u.s. banks have largely passed the u.s. street tests. but is there more ahead? s it means for the role in regulating these banks? still around. we'll have that discussion here on "worldwide exchange." >>> fed says the biggest u.s. banks have enough capital to with stand a severe economic shock. all but one, ally financial, passed the stress tests. bo bofa, wells fargo and citi saw the most improvement in their tier one capital ratios. goldman sachs had among the weakest outcomes. the fed said it would suffer the biggest losses. banks have until the enof march now to publish results of their own test uses the fed's same scenarios. after the result, citi announced its capital plan saying it's not going to raise its dividend, but has asked to launch a $1.2 billion buyback. in keeps with the theme of the moment, shares up 2% with that news in frankfurt. wells fargo fractionally higher. goldman weaker by more than 1 is%. david wessel is still with us. economics editor at "the wall street journal." this perhaps is reminder of how much more oversight the fed has on thes

u.s. banking system. if anything this may actually make the u.s. banks stronger as money pulls out of europe into the safe haven of the u.s. bank >> i agree with steve. melissa: let's go with that. u.s. banks stronger? >> it does as a safe haven. but what makes me nervous is not that there will be a run on u.s. banks. you about there are a trillion dollars in deposits a-10% tax, sorry, there are 10 trillion. a 10% tax on u.s. deposits would yield a trillion dollars. i'm afraid some nutty budget tear in the washington will come up with the idea. >> good point. >> and scare the day lights out of everybody for no good reason. >> they're already talking about that, look they're already talking about a transaction tax. there is a lot of buzz about that. they will not put a 10% tax on but i wouldn't rule it out. >> i would rule it out. melissa: what about the transaction tax? that takes us down the same road. they're talking about the consumer financial protection bureau having oversight of 401. cans so they can protect us from ourselves, i don't know. >>

they are going to come to the u.s. banks. so at the end of the day, this may actually be a positive for some of the bigger u.s. banks. > and what was going on with oil yesterday? there was some slippery trading happening. > > that is a good one. early in the morning, when the news first came out with cyprus and everything and there was a little bit of panic, oil was down over $2 a barrel. sure enough, by the end of the day, it crept up, crept up, crept up, and we saw it actually up by the end of the day. so, again, i think cyprus is behind everyone, and the focus again is on the fed. > good to have you on the show. that is scott bauer of trading advantage. have a good one. > > you too angie. if you want to incite a run on atms, just tell bank depositers that a portion of their savings will be confiscated in a tax to bail out the country's finances. in our cover story, that's the scene as the mediterranean island of cyprus faces what its president calls "blackmail" for a bailout. *the run on atms in cyprus was sparked by a con

well, bank sources i spoke to said u.s. financial giants didn't do business with cypriot banks or corporations if there's any counterparty trading risk. it would likely be negligible, unless, maria, the ripple effects from what we're seeing over there tend to widen. >> all right, kayla, thanks very much. we'll be watching that, obviously. what's ahead for cyprus right now? we are right now joined by george theocoritus. good to see you. we have, george, the professor of finance at cyprus international institute of management. he'll be joining us shortly, and peter kekyanus is the chairman of the cyprus chamber of commerce. i guess it's interesting that we see this plan unveiled on monday and it really creates a market upset. are you surprised at all that parliament rejected this depositor tax? >> not at all. i mean, when you -- >> it's crazy. >> it's more than that. i think there's something more being done here and said. not necessarily verbally, but if you look at, it started friday. effectively, the banks have been closed

. >>> and u.s. banks largely pass the fed stress test, excludeing a few firms that have failed to make the grade. >>> and straight ahead on the program, the bank of japan has a new man at the top. stay tuned to find out why and just what they might buy when we come back. zap technology. departure. hertz gold plus rewards also offers ereturn-- our fastest way to return your car. just note your mileage and zap ! you're outta there ! we'll e-mail your receipt in a flash, too. it's just another way you'll be traveling at the speed of hertz. tens of thousands of dollars in hidden fees on their 401(k)s?! go to e-trade and roll over your old 401(k)s to a new e-trade retirement account. none of them charge annual fees and all of them offer low cost investments. e-trade. less for us. more for you. and all of them offer low cost investments. all stations come over to mithis 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

