keep it right here. forget the rage. bank of america feeling the heat. from the customers . new report on possible fee hikes is sparking the range. someone said to save the rage for washington. and joining us is mr. christian dorsey . welcome to all of you. you think the government is to blame for rising bank fees? >> how could you not blame the government? first they need to stay out of the way. the foreclosure mortgage bailout garbage. who is paying for that other

than us? and banks have to find a new source of income and believe or not it is fees on you and i. we have heard this for the better part of four years and the government is strangling with regulation and the cost is passed on to the consumer. they were supposed to fix it but like house like the plan to fix the job market it only made things worse. he might as well should have been. he was telling them to move their money out of the bank of america. it is happening all over. j.p. morgan said they can't make money serving customers with less than a 100 k. >> to be fair. it is not just bank of america and they tested it for almost

new englands. we'll have to do it and pass it on to the customers. should we not be surprised. >> look, banks are not as profitible it is not just and it is also because they are overexpose in europe and that is battering the balance sheets and traditional banking buness slowed by a weak united states recovery. bankers are a whiney bunch. they are able to deliver bonuses at the same rate they did before. bonuses it is not all about how bad they are doing. >> that depends on the bank christian. wayne, ceo of bank of america said the days are over of free checking. we can't let you use the atm

and on line bank not pay anything for it. a this is only for new customers. that's what they wanted to make clear to the media. it is more complicated of that. it is the walt of the washington. we have four banks that control 54 percent of the banking assets in the country and that is a monopopy. and we don't have competition otherwise the bank of america could never do this and it would be competition. i can go across the street if i don't like what it is doing for me. the government fixed that by allowing them to amalgumate . they should be broken up. >> john, going back to the point that this is only for new customers. the company said in a statement this week. media reports reported

inaccurate information. you have gone unbanked in this economy. one-four to one in three . banks are looking at this and said we can't price the riskks. we'll take them out of the system completely and this is what is bad. pay day lenders and debit card and check cashing service where they are getting raped on the fees. >> there are community banks and credit unions as well and banks have to accept the responsibility. if they are so troubled by making money. why in the world would decreased profits you award

bonuss and it doesn't make sense. >> that is a separate issue. >> the real issue. >> you have had 1500 branch closings in the past couple of years because they can't make money. you talk about crime and that is a separate issue. >> and guys, hold on. johnathon regulatory issue is one issue. and we knew it was going to happen. going back to the settlement that came down on the banks. they paid and it is over but they still need to be in business and make money. are we unfair to the guys. >> we are unfair. regulation cheryl doesn't punish criminals. it punishes everybody. innocent business people trying to make a buck. that is a good thing because you are providing a service. there is a monopoly. but it is the government and

the more they got involved with monopolizing bank house finance, the more it slowed and higher expenses went up and lower the quality of the service. wey need the banks and work and not demonize them x. come down on them. at the end of the day. they will hurt the lower middle class people. >> unless we forget. >> it is exactly what happened with the bushin fix and credit card fix. his plan to help the credit card companies by slashing their fees and made it harder for lower income folk to get credit and raise fees. >> christian, going back to the fact that you do have consumer choice . we talked about the fact that a lot of folks are putting

your money to the -- >> community banks and credit unions are a great alternative. we would have no banking system if not for the collective taxpayer funded bailouts of bank america and j.p. morgan and don't talk about government is the nehere. government enabled them to survive and continue to pay bonus. >> john, small banks, big bankings. they took tarp mon yethey paid it back . we moved it back. >> you are wrong. >> excuse me. you are wrong. everybody did not take tarp money. you are ignoring. it is much more complicated. the because of mark to market and regulations that were counter to each other, a lot of barchings were declared failures and congress did

this. it is on a puddle of regulations and they made the banks conglomerate and they are too big and they are dominated by the four banks. you can't have them controlling 54 percent of the banking assets and not call that a mopopy. let me finish. competition makes a free market. >> don't anybody make wayne mad. it is not good. >> wayne, you are out in chicago and yelling at me like he does johnathon. thanks to all of you for the great discussion. coming up. wait for this. this land is your land. the government thinks it is theirs. and now a new fight for private property is here. is congress doing something right? and don't think you will have a stranger in your home today. you just did. this is delicious okay...

is this where we're at now? we just eat whatever tastes good? like these sweet honey clusters... actually there's a half a day's worth of fiber in every ... why stop at cereal? bring on the pork chops and the hot fudge. fantastic. are you done sweetie? yea [ male announcer ] fiber one.

