j-p morgan loses billions of dollars.why the huge loss isn't all bad news.aint project from "that looks hard" to "that didn't take long". let's break out behr ultra... ...the number one selling paint and primer in one, now with stain blocker. each coat works three times harder, priming, covering, and blocking stains. let's go where no paint has gone before, and end up some place beautiful. more saving. more doing. that's the power of the home depot. behr ultra. now with advanced stain blocking, only at the home depot, and only $31.98 a gallon. to make peanut butter so deliciously creamy. it might just make you feel like a kid again. [ both laugh ] choosy moms never stop choosing jif. are made with sweet cherries and the crisp, clean taste of our cranberries. i cannot tell a lie. 'tis tasty. okay, george washington, did you take my truck out last night? 'tis tasty. ((breek 3)) one of the country's biggest banks is taking a bbi hit. alissn kosik has more on the multi-billionndollar loss. 3 j-p morgan chase reported a massive 5-point-8 billion dollar lossstied

banks.j-p morgan .. andd.. ba. chase... reported losing... 5.8--billion trades...ndon got... even worse.../ . the... companyysays... the chief investment officcr... and others... were... fired... from the bankk.. and... could lose... as much as ...two years of income... because... oo.... the expensive... mistake.../. j-p.. morgan.. wiill... no longer ...trade derivatives.../, which... were bbhind the bigglosses. one mmnns... dying wish... ...is making waitresses ...in happy.aaron collins... died... last week...///. in his ill.../he wanted ...his relaaives.. to go....tt a restaurant... and... leaveea big tip./.. like.. 500 dolllrs "big...../here's his famiiy... doing exactly ....hat aron the waiters... could wwat just happened..../ worr... of this... spread on--line...//. ...and... peoppe... have ddnated ...10- thousand dollars ... story... to our website.. . fox-baltimore dot poo slash newslinks 3 &p3&p 3 by now, we've all heard of "50 shhdes offgrey", the erotic &pbook. well nnw there's "50 shades of grey," theeyoutube usicaa. jeanne moos utube exxlaans why this c

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morgan pt came down tt the deadline... but the oriolesslocked p pick... evin gausman.option off &pjunior season if the ddal dddn't come througg...buu it 4-pointt3-2 million dollar signing bonus..gaasman went 11- 128 strikeouus in 16 starts for l-s-u.gausman was drafted out of high school in colorado by the odgers... but decided to go to l-s-u... a program that wasn't easy to walk away from. 33 &pthe o's montra the past few years has been to row the arms and buy the bats...but since 2002 onlyy2 pitchers that were taken in the first round have made it to the big leagues....adam low-en is now an outfielder in the blue jjys organization.ann brian matusz is back in the minors.... gausman hoping to follow in the footsteps of dylan bundy who's the most coveted o's open the 2nd haaf of thh season wwth thh tigers...nick markakis back from the d-l.... warning rrck and intt the seats for a ground rule doubll...wilsoo bettmit scores from 2nd...markakis 1-for-4 in hii return...o's trail 221.... the top of the 4th...misses low for a ball...but that's not the concern...hammml comes u

p. morgan chase. we want to thank our host sponsor, pacific gas and electric. dignity howff, kaiser permanente . thank you to all of our sponsors. i am supposed to wait six seconds so everyone can read this list. have we screamed through that? it is quite a long period -- quite long. united airlines, union bank, and our media sponsors, the san francisco examiner and hers media services -- hearst media sponsors. thank you very much. i could not do it without you, so today we celebrate the successes this chamber has accomplished and the promise of greater successes ahead with our team this morning of prosperity, business, labour, and government united, because that is the key to making the city viable and sustainable, and with our new mayor across more business- friendly, economic-friendly, we are all working together to a common goal with sharon priorities, and that is truly a formula for prosperity and improving the well-being of all san franciscans. the 2012 city beat poll survey of san francisco voters found that some franciscans are very optimistic about the

