yes bank has a high level of bad loans and not enough capital to cover the losses putting the bank at risk of default that's why the central bank decided to place yes bank under a moratorium and is now working on a merger or takeover naturally a market based. solutions of the problem a bank. of the problem is a profitable we have said that in opera statement yesterday also so naturally you have to give time to the bank to the management to you know take whatever steps. need to take. because of the uncertain future shares of yes bank plunged more than 70 percent during trading hours wiping out around $1000000000.00 euros of market value in a single day it's the biggest fall ever of an indian blue chip stock. yes or no bank let's go to both kind of rally krishnan who joins us from delhi for the new side scroll rohan could you tell us whether or not depositors should be panicking right now. broadly speaking that both of our fine yesterday had so there's a bank of india which is the banking regulator showed everyone that everything would be taken care of nobody would lose money from it if

jp morgan has given at a target of one indian rupee on yes bank kid -- on yes bank. 15%. thank you so much for that. let's stay with india. after years of small divestments, prime minister modi planned a $29 billion privatization drive that would help prop up the economy and some of the nation's corporate icons could go on the block. our economics editor is with me. this is a long time coming. he was supposed to do this sometime ago. >> exactly. i think what we have seen here is direct pressure from the budget. this government is struggling to finance its huge budget deficit. it is widening to 3.8% gdp this year. the economy has slowed down quite fast in the past year. revenues are under pressure. the government has to find ways to finance the budget. what they are planning for in the coming fiscal year is to raise up to 29 billion u.s. dollars from asset sales. that is unprecedented. it will be the biggest asset sale in the history of india. the big question is whether they can succeed or not. prize theybiggest are going to be selling this year, it is a minority sta

yes bank customers included some of india's biggest businesses including group a body was once one of india's richest people incremental big increase in credit was going to all of the promoters who were who were hurt and before when we had before were not able to pay back their bank loans taken much earlier like in the u.p.a. the previous regime so so so that sort of turned out all the cronies ended up getting more loans to pay back their earlier loans the government has accused u.s. banks found and his family of laundering around $600000000.00 by receiving kickbacks for extending lines that couldn't be repaid kapoor's lawyer says he's being made a scapegoat 5th largest private analysts say the toxic loans crisis goes beyond a few bad apples it's the 3rd time in a year that india's reserve bank has intervened to rescue a lender the with our bad loans i. have played our economy our our financial system the last 5 years what are we on government had been hoping for a slow train wreck you know they want a soft land the problems that they were they were looking over but in this business t

one interesting think thing about the yes bang issue is that this was a private sector bank and. it's kind of stock counterpoint against the idea that privatization of the banking sector would help with all these issues but i still think that if they're small a great amount of private sector involvement there will be some there'll be some improvements made into clearing up these corporate governance issues mainly because the banks on average perform better and they are less cases of fraud and financially rant irregularities in private sector banks than republic banks why this was a bad time for the economy even before the coronavirus what's going on with growth do you think so much of the slowdown has happened over the last year or so can be traced back to the problems in the shadow banking sector and what that did was it created a squeeze of credit because a lot of risk aversion and reluctance to lend to these banks started to take place after fs default it into an 18 and it basically cause investment of the slump and then from there on you see this. gradual continuous slowdown

we know that india central bank is in the process of drawing out essential plan for yes bank for the for customers? customers certainly hope so. the reserve bank of india out assurances that depositors need not worry about the money, it is safe. in the beginning when the crisis hit the bank, the rbi said it would be capping any kind of withdrawals to under $700 till the third of april. when change has happened over the last few days, the rbi has relaxed that a little bit and they could be a possibility, if things go well, they could reduce that time and perhaps keep that till about the 23rd of this month so depositors are hoping about that. however, there is still a bit of turmoil at the bank atms. customers have been saying they haven't been able to use their debit or credit cards but over saturday and sunday, there was some improvement, however, online transactions for customers remaina online transactions for customers remain a bit of a problem, even now. customers struggle but it all depends on the rescue plan that biggest indian bank comes up with. it is likely to have to invest

