As the markets gear up for a dramatic day on Wall Street, co-host of CNBC's Squawk Box Andrew Ross Sorkin and the president's former top economic advisor Gary Cohn join Stephanie Ruhle to break down the commotion and explain what we can expect. Aired on 03/09/2020.
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Gary Cohn: People Are Trying To Price In Behavior Based On Coronavirus | Velshi & Ruhle | MSNBC
Those poor oil companies are not gonna make the astronomical profits they’re used to. No multi-million dollar bonuses this year. Poor guys
Socialism for rich a$$holes.
Crony capitalism for the rest!
They’ll still get their bonuses, have no fear.
believe me, they’ll still get paid.
Former Goldman-Sachs CEO.
Some Person he didn’t think they’d build a good economy, he just thought they’d make him more money.
@WhenToastersAttack that was basically a paraphrased response to a reporters question about why Trump was hiring so many Wall Street execs after campaigning on not being owned by them. He said they know economics and he thinks they’ll succeed in making America great again. Funny how the swampiest president ever campaigned on being anti corruption…
Some Person ah ok. Yeah, it’s sad we never seem to get a politician that means it when they say they’re anti corruption.
@WhenToastersAttack actually I liked a lot of the regulations Obama put on Wall Street, he promised a lot more but the Republicans took the House back in 2010 and they refused to do anything for 8 years till they lost the House in 2018…
Some Person well, at least he tried.
Hey, MAGAtrash?
Vlad Putin and his ex-KGB buddies are very *_PROUD_* of you.
@Jesus Says didnt lose impeachment, not gon lose election either
@cbr1thou The OrangeAnus (R – Impeached) is going to LOOOOOOOSE, MAGAtard!
Sucks to be you, huh MAGAtrash?
@Jesus Says didnt lose the fake impeachment, not gonna lose the election either. Aquitted and reelected. Boy your gonna cry n whine then aren’t you
@cbr1thou When The OrangeAnus (R – Impeached) loses, will you start that civil war MAGAfilth?
@Jesus Says not gonna lose, but you will. Prepare for 4 more years
Oil companies have literally been drilling themselves out of business for years now. I remember during the Bush administration when oil was going for almost $100 a barrel, now it’s down to $30 a barrel. That’s a direct result of over drilling motivated by greed. Don’t feel sorry for the oil industry, because they did it to themselves.
@omi god – Let me put this another way…as a Senior Business Analyst for a major bank, that telecommutes from home, and work with 7 other analysts in US and Canada, and worked though the housing bubble…I’m giving a prediction of the future, based on my knowledge.
My advice…as usual…is like casting pearls before swine in Youtube. My investment / money is safe. Perhaps you have none…so, don’t worry about it.
@Zeno of Citium Your arrogance is noted.
@omi god – Derp
Tell me again why the Saudi government is a friend of the west.
They love our cars.
I can’t stand those guys. Saudi Arabian government is corrupt. The Saudi people are really very nice if you get to know them. Most governments of the world are totally corrupt.
Saudis have one of the best intelligence agencies in the world. I’m still trying to figure out why we and our coalition had to protect their oil fields ..
The first gulf war.
“People have more cash than ever.” omg
Not we people, them people.
Kevin Kemble He’s talking about the 1%.
40% of Americans have less than $400 dollars readily available. The poverty rate in America stands at 43%. There’s tons of money if you’re part of the wealthiest 5% of Americans. The middle class is not doing that great either.
A numbers guy, not wanting to get involved with the numbers.
Did he say writing checks to average Americans is going too far? How big were the checks the banks got? What happened to the stacks of cash he spoke of minutes earlier?
markets ex-stream volatility.
He sure did say the banks were stacked with cash.
This video is an announcement that the Dollar has collapsed and Blue Collar Americans will be responsible for rewarding corporations for their fraud.
Cohn is a shill for billionaires and spins everything towards their favor. People aren’t traveling and spending because they are saving. It is because they do not have the extra funds as they need them to just get by. Many are working more than 1 job, some even 3 to make ends meet.
Exactly. Cohn is delusional.
100%! I work fulltime and haven’t been able to afford a vacation in 10 years let alone a movie at a theater, cable TV, car repairs to my barely running 1991 ford sedan, necessary dental work that I took fish antibiotics to treat! The 1 % are completely delusional and out of touch with the people of this country and this crisis is highlighting that fact!
Airline bailout! So corporate socialism is ok with the GOP? Hmmm.
Offering a loan, which is what the bailouts mostly were…. is not socialism.
Government profited off of the bank bailout loans.
