the chairman of citigroup today.hile he has been chairman they've had all sorts of problems and he is still overseeing a company that i feel has a rigged compensation package for senior executives. we can talk about the housing crisis, the mortgage settlement, and everything else. i'm talking about here today in 2012 this is a first and the chairman of citigroup -- this is a person, the chairman of citigroup, who should be gone. >> dick parsons wasn't chairman when all that happened. he was on the compensation committee. >> he ran the compensation committee and his point is he was the one basically -- >> authorized all the money leaving. >> rubber stamped all this money for people like ruben. but over the last couple of years it has been certainly paid to have a separation of the chairman and ceo roles of the company. are you suggesting that vikram pandit becomes chairman and ceo? what are you suggesting? if you got rid of dick parsons what is the solution? >> get another chairman separate from vikram pandit. i appla

and i believe that the best days of citigroup are yet to come and i believe the full potential of citigroupn the coming years could come back to the previous expectation of around $20 billion profit. >> as an investor, you surely want a dividend back. do you have any sense of when citi will pay a dividend the way that you were enjoying that dividend for so long? >> i believe they went public by saying that citibank will share through dividends. i believe it's very clear that all the banks, including citibank, has submitted their request to the federal reserve. >> my thanks to his royal highness. up next on the wall street journal report, it's not all business when i'm courtside with nba great kareem abdul jabbar. find his inner educator. >> you want the ball to come down through the hoop. go. more people do that, security would be like -- there's no charge for the bag. thanks. i know a quiet little place where we can get some work done. there's a three-prong plug. i have club passes. [ male announcer ] now there's a mileage card that offers special perks on united, like a free checked bag,

so how are citigroup executives doing these days? nicely, thank you. last year, its ceo, vikram pandit, took home almost $2 million in salary, almost $4 million in deferred stock. stock options that may be worth as much as $6.5 million, and a $16 million retention bonus. there's no clearer example of the collusion between government and finance than the deal that created citigroup in the first place. at a standing room-only press conference in april 1998, sandy weill, head of the investment bank and insurance company travelers group, and john reed, the longtime ceo of the commercial bank citicorp, announced a gigantic, $140 billion merger. just one problem -- the merger flew in the face of this law. you're looking at the banking act of 1933, also known as glass-steagall. glass-steagal was enacted during the great depression to prevent investment banks from ever again gambling with people's life savings, as they had before the market crash of 1929. glass-steagall protected us against a repeat of that calamity for 70 years. it's a little bitty thing -- j

>> with vick cram before he left on a far east trip. >> how is citigroup doing right now. >> i think citigroup under the leadership of vick cram is doing very well, and i think he was able to surprise the company and have the company go out of the whirlness it was in. any made more than $11 billion last year around i believe the best dives citigroup have yet to come and the coming years could come back to the previous expectations $20 billion profit. >> worried the company is spending too much money and expenses continue to outweigh revenue what do you do to rein in the expenses? >> i spoke about that with vick cram, it was convincing, in the previous period, if they were under investment in citigroup and head to invest to create growth for the company. >> as an investor, you surely want a dividend back. do you have any sense when citi will pay a dividend the way you were and the dividend that one time? >> i believe vick cram went public saying citibank the request to the fed reserve this is imminent and happen soon. >> do you worry they don't have enough capital? all the major banks

he's the largest foreign investor in the united states and the largest holder of citigroup stock. he is one of the richest men in the world with a net worth of $21 billion. i spoke to him about his new investment in twitter. the price of oil and the arab spring. >> no doubt that the revolution took place in countries like egypt, libya tunis and to a certain extent yemen and what is happening now in syria, is a wakeup call to many countries to try to have a peaceful revolution rather than violent revolution. i believe that many began to get the message. >> tell me how you see saudi arabia looking different in this evolution as you say, five, ten years later. how long does this evolution take? and how does saudi arabia look different? >> saudi arabia under the leadership of king abdullah is taking major moves at the social, economic and financial level which has helped the saudi people a lot. more has to take place on the political front to involve the people and have them participate in the system. >> let me ask you about the happenings. more news of the day, if you will, your high

