sen warren: i want to see a full investigation.now who was behind-the-scenes of some of the critical decisions that were made, including the decisions about who could trade and could not at critical moments. i want to see an investigation into the contracts that folks signed in order to work through gamestop which means they have forced arbitration clauses. if they get cheated, they cannot go to work. -- court? that is not right. kevin: are you satisfied with any trust answers? sen warren: i think that merrick garland is going in the right direction. kevin: you have raised a lot of concerns about big tech, are you more concerned now than you were a year ago? and how. sen warren: yes. they are more powerful than ever. they are more powerful economically. they are more powerful socially, we rely on them more for our connection. and they are more powerful politically. we need to break up big tech. emily: senator elizabeth warren with kevin cirilli. coming up, we will talk about mixed reality with the lead developer for hollowo lens. -

this will hit you and your children warren said like a property tax, tax on your house.ore money they'll raise taxes on -- bezos is not paying enough in taxes. why? he's investing all of his income in new growth. that's what he's doing all of that money will come directly out of the kind of investment that's created real wealth for many, many americans when you tax bezos or amazon you tax billions of people's 401k. >> grover, it's a longer debate and we have to have you back to continue it. david, we also want to thank you for sparring with us on these issues there's a lot to discuss here. i know we'll continue on all of it thank you. >>> all right. coming up, a big lineup ahead including steve case wearing a flannel shirt again. brian cornell. senator elizabeth warren khan academy founderaln smakhan and kelly steckelberg. she'll be on zoom. don't go anywhere, you're watching "squawk box" on cnbc. introducing magenta max. now with unlimited premium data that can't slow down based on how much smartphone data you use. plus get netflix on us, and taxes and fees included! yo

senator warren feels optimistic about expanding in 2022. democrats are going to be putting pressure on centrists, and they are going to be saying, look, if you double down on progressive policy in arizona or west virginia or in montana, than they would have been able to expand the majority. i am just telling you what they are going to be saying. tom: but maybe they are saying this, because i see it in a lot of research out there. our warren and the liberals going to give away the house? are they going to cost seven seats so that nancy pelosi is the minority leader? kevin: they are going to say are the centrists in the house going to give away the senate because they feel they can expand their majority in the senate. there has been a lot of attention on the house of representatives as a result of former from speaking at cpac, but democrats are very bullish on what they see as an expensive map in the senate. jonathan: final question. i don't think this is anyone's base case whatsoever. what are the chances, from your reporting, that we don't

who was up and who is down and he all but endorses elizabeth warren. i will not endorse or this is not an endorsement but he speaks for a good portion of the program this little off the record chat about elizabeth warren and at the same time he's jabbing at mayor pete. calling him gay and short he is ripping him of course but he is having fun. then he doesn't mention any of the other candidates but he is talking a lot about elizabeth warren at the same time the best part is he forgets to mention joe biden. one of the donors said you forgot about biden so that's a key moment of what he was thinking in the fall of 2019. jeff is back. >> i apologize the gremlins got to my signal. it happens. i to talk about the journalism. john you talked about the cutting room floor, we have to put the elephant in the room and some of our colleagues have had mixed reviews about it to say there is too much detail and too much inside the beltway. is that a fair criticism of the book? >> the "washington post" did a review and said brisk and detailed i cannot think i would h

warren: i understand they have in the past.m not asking what the last secretary of the treasury did. you are the head of fsoc now, and the question i am asking is whether fsoc is considering and looking at designation for these large financial institutions. sec. yellen: i think it is appropriate to designate institutions whose failure would pose a material risk to financials to bill if he. -- to financial stability. sen. warren: with respect to my question, does a $9 trillion investment company pose some risk to the american economy if it should fail? sec. yellen: one needs to analyze what the risk is. and asset management company is very different -- sen. warren: how can you analyze what the risk is if you are not doing the investigation through fsoc? sec. yellen: fsoc has undertaken such work in the past, and as i said, when it looked at asset managers, it issued a report outlining what it sought as some -- what it saw as some of the most significant risks. sen. warren: are you continuing that investigation now? sec. yellen:

