tv Risk and Reward With Deidre Bolton FOX Business September 30, 2015 5:00pm-6:01pm EDT
is lying, about what they're really growing to do and watching for integrity, this and that, might vote for person. david: kudos to kimmel. what a great idea that was to do. >> absolutely. that does it for us. "risk & reward" starts right now deirdre: the email releases getting wider. thousands more emails from hillary clinton have just been released. the details of which could hurt her struggling presidential campaign. welcome to risk and reward, i'm deirdre bolton. the state department revealing another group of nearly 4,000 emails from the former secretary of state in her dealings, late 2010, early 2011, ranging in communications from libya to palestine. fox business's peter barnes with the very latest. peter, what are you reading? >> deirdre, that's right. this is fifth release of clinton emails by the state department. latest tranche of 30,000 emails
sent through her personal email account while she was secretary of state. this is a batch of 3800 emails today, largely covering her work from late 2010 to early 2011. this time around the department retroactively redacted 21 a -- 215 of them, because they contained classified information, secret information that should not have been sent under department rules. here is one sent by one of her top aides to her on palestinian palestinian-u.n. initiatives and israeli view. it says, and notice, totally blank here now because it has been retroactively redacted, by the state department as containing top secret classified information. there is another email about talks with the sultan of oman, at the same time oman was hosting secret talks between the state department and iran about the potential nuclear deal back
in 2011. due to the redaction, we don't know if the email actually mentions the nuclear deal itself. now during the period covered by these emails, clinton was working on arab spring democracy movement, buildup to the nato intervention in libya, wikileaks release of tens of thousands of classified diplomatic cables this batch does not cover the 2012 benghazi attack, though the department turned over hundreds of clinton emails on libya to the special house committee investigating the attack of the as you know, secretary clinton said the emails went through the private account and server were not labeled classified at the time but the fbi is still investigating the matter. back to you. deirdre: there is a question of chronology. fox business's peter barnes, thank you very much. last night the former attorney general of virginia, ken cuccinelli said hillary clinton broke the law. >> it is so clear she broke the law. you don't have to be a lawyer to
line up five elements of the offense and see the facts we already know about her email and see that the two match. deirdre: democratic strategist simon rosenberg with me now, along with republican strategist, cheri jacobus. first and foremost, what do you make of these new emails? i know you heard my colleague from d.c. does it solidify in your mind that clinton broke the law? >> i think, i'm not in a position to say whether she broke the law or not but ken cuccinelli is a pretty smart guy, if he is saying she broke the law i'm guessing she probably did. the bigger problem however is the politics of this and as peter barnes just reported, more than 200 new emails are classified. so when she goes on the sunday shows or goes out there on the campaign trail says this is drip, drip, damaging, she and her husband try to blame it on republicans this is a political disaster of her own making. it is not something that will go
away. i seen quotes and tweets, statement put out by the staff, they have same talking points. she answered all the questions. time to move on. we don't need to talk it anymore. i think she will talk about, people demand she talk about it because we'll be talking about it. deirdre: picking up on sherry's points, you helped democrats get elected, what advice would you give now? as sherry says, difficult to move on from this point. >> i think democrats despite the missteps by future speaker kevin mccarthy in the last 24 hours this story is not going to go away. hillary clinton and her team to continue to try to dump everything they possibly can and everything they know out in the public to look like they're as fourth coming as possible. i don't think they have done everything they can frankly to put out information they knew about and things are discovered by reporters. when reporters discover things,
right they keep going. this will be with her. it has done damage to the campaign. but i think the big story today is not new emails, kevin mccarthy, blowing it for republicans in the last 24 hours, causing an enormous blowback on his own handling of the messaging around this issue which is going to give democrats a lot of ammunition to push off i think in the next few weeks. >> actually i don't think, i think you're really overstating what he said. he merely noted that the scandal is hurting her politically and so now democrats saying now he injected politics into this. we have to shut down the whole thing. >> there are house republicans -- >> you're making a mountain out of a molehill trying to create a crisis. deirdre: simon make your point. >> if you look at press coverage, house republicans now criticizing him all afternoon, all this afternoon. there is terrible blowback happening among house republicans. it may damage his ability to become the next speaker. >> it is not terrible blowback. there is pushback. we still have election going on on the republican side for speaker. there is going to be some people oppose him.
