j.p. morgan chase to continue to benefit off of high unemployment and they're living up to this person center because in many states they're actually offshoring the jobs related to processing stamps to save money j.p. morgan has been routing benefit card customer service calls to india where employees reportedly earn no more than three fifteen hour. meanwhile in the u.s. abyss of economic hardship nearly fourteen million americans like every else are unemployed i imagine that if you were given an opportunity to work as a customer service rep i would do it millions of people would do it j.p. morgan has refused to say which states dial up customer service centers in india it's just completely inappropriate that this type of public service is being outsourced to a private profit driven company especially one that was bailed out by the american taxpayers bailed out to the tune of twenty five billion dollars in two thousand and eight j.p. morgan has bounced back reporting a seventeen point eight billion dollar profit in two thousand and ten the same success can be said for the people forty percent

j.p. morgan chase you continue to benefit off of high unemployment and they're living up to this person so no because in many states they're actually offshoring jobs related processing steps to save money. j.p. morgan has been routing benefit card customer service calls to india where employees reportedly earn no more than three fifty an hour. meanwhile in the u.s. a business of economic hardship nearly fourteen million americans like every oh are unemployed bailed out to the tune of twenty five billion dollars in two thousand and eight j.p. morgan has bounced back reporting a seventeen point eight billion dollars profit in two thousand and ten the same success can be said for the people forty percent of food stamp recipients are working americans unable to keep up with the cost of living. archie new york michael prysner from the newly formed party for socialism in liberation in the us believes that banks that place the burden of the crisis on ordinary americans are the only ones to blame what's happening is there's a budget deficit there's an economic crisis and it's a budget deficit beca

j.p. morgan chase to continue to benefit off of high unemployment and they're letting this person say no because in many states they're actually offshoring jobs related processing steps to save money. j.p. morgan has been routing benefit card customer service calls to india where employees reportedly earn more than three fifty an hour. meanwhile in the u.s. the business of economic hardship nearly fourteen million americans like every are unemployed bailed out to the tune of twenty five billion dollars in two thousand a j.p. morgan. reporting a seventeen point eight billion dollar profit in two thousand and ten the same success can be said for the people forty percent of food stamp recipients are working americans unable to keep up with the cost of living. r.t. new york time now for a look at some other headlines from around the world a suicide car bomb in the eastern afghan city of costas killed at least eleven people including two police officers and wounded thirty on this incident took place the roadside checkpoint police say they grew suspicious of the bomb and opened fire prompting him to d

j.p. morgan chase who was the treasury secretary under bush oh. oh henry paulson where was the from warmest your goldman sachs keep going down the line you know wall street saw jack washington hands off with the big boys only read the people are the ones that have to abide by the laws so it's always easier to blame the mom when in doubt just playing the mob if you're able to it's a last game spend but you know it's a process made out of conscious you and other folks are bringing this issue to light for example charles ferguson the director of inside job winning author last night here said what he had to say about all of this was i'm. i must start pointing out that three years after own horrific financial crisis caused massive fraud not a single financial executive is going to change and that's why. he makes a good point writing those c.e.o.'s and executives still raking in now half of profits so now much has changed now known it was so apologetic at is that i mean you know i thought he's going to cry and all those little hollywood wimp of cracks c

j.p. morgan chase likely knew about the ponzi scheme for years, but did nothing about it. he's suing for over $6 billion, and says the bank collected billions in fees on madoff's accounts. the suit was filed in december but only unsealed today. chase had fought to keep it confidential. the bank denies the allegations. it says, "j.p. morgan did not know about or in any way become a party to the fraud orchestrated by bernard madoff" >> realistically, there is no other source to get this many people for that cost. >> tom: still ahead, why careerbuilder keeps spending millions of dollars to advertise during the super bowl, and what it gets in return. egypt's beleaguered president hosni mubarak says he's fed up and ready to step down, but he fears doing that would result in more chaos in his country. even as he spoke, the fight for egypt's future went on in the streets of cairo. violence between pro- and anti- mubarak demonstrators continued for a second day. meantime, a top western think tank says egypt's unprecedented week-long clampdown on internet and cell phone networks wi

