is being accused of being their slum lord it's a german banking giant deutsche bank and artie's among glinda shows us how it's just one part of a nationwide crisis. roach infested ations cracks in the walls mold growth mounds of trash these are just some of the deep horrible conditions that low income families in los angeles are dealing with. at night i have bugs crawling on my arms and on my face and the mice make noise at night and make me lose a lot of sleep and they keep painful you cross a garcia is angry over the slum conditions that she and other renters have to endure as a result of the ongoing foreclosure crisis empty houses have become a sanctuary for squatters and drug dealers foreclose apartment buildings have thought all into disrepair as the owners ignore their tenants needs many of those owners the world's biggest banks are coming in here in tears saying this is a nightmare with a cat's name. it's affecting their work from l.a. to milwaukee to cleveland cities across america are having a tough time getting banks to maintain foreclosed properties one of the biggest culpr

is being accused of being their slum lord is the german baking giant deutsche bank and as our teaser monga linda shows us it's just part of a nationwide crisis take a look at the story. roach impressed ations cracks in the walls more growth mounds of trash these are just some of the deep horrible conditions that low income families in los angeles are dealing with. at night i have bugs crawling on my arms and on my face and the mice make noise at night and make me lose a lot of sleep making. process is angry over this long conditions that she and other ranchers have to endure as a result of the ongoing foreclosure crisis empty houses have become a sanctuary for squatters and drug dealers foreclosed apartment buildings have fallen into disrepair as the owners ignore their tenants needs many of those owners the world's biggest banks people coming in here in tears you know saying this is a nightmare they can't see. it's affecting their work from l.a. to milwaukee to cleveland cities across america are having a tough time getting banks to maintain for close properties one of the biggest c

is being accused of being a slum lord it's a journey german rather banking giant deutsche bank in this case but our t.v. shows us how it's just part of a nationwide crisis roach in paris stations cracks in the walls walls growth nouns of trash these are just some of a deplorable conditions that low income families in los angeles are dealing with. at night i have bugs crawling on my arms and on my face and the mice make noise at night and make me lose a lot of sleep make you. dress a garcia is angry over the slum conditions that she and other ranchers have to endure as a result of the ongoing for a closure crisis empty houses have become a sanctuary for squatters and drug dealers foreclose apartment buildings have fallen into disrepair as the owners ignore their tenants needs many of those owners the world's biggest banks people coming in here in tears saying that this is a nightmare that they can't sleep. it's affecting their work from l.a. to a walkie to cleveland cities across america are having a tough time getting banks to maintain foreclosed properties one of the biggest culprits

to credit suisse forty five billion dollars and deutsche bank which is now being bailed out on the backs of the greeks but the fact is that these banks who are now occupying greece would not even be alive if it were not for the rearming in the region you know the read giving of of ammunition of weapons to these banks by the u.s. taxpayer who is backing the fed ultimately that's right the money comes from the u.s. taxpayer yeah that's right so if you start by the way fifty million unemployed they can't i see that in america they go to hospitals they don't know that the price of medicines are so high they're substituting like penicillin they're substituting with cheddar cheese you go for blood transfusion and they stick marshmallow fluff they don't have enough money to give you medicines to support this global scale that's why people around the world are rising rising up but the other point here is that ok we're being told that the whole financial system is going to collapse if we don't bail out the way to the bank forcing the greeks to hand over the rest of their children's and their futu

there was advertised as from deutsche bank and deutsche telekom. >> we have invested 120 billion euros in european state bonds. 60% of our portfolio is invested in european companies. we have a strong presence in the eurozone. we are firm supporters of the euro and wanted to be strong. >> the return to stable financial conditions will cause many billions of euros but our common currency is worth the effort. thiss an appeal for it either leaders to help countries like greece with billions of dollars. first, politicians want to see greece implement more austerity measures and they want private sector lenders to help to shoulder the burden. major corporations feel they clearly benefit from the euro but there is no suggestion in the text that these companies want to help pay the cost of a rescue. >> to be set taking their toll on german investor confidence. -- these are taking their toll on german investor confidence. this is at the lowest level since january of 2009. the index has been sliding in recent months in a deepening concern about the debt crisis. analysts surveyed fear that the e

