Executives at both companies concluded the merger would not fly. The founder of a Technology Consulting firm says regulators are out of touch. I think the government is Old Technology and an old point of view. I think the f. C. C. And d. O. J. Have shown there are anachronisms when it comes to dealing with new technology and that kind of progress. Mark on wednesday, officials from the federal Communications Commission told both companies they were opposed saying the deal did not help consumers. They plan to call an administrative hearing which would have dragged the process out for months. The british trader blamed in the flash crash is still in jail. He has not come up with bail which was set at 7. 5 million. We are learning more about the trader. In an email last year to british regulators, he defended his rapidfire success has the benefit of a quick mind and that the trade secret we canceled were simply because he changed his mind not because he was engaging in illegal market manipulation. He has not spoken publicly since his arrest. But his former employer spoke to Ryan Chilcote in an exclusive interview. Ryan filed this report about his conversation with the founder of the trading firm where he once worked. Ryan there are a couple dozen traders still here even though it is friday and late in the day. Let me tell you how it works. The traders here pay a fee and a portion of their profits to help the right to avail themselves of the resources here. That is exactly what saroa did. He was working here for the better part of his 20s up until 2008 when he decided he did not want to share any more of his profit. I caught up with the cofounder and he remembers him very well. He was one of the rock stars here and a guy who stood out. If he is found innocent of the allegations he will be the world superstar trader. He will be the most famous trader in the world. Ryan he does not buy the idea that he would have been trading from his family home. It is not possible in the trading environment we have these days to do those kind of volumes from your own home. He must have been somewhere else. Second point is he does not believe one man could cause the flash crash. He could have contributed, but he says there would have been lots of contributing factors. Finally, i asked, does he think he was cheating. He points out the vendor navinder was trading between 2009 and 2014 after he left futex. He says he does not know for sure but he can say this was one guy who was so talented in his trading prowess that he did not need to cheat. Ryan chilcote bloomberg in england. Mark that is a look at some of the top stories we are following on this friday. European Union Finance ministers and greece remain deadlocked on an aid package for the country. The greek finance minister met with his counterparts today. The ministers shut down his attempt to find a shortcut for the release of the bailout money. Hans nichols has this report. Hans nichols frustrations world over in the meeting here among finance ministers trying to figure out and get a status update from the greek government on where they are in committing to the agreement where they said they would commit certain reforms. In some ways, the biggest casualty is time lost. We have heard that again and again from finance ministers coming out. It was a critical conversation taking place. Listen to how the head of the eurogroup couched the tops. It was a critical discussion. We came to an agreement two months ago. Today, we had hopes to hear a possible agreement on which we could take a decision. We are still far from that. Hans nichols according to some in the meeting, mr. Varoufakis received a hammering. It was quite tense at several moments. Coming out of the meeting, mr. Varoufakis said they had made some progress and had constructive talks. He was about the only finance minister to make. Throughout, there was a consistent line that greece needed to do more, more quickly, and implement reforms because time is running short. Back to you. Mark the senate is expected to a proven oversight bill that would curb president obamas discretion to waive or terminate sanctions on iran. What impact could this legislation have on talks to reach a final nuclear deal with the run . With iran . This is a big deal and the timing is interesting because senator bob corker had pledged early next week he will be bringing to the floor his bill which passed through committee easily. This is the Iran Nuclear Agreement oversight bill. That would give congress the right to give a thumbs up or down on the ultimate deal the Obama Administration and five other powers may make with iran by the end of june. The timing is also interesting because it is happening at the same time Iranian Foreign minister will be meeting at the United Nations in new york early next week with some of the political directors. He will probably have a meeting with john kerry even though the other Foreign Ministers are not expected to be in new york for that next week, so talks are continuing. And that bill could have a real impact. Mark does a final deal hands on whether International Weapons inspectors are given unfettered access to Nuclear Facilities . That is a big deal because the preliminary accord on april 2 in