shows in india struggling lender yes bank of jumped more than 30 percent after tanking on friday on fears it will collapse last week the reserve bank of india took control of the company and imposed cash withdrawal limits it now says it intends to invest in a 49 percent stake in yes bank as part of a brace you package and the deposit is need not worry about this a bit. thousands of travel companies hotels and small businesses face bankruptcy in mali years of unrest of destroyed a once thriving tourism industry officials have tried luring in the chinese to visit what they call the real africa but it's not a real holiday if armed soldiers are at every site and bombs are going off there are close to 15000 knew when blue helmets stationed in mali to keep a fragile peace. region trip down the niger river taking in the landmarks of mali's capital bamako. once a very lucrative business for captain dowden but data today he's happy to get even one paying customer aboard his barrow whose business is all but collapsed since the crisis began 8 years ago. i used to carry people and goods on large boat

in india's struggling lender yes bank have jumped more than 30 percent off the taking on friday on fears it will collapse last week the reserve bank of india took control of the company and imposed cash withdrawal limits now says it intends to invest in a 49 percent stake in yes bank as part of a rescue package and the deposit has need not worry about this a. business of it. earth home to millions of species a home worth saving. googling dia's tell stories of creative people and innovative projects around the world ideas that protect the climate boost clean energy solutions and reforestation. using interactive content to inspire people to take action global audience the series of global 3000 on t.w. and online. they're on a mission. to save the bar's comics from started in 1939 and since then they've created a vast empire of superheroes who also have human weaknesses. some of the creators have had their share of clashes the moving story of a comic giant marvel the stores march to the big. you may write me down in history but you know i'm bitter twisted. you may try me in the very dirt bu

years banks in their forces having a rather large banking crisis because of non-performing assets yes bank has something like 7.4 percent of non-performing assets just quite high and every year it just ended up having more than it had the force of this is a concern for the bank and in addition any of the last 3 years it has had some management issues in fights within the board and concerns from the reserve bank of india the regulator but whether the management of the appropriate a lot of that division played out over 2019 and it seems now that there's a bank of india does not trust the board to be able to raise fresh capital to keep the bank a going concern roll on the bank i'm a christian thank you very much for that. on friday opec ministers and their non opec counterparts will discuss plans to avoid an oil market crash in the face of the coronavirus. talks in vienna on thursday opec members have agreed to cut all production by 1500000 barrels in the 2nd quarter of this year the biggest cut since 2008 barrel prices dropped by a quarter since the coronavirus appeared opec wants its allies

look at theake a factors related to yes bank. can about the receiving end when it comes to the package. haidi: how soon do we expect the resolution? >> that is a million-dollar question. the bailout has yet to be determined of when it will be done. the bank has been asked to take a majority and has said that it will be done much before that because it is a very important -- cannot wait until the deadline. a lotspeak, today we have of stakeholders also speaking to the central bank. they are coming out with their views about what the bailout package in detail should be. we are also seeing yes bank $2023 bond falling the most in over a week. this kind of, is the worst is over, are there any other risks looming after this? buthe worst might be over, the biggest concern is the bank coming up at this abrupt bailout package. because the way that the moratorium in central bank has put on this bank, the deposit of you and me of picking and another time, time one-off, you can expect it to be like 50,000 rubrics -- rupees. that has concerns

yes bank customers included some of india's biggest businesses including group a body was once one of india's richest people are the incremental big reason that it was going to already promoter who were. before before were not able to pay back the bank. like in the u.p.a. the previous regime. so that sort of turned out all the cronies ended up getting more loans to pay by. earlier. the government has accused u.s. banks found capone and his family of laundering around $600000000.00 by receiving kickbacks for extending loans that couldn't be repaid kapoor's lawyer says he's being made a scapegoat 5th largest private analysts say the toxic loans crisis goes beyond a few bad apples it's the 3rd time in a year that india's reserve bank has intervened to rescue a lender the where are bad loans. have plagued our economy our fanaticism the last 5 years. had been hoping for a slower train wreck you know they want the problems that they were they were looking over but in this business that is north korean regular 3 indirect it will cause damage. many are asking why the government didn't notice