there was advertised as from deutsche bank and deutsche telekom. >> we have invested 120 billion euros in european state bonds. 60% of our portfolio is invested in european companies. we have a strong presence in the eurozone. we are firm supporters of the euro and wanted to be strong. >> the return to stable financial conditions will cause many billions of euros but our common currency is worth the effort. this is an appeal for it either leaders to help countries like greece with billions of dollars. first, politicians want to see greece implement more austerity measures and they want private sector lenders to help to shoulder the burden. major corporations feel they clearly benefit from the euro but there is no suggestion in the text that these companies want to help pay the cost of a rescue. >> to be set taking their toll on german investor confidence. -- these are taking their toll on german investor confidence. this is at the lowest level since january of 2009. the index has been sliding in recent months in a deepening concern about the debt crisis. analysts surveyed fear that the

a deutsche bank ceo pledged to back the plan. >> if a house is on fire and surrounding homes are at risk, it is not productive to hold a debate on the structure of the house. the fire has to be put out first. >> financial times reports that the banks have sold almost a third of their greek bonds. despite german central bank figures that shows that german banks held 16 billion euros worth of greek bonds. critics accused german banks of breaking their promise. apparently, a business is business, especially when it comes to shedding millions of risky bonds. >> i asked him at if the risks are simply too high. >> i am not sure whether it is correct that there is a lot of selling activity by financial institutions. certainly it maturing bonds will not be automatically replaced by new bonds. the amount of bonds may be declining on balance sheets. i do not think there was a big selling spree because the prices for great bonds are very depressed. there is a huge risk premium in the present crisis. it is the decision of every investor saying i will stick to my exposure in greece because the policy

the ceo of deutsche bank and others expressed satisfaction. they have been negotiating the issue of involving commercial banks in rescuingn greece and giving athens more time to repay their debts. he indicated he was ready to help. >> i am assuming we will attrit ---- conibute to a solution. we are not doing it gladly, but we are acting to do what needs to be done to avoid a meltdown tomorrow. >> the german government is relieved at the news. though the greek crisis is far from over, the euro zone has won itself some much-needed time. >> investors have been betting on the greek government approval of the us. package. -- approval of the austerity package. the euro has been recovering after several weeks under pressure. the markets are hoping this will prevent the crisis from spreading to other indebted states in the euro zone. so who is profiting from all of this? koran as the markets go, it i is time to go to frankfurt for our correspondent report -- as far as the markets go. >> the best performers on the trading floor in frankfurt, and this h

the ceo of deutsche bank and others expressed satisfaction. they have been negotiating the issue of involving commercial banks in rescuing greece and giving athens more time to repay their debts. he indicated he was ready to help. >> i am assuming we will attrit ---- conibute to a solution. we are not doing it gladly, but we are acting to do what needs to be done to avoid a meltdown tomorrow. >> the german government is relieved at the news. though the greek crisis is far from over, the euro zone has won itself some much-needed time. >> investors have been betting on the greek government approval of the us. package. -- approval of the austerity package. the euro has been recovering after several weeks under pressure. the markets are hoping this will prevent the crisis from spreading to other indebted states in the euro zone. so who is profiting from all of this? koran as the markets go, it i is time to go to frankfurt for our correspondent report -- as far as the markets go. >> the best performers on the trading floor in frankfurt, and this ha

