rahm emanuel needs to come up with some ideas. his options are pretty limited. k: they are getting really limited and fewer by the day. the first move was to go to the for pension reform. that was a big fat no from the state. that was when you saw the moody's downgraded. holding campfire meetings. -- more tore out explain the situation they are in. next year, when they see their kapok bus route is cut, they know what's going on. --t their kid's bus route next year, when they see their kid's us route is cut, they know what's going on. .eople are not happy they are chanting, they are going. it is a dire situation. these are essential services that have to get cut. scarlet: this means some kind of reform is necessary. is there a way to implement pension reform? have island and new jersey successfully. kate: they went up to the state and the state set up. no one in illinois. it doesn't seem like they will get any relief from that because it has already been appealed. it is looking like a no. scarlet: what are the options for rahm emanuel? what can he do now to raise

rahm emanuel trying to fix the city's benefit. -- cities deficit. it will not be easy. ♪ sure, tv has evolved over the years. it's gotten squarer. brighter. bigger. it's gotten thinner. even curvier. but what's next? for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. scarlet: welcome back to the bloomberg market day. we begin with ford unveiling its new line of super duty pickups. cars likerst time, the-two 50 are getting a new aluminum frame which helps shave off about 350 pounds -- cars are getting a new aluminum frame which helps shave off about 350 pounds. whenthink their locations it comes to the degree we have to test all of these vehicles. ourre confident and we know vehicles perform on the road. we do not used if he devices. we will work together to do that. that is in our interests as well as the consumers'. scarlet: he says in missions cheating is not industrywide. -- he says in tradingcheating -- he says in emissions cheating is not industrywide. the 15 year rate to decline appeare

emanuel used to be a new democrat, one of bill clinton's people and they were supposed to be for not raising taxes at every turn. he's turned into, you know, what we have in new york. >> a bankrupt city with pensions -- that's the worst thing you can do for bankruptcy, just go back to the -- >> we're going to have to -- raise the taxes, people move out of the city and your revenue base shall references, and then you really can't meet the obligations. >>> it is possible right now that you can now understand why bernie sanders is very, very popular with this rage and why donald trump is popular with this same rage. why both of these guys have lately been targeting wall street. zoo whan bernie sanders and donald trump have in common besides being out of the box candidates? they are both critical and often quite critical of wall street, of hedge fund managers, of these guys who at least donald trump has said have more in creating jobs abroad and screwing taxpayers here than of anything else. that's something that is a fascinating development and could explain the populous appeal of these

emanuel used to be a new democrat, one of bill clinton's people and they were supposed to be for not raising taxes at every turn. he's turned into, you know, what we have in new york. >> a bankrupt city with pensions -- that's the worst thing you can do for bankruptcy, just go back to the -- >> we're going to have to -- raise the taxes, people move out of the city and your revenue base shall references, and then you really can't meet the obligations. >>> it is possible right now that you can now understand why bernie sanders is very, very popular with this rage and why donald trump is popular with this same rage. why both of these guys have lately been targeting wall street. for what's wrong with america, after this. ♪ is it the insightful strategies and analytical capabilities that make edward jones one of the biggest financial services firms in the country? or is it 13,000 financial advisors who take the time to say thank you? 'night jim. gonna be a while? i am liz got a little writing to do. ♪ it's why edward jones is the big company that doesn't act that way. irresistible mom

discussp the wearable what rahm emanuel has been pitching to investors. before we get to that, here is another check on biotech stocks. they are sinking yet again, a seventh day down for the biotech index. that is the biggest in almost seven years. ♪ scarlet: today we are going to focus on municipal bonds. to theanuel spoke municipal pharrell of new york at his first official trip to new york in three years. hisrole was to solidify relationship with wall street and convince investing community that chicago is not doomed. a partner at municipal partner analytics attended the event joins us now. i want you to frame this for us. it comes at a critical time for chicago. >> this is one week after rahm emanuel has come up with his big city budget that is going to turn around the city and they will have issues anymore and what i was looking at here is this is an attempt to control -- convince the makers of new york that we are in place to go and we are fine. open up that line of communication between chicago and new york city. it is the finance capital of the

