It is a thursday in new york city. Im Erik Schatzker. Im stephanie ruhle. Lets talk about wall street. Times it be the best of and the worst of times at the same time . That is the question for wall secondquarter earnings season winds down. Quantitative easing is still crimping profits, new revenue is still scarce, but most of the big banks are lending more and cutting costs. Our contribute in editor with us andskype says it is a paul miller is with us from greater dcaa paul, i suspect you are not so inclined to agree with bill. Do you see positive signs . We do see positive signs. I went into the Second Quarter thinking more pessimistic than i should have been, that there are some signs of lending going on. The margins are still very skinny, you have some liquidity out there. Jpmorgan said utilizations are up two Percentage Points from the first. Wanted to dou skype only because you know i disagree with you on this golden age. But lets talk about fixed income. Fixed income numbers are
Lets say, first of all, failed state maybe yes, but look at northern iraq. The kurdish areas are prosperous. This is not only about iraq. It is not primarily about iraq. It is about al qaeda and this al qaeda in the islamic levant in iraq. And thats our real enemy. So what should we do . Yes, there is a sectarian dimension to it. But when you say sectarian, people sensibly say lets stay out of it. When you say al qaeda, they wake up and say, yes, there is a problem. The second thing i would say is we need to look for friends everywhere. We still have a few left. An awful lot of people do not believe in us, our friends and enemies. But we should be looking for them. And i would say start in syria. Sunnis in syria are the most actively fighting this isis organization. So on those insurgents in syria, that is what you would do. At least arm them. We may have reached a point where we need to do more. Would you send American Forces . I hope we do not have to. But you would not take that off
For more, i want to bring in Stephanie Ruhle. Tell me what is out for you . I am broking hearted. Im standing youre thinking youre talking about me. Clearly, Morgan Stanley is having a big morning. Trading revenues and fixed. Ncome are less than expected big drop. Not as well as they did last year were last quarter. It is better than we thought from citibank, 12 down. It was only eight percent. He is optimizing his trading assets. In this environment, they are chugging on. James forman has a consulting background and not a banking background. He beefed up his management business, banking did well, equities are outperforming goldman. Morgan stanley was in the gold room and they are making a comeback. Class of all the major wall street firms being reported, whats your big take away . Slow and steady there it anyone who thinks they will have a booming and amazing year, it is not happening or it when Morgan Stanley performs any look at the numbers, it is somewhat surprising, the revenue nu
Sectarian strikes, awful attacks. Rather than look back, what should we do right now . Lets say, first of all, failed state maybe yes, but look at northern iraq. The kurdish areas are prosperous. This is not only about iraq. The send thing to remember is its not about only about iraq. Its about alqaeda. Levant in iraq. And thats our real enemy. So what should we do . Yes, there is a sectarian dimension to it. But when you say sectarian, people sensibly say lets stay out of it. When you say al qaeda, they wake up and say, yes, there is a problem. The second thing i would say is we need to look for friends everywhere. We still have a few left. An awful lot of people do not believe in us, our friends and enemies. But we should be looking for them. And i would say start in syria. In fact, its sunnis in syria are the ones who are most actively fighting this isis organization now. So on those insurgents in syria, that is what you would do. At least arm them. We may have reached a point where
Should we do right now . Lets say, first of all, failed state maybe yes, but look at northern iraq. The kurdish areas are cross burress. Are prosperous. This is not only about iraq. It is not primarily about iraq. It is about al qaeda and this al inda in the islamic levant iraq. And thats our real enemy. So what should we do . Yes, there is a sectarian dimension to it. But when you say sectarian, people sensibly say lets stay out of it. When you say al qaeda, they wake up and say, yes, there is a problem. The second thing i would say is we need to look for friends everywhere. We still have a few left. A lawful lot of people do not believe in us, our friends and enemies. But we should be looking for them. And i would say start in syria. Are the mostia actively fighting this isis organization. So on those insurgents and syria, that is what you would do. At least arm them. We may have reached a point where we need to do more. Would you send American Forces . I hope we do not have to. But