j.p. morgan wall street executive to be his chief of staff. and he tapped the c.e.o. of america's fourth largest corporation to head as council on jobs and competitiveness that's jeff immelt of general electric i'm confident that they'll generate good ideas about how we can spur hiring educate our workers to compete in the twenty first century and attract the best jobs and businesses to america rather than seeing them spring up overseas but optimism can't over. become reality what's good for a company like g.e. isn't necessarily what's good for america and that goes for any company but staring powerful corporate money and interests in the face you don't hear the president saying that this guy is running for reelection nor the mainstream media beholden to their corporate owners the people criticizing corporations it's all about the bottom line find themselves locked out of the conversation like these plant workers fighting their company to keep their medical benefits they argue when it comes to u.s. corporations the priorities are this so it's about profits over people

j.p. morgan goldman sachs and wall street they're basically they want to get out of the paper game they want to get out of the vienna currency game time do they want to control the stuff that they want to control the food they want to control the industrial metals they want to control the precious mines in this decision that was made at least by by blights my service in the end of two thousand to two thousand and seven. two thousand and six because they know that the whole model of credit derivatives is going to explode you don't look at the g.p. morgan she saved the bank she said to t.p. morgan bank because her and her team then had the expertise to see that all this model of credit default swaps all the algorithmic smoko were fake were false so they didn't went into the toxic into su primes that's wired to was a book written about jamie dimon called you know the last man standing of course i mean they knew who knew it could do a whole thing has got to explode so did they were not nuts the g.p. morgan chase didn't went into the surprise stocks and stuff so do i don't claim the right claimed

taxpayers on the hook for seven hundred eighty seven billion dollars and bailout money for wall street and j.p. morgan chase was one of those bailout recipients they've since recovered from the economic collapse but here is the work part the bank is now making millions thanks to unemployed americans living on food stamps artie's marina portnoy has more. americans are generally known for their healthy appetite eat what they crave while others like gabrielle jemma can't use the food stamps here for me to express of only eat what is affordable is there a way to give me two dollars worth. of these really for the sixty one year old is unemployed and maintains a monthly food budget of two hundred dollars gabrielle is among the forty three million americans relying on federal food subsidy here's. the electronic benefit transfer card allows food stamp recipients to spend their allowance the plastic lifeline for the hungry and unemployed is also a money maker for j.p. morgan chase the largest processor of food stamp benefits in the u.s. meaning an increase in food stamp recipients equals more profit for the in

but some of wall street's heaviest hitters, including wells fargo and 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 restructu

j.p. morgan chase jamie dimon got seventeen million in bonuses. everybody is ok we're here because of wall street reckless gambling angry ok that is why we're all here people are suffering as defensive protesting turn in two weeks the realization of being left to fend for themselves this hit many when the president took office there's this feeling that some day the president is going to come in and just see everybody people feel that way and want to feel like they have to fight for themselves and some are beginning to stress if the massive uprising continues to be ignored the tide could turn on obama president obama will not win two thousand and twelve without states like wisconsin a middle class that was forced to rise up is not going to get tired even if the media gets tired i think we'll still be here until it's done. an end to the battle of hoopers is nowhere in sight but it opened up names that are only going to heal and then america now so divided along political and class lines is this the truth about fourteen madison wisconsin and that does it for now but for more on the stories we covere

entirely debt driven by you know the equivalent of the taliban on wall street the financial terrorist the goldman sachs and j.p. morgan i think more per more to the point is that fifty cents of every tax dollar goes to the programs that are failing on any anyway a look at it now ron paul is a contender for president presumably coming up in the next election he thinks that it's possible to shut down most of the military bases around the world and shut down a lot of the military industrial complex is that a good way to go in your opinion i think certainly there's overstretch in terms of overseas presence by different measures there somewhere between seven hundred and over thousand military bases around the world i think a lot of those could be reeled back you know they created to make it easier to intervene in various places but it's not clear that we want to be able to do that in short notice and i think we could use a little more thought into liberation before we go into wars of occupation as happened in iraq for example which was facilitated by u.s. access to military bases in the persian gulf back in during the iraq

j.p. morgan what they want is to increase the number of customers big banks these wall street banks they seem to get away with the with murder get away with anything there does not seem to be just those desires on the part of the state governments to really do anything about this. brief look now at some other stories dominating world news this friday a suicide car bombing in the eastern afghan city of course has killed at least eleven people including two police officers and wounded thirty others the incident took place at a roadside checkpoint police say they grew suspicious of the bomber and opened fire prompting him that made explosives officials have blamed the taliban who frequently target security checkpoints. there's been a second day of violence in southeastern turkey after riots marked the twelfth anniversary of the capture of a prominent kurdish rebel leader protesters hurled stones and petrol bombs that probably in the city of jarvik here over spotted with tear gas and water cannons several people were arrested protesters accused security forces of being too heavy handed during dem

j.p. morgan what they want is to increase the number of customers big banks the wall street banks they seem to get away with the with murder get away with anything there does not seem to be just this desire on the part of the state governments to really do anything about this. taking a look now at some other stories making headlines across the globe a suicide car bombing in eastern africa and city of khost has killed at least eleven people including two police officers and wounded thirty others the incident happened at a roadside checkpoint police say they were suspicious of the bomber and opened fire prompting him to detonate his explosives authorities say the death toll is expected to rise the. second day of violence in southeastern turkey after the riots marked the twelfth anniversary of the capture of a prominent kurdish rebel leader protesters the old stones and molotov cocktails at police in the city of dujiangyan happy you did john back here responding with tear gas and water cannons several people were arrested protesters accused security forces of being too heavy handed during demo

j.p. morgan what they want is to increase the number of customers big banks the these wall street banks they seem to get away with the with murder get away with anything there does not seem to be just this desire on the part of the state governments to really do anything about this. turning now to some other stories making headlines across the globe it's been a second day of violence in southeastern turkey after riots marked the twelfth anniversary of the capture of a prominent pretty rebel leader protestors her old stones and petrol bombs of police in the city of that you're back here who responded with tear gas and water cannons several were arrested protesters accused security forces of being too heavy handed during demonstrations earlier this week over a collins continued imprisonment. opposition parties and candidates in uganda warning of mass protests against fraud as the state gears up for elections as reports of militia groups being formed across the country well some are calling for an egypt style revolt one of the polls been relatively peaceful and contrasts with the elections marr

wall street by big investment firms who destroys dollars and euros and instead hedge their bets on commodities who's winning you've got it goldman sachs j.p. morgan chase the largest holders a lot of 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 almost doubled my challenge of 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 got sick and tired of being sick and tell you we get do we do with 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 tables but it's unclear whether it will also bring them out in the streets here in florida are washington d.c. . now while soaring food a