the banks you get to keep all of that. they want then national bank to play a key role in the future. private banks would only be allowed to is you loans if they have the money in their vaults one hundred percent secure private banks would not be allowed to create deposit money anymore and the profits from this privilege would also benefit the national bank the general public other women as the national bank is obligated to look after their well being. and of them must the group want the creation of money to be state controlled and not in the hands of private banks billions in interest payments would then flow into the public purse. system. you know i support these various initiatives banks wouldn't be able to create new money they'd have to work with the money they have and deposits and that's a good first step it's not enough but it's an important step on the path towards a fair financial system vision to go sort of the big sort of feel good system. it appears absurd on the one hand the world is flooded with cheap money but at the same time some places have none of the places that don't offer big profits right away but that in the lo

the day that manafort set up the loan. they were hugely outsized compared to the resources. that $16 million that the bank handed over to paul manafort, those loans represented near hey quarter all the loanable assets for that little bank. in february 2018, nbc news reported that robert mueller's office, special counsel's office, was looking into those loans to paul manafort during the transition. and somewhat ominously for paul manafort, and for that little bank, nbc reported in february that, quote, the three loans to manafort were questioned by other officials at the bank. one source told nbc news that at least one of the bank employees who felt pressured into approving the manafort deals is now cooperating with investigators. eek! that same day "wall street journal" reported that the bank's decision to give all that cash to paul manafort during the transition might have been part of an almost too dig to be believed quid pro quo. around the time his bank made the manafort loans in late 2016 and early 2017, steve calk was seeking to mr. trump's secretary of the earl. like the u.s. army. secretary doesn'

the bank's decision to give all that cash to paul manafort in the transition might have been part of an almost too ridiculous to be believed quid pro quo. around the time his bank made the manafort loans in late 2016 and 2017, the chief executive of the chicago bank was seeking to become secretary of the army. now, like the u.s. army. secretary doesn't always mean highest job, but being secretary of the army mean this is guy from the chicago bank who has given this money to paul manafort, he thought he was going to run the u.s. army. mr. caulk was placing calls to the spent gon and specifically to army hundred quarters asking for briefings to obtain information and preparing himself for a possible job according to a person familiar with the inquirienquiries. his overtures raised questions with military leaders as to how to respond. the "wall street journal" was first on the story out of the gate. they had the initial reports on something unusual having happened between the trump campaign chairman who resigned under the weird cloud related to russia and the bank in chicago. they had the first reports in the spring of 2017 not long after the inauguration and the journal stayed on the st

the banks you get to keep all of that. they want then national bank to play a key role in the future. private banks would only be allowed to issue loans if they have the money in their vaults one hundred percent secure private banks would not be allowed to create deposit money anymore and the profits from this privilege would also benefit the national bank the general public of the women's the national bank is obligated to look after their well being. and if they must a group want the creation of money to be state controlled and not in the hands of private banks billions in interest payments with then flow into the public purse. this is. who i support these various initiatives banks wouldn't be able to create new money they'd have to work with the money they have and deposits not so good for . step it's not enough but it's an important step on the path towards a fair financial system has a vision to go short of the big sun feel good system. it appears absurd on the one hand the world is flooded with cheap money but at the same time some places have none of the places that don't offer big profits right away but that in the long term wo

two thousand and eight financial crisis triggered by the collapse of the investment bank lehman brothers under a huge burden of bad loans banks around the world folded one after another trillions were lost the world economy went into standby mode bankers and the crisis that's what we're looking at today on mate it has become the stuff of thriller like this one behind me starring leonardo di caprio in the wolf of wall street a german t.v. show also looks at how a young career obsessed investment banker brings the world of european finance close to collapse with the addition of a few characters and plot twist the banking crisis has been turned into compelling and tent but how realistic is that show well our reporter found frighteningly realistic. frankfurt the high octane world of international finance the pressure to succeed the seductive pull of prestige and power. good shoes. great shoes but that's the work that's stock work being aggressive. and i need you guys i need your balls i need i need your vision so i did that by. the german luxembourg t.v. series bad banks takes viewers deep into the world of investment banki