in the latest blow to hit india's troubled yes bank its founder has been arrested for money laundering. we're live in mumbai for the latest. and could genetics be the key to making big gains in the gym? we'll hear from a company that believes the key to keeping fit is in your dna. today, what changes have you made in your business, workplace, at home due the to coronavirus? tell us your story, just use the hashtag bbcworklife. a warm welcome to the programme. financial markets in europe open for 35 minutes. i have to say, not looking good at all, sea of red, dramatic drops on key indexes across europe. what's driving this today? the price of oil has fallen to its lowest level in years sparking another bout of selling in international markets. the 30 percent collapse was sparked by saudi arabia's decision to raise production after the oil producers‘ cartel opec had failed to strike a deal with russia to extend or deepen existing production cuts. there is a current glut on the market as industry is hit by a slowdown brought about by the coronavirus epidemic looking at some stocks, shell

still ahead at this hour, india's banking sector is in crisis after the failure of yes bank. tral banks across the world are preparing their antiviral policies. which ones are next in line to provide that booster shot. this is bloomberg. ♪ >> we are going to need some fiscal stimulus. >> fiscal stimulus. >> fiscal stimulus. >> the market is screaming for policy action. >> a preemptive move by policymakers. >> a bold fiscal package. >> a whole government approach. >> it feels misguided that we are always dependent on the fed. forhe central bank asked fiscal stimulus for years to accompany monetary stimulus. >> we have not really seen it in most places around the world. >> looking to be backed into a corner. >> the incremental effects of monetary policy. >> there is a limit to what they can do. that, it isssed of fiscal stimulus. commenting on policy action and the impact. global risk from the coronavirus, pressure increases on central banks. michelle joins us now from singapore. about the emergency rate cuts. >> a week is a long time to wait. we will look at a few different eco

yes bank customers included some of india's biggest businesses including group a body was once one of india's richest people incremental big reason was. already promoters who were. able to pay back the bank. like in the u.p.a. the previous regime. cronies getting more loans to pay back then earlier. the government has accused u.s. banks founder and his family of laundering around $600000000.00 by receiving kickbacks for extending loans that couldn't be repaid lawyer says he's being made a scapegoat for. largest private analysts say the toxic loans crisis goes beyond a few bad apples it's the 3rd time in a year that india's reserve bank has intervened to rescue and lend the with bad loans. have gone to me our financial system the last 5 years. had been hoping for a snort drained rick you know they wanted a soft lead the problems that there were they were looking over it but in this business that is north korean regulatory and direct it really caused. many of asking why the government didn't notice us banks massive growth of the economy was suffering a significant slowdown yes bank resc

the failure of yes bank is again highlighting the banking crisis involving financial institutions with too many shadow banks which don't face the same regulations as lenders and companies. yes bank customers included some of india's biggest businesses including the group was once one of india's richest people incremental big reason. for what it was. like in the u.p.a. the previous regime. cronies. ended up getting more loans to pay back then only on loans the government has accused u.s. banks found and his family of laundering around $600000000.00 by receiving kickbacks for extending lawns that couldn't be repaid kapoor's lawyer says he's being made a scapegoat 5th largest private analysts say the toxic loans crisis goes beyond a few bad apples it's the 3rd time in a year that india's reserve bank has intervened to rescue a lender the where are bad loans. have plagued our economy our our financial system the last 5 years. had been hoping for a snort drained rick you know they wanted a soft lead the problems that they were they were looking over it but in this business that is north kor

over the course of the day we will be taking a look at the story about india's 4th largest private yes bank shares that have plunged more than 70 percent after the central bank seized control and imposed withdraw limits now that's it from me and the business to hear. more business news features and stories. websites that support. business also follow us on social media for your comments on facebook and twitter. with current help stay with us up next for off. thanks for. what secrets lie behind. discover new adventures in 360 degree. and explore fascinating world heritage sites. world heritage 360 get the map now. good use crime fighters are back africa's most successful in radio drama series continues this season the stories focus on hate speech cholera prevention and sustainable local introduction. all of the sos are available online and of course you can share and discuss on africa's facebook page and other social media platforms. foreign fighters to news down. here. the fact that the. greetings from berlin and welcome to arts and culture a blockbuster exhibition marking the 500th anniver

and let's see business shares in india's yes bank have plunged by as much as 85 percent the central bank has imposed withdrawal limits for cost measures to prevent the collapse of the private lender it sent the rupee falling to its weakest level since 2018. thousands of customers all across india have rushed out to a draw their money from bank but they can only get $50000.00 rupees per month that's around $600.00 euros one of india's largest banks is now under direct control of the reserve bank of india that guarantees all deposits are safe and that nobody should worry about their money but the issuances are easing everybody's mind .

