violation which means insider trading and so when he left stearns clearly in a very negative way he gave information to the feds as to how hedge funds operated and that was part of the deal including names of other perhaps pedophiles who were part of his ring one of the victims virginia louise roberts who has sued him multiple times even though she has also signed agreements with mr epstein accepting monies. she claims that she had she was forced to have sex as a minor with eight powerful men she does not name or identify the names even though she told one of the attorneys representing the victims that. one of those powerful men was prince andrew the duke of york. she does not identify any other man but she does claim that there were eight powerful men and she was too scared to give the other names so there's there's no indication that the f.b.i. ever actually acted upon the names that were given to them by epstein is there no there is no indication and if there and usually i'm sorry yes going you know and you go ahead and if they had acted they have done nothing because we're now in the

so the chords are executed i said yes i said shows the which is now without stearns the moscow cd what shall we put there are people going to talk to us to prior to today that says they are popular bloggers with realtors and of million subscribers and they are being collecting questions from their subscribers and the most popular questions will be the forward for all of these sessions so we sent our correspondent right to those bloggers and he is going to be live in sac and. sim w. saying hello everyone for the first in the history after two and a sessions where russian president is. taking the bloggers of russia right. that fashions would be commenting are on the card for being a recording videos streaming videos they have their own channels to which they applaud their videos and the videos they well used to record using their smartphones but now they have professional cameras for there but the overall audience de jure is around twenty million people that sold me year at this very point they are streaming that they are reporting to the audience what is happening at this very moment pr

ability to pay off those credit default swaps what happened with some of the other problems that bear stearns and lehman brothers were bets that went bad really quickly when the other side decided you know this isn't worth as much as we thought it was so i mean lehman brothers just three or four months before it's bankruptcy was doing well it's auditor gave it a clean bill of health its stock was not so bad and then immediately became clear that it bets its bets were bad even after the crisis the so-called well managed bank j.p. morgan discovered that its london whale position was actually a five billion dollars loss sending the stock market stock price for that company down by about thirty percent so bad things in speculation can happen very quickly. one of the things that made the original volcker rule for the law was passed in dodd frank and then these five regulatory agencies including the fed c c o c c c f.t.c. my agency they all had to do it at the same time and we did it i think it was on december twelfth december twelfth ok it was snowing that day i remember it was all over t.v. becau

ability to pay off those credit default swaps what happened with some of the other problems that bear stearns and lehman brothers were bets that went bad really quickly when the other side decided you know this isn't worth as much as we thought it was so i mean lehman brothers just three or four months before it's bankruptcy was doing well it's auditor gave it a clean bill of health its stock was not so bad and then immediately became clear that it bets its bets were bad even after the crisis the so-called well managed bank j.p. morgan discovered that its london whale position was actually a five billion dollars loss sending the stock market stock price for that company down by about thirty percent so bad things in speculation can happen very quickly. one of the things that made the original volcker rule for the law was passed in dodd frank and then these five regulatory agencies including the fed c c o c c c f.t.c. my agency they all had to do it at the same time and we did it i think it was on december twelfth december twelfth ok it was snowing that day i remember it was all over t.v. becau

ability to pay off those credit default swaps what happened with some of the other problems that bear stearns and lehman brothers were bets that went bad really quickly when the other side decided you know this isn't worth as much as we thought it was so i mean lehman brothers just three or four months before it's bankruptcy was doing well it's auditor gave it a clean bill of health its stock was not so bad and then immediately be became clear that it bets its bets were bad even after the crisis the so-called well managed bank j.p. morgan discovered that its london whale position was actually a five billion dollars loss sending the stock market stock price for that company down by about thirty percent so bad things in speculation can happen very quickly one of the things that made the original volcker rule for the law was passed in dodd frank and then these five regulatory agencies including the fed c c o c c c f.t.c. my agency they all had. do it at the same time and we did it i think it was on december twelfth december twelfth ok it was snowing that day i remember it was all over t.v. becau

so, it is no surprise that in the years leading up to the financial crisis, top executives at bear stearns and lehman brothers personally cashed out more than $2.4 billion worth of stock before the companies collapsed. it is no wonder that sophisticated investors have, for decades, strictly limited their own executives freedom to cash out shares. in the wake of the financial crisis, congress knew that it was important to force corporate managers to keep in the game in the long run. that is why the dodd frank act had provisions designed to give investors more information about whether and how managers can cash out. unfortunately, as you all know too well, the rules are still not yet been completed by the sec. investors are still in the dark about executive -- nearly a year since the landmark legislation, is completely unacceptable that the sec has not yet promulgated these and other rules required by law. it is not just at the regulations have not been finalized. the problem itself keeps getting worse. you see, the trump tax bill has unleashed unprecedented wave of buybacks. i worry that la

something that concerns me that the fed can't make those moves that it made with regards to bear stearns lehman brothers in the moment you were talking about earlier. and it did do with aig, those from the great depression ever rules. the fed had its power curtailed and that could be a problem. just that president trump out when he talked about economic value 've added. boy is that a squishy concept. i don't know any president to could do that bragging moment. what is economic value in this economy? you've got me at a disadvantage giving me a treat rather than a tweak. -- tweet. point since the election and now? a $20 trillionut economy in terms of gdp. tom: most of it is routine growth. >> the job creation is going well. that was friday, job creation is going well. the unemployment rate is low. i think that's what matters to oft people in terms evaluating the state of the economy. francine: how much does this have to do with tax cuts and how the u.s. will fund them? >> we will run big deficits. you don't fund the tax cut. it's a tax cut. that will mean bigger deficits and over time if t

francine: they were at bear stearns a few years ago and you heard the history with our jason kelly.e west coast of k.k.r. francine, he's been hugely involved in california philanthropy and just one idea, the san francisco ballet he basically resurrected or even invented but george roberts, always interesting and really interesting to see the generational change. it's the toughest thing to do in private equity and entrepreneurial finance to get on to the next generation. francine: it was a good interview because he focused on his view on the u.s. economy and jason got him to talk about some of the financials and believed for the moment they're in a good place but he says banks are acting responsibly and he talks about the future leadership of course at k.k.r. as you say and regulation. tom: very good. we'll continue. lots going on right now and of course we're looking at deutsche bank and commerce bank through all of "surveillance" and there's a modest meeting going on today in quebec and maybe they'll mention the washington capitals taking the stanley cup last night and we'll contin

dagen: credit and bond market had fallen boert bear stearns huge funds gone -- >> record october of thatis summer could be like summer 2007 when that sleepy cornerr asset backed commercial paper market starting to fall apart, domino's started to be october did catch up credit leads you are seeing a real tightening of conditions there we've got a lot of debt that still has to roll. >> how significant are you expecting in stocks. >> substantial talked 30%, i think given the valuation extremes that we are at right now that could be easy. >> good to see you -- >> happy summer. >> stephanie pomboy. >> get insights, thank you hell to pay, house intelligence committee chairman devin nunes through down the gauntlet on "sunday morning futures" demanding documents by past wednesday decline has broken we look what happens now a boost why your morning coffee may do you more than keeping you wake, al alan dershowitz other side of this break stay with us. ♪ brighthouse financial allow you to take advantage of growth opportunities... with a level of protection in down markets. so you can be less concer

hedge funds sponsored by bear stearns, which also took americans' individual deposits, suffered massive losses. during the crisis merrill lynch, morgan stanley and citigroup also -- also lost big on bets backed by subprime mortgages. goldman sachs had to bail out a hedge fund. congress constructed the federal reserve to write strict rules to prevent that from happening again, to make sure banks use a taxpayer safety net to serve their customers, not bet against them. banks should be in the business of making investments in the real economy, not casino-style trade, using family's checking accounts. it took decades to p finalize the volcker rule which was completed in 2013 after the consideration of thousands of public comments. now they want to undo it all. the rollbacks announced last week would gut core components of the volcker rule. "the new york times" said, quote, the balance of power will tip immediately to traders from regulators it shifts the power from watchdogs to the big banks themselves. from public servants looking to protect the public interest to executives making million