but deutsche boerse will own 60% of the shares. doesn't this mean that deutsche boerse shareholders will essentially control the nyse after the deal closes? >> sure. that's a really good question. this one has gotten a lot of press. it's important to note that deutsche boerse itself is 35% u.s. owned. and only 18% german owned. and so when you put the combined entities together, actually the combined company is 55% to 60% u.s. owned by the common shareholders. the distinction of merger vehicles is really a technical legal distinction and has to do with the fact the way the companies are being brought together with a balance management team, relatively balanced equity base. >> mr. katz, while there will still be an equity exchange operation in operating in the u.s. after the merger, they're controlled by four company parents. does it move from five to four operating companies and if so, what will the competitive -- what will be the competitive effect? >> congresswoman, one of the beauties of the u.s. options industry is that you can

the world's largest banks is being accused of being their slum lord it's a german banking giant deutsche bank and artie's among glinda shows us how it's just one part of a nationwide crisis. roach infested ations cracks in the walls mold growth mounds of trash these are just some of the deep horrible conditions that low income families in los angeles are dealing with. at night i have bugs crawling on my arms and on my face and the mice make noise at night and make me lose a lot of sleep and they keep painful you cross a garcia is angry over the slum conditions that she and other renters have to endure as a result of the ongoing foreclosure crisis empty houses have become a sanctuary for squatters and drug dealers foreclose apartment buildings have thought all into disrepair as the owners ignore their tenants needs many of those owners the world's biggest banks are coming in here in tears saying this is a nightmare with a cat's name. it's affecting their work from l.a. to milwaukee to cleveland cities across america are having a tough time getting banks to maintain foreclosed properties o

deutsche, who i guess will disavow any affilation with deutsche boerse is now recognized. >> thank you, mr. chairman. i was just thrilled to see that this hearing is about anything having to do with deutsche. mr. lebowitz, if i may, if you could walk through, please, just some of the, if you could address some of the questions that stem from your earlier comments. you acknowledge that the new york stock exchange has always stood as a global symbol for trade and commerce. i'd like to explore that a little bit, particularly how the new york stock exchange might be, how that view of the new york stock exchange may or may not be altered after a merger like this. first of all, if you could just walk through. i know you said there would be a building. where will all the headquarters be? >> the headquarters will be as it is now at 11 wall street as well as frankfurt. we're currently duly headquartered in frankfurt and paris and we will instead of headquartered in frankfurt and new york. >> could you flesh that out, how those dual headquarters will function? >> the ceo of our current company i

deutsche telekom is buying an additional 10% stake in a greek telephone operator. the telecommunications giant alady has a 30% share and has to buy the next state in your -- under a deal with the finance ministry. athehe wants to get rid of its tireolding in athens and# elsewhere, thousands of greeks continue to demonstrate against austerity measures. there is a 24 hour strike to protest the deal with deutsche telekom. >> they are trying to prevent the privatization of their company. the asset sell-off is intended to reduce greases massive debt. but employees contend it is nothing. >> you cannot sell an organization that has been built by greek citizens and is an asset of the greek people. ote is the property of the people. all of greece is being sold off. >> the prime minister is pressing ahead with his unprecedented privatization program. on friday, the government is expected to reveal a 6.4 billion euro package aimed at unlocking further international aid. a troika are currently assessing whether these measures go far enough. the report on friday will determine

there was advertised as from deutsche bank and deutsche telekom. >> we have invested 120 billion euros in european state bonds. 60% of our portfolio is invested in european companies. we have a strong presence in the eurozone. we are firm supporters of the euro and wanted to be strong. >> the return to stable financial conditions will cause many billions of euros but our common currency is worth the effort. this is an appeal for it either leaders to help countries like greece with billions of dollars. first, politicians want to see greece implement more austerity measures and they want private sector lenders to help to shoulder the burden. major corporations feel they clearly benefit from the euro but there is no suggestion in the text that these companies want to help pay the cost of a rescue. >> to be set taking their toll on german investor confidence. -- these are taking their toll on german investor confidence. this is at the lowest level since january of 2009. the index has been sliding in recent months in a deepening concern about the debt crisis. analysts surveyed fear that the

