mr. deutsche comes he'll give his five minutes. mr. connolly is recognized. >> thank you, madam chairman, thank you for having the hearing. in listening to the resuscitation just now of what happened in yemen and what happened in syria, one would, i guess, iner if or one is meant to iner if that it's all the problem and result of policies pursued or not pursued by president obama and his administration. nothing could be further from the truth. the inherent instability in yemen is not new. and it certainly is not unique to the administration currently in power. yemen is inherently unstable. it has multiple militia forces and jihadist forces at work. towns have been taken and retain and transferred. terrorism and brutality have occurred. and we may very well, there are our movements to bifurcate the country as it once was. the instability in the region is not the fault or responsibility of any administration. our question really has to be how do we respond when there are no good options? how do we do the least harm? how do we try however

mr. deutsche comes he'll give his five minutes. mr. connolly is recognized. >> thank you madam chairman, thank you for having the hearing. in listening to the resuscitation just now of what happened in yemen and what happened in syria one would, i guess, iner if or one is meant to iner if that it's all the problem and result of policies pursued or not pursued by president obama and his administration. nothing could be further from the truth. the inherent instability in yemen is not new. and it certainly is not unique to the administration currently in power. yemen is inherently unstable. it has multiple militia forces and jihadist forces at work. towns have been taken and retain and transferred. terrorism and brutality have occurred. and we may very well, there are our movements to bifurcate the country as it once was. the instability in the region is not the fault or responsibility of any administration. our question really has to be how do we respond when there are no good options? how do we do the least harm? how do we try however i

mr. deutsch? >> one more question also. with the coalition focused as it is on the houthis, and since we lost at least for now our counter terrorism partner in the yemeni government and military, is there -- what pressure is there, to the extent there is any, on al qaeda and isis as well? >> we of course to the extent we can, it is more limited now, to the extent that we can we will continue to engage aqap unilaterally in order to try to disrupt or defeat any threats against us. when secretary was in the region, it was an issue we raised with the saudis in particular and urged them as part of their effort to go after aqap targets as well as other targets so we can continue the pressure. >> can you tell us how that was received? >> they agree because aqap is a direct threat to their security too. >> have we seen that happen? >> i can't say for certain, a, whether we have given any targets to go after, whether they have been effective in servicing those. >> thank you. >> thank you so much mr. deutsch. dr. yoho. >> thank you m

mr. deutsche after the minutes with his con sent. we'll go to mr. higgins of new york. >> thank you madam chair for holding this important hearing. you know, another trouble spot in a region that is -- that has pervasive trouble. there are no good options here for the united states. obviously, we have a great interest in trying to influence stabilization in that region. so i'm very curious to hear the thoughts of our distinguished panelists today. additionally, it was announced that the u.n. security council imposed an arms embargo on the hoothie fighters. and that resolution which is legally binlding pro hiblts the sale of weapons to three named hoothie leaders former president and its son. i'm curious as to what if any impact that resolution will have relative to the die namic that is going on in gem enright now. thank you very much for being here. >> thank you sir. excellent question. mr. wilson of south carolina. >> thank you madam chair. thank you for your leader ship on this issue. ambassador, i just can't imagine a more extraordinary time for

mr. deutsche. mr. wilson of south carolina. >> again, thank you mr. secretary. and i appreciate you and i have something in common in that i have two sons who served in iraq. one is a physician and another is field artillery and i know that you've had a son serve there. and then with your background, what a distinguished background. as i stated from the beginning, i'm just so hopeful for your success. i believe sadly, that as a safe havens are created throughout that region and into central asia and north africa that the american people are at risk. and so we want you to succeed. and with that in mind, and you referenced it a minute ago, and that is that what impact do you believe that administration's nuclear negotiations with the regime in tehran have had with the support of the iranian government to be provided to the hoothies? >> thank you very much, congressman wilson for your kind words. in terms of the relationship or any correlation between the nuclear talks and the situation in yemen or more broadly in the region i think that our perspective is that --

