other groups are targeting jp morgan chase there is a website out of baltimore that is encouraging people your mortgages. it's happening. it's starting to happen. let me go to rich. hi, rich. >> hey, glenn. why isn't steven lerner being investigated for economic terrorism? >> glenn: anybody have it? >> i can say because i believe that it's part of the pressure from above and below strategy, which we talked about many times on the show. you can't have a revolution come up from the street to people like steve lerner acting without authorization. they have to have the authorization from above. you can't have peasants with pitchforks run in the street and take over the government. you have to have the trade organizations in the government itself that support them and protect them and tre vent them from being investigated. i would add that this lerner fellow is not alone in practicing the economic terrorism. soros himself has been accused by the chinese military of being, quote/unquote, financial terrorism. a book was published in english in 2002 by two chinese colonels called "unrestricted wa

jp morgan dishing out millions on fraud charges agreeing to pay $228 million to settle charges that it rigged bidding competitions to win business accord together justice department. and jp morgan made 93 secret deal was condition kps and it was those deals that is allowed the bank to peek at competitor officer offers and jobs report boosting confidence in the economy z cot end of a 40 hour work week be near? adorgd center for american progress, more higher level workers being asked to put in 50 hours per week. 38% of the professional men work at least 50 hours per week, up 4%. for women, 14% asked to work more. on the flip side, lower income workers are working fewer hours but at job was a regular schedule. >> and jaycee dugard talking about her ordeal for the first time. >> still head her nearly two decades as a prisoner in a bay area backyard. >> and wendy f wants to know why she's being pressured to tell a survey things they she might not tell a friend. >> and then at 5:00 tipping the scales on weight charts, how much bigger american obesity problem has grown over the past two deca

retailing store is going to come out with earning results, and we're yet to hear from google and jp morgan chase, and both are due out later today in the u.s. key sectors there for the market to focus on. and let's not forget economic data, as well as the weekly jobless claims and that follows the jobs numbers that came out last friday. a lot of intense focus on that. domestically, of course, also some focus on the nuclear energy sector and the energy sector following prime minister kan's speech yesterday, stating the intention to phase out nuclear power in japan. we will have more on that later in the news program. back to you. >> thank you for that. that was our market reporter from the tokyo stock exchange. >>> toyota motor is finding it difficult to improve efficiency. it says it needs to streamline production lines without laying off workers. toyota president said on wednesday that as a japanese firm the auto maker will struggle in achieving domestic output of over 3 million units and keeping its payroll unchanged. toyota has seen a decline in its domestic earnings as it cannot raise

. >> tell me, what is it that jp morgan did that cost it $228 million?ng a bid-rigging case, and it did not get off easy. jp morgan will pay, as you said, $228 million to settle claims that its securities unit which has since been closed rigged the market for municipal bond derivatives. the charges covered at least 93 transactions in 23 u.s. states

bill daily made $9 million at jp morgan. david may the made one and a half million at puff strategies. work figure the president sometimes increases their profitability more. guess who gets the top salary? president obama. the president makes about $400,000 a year. in new york i'm alison. >>> fox reports. you decide if this is a cheap shot. hackers got into the network's twitter account and put out one of the worst stories of the year. >>> shop lifting is on the rise. why do many feel that this is good news. wait until you hear this reason. ♪ [ female announcer ] everybody loves that cushiony feeling. uh oh. i gotta go. [ female announcer ] and with charmin ultra soft, you can get that same cushiony feeling you love while still using less. charmin ultra soft has extra cushions that are soft and more absorbent. so you can use four times less versus the leading value brand. ah. [ female announcer ] using less never felt so good. we all go... why not enjoy the go with charmin ultra soft. >>> hackers posted fake news updates on

we had a large investment recently by jp morgan chase into our loan fund. we are looking for businesses that are looking to put in more energy-efficient equipment or retrofit or remove toxins from processed here we have been lending to drive cleaners that are giving you more environmentally friendly products, truck drivers putting in new exhaust systems. finally, just to give you kind of a scale of what we do, mark mentioned the sba right guaranteed 275 loans in a year. we expected to 50 or 60 in san francisco this year, and more like 250 or 300 throughout the bay area. if you are hearing something interesting and you want to talk, the dominant in the purple suit has been handing me question cards out. >> i am the ne community federal community union. we are like a bank except we are nonprofit. we are 501 c 14. we are insured up to 250,000. we build credit. what we do a lot is one-on-one counseling. we are also a part of the bank of san francisco, so we do pay their lending -- payday lending. we help people build up their credit before helping them to get a

