deutsche bank reported the biggest gain in fixed income inding animal state years -- almost eight years biggest wall street banks doubled their fixed income revenue. the ceo says it's fully on track to beat all target. second quarter net interest income came in slightly soft. second-quarter pretax profit was a clear beat. santander, unexpected second-quarter loss and a 12 point -- 12.6 billion euro impairment. we will talk earnings, next. this is bloomberg. ♪ nejra: good morning from london. i "bloomberg daybreak: europe,". in its latest effort. today'srade mixed at of rate decision. u.s. stimulus talks stalled over liability protections for businesses as current measures start to run dry, plus credit suisse plans to merge its investment bank and trading unit in a sweeping overhaul. we speak with top executives from deutsche bank, santander, and barclays. welcome to "bloomberg daybreak: europe." let's get some more news during earnings season. we are hearing from sanofi, raising its 2020 guidance. it now sees a 6% to 7% eps growth. second quarter business eps comes in at 1.28 euros. the

francine: that is the deutsche bank chief executive mr. speaking to our daniel schaefer, talking about the momentum they've seen in april and may following the good momentum in the first quarter. mr. sewing, saying it continues. the investment bank he says is on track. plenty more from the webinar, plenty more from deutsche bank. coming up, we talk m&a. this is bloomberg. ♪ francine: this is "bloomberg surveillance." the deutsche bank chief executive, christian sewing, is speaking with daniel schaefer, our bloomberg bureau chief. into --come continuing fixed income momentum continuing into june. ifsays they are assessing the wired card bank is an opportunity. i don't 100% know if he sees a payment system and sees that as something more that they want to get into. that we have seen over the last seven to eight weeks. let's get to first word news in london with leigh-ann gerrans. leigh-ann: the european economy will be hit harder than previously thought and will take longer to recover. it is the starkest warning yet from e.u. officials about

state department of financial services superintendent linda lacewell saying in a statement quote deutsche bank failed to adequately monitor the activity of customers that the bank itself deemed to be high risk in the case of geoffrey epstein in particular despite knowing mr epstein's terrible criminal history the bank inexcusably fail to detect or prevent millions of dollars of suspicious transactions lacewell said the bank processed hundreds of transactions totaling millions of dollars at the very least should have prompted additional scrutiny in light of epstein's history including payments to individuals publicly alleged to have been abstains coconspirators in sexually abusing young women settlement payments of more than $7000000.00 and legal expenses of epstein and his coconspirators of more than $6000000.00 payments to russian models hotel and rent

surnames along with all that suspicious cash withdrawals of more than $800000.00 over 4 years deutsche bank had a financial relationship with epstein from 2013 to 2018 and according to this consent order to assure bank was aware of suspicious cash activity throughout the relationship and the bank continued to maintain the relationship for years despite additional red flags the bank cut ties with that scene in 2018 after the miami herald published its investigative series about epstein sordid history and questionable prosecution under the contentious 2008 plea deal the statement doesn't name any of evidence coconspirators f.b.i. agents and n.y.p.d. detectives arrested gilling maxwell in new hampshire july 2nd on charges of sex trafficking minors and perjury she's long been accused of helping to recruit and abuse. the young women and girls epstein allegedly abused for many years some of them as young as 14 years of age maxwell is currently locked up at the metropolitan detention center in brooklyn on 24 hour suicide watch one of the big questions what incriminating evidence to she potentially

i sat down with the ceo of deutsche bank christian sewing and asked him if he regretted the bank's relationship with mr. epstein. >> it was a critical mistake there is no question the mr. epstein should have never been onboard should have never been our client i just made it very clear again today in a letter to all of the 86,000 plo 86 th 86,000 employees of deutsche bank this should not happen again. we invested a lot over the last years into our compliance functions. but we shouldn't have done the mistake in 2013. there is no doubt. >> superintendent lacewell said in her announcement today banks are the first line of defense with respect to preventing the facilitation of crime through the financial system went on to say in the case of jeffrey epstein in particular, despite knowing mr. epstein's terrible criminalry history, the bank failed to suspect millions of dollars in suspicious transactions i wonder if any executives at deutsche bank have some responsibility for his crimes? >> well, as i said before. it was a mistake to onboard him in 2013, to are sure at that point in time. escalation

