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tv   Morning Joe  MSNBC  May 18, 2012 3:00am-6:00am PDT

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college for two weeks now but i'm still on a college sweep cycle. i get home at 7:00 a.m. every day. >> home from where? where are you until 7:00 a.m. young man. >> we got brian on twitter, it's really because i accidentally >> really up because i drove a hole in my hand. can't sleep. >> that's a new one. that's a new one. people drill holes in their hands. >> there's a follow up. he want toss correct us. it was a shop vac, not a leaf blower. >> talking about the bees. of course, he's sucking them in, not blowing them out. i would city like to see a glove, a mask, something on him. apparently he didn't get stung. wouldn't you get stung doing that? i don't know. suck them up. then what do you do? "morning joe" starts right now. ♪
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hello folks. some of romney's defenders say it's not fair to criticize romney for this. it's not the job of romney or bain capital. it's not their job to create jobs, it's their job to create wealth for the investors. that's true. it's their job to create wealth for investors. if it creates jobs in the process, good. if it costs all the jobs in the process, okay. it's to make sure investors get a return on their investment. that's not the job of the president of the united states of america. the job is much bigger than that. top of the hour. good morning, everyone. it's friday, may 18th. welcome to "morning joe." thank god it's friday. with us on set, msnbc and time
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magazine analyst, markal prin. "morning joe" economic analyst, you are going to make he read that? >> just read the script. steve rattner. chairman of deutsche incorporated, donny deutsche is here. >> i take a lot of heat on the show. they were five people for hair, make up, the publicist -- >> mark halperin? >> amazing. i have never seen anything like it. >> since the movie came out. >> they wouldn't let me into the make up room. just saying. >> it was nice of you to come in, donny. it was a late add. >> where is he? we want to know? >> not that we care, but we want
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to know. >> you do. >> his wife tweeted saying leave donny alone. his own loved one. >> there you go. >> before we get into the news, which we have a lot to do. you have facebook charts for us. joe biden making a great point on the campaign trail. i'm serious. >> you should be serious. he made the right point. mitt romney and bain capital were not about creating jobs. if you read every word bain capital put out, you would never find a word about creating jobs, it's about making money for investors. there's nothing wrong with that. i did that. p but then don't say you created $100,00 jobs. before he changed the business model, the kind that the obama
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people highlighted in the ad. >> the president said we saved jobs. without us, the companies would have ceased to exist. yes, there were fewer jobs but there would be none without us. >> bain capital plays a useful roll. there's a cog and a capitalistic machinery providing tougher management, better practices. we don't know whether they would have gone out of business or not. they might have dribbled along, continued to operate. they might have had more jobs than under bain. they all try to cut costs where they can. i don't think you can make a convincing case on that, either. >> we are going get to facebook in a moment. first, we have a story that we are going dive in. it's looking at super pacs, political strategists and the media coverage of it. we are going have a guest coming
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up to join us after we dive in here. yesterday, it was on the front page of "the new york times." an attack to link president obama to controversial comments by his former pastor. that backfired. a republican leaning super pac was considering launching a $10 million ad campaign to tie him to the reverend jeremiah wright. it was a 54-page report. the defeat of barack hussein obama. the ads would do what john mccain would not let us do in going after the president's relationship with reverend wright. the proposal read, the world is about to see jeremiah wright and understand the influence for the first time. now the times report says the
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plan was just one of several commissioned being considered. meaning he asked for ideas to consider by billionaire joe rickets. it continues to report saying the proposal was presented last week in chicago to associates and family members of mr. rickets. the 54-page proposal was bound with color photographs indicating -- this is the times edtorial -- that it's for beyond a discussion. they have contacted larry elder, a black radio host in los angeles about serving as a spokesman. and it calls for a group of black leaders. they have registered a domain name, character matters. rickets said he added the idea saying it was a suggestion for a
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possible direction to take. the president of the super pac says he was not the funder of the plan and he is focused entirely on questions of fiscal policy, not attacks that seek to divide us socially or culturally. romney distanced himself speaking to reporters at a news conference in florida. >> i read an article on the aircraft. i reputeuate that effort. i think it's the wrong course for a pac or campaign. i hope our campaigns can be about the future and issues and a vision for america. i have been disappointed in the president's campaign to date which is focused on character assassination. we are going take a closer look at all this. impact of the story itself. mark halperin, i'm curious because i have been on the phone with the president's super pac
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this morning, brian baker, who is going to be on the show in a few minutes. he says joe is extremely upset. he never, ever would have done this, never considered it, did not think it was a concept he would go for. this is really an unfair attack and might be a closer look at strategist fred davis and the ideas -- because he apparently worked for a lot of campaigns in the past with an impressive history. what his moral history is in terms of going after other candidates. it's not representative of joe ricke rickets. do you think this is a fair story? >> there are a lot of elements to this. >> there is, i know. >> there's extraordinary anger and frustration on the right from a lot of people who feel the president wasn't scrutinized enough in 2008. there's a lot of money out there and a lot of rich people trying to figure out how to have an
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impact in the race beyond what others are doing in the case. it was a marriage between someone with a lot of money and had an idea of how to do it. how to make money and they thought, effect the outcome of the race. i think the biggest effect of this, it's going to be much harder for anybody to come forward with ideas to bring down the president based on character. it takes a day away from romney to talk about the economy. he's got a new tv ad out today to talk about the economy. it's where they want the race. i think i have greet respect for "the new york times" and the reporters that wrote the story. i don't think it should have got the play it did given the facts. it won't be done for sure. >> ideas are ideas. i want to hear why you disagree. it was a proposal sent to joe. it was not something he blessed. >> the times today, in their
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follow up story when asked, is this something that is dead or alive. they were given the impression it's still alive. for them, that's a big part of their justification, that this was not just something they floated out there, but still being considered according to the times report. >> it's definitely a story. i would have been one of those guys. that's called a deck. you go in and present your business idea. fred davis was invited to present that. once again, it doesn't mean rickets is attached to it. it's an interesting, behind the scenes story about how strategies and ad campaigns -- >> wouldn't you want a story about a democratic super pac, too. many of them are bad. >> i think that's fair to say. having said that, there's nothing there that's not true.
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it's fascinating to somebody in the media and as a voter. it is a path to your point, a lot of strategists and people would like to take. it was a real story. >> real story but above the fold, front page story? >> as a reader, not a democrat. i picked up the paper yesterday and i could not go for it. it's not the same as time magazine with a 4-year-old breast-feeding his mother. >> 3. >> 3. >> steve rattner? >> we agree it was a story. >> you are saying it didn't belong there. >> he's saying it's a story, just the placement of the story. let's talk the placement of the story. you could have gone either way. it gives the story more importance where they place it. having worked there nine years as a journalist, you know how it
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works. it's a proposal that was being considered. it could belong on the front page, above or below the fold. i don't think it was wildly overplayed. >> it raises the question about the super pacs. it was hung around the neck of romney. david axelrod was tweeting before we were awake yesterday about how will mitt romney respond to this? does romney owe it to the media or voters to explain a story of a group to which he's not attached? >> again, i want to be careful. there's a lot of complexity here. the media tends to take associations of republican candidates and tie them around the neck of the republicans. romney has to defend every republican. less of that is done on the left. mitt romney is responsible for
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everybody who he has interaction with. they are wasting dialogue on it. it's effective for them. >> is it about the super pac or fred davis and tactics they would take? >> again, i think it makes it harder for super pacs on the right to do certain things. it's probably a good thing. it also gives you an idea, there are a lot of rich people ready to write multimillion dollar checks that want something different. i don't want to be the 15th guy running an ad saying obama is a failure. >> it's a demonstration of the only fight we have. this is an overzealous media to put the truth out there, get behind the scenes because as i said many times, it's the most frightening decision of my lifetime, a shot at democracy. >> we are going to have brian
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baker on the show in about 20 minutes. we'll take a look at that angle because they have a very, very deep response to this. emotional response. >> he's the spokesman. >> he's the head of the super pac. let's go to facebook. >> 11:00 this morning, less than five hours, facebook will trade 38 bucks a share. they are selling a 15% stake in the 8-year-old company. hard to believe it's only 8 years old. values at $104 billion. $16 billion raised yesterday. facebook is the largest internet ipo in history. they top icons like mcdonalds, citigroup, disney. this is huge. according to "the new york times" investors the u.s. alone would have bought 30 times the number of shares offered. steve, let's talk about this. $104 billion. what were their revenues last year?
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a couple billion dollars. >> revenues in the -- >> 4 billion, sorry. put you on the spot. $104 billion, could it be worth that amount of money? >> it could be worth that amount of money but only time will tell. at the moment, it is being priced above value. we have charts. do you want to do them now? >> let's do it. >> how exciting. >> i listened to the pros and cons on the show. on the proside, nobody can deny, i would not deny it is a big, real company. it's a four pillar of the internet. if you look on the right and you see the companies that dominate the internet, google, microsoft, facebook coming up from nowhere and passing yahoo! and challenging microsoft. yahoo! is having problems and plateauing out. it's my space, it's going to disappear. certain people not on the show have said that.
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on other occasions, i don't agree with that. when you turn to valuation on the next slide, get to your question, willie. facebook has $5 billion of rev nearby. it's being taken public at 20 times those revenues for the $104 market value. if you compare it to google when it went public in 2004 who had $3.2 billion of revenue. it went public. facebook held out longer before it went public. it went public seven times the revenue for a $23 billion market value. so, facebook is being priced. the way we look at it on wall street, compare 7.2 to the 20 times. it's priced at three times the market value. google is $200 billion. google is twice facebooks but ten times the revenue and ten
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times the profit. it's a value we have never seen for something like this. in terms of where does the price go? is it a good buy? it will be a good first day pop because of the demand. the stock will trade up. i don't think it will double but should go up substantially. after that, it's anybody's guess. these are the four ipos that have been done of companies in this zip code, so to speak. one of them linked in, the blue line at the top traded quite well. it has a huge first day pop. it's well above that level. the other tree, groupon, linkedinand pandora, the internet music company are down 30% to 40% from their ipos. this is what makes wall street
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interesting. >> let me jump in off the charts. interesting enough, i was offered the stock at 38 with a six-month lock up. i said we'll see you next on that. number one, it's based on future advertising revenue. we saw what happened with general motors. think of a way people consume the stock, consume the website, it's friends. we don't want ads in there. it's not like google where you are searching. by nature, the reason we consume the product is not advertiser conducive. secondly, the nature of facebook, if you watch the movie, it's the club. it's the billion dollar exclusivity now. what is going to stop a bunch of 13-year-olds from finding the next, new social media. it can be caught up. you can catch up to it, not like
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google. the one thing going for it, any business at the end of the day is people. what zuckerburg has done is assemble a great team. you are betting on this group of people. what can they do and where can they go? the structure of facebook, i have issues with. >> they pulled $10 million out because they weren't getting their money out of advertising. ford says it's how you do the ads, they are working for us. big companies are saying it's not worth it in terms of advertising. >> having said that, look at this young man on the front page of the financial times. 28. just a baby boy and i believe he is worth $19 billion now. we shall see how it goes. >> what is so annoying -- >> stop, you are jealous. >> i'm just jealous, i guess.
