brian moynihan, we will start with you. have this challenge of this slightly amorphous thing where people from silicon valley will come in and eat your lunch. do you think the way that is being regulated is correct? as it imposed too many costs on you, and what way do you look at it from the point of view of future finance? >> if you think about the regulation it clearly has not , caught up to the change. but that is natural, because everything is moving very quickly. i come at it and say, what does it really do? of aistributive power smartphone in the hands of a person is so different from anything we have faced in our careers. i think it will take a long time for regulation to fully understand that as it will take a long time for all of us to really understand that. if you look at our customers, we had 19 million computer bankers and the amount of volume on those devices grows at 20% to 30% per year and the amount of customers continues to grow. even though it is a big base. so the ability to talk to and and give with the

anything. >> even jpmorgan, you know, has not outperformed the s&p. >> jamie diamond of speaks and brian moynihanquiet. i'm telling you as a guy who follows the media, moynihan and corbett. i bet your stocks would go higher. >> here's kashkari. 80 years from now we'll look back and say have we done what we should have or just made changes around the market. is dodd/frank enough? >> dodd/frank has made it so that you have this incredible thing. the bankers won't buyny stocks. if you ever see it go down there's no more what's known as principipa principal. >> there's no inventory. the lack of liquidity has been mentioned so many times not just in stocks but bonds but in a lot of different markets. it's a point we should make more often, i think. these banks do not have -- are not making markets they once did. >> and they're not going to have return on equity. but i think michael moynihan. they're going have to listen to me on this whether they like me or not. they won't come on. that's a mistake. look. i've told them. you don't come on, no one believes your book value. you come on, you get question

>>see you tomorrow. ♪ bank of america is giving brian moynihan a pay raise. .5 million for 2015. that includes a $13 million stock base award. moynihan did not get a cash bonus. that's also in contrast to moynihan's pay package. jamie dimon got a 35% raise to $27 million. bank of america was down about 4% in 2015. this year the stock is off nearly 30%, probably not a shock when you look at a lot of the financial stocks. >> very quickly, pfizer will pay 785 million to settle a long running dispute with the government. settlement does not include admission of liability. this occurred before pfizer bought wyeth. i'm speaking very quickly because the show is almost over. >> 15, 14 -- >> thank you for being here. >> i'm here tomorrow, too. we'll see you guys today on power lunch. >> 1:00 to 3:00 eastern. >> right. >> join us tomorrow. right now time for "squawk on the street." ♪ >>> good tuesday morning. welcome to "squawk on the street," i'm carl quintanilla with sara eisen, simon hobbs, david faber at the new york stock exchange. cramer is off. futures higher aft

how far behind is john cryan from brian moynihan in terms of restructuring toward the modern utility it take another year or so for these banks. tom: bring up the chart. i love the idea of charles peabody telling us we can be adult and go one more year, but the fact is the markets are not cooperating with a one-year strategy. charles: we have to keep in mind that not all that is going on on the tape is -- we wrote a series of pieces last year called beware of the margin clerk, and redemptionscipating in a lot of different areas. we saw a redemptions in the etf's, which are heavily weighted. there is a 16% weighting in financials. are vanguard,s black rock, and state street. francine: we are also hearing from the deutsche bank ceo, don crying, saying everything is rocksolid. he is thinking staff. is there anything that ceo's of banks need to do? is there any more disclosure or anything they can be more transparent about so that the markets calm down a little bit? charles: i think it is a path on the capital front. how do you raise the capital internally? that is what deutsche bank was

if you call jamie dimon and say buy back every share, or brian moynihan, he would say if the fed wouldo what i want to do it's additive every time i buy a share. bank of america is a target of the etfs which are going down. >> i wanted to look at yahoo! down almost 3%. the company after the bell reporting earnings not particularly strong, also a new restructuring, cutting 15% of the work force. the board, maynard webb, the chairman, talking about they're looking at strategic alternatives. while they have gotten inquiries about potential purchase of the core business by a number of st companies and private equities, they will now engage. that will not be done by ms. mayer, but by the board and goldman sachs. you have that going on and the pursuit of the core business, which is where their moving, spinning that core business, dealing wi dealing with yahoo! japan, and the key is leaving behind the alibaba stake, which will be considered an investment company. we asked marissa mayer earlier, given all that, where is her focus. >> my focus is on the strategic plan we laid out yesterday. how

. >> bank of america -- brian moynihan has done a great job. he inherited a bad hand.unday around $30 a share, ryan reed took on a tough problem. he had all these mortgage problems inherited from the past. he had the government mad at him and a bit of the populace mad at him. we have the warrants that expire in a few years and i think it's very likely that we exercise th and remain a large shareholder. i think we own 70% of the company or something like that. i think that will happen. >> we'll continue our conversation with warren buffett. when we come back we'll get his advice for tim cook. >>> buffett is a big rail fan, at the owner of burlington northern, what does buffett think of the oil glut. stick around, this special edition of "squawk box" will be right back. at mfs investment management, we believe in the power of active management. by debating our research to find the best investments. by looking at global and local insights to benefit from different points of view. and by consistently breaking apart risk to focus on long-term value. we actively manage with