sonali: deutsche bank is a big bag but goldman has been making a lot of moves. u.s. have been winning because of the debt underwriting issuance. less so the european banks. barclays also, if you look at the m&a tables, top five. they have room to gain some shares if they put money to work and if we can work cross-border. guy: one of the things that has defined the transatlantic risk has been the inability of european banks to gain any traction. is there any evidence coming out of these reports that suggest if we were to see the european economy becoming a little bit more stable than the u.s. economy, and alix talked about it being a relative trait, we can start to see this unwind. when you talk to those within the business who invest in these businesses, do they see any hint of a longer-term shift away from the u.s. back into european banking? sonali: i would not get that excited, but what i would say is the eu you have to look at different spots. when it comes to deutsche bank they said germany might suffer less than the surrounding economy given the fiscal support.

welcome back new york regulators have deutsche bank in their crosshairs due to the bank's relationship with jeffrey epstein r.t. correspondent john hardy is following the story. deutsche bank agreeing to pay the state of new york a $150000000.00 fine for sketchy financial transactions related to jeffrey epstein new york state department of financial services superintendent linda lacewell saying in a statement quote deutsche bank failed to adequately monitor the activity of customers that the bank itself deemed to be high risk in the case of geoffrey epstein in particular despite knowing mr epstein's terrible criminal history the bank inexcusably failed to detect or prevent millions of dollars of suspicious transactions lacewell said the bank processed hundreds of transactions totaling millions of dollars at the very least should have prompted additional screwed. me in light of epstein's history including payments to individuals publicly alleged to have been abstains coconspirators in sexually abusing young women settlement payments of more than $7000000.00 and legal expenses of epstein

also, the big question whether in this environment he will be able to make deutsche bank profitable againhas been his goal for this year. after five years of consecutive losses that the bank has made. we will also talk about the second quarter. providing a been renewed fixed income trading boom this year. the question is how long will their luck last and what will this mean for the bank's target and revenue? the last point is we will talk helping the -- matt: i have to say, i was truly blown away by the stories your team has been writing about wirecard over the weekend. a piece showing the investment bank was distancing itself from managersas dws fund were loading up on shares. i thought it was incredibly well reported. one of the things that has been talked about, there is a possibility at one point that wirecard i think was considering buying deutsche bank. now it looks like deutsche bank may buy pieces of the destroyed company wirecard. talk to me about the relationship between those two. ties that gohave back quite a few years. -- deutsche bank has given margin loansrecard for his sha

deutsche bank has said that -- wire caps.an you just explain what kind of help they are thinking about? christian: i know you will be disappointed, but i'm not able to give a lot of details. last year we formed the the heartbank that is of deutsche bank. it is why we were founded 100 and 50 years ago to facilitate corporate around the world class -- of the world. is a potential opportunity to look into technology, to look into payment schemes, we are of course assessing that. that is exactly what we currently do. when there is something more to transparency where the first tasks will be done. players inof the key transaction banking services and were handed the obligation to , whether the situation there is opportunity or whether we can stabilize. >> would you think about buying parts of that business? judge,n, too early to but i think we made it clear last year when we set that potential other transaction in germany. the key for deutsche bank must to our shareholders and if this is the case we are happy to look into somethin

