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tv   Driven by Greed  Deutsche Welle  May 2, 2024 8:15pm-9:00pm CEST

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the decline deutscher bank during the 2008 financial crisis. a good the, [000:00:00;00] the, the industry can have a site to make the right decision to dw and, you know, follow it's summer, 2007. the 1st day of an iphone goes on sale,
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a train strongly because power, long streaming strip gosh, a national football champions. the world's most powerful politicians. i'm missing on the politics as it versioning financial crisis in the you, it the, and the rolling stones room 2 in july, they stage an exclusive consis in boss a loan of the 200 torture bank investment bank because, and their clients you know, have the front of the stage about talking to grab mc jack is full and then he said, and the great thing is, the money we're getting for this is coming out of your bonuses. seems chairs at the same time, there's growing session tea on new york stock exchange with a major financial collapse is imminent. and so from thinking we can kind of quite
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void out by seeing the rolling stones, you know, kind of a, went to bed that night. kind of feeling that we're just about to potentially blow up. it's amazing has been taking place on the print as an a big the exclusive stones performance reported the costs more than $4000000.00. the up on the 52nd floor deutscher bank use of combined with seo at the time, is a to make it the world's biggest back had left him reliant on the world of investment bank. and so he turned a blonde on to start jessica pates was the, on the funding some content. did you know about this concept of, of, if there's was to cause or i don't think so. i didn't. well, perhaps i knew there was a concert on it, but i wasn't involved and then might as well as like, play the game under
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a massive sign sign. this is, let's talk to the so that this is a kind of emblematic of the so the slight madness of the banking industry. such opulence is now ancient history and use of a c'mon has also long since vacated his chair at deutscher bank. but his time is ceos to shapes the institution today, the, in the years that followed the stones fiasco, the once reputable name of the financial institution was drug through the month. its reputation still hasn't recovered to this day. the, this is frances, is just strong. so in buildings missing district, the birthplace of deutscher bank, it was founded in $1870.00, in an honest shooting booty. let's not go the,
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the founders did by private bank to do group. what did this say? so office a client security for the deposit for the next 1st 10 years instead focused on conquering move markets and providing loans for the pre export financing market the the winds, arden desmond, i would definitely say they were strongly motivated by the cold of founding a strong german, but also to make germany you cannot make the strong internationally and it wasn't just business to my patriotism. but also i played ross another as well, but it is most the most beautiful the export market collapsed. how is the with the status of world war? one in 1914, the still fledgling deutscher bank was facing ruin the austin, just a few guy in was not the far and brown just have to be closed. one after another. be able to develop several strategies to compensate to the black one. i was to grow
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it's client based insight gym and having a non canada and it was for deutsche bank to get very heavily involved in financing the war economy during world war one. finance, you'll next week such f i is the 1929. so the next it's the central crosses, black tuesday, the devastating stop loss is a little strange to get a global economic crisis, the total mass unemployment and social stripe for those of the world the, the impacts of the great depression also reached to each of banks leading headquarters, the, the doctors jumped into
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a 2 bags. history came and all she gets 1943. this time the banking industry was north. any finance in the war economy, but also the hollow cost, the systematic motor of juice and other minorities, the banks branch in cost of it's a guaranteed loans to totes and sons. the company that made the incineration for the us gets crematorium. starting in 1937 hub and yoseph ups was both of torture bank upset not not set from one fish there because off tops himself set off to 1945, but he didn't want to be counted among those who sent. they had no, nothing has done that's the, the end directly admitted that he'd been quite aware of the crimes being committed by the nazis for this most. climbed off the 1954. the country was getting back when it sees west germany,
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when the football will come. the gym and economic miracle had become. so too had the cold move. this of the union launched a split snake. the 1st centralize into space deutscher bank was finally reformed in 1957. this time in front such not talent, it'd been broken off by the allies of to the who, the and in spite of his role should rush and use of arms returned as chairman, the menus of the outside. chairman, joseph apps was a convicted for criminal dodge. but they needed deutscher bank after the war, and then there was store invasion, nothing to eat, no heating house of the country, lee and ruins. they needed leaders who knew how to do business, who had contact and to get things done to become an ops must have been appointed
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back to his post at the discretion of the allies. and we'll do him there. i mean, you may have reasons on the how soon to be done. so i'm schools in florida. the attachment 5 in switzerland, stomach guns, the land him in use of arms was hoping to win back towards your banks. reputation in the late 19 fifties. his future success so was growing up in the swiss mountains . yoseph come on was the 1st of 3 sons of rule physician come on and wife margaret the he loved sports and music and whatever outcome and did he wanted to win? sec, racing included bus him in dvd, click by you guides. he was going on bush, somebody,
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and i think his father was us and that the mom for the pump off to his military service. a come on studies business in the city of funk got off to briefly considering following his father's footsteps and medicine. the assumption graduation he turned down and also for a future in the academia the . instead, he pursued a career in 1977 in banking with credit suisse into the back. then most banking took place manually. the counter bank is kept accounts exchanged currencies, granted loans and try to didn't shows it wasn't anything spectacular to the bank cuz didn't make money doing it.
