percent of its year and still has a room to grow in twenty eleven learn to talk the president of morgan stanley in russia is here to tell us more about that so. well in terms of investments this here obviously wasn't so successful so what's been driving investors away and how we can get back to them i would say isn't really something driving the bus tours of boy it was the competition of the other bric countries that made a difference and russia has been hit the hardest during the last crisis obviously and the other bric countries have been growing faster since. almost twice as fast as russia and therefore russia has become just less sexy for the international investors and therefore that was us amount of russian stocks russian bonds it has improved quite a bit by the end of this year and we're looking quite optimistic way into the next year so russia will be will be saying quite competitive compared to other bric countries it will become more competitive with think and we see more investors coming back to the russian market with the recent i.p.o.'s and secondary offerings of the russian compan

say russia on a relative basis and become quite attractive especially if you came into two from morgan stanley in russia thank you very much for joining us this hour now here in russia let's have a look at see how the markets off of forming the both there's a high of a slowing alter and i think rally nice the main players are climbing with neurosurgical leading the games up more than one percent record is bucking the trend they are heading more than one point five percent this hour and over in europe stocks are mixed this hour with dutch chip maker group and a s. and l. sorry up seven percent after lifting its all the booking instrument will feel cool to manas are doing well in the good seed with friends near all three point three. and over in asia stock markets are mostly higher with the take a market benefiting from a low again deposit nikkei is closed no five cent because with a strong finish in the us someone say. over the next three years gas from piles to spend almost ten billion dollars on gas fails a pilot project only a mile from the incident according to vedomosti newspaper. men coba

and the number of instances when major firms like goldman sachs, morgan stanley and citigroup borrowed from the fed-- in some cases more than 200 times. neil irwin has been covering the fed for the "washington post" and he joins us now. >> thanks. >> brown: the first thing that jumps out is we knew this was big but we didn't quite know how big, right? >> exactly. we knew there were many billions of dollars lent during the dark days of the financial crisis in 2008/2009, the question was who was getting the money. we know the answer now is almost everybody. name a big bank, a big firm, it's on this list. >> brown: and the fed was compelled to... nobody was lending, flight so the fed was doing what is this >> what happened the financial markets shut down, the financial system was in disarray and at risk of complete collapse and the fed said, you know, we're going to step in and be the lender of last resort. we won't lend just to banks or their normal counterparties but anybody who needs money, whether it's commercial paper market-- which is a form of sherpl lending-- large industrial comp

capital's $42 target to morgan stanley's $50 goal. many of the analysts rate the stock a buy ahead of the 2012 malibu and redesigned pick-up trucks and sport utility vehicles. all the talk got g.m. stock moving higher, up to a new high after its november i.p.o. shares added 2% to close over $35. with the surprise drop in consumer confidence, consumer stocks were the worst performing today, but not sears holdings. it's launching its online movie business. the stock rallied more than 2%, breaking out of the trading range it has been in for the past three weeks. this close over $70 is its highest since mid-november. it's new movie download service is called alpha-line. it will have movies for download the same day they're released on it is worth looking at the industry leader netflix. shares climbed 2% despite the new competitor. it has backed off the $200 per share it hit late last month-- that was an all-time high. the stock has more than tripled over the past year. finally, the business of rare earth minerals. those are elements used

. >>> morgan stanley is planning to rein in executive pay, as the rest of wall street is expected tohand out huge year-end bonuses. the bank says employees who do well will still get paid well. but others will see their compensation fall. >>> overseas stocks are rising across the board this morning. tokyo's nikkei average climbed 0.5% today. meanwhile, hong kong's hang seng is higher. and in london, the ftse opened higher. on wall street, the dow added 13 points yesterday. and the nasdaq was up ten points. >>> federal regulators are considering ways, now, to prevent customers from getting caught in the middle of those fee disputes between cable companies and broadcasters. the fcc says it will now propose some new rules to protect viewers from losing their tv signal. part of the world series was blacked out for millions because of a battle between fox and cablevision. >>> well, a new batch of billionaires has agreed to give away most of their wealth to charity. facebook founder, mark zuckerberg headlines the list of 17 tycoons that signed on to the giving pledge. the pledge was starte

