they're all goldman sachs alums. the bill back to goldman sachs. they go back into government. -- they all go back to goldman sachs. they go back into government. it is a white house issued. >> this goes back to the media in a way. i will go back to goldman sachs if i must. remember in august when there were about 1200 people doing civil disobedience around the white house protesting the keystone pipeline. the corporate mainstream media was like this on that. imagine if 1200 tea party members hitched themselves to the date of the white house. when occupy launched in september in new york and then moved across the country, suddenly there was more attention being paid to other movements. it exposed how the media has done such a disservice to this country in the last few years by saying there was one movement in this country, the tea party. there are many other movements. the occupy wall street movement has brought into sharper relief and force the media to pay attention to other issues and movements. i could take off 10 or 15. -- tick off to enter 15

goldman sachs adding .3%. and stuart kirk with us. what is accounting for the move in jpm today? we heard that it sounds like goldman's going to have the banner quarter. >> yeah. i mean the fourth quarter's always tricky because it's generally weak for investment banking. and these stocks have moved extremely well last year. they are some of the best performing sectors in 2012. so the question people ask is, can we see anything from the fourth quarter that will tell us what the environment in 2013 is like. i guess my answer to that would still be no. fiscal cliff issues, europe, the election, tropical storms, et cetera, and there's still no real clarity on what the business models, investment banking are going to look like as we head toward three. it's going to be much better numbers than a year ago. numbers are going to be slightly down versus the third quarter. and -- to my mind, there's still really nothing we'll be able to take away from the numbers in terms of -- >> which is frustrating because we're at a time when we are trying to re-evaluate what the model is going to be, w

and goldman sachs as the stocks performed well as a result. for jp and some analysts seeing going down for goldman through the year. not easy for the banks to put on quality assets. this in a way is what the fed wants. volume last year was refinancing, not really driving new home sales. if you're jpmorgan, you haven't really sent a lot of mail out, trying to retain the customers you have and trying to generate as much non-interest you can as with most banks. portfolios only go down so much. we're at the end of that trade. next quarter, where do you get that earnings number if you don't have strong revenue. >> all that being said, where does that leave you with stock? >> i don't make stock recommendations, i'm a banker. >> jpmorgan tried to increase their business, their volume is up 9%, if that means anything to you and secondly on corporate investment banking they keep putting more assets under custody 8$8.8 trillion. it's all moved there. >> definitely, private banking, trust side, a long source of growth, non-interest income. very important

should you seek out the stock in the google trade coming up. >>> also, is goldman sachs risking further damage to its brand? the investment bank's board accelerated compensation to save top executives millions in taxes before the fiscal cliff. we'll have a goldman debate on that coming up. >>> and later, from mcdreamy to mcsteamy. actor patrick dempsey beating out starbucks to buy a struggling seattle coffee chain. jane wells has that story, talking about the coffee, coming up in the back half of the show. ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> goldman sachs likes to say it's in the risk management business, but did it r

morgan more than goldman sachs. >> fair enough. matt, thanks a million.d to see you. >>> ty, over to you. >> reaction to the president's gun proposals. and debt talks. we will tackle those when we come back. plus plus, an exclusive with the ceo of lululemon. find out what the retailer is doing to take advantage of changes. with the spark cash card from capital one, olaf gets great rewards for his small business! pizza! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? a showdown over the debt ceiling with republicans using the threat of default to try and leverage spending cuts from the white house. representative peter welch is democrat from vermont and he has been calling for the president to envoc the 14th amendment to ci

goldman sachs you had it out with j.p. morgan. you basically can say you don't take any risk because you're flat and the more business you do because you get paid a percentage of the volume you do then that there will be all you need to do is do as much volume as you can and it becomes a volume business rather than a risk business ok let me jump in there if it's a volume business and not a risk and reward business then that and we understand then why there's an emphasis on things like high frequency trading and algorithmic trading because you just pushing volume through the system to make the commissions to make those spreads but you're doing so riskless slee and you're actually destroying liquidity and destroying the markets in a lot of way because in a real buyer seller shows up there's no real counter party to take that trade you end up again returning to the ash or ask like hola graham that are these markets where capitalism is dying but jamie diamond j.p. morgan goldman sachs are the royal bank of scotland barclays are siphon