this business with rahm emanuel in chicago looks like it is straight out of the clinton playbook. at some point we will these people be held accountable? >> i certainly hope so. i do not understand why this is happening. why not just release the record. what is interesting is the law is actually not clear. youhe may be can use a private device, but just because you can does not mean it is the right choice which is what we heard hillary clinton apologizing for. i think that is true. lou: most folks have been making bad choices for some time. hillary and uma, john clinton claims she was not involved with the decision to let her work a couple of extra jobs, special government employee status. yesterday she signed off on it all. what now? >> i thinki think the same thing as ebony just said is going to take place. everyone seems to just. these people past this thing is torturous to those that asked the question what are these people doing? they seem to be lying at every single turn. they do nothing to ask the questions and put the heat up. imagine if it were a gop candidate holding e-m

the problem is when he got to washington, i imagine there was a conversation with rahm emanuel where he says i want to take on this corrupt system and rahm says "it can't happen." let's get onto to the other issues. so he gave up the moral mandate i think he had that would have been extraordinarily powerful to bring about this change. john: if a candidate like barack obama ran while collecting a vast amount of money and promising to change the system and doing nothing to change the system -- if that candidate, who you invested so much hope in, turned out to be untrustworthy on this issue, why is any candidate going to be trustworthy on this issue, including you? mr. lessig: well, because, barack obama and any other candidate can get elected and after having a number of important successes defined his and administration in terms of his successes. i think obama, in terms of turning the administration to the best it could possibly be, has been a brilliant president from that standpoint. i will only succeed if i succeed. there is nothing else to measure me against except if i got this le

the cost of living in chicago could go up with rahm emanuel gets his $500 million property tax wish. the largest increase in it the city's history would be on his way to balance almost $700 million deficit. on top of that cook county raised the sales tax to 10.25 percent. that is the highest in the nation. >>> well the new york jetsrightt down andrew lutz' office. >> the jets feel the pressure. he does it. >> with that the colts turning the ball over a whopping 5 if i ams in the monday night football collapse. the final score 20-7. it marks an outstanding week for the jets. the team has 10 turnovers in two games. >>> well, it is beginning to feel a lot like fall. how appropriate, because it is the end of summer. >> that is true. rain, though, is expected to cross much of the country today. maria molina is here tracking what's ahead. >> good morning heather and ainsley. we are tracking areas of rain heavy at times across the northern, central plains and parts of the midwest. i want to start out with the temperatures. you mentioned it feels like fall out there in many areas. one of tho

pressure is building for chicago mayor rahm emanuel as the city faces a day of reckoning over its huge debt. good day from bloomberg world headquarters in new york. this is market that. i mark crumpton, here with scarlet fu. scarlet: little change in china overnight. seems to have halted the salting here for now. posting its first gain in three days. changethe adp implement -- employment change. if you look at treasuries consistent with that idea that

because there is a complete failure of leadership on the part in chicago mayor rahm emanuel. the blood is on his hand and the police chief. they are complicit in this. you see this kind of death like we are in war in chicago and new york with this kind of blood shed. why wouldn't you step in to do something about it. they don't have an active stop and risk policy in chicago and they never have. >> they don't flood the zone and call the national guard out. they do nothing but they allow innocent people to be gunned down in the streets. >> i did some research on the precincts. 333% than last year on murder: >> we hear all this stuff about black lives matter and all. this there is a carnage in the city of chicago that is killing black people, innocent black people. and nothing is being done by the liberal politicians who run the city. >> de blasio isn't doing anything. i agree with you. >> happen in new york but not yet. >> no, but there was seven homicides. >> i know. we got an eye on de blasio. we know what de blasio is all about. neither of you disagree with my a&e assessment