we had a large investment recently by jp morgan chase into our loan fund. we are looking for businesses that are looking to put in more energy-efficient equipment or retrofit or remove toxins from processed here we have been lending to drive cleaners that are giving you more environmentally friendly products, truck drivers putting in new exhaust systems. finally, just to give you kind of a scale of what we do, mark mentioned the sba right guaranteed 275 loans in a year. we expected to 50 or 60 in san francisco this year, and more like

we had a large investment recently by jp morgan chase into our loan fund. we are looking for businesses that are looking to put in more energy-efficient equipment or retrofit or remove toxins from processed here we have been lending to drive cleaners that are giving you more enviro

as a matter of fact, i will read from that article, states that jp morgan chase is on track to spend$7 million this year on lobbyists. wells fargo, which spend $5 million last year, spent $1.9 million on lobbying in just the first quarter of this year. none of that includes the millions in campaign contributions the banks and trade associations are pouring into the conference of those members of congress who sit on the relevant committees responsible for financial reform, especially those willing to take on dodd-frank in the article. professor warren, these are the same two institutions that publicly admitted to wrong doing in state and federal mortgage servicer investigations. is that not correct? >> yes, sir. >> as i understand it, jp morgan admitted to overcharging thousands of active duty military personnel millions of dollars in fees and interest charges in violation of the service members civil relief act; is that correct? >> yes, sir. >> and wells fargo admitted to 55,000 foreclosure proceedings. i guess my question is do you think this kind of action and activity has anything

jp morgan said it felt the company was sound but the stock was overvalued. netflix stalks dropped $800 a share. they closed at $279 per share after the company created a firestorm by changing its price structure which will lead to higher rates for customers. >>> and worries over debt in the united states and europe had investors pulling back today on wall street. the dow fell 94.57 points to 12,385.16. the nasdaq fell 24.69 points to 2,765.11. >>> debate over the nation's finances is taking center stage thong campaign trail. rick santorum said the country is in need of a change. >> this president and all of those who have been in washington have broken the public trust. they have -- >> he said he would only support raising the debt ceiling if it included a constitutional amendment. >>> a republican gay rights organization is seeking to meet with michele bachmann. the executive of gop proud said his group wants to discuss issues important to gay conservatives. michele bachmann's husband has been criticized for his work as a therapytist to crete homosexuals. >

we have seen top ceos from jp morgan demanding a resolution. their concern is not with default, but as it drags out, the threat of the credit rating gets more urgent and realistic. you could get a situation where it happens before a default. are you concerned about that? >> well, we are certainly concerned about a potential downgrade. it's why we have been pushing to get it resolved. the house of representatives refuses to do anything other than 100% of what they want. until that happens, we can't get something through congress. you are right about the ceos. it's small businesses on main street. they are concerned about this. it's creating tremendous uncertainty. it has to be resolved. this is serious business. all the games happening are so damaging. >> that has president responded yet? >> people all across the white house have been in touch with ceos around the country. he's trying to push congress as quickly as they can. we are sitting here waiting hour after hour for the bill in the senate. it's holding this up. it's critical for the republ

. >> jing ulrich from jp morgan, the head of chinese equities and commodities. it's been a fascinating discussion. we appreciate it. >> absolutely. thank you for having me. >> absolutely. thank you. >>> we'll be right back here on "world business today" after this break. target and help repair damage in just 3 washes. for softer, stronger... ... hair with life. [ female announcer ] nourish plus. only from aveeno. when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how an aarp... medicare supplement insurance plan, insured by unitedhealthcare insurance company, helps cover some of the medical expenses... not paid by medicare part b. that can save you from paying up to thousands of dollars... out of your own pocket. these are the only medicare supplement insurance plans... exclusively endorsed by aarp. when

. >> it angered the supporters, they cheered when the former jp morgan chase senior executive bill daleyamed white house chief of staff. one year after signing wall street reform legislation and now needing money for the campaign, some suggest mr. obama has to walk a tight rope. >> when he calls wall street bankers fat cats, then his base cheers. so you will see him constantly trying to shift back and forth. and keep wall street happy at one point. and his base happy at another point. >> some consumer advocates say wall street is not where the president should be looking for campaign cash. >> the president needs to tell the true story. that our economy is troubled because the banks crashed it. >> the obama team closed the white house office of political affairs and moved the campaign to chicago to separate politics from governing, which is why experts say having current administration officials participating in fundraising events warrants close scrutiny. at the white house, mike emanuel, fox news. >> bret: n.f.l. teams are reportedly voting tonight on a tentative deal to end the league's

