bullies firm of chemists disgraceful behavior from a bailed out banks so r.b.s. royal bank of scotland is a bailed out bank it's eighty two percent owned by the u.k. taxpayer and they have basically given a company called tri health which is a pharmacy into bankruptcy through this misselling of interest rate swaps of course we drained one point two million pounds out of the chemist's bank account and then g r g of course global restructuring group. the thug section of r.b.s. shut them down and shaking them down there's a video or audio recording of it but i think i have a better interpretation of it basically r.b.s. calls this this chemist and the chemist tries to tell him well you're the one that bankrupted me through these this misselling of these interest rate swaps and then i got twenty four hours come up with the money come of the plan give us the money give us the money now there's obviously a good example you know b.s. is there and they got this chemist and they give them the garage and they go oh you're going to. show you this is my impression of r.v.'s doing business with one

bullies firm of chemists disgraceful behavior from a bailed out banks so r.b.s. royal bank of scotland is a bailed out bank it's eighty two percent owned by the u.k. taxpayer and they have basically given a company called tri health which is a pharmacy into bankruptcy through this misselling of interest rate swaps of course was drained one point two million pounds out of the chemist bank account and then g r g of course global restructuring group. the thug section of r.b.s. shut them down and shaking them down there's a video or audio recording of it but i think i have a better interpretation of it basically r.b.s. calls this this chemist and the chemist trying to tell him well you're the one that bankrupted me through these this misselling of these interest rate swaps and then i got twenty four hours come up with the money come of the plan give us the money give us the money now there's obviously a good example you know b.s. is there and they got this chemist and they give them the garage and they go oh you're going to kill you kill you this is my impression of r.v.'s doing business w

royal bank of scotland who's part of the big four banks in this country r.b.s. agents b.c. the weights and when the other one. there are using these terrorist you say financial terrorism against british citizens yeah it's crimes against the british public and claims against the state because the consequences are hundreds and hundreds of british businesses that were viable and another part of the r.b.s. propaganda is to say that the old zombies and very distressed. again tomlinson and others are commenting that many many of the businesses that are tipped into g r g r are long term sustainable profitable viable businesses so the tipping. essay meese into into geology and then the asset stripping them one of the things that we need to create but the tomlinson report is that he was confined by vince cable to talk about ai semi's and he's tended to talk about stripping on property. actually the reality is that it's every company that's ever gone through regardless of size small medium and large and including some very large publicly listed companies some large brand some large r

stake is very difficult to explain to taxpayers for example that they had to bang out the royal bank of scotland in two thousand and eight. and then rigging continued well into the crisis into two thousand and ten. the royal bank of scotland was in foal to say the least i can happen is that they have to pay small fine. nineteen on sentences and to me much. and how the markets reacting to the latest and penalties. his report are calling on board at the frankfurt stock exchange many people that the exchange are convinced that the appeal from a basket of that what's that to find that for example go to bank has to pay now could've been higher and that the profits the banks made by manipulating the interbank lending rates was far higher than the find the banks have to pay now. well the stock market in general this with his date sales are donated one reason for this was that some economic data from the united states again came in better than anticipated no more investors think that the generous money supplied by the central bank and the us so it might become less generous. was in frankfurt here on the

the world bank of scotland a couple down a southport were financially terrorized by osborne cameron and royal bank of scotland and that's the point that's the dirty war the dirty wars it's dirty money it's dirty money war so that's why the film at the end of the day lacked a lot of it because it failed to get into the real dirty financial aspect of what these mass extrajudicial murders it's all about the money you know it to think that it's about some kind of a moral deficiency by some group of people is to not understand that sense more ality doesn't trade on the new york stock exchange there is no morality there never will be more reality and so you can't even start from a place of morality you have to start from a place of sublime three hundred sixty degree corruption that has no beginning or end it's a mobius strip of corruption and it all goes back to the terrorist of terrorists the central banks and anything less is to then to sell out joe blow my mind e bay founder pierre oh my god force on a big fat paycheck and not come on a show and talk to the people is unconscionable in my o