morgan and goldman sachs and they just fill in a lot of trains to get to a pre-determined price that some of these banks continue to make record profits they're not taking any risk and that's a key difference as you pointed out the beginning with this new version of pseudo capitalism where banks take no risk they just take all the reward and they use computers to pick prices ahead of time and then fill in all the trades to make it look as though there was some market activity to get to that price but that's completely false also the bankers have used this notion that they are just hedging they're just hedging they're not taking any prisoners sions against their clients or against the global economy in fact with their derivatives and their rigging and manipulation one of these was a bank who claimed only months ago that they actually made no profit from the rigging of libel or that they took no position they were only hedges well major bank made six hundred fifty million dollars betting on rigged interest rate according to the wall street journal doing. the bank made six hundred fifty

was used as a conduit for a backdoor bailout to goldman sachs and some other counter parties as they were called and who were paid one hundred cents on the dollar from a failing company thanks to the u.s. taxpayer that was outrageous and wrong and i think greenberg and the others are using this as leverage for this lawsuit saying hey whatever deal we made with you or our successors made with you to rescue a i g you had no right to use our money to bail out your pals that's the germ of truth that they're using to hang on this lawsuit and that david boies arguing it was a very good progressive attorney you know it's not as crazy as it sounds fascinates like it's like on peeling an onion richard thanks so much for being with us about wall street is now a parasite on our economy just like the billionaire is a true minds we check out our latest web site no billionaires dot com. it's a visual two thousand and twelve was the warmest year every quarter in the united states according to the national oceanic and atmospheric administration average temperature for two thousand and twelve was fif

. > > take goldman sachs. makes a lot of money, but there are a lot of people at goldman sachs who also make a lot of money. so the disparity wouldn't be as great maybe as wal-mart or some retailer where you have a ceo who probably makes a lot, but you have a lot of minimum-wage workers. so that is going to be a big disparity. > also in corporate governance, we are going to know a little bit more about ceos. for example, when they are applying for a job, we get a look at their background checks now. > > one thing that struck me about a proxy that i saw - i have never really seen this before - where in a proxy statement it will say, "we've performed a thorough background check on this new director. we have checked out all his references." that is something that i haven't seen before. > you looked at other proxies and saw this new love of shareholders now. > > i have never seen so much sort of kissing and telling: "here is what we are doing to keep our shareholders happy. here is our address if you want to write

goldman sachs, jpmorgan, both beating street. goldman sachs here at new highs.p $5.62 at 141.21. dow component jpmorgan beating the street with quarterly numbers but revenue a little shy up half a percent. financials doing well today. back to you. ashley: they are indeed. nicole, thank you. we'll be back in 15 minutes. tracy: the dance over extending the debt ceiling in washington is on as lawmakers on both sides of the file fight over issues like deficit spending and things we've been talking about for years now. rich edson is in washington with more. any progress, rich? >> no. with about a month or so. ashley: rich, thank you. >> back to you. look we've got about a month left before the government reaches the debt ceiling and the two sides are as far apart as they ever been. democrats say congress routinely increases debt ceiling. it allows the federal government to pay for spending it already approved. they say deficit reduction is different argument and they're now proposing eliminating the debt ceiling. >> we must not permit an artificial debt ceiling to th

talk a lot about goldman sachs and what's going on on wall street when we return.ading to a break right now. before we do go, take a look at shares of halliburton. that company is coming out with earnings of 63 cents a share. three cents better than the street was expecting. revenue also coming in above expectations and that stock is up by more than 3%. just one of a number of stocks that had better than expected earnings today. dow component procter & gamble in that, along with kimberly-clark. ♪ aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ for the new mattress models, but sleep train's huge year end clearance sale ends sunday. get beautyrest, posturepedic, even tempur-pedic mattress sets at low clearance prices. save even more on floor samples, demonstrators, and closeout inventory. plus, free same-day delivery, set-up, and removal of your old set. don't wait, sleep trai