i think you're really grossly overstating it which i think. >> we'll see. >> democrat you want to help hillary i get that. >> yeah, yeah. >> come on. it didn't happen like that. deirdre: we'll leave it there, just for the moment. we'll continue the conversation in a little bit. first up, from domestic politics to national ones, russia started bombing rebels in syria almost no notice russia started campaign. secretary of state john kerry responded earlier. >> the united states and the coalition which continue our ongoing air operations as we have from the very beginning. deirdre: iraq and afghanistan veteran amber smith with me now. secretary kerry's strategy is all wrong. glad to have you here. russian leaders sent a message to the u.s. embassy in baghdad, saying we bomb in one hour. stay out of our way. what should the u.s. response have been. >> that is absolutely
unbelievable that a a top russian three-star general walked into the russian embassy and started barking orders to the united states. the reaction from secretary ash carter was borderline embraer askerring. that they would take russia at their word were going into syria to bomb isis but when everyone outside the administration they are there to protect the assad regime. they're not there with any interest defeating isis. the reaction to orders from russia should have been much stronger. at minimum verbally saying look you will not have one of your officials walk into one of our embassies to tell us what to do. we'll continue with our military operations. we're calling the shots. stay out of our way. don't forget who you're dealing with here. we're not ukraine. we're not baltic state or crimea. if you poke us a little too hard
you will remember just who we are. deirdre: amber, that is a great point, just as one that you made about russia saying yeah, we were targeting isis troops and isis rebels. seems from at least u.s. intelligence that may or may not be the case. seems like 50/50. you fought in iraq. you fought in afghanistan. what kind of leadership do troops need now? >> they need clearly definedded mission. if i was a navy fighter pilot right now, fighting in the middle east, fighting air campaign against isis in iraq and syria, i would be a little bit nervous knowing there was some russian fighters in the sky, not only air to ground fighters but also air-to-air inside of syria right now, without any sort of airspace deconfliction could be a recipe for disaster. there is no sort of aircraft
separation. they're operating helicopters and drones inside of syria now. i think lis military will look for serious leadership right now. so far this escalated very quickly. i don't think the u.s. response has been great just yet. >> amber, is it true, last point here, that the u.s. is now playing catch-up? >> oh, absolutely. for anyone who watched any press conferences or secretary kerry speaking to the u.n., we were taken, we were caught off guard essentiallys especially with that general walking into the u.s. embassy this morning. now i think the u.s. is scrambling to figure out a strategy, not only continue to deal with the fight against isis but now with russia in the mix what we do to insure we stay on top. we're still leading in the fight in the middle east and insuring our leadership in that region remains intact. deirdre: so glad to have your perspective, somebody who served
in iraq and afghanistan. thank you so much for the time. veteran amber smith joining us there. you heard her allude to the fact that russian president vladmir putin is a risk-taker. donald trump spoke about this very personality on "o'reilly last night." >> in terms of leadership he is getting an a and our president is not doing so well. putin is taking over what we started, he is going into syria. he frankly wants to fight isis. i think that is a wonderful thing. i said that a year ago, everybody said oh, that's terrible. if he wants to fight isis, let him fight isis. why do we always have to do everything? i say there is little downside putin fighting isis. putin wants isis out russia so has become active against isis. i think that is to our benefit. deirdre: back with me now, democratic strategist, simon rosenburg. republican strategist, cheri jacobus. i come back to you first.
