and friend or foe wells fargo is a bank the bank is trying to woo the latino community but in a new report it looks like the bank offers efforts to invest in the prison system as well which has an interest in locking up latinos here in the u.s. illegally r t dives into the issue in just a minute. it's friday november second i'm meghan lopez in washington d.c. and you're watching r.t. . all right well election day is just four days away and the anticipation for the moment is hanging in the air in a short time the power will shift away from the hands of the government and back into the hands of the people where they will decide once and for all which direction they want this country to head already people are casting early voting ballots president obama of course made election history by being the first president to cast an early vote. but rampant allegations over voter fraud and voter suppression have cast a shadow of doubt over the fairness of this election as a result the u.n. affiliated group of international auditors called the organization for security and cooperation in europe has sen

directed at wells fargo they kept saying that their policies or that you know our protests should be directed at the federal government and the immigration authorities well then don't take a stance on dividing immigrants into two categories that's number one and number two it is absolutely a farce that they are really making that distinction because they're taking money from undocumented immigrants as well as some documented immigrants you know when you send money back home you don't actually need to prove or show anything new you can just be an immigrant here to use their services and send money back home but like you would with western union they care about profits that's the bottom line it is about profit is not about immigration policy and so what we need to do is tell been that bad frost that comes with the prize and that prize is the latino community support. but i just ask you once again from a purely business standpoint i spent a community is a second fastest growing asian americans just overtook them this year so there's money to be made in appealing to that community and the

it does make sense and here's why first because it is a strong message that we need to send to wells fargo that well these services would promote a better understanding of how latinos are using the banking services you can do that and at the same time use the profit for the different modes you can do that in the same time that the other and incarcerate immigrants and basically also with lending practices for example we just see in the lawsuit in new york that they are being sued for mortgage fraud you can't really as a company expect that the latino community is going to be by your side and offer supposedly beneficial services like might think what i was which are i g.'s or consul area that they can show to you know to particularly open a bank account or to send money back home. and then the same time know that you are profiting from the mystery that comes with the incarceration and the separation of families in private prisons but actual i do have to push back just a little bit and we don't want to play devil's advocate here for just a second and ask you it kind of sounds to me like what

next is marked with wells fargo. >> hello, i work for wells fargo bank. i cover the northern california region. i usually focus on about $350 -- $350,000 of sbe loans. last year, for 2010, i did 43 loans. so we are lending. i usually focus on six different types of loans. start-ups, business acquisitions, real estate purchases with ti's, working capital, a partner buyouts, business expansion. when i am looking at a potential loan, i use the standard five c's of credit. the first one is character. what we are looking for is a minimum score around 640. we would like to say no recent bankruptcy foreclosures, bankruptcies, tax liens. if we see a loan that has been modified, we would like to see a reason it was modified, what ever reason it may be. it cannot be, i did not want to pay that payment any more. the second c, conditions. basically, how precise will the money be used? we are looking at a business plan. when you look at a business plan, that is just a start up. we are looking to see where there will be the need for lending. if you are an existing busi

i do have one question for wells fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certi

post a list by wells fargo, to goldman. >> guest: let me do goldman and wells fargo.when detroit was filled out by washington, everybody took a haircut. the ceo and janitor to a haircut. executives lost half their deferred nongovernment guaranteed pensions. when wall street was bailed out by the previous administration, nothing changed. a lot of people hope the story of how goldman sachs had $13 billion, about a third of its capital with aig and made a bad debt would've paid pennies on the dollar. they would've lost 10 or 12 billion, maybe all of it. instead in a meeting of government leaders, including the treasury secretary who happen to the former chairman of oldman and the one nongovernment person in the room, the current chairman of goldman made a decision that led to 100% -- 100 cents on the dollar being paid to goldman. the government early bill goldman out. there's another one i go through the analysis that was effectively $5 billion gift to goldman. they just built headquarters. how do they build a? your taxpayer dollars in large part paid for the building. w

