k: costing deutsche bank a record over $2 billion last month, but citibank says it is still in talks with investigators over another investigation involving rigging foreign currency markets, which could involve a guilty plea. our market makers anchor stephanie ruhle and another is with us here. reporter: it looks like they will pay about that amount in the upcoming settlement. there are going to be five banks, and they are expected to plead guilty, possibly even their parent company. how common is this? reporter: they were not that saw b.n.p. we paribas and another plead guilty, and that was the first of its kind for two banks to do that, and now we are probably going to see five banks plead guilty on the foreign exchange case. it was very unusual up until just about a year ago, and now it is becoming very commonplace, and now they are asking if the department of justice is going to start losing some leverage in solving these cases. scarlet: the compliance costs are extraordinary, and they are not going away. exiting his misses. deutsche bank decided they were going to get out of som

erik: we'vestephanie: we are seeing a red headline across the terminals on citibank.s room with julie hyman. julie: this is part of the news we have been following on the currency investigation from the justice department. citigroup disclosed in a orderly filing that it has been discussing the currency settlement and it is in talks with the justice department. citigroup says the department of justice declined to prosecute it on libor rigging. last week, bloomberg news reported that the justice department was seeking to wrap up a five bank deal this coming wednesday. that would include ubs. that was not previously ported -- reported and it looks like citibank is disclosing more details but not a lot. some of these are trickling out on this currency rigging investigation. we still expect the settlement wednesday. stephanie: dick parsons is joining us in a few minutes. he is a former chairman of citibank. we've got to talk about that with deck. --dick. we talked about shadow banking killing regular banks and they are not revenue generating and the fines are coming day af

down here we have citibank. but if they got on there? but google is our friend except google is collecting every bit of information every thought you have been auctioning it off every second of the day. so the 16 third-party site are up there right now. >> that is right. that site you will see it. if we just add a few more things, but in home depot put in what you might be interested in shopping for. you will find the entire screen in motion with this thing. this is sort of meant to terrify you. only in this land that when kids take driver's side, they are shown videos of car crashes. what happens when you don't do this? this is part of what our social education not to involve the level of tracking that is invisible to us until we turn on something like the lightspeed site. is that terrifying? >> i don't think it is terrifying. it is a reflection of how we are rid the early stages of a policy discussion and that is why we decided to write a book titled privacy in the modern age, the search for solutions. i should say a few words about th

but we own some citibank. >> netflix. >> citibank is the one who had this -- >> do i own citibank, iher day, and bought 100 shares. >> of netflix? >> yes. >> i can tell you honestly i own it. >> you broke down. >> i told you i missed the stock last time. i mean that's on the record. >> is that just -- say you don't think you're going to get a more attractive entry point from that company? >> the valuation relative to other alternatives, is something that we constantly look at within the context of over the top in terms of consumer appetite for content. we like quality content. we like quality distribution, this is a stock that -- mea culpa. i didn't buy it when it broke down to 80 or 82, when reed hastings raised prices last time, it is what it is. >> citi's note talked about it being under appreciated. you're getting yourself into a position. we talk about content all the time. we talk about all the content providers. but this is can a company that's not just on the content side, they have extreme growth in front of them. we've talked about europe for a long time. that remainance ar

this is not a chain store or a citibank branch which means that we need your patronage to thrive. so far the support of our customers has been remarkable. it is my great pleasure tonight to introduce andrew cockburn author of the just published coaching i am lucky to have andrew as i washington editor role that he performs brilliantly with pieces of a quality that you simply can't find anywhere else. andrew is a very rare combination of outrage journalist and studious crossman and never lets his anger get in the way of scrupulous accuracy and well-written storytelling. detail rendered in sentences that enlightened rather than way down the subject. the april issue of harper's magazine his piece about the history of corruption and loansharking a citibank. i rushed early copies here that i hope you will buy right after you brought coaching. they're going to let andrew explain his thesis that i resist reading a brief passage that i think captures the essence of the story. kill chain is an exposÉ of the remote-controlled drone and missile program that nowadays sucks up such an immense

now we are seeing larger banks with a partnership with citibank.: do you consider goldman sachs competition? guest: not at this point. we are good at different things. we have succeeded in the space and become the leader in marketplace lending. we grow 100% year-to-year. the results you saw yesterday are guidance. we have a low-cost operation. we are very consumer friendly. we have a deep expertise in consumer marketing. goldman sachs is not known for that. i think they are very complementary. it is with everyone's interest to drive down the cost for consumers. emily: you have been cutting rates. how long can you maintain that? guest: we don't feel we need to lower rates. we are very competitive. we offer to borrowers. many use our loans to pay off an existing credit card balance. the interest is 17%. the average lending club loan is 5%. it is a significant value. we take advantage of the network effect and an appetite from investors to have lower interest rates. i think we are at the right place right now. we have a good balance. borrowers are get

