from the government and they freak out people that have been like you have at the international security exchange and nodal exchange to have this experience you know put the compliance guy on it get it done when can you get it done all those you have to do what you have to do have to now and we also saw a coin base being asked by the i.r.s. last year about getting the names of their investors you do have to pay taxes on the profits you made on crypto and we boars only ask if we thank you again for being here appreciate you being in studio pleasure to be here but thanks so much see a next time. to sell the largest second largest aluminum company in the world located in russia could be catching a break from the trumpet ministration the aluminum industry giant which has been hit hard by u.s. sanctions has been given an additional month to change its ownership structure which in turn may greatly reduce the restrictions on the firm artie's alex mahela which joins us from toronto with the latest alex thank you for you and you're so great it filling us in on all these myriad issues but we're talking abo

from the government and they freak out people that have been like you have at the international security exchange and nodal exchange. asia have this experience you know put the compliance guy on it get it done when can you get it done all those you have to do what you have to do have to do now and we also saw a coin base being asked by the i.r.s. last year about getting the names of their investors you do have to pay taxes on the profits you made on crypto and we boars iliescu we thank you again for being here appreciate you being in studio pleasure to be here but thank you much see you next time. to sell the largest second largest aluminum company in the world located in russia could be catching a break from the trumpet ministration the aluminum industry giant which has been hit hard by u.s. sanctions has been given an additional month to change its ownership structure which in turn may greatly reduce the restrictions on the firm artie's alex mahela which joins us from toronto with the latest alex thank you for you and you're so great at that filling us in on all these myriad issues but we're ta

from the government and they freak out people that have been like you have the international security exchangend not all exchanges have this experience you know put the compliance guy on it get it done when can you get it done all those you have to do what you have to do have to now and we also saw a coin base being asked by the i.r.s. last year about getting the names of their investors you do have to pay taxes on the profits you made on crypto and we boars only estie we thank you again for being here appreciate you being in studio pleasure to be here blanc so much see a next time. to sell the largest second largest aluminum company in the world located in russia could be catching a break from the trumpet ministration the aluminum industry giant which has been hit hard by u.s. sanctions has been given an additional month to change its ownership structure which in turn may greatly reduce the restrictions on the firm artie's alex mahela bij joins us from toronto with the latest alex thank you for you and you're so great it filling us in on all these myriad issues but we're talking about easing

committee and the board of directors which of the knowledge that the whistle blower has gone to the securities exchange commission but potentially related to improper reporting by the company on the news late last week semantic stop druck like a stone twenty percent in a day and then yesterday on a call with reporters the c.e.o. greg clarke didn't do any good by saying he couldn't comment on the matter what's going on with semantics melissa. well it did drop it dropped in the last week and the stock is now in a down trend it's definitely not a buy list a little bit since that first big drop but also really the company really isn't stating much and so it's turned out there that they're counting practices are being investigated by the f.c.c. which which is trouble that signals trouble and because they're not really disclosing a lot of information about it i think it's worrisome for investors and the stock really is not a buy and we don't know what's going to happen or how long the investigation is going to take but supposedly they've been being investigated since april of this year you know those little

securities exchange commission even such questions are fighting words for son attorney gary de waal and i will discuss the current state of play in light of some rather you rhetoric of the past few days plus r t correspondent peter oliver takes a look at norah list the giant russian nickel company which some say could be dealt a big blow from u.s. sanctions on russia and in the wake of news that one wall street firm will relocate their headquarters to ted a c we take a look at why so many businesses are making geographic moves the president of pro market where he forgets joins us and speaking of moving our t. correspondent ashley banks look at how to look at how people are moving around cities in a decidedly different way all that coming straight on to you but first let's get to the stories topping today's at. the european commission has unveiled a new common budget of one point two five trillion euros for a twenty twenty one through twenty twenty seven one proposal sure to cause controversy is a measure that would calibrate the level of funding to member states in direct relation to ge

