j.p. morgan chase, and germany's finance minister. futures indicate higher.ove" is next. ♪ guy: welcome to "on the move." we are counting it down to the european open this friday. i'm guy johnson alongside hans nichols in germany. intervention watch. the japanese getting ready to step in if the yen sees a surged 105. the fed four. yellen, bernanke, greenspan, and boca head to the stage in an historic conversation. certainly wouldn't describe this as a bubble economy.

j.p. morgan chase, and bank of america. three banks, nearly $10 trillion of risk. now, these banks will happily suck down the profits when their high-stakes bets work out and they will just as happily turn to the taxpayers to bail them out if there is a problem. all of this because wall street lobbyists persuaded congress to do just one little favor for them. meanwhile, last year, the commodity futures trading commission final lished a rule that it was required to write under dodd-frank. the rule was about margin, the amount of money that financial institutions have to put up when they enter into a derivatives contract. essentially, the cftc rule was about making sure that financial institutions had enough money to pay off on their derivative bets, if they bet wrong. i.t. th-- it's the kind of monet keeps the taxpayers from needing to bail them out. the cftc rule was exceeding by weak, far weaker than the one they had nucially proposed. -- initially proposed. changes in that rule came after months of intense lobbying from giant banks that were worried that a strong

j.p. morgan chase beat estimates.uestion, has the bar been set to low for the bank earnings season? , alsog demand for autos restaurants leading to a surprise drop in march retail sales. why are u.s. consumers holding back and is this a long-term trend? bigfacebook is putting a emphasis on virtual reality. we speak to the social network's chief technology officer. we are one hour away from the close of trading. at the markets desk julie hyman has the latest.

j.p. morgan chase paid $13 billion three years ago, and bank of america coughed up a whopping $16.6 billiondman admitted that in bundling mortgages from sub- prime loan specialists, like countrywide financial, and then selling them to investors as bonds, it largely failed to address financial problems it knew about. in one period during august 2006, goldman found what it f lled "an unusually high percentage of loans with credit acd compliance defects." when one transaction manager was asked by goldman officials, "how ?" we know that we caught everything?" he answered, "we don't." another responded, "depends on what you mean by "everything." and when an outside analyst wrote a positive review of countrywide, the head of due diligence at goldman wrote in an ivmail, "if they only knew." this was a civil case, so no one is going to jail, and that's likely to add to the anger, according to robert weissman of public citizen, an advocacy group. >> millions of people were thrown out of jobs. millions of people lost their homes. ofmmunities were destroyed, all because of wrongdoing, yet they escape

j.p. morgan chase and goldman sachs didn't care about that. the bankruptcy bill was lobbied through by the community bankers and the credit unions, which is why it was so hard to defeat because they have a lot of clout. but if you look at the issues, well let me just quote paul krugman, who was the best liberal -- >> no one's idea of a conservative. >> and a great commentator. go back and read his columns in 2008 and he documented that she was the barack obama's left -- >> left. >> -- on domestic policy. i do have some questions about her on foreign policy. >> right. >> also president obama. i think the time has come. i like the president's initial notion to get out of iraq and afghanistan. he's getting pressure to go back in. there's nothing we can do there. the notion that we can by military force, make coherent society -- >> yeah. >> -- for the people who are determined to hate each other. >> and you think her position on those issues is different than his? >> no, it's the same as his and i want them both to pull back. >> wasn't she also la

j.p. morgan chase's history.hat this is showing to me is that there is real benefit in this kind of economy and this kind of dynamic on wall street for a more diversified base of revenues. i think you are seeing that with j.p. morgan chase, who is sort of hitting on all cylinders compared to competitors. you see the weakness in the business model of a goldman sachs or morgan stanley, which is more monoline in that regard. i still think happy days are in front of us for wall street, believe or not. factorthe limitation still remains that the fed will not allow any m&a activity among the big banks. i'm sure that would be a subject that lots of people discuss on the political trail. that would really help a goldman sachs or morgan stanley at this point. scarlet: that was bill cohen speaking earlier today. alix: oil rising for the first time in five days over a 200 day moving average for wti and brent. we're going to talk about what is in it among a supply drop from opec's largest producers. we will be right back aft

