morgan absolutely. stacey newman thanks so much maybe on the kaiser report thinking about it don't go away stay right there in the second half i'll be talking to nick verbinski directed a film that could just help take down the biggest divide and conquer of them all. more news today violence was once again flared up. these are the images. from the streets of canada. showing corporations rule the day. even in the autumn of the years. it's never too late to start a. triage tree bearing life. been shit. or become a part. welcome back to the kaiser report imax keyser time now to go to new york and speak with nick for a bit skate he's the director of confidence game welcome because reporter nick. thanks max appreciate you being you having me on here no problem so some confidence game more or less the investigation that led to new york attorney general eric schneiderman recent lawsuit against j.p. morgan so take us back to march of two thousand and eight tells how bear stearns collapsed how j.p. morgan came t

morgan absolutely. stacey newman thanks so much ming on the kaiser for thinking about it don't go away stay right there in the second half i'll be talking to nick skate it directed a film that could just help take down the biggest divide and conquer of them all. even in the autumn of the years. it's never too late to start. try extreme paragliding. been shit. or become a part. sigrid lumbered sure to mccurry was able to build most sophisticated robots which will unfortunately doesn't give adorn about anything to. mission to teach creation why you should care about humans and we're going this is why you should care only on the dog. i. gave. each. welcome back to the kaiser report imax guys are time now to go to new york and speak with nick verbinski he's the director of confidence game while going to cause a report next. thanks max appreciate you being you having me on here no problem so some confidence game triggered more or less the investigation that led to new york attorney general eric schneiderman

morgan absolutely. stacey newman thanks so much for being on the kaiser report thinking about it don't go away stay right there in the second half of it talking to nick verbinski directed a film that could just help take down the biggest divide and conquer of them all. even in the years. never too late to start. trying to treat paragliding. when a bar lifting championship. or become a part of his. own. it are sometimes you see a story and it seems so for lengthly you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you thought you knew you don't know i'm trying hard welcome to the big picture. would be soo much brighter than if you knew about someone from funniest impressions . from stunts on t.v. don't come. three. three. three. three. three. three. three. technology innovation. developments. we. welcome back to. new york and speak with nick. he's the director of confidence game welcome the cause report. thanks max appreciate you

morgan absolutely. stacey newman thanks so much make of the guys report thinking about don't go away stay right there in the second half i'll be talking to nick verbinski directed a film that could just help take down the biggest divide and conquer of them all. even in the years. is never too late to start. trying to treat paragliding. when a bar in the championship. or become a pop star. on. it. is. going to be so much brighter. about someone from months to impression. from stunts on t.v. dot com. i mean it's. so the only city in europe the host of the twenty fourteen winter olympics. sudsy. think. tsotsi. think of some of the. dog days of. the fridays it eliminates common. sudsy it's so true. welcome back to the kaiser report imax keyser time now to go to new york and speak with nick verbinski he's the director of confidence game welcome the guys reporter nick. thanks max appreciate you being you having me on here no problem so nick your film confidence game more or less the investigation that led to

morgan absolutely. stacey newman thanks so much for being on the kaiser report thinking about it don't go away stay right there in the second half of talking to nick verbinski directed a film that could just help take down the biggest divide and conquer of them all. even in the years. is never too late to start. trying to treat paragliding. when a bar in the championship. or become a part of his. own. more news today violence is once again flared up. and these are the images the world has been seeing from the streets of canada. trying to corporations are all day. yes. download the official application. choose your language stream quality and enjoy your favorite. t.v. is not required to watch on t.v. all you need is your mobile device to watch are seeing any time. welcome back to the kaiser report imax keyser time now to go to new york and speak with nick verbinski he's the director of confidence game welcome the guys reporter nick. thanks max appreciate you being you having me on here no problem so nick

morgan handouts because j.p. morgan is in charge of dispensing with the food stamps that many wal-mart employees have to live on that's right a lot of people don't know that j.p. morgan you know talking about slaves and plantation days they live in the big house that's jamie diamond in the big house he gives out the food stamps going down a wal-mart the process is different stamps are his shareholders that are continually getting diluted to pay for the bonuses they're going to screw them up so we've just covered the fact that here in the u.k. they're saying workers of the world unite by giving up your rights in europe we see europeans unite more and give up your sovereignty here's the headline max i.m.f. sees european banks facing four point five trillion dollar selloff yes the i.m.f. said european banks maybe need to sell as much as four point five trillion in assets through twenty thirteen if policymakers fall short of pledges to stem the fiscal crisis up eighteen percent from its april estimate so they're sayi

