j.p. morgan chase, and there are three japanese banks. so as we saw in the clip that was presented earlier the libber scandal arose when it was discovered that banks were falsely inflating on or deflating rates to profit from trades or give the the impression that they were more creditworthy than they were. so what they did, in order to show profit, or to show that they were creditworthy. to date, i've highlighted the bank settlements and the supervisor avalos has also called out some of these settlements to date. as of june -- in june 2012 bar clay's paid 264 million to u.k. and u.k. regulators. usb was fined $1.5 billion by u.s., u.k., and swiss regulators in december 2012 and royal bank of disotland was find 612 million by u.s. and u.k. regulators in february of this year. in addition to these three banks, 12 of the 15 remaining banks contributing to the libber calculation are under investigation by u.s. ande and u.s. regulators, commodities trading commission and the u.s. department of justice. >> supervisor avalos: you have on the be

j.p. morgan since obama calls it well managed for wall street bank how many croyde makes well managed it's really really bad they had entire teams of untrained college students who were known within j.p. morgan chase as the burger king kids because they'd get takeout hamburgers and sit down and generate these false statements in order to facilitate foreclosures that was done thousands. upon thousands of times you worked. street give us some insights they'd sell them some trashy investment and then they'd hang up in the expression was i ripped his face off this is their own customers when the oliver stone movie wall street was made and the main hero who you may remember gordon gekko played by michael douglas oliver stone wrote him up as a billiard villain but he was a very popular figure on wall street to the guys there he was a hero and when i did stock real estate speculation. you got ninety percent of the american public out there with little or no net worth i create nothing. i. will blood job over a thousand top because in the ninety's during the last bank crisis. how many buying cars should be in. the current crisis is at least eighty times larger than the savings and loan debacle there are ze

j.p. morgan chase building is there, this is the headquarters, ernst and young is there, dla piper, one of the largest law firms that i'm aware of is there and golden gate university is right next door, this is with 700 law students, that's all in exhibit a of our brief, so it's an area that has a lot of people in the afternoon looking for some lunch, quick lunch, and it's an area that can easily support one more restaurant. now, sorry, not one more restaurant but one food vending establishment, a small food cart. there have been some objections, we acknowledge there's been some objections to ms. pham's request, but we don't think they should carry any weight, there's been objections along the line, people said mixed greens serves vietnamese food, not correct, casa indian eat ri is around, not correct. ms. pham's permit if granted would impose some negative problems on people nearby that it would create a lot of crash, that it would create -- that it would be too noisy, that she would make a mess and not stop people from eating at other tables, that's not a view that we perceive as being a

j.p. morgan chase and the royal bank of scotland but we've also talked about this sort of nexus of london as the center of all these frauds and of course this is i cup which is a london based firm but this was the desk in new jersey which was involved in this crime there are twenty guys i caught desk there controlling interest rate swap prices and they are known as treasure island because they were coining so much money according to the reports the commission is also looking at whether or not.

j.p. morgan chase for example so off to reduce and then make money on the back end betting against them during the two thousand and eight financial crisis will they go to court and they beat the system jamie diamond just got off yesterday in the first trial against dexia so it is rather disheartening that you're seeing again the banks propped up as saviors and when you bring them to court for the really got you the gouged they have all the money in the world to fight it and they barely if ever get a slap on the wrist and of course the structural adjustment policies from the i.m.f. and world bank designed to keep the third world in perpetual poverty to prop up the first one to keep these people as rich as they ever have been and ever will be thank you so much jason and burma's it is true they are well and i thank you for coming on breaking down some of the rhetoric host at unbound radio dot com everyone check it out thanks man thank you. well if you like to see so far check us out on to a good dot coms are going to set there you can watch the latest episode of the show like yesterday's which fe