have increased, that's allowed more people to qualify to refinance their loans. >> reporter: but goldman sachs is a different story. it deals almost exclusively with institutions, not consumers. it's fourth quarter earnings growth came from a surge in investment banking revenues thanks to gains in stock and bond underwriting. goldman earned $5.60 a share in the period, compared to a $1.84 a year ago. that was also better than expected. big banks aren't the only financials expected to do well in the fourth quarter. the financial sector as a whole is expected to post an earnings gain of 11.5%, making it the best performing group for the fourth quarter. but that doesn't necessarily mean now's a good time to buy most big bank stocks. >> there's a couple names out there in the regionals that look attractive. but for the most part, most of the companies are trading very close to our fair value. >> reporter: there's another trend to watch for this earnings season: cost cutting. banks have been cutting workers and compensation in an effort to shore up earnings. erika miller, "n.b.r.," new york. >> tom

do you have what it takes to cut it in a goldman sachs business class? and... why bulls are rushing the market ... first business starts now.... you're watching first business: financial news, analysis, and today's investment ideas good morning, i'm angela miles. it's january 22nd. in today's first look strap yourself in.. between action this weekout of washington and a heavy week of earnings it's likely to be an active trading week. stocks inched up modestly during the past trading week. nasdaq gained the least-- mostly because shares of apple lost nearly 4%. the senate takes up the assault weapons ban... and johnson and johnson is reportedly negotiatin a $2 billion dollar settlement with patients who received recalled artifical hips philip streible of rjo futures joins us now for a look at the trading week ahead. good morning to you. hope you had a nice weekend off. let's start with this bullish situation. i'm almost starting to feel like there are too many bulls in the market. everybody loves this market. there are a lot of people talking about that. equitie

two traders go head to head over goldman sachs. plus, u.s. automakers get caught in the kros fire of a current si war. the impact straight ahead. and why walmart is becoming the biggest threat to amazon. we get the bottom line, howevers before the online retailer reports earnings. back right after this. >>> welcome back to "fast money." shares of vmware getting hit this afternoon. companies earnings topped expectations and posted a 22% growth for revenues in 2012. problem is, it is forecasting only 14% to 16% growth in 2013. wall street analysts were looking for growth of about 18% for the year. not a very pretty looking chart there, melissa. >> it is now. bertha, thank you. b.k.? >> yeah, i mean, the problem they have here is, everybody has their software already. they are starting to really get some saturation in the marketplace. getting a little competition from microsoft, though i'm not sure that that's really the big factor here. it's just that everybody's bought the product already and it's going to be tough. >> let's talk about amazon.

goldman sachs also posting profits well above estimates.ost-cutting help there and revenue climbing on strong trading and investment banking and u.s. bank core banking revenue was up 60% from a year ago but fell from its previous quarter, the ceo saying he expects a slower 2013 versus this past year, usb. today it's down fractionally. maria. >> all right, bertha, thank you so much. joining us now on a cnbc exclusive for more, here is richard davis, the chairman and ceo of u.s. bank corp. thanks for joining you go. so nice to see you. >> hi, maria. thank you very much. >> how would you characterize loan growth? it looks like it's continuing to fuel the earnings. are you seeing a transition from refis to more purchases in the home loan arena, or what can you tell us in terms of the characteristics of loans right now? >> you know, regarding mortgage loans, we're starting to see a very small turn from refis into purchase money. 69% of our loans last quarter were refinances, but that means that 71% were not and that's the highest number we've ha

