depending on whether you feel your credit situation is where you want to go to a bank like wells fargo or another regulated bank, and line of credit, or work for a working- capital type of loan, which is something you look to do, the opportunity fund. you probably want to try both avenues. as far as your credit scores, everyone realizes, everyone here has a credit score. the first thing any lender will look at is your credit score. after looking at that, they all do not do the same thing with it. an opportunity fund will look at your story in addition to your score. some are limited to your score, that if it is above or below a certain threshold, and they are may not work with you. not every one of the lenders is going to see your situation the same, so you should be shopping. >> [inaudible] >> you can do contract financing. that exists. but a line of credit is probably what you're looking for. >> thank you, marc. i have a question from the audience about a burgeoning market. any avenues for san francisco medical cannabis dispensaries? open to the panel. >> in terms of financing? i can

and the other child died at wells fargo bank. >>> it could lead to a shakeup at the san francisco fire department. it shows the latter truck striking the motion cyclist. hater he tested aoff the blood alcohol limit. >> i think our crews under the circumstances did the best they possibly could with everything that was going on and testifying that they faced. >> quinn has possible punishment for their response to the crash. >>> the 8th protest over the deadly shooting of andy lopez resulted in the first arrest. he was shot and killed on october 22nd and the deputy said he thought the beebee gun lopez was holding was a real one. they marched downtown and they are calling for the didn't tee. at least 33 break-ins have been reported all over the city. palo alto also talked about smash and break in and one happened in the livermore neighborhood. police say do not leave anything in plainview. >>> the mall -- crowds at the malls may be smaller this year, they may be doing 30% and that's the highest percentage ever. they also are finding more from brick and mortar stores and many are taking adv

. >> reporter: in 2010, wells fargo bank reduced the size of elizabeth's mortgage by $2,000 so she could afford her monthly mortgage payment. >> we're about 1274 right now. >> under ordinary circumstances, her $200,000 mortgage would be taxed for income, and. >> if a creditor forgives your debt and they say, okay, you don't owe this to us anymore t. that's normally taxable income. >> reporter: but for elizabeth and all of those having the size of the mortgage reduced were spared. but president george w. bush signed the mortgage debt relief act in 2007. >> this bill will create a three year window for homeowners to refinance their mortgage and on any debt they may receive. and it's a really good piece of legislation. >> a good piece of legislation that may not be able to help the billions in debt relief provided by jpmorgan. it expires at midnight on december 31, and it could be a nightmare for struggling homeowners. the jpmorgan settlement can't address this problem. while they may be able to afford their mortgage payment, they may be stuck with a tax bill that they can't afford. and it

and wells fargo bank has announced a donation to the relief effort. more and more aid is arrives in tacloban, the city hardest hit by the storm. the airport is barricaded, the families are increasingly desperate. >> we need help. we need help very badly. >> there is looting, and police in tacloban say they have now restored order. but the mayor is calling on people to leave the city because there is so little food or water, just not much there for them. well, the airport in tacloban was mostly destroyed by the typhoon. but flights are taking off from manila, one arriving at san francisco airport. the bay area residents are grateful for the return of their loved ones. wom one woman's electricity was knocked out, but the damage was minimal. >> in tacloban, there was one place wiped out. and the place, you can see there is nothing left behind. >> we prayed that people might -- of course, being hungry, they might rob and kill each other or something like that. >> bay area residents are also booking flights to the philippines so they can take food and aid

. >> a memorial fund has been set up at wells fargo bank for elisha. we will post that on our website at kpix.com. >>> california was on track to have the first high speed rail line in the nation, but it's been far from a smooth ride for the bullet train. now as kpix 5's john ramos tells us, no one knows exactly how much it's going to coast. >> projects are not projects: they start off as vision -- they start offer as visions or big ideas. to think of them as a project is just one. >> this is the chairman of the high speed rail peer reavow group. when he testified a few weeks ago, he made a frank admission about the $58 million' true cost. >> it could be more. it could be less. but what we don't know is exactly what it will cost. >> but that's a big problem for high speed rail because monday a superior court judge ruled that the rail authority cannot spend the $10 billion in bond money raised by proposition 1a until the rest of the funds for the project are identified. >> the judge in this ruling said it's not enough to say where the money might come f

