jpmorgan went first. it was an awful lot of money.ht washington mutual, two firms that we understood did a lot of bad stuff. countrywide and merrill lynch, two other firms that do a lot of bad stuff. >> but citi didn't! citi is in a different position. jpmorgan would be big, big of america would be big. >> citigroup is the one who got caught with its pants for this down around the ankles. >> that is way worse. >> i did not talk about what you see -- >> moving past the pants, but what we do have is we have a huge split between $4 billion and a $10 billion, and these numbers go out to the market, and we can kind of see what happens. what happens to the stock price? >> the stock is not moving. it is down $.35. >> and jpmorgan, that was a massive double settlement for 1. we see this with bnp, a double-digit with a b, as he said earlier so well, it's like dr. evil type money. >> is one of the reasons these stocks are not moving is those are invested in financial? at the end of the day, those who jpmorgan,ed in citi, and bank of america sti

jpmorgan. remember the incident with the so-called london whale back in 2012, the rogue trader who caused the bank to lose $6 billion by hiding ever and larger losses. as the market kept trying to get a handle on the magnitude, the stock kept going lower in sync with the estimate cuts and on monday the "new york times" reported the london whale losses might total as much as $9 billion, that's it, but 9 billion for jpmorgan and several firms following the stocks slashed their estimates to match that "new york times" figure. however, just like caterpillar march in 2009 jpmorgan's stock didn't get hit on that last round of estimate cuts. you heard me. it didn't get hit. instead, it flatlined. and then it inched up, ever so slightly when that news broke. again, just like with cat the stock was telling you the estimates had come down too far. sure enough, soon after as we learned that jpmorgan's losses were not 9 billion. they were contained at 6 billion, not that much larger figure, and that was th

anastasia so much, amoroso with jpmorgan. be portugal -- germany beat portugal 4-0 not 3-0. >> the dollar-yan gets my attention. >> coming up the next hour, chris grisanti joins us. ♪ >> this is "bloomberg surveillance." battledvernment forces jihadist 34 miles from baghdad and president obama sends in the marines. general motors announces another recall which makes over 20 million cars to the garage. it is the summer of tent as you crane -- in ukraine as russia turns off the gas. we are live from our world headquarters, tuesday, june 17. joining me is scarlet and adam johnson. our guest host is christopher grisanti, cofounder and owner of grisanti capital management. let's get to where morning brief. inflationht, u.k. falls to its lowest rate in 4.5 years for the month of may and it's due to falling transportation costs. european car sales rose 4.3% in may which is the ninth monthly consecutive game. watch u.s., you want to cpi at 8:30 a.m.. the fed will start its meeting today and we will get numbers about 10:00. got bobe b

jpmorgan setback at this. teddy roosevelt, you wait for my work. the treasury secretary was to wait for the word and a meeting that was called at midnight at the hotel manhattan in new york where morgan invited some of his friends, james stillman who is head of national city bank which is now citibank, tom lamont who still hanging around in 1929 but was then much younger, and a bunch of other people to go around and talk about how they would say the market. they put in summary, also got $25 million from treasury department. that was the first time with the trustbusters and i need your help, here's some money, do whatever you need to do. organize people together, they don't do with morgan of money. to do with standard oil money and shares that is in the sector get back into saving not the knickerbocker trust company, not the company that people from harlem to fifth avenue and then between were trying to get their deposits out of because would affect their lives of the american trust company because in that he had invested in running that were his fr

chief economist at jpmorgan joins me now to break down the latest reports. welcome back.ood to see you again. sales make up a small percentage of total home sales. dumay's numbers signal a housing recovery that is slow but steady? numbers?ay's >> i think so. existing sales numbers were also up nicely. look readyme numbers positive right now. i think we're finally shaking off the nine month malaise. trackk things are back on for pretty good increases in home sales and hopefully housing starts as well. increasing home prices hurting affordability for prospective buyers. to see the current environment as an ideal time to get into the market. are they being shut out? >> i think that had been a concern but we saw a moderation in home price gains. at least the data we have through april. it shows home prices have been increasing very risk way. initially it was good to have house prices pick up and support household alan sheets. arguably they have been getting frothy. >> bloomberg lp senior economist says that is the video among high income fires has been the spring housing mark