in particular, does it have an impact on the u.s. banks? >> that's always the risk, right? nancial system is inherently a faith based system. so if people lose faith in that system, you're going to have runs on the bank. what people -- we can probably now talk about it now. there were runs on the banks in the u.s. in summer of '08. indy mac, wachovia, washington mutual. something like this really scary where you close down the system and everyone worries their deposits are at risk then the taxing issue is another issue. someone earlier on the program said the u.s. is a desirable safety and sound place to put money. you have to be bullish on u.s. equities here. because you have so much offshore money coming into the u.s. looking for some place safe and sound. >> there just aren't a lot of returns elsewhere from those companies that actually pay dividends. for so long we were talking about the regulatory environment in the united states. i mean, is that not an issue anymore? you have the london wale implications at jpmorgan. is that going to force vocal rules to actually get i

so far, though, with u.s. banks, it's been that they are able to close down the websites, but they don't is their big fat fingers in your checking accounts, say. is that going to change, phyllis? >> so the u.s. banks have been phenomenal. the financial sector is phenomenal because they collaborate exceptionally well. they share information about what they see because they always understood the threat because they protect money. what we need to do is get more information schairing at the cyber level and realtime level. what the adversary can't do, understand the health of the network at the speed of light like your body's immune system. when they share information, it protects companies. gerri: i was amazed at the people who do this, so russia, the attacks come from there. what's going on here? why are these the countries targeting us? >> understand their philosophy. those countries view philosophically that we in the west became rich because we stole it from them so they are not stealing from us in their mind set. t

definitely the fact that banks are stalling accounts are crashing and everything is going wrong for the u.s. banks is definitely affecting many many lives and now banks mostly private institutions what about if there is an attack like this on a government institution well this attack you were talking about earlier the biggest attack in history so far experts from the spamhaus organization said that if this attack was performed on the downing street in three ten service in the u.k. then there are websites would have been down in like a matter of seconds. cyber attacks have mostly been about online vandalism about spats between different groups take for instance the hacking of the cia web site by the anonymous hacker group it didn't kill people it didn't crash the organization it put the website down certainly damaged the reputation of the cia but no big damage financial damage or human damage was made or for instance the intercepted conference call between the scotland yard scotland yard and the f.b.i. by the same group anonymous also a huge blow to the reputation of both both by. yes you especiall

are now seeing the ten-year below 2% again. >> if we did see more fear out of europe, paul, what u.s. bank be the most to avoid? >> you know, it's going to be the bank of americas and the jpmorgans. it's going to be the big broker dealers that have a lot of relationships overseas. those are going to be the ones that are going to probably get shaken up the most. and right now they're also the ones that probably have been up the most over the last couple months. especially bank of america. >> of course, the next question is, which bank here in the united states is the least exposed to the problems in europe and the least likely to have any further fallout? >> well, you know, wells fargo. the regionals. pnc and usb also will benefit. not only that, with the 10-year remaining below 2% it's going to be good for mortgage banking. still a lot more refis. even though even some of these mortgage banks are down today, i think you're going to see if there's a flight to safety and if the 10-year goes down even more you'll see some of those mortgage banks rally, i believe. >> paul, you just heard kayla

a lot of people go from southern to northern european to u.s. banks. in terms of the sectors, a little more on the defensive side. consumer staples down the least of some of the major groups. >> kenney, come on in and join the group. bob mentioned the financials. what can happen in europe might eventually happen here in the united states. >> i don't suspect it really koul could happen but it gives investors an excuse to be cautious and take things off the table. we went right to the high and ran right into resistance. again, it gave people a chance to say let me take some money off the table and see where it goes. it's st end of the month. we will go into thursday with a little more to the upside but i don't think we're breaking any highs this week. >> if it really reflects european policy -- >> that's the big question. >> this is a victory for the moral hazard crowd. people claiming that endless bailouts are just wrong. but it introduces a whole new can f worms. >> it doesn't put the issue to sleep. only continues to bring it to the surface. >> what d

