morgan wells fargo bank of america and citibank just those 4 banks own 81 percent of it so those are the guys getting bailed out by the fed in the mean. time u.s. housing j.p. morgan chase to raise mortgage borrowing standards its economic outlook darkens it just got harder to buy a house from tuesday this week customers applying for a new mortgage will need a credit score of at least $700.00 and we acquire to make a down payment equal to 20 percent of the home's value but this is an interesting concept one of fairness as it relates to the economy and it's not really baked into the american system is not designed to be fair because fair is what is fair for one person is unfair to another person and that's a highly subjective term what america relies on is free market capitalism relies on competition and that if you are successful competing then you succeed remember in america possession is 9 tenths of the law now if you don't compete successfully then you get thrown out of the game basically but that's the way it is in the united states and. having said that when you talk about banks

so he's talking about these trillions of dollars are going to be handed to the same banks they got that in 2008 j.p. morgans of the world citibank bank of america all that stuff but the problem is especially in the situation it's not those big banks that are having a liquidity crisis as it was back then or credit crisis or credit crunch it's these small and medium sized enterprises that operate all the goods and services and deliver all those goods and services that they're the ones that are in trouble at the moment you know the last mile distribution in terms of money the former.

morgan wells fargo citibank bank of america have their bad debts spelled out the same ordinary 340000000 americans go oh cool so thankful for my government and the central bank bailing out of our bad bets here's my bad. sorry we don't have enough money for that so that they feel like the ordinary person feels like this is unfair or somehow that jamie diamond's you know bad bets get bailed out over and over every single time it crashes my belt bad bets never do yes and that's why on this show as a report we have put forward the notion that you will never achieve fairness in the economy that's based on money if it's controlled by banks stores and central bankers who can print 10001 for you and it doesn't and they are free to break any law they want the only riposte. is bitcoin and gold particularly big coin bitcoin disenfranchises and d capitalizes i'm not for decapitating anybody but i am for be capitalizing all the wall street bankers by shifting the center of gravity of money from the dollar and fear to bitcoin and that's perfectly within our purview within our scope as a global citizen

so he's talking about these trillions of dollars are going to be handed to the same banks they got that in 2008 j.p. morgans of the world citibank bank of america all that stuff but the problem is especially in the situation it's not those big banks that are having a liquidity crisis as it was back then or credit crisis or credit crunch it's these small and medium sized enterprises that operate all the goods and services and deliver all those goods and services that they're the ones that are in trouble at the moment you know the last mile distribution in terms of money the former bank of international settlements. guy is talking about is explicit lee picked a graphically portrayed and a money velocity chart that we spend showing for a few years money velocities come to a dead halt it's just gone down every single year because the money doesn't get to where it's going on purpose that's by design because if it did then people would use it in ways that would increase the money velocity and wages would start going up and then the wall street ponzi scheme would come crashing down would have come crashing down earlier because that's inflation and inf

one week and i think stephanie was talk about the financials but look at the movie from citibank, bank of america, jpmorgan. the moves in just a week they have made. they are still well off the highs. we know that we're seeing other areas actually take a bit of the baton. i do think there are different yars areas of the market flas have leadership retail continues to be an outmao and lowes. if you look around a little bit there are other areas of the marketplace that are performing very nicely and have shown some great performance. yesterday the move at lululemon. all we're seeing almost exclusively is really short term paper. when i say that, we're seeing option trades that go out to friday's expiration may 1st or may 8th. it's really short term stock pickers market, traders market that all fits in tcf financial today, goes out there and their earnings were very impressive. there are areas in the marketplace. >> maybe we'll bring erin into the conversation now it was just yesterday on this program when scott wapner asked jeffrey gundloch about what could happen in the market going forward given

the fed only has the ability to feed to the bankers to feed to take market wells fargo citibank and bank of america only feed to them so all of their artwork like our wonderful piece here for sale for whatever you want to pay but they could distribute easily to them but it's the fact that nothing goes down into the bottom and therefore those products don't get made nothing gets me even the food products for the poor right or the money goes to the top it doesn't go to the bottom and so the efficiencies at the bottom collapse so all the industrialization collapses and then you have the prices skyrocket because it's all parties and all your blood being artie's all bread is artesian all at some point because all the bread factories are shut we're going to take a break more supply of kinds of report after the break don't go away. we're going to be good on the growth rate if there's going to be one can be expected through the pandemic is going to. come host the beginning changed accounting. is the only chance of returning to pretend india. told them that is to be some cycle. the link he says sometimes yo

