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morgan chase changed the locks seized new owner's property so a kansas city man is taking on banking giant j.p. morgan chase accusing the company of something that he said would have landed anyone else in handcuffs alan danforth bought a house in a short sale and fall of two thousand and ten j.p. morgan chase held the previous owners mortgage down for said two months later without notice the bank changed the locks and hauled away twenty five thousand dollars worth of furniture appliances and family heirlooms. follow up on the blitzkrieg metaphor of high frequency trading in the national socialist party like atmosphere around j.p. morgan what you're describing there i guess historically the analogy would be. kristallnacht where the nazis rolled into town and they started destroying property this is the timeline this is that moment in history where you've got one out of control dictator jamie diamond lloyd blankfein could be the mussolini in this case or just stealing whether it's m.f. global through the banking system or going to people's home stealing their money and doing all manner
morgan chase changed the locks seized new owner's property so a kansas city man is taking on banking giant j.p. morgan chase accusing the company of something that he said would have landed anyone else in handcuffs alan danforth bought a house in a short sale and fall of two thousand and ten j.p. morgan chase held the previous owners mortgage down for said two months later without notice the bank changed the locks and hauled away twenty five thousand dollars worth of furniture appliances and...
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morgan chase lloyd blankfein and jamie diamond type guys steal your stuff but you know you need gold silver are diamonds in your co it's time to start thinking about that because this is the blitzkrieg coming these are the guys taking your stuff and there's nobody there to protect you right so they steal all your stuff and then they'll sell you insurance to prevent protection against them stealing all your stuff it's kind of like j.p. morgan bankrupt the community gomery alabama and then everyone's on the street and then they process all of the machinery behind food stamps so they try to hedge their bets one thing i guess it never learned as to how to hedge his programs the way jamie diamond is now hedging his full cost and now finally for this first half before you go talk to alex shaffer i wanted to say wrap up with guernica is something that very similar happened to pablo picasso that happened to alex shaffer so alex shaffer painted j.p. morgan chase burning and as probably cost has painted guernica and a few years later in nazi occupied paris during world war two picasso suffered
morgan chase lloyd blankfein and jamie diamond type guys steal your stuff but you know you need gold silver are diamonds in your co it's time to start thinking about that because this is the blitzkrieg coming these are the guys taking your stuff and there's nobody there to protect you right so they steal all your stuff and then they'll sell you insurance to prevent protection against them stealing all your stuff it's kind of like j.p. morgan bankrupt the community gomery alabama and then...
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May 16, 2012
05/12
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CURRENT
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morgan chase sharehold meeting a resolution called to separate it. it should have passed in the midst of this rightful upset over dimon's management. 40% voted for it. the company says dimon is the best person for both positions. it simply defies logic. decisions like this mean people who benefit from the current arrangement can keep maintaining the status yeah. dimon doesn't mind being the one to evaluate his own job like he doesn't mind sitting on the board that sets the rules for his own bank. look separating the chairman/ceo positions won't change the world of corporate governance. this illustrates an amazing blindspot in our corporate culture. dimon and others won't fix this simple conflict of interest. what a cloisterred world they live in. separating would show they see the problem and a a a a a a a a a a a a a a a a a a a a a a a a a a [ mocking tone ] i'm ms. brown. i'm soooo chocolatey. i'm giving away money to make people like me-eee -- is what he said. and i was like "you watch your mouth. she's my friend." friend is a strong word. [ male
morgan chase sharehold meeting a resolution called to separate it. it should have passed in the midst of this rightful upset over dimon's management. 40% voted for it. the company says dimon is the best person for both positions. it simply defies logic. decisions like this mean people who benefit from the current arrangement can keep maintaining the status yeah. dimon doesn't mind being the one to evaluate his own job like he doesn't mind sitting on the board that sets the rules for his own...
SFGTV: San Francisco Government Television
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May 22, 2012
05/12
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another chase is planned for 14th and valencia. there are already branches on 15th and market, 8th and market, 21 and mission, 25th and mission. chase has publicly stated they're commitment is to customers who make over $100,000. yet they have four branches concentrated in the low-to-middle income area ors amy just mentioned, an area quickly again traa phiing. this exemplifies the side effects of unchecked use of retail space by financial services. how is it chase can come into our city and, frankly, do whatever they want with little resident feedback? on the weekend, i love to walk from haight to a locally owned coffee shop on 15th and valencia. next door flipped owns a clothing store where she sells clothing that she designed and made herself. this valencia corridor draws tourists. a former student of mine in new york city said his favorite moment in the city was the uniqueness of valencia. another chase bank on this corner will undoubtedly change the feel of the neighborhood. as it is changing others. it's a great boon to the ci
another chase is planned for 14th and valencia. there are already branches on 15th and market, 8th and market, 21 and mission, 25th and mission. chase has publicly stated they're commitment is to customers who make over $100,000. yet they have four branches concentrated in the low-to-middle income area ors amy just mentioned, an area quickly again traa phiing. this exemplifies the side effects of unchecked use of retail space by financial services. how is it chase can come into our city and,...