j.p. morgan chase was dismissed on friday of last week in manhattan and in the ruling on friday judge me only reese buckwild of united states district court in manhattan while acknowledging that her decision quote might be on expected granted the bank's motion to dismiss federal antitrust claims and partly dismissed the plaintiff's claims of commodities manipulation she also dismissed racketeering and state law claims and she dismissed the rico case because she said quote rico cannot be used in cases involving securities based on a provision of the private securities litigation reform act adopted in one nine hundred ninety five to curb abuse of lawsuits abuse of lawsuits against banks brought down that one of these laws were passed after the same as a loan of the eighty's that whole scam where they stole billions from savings and loans they changed the laws so that when they did the same thing they couldn't be prosecuted and that's an example of it the most surprising thing about the statement is that a she says something to the effect of people would be surprised at the outcome of my ruling

j.p. morgan chase and the royal bank of scotland but we've also talked about this sort of nexus of london as the center of all these frauds and of course this is i cup which is a london based firm but this was the desk in new jersey which was involved in this crime there are twenty guys on the i caught desk there controlling interest rate swap prices and they are known as treasure island because they were coining so much money according to the reports the commission is also looking at whether or not employees that i caught may have intentionally delayed publication of swap prices which in theory could give someone bankers cough cough a chance to trade ahead of the information so again max we have another case of front running we see this in high frequency trading we see this in the treasury market time after time their front running all of these big market moving numbers are going to bust and i can. you know that's the thing i don't know what they say is treasure island is out there new jersey. and they're committing fraud but of course the c.e.o. knows about and i forget his name schwart

j.p. morgan chase alone is twenty five point nine four billion dollars so to help bring down the story i was joined earlier by alexis goldstein she is the former v.p. of merrill lynch and deutsche bank she's also a contributor now to the nation where she just wrote an article about the issue she began by explaining why she believes these people are not receiving the compensation that she says they deserve. it's a slap in the face right so if you're someone for example who receive what's called a loan modification so that means the bank said ok we're going to work with you we're going to lower your monthly payment and you were still foreclosed on you get between three hundred and five hundred dollars for your troubles and your tragedy and that's about sixty percent of the people who will be receiving money for this so it's just a paltry amount and explain and put gotten that kind of money into context how much more these people actually out. well there out you know they were foreclosed on they lost their homes so it depends on the value of their home but we're talking hundreds of thousands of

j.p. morgan chase and the royal bank of scotland but we've also talked about this sort of nexus of london as the center of all these frauds and of course this is i cup which is a london based firm but this was the desk in new jersey which was involved in this crime there are twenty guys on the i caught desk there controlling interest rate swap prices and they are known as treasure island because they were coining so much money according to the reports the commission is also looking at whether or not employees that i may have intentionally delayed publication of swap prices which in theory could give someone bankers cough cough a chance to trade ahead of the information so again max we have another case of front running we see this in high frequency trading we see this in the treasury market time after time there front running all of these big market moving numbers yeah i'm going to boston i can. you know that's the thing i don't know what they say is treasure island is out there new jersey and they're committing fraud but of course the c.e.o. knows about get his name schwartzman or someth

j.p. morgan chase goldman sachs etc were lying both to regulators as well there as to their customers so what makes flying of hedge fund managers really that unique or is it where you're making a good point hedge funds exist also inside of the large financial institutions they call proprietary trading desk but they're basically the same thing what makes them together what makes them incredibly unique is there are unbelievably dangerous to the rest of the economy they are the ones that are outside the banks are have very few regulations on them so and what they do is basically proprietary so we don't know what it is they're doing we don't know what markets they're jumping in and out of we don't know how the details of how they could be destabilizing the economy we don't know until after it happens and i think something's got to be done about it now one of the people that you actually brought up is going to say host jim cramer he was a hedge fund manager for quite a long amount of time and he talked at length and to the surprise of a lot of people about just what he did when he was managing thi

