janet yellen is really an economist, a monetary policy expert. and our data show that wall street overwhelmingly likes janet yellen over larry summers. >> well, i mean, rick, what's your take on larry summers as the head of the fed? >> well, i think from a resume standpoint, there's no doubt that he's qualified, and janet yellen is qualified. it doesn't surprise me that the street wants janet yellen, because they like the continuity of the programs. just look at corporate profits and the stock market. but in terms of larry summers, there's no doubt that he's the guy they want. you could call it floating balloons, but i think it's much more. everybody was hunkered down for janet yellen. this is a bit of a kabuki dance. i think they're trying to vet the negatives, and in the negatives, he has so many bags and so much baggage, southwest would take all of the net worth of s.a.c. to get him through security. >> you know, guys, one of the negatives that the white house is looking at, and former white house insider telling me that, you know, the big que

i think janet yellen is a dove, too. if she comes in before ben bernanke makes an announcement, i think the market will handle it fine. if bernanke says we're going to taper down the bond issue, you'll see an effect. if it comes in that order, this could be a september to dismember in the market. but it depends on the order and it depends on what those ten-year treasury rates do. >> i'm going to leave it there, gentlemen. i think both of those guys are very cautious right now. now, we have big news headlines for you. we're going to include the despicable act of vandalism at the lincoln memorial. bertha coombs has an update on the entire investigation next up on kudlow. when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, where experts watch over al

that's an advantage that certainly goes to janet yellen. other than that the important things are being both a consensus builder and leader that might seem incompatible but you have to build a consensus around your views and you're going to be essentially the decider. so you better also be a strong leader. >> larry, also great to speak with you. thanks for your time. >> pleasure. >> larry meyer of macro economic advisers. interesting larry summers would mean more volatility and janet yellen would be more continuity. >> he's not telling us something we wouldn't have assumed. we know what yellen is going to bring to the table. we're talking about a market where the volatility -- >> that's why summers doesn't stand a chance. >> larry meyer said the race is getting tighter. >> if you look over the futures over the next few months, the vix futures are pricing 19. it's not like we're seeing the options market pricing some big event. >> johnson and johnson with a new all time high but could the momentum be slowing soon. >> j and j the chart is jus

janet yellen gets it right on inflation. yellen and the other pro stimulus doves were right about inflation not being a problem. she had the best forecasting record, that according to the "wall street journal" survey. so does this mean yellen is the best candidate for fed chair? and will president obama's fiscal stubbornness lead to a government shutdown this fall? he wants to end the budget you cutting sequester and raise taxes and get a no spending cut free ride for raising the debt ceiling. you know what? ain't going to happen that way. and how much did they steal? $53 million, $100 million? what about $136 million in diamonds stolen from a ritzy hotel in the french riviera. it's a massive heist that comes along with a massive amount of questions. does this look efficient to you? was this the pink panther striking again or was it an insurance scam by the diamond dealer? all those stories and more coming up in the kudlow report starting right now. >>> first up tonight, score one for the dogs. you've heard warns about infla

way janet yellen is seen as a monetary policy expert. i don't think she presents anything on larry summers. i think they're both in that same vain. >> when will we know? >> i thought the comment was interesting, did obama cut the rug out? i think he let it slip that bernanke made his intentions clear he didn't want to stay t. so the question is. >> you don't have to be inside baseball the world didn't look very great. >> obama made a mistake, that's clear. whether it was an intentional mistake and meant a in a mean spirited way. >> i don't think he meant a anything seriously. i think it's how the outside world perceived it. >> the president can appease the progressives on the left and he can also maim a woman. i can't see him not doing that. >> why are they bothering? >> i don't know. i think he'd like to -- >> i'm not sure appointing janet yellen is the appeasement to the left that the left thinks it is from not apinting larry summers is. >> that is true t. other side is not true. i think janet yell isn't a strong monetary expert. withi

have you had any contact with janet yellen? i mean, you know, there's also talk about larry summers who used to have your job, the top economic position in the obama administration. who are you expecting to work with? >> you know, when the president has a decision to announce, the president will announce that decision. i have nothing more to add to that. >> have you worked with janet yellen at all? can you tell us anything about her? >> you know, the economics community is such that most economists know each other's work, know each other personally. so i think that's sort of the nature of our field. i think we're all interested in key issues of the day, how we can keep this recovery going, how we can provide more opportunities for american families who have been struggling in the economy over the last few decades. >> and just not to put too fine a point on it, sir, but you didn't deny that bernanke was leaving in january. >> you know, i don't know -- >> he's leaving. everybody knows he's leaving. >> -- plans. when he has someth