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May 12, 2012
05/12
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CURRENT
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my first response when i saw the headlines for the morgan chase was so soon.hought they would wait for a year before going back to this type of behavior. are we wrong to be shocked by the speed they've dove right back into this sort of stuff. >> it's not wrong to be shocked by it. we have the biggest bank in the united states by assets. it's led by someone who has been the champion of deregulation, the warhorse saying don't regulate. don't overregulate and who has been trying--jp morgan chase and jamie dimon have been in the lead of trying to water down the vocal rule which was designed to stop these kinds of things. to prevent these trades that are too speculative too excessive and not prudent and certainly would effect commercial democracy and it happened within living memory. you know, we all suffer from a certain memory loss and a short-term time horizon but it's hard to hide from the fact that this is just a few years ago. this whole thing--these kinds of errors, these kinds of sloppiness, these kinds of excessive risk, these kinds of bizarre new instrume
my first response when i saw the headlines for the morgan chase was so soon.hought they would wait for a year before going back to this type of behavior. are we wrong to be shocked by the speed they've dove right back into this sort of stuff. >> it's not wrong to be shocked by it. we have the biggest bank in the united states by assets. it's led by someone who has been the champion of deregulation, the warhorse saying don't regulate. don't overregulate and who has been trying--jp morgan...
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May 14, 2012
05/12
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three top executives at jpmorgan chase are expected to pay the price for their costly mistake. >>> same-sex politics. the hot button issue takes over the pulpits and air waves. >>> a janitor who fled the killing fields of yugoslavia fulfills a lifelong dream and gets his college degree. >>> this is the "cbs morning news" for monday, may 14, 2012. >>> good morning. thanks for joining us. >>> heads are expected to roll at jpmorgan chase over its $2 billion trading blunder. one of the highest ranking women on wall street is expected to step down along with at least two others. there are renewed calls for tougher financial regulations. susan mcginnis is in washington with the latest. good morning. >> reporter: good morning. this revelation shocked the financial world and washington. the concern is this kind of speculative trading by jpmorgan goes on more widely than thought and om in congress are calling for stricter bank regulation. three top executives at jpmorgan chase, including the chief investment officer, could step down as soon as today in the wake of the bank's $2 billion trading loss.
three top executives at jpmorgan chase are expected to pay the price for their costly mistake. >>> same-sex politics. the hot button issue takes over the pulpits and air waves. >>> a janitor who fled the killing fields of yugoslavia fulfills a lifelong dream and gets his college degree. >>> this is the "cbs morning news" for monday, may 14, 2012. >>> good morning. thanks for joining us. >>> heads are expected to roll at jpmorgan chase over...
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May 6, 2012
05/12
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now they're going to a chase behavior because the car is now a toy.y're playing the car. >> believe it or not the dash cam video lasts for almost an hour. >> now he's trying to chew his tire as he drives off. >> look at his tail. it's up and he's having a great time on the police car, taxpayer money. he doesn't know that. he's just having a good time. see look at this guy right here. >> they try to catch it on foot but winston remains steadfast so what would the dog whisperer do? >> i stop the car and i put a leash on the dog or i redirect him with food. stop it. ask him to lay down in front of the bumper. you know, so he learns to relax in front of the bumper. >> finally, the animal center arrives and takes winston away. then his owner comes to pick him up. >> we're glad that he's getting to come home and get back to his old life. free of all the excitement. >> but winston isn't off the hook yet. charged with being a potentially dangerous dog winston is ordered to attend both obedience school and a canine good citizen class. in september 2010 he grad
now they're going to a chase behavior because the car is now a toy.y're playing the car. >> believe it or not the dash cam video lasts for almost an hour. >> now he's trying to chew his tire as he drives off. >> look at his tail. it's up and he's having a great time on the police car, taxpayer money. he doesn't know that. he's just having a good time. see look at this guy right here. >> they try to catch it on foot but winston remains steadfast so what would the dog...
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May 11, 2012
05/12
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morgan chase. >> reporter: the losses for j.p. morgan chase continued today, this time to its stock price which tumbled more than 9%. as the bank reeld from its $2 billion trading blunder and bank analysts took aim at c.e.o. jamie dimon. >> he should have done his home work better. >> reporter: mike mayo, who closely watches the company for the investment firm c.l.s.a. says in april dimon dismissed concerns the bank was making big bets on credit derivatives that even then were rattling the markets. >> one month ago jamie dimon gave a reassurance that this was "a tempest in a teapot" when it came to the company's investments. here one one month later and there's a $2 billion loss on their books. >> reporter: the risky bets were placed out of the bank's london office by a trader named bruno ixill, nicknamed the london whale but he was not a rogue and critics say that raises serious questions about risk management at america's biggest bank. michael houston is an analyst with the london investment firm c.m.c. markets. >> the "too big
morgan chase. >> reporter: the losses for j.p. morgan chase continued today, this time to its stock price which tumbled more than 9%. as the bank reeld from its $2 billion trading blunder and bank analysts took aim at c.e.o. jamie dimon. >> he should have done his home work better. >> reporter: mike mayo, who closely watches the company for the investment firm c.l.s.a. says in april dimon dismissed concerns the bank was making big bets on credit derivatives that even then were...
