they are past the chase bank and on their way to wells fargo then goldman sachs. it a big loop in the financial district to bring their message of economic inequality. right now it looks as though most people are staying on the sidewalk. as you can see it is such a big crowd they are moving out into the streets. so far it has been peaceful. we'll bring you updates later in this broadcast on abc7news.com. >>> let's check in on the weather if you are feeling a little brr, compared to this past weekend. >> it was gorgeous out there >> nice sunshine, warm beaches, cold water still. our air is more reflective of our water. check out high clouds across the skies. east from south beach this morning, want to show you this other shot too. this is 2600 feet up. have you ever seen the clouds roll over like that? it doesn't happen often of the gives you an idea how deep the marine layer has become how strong of a push this cool weather is and how high in the atmosphere it goes hard to get rid of today and into tomorrow. let's focus on another perspective. high clouds and low clo

they are past the chase bank and on their way to wells fargo then goldman sachs. itis a big loop in the financial district to bring their message of economic inequality. right now it looks as though most people are staying on the sidewalk. as you can see it is such a big crowd they are moving out into the streets. so far it has been peaceful. we'll bring you updates later in this broadcast on abc7news.com. >>> let's check in on the weather if you are feeling a little brr, compared to this past weekend. >> it was gorgeous out there >> nice sunshine, warm beaches, cold water still. our air is more reflective of our water. check out high clouds across the skies. east from south beach this morning, want to show you this other shot too. this is 2600 feet up. have you ever seen the clouds roll over like that? it doesn't happen often of the gives you an idea how deep the marine layer has become how strong of a push this cool weather is and how high in the atmosphere it goes hard to get rid of today and into tomorrow. let's focus on another perspective. high clouds and low c

brokerage firm and for its c.e.o., jon corzine, the former governor of new jersey who once ran goldman sachs. it was jon corzine's dream to build m.f. global into a mini goldman sachs. he talked about transforming the midsize firm to a full-fledged investment bank. but all that changed when corzine and the firm made too many risky bets, especially some bad trades in europe. as the european debt crisis worsened, m.f. global posted a loss of $186 million in its fiscal second quarter because of that huge loss, it was downgraded to junk status. this is the eighth-largest corporate bankruptcy filing in the u.s. since 1980. m.f. global listed its assets as $41 billion. it has nearly $40 billion in debt. it has a large number of creditors. j.p. morgan bank and deutsche bank trust are the top two of its 50 unsecured creditors, with more than $1 billion each. others include pricewaterhouse- coopers, oracle corporation, bloomberg finance and the forum group. until today, m.f. global was considered among 22 companies financially secure enough to act as primary dealers to sell u.s. government debt. the fede

fact is there is no way within the american political system to vote against the interests of goldman sachs it doesn't matter whether it's bush or obama or mccain or anyone else. we we live in a in a in a society. in which the citizenry has been utterly disempowered rendered impotent. and it doesn't matter what citizens want even when we vote for instance in two thousand and six. against the war in iraq and turn the control of congress back over to the democrats what does the democratic party do it continues to not only fund the war but increase troop levels in iraq by thirty thousand obamacare ends up being two thousand pages written by corporate lobbyists the equivalent of the bank bailout bill for the pharmaceutical and insurance industry four hundred billion dollars in subsidies obama has expanded the reach of imperial wars including proxy wars in somalia yemen pakistan has not restored a b.s. corpus on all of the major structural issues there is no difference there's a complete continuity and of course the working class and the poor and increasingly the middle class have to pay the price

furiously oppose occupy wall streeif you really want to affect economic change, kids, do it the ass and get a job at goldman sachsve it up sachs. lloyd is a friend. but what really bundles my anger and short-sells my rage is the latest supporters of these >> t ben and jerry's is backing the >> ben and jerry's is posting ae saying, we stand with you. action and are honored to join you in this call to take back our nation and democrac ben and jerry, how could you support thes what's next, supporting gayause your hubby's got a chubby for a chunky monkey?hter ] s that i support this protest, because of my ben & jerry's flavor ameri-cone dream. [chee no way!flavor is 100% pro-business. eating it is the pe increase your bottom line. as well as your belly line and the area-formerly-known-as-chin line. [ laughter ] lump ur anti-corporate socialist flavors like willieuntry peach cobbler.h food, and karamel marx.hter ] not to mention the flavor of my former best friend for six months and current enemy, jimmy fallon's late night snack. [ laughter ] salty caramel swirl, fudge-covered potato chip it's clearly anti-business si