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>> there's a lot of things you are, donny. we don't have time to list them. >> jerry stiller and anne meara will be here. captain sully sullenberger up next. here is bill karins with a check on the weekend forecast. bill? >> looking fantastic for so many people. if you can get away with a three-day weekend or a half day today, this is as good as it gets. here is what we are dealing with. the thunderstorms have been pushed off the southeast. it's improved. yesterday, bad storms in georgia. this month, only 71 tornadoes. typically in may, we have 250 or so. we are well behind pace. we haven't had many in ten days. forecast wise, we are looking great. this is as good as it gets. bottle it up. temperatures in the 70s after a
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cool start. middle of the country warming up in the 80s to 90s from minneapolis to dallas. through the weekend, not many issues. afternoon storms in florida. the plains will dodge late afternoon storms. into sunday, this is by far the best weekend we have seen from coast to coast. enjoy it. a beautiful start from the nation's capital. you are watching "morning joe" brewed by starbucks. with the spark miles card from capital one, sven's home security gets the most rewards of any small business credit card! how does this thing work? oh, i like it! [ garth ] sven's small business earns double miles on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve the most rewards!
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what's in your wallet? - one serving of cheese is the size of four dice. one serving of cereal, a baseball. and one serving of fruit, a tennis ball. - you know, both parties agree. our kids can be healthier... the more you know. 24 past the hour. time now for a look at the morning papers. we start with the wall street journal. the club of silicon valley is now worth $1 billion. it's not as exclusive as it used to be. 20 companies backed by venture
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capital are worth $20 billion. pinterest is the latest. little revenue and no profit. the preakness stakes, bodymeister. >> i like that name. >> sunday at 4:30 on nbc. in new york a penthouse sold for a record $90 billion. it's $13,000 per scare foot. donny, were you selling? the unit is in a building under construction. the buyer is anonymous. i'm thinking. i think i know who he is. willie? >> donny is going to sell much higher than that. kevin costner talks about his family and opens up about his friend whitney houston. >> okay. that will be good.
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let's go to politico. >> former adviser to george w. bush is with us. good morning. >> how are you? >> with us in washington with politico's editor and chief, john harris. we'll start with you. we want to play this new ad. the romney campaign up with a general election add. it's called day one. >> what would a romney presidency be like? day one, president romney approves the keystone pipeline creating thousands of jobs obama blocked. romney introduces tax cuts and reforms that reward job creators, not punish them. issues order to replace obama care with common sense health care. that's who a romney presidency will be like. >> i'm mitt romney and i approve this message. >> heout lined his plan.
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what do you think? >> who likes it? >> donny deutsche. >> that's a pretty good endorsement. it's got a significant amount of money behind it. it gives an early glimpse into the themes romney is trying to promote. it's up in ohio, iowa, virginia, a little in north carolina. this is the opening bid. i was struck by a couple things. it's not the disimbowlment they want. the folks up in boston made a calculation they are going to leave the dirty look and present obama in a softer focus. >> i have heard progressives, democrats to say it's one thing to attack president obama's record but what is your plan, romney.
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what is his economic plan. >> tax agenda to make capital more attractive. >> specifically. >> reducing tax rates across the board making it easier and less expensive to invest in american companies. deregulation. putting a fine tooth comb to the regulatory regime so it's easier to deploy capital from abroad. in short, it's a very competitive regime. >> real quick, what's good about the ad, the devil you know versus the unknown. now, they are painting a picture, literally. no, this is day one. it goes after what i call a blank page scare. it's a very effective ad. >> do you think the romney campaign has done a good job sticking to the economy? we saw it yesterday. romney tried to swing back to the economy.
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>> of course they are going to try. the reverend wright uproar illustrates how hard message control is in this environment. you can make a valiant effort. it's our business that is going to drive them there. >> all right. john harris who is still stunned that we mentioned donny deutsche's endorsement of the ad. >> i don't think we expect him on the air -- >> he liked the ad. >> i don't like being ambushed. >> a minute ago, steve rattner was here. >> talk about right wing programming. >> yes. >> that's exactly what they will accuse me of. john harris, thanks so much. still ahead in sports, what happened to the miami heat? this morning, they are in deep trouble thanks to the indiana
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pacers. swarm at the ballpark. bees take over the field. bring a baseball game to a halt. sports is next. we'll be right back. [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ] [ male announcer ] we began with the rx. ♪ then we turned the page, creating the rx hybrid. ♪ now we've turned the page again with the all-new rx f sport. ♪ this is the next chapter for the rx. this is the next chapter for lexus.
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welcome back to "morning joe." let's do a little sports here, start with the nba playoffs. the heat's second round seemed like a step on the road for lebron james and company. there's nothing inevitable. for the heat's playoff future. wade could not buy a basket. not a single one. missing left. missing right. no points in the first half. it's the first time he's happened in 95 playoff games. the pacers tied at 43 at the break. third quarter. dwyane wade taking frustration out. wade finished with just five points. they can't afford that without chris bosh. the big fellow out of georgetown, 19 points. 18 on the board. good pass. the pacers are up 20 points. pacers blow out the miami heat,
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94-75. they are up two gays to one. game four in indiana. danger time, they go down 3-1, they are in deep, deep trouble. the leading scorer was 25. lebron had 22. wade had five. it's the first time in 25 playoff games that the heat's leading scorer had not been wade, james or bosh. the spurs beat the clippers 105-88. they are up 2-0. they lost 16 consecutive games. they are on a roll. baseball, as, elvis pops up. makes a dive and catch it looked like, anyway. he says he trapped it. everybody is safe. bob melvin comes out. normally you get run pretty quick with gestures like that. the umpire had some patience,
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heard out melvin for a minute. now it's time to hit the showers. diaz hesitated to throw him out. he was wrong. mccarthy made a diving catch. rockies taking on the dbaccs. they had to figure out what to do with the swarm of bees. check it out. we are going to get a shot. it's like a full hive there. we bring out the old shop vac and suck them in before you can resume play. the diamondbacks won the game after they got the bees taken care of. >> look at that guy. >> look at that. he just walks into the hive. nothing on his arms and face. we are going have more on the
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republican superpac going after president obama and the comments made by jeremiah wright. should it have made front page news on "the new york times"? that's next on "morning joe."
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welcome back to "morning joe." it's 40 past the hour. a beautiful shot at capitol hill as the sun comes up over washington, d.c. joining us now from washington, we have the president of the ending spending action fund, brian baker. thanks for coming on this show. >> thanks for having me back here. >> we are talking about a very complicated story that started with "the new york times" article that generated a good deal of debate on the set as we started the show. i would like to bring you in
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because we are looking at the super pac that you run that is funded by joe ricketts and pro po sal that came from the strategist to your super pac and was presented to the family. now, the proposal was to go all reverend wright on president obama and use the reverend wright issue against the president. i would first like to go through a few key details for you. first of all, did fred davis present the plan to him? >> he did not present it to joe. he presented it to myself, pete ricketts. >> he presented it to you and several family members? >> that is correct. >> when did he do that? >> last thursday, may 10th in chicago. >> okay. did fred -- was he asked to present proposals to the family and your super pac?
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>> sure. in the spending action fund requested proposals from media vendors. fred is one who was asked to present a proposal. we never asked for a proposal based on reverend wright, however. >> when you got the proposal, what was the reaction of the family members and yours? was it immediate? >> i was immediately troubled by the proposal. it surprised me. we run an organization based on fiscal responsibility. they know we asked for a document based on ending spending, fiscal responsibility and jobs in the economy. this is far afield from that. it was so far afield, they were going to set up character matters. that was the first we heard of it. we didn't author this plan or proposal. we didn't commission anything based on reverend wright. he would never do anything to
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divide the country like that. his policy is restoring economics to our country. that's why it's deeply troubling and unfair. >> i want to read part of the article. some argue it's a backhanded way to get things out there. i have been contacted by conservatives saying this is all joe ricketts and what he planned to dochlt by the way, i would like to point out earlier in the piece the strategists, fred davis, already contacted a black conservative radio host about serving as a spokesman for this campaign and this was really well under way. the proposal indicates he was more than a passing participant. it opens with a quote saying if an advertisement about reverend wright produced four years ago had aired, they never would have
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elected barack obama. a note about staffing for the effort reads, with your preliminary approval, we disc s discussed this plan with team members. all are ready jump into action upon plan approval. is "the new york times" reporting absolutely wrong or were the plans in place and were there conversations? >> "the new york times" is not reporting there were plans in place. i believe "the new york times" makes clear we did ask for a proposal from strategic perception, his firm. never on reverend wright. if i can back you up and talk about the process, in talking to the media firms we went to, all of them in a process to get business showed previous ads. they did show one ad that was prepared for the mccain campaign and rejected by senator mccain. he did respond to the ad.
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that is in no way an inference, suggestion or request for anything like that that we have a proposal based on reverend wright. the policy goals have always been and exclusively are related to fiscal responsibility. we never asked for anything based on reverend wright. i never spoke to the man. i don't know who he is. this is all the work and proposal of strategic. that was a meeting we said hey, we like the work you have done in the past, we are interested in a proposal from you. it was a proposal based on a rough budget of $10 million. that was it. >> i want to ask you about "the new york times" coverage of this then let the round table jump in. we have known each other for a couple of years. you called me last night and we spoke this morning at 5:00 a.m.
