john: thank you, paul miller. >> thank you.oming up, if they are watching us all that time, what watching us all that time, what do we really lose? all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. smoke? nah, i'm good. [ male announcer ] celebrate every win with nicoderm cq, the unique patch with time release smartcontrol technology that helps prevent the urge to smoke all day long. help prevent your cravings with nicoderm cq. yeah. i heard about progressive's "name your price" tool? i guess you can tell them how much you want to pay and it gives you a range of options to choose from. huh? i'm looking at it right now. oh, yeah? yeah. what's the... guest room situation? the "name your price" ol, making the world a little more progressiv

john: thank you, paul miller. >> thank you. up, if they are watching us all that time, what watching us all that time, what do we really lose? all right, i know this isn't any fun to talk about, but we should. ok, so who's going to do what? i'll pack the dead batteries. great. girl: i'll only put what i don't need into a duffle bag. perfect. that's totally unhelpful. no problem. meanwhile, i will try to comfort everyone by speaking in a calm voice. and i'll try to get the generator going without any gas. oh, let's not forget the cell phones, which probably won't work. right. and who is going to handle supplies? i can forget to do a list for us. thanks, pal. well, i think we couldn't be any less prepared. i'm proud of you guys. announcer: talk to your kids about who to call, where to meet, what to pack. visit ready.gov/kids for tips and information. john: led if i don't want that guy to know what i'm doing? go way. leave us alone. >> the leges it is pointless to complain. privacy is a thing of the past the web site called google

john: thank you, paul miller. >> thank you.ing up, if they are watching us all that time, what do we really lose? [ male announcer ] some come here to build something smarter. ♪ some come here to build something stronger. others come to build something faster... something safer... something greener. something the whole world can share. people come to boeing to do many different things. but it's always about the very thing we do best. ♪ john: led if i don't want that guy to know what i'm doing? go way. leave us alone. >> the leges it is pointless to complain. privacy is a thing of the past the web site called google's allows anyone anywhere to learn all kinds of things for free. any stranger can see dozens of pictures of me. some of these i did not one to send all around the world but too bad for me some of these are not even me some more photoshop but i have no control. likewise to reveals information about me. some of it is wrong but little i can do about that either. facebook knows my preferences and who i might stockier and

john: thank you, paul miller. >> thank you. us all that time, what do we really lose? short word ths a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." when my son was born, i remember, you know, picking him up and holding him against me. it wasn't just about me anymore. i had to quit. [ male announcer ] along with s

john: thank you, paul miller. >> thank you.up, if they are watching us all that time, what watching us all that time, what do we really lose? why relocating manufacturingpany to upstate new york? i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com [ dog barks ] ♪ [ male announcer ] imagine the cars we drive... being able to see so clearly... to respond so intelligently and so quickly, they can help protect us from a world of unseen danger. it's the stuff of science fiction... minus the fiction. and it is mercedes-benz... today. see your authorized dealer for exceptional offers through mercedes-benz financial services. let's see what you got? rv -- covered. why would you pay for a hote

paul miller went off the grid for a year. why? >> well, it was too much.ng only internet for all of my life. i had been doing it since i was a teenager. i worked online. all my friends were online. >> you were a contributing editor at the verve. >> yeah, i was a technology writer. >> are you scared that they're watching you? does it bother you? >> it doesn't bother me. as a technology person, there are so many cool things that if a company knew everything about me, they could figure out paul is depressed right now and we should call his mom. that might be comforting for me. >> the day you started, your friends gave you a countdown and helped you unplug your internet connections. >> five, four, three, two, one. paul's off the internet, dude. >> so you were off and then what happened? >> well, it was great at first. it was kind of -- i kind of got a high. a zen thing where nothing could bother me anymore and i was really at peace with the world and at one with myself. there's a lot of boredom, but that kind of led me to read more and write more and be more p