truly exemplifies the commitment to fostering the innovative and progressive global and national security exchange strategic thinking that transforms the critical and integrative tapestry of the global peace. i also want to thank the moderator of. [applause] and i would like to again thank all of the authors for your support. [applause] and for the gifts that you will receive as you depart this evening. and for those of you that have been supportive of ndu and the foundation, like tonight be a the call to stay engaged in the leverage your resources and innovative ways to support national security and global peace. for those of you experiencing dynamic work of ndu and the foundation for the first time, we look forward to building new alliances with you. the national defense university is the nation's premier military educational institution. with an interagency and national security mission, ndu is not only the next generation of strategic leaders, but those also of our allies, part or send friends. we live in a difficult and dangerous world, both at home and abroad. we see the effects of the decis

securities & exchange commission arobert j jackson jr.ury official and a law professor at nyu and colombia. welcome to bloomberg. good to have you here. i want to start with ics, initial coin offerings include the currency. i'm going to put the quote from your boss. ico i'veve every seen is a security." why can't the sec regulate it? >> the chairman hasn't seen an ico yet that isn't a security. i'm not against people selling coins to build system that people can use. the fact that it's a security doesn't mean they can't do it. they have to follow all the rules. folks trying to skirt the rules in this area -- david: is the sec going to impose those rules? will it be subject to the 33 act? >> we only have a few cases before us. seen tendures he has to fit the definition of a security. shery: you have stepped up enforcement, crackdowns on fraud recently this year. you announced on your own website -- tell us what's going on there. jose: one of the great things about working at the sec, you work with some of the best staff at government. init

managers are the main shareholders and not accountable to small shareholders and not subject to securities exchange long running answerable to them sounds. weeks we question traffic by email they ignore questions they even refused to talk to us on the phone and finally declined to be interviewed referring us to their website. musical sylvie's our excellent services are based in our global network. we import the refined petroleum products that africa needs wherever we work we maintain the highest possible standards. moving our responsibility for health and safety the environment and the communities where we work is at the heart of all our processes and decisions to fuel the local police the police through the. redefining trade in africa who defeated nicholas on a freak response was. the toll and evil energy both respect and comply with the regulations of any jurisdiction in which they operate. under regulations it is not possible for vitol to directly supply evo energy with petroleum products. the evo energy is obliged to purchase products from a bulk distribution company and the products available

each user reason essential responsible for his own wallet security centralized exchange they take the responsibility from the user sometimes the use of prefers that they don't need to be responsible for their own security so they rather have some centralized exchange keep the money for that now not always working for the end user but sometimes it does come out this quick question in the space keynesianism has a bad name because this space is filled with austrian economists and the idea of individual sovereignty and keynes is actually a vilified figure in this space is that like a branding issue you know i've heard that form hard core economic you know yeah but it we were at the so should we were just associate with that's pretty folk proposal so even if you know me was travel quickly and better in their heads and they you know it affects their behavior and that's you know we accept that as i think again the best the best proof and the best thing that we aspire for is for people to use it and we don't you know if you think about the most of the products on the earth that we're able to

moreok about five years or for the securities exchange commission to create a role. -- a rule.ve 225 public the traded companies. we find that ceos are paid exorbitant amount of money's compared workers. how extreme it was was shocking to me. you talk about a company like makes 5000ir ceo times that of the average worker. some of the companies say we have a lot of part-time workers. what we know is that companies make people work part-time strategically so that they do not have to take on costs like health care benefits. it is not like people do not want to work full-time. companies make sure they do not. other companies come back and say, what about our workers overseas? that just means you are off shoring where the wages are low and the workers rights are low and you can make a lot of money. what about hiring american workers who have environmental human rights and labor protection? david: if you really want to enough toess, is it say get disclosure because that is what you are advocating. this is not a big secret to shareholders. the governmentg regulating the relationship b

it just went public on the canadian securities exchange. how can i get in on this?o excited to be here. that's the best intro i have ever had. kennedy: obviously you saw this coming back in 2010 when you started the company. and you knew there was going to be a green rush. did you think it would reach critical mass this quickly? >> yeah, why not. the demand has been there forever. kennedy: and the perception has changed even in 8 years. something that was seen as the tool of dirty hippies to destroy their mind to i don't wake up hung over anymore. >> how about the tool to end our opiate admiks this country. >> places where there is recreational and legal medical cannabis. the overdose rates for opioid deaths dropped precipitously. >> it dropped 25%. >> jeff sessions, my worry is as long as he's attorney general, you won't see companies like yours on the new york stock exchange. >> congress makes laws in this country, the attorney general does not. kennedy: but congress has suffered from inaction. >> could it happen faster? should it happen faster? the fact that we s