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the only word i can really bring to the way you were describing the way joe ricketts feels is that he's extremely upset this came out this way. do you think "the new york times" coverage was fair? do you think there's anything to the story? how would you characterize the way your super pac and joe ricketts is. >> thank you. the world is full of bad ideas. this is one of them. this wasn't a proposal we requested at all. we never funded it. i tried to make it clear to "the new york times." i got the proposal on thursday. i never spoke to him about it. when i was called for comment, i made clear it was different than what we asked for. the document acknowledges that. we wanted something based on spending, jobs and the economy,
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not anything based on these types of matters. so, i'm not going to judge "the new york times." i will say, i feel like it was a bad idea. to call it the ricketts plan is unfair. the family is an open and welcoming family and committed to responsible, honest dialogue. they are incredibly generous. it's deeply hurtful and unfair to the family to have anybody suggest they want to do or support anything like this. it's just not try. >> brian, it's willie geist. good to have you on this morning. i want to bring up something you said a minute ago. on page 46 where it reads with your preliminary approval we discussed this plan and lists the people included in the discussion. what was approved at that preliminary meeting? i assume it's the may 10th meeting in new york. what did you approve, exactly.
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>> as you know, you need more than good tv ads, you need pollsters and different vendors. we talked different vendors and asked for recommendations of who we would work with. i understand she never discussed the plan with them. they never discussed the plan and was not aware of it at all. i'm not trying to be critical of it. i'm trying to make sure people understand we didn't request the plan, we didn't approve it. we had nothing to do with the suggestion of reverend wright. we are interested in working with you. we need to see a proposal. we gave no permission, no funding. no dollar has been paid for this plan. we never put them under contract. we simply said we would like to work with you. give us a proposal. >> brian, let me broaden the conversation and go to dan seymour. i have a statement from "the new york times" as well. you work for the romney
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campaign. separate from the super pac affiliated with the story. fred davis, the one who brought it to the super pac. i'm curious who gave the report to "the new york times." let me ask you, as a romney person what did you think when you saw this on the front page? >> i was stunned that it was on the front page, above the fold of the new york times. in the political business, there are a million harebrained ideas being pitched by consultants. 99.9% don't warn mainstream coverage let alone what the "times" gave it. it was a strategy that was never considered by anybody. the idea that people were giving it the prominence they were getting it and trying to get romney to own it. my mid-morning, romney said this is not something i want in the
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campaign. we have 4 hours of breathless news coverage fueled by the "times." it's an issue. >> mark halperin, they stand by their story. your thoughts in terms of the coverage. >> well, i said earlier in the program i thought it was too big given the circumstances. i want to ask about the coverage, brian. the times, very important sentence in their story today says on wednesday you were asked in an interview whether he rejected the advertising proposal. they quote you saying no decision had been made. i think it's a hinge statement there. if you said on wednesday in conjunction with the plan there was no decision to reject it, it's that accurate? did you tell "the new york times" you had not made a decision to go with the plan or not? >> what i said to "the new york times" and i tried to make clear i had not spoken to mr. ricketts
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i did not think it was worth consideration. joe was not at the meeting. i never spoke to him about it. what i said was it was so far afield to what we wanted. i pointed him to i know you wanted something related to spending and we are giving you something related to character. it's one of many proposals. i meant we would not be doing it. i could have been clearer, yes. when i said no decision has been made, that meant we are not moving forward. >> you communicated no decision was made about what you would do. you tried to convey the plan would not be considered? >> what was your personal opinion? i said listen, my personal opinion said we know you asked for something related to spending and we gave you character. i discussed the bipartisan work. i have been on "morning joe" talking about our work and
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democrats doing spending and going after them when you don't. our work and mr. ricketts support. i went into great detail showing them we wanted nothing to do with reverend wright. the key issues in this economy, this election today are jobs and the debt and the debt crisis. that's what i wanted to be focusing on in the 2012 election. >> we'll have you back to do that. ryan baker, thank you very much. you are from the ending action fund. thank you for coming on the show this morning. >> thank you. >> we'll be right back. for three hours a week, i'm a coach.
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oh, yes. it is time. >> it is time for the we can in review. >> at number three, magic wand? it's a weird game, you never know. during wheel of fortune college week, a young man named zach dealt a blow to oregon's reed college when he suffered a meltdown on a gimmee. oh. >> the and looked so -- >> as preschoolers across the
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country filled in the blanks from their highchairs, he locked up in game show and youtube history. >> magic -- yand, sand, fand -- wand. oh! >> over on jeopardy where the puzzles are more difficult, chris matthews refused to take no for an answer from trebek. >> full name of the u 2 pilot shot down in 1960. chris? >> who is gary powers. >> we need the full name. >> who is gary powers in. >> no. >> at two, chinese surveillance video. a couple weeks after a young woman vanished into a hole in a chinese sidewalk, a dude in eastern china got lit up when he
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strolled in front of a tractor trailer. he dragged for several feet under the truck but somehow walked away with minor injuries. no word if the old guy recovered in tinl to rejoin the cast of this chinese dance show. ♪ >> and the number one story of the week -- >> my mother and father dreamed as much as any rich guy dreams. >> a week after pushing president obama to support gay marriage. >> i'm sick of the way president's are always riding me. i'm an adult. >> i been there. i been there. i used to catch grief all the time for president cheney. >> biden was on the road pushing the campaign message of mitt romney a 1%er. >> they don't get us. they don't get who we are. >> all that hollering put the
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vice president in the mood for a little dq. >> no vice president -- i assume they were talking financial assets. >> president obama was in new york facing "the view's" semicircular firing squad. >> which kardashian was married for 72 days. >> that would be kim. >> very good. >> the president very much better on that quiz than zach did on his. >> yand, sand, kand. >> wand. oh! i should be arrested for crimes against potted plant-kind. [ clang ] my house is where plants came to die. ♪ but, it turns out all i was missing was miracle-gro potting mix. it's got what a plant needs. even plant food that feeds them for up to 6 months. you get bigger, more beautiful plants. guaranteed.
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cause we want to show them something new. you ready? let's go. walmart can now convert your favorite dvds from disc to digital. no way. if hulk smash disc... it's no big deal. now you'll never break them, scratch them or lose them. we can use that. you'll never break them. so what do you guys think? we love it. it's only two bucks per disc. that's cool.
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governor romney seems to go both ways now. kind of amazing. he said, quote, i'll take a lot of credit for the fact that the industry's come back. whoa! by the way, i'll take a lot of credit for a man having landed on the moon because otherwise in school, i rooted for. that's what he said. look, folks, the president and i are completely confident, completely confident letting you judge who brought the automobile industry back. >> look at that beautiful shot. beautiful weekend coming via new york city and the tri-state area
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and hopefully far, far beyond. welcome back to "morning joe." mark halperin is joining us at the children's table. it's okay, you can have dessert with the other children. joining the table, the u.s. managing editor, gillian tett and andy serwer. in washington, senior national correspondent, joshua green. >> can we have a head count? seven or eight? >> halperin, sorry. josh had a great piece we are going to get to. he writes about the single biggest problem facing congress and in washington. we'll get to that in a moment. first, at 11:00 this morning, facebook will begin trading at $38 a share. the social media giant is selling at a 15% stake in the 8-year-old company valued at $104 billion. gillian is shaking her head.
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with $16 billion raised yesterday, facebook becomes the largest internet ipo in history and one of the biggest ever. the market value tops mcdonalds, citigroup, amazon and disney. demand for a piece of the action was huge. according to "the new york times," investors in the us alone would have bought 30 times the number of shares offered. still we have doubts about the ability to bring in advertising revenue. they are trading atmore than 100 times what they earned last year. he will be worth $19 billion after today's ipo, which makes him the 29th richest person in the world at 28 years old. >> 28 on monday. >> yeah. okay. let's go around the table here. gillian, he's on the cover of your paper. tell us what's at stake here and what some of the risks are, potentially. >> here is a key question to ask
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if you want to buy facebook shares. do you want to get ads on your blackberry phone, whatever? the big issue challenge facing facebook is when moving toward mobile, it was designed as a pc operation. can it transplant on to mobile devices effectively? it bought instagram. it's trying to do that. can it sell ads? it's managed to a degree on pcs, the big question is, does anyone actually want to get an ad on their mobile devices or not? unless it finds a way to crack that -- >> i would say the answer is no. do you want to? >> i don't want to. i do not want to get ads in my blackberry. >> do you want ads? >> we get them when you get pushed out newsletters and e-mails. there's some of that already. there's a couple issues. it's an amazing company and story. it's going to be a wild and
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crazy day on wall street. facebook is a successful company that is going to keep growing. the valuation is another story. you suggested 100 times earnings. it's a very, very expensive stock. other companies came out and continue to be successful like google and apple. if you are going to buy it after it started trading, watch out. the people who got in on the ipo are going to make money. i think it's going to be in the 50s, 60s, going at 38. it's going to be rich. harder to sustain that. no one really knows. >> the big question, how are they going to make money. you know? it's one thing to be the cool kids on the block. unless you can find a way to do it through advertising -- >> they are making $1 billion off $4 billion revenue. they are making good money. you are right. removing the mobile, mobile,
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mobile, mobile is a world. absolutely. >> one positive piece of news, they have a currency to buy companies. there could be a lot of wealthy company that is are going to be angel investors. there's going to be a lot of people, both the angel investors who will have cash and facebook who has stock to buy companies. you are going to see huge valuations for start ups. >> what you are seeing is technology go through different stages. each stage of the process, you have a new gate keeper come up to control or dominate that segment. whether it's computers, pcs, ipads now we are looking at social network. things keep changing so people can look ahod five, ten years and say blackberries and iphones today, what is next? >> isn't -- i have to say, i have tried facebook and shut it down. it's too overwhelming. i'm a little behind. isn't it kind of a personal