. >> wells fargo, goldman. >> guest: let me do goldman and wells fargo. when detroit was bailed out by washington, everybody took a haircut. the ceo and the january it in -- janitor took a haircut. the ceo lost a third of their guaranteed pension. when wall street was bailed out by the previous administration, nothing changed. a lot of people have heard the story how goldman sachs had $13 billion, third of its capital, with aeg and made a bad bet that would have paid off on pennies on the dollars. instead in a meeting of government leaders, including the treasury secretary who just happened to be the former chairman of goldman, and the one nongovernment person in the room, the current chairman of goldman, made a decision that led to 100-cent the end dollar being paid to goldman. the government thoroughly bailed goldman out. there's another deal goldman made was a $5 billion gift to goldman. they just bail new headquarters with your taxpayer dollars. taxpayers are paying your bills, it's ease you to make a profit. so, that's one of the things that has been

john manley with wells fargo funds. >> susie: good news on gas prices: they're falling after spiking because of hurricane sandy. that's welcome relief to many drivers, but it still costs more to fill up your tank now compared to a year ago. erika miller reports from one of the most expensive cities to fill 'er up. >> reporter: here in new york city, the long lines and gas rationing are finally gone, but there's more good news. like the rest of the nation, gas is actually cheaper now than before superstorm sandy. a month ago, superstorm sandy shut down refineries in the northeast, delayed oil shipments and left many gasoline stations without power. in some hard hit areas, prices spiked more than ten cents a gallon. but now, the situation has drastically improved here and around the country. regular unleaded costs an average of $3.42 nationwide. that's 12 cents below where it was a month ago. but drivers are still paying about 12 cents more for gas today than a year ago. a big reason is escalating middle east tensions. >> anytime you have that kind of conflict in the middle east, wheth

their investors yet i think that's a huge problem and this is a bank who's actually unlike unlike wells fargo who's had to pay some fines right unlike countrywide and bank of america who have had to pay a lot of fines they haven't had to pay any fines yet why is that well i guess the difference is that the obama administration believes in illegitimate financial rape and then the g.o.p. would believe like todd akin in legitimate financial rape that seems to be the only difference between the two parties these days now j.p. morgan and other financial terrorists they're back in the news there in the relating to a story that you first broke right here on the kaiser report two years ago serve you all. ok so this morning j.p. morgan finally filed a document with the f.c.c. and said hello shareholders we're admitting that all that stuff that tom ariano who was at bear stearns the head of the mortgage traders all that money that they live or they stole from their own clients right. well that that was kind of illegal so we're not going to many wrong but we we are going to settle with the f.c.c. now th

last but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund their loan. we will start with you, mark. >> absolutely. thank you. i want to thank speaker pelosi for putting this together. i want to thank all of the of for coming out on a smell it -- snowy san francisco date. [laughter] we've been told we should get us know when we go back outside. not sure what to expect. second, i thank speaker pelosi for all the work she did to support the jobs act and before that, the stimulus bill, the original american recovery act bill that allows sba to be able

. >>> san francisco based wells fargo is donating $1 million to relief efforts. the company announced 250,000 to the red cross. the remaining money goes to other non-profits that are working on relief and recovery efforts. if you would like to help you can make donations to the red cross at wells fargo atms. google created a map with up to date information. users can find idetails on -- find find details there and -- find details there. >>> nurses at six hospitals walked off the job today protesting their contract dispute. dozens walked the picket line this morning in oakland. the union says sutter is demanding reductions in patient care and standards in contracts. >> we are heroes every day that we go in to work. setting our contract. we are ready to bargain with them. >> a official tells ktvu channel 2 news the nurses are paid very well and urge the union to accept the company's office. >>> ross posted a mix sales report today. same store sales in october rose 4%, that was higher than they expected but lower than wall street's predictions. that sent shares down

we have digging into goldman -- >> guest: let me do goldman and wells fargo.when detroit was bailed out by washington everyone took a hair cut. the ceo and the janitor. executives lost half of their deferred government guaranteed pensions. when wall street was built by the previous administration, nothing changed and a lot of people heard the story how goldman sachs had $15 billion about a third of its capital with aig and made a bet that would pay off pennies on the dollars they would have lost ten or 12. instead in a meeting of government leaders and putting the treasury secretary who happened to be the former chairman and then on government person in the room they made a decision that led to 100 cents on low dollar being paid to goldman there's another deal made that goes through the analysis that was a 5 billion over gift to goldman how did they build it? you're tax payer dollars in large part paid for that building. taxpayers are paying your bills it's easy to make a profit so that is one of the things minimally explored and wells fargo for example is dea

