meanwhile, 15,000 people will be hired in asset management and commercial banking units. meanwhile, best buy is also axing jobs. the electronics retailer will cut over 400 jobs as the company tries to transform itself. under the renew blue program, best buy hopes to save over $725 million in cost reduction measures. the company reports earnings later this week. former goldman sachs director rajat gupta is sentenced to time behind bars. convicted last may of leaking boardroom secrets to a hedge fund, gupta was ordered to reimburse goldman sachs $6.2 million and spend two years in prison. goldman sachs had asked to be reimbursed for $6.9 million, the amount it spent on outside counsel for gupta's defense. entrepreneurs are welcoming ipos. a new study by kpmg finds 66% of entrepreneurs expect higher ipo activity in 2013. investors note there are possible roadblocks such as market volatility and fallout from popular ipos last year. however, the majority think the improving economy will pave the way for sectors like technology, healthcare, life sciences and energy to dive into

barclay's chief executive is set to announce the closure of a unit specialized in tax advisories as part of a message to clean up the bank'sge. barclay's shut down the controversial by profitable structural capital markets division. other than the chose your of the unit, he's not expected to unveil a major overhaul. >>>.opposition is growing to dell's more than $23 billion buyout. three of the company's advisers have joined the opposition. investors now say they're vote against the buyout. michael dell owns 16% of the company. look at shares which spiked on the news there. up 1.9% and not perhaps reading into too much into these developments. >>> and eric schmidt is cashing in. he's set to sell 42% of his stake in the company. in an s.e.c. filing, google says schmidt will sell shares over the course of a year. it could entertain him playing a smaller role at the company in the future. schmidt took over from larry paige in 2011. it's hard when you own -- when your stake is so big, worth so much, if you decide you want to cash out. >> it's exactly what's been happening with the u.s. government or the british government .and

united healthcare. union bank. and fidelity investments. >> your personal economy is made up of the things that matter most, including your career. and as those things change, fidelity can help you readjust your retirement plan, rethink how you are invested, and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices that can fit your personal economy. fidelity investments, turn here. >> at union bank, our relationship managers work hard to know your business. offering specialized solutions in the capital to help you meet your growth objectives. we offer expertise and tailored solutions for small businesses and major corporations. what can we do for you? >> and now "bbc world news." >> this is bbc world news america. pastorius is back in court, listening to what witnesses had to say the night his girlfriend was shot dead. rebel fighters battle against the assad regime. >> if they take this not only will it be a strategic deterrent but also symbolically. >>

were saying we'd never be a lot again because they're bigger now but you know the five largest banks the united states account for fifty two percent of all the banking assets they're bigger than they were before the crash you think we'll let those five go under no way are we going to let those five go under unless we replace the whole banking system with a government system what are some of the. steps and points to be able to make a million dollars an hour step one is you have to want to be richer than the pharaoh's you can't just settle to be like tiger woods or even oprah or a movie star tom cruise or say that's not enough that's only seventy eighty million a year you got to want a billion a year so you have to you have to really think of yourself as one of god's chosen elites that you're good you're going to be smarter and richer than anybody that walks face of the earth so you have that step one you have to have to drive the last step which i kind of want to get to is you have to be willing to crush your opponents you have to be able to deflect the center dissenters i got a taste of this i

you can't deny the fact that the investment banking unit was a bit of a disappointment, specifically fixed income revenues the.they were down 38% quarter on quarter. when i spoke to the ceo of credit suisse, he was more optimistic about what the first quarter and the rest of the year would bring. >> obviously, there is more confidence right now. i think people are being a bit more opportunistic in terms of both from a corporate point of view and from our private clients. but, you know, as always, as we've seen in previous years, that can be fragile. we'll have to see how the year progresses. certainly now the markets have a very positive approach and our clients mostly are feeling, i think, more positive about the markets. but, again, you never know what macro events might intervene to shake that confidence. so we'll have to wait and see. >> so what are the biggest risks here to client activity? >> well, i think it is some of the broader issues that would happen, some of the old issues, whether it's eurozone issues that could reappear, issues in the u.s. on the fiscal front. obviousl

united health care. union bank and fidelity investments. your personal economy is made up of things that matter most like your career. rethink how you are invested and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices that can fit your personal economy. fidelity investments. turn here. >> at union bank, our relationship managers work hard to know your business, offering specialized solutions and capital to help you meet your growth objectives. we offer expertise and tailored solutions for small businesses and major corporations. hat can we do for you? >> and now, "bbc world news." >> hello. you're watching gmt on "bbc world news" world news. i'm dana. our top stories. oscar pistorius on the second day of his bail hearing. police they they found testosterone and needles and unlicensed things at his home. his girlfriend was found wearing a vest and shorts. the latest from pretoria. event a alled an deeply shameful event. >> and global soccer teams feet in asia to work out ways