let's bring in paul miller, fbr cap lal markets' managing director and bank analyst.y first question was why was anybody surprised jpmorgan had some trouble here? we knew the mortgage business was going to be very ugly. >> we knew it was going to be ugly, and jpmorgan even said two months ago they were going to lose money in mortgages for the year. that wasn't it. it was their trading revenue line items that missed the street, and a lot of it's fixed income, some of it's mortgage related, some of it's debt issuance. a lot of people park their numbers down, and they still missed numbers. that's why the market's nervous about this. when you start looking at the morgan stanleys, the goldmans and all these other fixed income trading desks, it doesn't bode well. that's why the numbers are coming down. liz: fixed income trading revenues were down 20%, am i correct on that? year-over-year? >> year-over-year, yes. and we knew they were going to be down. liz: had you been listening -- not you, but the collective you -- to charlie gasparino months ago. why is this coming as a s

however, paul miller went off the grid for a year. why? >> well, it was too much. internet for all of my life. i had been doing it since i was a teenager. i worked online. all of my friends were online. >> you were contributing editor. >> yeah, a technology writer. i was overwhelmed and i wanted to quit and get away. >> are you scared that they're watching you? does it bother you? >> it doesn't bother me. as a technology person there's so many cool things that if a company knew everything about me they could predict that -- they could figure out paul is depressed right now and stopped taking his medication and we should call his mom. but that's terrifying for a lot of people but that might be comforting for me. >> the day you started your friends gave you a countdown and helped you unplug your internet connections. >> 5, 4, 3, 2, 1. paul's off the internet, dude. >> all right. so you were off and then what happened? >> well it was great at first. it was kind of a -- i got a high like a zen thing where nothing could bother me anymore and i was really at peace with t

. >> reporter: mortgage analyst paul miller has been revising his numbers down for mortgage volume every month. he's at $1.1 trillion worth. compare that to $1.9 trillion many 2013. >> the bigger guys are not going to do it. that's where you get the marginal borrowers. that's how you give them credit. >> wells fargo said it would start offering loans to those with lower scores, but only through the fha and only through their own retail channels. it's a very small share and a far cry from the days of sub prime lending. >> after a long season of cold, snowy weather in most parts of the country, retailers were feeling the brunt of old man winter. many of those companies are now betting on an extreme case of spring fever. >> reporter: this year has been harsh for retailers with severe weather winter keeping shoppers at home, cranking up the heat, subs subsequently cutting into budgets. with spring weather slow to sprout and easter landing three weeks later, wall street had low expectations for retailers march sales. however, costco managed to surprise to the upside with sales gaining 5%, sho

. >> mortgage analyst paul miller has been revising his numbers down for mortgage volume every month. now, he's at 1.1 trillion dollars worth. compare that to $1.9 trillion in mortgages made in 2013. >> the bigger guys are just not going to do it. that's where the scale is. that's when you really get, you know, the marginal borrowers, below 680 fico scores, that's how you give them credit. >> wells fargo recently said it would start offering loans to borrowers with lower fico scores but only through fha the government's mortgage insurer and only through wells' own retail channels. it's a very small share and a far cry from the heady days of subprime lending. i'm diana olick in washington. >>> maryland lawmakers are trying to help some of the have-nots. they've easily passed a bill to raise the state's minimum wage to $10.10 an hour by the year 2018. it's expected to be signed into law by maryland's governor who made raising pay levels a priority this year. the $10.10 minimum matches a measure passed in connecticut last month and it's the same amount president obama wants to establish

paul miller went off the grid for a year. why? >> well, it was too much.ing only internet for all my life. i have been doing it since i was a teenager. i wanted to quit and go away. >> are you scared? does it bother you? >> it doesn't bother me. there are so many cool things if a company knew everything about me they could predict and figure out call the press right now we should call his mom. they are really interesting. but that's terrifying for a lot of people. that may be tough for me. >> the day you start in your friends gave you a count down and helped you unplug your internet connection. >> 5, 4, 3, 2, 1. >> they were off and what happened? >> it was great at first. >> it was a then thing where nothing could bother me any more. >> there is a lot of board dem. it allowed me to read more write more and be more productive. that came around on me. >> i got lonely and pretty bored. >> you fell out of sink with your friends. >> yeah, i wasn't on their radar. i just wanted to get by to the party. >> you wrote an article. >> i didn't know a the last name of

