look at the citibank vote. all we need is a few courageous state or city comptrollers to start using their control of shares to vote the right way. here is the first easy step we should take as shareholders. ask and then demand that the companies stop making contributions to any organization that is trying to change the rules in washington. we don't care if it is the chamber of commerce or the sierra club. we want corporate money out of the game of changing the rules. we just want companies to focus on playing by the rules. i've longed believed that ownership trumps regulation as a way to get change. so let's not stop with our successes at alec and citibank. let's use our ownership aggressively. our new slogan should be, we own wall street. that's my view. at&t provided a mobile solution that lets everyone from field workers to accounting, initiate, bill and track work in real time. you can't live under a dome in minnesota that's why there's guys like me. [ male announcer ] it's a network of possibilities -- he

look at the citibank vote. all we need is a few courageous state or city comptrollers to start using their control of shares to vote the right way. here is the first easy step we should take as shareholders. ask and then demand that the companies stop making contributions to any organization that is trying to change the rules in washington. we don't care if it is the chamber of commerce or the sierra club. we want corporate money out of the game of changing the rules. we just want companies to focus on playing by the rules. i've longed believed that ownership trumps regulation as a way to get change. so let's not stop with our successes at alec and citibank. let's use our ownership i think it's brilliant. me and stephanie miller in the morning what a way to start the day. [ male announcer ] this is corporate caterers miami, florida. in here, great food demands a great presentation. so at&t showed corporate caterers how to better collaborate by using a mobile solution in a whole new way. using real-time photo sh

that is bank of america, a citibank, morgan chase and wells fargo. >> the government is also failing to help homeowners. fannie mae and freddie mac have also refused to reduce the principle of homeowners loans off saying that it hurts the taxpayer. for jeff: the satellite view bay area ! here's big news from verizon wireless and xfinity from comcast. now get the xfinity triple play and verizon wireless together. call 855-704-7400 to sign up and get a free smartphone. choose one of our hottest phones. verizon wireless and xfinity. tv, home phone, internet and wireless together. if you want a luxury car with a standard power moonroof, your options are going to be limited. ♪ if you want standard leather-trimmed seats, you're going to have even fewer. ♪ and if you want standard keyless access, then your choice is obvious. the lexus es. it's complete luxury in a class full of compromises. see your lexus dealer. it's complete luxury in a class full of compromises. and on small business saturday bothey remind a nations of the benefits of shopping small. on just one day, 100 million of u

in that situation, if you would have won mortgage from wells fargo, citibank, whatever, and then you make payments on that. at 100%, as you could afford that mortgage without any subsidy. the to 1000 mortgage is something that we called a silent second mortgage and it is silent because you don't have to make any payments on it. this city does not get repaid until you sell the property at which point the borrower has to pay the entire $200,000 back. >> thanks. that is all. >> >> could you do a little research with the real-estate industry? i don't think that at 100%, you could get a loan for 400,000. i could be wrong but i have tried to finance my condo and i cannot get anywhere and it is not near the worth 400,000. -- >> i don't think that there are provisions in here about what happens when someone defaults on the loan. >> that is correct. the provisions in the development >> that i know of, that is something that he can speak to the we have a default provision which would be applicable in this situation if because the way we are structuring his program is we're taking the existing

. >> the properties were overvalued citibank ski bigger loans than necessary. they also encouraged people to borrow extra money to purchase furniture, take trips, buy cars. it is wrong. >> the banks which often provide mortgages that purchase price with no down payments and the customers bear responsibility. th>> alone is a contract between two parties. the financial institutions -- a loan is a contract. they are legally obliged to inform their customers. >> many people are angry with the banks. the public are also somewhat naive. the result now? evictions. in the past, the police came in and they found they were thrown out. protests have put a stop to that. they have tried to buy time so that they can get some of her debt reduced. the bank is not taking any chances now. the locksmith is here to change the lock. for her, it is a waiting game. >> before, without a lawyer, i tried to talk to the bank. i asked for debt forgiveness and offered to pay rent, but it would not listen to me. >> everything is already packed, just in case. it is good news that she can sta