names that have already popped up include jp morgan chief jamie diamond. that's news out of cnbc.ack to you. >> very interesting speculation. thanks very much, nicole. have a great holiday weekend. >> you guys too. >>> speaking of our holiday weekend, we want to know what kind of weather we're going to have, tom. >> so beautiful you're going to want to put the top down on your minivan. >> just going to roll it right back. >> you can borrow my circular saw. >> i'd rather borrow your corvette. >>> right now we're in the 50s to near 60. the suburbs have rural areas, a gorgeous morning under way. right by the bay, beautiful day on the bay and at the beaches too. if you have that opportunity to head out over to the eastern shore early, you'll have gorgeous travel weather. it is cool out in the mountains this morning. there are many people heading to the mountains. not everybody's going to the beaches. out in western maryland and much of west virginia, if anybody's camping, they're waking up cold this morning. glad they brought their sleeping bags. only near 50 degrees many locations th

. >>> in stocks, casinos and resorts were among the few winners today after jp morgan raised its price for the sands, wynn and mgm grand. >>> investors are looking ahead to the start of earning season next week hoping for a second consecutive quarter of double digit earnings growth. alcoa kicks it off after the closing bell on monday. that's it from cnbc. we're first in business worldwide. now back to "hardball" and chris. >>> this is america. how many of you people want to pay for your neighbor's morning that has an extra bathroom and can't pay their bills? raise their hand. president obama, are you listening? we're thinking of having a chicago tea party in july. all you capitalists that want to show up to lake michigan, i'm going to start organizing. >> that's of course rick santelli of cnbc, creating the name, at least, for the tea party. that was, of course, the infamous battle cry back in 2009. since then, the tea party's effectively taken charge of a big chunk of the republican party. could the republicans' big engine blow up on them? josh has a piece in theatlantic.com. tough st

credit trust is a portfolio, etf that invests with a 5-year ma dhurty, 3% yield, great credits, jp morganchs. you want to go from u.s. frshry debt because if they default people are going to run to the certainty of strong corporate debt. >> in fairness, that hasn't given much of a return. you're just talking about safety. if you go into this barclays, that's safe. >> that's safe. if treasuries go down and interest rates go up, people are going to want to own corporate bonds instead of treasury bonds. but what you want is you want high quality corporates and you didn't want to go too long term because who knows what inflation is going to be in ten years? so this is a five year high quality -- >> you say high quality because that's what the government bonds are right now. you said gold. i mentioned this to somebody the other day. he said gold is just too expensive to buy. you're recommending the etf for gold, gld, which by the way is up 30% over the course of a year. but an etf is easy to buy and sell. >> and gold is still not adjusts for inflation. it's lower than it was in 1980. if you se

second quarter earnings season kicks off next week with alcoa, jp morgan, citi, chase and google reporting0% of the companies in s&p 500 posted earnings that beat estimates. the big question really is when are these companies going to use some of the cash to hire more workers. for the economic calendar, we'll get the minutes from the feds last meeting, policy viewers downgraded their view of the economy at that meeting and this will give us more insight as to why. reports on inflation, retail sales and jobs are do you oue o. we'll follow it all on cnn money. back to you. >>> thank you. good morning to you, saturday morning, i'm susan hendricks in for t.j. holmes.

google, jp morgan chase, yum brands, citigroup are releasing earnings. >>> federal reserve chairman benrnanke will face tough questions about the economy after the weak jobs report. he test fis on wednesday. >>> coming to a store near you, more electronic receipts. more retailers offering to send receipts by e-mail to save paper. nordstrom and gap started a few months ago, watch out you could get store offers clogging up your inbox if you give out your e-mail address. >>> pepco is the most hated company in america according to a new american customer satisfaction index. frequent power outages gave them the title. second place, delta, customers plaining about shelling out more for food and drink and baggage fees and time warner cable to the third spot, facebook making it to the top ten daas of privacy concerns. >>> want a free credit score get rejected for a loan. lenders have to tell you what prevented you from getting a loan or credit card. the new measure goes into effect on july 21st. >>> don't forget for the latest news about your money, check out the all new cnnmoney.com. "american