so this is i have my own where they actually say morgan stanley but in fact tony blair as they're working for g.p. morgan as a senior advisor. and this is from the daily mail they're saying that kuwaiti sources have told them that the former prime minister was the forty two point five million dollars this year for advising the government of kuwait last year he meets six hundred forty thousand dollars as the un peace envoy to the middle east paid primarily by british taxpayers and you speak three point two million by j.p. morgan no blood for oil tony of arabia if you do the math there forty three million dollars of it member he was responsible in large part for committing genocide. lot of iraqi murdered a million innocent civilians in iraq that's about two cents per life of iraq and so the iraqi life to tony blair for about two cents a piece he cashed in on that made forty three million dollars good by tony blair and of course you don't pay any of that taxes any government you just keep it sheltered offshore somewhere to pay for your smack bill and so finally max we are moving and we menti

morgan and morgan stanley initiated coverage of the automaker with a positive view of all disney and boeing looks at least half a cent a lead to clients on the dow jones. european stocks are slightly higher as markets attempted to buy a spot from losses in the prior session with again is led by the banks and all stocks the german dax is trading flat to negative carmakers are still the top losers with balls by going on man down two point six and zero point eight percent respectively that puts a remains closed for a public holiday. and in russia the stock markets are trading in the black this hour with the r.t.s. up about a quarter of a percent and that my six and gaining trust in the. wow that was a business update this hour join us for nor in about twenty minutes time. six thirty pm in moscow good to have you with us here on r t these are your headlines russia slams the e.u. and us for attempting to influence the trial of. the former oil tycoons awaiting sentence after being found guilty of embezzling billions of dollars. passenger frustration grows of moscow's ice cover to airports

and food sector we've been against jen she was at one point five percent off it was upgraded by morgan stanley the first she has a raised earlier losses and is trading back in the black. markets also low with investors concerned over beijing possibly raising interest rates the nikkei has slipped from a seven month high on friday on profit taking both down more than seven percent thanks and has also dropped sending the benchmark index to its full weekly decline in five weeks. to news in brief for you now the national bank of ukraine the ruble to its currency reserves bank they should say the decisions are already been approved by the i.m.f. it's part of a plan to boost the role of national currencies in bilateral trade. u.s. regulators have frozen the assets of unnamed investors who bought shares russia. juice group down just before pepsi co and they'll take over that one of the news a swiss bank account to buy four hundred thousand american deposit she receipts which are proxy for dance shares on the new york stock exchange it's illegal in most developed markets to use inside information to pr

and food sectors leading the gains potential is up one hundred percent after it was upgraded by morgan stanley. and here in moscow the voices are climbing with all the main gaining on the r.t.s. ross net is the biggest winner up nearly one percent bucking the trend is lukoil but sharing the same air flow chaz have dropped four point three percent on news of a stake sale more about that and. now the national bank of ukraine will add the ruble to its currency reserves bank officials say the decision has already been approved by the i.m.f. it's part of a plan to boost the role of national currencies on a trade. look or as planning to sell want to have been in dollars of convertible bonds due to do in two thousand and fifteen it's the russian oil giants first sale of such debt in almost a decade the unsecured bonds will have a coupon of two and a half to three percent and will be convertible into eighty r.'s listed in london a spokesman for the company declined to comment on the reason for the sale. u.s. regulators have frozen the assets of unnamed investors who bought shares in russian jews group

latest numbers that came out as we're speaking show that the five biggest banks goldman sachs morgan stanley citibank and bank of america have seen their biggest revenues ever and you've got in general the financial sector bouncing back to conditions of profit and bonuses that haven't been seen in decades in many cases the highest on record somehow this country's been persuaded. that the first and foremost important thing to do is to help the super wealthy and then somehow it will trickle down on the rest well we've known that was bunk for forty years but there hasn't been i don't think a loud enough argument coming from the left to explain how that money that's pumped into the top stands tends to remain spent you've got one point eight trillion dollars sitting in private bank accounts untouched by the government keeps giving money to private employers but they keep not employing anyone and banks are sitting on their cash. when you by contrast plug the money pour the money into the lowest part of the economy then you have a much better chance of stimulating the economy that's the argument th

