one is that one of the reasons when i was commissioner that i fought so hard leap for this rule was that there were a couple large banks that we were talking earlier sort of beat the heck out of them bunch i want to mention their name but they were two major investment banks that actually encouraged their own customers to invest in a new product a financial product and then when their customers had populated that filled to the brim they took the opposite position because they were speculating to make money on their own customers now they were tried with that but that's what the volcker rule is trying to get at and to just trust the big banks that they're going to do the right thing we've just seen time and time again that it could be a problem do you think that this opens the door to potentially another big bank bailout or is that a little bit of a stretch well obviously i hope it doesn't unfortunately loan making goes bad gradually and over time bad bets happen pretty quickly so what happened

with a g and the failure of their ability to pay off those credit default swaps what happened with some of the other problems that bear stearns and lehman brothers were bets that went bad really quickly when the other side decided you know this isn't worth as much as we thought it was so i mean lehman brothers just three or four months before it's bankruptcy was doing well it's auditor gave it a clean bill of health its stock was not so bad and then immediately be became clear that it bets its bets were bad even after the crisis the so-called well managed bank j.p. morgan discovered that its london whale position was actually a five billion dollars loss sending the stock market stock price for that company down by about thirty percent so bad things in speculation can happen very quickly one of the things that made the original volcker rule for the law was passed in dodd frank and then these five regulatory agencies including the fed c c o c c c f.t.c. my agency they all had. do it at the same time and we did it i think it was on

december twelfth december twelfth ok it was snowing that day i remember it was all over t.v. because nobody else came into work the federal government closed and it actually didn't really snow that day but they closed the government anyway the bottom line is that it took these five different financial regulators to all do it is that going to be the case with this new proposal is they're doing it in a staggered fashion as you mentioned the federal reserve did it last wednesday the f.b.i. seated at the next day your agency did it this morning as the security and the securities and exchange commission is scheduled to do it tomorrow i should say that control of the currency also did it last wednesday those are the five ok and what should we be looking for if people want to comment for example on this whether or not they agree with you and i are in sync on this one but people have other views how do they comment what do they do they have to get the proposal first right get the proposal the easiest way is regulation it'll open a search page and you can mention the volcker rule it actually hasn't appeared in

the federal register yet it'll be several days maybe even a week before that happens and it should be self-evident where the where you can comment and needless to say the government officially welcomes comment public citizen members comment and we reach out to our members and more than one hundred thousand commented last time in the rule that remember that you proposed and we certainly welcome that this should not be a rule that's fashioned and opined on simply by banks this is too important real live americans main street americans should and they are able to comment we certainly welcome that we thank you for helping that process along bartlett nadler thank you public citizen. and time down for a twit for a plate chang here because when we return archy's alex the higher elevations has the latest on the trade war as a group of finance ministers say there is unanimous disappointment with the united states plus archy's actually banks. looks at the increase used to be off at

mcdonald's and before we go i'll tell you about something new in it and our brains may be positively impact as we go to break here a lot numbers at the closing bell all green for stocks but the big board and all red arrows on the second oil big point and gold all down will be right back. we have the privilege of being the most allied ally of the united states. send to see to and many of the alliances promoted by the west and the united

states in particular members will we also have the privilege of being the most sanctioned. of that to any group of countries so it sounds contradictory it is going to be and pakistan this shows that pakistan will do what is in its national interest it will you know it just will with the end of one we'll be able. to say anything he wants to say and he can't fire you know it won't be another election until twenty twenty and he's gliding into twenty eight so you probably won't even list many representatives of support in the in this election and this year. welcomed. that's big news on wages in the united states as unionized workers have

