We're in the Golden Age of Wall Street: Cohan

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Jan. 16 (Bloomberg) -- Bloomberg Contributing Editor Bill Cohan discusses the banking industry on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Consensus, we think what happened in december will play in january.

We are talking about after five years having the best five-year pattern of jobs since the recession.

This is north of 2 million for this year, possibly.

Unemployment rate aside, what is really interesting is the average hour workweek is pure a session.

We have taken the slack out of the system and we have got to start hiring.

Does the street care about the jobs number?

At 8:30, everybody is cheering, betting, is it really affecting what they are doing?

It affects the idea of quantitative easing.

If we get a good number and unemployment goes, on your morning show, someone said it will go under 6%. john herrmann.

If we get that type of fast forward, you will see quantitative easing the reduced more.

That will impact wall street all the sudden in a dramatic way.

As rates rise, a possible slowdown in construction.

Aside from our wager, the most important thing at 8:30. your number?

240,000. 232,000. 250,000. price is right roles, you cannot go over.

Number 32, you are number 32. you have got president obama on your speed dial.

You play a lot of golf together, you are an insider.

Chris christie.

What is going on?

I know you are a democratic fundraiser.

I like chris christie.

His office is calling the port authority in new york and saying create a traffic jam because the mayor of fort lee -- i would rather not get into politics.

I prefer to give him the benefit of the doubt, i think the whole thing is a crazy.

The truth will come out one way or the other.

I was stuck in that traffic for 3.5 hours.

I was yelling and screaming.

I think at the end of the day, it is tough to run a country or a state.

Some things fall through the cracks.

I am glad he made an immediate decision and terminated those involved.

Does it matter to 2016? we don't know.

If yesterday was the end, people will move forward.

Every politician is going to have some things in the closet that will come out in an election.

Those will move on and be news for a minute.

From a political standpoint, was yesterday the right kind of apology?

If he comes out clean, he could be even better off because he stood up and gave reporters all the time in the world and said "i am sorry." i will take the blame.

Some people said they wanted obama to do that when it came to obamacare.

Say i am sad.

Obama took it on the chin for health care, he came out and said it was disaster is how we started the aca.

The good thing about the aca is we are now passed one million people on the exchange, it is starting to do better.

When you stand in front of the new york media for 1.5 hours and you answer every question, you have to give that person a lot of credit.

The question is, we will see if there is some sort of -- you are going to have the attorney general.

You can ask him what he would do in that situation if he was in new jersey.

He may have something to do with it because it was poor authority.

Local investigations underway.

A lot of politicians have you on their speed out you have a horse, are you willing to sign on?

Too early.

I am trying to make sure i can be helpful to the president while he is in this seat.

I think some of those priorities that we will hear coming up in the state of the union about infrastructure, something i have been pounding -- been touting.

It is the fastest job creator.

We need a public-private partnership.

Absolutely, there is an immense amount of money on the sideline.

The answer is yes.

More and partly, when you have this country rated a d on the structure, we would fail.

It is not just bridges and tolls, next-generation gps, electric transit co admission grid.

Immigration reform.

On the business side, whether the left or the right, those are bipartisan issues.

Immigration, infrastructure, education.

Income inequality.

Issues for the next election.

For today and the next election.

Do you think qe could be blamed for income inequality?

It got investors really rich.

I was for qe 1, flip a coin on qe 2, not for m&a qe 3. housing is doing better because the economy is doing better.

People want hard assets and are nervous about the dollar.

The question is at the end of the day, will this create a bubble or not.

When you have zero rights and you are being forced into the market because you're not going to put cash under the pillow, the question is are these multiples.

Are we at the right setting for the market or the wrong setting?

We had a fantastic .14 for the market, i don't think people -- we had a fantastic 2013, i don't think people are predicting

This text has been automatically generated. It may not be 100% accurate.

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