. >> wells fargo announced goitsing to offer down payment assistance to moderate income residents.e city lift program will provide 250 families withy> the program is for qualified potential home buyers. work shops will take place at the oakland convention center marriott its holiday shopping season. a lot of us letting fingers do the walking and buying these days. >> cyber monday, figures are in and impressive. sales up from 17% to 28% depending on who you believe. almost $2 million went mobile. coming in higher with the bench mark says sales actually spiked 28% this year. that is a new record. despite hype, online sales account for just 10% of the holiday spending. organic peanut butter sk pulled off shelves tonight because of a salmonela outbreak traced to a plant in new mexico being blamed for sickness of 41 individuals. the fda is order

so that's where wells fargo bank is stepping in. this morning in oakland, the officials announced $5 million for downpayment assistance for homeowners in oakland, fremont, hayward, concord, antioch, pittsburg, richmond, brentwood and bay point may be able to afford the home of their dreams. >> i think there's still inventory out there. you would would-be buyers. >> wells fargo partnered with neighbor works america. >> it's a great holiday season experience where 250 families will get a $0,000 downpayment towards stabilizing many of the neighborhoods in oakland and in the surrounding cities. >>> how do you apply, well, december 7th and 8th at the oakland convention center. you can fill out an application if you live in the home for five years, you don't have to pay back a penny. if you leave before that, you will have to pay part of that back. tara moriarty, ktvu channel 2 news. >>> nationwide apartment rents are expected to go up again. the national association of realers predict rents will rise 4.6%. in 2014 and 2015, rent also pro

wells fargo announced a down payment program today for low income residents who buy in nine bay area cities including richmond, concord and antioch. >> it's a great holiday season experience where 250 families are going to get a $20,000 down payment toward stabilizing many of the neighborhoods in oakland and in surrounding cities. >> reporter: wells fargo will be taking applications at the oakland convention center december 7th and 8th. we're told buyers who live in the home for at least five years won't have to pay back that down payment loan. >>> google has launched a new campaign against a proposed tax on search engines. the measure in germany would require search engines there to pay every time they link to copy writed context. google is asking users in germany to sign an online petition against that proposed tax. >>> pg & e is teaming up with researchers at uc davis to test new technology to spot leaks in gas transmission lines. researchers are using sensors mounted on small airplanes to test leaks. scientists say the goal is to find a less expensive more reliable way to pinpoin

grateful it the chamber, to wells fargo for helping me create 5,200 jobs for our kids. that's a wonderful accomplishment. i've been your mayor for almost two years now and everybody is coming up to me and asking, are you enjoying it? you know, some of the politics in the city it's hard to enjoy but i will say honestly to steve fox, to the chamber and judy and all of you working together to keep our city successful, i do enjoy creating jobs. and when you see our youth get those paid internships or get that summer job at a number of all of your or starbucks, even, or the jamba juice and all the others and the nonprofits as well as our city departments and you see the gleam in their eye that they can really be part of this community in san francisco, that's something i really do enjoy and i will continue enjoying that for this whole 4 years term, even though i will avoid all the politics as much as i can. but i want to begin by saying that since i started, as judy mentioned earlier, san francisco businesses have created 22,500 jobs as my start, including 13,000 new jobs in

wells fargo advisors. together we'll go far. and you pick the price that works for you. great. whoa, whoa, jamie. watch where you point that thing. [ mocking ] "watch where you point that thing." you point yours, i point mine. okay, l-let's stay calm. [ all shouting ] put it down! be cool! everybody, just be cool! does it price better on the side? no, it just looks cooler. the name your price tool, only from progressive. call or click today. i got you covered. thank you. oh, you're so welcome. >>> tapping in to america's natural gas reserves, is it going to mean an energy independent future and is it safe? we are drilling down for answers with fred krupp the president of the american environmental defense fund. thank you for being here. they said the u.s. will be the largest global oil producer in 2020. this amazing. tell about the sea change in global energy floes today. >> it is great to have more american-made energy but not good enough. we need to modernize our energy grid. it's not good enough to be t