how due feel about it now. >> i still love goldman sachs, and i'm more optimist k than ever, but investors are finally seing it my way. >> how is that. what do you mean? >> goldman sachs trades as a huge discount to tangible book value. basically it's undervaulted. think about it. financials have gotten so badly hurt. goldman sachs like all the other investment banks tend to see most of the acquisition and requisitions in the father quarter, and they're backlogged with deals analysts digested the news about goldman sachs $393 million loss figured out that the fourth quartered is going to be a blowout quarter, especially if underwritings california back, susie. 500 companies are waiting to go public, and as soon as you see an opening, banks like goldman sachs are going to bring them public again. >> susie: are you saying you were buying goldman today? also, where do you see the target? the stock was trading at $175 in january. what's your target on it? >> i believe goldman could certainly get back above $200, but it could be a two year process to get there. but don't be surprised if it move

you worked at goldman sachs. it's taken you a lot of years to gain that credibility. a difficult transition for you? >> well, i think the first answer to that is it's still important for me, in the sense that the election, the economy is the most important issue in the election. and i believe in general that money and where money is going and who is getting money is central to every story. >> you're not walking away from that? >> no. and i think that's an important angle we can bring to all stories. but a lot of the things that i love in terms of the foreign reporting and some of the issues that i really care about that have a fan

the uncertain economic picture, and that uncertainty has hurt goldman sachs' own share price in recent months. let me show you how much it's hurt the share price. when the financial crisis originally hit back in 2008, the u.s. government actually helped bail out goldman sachs to the tune of no less than $10 billion as part of that t.a.r.p. program. later on that year, goldman sachs actually reported its first ever quarterly loss as a publicly traded company. that loss coming in at $2 billion. and take a look at what actually happened to the share price since that date. well, within a year, it seemed as though the good times were back again and rolling. record numbers, this company posted for the first two quarters of 2009. but this is where things get interesting. recently as you can see, goldman sachs' shares haven't been putting in a stellar performance. they're actually down by about 40% in 2011 alone. so it just goes to show, who says that goldman sets the tone? >> if you add that into a banking stock, you know you've got problems. >>> goldman drew the attention of the world when it said it was paying colossal bonuses

jon corzine ran it he ran goldman sachs. it is filing for chapter 11. big he controversy there.good news. october was fantastic. >> even with that 276 points today. the dow up over a thousand points. 1041. take a look at that this is the best october since 2002. i have got to tell you. october is usually terrible. so good news here. >> shepard: if you have gotten in at the beginning of october in the dow index fund, you would be pretty happy. >> what you do is invest slowly over time. >> shepard: that sounds so rational, gerri, be careful. >> i know. >> shepard: nice to see you. >> good to see you. >> shepard: gerri is the host of the fox business report. you don't get that network, demand it u.s. immigration and customs enforcement or ice as they call themselves reporting that that arm of the government has busted a major drug smuggling ring with ties to mexico's most powerful cartel. and as it turns out our cameras were along for the bust. the amount of narcotics this gang allegedly smuggled into the united states is frankly staggering. officials said over the last five years

i think the consequences of goldman sachs failure in this economy with a european financial situation where it is, the consequences would be catastrophic. goldman sachs is too big to fail. this kind of statement sometimes confuses people, because they think i'm somehow representing some creasy left-wing ideology here. well first of all i'm not a lecture in person. i'm the former chief economist of the monetary fund. they have a test that screams out crazy left-wing people. [laughter] i did very well on that test. [laughter] second, let me quote some of my favorite thinkers on this issue are absolutely from the right. jean farmer, the father of the efficient market view of finance. professor at the university of chicago said on cnbc last year too big to fail is not a market, it's a government subsidy scheme. and he's right. tom, the of doing recently retired president of the fed has nailed this point again and again. and robert is brilliant on this topic. john was kind enough to mention 13 bankers. the intellectual -- which is about regulated capture and state captured brought about by the too