. >> monday i think if morgan stanley opens up with citibanks earnings, you look to put flies. >> when you're long, you want to manage them carefully on expiration week because that's when the near indicated option is expiring the most quickly. so you want to take advantage of that, but keep an eye on expiration day. >> well, it looks like our time has expired. for more options action, go to our website. we'll see you back here next friday at 5:00. money in motion is up right after this break. there's nothing worse than going to the post office and waiting in line. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com, you can print real u.s. postage for all your letters and packages. it gives you the exact amount of postage you need the instant you need it. can you print only stamps? no. first class. priority mail. certified. international. and the mailman picks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go

the nasdaq shed one in the house percent and on monday we are expecting of reports early results from citibank and bank of america of course it is the earnings week and we are seeing more and more companies coming out with their numbers but of course the biggest story of the week is. europeans florrie europe's financial health and its recovery you're seeing friday's closing figures right there as you can see it wasn't a good day there either european equities suffer pretty sharp losses after. the bank of spain said the country's banks in march doubled their borrowing from the european central bank essentially indicating the lack of liquidity and of course the yields on spain's ten year bonds were extremely high as i already mentioned and that affected the year old the euro was at its lowest level against the dollar in just about a month you saying that figure there and on friday the russian a ruble closed mixed to the main current says it lost to the dollar but again due to the euro we'll see how it opens today on monday we'll see that figure in a less than an hour and indeed it is less than a

morgan chase citibank and b. of a are the top three finance ears of industrial projects which cause c o two emissions and if it is true that you know the new york times and lots of other. commercial media types of venues are not so willing to talk about it in such a direct fashion i'm discovering that ordinary folks down in the bus stop in the diner talking on the sidewalks we just simply believe yes the sixth weather is coming from c o two emissions is coming from the financing of coal fire power plants and and methane and carbon monoxide and so forth this comes from the big banks now you point out the economics of carbon emissions and how these corporations who amid all this carbon of course their finances are financed primarily by those three banks as you mentioned so it would be seemingly fairly simple to do an analysis and say well you know the banks are taking on this risk that the globe blows up here's the carbon risk here's their balance sheet here's what it's worth per se air how come we never see an ana

a sum of money to an individual and early on and on but once that they arm the money things through citibank in new york that paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government to charge both of those individuals with money laundering both facing extradition proceedings if they both lose they're looking at up to twenty years of parole twenty years without parole as worst place to go if the federal judge in manhattan the u.s. government decided they wanted him to say or able to manufacture in my view jurisdiction not illegally a form of uncropped much where they were able to pull mr boot into the jurisdiction of the u.s. courts and placed him in him in extradition proceedings by way of. thailand and had him extradited to the united states. coming up layer of the sour here in our team are shaping politics new what it allows for brand new and sometimes controversial parties to answer the russian parliament examine the possible outcome in just a few minutes. around two thousand mourners a tale of the funeral of demetrius crystal's and elderly ma

a sum of money to an individual and barely a day on one but i'm sleeping on the money kings through citibank in new york not paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government have to charge both of those individuals with money laundering both facing extradition proceedings if they both lose they're looking at up to twenty years of parole twenty years without parole as are facing a federal judge and i'm happy the u.s. government decided they want to be say for able to manufacture in my view jurisdiction not illegally a form of an craft but where they were able to pull mr boot into the jurisdiction of the u.s. courts they placed him and him in extradition proceedings up by way of. thailand and the next regarded to the united states france president nicolas sarkozy veiled his vision for the cons announced thursday in preparation for the upcoming election and he reconfirmed his plan to cut immigration to france by half just two weeks after sitting in the city you have to lose rock the country but asked us are still you know reports are disease

transfers a sum of money to an individual and early on and unbeknown to the am the money kings through citibank in new york that paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government enough to charge both of those individuals with money laundering but both facing extradition proceedings if they both lose they're looking at up to twenty years of parole twenty years without parole as worst facing a federal judge in manhattan the u.s. government decided they wanted him to say or able to sue for manufacture in my view jurisdiction not illegally a form of an craft month where they were able to pull mr boot into the jurisdiction of the u.s. courts a place team him him extradition proceedings apply where you. thailand and have the next provided to the united states. now around two thousand mourners the town of the funeral of the demetrius current source and elderly man who shot himself in front of the parliament building in athens earlier this week seventy seven year old left a suicide note in which he accused the government of destroying his pension wit