compelled the disney corporation to say it will meet their demands for a fifteen dollar minimum wage disney has proposed a raise scheduled that would grant all workers at their theme parks and vacation resorts a fifteen dollars wage by twenty twenty one does the announced the major concession ahead of the first scheduled negotiations with their workers union this coming friday union representatives welcomed the movement on wages but say disney has tabled some deal breakers on the issues of over time and scheduling did they also made the move under some political pressure from senator bernie sanders who rallied the disney workers in anaheim california on saturday the senator also put some fire under disease decision making process via twitter he tweeted i have a feeling a.b.c. which which is owned by disney will not be asking on its nightly news program tonight how disney can make nine billion in profits while three quarters of disneyland employees can't afford basic living expenses. and

microsoft has announced that it will be buying the software development platform get hub for more than seven point five billion dollars in stock this marks microsoft's latest acquisition after acquiring the job search site linked in for twenty six billion dollars back in twenty sixteen so why the sudden interest well it's all in the code get hub is popular with developers and companies that need to host projects documentation and code some of their clients include apple amazon and even google with more than eighty five million different repositories hosted at any given time not surprisingly microsoft stocks rose on the announcement and microsoft is not the only company on a buying spree alphabet the company which owns google has been buying companies and platform developers that deal in things like virtual reality ip and cloud hosting software and walmart continues their buying spree of various retailers. around the

globe. and as businesses are increasingly being pushed to take positions on social issues the u.s. supreme court the supreme may have given that process a big boost for better or worse the court ruled seven to two in favor of a baker jack phillips of masterpiece cake shop in longview colorado who refused to bake a wedding cake for a same sex couple citing anti-gay beliefs he attributed to his religion the court found that the colorado civil rights commission did not give neutral and respectful consideration to mr phillips as claim that religious belief and titled him to discriminate while experts say the verdict is narrower than it may appear at first glance it's certain to result in more litigation justice kennedy wrote in the minority opinion quote the outcome in the majority opinion rather the outcome of cases like this and other circumstances must await further elaboration in the courts the highly anticipated ruling comes as there is greater acceptance of the

basic belief that gay persons and gay couples should not be discriminated against in life including in business well more on this story tomorrow with america's lawyer artie's own happen tonio. following the passage of the tax cuts and jobs act last year the us federal corporate tax rate was slashed from thirty five percent down to twenty one percent as companies were given their tax cuts many place to take their savings and reinvest in their work force giving pay raises hiring new workers and offering more benefits while several politicians including president trump and vice president pence continued to say that tax cuts are benefiting workers much of the evidence in recent reports and studies suggest that stock buybacks have been the main budgeted item for companies late last month we reported here that the harley davidson motorcycle company a named beneficiary of the tax cuts. announced that it would be closing operations

in kansas city with several of those jobs going to pennsylvania and some jobs being added in tarlac now other companies are making similar moves mcdonald's has recently decided to start placing kiosks in around one thousand stores each month the kiosk would allow customers to order their food directly from a machine and cutting out the need for a person to work on the register for a closer look at how mcdonald's is implementing the new technologies let's hand it over to our t correspondent ashley bags. if you're a fan of mcdonald's i'm sure you're not a fan of waiting in line to make donal's will unveil a new way for you to order your food the fast food company recently announced it will add sell order chaos to one thousand of its stores every quarter some locations in the u.s. have already started doing so the setup is very similar to the way travelers check in at kiosks at airports around the world earlier this year the company announces experience of the future campaign which will allow the fast food giant to invest

two point four billion dollars in creating improve customer service on top of adding kiosks mcdonald's will soon offer table service for customers will either order at the counter or kiosk customers will then take a seat and wait for their order to be brought to them serving as a means of convenience. mcdonald's c.e.o. steve easterbrook says they can order through mobile they can come curbside and will run it out as well as the existing traditional weights you can pay a different ways and customize your food in different ways i think we're trying to add more choice and variety the u.s. is a little behind when it comes to installing kiosk international markets like canada australia and the u.k. are already fully integrate it with kiosks service and mobile ordering mcdonald's is hoping to install a kiosk and implement mobile ordering by the year two thousand and twenty the fast food giant says it's a looking to upgrade its restaurants in its top five. markets where seventy five

