injured demonstrators stormed a government ministries and the headquarters of the national banking association she's days massive explosions in by bridgeport a widely seen as a consequence of political corruption and incompetence the blasts killed 160 people and injured thousands more. another day and night of rage in beirut. protesters stormed government buildings and banks as their fury reached boiling point. choose days massive explosion reignited their disdain for authorities in power. to many a deepened already existing distrust for the leaders who they say are incompetent and corrupt the country was already struggling through a deepening financial crisis making the recovery from this disaster that much harder the desperation was clear. and on ahmad we no longer have money the leaders during care about the people no food no houses more than $300000.00 people lost their homes after the explosion in addition to the depreciation of the lira. anger transformed the city making it unrecognizable to the devastating scenes from just days earlier. police fired tear gas amidst the chaos trying to r

they succeeded in the storing it still many ministries and government buildings as well as the bank association is this going to be contained. like you have no idea and that's as you were coming on the ground yesterday we noticed. that this was already critics of the free there was a court that issued the train 3 groups of protesters there was a group was confronting the security forces and the other group was at was turning the bank is the station and the 3rd group less turning the ministries and they they were able to take over the ministry it's a lie in the school and they ask and i have been his army internal security forces could take control again prime minister has cold for early elections is that going to be enough to calm the anger of the lebanese people. well anthony. even asked you the statement of the prime minister has said in jest today this is not an eye contact of cases and as we were talking to few things there were concerns and. security and basically that's a good system in lebanon and make sure it lol when that's even given would not even allowed independent candidates to 68

associate banks they they played with the banking sector for what they are right now financially and economically because they believe that the bank expected mainly the sense that. they gave the chance to these government these politicians through this system to be corrupt that they. would with money all over again until we reach a 100000000000 dollars us national debt and let me mention one thing here that's 40000000000 dollars 45000000000 dollars in fact the debt for the people what can you imagine motto i don't 45 percent of the national debt a cold. that's why people are so angry about the rights of us i don't observe it unobservant that's something very organized which is something but i don't know if it seems that this night it's going to be a turning point in lebanon ok and it's in response to these organized protests a prime minister has signed yeah but i gave a speech on television proposing early elections do you think this will in any way placate the protesters who are self area that's so much explosive material was left in storage but how safety measures. know your electi

some protesters threw stones and others stormed government ministries the offices of the association of lebanese banks were also trashed one policeman was killed during the arrest and the right cross said dozens of people were injured. by a root residents are angry that they've been left to pick up the pieces of their shattered homes and neighborhoods using shovels and human chains no help from the

bill was entirely about you citigroup along with some of these community bankers and other bank trade associations really hit the hill had a lot of lobbyist working on this you have a deal with the city and do you think that the banking lobby and their campaign donations had any influence of the 2000 a fiasco that the bank said no no role in that debate if you ask me that question do they have any influence over the vote. and banking lobby have any influence on this vote actually go to see office and take it along with the money center that we're thrilled with this it's the community banks that like. yes i did support that community bank bill and i think when people mention this to others and what things are that makes it really hard all right one last question you should know regional banks are doing very well thank you. are you concerned that the banking lobby bank lobbyists had influence over this bill that they have too much influence here on capitol hill absolutely i think the bank allowed the guy. the pharma lobby all have too much influence here in congress this bill 252500 1000000 in the k

the foreign ministry, the trade ministry, the ministry of the environment and the lebanese banking association. this is something the likes of which we have not seen here in beruit before. now, this really is the result of a total loss of confidence by ordinary lebanese in the government. the government which neglected, which passed the buck when it comes to this cause of the explosion on tuesday evening, that 2,750 metric tons of ammonium nitrate that blew up and killed more than 160 people, wounded more than 5,000 and made 300,000 people homeless. this is the utterer failure of a government to do the most basic thing, which is to protect its people's lives and property, both of which have been lost to an amazing extent, and therefore we already have been reporting for quite some time on the collapse of the lebanese economy. the fact that lebanon's currency has lost much of its value. so for people, they look at this government, which is infamous for incompetence, negligence, corruption, and are saying, what is the point? what is the point of this government? so what we've seen during this pr

