At a the financial crisis theater near you. And netails on the fcc neutrality. We begin with new developments in the crisis in ukraine. Yesterdays were vote in Eastern Ukraine . Thats a good question and its when the unit b the European Union and United States are questioning big time. We saw the selfdeclared peoples republic both claiming they had separatism,port for independence and eventual annexation by russia. But in fact this is a lot of disparity to some credible polls we saw over the last couple of weeks, including the pew center who did a poll showing in western ukraine, more than 90 of the people supported a unified ukraine while even in Eastern Ukraine, where largely russia is russian is spoken, you have 70 support. Our reporters on the ground have seen a lot of people to support unity and remaining part of ukraine did not even bother going to the polls because they considered the vote to be rigged in advance and not cluttered not credible in any way. The eu today came out with a statement, concerned about program russian separatists groups continuing to destabilize the situation, kidnapping, the seizure of buildings, and keep in mind this is part of the reason that these sanctions went forward today. Everyone is looking forward to may 25th and how they are going to behave around that election. This was as a result of the vote yesterday. How far do these new moves go . Very much so. It is significant on one level. As the first time the eu has gone to stage two sanctions. That means sanctioning entities, companies, not just individuals. Are sanctioning 13 individuals and to companies and crimea they havent listed the names yet and well have those out as soon as we know who they are. Last week in brussels, the ambassadors got together and discussed sanctioning some Russian Companies and crimea that sees crimean assets. What they have done at this point is sanctions done on crimean companies that are effectively now Russian Companies. The next stage we want to look at is whether there will be stage three sanctions against entire sectors of russias economy. Because aeen delayed lot of countries are concerned about the impact its going to have on their own economies and the trade they have with russia. The pledge and had today and said we are Going Forward with this massive 1. 5 billion sale to russia of two helicopter carriers. They have to do this otherwise they would be paying huge penalties to russia for nondelivery and they point out military sanctions do not exist at this point. So at may 25, we will be looking at possible sanctions to distribute the pain across europe if it comes to that. We also heard that gas prom, the worlds biggest natural gas provider, is threatening to cut off supplies to ukraine. How likely is that threat . This is a very big deal. The ukrainians 03. 5 billion dollars for gas that has already been delivered and they need to pay that by the end of this month. Behind that is a dispute over the price of feature gas and i can see the possibility of gas prompt cutting off over this pricing dispute over the summer. Bythey dont dissolve it fall, youre talking about an effect for ukraine and possibly the European Union. Thank you. Ukraine and russia, coming up, we have a geopolitical Intelligence Firm ceo joining us and on bottom line echo lawmakers are getting an earful about the potential of opening up their space to drones. The lobbyists are not all coming from the drone industry. Megan hughes has more on the story. Who is spending and who are we talking about . A big shift we have seen over the past five or 10 years when you talk about the drone lobby. Its not what you might think. Traditionally we have seen in the past your traditional defense companys like norfolk elder of the atomic and the predator drone those companies are still very involved in washington, but joining in the mix, youve got the Motion Pictures as he asian, the National Association of realtors, amazon, other delivery companies, agriculture groups, there are actually 68 groups reported lobbying on some aspects of drone issues. In 20 12, 2013, take a look at the landscape of that and half of them were weighing in on domestic drone use. Withg nothing to do defense, its really just a sign of how Many Industries are hoping to make money from these drones. Usingtalked about amazon the drones for deliveries, but what about those other companies . What do they hope to get out of the use of drones . A huge disparity in what the goals are, but a lot of it has to do with some aspect of. You that the movie industry drones can save money and provide dramatic footage like this shot on the movie sky fall. But its technically not allowed under faa rules, so its pushing a lot of that drone use overseas. The Motion Picture association spent more than 4 million on lobbying in 2012 ad 2013. They are trying to get approval in the United States. Another industry lobbying is journalism and broadcasters. Theyre looking at a four traffic, news, breaking news and disaster type situations of stop there was footage of the tornadoes in arkansas that aired on a local news station in the faa is investigating that footage. A lot of industries are starting to push ahead and go ahead with using drones when technically its not allowed right now. All of this lobbying is pretty much on the same side, companies wanting to use the technology. A lot of them are, but there has to be some controversy or else it would be a very easy case to make. If you take a look even in the agriculture community, youve got one group who wants to see more drone use and another that represents manned planes will chemicalss that fly to fields, they are worried about safety and operating the same airspace as these drones. Groups, defense