bank j.p. morgan. chinese leader xi jinping reiterated his calls for international cooperation and criticism before he grants one sided rulemaking speaking tuesday at the forum for asia a gathering of politicians business leaders and scholars organized by china he called for wider trade liberalization and criticised efforts to wall off local commerce. and so for me the doing business to squash. the fight against the corona virus pandemic. has the rate of infection in developing what does the latest research. information and contact the coronavirus update 19. on t w. do you feel worried about the planet. the truth. on the greens. and to me it's clear remains true. solutions are out there. join me for a deep dark green transformation for me. the coronavirus knows no borders similarly there's one group of people that manages to target more migrants. there at a higher risk of acquiring and dying from covert 19 dantes patchy and the reasons are diverse. today we cut through the prejudices and racism to see

j.p. morgan a u.s. investment bank why are they behind the project. well i mean it's a big deal to begin with it might be the biggest sport financing deal of the here and then j.p. morgan they have quite some experience in the world of sports way back they helped their glazer family an american family to buy a mensch as a united later they also helped them to bring that company here on the floor of the new york stock exchange they also advised them other teams when they got to buy it for especially in italy for example they also helped to raise funds for real madrid to refurbish the bin i.b.o. stadium or other soccer teams to actually sell bonds so they do have some experience we do not know all the financial details yet but it is pretty likely that j.p. morgan also will get a nice a fee for this job the city has been criticized as being all about business by many many opponents so what's the business reaction been to the announcement well maybe to begin with sold the stock of mentors to united for example here at the new york stock exchange should tra

investment bank j.p. morgan organizers of the super league estimate revenue of over $10000000000.00 euros annually would be significantly higher than current european tournaments leagues also promising a massive upfront cash injection for clubs to build up infrastructure investment a whopping $3500000000.00 euros for the so-called founding clubs now for more on this i'm joined by professor sasha schmidt he teaches sport and management at. professor it's good to have you on the show. the calculus for the formation of this league is that this is what fans wants you've done some research into this from a german standpoint what do you see fans wanting. yeah you should look at the short term fence where the biggest brands the most popular starts that that's for sure but but this might change so in the mid to long run we see signs of 1st such a ration of over consumption of football and so the fancy might get bored by watching the same crops competing every other week and they might return the focus to the national co

bank j.p. morgan organizers said the project was necessary to save club's finances during a difficult pandemic but many saw it as a money grab which would greatly damage the sport. well as discussed that further with kara mcguire a football finance expert who joins us from liverpool thanks for coming on the business is that accusation fair that the super league was a money grab. it was certainly an attempt by a small group of clubs to increase their share of the the total revenues within european football they hope to achieve this by taking control broadcasting in commercial arrangements and by having a sealed system where there is no promotional relegation the benefits of that was that they didn't have to worry about winning football matches in order to achieve financial reward so that's taking the football out of the business i suppose is the decision to withdraw from the league as much of a financial one as the decision to join us in the 1st place you know the i think the decision to withdraw from

bank j.p. morgan organizers said the project was necessary to save club's finances during a difficult pandemic but many saw it as a money grab which would greatly damage the sport. but as discussed that further with karen mcguire a football finance expert who joins us from liverpool thanks for coming on business is that accusation fair that the super league was a money grab. it was certainly an attempt by a small group of clubs to increase their share of the the total revenues within european football they hope to achieve this by taking control broadcasting in commercial arrangements and by having a sealed system where there is no promotion or relegation the benefits of that was that they didn't have to worry about winning football matches in order to achieve financial reward so that's taking the football out of the business i suppose is the decision to withdraw from the league as much of a financial one as the decision to join is in the 1st place you know the i think the decision to withdraw from the