that includes wells fargo, bank of mefshg, american express and papal.nline gambling is legal in nevada and delaware and new jersey is about to become the third state to allow it. visa and mastercard say they allow the transactions w gal but the final decision is left up to the banks that issue their cards. american express bars use of its cards for any gambling. >>> it is not unusual to have a job that has nothing to do with your college major according to a new study. in fact, one-third of college educated workers say they've never found a job related to their major. a new survey from careerbuilder.com finds. the same is true even for seasoned workers defined as those 35 and older, however, the survey also found most workers who went into a new field ended up liking it. the survey included 2100 workers across the country. >>> your holiday feast may cost you a little bit less this thanks giving. the american farm bureau federation says a turkey dinner for family of ten will cost an average of $49.04. that's about 44 cents less than last year. theest mat

he's regional chief investment officer at wells fargo private bank. thanks for joining us tonight. >> thank you. >> are there any head winds that could stop this? six uptakes and we've been through september and october with great gains. where is the weakness in the market? >> i'm not sure you'll see a lot of it. we only have 30 trading days left in calendar year 2013. we'll look into 2014 and as we look into 2014, i think the environment sets up nicely for overall economic growth and descent earnings growth. i'm not sure there are a lot of head winds. certainly on a relative basis to your earlier point and the earlier segment where interest rates are and don't forget cheap inflation or low inflation at today's levels. >> darrell, i would like to follow up on the report from seema where she's talking about the market. at some point the fed will cut back on the stimulus. what companies do you think will be growth winners in that environment and do you agree with stocks she was talking about? >> yeah, as you turn the page into 2014 you have to look at g

a bank like wells fargo, for example, which is the largest sba lender in the country. when the lender makes the loan to you, they come to us and say that your business, for a variety of reasons, may not be strong enough to get a loan without a guarantee. it might be a business that is too young or is a type of business -- say, restaurants -- that are a little riskier than they want to deal with, or you do not have the kind of collateral a lender is looking for. "an sba lender will be able to make the loan with a guarantee that sba will be able to provide. we probably will about 225 sba loans this year. at any point in time, we have about 1500 loans in san francisco that are sba loans. a lot of them are restaurants because that is one of the areas that is very typical because it is a riskier business. but a lot of people in san francisco see that as an opportunity for them as well. we also partner with the golden gate restaurant association to help people understand how to do financing for restaurants. a lot of what we do is helping small businesses get access to credit

you ask bank of america and wells fargo, they are worried.it costs them millions of dollars a minute when websites are down. with all due respect to dr. rid, we have seen the shift from theft to destruction. when you look at the attacks that are going on against wells fargo, bank of america, citibank, these are not attacks to steal money or intellectual property, these are direct attacks specifically for the purpose the gentleman said in the back, which is to shake the confidence of our system. if you think about on any given day, it every bank is bankrupt. if all of us go to the bank tomorrow and take out our money, no bank can withstand that. it is a great question. politics by is another means. it is an act of war. >> another question out here. if not, we will go to one that is coming here. another anonymous. we don't know whether this is the same anonymous or a different anonymous. [laughter] a question for mr. plummer. is the only problem here your company has a chinese name? cisco has been known to help , the build its firewall great wa

. >>> wells fargo, the latest bank to settle government claims over the sale of bad mortgages just ahead of the financial crisis. the san francisco-based bank paid less than $1 billion in penalties in the case. that's a relatively small cost compared to other banks dealing with similar claims. >>> kraft foods is removing the yellow dye in its mac and cheese products that are marketed to kids. it does not affect the plain elbow macaroni and cheese. the company denies the decision has anything to do with a highly-publicized online campaign about the health risks of yellow dyes. instead, a spokeswoman says they're just making the food healthier. >>> expect to see long lines outside the apple stores this morning when the tech giant's new ipad air goes on sale. the full-sized tablet features a 9.7-inch retina display and a faster chip. it weighs just one pound. the price about 500 bucks. >>> also today, i'm not sure about this one. lay's is introducing a solution for those seeking the sweet and the salty. there they are. take a look at this. lay's wavy potato chips dipped in milk chocolate. d