note they are going to be a lot of head count reductions over the next two years in the consumer banking unit. there could be as many as 19,000 jobs cut with the majority of those in the mortgage banking department as the mortgage environment improves here. that's not to say the consumer bank is shrinking. we heard from chase consumer banking ceo or retail banking ceo and he said they will open 200 branches on average in the next two years. we did also hear a lot about washington today. cfo said regulatory challenges remain number one priority. the number one challenge, really, for the bank at this time. ceo of commercial banking echoed that theme. seems to be a theme throughout the day. d.c. policies holding back a tremendous amount of liquidity in the market, in the market except for in commercial real estate. interestingly saying on the commercial side new york, san francisco, d.c. is extremely frothy with a lot of competition and banks starting to lower standards across the street. tyler and sue, back to you. >> very interesting, kayla. thank you so much. we heard about big housing number

>> 6:25, a perk for travelers that does not break the bank, united is offering passengers premiere accesslow economy travelers to breeze through airport security with the v.i.p. for $9. only limited number are sold at a time so elite passengers are not bogged down and united has a new luggage service that takes your bags to the door. internet radio company pandora is limiting the amount of free music users can access on mobile devices in a blog post. the founder of the company says starting this week users on mobile devices will be limited to only 40 hours of free service a month and after that users have to pay $36 a year fee. a spokesman says the move is likely only temporary and pandora is limiting the free streaming to users because the cost of music licenses is going up. >> kaepernick will team up with first lady and world class athletes to promote physical education. he led the 49ers to the super bowl after becoming the quarterback midway. kids need an average of 60 minutes of physical activity each day to be healthy but they spend seven or more hours a day in front of a screen. kae

. >> finally, a perk that will not break the bank, united is offering passengers a federals-class perk called "premiere access" you can breeze through the security for $9 but only a limited number of that is sole at a time is regular elite passengers are not held up. united is launching a new luggage service called "bags v.i.p." so for a fee they will take your bags to the door. >> so you pay the first-class ticket fee and then the $9. >> if you have a regular economy ticket, and you pay the extra $9 you get the breezing through security. >> now, how about the food on the plane? >> i don't think you want that anyway. >> and the warming trend starts snowed. >> absolutely. maybe you could be grilling and chillin' getting into the next couple of days with spring fever. live doppler 7 hd shows it is dry right now with a couple of hours a few sprinkles across the north bay, but nothing measurable hitting the ground enough to make sue mad because she washed her car yesterday. it didn't get the car dirty, did it in. >> yes! >> really? no, she is being mine. san francisco, 49 right now and red

the first bank of the united states was a central bank which was basically the bank for the u.s.asury. hamilton and jefferson argued about it. there was a second bank of the united states that was created. andrew jackson basically ended its charter. there's a long history of mistrust in parts of the united states about the central bank and what it does. back in the derickson and hamilton days, a lot of the farm state bankers did not trust the first bank of the united states. -- back in the days of jefferson and hamilton. there is a federal reserve board in washington made up of seven governors and chairman who is ben bernanke. then there are 12 regional fed banks. they're all part of this federal reserve system. the regional fed bank, every chartered bank of the united states has to pay in capital to the federal reserve banks and in return they get a dividend. but these are not banks the way we think of commercial banks. the federal reserve bank of new york is not like citigroup out there trying to earn big profits to return to shareholders. their job is to manage the money suppl

saying we'd never be a lot again because they're bigger now but you know the the five largest banks the united states account for fifty two percent of all the banking assets they're bigger than they were before the crash you think we'll let those five go under no way are we going to let those five go under unless we replace the whole banking system with a government system or what are some of the. steps and points to be able to make a million dollars an hour step one is you have to want to be richer than the pharaoh's you can't just settle to be like tiger woods or even oprah or a movie star you know tom cruise or see you that's not enough that's only seventy eighty million a year you got to want a billion years you have to you have to really think of yourself as one of god's chosen elites that you're good you're going to be smarter and richer than anybody that walks face of the earth so you have that step one you have to have to drive the last step which i kind of want to to get. you have to be willing to crush your opponents you have to be able to deflect the center dissenters i got a taste