if donald trump is right, if russia is fighting ice is, okay, fine. but a lot of people who have military experience saying russia is not and russia is just lying. >> we know that from today when they have been hitting rebels, u.s.-backed rebels and not isis. the 35 or so warplanes some of them are not really going after isis. they're designed specifically to keep the u.s. out. we have been snookered on this one. would appear donald trump would endorse the same type, of ankle grabbing diplomacy that our president does. that is a very dangerous thing. on top of that, remember, hasn't been too long ago that donald trump said we'll go after isis. i will bomb the heck out of them. i think he used a different word. he clearly doesn't understand the world. from political standpoint, to break it down from the republican side or democratic side, i think it hurts hillary clinton. she as secretary of state is weak.
probably helps joe biden with work on senate with focus on these type of issues. on republican side, usually governors have advantage when you're looking at a president because they're like mini presidents. we've got, governor case i can in the house, house armed service for many years and marco rubio on senate foreign relations committee and intelligence committee. politically gives advantage to those folks the clear that donald trump doesn't understand the dangers, doesn't understand putin and would be more dangerous even than obama on this. deirdre: all right. that is a very clear statement. simon, something that cheri just referenced. she said all the activity is probably good for joe biden if he does choose to officially run. what is your take? >> i want to agree this was, is not helpful to donald trump. he may know a lot about but reminds everybody he doesn't know what he is doing in terms of foreign policy.
in terms of politics everybody has to get concerned, now what do we do? clearly american policy in the region has failed. we'll have to craft a new approach. what i've been talking about is to make sure we do two things going forward. we focus on trying to achieve some kind of a political settlement in syria. also youing our game and in going after isis. i think the administration now, i think for joe biden, hillary clinton, what matters what the president does next is actually improves things and makes things better. if they don't, then it will be a liability for whoever the democratic nominee is. deirdre: and a liability for the u.s. simon, thank you very much. cheri jacobus, joining me there. thank you both for your views. >> thank you. deirdre: even u.s. ally, u.k. prime minister david cameron is confronting president obama. >> violent extreme system not unique to any one faith. no one should be profiled or targeted simply because of their faith. yet, we have to recognize that
isil is targeting muslim communities around the world. >> barak, you said, you're quite right, every religion has its extremists but we have to be frank the biggest problem we have today is the islamist extremist violence has given birth to isil, al-shabaab, al news remarks al qaeda and so many other groups. deirdre: former state department official is with me now saying president's critics are right. christian, in what regard? >> well, i think it is self-evident. in fact president obama himself has said we need to focus on ideology of our enemies but he has been uncompletely unable to name ideology. radical islam or islamism or whatever it is. farrell letter close allies on foreign affairs. david cameron is center right of british politics. if you put him in voting booth would have probably voted for obama twice. fairly devastating rejoinder to
obama. shows over the last seven years, frankly longer in the bush administration we haven't been able to name what we're fighting or what is behind the tip of the spear. if the tip of the spear is al qaeda, al nusra or al-shabaab. it's a good start. deirdre: it's a good start. some people say president obama has been hampered by political correctness. >> that's right. go back and look at fort hood which his administration called workplace violence. took five years to get purple hearts for the people wounded there. when a terrorist walked into a kosher deli in paris, shouting "allahu akbar!" killing only jews, obama called it random. he failed to identify radical islamism in any other big jihadist attacks recently. we used to be very good at idealogical warfare. we during the cold war we just didn't undermine communism by having strong military but we
did things like radio free europe and idealogical warfare. we used to good doing this. step one is being honest what you're up against. it is not islam but, islamism and defining the state and ideology. deirdre: christian whiting, thank you. former state department official joining me there. when we come back, the university of chicago is investing in conflict resolution. the person who donated $100 million to change the game will join me next. also coming up, my exclusive conversation with the person who runs the largest real estate portfolio in the world. blackstone's jonathan gray will join me. find out whether or not he agrees with carl icahn on seeing another housing bubble. >> so there's another housing bubble now? >> i think there is but you haven't seen it yet. you owned your car for four years.
