even though he was the host of the invesco field extravaganza in 2008.s for andrew romanoff, the former state house speaker in colorado, now running for a seat in the u.s. congress and he is also apparently just too busy to meet the president. what are we to make of this? brit hume is our senior fox news political analyst. what a difference. i know you were there. you were our elite anchor during the 2008 festivities. you were there, and i was there, i remember standing in the crowds, the enthusiasm, the enthusiasm, the belief that this was going to be a different man, a different politician, he was going to change the future of this country and as promised,ed world. here are shots of me taking in the crowd. what a difference now. i realize getting off the plane on a tarmac is a different experience. these are democrats who don't want to be seen with him. >> at the moment, this president is politically radioactive. he is confronted with as bad a set and extensive a set of woes and troubles as a president i can imagine. i suppose if you posit franklin roo

andy, tell us more about the invesco manager that is now taking over the bank. frenchman. he was the former ceo of invesco europe, and he has about 20 years of experience with the company before leaving it in 2011. he has also got deep contacts within the industry because he was for two years the president of one of the big trade groups here. so really the role that pope francis wants him to fill is one that he can transform the bank by continuing the compliance drive and really kind of get the bank on an asset management tra ck and perform up to the standards of its more traditional peers. >> does that mean the bank will be opening up more? will we see more outsiders having opportunities to do business with the bank? >> that is a distinct possibility. if you ever wanted to do business with the vatican bank, now is the time to pitch it. there is the former chairman of deutsche bank joining, and a whole new management team. the head finance guy at the vatican, cardinal george pell, was asked that question at the press conference. he said they are going to work wi

included the ceo, the top official at the intercontinentalexchange as well as top officials from invescond nasdaq. america has the most deepest and liquid capital markets and isity training -- trading strong. there are problems in those markets brought on by a group of high-frequency trading. in the -- there are new issues regulators need to address to restore investor confidence in equity markets. ahead of the continental exchange, he says one of his answers send more business to regulators. >> we believe we should enhance competition by giving deference to transparent training centers where workers compete with one another and provide information to all others. had his own list of ideas. among them was more transparency on where their orders are going. we believe they should require brokers to publicly report consistent and standardized execution quality metrics in a way that allows retail investors to easily compare a performance. we can empower retail investors with information about brokers execution quality and position them to make informed choices. testifiedwho suggested regular

there were basically we were not really doing serious invesco reporting we were doing stories about investigations that others were doing like the government but there was no i wanted to actually do original investigations i went to do interviews with folks who were directly involved i want to go through the documents myself i didn't want to come in after newspapers had written about it and just do a morality play based on a few key people's and somebody is article so i had a difference of what i thought we would be doing you know that's a really good point because even when i cover topics like on this show people say well i didn't read about that and the new york times or see it on c.n.n. so how do i know that that's the truth and that's exactly what you're going with what you're saying is that what you do original investigations people still want to have it confirmed by all these other places where they do i would write memos and say you know this is about to happen it was a big big story several times this happened then they'd say well i didn't read the new york times and i'd say that's not my

announced the new head of the bank is to be a frenchman, jean baptiste, who was the chief executive of invesco so being brought in from outside to reshape and restore some confidence in the vatican bank. the institute for religious works or ior as it is called and it was george powell here who made that announcement. jean baptiste will take over running of a bank which has seen its profits plunging from 85 million euros down to about 3 million euros last year. "bbc world news." thanks for watching. the cadillac summer collection is here. ♪ ♪ during the cadillac summer's best event, lease this 2014 ats for around $299 a month and make this the summer of style. ♪ at legalzoom virtually all yourof important legal matters in just minutes. now it's quicker and easier for you to start your business, protect your family, and launch your dreams. at legalzoom.com we put the law on your side. 58 seconds on the clock, what am i thinking about? foreign markets. asian debt that recognizes the shift in the global economy. you know, the kind that capitalizes on diversity across the credit spectrum and gets e

you got the top stock trader for invesco.list of market participants taking part in this hearing today. the general takeaway so far is all the improvements in technology, the speed with which stock trading takes place has largely been a good thing for investors, both institutional and retail investors. but there have been problems recently and questions about fragmentation him of the rise of high frequency trading, and whether or not, as michael lewis "id it in his book "flashpoint -- whether things are rigged. we've heard about suggestions for regulatory changes. suggesting more transparency for retail investors and where their orders go. >> we believe the sec should require brokers to publicly report consistent, standardized execution quality metrics in a way that allows retail investors to easily compare performance. we can empower retail investors with information about brokers execution quality and position them to make informed choices. include ideas restricting orders to regulated list exchanges away from dark pools. h

holt,nt to bring in kevin the senior portfolio manager at invesco. one big area of value is in the financials. why? >> good morning, betty. we still like the large universal banks. better than expected earnings, very low expectations, valuations on a normalized earnings basis are still below. the company's ability to execute -- city is our largest holding. digginget has been through these results. there are several headwinds that citigroup still faces. >> i want to recap the numbers to give you some perspective. the headline number everyone is focusing on is the three point $8 billion pretax charge at is tied to the settlement. excluding vat, earnings per share came in at 125, easily beating analyst estimates. trading was sluggish for the quarter but fell less than anticipated. they warned it would felt anywhere below 20 to 25%. operating expenses, you know that expense control has been a big theme for these financials. it was almost double the rate analysts anticipated. are some of the numbers that scarlet has gone through. certainly as we are talki