j.p. morgan chase, $13 billion three years ago.bank of america coughed up a whopping $16.6 billion in 2014. goldman admitted that in bundling mortgages from subprime loan specialists like countrywide financial and selling them to investors as bonds it largely failed to address financial problems it knew about. in one period during august 2006, goldman found what it called an unusually high percentage of loans with credit and compliance defects. when one transaction manager was do we know that we caught everything? he answered, we don't. another responded, depend on what you mean by everything. and when an outside analyst wrote a positive review of countrywide, the head of due diligence at goldman wrote in an e-mail, if they only knew. this was a civil case, so no one is going to jail. that's likely to add to the anger. according to robert weissman of public citizen an advocacy group. >> millions of people were thrown out of jobs. millions of people lost their homes. communities were destroyed. all because of their wrongdoing. yet t

j.p. morgan chase leading financial shares higher.as well yesterday, numbers come out and their shares gain. you see it operate today in both directions. highere got the airlines in response to the delta, and on the other hand, this maker is down here in seagate'eliminate figures are not going over well. where it starts to get interesting, you think if earnings are coming down and you are looking at a 7% drop or so out of being reported so far, you have to figure price-earnings ratio will get affected by that. it starts to get interesting in terms of valuation. noting today the thing called the rule of 20. in theomething created 1970's, the days when inflation was running rampant. plusook at consumer prices the price ratio and if it is around 20, you figure by that indicator, it is fairly valued. carol: walk us through. the rule of 20. again, what are we seeing here? dave: at the inflation rate, consumer prices year-over-year, the ratio on the s&p 500. if that is around 20, at least by this rule, it should be a fairly valued stock mar

j.p. morgan chase beat estimates. it begs the question, has the bar been set to low for the bank earnings season? , alsog demand for autos restaurants leading to a surprise drop in march retail sales. why are u.s. consumers holding back and is this a long-term trend? bigfacebook is putting a emphasis on virtual reality. we speak to the social network's chief technology officer. we are one hour away from the close of trading. at the markets desk julie hyman has the latest. julie: thank you. it has been steady. it is not just j.p. morgan, but china as well. saw the biggest year-over-year gain in exports year over year in china. a little bit of reviving economic demand potentially there. some mixed economic data in the u.s.. neither of those really derailing stocks from their upward climb that we have seen in today's session. it is financials leading the way. take a look. groups, groupsal that are economically sensitive, to what is going on here in the u.s. or in china. industrials, and technology also on the rise, the d

j.p. morgan chase was in double digits at 13%. nley was recovering so it's headed back toward double digits. goldman sachs went the other direction. when i put the print in here, we will see it go lower. goldman sachs is getting down there when it's return on tangible equities with banks like citigroup and bank of america. that's not a place you want to be as a wall street bank. david: what about the return on equity? >> it's the biggest question there is for these ranks -- how do you stay above 10%? goldman sachs has been above 10% over the last 10 years. this quarter, they are closer to 6%. that is not going to cut it and morgan stanley has set a goal to get to 9% by the end of this year. they have taken a long time to get there. this is why the tanks are under some of rusher and why their stocks are trading below book -- book value. they are not getting the returns that investors need. whatit's hard to judge goldman sachs is doing premarket. quarter, the worst-performing stock on the dow. anything that tells you investors will r

j.p. morgan chase.us ruling the court clarified labor laws stating there is no reason to deny a worker a chair especially if they are stationary and performing tasks that can be completed while sitting such as cashiers and bank tellers. >>> it's the end of an era for longtime subscribers to the oakland tribune and san jose mercury news. the last daily print edition of the tribune and mercury news came off the presses today. starting tomorrow, the tribune and contra costa times will be consolidated into the east bay times. the san jose mercury news is merging with the san mateo times and will simply be known as the mercury news. the oakland tribune will still print a weekly edition. the umbrella company that owns the papers, bay area news group is downsizing its operations and staff. >>> the chp says a what that tried to out run a chp motorcycle officer on the bay bridge may have snuck onto the bridge from treasure island. the dog was running furiously, csf the officer towards san francisco yesterday mor