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May 17, 2012
05/12
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KTVU
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and dogs love to chase things.tionary speaking, they were designed to be chasers. >>> how much will this thing set you back if you want to get it? >> it will set you back about $300. but, they're running a special promotion, you can get $25 off if you order before july 1st. look at the relaxation time you can get while your dog gets exercise. that's our show, we're so glad you joined us, have a great rest of your day. ♪
and dogs love to chase things.tionary speaking, they were designed to be chasers. >>> how much will this thing set you back if you want to get it? >> it will set you back about $300. but, they're running a special promotion, you can get $25 off if you order before july 1st. look at the relaxation time you can get while your dog gets exercise. that's our show, we're so glad you joined us, have a great rest of your day. ♪
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May 14, 2012
05/12
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deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. >>> if nb has its way, you can expect to laugh a lot. new comedies starring familiar faces, mark barger has a sneak peek. >> are you serious? >> reporter: former friends star matthew perry is returning to nbc. his new comedy, go on, about a wise cracking sports caster coping with loss is one of six new series the network is launching this fall. >> he's a big star, great actor. not only a comic actor but great actor. >> reporter: following perry on tuesdays will be the new normal from glee creator ryan murphy, about a gay couple who enlists the help of a surrogate. >> all i could think is family is a family and love is love. >> reporter: family audiences are the target for two wednesday comedies, guys with kids and animal practice starring justin kirk who enjoys dealing with pets more than their owners. >> all human characters are great but the animals kind of kick it up another notch. >> reporter: nbc
deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. >>> if nb has its way, you can expect to laugh a lot. new comedies starring familiar faces, mark barger has a sneak peek. >> are you serious? >> reporter: former friends star matthew perry is returning to nbc. his new comedy, go on, about a wise cracking sports caster coping with loss is one of six new series the network is...
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May 14, 2012
05/12
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CNN
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let's get started. >> up first this morning, pain at jp morgan chase.iant will accept the resignation of ina drew as early as today. she's one of the highest ranking women on wall street. pulling down a salary of over $15 million a year. the entire staff of the company's london chief investment office could also be dismissed. more fallout from the investment firm's staggering $2 billion loss stemming from the risky trades. the so-called proprietary trades are what took down aig during the financial crisis. jamie dimon doing damage control on sunday's talk shows. >> this is a stupid thing we should never have done but we're still going to earn a lot of money this quarter. it isn't like the company is jeopardized. we hurt ourselves and credibility, yes, that we have to fully expect and pay the price for that. >> and christine romans is with us this morning. and burning question at least for me is why should i care? >> you should care because, look, three years after the financial crisis the very kinds of things, credit default swaps and risky hedge -- is
let's get started. >> up first this morning, pain at jp morgan chase.iant will accept the resignation of ina drew as early as today. she's one of the highest ranking women on wall street. pulling down a salary of over $15 million a year. the entire staff of the company's london chief investment office could also be dismissed. more fallout from the investment firm's staggering $2 billion loss stemming from the risky trades. the so-called proprietary trades are what took down aig during the...
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May 14, 2012
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morgan chase-- continued to fall today. it has lost $19 billion in value since friday, more than 12% of its total worth. late last week, the bank shocked investors with a $2 billion loss in its trading department. j.p. morgan chase had made enormous bet on what are known as derivatives, an exotic wall street investment that was at the heart of the financial collapse in 2008. by this morning, a top executive was out and anthony mason picks up the story from there. >> reporter: the first casualty of the bank's $2 billion blunder was its chief investment officer anna drew, a 30-year veteran of j.p. morgan chase and one of the highest ranking women on wall street resigned this morning. she oversaw the division responsible for the $2 billion loss. the bank stock tumbled another 3% today and c.e.o. jamie dimon has been rushing to do damage control. >> in hindsight we took far too much risk, the strategy we had was badly vetted, it was badly monitored, it should should never have happened. >> reporter: but the bad trades are still
morgan chase-- continued to fall today. it has lost $19 billion in value since friday, more than 12% of its total worth. late last week, the bank shocked investors with a $2 billion loss in its trading department. j.p. morgan chase had made enormous bet on what are known as derivatives, an exotic wall street investment that was at the heart of the financial collapse in 2008. by this morning, a top executive was out and anthony mason picks up the story from there. >> reporter: the first...
