i mean, you've been a marine, served in iraq, you've been a banker on wall street with merrill lynch.tracted you of all people to the occupy movement? >> well, i think what got the first time was simply because of having an understanding of what went wrong in the financial crisis, knowing that there was the steps that had been promised, the regulation that was supposed to come in so it never happened again never took place. the account bite i thought should have been there wasn't there. i went down for the purpose of arguing just that one point. i didn't believe in a lot of the other things that i saw on signs and didn't have a lot in common with a lot of the people down there but when i went down there, i started hearing and seeing other things and researching, finding that there was a lot wrong and these people had a real serious point. >> when you were working at merrill lynch or i don't want to single them out or on wall street, why not but when you were working on wall street, did you see some of the abuses that occupy is talking about? >> i mean, i didn't see i wouldn't say i sa

taking over both merrill lynch and country wide. now could regulators force a break up?here is a law that came bo b.in response to financial crisis giving feg laters that are too big to fail. >> the rest of us are not bailing you out ever again. >> the consumer advocacy group filed this petition asking the treasury secretary and federal reserve chairman to consider dismantling bank of america. >> the too big to fail banks have only gotten bigger and more dangerous, no more stable. >> mark calvi says b of a is holding on to some bad investments. >> merrill lynch viewed as a wild cowboy. and that we don't know what is sitting on banks. >> when filing in september, leeman brothers reported assets of $713 kbrinl, today, bank of america is the second largest bank with $2.3 trillion in assets. three times larger than the biggest bankruptcy, ever. but bank of america's ceo said we entered 2012 stronger after two years of simplifying and stream lining our company. no one knows what a possible break up of bank of america would look like. >> this could go to geographic separation

merrill lynch told john 70-64 70-64.land holds on look at this. the wizard of hanging around early.hn lucas? this is a young john lucas. scored 18 and the first half. they finished on a 19-6 run. chicago wednesday 78-74. in a couple of other scores. george washington be rhode island. navy lost to holy cross. american fell 71-60. look optimistically. march madness right around the corner. i want a baby. a baby? but we were gonna see the northern lights in alaska. and go spelunking with the guys. yeah, i said it-- spelunking. [ whirring ] and i still haven't built one of those fighting robots. come on. it's's pretty awesome. okay. just a few things we need to do first. [ laughs ] [ announcer ] before you make your leap, make a list. then get going in the completely redesigned cr-v. all new, from honda. ♪ sunny day ♪ i'm feelin', feelin' the taste i crave ♪ ♪ subway ♪ i'm makin' it, makin' it how i like ♪ ♪ it's meant to be ♪ i'm feelin' subway ♪ i'm feelin' subway today [ male announcer ] hey, capital area! are you feelin' subway®? then heat up your day with the big hot pastrami melt!

merrill lynch analyst asked you, but this cold point, you're moving along and what would be the idealt's say, the ideal timeframe of when we'll be able to export natural gas to when they're paying $16, eight times what they're paying here for. >> the way we're trying to set it up is we have a lot of interest in europe and asia for this gas. we have a facility there that imports the gas. we would reverse the flow, liquefy the gas and export it. wield never actually own the gas. we would provide that service for those who want to sell that gas overseas. we can take the super tankers, the panama canal's opening in 2014. we are very close to the marcellus and utica shales. if everything works out like we would like it to, it would be late 2016 or early '17. >> they're in the out years, right? i know that given your balance sheet and what you're able to do unlike the other companies trying to do it, you actually can get this thing going and make a ton of money for people. >> we can do well. if we do it right, we can do well. natural gas is so low. is there a time that you've got to go back

after my second story, i started getting offers from goldman sachs, merrill lynch. i said, i wanted to do work that was meaningful to me, so ended up working in the prison system at rikers island. i know all of that was in so many ways possible because of the work that you did. i just want to say that i honor you, respect, love everything that you have done, all the roads that you have paid to allow me to do the best things that i have done. [applause] >> 44 years apart these two stories happens. clearly, life is not the same. so i went to ask you, miss coleman, what has changed since your time? and, bryonn, after that, what has not changed? when you listen to this story 44 years later for what you sat down and fought for, what has changed? >> well, that is a difficult question. i have to say, depending on what part of the country you come from -- when i have visited and montgomery, people ask, what did they get out of the civil rights movement? one thing. the street that i lived on, instead of calling it east dixie drive, they called it claudia colvin drive. [appla