would leave the super league which is backed by billions of euros of investment capital a us bank j.p. morgan super league organizers say they are now focusing on efforts to reshape the project a project that not just fans but many trainers and even football managers disapprove of with just. you know the share price for how the. you know we are. ok he reminded people about. a competition to exist the consequences exist on the pitch and you call them right from trying systems and in europe. it's impossible. because it goes against everything. that's good our financial correspondent frankfurt osh kosh hyundai for more. fascinating stuff what's going on here this suggests that fans see this much differently than investors would. well absolutely yes so what are investors looking at they see a product like super league and this evolve stop there is the likes of macy's that . there would be immediate cash injection for the struggling clubs that's again a major check then of potentially a better broadcasting deal to all check so that's the reason why they poured in their investments in this in actua

in europe excluding or the other a financial power grab that's being backed by the american bank j.p. morgan and those taking part will get hundreds of millions of euros just the competing i can see them just sucking the money out of this old football european football what does this mean for the future of the champions league the europa league only what having your wife is saying they're going to ban these teams it would effectively render those competitions you've mentioned a 2nd class competitions without the biggest clubs in europe now you read that you a full statement understandably they are absolutely furious about this they're saying clubs would be banned in taking part in domestic leagues a player has banned even from taking part in the world cup. no i mentioned the ad reforms they were hoping to reform the champions league your way for to include bowl games and obviously bring about more money that was due to be rubber stamped today it's unclear now given what's happened whether that will even take place the backlash has been fierce not just from you a fair we've had backlash from

investment bank j.p. morgan. the league will be formed of 20 clubs 15 permanent to come be relegated 5 that they're placed on marriage games would be played midweek 1st in 2 groups of 10 the top 3 from each would then go through the knockout rounds to determine the winner. eventis present andrea and yeah he has been one of those behind the proposals even though he sat on you a fence board. if there is interest by these kind of mayors and these financial institutions it means there is. a potential for a bright future within our industry. has been widespread backlash to the plans its fans corney to greedy power grab. it's just great taken over really i think by the fans a lot of fans that samples old guns as well i like keeping the status quo i think things work relegation and promotion good things they keep that provide competition . sounds motivates of our money but greed switch is not a good thing to be in the game anyway you wait for one point to give up on it's cash cow without a fight the super league is dig

investment bank j.p. morgan. the league will be formed of 20 clubs 15 permanent who can be relegated and 5 that they're placed on marriage games would be played midweek 1st in 2 groups of 10 the top 3 from each would then go through 2 knockout rounds to determine the winner. eventis present time dre i merely has been one of those behind the proposals even though he sat on your wife and sports. if there is interest by these kind of mayors these financial institutions it means there is. a potential for a bright future within our industry. there's been widespread backlash to the plans its friends calling me to greedy power grab. is to have this great taken over a day i think by the fans a lot of fans that. well i like keeping the status quo i think things work relegation and promotion good things they keep that provide competition. sounds motivates if i want to buy greeds which is not a good thing to be in the game anyway you wait for i won't want to give up on it's cash cow without a fight the super league is diggi

investment bank j.p. morgan if there is interest by these kind of players these financial institutions it means there is. a potential for a bright future you way for the governing body of european football has reacted with fury one top member says he thinks 3 of the 4 clubs in the champions league semifinals next week will be banned for their roles in the super league. yes promoter referred to chelsea manchester city and real madrid saying the club's must go and i expect that to happen friday then we have to find out how to finish this champions league tournament. us in the footballing world stand united against that these graceful self-serving proposals we have seen in the last 24 hours from a select few clubs in europe. outside of anfield stadium super league club liverpool's own fans showed their disdain for the super league which their heroes are now part of a sentiment shared by fans of super league clubs elsewhere in europe. the dignity of the european football is about its diversity and what we're seeing

investment bank j.p. morgan. the league will be formed of 20 clubs 15 permanent who can be relegated and 5 that earn their place on merit games would be played midweek 1st in 2 groups of 10 the top 3 from each would then go through to knockout rounds to determine the winner. you've insist president andrea nearly has been one of those behind the proposals even if he sat on you a fence board. if there is interest by these kind of mayors these financial institutions it means there is. a potential for a bright future within our industry. there's been widespread backlash to the plans its fans calling it a greedy power grab. this great taken over by the fans. well i like keeping the status quo i think things work relegation and promotion good things they keep to provide competition. sounds motivated by money by greed's which is not a good thing to be in the game anyway you wait for one point to give up on its cash cow without a fight the super league is digging in ruefully launching legal action to stop us from blockin