switzerland said there would be continuous surveillance of all of irans Nuclear Facilities and access to any suspicious facilities including possibly military ones as part of the final accord. As we know, the United States has said they want anytime anywhere access to anything iran might be doing that could be suspicious. Now as the talks have resumed in vienna, theyve started drafting the accord. We know this will be a major sticking point, whether iran will give access to military sites and whether it will be as unfettered as the United States and partners have demanded. Mark the u. S. Israeli dynamic cannot be dismissed. If the nuclear deal between iran and world powers is consummated, will the relationship, that alliance between the United States and israel, will it be broken to the point it cannot be repaired . I certainly hope it wont come to that. I think everybody in washington feels that way as well as in tel aviv. There was an interesting bloomberg column by our colleagues that pointed out a pack, the american israel Political Action group, that they are lobbying against adding amendments that would make this bill tougher, which is interesting because you have some proisrael senators on the republican side who want to make this oversight bill tougher. And they are worried that those amendments will get it not passed by democrats were vetoed by the president. Interestingly, they want to keep the bill more simple so if the deal is not what israel agrees with, it is Something Congress at that point could weigh in antiobamas hands and tie obamas hands in july. Mark if a deal is not reached who gets blamed . America iran, israel, or Congressional Republicans who do not trust the iranians . That is an excellent question. I think the blame would go to all four quarters it just depends on what perspective you are looking at it from. It also depends on how it ends. If the United States is forced to walk away or goes against what allies want, it would get the blame. Barring that, i think if the United States and its negotiating partners stand firm together and iran refuses to give in, they would get the blame. The issue is it is more likely than not that we will get some accord at the end of june or beginning of july. The question becomes what happens in congress. At that point, Congress Might get the blame if it gets scuttled in washington. Mark thank you very much. We have breaking news. Charter communications reportedly reaching out to buy Time Warner Cable. Lets go to the breaking news desk and scarlet fu. Good afternoon. Scarlet good afternoon. We understand Charter Communications advisers have approached Time Warner Cable on a potential deal. This is not confirmed by the company yet. This is based on our reporting. They were said to have approached a potential deal. Executives have not held discussions but have made the first step toward reaching out and holding conversations. You are seeing an Immediate Impact on Charter Communications shares and Time Warner Cable shares. Of cable getting a big lift on those headlines, currently up 5. 6 . The back story is Charter Communications has reached out to try to acquire Time Warner Cable and failed because comcast came swooping in and made its own bid, 45 billion, for that company and won the approval of Time Warner Cable. In the end, regulators prevailed and that did not happen. Charter is making another run now. Charter advisers said to have contacted Time Warner Cable for discussions on a deal. Mark scarlet fu at the breaking news desk, thank you so much. Next, another look at the days top stories. Alex sherman will join me to talk about the next step for comcast now that the bid for Time Warner Cable is dead. That and more when bottom line on Bloomberg Television continues in a moment. Mark welcome back. Lets continue our coverage of the news that broke moments ago. Charter has reached out to Time Warner Cable now that comcast has backed out. Alex sherman broke the original story yesterday and joins me. That did not take long, did it . Alex sources are telling us charter has reached out to Time Warner Cable at the of pfizer not the executive level yet. But the speed is a surprise. Not a surprising content. We have been saying charter is likely to try to make a bid for Time Warner Cable. What is surprising is the wheels are already in motion. We have learned charter has reached out for financing from banks and are trying to figure out with Time Warner Cables bankers how much it will take how much cash, stock, the price you are looking for. We heard from one source Time Warner Cable is probably going to ask for a price higher than comcasts price of 159 a share. Time warner cable before we broke the news was trading at about 151. We will see how much higher that needs to go. Mark charter, time warner, what do both bring to the table . What do both have to benefit from . Alex the biggest thing they have is the lack of regulatory approval. That is the number one thing going for them to charter is a much smaller cable the less companies and Comcast Charter is a much Smaller Company than comcast buying a larger company. When you talk to the Liberty Media people who own more than a quarter of charter, charters strength is operations. Tom rutledge is known