jpmorgan is overweight.the infeo more further down the line. jpmorgan is overweight.nformat. the inference that they would do more further down the line. jpmorgan is overweight.the infeo more further down the line. jpmorgan is overweight. cheap cash basically will benefit the periphery more. lloyds in the uk, 25% owned by the british government still or the uk taxpayer. negative territory. looks like the iipo will be belw book value. peripheral wobond markets contie to rise pushing the right can town further. a down further and the spanish governments can borrow the ten-year more cheaply than the u.s.. when you look at that, bear in mind in the real economy, the picture is different. here you have 2% inflation, your real interest rate is very low. in spain, there is virtually no inflation, so real interest rate is very high. and of course many firms were row above th borrow above that. and tonight in sweden, leaders are trying to decide on a new head for the european commission. a strong candidate reflecting a popular vote pushing for pro eu policies across the union

jpmorgan verse wells fargo. put me down for jpmorgan. exactly what you said.treet has been focused on the absence of revenue growth. slow trading quarter. wells fargo, yes, they've done a phenomenal job focusing on mortgages. geographically they're in a great spot, but i think the time has come where you're going to begin to see if jpmorgan reports a good quarter, all the capital flows that have gone away from jpmorgan into fells, you're going to see that reverse again. >> i think when you look at goldman saks and citi, you've got two different names. goldman sachs has been on every deal. including m&a, it's once again there. if you listened to lloyd blankfein last week, he did not talk about trading. i think goldman's crushing is this quarter. we'll see when the numbers come out. >> gary cohn was somewhat cautious. two weeks ago? >> maybe so but his boss wasn't. i'm going to go with the boss. the big man looked pretty confident about things. and he spoke directly about trading -- the trading environment not being as bad as everybody's talked about. >> don't f

. >>> jpmorgan may be close to cutting compensation and reducing jobs in its investment banks. speaking at an investment conference, the chief financial officer didn't give a time frame, but said it was a possibility if trading revenue doesn't bounce back. last month, jpmorgan warned its second quarter fixed income and equities trading would probably drop 20% from just a year ago. >>> speaking of banks, talks between bank of america and the justice department have hit a snag. as we have been reporting, the two have been negotiating a multibillion dollar settlement over the bank's mortgage investments. but now, according to the "new york times," the talks stalled after the banks offered to pay about $12 billion didn't satisfy prosecutors. they face numerous investigations into the securitization of mortgage bonds before the financial crisis. >>> enter national events are also grabbing investors' attention. nato ambassadors had a meeting to discuss the security situation in iraq, where militants took 80 turkish citizens hostage. meanwhile, in vienna, where the members of the orga

billion billion. >> jpmorgan has already settled?> they settled last year. for $13 billion. >> so we will have to wait and see what goes on between a good america and the settlement talks there. think of america is large because they have acquired , which gave the m and enormous amount of securities on their plate. could be $10 billion that they are paying as well. .> thank you, keri geiger coming up, we will talk about summer vacations. perhaps you may want to stay local and save. the best and worst places for a staycation. ♪ >> this is "taking stock" on bloomberg. i am pimm fox. and that almost here means vacation. according to one research report , petitioner's plan to spend about $1200 per person this year. perhaps you do not have to spend all that, a staycation might be for you. we have the executive of wallethub. worst places and for a staycation, he joins us from washington dc . our mission is to help consumers save money. as you mentioned, coming out of the great recession $1200 per person for a vacation is money for a lot of

the mass affluent market is not the same as jpmorgan serves. mass being like 00,000 to a $1 million account. most brokerage advisers are not taking on accounts under $1 million. they can have tniche to themselves. it's not huge. >> interesting to me. the concept of giving the free antenna back to the consumer at home. allowing in em to capture on any device the ability to view tv once again. interesting to me. challenging to, you know, some of the telecom companies going forward. >> yes. >> but to me that one stands out and i think if you look back at list from 2013, there are a lot of companies on there in 2013 that have gotten solid footing now as we head into '14. >> pete? >> within the youtube video network i think when you look at this company full screen, really intriguing to me. everybody's talking about content. we pound the table about disney, the content they own. netflix another one. the content they own what it's worth, what they've paid. this is one of those names. huge exposure on youtube when you look where they are. their librar

prosecutors say jpmorgan has engaged "in a continuous had a practice of mortgage discrimination i imposingdifferent terms or conditions on a discriminatory and legally limited basis." ofeclosures that came out jpmorgan's alleged practices helped trigger a wave of foreclosures in los angeles. the city is seeking compensation for losses in tax revenue and property costs. similar suits have previously been filed against the firms wells fargo, citigroup, and bank of america. white house press secretary jay carney has resigned after more than three years of president obama's chief spokesperson. he spent over two decades as reporter before joining the white house. you will be replaced by his deputy. the civil rights activist yuri kochiyama has died at the age of 93. rights,pioned civil protested racial inequality, and fought for causes of social justice. her activism began after the bombing of pearl harbor, which in her family were held in a japanese american internment camp. she medially saw the parallels between the oppression of black people and the treatment of japanese americans. in the 196