percent of the population lives within the remind us of a mcdonald's those countries including u.s. france u.k. germany and canada many fear these automated machines will impact the workforce however a recent m.s.n. home shows americans prefer cashiers over automatic. so for now mcdonald's cashiers will continue to hold their position the food chain giant is a looking to adapt to ways in which people like to get their food so mcdonald's will be delivering to people here in the u.s. competing with cooper and grown up and washington national banks arts. president donald trump does his version of that old eagle song and takes it to the limit one more time on tough trade talk and tariffs but u.s. allies are having none of it are and are making it loud and clear that the u.s. is not only harming a long standing relationship with all of them but is also destabilizing world trade

artie's alex heil that has the latest in toronto alex there is a g. seven meeting coming up in canada up there later this week and it looks like a number of the finance ministers are pretty hot on making their view views known early ahead of time before they even sit down at the table what can you tell us well there's a pre-summit meeting going on right now in whistler british columbia that's where these finance chiefs are and they're making it loud and clear that they are not happy with the united states of america now that's not something that you usually see at the jesus g. seven summit the member nations going after another one but this time around they're saying not only is the united states basically destabilizing the global economy but it's also an affront to the alliance itself basically you know reducing its power making it look bad to the world so this is something that they are taking very seriously and obviously this comes right at the heels of the steel and aluminum tariffs that have been imposed. on canada the e.u.

and mexico so these countries are ready to fight back and that's what they're doing canada has announced its own tariffs against the u.s. and so as a un mexico is talking about it too and you know what this is the bottom line here i mean this might be just a game to donald trump and it is the ministration but people are going to get hurt in all of this and it's not just going to be people outside of the united states tariffs or tariffs and that's taxation in a sense in your own country gets probably products from another country so you're looking at something like for example this is a great example cheesily when you think about cheese wisconsin is a massive producer of cheese down fifty seven percent of wisconsin cheese exports go to mexico so if mexico is putting tariffs against cheese from wisconsin who's going to get hurt here it's going to be farmers in wisconsin so this is the issue at hand right now we're seeing this back and forth and we know that donald trump i know we've talked about this before he really likes to push things to the limit and it's he seems that he's doing this there's a few days here that things still can work out but you know i didn't expect him to

go far this far and i'm sure a lot of other people didn't either you know i didn't want to shift and it's not much of a shift because i want to talk about north korea on friday the president as people may have seen from the photo looks like he received the publisher's clearinghouse check with big huge on which he made such a big deal out of that but it looks like we're back on with north korea with the negotiations what's the latest big big deal looks like the way it works like july twelfth or so june twelfth in singapore is the date of the meeting this has been confirmed and there's a couple of things the controversies going on here first a they're asking how is kim jong un going to pay his bills for this hotel that comes from such a poor nation and this is a luxury hotel in singapore where the guys probably a billionaire we know that first of all but look the other organizations worldwide are taking a serious we are actually looking at organizations a giving money to the effort to. basically put their nice cushy suite in

singapore so that he makes it to this meeting at the same time kim jong un there are say three generals he's putting three new generals on top and he's changing some military people around two reasons for this either he wants the people that are going to be there or support the trump edition of whatever side or be he's scared that when he's gone there might be a coup so he's that people that are on his side are to correspondent allison heil of h. thank you as always alex thank you. finally let's talk then tendo and before you prove videogames contrary to all of the documented research about the evils of video games and there's a lot of it and for good reason but don't toss all such games out all together research now shows that some video games have a positive effect not only on our brains but contrary to popular belief on our behavior towards others some researchers conclude that certain gaming increases the

mass of gray matter in areas important for spatial orientation memory formation strategic thinking and fine motor skills when researchers let adults play nintendo super mario sixty four for thirty minutes a day for the two month study magnetic resonance imaging measured and compared with subjects which did not participate they found that more fun they had the participants playing the games the greater amount of grey matter was developed in the prefrontal frontal cortex and parts of the cerebellum the bottom line according to the study is that some brain regions can be trained through the use of video games and as if on cue nintendo is now offering three new pokie mind games the company is releasing quest in two new let's go games quest will feature small in game purchases called micro transactions watch out for those in game purchases a lot of micros can end up being. big macro the let's go games will cost more than