to be one of the best operational managers in cable. The theory goes that charter could run time one of cable better than Time Warner Cable can. That is what Time Warner Cable pushed back against when charter try to go after Time Warner Cable in january of 2014. They said we can do this ourselves. They then sold to comcast. The idea is a Time Warner Cable sold to comcast, all their employees have been operating for the past year plus that they were gets old maybe the writing is the wall and they have to get sold to charter. Mark give a merger collapse because lobbying efforts failed . Alex to some degree absolutely. From a business standpoint, they had a great argument. That is why many analysts thought the deal would go through. The political environment turned against them. In part, that has to be blamed on lobbyists and the p. R. Message that they were not able to frame this in a way where regulators were able to approve. If charter and comcast have worked together to buy Time Warner Cable and charter had sold subscribers off to comcast, new york and los angeles the markets they wanted, eventually the deal would have gone through because the headline would have been charter buys Time Warner Cable and does deal with comcast instead of big bad comcast buys Time Warner Cable and then does a deal with charter. Mark the big winner, is it the internet Video Industry . Alex they are absolutely a winner to some three. Some degree. I suppose charter is the other winner if they can pull off the deal. Companies like facebook showed they have a lot of clout in the Obama Administration. Mark to move at Time Warner Cable today the mood at Time Warner Cable today, what is it like today . Alex mixed. Some people are happy because they still have a job. If charter were to buy Time Warner Cable, chances they are would be able to keep their jobs because they have blessed less redundancy. Senior Level Management had already in their minds spent their severance money. I have heard that from several people at Time Warner Cable. For those people, maybe the mood is not so good. Mark now that comcast has abandoned the bid for Time Warner Cable, how might this affect current and future merger deals . Alex the big want to talk about is bright house. Charter may be able to use the bright house acquisition, which is in doubt at this point, as a chip to buy Time Warner Cable. s charter keeps bright house they will have a larger Balance Sheet to borrow against. The combined charterbright houseTime Warner Cable company will have less leverage postdeal because Time Warner Cable wants some cash from the deal. They have a concern with how indebted the new company will be. If you add bright house, mostly stock deal, you have a larger Balance Sheet. You have a Bigger Company with more borrowing capacity. Mark combination of directv and at t is that going to go through . Alex i think that is an outside thing that does not have to do with a band. From everything we hear, that is on pace to be accepted by regulators. Mark alex sherman, you broke the story yesterday. Congratulations, nice job. At 2 20, we will get a check of the top stories. 2 30, the hockey legend joins me to discuss the stanley cup playoffs. At 2 45, the best of the week on bottom line. We will be right back. Mark welcome back. Breaking news. The statue of liberty is being evacuated. New york police are responding to the report of a suspicious package. The Police Department said it had votes at the scene along with the National Park service. Visitors are posting funds online showing hundreds of people being herded toward a ferry landing. Tourists said they were taken off boats while trying to leave nearby ellis island. Those vessels were used to evacuate liberty island. Stay with Bloomberg Television. We will have more on this breaking news story as soon as we get details. Silicon valley has been criticized for lack of diversity. Sheryl sandberg says companies have to be convinced it is a worthwhile goal. Sandberg spoke to emily chang in an exclusive interview. I think what will really motivate business and companies and organizations to take diversity seriously is when they realize not taking diversity seriously is harming their performance. Mark for more of emily changs exclusive interview with Sheryl Sandberg and Richard Branson tune in tonight for a special balancing act, the conversation on work, family, and life and whether you can have it all. That airs tonight at 8 30 new york time on Bloomberg Television. Lets get to other top stories we are following on this friday. Mylan went forward with a hostile bid for fellow drugmaker perigo taking the offer directly to shareholders rather than accepting a separate takeover proposal. It argues it is not as high as it seems because mylan stock has been inflated by tevas takeover offer offering to buy it for 40 billion this week. Hsbc says it may move its headquarters out of the u. K. The reason, rising tax and regulatory costs. Hsbc could end up in hong kong, a logical place since the formal title is the hong kong and shanghai banking corporation. Politics may be involved as it is less than two weeks before the british election. Hsbc might be trying to pressure politicians. John boehner says Hillary Clinton is a g