there this is the kaiser report well jamie diamond c.e.o. of j.p. morgan has opened his pie hole again so is there ever yes max your favorite friend in new york city he's back here so where well we know he's going to possibly gather or go roust well last wednesday in fact he was up in new york bed along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank meet at fed j.p. morgan chase and company chief executive jamie. diamond said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we give he takes you know a little tape worm. we did tape one any money for me to steal. and then obama says we can look back we have to go forward let's pass laws to make it easier for tapeworms like james is still money. in the money. and he goes back into the warmth of his lairs people in cost of leora where he lives a little family of tapeworms. just me. but i maybe because of the tape. and lenders including new york based j.p. morgan the largest an

max kaiser this is the kaiser report well jamie diamond c.e.o. of j.p. morgan has opened his pie hole again it's a server yes max your favorite trend in new york city he's back here so where well we know he's going to toss a together or go roust well last wednesday in fact he was up in new york fed along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank chiefs meet at fed j.p. morgan chase and company chief executive jamie diamond said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we get he takes you know a little tape worm. we did tape one any money for me to steal. and then obama says we can look back we have to go forward let's pass laws to make it easier for tapeworms like james is still money. money. and he goes back into the warmth of his lair people in cost of leora where he lives a little family of tape worms. i was just me. but i maybe because of the tape. and lenders including new york based j.p. morgan the largest an

jamie diamond is well respected. and in they can engage this this risky behavior, what about all the other lesser institutions? and diamond has been in the forefront of lobbying against the vocal rule to water down the vocal rule, and i think this sidelines him to a certain extent on that. and i think it insures the vocal rule which goes into effect this summer, that the tougher version of that will be put in place some this has been a good thing at a very timely moment for the people who are urging tougher okay. mitt romney's repost. >> presidential hopeful mitt romney gave his views on j.p. morgan's losses. >> with that rush to pass new legislation or new regulation, it's just that in the normal course of business a large loss, but sure hawaii got one crippling or threatening to the institution. this is not a loss to the taxpayers of america. this is a loss to shareholders and owners of j.p. morgan, and that's the way america works. lost someone else gained. >> what do you think of that response? >> i think it's ri

prize or this is the kaiser report well jamie diamond c.e.o. of j.p. morgan has opened his pie hole again so. yes max your favorite friend in new york city he's back here so where well we know he's going to toss you together or go roust well last wednesday in fact he was up in new york sped along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank chiefs meet at fed j.p. morgan chase and company chief executive jamie diamond said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we give it takes you know a little tape worm. the tape worm any money for me to steal. and then obama says we can look back we have to go forward let's pass laws to make it easier for tapeworms like james are still money. money. and he goes back into the warmth of his lair as fickle and cost of leora where he lives a little family of tapeworms. me i was just me. but i maybe because of the tape. and lenders including new york based j.p. morgan the largest an

max kaiser this is the kaiser report well jamie diamond c.e.o. of j.p. morgan has opened his pie hole again say server yes max your favorite trend in new york city he's back here so where well we know he's going to toss it together and go roust well last wednesday in fact he was up in new york bed along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank chiefs meet at fed j.p. morgan chase and company chief executive jamie diamond said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we get he takes you know a little tape worm. i want you to tape one any money for me to steal. and then obama says we can look back we have to go forward let's pass laws to make it easier for james is still money. money. and he goes back into the warmth of his layers people and cost of leora where he lives a little family of tapeworms. jamie i was just me. but i maybe because of the tape. and lenders including new york based j.p. morgan the largest and

goal of fraud incompetence and overall scumbag by its leader jamie diamond stacy herbert tell me more max you are of course speaking of that which jamie diamond said pundits such as you and i would have a field day with which is why we're coming to you from a field including with sound effects like the birds that's not a sound effect daisy ever valued actual bird but well of course we're talking about it doesn't get any better than this suicide banker jamie diamond self inflicts a whopper j.p. morgan chase announced a surprise two billion dollars trading loss and credit derivatives trading with the chief executive jamie dimon blamed on quote errors sloppiness and bad judgment and warned could get worse stuff we're going to get worse they say because the blood is in the water people understanding that this is the limit of our day of this year the enron of this year they have got tens of trillions of dollars worth of liabilities on their balance sheet they they try to pass that off on the fed's balance sheet but then the fed is saying you know when we have an only so much toxic debt tha