citigroup has agreed to pay one hundred and fifty eight million dollars in a settlement over bad loans the bank passed on to the federal housing administration to insure now we know all about this thanks to a whistle blower now that rare breed right that often is forced to sacrifice their career risk attack on their character the destruction of their personal life to point out wrongdoing the kind of person that should be held up and shown support but which this administration instead has seemed to wage a massive war against something the mainstream media also doesn't cover but here we have a case that was actually a success for the whistleblower in the sense that it led to citigroup having to pay a fine once again just like with the massive fraud foreclosure settlement that was just reached between forty nine states and the five biggest banks settlement itself pretty much a slap on the wrist let's not forget that this is the same citi group the received forty five billion dollars in bailout money and yet for knowingly passing on bad loans the f.h.a. actually encouraging their employees

and then looking at another one, gap, up almost 3% today on a buy recommendation from citigroup. though they serve different consumers do they tell us anything about consumer attitudes about spending? >> well, i think really, susie, for the high-end consumers and companies that cater to high-end they have been outperformers for three years. they had price increase and input increases last year. cotton was highly priced. these guys have been able to pass along the prices and stick so though cotton's plummeted in price they've been able to keep high prices with consumers. other low-end types of retailers have not been so lucky but what i think is going to happen is they will benefit from the lower cotton prices. unemployment is improving. the economy is at least people are more confident we're not going have a double-dip. i think that's been help as well. >> susie: and how are you factoring what's going on in europe and in greece into your stock market recommendations and your investment strategy, are you finding that what's going on in greece is a separate story or is it impacting

afectadas por las ejecuciones hipotecacos qurticipen estacuery financial inc., bank of america, citigroup. " y consejeros recomiendan que si usted recibe una llamada de alguna supuesta institucion financiera lo que tiene que hacer es devolverle la llamada y asi verificar que esa llamada es legitima..." "si usted no genero esa llamada, no den informacion personal...busque ayuda si no esta seguro si esa informacion viene de su banco o no viene de su banco... una de las formas como puede comprobarlo es llamar a su banco y corroborar si se lo asiy le preguntan informacion personal o simplemente cuelgue.... mario..... gracias claudia... esperamos que tomen nota de estas recomendaciones.... bueno hacemos una pausa y en instantes... en bolivia miles resultan damnificados..detalles cuando regresemos...y tras acalorados deseo hasta el fin del presente y redeue nots washon est ace s... svi nuest na en red..w. ticiasco tambie nos enacebootwr, jo ya volvevemos!!!!!! el ceso ha pizarro nos trae lo ultimo.. rupo republicano es muy diverso y tenemos discusionesuro aqui fue que el presidente de la camara

citigroup will pay $158 million claiming they defrauded them ensuring risky home loans. it comes after a citigroup told them they were being misled. >>> a man reunited all because of one woman who would not give up the search for the rightful owner. >>> good morning traffic is moving along nicely in san francisco, we will tell you more about the commute and the bay area weather. ok ay, people, let's get started. pete, did you forget yours? me pete, me use pen! (laughter) sorry i'm late, i was in the 16th century looking for pete's pen. (laughter) guys, guys. take it easy, ok? pete's mom is videochatting me, and she wants her pen back! ok, alright, well. i just got one. so... yeah, you've got a little... yep, i can feel the wet patch. don't look at it. when it's on your mind, it's on ebay. . >>> good morning if you are driving to the bridge, right now traffic will being backed up and traffic on the span is moderate. >>> time is now 6:24, live in outer space, two russian cosmonauts are on the space walk and they are doing work on the international space station and among t

citigroup. j.p. morgan chase.ls fargo, allied bank signed on to the deal, which officials said will help up to a million struggling homeowners. they agreed to use $17 billion to reduce mortgage principle for a lot of them. cuts of up to $20,000 or so to help them avoid foreclosure. especially those who owe more than the value of their homes. the banks will use $3 billion to lower interest rates for thousands more. and $5 billion will go to pay small settlements, $1,500 to $2,000 to 700,000 more families that lost their homes in foreclosure legitimately, but possibly without due process. as well as for state and federal penalties and debt counseling programs. officials said the settlement would set a precedent for helping millions more borrowers looking for better loan terms to help them keep their homes. >> i believe that this agreement will eventually make widespread principle reduction throughout the country commonplace. >> robo signing czar, joseph smith, the former banking commissioner of north carolina will m

