. >> dimon's on the way. few moments. and that's not all. people find out state farm does car loans as well as they do insurance, our bank is through. good point. grab an edge. look there's two guys on the state farm borrow better banking sign. nope for real there's two dudes on the state farm borrow better banking sign. [ reporter ] breaking news from the state farm borrow better banking sign... we're seeing two men that have climbed the borrow better banking sign gentlemen please get down from the state farm borrow better banking sign. phil get the hose. okay he's getting the hose. alright, let's go. [ male announcer ] talk to a state farm agent about car loans that can save you hundreds. that's borrowing better. (announcer) at scottrade, our tcexactly how they want.ts. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i d

on jamie a dimon?ll, hold >> agree with hillary and john. 2008 crisis we're years away but how quickly we forget. the 2008 crisis was horrific. he was the beacon of light. his firm was considered one of healthiest of nine largest banks that received tarp. you can't look at the guy and his guidance. melissa: that was too easy for the group. stevie cohen. this is somebody he is either the greatest trader of all time or, you know, something less legal, depending on everything that is goinghi on. we don't know anything yet. but there's a lost controversy around this. so, you know, john, let me start with you. buy, sell or hold steve cohen? >> strong buy. 10 plus years of 20% returns in his hedge fund? melissa: you're not worried where those returns came from? not worried about redemptions going on right now? you're not worried of him becoming a family office at best? >> i'm not worried you by think unfortunately he is made a scapegoat by insider trading laws which are completely nonobjective and arbitrary

yes, i do like jamie dimon. what makes him credible is he said wells has done a better job at this but what also makes him credible is he did not beat his chest saying we killed it in trading, they did, but he didn't say that. >> right. >> nor did he sit there and say you know what if the government just got off our backs. we'll deal. >> he also said failure -- you're allowed in america to fail, that there's no crime to fail, but if someone actually does something wrong, they should be punished for that, but i think he made a very interesting point that wall street doesn't often acknowledge, that not every trade is a winning trade. >> right. >> and not every trade longer term is successful. that's okay as long as longer term you fulfill the mission. >> and we got rid of the people. we got rid of them, and i know the people have been with him for a long time, and he was just very blunt, they are gone. we have -- you know, we've got delivering alpha next week. >> right. >> i asked him that question about the indic

jamie dimon not qualified?ery single person i know would say jamie should never be fed chair. >> i think he'd be a good fed chair. if the fed does taper, the bank will be a winner because it won't happen until -- until business is good enough that the fed doesn't need to help out anymore. dimon roped a doped every single one of my political jabs. he parodied all my attempts to say perhaps the controls can't be in place to forget another whale scandal. there was only one moment, one moment when he flashed that wit he's so famous for when he stopped me in my tracks when i suggested wells fargo did a better job than his bank on home lending. take a look. >> i love them. they do a better job in the mortgage -- >> you admit somebody is doing better than you. >> absolutely. they've been doing better for a long time. we had the old bear stearns, wamu. our systems weren't great. a new management team in place. at the end of the day, we'll have a great management business. >> it's true. as strong as the quarter was it w

morgan's jamie dimon live at the new york stock exchange. of course, after the banking giant releases its earnings report in the morning and that's tomorrow at 10:00 a.m. eastern time. that's big, jim. >> it took two and a half years to make half and in another two and a half years maybe he'll it will be on every corner. it's a long time coming and i am very excited about it, and i think we're going to deliver. >> can't wait for that tomorrow. >> thank you. >> let's get to john ford and we have numbers back at hq. >> carl, that's right. microsoft right now rolling out the news of its reorganization. here's how they're doing it. the idea is for microsoft to be more one microsoft, less organized around business units and flattening out the organization. you can read this as steve ballmer taking a more direct hand in trying to move this company more quickly in mobile and cloud. here's how it breaks down. three -- four engineering groups now that this is organized around, one in operating systems, windows, windows phone, xbox and terry meyerson