goal of fraud incompetence and overall scumbag by its leader jamie diamond stacy herbert tell me more max you are of course speaking of that which jamie diamond said pundits such as you and i would have a field day with which is why we're coming to you from a field including with sound effects like the birds that's not a sound effect daisy ever valued actual bird but well of course we're talking about it doesn't get any better than this suicide banker jamie diamond self inflicts a whopper j.p. morgan chase announced a surprise two billion dollars trading loss and credit derivatives trading with the chief executive jamie dimon blamed on quote errors sloppiness and bad judgment and warned could get worse stuff we're going to get worse they say because the blood is in the water people understanding that this is the limit of our day of this year the enron of this year they have got tens of trillions of dollars worth of liabilities on their balance sheet they they try to pass that off on the fed's

max kaiser this is the kaiser report well jamie diamond c.e.o. more going to open his pio hole again so if there ever yes max your favorite friend new york city he's back here so where well. we know he's going to toss it together and go roust well last wednesday in fact he was up in new york sped along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank chiefs meet at fed j.p. morgan chase and company chief executive jamie diamond said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we get he takes you know a little tape worm. and we did tape one any money for me to steal. and then obama says we can look back we have to go forward let's pass laws to make it easier for tipper but james is still money. and jamie dick cheney now in the money. and he goes back into the warmth of his lair as he call in cost of leora where he lives a little family of tape worms. just me. but i maybe because of the tape. and lenders including new

max keiser this is the kaiser report well jamie diamond c.e.o. of j.p. morgan has opened his pie hole again so. yes max your favorite friend in new york city he's back here somewhere well we know he's going to toss it to gether go roust well last wednesday in fact he was at the new york fed along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank chiefs meet at fed j.p. morgan chase and company chief executive jamie dimon said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we get he takes you know a little tape worm. any money. and then obama says we can look back we have to go forward let's pass laws to make it easier for tapeworms like james is still money. money. and he goes back into the warmth of his lair faecal uncrossed of lair where he lives a little family of tapeworms. just me. but i maybe because of the tape. and lenders including new york based j.p. morgan the largest and most profitable u.s. bank are resisting fed ef

the regulators are very culpable because they've been putting jamie diamond on a pedestal. he was the one that supposedly came out better than everybody else out of the crisis and they've been letting him just run wild i think that there's not been any deep look at j.p. morgan and the deep look at jamie dimon unfortunately the shareholders didn't hold him accountable either at the annual meeting this week they revoked it to allow him to hold the c.e.o. and the chairman spot which i think is just utterly ridiculous there's got to be a bigger bigger checks and balances in the board of directors is the first stop the auditors is the second stop and the regulators certainly should be looking at what they're doing with the subsidized money that the fed is providing via basically zero interest rates right well we know america suffers collectively from stockholm syndrome and they fall in love with their captor the terrorist jamie diamond now let's go over to goldman sachs for a second because internal documents this is a story that matt taibbi has blown wide open over there rollin

or this is the kaiser report well jamie diamond j.p. morgan has opened his pie hole again so. yes max your favorite friend in new york city here so where well we know he's going to toss it together or go roust well last wednesday in fact he was up in new york spread along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank fed j.p. morgan chase and company chief executive jamie diamond said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we takes you know a little tape worm. we did tape one. any money for me to still do. and then obama says we can look back we have to go forward let's pass laws to make it easier for tapeworms like james who still money. and jamie to take any money. and he goes back into the warmth of his lair faecal uncrossed of lair where he lives a little family of jaipur. but i maybe because of the tape. and lenders including new york based j.p. morgan the largest and most profitable u.s. bank are resisting fed efforts to impose tough

max keiser this is the kaiser report well jamie diamond c.e.o. of j.p. morgan has opened his hole again so. yes max your favorite friend in new york city he's back here somewhere well we know he's going to toss a together and go roust well last wednesday in fact he was up in new york sped along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank chiefs meet at fed j.p. morgan chase and company chief executive jamie dimon said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we takes you know a little tape worm. we did tape one. any money for me to steal. and then obama says we can look back we have to go forward let's pass laws to make it easier for tapeworms like james is still money. money. and he goes back into the warmth of his lehrer's faecal uncrossed of lair where he lives a little family of j. worms. me i was just me. but i maybe because of the tape. and lenders including new york based j.p. morgan the largest and most profi