investors are analyzing what the u.s. banks have to say. they will maintain the current levels of economic stimulus. they will continue to support the gradual recovery in the economy until there's clear sign of improvement. the decision was made at a two-day policy meeting that ended on wednesday. they said the u.s. committee is growing moderately. they pointed to continued improvement in the housing market and a rise in household spending and corporate capital investment. the unemployment rate remains high at the upper 7% level. they warned against a fiscal policy stemming from mandatory stemming cuts. fed officials say the bank will continue to eject funds into the market giving these challenges. they are doing this by buying $85 billion worth of mortgage backed security and long term government bonds each month. they will maintain a near 0% interest rate policy. some federal reserve officials have expressed concern. that month of asset purchases could disrupt markets and bring about higher prices. in a news conference about the second da

the economy is sort of outsourced in a way towards the banks you know that's how tarp was originally run it was it wasn't that ok here we are u.s. government we have this these hundreds of billions of dollars we're going to save these banks we're going to save these banks for the purpose of we want the banks to put this money back into the economy to increase lending to businesses homeowners to get the economy rolling again but when they did it they didn't do it the way that you would think that you would if that was your goal would say ok banks j.p. morgan chase you know here's your twenty five billion dollars but when you use this you know you're going to agree that you're going to use it to increase lending and we're going to measure that or we're going to incentivize that or at least require it if not incentivize it and keep track of it like that's how you would think would be if the government was running the program but that's not what they did they gave us the facts no shrinks attached no conditions no requirements no incentives no transparency when i said hey hey guys why don't we make the banks tell us what they're doi

what the united states needs to do break up these institutions what do you think it will take for u.s. banks to face true justice or for the government to actually put the citizens for banks nothing's going to happen in the near term i think that's pretty clear the only way i think to break through and get the types of reform that we need will be one in the aftermath of another crisis which is you know which is which i think will be devastating and let's hope that that doesn't happen but most realistically that's probably the way we're secondly i think if there's another good big enough significant enough scandal and the one reliable things about the largest banks is that they are scandal producing machines it's again it's not surprising it's because of the incentives it's because of the lack of accountability or lack of punishment it's profitable to commit fraud or bend the rules or break the rules or take huge risks the differences between now and two thousand and eight is that there are a lot more people out there now politicians academics journalists who recognize that we have a broken s

an atm at the u.s. bank on burlingame avenue has been compromised with a card skimming device. the numbers on bank cards put into the atm were being swiped by thieves. several customer accounts were compromised so folks are being warned about this. >>> new at 11:00, a public discussion about what to do with yosemite. the meeting was held at fort mason tonight. national park service has coming up with a restoration plan to replace the park's aging infrastructure. swimming pools and ice rinks could be on the to be demolished list. steps are being proposed to deal with congestion in the park. >> we want to go yosemite to see the amazing half dome and amazing cliffs and see the water falls and wildflowers, you don't want to sit in a traffic jam. >> other changes in the merced river plan would get rid of bike and raft rentals. >> twitter is celebrating eighth 7th anniversary. >> it's undeniable that san francisco is part of our life. >> inside the market street headquarters. how this start-up grew so fast. also catch me in you can. how this imposture made it into a a cockpit of a u.s

financial institutions and to a lesser extent, the impact from cyprus and europe on the u.s. banks? u.s. institutions have come a long way. in the last four years. they've made tremendous progress. and we are long since out of the intensive care unit, and we're in most cases out of the hospital as well in terms of our banking system. and i think that's reflected in the results of the stress test. now, do we still have a lot of work to do or techniques of risk management and techniques of monitoring risk management all they should be? i don't think that we're there yet. do we have all banks well enough capitalized that one can confidently say that their borrowing is wholly on their own strength and not in part on some aura coming from the government? i think we've got some distance to go before we're already there. are there activities that are going on in banks that are probably riskier than should go on in systemically important financial institutions? yes. and that's something that we have to address. but if you ask the fundamental question, relative to a banking system that reall

