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how will richard shelby vote?at is a good question and i will vote in a few minutes per i have misgivings about it. . like free trade but this is a lot of unanswered questions in the proposal and it gives the president a lot of power. peter: as always, we appreciate it. people in the financial services industry and beyond are very interested. >> absolutely. thanks with less than $500 billion in assets like suntrust, would free them from the most onerous of the oversight proposed. coming up from one deadline to another, greece will clear yet another hurdle as it pays millions to the international monetary fund. the latest when we return. ♪ mark: welcome back. and oneaces deadlines is today. spain posits finance minister is said quoting here, greece passes liquidity situation is getting increasingly, dated. david has more on this story. david: greece's lurching from deadline to deadline as skies over europe get clouded again. a debt to gdp ratio of 180%. they'd hundred $80 million is a lot of money, but a small frac

senator richard shelby. chairman of the senate banking committee. thanks for joining us on fox business. the markup of this bill starts thursday, if i'm correct. >> next thursday. >> next thursday. melissa, back to you. melissa: peter thanks for the interview. >>> talk about a blind side. tom brady suspended four games over "deflategate." fox news's rick leventhal is at nfl headquarters in new york city. rick this is a big one. much more than expected. >> absolutely. the patriots fined a million dollars and they lose a couple of draft picks. the league says it is all about maintaining and protecting integrity of the game and tom brady was not fully candid with investigators. he didn't share his e names and texts. nfl obviously making a statement with this punishment especially considering brady one of the biggest stars in the game, four-time super bowl champ and three-time mvp. the league found two patriots employees, locker ream attendant and equipment assistant intentionally deflated footals after they were inspected by referees but before kickoff

-- soundbite from richard shelby but everybody can go to bloomberg.com and watch it.back talking about wall street about yesterday's big announcement. ♪ olivia: five of the world's biggest banks a great to plead guilty in the currency breaking probe that there were still some in the industry who were fired up about it. >> this is a bad day for american finance. >> a guilty plea for a financial institution, this is the first time you had citigroup, jpmorgan or any u.s. bank plead guilty essentially, to criminal conduct. >> that affects your funding rates, your credit spread, your client relationships. there are a lot of the sale guys on the phone trying to explain. >> citigroup's press release says they are embarrassed. they should've been embarrassed back in 2001 and 2002 and throughout the course of the past decade of the actions they had taken. olivia: i wanted to bring in jerry geither who was with us during many of those conversations and throughout our coverage of the fines here at bloomberg tv. clearly, two of the smartest guys we could possibly call on banking,

mark: senator richard shelby bank reform act a work in progress. the chairman may unveil his bill today. it would remove some of the tougher restrictions from small and medium-sized banks. it would also revise congressional scrutiny of the federal reserve. betty: there is a shortage of barrels that are used to age the booze. they're all makers cannot find enough oak. the industry has not recovered cash.he bourbon sales are up 35%. hoardingu have people bourbon in their basement. mark: the golden state warriors rebound. they tied their western conference semi finals 2-2. game five is wednesday and golden state. those are some of the top stories we are following on this tuesday. betty: coming up in the next half hour, what do investors need to look out for in 2016? advice from the blackstone group? mark: what does the largest u.s. carrier hope to get out of the deal? etty: finn janice capital. why he didn't retire, go way to the beach. you will have a preview of an exclusive interview. government bonds sold off continuing this decline. many investors

if senate banking chairman richard shelby has his way, banks would no longer be too big to fail.or shelby wants to free those banks from the tough oversight capital requirements now apply to the nation's largest lenders. shelby is about to propose the biggest changes to the dodd-frank format since it was passed in 2010. among the banks that would be affected, u.s. bancorp and suntrust banks. brendan: the world's largest maker of agrochemicals -- significant execution risks. the combination of syngenta and monsanto would dominate. alex rodriguez has now over past -- the next is babe ruth. he is in fourth place on the all-time home run list. babe ruth's mark may be a stretch to reach this season. rodriguez needs 54 home runs to tie. now to our baseball correspondent tom keene. tom: how many asterisks are needed? olivia: i think he is tied for fifth all-time home run. look, i love a-rod. you will not get an impartial for me. tom: the only good news -- the red sox fired their pitching coach. two americas, perhaps three with a part of america something not in our economic discussion.

markups to dodd frank and the bill being put forth by the chairman of the senate finance committee, richard shelbyk you for your patience. i wanted to talk about something that happened today. reported that in the first quarter, profits and community banks were nearly $5 billion. that is a 16% increase year-over-year. where is that strength coming from given that you and your organization claimed to have been overburdened in some instances harmed by excessive regulatory environment? >> an excellent question. joke,inds me of the old compared to what? 16% sounds pretty robust year-over-year. look at the years we are comparing it to. we had the worst financial crisis in almost a century. our banks are digging out from that crisis. if you go back to the mid-1990's or the first few years of this century, those figures that were posted today are still below the performance figures of 15-20 years ago. you have to ask, compared to what? the main street recovery has been slower than any other crisis, particularly since world war ii. know, there were two open seats at the fence board of governors. is it imp

