banks j.p. morgan h.s.b.c.'s standard chartered bank deutsche bank and bank of new york mellon have put greed and corruption over decency in public good.

banks j.p. morgan h.s.b.c.'s standard chartered bank deutsche bank and bank of new york mellon have put greed and corruption over decency in public good. color me shocked according to buzz feed a treasure trove of secret u.s. government documents real these giants of western banking move trillions of dollars in suspicious transactions enriching themselves and their shareholders while facilitating the work of terrorists kleptocrats and drug kingpins and that the us government despite having the power to do something. does nothing to stop this the secret files are made up of suspicious activity reports or sars for short they were filed with the u.s. department of treasury spine anshul crimes and forstmann network between the years 1900 $99.20 and that these sars reports document more than 2 trillion 2 trillion dollars worth of dubious and possibly criminal transactions completely facilitated by these major lenders and other financial institutions as rachel woolley the director of financial crime and regulatory consultancy firm marigot told c.n.n. b.b.c. these files expose a systemic failure across the entire finan

deutsche bank and h.s.b.c. h.s.b.c. the biggest u.k. bank deutsche bank the biggest german bank i.e. the biggest european bank so are we going to do anything with them we can't write because those are our allies one of them will end up being acquired by j.p. morgan i think that's clear like it's like u.b.s. bought paine webber it was a huge intercontinental merger at that time to nobody thought that was going to happen but you'd be more going to buy either deutsche bank or h.s.b.c. well we'll see about that but back in the u.s. and i think you know my theory is that with this next we have a lock downs and this collapse in the banking shares i think the u.s. is just going to have to step forward to you know if this is their empire they're going to have to. because they have the reserve currency they're going to have to start sending checks to europeans british might be 1st i think u.s. treasury secretary minucci trump would support additional p.p.p. money you know talk of scams here is like tens of billions of dollars just thrown at people we personally know several billionaires that

banks j.p. morgan h.s.b.c.'s standard chartered bank deutsche bank and bank of new york mellon have put greed and corruption over decency in public good. color me shocked according to buzz feed a treasure trove of secret u.s. government documents real these giants of western banking move trillions of dollars in suspicious transactions enriching themselves and their shareholders while facilitating the work of terrorists kleptocrats and drug kingpin. and that the us gov. despite it having the power to do something does nothing to stop this the secret files are made up of suspicious activity reports or sars for short they were filed with the us department of treasury spine anshul crimes and forstmann network between the years 1999 and 2007.

authority thin sank seem to show how banks helped to circumvent international sanctions including those against iran and syria danish and british banks but also deutsche bank are implicated in the leaked files all over the world criminals are using the global financial system to launder money it's a dirty but lucrative business for the banks. if a bank notices a suspicious transfer it has to report it to the authorities. thousands of such reports were of time by by the fayed news. and then evaluated by the i.c.i. jai it's an international network of investigative journalists. they have discovered evidence of money laundering worth $2.00 trillion dollars. you could learn a lot by handling money from criminal sources. so that's why it's hard for banks to say no to criminal money. in germany dortch a bank has some explaining to do the country's largest banks already had to pay millions in fines in $27.00 tane after dodgy dealings in russia. the investigation reveals that those illegal activities a much more expensive than previously thought russian criminals used torture banks moscow branch to loan to millions the current c o christian saving served as head o

commerzbank has appointed deutsche bank -- for its restructuring program. here to comment is jonathan tice. bankbank -- if you look at hsbc, this bank has been under immense pressure for the last couple of quarters. and now one of its biggest shareholders wants to take a bid on it. therenk that they think is going to be a big turnaround? >> [indiscernible] it says to hong kong investors that there is going to be a dividend then they will restart dividends. that was a big part of the selloff when they were forced by the pay rate cut. look,k it is also saying i think this has got quite a future and it is an expensive now. if you look at the size of -- it is negligible. they will still have a place in china, do not give up completely. franciene: does it tell you that once they start repaying dividends, a lot of these banking stocks are considered cheap? dividend part of the equation is -- the regulators are going to say -- these things are working in most cases. the issue still is the low single-digit r.o.e., two to three years with no revenue growth because of where rates are. we need restructurin