>> protects private property from a complete government take over. the house voting to overturn the supreme court ruling allowing the government to seize personal property for economic development. this is the one thing that congress is doing right? how so. >> life, liberty and property and pursuit of happiness. those are the basics of individual rights. without property rights no other rights are possible. for the government to take it and hand it over for the citizens for the criminal good is criminal behavior. i am glad is over turned. >> this is a supreme court ruling from 2005, and now congress is saying we don't agree with that; is that fair? >> it is not a question of fair. johnathon is right. a general theory i agree with that. under certain circumstances a community decides what it wants to do.

they have a referendum and they vote for it and a bunch of abandoned buildings are worthless and not paying taxes . they take that area and redevelop that and sell bond and acquire the property and buy apracal and it is appraise you can contest that and it is for the whole community. there are exceptions to that rule. >> christian, he makes a point about the how the entire process. it is not simple as the state taking the property . what about the argument of helping the community and takes jobs and brings in a new sense of community to an area. >> sure, we have imminent do main for things like public stadiums for example . if you can't tell me why that is allowed, it is allowed because it creates jobs and diversifies the tax base and that is considered a public

good. and the congress really has no room to be playing referee in these local land use decision. johnathon you talk about how congress messes it up now you want themed. >> there is no decision and christian to your points about jobs created. what created in the. they bull dozed the woman's house and years later it is an empty lot. jobs were never created. >> that's a dealt with locall level. congress has a role to make sure people don't have property taken without compensated not just fairly but above and beyond. >> tracey to be fair here. the business proposal congress doesn't mean the law has changed. what about victimization happening in and the minorists

and poor people victimized. >> it is a scary thought. to know that potentially it could be taken away from you without you having much say. the notion that we have a big brother government, it is just everywhere. i am sorry, it is a continuual step to socialism. taking away our rights and liberty system not why we life in the united states of america. >> look, you are not talking about a railroad or highway necessary for markets or economies. we are talking about a water slide. i don't care if it is local politicians or in washington d.c.. i don't want them making decision on a home i grew nup and a dog buried in the back for a water park it is stupid and contrary to everything that the country stands for taking my home for private development because it leads to development. >> wayne, another thing in the

proposal. not only overturn the supreme court decision in 2005 but punish states that did it and it is a big reach by congress. >> well, first of all. redevelopment. the object is not to create jobs for goodness sake. that is anillary thing . the point is, in certain cases, this is, you say we are not supposed to lose our property without to a government agency without due process. there is a process by which it is done. >> there is no price. johnathon you have to be wrong and be quiet for a minute and stop shouting because shouting doesn't make your point. >> now you are yelling. referendum is done. and it quired. >> let's take a vote. let's take a vote. and i vote waynes change of

bridal stores and everyone think their hand if you think i should get wane's bridle stores and five people raise their hands i get it. >> get it, no, no. johnathon is shot down. that was a great discussion. very fun. thank you very much. what does congress say about all of this? >> coming up while you are watching us right now. is someone else watching you? i'm consolidating my assets. i'm not paying hidden fees or high commissions. i'm making the most of my money. and seven-dollar trades are just the start. i'm with scottrade. i'm with scottrade. i'm with scottrade. and i'm loving every minute of it. [ rodger riney ] at scottrade, we give you commission-free etfs, no-fee iras and more.

come see why more investors are saying... i'm with scottrade. you search and they snoop. forget big brother. a privacy policy on google has critics screaming oh, brother. and someone said france

hello, everybody. i am uma in washington. at this hour new tornado warning negligence georgia and carolina. last night terrifying twisters ripped over the midwest and killed 32 people and entire blocks of homes were crush cell phone towers are knocked out and power liance are down and cars are tossed around. we'll have coverage at the top of the hour. >> all four republican hopefuls have paid a visit to washington. three of the four are campaigning in ohio which is a critical super tuesday primary state . sarah palin will be joining us live to talk about her super tuesday prediction and her response to the new hbo documentary about her 2008 run to the white house. that is live on america's news headquarters and we look forward to seeing you.

