accounts of u.s. bank that was supposed to be holding over two hundred million dollars of client segregated funds or is less than ten million dollars and they've had well over a year to look into this and they have mentioned the j.p. morgan chase account all they've mentioned so far as u.s. bank account whenever we sent body yen to p.s.g. we sent into j.p. morgan don't want said anything about that account yet more and that's interesting so we have a screen shot of showing where the wire transfers go that j.p. morgan it is who the segregated accounts are where if you are p.f.c. customer now now we spoke to the n f. hey they said that the onus is not on j.p. morgan to make sure that that what ph d. is reporting in terms of its customer accounts is accurate that the onus is not on j.p. morgan but j.p. morgan is involved in this in a different way you were talking to me earlier about how in in at least one of pierre t.'s business j.p. morgan is the prime broker so what role did they play well p.s.g. made a bi

two against one. >> and manipulating the political system as any u.s. bank, the u.s. nks do -- it's true u.s. regulators do go after foreign banks just like they do domestic banks. that's because we let them operate here. we have the most open financial system in the world. that's why they get in trouble. >> what about with iran, barclays, credit suisse all agreed to paying fines for doing business with these banks. >> we have libor. for years and years and years -- >> are they misbehaving more. i don't think they're misbehaving more, misbehavining just about as much as american banks. >> standard charter could lose its banking license. >> when you're accused to giving money to countries that sponsor terrorism, you damn well should lose your license. we're talking hundreds of millions of record fines paid by goldman sachs for allegedly cheating a german bank. we were protecting a german bank and finding one of our own. >> you think it's a fair playing field? >> i think it's a fair playing field. if anything, we give doubt to for ren banks because we think their home re

regulators too tough on non-u.s. banks. so how do you, what are your thoughts on that and how do you think the brits are going to react to this settlement? >> well two parts. one is that you know, u.s. banking law's a little bit different from international banking law in that we do have a series of sanctions and prohibitions on transacting with entities tied to terrorists link countries, iran being one of them. european countries, asian countries don't have the same regime. so foreign banks operating here are subject to our laws, but it's a different culture so that they have to be a little bit more careful. the other is post financial crises, where banks have shifted their attention much more to safety and soundness issue to proven lending and underwriting issues have i think probably taken their eye off the ball off of these type of compliance issues, and i think we're going to see more of these types of money laundering sanctions over the next few months. >> susie: well quickly, because this whole standard charter case

those sanctions target financial institution that help iran's banks settle payments for oil exports. in a related move the u.s. treasury department has added iraq's islamic bank and china's bank to the list of organizations banned with with dealing with u.s. financial institutions. those banks have done business with financial institutions in iran and they are subject to sanctions for their suspected involvement in developing weapons of mass destruction. >>> beijing has reacted angrily demanding the united states withdraw the sanction against the chinese bank. foreign ministry pokes spokesperson said the u.s. used a domestic law to impose sanctions on a chinese financial institutions. he said this seriously violates international rules and pointed out his country is actively involved in the effort to resolve iran's nuclear issue and adding repeated sanctions against chinese banks will hurt relations between the china and u.s. development bank of japan polled 2200 large companies in june, about their plans to invest in plant and equipment. the survey shows investments for this fiscal year will rise 12% domesti

u.s. banking license, it's possible they would no longer be able to continue in that activity. >> standard chartered strongly reject the allegations and says 99.9% of its iranian transactions meet u.s. regulations. it seemed surprised by all this. they launched their own review into compliance to a half years ago and says it has been keeping the u.s. authorities that to date on its progress. but in 2006, a senior executive warned of serious or even catastrophic damage to the group. a london executive said to have respond you (bleep) can't tell us and the rest of the world we are not going to deal with the iranians. >> at the white house says the u.s. administration is in close contact with the new york authorities. they have demanded standard chartered explain its actions at a hearing next week. >> iran has also been stirring controversy in syria today were the head of the supreme national security council of iran met with president assad. it is the first time the syrian leader has appeared on television and weeks and he used as an opportunity to say he was determined to purchase country o

