. >> i think that goldman is different pile of now what, than bank of america and citigroup, and bank of america and city are in some trouble, the trouble, i think, outside of europe. >> and think about it, when we did the bank bailouts, the initial plan to buy the toxic assets off the balance sheet. that was the first one, it didn't work and hank paulson didn't do it, and didn't do it, so that stuff is still on the balance sheet. remember, they recapitalized and gave them money and that's on the balance sheet. if we go into a double dip recession, that stuff, cdo's, mortgage-backed securities, you name it, tied to consumers, they go down in price, banks got to take big write office. >> we couldn't bail them out again and there's no political will. >> that's the best news. >> and the problem, there'll be no problem. >> you know, that, no, no, no, they are too big to fail. if citigroup went under with 800 billion dollars in deposits, we're bailing them out because the fdic funds. >> and this congress is going to bail them out? this congress won't let this president spend money on anyth

america is enormous so much so that back in october of two thousand and five report came out of citigroup suggesting that banks should stop worrying about what happened to the bottom ninety nine percent of americans all the action they wrote was with the top one percent more and more than the entire bottom sixty percent and who were richer than the bottom ninety percent citigroup even coined a new word for our economy forget about quaint notions like the american dream or the middle class we are now a plutonic me working people drove the engine of our economy from the one nine hundred thirty s. to the one nine hundred eighty s. when the reagan revolution turn the economy upside down not only did all growth for the middle class stopped but it went into reverse wages for most working people today inflation adjusted are lower than they were when jimmy carter was president since then we've lost about a third of all our manufacturing jobs our engineering and software work are being done in india since then eighty percent of all the new wealth created in america are going to just the top one pe

exxon mobil citigroup because i'm talking to you and i'm talking to you as a person is after all according to mitt romney that's what you are. corporations are people my friend we can raise taxes that of course they are everything corporations are also that goes to people so what do you think it goes. tragically the supreme court agrees with it and ever since the high court handed personhood over to corporations and us giving them the same rights as we the people to meddle in politics and influence lawmakers the one area these corporations of focused most on is tax dodging as i point out my book on equal protection these corporations on leash in army of corporate lobbyists to wriggly american tax code was so many loopholes that you'd be hard pressed to find one just one corporation in america it pays any amount even close to the official top corporate tax rate in this country which is between fifteen and thirty five percent of course republicans who are wholly owned by the corporate persons argue that corporations are taxed far too much already but that's a lie as this chart shows as a per

it shows bank of america, citigroup and morgan stanley were the three largest. several more than banks also made the list. almost half of the 30 borrowers were european banks. >>> first time in a while we have been able to say this but it looks like the bulls are running on wall street. >> and live from the new york stock exchange with the latest on early trading. good morning. >> good morning. don't hold your breath but we have a rally this among. federal reserve will unveil further measures to support the economy. i'm told exxon mobil is all higher this morning and citigroup and bank of america leading stocks higher, even hewlett packard is up after a 20% stock drop on friday. ben bernanke will signal a new round to help pump up the economy is helping out this morning. here is what stocks are doing. check in on the numbers. dow at 168 points, nasdaq is up 1.7%. one of strong groups is tech, silicon valley index is higher, as well. gold futures hitting record breaking highs about concerns over global currencies. you noticed on friday, because the rise in gold p

new warnings from jpmorgan and citigroup. they say the threat of recession is growing. president obama begins a vacation where he has pledged to be work on a new financial plan for the country. >> reporter: the stream of bad news continues obvious, a lot of statistics on top of the already high unemployment rate, the housing crisis, all these various issues the president trying to confront. that may be why the white house is being careful what pick tiewshes the american people see of this working vacation. the first one they would you tell out this morning was a serious looking president being briefed on national security measures. the next real video we saw was the president take his doubters to a bookstore across the street from where we are. quite a scene as some of the support terse were shouting 2012 and four more years. but you can see what they are trying to emphasize. he's at work the national security matters. he's with his family. now he's playing golf, but he's playing at a golf club where they say we are not allowed to take pictures. the american people won'

he spent an important part of his career in japan when citigroup was facing scrutiny over there.ou know, it will be interesting to see what he does at s&p. it's called i was going to ask about his japan -- host: i was going to ask about his japan experience. guest: the government there was holding all of these hearings on citigroup, and it was very tense and he did, just like right now. when you see s&p called before congress this fall, it is going to be heated, i can assure you. and doug he actually bowed in front of them to seek forgiveness. some people are pointing at that moment. i did not know if they hope he will bow at the people but they are looking for a diplomatic gesture. he will be at the forefront. it will be interesting to see if mcgraw-hill sends somebody more senior than him. it may have gone higher up at mcgraw-hill. watch to see for someone higher up in the company. host: mark on our republican line from carson city, nevada. caller: they are tightly wound with the three major ratings agencies. the problem is all three of them have been wrong consistently. all th