there is a department of justice, securities exchange and a department of labor investigation going on, not to mention a bunch of attorneys general. i have to tell you, more than 35,000 people defend omaha nebraska -- omaha, nebraska master class on investing for the economy. he seems pretty strong. he is starting to see inflation and price is starting to rise. a lot of that has to do with the steel and aluminum tariffs. costs are going up for his companies. he owns pampered chef. they have stainless steel cookware. he has a steel company. his companies, all 63 of them are very much a proxy for the economy. i hope everybody joins us on foxbusiness. bitcoin, they hate bitcoin. we will push him on that. >> before you go, i have to ask you. there are a lot of people that listen to what warren buffett has to say. there is a bit of a feud between him and tesla right now. tesla has been in the news quite a bit. >> i have covered elon musk since way back then. they have had a give-and-take. elon musk started it during his conference call a week ago when he said his electric semitrucks would h

these ideas, these methods attracted the attention of the securities exchange commission and eventuallya grand jury indicted tucker on charges of mail fraud and conspiracy to defraud the public. there was a trial. the jury reached its verdict. not guilty. so, what can we conclude about preston tucker? he was not a fraud or swindler. he did have a genuinely innovative car that in many ways was decades before it's time. he was a champion of seatbelts long before it became the standard of the industry. and the other things i mentioned, independent suspension and other attractive options for a car. he had a lot of ideas and energy and tried to set about to build a new car to introduce to consumers and the industry, but his effort floundered on the rocks of finances. he could not raise the kind of money to go into mass production. he might, though, as i have written here, have gotten his vindication in a couple of ways. despite the failure of his company, the dream died with the financial and legal problems he got into, but despite the failure of his company, he did have plans to build a new

justice department is a commodities commission, so this is not coming from the securities exchange commissionhich is already offering investigation for fraud's. now you have the two capital market agencies in the u.s., both investigating these processes. and when it comes to the cftc traditional justice probe, it looks like they are looking at the traditional frauds we have seen in the stock market. you are seeing spoofing, you are seeing wash trade, basically all of those manipulative tricks that stock proctors like to do to boost the price, and get out a of course at the expense of innocent investors. that is very interesting. mark: let's get to deutsche bank, the new chief executive wasting no time overhauling germany's biggest lender. earlier today christian addressed shareholders at the deutsche bank's annual general meeting in frankfurt. >> we are committed to our corporate and investment bank, and we are staying international. we are active in more than the 60 countries. and that is the way it is going to stay. >> it is interesting that he led by saying they are going to be a global ba

watchdogs, thewo securities exchange commission and the other commodities exchange commission.ne topic of investigation. socgen missing out on the trading games that boosted earnings of its american and european rivals. the front posted lower-than-expected results in its main trading businesses. one of four deputy ceo's was named in the management shakeup. we have a lot of diversity. in terms of experience and age. that is a good asset for the group. in the ok, the brexit transition period will need to be extended for years a cousin new customs regime will not be ready to come into force in time. that is according to the senior british officials speaking who are familiar with the brexit talks who say that will be a politically explosive decision. that the u.k. would have to stay inside the union. while new border measures are developed. norway is trying to injure it will not be damaged by potential escalation of trade tensions between europe and the u.s. they want the flow of gas to continue. the norwegian foreign minister spoke exclusively to bloomberg in oslo. >> we are in cl

securities and exchange commission defines a ponzi scheme as an investment fraud that involves the paymentof purported returns to existing investors from funds contributed by new investors. but really ponzi schemes usually involve lying to the investor which is also what goes on with wall street most investors don't understand that they own literally nothing they don't know that they are simply gambling and they don't know that their profit relies on everyone still believing this stupid fraud is real boy where do i sign up. this means the only way to get your money back or to profit is to find another trump willing to buy it now don't get me wrong your argument may be this is america there's always another job we are based on a long time honored tradition of never running out of jumps or. we're lousy with chumps that's a fair point but i don't think you see anyone proudly touting that as the definition of the stock market i would actually respect that i would if it were right there on the front of the stock exchange just said put your money into stocks bargain the only way you going to mak