>> well, the easy bet would be janet yellen. and i suppose because they floated the trial balloon that the next in line would be larry summers. either one of those would be a good choice, i think, for the president. >> you know, what would be the difference, you think, in their policy? i mean, larry summers, i think, is highly regarded on wall street, being very smart. is his policy going to be different, because he did complain and criticize staying with qe for as long as the fed has. do you think his policies will be different than janet yellen's? >> i don't think he could have very different policies at first. i think in order to get the job, he's going to have to make a wink and a nod toward an easy exit from quantitative easing. i think they both would be very cautious in moving away from it. i do think, though, that he's more likely to move away from it sooner than janet yellen is. she's been a -- she's been there all along when it was -- when it was devised, and she's more committed to it, and she's more part of the fed i

janet yellen? larry summers? who they pick for the job. >>> plus the futures giving a little ground back yesterday. you see dow futures up by 55 points. s&p futures up by 6.5. "squawk box" will be right back. [ kitt ] you know what's impressive? a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ brown: on my third day as principal, i met with the state. students had fallen behind, and morale was low. my first job was getting everyone to believe... that we could turn this around. i needed my staff to see what was possible. turning around a school, is not some, mystical, magical thing. it does take hard, dedicated work each day. i was a chemistry major in college, and then... i joined teach for america. that's the reason i'm here. . >> welcome back to "squaw

some democrats in the senate in particular had been behind janet yellen and said they would like to see the first female fed chair, were not so comfortable with summers. he made a very strong case in those meetings for larry summers, and he said don't believe everything you read in "the huff post" when it comes to summers' view on monetary policy his track record working with him. he's pushing back hard on this idea that summers is somehow unacceptable to the left. that should tell you a lot about who president obama wants. >> a nice little poke from the guys at "huff post." >> the president said it not me. >> mr. summers is alternately lauded as a brilliant economist, but he's also a controversial and sometimes asiddic guy. >> to me the most constructive thing is the passage of time. if the president has an easy choice of janet yellen and doesn't float any trial balloons, doesn't mention, it doesn't even use that as a mechanism to push back when the fed started talking about the exit six weeks ago, probably means that he doesn't really want to do it and is thinking about other candidat

will larry summers or janet yellen be the next federal chair? these seem to be the two front-runners among the possible contenders to replace ben bernanke but neither of them believe in clear monetary rules, neither of them have a history of targeting king dollar or gold or commodities or nominal gdp. i don't know. are they two peas from the same liberal pod or are there real differences between the two? let's bring in ben steele, author of "the battle of brenenwoods" and jim path koukis. tell me what the differences are. jimmy p. >> that's the wrong way to look at it. i would look at it like pre and post. we didn't know much about what larry summers thought about monetary policy. to me he's a prefinancial crisis thinker about monetary policy, doesn't think the fed can do much when interest rates are very low. there's i didn't say precrisis thinking. yellen is a pro-crisis thinker who thinks a couple time every couple hundred years you need to -- i think she does believe in a nominal growth -- >> whoa! when larry summers was in the treasury depa

yellen will get the job. >> do you think that janet yellen wants to be the one to pull the punch bowl away? wouldn't she rather have bernanke do it before he leaves? >> i don't think she cares. >> it's been a resilient stock market. just when you thought we were going to have a steep correction we had one that lasted four or five percent. >> you're pointing out that we're at five year highs for equities but that includes the bottom of a business cycle. rates are exceptionally low. if you look at this rate environment, they actually still look cheap. really what's going to shake equities is if it gets volatile again but people will settle down and when they do they're going to continue to my grate from the safe trades into cyclical and things like that. anthony was pointing this out, too, with the hedge fund concentration in gold. it's a safety trade or inflation trade. when you see them peeling that off you see come placesy and the options markets reflect that too. >> i would make the case that equities are not particularly expensive. they're not as chief as they were in 2011 but they

on the one hand you've seen a campaign for janet yellen being kickstarted. you had alan blinder on the op-ed pages of the "wall street journal" today talking favorably about her candidacy. what you've not seen thus far is a real reaction from senate republicans. the likes of rand paul and ted cruz are holding their fire on twitter, and we really don't know if whoever obama puts forward can get those 60 votes in the senate yet, around that's the key criteria. can they get 60 votes, and that's going to take at least six republicans. >> do you agree with that, eamon? >> yeah. >> it does come down to who is the best person for the job obviously. >> well, yeah, and comes down to who can get the votes for the job, too, sue. that's the key. josh is right. it will come down to how many republicans they think they are going to get. they will lose some liberal senators on the left. there's no question about that, and some of those might be some of the people who signed on to this letter that's been circulating supporting yellen, so they were going to lose some of thos