warren: it isn't just banks that pose to the economy. in 2008, to investment companies failed triggering 2008 crash. when congress passed dodd frank, they created the financial stability oversight council and gave it the power to designate non-bank firms as too big to fail or to designate them as systemically important, which means they get the same stronger oversight as the too big to fail banks. is that correct? chairman powell: yes. sen. warren: let's look at an example of how that's working today. blackrock is the world's largest asset management firm overseeing nearly $9 trillion in assets. that is more than double where it was 10 years ago. it also holds a stake in just about every company listed on the s&p 500. to put that in perspective, blackrock manages more assets than the entire gdp of japan or germany or great britain or any other nation in the world except the united states and china. it is not just size. blackrock runs a technology platform that currently houses at least 10% of all the stocks and bonds around the world. se

warren buffet and charlie monger will be there. i'll be participating as well.if you are a shareholder submit the questions by sending an email to berkshirequestions @cnbc.com "squawk box" will be right back. investments, r key portfolio events, all in one place. because when it's decision time, you need decision tech. only from fidelity. want to save hundreds on your wireless bill? you need decision tech. with xfinity mobile, you can. how about saving hundreds on the new samsung galaxy s21 ultra 5g? you can do that too. all on the most reliable network? sure thing! and with fast, nationwide 5g included - at no extra cost? we've got you covered. so join the carrier rated #1 in customer satisfaction... ...and learn how much you can save at xfinitymobile.com/mysavings. >>> welcome back to "squawk box. tesla was the worst performing last week. joining us for what's next, gene munster and warren johnson, founder and ceo of glj research. there was a huge rise. there's the selloff. it's still done remarkably well. gene, how are you looking at this >> if there's a one-

senators person been and elizabeth warren are -- bernie sanders and elizabeth warren are not giveingage. they say the senate should ignore or overrule the parrel parliamentarian's rules that it can't be in the coronavirus relief bill this after senate democrats decided to scrap the plan and take out the minimum wage increase from the stimulus package. senator chuck schumer says it expects late nights as they begin the debate. cracking down on china, the biden add medicine duration says it will use all available tools to respond to beijing's unfair trading practices, it did not outline the exact steps they would be taking. former president trump's trade deal with china required the country to increase purchases of u.s. goods and services by $200 billion over two years, a promise the chinese still are yet to keep. americans could start receiving johnson & johnson's covid one shot vaccine as early as today. millions of doses are being shipped nationwide. j&j hopes to get 1 billion doses out by the end of the year. the vaccine receiving emergency use approval from the fda over the weeken

senator elizabeth warren and bernie sanders are calling for a new billionaire tax potentially costing the likes of jeff bezos an extra $5 billion, and the unlikely customer fueling the growth at disney it's tuesday march 2nd, 2021, and you're watching "worldwide exchange" here on cnbc ♪ ♪ >>> good morning, everyone i'm seema mody in for brian sullivan right now kicking off your tuesday morning, let's take a look at stock futures following that rally yesterday. this potential pullback coming after a recording breaking day on wall street snapping a losing streak dow down 91. the blue chips and the nasdaq, though, coming off their best day since november yesterday was the best day for the s&p 500 since june gaining over 2%. leading the dow higher on monday, boeing, apple, dow, and goldman sachs seeing gains of nearly 4%. the nasdaq 100 leaders, include zoom video after earnings tesla and cintas, a couple of other winners. the move in equities coming as the yield on the ten-year continues to slide off last year's big surge that we just saw. the ten-year yielding 1.43%. let's go worldwide