septiembre del 2008 y diciembre del los bancos involucrados son: ally financial inc., bank of america, citigroup otros acuerdos, quienes esten al dia en sus pagos hipotecarios en los ultimos 12 meses, tambien se beneficiaran.... manuel ochoa/ ledc "la clase media muchos de ellos que han quizas lidiado directamente con el banco o que personas que no han podido aplicar al plan de obama se van a poder beneficiar con este programa..." pero quienes critican la medida dicen que solo aplicara a una fraccion pequena de la poblacion ya que solo involucra a prestamos hipotecarios privados... claudia uceda/univision washington "y la implementacio los estudiantes de la region estan entre los mejores del pais.. detalles mas adelante... maÑana viernes se incrementa la nubosidad y existe probabilidad de aguanieve en horas de la noche... quedese en sintonia para informarle el pronostico completo... hay buenas noticias sobre el rendimiento academico de estudiantes de secundaria de nuestra region... maria rosa lucchini nos dice de que se trata.. veronica quiere la mejor educacion para su hija... "para uno de madr

citigroup dono medio millon de dolares para que aumente el numero de pequenas empresas en la ciudad, que fomente trabajo... " dar trabajo es lo mas importante ahora, crear oportunidades para emplear la creacion de micro empresas podria ayudar al pais con el desempleo dicen... "hay 21 millon de empresas en este pais y 88% son microempresas eso significa que tienen 5 empleados o menos. si cada uno de ellos puede emplear una persona extra, no tendriamos ningun problema///" pero el dinero no es lo primero que se necesita para empezar un negocio...sino la disciplina y un plan... És bueno tener una idea concreta y darle mente asi y concretizarlo, escribiendolo ... y dando mas detalles no simplemente teniendolo la idea porque muchas veces la idea puede dominar a nosotros, podemos pasar la vida teniendo una idea o teniendo otra idea..." les cuento que fidel, el empresario cubano que entrevistamos, quiere expandir su negocio convirtiendolo algun dia en un instituto que prepara a profesores de pilates... norma... gracias claudia.... manana comienzan las deliberaciones, en el juicio del univers

septiembre del 2008 y diciembre del los bancos involucrados son: ally financial inc., bank of america, citigroup, jp morgan y wells fargo. a diferencia de otros acuerdos, quienes esten al dia en sus pagos hipotecarios en los ultimos 12 meses, tambien se beneficiaran.... "la clase media muchos de ellos que han quizas lidiado directamente con el banco o que personas que no han podido aplicar al plan de obama se van a poder beneficiar con este programa..." pero quienes critican la medida dicen que solo aplicara a una fraccion la implementacion de este programa podria demorar, se estima que para que los bancos notifiquen a los prestamistas si estan calificados para esta ayuda podria demorar varios meses. hay buenas noticias sobre el rendimiento academico de estudiantes de secundaria de nuestra region... maria rosa lucchini nos dice de que se trata.. maria rosa... cuentenos..!! asi es norma, veronica quiere la mejor educacion para su hija... "para uno de madre al menos que ellos hagan lo que uno no hizo, pues salir adelante" dice sentirse satisfecha ya que la pequeÑa briana asiste a una escuela en ma

some of the banks participating in this settlement is bank of america, chase, citigroup, allied financial and wells fargo. back to you, frank. >> all right, gil. thanks very much the gil diaz live for us in walnut creek. >>> speaking of bank of america, unemployment lines are expected to get a lot longer in contra costa county this coming may when b. of a. says it will close its closing consumer service and operation units in concord that will eliminate 450 jobs there. the workers reportedly got the word yesterday. bank of america is planning to cut 30,000 jobs worldwide in a move to save as much as $8 billion a year. >>> people in san jose will gather at civic auditorium today as mayor reed delivers the annual state of the city address. mayor reed is dealing with many of the same issues as a year ago including the budget deficit and uncertainty about the as' downtown ballpark project. but the homicide rate is down so far this year after an unusual spike last year. the program begins at 6:30 tonight and is free to the public as space allows. we'll speak live with mayor reed during our 6:0

