the last time i saw him was at a stock -- shareholder meeting for jp morgan chase. he got a few things to say especially after the wall street journal headlines that says jp has to raise billions of dollars to comply with new regulations. and in your most recent note, you say jpmorgan support in trouble. why not? >> well, if you take a look at the balance sheet. they have four 150,000 dollars in net cash. that's a lot of money. so much money. more than double the common equity of the company. (?) if you take a look at the net worth of the economy,i, it's call it's all c. its loan losses in the third quarter were 60 basis points. that was the ratio. only one time in the last 14 years in which it's been that low. which means the quality of their loan portfolio is extremely good. in addition to which, the federal reserve itself is saying that they're in good shape because they passed the test -- the stress test. so the net effect is, you can look at this balance sheet any way you want. only one conclusion you can come to. its incredibly strong position. the earnings ha

ourselves there are a number of committed institutions and philosophy and the bank of america and jp morgan chase we're very excited to welcome kaiser to that group of folks to that level which is one of the highest levels to implement the decision we're proud to be in partnership is kaiser the second thing is that this also would not be possible without the passion of the residents as the mayor said this is something i worked on well before coming to san francisco foundation and well before working in the city of oakland and the early phases of this were meeting with residents who were hive skeptical of whether or not this would happen to their commitment to stay at the table and giving us a fresh plate and working with us and hold our feet to the fire is something else i want to express my appreciation i want to bring up supervisor london breed before i do when we were working on this early on in the newsom moifrgs i was the director the redevelopment and we were planning this out and trying to figure out how this will happen and the supervisor london breed was really one of the most committed

other institutions, jp morgan chase, home depot. even the u.s. posal service has all been victims of digital attacks in the past. cyber crime costs the internet in north korea is experiencing severe technical problems. one computer security expert in the u.s. describes the north korean system as totally down. when are governments, allies, and defenders of private business, when do governments seek protection of private entities as part of their own interests and why. we'll look at the action and reaction of those who pick the locks on sony's electronic front doors. joining us, ceo of global cyber risk, a cyber risk management firm. and chris hill, and alan friedman, a research scientist at george washington university. jodie, with such high profile breaches just in the past several months is there an explicit or implicit responsibility of government to help shore up corporate defenses? >> well, the government should not be shoring up in the sense that we don't need the government inside the companies building their security programs. but we do ne

in fact, anthony chen, managing director and chief economist at jp morgan chase joins us. i have to ask you about that question. markets continue to hit record highs. can they continue to move higher, despite the under drls performance in energy stocks? >> obviously, there's going to be a little bit of a temper tantrum. obviously this is disconcerting. when you put all of this in perspective, lower energy prices do, in fact, stimulate consumer activities. i think once we get over this and once energy prices start to stabilize, markets will be just fine. >> and, anthony, when we look at whether this will help the u.s. consumer or not, i suppose the bigger factor to be looking at is employment numbers. and how are you taking those recent prints on that topic? >> the recent on unemployment has been encouraging. in the latest survey week coming in just a little bit higher. if you look at things like continuing claims, you look at the insured unemployment rate, all those things are telling you that the employment numbers will perhaps get even better. when we get the employment

able to ask josh earnest today what gives with president obama teaming up with jamie dimon with jp morgan chase. he said that they were fighting for different reasons. president obama wanted support in spite of that financial provision, and di jamie jamie dimon was lobbying for it. >> thank you. >>> flight delays could linger in to tomorrow after london was forced to shut down it's air space because of a computer glitch. now it's reopened but not before flights were canceled this afternoon. we have the story now from heathrow airport. >> reporter: more than 200 square miles of air space had to revert from computer control to manual control. aircraft were unable to take off from the british capitol, and the aircraft coming in had to be spaced out for safety reasons. just 50 aircraft so far have been canceled from here at heathrow. other airports were waiting to see whether they could clear the backlog without canceling the flights. but the impact will continue far into the coming weekend as aircraft which was due to arrive here and due to take off bound for other destinations are actually now in

jp morgan chase city group and bank of america settled similar cases this year. >> time for a check ofur "action news" traffic report on this day after christmas. see if there's any traffic out there. probably around the malls i suspect. >> we are wishing people many happy returns today, returns at the malls rick and shirleen. this is 202 by the king of prussia mall and you can see traffic is heavy in both directions especially sitting through the traffic lights here along 202. also watching a considerable amount of sun glare out there this afternoon. it's nice and bright and sunny. but on most of our highways traffic doesn't look too bad at the beaumont. we are watching a crash in concorde township delco along cheney road at glen view road f you're headed towards the concorde mall speeds are in the 30's as you sit through those traffic lights. we have a crash in cheltenham along washington lane at shoppers lane appropriate today there by the home depot and the target. no huge delays at this point. some heavy traffic in spots but no huge delays on the schuylkill. 95 getting a few north

washington post that one of the people telling them to vote for it was jamie diamond, the head of jp morgan chases test moment. is that a signal that you should vote on it? or that you should definitely vote against it. well, in the end, it did pass last night. we avoided a government shut doin when the house passed that bill less than three hours before mid night. but it does still have to pass the senate. there's been some short term extenders to try to give the senate a little more time to get their act together and keep the lights on. but we've bb been watching them all night tonight not knowing if it was going to have the votes and if it did pass and not knowing if they were going to give thems some short term mess e mish to give themselves more time, to stay in session to do this funding bill and even more to piece its together as best thaz could. they've at least e at least made a decision for tonight. what we're told is that mitch mcconnell just jumped into a elevator and said see ya monday, which implies they're not leaving nor good, but they may be leaving us for the night. joining us y

jp morgan chase, they're not a retailer. $250 million in data security.they got hacked. >> so when will industry focus? you cannot build a castle strong enough. when are you going to focus on how that data is used to transact in business. just to give you an example. locked up sometime after 2020, solution, he's off the streets. but there was not a lack of people going back into this. at the time, it was open wifi. payment data was encrypted, but in-transit data wasn't. so what do we have now? ram malware. even after tar get, home depot knew about this. it was in the papers. they got hacked. they didn't know from april to august. >> you don't need to factor authentication. we seem to move from one cell to another. >> what did the industry do? why if my phone is uniquely protected better than me, why can't industry protect? >> so you'll start to see it first in small pieces and then a larger movement. so what to look for, technology companies who are opting not to collect data. the example that comes to my mind first is apple pay. like google wallet, the t