the odds sound equally absurd, but following the occasion of zuccoti park this past winter, jamie dimon appeared to be echoing some of the outcries. he said blaming the banks is just a form of discrimination. but diamond now says: many on the right equate regulating wall street to suffocating the nation's big banks but the murdoch owned "wall street journal," invokes the law that does not do enough financial oversight. bring in paul abrams crib ought to writer who wrote this up for the "huffington post" yesterday. thanks your four time. >> thank you for having me. >> when i read your piece, i thought maybe i missed something were his comments as surprising to you as they would have been to me. >> they were when they came out, but as you said i think occupy wall street changed the dialogue in the country, and they see there is an increasing chance that president obama is going to be elected and very much like the mafia of old they are going to bet on both sides. i think this is probably the least that they care about. so in essence if you think of this as one big negotiation, they are si

jamie dimon wrapping up his speech at investor day.pmorgan are slightly higher on the day. year to date up 18%. has been at the big meeting. joins us right now. gerard, what was a headline when you got out of the meeting? what was the headline you wanted to race back and tell clients? >> i think the headline was the earnings power of this company is incredible. right now they're still lugging a lot of costs from the financial crisis. they put up about $18 billion of net income last year. when you take all the costs, they're really running at about 10 billion. it's not going to happen overnight. that has nothing to do with rising rates. >> it sounds they're hunkering down to some extent. there were some comments made that it is reasonably unlikely they will make in the near term. they want to boost their capital levels at this point. >> i think that's true and part of it's political. one of those too big to fails. on acquisitions in the united states is 10% of the market share of the deposits. they're below that but they politically can

then they're in central america south america so presumably we're going to see jamie dimon falling from the sky one of these days from one of these vulture funds or forgot a parachute there is jamie splat well returning to this soap opera of america mega trash fifty million users data set to be deleted. so you know mega upload was shut down by the department of justice they had a ten day warrant search warrant they took all the data they needed and they said here to the host the service providers they said you can delete any data you want now now there's some controversy or not whether they'll allow customers to actually retrieve their data but the fact is joe baca donuts who has his own data upload it's a mega upload he's deleted well that's a pattern of destruction of private property america supposedly the capital system is built on private property not the communal property of the defunct political systems of bygone days of communalism no no we have private property doesn't make the country so grade all except one we lost the brilliant dollars for jamie's bonus then we had to steal

bucks leave us alone we have other terrorist activities to conduct i'm going to see if there jamie dimon to lloyd blankfein that is some elementary school and fly by state america shaking down a kid for his five cent milk money in your foot so it's good you know that's the whole business model is shaking down whether it's taking them households making them kids taking down students taking them government shutting down the pentagon saying about the weight of that's not their business model ok u.b.s. first of all barack obama has been photographed playing golf with the c.e.o. of u.b.s. america so he's in cahoots with them u.b.s. is also as we covered just two or three episodes ago they were involved in rigging libel rate. that's right. that's right they're involved in of course a whole panoply of financial scandals and frauds of course after they bought paine webber my old firm in new york. the money launderers in washington in london decided the theory to be a good way to take switzerland out of the money laundering business and now we've got that money laundering that we saw in switzerla

dick, what more do you want to know from jamie dimon today?, frankly, i think in the connotation with the cfo they laid out the key things that we want to know. they indicated that they think that the earnings power of the company is roughly 33% above what the current earnings were or what the earnings were in 2011 and they suggested that they would pay out 30% of that earnings power at some point in the future which means that the dividend should get up to something on the order of about 70 from -- at the present time. the company has basically, therefore, laid out where they are going to go and what we will see as investors and analysts. are we going to get there. and our belief is that they have a strong enough management team that will reach the goals that they've laid out today. >> i think you've got a buy rating on the stock, a $40 price stock and the stock is bumping up against that. does that mean it won't go very much farther? >> i don't think so. i think we're seeing an enormous change in psychology and it's almost mind blowing. in o