the fed only has the ability to feed to the bankers to feed to take market wells fargo citibank and bank of america only feet to them so all of their artwork like our wonderful piece here for sale for whatever you want to pay but they could distribute easily to them but it's the fact that nothing goes down into the bottom and therefore those products don't get made nothing gets me even the food products for the poor are right all the money goes to the top it doesn't go to the bottom and so the efficiencies at the bottom collapse so all the industrialization collapses and then you have the prices skyrocket because it's all parties and all your blood being artie's all bread is artesian all at some point because all the bread factories are shut we're going to take a break more supply of cars are report after the break don't go away i. don't. think the. i think in the city jordan police. today defended a rule fair walk next you don't. give us an emotional safety feature and you move on to the sort of the. welcome back to the kaiser report i'm max keyser time now to turn to steven mclaren he's a former

the fed only has the ability to feed to the bankers to feed to take market wells fargo citibank and bank of america only feed to them so all of their artwork like our wonderful piece here for sale for whatever you want to pay but they could distribute easily to them but it's the fact that nothing goes down into the bottom and therefore those products don't get made nothing gets made even the food products for the poorest of the money goes to the top it doesn't go to the bottom and so the efficiencies at the bottom collapse so all the industrialization collapses and then you have the prices skyrocket because it's all parties and all your blood being artie's all bread is artesian all at some point because all the bread factories are shut but we're going to take a break more supply of cars the report after the break don't. you. think you know because you know. we do need to create with them. freaking out when it's pretty much anywhere near. breeding dogs or. conditions on i mean 67 years you know they've been locked up in a cage outside you see no protection from the weather the heat you know the cour

morgan wells fargo bank of america and citibank just those 4 banks own 81 percent of it so those are the guys getting bailed out by the fed in the meantime u.s. housing j.p. morgan chase to raise mortgage borrowing standards economic outlook darkens it just got harder to buy a house.

morgan wells fargo bank of america and citibank just those 4 banks own 81 percent of it so those are the guys getting bailed out by the fed in the mean. time u.s. housing j.p. morgan chase to raise mortgage borrowing standards economic outlook darkens it just got harder to buy a house from tuesday this week customers applying for a new mortgage will need a credit score of at least $700.00 and we acquire to make a down payment equal to 20 percent of the home's value but this is an interesting concept one of fairness as it relates to the economy and it's not really a big day into the american system is not designed to be fair because fair is what is fair for one person is unfair to another person and that's a highly subjective term what america relies on is free market capitalism relies on.

there doing records of dollars, they're dealing with many community banks, bank of america, citibankls fargo is very much in route. they're dealing with the bankers, it cannot go that quickly but i am hearing it is a very successful roll—out. the deed not want changes and applications, they want changes in loan requirements, but they are taking billions and billions of loans and in the very near future, the bigsby pan got —— the banks will be paying out the money? considering that the auto industry is hurting these days, are you ready to postpone... you ready to we industry is hurting these days, are you ready to we have a deal and obviously the delisting from the standpoint of it is a deal that is assigned to deal and one of the worst deals that we have ever had was nafta, where the worst trade deals ever made by any country everywhere, will be terminating that and the new deal is a great deal for country. again, we get hit by the virus and we will see where that all those, but soon the car production is going to be down for a little while but ultimately, good for farmers, great for

banks? >> i don't think there is a fault. they're doing record numbers of dollars. they're dealing with community banks, bank of america, citibanko as you know is very much involved and they're dealing with the bankers. can't go that quickly but i'm hearing it is very, very successful rollout. they did want changes in applications. they want changes in loan requirements et cetera, but, they are taking billions and billions of dollars worth of loans and in the very near future the banks will be relieving the money, paying out money. please. reporter: thank you very much, sir, are you still expecting the usmca to take effect on july 1st? and considering fact that the auto industry is hurting these days are you ready to -- new rules? >> the deal is with canada, the deal with mexico, we have a deal. obviously the deal is different from the standpoint that production will be lower but we have a deal. it is a signed deal. it is a deal that is one of the worst deals that we ever had was nafta, one of the worst trade deals ever made by any country anywhere. we'll be terminating that, the new deal is a great deal for our country. that is

tremendous success with this plan, bank of america, jpmorgan chase, the big banks, wells fargo and citibank today, hundreds of thousands of applications are being processed and many community banks, hundreds and hundreds of community banks all over the country are doing this where the loan goes out, it goes out to the small business, but under one condition, they have to pay their people. they have to be able to keep their people on the payroll otherwise it's a real tough loan, but they have to do that. it's been incredible how so far -- i hate to say flawlessly in three days but it's way ahead of schedule and in fact will probably increase that because the money is going to be spent much sooner than we thought and that's a good thing, not a bad thing. the banks have been incredible. the small business administration. >> sean: on the reopening of the country, are you looking more at something geographically oriented? are you looking at for the very specific challenges of the high concentration of people in a small geographic area, how do we open them and open them safely again so rebounds d

morgan wells fargo bank of america and citibank just.