and food sectors leading the gains renshaw is up one point five percent after its upgraded by morgan stanley but c. has raised losses and is trading back in the black this hour. and briefly now the national bank of ukraine will out the ruble to its currency reserves bank should say the decision has already been approved by the i.m.f. is part of a plan to boost the role of national currency by actually trying. u.s. regulators the frozen the assets of unnamed investors who shares russian jews group done just before pepsico announces takeover bid one of the news a swiss bank account to buy four hundred thousand american depository receipts which are a proxy for wimbledon's shares of the new york stock exchange it's illegal in most developed markets to use insulin for made. to profit from moves and share prices last july russia adopts a law against insider trading there regulates the still working out how to enforce it involved and a.t.l. twenty eight percent in new york last week that would have an unnamed investors a profit of about two point seven million dollars. but if you look at what seem

and in winter sports finally thomas morgan stanley cup to his wealth of leaders status baling by winning the four hills open in germany the final ski jumping about of the year mortgage down costing the best down. so in both trials to secure the top spot ahead of them one's might say how to make and fellow australian mon-el fact that many here will take forward a massive advantage to the second for the els about the garmisch park and here have scheduled for january first. that's all this fall for the moment you can also watch some of those stories about our you tube channel which is r t sports news and coming up shortly as the weather .

russia was bucking the trend this hour with the my six exhaust investment banks credit suisse morgan stanley to value the ts as it buys a merger of moscow's two million balls is stocks have stabilized off the crude fell one percent to one hundred eighty eight dollars a barrel it comes as america reports rising gasoline imbed trees telecom is the top loser on them i say shares down around three quarters of a percent. point four percent blue color is nearly opposite. of slump thirty five percent for the first nine months of the year came in at around one billion dollars the company blames rising costs pushed by higher export duties taxes as well as losses from currency exchange. now some has bought australian uranium producer mantra for more than one billion dollars russia's nuclear holding is expanding its interest to supply reactors it's building in countries such as china india and turkey currently control forty percent of the global uranium enrichment market. staying with energy countries operating the caspian oil pipeline from kazakhstan to the russian black sea ports are doubling the cap

food sectors leading the gains prudential is up one and a half percent after it was upgraded by morgan stanley. here in moscow to boyce's a mixed day evening trading with reality is gaining and the miser sliding into the red nor as critical is the biggest winner on the r.t.s. up nearly one over a one off percentage bucking the trend is shedding point six percent careful shares have dropped four point three percent on news of a stake sale more about that in a moment. russian markets began the week strongly after last fight is rally on the back of the successful world cup bid but slowed by midweek mainly due to profit taking john hazel from citi bank recaps that week. the most exchange for the most part this week is flat the index because i think the incredible enthusiasm we saw last friday last friday's trading after the after russia won the world cup bid for twenty eight teams a lot of died out throughout the week there's profit taking sarah so the only real the main events this week was with x five final e-mails in the acquisition of paper that acquisition looked to be done a pretty much. you

world the my six had a late spurt to close in the block itself divestment banks credit suisse and morgan stanley to value the r.t.s. ahead of a potential merger of moscow's two main courses some energy stocks lost further growth today gazprom. almost two percent roys in u.s. fuel stockpiles pushed light sweet eighty eight dollars a barrel. for the second largest bank p.t.b. meanwhile says it could buy a controlling stake in bank of moscow which is the country's fifth largest in the first half of next year the deal will become thirteenth purchase in the last year's . election when used russian industrial production rose six point seven percent in november beating for costs but the economics ministry has cut its full year expectations for g.d.p. growth from four percent to three point eight despite saying it now thinks the average price will be higher than previously thought at seventy seven dollars fifty cents that's the latest you can always find more stories on our website that's complex business. the. wealthy british style. has moved on to the splits because. of the. markets why not. find out