others, what we have seen is the shift from self-destruction and what is going on against wells fargo, bank of america, citibank, each of the attacks to steal money or intellectual property, these are direct attacks specifically for this, which is shaking the confidence of our system and you'd think about it on any given day, all of it, going to the bank, tomorrow to take out money, no bank can withstand that. so it's a great question and that is politics by another means, an act of war. >> if there's no more questions, we will go to one more here. and i'm not a mother that we don't know if it's the same or a different anonymous, a question. if the only problem here is that your company has a chinese name, cisco has been known to help china build its firewalls. and have you thought about changing her name to something else? >> to the first part of the question, i think that the balance of the challenge that we have faced because we have a heritage in china, it is stunning to me at times to explain to someone that it's a 35 billion-dollar company and trusted globally and up to $35 billion, o

moody's confirmed ratings for citigroup, bank of america, state street and wells fargo. moodys says all 8 banks are rated as investment grade and have a stable outlook. president obama is calling on his supporters today. following a rocky start to the massive insurance overhaul, the president said he'll hold a conference call with supporters today to discuss immigration reform, healthcare and more. meanwhile, both sides of the aisle are looking for a fix in light of the recent changes to obamacare. friday, the president met with insurance executives to brainstorm ways to fix the current situation. the president met with insurance executives to brainstorm ways to improve the current situation. " because of choice and competition, a whole lot of americans who've always seen health insurance out of reach are going to be in a position to purchase it. and because of the law, we're also going to be able to provide them help even if they are still having trouble purchasing that insurance. but they've got to know what those options are in order to be successful." also on friday,

she had paperwork that her account was paid in full and bank employees said it was a problem on their end, but wells fargo kept billing her for money she thought she already paid. jenny contacted call for action. here's what our team found. bank employees told jenny she owed just over $1500 to pay off her loan. but that number was too high because those employees failed to account for her pending monthly automatic loan payment. when jenny paid that amount, the bank applied part of her payoff to the loan and without notifying jenny, refunded the difference to her personal checking account. jenny closed her checking account several days later, but she didn't notice the refund. with her checking account closed, but pending automatic payment did not clear. but the bank never told her that they now considered her account delinquent. she found that out when she called to ask the bank. a headache because jenny had been going around in circles. her documents showed the loan was paid in full, yet the banking it wasn't. reported the outstanding payment to the credit agencies. >> this is a stain? >> yes. a stain on

. >> in california wells fargo and u.s. bankoffer loans now california reinvestment coalition is applauding the decision. angel care monsters is recalling 600,000 baby monitors following the deaths of two infants the consumer products safety commission says a cord attached to the sensor pad placed under the crib mattress poses a strangulation risk since children can pull the cords into cribs. the number of popular retailers including babies r us, walmart, amazon.com and overstock consumers should stop using the product and contact the company for a recall. we have a list of the models recalled. you can check them on our web site. >> governor brown released new rules regarding harmful chemicals in home furnishing. manufactures will no longer need to use toxic flame retardants to resist fire. studies found children have absorbed more flame retardants than their parents. >> thank you. >> sure. >> coming up next, sounding off. the problem sausalito residents have with tour bus that bring money-spending visitors to town. >> we're liv

banks. wells fargo is number one on the list followed by , coca-cola, ibm, american express, procter & gamble, walmart, exxon mobile, us bancorp, direct tv, and goldman sachs. ninety-five billion dollars in aircraft orders for boeing.not a bad start for the first day of the dubai air show.boeing's triple-7 x is the sought-after aircraft.but where it'll be built is the subject of our cover story. machinists in washington state rejected a boeing contract to build the triple-7 x, a more fuel-efficient update of boeing's triple-7 airliner. in a devisive vote that pitted job security versus take-aways, machinists weighed. whether having their pensions frozen and time to reach top scale extended from six-years to-16 years...was worth steady work for eight years. in a vote affecting 32-thousand workers-- they told boeing, "no deal." "it was draconian. they went for the whole magilla. they should have negotiated in exchange for job security." the vote has opened a door for other communities eager for the chance at landing a big boeing contract. an official from savanah, georgia where general dynamics

