i essentially this is how he made the comparison to bank of america and the noble work of brian moynihan brother he said i hope we have a joke that we have a full screen. ok well you know he was saying that the deacon and the missionary was in the same field as brian moynihan and their parents must be so proud to have two people they were both involved in a nonprofit under funded organization of course talking about bank of america and wall story come on. this is i think we're finally recognizing i think what happened was schwartzman had a slip up and he he really said what people in the banking community believe which is they have divine right just like the priests you know communicate with god and they're the intermediaries for man on earth bankers are now in a position where you're very have the right of communication with the supreme being and we just need to listen to what they say and do what we're told so who is the supreme being in this situation the federal reserve or lawmakers that bailed them out and buffett who gave bank of america five billion bucks it's anyone who's involve

brian moynihan wants us all to thank him and he is speaking at an employee town hall meeting one hand i like you get a little incensed when you think about how much good all of you do whether it's volunteer hours charitable giving we do serving clients and customers well then referring to people who criticize bank of america went and said don't think a little about that before you start yelling at us let's see bank of america plays a role in crashing the entire world's economy two thousand and eight they gladly take a forty five billion dollar bailout and decide not to lend that money out to people who are trying to refight their homes or small businesses and instead decide to take more money from us for loving a five dollar fee debit cards c.e.o. brian moynihan is right we shouldn't be yelling at bank of america we should be taking our money out of it and breaking up that breaking up. and a very very ugly rush limbaugh yesterday on his radio show limbaugh has made a pretty outrageous yet revealing comment about the obama administration. we got the most incompetent dangerous people ru

brian moynihan is right we should be yelling at bank of america we should be taking our money out of it and breaking up that group because. and the very very ugly rush limbaugh yesterday on his radio show limbaugh has made a pretty outrageous yet revealing comment about the obama administration. we've got the most incompetent dangerous goods people running this country in my lifetime in his lifetime so i guess rush was born after the george w. bush administration was incompetent in defending this nation from the worst terror attack in its history and started to dangerous wars that we're still fighting it was incompetent in handling the financial crisis in two thousand and eight and everything the lead up to it they dangerously politicized the justice department and dangerously leaked the name of a cia agent just naming a few i've always thought limbaugh had the maturity of a child he's now just confirmed manchild rush limbaugh nearly. coming out today officially marks ten years of the you know the watchful eyes of big brother so as a decade of the patriot act helped or hurt our natio

earlier this month, when we cornered bank of america ceo brian moynihan to ask about molly's campaign -- answer a couple of questions for us, sir? he didn't seem to understand the uproar. if you were banking and you had your bank started to charge you a new fee that you didn't have to pay before, how would you feel? >> the fees will start next year and it will be explained to the customers. >> reporter: just yesterday, the b of a ce of told he was incensed by the bad press but won't budge on the new fees. not so at other banks. jpmorgan chase, with 26.5 million checking accounts, is the biggest to listen, saying it will drop its eighth month trial of debit fees next week. other banks like u.s. bank, key bank and citi are holding the line for now. >> what we heard from our clients is a clear voice. tough times for consumers and when they get fees, they feel nickelled and dimed. >> reporter: molly's fight seems to have worked. just moments ago, sources told abc news bank of america is, quote, refining its debit fee program. making it easier to avoid the fees altogether. maybe this time,

street both have something common both their policies kill american jobs and the very very ugly brian moynihan the c.e.o. of bank of america defended his banks decision to screw over its customers by charging a five dollars debit card fee by saying we have a right to make a profit as in we have a right to gouge our customers pockets to please our millionaire. stockholders and c.e.o.'s is the same as b.p. saying they have a right to make a profit by skirting safety regulations or the koch brothers saying they have a right to make a profit by doing business with iran for the profit motive corporations are running roughshod over our common says freeze as much money out of the middle class as they can it's just that simple when they screw up they get tens of billions of dollars in bailout cash like bank of america did back in two thousand and eight in the bay that very same people are screwing over today taxpayers it's a very very ugly. after the break more than two thousand hispanic children are too afraid to go to school in alabama i'll tell you about the new discriminatory law that has minoriti

to new caps on the debit cards with fees that banks charge retailers defending the new fee ceo brian moynihanid customers and shareholders understand that the bank has a right to make a profit he claims the government's wall street reforms will cost as bank billions of dollars. citibank is out with new checking account fees beginning in december the minimum balance for city banks mid-level checking accounts will go up to $15,000.10 who does not maintain that balance will have to pay $20 a month easy checking customer accounts will be charged $15 a month if they don't keep a balance of a minimum $6,000 citibank announced previously that it's raising fees on basic banking accounts from 8 to $10 per month the day's top business stories are next and it's been called a major step in the world of stem cell research and we have details on the use of a cloned human embryo had in the medical watch and later in lunch break we' from the new york stock exchange with your on the money report. the world mourns the loss of steve jobs he simplified the most high-tech of products and revolutionize the technol

we will also hear from brian moynihan and robert rubin. this is just over one hour. >> thank you. this escapes me. this is right in. we have about 50 minutes together. the other official who has been grappling with this was ben bernanke. he said that the recovery is close to a faltering. growth is slower and weaker. it is lower than we hoped. why is that happening? we have a very substantial shop. we have a very dramatic disaster in japan. we have a severe ongoing financial crisis. we have a very divisive debate about whether we should meet the country. we need to wonder whether political system is up to. it is still dealing. it is not surprising growth. the question is, what can we do? contains that damage. there are things we can do here to make growth stronger until the recovery more quickly. you hire someone new. their combined with investments to help trigger the country. if congress were to act on that package, we would make a major difference. if we go to the long-term fiscal position, we would also make a big contribution and demonstrate that the political system is up to

