. >>> and outspoken banker jamie dimon of jpmorgan chase. too big to fail. "the wall street journal report" begins right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's what's making news as we head into a new week on wall street. if investors thought we would be getting a certainty bounce after the election, they thought wrong. in fact, president obama's second-term victory was greeted with stocks second worst day of the year. triple digits again thursday, and figures were mixed thursday. the possibility of a u.s. downgrade if america goes over the so-called fiscal cliff. but said it would wait until after budget negotiations. a downgrade, of course, would make it more expensive for the united states to borrow money. >>> superstorm sandy could provide an economic boost to the auto industry. as many as 250,000 new and used cars may have been ruined by sandy. a loss that could eventually lead to a spike in auto sales. >>> overall consumer borrowing expanded in the month of septembe

my exclusive one on one with jpmorgan chase ceo jamie dimon. you'll want to hear what he thinks about budget crisis, what needs to be done to fix it, and the banking sector. bill. >> well, i'm bill griffeth. we can't wait to hear what jamie dimon has to say about the fiscal cliff. it's the talk of the day. based on wall street's reaction to what president obama and house speaker boehner had to say earlier today, it is clear that investors are not expecting a quick fix. look at the major averages, which are lower since the president spoke two hours ago. the dow is up ten points. it was up 78 at high. down 67 now, up to 12,822. the nasdaq powered higher today by apple. there it goes again. we'll talk about that in a little bit. up 15 points on the nasdaq now at 2910. the s&p 500 index is up about five points at 1382. the market certainly didn't like what the president had to say at 1:00 eastern time. the dow was in positive territory when he began speaking. as you can see from the chart, as the speech progressed, the dow started to fall. it did r

tell me about your take we just heard from jamie dimon about jpmorgan. you own the stock, right? >> i don't own the stock this minute. i'm much more likely to own the stock given the news on the buyback. jamie sounded good. he really sounded resilient, positive. i really expected him to actually, you know, be a little more willing to take on the government. i think he really talked about working together with the government. he had some praise for the president and said he respects him. i think that's a little change of tactic of late and being a little less combative. i hope it's reciprocated by washington. >> you know, i was struck by the talk on capital on the fact that, you know, jpmorgan has to have this 2.5% buffer while, you know, bank of america has 1.5%. others have even lower than that. marty, what's your take on that? >> yes, you have to separate out this sifi impact, which is solely related to the international significance of a company. this isn't related to the quality of the company, the riskiness of the company. this is just their entanglement to the international

. >>> when you think bankers, you think jamie dimon. we will talk regulation politics and policy. back in a moment. [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ ke a closer look... you're the commander-in-chief of your own life. ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> this big thud you heard on wednesday was the stock market plunging having the worst day of the year. its greeting to news for a second term of obama. how can you protect your money? is thi

jamie dimon is the best pick? will go to the lover of jamie dimon. >> i thought it was fast fact or fiction he was my boyfriend. that is the web extra. fiction in the real world. he will not be the secretary of the treasury. >> you did say that he would be probably a good one. >> he would be an excellent choice but i don't see him wanting to do it or him making the offer. >> daniel kraig is stepping down. jamie is walking in. he can't do everything. >> the "new york times" has called him obama's banker. >> that is not a gigantic leap from running jp morgan to treasury secretary. >> you are not going to get the best guy for the job. it would be an absolute disaster working with these people. i don't think jamie dimon can tolerate it. >> i don't think there is a shot he would say yes to it. >> i'm not -- coming up next on "mad money" jim cramer has first crack at it. plus pph has been in faction on wall street but can it continue to control the cat walk? all coming up top of the hour on "mad money." we have your fir

do by physical take it off the market and you're right of satan and as we like every day max ok jamie dimon j.p. morgan is twice as vulnerable to the silver shore as they were two years ago when we launched this campaign now as i said it was psychological but on part of the warriors of the s.l.a. as well were amber you had that campaign as well somebody took out this billboard in times square five hundred dollars silver if you want to that's right it was john lennon put up a billboard in times square five hundred dollars over it if you want it thank you sean so now we guarding this five hundred dollar silver price i think i want to ask rob kirby now we're all what do you think about this can we take silver to five hundred dollars we're skating we're skating on really say tonight one of these days the ice is just going to break and we're not going to just fall into cold water we're going to fall into a blog and was pissed and you see we can achieve five hundred dollars silver stream a short period of time if. but in the meantime we're still skating on thin ice when you see the ice going to b