the fed continues to raise rates? there are three reasons banks are doing better than the european banks. the bestming loans think about u.s. banks versus european banks is to look at nonperforming loans. all of the bank loans were taken away from the u.s. bank balance sheet. we tried to return this to normal activities. nonperforming loans actually piqued in 2013 and 2014. it took a lot longer. at the moment, we have a about four years of decline in nonperforming loans -- about four years of decline in nonperforming loans. t is a lot harder to make money from normal lending activities. a lot of those loans are from southern rather than northern europe. it makes it difficult for those banks to make money. ecb flatter yield curve putting pressure -- we see the flatter yield curve putting pressure on income. we have a stamp stand chile larger -- substantially larger proportion of banks -- a lot better this year. u.s. banks are being helped a lot more than european banks. the european economy relies a lot more on its banking sector. we may talk about that further down the program. withxt, what is going on some

again, the charges that paul manafort is facing here in virginia have to do with some of the loans and his failure to pay taxes, or even declare some of the bank loans or bank accounts that he allegedly had in cyprus that allegedly came from ukrainian and russian government tied accounts. so these are all things that the prosecution and the defense are trying essentially to try to keep the russia and the trump questions out of this trial, wolf. >> the trial has been delayed briefly to july 31st. we'll watch it unfold then. evan, thank you. joining us now, republican senator, marco rubio, florida. he serves on both the intelligence and foreign relations committees. senator, thanks so much for joining us. >> thanks, wolf. >> let's get to some important issues. a lot to discuss. first of all, the president is now looking to revoke the security clearances of key intelligence and law enforcement officials. are you concerned about the precedent this might set? >> well, first, i think you meant to say former intelligence and security officials. not active ones. >> yes, former. >> okay. >> who served for many, many years in republican and democratic a

lemonis: so, the bank loans are somewhere around $630,000. scott: mm-hmm. d so, if i take the accounts payable and the bank loans, i'm pretty close to a million dollars. scott: $900,000-something, yeah. lemonis: we're drowning in debt right now. wendy: my kids and i, we all agree as a family he needs help. this might be it. lemonis: are the kids here now? wendy: jackie? lemonis: business like this has to constantly evolve. and so, what we're talking about is kind of the number of issues that exist inside the business. jackie: i mean, just based off of our conversations at every dinner table, we're wearing too many hats, and we're involved in so many things. and i think that that's gonna, like, run us ragged after a while. lemonis: does he give you the opportunity to do your job fully? jackie: no. ben: that's the thing that bothers me the most. lemonis: 25 years ago, scott came in, and he saved this company. now scott needs to let his kids do for him what he did for his father. if it's okay with you guys, i'd like to spend a minute with your parents just alon

lemonis: the bank loan. -$100,000. -john: yes. lemonis: and so, you're trending down. -right? -john: correct. lemonis: well, i'll give you a lot of credit, both of you, for putting together solid financials, but i don't know how responsible you are in managing the people here, and the biggest risk in this business right now -- -it's you guys. -john: oh, yeah. -we're what's broke. -becky: yeah. that's why i called you. lemonis: but i'm not a guidance counselor. becky: oh, i know, but... lemonis: you know what i like about both of you? becky: [ laughs ] lemonis: you have passion. even if i don't agree with the content all the time, you have passion, and that's not something that you can teach people. the criticism that i have is that the business is bigger than both of you. john: agreed. lemonis: you guys made this investment together. you're either gonna go forward together, or you're gonna burn together. i want to do business with people that will always do the right thing without conditions. but i just can't understand it. i need you to explain to me again why it is that you

they aware of any services that violate the freedom of information acts on kennedy's son and the bank loans and connections there? the second one is will the president be asking putin if he plans to return the 14 russians that have been indicted by the american grand jury and if trump himself plans to pardon 14 russians. we have been asking that and we have been wanting to know and as far as future elections come up is simple, 2020, it i will vote against russians and republicans. host: the president cannot pardon foreigners and you need to explain what you were a referring to with regard to kennedy's sons. caller: justice kennedy. host: justice kennedy. guest 2: i think the caller is referring to justice kennedy's son was a banker that had dealings with the trump company on the floor of the house at the state of the union, trump data point of going up to justice kennedy and saying give my best to your boy and that has recently been revealed as the tie between them we were not aware of before. host: we want to go to a story you wrote, andrew egger, because he is in the spotlight following t