quite sure why he suddenly became favorite and now back with janet yellen. >> is he favorite? >> i don't know. i didn't think he was. then a lot of people came out of nowhere, really. >> a lot of polls i've seen is that yellen was definitely the favorite. but -- >> that's what i thought. anyway -- >> i've seen a study with google trends and big uptick. that monitors news flow rather than polls. maybe that's what people are focusing on. >> yeah. how much will it matter on the margin? >> in terms of policy? >> in terms of for investors, yeah. >> yellen is much more of a consensus builder. and perhaps it will see a more stable view from the fed if she's in charge. and consequently that's perhaps a better thing for u.s. equities in that respect. >> investors will know more of what they have got. >> right. >> that's -- they would expect a sort of continuation of broadly -- >> broadly of bernanke's policies, because he's -- she's consensus builder. i think it is a important to emphasize, the stability in the markets yellen would create. >> james, thank you very much. >>> what is on

yellen or larry summers as the next fed chair. what are you hearing? >> i heard a third name mentioned, don kohn, under alan greenspan, worked under bernanke for a while, and i think 37, 40 years at the federal reserve. if that name was mentioned -- and i think the fed -- the president let this process get out of control and didn't -- and really let the whole thing spiral to the point where both of his top candidates, if it was janet yellen or larry summers, have been sort of damaged by the process. so maybe injecting a third candidate here might take some pressure off of both of the other candidates. let the process simmer for a little while. he wants to make this decision, or tell us it's happening in the fall. but the understanding is that summers is still the lead candidate, but i heard he got a lot of pushback on that. >> hey, steve, steve! i have to tell you, don kohn has been the wild card on this trading floor -- ira harris three months ago had a discussion. that name kept coming up. floor traders, especially the old-schoo

janet yellen, we know what her views are. she gives speeches at the time. we know how she votes. she maybe a little more dovish than bernanke. larry summers has been, he talks about all kind of economic issues. he does not talk about monetary policy. really, that report from last week on his comments on qe, they were limited. they weren't, you know, he is not out there every day saying here's what i think. >> down it matters there hasn't been a trial balloon? i know the obama administration likes summers. he has been really loyal. >> they probably liked it. probably would be the preference. they haven't had a trial balloon about yellen. is she the favorite right now? >> i don't think it's prohibitive at ul all that she gets the job. >> there is another thing, too, we can listen to what the president said. what is important he makes this critical decision as someone who understands the dual mandate of the fed. we spend a lot of time talking about inflation t. president made it clear he wants someone in the job who will be thinking about what it means to maximize unemployment. >> h

janet yellen and larry summers are emerging as the two front-runners. now, congressional democrats have been circulating a letter praising yellen and former vice chairman of the fed also endorsed fellen. blinder wrote, quoting now, i can't say that janet yellen is tan and rested. she has been working far too hard for that, but she is certainly ready. now, one person who didn't reveal his preferred choice for the position this weekend was treasury secretary jack lew. take a listen. >> chairman bernanke has been extraordinary and remains an extraordinary fed chairman. i'm going to keep private any conversations that we're having with the president on the question of when and what kind of succession there should be. >> now, with the president and congress facing a september showdown over both the budget and the debt ceiling, it's highly unlikely we'll get an announcement on ben bernanke's successor until october at the earliest. ross? >> all right. okay. hampton, thanks for that. that's the latest from washington. shari, you heard hampton's report there. w

janet yellen gets it right on inflation. yellen and the other pro stimulus doves were right about inflation not being a problem. she had the best forecasting record, that according to the "wall street journal" survey. so does this mean yellen is the best candidate for fed chair? and will president obama's fiscal stubbornness lead to a government shutdown this fall? he wants to end the budget you cutting sequester and raise taxes and get a no spending cut free ride for raising the debt ceiling. you know what? ain't going to happen that way. and how mu

yellen. unbelievable. >> if you had to guess who would make the front page, you would say sac, but it is the fed. we have seen speculation of larry summers being the next chief, and yet he is the guy who raised questions about the qe3. and the hills and wrath, the "wall street journal" came out to talk about what is going to happen at the fed meeting next week and say they may reiterate the targets. what do we mean by this? they will call it forward guidance which is a fancy term to talk about the targets to make them more explicit. so that the fed may be saying, hey, right now, 6.5% unemployment rate before we stop the low rate policy, and maybe move it down to 6.25, and when it comes to inflation, they may spell out the bottom of the target range and say something below 1.5%, we will stay out there. why would they do this? in part, because there is a sense that the fed wants to taper. they have a massive balance sheet, and buying all of the security s th securities that may be causing disru

