joining us on the phone is chris wheeler of atlantic securities. numbers,t the ubs negative rates are considerable headwinds, unlikely to change in the foreseeable future. it is tough out there being a wealth manager with a lot of fear in the market. themes that sergio impacted byout, lower interest rates and by wealthy clients sitting on their hands. sergio has pulled that out and his growth margins have come down another basis point, the mid 70's. points before the crisis was the benchmark. >> i will have a conversation with him in just under 30 minutes. , that had growth margins has been flat every quarter since last year, does that raise the possibility of more hiring freeze, digging a bit deeper into cost cuts at the bank? chris: that is the case. they focus much more on the net margins. that went up one basis point. my sense would be you are exactly right. i have to say, in the last three or four years, it has come right back into the fold in terms of being a focus of cutting costs. most banks around the world -- at bnpave been looking pariba

. >> joining us is chris wheeler and david levowitz. chris, let me kick things off with you. it's now a number for deutsche when it comes to the fine, what sort of fine could they stomach without their capital level being severely impaired, without them going back to the market to raise more? >> well, i think the $5.4 billion number is about what they can stomach, maybe a little higher than that, but not much higher than that. after that it becomes difficult. it makes me wonder or not if they can rebuild their capital over the next few quarters so they can actually wouldn't have it as painful. but obviously the news is suggesting this will happen quite quickly. >> that would be so much worse dragging things out right now. you have seen the volatility last week, you have seen massive amounts of speculation against deutsche bank shares, wouldn't that be a much worse outcome for them? >> no, the much worse outcome is massively diluted shareholders to pay settlement now. it would be much better to kick it down low. it wouldn't help them deal, but it would allow them to leave the

it is chris wheeler from atlantic equities. it is deja vu.out deutsche bank in a moment, and perhaps capping the recruitment. it is fixed income, it will save the world. this is fixed income trading, i am facetious. equities, will fixed income come to the savior of the q3 earnings? >> i think it will. clearly it was week last year. equities with strong this time last year because we had that sort of lockdown in august and a recovery in september. this time around we have seen much better stories around fixed income. we had volatility around foreign-exchange. that is good for fixed income businesses. equities -- there have been a downward appeal. we got a seasonal decline we normally get, which is quite nice, last year we did not get that because it was a wilder ride. anna: we did not see a lot of buybacks from u.s. banks this quarter, how does that fit with limitations as opposed by stress tests? >> there will be plenty of buybacks, clearly the u.s. banks they had their results in june, they were all generally given an uplifting amount of buy

and on the phone from london, chris wheeler, atlantic equities. we have this earnings call tomorrow for wells fargo. what would you ask on that call? chris: good morning, first of all. the thing i would ask first of the importantg on thing from the investor perspective. what do you think this is going to do to your earnings profile over the two years? one has to assume that the level of cross-selling that is taking place within the bank, which has been a major driver, has fallen quite sharply, because clearly longerre not only no incentivized, but they must be really nervous about compliance issues of doing any cross-selling. you have to add, what is the impact on wholesale banking and the very high-profile moves by the state of california, illinois, and chicago? that is the first question. david: i believe this broke september 8. they have had some time now. do you think they have read -- real data on how this might have affected or not affected their core business and retail? chris: i think it will have initial data. i think the staff reaction, w

we're joined with chris wheeler. great to have you with us on the program. big question then.bond side of things in the united states, massive. did they take market shares off deutsche bank? >> yes. i have to say that most peep probably beef they did. deutsche bank is distracted by a whole host of items that they had to deal with. the europeans will do better in 2016 because when the markets performed the way it did, everybody in -- enjoy sommed benefit. but what we'll certainly see is u.s. banks have continued to take share and that's partly because the u.s. market has been so much better. cryer n:on how does john navigate because he can't give s an update until he knows the materials? >> i think i've said to you and your colleagues many times. for john t a small victory here and there. and he will be posting some small victories within the numbers. people expecting another loss. there's going to be a question mark about can they gather anything for additional litigations in the quarter. and also as we just touched on, you know, are they still getting revenue coming in the do

wheeler. at least 13 people died and chris martinez has the latest from north palm springs which is about 100 miles east of los angeles. >>> a crane was needed to separate a tour bus and tractor- trailer on interstate 10. the bus plowed into the back of the truck very early sunday morning. >> in almost 35 years i've never been to a crash where there's been 13 confirmed fatal accidents, so it's tough. >> a survivor told police most of the paser first responders used ladders to reach the victims because the door was inaccessible. >> the trailer itself entered about 15 feet into the bus, so you can see that it was a substantial impact. the bus was traveling significantly faster than the tractor-trailer that had struck from behind. >> the bus driver died in the crash while the truckdriver was injured as were dozens of bus and therefore were flown through the air and ended up sustaining facial trauma. >> the bus was heading west on i-10 back from los angeles from a casino near palm springs. the 1996 bus was inspected earlier this year. >> and no mechanical deficiencies were noted. >> federal recor