steel were upgraded to buy at deutsche bank. the analyst thinks steel pricing will strengthen. both stocks were up more than 5%. allegheny tech also benefited from the bullish sentiment, gaining more than 4%. homebuilders were hurt today. k.b. homes fell hard, down 15% as volume spiked to more than seven times the normal pace. really falling off the shelf. shares are at their lowest price since last august. and this was the fuel-- a much- worse-than-expected quarterly loss. it delivered fewer new homes and saw a drop in new orders. news corp sold its myspace business for a fraction of what it paid for it. remember back in 2005, newscorp bought the then-number-one social networking website myspace for $580 million. today it sold it for $35 million to an ad targeting firm. shares of newscorp added about 1%. bit of a relief rally. and that's tonight's "market focus." >> tom: on friday, automakers release june sales figures. it has been a month marked by high gas prices, higher vehicle prices and a shortage of some models. tonight's "street critique" guest isn't hitting the brakes.

now today deutsche bank c.e.o. said that if the greek problem spreads to other countries it could top lehman brothers in terms of contagion for the world financial system. tell us what you see as the best scenario that investors can expect and the worst. >> the best scenario is that we get a greek population that is willing to sacrifice for a number of years. official creditors willing to put in money and private creditors willing to roll over, the op rat difficult approach. low probability but if that happens it will quiet down greece. the worst probability is we get a situation where not only greece defaults but suddenly portugal are pushed to the edge and people will ask questions about italy and spain. i think right now we're looking at a situation where most likely greece will restructure. that most likely the other two countries are going to come under pressure but the crisis can be contained from going to spain and italy. and spain and italy are important because they're very large in relative degrees. >> su

bank believes other events will have great. replications foot of water main break is mostly price to be in the middle of the market strike in the past in the past several days but on the other hand investors hold poor under greek thought probable soul will not appear at least for the next several months the most important of the greek water will be at the end of one of the fees and in the us on the thirtieth of june and the fact that we can get the start of corporate reports and susan in the states for the second quarter we expect this will take a bigger role than cold and this practice will outline the trend of the market in the beginning of july. that's all the nation's business is i have for you you can always find most always just look on top websites. the be. the be to. the of the be. the best sleep. the be. the be. wealthy british style the book i'm writing the book that. hi guys.

bank believes other events will have great. positive or to linger because i'm most impressed even knew told me my construct in the past few feet in the past several days but on the other investors cold put on the full problem sold well multi p.s. at least one the next several months the most important so after three quarts will be in the ample quantities and in the us on the thirtieth of june and the first on the content and the start of course for the reports and susan in the states for the second quarter we expect this will take me down all the good he called this fact this will fly in the time to hold the markets in the beginning like. that's his business is i have for you you can always find most stories just log on to our website r.t. dot com. in the.

stocks among the losers across europe shares a common bank slumped five percent while deutsche bank fell one point four percent upside telecom equipment for a market sell you soft rose three point four percent handset maker nokia at two point eight percent and here in russia stock exchanges closed in the red on monday on negative sentiment over greek debt by six and it came off a percent lower than the us has most of the signs now let's have a look at some individual shot news from isaac's four majors were among the main news following the downturn in crude cross here and in the red well look call from a slightly higher banking stocks are also under pressure would spread bankers in some. sort of business news for now but don't forget you can always find most stories on our website. culture is the same realm of experience the meaning of life is a real commitment to be your own and it's meeting with destiny the greek government survives a vote of confidence as its crushing debt ordeal continues unabated. to . the limits. it's just simply. just some is. coming. down minimum is what i w

their service of all it's coming from deutsche bank the second of the current oil price and light sweet is trading at over ninety and a half dollars per barrel is dropping yet again another fifty five cents so is brant sixty seven cents down. in asia stocks are therefore under pressure and we could prove the financials are also down european debt worries world's top central banks have decided most important lenders are to carry an extra capital buffer heavyweight asia's p.c. is down more than one and a half percent in hong kong weighing on the handset. rochelle trading will begin in two hours' time the markets finished friday's session in the black both reality as my sex put on one and a half percent with banks and really. now looking ahead to the trading with peter weston from baton believes direction is hard to predict although sentiment will probably continue to be dominated by the summer and the crisis in europe this will probably be another greek week given that at the end of the week we're going to have the voting by the greek parliament on the austerity measures and even though t