transfers a sum of money to an individual and early on and under none still am a money kings through citibank in new york that pinging that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government and charge both of those individuals with money laundering but both facing extradition proceedings if they both lose they're looking at up to twenty years without parole as risk facing a federal judge in manhattan u.s. government decided they wanted him they were able to do to manufacture in my view jurisdiction not illegally a form of entrapment where they were able to pull mr boot into the jurisdiction of the u.s. court they placed him in you know in extradition proceedings that by way of. thailand had the next provided to the united states he must file a properly prepared notice of appeal and probably in about a year or so we'll know what the second circuit court of appeal says with regard to mr boots appeal. and do not forget it's there's plenty more the on our website going to r.c. dot com for more analysis of big debates imprisonment and here's a quick look at

transfers a sum of money to an individual and barely on and on but none still be on the money kings through citibank in new york that paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government charged both of those individuals with money laundering but both facing extradition proceedings if they both lose they're looking at twenty years without parole as worst facing a federal judge in manhattan u.s. government decided they wanted him they were able to manufacture and i do you jurisdiction not illegally a form of in crime where they were able to pull mr boot into the jurisdiction of the u.s. court they placed him in you know him extradition proceedings by way of. thailand heading extradited to the united states he must file a properly prepared notice of appeal and probably in about a year or so we'll know what the second circuit court of appeal says with regard to mr pope's appeal. and don't forget there's plenty more for you on our website we're going to ask dot com for more now this is a big to blitz imprisonments here's a quick look at what else we have

morgan chase citibank and b. of a are the top three finance ears of industrial projects which cause c o two emissions and if it is true that you know the new york times and lots of other. commercial media types of venues are not so willing to talk about it in such a direct fashion i'm discovering that ordinary folks down in the bus stop in the diner talking on the sidewalks we just simply believe yes the sixth weather is coming from c o two emissions is coming from the financing of coal fire power plants and and methane and carbon monoxide and so forth this comes from the big banks now you point out the economics of carbon emissions and how these corporations amid all this carbon of course their finances are financed primarily by those three banks as you mentioned so it would be seemingly fairly simple to do an analysis and say well you know the banks are taking on this risk that the globe blows up here's the carbon risk here's their balance sheet here's what it's worth pershing air how come we never see an analy

transfers a sum of money to an individual and really on and on but none stop him the money kings through citibank in new york that paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government and the charge both of those individuals with money laundering both facing extradition proceedings if they both lose they're looking at up to twenty years of parole twenty years without parole as worst place to go to the federal judge in manhattan the u.s. government decided they wanted him to say for a bill to food to manufacture in my view jurisdiction not illegally a form of in craft not where they were able to pull mr boot into the jurisdiction of the u.s. courts they placed him in you know in extradition proceedings about why you. thailand and had an extra dieted to the united states. over in bahrain on violent demonstrations against the government rage on was used the word is weighing in and with force several protesters were injured on saturday one police fired tear gas and rubber bullets thousands railing on friday were also met with a crackdown they marched i

morgan chase citibank and b. of a are the top three finance ears of industrial projects which cause c o two emissions and if it is true that you know the new york times and lots of other. commercial media types of venues are not so willing to talk about it in such a direct fashion i'm discovering that ordinary folks down in the bus stop in the diner talking on the sidewalks we just simply believe yes the sixth weather is coming from c o two emissions is coming from the financing of coal fire power plants and and methane and carbon monoxide and so forth this comes from the big banks now you point out the economics of carbon emissions and how these corporations amid all this carbon of course their finances are financed primarily by those three banks as you mentioned so it would be seemingly fairly simple to do an analysis and say well you know the banks are taking on this risk that the globe blows up here's the carbon risk here's their balance sheet here's what it's worth percy air how come we never see an analysis

a sum of money to an individual and beryllium under announced that they am the money kings through citibank in new york that pinging that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government have to charge both of those individuals with money laundering the both facing extradition proceedings if they both lose they're looking to add up to twenty years of parole twenty years without parole as first place and no federal judge in manhattan u.s. government decided they wanted to say for a go through to the manufacturer in my view jurisdiction not illegally the form of an craft much where they were able to pull mr boot into the jurisdiction of the u.s. courts and placed him in him in extradition proceedings. thailand had him extradited to the united states. you're watching the weekly here on r.t. around two thousand mourners attended the funeral of demetrius close dolorous an elderly man who shot himself in front of the parliament building in athens earlier this week and the seventy seven year old left a suicide note in which he accused the government of dest