citigroup global bought those, and then our bank of america/merrill lynch bought all of the re-fundings. so we premature cheap what was adopted as part of the last budget hearing. in that model, we had an average cost of borrowing. we achieved an average overall of about 4.48%, so we are pretty close. the items that also happens, the bond sale, moody's did downgrade us given our weakness. we had thought that would occur. moody's previously had as one notch higher than s&p, so now, with the movies in adjustment -- the moody's adjustment, what that means is we are still very much on a roll with the debt. a strong aa. we noticed in the electronic markets, as we're required to do with our material disclosure, and all of our bond documents, for our build america bond revenues. president vietor: commissioner moran. vice president moran: did they state a reason for the downgrade? >> this is on a current basis as well as a projected basis. what movies does is just take them all and line them up in a row, and based on our current level of water sailors and the cumulative fund balance reserves, t

bank of america and citigroup hit 52-week lows. a stock exchange said, why the dow industrials have tumbled more of the 1000 points in a two-week period. >> there is a lot of selling pressure and also volume is there. the volume is high and we see the big declines. traders have suffered serious risks. there are some general concerns that the u.s. economy might turn into a recession, just two yaft. the latest economic news is not that pretty. there are some technical factors as to why the pressure increases. it is the fear that the u.s. economy might head into another recession. >> one might this trend changed? when would that have to happen? >> maybe tomorrow. we get the jobs figures on friday. if those numbers come in better than expected, that could support the market. a year ago, we had the same point. weak economic news and a lot of selling pressure on wall street. that is when the federal reserve stepped in and pumped more cheap money into the system. there is a lot of talk that ben bernanke might start qe3. this might once ag

yesterday president devin sharma will leave s&p by the end of the year and will be replaced by a former citigroup executive. the resignation comes as the agency faces a justice department inquiry over its rating of subprime mortgage securities. the s&p says the mover has been in the works for months. >>> back on wall street gold shot up nearly 2% hitting an all-time record high, just shy of $1,900 an ounce. bank of america fell sharply again yesterday. down almost 8%. the nation's largest bank has shed more than 50% of its value this year. >>> meanwhile, hewlett-packard got back some of the 20% it lost on friday after announcing the end of its pc business. hp was up more than 3%. lowe's inched up 1% on news of a $5 billion stock repurchase program. boeing got a boost from $1.6 billion helicopter deal from the british royal air force. meanwhile, reports say delta airlines will likely award boeing an $8.6 billion contract early this week. elsewhere fewer folks fell behind on their car payments during the second quarter, according to trans union. goldman sachs was lower on the news that lloyd blankf

bank of america, citigroup, and hewlett-packard were among the stocks hitting new 52-week lows. despite boasting stellar earnings, both kraft and gm fell. >>> a retreat from stocks, gold briefly hit a record high but then tumbled. oil fell even more than stocks. 6% or more than $5 a barrel. and agitated investors were so desperate to get into bonds they were willing to accept almost no return just to get their money into a safe spot. how quickly were stocks being dumped? well, bank of new york told large investors like pension funds and investment houses, it would start charging to hold their cash because they were depositing so much after selling off shares. in things weren't tense enough today, the government releases its all-important payroll report. many expect a slight rise in unemployment. >>> well, don't bug the ump. real cool fans don't need a glove to snag a foul ball. tiger woods is back on the golf course, but did he bring his game with him? your early morning sports headlines are straight ahead. >>> your weekend forecast is going to feature more afternoon thunderstor

bank of america, citigroup, and goldman sachs each lost more than 10% of their market value. safe haven gold rose above $1,800 an ounce for the first time ever. another safe harbor, the ten-year treasury note rose sharply, while its yield tumbled. the dow has now lost more than 2,000 points in less than three weeks. yesterday's volatility was heightened by wild swings of heavy volume set off by computer trading programs. almost double the year's daily average were treated on wednesday. >>> walt disney dropped overnight a day after posting quarterly results. on the up side, cisco shares soared after its results edged past the street's expectations. and finally, apple closed as america's number one company by market value wednesday, passing exxonmobil. finishing the day worth a total of $337 billion. exxon had held the top spot since 2005. >>> well, making up for a miscue, beating up on a beginner, and the hit streak continues. we'll have the on the field enthusiasm of america's new soccer coach. the early morning sports headlines are straight ahead. >>> millions of americans h