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deirdre: the four-year civil war in syria is a humanitarian disaster. numerous political, military, economic, implications as well. our next guest wants to support the next generation of leaders, ones who will meet the most significant foreign policy challenges of our time. welcome, the president of the university of chicago, robert zimmer. ceo of pierson foundation, tim pierson, with me. welcome to you both. estimate, you are making a $100 million donation to the university of chicago. why are you gifting this very large, generous sum of money to this cause of addressing global conflicts? >> let me make a quick correction. this is actually a family foundation. there are four brothers, tim, tom, phillip and david.
we are all making this commitment of a gift of $100 million. so -- deirdre: happy for the correction. what is -- >> that is quite all right. deirdre: what is it about the cause that you and your brothers decided this needs our support, this needs our family's support? >> all you have to do is listen to a show like yours, open up any paper, go on internet, you can't have any takeaway other than the staggering nation of displaced refugees, migrants and , global conflicts in today's world. our effort doing something meaningful, have impact of the world as family legacy. deirdre: tim, was there a last straw so to speak in your mind? was there one event solidified
for you and your brothers the destination of this money. >> no, i don't think there was one event. we he actually have a family legacy where we have previously been the global benefactor of the nobel peace prize concert and center in oslo. so, this is something that is a family, as -- as a family we discussed as a project that began approximately 18 months ago with the university of chicago after a review of other institutions in the united states. deirdre: on that note, president zimmer, i know that the university of chicago has this track record analytic capacity in social sciences. so how will this donation prepare the students and prepare the scholars to be leaders and problem solvers? >> -- history is filled with examples of year after year of
the work of the university of chicago being focused on evidence-based, data-based analysis of policies and situations. and fundamentally, what we're able to do, because of this gift, is to bring that power, both present and past power, that great tradition on to problem of extreme importance for the world. and that is why we've been so excited about this gift from the pares sons. pearsons. deirdre: president zimmer, when does it begin running? >> work on it starts immediately. the first task to find out an outstanding leader of the program. many of the programs will begin formally next summer. and but there will be a lot of work and a lot of preparation beginning this afternoon. deirdre: president of the university of chicago, robert zimmer, thank you so much for the time. tim pearson, glad to have you with us. >> thank you. >> thank you very much.
deirdre: when we come back, we're on hurricane watch. hurricane joaquin gaining force as it approaches the bahamas. it may threaten the east coast. fox news weather team will bring you what you need to mow to keep you and your families safe. my exclusive conversation with a person in charge of $100 billion in real estate assets, blackstone's john gray. ♪
this san interesting storm, the center of the storm impacting the bahamas right now and going to continue to do that before it takes a northward turn. we're very confident in the northward turn, what happens after that is what we're going to continue to watch, and some of the models, one of our most reliable models pulls us out to the east not impacting the u.s. at all. but the other models go towards the u.s. i want to show you what i mean. european model, one of the more reliable models that we watch, and it is consistently pulling off towards the east. that could be great news for us and because it's a model we like, we can't discount it. however all of the other guidance is going toward the coast here somewhere in towards the mid-atlantic. you see this here portrayed and that gives us indication that most of the models are doing that, and this is why we're having a hard time picking between the two of these. the water is warm, windshear that breaks the storms apart
not in place for the next 48 hours. there's a chance we could be looking at a good hurricane, a category 3, maybe stronger within the next 48 hours or so. now seen the latest cone track it farther towards the west. don't look at the center of this, in the mid-atlantic, we could be dealing with this saturday afternoon, sunday afternoon into monday. could this be the strongest storm we've seen in a very, very long time. deirdre. deirdre: taking your words to heart. rick reichmuth joining us there. stocks close in a brutal quarter. gerri willis with me now with the details. gerri, we saw so many up and down days, end of the day it's the worst quarter in four years. >> cold comfort today, if you're opening third quarter statement for brokerage account, you might want to have a shot of jack daniels with you. bad news, right? 9%, that's the average that the averages have been down for the quarter. the dow down 9%. the s&p down 8.8.