bank. and united healthcare. >> your personal economy is made up of the things that matter most, includingour career. and as those things change, fidelity can help you readjust your retirement plan, rethink how you are invested, and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices that can fit your personal economy. fidelity investments, turn here. >> music is a universal language. but when i was in an accident, i was worried the health care system spoke a language all its own. with united healthcare, i got help that fit my life. information on my phone, connection to doctors who get where i am from, and tools to estimate what my care may cost so i never miss a beat. >> we are more than 78,000 people looking out for more than 70 million americans. that is health in numbers. united healthcare. >> "bbc world news" was presented by kcet los angeles. captioning sponsored by macneil/lehrer productions >> ifill: defense secretary leon panetta warned today he may furlough the vast majority of the department's 800,000 civilian work

jpmorgan cutting jobs by the end the year coming from the mortgage banking unit.ith fewer borrowers falling behind on their mortgages the bank doesn't need as many employees to help in that department. and you got a shout out from senator jeff sessions. he was discussing the nomination of jack lew as treasury secretary. >> he only got that bonus if he was going to the federal government, kind of crony capitalism that larry kudlow has raised questions about. mr. kudlow's vision is why did citigroup allow him to have a bonus when he departed the bank, when he led one of the worst divisions in the history of any banking department, any bank ever? >> i bet mr. session would have preferred to be nominating you. however an hour ago lew was confirmed by the full senate. that wasn't the only mention you got. business insider naming you one of the best dressed in the business of business news journalism. they think your french cuffed shirts and pin stripe suits are sharp. they love your glasses and pocket square and american flag lapel pin that you wear as well. several ot

bigger now that you know the the five largest banks the united states account for fifty two percent of all the banking assets they're bigger than they were before the crash you think we'll let those five go under no way are we going to let those five go under unless we replace the whole banking system with a government system or what are some of the. steps and points to be able to make a million dollars an hour step one is you have to want to be richer than the pharaohs you can't just settle to be like tiger woods or even oprah or a movie star tom cruise or see you that's not enough that's only seventy eighty million a year you got to want a billion years you have to you have to really think of yourself as one of god's chosen elites that you're good you're going to be smarter and richer than anybody that walks face of the earth so you have that step one you have to have to drive the last step which i kind of want to get to is you have to be willing to crush your opponents you have to be able to deflect the center dissenters i got a taste of this i wrote a piece that questioned one of t

bank. and united healthcare.

moving on to the supervisors and banking unit. because the smallest countries, as you say, we were required to 64 billion as 30% of our gdp to pay for banks. in a situation that has been crushing on the people. it has actually factored in with the situation in a lot of we have contact and that is why in feis presidency, we want to run we want to run this effectively in the interest of allll the th countries and that is why i would like to see the issues of trade the digital free markets japan singapore and canada singapore, canada, all of those associations and i think those are real opportunities. part of this all is here that our leaders, 26 million people unemployed in the european union, millions of young people who do not see their careers as decisions made by politicians. that is the central issue. people have to see and follow through the decisions that are made. that is an issue that all of us need to consider in the interest of all of the citizens. if we can continue for the seven years and i hope that you will go to the p

. >> united healthcare, union bank, and fidelity investments. >> your personal economy is made up of the things that matter most, including your career. as those things change, fidelity can help you adjust your retirement plan, rethink how you are invested, and refocus as your career moves forward. wherever you are, a fidelity ira has a wide array of choices that can fit your personal economy. fidelity investments, turn here. >> at union bank, our relationship managers work hard to know your business. offering specialized solutions in the capital to help you meet your growth objectives. we offer expertise and tailored solutions for small businesses and major corporations. what can we do for you? >> and now, "bbc world news america." "bbc world news america." i am reporting from washington. celebrations on the street of venezuela of welcome president hugo chavez home. questions about his health remains. david cameron and travels to india to drum up business. in the sky is the limit tonight's big dream series. jessica is overcoming obstacles with amazing passion for life. welcome to ou

united healthcare. union bank. and fidelity investments. >> your personal economy is made up of the things that matter most, including your career. as those things change, fidelity can help you adjust your retirement plan, rethink how you are invested, and refocus as your career moves forward. wherever you are, a fidelity ira has a wide array of choices that can fit your personal economy. fidelity investments, turn here. >> at union bank, our relationship managers work hard to know your business. butoffering specialized solutions in the capital to help you meet your growth objectives. we offer expertise and tailored solutions for small businesses and major corporations. what can we do for you? >> and now, "bbc world news." >> hello, your watching "gmt," on bbc world news." the south african athlete is formally charged with murdering his girlfriend. his lawyers have applied for bail. the prosecution accused him of premeditated murder. the defense says the shooting was accidental. his girlfriend's funeral took place