If the airlines go thru, who do you think suffers?? Their sharesholders on the market suffers immediately. If they lay off staff, and you have to fly on Bernie Sanders Air Ways, you think that will work?
@Brendan O’Brien Sorry I don’t quite understand. Why is the word bailout used if they are really loans?
and if they are loans, then why don’t they go to the banks which are flush with liquidity? and do loans.
Trump did it with the farmers
@Brendan O’Brien – “Government profited off the banks bailout loans.” Meanwhile, 8 million families lost their homes to foreclosure. Millions lost their jobs and pensions. So while the banks soaked in record profits from seizing homes and pensions and thus generated a profit for the government, you are going to say that is not socialism for the wealthy? GET OFF MY LAWN! You are just downright stupid.
I can see Trump and the GOP giving a trillion dollar bailout to the corporations in this country becasue of this. More GOP socialism for the wealthy. The rest of us affected by this wont get a dime.
Last week when Trump came out and said there was “Beautiful” tests for anyone who needed one then VP PENCE came out on the very same day and said we will have tests on Monday for anyone who needed one. After they both contradicted each other the MARKETS took the biggest and quickest drop since 2008..
TRUMP IS A LYING POS
POSOTUS
trump pence is a pair with neither a smart guy or a LEADER. Oprah and Gayle or John and Paul or Abbott and Costello would do more and lead better than trump pence.
Yea, people have more cash than ever. Yea, the rich ones. That tax cut really did pay off….for them.
Peaches. . . How can you complain? My paycheck has shot up $4 a month since tRump took office. I’m rolling in cash.
No more bailouts!
If the government wants more bailouts, then let the burden fall on the wealthy.
Average working class citizens pay more of their wealth in taxes than the wealthy. Enough!!!
Andrew Newman AMEN.
Brendan O’Brien UHHH YOU DO KNOW THAT PROPLE LIKE JEFF BEZOS OR BUFFET OR WALL MART PAY LITERALLY $0 on FEDERAL INCOME TAX RIGHT?
@Andrew Newman You’re right. Why should the government have to borrow all this money from the tax payer and not just get the banks to lend the money? I guess the interest rate is lower when the government is the lender. Or maybe the banks don’t really care about the American people.
@Brendan O’Brien
The working class pays more of their wealth compared to what the wealthy pays.
If, for example, you make $50,000 a year and pay $6,000 in taxes, that’s around one-eighth of your wealth. Someone who gets more right offs who makes $500,000 a year might pay $30,000 tax dollars.
Do the math!
@Andrew Newman
Yep!
And didn’t someone pay out of their pocket a half BILLION dollars to run for president? Is just a drop in the bucket for Mike who, along with many others, got huge tax breaks from Trump.
I don’t begrudge anyone success and wealth, but when they pay less of their wealth and burden the working class, it is wrong.
Cheap gas prices are bad? Since when, what’s a matter Walstreet afraid of being broke like the rest of us.
The solution he came up with is infuriating, people don’t have money now, why would they have more next year after working less?
because, you know, tRump. Don’t need no logic when you got a tRump.
I see you pitiful liberals have no ideas. Again. Still.
Buck Melanoma Ok, cough up an idea. Trump’s economy is only great in his head, saying the market is up is pointless because the market responds to people’s perceptions of reality, and the “people” whose perceptions it responds to are upper middle class and wealthier. A vote for Trump is a vote for Putin.
@Buck Melanoma. . . .. ZZZZZzzzzzz……
@Buck Melanoma Elizabeth Warren has many plans. Donald Trump has been promising a health care plan, a perfect plan for 4 years without showing one item on it. Keep still about not having ideas.
No one is going to protect the workers, who are you kidding. No one helped when I lost my house in the 2008 bust but bail out the banks.
Irritating Indiana dude DON’t TELL me you voted for trump.
“Those who make peaceful revolution impossible will make violent revolution inevitable.” -John F. Kennedy.
Which was originally a footnote to my comment: “Revolution is Evolution denied.”
Republican: “bailout to the airlines”
Democrats: “bailout to the people”
Republican: “bailout to the [corporation name]” using poor and middle-class taxpayers’ dollars. Since Reagan. Reagan was for the Republican party then as the burning of the Amazon is to evangelicals now. He was (one of) the electoral mistakes that lit the fuse to the destruction of our species. The other one affecting us today, was Nixon. Another electoral mistake.
Walt Schmidt BACK RUSSIA COMRAD PUTIN
That’s right, lend them more money, so they can go in a hole and stay in a hole.
This administration don’t care about people. The only people they Bailed out was the Rich from paying “any” Taxes.
@Walt Schmidt have you ever been to Mexico? Terrific place😘