jamie dimon and the company news letter and the next day he was fired for unacceptable conduct but a hong kong judge ruled today that the firing was hypersensitive and awarded williams one point six million dollars now the video max was a compilation of a crash j.p. morgan by silver campaign and now the hong kong judge. decided that the bank jeffries was irrational and they were hyper sensitive to fire this guy for fear of upsetting. thomas on well we just got a scalp of morgan they you know the old juge find the first of many relating to their silver position well it's interesting that hong kong is also the center of where all the gold is working in the world hong kong allowed snowden to go to flee hong kong is now saying jamie dimon he that much so who cares if we've insulted him in this e-mail so you know it's what you say you've got a lot of guts to show all of. those are the words or one of the former good friends are here but we're all right state your. thank you x. . stage of us are going to have a whole lot more. wealth . for its technology innovations all the least of melami

and that's in the final headline here because max you were in the headlines with here's the jamie dimon downfall parody that cost the bank one point eight six million dollars on december seventh two thousand and ten grant williams that equity trading head for global investment bank jeffries included a downfall video mocking j.p. morgan chase c.e.o. jamie dimon in the company news letter and the next day he was fired for unacceptable conduct but a hong kong judge ruled today that the firing was hypersensitive and awarded williams one point six million dollars now the video max was a compilation of crash j.p. morgan by silver campaign and now the hong kong judge. decided that the bag jeffries was irrational and they were hyper sensitive to fire this guy for fear of upsetting. jumped on well we just got a scalp of morgan but you know the old jews find the first of many relating to their silver position well it's interesting that hong kong is also the center of where all the gold is working in the world hong kong allowed snowden to go to flee hong kong is now saying jamie dimon he ain't tha

i go one on one with jamie dimon. there's always a bull market somewhere.cramer and i will see you tomorrow. >> what do you have to say to the public, to your investors? >> narrator: bernard madoff masterminds the biggest ponzi scheme in american history. >> are you sorry for what you did? >> i would say he is the charles manson of the investment world. >> narrator: once living in the lap of luxury, now this is what he calls home. but bernie madoff isn't going away quietly. >> bernie, in a loud voice, said, "[bleep] my victims." >> narrator: what is life really like for bernie madoff behind bars? >> every time i saw him, he had a smile on his face, you know?

allegedly spent five million dollars can try to convince shareholders to vote with it or vote with jamie dimon and let him both be a manager and chair overseeing himself so i think this is an important point because we have hedge fund managers like carl i can who is an activist investor and he uses power to get on the boards can eliot spitzer really affect any chain. though in this position or is he going to use his rolodex to the new york attorney general office or the governor himself to be able to effect some change well any any device that is available there are special laws in new york that. can apply i think we have seen in the non-prosecution of the greatest financial crime in in world history really not just a lack of zeal but a lack of inventiveness people keep saying well we can't prove c enter a we can't do this well ok but you can do many things and put your thinking cap on you can do it kathy let's talk of let's talk about swaps regulation right now and we'll have we only have about a minute left what is the future of this stuff one hundred trillion dollar industry that the c. of

shareholder resolutions they for example brought the resolution that challenge whether or not jamie dimon can be both c.e.o. and oversee himself as chair for example and did very well in the vote no campaign on ellen food or who was one of the risk committee members of j.p. morgan and brought the credential of being head of the natural history museum. in new york city but all sharp teeth are more than welcome in the field of shareholder activism just for example j.p. morgan allegedly spent five million dollars trying to convince shareholders to vote with it or vote with jamie dimon and let him both be a manager and chair overseeing himself but i think this is an important point because we have hedge fund managers like carl like and who is an activist investor and he uses power to get on the boards can eliot spitzer really affect any change though in this position or is he going to use his rolodex to the new york attorney general office or the governor himself to be able to effect some change well any any device that is available there are special laws in new york that that can apply i thi

spent five million dollars can trying to convince shareholders to vote with it or vote with jamie dimon and let him both the manager and chair overseeing himself but i think this is an important point because we have hedge fund managers like carl like and who is an activist investor and he uses power to get on the boards can eliot spitzer really affect any change though in this position or is he going to use his rolodex to the new york attorney general office or the governor himself to be able to effect some change well any any device that is available there are special laws in new york that that can apply i think we have seen in the non prosecution of the greatest financial crime in in world history really not just a lack of zeal but a lack of inventiveness people keep saying well we can't prove c enter a we can't do this well ok but you can do many things and put your thinking cap on you can do it kathy let's talk of let's talk about swaps regulation right now and we'll have we only have about a minute left what is the future of this seven hundred trillion dollar industry that the c.