given how much major u.s. bankprofits remain bound up with the value of their derivatives, derivative valuation that can't be trusted very serious threat to our economic stability. the wheel trays also demonstrate how easily a wall street bank can manipulate and avoid risk controls. the financial industry assures us he can prove they manage high risk it cavities because they are measured, monitored and limited. as the subcommittee reports in detail, jpmorgan executives ignore a series of alarms that went off as the bank's chief investment office breached one risk limit after another. rather than ratchet back the risk, jpmorgan personnel challenged and reengineered to this control to silence the alliance. it is difficult to imagine how the american people can trust major wall street banks to prudently manage derivatives risk when they personnel can readily cable or ignore the risk controls that are meant to prevent financial disaster in taxpayer bailout. the wheel trays also provide another of the major wall street

an atm at the u.s. bank on burlingame avenue has been compromised with a card skimming device. the numbers on bank cards put into the atm were being swiped by thieves. several customer accounts were compromised so folks are being warned about this. >>> new at 11:00, a public discussion about what to do with yosemite. the meeting was held at fort mason tonight. national park service has coming up with a restoration plan to replace the park's aging infrastructure. swimming pools and ice rinks could be on the to be demolished list. steps are being proposed to deal with congestion in the park. >> we want to go yosemite to see the amazing half dome and amazing cliffs and see the water falls and wildflowers, you don't want to sit in a traffic jam. >> other changes in the merced river plan would get rid of bike and raft rentals. >> twitter is celebrating eighth 7th anniversary. >> it's undeniable that san francisco is part of our life. >> inside the market street headquarters. how this start-up grew so fast. also catch me in you can. how this imposture made it into a a cockpit of a u.s

u.s. banking sector, to be as big, equivalent to the size of our gdp as cyprus' gdp we would need 45 more rgans in the united states. that's how big cyprus' banking sector is. so, what do we have here? this is from barclays. this is important. what it tells you is how much money has been needed to bailout the banking sectors of various countries based on the size of their gdp? this is cyprus. a country with about a million people. the biggest, 60% of gdp, and the reason part of that is in light pink is because the first time they're going after depositors. the dark pink has been official money, taxpayers from other parts of the european union. see how much smaller the bank bailouts have been in other parts of europe? this is why, tyler, they've been able to argue this is unique case, not a contagion. >> it's a banking haven and attracted all of those foreign deposits. and the other part is, capital, sovereign capital? >> german. yeah, that's the rest of the european union. the european union is going to give them $10 billion but they insisted is cypriots come up with $7 billion as well to

take a look at some of the u.s. banks. prettiey esiest interesting day shaping up. big gains at the top of the session. and the dutch finance minister made comments suggesting the cyprus bailout as it is known could essentially become a template for the eurozone as a whole and big losses for the yup peen banks. jpmorgan, some bank of americas were all up pretty handedly. they did get awfully close to the all-time closing high. as we look at them, you can see some of them have lost some ground. facebook, interesting story. six-month high in january. today facebook is at the lowest levels of the year. we just had a big conversation about the content, marketing space and the monetizatidaetiza thereof. finally, jcpenney did get a downgrade today to a sell, i believe, the worry watch continues over ron johnson's rein at that company. even retailers in general continue to to have a nice run of dollar general beating this morning as well. that stock was up 4% earlier in the session. for us, get down to swot wapner at the tavis cup as we start halftime here on cnbc. >>> all

an atm at the u.s. bank on burlingame avenue has been compromised with a card skimming device. e numbers on bank cards put into the atm were being swiped by thieves. several customer accounts were compromised so folks are being warned about this. >>> new at 11:00, a public discussion about what to do with yosemite. the meeting was held at fort mason tonight. national park service has coming up with a restoration plan to replace the park's aging infrastructure. swimming pools and ice rinks could be on the to be demolished list. steps are being proposed to deal with congestion in the park. >> we want to go yosemite to see the amazing half dome and amazing cliffs and see the water falls and wildflowers, you don't want to sit in a traffic jam. >> other changes in the merced river plan would get rid of bike and raft rentals. >> twitter is celebrating eighth 7th anniversary. >> it's undeniable that san francisco is part of our life. >> inside the market street headquarters. how this start-up grew so fast. also catch me in you can. how this imposture made it into a a cockpit of a u.s.