lee, i know you were a little agitated from what you were hearing from senator warren last night.ng. >> the idea has no merit it's foolish it probably is not legal and there's a much better way. with the money yesterday, gave a number of examples what it could create and the way i see it there's plenty of ways of raising revenue. we can eliminate the interest, we talked about in your program seven or eight years ago we can eliminate the ability of real estate taxes with sales procedures on new purchases. we can set a minimum tax for all to pay, no matter what the structure income is. raise taxes. try to eliminate waste which is the best way to go most companies have tried a wealth tax and repealed it because it doesn't work. i can go through lots of examples of the problems it would create but there are two issues we've got to deal with here. one is the wealth tax which has less than a 5% chance of passing. i don't think it's intelligent and i don't think it's legal but we also have to deal with the dialogue that progressives are taking against wealthy people they tend to villaini

and if there were fraudulent land dues to take these loans those houses were lost and that's how warren buffett became one of the biggest landlords in america today he's the he ended up with all of those homes now that those homes are in the proposition of private equity groups like warren buffett the 2021 variant of a housing crisis is to pump money into the economy so that all the assets held on the balance sheet of warren buffett and other banks go up in value and the people that lost a lot of wealth in 2008 i rarely people of color are now getting raked over the coals again through disinflationary pass at their assets again remember because it is on confiscated won't i say that to the folks of color because it's one of the only assets they can have that people like warren buffett can steal right and you see again the rhetoric in the cable news on on twitter blew check twitter is that they'll be talking ever more about how anti-racist they are and yet they're. policies themselves what they're actually doing have racist the results they're excluding as sherrod brown points out black f

kevin: the space between secretary ellen and senator warren.hat will only continue to be explored both in the financial services press but also as we inch forward and beyond president biden's first 100 days. there is a cosponsor we have spoken to, congressman brendan boyle. he represents suburban philadelphia. he is a moderate democrat. he is a cosponsor. pennsylvania battleground state come as a long-term application, but also speaks to this broader point about how her ideology is now shaping the bourbon congressional districts in a way that in 2013 we did not say. tom: i want to dovetail senator warren's comments with the reality. the battle of 2021 is redistricting. your pennsylvania comment. it is always bitter. can the democrats lose the house through redistricting? kevin: they will say it poses a significant opportunity for republicans. republicans will take issue with that, because typically the mood of the country, the pendulum, swings back and forth after a couple of years into someone's first-term. lisa: one thing that was clear to me

it now heads to the senate for what could be an uncertain future >>> and warren buffett betting big on beshg sure once again and admits to one serious mistake in annual letter to shareholders. >>> robinhood has big plans for more kacash in 2021 it's monday, march 1, 2021, and you are watching "worldwide exchange." ♪ if you like pina colada and getting caught in the rain ♪ if you're not into yoga if you have half a brain ♪ >> good morning, everyone. i'm seema modi in for brian sullivan kicking off the first trading day of the month, a look at stock futures. we're higher across the board. the bond market, which has been driving the action, you'll see yields have been coming down from their recent highs that were hit last week if we take a look at what's happening around the world, you'll see it's mostly a higher session overnight in asia with the expectation of the south korean market, we did end the session higher across asia and in europe, trading just got started. we're actually higher across the board there. >>> the u.s. with its third coronavirus vaccine in its arsenal. the cdc dire

victoria, warren buffett is sitting on a ton of cash.heap out there. maybe he has been burnt. he mentioned precision castparts being a disaster. what are your thoughts on the idea there is nothing out there to buy? >> well i think, charles, you have to love the sentiment that warren buffett gave in that letter as you mentioned. when you're talking about not betting against america that is part of what he is talking about on his investment styles. cheap is a relative term, right? you look at some of these stocks that really had a runup. you look at their valuations, their multiples and their high. i think after the pullback last week. you have an opportunity here to look to say, are they cheaper relative to where they were? is this an opportunity to go ahead and buy some stocks that perhaps you didn't have in your portfolio that you would like to have? so stocks are cheaper. and i think maybe you can use that to your advantage? charles: of course we heard cheryl talk about the giant position in apple that warren buffett has. i kind of thi

