Multibillion dollar mortgage settlement deal has reportedly reached an impassion. The New York Times says the talks stalled after bank of americas latest offer of more than 12 billion fell short of what prosecutors were demanding. Apparently it fell far short, too. 12 billion isnt enough, i dont know what it would take to settle this. Take a look at that stock, down by 8 cents. In housing news, mortgage politics rising by more than 10 on the latest week. There was an increase in purchase and refinancing applications. Joe . Joining us now to talk more about House Majority leader eric cantors surprising primary defeat is cnbcs chief washington correspondent john harwood. There you are my pren. I could approach this from about ten different angles. Everybody in washington is. The establishment gop seemed to reasserting itself in a lot of different places. Obviously it couldnt do so in this part of virginia. A lot of people were talking about immigration, and that might have been his fatal
Makers here in new york city. Stephanie is on assignment to date stop you today. You will see her back shortly. There is no better place to go right now than the political earthquake in washington. As you probably already know, eric cantor was shockingly defeated in virginia last night. He was one of wall streets favorite congressman, bankers and bankers and traders believed he understood what they wanted to see happen and were among his Biggest Campaign contributors. His loss has immediate implications for a range of policy issues trickle to the business community. Latest. Ok brings us the and also with us is chuck gabriel, president of alpha partners, which advises Institutional Investors on matters of policy and politics. Hill, you are on capitol every day, and if im not mistaken, you saw eric cantor there yesterday, which had to Say Something about how he felt going into this primary election in virginia. It says a lot. He was at a gop News Conference in the morning. He was taking
Phil mattingly looks to update u. S. Licensing laws. Moves to reform veteran health care. Theres the wrapup of the General Motors shareholder meeting. What was the takeaway . Thiswas preparing for meeting. I looked over the transcripts of last years meeting and dan ackerson ran the meeting for only an hour. I thought this one was going to take a lot longer. This company is in real trouble with the ignition switch recall. A recalls 14 million vehicles this year. That is 12 times more than the number of vehicles they sold in the same amount of time. Sales have been on a steady rise. Companye clear that the only has a few hurdles to go before it has this issue, if not behind it, but at least dealt with. The messages to clear things that we need to do. Do the right things for those that were harmed. Wem committing to make sure create the right organization, the right process, so that this never happens again. Hurdles thatjor they had to clear our a congressional hearing. They will be grill
Crash victims planned a protest outside that meeting. Phil lebeau will join us from detroit at the top of the next hour. Im sure well get an opportunity to talk to him about what this is all about. Web hosting company go daddy filing for an ipo up to 100 million. It said 100. 100 million. I could help them with that if i owned the entire company. You could. You could. Thats an important word, million. Could have been priced at 100. Could have been 100 a share. Who knows half the time. Thats what makes it the job would get dull. Right. Just reading stuff without actually its almost like a puzzle, almost like a puzzle of what were trying to say. If it was just reading, none of us would be we dont want to do that. No word on which exchange godaddy intends to list on or the symbol it would adopt. Go daddy perhaps best known for one of our favorite guests on this program, future race car driver danica patrick. The company was founded in 1997, acquired in 2011, kkr and silver lake. They had
Little uptick in the market. Lets talk financials, particularly bank of america, wow another 3 . Financials are jumping. Bank of america is winner. Jpmorgan and citigroup hitting multiyear highs. Back to the levels of jpmorgan before the whole recession and financial crisis started. As far as the dow, an alltime high. Dow 10,000. Then i got dow 10,000 again after the financial crisis. Maybe dow 15,000, i dont know. Liz listen, i was jealous because i was really hoping we would have a record dow hat the day i was down there but no such luck. I think emotions are a little tempered. People got emotional. Gap was suddenly halted out of the blue and samestore sales came out. When i talk about gap, Banana Republic was a loser. Old navy and the gap was the good part. David all right. Miss 25,000 hit lady, as we celebrate nicole petallidess Record Number of hits on fox business network. [closing bell ringing] it is not the market. It is nicole petallides. They love you, listen to that they lov