Course. Power lunch begins now. In a week well know. Did the brits vote to stay or leave europe . This is power lunch with tyler and melissa. Im michelle carusocabrera. Brian is out today. This was the big trade yesterday. Right now the pound versus the dollar at this hour, 1. 43 is what its going to cost you. Pound is stronger again. That little yellow arrow indicates the strength of the dollar. European markets jumping sticks days before the vote. The footstse finished up 1 . A statement being made following the Fatal Shooting of jo cox yesterday. Brexit Campaign Officially suspended only for today. Lets bring in cnbcs wilfred frost who is on his way to london tonight. Tonight but not quite yet. The latest in terms of polls, the Financial Times poll of polls says 48 say theyll vote leave. 43 say theyll vote to stay. Im delighted to say that were joined now by kate, British Labor politician, a member of Parliament Since 1989. She is in the leave camp, one of the few labor members that
Are not dozens of them around the world. And i suspect that in many cases the discipline thats been applied to risk control and Risk Management are some of those clearinghouses and related organizations probably is not what it should be. I suggested, for example, that for all of those mechanisms there should be, among other things, minimal standards whereby using stress tests and related techniques, you should have a standard that would say that any one of those organizations anyplace in the world showed, among other things, have the capacity that at a given business day they could survive the simultaneous default of their two or three largest artist events. So thats pretty draconian stuff. But i think it is symptomatic of the fact that weve got a lot of work to do to get our arms thoroughly around the shadow system. Keeping in mind, above all else, that it is in my judgment a twoway street. I would agree with that. I think doddfrank try to deal with issues associated with basically tw
Punishments. Im not saying the big banks arent sinners, you would almost think theyre the only ones sinning. You would almost think washington wasnt encouraging then later demanding banks get off the lending stick and lend more. You would think barney frank wasnt making mortgages for damn near all the land. You would think congress had nothing to do with Community Reinvestment act that turned mortgage longed its head. And the financial titanic on its way. You would almost think congress and president s under both parties hadnt loosened standards to damn near a birth right. You would almost think the securities and Exchange Commission signed off on banks collateralizing the risky mortgages and selling them off to supposedly stupid investors who didnt know any better, just like you would almost forget when democrats were praising countrywide financials Angelo Mozilo as a pioneer for bringing invest officer to the masses before he was a pariah for bringing them to too many of the masses.
Punishments. Im not saying the big banks arent sinners, you would almost think theyre the only ones sinning. You would almost think washington wasnt encouraging then later demanding banks get off the lending stick and lend more. You would think barney frank wasnt making mortgages for damn near all the land. You would think congress had nothing to do with Community Reinvestment act that turned mortgage longed its head. And the financial titanic on its way. You would almost think congress and president s under both parties hadnt loosened standards to damn near a birth right. You would almost think the securities and Exchange Commission signed off on banks collateralizing the risky mortgages and selling them off to supposedly stupid investors who didnt know any better, just like you would almost forget when democrats were praising countrywide financials Angelo Mozilo as a pioneer for bringing invest officer to the masses before he was a pariah for bringing them to too many of the masses.
U. S. , so bright spot in europe, u. K. Obvious here in the u. S. , we have got a number of points, today initial jobless claims at 8 30. 9 45, loomer consumer comfort index, and at 10 00, the remember,ia fed, today is what, thursday, it is already thursday. Building permits and Housing Starts on monday came in very strong, a lot stronger than excited, so we will see what happens at 10 00. Earnings before the bell sears, dollar tree. Sears just came out with a loss per share of 5. 39. Loss share would be bigger than the one estimate we have somewhere in the neighborhood of a two dollar deficit. Mia more on that i go right to equity on the bloomberg terminal . Where is my catalog . A 79. Ectric guitar is the ken low washer, right . Comparable sales of fullline stores in the Second Quarter up by. 1 . It is yet another loss. That is again if i am counting here the sixth consecutive 11 out of 12s, and like yeah, it is ugly. When you adjust for onetime items, it is two dollars . 87 per shar