jp morgan chase, citigroup, google all report later this week.ecasting earnings for s&p 500 companies increased 7.5% from the same quarter last year. >>> news corp stock taking a big hit after stalls in its bid to buy satellite tv company british sky broadcasting. shares of news corp dropped sharply, more than 7.5%. support for the deal weakened after the news of the phone hacking scandal at some of news corps' publications began to wide joan 9% of adults in the u.s. do most of their web surfing on their smartphones according to a study by pew internet and american life project. many say users tend to be low-income people to access the internet at home in place of computers. >>> don't forget for the latest news about your money, check out the all new cnnmoney.com. "american morning" will be right back after a break. d. goodnight, stuffy. goodnight, outdated. goodnight old luxury and all of your wares. goodnight bygones everywhere. [ engine turns over ] good morning, illumination. good morning, innovation. good morning unequaled inspiration. [ mal

we did a deal with jp morgan chase, and obviously a large bank working with us.is going to grow. i think it is going to be one step at a time. >> just watching what is happening in washington with the whole debt crisis and potentially a financial crisis next week, could it impact the minority community, the black community disproportionally, could there be signs of even more economic suffering? >> without question. i mean, i think one of the trends that we are seeing played out in washington is the whole idea that america is so diverse now that there are so many opinions and so many splintered groups that we are really losing sight of just the individual american, and what this might mean to them, you know, whether it is higher mortgage rates for those that have adjustable rates, or more difficulty getting loans or the cost of loans. this is going to impact anybody, anybody that has credit cards or student loans. if you break it down to the individual person, the minority community is already hurting. to have this layered on top of that is really just detrimental

we got strong rallying from jp morgan. this is after comments from fed chief, ben bernanke.on the hill testifying. he says the fed is willing to step in with more stimulus if the economy slows down. so that is why they are selling again, suzanne? >> all right. alison kosik. thank you so much. >>> we want to turn around and bring you livehe is leaving the. this is a dramatic development. you see him there. this was after a judge declared a mistrial in the perjury case against the baseball great, roger clemens. so it's unclear as to whether or not the prosecution tries once more again to charge him with perjury, and this all stems from originally statements that he made under oath before congress, congress that was investigating whether or not he was using steroids, and that being part of a larger issue that the congress was looking at, in terms of u.s. drug policy, and there you see him leaving the courthouse, this after the perjury trial was declared a mistrial by the judge. so still uncertain, his fate, roger clemens' fate, legally, but for now there is -- there are those c

some positive economic news from jp morgan chase. the company reports the soaked quarter income rose 13%. their stock rising.2% refusing a call. it is unclear if they can be compelled to testify. the government on the issue at the now closed newspaper. those are some of the latest headlines on c-span radio. >> this weekend on american history tv on c-span 3, visiting at the library of congress. looking at the history of civil rights. this weekend, live from salt lake city, the nation's governs look at the lessons of 9/11. talking competitiveness and the economy. sunday at 1:30 eastern. the national govern's association on line and on c-span. >> i'm very interested in what i call disappearing america. america that may not be here 25 years from now. >> traveling 9 united states documenting the country through her camera lense. every photo donated and at the library of congress. apre lued of monday's debut. the library of congress. host: we are pleased to be joined by the representative raul grijalva. thank you for being on with us this

city results mirrors jp morgan. we have been talking about the notion of comfroms when it comes to discussions about the debt and should congress members of the congress republicans primarily as far as these discussions go, and the president, compromise on their ideals when it comes to debt talks? all available for you to join us. e-mail and twitter as well. new jersey. go ahead. caller: good morning. i would just like to say that i wish that the congress would do like the president said and try to put aside their issues just this once. so that the country can be saved economically. i'm so tired of the posturing that they continue to do in the house of representatives, the congress, and they fight so much with the president. i think that everybody needs to come together for the greater good of the american people. which is the issue. host: off of twitter this morning adds this. madison, wisconsin. good morning. independent line. caller: good morning. thank you for taking my call this morning. it's really a no-braine

and this is jp morgan's second fraud payment in a month. >> all right. and again, futures are pretty much flat this morning but all is going to depend on that jobs report that comes out in the usa at 8:30 eastern time. reporting from hong kong, thank you, kristie. >>> "american morning" starts right now. >>> the final countdown. i'm ali velshi live at kennedy space center for the very last launch of the space shuttle. the end of an era going back 30 years. the one wild card is the weather. we're following every step that the final crew makes this morning. >> i'm kiran chetry, tragedy at the ballpark. a fan falls to his death from the stands trying to catch a foul ball as his son looks on. it's the second accident just like it this year. >>> freedom delayed for casey anthony. i'm christine romans. corrections officials in florida doing some late night recalculating, adding a little more jail time to anthony's sentence on this "american morning." >>> welcome to "american morning." glad you're with us today. it is friday, july 8th. a big day for the shuttle