. >>> j p morgan chase said their giant trading blunder was more serious than first reported. the fall out for the bank and its traders. >> jp morgan chase now says the trading mistake has cost the bank $5.8 billion so far this year. that's almost triple its original estimate of the loss. ceo jamie diamond told analysts this has shaken our company to the core. traders in london managed the botched portfolio. they were supposed to be protecting the company against risk. diamond said the managers had been dismissed without pay. he plans to take back 2 years worth of compensation from each of those executives, that includes the bank's former chief investment officer. >> until the trading loss came to light jp morgan had one of the best reputations in the banking business. it's working hard to repair that imagine. >> diamond told analysts we're not making light of this error but we think it's an isolated event. the company made a profit of $5 billion in the last quarter. that was down from a year ago but still beat wall street's expectations. >> those better than expected profits

j p morgan credited the swindled money become to the victim account. >> 15 suspected sexual predators are under arrest tonight in the silicon valley following l bust on record in california. series of coordinated raid police from 30 department and agency search warrants on 20 homes including this one on merle avenue in san had say. tl operation chicken hawk sweep spearheaded bit internet caims against children task force. >> our biggest fear is that people that are engaging in this type of behavior on license might escalate the behavior and start to actually target the children in our community. that's absolutely unacceptable. >>reporter: the task force hazard more than 40 child porn suspects since january. >>> hears what happened after an emergency landing overnight in l peoria, illinois. watch. >> this is how we just got off the freaking plane. no joke. >> happened when an american eagle flight on its grey denver to chicago with 53 people aboard run into a storm as it approached o'hare. it was diverted to nearby peoria but emergency when smoke started streaming into the cabin. one p

j p morgan credited the swindled money become to the victim account. >> 15 suspected sexual predators are under arrest tonight in the silicon valley following l bust on record in california. series of coordinated raid police from 30 department and agency search warrants on 20 homes including this one on merle avenue in san had say. tl operation chicken hawk sweep spearheaded bit internet caims against children task force. >> our biggest fear is that people that are engaging in this type of behavior on license might escalate the behavior and start to actually target the children in our community. that's absolutely unacceptable. >>reporter: the task force hazard more than 40 child porn suspects since january. >>> hears what happened after an emergency landing overnight in l peoria, illinois. watch. >> this is how we just got off the freaking plane. no joke. >> happened when an american eagle flight on its grey denver to chicago with 53 people aboard run into a storm as it approached o'hare. it was diverted to nearby peoria but emergency when smoke started streaming into the cabin. one p

andres garcia-amaya, global market strategist at skrchlt p morgan funds. >> tom: the slowing global economy is also taking a bite out of mcdonald's business. the fast food giant had a weaker-than-expected second quarter profit as a stronger dollar cut into profit margins. as diane eastabrook reports a growing global appetite for big macs, egg mcmuffins, and fruit smoothies looks dicey for the rest of the year. >> reporter: mcdonald's is not used to disappointing quarters, but that 's exactly what it served to wall street today. in the second quarter the company earned a $1.32 a share. that was $.03 below the same quarter last year. and a nickel below analysts estimates. the burger giant said cash- strapped consumers in nearly every market around the world didn't eat out as much as they had been. analysts say this is very unusual for mcdonald's. >> in the past there have been periods where you might see weakness in three or four of their markets at any given time, but it's been at least several decades since we've seen a global slowdown that is having an impact on every one of their major ma

j p morgan credited the swindled money become to the victim account. arrepredators are under at tonight in the silicon valley following l bust on record in california. series of coordinated raid police from 30 department and agency search warrants on 20 homes including this one on merle avenue in san had say. tl operation chicken hawk sweep spearheaded bit internet caims against children task force. >> our biggest fear is that people that are engaging in this type of behavior on license might escalate the behavior and start to actually target the children in our community. that's absolutely unacceptable. >>reporter: the task force hazard more than 40 child porn suspects since january. >>> hears what happened after an emergency landing overnight in l peoria, illinois. watch. >> this is how we just got off the freaking plane. no joke. >> happened when an american eagle flight on its grey denver to chicago with 53 people aboard run into a storm as it approached o'hare. it was diverted to nearby peoria but emergency when smoke started streaming into the ca

p. morgan's really book mark to market losses that's one hundred forty billion i don't mark to market anything max right so they're going to then got a book value one hundred forty billion but they can at any given moment be sitting on losses between one point four and three trillion that would be my guess right now that i mean i worked at a loss rate and i know that at the end of the quarter of course it came some profits in on a number of accounts and some losses in a number of accounts and then you sell those to corporations looking for you know if they had a tax loss is seldom the loss so imagine that ok it's a five billion or nine billion dollars and that's going to offset some taxes possibly but it's completely manipulation of the balance sheet the complete written in place of the regulator meanwhile what they don't show the regulator is as wild shadow banking snake that's a whipping in the derivatives when up and down by trillions and trillions of dollars and meanwhile of course that monster gets fed ultimately in the form of austerity to the people who are starving there's there's that