deutsche bank was ordered to pay a fine in the case but citibank says it's in talks with prosecutors over another investigation that focuses on rigging foreign currency markets. the bank says the settlement in that case could involve a guilty plea. mark: it's the first deal involving a big u.s. energy company since oil prices collapsed. noble energy has agreed to buy rosetta resources for $1 billion in stock and assume $1.8 billion in debt. it gives noble a position in two of the largest shale production areas in texas. david cameron begins his second term facing a big issue -- great britain's teacher with the rest of europe. >> i'm outside the home of the u.k. prime minister and he's inside trying to put the finish -- finishing touches to his cabinet after the conservative party won the surprise victory on thursday night. they are just trying to get their front edge in order and we've seen senior conservatives coming and going all morning as the new team is put in place. that's the first order of business. clearly on the agenda, the subject of europe is going to be a big one. theear

citibank says it's in talks with other groups and this one could involve a guilty plea. orderly profits beat analyst estimates and a imposed a pricing increase in january and february. its so-called skinny bundle that sells for $20 a month. china is the biggest market for smart phones in the world but the market is getting smaller. new information shows shipments of full-featured mobile phones dropped by 4% in the first quarter, the first time that has happened in six years. experts say the reason for the decline is simple -- there are no more first-time buyers in china. those are your top stories this morning. in the next half hour, laguardia airport as sony problems and needs to be closed. that's what some people are suggesting. we will talk to a private equity and property investor that says he knows how to save laguardia. china's central bank is trying to jumpstart the economy, cutting interest rates for the third time in six months. we will tell you how the markets reacted to that move. pollhe results of a new that asks new hampshire democrats for their opinion of h

they broke the windows out at the wells fargo here at citibank and summit bank. they continued through the auto mall at telegraph and 30th. they smashed the car windows at the chevrolet and the honda dealers. they even set one car on fire. there was at least one arrest and police made nine total arrests. one of the scarest moments happened at the kfc on telegraph avenue where vandals threw a steel divider in the window while the customers were in the restaurant eating. >> now this is affecting me because this is my job. i work here. i live right up the street. this is my community. it hurts my feelings that we have people walking around here this ignorant. >> oakland's first friday was also affected. as you can see crowds were enjoying the evening and they gave way to vandals who spray painted graffiti, broke windows and overturned dumpsters. 234* fact, it happened before the -- in fact it happened before the steel divider was tossed through the kfc window. it now appears the main group of protesters has broken off into splinter groups. police are casing them aro

emily: you said you hacked the pentagon, citibank, nasa. obtained secret documents on saddam hussein, tracked down osama bin laden's bank accounts. kim: back in the day after 9/11, that really affected me. i felt deeply unhappy about that. i was trying to do something, be part of the effort to stop people from ever doing that again. emily: you did all those things? kim: i did not do myself. there were other things i did. emily: some people would say there is no proof. kim: there is no proof. emily: when and why did you change your name to kim dotcom? kim: i bought the domain, kim.com. i thought it would be great if my name were kim dotcom so if anyone wants to know anything about me, i do not have to hand them a business card. they can just go to my website. it is all there. emily: take me back to the start of megaupload. kim: i was a street racer. i always made great videos, shared them in the street racing community, on the forums. the file sizes kept getting bigger, and you could not large files over e-mail. i wanted to solve that proble

you will noted that this is -- note that this is not a chain store or a citibank branch which means that we really need your patronage to thrive. and and so far the support of our customers has been remarkable, and we're grateful for it. it's my great pleasure tonight to introduce andrew coburn who is the author of the just-published "kill chain: the rise of the high-tech assassins." i like doing this for two reasons. first, as publisher of harper's, i'm lucky to have annandrew as our -- andrew as our washington editor with pieces of equality that you simply can't find anywhere else these days. andrew is a combination of outraged journalist and studious craftsman who never lets his anger get in the way of scrupulous accuracy and well-written storytelling what always strikes me about andrew's work is the great amount of detail rendered in sentences that enliven rather than weigh down their subject. this talent is very much in evidence in the april issue of harper's magazine in his piece about the history of corruption and, shall we say loan sharking at citibank. i'm so proud to be publish