cit citigroup, $100 billion.hese are the institutions that in the u.s., these tend to be the capitalists who preach capitalism 364 days a year until the last day when it comes time for their bailout. these firms would have gone belly up if they didn't have a cash infusion at the time that all credit was drying up because they fund themselves on this kind of wacky overnight basis that most folks don't understand. what do you make of this new revelation? >> it really is quite extraordinary. i was hearing in the uk about how close you were to financial armageddon. moving forward, it's important to learn. okay? how do you regulate? how do you go moving forward? we've got the problem with porch gal, ireland, grease and spain. >> i'm sure we agree on this. it tdoes seem like the bankers who were able to get -- they fought the disclosure of all this information. but who got such enormous liquidity, cash, provided by the federal fwovt government in way didn't want to disclose. obviously millions and millions of homeowner

he will be replaced by a top executive at citigroup. >>> a cash crunch forced a family-owned supermarket chain in the bay area to file for bankruptcy. the owners blamed their money problems on aggressive expansion efforts and the slow comple. the san francisco -- slow economy. they are hoping to sell their stores to a private investment group. there are no immediate plans apparently that close stores or layoff any employees. the family has been running the markets for three generations since the first store opened in berkeley. that was in 1929. >>> news from entertainment, nick ash ford from ash ford and simpson has died. ash ford and his wife, valerie simpson, put many of his hits, including "ain't no mountain high enough" and they wrote songs for ray charles and many others. the duo were singers in their own right releasing 15 albums. ash ford died in a new york city hospital of throat cancer. he was 70. ash ford is survived by his wife and two daughters. >> ♪ you ain't nothing but a hownt dog ♪ hound dog ♪ >> and another death in the music world, jerry lieber who wrote "hound dog" who

big trading firms such as citigroup and knight capital are prepared to start the day normally. but bank of america was waiting for word on new york's public transit. asian markets started off the day higher, thanks to friday's prediction of long-term u.s. economic growth by fed chief ben bernanke. an independent survey out yesterday showed hiring by small businesses slowed in august, suggesting recent stock market turmoil may have hampered job creation. that may not bode well for this week's biggest economic data. friday's august jobs report. most analysts find it hard to imagine the nation's jobless rate of 9.1% dramatically improved. >>> and finally, in a region with some of the nation's highest unemployment, fresno, california, county school superintendent larry powell is givinging back in a big way. going without his next three years' salary, over $800,000. remarkable there. >>> coming up, curtis granderson grabs the major league home run lead. a ray racks up the ks and the saints march against the raiders. plus a thrilling battle between california and japan in the little

it's like a quick death it leaves a mess we've reached our quota it was time to dry from citigroup's. so i'm writing style here because we're just about to head off to the river and hopefully give the space new lease of life releasing hundreds of leases of water at once can be a bit tricky though i may have to do a little with the side rescue work. so this is these so slow it's a breed of fish very soon we'll be taking them out on to the boats. they will find the right spot in the river so they can begin. the phones only been operating since two thousand and eight but they plan to breed up to three million fish a year which should give the kaluga and the animal sturgeon a good chance of swimming in these waters in the decades to come. it's amazing to think that just a few years this little guy could be a few metres wide a few hundred kilos in weight and hopefully we've given him the best chance of making it because of this size hopefully he'll survive for amazing good luck. he really did feel that we were helping to regenerate the river that's been supporting the people of this region

bank stocks are getting crushed again with names like citigroup and bank of america falling by double digits. i'm alexis christoforous, now back to you. >> thank you. >>> two suspects in the beating of giants fan bryan stow face charges today. the pair showed little emotion in court before pleading not guilty. louie sanchez, 29, and marvin norwood, 30, faced charges of mayhem, assault, battery, as well as other counts. they are held in lieu of $500,000 bail pending a september 30 hearing. >>> gone in 60 seconds. a dramatic smash-and-grab robbery in concord. as anne makovec reports, the damage will cost thousands to repair. >> reporter: this surveillance video shows how two thieves got in and out of the blue devils bingo hall within a minute. first you can see them looking to see if anyone is inside. then they ram a pickup through the front wall, back up and tram again into the atm machine, which appears to be their target. >> they were in and out in 60 seconds. >> it was right next to the door. they could have made bingo here, i don't know. >> reporter: this is the cram that shot the

bank of america is plunging by 20%, and citigroup by 16%. >> people are selling today, not just because of the downgrade, but because the u.s. economy looks a lot less promising today than it did one week ago, or three weeks ago. >> and there is a conundrum about what to do about record debt bearing down on rich economies. we pay them too fast, and perhaps go back to recession. -- we pay them -- if we read pay them payrepay them too fast, perhapwe prounced go back to recession. >> john mccain says do not shoot the messenger. the s&p is telling us what we pretty much already know. isn't this a confirmation that there are serious fundamental problems affecting the american economy that are not being addressed? >> the u.s. economy does have fundamental problems, but a rating agency is supposed to focus on whether the u.s. government can service its debts. and the u.s. can and always has for over 200 years, including in the great depression. if worse came to worse, we could print the money. what the s&p did, i think it was political. i think it was a travesty. if you are talking about the b