p. at t. if they're when they're dealing with these trades with j.p. morgan that they don't have to post the customers martin with j.p. morgan do i have that right so so they have the what's the ok what were you that's ok tell me explain to me what you were telling me about earlier with positions when they have a certain amount of longs and a certain amount of shorts that even out that they'd maybe can keep a customer's money at and they don't have to post it as margin. you know that's that's with regards to the futures contracts the derivatives are o.t.c. they're basically for the most part unregulated there's no central exchange reporting of what these positions with these banks truly are and the derivatives are various other side of the coin is the futures market we were active in that with you have to use well i'm about to use a non clearing firm however so they were they had to clear all of their trades through another clearing firm in this case beijing but the thing is when they're providing that type of a service they're simply acting as a proxy to bei

p. morgan is planning to claw back millions of dollars in stock from individuals connected with this c.i.a.o. trading loss that came out in the wall street journal and they also report that five billion dollars in losses from the whale trade are what's expected to come from j.p. morgan when they report earnings later this week we will talk about all of that on the show later this week from new york we are taking the show on the road thursday and friday i'm not going to tell you exactly what's in store but i'm just going to tell you you are not going to want to miss it we have some amazing guest lined up you may see me hitting the floor of the new york stock exchange to tell you what really goes on there and a re serjeant's of word of the day you may see me trying to tame the bull i don't know i'm just saying but you're not going to miss it that is thursday and friday this week capital account from new york thank you so much for watching our shows in washington and make sure to come back tomorrow to see what we do in new york and in the meantime you can follow me on twitter at lauren lyster a

p. morgan they should create like a fraud a tron you know like the cern scientists the particle accelerator and they can split subatomic particles they need to create a fraud of john placed it on the moon circulate lunar dollars that are collateralized by fraud and then try to get the fraud going so fast because high frequency trading so fast to actually go faster than the speed of light go backwards in time and correct there are books back in nineteen eighty or eighty five the last time they actually had books at j.p. morgan that were cooked. or have aliens. jamie dimon in probe him is that your solution for everything where there's more debt than then can ever be paid back there's no economic output scenario that would pay back that debt the debt is growing as as as a cancer you know i mean it just of cancer justifies itself doesn't have cancer if you asked camps or whether or not it was cancer it was they know i'm doing god's work you know if you ask rust rust are you an essential systemic ingredient of this car and the rust would say yes i'm rust i keep this car together i'm what makes

global g p morgan crime gresham insider trading and yet no criminal prosecutions but he says watch out for what is coming in made to war for allegations about chinese corruption because of course remember whenever america or the u.k. are committing crimes whether it's financial crimes or war crimes or environmental crimes they go pointing their finger at somebody else and say we're looking at saddam hussein he killed five thousand people here whom we have to kill a million here the same thing they're saying there is why scale corruptions they go pushing these stories that there's so much corruption in china what are we going to do about it. coming up frequently now is the phrase the tobacco moment yes so the this is the idea that the library scandal which is now expecting a quadrillion in securities and ripped off tens of millions and hundreds of millions of people is a god to the point now where the tobacco moment kicks in where the tobacco companies finally had to admit that cigarettes cause cancer and then industry was changed forever well they finally admit well the banks around th

p. morgan. a good day for the week. >> have a good weekend. >> my height is broken. can you tell it is friday the 13th. >> that is my ladder that i walked under. >> all right. have a good weekend. >>> a d.c. police officer accused of making threats against first lady michelle obama. we'll have the latest on this investigation this morning. also ahead, an update on the 911 out ams that hit northern virginia after that storm. local congressmen are now calling on the fcc for answers. fox 5 morning news is back in just a moment.  >>> no paver, no land line no, internet. those were all inconveniences many of us had to dole with when the storm tore through two weeks ago today. but in northern virginia, there was a far more serious problem there. some people were unable to get through to 911. now, three congressmen are calling on the fcc to find out what went wrong and what verizon is doing to make sure it does not happen again. two of them spoke with fox 5's brian bolter last newt on fox anews at 10:00. >> there is no excuse for verizon not having this bac

