it's just one chapter in the london whale trading factor. million to four regulators that have been investigating the situation for over a year, $200 million to the federal reserve, $200 million to the s.e.c. the s.e.c. settlement came with the rare admission of guilt acknowledging to the agency that its giant months-long derivative trade violated federal securities law. jamie dimon said in part, quote, we've accepted responsibility and acknowledged our mistakes from the start and we have learned from them and worked to fix them ". steps undertaken demonstrate substantial and healthy introspection as well as the seriousness of a commitment to a strong control environment. it just -- it seems like the regulatory issues keep on coming, especially where london whale fallout is concerned. and in a filing today the bank says it received a wells notice from the cftc, indicating cftc staff have recommended a separate parallel action. so, simon, even though today's action is a big milestone for the firm and for regulators, this chapter and this book

where the london whale trade happened.understand again on some credit card issues for over 300 million. that is 1.2 billion. that's a lot of money. >> right. that's a lot of money and again it has been racking up fines, paid out between 2009 and 2012 they paid out 12% of earnings in fines and north of 20% in litigation expense. those numbers just keep rising. this one's different though. ashley: yeah, because in the "london whale" case they admit wrongdoing. how significant is that. >> well, i'm not a lawyer. don't play one on tv. i would expect it is fairly significant. it opens them up to whole another round of prosecutions, both private action and potentially government action. ashley: in that case we have not heard the end of the "london whale" disaster? >> i don't think we've heard the end the "london whale" disaster. this company has a lot of dust kicked up over internal controls. dimon is really starting to try to address those head on but it will cause significant increase in g and a, general administrative expense

this one at least, $750 million in fines over the "london whale" former fdic chair sheila bair whether it is enough to set an example. >>> plus what really happened behind the scenes that caused larry summers to bow out as the next fed chief? hmmm. we have all the news on wall street and the scoop. more money straight ahead. ♪ melissa: big news about jpmorgan developing and a high-profile victory for the sec. not only is the bank going to be hit for at least $750 million in fines for the "london whale" debacle, it will report admitting culpability. forcing companies to admit wrongdoing as part after settlement is part after major push by sec chairman mary jo white and not something that regularly occurs. here to weigh in with her expert opinion former fdic share, sheila bair. happy to have you back. >> happy to be here. melissa: let's get right to it. what is your reaction to the jpmorgan news and is it important that firms admit some sort of culpability or wrongdoing rather than just paying a fine? >> speaking in policy terms, yes, i think this is a positive development. i can commend

the feds have already filed criminal charges against two colleagues of the london whale but not the whaleh mcdonald from the fox business network with me now. e. mac as i affectionately call her, explain these fines. >> they're big fines. they come from office of the comptroller of the currency from the federal reserve, the s.e.c., and from a uk authority. the biggest one is the $300 million whopper from the occ. $920 million in fines. and basically what we've seen is a rare admission of wrongdoing by a bank to the s.e.c. basically saying that yes, there was egregious breakdowns in controls in governance, and they put shareholders at risk. so jpmorgan and the london whale trade is basically a story of basically misleading investors, misleading, and misinforming regulators, harris. >> yeah, but there could be more. >> yeah, there could be more. this space is 18 probes and they've already spent $22 billion on basically fines and penalties since 2008. and today, too, not a good day for jpmorgan chase, harris, they also paid $389 million, 309 million of that was refunds to credit card holders

this one at least, $750 million in fines over the "london whale" former fdic chair sheila bair whether it is enough to set an example. >>> plus what really happened behind the scenes that caused larry summers to bow out as the next fed chief? hmmm. we have all the news on wall street and the scoop. more money straight ahead. ♪ [ tires screech ] ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutioning power. supercharging turbines with advanced hardware and innovative software. using data predictively to help power entire cities. so the turbines of today... will power us all... into the future. ♪ [ engine revs, tires squeal ] [ male announcer ] since we began, mercedes-benz has pioneered many breakthroughs. ♪ breakthroughs in design... breakthroughs in safety... in engineering... and technology. and now our latest creation breaks one more barrier. introducing the cla. starting at $29,900. ♪ melissa: big news about jpmorgan developing and a high-profile victory for the sec. not only is the bank going to be hit for at least $750 million in fines for the "london whale"

