bank. to repay the loan is chosen by the board or she could pay it back in one month she can pay back in six months whatever she decides or two years is flexible but the can not conventionally within most of the borrowers like the end will cycle within a one year in a week to the stallman you pay back your loan and then you borrow another one and continue to do that. but what happens and it's no question of getting into debt burden but what happens if you cannot pay the housing there's no question of up to her if she said i cannot pay back we didn't fifty two weeks of the one year and i need a few weeks weeks more scheduling as long as she wants to pay we have no problem we are not here to punish or for the time period we are here to help her so that she can use the money and earn enough money because these are all income generating loan in other words you invest in something which will generate income and you play back the bank in the stilly have some money left for you out of your income so the term period is not a big concern for us it's up to you and if you say well i thought i'll pay ba

rules our old law allows that so this distinction about the age limit doesn't apply to getting bank board is very clear to men but it in any case. i was asked to resign so i resigned and came out of it but that doesn't mean the whole grameen bank subtly became a foreigner to me this is part of my life it's part of me it's part of my family so i feel i belong to the bank family were there and i'm in a position of decision making or executive position or i'm not but this is my baby and i work together of people who work there is a part of my team but we always work together since is the very day it was born when he was a little infant we not cheerlead in helping to grow any grown nationwide than ugly mean idea has a spread all over the world i still go around do that in that position has not change the relationship or structure so you're somewhat of a senior consultant to the bank now without really having a real power in meddling in its affairs right. well i will not say this word sounds very commercial by delicious serious not a commercial relationship i would just a friend i would say i'

yellen as head of the central bank, the president will nominate three new members to the central bank's board of governors. stanley fisher, former head of the bank of israel, has been tapped as vice chair, while former treasury undersecretary lael brainard was chosen to fill an empty seat on the seven-member fed board. jerome powell, who's served on the board since 20-12, will be re- nominated. the tech company that built the troubled healthcare.gov website-- is out.. the washington post reports the obama administartion is ending its contract wtih c-g-i federal-- the lead contractor of the federal website. according to the paper-- u.s. health officials are expected to sign a $90 million dollar deal with accenture.accenture built californias new online health insurance exchange. the scandal enveloping new jersey governor chris christie could have an economic impact on his state. business insiders have expressed concern that uncertainty and embarassment related to the closing of the george washington bridge in september may have a negative impact at a time when new jersey's economy was showing

the bank's board has voted to increase his pay for 2013. ould reverse a pay cut in 2012 when he made $11.5 million. this comes despite the bank paying out some $20 billion in legal settlements. ali velshi is in davos, switzerland. ali good day to you. what message is jpmorgan trying to send with this raise? >> it depends on who you are sending the message to. it is clearly not to the rest of the world who would find it quite tone deaf at this point. in most places if you or i oversaw a company that cost its company $20 billion of fines in a year, we would be shown the door. but that is not how it works on wall street. he is a rock star on wall street. he is very popular. he is the face of modern banking. he is the survivor from the days of the financial crisis. he is a rock star on wall street because the media made him one. most americans couldn't name the ceos of most banks, but the media latches on to people like jamie diamond. he is very, very popular. he didn't want a bailout, but his bank was okay. he runs a very, very strong bank. he

. >> off the scoreboard, off the bank board, no rim. >> you're always going to be associated with sohe nba. magic johnson, larry, michael jordan. you knew michael so well. of course, you're aware when he stepped away from basketball to play baseball, the pervasive rumor is you had asked him to do that because of his gambling, and you've denied that so many times. >> the media are a bunch of sheep, you know? some person on a sunday morning sports show said, i would like to have been in david stern's living room when x, when michael was there. and i was in my living room but michael wasn't, and somehow it's too much fun to just keep asking. >> it's not just players you've had colorful relationships with openers, as well. and i've got to say mark cuban has been doing nothing but singing your praises. >> well, that's because he's sharpening his knives for adam. we ended into a nonaggression pact. i said mark, why don't you just chill? we'll set up adam together and you'll go after him. >> you've fined mark cuban more than most people's salaries, yet you've won him over. >> i haven't won