but the rest of us, the bank would not give me a consumer loan in the 1920s but banks also offered mortgages, so, there's different sources of credit in the 1920s, nevertheless, consumer credit was not available to most americans, most of this credit except for pawnbrokers and small loan lenders, that would have been credit issued to get them by for the next week. this would have mostly been available to the top quarter of the american population. >> and economy as productive as the american economy that couldn't go on this way. 60 % of americans getting five % of the wealth, wages flat, credit available but not widely available, not available to everyone. the economy needed to find a way for americans to be more a wide set of consumers. we are back to the point to think of the great depression and what happened. i'm certain you guys could figure out the answer at this point or the answer that i propose. the answer that makes sense in the history of consumer culture. the great depression was a crisis of abundance. we, the united states had figured out how to grow to make a tremendous amount,

the people's bank of china has injected $74bn of cash into the country's banking system through loansy the central bank to react to fears that the country's main banks may be suffering from a credit crunch. the government of indian prime minister narendra modi has cut the sales tax on 50 products, to boost consumer confidence and spending. narendra modi is seeking a second term in 2019, amid voter frustration over the abrupt implementation of a nationwide 6oods and services tax a year ago, that has hit businesses and the general public hard. 6lobal miner bhp has been served with a class action over the samarco dam failure in 2015, which killed 19 people. bhp hasn't specified who filed the action, which will proceed in the federal court of australia. business correspondent sarah toms has more details. tell us more about this disaster. about 3000 investors have signed up to participate in this action and the class action alleges bhp violated its disclosure obligations, that it didn't inform the market of the imminent risk of failure, and of course the class—action also accuses the globa

the doors of savings and loan institutions in ohio didn't mean a thing. the doors were locked. >> the run on ohio savings and loans began when home state savings bank were besiegedhat. >> i made a decision after weighing several options we had to close all 71 of the privately insured savings and loan institutions. >> they're faced with the dilemma of solving the worst financial crisis in ohio history, the situation that's being called the worst banking crisis in the u.s. since the depression. >> the deregulatory climate, savings and loans which had traditionally invested only in mortgages, were free to invest in pretty much anything they wanted. >> the entire s & l industry got taken over by a bunch of entrepreneurs who saw them as piggy bankings. >> vernon savings was shut down and saddled with $1.3 billion in bad loans. the owner lived a life of private jets and mansions. >> they took risks that should have been untenable for a banker. when it all went down, the entire industry went belly-up. >> quiet down! >> i'm going to disperse the whole bunch of you. >> this was the third day on the run on the savings and loan corporation. >> i have no choice, we have to

loans. some bank employees raised issues with some of what paul manafort described in the application for the loan and the accusation from prosecutors at this trial and and perhaps maybe the only mention of the trump campaign that this bank executive essentially proved this loan under the idea that perhaps he would get a job in the trump administration so that will be evidence prosecutors intend to present. employ grise tees from the bank testify but the bank executive won't testify and those employees are two of the five witnesses who got immunity from prosecution by the judge so that is going to be an interesting moment because perhaps that will be the only mention at this trial of any link to the trump campaign. >> and shan in terms of paurt himse -- manafort himself, we don't know if this will make it to the final trial. but so many legal experts are pointing to what an uphill battle manafort faces against these 32 charges. why do you think he refused time and time again from the mueller team and to see this through. >> not based on inside information. i think his team has been addiment f

the last increase. banks don't have pricing power. citi doesn't even get 2% on their loans. h the other big banks. they have a problem with price because they are so big. the smaller banks, not so much. bbt, their net interest margins is in the 4.5% range. i think the fed has cap returns for a lot of leverage investors and when it catches up, we are going to get squeezed. is like the movie star wars when they are caught in the trash compactor. that's what is happening with banks. they see a flattening yield curve and they know what that means for leveraged investors. ramy: we will have to leave it there. looking ahead to financials tomorrow. we've got an alert for you on the yen. it's just weakened to its lowest since january. u.s. dollar is what he just did in the past minute or so. the lowest since january. we will continue to talk about this if it continues to weaken. paul: that's almost it for daybreak australia. you and yvonne man are going to have plenty to talk about going into daybreak asia. what have we got coming up? yvonne: looks to be a pretty risk on day. still w

