to foreclosures the support of the coal industry day one bank of america to cut principal payments on mortgages that are underwater restriction for closure. of bank of america it's about a new policy that was qualified homeowners to reduce their loans filing outside the bank of america's annual shareholders meeting this is in charlotte north carolina hundreds of people have gathered for a protest kind of an occupy type. protest outside of a shareholders meeting for bank of america police they are surrounding the bank's headquarters and protesters say that the bank has also hired private security calling for a moratorium on foreclosures they're also carol calling for the c.e.o.'s pay package of bank of america to be voted down he is expected to get seven million dollars. now like i said i was surprised that this got me coverage from the cable network so at least it's a start but i do wish that the media would have gone more in-depth first starters they didn't even bother to mention the city manager had decided to call this shareholder meeting an extraordinary event so that means that i

occupy bank of america protesters are outside the banks headquarters right now ninety nine percent they are back in a big way this time they're taking aim at bank of america the members of the so-called ninety nine percent power coalition they organize this event protesting the bank of america's actions in regard to foreclosures the support of the coal industry day one bank of america to cut principal payments on mortgages that are underwater two to three streets in foreclosure so the bank of america. it's about a new policy that was qualified homeowners to reduce their loans shiling outside the bank of america's annual shareholders meeting this is in charlotte north carolina hundreds of people have gathered for a protest kind of an occupy type protest outside of a shareholders meeting for bank of america police they are surrounding the bank's headquarters and protesters say that the bank has also hired private security calling for a moratorium on foreclosures they're also carol calling for the c.e.o.'s pay package of bank of america to be voted down the he is expected to get seven mill

what was the structure, how do you do it, what ises sense of what it's like when you're a dissident voice in a shareholder bank like bank of america>> more than 1,000 people were out on the streets outside of the shareholder meeting raising issues from everything from talking about foreclosures to the environmental impacts of bank of america's investments calling them bank of america to pay taxes. they've avoided federal taxes this year. and protesting the fact that while 30,000 employees are getting laid off executives like brian moynahan are continue to go get incredibly hyponewses in the millions. now inside the meeting one more than 100 people, 100 shareholders and proxy shareholders who were there to speak up about bank of america continually putting the pursuit of profits ahead of looking out for people, looking out for communities. it was really, really interesting shareholder meeting. i've been to many before, and this was the first one where i felt the people and their issues held the floor and dominated the meeting. >> did you get a sense of support from the shareholders who were there and did you get a sense of support

i think bank of america scrambling and i'm still very very negative on bank of america all rightfrance mckenna right a time thank for being on the kaiser report thank you and that's going to do it for this edition of the kaiser report with me max kaiser and to stacy herbert i was like my guest francine mckenna is going to send me an e-mail please do so and i was a report at our t.v. are you and so next time i got a saying by all. technology innovation all the developments around. the future every.

and now it's occupy bank of america. otesters hauled off in cuffs for trying to-- >> freedom of protest and these people have robbed our country yet apparently we're the criminals. >> what were they mad about? they were mad about the ceo compensation package and, man you will be too. and then there is a pastor. >> the second you see your son dropping that wrist, you go over there and crack that wrist. >> a reporter confronted pastor smith. you won't believe what he has to say. we have michael hastings, and we'll talk about whether the c.i.a. bomb threat is for real, shouldshould we be scared or not? we have it on a historical day of the "the young turks"." it's go time. ♪ >> an amazing day. you're going to be watching the footage of the president from now until the day you die. i promise, it's going to be coming up. people will look at it and say my god, barack obama looked so young then. it will be in the presidential library. it will be everywhere. at 3:00 p.m. today president obama said he supports gay marriage. this w

bank of america had tarp loans and the u.s. treasury owned warrants in bank of america but as you know that has been paid off in the warrants have been extinguished and paid off so i think it's you know if you want to influence a corporation then you should buy stock in it and start agitating because that is your right as a shareholder unfortunately unless your cowper's which is a big shareholder in california you're not going to really be able to influence a management or a board of directors but at least if you owned a share of stock or many shares you can use those rights as a shareholders to agitate for change if you believe in it but again i don't think people protesting outside of the corporate headquarters or even passing there or even advocating for this resolution inside the board meeting tomorrow is going to have much effect unfortunately you know. governor romney may think that corporations are people for the purposes of the citizens united decision but they can't they have no shame like people they can't be shamed in