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space where you share information with people you know? ads. i could see that not necessarily being something people want. it could be me. i could be different. do you love the ads that come to you by e-mail? i erase them, then i have to clean out the trash. it clogs up everything. i don't want ads in my e-mail space. i don't think i want them on facebook. >> if you click on a video online and there's an ad, i go to something else. i have no tolerance for it. >> very angry. >> do you think, josh, down in d.c., steve rattner showed us charts comparing google with groupon and pandora and the direction they took. is facebook more google or groupon? >> it's more google. it has more endurance. i think it could run into the same problems google has and other companies microsoft has in
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washington with regulators concerned of invasion of privacy and sharing information. leave it to washington to jump in and stomp on the businesses. they are gonna. when you target that big. >> mark halperin is always friending people right and left. >> it's why you shut down facebook. >> couldn't take the halperin engagements. >> i use facebook as often as jim back us does. i agree with what donny said. they are too big to fail right now. too many people are using it. i don't see them as being a natural vehicle for advertising as google. i don't see, right now, there are a lot of smart people working there, how they branch out and find businesses where advertising might find a more hospitable place to live. >> it's what we say about apple, they are not going grow, that's
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it. of course that was steve jobs who was able to come up with the next thing. >> mark zuckerberg. >> he's 28. he's come up with something. >> they are working 24/7, they are smart. they understand social. human behavior is very important. we know that. still, i wouldn't count them out. >> no, no new york cio. just questioning it. an easy way to fix josh, get ri filibuster. let's take only the obama presidency, had the filibuster not applied a market based system to control carbon emissio emissions, vitalize the technology sector and charge others to do the same. the new health care law would have a public option. children of undocumented immigrants who served two years in the military could become u.s. citizens. women pay less because of their
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gender would have broader legal recourse against employers. billionaires would not be able to manipulate the system. dozens of vacant judgeships would have been filled. this no filibuster fantasy might strike leaders as no deal. they'll be the frustrated ones. is that where the gridlock comes from, josh? >> i think a lot of people look at washington. if you look at poll numbers they are more and more frustrated. it's a fact, washington doesn't work. the filibuster is one reason. one is senators don't like to give up their own power. another is that it's really, really, frankly, boring. most people would rather stab themselves in the thigh than worry about filibuster reform. a lawsuit came out claiming it
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was unconstitutional. harry reid came out and indicated for the first time he might be serious about doing something about this, finally. >> dan? >> josh, in the first two years of obama's term, didn't you have what you are describing? a democratic majority and some who voted with the democratic caucus enough. big things got passed. the stimulus, dodd/frank passed. it's not like his agenda, while it may have been modified, the big ticket items were passed. they may not have been effective. it's not like he was stymied because he didn't have the filibuster. >> some of the big agenda items were passed. the two big ones were health care, which got through by the skin of its teeth and -- it's not just putting in place
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partisan u tau partisan utopias. lifting the debt ceiling or doing various things the government needs to do to function. it's a reason why i think washington is breaking down. >> go ahead, gillian. >> it's critical. i was at a meeting last week with a group of chief executives. they did a fascinating survey to rank the institutions that were most effective in dealing with the crisis. amazingly enough, they put the chinese government ahead of not just congress but the presidency. that really is a shriek of protest against the gridlock in washington. at the moment, the political machine isn't working effectively. >> it's not clear we want that but it's a point well taken. >> josh, how does this dynamic change. everybody complains washington is broken. congress has a 10% approval
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rating, we can't tackle big questions. how does this change? how do we move it? >> look, the tough thing with the filibuster is everybody who is in power hates it. it stops them from doing what they want to do. a lot of senators think ahead. it's possible republicans could control the senate in the fall. democrats, you think, maybe we don't want to give up this power. it's a chicken and egg problem. ultimately, it hurts the country. it's never anybody's direct interest to do away with it. what reid did was come out and apologize to a group of democrats who tried to fix this last time around. so, if he is so inclined, if reid is inclined, it's possible for the senate to change the rules. maybe not do away with the filibuster, but limit the abuse. more and more it's being used to stop everything. >> mark halperin? >> the perspective from the children's table is this, either
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party can control the senate or the house. which outcome, obama, house, senate, democrat, republican, which is most likely to produce a break in gridlock? >> ouch. as you know, the first two years of the obama presidency or for a period of time, democrats controlled everything and had 60 votes in the senate. you get a lot done. i think the best outcome is probably, you know, obama controlling the white house. republicans controlling the house. democrats controlling the senate. with this that harry reid goes in and changes the rules about the filibuster somehow and allow sort of the basic work of government to get done easily, judgeship's filled, the debt ceiling raised tharks sort of thing. there's no silver bullet.
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it's tough to do. >> gillian tett when you leave us this morning -- >> this is the most important thing you have done today, right here. >> addressing the u.n. general assembly after you address mika and me. >> it's a round table -- looking at, you know, where the global economy is going. i'm looking at commodity prices is what i'm talking about and the degree governments should be worried about speculation or not. >> to what degree should we be worried? >> what we are dealing with is financialization, not so much speculation. they have become very big, booming markets. in some places it works well. matching up demand and supply. in other parts, they don't. the critical thing people need to think about is that message from smith, markets work best when prices are transparent. people have access to markets in
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a democratic way and sometimes you have that, sometimes you don't. >> your take on oil prices, which of course have been so volatile and high over the past five years. so much of that people suggest. they lay at the feet of specklators. is it demand? is it specklators? >> i know the president came out and spoke about that and threatened to crack down on speculation. sometimes there are dirty things going on. for the most part, there's a reason why oil prices are going up. a country like china is coming on with very big demand for oil because of the cars, growth and things. in terms of oil, i think demand is the key component. >> josh green, thank you. dan seymour, thanks for coming in. stay with us, why don't you? >> thank you. i need some green. >> up next, the moderator of
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"meet the press," david gregory. eugene robinson and here in the studio, michael porter whose new project aims to help american companies compete on the global stage. you are watching "morning joe," brewedly starbucks. uncer) most life insurance companies
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♪ what would a romney presidency be like? day one, president romney immediately approves the keystone pipeline creating thousands of jobs obama blocked. president romney introduces tax cuts and reforms to reward job creators, not punish them. he issues order to replace obama care with common sense health care reform that's what a romney presidency would be like. >> i'm mitt romney and i approve
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this message. >> what do you do on day one? joinings us, moderator of "meet the press," david gregory, eugene robinson. stephen rattner is still here. donny is in the kids seat. keep him there. >> michael porter taught when i was there. he's iconic. i'm a little person. now, i'm at the table with him. >> you went to harvard business school? i would never have guessed. >> i know. >> keep it low. >> yeah. >> not that there's anything wrong. not that there's anything wrong. >> very good to have you. >> i get to grill him. >> you are going to grill him. i'm going to talk with the mott ray tor of "meet the press" and then you can take on the professor. david gregory, you stau romney ad. this is now one put out by the
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campaign, not the super pac or idea by a super pac covered by "the new york times" which we got into the weaves this morning. we can go there if you want, if you are interested. this ad, what do you do on day one, what do you think? >> it's effective. my reporting from the romney team indicate as couple things. one, i think you see it in the ad, the economy is going to be the thrust of his campaign. two, it is a recognition that a lot of americans like president obama at some level. these are the words of romney adviserers, want him to succeed and do not want to reject him including the first african-american president making history in 2008. made a lot of voters feel good. you put it together, there's a likability thing that romney has to get over. i think it says that, you know,
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good guy, tried hard, but came up short. we need an alternative and in the process touches the parts of government involvement in the economy that have galvanized voters. health care reform, the issue of taxes, the issue of debt. it's been a big romney theme this week. it's where he wants to return to in and out. >> donny, yesterday, you heard a lot of buzz words from the vice president that he doesn't get it. romney can't connect. he doesn't get it. these ads, on a marketing level need to prove he gets it. >> the ad is smart for one reason. people are afraid of change. if you look at every time we move from an incumbent, the only time is when things are
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dramatically bad. they are not dramatically bad right now. you have to make romney less of an unknown in a literal sense saying day one this is what happens. makes change easier. very smart ad. >> okay. andy serwer. >> i thought it was effective. to the extent people care about a keystone pipeline, i do. it could move the needle. it's not that big of a deal. i'm wondering -- go ahead, mika, sorry. >> the bottom line with the ad as we see the campaign take off is we are going to watch them each key in on a message to get traction. i want to jump around a little bit. we are going to get to the professor. david gregory, you had an interview with jay my dimon. the losses are deeper than we initially heard and reported. he's now going to testify before congress. what is your gut in terms of
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what will be addressed there in terms of regulation, which is something he's been fairly critical to the obama administration about. >> right. he can be defensive about that saying he's been mostly supportive of regulation but there were embedded regulations or the debate about the rule that would govern how banks make the trades. i think this is still going to be a jamie dimon who is outspoken, going to push back against regulation and make it about failings at the bank, his own failings, things he missed. they have their own internal process set up to catch this. banks are not too risky. that was a question i asked him. if it happens at jpmorgan, which understands risk management, what about other firms and banks. he says banking is not too
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risky. you need hedging to introduce safety and it can still be done well. i think it's going to be the thrust of the pushback. >> steve rattner. >> you spent a lot of time with jamie. there's a lot of questions up here about what did he know and when did he know it. they have not been able to tell us everything. they have their positions and have to protect them. in terms of the sequence of events what he knew when he did his first interview with you and friday when he did the second interview. what is your instinct about whether he's been completely transparent, honest, whatever word you want to use? >> i think it's hard for me to judge. you know, i know what he's told me which is that there was a lot more room for downside, more loss as they move forward. it's something he said publicly.
