We are live on the salt conference in las vegas. I am Erik Schatzker. Stephanie i am Stephanie Ruhle. Day two and we had an extraordinary run already. We will be speaking with the one and only jim cahanos. Leon cooperman at 11 00 and john burbank at 11 30. You better sit down, strapping and dont go anywhere. Erik that is one heck of a lineup. Lets start with a bulletin. Stephanie Erik Schatzker in vegas, a whole other level. Erik top business stories of the morning. Alibaba has a new ceo, daniel zhang, they chief operating officer for the past two years. He helped turn the companys single date shopping day into the biggest revenue. He replaced jonathan who will remain as chairman. He spoke earlier to bloomberg about alibabas strategy. Daniel we manage our business by creating value for longterm customers. By creating values for the disappearance for the participants, so we believe that the investors will like us as long as we continue our belief and continue creating value for customer
Closing at 4,218. This as investors fear further crackdown from regulators who are tighten irthing grip on beijings soaring markets. It was very toll avial and the emphasis of course was on the Greater China markets. Yes, we saw that action by the authorities in beijing over the weekend with a rrr and they cut it more aggressively than most in the market did expect. 100 basis points and the aim here is to encourage credit growth, to encourage bampings to to get liquidity going. Initially we did see a positive reaction. We saw china stocks up by 1 . They did reverse course and as you pointed out, down by 1. 6 at the close. Lets net forget as well that the authorities in beijing, the securities regulators are trying to take the steam out of the market rally. They clamped down on margin financing. Lets not forget this very staggering statistic, we have now surpassed the 1 trillion yuan mark. It could be a brutal one if it is corrected. That is probably the overriding factor here. That is
A republic no more Big Government and the rise of american political corruption by jay cost. My name is john samples. Icann would like to welcome you to our event today for this very important book. If you read the book florins before today come the day will proceed in many ways save his fellow other bookworms have. You would hear from some participated in the there will be a questionandanswer session about 1 00 and also one other thing like our other events, please turn off our cell phones now so we can have the event in peace and quiet. Some of the things will be different today. We are trying different to us. A different format. Into this particular case, are out there jay cost with a few general sense of the lay of the land. Mycobacteria and Chris Edwards and they will for a few minutes give you some impressions of the book and then work how much a increase will have a conversation about the spread of a little corruption in america a republic no more. I look at the administrative s
Us at comments cspan. Org or send us a tweet, tweet, cspan comments. Join the conversation. Like us on facebook, follow us on twitter. Welcome to columbus, georgia, on booktv, located on the chattahoochee river. The river served as a Major Trading post and created a booming textile industry in the citys early history. The boats would come up the river and bring finished goods like, you know, furniture, machinery or agricultural implements x the farmers from east alabama and west georgia would bring their produce especially cotton into columbus, and it would be shipped down the river. Our port on the gulf is apalachicola, and from there the cotton would be shipped mainly to england or to the textile mills in the north. The help of our mediacom partners, for the next hour we explore columbus literary scene starting with local author Dan Crosswell as he recounts the life and career of general walter bidell smith. Basically, eisenhower was the good cop. So what he needed was a bad cop and
The people who get in government think that they can centrally plan the economy as it the economy or set society was like a chessboard that the government can manipulate. That is the problem with the Big Government. So i dont think i think jays critique is the hamiltonian or henry clay kind of Big Government system perhaps could have worked in washington if we changed the institutions in washington over the decades. I dont think thats right. I think the government failed because it tries to centrally plan. A second point and maybe this is more, i thought it was interesting more bit of an agreement with j. Is that the master and the of checks and balances and that factions and extend republic our each other to the broader public good medicine and fairly, jay can correct me if im wrong, didnt see logrolling. Its a central and crucial problem in government and jay goes into this in some detail. Back to the 19th century logrolling was a huge problem with various programs. I think a discuss