the nasdaq down 8.9%. the worst performance since 2011. we have something in common with the last sell-off due to european debt. a european debt situation and offshore situation that drove down stocks in 2011. this time around, as you know, it's china, so another offshore threat to the u.s. economy. u.s. stocks, but let me tell you good news here, if you're thinking about selling off tonight, what happened in 2011 in the fourth quarter is the dow went up 12% deirdre. so you might want to wait and see what happens. deirdre: gerri willis, thank you very much. monitoring all these ups and downs for us, and gerri just highlighted. this the worst quarter in four years. my next guest says concerns with the u.s. market are overdone. find out why the global head of real estate from blackstone is my exclusive guest next. in light of the volkswagen emissions scandal, congress announcing an investigation,
large-scale, from a company you cared about in this way shape and form, affects me, it affects the 482,000 other vw owners. it's horrendous all the way around, and i'm angry and mad and it's safe to say, i speak for everybody gee, motions are running high. vw owner with me yesterday talking about volkswagen's fake emissions scandal. congress announcing an investigation into the matter. tennessee congressman marcia blackburn with me now, she is on the committee investigating. welcome congressman, glad to have you with us. what is your number one goal here? if it gets to this point, the taxpayer get paid back? >> what we want to know first and foremost is was this intentional? was it an accident? was it something that was planned? did they purposely engineer and program these cars so that the emissions system was off until it had to be triggered to turn
it on, and, you know, there are items that happen with recalls all the time. sometimes they're an accident, sometimes unfortunately you do find intent. what we want to do first and foremost is find out exactly what happened, and if it was intentional, confirm that, if it was or was not, and then look at how we move forward. we're in the process now of doing all the due diligence to actually launch the first committee hearing on it. deirdre: congressman, to what extent does the epa in the u.s. and its equivalent body in europe bear responsibility? from what i understand, it was basically left up to these car companies to monitor themselves, which just seems like asking for problems. >> well, you're exactly right about that. and this is one of the reason us that want to have light touch regulation that means something. regulations that you're going to be following up on.
see, what has happened, the bureaucracy becomes so large and they put out so many different rules, that people say, well, they can't get around to enforcing all of these, therefore, we're going to skirt them, and it appears at first glance that that is exactly what may have happened here. if you're going to put a law on the book or a rule on the book, then you have to make certain that there is a follow-through for implementing that, then conducting enforcement, and having penalties if it is disobeyed. deirdre: we will see what you find, we will see any proportional penalties. marcia blackburn, thank you for the time. good to have you here. when we come back, the person running the largest publicly traded real estate company in the world, john gray from blackstone, $100 billion worth of responsibilities is with me next.