they found it at the u.s. bank branch. they believe one person's account has been compromised. it happened in january and february. >>> the city of owningland is gearing up for sunday's running -- oakland is gearing up for sunday's running festival. 9,000 people are expected to take part in the half marathon, 5k or the kids fun run. it helps the city's economy and it is good for the city's morale. >> across the country i have seen these marathons have an opportunity to bring the community together. >> after the races the public is invited to the celebration village for live music, food, drinks, games and an award ceremony. >>> a nice day today. temperatures warmed up. temperatures across the country that aren't warm. on the east coast. ohio valley tomorrow, in that area, flight delays. for us, winds, gale warming in effect till 3:00 tomorrow. wind gusts could get up over 40 miles per hour off shore. be prepared for gusty winds. especially north. these are the temperatures for right now. 66 in antioch. 66 in fairfield. we had upper 60s and low 70s today in the warmest spots. mos

the result--foreign investors earned more interest and left their money in u.s. banks. ended the gold drain. but raising thdiscount re had other, less fortunate, consequences. if the federal reserve raises the discount rate, that transmits a message to banks and the money market that it wants to be restrictive. for the economy as a whole, the result was disastrous. high interest rates discouraged borrowing, choking off business credit. more businesses failed, more jobs lost, and more banks collapsed. the country was pushed deeper into the great depression. well, professor, if you graded the fed-- a, b, c, d, f-- what would it be in the 1930s? i would grade it as an "f" applying today's standards. probably a "d," applying even the standards-- the most advanced standards of that day. sure, you can criticize the fed. it made mistakes. but what it did wrong was a matter of degree, mostly, rather than... total mistakes of policy. the men who met around this table were some of the country's most influential bankers. they were the federal reserve's board of directors. when the

overall the fed says u.s. banks have enough capital on hand to endure a severe economic downturn. >>> all right. if you're anything like me, you're sick and tired of hearing president obama and congress talk and talk and talk without walking the walk. the president made a gesture of sorts last night by sitting down and breaking bread with 12 republican senators. there are a lot of fiscal issues to take kel right now and here with a first-hand account what was accomplished at the dinner is senator pat toomey. welcome to the show. tell me what the tone was like at the dinner? >> the tone was very cordial. we had a wide-ranging covers. it was candid and there was a wide range of views but certainly it was very cordial and cooperative. melissa: so what do you mean it was candid? >> well there are areas we have pretty strong disent grews. i would say both sides have been disappointed by the other side in different ways. some of those things came out not in a harsh way but it candid way. melissa: do you think it was a pho

. >> rose: how much exposure to europe is there on the part of big u.s. banks? >> it's still, it's still not nothing. i mean, it's scaled back consider me from where it was three, four years ago. but all these banks do alot buness in rope i mean just on that side. and so -- >> rose: they've got the risk under control do you think. >> look, if italy goes under, if spain goes under, no. i think then we're going to have some problems. i don't want to suggest we don't have problems. if spain were to have a run run on the bank, you name your big u.s. bank. >> rose: it's less likely today. >> less likely today. but we're not out of the woods yet and that's why the story is important. >> rose: because you're not out of the woods. and this will think and cause people, it almost has to do with confidence. >> this whole business is a confidence business. that's all it is. we're all zipping from the same cup and the makes them nervous. >> rose: what do you think -- >> i think they've played an important role this all of these conversations perhaps by the way more so than th

but what people feel is oh, we have fdic insurance. $10 trillion worth of deposits in u.s. banks. the fdic has 25 billion, less than a quarter of a percent. so it would have to be massive funding from the central bank to protect the u.s. deposits. neil: thank you, john. much appreciated, sir. in the meantime, remember when rahm emanuel wanted to be mayor? he got his job. %-iron fist. with his famous so how is that so many chicago people are responding? it is suddenly not a pretty windy city. and be more afraid of government. th neil: here is what happens when the government gives you everything you want. it wakes up one morning and said, do you know what? we cannot afford any of it. chicago and the latest spending city. it has rahm emanuel in a heck of a jam. he is closing more than 50 schools to take cash and now the teachers union that helped make him the mayor is right now. detroit had to bring in outside supervisor in. when good intentions go very bad. >> that is right. they are making the right move to merge these failing schools in places like chicago and detroit. they have a

