j.p. morgan chase in the morgan >>stanley: . >>darya: we're back with more in a couple of minutes. a pretty nice morning out there. here's a look at the metering lights on the bay bridge. the >>justine: we are following a live pictures out of new jersey. a pretty bad accident between a school bus and a dump truck. this is in chesterfield, new jersey. the school bus is now off the road and partly on the median. we do know that kids are hurt. we do not know the extent of the injuries. it appears that the collision caused the back end of the school bus to crash into that utility pole. the dump truck went off the side of the road and is on a grassy patch. again, there are several injuries. we will keep you posted as soon as new information comes into the newsroom. >>darya: from the nigerian man who attempted to blow up an airplane on christmas day in 2009 will be sentenced today. this so-called underwear bomber faces a mandatory life sentence. he pled guilty. the man says he was on a suicide mission for al- qaeda. >>mark: a new report revealed there is enough trash in san francisco bay

j.p. morgan chase, and allied bank have agreed to the settlement in response to a nationwide investigation. this is just a first step, a little down payment for the havoc caused by the behavior of the banks. >> it is the largest agreement of its kind in maryland history. the biggest part of the money, more than $800 billion of a, will go towards homeowner programs and the rest will be split between helping distressed homeowners and various state housing initiatives. after spending $15,000, kevin's foreclosure was overturned but it is still in litigation. he is happy the settlement will help others avoid the hardship he has endured. >> i hope i am the last this happens to. >> if you think he may be a victim and like to file a claim, you can call the state attorney general's office. shelton dutes, wbal-tv 11 news. >> good news from b g e could be more pockets in the money -- more money in the pockets of ratepayers. bge said falling prices for natural gas and electricity are also helping keep bills down. delmarva our reports a 10% decrease in the use of electricity in maryland in the month of

j.p. morgan chase, and in the private side of the enterprise that we deem and we think may help us when they had felt as in recent history. thank you very much. supervisor campos: thank you. next speaker, please. >> good afternoon, a commission. joe boss. about a year-and-a-half ago, i helped put together what we called the stakeholder, and it consisted of people in mission bay, people who own property in a showplace square, potrero hill, and so forth. it also included ucsf, the redevelopment agency commissioned a development, and we had a couple of very good meetings. the whole focus was -- we also had neighborhood stakeholders, people who live there in that area. john ram put together a very good team with josh riskey and greg. and our whole purpose was to say that the raley joint -- real authority in the joint -- and this, that, the other thing are here, and we realize what the impact our and realize how important is to get it right. and i really cannot emphasize that, as much as ta it is important and so forth, i think you need to circle back to the stakeholder group that was really help

j.p. morgan chase, citi group and allied financial, handling almost all half of the outstanding mortgages. while they bring release to over 2 million homeowners, there are still millions of others at risk. here is a look at how some of the money will be breaking down. they are eligible for $40 million. the virginia attorney general says that residents there, who experienced the foreclosure abuses, they will get about $479.5 million if many relief. and another $409 million will go towards modifying the terms of the existing loans. and virginia, they will get almost about $70 million. maryland, they are set to get about $9670 million -- $960 in their share of the money. that will help jump start the economy. >> the heartless soulless conduct lead directly to the foreclosure crisis in the united states and that contributed to the economic downturn that affected us all. and today, we are holding the banks accountable for that conduct. >> our scott broom took a closer look at all the numbers on 9news now at 5:00, you can see his report at wusa9.com. >>> a teacher at the montgomery county high s

j.p. morgan chase could pay an estimated $25 billion to put robo-signing claims to rest. >> tom: once that happens, what will it mean for a housing market that is still struggling to find a bottom? darren gersh begins our reporting from washington. >> reporter: up to now, most of the efforts to help underwater homeowners have focused on reducing their interest payments. but consumer advocates like ira rheingold hope the robo-signing settlement will focus action on the real problem-- reducing the debt burden for homeowners who owe more than their homes are worth. >> my hope is that, once we begin to see that principal reduction actually makes a difference, that these homeowners who could have been in default are no longer in default with their payments. it will move some of the actors in our marketplace who are being unbelievably recalcitrant in terms of principal reduction, in terms of allowing homeowners to save their homes will move in that direction. >> reporter: the biggest piece of the robo-signing settlement is aimed at principle reduction. some $17 billion is expected to be set asid