let's talk to one of those supporters, former wells fargo chairman and ceo dick ka vos vich.uch for joining us. why romney? >> i think the current administration has not had the right policies to grow the economy and bring down the unemployment level to an acceptable level below 6%. i think romney will have different policies and that will grow the economy at a higher rate. >> realistically, what could he do, dick, when you bear in mind the roadblock that any president faces when you have the kind of makeup and temperament of a congress that we've had for the last several years here? >> well, i think it's all about policies, not politics. i think whoever is elected, i think what they should do is the following. they should recognize that the partisanship and polarization is here. it's not going to change. no one is going to convince the republicans to vote with the democrats and vice versa. there has to be a compromise. there has to be a consensus. >> amen to that. >> here's how i -- >> you don't get that these days. >> here's how i think you can accomplish it. i think you st

and what we do know is that wells fargo is cutting down its investments and groups like geo group are they cut down the seventy five percent in the last year since two thousand and eleven so maybe they're moving in the right direction for your group and for the latinos to be satisfied actual caballero founder of quantum i thank you so much for joining us thank you so much for having me on that doesn't it for now i'm meghan lopez thanks for watching. good afternoon welcome to capital account i'm more in the store here in washington d.c. these are your headlines for a friday november second two thousand and twelve jobs numbers for october show the unemployment rate inching up a tenth of a percent to seven point nine percent but this is because more people entered the labor force which may be a good sign and payrolls climbed more than forecast so are we seeing incremental improvements on the labor front how sustainable is it given all the stimulus measures in place since two thousand and eight and what do wages indicate about an economic recovery or lack thereof and we'll talk about

jpmorgan and wells fargo facing $400 million in combined fines from the fcc.n here. he will break down why they were charged with misleading investors and what it might mean for stocks going forward. stay tuned. from currency tring for a few to a currency market for everyone. the potential of fxcm unlocked. nyse euronext. unlocking the world's potential. the potential of yelp unlocked. nyse euronext. unlocking the world's potential. will. >> this is a test liz: here is your stock and market check. can we hold onto this for the next 33 minutes? the first day in a long time. we have seen the selloff in the past seven sessions. check out some of the tech names in the s&p 500. driven by the pc demand. let's switch to hewlett-packard. hitting new lows today. tough time for tech stocks. at least at the moment. four years after the financial crisis. the banks are still having a tough time. regulators keep ringing cases against the big banks. he made jpmorgan paid about $200 million. we were the first to point out jpmorgan today, people close to the burgeoning investi

(laughter) >> rose: you still have a lot of wells fargo and buying more. >> a lot of wells fargo. >>rose: value there. and the qualitys you look for, management is one. >> sure. some kind of an enduring competitive advantage. enduring being the emphasis. i mean hula hoops were great for a while or bedrocks. but i like something where i think i can look out five or ten years and still see the same sort of advantage that -- maintaining. >> rose: so you just invested in john deere. >> that wasn't me. nope. we have two other -- >> rose: okay. okay. >>. >> rose: but you know what they're doing, do you not. >> no. i don't want to know what they're doing. >> rose: they're hired to -- >> they manage something around $4 million. >> rose: you don't want to know what they're doing? >> no. they have the responsibility for managing that money. they've got to have full authority. they can't look at me and see whether i'm smiling or frowning and they get paid based on how those securities do. >> rose: you have said you're hunting for a big elephant. >> you bet. the bigger the better. >> rose: what

. >> host: dessel let me to goldman sachs and wells fargo. when detroit was bailed out by washington the ceo and the janitor took a haircut and the execs lost half of their deferred guaranteed pensions. when wall street was bailed out by the administration, nothing changed and a lot of people heard the story how they had $13 billion about one third of the capitol with ag and made a bet that would pay off on pennies on the dollar. instead in a meeting of government leaders including the treasury secretary that happened to be the former german they made a decision that led to 100% being paid on the dollar to goldman. there's another deal they made when i go through the analysis it was a $5 billion gift to goldman. they build a new headquarters you won't find their name, how did they build it coming your taxpayers' dollars in large part. it's pretty easy to make a profit and that is one of the things that has been minimal the explored and there is a woman here in washington, d.c. a bus driver from school bus driver to buy a new car should not ta