goldman sachs delivered its second quarterly loss since it went public in 1999. the end of an era for bank of america. despite an earnings win, it lost the title of the nation's biggest bank to jpmorgan chase. ford's new four-year labor contract with united autoworkers is a go, according to a posting on the local louisville union's facebook page. the cash-strapped u.s. postal service is upping the price of first-class stamp by a penny next year to 45 cents. samsung and google have launched their latest iphone rival, the android-driven galaxy nexus smartphone. and nothing says excess like the neiman marcus christmas book. among this year's fantasy, a $75,000 yurt, a $250,000 speed boat and a custom made ferrari for a cool 400 grand. would that fit under the tree? i don't think so. >>> coming up, the rangers and cardinals get ready for game one. the oakland raiders make a hail mary trade. >>> plus, scary moments on the ice when bruins' defenseman joe corvo goes down hard. your early morning sports headlines are straight ahead. >>> today's going to be the worst trav

you are so closely identified with being a market reporter, you worked at goldman sachs. it'sen you a lot of years to gain that credibility. is that a difficult transition for you? >> well, i think the first answer to that is it's still important for me in the sense that the election -- the economy's the most important issue in the election. and i believe in general that money and where money is going and who is getting money is central to every story. and i think -- >> you're not walking away from that? >> no. and that's an important aingele that we can bring to all stories. but a lot of the things that i love in terms of the foreign reporting and some of the issue that i really care about that have a financial aspect but also a much broader aspect, which i did at cnbc but wasn't really the core of what they did, is now the core. so i think it's -- i think it's a perfect fit. >> you've been doing rehearsals, you're ready to go monday. >> i'm sick of rehearsals. yes, i am sick of rehearsals. >> do it live. let's do it live. >> if there's something going to happen, let it happe

thousand and nine and rolling stone article the great american bubble machine in it he famously describes goldman sachs as a quote great vampire squid wrapped around the face of humanity relentlessly jamming its blood funnel into anything that smells like money t.v. discussed with us recently how although people are unaware of it the big bank has profound power in society how much you're paying for gas how much you pay for electricity how much you're paying for your credit cards. your mortgages how much you're paying in taxes and how much of your tax dollars are going to debt service. unlike the mainstream media a few here would be shocked by rest on his comments that there was for nearly two weeks these protesters have been out every day hoping to bring an end. or at least awareness to what many call a corrupt system where we. really are. and still others have argued for years that the government's actions are dictated by the big banks the very special interest in on wall street the insurance industry and he's got these are the people who are writing the laws that obama is they are keeping him in our

goldman sachs and bank of america. we bring in geoff cutmore live for us this morning in london. geoff, good morning. >> good morning to you. only the second ever quarterly loss for goldman sachs since it went public 12 years ago. $428 million loss for the third quarter. a lot of that came from failings in the trading a rein a in terms of underwriting equities and bonds. bank of america end of an era for that bank, knocked from the number one position. it now has to sit behind jpmorgan in terms of the size of this business. they reported a net profit in at $6.2 billion for the third quarter. but that helped greatly by the sales of shares in china construction banks. so not a great day at the office. >> as you say, they posted a profit, but they fall behind jpmorgan chase. geoff, thanks so much. still ahead, red sox players admitted it drinking in the clubhouse during games. what do they have to say about new allegations that they drank in the dugout? sports just ahead. plus more from last night's republican debate where the candidates spent large portions of the evening simply talking over each other and asking ross perot styleky finish? >>> if you opened general motor, your loss was $

fraud unchecked plus the vatican bank is one of the most corrupt banks in the world it's as corrupt as goldman sachs and j.p. morgan it's as corrupt as they just be saying it's a corrupt with every big bank and i think he was concerned about stephen schwarzman and lloyd blankfein getting you know it's a bad game trying to grab goldman sachs and and all these threats right like i said he's doing god's work yeah like oh wait a minute i got the big. all right thanks so much for being on the kaiser report thank you max i'll go much more coming away so stay right there. real you believe in science and technology from the right. we've got the future covered. military. families. dynamic. nice guys are welcome back to the kaiser report time now to go to atlanta georgia speak with gal for birth gallons of actuary who writes our finite world com and you can also follow her on twitter at twitter dot com forward slash the actuary gail the actuary welcome. today kaiser report ok here all right care all our card to look at pedia an actuary is a business professional who deals with the financial impact of risk and