given how much major u.s. bank profits remain bound up the value of their derivatives, derivatives valuation can't be trusted and are a serious threat to our economic stability. the whale trades also demonstrate how easily a wall street bank can manipulate and avoid risk control. the financial industry assures us that it can prudently manage high-risk at to these because they are measured monitored and limited. but as the subcommittee report demonstrates in detail, jpmorgan executives ignored a series of alarms that went off and the bank's chief investment office breached one risk limit after another. rather than ratchet back the risk, jpmorgan personnel challenged and reengineered the risk controls to silence the alliance. it is difficult to imagine how the american people can trust major wall street banks to prudently manage derivatives risk when bank personnel can readily gain or at north the risk controls that are meant to prevent financial disaster and taxpayer bailouts. the whale trades provide another exampl

employee at the u.s. bank 72 i branch recognized the man when he walked in this afternoon. he's suspected of robbing the same fwlavrj february. police arrested him in his car on highway 101 shortly after he left the bank. gentleman new at 11. violent head on collision in richmond tonight sent 7 people to the hospital. one in grave condition. it happened around 8:00 o'clock on 37th street. camaro crashed head on into a pickup truck flipping the truck over. police say at least one driver was speeding. female was ejected from the sports car. she is clinging to life this evening. one of the 3 people in the pick up is in critical condition. >> more traffic problems tonight on the stretch of i 80 closed for most of the day because of this fatal truck accident. 2 west bond lanes uc daves closed right now. cal-trans it repairing the khrd roadway and broken median. big rig driver passed out and veered across the freeway into the the path of bmw. driver passenger of that car both died at the scene. ñr big rig driver could face charges for distracted driving. he choked while eating a s

u.s. banking websites since september. the hacker group claiming responsibility says it also plans to attack citibank, chase and others. >>> a judge is getting ready to approve plans for a merger between two major airlines. plus the dow sets another report. courtney reagan live at cnbc headquarters with all your details. a lot going on. good morning, courtney. >> that's right, marla. good morning to you. futures are lower. that is after stocks rallied on the back of some positive economic data yesterday. that means the dow pushed to a new all-time closing high. the index is on track for its best quarterly point gain ever, and could still post its best percentage quarterly gain in three years. pending home sales, dow rising nearly 112 points to 14,559. nasdaq adding 17 to 3252. >>> bankruptcy judge could approve american airlines plan to merge with us airways, creating the world's largest airline. the judge could also give american more time to come up with a reorganization plan. the $11 billion merger must still be approve

but what people feel is oh, we have fdic insurance. $10 trillion worth of deposits in u.s. banks. the fdic has 2billio, less than a quarter of a percent. so it would have to be massive funding from the central bank to protect the u.s. deposits. neil: thank you, john. much appreciated, sir. in the meantime, remember when rahm emanuel wanted to be mayor? he got his job. %-iron fist.ng with his famous so how is that so many chicago people are responding? it is suddenly not a pretty windy city. and be more afraid of government. th [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutetes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. from the united states poal service a small jam maker can ship like a big business. just go online to pay, print and have your packages picked up for free. we'll do the rest. ♪ neil: here is what happens when the government gives you everything you want. it wakes up one morning and said, do you know what? we cannot afford any of it. chicago and the latest spending

employee at the u.s. bank 72 i branch recognized the man when he walked in this afternoon. he's suspected of robbing the same fwlavrj february. police arrested him in his car on highway 101 shortly after he left the bank. gentleman new at 11. violent head on collision in richmond tonight sent 7 people to the hospital. one in grave condition. it happened around 8:00 o'clock on 37th street. camaro crashed head on into a pickup truck flipping the truck over. police say at least one driver was speeding. female was ejected from the sports car. she is clinging to life this evening. one of the 3 people in the pick up is in critical condition. >> more traffic problems tonight on the stretch of i 80 closed for most of the day because of this fatal truck accident. 2 west bond lanes daves closed right now. cal-trans it repairing the khrd roadway and broken median. big rig driver passed out and veered across the freeway into the the path of bmw. driver passenger of that car both died at the scene. ñr big rig driver could face charges for distracted driving. he choked while eating a sand

