jpmorgan the man did that himself. we've come a long way from jpmorgan the man and his firm that was named after him to what we have today. it's a very different institution. yes, they are very powerful. but they do business in a different way. goldman is basically stayed, you know, pure. they've made a few small mergers overt -- over the years, and one large one that didn't work out. they avoided even during the crisis, the fed was trying to get goldman to merge with wachovia, or citigroup or whatever it was. they resisted that and stuck to the knitting. and i think that as a result of that, you know, they are still very strong as is jpmorgan. they are both very strong. but i still think goldman is more envied, feared, admired, whatever one of those words that you want to use in ways that jpmorgan chase is not. i know i worked at jpmorgan chase. i'm familiar with the firm. you know, goldman still has a certain cache that they don't. >> host: well, your book certainly explains very well the very disciplined model that

so, you know, i think that you also have to look at the fact that, you know, jpmorgan jpmorgan chases a mongrel firm. it's been, you know -- [laughter] i've lost count of the number of mergers, 10 or 15 or 20 mergers over the years. i mean, the old jpmorgan and company looked a lot like goldman sachs did, you know, in its day. he was incredibly powerful as a banker. after the panic of 1907, he alone brought the other -- he provided the role of like the fed did in long-term capital management or even during this crisis when they brought the wall street elders together and decided to put together a rescue package. jpmorgan, the man, did that himself. we've come a long way from j.p. morgan, the man, and his firm that was named after him to what we have today. it's a very different institution. yes, they're very powerful, but they do business in a different way. goldman has, basically, stayed, you know, pure. they've made a few small mergers over the years and one large one that didn't work out, but they basically have avoided -- even though during the crisis the fed was trying to get go

jpmorgan to death himself but we have come a long way from jpmorgan to man and his eponymous firm that was named after him to what we have today . it's a very different institution. yes, they are very powerful but they do business in a different way. goldman basically stayed pure. they made a few small mergers over the years and one large one that didn't work out but they basically have avoided even though during the crisis the fed was trying to get goldman to merge with wachovia or citigroup or whoever it was they resisted that and they stuck to their knitting and as a result of that, they are still very strong as is jpmorgan, and goldman is more in the, feared, admired, whichever one of those words you want to use in ways that jpmorgan chase has done and i know i worked at jpmorgan chase so i'm familiar with that firm. and goldman still has a certain cachet. >> host: your book certainly explains very well the very disciplined model that goldman follows in recruiting and hiring the best of the class and the harvard business school and other top schools, and i guess one of your points

jpmorgan chase is charging customers. it was enough to make people walk a few extra blocks to go toker that own bank. chase is dropping fees back to the $3 that it had been charging. >>> with high gas prices putting a pinch on consumer's wallets, this is a good time to put shopping in the palm of your hand. karen caifa has more. >> reporter: retailers are moving beyond the desktop and making it so consumers can shop for what they want, when they want even when the nearest brick and mortar store is miles away. they fond stores are em-- found stores are embracing mobile more than a year ago. when it comes to social media most say the biggest return on their investment is hearing from customers and understanding what you're look for. 91% of retailers say they have a mobile strategy in place, up to 74%. almost half say they have made their website more mobile friendly, giving the opportunity to shop on the go. the top capabilities include storing a shopping list, coupons, alert for instore events and the ability to review ite

you know, i think of glaxosmithkline and jpmorgan chase and those that have stringent security issues. again, microsoft has programs in terms of the government security program where we proactively share security information with our governments around the united states here. so it is paramount to us. it's a piller of our organization in terms of a poor competency, of all of design of our products. and we have decades of experience of helping customers around the globe with the highest needs of security and privacy. >> ok. back to the phones, then. more questions. >> hi. is this going to allow to you reduce head count with i.t.? >> it will allow us to have better service given the fact that our head count is recusing in the city. san francisco, i'm sure like seattle and other cities, experiences a head count reduction every fiscal year that i've been here for the three years i've been here. i haven't associated any head count to this project. really what we're trying to do is continuing to provide good, if not better services than we provided before. given the fact we had fewer staff

