Elizabeth Warren, Banks, & Bitcoin 12/07/23

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 7 December 2023

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Senator Elizabeth Warren (D-Mass.) discusses her concerns about cryptocurrency, after big bank CEOs appeared before Congress this week. It turns out, Sen. Warren and JPMorgan Chase CEO Jamie Dimon agree on the dangers of bitcoin. JetBlue and Spirit await the fate of their proposed merger. Columbia Law School Professor and former advisor in the Biden administration Tim Wu explains his perspective on airline consolidation: it isn’t great for consumers. In an op-ed in The New York Times, Wu concludes that M&A in the airspace often leads to higher prices for the same experience. The fourth Republican Presidential debate took place in Alabama on Wednesday, but only four of the candidates participated. Plus, Time Magazine has named Taylor Swift its Person of the Year. CNBC’s Jon Fortt explains why that decision does and doesn’t make sense. Sen. Elizabeth Warren - 15:34 Tim Wu - 34:42 In this episode: Elizabeth Warren, @SenWarren Jon Fortt, @jonfortt Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squack Pod from C. NBC.
0:07.0	I'm producer Cameron Costa and on today's podcast
0:11.0	Senator Elizabeth Warren is fired up about billionaire taxes and cryptocurrency.
0:17.0	There's a new threat out there.
0:18.8	It's crypto and it is being used for terrorist financing. It is being used for drug trafficking.
0:24.8	And Jamie Diamond agrees, her exchange with the
0:27.8	JPMorgan chief at the Senate banking hearing this week.
0:31.3	Strange bedfellows everywhere you go. And regulating airspace
0:35.6	while protecting consumers, Columbia law professor Tim Wu on airline
0:40.6	consolidation as JetBlue and Spirit await their fate.
0:44.0	If you went to a 1970s airplane, it would be the same product that actually with larger seats.
0:49.0	Those conversations, plus Taylor Swift steals the show again.
0:54.0	See and V. John Fort joins us.
0:56.0	Taylor Swift deserves to be person of the year because she is the counter narrative in the year of artificial intelligence.
1:02.0	She performed songs she wrote in front of a live audience.
1:06.2	It's Thursday, December 7.
1:08.2	The anticipation of Friday is right in front of us.
1:10.9	You can taste it.
1:12.0	And Squack-Pod begins right now. You can taste it. And Squack Pod begins right now.
1:14.0	Stand Becky by in three, two, one, queue please.
1:20.0	Good morning everybody.
	...

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