it violated the laws, because everyone of our big firms, whether goldman sachs or merrill lynch or j.pan, they are paying fines right now for what they did against the securities laws, and yet they remain in charge. they remain invited to the white house for the state dinners. that is why people are out in the streets across this country right now. the key slogan, we are the 99%, is rigorously accurate, because the top 1% has walked away with the prize, and people who you have seen on the tour, whose voice your bringing to america, they are suddenly realizing, wait a minute, this is not a market economy, just good luck and bad luck. these guys broke the rules. they broke the law. they took the money. they sided with politics, and they are still there. that is what people are starting to wake up to. >> i could do this for hours, but i will give you 90 seconds for the last word. what is the price of civilization? >> it is the investments we need to make an education, health care, in our neighborhoods, in the physical environment for safety and good health. we need to pay for that. especi

than a dozen of wall street's biggest bankers and brokers including david komansky, chairman of merrill lynch, sandy weill of travelers and sandy warner of jpmorgan. one by one the firms each agreed to kick in more than $250 million to bail out long-term capital before its troubles sent shockwaves through the banking system. >> why did the fed step in, organize all the wall street banks, and kind of sponsor this bailout? because all of the wall street banks that enabled long term capital to grow to this giant size, to have 100 to 1 leverage, by loaning them money. so when the treasury and the fed stepped in and bailed out, effectively, long term capital and their lenders, their enablers, it was another big sign that the rules of the game had changed and that institutions were becoming too big to fail. fast forward. we go through 1% interest rates at the fed in the early 2000s, we go through the housing bubble and collapse. >> following the 2008 economic meltdown came the mother of all bailouts. >> good morning. secretary paulson, chairman bernanke and chairman cox have briefed leaders on capi

then he tried to purge various members of congress and the senate one was a senator from merrill lynch and if you notice in the book it leaves the filibuster to defeat several proposals wants before congress adjourns in 1939 and he is delighted to do that because pcs fdr as an enemy. people were very suspicious the way he manipulated. >> and he was sick only working 20 hours per week working from 20 hours per day. the positions said it is stress so roosevelt was only working half time. it is hard to be effective when you only work have time. although walter george was the subject of a purge result tried to get a modern office which is one reason he was so hostile to world war ii. some of chairman of the senate finance committee opposing you but it is hard to say if he would have tried and if you think roosevelt cannot pull this off the get something then they end up being an ally when they can pull off. it is easier for senator george to do with truman they in a healthy roosevelt. >> and other political change there was the democratic primaries. >> his son democratic senator and if you

and the big concern with market makers is that you can step in, in front of, say, merrill lynch buyinga million shares of ibm, and buy your own. so that when merrill buys the million shares, the stock goes up a little bit and u make some money. >> people couldn't figure out any other way for him to make money except if he was front- running. >> smith: people ran those, sort of, models and couldn't make money doing it? >> they couldn't make anywhere near the kind of returns that he did. especially in... when markets were falling. but he consistently made money every year. almost every month. >> smith: in boston, a team of risk analysts was puzzled, wondering what madoff was up to. >> there's always that potential, that one little potential that you've got a rocket scientist, an einstein here. and he's found some piece of information that's flowing to him proprietarily, because of the nature of his business of executing big trades. >> smith: in the late '90s, casey was working with harry markopolos, the now-famous whistleblower. casey and markopolos first heard about madoff's returns fro

merrill lynch, jp morgan chase, goldman sachs. in 2005 he sued an insurance company called aig. remember when america sharpened our pitch forks and outrage to aig to give bonuses to executives for their performance in destroying wall street after they got bailed out by taxpayers to the tunes of billions. remember the scandal? remember aig's role in destroying wall street, remember that aig? before they were that aig, before they earned that part of their reputation, elliott spitzer sued the pre-financial meltdown aig. he brought charges in 2005 saying that aig and two other firms were telling customers that they were three separate companies. three separate companies that were competing for your business to give you the best deal when in reality the charges said the three companies were working together. they were colluding, working it out amongst themselves to divvy up the business for mutual gain. fake were in competition. the most memorable thing about that case against aig, is that aig at the time was run by this man, hank greenberg. the other two companies that were suppose

