to breaking the cycle of us banks saying never again you're a disgrace we'll be i'd like to talk about the surveillance. the engine. block. is easy. to. see. wealthy british style. but on the tirelessly. markets why not canada. find out what's really happening to the global economy with max conjure for a no holds barred look at the global financial headlines tune in to kaiser report on our. i thank. god. i was that high you and me are in big trouble was round jamila run was run i led as i started working in israel when i was twenty seven. and i'm sixty days and. i live we're surrounded by fences and you can't live without working. live in order to work you need a permit. hasn't really had to go in this way. because people come in this way. how can we get out. of the city you get a permit you need in this really good renter to sign for you the city was unable is willing to sign for us with the city. of clinics i walked in israel before they go to security and it's. good enough or could do a better world but it has been me. yeah and much i used to work with the people who treated me with

maybe right against this right us banks saying there again we're in a situation where being i don't agree to talk about the surveillance.

us. >> bank clerks also joined the walk off. so did the owners of small stores. still, the indian government is not backing down. >> we employ the leaders not to go on strike. we will consider their demands as the financial situation improves. >> for some, that is not good enough. in delhi, riots broke out in an industrial neighborhood. strikers smashed factory windows, and when unionist died on the picket line. >> in germany, chancellor angela merkel has praised the european union's hard-fought budget for the next seven years. she told parliament the proposals agreed in brussels earlier this month were the best way to ensure economic stability in europe. >> the budget includes some spending cuts for the first time. critics say it does not focus enough on boosting jobs and growth. >> angela merkel says all eu member states must cut costs. two weeks ago, the chancellor and british prime minister david cameron went out in brussels securing an eu budget cut of around 3%. now merkel has defended that decision. she says the crisis means everyone has to save. >> i will

shortly, he pointed out to me, it was established five years ago and it is worth remembering that food bank use went up 10 times under the last labour government. but i think instead of criticizing people who run food banks we should be thanking them for the work they do. >> thank you, mr. speaker. i'm sure the prime minister will join me in thank you to all those who work in the rescue service. can ask the prime minister intervened personally in our battle to save the rescue helicopter and ask his minister to come down to listen to those who work in this life saving service, before it is cut? repeated requests so far have been ignored, and i think would be at least courteous and wise. >> well, i know that the transport, former sector estate and other ministers have met with my honorable friend giunta they would've listened very carefully to what he said. as those paying tribute to the coast guard. it's a good opportunity for tribute to the search and rescue services across the country. our reforms are aimed to prove average response time by 20%. that is why we're going ahead with these reforms

he pointed out to me it was established five years ago and it is worth remembering that food bank use went up 10 times under the last labor government. but i think instead of criticizing people who run food banks, we should be thanking them for the work they do. >> richard drax? >> thank you, mr. speaker. i'm sure the prime minister will join me in praising all those who work in the search and rescue service. can i ask the prime minister to intervene personally in our battle to save the poor search and rescue helicopter and ask his ministers to come down to dorsett to listen to those who work in the lifesaving service before it is cut. repeated requests so far have been ignored and a visit would be at the least, courteous and wise. >> but i know that my -- the transport -- the former transport secretary of state and other ministers of the department have met with my honorable friend and i'm sure would have listened carefully to what he said as well as paying tribute to the coast guard and it's a good opportunity to pay tribute to the search and rescue services across the country. our

. >> we will also have the latest news from germany's second- largest bank which is -- guess what -- still in trouble. stay with us. >> welcome back. it is a big bank in peril -- germany's number two, commerzbank, was hit hard in the financial crisis. >> and to get a huge government bailout and it is still struggling. >> adjust reported -- it just reported losses. the banks as its restructuring plan will help it get back on track, but the ceo admits there is still a long way to go -- the bank says its restructuring plan will help it get back on track. >> these are difficult times for commerzbank. there's a plan to get its back on its feet, but it is an expensive one. retail banking will bear the brunt of its loss this quarter. >> unfortunately, the circumstances speak for themselves. for one, there are long-term changes to the market, particularly low interest rates. and the customer behavior has changed. there are fewer stock transactions, and more people use online banking services. >> commerzbank did see good business last year in loans to mid-size companies, but even as profits are expected to slow. blessing p

