Of true detective. We have hit a milestone in the economy. American companies have shaken off the great recession. Fridays jobs report shows the number of private sector jobs is now higher than the pretty recession peak. The prerecession peak. Mike mckee is joining me, we should be celebrating . The 192,000 jobs we got friday put us 110,000 over recession peak for private sector employment. In january 2008, it has taken us this long and recover. It is only a partial celebration. The economy would have kept growing had we not had the recession and there would be even more jobs. Sequester, the government has been cutting jobs or keeping them at an even pace. Who in the private sector is hiring . Exactly where you would think. The story of the recession so far has been mining and logging. Mining has jumped for 21 . North dakota and those places where they are exploring for oil. Education and Health Care Services hired throughout the recession. Professional services, this is interesting. A lot of companies are still relying on remps relying on temps and may never go back to fulltime employment. The obvious losers are manufacturing and construction. 20 of construction jobs went away. Even with all the construction hiring we have seen over the last year, they are up only 3 over that period. How does this fit into the feds view . Only do not get a surge, 190 2000 jobs. Some things janet yellen said she was looking at, the Participation Rate rose, that is good. The number of job leavers was unchanged, the number of parttime workers rose. They want to see that continue to fall. There are still some bad signs in the economy. Look at the number of people who have jobs and went to college and those who only went to high school, it is a massive difference in terms of the unemployment rate. We still have a problem with unemployment for minorities. The rate for blacks and hispanics is way above the rate for whites. Thank you so much, mike mckee. Despite the signs of life you just talked about in the jobs market, Senate Democrats try again today to pass an extension of emergency jobless benefits. That would affect more than 2 million americans. A handful of republicans are on board, but will this past the house . The details. S they have the votes in the senate. They have the votes. They have been trying to do this since december. You recall the fight to extend the emergency unemployment benefits. Now it looks like they have enough republican votes in the senate to get it done. The question remains what is going to happen in the house of representatives . Could this change in outlook there . This latest proposal is bipartisan, comes from a democrat of nevada and a. Epublican of unemployment high and both of those states. The benefits would be reauthorized through may. Two. 2 million americans could be eligible. About 10 billion and it is being paid for by changes to Company Pension payments. It boosts companys taxable income. Republicans were insisting this be paid for in full. In a procedural vote last thursday, the measured received 61 votes in the senate, a sign it should prevail today and the senate when it comes up for a final vote. Several republicans, in addition for this, voted saying now it is paid for it could be justified. House leadership remains skeptical, specifically john boehner. What about the chance that this passes the house . There is a chance. The question here is does the senate vote put more pressure on the house . John boehner has said it has to be paid for and matched with other provisions that promote jobs. The nevada, republican, says he is hoping to sway the speaker of the house. They have their issues and their prerogatives. I have told my staff get me a meeting with Speaker John Boehner and we will see if we can figure out what would motivate them to move this piece of legislation forward. No words yet on dean heller getting to sit down with the speaker of the house. Is in theon mark house of representatives, it may be a longshot, particularly jobs numbers. The emergency extension is no longer needed according to many republicans. Peter cook, chief washington correspondent. Moving and shaking this hour, speaking about jobs one very big one. Goldman sachs ceos were going fine Goldman SachsCeo Lloyd Blankfein will get a 6 million bonus if he meets certain targets. For the second straight year, blankfein was the highestpaid ceo among u. S. Banks. Goldmans stock rose last year with an 11 return on equity. Street,nings on wall how much these guys take him gets more attention. Sallie krawcheck is a top woman on wall street. Former ceo of sanford bernstein, smith barney, city Wealth Management and has been a Top Executive at bank of america. Now the owner of 85 broad, advocating for more women. Are you tired of talking about bank ceo pay . It seems to be a topic of great interest all the time. What annoys you . Hearing it over and over. I would not say annoyed. I think we get caught in the numbers. This guy made this much and that guy made that much. It is only of passing interest. We should be having conversations about the structure and drivers of pay. Bank Senior Executives are really paid around how the shareholder does. In the mythical land of unicorns and fairies and flowers, shareholders hold stock for years and years i have a longterm perspective. In the real world, shareholders are shortterm. We should be asking the question about what the motivation is to drive longterm value, not shortterm value. Do you think we are getting it right with incentives on wall street now . How much further do we have to go . Were very focused on the shareholder. If you were a corner bicycle shop and you made the wrong decisions on your business, shareholders urge you to over leverage and you go out of business and then the ceo of the bicycle shop and a couple bicycle riders are hurt. With banks, if the stakes are made it is not just shareholders, it is the entire economy. Banks have a greater responsibility and power than other businesses. To make the management liable . To make the right decisions. Those decisions are not necessarily what is best for this quarter. We should not get this quarters earnings up. Up pretty fast. With all the stress tests, there is a tension about wanting to reduce equity to get roe up. Bit of change. We just mentioned Lloyd Blankfein and some of the incentives. 