. >>> wells fargo, the latest bank to settle government claims just ahead of the financial crisis.ncisco-based bank paid less than $1 billion in penalties in the case. that's a small cost compared to other banks dealing with similar claims. >>> kraft foods is removing the yellow dye in its mac and cheese products that are marketed to kids. it does not affect the plain elbow macaroni and cheese. instead, a spokeswoman says they're just making the food healthier. >>> expect to see long lines outside the apple stores this morning when the tech giant's new ipad air goes on sale. the tablet features a 9.7-inch retina display and a faster chip. it weighs just one pound. the price about 500 bucks. >>> also today, i'm not sure about this one. lay's is introducing a solution for those seeking the sweet and the salty. there they are. lay's wavey potato chips in milk chocolate. they won't be in stores inle next week. >> that sounds really you don't like the idea? >> no, no. >> try it. i'm telling you. come over to the dark side. >> chocolate-covered pretzel. >> chocolate-covered anything. >>>

>> a dramatic holdup inside a wells fargo bank in pennsylvania is caught on camera.weapons drawn. they stole cash before they got away. police say ski masks covered most of their faces. they are still on the run this morning. pennsylvania police need your help. a week after new york city police commissioner was shouted down by protesters at brown university, an investigation by that university is now underway. [inaudible] [inaudible] [chanting] >> the school is appointing a committee to look into the rowdy demonstrations to determine if anyone should be punished. in the meantime ray kelly may have lined up a new job. "the new york post" reported today that he's in talks to take the top security role at j.p. morgan chase before mayor michael bloomberg leaves office. there was an election today, a new mayor coming in to new york city. the police department is denying that ray kelly will move to j.p. morgan. >>> some students in vermont aren't going to be going footloose any time soon because the school banned dances for a year. the school principal says dancing is gett

economy of too big to jail problem as one of the major money center banks like city bank, bank of america, wells fargojp morgan would. if you had one of those banks charged criminally it would limit their ability to transact business and have massive lay offs and a real problem for the economy. >> the fines topped the 157 million dollars that the hedge fund was ordered to pay and he is also serving a 11-year prison sentence. charges against coen are still possible and al jazeera new york. >> it's time for a short break on the news hour and when we come back. >> crime here is sky high and will i raise two criminals? no, i don't think so. this is the time to leave. >> more islands seek a better life in the united states and we will tell you how one nfl team is beating allegations of bullying and they are seeking help and more on that, stay with us. ♪ welcome back, a quick update on a story we reported on earlier, in the united states the suspected gunman during a shooting in new jersey has shot himself and after reports of a gunman firing inside and police say there were though other injuries. here is h

regional investment officer at wells fargo bank and steven ruschiotto. thank you for coming in. darryl, why don't we start talking about what you think is going to be happening. there are some questions. stocks have hit new highs. you have goldman sachs concerned about the potential for a 10% pull back. what do you think? >> obviously a big move since the october 9th lows. we've come off of a 10% gain. there have been ten caps that have added a quarter of a percent of that rally. it's been a breadthth across the names. >> not always the best quality. >> there's a megacap. >> heavily shorted. people don't like them as much. >> so we don't see any big barriers to this market towards year end, becky. i think when you look at 2013, it will go down as a story of rerating the forward p.e. ratios, right? we came in 13.2 for forward earnings for 2013. this year we're walking in at 2014 at 15.8 for forward earnings. things are richer than they were at this time last year. >> that was part of goldman's point. they were concerned that p.e. ratios are not going to improve as we head into th

do something to prevent a systemic breathdown -- breakdown and jp morgan took over those banks just like wells fargo -- >> can you just say is that a good thing or a bad thing? [laughter] >> jon: and make it snappy, nerd! [laughter] we don't have all day. well, actually we do literally have all day 24 hours 7 days a week. but still good or bad! and wear a tie! [laughter] now watch wolf blitzer. take an analyst making a nuanced argument about the balance in this country between liberty and security. watch blitzer take this cat to j school. >> after 9/11 i think the american people gave the executive branch extraordinary leeway to sort of keep. >> is that good or sphwhad. >> think ultimately it's a good thing. >> jon: it's just not -- good or sphwhad can't believe this dude let himself get blitzed so quickly. let's michel bachman show you how it's done in the timely affordable care act. >> let's go through the points tell me if it's good or bad. is it good or bad that children can be on their parents health insurance policies until they reach 26. >> these are biftz done now. >> but that's part of obam

