President obamas immigration order. We begin in brussels, where hans nichols has new development in the greek bailout crisis. Good evening. Good afternoon to you. According to a person familiar with the matter, greece is planning to ask for an extension of its bailout loan program for six months. Remember, the deadline is that they would leave the program at the end of this month. They have still not agreed to the conditions, which is key and important, the finance minister has made it clear that the decision is for greece. Greece, represented by its democratic elected government has to decide what it wants. I cannot extend something that the country does not want. That was from earlier this afternoon when talks basically fell apart. They collapse last night and there is no effort to put them back on track. Earlier today he told the hardline and he does appear to have all of his finance ministers united behind him. The 18 euro area finance ministers say that greece needs to abide by its reform package if they want to stay in the program. Crucially if they want to keep access open the funds. If there is an agreement, what happens next . You would have to hammer out the details and then they would have to go to all the individual National Legislators. That is why friday really is the dropdead deadline. They would have to have all the agreements on friday, it would have to be approved. Germany, for example police said that it needed to get done on the 27th or 26. Remember, if any one of those National Legislators in object, greece would be left out in the cold and without a bailout protection. Mark . Mark hans nichols, reporting for us this afternoon from brussels. Stocks are rising in the s p 500 index to a record on speculation of a greek bailout extension. The s p 500 rose above 2100 for the first time and it is right now at 2100. The chairman and chief executive officer at cumberland, plus the chief monetary economist, are with us. Welcome, gentlemen. Hans was just reporting from brussels on the latest in the developments that greece. The german finance minister says that it is time for greece to ask for a bailout extension and until that happens eurozone finance ministers will not meet to discuss help for greece. What is the next move . This is another chapter of pretend and extend. There has to be some resolution of a debt that is too large for this population. And how to do it and reach it with a frontage that does not stop economic growth. It is an impossible task. They tried to reach an agreement. They came to the 11th hour and 59th minute for they reached it. We are going to see it all over again. Can this be done without the backing from germany . The germans are alternately going to have to step up. They do not want to see the greek problem that they are facing and it is a game of chicken at this point. Mark a political game of chicken . Is this a showdown between the new greek government and Angela Merkel . It is beginning to look that way. I would agree. You have an issue here in that you have a political process in greece where you cannot take the austerity and they have elected a government on that basis and that government can negotiate. A great deal of the recycled funds are to repay the existing debt already. You might argue that greece has stronger negotiating power now because they know that this is not so much new money as recycling money. The finance minister of malta says exactly that the dispute is political. Or is it about the eurozone simply wanting greece to stick to the terms of the original bailout that they agreed to regardless of the fact that there is a new government in place and that that government has for all intents and purposes a mandate from its people . I think so. How do you get people to pay when they are unable to pay . You can have all the terms and conditions that you want and the fact is that if you cannot pay and do not have the cash you have to either advance more money in turn things around or they do not pay you. And if they do not pay, they must default . It is the old mine. Give the old man 100 in you are his slave and the other way around. Mark does the eurozone want to reach an agreement with greece . I have to say i have to say that there is chatter that they do not and that they are throwing their hands up and saying how often do we have to keep going through this . Suppose that greece launches hyperinflation, all the things that happen when the society goes down and the Banking System struggles and the other 18 of them say i have got to change my behavior. The lid just went on the cookie jar. Maybe that could make the eurozone, the remaining eurozone stronger. Mark what about the ecb and quantitative easing . It could solve the structural problems. I dont think that it solves structural problems at all. They are structural and fiscal. The ecb printing money is not going to deal with those issues. Thats another dimension of kicking the can down the road. Mark does this help them return to solvency . One dollar trillion is a large sum. The fact is i dont know if it does much for greece. It means a lot for our markets. When you suppress these Interest Rates like this you suppress Interest Rates worldwide. Here is the u. S. Paying a country at a 2 yield . The highest in the g7, the strongest currency . Banks and the other part of the world and in the u. S. Are going to come to the equality. Mark you talked about those who wanted to audit the u. S. Federal reserve and you said perhaps they should start auditing the u. S. Senate where the ratio to blustering to action confirms we are suffering a National Political intelligence deficit of alarming proportions. I told you that when i saw you earlier, you should not hold that back. Tell us what you really feel. I love it when you talk dirty. [laughter] this business of auditing the fed is a political sham. There is nothing to audit. Are you going to count