they broke the windows out at the wells fargo here at citibank and summit bank.they continued through the auto mall at telegraph and 30th. they smashed the car windows at the chevrolet and the honda dealers. they even set one car on fire. there was at least one arrest and police made nine total arrests. one of the scarest moments happened at the kfc on telegraph avenue where vandals threw a steel divider in the window while the customers were in the restaurant eating. >> now this is affecting me because this is my job. i work here. i live right up the street. this is my community. it hurts my feelings that we have people walking around here this ignorant. >> oakland's first friday was also affected. as you can see crowds were enjoying the evening and they gave way to vandals wh spray painted graffiti, broke windows and overturned dumpsters. 234* fact, it happened before the -- in fact it happened before the steel divider was tossed through the kfc window. it now appears the main group of protesters has broken off into splinter groups. police are casing them aroun

they broke the windows out at the wells fargo here at citibank and summit bank. they continued through the auto mall at telegraph and 30th. they smashed the car windows at the chevrolet and the honda dealers. they even set one car on fire. there was at least one arrest and police made nine total arrests. one of the scarest moments happened at the kfc on telegraph avenue where vandals threw a steel divider in the window while the customers were in the restaurant eating. >> now this is affecting me because this is my job. i work here. i live right up the street. this is my community. it hurts my feelings that we have people walking around here this ignorant. >> oakland's first friday was also affected. as you can see crowds were enjoying the evening and they gave way to vandals who spray painted graffiti, broke windows and overturned dumpsters. 234* fact, it happened before the -- in fact it happened before the steel divider was tossed through the kfc window. it now appears the main group of protesters has broken off into splinter groups. police are casing them aro

those banks are jpmorgan chase, the royal bank of scotland and citibank. according to a etel isment, the banks will also plead guilty to criminally manipulating the global currency markets going back to 2007. the justice department said the banks conspired with one another to fix rates on u.s. dollars and euros. >> this department of justice intends to vigorously prosecute all of those who tilt the economic system in their favor, who subvert our marketplaces and enrich themselves at the expense of the american consumer. >> the attorney general says she cannot say whether the department is bringing any further charges at this time since the investigation is still ongoing. >>> one of the largest whole foods stores in northern california opened today in the bay area. it opened in dublin at 10:00. it's the first store in the trivalley area. it's huge. 40,000 square feet. inside, customers can hang out in a wine tasting room and tap bar. the store has one of the largest pizza ven chews, a noodle bar, barbecue bar. there is an outdoor patio with a fire pit where

demonstration the solidarity would baltimore has been destructive read nom you can see images to pitch of citibankhed glass that's to make 200 people are walking ease about on a street toward franklin this is the broadway area of the videos write their people marching through open so far no rest will keep you posted on the breaking news. >>gary: good evening everyone nba playoffs will talk more years to finish off brooklyn tonight in six games they move on to around two of the playoffs will air sunday 1230 they're starting to hit upon the bed with that in office it will be off eight days steph currie and his buddy pretty long layoff particularly for young team unless checked in on the giants' right now leading the angels won nothing right now in the sixth inning that a's came back yesterday to fall short he threw a little bit today and do back in two weeks going the opposite way and the '80s come back this course ever runs and eight and nine and they did see the texas rangers 75 you know what that means entirely may for the all- time left into regular schedule program i was involved in the 15 mont

i did a big study with citibank employees. and we looked at... so say for example if you compare latino employees in mexico, brazil, argentina, versus asian employees, taiwan, singapore, hong kong, et cetera, versus americans, and you look at in which condition are they most likely to perform well, americans perform best when they feel their manager is giving them choice, is empowering them to make decisions, giving them autonomy. that's very important to americans. latinos, i mean, it's not a bad thing, they're not getting mad or upset if their manager says, you know, "you can decide when you take your vacation, when you do your breaks, how you get your job done." what matters to them most is if they feel their manager cares about them. is this manager somebody they can trust, that they have good rapport with? that is more important than whether they get choice or no choice. and similarly, with asians, what you see is that for them it's not whether they get choice. if anything, they want direction. they want to feel that thei

government if citibank and jpmorgan actually plead guilty., they got guilty pleas from two international banks. audi's fortunes are increasingly on the rise. no market is more important to audi than china. things are looking good for audi. but looking great for volkswagen, it's parent company. zeb: you have been to china. you know the audi brand is very popular. audi popular with government officials, also with the elite. if you are picked up at the airport by one of the luxury hotels in beijing, you will likely drive into the city in an audi. they have many years of track record there. the brand enjoys great popularity, even with the slowdown in the chinese economy. audi to power ahead in the month of april, edging out bmw and mercedes as the world's biggest seller of luxury cars. 152,000 units sold and giving mercedes and bmw a run for its money in the china market and elsewhere good the the q5 accu seven model is doing extremely well. and they suvs and crossovers are doing very well in terms of sales. rishaad: china is critical to audi's s

