This tuesday. It is cold, windy, and nasty. Here the live look outside. Talk about traffic. That is 3rd avenue in midtown manhattan. Snow blanketing the east coast. Forecast calling for for more for more than six inches of snow. Federal offices in washington closed. The storm warning in effect from North Carolina mountains to the massachusetts coast. Things basically shut down in washington on the d. C. , right now. Havee thrilled to alongside for the entire hour, jonathan weil. You are staying warm. You a sweater on. Ofthe news, comes out 1 00, federal offices closed. Storm yesterday was coming. Why is it at 1 00 no one believes the weatherman. Here do not know how to deal with snow. I went to college and folder. They know how to deal with snow there. Here you need to feet of snow to cancel school. Welcome to new york. 14 inches in new york city. Day. Should take a powder talk about. Lot to big news on Bloomberg Television this morning and an exclusive andrview Michael Bloomberg bill gates, betty liu sat down with them. Mr. Gates out with his annual letter talking about his foundation and what he would like to see. There were some pretty big names themes discussed. One of which, poor countries are not doomed to stay poor. We can change that. He said it is overly pessimistic to believe the paradigm cannot be changed. That people can move forward and try to deal with this on a more humane level. He spoke about that today with york. Rmer may your of new lets listen into some of what mr. Gates had to say. The backs are on the side of the optimist. I think it is dangerous people are focusing on the bad news and not seeing the progress you have made. They do not look at best practices. Most people are middle Income Countries right now. Here is more to be done the track record of success, if you do not see that, you will not participate in what we need to do. He said by 2035 we will have no more poor countries, which is incredible. It is not that far away. A lot can be done. I am skeptical that we will not have any more poor countries. I look at the notion of poor countries, and i did not believe that. Foreign aid is a big waste. I do not believe that. Use thatof politicians as an excuse. Instances where you have conservative lawmakers holding up 600,000 foreign aid package. His quote was it is dangerous that people are focusing on the bad news and not seeing the progress we have made. Get in troublee for reporting just the bad news. Everyone should be focusing more anytime we see progress. Another point he made is that saving lives lead to overpopulation is another big myth. That was my reaction. It comes down to kids. We are talking about children and saving their lives. With the right investment, changes in policy, he said every country will have Child Mortality rates that are as low as the rates in the u. S. Or u. K. Were in 1980. Things are changing. There are a lot of stereotypes. Brazil for example. I have spent a lot of time reporting their. There was a thinking that hunger was a problem in brazil. Certainly in cities like rio de janeiro. Back the mayor instituted a program to institute to help with obesity. That also involves changing a mindset. It surprised me. You think of a poor country and poor country like brazil, and you would think they would have the problem of still be suffering with hunger. Fortunately, things are getting better. A country like somalia would not have abject poverty. And aimave ambitions for the stars. Economy has gotten on stable footing. The question, is cynicism Holding People back. It is not that we do not want to get our hopes up too high, but when someone says this will happen by 2035, is the reason to think it does not mean we have to accept that as a prediction. Certainly cool to think about, and we all hope it does. Mark crumpton, good to sit next to you. I have a twitter request. We are going to work on that. Mark ronson, an hour to get him on twitter. We want to know if you think this is linked to your call him, whether or not you think wall street has changed since the 1980s and 1990s . To the wolves still run wall street . Send me a tweet. We will see you right back here. Welcome back to street smart. A live shot. Ng at snow, snow, and more snow. A live shot of 2nd avenue between 58 and 59th street. It is 3rd avenue . That looks like 3rd avenue. I recognize the mcdonalds. Our director said i would not like to you. Heard avenue going north. Chris christie sworn in for a second term. Going to be a day of celebration but the governor was juxtaposed against revelations of political intrigue. This is all about ridge gate, the u. S. Attorney involved. All about the Lieutenant Governor and mayor of hoboken. I live in hoboken. I have had long talks over the years. Hoboken has a big corruption problem. Always has. The man she replaced went to the pokey for taking bribes. I cannot imagine knowing her she is making this up. That is on a very personal level. The allegation that this is what the Lieutenant General told her, that you need to do this out need to do this deal from the Land Developers or you will not get any money. Have only gotten a few hundred thousand dollars for relief. I have a difficult time thinking she made this stuff up. It makes you wonder if we might see more people come forward. Is christie oh is had a reputation as a bully. Chris christie has always had a reputation as a bully. If this is true, he is not a bully, but a slug. There is a big difference between the two. There is another level beyond being just a bully. It should be a big concern. Did not even mention it, by the way. He completely left that one by the side. Put it he wants to behind him. I do not know how you can at this point. Powers legislative sending out demands for documents from the u. S. Attorneys office. Those investigation are what drive this. He did not bring it up because he feels he has a mandate from the people of new jersey. By 22t his opponent percentage points. He said that as a mandate. People did not want to talk about this stuff, they want to get it done. It speaks to the issue, and you mentioned that allegations. There is really no other word for it, bully or thugs. To think about from a management standpoint. One am ceo of