moynihan for his testimony. >> morning. chairman mccaul, ranking member keating, on behalf of secretary napolitano and director morton, thank you for the opportunity to discuss the ways in which i.c.e. uphads dhs standards for integrity and professionalism. the overwhelming majority of i.c.e. employees demonstrate the highest levels of integrity, perform their duties with honor every day. . however, as in any large organization, isolated acts of employee misconduct do occur from time to time. my testimony today focuses on the mechanisms that are in place to ensure robust process for investigating allegations of employee misconduct and insuring the integrity of the i.c.e. mission. since the creation of dhs, the i.c.e. office of professional responsibility has been delegated the authority to investigate allegations of criminal and administrative misconduct committed by i.c.e. and cbp employees. although we refer allegations to the dhs office of the inspector general for review and potential acceptance, many are referred back

moynihan respond to this. from physical year 2010 to the present, i.c.e. opr has received a total of 26,983 allegations of employee misconduct. some involved corruption. while others did not. in any event, this number is extremely high. in addition to investigating these matters, i want to know does i.c.e. opr work with i.c.e. at large and cbp to encorporate lessons learned from these investigations into new standards and procedures and given what you just stated, mr. edwards, having to deal with the budgetary constraints, you know, how does this actually work out when i.c.e. seems to have a whole host of their own investigations to conduct? i mean, i think if you add up all of the allegations together, i don't even know how personnel is able to manage. but that's for you to answer. >> yes, ma'am. thank you for your question. even for oig, the complaints we received in fi 12 so far has been 10,438. nonetheless, i think even before this investigation, this is -- there needs to be an all the components are doing is the proactive effort in terms of the prescr

brian moynihan. >> reporter: there were a handful of arrests at bank of america's annual meeting and demonstrators marching in protest of its business practices, but the bank didn't have a shareholder revolt like rival citigroup. last month, citi shareholders gave a thumbs down to that bank's executive pay plan. these shareholder "say on pay" votes are required under the wall street reform law, but the votes are non-binding. the compensation for bank of america boss moynihan last year totaled almost $7 million-- just under $1 million in salary and $6 million in restricted stock-- but he received no cash bonus. that was the plan shareholders agreed with today. just last week, the c.e.o. of sprint agreed to cut his compensation by $3.25 million. dan hesse took the action after shareholders complained his pay formula did not take into consideration the big cost to sprint for buying iphones. apple charges sprint full price for its phones, which sprint then offers to customers at a discount, squeezing its margins. and the pressure continues to mount on yahoo c.e.o. scott thompson over his

moynihan? >> ma'am,ivity just going to say that every case stands on its own merits and you know, just the receipt of an allegation depending on the egregriousness or as evidence is developed we work closely whether it's i.c.e. management or cbp management to make a decision whether that eventual nermt of leaving that person in that particular position, the vulnerability is too great. we may need to put them on administrative duties while the investigation continues, r reassign them or depending on level of evidence and seriousness or the level and position of that individual, they may be put on administrative leave. but that would be each case would stand on its own and the facts and circumstances of that would help us base that decision. >> if you just indull me for a moment, mr. chairman. mr. winkowski, i think that you looked as though you may have had something to add. >> i'd just like to add a couple issues here. a couple of thoughts. i think you know, it's develop very important that the

moynihan had indicated. cases are being transferred from the ig over to i.c.e., and cbp is part of that process. so i think we've come a long way since former commissioner burson's testimony. >> just a couple of questions, too, that came to mind. if it's possible to give us a generalization, the bulk of the people that have been involved in this corruption, unethical conduct, what's their salary range? i know, you know, i just want to give a generalization. how much are these people getting paid, most of them that are committing these things? >> i would say in the average a base salary when you look at a border patrol agent or a cbp officer at the gs-12 level which i think is about $75,000 a year. and then there's overtime associated with that. >> pretty good. >> especially when you look at the southwest border, there are some of the highest paying individuals down there in some of those communities. >> a question for mr. edwards. your office has primary authority over the investigation instances of public c

brian moynihan they said yes on a seven million dollar pay package why they did that i don't know but i guess that puts a damper on what some thought might become a trend here citi group shareholders voted no on their c.e.o.'s compensation just a few weeks ago. but aside from that what happened was that most shareholder resolutions did not pass that includes the resolution that we discussed yesterday to bar the bank from using their treasury funds to donate to political causes all management proposals however they did pass and once again you have to talk about the structure the fact that even shareholders don't really have a say when their decisions are non binding just like the vote on pay in part thanks to dr frank as some shareholders were in fact not even let inside the meeting but there is plenty of anger from those who did get on the inside many shareholders who represent advocacy groups grilled bank of america on their foreclosure practices one asked what it would take for bank of america to start abiding by the law and treating their customers fairly but c.e.o. brian moynihan