jpmorgan chase and goldman sachs have placed their energy bets for the summer, they are predicting pricesunce back up and then reach $5 a gallon. now, some analysts disagree with the forecast and say prices will stay even or drop further. experts say every 50-cent jump in the cost of gas takes $70 billion out of the u.s. economy over the course of a year. >>> while the price at the pump is also hurting us, getting the meat and potatoes to the store from the farm. home cooks got less burger for their buck with the price of ground beef up 12%. even the lettuce that goes on that patty up 28%. and don't even bother slicing up a tomato. they cost 86% than they did last year. the total cost of a picnic for 12 this year? $199. 45 bucks more than last year. and that's not counting the beverages. >>> coming up, the economy has forced many people to become do it yourselfers. sadly, one of the many things they end up doing is injuring themselves. see how to avoid the e.r. when you diy. >>> plus four people killed in two cities. new information about the deadly violence that hit the east bay and the

bank of america, jpmorgan chase, wells fargo all rolling it out nationally. >>> well, he took immediate action after being busted for drinking and driving. the decision san carlos' vice mayor now wishes he could take back. >> and the big trouble for former presidential candidate john edwards could be in for covering up his affair. what could happen any day now. the count on chevy event is here. your ticket to a cruze eco. 42 mpg and over 500 highway miles a tank. one of our 9 models over 30 mpg highway. fuel up, rock on. very well qualified lessees can get a low mileage lease on a chevy cruze eco for around $159 a month. or qualified buyers can get no monthly payments for 3 months. fuel economy based on epa estimates. police on the scene of a deadly shooting. victim is a castl >>> a developing story we are following out of oakland this evening. police are on the scene here, this is a deadly shooting. we are getting word the victim is a castlemont high school student. now, according to the "oakland tribune," there was a shootout at 80th and bancroft about 2:30 this afternoon. now, the vi

bank of america, jpmorgan chase, and wells fargo are teaming up to launch a service called clear exchange. it will allow users to send payments using only a cell number or e-mail address. removing the hassle of tracking down a routing or account number. the service, which should be available in the coming months, is widely seen as a major challenge to paypal. >>> ahead of that, google will unveil its own mobile payment service today. it will be available on phones from sprint/nextel. the service will let consumers with specifically equipped phones that have google's android operating system pay for items and redeem coupons at cooperating stores. and pretty soon everything is going to be right there in your cell. better not lose it. >> right. it's like a dream come true for slopers. ashley of know of one in the studio with me this morning. her name's ashley. >> moi? >> ashley morrison >>> "moneywatch" sponsored by vagisil. bring yourself back 7 with the red, white, and blue. ocean spray cranberry, white cranberry, and blueberry juice cocktails. [ coughs ] okay, i believe this one is yours?

in the meantime, john lipsky, a former vice chairman at jpmorgan, will remain as acting director. >>> now to what appears to be osama bin laden's last recorded message to his followers. in the audio recording, a voice, thought to be the al qaeda leader, praises the protest movements in the middle east and north africa, and predicts they will spread to the whole muslim world. the 12-minute message apparently was recorded shortly before bin laden was killed by u.s. commandos in pakistan. it was released on islamic militant websites. >>> the u.s. raid on bin laden's compound has complicated america's relationship with pakistan. some say pakistan's leaders must have known where bin laden was all along. but secretary of defense robert gates says, that may not be the case. >> i've seen no evidence at all that the senior leadership knew. in fact, i've seen some evidence to the contrary. but -- and we have no evidence, yet, with respect to anybody else. my supposition is somebody knew. >> gates also said he believes pakistan was humiliated by the raid. >>> this morning, president obama will d