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May 15, 2012
05/12
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danielle nottingham has more. >> reporter: jpmorgan chase' c.e.o. jamie dimon faced shareholders in tampa following the bank's $2 million loss in bad trade. >> the bottom line is how up fortunate this is we always do what we -- fort this s we want to did what we always do. admit our mistakes. >> reporter: appearing on "the view" president obama says this is why wall street needs tighter regulations. >> jpmorgan is one of the best managed banks there is. jamie dimon the head of it is one of the smartest bankers we have and they still lost $2 billion. >> reporter: congress passed reform known as dodd-frank two years ago but much of it has yet to take effect. >> i could care less if a person buys a losing ticket at the kentucky derby but when the folks at chase decide to invest money, they are gambling with taxpayer insured money. >> reporter: one part of the 2010 financial reform bill is called the vockler rule. it's supposed to limit certain large speculative investments but it doesn't kick in until july. it's not yet known whether the rule would hav
danielle nottingham has more. >> reporter: jpmorgan chase' c.e.o. jamie dimon faced shareholders in tampa following the bank's $2 million loss in bad trade. >> the bottom line is how up fortunate this is we always do what we -- fort this s we want to did what we always do. admit our mistakes. >> reporter: appearing on "the view" president obama says this is why wall street needs tighter regulations. >> jpmorgan is one of the best managed banks there is. jamie...
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May 11, 2012
05/12
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KPIX
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morgan chase.there is so much exposure they're trying to unwind all of them but we could see other financial units also getting hit hard. it has had an impact on wall street but not as bad as you may expect. financial sector is getting hit pretty hard to afford to let we got a surprising rise in consumer sentiment. the highest level in four years. the dow lower by just 15 points. nasdaq up by nine. s&p down one. g tim ega j.p. morgan chase this is the story that is not going to end anytime soon. back to you guys. >> thank you. >> now to campaign 2012, the president in reno nevada right now at this hour discussing more is released. let's listen into the president ... >> i will take her word for it that she is a pretty good cop. a piece they have lived in this house for 14 years. she works your by helping secure loans for farmers and ranchers. paul is a retired electrical contractor who started a family business with her son. last year, with mortgage rates at historic lows, the keller's decided credi
morgan chase.there is so much exposure they're trying to unwind all of them but we could see other financial units also getting hit hard. it has had an impact on wall street but not as bad as you may expect. financial sector is getting hit pretty hard to afford to let we got a surprising rise in consumer sentiment. the highest level in four years. the dow lower by just 15 points. nasdaq up by nine. s&p down one. g tim ega j.p. morgan chase this is the story that is not going to end anytime...
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May 31, 2012
05/12
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the chase family this summer.ie johnson, abc2 news. >>> an update on the deadly shooting in seattle. the man who police suspected opened fire on a cafe and then killed a woman in an apparent carjacking has died. officers say that suspect shot himself. one of the two men they were wounded in that cafe shooting also died wednesday night. bringing the number of victims to five. one victim remains in the hospital this morning in critical condition at this point police have no motive for either attack. >>> all new this morning one of the baltimore county officers convictioned in the kickback scheme has been sentenced. officer rodney sentron will pay 42 month -- spend 42 months in prison and pay $40,000 in fines. in return for pushing customers their way. >>> today family and friends will gather to remember a student killed in ocean city. 22-year-old matthew cheswick was hit and killed by a suspected drunk driver on maryland in ocean city on memorial day. the viewing hours will be from 2:00 too 4:00 then from 6:00 to 8:
the chase family this summer.ie johnson, abc2 news. >>> an update on the deadly shooting in seattle. the man who police suspected opened fire on a cafe and then killed a woman in an apparent carjacking has died. officers say that suspect shot himself. one of the two men they were wounded in that cafe shooting also died wednesday night. bringing the number of victims to five. one victim remains in the hospital this morning in critical condition at this point police have no motive for...
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May 15, 2012
05/12
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CNN
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it's jap morgan chase who is to blame.prevent every bad thing that could happen. there are no guarantees in life. keep the conversation going. facebook.com/carolcnn and thanks for your comments. i'm carol costello. thank you for joining me. >> i'm kyra phillips. it's 11:00 on the east coast, 8:00 out west. we b w
it's jap morgan chase who is to blame.prevent every bad thing that could happen. there are no guarantees in life. keep the conversation going. facebook.com/carolcnn and thanks for your comments. i'm carol costello. thank you for joining me. >> i'm kyra phillips. it's 11:00 on the east coast, 8:00 out west. we b w
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May 23, 2012
05/12
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CSPAN3
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again, we don't regulate jpmorgan chase as a swap dealer yet. but we could reg late the clearing houses, and anti-fraud and anti-manipulation. >> did the cftc really know what was going on on such a large position that jpmorgan had taken here? >> well -- >> were you in the dark or did you know what was going on? you said you learned about -- >> it's in transition to speak about this. our oversight of the clearing houses give us a lot of window into the clearing houses which i think has 27 members in it, and the risks in that clearing house. the margin there. that's not the full jpmorgan picture, of course, they have a lot of swaps that aren't clear. our principle regulatory. in terms of the bank, we don't have any oversight there. >> you really didn't know what kwos going on or the problem with the trade until you read the press reports like all of us? >> well, i had -- that's what i've said, yes, sir. >> yes. >> chairman shapiro, i pose the same question to you. where was the sec here? did they know what was going on and if not, why not? >> the
again, we don't regulate jpmorgan chase as a swap dealer yet. but we could reg late the clearing houses, and anti-fraud and anti-manipulation. >> did the cftc really know what was going on on such a large position that jpmorgan had taken here? >> well -- >> were you in the dark or did you know what was going on? you said you learned about -- >> it's in transition to speak about this. our oversight of the clearing houses give us a lot of window into the clearing houses...