>> yes. >> an investment from jpmorgan as well. >> jpmorgan led our series d last month. >> great tos always. >> thanks for having me. >> still ahead, what does jeff bezos have up his sflooef the amazon rumor mill churning today. should you be a buyer ahead of a device unveil? ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim from td ameritrade. that'and with truecar.com,t lookithere's no buyer's remorse. a good deal or not. "okay, this the is the price," overand you're like. save time, save money, and never overpay. visit truecar.com (man speaking chinese) bulldog: yosometimes, all it takes is a warm heart and a cold nose. that's why mattress discounters good deed dogs is raising money to train service dogs for people with disabilities. i would never imagine a life without an assistance dog ever again. i relied on people a lot. he helps me live a more inde

jpmorgan chase may have to cut jobs and reduce competition.ing revenue fails to rebound as expected. the longer-term question, she says, will we had too much capacity. for the first time since the u.s. housing crash, condominium towers are being built in downtown boston, seattle and los angeles. back in favor after rental demands pushed the apartment vacancy rate to the lowest we have seen in a decade. thanks very much. the world's attention is being turned to latin america this week. the world cup begins in brazil tomorrow. brazil versus croatia. for those who like to put money hasuch things, eric chemi been digging through the numbers for us. tell us about the variety of predictions out there. >> there's a lot of different protections out there. all of them havef the same haver t --all four of them the same big four teams up front. everyone can agree on them as the top four. starting at fifth place, it changes up with teams like elgin and the netherlands. what is interesting about the brazil pic is you see that range anywhere from 20% all th

whether it is jpmorgan or others.have more concentrated banking systems and, so, there is a little bit more protectiveness on the part of the government towards financial institutions because there are a limited number of them. in the united states -- i'm not an expert in how the populace feels. the main street reaction that we have in this country is not that different in europe. >> do you or people like you believe that there will be orifications on mr. dimon mr. blake fine if we screw up fein if we-- blank screw up this mess? want is at thing we global regulatory and legal competition to get after the large financial institutions. as a general matter, not only in the united states, but globally, these institutions conduct themselves in an ethical and responsible way. you have to look at the amount of people involved in those firms in the last few years and you would feel pretty good. >> is this the moment right now? are we at a trade war question mark >> i don't think that will happen. seeing is the residue -- what

they become, a customer of jpmorgan. >> does the new customers just go to jpmorgan?appened before. >> let's get to our twitter question of the day. how will you make money in the second half of the year? , get ready for earnings acceleration, filling my world cup. off the tableoney before the pullback, not being greedy is an essential investment strategy. >> this is what makes a debate interesting. >> i'm going to buy a couple of lottery tickets. >> thank you for sending that in. it is fascinating. >> cell volatility. >> tony crescenzi. >> surveillance continues with radio. "in the loop" is up next with betty liu p. ♪ the -- >> good morning. you're watching "in the loop." i am betty liu. we have a lot to cover. bob nardelli. at ourst, here is a look top headlines this morning. expected to plead guilty today to charges that violated u.s. sanctions. the u.s. will have to pay a record fine, almost $9 billion. streaming video startup, aereo is regrouping after last week. it has shut down its service over the weekend temporarily while trying to figure out if it has any yo

he speak to the jpmorgan senior "hina economist when "first up returns. ♪ ."to "first up i am angie lau. southy is a big days for korea with a world cup campaign with a game against russia, kickoff at 7:00 a.m., so it is a quiet rush hour. it will be the last of the groups to start their games, and the world's largest jeweler coming off a tough comparison to the previous path went tumbling gold prices spurred a big jump in sales. also on wednesday, we are going to be taking a look ahead to thailand. that is where the central bank is due to make a rate decision, and policymakers last met in april and kept things on hold. thever, this was before coup, and different pressures may come into play now. most economists we spoke with expect no change, but three do foresee a cut. all right, let's turn our attention now to china. as we saw, the property industry ending its decline last month, threatening the economy, and joining me is a senior china economist at jpmorgan. good to see you. >> good morning. so, on one hand, we have property prices falling, putting a lot o