pose the same risk to the economy as a too big to jail problem as go the city bank or bank of america or wells fargo or jp. mor morgan would. if you had one of those banks charged criminally it would limit their ain' ability to trat business and they would have massive lay-offs and it would hurt the economy. raj is also serving an 11 year prison se sentence. prison charges against cohen are still possible. >> and the sec capital fine was not the only big settlement announced today. johnson & johnson was accused of paying kickbacks to doctors and a for pharmaceutical provider ad marketing drugs that are not approved by regulators. >> so michael eaves joins us with sports to talk about alarming allegations about a n.f.l. player. miami dolphins ritchie incould gincognitois facing further dise after the team suspended him. hfollowing allegations that he pullied martin. martin left the team last week for an indea indefinite period r an altercation in the team's lunch-room. >> in baseball the san francisco giants and oakland ace may a's e use of the stadium. but the all. 'a's owners say the teamwill exk f

td bank, bank of america and wells fargo are all offering mortgages with as little as 5% down.the changeof heart can be attributed to market conditions -- risng home prices mean the banks are taking less of a gamble. just ahead-- the stock market has been a stunner this year. but trader alan knuckman has uncovered a stoc k he says could run higher to catch up. chart talk is next alan knuckman joins us now to talk about the strength of this market. good morning to you alan. > > good morning angie. > > just how far have we come? it has been a fast ride. yes it definitely has, the nasdaq has been leading the way. were up 30% for the year and as you may know there's going to be the twitter ipo so all eyes are on tech. > > alright so let's talk about some stocks that have not participated in the rally. > > right that's the thing that mentioned a couple weeks back it's again the theme some stocks who haven't played ball yet. if you look at emc, emc is about 12% off the peak right now and the stock has been trading between 22 and 27 and right now we're seeing about 23 1/2. now it's bounced off

. >> before mortgages were reduced, by december 31st, banking in this country is not just about huge institutions like jb morgan or wells fargo and other caught up in the fail. there are thousands of smaller american banks that serve people and especially businesses that don't necessarily fit the cookie cutter mold of big institutions. i'm talking about community banks. hundreds of which did in fact fail during the financial melt down. >> as patricia sabga reports, new rules and changing landscape for banking. >> this town needs this me reply one horse institution only to have someplace people can come without crawling to potter. >> in it's a wonderful life, community banks still play a vital role in the nation's economy. providing loans to small businesses and farms and individuals whose needs and profiles don't always fit the rigid criteria of big banks. >> rural areas are especially important areas served by community banks, especially smaller community banks because those are the areas that large banks either don't want to serve or are pulling back from serving. >> typically defined as banks with less than $1 billion in a

slowly but surely, banks are taking the hint. wells fargoecently installed a financial education portal for consumers to find answers to frequently asked questions. jpmorgan chase as a financial lie bare. bank of america commissioned its own study for 78% of respondents said learning about personal finance is hard. now the banks try to make that a bit easier, setting up the first financial education platform. no mention of its own products and digital educator of the renowned khan academy as a partner. the result, better money habits.com, where a video series walks through everything from adjustable rate mortgages, to tax deductions, and everyday lessons often forgotten, small steps for an industry failing the grade on financial literacy, consumers still have to do their homework. for "nightly business report," i'm kayla toushy. >>> it is rivalry weekend in college football, so that means millions of people will be glued to their tv sets, but as jane wells tells us, one legendary coach is hoping to change the way fans watch. using what's kno

billion worth of settlements and that includes $45 billion from bank of america, $26 billion from jpmorgan, and $9 billion from wells fargo. attorney general eric holder has indicated, though, the government's investigations into the other big banks over similar concerns is far from over. >>> the supreme court has gelt a blow to opponents of texas' new abortion law. in a 5-4 decision, the court ruled the state can continue to enforce the restrictions. that includes a requirement that doctors who perform abortions in clinics must have admitting privileges at a nearby hospital. critics say the ruling has affected more than a third of the state's abortion clinics. wendy davis drew nationwide attention for her ten hour filibuster back in june. in a statement, she writes in part, this is an abuse of power by politicians in austin. i trust women to make their own decisions and will continue to work to make sure that women and mothers are safe and have access to adequate health care. republican governor rick perry praised the ruling say, quote, this is good news for the unborn and the women of texas who are now better protected