s like jamie dimon the one percent skewed. some of these statistics so i would say that the public sector they get paid a little bit too much and you have to consider they're taking into consideration public benefits like pension benefits as well. i agree that they get paid very well ok and i will agree that when compared to certain other individuals that it is relatively unfair ok so actually in the private sector where you don't have any of the pensions and you don't have any of the job security and you don't have any of those things maybe we take some of that into the public sector and if people were a little bit more fearful of their jobs but they got paid well then you would get more of the good employees that you had people that do the job really well unfortunately i would say the way a bureaucracy works is by by design you have incompetence rising to the top by design how is that any different than any other organization that's more than like a hundred employees will look at apple apple innovates they have thousands of

can dimon deliver another gem? we'll head to cincinnati to preview the earnings. besides all of that, the long lenses are at the ready and high streets up and down the country are full of baby souvenirs. it can only mean one thing. a royal baby is on the way. while the duke and duchess haven't revealed the due date for the third in line to the throne, reports point to july 13th. while the baby probably needs no gifts, we thought investment advice might be in order. which asset class do you think would be a fit for the future king or queen of england. you can also tweet u us @cnbcworld. maybe up until the 21st birthday, how about that? >>> the release of crucial economic data from india being delayed until later today. we'll find out why and what it means when we go to mumbai in a few moments. 7 [ male announcer ] it's time. time to have new experiences with a familiar keyboard. to update our status without opening an app. to have all our messages in one place. to browse... and share... faster than ever. ♪ it's time to do everything better than before. the new blac

do not miss jamie dimon in a cnbc exclusive.ll be with jim cramer at 10:00 eastern today. >> i have more. i was relaxing already. first, julia bore citizen jours with an interview with eric schmidt. my mantra? trust your instincts to make the call. to treat my low testosterone, my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while sle

jpmorgan ceo jamie dimon sitting down with the top dogs for the financial markets.lans for failing banks. >>> good morning to you. the dow is up 75 points. the s&p up 11. right now futures indicating a lower start at the open right now. the s&p 500 is currently some four points below fair value. nasdaq five points below fair value and dow jones, actually just some 20 points below fair value. futures were lower around an hour or so ago. ftse is up. we had been stronger asian markets despite the weak chinese trade data. european equities lower during the course of the session. and we're down about nearly half a percent for the ftse. ftse in italy down a percent. italian banks hit after the s&p downgrade. so plenty of comment already today on the channel. here is a recap of what the experts are saying. >> last quarter of this year we'll see a depreciation. and that's the question we talked about in washington at the moment. u.s. and china talks. the americans want to avoid that. a lot of other things they're talking about, cybersecurity and so on. but no longer a runwa

of course, without hearing the conference calls and talking to jamie dimon tomorrow, this could be premature cracking down on medicare fraud. the healthcare law gives us powerful tools to fight it... to investigate it... ...prosecute it... and stop criminals. our senior medicare patrol volunteers... are teaching seniors across the country... ...to stop, spot, and report fraud. you can help. guard your medicare card. don't give out your card number over the phone. call to report any suspected fraud. we're cracking down on medicare fraud. let's make medicare stronger for all >>> don't miss tomorrow "squawk on the street." there's always a bull market somewhere. always trying to find jim crame you tomorrow. >>> good evening. an historic day on wall street as the stock market enters unchartered territory. hi, everybody. welcome to this special coverage of market at all-time highs, tonight. i'm maria bartiromo. >> and i'm bill griffeth. nasdaq hitting a high of 15 years. stocks are now red hot in july. the dow is up 3.7% just this month. the s

i want to bring in jeffrey toobin and diane dimon. let's pick up the audiotape after the dispatcher told zimmerman that the police did not need him to follow martin that need. >> i was walking back through to where my car was and he jumped out from the bushes and he said what the [ bleep ] is your problem, homey? and i got my cell phone out to call 911 this time. and i said, hey, man, i don't have a problem. and he goes "now you have a problem" and punched me in the nose. i fell down. >> just judging from zimmerman's own words here, did he start this by following trayvon martin or did martin start it by confronting him on the way back to his truck? diane, let's start with you? >> well, i think that's the $64,000 question, jake. who knows because trayvon martin isn't here to tell us his side of thing. there were eyewitnesses to the actual fight or the aftermath of the fight. but what exactly happened in the beginning, the best evidence that we have is on that 911 tape or nonemergency tape of george zimmerman talking to the police. and