one of those u.s. banks failed. that was allied. this was the former finance arm of general motors. overall the stress test really concluded there's been an improvement in the quality in capital the banks have been raising. so basically we looked at just how much capital there would be on the balance sheet if there was going to be another crisis that hit the u.s. like in 2008. and it saw there would be about 7.7% capital abregat across the banking sector which was higher than 5% minimum threshold there is for the industry as regulation states. in terms of the stress testing criteria, this basically looked at a 50% plunge in equity prices. don't forget we've doubled off the lows we had at the very trough of the crisis. a fall of housing prices by about 20%. and also an escalation in the unemployment rate of about 12.1% which is 4% higher than we're sitting today. don't forget we'll get a good look at the state of the economy today with the nonfarm payrolls coming out. 160,000 jobs expected to be added to the economy. very important for the dow which has been the focus of international

but what people feel is oh, we have fdic insurance. $10 trillion worth of deposits in u.s. banks. the fdic has 25 billion, less than a quarter of a percent. so it would have to be massive funding from the central bank to protect the u.s. deposits. neil: thank you, john. much appreciated, sir. in the meantime, remember when rahm emanuel wanted to be mayor? he got his job. %-iron fist. with his famous so how is that so many chicago people are responding? it is suddenly not a pretty windy city. and be more afraid of government. that is coming up look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copsymptoms by keeping my airways openor 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-ting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may

. >>> the second report card on the health of u.s. banks came out late today with mixed results. the federal reserve rejected the capital plans from bb&t bank and allied financial which was the only bank to fail the original test that came out last week. goldman sachs and jpmorgan got only conditional approvals and were told to revise their plans by the third quarter. the fed approved the plans from the nation's other 14 banks for dividends and their share repurchases, but american express will have to submit an adjusted capital plan after the feds said its proposal would have eroded its capital position too much. now, the central bank said the so-called stress tests show that overall american banks have sufficient reserves to withstand another severe economic downturn. tyler? >>> analysts sent two major to come stecks in opposite direction today. that tops our market focus. amazon dropping as jpmorgan lowers it because of gross margin profit returns. and amazon closed off more than 3% at 265 and change. >>> meanwhile, apple was up on the day. its competitor, samsung, reveals a n

u.s. bank stocks, okay? kbw bank index is actually up 4% this month even while the european banks have gone through the difficulty of the transition from a taxpayer bailout to an investor bail-in. it's a good policy and europe ought to stick with it and their banks can recover, too. let me switch gears back to the usa. a massive revival of the american railroad industry, right? terrific stuff. it's related to our energy boom as well as other sectors. these guys have built in rail yards and they're refueling stations, tracks, tunnels and terminals and page one story in today's "wall street journal" and you have a good rise in business investment and home prices seeing their biggest yearly gains and tax refund checks coming in and i think our economy is stronger than folks think. that's my two cents and let's see if my guests remotely agree with me. we welcome back jeff kleintop. i see optimism out there. >> i don't think this bull market's over, but i think it is overdue for a pause. none of the things you men

but what people feel is oh, we have fdic insurance. 0 trillion worth of deposits in u.s. banks. the fdic has 25 billion, less than a quarter of a percent. so it would have to be massive funding from the central bank to protect the u.s. deposits. neil: thank you, john. much appreciated, sir. in the meantime, remember when rahm emanuel wanted to be mayor? he got his job. %-iron fist. with his famous so how is that so many chicago people are responding? it is suddenly not a pretty windy city. and be more afraid of government. th thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. becau