the treasury bills and finding are not there . Their books are transparent. If they want to debate policy what should the Interest Rate week on how it should be implemented and what the reserves should be, that is legitimate. Auditing the fed is a political hype machine. Mark we just received word that one of the fed president s says that he thinks that they should drop the word patient at the march fomc meeting. Is it that time to drop that language . They want flexibility. They want the option to make decisions as the data flows in. At this point cutting the words or not cutting the words it really is more directed towards observing the option and i do not think that it tells us much about the timing of the policy move and when it will take place. We think that anytime towards 2016. There is no way to know. Mark david, gentlemen, it is always a privilege to have you on the broadcast. Thank you. Mark there is a new twist in the executive action over immigration. A federal judge in texas has temporarily blocked the orders for 5 million undocumented immigrants. Peter cook has more on the decision and its implications. Peter, how big a blow is this to the Obama Administration . Or is it . peter those who support the president see it as a temporary setback. But they are confident in their legal position. Outlined in a decision from judge andrew cannon, it blocks the administration from teasing deportation for as many as 5 million undocumented immigrants. 26 states that are left challenge the action, saying the federal government was abdicating its responsibilities. A george w. Bush appointee wrote in his ruling here that the job of the dhs was to enforce the job past but no statute gives them the discretion that they are trying to exercise here, so his order bars the administration from carrying out the executive action until he issues a final ruling on the lawsuit. The white house responded this morning by saying that the District Court decision wrongly prevents commonsense policies from taking effect and the department of justice is indicating that they will appeal the decision. Eric holder in washington says that he thinks this is an interim decision by a single federal judge in that this will be a longer process. Supporters also pointed out that other judges ruled in the president s favor in december they call this a common injunction to be lifted on appeal, but right now the judge in texas . Is decision rules. Mark what does this do to the fight over Homeland Security funding . Peter it could potentially ease the fight, but that is not clear that it will happen. Republicans said they would not fund the department unless those actions are rolled back. They could put an end to the standoff over funding and look to the courts for relief but so far the public reaction has been the opposite their position has been to dig in their heels even more. Mark all right, peter cook thank you so much. We will head out to the west coast of the United States and tell you why cargo ships are sitting idle with millions of dollars in goods sitting on board. My colleague will give us the details when bottom line continues in just a moment. Mark welcome back, it is 50 minutes past the hour. The ukrainian ceasefire is being ignored in one part of the country. Prorussian rebels have claimed control of the key Railroad Junction where thousands of ukrainian troops are holed up. Ukrainian say that 300 Government Troops have surrendered. It was just a few days ago that all sides agreed to pull back heavy weapons from the front lines. The leader of egypt is calling on the United Nations to get rid of those get rid of islamic street islamic extremists its a lot islamic extremists in libya. This was after they killed over two dozen coptic egyptian christians. They said the next step was creating a u. N. Backed coalition. At least 20 were killed in the capital of haiti after a man on top of a carnival float was electrocuted, setting off a panic. The accident occurred as thousands filled the streets of downtown portauprince. That is the latest world news we have another update coming up in half an hour. The president s top labor official is in california to try to settle a heated labor dispute that has all but shut down west coast ports and halted the movement of billions of dollars in cargo. Shelby holliday is live in long beach, where operations came to a standstill over the weekend. What are you seeing on the ground out there . Shelby you can see this huge ship behind me and we see dozens of these babies sitting idle, waiting to be loaded and unloaded. To get a better look at just how much stuff has been suspended at sea we went out on the water yesterday and the containers look like legos from far away but when you get up close they are massive. 140 foot container can hold 130,000 pieces of clothing, 60,000 toys, or 1500 autoparts. These ships are Holding Thousands and thousands of containers. To give you an idea of how much stuff is out there, if you take a look at the top imports you have got furniture and autoparts apparel electronics, footwear, acute Ripple Effect across the u. S. Economy impacting a number of industries. Speaking of the Ripple Effects, what is the economic toll like . The National Retail federation says a west coast port shutdown would cost 2 billion per day. Automakers havent hit pretty hard. Honda Just Announced they were cutting u. S. Output because they could not get the present needs to the manufactured cars. Anyone Manufacturing Electronics is facing an electronics shortage. There are all kinds of Different Industries impacted and if you take a look at the bigger pictures the 29 ports from seattle down to san diego handles 40 of the container cargo in the United States, accounting for 12. 