6 million over the next three years. It sounds like there is a little bit of an attempt to try and put in some under term targets. The regulators, the Senior Management recognized the need for longterm perspective. The real question is will the banks still lever, even after the progress we have made, where is enough . How safe is safe. The two big issues are regulation and ceo pay. Paychecks on wall street in general. You see people leaving banks. Just the other day, Rafael Ferrera is leaving jpmorgan to go work for green hill. Sachs to me, goldman go work for green hill. It seems to be a flood of talent that continues to lead these wall street banks until you have the paradigm in shape. There has always been movement through the banks. Have neverw was you seen a 70yearold investment banker. It was a Young Persons game because of the Energy Around it and the hours required. The question is if we have tipped too far. And some of these banks it is not a ton of fun anymore. No one feels sorry for them or needs to feel sorry for them. With additional regulation comes additional bureaucracy. There are fewer degrees of freedom. You talk to a lot of young people, do they want jobs at banks . Down at Wharton Business School a few weeks ago, and increasingly the answer is yes. These are young folks who do not have the memories of some of us. Some have not even used blackberries. Banks are hiring, markets are going. What is interesting is you are still seeing more gentlemen going to wall street than the ladies. Is an ageold issue. We will be got to talk more. My guest host for this hour. Coming up, we know how the teams made it to the final four, what about the stuff you need to put on a basketball championship. Who delivers the goods for those guys. Twitter was burning up for the debut of the new season of game of thrones. We are just Getting Started on this monday morning. You are watching in the loop, live on Bloomberg Television, streaming on your tablet, phone, and bloomberg. Com. Michaelg the release of lewis flash boys, highfrequency trading has come under scrutiny. The fbi has launched an investigation. Mohamed elerian is weighing in. I do sit occasionally at the is a ripoff oft the consumer. If you watch the stock and how bid, before 60. 22 you can put an order in, that disappears. They should hold firm for a period of time. Were joined again by Sallie Krawcheck. The former Top Executive at Merrill Lynch and citi Wealth Management. As well as now the owner of 85 broad. Sallie, is it a ripoff . Way Michael Lewis writes, it sounds like it is. He has done a great service, he is a talented individual bringing attention to an arcane area of finance that most people do not understand. He has presented it in an understandable way. Now let the debate rage. The debate is raging. Some companies are getting hit by the accusation. I know you are on the board of motif, an online Brokerage Service as well as other things. Is it fair that this is happening to them . The market will determine that, that is what a markets p ole is. Is this a big deal for the organization, are they going to lose clients ormone money . It is hard to argue against the this being shined on thing. I always used to ask the question what are the things that are going on within the business and within the industry in thee participants industry know about, the regulators and reporters know about. This is opposite. I do not agree with that, everybody knew highfrequency trading was taking place. Everybody knew there were coils of fiber. Dark pools. Sure, i am sure you are talking about this at some point. To really walk people through it and feed on the front of the wall street journal and say how does this sound. These are shades of gray, it is not black and white. The problem isk, that it is to get to the base of is saying. L lewis if you have the technology and are privy tou prices that the rest of the population are not. Elli says,ab youre getting ripped off. You have always had people trading faster than other people. They price is different on another market. If that takes an hour to revert itself versus microseconds, where do you cross that line. Were havingebate today. For a retail investor, and everyday investor, what motive is trying to get out. Isnt that just going to scare them even more away from wanting to be in the market . Is it going to make something even worse of wall street . Also that the markets are rigged against them. T that. Le have though theyre a few different ups and downs we have had is that the market is rigged. And there are trillions of dollars on the sidelines. Although investors are coming back, but individuals are under saved for retirement, need to take on some risks to do it. I am hopeful for those individuals who should be investing that this is not something that is holding them back. They should still be in there. The individual investors should not be trading leg banshees. Like banshees. They should choose a good Asset Allocations, put their money there, and adjust occasionally. What do you tell people . People must, to you and say what do i do about investing . Should i be invested in this market . What would you say . I dont know that we have a lot of individual investor market time. We do not have a lot of Institutional Investor market time. You see the performance of