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a meltdown on wall street.f century, probably once in a century type of event. >> is this the worst in your career? >> by far. >> because he's let lehman go. under, there's shock in the financial world that morgan stanley is going to go under and goldman sachs is going to go under. now you have panic. >> the american people can remain confident in the soundness, in the resilience of our financial system. >> nobody understood what was happening. they couldn't believe that these grand institutions were about to come undone. they were waking up in the morning and finding out it was worse today than it was the day before. >> it's the latest crisis to rock the financial markets. insurance giant aig teetering on the brink of bankruptcy. this is a colossal firm. if it fails, the ripples would travel far and wide throughout the global economy. >> all of a sudden, who would have dreamt this other bomb shell goes off, which is aia. if it you think lehman brothers was complicated to figure out, aig was monumentally bigger

wall street is in charge. green as in money. over a foyer on that runs the entire length of the house and at the end of the foyer, we find this morning, boone pickens. good morning, sir. how are you? >> good morning, harry. >> why don't we head into the trophy room, if you don't mind. >> t boone pickens was a texas oil man who became the original corporate raider. he would buy stock in a company and talk about how executives needed to be tossed out and take over the company. >> it's only 1/20th the size. he buys the stock privately and he lets it be known he wants 15% from the shareholders and gain a seat on the corporate board. >> one thing i want to put in place. the stockholder's own companies and management and employees. >> they agreed to buy back stock to stop his take over bid. the profit to pickens and his partners, $89 million. >> it is no secret that you made about a half billion dollars for losing on the attempted takeovers. do you go in anticipating the loss is going to stand you very well? are. >> you never like to

wall street was exacerbating all this.re taking all these mortgages, packaging them into securities and selling them off as investments all over the world. that was where the cancer got exported around the world and that's where things began to get really dangerous. >> just how close did we come to the financial system actually falling apart? >> look, it was very, very close to complete and total meltdown. i think we have never seen anything like that in our lifetim lifetime. we have to go back to 1929, 1930 to figure out anything remotely close to this. it was absolutely frightening. ien can't believe it was ten years ago. and we came close to the edge. >> public backlash against this bailout turned into a battle of main street versus wall street. people felt betrayed by the institutions they previously trusted. the american dream seemed no longer attainable to millions of people. what kind of impact did the psychological impact have on the country, do you think? >> i think it was very short-term psychological damage. ins

if you are funded by wall street. >> individuals on wall street, some of the biggest guys on wall street are quite anti the antics that wall street has been up to. you know what the game is. just because you made some money on wall street or just because you are currently in a hedge fund doesn't mean you don't know what the practices of wall street are. in fact, i think it's been a great way for some people that are blue collar, come from blue collar backgrounds to get ahead. >> the main piece of economic legislation that has been passed in the trump administration is the tax bill. most of those benefits go to the very wealthy. is that a mistake? >> hang on a second. the central part of the tax bill was also the corporate tax bill to make sure we were competitive with germany and china. if you look at manufacturing coming back here, it is part and parcel of the situation we're in with the tariffs, the economic package and the tax package, that was the central part of it. >> are you global? >> not globally. i'm talking about what happened here. what happened here in manufacturing jobs com

forpendents, 202-748-8002 josh mitchell of the "wall street journal." a little bit of figures on the screen about student debt overall. reserve between 2001 and 2016, the debt owed by american households tripled to $1.3 trillion. it increases -- the increase largely reflects an acceleration in student loan originations that was due to a surge in college enrollment. a lot of debt out there that we have talked about. apply that for-profit colleges. not just what they pay, but what they leave with in terms of debt. guest: there are two don't problems here when we talk about student debt. you have a lot of students who go to colleges including for-profit colleges and they drop out. sometimes they don't even leave with that much debt. those of people who are most likely to default on loans when they drop out and they don't get the job they expect. and you have for-profit colleges, the other problem is they charge a lot. you can have students at league with $50,000 of debt. and maybe they find a job, but they don't find a job that pays, and they have a hard t