we have hat jamie dimon on fox business and i did a long interview and jamie dime -- dimon will say wew legislation, but this is a monstrosity and it crimps our ability to lend money to consumers and to businesses which is what it is about. >>neil: but this is a deflections? >>guest: and it is political. why else does this have anything to do with the financial crisis? it is so obvious. >>neil: but it is part of the same story, rightst they must have pulled this out and figures it works. >>guest: this is the problem with the bill. it is blatantly political, and this comes a time, we needed regulation but when you add politics you have an issue. dodd-frank, i am sure they had the best intelligences -- intentions but the banks can not lend money because of all of the restrictions and if you want to know why we have 8.5 percent unemployment and one of the slowest recoveries coming out of a recession, ever, it is because of this law in large part. >>neil: good stuff, charlie gasparino, the best. and he has the donald but would everyone love romney if he took a cue from "raymond," and would

and -- you know, like -- the reason jamie dimon is not going to sit down at the -- without -- maybe hews it is far more effective for him to be just -- >> caat the end of day it is a question of there are a limited amount of sort of -- ways that it can go. the -- these companies can continue to generate profits at the expense of our economy and at the expense of the lack of social utility or they won't. it is not in their interest to back off that. >> understand. quick point. andrew sorkin wrote a piece on the volcker rule. if i understand him right, liberal arts major, he said it is going to hit the face it will win closed cost. >> on the banks. not the economy. >> but he was suggesting that what -- have impact on the -- on the -- >> my only point is all -- i would love to see a forum where these things are actually talked through -- >> respond to that argument on costs. >> well, so -- the idea is that if these -- can't be the market makers and market maker, i was thinking about this analogy a while. have you these pastries and no one eats them. if wane to be a market maker, hide thes

one of the things jamie dimon does well is set up the statement for not only jpmorgan but the industrys a whole. what he says will lend itself forward as part of the industry as a whole. and all those. because i think they benefit greatly from any improvement in the housing market. maybe even more so than what jpmorgan does. >> jamie cox. do you think the comments about the housing market -- bullish comments will help lift sentiment? >> i hope so. last year did talk about the dividend. and i think that could be somewhat helpful. i think we'll see a buyback. that could be helpful as well. their earnings machine -- earning story is still in place. it's cheap. >> anything unusual in the markets with jpmorgan or financials at this point? >> not really. we saw a lot in december and january buying upside calls. even when vols were much higher. a lot of the easy money's been made. out to april, that's going to catch the q1 earnings report. it's realized that for the last 30 or 60 days. the options are reasonable if they want to mange a defined risk. >> one thing he didn't fully address is the

jamie dimon will be addressing the afternoon later this afternoon. investors are waiting for what he has to say. but earlier this morning, the cfo kicked things off outlining a number of targets the company has in mind. he says over time they are expecting the company to earn $24 billion a year. you could take that to mean over the next two to three years once they get a numb of issues about the mortgage and the housing market behind it. that would be a 25% increase from the $19 billion that jpmorgan earned last year. also the return on tangible common equity raised slightly to 16% from 15%. and the cfo forecasting for 2013, expenses at flat around $42 billion. he said that over time, two to three years out, you're going to see about $10 billion of loan loss reserve releases from the bank. and lastly addressing one issue analysts were concerned about, where's the revenue going to come from? bronstein pointed out that both international as well as loan growth will be two key drivers for revenue. along with bronstein, a number of heads at the different

dimon says the company's focus will be to navigate regulations and capital requirements. apple is now a half trillion dollar company. it is the sixth stock to ever cross that threshold. next week uponael's expected to unveil its next-generation ipad. it is expected to have a quad-core processor with the latest 4g technology and we've crunched the numbers. if apple were a country, larry, it would be the 20th largest economy. back to you. >> and a rather efficient one, at that. many thanks, w nbc's jonathan dienst. coming up on kudlow, a market milestone, dow 13,000 and holding up pretty well. first time we've hit it since may 2008. we'll talk about a market momentum. we have jimmy rogers and mike holland and steve grasso. stay with us, please. >> welcome back to "the kudlow report." i'm larry kudlow. at the top of this half hour let's do some stock market work. good day for the markets. dow settled above 13,000. that's the first time since may 2008. s&p 500 above the t-1370 level thank to a consumer confidence reading. we'll get to it in a minute, but let's talk to investi