buwhat people feel s oh, we have fdic insurance. $10 trillion worth of deposits in u.s. banks. has 25 billion, less than a quarter of a percent. so it would have to be massive funding from the central bank to protect the u.s. deposits. neil: thank you, john. much appreciated, sir. in the meantime, remember when rahm emanuel wanted to be mayor? he got his job. %-iron fist. with his famous so how is that so many chicago people are responding? it is suddenly not a pretty windy city. and be more afraid of government. government. th [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. given way to sleeping. tossing and turning have where sleepless nights yield to restful sleep, and lunesta eszopiclone can help you get there, like it has for so many peo

but what eople feel is oh, we have fdic insurance. $10 trillion worth of deposits in u.s. banks. the fdic has 25 billion, less than a quarter of a percent. so it would have to be massive funding from the ctral bank to protect the u.s. deposits. neil: thank you, john. much appreciated, sir. in the meanime, remember when rahm emanuel wanted to be mayor? he got his job. %-iron fist. with his famous so how is that so many chicago people are responding? it is suddenly not a pretty windy city. and be more afraid of government. th my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quic

u.s. banks it's not directly killing people it's not causing any huge damage but certainly people are being affected by what is already described as the longest standing cyber attack on the industrial sector bank loans are being frozen and accounts are being counseled so definitely this is a huge damage to the general population and what specific damage you think you could have according to the latest reports on governmental institutions well this latest attack would you just mentioned experts said that if this attack was carried out on downing street ten the u.k. government's websites would have been down in the matter of seconds so this is how serious it is. mostly cyber attacks have been about vandalism about asserting themselves on the web for instance the attack by the anonymous hacker group on the cia website it didn't cause any huge damage didn't kill anyone but definitely the reputation of the intelligence agency was seriously undermined by that attack or say the. the talk of a conversat

the largest u.s. banks today are deep into derivatives, which are complex financial estrogens that derive their value from other assets. the derivatives behind the jpmorgan whale trades or part of the so-called synthetic credit for folio, sometimes called an sep. outsizedially made bets on whether a particular financial estimate or entities were creditworthy or would default during its us five times. the bets were made by traders in the london office of the u.s. banking giant tp morgan chase. bets,trade, meaning there grew so large that they roiled ,he $27 trillion credit market single-handedly affecting global prices and finally attracted a media storm aimed at finding out who was behind them. the media unmasked jpmorgan's chief investment office which had been known for making conservative investments with and composites. at first, jpmorgan ceo jamie diamond claimed that the reports were a tempest in a teapot. but then he admitted the truth, but that their credit derivatives had gone south, losses that ex

major cyber attacks against u.s. banksweekend and every american who banks on mine, watch this. project a blitzkrieg is on the way we have details next how to protect yourself it is about protecting your money. ♪ adam: the cyber attacks years in the making could be as early as this weekend in this time you are the target it cons then on average everyday consumer bank accounts 35 institutions across the country are targets. joining us now is the mcafee researcher who discovere project blitzkrieg and we interviewed you one month ago and it is good to see you again. where do we stand? >> i am glad to be here. project blitzkrieg is on its way. rehab not seen any recent activity but he has gone underground and it is possible. adam: day hacker is russian who promises to do this and from your research she already succeeded getting $5 million out of bank accounts? >> correct. this individual has been suessful in the past. not he could not be successful again that with all of publicity with the last interview and the papers, he did

what the united states needs to do break up these institutions what do you think it will take for u.s. banksto face true justice or for the government to actually put the citizens for banks nothing's going to happen in the near term i think that's pretty clear the only way i think to break through and get the types of reform that we need will be one in the aftermath of another crisis which is you know which is which i think will be devastating and let's hope that that doesn't happen but most realistically that's probably the way we're secondly i think if there's another good big enough significant enough scandal in the one reliable things about the largest banks is that they are scandal producing machines it's again it's not surprising it's because of the incentives it's because of the lack of accountability or lack of punishment it's profitable to commit fraud or bend the rules or break the rules or take huge risks the differences between now and two thousand and eight is that there are a lot more people out there now politicians academics journalists who recognize that we have a broken sys

major cyber attacks against u.s. banksand every american who banks on mine, watch this. project a blitzkrieg is on the way we have details next how to protect yourself it is about protecting your money. ♪ because only national lets you choose any car in the aisle. and go. u can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea anand make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone