mr. wheeler: there are plenty of risks out there. i was talking to investors about equity capital markets, why they are so weak, given there is a lot of demand to raise capital. they say so many macro concerns that cover not just the banks, but the whole market. i think the european banking market still hasn't got away from the crisis fully. every time it takes a step forward, it has been hit with one or two issues that have taken it back a step. they really have to get clear that were hitting them in 2008 and start to look as strong as their u.s. counterparts, who obviously look a lot healthier. nejra: thank you so much, chris wheeler. great to have you on the program for the second time today, actually, on bloomberg tv. vonnie: let's get to first word news. courtney collins is in the new york newsroom. courtney: the two top republicans in august are having second thoughts about the bill allowing the families of 9/11 victims sue saudi arabia. house speaker paul ryan and senate majority leader mitch mcconnell says the bill could open

mr. wheeler has, i believe, missed opportunities for bipartisan accomplishments. hairman wheeler has used things as a political weapon. we've seen conveniently timed leaks and disclosures used as tools to benefit the partisan agenda. but he skpa spoke earlier this week, i reiterated my call for the fcc to be as transparent as possible, not using the disclosure of nonpublic information as a sword would lead to a better process at the agency which in turn would only improve the commission's work product. while process issues at the fcc may seem to be just a minor transgression that can be chalked up to business as usual in washington, d.c., in this case, it illustrates a divisive leadership approach which threatens to undermine the credibility of the agency now and into the future. this part sanship has been used to do the following things, a complete upending of how the internet is regulated, stripping important consumer protection responsibilities from the federal trade commission, a failed attempt to override states right on knmunicipal bro bad. increasing the siz

mr. wheeler goes to the timeline, the idea of linking strategy into tactical business plans. it is a little more short this morning for selected european banks. this for wheeler, thank you so much. esther purvis, we will continue with the blood try -- bow tie arbitrage. the chief financial officer of commerzbank, stefan angles -- talk about poor performance. we will do that at 7:00. ♪ tom: good morning. francine in london. i am in new york. work it's reacting to news yesterday afternoon on deutsche bank. it is down under 10 euros per share. this morning, doing a little bit better than good in the last two hours. michael purvis -- what a great day to have michael purvis with us. you have done a lot of work on vix, on volatility. how do you dovetail with contagion, the emotion and reality of these movements in banking shares with the all quiet finance front of vix? it seems like two different worlds. you see the deutsche bank price plummet, and then you keep going from there. you look at various signals. one thing it is helpful to look stocks picking up relative to the vix. it i

mr. wheeler, i believe, has missed opportunities for bipartisan accomplishments. chairman wheeler has used the distribution of information as a political weapon. too often we've seen timed leaks and disclosure used as tools to benefit the partisan agenda. when he and i spoke this week i reiterated my call for the fcc to be as transpatient as possible. treating all fairly and not using the public information as a sword would lead to a better process at the agency and in turn improve the product. while product issues may seen as a minor transimmigration, in this case it illustrates a leadership approach which threatens to undermine the credibility of the agency now and into the future. this bipartisanship is used to do a complete upending of how the internet is regulated creating years of how it is used by everyone. and stripping important sfrxt from the [ inaudible ] by billions of dollars while simultaneously upd mining bipartisan efforts to improve the program accountability and the unses and unlawful disclosure of trade secrets and a plan that could be adopted la

just say i've got to ask a question about set top boxes and the answer from chairman wheeler was long and extensive. mr. pine, chairman wheeler's talking points say this. the proposed final rules will allow consumers to access their pay tv content free of apps on ava right of services so they no longer have is to pay monthly rental fees. i think mr. o'reilly said an app centric approach is whaeplted. an able integrated search and content in privacy is at least that much of his talking points accurate. and are there going to be more or fewer set top boxes if this proposal by chairman wheeler goes forward? >> thanks for the question, senator. i wish i could say it were, but i don't think it is. and i know the last point of that, for example, is critical. the protection of content is something that i think a lot of people have focused o. it underscores the importance of making this pertinent. so people can judge for themselves. the proposal would interject the cc in two relationships. regulating the terms they would agree with and the relationship between those and the third-party device manufacturers in