investment bank j.p. morgan. the league will be formed of 20 clubs 15 permanent you can be relegated 5 that and their place on merit games would be played mid week 1st in 2 groups of 10 the top 3 from each would then go through to knockout rounds to determine the winner. events is present andrea nearly has been one of those behind the proposals even though he sat on a fence board. if there is interest by these kind of mayors these financial institutions it means there is. a potential for a bright future within our industry. has been widespread backlash to the plans its founders corny to greedy power grab. is to have this great taken out of a i think by the fans a lot of fans that. as well i like keeping the status quo i think things work relegation and promotion good things they keep the provide competition. sounds motivated by money but greed switch is not a good thing to be in the game anyway you wait for one point to give up on it's cash cow without a fight the super league is digging in launching legal action

now to a story we've been covering for the past few days the superleague us investment bank bank j.p. morgan reportedly stood to gain more than $6000000000.00 from its involvement in those now defunct plans for the super league according to german news outlets spiegel the bank had committed to financing the 12 original breakaway clubs over a period of more than 2 decades but of course as we've learned in the past 2 days after a major backlash from fans as well as the withdrawal of all 6 of the english clubs that had originally signed up those plans are now dead the water j.p. morgan says that it will quote learn lessons from the experience. all right let's take a look now on the other business stories making headlines for. profits rise to 4400000000 euros in the 1st quarter that's thanks in part to high demand china has put thousands of its employees on a subsidized short time work program after being hit by the bottleneck in semiconductor supply. southwest airlines has become the 1st major u.s. airlines reported profit since the pandemic started federal aid boosted company revenues in the 1

investment bank j.p. morganif there is interest by the standard players these financial institutions it means there is. a potential for a bright future you way for the governing body of european football has reacted with fury one top member says he thinks 3 of the 4 clubs in the champions league semifinals next week will be banned for their roles in the super league. yes for moeller referred to chelsea manchester city and real madrid saying the club's must go and i expect that to happen friday then we have to find out how to finish this champions league tournament. us and the footballing world stand united against that these graceful self-serving proposals we have seen in the last 24 hours from a select few clubs in europe. outside of anfield stadium super league club liverpool's own fans showed their disdain for the super league which their heroes are now part of a sentiment shared by fans of super league clubs elsewhere in europe. the. so you can feel believes about its diversity and what we're seeing now it's

investment bank j.p. morgan if there is interest by these kind of mayors these financial institutions it means there is. a potential for a bright future you wait for the governing body of european football has reacted with fury one top member says he thinks 3 of the 4 clubs in the champions league semifinals next week will be banned for their roles in the super league. yes promoter referred to chelsea manchester city and rio madrid saying the clubs must go and i expect that to happen friday then we have to find out how to finish this champions league tournament. us and the footballing world to stand united against these graceful self-serving proposals we have seen in the last 24 hours from a select few clubs in europe. outside of anfield stadium super league clubs liverpool's own fans showed their disdain for the super league which their heroes are now part of a sentiment shared by fans of super league clubs elsewhere in europe. the dignity of the european football is about its diversity and what we're seeing no

investment bank j.p. morgan. the league will be formed of 20 clubs 15 permanent who can be relegated to 5 that their place on marriage games would be played midweek 1st in 2 groups of 10 the top 3 from each would then go through to knockout rounds to determine the winner. events is present time dream and yet he has been one of those behind the proposals even though he sat for a new way for sports. if there is interest by these kind of mayors these financial institutions it means there is. a potential for a bright future within our industry. there's been widespread backlash to the plans its fans calling it too greedy power grab. it's just great taken over really they've been by the fans a lot of plans that travels over as well i like keeping the status quo i think things work relegation and promotion good things they keep that provide competition . sounds motivates if i want to buy greeds which is not a good thing to be in the game anyway you wife i won't want to give up on it's cash cow without a fight the super