. >> we will also have the latest news from germany's second- largest bank which is -- guess what -- still in trouble. stay with us. >> welcome back. it is a big bank in peril -- germany's number two, commerzbank, was hit hard in the financial crisis. >> and to get a huge government bailout and it is still struggling. >> adjust reported -- it just reported losses. the banks as its restructuring plan will help it get back on track, but the ceo admits there is still a long way to go -- the bank says its restructuring plan will help it get back on track. >> these are difficult times for commerzbank. there's a plan to get its back on its feet, but it is an expensive one. retail banking will bear the brunt of its loss this quarter. >> unfortunately, the circumstances speak for themselves. for one, there are long-term changes to the market, particularly low interest rates. and the customer behavior has changed. there are fewer stock transactions, and more people use online banking services. >> commerzbank did see good business last year in loans to mid-size companies, but even as profits are expected to slow. blessing p

thirty five years that's right with us banks saying never again we're in a situation where being i'd like to talk about the surveillance. agoa. what a lot. to do if you just received anything like the tax. cut . back in two thousand and eight the us government rescued to be biggest financial institutions by granting them the largest bailout and history at a cost of seven hundred billion dollars in taxpayer money and despite having record losses the companies that were the largest recipients of government money paid out bonuses of at least one million dollars to their executives regardless of this act of contempt the bailouts encouraged the already too big to fail banks to take a wild or and bigger risk since profits would be privatized and losses socialized if any one of us practiced such recklessness would be in jail in a heartbeat but to this day not one person from any financial institution has ever been prosecuted or even brought to trial for contributing to the mess we're in today the question that's been on everyone's mind for the last five years and finally it was addressed by

bank the c.e.o.'s just collect the fees and if there's a problem they threaten the government either bail us out or will crash the economy . and note that this started in august two thousand and eight the crisis was already well underway you would have thought that you know these banks would have been bend a little bit more responsible and this is even a regional bank that they said are even more responsible than this too big to fail banks well having a year to that is being viewed by a million times this is no more or less collateral than let's say goldman sachs or j.p. morgan when they go to the market to sell some of their own bonds short term bonds to refinance their banks i say what's the collateral that you're putting up well look at our balance sheet ok we will know you have a negative equity of five hundred to six hundred billion dollars ok yeah and that's why we want to sell some more bonds of the marketplace putting up as collateral negative equity to sustain to finance this loan so this gentleman rob university is no less no more solvent or insolvent then the four big banks in the u.k. or the

some of us fold those bank statements up and hope everything is okay. >> yeah. >> thank you, liz. >>>ve some snow moving in in the next few hours. >> yes, we do. doug is tracking it on the radar for us. >> and we saw this last week a numbs, about three different times, and that's exactly what we'll see this time, too. 36 degrees the current number, winds out of the south-southwest. that puts or windchill at about 30. we're still see breaks in the cloez, so not expecting to see that snow move in anytime soon. it's cold enough for snow. it does look like it's coming down good around winchester, but no snow. it's not yet reaching the ground. we're not going to be seeing this make its way in. it's going to be this, back toward the west. and right now we're thinking about a dusting, maybe an inch. that will be about it. an inch is way up there, though. as you gelt far to the north and west, could be more here, maybe 1 to 2, around winchester, that's the area that right now is under a winter weather advisories until 6:00ally tomorrow morning. i do not expect to see any kind of delays tomorr

attention to order -- the honorable hillary clinton is recognized for distinguished public service as us bankecretary of state from january 2009 to february 2013. she played an indispensable role in formulating and with great success implementing the national security foreign and development policies in an era of dynamic shifts and global affairs, a smart power approach. she led efforts in alliances and engaged emerging powers and develop new partnerships to advance american interest on security, and values. her sound counsel and steady hand guided the united states response to the global economic crisis. and the ever world and new opportunities and challenges in asia. she provided leadership in iraq and afghanistan during a security transition in those countries. her transformative leadership elevated the role as able partners for addressing the growing spectrum of security challenges and forge a strong relationship with the department of defense. her accomplishments reflect great art upon herself, the department of state, and the united states government. [applause] >> coats thank you, secr

bank the c.e.o.'s just collect the fees and if there's a problem they threaten the government either bail us out or will crash the economy . and know that this started in august two thousand and eight the crisis was already well underway you would have thought that you know these banks would have been bend a little bit more responsible and this is even a regional bank that they said are even more responsible than this too big to fail banks right well having a year that is being viewed by a million times this is no more or less collateral than let's say goldman sachs or j.p. morgan when they go to the market to sell some of their own bonds short term bonds to refinance their banks i say what's the collateral that you're putting up well look at our balance sheet ok we will know you have a negative equity of five hundred to six hundred billion dollars ok yeah and that's why we want to sell some more bonds of the marketplace putting up as collateral negative equity to sustain to finance this loan so this gentleman rob university is no less no more solvent or insolvent then the four big banks in the u.k. or

