headline this week s t c e pursues egan jones moody's and s. and p. remain at large the securities and exchange commission voted thursday in favor of bringing in a ministry of action against egan jones in what would be an unprecedented move the f.c.c. could seek to punish the firm by stripping it of its ability to issue officially recognized ratings on securities tied to government debt and asset backed deals an f.c.c. spokesman declined to comment the move stems from alleged material misstatements even jones made when it applied to regulators in two thousand and eight to rate bonds issued by countries u.s. states and local governments and asset backed securities perceptions run the economy the rating agencies are supposed to cut through the smoke and the mirrors give a rating that gives investors an opportunity to do some analysis to do some comparative shopping so here is the government stepping in and saying you're going jones you're an independent rating agency you don't take money as the others do for your ratings we're going to take you off line

as the financial services sector considers themselves holy some sort of religion moody's and s. and p. of course did give the holy blessing to toxic sinning assets they were sinners and they said no i have sanctified these. people indulgences right out of the textbook or the pope from the middle ages you've committed a sin give me some money and you're absolved from that sin you go directly to heaven same thing with these radios he's give us the money will turn your triple c. rated toxic securities sludge into a aaa rated god loving security. this latest edition of the kaiser report is coming your way at seven hundred g.m.t. . the highs and the lows in russia over the past four years will be the focus in the final question the answer session going president dmitri medvedev also taking live questions from journalists songs future role in russia's politics let's now talk to r.t. he's going to go to school for more on this. hi there it's quite common for dmitri medvedev to hold sessions like this but today's meeting is a bit different isn't it. that is absolutely right this is goin

as the financial services sector considers themselves holy some sort of religion moody's and s. and p. of course did give the holy blessing to toxic sinning assets they were sinners and they said no i have sanctified these assets people indulgences right out of the textbook of the pope from the middle ages you've committed a sin give me some money and you're absolved from that sin you go directly to heaven same thing with these ready and he's give us some money we'll turn your triple c. rated toxic securities sludge into a aaa rated god loving security. yes the latest edition of the kaiser report is coming your way in just over an hour's time. to the highs and the lows in rush hour over the past four years with a focus in a final question and answer session with outgoing president dmitri medvedev a special session with journalists who also be quizzed on his future role in russian politics what he's going to this guy has the details. all eyes will be on the russia's president dmitry medvedev as this will be his last interview to the media in his current position for the first tim

as the financial services sector considers themselves wholly some sort of religion moody's and s. and p. of course did give the holy blessing to toxic sinning assets they were sinners and they said no i have sanctified these assets people indulgences right out of the textbook or the pope from the middle ages you've committed a sin give me some money and you're absolved from that so you go directly to heaven same thing with these radios he's give us the money will turn your triple c. rated toxic securities sludge into a aaa rated god loving security. people's political awareness in russia has risen dramatically and the government should respond to that that's according to outgoing president to me i mean very deep he was speaking during the last q. and a of his tenure his words were in regards to the latest wave of post-election mass rallies across the country are it is it even summed up some of the final words this president. this is the last interview that medvedev has given to a journalist before handing over reins had to put in so a very broad range of issues was covered not the

as the financial services sector considers themselves holy some sort of religion moody's and s. and p. of course did give the holy blessing to talk sic sinning assets they were sinners and they said no i have sanctified these assets people indulgences right out of the textbook of the pope from the middle ages you've committed a sin give me some money and you're absolved from that sin you go directly to heaven same thing with these radios he's give us the money will turn your triple c. rated toxic securities sludge into a aaa rated god love and security. and. the latest edition of the cause report is coming your way less than thirty g.m.t. . france is pushing for military intervention in syria saying the u.n. should consider harsher measures if an international peace plan collapses violence from both the government and armed opposition forces is continuing despite the cease fire agreement but as oksana boycott discovered average syrians are often being forced to engage in the conflict. a lifetime of work burned overnight. this is one of a growing number of businesses in syria des

us let's get the situation straight here so moody's and fitch have the u.s. as aaa s. and p. as double a plus and now this new on their own agencies says is double a so which one is right. well you know in america is the largest economy and the most successful economy historically in the world it has the world's reserve currency. is facing enormous structural difficulties right now. cvs to find very difficult to to solve. you know i think until they find some way to move forward on those problems it doesn't deserve to have the highest possible rights and so i think the double a right to use more go right now speaking of these structural difficulties is there any indication that washington is doing anything to resolve its debt situation. they're certainly trying there's a lot of conversation going on they are trying to find ways to cut expenditure they're trying to buy a grace to raise revenue but you know you see it's political deadlock there until they can find some way to agree on needs to be done to solve these enormous just situational issues that could place america unti