a company and of my employees does this, what does this say about the tone i am setting . Wheelies here about the tone, the tone the ceo that is set for employees down the line. It works in politics, to. Does this encourage bad behavior, but also undermines the credibility of the leader. She makes me wonder then what tone is coming down that they think she can do this. He also compared himself to a banker. This is what he told another news organization. Said i think it is fairly safe that jamie dimon do not know and when people lied about it he did not know they were lying. The immediate attack saying that don zimmer is making this stuff up. The real idea what have been governor christie does not know what is happening here. It was not a big deal. Internal controls are fine, and they were not. You have to be careful what you said. If you are ceo or governor of a state, because for what you said. All right. Jonathan weil staying with us for the hour. Always good to see you. We will be back in just a moment. Welcome back on the snow we tuesday afternoon. I am here with mark crumpton. Bloombergeil, the deal columnist. Time for Global Outlook today. We are focusing on so she, russia. Today they pick in security sweeps in an effort to choke off new terrorist threats in the region. A few days ago there was a video released threatening the winter games. Former adviser to the uks ministry of good to see you again. What are we to make of this . Thousands of troops and police are being deployed. A lot of that not far from sochi. What do we make of this deployment . There are a lot of things. The first is i think sochi has always been a riskon location. The area, the north quarters has been plagued by islamic extremism for the past 20 years. Qs so they knew this before the games were even announced . Absolutely. 5000 russian soldiers were killed. , andt that in perspective a decade of fighting, you have 2000 300 troops. This area has been plagued. And also by the connection to syria. There has been a declaration. Is now a caucasian emirate. For me, there will always be security problems. Not a surprise. Think about the entire reputation, the lives and safety, all of these people come of the reputation. Has not helped himself. He has seen the domestic holidays he has made recently in terms of the antigay policy and everything else. This problem is not a russian or putin problem. Lets rewind back. U. K. Had to mobilize 13,000 troops into london. It is the biggest mobilization of security militarization since world war ii. There was an Aircraft Carrier to point. This is the new world order. We live in a world where there is global terrorism, jihadist. A decision to know they are not doing what they should be doing. There are two key threats. The first one is improvised explosive device him a which has been plaguing forces in afghanistan. The second is a suicide bomber. Jets, warships and fast are not encountered to this insurgent threat. He had the same unit, atlanta, even the most secure venue, you have the rest. Is there anything specifically we know that they are not doing that they should be doing . They have not changed any of the security procedures. They said we are covered and have this well underway. Have not made drastic changes to the plans. Is a great question. I think it is hard to get an answer to. They have a ring of steel around the sochi olympic. When it comes to a threat of a aack widow, a woman with blemish wearing a burqa is probably one of the most difficult things to defend against for any country. Antiterrorism efforts, how do they impact economies in terms of dollars spent . Another great question. I think for me the real question is if you look at america who spent 700 million on defense, the problem is the timeline. The nature of the contemporary threat is changing so drastically. Keeping upcy not with the market. Fiscal policy could not heat up with the changing nature of the threat. The technologyo required to discover ieds hidden under the rocks, Technology Required to ascertain whether someone has a suicide vest strapped to them, it is incredibly hard to do. The timelines take years. A problemhink it is that is necessarily associated with putin. Go toyou were planning to russia and attend, would it affect your decision . No, it would not. I think these were being asked in the lead up to the london olympics. Were quiteple relieved when london passed without any terrorist activity happening. It certainly would not affect my decision of the wing. The biggest counter to these public, threats are the keeping an eye open. If you see something, say something. It is the biggest assistance to the authorities. Mikey k joining us to talk about the associate games. Good to see you. Minutes past the hour. Time to check the markets. Alix steel joining us as we close head towards the closing bell. Not as bad as we saw earlier in the day. Still by almost three points. The nasdaq up by 21 points. Overall propped up by european stocks. Also, china pumping more money into the system helping. Women one stock we want to highlight is dow chemicals. The chemical unit. On the markets again in 30 minutes. Welcome back. Nerdy minutes from the closing bell. Earlier in the show we asked you about the wolf of wall street and whether or not you thought the culture still might exist on wall street. I didnt ask you all to send tweets. Fort of april are saying constant, are you going to join twitter . We are working on that. Street, reallyl fascinating, provocative. Thate asking, how much of culture really exist today . Wall street culture, mainstream culture. A subset of this. Boiler room wall street culture. That is what they made the movie about. Think the it you bucket shop, boiler room culture has gone away, some story pops up that reminds us it never really goes away. Some are on notice now. Term, cockroach egg . There is a term that people jump from job one fraud shop to another. Use a fraud shop. When youtly is classify it as a fraud shop . Highfield sales pitches on the phone of widows and orphans, getting them to buy stocks, taking Companies Public that have no business going public. There . Is still out absolutely. You do not see Companies Going public like they used