tom morgan has been serving as a reserve deputy for 25 years. he went through the training academy at the age of 71. today, he helps where he's needed, working big events in town, and patrolling the ship channel. "at 96, i don't really try to get into fistfights anymore... (beep, camera shutter click) did you just see that? that was awesome. we have to try it. okay. okay, mine's not working. maybe you have to bump it. oh, yeah. do the bump it thing. right. okay, yeah. (muffled) you can take money out using the bmo harris app! you want to buy a hairless cat? there's a pet store down the street. cool... i think she said "bmo harris app". yeah, that makes more sense. when your phone is your debit card. that's the bmo effect. now at 5:00...wisconsin is back on the campaign map today. the candidate stopping here in our area hoping to gain support during a tight race heading into the presidential election. plus... finding peace on the big stage. the performances that are helping veterans get their life back on track. let's take a live look outside wel

. >>> at age 96 reserved sheriff's deputy tom morgan has the right to retire but says he doesn't want to. he started in the marines in world war ii and served his first tour in guadalcanal. >> lost a lot of people, a lot of friends were killed. i >> morgan later became an engineer and retired from that job at the age of 62 but then went back to work at 71, this time as a reserve deputy. he says he had to go through the same training as everybody else. >> the they threw a fit with a taser. to get a taser you have to get tased. >> he mainly works special events and also patrols the ship channel leading into the into fist fights but says he can if necessary. >>> two men who found a backpack full of pipe bombs in new jersey and notified police are being honored by the city. >> both men received the keys to the city last night. until now parker was homeless for two years. he found the backbackpack and wanted it for a job interview the next day but had to give to it police. a local charity is now raising money for opportunity to get his life back on track. i have a room. i have a hotel. i'm

tom morgan and his wife pat have lived in the neighborhood for 18 years. he says ?they? learned about what happened from a neighbhood website days ago. they're now taking more precautions.(pat)3;50;48 3;50;48"i've been concerd for ourselves and and for our neighbors. i guess i've been a little more careful on keeping doors locked during the day." police say the recent break-in happened around 10:30 in the morning.when the suspects discovered the woman, one of them "...told the victim to get into the closet and stay police would find a "...glass window on the lock/deadbolt side of the front door broken out allowing suspects to reach in and unlock the front door." one response to all this from neighbors has been to focus more on their surroundings. (tom)3;50;23"((cause my eyes are always wandering.)) so i'm pretty aware when a car goes by slowly or a car that doesn't look like it belongs in the neighborhood - i'm aware of it."3;51;43"i think if people are aware and pay attention to what's going on, i think it's a big step forward particularly in this sub-division."outro 24

relaxing doesn't come easy to tom morgan... he just harris county and has been for at 71, he busied himself by going through the training academy... "my doctor threw a fit when i told him i got a taser because he's needed, working big events in town, and patrolling the ship channel. it's not just honorary, it's real work. he keeps up with the training requirements. "at 96, i don't really try to get unlikely in service of his country all his life-- "a tremendous explosion. we knew what it was kamikazes were hitting ships all over." serving world war 2... "we lost a lot of people too. a lot of them friends killed. i don't know why i wasn't." he hasn't taken his long life as license to slow down-- his wife passed away a few years ago, today we met his girlfriend ann bates, who's introduced him to polka dancing. want. he's still wearing the uniform after all these years." sheriff ron hickman says morgan inspires the department... something he never intended to do. but he'll continue. because he can't imagine being put out to pastur

this is a reserve deputy, tom morgan, he is 96. he's been with thh sheriff's office the past sheriff's office in texxs. at the age of 71 he decided to go through the training. >> my doctor threw a fit who i told him i had a taser, because to get a taser you had to get tased. >> he works big evenns in town. he's not just honorary, not real work. >> at 96, i don't really try to get in a fist fight anymore. i kind of let -- i can. >> he can, he'll get in a favorite figgt if you push him. during world war ii and says he's not slowing down. at 96 he's helping out his community. >> he's being physically active and keeping his mind at work and those are two things that keep you young. fights when -- fist fights when he was 71? >> he got tased at 71. >>> gorgeous state-wide. cleas. satellitt and radar will stay quiet for now. when is our first snow here in denver? on average in town measurable snowfall, average first date is october 19th. but our average first freeze october 7th. i still hhve flowers hat look good you guys? >> yeah, everyt