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senator warren: i appreciate that.s given the tools to the sec, we just need the sec to pick up the tools and use them. the sec has been asleep on the job long enough. it is time for the commission to protect investors and consumers. i expect to see progress on all of these areas under your leadership. thank you for being here, thank you for your willingness to serve. thank you, mr. chairman. >> thank you, senator warren. senator kennedy from louisiana. if not -- sen. kennedy: thank you. guy: seeing what elizabeth warren had to say in terms of sure view in terms of the -- in terms of her view in terms of the sec. wall street paying a great deal of attention, particularly to what gary gensler is likely to do next. any hints on his strategy in terms of regulation, everyone is on tenterhooks. i want to turn back to what is happening in another sector. not financials. the car sector. volvo cars has set an ambitious goal to sell only battery-powered vehicles by 2030, accelerating its plans as sales of electric vehicles cont

california senator, alex padilla, along with senator elizabeth warren and a couple of congress members. tell us about this new proposal and what it intends to do. eliana: yeah, so this new proposal is the citizenship for individuals deemed essential workers during the covid pandemic. these individuals include workers who were in the healthcare sector, those who worked in hotels, hospitality, transportation, janitorial, agriculture. so these individuals who were working during the pandemic would be eligible for this citizenship. damian: so my understanding is, first, they would apply or receive permanent residence and from there that's why we talk about pathway to citizenship, is that eventually, at a later date, they would be eligible to become citizens if it's approved by congress and passed by and signed by the president. eliana: yes, correct. if this act is passed by congress and passed into law,

cnbc's ylan mui has more this is something warren campaigned on. >> reporter: that's right, shep.he said the pandemic has exposed long standing divides in the country and that's made the wealth tax more urgent than ever. >> this pandemic has created more billionaires. the people at the top are not barely hanging on by their fingernails. at a time when people making less than $30,000 in america have an unemployment rate at about 20%. >> reporter: now economists have a phrase for this. the k-shaped recovery. many well-off households have done better this past year while many at the bottom are still struggling to get by take a look at the job market. unemployment in high wage jobs is just 10% below where it was when covid hit but the lowest paid positions are still 20% behind the pre-pandemic levels there's plenty of skepticism this a wealth tax would solve the problem. janet yellen has raised concerns how to implement this. conservatives believe the best way to juice the job market is to support the companies who are hiring workers and generating new wealth. >> all of that money wil

elizabeth warren has a seat on the finance committee which is powerful in regulation.y them to adopt progressive causes. what is fascinating about it, if you listen to an exchange he had with pat toomey, the senator from pennsylvania, the republican, it was all about what do you consider material. pat toomey raised issues of apple spend as fraction of earnings on my lobbying s that material? it usually isn't considered material so they don't have to disclose it. gensler didn't say that. gensler came back that may be material based on other bits of information. you get, you see what i'm getting at. the notion of imposing climate change initiatives at the corporate america level, of forcing these companies, embarrassing them to say they deal in mostly fossil fuels in their business operations, is something that is going, is going to be policy of the democrats. it is going to be pushed by warren and sanders through the sec and it is going to be pushed through the sec by virtue of notion of materiality, what should be disclosed. make one point. gensler said on robinhood, l

joining us now, don's sister who happens to be senator elizabeth warren.for spending some time with us. i remember reading everything that you tweeted and shared but i wonder if we could just remember your brother first. what was he like? >> so my first memory of my brother is when i was 3 years old and he was 19, and we'd driven to oklahoma city. my mother and i had driven him up there and he wassed offer to the air force. he was dashing. he was handsome and he was ready for an adventure. and he was always somebody who was just out on the front edge. he flew b-52s for 20 years. spent often and on six years in vietnam. he was -- he loved the fly and he loved his family. i didn't have any sisters. i just had the three brothers and he married when i was about 6, he married nancy and she was this dark-haired, had great petticoats and wonderful shoes and fabulous cloets and she used to give me things. that had been hers that she had worn. they were -- they were everything and had these two adorable little boys. i spent summers with them in austin, texas. i'd t

warren: i am talking to all 50 of them. i am serious. name a republican who lives in a state who represents a state who does not need an up -- that does not need an upgrade in their infrastructure. name a republican who is not struggling back home with problems of gasoline powered or diesel powered buses and trains and mass transit, highways that need repair. we can do this together. it is one of the things that is everybody's best view of what the senate ought to be able to do. work together to build a stronger future. emily: senator elizabeth warren. you are taking a live look at anchorage, alaska were u.s. and chinese officials have begun the first talks since the biden administration took office. we are seeing secretary of state antony blinken meeting with chinese party officials. we have been listening to antony blinken make some remarks. he says the u.s. is committed to continuing to lead with diplomacy. he says they will talk about human rights issues happening, concerns about hong kong and how the chinese government handled that