reporter: welcome to maria bartiromo's "wall street." i'm charles payne.aria will be back next week. we have a couple special interviews maria did before she left for vacation coming up. her news making interviews with the egyptian billionaire and steven mnuchin. adam shapiro is standing by in the newsroom. reporter: a stellar week for walmart. it reported its strongest growth in a decade. walmart beat estimates by reporting earnings per share. it surged 40% for the quarter. walmart shares closed up on that news. despite the dow rally, thanks to walmart and easing trade tensions in china, markets finished up for the week. andrew brunson has been in prison for nearly two years in turkey. this comes as the u.s. doubled its tariffs on metal imported from turkey. this made it difficult for turkey's currency the lira. it lost a third its value against the dollar. turkey says it won't give in to u.s. threats. more trouble for tesla. the sec is investigating whether the automaker misled investors. they are look at what the company directors knew about elon musk's

and just watch all that's good advice in fact bulls made history today on wall street and on main street for that matter today is the three thousand four hundred fifty third day of the latest. bull run on u.s. stock markets not translated today marks the one this period of uninterrupted gains on u.s. stock markets in history now why is this record setting a market so important one because it has lasted so long in too because stock indices some had quadrupled in value since the bull run began and three well because there just aren't any signs of a bull slowdown at least in the near future you have to go back to march two thousand and nine to see this bull market take its first steps and thanks to unprecedented help from the u.s. federal reserve the u.s. and the global economy were emerging from the scariest financial crisis since the great depression of the nineteen thirty's now this bull market seemed at times more like a cat with nine lives there was the downgrading of u.s. credit in two thousand and eleven there was the euro crisis right here in europe there was china's economic slowdo

and china there how's that playing out on wall street. well investors here have tend to downplay concerns about these trade conflicts for the longest time and have been focusing on fundamentals and earnings but when we look at the charts out the dow jones for example and other indices we can see subtle signs of declining optimism wall street lost a few points on per se on friday it did look a little better again but it is gone all over that investors don't pay attention to the terror threats at all the back and forth between china and the you as has turned into a downward spiral with neither of the two sides giving in so wall street is asking where is this going to end will trump be able to turn all of this into a win win situation or at least into america wins a situation or will china think he's taking it too far and retaliate even harder once american companies begin to suffer from protectionism enter italy ation wall street cannot longer ignore the possibility of trans trade policy harming the kompany they are invested in in the long

wall street shrugs off a warning from the u.s. president donald trump reckons if he were kicked out of office the market would crash. new u.s. tyrants on sixteen billion dollars worth of chinese products come into effect beijing responds in kind is there a way out of the ranks. and caution about one of the biggest company listings in history the saudis insist iran because i p o will not be called off. i'm ben fizzle and let's do business could pietschmann equal market crash legal chaos is roiling the white house this hour experts say don't trump residency is under threat he faces tough questions about pay to women he's alleged to have had affairs with is his response to questions about his political future i'll tell you what if i ever got impeached i think the market would pressure i think everybody would be very poor. because without this thinking you would see it you would see numbers that you wouldn't believe in reverse. or better place to get the reaction on this story than from wall street so if you mask is standing by for us

>> >> i came out of wall street. goldman sandwiches, because you made money on wall street or currently in a hedge fund, some of, i rng it has been a great way for some people who are blue collar backgrounds to get ahead. >> main piece of economic legislation that has been passed in the trump administration is the tax bill. most of those benefits go to the wealthy, is that a mistake? >> the tax bill was the corporate tax bill to make sure we were competitive with germany and china. if you look at manufacturing jobs coming back here, part and paricle of the situation with the tar rives, the economic package and the tax package, was a part of it. >> are you talking about. >> the tax policies. 83% of the benefits. >> not globally. >> not globally, i am talking about what happened here. what happened here in manufacturing jobs coming back, that is where you got economic growth in the country. one of the reasons is the tax bill. >> i didn't actually love some of the things on the first income tax. >> that is what i am tal