in a new sign that demand for mortgage bonds is returning, jpmorgan chase is selling home loan bonds without government backing. they say the deal would be tied to more than 300 million worth of 15 year mortgages. finally, tiger woods back in the game at next weeks cricket national tournament. this first return is missing more than three months due to back injuries. he said he might be a bit rusty but he wants to put himself back into competitive shape. >> thanks very much, carol massar. >> leaders met at the alliance's conference and we sent stephanie ruhle she questioned the chief about theof global most important trends in the ad biz. >> my takeaways twofold. one, is simplicity, we are back to the simplest of advertising. simple ideas, great stories. , i love it. everyone from facebook to dreamworks to twitter are running horses on storytelling. this is awesome. this is fabulous. >> that doesn't sound simple, that sounds complicated. everyone is trying to get into the content again. everyone wants to tell a story. does anybody even know how? >> the advertising industry does. that'

>> unbelievable what's happened in terms of when you compare jpmorgan versus wells fargo.u have to wonder, does the price of wells go over the price of j.p. morsen? >> they are more tied to housing, and if rates rise you could dough a pause in housing and mortgage activity. >> i think molson coors is really exciting. it hadn't seen these prices until you go back to like may of 2008 before the crisis. you know, we were told there would be huge synergies from the merger. the stock was range bound, now it's finally breaking out. i see no reason why this thing couldn't continue higher. i like it a hot. >> what about halliburton? >> i like hall burter, i'm in shall limber jay or baker hughes. >> why those over hall burger? >> smaller, more nimble, but halliburton is having a strong bay. >>> doc, you flew all the way in for us today. >> epi, the india epf. i bought it again. >> national -- >> john deere. >> suntrust. >>> power begins now. thank you very much. >>> and the apple worldwide developers conference beginning any minute now. that is video from just a short while ago, pe

she oversees one point $3 trillion a jpmorgan. her powerhouse group grew to two $2 billion in revenue last year. >> when you think about your business, what you oversee, what keeps you up at night right now? >> we worry a lot about our clients being properly invested. i actually -- you know, everybody worries about the next lack swan event, the next crisis in the financial market. i worry more about the people that, post-2000 eight, having gotten back on track in their asset allocations, there are a whole lot of people still heavily weighted in cash, and i think it is going to be a while before we can get them all properly back into the right asset allocation, which is what they need to be so that they can be invested in the long term. >> do some of those people not trust the system yet? when you look at the current regulatory environment, is it in cash?people to stay >> i think it is just healing from an experience and believing that there is a direction to go in to start making money. if you talk to our largest clients, people r

jpmorgan chase gives us their computers. with that is having to warehouse that and having the platforms to match those goods, 240,000 charities around the country. >> do you go to apple and say, those ford phones, give them to me. >> we would love every company including apple to join with us here. this is about mutual benefit. this one of our great partners, home depot, it was their employees who brought home depot to the table, >> what is so important here, and tim cook, if you are this morning, call her. you are solving laziness. take is a question of why inventory, which is sometimes hard to get rid of and expensive to get rid of. why not do something good for the bottom line? be a good citizen and the employees care about that, help the environment and help these 40,000 charities. if you get clothing that a veteran can put on for their first job interview, that is huge. mattresses and building materials, computers, books, toys, backpacks. personal care products are huge. whenever a company has there is a charity that ne

general electric, johnson & johnson, jpmorgan and newstar energy? >> wow. okay.again. but you'll see -- no, i'm okay. i'm okay. johnson & johnson, two actionsalertplus.com, jpmorgan bank, i see the stock sneaking back up, looks good, nice update, the update is fine and in line. diagio the liquor company, i think it's great. nustar, nustar energy, good yield, 7%, ge 3% industrial. it's oil, it's industrial it's bank and it's drug. you know, wow, everybody really won the game today. i say -- ♪ hallelujah >> -- and stick with cramer. (vo) rush hour around here starts at 6:30 a.m. - on the nose. but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours. i'm spending too much time hiring and not enough time in my kitchen. [ female announcer ] need to hire fast? go to ziprecruiter.com and post your job to over 30 of the web's leading job boar

in a new sign that demand for mortgage bonds is returning, jpmorgan chase is selling home loan bondshout government backing.