tom: jp morgan has a wide mandate here. where jp morgan can do business and where you can do good economics? do you know what the data is? is there a sense of doing business as usual with the embargoes and the other issues with ukraine? russia andsiness in we will continue to do so. i am not an expert. tom: is london going to move to moscow? is that the likely brexit outcome? >> we have coverage throughout the world and in russia and we are comfortable that we can do good work there. there is no doubt and you can talk about the u.s. and everywhere else, but there are issues around the quality and availability of data. it is an important point where into a world where the emerging markets become more important, data becomes an important issue on how to understand what is going on. francine: i need to push back. if you look at the russian economy, it is stable somewhat but inflation is rampant food prices are through the roof. this is a political system that puts vladimir putin in power and he is consolidating that power. may

morgan sturdivant, wmur news 9. tom moving now to weather. : we continue to monitor tropical storm hermine it has been slamming the atlantic. this is video from new jersey royal caribbean's anthem of the seas, which was heading to bermuda. one passenger says the winds gusts caused swells 40 to 50 feet high. many passengers reportedly got seasick. luckily no one seriously , injured. leave port? mike: a, leave port. b, just go somewhere else. the storms out here. tom: not my idea of a vacation. mike: you have to watch it, and people plan it months and months out. but would you like to delay it or be sick on the boat? we had some sunshine poking through the cloud cover and a very nice labor day in many parts of new hampshire, overall a pleasant three-date stretch for this labor day weekend. there are some signs of change coming in on doppler radar. we have got some showers scooting into rockingham county, not much in the way of steady rain, nothing beneficial to help the drought situation, that there are a couple of blips

morgan stanley. francine lacqua in london, tom keene in new york.his is bloomberg. ♪ francine: this is bloomberg "surveillance." francine lacqua in london, tom keene in new york. black rock issuing a warning on treasuries as the fed moves towards a hike. blackrock think so, no one else think so. we are back with nandini ramakrishnan. the problem is when you look at what janet yellen wants to do or what she is trying to do or can do, it is modeled. we were promised for hikes and now we might not even be looking at one. nandini: let's keep one on the table. francine: just about. nandini: the data has been ok. they do have a deep enough case to hike. we will have to see the election results. if that really messes up the markets they may pull back. i think the article that everyone is reading is correct. there is a lot of duration risk across the world. given all these risks, where do you place your money? we are talking a little bit about getting higher yield. we like assets such as european high-yield bonds, a little bit of end selectively to get boos

so he had gone to mississippi as a tom hayden, as had robin morgan and so many people in the antiwar movement. they work in the civil rights movement in the south. david harris was a student at stafford. -- at stanford. this is david harris. >> i considered myself part of the movement from the day i left mississippi. what called the movement, capital t, capital m, was a submit to the justice in the deck democracy. wasn't an ideology, there wasn't a specific toll picks attached to it. what it was was a set of values fining ways to express themselves. i was in marches. i was in reallies and demonstrations but there was always the larger question of the conscription system, and that era, when any male turned 18, he had to go to the post office and register for the selective service system. when you registered they gave you two cards, one was proof that you had registered and the other indicated your classification, because under the selective service there were various classifications starting with 1-a, which mend your were cannons to for one that you would get a notice in the mail that

joining us is tom forte, vice president of maxim group and kimberly greenburger for morgan stanley. good to have you with us. tom, i'll start with you. not only is amazon trading at all time highs. we have visa and mastercard trading near record highs. consumers are spending. is this just a case of this is more evidence that the consumer is spending online versus the beleaguered bricks and mortar retailers. >> this is another example of the consumer spending more money not only online, but at amazon. if you look at amazon and talk about their sphere of influence, amazon into new categories, think of their amazon fresh effort in grocery or what they're doing in apparel, and the idea is they have all these incremental efforts to drive more market share and take more wallet share for consumers and i think all these data points are pointing to that. >> is it possible that people are sort of showrooming with amazon? they're doing their product search there and going to the best buy after they have gone the scan of prices across the online universe? >> we're actually seeing the share shift

