jp morgan stock...as we await what's next for the bank's leader jamie dimon. chart talk is next. traders and money managers are closely watching today's jp morgan chase shareholder meeting. among them matt shapiro of mws capital---good to have you on the show this morning. > >thanks angie. > >matt, why is it that wall street is so in love with jamie dimon? > > jp morgan, despite the six billion dollar london loss is a money machine and jamie dimon and his great management of the company is really responsible. but of course some of the looseness that created all the profits also created the loss and with some of the insitutional shareholder services wanting to split his role, he doesn't want any of it but i think we're gonna broler something where he gracefully exits over the next year and it's going to be even better for the stock. > > what is the stock telling us right now and especially about this upcoming meeting? > >i think the stock could hit 60. and you heard it here first. its pe is really low and last week we talked about the financials being an attractive sector that hasn't really run up yet and boom---what happens the next day? they're up a

federal regulators are chasing potential power-trading trouble at jp morgan chase. the new york times reports investigators are looking at what they call "manipulative schemes" used by the big bank to turn money- losing power plants into powerful profit centers. the scandal allegedly involves bad energy trades in california and michigan. also, a federal energy regulatory investigator reportedly found a top jp morgan exec falsely denied knowing about a similar scandal among energy traders in houston. the bank denies that the executive lied. the new leader of the sec is calling for safeguards against hack attacks. in her first formal speech as chairman, mary jo white was asked about the recent mini market crash april 23rd triggered by a fake tweet. white says it raises questions about high-speed trading and the sec is monitoring the market. she adds the agency is working on a larger role in the global financial system but is not strongly focused on reforming money funds. congressman eric cantor wants legislation that places new restrictions on the sec. consumers call

then there's jamie dimon, ceo of jp morgan chase, who will fight to keep his postion as chairman at an upcoming shareholder meeting. investors and regulators are criticizing his handling of a $6-billion loss. now the state of california has just filed a lawsuit against jp morgan alleging unlawful debt collection involing robo- signing. the sec is banning a former star on wall street from working with clients. philip falcone, who ran harbinger capital, is agreeing to a 2-year ban from doing business as an investment adviser. he will also pay an $18-million fine. however, he will not admit nor deny accusations that he misused client money. among them, he allegdly manipulated the price of high-yield bonds. it was the headline that shocked wall street this week. attorneys for former enron president jeffrey skilling have struck up a deal with the justice department. upon approval, skilling's prison sentence could be shortened by 10 years. enron's collapse led to financial turmoil for former employees & investors. the justice department says skilling's deal allows victims to collect more tha

brown and david vitter requiring banks with more than a half-trillion dollars in assets, such as jp morgan chase, citigroup, b of a and others, to hold capital reserves of 15% - a much higher standard than exists today. a hedge fund founder is using tough talk to keep employees in line. cnbc reports sac capital founder steve cohen told investors the hedge fund would impose compensation clawbacks on employees who break rules with stock trades. cohen says it's to "deter conduct that threatens the integrity of the firm." sac has been the subject of insider trading investigations. intel's new leader may switch things up a bit. company veteran brian krzanich takes on the ceo role in two weeks, after paul otellini retires. krzanich is expected to steer the company in a new direction. analysts say he may turn over some production facilities to other chip-makers, as the industry switches from pcs to tablets and mobile phones. intel is first in the pc market, but has been slower to enter the mobile world. warren buffett has some encouraging words for working women. in an essay out this week, mr. buffett

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

illegal practices she says jp morgan chase is committing. >> no dars cars, no back ups. why is caltrans spending hundreds of millions here when it can be helping us like this? it's an abc 7 news investigation. >> we need that here in the bay area. >> that is this edition of abc 7 news at 6:00. >> from all of us here have a terrific evening. this is the "jeopardy!" college championship. here are today's contestants -- a sophomore from azusa pacific university, from lakeside, california... ...a senior at stanford university, from carolina beach, north carolina... ...and a junior from bowdoin college, from charlotte, north carolina... and now here is the host of "jeopardy!" -- alex trebek! thank you, johnny. and welcome, ladies and gentlemen. well, nice to see a california connection or a possible rivalry today with bill and jack here. and cindy may benefit from that rivalry. let's find out now in this half-hour. here comes the jeopardy! round for the three of you. and here come the categories. first off... of course it's may. we know that. each correct response ends in the

that's just shy of jp morgan chase, bank of america, citigroup and wells fargo's profits combined. senate banking committee democrats like elizabeth warren criticized the margin saying in part the fact that the government is now expected to profit $51 billion off student loans this year, more than the annual profit of any fortune 500 company and five time the profit of google is just plain wrong. i paid 8.25% of my loans and then put them on 0% credit cards and kept rotating until i tad it off. yeah, i did go to school, barnicle. thanks very much. >>> let's go to business. the banks will score a major victory with trillions of dollars on the line. later this morning, federal regulators walk back the proposal to weaken the dominance of several banks in the derivative market. big banks control is seen as the largest contributing factors of the financial crisis and yet just five banks still krl more than 90% of the entire market. for more on this and the rest of the day' headlines, let's go to charn cho. this is like a $700 trillion deal here. give us some details. >> brian, good morn

illegal practices she says jp morgan chase is committing. >> no dars cars, no back ups.rans spending hundreds of millions here when it can be helping us like this? it's an abc 7 news investigation. >> we need that here in the bay area. >> that is this edition of abc 7 news at 6:00. >> from all of us here have a terrific evening. in new york city's war on crime, the worst criminal offenders are pursued by the detectives of the major case squad. these are their stories. 185, 190, 195...