deutsche bank has said it is willing to help them bank. -- help wire card bank. you thinking about? >> i know you will be disappointed, but i am not prepared to give a lot of details. one thing is clear, last year, we formed the corporate bank. that is the heart of deutsche bank that is why deutsche bank was founded 150 years ago, to support and facilitate corporations around the world. for that, you need the basic product to be cash management and payments. there is the potential opportunity to look into technology, to look into payment schemes. of course, we are assessing that, and that is exactly what we currently do, whether there is something more to that, it is too early. we now own the transparency, and that is the first thing to be done. players inof the key the payment and transaction banking services, and we almost have an obligation to look into the situation and think whether there is an opportunity or whether we can save a lot. >> there might be a situation where if it turns out to be valuable enough and interesting enough, you would think about buyi

that leads to deutsche bank.lly been in the spotlight when it comes to jeffrey epstein. anna: talk us through that link, then. there is another thread we need to pick up on when it comes to deutsche bank, and that is ties to jeffrey epstein. what is the latest on that? annmarie: deutsche bank has been in the spotlight for a while, but now they are going to be paying up. the new york banking regulator, they need to pay them $150 for financial dealings with epstein. the reagan later said, despite knowing epstein's criminal history, the bank failed to protect millions of dollars in suspicious transactions. the regulator really lays out how the bank sought epstein out as a customer after his conviction for soliciting underage girls in florida and then helped pay out millions of dollars in legal settlement and withdrew 800,000 dollars for what was known to be cash for travel and tipping expenses. but deutsche bank has said they have acknowledged their error and the weakness in their process, and they said they have le

. >> deutsche bank says the second quarter results will be better than expected ahead of results next week. also signaled that they had a stronger quarter >> what more can you tell us about what deutsche bank has flagged that prompted this early release? >> they are saying that this is because clients are repacing the so-called corona loans deutsche bank was flashing out loans to clients with guarantees back to the state-owned bank during the corona crisis lockdown here in germany because companies wanted to have more liquidity on their balance sheet. now we see with them paying back those loans quicker than expected allows them to have a higher capital, more than 3% than what analysts had expected. that is the good news because they had used free capital now for other stuff like investing in other areas for the business such as it there are many possibilities to invest currently deutsche bank is kind of trying to move very fast into digitalization into its business teaming up with google and the like that's one thing which we heard from yesterday the focus next week, when we get the

surnames along with all that suspicious cash withdrawals of more than $800000.00 over 4 years deutsche bank had a financial relationship with epstein from 2013 to 2018 and according to this consent order to assure bank was aware of suspicious cash activity throughout the relationship and the bank continued to maintain the relationship for years despite additional red flags the bank cut ties with that scene in 2018 after the miami herald published its investigative series about epstein sordid history and questionable prosecution under the contentious 2008 plea deal the statement doesn't name any event scenes coconspirators f.b.i. agents and n.y.p.d. detectives arrested gilling maxwell in new hampshire july 2nd on charges of sex trafficking minors and perjury she's long been accused of helping to recruit and abuse the young women and girls epstein allegedly abused for many years some of them as young as 14 years of age maxwell is currently locked up at the metropolitan detention center in brooklyn on 24 hour suicide watch one of the big questions what incriminating evidence to she puts. we ha

thanks frank deutsche bank investors are suing the company and c.e.o. for their financial ties to the late jeffrey epstein and just days ago the case was a son to a judge who ended up his family to be murdered but you know what has nothing to do with the story right epstein has nothing to do the story deutsche bank has nothing to do with the story but all of us you know it's this immediate magnet you know this is got to be connected we've got to have a good story for the nightly news this guy is a nut. case and he did talk about it but to me it's so bothersome when you see the media always trying to trying to corner a story where doesn't belong this is one of those exactly right i think it boils down to click bait you know thing to do with epstein draw people's attention to i want to know anything about him who is connected to it because it's such a rabbit hole of who did he know that he blackmail people this that the other stuff they can take a high profile case like this which had a loose connection if you will and a tenuous connection to the epstein