let's bring in kate moore of bank of america/merrill lynch global research.eed to shorten that up, kate. >> i know, it's a mouthful. >> hungary, what's going to happen with the country? they're sitting out there by themselves. looks to me like default could be inevitable. what's your thought? >> let's talk about from the equity perspective first off. the four best-performing markets in 2012 were the four worst-performing emerging markets in 2011. we're seeing a traditional reversal in january. hungary is an interesting case. we have a market where 40% of the market cap comes from financials. and that has been the absolute market leader, up about 30% year to date. >> their biggest bank had its biggest month in two years in january. i can't figure out why. >> i think no one was allocated towards banks globally or emerging market banks in particular. it was a place investors had shied away from in 2011 as they were really risk averse. now even after this rally in january, hungarian banks are still trading at less than one time book value. i think that's an impor

as far as the big move for the year, bank of america merrill lynch stays is the nasdaq 100 what it terms year of the megacaps. it thinks the growth is what is going to push this hire them see a breakout potentially levels around 3,000. right now, it is on track, the highest levels since 2001. led by apple today and in great part this year, but one of the stocks that b of a merrill likes is one of the big dogs of the dow, intel. although has been up it is a high yielding stock there you get a double exposure between the nasdaq 100 and the dog of the dow high yield. they say intel is one to watch this year. back to you guys at the nyc. >> thank you. didn't finish my thought from the last segment, talked about exxonmobil the second largest company in the world, market capsize who is number one? apple, okay? anyway, where were we? about 18 minutes left in today's session, the time for a quick market stat check on the nasdaq, on pace for the second down day in the last three sessions, right now, down a point of a third of a percent at 28. 70, down 30 points at the session low, look at the fea

do richard third and the bridge project for the last three years is because bank of america and merrill lynchyou are doing and they have supported us so not all bankers horrible. and what i want to be able to do is to make sure that the things that wput place that are not about artistic tastes but are about the work we do with young people,the work with emergi artist it is work we do in the community, that stuff i would like to have stay, i want to see that whittled away because it doesn't make money, but it will be time, there will be time where a theatre comes ere it needs new artistic blood, i am excited about somebody else will come in and choose the plays and the directors have when you decided do richard iii and it was right for you, the time was right for you and the theatre to do it, there was lawrence olivier. >> yes. >> that was mccullough len. >> anthony shino and do you go look and say i have got to do something different?i have to build on this? do you say i don't even want to see that because it will come right out of my brain. >> it is very funny because i was really nervous ab

but what is worth knowing here is bank of america, merrill lynch, that bank took a survey of fund managers a restrained mood when it came to buying equities, they are basically seeing that only 8% of the fund managers that recently were surveyed were overweight stocks by this time this year. back to you, jon. jon: not a lot of enthusiasm out there. a lot of questions about this market, won't you say? >> reporter: that's right, jon. the words would be restrained mood on wall street. by the way, 50-50 odds for the january effect actually working over the last decade, because we have bubbles bursting. the january effect does not work when you have big market events like war or an oil embargo, like happened in the early 70s or bubbles bursting in the market, the january effect doesn't follow. jon: you need what, it's generally the first five days of january or the first five days of trading in january that sort of determine this? >> reporter: that's right. that is what you track is the first five trading days in january. as a precursor for what the rest of the year could look like. we'll be wa

the -- banks understand -- look, i spent 15 years in a corporate law firm i would represented merrill lynchthen want it as broader release as they can get. if i was representing them i would, too. they want ad release from all their misconduct in return for settling claims this had to do with relatively narrow set of issues, robo signing, foreclosure abuse, it is good to have a servicing settlementment. i never objected to that. harder rules in the road going forward. you want principle reduction for homeowners and -- principal reduction for homeowners and a lot of good stuff in that settlement. i drew a hard line and said there is no way i'm going join if you give these guy as release from the other conduct that hasn't even been investigating yet or investigations are under way but haven't come to fruition. first rule of prosecution, you don't release claims that haven't been investigated. so -- i -- drew a line on that. it was than about me winning. sure. there was an incredible public outcry from activist groups like moveon and coalition of housing activists, civil rights groups, who --