do you see it having an impact beyond what we are seeing at yes bank? is going to have a much .roader impact this is a post bailout of the bank. you can imagine what it does to sentiment. the smaller banks are going to be the recipients of the blow. there may be a broader shift of the deposits. some of the private system -- [inaudible] struggle after the ride down at yes bank. this is a new era. [inaudible] need stronger resolutions in india now. thaten: can i be confident the policy makers and regulators have the capacity to make sure that things don't get out of hand? the phrase credit crunch has started to get floated for the andt time since the crisis those things merging with the india story is perhaps the perfect storm. >> you are bang on. this is completely not a good time. the crunch and liquidity is becoming an issue, it should have gone down better than it has. they are not allowed to sell. these controls have the opposite impact. the objective was not to benefit the shareholders but to somehow rift. the systemic it is something we are worried

the indian government is buying a 49 percent stake in the yes bank in order to keep the troubling lender afloat yes as india's 4th largest private lender has been struggling with bob loans shares fell following united's and. j.p. morgan chase boss jamie dimon is recovering after undergoing emergency heart surgery the 63 year old is the longest serving head of a major u.s. bank he's been c.e.o. of j.p. morgan since 2005. now every year tens of millions of tons of food go to waste also perfectly good products are thrown away because they're pos they're used by days now a group of researchers has come up with an innovative solution to the problem. many of us rely on them to tell whether the food in our fridge is safe to eat only not but could we soon see the end of the humble used by date. a group of innovative researches from 4 different cities in france and belgium hope we will they're developing a high tech alternative many senses implanted in packaging the chips will be able to literally sniff a food and accurately detect the extent to which it's decomposed or rather chemical methods to

yes bank is taken out of moratorium.here is a tightening of financial conditions given yes bank is india's largest private sector to -- largest private sector bank. but sbi has acted swiftly to prevent contagion. also follow quickly with long-term operations to significantly losing the interbank market. i don't think there could be any significant concerns emanating in terms of contagion. >> thank you. apoor joining us from mumbai. inflation numbers out of india later today. we will talk more about oil coming up. brent crude's down 5% during the asian session. this is bloomberg. ♪ >> stocks falling fast and furious. the headline coming through, the msci emerging markets stock index down 20% from its big set for bear market. when it falls into their, it will join the likes of the dow, which is in bear territory, and global stocks in general poised to be in bear market as well. crude, brentook at down more than 5%. at the latest business flash headlines. systemwidetting capacity by 15% as it looks to mitigate the impact of

chosen india's struggling lender yes bank have jumped more than 30 percent of the taking on friday on fears it will collapse last week the reserve bank of india took control of the company and imposed cash withdrawal limits now says it intends to invest in a 49 percent stake in s. bank as part of a rescue package and the deposit has need not worry about this a. business of. as old as the pyramids. perhaps. what exactly are we referring to. the $170.00 stone piles on lake constance. it's baffled researchers for years. can an expedition shed light on this phenomenon tomorrow today. in 30 minutes on d w. every journey begins with the 1st step and every language but the 1st word published an eco. rico is in germany to learn german why not come with them simple online on your mobile and free to suffer d w z learning course nikos speak german made easy. world sex. to go beyond obvious. that we're on live. as we take on the world. we're all about the stories that matter to your country. what ever is. running out of touch. alcohol d.w. made from minds. they're on a mission. to save the. comic

chosen india's struggling lender yes bank have jumped more than 30 percent off the taking on friday on fears it will collapse last week the reserve bank of india took control of the company and imposed cash withdrawal limits now says it intends to invest in a 49 percent stake in s. bank as part of a rescue package and the deposit has need not worry about this side. business of it. the funny. thing. as old as the pyramids. in cars. is what exactly are we referring to. the 170 stone piles in lake constance. it's baffled researchers for years. can an expedition shed light on this phenomenon to morrow to. 90 minutes on d w the beethoven piece for me the beethoven is for you. the beethoven is for hell a. great open. beethoven is for the. beethoven is for cars. is for the above beethoven 202250th anniversary here on d.o.a. oh ho. i'm secure that of my work that's hard and in the end this for me you are not allowed to stay here anymore we will send you back. are you familiar with this. the smugglers would lie and say. what's your story. 'd 'd on what numbers of women especially of victims of