barclays lloyds or royal bank of scotland in particular they are participating in the exactly the same fraud with the help and participation of the bank of england it's a program called quantitative easing where the central bank loans the commercial banks to buy stock or bonds in this case in the central bank so they are doing the exact same thing that in iceland is a crime i think because iceland russia iran and china are all banking systems that are outside of the control of the federal reserve bank of america or the bank of england in the u.k. they are free to prosecute financial crimes we don't have that freedom in the u.k. because the bankers are protected by the bank of international settlements in switzerland the federal reserve in new york who cool loued on a global basis to line the pockets of the criminals in this case the bankers in the u.k. and america and of course the economies are suffering catastrophic only as a result of this poverty is on the rise and living standards in the u.k. are crashing worse than they ever crowd going back to victorian times. any chance other h

is that if you look at what's happening in the uk right now to hsbc barclays lloyds the royal bank of scotland to take it there there participating in the exactly the same fraud with the help and participation of the bank of england. it's a program called quantitative easing where they signed to bank loans the commercial banks to buy stock or bonds in this case in the central bank said they are doing the exact same thing that in iceland is a crime. i think because iceland russia iran and china are all banking systems that are outside of the control of the federated reserve bank of america or the bank of england in the uk. they are free to prosecute financial crimes. we don't have that freedom in the uk because the backers are protected by the bank of international settlements in switzerland the federal reserve in new york to pollute on a global basis to line the pockets of the criminals in this case so the bankers in the uk in america. and of course economies are suffering catastrophic lee as a result of this poverty is on the rise and living standards in the uk are crash saying worse than the

this past few weeks has been a stark turn of royal bank of scotland they've recently been caught targeting individuals and companies for debt. eugenics i mean areas here they're almost they've got almost the whole program in place but isn't that rather a negative consequence of cheap money is that reward criminality well because it's a cheap money i mean you would have to drive writes down because i saw the debt bubble coming and so they're going to be conned cope with that level of debt servicing you've got to reduce of that risen but the double consequence of that is these are the people who are in the finance sector over here in the politicians with them they expect to get you know six to eight percent returns perenna above the right of inflation and if the economy's growing up less than one percent they've got to do that in a parasitic why and one way they can do it is by the sort of stuff you're talking about the role bank of scotland targeting businesses sending them and getting their assets selling those for profit coming out ahead it's piracy parasitic behavior the financial sector

the royal bank of scotland is losing its chief financial officer. ck is returning to santander after only two months on the job at rbs. his departure comes six months after the royal bank of scotland ceo stephen hester announced his own resignation. rbs says it expects a substantial loss this year after the creation of a bad bank. ahead, he leads one of silicon valley's most established venture capitalist firms. our exclusive interview with the founder of softtech is coming up next. ♪ >> welcome back. you are watching "the pulse." thesetalk about some of things we are seeing in the foreign exchange markets. i'm going to talk about dollar- yen. we topped out near the 103 level. this is one of the best risk indicators out there. correlationto see a between what is happening with the stock markets. they yen starting to gain traction, the dollar has been under a little bit of pressure. my question is, if you look at what is happening the last 24 hours, is this budget deal passes on capitol hill, the grant through stats -- the grassroots test, doesn't tha

this past few weeks has been the star turn of royal bank of scotland they've recently been caught targeting individuals and companies for debt. eugenics i mean areas here they're almost they've got almost the whole program in place but isn't that rather a negative consequence of cheap money is that rewards criminality well because it's a cheap money i mean you would have to drive writes down because i saw the debt bubble coming and so they're going to be conned cope with that level of debt servicing you've got to reduce of that risen but the double consequence of that is these are the people who are in the finance sector over here in the politicians with them they expect to get you know six to eight percent returns perenna above the right of inflation and if the economy's growing up less than one percent they've got to do that in a parasitic why and one way they can do it is by the sort of stuff you're talking about the role bank of scotland targeting businesses sending them and getting their assets selling those for profit coming out ahead it's piracy parasitic behavior the financial secto

treasury fining royal bank of scotland $33 million for violations of u.s. sanctions. they violated sanction programs in relation to iran, cuba and sudan. we are watching for that and in addition royal bank of scotland has their finance chief stepping down. the stock is down 4% at the moment. adam: we are also watching shares of mastercard. at stock soaring to an all-time high making some moves better for shareholders. the company announced a stock split with an increase the dividend and a new buyback program. the move takes mastercard out of the running to be $8,000 stock. it is the third most expensive stock on the s&p 500 behind price line and google. lori: the markets during the 4 initial public offering, hilton hotel after the close, companies reporting $2 billion in the deal making it one of the largest ipos this year even bigger than twitter. shares trade tomorrow on the stock exchange under the ticker symbol is shelled the. neil: free oil prices near the lows of the day after a bigger than expected drawdown. crude supplies dropped 10.6 million barrels last week,