they took their fight straight to chicago mayor rahm emanuel disrupting two town hall appearances to make sure the mayor got their message. it is now been a full month since these activists began their hunger strike and yesterday, day 34, the strike came to an end. since we last spoke with the protesters, chicago public schools have announced that it would not close the south side's diet high school. but instead we open it as an art themed open enrollment high school. now for the activists the decision fell far short of their demands because what they wanted for their children wasn't just any school. after consulting with experts, parents and students and holding a series of community meetings, the coalition behind the push to re-open dyett came up with their own plan for an academy focused on green technology. the hunger strikers say it was overliked in the public school's system about dyett. while the hunger strike may be over, their struggle will continue. from chicago, two of those activists. director of the journey for justice alliance, and jeanette taylor. can you tell me a lit

under chicago mayor and former obama chief of staff rahm emanuel, the city has closed about 50 schools in predominantly african-american and latino neighborhoods as part of what critics say is a push to privatize education. the hunger strikers have called for chicago to reopen dyett high school as a global leadership and green technology school and on wednesday, mayor emanuel was to meet with the dyett supporters after a city budget town hall meeting, but his security detail escorted him out when protesters took to the stage and confronted him. right now! right now! right now! amy: well, in a new development thursday afternoon, janice jackson, chief of education for chicago public schools announced that dyett high school will reopen as an open-enrollment arts-themed high school. but the announcement was seen by some as an attempt to and the hunger strike. the protesters have rejected the proposal saying "this doesn't reflect the vision of the community." well, for more, we are joined by two of the hunger strikers. jitu brown is the national director of the journey for justice alliance,

emanuel, had to be ushered out of this town hall meeting he was doing to explain the cuts and services of that have come bus of kowtowing to the teachers unions and protecting their pensions. i'm beginning to think this rage across the board is palpable and i think for conventional politics worrisome because they look like they're part of the problem, not just the solution to the problem. >> well, and all of that is true, which is the reason why i'm with governor walker, going up against the teacher unions, talking about putting real reforms in wisconsin. if you look at governor walker's record as a political leader i bet you that most of the trump support would gravitate to them if they figure out who he was, we're what is happening? he seemed to have suffered the most in this. i don't know if that's fair or right but he hayes has gone from being the guy to beat in iowa to being in the middle of the knack iowa. what happened? >> i think it's early but i think you have to say if you are doing a diagnosis, it's certainly a trump phenomenon there, but remember, you have field operations.

i'm sure you are probably aware that rahm emanuel was a founder of that church and i'm glad that you mentioned him several times in your book. i'm curious as to when you were last in charleston, the time you spent there and what your thoughts are about contemporary charleston and if you have seen the statue that is now in hampden park? at the magnificat statue. santa last summers in charleston was emanuel ame. i haven't been back there since and i'm looking forward to going there in a couple of weeks as a matter of fact. i only talk about my book blitz to get a better sense for the way things are. i have a lot of friends in charleston who have been talking to me about the situation down there. and of course my father lived in south carolina and carolina for 25 years. i was horrified obviously by what happened but gratified by the reaction to it finally by the powers that be in state government. nikki haley comes out and says we have got to take that flag down. that's good if you have republicans state senator. >> saying it's time for it to come down and i think that's good and the de

under chicago mayor and former obama chief of staff rahm emanuel, the city has shuttered about 50 schools in predominantly african-american and latino neighborhoods as part of what critics say is a push to privatize education. the hunger strikers have called for chicago to reopen dyett high school as a global leadership and green technology school and have submitted a detailed proposal that has yet to be considered by officials. at least two of the hunger strikers have been hospitalized. on monday, local clergy, including rabbi brant rosen, voiced support for the hunger strikers. >> we are here today that in this day and age, it is a shame, familiesl reality that and the community have to starve their bodies in order to have a decent school, open enrollment school for their family. this is what it has come to in the city and this is what it is come to an this country. are our public institutions increasingly being treated as commodities that can be bought and sold to the highest bidder. we are here to stand with the hunger strikers because they are our moral role model. they are our teach