>> jpmorgan and bank of america, 15, 16 billion dollars. >> what was the number? 12? >> that was the original number. over all bank of america is fine. i know john najarian owns it. it will be okay. this is in the near term. sensitivity to a correction. it's warranted. >> micron upgraded. nearly doubling the price target. >> b of p and i believe credit swiss as well. yesterday we had the firm go from neutral to a buy. this is all good news for micron, a stock that both pete and i have in portfolios or at least traded. >>> if you are trying to catch a cab around the world, you may be out of luck. find out what uber-has to do with with our first of the day. >> we have a cat debate. and amazon is generating heat on the desk. >> what do you do with a good stock that's down? you buy it. >> this is a company that's been able to grow. over 20% for each of the last ten years and now it can. >> the street is finally punishing amazon for just not having the margin story they need to have. >>> amazon is getting a vote of confidence from goldman today. we're going to find out how

jpmorgan, t. rowe price. >> market leader in jpmorgan. they're putting their problems behind them.lance sheet. good dividend yield while you wait. david: gotcha. >> meantime asset managers doing very well as the market stays elevated. t. rowe price is leading pure play. david: gotcha. david joy, ameriprise. thanks very much, david. good to see you. liz. liz: joy over at nike, coming in with numbers that beat both the top and bottom line. let's take a look. nike, 78 cents per share, three cents better than estimates. as we look at revenue, 7.46 billion. the expectation was for 7.34 billion. everybody talks about nike as far as the world cup is concerned. they say and look that their future orders are up 12%. david: whoo. liz: good headlines out of here, causing the stock to jump consistently higher by more than 2% at the moment. now it is 2.% following results. quarterly worldwide futures orders up 11%. inventories for nike, 3.9 billion. up 13% from may 31st of 2013. good numbers for nike. david: 3% right now. they're going up. liz: a medical technology company with a breakthrough h

jpmorgan, citi, and bank of america. citi is interesting if it holds 46.5, 47. but there are other banks that have been impervious. u.s. bank corp in week and it closed on an all-time high. not an interesting name, not a sexy story, but a stock that continues to grind higher. in an arena where a lot of banks are struggling, this is a stock that's done extraordinarily war. big movers of the day. pop for mankind up 8%. >> well, i already have exposure in this space. i'm long clovis. this is up 102% year-to-date. clovis is down 24%. shame i own the wrong one. i'm not buying it here. >> a drop for -- >> it's a deal that still continues to haunt the company. you're wondering whether they're ever going to pay a dividend. it was part of why you owned this stock. shareholder fighting. it's no touch right now even though there's a lot of value. >> a pop for trulia. >> they had a lot of activity on their site that looked like home buying might be picking up. the home builders themselves did not move as much as i thought they would. i think that sector is still trouble. >>

rolling offor jpmorgan, the economist, was quoted in "the wall street journal" saying that the wealth effect is only half as strong in the cycle. those are your front-page stories. >> there we are. the challenging market environment. the too big to fail, bnp paribas beleaguered, scarlet just covering that. bank of america has a set of fines. has a headache this morning. then there is deutsche bank with some challenges to their trading business as well. liam cohan is a confusing editor, author of books on bear stearns and goldman sachs among others. it does not end. what is the effect of these fine? they have become a blur. here, $13 billion there. do they have any effect? >> they certainly have an effect on the coffers of the treasury, and they are definitely an implementation of what eric holder, the u.s. attorney general, had written about in a famous memo, that this is the way to settle with these big banks. this is the way to move forward with these big banks to get them to settle as opposed to indicting them and putting them out of business. it all behind get us. it does leave us

people, but really at the time, he had a banker friend who was running chase, which is today part of jpmorganchase, and he worked behind the scenes in washington not to make this act weaker a to actually restrain the banks more, and this is fascinating history when i am looking through the documents, and they called on him to make sure that the senators in congress made a stronger constraint on the banking system so that they would be more confidence in the system so that america could coinue to be stabilized, and that is different today, because today, for example, the head of that legacy bank, jamie diamond, he would not be caught dead trying to constrain his own organization, whether or not he is friends with obama. tavis: he does not have to, summersthanks to larry and others, glass-steagall went by the roadside. was the ceo of merrill lynch which is now today part of bank of america. he said in order for america to be competitive, our banks need to be free. ceo ofrubin, the former goldman sachs and the former treasury secretary under clinton, they said the same words, but under clinton,