>> internet users up and arms over google privacy policy. wayne, you say google is going too far, how? >> well, i think as long as there is a market for your privacy, you are going to be the object of all of these people trying to get that information and you shouldn't give it away. and be careful about your privacy information . people have acess to the forms and they lose them and we have seen the abuse of it in private and public ways. you have to be careful and protect yourself . so all of these companies should be back off and protected from the constitution for privacy. >> google is a business and got to keep the lights on and is it fair for them to monitor what we are buy searching for. >> google is going to make money from advertising and

that will come from advertisers targeting you specifically and that comes from the information that you provide on line. people have to stop thinking because they use the internet behind closed doors they will get the same privacy behind closed doors. >> if i am shopping for shoes and give me an adfor a shoe sale i would be okay. >> buyer beware. you are out there and putting yourself out there and willing to put your credit card information and address in a website, you are out there and it comes with the territory i think. they have to figure out how to make money and the legalities of trying to reign this in good luck. >> are we beating up on google or would it be the entire internet. >> we are beating up too much google. it is back when people used libraries. they would record of what you

are reading and retail store. they keep up with what you are spend looking at and buy not buy this is more of the same. if you don't like it go to the internet. don't put information that you are cared to be stolen. >> i would think you would like the revenue that google is pulling in. >> i am thankful for google. here is a service they use 500 times a day. and i never paid a dime for it and i am thankful for it they offer a trade . folk use it or not . maybe who knows there. might be a market for a search engine that spectacularly protects your privacy . big chance for a cam back . i am thankful for google and helping make information more accessible. >> as a mother who helps for homework. i thank my lucky stars for google. i have no idea what they are doing. >> is it okay for them to

track us? >> does it really hurt us? >> they haveeen tracking us. this is nothing knew they are doing. they are being transparent and i agree with johnathon. mark this day. this is the first time. this will create opportunity for a market where another search engine organizing utility will provide privacy. >> christian, next time you come on the show, i doubt we'll all grane. thank you for joining us it is good to have you. >> thank you. and coming up, think government takes too much out of your paycheck now? wait until you hear about the presidential candidate calling for a 75 percent tax rate. they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries.

the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ i heard they found together for youenergy here. it's good. we need the jobs. [customer:] we need to protect the environment. [worker:] we could do both. is that possible? [announcer:] at conocophillips, we're helping power america's economy with cleaner, affordable natural gas. more jobs. less emissions.

a good answer for everyone. well, if it's cleaner and affordable. as long as we keep these safe. there you go. thanks. [announcer:] conocophillips. living with the pain of moderate to severe rheumatoid arthritis... could mean living with joint damage. help stop the damage before it stops you with humira. for many adults with moderate to severe ra, humira's proven to help relieve pain and stop joint damage. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal events can occur, such as infections, lymphoma, or other types of cancer, blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. before starting humira, your doctor should test you for tb. ask your doctor if you live or have been to a region where certain fungal infections are common. tell your doctor if you have had tb, hepatitis b, are prone to infections, or have symptoms such as fever, fatigue, cough, or sores.

you should not start humira if you have any kind of infection. ask your rheumatologist how you can defend against and help stop further joint damage with humira. or creates another laptop bag or hires another employee, it's not just good for business, it's good for the entire community. at bank of america, we know the impact that local businesses have on communities. that's why we extended $6.4 billion in needit to small businesses across the country last year. because the more we help them, the more we help make opportunity possible. >> time to i need to know next week. >> presidential candidate in france proposing a 75 percent tax on the rich. don't be surprised if that can doesn't come here if we don't

cut spending. >> tracey is right. politics world wide is crazy and trouble in the middle east. i like stocks with a high yield. >> like it and wayne rogers what do you have today? >> i am returning to quality. i own ford and buying more of it and adding to this position. ford did not take u.s. tax mon yethey reported better earnings and it continues to be a good story. >> and a lot of sales that are good. what do you have? >> float is like owning an adjustible rate mortgage . one of the fewest induments that go up. >> and a quick programming note to all of you. neal cavuto will have live coverage and beginning at 8:00 on the fox network with the biggest names you will find anywhere. it is not about being blue. it