under chicago mayor and former obama chief of staff rahm emanuel, the city has closed about 50 schools in predominantly african-american and latino neighborhoods. earlier this month, under pressure from the hunger strikers, officials announced plans to reopen dyett high school as an arts-focused, open-enrollment school. but the hunger strikers had called for it to become a global leadership and green technology school. they ended their fast saturday amid concerns over the hunger strikers' health. and viola davis has made history, becoming the first african-american to win an emmy award for best lead actress on a drama series. i see a line. and over that line i see green fields and lovely flowers and beautiful white women with their arms stretched out to me over that line, but i can't seem to get their know-how. i can't seem to get over that line. that was harriet tubman in the 1800s. and let me tell you something, the only thing that separates women of color from anyone else is opportunity. [applause] you cannot win in amy for roles that are simply not there. here is to all the writers

rahm emanuel proposing one of the biggest party tax hikes in the history of that city. more varney in a moment. t? does it make the short list? yeah, i'm afraid so. it's okay. this is what we've been planning for. knowing our clients personally is why edward jones is the big company that doesn't act that way. if you can't put a feeling into words, why try? philips sonicare leaves your mouth with a level of clean like you've never felt before, making it the most loved electric toothbrush brand by americans and their dentists. innovation and you. philips sonicare. to build something smarter. ♪ some come here to build something stronger. others come to build something faster... something safer... something greener. something the whole world can share. people come to boeing to do many different things. but it's always about the very thing we do best. ♪ you premium like clockwork. the very thing we do best. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for ins

and 2009-2010 she served as special stoont the president and adviser rahm emanuel. before that she served as mr. emanuel's communications director for the house caucus. ms. feinberg clearly has commitment and admiral commitment to public service, some are concerned her background does not include deep expertise or experience regarding

and 2009-2010 she served as special stoont the president and adviser rahm emanuel. before that she served as mr. emanuel's communications director for the house caucus. ms. feinberg clearly has commitment and admiral commitment to public service, some are concerned her background does not include deep expertise or experience regarding railroads or railroad safety. as noted in an article in politico, at this crucial moment this is the nation's top safety regulator is a former facebook executive and white house adviser whose resume is long on communications and policy posts and noticeably short on railroad experience, end quote. so in addition to asking ms. feinberg to respond to those concerns, i'll be also asking her about the looming deadline for railroads to implement positive train control. those in the rail industry are well aware, it is a rail system designed to prevent collision, overspeed derailments and other accidents by automatically slowing or stopping a train that is not being operated safetily by locomotive engineers. the improvement act mandated the im

you know, there's a lot here that this mayor, maybe rahm emanuel experienced in chicago, has given away far too much, looked to be in the hip pocket of far too cozy democratic constituent group, in his case, the teachers union, and democrats of all stripes are rebelling, and hence your name coming up as a more reason challenger to the mayor. >> i think de blasio is left of being a democrat. he's more of a socialist. neil: but what are you? >> i'm a democrat with a responsible approach to management. neil: do you worry that your party nationally, especially with the surge of bernie sanders, risks doing the same going way far. >> i think they're going to lose, and the party will lose a lot of constituencies, and you're seeing this in state elections and municipal elections, if they go too far to the left. they're going to lose core constituents. like african-americans, they're tough on crime. african-americans believe in a strong education, that's the only pathway to a better life. neil: would african-americans ever go republican? >> they would begin to look more because the policies we'r

still ahead on the bloomberg -- rahm emanuel trying to fix chicago for budget. but it's not going to be easy. ♪ pimm: this is the bloomberg market day. fox.pimm a new chief executive selected for volkswagen. he is the former chief executive for the porsche division. matt -- matt: this is what i love. pimm: this is according to "the wall street journal," he is going to become the new head of volkswagen. was: matthias mueller running the most profitable brand in the world until it got swallowed up by volkswagen after porsche attempted a takeover of volkswagen. they turned it around on them. he is sort of, has been the chosen -- pimm: how long has he been there, about? matt: he has been it volkswagen for 20 years. the: he is a veteran of company. matt: he is a favorite and the volkswagen,man of the venerable most important automaker figure in the world until couple months ago, when he was trying to throw out martin winterkorn as ceo, they planned on replacing him with matthias muller. that was originally in the had sobut winterkorn much backing, he was able to th

