Donald trump and joe biden face off for the 1st time in the u. S. President ial debates. With fellow very still gripped in a political crisis the french president makes the countrys self exiled Opposition Leader and agrees to mediate in negotiations. And watching r. T. International neil harvey on the team will be back with your close a morning run down and then our best to stay tuned for the kaiser. Hey you know back in 2008 when the had the Global Financial crisis and banks went under Lehman Brothers bear stearns and some European Banks are going to go under that old like meetings all the weekend long and the policy was not to reform banks but to give them a bigger credit line 1020. 00 times bigger at the time we said you know it intended 12 years so if theres going to happen but a lot bigger well here we are 12 years later and the states are just as you said. Its all unraveling again especially with European Banks because they are not the center of the empire they are not rome they
Were back together now with the latest 1st its the kaiser reports. Hey you know back in 2008 when the had the Global Financial crisis and banks went under of Lehman Brothers bear stearns and some European Banks are going to go under that all of meetings all the weekend long and the policy was not to reform banks but to give them a bigger credit line 1020 times bigger at the time we said you know it in 10 to 12 years so if theres going to happen but a lot bigger well here we are 12 years later and the states are just as you said. Its all unraveling again especially with European Banks because they are not the center of the empire they are not rome they are outside so they must suffer but before we get to that fin send story about the European Banks i want to say once again we find toilet paper roll is a precious commodity as lockdowns began apparently there are rush mad rush on toilet paper all over the western world and were seeing shortages of toilet paper again that was also somethin
Hey you know back in 2008 when the had the Global Financial crisis and banks went under of Lehman Brothers bear stearns and some European Banks are going to go under that old like meetings all the weekend long and the policy was not to reform banks but to give them a bigger credit line 1020 times bigger at the time we said you know it intended 12 years so if theres going to happen but a lot bigger well here we are 12 years later in the face of just as you said. Its all unraveling again especially with European Banks because they are not the center of the empire they are not rome they are outside so they must suffer but before we get to that fin send story about the European Banks i want to say once again we find toilet paper roll is a precious commodity as lockdowns began apparently there are rush mad rush on toilet paper all over the western world and were seeing shortages of toilet paper again that was also something we protected. Right so here is the headline from wolf street dot co
A negative Interest Rate environment that is toxic for banks so the stocks 600. 00 banks and x. Which covers major European Banks slumped 5. 7 percent on monday to close at 81. 00 just a smidgen above the mall 5 decade low of 79 set in march the last time before march that the index was below todays level was february of 1988 during the selloff that followed black monday in october 1987 when it also slumped as low as 79. 00 the index has collapsed by 85 percent since its peak and may 2007 after having quadrupled over the preceding 12 years its looking bad right i mean once again and the connections in 1907 black monday the crash of that here is very important because the solution then was to extend Bank Credit Facilities thats how. Greenspan Ronald Reagan and robert rubin the plunge Protection Team or the working group on finance the president S Working Group on finance decided that they would solve this problem by not punishing or reforming but expanding the credit line of these banks