tom: we will see you in the food court in beijing. perspectiveving his from the chinese capital. perspectivels tomorrow. one of the giants, j.p. morgan international chairman, his perspective from a troubled financial era. worldwide, this is bloomberg. ♪ ♪ .uy: i am guy johnson in london tom keene is in new york. in frankfurt, the current chair of ubs axel weiber has been weighing in. he says the world cannot accept the monetary policy is not working. he is not wild on negative rates either. >> where we are now, the rates path is blocked, rates are zero. they can sink negative, but i was always skeptical of negative rates. i think they do more harm than good. tom: that is ask weber at the conference. deutsche bank. let's go to the house view you. my conversation with vice chairman fisher. here he is on negative rates. central banks implementing them, they basically think they are quite successful and are staying with that approach. possibly with the exception of japan. they have said they will come back to try to make a negative rates work better. tom: i would suggest that professor fisher and dr. weber have a great respect for each

tom: he did that this morning in a letter to his shareholders. jim,he distinction now, how many years were you at morgan information transfer and media transfer was totally different than it is now. how does the ceo or c class officer communicate with this blur of modern information? jim: the key of communicating is to make sure you are dealing with insight, not just information. important not just to do with information, but you have , andve context, analysis judgment, and turn information into meaningful, appropriate insight. is, you are looking for what are the key insights, and what are the two or three key variables that will make the difference? francine: first of all, congratulations on the book. i wonder if it is just -- if it is really applicable to general bankers. i do not know whether this is culture, but there has been an inception -- there has been an assumption that if you are emotionally intelligent, you're numbers.ight with the has that perception changed? jim: no question about it, brazen hard workers are still important, data and hard analytics are still very important. your the secre

tom: you have done the map. -- math. you have that j.p. morgan and wells fargo. wells fargo in yellow, jpmorgan and white.that ever going to narrow, or does this go on and on, this massive difference in performance? michael: we are much more positive now on the large banks. once again, the u.s. banks are haveresilient than they been in decades. they have more utility-like outcomes. tom: for the revenues are not there, and they have got to cut costs. they areyes, but making headway piece by piece, and you see anything else with annuity-like outcomes, whether it is consumer staples, a treasury bond -- those violations have gone way up, but the banks are not getting credit for the reduced risks, so there is two sides to regulation. the one-sided yes, there is less leveraged, but the other side is dramatic risk reduction that should give banks higher valuations. right but shareholders do, not like that. they want to grow, they want banks to grow, they want a healthy market environment, which does not entail negative space. otherwise until it happens, banks worldwide will be under pressure. michael: you certai

tom: gary shilling is with us. 10.71 right now. in new york tomorrow, we're thrilled to bring you robert feldman of morgan stanley. e to have an extensive conversation with dr. feldman, on his japan. worldwide, this is bloomberg. ♪ francine: i am francine lacqua in london. tom keene is in new york. this is "bloomberg surveillance." let's get to the bloomberg business flash with taylor riggs. can china's takeover would turn this into the largest supplier of pesticides and agrochemicals. there are two other big takeovers pending in the sector. dow chemical and dupont. and bayer's bid for monsanto. republican presidential candidate donald trump looks to apply his new campaign -- trump and hillary clinton's face-off at hofstrant university in new york city. in recent weeks, donald trump has risen in the polls by learning to stay out of his own way. arel shows the two of them in a dead heat with 46% each. you can tune into the debate here on bloomberg radio, tv, and live streamed on twitter. our coverage begins at 7:00 p.m. eastern time on radio, 8:30 p.m. on television and twitter. that is your "numbered business "bloo