. >>> the roger clemens trial began today and gene moynihan testified about the former -- former piper's relationship with the strength coach and saying he once wrote to clemons and maintains complete confidence and respect for him. he testified he injected him with steroids. clemmens is accused of lying to congress. >>> and on to virginia, a ti81 do instructor is accused of inappropriate sexual contact with minors. the 38-year-old met his two victims while working at the fon university arts student. he's accused of having sexual contact with a boy in 2003-2005 and an underage girl in 2008. >> a d.c. man is being questioned by police. and the nurse claims that svetlana originally said her husband did it and later recanted. go agoen time went on the today show to clear his name and place blame on metropolitan police. >> and they have seemed accurately disinterested with anything showing that i was out of up to. the receipts are one example. >> and he was told he could not visit his wife and is allowed back in the hospital and feels like a person of interest in the case. the police have no

moynihan said. once an indictment takes place in the person is put on indefinite suspension ended this way through the court systems, right now we have 11 people on indefinite suspension. to the other point of your question, ma'am, i think there's a good point here. we have the investigation there is a conviction. what do we do next. there are office of internal affairs, we dissect that. we look at where the vulnerabilities are, what we need to do from the standpoint of changing policies are changing processes. so our management controls and internal controls so it doesn't happen again. it's a constant layer effect that we implemented that we think is very important from the standpoint of the very subject. >> can we associate with the ranking member's remarks in terms of seriousness of these charges and indictments and convictions, federal law enforcement, bribes taken to improperly screened luggage. first of all, stealing personal belongings as people go through the screeners all the time and scann

moynihan said. once an indictment takes place in the person is put on indefinite suspension ended this way through the court systems right now we have 11 people on indefinite suspension. to the other point of your question ma'am, i think there's a good point here. we have the investigation there is a conviction. what do we do next. there are office of internal affairs, we dissect that. we look at where the vulnerabilities are, what we need to do from the standpoint of changing policies are changing processes. so our management controls and internal controls so it doesn't happen again. it's a constant layer effect that we implemented that we think is very important from the standpoint of the very subject. >> can we associate with the ranking member's remarks in terms of seriousness of these charges and indictments and convictions, federal law enforcement bribes taken to improperly screened luggage. first of all, stealing personal belongings as people go through the screeners all the time and scanners

one shareholder described himself as a former merrill lynch employee told moynihan "we were hoping forith strength who knew when to be contrite, instead, we got you." here's the best part, all votes went in favor of management including 92% approval on the executive pay package. boy, they're yelling, but they're not voting. >> yeah. they talk the talk, but not walking the walk. >> and he's walking out a ceo. he survived. and management basically has what they had before. >> his name is brian. >> hard to keep track of. >> brian, thanks. sue. >> gentlemen, chesapeake energy getting into new trouble. now it's the use of its private jets being called into question. "the wall street journal" says the shareholder of the embattled natural gas giant says chesapeake is misleading investors accusing the company of understating the cost of personal jet travel given to top executives and also to outside directors. the paper says it could be by as much as $10 million a year. according to the faa, the company owns fractional shares in more than 20 different jets including a high end gulf stream. ty.