bank the c.e.o.'s just collect the fees and if there's a problem they threaten the government either bail us out or will crash the economy . and note that this started in august two thousand and eight the crisis was already well underway you would have thought that you know these banks would have been bend a little bit more responsible and this is even a regional bank that they said are even more responsible than this too big to fail banks well having a year to that is being viewed by a million times this is no more or less collateral than let's say goldman sachs or j.p. morgan when they go to the market to sell some of their own bonds short term bonds to refinance their banks i say what's the collateral that you're putting up well look at a balance sheet ok we will show you have a negative equity of five hundred to six hundred billion dollars ok yeah and that's why we want to sell some more bonds of the marketplace putting up as collateral negative equity to sustain to finance this loan so this gentleman rob university is no less no more solvent or insolvent then the four big banks in the u.k. or the b

. >> is a us bank goal to keep special operations forces? >> i do not have the precise answer there. i would wait until the joint, schempp -- joint commission concludes its work. special operations in afghanistan have been important. we will let the joint commission do its work to address these concerns. >> one karzai posterity or -- karzai sees this operation and most outs, does isaf come why? >> we have to let the process work in cobble. it has not begun. we are working with afghans to understand the concerns and to arrive at a way ahead. >> do you have an update on the ground agave of 35? is there any investigation on that? >> i do not have a timeline. on friday, we announced that the f 35 fleet has been grounded. it is because of deflect and a one plane and the engine blade. -- a defect was found in a blade of an inch -- plane engine blade. is this a design error or flaw that may affect other aircraft in the fleet. that is what we are examining. we are committed to fixing this problem and to the f 35 program. it is important to our abili

do i believe that a big banquet of citigroup or jpmorgan is necessarily using those funds -- bank like citigroup or jpmorgan is using those funds recklessly? i do not think so. but are they proprietary trading? yes. that was the example of the london whale. i would hope that the system and the stock market become more transparent. investors do not feel the need to put their money into savings accounts but in vast. because that has helped the market grow. >> you mentioned a number of banks that have behaved rather badly. what are the banks that have behaved well? that have been more profitable than the banks that paved badly? if not, you have a reversal. >> look at the canadian banks. just as an example. they did not have a unending leverage. they did not get the same complex products. they weathered the financial crisis just fine. i would say in the us, you look at banks like wells fargo that did not have a similar ratcheting up of risk and the fiduciary responsibility, look at the more boutique asset management places whose interests were not all over the place and did not have all so

individual or corporate or banking sector we all do behave in this way we're putting like earphones on and sitting up in a fabricated control tower and that is supposed to make us wealthy whether we're participating in a housing bubble or printing at the central bank or transacting member for the banking sector they think that just transacting because. there were a lot of transaction when there was a lot of real deals and business and things happening closer they would come out carney is testifying in the treasury select committee here in the u.k. recently and they asked him what about this economy how do we get things going and like a part of a cold cargo cult you know put on the coconut ads and he started making gestures like bringing in the cargo planes and doing incantations like a witch doctor and of course the people who were asking questions were like that's fantastic when we get the stuff when we get the goods and he kept mimicking these arcane a symbolic gestures that are actually not tied to anything having to do with the real economy and here we have a headline from lord adair turner who is the outgoing head of the financial services authority so her

us. (applause) >> bonnie banks. bonnie banks. my definition of noise is uncontrolled music. without format. pretty simple affair. pancakes, and you're -- people get up on sundays around noon, weekends or whatever. should not be too hard to walk into place. have your audio alarm clock go off for two hours waking your up while you are eating breakfast with many interesting visuals once in a while. improvisation. listening or not to the person you're playing up against or people or machines. trying to get as many different people in as possible. different genres, experimental noise, electronics, dissonance some drums.a tiny bit of ambient -- the first noise pancake shows, 1999, the first waffle noise, 2001. god-waffle noise, noise pancake came out of cubist art, place on mission street, brutallo, where the church -- opened up his house and saturday morning cartoons. a big space. you can have everybody set up and barely move equipment around; small room for an audience to move around, walkover and get pancakes without getting burned up in the kitchen. there's like people in thei