bank of america and both citigroup got a boost on news that greece could be one formal stop away from avoiding default. automakers reported january sales not seen since december tween cash for clunkers incentive. chrysler 81% increase of sales in its most popular sedan. o an l.a. court awarded one nearly 100,000 for her suit that the car didn't live up to its advertised mileage. american airlines company is planning to eliminate 13,000 jobs. pension plans and retiree health benefits are also on the chopping block. whirlpool surged 13% on its optimistic 2012 outlook. and, finally, workers at one australian bus line say they have the most generous boss. after he unexpectedly shared millions of dollars in bonuses after he sold the company. some decades long employees took home more than $100,000. hopefully, bosses are taking notes there! >>> coming up, the spurs rally. the magic win one. the 76ers pull off a big upset. >>> plus kevin durant shows dallas why oklahoma city are called the thunder. your early morning sports headlines are straight ahead. >>> if any groundhogs out there from c

bank of america, wells fargo, chase, citigroup and allied finance reached a deal with 49 states. ktvu's tom vacar is live with a break down the relief coming to the bay area. tom? >> reporter: this settlement turns up the heat on the banks and lenders nationwide. >> reporter: this afternoon, she along with friends, marched on chase bank to save her home. >> i have been trying to get a modification for five years. every time i put in the application they tell me i didn't do it right. >> reporter: chase and four other banks will grant california $3.1 billion in assistance. >> hard hit areas of the state will get a substantial amount of benefits so all of the relief doesn't flow to los angeles. >> reporter: alameda will get $757 million. contra costa 651. santa clara 588. salono 344. sonoma 267. san mateo 214. san francisco 167. napa 79. marin 50 million. >> they ought to think twice about what they are doing. 3-5 u.s. mortgage holders will get no relief because they are mortgages are held by fannie mae and freddy mac who refuse to do any principal reduction. >> reporter: so that is

. >> reporter: the deal involves bank of america, wells fargo, jp morgan chase, citigroup and allied financial. while the deal brings relief to some millions of others are still at risk. >> the banks have three years to fulfill the terms of the deal. 49 states have joined the settlement, including maryland. officials say the state will receive $960 million as part. deal. >> how did yardly love die? that is the focus today. wjz and adam may are live outside the courthouse. good afternoon. >> reporter: good afternoon, don. very detailed information here about the condition of yardly love's body, exactly where it was in her apartment and what kind of injuries she had. also lots of information today about first responders efforts to tray and save her life and meanwhile, the defense attorneys, they are picking apart all of these details trying to lay the ground work for their own theory. >>> former lacrosse player george hugley seen here walking out of court does not deny he was involved in an altercation with his ex-girlfriend in may of 2010 but his defense attorneys argue her death insi

citigroup and allie. >> the settlement money in maryland will help those not only still in their homesse forced to move out. >>> to help with the settlement. this isn't going solve everyone's problems, but it is a step toward helping people. >> if you are anywhere in the foreclosure process, her advice. >> i would tell them the best advice is to just call. >> this program just getting started but will run for three years. >>> so continue to make whatever payments that you are doing. >> and wjz eyewitness new. >> >> thank you. st's nil not clear when those will begin to receive the financial aid. >>> someone hopefully could be millions of dollars richer. the lottery spokeswoman says it could go even higher since it is based on sells the odds of winning are 1 in 175 million. no word yet if anybody won that big prize. >> a lot more still to come. bombs blast over syria. and how is the u.n. reacting. >>> that was like handing a baseball bat a person in alley knowing their going to use it to hit someone. >>> now they're fighting back in court: in the block buster performances for the grammy

citigroup, goldman sachs, or jpmorgan chase? the "dividend" pays off after the "dividend" pays off after the break. just wanted to check and make sure that we were on schedule. >>> just before the break, as part of 9 "dividend," we asked which stock is the outperformer so far this year? citigroup, goldman sachs or jpmorgan chase? now, the payoff. goldman sachs. >>> welcome back. you're watching the "closing bell." i'm seema mody. another strong day for the nasdaq. upbeat economic data driving the bulls into tech. let's start with one of our tech heavy weights, microsoft. definitely catching the attention of investors. hitting a four-year high in today's trade. another bright spot, some of those recently listed tech ipos showing strength. groupon and linkedin being said they're both overvalued. chip stocks, recovering lost ground after a softer than expected sales outlook for the year. some analysts i spoke to say this morning that the weak forecast, perhaps only a temporary setback. maria and bill? >> seema, thank you very much.