obviously there's the coronavirus concerns, at least yes bank, theto fears of a run on a bank has recededf the few stocks to gain yesterday. can that continue? >> that is true. what we are witnessing right now appointed --ewly suggested that the monitoring on yeswhich has ended bank yesterday and we haven't seen as much withdrawal as expected besides the fact that we have a lot of consortium of banks putting in more funds in yes bank come is why we're seeing more advancement there, as well. advance in the nifty banking index. perhaps initial indications of returning to one of the largest private sector banks that is yes bank and that is the important factors which is leading the time.s at this point in yvonne: thank you, joining us out of mumbai. of cases ine number india, a rise of 10 infections now 147.st 24 hours to let's get to our next guest. few weekses the next will be critical for india to determine the curve and spread coronavirus. let's bring in shibani kurian, with kotak mahindra asset management joining us from mumbai. a lot of questions on how accurate these numbers of cases

talking about, the other big headline story was about one of india's third largest lenders, the yes banks, which saw the market is going to a tizzy so the markets are under pressure over that concern. at a time you have the coronavirus, it all kind of became a combination of factors which saw the market reacted the way it did. today is an indian festival so markets will remain shut but tomorrow will bea will remain shut but tomorrow will be a key day. at the height of all the volatility we saw on monday, a p pa re ntly the volatility we saw on monday, apparently the fed injected funds to stabilise the market. will we see something similar in india? at the moment, not getting a sense of that. the department of finance and economics is says these are all factors that happen from time to time to the internal economy is fairly sta ble time to the internal economy is fairly stable so there is no worry. as another section which believes the lowering of crude prices will be beneficial to india because it reduces the foreign—exchange outflow. there are mixed concerns at the moment in the indian

in the latest blow to hit india's troubled yes bank, its founder has been arrested for money and question 20 hours by officials. the country's fourth largest private lender has been struggling with bad loans. tesco may pull its business out of asia. the british retail assessors considering selling its profitable operations in malaysia and thailand in a deal that could be worth well over $10 billion. the company confirms it has received inbound interest but hasn't named the potential buyer or buyers. tesco outlets in southeast asia employ around 60,000 people in 2000 stores. the coronavirus outbreak has led to conferences and trade fairs being cancelled worldwide because of the middle east is no exception. the uae has advised its citizens and residents against non—essential travel and closed schools for one month. but conventions are an important part of dubai's economy, so how are organisers coping with this? our middle east business correspondence visited a couple of events that decided to still go ahead. superhero masks are a popular site at every comic—con event, but in the middle east

travelers over in india the sense i had a nasty week crashing 3.3 percent as regulatory cars and yes bank triggered a crisis of confidence among domestic investors the state bank of india was directed to bail out the troubled lender leading to questions now surrounding the stability of the indian financial system. down in australia the r.b.a. cut its rate by $25.00 bit 2.5 percent a new record low but despite this the f.x. is down 3.5 percent for the week with almost every sector posting heavy losses and finally in south africa all shares is down as a country come from the 1st case of coronavirus now over demand for the rest of america kristie thank you for that well over in europe let's just start here it was to say the least a very rough week thanks to not just the coronavirus fears but this week the actual spread of the virus the corona virus is spreading quickly across europe with italy resorting to emergency measures through plans to close schools and universities potentially setting a precedent really for the entire rest of europe now in france the cac is down in germany the dax is

so does definitely get there and there are definite making a mark here and shaking up the banking industry yes it is competition on the same or what are the true traditional banks talking about it. well the traditional banks have been trying to target mainly the lower income markets because the us does a lot of people here that have been complaining about bank fees so van fees are very expensive and that's why these digital lenders are now saying like look we don't have branches we don't have brick and mortar building so we can actually keep those fees quite low and they're also saying like look you convenience so you know go to a supermarket speak and pay transact and deposit your money so that's also something that actually people are liking here at convenience part and as you say it's also they have less documents if you if you go here to a traditional bank you often in december you slip to open a bank accounts and a lot of south africans are working in the informal sector and don't have that so at the time i actually am going to get we need to go and see how these traditional banks that re

think you can be cynical and look at meeting, say what the heck is going on or say to yourself, yes, banks in much better place than 12 years ago in throes of the financial crisis and whatever mnuchin or the treasury puts in place to help businesses right now, it's going to be a private/public partnership that gets it done. i think will instill confidence in investors once we get plans on that, maybe stop seeing extreme volatility in stock market. and it's encouraging it found a floor. not much above zero but a floor. i think everybody would be happy stabilized around 1% bring in the ceos, have them be confident, make commitments to help out and stem the tide before it becomes a financial crisis. >> this is what he does here, find a bright spot with the ten-year yield good to find any glimmer in the market more out of d.c. kela >> spoke with people familiar with the conversation that took place after the cameras left the room and whether the president gave any indications about the economic and health measures he plans to announce tonight. described them as unprecedented and signaled he ha

india's struggling yes bank facing more difficulty with potential investors laying down tough conditionsw much needed capital. they have all expressed an interest, but only if sovereign banks are involved. both the indian government and to, a round of $1 billion meet revelatory requirements. nearly all the engines ordered for the next generation f-35 jet fighters were delivered late last year with brett and whitney blaming issues on parts and suppliers. 85% of deliveries for the stealth fighter missed the deadlines. the $428 billion program has been plagued by setbacks. a decision on whether to move ahead with full production is expected later this year. those are our business flash headlines. meantime, earlier today, the u.s. federal reserve voted to cut interest rates by a half percent to fight demand shock amid the coronavirus. u.s. stocks dropped and treasuries surged. as investors were the measure will not be enough to combat the economic impact. scott minor, guggenheim partners chief investment officer, thinks equities could tumble even more. he spoke to tom keene and scarlet fu ov

right so what we really need to see is that when where is this medical issue going to go it's yes central banks are providing some kind of bomb or cure to the market but it's not really of cure all it's a bomb right right but but i mean central banks i mean for this that's where we don't know just let me ask you i mean investors they look for some sense of security in central banks have stepped in why isn't that enough for investors to somehow help stabilize the market. where at the end of the day when you look at what's happening with respect to economic data what we're seeing is a contraction in demand as well as activity and until we see that people are comfortable enough to step out of their houses and then come in and fuel the demand we don't think we are likely to see markets recover from a sentiment both specter ok so we need a sense if not all morgan need a sense of normality i get for of you me to some of the fidelity investment in hong kong things as. the wall european markets also started trading and my colleague chelsea delaney keeps an eye on the trading floor in front for chelsea

banking? stephen: yes i ended up working for an investment banking firm.hought i would go back to detroit eventually. it was like i came home to a place i have never been. once you go to new york, it's an exciting thing. david: you work at bear stearns and you got fired. stephen: right. david: is that because you were smarter than everyone else and they didn't like smart people? stephen: that sounds good. [laughter] david: how hard is it to call up your mother and say i have a law degree and a masters in tax and i have been fired. is that hard? stephen: i needed money. i wanted to stay in new york. i didn't think i would be able to get a job or go through that process again. i thought at that point in time, what do i know? where are the great opportunities and where are my interest and passion? i thought of a process and wrote out a business plan and i started my own company. david: your mother loaned you $10,000? stephen: i had to live. david: did you pay it back? stephen: yes. david: she didn't want equity in your company? she would be pretty wealthy. st

india's embattled yes bank after the r.b.i. stepped in and pledged a rescue plan within 30 days. ed withdrawals to the equivalent of $880 million. it removed the board. the state bank of india, the nation's largest lender, will lead a consortium which will inject new capital into the bank. yes needs around $1 billion to remain viable. i want to get a check on u.s. markets. up and down day. day.thes a down s&p 500 off about 3.4%. transportation hit the hardest. airlines with a lobbying group seeing a few hundred billion dollars of revenue. with the bond rally, the financial index off about 4%. the vix closing near 40 gets my attention. those are levels previously not seen. i do want to talk about the big bond rally because it is all about that 10 year falling down 14 basis points getting below 90 today. you just heard from robert kaplan, the fed doing their job steepening the yield curve to about 28.5 basis points. that curve still remains in fully negative territory. down about -62 basis points on the five-year tip. gold, we were approaching a seven-year high almost at $1700 now,