the london whale, that would be out of the reach of the oversight of the commodities oversight tradingssion, and the derivatives in dodd-frank. so that's just an example how the law is written, but the ones that have gone into place have been notably weakened by a very concerted effort by the financial industry to get a second bite at the apple. >> abby you are not a fan of dodd-frank. why not? >> we're about a trillion dollars short in tending than where we would otherwise expect to bein the recovery. by 2015, gdp growth will be 3% slower than it would otherwise been without the dodd-frank act. and regular consumers have noticed that free checking as all but disappeared and fees have gone up. and that's because congress cannot just shut their eyes and pretend everybody will go on as usual, because it hasn't. >> we have to take a break. stay with us. why some critics say the school is setting the kids up for failure. ♪ >>> we're talking about the wall street crisis of five years ago, and where we have come since then. our panel is still with us. i just have to ask you abby, what regula

. >> we're watching jpmorgan because they have agreed to a settlement with regard to the london whale fine, the trades there. $700 million with regard to the number that they are actually going to pay in fines related to the london whale. these are the interest rate trades that ultimately led to the multi billion dollar losses at jpmorgan. one other thing to note that's a little interesting is last quarter jpmorgan actually set aside about $700 million in possible litigation expenses, so what we're hearing from dow jones is a $700 million settlement for fines related to the london whale. we'll give you more details as they become available but a very big fine and very big story with regard to jpmorgan. back over to you. >> we want to get more on the tragedy in washington. scott cohn following the latest details on this terrible shooting in washington, d.c. >> police have identified one of those two people. he was described as a white male. he is not a suspect. they are looking for a black man in his 40s, 5'10", 180 pounds, medium complexion wearing an olive military-style uniform. the

jpmorgan will pay almost $1 billion more than expected and admit wrong doing as part of its london whale trading debacle. and that want its only big legal payout today. what the fines and settlements mean to the firm, its business and shareholders. >> and buying in the sky. we don't like it but we do it, shell out money for stuff when we fly and it's becoming a big profit center for the airlines all that and more tonight on "nightly business tonight," thursday, september 19th. >> welcome, everybody. i'm tyler mathisen. yesterday stock investors were caught by surprise. today they caught their breath. stocks exhaled modestly one day after the rally on the unexpected news the fed would continuing buying bonds every month to keep the economy on track. most figured the fed would take its foot off the gas pedal, if only slightly. yesterday record highs for the dow and s&p. but today profit taking, not the blue chip dow stocks saw a 40-point pull back. the nasdaq saw a small pullback of 5 but the s&p was down 3. >> some economic data out today were not enough to lift the markets. first time jo

this week jpmorgan faces for the london whale losses.enting settlements of the s.e.c., occ, federal reserve and uk's fca could top $800 million. even beyond that, the total cost of london whale is still growing. they face investigations at department of justice, new york attorney general, and fcc looking to see if they manipulated credit markets with london whale. jpmorgan will not admit wrongdoing. d.o.j. is looking at their trading in electricity market and could settle on fraudulent mortgage-backed securities. so much issues, such a wide array of issues. it could be 2014 and well into that year before the worries are behind the firm. >> it's unbelievable, isn't it? >> it really is. just keeps going. >> thank you so much, kayla with the latest there. >>> it's all about the fed and ben bernanke. we'll handicap it for you. wall street stock pros weigh in next. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possibl

and the london whales side. >> we continue to follow the jpmorgan story.inue to move forward, london whales, still on schedule, limited to four regulatory agencies. and the u.s. justice department as well as commodity futures trading commission, pursuing their own half as they look into and probe trading is that we noted earlier, did cost the bank $6 billion but that is something we focus on and jamie dimon sent a letter to his folks, thousands of people on risk and compliance and got to roll up your sleeves and fix whatever problems you see and don't ignore them and continue to be transparent. cheryl: and -- dennis: charles payne is talking rockets with orbital sciences. charles: they are going to send a cargo space ship out tomorrow to the international space station. it is a big deal for them. the test flight but they will begin after that regularly scheduled flights with the space station, astronauts, one american, a woman. the big news is they will bring chocolate for her. her husband could together a care package. on this particular flight there are