royal bank of scotland fell more than 2%. the finance director resigned.sian equities declined across the board. chinese banking shares drug down markets. the hang seng down 1.7%. it was the worst performer in the region. tokyo's nikkei drifting lower 102.47 roughly. participants are adjusting their positions after a recent rise in the dollar. they are waiting for u.s. retail sales data, which is due out thursday, as the next trading cue. also the euro right around 141.07. >>> general motors has announced its australian subsidiary will stop production. >> this is an incredibly difficult day for everybody at holden, given our long and proud history of building cars in australia. >> the chairman emphasized holden's dealers will continue business as usual. holden is the only domestic a o automaker in the country. holden became less competitive partly to higher labor costs. about 2,900 workers could lose their jobs. ford has also decided to stop production there in 2016. it's citing sluggish sales. >>> all right, that is going to do it for biz tonight. let's g

the world bank of scotland is losing its chief financial officer.eparture comes six months after rbs ceo announced his own resignation. welcome back to countdown. the web began 10 years ago in paris. tech startupsfor to plot the future. are on thetions horizon? founder.ined by le web thank you for joining us. >> bonjour. >> when you started this conference 10 years ago, the jew ever trained you would still be -- did you ever dream you would still be here 10 years later? >> i had no idea of. i was just trying to help the ecosystem. -- it is aeneurs place for raising funding. we have an amazing story. uber got thef idea here. >> what are the other great ideas that have emerged from le web over the last decade? >> if you look at the last decade, we moved from the internet being on your screen to your top -- to your pocket. -- the bigmoving , jack dorsey launched square here on stage. it was there on stage, he did not know that twitter was important. company, and amazing sound service where you can discover new music and djs. competitionartup with 700 s

among those being fined is germany's deutsche bank which has ties with the biggest fine of about nine hundred eighty million dollars while bank of scotland was fined five hundred thirty million dollars. eu competition commissioner joaquin on the news says the european commission will continue to investigate other final rgnsoril offences. the stockce usobs da due on fridayhe key the dow jones industrial average ended down zero point one six percent fifteen thousand eight hundred eighty ninth. while the nurse that as virtually unchanged at four thousand thirty eight the house until my kids are reacting let's goo remai only god who is snding by at the time the stock exchange between what can you tell us a dramatized by let's go to the opening levels and see exactly where we stand to for today is thursday and a bit of a mixed opening their eyes you can see that in the kmart the lord and the topic say in the positive side and that cycling in about a positive territory actually for the first few minutes of the nikkei i'm talking about so we'll see how that develops just a t nikkei fell sharply just over two percent as the dollar traded well be

of businesses that agree to fix prices so they will all make more money." that sounds illegal to me. and that is exactly why the hammer was dropped on six banks. deutsche bank, royal bank of scotland, jpmorgan citigroup -- jp morgan, citigroup, and rbs. these are rates that banks charge each other tomorrow. >> what is shocking about the scandals is not just the manipulation of benchmarks, though it a serious infringement, but also cartels between a number of financial players. we want to send a clear message that the commission is determined to sanction these cartels in the financial sectors . enforcing competition rules will help ensure that financial markets truly work at the service of the real economy and not just the few. but it's not over yet. -- >> it's not over yet. other banks are actually holding out for something better. i cap actually withdrew from the libor settlement. it's not just libor. there are plenty of investigations of benchmark rate, foreign exchange, gold, oil -- take your pick. if it's a market, they might be playing with it. and speaking of oil, that brings us to cartel number two. this one is not illegal. more like an internationally accepted one. of cour

enterprises the ones that have already been by the way been destroyed by the government owned royal bank of scotland right this is part of the apartheid wall the interest rate or a monetary apartheid wall the u.k. tax authority if you will cheat those living on the right side of the apartheid wall with kid gloves they want to go after them and have them fulfill their legal obligations but if you live on the wrong side of the apartheid wall then of course the guy. it will go after you because you're not the right it's not the right skin color in this case but you're not that you don't know the right people so so like mandela's apartheid in south africa this is george osborne's apartheid in the u.k. based not on the color of your skin but who you know well it's also part of that whole military industrial complex political opponents the spy surveillance state we know for example under george w. bush they were allowing cia agents to work for banks so perhaps these officials and government are terrified that the fact that the n.s.a. is able to change their own financial data take money out of their bank