j.p. morgan chase and u.b.s. ag both of which have reached multiple settlements was as easy over their fraudulent activities oh and she also gets forty two thousand five hundred dollars a month forty two thousand dollars a month in retirement plan money for the night from her old firm which continues to represent shady bankers so she has a direct interest in the firm doing well and the firm only does well if the shady banker clients continue to do out that is such a blatant conflict of interest that mary jo decided what she would do would be to take a lump sum payment instead of monthly payments for the next four years while she had the pez the c. but then she goes right back to monthly payments so that's a total joke her husband also has professional ties to shady financial companies including goldman sachs you can't make this stuff up too i don't ranges there is so much conflict of interest it is staggering it is criminal it makes me want to barf and yet here is obama making gosh darn statements about how we re

j.p. morgan chase expected to make more money from the wealthier clients.ere the money is, after all. wells fargo net income should rise thanks to the housing comeback and all of the mortgages it's been riding. airbus breaks out on the final assembly plant in mobile, alabama, this week and washington will put out the airline quality ratings as the performance report on the 14 biggest airlines in the u.s. the senate is coming back from the two-week holiday. gun control will be the number one topic of business this week and march madness will end with the national championship game monday night. i'm tyler matheson. get all of your business news on cnbc. >>> get all of your business and tech news before the bell weekdays on "today in the bay" starting at 4:30 in the morning. if you get frustrated waiting for your drink at the bar. there is an app for that. two virginia tech students have developed an app called drink up. >> it selects the number of drinks you want, and pay for it all without having to struggle to order from the bartender. >> you walk into the

j.p. morgan chase and two hedge funds.y're not going to give a damn about newspaper and editorial integrity. they'll be like koch brothers are paying more, take it. >> they're going to care what's in that newspaper as the private equity company that bought the twinkie cared what was inside it. you talk about rich guys buying newspapers cancer patients, aids patients, sick people are all paying for william randolph hearst making marijuana illegal. cenk: they're not buying the chicago tribune because they're interested in profit. these newspapers are bleeding money. they're buying it for the prop began at a marketing. i got to leave it there. we've got jason collins first interview, watershed moment. we'll discuss it when we come back. >> jack, how old are you? >> nine. >> this is what 27 tons of marijuana looks like. (vo) with award winning documentaries that take you inside the headlines, way inside. (vo) from the underworld, to the world of privilege. >> everyone in michael jackson's life was out to use him. (vo) no one b

j.p. morgan chase, both reporting record profits and lower revenues. this week we'll hear from more big lenders including bank of america, citigroup, morgan stanley and pnc. also reporting this week, big names like general electric, intel, american express, mcdonald's and with soda sales falling, investors will be closely watching the results from those big titans, coca-cola and pepsico. we'll get a new update from home construction in march which may top a sharp rise in housing starts and we'll look at consumer prices whether inflation is still in check. finally, opening bids will be taken this week for handwritten lyrics, personal letters, but even a library congress, for the song good vibe eggs and all of that beach boys memorabilia is expected to fetch $10 million. what a great song that was "good vibrations." i'm tyler matheson. get all your business news on cnbc. >>> get your business and tech news weekdays on "today in the bay" starting at 4:30. we'll be right back. >>> child care is often a juggling act for parents. when normal arrangements fal

j.p. morgan chase was really to blame a downgrade of the country's equities because it didn't like gallons problems didn't plans as a result the russian stocks are now the cheapest among the twenty one emerging markets strung by bloomberg. and speaking of downgrades the fitch ratings agency has slapped the united kingdom with a downgrade like late last week the move came soon after moody's slashed u.k.'s rating citing weaker economic and fiscal outlook they had an independent ratings agency reuss rating richard haynesworth agrees with the downgrade but questions the entire ratings system. i think that the credit rating system in the world is flawed we have three big companies which have ninety eight percent one thousandth of the market and all of them are based in one town in new york after all a credit rating assessment of the future. when you start making judgments then you rely on the individuals when you rely on individuals a lot depends on where they are if they're in the united states they have certain views about the united states being the best in the world they have their views ab