sixty dollars per piece the company is hoping this will boost sales of their video game console the nintendo switch which saw more than seventeen million units sold since march of last year with each one costing three hundred dollars apiece that's more than five point one billion dollars in sales even though some of the good news about positive brain function is now out there i guess when nintendo says gotta catch a ball they must be about talking about taking your bank account while nintendo stocks higher mark high watermark was back in two thousand and seven it's been on a fairly steady roll since two thousand and twelve and that's it for this time you can catch boom bust on direct t.v. channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v. the free t.v. app channel one thirty two or as always hit us up at youtube dot com slash boom bust r.t. will catch you next time.

to the summit can donald trump and kim jong il and start a meaningful peace process as well as what's italy's democratic process for the e.u. and much much more on this edition of cross. forman are sitting in a car when the fifth gets shot in the head. for a different version of what. one of them does on the death row there's no way he could have done it there's no possible way because the list did not shoot around a corner. to say anything he wants to say. you can't fire him you know it won't be another election until twenty twenty and he's gliding into twenty eighteen probably. many representatives

support in this election this year. standing steadfast in germany's chancellor stresses her commitment to the iran nuclear deal the israeli prime minister arrives in europe to lobby against. european parliament looks into the misuse of private data by scandal had a little while more revelations show it's now defunct company was involved in a secret counterinsurgency operation in yemen. as french authorities scramble to tackle the threat of radicalization in prisons are to travel to europe in large scale which guards say is overcrowded and security inadequate also ahead. and sits down for an interview with an austrian t.v.

giving rise to a wide ranging discussion that at times was remarkably frank. broadcasting live direct. to have you with us and the israeli prime minister is in berlin on the first leg of his european trip where he is looking to push for the two thousand and fifteen iran nuclear deal to be dropped following monday's talks benyamin netanyahu and german chancellor angela merkel took some time to speak with journalists or brings us more. well benjamin netanyahu certainly being trying on this first leg of his three day european tour where he's been meeting or will be meeting with e.u. leaders to try and convince them to follow the united states is lead and move away from the iran nuclear deal that was a very bad deal because it gave you are the capacity also to develop advanced sort

of features forty times more effective in the intervening years so that could have an unlimited enrichment capacity in a few years that's not a good deal we see that iran is devouring one country after the other and the deal also released a lot of cash for you ron well if what was said by the leaders on the podium is anything to go by we can pretty much gather that prime minister netanyahu would start angular merkel fell on deaf ears the german chancellor using her time addressing the media to say that germany and herself remain committed to trying to save the iran deal. we have differing opinions on the useful and productive in this of a joint comprehensive package of the four in this agreement we'll have more transparency that's the position we'll hold in germany well this is a pretty tough sell for benjamin netanyahu obviously doesn't seem like he had any influence on angle or merkel's ideas and expect pretty much the same as he heads to

london to paris that's because european leaders are upset at the move by the united states to pull out of the iran deal they cite the years of diplomatic effort that went into getting that deal in the first place the economic value of the deal to many european companies the fact that a lot of the senior officials in europe feel let down by the united states pulling out of this so we can really expect spend to netanyahu to hear similar things as he heads off to london to paris to government regrets the decision of the u.s. administration to withdraw from the deal what do we want to be. bustles there would have been line between americans. to stick so much in keeping these agreements number one time economic relations with iran we've been doing a great deal by the european union never to make sure that the nuclear agreement is preserved that the average trump has lost the bastard no one followed his decision