bank says the effects are likely to be short lived. i really think the effect of these measures will prices is likely to be transitory i don't think it's going to have a long term significant. i think the reason why you do have an emphatic reaction from the markets is the possibility of such measures being undertaken in the possibility of them being with pete it in the future but i think is what is accounting for such a significant reaction but if things are left that and there is no continue with. sort of effort on the part of the developed world to try and raise will supply then i think it's likely to be a significant factor in the determination of oil prices for this year and we continue to project world prices averaging one hundred seventeen point five dollars poorer per barrel. all right let's look at the current oil price in light sweet as trading at just above ninety dollars a barrel brant is falling one and a half dollars two hundred three and a half in asia energy stocks are under pressure therefore we could crude financials a

stocks among the losers across europe shares of coma's bank slumped five percent while deutsche bank fell one point four percent upside telecom equipment. rose three point four percent. of maker nokia at two point eight percent and here in russia stock exchanges closed in the red on monday on negative sentiment over greek debt minus six and it came off a percent lower than the articles on their side and now let's have a look at some individual shanmugam isaacs oil majors were among the main news following the downturn in crude and in the red well look call it a slightly higher banking stocks are also under pressure would spread by increasing the size. of business news for now but don't forget you can always find most stories on our website www dot com. culture is that so much of the taxpayers' money i mean even exist in the real mysterious my dear old and it's meeting with destiny the greek government survives a vote of confidence as its crushing debt ordeal continues unabated. on. the limits to just simply. what i was just thinking about my future before the foreign companies came i

the service of all it's coming from deutsche bank this is going to be current oil price and light sweet is trading at over ninety and a half dollars per barrel is dropping yet again another fifty five cents so as brant sixty seven cents down. in asia stocks are therefore under pressure on week crude financials are also down european debt worries world's top central bank some decided most important lenders who carry an extra capital buffer heavyweight asia's p.c. is down more than one and a half percent in hong kong weighing on the handset here in rochelle trading will begin in two hours time the markets finished friday's session in the black crowes the r.t.s. a nice mix put on one and a half percent with banks and really. now looking ahead to the trading week peter weston from the town believes direction is out to predict although sentiment will probably continue to be dominated by the sovereign debt crisis in europe this week and probably another greek week given that at the end of the week we're going to have the voting by the greek parliament on the austerity measures and even though

bank and credit suisse and soc gen and b m p perry about why only those banks because as we've explained it these are the new jim crow laws it's a form of discrimination if you're greek you're it's the equivalent of being black in america before the civil rights movements you have to sit at the end back of the bus if you're greek in this environment you're treated like a second class citizen as jim crow laws financial jim crow laws using interest rates but i also think that this tarp will be known in the future as the smoot hawley tariff of this great depression you know many say that the some holy tariff which was a huge tariff that america placed on. imported goods. in order to deal with the great depression in fact it caused the deep spiral pulse the crisis to get worse and i think you'll see that all these bank bailouts has become a matter of principle that they no matter what have to bail out these banks and we see despite the evidence spite the deaths files the death spirals the rising up of people around the world they just refuse to back down from this losing bet not bailouts of

bank and credit suisse and stop jan and b m p perry about why only those banks because i've explained it these are the new jim crow laws it's a form of discrimination if you're greek you're if the equivalent of being black in america before the civil rights movements you have to sit at the end back of a bus if you're greek in this environment you're treated like a second class citizen as jim crow laws financial jim crow laws using interest rates but i also think that this tarp will be known in the future as the smoot hawley tariff of this great depression you know many say that the smoot hawley tariff which was a huge tariff that america placed on. imported goods. in order to deal with the great depression in fact it caused a deep spiral caused the crisis to get worse and i think you'll see that all these bank bailouts has become a matter of principle that they no matter what have to bail out these banks and we see despite the evidence to spite the death spirals the debt spirals the rising up of people around the world they just refuse to back down from this losing bet they're not bai