it's a cause and effect there i don't know but i also want to look at this other chart your from wall street the revenues of health care companies represented nearly sixteen percent of the total revenues of firms in the s. and p. five hundred last year which is up from four percent in one thousand nine hundred four when you were working on wall street so that's up four fold that's what it looks like on a chart form. since one thousand nine hundred four goldman sachs at this point could take cancer public as a place i just gave them an i.b.m. i p o they would say were half a billion dollars taken you know syndicate put it together were taken cancer public and we're going to make sure that everyone gets cancer in america in the next two years and these stupid idiots in america would vote for that they'd buy it they'd support it they lend money not that it's just people have been confused because they think there's free money and they think they're so that the government demonstrated that when they bailed out banks they looks like a magic act it looks like something magical has happened and the

wall street is in rallye.&p 500 and the nasdaq closed at new highks to a gain in technology shares. in fact, the nasdaq is on track for its best august in 18 years. a strong report on economic growth aloh optimism over trade put investors in a buying mood. today the dow jones industrial average added 60 points to 26,124. the nasdaq was up 79 or about 1% and the s&p 500 gaine 16 points. ls and more now on trade. canadian offic are in washington tonight working toward a revamped free trade agreement and both sides doppear optimistic now that an agreement can be reached ahead of a friday deadline. eamon javers has the deils. >> president trump expressed confidence that canada will join the agreement alreadyammered out with mexico. >> we'll see whether or not canada gets into it or we'll do something separately or we won't do anything which is okay, >> canada's prime minister cynthia friedman spent the day dehind closed-door meetings and feels optimistic progressing can made this week. >> among the sticking point,

, we're in the fox business newsroom with the big headlines this week impacting everything from wall street to main street. >> hi. the trump administration putting pressure on turkey on friday. the president authorizing a doubling of tariffs on steel and aluminum from the nato ally. sending the turkish into a downward spiral. >>> and it's usually the president that drops big news via twitter but this week it was tesla's elon musk tweeting out, quote, i'm considering taking tesla private at $420, funding secured. u.s. regulators are looking into the tesla ceo's tweets, whether he us honest about s securing funding and why he chose to do it in twitter. >>> disney, disappointing the streets but it reported strong results in its studio and parks unit. growing 20% year of year after the box office performances of marvels avengers. the third quarter earnings come as the entertainment giant is in the process of acquiring 21st century fox >>> the dow, nasdaq and s&p closing mixed for the week >>> chris collins charged with insider trading and lying to agents on wednesday. he's accused of receiving

wall street shrugged off the first round, but u.s. business warned they will raise prices for consumers, especially as the trade spat escalates. the white house is threatening an additional $200 billion in tariffs on chinese goods. china plans to hit back with its own tariffs worth $60 billion. the trump administration says the tariffs are punishment for china's unfair trade practices, like stealing u.s. technology, stealing u.s. trade secrets. beijing denies those allegations. >> the street reaction to this has been fascinating, or lack of reaction. >> the supergrowth that the president talked about, that's really -- earnings have been so good because of some of these trump policies, like cutting taxes. i mean, that's really been the most important here. so, at this point, they feel like the trade war is contained, and there are some who say if you didn't have this trade spat, you'd see stocks even better. >> yeah. worth watching. obviously not stopping any time soon. >>> all right, iowa college student mollie tibbetts now missing fo