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May 29, 2012
05/12
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CURRENT
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. >> eliot: jp morgan chase loses $2 billion on a single trade. it would appear something is innovation matters now more than ever. >> eliot: citigroup shareholders took a stand against ex-sore by tonight scenetation. plus jp morgan made a big bet and loss. it's go time. >>every weeknight cenk uygur calls out the mainstream media. >>the guys in the middle class the guys in the lower end got screwed again. >>i think you know which one we're talking about. the overwhelming majority of the country says"tax the rich, don't go to war." >>just wanted to clarify that. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ [ male announcer ] the jeep grand cherokee has won more than just respect. ♪ ♪ as a culinary manager i make sure our guests have an over the top experience. being hands on is key! i make sure every plate looks just right. [ male announcer ] don't miss red lobster's four course seafood feast, just $14.99. start with soup, salad and unlimited cheddar bay biscuits followed by your choice of one of 7 entrees. like new coconut and pineapple shrimp or shrimp and scallops alfredo.
. >> eliot: jp morgan chase loses $2 billion on a single trade. it would appear something is innovation matters now more than ever. >> eliot: citigroup shareholders took a stand against ex-sore by tonight scenetation. plus jp morgan made a big bet and loss. it's go time. >>every weeknight cenk uygur calls out the mainstream media. >>the guys in the middle class the guys in the lower end got screwed again. >>i think you know which one we're talking about. the...
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May 17, 2012
05/12
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WMAR
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and dogs love to chase things. evolutionary speaking, they were designed to be chasers. >>> how much will this thing set you back if you want to get it? >> it will set you back about $300. but, they're running a special promotion, you can get $25 off if you order before july 1st. look at the relaxation time you can get while your dog gets exercise. that's our show, we're so glad you joined us, have a great rest of your day. ♪ . >>> now,abc 2news. >> have you probably taking them to treat ear infections, news tonight the popular medication could put you çkat risk. results. >> right to free Ñ-speech but not to use it with company e- mail. >> and more problems for the police department after an officer circulated a racist e- mail. >>> and some two baltimore neighborhoods are fired up after opening up the water bill. what is behind the price hike and what the city plans to do about it. >>> first we have disturbing news about a common medication you have probably taken. a new study says the zpacks could have pretty dang
and dogs love to chase things. evolutionary speaking, they were designed to be chasers. >>> how much will this thing set you back if you want to get it? >> it will set you back about $300. but, they're running a special promotion, you can get $25 off if you order before july 1st. look at the relaxation time you can get while your dog gets exercise. that's our show, we're so glad you joined us, have a great rest of your day. ♪ . >>> now,abc 2news. >> have you...
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May 15, 2012
05/12
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CNNW
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we are to blame for the jpmorgan chase fiasco.e knew the way they handled investments and yet they flock to invest with jpmorgan. when are people going to learn? we deserve what he get. from earl, just because there are not rules and regulations to stop someone from doing something doesn't make the rule regulators the one at fault. the people at jpmorgan that approved the transactions are to blame. put the blame where the blame belongs. this from gary, greedy wealthy bankers are to blame. no matter how rich they are, it's never rich enough and they're sure we'll bail them out again. from mark, the representatives in congress are so blame. this is the reason i don't have a 401(k). i got sick and tired of wall street stealing my money. keep the conversation going. facebook.com/carolcnn. >>> it was not a peace of night for metta world peace. jeff fischel is here. at least he's back. >> he's back and sor the bitter feelings between the lakers and the oklahoma city thunder. they met for the first time since he gave that elbow to james
we are to blame for the jpmorgan chase fiasco.e knew the way they handled investments and yet they flock to invest with jpmorgan. when are people going to learn? we deserve what he get. from earl, just because there are not rules and regulations to stop someone from doing something doesn't make the rule regulators the one at fault. the people at jpmorgan that approved the transactions are to blame. put the blame where the blame belongs. this from gary, greedy wealthy bankers are to blame. no...