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you know, everything he said privately, he said publicly to me. we wanted to tell everybody at once. i asked him that direct question about how many warnings were there and if they were ignored. i can't shed more light on the answer saying there was one big warning they got and they were too defensive about what it meant. >> eugene robinson, i would love your take on this. i was listening to way too early. too big to fail versus too big to manage, which is a different issue. your take on what has unfolded. >> there's a fascinating story that is a tick tok of what he learned and when he learned it. the interesting thing, in the piece is how complicated this all is, these incredibly complex positions that were taken by
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this unit of the bank that does all the investment and hedges the investments in very, very complicated and difficult to understand ways. the story talks about a meeting at which jamie dimon having been informed of what is going on had to slam his hand down on the table and say bring me all the positions. i want to see all the detail on this. i wonder how you can expect, even a guy as smart as jamie dimon who is as detail oriented as he is to manage every one of those hundreds, literally, of hedging positions taken by a unit in london that are, themselves, any one of them would be complicated and take hours to describe. is it too big to manage? is a bank this size too big to hedge bets the way jpmorgan
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chase was doing? >> the questions we are raising play into the vibrancy of the economy overall. we are here to talk to the professor about our come pettiveness. dan, take on the professor. >> this is intimidating. normally, we refer to everybody as first names. he's professor. >> there's a debate related to the topic that transcends the left/right divide of whether the institutions are too big. others argue we need to shrink the size of the institutions. the flip is it will make them less competitive globally and undermine america if they can't compete. shrinking them is dangerous. you just finished a study on this. where do you come down on this? >> i hate to be off cycle, but
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this issue is on the list in terms of problems facing the business economy. we took on a major initiative to look at the u.s. economy, how we were doing, how we could explain the problems we are facing with job generation and so forth. frankly, we came to an unhappy conclusion the u.s. is facing a come pettive challenge. we haven't seen anything like this for 25 years in the japan situation. it's more significant this time, dan. really, the american job generation machine has slowed down dramatically. we have let our business environment get less and less efficient. we let the cost of doing business rise up. we are losing many, many more investment decisions and business activities to other countries than we are getting back. yet, the political debate,
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including the one we are having this morning is not about the important things. it's not about skills or the fundamental structure in our budget, tax system. we have gotten ourselves into a short term day-to-day dialogue. we are not addressing it. >> a couple things going back to jpmorgan. we learned time and time again, no man, no human being is smarter in the markets. not anybody. number two, with regard to the banks and the size of the bank, we got rid of a company that allowed investment banking to combine with commercial banking because we needed to be big. what did it bring us? not so much. is it true procter & gamble couldn't get it? i don't think it's the case at all. in terms of being big and risky, yes. the banks are big and pose risk
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to the u.s. financial system in way that is walmart don't. it's a different situation. >> we surveyed business leaders in our survey. it's viewed as a strength. yes, we can improve it and improve the regulatory structure. yes, there's a lot of issues. it's strength. >> really? what have we brought the world? >> we have superior capital in the united states. >> i think the professor is right on both fronts. the issues we face as a country are the ones he is talking about, not whether jpmorgan is too big or with the trade. let me finish. the bank in the uk handles 30%. we have 170 banks chartered. our banking system is not as consolidated. it's an issue.
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i'm fine with paying attention to it. come pettiveness, jobs. >> if we are seeing slippage in terms of competitiveness aren't profits the big loans? >> the companies are making profits but most companies are global. they have operations around the world. >> their money is elsewhere. >> part of the reason their money is elsewhere, because we have a crazy tax system. we don't tax multinationals. >> it's fundamental effects. >> which countries are you most worried about in showing up as the real competitors to america? >> it's funny. we looked at where american companies were considering putting businesses and which countries we were competing with. you would be surprised. there's lots and lots of countries growing up. not just china or india or brazil. it's all of the above.
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back in the days when we were threatened by japan, it was just japan. now we have mexico making improvements. they are working to drive down their regulatory costs and make business simple. in the meantime, we are loading cost on our private sector. we have to start addressing the fundamentals or the living standards of the average american are going to continue to be under pressure. >> to deteriorate. >> they are competitive because the wages are lower. they pay $5 an hour compared to $55 an hour here. mexico, $7 an hour. mexican productivity is getting high. i don't know how we address those challenges without our workers taking pay cuts. >> yes, it's a fundamental
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problem. our workers are not productive enough to justify the wage differentials. it's why we are seeing a big loss of activity and jobs overseas. can we be more productive? we are finding lots of opportunities to improve. more companies in america are going over seas to look for skill than coming to america to look for skill. we have to tackle issues like skill. our infrastructure is deteriorating in terms of the efficiency in which they do business. >> you know what? i realized we need to do an hour on this. we do. even in ten minutes we can't scratch the surface. >> it's the topic. >> we let interviews -- >> our technology and software is world class.
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>> technology and innovation, we layering on a bunch of unnecessary stuff. >> it's other countries catching up. >> i love it. we have to end it here. so sar i sorry about that. david, who do you have on sunday's "meet the press"? >> we have dick durbin and paul ryan. we are going to continue a big part of this discussion, the debt bomb that is coming because we haven't tackled budgets and tax reforms and what is going to happen before the election. we'll look at if the election were held today, where things would stand. >> gene, i owe you time. tell us about your column. >> donna summer and chuck brown, two music legends who passed this week. >> we'll look for that in the washington post. professor porter, thank you very much. dan, steve, andy, thank you all. still ahead, we are going to
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talk to captain sully sullenberger. what it takes to be a leader. jerry stiller and anne meara join us. back in a moment. this is $100,000. we asked total strangers to watch it for us. thank you so much, i appreciate it, i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money ? if your bank takes more money than a stranger, you need an ally. ally bank. no nonsense. just people sense. sorry. sore knee. blast of cold feels nice.
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good morning, st. louis. welcome back to "morning joe." a quick weather update. this is going to be a quick one. the forecast is beautiful. there's not much to talk about. amazing how quiet this may is, no tornadoes, no heat waves or flooding. show you the temperatures. it's nice and comfortable in the east. new england in the 50s. 60s in the southeast. this afternoon, gorge around the east coast. the middle of the country is warmer than normal. the humidity is low. the west coast, not many issues there, either. a slight chance of showers in montana. as we take you through the weekend forecast, looking good. storms in florida, which are typical this time of year. storms in oklahoma to minneapolis saturday and sunday. they are scattered. consider yourself unlucky. otherwise, enjoy the best spring weekend yet. coming up on "morning joe," two
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so did the country that came in 17th place. let's raise the bar and elevate our academic standards. let's do what's best for our students-by investing in our teachers. let's solve this. you know what i like about manhattan? there's no mosquitos. queens is full of mosquitos. >> dad -- >> gnats, too, if i'm not mistaken. >> dad, i heard you were in the city the other day. >> your mother has to tell you every move i make! >> jerry and elaine saw you.
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>> they didn't say hello? >> they were in a rush. >> they couldn't just say hello? the hell with them. >> seems you were with a guy. >> elaine, i can see not saying hello. she's, what's the word -- how could jerry not say hello. >> that was jerry stiller playing jerry sieinfeld. he is adorable, isn't he? >> yes, he is. even in private moments. >> gosh. >> i don't lie. >> you don't. is that too much information? no, it's not. >> tmi. >> tmi. great to have you on the set. i understand you watch the show. your arms got so skinny above
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the elbow. >> above the elbow? >> you know what i mean. >> i can't say that, you can. >> you don't have any of this. >> it's there. it's sort of there. >> she runs while she works. she books the show while she's jogging. >> he's handsomer in person. >> she's spreading the compliments. >> isn't he cute. then there's donny. he's just here by marriage. >> you like older women, right? >> you can tell. >> i'm going to leave town. >> talk to mika. >> how did you know that about him because he does? >> i saw it scrawled on a bathroom wall. >> for a good time. >> i want to say something sweet about jerry. i was at a knicks game. i'm super close with my dad.
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i was watching you guys. i could tell how close and tight you are. >> he invited me to sit next to him during that big moment there. at that moment, we connect in a bigger way. i usedway. but i used to take him to the games when the knicks are not doing very well. >> they're still not doing well. >> so we formed kind of a bond. we also kind of hung in together that way. he invited me to see that particular game. >> i love the knicks. ben became part of that kind of syndrome in a way when we were growing up together. >> i started to watch because did you see that game? i don't think it was a knick but the guy with his elbow? >> yes. that was terrible. that's not right. >> he went right in his ear. >> this is a great american love story the two of you. is that fair to say? >> grow up. >> i say that because i want to go back to the beginning. >> how long were you married,
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kid? >> a couple years. >> 58. >> my parents also 58. >> are you serious? >> i'm 82. he's 84. i say 58 and 38 of those years in therapy. >> well, there's that. >> i want to go back to the beginning of it. if i have this right, it's a love story forged on stolen silverware? is that a true story? >> yes. it is. but he exaggerates it, you know, to make off camera talk or something. >> let's have on camera talk. what's the real story? >> we met in an agent's office and he was dating a tall girl. he wanted to do a comedy act but she wasn't as funny as me. >> no. she was not as funny and she dumped me because i wanted to do more than comedy with her and she knew it so she introduced me to this young woman in the casting agent's office and there she was this anne meara this
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little girl who went into the agent's office. she popped out crying and i said what happened? she said he chased me around the room. i said to my pal why did you chase that little girl around the room? he said because i liked her and now it's your turn. >> oh, my. >> from there we went down to the cafeteria because she was still crying. >> there was a cafeteria across the street. it doesn't exist anymore. you know, that's the thing. all the landmarks are gone. >> i know. >> anyway, and we went -- >> i bought her a cup of coffee. that's all i could afford really. then i said, can i pick up the check? she said forget the check. pick up some silverware and put it in your pocket and let's get the hell out of here and that was the beginning. >> i lived in the village and my roommate joyce ar buckle and me, we needed another set of silverware. >> sure. >> did you do it? >> of course he did. >> and you fell in love. >> and he wanted to sleep with me. wouldn't you? >> that's fantastic. we're supposed to show a clip or something but i am transfixed by
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the two of you. >> well, stay that way. >> it might get a little crazier. >> there is no clip of him and me in the cafeteria. >> no. >> that's how it started. stiller and meara, kind of updated with a web show. let's watch a clip. >> okay. >> you know there is a show on that jerry you just saw "the jersey shore." >> i don't want to talk about it. >> why? >> because it upsets me. >> well they're like trolls that little one snooki. she is like a munchkin. she has like a big knob on the top of her head like a tumor. >> don't say -- >> i mean that's her hair style. and the guy on the show. the guy who has the, what do you call it the six packs. >> what, overweight? >> no he's not overweight. the situation. >> there is no situation. all they do is cut from one fight to another. >> the situation. doesn't he have a shirt? somebody pitch in and buy him a shirt. >> there is no situation he
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says. >> you guys are fantastic. i could watch that for hours. >> that's on yahoo we can watch that? >> that's on -- >> somewhere. >> yes. yahoo or woo hoo. >> that is very funny. let's talk about why you're being honored getting the medal of honor from the actors' fund. >> he deserves the honor. >> talk about that a little bit. >> it's a great organization. >> the actors' fund was started -- >> with actors. >> you see this relationship? he doesn't get to talk basically. >> the actors' home in englewood, new jersey. we were there. >> there's one up on 57th street. there's one in brooklyn. >> right. >> what we do as actors in the actors fund and anne and i are being honored this coming week with harry belafonte and david steiner. each year they give us some kind of way to raise money to keep the actors alive when actors are no longer working. they needed someplace to go. >> right. >> we have the actors fund of america. it's been around since 1885.