j.p. morgan chase, 2010 j.p. morgan chase operated 83 subsidiaries incorporated in offshore tax havens to avoid paying $4.9 billion in u.s. taxes. $4.9 billion they avoided paying. goldman sachs, another one of the largest financial institutions in the country, in 2010 goldman sachs operated 39 subsidiaries in offshore tax havens to avoid an estimated $3.3 billion in u.s. taxes. goldman sachs. citigroup, another financial institution bailed out by the taxpayers of this country, citigroup has paid no federal income taxes for the last five years. that's not bad. many people out there watching us say that's pretty good. how do you avoid paying income taxes when you're one of the largest corporations in america for a five-year period? that's pretty good. general electric during the last five years general electric made $81 billion in profits. not too shabby. not only has general electric avoided paying federal income taxes during these years, it received a tax rebate of $3 billion from the i.r.s.. g.e. has at least 14

j.p. morgan chase in wells fargo's come out with their earnings reports. gould has launched a tool that lets users decide what happens with their e-mail, google + and other accounts at the they die or become an active on line for any other reason. it's called an active account manager and the feature lets users of google services tel the company what to do with their e-mail messages and other data after account becomes an active. the was users can choose to delete the data after three, six or 12 months of inactivity, or they can choose people to receive their data. if you crossed a car with a motorcycle it might look something like this. you're looking at a newly designed vehicle code that could be on the streets as early as next year. it is made by elio motors and is generally classified as a motorcycle. is designer says the three wheeled vehicle drives more like a car. it seems to be bleeding go over 100 mi. an hour. it the most intriguing part, aching about 672 mi. on one tank of gas. the vehicle is expected on sale in 2014 for about $6,800. an updat am

j.p. morgan chase, and bank of america. three weeks ago american express also admitted that they were hacked. cyberattacks are becoming more sophisticated. instead of merely disrupting commerce and information, it's focused on destroyed our nation's dagetal systems, destroying our national security, infrastructure, and financial systems that americans depend on every day. it is imperative we partner with private companies to discover and prevent more attacks. i reserve the balance of my time, and i yield to mr. maffei, wo minutes of my time. i reserve the balance of my time. the speaker pro tempore: the gentlelady reserves. for what purpose does the -- the chair: the gentlelady reserves. for what purpose does the gentleman from michigan seek recognition? mr. rogers: mr. chairman, mile while i do not oppose the amendment, i ask unanimous consent to control the time in opposition. the chair: without objection, the gentleman is recognized for five minutes. mr. rogers: i recognize myself for as much time as i my i might consume

j.p. morgan chase following the trading mess.anking officer says co-chief executive officer is leaving the company to become payment processor for his data. matt will assume the role of coo. not a household name by any means, but someone you would know if you're in think bahhing circles. >> you always hear the trusted lieutenant, but this guy is and was of jamie dimmon. train's running on time, and that's what with he did at j.p. morgan. >> he could make a killing on the first day. >> he being. >> the first day -- he's the guy who ran comcast who wanted to run first aid, michael -- i'm forgetting his name. he ran first data for a while and comcast ceo. >> you can understand why he would leave, but what's interesting is, of course, you've had enormous turnover at management and jp morgan since the london whale. >> the papers made it sound like turmoil. frankly, we wanted change because we wanted to believe that the people who may have been involved are gone. >> i don't think this gentleman got -- this gentleman got a great job, an

j.p. morgan, chase, citigroup, wells fargo, bank of america, and others. the fact of the matter is that state actors, terrorist organizations, and criminal groups, individuals and countless persons that describe themselves as hackers attack our private and public computer networks thousands of times every day. many foreign hackers seek to steal valuable trade secrets which results in the loss of countless american jobs. there are estimates that have been quoted of loss from economic espionage that range as upwards as high as $400 million a year. unfortunately the same vulnerabilities used to steal trade secrets can be used to attack the critical infrastructure we depend on every day. our economy, our power grids, and our defenses are increasingly reliant on computers and network integration. these networks power our homes, provide our clean water, protect our bank accounts, our national security information, and manage other critical services. in addition to intellectual property and national security intelligence, personal finance, health care, and other