j.p. morgan chase, and in the private side of the enterprise that we deem and we think may help us when they had felt as in recent history. thank you very much. supervisor campos: thank you. next speaker, please. >> good afternoon, a commission. joe boss. about a year-and-a-half ago, i helped put together what we called the stakeholder, and it consisted of people in mission bay, people who own property in a showplace square, potrero hill, and so forth. it also included ucsf, the redevelopment agency commissioned a development, and we had a couple of very good meetings. the whole focus was -- we also had neighborhood stakeholders, people who live there in that area. john ram put together a very good team with

j.p. morgan did on the bonds and also, bonds related to j.p. morgan chase'sakeover of bear stearns in 2008. j.p. morgan bought bear stearns for two bucks a share. so the issue is the wells notice is ordinarily the next step to an sec civil lawsuit against these firms. jenna: what does that mean for us as just people that go to banks? if they have to settle further, does that mean higher prices for us, is there any actual effect on the consumer when the fdc and the banks are trying to figure this out. >> what this means for the regular consumer is whether or not the cost for settling the lawsuits guess passed to consumers in items of higher borrowing costs but i tell you something, we don't know the dollar figures involved just yet. this has been a long going probe by the sec. the fbi is also telling me they are continuing to look into the complex mortgage loans to see if there are violations of criminal law for the fbi and the civil securities laws they're looking into, violations there, so that's the issue here, jenna. we're going to be staying on top of thi

j.p. morgan chase will pay $110 million to end a class action suit over excessive overdraft fees. the bank was accused of routinely processing transactions from largest to smallest instead of the order in which they were received. consumers complained the practice caused overdraft fees because balances fall faster when big transactions are processed first. its the latest of the big banks to strike a deal on the nationwide suit. bank of america reached a similar deal last year. >> susie: tonight's commentator says while the u.s. job hiring is picking up, there still some fundamental changes to the labor market. he's bill rodgers, public policy professor at rutgers university. >> the reaction to friday's jobs report was the first time in a while where wall street and main street both cheered the news. the superlatives flowed. private sector employment has increased for 23 consecutive months. the length of the work week also expanded, and... the unemployment rate fell to 8.3%, the lowest level since february 2009. i, too, was pleased, but looking forward, i am concerned that as the l

j.p. morgan chase and keep us in touch. shot at them. if you can try to get their paperwork and get them some money because they're flat out. >> all right. >> all right. need some applications? >> excuse me? >> you can leave some application? >> sure. >> ok, good. thanks so much. >> thanks for having us. >> coming up straight ahead, in the final hour, on our rundown, he's taking heat for saying everyone should pay the same tax and he's silencing his critics in the same way he always has. new jersey governor chris christie sits down with us live but first he's going to stand up with steve. obviously the governor doesn't know how to get here. steve has to point him in the right direction. looking good! you lost some weight. you noticed! these clothes are too big, so i'm donating them. how'd you do it? eating right, whole grain. [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios... five whole grains, 110 calories. chocolate lemonade ? susie's lemonade... the mov

j.p. morgan chase city wells fargo and ally financial the obama administration is obviously trying to show that they've got the chops and that they've got the will to go after wall street so they're making a big deal of it and the mainstream media is following suit. a legal settlement that could help home homeowners rather who over more than their house is worth to turn a juror recalled are talking about this deal that has been reached officials announcing a deal between the states of the nation's biggest mortgage lenders over foreclosure abuse through a foreclosure abuses on a deal that would mean nearly two million current and former homeowners could get some relief from big mortgage lenders but the deal addresses a more sinister side of the mortgage crisis homes that were wrongfully seized because the banks cut corners government officials and five major banks that worked out this reportedly twenty six billion dollars settlement that we know it's twenty six billion dollars and it breaks down in a variety of different ways for days we've been reporting the expectation that it would be ca