it is far away from any u.s. banks. it is used as the basis for pricing of many products including mortgages and some loans. that is where it affects some individuals. it might mean they have been shortchanged in some way. >> thank you very much. >> at least nine people have been killed s another series of bomb attacks in iraq. the first bomb went off just after locals have gathered to break their fast. it is civilians and a policemen were killed. minutes later, a car bomb exploded. a second device went off just as police arrived on the scene and at least seven people there lost their lives. russian police and security guards have broken up a protest in support of the female punk band pussy riot. a verdict in the case is expected on friday. now to australia where cigarettes will only be sold in prepackages covered in health warnings and gruesome pictures of smoking-related illnesses. the new packaging comes after the highest court dismissed a legal challenge from cigarette companies and up held the world's toughest laws

. >> u.s. bank is offering a reward up to $10,000 for the arrest and conviction of the bank robber. i think she'd want more, but she's not getting it. >> reporter: the fbi is defensive about the name they've given her. >> she's not that plain. >> reporter: but they're hoping at the rate she's robbing banks she'll soon be behind bars. i'm david wright for "nightline" in los angeles. >> david wright with the mask there looking just like the old geezer bank robber. >>> just ahead, an accident took him from high school dropout to mathematical genius. how? inside one man's beautiful mind. you know what i love about this country? trick question. i love everything about this country! including prilosec otc. you know one pill each morning treats your frequent heartburn so you can enjoy all this great land of ours has to offer like demolition derbies. and drive thru weddings. so if you're one of those people who gets heartburn and then treats day after day, block the acid with prilosec otc.. and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero

u.s. central bank

u.s. bank is the fifth largest commercial bank in the u.s. >> alan: firefighters beat back the flames while defending hopes in santa cruz county. the fire started in rugged terrain west of los gatos. lisa amin gulezian has that story. >> reporter: smoke filled the sky above a rural area off bear creek road. didn't take long before the wildfire grew to six acres. >> right now this is one of the largest fires because of access and because of the fuel moistures, it could have been a larger fire. >> reporter: calfair and several other local agencies moved fast. you can see from these photos, they attacked the fire at first by air. dropping water and retardant, but firefighters timed to get their ground strategy in place. because just reaching the fire was massive undertaking. >> they have the firefighters drop down and actually go from that tree right there, down in there, to get to the fire. >> reporter: the fire moved up the hillsides, threatening more than 200 homes. >> we packed all the handmad

u.s. banking license. and saying with europe we have new statistics for germany exports hold seventy three billion euros in june which is one and a half percent lower than made imports dropped as well by three percent to just over seventy six billion euros and while exports to yours own countries the quine three percent if we compared to two thousand and eleven exports to countries outside of the e.u. soared it's one seat. son compared with the previous year. and from germany to greece as i mentioned earlier standard and poor's has downgraded its outlook form stable to negative their rating services says the ratings agency i should say says that i has doubts about the greek government being able to make the further cuts needed to get the next tranche of cash from the e.u. now as i said at least it wasn't a credit downgrade because that would have been a complete blow to the economy there which may need as much as seven billion euros this year just to stay afloat that's taken into account that it's been shr

u.s. banking system right now by market cap. ere is no way that a country like australia needs a banking system that is five times as large as the u.s.'s banking system. >> you can short the australian index. you can short the australian dollar on the idea that as the economy shrinks they have to cut rates. >> then you have to get whipped around. >> you may. but, at this point in time, i think the stimulus that china is going to do is going to be for the domestic economy and less towards the mining sector. >> let's talk about that. >> we're going to raise the dividend but not as much as people expected. >> company positives is what you're always worried about. he is ahead of the game. look at iron our prices today this is breaking the lows of 2011 and 2010. oi think the demand factors are about the same. there is not a place for trauders to get in there. it is the true buyers. the chinese want them to go lower. i think you start to take a shot. you know, somewhere in here you start to look at the charts. a couple of these guys ha