surnames along with all that suspicious cash withdrawals of more than $800000.00 over 4 years deutsche bank had a financial relationship with epstein from 2013 to 2018 and according to this consent order to a chip bank was aware of suspicious cash activity throughout the relationship and the bank continued to maintain the relationship for years despite additional red flags the bank cut. i was with epstein in 2018 after the miami herald published its investigative series about epstein sordid history and question of prosecution under the contentious 2008 plea deal the statement doesn't name any of absence coconspirators f.b.i. agents and n.y.p.d. detectives arrested going maxwell in new hampshire july 2nd on charges of sex trafficking minors and perjury she's long been accused of helping to recruit and abuse the young women and girls epstein allegedly abused for many years some of them as young as 14 years of age maxwell is currently locked up at the metropolitan detention center in brooklyn on 24 hour suicide watch one of the big questions when incriminating evidence to she potentially have

so he should know agrees with them deutsche bank top credit strategist make stunning admission i am a gold bug for money is a passing fad in the history of money so he said gold is definitely a free up money hedge he's buying gold and that money will be a passing fad in the long term history of money well yeah this it always has been a passing fad and there's always a return to gold the thing is that when you have money printers in charge the act of printing all that paper money to anger and dies themselves really fills their head with dreams of it's fear supremacy that's the ultimate form of supremacy is i print therefore i am and if you can pull the levers of political power with your fear of money if you can acquire assets with your fear of money that gives you that god complex that we have so much of a around the world and countries and big corporations and now it's all going to come crashing down silver prices on one day in the past week it went up 13 percent so silver is back it's pass through its long term resistance for the past 6 years 20 dollars and about $0.50 has been a re

>> these documents and others were provided to deutsche bank on one occasion where i was with them in our attempt to obtain money so that we can put a bid on the buffalo bills. >> so there you have it, eamon, exactly what michael cohen testified about. we'll see what he has to say to reporters in just a few minutes. >> we're keeping an eye out on that as well as so many other developments including our first reaction from capitol hill. let's go straight to leigh ann caldwell, first reaction from the chair of the house judiciary committee. why is he central? >> reporter: that's right. we heard from jerry nadler, chair of the house judiciary committee. in a tweet he said "no one is above the lawlaw," responding t the supreme court decision in this case. the reason he is so instrumental in this is of course the impeachment hearings went through his committee and he has been investigating this president throughout, even though his specific committee was not part of these subpoenas that led to the supreme court case. we are told that lawyers, the house lawyers of the intelligence committee

deutsche bank has reported the biggest gain in fixed-income trading in almost eight years. we've been speaking to the chief financial officer. thee are pleased with performance in our investment bank, which is up 52% ex-items. tradinghat, we have businesses, rates, fx, emerging markets which you have seen interrupt significantly year over year -- they are up significantly year-over-year. we have doubled our performance year-over-year for three straight quarters so very pleased with that performance. part of it is participating in a better market opportunities that have existed in the second quarter and we expect normalization of that, but you need to remember that in our case, we've been working to stabilize, grow the franchise, recover some market share and what we are pleased to see is underneath that how performance the market environment that we've been in, we've seen really good franchise stabilization, engagement, and we think that bodes well for the future. >> you are expecting slightly higher revenue for the full year. is that not too conservative now given what we'v

deutsche bank has its biggest gain with 16 trillion dollar figures and we have been speaking to their financial officer. >> we are pleased with the performance and our investment bank which is up over 52%. within that we have trading businesses that are in rates, affects, and emerging markets and are up significantly year-over-year. in the rates context, we have performanceour year-over-year for three straight quarters. very pleased with that performance. part of it is participating in the better market opportunities that have existed in the second quarter. we expect a normalization of that. you need to remember that in our toe we have been working stabilize, grow the franchise, and recover market share. we are pleased to see that underneath that outperformance in the market environment we have seen really good franchise stabilization, traction, and an in client flows. we think that bodes well for the future. >> expecting slightly higher revenue for the full year, is that not too conservative now given what we have seen in the first half? normalization a of the first half, but i think