the others like citibank, jpmorgan bank of america, so on, they worked out a deal and gave the government a few billion dollars. a japanese and a scottish bank thought they could beat the government. they lost this. on the other hand, where they have to pay is not much. i wanted to -- what they have to pay is not much. i wanted to read to you what the judge found in the exhaustive trial. it is no stretch to suggest that what she found about those two applies pretty close to the other 16 that got out of having a trial. i will quote you one line because it will save time and it gets the message across -- coding judged any -- the magnitude of falsity conservatively measured is enormous. well -- even for a polite judge that is pretty heavy. that is a nice way of saying you live right through your teeth and everybody knows a wonderful new song from mr. cohen "everybody knows." moving on, thousands of people die all the time trying to cross the mediterranean from africa and east into your. thousands of people, they take these extremely rickety boats often organized by gangsters who squeeze the

for example, citibank as well as guggenheim a couple of other financial and lists.aid over the month will raise their target to 100 $25 potentially even $127 and it is right now around 100 $11. and we may see that close at a record high. mark: ramy, what is up with those "frozen" toys? the gift that keeps on giving. why is that? ramy: it has to do that they had hit on something that resonates. the song itself still is in my head, and children still want it, and we are still seeing, if you will, and echo of elsa of what people are buying but it clearly was not as much as when it came out this time last year. marco: i guess i would be remiss, with all of the information you gave us, what is that telling us about the bob iger leadership at disney? ramy: people like what he is doing. with his leadership, there are a couple of things. ad revenue is getting a little bit soft. but not too bad. the phrase is cautiously optimistic, but with the movies, we are talking about the marvel franchise and the pixar acquisition. mark: he was also mentioning on the conference call abo

do you care if boone pickens says that oil is going to $100 or citibank says it will go to $20, that means nothing to you? me if ians a lot to have an oil position, but as to my day-to-day running of the book, we are designed not to worry about that. if i were to be concerned about some nights -- about the headlines, my response would be, i would write a model to read headlines and then interpret those in a systematic way. stephanie: how does that work? >> that is actually an active space of research, text or sing in big data analysis based on text. stephanie: so you could have parts looking for the words oil, boone pickens, bull. >> if we chose to cut three-putted loose that way, they would. stephanie: what is the biggest risk to your business right now? >> the biggest risk in some sense is what i have not thought of, right? throughlook at 2011 2013, correlation tended to be high and asset classes all moved together. that is an inherently unhealthy thing for us. were we to return to a post crisis environment like that, probably less help pull. broadly speaking, we run an extremely d

we estimated that and that we took a look at how long each bank, citibank was in the largest -- in the longest, and adjusted the methodology for the days each bank participated in unlawful conduct. pimm: what are culpability of specific individuals? occam no one ever seems to go to jail? -- how come no one ever seems to go to jail? bill: a substantial number of individuals have been charged. three have pleaded guilty. mine are awaiting trial -- nine are awaiting trial following indictment. continues.gation this one chapter in the story. olivia: two and a half years ago, the justice department declined to file criminal charges against hsbc for conduct that many would say is worse. they cited the potential trap -- potential threat of collateral damage. what changed? bill: we were confident that these banks could be held accountable and should be held accountable for criminal antitrust violation without having the financial system collapse. ,e have seen in the last year the justice department has brought criminal charges against financial institutions involving other sorts of crimes and w

citibank says it's in talks with prosecutors's over another investigation, one that focuses on rigging foreign currency markets. the banks as a settlement in that case could involve a guilty plea. there is a takeover in the shale oil business. noble energy has agreed to acquire rosetta resources at a price tag of $2.1 billion in stock. noble will assume $1.8 billion in debt. the deal will give noble a position in two of the largest areas of shale production in texas. a key aide to bernie made of has died after spending years spending the government prosecute those in the ponzi squali died ofdepa lung cancer. he was awaiting sentencing for his role in the scheme. a fendernt to see what bender of the future looks like, go to california. an investigation by the associated press says almost 10% of the driverless cars in the golden state have been in accidents in the past year. two accidents happened while the computers were driving and two while human drivers were in control. there is good news -- the computer-controlled accidents were both at speeds of less than 10 miles per hour. the car