you know agree for the most part there are over 5000 federally insured banks and savings associations in the united states yet the 5 largest banks matter most obviously in terms of both the fed and treasuries policies as well as and how skyrocketing systemic risks are concerned and viewed there's vastly higher leverage now certainly than in 2008 and yet the government has tactically shut down the economy seemingly because of a very aggressive newly concocted flu virus citi group j.p. morgan morgan stanley b. of a goldman sachs per the comptroller of the currency i want you to know this 8 years and 2019 each of these 5 mega banks held something else like at least 30 trillion of notional derivatives each representing 83 percent of all banking derivatives this is a fiscal powder keg i mean the owning powers behind these banks and that's essentially national central banks are pulling the plug now performing a controlled demolition if you will of unsalvageable debt and it fizzes and other structures in this wider economic system the fed already pumped over 9 trillion into this broken repo

for a few hours the minister of foreign affairs and energy economy and environment plus the associates of banks since. the 17th of october 1 the bunny's took the streets of lebanon they blamed the banking sector for the financial crises and they blamed the ministry of energy for the ailing sector of electricity and the minister of foreign affairs that it didn't represent the ideal a voice of the lebanese to the world this day it was obvious that it is turning point in lebanon in the political life even though the prime minister they said he said that in his meeting with the ministers on monday will discuss early elections which was one of the main demands of egypt at the stores and lebanon but after tonight and after the huge explosion in the. heart of things turned over. the coming days we'll make sure what the future of lebanon whether he can continue would be cut in political system or can be changed the international community asking for. don't use boston every day there in beirut while moving to the u.s. for president donald trump says he's taking executive action to extend benefits to ame

security forces all of the you know and the ministers and from a 3rd party they go into the associates of banks it's all of us. old. guys very well and they are. they have a very good communication between each other and it seems that they ordered you plan for that before i did have these bets i read it in beirut thank you for your reporting i think you could on to the us now where president donald trump says he's taking executive action to extend benefits to americans thrown out of work by the current virus pandemic bypassing congress after negotiations between republicans and democrats broke down accuse rival democrats of trying to block the benefits. him or have chosen to hold this vital or systems hostage on behalf of very extreme partisan demands and the radical left democrats are we just can't do that so hopefully we can do something with the middle later date but we're going to be signing some bills in a little while that. are going to be very important will take care of pretty much as entire situation let's paint you know as a whole in washington d.c. to give us a better idea of what we

some protesters threw stones and others stormed government ministries the offices of the association of lebanese banks were also trashed one policeman was killed during the arrest and the right cross said dozens of people were injured. by a root residents are angry that they've been left to pick up the pieces of their shattered homes and neighborhoods using shovels and human chains no help from the state. and more m.p.'s have resigned from parliament in their own protest a christian opposition party which lost a senior official in the blast said it's 3 legislators will join 2 others who left in anger at corruption and the lebanese prime minister says he will propose early elections in a bid to stem the anger loom conclusion as. we cannot face these problems unless we have early elections to elect new politicians and a new parliament we need a new political elite and a new parliament we need to work together to overcome the stiff a period we know and i know the people have questions about the catastrophe and how the government plans to handle it the catastrophe is way bigger than anyone could imagine t

toward president donald trump's reelection effort over the past 18 months from people associated with the $31.00 banks and investment firms that dominate the u.s. financial industry jordan has contributed $3700000000.00 of trump $4800000.00 from big banks and without him the total would represent as 69 percent decline from 2016 i don't know whether to be amazed that schwartz and loyalty were the fact that a majority of rich white conservatives who would only benefit from a trump presidency will have patience to hitch their wagon to a man who pronounces yosemite as semites yosemite of course he had a 2nd chance to fix it and still get up to exactly what happened was that he's reelected. but when it comes to giving your d.n.a. away really in a capitalist society dying to mine it for profit you won't get a 2nd chance to get it back private equity firms will continue to dismantle companies out of greed but that can't stop us from calling out the companies who can exploit our data plus we can make it more difficult to explore info to begin with by making fun of people for sending their spit the strangers i

