>> and it is 4:00 on wall street. do you know where your money is? i'm maria bartiromo. we're moments away from my first on cnbc interview with bill clinton. you won't want to miss what he had to say about the looming fiscal cliff and how to jump-start this economy in the u.s. first, let's look at what we're following at the close. dow snapping a four-day losing streak after better than expected ism service numbers. can the momentum continue or will fears about europe retake center stage tomorrow? facebook falling another 4% falling below $26 a share. the stock now down better than 30%. 30% since going public at 38 just a couple of weeks ago. take a look at how we finished the dow industrials. volume anemic at the big board. 12,127. nasdaq up to 277le. and s&p 500 up 7 points, at 1285. investors were more hopeful today after the dow helped break the three-day losing streak. back with us once again, the financial network groups, nathan, david kelly, and barclays, larry kantor. how do you see this market performing in the upcoming weeks? where are the catalysts? >> it's greece and the greek election on june 17th. we have to find some solution. not really a fixing of the greek problem. we just need to put it aside for long enough to be on the mend. the u.s. is relatively strong. so i'd still be a little overweight u.s. equities, underweight u.s. income. hopefully they will come to some solution that takes europe out of the headlines here. >> you guys have to have a plan regardless of what happens. the retail investor is mia. you have a problem in europe. you've got the jobs numbers that was absolutely horrible and a market stuck in neutral probably isn't going to do anything. how do you invest, nathan? >> you don't try to make a little money here, a little money there. all of you has to be not on greece but in terms of what happens with the european central bankers. and it's moving to germany. when those banks run out of money, you're going to see a liquidity crisis. >> are we seeing money come out of the greek banks and find a home in the german bank? >> yeah, absolutely. that's going to be a big problem. i think that the solution is going to be somehow you stop the drain by saying, let's have an fdic for europe and otherwise they are going to have a much bigger problem. they will talk about the imf and before you know it we will talk about 17% of the bill. >> larry, you've been cautious here even though longer term i know you're pretty positive. how do you want to be positioned when you have all of these things looming? >> i think it depends on your time and until the greek elections are over, it's going to be very difficult for this market to perform well in a sustainable way and i also think, given the history of how the eu policy makers are reacted, things are going to get worse. i think the risk off trade is going to continue with buns and u.s. treasuries doing well and stocks becoming very rocky. i think you have to wait for that policy response. given how risk averse everybody is. u.s. treasuries at 1.5 ten-year and that's a potential for quite a bounce if they can come up with a very strong policy response. but i think their backs are going to be to the wall here. and you really are going to need to see something. >> even when you look at the u.s., i don't know how much negativity is priced into this pricing. david, some people were very surprised at how weak be things became on the jobs front. if the data continues to decelerate and show a deceleration in the economy, is that priced into the market, or no? >> i think it's more than priced into the markets. the u.s. economy is not collapsing here. what we've seen is a cumulative overreaction to each data point. we're at one of the most ex be treem markets in terms of equities that we've seen in the last few years. this is not a great environment but i'm not going to say it's close to the worst in 50 years. not because of any one day movement but because of a cumulative move. i think people need to look at relative pricing here. stocks are cheap and a long-term investor needs to think about that. >> how about the fed? the fed is going to have a role here. you watch the treasuries suck up all of the remain agency issues. you'll have people running to assets they never dreamed about a couple months ago, like corporates and high yield and then you start to see action over there. >> real quick, final word? >> i wouldn't get carried away with that. the unusually warm weather meant there were less seasonal layoffs and that you didn't get the bounce there. retail sales are solid. gasoline prices are falling. housing is doing better. in fact, i don't think the market would be making much of this except for the europe crisis which makes it all look worse. >> gentlemen, thank you very much. see you soon. appreciate your time tonight as we follow this market. the markets may have closed but we're just getting started on this special edition of the "closing bell." this european thing is having a bigger impact than people know. >> announcer: coming up, maria's one-on-one interview with former president bill clinton, from the economy, to the upcoming election. all of today's hot button issues when the "closing bell" returns. 0 you and your money. ttd#: 1-800-345-2550 at charles schwab, we believe your money should be available ttd#: 1-800-345-2550 to you whenever and wherever you want. ttd#: 1-800-345-2550 which is why we rebate every atm fee worldwide. ttd#: 1-800-345-2550 and why our mobile app lets you transfer funds, ttd#: 1-800-345-2550 execute trades, even deposit checks just by ttd#: 1-800-345-2550 taking a picture, right from your phone. ttd#: 1-800-345-2550 so talk to chuck and put those barriers behind you. ttd#: 1-800-345-2550 how did i get here? dumb luck? or good decisions? ones i've made. ones we've all made. about marriage. children. money. about tomorrow. here's to good decisions. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there. welcome back to the "closing bell." later this week former president bill clinton heads to chicago for cgi america. last night he was in new york city helping president obama raise more than $3 billion. the same group president obama has blasted routinely during his first term. a short time ago i sat down and asked him what the dynamic was like. >> it struck me when i was reading one of the headlines it said, president obama and president clinton courting new york's elite t seems like this is the same group that the president has, in many cases, beenville nizing and attacking for not paying their fair share. did this come up that he's going to them for campaign money? >> no, he said last night he said that they -- and he looked at me that they should pay more in the debt reduction program. most americans believe if we could have a long-term reduction plan that the people that got the most tax cuts in the last decade should give back a little and contribute to it. but i think that the interesting thing to me is the order you put these things in. for example, right now there's private activity is flat again, interest rates are almost zero. it cost -- american bonds are in demand even though people are virtually paying to take their money. the interest rates are a quarter of a percent on a ten-year bond. that's because people think that we are going for growth now and will have a long-term debt reduction policy and i don't think we should switch the order because the problem i have with the republican position is that they want austerity now. while we've had 4.3 million private sector jobs, we've lost 600,000 teachers, firemen, other state and local jobs because we didn't give them assistance and they all have to run on balanced budgets. but i think we should have a long-term reduction plan and you can't have a balanced budget unless you have three things. you've got to have growth, spending restraint, and an adequate revenue stream. it's just a question of how you get those things. >> what about this upcoming fis sdal cliff? a lot of people are worried and the market has been reacting to the spending programs that will expire. >> what i think they should do is to find a way to keep the expansion going but as weak as it is here, it's 11%. germany is doing well but many of which are not in the euro but they are trying to figure out a way to promote growth. and what i think we need to do is to find some way to avoid the fiscal cliff to avoid doing anything that would contract the economy now and then deal with what is necessary in the long-term debt reduction plan. >> does that mean extending the tax cuts? >> i think what it means is they will have to put everything off until early next year. that's probably the best thing to do right now. but the republicans don't want to do that unless he agrees to extend the tax cuts permanently, including for upper income people. and i don't think the president should do that. that's what they are fighting about. i don't have any problem with extending all of it now, including the current spending level. they are still pretty low. the government's spending levels. but i think they look high because there's a recession so the taxes look lower than they really would be if we add 2.5, 3% growth and the spending is higher than it would be if we add 2.3% growth. so many people are getting food stamps, unemployment,medicaid. but the real issue is the permanent extension of the tax cuts which i think is in error. >> something's got to give, though, right? if we don't deal with this in november, then you have to deal with it in 2013 and the markets and economy handle in the balance. >> we don't want to do more to rumble the markets than they already are. the europeans, in defense of them, are trying to move away in a sensible way in a way that the perception and reality that they have been too austerity driven. if you see it separately, you can see what happens in the uk because they are not in the euro zone. and i like the prime minister and current government and i admire him but they tried to do this austerity first and what happens when there's no private demand, no matter how much you cut spending, the revenues drop more and deficit goes up because the economy slows down. and that's what we have to avoid here. but what i think the president private markets needing capital and if the government is taking so much of it to finance the debt, interest rates will go through the roof so the trick is to promote growth now while they are literally zero interest rates with securities and to keep your options open to deal with the deficit in a responsible way going forward. >> what about that debate in europe and these needs in europe and that means the u.s. taxpayer money. should the imf, u.s. taxpayer money, help to bail out europe right now? >> i don't know that it's needed. i don't know yet. it depends on what the european bank does. chancellor merkel is open to change. they did it with the feeling that there needs to be extreme and there is an let's see first whether the europeans can do it on their own and what the other major countries do. >> it's pretty extraordinary that these issues are playing out around the world, whether you look at europe, the u.s., today in wisconsin we see the voters going back to the polls. you campaigned it with mayor barrett. if scott walker wins, do you think that's a referendum? tell us what you think will happen in the fall. >> president obama's got a pretty good lead in the polls in wisconsin. i think if he wins, it will mean, number one, he had a lot more money and he got a lot of money from people who agree with him that -- but the voters will think, well, i'm glad we got rid of the deficit. my problem is that