david rosen berg out with a growing endorsement of janet yellen and karen finerman out with what she thinks it should be. that would be? >> larry summers. i think it would be a better choice. full disclosure. i know larry. he's a friend of ours. personally i like him but that's not the issue. i think he's had more real world experience around the world, not just in the u.s. in 1994 we had the mexican peso crises. he was right there for that, undersecretary at the time. he was there in 2008 was a central -- >> i share your positive views on him but is he appointable? here's a guy that was around for the fall of -- a lot of people who make this appointment that would say ultimately this is a guy that led deregulation and knees now running for a position or should be appointed to a position which is all about regulation. >> i think yellen is easier but i think summers is absolutely appointable. if obama wants him, that's who they're going to get. if you think about it you think, well maybe the republicans wouldn't like him, i think relative to yellen he would be more attractive. so i th

janet yellen, stanley fisher from the bank of israel, don and larry summers of course. and i think there's a key difference here between larry summers and the rest. that is the president worked with larry summers. he knows hailarry summers. he trust hem. him /* he has a record with the president. he may be choosing someone he knows and trusts. so i think that will count in his favor. >> all right, we will leave it there. thank you very much, gentlemen. we will see what happens there. we appreciate your time tonight. after a big decline in the month of june, dow and s&p 500 are back to all-time highs, battling back. but nearly half of all-americans missed out on the rally because they don't even own stocks. jeff cox says that's because they don't know wall street. >>> and we have special coverage of all-time highs tonight. we have man managers and strategists. it all kicks off tonight at 7:00 p.m. join us. the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price

i think they're more pushing towards janet yellen. >> i remember a guy who was very prickley, didn't have a million friends but was very effective. his name was paul volcker. i was in the reagan white house when volcker was slaying inflation. i'm just trying to figure out what he would stand for because he has different opinions between the clinton years and the obama years. >> yes. and i think that he will lean towards that leadership. my guess would be that he would lean towards what obama would put him in that position for. but i think that appointment would be very controversial in the market if not among other members of the fomc. i recognize that you say that there have been other prickley leaders at the federal reserve, but certainly larry can be opinionated, he can be very strong willed. in a collegial environment, such as the fed, when you've not come up within that environment, i question whether or not that's the appropriate environment, not to mention the market reaction to that level of uncertainty. >> it might be pretty positive. i'm not taking a position one way or the

is it yellen? is it liesman? >> it's not liesman, but wall street overwhelmingly thinks president obama will and should pick janet yellen to be the next chairman of the federal reserve. these are the preliminary results of our cnbc july fed survey. it was so overwhelming. yellin 70%, the pick of president obama and summers just 25% the pick to replace current fed chairman ben bernanke. now on the question of who should obama nominate, yellen 50%, bernanke 12% and write-in candidate john taylor comes in ahead of larry summers. these are the top five categories. we asked about ten. these are the top five categories here for what qualities a fed chairman should have, monetary policy, crisis management. you can see if you do the totals there, yellen beats summers in four of the five categories. >> wow. >> inflation concern, 3.2 is the only one where summers beats yellen by just a little bit. in fact, yellen beat summers in seven of the total ten categories we asked about. summers gets better marks on respect for inte

larry summers versus janet yellen. does yellen win because she's a woman? does summers move because he once disparaged women in math and science? we'll talk about it. plus, tonight get this, the same irs workers who will be forcing obama care for all of us don't want to be forced to go on obama care themselves. you know what i say? they should eat their own cooking. we thought anthony weiner were the ethically

yellen. so i think we're going to have a lot of uncertainties. let's throw in egypt, and who knows what else from overseas, that's going to drive volatil y volatility. look what we have from december to mid-may, it was actually very unordinary in terms of the lack of volatility. and i think this is a much more normal environment, albeit we still think stocks are going to close the year higher from today's levels. >> all right. gordon, i was saying on twitter a little while ago, by the end of the day, what will be larger -- the gains in the market or the asterisks we put next to the gains, given where we are in the holiday and so forth? >> one of the things everybody talks about, the fed, when you going to reduce, how much, and, look, what we saw coming in, the futures strong today, the european policymakers essentially said, look, nothing is set in stone. we'll do what we have to do. you know, it's like the serpent eating its own tail. what's really driving it here? the fact of the matter is,