the u.s. banks on a rebel victory and looks to a syria free from the regime of bashar al assad. >>> and new attack. president obama jabs at mitt romney's proposal to cut taxes for wealthier americans. >> it's like robin hood in reverse. it's romney hood. captioning funded by cbs >>> good morning, everybody. good to be with you. i'm terrell brown. this morning, investigators in wisconsin are trying to determine what caused the former soldier to go on a deadly shooting spree inside a sikh temple. wade michael page killed six worshipers sunday morning before being shot to death by police. last night at another sikh temple 100 miles away, people of all faiths gathered to remember the victims and make sense of the tragedy. at the white house, the president said if the attacks were motivated by ethnicity, americans should "recoil" against those kinds of attitudes. >> in this country, regardless of what we look like, where we come from, who we worship, we are all one people. >> while no motive for the shoo

the largest six u.s. banks, their assets, total this, the 50 next largest u.s. banks, big banks to be sure, hundreds of millions -- billions in assets, total less than the six largest. according to robert wilmers, the six biggest banks in the united states account forward 3535% of all deposits, 35% of deposits, 53% of banking assets, 56% of all mortgages and 93% -- 93% -- of trading revenues. this is just six banks who wield such immense power in our economy. the message to the markets is clear. these trillion-dollar megabanks, they're too big to manage, too big to regulate, and they continue to be too big to fail. we have work to do. for all of its benefits, dodd-frank's benefits including a consumer protection agency and the oversight of derivatives, dodd-frank reliedz lies upon regulators to get it right this time. but -- but given their track record, too close to those who they regula, sometimes there just aren't enough of them. other times they may not have the expertise to be able to chase around some of the smartest, best educated, most experienced banking

u.s. banking license over the last like it was say we're done with. the new statistics expose totaled seventy three billion euros in june which is one point five percent lower than in my imports dropped as well by three percent to just over seven six but in your eyes ball that school year is. two point three percent if we compare that to twenty eleven exports to countries outside the e.u. soared twenty percent compared with the previous year let's talk about greece stands in import has lowered its own. look on grey's to negative and that's from stable a low rating agency believes it will be hard for the greek government to make more cuts needed to meet the requirements for its next tranche of cast from the. least this time it's not a credit downgrade all together they managed to avoid that and that's maybe because its ratings are already sort of bad they could quite seriously not get any worse sellers troubled economy made as much as seven billion euros this year to stay afloat that is given it's been shrinking for the last five years with unemploymen

u.s. banking license however the bank said the amount of illegal transactions totaled only fourteen million dollars instead of the claimed two hundred forty billion dollars they were financials all serious faux bank has become another european lender to stop speculating trading in through commodities now that's after corn and soybean prices surged all time highs on the u.s. drought the decision is a stand against chris. six who blames speculators for expensive. move over two currencies now and the euro is now declining versus the green bag now in the past couple of sessions we have seen a strengthening against the u.s. currency but actually the past two weeks have been pretty stable in the in this pair but the russian ruble oh well in line with this global trend is losing value to the dollar and gaining some against the common currency and let's move over to the russian markets now and indeed there was time for a correction and it's it's come the r.t.s. is down two percent in my six almost by the same amount and that's of to several sessions of pretty strong gains a second look at some of t

u.s. banking license. so we're talking about the u.k. another bank of england it's lowered the country's g.d.p. growth forecasts from around two percent to zero this year but the bank of england governor mervyn king said the bank would do all it can to pull the economy out of recession so you get a limit of the bond purchases using freshly created money in other words quantity of easing but ruling out a near term a cut in the key interest rate something to look out for greece stands in pause a lowered its outlook for all but negative excuse me to negative from stable elevation agency believes it will be hard for the greek government to make more cars which are necessary if they're going to meet up with those requirements for the charges of money that they're expected to get from the now it's not quite as bad because they didn't get an credit downgrade could have been wise among us maybe because as far as their ratings are concerned there's nowhere else to go they're pretty much as low as they are at the moment and the troubled economy may

comes as the bank is suspected of hiding tens of thousands of transactions with a rod which is subject to u.s. economic sanctions american financial regulation they've said that the banks loaned out as much as two hundred fifty billion dollars over nearly a decade a standard chartered they do to know why these allegations but they face losing their u.s. banking license and lots of intrigue in that while my stay with your analysis all talking about germany the biggest economy in the region they have got used to stakes and exports totaled seventy three bit in your is in june which is one point five percent lower than in my so import doctors well by three percent just over seventy six billion a year i was at school so euro zone countries they declined by three percent and if we compare that to twenty eleven schools the countries outside of the e.u. store twenty percent compared with the previous year all right now stands and poor's has lowered its outlook on greece to negative and that's from stable all the rating agency believes it will be homeless agrees the greek government to make more cuts