. >>> senator liz warren proposing a 3% wealth tax on billionaires.tential consequences of this this new tax? charlie gasparino about to break it down for us next. closing bell, we're going to see it ring in about 39 minutes. the dow has lost 50 points since the top of the hour, we're now up 33. we're keeping an eye on this market, stay tuned. ♪ ♪ it all starts with an invitation... ...to experience lexus. the invitation to lexus sales event. lease the 2021 is 300 for $359 a month for 36 month's, and we'll make you're first month's payment. experience amazing. this isn't just freight. and we'll make you're first month's payment. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you. do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realiz

warren buffett avoided controversies in his latest missive to shareholders.he 15 page letter steers clear of u.s. politics. let's get to dani burger who has been looking at the details. he avoided controversy, but disappointed some by not mentioning these things at all. how surprising was it buffett didn't address the global pandemic in detail? dani: in terms of not getting into controversies, that's not that surprising. the letter was classic buffett in terms of talking about investments, some of the big hits he had, some of his misses. he mentions the pandemic on one page but in terms of one company he invested in, a furniture company that did well despite the pandemic. if you were looking for a different warren buffett, someone who would talk about reddit, robinhood, politics, you would have been disappointed but perhaps you don't know warren buffett if you expect him to discuss gamestop. he did miss some of the topics investors care about and often, his letters are seen as an opportunity to address those big topics. in terms of u.s. politics, he did repea

stuart: senators elizabeth warren and bernie sanders are introducing a wealth tax.nk it's a tax, it's a 2% confiscation of any money you have over 50 million and goes to 3% if you have more than a billion. let's bring in gary kaltbaum. i call a confiscation. its confiscation of the report do you call it? >> and they are coming after already taxed money. imagine if you started in life, became successful end to people that never created a job or a dime of well telling you they will take 2% of your wealth away from now going forward it. it's in saving and the good news is it will never get off the ground or if they tried 2022 goodbye to the democrats and 2024 also. is complete confiscation. stuart: i'm not so sure you are right about it making them look bad in 2022. i think it will be very popular in america today you have extra billion dollars, always when is two pennies on the dollar over 50 million. is that too much to ask, that's what they will say. >> i love how they say two pennies. i believe every american loves moving up in life, loves to be successful and if i

senator warren. >> thank you, madam chair. dr. cardona, congratulations on your nomination. you are a first generation college student and for you and for me and affordable college education opened a million doors. but today students face a very different situation so i want to talk with you today about student debt. i know you know these facts but i think it helps everyone if we could just talk about them for a few minutes. about 43 million people i'm a that is one in five adults in america have federal student loan debt. is that right? >> that is. >> good. this adds up to more than 1 trillion and a half dollars and about 40% of the people with student loan debts do not have a college degree. could you say a word about what that means to them? >> well, what it means is that because they don't have the college degree may be they don't have the income potential they would've had if they had a degree in paying these bills will be a larger task and a longer process. >> on. >> yes, can you hear me? i said that students that are not able to graduate and probably would have their

what is warren's concern of calling up blackrock specifically.he really took aim at blackrock. >> she said it is nearly $9 trillion in assets and we need to look at it. this issue does go beyond blackrock itself and the asset management industry. more than one of the democrats found it very controversial when the trump administration decided to stop designating institutions as risky and instead look at individual activities. their argument at the time was this was the most prudent tool. episodic is the financial services oversight council, but yellen not budging on this issue, you can see reaction to share price. investors did not seem concerned that would be more oversight. yellen making a point to say blackrock is an asset manager. the money hold is from investors, not from depositors, so it is a different thing to focus on. annemarie: what about the rest of the hearing? any more details on their assessment together on the economy? >> pal sticking to his guns here saying higher yields's economic improvement, not anything to be concerned about,