clients, wall street in general, centered on janet yellen. this advances something people aren't talk enough of, that's how close relatively speaking larry summers is to being near the top or at the top of being nominated. >> what? let's assume we get summer as next fed chief. >> our view is that inevitably janet yellen, larry summers, interchangeable, they have to continue the bernanke policy. we had lunch with a senior republican lawmaker who when i said what are the odds that larry summers can be confirmed, let out one of the loudest laughs that i have heard in quite some time. whether he's nominated or not, whether he's confirmed is really a separate issue. >> we did a snap survey, at cnbc, following i guess friday's jobs number. the consensus, september taper, average asset purchase reduction of 22 billion. does that seem in the ballpark? >> i think it is. when you see that tapering begin to happen, that in itself is probably good news. it's anticipation of the taper. that's what people are afraid. you probably drift. drift for here anot

yellen is the name coming up. and that was friday. of course, yesterday from the washington post, he is hearing that people inside of the beltway it is larry summers. these two are not inkon sconsis and they highlight what is going to go into picking the next fed chair. do you pick the guy who is more in the green span and bernanke ilk and wonkish or somebody who is more political savvy for the role. a couple of weeks back, cheryl said that they didn't know that bernanke would be a kind of guy they would pick, and now that summers' name is being floated and seriously talked about it, it tells you what emphasis the white house is putting on this role. somebody they feel comfortable with and know, and markets can respect and also a key for fed leadership. and summers is seen as a consensus builderer and yellen not so much. there are a couple of other moves happening with the fed board as well. we know that sarah dukes laskin is leaving for the board as well as dana raskin. yellen is more attractive and she would cas

janet yellen, none other than the one often presumed to be first or second in line in running at least we should say to succeed ben bernanke. dudley is second. two come out well in the tally. who didn't come out well? anyone who is hawkish inflation. we have clauser. we should say this isn't just about economists verisus bank presidents. looking at how the economists did like kocherlakota, but his forecast didn't look great. meanwhile, elizabeth duke, not an economist by training, he's leaving the board, but she did better. what's the point? as we start to think about who markets want at the helm of the fed who they trust, someone like a yellen, whose view of the world has been out there and proven right, is going to have more credibility. what we don't know actually as much about larry summers. we don't flow right now quite as much as how he sees the world and what he might do as the fed chair. >> why is the press this weekend so horrible for summers? mar than vineyard, you -- he doesn't need internet connection. >> why? what happened here? the long knives are after this guy. >> i don

yellen and then second and third were pretty close between larry summers and tim geithner. out of those three, who would your choice be, if any? >> i don't know, look, the good news is ben bernanke is leaving, the bad news is one of those three is going to replace him, you know, i don't know. i suppose whoever they end up going with will probably be the worst but, you know, you don't really have -- you don't really leave me any good choices there, so i don't even know how to answer that question, you know, i don't know which one would be worse -- >> if you were trading ten-year notes right now, we're almost out of time, would you be trading on the same side of the card for the next couple weeks with the fed or would you wait to challenge the way the market seemed to several weeks ago? >> well, you know, obviously the yields have backed up quite a bit in a short period of time, so a short-term trader, you know, it might be hard to, you know, just to continue to short the bond market but i think that's the big trade. if people are looking for, you know, what's the next potent

. >> i think don kohn, janet ye yellen, different pluses and minuses. i think obama has a strong short list and i don't envy the task. >> larry simmyer summary su tim think? >> i don't know if he want it is. think he doesn't want to be in that spotlight. >> he's making more than you are per speech. >> i don't do per speech. >> you're make more overall. i like it better. >> anyway, gentlemen, it's been a pleasure. >> he wants to get out of here. god, all mighty, what did i sign up for. you got to sit in becky's seat. >> thanks for having me. >> and to your colleagues, get larry in here. when you're managing 40,000 trillion dollars. >> not quite that much. >> thank you. when we return, dick parsons will join us for the remainder of the program. his views on financials, the economy, much more. he's making his way to the set right now. and then eliot spitzer live at 8:40, we'll find out what he thinks he needs to do to make to be the new york city comp controller and what it will mean for wall street if he's elected. weekdays are for rising to the challenge