morgan chase citibank and b. of a are the top three finance years of industrial projects which cause c o two emissions and if it is true that you know the new york times and lots of other. commercial media types of venues are not so willing to talk about it in such a direct fashion i'm discovering that ordinary folks down in the bus stop in the diner talking on the sidewalks we just simply believe yes the sixth whether it's coming from c o two emissions is coming from the financing of coal fire power plants and and methane and carbon monoxide and so forth this comes from the big banks now you point out the economics of carbon emissions and how these corporations who amid all this carbon of course their finances are financed primarily by those three banks as you mentioned so it would be seemingly fairly simple to do an analysis and say well you know the banks are taking on this risk that the globe blows up here's the carbon risk here's their balance sheet here's what it's worth per se air how come we never see an

transfers a sum of money to an individual and early on and unbeknown stop them the money kings through citibank in new york that pinging that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government to charge both of those individuals with money laundering they're both facing extradition proceedings if they both lose they're looking at up to twenty years of parole twenty years without parole as are spicing the federal judge in manhattan u.s. government decided they wanted to throw a are able to manufacture in my view jurisdiction not illegally a form of in profit one where they were able to pull mr boot into the jurisdiction of the u.s. courts and placed him in extradition proceedings of the way you. thailand and had the next provided to the united states and thus we see the outcome of the jury decision. well to access more information on the case and pick to play it dog on a twelve site r.t. dot com let's take a look at some other stories that are online few right now right states making them whistling the brotherhood open arms during a visit to washington d.c.

morgan chase citibank and b. of a are the top three finance ears of industrial projects which cause c o two emissions and if it is true that you know the new york times and lots of other. commercial media types of venues are not so willing to talk about it in such a direct fashion i'm discovering that ordinary folks down in the bus stop in the diner talking on the sidewalks we just simply believe yes the sixth weather is coming from c o two emissions is coming from the financing of coal fire power plants and and methane and carbon monoxide and so forth this comes from the big banks now you point out the economics of carbon emissions and how these corporations who amid all this carbon of course their finances are financed primarily by those three banks as you mentioned so it would be seemingly fairly simple to do an analysis and say well you know the banks are taking on this risk that the globe blows up here's the carbon risk here's their balance sheet here's what it's worth person there how come we never see an a

transfers a sum of money to an individual and girly on a on unbeknown studly on the money kings through citibank in new york that paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government to charge both of those individuals with money laundering but both facing extradition proceedings if they both lose they're looking at twenty years without parole as risk placing a federal judge in manhattan u.s. government decided they wanted him they were able to manufacture a ny do you jurisdiction not illegally a form of entrapment where they were able to took hold mr boot into the jurisdiction of the u.s. court they placed him in you know impacts tradition proceedings so by way of. kiley and having extradited to the united states he must file a properly prepared notice of appeal and probably in about a year or so we'll know what the second circuit court of appeal says with regard to mr pitts appeal. to go deeper into any of our stories just head over the top go for example you can check into why gambling in the u.k. becomes a game of russian roulette for many we

wire transfers a sum of money to an individual and berlioz unbeknownst to them the money kings through citibank in new york that pinging that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government have to charge both of those individuals with money laundering the both facing extradition proceedings if they both lose they're looking that up to twenty years from parole twenty years without parole as a risk placing a federal judge in manhattan the u.s. government decided they wanted him say for a full food food for manufacture in my view jurisdiction not illegally a form of entrapment where they were able to pull mr boot into the jurisdiction of the u.s. courts and placed him and him in extradition proceedings apply where you. thailand had the next provided to the united states. this is artsy over in bahrain nonviolent demonstrations against the government rage on with your thora to use weighing in with force several protesters were injured on saturday when police fired tear gas and rubber bullets thousands rallying on friday were also met the crackdown they marc

more companies reporting their orderly results and over the week the main the big stories will be from citibank and from bank of america reporting their results will will definitely focus on that and of course the big story of the week is europe and europe's financial help and that's to recovery and let's see how european markets finished on friday as you can see they finished with big losses mainly after the bank oh it's been said that the country's bank near banks nearly doubled their boring from the european central bank indicating the lack of their own liquidity that really disappointed the markets and as a result the euro slumped to the lowest level in about a month let's see those currency figures there here they are as you can see the euro is very weak and on monday morning about twenty minutes ago the russian move will sort of trading and it's losing value to both the greenback and the european firms and that's the latest from the business desk kerry i'll be back in about fifteen minutes i'll see them. right after not going to the headlines. if. you vote for bush or for bush the bush al