an excuse that does not sit well communities seen their american dream shattered especially after deutsche bank reported three billion dollars in profit just for the first three months of this year and now you've got these big banks are selling our securities to god knows where and nobody cares about the people at the other end ryan bell is a pastor and a community organizer he sees the collapse of the city's neighborhoods on a daily basis he believes the foreclosure crisis and the inability to keep x. accountable amounts to a betrayal of the average working american since the height of just one who had nothing european country with their nice homes with swimming pools and i'm getting bit by bit. under pressure from u.s. cities which a bank has begun to repair some of their properties but without much of the announcer of an efficiency but with so many homes still at risk of foreclosure it may be too little too slowly too late in los angeles and i'm wondering the r t. joining me now for more on this topic is timothy he is professor of international economic law at chapman university thanks

point five percent but most of these loans went to credit suisse forty five billion dollars and deutsche bank which is now being bailed out on the backs of the greeks but the fact is that these banks who are now occupying greece would not even be alive if it were not for the rearming in the region you know the read giving of of ammunition of weapons to these banks by the u.s. taxpayer who is backing the fed ultimately that's right the money comes from the u.s. taxpayer yeah that's right so if you start by the way fifty million unemployed they can't i see that in america they go to hospitals they don't know that the price of medicines are so high they're substituting like penicillin they're substituting with cheddar cheese you go for blood transfusion and they stick marshmallow fluff they don't have enough money to give you medicines to support this global scale that's why people around the world are rising rising up but the other point here is that ok we're being told that the whole financial system is going to collapse if we don't bail out the way to the bank forcing the greeks to hand

a deutsche bank ceo pledged to back the plan. >> if a house is on fire and surrounding homes are at risk, it is not productive to hold a debate on the structure of the house. the fire has to be put out first. >> financial times reports that the banks have sold almost a third of their greek bonds. despite german central bank figures that shows that german banks held 16 billion euros worth of greek bonds. critics accused german banks of breaking their promise. apparently, a business is business, especially when it comes to shedding millions of risky bonds. >> i asked him at if the risks are simply too high. >> i am not sure whether it is correct that there is a lot of selling activity by financial institutions. certainly it maturing bonds will not be automatically replaced by new bonds. the amount of bonds may be declining on balance sheets. i do not think there was a big selling spree because the prices for great bonds are very depressed. there is a huge risk premium in the present crisis. it is the decision of every investor saying i will stick to my exposure in greece because the policy

is also pushing ahead with privatization, selling off another 10% of greek telecom giants ote, to deutsche read telekom and jayantha -- to a georgia telecom giant. -- anddestche telecom giant. >> for builders of industrial machinery, just keeping pace with demand means working flat out these days. it is a similar picture throughout germany's export industry. despite the euro crisis and upheavals in the arab world, german exports are outstripping role -- global economic growth. in 2010, companies exported goods and services worth 952 billion eus. this year, the german federation says that figure will exceed $1 trillion -- will exceed one trillion euros. as a comparison, the world leading exportist, china, hit that mark one year ago. th are expected to hit almost 16% more this year. china is expected to stay at the top. >> investors arunseled by greec's problems and the general outlook. >> the probable resounding of greek debt to lower share prices will affect the floor, especially finances that have been hit not only here, but also all over europe. it was a weak start into the new week anyw

the ceo of deutsche bank and others expressed satisfaction. they have been negotiating the issue of involving commercial banks in rescuingn greece and giving athens more time to repay their debts. he indicated he was ready to help. >> i am assuming we will attrit ---- conibute to a solution. we are not doing it gladly, but we are acting to do what needs to be done to avoid a meltdown tomorrow. >> the german government is relieved at the news. though the greek crisis is far from over, the euro zone has won itself some much-needed time. >> investors have been betting on the greek government approval of the us. package. -- approval of the austerity package. the euro has been recovering after several weeks under pressure. the markets are hoping this will prevent the crisis from spreading to other indebted states in the euro zone. so who is profiting from all of this? koran as the markets go, it i is time to go to frankfurt for our correspondent report -- as far as the markets go. >> the best performers on the trading floor in frankfurt, and this h