he and moynihan together are alarmed at what happened to lyndon johnson, toppled by the radcliffe girls. so an idea that milton friedman said close to what i have in mind passes the house but it dies in the senate. and from two sides, ronald reagan i discovered quite by surprise ferociously opposed it and lobbied heavily against it and secondly the left was again it. >> want enough. >> wasn't enough, right. i've got some quotes in one of my books that gene mccarthy is saying you can't even discuss this thing. then you get to the mcgovern years and it's legendary. and it turns out mcgovern really wasn't a mcgovernite. we know this. we've been empowered by interest groups, you point out the rise of the direct primary has empowered -- has sort of led to extremism on both sides. if you had the old smoke-filled rooms that we want to get rid of because of reform, you could preserve more of the breadth in the party. >> that's well put. >> and that's a big problem. but, yeah, you put your finger on the right thing. that's a key dividing line is nixon was not what -- nixon told buckley in '67, h

moynihan took a $3 million pay cut.ear before, but one analyst says moynihan actually ranks as one of the worst big bank ceos because you look at how bank of america's stock performance has been, shares are down more than 40% under his leadership, and this is even after the recession, but to be fair, other ceos, they're having a hard time, too, in the face of tougher regulation, lots of problems in the mortgage market. many people don't shed any tears over that situation, suzanne. >> millions of dollars there that those guys make. and we're looking at the stock market here, alison. triple digit loss again. >> it looks like it could be day six down for stocks. investors, suzanne, they're nervous about this political situation that continues to brew in greece. greece right now still trying to form its new government. there are lots of questions as to when that new government is in place. will it throw that entire bailout agreement -- will it be thrown out? it throws it into question. will it be renegotiated. a lot of unce

moynihan?> i was just going to say that every case stands on its own merits and adjust the receipt of an allegation depending on the rise of evidence developed we work closely with other it is i.c.e. management or cbp to make a decision whether that vulnerability is leaving that person in that particular position and vulnerabilities great we may need to put them on the administrative duty while the investigation continues and a reassign them or depending on the level of evidence and seriousness or the level of the position of that individual they may be put on administrative leave or things that each case would stand on its own in the facts and circumstances of that would help us face that decision. >> could you just indulge me for a moment mr. sherman? i think that you look as though you may have had something -- >> i just have a couple of issues here. a couple fox. it's very important in that these allegations be worked quickly so we have a responsibility to exonerate people as well, and i th

their friends money for free and their friends like jamie diamond and lloyd blankfein and brian moynihan pretend that they have an inherent better working ethic and they are better workers and they're better innovators and better creators than all of those unemployed people out there on those welfare rolls those ninety nine percent on the disability benefits well yes this is the arc of history stacey the last two hundred years or so when that was different than medieval aristocracy and monarchy was the exception to the historic norm we are reverting back to situations where david cameron and his click of insiders can print money or steal money as the doing of states or trade on inside information. market manipulation and they call that productivity they make outlandish bets when they lose they steal from the bottom ninety nine point nine percent and call that a sturdy that's the model we're living in now we're going to go into the summer olympics olympics we're going to they should really make it the front olympics and david cameron should be in the pole vaulting event where he's pole va

he's alarmed, he and moynihan together, alarmed what happened to lyndon johnson. toppled by a mob of radcliffe girls. his phrase. and buckley for reasons of stability and what you just brought up. guaranteed income. friedman said close to what i have in mind. passes the house but dies in the senate and from two sides, ronald reagan, i discovered and quite by surprise, ferociously opposed it and lobbied heavily against it in ways that surprised me in how thick the file was and secondly, the left was against it. i've talked to somebody who -- it wasn't enough. right. and quotes in one of my books, gene in karn gene mccarthy, can't discuss this. people say today reagan was not really a reaganite. turns out not a mr. clinton goveclinton -- was no a mcgovernite. and most liberals republicans followed. jeff, you point out the rise of the direct primary has empowered -- sort of led to the sort of extremism in both sides. guess what? if you have the old smoke-filled rooms want to get rid of because of reform you could actually reserve the breadth in party and other parts

as my friend senator moynihan used to say, our friend, senator, then senator clinton and senator warner who is here, famous phrase, everyone is entitled to his own opinion. but not to his own facts. there are facts with respect to this treaty, and i look forward to this committee establishing what they are. ultimately, this issue needs to be decided by the members of the committee asking tough questions of the witnesses. and not by the outside groups. so i'm pleased that we're going to having an opportunity over the next several weeks, next couple of months to hear from multiple buttons and we begin today with our top national security leaders. they will be followed by military commanders, including those ho are in charge of our operations by top business leaders, the chamber of commerce it, others, by treaty experts and by opponents. once again, i simply ask that everybody work hard to find out what is factual and what the realties are with respect to how this works. and so with that, i would like to welcome today's distinguished witnesses. as secretary of state, hillary clinton has wo

