the only way is to win the lottery. >> wells fargo, i like this trade a lot in wells fargo. bank of america really needed to do this deal. they would have sere us problems with t.a.r.p. it looks like it was influencing the management of the company, what they could pay their executives. it was in a stronger position at the beginning of the year. it was already better off. >> that's one reason i like this trade. it's been a laggard, okay? it hasn't participated. >> these stocks are 15% off their 52-week highs. it may start to -- i really like risk reversals in general. it's not free. it is going to eat up some margin, and you can't forget that. but it's important to remember that wells fargo is probably the best name left of the second tf tier names that hasn't raised any money. one thing, bank of america supposedly had six people turn them down for the ceo job. wells fargo has a ceo, but they may have trouble filling the roster a little bit below ceo if they can only pay $500,000 a year. >> interesting note there. check out our web extra exclusive trade on citi. >> options t

wells fargo advisors. together we'll go far. ♪ >>> the whole idea is to shoot those as soon as possible and the strategy -- >> kasab's capture had been reported on tv. now his masters wanted him back. the gunmen inside nariman house forced one of the hostages to call the israeli consulate. then they made her speak to brother wasi in pakistan. >> brother wasi had promised norma he would release her and the other hostage in exchange for kasab. >> brother wasi briefed the gunman on what to say to the indian government. he warned him not to let slip that the rabbi and his wife had already been murdered. >> as the terrorists waited for the indian government to call, the holtzbergs 2-year-old son wandered among the bodies, including those of his mother and father. the little boy's nanny, who had hidden inside the house overnight later snatched him and escaped. after much delay, 400 commandos had arrived from delhi to take over the security operation. they began to engage the terrorists. on the 18th floor of the

she's been at wells fargo for 14 years. before then she was an examiner for the federal home loan bank of san francisco, and before that she earned an mba from the university of california at berkeley. so cutler and erin were very pleased that you both could join us. now, what we're going to do for the remainder of the session is what going to try to have a conversation that you participate in. i have a few questions, which i'm going to put out there, but we will go into this conversation where the panelist what you would essentially like it to go. but i thought we would start by asking them for their view, their perception about the whole industry. credit union industry, the banking industry and how basically most banks and credit unions regard savings accounts. how they have regarded savings accounts and include a discussion today really market these accounts thursday and if they don't, why not. cutler, would you like to start? >> erin and i made a command decision that i would go first to let ask you a question first. ho

wells fargo now is the only national bank that has not yet paid back its bailout money. >> woodruff: we take a closer look at what happened in today's meeting with the president and bankers. valerie jarrett is a senior adviser to the president. she participated and joins us now from the white house briefing room.+x- ood to see you, thank you for being with us. >> how are you, good evening. >> woodruff: first of all the president had really tough words for the bankers over the past few day, how did the meetings go? >> i think it was a very constructive and productive meeting. yes, he did have some tough words but he also said to them look, the way back to recovery is with your help. we need you rit there at the table working with us hand and glove and on the four key topics that he addressed at the meeting, i think that we saw that there was a lot of alignment in terms of lending. the banks did agree they would try to beef up their small business lending. that they are going to take a look at loans they have rejected and see if they can give them another chance f they are actually goo

ac, freddie mac, one west, chase, wells fargo, we've got american homes, hsbc -- again, every one of the major servicers of the country and every one of the major investors in the country we have a legally binding agreement. there's only two real solutions out there. one is to restructure the mortgage for someone with a stable income to make a mortgage affordable, not to refinance, to restructure by permanently reducing the interest rate or the outstanding principal and make it affordable. and i say permanent. that means not a free set in five years to make the payment affordable. and we agree with what laura and some of the other people from the panel say. we should do more principle reductions so you can keep the interest rate at the market rate, make it affordable by doing principal reduction that clearly hasn't happened. when you do the other option is when someone does not have stable income because they are unemployed is a forbearance agreement and lenders have been doing for parents agreements for

ac, freddie mac, one west, chase, wells fargo, we've got american homes, hsbc -- again, every one of the major servicers of the country and every one of the major investors in the country we have a legally binding agreement. there's only two real solutions out there. one is to restructure the mortgage for someone with a stable income to make a mortgage affordable, not to refinance, to restructure by permanently reducing the interest rate or the outstanding principal and make it affordable. and i say permanent. that means not a free set in five years to make the payment affordable. and we agree with what laura and some of the other people from the panel say. we should do more principle reductions so you can keep the interest rate at the market rate, make it affordable by doing principal reduction that clearly hasn't happened. when you do the other option is when someone does not have stable income because they are unemployed is a forbearance agreement and lenders have been doing for parents agreements for

wes fargo now is the only nation bank that has not yet paid back its bailout mone >> woodruf we take a closer look at what happened inoday's meeting wi the president and bankers. valerie rrett is a senior adviser to the president. she paicipated and joins us now from the white house briefing roo+x- ood to see you, thank you for being with us. how are you, good evening. >> woodruff: first of al thpresident had really tough wos for the bankers over t past few day, how did thmeetings go? >> i think iwas a very nstructive and productive meeting. yes, he d have some tough words but he alssaid to them look, the way bk to recovery iwith your help. we neeyou rit there at the table working with us nd and glovand on the four key topics tt he addressed at the meeting, i think at we saw that there was a lot of alignment in terms lending. the bas did agree they wod try to beef up their sml business lending. thathey are going to take a look aloans they have rected and see if they can give them another chance f they are actually good loans. he ask them also to take a hard looat their executive comp

wells fargo has been putting our clients first.dependent research firm, in 2009, clients rated wells fargo advisors the #1 u.s. investment firm for doing what's best for them. with advisors nearby and nationwide, we're with you when you need advice and planning expertise to meet today's challenges. wells fargo advisors. together we'll go far. ♪ so i couldn't always do what i wanted to do. but 5 minutes ago i took symbicort and symbicort is already helping significantly improve my lung function. so today, i've noticed a significant difference in my breathing and i'm doing more of what i want to do. so we're clear, it doesn't replace a rescue inhaler for sudden symptoms. my doctor said symbicort is for copd, including chronic bronchitis and emphysema. it should not be taken more than twice a day. symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking it. my copd often meant i had to wait to do what i wanted to do. no

wells fargo advisors.reaking news on health care reform. key democratic senators say they have reached a deal on health care, dropping the public option. we'll have the details and the raw politics ahead. >>> a massive airport security breach. a tsa security manual posted online is practically a blueprint for terror. how could it happen? we'll tell you that ahead. and a "360" investigation. a woman commits suicide at a james arthur ray spiritual retreat. remember the guy who had three people die in a sweat lodge. did ray try to cover up this death? we're keeping them honest. those stories and why sarah palin says president obama should boycott the climate meeting in copenhagen ahead on "360," tonight. >> larry: we're back and we have an e-mail question from brooke in west palm beach, florida. she asks, if you could pick one fine that you think best defines the jackson five as a group, what would it be and why? we'll start with marlon. >> i would paycheck "2300 jackson street." >> come on. >> come on. that'

wells fargo advisors.ether we'll go far. ♪ >> larry: more about the milton hershey school later. some other subjects with queen latifah. you're a big supporter of president obama. you were at the inauguration. >> yeah. >> larry: how do you think he's doing? >> i sure was. i think he's doing pretty good. this is his first year. he's trying to accomplish a lot, but i do like the way we look around the world again. i do think he's trying to extend himself and make america what it is supposed to be in the eyes of the world. we are a globe afterall, and we are not just america, but at the same time, i think -- i think he's done a good job representing america. i was really proud of him. unfortunately, it was at the ft. hood memorial, and i was very proud to hear him stand up and say words that really made me feel like an american and like -- made me feel part of this tragedy. made me feel like he really cares about our armed forces and he would deliberate so long before he sent them into ham's way. nobody will

wells fargo advisors.ogether we'll go far. ♪ because we believe in the strength of american businesses. ge capital understands what small businesses need to grow and create jobs. today, over 300,000 businesses rely on ge capital for the critical financing they need to help get our economy back on track. the american renewal is happening. right now. bonus on every single purchase. what you do with it is up to you. what will you get back with your cash back? now more than ever, it pays to discover. >> larry: we're back with edda mellas and curt knox. didn't the prosecution assert that amanda's dna was on the handle of the kitchen knife used to kill meredith? and meredith's dna was on the blade. isn't that true, edda? >> you know, well, no, they found a knife in rafael's house. it's yes and no, and there was amanda's dna on the handle and that's because she actually cooked meals there. the speck of dna that was about a human cell that they found on the blade is highly controversial. it's what they call low co

. >> wells fargo and l.a., wells fargo bank is the largest bank within the bank, a 600 billion-dollar bank, about $40 billion. they donate about $12 billion back into the local community. it is the most profitable bank within the bank so the more they give the more they get, so we are not talking about kumbaya. >> that is true bark companies too. lamps the's companies thrived because of their generosity for the most part. home depot group because it got involved in this community and they won over the market but go ahead. you have not said anything. >> my job is to moderate. [laughter] but now that you have given me the floor, you know i think your point about job creation coming from small business is right on because that is the history in this country, and then you read john's book. john, he is an unusual sort of fellow. when you read this book everytime you turn the page he is taking a risk. but the world is in full of people who take risks, especially right now. we are quite risk-averse so how do we get people to take those risks, to create this growth in the economy that you wer