the top. deutsche bank coming out with very surprising news. blackrock also beating, a real big warning from the ceo. let's start with bank of america. what was really the strong point for this bank, the increase loanso individuals or consumers at a much faster rate and then rivals. the second quarter beat analysts. this added to cost cuts to boost the prophet. let's take a look at deutsche bank. this is a company under major construction with a new ceo. they came out with a pretty earnings announcement. they expect to exceed estimates. wow. analysts were impressed with that. blackrock, they also beat. the ceo really stealing the headlines. he was warning that there could be a real negative consequence from the trade wars and we will get to that and hear from him later. su, the tech trauma was netflix at the lack of new hit shows surprised that. it is all seeing the stocks tumbling or this puts a dent in the nasdaq on tuesday. su: this could have major implications to let's go to the after hour chart. you can see the major moves we are talking about. down as much as 15% are well into the extended trading. we are still down quite a bit. reallyry is that netflix disappointed on the subscriber front. t

the 19th century. you might have carried, in those days a dollar bill. but all such notes were banked by the loans and investments and capital of the issuing bank. they were not fiat money. the dominant historic trend in money has been to create ever more central bank monopoly of currency over several centuries of development. computing power of our time reversed this trend and create more competition in krns curre with dr. michel, i think it might be a good idea but don't think it will happen. bitcoin supportives imagine it will but i think it's easier to imagine to moving in the opposite direction, greater monopoly of the central bank through digital money. mr. foster made the point it's not only our own central bank but other powerful central banks we might think about in this context. and many central banks are, indeed, interested in having their own digital currency. general public, not only banks, could have deposit accounts with the central bank in addition to carrying around its paper currency and the appeal of this idea to central banks is natural. it would greatly increase their size, ro

the doomed loop between banks. and government budgets so if there if these banks whole lots of government debt seven dead of their own country then once you have a banking crises and there's many non-performing loans in the talian banking system then this could lead to a national crisis that. we would have another bailout program perhaps for italy and italy might be too big to fail it points to the. attention new bailout program one of the ideas actually put forward by the french president and on the way back on and that matters in favor of is this european monetary fund to help countries in crisis could you imagine though a fund whereby it was the funds automatically release or we're going to go through something arduous what each national parliament needs to say yes this country can have this money it is a big question also of national sovereignty and you know no taxation without representation and should the type for example the german government still have a say over tax payers money which is a constitutional issue and so it so that it really depends whether how this european monetary fund would then look like legally also in terms of volume and we now agreed on something like a euro zone budg

before the financial crisis the banks of the publicity loans while regulators looked the other way. taxpayers were left holding the bank because they didn't have enough capital to stay afloat. dodd frank including two major reforms to make sure this never happens again. first the rules that need higher capital standards so they are better equipped to handle the losses. and to take the annual stress test to make sure they are not taking on too much risk. they've ruled back on both of these reforms. and i just want to explore what that means for the economy. in april, they proposed an amendment delivers the enhanced leverage ratio that is the special capital requirement for the too big to fail banks. the fdic claims that this would allow the bank's to maintain $120 billion less in capital, but the fed disagrees with the fdic assessment. why is that? >> is on the consideration. also we think if you look at the entire entity it would be less than $1 billion i would say zero but our estimate is 400 million. >> so you think that it's $121 billion estimate is made up? >> they are talking ab

the bank said the loan terms were disclosed, and its investigation found one broker violated u.b.s.ci. as for its former employee, carlos capacete, it called him disgruntled and said he'd sued the company. though they didn't acknowledge wrongdoing, u.b.s. and fr other banks were fined by regulators for practices that failed to protect theiric puerto r clients. billions of dollars of wealton the island had been wiped out. and after years of rampant borrowing, the govnment's financial viability was being wiped out, too.pi the island wasling toward default. >> seven years of recession, chronic deficits, lots of borrowing. now puerto rico owes more than $70 billion. >> the government's story was always, "we're going to reduce the spending this year," right? "we're going to raise more money," you know? "we're going to get this under control. , ll, they never did. >> unfortunatelythe government of puerto rico was run as a big ponzi scheme. and what you had was eentially a ack box of a government running that had no clarity as to what was beinborrowed and what was being spent. >> sullivan: b