we are getting paul miller. he will look ahead to the city groups of the world.e regional bank names. our investors missing the biggest elephant in the room? we'll also be talking to mike holland. we will talk till about whether there really is a slowdown affecting our markets. >> this is really a very important time for the market. everyone will be talking about this over the weekend. we are looking at the dow right now. down almost a full percentage point. the s&p down a full percentage point. coming up, it is just 81 days. eighty-one days until i get all my disney cruise and headed to the sunset. i am kind of dreading this. we will see if it works. you can never have too much money. we will be right back. ♪ [ male announcer ] when fixed income experts... ♪ ...work with equity experts... who work with regional experts... that's when expertise happens. mfs. because there is no expertise without collaboration. >> another rough ride in the market today after another wild week. nicole, what are traders saying? you are seeing even more decline. 450 of the 500 names

i spoke to paul miller who's been revising his numbers down every month. he was at $1.5 trillion. now he's down to 1.1 trillion. compare that to 2013. besides those higher rates, what's the problem? credit standards. which usually come down a little bit. not easing at all. only about 30% of 2013 loans went to borrowers with a fico credit score below 720. they also note that nearly half of all transactions are in cash. banks are not willing to ease up despite what you may have heard about wells fargo. that is a very, very small subset. miller also says other banks have told them no way are they going to go below seven fico. we have lots more numbers of course online. tyler? >> thank you very much. let's bring in susan. she's a professor of real estate sf finance at the wharton school of the university of pennsylvania. welcome back. put those numbers into context. what do they mean for me this spring if i'm buying or selling a house? >> well, they reflect the slowing real estate market overall except if you are selling to an investor. typical owner putting their home up for sale is

fbr's paul miller said trading and markets are so unpredictable, but ceo jamey dimonside it will be upistent pressurance, remember it's driven by technology, research, sales, ideas. >> >>> well fargo saw record earnings up 14%, even though loan growth was slight. mortgages expectedly rather slowed, and the big question for ceo on its call, when will he hang it up? >> i'm 60. i know you think i look a lot younger, but i -- i plan to stay here at the board, if the board is okay with that and they said me, you know, through my 65th birthday. and we've got great people here. >> john stumpf saying he will stay until 65, but one of those people who could replace them is current cfo tim sloan, he is one to watch, but overall, guys, really not a good way to start off the earnings season. >> kayla, stay with us, we're going to talk more about this, and we're going to bring in kneale wine berg. you heard her detapes, and i you thin, jamey dimon seemed a bit defensive. >> he asked if he was still having fun, he said yeah, not real convincing. the problem is there's no growth anywhere. the banks a

paul miller is with sbr capital markets, seven years on from the beginning of our financial crisis, theo fail banks are trying to figure out their collective futures, one of all, goodestions, morning to you. the road to speak with you as we await goldman sachs. -- paul, good morning to you. you as weo speak with await goldman sachs. >> i think the whole banking system has too many people but i think he will continue to seek layoffs, and with the bigger banks, all the mortgage operations given the fact that the spring buying season never occurred, that is one of the big areas i think you will see a lot of layoffs is in the mortgage banking area, but yes, i think measure withid not the call structures. >> there is an argument in national hockey over who is coach of the year. i would suggest ceo of the year in your world, maybe james gorman. what has james gorman done differently at morgan stanley that the other bankers have not done? >> all these banks are very different. i think everyone wants to slap them into one situation, but these guys have done a great job with the wealth managemen

host: the recipient of a paul miller reporting fellowship, our guest is a graduate of harvard.began her career with the chicago tribune, the cq, and the associated press. and now she is a washington correspondent for the las vegas sun. we would like your comments. muriel is joining us from brookfield, florida. good morning. caller: isn't it the taxpayers money that buys the land? why can't we, when it is not in use, why can't it be used for the people who help us and feed people? i don't understand that. i would like an answer. i mean, i had more, to, but i can't think of the other part of the question. but that is mainly what it is all about. .e purchased this land the taxpayers are the ones that purchased the land they have. host: think you, muriel. guest: how can i get this without adding too much history? if you want to talk about whose land it is and the land exchange is, you have to go back to the 1800s when the government was french off land -- offload this land to people. they were pretty cheap sales going on for quite a while. that did not flip until the beginning of t