bank and credit suisse and soc gen and b m p perry about why only those banks because as we've explained it these are the new jim crow laws it's a form of discrimination if you're greek you're if the equivalent of being black in america before the civil rights movements you have to sit at the end back of the bus if you're greek in this environment you're treated like a second class citizen as jim crow laws financial jim crow laws using interest rates but i also think that this tarp will be known in the future as the smoot hawley tariff of this great depression you know many say that this new holy tariff which was a huge tariff that america placed on. imported goods. in order to deal with the great depression in fact it caused a deep spiral it caused the crisis to get worse and i think you'll see that all these bank bailouts has become a matter of principle that they no matter what have to bail out these banks and we see despite the evidence fight the death spirals the death spirals the rising up of people around the world they just refuse to back down from this losing bet and that bailou

bank and credit suisse and soc gen and b.m.p. peri about why only those banks because as we've explained it these are the new jim crow laws it's a form of discrimination if you're greek you're the equivalent of being black in america before the civil rights movements you have to sit at the end back of the bus if you're greek in this environment you're treated like a second class citizen as jim crow laws financial jim crow laws using interest rates but i also think that this tarp will be known in the future as the smoot hawley tariff of this great depression you know many say that the some holy terror of which was a huge tariff that america placed on. imported goods. in order to deal with the great depression in fact it caused a deep spiral it caused the crisis to get worse and i think you'll see that all these bank bailouts has become a matter of principle but they no matter what have to bail out these banks and we see despite the evidence quite the death spirals the death spirals the rising up of people around the world they jus

stocks among the losers across europe shares of commerce bank slumped five percent while deutsche bank fell one point four percent upside telecom equipment. rose three point four percent handset maker nokia at two point eight percent and here in russia stock exchanges closed in the red on monday on negative sentiment over greek debt minus six and it and the cent lower than the us has lost.

but sergey saw her off at deutsche bank says blue chip names are still the pick of the crop for future dates but as general mistrust for second investors don't invest one second to do three and we can do it there are reasons. that are not good but are many pray that you soon move sheeps as one will probably is the most free one who sheeple why the markets but there are some concerns the thought overcome the risk that they in the september the book will be sold in the month put on them to the market with some discount and the solution with. why is the interest from has been bumping dustball mother knew something of some impacts us all so one for me profit the something not on the steps but most move chips chip on multiples. and i think is a for general optimism not a wife's in the market people will buy most of the chips. that's all the business is fidel but stay with us for headlines with carry up next. twenty years ago in the largest country in the. disintegrating.

that's joe ackerman of deutsche bank. the german and french banks are on the hook for $100 billion in greece alone. that's why we've seen the difficult negotiating which is have come to the brink now. the cabinet reshuffle probably won't do a whole lot on its own. the unity government was a good idea but they didn't get the result they were, looking for. nina. >> john defterios, thank you for that. >>> this global situation weep be talking about something else in the world, the inflation rate in india, just keeps on ridesing. after the break, we'll be talking about hout central bank is spongd responds by raising i rates again. the cream disappears but your wrinkles don't. ♪ introducing neutrogena® rapid wrinkle repair. it has the fastest retinol formula available. in fact, it's clinically proven to smooth wrinkles in just one week. so all you have to do is sit back and watch your wrinkles go away. new rapid wrinkle repair. from neutrogena®. >>> india's ranking among biggest economies is number ten. that's almost what

stocks among the losers across europe shares the promise bank's long five percent while deutsche bank fell one point four percent on the upside from a call in question for arkansas who suffer growth three point four percent. maker nokia at two point eight percent and here in russia stock exchanges closed in the red on monday on negative sentiment over greek debt minus six and it in half a percent lower than the us has lost her son now let's have a look at some individual shot news from isaac's four majors were among the main loose following the downturn in crude crossing and ended in the red well look all in a slightly higher banking stocks are also under pressure would spare bankers and for some. business news for now but don't forget you can always find most stories on our website.