he should pick yellen. >> i think janet was a hawk in the mid-'90s. >> clear need for using him. >> don't have to hang on her. you think that too. >> i don't know if it is relevant. i'm telling you what i think janet thinks. >> i know you are. but you're not telling what you think she thinks in a way that i'm telling you and she thinks this. >> i agree with her, but keep listening to the other side and i don't hear a good argument on the other side. i keep listening. i keep asking the questions. >> i'm with you. let's just do it forever and go to -- >> the committee decided that tapering could come sooner rather than later. is she not in -- in thinking with that consensus. you think she's an outliar? >> i think she's less concerned about the costs of qe than probably your average f omc member now. >> let's see if we argue it out. let's see if the economy gets strong enough to where they hit the targets they set, unless they change the target. >> i think they'll get out. we have the discussion that somebody asked me about, like what would happen if unemployment stayed at 7% forever. i thin

yellen, and what's interesting to me were the two categories, monetary policy expertise and how much janet is seen as being better than suppers on the issue of unemployment. >> going to be an interesting fall to say the least. have a great weekend. ty, down to you. >> do you have a psychotic boss or business colleague? just saying. we'll tell you how to get revenge and stay out of trouble at the same time, but, first, the power pitch. >> coming up, power pitch, startups give us their 60-second pitch. >> hi, i'm henry wine garden. >> and we give you insight into the fast-paced world of venture capital. >> how can food change in the ever changing landscape? >> do these founders have what it takes? >> are you in or out on fooducate. >> stay tuned to find out. on the exhilarating c250 sport sedan. ♪ on the exhilarating c250 sport sedan. she's always been able it's just her way.day. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. an

janet yellen is a really, really strong candidate. so, by the way, is christina romer, who was a very key official during the first obama term. there are a lot of women very qualified. when you make this a boys versus girls fight, you actually detract from the fact that yellen has a very strong case to make, on her own, rather than as a woman as such. so, i think they are making a big error if they want to boost yellen. >> and dean, on paper, let's just talk about this, the qualifications. they are both qualified. they see the economy in different ways, but yellen, vice chair of the fed board and led the federal reserve bank of san francisco. very well known. summers, former treasury secretary and the president's national economic council director, among other things. why in the world should the new york times bring up her jender? that is to me like saying, box checked to help you get it over the guy. >> i don't think they should vote getter whatsoever. i'm very in favor of diversity and >> so you cross it and then there is another on

will it be larry somers, janet yellen or someone else? it's unclear. >>> coming up, an american among the dead in the awful train crash. we are live at the scene as the investigation continues. >>> michael jackson drugged? what the latest witness is saying at the wrongful death trial. >>> a horrific scene in spain as the death toll rises. >>> juror b-29 exposes her face and the reasons why she could not find george zimmerman guilty. >>> anthony weiner admitting he had six to ten online partners but says no, i am not an addict. >> three after he resigned. not just one, three. >>> welcome back to "early start." i'm christine romans. >> i'm michaela pereira. the death toll is at 80 in the train crash in spain. at least one american was killed when the high-speed train flew off the track. shocking watching that video. a woman was in spain to pick up her son after a pilgrimage. her husband and daughter were on board along with dozens of others. the investigation into what happened is far from over. a place many american tourists have been to.

. >> you put out an open letter say why not yellen. >> i have met janet yellen on two occasions. she's very well thought of. she knows the fed, and she's very highly qualified. a woman as head of the federal reserve, a qualified woman, would be a very positive thing for this administration. >> i want to turn to san diego, mayor bob filner, as you know, there's been already a lawsuit against him, a number of women have come out and said that he sexually harassed them. he came out, basically said, yeah, my behavior has been bad. i'm going to go into rehab for two weeks, but i'll still stay as mayor and look at city business in the morning and in the evening. should this man resign? >> i think he should. i think he should. of all people, bob filner knows what public life is like. he served a time in the house. being the mayor of a big city, you're a role model for people. you're either inspirational to people or you aren't. it's a very tough job. and i don't think that somebody who is lacking a moral compass really sets a role model or really will provide the kind of leadership that

janet yellen and larry summers. both are well respected. wall street likes yellen because she's going to keep giving them free money for free. that's what think think. others are more keen on what they say will be summers' tough love. >>> who is to blame for the deadly train crash in spain? tonight, the driver of the train has been detained by authorities who are trying to figure out if his zest for speed played a role in wednesday's derailment in which at least 78 people died and that number will go higher. the conductor whose face, as you'll see in just a second, was covered in blood as he was taken away from the scene. you can see him there. he is no longer talking to police, but that's pretty amazing that he was on a cell phone with just blood on his face when he was in that front car. carl penhaul is out front. is arrest the next thing for the conductor? >> reporter: well, he is under former detention, the police chief said, and he said he will accused of crimes relating to the accident. when he was asked what that meant, the police ch