lower costs help bank of america top earningsti tes, that's where we begin tonight's market focus. the savings and a rise in loan growth help the bank's profits rise at a faster than expected clip. revenue edged higher in all of its visions. and shares rose as a result by 4% to $28.78. black rock said higher fee and strong performance helped it turn a better than expected profit, but the world's largest asset management also said that less demand for its etf's as investors rangeled wit market uncertainty last quarter, that took a toll.>> shares fell as a result. >>> higher shipping ratesnd more deliveries helped jb hunt top earnings expectations even as it operated a smaller fleet of trucks. sharesere initially higher, but did reverse on analysts concerns that the company did not rise guidance, and that the pouck market may have peaked at this t. they finished off about half a% to 121.13 today. valley and pharmaceuticals changed its name today to baush health.l n an effort to distance themselves from a number of accounting and drug pricing investigations that happened under previous management. bausch r said the

the state chartered banks. or, in the 19 century. you might have carried in those. also to know. they were banked by the loans in investments in capital of issuing bank. the dominant historical trend in money has been to create evermore central bank. what create more competition and currency. in the famous economist. i do get might be a good idea but i don't think it will happen. i believe it's easier to imagine. that is towards even a greater monopoly by the central bank through digital money. mr. foster make the point is not only our own central bank but other powerful central banks we might think about in this context.. the general public. in addition to carrying around its paper currency in the appeal of this idea to central banksar as a natural. it would greatly increase their size, their role in their power. there is not much singing in the way. with all private banks. that's where tried to develop out of. could a federal reserve digital deposit account system grab half of them might not. it would be $6 trillion which would ask that the balance sheet to $10 trillion.an it's to remember that if you had d

and the bank manager basically was aware of it, covered it up and granted the loan. bank manager could very well have a fifth amendment conviction against self-incrimination. so he or she could testify at paul manafort's trial without fear of reprisal. >> let me ask you again about the requests, these requests are not unusual to move the trial as tom said. also, manafort's team wanted the trial date pushed back. we're still waiting for the judge on that. is there anything out of the ordinary about all of these requests? >> there's nothing out of the ordinary, first of all, with respect to motion to change venue. that is move the location of the trial from alexandria, virginia, to another jurisdiction, farther outside of the washington, d.c. area. in my nearly 30 years as a prosecutor, i have never once seen a judge grant a change of venue motion. it just doesn't happen. particularly in a case like this, where the publicity is not just nationwide, it's worldwide. and so, i don't think that's unusual. i also do think that judge ellis will continue to deny motions to co

the state run banks, and curbed lending further. the central bank came out with a new circular which removed other measures to stop these bad loans, and, focus banks to go towards the bankruptcy code. banks have been using that and aher measures, according to lot of analysts and investors we have spoken to, saying this is what would really help solve this problem we are having. francine: thank you so much, our south asia managing editor. let's keep an eye on emerging markets. still with us, peter dixon and grace peters. when you look at india, is there any value. anything that looks attractive? peter: i think you buy-in for long-term growth. i'm not a specialist in that particular economy, but looking on a country basis, that is what i am buying. i still prefer it to the likes of china. it longer-term growth prospects are not that much stronger, but of course, it has a major bad debt problem. , i don't thinkay is as bad on an aggregate basis. as the bank of china which has a huge debt build. potential,ia offers it is one of my favorite emerging markets, as it were but has made policy mistakes along the way. suggest that the policy can

the market, crude getting hit. bank of america, a mixed quarter when you look at the details. and investment banking and revenue came in better than expected. investment banking fees did slump. the loank was only up by 2%. is i going to be a demand issue? -- is that going to be a demand issue? also going to take a look at deutsche bank, european banks keeping stock stable as they wind up surprising, their second quarter earnings were higher than expected. euros and income before taxes of 700 million, above estimates. preliminary results point to stronger revenue than previously predicted. let's get an update on what is making headlines. kailey leinz is here. >> the summit is underway and health thinking. president trump and vladimir have begun a session joined only by translators. mr. putin at the beginning of the session that he expects to discuss trade and china. there is evidence that saudi arabia is paying attention to president trump's call to increase production. they're offering extra crude going to buyers in asia. president wants to pump more crude before congressional elections in november so gasoline prices can come down. the impact of a trade war is hanging over china. sho