they would have gone to the british banks and to the other banks, hong kong, shanghai bank, deutsche bank and everybody else waiting to steal their people. >> unless the global banking community -- >> took an oath and said -- >> and this governments all around the world when they orchestrated the bailouts said, we'll bail you out and you will all sign up to no bonuses for the next five years. why couldn't they have done that? >> why didn't the government do that? >> should they have done? >> i don't like the government doing it. i'm not going to get trapped into that one. >> interesting that you hesitate. you have always been a big supporter previously, i will grant you that, of allowing people to be paid what they should get in the marketplace. that include it is bonuses. but this is different. this is where these companies have been bailed out by the taxpayer. it's a different scenario. >> i'm giving you that point. i'm giving you the point that they should have been more cautious, but they had a competitive playing field again. and you have seen it. >> they only had a playing fiel

and to the other banks, hong kong, shanghai bank, deutsche bank and everybody else -- >> unless the global banking community -- >> all took an oath and said we will stop bonuses? >> no, and governments all around the world, when they orchestrated these bailouts, said, we'll bail you out and you will all sign up to no bonuses for the next five years. why couldn't they have done that? >> why didn't the government do that? >> should they have done it? >> well -- >> -- big defender of -- >> i don't like the government doing it so i'm not going to get drabbed into that one, okay. >> interesting you hesitate. been a big supporter previously, i'll grant you that, of allowing people to be paid what they should get in the marketplace. >> i do. >> that uncludes bonuses. but this is different. this is where these companies have been bailed out by the taxpayer. it's a different scenario. >> no, i'm giving you that point. that they should have been more cautious. but they had a competitive playing field again. and you've seen it. >> they only had a playing field at all because they were bailed o

before long, that's what the deutsch bank chief was talking about. it's the contagion effect, the fear that one goes, then the next one. that's why they are so desperate to basically stop the rot here. but you can only stop the rot if the people here are prepared to mix my metaphors, to take their medicine. what's happening tonight, you can hear the demonstrations, they are loud, they are noisy, they are angry, they have been violent, and the politicians are starting to say maybe enough's enough. >> in athens, the one and only richard quest. thank you, as always. >>> just about 25 minutes past the hour. time to check in on top stories that we're following. officials say flood waters lapping at nebraska's two nuclear plants are more of an annoyance than a safety concern. even if water gets into the plants, operators say it will not set off a disaster like the one at japan's fukushima nuclear plant. >> i'm 100% confident we're not going to have an issue here. if river level continues to rise, we'll follow our procedures, we'll shut down the plant, we'l

they would have gone to the british banks and to the other banks, hong kong, shanghai bank, deutsche bank and everybody else waiting to steal their people. >> unless the global banking community -- >> took an oath and said -- >> unless governments all around the world when they orchestrated the bailouts said, we'll bail you out and you will all sign up to no bonuses for the next five years. why couldn't they have done that? >> why didn't the government do that? >> should they have done? >> i don't like the government doing it. i'm not going to get trapped into that one. >> interesting that you hesitate. you have always been a big supporter previously, i will grant you that, of allowing people to be paid what they should get in the marketplace. that includes bonuses. but this is different. this is where these companies have been bailed out by the taxpayer. it's a different scenario. >> i'm giving you that point. i'm giving you the point that they should have been more cautious, but they had a competitive playing field again. and you have seen it. >> they only had a playing field at al