enterprises the ones that have already been by the way been destroyed by the government owned royal bank of scotland right this is part of the apartheid wall the interest rate or a monetary apartheid wall the u.k. tax authority if you will cheat those living on the right side of the apartheid wall with kid gloves they want to go after them and have them fulfill their legal obligations but if you live on the wrong side of the apartheid wall then of course the guy. it will go after you because you're not the right it's not the right skin color in this case but you're not that you don't know the right people so it's not like mandela's apartheid in south africa this is george osborne's apartheid in the u.k. based not on the color of your skin but who you know well it's also part of that whole military industrial complex political. the spy surveillance state we know for example under george w. bush they were allowing cia agents to work for banks so perhaps these officials and government are terrified that the fact that the n.s.a. is able to change their own financial data take money out of their bank acc

of their car by $6000. before federal tax credits and other incentives. the eu fines six institutions a record $2.3 billion for rigging benchmarks. including deutsche bank, world bank of scotlandroup. and another big-name red sox player trading his boston boss m to join the new york yankees. jacoby ellsbury is reaching a seven-year deal with the yankees worth $153 million. $22 million per year. that is a lot of money. liz: go indians. stop. they are always laughing at me. keeping up has always been expensive and a little bit laborious in the process. but new college pals creating buzz by bringing fashionable chic glasses at affordable prices. coming up we are talking to the cofounder neil blumenthal on their expansion plans and how they're going to take the world by storm. david: and while the market has closed lower over the last four sessions could stocks be set for a little bit of a rebound, a little bit of a pullback? we talk to why he thinks the market will resume their rally and now is the perfect time to get in. he will tell you where to get in coming up. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's

the market is changing and ubs is pulling out of six and come to the royal bank of scotland is pullingities. we will see more and more banks making those decisions. goldman says in the end, capital markets make good business. we do not know what the normalized return will be out there when other people have made their changes. they are sticking with the old model. morgan stanley is going with the new model. 2410 2050 will be fascinating because i think this is where we will start seeing the two trends are part. >> what is the read? who is doing better as a result? >> goldman. morgan stanley's -- >> is it in a better vision five years down the road? >> they make the argument that wealth management is a very predictable business. what they're really saying is the cost of equity should drop. if that is the case, morgan stanley with a lower could generate more value than goldman could with a higher because they are going after a risky business. class does morgan stanley have more earnings leverage? when retailainly do goes back. the operating level is huge. we have looked at retail and sai

royal bank of scotland group will pay $100 million to resolve u.s. probes into whether the bank violated u.s. sanctions laws against iran, sudan, burma and cuba. u.s. authorities said on wednesday. now the bank entered into agreements with the federal reserve, the treasury department and new york state department of financial services so $100 million in rep pir ragss and fines and other financial consideration considerations. those shares lower in the market today. >> thank you very much. believe it or not the five-year anniversary of bernie madoff's arrest. the ponzi king behind bars. what's life like for him now? our scott kohn speaks with madoff. ponzi schemes still alive and well. >> coming up, a mini madoff of the midwest comes clean. >> his biggest investors were saying your bank statements don't hold up. >> that story right here on "power lunch." ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-vol

. >>> back to the uk, royal bank of scotland has agreed to pay $1 million to settle u.s. probes into illegal transactions with iran, sudan, burma and cuba. rbs shares today, lloyds 20 odd million, as well, for poor selling. meanwhile, the co-op group has appointed paul myners to the board. and helia is with us in the studio to talk about that. i was shocked at how much lord myners is asking to do this job. i know. it's a big paycheck for him, a whole one pound. >> relief. >> i'm not sure how he's going to invest it. >> a savings account. >> it will sit along the 30 odd million that he's already earned famously. he was citi minister, he was very critical of ethics through the banking industry throughout the crisis. and he left the government to say that he was actually leading spiritual development, he was going to study theology, going to find god. so out with one methodist minister and in with a former citi manager who did find god. i think it is a bit of good news today. lord myners is going to lead this review into governance. >> actually, there is a new management tea