curve, that's a nice cash back return at the bank o'leary, then, what's wrong with the story that mike mayo is writing? >> so mike, let me ask you about that loan book theory. half the money going into money center banks now is the idea that rates might go up you love the fact that they have been very good loan books. not a lot of delinquency let's call another 25 to 50 beens of cost to those loans the bottom your tile, the marginal loan, starts to default when that happens. that theory that you're buying into the cleanest balance sheet in history goes outdoor when rate hikes start to push on the marginal loan out there. that happens at the regional level where a lot of scrutiny has been done, and also in the big money center banks too why would i get excited about a clean, clean, clean book that can only get worse if rates go up i don't buy that premise at all. >> i think your rur summarizing what i would call the banking paradox. people say sell the banks, and then, the argument is ignore the fact that banks are super safe and people want banks to return more capital so the concern is, well, sell the banks because they're risky. but then sell

two thousand and eight financial crisis triggered by the collapse of the investment bank lehman brothers under a huge burden of bad loans banks around the world folded one after another trillions were lost the world economy went.

before the financial crisis the banks of the publicity loans while regulators looked the other way. taxpayers were left holding the bank because they didn't have enough capital to stay afloat. dodd frank including two major reforms to make sure this never happens again. first the rules that need higher capital standards so they are better equipped to handle the losses. and to take the annual stress test to make sure they are not taking on too much risk. they've ruled back on both of these reforms. and i just want to explore what that means for the economy. in april, they proposed an amendment delivers the enhanced leverage ratio that is the special capital requirement for the too big to fail banks. the fdic claims that this would allow the bank's to maintain $120 billion less in capital, but the fed disagrees with the fdic assessment. why is that? >> is on the consideration. also we think if you look at the entire entity it would be less than $1 billion i would say zero but our estimate is 400 million. >> so you think that it's $121 billion estimate is made up? >> they are talking ab

there are problems with the smaller midsize banks in china, but the big state-owned banks have built up capital. the real question there is how much in the way of shadow banking loanstheir books? this is part of the famous reform which i think is necessary and which they were concerned about. stay with us. the global advisor president and ceo stealing -- staying with us good luck more to talk about, but getting this line crossing the bloomberg concerning what we have been reporting about the china tower ipo, eight dollars hong kong -- $8.6 billion hong kong based on the share prices and -- $1.26 hong kong 43.1 billion shares. this is china tower, the state-owned wireless infrastructure operator. it has attracted a unit of alibaba group as cornerstone investors. at that valuation we are looking at a yield that would be the biggest ipo in the world since alibaba which was four years ago. not a great time for this listing to come to the market. the hang seng is down from the highs of january and other major ipo's we have had this year, high-profile ones like xiaomi have been a disappointment. lots more to come on that story but also grace were an avalanche of earnings

the. same. old. south. with. let's. not assume. you. look. close. quote. oh good. god. told our. banks. to loan him saying. oh. you old. dog bring the church. played. i. told me. me. cuts. and runs hard with this. but nolan for his it leaves a lead goal says ma ma ma you told me you show love playing tug was luck. bought call you lol. good you are awesome stop smoking. where was a good thing for you the big drug policy. goal that. would lead to more. with no leg tang please. go believe you're listening to you me. every tom burke you. tell me you the word. the old. snob and the money should not fall and som goalless listening nolife this since ma call your own home. use yolo. ah ah ah ah long you told. me her to suck the bowl. loose long leave. me let's. see. lol. lol lol lol you know love. you. mom. it is. it is helps it in. the long. long. long. long. long. haul. lol. huber her out and thought oh. hurry up to find out. her. job. move. move move move move move. move move move. move. along the trail up. now on. everybody. on the moon mom nannies in the movie move. beyond the time. movements you are going oh. oh . good lu