. >>> well, a u.s. bank judge has granted the reprieve to maryland's only ski resorts. the judge ruled today that they could have one more month to come up with this bankruptcy reorganization plan. now, this is suppose to be all done by tomorrow, but they will ask for two more months. the judge how set up the deadline for september 10. and of course that's a part of the problem as topper keeps giving them no snow in the winter and they can't make any money if it does not snow in maryland. >> it's a great resort. >> how much did they get this past year? >> about 80, but not too much. much more than what you got. percentage wise, we e did not do anything. and some big storms, we'll start with severe thunderstorm warnings for montgomery, just popping one now. and also howard county until 7:40. we'll zoom in to this one storm for you. we showed you this a little earlier. a pretty heavy storm and it extends, you know, up into parts of montgomery county as you go out towards georgia avenue and then there is a wide view now with this storm here. headed in between beltsville, h

u.s. banking license over. the british economy is the fault of the fright the bank of england has lowered the car just g.d.p. growth forecasts from around two percent to zero this year the regulator says that things are worse than they seem to three months ago and the inflation may fall below this year's target of. sends. a mole trouble this time it's a gray standard and poor's they've lowered their outlook all grace to negative from standard from stable i should say sorry sorry it's gone from bad to worse it was already pretty job all of us but it's not the agency believes it will be hard for the great government to make more cuts which are needed to meet the requirements for the next tranche of cash from the now this time around the world in a complete disaster because they did avoid a credit downgrade it's just the outlook that's going down now that maybe because it's ratings are already so bad like they can get me to call them a may need as much as seven is the share and that's just to stay right given it's

the largest u.s. bank acquisition this year. >> a government reporthows the u.s.minated armed sales making 78% of all weapon sales and over $66 billion, a record high saudi arabia bought most of the arms, spending $30 billion on weapons with 99% going to the u.s. >>> even the rich are cutting back. tiffany lowered its outlook for the year monday due to slow sales. >>> coming up, the twins put up a goose egg. the os notch up a pressure and the jays snap a seven-game skit. >>> a former red sox pitcher. your first look at sports is straight ahead. you are watching "first look" on msnbc. introducing share everything. unlimited talk. unlimited text. tap into a single pool of shareable data and add up to 10 different devices, including smartphones and tablets. the first plan of its kind. share everything. only from verizon. get $100 off select motorola 4g lte smartphones like the droid razr. ♪ atmix of energies.ve the world needs a broader that's why we're supplying natural gas to generate cleaner electricity... that has around 50% fewer co2 emissions than coal. and it'

u.s. central bank policymakers will maintain the current moll tear policy as the american economy is showing signs of a slow down. the federal reserve issued a statement after its two-day policy meeting keeping short-term interest rates at low levels until late 2014. that is at between 0 and 1/4 percent. the economic recovery has slowed slightly with weaker growth in jobs and consumer spending. it warns that credit fears in europe are posing significant risks to the u.s. economy. it says that economic recovery will be at a moderate pace for the time being. the statement says the fed will take further steps if economic indicators show the need for action. for analysis on the decision we spoke with the senior market economist at ufj. he says the u.s. central bank showed a strong will to take further action and notes the possibility of holding an emergency meeting if necessary. >> rorter: the biggest change is that they are saying the economy [ indiscernible ] it is surprising because usually central bank has optimistic view even if they fear the economy is not so strong. but this time, they cl