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buffalo bill was part of this thing. >> what? i didn't know that. >> buffalo bill. now you know. so anyway, that's the story. and we still exist in some way and this monday we're having this gala at the -- >> at the marriott hotel. >> and harry bellefonte and david steiner are being honored. >> wow. >> we keep -- we have a home in englewood, new jersey. we have one -- >> i love that home. >> we went over there. we visited the home. it's like what do you call it? >> listen, this web show, is that still going? >> no. >> i want that back. i want to be on it. >> you're taking care of health care and everything else. >> anything. he fought to get the cobra bill passed. >> yes. >> i guess part of my existence being that character on "seinfeld" i was able to use frank kostanza to get attention
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for the actors' fund up in albany with governor pataki, sheldon silva, all these legislators, we needed money to create this environment that we call actors fund. so actors when they are finished with their work, where do they go? if they haven't got the resources? they needed a place. actors fund is it. >> what are you doing? not even italian. >> jerry stiller and anne meara. the recipients of the actors fund medal of honor. >> monday at the marriott. great gala. harry bellefonte. david steiner. >> thank you very much. >> show up. ♪
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governor romney, kind of amazing. he said, quote, i'll take a lot of credit for the fact that the industry has come back. whoa. i'll -- by the way -- i'll take a lot of credit for a man having landed on the moon. because although i was in school, i rooted for it. that's what he said. look, folks, the president and i are completely confident, completely confident letting you judge who brought the automobile industry back. >> good friday morning. thank god it's friday. is it really friday? please tell me i'm not wrong about this. it's 8:00 on the east coast. welcome back to "morning joe." 5:00 on the west coast by the way as you take a live look at new york city. back with us onset we have mark
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halprin and donnie deutsch. weird. and steve rattner. before we get into the news which we have a lot to do and you've got facebook charts for us, joe biden making another great point on the campaign trail. and i'm serious. >> you should be serious. joe biden made exactly the right point that mitt romney and bain capital were not about creating jobs. if you read every word i would be willing to bet of every memorandum bain capital put out you would never find a word about creating jobs. it was about making money for investors. nothing wrong with that. i did that for a living. but he can't, should not be cloaking himself in this idea that he then created a hundred thousand jobs which by the way were created if you even get to that number you have to go back to a couple of very early capital venture investments he made before he changed the business model of bain to doing more classic leverage bios of the kind the obama people highlighted in that ad. >> response to that, though, steve, from the romney campaign is one that the president has made on the larger economy is that we saved jobs. without us those companies would
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have ceased to exist and, yes, there were jobs but there would have been none if not for us. >> bain capital and all private equity funds in my view play a useful role as a cog in a capitalistic machinery providing more efficiency, more management, tougher management, better practices. but we don't know if those companies would have gone out of business or not. they might well have dribbled along, continued to operate somewhat less efficiently and had more jobs than under bain because all good private equity guys try to cut costs where they can. so i don't think you can make a convincing case on that either. >> okay. yesterday was on the front page of the "new york times." a proposal to attack president obama linking him to controversial comments made by his former pastor. now, that back fired before it ever got off the ground. the "new york times" reported that a republican leaning super pac was considering launching a $10 million ad campaign to target the president's ties to the reverend jeremiah wright.
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remember him? whose racially tinged comments became an issue in the campaign four years ago. it was a 54-page proposal "the times" was covering called "the defeat of barack hussein obama." it was going after the president's relationship with reverend wright. the proposal read in part, quote, the world is about to see jeremiah wright and understand his influence on barack obama for the first time in a big attention-arresting way. now, "the times" report says the plan was just one of several commissioned being considered, meaning he asked for ideas to consider by billionaire joe rickets who founded t.d. ameritrade and it continues to report saying the proposal was presented last week in chicago to associates and family members of mr. ricketts.
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the 54-page proposal was professionally bound and illustrated with colored photographs indicating, "the times" editorial here, indicating it is far beyond a mere discussion. the strategists have already contacted larry elder, a black conservative radio host in los angeles about serving as a spokesman and the plan calls for a group of black business leaders to endorse the effort. the strategists have also registered a domain name character matters. by yesterday afternoon ricketts said he rejected the idea saying it was only a suggestion for one possible direction to take. the president of the super pac says mr. ricketts was not the funder of the plan and he has, quote, focused entirely on questions of fiscal policy not attacks that seek to divide us socially or culturally. mitt romney also distanced himself from the story speaking to reporters at a news conference in florida. >> i read the article on the aircraft. as i read the article i want to make it very clear i repudiate
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that effort. i think it's the wrong course for a pac or a campaign. i hope that our campaigns can respectively be about the future and about issues and about a vision for america. i've been disappointed in the president's campaign to date which has focused on character assassination. >> okay. so we're going to take a closer look at all of this. impact of the story in itself. mark halperin, i'm curious because you know the reporters and you know "the times." do you think this is a fair story? >> well, there are a lot of elements to this. >> i know. >> i think the biggest thing about this is there is extraordinary anger and frustration on the right from a lot of people who feel the president wasn't scrutinized enough in 2008. and so there's a lot -- there is a lot of money out there and a lot of rich people, conservatives trying to figure out how can i have an impact in this race beyond doing what everybody else is already doing? >> right. >> in this case it was a marriage between someone with a lot of money and a group of
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consultants who wanted to make some money and had an idea about how to do it. how to both make money and they thought try to affect the outcome of the race. i think the biggest effect of this is it's going to be much harder for anybody now to come forward with ideas to try to bring down the president based on character. and it takes a day away from mitt romney to talk about the economy. he's got a new tv ad out today that deals with the economy. >> yeah. >> that's where they want the race. and so you saw the president's supporters jump all over this. i think i have great respect for the "new york times", great respect for the reporters who wrote this story. i don't think it should have gotten the play that it did given the facts, given this was something that was going to be done and now won't be done for sure. >> ideas are ideas. i want to hear why you disagree. it was a proposal that was being sent to joe ricketts, not something he had blessed. >> though "the times" today in the followup story says when they asked on wednesday the day before the story ran, is this something that's dead or alive in effect they were given the
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impression this is still something that's alive. and that's, for them, i think, a big part of their justification, that this was not just something the consultants floated out there but something still being considered according to "the times" reporting. >> it is definitely a story. i would have been one of those guys. that proposal is called a deck in my business where you go in and you present your new business idea which the article was. fred davis was someone invited to present that deck. now, once again, that doesn't mean ricketts is attached to it but that is a very interesting behind-the-scenes story at how strategies and ad campaigns -- >> wouldn't you want to present an interesting behind the scenes story about a democratic campaign as well? many of the ideas are bad. >> is the "new york times" left leaning? that's fair to say. >> okay. >> having said that, there was nothing in the story that was not true. i found it fascinating both as somebody in the media and as a voter. i think it also shows that in reality that is a path to your
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point that a lot of strategists and people would like to take so that was a real story. >> a real story but with a real state of the "new york times" above the fold, front page. >> by the way, as a reader not as a democrat i picked up that paper yesterday. i couldn't not go to it. they have to sell newspapers also kids. let's not kid ourselves. it is not the same as "time" magazine with the 4-year-old breast feeding his mother. >> 3. >> i think a day away from being 4 in my opinion. steve rathner? >> we all agree it was definitely a story. >> you're saying it didn't belong there. >> he is saying it's a story. >> i'm sorry. >> disagreeing about the placement of the story. let's talk about the placement of the story. i think you could have gone either way. the fact that it was exclusive always gives a story more import in terms of the eyes of the editors and having worked there for nine years, you're a journalist and you know how that works and where they place it. >> no question. >> i think it was a legitimate proposal being considered, that fact, it could well have belonged on the front page above fold, below the fold.
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we can argue about that. i don't think it was widely overplayed. i think it was in the zone of reasonableness. >> this also raised questions, mark, about the world of super pacs and how they're related to the date himself. this immediately was hung around the neck of mitt romney. >> exactly. >> david axelrod and bill burton were tweeting before most of us were even awake yesterday 4:00 in the morning sending out tweets about how will mitt romney respond to this? does mitt romney owe it to the media, does he owe it to voters to explain a story of a group to which he is not attached? >> again, i want to be careful about all of this because there is a lot of complexity here. the media tends to take associations of republican candidates and make -- tie them around the neck of the republican and say mitt romney has to account for every republican out there. every conservative, every idea. i think there is less of that done on the left. and i think in general it shouldn't be done. mccarthyism to say mitt romney is responsible for everybody out there who he has a direct or indirect contact to. that is what the obama people did. they're raising money off it. they're wasting a day of
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campaign dialogue on it because it is effective for them. >> is this a story though about the super pac and joe ricketts or about strategists fred davis and different tactics they would take? >> the implications, again, i think it makes it harder for super pacs on the right to do certain things. that is probably a good thing. but it also gives you an idea. there will be a lot of rich people ready to write multimillion dollar checks that are going to want to say to their consultants i want something different. i don't want to be the 15th guy running ads saying the obama economy is a failure. >> right. >> there is going to be a lot of stuff. >> a demonstration of the only fight we have against the supreme court decision and this is an over zealous media to put the truth out there to kind of start to get behind the scenes because that as i've said many times in the show is the most frightening decision of my lifetime as far as a shot at democracy. >> all right. why don't we move on to facebook? >> these two guys have very interesting takes on it. 11:00 this morning, less atlanta five hours from now, facebook will begin trading 38 bucks a
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share. the social media giant selling a 15% stake in the 8-year-old company, still hard to believe it's only 8 years old, now valued at $104 billion. $16 billion raised yesterday. facebook becomes the largest internet ipo in history. one the biggest ever. its market value now tops business icons like mcdonald's, citigroup, amazon, disney, demand for a piece of this action was huge according to the "new york times" investors and the u.s. alone would have bought 30 times the number of shares that were offered. so, steve ratner let's talk about this. $104 billion and what were their revenues last year? a couple billion dollars? >> their revenues were in the -- >> 4 billion, something -- >> 5 billion range. >> so $104 billion could it possibly be worth that amount of money? >> it could possibly be worth that amount of money, but only time will tell. i think at the moment it is probably being priced a little bit above value. we have some charts. i don't know whether you want to do them. >> let's do the charts. let's get into them.