i think especially jamie dimon.has kind of became a poster child of what most democrats in washington think is the wrong way the government handles wall street. he came with his fortress bank, jpmorgan chase and earlier this year said we should get off the fingers and then we have the london whale situation. i think that demonstrates his bank is much too big for even him to manage. connell: by the way, we have talked about this in the past, the idea of a second obama administration with wall street, when i say we have talked about it in the past, i think we have had you on to talk about the libor scandal and dodd-frank and other things that have come up in the past few years, will it be a more aggressive obama administration or he will be friendlier towards wall street? >> i do not think, one of the big decisions will be who they pick for treasury secretary. i do not think there will be any color you know, get even with wall street. i think the president -- one of the earlier commentators said he is looking down the

morgan and jamie dimon let me ask you about their operations and london according to the volcker rule separating proprietary trading from other forms of trading the london whale loss exposed that j.p. morgan was in fact breaking the law is there going to be any attempt to comply with the law going forward or well jamie done a j.p. morgan continue to break the law on the proprietary desk side of things well they they put those proprietary trades what was. left of that position in the investment bank where supposedly it belongs but that's not to say that they're not putting on new positions in their investment office whether in london or whether in new york the problem is that there's not enough scrutiny by the regulators or by the auditors of what they're actually doing there why they weren't supposed to be doing that kind of activity and in the investment office and so nobody was looking well now they know so what's the excuse when you have j.p. morgan have to have a financial restatement because they have to admit they were even manipulating the trade values after they admitted the l

to continue with the zero interest rate policy because this is what the banks want this is what jamie dimon wants this is what lloyd blankfein wants this is what by. and once so she in particular talks about zero interest rate policy this is a big issue for you you had a big issue against this out policy against the savers in order to appease the speculators so between two thousand and five and two thousand and seven u.s. commercial banks held approximately six point nine seven trillion dollars of interest bearing customer deposits during the past two quarters they held an average of seven point three one trillion during the first period when fed funds rate average four point five percent banks pay their customers an average of thirty nine point six billion dollars of interest per quarter more recently with zirp they paid an average of eight point nine billion in interest per quarter or nearly seventy seven percent less in dollar terms max that's thirty point seven billion dollars per quarter that banks in america are paying less per interest per quarter or one hundred twenty three billion

sachs bankers that are now ruling the wall and finally i want to do a quick headline here about jamie dimon follow up on him diamond best to lead treasury in crisis buffett says so warren buffett was on the charlie rose show where all of these new world order is go to announce what their plans are and he's saying jamie dimon head of j.p. morgan chase is the best man to head the treasury once timothy geithner goes because he says quote if we did run into problems in markets i think he would actually be the best person you could have in the job world leaders would have confidence in him so my question to warren buffett is what about world populations would they have faith in jamie diamond what about the population of jefferson county alabama what about the population of casino italy all wiped out by this man's derivatives and. toxic waste well like warren buffett i'm afeard a friend charlie monger but it just got to suck it up. all right stacy ever thanks so much for being on the kaiser report thank you stay tuned for the second ad talking strike debt andrew ross. you know sometimes you see a

morgan shares and he said that at some point recently so do you think that he's trying to suck up to jamie dimon with a statement like this or do you think he wants jamie diamond out of people you weren't. sure yeah when i when i was at morgan i don't know maybe you can see the difference you know when we go back there it's crazy he probably really he probably really admires him as a. as a as an arc kleptocrat i mean probably respects jamie diamond's ability to extract wealth from the economy through the banking system he's an adroit at it ok and he was i mean i was exceptional he was what's his name's part of the city so but the one thing i want to point out ok so not only in our terms would be horrible i mean he was at the helm of j.p. morgan where he oversaw that huge london whale trading loss being kind of the most notorious lee you know messed up c.e.o. of the year and that even can be awarded but with timothy geithner at least back in the day when that when the ai g. counterparty news came out dimitri i remember going to hearings where members of congress were asking you jamie to our excus

. >>> and we'll ask jamie dimon about that tomorrow. don't miss my exclusive interview with him. down with him tomorrow and find out how he thinks wall street will fare under president obama. that's tomorrow on "closing bell." if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> stocks continue lower. the dow down 82 points. we may have one of the reasons why here in the last few minutes. mandy drury has that story. >> absolutely, bill. we have breaking news from ratings agency standard & poors saying that if they cannot get an agreement on the fiscal cliff before the end of the year, the rating will go down. there's a 50% chance the u.s. will go over that so-called cliff. the good news is their base scenario is there will be an agreement before the ends of the year. that's what we

diamond from tofu married to has over eighty two thousand views max and the synopsis reis as such jamie dimon played by hitler learned said j.p. morgan is bankrupt due to the success of max keiser crash morgan by silver campaign no more silver no more hookers all is lost this scene is from the german who. the downfall. if you will. trying to going to cause design and business you can understand is mr ford. right and we know the ending hitler or in this case jamie diamond takes out a litter employs a second brains out. every story it's a happy hollywood ending. so you know you came up with the slogan crash j.p. morgan by silver and i want to look back in history because actually these sort of slogans have actually achieved major major success and that was stop the duke go for gold and john butler of m four capital who we recently interviewed on keiser report he's the one who first in lighting dust to this movement this was a campaign started by the middle class of britain prior to the eight hundred thirty two reform act which saw basically the house of commons reforms more representation given