lawyers, the aclu wants restrictions on police drone use. You have pilots groups concerned about safety. That, yourom all of got huge group of universities and local governments lobbying they are not really for or against any kind of specific rules, theyre just doing self motion, trying to get their own university to get some funding to do some testing. But there are a lot of entities that see some opportunity here. Megan hughes, joining us from washington. Thank you so much. Former treasury secretary tim geithner joined a legion of former government officials who released insider accounts of the darkest days of the financial crisis. And there are more to come. Our white house correspondent, phil mattingly, joins me now with more on the business of the financial crisis memoir. Good afternoon. They are the people who were leading the effort to save the economy back in the darkest days of 2008 and now they are telling you about it. Weve seen a number of former top officials involved in the bailout process and financial reform releasing tell us releasing tell all. She let there, the former fdic chairman and hank paulson, the treasury secretary, now we have tim geithner, who was at one point ahead of the new york fed and moved over to be president obamas treasury secretary. We see an effort here to set history. There will be a number of others ,oming out ben bernanke currently at the Brookings Institution working on his book now. Also barney frank, the democratic congressmen who led the house effort on tarp will be releasing one soon. As you well know, these books and movies can be equal parts history and sometimes theyre just put out to settle scores. What former officials have fared the best so far . Thats a great point. The insider account is as washington as a gets. Its not even the people writing them, its people participating anonymously. I think what youve seen from tim geithner in his Public Comments and you see in the book as well, they are trying to get their viewpoint of history on the record. They want people to know where they are coming from because as you and i have talked to people who officiated in this who participated as prospect, if you are not writing it, you lose control of the narrative. , particularly some outsider accounts that have come out looking very good one a believer not as hank paulson. His book is a New York Times bestseller and the accounts sorkin,by andrew ross they came out very well. Tim geithner has come out well in a lot of outsider accounts. Depending on your perspective ideologically, you may not agree but both of these gentlemen at the tip of the spear at the tip of the spear have come out good in the end. Ground control for controlling the narrative in washington. Thank you so much. Euoning russia ministers met in brussels today and decided to expand sanctions against russia. We will take a look at how effective they are likely to be. That story and more when bottom line continues. European Union Foreign ministers have agreed to expand sanctions imposed on russia over its stance on the crisis in ukraine. Lauren goodrich is a senior political analysis at a geopolitical Intelligence Firm and joins me now from austin, texas. Good to see you again. Thank you for having me. Last time you and i spoke was back in march and you said at that time that sanctions against russia wouldnt be effective without the europeans being fully on board. Has anything changed in the past two months . What nothing has changed. Extensiveans levied sanctions on russia but its a mere fraction of what the u. S. Has done and even those sanctions are not effective against russia. The current sanctions levied today were an expansion to 13 russian and ukrainian individuals involved in the crimea annexation as well as two crimeanbased companies expropriated ring the annexation. Russia has shown it is rushing off the visa sanctions on the individuals. It hasnt really affected anyone thus far inside russia. Now the eu may be moving toward companies, but they are only thus far targeting crimeabased companies. If russian businesses and banks are not targeted, whats the point of this . Do further sanctions risk undermining the economies of some other eu Member States . A symbolic, its move. You have to show its doing something against russia, so its doing rhetorical moves. Were actual real economic sanctions on russian firms that would undermine the economy, even the Austrian Foreign minister over the weekend that he would not be in favor of expanded economic sanctions as it would destabilize his own country. In europeans are not agreement yet on actual real sanctions against russia right now. What about the high turnout in Eastern Ukraine . What does that tell us about the will of the people in the region or the influence of moscow . Controlunclear how much russia actually has on what is taking place inside ukraine. Yes, there is Russian Support and russia is in favor of a chaotic and unstable ukraine. But russia itself does not want to annex Eastern Ukraine. It cannot economically, financially and socially supported. Its a very different region than crimea, which is primarily russian ethnically. Eastern ukraine is the front and russias not ready to support fully economically, financially, militarily at this time. Russiadoesnt mean doesnt like the chaos and instability taking place because the more chaos there is in ukraine, the more the government in kiev will have trouble actually passing real legislation that would undermine russias influence inside ukraine as a whole. President ial elections are scheduled for ukraine on may 25. Is russia going to try to disrupt the vote . Russia backed off that last week. President putin said the elections on may 25 could actually be