securities and exchange. his commission defines a ponzi scheme as an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors but only ponzi schemes usually involve lying to the investor which is also what goes on with wall street most investors don't understand that they own literally nothing they don't know that they are simply gambling and they don't know that their profit relies on everyone still believing this stupid fraud is real boy where do i sign up. this means the only way to get your money back or to profit is to find another chump willing to buy it now don't get me wrong your argument may be this is america there's always another job we are based on a long time honored tradition of never running out of jobs. were lousy with chumps. that's a fair point but i don't think you see anyone proudly touting that as the definition of the stock market i would actually respect that i would if it were right there on the front of the stock ex

securities and exchange commission the f.c.c. from an acting a regulation that the firm say could hold back the development of block chain technology that is the superstructure of most crypto currencies delegations from andresen horwitz union square ventures and the national venture capital association among other stakeholder holders reportedly met with f.c.c. officials at the ses division of corporate finance to argue against a policy proposal to treat crypto currencies created by startups as securities that designation as a security would bring extensive oversight to such tokens as i spoke about on the program last week with attorney gary de wall the case law surrounding the definition of what a security is is crystal clear that kryptos are in fact securities under what is called the how we test nestle the food and candy company is paying starbucks over seven billion dollars why to be able to sell starbucks brand coffee products the often controversial swiss space food giant hopes to boost its global coffee business through the

securities and exchange commission defines a ponzi scheme as an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. but really ponzi schemes usually involve lying to the investor which is also what goes on with wall street most investors don't understand that they own literally nothing they don't know that they are simply gambling and they don't know that their profit relies on everyone still believing this stupid fraud is real boy where do i sign up. this means the only way to get your money back or to profit is to find another chump willing to buy it now don't get me wrong your argument may be this is america there's always another job we are based on a long time honored tradition of never running out of jumps or. we're lousy with chumps that's a fair point but i don't think you see anyone proudly touting that as the definition of the stock market i would actually respect that i would if it were right there on the front of the stock exchange just said put your money into stock market the only way you going to make

securities exchange commission of a entertainment hunt.order to compel jay-z to provide testimony. global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. david: indonesia is acting up again. fears about a contagion in emerging markets seems to be spreading. that is accelerating losses, of a by 1.5%. up by 1.5%. is trading at 28-month low -- at a low. this on concerns that slow growth could limit bank options.'s you have the two-year yield jumping the session. lastly, the onshore yuan, trading near a generally low. dimon weighing in on the yuan's future, saying that reforms are still needed before he can rival the dollar and it will eventually be comparable. when he says comparable, he means 20 to 30 years. all right, thank you so much for that. let's take a look at earnings. india fellrofits for to the lowest in two years. was the make of these numbers? guess what do you make of these numbers? >> yes, the numbers were down. they were even 50% below consensus estimates which confirms my view th

the other half will go to the security an exchange mission to reap a bill gotten gains.say they have replaced the entire management team and set aside money so it will not be bad on the balance sheet. the market has not responded favourably. panasonic ‘s shares at the start of the day down 2.3%, and the shares rallied, but they still closed 1.1, 1.296 rallied, but they still closed 1.1, 1.2% down since the market closed. thank you very much indeed for that. let us take a look at the markets. uncertainty over trade wars and geopolitical tensions over iran kept investors on edge on wall street and asia overnight. but the extension of that deadline for steel and aluminium tariffs did go some way to reversing bigger losses. keeping a few markets in positive territory. the hong kong market and the chinese markets closed for the may day bank holiday. most european stocks, like the dax in germany, closed for the holiday, but i wanted to show you bp share prices, one to watch as it is reported its best quarterly results of three years, 71% surge in its profits. let us see what i

securities and exchange commission and the commodity futures trading commission some would say this raises questions about other pensions and related funds around the nation from which wells serves as a trustee the former financial regulator myself here's what i know this will be investigated and it should be surprised actually if it hadn't already started stealing pensioners funds i mean come on guys. beyond bag insurance group has been making headlines but not always for the right reasons the former chairman of the company way was sentenced to more than eighteen years in prison on yesterday on charges of fraud and embezzlement the shanghai court also said that will have no political rights for up to four years and will confiscate his more than one point seven billion dollars in assets was accused in march for masterminding a fraud scheme worth more than ten billion dollars he used on authorized sales of an investment insurance product to inflate the company's capital the scheme had apparently gone on for years allowing on bag to see rapid growth as well as acquire various bank and other