to, Christopher Beal gets pitched by the state of massachusetts. Accused out by low was of turning some elderly custom built to the tune of 800 thousand dollars in markup and commissions. This is his 17th firm since he left back in the mid1990s. One ofy gets me the firms he was at was john thomas financial. What i wanted to be able to do is go onto the website, the financial regulatory authority. They have a broker check feature where you can look at the background of a given individual firm. He what you cannot do is say i want to look up every broker in the country and look for john thomas. Let me share with you some of these tweets. Something we are going to work on. Lehman brothers is the clearest example. Else is the culture has never changed, given that there is not enough human teacher recognition. Tweet and lete a me know your thoughts as to whether or not the culture is still rampant. They were at firms that got kicked out of the industry. What is amazing to me send theseis very slow to stop types of problems. Why . This is a selfregulatory body. The sec. Ot this is not the real regulator in the sense the primary mission is to protect investors. Selfou have an inventory regulating a big chunk of the industry, it has to be bigger than the industry. They are small fines when people do get them. We do not have the same level of enforcement that i think you would get if we had government in control. Earlier you brought this up, a term you were talking about. You said there is cockroach going on in the industry. Walk us through that. Firms, a bunch of lynch had gone down. Storywas a fantastic about it where they profile it. They profile profile of tele that is the moment 10 firms in 20 years. Most of them had been shut down at one point or another for fraud by regulators. He himself finally got pinched for fraud. Roach there are usually more. Let me ask you something a little less serious. You look at the lifestyle there. Maybe i am a married woman with three kids who knows a lot of people on the streets. Most of whom are married with two kids. They lived ready normal lives. Not quite like the size. I am asking whether or not that happened then. Have people changed at all . You could go in throw down your work plastic card and that was acceptable. There is not a bank in the world right now that will let you spend Something Like that. You think about the change and dynamic. Is it fair to say there is an exception . I think banks are more akin to appearances. Take client scores nowadays, there is a good chance someone will pop out a cell phone or tweet about it and you have a lot more risk. Last and grade for money and other things will never change. Week talked about chris christie. We talked about leadership that that will start from the top down. We want to bew portrayed in the public eye. We do not want shareholders to think we are about this. Of course. But when you still pay wall street traders to take big risks and a lot of single guys running around with tons of money, you are never going to get rid of that culture. All right. We will have more with you coming up in just a few moments. A lot more to talk about. A lot more. The weather outside, we were talking about that earlier. It is nasty in the northeast. A lot of snow and wind. It just got a lot worse. I have a really good start. Snow blanket in the east coast. Snowflake inning the nations capital. Expecting 812 inches in the northeast. A live shot of the white house looking pretty blanketed in snow. We will be right back. Welcome back to street smart. Z. I am mark crumpton. We are going to talk about health care. They say things are still not perfect, but saying things are up and running. Remember, april the target for enrollment is 7 million. They are not going to hit that come are they . Are we still talking about obamacare . Rex you an interesting angle. One of the points you made is that we have effectively outsourced this website to that is headquartered overseas for tax season. We outsourced to an outsourcer. Do not have really strong feelings, but i was surprised that no one made it an issue so i brought it up. They had an ipo somewhere around 12 years ago. What is surprising to me is this is a company for ages that has been criticized for incorporating overseas. A few years ago they were incorporated in ireland. Lex now they are benefiting from our tax dollars. Ireland is a major tax shelter for u. S. Companies. It brings this in another direction, which is whether or not we have the budget best tax policy. A secondealth care for. We probably are going to still be talking about it in the future. Do you think we will get enough people enrolled to make economic sense . It does not look like they are on pace to hit the target. I am not sure where this thing is. I get a sense it will be with us for quite some time. , at the very least again there is the leadership question about the rollout. The president said the book stops with him. Kathleen sebelius was questioned by a number of committees when it failed to rollout in october. At some point does this start to die down about the rollout and the conversation shifts to how iny people are enrolling . Have not seen any real accountability except for the company that screwed this up in the first place. Have some serious problems. The idea that 20 years from now everything will be fine and will have a good program in place i think will probably be pretty rocky. I like to keep changing topics in provocative ways. Now to marijuana. The president was quoted in the new yorker. Fantastic interview actually. One of the points he made was about marijuana. He said he did not see it as any more dangerous than alcohol. The president of the United States saying marijuana is no more dangerous than alcohol. He admitted in much in the article, two. The new gay way becoming president of the United States. Bill clinton. Barack obama. Washington state versus colorado. B is going to be the bong owl. It is interesting when you look at what is going on in the Healthcare Industry in the billions of dollars in the pain prescription Management Industry , big pharma has a lot at stake. If you are in colorado, you do not necessarily have to go and get prescription. It is