our jim cramer is going to sit down with jamie dimon, jp morgan ceo.quawk on the street" tomorrow at 10:00 a.m. cramer and dimon. that's a must-see. >>> summer travelers should pack plenty of patience. more flights are running late this year than in 2012. the department of transportation says only about 79.4% of domestic flights arrived on time in may, down from 84% the same month last year. phil labeau is in chicago with more on that. hey, phil. >> i get a lot of questions about what airlines tend to do the best, and when you look at the may numbers this is year to date as well. hawaiian led the industry with an on-time rate of 92.4% followed by frontier and delta. american eagle had the poorest performance and then you had frontier and mesa. 79.4% of all flights in the month of may were on time. that's down from a year ago but an increase over april, because remember, you had the sequester delays with the air traffic controllers in april, so there was a bit of a rebound in the month of may. what about mishandled bags? complaints were up in the month

we will hear from jpmorgan chase and jamie dimon will be on the squawk at 10:00 a.m.for us. keith bliss, is this real buying or a short squeeze today. >> this is real buying. bulls are taking control. as we talked about last week, filled had gap from june 24 on the spider and we got above that. once you get above that, you have a bullish posture inside right now. there is a lot of momentum built in. volumes are high are than behave seen with a down draft of the slow melt up. the bulls are taking control and this could sustain itself for quite a while now. >> where are you seeing the most conviction in terms of buyers consistn'tly there. >> across all segments. we had a couple of good signs a couple of sessions ago. with small caps and more discretionary names closed above their all-time highs they setback in may. once you get that momentum built into the market and just a spiralling effect, taking across the entire marketplace. what i wouldn't do now is we are getting up to lofty levels and people say this market is overbought. >> we have been hearing that for a while

and i rent a car have been terminated and retaliation i guess the message is don't mess with jamie dimon and he's feeling a little bit more heat now these days let's talk about gary gensler he was the head of the the f.t.c. at the time he still is and he's another ex goldman sachs guy an inspector general report came out and said that it was not necessary for him to recuse himself and what when he was at the helm of the c.s.c. i think one of the problems was there was a lack of leadership and the inspector general came out and they said he doesn't have to recuse himself is gary gensler. is he that the epitome of the regulator who has not done his job. i mean look i'm no gambler fan just to play devil's advocate once back after him he was kind of damned if he was damned if you know damned well he was all there given his relationship with i feel that if you never accuse him then we'd be talking about how or if i got special treatment because again her was still involved right so i mean we even have a great option there but the timing of his refusal is a bit earlier and that he waited about

needless storage fees in the same city and again saying this in the copper in crude oil thanks to jamie dimon so you can forget and we'll be covering this story in depth with this week today we expose another mysterious event with a former federal reserve economist he was fired from the fed for exposing billions in suspicious cash transfers just prior to nine eleven and courier who will dig into the fine print of gold to educate our beloved chairman about that which he admitted before congress he knows nothing never mind his new york fed holds tons of gold bars on behalf of other countries at least germany things and this saga in detroit continues they are being basically pleaded for a federal bailout citing the beneficial moral hazard this would engender for other struggling that he just and we quote not yet left me behind we're no marie antoinette's but when it comes to hair kind of thirty years seems that we choose the former later in the show and bob wills detroit native and breaking news that producer mary david on this very it failed finally according to the government's latest calculat

charged needless storage fees and the same shenanigans exist in the copper in crude oil thinks of jamie dimon to be forget and will be.