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loans with the biggest business, the banks that that on the banks lend money to small and big customers caching in on the interest. oh, they traded ships and currencies for commission if i yeah, i'll come on a send a degree and letter credit suisse. it was on the bring to taking of leadership of the entire bank. when off of the blue, everything came crashing down. 976 and 1996. so you something they walk down and left the funding is to punch a, came off for a power struggle home, which he had basically lost him to follow on the same. yeah. a come on had a new opportunity in frankfort. it's between towers, deutscher, bank was looking to fundamentally revamp it's business model, and finally become a global player. chief executive deutscher,
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bank to mccullough proof. i come into the folds at the time, couple was facing a considerable problem. disgrace, jim, and we were to stay tycoon, you can schneider had been extradited from the us. it was a full of a clients and things was threatening to become very embarrassing for deutsche bank side of uh, getting ya know, cole stopped schneider was a brilliant roadster. he brought up old real estate and restored buildings without any consideration for cost of the for his last project is unforgettable. it was on the site of a department store in franklin style district. and he falsely inflated its volume all in the view of the deutscher bank towers. and then when they could no longer deny what was happening on the door, each ivank turned the tap off with the light. but it was too late. and you had all
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these contractors waiting to be paid for them. advice knowing that quench do initially fled to the us cult, had play down the damage to do it. you bank as one of the all new computer system to lots of money. but we estimate that for all 3 projects that we're talking about, they've got the 3 that involve deutsche bank activity, though it's very clearly on the 50000000 mob. so we're talking about peanuts and you have different peanuts paints cuts and made it sound like $50000000.00 each box, $25.00 and a half 1000000 euros today with sped change and in numerous display of advocates from the bank, especially given the financial consequences to the construction companies involved . so in this months we spend could turned up in the form of use of a come on. it suited hill not corporate to public shop. his cruise image, industrial, i see here on the 1st of all you're very familiar with. certainly a new world for me see is name, but i soon felt at home and sense, but not all that glitters at deutscher bank is gold. so i saw that i could bring something to the table and by the way of doing things that was better,
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back in switzerland, does it in the try space to get most of the time on the spot. the pain of incident shifts into it. you bank was stable and trading is around $28.00 us. but for the vicious outcome on, it wasn't enough. he wanted more the industries solutions because it's decisions that was easy basically uses pest this tv shows. so it's your bank still highly valued. it's relationships with private customers. it wants to show that it was ceilings,
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reliable and trustworthy. you feel comfortable putting in of the 1980s, a new era began in london's financial center. investments banking was deposited at the time, marking a radical change in the industry. which was of the cause of the data, the decisions joined the big plaza. the global level was of course something quite different to the original concept of deutscher bank except when it was found that a 150 as early as younger go ended order. we'll just try to to decide to host bunk beds. that was the end of the traditional house bank principles for where a company had a close relationship with a bank jobs and goes, it's loons, there doesn't lose the whole investment banking is about trading, enroll materials, currencies and phones. also using the bank's own money, owe the clients the high sums that trade is juggle. mean that even the smallest
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currency fluctuation can lead to massive gains or losses. risk is the name of the game. in 1996 new board member yoseph recommend took over the investment banking sector deutscher bank are coming are really believed in the investment. he believed in that was found way of toich, a bank becoming a universal buy covering every client all over the world. so people a lot of pressure on, on the buying investment bank to make money. and then if you made money, there was pressure to make more money. and then the next year, more money the employees on the trade for the investment banks came up with increasingly complex financial products. anything that counted was the profit which dictated the size of a bonus. that's in order to process, you have to take risks. taking risk is the life blood of these people and,