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May 14, 2012
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morgan chase?ast week, the nation's largest bank disclosed they ran over $2 billion in losses over six weeks. c.e.o. jamie dimon was blunt. >> made a terrible egregious mistake. >> we took far too much rent, the strategy we had was vetted, monitored, it should never have happened. >> financial stocks took a beating on wall street friday when j.p. morgan chase leading the way down. >> this is just a few -- trying to regain the investment public's trust. >> for many, the painful reminder of the bad ole days of the 2008 banking crisis. a huge reversal coming at a time when the frnls industry is trying to loosen regulations on trading. >> they made bets and couldn't pay for it. we said no, you can't get yourself in that position. >> one top lawmaker said the j.p. morgan chase debacle doomed efforts for loosen regulation. >> the price will be they will lose their battle in wa to weaken the rule. >> still some are skeptical. >> the banks have always figured out how to circumnavigate the rules. >> j.p. mo
morgan chase?ast week, the nation's largest bank disclosed they ran over $2 billion in losses over six weeks. c.e.o. jamie dimon was blunt. >> made a terrible egregious mistake. >> we took far too much rent, the strategy we had was vetted, monitored, it should never have happened. >> financial stocks took a beating on wall street friday when j.p. morgan chase leading the way down. >> this is just a few -- trying to regain the investment public's trust. >> for many,...
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May 14, 2012
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three top executives at jpmorgan chase are expected to pay the price for their costly mistake. >>> same-sex politics. the hot button issue takes over the pulpits and air waves. >>> sxh and dedicated to knowledge. a janitor who fled the killing fields of yugoslavia fulfills a lifelong dream and gets his college degree. >>> this is the "cbs morning news" for monday, may 14, 2012. >>> good morning. thanks for joining us. i'm manuel gallegus. >>> heads are expected to roll at jpmorgan chase over its $2 billion trading blunder. one of the highest ranking women on wall street is expected to step down along with at least two others. there are renewed calls for tougher financial regulations. susan mcginnis is in washington with the latest. good morning. >> reporter: good morning.
three top executives at jpmorgan chase are expected to pay the price for their costly mistake. >>> same-sex politics. the hot button issue takes over the pulpits and air waves. >>> sxh and dedicated to knowledge. a janitor who fled the killing fields of yugoslavia fulfills a lifelong dream and gets his college degree. >>> this is the "cbs morning news" for monday, may 14, 2012. >>> good morning. thanks for joining us. i'm manuel gallegus....
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May 19, 2012
05/12
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KRON
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May 12, 2012
05/12
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KPIX
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ses fo chase. >> reporter: the losses for j.p. morgan chase continued today, this time to its stock price, which tumbled more than 9%, as the bank reeled from its $2 billion trading blunder, and bank analysts took aim at c.e.o. jamie dimon. >> he should have done his homework better. >> reporter: mike mayo, who closely watches the company for the investment firm c.l.s.a., says in april dimon dismissed concerns the bank was making big eets on credit derivatives that even then were rattling the markets. >> one month ago, jamie dimon o ve a reassurance that this was "a tempest in a teapot" when it came to the company's investments. here we are one month later, and there's a $2 billion loss on their books. of reporter: those risky bets
ses fo chase. >> reporter: the losses for j.p. morgan chase continued today, this time to its stock price, which tumbled more than 9%, as the bank reeled from its $2 billion trading blunder, and bank analysts took aim at c.e.o. jamie dimon. >> he should have done his homework better. >> reporter: mike mayo, who closely watches the company for the investment firm c.l.s.a., says in april dimon dismissed concerns the bank was making big eets on credit derivatives that even then...
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May 14, 2012
05/12
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. >> three come executives out at jp morgan chase after its embarrassing $2 billion loss. has wall street finally learned its lesson? >>> and will he testify? john edwards defense begins today. will he take the stand? >>> survivor stories. the only person to walk away from a small plane crash. >>> and heads up. one new jersey town cracks down on texting and walking. >>> good monday morning, everyone. i'm rob nelson. >> and i'm diana perez, paula faris is on assignment. we begin with the fallout from the mass i have loss suffered by jp morgan chase. >> at least three high-ranking executives are being shown the door. tahman bradley has more on that from washington. >> reporter: the jp morgan chase ceo says the losses do not pose a threat to the bank. many americans are concerned wall street did not learn its lesson from the financial crisis a few years ago, which has many investors very concerned. misery might be felt across wall street today amid rory about the nation's biggest bank, jp morgan chase. they're trying to rebound from losing $2 billion in six weeks due to risky
. >> three come executives out at jp morgan chase after its embarrassing $2 billion loss. has wall street finally learned its lesson? >>> and will he testify? john edwards defense begins today. will he take the stand? >>> survivor stories. the only person to walk away from a small plane crash. >>> and heads up. one new jersey town cracks down on texting and walking. >>> good monday morning, everyone. i'm rob nelson. >> and i'm diana perez, paula...