. >>> and no surprise, financial stocks led the markets lower here as well, bank of america, citigroupgoldman sachs each lost 10% of their market value. safe haven gold rose above $1800 an ounce for the first time ever. another safe harbor, the ten-year treasury note rose sharply while its yield tumbled. the dow has lost 2,000 points in less than three weeks. yesterday's volatility was heightened by wild swings of heavy volume set off by computer trading programs. >>> almost double the year's daily average were traded wednesday. >>> walt disney dropped over 9%, a day after posting quarterly results. on the up side after the bell cisco's shares soared after its results edged past street expectations. >>> and finally, apple closed as america's number one company by market value wednesday. passing exxonmobil, finishing the day, worth a total of $337 billion. exxon had held the top spot since 2005. >>> well, a miscue, beating up on a beginner and the hit streak continues. >>> plus, the on-the-field enthusiasm of america's new soccer coach. >>> your "first look" at sports is straight ahead,

citigroup falling more than 16% and student loan firm s.l.m. dropping almost 15%. here is a quick look at the largest financial company by market value, berkshire hathaway. these are the "b" shares, falling 6.5%. a new low tonight. s&p kept the company's credit rating unchanged-- double a plus, the same as uncle sam's-- but knocked down berkshire's outlook to "negative." as suzanne mentioned earlier, mortgage rates have been steady, but with worries about higher borrowing costs for home buyers. mortgage insurance stocks were down sharply. m.g.i.c. lost more than 40% of its value. radian group dove more than 28%. and m.b.i.a. was off over 12%. another blue chip getting bruised and battered in today's trading was verizon, falling 5.5%. this brings shares down to their lowest price of the year. what's going on? the selling comes a day after almost half of its traditional landline telephone, internet and cable tv service workers went on strike. about 45,000 walked out over contract talks. the unions have rejected company proposals to cut pensions and increase employee

citigroup you liked in september. now it's below 30. do you still own it. >> i still own citi group it's a longer story. same with the morgan stanleys and jp morgan. eventually they will go from unloved to be loved and which will see it removed. >> tom: that's painful enough how about pmi. the pry mat mortgage insurer. you liked this before the last election. now it's be lie 50 cents. you like that one? >> that's a real tragedy. i'm holding mine in case there is a miracle and coming back. hofplt how about disclosures hillary, you own what you mentioned tonight. >> tom: you can email us, streetcritique@nbr.com, or you can send us a note via twitter at my feed, @hudsonnbr, or n.b.r.'s feed. and facebook, too. we'll feature some of your questions next wednesday. our guest this evening on "street critique": it's hilary kramer with gamechangerstocks.com. >> susie: here's what we're watching for tomorrow. a closer look at the consumer-- we'll get a check on inflation with july's consumer price index, see the latest home sales data and get the

bank of america, citigroup, and hooup were among the stocks hitting new 52-week lows.osting stellar earnings, kraft and g.m. fell. gold briefly hit a record high then tumbled. oil fell even more than stocks, 6% or more than $5 a barrel. >>> and agitated investors were so desperate to get into bonds, they were willing to accept almost no return just to get their money into a safe spot. so how quickly were stocks dumped? bank of new york mellon told investors like pension funds and investment houses it would start charging to hold their cash because they were depositing so much after selling off shares. and as if things weren't tense enough, today the government releases july's all-important payrolls report. many expect a slight rise in unemployment. >>> well, don't bump the ump. the yankees beat up on chicago again. and real cool fans don't need a glove to snag a foul ball. >>> plus, tiger woods is back on the golf course, but did he bring his game with him? your first look at sports is straight ahead. it's a necessity. i find investments with e-trade's top 5 lists. qui