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and the notion of turning down possible money, making opportunities because they're too risky. that's just not in their dna include the culture on wall street was definitely shaped by this very male dominated business. it was all about my bonus, so it's bigger than yours. i died. i lived in their own world and fire tape pursue the kind of lifestyle that they perhaps could otherwise have afford it. especially in the u. s. investment bank because the new world is that right? it's a money machine outside is have no chance of completely understanding including the box does to rubies. i'll tell shave that it's. it's impossible for them. yeah. even if the boss and the funny proof of 2000 products are being development to you, even if you have to sign off on every one of them, you'd have to look at them in detail. i don't think that's possible if not this. let's just me think button unlock is both mr. i come on this when it's mitchell was
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a man that i'm the student investment banking inside and out to achieve, but could poached it from the competition was the best employees. it's image of a though, so can off the rain. that's and michel the 1st the bank so called rain mike gotten out of the rain maker was the time for an employee that brings in unbelievable sums of money home. so i come a new right away. so his standing was riding on the standing events and michel to them from the role events and michel for the whole if on at some each of the opinion as an mitchell became i think in many ways the worst nightmare of jo ackerman, these here's the american who is so bold and brash, they thought that the future was in sales and trade and investment banking in this very kind of cowboy uh, type of business that the americans and perfected in that the europeans really needed to rush to catch up just being between london and new york on the concord,
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it's and michel was fire up his shirt sleeves buddies with exorbitant bonuses and wild policies. great appeared to be his recipe for success. the london and the group and the house voted on december 21st 2000, which events investment bank who celebrated christmas present this class. and it still takes the staves the mission impossible theme song is blair and, and he declares to this crowd, the nets. here is gonna be even better than the last and essentially the messages we are confir in the world among the guests were number schools. and one of the things that they would do with hire young women to serve as a wait staff and had to learn a bit with the customers. so they developed a system where tend to their little black dresses would be these blue ribbon, which would mean that i'm
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a staff on thursday. let's do the mission to, to does one of the cool and that's a part of it to entertaining the clients and treating them while doing it. the some things probably go too far done to bike in, but enforcing restraints would have violated the investment culture to into being the best way of this one. i can get a gives in some of us to invest some phone calls to us as a customer on the quote kind of co. sure is that and indeed these all kinds of people are they to be kept in line by offering them these types of events. funks, i don't, peter shows what kind of data this is the bank itself to for the bunk. the cost of this day after the big bash it's and michel was do home and rank of the main for the christmas holidays, but the private jet. so she bought it in boston, never made it. it slammed into
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a mountain on it's to sent the pilot and his passenger, it's in mitchell, killed immediately. been out on the stupid, out on the tower. finally, i went to nearly all the memorials and made speeches and author into and it was a significant loss for the bank to the end. of course, people were wondering who a successor would be, so they may have current enough focus on when it mental dies. there is a, this power vacuum and just all hell breaks loose as a result of that cultural shift that he had introduced outcome on named on she jane to succeed. mitchell, the people it worked in essence world didn't really trust, aren't you? and that that would be that would be a problem attic to put them in that position. i said so directly to jo ackerman, was it the big mistake of jo recommend i would say yes. hi. hi. tolerance for
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risk that i think in the end did not serve deutscher bank well starting in 2001 on shoot. jane was in the drive as 6. he had a reputation for not being particularly careful. some of the cloud han fit ultimately the previously respected deutsche bank would lose their reputation under his watch. the in 2002 the you became the use official cash currency michelle schumacher one his speech championship tahoe. the hutch road is secure at another time. as jim and chancellor in coalition with the greens, the gym, and media mogul new coach declared bankruptcy a few years early on shield my copa step peanuts had been replaced by rolf. b. boy,