the number two guy there is a guy who is a former jpmorgan economist. he's there now and he's a care taker. we saw him speak this week. he's got a reputation as more of a tech contract than a leader of men type. so an american is definitely off the table because of the long time deal which says that the world bank belongs to the americans and the i.m.f. belongs to the europeans. >> who fixes europe now? >> well, that's a really good question. that's why there's so much angst over what has happened here. presumably the europeans have to do it themselves. america until germany is going to be one of the -- marcle in germany is going to be one of the key figures and sarkozy of france is much more a deal maker. this gives sarkozy a little wiggle room now that his big political rival is off the stage. sarkozy can step in and be a deal maker in a way that he couldn't be before because it would give a win to his opposition. gwen: we don't talk about crime stories here much but this was a story which wasn't just about infidelity, it was far more shocking than th

and jpmorgan. the most wealthy banker was powerful in the country and gives a loan of $480 million in the cold. in other words, , back in the day the private sector bailed out the government and the bank bailed out the government. not vice versa. none of them wanted it to the extent we have today and i think he would be appalled where we are today. a couple of other topics. what about the environment? this is our the founders did not have a lot of environmental problems as we would define them. you have to read between the lines with other issues. you can learn what they would say to the environment of their treatment of land. what was their policy? but they thought every person should only and. although it was felt from 1785 was of the view that you needed to get land out of the hands of government which was the major landholder back then into private individuals. 1785 congress based on jefferson's writings, set up a system they mark the northwest territory they were survey then sold off that dirt

this year jpmorgan chase increased its lending commitment to small businesses to twelve billion dollarsraising billions more for local services to help hospitals expand and schools grow. investing in the places we all call home. this is the way forward. sleep is here, on the wings of lunesta. and if you wakup often in the middle of the night... rest is here, on the wings of lunesta. lunesta helps you fall asleep and stay asleep, so you can wake up feeling rested. when taking lunesta, don't drive or operate machine until you feel fully awake. walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. abnormal behaviors may include aggressiveness, agitation, hallucinations or confusion. in depressed patients, worsening of depression, including risk of suicide, may occu alcohol may increase these risks. allergic reactions, such as tongue or throat swelling, occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness and morning drowsiness. ask your doctor if lunesta is right for you. get

jpmorgan chase has finished testing $4 and $5atm fees for noncustomers in two states.ng back to the $3 fees it previously charged. $5 is on top of the $3 that your bank will charge you. for some folks, we're talking $8 to take out your own money. there you go. >> it is hard not to get angry at that stuff. >> grr! >> it is better to say nothing. >> thank you, jessica. >> you're welcome. >> she has a lot say. the national teach he were of the year will be honor at the white house from frederick county, maryland. michelle teaches a. p. chemistry. she's been there 14 years. shearer was named maryland's teacher of the year last october. >> congratulations, miss shearer. >> 63 degrees here in northwest washington. >> a check on the news before you go is up next. [ male announcer ] edmunds.com says that lexus holds its value better than any other luxury brand. ♪ intellichoice proclaims that lexus has the best overall value of any brand. ♪ and j.d. power and associates ranks lexus the highest in customer satisfaction. no wonder more people have chosen lexus over any other luxu

this year jpmorgan chase increased its lending commitment to small businesses to twelve billion dollarswe're raising billions more for local services to help hospitals expand and schools grow. investing in the places we all call home. this is the way forward. [ male announcer ] in 2011, at is at work, building up our wireless network all across america. we're adding new cell sites... increasing network capacity, and investing billions of dollars to improve your weless network experience. from a single phone call to the most advanced data download, we're covering more people in more places than ever before in an effort to give you the best network possible. at&t. rethink possible. >>> live from america's news headquarters, i'm gregg jarrett. cleanup efforts are in full swing across the south following the deadly tornadoes earlier this week. volunteers providing supplies to thousands left homeless. the storms killed 342 people. >> nasa delaying the launch of the space shuttle endeavour again. it will not go tomorrow on the final voyage and it could be delayed at least until the end of the