. >>> wells fargo paid $335 million to settle a lawsuit over risky mortgage back securities. the san francisco bank outlined the payout if a regulatory filing. the money results claims that wells fargo misled fannie mae and others about mortgages. >>> and smith will take the field some sunday, he's face the star quarterback cam newton. >>> and now gasia is in the news room with a look on what's coming up on tv 36. >>> tonight we've been looking into what experts say is a long term increase in the number of vehicle fires. just last week, a car fire forced drivers to abandon their cars. now beef learned some of the choices you make may be putting you at risk. join us for a live report coming up at 7:00 on tv 36. [ male announcer ] you can change your tomorrow if you do something today. and there's never been a better time because this year, devry university has $45 million dollars in need and merit-based scholarships and grants available to those who qualify. and this degree can make a difference. in 2012, 90% of devry university grads actively seeking employment had careers in their field within 6 m

bank and wells fargo have moved away from much higher down payments.t, buyers needs as much as 20% down or they had to turn to the federal housing administration for a low down payment loan. >> that's great news. >>> finally here, i love to talk food. we're talking brownies and snacks, right? >> did you bring some? >> not this time. next time for sure. let's talk burger. the burger wars are heating up again. burger king says its big king will become a permanent part of its menu. the big king competes head to head by mcdonald's big mac. it was introduced briefly in 1997, but now it looks and tastes a lot more like a big mac. according to "the wall street journal" the two burgers are similar in calorie count. the big king has 510 calories. the big mac has 550. mcdonald's reacted to the new burger by saying we're focused on our business and customers. i'm sad that miguel is not here right now because we have this east coast/west coast things going on here. we have those shake shack burgers here. on our side, they have, in and out? we got do do a taste tes

melissa: you say who is on the hook, bank of america, wells fargo, they are out with 5% down.eason why with they're able to do this which means it is backed by the government and backed by you and me and everyone in our audience. >> in many cases yes. the larger jumbo loans do not carry a government guaranty, in cases like this underwrite something more stringent. you have to be existing customer the bank to even qualify. even now lenders are not looking to take a whole lot of credit risk or put a whole lot of risk on the books. instead of plunging into the deepened of the pool, they're dipping their toe into the shallow end with customers they know and people with higher net worth, low incomes, debt ratios. dotting every t on the underwriting. they don't want to be on the hook lateer. >> who is eligible? sound like if you have a relationship with the bank you can get in on it. td bank is always looking for more customers. seems like it may not be that hard to get this done? >> at this point it is still pretty selective? as sometime goes on it will be more widely available, in

smart banks will look to cut costs as they have. wells fargo. jpmorgan cutting in terms of mortgage workers. bank of america another 3,000 next year. the banks are finding ways to remain profitable in terms of those large financials at this stage. >> we'll leave it there. we want to check out retail, everybody. thank you so much for joining us. gap earnings are out. courtney reagan with the numbers. >> gap reporting the results for the third quarter. it looks like the earnings per share beat the street's expectations by about a penny at 72 cents per share. revenue in line with expectations at 3.98 billion. we already got a glimpse into the same store sales number with the october number. for the quarter, same store sales up 1%. that marks the seventh consecutive quarter of same store sales growth. the company's ceo glen murphy saying he's pleased that they are maintaining the momentum of growing sales. that's pretty much the only commentary there. gap also reaffirming the guidance. it is, however, below what analysts are expecting for the full ye

i want to get more reaction with the man who once led wells fargo as chairman and ceo, knows a little about bankingmuch for being here. welcome. >> thank you, kelly. >> wanted to ask you right off the bat about this. if the fed were to cut interest on its reserves should people more or less be pushed out of cash to help the xli? >> i think that might happen. it's a mistake. we certainly don't want the saver to be taking on more risk than they already are taking if they're in the stock market or other things. and even more importantly, it won't have any benefit. a years ago credit was tight. businesses had a hard time finding loans. that is not the case today. i don't know of any credit-worthy business that not only -- that can't get a loan today but, quite frankly, probably has two or three banks calling on them asking to reduce their rate and loosen their covenants if they will do business with them. >> it's an interesting point. >> i don't think it will have any positive impact at all. that's not true however, of the consumer. the problem with the consumer is the fact that because of the dodd/fra