j.p. morgan and j.p. morgan and banks in general are filled with people like this who will literally bilk their grandmother rather than not get their christmas bonus so we're going to look at some data you know when i saw a lot of people tweeting that story. it's a recent story so it made me think of what lynn alton who is a financial analyst was recently looking at in terms of macro economics and the situation in america whereby you know we have a problem with the voters the deplorable people in this country who keep on voting for a populist you know sort of politicians that they want well here's the data she points to to say well perhaps we need to address these issues and that might get rid of the need for a populist you know politicians over the past couple decades the u.s. labor share of g.d.p. has decreased to being well below trend while u.s. corporate profits as a percentage of g.d.p. have increased to being above trend so here those 2 trends labor share. as you see has plunged since 1952 all time lows during you

j.p. morgan a u.s. investment bank yes why are they behind the project. ell i mean it's a big deal to begin with it might be the biggest sport financing deal of the year and then j.p. morgan they have quite some experience in the world of sports a way back they helped their glazer family an american family to buy mencia stay united later they also helped them to bring that company here on the floor of the new york stock exchange they also advised them other teams when they got to buy it for especially in italy for example they also helped to raise funds for real madrid to refurbish the bin i.b.o. stadium or other soccer teams to actually sell bonds so they do have some experience we do not know all the financial details yet but it is pretty likely that j.p. morgan also will get a nice if he for this job the city has been criticized as being all about business by many many opponents so what's the business reaction been to the announcement well maybe to begin with sold the stock of the united for example here at the new york stock exchange should traded by a

investment bank j.p. morgan organizers estimate revenue of over $10000000000.00 euros annually significantly higher than current european tomans and the super league is also promising a massive front cash injection for clubs to invest in infrastructure after 3500000000 euros so big money involved let's get some analysis from sports management professor such a schmidt. if you look at the 20 biggest clubs in europe in terms of revenues they lost almost 1000000000 in revenue was due to the pandemic but this was only last season and so we expect the bigger hit to come since the next day revenues which consists of about 16 percent of all revenues it will almost go down to 0 so you will you won't have any picketing or hospitality revenues this year than in the last season at least in germany we look at 8 games that have been played without any any audiences and so if this continues so the. the overall. damage will be will be way higher. now let's take a look at some of the other business stories making news around the

american investment paying bank j.p. morgan is helping fund the newly. soon as practicable. a lot of hurt feelings over there. >>> back at home now, the university of alabama has broken another record on the football field, hosting nearly 50,000 spectators at the program spring game in tuscaloosa on saturday. that is the most fans in the u.s. sporting event since the start of the pandemic. >>> meanwhile, major-league baseball the minnesota twins will continue their coronavirus pause. tonight skin oakland against the athletics has been postponed to allow for testing and contact tracing after least two positive cases in the last week. games between the twins and the angels were also postponed to saturday and yesterday. the twins and the a's are scheduled for a doubleheader tomorrow as a makeup. >>> let's go to the action on the diamond in cincinnati where shane bieber struck out 13 batters on the way 26-3 win over the reds yesterday. beaver becomes the first pitcher in the history to strike out at least 10 batters in each of his first four starts. the reig

act he also got introduced the commodities futures modernization act those 2 helped the banks plunder. like j.p. morgan banker plundered his grandmother we helped banks plunder the productive capacity of the economy and then of course that couldn't have happened however without somebody being able to produce all or goods that the wealthy need and that is china being elevated to the w c o n favored nation status right the child effect of december of the american middle class thanks to bill clinton and we're living with the consequences down because the society in the us has it irreparably crushed by these oligarchs running the show and the social unrest is growing and there's really nothing to stop it anymore yeah and there's supposed to be this notion of an invisible hand and the invisible hand is that you know your nation and the economy will take care of itself like that it will all not do like with that shape the morcombe banker didn't build here grandma like they're supposed to be like that tenets of this capitalism are supposed to be based on that sort of notion you're not going to bilk your grand