. >>> big trading firms such as citigroup and night capital are prepared to start the day normally. bank of america was waiting for word on new york's public transit system. >>> asian markets started off the day higher thanks to friday's prediction of long-term u.s. economic growth by a fed chief ben bernanke. >>> an independent survey out yesterday showed hiring by small businesses slowed in august, suggesting recent stock market turmoil may have hampered job creation. >>> and that may not bode well for this week's biggest economic data. that would be friday's august jobs report. most analysts find it hard to imagine the nation's jobless rate of 9.1% dramatically improved. >>> and, finally, some good news for you. in a region with some of the nation's highest unemployment, fresno, california, county school superintendent larry powell is giving back in a big way. get this. he is going without his next three years of salary. that would add up to over $800,000. that would be a lot of help for that area. coming up, curtis granderson grabs the major league home run lead. the saints marc

the company announced yesterday president deaf insharvin sharma leaving and will be replaced by a citigroupecutive. the resignation comes as the agency faces a justice department inquiry over its rating of sub prime mortgage securities. however, s&p says the move has been in the works for months. >>> back on wall street, gold shot up nearly 2%, hitting an all-time record high. just shy of $1,900 an ounce. >>> bank of america fell sharply again, down almost 8%. the nation's largest bank has sheds more than 50% of its value this year. >>> meanwhile, hewlett-packard got back some of the 20% it lost on friday after announcing the end of its p.c. business. h.p. was up more than 3%. >>> lowe's inched up 1% on news of a $5 billion stock repurchase program. boeing got a boost from a $1.6 billion helicopter deal from the british royal air force. >>> meanwhile, reports say delta airlines will likely award boeing an $8.6 billion contract as early as this week. >>> elsewhere, fewer folks fell behind on their car payments during the second quarter, according to transunion. >>> goldman sachs of lower in

between one nine hundred seventy one and one nine hundred eighty according to technical analysis by citigroup global markets incorporated now i want to show you this chart here max and this is provided by ned naylor leland and as you see the red circle there that's where we were just april and before that twenty five percent correction as you see it's very similar to what happened in the one nine hundred seventy nine run up a thousand percent run up from that secular low and then it took a twenty five percent breather and then as you see it zoomed ahead to all time highs at that point well this is where ideologically speaking we have to see that the c.m.e. is called with their pants down because if they were truly concerned about volatility they would let the natural order flow and price discovery occur in the precious metals markets including sober and. a lot of the capital flowing out of spec of bets flowing out of the margin accounts and buying into precious metals and this would recalibrate or rebalance the system and reduce overall volatility but the fact that they actually monkeying aro

all sectors are trading deep in the red with banks among the west before was well bank of scotland citigroup is now losing eight percent and plunged as much as twenty one percent early in the day that's after the bank swung to a second quarter looks and markets in russia joined the panic across international trading floors the r.t.s. is down three and a half percent of my xix is to have a percent lower now let's have a look at some individual first on the why six energy majors among the worst performers on low oil prices gazprom is losing nearly four percent have fell to its low. since december after oil plunged in new york that's all speculation that fueled a manner for financial stocks are also under pressure and telecommunications company was telecom one of the worst klein as the six percent in the wrapper so. the markets are in turmoil have the u.s. has managed to stave off a potentially crippling default but many countries are considering reducing their large dollar reserves into other less risky currencies however saying you guys over at burbank argues there are. japan and switzerland

and other files looking into the behavior of big banks like bank of america citigroup wells fargo and morgan stanley in a letter to the chairwoman of the f.c.c. senator grassley wrote it doesn't make sense that an agency responsible for investigations would want to get rid of potential evidence if these charges are true the agency needs to explain why it destroyed documents how many documents are destroyed over what timeframe and to what extent its actions were consistent with the law it looks like this is another case of corporate capture of government regulators but even more troubling maybe the corporate capture of one of the most important committees in the house of representatives the house oversight and governmental reform committee currently chaired by former criminal and now republican congressman darrell issa who also just happens to be the richest man in congress and made much of his money outsourcing the manufacturer of his car alarms to asia for more on that story i'm joined by lee thought investigative journalist and blogger at think progress dot org we welcome back. a ti

betrayed by her parents and those who promised to adopt her and never did then she finally found a home citigroup poignant in the home you are always just a part of the group but here in the family you are needed by someone there is not tenderness more love and happy. with the last. so often it does make an effort to connect with the world outside and adoption becomes more widespread and society will be more happy endings like this one. hundred. me here with you know look at the follow up who is a citizen of here on the homefront should provide us with the global fossils perspective on the option now all these officials are telling us that the situation with adoption is improving more and more children are finding new parents now from your own observations is this the case is a becoming more popular yeah i think that this if you shoot the dog truth has changed recently been developed country and being here regional and there are more and more parents who want to see babies from children's films because either they have health problems all the long to come but it's a parabolic maybe some of them.