it allowed but now banks alike t-d bank, bank of america and wells fargo are loosening the purse stringsthat a. at >> alice say banks are taking advantage of a growing market of home sales picked back up, and more potential buyers entered the market. >> we are attracting multiple hot spots right now as a major problems. here we have a trucks that overturn a hot truck a dump truck carrying a load of dirt and gravel 20 bay goals vehicles have been struck was down on how we 24 we have reports of multiple lanes blocked and multiple vehicles having overturned here on westbound highway 24. and i'd the chp again three to four lanes have been shut down this is one to jam up the ride on 13, all two to four and again this was. what we continue to have problems on the nimitz freeway with a number of accidents northbound and southbound still jamming of the ride. >> what are jammed in and out of sentence is the with a big rig no. now one the bayshore freeway met at the candlestick on route to the bayshore freeway appeared >> that has block of the traffic heading south out of the city and back up the

economy of too big to jail problem, as one of the major money center banks, like city bank, bank of america, wells fargo those banks charged criminally, it would limit their ability to transact business and you'd have massive layoffs, you'd have a real problem for the economy. >> the fines top the $157 million hedge fund manager was ordered to pay, but he is also serving an 11 year prison sentence. prosecutors say criminal charges against cohen are still possible. aljazeera, new york. >> cohen has denied any wrongdoing in the matter. >> coming up, voters across the country heading to the polls today. >> in one state, residents will cast ballots on a special issue. >> why they want to a secede and create to new state. >> the parents of a california teen who was killed while holding a toy gun filing suit against the deputy who fired the fatal shots. >> i'm john henry smith. an injury on monday night football could shake the playoff race, ahead in sports. [[voiceover]] every day, events sweep across our country. and with them, a storm of views. how can you fully understand the impact unless you've heard an

banks. every time they issue these crowd-pleasing cds and use the money to buy treasuries. we know wells fargo, they are gloomsters. hey, guys at wells, stop it already. you're starting to really make me unhappy. the banks make the best kinds of money on cds and fees. they have no risk and a ton of reward. that's why every time the interest rates go higher the bank stocks go higher better the actual margins of the banks are going higher just from the layoffs, frankly. that's not the way you want to make money, but it will happen. getting the financials in the plus column is fabulous news because it's the biggest and most important to the market. fifth, finally, our twitter hangover finally seems to have run its course, thank heavens. the pressure on zillow, linkedin and yelp and trulia, including facebook has been so powerful over the last week that we lost a group which had been sbreg integral to the success of the overall market. i think these stocks are now are bouncing back, including, yes, the aforementioned linkedin which many people booed after that last quarter. and i believe that guid

bank stobs stocks. if you think this is the temporary plate, you have bofa, wells fargo and -- >> did you ever hear of these banks that sold mortgages that were valued far in excess of what the people's home were valued at. i had to even think about that to figure out how they got to that. they sold the mortgages before the housing bubble burst, so -- at the time, that was was the houses were. >> a lot of them had mortgages they couldn't keep up with. maybe they had balloon rates or other issues. but jpmorgan knitted criminal wrongdoing. >> if you twist someone's arm enough, they will say uncle. >> they basically admitted to a list of facts which was somewhat different than a true -- >> there's a lot of nuance in this. >> this is clearly, as we all know, a highly negotiated -- >> exactly. and when you're negotiating with the government, i suggest that you say yes, sir, thank you, may i have another or else you're going to get more than just one more. >> but it does give a lot of fodder to the critics. >> the critics don't need additional fodder. when you have people outside the capital with -- you know, you

fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certified cdfi, so we are providing a benefit to low and moderate-income communities. he is the city establishing support for n

fargo up about 36%. and then pnc financial one of the regional banks in the u.s. up 39%.sometimes if you look hard enough, there are ways to find market turns without many of the ups and downs. >> we've got wall street's biggest brains here to discuss. jpmorgan funds david kelly and cnbc michael farr. michael, what do you reckon, borrowing but sexy or something else? >> i am so thrilled that boring might be the new sexy. i'm a 52-year-old conservative portfolio manager. >> you are sexual all over again, michael. >> this is the best news i've heard all day. thank you. you know, i think that -- i've been -- i like these boring stocks for a long time. mandy, and certainly been criticized in some of the more go-go periods. but as the risk trade may be coming off, and the market up over 160, 170% since the february 2009 lows, you know, the rule is buy low, this is not low. know what you own and the boring stocks are understandable, good solid balance sheets, dividends, solid earnings, good cash flow and well managed. playing defense really makes sense, but you're also going to