. >>> federal regulators dropped a probe into wells fargo bank. the securities and exchange commission was investigating. the securities and exchange commission told wells fargo that it closed its investigation into the sale of mortgage backed securities and did not intend to file charges. earlier this year they dropped another probe, this one into goldman sachs. >>> governor jerry brown appointed a judge to serve on the state court of appeals. she has been a judge since 2002 and will replace another judge who retired. >>> to that car on your tv screen. if you are in the market for something unique, the batmobile will be up for auction next month in arizona. he modified the car for the series. the auction house puts it up for bid january 19 in scottsdale. >> i remember watching that. >>> a small gesture of good will, a tourist snapped this picture in new york city. that is a new york city police officer giving new boots to a barefoot homeless man in times square. the officer went to a store and spent $75 to buy those boots. the picture was posted

it will be held at the east convention center in the hall, and wells fargo will have to work out elsehallenges. >>> 450s, a well come flight. and alex smith suffered a concussion against the team's high against the rams. . >>> welcome back to the ktvu channel 2 morning news. federal investigators are trying to figure out what caused a small plane to crash killing two people on board. it was traveling into nebraska when it went down. one was a doctor in springfield, missouri and the other was his father who was a well-known businessman from omaha. >>> the sierra has been graced with snow, not so much good news for drivers in placer county. the snow dropped more than two feet causing spin outs and backups. chains are required in certain areas. north side are set to open friday and jaw clerk is set to accept next thursday. >>> the san francisco chronicle reports crews have almost finished shifting 2 5,000 tons of concrete from its temporary report structure. crews were worried they could put back construction and it is scheduled to go by the end of next year. all level smith will be eval

the reverend fong we have been recognizing your voice for wells fargo on the radio and we want to give recognition to your voice again as a champion for the central subway. come on up reverend norman fong. [applause] >> yeah, that's true. i am going to keep this short, but i also need your involvement. i was asked to do a blessing but those that know me we need to bless each other and today i just want you to say these four words. bless the central subway. say that. "bless the central subway". now, whenever i say this word "this is it" -- i am borrowing from michael jackson. then you did a blessing. okay. this has been the moment we all been waiting for. this is it. >> (inaudible). >> a community dream is being actualized. this is it. >> [inaudible] >> communities from the bay view to chinatown are being connected. this is it. >> central subway. >> affordable transportation is the life blood of all cities. right? this is it. >> central subway. >> from washington dc to san francisco we are here to accept brait a federally supported and grass-roots driven transit project that represents

joining me now, wells fargo's chieeconomist john silvia. good to have you wit us.tohappen under two scenarios because we have to candid it's. what happens if governor romney wins? >> i think most independent voters, especially, are going to feel a much better balance between the bnefit and the cost of policy-making and avoid some of the extremes in terms of environmenta regulation, health care regulation, federal spending. i think the market we will rally i think right now lot of investors are looking at president obama and unfortunately what they're seeing is higher taxes on dividends and capital gains. the market is not going to like it.@ lou: as we are looking, post-election market sell-off. we mean day after. we are looking at president obama. adelle shedding over five points, as did the market under william mckinley. we like to be thorough. and franklin roosevelt a day after. president -- you know, it's striking the idea that what you're saying here is president obama, the market will sell-off. you scratch your head and say, why in the world we reelecting the

jpmorgan, wells fargo, citigroup on a case-by-case basis.o you think there are alternative places people can get cash? par thpart of the problem is sof these banks don't have electricity so you can'tse your atm card. >> that is exactly right. i think the best advice is atms are in restaurants, lots of different public locations and i think it would be the best advice in order to actual get them, to have some friends or family is to really look around and go to any atm that you can get your hands on and ask them to waive the fee. gerri: let's get to some of your tips. don't risk safety for cost, go to the closest atm, right? >> again if you are a couple of days late, they will wave the late fees or finance charges, so don't do anything that will affect your safety. gerri: avoid short-term loans, right? >> that is right. a lot of banks are offering short-term loans to people that are affected that obviously pay their loans that people can get their hands on, but those are unfortunately very expensive and our best advice is to ask for a credit