and to the other banks, hong kong, shanghai bank, deutsche bank and everybody else who was waiting to steal their people. >> unless the global banking community -- >> all took an oath and said we will stop bonuses? >> unless governments all around the world when they orchestrated these bailouts said, we will bail you out and you will sign up to no bonuses for the next five years. why couldn't they have done that? >> why didn't the government do that? >> should they have done it? >> well -- >> you've been a big defender of -- >> i don't like the government doing it so i'm not going to get dragged into that one, okay? >> interesting you hesitate. you've been a big supporter previously, i'll grant you, of allowing people to be paid what they should get in the marketplace. >> i do. >> that includes bonuses. but this is different. this is where these companies have been bailed out by the taxpayer. it's a different scenario. >> no, i'm giving you that point. that they should have been more cautious. but they had a competitive playing field again. and you've seen it. >> they only had a playi

deutsche bank taking market share from goldman sachs or jpmorgan because that would be a bonus. the u.s. wants to have their banks in the playing field at least on the u.s. territory and also globally. so switzerland has made a very unusual choice out of necessity for the reason you mentioned which is, okay, over with national champions because we can't afford it, and let's be reasonable and leave other countries build huge banks. i'm sure the swiss would agree with this depiction, and it's simplistic on my part, but basically that's what we've seen with credit suisse. so the question is in the future we'll have large banks in this large countries. switzerland is a large country with -- small country with large banks. so now you have u.s., japan, germany and u.k., and china, of course, and probably even france, germany, u.k. are two small countries -- or countries which are too small to support the huge banks they're supporting right now. so we're seeing this very disturbing evolution where in banking and like in other industries because of the relationship between banks and gov

talking about joseph ackerman, ceo of deutsch bank. he said if it's greece alone, that's already big but if other countries are drawn in, it could be bigger than lehman. we all remember what happened to lehman, referring to the 2008 collapse of lehman brothers, it sparked the global financial crisis. lehman went down, aig got a bailout. bank of america took over merrill lynch. it shows how interconnected the financial system is globally. critics say these calls are alarmist because the u.s. can deal with a greece default because these critics say u.s. banks have investments in europe but they have been boosting reserves and can withstand europe's problems better than before the financial crisis. it looks like the markets today are weathering all of the volatility going on in greece right now. the dow up 118 points. investors at this point are optimistic that a deal can be worked out. >> a little bit on the lighter side, we have somebody we think is really upset about all the cuts in greece. the stray dog. take a look at him. he might b

chief executive of deutsche bank's operations in the united kingdom told the recent annual conference of international capital market association. he goes onto say, he said europe's reforms of over-the-counter derivatives were so for more pragmatic than those in the u.s., and much more in tune with the derivatives markets. derivatives are like cars and guns, and this is a quote from him, not inherently bad. it's what you do with them, he said. if they do what they should do, they play a very important role. europe understands this, he says. the u.s. has failed to understand it, unquote. now, you know, i listened to the testimony today, and you through these phrases around like the rest of the administration, to be honest with you. i sit on banking, i sit on a. this parade of people, and taxpayers on the hook for $180 billion. i'm so tempted to walk through where that money went to with you, but i will spare everybody that. you talk about the american public is currently unprotected. you talk about capital and risk know no boundaries, et cetera. all of the right things to say. but i si

may opt to dilute its share by bringing in new bank investors. is deutsche botheerse still considering this strategy? >> ise owns 31.5% of direct edge. when you translate that based on their market share of how much equity volume they trade, that's a little less than 3% of the average daily volume in the equities market. we have shared this information with the department of justice and they're reviewing all of the material that we've provided. it would be too soon to theorize as to what their potential response would be. and what they would ask deutsche boerse to do with direct edge going forward. >> i thank the gentleman. the gentleman from florida, mr. deutsche, who i guess will disavow any affilation with deutsche boerse is now recognized. >> thank you, mr. chairman. i was just thrilled to see that this hearing is about anything having to do with deutsche. mr. lebowitz, if i may, if you could walk through, please, just some of the, if you could address some of the questions that stem from your earlier comments. you acknowledge that the new yo