true liberals like hubert humphrey, ed koch and pat moynihan or their intellectual components are dead or in retirement. their liberal bigger has not bet replenish. we have lived through the death of liberalism and it is time we had knowledge as much. liberalism is dead. americans today can be forgiven. there was no national announcement but the end of an era. with npr or "the new york times" or if there were few americans to follow the organs, of there was no read being at the graveside. there was no graveside. from my car i did filed the obituary december 42010 now have elaborated on occasion the death of liberalism. perhaps i should stop by the roosevelt memorial to leave flowers of the feet of fdr. at least he saved the world and made us well martini. but now it is time to solve ashley occasion. "the death of liberalism." seven years ago 2009 before a conservative is them enjoyed the mightiest victory in modern times times, santana house said -- set to liberal hearts aflutter titled the death of conservatism. some of you read it. not unlike my book but it was complete the totally t

brian moynihan and i he didn't bother subjecting himself to the anger for too long he wrapped up the meeting after only a little more than two hours even though a lot of shareholders didn't get to air their grievances but the point is that people are angry they realize that these banks aren't being held accountable to the people that's the part that's actually extraordinary about all of this that it's the big banks got bailed out that engaged in foreclosure fraud and engage in predatory payday lending than fight any regulation and still have not been held accountable for their role in bringing down the world economy there's nothing extraordinary about people being angry and using their constitutional rights to come out and protest and make their voices heard but obviously the city manager of charlotte didn't feel the same way and obviously the mainstream media doesn't feel the same way because they just look at this as just another protest without really getting into the grievances that these people have these shareholders actually have grievances that make a lot of sense and deserve

moynihan got upset with that. guys, i think it's interesting. moynihan is taking heat.asked, right not? why not just not pay and get help down the line? he's getting hit with the questions that we ask every day. i don't feel bad about that one bit. >> thank you for that update. bank of america, one of the financials not doing too badly on the session. half a percent. what we are seeing the likes of citi down more than 3%. morgan stanley down 2 1/3% here. of course, all of this is sounding from what is going on in europe with a lot of european banks down more than 4 hrs at this point. >> i imagine you're going to tackle some of this today on "fast money." >> at least some of this in addition to morgan stanley and the additional collateral they may have to post. also, we're going to be out there, a lot of big earnings. cisco, also price line, very interesting price action right now. it is higher by more than 1%. it has been climbing in the past ten minutes. the earnings are up tonight on conference call. >> see you tonight at 5:00. simon is going to stick around. see how

and i really did get to know senator moynihan and senator dole quite well. some first-class staff people. the committee treated me extraordinarily well when i was confirmed in 1989. it has been in the same spirit since. the two of you have been spectacular. the staffs work more collegially than is common in congress these days. i guess i feel blessed all the way around. >> we are blessed to have you working for us. especially the american people. you set a very good tone of cooperation and working together. you are a very good role model. something we will keep in mind. thank you. >> thank you. >> meeting is adjourned. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] that quacks this morning on -- >> this morning on "washington journal." rajiv shah. hector barreto will host -- will talk about the issues facing small businesses. .e'll take a look deprogram "washington journal" airs every morning at 7:00 p.m. eastern here on c-span. live today on c-span at 10:00 a.m. eastern, the national ministra

shareholder interest is shareholders are going to be wanting their voice to be heard tomorrow on brian moynihan's pay package which is less than vikram pandit. >> but vikram pandit made a dollar for several years. >> i understand. we can get into that, maria. >> i think that the compensation committee has done a reasonably good job of tieing their compensation to future performance. that said, the performance goal that they've set forth for management is pretty modest. they've set 50 basis points as the floor and 85 basis points as a high end and so that converts to about a 7 or 11% on return for shareholders for stock options, for their stock awards to vest. so we'd like be -- you know, i think the compensation committee has dialed back compensation at b of a. i hope they continue to take a hard look at it. >> so jonathan, bottom line here, as an investor, what do you want to see come out of that meeting tomorrow? you're a major shareholder of b of a. what would you like to see in terms of the company paying back shareholders here? they can't pay a dividend. we know that. >> right. >> and when i

