Looking for continued strength. City did guide up to the higher end of the range for its credit card charge off portfolio. We are coming off extremely low levels that were unsustainable. Wells fargo is down in trading. Is that just because of the legal charges . Allison legal charges is part of it, also no visibility on operating charges. It is not surprising they are not giving any commitments at this stage. It is also not surprising that you would see a lot of charges as a new ceo comes in and tries to put the past behind them. I think the size of the legal charge was surprising to some. The question is is this it . Is there more to come . I was on and off the call so im not sure we have got a number for the losses beyond reserve or any indication on that front. The question is already getting the worst behind us. David often it comes to a reset with the new ceo. Thanks very much. Now we go to Brooke Sutherland on the boeing story. You have a great piece on the new ceo, calhoun. Broo
Tea Party Republicans do not like it but because the president is supporting it and Mitch Mcconnell said the president is anxious to sign it, it will pass. David hard to find a deficit hawk in washington. We are watching as they go through the process of enacting the legislation. Lets go to emma chandra in london. Weve heard from the bank of england, from the governor, he does not know what to plan for. Emma that is absolutely right. We heard the governor and his analyst deciding to send back when it comes to Interest Rates. What was interesting was his update of economic forecast, mark carney saying the u. K. Could follow a wide range of paths in the coming years. One of the paths not included was the u. K. Leaving the eu without a deal. It seems mark carney and his team at the bank of england unwilling to comment or prepare for a change in government policy until the u. K. Government has made the change to that policy. Mark carney quoted Boris Johnson saying earlier this week that he
cycle of dependency and onto economic opportunity. david: let s talk about the deficit reduction. maybe it will not be losing white as much money as we thought we were, but it will still be adding to the deficit. we would end up $30 trillion in the red. this is something president trump said he would turn around. what changed? mr. vought: nothing has changed. what has changed is the democrats on capitol hill have refused to consider the spending reform this president has put forward each and every year. we need congress to enact these important savings reforms. we will continue to propose them. we need things that are necessary for economic growth. done and enacted immediately. we need prescription drug legislation to be enacted. these are all things we deals nd congress to go along with and enact. the president will keep putting forward ideas and proposals to get a handle on our debt and deficit. david: which is important to all of us, obviously. at the same time, this is th
we re thrilled to welcome important business leader in america but i first must say one of miami beach s most distinguished residents fred hochberg. fred is as most of you know was chairman of the us export import bank for the full tenure of president obama s time inoffice . as a consequence he learned all kinds of lessons he s going to share with us tonight. i m personally moved by fred s whole story. the story of his mother elaine vernon, somebody i worked with for many years and fred will touch on that when he speaks and how he helped transform frankly her already incredible company into something much larger and more impactful by having a mother of that same generation whose still alive, i m amazed by that group of women who went off and did extraordinary things and now having made my way through only the first portion of his book, not to steal any of of his thunder but the idea that she bought an advertisement in 17 magazine in 1951 into what was, just moved to me deeply
pick the right candidate in november? democrats said they had to knock on a lot of doors. if he does not meet or exceed expectations, that would be a huge story. we expect him to come in first. the real question is second through fourth. joe biden is hoping for a second place. there is a lot of energy behind elizabeth warren and mayor pete and even amy klobuchar. david: who has the most to lose? it is joe biden. rick: it is the one person you did not mention. it is joe biden, who has a long track record dating back 35 years running in iowa and two previous presidential campaigns. he has a lot to lose. he was the presumptive front when he entered the latest, even though bernie has had a lot of activity. if he does not come in as second or third, he will be seen as written out of theipt. david: you talk to some of the biden campaign people, they say we always have south carolina. it is the response to what rick just said. is that in indication of they are doubtful of how they w