plus, a new home on the canadian securities exchange. we talked to adam bierman about going public. a quick check of the major averages. 1.3% while the s&p 500 is being led higher by financials. treasury yields rebounding above 2.8% while the nasdaq is up about 1%. vonnie: and i'm looking at the canadian dollar, after the bank of canada did not increase for the -- meeting in a row. the statement did appear to be more hawkish than anticipated. one strategist is saying that it is a warning shot that the july rate hike is a solid possibility. negotiations over trade are ongoing as well. canada's foreign minister is saying there is no timeline, and she will not be tied down to any kind of timeline, that she will stick to the goal of a good deal. let's also take a look at some of our other partners' currencies. peso, though an bit stronger, and a weaker stronger in today's session but still at the 640 handle. , causeway ketterer capital ceo. she joins us from los angeles. i want to start with italy. one of your holdings, a value holding, is one of the italian banks. we had another value

agencies, the securities and exchange commission, the office of the comptroller of currency, they allto submit proposals for public comment and this is a particularly controversial rule that will likely give tanks and investor advocates, anti-wall street people like elizabeth warren months to weigh in on this. we might not see a final rule until the end of the year or potentially even into 2019. david: presuming that they cut back on some of these requirements, is this something that saves money for the banks because they won't be the documentation? or will they change their behavior? will they be venturing their own capital, which is what the volcker rule was supposed to discourage? on the margin i mention it will be a ramping up of risk for the same reason that, as it stands now, banks have huge compliance department were -- departments where they think there are these gray areas where they don't think it violates the volcker rule, but don't take the risk because while the trading opportunity exists, the due diligence at the time that it takes to analyze whether the trade might viol

we'll be satisfied with any security guarantee that the us my offer in exchange for giving up nuclear weapons now of course it's not only the u.s. he would. look to for security ultimately there is a there is a treaty a military alliance effectively between north korea and china and if russia is going to offer its security guarantee security umbrella to north korea as well that could potentially persuade the koreans that their future will be secure for for in exchange for the for the right kind of deal but as i say i still think that the sticking point will be the removal of u.s. forces from the korean peninsula i can't see how trump despite all his rhetoric about you know his allies needing to take take care of themselves and so on i think this would just be such a diminution of of u.s. power that he would not be able to offer that so as i say it's difficult to see really a deal because of course you could have you could envision a deal lifting sanctions in exchange for freeze or nuclear test for example a more limited deal but trying to raise the stakes so high that he wants nothing

. >> she volunteered to go see the securities & exchange commission over suspicious trade. she went in there, that, and she concocted a story which the jury believed was a lie. she obstructed justice. if she didn't do that, let's point out, why did she do that? she was ceo of publicly-traded company, if she didn't do that they would roast her for it. it is an optics problem. you lose either way. that is the problem. neil: you have more to lose talking than not. >> politically. >> trump is fine sitting down with mueller. rudy and jay say don't do it. neil: to charlie's point that is zero-sum game. >> that is why the law is in place the sitting president could take the fifth and wouldn't have to testify. neil: fine legal minds are disagreeing with that precedent. if subpoenaed he has to. i don't know if that is true, whether you like the president or not, that is slippery path. he could talk himself right into perjury intentionally or unintentionallily. >> that is why they hired rudy. they have to do a public relations blitz. neil: why do they have to talk about it. >> tell u

securities and exchange commission of engaging in a "celebrity hunt."ulators trying to compel the hip-hop mogul to testify and accompany heated business with more than a decade ago. they find a court order to compel jay-z to provide testimony. global news, 24 hours a day, on air, and @tictoc on twitter. i am jessica summers. this is bloomberg. haidi: let's get you a quick asiae on the markets as gets hit for another day of trading. we have seen things turn .8%.ive, up by hitting its high point for 2018. sydney futures pretty positive. intoints to the outside go the open. the aussie dollar holding at 75.13 ahead of budget day and the aussie-kiwi pay -- lossd an environment of for the kiwi. the yen trading at 109, as well as watching the sterling ahead of the bank of england's decision and mark carney's policy statement as well. u.s. stocks, topsy-turvy. these geopolitical concerns imminent, throwing things into the mix. the u.s. tenure pretty much unchanged. pretty sticky at 2.95%, it seems. we have got garfield reynolds here with me in sydney. saying, w