fraud unchecked plus the vatican bank is one of the most corrupt banks in the world it's as corrupt as goldman sachs and j.p. morgan it is crap is a just me saying it's a corrupt as any big bank but i think he he was concerned about stephen schwarzman and lloyd blankfein getting you know this guy game trying to wrap goldman sachs and and all these press right like like i said he's doing god's work yeah well it's like well wait a minute i think that. all right thanks so much for being on the kaiser report thank you max go much more coming away so stay right there. three. three. three. three. three. three. three vote. for your immediate trial against the c.e.o. don carty. nice guys you're welcome back to the kaiser report time now to go to atlanta georgia speak with gal for berg gallons of actuary who writes our finite world. com and you can also follow her on twitter at twitter dot com forward slash the actuary gal the actuary welcome to the kaiser afford ok q all right gal according to wikipedia an actuary is a business professional who deals with the financial impact of risk and uncertainty so the

give it up for goldman sachs. lloyd is a friend. rt-sells my rage is the latest supporters of these bottom 99-percenters. jim? >> the group has its first show of corporate support. ben and jerry's is backing the protests. >> ben and jerry's is posting a message to protesters on their website saying, we stand with you. >> we support this call to action and are honored to join you in this call to take back our nation and democracy. >> stephen: what? ben and jerry, how could you support these lefty protesters? what's next, supporting gay marriage just because your hubby's got a chubby for a chunky monkey? [ laughter ] this endorsement implies that i support this protest, because of my ben & jerry's flavor ameri-cone dream. [cheers and applause] no way! my flavor is 100% pro-business. eating it is the perfect way to increase your bottom line. as well as your belly line and the area-formerly-known-as-chin line. [ laughter ] -1- how dare you lump me in with the rest of your anti-corporate socialist flavors like willie nelson's country peac

goldman sachs delivered its second quarterly loss since it went public in 1999.he end of an era for bank of america. despite an earnings win, it lost the title of the nation's biggest bank to jpmorgan chase. ford's new four-year labor contract with united autoworkers is a go, according to a posting on the local louisville union's facebook page. the cash-strapped u.s. postal service is upping the price of first-class stamp by a penny next year to 45 cents. samsung and google have launched their latest iphone rival, the android-driven galaxy nexus smartphone. and nothing says excess like the neiman marcus christmas book. among this year's fantasies $75,000 yurt, a $250,000 speed boat and a custom made ferrari for a cool 400 grand. must be nice. >>> coming up, the rangers and cardinals get ready for game one. the oakland raiders make a hail mary trade. >>> plus, scary moments on the ice when bruins' defenseman joe corvo goes down hard. your first look at sports is straight ahead. you're watching "first look" on msnbc. ugh, time to color. woohoo! whoa. haircolor is a

personally don't hold anything against you know hippies i haven't done as much damage in its country as a goldman sachs. so it's sort of you know a natural byproduct of having a large i merely liberal gathering you know where it's show up because yes and if you look at profiles. i remember you know the fact that the media just. so of course there are people there who are in a drum circle rush over to them that you can't deny that that is an aspect of this new government but you also can't say that it's you know you're away those. of you in the way of different individuals and lisi journalist don't like to do that review journal it's time to find the craziest person out protests like this and call them that you read ambassador of the entire movement which is really a better and which we've seen with a number of outlets now getting to what you were saying about this being a stablish man and protesters feeling failed by both republicans and democrats and feeling perhaps like they don't have the power that corporations do they can get all this money to politics and get power as a result one of our reporter

