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ISIS, the so-called Islamic State, has seized Ramadi, a major Iraqi City — creating new challenges for the governments of Iraq and the United States. We hear what it could mean on the ground and for America's presidential campaign.

Also, global banks to pay record fines. On today's Talking Point, a horror story about the mass abuse of women and girls in Nigeria — and what it took to get it.

Photo: Displaced Sunni people, who fled the violence in the city of Ramadi, arrive at the outskirts of Baghdad. Stringer/Reuters)

Producers:
Jenny Hamel
Katie Cooper

Global Banks to Pay Record Fines 6 MIN, 30 SEC

Some of the world's biggest banks have agreed to pay a record total of $5.8 billion in fines for illegal manipulation of dollars and euros on the currency market. Attorney General Loretta Lynch observed, "Currency traders at several multi-national banks formed a group they dubbed 'The Cartel.' It's perhaps fitting they chose that name because it aptly describes the brazenly illegal behavior they were engaged in on a near five year basis." We hear more from David McLauglin who reports for Bloomberg.

Guests:
David McLaughlin, Bloomberg (@damclaugh)

ISIS and the Blame Game on the Campaign Trail 32 MIN, 40 SEC

The Obama Administration was saying that ISIS, the so-called Islamic State, was on the run. Then ISIS took Ramadi, the capital of Iraq's Anbar Province. Government troops, trained by the US, fled from the scene, along with thousands of civilian refugees. It was a blow to Iraq's Prime Minister, Haidar al-Abadi and to President Obama. The White House admits it's a setback -- but not enough to change the strategy of playing supporting role. Republicans say it proves there is no strategy after all. ISIS is likely to be a threat to American interests well into the next presidential term, leaving the candidates to debate a complex and difficult question: Was the real failure Obama's troop withdrawal or Bush's war?

More:
McCain, Graham the fall of Ramadi to ISIS
Gates on the fall of Ramadi
Daragahi on Ramadi's fall casting doubt on al-Abadi's control of the Iraq war
Corn on Jeb Bush's asserations about his brother being misled into war
Middle East Institute on ISIS advances in Iraq and Syria
Lake on Sunni tribal leaders warning against using Shiites to retake Ramadi

Bearing Witness to the Mass Rape of Nigerian Girls by Boko Haram 10 MIN, 53 SEC

For six years, Adam Nossiter, West and Central Africa bureau chief for the New York Times, has reported on the militant group. This week, he reported on the rapes and intended impregnancies of hundreds of girls and women — risking his life to get the story. The story – and the risks it took to get it -- can only be called gut-wrenching.

Special thanks to Paul von Zielbauer for production assistance.

Guests:
Adam Nossiter, New York Times (@AdamNossiter)

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