authority fins and seem to show how banks helped to circumvent international sanctions including those against iran and syria danish and british banks but also deutsche bank are implicated in the leaked files. all over the world criminals are using the global financial system to launder money it's a dirty with lucrative business for the banks. if a bank notices a suspicious transfer it has to report it to the authorities. thousands of such reports were of time by by fayed news and then evaluated by the i.c.i. jai. it's an international network of investigative journalists. they have discovered evidence of money laundering worth $2.00 trillion dollars. you could learn a lot by handling money from criminal sources. that's why it's hard for banks to say no to criminal money. in germany bank has some explaining to do the country's largest banks already had to pay millions in fines in $27.00 tane after a dodgy dealings in russia. the investigation reveals that those illegal activities a much more extensive than previously thought russian criminals used torture banks musk i branched along to millions the current c.e.o. christian setting served as head of corpor

department appear to show how banks helped circumvent international sanctions including those against iran and syria danish and british banks as well as germany's deutsche bank are among those implicated. all over the world to using the global financial system to launder money it's a dirty with lucrative business for the banks. if a bank notices a species transfer it has to report it to the authorities. thousands of such reports were timed by both speed news. and then evaluated by the i.c.i. jai. it's an international network of investigative journalists. they have discovered evidence of money laundering worth $2.00 trillion dollars. you could learn a lot by handling money from criminal sources. so that's why it's hard for banks to say no to criminal money. in germany dortch a bank has some explaining to do the country's largest banks already had to pay millions in fines in $27.00 tane after dodgy dealings in russia. the investigation reveals that those illegal activities a much more extensive than previously thought russian criminals used torture banks musk i branched along to millions the current c.e.o. christian setting served as head of corporate order t

double trump is raising some uncomfortable questions for germany's largest lender deutsche bank namely why did deutsche bank loan mr trump $2000000000.00 at the same time other banks including all u.s. lenders were not willing to do so and while those who bank may be handling those loans we cannot say tonight who or what is behind that money in other words we don't know who owns the debt of u.s. president donald trump and adding to this puzzle is the role played by the son of a former u.s. supreme court justice just in kennedy son of former justice anthony kennedy was a division head and contact for donald trump at deutsche bank kennedy was close to the then future president at the same time that he was lending money to mr trump now the optics of this are horrible for deutsche bank so bad that author and political scientist norman ornstein tweeted yesterday if i were door to bank executives who gave loans to trump when no one else would including anthony get the sun i would be very very nervous right now. our atlas speak with a man who voice that opinion norman ornstein joins me he's a political scientist a

donald trump is raising some uncomfortable questions for germany's largest lender deutsche bank namely why did deutsche bank loan mr trump $2000000000.00 at the same time other banks including all u.s. lenders were not willing to do so and while those who bank may be handling we cannot say tonight who or what is behind that money in other words we don't know who owns the debt of u.s. president donald trump and adding to this puzzle is the role played by the son of a former u.s. supreme court justice just in kennedy son of former justice anthony kennedy was a division head and contact for donald trump at deutsche bank kennedy was close to the then future president at the same time that he was lending money to mr trump now the objects of this are horrible for deutsche bank so bad that author and political scientist norman ornstein tweeted yesterday if i were door to bank executives who gave loans to draw when no one else would including anthony get the son i would be very very nervous right now. arliss speak with the man who voice that opinion norman ornstein joins me he's a political scientist at the america

financial authority seem to show how banks helped to circumvent international sanctions including those against iran and syria danish and british banks but also deutsche bank are implicated in the leaked files. all over the world to using the global financial system to launder money it's a dirty but lucrative business for the banks. if a bank notices a suspicious transfer it has to report it to the authorities. thousands of such reports were of time by by speed news. and then evaluated by the i.c.i. jai. it's an international network of investigative journalists. they have discovered evidence of money laundering worth $2.00 trillion dollars. you could learn a lot by handling money from criminal sources. so that's why it's hard for banks to say no to criminal money. in germany dortch a bank has some explaining to do the country's largest banks already had to pay millions in fines in $27.00 tane after dodgy dealings in russia. the investigation reveals that those illegal activities a much more extensive than previously thought russian criminals used torture banks moscow branch to loan to millions the current c o christian saving served as head of corporate o