needless storage in the same city and again saying this in the copper in crude oil thanks to jamie dimon so you can forget and we'll be covering this story in depth of this week today we expose another mysterious event with a former federal reserve economist he was fired from the fed for exposing billions in suspicious cash transfers just prior to nine eleven and courier who will dig into the fine print of gold to educate our beloved chairman about that which he admitted before congress he knows nothing never mind his new york fed holds tons of gold bars on behalf of other countries at least germany things and this saga in detroit continues they are being basically pleaded for a federal bailout citing the beneficial moral hazard this would engender for other struggling that he just and we quote not yet let me. we're no marie antoinette's but when it comes to care kind of the it seems that we choose the former later in the show and bob dole's detroit native and breaking news that producer mary david on this show finally according to the government's latest calculation on who's buying and

apocalypse just a sign to they themselves will start killing themselves if they lost a penny going to jamie dimon to say jamie just lost a nickel you put out a gun to blow his head off because to him that's the same thing you know as one of these other people losing their solo losing their lives you know losing their they're. now another nation where you see a lot of young men living with their families for many decades is italy and this is in the news as well regarding this financial war where you must sacrifice somebody must sacrifice for the greater good and in italy it appears to be small private businesses broke italy would love to but can't pay its bills this year so in italy expenditures rose by one point three percent revenue however we weaned flat and so the deficit rose to seven point three percent of g.d.p. up from six point six percent last year but they have a magical way to sort out their master treaty requirements to keep the deficit under three percent basically they have one hundred twenty billion euros that the government owes private contractors and they haven't paid and they c

and hoping that they would scare people they didn't scare people so they're the big boogie man jamie dimon he didn't scare anybody good fricken jack moron so now you're going to stop for good i want to see him raked over the coals and like pour gasoline on the guy just lighted my fire flaming jamie beautiful right now last year you're talking about the central banks are going to take back to the stone age of quantitative easing now here's the question. they mention tapering markets crashed they backed off ben bernanke in his recent testimony said that and i quote or paraphrase i should say he said basically that if in fact we taper if we ease off on the easing the economy crashes is what he said. i think but last year they said that member in fifteen minutes they could raise interest rates and there would be no problem this year is saying if we raise interest rates the economy crashes according to bernanke so they can't then tells me again that they're out of all their tricks there's no more traveling bag they owe they are no more tricks of the bag their own no more tricks of people by tak

bernanke you talk about the mortgage jubilee with economist stephen king later in the show and jamie dimon can't seem to find its share of that isn't about hot seat j.p. morgan is about to shell out a few hundred million and a settlement with the federal energy regulatory commission that would be for allegedly manipulating energy markets in california enron style barclays already settled for four hundred thirty five million dollars and a similar settlement for j.p. morgan what amounts to well just one sixtieth of its twenty six billion dollars in revenues reported last friday no word yet on how much it actually profited from allegedly bilking americans by only subprime is back the consumer financial protection bureau just strengthened mortgage underwriting standards if you don't fund fall under the new rules don't worry that's because the guy who helped write the rules that the c.f.p. be just went private and he started a company that will service the very market his old regulatory body now excludes and yes even providing an interest only financing because it worked out so well in two thou

poetic that he's now losing it sure in the penny stock market now and also for the likes of jamie dimon like blankfein to look into their future he's this guy is like the ghost of christmas future because he's listed as a key advisor in eco's proxy and owed two hundred thirty thousand dollars for work done in two thousand and eleven fold is also mentioned as a potential liability to the company and its disclosure risks given that he quote might attract negative publicity due to lehman's collapse so this guy who used to run lehman brothers is considered a negative. possible downs. to a penny stock company that is a former pole dancing company. and it didn't fall. liability right no longer they could make it as a pole dancer because tiny dick fault obviously would not be the guy you want to see pole dancing and as a penny stock operator is a bust as a wall street titan is a bust he joins the pantheon along with bernie made off and you know that mike milken and all the kind of all star fraudsters in the history of wall street soon to join that group will be jamie diamond and lloyd blankfei

naive and you mention the banks and we have put these human faces on these banks like giant jamie dimonis j.p. morgan john corazon was m.f. global but it did humanizes the entire system to a certain extent i think you write a little bit about that. yes absolutely i mean essentially one of the lines that i like to take on and the biggest to say this is not about personal morality it's about incentives but of the structural level you could take all the parts from the two thousand and seven two thousand and eight drama replace them with other people and run the experiment again they would have behaved in the same ways because a lot of the way the banks were incentivized and until we talk a lot of the core level you're not really talking to problems and how do we tackle this at a core a level what's your prescription for the future well the. to some extent market forces are already taking care of it if you think about it the way the banks made money for the past thirty years was to follow up their trading book take on huge amounts of leverage and run a free option in the public in the form