son. tonight, she comes outfront. good evening, everyone. i m erin burnett. outfront tonight, warning signs ignored. the fallout swept around the world today from america s biggest banks, multibillion dollar loss on risky trades. in washington, senator carl levin held a conference call with reporters about jpmorgan s shocking trading losses which could be up to $3 billion and the credit rating agency fitch slapped jp morgan with a drowngrade citing reputational risk. stocks plunged taking other banks down. the boss, america s most well-known banker was taken by surprise. here s jamie dimon one month ago responding to investor questions about bad trades and his risk management unit. it s is a complete tempest in a teapot. sophisticated, complex things. at the end of the day that s our job. invest that portfolio wisely and intelligently over a long period of time to earn income and to offset other exposures we have. well, here he is last night when it turned out that te
gas prices overnight jumped 3.3 cents a gallon on fears iranian oil, the world s fourth biggest stash of crude, could be disrupted. if iran made good on its threats to halt oil supplies, which it s promised to do, it would hurt consumers around the world. the strike team says it would send the united states into another recession with gas prices possibly hitting $4.75 a gallon, but it would also devastate iran. 80% of the nation s economy is linked to oil and gas. will it come to this? rudy giuliani was mayor of new york city during 9/11 and he comes outfront tonight. good to see you. nice to be here. let me start with this issue of the rhetoric here. do you think it s going to get to the point where iran feels threatened enough to do something like shut off its crude oil supplies? i do. it does have a devastating impact on them. they re very good at threatening. the threat i think you have to take as a real one and as we ratchet up pressure on them, they may very wel
outfront tonight, iran taking a toll. gas prices overnight jumped 3.3 cents a gallon on fears iranian oil, the world s fourth biggest stash of crude, could be disrupted. if iran made good on its threats to halt oil supplies, which it s promised to do, it would hurt consumers around the world. the strike team says it would send the united states into another recession with gas prices possibly hitting $4.75 a gallon, but it would also devastate iran. 80% of the nation s economy is linked to oil and gas. will it come to this? rudy giuliani was mayor of new york city during 9/11 and he comes outfront tonight. good to see you. nice to be here. let me start with this issue of the rhetoric here. do you think it s going to get to the point where iran feels threatened enough to do something like shut off its crude oil supplies? i do. it does have a devastating impact on them. they re very good at threatening. the threat i think you have to take as a real one and as we ratche
next year. but here s the thing, folks, both parties want this. they agree that there should be an extension of this tax holiday. the problem here is that house republicans refuse to settle for the two-month band aid, the two-month extension that has already been passed by the senate. listen. our house gop negotiators are here and ready to work with their counterparts in the senate. he s not lucy, i m not charlie brown. we re not falling for that football stunt, again. okay, lucy and charlie brown. that s what we ve come to now, kate. it can be silly season up there sometimes. but just getting more and more silly, it seems. so, is this just all for show and eventually what people want to know, whether or not this is going to get done, is it? well, it s a good question. right now there s no clear answer, to be quite honest, as it seems both sides at the moment are more dug in than ever before. as you said, the house rejected the senate compromise that two-month extension
world, number of people that connect and collaborate exploded in the last decade. i wrote a book in 2004 called the world is flat, which is about a connecting of the world. we have gone from connected to hyperconnected in terms of people that are now competing with us and connecting with us. when we sat down to write this book, i went back to the world is flat. i looked in the index and realized that facebook wasn t in it. when i said the world is flat, facebook didn t exist, for most didn t exist, twitter, 4g was a parking place, linked in was a prison. applications you sent to college. and for many, skype was a typo. that all happened in the last seven years. and what it has done is taken the world from connected to hyperconnected. it has been a huge opportunity and a huge challenge. lastly, say one thing. all of this is overlaid, interested in doris s view with a generational shift. went from the greatest