Yesterday, the best day since april. Road map begins with wells fargos john stumpf back on the hot seat today as he heads to capitol hill. There were fireworks at last weeks grilling. What can we expect today . Well have the latest news on viacom. National amusements is out with that letter saying, hey, cbs and viacom try to get a deal where both of you get together. Shares of pepsi getting a boost on earnings this morning. In a few moments well talk to the cfo in a cnbc exclusive. But first, wells john stumpf heading back to capitol hill after being grilled by senators last week on the banks unauthorized account scandal. In an hour from now hell appear before the House Financial Services committee. During q a yesterday, Committee Member lynch complained about bank execs getting off the hook. I think theres value in just getting after them. Just getting out. I dont care if you get a conviction or not. Just get after them. And make their life hell. We got to create a disincentive in thi
Demographic or socioeconomic characteristics of the people being served . First of all, and i dont know im not trying to be careful on words here, i dont know what fraud exactly. I know whats right and i know whats wrong. I dont know what the intent of all these people were. But to answer your question specifically, there was no that i understand racial or ethnicity difference other than what the communities are, because we try to have people in our banks that represent the communities. So well take racial and ethnicity off the table here. As someone who also represents a district heavily populated by seniors, im worried that wells fargo may have intentionally preyed upon those they saw as vulnerable. Do you believe seniors were purposely targeted as a result of employees stretching to meet their sales goals . In fact weve looked at because we actually capture data so we could tell that and, no, there was no disproportionate it did not in fact it was younger people, not seniors. If the
Europe, germans biggest brought to to mes by american authorities either way we will be affected, welcome to the world of Systemic Risk its back. Opec a deal to get oil prices up will they stick to it jury out oil prize down a faction today. And, of course, Varney Company is all over the election the story this morning number one, media, more apoplectic attacks on donald trump number two, liberate barrierian gary johnson another aleppo moment, three trump goes into attack mode follow hillarys money that crooked woman he says. Just wait till you see what amazon is doing you are watching it now, i have been around a long time, you dont every see anything like that Varney Company is about to begin. Stuart get out of the way from getgo slightly other opening for stocks today, Economic Growth is still well below 2 , that was news this morning, oil consider this please. The saudis opec agreed to production cut, just as 9 11 victims get right to sue saudis a coincidence . We are on it oil dow
History. Anthony joining us is former ubs banking president robert wolf. He served on three Economic Councils for the administration. Monday the economy was the major focus. Lets take a quick listen to what donald trump said. We have the worst revival an economy since the great depression. And believe me we are in a bubble. The only they can that looks good is the stock market. But if you raise Interest Rates even a little bit, that will come crashing crown. We are in a big, fat ugly bubble. Anthony mr. Trump suggesting we are in a bubble. Do you think we are in a bubble . I dont. The Housing Market has come off a little and prices are off in some areas 20 to 30 . The stock market feels a little soft but i wouldnt say we are in a bubble. The monetary policies concern me. Im glad we are going to have a discussion on where the fiscal politics should be. Liz it seems his comments were targeted toward janet yellen and the federal reserve. We have had people say there is a junk bond bubble
History. Anthony joining us is former ubs banking president robert wolf. He served on three Economic Councils for the administration. Monday the economy was the major focus. Lets take a quick listen to what donald trump said. We have the worst revival an economy since the great depression. And believe me we are in a bubble. The only they can that looks good is the stock market. But if you raise Interest Rates even a little bit, that will come crashing crown. We are in a big, fat ugly bubble. Anthony mr. Trump suggesting we are in a bubble. Do you think we are in a bubble . I dont. The Housing Market has come off a little and prices are off in some areas 20 to 30 . The stock market feels a little soft but i wouldnt say we are in a bubble. The monetary policies concern me. Im glad we are going to have a discussion on where the fiscal politics should be. Liz it seems his comments were targeted toward janet yellen and the federal reserve. We have had people say there is a junk bond bubble