what's riding on numbers from goldman sachs out tomorrow? first, straight to our top story and that's apple's slide. the stock is down 24% over the past three months. should you be a buyer or seller? let's go to the chairs and you were a buyer, keith, today. >> yeah, buy it. at the end of the day, the stock was as newsy as newsy gets. not been above valuation. cheap gets cheaper when growth is slowing. i think everybody was saying something bearish about it. we got the signal between $482 to $492. you buy it for a trade to $518. >> we talked about owning 500 puts to protect against the move with the stock sharply breaking below 500, we exercised -- not exercised, sold those puts today and effectively that has us getting longer. >> right, the price in the stock was not good in today's session. >> it was lousy. a few weeks ago when the stock was mid $520s, we called it no man's land. we flagged $550 or so or look for $480 on the down side. and you basically got within close enough, you got your $480 today. i absolutely see the head winds in ap

both goldman sachs and jpmorgan with up arrows. goldman sachs new high. liz: speaking of tech, another big tech cap name, hewlett-packard made a big upside move. [closing bell ringing] david: the bells are ringing. mixed picture as we look at the different indexes. dow jones not able to go into the green. but the s&p is there, tracking up a tick. nasdaq pulled up. not a huge increase on nasdaq. when you think of the influence of apple on the nasdaq itself, the nasdaq index being hugely influenced by that. were it not for gains by apple we would have seen negative gains on nasdaq as well but it did show gains. s&p flirting with the up and down arrow as we speak. liz: touch-and-go moment by moment. look at dow jones transportation index the transports hitting an all-time high today. the index is a composite of to big companies from airlines to railroads to the trucking industry. some investors follow the dow theory the dow and transports need to move in tandem in order to confirm a market trend. right now the dow moving higher, dow transports moving higher.

morgan and goldman sachs. i think they will probably be pretty good. they brought their earnings down to a level where they could beat them. in the banks are doing very well based on the fed policy. so i think they will beat earnings. they probably won't rally too much, because they have already both had a pretty large move. so, the market expectation was that they were going to move, so i think they will probably sit here, and maybe even sell off a little bit on their news. however, i expect the news to be very good. > what is on your buy list? > > right now i am recommending- there is nothing i want to buy right here. i think this is a time to observe the market. for me to want to get involved, i want to see the market break out to new highs here. i think there is a better chance that we could get a little bit of a correction before we get the next leg higher. > have a great trading day. that is todd horwitz of the adam mesh group. > > thank you. boeing gets grounded. in a major move, the faa has grounded all 787 dreamliners for safety checks. it was

how about goldman sachs? how about the money they get in the break or hollywood? >> i don't know what the truth is, but i can tell you honestly that my people still to this day blame these big banks for getting us into this. yet, we're continuing to give them, to give them breaks of some kind. but, a guy making $41,000 a year is managing one of my stores,'s going to have to pay another 800 or $1,000 in taxes that he didn't have to two years ago. >> it's indecent. >> it is indecent and that social security part of it does that affect the deficit? i mean, it does allowing companies to become insolvent. it doesn't respect the profit and loss side at all. >> greta: mike, thank you. >> thanks for having me. disturbing news out of yemen, al-qaeda has a contract out on our ambassador, they want him dead. shocking news coming up. and a newspaper post armed guards outside of the office. why are jou all across america, people are using lysol in hundreds of unexpected ways to help keep their homes healthy. max's mom uses it on the couch, a soft surface that could be home to

of course, both of them a huge impact on the market this morning, jim. >> goldman sachts sachs is a quarter from the old days. people didn't think they could have a big return on equity. this was dramatic. the stocks, tangible book value has been something that hasn't mattered for goldman for a while. i think it's going to start mattering. cash on hand, i think you'll see a tangible book value. compensation for people, really down dramatically. goldman has reined in compensation, revenue's gone up, that's how you make a lot of money. >> the compensation number was higher as their number because revenues were so much higher. but you're right, they took it down to 37 from 2.4. i was surprised at that move down. yesterday's news from morgan stanley not to be overlooked either. stretching out basically giving people ious. an important way in the way wall street compensates. we'll see if other firms follow through. jpmorgan, you know -- >> it gets up behind you. >> not going to dictate trading at all. >> i think we mentioned the -- >> it's over with. >> when i hear whale now, it's going to be st