bank credit suisse and morgan stanley. yes and of a potential merger of moscow's says. some energy stocks lost for the ground gluco with almost a percent of the roys in u.s. fuel stockpiles push light sweet eighty eight dollars a barrel. plus the second largest bank says it could buy a controlling stake in bank of moscow which is the country's fifth largest lender in the first half of next year the deal will become v.t.c. thirteenth purchase in recent years. in economic news the russian industrial production rose six point seven percent in november beating forecasts but the economics ministry has cut its full year expectations for g.d.p. growth from four percent to three point eight despite saying it now thinks the average price will be higher than previously thought at seventy seven dollars and fifty cents. is business to join me in fifteen minutes or more. hungry for the full story we've got it first hand the biggest issues get a human voice face to face with the news maker. chosen from among many. he was given a clear cut mission. a mission he successfully accomplish

stock markets the my six had a late spurt to close in like the basement but it's pretty sweet and morgan stanley to value the ts ahead of a potential merger of moscow's two my boss's. energy stocks most of the ground from almost a percent roi is in u.s. fuel stockpiles pushed light sweet eighty eight dollars a barrel. on a new russia second oldest says it could buy a controlling stake in bank of moscow which is the country's fifth largest in the first half of next year the deal will become thirteenth purchase in the last years . russian induct group production rose six point seven percent in november beating for costs but the economy ministry has cut its full year expectations for g.d.p. growth from four to three point eight percent despite saying it now thinks the average price will be higher than previously thought at seventy seven dollars fifty cents. that's the latest you can find more stories on our website dot com slash business. wealthy british scientists. sometimes the type of. market why not come to. find out what's really happening to the global economy with mike's cancer for a no hold

downhill in the last hour in amman a news that my six result investment banks credit suisse and morgan stanley to value the r.t.s. as it was the merger of moscow's two main bourses. energy stocks have lost ground in the last moments with swinging into the red it comes as u.s. fuel stockpiles grow sending light sweet on the eighty eight dollars a barrel. profit or major tightness of slumped over a third for the first nine months of the year came in at around one billion dollars company blames rising costs export duties and taxes as well as losses from currency exchange. countries operating the caspian oil pipeline from kazakhstan to russia's black sea doubling capacity russia and kazakhstan have signed a deal to invest five point four billion dollars deliveries to sixty seven million tonnes of oil a year project shareholders including chevron show any say they hope to boost exports staying in the energy sector ross at some has bought australia new raney and produce a mantra for over a billion dollars russia's manufacture of nuclear reactors is expanding in countries like china india and turkey

russia's losing ground the selling emanate use the my six off investment banks credit suisse and morgan stanley to value the r.t.s. as it is a merger of moscow's two label says. energy stocks have lost ground in the last moments because the swing into the red it comes as u.s. will grow sending light sweet on the eighty eight dollars a barrel. that's all we've got time for this hour to join us in fifteen minutes. wealthy british style. sometimes. target. markets why not scandals. find out what's really happening to the global economy in the cause a report on. line in russia would be so much brighter if you knew about someone from phones to impressions. please for instance on t.v. dot com. in india in the movie the joint the hotel's t.l.v. lets the gateway photo the brand imperial trying to talk western coast coromandel new kind of let her tell the closeness giotto says don't need to go and. read the some of the kennel was her job as risk or treat. live from moscow this is your headlines now because of those a prime minister who is accused of having being. in the trafficking of human organs the s

investment banks credit suisse and morgan stanley to value the r.t.s. ahead of a potential merger of moscow's two main bourses. energy stocks most of the ground from almost a percent a rise in u.s. fuel stockpiles pushed light sweet on the eighty eight dollars a barrel. the news was a signal just as it could buy a controlling stake in bank of moscow which is the country's fifth largest in the first half of next year the deal will become. thirteenth purchase in the last years . of russian dogs through production rose six point seven percent in november beating for costs but the economy ministry has cut its for your expectations for g.d.p. growth from four to three point eight percent that's despite saying it now thinks the average price will be higher than previously thought at seventy seven dollars fifty cents. that's the latest you can find more stories on our web site that's already dot com slash business. they live not only next to the border of the gaza strip and egypt but also on the border of peace and war. they are responsible not only for themse