chris platt, threw the fast ball in there. >> brian: that was a heater. he's anticipating. right around the linebacker 45 wheeler. little too high and hard. 17. >> steve: baylor with 343 yards on the ground today. and again, still a ton more football to be played. and a five-point game. it's williams. tackled from behind. >> todd: texas has more to a si an extra body inside the box to defend the run. they realize that baylor is working them up front defensively and so they're trying to get that extra guy in. you wonder when they're going to take that shot vertically off the play action. >> steve: we got a good shot there of shock linwood watching from the sideline. hasty is in the game. >> brian: there has to be some reason, i don't know if he was is linwood's spot. >> steve: another great fake by russell. leaps a defender and stays on his feet. down at the 5. seth russell! showing all the athleticism, a gain of 29. >> brian: lamar jackson who? i mean, this is unbelievable. this is a guy that broke his neck last year. almost was paralyzed and that's dylan haines, goes right over. >> steve: dylan haines is 6'8," h

chris platt, threw the fast ball in there. >> brian: that was a heater. he's anticipating. right around the linebacker 45 wheeler. little too high and hard. 17. >> steve: baylor with 343 yards on the ground today. and again, still a ton more football to be played. and a five-point game. it's williams. tackled from behind. >> todd: texas h single-high safety look to get an extra body inside the box to defend the run. they realize that baylor is working them up front defensively and so they're trying to get that extra guy in. you wonder when they're going to take that shot vertically off the play action. >> steve: we got a good shot there of shock linwood watching from the sideline. hasty is in the game. >> brian: there has to be some banged up or what, normally this is linwood's spot. >> steve: another great fake by russell. leaps a defender and stays on his feet. down at the 5. seth russell! showing all the athleticism, a gain of 29. >> brian: lamar jackson who? i mean, this is unbelievable. this is a guy that broke his neck last year. almost was paralyzed and that's dylan >> steve: dylan haines is 6'8," he neede

chris platt, threw the fast ball in there. >> brian: that was a heater. he's anticipating. right around the linebacker 45 wheeler. little too high and hard. 17. >> steve: baylor with 343 yards on the ground today. and again, still a ton more football to be played. and a five-point game. it's williams. tackled from behind. >> todd: texas has more to single-high safety look to get an extra body inside the box to defend the run. they realize that baylor is working them up front defensively and so they're trying to get that extra guy in. you wonder when they're going to take that shot vertically off the play action. >> steve: we got a good shot there of shock linwood watching from the sideline. hasty is in the game. >> brian: there has to be some is linwood's spot. >> steve: another great fake by russell. leaps a defender and stays on his feet. down at the 5. seth russell! showing all the athleticism, a gain of 29. >> brian: lamar jackson who? i mean, this is unbelievable. this is a guy that broke his neck last year. almost was paralyzed and that's dylan haines, goes rit >> steve: dylan haines is 6'8," he needed to b

chris platt, threw the fast ball in there. >> brian: that was a heater. he's anticipating. right around the linebacker 45 wheeler.high and hard. plenty of arm strength, though, 17. >> steve: baylor with 343 yards on the ground today. and again, still a ton more football to be played. and a five-point game. it's williams. tackled from behind. >> todd: texas has more to a single-high safety look to get an extra body inside the box to defend the run. they realize that baylor is working them up front defensively and so they're trying to get that extra guy in. you wonder when they're going to take that shot vertically off the play action. >> steve: we got a good shot there of shock linwood watching from the sideline. hasty is in the game. >> brian: there has to be some reason, i don't know if he was banged up or what, normally this is linwood's spot. >> steve: another great fake by russell. leaps a defender and stays on his feet. down at the 5. seth russell! showing all the athleticism, a gain of 29. >> brian: lamar jackson who? i mean, this is unbelievable. this is a guy that broke his neck last year. almost was para

wheeler truck this morning. >> at least 13 killed and 31 more injured. chris martinez has the latest >> reporter: a crane was needed to separate a tour bus and tractor trailer on i-10 in north the bus plowed into the back of the truck early saturday morning. i've never been to a crash with 13 confirmed fatal accidents. >> reporter: they said most of the passengers were sleeping at the time of the crash. first responders used ladders to get to the victims. >> the truck went about 15 feet the bus was traveling faster than the truck. the bus drive ever died in the crash as were dozen-and the driver of the truck was injured. >> the bus was coming from a casino near palm springs. the 1996 earlier this year. federal records show the bus company involved owned one bus and had one driver. chris martinez, cbs news, north palm spring, california. >> when she collided with the guardrail she vaulted into the air a good 30 feet. >> that driver is still in the hospital tonight after her caroled over near 40 street and airport. troopers say the woman suddenly veered off the