morgan the people are suffering. so we covered that last year the carl levin of the senate he was famously the famous senate hearing where they kept on having to bleep it out because it was a deal from goldman sachs that they sold to investors to remember that evidence was passed to the department of justice probably lanny breuer and he decided there was no case so if you think there's going to be any sort of case here with the same exact language the same exact apparently sat that was collateralized many times over and sold to all sorts of people but the other thing was because these mortgage bonds had just gone bust so fast all the mortgages underlying the mortgage securities they went bust so fast originators of those loans were supposed to buy them back and bear stearns was supposed to get that money from them and then give it to the investors but what bear stearns did is they did go to the mortgage originators but they gave them a sort of sweetheart deal they negotiated a lower price a lower fee took the money a

morgan well they say that it was j.p. morgan itself that basically forced them to go bankrupt by refusing to pay out on the fraudulent bonds that they that had gone bust they should have all you want second thing is this idea that morgan can claim that their responsibility is limited due to the fact that this was all done over a barrel. turns but remember the reason why you have the global financial crisis in two thousand and seven two thousand and eight was the too big to fail concept banks were getting too big so what it congress allowed to happen as a result of that they allowed the banks to get even bigger so now j.p. morgan bought several banks including bear stearns and they're bigger than ever which means our political leverage is greater than ever which means our culpability factor goes down to the lowest level it's ever been and this is of course wall precipitate more bank failures which will then mean that j.p. morgan will buy another bank and become even bigger so robert peston of the b.b.c. covered this in j.p

pierpont morgan was the greatest financier of his age. he also was determined to become its greatest collector. in the year that morgan formed united states steel, the world's first billion- dollar corporation, he achieved a goal equally great in the field of art. for an unprecedented sum, he acquired raphael's famous colonna altarpiece. like other wealthy americans of his time, morgan sought the company of the european aristocracy. he was part of the cultural movement known as the american renaissance, which saw the united states as the heir of the european past. adjacent to his house in new york, morgan built a library as a monument to his taste. the decoraon inside the library was inspired by raphael and other italian masters. morgan's library contained his collection of rare books and manuscpts, as well as renaissance paintings and sculpture. like isabella gardner, morgan identified with a renaissance predecessor, the great baer agostino chigi. morgan even installed in his study a brocade wall-covering with chigi's coat-of-arms. morga

financials getting floored despite earnings from jp morgan and wells fargo. as we head into the busiest weeks should you bank on more trouble. there is a price action on jp morgan and wells fargo does it bode poorly? >> absolutely. here is one thing about it. somebody robs a convenience store they peel out. they are peeling out of financials right now. stock went from 7 to 9.5 in about two months. bank of america, jp morgan and financials where we have seen nothing but bullish call buying trying to get the long bet on financials. it was a mixed bag. we started seeing increasing amounts of bearish bets people letting go of the equity. i look at this and i think people have had their winners. low revenue down. we had markets down much more. as for jp morgan everything without any sort of distinction between them. >> we have talked about this on the show before. a lot of times jp morgan because it is considered best of breed and we had jamie dimon strutting himself in washington. this guy looks like he has amazing control. don't forget there were some self infli

morgan stanley closer to 185. morgan stanley has a longer way to go. can they beat their cost of capital. morgan stanley they are starting a half a mile behind goldman in terms of the initiative. the other issue is the retail business. they have been so delayed in terms of getting there is skepticism in the market place. so citi and morgan stanley both generating above expectation returns in fixed income. and then you have people getting enthusiast enthusiastic. this stock is trading at a real discount. so any improvement and you will start seeing that discount narrowing for morgan stanley. certainly the value guys love this. >> kind of what we have been dancing around is not only is it investor appetite and the ability of people to see bigger trading days. the bank itself. we haven't talked about some of the adjustments in pushing out. do you think their philosophy will change in terms of their return on capital? will they be more aggressive? that is not a good thing to talk about. what do you think? >> they are talking about it but not directly. they

where do they come off suing jp morgan? >> if you want to go after the dumb trades go after the individuals in bear sterns? why sue the whole individuals of bear morgan? >> it is going to go well beyond what is happening right now. obama doesn't care. i think he is coming out looking very bad, larry. >> i want to get a quick take before we bring the members in here. to me, this guy is a cheap shot artist. he may be representing obama you wants a cheap shot to go after the banks and where are the kudos for jp morgan that did this and put this together at a time when everything was unravel elling. >> the federal government was under pressure for the euro europeons. andrew cuomo preceded snyder man and declined to use the act. this is the same evidence that he looked over and said i'm not going ahead with this and there are cases and -- let me get this straight. he decided the evidence wasn't there. snyder man looked at it and he is playing cheap politics. >> that is your opinion. >> he has become a good governor of new york a