investment bank j.p. morgan if there is interest by these kind of players these financial institutions it means there is. a potential for a bright future you wait for the governing body of european football has we acted with fury one top member says he thinks 3 of the 4 clubs in the champions league semifinals next week will be banned for their roles in the super league. yes promoter referred to chelsea manchester city and real madrid saying the club's must go and i expect that to happen friday then we have to find out how to finish this champions league tournament. you a fire in the footballing world stand united against these graceful self-serving proposals we have seen in the last 24 hours from a select few clubs in europe. outside of anfield stadium super league club liverpool's own fans showed their disdain for the super league which their heroes are now part of a sentiment shared by fans of super league clubs elsewhere in europe. the beauty of the european football is about its diversity and what we're see

league it's understood around $5000000000.00 has been committed to the project by the american bank j.p. morgan live a poll of barcelona eventis and arsenal as some of the other teams legibly agreed to be involved but you a fat released a joint statement with a number of european leagues threatening sanctions fever and all our members say stations will remain united in our efforts to stop this cynical project a project that is founded on the self interest of a few clubs at a time when society needs solidarity the clubs are concerned it will be banned from playing in any other competition at domestic european or world level and their players could be denied the opportunity to represent their national teams a piece at global sports correspondent rob harrison says a super league proposal put some of the biggest clubs in europe on a collision course with the sports administrators. that we're seeing is some of the elite clubs in europe trying to rip up the system and go out alone with a lot of the super league they want control not only of the competition but the following answers and also the acces

league it is understood around $5000000000.00 has been committed to the project by american bank j.p. morgan live a paul barcelona eventis an arsenal as some of the other teams who've been allegedly agreed to be involved the way fit released a joint statement with a number of european leagues threatening sanctions pfieffer and all our members say ca sions it will remain united in our efforts to stop this cynical project a project that is founded on the self interest of a few clubs at a time when society needs solidarity the clubs concerned will be banned from playing in any other competition at domestic european or world level and their players could be denied the opportunity to represent their national teams well british prime minister boris johnson tweeted that he supports football authorities in taking action and thinks the plans a very damaging for the game earlier we spoke to a piece global sports correspondent rob harris who explained how this new competition could affect domestic leagues but what we're seeing is some of the elite clubs in european football trying to rip up the system

investment bank j.p. morgan organizers estimate revenue over 10000000000 euros annually significantly higher than current european tournaments the super league is also promising a massive upfront cash injection for clubs to build up infrastructure investment a whopping 3500000000 euros. now for more on this i'm joined by professor sasha schmidt he teaches sport and management a b.h. you do sold off professor it's good to have you on the show. the calculus for the formation of this league is that this is what fans want you've done some research into this from a german standpoint what do you see fans wanting. fans want the biggest brands the most popular starts that's for sure but that this might change so that makes the long run we see signs of further saturation over consumption of football and so the fans might get bored by watching this thing competing every other week and they might return the focus to the national competitions in the new normal we are facing one of the reasons given for the formation of this

banking giant j.p. morgan.uite seriously, the midst of a pandemic, and economic crisis, football clubs furloughing players, and these lot are having zoom calls about breaking away. a joke. >> the super league clubs want to start as soon as possible. many fans have joined in condemning the move. competing clubs face being booted out of their domestic leagues. several television broadcasters are also refusing to abandon national leaks to join the new project, but if it does go ahead, football's single sporting pyramid from the lowest grassroots teams all the way to the top may never be the same again. >> those behind the super league say they want to kick off as soon as practicable. the competition will have 20 teams. the 15 founding members are guaranteed a place every year. other clubs will compete for the remaining five spots. each team will earn 400 million dollars just for joining the league, nearly three times more than what the champions league and or gets every year. organizers data format guarantees regu