happen 99 percent are being cut and not the ceo's, but most part it is the secretaries. >> and bank of americathe reports has more employees that qualify for public assistance. and of course they are cut. but let's be clear. bank of america in a robo foreclosures and for military families. they have taxpayer back stop that they have not paid back. you are blaming the poor people who show up because they want worries. that is ridiculous. >> no, i am paying the people who are disrupting the businesses that are trying to create businesses. >> we are talking about people who showed up peacefully at a bank of america shareholder. >> why is it they protested by throw tea in the sea it was patriotism. >> tracey, a lot of the protest throughout the last year hasn't been peaceful, is that the problem here? >> the problem here is that the message is so wrong and they are not getting the point out and all they are doing is hurting the economy in the end of the day. businesses have to hut down because these guys are making a point. nothing gets accomplished out of the protest; what good is it. >> sharehol

we are pleased to have as our presenting sponsor for 2012 the bank of america. they have been a great partner. we are excited to have them on board recognizing the importance of this for the city's economy. i want to ask the senior vice president and a small banking manager to come up and say a few words. [applause] >> first, i want to say thank you for being here, mayor lee, thank you for the hard work and the team that helped to organize it. it is such a wonderful event. bank of america is truly excited and proud to be sponsoring sunday streets. mayor lee indicated how important this event is for him. it is important to us as well. we believe this event will not only help the local economy by stimulating neighborhood business, it will also help make this beautiful city of san francisco even more vibrant. it will attract more tourists and more neighborhood businesses. we believe it will bring us even closer together. we will make our city more enjoyable to local communities and attract visitors and enhance the experience of fabulous san francisco. we are delight

>>neil: still, i wonder, bank of america makes a convenient target and it is odd the president will speaken he accepts the party follow nation this summer in charlotte, having said that, do they have to move on to other, obviously, the batches are hurting to the diagnosis they are lays off to the degree that bank of america is, do they need institutions that are not in such pain? >>guest: look, what they ought to do is target the government. the government is the one who gives the bailouts to the banks, it is not the bank's fault but the government's fault. bank of america operates in a profit system because government is the one would protects their losses by giving bailouts and subsidies, so, if occupy really wants to get to the problem they ought to come here to washington, dc, and occupy the white house. >>neil: do you think, i thought it would happen in france last weekend, when sarkozy was shot down, he was relatively meager on us austerity and it was rejected by the french voter and that is the message of occupy wall streeters cool it on cutbacks and cool it taking away anything. g

banking system is changed. what are they looking for? i just don't get it because you're not doing anything to change the laws and the structure of the real banking system by protesting outside of bank of americae steps of -- >> right. >> but i get it to. we are all frustrated. we have 8% unemployment. i'm mad, too. >> whyeah, exactly. >> okay. we're going to take a break as we head towards the close. >> we're going to go to the head of news corp. the company reports earnings. the bottom line will be hurt because of the ongoing hacking scandal. >>> here's a look at each sector of the s&p and how they are trading at this hour. s hour. on my journey across america, i found new ways to tell people about saving money. this is bobby. say hello bobby. hello bobby. do you know you could save hundreds on car insurance over the phone, online or at your local geico office? tell us bobby, what would you do with all those savings? hire a better ventriloquist. your lips are moving. geico®. fifteen minutes could save you fifteen percent or more on car insurance. >>> welcome back. coming from the floor of the nyse, we are coming to you from the chiquita brands. cqb is the ticker symbol. it's 30% lower on chi

bank of america's cut of that was $11 billion. but the numbers could go higher. >> anything above that we are prepared for. we've committed to doing every customer in that $22 200,000 whs eligible. we will offer them principal forgiveness. we have that calculated into our earnings and we prepared for it already. >> to be eligible you have to be underwater on your mortgage, that is, owe more than your home is currently worth. you have to have been delinquent already on your loan as of january 31st of this year. that means you cannot start missing payments now to be eligible. and your loan has to be serviced by bank of america and either owned by them or by an investor that allows these modifications. now, is this fair to the 90% of u.s. borrowers who are still making their payments? many of them are underwater as well. >> we get that 10% into a modification, which they can then become a performing loan, so we get them down to a balance level and an interest rate, they can start making their payments, stay in their homes. that'll be