but janet yellens that her fierce advocates, too, and more than 20 democratic senators are sending the president a letter urging him to pick her. the snowstorms praise yellen, saying, quote, her independence, rigor and willingness to challenge conventional wisdom regarding deregulation make her perfect for the job. larry summers supported deregulation in the banking world. this is an indirect dig. big picture, senior white house officials tell me the president has not decided who the fed chair is and has -- isn't planning to make an announcement until fall. we are away head of the game. >> let the debate begin. jessica yellin, no relation to jan janet. >> not that i know of. >> coming up, horsing around and the drive through. cnn's jeanne moos is next. i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can

they say it should be janet yellen. editorial andthat i hope everyone endorses janet yellen. she is extremely well-qualified. she is stable. she is rational. she is independent. she is the quintessential public servant. she is not in the wall street much which has driven too of decision-making. even though i disagree with her on monetary policy, i have also said she is best equipped to get us out of it because we had a vision of how to get into it. anotheration, which is important function, she would be much better than the other candidates. host: the other candidates -- larry summers, why not him? guest: he does not have experience in monetary policy. i am troubled by his push for deregulation. he does not regret much of that. i do not know where he would be on monetary policy. my guess is there is probably not much difference between him and janet yellen. i regulatory half -- on agulatory, there's probably huge difference. host: host: let me read a little bit from this "new york times" editorial, referring to what you ,all the wall street club including robert rubin. in 199

the next race to become the fed chief looks like a race between janet yellen and mr. summers. -- lawrence summers. the summers with the president brought those homicide during the 2009 financial crisis. -- larry summers was with the president during the financial crisis of 2009. that is "the wall street journal" -- today" playsusa the speech -- groin elk grove.oak good morning. caller: his policy is pretty much the same since 2008. the policy of blaming one group against another. if you go back to listen to his speeches, he always vilifies one group of people whether it is the oil industry, banking industry. i hope that some of the people of galesburg were -- are listening. i was disappointed they applauded politely when they started-- when he talking about the sequester. we see constantly pictures of barack obama signing the health his people around him. a cute little child standing there. let me remind everybody, he signed the sequester bill exactly the same way. we never see that anymore. why do you think he did that? he is using that as a way to vilify another gro

yellen and , the two who have been mentioned. those, the trade adviser, and someone from omb. can we add your name to the list? >> i am not sure it is helpful for the process for names like that to be in public. people should speak for themselves. i think everyone you mentioned follows the ethic that whatever advice they provide to the president and others remains confidential. that is something i will live here too. >> that is a no? >> you can take it as a no comment. >> knowing the president, what qualities will he look for in a venture? >> i can point to the comments the president made last week in an interview with "the new york times." i do not remember who asked the question. he said he is looking for someone who supports the fed's dual mandate, someone who recognizes the actions the fed take affect ordinary americans. also someone who has judgement to know the right balance between supporting the economy and possibly over heating inflation. those are the characteristics the president mentioned. >> tomorrow when the preside

yellen, the two who have been mentioned. among those others, the trade adviser, and someone from omb. can we add your name to the list? >> i am not sure it is helpful for the process for names like that to be in public. people should speak for themselves. i think everyone you mentioned follows the ethic that whatever advice they provide to the president and others remains confidential. that is something i will live here too. >> that is a no? >> you can take it as a no comment. >> knowing the president, what qualities will he look for in a venture? >> i can point to the comments the president made last week in an interview with "the new york times." i do not remember who asked the question. he said he is looking for someone who supports the fed's dual mandate, someone who recognizes the actions the fed take affect ordinary americans. also someone who has judgment to know the right balance between supporting the economy and possibly over heating inflation. those are the characteristics the president mentioned. >> tomorrow when

the two sort of known favorite candidates janet yellen that we've currently got as vice chair and larry sommers. among the allies in the white house for larry sommers are your successor as chairman of the council or economic ad visors, gene sperling, the president's economic adviser. the trade adviser, mike froman, and -- [inaudible] can we add your name to that list? >> you know, i'm not sure that it's really helpful for the whole process for names like that to be out in the public. people should speak for themselves. i think everyone that you mentioned follows the ethic that whatever advice they provide to the president and to others remains confidential. that's something that i'll certainly adhere to. >> and so that's a no. [laughter] >> i think you can take that as a no comment. >> so knowing the president, what qualities will he look for in a fed chair in. >> i could just point you to the comments that the president made last week in an interview with jackie collins of "the new york times." you know, he's d. >> and michael scherrer. don't leave out mike. >> i apologize. i don't rem