now i spoke to paul miller at fbr who has been revising his numbers down for mortgage volume every monthllion worth for 2014. now he's down to 1.1. compare that to 1.9 trillion worth of mortgages made in 2013 so besides higher rate, what's the problem? credit standards which usually come down when refi demand drops off. it's not easing. only about 20% of 2013 loans went to borrowers with a fica score lower than 720. despite what we heard of wells fargo dipping back into the subprime, that's a small subset only through a. miller says other banks said no way will they go below 700 fica because they are too concerned if loans go bad they will have to pay up to fannie, freddie and the fha. kelly. >> diana, thanks very much. meanwhile, an entirely different story for the second home buyers' market. sales jumping 30%. reason, investors who have had a part of the bull run in the stock market are using the profits for a beach house. joining me now to discuss along with the panel is ryan sirhan. you might recognize him from bravo's reality show "million dollar listing," after my bedtime, ripe, bu

here to break it down is paul miller, managing director and head of financial institutions research atout jpmorgan. obviously, wells fargo is the contrarian in a down market, but we're seeing weakness on jpmorgan. there's a lot to pick through here, and i'm wondering what stands out to you? >> well, on wells fargo, you know, it looks like a great headline number, but the quality is not good either. on a core basis they probably missed everybody's numbers. as people go through that, they'll lose enthusiasm for wells fargo. but for jpmorgan, the big thing was the income miss. we were expecting a weak mortgage quarter. we were expecting a weak fixed income quarter, and that's what you're seeing with the street. for wells fargo, they had some great mortgage numbers, but a lot was hedging gains, security gains. so on a core basis, they didn't do well. we were afraid a lot of the banks were running up on expectations of a great economy, expectations of higher rates. and now you're seeing rates drop. >> when you think about what jpmorgan executives have been saying all morning on their confer

. >> that is frazier glenn miller just months ago talking about joseph paul franklin who was executed last year for the killing spree that he went on. your center, the southern poverty law center, talk about the plot against the founder morris deeds. morris asiller saw his mortal enemy. at that point, morris and the center were becoming well known. we were just starting our first major lawsuits against klan groups. it was based here in alabama. thatidea was going around morris was the absolutely number one enemy of white supremacy in america, and he needed to be taken out. miller, in fact, created a point system where people like joseph paul franklin would get one point for killing black people, 10 points for killing jews, 50 points for killing judges, and 888 points are killing morris dees. i think that reflected more or less the way other people in the white supremacist world saw morris. there was another plot in which involved scourging morris. they wanted to tear the skin off his body. there's a lot of hatred there. that is one of the reasons why i work in a building that is surro

miller and julie bykowicz on janet yellen. julianna goldman on joe biden's trip. margaret carlson and ramesh ponnuru on gay marriage. and ted cruz versus rand paul. we begin with former secretary of defense william cohen. thank you for being with us. there were some signs of easing. they signed the communiquÉ. are you optimistic? >> i would like to be but we need to look at what president putin has done and his declared intentions. he has been speaking as if the eastern part of ukraine is already part of russia. he has talked about the new russia. in his mind, there will be over time some federalization of ukraine which would mean the hollowing out of that government and reducing the ability of the government to really have a coherent state that they can control. i think that is his ultimate goal. he will continue to have his forces on the border and continue to agitate. the united states and the west really is at a disadvantage. >> not much we can do other than sending forces over. will sanctions have an impact? >> they are having a major impact already. i would covertly or quietly propose to the russians that we have a whole series of addition

miller. take a look at the menu. in motors, the new rolls-royce ghost rolls into new york, where it still has a number a lot in the door. paul talks and coming equality and jobs. there's still something left over for a list of things that makes him very angry. the good, the bad and the ugly of earning season. turning a penniless nonprofit into a solar energy giant. we will spare you the egg puns, but we will have caviar and cap very, just in time for the holidays. play ask to vladimir putin. [applause] >> this is not a game show. the russian president held a televised question-and-answer show. he took questions from a studio audience by computer and phone from places all over russia, including the newly annexed crimea. it here's a summary of what he had to say as told by our ryan chilcote. >> it is not up to russia and the west to resolve the crisis in ukraine. he hopes he doesn't have to send troops into eastern ukraine. he has the right to send russia's military anywhere he wants. it one final thing, remember how the kremlin insisted that during the crimea crisis, there were no russian forces in crimea. today, he said am a

miller. take a look at the menu. in motors, the new rolls-royce ghost rolls into new york, where it still has an umbrella in the door. in nation, paulalks income inequality and jobs. there's still something left over for a list of things that makes him very angry. in company, earnings-palooza. the good, the bad and the ugly of earnings season. turning a penniless nonprofit in s