federal dollars deutsch to medicare, medicaid, social security and defense. defense spending we've got to cut, we know we can cut it by hundreds of billions of dollars without any real significance. on the insurance side we have to raise premiums, cut taxes or stop providing as much stuff. we have to do that in each of them and the reason is not to be mean-spirited because i believe we can increase taxes on the wealthy. we shouldn't have extended the tax cuts. but the reason to do it is we have the dollars available to invest in the future which means education, infrastructure. those are the kind of things being squeezed out of our federal budget by an inability of our political system to limit the entitlement programs. understand all the cuts they talked at so far, i'm sure you've seen this. all the cuts they talked about so far come from to 12% of the federal budget that is non-defense discretionary spending. what does that term mean? it means nih, pell grants, the epa, sec, it means all the things we do care about and make ourselves competitive for the fut

we've seen some international mergers trying to get done, the deutsch, the london stock exchange trying to do a deal with toronto. what's the strategy of the tel aviv exchange nationally? >> we really like our independence. we believe that we should stay on its own, maybe have alliances with others, but don't merge with any of them. >> tom: you drove the abolition of the trading floors with the tel aviv exchange. it's all electronic. there's been a lot of concern about electronic trading here in the united states in the last year because of the flash crash worries back last spring. how do you address shareholders and address investors that computerized exchanges are safe? >> i agree with those things that maybe the stock exchange took it too far. in high-frequency trading, that's something that computers do and drives away the real investor, but i'm not sure anyone can know how to fight it. >> tom: our guest this evening is ester levanon, the c.e.o. of the tel aviv stock exchange. for more of my interview with the c.e.o. of the tel aviv stock exchange, head to our web site, nbronpbs.org

steel were upgraded to buy at deutsche bank. the analyst thinks steel pricing will strengthen. both stocks were up more than 5%. allegheny tech also benefited from the bullish sentiment, gaining more than 4%. homebuilders were hurt today. k.b. homes fell hard, down 15% as volume spiked to more than seven times the normal pace. really falling off the shelf. shares are at their lowest price since last august. and this was the fuel-- a much- worse-than-expected quarterly loss. it delivered fewer new homes and saw a drop in new orders. news corp sold its myspace business for a fraction of what it paid for it. remember back in 2005, newscorp bought the then-number-one social networking website myspace for $580 million. today it sold it for $35 million to an ad targeting firm. shares of newscorp added about 1%. bit of a relief rally. and that's tonight's "market focus." >> tom: on friday, automakers release june sales figures. it has been a month marked by high gas prices, higher vehicle prices and a shortage of some models. tonight's "street critique" guest isn't hitting the brakes.

now today deutsche bank c.e.o. said that if the greek problem spreads to other countries it could top lehman brothers in terms of contagion for the world financial system. tell us what you see as the best scenario that investors can expect and the worst. >> the best scenario is that we get a greek population that is willing to sacrifice for a number of years. official creditors willing to put in money and private creditors willing to roll over, the op rat difficult approach. low probability but if that happens it will quiet down greece. the worst probability is we get a situation where not only greece defaults but suddenly portugal are pushed to the edge and people will ask questions about italy and spain. i think right now we're looking at a situation where most likely greece will restructure. that most likely the other two countries are going to come under pressure but the crisis can be contained from going to spain and italy. and spain and italy are important because they're very large in relative degrees. >> su

approval of the hotly debated austerity plan has some tensions on the markets however said again at deutsche bank believes other events will have great. positive or to linger because i'm most impressed even knew told me my construct in the past few feet in the past several days but on the other investors cold put on the full problem sold well multi p.s. at least one the next several months the most important so after three quarts will be in the ample quantities and in the us on the thirtieth of june and the first on the content and the start of course for the reports and susan in the states for the second quarter we expect this will take me down all the good he called this fact this will fly in the time to hold the markets in the beginning like. that's his business is i have for you you can always find most stories just log on to our website r.t. dot com. in the.

on the russian market which relies heavily on energy exports however you are slipping somewhat at deutsche bank says the effects are likely to be short lived. i really think the effect of these measures will prices is likely to be transitory i don't think it's going to have a long term significant. i think the reason why you do have an emphatic reaction from the markets is the possibility of such measures being undertaken in the possibility of them being with pete it in the future but i think is what is accounting for such a significant reaction but if things are left that and there is no continue with. sort of effort on the part of the developed world to try and raise will supply then i think it's likely to be a significant factor in the determination of oil prices for this year and we continue to project world prices averaging one hundred seventeen point five dollars poorer per barrel. all right let's look at the current oil price in light sweet as trading at just above ninety dollars a barrel brant is falling one and a half dollars two hundred three and a half in asia energy stocks are

their service of all it's coming from deutsche bank the second of the current oil price and light sweet is trading at over ninety and a half dollars per barrel is dropping yet again another fifty five cents so is brant sixty seven cents down. in asia stocks are therefore under pressure and we could prove the financials are also down european debt worries world's top central banks have decided most important lenders are to carry an extra capital buffer heavyweight asia's p.c. is down more than one and a half percent in hong kong weighing on the handset. rochelle trading will begin in two hours' time the markets finished friday's session in the black both reality as my sex put on one and a half percent with banks and really. now looking ahead to the trading with peter weston from baton believes direction is hard to predict although sentiment will probably continue to be dominated by the summer and the crisis in europe this will probably be another greek week given that at the end of the week we're going to have the voting by the greek parliament on the austerity measures and even though t

measures banking stocks among the losers across europe shares a common bank slumped five percent while deutsche bank fell one point four percent upside telecom equipment for a market sell you soft rose three point four percent handset maker nokia at two point eight percent and here in russia stock exchanges closed in the red on monday on negative sentiment over greek debt by six and it came off a percent lower than the us has most of the signs now let's have a look at some individual shot news from isaac's four majors were among the main news following the downturn in crude cross here and in the red well look call from a slightly higher banking stocks are also under pressure would spread bankers in some. sort of business news for now but don't forget you can always find most stories on our website. culture is the same realm of experience the meaning of life is a real commitment to be your own and it's meeting with destiny the greek government survives a vote of confidence as its crushing debt ordeal continues unabated. to . the limits. it's just simply. just some is. coming. down minimum is wha

of the hotly debated austerity has sunk tensions on the markets however said again that also at deutsche bank believes other events will have great. replications foot of water main break is mostly price to be in the middle of the market strike in the past in the past several days but on the other hand investors hold poor under greek thought probable soul will not appear at least for the next several months the most important of the greek water will be at the end of one of the fees and in the us on the thirtieth of june and the fact that we can get the start of corporate reports and susan in the states for the second quarter we expect this will take a bigger role than cold and this practice will outline the trend of the market in the beginning of july. that's all the nation's business is i have for you you can always find most always just look on top websites. the be. the be to. the of the be. the best sleep. the be. the be. wealthy british style the book i'm writing the book that. hi guys.

measures banking stocks among the losers across europe shares of coma's bank slumped five percent while deutsche bank fell one point four percent upside telecom equipment. rose three point four percent. of maker nokia at two point eight percent and here in russia stock exchanges closed in the red on monday on negative sentiment over greek debt minus six and it came off a percent lower than the articles on their side and now let's have a look at some individual shanmugam isaacs oil majors were among the main news following the downturn in crude and in the red well look call it a slightly higher banking stocks are also under pressure would spread by increasing the size. of business news for now but don't forget you can always find most stories on our website www dot com. culture is that so much of the taxpayers' money i mean even exist in the real mysterious my dear old and it's meeting with destiny the greek government survives a vote of confidence as its crushing debt ordeal continues unabated. on. the limits to just simply. what i was just thinking about my future before the foreign companies c

the same omo window at point zero one percent loan to greece said that great right why just for deutsche bank and credit suisse and soc gen and b m p perry about why only those banks because as we've explained it these are the new jim crow laws it's a form of discrimination if you're greek you're it's the equivalent of being black in america before the civil rights movements you have to sit at the end back of the bus if you're greek in this environment you're treated like a second class citizen as jim crow laws financial jim crow laws using interest rates but i also think that this tarp will be known in the future as the smoot hawley tariff of this great depression you know many say that the some holy tariff which was a huge tariff that america placed on. imported goods. in order to deal with the great depression in fact it caused the deep spiral pulse the crisis to get worse and i think you'll see that all these bank bailouts has become a matter of principle that they no matter what have to bail out these banks and we see despite the evidence spite the deaths files the death spirals the