that's just life, that's normal to you.l >> riding around on four wheelers with michael jackson and chris s tucker at 14 years old att neverland. it didn't faze me.idn't ze m bruce willis would come to my tm shows.ow hi, bruce, what's up?s up? >> bring his daughters.aurs he hired me to do his daughter's sweet 16. 16. >> i'm going to say the vast ths majority of of our viewers areia huge michael jackson fans. fans. >> yes. >> fun times hanging with michael jacksonun tim.. >> michael taught me a lot, you know, he gave me such a giving g gave me the jacket right off his back.back >> still have it. m-hmm.>>m- >> that's awesome.s ome. >> it's in a vault in florida. o when you look back now on yourr teenage years and now you look l forward to the music down thehe road the aaron carter down the n road do you take anything fromfr the past and use it to your benefit or that chapter i'll chr leave it in the past? p >> not necessarily.sarily. no. for me it's a little different.d like i'm not going to be that ba toe nostalgia act. a i rather do what i feel is right and fail than do what every tempora

chris platt, threw the fast ball in there. >> brian: that was a heater. he's anticipating. right around the linebacker 45 wheeler. little too high and hard. 17. >> steve: baylor with 343 yards on the ground today. and again, still a ton more football to be played. and a five-point game. it's williams. tackled from behind. >> todd: texas has more to a single-high saty an extra body inside the box to defend the run. they realize that baylor is working them up front defensively and so they're trying to get that extra guy in. you wonder when they're going to take that shot vertically off the play action. >> steve: we got a good shot there of shock linwood watching from the sideline. hasty is in the game. >> brian: there has to be some reason, i don't know if he was is linwood's spot. >> steve: another great fake by russell. leaps a defender and stays on his feet. down at the 5. seth russell! showing all the athleticism, a gain of 29. >> brian: lamar jackson who? i mean, this is unbelievable. this is a guy that broke his neck last year. almost was paralyzed and that's dylan haines, goes right over. he needed to be 6'#

chris platt, threw the fast ball in there. >> brian: that was a heater. he's anticipating. right around the linebacker 45 wheeler. little too high and hard. 17. >> steve: baylor with 343 yards on the ground today. and again, still a ton more football to be played. and a five-point game. it's williams. tackled from behind. >> todd: texas has more to a single-hig an extra body inside the box to defend the run. they realize that baylor is working them up front defensively and so they're trying to get that extra guy in. you wonder when they're going to take that shot vertically off the play action. >> steve: we got a good shot there of shock linwood watching from the sideline. hasty is in the game. >> brian: there has to be some reason, i don't know if he was is linwood's spot. >> steve: another great fake by russell. leaps a defender and stays on his feet. down at the 5. seth russell! showing all the athleticism, a gain of 29. >> brian: lamar jackson who? i mean, this is unbelievable. this is a guy that broke his neck last year. almost was paralyzed and that's dylan haines, goes right over. he needed to be 6'#". her

chris platt, threw the fast ball in there. >> brian: that was a heater. he's anticipating. right around the linebacker 45 wheeler.high and hard. plenty of arm strength, though, 17. >> steve: baylor with 343 yards on the ground today. and again, still a ton more football to be played. and a five-point game. it's williams. tackled from behind. >> todd: texas has more to a single-high safety look to get an extra body inside the box to defend the run. they realize that baylor is working them up front defensively and so they're trying to get that extra guy in. you wonder when they're going to take that shot vertically off the play action. >> steve: we got a good shot there of shock linwood watching from the sideline. hasty is in the game. >> brian: there has to be some reason, i don't know if he was banged up or what, normally this is linwood's spot. >> steve: another great fake by russell. leaps a defender and stays on his feet. down at the 5. seth russell! showing all the athleticism, a gain of 29. >> brian: lamar jackson who? i mean, this is unbelievable. this is a guy that broke his neck last year. almost was para

chris pallone has the latest on the investigation. >> reporter: federal investigators are now examining what's left of a tour bus in the 18-wheeler it slammed into sunday morning killing 13 people. you're k loing for answers for a question that might befr be answered. how did this happen? >> our investigators will work on scene to accident site and gather factual information. it happened during a return trip back to los angeles. the tour bus had to be traveling much faster than the 18-wheeler. the bus ended up at least 15 feet into the truck's trailer. more than 30 people were injured. federal records show the usa holiday bus had a satisfactory safety record. vision impairment, impairment by alcohol or other drugs. >> one often worried about her early morning casino trips. >> i tell her to careful. >> sock victims remain in critical condition, but all of them are stable. chris pallone, nbc news, new york. >>> if you are still using your samsung galaxy note 7, might want to forget about it when you get on an amtrak train. the rail company is banning the phones from its platforms buzz of safety concerns. there have been about 100 repo