5 of gdp. What are you hearing from the people on the ground . Is there any talk of a possible resolution anytime soon . There is, but there has been talk about this for months now. I spoke to a Union Representative and someone representing the shipping companies, who say that an agreement is close. A professor who studies unions says he thinks that the increased political pressure is going to make a settlement days away instead of weeks. The people are certainly hopeful that they will reach a deal in the near future. Mark shelby holliday, joining us live, thank you. Coming up, hackers are targeting your medical records and we will tell you how you can protect yourself. Market welcome back. Hackers are increasingly going after your medical records. The attack this month on anthem is one of the biggest examples. Shannon why do hackers want medical information . Shannon it becomes very valuable on the black market. A lot of people think about credit card numbers and Social Security numbers but your medical information is actually 10 times more valuable. Here are a few things that they can do with it. Medical identity theft. They can take your Insurance Information and sell it to someone without insurance, sell it to a hospital and pretend they are you. Sham companies can start up and do insurance fraud. They get your information and then bill medicare for a wheelchair that you never bought, for example. Then there is the secret world of statesponsored Corporate Air espionage. They may be looking for particular information on a persons health. Maybe a politician, trying to get Health Information that could somehow be used against you for black mile. Blackmail. Mark how widespread is this . Shannon hackers used to go after banks, businesses retailers, targeting all of that. We had 300 Healthcare Companies hacked in 2014. You can see the break the breakdown in the sector. We had 300 attacks last year which was just 16 in 2000 eight just a few years earlier. It really has shot up. 41 Million People had exposed data in 2008. Mark the people at home have got to be shaking their heads. Im to feed feel away from you, i cannot believe what i am hearing. I am two feet away from you and i cannot believe i am hearing. Now with mobile devices and people doing a lot of their stuff on their mobile device it seems that this is just another entry point for people to get this information. Shannon i spoke to a security analyst who works for Different Companies and he said if you can get to it on a phone, it can be hacked, and he said that health care is just find other industries. Banks and retailers have been worried about this for a while because your credit cards have been so sought after. Healthcare companies have not been targeted by these sophisticated and in some cases even statesponsored hackers. Mark this Healthcare Information is even moving online, and medical devices are another honorable area. What is being done about that . Shannon like a pacemaker someone could remotely hack into a pacemaker. Lets say you are an important person, like dick cheney who had a pacemaker at one point they could hack into it. Security experts are trying to stay one step ahead of the hackers. That is the game here. It really is just a race, again to see who gets there first. Mark what can people do to protect their medical information . Shannon looking the statement that you get in your insurance quarterly or at the end of every month look at the statement that you get in your insurance quarterly or at the end of every month. Take a look at that. Most people throw it out. If you see something fishy, call right away. If you can catch the theft early, you can put a stop to it. If it goes on for years and years, it will take you years and years to resolve it. You will have to get a lawyer and it will cost potentially thousands of dollars. Mark why does it seem like they are behind the ball on this . It seems like that should be the template when they create this stuff. Why now, after the horses is out of the barn . Shannon hackers have outgrown those updates, they have advanced and we have not. Mark shannon, thank you so much. Coming up, we will tell you how lego rebuild its business one brick at a time. Rebuilt its business one brick at a time. Mark look a mac to the second halfhour of bottom line, on Bloomberg Television welcome back to the second half of bottom line, on Bloomberg Television. Lets check the price of crude oil today. Up one and one third percent, trading at 5348. A shakeup at the starwood hotels. The ceo has stepped down by mutual agreement. Starwoods board says that now is the time to speed up. Burger king posted again in the first quarter. Burger king purchased the canadian coffee and donuts chain, tim hortons. Sales at burger king were up 3 , tim hortons posted a 4 gain. The government is opening the skies to the widespread use of drones. Numerals from the faa would permit Small Businesses to use the unmanned aircraft. Flights would not be allowed out of sight of the operator. Drones could not be used for pizza deliveries or delivering other products, like orders from amazon. That is a look at the top stories this hour. It has not often childs play for lego, the danish toymaker. It saw its value tank between 2003 into thousand seven. It has rebounded since, overtaking even mattel in the first half of last year. The companys president is here with me in the studio. Welcome to bottom line. Thank you for having me. Mark lego group, not far from bankruptcy at one point. Last month you told a group we became a company that did not listen to our customers. Is that not rule number one in business . What happened . Per team much so. We had too many years of consecutive success prior to one decade ago and we had become too introvert in ignoring the needs of our customers. Market what did the Company Learn from its mistakes . Soren exactly what we learned over the last 10 years, it came from really understanding the names of children, making sure that we had products relevant to any ages. Mark did you have focus groups of kids . Sore