turns out, 21,000 transactions-- to financial firms, including citigroup, morgan stanley, goldman sachs; to major industrials companies, including g.e.; and even to foreign banks, including the bank of england. most all of the loans have been paid back. but it was a historic transfusion of cash in a global system that was bleeding to death. we asked bernanke what would have happened if the fed hadn't acted. what would unemployment be today? >> bernanke: unemployment would be much, much higher. it might be something like it was in the depression-- 25%. we saw what happened when one or two large financial firms came close to failure or to failure. imagine if ten or 12 or 15 firms had... had failed, which is where we almost were in the fall of 2008. it would have brought down the entire global financial system, and it would have had enormous implications, very long-lasting implications for the global economy, not just the u.s. economy. >> pelley: but it's also true that the fed was the regulatory watchdog of the largest banks when crazy lending led the world to crisis. is there anything th

>> jpmorgan, morgan stanley, goldman sachs, deutsche bank, see great opportunity in china because the chinese don't know how to bank. they don't care whether america has jobs, they care about profits. all the growth we have had in this recovery has gone into banking profits. half has gone into bonuses for a handful of people that work on wall street. despite the fact that the economy is growing see our wages go down. they are really lucky that hardware stores in manhattan don't sell pitchforks anymore, those gritz aristocracy from the old french revolution. >> town look though you are talking about incredibly powerful interests that would be disrupted by engaging on trade policy and banking policy, how much of a disruption would it to be a caterpillar to a jpmorgan, if the government was to step in and say we are going to make the banks smaller, going to tax the chinese currency subsidy? are we in fantasy land to think we could engage these things without a disruns that is so big somebody like barack obama doesn't want to deal with it? >> look at franklin roosevelt are. no one believe

according to new data from morgan stanley this bill could boost economic growth to 4% or more next year is better than the anemic 2% achieved in the third quarter this year. ironically, some commentators argue this economic growth will benefit president obama's reelection prospects and therefore should be opposed. that is not clear thinking. some other conservatives say we should wait until next year to pass tax legislation, than the gop house could pass a better bill than this one. that is true from my perspective but no guarantee the senate or house or white house would go along with such a bill or we could get a better compromise in the end. in the meantime, every taxpayer would be hit with tax increase in the first paycheck of the new year and for many weeks thereafter. tax increases would certainly hurt the economy. look back at 1936 when president roosevelt raised taxes on high earners. the shaky economy plunged back to depression and unemployment skyrocketed. freezing tax rates has the potential to help the economy and job growth. some on the liberal left think tax provisions in

morgan stanley received nearly $2 trillion. citigroup received 1.8 trillion.bear stearns received nearly a trillion. merrill lynch received $1.5 trillion in loans from the fed. what is most surprising for the american people is not just the bailout of wall street and the financial institutions and the bailout of large american corporations, like general electric, but i think the american people would find it very strange that at a time when the american automobile sector was on the verge of collapse, and goodness only knows how many thousands and thousands of jobs we have lost in automobile manufacturing in this country -- that the federal reserve was also bailing out toyota and mitsubishi, two japanese carmakers, by purchasing $5 billion worth of their commercial paper, from november 5, 2008 to january 30, 2009. while virtually no american-made cars or products of any kind of bought in japan, i think the american people would be shocked to learn the fed extended over $380 billion to the central bank of japan, to bail out banks in that country. furthermore, i

morgan stanley received nearly $2 trillion. citigroup received $1.8 trillion. bear stearns received nearly $1 trillion. and merrell lynch received some $1.5 trillion in short-term loans from the fed. but i think what is most surprising for the american people is not just the bailout of wall street and the financial institutions and the bailout of large american corporations like general electric, but i think the american people would find it very strange that at a time when the american automobile sector was on the verge of collapse -- and goodness only knows how many thousands and thousands of jobs we have lost in automobile manufacturing in this country -- that the federal reserve was also bailing out tai yow at that and mitsubishi, two japanese carmakers, by purchasing nearly $5 billion worth of their commercial paper. from november 5, 2008 through january 30, 2009. while virtually no american-made cars or products of any kind are bought in japan, i think the american people would be shocked to learn that the fed extended over $380 billion to the central ban