linda: the "wall street journal"? eric: i want to ask you about the labor department under alex acosta. love his background with devos. how do you think he is doing in terms of enforcing labor law and protecting workers? richard: the jury is still out. we have more of a working then anship with acosta lot of those names on the list. a lot of the stuff you see on this list came out from the department of labor. those were under his watch. to the extent that he killed all the new stuff that was going on, all of the safety regulations and health regulations going on. to the extent he stopped work on all of those, he is flat wrong. he has a chance for redemption. and comese the board to help workers if he chooses to. linda: isabel? richard: you will have to speak up. linda: from inside u.s. trade. sabel: what are your thoughts on the exclusion of canada from the nafta talks? i know there are a lot of counterparts of your members in canada. richard: they are our biggest trading partner. between the three countries is very

talks stalled, according to the "wall street journal."the plea talks on the second set of charges stalled over issues raised by special counsel robert mueller, one of the people said. it isn't clear what those issues were, and the proposed term of the plea deal couldn't immediately be determined. the effort to make a deal apparently didn't work out, but what does it mean for the mueller investigation that trump campaign chairman, newly convicted felon paul manafort, is now apparently trying to get himself a deal with the prosecutors in robert mueller's office. joining us now is chuck rosenberg, a senior fbi official, also a former u.s. attorney for the eastern district of virginia, which is where the first manafort trial was held. mr. rosenberg, chuck, thank you very much for your time tonight. >> my pleasure, rachel. >> is it normal practice for a defense team to come to prosecutors to try to cut a deal for their client literally while the jury is out and deliberating on their client's fate? >> no, because it's highly unusual for someone

beyond disney, look fat earnings from snap, wall street is expecting positive news “— wall street isrichard hunter, head of markets at interactive investor. we may talk arsenal later! the markets, interesting, slightly positive at the moment across asia, we have the massive trade tension issue which is global and yet we have an american economy which is on an absolute roller—coaster, they are balancing each other out, do you think? in normal circumstances, you would have seen the us market race away a lot more than they actually have, you are right, detentions there, the escalating trade spat between the us and china, very much on people's minds. we have had a synchronised global economic recovery, the us in particular is absolutely firing on all cylinders, and what you would normally expect and what you would normally expect and hope is that the economic growth could continue on its own. 0bviously, markets at any given time looking to what sort of thing can this and us, china, that could be one of those things. it appears to be weighing on the ftse100, pretty good earnings in the la

this news broken by the "wall street journal," it does feel like a surprise. you see the headline there. right to the heart of the manner. manafort sought deal in next trial. that means trump campaign chair paul manafort sought a deal with robert mueller. with the prosecutors at the special counsel's office who are about to put how many trial for another round of felony charges in federal court. but quote, talks broke down. to understand why, at least to the nonlawyers among us, this is such a jarring headline. just stand back and look at the legal trouble and the legal investigations that are circling the president and his business and his children. the biggest news of the last week was the president's long time lawyer pleading guilty on eight felony federal charges. and his plea in the information filed by prosecutors in question, his guilty plea, michael cohen not only admitted himself to committing eight felonies, he implicated the president himself staying president directed him to commit the crimes. it also implicated, including two specified employees,

it doesn't hurt wall street, it hurts main street. i think he is shaking that up a bit, and i think that is a good thing. we will see if it gets done or not. we will see if it is a lot of talk and little action. we will see. when it happens, i will be the first to tell you what i think about it. john: would you consider endorsing him in 2020? richard: i never said we wouldn't. we will consider every candidate. i don't want you writing that story saying that i endorse trump. i am not saying that. we will consider every candidate who was running. our members will help us decide which they think will most one effectively represent the rule of the workers in the country and help change the rules of the economy so workers get a fair shot. every candidate will be looked at. linda: marla from npr? marla thank you for being here. : i have a question about where your members are. do you think when he goes out and holds rallies in places like missouri or indiana that he will be able to convince your members to vote republican? richard: no. i th