tom: we just went through the book of deutsche bank, jpmorgan, and morgan stanley.lk here or our institutions in germany and the leaders, john cryan and the others, but a blind to the stock rice? blind to there not stock price but in germany where you have a labor shortage you could have an a choir and fire strategy that wipes out a number of jobs. you can do that in germany and make a bank possible by drastically cutting costs. tom: what about deutsche bank and commerzbank? understand how they apply the anglo-saxon. david: that would be two drunks holding themselves up. i think a streamlined, more profitable deutsche bank with a derivatives operation that would be and the tage is to a strongly capitalized american bank that does not have one. tom: who would that be? david: wells fargo. tom: you heard it from david goldman. francine: i do not know why you are obsessed with consolidation. two drunks do not make one person who is sober. you cannot put together two week thanks, you need a bank -- week banks. you need a bank that is strong enough. david: the mask in gra

tom: thank you so much. let's set up september of 2016. jpmorgan's john morgans -- john normand is with us and i want to talk with this week volatility and how fragile we are to any given exogenous shock, or many different levels of outside shock. how fragile our we? john: quite fragile mainly because of the low levels of volatility. it is not just where it is in an outright sense, it is how low volatility is in markets relative to the volatility of the business cycle. if you think it is too low relative to the business cycle and you think it will get less predictable because of the inflation outlook in the u.s., maybe the election outlook, the qa policy in europe and japan, that is the fuel. tom: what is your prediction for a given exogenous shock? i know it is tough to that. shifts and central-bank policy, this is nothing new. people have been on the lookout for some change in fed policy. i'm not convinced that september is the month when everything comes. i think there is enough circumstantial evidence that the central banks are up to something, and given how

morgan analysts yesterday saying anything about $4 billion on this settlement would need more legal provisions, would need some cash from somewhere -- tom your reporting, can they all go out and get cash this morning as the dominant bank of continental europe? michael: i think they could get cash. it would be highly dilutive at .3 book. it is not something they want to do. they have assets they can sell. they have come out and said that asset management is a core part of the business, and they don't want to sell that. tom: at some point, there has to be an adult in the room. where's the adult in the european banking room? michael: well, i mean, i think you are seeing the lack of that baselhe fighting in this committee. the fighting between the european officials. there seems to be two camps. one is that we need to continue to make these banks hold more capital and avoid anything like the lehman that we saw eight years ago. the other side saying, we had eight years of this, we need to move on. francine: michael moore, thank you so much. he heads our banks coverage for the u.k. we will get back to lax and axes to lax and active on -- to l

morgan, thank you very much. its rocket exploded on the launch pad. this particular rocket was on a space book mission. nbc's tom costello covers all things space for us. good morning. >> this is a significant setback not just for spacex but for facebook. this was going to be a satellite inside this unmanned falcon 9 rocket that would beam internet access both companies are now trying to regroup. a jaw dropping sight. a spacex rocket exploding on the launch pad on thursday being swallowed hole in a matter of seconds. a series of explosions and massive plumes of thick, billowing smoke. the blast could be heard and felt for miles. even caught on weather radar. urgency on police dispatch radio. >> it's a rocket segment that plume heading toward the beach. >> amazingly nobody was injured during this routine test going bad. the rocket was destroyed along with a special satellite. the mission was to bring the internet to parts of africa. mark zuckerberg said he's deeply disappointed. the launch was the cause is still unknown. >> wow. >> as spacex investigates what went wrong. the blast caused major damage. major damag

tom mackenzie live from beijing. just ahead, our next guest is still looking towards december, but says the fed has damaged its reputation. we get j.p. morgan'ss bloomberg. ♪ yvonne: a quick check of the latest business flash headlines. goldman sachs make cut a quarter of its banking jobs in asia outside japan. 75 jobs across the region will be cut because of a slump in deal making. goldman sachs does faced its worst asian equity rating in also undernce 2008, scrutiny and its role of underwriting $6 billion in bond sales. investment corp cuts jobs. it will close in singapore desk. it dismissed 15% of its workforce last month as hedge funds have struggled. china's biggest state-owned aluminum producer will pay a 32% premium to buy their stock at its hong kong listed mining unit. the move to privatize will make it easier to raise funds to support the copper mine in peru. the project has seen revenue squeezed by falling prices, inefficient operations, and worker strikes. we have governor haruhiko kuroda speech this afternoon. officials commenting later this week. let's discuss that. great to have you. we're talking about a dozen fed speakers thi