the mayor of milwaukee was not supportive of the public employee unions in the primary because he also got rid of the deficit. but the difference is the governor used the occasion of the budget fight to break the union. barrett used the occasion of the budget fight to noish aigs ate with the union to drive them down to an affordable level. and that's different. also, the governor used the budget fight to both cut expenditures and cut taxes more. so he had to cut expenditures more. and i think if that message could be given clearly, i think barrett would win a narrow victory but you've got to get the advantage that goes to walker because he's got so much money. a lot of money is coming from out of state, including some from the unions to support barrett but not as much as walker has received. it's going to be a close and interesting race. >> why do you think president obama stayed away? he didn't campaign? >> i don't know. you'll have to ask him about that. but, you know, all of us have mixed feelings about recall elections and ordinary narrowly i don't support them. when we recall gray davis, i didn't support him in california. it turned out, in retrospect, i was right because it looked like they got hosed by enron and nobody knew what the deal was. when he was being in effect blamed for exploding utility rates and economic difficulties. but i think the american people have got to make some decisions about whether they want us to have shared prosperity and good times and shared sacrifice in bad times and whether we're going to do these things together or somebody is going to take a hammer and beat the heck out of somebody else. the places in america that are already back that are doing very well, their places are working together. we have a republican mayor of san diego coming to our conference who works with all of the democrats to make it the capital of america. we have a democratic mayor of chicago working with all of the republicans in banking and finance there to give america its first infrastructure bank. and i hope i clarified and i'm glad i did it. >> my conversation continues with former bill clinton next. remember when he defended romney's decision at bain capital? you'll hear bill clinton defend private equity next. ♪ [ female announcer ] you're the boss of your life. in charge of long weekends and longer retirements. ♪ ask your financial professional how lincoln financial can help you take charge of your future. ♪ [ creaking ] [ male announcer ] trophies and awards lift you up. but they can also hold you back. unless you ask, what's next? [ zapping ] [ clang ] this is the next level of performance. the next level of innovation. the next rx. the all-new f sport. this is the pursuit of perfection. welcome back. we'll have some news on facebook coming up but a few days ago former president bill clinton ruffled some feathers when we defended mitt romney's role in bain capital. i asked mr. clinton about that and he was not backing down. >> of course, you've been very fair minded and actually complimented bain capital and -- >> i have friends who worked there. >> so do you think some of these negative comments about private equity from the president is sort of working against him at this point? i know a lot of your colleagues on the left are basically saying, look, this is actually turning people off. what do you think? >> i talked to a lot of people here in new york and finance who didn't deal and securityize subprime mortgages and therefore, didn't have improperly secured derivative trades. and i have listened very carefully to what they don't like. and what i believe is important is to be as specific as possible and if you don't think there's a particular action and you can have an argument about the facts. the most important thing in this election is what will president obama do and what would governor romney do with the economy and how would they deal with people who disagree with them? would they be divide and concur or bring everybody together or do they favor austerity and more unemployment now and then adopt a budget that will explode the economy later. >> i agree with that. it seems that wealth has turned people off. >> well, the american people are remarkably one of our great chirk sticks is we don't resent other people doing well. we like it when people make money but we want them to do it in a way that benefits the overall economy. and the point i was trying to make the other day is that you have examples of private equity doing good and bad things over the last decade. you can look -- if you go in and there's a company that's not doing well, it's failing, and you buy it and you have to impose some economies there and cutbacks because you're trying to turn it around so it can thrive in the economy, whether you succeed or fail, that's a good thing to do. and you can't do it. if you go in and buy a company and intentionally load it up with debt, and people lose their jobs and retirement, and they lose the jobs earlier than they would have and they lose benefits they otherwise wouldn't have lost, that's a bad thing. so to make a judgment on that, you have to know a lot of facts about every case and i just think that we'd all be better off if we just talk about -- we've got two people running for president. what would they do? what would they do on these big issues that will affect millions of people and i think the president was on stronger ground when he went after what he disagreed with because that's something out there in the public domain. we don't have to dig for the facts. we don't have to wonder what the case was. and i just don't know enough about that other thing to have a judgment one way or the other, the case that they ran the ad on. i just don't know. >> the president talks a lot about fairness in taxation and yet the top 1% or 5% pays 40% of the tax. 