bank. that yes yes. yes yes. i guess yes no no. emergency sure what of course i'll flood that you're one of the no call mom but look another person the money more limited to be a friend yet no not the one you're someone i want to share i don't. question but that's a normal if a little but you don't have to listen that i have the full 1st what i asked them. to do would have had that one arm of water that for their shoe. my but i'm here she had at the door was that i know you're not i'm hard to get us on how or when but that i'm not her cloak. i'm done not for the chicken i am. chancellor michelle when in terms. of our angle what. will i get a long day. and how could we ask. for all who home from work the one who one guest. can cause for national school moral. verisign join yes. i am also one enjoying being. chained rather than a will. run with the washer the. guy and i think they. are the love i have of my use of the colons i have a certain. ok to lead that i will be up and if i haven't already met or was there watch. the show the j

reading the book can we talk about justice kennedy son and the role he may have played and deutsche bank? >> yes. everybody is interested. those deutsche bank for ten years from 98 or 99 through 2009. and then called the commercial real estate business of the investment bank. his job was to make big commercial real estate loans with the construction of high rises and hotels and then package them into bonds and kennedy's role was the second half of that process so he say i will then to you but if we lend to you this is how we can package and sell it and our expectation affects how much money we can afford to lend you and the interest rate. it sounds technical and complicated but it is the most important part of the lending process. kennedy had a strong personal relationship with donald trump and ivanka trump as well and one of the people in a number they gave a loan to trump to build a huge skyscraper in chicago and kennedy was a lead point man in this was a stable loan for trump and deutsche bank because may 2005 and a few years later the financial crisis happens and trump is having trouble sell

yes. central banks never like to but ithey are out of due, think they are pretty much close to the limit of. the fed is clearly not prepared to take the fed funds rate negative, but we think they could make more aggressive use window,iscount potentially take the discount rate negative. that would be one way to perhaps mimicked what we have in europe, with the targeted long-term refinancing operations. that is the way of incentivizing banks to push out loans to businesses. we would argue that in this environment, and that sort of support is definitely what is needed. obviously, you need to make sure that your financial sector is as sound as it can be and banks are in a solid addition, but also, thanks -- in a solid position, but banks need to be encouraged to push out loans to companies as well. yousef: there are always calls for more and more from fiscal and monetary authorities. maybe we should ask the question whether the existing steps are being worked out correctly. gtv for our clients, probably the most important chart at the moment when it comes to liquidity injections by the fed

bank. it's the corporation that's going to keep your money safe. your savings account, checking account, money market deposit account and your cds. yes, big banks have this fdic insurance for these accounts but some smaller banks do as well. you need to go to fdic.gov. go to the bank find and look to see whether or not your bank has the fdic insurance to ensure your money is safe. up to $250,000 per deposit account is the amount insured. you want to make sure you have that type of insurance on your money to make sure that your money is safe. >> ron, real quick response. the banks have been going through various forms of stress testing to make sure they can withstand some financial crisis. i know the rules have changed but shouldn't the banks be able to handle this based on the fact they were supposed to go through the tests. >> they are better cap tiled than going into the crisis of 2008. they have liquidity relative to normal circumstances. the question question is whether or not and it's not like 2008 where the banks are the locust of this crisis. we have a health carry and global economic crisis weighing on the systems. the federa

yes, banks need to work with the entire u.s. industry and other industries to help them through this situation but we don't want to turn one crisis into a new one and invent one that we have to solve. so i would say that banks themselves are part of the solution u but they have to manage their own solvency as they go through this and them just making loans for the sake of making loans, at the end of the day, won't help anyone and then we'll have another crisis to solve. >> the banks gary as you well know all suspended their buybacks on sunday the following day, they all announced they'd been tapping the fed's discount window. what do you make of that do you think it's a sign of weakness >> historically, no one tapped the discount window. no one wanted to many banks were asked, they did it together. many of the reasons that banks are tapping the discount window now and this is a longer discussion, has to do with a lot of the regulation that was put in place after the 2008 financial crisis banks operate under a lcr, liquidity leve