the first bank robbery was the clay county savings association and made off with $60,000 in cash and bonds. this robbery was the first daylight peacetime armed bank robbery in u.s. history. during their escape, gunfire erupted and an innocent 17-year-old bystander was killed. it set a precedent because innocent bystanders were often killed during their bank robberies. soon, they tired of robbing only banks. part of that was that banks had started to install time lockboxes and it was harder to rob them. their first train heist was july 21, 1873, when they robbed the chicago rock island and pacific railroad in iowa. five members of the gang pulled some track up and when the train hit that, it derailed and overturned, and the locomotive engineered was killed. it was said the james younger gang lived by the horse and died by the horse. jesse james had developed into an expert horseman. he believed the best mounted man often won because it allowed them to easily outmaneuver and outrun anybody pursuing them. william cody, or buffalo bill, allegedly told authorities, that is why the james br

confirming the net profit target up to $3.5 billion euros france's second largest listed bank partly due to a rise associatedthe coronavirus risks. >> munich re has declined to give guidance. they saw net profit fall 42% to 579 million euro the group scrapped its share buy back plan. >>> and axa with a 40% drop in income also scrapped earnings guidance after property and casualty business took a hit on rising claims >>> coming up, the death toll rises and anger mounts as they look to find the culprits leading to an explosion that left parts of the capitol in ruin hike! simon pagenaud takes the lead at the indy 500! coming to the green flag, racing at daytona. they're off... in the kentucky derby. rory mcllroy is a two time champion at east lake. he scores! stanley cup champions! touchdown! only mahomes. the big events are back and xfinity is your home for the return of live sports. >>> the lebanese government has ordered several porto officials to be put on house arrest pending investigation into the blast that killed over 135 people >> new videos tonight show how the powerful blast changed the city in an in

many banks actually don't lend to nonprofits because it is a very different nature. university of wisconsin, which you used to be associatedh, probably goes to debt markets rather than relying primarily on bank markets. that's true for many hospitals as well. so if this is a market that has not been extensively tapped by many banks and i think it's a new market for many banks. i think there is an opportunity for more nonprofits to be able to access bank financing through this program. we did make significant adjustments in the term sheet. when we were thinking about the term sheet and the adjustments we made between the first and the second term sheet, we spent an extensive amount of outreach understanding how banks underwrote these loans and how raving -- rating agencies underwrote these loans. this broadly matched what many banks told us the criteria they used and between the first and second term sheet we did relax it in response to the comment it was being too restrictive. in terms of when this facility is going to be up, we just got the legal documents up. the term sheet is now finished. we are in the process of doing

banks have adopted and extravagance are but of approach to this. this is around kyc services. it is a result of penalties, associatedh breaking, anti-money-laundering regulations, the threat of sanctions. nothing new over the past few years. beu have seen banks conservative for this. banks are turning away business and deals where there is heightened risk of exposure, fines, and penalties. morgan stanley decided to push back the opportunity to underline the ipo of one insurance group back in 2017 due to a lack of transparency around the company's ownership structure. that had nothing to do with sanctions, regulations, whatsoever. but when you look at the financial penalties and the breach in u.s. sanctions, they are the highest in the world. almost $9 billion handed out to bnp involving transactions with iran, cuba. $2 billion conducting transactions and sanctions countries. sanctioned countries. they are becoming conservative in their actions. -- 012, 2013, it is definitely something that comes first and foremost as a on how the banks manage the regulatory risk going forward. >> banks are under no obligation to fol