morgan bear stearns e-mail refers to bonds sack of s. astra astra caster ect. but the bank kept forcing them on investors says lawsuit so these are the mortgage backed securities that bear stearns now owned by j.p. morgan packaged into but this into securities and sold on to pension funds around the world they refer to one of them of course as a bleep breather i'm not going to be surprised when j.p. morgan and jamie dunn announce it's going to take this and the reseller public as an animal reseller i.p.o. value them at a billion dollars and then turn that into a collateralized animal reselling plot of life debt obligations on the shelf or some german bank then will explode and then i don't pose austerity to the greeks are going to end up paying for the use out of a bag once again. well ronald eugene robinson is the name of this thirty four year old who is convicted he faces up to ten years in prison and a two hundred fifty thousand dollars fine so for packaging up his used anima and reselling it to unsuspecting customers he gets ten years and two hundred fifty

morgan are back in the spotlight. a top federal reserve policymaker is calling on congress to cap the size of big banks. those comments yesterday by dan tarullo, the fed's point man on banking regulation, is being debated from wall street to washington. joining us, a man who worked in the u.s. treasury on banking reform. morgan ricks is now assistant professor of law at vanderbilt university. more-- morgan w what do you think here, should the government cap the size of big bank, this is turning out to be a very controversial topic, once again. >> yes, it is. and dan tarullo is one of the best thinkers we have on these issues. so when he speaks we should all listen carefully. on this question, though, i would respectfully take a slightly different view. and one way of thinking about this is during the financial crisis in late 2008, when lehman brothers failed we all remember it almost brought down the whole financial system. lehman brothers was a fairly small firm. at least compared to the giant financial firms we have

tracy morgan. [ cheers and applause ] doing that because i probably owe them money. >> and sharon jones and the dap kings. all new "jimmy kimmel >> hi, i'm guillermo and we're on our way to the sturgis bike rally, and first to pay for our trip -- move it, snake. >> hate to break it to you, but the bike rally was was in august. >> you told me it was now. >> no -- >> sorry, boss. >> don't worry, "pawn stars" devoting a whole episode to our time at sturgis. >> check it out, like you're at the rally. >> guillermo: can i sell you this very, very valuable item. j bring them in, we'll check them out. >> guillermo: a bunch of stuff from my boss, jimmy kimmel. he's famous. i got his trophy, his clarinet, make beautiful music. toothbrush. his pillow. and six pounds of bacon. >> how do i know it's his? >> guillermo: it is his, i got his license, driver license. jimmy kimmel. and his shoes, too. >> how much you want? >> guillermo: $2,000. >> $250. >> guillermo: sold. you drive a hard bargain. let's do paperwor

morgan ok keep in mind j.p. morgan is the custodian for a lot of the customer money clearing and certainly major for a lot of m.f. global's trades most of their trades and they are its biggest lender and they know one point two billion dollars revolving credit facility so j.p. morgan knows a lot about what's going on in a global so on this day of the twenty eighth they ask them of global for a comfort letter which is asking them of global to put it in writing that no customer funds were. part of that wire transfer should meet that margin call and they never got the letter writing that letter so j.p. morgan said another letter with water now language and if golan signed that letter either they sent a third letter m.f. global and signed that love letter either so that j.p. morgan has reason to believe that this customer money being wired wired over m.f. global wouldn't put it in writing that it wasn't customer bonnie and yet at the same time that their wiring the customer money that they knew was customer money ou

morgan calls and part of the reason i'm sure j.p. morgan calls is because of their commodities department. as well why their commodities department what are your concerns specifically. the head of the department doesn't know as much as some people know about commodities and sometimes that person i won't say whether some male or female gets overextended and makes mistakes and i suspect you're going to find more mistakes coming out of the j.p. morgan commodities department so i am short the calls but there are many reasons to be short j.p. morgan called me reason to be short lots of things i'm sure lots of stocks around the world short india short a lot of things it's not just j.p. morgan i'm sure that's not part of them poor j.p. morgan ok fine but what about their silver position does that worry you at all or there have been many concerns in the blogosphere about what they're doing with silver i know i see all that stuff i don't have a clue i don't know what the situation is morgan says that they don't have any naked positions in in