jp morgan chase and ceo jamie diamond gets to find out if he if he gets to keep both jobs.voted to split both positions. the vote could be viewed as a vote of no confidence. >>> there are plans of a union city teacher who molested students and what they are saying about a list and how it reportedly was used. >>> when he was heating up, how long is he expected to be out of rotation . . >>> welcome back, disturbing new details about a union city teacher accused of molesting his students. the contra costa times reports one victim told police he had acutest girl list and investigators say how he used arts and crafted projects to keep girls on the list inside during recess and how he is inappropriately touching them. he is due back in court, january 5th -- june 5th. >>> the boy was with his mother riding his bike in across walk on roan -- roaner cross expressway. he did not realize edit the boy. he returned to the scene after being flagged down and the boy was not seriously hurt. it has burned done down. -- burned down. police are calling mcphee a person of interest. he was deta

. >>> the california attorney general filed a lawsuit against jp morgan chase.t card holdards in california. between 2008 and 2011 they filed thousands of debt collection lawsuits every month using practices that violate california law. it included robo signing documents. >>> welcome to san francisco's big day. a look at the massive project and the unique name given to one of the machines. >> and a human head discovered at a recycling center and one thing that will help in the investigation. ./ú =/v8s q [ male announcer ] at montrose pet hospital, anarchy meets order. working with at&t, doctors set up a broadband solution to handle data and a mobility app to stay connected with their business. so they can run the office... even when they're not in the office. where do you want to take your business? call us. we can show you how at&t solutions can help you do what you do... even better. ♪ >>> today be get a look at a monster machine that is key to san francisco's big digs. mail mail and leaders -- mayor ed lee and leaders trooped out. it will link san francisco w

we saw just a year ago right now jp morgan chase and the london whale those banks are taking on big,isks as we saw with the scandal, big financial institutions out there rigging the market on interest rates so it is not as if the big financial institutions said, hey, we admit it. we get it. we understand and are backing up. we dial down the risks. instead we're caught in this back and forth. too big to fail and taking on risks and sucking up profits. leaving the american taxpayer on the hook if something goes wrong. i think that is fundamentally wrong. we've got to fight back against it. >> senator, i want to definitely have you back to talk more about wall street. before you go i want your thoughts on being a massachusetts senator, having represented boston. the house held its first hearing on boston today and we know the boston police were not informed of the russian, the russian government flagging tamerlan tsarnaev. does that concern you? >> of course it does. you know, this is what we have to do whenever there is a tragedy. we have to go back and look and see if there was someth

jp morgan chase offers more than 100 mutual funds that charge anywhere from less than 0.5% to more than.5% annually. i want to get your reaction to an example that jack bogle gave us, and that is that if you invest over a 50-year investing lifetime in a mutual fund making 7% a year on average, but you're paying 2% in fee for that, that that 2% will erode something like... two-thirds of your gains. >> so the lower fees relative to any given investment will always result in a higher accumulation. >> smith: but is his example correct? i mean, it's shocking that you would be giving up two-thirds of your... >> so i don't know the math behind the example that you're citing. >> smith: but does it sound correct to you? >> it sounds... it sounds high. >> smith: it had sounded high to me as well. so i took bogle's advice, found a compounding calculator online, and used a simple example in order to isolate the effect of fees. take an account with a $100,000 balance and reduce it by 2% a year. at the end of 50 years, that 2% annual charge would subtract $63,000 from your account, a loss of 63%, lea

california going after jp morgan chase.amazon may be coming out with a smart phone and it may be a 3-d smart phone does not require you wear those funky glasses and faa reportedly set to offer faster wi-fi on airplanes, opening up new broadband airwaves. that means corporate america can now work you everywhere you are. you are never free from the boss, e-mail. no excuses. john scarborough. >> shaktmctman's not even here . he could have been over there, he could have worn these and -- >> thank you, brian. i'm so glad you called. thank you. we're not in london, are we? no. why? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your accounts for unusual activity, you could also set up free account alerts. okay. [ female announcer ] at wells fargo we're working around the clock to help protect your money and financial information. here's your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happ

but with all of these scandals, both the government in washington, bloomberg, jp morgan chase itself, i'm reminded of a quote where lady violet said the truth is neither here nor there. it's the look of the things that matters. >> that's a terrific nbc product, too. >> sorry about that. >>. >> still around. more to come from you. do you have more quotes for us? think of some. >> i probably do. >>> a google executive is sitting before parliament today to answer questions about tax affairs. google's northern and central european boss will testify again following a grilling from a public accounts committee back in november about the company's apparently low tax bill. it paid just $16 million in tax between 2006 and '11. amazon attracted negative attention yesterday when it was revealed that it paid only 3.7 million in, tease last year compared to an income of $6..5 billion. getting back to your quote, mary, it don't look good. >> it really doesn't look good. but on the other hand, you cannot blame a company or an individual for that matter to take full slang of the breaks that they're a

according to the huffington post that is just shy of jp morgan chase, bank of america, citigroup ando's profits combined. senate banking committee democrats like elizabeth warren have criticized the margin saying in part the fact that the government is now expected to profit $51 billion on student loans this year, more than the annual profit of any fortune 500 company and about five times the profit of google is just plain wrong. i'd like to hear -- okay. go ahead. chances are it is. >> well, yeah. let me just say we don't -- i'd like to know more about that because we had until the loans got put back in the federal government an organization in vermont that made a lot of money off student loans and got turned around right back in so that more students could get loans. so we need to know what this money is being spent for. if that is what it is being spent for it's not so bad but i hardly think arne duncan is flying around in a jet like the president of exxon mobil. >> no. >> there is a bill that would create a different system whereby if students paid off the loans over the first te