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>> how exciting. >> listen to the pros and cons on the show the last few days and let me give you a couple. first, on the pro side, nobody can deny, i would not deny anyway that facebook is a big, real company. it's become one of the kind of four pillers of the internet. if you look over on the right and you see the companies that dominate the internet, it's google, microsoft, you see facebook coming up from really nowhere and passing yahoo and challenging mitt romney and yahoo as we know having some problems and kind of plateauing out. so to those who say it is just another myspace and is going to disappear, the next fad, i know certain people are not on the show today and have said that on other occasions. i actually don't agree with that. but when you turn to valuation on the next slide, you get to your question, willie, so here is the thing. facebook has as i said about $5 billion of revenue. and it's being taken public at 20 times those revenues for this $104 market value. if you compare this to google when it went public in 2004, google had $3.2 billion of
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revenue so it had less revenue. google went public at a somewhat earlier stage of development. facebook held out longer before it went public. but it only went public at a seven times multiple of its revenue for a $23 billion market value. so facebook is being priced the way we look at it on wall street you compare the $7.2 to the 20 times facebook is priced at three times the multiple. google today has a market value of $200 billion. so google's market value today is twice facebook's but google has ten times the revenue, ten times the profit of facebook. so it's a valuation that we have really never seen for something like this. now, in terms of where does the stock price go, is this a good buy, what's going to happen, i think everyone agrees it will be a big first day pop because of the huge demand that you mentioned in your remarks, the stock will certainly trade up. it's not going to i think double, oo%, but it should go up substantially. after that, it's really anybody's guess. these are the four ipos that
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have been done recently in the past year of companies sort of in this zip code so to speak. so you see that one of them linked in, the blue line at the top, has actually traded quite well and had a huge first day pop. it has vacillated since then but it's still well above that level. but the other three, groupon, zynga, and pandora, three companies that again a lot of consumers know groupon the coupon company, zynga the social gaming company, and pandora the internet music company are all down 30%, 40% from their ipos. so this is what makes wall street interesting. >> let me jump in off the charts. and a little bit more from a blaf behavioral point of view i was offered the stock at 38 with a six-month lockup and of course i said we'll see you next time on that. there are two major issues this company has against it and one for it. number one, it's all obviously a lot of based on future advertising revenue. we saw what happened on general motors. if you think of the way people consume the stock, i mean
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consume the website, it's friends. it's -- we don't want ads in there. it's not like google where you're searching. okay. i'm searching for restaurants so when a food ad comes up it's more natural. by nature the reason we consume the product is not what i'll call advertiser conducive. secondly, the very nature of facebook, if you watch the movie, the dramatization, it's the club. it's the billion dollar exclusivity now. what's going to stop a bunch of 13-year-olds from finding the next new social media? this is something that can be caught up. so, you know, you can catch up to not the same way you can catch up to google. the one thing it has going for it i always say any business at the end of the day is about people and what zuckerberg has done is assembled an incredible, incredible team. right now you say, okay. you're betting on this group of people who just raised $16 billion. what can they do, where can they go? the basic fundamental structure of facebook i have big issues with. >> interesting that gm story that came out earlier this week where they pulled $10 million out. >> exactly.
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>> they said they weren't getting their money's worth in advertising. ford came out the next day and said it's how you do the ads. they are working for us. so two sides to it. a lot of big companies saying it is not worth the investment in terms of advertising. >> having said that, look at this young man on the front page of the "financial times" what, 28? >> 28 on monday. >> 28. hum. just a baby boy. and i believe he is worth $19 billion now. coming up next, a man who landed the plane on the hudson. >> yes. >> what has he done since then, seriously? just the plane thing? that's what we're going to talk about? >> you just feel better when sully is in the same building. >> okay. it's been a couple years right? >> he has a new book out. >> okay. captain sully sullenberger here to talk about his new book. also the author behind the iconic manhattan novel "bright lights big city" turns his focus to wine. renowned author jaime mcinerney joins ounce set in a few moments. first bill karins with a check on the weekend forecast.
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bill? good morning, mika. this isn't just your ordinary weekend forecast. this is about as good as it gets and about as quiet as it gets around the country. all of your weekend plans. this is the weekend to be outdoors. yesterday very warm across the country. the 80s in the middle of the nation are spreading east. today in areas like chicago, you should be getting up into the mid 80s today. maybe a few thunderstorms in the northern rockies heading up to the northern plains. most of the country looking at a great weekend. ideal spring weather northeast today just like yesterday picture perfect for anything outside. low humidity. a little warm in dallas. the west coast quiet. a little cool. only in the 70s in l.a. we'll be 71 on saturday. seattle looks like you're dry on saturday. i do have a little rain in the forecast for seattle on sunday. by the way, that would be the first time it rained in seattle in nearly two weeks. that doesn't happen all that often. taking a look at seattle, beautiful start to your morning. what a great stretch of spring weather you've had. enjoy it while it lasts. you're watching "morning joe" brewed by starbucks. with the spark miles card from capital one,
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welcome back to "morning joe" 25 past the hour. joining us now captain chesley "sully" sullenberger author of the new book "making a difference" stories of vision and courage from america's leaders. very good to have you. i was just kind of kidding in the tease. >> when you said what has he done since the plane? >> in this business you're only as good as your last story. >> when you land a plane with no power and save the lives of everybody aboard that is the only story you need.
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>> i think you're good. and he pointed out in the break, like if i'm not doing well three years later then something is wrong with me. >> my own fault. >> exactly. tell us about the new book. i love the concept. >> you know, i've had the opportunity the last three years to meet people at a level i would never have had a chance to in a hundred normal life times. people like tony la russa i had dinner with last night. admiral thad allen brought in to fix the katrina response. >> right. >> people who made a difference in a lot of people's lives who spent hours with me and i would pick their brains on what worked and what they've learned in their lives about leadership and i found funny stories, compelling stories, inspiring stories. i had to share them with you. >> is there a thread or link between a lot of these people you've met and what they ask you or say to you? >> yes. and, you know, i knew there would be common themes that would bring into focus with some specific takeaways but also wanted to be very surprised by certain unique things about them and i did both. of course, i got to do the interviews and ask the questions this time and it was great fun
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to make these discoveries. they each had very personal stories. thad allen is the first one i profiled. and as you know he was brought in in the darkest hour of the initial katrina response. and he was facing relief workers who had been beat up in the press and really demoralized. he gathered erd as many together as he could in one place, about 2500 people, and he stood up on a desk, grabbed a microphone and in a few words just a very simple message said, i want you to listen to me. i'm going to give you an order. i want you to treat everyone you come in contact with as if they were a member of your immediate family as if they were your mother or father or brother or sister. and if you do that then two things are going to happen. first, if you make a mistake you'll probably err on the side of doing too much not too little and, second, if anyone has a problem with what you've done then their problem is with me and not with you. he said, you could hear a huge sigh from the room. people began to cry because nobody had told them what was
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important or why or what they were doing mattered and he was able to give them hope. and he did the same thing again by leading by personal example with the earthquake in haiti and the bp oil spill. >> he came thon show and every other show every single day throughout that crisis. >> he did. he put himself out there. >> and answered very, very difficult questions. >> one of the things that impressed people most about you talking about leadership during the whole story with the plane and the hudson river was your calm under pressure. and not pressure at work but life and death pressure. we heard the cockpit recordings and you calmly said something like i'm going to have to land in the river. i'm going to put it down in the water. where does that come from? i mean, that could have been the last minute of your life and maybe should have been the last minute of your life. how did you remain so calm? >> that is one of the common themes we talk about that everybody can learn to use. it is not so much calm as having the discipline to focus and do your job in spite of the stress. the stress is going to be there. your body responds whether you want it to or not. thad allen describes it
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throughout his career as having mastered his craft first and then mastered himself. tommy la russa talks about making his players pressure proof and making pressure your friend, through exposure, preparation. getting the process right. the fundamentals. and so what i did that day was having the discipline to compartmentalize and focused my thoughts on the task at hand and avoiding distracting thoughts. i never thought about anything else except flying the airplane and solving the problem because we had 208 seconds to do it. >> along those lines just as a lesson, first of all, it is a privilege to sit here with you. >> thank you. >> with all the jack ls that usually sit around this table. i mean that from the bottom of my heart. was there positive thinking as you were in this very disciplined, getting my job done, in your mind were you like, well no. i'm getting this done or were you kind of on auto pilot no pun intended but in your mind did you think you were going to succeed? >> yes. i was confident. even though this is something we'd never trained for. in fact in our flight simulators you can't prak taste water landing. it is not possible. the only practice or training we'd ever gotten for water
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landing was a theoretical classroom discussion. so jeff skiles my first officer and i had one chance to get right something we had never done before. so we weren't on auto pilot but i had a lifetime of training and experience to take what i did know to innovate, apply it in a new way to solve a problem we'd never seen before. >> so you, i want to highlight that. because i actually think women are not as good at this as men. you thought you were sure you were confident that you would land and it would work out fine. >> yes. i never thought i would die that day. >> yeah. okay. that is the difference right there. and i think sometimes at least from my anecdotal evidence, women really struggle with that. like we are afraid to be -- always kind of like -- >> i disagree. i think these are things that everyone can learn and if you -- >> absolutely. >> if you read the profiles, you
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know, certainly gene krenz talking about apollo 13 the great nasa flight director, i asked him at the end of the chapter did you ever doubt that you would bring the crew of 13 home? he said no, never, not for a second. neither did my team. >> right. >> but if you read tammy duckworth the army helicopter pilot shot down in iraq who lost both her legs and the use of an arm and is now running for congress, incredibly courageous woman, she never doubted that she could survive. >> i think that's the difference. being able to do that. and i've noticed things in my life where i've always failed when i assumed that oh, it might not work out and i've always succeeded in ways that i -- beyond any expectation when i've just said you know what? this is going to work out. >> it has to be what i call realistic optimism. >> yeah. >> it has to be based on actual skills and capabilities. >> one of the things that is so incredible is you turned out to be a great public speaker, great tv performer, and great reporter. >> a great voice toonchts what are the secrets to getting people to tell their stories? >> well, what's amazing is i had to learn all this very quickly.