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a win boy accost dallas on the credit. standing of his client. leo cush. during a tv interview it turned into fisco house bank. pretty good house bank is meant to protect its customers. fits with an immuno c right in the middle of a deal that he won't be getting any more money kind of could you can't do that. i crucified the businessman leo care should copeland. after that, it was over the last loose coach suited for you and deutsche bank in a legal battles. at last, the g is off to his death in 2011. his is were awarded around to be euro's to train their client. leo cash include very costly for dojo bank to $911.00. he deutscher bank hot the manhattan offices was badly damaged when the twin towers collapsed and had to be demolished. the every catastrophe offers the chance of
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a new beginning and deutsch upon moved to wall street by the annual meeting of may. 2002 use of command had finally reached the summit that became the 1st known gym. and to hit the institution the trying to to national lead, deutsche bank balance books puts in place for october, not high enough. the document wanted to be the best on rules trace deutscher bank shares would be listed on the new york stock exchange. a few months later the
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come on wouldn't let anything stop in just like a set price way. they quit the charge of bunker. we'll put these in another in the 90s or early 2 thousands. vicki deutscher bank was effectively earning very little if anything unique menu outgoing attribute on. and i said if we want to play a global role, then we have to be as profitable as arrivals from the show prophy valve of side view. and so our capital yields at the time are relatively small of that. so we'll hold from also quite small capital reserves. our credit before tax at 25 percent. are you and for shy and feed for 20 percent looking back it seems almost insight. um, you know, 25 is a lot of work, doesn't equity all the time. it didn't seem ray just because a lot of buying. so making similar kind of returns when use of come into control in 2002,
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the share price was 59 euros it more than doubled its value since 1996. but could this continue by early 2004. i come on over to you to be standing on the press if it's the face trial, off to the takeover through the gym and telecoms. john minus mine by british mobile phone company, voter, phone. com and being on the supervisory board visit approved a bonus with millions to it's been chapman class. s a. was this an abuse of trust the, the image of a come on showing a victory sign before the trial remains in place in many memories. the 1st of course it's going to force them to push out. you'd expect the german or executives of germany's because bank to keep things under control. that's why they get big money. so those are paid well,
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so things that is don't happen. so when something like this happens, you wonder, cause it all intentional, play a cup of tea, not apply a cash or an ottoman victory uses this series of food paused by deutscher bank chairman or executives was peculiar for this. and i thought somebody to try the games come on with several find me, was a 3.2 meeting. you both have a bunch of the quotes terms come on, didn't admit skills and was allowed to stay as head of deutsche bank. but now he was under pressure. he knew he had to deliver to london and only 2 banks. money machines were finding it full hills and she jane was using the promise of bonuses to drive his work is to make money, much move money. this one is this team of to so she bonus system has various psychological in economic structural consequences and conditions that are result is
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extraordinarily detrimental. tyler, but i'm at the causes agreed to set in the, to the hung up for more and more money. and me a get kind of becomes insatiable, the cross you said this route, the other things shot. if you messed up a transaction and lost money, there was no great this incentive except that you might lose your job title also. but the next bank would be there waiting to snap you up some to do next to block putting on the system. it's a massive thing psychologically, a him of being able to recognize when greed, or striving for profit has become too much reached even to chris. that's what echo month says today, but it seems that back that he had little interest in preventing legal and ethical boundaries from being pushed further and further internal emails like to prove this, a number of traders were manipulating interest rates and engaging in a legal business deals here's how i am. all right,
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and last year an employee rates in the london time. so i think it's simple here, but this is fraud. and venice evans. you've got the deutscher bank manager claiming this is for all the clue and then deutscher bank gets involved. the new thought, you're not going to do this because no one asked, should we get involved in an illegal business deal? and in regarding it has to, they're seeing is on. this is a legal business that i don't think is the risk of always getting called once the once the thought to face effect deutscher bank like to ended up paying fines of $2500000000.00 for manipulating interest rates and violations. us sanctions between 20032005 it's the mid to thousands and which the bank throws a christmas policy in the milan night club time. once again for the investment bank has to go wild.