banking giant j.p. morgan seriously the midst of a pandemic an economic crisis football clubs at national league level going bust nearly furloughing players clubs on the edge in league one and 2 and these lobbying assume calls about breaking away and basically create more great. joke the super league clubs want to start as soon as possible but the premier league league and syria all joined us in condemning the move so too have many fans competing clubs face being booted out of their domestic leagues several television broadcasters are also refusing to abandon new way for a national league to join the new project but if it does go ahead football's single sporting pyramid from the lowest grass roots teams all the way to the top may never be the same again leave barca al-jazeera. thank you back to minneapolis now that said their it show in trying to conceive derek chauvin. there and now we had been listening to the closing statement by the defense attorney eric an arson. that had been stopped so that the jury cou

banking giant j.p. morgan seriously in the midst of a pandemic an economic crisis football clubs at national league level going bust nearly furloughing players clubs on the edge in league one and 2 and these lobbying assume calls about breaking away and basically create more great. joke the super league clubs want to start as soon as possible but the premier league the league and syria have all joined us in condemning the move so too have many fans competing clubs face being booted out of their domestic leagues several television broadcasters are also refusing to abandon you a for a national league to join the new project but if it does go ahead football's single sporting pyramid from the lowest grass roots teams all the way to the top may never be the same again leave barca al-jazeera the european union has announced sanctions on members amir mas military is new evidence of the joint his brutality emerges he used top diplomat says the sanctions will hit 10 individuals in 2 corporations belonging to the milita

interesting to me is that we are hiring 24, 25, 26-year-old's from those firms, goldman sachs, bank of america, j.p. morgan who are at the perfect part of their career for those banks. they have gone to the right schools and been trained well. it is almost more painful for those guys -- those banks to lose those guys than their senior people. the jr. people are the lifeblood of those banks. those jr. people are stern to say, hey, this is a polar career. it has more upside potential. it has a lot more upside potential, so we are seeing a migration of great talent. amanda: one of the things that makes the space so interesting, and there is opportunity and potentially risk, is the role the regulators will play. do you think that generally speaking the regulators -- getting through central bank than what they are thinking about their own version of digital coin or cryptocurrency -- will they be a partner in this, or will they be something you have got to figure out how to get around and over he echo ? mike: there are two sides to that point. gary gensler, he said a lot of innovation but happens by small guys t

banking giant j.p. morgan seriously in the midst of a pandemic an economic crisis football clubs at national league level going bust nearly furloughing players clubs on the edge in league one and 2 and these lobbying assume calls about breaking away and basically create more great. joke the super league clubs want to start as soon as possible but the premier league league and syria all joined in condemning the move so too have many fans competing clubs face being booted out of their domestic leeks several television broadcasters rules are refusing to abandon you a for a national league to join the new project but if it does go ahead football's single sporting pyramid from the lowest grassroots teams all the way to the top may never be the same again leave barca al-jazeera those behind the super league say they want to kick off as soon as practicable the competition will have 20 teams the 15 founding members are guaranteed a place every year other clubs will compete for the remaining 5 spots as we've mentioned

that could be saying about the economy, but they cannot deny the fact that citi and bank of america joined j.p. morgannd wells fargo in blowing away expectations for the quarter. they also joined the heads of those banks in seeing good things ahead for the economy. citigroup's ceo says this is the healthiest we have seen the consumer emerge from a crisis in recent history. quickly to the trading revenue, fixed income trading came in at $6.4 billion. fees from underwriting quadrupled, helped by citi's dominance in the white-hot stock market. even as net interest income declined and loan demand was acknowledged as tepid, they beat on almost every measure. bank of america also reported record revenue on that spac craze. rishaad: tell us a little bit about citi's retailing changes. you have ceo's testifying. can you answer all that in a minute? su: i'll try. the ceo exiting the consumer market, saying they are going to double down on wealth divisions. they are leaving australia and china at the retail level but want to beef up their institutional client group in asia and focus on citigroup's global wealth