and uk regulators today over the london whale losses. fines could top $900 million due to currency conversions. the s.e.c. and the office of comptroller and the currency said, and the uk's financial authority are expected to charge jpmorgan with poor controls surrounding the bad derivative debt. the settlements were worked out with each individual agency for several actions. reports say the regulators worked together to coordinate today's announcement. as far as the settlement, reports say jpmorgan will make a rare admission of wrongdoing. the occ will receive the bulk of the fines, about $300 million. last year, a senate investigation found jpmorgan misled occ competitors about the risks posed by the bad straights. the bank is still wrestling over the trades that cftc is probing whether jpmorgan's london traders manipulated the derivatives market. the federal prosecutors and fdi are gathering evidence that could result in criminal charges against the company. a grand jury indicted two former traders this week for their alleged roles in

jp morgan will pay a settlement and will admit wrongdoing in the $6 billion london whale trading disasterast year. regulators say the bank failed to properly supervisor it's london trade traders. >>> a texas appeal court has overturned the money laundering conviction of house majority leader. convicted of misusing political campaign funds. he was give an eight year prison sentence but was allowed to remain free during his appeal. the appeals court said there was not enough evidence to support the conviction. >>> the united nations is holding closed door meet negotiation thailand. testimony will be heard about one woman whose family didn't even know she had been abducted by north korean agent years ago. >> reporter: if she is listening, her brother has a message for her. >> i miss you so much. i miss you every day. i've been waiting so long for her. i'm deaf. i can't hear any more. >> reporter: but if anocha is alive today. she would be 58. for more than a quarter of a century her family had no idea how or why she disappeared while working as a massage they arist in macao in 1978. then cam

it follows a trading scandal last year nicknamed the london whale and cost the bank $6 billion. it is believed to be the most expensive video game ever developed. grants left auto five -- grand theft auto five was released and so far users appear to like what they see. $265 million. some forecast sales above $1.5 billion. presumably it looks like a pretty good investment. >> marcus carlson, thank you very much indeed. >> a glitch in -- facebook and twitter being made. >> certainly did not have to go through all these proxies and shortcuts, to get access to twitter and facebook, which have been blocked in iran since 2000 and nine when there were antigovernment protests. some saying my first legal tweet from tehran. but it was shut down pretty rapidly. is this a fight between hard- liners and moderates? why she asking that question? the new president of iran has promised to free up internet access, but there are hard- liners who are overseeing internet censorship crusade is not the time to lift these restrictions on the internet. it seems to be some kind of ideological tug-of-war

the reports that jpmorgan could pay $800 million in fines to settle the sec's civil action on "london whale" trading. sound like a lot of money but some say it is not enough. we want to know from you, are financial firms getting off too easy by paying these fines? we'll bring you answers later in the show. ♪ [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for w much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my business, and definitely not with our health. innovations that work for you. that's health in numbers.

jpmorgan shareholders suffered $6.3 billion in pain with the losses as it relates to london whale.re now talking about something in the order of $20 billion. without question, an unprecedented number to settle the potential charges related to the mortgage fraud. i am still asking the question, as andrew and i debated a couple weeks ago on this show, where is the corporate act of responsibility and why are shareholders -- why is the investing public being asked to continue to accept such, what i think is inordinate amount of pain, in addition to the trading losses? >> andrew, i imagine the answer is because they did something wrong. >> that's exactly it. i mean, if you take a look at activity engaged in by jpmorgan, it's extremely problematic. you don't just have the london whale debacle where they paid out close to $1 billion and admitted to wrongdoing, they paid over $400 million for energy manipulation charges. the firm is operating under six investigations by department of justice, operating under four enforcement actions by regulators. this is a firm -- >> marc, marc, the quest

