joining us is catch up or the con scheme katia porzecanski, to talk about that. the last quarter, they lost $80 million. david: liza's this bank in particular having so much trouble? katia: they really specialize in niche things, like distress trading, energy trading, they do leveraged loans and leverage lending. particularareas in that are affected by anticipation of the fed hike, and also energy prices down about 55% in the last quarter, with a fiscal quarter that ended in november. david: any sign that things were going wrong? banking was upnt quite a bit, that helps them overall have gains for their whole business. but even within investment banking, their debt underwriting was down 50%. they took on a lot of leveraged loans, and we saw they were part of this consortium of banks that are now stuck with this debt that they landed to carlisle to buy out symantec. they can't get that off their books. if they get that off their books, they could sell them at a loss. even that, we still to see how that turns out. there also able to cut costs a lot. let's talk abou

katia porzecanski, thank you. and thank you to this great group. we have a lot more to cover. ♪ david: coming up next on "bloomberg ." norfolk southern rejected a bid from canadian suffolk. we hear about that next. ♪ when you're on hold, your business is on hold. that's why comcast business doesn't leave you there. when you call, a small business expert will answer you in about 30 seconds. no annoying hold music. just a real person, real fast. whenever you need them. so your business can get back to business. sounds like my ride's ready. don't get stuck on hold. reach an expert fast. comcast business. built for business. to discover the best shows friends together and movies with xfinity's winter watchlist. later on, we'll conspire ♪ ♪ as we dream by the fire ♪ a beautiful sight, we're happy tonight ♪ ♪ watching in a winter watchlist land, ♪ ♪ watching in a winter watchlist land! ♪ xfinity's winter watchlist. watch now with xfinity on demand- your home for the best entertainment this holiday season. david: welcome back to "bloomberg ." it i