50% of the people pay no income tax at all. what should tax policy look like? and if the president wants to get rid of the idea that you could turn ordinary income into capital gains, why not get rid of carried interest? why not come out with a buffett rule, where everybody who has more than $1 million gets taxed. >> first of all, the minimum tax of 30% is not all that high. if you look at the percentage of gdp going to taxes in american compared to every other wealthy country in the world, there are only -- of the top 31 countries, i think we're 29th in terms of total tax take. if you live in new york city, i don't think you feel that because they are markedly higher than the rest of the country. but as a whole in the country, we -- our tax rates are not out of line. and what the problem in having this conversation now is, when i was president we had a booming economy. most people didn't resent those tax hikes. and even middle income people were paying slightly higher taxes. >> instead of portions. >> right. everybody was. but we had a booming economy. so i think that we're in a different situation because the day before this crash occur canned, we only had 2 1/2 million private sector jobs created since i left office and health care costs soared. that's why the president i think believes that those people whose income is stagnant shouldn't have a tax hike. >> so what is your idea to get this economy back on track? i mean, everybody wants to hear what you have to say. you have oversaw an economy during the best of times. the jobless numbers on friday were horrible. how do you characterize obama's handling of the economy? >> here's what i think is happening. i think in the country you've got this european thing that's having a bigger impact than people know. all that uncertainty in europe and the fact that that's a lot of our markets, slowing down the double exports of america. >> how much is europe and how much are the president's policies? >> well, i don't think -- the thing that has cost jobs here is the congress policies. if congress had enacted his jobs plans, we'd still have more 600,000 state and local workers working. the jobs numbers would have been better there. the only part of the jobs plans that congress enacted was to take care of the payroll taxes that had been previously instituted. so i think that's a problem. i still believe that we can get a little bit quicker recovery. i think that's important. i think we could lower the base and broaden the rates and bring the money back free now if they would incest at least a portion of it and the infrastructure back where they get a very good return on the investment. very good. and then we can put the american people to work. you know, this is one thing that i think the republicans should really be for. we're one of the few countries in the world that builds almost all of its roads and bridges and other infrastructure, power lines and everything, either with tax money or with utility rates. we don't have enough private public partnerships. you can give people a reliable return far better than they can get on traditional investments today. >> and we're going to talk about this on thursday at cgi america. >> yes. >> you've come out with new ideas outside the box, like clusters. talk to me about putting a dent in this unemployment story and what we'll be hearing at cgi. >> those things are out of my control, the two things that i just mentioned. one thing i'm trying to do -- and i'm doing this more at this meeting than the last meeting. this year i'm trying to point out that there's wealth potential everywhere. and that what's working in america are these cooperative clusters, like we were talking about san diego. san diego has become the human genome research capital of america. >> and clean tech. >> now, i know that not every city can do that. they got a republican mayor. they've got the university of california at san diego and san diego state. there were 66,000 applications for the freshman class at the university of california, san diego. their acceptance rate was as low as harvard and yale. why? because they have all of these -- craig vener has his foundation there and science centers and then since nobody can see a genome, qualcomm, the biggest computer company there is headed by a very prominent democrat, irwin jacobs, a friend of mine. there are 700 other computer companies. 700. why? because they are all working together and they say, this is what we're going to do. and on a much smaller scale, jobs in missouri are coming back than a lot of towns after the tornado because they decided instead of having a grand plan, they would have a bottom up entrepreneur yell system and serve working together to open new businesses and build the housing back quicker. these are the kinds of things that are working. with rahm emanuel told me that he was going to set up an urban infrastructure bank, i wasn't sure he could do it. but i went to chicago for the announcement. there they were. all of the housing development people, republicans, democrats, independents, everybody was there together. that's what is working. so in this meeting we're going to emphasize like this group called got your six, got your back that is trying to place 500,000 veterans and spouses in jobs by 2014. veterans unemployment rate is 25% above the national average. they are going to try to place 100,000 people in mental health support jobs for all of the people that have the aftermath of posttraumatic stress syndrome. and these are the kins of things that are working. >> and my thanks to president bill clinton. reaction to that interview coming up. i want to tell you about one thing that i'm hearing. i'm getting e-mails from sources that morgan stanley is lending out facebook stock to sell short for the first time today. we've been talking a lot about this because, of