senator warren proposed a new wealth tax to households of $150 million plus.oining us on the phone is terry haines, pangaea policy founder. what is going to be taken up in the senate, and what is going to be talked about in terms of tax increases down the road? terry: good morning, alix. they are going to take at least a couple of weeks to deal with this. what markets under appreciate is that the stimulus bill barely passed the house, and right now there is no majority for it in the senate, things at least two senator manchin of west virginia, who the white house is already irritated by. i think what ends up happening is we eventually get a stimulus, but it is closer to $1 trillion, and not the full 1.9 trillion dollars, not least because you have at least 1/3 of this bill is really not related to go it really federal -- related to covid really federal. i think that is going to strict out. you saw the minimum wage is now going to get stripped out. you will see a lot of that stuff go away. but this is going to take a little while. manchin is not backing off. de

don't take -- berkshire hathaway b shares, that's warren buffett's stock. they've got a whole lot of other stuff, and mr. buffett is probably better at picking stocks than you or i. and last but not least, phil already mentioned exxonmobil. why? because they're starting to do the right thing about climate change, but they're still going to make money from fossil fuels, so you've got both bases covered. liz: you know what? berkshire had a great day yesterday with, obviously, on the heels of what's going on, phil, certainly from his shareholder letter where they managed to just to an incredible business when it came to revenue, etc. but what about the actual soft commodities, phil? and i don't want our viewers' eyes to glaze over, but you're talking about cocoa e looking very strong, arab ca beans, now i'm really out of my league. my mom's going to start yelling at me saying, you know what? i fear for the nation when my tower's talking about copper futures -- daughter's talking about copper futures. but there are plays there, are there not? >> coffee, you and

this is elizabeth warren does it all the tile did it to face taibook and stuff like that.uld be on what they can offer workers. this drags them into a debate they don't need to be. jeff bezos probably said, be tougher and i don't think it's tough. i think it's stupid in ways. whatever the king says you have to do. even if you execute it badly you have to do what the king says. i don't know what else to say. i don't think it's smart and we'll see if the union wins. if the union wins or amazon wins, but i think -- also i supported a lot of jeff bezos aggressive stuff around sexting and things like that notable, never said anything about what former president trump was saying to them if you notice. they said nothing. former president trump was a whole lot more aggressive, if you want to talk about sort of being astonishingly without decorum towards amazon i find that interesting. >> that's a good point good morning, by the way we haven't heard this kind of aggressive strategy from amazon in a while, but the facts we are talking about twitter beef the day that an historic unio

you mentioned warren buffett who called it rat poison squared. he also said he would not short any of the cryptocurrencies, but he would look to buy puts on a basket of the cryptocurrencies' five-year-long dated put. i think it's an interesting statement in the past. charlie munger said recently it's like a fox hunt, it's the pursuit of food -- up eatable by the unforgivable. and while bitcoin is limited, cryptocurrencies, the amount of coins that they can issue, are unlimited. so that's why they're a little bit skeptical on bitcoin. i happen to side with buffett here. i do think it can go much higher in the short term, but i think over the next five years if you had a basket, if prime brokers were willing to offer puts at a fair pricing -- >> they'll be there. liz: yeah. $48,000 rat poison at the moment, if that's what charlie munger things. thank you so much. >>> look at the nasdaq, still up about 395 points right now. we need to also tackle this issue, johnson and johnson, i mean, you'd think that johnson and johnson's stock might be popping a