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. deirdre: back to business, my next guest has built the single largest real estate platform in the world. it spans five continents, crossed hotel, retail and industrial properties. blackstone is the largest home owner in the u.s., john gray, leading the global real estate division, asked him where and how he is finding value. >> so what we like to do is buy it, fix it, sell it, try to find income producing real estate that has something wrong with it, where we can come with our team, capital, fix it up and sell it to the right long-term owner. this building is a great example of that. if you look at the building today, new capital come in, new
space like this where creative tenants can come here. pfr we bought it, it was in poor physical condition, the offices were dark and dingy, we have three other buildings in the adjacent area where we spent hundreds of billions of dollars, bringing in new tenants and building new lobies. it's great for the neighborhood, our tenants and investors as well. deirdre: how do you see us in the current cycle? >> so people are quick to say we're back in 06-07. it's a bubble. on the leverage side, that's not the case today. deirdre: so when you do the buy it, fix it, sell it, obviously, you have potential buyers in mind, and sometimes said at this point like a wholesale to clients. who will eventually be the buyers? >> well, everything is a little bit different. for a building like this in new york city, once you lease it up. i think it will be a long-term institutional own, could be a pension fund or commingled
fund, wants to own this for a long period of time. could be a public reit. for the businesses, a hilton worldwide, the public markets are the best. it depends on the geography, the asset class. we don't know who is the buyer. if we invest the right capital, bring in the right management, there should be a home for that asset or business over time. >> to what extent do you see marquee properties, there is one hotel you sold to a chinese investor. to what extent do you see foreign buyers whether it's china, sovereign wealth funds, whether it's any form of capital coming to the u.s., how much of that is driving your strategic decision? >> no question, large pools of capital around the world who look to the united states and say we'd love to own great assets in the places. it's true in london and paris and tokyo as well, that's a
real phenomenon they think will continue, part of that is driven by the low level of interest rates that are out there, but part of it is that real estate fundamentals in most markets are pretty good. there's generally not a lot of new supply. economies are gradually recovering, and so rents and occupancies are growing, and for investors who want to own assets for a long-term, high quality cities have a real attraction to them. deirdre: for the people panicking and saying the u.s. is slowing down, you are saying there are still attractive properties, we have blackstone buy, hold for seven to ten years, this is going to be a great return for us and our investors? >> what i say is today certainly in the public markets, the volatility seems a little overdone given the underlying fundamentals. the u.s. economy today looks pretty good, energy prices have come down, the housing market is starting to come back, technology is strong, banks are in pretty good shape.
the core u.s. economy is growing nicely, and that's positive for commercial real estate. and on the supply side, new supply of real estate in the low 1% range, so the fundamentals are good. i think that means it's a good investment environment, it's not as good however, as what we saw three, four years ago when there was lots of distress, when the banks weren't lending it all and buying assets very inexpensively. we think we're firmly in the middle of a cycle here, we think the returns can be interesting and the public markets have been probably overreacted in terms of concerns about fed raising rates, china, those sort of things. >> how do you see, let's say compare first the u.s. compared to china? >> china is coming off very strong growth not just for a year or five years but really 20 years and growth is phenomenal. they have challenges, they relied heavily on investment based growth, real estate, infrastructure and exports and want to grow their consumption
side of the economy, the domestic side of the economy. that transition hard, and you're seeing this in the number of businesses, seeing that in commodity results today, so there is a slowdown under way. i think people are painting this with a really -- sort of one brush, the reality is subtle. if you look at the consumer in china today, they're still spending. nike's results or apple's results, they've been pretty darn good. we own 29 shopping malls in china. same-store sales were up 15% this year. deirdre: with the 29 shopping malls you have core optimism that the assets perform well. you also, speaking of emerging markets, have a big investment in india. what is different between the two markets? how did you make that decision to be present in india? >> first in china, we're focused on the middle market. h and m anchored, walmart anchored centers, the luxury market is weak. transition to india, where
china we think is in a slowdown mode, india is picking up. they've made good choices on the political side, the prime minister there is pro-growth, pro-economic activity. deirdre: the biggest democracy in the world? >> the biggest democracy in the world. they have a central banker interested in getting inflation down. interestingly, both china and india have over a billion people, but china's economy is five times the size of india. there's a lot of potential in the country, they're starting to realize on that. in 2011 and 12 when everyone was negative on india we started buying office buildings, big campuses. we're the largest owner of office buildings in india and seeing terrific tenant demand. when it gets distressed like it was three or four years ago, creates opportunities. and investors, that's what we have to look for, when everybody turns negative on something, that's often when the best opportunity exists. deirdre: john gray has built a one-of-a-kind business, it is