moving on to the supervisors and banking unit. because the smallest countries, as you say, we were required to 64 billion as 30% of our gdp to pay for banks. in a situation that has been crushing on the people. it has actually factored in with the situation in a lot of we have contact and that is why in this presidency, we want to run this effectively in the interests of all the countries. that is why i would like to see the issues of trade and japan, singapore, canada, all of those associations and i think those are real opportunities. part of this all is here that our leaders, 26 million people unemployed in the european union, millions of young people who do not see their careers as decisions made by politicians. that is the central issue. people have to see and follow through the decisions that are made. that is an issue that all of us need to consider in the interest of all of the citizens. if we can continue for the seven years and i hope that you will go to the parliament and discuss that again. they are required to give the

the economy solvent but in the long term as not it is all rounder the fed is a lender of money to banks unit but the reason why the fed strategy was a good strategy this go around is because we didn't see the government do its part of the fiscal side so the fed did their part of keep you know keeping the rates that was making the rates lower but what you should have seen is the you've seen the government investing in america's greatest resource its people to go back to work when the banks are now willing to lend and they have a lower injury to lend that that is the opportunity when you put the middle class in the working class back to work so they can afford cars homes you know they can send their kids to private schools xander kids the college and that is what prompts our comedy scene from republican that we've seen from john boehner is the absolute opposite of that they want to cut cut cut cut cut they want to kick kids out of head start they want to fire seventy thousand teachers and i think they're somehow going to go the economy that way but impossible on the excerpts the white house ha

series of initiatives during 2012 focusing on the challenges and opportunities facing community banks in the united states. in december of last year the fdic released the fdic community banking study, a comprehensive review of the u.s. community banking sector covering the past 27 years of data. our research confirms the important role the community banks play in the u.s. financial system. although these institutions account for just 14% of the banking assets in the united states, they hold 46% of all the small loans to businesses and farms made by fdic insured institutions. the study found that for over 20% of the counties in the united states community banks are the only fdic insured institutions with an actual physical presence. importantly, the study also finds that the community banks have stayed with their basic business model of careful relationship lending, funded by stable core deposits, exhibited relatively strong and stable performance over this period and during the recent financial crisis and should remain an important part of the u.s. financial system going forward. mr. chairman, that

announced that barclays will cut 3700 -- 3700 jobs, including 1800 in corporate and investment banking across the united kingdom. 1900 jobs in their european and retail business banking. they are going as well. the controversial past that help them to avoid paying taxes, that department has been closed. i tell you, barclays reported this number for 2012 in pre-tax profits. down substantially from the nearly $9.5 billion that the bank reported in 2011. they have promised new runs in barclays, that they will be a different beast from the bowl bank of before. anthony told us how the bank got it wrong. >> saying that the industry and barclays got some things wrong, i think that we were too aggressive and to short-term focused and on some occasions to self-serving. what we are talking about today is building a better barclays that learns from those experiences. >> there you go, big changes. back in 25 minutes or so to talk more about that change. >> i will be waiting for you. >> do not go anywhere. >> stay with us here on bbc news. still to come, who will succeed pope benedict the 16th? we will take you thro

. >> and the market has forgotten about the fact that we need a banking unit.et has backed off. if you don't get that, italy is in big trouble. spain is in big trouble. >> paul, thanks. cliff is with us for the -- >> thanks, guys. >> you, too. >>> coming up, our newsmaker of the hour, former treasury secretary larry summers is going to join us. uncertainty is the word of the day. his take oefrg from europe to the u.s. see zester when "squawk box" returns. but before we head to that break, we have some sat news to report. former surgeon general c. everett coop has died. he was the nation's leading spokesperson on health during the reagan administration. he became possibly the best known surgeon general in history. he focused america's attention on the aids he dek demic and railed himself against smoking. he has died at the age of 96. [ engine revving ] ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay alive... but feel alive. the new c-class is no exception. it's a mercedes-benz through and throu

