Live from bloomberg headquarters in new york, this is Market Makers. Washington may have a deal. Closeers are not anywhere to raising the debt ceiling. We will look at the next big fight in congress. Going native, it looks like a headline and reads like a news story but it is not journalism. It is advertising. Regulators may step in to make that clear to consumers. Hungry like a wolf. Leonardo dicaprio. We will introduce you to the real wolf of wall street and show you what he is up to after his fall from grace. Good morning, everybody. Happy monday. This is Market Makers. 10 00 in new york city. Stephanie will be here in a few short minutes. We will begin with the newsfeed. Top business stories from around the world. Stocks are bouncing back this morning after their worst week since august. All the three Major Industries up around one percent. The games withng 173 points. We saw positing positive manufacturing data. Bige could be a very decision this wednesday. In italy, shares opened
Is citigroup. The mortgage meltdown blamed for whats been known as the great recession. Rebecca cooper is live in the newsroom with what we learned about todays settlement. The settlement today still no executives have gone to jail, but the announcement was intended to send the signal that the Justice Department is still punishing and investigating bad behavior by banks that cost many homeowners their homes and the World Economy to crash. They admit they issued mortgages they knew people couldnt pay. They said that the subprime mortgages contributed to the Housing Market collapse in 2008 and the global recession that followed. The banks misconduct was egregious. Under the terms of the settlement, citigroup admits to wrong doing and pays 7 billion. 4 billion will be paid in penalties to the Justice Department. 2. 5 billion will give relief to homeowners and an additional 5 million to states attorneys generalses and the fdic. Just behind bank of america and j. P. Morgan chase. The 7 bill