it's not to dis janet yellen, but a candidate who is a much more progressive candidate, with different ideas entirely about regulation is essentially not even part of the conversation. part of the calculation may be lets create a set of parameters around this debate that doesn't let anybody within the realm of possibility of being appointed to this position, who may have fundamentally different ideas than what's between janet yellen and ben bernanke over here and larry summers over there. there's not that huge a gap there. cenk: david, if you're right, i want to be in the room jayar described even more where they cook up the strategy. we want yellen, and she's pretty far right, let's throw larry summers out there and have people wig out and say fine, we'll give you larry yellen. shall we go with yellen or mitt romney. we're going to take a quick break. when we come back, america's scariest cops. you'll agree with us when we show you. cenk: crazy cops. back on "the young turks." mark kessler is the head of gill berton police departments. he believes that all liberals are lib tards, vile

larry summers angling to replace ben bernanke everyone assumed it would go to janet yellen. why is this happening? since when do people campaign for this gig? >> it's a good question. i -- i think i am one of the many who wishes that larry would take a long summer vacation. pardon the pun. but i don't think -- there are not many people in the progressive movement that are clamoring for larry summers to be in that post. so, hopefully, this announcement that things would be delayed for a while is an education that the administration knows that larry summers is not going to be the right person for the job. >> yeah. it seems like it's a trial balloon that did not go way up in the air, and i think that you are right. >> no. it was a very bad trial balloon. it was the kind of weather balloon, perhaps, that crashes in the new mexico desert only to confuse locals into thinking there was some kind of an alien spacecraft crash. it was that bad. >> why you launch them. sometimes you see them crash. let's go from new york to d.c., and then to rome. the pope surprised everyone when he sa

janet yellen or larry summers. some controversial comments hurting his chances and anthony weiner, we'll talk to the man who conducted the latest pole. and tech grim reaper, putting another one on death watch. cue the organ. i was right about the phantom pig. and the dow set to open 50 points down or more, is that because of harry reid next. i want to make things more secure. [ whirring ] [ dog barks ] i want to treat mo dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling a. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security y need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ ♪ come with me and you'll be in a world of pure imagination ♪ . stuart: who came up with that? that's good. are the facts pure imagination? and one whose group was targeted is fired up and on the show later this hour. we're close to the openi

why not go for a janet yellen? is president obama tried to kill the market with this choice of summers? >> i still think that she is the odds on favorite. larry summers really does not like financial regulation. the bond vigilantes, they do not like someone considering an inflation dove. janet likes quantitative easing. i think janet yellin will be picked. i am not sure that the markets will necessarily like that. >> i think that janet yellen will come out on top. she has been a little more dovish. she has voted with the majority. i think she has been a great number two. she is well thought of by her peers. again, i think this is a moment where the president can really make a mark on the fed. cheryl: that has to be addressed. the first time we would have a woman running the federal reserve. we still have not had a woman as president. there are a lot of issues when it comes to women. let's talk about his time at harvard, for example. >> deregulation, the removal of glass-steagall, a lot of people blame it on those m

janet yellen, larry summers who has got the upper hand? the man with the inside track on so many things federal reserve, jon hilsenrath is live next. david: he really moves markets on this subject. >>> the president looks to shift the conversation back to the economy in a whole series of speeches that began this week, his big push, inequality. it is job number one for him but what is really more important to our nation to the businesses in our economy? equality or growth? we are going to debate that with an all-star panel you can not afford to miss. coming right up. ♪ [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fee ♪ it's not rocket science. it's just common sense. fromd ameritrade. ♪ ♪ ♪ [ male annocer ] if y can stand the heat, get off the test track. get

they don't know janet yellen very well. she keep as low profile. she's very well-known to people at the fed and in the academic community but she is much more of an unknown quantity to the obama administration. >> though still the concerns about summers for a number about democrats, they think he is too cozy with wall street. he is too in favor of deregulation and they're continuing this push on capitol hill against him this is something that will play out over the fall according to the white house's likely timeline. if you look how much time they do have, the current fed chair ben bernanke, his term ends at the end of jjnuary 2014. back to you. ashley: got a little ways to go yet. rich, thanks so much. appreciate it. >> yeah. tracy: so they're called worker centers. non-union worker advocacy groups helping workers appeal to employers and while not considered unions by law some are claiming that they're just unions in disguise on the prowl for more members and more money. fox news correspondent mike emanuel has the gory details of this story. hey,