j.p. morgan chase ally financial and city group were exposed for using robo signers like i was pretending to be and as i just showed robo signers were just people they picked off the street to come into an office somewhere and sign thousands of fraudulent legal documents making it look like the banks own properties that the banks didn't really own all that just so they could for close on whoever was in that particular home this is complete and total criminal fraud it's a criminal conspiracy to force millions of people out of their homes i might as well be citing fake checks walking to the bank to catch them that's how fraudulent the robo signing process was and this fraud was ordered from the very top senior executives on wall street and it got the attention of all fifty states attorneys general washington investigation into the banks after more than a year of that a settlement was worked out in just the last few weeks basically the big banks have to cough up twenty five billion dollars in penalties and use that money to help keep people who are on the verge of foreclosure in their homes

j.p. morgan chase you know we know for a fact because of wiki leaks the bank of america does hire these kind of firms to find out what's being said about them and to work on their public image so yeah i mean i think we're going to sixteen you to see them thrive and prosper but it's going to be term in work rather than supposedly looking for threats outward. very interesting charlie thank you so much for coming on the show pleasure to have you on as always that was charlie mcgrath founder of wide awake news dot com. still ahead on arts here we already know that corporations are people that much was decided by the supreme court not too long ago but do those people have the right to torture that's the debate currently being weighed by the scales of justice but if they are why do i have to abide by the law that story next. and what drives the world the fear mongering used by politicians who makes decisions to break through it's already been made can you trust no one. with the global machinery where we had a state controlled capitalism is called sasha's when nobody dares to ask we do our t.v. que

j.p. morgan chase you know we know for a fact because of wiki leaks the bank of america does hire these kind of verbs to find out what's being said about them and to work with their public image so yes i mean i think we're going to do need to see them thrive and prosper but it's going to be turn it were rather than supposedly looking outward very interesting charlie thank you so much for coming on the show pleasure to have a lot as always that was charlie mcgrath founder of wide awake news dot com oh buckling down on your first amendment rights the house today passed a bill that would make it illegal to protest when government officials are nearby and by government officials they mean past present foreign anyone who is protected by the secret service this of course raises a lot of questions about fundamental first amendment rights the freedom of speech and assembly especially in the wake of the occupy wall street demonstrations that have swept across the country so rick santorum who just got his secret service privileges no protesting near hen former presidents foreign heads of states protes

j.p. morgan chase city wells fargo and ally financial were all ordered to shell over twenty six billion dollars money that was supposed to go to helping those families that were kicked out of their homes from two thousand and eight thousand and eleven or that are majorly underwater now as i said last week and i will say again that twenty six billion dollars will hardly put a band-aid over the massive foreclosure problem in our country or the people that are hurting as a result but three states who decide to step in and actually use those funds to balance their budgets and not act.

j.p. morgan chase city wells fargo and ally pinochle were all order to shell over twenty six billion dollars money that was supposed to go to helping those families that were kicked out of their homes from two thousand and eight thousand and eleven or that are majorly underwater now and they said.

j.p. morgan chase and others have agreed to the settlement in response to the nationwide investigation into the mortgage servicing practices. >> there will be fewer houses in the pool and the economy can start to turn around. >> if you would like to follow clan, the process is pretty easy. all you have to do is call the state attorney general's office. 410-576-6300. shelton dutes, wbal-tv 11 news. >> after nearly a week of deliberations, the jury has done the inmate lee edward stevens guilty of first-degree murder. he was convicted in the stabbing death of corbeil david guion. he could become the first person sentenced to death under guidelines.first -- bu -- the stabbing death of corporal david guinn a homicide in northwest baltimore happened shortly before 11:00 on however for road. police said that out an adult male suffering from a gunshot wound to the head. he was pronounced dead at the scene. the victim has not been identified and there is no possible word of motive or suspects. >> mayor stephanie rawlings lake is defending the way she has used the city's skybox at m&t bank stadium af