jpmorgan. and more than stem he. -- and the morgan stanley.w something that the rest of the street did not? the attorney general spoke with bloomberg. >> one of the things barclays was doing was changing the data and misleading clients about how many of the trades were actually filled. they were saying they had all the celebrity propaganda. wherever market is best for the client, we go for the best price. the data that the director was preparing for you big institutional investors showed 75% of the trades were filled in barclays dark pool. >> when you transact in a dark pool, you are not old the legal responsibility of what is called asked execution. expected to be told how it operates. is this something that happens on exchanges. the reason the exchanges will make that case. he also went on to say that it depends on what barclays does next in terms of the effect. for me, relationships that are broken, relationships and trust equal fees in making. what aalked about difficult time this has been. not the first kindle he has had to deal with. the

eastern time, the time selected by jpmorgan. it's a big day for nick woodman and tony bates. the company from the beginning, putting $30,000 of his money in. he had 50% of the company as of today's ipo. he'll have a third of the company, but when i asked why he didn't price higher, he wanted to leave money on the table to, quote, share the love with investors. it is a fast growing company. revenues up 87% year over year from 2012 to 2013, but there was a question about slowing revenues in the first quarter, revenues of 235 million in q 1, 2014 down 8% from a year earlier in this morning, becky in the squawk box team asked woodman, what does that tell investers? here's what he said. >> that tells you that we gaffed a product launch in q4 of 2012 allowing customers to over eat a little, retailers, distribution channel got more invenn story than they should have so there's a ballooned qis 1, and q2 came down handlely. that was not intended or normal. that's a sign of a fast growing, maturing company. >> it's the mark of a company learning as it goes to figure out how to meet sup

"bank of america, jpmorgan and others are accused of selling shoddy home loans to unqualified consumersckaging those mortgages into securities, allegedly knowing they would eventually go sour and selling them to investors around the world." a puzzled reader wrote to the "post," "isn't this what a ponzi scheme does?" last month, the managing director of the international monetary fund, christine lagarde, spoke bluntly about scandals that violate the most basic ethical norms, about how banks and other financial institutions had engaged in risk-taking, leverage, complexity and compensation, including illegal foreclosures, money laundering and the fixing of interest rate benchmarks. "while some changes in behavior are taking place," ms. lagarde said, "these are not taking it far enough." name one banker that's been responsible for his -- yes, they're all male -- his role on the wrecking crew. to the contrary. the banks that brought us down are riding higher than ever. sure, some are paying fines, but even $12 billion is mere piggy bank change for bank of america. and those ceos still shamel

in terms of the cuts that we have seen, the cut to neutral and jpmorgan has gone from neutral to underweight. that caught a few of the analysts by surprise. let's stick with the theme and opec leaders. we spoke to the oil minister in an exclusive interview. incident in the development and countries is enough and we have from the countries to overcome. impactt foresee a major on the production. >> let's go to ryan chilcote. over to you. that special guest is from prestige economics and is in nine different categories, including the euro, the pound, the swiss franc. good to have you. with mark twain. in 1897, he says that they reports of my death was an exaggeration. that the case for opec? what is your take? for the global oil market, i think opec is relevant. portion of global oil supply that is important -- impossible to ignore. it can affect how the price looks. >> talk to me. everyone is watching these pixels -- these pictures. does what is happening change things at all? >> there are concerns about the price situation right now and we iraq andtuation in iran. i think there are a lot of d

jpmorgan chase had to scoop up bear stearns and washington mutual responsible for jpmorgan problems.t. what does this deal mean for consumers. those people who have lost their homes and have not gotten them back. >> so there is a good chunk of money that b of a is expected to put toward consumers. "wall street journal" reporting that $5 billion of 12 billion is expected to go to what's known as consumer relief. things like reducing homeowners principle amounts and monthly payments and spruce up neighborhoods where the crisis left abandoned buildings and other eyesores. that figure is more than jpmorgan had to pay in its settlement last year so b of a is the poster child especially since the government wants b of a to pony up more than that. that's some of the reason you'll see this take a while to get ironed out. probably not official for several weeks talking about this deal. if two sides can't reach a deal, the justice department may file a civil lawsuit against bank of america. >> thanks so much. >>> this bit of news just into cnn. a team from the san antonio military medical cent