who in the united question and he used to be influencing the former by an alp bank board member to sell shares the bank and in formula one to two an investor has defended a chance in the form on the tenth of its concluded nicholson is accused of paying the whole hall. i keep trying to get to talk speak to enjoy his stay in control of formula one. that caused him to the nines that the saying instead that because he was sentenced to eighteen years in prison that's repeated with blackmail. prosecutors are put together a mall than two hundred page indictment and planted called sassy nine witnesses to testify against eccleston. and why he may be stepping down from the day to day operations. ecclestone still plans to stay in charge of formula one. come what may the one they are the talk about the joining us now in the studio is our deed of these sports correspondent jason martin said jason does this spell the end of. bertie couples in korea. but he didn't really write him off he's been around for very long time. that was hella be seen immediately steps had been taken atkinson is stepping down

the bank's board says his handling of the legal issues facing j.p.s among he factors that considered then pending in the big bonus. and shares bucked the trend is soaring in the market debut. the on-line service helping people find family care. nearly $91 million pricing its offering of shares at $17 each. just 43% to more than $24 a share. those are some of the house storesright now on foxbusiness.com. when we come back we'll answer the qustion, how do you do that, th ways to keep your homesafe during these extreme temperatures. one of the reasons for rising as the costs may be because doctors ar being pressured to inflate your bill. corporate managers. we'll tell you all about it. ♪ ♪ >> from the fox business studios in new york city, it's "the willis report". with gerri willis. ♪ gerri: it is an issue we talk about all the time on "the willis report." sky high medal bills. the cost of a single procedure can vary by hundreds of thousands of dollars depending upon which was believed to. well, one was a blower is filing suit against the hospital chai

the bank's board says his handling of the legal issues facing j.p.pending in the big bonus. and shares bucked the trend is soaring in the market debut. the on-line service hping people find family care. nearly $91 million pricing its offering of shares at $17 each. just 43% to more than $24 a share. those are some of the house stores right now on foxbusiness.com. when we come back we'll answer the question, how do you do that, with ways to keep your home safe during these extreme temperatures. one of the reasons for rising as the costs may be because doctors are being pressured to inflate your bill. corporate managers. we'll tell you all about it. ♪ if you wear a denture, touch it with your tongue. if your denture moves, it can irritate your gums. try fixodent ps gum care. it helps stop denture movement and prevents gum irritation. fixodent. and forget it. i know, it's a lot to take in. that's why i've conducted this comprehensive analysis, comparing my prices to my competitors', so you know you're getting a good deal, even if it's not with me! prett

the bank's board says his handling of the legal issues facing j.p.ors that considered then pending in the big bonus. and shares bucked the trend is soaring in the market debut. the on-line service helping people find family care. nearly $91 million pricing its offering of shares at $17 each. just 43% to more than $24 a share those are some of the house stores right no on foxbusiness.com. when we come back we'll answer the question, how do you do that, with ways to keep your home safe during these extreme temperatures one of the reasons for rising as the costs may be because doctors are being pressured to inflate your bill. corporate managers. we'll tell you all about it. ♪ ♪ ♪ [ male announcer ] a car that is able to see, to calculate, to think -- and n respond to what it encounters. ♪ even if that means completely stopping itself. it's the stuff of science fiction... minus the fiction. the 2014 e-class. see your authorized dealer for exceptional offers through mercedes-benz financial services. [ chicken caws ] [ male announcer ] when your favorite f

the bank's board says his handling of the legal issues facing j.p.idered then pending in the big bonus. and shares buck the trend is soaring in the market debut. the on-line service helping people find family care. nearly $91 million pricing its offering of shares at $17 each. just 43% to more than $24 a share. those are some of the house stores right now on foxbusiness.com. when we come back we'll answer the question, how do you do that, with ways to keep your home safe during these extreme temperatures. one of the reasons for rising as the costs may be because doctors are being pressured to inflate your bill. corporate managers. we'll tell you all about it. ♪ this is the quicksilver cash back card from capital one. it's not the "juggle a bunch of rotating categories" card. it's not the "sign up for rewards each quarter" card. it's the no-games, no-messing-'round, no-earning-limimitaving, do-i-look-like-i'm-joking, turbo-boosting, heavyweight-champion- of-the-world cash back card. thiss the quicksilver cash back card from capital one. unlimited 1.5%