of course, commerce bank tried and failed to merge with deutsche bank. get bought by deutsche bankar. that strategy did not work out. now, it's expected that this new leader who is coming in from deutsche bank has been the leader of their retail business and is going to be able to slim down the workforce, cut jobs by about 10,000, and hopefully ring the shares back. cerberus has to make nine euros and change before it breaks even. the german government has to be a 24 euros before it breaks even on commerce bank. manus: there is a long way to go with that trade. deal that maybe do a he quite likes around europe. that could change everything. newss made some good headlines in terms of the market place in china but when it looks like dime where, they have succession issues to deal with. he is in the lineup. joe kaeser is at the top of the list. siemens, it ceo of is typical practice in the german corporate culture for an outgoing ceo to then become chairman after he takes a little bit of gardening leave of the supervisory board. we had it planned for him to take this position, but sha

for one, an investigation naming multiple banks, deutsche bank being one of them, standard inrtered, saying the engaged moving suspicious money. deutsche bankt $3 trillion of suspicious money was reported. hsbc getting hit especially hard because of a report they are going to be added to china's unreliable entity list, which would give them restrictions on things like investments, visas, and trade. china would designate them a national security threat which would hamper hsbc's plan for expanding in mainland china. on asianc, 25 year low trading. there is a leisure stock. dani: this is part of the story we have been talking about all day. perhaps more restrictions coming onto the u.k. with the cases of coronavirus spiking. u.k.'s health minister plans to speak today saying we are at a critical point. look out for some leisure names to be especially hard-hit. jd witherspoon's. restaurants, cinemas, these are all stocks that could be volatile. your dani burger with stocks to watch. we have european equity markets looking down. euro stoxx 50 futures down 0.9%. ftse futures down 1.3%. dax futures around 1% weaker. iscern around coronavirus one o

sanctions and one of the big data drops here shows that deutsche bank was involved the scylla taking several of those transactions between 2. banks which ultimately was money which made its way to iran even though it shouldn't have and there are other cases linking deutsche bank to some transactions which saw russia is also evading sanctions so that some of the things that's accused of deutsche bank has responded to the international consortium for investors journalists to give a statement of a few days ago saying they accept there was wrongdoing to some extent that there was practices that they weren't happy with but that this is very much in the past that this these years are in the past and that it's a different bank today that's their take on this right are there but very briefly that this is been going on for years he lived has just been happening for so many years that's a very good question paolo to put it to you like this very simply if you go on holidays tomorrow and you decide to splurge on your holidays and you spend loads of money on your credit card you may well get a phone call from your banks and are these transact

department of pier to show how banks helped to circumvent international sanctions including those against iran and syria the danish and british banks as well as germany's deutsche bank are among those implicated in the leak files. all over the world criminals are using the global financial system to launder money it's a dirty but lucrative business for the banks. if a bank notices a suspicious transfer it has to report it to the authorities. thousands of such reports were of time by by fake news. and then evaluated by the i.c.i. jai. it's an international network of investigative journalists. they have discovered evidence of money laundering worth $2.00 trillion dollars. you could learn a lot by handling money from criminal sources. that's why it's hard for banks to say no to criminal money. in germany dortch a bank has some explaining to do the country's largest bank already had to pay millions in fines in $27.00 tane after dodgy dealings in russia. the investigation reveals that those illegal activities a much more extensive than previously thought russian criminals used torture banks moscow branch to loan to millions the current c.e.o. christian setting served as

bank customers are said to have laundered around $10000000000.00 of illegal earnings in russian rubles through the financial centers of moscow new york and london. u.s. president donald trump has also been a special client of deutsche bank for more than 20 years with his real estate financed by the bank he also did business with kremlin associated russian oligarchs . how corrupt is deutsch about. past that question straight on do you clearly dodge about its business model has involved a lot of smoke and mirrors your opening statement said the bank was just beginning to recover really. day that's a good time at the beginning of the year the price did actually rise which hasn't happened in the minutes seemed that fine was stabilizing but then of course $2.00 things happened one was the crisis which which which hits the fan quite badly. this thing be faced revelation so it doesn't really look as if stabilising anytime soon so matthew recover. in share price is one part of the issue but of course to recover is also a question of whether they can recover internally from what you described as a very problematic corporate culture where is that coming from well it just comes from the history of the bay quite frankly i mean this is nothing new there have been you know books written about the