bottom line is that the euro's not going anywhere and as much as i'd like to see the return of the deutsche mark french frank and a lot we're going to be saying that i mean this is a political experiment that's simply too big to file and neither the c b nor the eurozone in general has prepared some of these fights but obviously there are fears in the south and what clues might they be looking for that this whole thing might on rattle. look i think all the clues out there if this was ever going to unravel the clues have already been set out on the table fairly clearly we've had eighteen months of contagion fears default risks. problems in spain greece italy portugal in the long haul and obviously so all the clues in the writing so to speak is on the wall fundamentally the situation has not changed in that there has been no concrete action or movement towards the spending of the euro or the eurozone so even if greece does get this next tranche of the bailout the problem is still there i mean ultimately how can the country recover from here. honestly it's hard for me to sign i personally i don

but sergey saw her off at deutsche bank says blue chip names are still the pick of the crop for future dates but as general mistrust for second investors don't invest one second to do three and we can do it there are reasons. that are not good but are many pray that you soon move sheeps as one will probably is the most free one who sheeple why the markets but there are some concerns the thought overcome the risk that they in the september the book will be sold in the month put on them to the market with some discount and the solution with. why is the interest from has been bumping dustball mother knew something of some impacts us all so one for me profit the something not on the steps but most move chips chip on multiples. and i think is a for general optimism not a wife's in the market people will buy most of the chips. that's all the business is fidel but stay with us for headlines with carry up next. twenty years ago in the largest country in the. disintegrating.

banking stocks among the losers across europe shares of commerce bank slumped five percent while deutsche bank fell one point four percent upside telecom equipment. rose three point four percent handset maker nokia at two point eight percent and here in russia stock exchanges closed in the red on monday on negative sentiment over greek debt minus six and it and the cent lower than the us has lost.

banking stocks among the losers across europe shares the promise bank's long five percent while deutsche bank fell one point four percent on the upside from a call in question for arkansas who suffer growth three point four percent. maker nokia at two point eight percent and here in russia stock exchanges closed in the red on monday on negative sentiment over greek debt minus six and it in half a percent lower than the us has lost her son now let's have a look at some individual shot news from isaac's four majors were among the main loose following the downturn in crude crossing and ended in the red well look all in a slightly higher banking stocks are also under pressure would spare bankers and for some. business news for now but don't forget you can always find most stories on our website.

they would have gone to the british banks and to the other banks, hong kong, shanghai bank, deutsche bank and everybody else waiting to steal their people. >> unless the global banking community -- >> took an oath and said -- >> and this governments all around the world when they orchestrated the bailouts said, we'll bail you out and you will all sign up to no bonuses for the next five years. why couldn't they have done that? >> why didn't the government do that? >> should they have done? >> i don't like the government doing it. i'm not going to get trapped into that one. >> interesting that you hesitate. you have always been a big supporter previously, i will grant you that, of allowing people to be paid what they should get in the marketplace. that include it is bonuses. but this is different. this is where these companies have been bailed out by the taxpayer. it's a different scenario. >> i'm giving you that point. i'm giving you the point that they should have been more cautious, but they had a competitive playing field again. and you have seen it. >> they only had a playing fiel

that's joe ackerman of deutsche bank.e german and french banks are on the hook for $100 billion in greece alone. that's why we've seen the difficult negotiating which is have come to the brink now. the cabinet reshuffle probably won't do a whole lot on its own. the unity government was a good idea but they didn't get the result they were, looking for. nina. >> john defterios, thank you for that. >>> this global situation weep be talking about something else in the world, the inflation rate in india, just keeps on ridesing. after the break, we'll be talking about hout central bank is spongd responds by raising i rates again. the cream disappears but your wrinkles don't. ♪ introducing neutrogena® rapid wrinkle repair. it has the fastest retinol formula available. in fact, it's clinically proven to smooth wrinkles in just one week. so all you have to do is sit back and watch your wrinkles go away. new rapid wrinkle repair. from neutrogena®. >>> india's ranking among biggest economies is number ten. that's almost what its inc