bank's board. jpmorgan facing a $2 billion penalty in a case tied to bernie made off. be announced as early as tomorrow according to "the new york times." jpmorgan, madoff's primary bank, is accused of ignoring signs of his ponzi scheme. >> sirius. liberty media offered to buy the 3%pany, valuing the company above its closing price. giving liberty access to a new source of capital as it pursues a merger with time warner cable, expected imminently. let's turn to the call. earlier on "surveillance," i talked with dan alpert of of westwardital -- capital. he said now is the time to get into bonds. >> bonds are oversold. it is not just gross who is a piÑata, it is bonds at this point. again inflation and economic growth and statistics, almost any measure, bonds are oversold. eventually, we will catch up. it,here he is calling saying the spike in interest that has2013 -- created this oversold position and there is now a time and a chance to pick at bonds. been, alix you have covering this very closely. it is an interesting position given that many people say you should stay

to, thewhat it comes justifications the bank boards give for ceo and executive compensation.2 million dollar option award was given to him "to further motivate the executives to focus on the firm's long-term success by providing greater ownership opportunities and reinforce the partnerships that will help to produce excess. >> why do we have such a fundamental problem with that, was annexed are ordinarily difficult year to run a bank. could they not say that they wanted to pay him that money because that is what it is worth? media executives, hedge fund makers, they make 10 times that. why would you not say that he should make more money? >> my issue has nothing to do with the dollars. that is a separate discussion. people can argue until we are blue in the face about whether they deserve the money or not. it is the deserve art. >> you do not like other boards -- >> justification to further motivate? what further motivation do you need besides the money that you get in your salary and bonus already? the morning toin come and work? >> to stay in the company. were decades we ha

been the focus is well documented and any investment will also want to be watching the bank of japan policy board meeting which takes place on tuesday and wednesday this week and to find out if the bank of japan is ghetto and eighty extra stimulus measures. and as such also extending any loans in growth sector so that you focus domestic as well the boj meeting i've ever made currency markets have also gone through some volatility recently. some of that skype has to look at this morning. yet if we read we did see of the color and bustle of a basket of currencies trading in quite chalking up another look at the euro against the us dollar right now it's all right she gained around one percent this year on friday its highest in nearly eight weeks to get a single currency us that was a little bit mixed but people are confident that the economy is making steady progress and dax will likely keep the federal reserve on track to reviews is still as analysts all supporting our concerns about growth in the eurozone economies dollar yen as you can see there hundred and four point one five to two zero on the

think if that is done well and if the regulators really insist that it be done well and they get bank boardn in, not eliminate, but we can rein in too big to fail, diminish the scale of the problem, reduce the probability of severe financial crises going forward. >> his argument is it's less about how the institution sees -- leaves a will and more about knowing who is he can posed to that institution. which pension funds, which global money market funds are exposed to that. we still don't have that level of transparency. >> no, but the living wills do require that. he's quite right, we have to pay attention to who the counter parties are, who has the exposure, which markets do these institutions rely on for funding and so forth. now, those are issues that require a fair amount of resources to really get your arms around. but it's not impossible, and i think good progress is in the process of being made but we have to get to the goal line. this is the playoff time in the nfl and scoring is very important. >> final question, have you heard from the white house with regard to taking one of the

bank's social responsibilities. >> the plan thought to said an outside panel of experts will name board members of the bank's holding company the mizuho financial group. that will start in june this year. the group will also decide their pay. he also said five to six of the board members will be chosen from outside the financial group, and they include the chairman of the board meetings. >>> okay that is going to do it for biz tonight. let's see what's going on in the markets. >>> every morning, investors turn their attention to asia. the tokyo market leads the way. and markets around the world follow. >> from the decisions that could change the course of an economy. >> to the latest business trends. >> up to the minute market reports. >> an analysis by specialists from around the world. >> get all the latest business news and insight every day, here on "newsline." >>> the japanese affiliate of the pharmaceutical giant novartis is again facing questions related to clinical drug studies and the role its staff played. nhk has learned that novartis pharma sales people had access to the results of tests for a new medica

kovacevich, the rise in the banks across the board has been pretty significant. lthy, in your opinion, as the rise in their stocks suggest that they are? >> yes. i think they're very healthy. you know, we -- the capital is strong. in fact, i think many banks are actually overcapitalized at the moment. costs have come down. credit is terrific. i mean, it's -- we have the lowest delinquencies that we've had, perhaps in history. that's going to stay the same. but the challenge going forward is we have to grow -- the industry has to grow revenue. and you can't keep relying on credit reserve pushbacks and cost decreases. you have to increase your revenue. and also, hopefully, the fed will allow, because of all this capital, for further increases of further dividends and stock buybacks. if the industry can grow its revenue, which i think it will in 2014 and be able to give more money back to its stockholders, it should be still good for the stocks. >> dick, great to speak to you, as always. thanks for your time. >> thank you. >> dick kovacevich. josh brown, answer guy a