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i had never done any public speaking or interviewed before. this story was an incredible access to these people and get them to open up to me but you have to make a personal connection. you have to create an environment in which there is something for everyone. >> you make pressure your friend. >> just like tony said. >> one last question. have you paid for a single drink in the last three and a half years? >> i do all the time. >> really? >> early on in new york i couldn't. but, you know, you have to get past that at some point. it can't last forever. >> oh, yes it can. come on now. the book is "making a difference" captain sully sullenberger thank you so much. great to have you back on the show. >> great to be with you. >> up next best selling author jay mcinerney joins us. keep it right here on "morning joe." >> sully sullenberger. where is he? i met him outside the -- sully,
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this your song? this request? >> no. >> home? >> no. >> thanks for the good information on that. much appreciate it. you're the best. joining us now the renowned novelist the great jay mcinerney out with the new book "the juice." how do i say this? >> it's looking good. >> good to see you. >> a cool picture. >> totally and correctly. jay, you make the turn to wine. tell us about why you did it. >> when i was writing my first novel i was studying raymond carver at syracuse university and i had a fellowship which didn't quite cover my expenses and i worked part-time at a wine store to make ends meet. it wasn't much of a wine store but the kind of place that specialized in mogen david 2020
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and wild irish rose for guys that had bad personal hygiene but there was a shelf of good wines and there was also a shelf of wine books. when i had a little spare time in between stickups and term papers i would read the wine books and every night take home a cheap bottle of yugoslavi iai cabernet and gradually kind of developed an interest. >> a taste. >> and it's a good way to start, at the bottom. >> yes. >> start with the sort of buck 50 bottles and gradually work your way up. you know, i know people who, you know, friends in the financial industry who start right in with this sort of hundred dollar cabernets but it is like helicoptering to 27,000 feet in everest. >> right. cheating. >> you miss the climb. >> yeah. mad dog 20-20 passion fruit. a great place to start. i've been there. >> at the bottom. he has 4,000 bottles of wine at
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his long island home. did you know that? >> really? >> that is not right. >> i think i stopped counting. >> 3,997. >> are you sure? >> i have a friend who is a serious collector. he buys at auctions. $3,000 bottle of wine. explain to somebody, i assume most of us around the table, what is it, forget if you're doing it as an investment, when there is a $3,000 bottle and you taste it, why is that so superior to just a bottle of cab -- >> what if it's not? >> i still don't get that. >> honestly the difference is incremental. you know? the difference in pleasure even for those in the know between a $50 bottle of wine and a $5,000 bottle of wine is relatively tiny compared to the difference between a $5 bottle and $50 bottle. but for some people that's worth it. you know? there are people for whom a warhol is worth $60 million and for others it's a poster on the
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wall essentially. there is also the question of supply and demand. some of these things are just made in very small quantities. there's only a few thousand bottles. >> but the actual quantifiable or palatable difference. >> have you had trouble seeing the difference? >> yes. don't invite me to your parties. >> you have no class, donnie. >> we know that but i can see the difference between a warhol. my point is i just don't get it. >> there are people, you know, for whom the differences are detectible and significant. i think for the average drinker fortunately you don't have to worry about that. you know, people who collect burgundy, reminds me of richard pryor's joke that cocaine is god's way of telling you you have too much money. the same is true of petruese or krug champagne. it is a very expensive hobby. fortunately there is a lot of really great -- there's more great inexpensive wine in the
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world now than there ever was in history. most in the past, 20, 25 years ago, were flawed. they were spoiled. >> right. >> they were oxidized. >> right. >> technology hasn't improved our lives in all ways but it certainly in the case of wine making has. >> in this very important way it has. >> what is in this book besides the scratch and sniff pages that i like a lot? what else is in here? >> well, i hope there is a lot of information. you know, when i first started out trying to learn about wine it was tough because most of the writing was either very technological, talked about melolactive fermentation and i still don't know what that was or very horticulturist talking about the scent of may blossoms and honeysuckle and i don't know anything about gardening. i thought it might be interesting to develop a more accessible type of wine language
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comparing wines to models, actresses, pop singers, paintings. >> now you're speaking my language. >> now donnie is seeing the -- >> nobody broke it down for me before. thank you. >> when i say, it is amazing when i say a california chardonnay, it's like pamela anderson, people kind of know. >> got it. >> as opposed to the wine that's more like kate hudson. >> that actually is brilliant. >> i get it. >> full body. >> thank you. >> anyway, that is what i wanted to do because i didn't find it out there when i started trying to learn about wine. and as someone who didn't really know wine speak i tried to make a new type of wine speak. >> the book looks good. >> and tried to dumb it down for donnie. >> i'm sticking with the strawberry dill. i think that's the best. two bucks a bottle. >> boones farm. >> that was my first love. >> boones farm and mad dog 20-20
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are the ones. thanks so much. the book is "the juice." great to see you. >> thank you. coming up facebook goes public a couple hours from now. zuckerberg about to be worth $19 billion. brian sullivan, next. ♪ [ male announcer ] they were born to climb... born to leap, born to stalk, and born to pounce. to understand why, we journeyed to africa, where their wild ancestor was born. there we discovered that cats,
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[ man ] the receivables. [ male announcer ] michelin knows it's better for xerox to help manage their finance processing. so they can focus on keeping the world moving. with xerox, you're ready for real business. 46 past the hour. business before the bell now with cnbc's brian sullivan live at the new york stock exchange. brian, facebook, discuss. >> yeah. mika, facebook is going to be a big one. we've been waiting for this for a while. this is a big deal. facebook price last night at 38 bucks a share. by all accounts it's 30 to 1 over subscribing, 30 people want to buy a share for every one share available. you know, shares that are going to be bought, so the price is likely to skyrocket. you know, the retail investor getting interested in facebook certainly today. we'll see how it goes.
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should be a huge day. we know mark zuckerberg a guy you mentioned going into the break is going to be the wealthiest 28-year-old on the planet, one of the wealthiest people on the planet. he will be able to buy whatever wine he'd like though perhaps he does prefer willie's passion fruit mad dog which is my drink of choice. >> or what chris gave me for my birthday. it's called mommy's time-out wine. >> it's donnie. >> ak blue nun. >> every once in a while the stocks get to the point where the cab driver is saying i want to buy it. there was a guy in front of madison square garden last night going i got facebook. who needs two? have you ever seen that with a stock before? >> the interest, that is a great point, on facebook, i can't remember the over subscription rate being this high. there may have been a name back in 1998, '99, 2000, i can't remember a name that had a 30 to one if not more over subscription rate and you're exactly right. the hotness is not just because of facebook and we've been waiting so long. it's because everybody knows it. 900 million people are on
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facebook so you go back to the peter lynch investing, buy what you know, who doesn't know facebook? i think, though, if you get into the entry price it's going to be hot. not so sure you want to buy at a market order later on today. that's my own opinion. whatever. >> thank you. have a great weekend. >> thank you. >> you too. willie's week in review next. ♪ [ male announcer ] american innovation. 29 years ago, it helped us invent the minivan. ♪ today dodge grand caravan is the most awarded minivan ever. ♪ who knows where innovation can take us next? ♪ directions to the moon. ♪
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time for the "week in review." >> van, can, pan, fan, wand. >> at number three magic wand? >> wow. a weird game. you just never know. i'm sorry. >> during "wheel of fortune" college week a young man named zack dealt a devastating blow to the academic reputation of oregon's reid college when he suffered an epic meltdown on a gimme of a final puzzle. >> wand, wand! >> ah. wow. >> that and looked so andy. >> as preschoolers easily filled in the blanks from their high chairs zack locked up his place in game show and high school history. >> magic. >> sand, canned, panned, jand, fanned, wand -- wand!
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oh! >> over on "jeopardy" where the puzzles are slightly more difficult our good friend chris matthews defiantly refused to take no for an answer from that know it all tre beck. >> full name of the u-2 pilot shot down over the soviet union in 1960. chris? >> gary powers. >> we need the full name. >> who is gary powers. >> no. >> at number two, gratuitous chinese surveillance video. just a couple weeks after a young woman vanished into a hole in a chinese sidewalk a dude in eastern china got lit up when he strolled in front of a tractor-trailer. the elderly man was dragged for several feet under the truck but somehow walked away with minor injuries. no word if the old guy recovered in time to rejoin the cast of this chinese dance show.
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and the number one story of the week. >> my mother and father dreamed as much as any rich guy dreams. >> a week after inadvertently pushing president obama to support gay marriage -- >> i'm just so sick of the way presidents are always riding me. i mean, i'm an adult. >> hey, hey, i've been there. i've been there. i used to catch grief all the time from president cheney. >> mm-hmm. >> joe biden was out on the road pushing the president's campaign message of mitt romney as d dastard dastardly, villainous one percenter. >> they don't get us. they don't get who we are. >> all that hollering naturally put the vice president in the mood for a little dq. >> i assume they were talking about financial assets. >> president obama himself meanwhile was in new york facing the view's semicircular firing
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squad. >> which kardashian was married for only 72 days? >> um -- that would be kim. >> very good. >> the president faring much better on that quiz than poor zack did on his. >> canned, sand, panned, fanned, fanned, wand! >> oh, come on, zack. you had that one. chris matthews wanted that gary powers answer. we should point out chuck todd cleaned up last night on "jeopardy" and won and kelly o'donnell goes tonight. msnbc dominating. coming up next what if anything did we learn today? not in this economy. we also have zero free time, and my dad moving in. so we went to fidelity. we looked at our family's goals and some ways to help us get there. they helped me fix my economy, the one in my house. now they're managing my investments for me.
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and with fidelity, getting back on track was easier than i thought. call or come in today to take control of your personal economy. get one-on-one help from america's retirement leader. the world needs more energy. where's it going to come from? ♪ that's why right here, in australia, chevron is building one of the biggest natural gas projects in the world. enough power for a city the size of singapore for 50 years.
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it's a smart way to go. fresher less processed foods introducing freshpet recipes so fresh the only preservative we use is the fridge freshpet fresh food for fido it was in my sister's neighborhood. i told you it was perfect for you guys. literally across the street from her sister. [ banker ] but someone else bought it before they could get their offer together. we really missed a great opportunity -- dodged a bullet there. [ banker ] so we talked to them about the wells fargo priority buyer preapproval.
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it lets people know that you are a serious buyer because you've been credit-approved. we got everything in order so that we can move on the next place we found. which was clear on the other side of town. [ male announcer ] wells fargo. with you when you're ready to move. willie how do i make what we were just talking about what i learned today? >> i think the lesson is shiny tanned legs rate as a rule. >> you know what i learned today? chuck todd is coming up. i was watching quiz show where they gave the guy the answers and chuck cleaned up on jeopardy. just saying. just saying. because i talked to chuck and he's not that smart. >> chuck was dominant. >> willie? >> i learned that jerry stiller is a national treasure. ought to be on every friday. >> just say

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