and now we have to make good on the feeling of obligation to. the work some concessions from angela merkel towards benjamin netanyahu she said that germany would provide diplomatic assistance with dealing with what many vignette and yahoo called iranian meddling in certain parts of the world so benjamin netanyahu goes off to try his luck with to resume may and emanuel might call next but you can well imagine a similar type of reception will be awaiting him in both london and in paris as well. cambridge analytic of the company at the center of a private data scandal is embroiled in yet more controversy investigative journalist max blumenthal has published documents which he says were leaked from cambridge analytic as parent company allegedly reveal that it had been collecting data from private military contractors in yemen here's artie's donald quarter. remember the cambridge analytical scandal millions of people's personal information being mined for financial gain and influence cambridge and a little it's actually

a data analytics company dedicated to one thing figuring out how to manipulate you at all costs this shadowy consulting firm right surreptitiously gained access to personal data mined from nearly eighty seven million facebook users weaponized personal data you have to look at cambridge analytics and some of the loss of trust cambridge analytic scandal this was a huge breach of trust well according to newly leaked documents from cambridge analytical parent company as c.e.o. it wasn't just for meddling in political campaigns in two thousand and nine s.c.l. carried out a surveillance operation in yemen called project titanium it involved a network of western trained operatives tasked with infiltrating local populations and identifying potential terror threats the nice thing focuses on identifying the groups that support or are conducive to violent jihadist recruitment project titanium was essentially a psychological profile operation against the hottest its architects wanted to find

ways to divert people away from islamised ideology field research is used to identify it clear into its past to do something target groups those who took part were deceived and led to believe that they were part of more innocent surveys but it was for a noble cause especially at the height of military operations against al qaida the s.c.l. group was acting on behalf of our camera a us based military company they get billions of dollars from the defense department for intel operations around the globe looks like they were doing government dirty work and not just for washington and i know that many other governments work with them as well it's not just the united states government i believe the brits work with them in other countries and that's just the tip of the iceberg.

when you look under the surface of these campaigns the private sector is creating a gray area risk free and where international law does not apply one of the more disturbing passages in it it was sort of language that was written in a sort of passive tense very euphemistically in the project titanic documents that i gathered from an internal company source is reference to eliminating. the young male target population if they can't be deterred from jihadist activity on the language wasn't exactly eliminating but you know resorting to other means and that tends to refer in my mind to drone assassination what my investigation demonstrates is that there's this gigantic web of firms whose names we don't know

who are operating in the darkness and they're being contracted by governments to not only spy in conflict zones and carry out counterinsurgency operations but to export those methods back into our electoral systems in the west. u.k. government's alleged involvement in the titanium project is based on its field operatives who are required to register with the british foreign office for travel advice on operations we asked the foreign office for a response on that however in their reply they only attached a link explaining what the travel advice service does. ahead of his first foreign trip since his reelection vladimir putin sat down for an interview with austrian t.v. in the russian capital the discussion touched on a number of topics and it led to some remarkably frank exchanges between putin and the host artie's within a question of the breaks down the highlights. at the beginning the answer you start is in a rather typical manner when it comes to foreign entities with the russian president

now lattimer putting was asked about russia's alleged role in modeling another country's elections about the perceived troll factory at the center of that effort at the internet research agency which is believed to be owned by mr precaution was a restaurant owner incent petersburg who vladimir putin knows. because you have just said that mr precaution is referred to as putin's chef indeed he runs a restaurant business it is his job if he is a restaurant owner in some petersburg but now let me ask you do you really think that a person who is in the restaurant business even if this person has some hacking opportunities and iron's a private firm in this field could use it to sway elections in the united states or european countries could it be that the media and political standards in western countries have reached such a low level with the russian restaurant can sway voters in a european country or the united states isn't it ridiculous once again letterman

putting stress that russia is not interested in interfering in other country's elections and rather quickly after that the conversation changed its course when armin wolf practically started firing questions at the russian president without stopping much to listen to the answers and that of course caught the president by surprise as the recipient of the two motorscooter you're pretty. much going to repeat this is going to. sleep with you in this because this winter there is a bit of the president a little seems to. put them both on. the top story tonight.