to try to be a universal bank and provide the biggest clients and services across the board from equityome and banking. >> i guarantee he will not say that. >> are there examples where he --l say, >> absolutely. the two leading firms are jpmorgan and ourselves. that should tell us something. >> how many universal banks do you believe the world can support? a small tear of the leading firms. regionall be more players. question,k to your you have to be very disciplined about client selection. who you lend to and -- where you invest, where there is a flow. >> in 2006 in 2007, were you saying the same thing? was that a mistake we saw and banking we >> broadlyn today? speaking, there was a lot more all aspects of our business we have today. it has changed. in a good way. >> thank you very much. of global corporate and investment banking at bank of america and merrill lynch. here with us at the world economic forum. >> more in just a few. stay with us. ♪ >> is time for bloomberg to go on the markets. little change right now for the s&p 500. nasdaq futures at a two-year high because of the fri

while taxiing it slid into a sne bank. 35 people or on board. no one was hurt. >> travellers continue to face long lines at san francisco international airport. flights were cancelled today. travellers waited inside terminal 3 to get rebooked on united airlines. bay area travellers are feeling the ripple effect of cancellations atunite's other hubs. >> all hands on deck. everybody worked together but it just wasn't going that way. >> we have been here about two hours standing in line. there's one person here who can help with ticketing for the rest of the week. >> there were no cancellations in oakland or san jose. children's hospital oakland announced it released the body of jehi mcmath to a destination unknown. she is the oakland girl declared she is the oakland girl declared brain dead after fifteen minutes could save you fifteen percent or more on car insurance. yeah. everybody knows that. did you know there is an oldest trick in the book? what? trick number one. look-est over there. ha ha. made-est thou look. so end-eth the trick. hey.... y

bank's board.e other during the last few months with each other being rejected. >> neither of these guys talk to each other. you'd think they both want to own each other, they'd be talking constantly. >> what is that going to mean if the deal goes through? >> the problem is -- i don't know. >> do they hate each other? >> there's the price but also the social issues. in both cases each company wants to run the other company. so that's sort of -- >> that sounds like it's a mess setting itself up. >> ultimately it will happen one way or the other. just a matter of who will capitulate first. >> this is like us talking about -- me talking about abercromb abercrombie. you know nothing about either one of those firms, nothing. i don't think you've walked by the outside -- >> you're talking about it from an operational standpoint? >> yes. you don't own a tie or underwear, a jab etcket, a suit >> not true. >> which place do you own a single article from? >> i own a belt from joseph a. bank. it's not plural.

bank said in a statement it's board considers the deal undervalued. reports say now... men's warehouse plans to pitch the deal directly to joseph a bank shareholders. the markets, industry and the public are still coming to terms this week with the president's plan to rein in government intelligence gathering. phone companies are bracing for the overhaul.a big question that remains is whether those companies would be responsible for collecting phone records of americans. there is some fear that might put companies at a greater risk of being sued. in sum president obama will end the broad collection of phone data by the national security agency, move the data outside of the government's control and will restrict eavesdropping on foreign allies. as the nation that developed the internet, the world expects us to ensure that the digital revolution works as a tool for individual empowerment rather than government control. the president said he has not seen any evidence of abuse in the nsa's data gathering and insisted it remains an imporltant tool to locate and prevent terror

he was turning from the runway to the taxiway when the plane skidded right into a snow bank. 32 people were on board. no one was hurt, but the plane had to be towed from the runway. after that, jfk shut down for a couple of hours so those runways could be deiced. in aspen, colorado, over the weekend, investigators say high winds led to a deadly plane crash. the co-pilot of a small plane was killed when that plane tried to land at the aspen, colorado, airport. and in chicago, icy temperatures and blizzard-like conditions have forced the cancellation of half of all flights going into and out of chicago's o'hare international airport. all of these issues creating a ripple effect for passengers across the country. this morning the website flightaware.com is reporting that already more than 2,300 flights have been canceled for today. that's on top of the 3,800 flights that were canceled yesterday. this is something that travelers, though, have been dealing with for days. hundreds of people have been camping out in airports since friday. of course, frustrations, we know, are running high, but the airlines

