jamie diamond and j.p. morgan breaking quite explicitly many many laws there's no there's no deterrence for lawbreaking there's no rationality in interest rate monetary policy so here they come out with a program where they expand the casino gulag prison state where people working mcdonalds there to their pay is tethered directly to j.p. morgan that goes right into their pockets just to check their balances they're charged money just to do normal breathing it's an open air presume it's an open air presume and there's jamie diamond you know this is a guy who unfortunately is part of the caucus dr c. the most lamebrained least qualified morse most larcenous tickly minded in america end up in positions of power and this is why the country is sinking into pettily around the world that's why it's such a a sinkhole of moral more ality and competitiveness stacy over thanks so much for being on the kaiser report thank you max and welcome back to earth. say to the second speaking to dr steve king. good laboratory wa

. >> that jamie diamond speaking on the so called london whale.ge for a guy who called it a attempt pest in the tea pot and it turned out to be something different. >> i'm going to be in the minority on this thing. i don't think jp morgan did anything. it just went bad. instead of losing $8 billion would we be having the same conversation if they made $8 billion because the risk is exactly the same. >> i don't think we would be having the conversation at all if he hadn't called it a tempest in the teapot. >> morgan stanley stock falling along with the financials. will they continue to outperform or is there a down side ahead. we have a bull and a bear tonight. total of 90 seconds to make the case. >> is it's a sensible trading call for morgan stanley to take profits. i have no issue with that. but trading at 8 times the book value. here's a bank with the most profit ability of the second quarter has arguably the best fixed income. it's still not clicking on all cylinders. by taking out the remaining of the business they bought from city bank is a

someone like jp morgan's jamie diamond, was cut by a fifth. the study also noted that the ceo from wells fargo and hsbc and credit suisse got increases in their paychecks. >>> bank ceo's may not be earning as much. and american favors aren't saving as much either. fewer than 1 in 4 americans has enough in emergency savings to cover six months of lives expenses. the survey also says, half of all americans have less than three months expenses saved up. and 27% have no emergency funds whatsoever. >>> our crude oil prices fixed, the ftc wants to know. opening a formal investigation into how prices of crude and other petroleum based products are set. regulators are looking to scrutinize the way companies report oil prices, help determine how much raw materials cost on the open market. >>> good news about gasoline costs, prices at the pump are down 4 cents a gallon over the past two weeks. they now average 3.60 a gallon nationwide for regular grade fuel. that's largely because some midwest refineries that were offline are now back and fully operatio

one of the things i think about. >> only to ask for a ceo. >> if you go back and look when jamie diamondson was the chairman when jamie was getting that done. i can see a time, for example. >> in six months when a guy was leaving? >> if jamie dup was going to step down, they had a succession plan, maybe you make him the chairman the next year or two to help out. a year. >> maximum. six month, preferably. >> okay. >> you give the guy the job. or the woman the job. they get the job. they make the decision. you don't like them, throw them out. i'm not against firing them. but this idea of splitting for corporate governance and then they make this mistake with cody i felt was bowl saying he has no financial acumen, he has more, he's forgotten more than the whole crowd will ever know. >> okay. we got to go. i'm just wondering, there's got to be a way of making sure that boards aren't just rubber-stamped of, you know, ceos. >> if the decisions are bad, the stock goes to held. >> if they're friends with, golf buddies with the chairman and ceo. >> do you think you want to fight on the board? you

finally more bad news for our fair headed once favorite banker jamie diamond looks like j.p. morgan is set to lose one point six billion dollars on some allegedly shady deals with jefferson county alabama according to bloomberg that's because it took the lead in arranging risky security deals that pushed the county into the largest us municipal bankruptcy good luck at the next shareholder meeting to be let's get to what's in your prime interest. during the financial crisis the term too big to fail came to prominence as the federal reserve and treasury arranged for bailouts for some of the largest financial institutions dodd frank attempted to remedy this by creating the financial stability oversight council or we call f. stock is composed of representatives by most u.s. regulators and is chaired by the treasury secretary jack lew is mission is to basically get rid of too big to fail by first identifying potential large firm threats and then monitoring them along with the markets on an ongoing basis it has already designated certain banks as the cynically important financial i

will be replaced with black and white stripes for the next forty or fifty years while working on jamie diamond's chain gang we're again on the chain. the diva i believe stacey well max with that intro we are going to have to go to the capital of fashion italy italy faces restructured derivatives hit italy risks potential losses of billions of euros on derivatives contracts is restructured at the height of the eurozone crisis according to a confidential report by the room treasury that sheds more light on the financial practices that enabled the debt laden country to enter the euro in one nine hundred ninety nine so max they face eight billion euros the losses on thirty one point seven billion in derivative contracts so those that just represent a peek at six months worth of contracts remember greece when they're getting into the euro we reported on this extensively goldman sachs top of dry of the prime minister and john paulson has fund manager constructed a faulty gimmick of accounting fraud using swaps and derivatives to cook the books and allow greece to enter the euro so that they could inve

morgan chief jamie diamond he's got a tech he's going to talk by shareholders he's going to tell by the government because of the london will debacle and so you have that coming i mean this is ridiculous bankers have a very well i mean c.e.o. pay they're just complaining about nothing and they're presenting the public image of discontent well of course they're going to have said if a case is not settled in their favor when they come under scrutiny but overall bankers have a pretty good c.e.o. went up twenty two percent from last year the median banker c.e.o.'s five hundred fifty two million dollars i mean they really have nothing to be angry about who really should be a homeowner so if i have the choice to make my own angry birds game it would definitely be angry homeowners foreclosures are up and then we have the independent foreclosure review process which really left a lot of homeowners in the dark they had they're getting five thousand dollars everything goes out of their home and the entire process. which was overseen by a problem tory financial group other shadow regulators like p

will be replaced with black and white stripes for the next forty or fifty years while working on jamie diamond's chain gang we're again on the chain gang. diva i believe stacey well max with that intro we are going to have.