morgan stanley, citigroup, bank of america. big weightings in the financial sector.lso pushing the index forward. look at the dow jones industrial average. we're 100 points away from a new 52-week high, the old high, 12,876. that was back in the beginning of may. back to you. >> thank you very much, bob. >>> talking jobs, jobs, jobs this morning with steve liesman back at h.q. interesting adp number. we'll talk construction spending, too. >> if your viewers get it right, a signed mug. >> hey -- >> are you discouraging the mug, steve? >> the guys in marketing went all out on this one. that's the kind of thing that's going to really boost our viewership -- >> just wait. and you're welcome to enter, steve. you can send your own number in. >> do i get to play, too? >> if you wish. >> and i would get a mug with your significant on it? >> absolutely. >> fantastic! i want to go back to the data which reinforced the consensus view that job growth remained positive in january but likely slowed from the strong pace of december. let me show you the data here. total private, 170

the apartment with roof garden and wrap around terrace used to be the home of former citi group -- citigroup head sandy lyles. >>> we'll have more right after this, including our question of the morning. stay with us. good morning, welcome back to 9news now. 4:44 on this holiday for a lot of you. i know you are just waking up and watching us through your toes. good morning. you know how your feet are in bed. >> yeah, i usually prop myself up though. i'll have to try that, with the toe viewing. see what i see. >> i remember johnny carson said that one time. >>> it is such a quiet morning out there there was a little bit of snow south of town. you get down to southern maryland, parts of charles county, all the way south one, two inch totals across there. and richmond had about four or five, with 6 to 10 in southwest virginia. >>> no bus top forecast andrea, i don't think anybody is going to school today, with the holiday. if you are going to school today, let me know. we'll have a little bit of a breeze out of the north, 10 to 15 miles per hour. occasionally gusting 20 or more. by 8:00 p.m., 4

bank of america, wells fargo, j p morgan chase, citigroup and allied financial. not fretty mac and fanny mae. those are lenders used by 60% of americans. how do you find out if you can be a part of this? we have a link on our website listed under web link. live in oakland, i'm tara moriarty. >>> we received a statement this morning from wells fargo about the settle many. it says, quote, today's agreement recommends a very important step towards restoring confidence in mortgage servicing and stability in the housing market. as tara mentioned, you can find out whether you qualify or if you can be a part of this by going to our website. we've a link to ktvu.com. look under web link. you will find more videos and stories about today's announcement on bay area news and u.s. news tabs on the front page. >>> coming up, more good news on the job front at 12:15. we'll bring you the labor department's latest weekly reports on new claims for unemployment benefits. >>> an investigation is underway following a violent incident that left a police officer and a suspect both in

linda's the chair of johnson publishing company, and dick is the chair of citigroup.ory council of this, the smithsonian's 19th museum, the national museum of african-american history and culture, we want to extend our sincere appreciation for your sharing this incredible moment with us. we would especially like to thank all of our founding donors and it's an honor to celebrate this important museum with president and mrs. obama. a distinct, unique, great honor. fabulous honor. but while you're all dignitaries i would like to make mention of the fact that oliver holmes norton, congressman clyburn are here as well as many of the great supporters and other distinguished guests. all of you have helped achieve this significant mile stone. thank you for taking this journey with us. one of the things i like to do because nobody gets anything done by themselves or even with an able and beautiful partner, we have a council who has been with us on this journey and with lonnie, all supporting and advising. i'd like the members of the advisory council to stand and receive your a

there are five banks involved, bank of america, jp morgan, chase, wells fargo, citigroup and allied financial. as part of the deal they would reduce loans for about 1 million households and hundreds of thousands of people who lost their homes to foreclosure would now get checks for about $1,000. >>> lincoln park in falls church is closed for a major remodeling project. crews are preparing to install a rain garden. the first phase includes removing five white pine trees. and once installed, the rain gardens will absorb storm water and that should ease flooding problems and improve water quality. >> a lot of rain gardens going up across the region. good stuff. >> very good thing. >> very good thing. it's so nice outside. >> it really is. >> sat out on the weather terrace and enjoyed it. bright sunshine and low wind temps in the 50s. i'll tell you now, a little bit of wintery weather headed this way as we head into tomorrow, especially in the afternoon and evening. so the day planner for you this tuesday afternoon, lots of sunshine, temperatures going into the mid-50s. you know, some of the car