wall street hit record highs on the deal.l street editorial board says this may be premature. writing, we are glad to see president trump step back from the suicide of in thnafta withd. >>> we are ten weeks out from the midterms and north carolina's congressional map may have to be redrawn. a panel of three federal judges ruling districts were unconstitutionally gerrymandered to help republicans. republicans hold 13 seats in the house. >> this could put more seats in the house for democrats. the judges acknowledged primary election owes curs occurred, bu reluctant to restructure the districts. the state decision could result in an election year appeal to the high court which has eight justices. >>> federal judge in seattle blocking a texas man from releasing downloadable blue prints for 3d guns. a temporary restraining order has been issued. this is part of the lawsuit against the government by cody wilson who posted designs on line for 3d guns in 2013. the judge argued the first amendment rights were not sufficient to overco

reporter: it was a winning day on wall street. a winning week on wall street. the dolphin is higher by hundred and 36 points. it is higher for the week making it five weeks in a row for both the dow and the s&p. nasdaq finished high today also. now in the green for the weekan two weeks of losses. it wasapple that wowed wall street this week. another all-time high of february 8, 1974 they had the trillion . after the -- the other thing we were keeping an eye on, earnings. -- some big moves we did see disappointing forecast. that dropped 12 percent and the other two beat. watch monday for berkshire hathaway. that will be a big mover as well. elizabeth: great to see you, nicole. not to this story could affect your oil and gas prices.i ran swarming the street with drones and more. trying to show they can and could choke the world oil supply. will this have any effect on the president 's tough talk with iran? and democrats all for abolishing i.c.e. the president saying we need to see what is really going on at america's borders. we are bringing in a former special a

well for more let's bring in our wall street correspondent sophie she money sophie the u.s. president is hitting the turkish economy hard all for political reasons. well at this point trump is using trade policy to achieve something completely different than any changes to the trade balance this is not about trade christopher the turkey is not a major trading partner of the united states this number thirty two on the list and the u.s. actually has a good trade surplus with turkey of one point three billion dollars according to most recent data from two thousand and sixteen so this is about exerting pressure in terms of american prisoners being held in turkey person foremost but not only because of the detention of american pastor andrew bronson vice president mike pence has already demanded his release and now the white house is just too raising pressure on top of that is through later to charm strategy in iran and russia if trump wants to harm russia and iran iran even more with his sanctions he would like turkey to join him as they're importing most of their oil from the t

journal editorial in his life and the readers of the wall street journal do what do they do i think that they are far more familiar with what the word you can't not be familiar with the world of if you went to school and almost any school from elementary to college you know what the left thinks i know in the wall street journal i did and i very pro union you are in the style chick for a time when the unions did you damn right ok i didn't resent that communism in america you're right they did you know what i want to comment on that. that that's when liberalism was in the ascendant gumperz yes liberalism was anti left. like you like alan dershowitz to this day he's anti-left alan dershowitz said to me i have the video it's on video alan dershowitz lifelong liberal hillary clinton supporter professor of law at harvard i am far as a jew and as a liberal i am far more afraid of the left than of the nazis he was on the show and there she was he's a hillary fan now he's does not favor trump's policies he just thinks trump can not be indicted while sitting on things he thinks the left is ru

aruna, thank you for bringing your story to "the beat" from the "wall street journal." i imagine your phone wilton ring. and before we leave the top story of trump and manafort. we have an announcement about a special guest and legal expert, maya wiley. i am thrilled msnbc is naming her as an analyst here and has been an expert on "the beat" since day one. and you show objectivity and dignity and humanity when you do your work. we have seen some of that on display this year. >> i think your family wants you home for thanksgiving and i hope you will testify. >> isn't this ridiculous? >> no, it's not ridiculous, van. >> since november? >> so not ridiculous. just no. just no. there's a real issue about whether our commander in chief is actually a commander in thief. > would agree with mr. avenatti, if i were in his seat i would also be doing a happy dance. >> thank you for being part of our team. thank you. i'm thrilled and privileged to join such an amazing team. >> we wanted to get that in and i want to thank you all for our coverage. and seeking a plea deal. michael coh