or jamie dimon?>> well, i think that might be a big signal. >> rose: appointing jamie dimon as secretary of the treasury? >> i think he'd be terrific because i think he -- if we did run into problems in markets i think he would be the best person you could have. >> rose: he knows that much about markets -- >> and i think world leaders would have confidence. >> rose: so when you see a problem that jamie's had with london and all that, what do you mark that up to? >> if you run a $2 trillion institution -- if i run berkshire for decades, some things are going to wrong go wrong. if you run an army, if you run a church, if you run a government, any large institution people go off the reservation sometimes and sometimes they'll get away with it and when you work in a financial institution you can add a lot of zeros. so, you know, obviously there was a failure of control but there had been failures of control at berkshire. i am going to make mistakes. i hope i minimize and catch them fast but there could b

on silver this is bad news for jamie dimon bad news for blythe masters bad news for j.p. morgan which has doubled its short position in silver to eighteen point five billion that's not counting their naked shorts by the way silver price increase four hundred percent in three years this is from the telegraph and they point out that the silver bull run will continue says investment specialist ian williams of charters treasury silver is about to enter a sustained bull market that will take the price from the current level of thirty two dollars an ounce to one hundred sixty five dollars an ounce and we expect this price to be hit at the end of october twenty fifth teens that's right summer's about to enter a bull market phase that movement right currently from five dollars to thirty two dollars us just a warm up just a little warm up act a little a little a little more baby for the main course the main bull market action to five hundred dollars of those days are over thanks so much for being on the times report thank you max and crass j.p. morgan by silver say ten for the sec

the white house says he spoke with several more ceos this weekend including jamie dimon, warren buffett and tim cook. the president met with top u.s. lawmakers to begin wunl h. budget talk. both sides are saying they're confident they can reach a deficit cutting deal. >> every member of our caucus appreciates that this fiscal cli sis is ever closer. and that's doctor we need to negotiate through the process and make sure we come up with a real solution that will actually solve the problem. >> what i hear is a perceptible change of rhetoric and an invitation to say what we can do for this country. >> senator durbin says republicans appear more willing to try to reach a did deal this tile around compared to previous budget talks. do you think that's the case, michael? >> yes, i do. i think the republicans are caught between a rock and a hard place. the people of the united states have given obama a mandate to see through his agenda and his programs. he's got a lot of know men ten and the complains only control the house. in order to maintain control, they have to play ball with obama othe

i believe jamie dimon was at that gathering. jamie dimon is not at this gathering. the closest thing you have to a banker the ceo of american 3 express is theree john rogers. we should point out the others are ceo s of: >> they are also worried about the debt problem. we have 16 billion dollars in debt -- excuse me, 16 trillion dollars. we wish it was billion. 16 trillion and growing. and so that's what this is all wrapped up on. again the list is kind of usual suspects. jeffrey immelt, somewhat interesting in the sense that behind the scenes he told friends and we were first to report this that he was actually supporting mitt romney. as you know ge gets a lot of perks if the obama administration wins, solar, green energy and stuff, he's the chairman of president jobs council, he's going to be at this thing. sort of the leader of wall street if we had a spokesman would obviously be dimon. dimon was extremely critical of the president, particularly behind the scenes. he basically told people because he's on the federal reserve board, he does not give, you know, in ki

. >> josh, listening to that jamie dimon quote, the notion somehow the president was impugning work ethicnd an enemy of business, will that name finally get laid to rest? can they let it go, as far as i know it was the fat cat comment, the fat cat comment, maybe dodd/frank, which is -- they've been trying to unwind in congress, but really this president hasn't been anti-business and wall street is doing pretty well. will that sword be buried in the ground? >> i don't know if it will be buried in the ground. the main drivers were the hysterical partisan billionaires like sheldon adelson and the koch brothers all whipped up in a furry because of the election. now that's passed and lynn made a point, the obama white house can use these business leaders including wall street leaders who more than any other contingent of the republican party, wants a big grand barg n bargain. a lot support bowles-simpson and can be an ally to the white house and the white house would like them to be allies in this big fight coming ahead. obama is enough of a pragmatist that i think he recognizes that and he's