this year jpmorgan chase increased its lending commitment to small businesses to twelve billion dollarsr local services to help hospitals expand and schools grow. investing in the places we all call home. this is the way forward. >>> as the news broke late last night that osama bin laden had been killed, celebrations began breaking out all across the country. chants of "usa" people singing the star-spangled banner could be heard well into the early hours of the morning. >> the president has just announced that we have caught and compromised to an end osama bin laden. [ chanting ] >> it was a good feeling. a lot of people lost their lives because of this guy. i'm happy they got him. [ singing ] >>> and there were dozens of reports of other celebrations across the country as well. on huge news days like this, people always remember where they were when they heard the news. for me it was an anticlimactic. i heard about it four hours after everyone else. why? i was on a plane. i woke up, got online and couldn't believe no one woke me up, so i woke up the guy next to me and said, hey, i want

this year jpmorgan chase increased its lending commitment to small businesses to twelve billion dollarsces to help hospitals expand and schools grow. investing in the places we all call home. this is the way forward. ♪ ♪ gonna use my, my, my, imagination. ♪ investing in the places we all call home. the new blackberry playbook. ♪ cos i'm gonna make you see ♪ there's nobody else here, no one like me. ♪ small enough to take anywhere. powerful enough to take you everywhere. ♪ i'm special ♪ so special >>> after the president's speech about the killing of osama bin laden last night i was in d.c. so i grabbed my flip cam and i went over to the white house to see the response in the streets. we do not have all that many spontaneous rush out into the streets hug strangers emotional catharsis events in our great when we do have them, they are big socially awkward country and most frequently when we have them they are about sports or sometimes politics but last night at the white house, at the naval academy in annapolis, west point, college campuses, times square, ground zero, we had one of those

and jpmorgan and the big multinational corporations have the efforts to bring women to business schools there seems something very suspect about that and also wisconsin. what do you think about what is happening in wisconsin and? >> [laughter] i am grateful you appreciate my effort to communicate with the general public. some of my colleagues get worried. [laughter] i do not want to suggest even for a second that what i am doing here there are some technical sayings that can do well that is not what i am trying to do but to tell you that, but you can make a judgment. it is strange because when it comes to drug safety, nuclear power, that middle east policy those with very strong opinions. it should not be like that. why does the economist get off the hook so easily? with the fda and everyone but you seeing larry summers is okay and greenspan was okay? i don't think so. what you have raised is a complex question but mainly because of my lack of expertise but contributing to women is number four washington has changed the world more than the internet. basically the argument is the house o

and, you know, jpmorgan and all these big, multi-national corporations have these, you know, efforts to bring women into business schools. i don't know, there seems something very suspect about it. [laughter] so if you could address those things. and also the last thing is wisconsin. what you think about what's happening in wisconsin. >> right. yeah. [laughter] well, yeah, i'm grateful that you appreciate my effort to communicate with the general public. yes, i mean, it actually is a bit worrying. some of my colleagues get worried when ordinary people understand them, yeah? is. [laughter] so, yes, i mean, i do not want to suggest even for a second that what i'm doing here, suggest that we don't need professional economists. there are some technical things that only trained professionals can do well. so that's not what i'm trying to do. but to tell you that, actually, you can at least understand what they are trying to do, yeah? and you can make robust judgments. anyway, so that way, you know, it's actually quite strange because it really comes to the kind of drug safety, nuclear powe

jpmorgan, 15,550. 12,000 in the u.s. best buy, almost 14,000 openings. for retail associates, managers, even folks for their geek squad. and general electric, over 8,000 openings there. everything from engineering to finance to hr. you've got big fortune 100 companies, thousands of openings, but you've also got foreign companies making major investments here in the u.s. we spent a day a few weeks ago at vw's billion dollar plant in chattanooga, tennessee. they are hiring 2,000 workers for the plant alone. 11,000 jobs in chattanooga are going to be created just because of this one plant. i want you to take a listen to some of the employees we had a chance to talk to. these are people that weren't auto workers who have a whole new career now because of this plant. take a listen. >> the economy, it had went down for so long, but this boosted it up so much. i was even thinking of relocating before i got this job. >> really? >> yes. it made me feel like i had something to be here for. >> what do you have to say to those folks who say the auto industry's dead?