as for deutsche bank they say they deeply regret their association with epstein. n is with us. this is significant because it's the first time that a bank has been fined in this way for, you know, for allowing for the money transfer that really allowed for a lot of this. >> that's right, poppy. banks are required to know who their customers are and to flag shady transactions. new york regulators are saying deutsche bank failed to do its job here with none other than jeffrey epstein. they failed to apparently flag some of these suspicious transactions. let me just give you a few xarkles that new york regulators failed to take note of. there were school tuition payments for several women. there were payments to russian models and other payments so the regulators are saying that deutsche bank had a lot of mistakes. there was a lot of sloppiness. for their part deutsche bank put out a statement acknowledging they had some errors and fail ours when they brought epstein on as a client in 2013. they say they have hired hundreds of workers of new employees to their financi

our top story today the family of a federal judge overseeing a class action lawsuit involving deutsche bank and jeffrey epstein has been targeted by a murderous men's rights activist yeah this story is something you'd expect from a bad made for t.v. movie but as the old cliche goes the truth is stranger than fiction over the weekend the son and husband of the u.s. district judge esther sallis were shot at their new jersey home by a man disguised as a fed ex delivery driver judge phalluses 20 year old son daniel and her all died while her husband mark suffered critical injuries judged alice was reportedly home in the basement of the time of the shooting so she was not injured the f.b.i. confirms the suspected gunman is men's rights activist and attorney roy den hall and. there they say his motive may have been an active legal case that he'd been involved in that judge sallis oversaw but the suspect stepped back from that case because he was diagnosed with terminal cancer but they may never know for certain what the motive was because one day after allegedly shooting me and girls hollanders b

deutsche bank posts a small and the ceo talks about breaking even this year. allenging second half. we hear from jes staley. welcome to "bloomberg: surveillance." i'm francine lacqua in london

quite stunning want to take you to deutsche bank, some news crossing this morning that an uptick for shareholders and the ceo says in the second quarter the momentum continued particularly in the investment bank and we have seen a lot of activity in that part of the banking world. and so deutsche bank says it is seeing that in its business the ceo remain confident that they will reach their cost target this year and its 2022 targets and deutsche bank ceo says that the investment bank is clearly on track and the ceo says that there will be a bit of a slowdown in dcm business in the second half. so also warning about some of the unevenness in the business so far the ceo says that it will be hard to repeat one to one what we have seen in the first half as it plays out in the second half but they are even ahead of their own internal plans which they gave themselves pre-covid. so you may recall that they allowed huge changes to the business before coronavirus hit. and the ceo says they are still trying to achieve the pretax profit so still has their eye on a significant target so it was a

dividend and intends to resume full cash dividends, quote, as soon as market conditions normalize. >> deutsche bank is higher after revenueses rose 46%. the bank struck a positive tone for the rest of the year the cfo told cnbc the bank stands ready to regain the market share >> is some of that has carried through to july. the trends i just described. normalization but still a transition we saw coming through are trends that would continue we like to see a better performance in the second half of 2020 than is the case in the second half of 2019. there are a lot of uncertainties in the marketplace we don't want to get too far ahead of ourselves it is gratifying to see that momentum. >> what has investors more excited this morning >> i think it is the outlook they are more optimistic despite the loan provisions which are very high given the slump in the second quarter the revenuout look, one could say they are hiking it slightly now they are seeing it to be flat of course i asked what he thinks would be the biggest effect of the crisis on the bank's business >> i think the crisis does two major thing