j.p. morgan chase and citibank. >> by accessing these external funds we will spur economic growth, and providertunities to our people. >> reporter: was the pitch a lie?or >> as it turned out now, the pitch and what exactly transpired are very different. >> reporter: what transpired was violent protests, because the treasury was so empty, thee government couldn't issue student loans or pay teachers' salaries.en >> if you just borrowed $2 billion why are we in this problem?on >> reporter: late last year the treasury released documents it called proof the money arrived in kenya, according to kenya's top anti-corruption officer, ha'la'khe waqo. >> all the money that was intended to be brought to kenya has been brought back to kenya. >> reporter: but owino says those documents are fake. the invoice numbers seem falsified. >> for instance, start at number 25, the second one is going the wrong way and the third one is number 25, which is the same as the first one. >> reporter: and another document is redacted, hiding the recipient of the money. >> it definitely casts doubt immediately on whether they

j.p. morgan-chase, bank of america, wells fargo and others have until october first to revise the plans.gest u.s. coal mining company filed for federal bankruptcy protection. peabody energy, based in st. louis, has seen its stock value cut in half in the past year. it's being pressed by cheap natural gas and tougher environmental regulations. several other major coal companies have also made bankruptcy filings in recents months. and wall street surged again as financial stocks rebounded some. the dow jones industrial average gained 187 points to close at 17,908. the nasdaq rose 75 points, and the s&p 500 added 20. still to come on the newshour: a tale of two new yorks-- courting the state's urban and rural voters; a major windfall m for cancer research courtesy of facebook's first president; how science helped a quadriplegic man move his fingers, and muchh more. >> woodruff: first, the latest from the presidential campaign. it is less than a week to go until voters in new york state have their say, and the candidates hit the hustings again today. a major east coast job action was a main

j.p. morgan chase, and he was saying there is no late in intervening at the moment.e believes the currency will rise to 103 per dollar. .he yen is the red line i chose options on volatility links to yen. crossng the dollar/yen searching to 84% above average volume yesterday. it looks like it might rise. people are getting more anxious about the risks and piling into yen. let's get to the jp morgan chief asset strategist. stephanie, it is great to have you on the program. how do we price risk? it seems like the havens cannot get a break. janet yellen is not giving confidence. stephanie: there's interesting stuff to say about the yen. as an economist, i like to see fundamentals here at it might be bad news for japan. i think it is driving that back up in the yen. i don't think we learned anything we didn't know. people that are reassured the comments that we heard from janet yellen last week and her economic club speech were in line with the tone of the meeting. they are focused on the same asymmetry. when you're closer to the lower band you have more room to increase

j.p. morgan chase & co, bcg henderson, ubs, and bny mellon. thank you for your support.applause] i will say quickly, throughout our history here, i-house has convened thought leaders on international affairs impacting our demographic, global millennials. tonight's event continues that legacy, not just because of the panels of speakers. it is the inaugural event of the paul volcker speaker program, which was named in honor of paul volcker and his service to i-house as a trustee and on the board. this is the first inaugural paul volker speaker program. i think we have done him justice with this turnout. thank you. [applause] i would like to turn quickly to what will happen on the stage momentarily. this historic conversation has less to do with interest rates, whether they rise and fall, and at what percentage, more to do with the fed chair perspective on leadership and the values in their decision-making. in other words, this is a focus on values, which is i-house's mission. we hope you will agree this conversation and many more like it to come in the future demonstrates

j.p. morgan chase, earns $27 million in 2015, so 0.3% of that. angie: that is a tough job for that pay.the way it is in china. thank you for that. coming up next, we will take a look at the key economic crisisd ask about a debt in australia and whether it is overblown. two.t up" returns and ♪ >> it is 7:16 a.m. and hong kong , these of the stories making headlines. indian police considering murder charges against people arrested in connection with the collapsed ,verpass, 26 people killed officials say building regulations had been ignored. androadway was being built the project was years behind schedule. more data from the missing malaysia airlines plane. it is said to be from the interior of the aircraft. last july, debris washed up on reunion island, and officials say to bring other parts in h370.bique are from m north korea says it has tested a new antiaircraft missile system. state tv shows kim jong on watching the launches, but it's not possible to say where or when the pictures were taken. south korean officials the tech did a rocket launch, but it is not clear if it is linked to