action taken today and the action taken yesterday in a negotiated settlement with the royal bank of scotland these are matters that take months to develop and we are working every day and i have said to hundreds of ceos make no mistake about it enforcement will continue. we are not taking our eye off of the ball at all and we will not. >> there are numbers of companies that are essentially front organizations for iran, front organizations to help the regime to be able to continue to proliferate into the work that they are doing. it seems to me that the bottom line with iran is will they have the right to enrich uranium? it doesn't seem to me that when we are pulling back on the number of designations from june essentially to this week that we have sent a signal of strength or it appears that we have sent a signal that america is weak, america is in decline and america's pulling back militarily and we are waking ourselves economically. >> if you look at iran's economy they are feeling the pain of the sanctions every day. the devaluation -- they are seeing all kinds of pain and that's only rea

society general, royal bank of scotland were among those fined.ears executive has reduced the stake to 48.4% down from the prior 55.4%. investors that decided to exit lam pert's stake shares were down. >> thanks. i was going to see how much -- he's still loaded, $5.9 billion. he still has half. >> roughly, yeah. >> let's get a check on gold prices and currency levels. joining us now the bks management, shaun is editor of the wealth report. our guest host wants to talk. can you say it? can't talk about it if i can't say it. what was the news? number in in terms of reserve currencies. >> in materiaterms of trade. the chinese economy and society itself becomes more open. it's a transactional unit. there's too much issue from property rights point of view to trust as a reserve currency. >> what about the reports coming out of the saudi arabia that they're negotiating with the chinese to pay for oil? >> that could happen. it definitely is going to take more transaction in the market. as far as just marking your money for investment purpose, that's the

the t royal bank of scotland, still a majority owned by u.k. government, is losing its cfo.ene. we have a summit at the end of next week in europe. after a mammoth session of finance ministers meeting last night, they have got some sort of compromise deal on the table for a bailout for the banks, but it will take ten years to phase in. each nation will have a veto. germany doesn't want to bail out everybody. that may cause problems down the line. meeting on wednesday, and full summit thursday and friday. fmoc next week. >>> and the dow is now down 85. hey, bob. >> people have been asking me, why is the market weak? and it started in the preopen. the futures right around 9:00, all of a sudden, drooped and drifted -- look at that. that's 9:00 a.m., before the market opened. issues in europe. all of a sudden, a spike in the euro at exactly this time. this is usually related, somebody selling something, and you can see the euro spiking up. we're a couple ticks away from the highest close since november 2011. look at that. $1.38 almost. so i think that there was some relationship

of today we will be is to stay tuned to pose like that. today scotland's award winning most of my mind to the bank and batsman is the man behind the killing instead we danced away his part to the pages of that excellent riots when hunting tax cuts in and out the whole section on the way he's hitting front is that the impossible that sets in fife in scotland. it's just been translated into french it's the second week in his new racing through the creation and saxophone welcomes field that is bought by james allan rowley as the king of thompson a lot something isn't working. so it's been cases of crime not to would you rather just be in two cases of rights into the byzantine moving new it's a tough question because deep down i didn't think i would write in crime fiction from writing fiction about contemporary scotland contemporary society but because my main character happened to be a detective it's been to the crime section of bookstores so suddenly it by accident i was a crime come to love and live with it and crimes that have been more popular. that's yet to win only be considered for an eye the prize a crime right to rule that the kind

resolution to revolution i think the bank is going to get engaged twenty four mark and forward to the birth of my second child dealt with the most growing whatever happens scotland's future now lies in its people's hands i think it means office going to try and go down the road and get them to not look after themselves not sure which way it's going to go down so that everything leave everything to me yeah. r.t. edinburgh. well it's all a call c.-k. people get up to celebrate new year of course try to come midnight the traditional song old lang syne will be sung by many people and that's actually a song that was written by scottish poet robert burns and a song about old acquaintances and of course as we gear up for that independence referendum and as we said with everything very much still to play for that song to take on a whole different meaning this time next year well reality is it needs to happen fifty percent plus one of the population doesn't vote for it the latest poll say just barely a third of supporting it so is it dead in the water really looking ahead. well i spoke to scottish minister alex salmond a couple of months ago and i put that to him that you