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that's how i wasn't bothered by that. and the clients appreciated it, as i should add onto j knows he has to keep his team on his side. for example, by paying good godaddy is from the fence carpets this time. they're not wearing the little blue ribbon on their outfits, the by 2006, deutsche bank was a fixture on wall street. prophets was subject, but a storm was brewing. and it all had to do with the sub prime mortgage market, the, his analyst to possibly use of a come on warning, a gigantic crash was likely the what could i come up do deutsche bank was heavily
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tied up in the dubious deals and the u. s. mortgage markets, houses every way it went up for sale. many banks had taken high risks with a mortgage lending. now they had to offload those bad assets as quickly as possible . i saw that you feel it nice about having one of many people just didn't want to believe it out in the up there. i was even criticized inside of the bank. it is more felt resistance on dish because i said what's happening is not going to of it the and faithfulness in the school. we have to get rid of the risk and then sell it off $1.00 fee list for kind of the gods. the you had an issue james team and you were stuck right in there. these them to is to involve diesel. first thing would work out fine, then drops light duties, then there were people who said it couldn't work unless you have to apply you. they said, what you're doing is all coming by trying to turn led into a goals. now you go, it's not it's boss. hello,
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not july 2007. the crash is coming and every one knows this. but on to james investment bankers and living this off as an exclusive, rolling stones consis giving the impression it's business as usual. because it's easy. ok, who used to be able to estimate the risks when enough to be able to carry on bouncing while the music applies on the notice when the musicians are getting tired as it was. and then get off the dogs for life just in time for that that was for a 2nd. the do so little space i k b, georgia industry bank cleared the dance floor a bit too late. they were one of deutsche of banks, mutual clients. at the end of july, 2 10072 weeks of to the students consisting barcelona, the financial services company was facing bankruptcy. the i k. b executive had mistaken. come on sled for gold, detailed trip and cut throat your bank helped create these products in the u. s. which contains bad loans when it did package them. so you didn't know exactly what
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was in there and then sold them. have this done for calls. yeah. or yeah, but we didn't force it on any one thing. we sold them these products because they were asking for them to fax them the money from dustin golf as soon as they become money from diesel dorothy i k b was one of the last players in the market. and i had no idea what kind of storm was brewing desktops, the foster southern power to torture bands full. i'm a chief economist under yoseph. come on antiques, rice had man, has a harsh verdict on the i k b deal with most organ, legally speaking. i'd say it was icb problem or morally and ethically the should have held back sooner and flailed, so we call it and saw him or they didn't. but how? because these products and a nice profit margin by these, put an issue in a given, spending a lot, a number of rescue packages have to be secured to prevent a k
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b from going bankrupt. in the end, private banks paid 1500000000 euros and savings banks around 370000000. the lion's share, the was covered by the gym and national investment bank, the k. s. w. it covered more than 7000000000. you rips the case w itself needed huge amounts of tax money so it could survive work done. so some of the future off to the status of, oh, i don't like saying it as a market economist, the state support. this was the only way that i'm to give you include mateo smiled and then head of the cab they'll be criticized as the fact that the deutsche bank under a come on had to be bailed out by the tex. pam. that's i come on. congressman had to mitigate the risks, he'd largely instigated himself company by selling the i k b these products, these bad assets and bypassing off the costs. it's coming onto the k f w. the national investment bank that shows what made document text and basically how
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lacking in scruples, he was the corporate law spot, had use of economic gambled and lost everything the following, the i k b crisis, eagles of outcome and return to switzerland and a village into chino, like every summer, meanwhile, the creaking sound of the international financial system was becoming hard to ignore. the come on you, he had to face the public doing should banks reputation was in cash's. the argument went on a popular television tool show to also his rules. and he insisted on appearing along
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the events, how much they stayed with when things are going badly. it's fair to say you've made a mistake to pumpkin deutscher, bank made mistakes, and this crisis to to which one do you have to admit it to try to correct them and learn from knowing that i was here? he is late head deutscher, bank would find itself being held to account in the us to be very stakes to avoid criminal proceedings. deutscher bank and 2017 reached a $7200000000.00 settlement. in addition, it already had to pay at $1900000000.00 in compensation in 2013 to to us state mortgage lender. in total deutscher bank had paid out $9100000000.00. it was the biggest penalty paid out during the upcoming era. but it wouldn't be the last,
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just a few months later, the wall street crash on september, the 15th 2008 investment bank lehman brothers, declared bankruptcy in the wake of the us subprime crisis. a domino effect threatened to trigger the same face in other banks. the global financial system was on the brink. stock exchanges around the world trade is frantically tried to say what they quote, pretty dodge, if i'm closer deutscher bank, it actually wasn't that bad. and we were relatively well prepared for a collapse like that of so on, collapse the at the gym and chance to read one crisis meeting followed the next. the government's priority was preventing jim and save us from panic or chaos. wouldn't you dissolving the weird thing to say version that their deposits are secure, whereas in that the german government guarantees that the gym and government fee is another black choose