[laughter] that means the value of the largest capitalized bank in the united states defies observationghter] the human mind cannot perceive it. we dare not look upon it. [laughter] remember what happened to the accountants who opened lehman brothers' books. [laughter] point is, i believe when it comes to our economy, there are things we just shouldn't know. here to know them at me is financial writer and washington bureau chief of the "new york times," david leonhardt. dave, good to see you again. how are you? [cheers and applause] you are the author of new e-book "here is the deal" available on electronic everywhere. dave, why are they going after s&p? do they have the goods on the agencies in. >> they may have the goods. the huge housing bubble and the banks were packaging together the mortgages. >> caused by poor people being greedy go. head. >> and s&p comes in and said they are aaa rated they cannot go bad and they are perfectly safe. they did go bad. the government has e-mails with standard & poor's telling how they rate the thicks. they look bad. is it criminal? their defense is

bigger now that you know the the five largest banks the united states account for fifty two percent of all the banking assets they're bigger than they were before the crash you think we'll let those five go under no way are we going to let those five go under unless we replace the whole banking system with a government system or what are some of the. steps and points to be able to make a million dollars an hour step one is you have to want to be richer than the pharaohs you can't just settle to be like tiger woods or even oprah or a movie star tom cruise or see you that's not enough that's only seventy eighty million a year you've got to want a billion years so you have to you have to really think of yourself as one of god's chosen elites that you're good you're going to be smarter and richer than anybody that walks face of the earth so you have that step one you have to have to drive the last step which i kind of want to get to is you have to be willing to crush your opponents you have to be able to deflect the center dissenters i got a taste of this i wrote a piece that questioned on

the first bank of the united states was its central bank, basically the bank for the u.s. treasury. hamilton and jefferson argued about it. there is a second bank of the united states created. andrew jackson basically ended its charter. there's a long history of mistrust in parts of the united states about the central bank and what it is back in the jefferson and hamill 10 days. a lot of the farm state bankers didn't trust the first bank of the united states was kind of acting in the entries. the federal reserve was created years ago and it's got unusual structure, kind of an outgrowth of this history of mistrust through central banking. as the federal reserve board in washington make up of seven governors and a chairman, ben bernanke. and 12 regional fed bank and they're they're all part of this federal reserve system. at the regional fed banks, every bank, every charter bank of the united states has to pain capital in return for the jay david and. but these are not things the way we think of commercial banks. the federal reserve bank of new york is not like citigroup out there try

agents arrest aid san jose man they say was plolt tok blow up a bank in the east bay in in sm sort of an attempt to trigger a civil war in the united states this, bank of america branch in oakland was the target. officials say they arrested a 29-year-old from san jose after he tried to activate a car bomb in front of the bampblg. an nib agent helped design something that looks like a bomb but waits harmless. experts say all terror schemes need to be taken seriously. >> he thought et he had a goal. he wasn't going to be detered and talked about after being successful, he'd go to xuccessful, he'd go to taliban or al qaeda. >> he has been charged with attempted use of a weapon of mass destruction. >> snowed in. those words describe what millions of americans are dealing within the northeast tonight two. big storms merged into one giant blizzard. massachusetts has banned driving until the storm eases. forecasters believe two and three feet of snow can bury communities between new jersey and maine. airlines cancelled more than 4,000 flights. ripple affects of the blizzard stretches to airports here in the bay area. >> you just expect un

very quickly, my teammates in bank unit would accept me as one of the team. in general, the challenge for me and other women was, i was continuing to have hostility from people i had not met. people outside the unit. able, i do not know who they are. they had interesting things to say about me and my capabilities. i think other women experience that as well. becoming a teammate, you are well respected, but you have some of that. especially for me, when i started to upgrade. it is one thing to be a wing man, where you are told what to do. then, you become a flight lead, that is another interesting dynamic. then you become an instructor pilot. then your trading other pilots. then i got promoted two years ahead of my peers. that was when some of the worst dynamic happens, when i started to succeed. all the emotions came in -- you are only promoted because you are a woman and the things that come with that. i would imagine in those units that still remain exclusionary, even though they may have.'s women with them, there will be similar dynamics going on. it is a l

the first bank of the united states was a central bank which was basically the bank for the u.s. treasury. hamilton and jefferson argued about it. there was a second bank of the united states that was created. andrew jackson basically ended its charter. there's a long history of mistrust in parts of the united states about the central bank and what it does. back in the jefferson and hamilton days, a lot of the farm state bankers did not trust the first bank of the united states. there is a federal reserve board in washington made up of seven governors and chairman who is ben bernanke. then there are 12 regional fed banks. they're all part of this federal reserve system. the regional fed bank, every chartered bank of the united states has to pay in capital to the federal reserve banks and in return they get a dividend. but these are not banks the way we think of commercial banks. the federal reserve bank of new york is not like citigroup out there trying to earn big profits to return to shareholders. their job is to manage the money supply. it is also to be a lender of last resort