just been too quiet for too long. >> and despite the protest nationwide and in charlotte, bank of americaed all of its shareholders into today's meeting to vote. back to you. >> about 92% of bank of america's shareholders approved the bank package for president brian moynahan. >>> time for a quick look at the stories you'll see in the baltimore sun. a tribute to the late auth are or, maurice sendak. >>> five tips to keep your skin safe. and coverage of the ncaa lacrosse tournament. for these and more, read the baltimore stun. -- sun. >>> there may have been a lot of partying going on in one pennsylvania county this weekend. that's because two tractor- trailers, each loaded with $15,000 worth of corona beer, was stolen. it fell on the same weekend as cinco de mayo, when the mexican beer demand is in high demand. police say the theft from the allen distribution center in carlisle is a crime being taken seriously. although they may have a hard time finding evidence at this point. >> seriously, i would take it seriously, too. that is a lot of beer. >> sure is. >>> still to come tonight. braze

>>neil: imagine if they have toy 10 the president is brought to you by bank of america. uest: and isn't bank of america someone who they constantly demonize. >>neil: the stadium is nice. thank you, michelle. forget service usa, what about the man running the1&m usa. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. ♪ i can do anything ♪ i can do anything today ♪ i cano anywhere ♪ i can go anywhere today ♪ la la lla la la la [ male announcer ] dow solutions help millions of people by helping to make gluten free bread that doesn't taste gluten free. together, the elements of science and the human element can solve anything solutionism. the new optimis [ creaking ] [ male announcer ] trophies and awards lift you up. but they can als

. >> tom: most bank of america shareholders are okay with that bank's executive pay plan. 92% of shareholders approved bank of america's plan, which did not include any cash bonus for c.e.o. brian moynihan. >> reporter: there were a handful of arrests at bank of america's annual meeting and demonstrators marching in protest of its business practices, but the bank didn't have a shareholder revolt like rival citigroup. last month, citi shareholders gave a thumbs down to that bank's executive pay plan. these shareholder "say on pay" votes are required under the wall street reform law, but the votes are non-binding. the compensation for bank of america boss moynihan last year totaled almost $7 million-- just under $1 million in salary and $6 million in restricted stock-- but he received no cash bonus. that was the plan shareholders agreed with today. just last week, the c.e.o. of sprint agreed to cut his compensation by $3.25 million. dan hesse took the action after shareholders complained his pay formula did not take into consideration the big cost to sprint for buying iphones. apple charges spr

bank of america launches job cuts. the second largest bank will be getting rid tough 2,000 positions in wealth management, investment and commercial banking. not among the 30,000 bank of america cuts announced last year. >> three years after one of the largest recalls in u.s. history. toyota appears back on top. the japanese automaker report aid 12% jump in u.s. auto sales last month. a study by yahoo! auto rated it highest quality vehicles. ford, second. facebook shares could trade on wall street as early as may 16th or 17th. the social media giant is expected to start marketing its highly anticipated initial public offering as early as monday. it is widely speculated facebook could be valued at $100 billion. >> yankees all-star pitcher, andy pettite took the stand in the roger clemens trial. when the two were team mates. clemens admitted to using human growth hormone. clemens said that in his words, pettite mis-remembers the conversation. clemens is accused of lying during the 2008 congressional hearing on drug use in

status quo really control most of the votes which are the investment managers on wall street so a bank of america you know they were they were bailed out foreclosed on a lot of people their c.e.o. still making eight million dollars and so so we've formed a coalition and bank of america and thirty nine other companies we put forward shareholder proposal saying that boards of directors should disclose to shareholders how shareholder money how corporate resources are used given to trade associations given to organizations like alec which has been perpetuating the stand your ground law the chamber of commerce you know there was a study that the i.m.f. did after the bailouts that showed that banks like bank of america it was specifically named. that lobbied were more likely to need to be bailed out. interesting yeah because they were they were floating on the back of their their ability to get preferential tax treatment or something like that or. get in as i want our union and many other unions and civil rights organizations were instrumental in getting the dodd frank wall street reform act passed but

welcome back to the big picture i'm tom arbonne coming up in this half hour a bank of america has become the latest big bank to layoff american workers relocating the business operations and call centers to the philippines lawmakers in washington doing anything to stop job outsourcing are they happy to see american jobs lost to foreign countries also with a trillion dollars of student loan debt in america students across the country are finding it impossible to get a higher education without drowning in debt how do we get to this point and what can be done to reform the student loan industry so that every american can afford a college education and the koch brothers have bankrolled conservatives and funded misinformation campaigns because they believe in trying to cause a government shutdown and i'll tell you and i'd still lead to. the is the new american job killer is bank of america less than three years removed from except in a forty five billion dollars bailout courtesy the american taxpayers bank of america announced plans to layoff thirty. thousand american workers and relocate its

