Recognize me of my tie was fixed. Just leave it this way. I do not consider myself a journalist. I begin to take on the life of being an interviewer even though i have a day job of running a how do youity firm define leadership. What is it that makes somebody tick . Talk about your career at bank of america and how you became the ceo because i think it is interesting. To go back to your background, you are from ohio and your father was a chemist . Brian my father was a chemist. David you are the sixth of eight children. When you have eight children you share a lot. Brian you have to be very aggressive of always getting your share, lets say that. David you went to Brown University and you are the cocaptains of the rugby team. Rugby is a top sport. Tough asit is not as banking. Brian nothing more powerful to see one of those scrubs. I was never in there, because i was not big enough. It is a fantastic teamwork game. That is consistent. The teamwork, all players participate consistently.
Turned upsidedown, to be honest with you. You marvel about it, but switzerland borrowed money and negative Interest Rate. Hard to think about. Somebody gave money to switzerland, give it back less than 50 years. Japan negative Interest Rates. Germany, negative Interest Rates. Im trying to operate in a world where i have to figure whats normal. So normal to me is maybe an economy grows, the labor force and economy grows about half of 1 per year. Productivity of labors for, 1. 5 a year. Basically makes a real gdp. 2 real gdp. Add on 2 inflation. 4 nominal gdp. That kind of world, normally fed rates 2 currently 37. 5 basis points. Current government around 150 now. May take two, three years to get to those rates. That kind of world i think the market multiple would be about 17 times. People could argue 17 is too low relative to Interest Rates and inflation, or too high relative to other issue, Profit Margins and country moving to the left, those kind of things, but 17 times my estimate, 1
The nasdaq down by about 12. Because of tomorrows holiday, you do have the Labor Department coming out, releasing its weekly jobless claims numbers today. We get them a day early instead of a day late. Also today well be getting Weekly Mortgage rates. And freddie mac will report on the Weekly Mortgage rate averages as well. Lets talk about the top Global Market story this morning. It is greeces International Lenders, which did not reach a deal, and now they wont be releasing that next bailout payment. Nearly 12 hours of talks failed to reach a consensus. The imf and the central bank all going to gather again on monday to try again, but this is not necessarily good news at all. Hostess brands will proceed with a plan to go out of business. The maker of twinkies says lastminute talks with the striking workers broke down yesterday, hearing with a bankruptcy judge set for 11 00 eastern time. Then we have another string of bad news. A bad development. A very bad development. I thought for s
Intended. They use their political connections. Theyre tries to discourage everyone from coming forward. You can go out for that. Thats right. He took on the unions and he survived. If youre not afraid to go big and go bold you can actually get results. Good to have you with us tonight, folks. Thanks for watching. We start this evening with a new threat at home. The terrorist Group Al Shabaab called for attacks on shopping malls in the United States and the u. K. They are responsible for the attack on a mall in nairobi, kenya. It left over 60 people dead. This weekends video mentions minnesotas mall of america. Secretary of Homeland Security jay johnson says the public needs to be vigilant. Im sure that security at this particular mall will be enhanced in ways visible and not visible, but it also involves public vigilance and public awareness. If you see something, Say Something. Youre not telling people not to go to the mall . Im not telling people to not go to the mall. I think there