a first good step toward an agreement in ukraine on decentralizing power. Russia is showing there is some wiggle room here in the way for russia, ukraine, eu and eastern regions to all come to an agreement on decentralization. It all comes down to whether kiev will allow some sort of decentralization to the region, especially the eastern region. The Saint PetersburgEconomic Forum is scheduled for may 22 through the 24th. Several american businesses have said they will not attend. Among the big names who say they wont go visa, alcoa, pepsico and conoco phillips. Saying theyompanies will attend our caterpillar, boeing, Morgan Stanley and Goldman Sachs. What is at stake for those who stay home and for those who go . The Saint PetersburgEconomic Forum is a very important bellwether to see where our Foreign Investors ideas and where did they see investment in russia moving forward . A certain amount of u. S. Firms were expected to stay home from the same petersburg economic u. S. , but there are many and european firms phil going. The guest list is fairly substantial, some of the largest firms in the world going in which president putin himself will be hosting these Business Leaders and investment firms. There is increased tension on the rhetorical side against the eu and the businessmen are not showing they are not that unfriendly toward russia at the time. Good to see you again and get your perspective. Thank you for your time. Up next, fcc chairman tom wheeler is in the hot the this week as commissioners plan to vote on Net Neutrality. Will the open internet rule . We will get the lay of the land when autumn wind continues. Wind continues. Facing criticism from the Tech Industry and congress, tom wheeler is tweaking his plan to allow for fast lanes on the internet. The changes come head of a critical vote on the proposal that were thursday. Peter cook is here with me in new york with more on this story. We are talking about modifications tom wheeler is making because he faced intense criticism when he first put this proposal out there not only from the Tech Industry but democrats within the federal Communications Commission who worry his proposal for open internet rules would in fact put Net Neutrality in depth in jeopardy. There are others who would be in the slow lane and that is the kind of discrimination that should be allowed. Our understanding is the chairman has tweaked his proposal that would still allow perhaps for the possibility of the content but the business test for allowing these kinds of deals to move forward would be a samehigher test and the time, competitors get the same short of deal. The proposal would put up the idea and ask for Public Comment on the notion of separately having the fcc classified internet traffic as basically a public utility. That would mean a huge regulatory change. That would be the stick out there. This is the reality down the road. Until the vote. Is he going to have the votes he needs . Enough pushback from members of the commission when he first put the proposal up there, not just from republicans who dont like Net Neutrality at all, but democrats who felt it went too far. It did not insured neutrality Going Forward. Dealing with the commissioners and their and they need three votes. Three democrats are the people to watch here. Somehave expressed reservations here. Inis this going to end up court . This will probably end up in court will stop every time they tried to tackle the issue, thats the challenge. He has to set aside these critics and satisfy the courts and the eagle challenges. A difficult challenge for fcc chairman facing a lot of flack right now. Peter, thanks so much. 26 minutes past the hour, that means Bloomberg Television is on the markets. Alix steel is standing by with details. Here is where stocks are trading we have the s p and dow both at record levels. The s p up there by. 1 . Traders looking at 1897 as the next level on the upside. Industrials, tech and materials, those names are down. Most of that reflected in the nasdaq, up 1. 6 . First is this guy broadcasting some assets of 21st century fox. They already own a third of these guy be. Thats according to people with knowledge of the matter. Inll be back on the markets 30 minutes. More autumn line on the other side of this break. Welcome back to the second on of bottom line Bloomberg Television. Lets check the top stories were following this hour. A new video from the boko haram terrorist network purports to show dozens of did that schoolgirls covered and praying in arabic. Its first public sighting of the girls since more than 300 were kidnapped on april 14, exactly four weeks ago. The video was received by the Associated Press and came through channels that provided previous premia messages from the group. They vow the end the objective rules will be did taint until imprisoned militants are release. The u. S. And europe are offering to lift oil and banking sanctions on iran and turn for limits on the Iranian Nuclear program. The goal is to have a deal by july. The Washington Monument in washington dc reopens today after being closed for nearly three years. The one hundred 30yearold monument has been closed since it suffered widespread damage in the august 2011 earthquake that shook the east coast. The repairs for the marble statue 15 million. Thats a look at the top stories at this hour. Goldman sachs at sign gang member staying out of prison. The wall street giant which reported net income of 2 billion in the First Quarter is putting in 21 million to help a boston area nonprofits dear young people away from a life of crime. Onre is a fascinating piece bloomberg. Com and the author joins me in the studio. This is very compelling and this is not your typical wa