and british financial authorities for the trading scandal known as the london whale. the bank posted $6.2 billion in losses last year on derivatives trading conducted at its london office. last month prosecutors filed criminal charges in a new york federal court against two former traders. they accused them of trying to hide the losses. regulators at the securities and exchange commission condemned executives for failing to quickly inform financial authorities about the trades in question. chief executive officer james dimon took a rare step of accepting responsibility for the wrongdoing. he said they've learned from their mistakes and have worked to fix them. that's all for now in business news. i'll leave you with a check on markets. >>> thousands of residents are still waiting to go home. vast tracts of land are still waiting to be restored. and more than half the fishing ports on the pacific coast must be rebuilt. people in northeastern japan still face challenges following the 2011 disaster, but step by step, they're moving forward. see their stories every wednesd

. >>> jpmorgan chase is paying one of the largest regulatory fines ever for the so-called london whale scandal. it will cost it nearly a billion dollars. and those are the headlines, the news continues on al jazeera next hour. "inside story" is next. ♪ ♪ >> natural gas production is a booming business, and fracing is a big reason. the debate over safety and pollution, aim mri indications for america's energy future. that's the inside story on al jazeera america. ♪ >> hello, i'm libby casey. as america searches for energy independence, natural gas is a big piece in a complicated puzzle. hydraulic fracturing, or frac-ing has opened up a vast natural gas resource, but the it is controversial. it releases methane. but a study examined more than 500 wells at 190 sites. the researcher found that while frac-ing released significant amounts of methane, but was successful at capturing 99% of the gas. by 2040 half of the nation's gas will come from frac-ing, it is estimated. using chemicals, sand, and lots of water under high pressure, drilling crack open the shale, releasing the trapped gas ins

the london whale struck a deal with prosecutors and didn't have to plead guilty. two others have been charged criminally by new york southern district. a spokesman for jpmorgan declined to comment. the lawsuit has not been approved by the cftc. just to the commissioner level. >> thanks very much. the last word there. you wonder what the end game here is for regulators and jamie dimon and jpmorgan. >> they definitely have him in their sights. >> yes. >> we have blackberry in our sights. shares have been halted for a few minutes pending news. don't know what the news is. we'll wait for that. it's interesting it's on a friday afternoon. this is a stock that put itself up for sale recently. we've been hearing that the bidders that have stepped forward aren't interested in buying the whole thing, just pieces. maybe we'll get clarification on that coming up. right now, the stock down 2.3% in halt mode. meantime, stock market continues lower. dow down 119 points on a very heavy volume day because it is expiration daye day here as well. >> cleveland clinic, one of the lea

it is admitting wrongdoing in the london whale scandal.n a statement, diamond said the bank accepted responsibility and the traitors involved in trying to hide the losses are facing criminal charges for falsifying records, and the u.s. justice department is still investigating the bank for possible criminal violations. >>> less than two weeks until obamacare kicks into high gear. there will be four plans to choose from. we'll tell you how to determine which of the four is best for you and your family. that story and more straight ahead. faultlines investigates why so many babies are dying in america's inner cities. >> lot a times programs and stuff all they care about is numbers. they don't care about people. >> faultlines: america's infant mortality crisis. >> today on twitter and facebook we have been asking you, which plan will you choose under obamacare, and why? she is a baby boomer who is a grandmother. we'll have more on whether this is the right choice for baby boomers in a moment. tell us what you think. we realize that some of yo

was going to talk about the twitter ipo which is very close, but he got something else on the london whaleclusively to him. >> well, jpmorgan is in the middle of settling this thing. the number, from what i understand from people close to the bank, is that they're going to pay at least -- this is what i've been told -- at least $750 million as part of a fine, i guess it's going to be broken up between the two main regulators investigating this, is starts exchange which is and the control of currency, leading them to to the errant london whale trader, jamie dimon initially the ceo said it wasn't a big deal, this guy got on the wrong side of a derivatives bet, it then cost the bank something like $7 billion. they're going to pay a fine, and the charges from what i understand are over not having the proper controls, you know, to prevent something like this. it's going to be interesting. they're going to admit guilt in this thing from what i understand. but here's the thing, i don't believe -- and i still have to report this out -- ttat they're going to admit guilt to anything more than failur