there's a reason that elizabeth warren and bernie sanders don't have cabinet positions and didn't getause -- >> but the labor movement -- well, this labor movement has been building and it may be according to amazon workers that create that efficiency that's made it one of the most powerful players in tech and e-commerce you mentioned $15 minimum wage this isn't just about pay. yes, amazon gives $15 minimum wage but over the last year, their warehouse workers have become essential employees worked through a pandemic and -- >> amazing, yeah. >> some missteps along the way amazon wasn't all that transparent in terms of their covid numbers. there's the whole issue of working conditions i mean, we now have, you know, documents that reporters have uncovered showing that amazon is in fact aware of drivers peeing in bottles so they can make their shifts and fulfill these demands. >> obviously, that is unacceptable if it's in fact true or to the extent it's true, it's totally unacceptable we will all agree on that. so again, we're in a competition for ideas here people are debating this issue

>> enos senator warren has put forward a wealth tax her viewers middle-class families are paying more than their fair share and those at the top are not doing their part. certainly he has that shared objective. he laid out during the campaign his own plans from fixing this which is different from senator warren but as we get to the point of discussing taxes and tax reform or reforms of the tax system that they share an objective. >> to be clear is that accurate? >> but what i am conveying is that there is a shared view they are not doing their part. and it is consistent what the president talks about a different proposal put forward different from senator warren but as is always the case democracy in action he will discuss what their views are to address this moving forward. >> so does the us support and are they concerned given his support? >> i think i had something for you we encourage the european union and uk government to prioritize pragmatic solutions in northern ireland and we encourage you to speak to those governments directly about any legal actions. president biden has bee

. >> talking of political pressure, sherrod brown, elizabeth warren, saying no, we need to keep these rules in place and built figure capital buffers, but i suppose with the rather hard-hitting news on the average ratio we got at the end of last week, perhaps we should be unsurprised. sonali: absolutely, caroline. what happens in the short-term as you get past the immediate pandemic responses and what happens in the longer-term, as you see the fed changed its strategy around the big banks, because we may see caning -- it is very politically fraught. we don't really know where the rules are going to go in the longer-term. to your point, sherrod brown and elizabeth warren have also been pretty critical of pandemic loans by goldman, given that standards were loosened during the crisis. will that kind of scrutiny spread to the other banks? you can see all the bank shares are up because immediate returns to shareholders are very significant for the banks. they have had record years, and as you saw by the results last quarter for the first quarter, that only points to better times ahead in

manus: that was senator elizabeth warren speaking.we bring you the events to look out for for the day ahead. this is annmarie's most exciting part of the show. this is bloomberg. ♪ ♪ manus: it's daybreak era. manus cranny into by. sometimes we have to check. the u.k. is set to maximize the stock market ahead of today's budget. wide-ranging reforms on london's exchanges. joining us now is dani burger. is this really new, and innovation? claire: it's not it -- dani: london catching up with all the other european and american exchanges. the idea here is that you don't require companies to suspend their shares when they acquire new ones which is the current rule on the u.k. exchanges. it's not great if you are a spac. that's the whole purpose of what you want to do. it would allow them to come in to london. it goes further than that. it gives founders of companies more control over when they list. you don't have to float as much as previously. you only have to sell about 15% of your company before it was when he 5%. it's also allowing for

elizabeth warren has said personnel policy. on the personnel president biden has put in his cabinet, what is he learning? kevin: he is a progressive. there's really no other way to look at it. i think that would be music to a lot of progressives' ears like senator warren, but look, if you look at how an republicans are on board with this stimulus despite his overtures to them, and senator shelley moore capito put it to me yesterday, joni ernst the day before that, this is a president who decided on his crowning achievement in these first 100 days of office that he would not get any republican support, and that is something that is going to continue onward and have repercussions for his future political ambitions for his agenda. lisa: if you heard that noise, it was tom keene throwing the bill at the floor, and it was quite a loud noise because it is a big bill. tom: almost as much is the amex bill. [laughter] as your monthly amex bill? i am wondering, what is inside that plan that may come as a surprise to some people that migh

