tonight a conversation about america and banking with brian moynihan, the ceo of bank of america. >> we have been in business earliest predecessor to 1784 so we have accumulated all of this to make lives better for people, whether a person starting their first job to you, as affluent cause kawrnl to a small business own tore big business owner to hedge fund manager or trader, our job so help them live their lives an to do it by connecting together all the pieces and that is what makes us unique. it is not we have all of these pieces. the eces are the best in e world, brokerage capabilities to banking capability or investment banking or commercial banking that is what make us unique. >> rose: brian moynihan for the our, that is next, funding for charlie rose was provided by the following. >> rose: additional funding provided by these funders. and by bloomberg, a provider of multimedia news and information services captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> brian moynihan is here, the ceo of bank of america, one to the world

brian moynihan was awarded $12 in base salary, stock awards and other compensation for 2012.he bank says the increase is based partly on the bank's growing profits and progress toward resolving mortgage-related woes. >> and google is testing same-day delivery service. they will be able to buy goods online and get same-day delivery through a google currier service. >> you might be thinking about a warm weather getaway. tip visadvis adviser is out witt islands. number five, maui, number four, anna maria, marco island third, kauahi, and the number one u.s. island, san juan island in washington state, the place president obama just designated as a national monument. y eye on. but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still going to give me a heart attack. we're more than 78,000 people looking out for more than 70 million americans

. >> we had brian moynihan c.e.o. of bank america, and one of the conversations with bankers is too big to fail. is there any sense in the airline industry you can be too big to fail? >> i don't know. we certainly have had a lot of failures in tharily business, irrespective of size. we won't be the largest airline. we're marginally larger than united, marginally larga than dea. th isn talking about creati thethings we e in e baingndusry in terms of scale and size. this is creating a third competitor with two airlines larger than us and giving customers one more choose. >> rose: do you remember the famous letter to stockholders washen buffet wrote? >> i think i do. >> rose: he lost his money, i think, in us airways or didn't do well, as did julian robertson as well, tiger fund. and he basically in the letter said i remember or i've been told that it would have been better if they had shotrvil wright >> for investors. that was his view, yes. it's been a long time since airlines have been profitable and been able to make

. >> rose: brian moynihan, the ceo of bank of america for the hour. thanks for joining us, we will see you next time. captioning sponsored by rose communications captioned by media access group at wgbh access.wgbh.org >> this is "nightly business report" with tyler matheson and susie garenes. >> housing goes boom. the prices rise by the most in nearly seven years and stocks take the good news and run with it. we talk with economist robert schuller about what's next. >> two techs go bust. well, not exactly, but dell and blackberry, former tech titans are in a fight for their lives. can they come back? >> and courtroom drama. the supreme court hears the first of two cases on same-sex marriage. what are the stakes for business? we'll have all that, plus the simplest trading strategy you've ever heard of tonight on "nightly business report." good evening, everyone. tyler, we had a lot of positives today about the stock market and also about the economy. >> and those economic numbers really did drive stock prices higher today. the dow has done it again, cl

. >> rose: brian moynihan, the ceo of bank of america for the hour. thanks for joining us, we will see you next time. captioning sponsored by rose communications captioned by media access group at wgbh access.wgbh.org >>> the followi production was produced in high definition. ♪ ♪ ♪ >>> every single bite needed to be -- >> twinkies are in there! >> wow! >> it's like a great, big hug in the cold city. >> that food is about as spicy as i can handle and my parents put chili powder in my baby food. >> i have french fried bits all over the table. just a lot of ♪ ♪ >> hi, i'm leslie sa sabracco. welcome to "check please bay area" where residents review and talk about their favorite restaurants. we have three guests and each recommends their favorite spot and the other two go check them out to see what they think. this week, gary cobano likes to make a big statement. he has his own cutting-edge style and his own raiewn razor- wit on dining destinations. airline pilot beth graver flies in the face of gravity to land her perfect meal. she's ready to take off a