>> well, tyler, the banks's price tag forty london whale trading debacle has the twoen costly and still growing. other regulatory issues are popping up. why it matters and what's next for that stock. that's up next after this break. you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutionizing power. supercharging turbines with advanced hardware and innovative software. using data predictively to help power entire cities. so the turbines of today... will power us all... into the future. ♪ >>> rite-aid moving higher. the drugstore chain reporting a surprising second quarter profit. it boosted its earnings outlook based on continued sales growth and profit margins, the stock right now is up just under 20%, ty. >>> we

the london whale is a complete and total embarrassment.e -- you know, the regulatory issues are a big deal, but they're trying to address them. but that's hardly a reason to want to fire your ceo, especially if, you know, they're doing the 99% of their job they're supposed to do, which is running the institution as effectively as he has. >> by the way, this is just the second quarter, but for the second quarter net income was 6 $. -- $6.5 billion, compared to $5 billion for the second quarter of 2012. i'm trying to figure out from a shareholders' perspective, who would be doing -- do you have ideas? in-f you're saying you want this guy out, who are you saying is equipped -- >> i already said. i don't think anyone is equipped to run a bank that big and complex. but i think this guy's track record at this point means they should go with anyone else who's available. >> i mean, you've got -- we could -- >> anybody else that's available? hey, are you available? >> sure, i would do it. i could do just as as well, ignoring the london whale. >> i

it is admitting wrongdoing in the london whale scandal.a statement, diamond said the bank accepted responsibility and acknowledged its mistakes two of the traitors involved in trying to hide the losses are facing criminal charges for falsifying records, and the u.s. justice department is still investigating the bank for possible criminal violations. >>> less than two weeks until obamacare kicks into high gear. there will be four plans to choose from. we'll tell you how to determine which of the four is best for you and your family. that story and more straight ahead. >> every sunday night al jazeera america presents gripping films, from the worlds top documentary directors >> this is just the beginning of somthing much bigger... >> this sunday...the premier of "do the math" >> these companies are a rogue force... >> one environmentalist says fossil fuels equal disaster... will his movement add up add up to change? >> we will fight it together... al jazeera america presents... "do the math" premiers this sunday 9 eastern. [[voiceover]] ever

one trader was nicknamed the london whale because of the size of his risky bets. the bank has been fined because of failing to get a grip on its risky business and not being upfront with regulators. understand them, and they were not adequately controlling them. there is clearly something there that we would have expected firms to be taking better care of after the crisis. the problems centered on the london office where traders made the losses on sophisticated financial instruments and try to cover them up. was aan first said it tempest in a teapot, but now it is a huge embarrassment for a bank betraying itself as part of the american dream. >> a dream come true. we are grateful to be part of it . >> regulators on both sides of the atlantic have imposed big fines on jpmorgan chase. 100 37 million pound penalty in the u.k., the second- largest ever in modern banking history here -- 137 million pound penalty in the u.k. >> the thanks chairman, jamie dimon, says they have accepted responsibility and acknowledge their mistakes from the start -- the bank's chairman. s

one trader was nicknamed the london whale because of the size of his risky bets. the bank has been fined because of failing to get a grip on its risky business and not being upfront with regulators. understand them, and they were not adequately controlling them. there is clearly something there that we would have expected firms to be taking better care of after the crisis. the problems centered on the london office where traders made the losses on sophisticated financial instruments and try to cover them up. was aan first said it tempest in a teapot, but now it is a huge embarrassment for a bank betraying itself as part of the american dream. >> a dream come true. we are grateful to be part of it . >> regulators on both sides of the atlantic have imposed big fines on jpmorgan chase. 100 37 million pound penalty in the u.k., the second- largest ever in modern banking history here -- 137 million pound penalty in the u.k. >> the thanks chairman, jamie dimon, says they have accepted responsibility and acknowledge their mistakes from the start -- the bank's chairman. s