u.s. banking license, the u.s. market is bound to take that very seriously. i think it's too late at this stage. >> all this regulation is threaten the new york banks -- >> it would threaten their clearing operations. simon, a quick comment because it's likely this isn't the last we'll hear from u.s. regulators on this issue or whatever else. how do you invest or not invest in the rest of the sector as a result? >> you can look for value plays but that's all to do with the work out banks, rbs, so on. for me on a fundamental view, you have to play standard charitied charter chartered. i would see this on a one to two year view. >> thank you for joining us. mark oswald will stay with us. plenty more to come. >> he's got to run, like all the other stories in the last five years. roughly 2 million people have been evacuated as typhoon hit china. 210 miles an hour, wreaking havoc on transport system and causing floods. hundreds of flights at shanghai have been grounded. the typhoon is expected to move northwest later this evening. china's weather administration iss

and u.s. banks and a confirmation only seven and dollars of customer money? and why did ms say to and following up on the contrasting confirmation report quirks did anyone have an assay call u.s. bank to verify how much was in e account? and if not, why not? >> senator grassley, that is for the record i understand? >> yes. >> thank you very much. senator hoban. >> thank you, madam chairman. chairman gensler, if you explain to me, how do you ensure funds are customer segregated account are not used by commodity firms? just lay it out given what has happened, after a mass global, how do you protect customers? >> i think we will never protect it won't be somebody trying to steal or lie or cheat asked my grandfather sort of laid out what i do think that getting rules in place at the regulators can directly, on a daily basis see the account balance now with type ologies help is a big plus. i think also filling the hole that trustees giddens and these foreign accounts was a gap in our regulations that jst listening to the numbers is nearly a billion dollars or mayb

u.s. banking license so. now i did mention. talk about the economy because the recovery looks like it's coming any time soon the bank of england they've lowered the country's g.d.p. growth forecasts from around two percent to zero but the bank of england governor mervyn king said the bag would do all it counts to pull the economy out of recession meaning signaling a further says using freshly created money that's the pump of money quantity of easing in other words but rooting out a new cut in the key interest rate is about off the cards all right then let's talk about greece because of rating agencies standard and poor's they've dealt another blow to graze why would you see their credit outlook from stable to negative on the grounds that the greek government will find it hard to make more cuts needed to meet the requirements for the. next lies of cash they desperately need from the now the troubled economy may meet as much as seven billion years this year just to stay afloat and that given that it's been shrinking now for five y

u.s. treasury is closely monitoring the investigation of the u.k. bank. standard charter is accused of scheming with the iranian government to launder $250 billion. the bank's stock plunged 23% in london trading today. so what happens next? here to answer that: annemarie mcavoy, a former federal prosecutor specializing in money laundering. she is now a professor at fordham law school. ann marie what do you think is going to happen next, how much bigger is this going to get? >> this is only the beginning, this is going to get much bigger. there are going to be numerous investigations, not only the state but the federal regulators will get involved, the treasury department is getting involved, from will be criminal investigations, the f.b.i. is investigating. there will probably be an investigation an delight -- deloitt's involvement. it's going to get big and fines will be huge. in the end it will end with fines at the least. >> susie: how big are the penalties going to be and will anybody end up in jail? >> the penalties will likely be at least had the hu

u.s. banking license. in other news the u.s. federal reserve chairman ben bernanke you can see him there on the screen has suggested paying more attention to alternative economic indicators rather than the v.p. which can sometimes mask important information he gave an example of the better life and next used by the organization for economic cooperation and development which compares countries indicators of quality of life ben bernanke he also cites of the kingdom of the tong which stopped tracking this g.d.p. in the one nine hundred seventy two in favor of a gross national happiness index and he said non-conventional indicators could help analysts measure the real state of economic affairs. but if you take a look at the exchange rates we see that the euro a solution against the u.s. dollar when it comes to the ruble extended its gains against both major currencies on monday in fact it closed at its highest level of the summer well given the updated figures when there are some markets will open which is in an hour from now if we

u.s. banking license over this. of the u.k. that the first issue economy is fall from a covering the bank of england has lowered the country's g.d.p. growth forecasts from around two percent to zero this year the regulator says that things are worse than they see this few months ago and the inflation may fall below this year's target of two percent. as standard and poor's they have lowered its outlook on a greece to negative from stable the rating agency believes it will be hard for the greek government to make more cars which all needed necessary to meet the requirements for the next tranche of cash from the e.u. now this time around at least they did avoid a complete credit downgrade just the outlook at a moment maybe because it's ratings go overseas so bout the they couldn't potentially get any worse the troubled economy may need as much as seven billion euro is this just to stay afloat given it's been shrinking for the last five years now with unemployment skyrocketing to twenty eight so it's still holding on to the euro dol