bank of america-- $91 billion on a single day. l bank of scotla, ubs, all the biggest banks in the world, had borrowed way more than we ever thought. >> narrator: the loans were part of an unprecedented intervention in the financial system. in all, the federal reserve made available more than $7.7 trilli in loans, commitments and guarantees to financial institutions around the world. >> the data shows the fed was lending not just to american banks, but to banks all over the world, and in amounts that were really astonishing. >> another big bank is in the black... >> people starting to get comfortable that maybe these banks can earn through their problems... >> narrator: but in that spring of 2009, in new york, the public was hearing good news about the banks. >> bailed out banks reporting billions in first quarter profits... >> so should we be outraged or enthused? >> narrator: just in time for tim ithner's stress tests. >> they sent all these supervisors from the fed to kind of look up and down the banks and to see if they have en

>> bank of america feels this is profit making for bank of america.s and it only works if it's net value positive for them and for them they view it as being mvp positive. note, this is only for a small segment of their population. so it's not as though if you simply won't pay, you are eligible. it's if, from their estimation, you cannot pay. >> it's probably going to be profitable. they are forced into this settlement. a lot of the money is going to states. it's going to be profitable because if i'm a current bank of america customer, they are going to jack up fees to cover the losses, right? >> no. it goes the other way. if these loans were to go to foreclosure, which is the path that they are on, it would cast all of us and particularly other homeowners more. >> but if they do go under foreclosure, of the loans that are being modified since january 2008, there have been 24 million and then 52% of those delinquent p or in foreclosure. so it doesn't necessarily prevent foreclosure. >> however, if i may, that's why this is very new and different. this

bank of america shares are falling today. that's despite the bank's new mortgage reduction program, maybe because of the mortgage reduction program. right, guys? we going to roll through this so i can get to diana? >> i thought you were going to throw right to her. >> now in a mass mailing, b of a is offering underwater borrowers a special deal. does bank of america really want people to ignore those letters? diana joins us live from washington. we are so cynical. we're wondering if bank of america says, they're going to offer principal reduction, but when the envelope comes, they're hoping it looks like junk mail and people are going to throw it out? >> i don't think they want you to ignore this because this is what they have to do to comply with the $20 billion robo-signing mortgage settlement. their cuss t of that was $11 billion, and they have to reduce principal. they're offering 20,000 customers $150,000 off their principal balance. they claim they have done the math and it works. >> what we look at is what the value of

this is a protest at the bank of america. believe that 1000 protesters around the state and the country are at the bank of america's corporate shareholders meeting. organizers are saying that is non-violence. they seem to be standing about blocking the street. some of her playing instruments and the posters here. organizers say that they the bank of america as the worst of the worse as far as and your users live pictures out of charlotte this is outside of the bank of america as shareholders meeting. >>mark: as a possible break in the sierra lamar is case. investigators say that this car has a connection to her disappearance and marched irian there running investigation of the car. sierra omar vanished from her home of two months ago. >>will: the search will start 30 minutes from now purines. that's the table for returned volunteers people a lot of people are returning ernie wheeler is joining is now. he has not missed a day of the search. why is important for you to show up day after day. >> i want to bring closure for the f

facing off with occupiers across the country including from oakland, one of the protesters is over big banks and bank of america to get rid of 2,000 more workers. and my guest has been telling the protesters from the start, start occupying a job. and he offered them a job. how did that go? >>guest: well, we had from our perspective a very successful day when we hell the occupy a desk job festival, we accomplished --. new new you and your from? >>guest: we went out there with ten small companies with job opportunities. the point we were trying to prove, you are complaining of income inequality and complaining of lack of jobs for college students, and we will bring a bunch of jobs right to you, being that you are occupying and you cannot get out there and interview we will bring jobs to the park. the point we wanted to make even when we bring the jobs right to their own kitchen, they scattered, neil, and after --. >>neil: no one was hired? >>guest: no one was hired we had a few other people who came down and they got interviewed and i have not followed up on whether they got hired but the main thing --. >>neil: a