Putting pressure on oil markets as well. And marie hoarder me for more. Walk us Annmarie Hordern joins me for more. Walk us through the veracity of the selloff, and does it last . Annmarie the next 24 hours is going to be quite bumpy for this may contract. Basically, it is Financial Derivatives meeting the physical oil market and what we are seeing on the storage side. If you are not out of this position financially and you are a futures trader, you have to accept the physical oil. The problem is, theres really nowhere else to put it. Look at cushing. That storage is quickly filling up, and that is the main hub in the United States, where you have pipelines to canada, the midlands, or the gulf. The may contract now trading at , which3, plus contango means if you look at the june contract, trading at about 23 a barrel, it is about a nine dollar differential, the most on record. If you look down the table of what you see for june, july, august, the prices are certainly higher on the futu
Explosion has killed 62 people in afghanistan theres allegations of mass for the results of the countrys president ial election. Good evening and welcome this is. The spanish city of barcelona is seeing a 6 day of protests crowds have gathered with placards this is the scene there right now theyre calling for the release of prisoners catalan separatist leaders. 1000000 people packed the streets they started fires and brutally clashed with the police. The old the old. The old. His good fortune was in barcelona forests medina we saw the scenes the violence on the streets last night hows it looking this evening. Well protests continue late into the evening this saturday here in this center of course a lot of people are taking it to the streets just as you mentioned for the 6th day and narrow but this demonstration where we are at the moment is slightly different and the difference is people now if you can see the at the crowds and we see mostly young people here many students came here ho
As warren buffet called it use weapons of mass financial destruction so there instead of just trying to be a conduit from the central bank to main street they are saying that we are going to abuse our role as intermediary to coerce you to. Reward us with huge rewards of cash that well then pocket and not circulate in the economy and this is a problem thats gotten worse and worse we saw it in the 2008 crisis where hank paulson went to washington and got the tarp money and we didnt get it the 1st day he instructed his minions on wall street to crash the stock market the next day they did it again abusing their role as Market Makers to weaponize that role. All and then the next day Congress Gave them the 750000000000 which became now 16 or 17 trillion. And so the ability of bankers who have weaponized intermediary Market Making products to cold worse government and to have the media on their side to bankrupt the economy has led to now a situation of extraordinary duress so what hes saying
[indistinct conversations] good afternoon, everyone. Thank you for coming. My name is ben harris, and as of this very morning, i am the Vice President and director for economic studies of the Brookings Institution. It is a true privilege and honor to have the opportunity to again be joined at this famed institution. There are many reasons why i found a return to brookings appealing, but a major motivation is events like the ones we are hosting today. Fdic chair marty gruenberg, who will be introduced by aaron klein and moments, was one of the key officials to help mitigate the fallouts if the Silicon Valley bank and Signature Bank failures early this year. We are very lucky to happen with us today. I suspect that this afternoons event must feel like a bit of a victory lap to the fdic chair given in 2019 he sadness very real and ward in great detail about the risk of failure by a large Regional Bank. His remarks, which are required reading for anyone trying to understand the issue, he w
A little easier to do yours. Sparklight supports cspan as a public service, along with these other Television Providers, giving you front row seat to democracy. Now the chairman of the federal deposit insurance corporation, Martin Gruenberg talks about the regulation of large regional Financial Institutions in the wake of the Silicon Valley and Signature Bank collapses. From the bookings Brookings Institution, this is just over an hour. [indistinct conversations] good afternoon, everyone. Thank you for coming. My name is ben harris, and as of this very morning, i am the Vice President and director for economic studies of the Brookings Institution. It is a true privilege and honor to have the opportunity to again be joined at this famed institution. There are many reasons why i found a return to brookings appealing, but a major motivation is events like the ones we are hosting today. Fdic chair marty gruenberg, who will be introduced by aaron klein and moments, was one of the key offici