p. morgan chase pay in the $6 billion to retailers. store won the right to raise the fee it charges when it used the credit card. >> all right. we know you will continue to for it. thank you so much. >> all right. >>> we are also monitoring metro for you this morning. computer problems over the weekend led to problems on the rails not once but twice. and this morning, officials are still trying to figure out exactly what went wrong. we'll tell what you is happening this morning to keep the commute as smooth as possible. ♪ ♪ ♪ [ male announcer ] everyone likes a bit of order in their life. virtual wallet helps you get it. keep track of spending, move money with a slide, and use the calendar. all to see your money how you want. ♪ >>> deadly flooding in japan. people say, it's been writtenning, quote being like a water fall. thousands of homes and roads were destroyed. soldiers were brought in to help get to stranded towns. morn a quart are million have been acted. some are being allowed home this morning but officials are warning that th

p. morgan. all the global investigators are looking at this and we'll see what happens.ot good for wall street. >> if they do find out they were in the wrong, probably not good to us either. all right. lauren simonetti in new york. >>> still ahead, what a new poll says about the public perception of the scandal surrounding d.c. mayor vincent gray. >>> also ahead, another round of severe storms tore through our area last night and more storms may be heading our way.. and this one is going to make your stomach hurt were this is a picture that will make you being twice the next time you pull up at a drive-through. a fast food chain fires an employee after this picture turns up online. pass the pepto-bismol and more details in a moment.  >>> come take a look at this. a burger king flowee fired after this picture was posted online. under it was a capping that said, quote, this is the lettuce you eat at burger king. the chain has not condition firmed where the photo was taken but someone who uses the site said it was taken in ohio. >>> another fast food chain under

risky tradeing in london cost j p morgan 5.8 billion dollars almost triple the original estimate.ggest bank rae leased second quarter results today. ceo diamond told analyst there may be a further 2 billion dollar write off once all the trades are unwound. former head of the chief investment office responsible for the trades give back stock and bonus under that claw back provision it's called. traders involved may lose the salary for the past two years as well as the jobs. despite the losses they made a profit of 5 billion dollars in the second quarter. >> have you ever wondered what happened to your old cell phon phone? if they were recycled somebody else may using them and it's possible that your personal data could still be inside. 7 on your side michael finy has a word of warning. >> there's a little bit of this in your phone. >>reporter: he's a tech expert with the electronic frontier foundation. and he's not kidding about golden phone. they can actually be melted down for precious metal or recycled and resold. >> you might think the phone is so old and obsolete but there's p

de valores estaba atento al informe, serÍa de hasta 9 mil millones, el presidente ejecutivo de j p morganoamericanos, y pide el apoyo de conservadoreso. y amantes de la donas estÁn de fiesta, cumplen 65 aÑos de existencia, comenzÓ en carolina del norte en 1937 y se extendiÓ a 700 tiendas en 21 paÍses, el aniversario lo celebra con ofertas especiales para clientes, con una docena de donas por 75 centavos luego del pago de una a precio regular, propongo que lo festejemos, y cumpleaÑos de hoy tambiÉn, con una buena dona y excelente mÚsica, quÉ opinan muchachos? >>> estoy de acuerdo que nos manden donas satcha pretto, quÉ rica que son. >>> y papas fritas, es el dÍa de la papa frita, y quiÉn cumple aÑos hoy? comenzamos con. >>> ahÍ estÁ rauli. >>> lauren de florida, cumple 18 aÑos felicidades. >>> y una muÑeca hermosa, con un aÑo lisett rivera de nebraska. >>> y de puerto rico, ellos cumplen 45 aÑos de casados. >>> wow!. >>> y ella cumple 6 meses en georgia, jazmine argueles. >>> al terminar el programa me voy a puerto rico, cumple 7 aÑos a comer pastel y lechÓn. >>> y celebramos quince primav

p 76 morgan hill, saratoga, fremont, 67. a lot of 60s on the peninsula and in the city. cool, breezy pattern into if wednesday. temperatures will recover by the weekend. tori and dave. >>> 7:09. happening now in placer county, a wildfire that's de-- that's destroyed one home and four out buildings has grown to 4100 acres. brian hickey is live in auburn with the latest on evacuates and the number of homes -- evacuations and the number of homes threatened. >> reporter: good morning, tori. we just got the latest number. it's 2500. the big message that the firefighters heard today was all about the weather and the variable terrain. take a look. you can get a sense of the terrain. f this is great for everyone to cool off -- this is great for everyone to cool off. but this is what the firefighters are warned about. you can see lee most areas with the -- you can see the remost areas. one of the battalion chiefs we talked to was to have a backup plan with these shifting conditions today. they have lost one home in this but they still have another 170 structures that are consider