citibank six. et cetera. these guys are guilty of manipulating, currency rates.inds of things. let's hope this type of behavior is put behind us. let's get to polaris industries. revving up the motorcycle world very quickly. twenty-two straight quarters of record earnings. it has revitalized the indian motorcycle brand. it's doing well with that. started manufacturing on electric victory bikes. that's a lot to talk about. let's get scott wine in on the conversation. polaris industry's ceo. you guys have about 50 different things in the oven and baking and cooking and pulling them out. they all smell good. what's going on with you? >> we have great brands. great leadership team. great opportunity to grow our industry. fun time to be at polaris. >> the entire crew had no interest in me. they were so interested with the toy that you guys brought. i started to look at it myself. i started to hang out on it. i put on my glasses. wipe the mirror down. that is the new dark horse. it's all black. i thought this was very cool. >> that's the latest launch of our indian pro

with small committee banks and now we are seeing larger banks with partnerships like we have with citibanke is announcement from goldman sachs for partnering. emily: do you consider them competition question mark renaud: not at this point. we are good at different things. what helped us succeed in this space and become the leader in the marketplace lending and grow 100% year-over-year and have the good results like yesterday are three things -- one is the low cost of operation, it too, a very consumer ridley and approachable brand and three is a deep expertise and customer marketing. those are not the three things that oldman sachs is known for. -- that goldman sachs is known for. i think other banks are complementary with lending club. it's in every once interest to partner and drive down the cost for consumers but emily: you guys have been cutting rates but how long can you maintain that? renaud: we don't feel we need to lower rates at all. we already have a very compelling offer to borrowers. many of our customers use our loans to pay off an existing credit card balance. most credit car

others, like bmw have been building programs at citibank to offer car rentals by the minute.nce again burger king is number two. the chain be wendy's last year to regain their place as the second-biggest fast food chain in the u.s.. they added more menu items and focused on value. the results was sales rose while sales at wendy's fell. to put it in perspective, mcdonald's u.s. sales are four times more than either burger king or wendy's. it is a great time for the great white way. broadway shows broke attendance and box office records in the year that ended sunday. their top 40 theaters drew more than 13 million people and sold one point third -- $1.3 billion in tickets. the top-selling musical was the lion king. in less than 15 minutes we will be taking you live to a justice department news conference in brooklyn where loretto lynch will discuss her look into corruption at fifa. 14 people have been indicted on charges of racketeering and money laundering. in the moment we will be talking to the founder and ceo of reputation.com as we try to bring him up from skype. let's jus

bailout were 100 to 1 and yet these banks were bailed out anyway because that's what the big ten citibank, wells fargo goldman sachs, wanted and got. and, yes the consent of the government -- government of, by and for the people means exactly that. a government is a superstructure that is designed to create a quality of life for its citizens. and i would argue in a democracy, watch out for the most vulnerable; children the elderly, the sick mentally ill who we've tossed out, surplus labor. as manufacturing has moved overseas, you go into poor communities of color and these people have no work no opportunity which is why, of course, we have the largest prison system in the industrialized world. 25% of the world's prison population. because black and brown bodies can't create money for corporations be they're out on the -- if they're out on the street and no jobs but they can generate 40 $50,000 a year if they're locked in a cage. that's why they're locked in cages. so i think on every single level the primacy of corporate profit and corporate power has trumped what is fundamental to our de

compare it to citibank. he goes, citibank is a small subsidiary. it's true. 400 million customers.espect china, but they are killing us because we have leaders that are incompetent. we have a president that either has bad wishes or is grossly incompetent and certainly cannot negotiate. the new trade deal by the way is a disaster. they don't talk about currency manipulation. that is the tool where all of these countries are beating us, and they don't talk about it. the other thing is they talk about large areas where you have nine countries and 11 countries. that is not the way to do it. you have to do individual countries because nobody treats as well, because they have no respect for us, but some treat as better than others. you understand that. when you do a vast number of countries, the bad ones get what is called favored nations. they get something very positive for them. the good ones are the good ones. but the bad ones take advantage. the trade package is a disaster. they have to talk about currency manipulation. now, i have created tens of thousands of jobs over my career. i

out if bernie sanders were to ever become president, that bank of america is under duress or city citibankaughter receipturess, that we wouldn't bail it out. >> absolutely. i couldn't agree with you more. what we should have done then and what we should do in the future if they have to get rescued, they should have to go through bankruptcy like gm did. that's the model under president obama. >> we paid for that bankruptcy to be filed. we rescued them and they filed for bankruptcy at the same time you know? >> well we paid for this too. we got most of it bank but we didn't get all of it bank. >> charlie, what do you think of that? >> we did get all of the money back from the bailouts of the barngs banks. they paid it back. the fed set the agenda by lowering interest rates. anybody who covered that i cover that day to day back then you wouldn't be -- if we didn't bail out the banks, you wouldn't be able to use your credit cards. >> you cannot prove it. >> yes, i can prove that. >> you can't prove it. >> when you can't go to the market when you can't borrow and i can prove this -- >> i know t