Members of Congress Questioning witnesses on their actions and wells fargo and why no one has been prosecuted for the banks consumer buses. This runs two and a half hours. Thank you for your patience. Without objection, this hearing is entitled holding wells fargo. Agree just pattern of consumer abuses. I recognize myself for four minutes to give an Opening Statement. Today, we receive testimony from Miss Elizabeth duke, and mr. James quigley, who until later this week served as chair of the board of directors of wells forego and company, and Wells Fargo Bank respectively. Both have resigned after a call for the resignations. Following the release of a scathing majority staff report on walls far goes compliance failures, and their individual failures as Board Members. The resignations dont absolve meant them of their failures. Directors at wells fargo and institutions across the country must understand that they are the last line of defense when it comes to protecting their companies s
Louns lou announced he is stepping down from his ceo role. And scott minerd will tell us why he doesnt think investors should be buying just yet. We have josh here welcome back to you. Interesting dichotomy setting up in the market. The stayathome stocks versus the gooutside pelaton was just hit on power lunch and netflix, zoom, are all outperforming and the goout stocks, the restaurants, the ubers are all getting hit. Theres the pocket of green there. Yeah. Look at live nation they do concerts. Yeah. Theyre thinking people are not going to go out if and when coronavirus comes here in bigger numbers. So the thing with that is that the danger with that is buying into a narrative because the narrative could be popular for two days and then all of a sudden it goes out of favor and people are like what was i thinking why do i own this stock . Because i think people are going to sit home . However, i do own zoom and another name thats been ripping, teledoc this is virtual doctors visits im
Quarter growth data thursday and after 2 consecutive negative growth quarters it is expected that germany is technically in a recession the Biggest Issue for the country is industrial output which actually fell more than expected in september dropping 0. 6 percent on the month pointing to ongoing weakness manufacturers which are reliant on exports have also suffered from a slowing World Economy and uncertainty linked to trade and to braggs it and while there have been hopes for a turnaround that hope is fading fast as germanys industry is contract ing due to shifting Consumer Trends shrinking investment spend and souring sentiment despite the slight uptick in september Industrial Orders the reality is structural flaws in the industrial sector will hold back in the recovery the reality is this germany is currently struggling with a rapidly aging population which constricts the skilled workers market keeping productivity growth weak a strong rebound will be unlikely a skilled workers fra
Operating with the highest cost in the eurozone with a combined return on equity in the 2nd quarter of 0 that low profitability is a huge risk to the Financial Stability of the local economy as it hampers the build up of equity further stimulus thats also unlikely to be meaningful in a country committed to running a balanced budget well meanwhile wall streets rally which has been rory nover expectations of a u. S. China trade deal has stalled after the Dow Jones Industrial average the s. And p. 500. 00 and the nasdaq all finished at record highs on friday stock futures for all 3 are now lower in fact all 3 major u. S. Stocks indices posted highs and the s. And p. 500 registered a 5th straight week of gains on friday but what seems to be slowing things down christine mentioned it just a minute ago concerns about china pushing for additional tariffs to be removed by the trumpet ministration joins us now to discuss this and other market stories is the c. E. O. Of Euro Pacific Capital Pete
Back rhetoric where promises of a breakthrough fell short and talk collapse at the 11th hour looking further ahead this week we can expect to see more fallout amid trade balance manufacturing and Industrial Production as the global trade weekends germany is set to release 3rd quarter growth data thursday and after 2 consecutive negative growth quarters it is expected that germany is technically in a recession the Biggest Issue for the country is industrial output which actually fell more than expected in september dropping 0. 6 percent on the month pointing to ongoing weakness manufacturers which are reliant on exports have also suffered from a slowing World Economy and uncertainty linked to trade and brags that while there had been hopes for a turnaround that hope is fading fast as germanys industry is contract ing due to shifting Consumer Trends shrinking investment spend and souring sentiment despite the slight uptick in september Industrial Orders the reality is structural flaws in