would you rather be jamie dimon or mark zuckerberg?g. >> because he's a billionaire. >> reporter: they're heeding the advice horace greeley gave 100 years ago, go west, young man, go west and grow with the country. perhaps these numbers say it best. we mentioned that survey cited by "the wall street journal" last fall. it says 20% of early career professionals would like to work at google. 13% at apple, 9% at facebook. 2% at jpmorgan. also 2% at goldman sachs. >> i think it's kind of like a "duh" kind of question. that girl nailed it when she said, he's a billionaire. yeah, i'd rather be him. >> reporter: and most of them don't know who jamie dimon is. >> yeah. these days. i do sound like my mother, don't i? >> i'm just -- we have to go. i'm just saying it's still a little "love of money" type of stuff. doesn't matter what your suit is. >> reporter: it's all in the marketing, brian. it's in the marketing. >> exactly. >> great package. thanks very much, jane. >>> up next, it is valentine's day. need a little more return with a little le

morgan's jamie dimon making a revealing admission about the occupy movement.td#: 1-800-345-2550 ttd#: 1-800-345-2550 let's talk about the cookie-cutter retirement advice ttd#: 1-800-345-2550 you get at some places. ttd#: 1-800-345-2550 they say you have to do this, have that, invest here ttd#: 1-800-345-2550 ttd#: 1-800-345-2550 you know what? ttd#: 1-800-345-2550 you can't create a retirement plan based on ttd#: 1-800-345-2550 a predetermined script. ttd#: 1-800-345-2550 to understand you and your goals... ttd#: 1-800-345-2550 ...so together we can find real-life answers for your ttd#: 1-800-345-2550 real-life retirement. ttd#: 1-800-345-2550 talk to chuck ttd#: 1-800-345-2550 and let's write a script based on your life story. ttd#: 1-800-345-2550 >>> well the height of the occupy movement this fall hundreds of protesters marched to the door steps of one of the city's wealthiest including jp morgan chief executive jamie dimon's home. in one recent interview he revealed he wasn't even there. >> that particular day i was in lebanon, beirut doing business over t

shares trading up just a few hours away from jamie dimon's speech.miller at fbr capital markets has been at the investor meeting this morning. joins us now on the fast line presumably he stepped out in the hallway. welcome to the show. >> thank you. >> what's going on with j.p.morgan's shares? why have they by and large lagged some of the other names in the group? >> i think you know, i think a lot of people still concerned about how the volcker rule is going to impact this company. so profitable for them. today i think jpmorgan is telling a story that we can take advantage of other people's problems but right now the market is tough. the yield curve is flat. there's not a lot of yield out there and it's very tough to charge customers fees so the revenues are going to be relatively tough to come by unless you steal more market share out there. if jpmorgan is one of the better names out there and we think it will be one of the big winners as you get regulatory relief. they're telling a story that the environment is still tough. >> net interest margin

dimon's money. we don't know how much he has been awarded.what that figure is. earlier, we spoke to ralph silver, a banking analyst, and he said, look, we've got to bonuses. if we do that, there's a real danger we could see many of these talented individuals leaving the country and going elsewhere. of course, they're the ones who are benefiting in other countries. >> there's always risks involved here. it's the nature of the business. it's a risky business. so, we have to pay these guys to keep them, butç we have to pay them only the amount that we need to pay them to keep them so they don't move on. bob diamond is a realñvç flight risk, because, a, he's american, and b, barclays makes most of its money in america. >> but this is a footnote to that. bob diamond did a conference call with various analysts,ç a somebody had the courage to qa21:urpá'sç happen with this bonus? and he said, this is about results today, and apparently it was a very crisp reply and they moved on.  bonuses, but ralph makes a fair point as well. there's an india-e.