j.p. morgan chase, alleging bankers had concerns about madoff but did nothing. even picard's camp says madoff's story isn't true. they put out a statement today: >> he is at the inner circle of financial hell, and i think he wants other people surrounding him to share the guilt and culpability. he's a man who got to rationalize the suicide of his child. >> reporter: in the interview, madoff said he never asked to attend his son's funeral because it would have created a media circus. he also said no members of his family knew anything about his massive fraud. katie? >> couric: jim axelrod, thanks so much. meanwhile for a company in the book business, it's the saddest chapter of all: chapter 11. boarders filed today for bankruptcy. it will close 200 of its more than 600 stores, and 6,000 employees could lose their jobs. one reason for borders' troubles: it was slow to jump on the e-book wave. here's anthony mason. >> reporter: at printing presses like this one in pennsylvania, the e-book is the enemy. >> e-books this year affected our business maybe 8% to 10%. >>

j.p. morgan chase and bank of america's merrill lynch unit. and both of those stocks were also down sharply today. >> there wasn't much that was not down sharply today. all of the 10 major s&p stock sectors were in negative territory by the closing bell. let's go ahead and get folks updated with tonight's "market focus." >> tom: stock investors were greeted with a stiff sell-off after the long president's day weekend. stock prices dropped, volatility jumped, and bond interest rates fell as prices rose. let's start with today's trading of the s&p 500. we spent the entire day in negative territory as stock prices continued falling through the afternoon. since december 1, the index has seen an almost uninterrupted bull run, representing a 14% jump before today's sell-off. today's drop in stocks brought with it a pop in fear. the chicago board options exchange volatility index measures market near-term expectations. a falling fear index corresponded to the stock rally. the jump today brings it to its highest level of the year. with the stock weakn

j.p. morgan chase apologized for overcharging thousands of military families for their mortgages. as i discover, the general's wife is gung-ho about her new mission. >> i haven't been in the spotlight personally, but i'm willing to do it for the cause of our military families. >> couric: holly petraeus has always preferred to let her husband, general david petraeus, take center stage. >> i appreciate the opportunity... >> but now she's answering the call to service. >> ...to compete on a level playing field. >> couric: leading an office in the new financial protection bureau to safeguard military personnel and their families from financial fraud. >> they are a targeted population. it's sad to say that, but it's true. you'll see outside the gates of military installations, there's usually a strip with the "buy here, pay here" car dealers, the check cashing, the payday loans, the pawn shops, all ways for them to basically cut into their paycheck by taking out debt to buy things. >> couric: a recent survey found that nearly a third of military families had at least $10,000 in credit

j.p. morgan chase offering a mea culpa to the military. it's launching new efforts to help u.s. troops after overcharging thousands of soldiers for mortgages and wrongly foreclosing on some. the bank will: lower mortgage rates for active duty military to 4%; it won't foreclose on active-duty personnel; and it'll donate a thousand homes to military families and vets over the next five years through non- profit partners. >> tom: apple launched a new subscription service today aimed at all sorts of content publishers. from newspapers and magazines to music and blogs, companies can use the tool to sell subscriptions through the tech giant's app store. the hitch: they have to charge apple customers the same amount they charge other users. in exchange, apple gets a 30% cut of sales. >> susie: by now, you've probably got a pile of tax documents sitting on your desk, and that means one thing: tax time is just around the corner. so we're here to help. all this week, kevin mccormally offers tips to help you get started. he's editorial director at kiplinger's personal finance. in tonight's