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. deirdre: he's responsible for $100 billion in real estate assets across five continents. blackstone's john gray run the single largest real estate platform in the world. skid him if being the biggest operator is ever a detriment if any organization that large is doomed to fail? here's what he told me. >> we always remember what our business is, which is delivering great returns for investors. that starts with investment discipline, and overlaid on that, there's an entrepreneurial spirit to the place, which is where is there
a new opportunity? in japanese residential or pan-european logistics or u.s. retail. there's a push to find things in terms of time or geography that are different. and you've got to promote people who share that sort of drive and energy. deirdre: as far as internet, you said that i have to come back to this as far as where it concerns europe. i was just listening to airbnb founder say they have 80 million listings worldwide. this is a huge number, up 8 times since 2012. what does this mean when you think about hilton or any of the other property us that work on in the hotel space? >> so i think what airbnb has done is incredibly innovative. and i think they're going to be a major player for a long time to come. being that said, the hotel business is still very strong, and there's room for multiple players, multiple forms of distribution, if you look at airbnb specifically, leisure
oriented, tough to get business travelers and that model to stay at homes and apartments, and tends to be quite focused in markets where there is high room rates, you're not going to go a small town, you are less likely to do that where the room rates are low. and i point out it's a general matter, the u.s. hotel industry, highest occupancy right now it's ever had in history. so despite phenomenal growth of airbnb, the hotel industry is doing well. we think branded hotel companies have a big way to go. hilton has 720,000 rooms but another 250,000 rooms in its pipeline, it's growing very quickly, as fast as it ever has. i think airbnb is a real force but a big industry with very bright prospects. deirdre: as far as taking a bigger picture, just the way that technology is changing every single business that we just talked about, how technology is changing the hotel business as far as
consumer and leisure travelers. how do you see it as far as commercial space? do you companies need as much physical space as they did in the past? >> so that would be one negative potentially from technology, if you think about the old days in a law firm, they had books and cases and storage files, that's all disappeared. all gone up to the cloud. that's negative, that's denseification of storage but also people. it's easier in a space like this. we'll end up being much more open than traditional office space. on the positive side, though, there is a reurbanization trend where people are coming back into cities. you don't have to come out to northern new jersey and have whopper supercomputer. you have a device in your hand that has more power than that device had. you are seeing in markets like new york city, lots of companies coming back in, it's coming in, in chicago as well. in northern new jersey, the vacancy rate is 24% for office buildings.
in brooklyn, 6%. the rents in brooklyn are 2 1/2 times as high. so people want to work physically together but choosing to do more in urban areas. same thing in chicago, we bought the willis tower, the second tallest building in the u.s. because we're seeing tenants move back downtown, companies like walgreen's, united, that trend is accelerating. technology is changing things but people need to work together. deirdre: blackstone's global head of real estate, john gray. we have more after this. i am totally blind. and sometimes i struggle to sleep at night, and stay awake during the day. this is called non-24. learn more by calling 844-824-2424.
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>> there is a bubble in carl icahn's house. the kind of houses they buy in cities like new york there is a bubble. deidre: now billionaire's row. >> that is a bubble. when the stock market, some days hang that market will get killed. deidre: carl icahn -- >> he lives in a bubble world. but, the single family home, the blackstone owned are not in a bubble. they got expensive re relative s that are not as far that much, i don't think that average home is in a bubble, it used to be a bubble. it was going to fall no matter. today something would have to happen to trigger a single family home to collapse in price. that would be either a raise in rates, but it could also be a
decline in rates, if things stay like they are, a pretty good economy, not good, not bad, if rates go up all of a sudden, why would you buy an 8% mortgage. deidre: leave it there, "making money" next. >> marketing pullback from the cliff, but it was a disaster us quarter, and putin makes his move in syria, 3 i he is there o help the blood thirsty dictator that we want out. and. more leaked e-mails for hillary clinton, more signs that national security was put at risk by the main person in charge of safeguarding it, "making money" starts right now. charles: today's seesaw session saw a lot of quarter ending window dressing, the big today we were up 230 we came down,