which is different from senator warren's. as we get to the point of discussing taxes and tax reform, they share an objective. >> the treasury secretary said it's something they haven't decided on yet. is that correct? sec. psaki: what i'm conveying is that there is a shared view that those at the top are not doing their part. that corporations could be paying higher taxes. that continues to be consistent with what the president talked about. he had a different proposal he put forward than the one senator warren put forward. democracy in action. when it is the appropriate time, i'm sure it will discuss -- they will discuss how to address is moving forward. >> the eu is starting legal action against the u.k. for not honoring conditions. is the president concerned? sec. psaki: let's see if i have something on this for you, if not i'm happy to get something for you after the briefing. we continue to encourage both the eu and the u.k. government to prioritize pragmatic solutions to safeguard and advanced peace in northern ireland.

anchor: james warren, good to get your thoughts. thank you for talking to al jazeera.he united nations second general says he is disappointed by the outcome of the global donor conference for yemen. antonio guterres says it raised $1.7 billion, less than half of the $3.85 billion the u.n. was asking for. our editor reports from u.n. headquarters in new york. reporter: for weeks, the u.n. has been warning that yemen's dire humanitarian situation is on the verge of becoming the worst famine anywhere on earth in decades. >> today, famine is bearing down on yemen. the race is on. if we want to prevent hunger and starvation, from taking millions of lives. reporter: to avert humanitarian disaster, the secretary-general convened a pledging conference to raise almost $4 billion. while big donors did give money, in most cases, they actually reduced their contributions from a year earlier. inhe past, the country -- countries fighting saudi arabia and the united arab emirates gave the most. this year, their contributions were down too. the head of the food program warned that out

housing crisis is to pump money into the economy so that all the assets held on the balance sheet of warren buffett and other banks go up in value and people that lost a lot of wealth in 2000 in a guy rally people of color are now getting raked over the coals again through this inflationary pass at their assets in. los angeles is the symbol of the california dream the heart of hollywood cinema and the temple of luxury and yet today los angeles is the homeless capital of america in the last few years the number of homeless people has increased from 33255000 beneath the business towers the situation has become tragic. when i was a kid in lived here it was nothing like it is now i left for almost 2 decades and i came back a few years ago and it just it just blows my mind it's just going to increase because every month the cost of everything keeps going up there's no regulation so . apartment owners and landlords can raise the money you know the rent. whenever they like but nobody's paychecks are getting bigger. outraged by the situation of these homeless people gave up his job as a sales assis

i had major issues with senator elizabeth warren. as i told her in a video, i don't know you and therefore i don't judge your values. you don't know me and you can't decide that i'm a corrupt person and i'm doing this to make money because i know that is not the case. i worked for nine months day and night. wasn't paid. i didn't ask to be paid. i didn't want to be paid. i sold my shares in moderna. the one thing i decided was that i didn't want to do is selling my shares for smith-kline. i couldn't do more than that. and, frankly, now it is behind me. the one thing that counts is we have vaccines, and i'm glad i was part of the time that helped deliver that. >> brennan: bottom line: do you think america is prepared for the next pandemic? and what do you think needs to be done differently now by the current administration? >> doctor: we have to be better prepared. the preparedness in my view should, in particular, include availability of manufacturing capabilities, which means manufacturing sites, manufacturing equipment, and manufact

this is senator warren on cnbc touting this idea of a wealth tax. [video clip] sen. warren: since the pandemic, our billionaires in america having raised their wealth by $1.3 trillion. this wealth tax will raise about $3 trillion over 10 years. what people should be thinking about is what does that tell you about the top end of the wealth distribution, that a wealth tax will raise $3 trillion over 10 years? that's money we reinvest in america. host: senator warren on cnbc earlier this month. keep calling. this is the washington journal. about 20 minutes left. asking you about whether you support tax increases for corporations and high income earners. what is happening later today. at 10:00 a.m. eastern on c-span3, a hearing on the federal, state and local emergency management response to covid-19 before the house appropriations subcommittee. you can watch that live on c-span3, c-span.org, and on the c-span radio app. later this afternoon, members of the independent review committee are presenting their findings and recommendations stemming from multiple cases of sexu