, we had this discussion when you were in my office about community banks and sitting as chairwoman of the san francisco federal board you have a pretty good understanding what is going on out west, california, nevada, and as you're aware of, as i shared with you, we lost half the community banks and credit unions in our community, making it very, very difficult for choices. making it very difficult for housing recovery. getting loans for small businesses. and i guess the question is, what steps will you take to avert a culture of consolidation of these major banks and the loss of the small community banks? >> well, senator, in the first place, to the. >> tent that the large banks have an advantage because they benefit from a too big to fail subsidy, i think our objective in regulation should be to put in place tough enough regulations and capital and liquidity standards that we level the playing field and make it costly since those firms do pose systemic risk to the financial system. we should be, making it tougher for them to compete and encouraging them to be smaller and less systemic. and, with respect to the com

financial crisis in a generation, the board things less than willing to delegate critical regulatory and supervisory decisions. i think we need to make raining in the banks a top priority for the board. i know the board meets regularly to discuss monetary policy. do you think the board should have regular meetings on supervisory and regulatory issues as well? with that make it clear that both of those are important to the fed? >> i absolutely believe that our supervisory responsibilities are critical. they are just as important to monetary policy and we need to take them just as seriously and devote just as much time and attention to them. the board operates under a variety of restrictions. you may know about the government sunshine rule. when you suggest that the board meets to discuss regulatory matters, our ability to do so outside of open meetings is very limited. we tend to handle those issues by meeting individually with staff or meeting in small groups. we have a committee system where committees are put in charge of managing particular areas and making recommendations to the board. i remember in the 1990's, the board did meet regularly to discuss

this was more than a theoretical possibility that jpmorgan really believed, this is the board, that the banko be -- that eric holder, the justice department through some sort of a deal would have forced a breakup. now, if you notice the last deal, does not address that. the madoff deal that's coming over the bernie madoff claims that, eventually, you know, we should point out that jpmorgan for even though handled some of madoff's accounts, held for years it had nothing to do with madoff. you have to ask why are they paying? they are paying all in this because they know that they have to get this behind them, that the government could force a breakup. that's why they're caving this. and they were worried -- cheryl: this is why they shocked wall street when they came out with their last earnings report, and the amount of money they put aside for legal fees was jaw-dropping. >> 20 million. cheryl: a shock. >> and, you know, here's the thing, they may be out of the woods yet, we're not reading about them. we'll probably read ant them in the coming days in and when they settle this madoff case, b

bank of japan. the governor's board will continue to expand the monetarily base for $70 trillion yen. the forecast includes 1.9% in the year beginning april 2015. nd he was wide reviewed. arian resigns from pimco. doug louse honch will become its c.e.o. now i'm very pleased to say that the european commissioner for the agenda and v.p. for the commission joins me now. thank you so much for joining us. this is a topic that is really at the forefront of european growth. we talk about the start-ups, entrepreneurship. are we doing enough to lend to small companies entrepreneurs. what can europe do better? agree r one, i don't should be this one. it's a one-way traffic so to say from europe. it's not true. so quite the number of them are coming back. by the way also quite a number of start-ups u.s. citizens. and that was marvelous. we -- i invited a couple of founders, successful founders in urope, the founder of skype, spotify of 20. and i offered them a cup of coffee. and they were saying why are you inviting us? and i said well, you already proved that you can make it and that you are do

can you tell us what your ideas and heal our focus is getting beyond that first up policy board meeting of the bank of japan on tuesday and wednesday and this is really to be keen to see. or look out for any clues as to any further monetary easing measures let's not forget the bank has already pumping around seventy trillion yen a year to try to post it as a colony of us have a look at the opening doubles for today cheesy january twenty first and both indexes in the positive. for the first few minutes of trading as you can see that not many just remind viewers of course the nikkei has closed in negative for the last three trading days. seoul foreign asian shares also ended mostly lower yesterday as well as china's gdp slowed slightly in the fourth quarter. now this couple seat in the corporate news of course blogger is coming out the bus is really getting highly scrutinizing a lot about looks and guidance from companies we deftly saw that when nintendo it yesterday as is the share price plummeted after it announced on operating losses for this fiscal year. so to continue to watch how that affects o