joining us, the head of equity and quantitative strategy at bank of america.od to see you. key to this whole thesis, sell side indicator. basically, right now, it's had its fifth straight or fifth time it's gained in the past six months. what does that mean? >> what this means is that strategists are get a little bit more optimistic on equities. but i still think that the tenor is very bearish. so what we look at is just the average equity allocation that strategists are recommending on wall street. we found this is actually, sadly, a rereliable contrary indicator for what you should do with your money. but the idea is that when everybody is saying buy equities, chances are all that good news is probably priced into the market, and the market is likely to disappoint. today i would say the strategists are still fairly luke warm, and, in fact, quite negative on equities. the average allocation to equities that's recommended is sub 50%. so strategists are really recommending an underweight in equities and slight overweight in bonds and cash which i think still su

striking out against wild wes culture from which all banks have come under fire for regulators. >> i think this is true of the industry, also true of us. i think banks became too short sighted, too aggressive and too self-serving. >> when asked today, jenkins said managing ethically is the best defense against regulators trying to break up investment banks from retail banks, especially now thatclays investment bank makes up 60% of its profits. ironically or not, biggest contributor, acquisition of lehman brothers, not existing european. >> that isn't the end of the story, is it? a move in the uk to break investment banks away from their retail operations. clearly he hopes he can do enough to prevent that from happening further down the line. >> that's exactly right, simon. he got a question whether in five year's time there would be a move for the investment banks, even if you don't set up a separate shareholdering structure, you have separate boards, all intents and purposes separate companies that operate within the same structure. he thinks for the near term, that's not an option they will have to be embarking on. >> kayla, thank y

individual or corporate or banking sector we all do behave in this way we're putting like coke and earphones on and sitting up in a fabricated control tower and that is supposed to make us wealthy whether we're participating in a housing bubble or printing at the central bank or transacting member for the banking sector they think that just transacting because. there were a lot of transaction when there was a lot of real deals and business and things happening closer they would come out carney is testifying in the treasury select committee here in the u.k. recently and they asked him what about this economy how do we get things going and like a part of a cold cargo cult you know put on the go get it and he started making gestures like bringing in the cargo planes and doing incantations like a witch doctor and of course the people who are asking questions are like that's fantastic when we get the stuff when we get the goods and he kept mimicking these arcane a symbolic gestures that are actually not tied to anything having to do with the real economy and here we have a headline from lord adair turner who is the outgoing head of the financial services authority so here is

own budget, if my own home budget had 22% less funding, less available resource and i've been using my banknt, i would have to start making some decisions. alum rock is at the point where we have to look at our budget and make hard decisions about where we're going to spend our money in order to correct for the deficiencies in state funding that had occurred for the last seven or eight years. the economy is getting better. that's a good hopeful sign. prop 30 did pass. the public should be aware of this, prop 30 didn't provide any new money to schools. it only protected against further cuts. am i happy we didn't have to cutmore? absolutely. it's not providing new money for us. we have to look at that in the next several months. we're putting together a fiscal recovery plan that will help us erase the deficit spending we have been engaged in. >> if you need ideas where to spend that money we will give you a list. >> got you on speed dial. >> amazing test scores. they have done wonderful things there. thanks to everybody from top to bottom. students, teachers and administration, everybody ther

individual or corporate or banking sector we all do behave in this way we're putting like coke and earphones on and sitting up in a fabricated control tower and that is supposed to make us wealthy whether we're participating in a housing bubble or printing at the central bank or transacting member for the banking sector they think that just transacting because. there were a lot of transaction when there was a lot of real deals and business and things happening closer they would come out carney is testifying in the treasury select committee here in the u.k. recently and they asked him what about this economy how do we get things going and like a part of a coal cargo cult you put on the coconut ads and he started making gestures like bringing in the cargo planes and doing incantations like a witch doctor and of course the people who are asking questions are like that's fantastic when we get the stuff when we get the goods and he kept mimicking these arcane symbolic gestures that are actually not tied to anything having to do with the real economy and here we have a headline from lord adair turner who is the outgoing head of the financial services authority so here's one h

talk a little bit about if the us bank is afraid of continuing -- u.s. is afraid of -- if there is a chance to help reshape the region? is this a failed experiment that we will continue to get bogged down in. >> i don't know if i am going to answer that question. i am more interested, if i can -- yes, we do not have a policy toward the middle east that it think is coherent. i do not consider the rise of the muslim brotherhood to mark the death of democracy in egypt. it depends how they behave. our policy, i agree with the ministration in this respect, has been to treat egypt and the elected government of egypt as the elected government of egypt. let me say something about democracy. we have to be clear about who is suffering from the sin of omniscience. you seem to know who is capable of democracy and who is not. we have been hearing about this for decades. tell it to the indians, what per capita income you have to have in order to be able to have a democracy. i have been hearing for decades that asians, for a variety of reasons, or not capable of democr