morgan chase citibank and b. of a are the top three finance ears of industrial projects which cause c o two emissions and if it is true that you know the new york times and lots of other. commercial media types of venues are not so willing to talk about it in such a direct fashion i'm discovering that ordinary folks down in the bus stop in the diner talking on the sidewalks we just simply believe yes the sixth weather is coming from c o two emissions is coming from the financing of coal fire power plants and and methane and carbon monoxide and so forth this comes from the big banks now you point out the economics of carbon emissions and how these corporations amid all this carbon of course their finances are financed primarily by those three banks as you mentioned so it would be seemingly fairly simple to do an analysis and say well you know the banks are taking on this risk that the globe blows up here's the carbon risk here's their balance sheet here's what it's worth per se air how come we never see an analysi

sum of money to an individual and early on and on but i'm sure that they own the money kings through citibank in new york that paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government and the charge both of those individuals with money laundering both facing extradition proceedings if they both lose they're looking at up to twenty years in parole twenty years without parole i was just facing a federal judge in manhattan u.s. government decided they wanted him to say or able to food or manufacture in my view jurisdiction not illegally a form of in private much where they were able to pull mr boot into the jurisdiction of the u.s. courts they placed him in you know in extradition proceedings by way of. thailand had an extra dieted to the united states. however in bahrain on violent demonstrations against the government rage on the words weighing in with force several protesters were injured on saturday when police fired tear gas and rubber bullets thousands railing on friday were also met with a crackdown they marched in support of a human rights cha

transfers a sum of money to an individual and barely on and on but i'm still beyond the money kings through citibank in new york that paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government to charge both of those individuals with money laundering but both facing extradition proceedings if they both lose they're looking at twenty years without parole hazaras placing a federal judge in manhattan u.s. government decided they wanted him they were able to manufacture a ny do you jurisdiction not illegally a form of entrapment where they were able to pull mr boot into the jurisdiction of the u.s. court i placed him in you know in extradition proceedings by way of. thailand and having extradited to the united states he must file a properly prepared notice of appeal and probably in about a year or so we'll know what the second circuit court of appeal says with regard to mr boots appeal. and over again there's plenty more for your on our website logon to our to talk with nor analysis of that to boots imprisonments is a quick look at what else we have in store fo

transfers a sum of money to an individual and barely on and on but i'm still beyond the money kings through citibank in new york that paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government to charge both of those individuals with money laundering the both facing extradition proceedings if they both lose they're looking at twenty years without parole that's a risk facing a federal judge in manhattan u.s. government decided they wanted him they were able to sue the manufacturer and i view jurisdiction not illegally a form of entrapment where they were able to pull mr boot into the jurisdiction of the u.s. court they placed him in you know in packs for additional proceedings so by while you. thailand and having extradited to the united states he must file a properly prepared notice of appeal and probably in about a year or so we'll know what the second circuit court of appeal says with regard to mr boots appeal. don't forget there's plenty more for you on our website slogan shakti dot com for more analysis of the exhibits imprisonment and here's a quick lo

sum of money to an individual and early on and on but announced that they own the money kings through citibank in new york that paying that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government enough to charge both of those individuals with money laundering but both facing extradition proceedings if they both lose they're looking at up to twenty years on parole twenty years without parole as first place to go to the federal judge in manhattan the u.s. government decided they wanted him to say or able to food or manufacture in my view jurisdiction not illegally a form of an craft much where they were able to pull mr booth into the jurisdiction of the u.s. courts they placed him in him in extradition proceedings apply why you. thailand and had him extradited to the united states. over in bahrain nonviolent demonstrations against the government rage on whether your stories weighing in with force several protesters were injured on saturday when police fired tear gas and rubber bullets thousands rally on friday were also met with a crackdown they marched in supp

all right gentlemen you know the what is the economy economics is called the science of of jumo paved citibank's of my guests today in edmonton in london face to our viewers watching us here are the phoenix family members. can. see. it's. easy to control everything. you know sometimes you see a story and it seems so for like sleep you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you thought you knew you don't i'm sorry mark it was a big check.