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May 24, 2012
05/12
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morgan chase. our best information is that the trading activities in question took place in the bank in london and perhaps in other affiliates but not in the broker-dealer directly supervised by the sec. although the commission does not discuss investigations publicly, i can say that in circumstances of this nature where the activity does not appear to have occurred in one of our regulated entities the sec would be interested in and focused on the appropriateness and completeness of the entity's financial reporting and other public disclosures. in conclusion, as we continue to implement title 7, we look forward to continuing to work closely with congress, our fellow regulators at home and abroad and members of the public. thank you for the opportunity to share our progress on the implementation of title 7 and i will of course be happy to answer any questions. >> thank you. chairman gensler, please begin your testimony. >> good morning, chairman johnson, ranking member shelby and members of this com
morgan chase. our best information is that the trading activities in question took place in the bank in london and perhaps in other affiliates but not in the broker-dealer directly supervised by the sec. although the commission does not discuss investigations publicly, i can say that in circumstances of this nature where the activity does not appear to have occurred in one of our regulated entities the sec would be interested in and focused on the appropriateness and completeness of the...
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May 15, 2012
05/12
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steve, if you could help us with the jpmorgan chase details. jamie dimon will meet with shareholders today. what should we expect and what's the larger impact of this story? >> it's an amazing story, one we've been following, we've been speaking to the journalists who first uncovered this over a month ago. the 10th of april, which incidentally was three days before jpmorgan reported their quarterly figures, this story broke in the "wall street journal." and the fact remains there are all kinds of ramifications politicians will be looking at positions of the banks on wall street, the regulators will be saying, are you playing with the rules here, the volcker rule, there are real concerns at jpmorgan as well that the position itself, that created the problem, is still open. so they talk about a $2 billion loss. it could be $1 billion, $2 billion, $3 billion. we just don't know. when they can crystallize the loss on this open position. the other side of the trade is the hedge funds, they're not necessarily going to let jpmorgan out of this one. >>
steve, if you could help us with the jpmorgan chase details. jamie dimon will meet with shareholders today. what should we expect and what's the larger impact of this story? >> it's an amazing story, one we've been following, we've been speaking to the journalists who first uncovered this over a month ago. the 10th of april, which incidentally was three days before jpmorgan reported their quarterly figures, this story broke in the "wall street journal." and the fact remains...
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May 14, 2012
05/12
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morgan chase reported the loss last week, sending the stock market into a tail spin. the head of the bank called the loss stupid and sloppy but insisted morgan chase would make a lot of money this corner. >> alan: california's projected $16 billion budget deficit shows the need to put the breaks on spending, but that's not what governor brown has in mind. he has a plan that relies heavily on taxes. >> ama: religious leaders and former san francisco mayor gavin newsom are weighing in on the president's support of same-sex marriage. >> reporter: after president obama's historic endorsement of same-sex marriage, some bayar clergy are saying it may be time to take a second look at the issue. >> reverend brown is preaching a sermon of tolerance. >> there are people in thissation who happen to be gay or lesbian, and they deserve to have equal protect under the law. >> it is important for me to go ahead and affirm that i think same-sex couples should be able too get married. >> that historic endorsement by president obama pushed the subject of same-sex marriage back into the
morgan chase reported the loss last week, sending the stock market into a tail spin. the head of the bank called the loss stupid and sloppy but insisted morgan chase would make a lot of money this corner. >> alan: california's projected $16 billion budget deficit shows the need to put the breaks on spending, but that's not what governor brown has in mind. he has a plan that relies heavily on taxes. >> ama: religious leaders and former san francisco mayor gavin newsom are weighing in...
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May 15, 2012
05/12
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and the ceo of jpmorgan chase, jamie dimon, will face angry shareholders in florida.ected to apoll jaz for his company's $2 billion investment blunder. >>> a scary school bus accident in southern illinois injured at least 11 sixth graders and the bus driver, but looking at the wrecked bus, it's amazing that none of the 34 people onboard was killed when it collided with a tractor trailer rig yesterday. >>> police in northern mississippi are warning people to take precautions after two people died in highway shootings in the past week. the similar shootings happened three days apart. both vehicles had pulled to the side of the road, leading investigators to suspect the killer may be posing as a police officer. >>> the first tropical storm of the season has formed off the coast of mexico. tropical storm aletta is centered about 60 miles off mexico's southwest coast and is not currently a threat to land. >>> a washington state man is recovering after a run-in with a rattlesnake at a walmart store. 47-year-old michael cray was in the outdoor garden center when he benlts do
and the ceo of jpmorgan chase, jamie dimon, will face angry shareholders in florida.ected to apoll jaz for his company's $2 billion investment blunder. >>> a scary school bus accident in southern illinois injured at least 11 sixth graders and the bus driver, but looking at the wrecked bus, it's amazing that none of the 34 people onboard was killed when it collided with a tractor trailer rig yesterday. >>> police in northern mississippi are warning people to take precautions...