banking at jpmorgan. how much has hong kong changed and what does it look like for the j.p. morganny in the coming years? jing: hong kong -- i've been here for many years, and the hong kong financial markets are extremely fully and. from activity in the ipo market, many of the innovative companies from china are coming to the hong kong market to list. in terms of the recovery from the pandemic, hong kong actually has done pretty well. if you think about it, hong kong is a city of 7 million people. altogether, i think there have been about 11,000 cases of covid since the pandemic began. these days, i think the pandemic is infinitely coming under control. economic activity is actually returning to normal, slowly but steadily. tom: with your influence, your experience, the breadth of your knowledge of the pacific rim, do you look at hong kong that it will be changed for western banking, or will he be business as usual -- will it be business as usual? jing: so far, it is business as usual. we are as busy as ever, helping our clients among the corporates and also investors. remember, ch

we saw banks like j.p. morgan say we don't want any part. we saw wells fargo knots caved.he damage was done, whereas it was not done in american financials. we are the stalwart financials of the world right now. lisa: how much are you bullish on risk assets predicated on the idea that rates remain low for a long time? that we have gotten ahead of our skis, and we are likely to remain in this low inflation world for a long time? david: a quick summary of the reason, we work 153 million nonfarm payroll in february of last year before covid. we are back to 143 now. you have to go back years to get to 143. the normally -- the normans number lee would put us -- the numbers normally would put us at 157. look at the cap. if you have this huge gap number one, and you have years of lives lost because of deaths from covid, roughly nine years of lives lost for each death, after you adjust for older people in nursing homes, what if you are done? you have taken this big chunk of aggregate demand and removed it. it is not there anymore. it has to be refilled. so i think the inflation pr

of that like i was saying about the mortgages that's really one of the aspects of it but bank of america j.p. morgan you know they're all seen the fact that there's even more credit cards being applied for more credit than it's going out there so consumers are obviously going back to use the stimulus to pay off debt and they're buying stuff they're back in the retail sector and travel and in that industry is going to start booming as as we see things move in as well now kristie before we go we got a 45 2nd for this but because in a period there were 2 main coins right now which one has more upside from here. i think he's actually has a great outside here over the next 12 months because the price and where it can go and you can see it the shift in fund allocations previously funds held about 5 to 6 times more. or less since the start of the year that ratio has actually dropped about 4 x. so on terms of what's driving e.c. as they continue demand for as teens and the 2 upcoming eats up grades which are essential to merge $2.00 with the one point out at the end of the end making the entire infrastructu

and certainly banks like wells fargo, j.p. morgan chase, several international banks were very interested in the franchise of washington mutual. so we said before we finalize raising the capitol we should check with all the parties and see if there's something better for the shareholders that we should consider right then. and we went through that process there is nothing, no one put up a price and an approach that they felt was good and the best long-term interest of the shareholders appeared we were particularly concerned in the case of j.p. morgan chase they never submitted a formal bid. they just gave kind of an informal indication of interest. and then only subsequently said it's time to raise new capitol, we did that. they continued to talk to investors and say they wanted to find a way to still try to do something with washington mutual. and they started talking to regulators, to treasury and others to express their interest that they would love to somehow get a deal done with washington mutual. >> so one of the things you arg

depot all of which have headquarters in the state there is also pharma giant merck porsche bank of america j.p. morgan chase citigroup american express and that list just keeps going on and on and just prior to air here major league baseball has announced that it will move the 2021 all star game and m.l. be draft from the city of atlanta due to this law so this raises the question just how effective is this corporate activism we'll call it coming from business leaders weighing in on the political issue and kennett effect change to talk about this let's bring in the host of the news and the exam chaz rick sanchez himself now rick before we get into the corporate angle of this let's talk about this law what are your thoughts on that this is the republican party taking a gun getting the trigger aiming it at their foot and shooting they're literally shooting themselves in the foot they're doing everything possible one can almost help but feel sorry for them this is so incredibly short sighted for the republican party of the united states to send a message to all men. doherty's in america that essentially