protesters threw stones and others stormed a number of government ministries the offices of the association of lebanese banks were also trashed. residents are angry that they've been left to pick up the pieces of their shattered homes and neighborhoods that are saying that the state has been noticeably absent in recovery efforts as prime minister is calling for early elections saying it's the only way out of the crisis. as michael bennett when you know we we cannot face these problems unless we have early elections to elect new politicians and a new parliament we need a new political elite and a new parliament we need to work together to overcome this difficult period we know and i know the people have questions about the catastrophe and how the government plans to handle it the catastrophe is way bigger than anyone could imagine the impact my stay forever. in other headlines the number of people have died of covert 1000 in brazil has passed 100000 according to a brazilian media and media consortium see only only the 2nd country to reach that tragic milestone after the united states activists of marked the m

bank holiday, but the dax gaining 0.6%. the cac up 0.7% in paris. wirecard's collapse has kicked off a scramble for the fintech company's assets. wired card u.k. will sell its technology, associated relationships to another company. here in germany, deutsche bank has submitted a bid for some of wirecard's assets in its home country. joining us is the ceo of rails bank technology, and they are buying those u.k. assets. nigel, thanks for joining us this morning. can you tell us any specifics about numbers? how much are you paying? what are you getting? guest: unfortunately, we cannot disclose the amount, but what we are guessing is the customer base, the cardholders, some technology, and some of the employees as well. railsbank. the reason for that is to try to bring civility -- bring stability back to the tech market in the u.k. because this has been a devastating situation. we need to make sure we get confidence back again. also a fairly opaque situation. wrongactly sure what went and what the legal ramifications will be in the future. how do you avoid liability when assuming these assets for future legal risk? guest: that is a very good question. in whatthe issues are is called

the times" and for my book is that there was a widespread knowledge within deutsche bank that trump and his associates, when they came for loan after loan after loan, they were routinely exaggerating and overstating the value of assets and trying to make their accounts look a lot better than they were. so there was a widespread perception within the bank that trump was, you know, not playing it particularly straight. and from a prosecutor's standpoint, what they're generally going to look for in a bank fraud case is whether there's intent to mislead. it doesn't actually matter, i don't think, whether trump successfully did mislead, it's a question of intent. having spoken to a lot of people inside the bank on this, they certainly perceived the intent was having been to mislead. so it will be interesting to see how the district attorney handles that information and how they weigh the strength of that from a criminal standpoint. it's hard for me to make an accurate, safe prediction on that. >> i hear you and i feel you on that. as also not a lawyer, i feel like just covering the trump administrationment

solutions operation associated assets were sold to a bank when an agreement was made.n mobile banking platform. sure of theuite sale price. to administrator was keen make sure nothing would into liquid. yousef: let's turn to germany now. what is the latest on the front when it comes to bids for the wirecard assets there? sarah: bloomberg news reported last week that deutsche bank, germany's largest lender, had submitted a bid for some of wirecard'ss -- german assets. according to our report, all of the nonbinding bids were considered well below the 100 million euros the wirecard administrator sees. yousef: you have the finance committee that will hold its sessions today on wirecard. high in termste of them coming out with clear guidelines, is intent? sarah: absolutely. there are a number of institutions for a potential theing for not spotting fraud of the century. it is a bit of a blame game focusing on the question of why authorities, including germany's banking authority, failed to take a harder look at the payment company. yousef: thank you so much. plenty more cove

banks around the world had adopted a monetary policy framework known as inflation targeting. although the precise features differed from country to country, the core framework always articulate and inflation go. inflation targeting was also associated with increased communication and transparency designed to claire on the central banks policy intentions. this emphasis on transparency reflected what was then a new , that policy is most effective when it is clearly understood by the public central banks generally do not focus solely on inflation. under ben bernanke's leadership, the federal reserve adopted many of the features associated with inflation targeting. we made great advances with the initiation of quarterly press conferences and the summary of economic projections which comprises the individual economic forecasts of fomc participants. board vice chair janet yellen led an effort to codify the approach to monetary policy. committee 2012, the issued its first statement on longer goals and monetary policy strategy which we refer to as the consensus statement. a central part of this statement was the articulation of a longer run inflation goal of 2%. because the structure of the labor market is strongly influenced by nonmonetar