you're upset over bank of america's new $5 monthly fee on debit cards, the latest fr word from ceo brian moynihanitigated rage. he defends the move saying customers and shareholders understand that the company has a right to make a profit. we're talking now about the nation's biggest bank which made billions of dollars in profits last year. the announcement has already sparked heated comments on capitol hill, facebook and a petition with 135,000 signatures. >>> the reverend fred shuttlesworth, a major civil rights leader who survived beatings and bombings has died. the birmingham civil rights institute said shuttlesworth died in that city yesterday. he was 89. he helped martin luther king jr. establish the southern leadership conference in 1957. that same year he was beat within chains and whips while trying to integrate a birmingham public school. the year before his birmingham home was bombed but he and his family were not injured. in a statement, president obama said shuttlesworth was a staple to the strength of the human spirit. >>> his impact and how we live stretched far and wide, steve job

brian moynihan. he will be interviewed from our guest from cnbc. we thank you. larry.you can take this extra moment to go on to amazon and by "a social animal." welcome. please have a seat. welcome. >> i am getting some weird thing in my year. it does not sound good. y ear.e weird thing in mightie it does not sound good. for some reason i am getting static. how is yours? >> i do not have one. [laughter] >> thank you. you are a famous guy, and your bank has become incredibly famous because of $5. i have never seen anything like that. adding $5 a month to a debit card account has caused the most massive political backlash i have ever seen. first, why did you do it endowments greeted why did you do it? >> we started with a basic vision of a company that would be transparent with customers, because as you watch practices over the last 10 or 15 years, there were things people did not like -- overdraft fees, so we started with mortgage and then credit card, and then we went to checking accounts, and then we took the old penalty fees, and we got rid of that, so in doing all o

its ceo brian moynihan defends the new $5 fee on debit cards saying his bank "has a right to make a profit." the fee doesn't kick in until next year giving customers plenty of time to get used to the idea. moynihan says they'll understand. "i have an inherent duty as the ceo after publicly owned company to get a return for my shareholders." >>> now that we know sarah palin isn't going to run for president, what will she do? simple, what she's been doing all along. stay in the public eye and help elect the person who she thinks can beat president obama. she says she can be more effective in that role. the former alaska govern he and long rumored candidate fortd gop nomination says she'll support those who will fight for smaller government, a strong economy and help the private sector create jobs. in yesterday's announcement that she's not going to run, palin said, "my family comes first." >>> a pretty strong earthquake hit extreme northern argentina near its border with chile and bolivia today. seismologists measured it as a 6.2 magnitude quake. the nearest large city is salta, a 87 miles f

this ceo, brian moynihan, is under intense pressure to turn his company around.at turning things around cost you, $5, for using your bank card, he says, i have an inherent duty as a ceo of a publicly owned company to get a return for my shareholders. he says that he is being transparent, that the company is giving their customers vnsed warning as they're required to by law, giving them at least 30 days to know about this new fee and to modify their behavior to try to avoid this fee. don't forget, a lot of people are pointing out, as well, that bank of america is a publicly traded company. credit unions are not. 76% of credit unions will not have fees for checking and do not have fees for atms and debit cards if you use the network of the credit unions. so you do have a choice. you have your choice with your behavior and that's a key point here. but you're right, the response from many people, populist backlash about this fee. they're like, wait, he's suspending the fact that he's charging people to use their own money. hmmm. >> christine romans, thanks. >>> the o

> so bank of america didn't have a comment specifically on your petition, but the bank's ceo, brian moynihan right to make a profit. i mean, bank of america lost money last year. so they have a right to make a profit. they're a private company. they have to make up the money somewhere. when you hear that from mr. moynihan what do you think? >> people have a right to stand up for what they believe in and make things happen. >> you did that. closed your account. where are you taking your business now? >> probably to a credit union. i need to do a little research first, but that's looking liked direction i'm headed in. >> the most interesting part of your story, you're working two jobs. working really hard, but by taking action against bank of america and coming up with this online petition, you discovered a new passion. >> yeah. absolutely. i mean, i've already -- you know, i've always been kind of an activist, and this was just a really exciting, awesome way to kind of channel that energy. >> okay. so if people want to sign your petition, give us your website. >> they go to change.org. a wond

of bank of america, his name is brian moynihan.sn't just me alone, but others have done a little calculation on his $5 monthly fee. and you know what we find out? when they thought that the swipe fee was going to be limited to 12 cents, bank of america said, well, that will cost us $2 billion a year. turns out the federal reserve said, now, it'll be 24 cents. so by our estimates, this new reform of the swipe fee may cost -- may cost bank of america $1 billion a year in revenue. guess what? if you do the calculation, the $5 a month on the number of reported debit cardholders of bank of america, this'll bring back twice as much as their projected loss on this new law. they're overcharge their own customers. once again, twice as much as they should if they just want to cover the hidden fees that they had in the past. that's unfair to consumers. it's unfair to their customers. it's unfair to do it in this tough economy when a lot of bank of america customers across america are struggling to get by. what i'm basically calling on mr. moy