j.p. morgan chase with a 20 percent high yield return those are the people that can. to the mission to do theirs development i think you the people have to protect the people from where we are at today in fact, i'm here to talk about something that is omitted that needs to be added to the law the land dedication currently is 35 percent land dedication which means land and no building and no housing and no funds dedicated to ever build it and we saw with the projects on mission street we're kate wade the 7 year for the land dedication site to ever get built i think you need to add the arithmetical formula because 35 percent is equal to 18 percent with the developer building and it will increase the developers - the same math needs to be reformed to the dedication that is silent in this proposal. >> hello commissioners with count neighborhoods association van ness neighborhood alliance we support the legislation as amended under the exclusive summary with there's a lot more work to do on the density bonus issue we know that density bonus passed with no recommendation th

j.p. morgan chase out of miami, bank of america before that, nine here with u.s. government. since i moved to d.c. my level of frustration of policy being created by and those that do not represent our community get really frustrating. so the question question comes from a place of, former -- covered in tattoos, at 11 years old i was was sexually abuse, at 12 i became a sex worker and the sex trade by force. by the time time i was 14 i had 400 sex partners by force and i was drugged. at 16, is living in east l.a. and a trailer, male prostitute on santa monica boulevard and out 18 i was homeless. in san diego doing anything in everything he could to get my next hit of dough. very few people people talk about the sex trade, sexual abuse, and the many repercussions that come from that in our communities. what would you recommend for somebody like me who lived that life, who did go to harvard after that, who did go to berkeley, who had that mother who stood by me no matter what to get that story out? so i keep being told tell your story, tell your story. i'm story. i'm not going

j.p. morgan chase & co, bcg henderson, ubs, and bny mellon. thank you for your support. [applause] i will say quickly, throughout our history here, i-house has convened thought leaders on international affairs impacting our demographic, global millennials. tonight's event continues that legacy, not just because of the panels of speakers. it is the inaugural event of the paul volcker speaker program, which was named in honor of paul volcker and his service to i -house as a trustee and on the board. this is the first inaugural paul volker speaker program. i think we have done him justice with this turnout. thank you. [applause] i would like to turn quickly to what will happen on the stage momentarily. this historic conversation has less to do with interest rates, whether they rise and fall, and at what percentage, more to do with the fed chair perspective on leadership and the values in their decision-making. in other words, this is a focus on values, which is i-house's mission. we hope you will agree this conversation and many more like it to come in the future demonstrat

j.p. morgan chase.futures are indicating a higher opening, and the dow is opening up 25 points and the s&p 500 in positive territory. clint howard, brother of director ron howard is well-known for his long hollywood career, playing parts in popular movies like austin powers, apollo 13 and "water boy." >> colonel, take a look at this radar. >> what is it, son? >> i don't know, sir, but it looks like a giant-- >> and joe montana. >> joe montana was a quarterback, you idiot. >> i said joe montanya. >> not reading at all. tag one at 725 psi and falling, fuel cells one and three are-- oh, boy, what's going on here? let me get back to you. maria: he's also making waves on the political scene and endorsing texas senator ted cruz for the white house. clint howard joins me in los angeles. good to have you on the program, welcome. good morning, thank you for having me. maria: congratulations on your long career. why are you endorsing ted cruz? >> well, i'm conservative and from the get-go senator cruz was the mos

j.p. morgan chase with a 20 percent high yield return those are the people that can. to the mission to do theirs development i think you the people have to protect the people from where we are at today in fact, i'm here to talk about something that is omitted that needs to be added to the law the land dedication currently is 35 percent land dedication which means land and no building and no housing and no funds dedicated to ever build it and we saw with the projects on mission street we're kate wade the 7 year for the land dedication site to ever get built i think you need to add the arithmetical formula because 35 percent is equal to 18 percent with the developer building and it will increase the developers - the same math needs to be reformed to the dedication that is silent in this proposal. >> hello commissioners with count neighborhoods association van ness neighborhood alliance we support the legislation as amended under the exclusive summary with there's a lot more work to do on the density bonus issue we know that density bonus passed with no recommendation th