biggest recipients, merrill lynch, citigroup and morgan stanley. foreign banks, too.bs and uk's barclay. harley davidson, mcdonald's, general electric, caterpillar. christine romans, my co-host, joins me from new york. we reported on this at the time. we didn't know where the money was going. we reported a major change for the first time ever in the history of the federal reserve, they had announced they will be the banker of last resort. if companies need much and the credit markets have frozen up, because when mcdonald's and ge need money they don't walk to the local bank and ask for a loan. it has to map in this international credit market. it wasn't happening. the fed became the banker of last resort. >> not just the central banks of the united states, the u.s. central bank, became the central bank to the world. look at barclay's enand ubs. this is a fed more aggressive than we've ever seen. we've never seen a central bank take on such responsibility. the fed would say we averted a great depression because the fed was moving quickly getting an awful lot of money i

firm with 1 1/2 trillion dollars up there, they say we're going to have 3 1/2% growth next year, morgan stanley says the same thing, goldman sachs, the same thing. they're all looking at a stronger economy in 20 # one. a complete reversal of what we've seen for the last three years. bill: let's get to yt in all this. is this the natural flow of the cycle, or has something fundamentally changed? >> well, it you read the tea leaves, retail sales, that kind of indicator, they are beginning to pick up. then you've got the results of november's election, which suggested a change in economic policy, and a change in the politics of the country, private enterprise likes that, and they have more confidence restored and thirdly, you've got the tax deal, which is very likely to pass. meaning nobody's taxes go up on january 1st. that's a plus for the economy. bill: i can remember september 2008, you and me together. >> yeah, yeah. bill: those were low days. >> that was the panic of '08 and it got worse for the economy right after that, but this is a genuine turnaround, bill. bill: stuart, thank you. and co

and you got morgan stanley and merrill lynch and bank america, these key institutions. these institutions were solvent in many cases, but needed help because so much of the short- term borrowing upon which wall street realize and upon which the economy relies to pay its bills had frozen up. you had issuers of short-term corporate funds that companies use to make payroll. these were private companies like mcdonald's or harley- davidson or caterpillar coming into the fed to help keep that critical market for four -- for short-term financing going. host: one of the programs that was administered by the fed bank of new york, the tlaf program, it seems to me is the sub heading for the story in today's story in the "new york times" and it talk about money being moved from one sector to the other to stabilize the economy. here is what i want to rescue. one company that tapped into the fed was general electric, correct? guest: yes. host: if you look at the bank of new york, jeffrey yemola is one of the heads that serves on that bank board. what are all the connections about her

in fact, according for group ne% data from morgan stanley this can boost economic growth to 4% or more nextr. year. that's a lot better than the 2% anemic 2% achieved in the third quarter of this year. ironically, some commentators argue this economic growth will benefit president obama reelection prospects and therefore should beor opposed. that is not clear thinking. some other conservatives say if tax l we wegait until next year to pao tax legislation, then the gophis controlled house could pass a better bill than this one. that's true from my perspectiveo could -- such a bill or that we could get a better compromise in the end. in the meantime every taxpayer would have been hit with a tax increase. tax increases would almost certainly hurt the economy. look back to 1936, for example, when president roosevelt raised taxes on high earners. the shaky economy plunged back into depression and unemployment skyrocketed. freezing tax rates, on the other hand, has the potential to help the economy and job growth. the economy and job growth. tax provisions in this bill should implement their

in fact, according to new data from morgan stanley this bill can boost economic growth to 4% or morenext year. that's a lot better than the anemic 2% achieved in the third quarter of this year. ironically, some commentators have argued this economic growth will benefit president obama's reelection prospects and, therefore, should be opposed. that's not clear thinking. some other conservatives say if we wait until next year to pass tax legislation then the g.o.p.-controlled house could pass a better bill than this one. that's true from my perspective, but there's no guarantee that the senate or the house -- the white house rather, would go along with such bail or that we could -- such a bill or that we could get a better compromise in the end. in the meantime every taxpayer would have been hit with a tax increase. tax increases would almost certainly hurt the economy. look back to 1936, for example, when president roosevelt raised taxes on high earners. the shaky economy plunged back into depression and unemployment skyrocketed. freezing tax rates, on the other hand, has the potential