bank of america, citibank, wells fargo, j.p. morgan. the of government is also failing. freddie mac, and fannie mae that owns the majority of home loans in california has refused to reduce the principal. is it saying that it hurts the tax payer. reporting in san francisco, kate thompson. >>pam: the wall no walnut -- planning commission is planning on new proposed regulations for alcohol distribution. >>reporter: they just started discussing as if this becomes law of all 100. alcohol serving establishments would have to be in compliance. reports of numerous violations. with public drunkenness, similar to the problems that this area has had in the past. the bar could get a flying, and serving times could be reduced with extreme circumstances it could be struck down, altogether. business owners think that this goes too far. >> it seems to be a political gain. it will not only hurt the owners but also employees. and is this is going to impact my income? it seems to be impacting everybody. >>reporter: the public ordinance could even decide on this as early as tonight. >>pam:

transfers a sum of money to an individual and early on and unbeknown to them the money kings through citibank to new york that pinging that touching of u.s. jurisdiction is sufficient jurisdiction for the united states government to charge both of those individuals with money laundering both facing extradition proceedings if they both lose they're looking at up to twenty years of parole twenty years without parole as the pricing of a federal judge in manhattan u.s. government decided they wanted him they were able to sue the manufacturer in my view jurisdiction not illegally the form of an craftsman where they were able to pull mr boot into the jurisdiction of the u.s. courts that placed him in extradition proceedings by way you. thailand and had him extradited to the united states and thus we see the outcome of the jury decision and will now see what the judge says with regard to what a sentence is going to be alright thanks him so much american lawyer douglas mcnabb the joining us live on the line from houston and we're expecting as been mentioning that sentence to be declared handed out in

morgan chase citibank wells fargo and allied financial is expected to speed up the foreclosure process by providing spit stricter guidelines for the banks to follow when repossessing homes. millions of homeowners have had to make these tough decisions between bills and mortgage payments ... many have been able to stand their homes in spite of default ... this couple hopes they will lose their home of 47 years ... we now have the sound back here you go ... i guess we do not ... this ellis family is very distraught ... a representative of the chicago realtors association says that they're trying to work with nonprofits to help keep people in their homes nancy and james ellis worked all their lives to raise their children in this home they bought it 1965 and paid it off their two sons borrowed money against the home one lost his job the other is in financial difficulty and they are unable to pay affecting the parents. the bank was not willing to refinance the loan ... which could cap the meant the househave kept them in the home ... you see these families to have done the right thing for

it tells the story of how bloomingdale's gave us the first credit card, and why they succeeded when citibank, at first, failed. how target, in the 1960s was called tarsier, and how ann taylor and bloomingdale's gave credit cards. i promise to be quick before you go out to dinner before the snow comes. but i did want to take a second and talk about this idea of investment and debt. and what it has changed in the 1970s to bring this back. what changed in the moment from the 1920s, to bring back our new regime. i want to talk about mortgage backs his -- mortgage-backed security. in my book, i show how the mortgage-backed securities under the housing boom of the 1920s. this is how dick spencer was able to sleep at night after the collapse. he knew that the money would come. but these mortgage-backed securities are shunned by the market, because they, like today, were toxic assets that acids that could not be resold. they lost all their value, as those mortgages and houses. they were banned by the federal and ignored by the market in the 1930s, only to be resurrected in the 1970s as a way to chan

. >> some of the data that was out, citibank's and goldman's earnings last week were the areas that were strong and goldman has a big presence. that should bode well for them. i don't know what to make of it. i don't want to make too much out of it. there is a spin issue that they have to deal with in general. i don't know how much that is weighing on the stock. going into earnings, i think goldman is attractive. the franchise value is incredible and the evaluation is ridiculous. >> the last quarter goldman came in traded around $94. the stock traded up $35 for the next couple of weeks and never looked back until recently. maybe you won't have that kind of move. u.s. bank corp to me, i think you are hoping with usb, a tepid quarter and hope the street sells it off and get another opportunity to buy. that's hopefully what it happening. a lot of folks warming up to it. i think that's the help. >> goldman sachs's options are indicating people expect to see a substantial moves because they are trading at about a 4% implied type of a move. that's a significant move for goldman. one way or the

and he stopped buying citibank. wasn't in his basket. they were always in his basket. and, you know, i called him. and he said... i said, "you know, it was really terrific that you avoided all these financials." >> smith: what did he say? >> he said that he thought that the investment bankers, and the major banks, were destroying the united states. >> smith: manzke and de la villehuchet placed even more money, including their personal accounts, with madoff. the problem was that by december even madoff started getting more requests for withdrawals than deposits. >> people are losing money. everyone's got margin calls. there are... everyone have.. there's a lot of movement of money. so i think a lot of the large institutions needed money-- even if it was parked in bernie's funds-- to help pay back other investors or to run their own businesses, whatever it was. so i think anytime there's a down market, that's when a lot of these ponzi schemes blow up because there's often lots of redemptions even if the investment's doing well. >> the fact is, he easily could have gone t