janet yellen was elected to be the fed's next chairman after a formal vote by the board of the nation's central bank. tomorrow is ben bernanke's final day at the fed. yellen will be sworn in on monday. >>> coming up, a new study says those on the public health exchanges are getting a pretty good deal and that may be very appealing to your employer. . >>> a warning about those heated seats in your car. toyota is halting sales on thousands of top selling late model vehicles because the fabric used on heated seats may not be entirely flame resistant. they are working on a fix for the problem and says there have been no reported incidents. >>> many american businesses are taking a fresh look at the government's health exchanges. it now appears that consumers who have purchased health insurance through a state or federal exchange are getting a pret thank you good deal. lower insurance rates are one reason business owners are thinking about making a switch as well. bertha coombs has more. >> reporter: starting in april, target will stop offering part-time employees health insurance. it said buying governm

bank after landing. no one was hurt on board, but the incident prompted authorities to shut down jfk for about two hours. affected cities throughout the day include chicago, new york, boston, newark, washington, d.c. and philadelphia. and we found several passengers here at sfo who are being told they won't be able to get to their destination for at least another day. >> we're used to traveling with a military, but this is just flat out ridiculous. it took us -- yesterday just to get you know, any form of a ticket to get back to anchorage, so my feet are sore, everybody else is upset and i feel bad for these guys. >> i got an e-mail saying my flight would be canceled for tomorrow morning, but i tried to call. i guess there was like high call volume. i couldn't get through. >> in addition to the problems with the weather, an american airlines flight was diverted to kansas city today for security reasons. our nbc affiliate is reporting that american airlines flight 24 made an emergency landing there af somebody found an unattended flash drive. in addition to those 66 canceled flights here13zy today, there

the agency blamed the bank's internal divisions and poor oversight by the board of directors. >>> that is going to wrap it up for biz tonight. let's get one more check of the markets. >>> every morning investors turn their attention to asia. the tokyo market leads the way and markets around the world follow. >> from the decisions that could change the course of an economy. >> to the latest business trends. >> up-to-the-minute market reports. >> and analysis by specialists from around the world. >> get all the latest business news in insight every day here on "newsline." >>> japan and taiwan have started talks to set operating rules for their fishing boats in waters near the senkaku islands near the east china sea. the two-day meeting opened on thursday in thursday attended by government officials and representatives of fisherman from japan and taiwan. the talks are followup to an agreement reached in april last year that allows taiwan to fish in japan's exclusive economic zone. japan says the islands are an inherent part of its territory according to history and international law. some

board when i was there. then she subsequently became president of san francisco federal reserve bank and when she wasn't at the board meeting she was at the federal market committee meetings. she is an extraordinarily good economists. she had found was very helpful to me because she was a professional academic and a very significant insights into where various different theories were coming up and the like in academia. i mean i obviously have had an awful lot of education and i did actually teach school for a while but i was essentially a private economist in my early years for a long period of time. there were a lot of theories that have been developed and they never had time to watch them which i never really followed very closely and i didn't quite understand them. i used to go to janet and asked her come explain this to me. she was terribly helpful. i can imagine it would be otherwise, but she is going to have a very tough set of problems and i think she knows it going forward. >> and what about the fact is she would be the first woman? is that important? >> i made a public statement that its extraordinary

he almost seemed to imply we need to get all the world's banks on board, even in terms of compensationlion euros is the maximum over here. >> that's in france. >> in france. >> that's what i'm talking about. that will never happen. i don't think you would suggest that that -- he actually said it needs to be the right number for society. and just hearing that, you know, to me, that rings of hypocrisy and absurdity to me. >> you're outside of my field. i'm not a banker. >> talking about compensation and whether there should be a cap on talent, even in france on how much a banker can earn. i would like to be able to hire the very best people for my shareholders to run the bank. >> look, i'm a capitalist. >> you say that but the way you say it, you cop to it? >> i'm proud of it. >> are you? say it loud and say it proud. >> i tried to call him democrat during the panel. he said, no, no, no, i'm a capitalist. i think there should be a free market and compensation like in everything else. we need to have a social compact where people look at the amount of money people makes and say that's fai

sandra: then we have the bank stocks with red arrows across the board at the height of the bank earningspect them to report healthy earnings. from one year ago citicorp and bank of america had a weak fourth quarter we expect those to go up the financial sector is supposed to have a good quarter primarily due to the insurance companies not having to deal with hurricane sandy like 2012. but the banks will have to progress and what is important is to take a look at the yield curve. the fed has signaled they will be anchored so that is a good scenario for the banks than likely we will see that money runoff. sandra: everybody is talking about the jobs report on friday was the changing of the guard as far as the market's expectations going forward. are you in that camp? >> not really. that report was a little strange if you did a massive decrease because the people dropping out it does not signal any kind of strength in the labor market. queeney to look up the report before we start making claims that the whole of the labor market with the economy in 2014. sandra: thank you for joining us. >>

so similar results were found by economists at the federal reserve board bank in atlanta. so they had a look at it. the prominent labor economist david card of the university of california-berkeley, this is his statement: statement: it shows that the result is higher unemployment. however, it is not only lower wages that working americans have to about a ir, but it will be higher unemployment as well. so the rapid increase in immigrant population, especially those in low-skilled segment of the income distribution, will overwhelm the ability of the economy to produce jobs and increase wages. thus, congressional budget office that senate 744, a bill that passed here, would raise the number of unemployed americans during the first five years by an average annual number of 162,000, and that unemployment would -- quote -- "remain elevated through 2020." this is a stunning conclusion, especially when compared with what c.b.o. argued in its 2013 budget outlook of februar februy 20136789c.b.o-- februarfebruary 20 ^1 13. they project that we would only create 75,000 jobs a month. i

board. i think bank of america stole merrill lynch five years ago. this is the part of the profitability of this firm. and along with the interest rate factor, that's why this company still has room to go. >> should we be concerned about the litigation expense they took? it was $1.8 billion more than they estimated. credit suisse's point is in future quarters, they will have to take a litigation expense. >> i think jpmorgan is writing the playbook on this stuff. people are willing to put it in the rear-view mirror and look beyond it. it could be incrementally higher than what it is. but for the most part, people are looking backwards. >> i think bank of america is a strong value. but i was concerned about the mortgage orangeation numbers. that is a bread and butter business for bank of america. with rates go up, you see less mortgage originations. they're a solid long-term growth story. you're going to see small business lending in 2014. >> and the merrill lynch side of the equation with bank of america. the stock explodes 20 cents through the 52-wee

bank. to repay the loan is chosen by the board or she could paid back in one month you can pay back in six months whatever she decides or two years is flexible but the can not conventionally we didn't most of the borrowers like the end will cycle within a one year in a week to the stallman you pay back your loan and then you borrow another one and continue to do that. but what happens and it's not a question of getting into debt burden but what happens if you cannot pay the housing there's no question of oh it's up to her if she said i cannot pay back we didn't fifty two weeks of the one year and i need a few weeks weeks more rescheduling as long as she wants to pay we have no problem we're not here to punish her for the time period we're here to help her so that she can use the money and earn enough money because these are all income generating loan in other words you invest in something which will generate income and you pay back the bank instantly have some money left for you out of your income so it's time period is not a big concern for us it's up to you and if you say well i thought

banks and other sectors. we certainly want to talk about persia. it's board approved a $3 billion capital increase, this according to reports. the company is revealing a dramatic drop in car sales. stefan has more now, what is the share price reaction? >> very negative because of the substitution price, ross, according to the capital increase would be around 7.5 to 8 euros per share. that's the main negative pressure on the stock today. yesterday the board approved the broadlines of the capital hike, $3 billion euros, but also gave the dates to the ceo to leave the negotiations with the chinese carmaker and with the french government. according to this report, the french states would invest $50 million euros and the carmaker would get a 14% stake in the company. the peugeot family would face a significant dilution, but barclays would get the capital increase in order to keep the 14% stake in the company. so that's one part of the story. the other one, ross, is the financial results for 2013, peugeot said they had 4.9% decline in sales from last year because o

. >> jose bank shares continue to hover near session highs. the board of directors issued a statement about its ongoing battle with men's warehouse. men's warehouse issued a tender for jose bank, and says it's evaluating all options and recommends that shareholders do not tender shares until they can make a recommendation. the board says they will make such a recommendation on or before january 17th. back to you. >>> as interest rates rise, you will see right now a one-month chart of the ten-year bond. there it is, the yield coming down just a bit today. it is expected to pick up, as it has for much of 2013. will investors switch from dividend stocks to growth focused choices in this new year? seema mody has been doing research into this. what did you find? >> investors are already shifting from high yielding dividend stocks to growth stocks. however, as rates pick up and the economy accelerates, shed the extremes of high yield or high growth and find a hybrid of the two. we went looking for stocks with strong earnings growth and also paid a solid divid

