Do we call him dr. Sunshine. He likes to say dr. Realist. Allergan could be buying a it had a market cap of 90 million and theyre buying it for 1. 7 billion. All because the Bio Tech Companys progress in fighting a certain type of Liver Disease. We will look at what other companies could be takeover targets in that space because of this takeover here. We are keeping an eye on markets. The dow is up 50 . S p is up five. Nasdaq trying to participate. Lets get to our top story. Wells fargo ceos testimony on capitol hill you saw live here on cnbc. Testifying in the wake of the banks fake account scandal. Williford frost is in washington. He has been covering hearings all day today. And the hearing was far tougher for john stumpf summed up with this exchange. Have you returned one nickel of the money you earned while the scam was going on . And the board will i will take that as a no, then. Have you fired a single Senior Executive . I dont mean regional manager or branch manager. Im asking
And the nasdaq recouping nearly all losses from nationwide and it started with these comments from fed governor brainard. I was only kidding the apparent reversal on a lot of investors saying, what the fed so what do you do with your portfolio right now . Guy . We talked about on friday what was the movie, guy . Scarface. Not everybody is that you know. Which one was she . In the tub or anyway my bad. I dont know who youre talking about. One of the things we said on friday, the market traded down, effectively held the levels we last saw in may 2015. Lets not make too much out of this. The fed threw out a test balloon in terms of hawkish commentary and actually said that could change on a dime next week if they reverse course. I didnt think it was going to happen monday morning. But it happened monday morning. So i think were a little inaccurate in what we talked about. The market was actually rallying back before the comments were out. Im splitting hairs here. But that said, you know,
Were seeing wage growth. And some of these things that youre just labeling regulation are also why were able to be in a place to meet our commitments to rereduce emissions and meet standards to make this a safer world by having our climate problems not engulf our future. Theres a lot of things going on inside the package that you call just more regulation. This economy is a stronger economy because of the policies weve pursued. It is not as strong an economy as wed like to see. A lot of what i see as having held back the u. S. Economy is the headwinds internationally. Weve seen probably half a percentage point of gdp shaved off the u. S. Economy because demand globally has been weak. Thats one of the reasons we put so much time into trying help move the global debate towards using policy tool tools to grow the demand and economy. Weve made progress. Youre seeing a number of places around the world put policy in place using fiscal tools and monetary tools. The United States is looked to
But its more than that. Youve put them together in a way that takes us on a journey with you. Reading a book Still Matters in this age of bitesized social media and tweets and likes and so on. And there is i think nobody who has traveled in that space since its very early days when he wrote a book called siberia which almost didnt get published because his first publisher thought the internet was a fad and it was going to go away. So theres no one better to help us understand the times, the crazy times that were living in when technology seems to be bringing us more amazing innovations every day, and yet for some reason something about life doesnt seem right. So im really excited and thrilled to bring Douglas Rushkoff back. George bullen from the open Technology Institute where she is director of technology as part of new america is a perfect interlocutor to bring douglas here. So welcome them both to civic hall, and if youre interested in learning more about civic hall, go to civichal
I just want to say to our guests that its a personal privilege for me and for my cofounder, who is floating around here somewhere, to be celebrating the publication of yet another book from the brilliant and prolific Douglas Rushkoff, who seems to have produced yet more works of brilliance every year. I dont know how you do it but fantastic that you keep doing it. As an author myself, i have to say that the publication of a book is a always a really special event. There is something about taking your words and putting them on paper between slightly thicker pieces of paper that make people look at you differently. Youre now an expert. Its more than that. Youve put them together in a way that takes us on a journey with you, reading a book Still Matters in this age of bitesized social media and tweets and likes and so on. And there is, i think, nobody who has traveled in that space since its very early days when he wrote a book called siberia which almost didnt get published because first