bank. fidelity investments. >> and united healthcare. >> music is the universal language.n i was an accident, i was worried that the health-care system spoke a language all of the sun. with united healthcare, i got help with my life, some connection to doctors, and a total estimate of what my family costs. i never missed a beat. >> we are 70,000 people looking out for more than 70 million americans. that is strength in numbers, united healthcare. >> your personal economy is made up of the things that matter most, including your career. as those things change, fidelity can help you readjust your retirement plan, rethink how you are invested, and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices that can fit your personal economy. fidelity investments, turn here. captioning sponsored by macneil/lehrer productions >> ifill: in the nine weeks since the schoolhouse shootings in newtown, connecticut, police around the country report hundreds more have been victims of gun violence. good evening. i'm gwen ifill. >>

bank. fidelity investments. and united healthcare. >> with united healthcare, i got help with my life, connection to doctors, and an estimate on the cost so that i would never miss a beat. >> 78,000 people looking out for 70 million americans. health in numbers. that is united healthcare. >> your personal economy is made up of the things that matter most, including your career. as those things change, fidelity can help you readjust your retirement plan, rethink how you are invested, and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices that can fit your personal economy. fidelity investments, turn here.

during the real-estate boom in the united states, banks were happy to sell mortgages to people who actually could barely afford them. that debt was bundled into bonds with other investments, and s&p gave them safe ratings in the financial markets. that is why investors snapped them up, particularly pension funds and other large investors like insurance companies. when the real estate bubble burst in 2007, the banks were sitting on mountains of bad debt. taxpayers ultimately had to bail out the banks to save them from collapse. u.s. authorities charge that s&p purposely downplayed the risks in favor of the interests of large investment banks. shares in standard and poor's owner mcgraw-hill dropped by 14% in new york on monday, and that slide continued on tuesday. analysts believe investors could line up behind the government to claim damages from the agency. >> along with many other countries from around the world, germany has been marking international safer internet day. in berlin, experts have been meeting to discuss the safety implications of the data, which means enormous stockpiles of

. >>> a number of banks including the four biggest banks in the united states now said to be holding n $200 million in insurance money that the banks reportedly owe to victims of superstorm sandy, $200 million. that's according to the new york governor andrew cuomo. as you probably know by know, home insurers have paid out billions in claims since that devastating storm last october, but the wall street journal which is owned by the parent company of this network reports now more than 4,000 homeowners are reportedly having a lot of difficulty getting their payments. checks which add up to more than $30,000 per household on average. the banks claim the hold up is due to the fact that maybe of those victims used their homes as collateral on their mortgages, houses that are damaged or destroyed. think of it. you had money in your house. you used that as collateral, but now there's no house. governor cuomo said the delay is unacceptable and that the banks need to dole out the money that they owe. the fox business network business anchor jerry willis is live with us from new york. what els

units. unfortunately banking institutions create a financial tool by which people could buy entire buildings and decrease our rent control housing stock. what's unfortunate about this debate is we have two groups of folks here, both worthy of our attention and of course of our commitment and they are our renters, many of whom are low income and moderate income, homeowners. but i think many are demonizing the t.i.c. owners. i have friends who are t.i.c. owners as well. i think in the long-term if we're going to have a conversation about how to help the current generation of t.i.c. owners we have to have a conversation about how we prevent i would say kind of an overcapacityityization. we don't want to encourage banks and realtors to say san francisco is letting this bypass happen, it's going to happen in five years, so buy up today. i don't want to say cannibalize, but they will cannibalize our housing stock which is important to affordable housing in san francisco as much as our affordable housing program as well. >> chair wiener: thank you. i just have one question for mr. stores, and if th

united healthcare. union bank. and fidelity investments. >> your personal economy is made up of the things that matter most, including your career. and as those things change, fidelity can help you readjust your retirement plan, rethink how you are invested, and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices that can fit your personal economy. fidelity investments, turn here. >> at union bank, our relationship managers work hard to know your business. offering specialized solutions in capital to help you meet your growth objectives. we offer expertise and tailored solutions for small businesses and major corporations. what can we do fou>> and now "bs america." >> reporting from washington. bail.pistorius is granted the magistrate complaints the case has become a spectacle. disspirited italians go to the polls wondering if anyone can fix their country's economic problems. from the streets to the red carpet of hollywood, we followed two boys as they