bank of america and jpmorgan choice are reportedly under investigation. >>> meanwhile, rising gas prices are changing people's long-term buying habits, it would appear. sales of smaller cars rose 33% last month. the honda civic and chevy cruze were the top sellers. >>> if you're looking to rent a car, those gas prices will hit you hard. "usa today" found that rental agencies at major airports are charging up to 9 per gallon, if you forget to fill up the tank. >>> dramatic video this morning of a suspect shooting at police after a traffic stop in wisconsin. take a look. this is from the officer's dash cam. the police are firing back. the man is running back to his truck, still moving. eventually shot inside. he died before he could get away. an investigation found the officers were fully justified in returning fire. >> i'll say. >>> and finally, a major first in the major leagues. last night, we have our first no-hitter of the season. francisco liriano. taking down the white sox, 1-0. however unlikely, it took him 123 pitches. his first-ever complete game. this was a pitcher pitching to a

jpmorgan, the financial giant, 15,550 openings globally. 12,000 here in the u.s. almost 1400 at best buy. over 8,000 at ge. these are all stores. best buy says that they are hiring retail managers to geek squads to financial advisers. so really across the board. we spent a day down in chattanooga, tennessee. you may not know this, but vw has invested a million dollars to give all of these folks jobs and it has really turned around this economy. so take a listen to some of the employees that we have talked to. a man and woman who have never worked in the auto industry but now they have good paying solid jobs. >> the economy went down for so long but this boosted it up so much. i was even thinking of relocating before i got this job. >> really? >> yes. it made me feel like i had something to be here for. >> what do you say to those folks who say that the job industry is dead in the u.s.? >> it's awesome that we have this opportunity to say to people, we are manufacturing in america. >> so, brooke, to all of the naysayers who say we don't build anything in america, i

jpmorgan chase saying 130. but there's an important note to tell you about.european benchmark. that's sitting at $114 now a barrel. u.s. consumers will still see higher prices at the pump. gas prices, they're directly tied to the price of crude oil sitting at $100 a barrel. those prices lag two weeks before we see them hit the gas pumps. carol? >> i'm just curious about something. if somebody predicts gas will be 5 bucks a gallon by summer; this a self-fulfilling prophecy? does that push prices up artificially? >> it does. these bullish notes really help to bring in speculators that i know you love, carol. if wall street says prices are going to rise, it attracts investors who want to get in and make money. the big wall street firms stand to make a bundle, that is for sure. putting out forecasts by these is legal. it's done all the time. analysts say get used to it. we will probably see more and more of these forecasts. the economic situation we're in is changing so much. expect to get these once a month. not everybody agrees these are going to rise sphfplt s

. >>> bank of america, jpmorgan chase and wells fargo will allow customers to transfer money from their account using an e-mail address o are a cell phone number. right now paypal dominating the electronic cash transfer system. >>> a credit card comparison system is out with a list of the worst cards on the market. they include the visa black card. it has a $495 annual fee and includes the vague promise of luxury gifts. also the first premiere bank credit card requires a $95 security deposit just to get a $300 credit line. has a $75 first year annual fee and then that jumps to $120. >>> if you just got your college diploma, a national study finds 3 out of 4 companies plan to hire new grads this year. 23% plan to hire more graduates than they did last year. kiran? christine? >> that's a little good news. >> we talked about how difficult it is for coming out of college and trying to find a job. >> things are better for this class. kids still have to work hard to find a job. >> maybe take a free internship first. >>> outrage in new york this morning on the cover of all the papers here. the