said plenty of good things about john paul, but i did not whitewash the truth because that's not the christian way. joyce ann ray, new york, bill, we saw you and milleright. the tickets were one of the best christmas gifts ever from our kids. we have fun, too, guys. with mothers' and father's day coming up, rapid city july 25th and fargo, north dakota the next night july 26th, smashing gichtgichtfts. finally tonight, factor tip of the day, last summer i met mr. jamie foxx at a party. general colon powell was there. he told jay hmie foxx about it. >> you know how it was, man, everyone was in there and colan powell, try to get bill o'reilly on there. [ laughter ] >> get away from me, jamie foxx. [ laughter ] >> he wouldn't even -- >> i don't want any part of that basketball or whatever you guys are doing up there. >> basketball. that's not what it's called. >> happy eating chicken, i don't want any of that. [ laughter ] >> listening to hip-hop and all of that kind -- jamie foxx is a pen head. get away from him. [ laughter ] >> i'm kidding. i love bill o'reilly. i'm joking, man. >> i know. >> i don't know if i'm feeling the love, but i like foxx. he's a

used the last name miller, the black the new york knicks' iman shumpert had the crowd going last night. watch as he drives with the ball and hits the brakes.. while brooklyn net paul pierce keeps going and falls on the floor. shumpert might have gotten away with a push-off as he keeps the ball and buries the jump shot. the knicks win the game, but unlike them.. the nets are in the playoffs. singer/producer pharrell williams broke down in tears during an interview on "oprah prime" with oprah winfrey. the host played a montage of people around the world dancing to his hit song "i'm happy." williams said the reaction to the song has been overwhelming. later he tweeted that this was one of the most sincere humbling during an interview... and that he was crying 'happy' tears. >> happy tears ... bowlers usually stare down the pins before they let go of the ball... but a local bowler prefers not to. andrew cowen, from rockford, is after a perfect 300 game.. but he wants to do it bowling backwards. he says he bowled his first perfect game when he was just 16-years old. he did that while bowling like a normal person.. so far his highest backwards score is 280. >> simply fo

. >> matt miller's biggest surprise of 2014 is that i am not a netflix subscriber. very interesting. there you go. paul for joining us. paul sweeney and cory johnson. i'm not sure if i will give cory a sign off. we are losing our connection with the west coast. >> you can take it. >> goodbye, cory johnson. bloomberg west editor-at-large. be sure to tune in for "bloomberg west" this afternoon. much more on fire tv and what it means for the broader streaming business. do not miss out on the primetime play coming up on "bloomberg west." >> since we are talking about media, let's get to my interview with billionaire media mogul barry diller. he is the biggest factor of aereo. it is being sued by broadcast networks. they say aereo is illegal. it does not pay retransmission fees, the privilege of bringing it to the consumer. lawsuit has reached the supreme court, which is hearing arguments in a few weeks. i asked barry diller about the case and whether the decision is indeed a matter of life or death for aereo. >> yes, i believe so. >> so if you lose -- >> if we lose, we are finished. >> there is nothing you

miller. take a look at the menu. in motors, the new rolls-royce ghost rolls into new york, where it still has a number a lot in the door. paul jobs. there's still something left over for a list of things that makes him very angry. the good, the bad and the ugly of earning season.

miller once he was reported missing. air and boat crews were sent out to look for him and the f.b.i. continues to investigate. >>> music legend paul returning to san francisco to play the last show at candlestick park. it is the same convenient convenient --ç venue where the beetles played their final show. >> you know who they wanted? he said i looked at candlestick park. it is such a mess. why don't we open at the new park. there was so much pressure to close candlestick. he said i'd close it. >> "let it be" will now replace let it go. >> i can't wait to let it go. >> we're going toç let it go for this segment. coming up next, he discovered america but one american city banning christopher columbus day and replacing it with indigenous people day. we're going to tell you why and tell you where. >> that's right. look at this. a father kicks his kid down a skateboard half pike. it was supposed to inspire him. what do you think about that? >> whoa daddy! ♪ ♪ ♪ (announcer) from the company that invented litter, comes litter re-invented. (woman) hey! toss me that litter! (announcer) tidy cats lightweight. all the strength, half the