Squawking Twitter IPO, Hank Paulson, & BBQ squirrel
Before jumping into this week's Talking Squawk—the official blog of everything "Squawk Box"—I want to belatedly welcome everyone back. Yes, the blog has been on hiatus for a few weeks, while I sat on a beach and rebooted my mind, body and spirit. But we're back and noticed that this will be the 20th installment—a "historic occasion" for which I wish to personally thank all of my reader(s) individually. Thanks, Mom!
5 years later ...
There's probably no one better to reflect on the 2008 financial crisis than Hank Paulson.
He was Treasury secretary during the crisis and helped engineer the then-$700 billion Troubled Asset Relief Program (TARP)—the bailout credited with preventing the collapse of the financial system.
On "Squawk Box" Friday, he described the crisis as a 100-year storm, and that no one involved in it had ever seen anything like it.
Welcome back, Sandy Weill
A little over a year ago, Sandy Weill—the guy who came up with the full-service, one-stop-shop financial megamall idea—came on "Squawk Box" and shocked us (and Wall Street) by saying the big banks should break up.
Thirteen months later, the former Citigroup boss came back Tuesday and revised that view to some extent—pointing his efforts and thoughts more toward working on getting the right regulations in place, so the banks won't have to split.
Check out the interview, and you can decide for yourself where he really stands (because I'm not sure anymore).
Changing the World
Weill helped us launch a new segment on "Squawk Box" this week.
Called "Change the World," it's a way to profile major philanthropic gifts and contributions some of our guests make in an effort to, you guessed it, change the world.
Weill told us that he and his wife, Joan, are making an additional $100 million donation to Weill Cornell Medical College.
(Read more from Weill: Hey Jamie, call me maybe)
Twitter taking the plunge
Yeah! Twitter is going public.
But remember how fun the Facebook IPO was?
The stock tanked.
The Nasdaq practically crashed.
Investors were furious.
Boy, sounds like we have so much to look forward to!
iPhone 5S and 5C ('S'ame 'C'rap?")
What do you do when you really have nothing new to say?
Say the same thing and do it with a bigger smile.
With nothing really that new—no watch, no TV—Apple CEO Tim Cook held basically the same event he did when he launched the iPhone 5 and (like with the iPhone 4) slapped an "S" on the end.
The joke? The "S" stands for "same."
It will look like the plain old iPhone 5, but I guess it'll be able read my fingerprints and take a better picture—for the standard, carrier-subsidized starting price of $199.
Or we can take a stand and say, "No way Apple. I'm not falling for it!"
But Apple's too fast for us, already anticipating our doubt. That's why it announced another new iPhone! It's less powerful and less expensive—a carrier-subsidized starting price of $99. And the brand guys worked for months for a new name: the iPhone 5… (drum roll please) "C."
"C" for cheap! "C" for colorful! "C" for crap?!
Now that's innovation!
Unfortunately, the only thing most of really want with our iPhone is a better battery. But that innovation was nowhere to be seen this week.
Just call Elon Musk already—he'll figure it out!
Here's a report card on the job Cook is doing via "Steve Jobs" author Walter Isaacson.
What do 200 fired-up economists marching on Washington, fist-in-the-air, bellowing a "Jan-et Yell-en" chant sound like? I have no idea and I'm sorry I even brought it up. But one of those angry economists called in this week to make his case.
OK, fine, one more time, everybody … "JAN-ET YELL-EN!"
Squawkward moment (on Andrew Ross Sorkin being late to work because of delays on the George Washington Bridge on Thursday)
Joe Kernen: Look who made it to work! A little hung? I mean hung-over.
Andrew: Um, yes, a little ...
Becky Quick: A little What!?
Joe: Yes that's right. I asked if he was "hung" ... "over"