. >> one big loss today at goldman sex reported a third quarter loss of $428 million of goldman- sachs--it is only the second time a loss has been reported in told years of laying off 1300 employees. >> bank of america posted a huge gain in. it earned $6.2 billion this quarter. it sold a large chinese holdings bank. and also all the assets fell at 2.2 trillion dollars. j.p. morgan chase is the largest bank in the united states. >>pam: apple came right below their earnings expectations even though the company still came in at $6.2 billion. tomorrow, they will have a private memorial for the employees in observance of the late steve jobs. who was recently deceased from complications of pancreatic cancer. >>pam: a gunshot wound in this neighborhood claims the life of a non-gang-related shooting. >> last night, that was the 37 homicide. it was 17 at this time one year ago. so far, six different officer involved in shootings. today, the loss of officers and budget cuts has impacted the abilities department to fight crime. >> this is the question of law enforcement how many cups? we are 1100 we

fraud unchecked plus the vatican bank is one of the most corrupt banks in the world it's as corrupt as goldman sachs and j.p. morgan it's as corrupt as they just be saying it's across any big bank but i think he he was concerned about stephen schwarzman and lloyd blankfein getting you know this guy game trying to grab goldman sachs and and all these look like i said he's doing god's work yeah like oh wait a minute i got the big. thanks so much for being on the kaiser report thank you max i'll go much more coming away to stay right there. those who are fascinated with history. to those who have a sweet tooth. to those who can't live without discovery. and of course to the nature lovers this magnificent land offers its treasures. bush. between earth and the sky. on our team. i am nice guys are welcome back to the kaiser report time now to go to atlanta georgia speak with gal for berg gal is an actuary who writes at our finite world dot com and you can also follow her on twitter at twitter dot com forward slash gal the actuary get all the actuary welcome to the kaiser afford ok q all right gal accordin

fraud unchecked plus the vatican bank is one of the most corrupt banks in the world it's as corrupt as goldman sachs and j.p. morgan it's as corrupt as h.s.b.c. it's a corrupt as any big bank well i think he he was concerned about stephen schwarzman and lloyd blankfein getting in on this guy game trying to rob goldman sachs and in all these present look like i said he's doing god's work yeah like oh wait a minute i got the big head. all right since there were thank so much being on the kaiser report thank you maggie don't go away much more coming away so stay right there. in the. real you the latest in science and technology from the realms. we go to the future of covered. military. the story. dynamic. my stash your welcome back to the kaiser report time now to go to atlanta georgia speak with gal for berg galahs an actuary who writes our finite world dot com and you can also follow her on twitter at twitter dot com forward slash gail the actuary get all the actuary welcome. to the kaiser report well thank you all right gal according to wikipedia an actuary is a core business professional who deals

it's not as if they were a run on goldman sachs tomorrow and they looked like they were going to collapsend the government could let it go. it's a very strange situation. you have socialism for the capitalists. they are backstopped by the government. they can do what they do because the government is there to back them up if something goes wrong. you have social support for elites for the best people in society and at the same time, you have red and tooth and claw capitalism for everyone else. that's the sense of unfairness that gives rise. i mean, i feel it and i'm well off. i can only imagine what it feels like to be 20 years old, lots of student loans and no job prospects and wonder why the world is the way it is. so, to me, it's a very interesting social movement because it isn't half baked. it's fully baked. there are real reasons for people to be on the streets. kind of a question, why now. the answer is, the pain had to accumulate to the point people felt they needed to do something about it. i think for awhile, after the financial crisis, people thought we can go back to normal. i

fraud on checked plus the vatican bank is one of the most corrupt banks in the world it's as corrupt as goldman sachs and j.p. morgan its growth is a just b. c it's a corrupt very big bank and i think he he was concerned about stephen schwarzman like blankfein getting in on this god game trying to grab goldman sachs and and all these present look like i said he's doing god's work yeah like oh wait a minute i got the big hat. all right thanks so much for being on the kaiser report thank you max we'll go away much more coming away so stay right there. you go. faster welcome back to the kaiser report time now go to atlanta georgia speak with yell. gallo's an actuary who writes our finite world dot com and you can also follow her on twitter at. twitter dot com forward slash gal the actuary get all the actuary welcome to the kaiser report ok q all right tell our card to look at pedia an actuary is a core business professional who deals with the financial impact of risk and uncertainty so the question is was risking uncertainty in mind and tell us about your latest article on the united states as debt bubb