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May 13, 2012
05/12
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morgan chase is doing to hire returning veterans after more than a decade at war after this. but until you're in the thick of it... anyway the guys in my unit who'd been here before, told me just ride it out, keep my head down and remember the reason i'm here. and we're paying for it all with my cashrewards card from navy federal. we're earning cash back! bring it. brought it. brung. 4 million members. 4 million stories. navy federal credit union. [ male announcer ] for our families... our neighbors... and our communities... america's beverage companies have created a wide range of new choices. developing smaller portion sizes and more low- & no-calorie beverages... adding clear calorie labels so you know exactly what you're choosing... and in schools, replacing full-calorie soft drinks with lower-calorie options. with more choices and fewer calories, america's beverage companies are delivering. and enjoying it less and less? stop paying for second best. upgrade to verizon fios tv, internet and phone for just $89.99 a month guaranteed for two years with a two-year agreement.
morgan chase is doing to hire returning veterans after more than a decade at war after this. but until you're in the thick of it... anyway the guys in my unit who'd been here before, told me just ride it out, keep my head down and remember the reason i'm here. and we're paying for it all with my cashrewards card from navy federal. we're earning cash back! bring it. brought it. brung. 4 million members. 4 million stories. navy federal credit union. [ male announcer ] for our families... our...
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May 14, 2012
05/12
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winick. >> reporter: what's next for jpmorgan chase? last week, the nation's largest bank disclosed it had run up $2 billion in losses over just six weeks. ceo jamie dimon was blunt. >> we made a terrible, egregious mistake. almost no excuse for it. >> reporter: as for how it happened? >> we took far too much risk. the strategy was badly vetted, badly machine tored. it should never have happened. >> reporter: financial stocks took a beating on wall street friday with jpmorgan chase leading the way down. >> this is just a huge throwback to the two years of trying to regain the investment public's trust. >> reporter: for many, it's a painful reminder of the battle days of the 2008 banking crisis. the huge reversal comes at a time when the financial industry is seeking to loosen regulations on trading. >> entities like jpmorgan chase made bets on derivatives and couldn't pay for it. we now have rules that say, no you can't get yourself in that position. >> reporter: one top lawmaker says the jpmorgan chase debacle dooms efforts to change r
winick. >> reporter: what's next for jpmorgan chase? last week, the nation's largest bank disclosed it had run up $2 billion in losses over just six weeks. ceo jamie dimon was blunt. >> we made a terrible, egregious mistake. almost no excuse for it. >> reporter: as for how it happened? >> we took far too much risk. the strategy was badly vetted, badly machine tored. it should never have happened. >> reporter: financial stocks took a beating on wall street friday...
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morgan chase announced a surprise two billion dollars trading loss and credit derivatives trading with the chief executive jamie dimon blamed on quote errors sloppiness and bad judgment and warned could get worse stuff we're going to get worse they say because the blood is in the water people understanding that this is the limit of our day of this year the enron of this year they have got tens of trillions of dollars worth of liabilities on their balance sheet they they try to pass that off on the fed's balance sheet but then the fed is saying you know when we have an only so much toxic debt that we can absorb from these both good buzz down there j.p. morgan and those drones are going to start selling this thing make it short killing it obliterating it can't wait to see the stock of zero and hedge fund out there make an easy money short this puppy to zero max a few things there first of all regarding jamie diamond's comment he said it was errors sloppiness and bad. sprint which it already seems like he's setting up the chorus line defense here it's chaos in the back office so we're jus
morgan chase announced a surprise two billion dollars trading loss and credit derivatives trading with the chief executive jamie dimon blamed on quote errors sloppiness and bad judgment and warned could get worse stuff we're going to get worse they say because the blood is in the water people understanding that this is the limit of our day of this year the enron of this year they have got tens of trillions of dollars worth of liabilities on their balance sheet they they try to pass that off on...
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May 11, 2012
05/12
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how could jpmorgan chase miss this one? what does it mean for the industry's fight against bank regulation? >> across the pond, trading teches with prime minister. rupert murdoch testifies about her close ties with downing street. >> occasionally he would sign them off "lol," lots of love. actually until i told him it meant "laugh out loud." >> just because we are still laughing, take two of that weather report from scotland. >> there will be snow for the higher ground of the highlands. the potential for a few flurries over balmoral. who the hell wrote this script? >> and good day, i'm andrea mitchell live in washington. in our daily fix, mitt romney is set to speak moments from now in charlotte, north carolina, where he'll do his best to shift the focus back to the economy. he'll do it in the state which this week became the 30th to approve a constitutional ban on same-sex unions. it's also where the democratic convention is. the politics of gay marriage have overshadows president obama's campaign kick-off this week. promp
how could jpmorgan chase miss this one? what does it mean for the industry's fight against bank regulation? >> across the pond, trading teches with prime minister. rupert murdoch testifies about her close ties with downing street. >> occasionally he would sign them off "lol," lots of love. actually until i told him it meant "laugh out loud." >> just because we are still laughing, take two of that weather report from scotland. >> there will be snow for...