banks including deutsche bank and jpmorgan, raising questions about money laundering. analysts downplayed the report, but it could bring more scrutiny to the industry, and we saw a backlash against wells fargo's ceo where he i attributed the difficulty in hiring minorities to a, quote-unquote, very limited pool of black talent, of course, everyone's grappling with racial justice and lack of diversity in the financial services industry, and guesserty experts really see this as an excuse. you know, there's plenty of talent out there, perhaps the banksot looking for it. and, you know, not attracted to -- but in general it's been a rough go for the banks. jack: at the same time, earnings are actually looking decent. >> yeah. even if you look back over the last three years prior to the pandemic, the spider bank etf had 20% average earn growth, but the etf was down 30 over that time period. so we have some good things coming around. we're seeing goldman sachss, for example, upgraded at ubs, really a surge in trading volume that help it. jack: we'll be watching carefully. banks are the cheapest sector in the s&p 500. >>> coming up, what merrill lynch wealth advisers are telling nest clients. andy sieg joins me next. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connecti

banks. deutsche bank, j.p. morgan, other banks as well.om our finance -- our asian finance senior editor, david stanley. some of the transactions are going all the way to 1999 to 2017. a lot of this is old news, no? >> it is old news and new news in some way. some of the state to 2017, not that long ago. this is something that has been flagged many times. these banks have paid a combined $20 billion in fines. we are talking to trillion dollars of funds that have been moved potentially with money laundering. according to this report, that is just the tip of the iceberg. it is raising questions about these banks abilities to stop this activity. report telles this us about what looked like failed efforts to stop money laundering? extent toshows the not only the depth, but the breadth of the problem. it is not being done by criminals and their garages. these are done by major financial centers, led by london , followed by new york. clearly, it is a problem at the highest level. deutsche bank seemed to carry the largest load here, but also some

department appear to show how banks helped to circumvent international sanctions including those against iran and syria danish and british banks as well as germany's deutsche bank are among those implicated. all over the world criminals are using the global financial system to launder money it's a dirty bit lucrative business for the banks. if a bank notice is a suspicious transfer it has to report it to the authorities. thousands of such reports were of time by bus made news. and then evaluated by the i.c.i. jai. it's an international network of investigative journalists. they have discovered evidence of money laundering worth $2.00 trillion dollars. you could learn a lot by handling money from criminal sources. so that's why it's hard for banks to say no to criminal money. in germany dortch a bank has some explaining to do the country's largest banks already had to pay millions in fines in $27.00 tane after a dog dealings in russia. the investigation reveals that those illegal activities a much more extensive than previously thought russian criminals used torture banks moscow branch to loan to millions the current c.e.o. christian saving served as head of cor

most american banks won't -- quit financing trump years ago. he turned to deutsche bank and deutsche bank is an outlier and an outlaw among many of the world's banks in the world's legitimate banks, and trump is clearly, there's something that putin has on trump. we hear everything ranging from sex tapes to huge debt that he owes money as kamala harris pointed out. a lot of money. he owes to somebody. and so clearly, some things are going on there and we should know what they are. trump clearly doesn't want the public to know. it's why his behavior toward the autocrats, particularly putin, is so sordid and un-american. i think that the more we know, the more even trump's base will begin to turn against this president who has betrayed not just workers in youngstown, ohio, but he's betrayed our country by what he's done internationally with the russians and other autocrats. >> and he's going to try to convince people that joe biden is going to raise everybody's taxes. and that's a big concern. when we actually look at the polling, president trump still does better on economic issues, even w

bank was willing to do business with the trump for years. it was only deutsche bank. deutsche bank on the institutional side, that's where you do business banking, kind of halfway through the relationship punted him and sent him to the private wealth side where there has always been questions. but if you even just go through this "new york times" reporting, 2018, alone, he announced in his disclosure that he made at least $434 million. the tax records, they show that his bottom line that year, he lost $47 million. now, what the president is going to say, i'm a businessman, i have very complicated business dealings, or i'm making money on one thing, i'm losing money on another, it's complicated. that's what he's going to say in the white house press briefing room then he's going to move on from it, but to david's point, this is just the beginning. this "new york times" reporting basically cracked this coconut open and there's going to be a lot to dig into from here. >> jamil, i want you to zoom out for me and talk to me a little bit about the consequences of this conversation around