walked into the bank tomorrow, the citibank with an automatic rifle, go up to the teller and say i would like to make a large withdrawal and see what sort of reaction you would get. in israel nobody even blinks. this is life in israel at the time. >> it was a very surreal and every day was filled with these calculations of how to psych out the bombers and avoid catastrophe. everything would look normal on the surface. even if our two young daughters by the time we move to the states we had never taken them to the grocery store because the grocery store was a place people gathered, it was a target and it was too dangerous. we wouldn't do is that but it was safe enough to go to friends homes and a real enough to go to the rose garden in jerusalem but if we wanted to go to the movies there with a mall in jerusalem and we would circle three or four times around the entire mall because there are five or six entrances and you want to see where the shortest line was a new -- you knew the bomber couldn't get into the theater because there was a strict security outside but didn't want to waste ti

no offense to jpmorgan, but you look at citibank and bank of america trading at 60% of book value and 50% of book value respectively. so the valuations to your point about banks is right on the mark. >> if you don't know what the valuations are in those banks because you know know what actual book value. i think this is the perfect environment for a well-run banks like jpmorgan. it's one of my favorite stocks because you do have the steepening yield curve. they're buying nondistressed assets in europe from disstraesed sellers and taking market share. it's panacea with rates going up and with the economy picking up. and credit quality better. >> let me ask you, mike, you said you would be a big buyer if the dow dropped all the way to 10,000. >> right. >> i don't happen to agree about 10,000. what brings the dow to 10,000? >> if you look at when this rally started, right, since that time, real gdp per capita in this country has declined. we have become poorer as stocks have run up simply because we've had this monetizing by the fed. it's a pure bubble. i'm saying this. if you go back do

police in lubbock says a man armed with a handgun took a woman hostage at a citibank. the gun man surrendered after an hour of negotiations. >>> a rainmaker at the white house thanks to a construction mishap. a geyser of water shot up after equipment mistakenly struck a water main at the white house. the leak was quickly plugged. white house press secretary jay carn carney, funny guy, later joked that the workers were drilling for oil as part of the president's initiative. >>> for a look at all these stories, head to cnn.com/earlystart. >> very smart. >> put on your bathing suits, go play. was it warm out there? thank you, christine. >> you're welcome. >>> the tough cleanup continues after a dozen tornadoes tore through the dallas-ft. worth suburbs. we're going to go to alexandra steele, live in atlanta with the latest for us. nice to see you. >> good more than, guys. they have gone out, 11 now confirmed tornadoes but they say the number could be as high as 15. here's a look at what we know so far, the kenyondale-arlington tornado, maximum sustained winds, 135. on the

citigroup obviously, citibank, one of the biggest banks in the entire country and entire world. you want to take a closer look at it today with you. >> by the way i think one related point is, people are taking a closer look because a lot of these banks were bailed out. jenna: right. >> not only taxpayers but shareholders think we should take a closer look now. jenna: looks like we are at least by citigroup. steve, thank you very much. always nice to see you. >> thank you, jenna, coming up a new story getting a lot of attention today. some just published photographs of 2-year-old pictures that appear to show u.s. troops posing with dead terrorists. we have a live report from kabul. don't go away. ♪ [ acoustic guitar: slow ] [ sighs ] [ announcer ] all work and no play... will make brady miss his favorite part of the day. ♪ [ upbeat ] [ barking ] [ whines ] that's why there's beneful plful life, made with energy-packed wholesome grains... and real beef and egg. to help you put more play in your day. beneful. play. it's good for you. jenna: some new information on an alleged i

high risks it and at the commercial banks, a hundred regulators of the new york fed on the board the citibank, et cetera. a lot of things the government did incorrectly that led to this. the message that government has to do more is wrong. >> that has become the consensus thing that the government has to do something. how do we beat that back and do you see any republican candidates articulate it well? >> we beat it back by showing it doesn't work, not only this time but in the 70s it didn't work. they it h all these interventions and inflation rose. and recently. we had slow recovery. you have a philosophy, romney getting close to the ryan budget plan, which is to get spending back to where it was before the crisis in a nice way, it's not destructive to the economy, it's quite positive, reducing the role of intervention in the economy. on the other hand you have a very interventionist approach, the president's budget. so there's a contrast. that's the good thing about an election year. >> how do you explain the financial crisis in that some people argue there wasn't enough regulatio regulati