jay monday die monday already paid $11 billion for the london whale trading. >>> coming up later we'll tell you how much extra you'll have to pay at the post office. that's all i have an real money. victoria azarenko >> the price of postage may be going up again. the u.s. posal service wants to raise the price for mailing a first class lettered by $0.03 to $0.49. the agency is expected to lose $6 billion this year. if approved by the postal regulatory commission the higher rate will take affec effect in e january. >>> families torn apart by the korean war in the 1950s were going to be reunited for the first time in decades. but as we have reports from seoul the reunion fell apart after north carolin north koreaf the agreement. >> getting ready for the famil family's festivities. but then she was getting ready for another family event. one that had been more than 60 years in the making. >> all this waiting is finally bearing fruit. i feel honored to be able to see their faces. some people never got to see their family's faces. and in some cases their family members are no longer alive.

knows what they faced on the "london whale." he knows what they face on mortgages.omes down the pike. he will spend money to prevent future problems. that is where a lot of his attention is doing these days. doing what we were first to report here on fox business network, constructing what is known as regulatory moat. it ring fences the firm in a way that it is very difficult for these sort of issues that occur -- the "london whale." maybe those guys mismarked purposely the positions, trading positions. that is what they have been indicted for. but it started out as a screw-up, right? they got in over their heads. they bet too much on a derivative. this regulatory moat is supposed to be a sort of a stopgap to prevent stuff like that happening again. at least that is what dimon is telling people. maybe it is wishful thinking. i know this, banking executives he is pretty good. most able of all of them. if anybody can run complicated bank it is him. that is the how he views it. they have a ring fence around the regulatory issues. they know they will pay billions. they

settle regulatory charges, the bank may face criminal actions related to last year's so-called london whale trading fiasco. the paper says the fbi and manhattan prosecutors are collecting evidence that could lead to criminal charges against the firm. the company could face yet a third action tied to the trades. that would come from the commodity futures trading commission which regulates derivatives. here to discuss the trouble the bank faces, former securities and exchange commission chairman harvey pit. welcome, good to have you with us. >> good to be with you. >> what's significant here, sir, apart from the size of the problem and settlement since it is massive, apparently the sec chair has to admit to wrongdoing. how big a deal and what will it mean to jp morgan. could they lose clients? >> i think it is a very big deal. they're going to admit they didn't discover the london wales trades quickly enough, and had lax procedures or lack of significant systems of internal control. those admissions will be used in subsequent proceedings that may be brought against jp morgan, so this is a maj

the bank will pay a whopping 920 million dollars in connection with the london whale trade which led to the bank's 6 billion dollar loss last year. the fine goes down as one of the largest ever for a single trade. ceo jamie dimon responded stating: "we have accepted responsibility and acknowledged our mistakes," also ....the bank will refund 309 million dollars to credit card customers. the consumer financial protection bureau says chase wrongfully charged add-on protection without customer consent. the "infomercial king" is free...for now. kevin trudeau was thrown in jail wednesday night.trudeau - who ran an infomercial business in illinois - is accused of misrepresenting products - and then hiding his income in overseas accounts.he was recently caught transfering $20,000 from an account in austrialia and using the money on expsenive haircuts, liquor and food. trudeau says he spent the money because he has no cash or credit. beanie baby mogul ty warner is pleading guilty to tax evasion. he failed to report more than $3 billion in income that was hidden in an swiss bank account. warn

morgan $700 million dollars over the london whale trading loss last year. triple aaa reports.. the nation has gone 1,000 days of gas prices above $3.00 per gallon. and at our last check 13 people are dead following yestrday's shooting spree in dc. >glen schultz of performance trust joins us on the show now and glenn has the bond market priced in fed tapering? > > absolutely, the bond market is priced in fed tapering. i think in the might of the bond market, tapering is all but certain. so the question really becomes how much or what degree does tapering will occur? right now people are probably pricing in something between a 15 to $20 billion reduction in the fed's purchase program. right now, the federal reserve is purchasing about $80 billion a month in assets. so we're really looking at something like a 25% reduction in the tapering program in terms of volume. so we will see what the said that the sabin the rates setting meetings ended on wednesday. > yester day, we had a big rally in the market as larry summers withdrew his name from contention as the next fed chair. do you

agreed to pay $800 million in fees for a multibillion dollar trading loss , a case known as the london whaleit is really just chump change for this bank. jpmorgan will acknowledge it should have caught the problem faster. the settlement reflects a tougher line now taken by the fcc. they are seeking admissions from defendants. they want the bank to admit it -- admit it's trades allowed a risky position that would cover their losses. they are admitting guilt. but is this the type of punishment the occupy wall street movement was looking for? are -- are occupy protesters satisfied with the movement? i am joined by mike perlman, director of the film "the 99% -- occupy everywhere." i started by asking sam to characterize the movement, two years after it began. >> people do not see occupy in the headlines the way they did before, and assume it has gone away or something. for a lot of people involved, it really connected us with each other. i think a lot of us felt alone in our politics. it brought us together in a deep way. we have legitimate critiques a lot of the country identifies with. it is g

it is paying a whopping $925 million fine to regulators for the so-called london whale trade. the company admitted wrongdoing. in earnings news, fed-ex beat analysts' expectations. oracle's revenue was light and the company had a disappointing outlook. we'll bring you my interview in a couple weeks. >>> the federal reserve opted to keep its foot on the accelerator and continue the moyly bond buying program, saying there is not sufficient evidence the economy has recovered to back off just yet. joining me now, a man who was in the room for the feds' two-day meeting. voted for the no taper. james bullard, it is great to have you on the program. >> thanks for having me. >> thank you so much. everybody was waiting and watching for the feds to announce that they were beginning to terrapin. you voted no taper for this time. why? what was behind that decision? >> well, i think it was a close call. but basically, what happened was when we laid out this road map in june, what we said was, we were looking for a stronger economy in the second half of 2013. and so far, you know, we're onl

against capital markets and economies bail ends bailouts and the bond pocalypse class crashes london whales and obamacare m.f. global jefferson county and cyprus manipulating metals librorum for ex the empire squids and tapeworms we've covered it all here on the kaiser report but aside from the bad and the ugly we've also covered the good silver gold and bitcoin the global insurrection against banks to rock your patient aka jumbo move your money and campaign will pay and the most interesting guest of all financial media mainstream or alternative and the best audience for sure that's you right stacy yes max and of course five hundred episodes of the kaiser report we have an audience out there including a looks like g c h q or n.s.a. they've been forced out of the dark by edward snowden and they after only a little bit. that only people who put it that the time clearly here. there we go we started the show in november of two thousand and nine four years later we're at the five hundredth episode and you know i'm going to go over some of the topics the things that we've seen over these years an

the biggest one probably being the announcement that a jpmorgan london whale settlement could come as soon as this morning. the settlement is expected to be for at least $700 million. some reporting that number could be -- >> 900 million? >> probably closer to $900 million. we should note that prosecutors still investigating jpmorgan for potential criminal wrongdoing over some of the supervisory issues. in other news, chrysler is late in the stages of preparing for its ipo documents. and some good news for jpmorgan, kate kelly reporting that they may be expected to underwrite that offering but will not likely be the only bank on the ipo. this one, mark herd is going to have a tur time. oracle gives a cautious outlook for its demand and software over the internet sales force and the like. it's the third consecutive time that oracle has missed its earnings estimates. and there's been a lot of turmoil over in the sales forces at oracle and questions about some of the reorganizations that have taken place under mark hart. of course, mark coming from hp, you remember larry ellison brought

morgan has been fine for rigging energy markets they've been involved a course in the london whale sued by fannie mae for fraud under investigation for bribery in china now one point does the penny drop and somebody says you know what these guys are on lot of assyria lawbreakers and you've got us terry rolled out. in appropriately in the face of quantitative easing and federal reserve policy that is clearly being manipulated for the benefit of a few rogue what i call financial terrorists but guys like warren buffett at the very point that published it to get sean sean upon it now you know we all know that the libel scandal went on for fifteen to twenty years i think the regulators must have understood that there was an issue there it was only after the ball injury by all the got made public that any kind of charges got laid and that's the whole point now is to draw attention on the fact that not a. is that evidence in their control not only is the the agency has discretionary discretion not to close any investigation because it's not quote unquote law that they do so that the it would b