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a like the $1.00 in 1929. when so many people lost the savings and then the jobs. let's keep them pop up earlier and as it some, i'm not sure this is a cause and there are a few power in the house. of course you have these huge risks that the banks will take care of that, so they didn't expect they would have to guarantee as of a full 1931. it was mainly the credit they have to give you. and then the 2 thousands, it was mostly the international financial markets, and that's 9 feet on smart. because have, you know, type of 2008 and the international monetary fund met in washington assigned to f. it's continued everywhere to stop the global financial system from collapsing, use of the outcome and was now being regarded as an international $55.00. so even though he's fact was among the us and it's the same time, another fiasco was on folding for deutscher bank a property develop. i had defaulted on
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a construction loan with millions of dollars in where else can plus power dice. las vegas today, the cosmopolitan hotel is a complex of superlatives. it has more than $3000.00 rooms, more than $5000.00 employees. hundreds of slot machines. but in the midst of the 2008 financial crisis, bleach event inherited the hospital project. when it's develop a decayed bankruptcy, just wondering if i hope it will be my next day. it was a building sized in the audit loan for 10 years. it would have been known as the deutscher bank building sites and kind of phenomena. the banks are responsible for what these projects look like. pages, primarily, it was about reputation with the to the size went up because of nearby. and so they said we won't write this off, we'll finish building it and set it tells him. and if we have to branch off that, then we'll do additional for tony when the financial crisis has passed. its peak is it? can we have money against could exist? then people will hardly notice that the united states as it goes out,
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that expensive mistakes. the deutscher bank is attend, ask the during that period a come on was originally a guest of the gym and cabinet. the government was planning a state rescue package for german banks. how come on counted dementia with the statement saying he would be ashamed if deutscher bank was among those needing a government bailout many so this has come on giving his victory sign again, verbally. this time the chancellor didn't like it commenting via his folks person. she called, i come and statement him comprehensible and unacceptable decided that you shouldn't have said that have a good mind, but i think he meant that his caps it up. the shit does the least. he didn't run his ship. a ground dean isn't spin, is nice,
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of course if he had mine and he'd be there for me to go straight to the state, does he have the shame to meet some star? do you think this is kate? could you, i need to know to them a bunch of not just about state money, stuff, but it's about the states influence the key to invest and hey, what have been monitored and limited to a maximum of around 500000 was to lead me to get in from the 1000 to marks and for don't your banks investment banking that would have been bad in inc, and we'd have lost a lot of employees gives you unlimited device. so for the shares in the bank had plunged from an old time high of 88 euros in april 2007 to just 16 year spike january 2009. i think it's pretty clear that off to 2000 and some 2008 and particularly with the regulation changes that came in off towards the deutscher bank,
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should have probably into the business model quickly. and they didn't bought on chew. jane and his london crowd didn't want to changed a model on the country driven by arrogant, some greed they would diving deeper and deeper into shady of practices as early as june, 2008. i come on and frank, so it's had an angry phone call with on she jane. i come and complained about the cultural deficits of the investment bankers and said he would not tolerated any longer. those with the findings of a later banking supervisory pro boss. he'd also found no action was taken jumpstart. even because ox does about besides 5 or 6, i always said that i think since 2006 it's and no business is worth damaging the reputation of the bank through. and that was absolutely clear from the top down at the bank, so not, however,
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not everyone follow that rule. board is an external. and so before the annual, when full from london was the decisive parts of deutsch events, profits use of the outcome and was reliant on his golden goose. and she, jane, and my 2009 jane had even been promoted to the board of deutsche bank. it's new year's eve 2010, an in las vegas to each of bank states to make a party some of the opening of the cost of commerce and the bank of pulled out all the stops selling out 12 $1000000.00 for an event feature. and jay z and beyonce at the time the buyer was found at the end of 2014, the hotel was running a $1000000000.00 loss. how high was the loss is please try again. i can't say exactly what it was, certainly over a 1000000000 grant. emily out ultimately the financial loss has reached almost
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$2000000000.00 by the end of 2010, which banks name was touched. the world of global finance now moped to act as the man who took too many risks, and not just with hotels in las vegas, the vibrant habitat ended the listening place of long in the mediterranean sea. its waters connects people of many cultures. how old is ice in sicily? nfl mazda visits mount edna and learns the dramatic history of the island in 30 minutes on the w,
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the . the dw news line from bone in the u. s. president condemns reason to unrest as pro palestinian demonstrations. sweep across college campuses. there's the right to protest, but not the right to cause chaos. terabyte just demonstrates is to avoid violence after police re, the protest. confident used to be at a make more than a 100 arrest. the chief of those who left on the line office level