so that was a class action suit with deutsche bank. so there are a number of things that investigators are looking into. and again, as i mentioned, her husband, as well, a criminal defense attorney. so a lot here that vrinvestigats are sifting through. and it's a massive investigation. neighbors telling us that the son was really the heart of this family. she recalled a story whendelive the snow a couple of doors down, just to make sure that the neighbors were well taken care of during a massive snowstorm, loved playing basketball and baseball with his father. just a heartbreaking story and so many questions still need to be answered this morning. >> indeed, indeed. brynn gingras, thank you so much for being with us. joining us now, jonathan bawakr, a former secret service agent in the obama white house. this judge was presiding over several high-profile cases, the husband also a criminal defense attorney, which raises questions. how are federal agents now going about investigating this case? >> thanks, john. listen, this is a very com

new york regulators say deutsche bank has agreed to pay 100 $50 million to settle claims that it broke compliance rules in its dealings with jeffrey. the regulator said deutsche bank failed to protect or prevent millions of dollars in suspicious transactions including payments to epstein's co-conspirators and russian models. women's rights groups in france are protesting a man facing accusations of rape as interior minister. he is under preliminary investigation and denies any wrongdoing. emmanuel macron's office says this is not an obstacle. the german aid organization says the coronavirus pandemicic could push a a billion people e aroune world close to starvation. the charity has launched a campaign to support some of the world's poorest. saying it needs to raise 100 million euros to help those whose situation worsened because of the pandemic. video has emerged appearing to show masked men attacking migrants trying to reach greece. the identity of the attackers remains unclear but an investigator by dw news has uncovered information suggesting the attackers may be linked to the greek

george saravelos of deutsche bank. coming up, the former ambassador to the e.u.will talk about the foreign policy, spat between the u.s. and europe. we have been looking at gold, we are looking at gold with tom. we have also been looking at some of the economic toll from the virus. now, this is what the markets are telling us. if you look at european stocks, equity futures are up. investor earnings from all sides. they are looking past the tensions between beijing and washington. the dollar actually flipping for a fifth session, and i know, tom wants to talk about gold. it is advancing for a fifth day, and we were just asking george saravelos about the you want. the renminbi strengthening offshore. treasuries pretty much steady. i have heard a couple of research notes from some banks saying that actually when you look at the asset, because we had white a lot of news, the stimulus from central banks mean that they could be range bound, and a lot of the rickets -- of these markets. we will explore that shortly. this is bloomberg. ♪ >> a breakdown in relationships w

the calculations of deutsche bank for stimulus are extraordinary. do you just see that out there, that we run out of options and bonds and we've got to go to ever greater fiscal stimulus? sebastien: i think that's correct. one of the highest estimates i have seen for the global stimulus measures between fiscal , monetary, all over the world is $24 trillion, if you include some potential measures. think about that, $24 trillion. the size of the stock market webally is $50 trillion, so are talking about stimulus measures that represent half of the total market cap of the global stock market. we are getting more money relative to stuff to buy than ever before, and we are getting it three times faster than ever before. lisa: i am buying your cause here and saying stocks perhaps look better than bonds. so why are you selling stocks right now? sebastien: we benefited from the recovery, and there are risks to this rally. to be clear, we are neutral. we think now is not the time to be a hero, if you will. some of the key risks are what you are talking about

binky chadha thereof deutsche bank.e been conditioned to be negative, but europe has got it together so may times, and again and again, it's come out of the other side with a suboptimal, mediocre agreement. tom: explain the netherlands here. i think our audience in america doesn't understand the nuances of netherlands between the united kingdom and particularly relationshipds' with germany. jonathan: it includes austria and others as well, the frugal four. for me, the issue is there's got to be some kind of fiscal transfer. there can't be loans. there need to be grants. if there is not agreement on that, if there is no formalized mechanism to get unity around, then i think we are in store for a huge upset coming out of the weekend. we need to see some progress. for many, it is not about the size of the agreement. it is about the mechanism they agree to. if you can get that mechanism for fiscal transfer, then over time, people will believe that sets the stage to do a whole lot more down the road. tom: we haven't touched