some of the active managers. The answer is there are very few free lunches and investing. Awfully close to 1 is a strong Asset Allocation that works for a reason. It causes you to sell your winners and by your losers, rebalance over time. That is a winning treasury. People look at Warren Buffett and say he has bought holds for so long, the worlds third richest man, maybe i can do that as well. Sallie, thank you, youre going to stay with me. Sallie krawcheck. Formula one is not exactly racing to the internet. What is proving to be a roadblock for formula one. It is captain america to the rescue, record business at the box office. I got dragged by my kids. Stay in the loop. Watching in the loop, live on Bloomberg Television and streaming on your phone and bloomberg. Com. The top headlines. More troubles for general motors, a recall of nearly 7 million vehicles have wiped out more than 3 billion in shareholder value in the last month. Gm shares, which climbed in 2013, have slumped 7. 6 since march 7. Iformation in the Neiman Marcus hack attack, the hackers belong to a Russian Group of cyber thieves. They have stolen more than 160 million credit card numbers from a variety of retailers over seven years. Neiman marcus is their latest target. Captain america said a record at the box office. Millionin more than 96 , a record for april. The epic noah tumble to second place, taking only 70 million in its second weekend. Captain america over the bible. Liberty is on the markets. Alix steel has your look at all the action. Captain america was good. Futures continuing to decline following europeans stocks lower. 1 . Asdaq is off by on friday, it fell to its lowest level since 2012. Gold futures paring some of those games as investors speculate what the feds next move will be after the march jobs report friday. For more on the commodity, greg joins me in new york. Chris, director of Portfolio Management at okemos capital at Alchemist Capital from the cme. Whats driving gold . Interest rates are going up over the last couple days not so fast, we cannot get the 10 year yield over 2. 8 . Now we have the equity market starting to selloff. Fundamentally or sentiment wise there is a bid going into the metal. Are you as optimistic question mark what is your trade when you see gold off by five dollars . I think that gold caught a allon the pullback risk situation last week. We are accumulating around 1300 and setting up a basement level around 12 dollars . 80 around 1280. We think that will revisit march highs around 1350. In real terms, the price of itd is quoted in how much costs to buy an ounce of gold. They trade in context of 100 ounces each. If you buy gold futures and it makeup 100 an ounce, you 1000 for every contract you buy. One negative Chemical Department one negative in the gold department, as we see the stock market around record highs despite the recent selloff, wont that put stake in gold . I think the reason to take a stake in gold is not for that 10 move we are looking for on our trade desk. India and china are still alive, the dragon is still breathing hot fire. Offrowth, maybe that goes 2 of what was years ago. But traders believe that chinas and indias demand, gold is continuing to outflow there and that is a bidding war for traders as far as revisiting the 1400 level in gold. Is demand really going to be responsible for driving gold . We are focusing less on the demand side and more of the price action. We have momentum that was bearish for the last several months shifting up to the bullish side. Shorterterm we are seeing more Speculative Movement coming to that metal. Without physical buying, how fickle my speculative buying be . Traders are looking at shortterm moving averages to look for an early sign that the demand steps away. Time for our futures word of the week charting. What is it and how would you use it for gold . Charting, or price based or Technical Analysis uses data to look at past to figure out what is going to happen in the future. It is popular in the commodity. And Foreign Exchange markets. Timing is key. Charters identify a trend, is gold going up or down, they tie the markets, when do i get in. Then they manage their risk. One is the chart telling me i am wrong . Thank you so much, on the markets again in 30 minutes. Thank you so much, alix steel is on the markets. Speculation and super pac support for Hillary Clinton is running high. She would not confirm or deny anything just yet. Is there any other job you would be interested in . [laughter] [applause] comptroller of the state of illinois . Not right now. Ok, we are back with Sallie Krawcheck. Are you for a hillary run . She does. What a qualified individual. The most anticipated president ial run one of the most. In history . Obamas was pretty this is years in the making. She is obviously very qualified. Whether she would win, who knows. What a great race. What do you hope she does different . But im trying to put you in the seat of a political analyst. What do you hope she does differently this time that she did not do in 2008 that made her less appealing to women voters . I think what she discovered during the course of the campaign was how to really connect with individuals. Particularly with women. Womene learned at this as executives over time. You do not always have to be so buttoned up and on message. There were a few points in the campaign where she really connect with people deeply. She did. You speak with a lot of entrepreneurs, women and men. They talk about in washington these things need to change and there needs to be less gridlock in order for me to create jobs and grow my business. And the whitever house, it is a fresh face, whoever it may be. What do Business People want out of washington . Whereood example of washington can work effectively as the jobs act. The opening up of the mar