j.p. morgan chase city wells fargo and ally financial were all ordered to shell over twenty six billion dollars money that was supposed to go to helping those families that were kicked out of their homes from two thousand and eight two thousand and eleven or that are majorly underwater now as i said last week and i will say again that twenty six billion dollars will hardly put a band-aid over the massive foreclosure problem in our country or the people that are hurting as a result but three states decided to step in and actually use those funds to balance their budgets and not actually to give the funds to the families that are actually suffering you see part of the settlement for each state will go directly to the state government and it's designed to cover a whole host of costs like providing additional relief to borrowers paying civil penalties and even setting up foreclosure relief programs it looks like some governors have their own plans on how to spend those dollars take wisconsin for example america's very land is the recipient of one hundred forty million dollars from the settlement an

j.p. morgan chase, and morgan stanley. that's business news from bloomberg headquarters in new york.for abc 7 news. >> its thursday morning. >> we want to a a check on traffic and weather. adam caskey with us. that's after the break. jim wilson? here is the chase freedom 5% cash back you get on amazon.com purchases. wow! and your kindle fire. thank you. do you have any bubble wrap? activate your 5% cash back at chase.com/freedom captioned by the national captioning institute --www.ncicap.org-- collect thursday morning. we have cloudy skies outside the metro area but no rain falling. we will make it through the majority of the rush hour without being too wet. a few showers in charlottesville and even clipping hagerstown. not everything you see is hitting the ground. i'm skeptical of these echoes at the current time. as the action continues moving east, we will see our fair share of rain in the metro area this midday and into the afternoon. grab the umbrella for later today as opposed to this morning. widespread precipitation from ohio and kentucky and into west virginia. that action w

j.p. morgan chase.ls fargo, allied bank signed on to the deal, which officials said will help up to a million struggling homeowners. they agreed to use $17 billion to reduce mortgage principle for a lot of them. cuts of up to $20,000 or so to help them avoid foreclosure. especially those who owe more than the value of their homes. the banks will use $3 billion to lower interest rates for thousands more. and $5 billion will go to pay small settlements, $1,500 to $2,000 to 700,000 more families that lost their homes in foreclosure legitimately, but possibly without due process. as well as for state and federal penalties and debt counseling programs. officials said the settlement would set a precedent for helping millions more borrowers looking for better loan terms to help them keep their homes. >> i believe that this agreement will eventually make widespread principle reduction throughout the country commonplace. >> robo signing czar, joseph smith, the former banking commissioner of north carolina will m

j.p. morgan chase, citybank and allied financial. they have reportedly agreed to pay 25 million to help people in trouble with their mortgages, in exchange from immunity of a narrow category of lawsuits regarding foreclosure papers. however the door would still be open for other litigation. >>> and stocks back in positive territory today. >>> they came as they appeared to close in on the cost cutting deal, to avoid defaulting. still, the dow added 5 points, nasdaq up by 11. >>> and accused of attempting to murder a federal officer. why those who know the suspect are so surprised. >>> and i'm back here in just ten minutes, you saw what the fog did this morning up around the napa area, there will be more fog for the morning commute. i'll have the location ♪ [ male announcer ] for our families... our neighbors... and our communities... america's beverage companies have created a wide range of new choices. developing smaller portion sizes and more low- & no-calorie beverages... adding clear calorie labels so you know exactly what you're