the senate ranking committee richard shelby has committed changes -- has proposed changes including oversight of the new york fed and a new commission with authority over the entire fed system and also regulatory relief or some banks. joining us on the phone from capitol hill with more details, chris condon. tell us what exactly is the proposal? iris: a couple of things would put my finger on right away. the first thing is what the bill did with regards to the fed when it says not include and that is interesting. there is no interference with the independence of the monetary policy setting of the fed -- the way the fed sets interest rates and in terms of independence in setting those. the second thing i would note is there are some subtle shifts of power away from the fed board, those are the governors who work in washington, appointed by the president and confirmed by the senate. there is a shift in power from them to the wider federal open market committee which includes the regional debt bank presidents. chris, give us any estimate based on what you know about janet yellen and what her pos

richard shelby calls his proposed revamp of the dodd-frank reform act a work in progress.an of the senate banking committee may unveil his bill today to remove some of the tougher restrictions from small and medium-sized next. it will also increased scrutiny of the federal reserve. the parent company of the giant and food lion circa markets are in merger talks. if they actually merge, they will create the fifth largest supermarket chain here in the u.s. in europe. both companies say that talks are preliminary and may not result in a deal. russia may have between 8000 and 10,000 soldiers in ukraine. that is according to reports from the slain opposition forts. dollars for the pro-russian support and insurgency. they could prepare for new whilee and -- offensive vladimir putin denies. closing hearings in the boston marathon bombing trial. they will decide whether he will be jailed for life were executed. the last of witnesses was a death penalty opponent. she said that johansen knives said he was sorry for his crimes. a watchdog group says chris christie spent thousands of d

pimm: senator richard shelby causes proposed revamp a work in progress. the chairman of the senate banking committee may unveil his bill today and it would remove some of the tougher restrictions from small and medium-sized banks. it would also increase congressional scrutiny of the federal reserve. said it is hard to get used to what is happening in the bond market. earlier on bloomberg tv, the chairman of blackstone group talked about the european central banks stimulus program and its affect on bond yields. hadt means that you relatively fragile markets with giant fire called the ecb. they were busy buying and that drives yields to unrealistically low levels. the idea that you pay somebody interest who issues a bond, i mean, as the buyer, the bond is actually sort of, you know, almost completely unprecedented. right, unprecedented. meanwhile, financial markets are in for iraqi regime shift when the federal reserve starts raising rates. that is according to new york fed president. butey says the first rate for the federal reserve since 2006 is going to

. >> back to dodd-frank, richard shelby availing new legislation, that would provide the biggest changesl services since dodd-frank. peter barnes sat down with the senator is joining us. >> this would be the biggest piece of banking ledge like since dodd-frank financial reform in 2010. dodd-frank supporters say it helps to make sure taxpayers will never have to bailout big banks again. but some critics say it went too far. senator shelby said his bill would fix some of these problem and help customers save money. >> we're trying to give relief to the small and reasonable banks, they didn't cause systemic risk to the economy. secondly they are over burdens with regulation, trying to lift that burden, which costs a lot of money. >> will this bill, save money for consumers? >> absolutely, because everything is passed on to the consumer if the smaller banks have less overhead, having to comply with rules that should not have been put on them, it will be more profits for them, and less cost to the consumer. >> and last question, what are the changes you make in most gang area? >> -- in most m

richard shelby is the chairman of the banking, housing and urban affairs committee.dents want and then we have the ceo and chairman of wells fargo talking about housing and whether or not it's easier now to get a mortgage than it was during the throws of recession. >> show starts in about 12 minutes. you would be foolish to miss it. >> thank you. >> right here on the fox newschannel. to find maria on the fox business channel go to fox business.com/channel finder to see her during the week. >> you can join us for grilling if you like because coming up we'll be grilling this memorial day. food network star and air force vet is at the grill with those details coming up next. ♪ i'm louis, and i quit smoking with chantix. i told myself for so long that i needed to quit smoking. i would quit then i'd go right back to it. chantix absolutely helped me quit smoking. along with support, chantix (varenicline) is proven to help people quit smoking. chantix helped reduce my urge to smoke. some people had changes in behavior, thinking or mood hostility, agitation, depressed mood a

. >> a drill being drafted by richard shelby reportedly proposes several changes to the federal reserve system. the bill is expected to be unveiled later today. it would require the fomc to deliver a quarterly report on monetary policy to congress. it would also require janet yellen to stand in as vice chair of supervision, a position created by the dodd frank financial reform law yet to be filled by the white house. >> it's seen as the first hurdle toward completing the multi-tier partnership. it is amid growing resistance from his own party and lobby groups that say the plan is a give away for big business. >> with china sitting out of the partnership some suggest the trade deal marks a pivot toward other asian trading partners. julia caught up with hank paulson and asked for his views on president obama's dealings with beijing. >> let me say two things i am by and large quite positive of the way the obama administration has handled the relationship with china. they have done a number of positive things including this very historic climate change agreement. the one issue i have been c

richard shelby will reportedly introduce a bill today that will increase congressional scrutiny of the see what that all means. >> gotten bad in this country, but still worst in europe. >>> a number of catalysts make waves between the passing of greece's latest payment deadline and a crucial read on retail in the u.s. let's get a sense of what this means for u.s. markets. good to see you. >> thank you very much for having me and i love the new studio on the west coast. >> great thank you. and you're up early. stock markets struggled to go anywhere recently and bond yields struggled. what do you think? >> i think the two are related. if you go back to friday. what we saw with the payroll numbers. it's a continuation of what we're seeing trendless volatility. they're good enough for the fed, probably, to tighten. but not great enough for us to get excited about the u.s. recovery expansion going forward. this is a time when investors are better off in strategies that are contrarrian that just aren't trying to chase the latest trend that worked over the last couple of months. >> we had a g