before the collapse of the cfo told standard and poor's, s&p, that goal -- mf global is in the strongest position ever and actually while moody'shad downgraded mf global to junk status four days earlier at the time of the collapse, s&p still had mf global at investment grade. were you consulted in any way on the representations made by mr. jon corzine or by mr. scene can't? >> i was not. >> did you know those representations were being made? >> mr. jon corzine comments i believe for public. if i understood the "that you are referring to. the representation that you mentioned before, i was not involved or could not represent him on what the context was that he was -- >> did you pass along to anybody that you disagree with those representations that you thought there was still in fact an arrest? could you tell? >> sir, as i mentioned, as far as the risk highlights and risk reporting goes, at the august board meeting there was quite a detailed representation of both verbal and a power point presented. is that this sort of example you are referring to? >> you have an auditor. price waterhouse coopers. today raise any concerns about

that's moody's fourth highest downgrade rating. cites risks associated with -- >> s&p would you say? >> i tried something. i'd give it 49% of my best to spin it a little. cites risks associated with ge capital. moo moody's says because of ge capital's large size, it still has to rely on funding from financial markets even though it's much less than it was. if you recall, andrew, the company never wanted to be that dependent on the cp on the overnight funding. they've done a lot, but now the ratings agencies are paying more attention. moody's argues these markets were not reliable during a recent credit crisis, but says the company's industrial businesses, at least, are strong. in a statement a ge spokesman says ge's liquidity and capital position have never been stronger. moody's actions were based on a change in their own methodology rather than our credit position, which has only improved in the past few years which is what my impression was of -- i thought this would have been, but probably a guy -- >> andrew williams. i know andrew very well. >> oh, i do know --

moody's downgrade. unemployment data. still got a negative outlook along with fitch, of course, and the s&p downgrade. in italy, we're concentrating of course on auctions today. about 3.25 to 6.25 billion euros will be auctioned. keep our eyes mainly on the 10 and 59 year auctions today. 5.2% is the ten year yield previously at an auction and 4.2%, you can see we're trading at 4.9, so yields will be higher. demand should still be okay. we did see dollar up across the board earlier. things changed around a bit. euro dollar thousand back to where it started. the yen certainly weakened after the bank of japan, sterile liding half of it, so again the dollar just come off again the yen. aussie dollar has regained some of its losses. and now the pound is up against the dollar, as well. christi christine. >> here in asia, we're seeing several chinese banking heavy weights reporting q1 results. tracey chang is watching out for these. >> we are expecting results anytime now from big lenders like ag bank, icbc and china construction bank. analysts are expecting earnings growth for the whole sector to decrease a

moody's thing has to be taken in context of where all the rating agencies are. we've had two years of potential ratings action now coming out of the crisis. not surprisingly. and where fitch and srated in a territory moody's is now going through their process. i don't want to prejudge where they come out. >> why should it matter, james, at this point? why should it matter given the behavior of the rating agencies and their failure to completely appreciate risk during the period of the late 2000s? >> i think it remains an important input but the big credit buys around the world, big debt buys around the world obviously do their own credit rating at the same time. it is an important influence but not the only influence. you go see it in the context of what all the rating agencies are doing and all the credit shots are doing. i think moody's on a mission this would be a late change. you know, obviously a lot closer would have intuitively made more sense. whether they end up moving to the more extreme ratings i don't know. i would be surprised if they do frankly. look at the u.s. corporations. we've all come through the stress test quite strongly actually. incredibly challenging te

moody. the tech is having the best since 2011. some tech stocks are not participating in this rally. june per reported a beat and a rally. a lot of factors could impact the future profitability. sering the outlook on india and one of the largest i.t. firms. citing concerns around inflation. gary, back to you. >> sands is a big name after trading closes today. what should they expect from the giant? let's take a look. jane wells, what do you have out there? >> reporter: 60 cents a share, revenues of $2.6 billion. some analysts raised price targets to $68. expecting a really good forecast, not just a good quarter behind us. they think the junket in macau will continue and that should benefit the new sands report advancing in stages bringing the spotlight back to macau from singapore. wells fargo expects a decent return but partly due to the reallocation to the new sands resort and then there is sheldon's announcement. >> we're looking at 3,000 room each mini las vegas, about half the size of the las vegas strip in spain for the european market. >> reporter: in europe. what about las vegas? well, analysts expect improvement but sad to say, vegas is now of a more niche market. if y