eight hundred million dollars in fees for a multi-billion dollar trading loss case known as the london whale eight hundred million dollars may sound like a lot to you and me but it's chump change for the bank but one positive thing did happen though. j.p. morgan will acknowledge that it should have caught the problem faster the settlement which reflects a somewhat tougher a-y. now being taken by the f.c.c. in seeking admissions form defendants also will require the banks to admit that its lax controls allowed traders in a unit in london to build their risky position and cover up their losses so there are men in their guilt but is this the kind of punishment the occupy wall street movement was looking for and what did the occupy movement actually do i was joined earlier by occupy activist sam jeweler and a lot to say in our d.c. studio and mike perlman in our new york studio mike is the director of the film the ninety nine percent occupy everywhere and i started off by asking sam to look back and characterize the occupy movement two years after it began. people don't see occupy in the headlin

the london whale sinking jpmorgan somewhat. elizabeth mcdonald's bottom line coming up.. aid to get rid of chemical weapons. are you kidding me? he wants us to pay to get rid of them? that is coming up. ♪ with the spark miles card from capital one, bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less? ahh, oh! [ garth ] great businesses deserve limited reward here's your wake up call. [ male announcer ] get the spark business card from capital one and earn unlimited rewards. choose double miles or 2% cash back on every purchase every day. what's in your wallet? [ crows ] now where's the snooze button? [ crows ] always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or me

and uk regulators to settle charges related to a huge trading debacle known as london whale.organ chase is acknowledging it violated banking rules by not properly overseeing its trading operations. london whale is the nickname for the man whose team was thought to be responsible for the failed bet that generated about $6 billion in losses. >>> what started as a boston homeless man's good deed is blossoming into an amazing reward. glenn james gained national fame after finding a backpack stuffed with thousands of dollars in cash and travelers checks and turning it into the police. an alabama man heard the story, decided to start an online fund which has now skyrocketed to more than $90,000. james says he's overwhelmed and just wanted to do the right thing. he did do the right thing. >>> up next, republican infighting and finger pointing as the country moves closer to a government shut-down. we have two republican congressmen here to discuss how far the party should go to try >>> but first, take a look at what's on this weekend's next list. >> this week, putting ideas to work.

against capital markets and economies bail ends bailouts and the bond pocalypse class crashes london whales and obamacare m.f. global jefferson county and cyprus manipulating metals librorum for ex them prior squids and tapeworms we've covered it all here on the kaiser report but aside from the bad and the ugly we've also covered the good so over gold and bitcoin the global insurrection against banks to rock your patient aka jumbo move your money and campaign will pay and the most interesting guest of all financial media mainstream or alternative and the best audience for sure that's you right stacy yes max and of course five hundred episodes of the kaiser report we have an audience out there including a looks like g c h q or n.s.a. they've been forced out of the dark by edward snowden and they're after only a little bit what so many. people do but at that time clearly here. there we go we started the show in november of two thousand and nine four years later we're at the five hundredth episode and you know i'm going to go over some of the topics the things that we've seen over these years

the punishment stems from the so called london whale trading lawl that cost the bank $6 billion lastit's one of the largest fines levied against a financial institution. i >> wal-mart is celebrating plans to open stores in the district.d they'll open two hiring is stores on monday. one located on 9002nd street ine northeast foret the h street ste and people who would like to work at the wal-mart coming to o georgia avenue can good to 7818 eastern avenue in northwest. both will be open monday through friday 9:00 a.m. to 5:00 p.m. officials hope to have bothh stores open by the end of year. d.c. mayor gray vetoed a living wage bill requiring wal-mart to pay a minimum of $12. 50 on hour. >> all right. google is bringing the beach to your fingertips now. >> remembering to remember one e mile at a time. a veteran is remembering p.o.w.s and service men who are missing. don't miss his own journey coming to an end today. >> first though we'll take a look look outside on this friday morning. trouble op the beltway. it's sky fox in college parkcoll where a tractor trailer has beee on fire. f l