new york regulators say deutsche bank has agreed to pay $150000000.00 to settle claims that it broke compliance rules in its dealings with the late sex offender geoffrey epstein a regulator said deutsche bank failed to detect or prevent millions of dollars of suspicious transactions including payments to epstein's coconspirators and some russian models thing. if you ask investors electric carmaker tesla is the most valuable car company in the world but that's based on their hope that the company can be an industry giant like books flying toyotas or g.m. to get there though tesla needs to build a lot more cars and they're making progress construction of a new factory near berlin is ahead of schedule though not everyone in the neighborhood is pleased. if if the fires in question located 40 kilometers southeast of the german capital berlin it's here include hyder that tesla wants to begin producing electric vehicles by the middle of next year construction of the plant set to employ some 10000 people is a ready well underway. the multi-billion euro investment is music to the ears of show

deutsch bank ceo tells cnbc the bank should have never taken jeffrey epstein on as a client as it agrees to pay a $115 million fine. >>> confirmed drove cases in america have crossed the 3 million mark while the death toll has made the biggest one day jump since early last month. let's look at the markets as they double down on the concerns around the coronavirus and of course the economic impact the european markets had a contraction. decent forecasts for investors to rake through just highlighting some of the fears that many have had in the spike of fresh cases we are seeing in terms of the market action, we are picking up on the wall street trade and to european markets that reversed. you can see another modest decline. 1/3 of a percent coming off the benchmark. the sectors and the boards the ftse trade is down by .2 of a percent. it is a minimal decline. we're hearing further reports around consumption, any further scheme to try to support market businesses that has meant we are just down modestly this is what you are seeing down on the french market quickly it minimized its losses,

so he should know agrees with them deutsche bank top credit strategist makes stunning admission i am a gold bug fear money is a passing fad in the history of money so he said gold is definitely a fee out money hedge he's buying gold and that money will be a passing fad in the long term history of money well yeah this that always has been a passing fad and there's always a return to gold that the saying is that when you have money printers in charge the act of printing all that paper money to anger and dies themselves really fills their head with dreams of its supremacy that's the ultimate form of supremacy is i print therefore i am and if you can pull the levers of political power with your fear of money if you can acquire assets with your fear of money that gives you that god complex that we have so much of a around the world and countries and big corporations and now it's all going to come crashing down silver prices on one day in the.

buying the narrative because judge sallis is currently overseeing a class action lawsuit against deutsche bank by investors who accuse the german financial institution of failing to monitor known high risk clients including jeffrey i've seen now this judge was reportedly assigned to that just 4 days prior to this incident so just the what do you think happened here. boy i don't want to say god this why this one is so bizarre our mood our look at there's. obviously we're only see of the tip of the iceberg you know there's got to be bored if there's a god don't know where to go with their son did this allegedly this hot. and there had a case in front of the judge the way i understand it 23 years ago and then he got out of the case because he said that he had a sickness cancer or whatever it was would he sit in the hold that grudge for 3 years being involved in a case for that long and then disguise himself walk up and he doesn't shoot the judge he shoots the judge's son and her husband well what what was rat for why would he do that if he was looking to simply eliminate her because her his grudg

is the one who went to him all the money right right right there right that's right deutsche bank it's a bank or africa at blackrock the biggest asset manager in the world has handed the responsibility of buying assets for the fed they're even allowed to buy some of their own assets housing out this couple right or if the ultimate conflict of interest is to buy their own assets with the exchange traded funds they create these funds that they put all these lousy bonds in and then they sell them on to the fan explain if you wanted to have house sees that were bad for investors this is what you do this way the only investors who benefit are the blackrock and masters anybody who is not a black rock investor is shrewd for. me if we go back by the way the cares act that was passed to deal with we saw. in 1000 in his signing statement for the act trump said the act requires some de minimus amounts of transparency we're not going to provide them. so what you see is little peeks into how the money is being spent and we're talking $2.00 and a half trillion dollars where the fed was also kin