mr. chairman. mayor ch chairman wheeler, thank you. i sent you a letter in june. this letter echoed the concern of 100 state commission thers that by creating a broadband designation, the fcc is effectively eliminating the state's rule in deciding which carriers can offer life line within their borders. this new designation directly contradicts the language of the communications act, which gives states primary responsibility for designating carriers to participate in the federal universal service programs. 12 states, including mine in nebraska, are suing the fcc so it appears to agree. mr. chairman, do you assert that the fcc's recent preemption of the states is lawful? >> thank you, senator. >> nothing that we did changed the existing authority of any state puc. the question that had to be dealt with was how do you determine an atc when for broadband service, that broadband provider is a nationwide provider. unlike a telephone company, not just located in nebraska or wherever and with a relationship with the b.u.c. by national broadband providers that they would

mr. scott was shot by an frsm police officer. for more let's bring in rod wheeler. former d.c. homicide detective. rod duke this is going to satisfy the protesters and lead to answers? >> i hope it does. however i'll tell you that it's been too long. the chief should have actually released that video on friday. the shooting took place on thursday. so the chief should have released that on friday and then he probably would have avoided some of the riot. i think there was going to be some pushback anyway. even with releasing the video tonight there is going to be pushback. some are going to review and think it doesn't show he had a weapon but at the same time the fact of the matter remains he resident leased the video and that is what's important. >> and what about the fact he said it started with marijuana? that's new. and a gun. >> and that's a good question. i'll tell you why. when he said that, i'm thinking to myself throughout the whole interview, the chief doesn't really need to say a whole lot, to be honest. he needs to just show the video. but it was almost like he was de

mr. get underway on the wake aven it's part of the project to put the bridge up over pea street. we're talking about the inside of i-40 east from lake wheeler road to south saunders. the shift was expected to hadden last week. >>> this is quite a story. the coast guard has suspended then yesterday he was found by a freighter drifting on an inflatable life raft. >> we are ecstatic. we are excited. we feel like we're making a difference. we will keep praying and keep putting our positive energies together and hopefully make our way back. >>> the other boater has not been found. as for the 22-year-old, he is expected to be back on dr good condition. >>> authorities have been urging thousands who live in the low lying area of cedar rapids to clear out. it will likely be days before they're able this return home. >> it makes you look at what you have. always, always there to help no matter what. >> the national water service by 23 feet. city workers and volunteers spent days building levees. >>> showers and thunderstorms as we look at live radar back to the west. there's interstate 77, boone we're talking after 10:00 we could get a lot lit of ra

mr. chairman. senator markey, we finally found al gore's lock box. is that it right there? chairman wheeler, as we've discussed before, satellite tv subscribers in la plata and montezuma, southern colorado, currently received new mexico-based broadcasts. they left access to without over the air broadcasting. with significant mountains, denver, front range, durango. both broadcasters and satellite providers continue to engage as they work to deliver colorado tv to all four corners of colorado. congress also worked to address this issue in the 2014 stellar legislation by extending the market modification process to satellite tv. as they crafted the final rules to carry out this provision i, along with senator ben and others, urged the fcc to permit county commissioners to petition for market modification. and i thank you for adopting that option. in light of the rules, the commissioner from la plata and montezuma county have expressed interest in moving forward with the market modification process. dish has indicated that providing colorado television is not infeasible. colorado broadcasters

approach as opposed to on so many issues, chairman wheeler, who has embraced a partisan outcome in this circumstance. >> thank you for the question, mr. chairman. it was rather odd situation, since we seem to have an overwhelming bipartisan majority that the rule in question, the newspaper broadcast cross restriction, which was originally adopted in 1975 had long since out lived its usefulness. the chairman's office told my staff, look, we support getting rid of the restriction, we believe that most members of the commission do, but if any member of the commission objects, then we are not going to support getting rid of the rule. unfortunately, as i pointed out, one office exercised that option, and objected. what i thought was unfortunate was not just that it ended up becoming bad policy, because restrictions should be removed and most people would agree with that, at least behind closed doors at the fcc, but also, just the process is very strange to require unamity, commissioner riley and i have suggested changes or made objections, and those suggestions or objections are either ignored or dismissed out of hand. and so my preferenc