but i'll say, "no, morgan stanley." [ticking] >> this is shaybah, a desert wilderness where temperatures can reach 135 degrees. beneath these sand dunes lie 18 billion barrels of oil, more than four times the proven reserves of alaska. and it's costing billions and billions to tap into it. with all the talk about kicking our addiction to foreign oil, the kingdom of saudi arabia is doing everything it can to keep the oil age going. let me be blunt: is it your hope to prevent a switch away from oil? somebody said the country is the oil business. i mean, you absolutely need to do this for your own survival. >> and what's wrong with that? [ticking] >> when the u.s. oil companies came here in the '40s and '50s, the americans moved into the area with their families and developed it to suit their tastes and their way of life. they created a replica of american suburbia. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the count

morgan i'm sure that's not top of them poor j.p. morgan ok fine but what about their silver position does that worry you at all or there have been many concerns in the blogosphere about what they're doing with silver i know i see all that stuff i don't have a clue i don't know what the situation is morgan says that they don't have any naked positions in silver i have no way of knowing ok but i know that's a huge discussion in the internet ok and then in addition you said you're short other things like india what about asia because yes our viewers are familiar with your story everyone asks you about china so i'm not even going to do that i want to ask about some other asian countries maybe other developing countries smaller countries are there any that you're excited about any other growth stories props and market all of my money in the media and more i would i can't tell you how excited i am about me and my own fortune the stock market is that big and very few ways to invest there for me is a stock market investor but it is so excit

pierpont morgan was the greatest financier of his age. he also was determined to become its greatest collector. in the year that morgan formed united states steel, the world's first billion- dollar corporation, he achieved a goal equally great in the field of art. for an unprecedented sum, he acquired raphael's famous colonna altarpiece. like other wealthy americans of his time, morgan sought the company of the european aristocracy. he was part of the cultural movement known as the american renaissance, which saw the united states as the heir of the european past. adjacent to his house in new york, morgan built a library as a monument to his taste. the decoraon inside the library was inspired by raphael and other italian masters. morgan's library contained his collection of rare books and manuscripts, as well as renaissance paintings and sculpture. like isabella gardner, morg identified with a renaissance predecessor, the great banker agostino chigi. morgan even installed in his study brocade wall-covering with chigi's coat-of-arms. morga

morgan chase and bank of america from j.p. morgan they read we are canceling the remaining amount you owe chase bank of america letter reads you are proof for a full principal forgiveness of your home equity loan the catch well most of these debts have already been discharged in bankruptcy court oh that's right it's a legal arbitrage now we know that we have the financial leverage charger they're trying to buy and sell simultaneously and capture the spread for their pockets and then when it goes bust and you know some of those dirty and then they're still part of the bonus and they have legal arbitrage take the law reversed it makes it put in a blender can constitute it it's like a bad pasty it's kind of sticks in your craw like this like something out of cornwall that washed up on the beach i just want to spit it out that's what jamie diamond all about so a lawyer for five of these clients who have received these letters neal crane he's a lawyer in hamden connecticut he said i never thought in my wildest dreams that the banks

morgan, and i'm using this $40 level as a pivot point level.m going to look to see where the futures are. j.p. morgan will sell off with the futures this week. we got kind of dicey last week. the market didn't really have that much conviction. it could be end-of-the-quarter markups, markdowns, buying certain stocks, selling other stocks. i'm going to watch it this week. if it stays above this $40 level, i'm going to buy back into it, looking for it to break to that $42 level, possibly up to $45, and i'll have a stop right under the $40 level. > > this was a classic lesson that you had to buy this stock when there was so much negative news, such as that $2-billion- plus loss that jpm had. > > yeah, the news is always worse than everybody anticipated. we see a lot of these good companies, and the bp oil spill was another one. it did sell off, and it kept selling off, selling off, selling off. but at some point it did get bit. so if we see a chart that is trending down down down, lower lower highs, i'm not looking to jump in. but once i see it con

morgan went for two with two minutes remaining, a gutsy call on the road that backfired. it is a ravens' game day. we will have all that broken down for you at 6:00 and ravens wrap-up after "sunday night football." >> baltimore is pulling out all the stops to fight homelessness. city officials put together an event geared towards educating people about homelessness in city and mobilizing them to do something about it. guests were guided through an imaginary street where they