we were talking moments ago with the chairman of the intelligence community, and he was telling us banks, for example, are hacked or attempts to hack them happen 300,000 times a day. it seems to me that nothing is growing as fast as data. we all know that. data has to be organized, secured. how big of an issue is this from your standpoint in terms of security of information, john? >> it's huge, maria, and if i may draw a parallel. we're winning most new opportunities for something they call the smart grid. it's really how you will put electricity moving over the internet, and today there are 360 different protocols out there which means no one spends a lot of time trying to hack it. as you move to ip, security becomes one of the issues. otherwise could you turn off the lights. if we execute right, we can put security from the cloud to every element of the network to every device so it's a very big issue. one that if we execute right over the next two to three years should be a very good growth market for us as well. >> real quick, john. what kind of a 2013 are you expecting? >> i think w

individual or corporate or banking sector we all do behave in this way we're putting like earphones on and sitting up in a fabricated control tower and that is supposed to make us wealthy whether we're participating in a housing bubble or printing at the central bank or transacting member for the banking sector they think that just transacting because. there were a lot of transaction when there was a lot of real deals and business and things happening closer they would come out carney is testifying in the treasury select committee here in the u.k. recently and they asked him what about this economy how do we get things going and like a part of a coal cargo cult you put on the coconut eggs and he started making gestures like bringing in the cargo planes and doing incantations like a witch doctor and of course the people who are asking questions are like that's fantastic when we get the stuff when we get the goods and he kept mimicking these arcane a symbolic gestures that are actually not tied to anything having to do with the real economy and here we have a headline from lord adair turner who is the outgoing head of the financial services authority so here's on

individual or corporate or banking sector we all do behave in this way we're putting like coke and earphones on and sitting up in a fabricated control tower and that is supposed to make us wealthy whether we're participating in a housing bubble or printing at the central bank or transacting member for the banking sector they think that just transacting because. there were a lot of transaction when there was a lot of real deals and business and things happening closer they would come out carney is testifying in the treasury select committee here in the u.k. recently and they asked him what about this economy how do we get things going and like a part of a coal cargo cult you know put on the coconut ads and he started making gestures like bringing in the cargo planes and doing incantations like a witch doctor and of course the people who were asking questions were like that's fantastic when we get the stuff when we get the goods and he kept mimicking these arcane symbolic gestures that are actually not tied to anything having to do with the real economy and here we have a headline from lord adair turner who is the outgoing head of the financial services authority so here'

bank's reputation came to a new all-time low. libor or the london interbank offered rate is a key interest rate used all over the world, and it can affect major investments, derivatives, and/or mortgages. here is how it is set -- a pool of banks based in london tell the british bankers' association how much they paid to borrow money from other banks for certain periods of time, such as overnight or for three months. the bba collets the submissions, strips at the highest and lowest numbers and reaches an average figure for that day which is published. the scandal developed when it emerged that some banks tried to move the rate up or down to make a profit. traders would call up colleagues to submit their rates to the bba and urge them to submit an inaccurate made on behalf of the bank in order to skew the average figure in the preferred direction. if you shake 0.1% of the interest rate on a 1 billion pound bond, it could be worth 1 million pounds to someone. that is what was unearthed by british and american regulators last summer. initially at barclays but subsequently at swiss bank ubs, and now the tax payer controlled are bs. it

us, deepening relationships with the customers. we understand that our customers voted with their feet to do banking with us, and so being able to offerhem the other products i mentioned, mortgage banking, investments, those things, if we can deepen the relationship by creating a great customer experience, that's something we want to do, and if customers like us, they want to do more business with us. >> getting all the business is part of the push behind opening the branches. >> absolutely. >> so a lot of the focus in terms of expandingfuls -- expanding was through california and florida. now it seems like there's other directions. what's the target right now in terms of reach in markets that you want to penetrate? >> as you mentioned, california and florida are great growth markets for us. sthail continue to -- they'll continue to be that for us. we'll look at the other states we have. we're in 21 states across the country. we'll infill in those places where we think we can really grow the business and other customers. >> what's the mood like when you are here? whether it's customers or your tellers? i mean, how to people feel about