out of business and told the story of how they give the first credit card and why they succeeded in citibank and first and how target even then in the 1960's was called tarjay and how it and ann taylor used credit to destroy bloomingdale's. but all of that will be too much for one night and i promised to be quick so we can go out to dinner before the snow comes but i did want to take a second to talk about the safety of investment and debt and what it had changed in the 1970's to bring this back with a chance in a moment in the 1920's to bring back our new regime, so i want to talk about the mortgage-backed securities and i sure how these mortgage-backed securities then called participation certificates funded the housing boom of the 1920's and this is how the banker was able to sleep at night after the collapse he knew the money could come back the mortgage debt securities are shunned by the market because the toxic gases that couldn't be resold as the house's offer closed on. so they were banned by the fed and ignored by the market in the 1930's only to be resurrected in the 1970's as a wa

citibank's energy analyst came out and said he thinks u.s. will be a net oil exporter by 2020. think about the implications of the united states acnbeing a ne oil exporter. that's eight years from now. a lot of people don't think out that far. we're trying to think about those trends and what that means. >> how do you take advantage of that? one thing on recognize it. >> go long houston. go long areas that are beneficiaries of that. >> buy real estate around it? >> yeah or even terminals or distribution centers. you actually represent a pool of capital that's kind of similar to richard's. your choice in careers. you went for a high net worth individual. had capital. that probably influenced how you wound up in this particular position. >> i think that's right. richard and dan stern and eddie recommended me to michael when michael was looking for someone. i had spent a fair amount of time with richard when i had -- when i was kind of putting together a business plan to raise my own fund. >> weren't you at zell? >> i was with sam when i got out of business school. i was work on t

walked into the bank tomorrow, the citibank with an automatic rifle, go up to the teller and say i would like to make a large withdrawal and see what sort of reaction you would get. in israel nobody even blinks. this is life in israel at the time. >> it was a very surreal and every day was filled with these calculations of how to psych out the bombers and avoid catastrophe. everything would look normal on the surface. even if our two young daughters by the time we move to the states we had never taken them to the grocery store because the grocery store was a place people gathered, it was a target and it was too dangerous. we wouldn't do is that but it was safe enough to go to friends homes and a real enough to go to the rose garden in jerusalem but if we wanted to go to the movies there with a mall in jerusalem and we would circle three or four times around the entire mall because there are five or six entrances and you want to see where the shortest line was a new -- you knew the bomber couldn't get into the theater because there was a strict security outside but didn't want to waste ti

walked into the bank tomorrow, the citibank with an automatic rifle, go up to the teller and say i would like to make a large withdrawal and see what sort of reaction you would get. in israel nobody even blinks. this is life in israel at the time. >> it was a very surreal and every day was filled with these calculations of how to psych out the bombers and avoid catastrophe. everything would look normal on the surface. even if our two young daughters by the time we move to the states we had never taken them to the grocery store because the grocery store was a place people gathered, it was a target and it was too dangerous. we wouldn't do is that but it was safe enough to go to friends homes and a real enough to go to the rose garden in jerusalem but if we wanted to go to the movies there with a mall in jerusalem and we would circle three or four times around the entire mall because there are five or six entrances and you want to see where the shortest line was a new -- you knew the bomber couldn't get into the theater because there was a strict security outside but didn't want to waste ti

out of business and told the story of how they give the first credit card and why they succeeded in citibank and first and how target even then in the 1960's was called tarjay and how it and ann taylor used credit to destroy bloomingdale's. but all of that will be too much for one night and i promised to be quick so we can go out to dinner before the snow comes but i did want to take a second to talk about the safety of investment and debt and what it had changed in the 1970's to bring this back with a chance in a moment in the 1920's to bring back our new regime, so i want to talk about the mortgage-backed securities and i sure how these mortgage-backed securities then called participation certificates funded the housing boom of the 1920's and this is how the banker was able to sleep at night after the collapse he knew the money could come back the mortgage debt securities are shunned by the market because the toxic gases that couldn't be resold as the house's offer closed on. so they were banned by the fed and ignored by the market in the 1930's only to be resurrected in the 1970's as a wa