goldman sachs on their quarterly report. brands, think alcohol and more, what we are looking here at constellation is up 5%. hitting a high again. they saw what the department of justice may be doing in order to have those go along may help the constellation brand. back to you. dagen: thank you. by the way, i am the biggest energy drink consumer because other then yourself and your two kids, you do not have any friends. connell: josh could use a little bit of an energy drink or two. we still have a lot more to talk about coming up. we have apple in china. we have the president and his gun-control plan that will be rolled out in a few minutes. judge andrew napolitano will talk with us about that next. dagen: look at the winners today on the nasdaq. ♪ connell: we are getting closer to the president gun control. let's talk about iphones in china first. dagen: shibani joshi has more. shibani: i do not have to tell you investors and wall street becoming are skeptical about apple. today is and optimistic day. this is despite a dow

they employees of investment banking giant goldman sachs are in line for a bonus boost for what seen as profiting on a crisis surging prices of staple foods and growing shortages are proving to be a silver lining for bankers despite many around the world being left to starve. explains. the employees of goldman sachs investment bank are in for some happy times their salaries have reportedly been raised and almost half a million dollars worth of annual bonuses are to be paid out all because in twenty twelve the company made about four hundred million dollars from investing its clients' money in a range of products known as soft commodities such as weed and maize to coffee and sugar but what's good for bankers is damaging the global food situation say experts and many claim major investment players are contributing to a global food emergency the united nations has warned that the world could be on the brink of a major hunger crisis this year after poor harvests in the united states and ukraine food prices already surged last summer with cereals hitting a record high in september last ye

good times at goldman sachs stuff the investment giants are reported to be getting a significant salary boost but a lot of that money has been made on the back of surging food prices which are leaving many around the world starving and earlier my colleague anita now we spoke to artie's alexy here a show of ski who's been looking into the matter. this debate has been going on for many years now but this latest controversy is definitely making this discussion even more fueled now the employees of goldman sachs investment bank are in for some happy times their salaries have reportedly been raised and almost half a million dollars worth of annual bonuses are to be paid out all because in twenty twelve the company made about four hundred million dollars from investing its clients' money in a range of products known as soft commodities such as maize to coffee and sugar but what's good for bankers is damaging the global food situation say experts and many claim major investment players are contributing to a global food emergency the united nations warned that the world could be on the brink of

goldman sachs wound up giving $1 million to president obama's obama's 2008 election campaign and goldmans also a client of covington and burling that happens to be the firm that attorney general eric holder worked for. what a coincidence. and is there a law that says this is illegal. yes, there are many, but let me give you sarbanes oxley act. a quote here so you're lear on it. chief executive office and chief financial offices certify under oath that their financial statements arestatementsstatement accurate and they assure that all relative and knowingly may be sent to prison. and no one went to prison. let's jump right into it. what are the possible reasons why no one saw prosecution here? >> the word that we get number one, let's accept that these transactions the sale of market-back securities to investors, these were very well lawyered transactions. these are not easy prosecutions by any stretch yet there have been no attempts at prosecution. that raises the question of whether, indeed, it is impossible to find fraud in these things. that doesn't seem to be the case either. there h

people saw in this white house favoritism towards goldman sachs and the banks. the problem was the left populism has not emerged until now. for too long, many felt with the bomb in the white house that things would be sorted out. that is where movements become important. every administration in modern times has had to deal with insurgency's or movements on its left and right. reagan in many ways was a movement president. i say that with contempt for what he did in damage to this country. you need to see the pendulum has now swung. the tea party in many ways has lost a lot of this mojo because of overreach. it is out of sync with the values of so many people. we could have seen that in the summer of 2009. one of tea party people stood up and said "government, take your hands off my medicare." you see how internalized those programs are. >> who does not want to watch a car wreck? >> it has done a lot of damage. >> this tweet says the obama administration is responsible for the tea party. >> it opened a backing tree that hot summer of 2009 -- it opened up a vacuum