. >> jpmorgan. >> you are watching "asia edge." >> getting the situation on the ground in iraq, joining us on the line from the kurdish capital is the red cross. thank you for joining us. let's find out what the situation is on a humanitarian what arerently and iraqis facing? continues to be volatile. the number of the displaced people from [indiscernible] people, as you00 probably know. the fighting started in september -- in december of last year. >> can you hear me? obviously, we have a technical problem at the moment. only -- we will try to get back to him once the sound situation we can imagine it is not easy to contact parts of iraq at the moment. let's look at what is going on market was. better than expected managers index, the hbc number coming through at 50.8. that indicates expansion. we were looking for 49.7. these are the latest numbers and show perhaps a slowdown for the chinese economy may not be as pronounced as perceived by some. continuing astocks six-week long rally. >> harley davidson doesn't normally come to mind, but they are hoping to change all that when it comes

jpmorgan chase is planning to sell u.s.loan bonds without government backing according to people with knowledge of the transaction. they say the deal will be tied to more than $300 million worth of prime mortgages. finally, tiger woods is back in the game and next week's tournament. it's his first return to golf since missing more than three months due to a back injury. be rusty but once to play himself back into .ompetitive shape >> thank you very much, carol massar. they met at the lyon conference and we sent stephanie ruhle. david sable of young and rubicam about important global trends. >> one is simplicity. we're back to simple ideas, great stories. i think it's so instructive. i love it. everybody from facebook to dreamworks to twitter are running courses on storytelling. >> that does not sound simple to me. everybody and their brother is trying to get into the content game. everyone wants to tell a story. how?anybody even know >> the advertising industry does. that's what we do. the industry was written off much like

i love jpmorgan junior analytics and say mrs. the currency everybody wants, sterling.is great. wonderful. it's just hope the market is not so long it chokes. it is the most coveted currency. let's just hope it lasts. nothing last forever, does it? the aussie dollar doing well. chinese manufacturing data up. back to you. in 25 minutes, "surveillance" with tom keene. he joins us with a bit of a preview. bnp. will touch on it is percolating, but nothing like the world cup draw. they say draw in england. it is not a tie. much more importantly, in seriousness, iraq. the situation deteriorating over the weekend. dr. croft on oil at $150 a barrel. with his first day of summer, we bring it over to the equity markets. with a great double barrel on the equity markets. tobias lentz gurevich wolde-giorgis from citigroup. michael hall and will join us. skews me, i'm joking. michael hall and will also join us. all eyes over here, also on the world cup, but wimbledon is getting underway -- playinga, the u.s. is still, i believe england has gone home. >> or have been a few tears here.

. >> why not apply this and this includes jpmorgan.sparency that makes the rules. >> there is something wrong. i tip my hat to a lot of those. >> a lot of term limits, a lot of them are going home. they promised and that is what it is. [talking over each other] >> and so how about we quit taking this and tell her situation is cared for? >> when thomas jefferson wrote this, he definitely said serve your country and then go back to your firm. go back home. >> they are rooting for their local constituents. right back with their district. >> we need a turtle farm here. so i am going to vote this guy and. >> a lot of these people have great college degrees from ivy league schools. charles: i know were not supposed to be on the up and up about it. the disc then continues to go on and i hope we can one day figure it out. >> we have this example. >> we had no money when we got there. we struggle to piece together the resources for mortgages for houses and children's education and it was not easy. >> wasn't sally's kids asking for money to? whe

the stock getting upgraded to overweight at jpmorgan. airlines is mixed but certainly this is one sector that you want to watch her closely. when you do have sharp movements in the price of oil, it is basically an inverse relationship between the stock --ce, the airline strikes the airline stocks and oil stocks. there is a rebound from the sharp drop on friday. chinese airlines and qantas airways were down 1.5%. and staying on the same of safe 1282 trade, we are now at in gold. >> the fighting in iraq has been an important topic for our guest on morning. new edge managing toby lawson says market reaction has been, but things can -- has been calm but things can change quickly. have reactedrkets with movements in crude and precious metals and selling at a equities and bonds. it is pretty normal when you see some sort of external geo-political shock to the markets. but right now, in terms of oil supply, the situation in iraq is very much concentrated to the north of the region. most of the oil production is in the south. immediately, in ter

jpmorgan makes loans and they become the suppliers for the allied side. we come in in 1917 and we have sold billions of dollars worth of supplies to the allied side. we would've been happy to sell them to the germans, as well. there is a problem. the british fleet is in the way and we cannot get through the blockade. at least commercially, munitions wise, we are not neutral. we do, even though tr and others are calling for preparedness, they call for universal service. meaning that we should do something like this with any australian do. do.he swiss and australians there should be several months of training for men when they reached a designated age of 19. only get involved, we have a reserve ready. ivy league men will go to this. kermit, you know that tr had four sons. ted, kermit, archie, quentin. a miniature tr, a real terror. kermit got married and went to south america. the other boys are involved in the reserve training. when they get in the war, they very quickly come over and join the command, not a staff officers. instead, they are out there and