morgan adsit... yankee staddum wweree the oos will play tomorrow night.who manager buck showalter credits for his team's success. it's heavy lifting. you start with a democratic senator named ben. by getting bwi-marshall funding for new runways, he's helping us serve 21 million passengers a year, which helps keep 100,000 jobs that depend on the airport, and that means more cargo for more businesses and more skycaps unloading more taxis... welcome to bwi. ...carrying families with more luggage. thanks. it's like he's out here with us. he's my friend, ben. i hope he's your friend, too. i'm ben cardin, and i approve this message. a night o catch your breath, yankees are now in new york, their diviiionseries tied at a game apiece...there is &pelectrcity in the bronx this evening, and that'sswherewe fiid our morgan adsit.,.. adsit.,.. 3 sot rollcue..."out of the bullpen" (adlib toss) we'll hhve more from morgan in phe bronx, we'lllhear from the ravens andour prep player of the week..coming up tonight at u

morgan is translation and there's a big mystery out there stacey you know the fed keep frantic money why do we see the inflation we don't see the inflation paul krugman of the new york times say i don't see inflation also about inflation it's not translation which is working beautifully it's about putting money into the pockets of the top one tenth of one percent the inflationary debt spiral is coming that is the next chapter the bond market is on the cusp of collapse the sovereign bond market particularly here in the u.k. find me guilty market the british job and bond market is on the credit precipice ready to crack we're going to be what it's doing it right there u.k. by market crash because i cared only what. so it's translation meaning we're all trannies now well you know especially down here in old compass trade in there so you'll find a lot of trannies and marco. so again you know fed actions to reduce mortgage rates may be helping banks more than borrowers so they reported record profit bottom to the bottom line max and according to the story those bottom lines have been padde

s no one cared to give this guy joe that you'd be morgan being a physical model repackage or i mean he would be excellent at it and he could sell repackaged nickel not a collateralized debt obligation as much of the mortgage but to unsuspecting banks around europe and around the world and therefore he is a genius the facebook i.p.o. went totally down into the toilet this would be a way to you know get people's money back used to repackage collateralized. securities so here's a mug shot of ronald eugene robinson and if you pull back this is what we can only imagine as done by william bond's i seven is jamie diamond also under arrest for selling c.d.o. it's uncanny jamie finally found a place in the world. so you know jamie dimon has been all over the press in the last week bragging about his earnings record profits based on the fifty seven percent increase in mortgages and mortgage origination so the headline reads said actions to reduce mortgage rates may be helping banks more than borrowers max was this totally unsuspected. now member the whole plan of the central banks is to you know

morgan. certainly they've recovered all that loss post the whale trade, so the stock, and banks generally, i think, kind of feeling the benefit of what the fed is doing as they're able to in essence layoff some of their mortgage rate back to the fed and take it off their balance sheets. so, we'll see what kind of reserves they need to bring forward to kind of meet their number. that's kind of the key to the bank earnings reports both on j.p. and on walls fargo as well. > > is wells a buy here? > > wells has been the relative out-performer. it really didn't suffer too badly. the news we saw a couple days ago i think will provide a little bit more caution here. on a comparative basis, i kind of like j.p. on valuation and also on earnings verses wells going forward from here. > > there's lots of buzz on sprint. it could actually have a deal in the works here. is this stock a buy or something you would stay away from? it certainly looks like more of a trade at this point. > > absolutely. sprint c

morgan stanley, pretty good.nd of all over the map. >> jim, i don't know how you do it. i see you tweeting, answering questions about ms even as you're on the air. >> there's several mes here. the guy over there, he's got the regular. >> we knew that already. >> right, there's several of me. i want to agree with what david is saying. there's a good quarter at morgan stanley. also, remember, if citigroup got taken, or pantsed, as we say in our factory, i would believe that morgan stanley is the beneficiary of smith barney. it's the model. i remember when you thought these guys could blow away the numbers, just by flipping the switch, but it looks like the government turned the switch off. >> don't you think the government would be pleased by that? this is what they intended. >> oh, yeah, the government is thrilled, which means there's much less risk. these companies -- when lehman blew up, david, what was the ratio when lehman blew up versus what they are leverage ratio w 30, close to 40. >> fannie and freddie was

morgan's library. i want to take us right away, actually, into mr. morgan's reading room, which is the room with the majority of the books, the majority of his 15,000 books. >> these students are part of an educational program run by the library. >> get close enough that you can see the handwritten text, and that you can see the hand-painted paintings that we were talking about. >> to illuminate manuscripts, the monks used many colors. but the most prized was gold. real gold. called gold leaf, it's even thinner than a leaf from a tree. >> you would have enough gold from that plum-sized nugget of gold to cover the floor of an entire tennis court. cool, right? that's how thin that gold is. >> while these students are getting their first look at illuminated manuscripts, these students are learning how they were made. >> basically, it's my first initial, and we got to design around our first initial. >> what you do is you blow your hot air onto the glue dots, and then you take the gold and you press it on. >> and then you get to use real gold and stick i