p end a six-session losing streak. >> susie: tom, investors liked those j.p. morgan results and snapped up shares. j.p. morgan surged almost 6% and the financial sector overall jumped almost 3%. that pushed the dow to its best performance this month, up more than 200 points or 1.6 the nasdaq added 42 and the s&p rose 22 points. >> susie: despite the popularity of j.p. morgan's stock surge today, our next guest says there are still outstanding issues hanging over the bank. when i talked with fred cannon of k.b.w. today. i asked him what issues worry him the most. >> well, the key outstanding issues, and remember, tay have built a strong balance sheet, are europe. what about the big banks in europe, the big mortgages tie into those closely. what about the libor manipulation issue? they're one of the panel member that is tied into those issues. >> susie: break that down into pieces. in terms of the barclays scandal, as regulators and lawmakers investigate this, to what extent do you think j.p. morgan will be impotented? >> j.p. morgan was on the lieb or panel of banks that determine the rate. barclays got

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p. morgan, the $7 billion lost in london. two futures brokers mf global and peregrine have been found to have significant shortfalls. when i hear people say we need to get rid of the reforms of dodd-frank, most of which are not even any effect yet, it makes me wonder if people are paying attention to the same things we read in the paper. again, it is high time we get the regulations out, the reforms of dodd-frank finalized -- when will your commissions get this worked out? >> the whole series of regulatory requirements under dodd-frank to address a range of those issues we ranged including things beyond the title seven whether it is the volcker role or restrictions on asset backed offerings and we're trying to move them as quickly as possible. it is going to be -- we have a lot of work ahead of us but we understand the emporiums of getting it done as quickly as possible and try to end -- we understand the importance of getting it done as quickly as possible. >> we are well over half way down. you give us 55 things to do. we h

. >> so firms like a morgan stanley or goldman sachs or if you were to hire j. p those invest banks techl sefs going to too much were that? >> a >>age you manage understanding markets and con is. and you manage it by bay -- having aable, that people nope what's there. they know how to mark assets as far as when you're figuring the leverage by what is marketable, real estate deals that weren't marketable will be charged in a different way to figure out the capital. >> what was your turning home for you? >> i think the turning hount is from what's happening i see a four-feeting position of leadership in the world. >> but this come to you in 2008, come in 1970. >> this is a true evolution. >> trud. it's something that i've bying and i wanted to really get my thoughts to the and said somebody but i think it really -- good this evenings are simple. and i think what i'm saying is very simple. you don't need a thousand pages to figure out what one's leverage is or how would you evaluate assets to determine what is one side of that equation. >> let's review this. >> by th

p, the financials let us out. i don't bow at the alter of j.p. morgan. the stock closed up 1.6%. a name we have been mentioning for a while now on what was a lousy take most of the day. look at what black stone did. the stock closed up so j.p. morgan if you're looking for a trade with a good risk reward. as long as we can hold that 1344 level, maybe we make that push back up to 13.66. >> and it was not just j.p. morgan and morgan stanley. bank of america, caterpillar and eaton was strong pretty much for the entire session. >> what's going on right now is that earnings estimates have come down to a level. margins are down. margins are up. that's what fwot them to be. the same story i got them everywhere else. 65% of the companies have beat earnings but almost an equal number have missed on red news and ultimately productivity gains go by the wayside. i'm remaining caution on the market. >> let's bring rebecca patterson in for more on the story. she is also a money in motion. does this change at all the outlook? >> the negative outlook for some of the poor european countries is rea

p are up. wells fargo and j.p. morgan also up. >> let's go over to the weather now. >> everybody is happy today. it is a fantastic friday, friday the 13th, looking pretty good around the bay area. it looks like cooler weather finally coming our way. the clouds could not come any time too soon. temperatures are cooling off outside. 53 degrees in san francisco. by the afternoon, warm or hot in some spots. plenty of '60s and '70s around the bay with low 80s and the santa clara valley. we will see the ridge of high pressure continued to migrate to the east. more low clouds and fog for us. we will see a stronger push tonight surging well into the valleys. a great start to the day and cool temperatures out there as well. the state temperatures, 93 in brentwood, 89 in livermore. the next couple of days we cool things off for the weekend with more fog and low clouds on the way. for a while it was so light at the bridge there was barely a delayed but that will change when they turn the metering lights on and now we have a backup e