let's get more now from head of japanese equity research of jpmorgan securities in japan. very disappointing rode on the export and the import side. but if you look at external demand, do we still need a weaker japanese yen? and is the boj going to come to the table to help engineer that? >> look, japan is not about exports. japan is about the domestic economy. and that's really what the bank of japan confirmed. you know, there was a bit of a hit to domestic demand because of the v.a.t., the consumption tax hike. but the economy is now coming back very nicely. and important, it's not just consumer spending, but also business investment that's kicking in as an engine to grow. so here you've got a new japan. this is not exports. this is about domestic demand. >> they also talk about the supply side constraints coming in the form of labor market shortages. but then i look at the latest wage report, what declines 3.1% and i do worry about this domestic demand recovery story. >> you shouldn't worry about the domestic demand recovery story. wages themselves are slow to respond t

caterpillar, jpmorgan, bowing. >> you can't get any more boring than that. >> that is all perfect. then you start changing it because you hear news come out on tuesday and the stock is down. friday want to get back in. you have a long-term portfolio. >> these companies have great management. whether it's thomas watson were steve jobs. >> i know we talk a lot about this, but the trans regeneration, i think this is part of it. >> mickey mantle signing the checks at disney. >> everybody loves it. before we go, do you think that she can reignite a culture at general motors? >> yes, i think she can. we are going to forget this and move on. >> i give her a grade a. charles: we will be right back for more and "making money" [ male announcer ] whether it takes 200,000 parts, ♪ 800,000 hours of supercomputing time, 3 million lines of code, 40,000 sets of eyes, or a million sleepless nights. whether it's building the world's most advanced satellite, the space station, or the next leap in unmanned systems. at boeing, one thing never changes. our passion to make it real. ♪ charles: we are back

coming the head of jpmorgan and black rock most folks want to work at goldman because of the perceivedpect of money. u.s. shares of gw pharmaceuticals jumping big time after promising results from cannabis treatment did the experimental product has proven effective in treating young adults and children suffering from that the let's see. more americans than ever are giving up on uncle sam, over 1,000 u.s. citizens renounce their allegiance in the first quarter which is the most ever in that period. some analysts think because of an irs campaign declare bank accounts overseas. that is the latest on the fox business network giving you the power to prosper. melissa: amazon expected to unveil a smart phone and a big event tomorrow the research firm iec says smart phone sales are slowing. why is amazon doing this watch right now? it to break down, techno buffalo and jonathan hoenig is that with this as well. >> it is a very over saturated market. avalanche samsung, 80% of the profits last year alone. there's not a lot of room for other players that amazon does sink a lot differently. melissa

>> it was not that complicated but with jpmorgan and hope that is not a swear word. [laughter] i was a banker and the ftse down the appreciable amount it was too low were interest rates. this is really cheap money. following what happens is as a consequence what happened was people wanted you. if you're a banker in the midwest. that'd is absolutely right. and then to buy a treasury is. i have to get some interest-rate or some yield. it with that some of prime lending the pork credit decisions to expand credit loans so they could never afford to pay. that is what causes this instability. because i found exactly the same thing in england in the 1920's. it was south american. that after that they went back to'' said then the low interest-rate environment but then to buy the u.k. government debt you only get small interest rates. with that crazy bolivian government bond of crazies speculative argentinian stocks and they blew up. >> host: so now how to destabilize it to stop another bubble? >>u7 there should be more a bishop for international coordination look at britain

you hadpullman, jpmorgan, you had the vanderbilt. you have the carnegie use, you had the rockefellers come a you had the kennedys. now we are seeing we don't have those individuals. we have these multinational corporations. jpmorgan has been replaced by walmart. the carnegie's have been replaced by yum! brands. the rockefellers have been replaced by amazon. the kennedys have been replaced by disney. you have these multinational corporations doing the same thing that these robber barons did in the early part of the 20th century. they don't want to pay workers living wages. it only to give workers any dignity. they don't want to give workers any respect. they don't want to recognize a union. what we do now in the 21st century is what our brothers and sisters from the fight for 15, walmart isor our doing. mobilizing, not only on a local and national and international scale. looking at the issues of inequality, and how the 1% are controlling 99% of our economy. with all of this going on people are rising up. workers from all over the wor