foot the bill myself and hope that the irish insurance system pays me back we also can't get loans for a house t.v. or car because we earn our income abroad and foreign banks won't give loans in spain. given the. ryanair has published information about its benefit packages and average wages much to the surprise of all sky he claims take home salaries are around twenty thousand euros instead of the thirty four thousand ryanair claims. ryanair is lying they're trying to get the public on their side but we were never interested in numbers or wages this is about our working conditions respect we don't want to be insulted or threatened we want to work without being afraid. and what have strikers achieved after the first day in spain at least not much the country's transport ministry said a minimum level of flights must take place hamstringing new numbers. off in iran i don't think there will be more protests we won't kowtow to ryanair we won't let them take advantage of their employees or let the authorities management or passengers laugh at them if things with anyone in the majority of ryanair flights in and out of spain did take place on the first day of the

something you could take to the bank to get a loan on is just silly he's a very smart guy he will say the right things in order to make it possible for collins. to vote for him but quite frankly the this is not a court that exhibits great respect for precedent and it's not a certainty i agree that was said before if it's not a sure thing he could surprise us i also agree that chief justice roberts is key on this but if you were a betting person it would be for wish to put a lot of money on the survival of roe ok. matthew you mentioned before that there's no filibuster that even if. even if cavanagh does get the votes he needed we saw in two thousand and sixteen obama's nomination judge merrick garland was blocked by the republicans can there not be some sort of ploy that the democrats can pull out of the bag this time. no and that's because the math matters in the senate at the time that merrick garland was nominated by president obama republicans held a majority in the senate so they had the ability to decide whether a supreme court nominee would be considered in the light in a presi

the bank started in 2003, and it established in dallas. it continued to grow. it weathered downturns and managed the downturns well. there were a couple periods where other banks stepped away. other banks had made bad loansnot have the capacity. the second period was in 2016, when other banks had received a warning from banking regulators telling them that there were some risks bubbling up in commercial real estate, and that the regulators would be watching the situation. gleason jumped in at that point and decided it was time to take the market share. at that point, they developed some relationships with some of the bigger developers around the country. time will tell whether that decision was a good one or whether there were risks the bank did not recognize. carol: tell us about where he is today. the largest lender in the united states, construction of residential and commercial real estate. this is amazing. this is not a household name. this is not something we talk about on a daily basis at bloomberg, but this guy has become a giant. joel: it is amazing. it is the kind of thing you would not expect. who is the largest lender to construction, which we have all seen around the country, these gentrifyi

bank because they're able to earn mor on the deposits they roll. they're waiting for the impact of tax reformck to t down to businesses which will then seek more loansthe banks. to be sure, there is some concern that banng ear have peaked and that the tarde could cause economic growth to decelerate and that caused bank stocks to underperform by 4% this year. amid the decline banks have a high likelihood of a positive surprise. for "nightly business report, i'm leslie picker. >>av karenaugh joins us to talk about the second-quarter earnings expectations. she's senior market strategist withen moya inves management. thanks for joining us tonight. >> thank you for having me. >> certainlyti expecs are high pretty much across the board for all of the s&p sectors, but nowhere they stronger than in energy. very strong. >> absolutely. >>he right. >> remember, energy, the earnings really get when oil prices went down and they've recored nicely and energy will be the biggest gainer in terms of growth in the secon quarter and technology is also on that list with a gn, significant double-digit gain as is materis. >> right. technology has been there throughout al

worth of china backed projects in the country, as it probes whether its scandal ridden state investment fund — 1 mdb — benefitted from a chinese state—owned bank loanink, which would connect malaysia s less—developed east coast to southern thailand and kuala lumpur. karishma vaswani is in singapore. this story is starting to permeate all sorts of areas isn't it? indeed. this comes a day after the former prime minister of malaysia was arrested and then subsequently charged on corruption charges. he was the one who approved many of these projects and made that approach to beijing and trying to firm up ties between china and malaysia. now, just to remind our audiences, the malaysian authorities, the current government, is investigating whether chinese state—owned bank was used in a transaction that benefitted the government investment fund at the heart of the scandal over the last few years. it is suspending three of its largest chinese—backed projects, worth $22 billion, to detail the projects one is the old coal rail link, that would have connected the less developed eastern coast to thailand and kualar lumpur. it was pa rt of thailand and kualar lu