course, morgan stanley had waited to lend out the stock for a short seller. last friday or two fridays ago, at least 25% of the volume in facebook stock was short sales and that was from data from exchanges and trading desk goldman sachs as well as jpmorgan. two of the firms that helped morgan underwrite this deal were among those lending out the facebook stock. but today we are learning from sources that, in fact, morgan today is lending out that stock for short selling and it's critical to know that the managers started facilitating the shorts on day one. however, it's the practice there to wait at least three or four days. in this case, they waited much longer in terms of lending out the stock. morgan stanley lending out facebook stock. my reaction to bill clinton coming up after this short break. and then robert reich joins me along with sarah to talk about what you just heard from president bill clinton. back in a moment. but when i was diagnosed with prostate cancer... i needed a coach. our doctor was great, but with so many tough decisions i felt lost. unitedhealthcare offered us a specially trained rn who helped us weigh and understand all our options. for me cancer was as scary as a fastball is to some of these kids. but my coach had hit that pitch before. turning data into useful answers. we're 78,000 people looking out for 70 million americans. that's health in numbers. unitedhealthcare. if you made a list of countries from around the world... ...with the best math scores. ...the united states would be on that list. in 25th place. let's raise academic standards across the nation. let's get back to the head of the class. let's solve this. welcome back. president clinton telling me that he thinks the tough decisions on the fiscal cliff will be put off until after the election. that could cause more turmoil for the economy and stock market. >> what it means is they will probably have to put everything off until early next year. that's probably the best thing to do right now. but the republicans don't want to do that unless you extend tax cuts permanently for upper income people and i don't think the president should do that. >> so let's get some reaction. joining me now is former clinton labor secretary, robert and sarah. thank you for joining us. you've been critical of the obama policy and what they have done to the u.s. economy. what about what bill clinton just said about dealing with this in 2013? >> well, i think the president is unfortunately right. nothing will get solved until after the election. listening to your interview, i thought you asked the right question, which is how much of it is dealing with europe and how much of it is the president's policies? and i think harvard professor robert had it right in "the wall street journal." we're experiencing lower than expected growth because the president is largely adapting policies of spending more money and not doing anything to help the private economy. >> uh-huh. what do you think about that, robert? and what's your take on president clinton's view of the fiscal cliff? >> well, i think he's right. there is tremendous danger. the likely outcome is going to be delay. that's not necessarily going to be good for the economy. that uncertainty with uncertainty over europe is going to cause continued tumble in the markets. but i don't think there's a practical option there. i think that the former president clinton is correct that the current president, obama, should not give in to republican demands. given the fiscal crisis we have to deal with over the long term. i also think he made a very important point in terms of sequencing. that is, what we do need to do in this country is do both that. is, over the long term get the budget deficit under control and in the short term not embrace fisc fiscal austerity. that's the wrong sequence. the right sequence is to do it in a slightly different order. >> go ahead, sarah. >> what struck me is how much of a republican president clinton talked about. the need for spending restraint and i think if you talk about sequencing, what will harm this economy is by raising taxes now and particularly raising them on the job creators in this country which will hurt our economic growth and have fewer people back in the workforce. >> it's interesting. robert, you say, look, don't extend the cuts for everybody. somethings that to live, right? keep fighting until the election? that's leaving the economy and markets in the balance. >> i wish there was a possibility of agreement but there subject team to be. they are as far apart today as ever before. with an election looming, i don't see any part to come over to obama side and provide tax cuts for employment that he has suggested, provide the help to state and local governments that he suggested. i think we're basically unfortunately at a stalemate until election day. what president clinton has to do with collaboration, and hopefully we will have it after election day and need it for public sector and private sector and important things happening with the imf and he's not sure whether and the ecb we've already seen action on that. >> i think he's right about that. i don't think there's any political ill will for u.s. taxpayers bearing our own financial burdens right now to turn around and bail out europe. i think germany needs more time to see what the european central bank does and see in another week or so. >> what about you? >> i'm the same. i think what the united states ought to do is take a wait and see attitude right now. the imf as well. it is really up to europe and, unfortunately, europe is in a real predicament. angela merkel is under tremendous pressure. it's not clear she will be able to pull off what is necessary. you have a situation in which there is absolutely no capacity to make some decisions as to what is the balance between austerity and growth. >> yeah, it's pretty extraordinary. we appreciate you reacting to the interview of former president bill clinton. our trio of stock pickers are back with us. that's next. an action-packed show heading your way on wednesday as well. jim grant among our lineup of heavy hitters. i'll get his take to get the recovery on track. a host of other issues. don't miss it. jim grant tomorrow at 4:00 p.m. eastern. back in a moment. moment. 