drivers involved in a fender bender pulled off van ness here onto golden gate to stop and exchange information. that security camera down there captured the exchange. it also captured the moment when one driver took off, hitting the victim and stealing his phone. >> these little things are a big issue. >> reporter: jose has a big issue with the man in this video. he says the driver of the black car rear-ended him on van ness near golden gate in san francisco on may 1st. >> i was taking pictures of the driver license for the insurance company. so when i have that in my phone, i make a phone call to his company so he can be able to report the accident. >> reporter: that's when things changed. he says he handed the man his phone when the insurance agent asked to speak with him. as he's talking, watch the driver get back in his car and take off, clipping his hip. >> he hit me and he stole my phone. >> reporter: he has handed the video over to police and uber. he says an uber representative tells him they don't know who he is, but he's certain the man was working for uber because he had customers in his car, said

the security and exchange commission said we are going to take matters into our own hands. a lot of the fraud that's out there when it comes to crypto currency, look at this website. this is the website called halle coins. there's a token sale and then if you get in early, there's a white paper that looks legitimate and if you buy now you'll receive double discounts. you see this champagne and use a look at this, isn't this fabulous. if you buy single coming to the 25% discount. then silver and then here we have something else in italy. the team looks hip and young and smart and fabulous let's go buy it. let me click on this and tell you hey, i'm in for the silver. i'm not to go crazy and then it brings you too investor.gov. it says if you are spotted to investment offer like this you could have been scammed. howie coins are completely fake. here to weigh in on crypto regulatory is jeff. you're an expert in this kind of stuff. this is mark peter look smart to me. people get sucked in and they learned very quickly and it's not an expensive lesson. >> thanks for having me. an

sec, securities & exchange commission, believed she committed civil insider trading.l investigating. she concocted a story, 12 men and women, 12 of them on jury, just about everybody else heard her story thought was insane. it made no sense. it was conjured up. almost lied to. i don't want to call it a lie, that is heightened level but it is, so much bs that comey had no chance but to indict her on a host of issues. neil: killer about that, she was millionaire many times over and -- >> if she said yeah i did trade, what happened was, the story came from her brokerage assistant, i gave her a tipoff what the family that owned this company was doing. she was in the stock. neil: remember they said, insider information. that seemed inside info. >> civilly. maybe not criminally. neil: she was in the slammer for a couple of years. >> because she slide bit. she lied about her whole trade. neil: would pardon do, expunge all that? everyone knows. >> here is the thing from political standpoint, i'm sure rudy is telling him to do this knowing rudy giuliani as u.s. attorney, he wo

erik: one last question for you cdf, as iand understand it, of the jurisdiction of the securities and exchangemission. why is the cftc stepping into this situation? >> credit indices are jurisdictions, and indices are made up of single-name products. we also coordinate with the fcc -- s.e.c.. we may see something we bring to their attention as appropriate. erik: have you had conversation starkly -- when i say you come i mean the commission more broadly -- with any participants? >> i really don't want to discuss a particular matter. erik: another issue with the cftc has taken a leadership role is the regulation of cryptocurrencies, specifically allowing the visions and trading of bitcoin futures, since late last year. is the cftc giving serious consideration to futures are derivatives based on coins other than that going? itbaidu asked that because just -- i'm glad you asked that because it gives me an opportunity to clarify. different than other regulars on the role -- as a result, we had 12,000 new product self-certified in the last 18 years. a very active pathway, one of the reasons why our

securities. this time, it is the government that is ensuring the loans directly. they are still being packaged, exchangeies to be technical. the main difference, people have to have incomes and jobs, and it has to be documented, but then there are other ways it might remind you of the past. a lot of these people are putting down very little, sometimes nothing. fha loans are supposed to have but a lot of people are getting assistance so they are paying nothing. their credit scores are quite low. they are devoting huge amounts of their income to debt payment. carol: we brought up angelo because he is quite a character, we all agree on. he works for a non-bank lender, and he is making a lot of loans to people who probably could not go to jp morgan or citibank to get a mortgage. prashant: he told me that. talking about the a man whose car was repossessed, and he was telling him we are not going to worry about that repossession. we are pretty lenient. -- what he told me is, right next door is a bank of america, and this guy went in , hee, and he demonstrated showed basically what they would do. they would ki