j.p. morgan chase processes transactions from largest to smallest instead of chronologically.nt balances to fall feationer leading to overdraft fees. more than 30 several have settled including bank of america which. too many kids inhaling second hand smoke in darr's. according to fares of its kind study in the centers for disease control and prevention. about 1 in 5 middle and high school students says that he or she recently was in a car where somebody smoked. researchers linked second hand smoke to all sorts of health problems in children. they say it's especially bad in enclosed cars and still can be toxic even if you roll the windows down. four states already ban smoking in cars that contain children. now government scientists are calling for more states to crackdown. a recommendation that has critics really fires fired up. jonathan serrie with the news in our atlanta newsroom tonight. what's exactly where does the debate stand? >> yeah, well, shep, critics don't like the idea of government being able to legislate what you do inside your private automobile. especially whe

j.p. morgan chase and wells fargo accusing them of fraud and deceit when using an electronic mortgage registrying this bizarre and complex end around, the bank saved $2 billion in fees. what do we know now? we now know what we always suspected that the superpacs are a way for the wealthy to funnel massive amounts of cash into elections. we know that pro romney superpac got 86% of donations over $100,000. and the obama supporting superpac is barely raking in the dough with $4 million in campaigns. even without being able to rely on million dollar checks last year the president's campaign raised $125 million but impressively nearly half of that is from donations of $200 or less. the small dollar donations account for 9% of mitt romney's total hall. >>> mike daisy who joined us last week has inspired apple consumers to protest unfair labor practices in china. after listening to a practice, one apple user wrote an open letter to apple writing you have supposed to think different. i want to use and love the products you make because they are changing the world but i want to know when i buy products

j.p. morgan chase ceo jamie dimon says breaking up the bank will not unlock any values speaking at the investors' conference. dimon says the company's focus will be to navigate regulations and capital requirements. apple is now a half trillion dollar company. it is the sixth stock to ever cross that threshold. next week uponael's expected to unveil its next-generation ipad. it is expected to have a quad-core processor with the latest 4g technology and we've crunched the numbers. if apple were a country, larry, it would be the 20th largest economy. back to you. >> and a rather efficient one, at that. many thanks, w nbc's jonathan dienst. coming up on kudlow, a market milestone, dow 13,000 and holding up pretty well. first time we've hit it since may 2008. we'll talk about a market momentum. we have jimmy rogers and mike holland and steve grasso. stay with us, please. >> welcome back to "the kudlow report." i'm larry kudlow. at the top of this half hour let's do some stock market work. good day for the markets. dow settled above 13,000. that's the first time since may 2008. s&p 500 above the t-137

j.p. morgan chase, and morgan stanley.orts that general motors had its highest profit ever last quarter. full-year revenue rose 11%. the company says union workers will get $7,000 profit sharing checks. those are some of the latest headlines on c-span radio. [video clip] >> we have a country where millions of innocent people of had to go to prison. they have put bars on their own windows and doors because we have abandoned their neighborhood's decline. i cannot live with that. our neighborhoods should be safe. the children should be able to play in the streets, and you and i can fix that together. >> as candidates campaign for president this year, we look back of 14 men who ran for the office and lost. watch the videos at c- span.org/thecontendors. >> i believe the destiny of america is always safer in the hands of people than in the conference rooms of any elite. let us get our country the chance to elect a government that will see and speak the truth, for this is a time for the truth in the life of this country. >> c-spa

j.p. morgan chase, wells fargo, citibank, an ally.this $37 million deal will help about 1 million home owners that are under water. it will help them to refinance, and some who were foreclosed upon will receive a $5,000 check. this settlement grants immunity from civil lawsuits brought by state. there is word that bankamerica said that they will be cutting 450 jobs in concord. the closing is expected to happen in may. employees who lose their jobs in the bank's concern--can apply for other jobs or may be able to get a settlement. >> darya: we will have information on new claims for jobless benefits. later freddie mac reports and the opening bell is just about an hour-and-a-half away. we are keeping our eye on the stock futures they are now mixed. political parties and greece are negotiating and yesterday's stocks managed to close higher. the dow rose almost 6 points. >> mark: new this morning, 1400's do dental be greeted by new teachers when they return to class today. this comes after the arrest of two longtime teachers the school ha