j.p. morgan chase and morgan stanley will reportedly lead the i.p.o. uncle sam still owns 74% of ally, after bailing it out with a $17 billion loan during the financial crisis. ally is not commenting on the i.p.o. detail and the treasury has hired its own advisor for the deal. >> tom: 2010 was a good year for most chrysler dealerships. eight out of ten finished the year with a profit. for the most part, that money was used to upgrade or expand their dealerships. chrysler c.e.o. sergio marchionne says he's relying on the 2,300 u.s. dealers to help the company meet its goal of selling two million vehicles worldwide this year. in the coming weeks, chrysler will start selling its compact fiat 500 in u.s. showrooms. >> tom: investors can't recognize a bull market for stocks when they see one. so says tonight's market monitor and he thinks the bull run will continue. he's john dorfman, chairman and founder of thunderstorm capital. john, always nice to see you. welcome back to n.b.r.. >> thank you so much. >> tom: so what makes you so comfort that this bull m

j.p. morgan chase had a nice rally, 16%. do you still like these two? >> yes, we do. many of these bank recommendations were based upon milestones, positive milestones that peas banks would -- these banks would achieve over the next year or two including a significant improvement in their credit situation. and now dividends are being talked about actively among some of the best banks including j.p. morgan. so we see the prospects for banks continuing to be good as the economy expands and their credit picture heals. >> tom: okay. how about disclosures tonight. do you or the clients own positions. >> we have bank of america, we have j.p. morgan among other banks and we have substantial holdings in industrial companies that are included in that etf that you mentioned. >> tom: this friday evening, it's marshall front with front barnett associates. in chicago's hispanic neighborhoods, a small chain of family bookstores has linked immigrants to their homelands for more than fifty years. libreria giron has survived competition from big-box bookstores and internet retailers.

j.p. morgan chase the largest holders a lot largest financial dealers in this they're doing very well as the u.s. pushes producers to convert corn crops to ethanol the crisis deepens around the world demand for biofuels has tripled over the past six years and will triple again by two thousand and twenty growing demand for biofuels. challenge increasing the amount of food we have to produce for people and. farmers are having a tough time keeping up but americans aren't as eager to push frustrations from the grocery store to the street from earth to take. you know we have to get sick and when you get there we're doing thirteen point nine billion dollars in cuts to food stamp programs over the next three years means that the average american family will receive fifty nine dollars less per month bringing less food to their table but it's unclear whether it will also bring them out in the streets for a heartbeat washington d.c. . and staying with dollars and the u.s. we explain to you later this hour how a new budget proposal is making some americans fear even for their future. trillions in feder

j.p. morgan chase is blasting charges it knew about bernie madoff's big ponzi fraud. the trustee recovering madoff's assets sued chase, saying the bank ignored warning signs on madoff's accounts there. chase say it didn't break the law, and wasn't required to investigate those accounts. still ahead, tonight's "street critique" has some lessons on investing in small and speculative stocks. hilary kramer of gamechangerstocks.com. >> susie: big merger news here at the new york stock exchange involving the big board itself. the n.y.s.e. says it's in serious talks with germany's stock exchange, the deutsche bourse. no agreement yet, but if they do a deal deutsche would buy the n.y.s.e., creating the biggest stock exchange in the world. reportedly, the n.y.s.e.'s duncan niederauer would be the c.e.o. of the powerhouse and reto francioni, the head of the deutsche exchange, would be chairman. joining us now with more, michael wong, financial services analyst at morningstar. hi, michael. >> hello, susie. >> susie: so does this combination make sense? why would these two giants

j.p. morgan chase, are behind urban partnership bank. the bank opened last summer after big lenders put up roughly $145 million in capital for the assets and deposits of the failed shore bank. shore bank was a chicago institution for more than 30 years. urban partnership's leaders, william farrow and david vitale, call the new bank a win-win for the community and the big banks. >> the customers we serve have to be served by somebody, and you don't want to go back to the '70s or '80s when it took the government to force that to happen. but they would certainly have gotten encouragement to come in and serve these communities one way or another. >> reporter: in the past couple of years, more than 300 u.s. banks have failed, collapsing under the weight of bad commercial and residential real estate loans. most, like shore bank, were community banks with assets under $10 billion. about half of the loan portfolio urban partnership assumed is still at risk. so farrow says the bank is focused on restructuring those loans and counseling customers.