wells fargo plans to repay the government $25 billion after issuing $10.4 billion in stock and sellingt orchard, washington, cheryl on the public mind. the most impressive political figure. caller: i would say our president because he is able to convince people unfortunately that he inherited all of this from the last eight years when in fact if more people understood 6 and what has been going on, they watch c-span of the mark, they would know that and 2006 the democrats started making the budget and they were standing law -- spending like crazy. we got rid of the republicans. we voted them out. so we let the democrats take control and this is what we have pared i would have to say -- this is what we have. i would have to say president obama and we can thank our ignorance for that. host: thomas from ohio. caller: my voice is for ron paul, a great man, great american. i love c-span. i watch you for my news every day. i don't watch any other news except c-span because they let americans have a voice. i appreciate greta and all the announcers at c-span. they are all good people. again, pe

among them, have american express, jpmorgan tase, capital one, wells fargo and others. also, rahm emanuel, larry summers and timothy geithner expected to be there. here's a preview of that meeting. journal" continues. host: we're joined by eamon javers. facing what else pressured to increase lending. in a meeting financiers will tell obama they're ready to step up to promote recovery in additional steps. what is the president going to tell them? guest: that they need to be lending to lend to credit- worthy businesses. these are the job creation engines of the u.s. economy. they can i give credit to expand and grow because the banks are so frightened by the global economic meltdown last year that they are unwilling to loosen standards. the banker is going into the meeting arcana caught in between. on the one hand, the white house is telling them to lend more, and on the other their bar regulators tell them to lend less. be careful you are not lending to those who cannot afford to pay back loans. that is what got us into all this trouble in the subprime mortgage meltdown.

and the biggest perpetrators of this disaster, bank of america, citigroup, wells fargo and goldman sachs have gone from controlling 30% of all deposits in this country to 40% now. the big five are eating us up and taking bigger bonuses, too. it estimated they will reward themselves with $145 billion in bonuses this year. credit remains frozen across this country seizing up economic recovery and this bill calls itself the wall street reform bill. this bill will not meet the serious challenges crippling our financial system and will not give a good signal to the future. congress said the tarp bailout would save us from depression, but tarp passed and the american people went into depression, only the big banks were saved. the bills passed by congress to date protect wall street and their shareholders, main street pays the price. is this bill a reform bill, no? it will not break up the big banks or create a strong independent financial institution regulatory agency and will not separate speculation from investment activity. it will not require loan workouts to stem foreclosures. it will rec

the aspen institute 3 he served on the board of a bank and currently serves on the board of wells fargo you for coming and i would first recognize mrs. bourne and then go down the line 3 and you are recognized for as much time as he may consume. [inaudible] [inaudible] congress passed a statute in 2000 that eliminated virtually all regulation of the over-the- counter derivatives. it was called a modernization that. because of that statute, the federal or state regulators currently has oversight responsibilities or regulatory powers over this market. the market is totally opaque and is often referred to as the dark the market. it is enormous. in june of this year, the reported size of the market exceeded $600 trillion in value. while over-the-counter derivatives have been justified as vehicles to manage financial risk, they have not practiced, spread, and multiplied -- they have in practice bread and multiplied risk throughout the economy. lack of transparency and price, excessive leverage come rapid speculation, lack of adequate capital and provincial controls, and a web of interconnect

ac, freddie mac, one west, chase, wells fargo, we've got american homes, hsbc -- again, every one ofs in the country we have a legally binding agreement. there's only two real solutions out there. one is to restructure the mortgage for someone with a stable income to make a mortgage affordable, not to refinance, to restructure by permanently reducing the interest rate or the outstanding principal and make it affordable. and i say permanent. that means not a free set in five years to make the payment affordable. and we agree with what laura and some of the other people from the panel say. we should do more principle reductions so you can keep the interest rate at the market rate, make it affordable by doing principal reduction that clearly hasn't happened. when you do the other option is when someone does not have stable income because they are unemployed is a forbearance agreement and lenders have been doing for parents agreements for many years and continue to do that. certainly we have homeowners here and some of them, dena holmes in the audience as well as paul roberts, dena went

the heads of american express, jpmorgan chase, wells fargo, and capital one.long with administration officials from the white house. the white house chief of staff and the advisers and the treasury secretary among others. coming up in a couple of minutes, the president is expected to make a statement regarding the economy. we'll have that live for you on our companion network, c-span2. keep up with the latest on the senate health care bill. watch live coverage on our companion network, c-span2, the only network with the full debate and edited in commercial free, with the bids for reporters and editors of the congressional quarterly roll call group. for iphone users, follow the debate with the c-span radio iphone application. it is free. you can listen to c-span, c- span2, and c-span radio. find out more at c-span's health care hub. looking at the u.s. capitol where both the house and senate will gavel in for work today, the house coming in at 12:30 p.m. eastern with general speeches. legislative work will start at 2:00 p.m. among bills, one managing federal gr

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