greek citizens right and one of the rating agencies just do they just downgraded greek debt what jamie dimon do is a price tag for being inconvenienced by occupy wall street he stole a billion dollars of m.f. global so you know i mean there's no nothing to stop the people in charge from using this as a price tag an opportunity whenever they're inconvenience to just steal more money where they're going with us well this is a market mechanism isn't it if the market is a free market would have done what exactly what anonymous is threatening to do so basically perhaps this is just the free market just breaking through maybe the internet the global world wide web has given a voice to the free market it's just it's a force unto itself not made of any individual speaking but it's the free market speaking for absolutely i would agree that. now with the swedish pirate party and other pirate parties and other countries around the world that's the beginning of a new global democratic movement that ultimately will kill the bankers and won't be attacks on bankers it will be the pirate movement. bubbling

african nations whether or not they can get away with shaking down the third world dictator like jamie dimon the economic hitmen then the vulture funds that operate in the third world latin america they go down there they don't get the money they throw a dictator out of the plane. then they're in central america south america so presumably we're going to see jamie diamond falling from the sky one of these days from one of those vulture funds oh i forgot the parachute there is jamie splat well returning to the soap opera of america mega trash fifty million users data set to be deleted. so you know mega upload was shut down by the department of justice they had a ten day warrant search warrant they took all the data they needed and they said here to the host the service providers they said you can delete any data you want now now there's some controversy or not whether they'll allow customers to actually retrieve their data but the fact is joe baca donuts who has his own data upload it's a mega upload he's deleted well that's a pattern of destruction of private property america supposedly the

needed to create seventeen or eighteen new agencies pay them billions and you know they made jamie dimon look like. restraint of litter in fact luden county now it's not looting but it sounds better as looting it was an agricultural county up until only the one nine hundred sixty s. so yes it has you see the emergence of the new the one percent they are there they're the ones that are basically the toll booth operators between you the people the ninety nine percent and the government so they own the government behind their toll booth so that's the key point is that the life in the u.s. and around the world is being obstructed more and more by these especially these toll booths where you've got these in privileged is not a word. a privileged class that are set up by the government to basically take money from folks as are trying to get from point a to point b. so it becomes extraordinarily. going to rewrite the some of the songs like america the beautiful they're going to write it like america the prism but also like what sort of wealth do these people create a service economy is in which

general electric zero ok so they these extremist refuse to pay taxes how many regulations does jamie dimon say he wants to abide by. he goes to other countries like canada and gets them to go around their own regulations exactly however we're going to turn to some more extremism max how your dollar got to be worth just three point eight cents this is an extremist chart from credit suisse bank on the extremist web site business insider dot com and you can see from the chart on the read the rising prices notice how prices really started to take off max after nineteen seventy one the blue is the purchasing power in one thousand nine hundred dollars now notice the two huge catastrophic drops of about fifty percent at a ten year period when your purchasing power dropped by fifty percent the first time nineteen ten to one nine hundred twenty what happened in that ten year period . the federal reserve was created then the second one thousand nine hundred seventy two one thousand eighty do you remember what happened in that ten year period max unlike me we went off the gold standard so this is an

morgan and the into gesturing they're getting from bear stearns you know jamie dimon told us two years ago the bear stearns would not be material to their results but it's going to be very material because investors of lost more than half their money on the securities that they created so there's still stuff to fall out in this whole mess we kind of know what the numbers are now max i don't think there's anything particularly new in terms of their exposures but the thing is risks that we haven't talked about like eric schneiderman deciding that these people owe him you know billions and billions of dollars for the taxes that's a new factor that nobody is thinking about now i we got a one minute left i just want to have you comment on something that's a bit on the technical side but i think it's very interesting while ben bernanke is talking about the need for lower rates as a stimulus you haven't quite yet i've heard you talk about this. then there's a need for interbank lending just be stimulated by raising rates completely against what you hear the stream got and we'll have about a m