mr. deutsch. mr. wilson of south carolina. >> again, thank you, mr. secretary. and i appreciate, too, you and i have something in common in that i have two sons who've served in iraq. one is a physician and another is field artillery. and i know that you've had a son serve there. and then with your background, what a distinguished background. as i stated from the beginning, i'm just so hopeful for your success. i believe, sadly, that as safe havens are created throughout that region and into central asia and north africa that the american people are at risk. and so we want you to succeed. and with that in mind, and you referenced it a minute ago, and that is that what impact do you believe the administration's nuclear negotiations with the regime in tehran have had with the support of the iranian government to be provided to the houthi? >> thank you very much, congressman wilson, for your kind words. in terms of the relationship or any correlation between the nuclear talks and the situation in yemen or more broadly in the region, i think that our perspective is

mr. deutsch. >> thank you, mr. chairman. i wanted to continue this line of questions about the shia and iran and sistani's popular mobilization forces. i want to actually start with the news about our strikes in tikrit. the coverage in "the new york times" today included a paragraph that said, if the americans did not engage, they feared becoming marginalized by tehran, in a country which they had spilled much blood in the last decade the official said speaking on condition of anonymity. is -- if you could speak to the strikes in tikrit, the air support that the united states is providing, is it different than the support we have provided in the past? and is it being offered in part because there were concerns about being marginalized by the iranians? and in answering that question it gets to the broader point of the, again, same article, the preponderance of the 30,000 fighters on the iraqi side members of the militias fighting alongside the iraqi soldiers and policemen. of those 30,000, how do we

mr. deutsch of florida, the ranking member is recognized. >> thank you, madam chairman. mr. ambassador, you mentioned you just got back from the region and you don't think -- you don't think the saudis see this campaign as an open-ended one. do they think there's a military solution? you had said that they don't have plans to launch a ground war. do you envision the situation in which saudi or coalition ground troops would go in? >> under the current set of circumstances, no. they are looking at various scenarios. but they've been very clear with us that that's not where they want to go. and the history in yemen is not favorable for foreign ground forces. and i think that the saudis are well aware of that. i do believe and based on the conversations that we have, the saudis do not believe that there's a military solution to this conflict. they understand as we do that ultimately the only solution is to bring the parties back to the negotiating table and their intent is to try to demonstrate through their current military activities that a military solution on the part of the

mr. diamond: did i ever see myself wanting to retire no. erik: it was not your chance to leave barclays. the circumstances are similar to anshu jain at deutscheanshu is one of the best executives in financial services, full stop. in the u.k. there's a challenge today that has been going on for five or six years, what is the role of the larger banks in the u.k.? we are seeing that in ways beyond barclays with the challenges facing hsbc and standard chartered as well. erik: thank you very much. bob diamond of atlas merchant capital. formerly of barclays. from the milken conference. betty: thank you so much. eric and stephanie. in two minutes, a deeper dive into twitter. reporting results after the close today. ♪ betty: twitter is the latest in a string of tech companies to report results. we heard from a lot last week. the report could reveal whether a string of products would equate to a gain in their user base and more engagement. monthly active users expanded 20% last quarter to 288 million a slower rate than the third quarter 23% rise. paul covers technology. we were just talking, what about periscope? that was a new product. paul: it got a

professor brad hintz at the challenges that deutsche bank faces. we will speak to mr. the uproar over the committee in this hour. olivia: president obama and japan's prime minister are meeting today to talk trade, but obama played tour guide before getting down to business will stop you took able to the lincoln memorial where they looked at the gettysburg address etched on the -- down to business. president obama took abe to the lincoln memorial, where they looked at the gettysburg address etched on the marble. peter cook, this is the first time a japanese leader will address a joint section the session of congress will stop why does this matter so much? peter: they are rolling out the red carpet for shinzo abe. this is to highlight the economic ties and to bolster defense ties between these two countries as a counterweight to china. both sides are saying this is not intended to send a direct message to china. simply to enhance the relationship that has been built up between these two countries over the years. it is pretty clear what is at stake. they will talk of the