before long, that's what the deutsch bank chief was talking about. it's the contagion effect, the fear that one goes, then the next one. that's why they are so desperate to basically stop the rot here. but you can only stop the rot if the people here are prepared to mix my metaphors, to take their medicine. what's happening tonight, you can hear the demonstrations, they are loud, they are noisy, they are angry, they have been violent, and the politicians are starting to say maybe enough's enough. >> in athens, the one and only richard quest. thank you, as always. >>> just about 25 minutes past the hour. time to check in on top stories that we're following. officials say flood waters lapping at nebraska's two nuclear plants are more of an annoyance than a safety concern. even if water gets into the plants, operators say it will not set off a disaster like the one at japan's fukushima nuclear plant. >> i'm 100% confident we're not going to have an issue here. if river level continues to rise, we'll follow our procedures, we'll shut down the plant, we'l

line against them and pushing the pakistani government part on the hockley network and the telegram deutsch we'd lose a degree of leverage on the other affiliated groups that are out there causing significant trouble? >> i think it's an important group and complicated one and one of its sort of aspects has been a little bit itself to hold onto its position as a word of the pakistani state and not jeopardize the assets it controls inside of pakistan schools, hospitals, bank accounts, networks and volunteers it's a complicated hezbollah organization where there is a good degree of religious and social work blended in with violent means and young men who want to participate in international jihad. so there has been a pattern in which the younger volunteers have been kind of setting their identity cards of the home office and then going out to the frontier to participate in the al qaeda affiliated and express itself in the international ambition where it's even more dangerous and complicated is where it seems to serve as a proxy or partial proxy of the elements they want to weaken india by carr

additionally, the 2,005 medicare and medicaid program spent an average of $20,000 per deutsch eligiblealmost five times greater than the average amount spent on other medicare beneficiaries. these individuals who have fewer resources and more complicated health care needs face the added struggle of trying to neck deep connecticut medicare and medicaid. medicare covers the basic acute care services and prescription drugs and medicaid fills in the gaps. redican generally pays the medicare part b premium and the cost sharing for medicare services. for some, medicaid also covers various benefits not covered by medicare including long-term care support and services, dental care, eyeglasses and other benefits. each state determines its own eligibility standards and which benefits will be provided to medicare beneficiaries. so we are able to watch various states experiment with different models and designs to better align the care of the will eligibles. currently 15 states have been selected to receive funding and data and technical assistance from cms to develop a more coordinated middelkerk

deutsche says the domino effect could eclipse that of lehman brothers here in the u.s.>> reporter: i think you've got to look at what ackerman was saying. he wasn't saying that greece in itself is so big or important that it would cause the effect. what he is suggesting if greece goes then the question becomes who is next? who else is weak? where is the counterpart you risk throughout the financial system? yes, we had a year to work out who has the greek debt. we know it's french banks. we know it's german banks. they issued paper in the u.s. market. so we've got a pretty good idea the depth and integrity of the greek debt. what we don't know are the derivatives, credit default swaps, what happens if portugal goes or ireland or spain. when lehman went, it was the shock and surprise that caused the damage. people were looking over their shoulder saying who is next and who is good on their debts? >> on the campaign trail here in the u.s., you hear candidates say greece is in trouble because of its debt. we could soon follow greece's footsteps. what lessons, if any, does t

joining us is donny deutsch and robbi ludwig. good to have you here. when you watch the press conference, is it too little too late? >> my first reaction is we have to stop being shocked and amazed when men of power who are conquerers by nature also chase women. jfk, martin luther king, this almost goes with the profile. >> why is that? >> it's the persona -- >> ego? >> it almost matches. we as a society have to become anesthetized to this. you have to say, i'm sorry. >> which he did. was he tearful enough? does that do anything? >> he needs to have contrition. people thought spitzer never showed enough. we have to understand how the technology is going to be a great undoing, particularly people our age who don't think through what can happen. let's stop being shocked. >> we are a puritan call country. so we are a little bit sexually repressed. on one hand we like stories about sex, but we want things from our leaders that maybe isn't realistic. >> do you think he can survive this politically? whether or not what happens with his relationship, his marr