emanuel at two highly contentious town hall meetings where on wednesday he was eventually forced off the stage. that same day, two of the protesters travelled to washington, d.c. to personally deliver a letter to education secretary arne duncan -- remember, he's from chicago, asking for his support. joining me now from chicago are two of the people participating in the hunger strike. brown and jeanette taylor raymond. so nice to have you both. >> thank you so much. great to be here. >> talk to me first about what is at stake here. why is dyett so important given all of the various changes and disruptions in chicago's schools? >> well, my daughter who is now an eighth grader travels 16 miles to a neighborhood high school. that's two buses and a train. that's not bad parenting, that's not her being an uninspired student. that's a district that doesn't value us because of the color of our skin. in 2015 parents should not be on a hunger strike for a human right. >> i know where dyett is. it sits on the edge of the university of chicago's neighborhood. right there in the neighborhood wher

take onoing to get his whether he was convinced by rahm emanuel's sales pitch. mark: some sun -- some serious financial problems there as well. we will see you in a couple of minutes. still ahead, he is one of the top golfers leading a new generation of the sport. i will speak to jason day, the 2015 pga championship winner, when bloomberg market day continues in just a moment. was raising was illegal in china. for decades. the country has also faced some economic challenges recently, and that could affect the thorough bread industry. it does affect the number of horses that they buy at various times, depending on what is happening to those currencies around the world. >> he is a bloodstock agent, someone who advises wealthy clients to buy horses here and in europe. -- they were reasonably priced in europe. the dollar got very weak and it was difficult to buy in europe. >> he is looking for bargains. james is also a bloodstock agent. kentucky fromd to inland and says international demand is up, and it has become easier to buy shares of racehorses. >> when the goo

mayor rahm emanuel extended his hand and the man shook his hand. sometimes the candidates snub each other. like when the candidate in red reached out to shake her hand after a debate. angry about what she considered a personal attack on her family. but more often than not, snubs are unintentional. president obama didn't mean to ignore the irish prime minister's hand. once he did, what could the prime minister did but inspect his nails? sometimes folks get shook up over a perceived snub but an unshaken hand can be deceiving. case in point, the time when george bush was hosting a summit. turns out this was the snub that wasn't. earlier that morning -- >> how you doing? >> reporter: president bush had shaken and held their hands. the guest diss andy richter? rigle wiggled out of it. >> he looks at andy like i'm going to give it to you, and -- >> reporter: there's a difference between a diss and a plan old miss. jeanne moos, cnn, new york. >>> happens with the high fives as well. >> you never want to miss. final story for you. >>> a woolly sheep in des

chicago mayor rahm emanuel is pushing for that massive property tax increase to help balance a $700 million city deficit. great. that's going to work. next $25,000, that's how much someone has offered memorabilia dealer phil kastenetti for a jersey that was once worn and signed by notorious crime boss james whity bulger. and finally 100% made in america. florida governor rick scott signing the all-american flag act which requires all state-used flags to be made right here in the u.s. of a. and that's news. >> one week after the shooting of an unarmed history professor at delta state university you have a law professor at the university of missouri suing his employer over what he calls an unconstitutional ban. does he have a case as the gun ban? joining us professor royce barondes and his lawyer. professor why do you want to be able to care a gun? >> well, the state of missouri, a few years ago, has secured that right to individuals to bear their firearms. and i think the university should respect that. >> because are you concerned for your safety? >> well, there are always concerns about on

and 2009-2010 she served as special stoont the president and adviser rahm emanuel. before that she served as mr. emanuel's communications director for the house caucus. ms. feinberg clearly has commitment and admiral commitment to public service, some are concerned her background does not include deep expertise or experience regarding railroads or railroad safety. as noted in an article in politico, at this crucial moment this is the nation's top safety regulator is a former facebook executive and white house adviser whose resume is long on communications and policy posts and noticeably short on railroad experience, end quote. so in addition to asking ms. feinberg to respond to those concerns, i'll be also asking her about the looming deadline for railroads to implement positive train control. those in the rail industry are well aware, it is a rail system designed to prevent collision, overspeed derailments and other accidents by automatically slowing or stopping a train that is not being operated safetily by locomotive engineers. the improvement act mandated the im