1-8000 looking for support, tdd# 1-800-345-2550 resistance, breakouts, tdd# 1-800-345-2550 a few other tricks that i'll keep to myself. tdd# 1-800-345-2550 that's how i trade. tdd# 1-800-345-2550 and i do it all with charles schwab, tdd# 1-800-345-2550 because their streetsmart edge platform tdd# 1-800-345-2550 helps me trade quickly, intuitively. tdd# 1-800-345-2550 staying on top of the market is key! tdd# 1-800-345-2550 and the momentum tool, tdd# 1-800-345-2550 it lets me do it at a glance, tdd# 1-800-345-2550 so when things shift, i'm ready. tdd# 1-800-345-2550 then to track the stocks i have my eye on, tdd# 1-800-345-2550 i turn to schwab's high/low ticker. tdd# 1-800-345-2550 so i can spot a potential breakout tdd# 1-800-345-2550 before it breaks out. tdd# 1-800-345-2550 and get this...i can even trade, tdd# 1-800-345-2550 change my orders or check out my positions tdd# 1-800-345-2550 right on my chart. tdd# 1-800-345-2550 my system works for me. tdd# 1-800-345-2550 does yours work for you? 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[ whirring and beeping ] it's the at&t network -- doing more with data to help business do more for customers. ♪ the productivity report is what is on everybody's radar for tomorrow. my next guest will tell me why they think it will move the market and more. joining me is jim key and ubs' shahab. what are you expecting tomorrow? >> the answer is the ecb and boe. there's a big debate about what the federal reserve can do or should do. the productivity report provides two really important pieces of information. how quickly -- how much are our workers producing and how much are they charging to do it in the terms >> we will be watching that. you are up. 30 seconds on the block. what are you watching? >> we are looking at the ecb discussion in the morning and not really expecting anything bigot part of the ecb until july. we are looking at the facebook in the afternoon where we are expecting to see a continuing story of a muddling along economy. we think if anything is different than that occurs and markets get the pull back, we will have a good time to do bargain hunting. >> you are up. 30 seconds on the clock. >> the ecb is key for me. at a time when there was a vacuum right now, can they step up and get the rate cut? a few emergency measures that loosen the economy and ease the pain in the market right now. after that how are the regional feds seeing the economy. are they justifying? >> thank you so much and we appreciate it. we will be watching all those things when the opening bell ount e sounds. we will take a short break and we will have observations on my interview with former president clinton. clinton.the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real things... for real. ...that make a real difference. ♪ for real. ...that make a real difference. at merrill lynch, we understand the importance of your goals. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. finally, my observation on the interview we just saw with president bill clinton. someone made an interesting remark when comparing president clinton to president obama. the difference between the two, when clinton walks into the room when half of the room is republican and half is democrat, he will walk to the republicans and they will be fans of clinton. barack obama will go to his base. the the last time he came to wall street, he refused to get pictures. clinton was a uniter and obama is criticized for being a divider. he was down the middle. to fix the economy a couple of things need to happen. he believes you need to fix the whole mortgage mess. number two, tax reform. that means lower corporate rates, but broughten the base. number two, encourage companies to bring money back to the united states. that means don't double tax so they will bring money from overseas units to the united states and create jobs and make sure to bulk up the business in the united states. he also said that in order to fix the economy, we need to see a stabilization in terms of job creation and get back to growth, growth being strength and job creation and growth in the gdp. we have it out tomorrow and we will see what that number said and in the meantime, clinton talked about the number of issues that they have been talking about and that is lower corporate taxes and a broadening of the base. she not sure if the imf should be bailing out and let's see what the ecb does. most people agree in terms of the americans because there is note a lot of political will given the usa's financial condition. my observation on the interview. thank you very much for joining us. we will have another big interview to recap in the quick stat check. market sentiment is bearish. the debt crisis goes unresolved. the industrials are snapping the four-day losing streak. the s&p rising for a second day in a row up more than half a percent. materials and technology stocks will go and nasdaq setting the first two-day winning streak in over a month. 2/3 of 1% higher and well over 6% year to date. the far cry from the 17% gain and the first is giving back a fair amount for the nasdaq now that we approach mid-year. as i mentioned earlier, we will have another big interview. join us live tomorrow. that will do it for us tonight. follow me on twitter and google plus. fast money begins right now. melissa, take it away. 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