working out well, the banks are getting started with the distribution, taking thousands and thousands of applications. the swamp with bank of america and wells fargo and i guess citibank has just now kicking in, and also no one's talking the commercial banks, the community banks. everyone's talking commercial banks, the community banks are doing tremendous volumes and they are probably doing them faster from what i understand. the community banks are the easiest ones in terms of getting the money out. so the money is getting out, the applications are far beyond what we ever anticipated and it goes essentially to the workers. we want the business is to hold onto their workers because once they lose the workers, they're never opening again. it's not going to happen. >> i'm wondering if you could expand a little bit on the form that mexico would take to the reimbursement, what form with that take, we essentially had that and i have a second question. >> president trump: there was no real cost because we are agreeing to produce a little bit less. you have it for another day, it's actually cheaper than storing it where you take it out and you deliver it to a massive wealth

banks are getting started with the distribution. they've taken thousands and thousands of applications. the numbers aren't even believable, the number of applications. they're swamped, with bank of america and wells fargo and citibank is now kicking in. what nobody is talking about, the commercial banks, the community banks. everyone is talking commercial banks. the community banks are doing tremendous volumes. and they're probably doing them faster from what i understand. i hear the community banks frankly with the easiest ones in terms of getting the money out. so the money is getting out. the applications are far beyond what we ever anticipated and that is why we're going -- because this is money that goes essentially to the workers. we want the businesses to hold on to their workers because once they lose the workers they will never open again. it is not going to happen. >> -- from the "wall street journal." i wonder if you could expand on the form mexico would take, the reimbursement, what form would that take, to essentially add it to the tab for the wall that you've mentioned and i have a second question -- >> well there is no real cost because we're agreeing to produce a little bit less. so it is staying in

they're swamped by bank of america and wells fargo and i guess citibank is now kicking in. the commercial banks the community banks, everybody's talking commercial banks the community banks are doing tremendous volume and they're probably doing them faster. i hear the community banks are the easiest ones in terms of getting the money out. so the money is getting out, the applications are far beyond what we ever anticipated. this is money that goes essentially to the workers. we want the businesses to hold on to their workers because once they lose their workers, they're never opening again. >> i wonder if you could expand on your form that mexico would take reimbursements, what form would that take? add it to the tab of the wall. >> there's no real cost because we're agreeing to produce less, it's actually cheaper than storing it where you take it out and deliver it to a massive well like the strategic reserves. where it has to be brought there and you know, that's an expensive process but oil is getting to a point where, i mean, some areas the water is more valuable than t

wells fargo both reporting this morning on the first quarter with morgan stanley, bank of america, goldman sachs and citibank heavy hitters due out later on in the week. joining me right now cfra director of equity director ken leon, thanks very much for joining us. >> great seeing you, maria. maria: yeah, i want to point out something that i mentioned yesterday and that is as we approach flood of earnings reports, earnings per share would be meaningless. the most important thing to watch this earning season is the balance sheet and not the income statement, not only what is your debt to equity ratio and breast expense, interest coverage expense coverage ratio convenance that you're bumping up against. we know that the first quarter will not look good given the shutdown beginning in march. >> probably most important earnings call in a long time. we are looking at two things, one the soundness of banks which is very strong since the financial crisis, but the real focus here is on credit risk. credit risk touches the consumer and commercial and, maria, we are really focused on real estate because we think that

banks are getting started with the distribution. they have taken thousands and thousands of applications. the numbers aren't even believable, the number of applications. bank of america, wells fargo, and against citibank is just now kicking in, and also nobody is talking about is the commercial banks. the community banks. everyone is talking commercial banks. the community banks are doing tremendous volumes, and there probably doing them faster from what i understand. i heard the community banks are the easiest in terms of getting the money out. the money is getting out. the applications are far beyond what we anticipated. goings why -- this is essentially to the workers. among the businesses to hold onto their workers because once they lose their workers, they are never opening again. in the back. reporter: could you expand a reimbursementthe from mexico? mentioned?ou pres. trump: there was no real cost because we are agreed to produce a little less. it is actually cheaper than storing it where you take it out and you deliver it to a massive well, like the strategic reserves. where it has to be brought there. that is an expensive process and itself. but oil is getting to a point where -- there are ar