u.s. banking license. and staying with the you're moving to germany now we have new statistics their exports totaled seventy three billion euros in june which is one of the half percent lower than in may imports dropped as well by for. three percent to just over seventy six million euros and while exports to your song countries that climbed three percent if we compared to two thousand and eleven exports to countries outside of the e.u. soared twenty percent compared with the previous year. standard and poor's which has delivered a new blow to greece it has downgraded its outlook and now one from stable to negative and the ratings agency says this is due to the fact that they have not the greek government will be able to make those cuts needed to receive those requirements to get the other tranche of cash from the e.u. and of course many investors wiley's happy that it was in a credit downgrade which we saw the troubled economy though still needs as much as seven billion euros this year just to stay afloat

u.s. banking license. he's saying with europe we have new statistics for germany exports totaled seventy three billion euros in june which is one of the half percent lower than and made imports dropped as well by three percent to just over seventy six billion euros and while exports to europe on countries decline three percent if we compared two thousand and eleven exports to countries outside of the e.u. so ward at twenty two percent compared with the previous year. and from germany would move on to greece where standard and poor's has downgraded its outlook on the country from stay. negative in the ratings agency says all this is due to the fact that they doubt the greek government will be able to make more fulfill their requirements to get next tranche of cash from the e.u. of course a lot of investors are happy that it's not another credit downgrade but the troubled economy mainly this much is seven a billion euros this year just to stay afloat given the fact that it's been shrinking for the last five

morgan and bank of america posting healthy gains of over two percent also the second largest u.s. natural gas producer chesapeake is now over ten percent composed of territories to some big companies today really showing what they're made of we got the dow jones nearly half a percent up on the nasdaq around one percent opposed to us was european markets are concerned it was a choppy day of trade there up down all day long it's hard to keep track now and that was imposed today to coming out of the u.s. markets and that was because of industrial amount i thought you numbers they weren't quite as bad as what was expected tomorrow we're going to get some likely kind of signals as to whether we're going to see quantified easing or. we really don't know. who on the line at the moment will the fed so we're also going to talk about what about those i promise you stand a chartered yes it was going on at one point we saw the stock losing every twenty percent and that's because it's been suspected of hiding tens of thousands of transactions with a draw which is subject to u.s. economic sanct

percent in positive territory and i did mention the bank it's now suspected of hiding tens of thousands of transactions with iran which is something to the u.s. economic functions now american financial regulators they said that the bank has laundered as much as two hundred fifty billion dollars over nearly a decade a standard chartered which denies the allegations faces losing its u.s. banking license so telling us so much about the biggest bang. in the land areas ben bernanke of the federal reserve chairman he suggested paying more attention to alternative economic indicators rather than the paper which can sometimes most important information that's what he says and he gave an example of the best of the life indexed used by the organization of economic cooperation and development which compares countries based on indicators of quality of life but also you cited the three songs which will track each g.d.p. in one to seventy two in the favor of the gross national happiness is x he said non-conventional indicators could help measure the real state of economic affairs override it without a minus have a look at the traders so repair that the e

u.s. banking license now meanwhile some u.k. parliamentarians they suggest the move is a part of the u.s. commercial battle. and moving on we are also going to talk about grace polls they've lowered the outlook on greece to a negative that was from stable so from bad to worse the rating agency believes it will be hard for the greek government to make more cots needed to meet the requirements for the next tranche of cash from the. move on see some currency rates and if we see how the variable is responding to all of that we've got it lower than one twenty three forty two just as you can see is responding negatively and as we see we can just see that greece is called more troubles on the agenda just sat out for the ruble though it's not for long to move and shake just now and is actually declining against the baskets of cars if you can resist one of those highs of the sama all right that brings us on to the markets here in moscow they too don't have long to change their fortunes on the looking set to finish on the back foot yes ar