. >> reporter: the other banks involved include bank of america, citigroup, allied financial. the settlement would take effect for three years. and if these banks don't follow those detailed rules of the settlement, frank, they could be facing some heavy penalties. back to you. >> thank you, gil diaz live in walnut creek. >>> meanwhile, 450 bank of america workers in the east bay all told they are going to be fired. the bank is closing consumer service and operations units based in concord and they are going to shut down in may. the "contra costa times" reports workers got the word yesterday. they plan to cut 30,000 jobs worldwide to save up to $8 billion a year. >>> lawrence is excited about today's forecast. >> yeah. is there a sunshine dance? i'm not sure. >> i don't know about the sunshine dance. i'm just thinking about the shorts and the sunglasses and all the white legs -- [ laughter ] >> have to wear the glasses because of all those white legs. throughout the bay area today lots of sunshine coming our way. it's going to be the nicest day of the week today. what a neat s

bank of america, citigroup, wells fargo, jpmorgan chase -- just to name a few.t is important because if they settle with the bank, they avoid lawsuits. the result of the payout would be 750,000 people who lost their homes in the u.s. would receive about $2,000 each. and 1 million more would see their bree -- their mortgage reduce or refinanced. if they do reach a settlement at $25 billion, it will be the biggest ever between the u.s. government and a single industry. >> but the deal is not signed and delivered yet? >> no, but very close. it is likely. >> there is more to it than just interest rates, isn't there? >> absolutely. nobody was expecting any change in interest rates. the focus was, will these central banks within this region that is struggling, will they put more money into the system? we heard from the bank of england 20 minutes ago and that is a darkly what they are doing. it has increased its quantitative easing, qe, by the tune of $29 billion. even though it does risk inflation -- deposes that a threat to inflation. the european central bank -- it

i mean, he is doing a spectacular job and the situation of citigroup was very grave and he was able to stabilize the situation, and now -- >> rose:. >> would not have been able to do it without the government stepping in. >> for sure. like many other banks also. >> rose: indeed. another investment you have is in apple. many people wonder about apple after steve job's death. do you? >> well, the legacy of steve jobs and the strength of steve jobs is that he established a company that is moving and clicking very well. clearly, i think for the next five, six quarters, this will be still the legacy of steve jobs. i think maybe two years from now, we will see what happens with the new management. >> rose: still benefitting from the decisions he put in place? >> yes, for sure. right now we are seeing the legacy of steve jobs. >> rose: there is news corp. they went through a crisis in london. hacking. tell me how you reeked to that and whether you think that had a serious detrimental impact on news corp. >> >> my family goes back for many years and i met him today and meemeting more tomorrow

next week my guest, one of the middle east richest individuals and citigroup's biggest individual shareholderwill talk to the saudi prince. keep it here where wall street meets main street. see you next weekend.

bank of america, wells fargo, citigroup, ally financial, and j.p. morgan chase could pay an estimated $25 billion to put robo-signing claims to rest. >> tom: once that happens, what will it mean for a housing market that is still struggling to find a bottom? darren gersh begins our reporting from washington. >> reporter: up to now, most of the efforts to help underwater homeowners have focused on reducing their interest payments. but consumer advocates like ira rheingold hope the robo-signing settlement will focus action on the real problem-- reducing the debt burden for homeowners who owe more than their homes are worth. >> my hope is that, once we begin to see that principal reduction actually makes a difference, that these homeowners who could have been in default are no longer in default with their payments. it will move some of the actors in our marketplace who are being unbelievably recalcitrant in terms of principal reduction, in terms of allowing homeowners to save their homes will move in that direction. >> reporter: the biggest piece of th