carrying us flag some calls with messages such as protect all police and bank the police state pumper number of the national police association on day retired officer himself says the local authorities have no idea what consequences that plans might have. this point the seattle city council is like your kids it is socialist candy shop they see their opportunity and they're seizing it to get their ideology across and they're not really thinking ahead as to what the ramifications are going to be for having civilians handle what are police calls we've been training police officers at police academies based on information and science that's been studied you know over decades and we're refining it as we go along and police work obviously isn't perfect it's never going to be perfect or we strive to make it better. you know they they think they can look at a call afterwards and say oh well look at this the police didn't need a gun they didn't use use force when we go to a call we don't know we're not going to need to use force or need a gun until after the calls already done sometimes uses of force and even illegal horse happened on

banks. actually learnnd to nonprofi onprofits, university of wisconsin, which you used to be associated with, goes to debt rather than relying on bank markets. that's true for many hospitals as well. is a market that has not been extensively tapped by many banks and i think it's a for many banks. i think there is an opportunity or nonprofits to be able to access bank financing through this program. we did make significant adjustments in the term sheet. we were thinking about the term sheet and the adjustments we made between the first and sheet, we spent an extensive amount of outreach nderstanding how banks underwrote these loans and how underwrote these loans. this broadly matched what many the criteria they used and between the first and second term sheet we did relax to the comment it was being too restrictive. in terms of when this facility be up, we just got the legal documents up. is now finished. we are in the process of doing the programming now. take us g to probably another several weeks before running.nd i would highlight now that the legal bank loans don't get made quickly so no

bank was the institute first. your recognized for five minutes. commission, myhe name is learn anderson. i'm senior vice president of the associate general counsel of the bank policy institute. i thank you for being a witness. publica non-profit policy research and advocacy representing the nation's leading banks. our members have been employing ailey ii million americans, nearly 72% of loans and half of the small business fonts. api appreciates the efforts to date and by congress, treasury and the federal reserve to tackle the covid crisis and provide relief to household and businesses. main street requires credit underwriting decisions on a heterogeneous set of bank bars, which is not something the federal reserve has done before. with the expansion of main street to nonprofit organizations which is different across different sectors, the federal reserve ventured even further into uncharted territory. api working with member banks have been gauged in commenting on the -- ensuring race management to ensure funds. an engaging in an iterative process to try to improve the end result. we are pleased the program began excepting regi

accusing the nra leaders of using donations as a personal piggy bank, but the nra says this is nothing on dissolve the national rifle association >> the organization went unchecked for decades. well top executives funneled millions into their own pockets. >> reporter: in a lawsuit filed today, new york state alleges 4 nra leaders including executive vice president wayne lapierre failed to manage nra funds and failed to follow state and federal laws contributing to the loss of $64 million in just three years. >> they use millions upon millions of dollars from the nra for personal use including for lavish trips for themselves and their families. in addition to grossly misusing these funds for personal use, mr. wayne lapeer created an illegal pass-through arrangement to conceal the very nature of these expenditures. >> reporter: in a statement the nra president says this was a baseless premeditated attack on our organization and the second amendment and the freedom it fights to defend. she adds, our members won't be intimidated or bullied in defense of the political and constitutional freedom. the nra has 5 million member supporte

the first bank robbery occurred on february 13th of 1866. they robbed the clay county savings association in liberty, missouri, and made off with $60,000 in cash and bonds. it was by far their most lucrative bank robbery of their career. this robbery was the first daylight, peacetime armed bank robbery in u.s. history. now, during their escape, gunfire erupted and an innocent 17-year-old bystander was killed. this actually kind of set a precedent for the james/younger game because innocent bystanders were often killed during their bank robberies. soon, however, they tired of robbing only banks. part of that was that banks had started to install time lock vaults, so it was a lot harder to rob them. so they began turning their focus on railroads and stagecoaches as well because those carried large shipments of money. their first train heist was july 21st of 1873 when they robbed the chicago rock island and pacific railroad while it was traveling in iowa. five members of the gang pulled some track up, and when the train hit that, it derailed and overturned, and the locomotive engineer was ac