to deutsch an sba loan. but the bar were themselves shouldn't really be experiencing more problems. >> i had a great pleasure of having an sba loan at one time. it was a great experience but it was the conventional route was always preferable. yes, sir. >> i would add that we really haven't had an sba loan it looks like i'm going to be going after one. and i will just give you the real world perspective on that. in the past if i put a new unit and orie restaurant in i typically am putting a lot of capital in the already in addition to the loan and in times past i may not have had to guarantee the loan personally, and in fact i wouldn't do it unless i absolutely have to in today's environment every bank is making me guarantee that flem personally. so now, faced with the fact i probably can't get the loan at the commercial bank i am now saying okay wife got to go through sba if i want to expand my dairy queen's which i'm looking at right now i'm going to expand my dairy queen to refurbish them through an sba p

. >> german and french banks hold about two-thirds of greed bonds. repayment on the will most likely be delayed. athens is also pushing ahead with privatization, selling off another 10% of greek telecom giants ote, to deutsche read telekom and jayantha -- to a georgia telecom giant. -- anddestche telecom giant. >> for builders of industrial machinery, just keeping pace with demand means working flat out these days. it is a similar picture throughout germany's export industry. despite the euro crisis and upheavals in the arab world, german exports are outstripping role -- global economic growth. in 2010, companies exported goods and services worth 952 billion eus. this year, the german federation says that figure will exceed $1 trillion -- will exceed one trillion euros. as a comparison, the world leading exportist, china, hit that mark one year ago. th are expected to hit almost 16% more this year. china is expected to stay at the top. >> investors arunseled by greec's problems and the general outlook. >> the probable resounding of greek debt to lowe

. >> german and french banks hold about two-thirds of greed bonds. repayment on the will most likely be delayed. athens is also pushing ahead with privatization, selling off another 10% of greek telecom giants ote, to deutsche read telekom and jayantha -- to a georgia telecom giant. -- anddeustche telecom giant. >> for builders of industrial machinery, just keeping pace with demand means working flat out these days. it is a similar picture throughout germany's export industry. despite the euro crisis and upheavals in the arab world, german exports are outstripping role -- global economic growth. in 2010, companies exported goods and services worth 952 billion euros. this year, the german federation says that figure will exceed $1 trillion -- will exceed one trillion euros. as a comparison, the world leading exportist, china, hit that mark one year ago. they are expected to hit almost 16% more this year. china is expected to stay at the top. >> investors are unsettled by greece's problems and the general outlook. >> the probable resounding of greek de

i would like to make that is imported deutsch is to echo a comment made yesterday by mr. kronman church which was also discussed this morning about the question of resolution of large systemically important institutions certainly in the united states. we worked very hard with this committee to make sure that legislation was done in the inappropriate fashion and we are hopeful that both in the united states and outside the united states that resolution schemas recognized as something that's viable. so, my as to number two, the question is we would like congress and regulators to postpone any position on the capitol surcharge until the industry has had time to implement all of the regulatory changes making their way through the system and the effective parties which include the private sector and government conduct a study received what impact this surcharge has on the financial institutions and on the economy. now mr. chairman, one last comment in the letter you asked us to specifically comment on accounting convergence. i can say that from a standpoint we are supportive o

may opt to dilute its share by bringing in new bank investors. is deutsche botheerse still considering this strategy? >> ise owns 31.5% of direct edge. when you translate that based on their market share of how much equity volume they trade, that's a little less than 3% of the average daily volume in the equities market. we have shared this information with the department of justice and they're reviewing all of the material that we've provided. it would be too soon to theorize as to what their potential response would be. and what they would ask deutsche boerse to do with direct edge going forward. >> i thank the gentleman. the gentleman from florida, mr. deutsche, who i guess will disavow any affilation with deutsche boerse is now recognized. >> thank you, mr. chairman. i was just thrilled to see that this hearing is about anything having to do with deutsche. mr. lebowitz, if i may, if you could walk through, please, just some of the, if you could address some of the questions that stem from your earlier comments. you acknowledge that the new yo