will be replaced with black and white stripes for the next forty or fifty years while working on jamie diamond's chain gang we're again on the chain. the diva i believe stacey well max with that intro we are going to have to get to the capital of fashion italy italy fail.

finally more bad news for our fair headed once favorite banker jamie diamond it looks like j.p. morgan is set to lose one point six billion dollars on some allegedly shady deals with jefferson county alabama according to bloomberg that's because it took the lead in arranging risky security deals that pushed the county into the largest u.s. municipal bankruptcy.

billions of dollars being accumulated by individuals whether it's larry ellison or bill gates or jamie diamond are these bankers in the corporate chieftains they are not circulating in the economy in any productive way the unemployment numbers are horrible wages are horrible the economy is stagnant and you have huge problems because of these hoarders people who just stack up money in their basement they don't do anything with it and it's really a disease now many of these arranged tours are also hard core criminals and gays and ongoing criminal banking conspiracies against the population and yet the department of justice in america has said that they won't prosecute what's going on there lee yeah i love they say they won't prosecute because that could hurt the economy well don't you think it could hurt the economy and hurt the people of the world when you tell the biggest criminals in the world that they're never going to be prosecuted prosecuted what what i heard someone hurts us more than that and furthermore i love that the f.b.i. does a report every year with a list all the crime all the s

food it's all processed packaged food that she's looking at their mother the butcher shop with jamie diamond in the window taking an irish bloke and hacking them to your peers or ducks oh i build your head of google i'm the butcher of ireland i run go go on the pleasure of i like to rip butcher shop so the fake cut that didn't butcher shop these guys are so irresponsibly financially raping you in ireland and what do you do about it you go out. on for shylocks or shamrocks or whatever it is that you do up there leprechauns get a frickin life well speaking of butcher shops finally here we have the demolition of detroit as the solution that's another potemkin village idea we have to knock down the potemkin village to save the village detroit survival depends on speed of destruction william poll says the only way to truly save detroit and get the housing market functioning properly again as to destroy large swathes of the city as quickly as possible so he's already knocked down ten blocks of south east side of detroit william polk by the way head of polt housing holmes the largest house builder

finally more bad news for our fair headed once a favorite banker jamie diamond looks like j.p. morgan is set to lose one point six billion dollars on some allegedly shady deals with jefferson county alabama according to bloomberg that's because it's the lead in arranging risky security deals that pushed the county into the largest us municipal bankruptcy good luck at the next shareholder meeting to be a get to what's in your prime interest. during the financial crisis the term too big to fail came to prominence as the federal reserve and treasury arranged for bailouts for some of the largest financial institutions dodd frank attempted to remedy this by creating the financial stability oversight council or we call f. stock is composed of representatives by most u.s. regulators in the chair it by the treasury secretary jack lew is mission is to basically get rid of too big to fail by first identifying potential large firm threats and then monitoring them along with the markets on an ongoing basis it has already designated certain banks as the cynically important financial institu

it's a big circular mess as i mean absolutely that's possible why are we looking after jamie diamond when his bank received twelve billion dollars bailout in two thousand and eight and then he lost six billion dollars last year would you like to say i think we instead of putting our efforts on edward snowden and who has questioned the prism program. we can look at the jamie dimon all right thank you control room somebody in here and explain to me. great. of thank you guys for tuning and today if you want to follow us on facebook you can know we're at facebook dot com slash prime interest we're going to continue this conversation on twitter you can follow bob at english p.r.i. and i am at perry and r t thanks so much for joining. it was a surprisingly normal day on prime interest banks are watching the fed and j.p. morgan slash a.i.g. exact is taking the helm of a central bank uncle sam hates big coins well that's nothing new there according to sam and to our fraud is getting easier and according to make zero when owning a business is getting harder and edward snowden is missing and j

it's a big circular mess as i mean absolutely that's possible why are we looking after jamie diamond when his bank received twelve billion dollars bailout in two thousand and eight and then he lost six billion dollars last year would you like to say i think we instead of putting all our efforts on edward snowden and who has questioned the prison program. we can look at the gym you've done all right thank you control room somebody in your anybody but me. great well thank you guys for tuning in today if you want to follow us on facebook you can know we're at facebook dot com prime interest we're going to continue this conversation on twitter you can follow bob at english p.r.i. and i am at perry and r t thanks so much for joining i do. it was a surprisingly normal day on prime interest banks are watching the fed and j.p. morgan slash a.i.g. exact is taking the helm of a central bank uncle sam big point well that's nothing new there according to sam and to our fraud is getting easier and according to neko when owning a business is getting harder and edward snowden is missing and jamie d

this is someone in the financial crisis when the hundred jamie diamond and a diamond is forever but then would rip him down because he was worshiped and one mistake along the way and if i see -ne more dimon in the rough. >> i give him a strong buy. he will keee building the company where he had to improve the balance sheet and the credit situation and whole problem in being too powerful or too strong will be in the past as well as this with the of wailes trading and risk management. jaime dimon is excellent at empowering management, risk management to do things like that the government to pay him to take on bear steaans and he is immune to any risk the man is brilliant so go somewhere else. melissa: that was brilliant to save the lme to be chairman i don't need to be ceo. i will go away. i don't need the money then all of a sudden people found religion and that it was a bad idea. >> it is a by. they would be crazy to let him go. he is a target he is a target for everyone from government to the newspaper headlines but hillary hits the nail on the head a terrific ceo doing great for jpmorg