on that list, billionaire warren buffet, jpmorgan ceo jamie dimon, and apple's tim cook, as well as executives of boeing and costco. the calls were reportedly part of the president's efforts to discuss solutions to the looming end-of-the-year fiscal cliff. while in thailand this weekend, the president, as he put it, was "confident we can get our fiscal situation dealt with." toys 'r' us executives are betting that a growing middle class in china will buy more toys for their children. the toy retailer is launching online sales this week in china, to be followed by a doubling of its 30 brick-and-mortar stores over the next few years. the toys that toys 'r' us is selling will, however, be a little different than the playtime mainstays in the states. china has a higher demand for educational toys such as books, microscopes and building blocks. toy sales in china rose 18% last year. corporate america is holding on to its cash, tightly. a new report reveals 40 of the largest publicly-traded companies plan to hold back on captial investments for the next two years. overall, business investments are d

jamie dimon is getting public praise from billionaire warren buffett.his week on charlie rose, mr. buffett said he thinks mr. dimon could be the "best person for the job" after treasury secretary timothy geithner steps down. mr. buffett notes that dimon could deftly handle another financial crisis, even though jp morgan was forced to take a government bailout during the financial crisis and dimon came under question earlier this year, when the bank lost 6 billion dollars in a trading blunder. cyber monday could almost be re- named "mobile monday." a growing number of consumers used their smartphones and tablets to shop on cyber monday this year. it contributed to an overall bump in sales of 30% from last year. comscore is estimating that sales will reach a whopping 1.5 billion dollars. amazon's kindle fire was the day's most searched-for gift on the web. others that were high in demand were uggs, ipads, the ipod touch, legos, and the wii. some consumers did not get what they bargained for this cyber monday. 132 websites in the u.s. and europe were shut

jamie dimon dude out right here is get all you need to flip massive to do pain on this possessed devil of finance on wall street and you can attack the mood and various locations here and cause serious general told discomfort so it's right there oh dear me that's gotta hurt buddy or else go ahead and i'm right here in the head right here near your blade masters a smart brain cells are going to be out if you know that. cars report just a bit later in the day here on our city medics in canada have come up with a very explicit way of warning against the health risks of obesity but critics say the alarming labeling will unfairly and inaccurately equate every me every day meals that is and drinks with more harmful products like tobacco and alcohol he's told botan explains. imagine you're about to bite into your pizza when you see this disease liver or perhaps you're taking a swig of your drink when this diseased foot catches your eye put off your food well that's just the effect some doctors in canada want frustrated with a growing epidemic of obesity the entire medical association have tak

jamie dimon dude i'll write here it's got all you need to flick massive pain. possessed devil of finance on wall street and you can attack the mood and various locations serious cause serious gentle soul discomfort so it's right there oh that's gotta hurt buddy or else go ahead i'm right here in the head right here near your blade master's inspired brain cells are you going to be any. gory talking to which medics in canada have come up with a very explicit way of warning against the health risks of obesity now but critics say the alarming labeling was unfairly and will accurately equate everyday meals and drinks with more harmful to back you and alcohol told body explodes. imagine you're about to bite into your pizza when you see this disease liver or perhaps you're taking a swig of your drink when this diseased foot catches your eye put off your food well that's just the effect some doctors in canada want frustrated with the growing epidemic of obesity the on tyrion medical association have taken a leaf from their anti smoking contemporary's book and called fo

some like jamie dimon have called this a gift from the gods others considered a commercial failure and are concerned about the environmental impact so my question is what is your view on it particularly do you see the u.s. becoming energy self-sufficient as a result of it and if so in what timeframe. first of all no they will not be energy self-sufficient and the time frame of the given if you go back through history the reports there is many many errors just like america was going to be a major net importer of l n g energy just ten years ago so the game changed that said there is a lot of potential for the shale gas but you see that it all comes down to costs at what price those that block in what they call now so saudi dakoda will prices the box and will become you know cost effective but what price is the eagle ford you know will work for the americans and the reality is it does not work at fifty dollar well if they want to use the unconventional oil you're going to need plus eighty dollars prices moving forward that said let's not forget that a lot of these unconventional she'll be

him in fighting the fed when he was the treasury when he was sig tarp but look what happens when jamie dimon goes to the hill and sits before members of congress. you're obviously renowned rightfully so i think is me one of the most you know one of the best c.e.o.'s in the country for financial institution jim is this it's a blip on the radar screen and i really appreciate you voluntarily coming in to talk with us but i would like to come away from the hearing today with some ideas on. what you think we need to do. what we maybe need to take apart that we've already done to allow the industry to operate better where you gamble and i would you lose the house ones. in my experience would invest. and this isn't jamie diamond was in trouble and they treated him that way all these guys look i mean think about what these guys are these are politicians they spend their whole career asking for money so they can spend the rest of it running for office yeah all right so let's go to this are money bags come to congress yeah i'm just. by the way come on to them it was a mr tea party are mr tea party wha