. >> and in an interview with the "wall street journal" today, bank of america's ceo brian moynihan says the economy would take off if politicians would just solve the sequestration. we won't see any more. it's sort of over and done. >> there's the photo-op that's coming up. this is a photo-op, there's no chance anything is happening. >> this is the leadership showing up at the white house. it's over. >> two or three more weeks for then something to be hashed out. >> yeah. any furloughs would take 30 to 60 days. any real impact on people's lives would take that much time. so the planes are not going fall out of the sky later today because of this. and i think that's the risk to the white house is they cried wolf and nothing big happens. if that's the case, it's a problem for them because then republicans say we could cut a lot more and nobody is going to squawk. >> the stuff that i've read, the seas opened and then one of the actual quotes was actually taken directly from the administration officials. i like this in your paper? do you know her? >> i know her, not very well, but i do. boe

what is interesting about this story, is, the emergence of brian moynihan as a star ceo in the last yearan a lot of em, i have written negative critically about him. i didn't think he was cut out for the job. he kind of fell into it. there was other candidates when ken lewis resigned in 2009 were likely to get it. they couldn't do it for one reason or another, investigations. he has done a pretty good job trimming costs. garden fencing, ringfencing, excuse me those liabilities that involved countrywide. and right now, people are talking about him as the sort of, i don't think, anybody is saying he is better than jamie dimon. he is having a really good run. here is the question is it going to double? a lot of people are saying shares at $12. melissa: double from here? >> over the next year, i hear a lot smart people talking about bank of america going to $24. what is the theory behind this? if you think about it, fed easing, printing money. almost keeps putting money in his pocket and trimming. the fact is they have, if you believe they have the worst behind them in terms of legal liabili

. >> also, bank of america's ceo brian moynihan will reportedly need to hold shares likely worth $1 million for at least a year after he retires. this is a change under a new compensation policy there. the bank instituted that change after investor pressure. the policy requires some other top executives to keep a minimum number of shares of the bank at least until they retire. previously, moynahan only needed to hold the stock in the company. meantime, other top executives did not have a holding period requirement, but, again, interesting change on how things are set up. why don't we take a look at the markets this morning. as we mentioned, futures are sharply higher on news this of this deal in cyprus. this morning, dow is up over 8 on points. s&p futures are up by more than 10 points and the nasdaq is up by just over 17.5 point. oil prices, they're up about 44 cents. almost 0.5% to $94.15. and the ten-year note, again, people were watching very closely what happened to treasuries yesterday. yield at this point at 1.958%, sitting just below 2%. the dollar is a little stronger against the y

. >> wave had folks including brian moynihan and jamie dimon said if we could get a grand bargain not off and markets go higher. a, do you agree with that and, b, do you think we will ever get to a grand bargain? >> i am an optimist and think there is no way to avoid a grand bargain if we are going to solve this long term problem. again, i think the seeds may be have been planted, again, to paraphrase leon. i think everyone in washington and the public, first of all, are pretty disgusted with what's going on in our system. at some point, we will pay the price for this political madness that's gone on the last two years. i think people know it. the signs that you read in the papers today in the last couple of days, the president and number of senate republicans are talking about a bigger deal. i know when i was there two years ago, the president wanted a big deal. we came very close with john boehner getting a big deal. for lots of reasons, everybody's fault, everybody to blame, blah blah blah, we didn't get there. it's a shame we didn't get there and we came a lot closer than people t

set up for next week, do you have any hope that somehow we do get a grand bargain and then as brian moynihaneet journal" last week, we're really off to the races? >> oh, yeah, absolutely. i mean i think honestly the market thinks there's a very small percentage, so any news like we are coming to the, we are going to get some cuts in those long-term entitlements, we are going to avoid any debt ceiling debate. wow, i mean, that's going to add another 500 points right to the market. and really reinforce the bulls, and that could be the melt-up of the economy. >> i just want to get chanos. you there? is jim listening? >> i've been listening. >> can you help with this perma bowl for a second? is there a question here that needs to be asked that may change our view on how bullish we should really be? maybe you are bullish. i heard you a little bit earlier. >> we don't have a view on the market, andrew. i think the market will go up over time. in that case i'm with the professor on his long-term view. in short-term squiggles and moves who knows. >> well certainly the short run it's very dangerous.