they weren't only shareholders speaking their mind today and really putting chief executive brian moynihanfensive and hot seat about their mortgage practices particularly when they accused him trying to put it off on legacy assets from buying countrywide financial which specialized in subprime mortgages that purchase cost couple billion years ago and but cost the bank 10 billion in loan losses since then. talking about the depreciation of the stock price. shareholders holding bank of america since the '80s and '90s. after all the drama said being a shareholder is more like a comedy but not a very happy one as he has seen his shares depress. they're basically worth half what they were when brian moynihan took over as chief executive on new year's day, 2010. jenna, back to you. jenna: interesting comment there. a comedy. not a lot of people laughing at all this inside i'm sure. >> reporter: not indeed. jenna: thank you very much, robert gray in north carolina. thank you. jon: right now former senator john edwards is in court. his former campaign spokeswoman expected to testify about an argum

brian moynihan to come down there and right a check?u really want to change the system, go to washington. make sure that the overall banking system is changed. what are they looking for? i just don't get it because you're not doing anything to change the laws and the structure of the real banking system by protesting outside of bank of america or the steps of -- >> right. >> but i get it to. we are all frustrated. we have 8% unemployment. i'm mad, too. >> whyeah, exactly. >> okay. we're going to take a break as we head towards the close. >> we're going to go to the head of news corp. the company reports earnings. the bottom line will be hurt because of the ongoing hacking scandal. >>> here's a look at each sector of the s&p and how they are trading at this hour. s hour. on my journey across america, i found new ways to tell people about saving money. this is bobby. say hello bobby. hello bobby. do you know you could save hundreds on car insurance over the phone, online or at your local geico office? tell us bobby, what would you do with

true liberals like hubert humphrey, pat moynihan, ed koch, their universal components at the universities, are all dead or in retirement. their kind of liberal vigor has not been replenished. we have lived through the death of liberalism. and it is time that we acknowledge as much. liberalism is dead. americans today who have missed the sad event can be forgiven. there was no national announcement at the end -- of the end of an era. say on npr or in "the new york times" or even if there were, few americans follow these organs of dead liberalism. there was no weeping, no weeping at the grave side. in fact, there was no graveside. for my part i did file an obituary in "the wall street journal" on december 4, 2010, and now i have elaborated on the book, "the death of liberalism." perhaps i should stop by the roosevelt memorial and leave flowers at the feet of fdr. fdr at least saved the world, and he mixed a swell martini. but now it is time to solemnize the occasion; the death of liberalism. some years ago, in 2009 to be exact, shortly before conservativism enjoyed its mightiest victory in

today chin said, who are you going to hire in moynihan from bank of america? think not. and rcd tweets, of course jamie dimon is still the premier ceo just because some blew up the fund doesn't change that. and it's not about dimon. the system is what is broken. you need to focus on fixing the system to prevent this from happening again. pretty straightforward tweets there. thank you so much for writing in. jamie dimon today did have a successful shareholder meeting. he certainly has his work cut out for him. how can the fbi criminalize basic risk taking? joining me now is bill daley. it's wonderful to have you on the program tonight. >> thank you, maria. >> over the last couple of days, everybody is talking about the jpmorgan trading loss and from the justice department to the fbi, does this really matter? does it really require a probe by the justice department? >> i don't think it's surprising that the justice department has announced that they are going to look at this. how you define it as a criminal probe or a probe, i think it's logical considering the amount of a

in '83 there was a grand design, democrats, labor, pat moynihan, george -- alan greenspan, everybody, kudlow was one of the secretaries of this committee, and everybody had to swallow hard. the same thing with clinton and gingrich. if you had to swallow hard right now in order to send a signal to business, how would you swallow hard? you got to give up something. you can't have a deal just by saying this is my invie lat position. >> i'm not into negotiating with myself on television. that's futile in my opinion. more important and to the point, we have put solutions out there. we've been rebuffed with no alternative solutions. if you want to pass any major fiscal legislation, you have to pass a budget to do that. the senate has chosen not to pass a budget for three years. the president has chose ton disavow the fiscal commission, to not put a budget out there that attempts to deal with any of these issues. we have passed solutions. so you need to va willing partner who is willing to engage in these ideas drn. >> why not set up a commission, paul? >> we've had so many commissions, larr