banks including deutsche bank and jpmorgan, raising questions about money laundering. analysts downplayed the report, but it could bring more scrutiny to the industry, and we saw a backlash against wells fargo's ceo where he i attributed the difficulty in hiring minorities to a, quote-unquote, very limited pool of black talent, of course, everyone's grappling with racial justice and lack of diversity in the financial services industry, and guesserty experts really see this as an excuse. you know, there's plenty of talent out there, perhaps the banksot looking for it. and, you know, not attracted to -- but in general it's been a rough go for the banks. jack: at the same time, earnings are actually looking decent. >> yeah. even if you look back over the last three years prior to the pandemic, the spider bank etf had 20% average earn growth, but the etf was down 30 over that time period. so we have some good things coming around. we're seeing goldman sachss, for example, upgraded at ubs, really a surge in trading volume that help it. jack: we'll be watching carefully. banks are the cheapest sector in the s&p 500. >>> coming up, what merrill lynch wealth advisers are telling nest clients. telling nest clients. andy ( ♪ ) ♪ i need it so bad don't call it a hobby. it's way more than just a job. this is how we live every single day. can we go and play? (roaring of engines) ( ♪ ) ♪ i needed to try ( ♪ ) ♪ needed to fall ( ♪ ) ♪ i needed your love ♪ i'm burning away ♪ ♪ i need never get old ♪ i'm burning away ♪ so you're a small businor a

there have been questions about deutsche bank and deutsche bank's involvements with various foreign entitiesat is a legitimate open question. but the reason it's a national security risk and would be for anyone applying for a federal job on a security screening is that debt is a giant red flag. alarm bells go flashing when you have a lot of debt, it makes you vulnerable, tim. is that right? >> that's completely right. as it is for, you know, anyone who owes debts to someone else is under that other person or entity's influence. deutsche bank is particularly problematic, because it's had a troubled history in recent years with money laundering issues, with bid rigging in financial markets. it has an operation in the u.s., the federal regulatory trigger lates deutsc industry regulates deutsche bank. that's a problem, because trump's a member of that process and a member of the bank. i think this has been one of the larger and more dangerous things hanging over the trump administration from the second he took office. the president of the united states is exempt from a lot of conflicts of intere

shows that banks around the world have helped divert and conceal more than 2 trillion dollars worth of criminal funds well the banks and named in the documents include germany's deutsche bank and the comments bank as well as britain's h.s.b.c. and the u.s. bank j.p. morgan chase well the documents the leap from the usa government appear to show how banks helped to circumvent international sanctions including those against iran and syria where the banks say many of these transactions took place a long time ago and that they have since tightened their rules on money laundering . well needless to say this has sent shock waves through the financial sectors lisette try to find out more from sven gold he is a member of the greens in the european parliament and he is actively pushing for a parliamentary hearing to investigate this issue sir good to have you here with us now earlier in the evening we spoke with a senior market analyst in london who said well you know basically nothing is going to change because we all expect some illicit dealings to take place in the banking sector so i'm wondering in terms of oversight because this is where you and your colleagues come in place d

banks. are you concerned at all about these latest issues? do you seem at the open to not be as concerned perhaps, at least for u.s. banks >> boich deutsche bank is a mes. well, that was -- deutsche bank to link jpmorgan with deutsche bank without jpmorgan coming out and saying something alo look at that list if i were jpmorgan, i would come out this morning and say, listen the allegations we're going to prove otherwise. but i'm not getting that and, you know, carl, i know that you get a lock down in europe and you get a problem with some banks and that causes us to go down big, carl i don't know doesn't seem right to me >> all right we'll keep an eye on it, jim september is living up to its name as futures are weak we're coming off the third week down and as we said at the open, s&p looks to open at an eight-week low we'll take a break here and back in a menomt. stay restless with the icon that does the same. the rx, crafted by lexus. lease the 2020 rx 350 for $409 a month for 36 months. experience amazing at your lexus dealer. to deliver your packages. and the peace of mind of knowing that important things like your prescriptions, and ballot

banks moved massive amounts of elicit money over a period of 20 years despite red flags over the origin of the money. the five banks appearing most within that document, hsbc, jpmorgan chase, deutsche bankered and bank of new york mellon. among the types of transactions, funds processed by jpmorgan for potentially corrupt individuals and companies in venezuela, ukraine and malaysia money from a ponzi scheme and money linked to a ukrainian billionaire. by the way, they're being hit hard in european trading now on the report they are off 6%. well as you might have gathered it's a very busy weekend in washington and around the world making it an even busier monday for the markets and your money topping the list, president trump saying he has agreed in concept to a deal where tik tok will partner with oracle and walmart becoming a u.s. based company called tik tok global. that would delay the commerce department ban on the site that was supposed to go into effect last night still current tik tok parent and byte dance will maintain it's 80% ownership stake in the new american company another wrinkle for u.s.-china relations comes after the u.s. sent a top state diplomat to taiwan for a visit