banks. and then there are the people at bloomberg -- >> she is not going to be holding an executive position. she is not going to be supervising anybody. she is going to be on the boardnd she has perspective that is highly valuable to a spanish bank. >> i would want her on the board if i were them, but the question is, do they want her on the board, or do they want her reputation on the board? a champion of the public. companies when you are on the board are the ones that need to buy a reputation. former heads of the standards board. knows what she is getting into. >> a matter of perception. sheila bair may not feel like she is renting out her reputation, what is everybody else does -- >> a part-time job that pays really well. >> hopefully it is a part-time job, because if the bank ever blew up, it would be a full-time job. >> is the way this has been handled a lesson for anybody, or maybe not yet? former fdic chairman from never80's, a fellow who got on a high moral horse. fdic, heving the ,ecame the chairman of a bank definitely a critic of legislation, and one of the things that happened after he got there, fifth third got in trouble for violations by the security

bank. a look at big board and see how the numbers are faring right now. the dow is up 92 points.he s&p is up by 8 points. michelle and frank back to you. >> looking good okay jason brooks thanks jason. >>> well, they've looked suspiciously like illegal casinos, computer cafes where you can take your chances on winning cash. only on kpix 5, christin ayers found out one lawmaker is cracking down. proposing a ban that could knock them out for good. >> reporter: critics call it illegal gambling but the people running these businesses that are cropping you want all over california -- up all over california and the bay area claim they're internet cafes where customers can choose to play games and win cash. >> i'm absolutely satisfied as an attorney that the software program and the business does not in any way violate any california gaming or gaming law period. >> reporter: that's what a lawyer representing a slew of the so-called cafes all over california told us last november. but his clients' luck may have run out. because of a new bill proposed in the legislature today. >> ab 1439

the board of joseph a bank has rejected the unsolicited takeover offer from men's wearhouse. d unsolicited takeover offer. the bid was up to $57.50 a share. the board has rejected that offer. they are telling stockholders not to tender shares. >> consumer, where art thou? time for a little insight in action. lastat the news over the 24 hours. ups, nintendo, and best buy trending lower. the company's guiding lower, but stocks are still up. sense.es not make any our concern is, who is next? 355 retail ande consumer stocks in the s&p 1500. on hundred 11 reporting in the next few weeks. 19 of those, analysts lowered their numbers. d, ebay, expedia, ralph lauren. if you want to see the full list , go to twitter. i posted a link to the blog. ♪ ask last year's most hated etf hoss might become the loved ones this year. tell us about some of these surprise turnarounds. >> this year so far, expect the unexpected. one example that was hated last year and is bouncing back is the ishares national municipal bond ipf -- ietf. this has bounced up 2%. it went several months without closing at

bank. asis an american citizen well as an israeli citizen. >> we had americans who served on the board of governors of england. the head of the bank of england came arm -- from canada. who run the u.s. are concerned about what is good for israel. thatsecurity breach affected a whole lot more people than originally thought. about 40 million, it turns out it was more like 70 million people that were affected. nearly double. falling 2.5 are sent. the company said it will close eight stores on may 3. all i can say is thank god i did not shop at target. >> i did. am nervous and i am kind of pretending this is not happening. i feel like i -- i am very worried about my debit card. card but my credit linked to my debit card. the bank is good about stopping any purchases. >> there is only 250 million adults. inthey quit their jobs november. >> this is the business for the company that -- companies that do credit protection. you have companies like , companies that sell these consumer protection programs, credit monitoring programs. >> it is good business for them. corporations need to think about approving

maria contreras-sweet founded and chairs the board of latino owned pro-america bank in los angeles, which provides capital to small and midsize businesses. that nomination now goes to the senate for confirmation. >>> and small business website's new survey of 1100 small business owners asked who they got their best business advice from. top answer, 27% said another business owner. 20% said an industry expert or business role model. model. >>> you may already be posting videos on facebook and twitter but how about on linkedin and tumblr? here are five tips on how to leverage video on these social networks to fuel your marketing efforts courtesy of ysf magazine. add links as an attachment or paste them right into the status update box on linkedin. connections will appreciate the change of pace. two, use attractive stills. take an eye catching image that will entice your readers to click and start the player. include a quick sevntence or tw that lets the viewer know what they're in store for. four, choose the right format. tumblr, for example, is well known for image friendly posts and anima