bryan moynihan and joseph hooly walking into the fed earlier today. noticeably absent was citi's ceo vikram. he was traveling and could not attend. any details about this meeting, we'll have them for you. back to you. >> terrific. thanks so much, mary. we look forward to that. when it comes to the market the only thing that seems to be clear about this particular market is that things are rather unclear. the market trying to move higher, it's well off its lows. there are those obstacles ty mentioned, europe, u.s. economy and bob pisani is here to kick things off. you always like to say, try to explain this to your mom. if you can explain it, more power to you. >> good luck. we've got this crummy choppy economic data and the dow at a four-year high. how do you explain it to your mother? i'll tell you, mom, there's no place else to put your money right now. look at that. we've come off the lows here today and there's no place to put money as well as a qe-3 kind of play going on here. now, we have concerns about the global economy. you've got demand dest

patrick moynihan was on the sidelines. other democratic politicians like at the stevenson and hubert humphrey, they were really marginalized. remember this, in 1948, hubert humphrey was too radical to be considered a candidate for higher office. by 1972, he had been a candidate, and his radicalism had been toned down a bid. robert carroll talks in his new book about humphrey being a radical liberal. another way to put it is he was an ardent liberal in a party that had conservatives, moderates, liberals -- a lot of diversity. it does not have the diversity today as a result of people like hubert humphrey, who are called conservative today. he was no conservative, but he was a man you could respect. host: indiana. thank you for waiting. caller: liberalism has taken over education and the news media. the president of the university of tennessee kept calling our government a democracy. people called and it was not a democracy, and he left. you had two limbos yesterday, -- liberals yesterday, and they said the problem is the li

bryan moynihan also gearing up to speak. jpmorgan down. the stock as you know has taken a big hit in the past week down almost 10% in the wake of the multibillion dollar trading problem. mary thompson's on the beat at the deutsche bank in new york. >> hey, sue. earlier todday dimon emphasized it's not going to impact the bank's dividend. then he surprised the audience by saying the bank plans to suspend its stock buyback program. >> we have decided to suspend our purchase program. we have made a commitment to ourselves and increase it. increase it to what we think about what the new target will be. >> last -- last march regulators approving the bank's request to buy back $12 billion of stock this year and then $3 billion additional shares early next year, dimon didn't say if regulators suggested the suspension because of the trading losses in an e-mail to the company seeking comment was not immediately returned. now, dimon says when the bank does resume the buyback plan, and it will, he said he's not going to tell investors. but the move d

they're voting on several proxy issues and ceo brian moynihan is expected to get the thumbs up on hisheadquarters. they'll be looking at their situation where it will give police more power to search near a major gathering. >>> and green mountain coffee roasters shake up things as well. demoting lead director william davis. now, green mountain's stock fell sharply after disappointing earnings last week, forcing the men to sell several shares. their stock sales came when insider trading was prohibiting. both will remain on the board. stiller tells cnbc he's shocked by the move. green mountain shares fell 3% in the after hours session. in frankfurt they're higher by 0.8% at 20.05%. >>> coming up we're going to take a look at the trading day on wall street. plus the left leader will form a coalition government today. all of those details after the break. break. are you still sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. ens. answers.  >>>

there's one analyst that says moynihan ranks as one of the worst big bank ceos.e down more than 40% under his leadership and that was when the recession was over. but there is one positive. other ceos, they're having a hard time, too. for them, the way see it, it's harder for them to make money. >> thank you. >>> coming up, changing picture of the american family. more moms are now heading to the office while dad stays home with the kids. all because of the bottom line. >>> gooding has made its mark. larry paige while pursuing a ph.d. at stanford university. he was the first ceo until 2001 returning to the position last year making him the youngest ceo on the fortune 500 list. his annual salary, 1. for three hours a week, i'm a coach. but when i was diagnosed with prostate cancer... i needed a coach. our doctor was great, but with so many tough decisions i felt lost. unitedhealthcare offered us a specially trained rn who helped us weigh and understand all our options. for me cancer was as scary as a fastball is to some of these kids. but my coach had hit that pit