deutsche bank. our hans nichols in conversation with mr. jay. these are game-changing announcements.greece truly on life support. all this morning as well. i get in a million research reports. again, we protect the copyright of all of our guests. i'm particularly going to protect the copyright of bank of america lynch lunch's a.j. what is modern and what is the final outcome of capitalism? some would suggest a gathering of wealth, future income. forget about that. kapur writes on what rich middle class and indeed the poor did with their money. they spend it on their vanity, from swiss watches to that first pair of sunglasses. we earned and spend absolutely terrific, fantastic report. what is the outcome of this for investors? what does it signal to investors? guest: any sector, any scene where you get earnings growth, people are willing to pay a premium for. for an investor, for the world as a whole global vanity capital stocks have been compounding about 2% for the last decade. tom: this is not gucci, it's much broader. guest: that's the thing. this is a market, which would make it

mr. jain for being realistic. but what about georgia banks investors? -- deutsche bank investors echoed a 10% return is not that good on capital. it could take deutsche bank years to get there. stephanie: and what if they said take a high? hans: i guess the dancer would be that they really need to get to a better ratio and they have a different regulatory environment. yes, they want to be one of the last investment banks standing. in some ways, they are confident they will be able to do this with a pared down investment bank, with a focus on high net worth individuals and private banking, and then have a little bit in the retail sector just for deposits. but in some ways, they look at the competition with their european pairs -- peers and they are confident. it is somewhat different than what their u.s. peers are doing. erik: hans nichols, thank you so much. stephanie: i wonder, is there a giant dumpster somewhere where all of these bank ceos put their marketing materials when they all decided to be one bank for every product across all asset craft -- all asset cla

deutsche bank looking at a libor settlement. gm with a nuanced quarter. they boom in new -- in north america. mr. zuckerberg, he is investing.expense? we will talk about that. this is important. we look at america's projection abroad. it starts with legacy. thomas jefferson, james madison. secretaries of state, president obama they have defined a new american order. is this secretary of state now like it was 10 years or 20 years ago. >> i think president obama has made a big priority to increase his profile. he picked two people known for having run for president. secretary jake cake -- secretary clinton's was treated like a rock star. that was a big part of it. tom: what of other secretaries of state will do with the future? >> one thing clinton prioritized was commercial diplomacy, going out there. that has stayed on during secretary kerry. the question is trying to promote u.s. companies overseas. olivia: what is her legacy with the voters? >> business will not forget it. whether or not she will be elected, she is the democratic nominee. the biggest news today is because of concerns about the tax returns of the clinton fo

mr. lasky's shop, in part because he's been pushing a harder bargain. if the bank is chartered in the state of new york, lasky then has jurisdiction. tilde amount deutscheank has spent 7.1 billion euros. that is how much their legal costs have been. a lot of money. there's still some other cases out there. jonathan: hans, a lot of money has been put aside. on the libor side of things, this is the u.s. and u.k. authorities. hans: we still have that currency probe. we did have a few banks that settled. that came to a total of $3.4 billion. we still don't know if deutsche bank are going to be ensnared in the iran sanctions violation. when we had bnp paribas, they paid iran, cuba, and sedan. they had a $9 billion sediment. this is getting there on the libor front, but we have to class through the foreign currency exchange. we don't have estimates on how much that will cost. jonathan: hans nichols, thank you very much. let's keep it on the banking sector. you hear about currency vines libor, tax evasion as well. hsbc is thought to pay one billion euros after being charged in a french probe about tax evasion. stephen morris joins us now for a little bit more.

mr. deutsche comes he'll give his five minutes. mr. connolly is recognized. >> thank you madam chairman, thank you for having the hearing. in listening to the resuscitation just now of what happened in yemen and what happened in syria one would, i guess, iner if or one is meant to iner if that it's all the problem and result of policies pursued or not pursued by president obama and his administration. nothing could be further from the truth. the inherent instability in yemen is not new. and it certainly is not unique to the administration currently in power. yemen is inherently unstable. it has multiple militia forces and jihadist forces at work. towns have been taken and retain and transferred. terrorism and brutality have occurred. and we may very well, there are our movements to bifurcate the country as it once was. the instability in the region is not the fault or responsibility of any administration. our question really has to be how do we respond when there are no good options? how do we do the least harm? how do we try however i