-prize or this is the kaiser report well jamie diamond c.e.o. of j.p. morgan has opened his pie hole again say server yes max your favorite friend in new york city he's back here so where. we know he's going to toss a together or go roust well last wednesday in fact he was up in new york bed along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank chiefs meet at fed j.p. morgan chase and company chief executive jamie diamond said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we give he takes you know a little tape worm. i want you to tape one any money for me to steal. and then obama says we can look back we have to go forward let's pass laws to make it easier for tapeworms like james are still money. any money. he goes back into the warmth of his lehrer's people in cost of leora where he lives a little family of tape worms. i was just me. but i maybe because of that tape. and lenders including new york based j.p. morgan the la

prize or this is the kaiser report well jamie diamond. morgan to open his pocket hole again so. yes max your favorite friend in new york city he's back here somewhere well we know he's going to possibly gather. well last wednesday in fact he was up in new york fed along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank fed j.p. morgan chase and company chief executive jamie diamond said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we takes you know a little tape worm. we did tape one. any money for me to steal. and then obama says we can look back we have to go forward let's pass laws to make it easier for to james is still money. and jamie taping our money. and he goes back into the warmth of his lair is equal in cost of larry lives a little family of jaipur. just me. but i maybe because of the tape. and lenders including new york based j.p. morgan the largest and most profitable u.s. bank are resisting fed efforts to impose tougher restrictions on t

max geyser this is the kaiser report well jamie diamond c.e.o. of j.p. morgan has opened his pie hole again so a server yes max your favorite friend in new york city he's back here so where well we know he's going to toss to gether go roust well last wednesday in fact he was up in new york sped along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank chiefs meet at fed j.p. morgan chase and company chief executive jamie dimon said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we get he takes you know a little tape worm. i want you to tape one any money for me. and then obama says we can look back we have to go forward let's pass laws to make it easier for tapeworms like james is still money. to take any money. he goes back into the warmth of his lehrer's people in cost of leora where he lives a little family of tapeworms. i was just me. but i maybe because of the tape. and lenders including new york based j.p. morgan the largest

and there's jamie diamond face picking up. or must i maintain for i'm a parasite doing more money because i'm a greedy i was born a greedy peacher disagree my parents are greedy no good mix i live for the stealing of your money i look i'm a pathological psychological tyrant i still. i steal therefore i. can be taped were dungeon and then max you mentioned stealing from simon johnson we have from one thousand seventy three to one thousand nine hundred five the financial sector never earned more than sixteen percent of domestic corporate profits in one thousand nine hundred six that figure reached nineteen percent and then i know it oscillated between twenty one in thirty percent higher than it had ever been in the post-war period this decade it reached forty one percent so they're getting more and more of the profits they're shaking down all the corporations not just us but the corporations as well they're shaking down everybody and taking more of the profit oh yeah that's a tape worm of their business model of stealing and lar

morgan chase lloyd blankfein and jamie diamond type guys steal your stuff but you know you need gold silver are diamonds in your co it's time to start thinking about that because this is the blitzkrieg coming these are the guys taking your stuff and there's nobody there to protect you right so they steal all your stuff and then they'll sell you insurance to prevent protection against them stealing all your stuff it's kind of like j.p. morgan bankrupt the community gomery alabama and then everyone's on the street and then they process all of the machinery behind food stamps so they try to hedge their bets one thing i guess it never learned as to how to hedge his programs the way jamie diamond is now hedging his full cost and now finally for this first half before you go talk to alex shaffer i wanted to say wrap up with guernica is something that very similar happened to pablo picasso that happened to alex shaffer so alex shaffer painted j.p. morgan chase burning and as probably cost has painted guernica and a few years later in nazi occupied paris during world war two picasso suffered

morgan chase lloyd blankfein and jamie diamond type guys steal your stuff but you know you need gold silver artwork diamonds and in your co it's time to start thinking about that because this is the blitzkrieg coming these are the guys taking your stuff and there's nobody there to protect you right so they steal all your stuff and then they'll sell you insurance to prevent protection against them spree stealing all your stuff it's kind of like j.p. morgan bankruptcy a community like gomery alabama and then everyone's on the street and then they process all of the machinery behind food stamps so they try to hedge their bets one thing i guess never learned was to hide the heads used programs the way jamie diamond is now hedging his full cost and now finally for this first half before you go talk to alex shaffer i wanted to say wrap up with guernica is something that very similar happened to pablo picasso that happened to alex shaffer and so alex shaffer painted j.p. morgan chase burning and as probably cost has painted guernica and a few years later in nazi occupied paris during world

morgan chase lloyd blankfein and jamie diamond type guys steal your stuff but you know you need gold silver are diamonds in your co it's time to start thinking about that because this is the blitzkrieg coming these are the guys taking your stuff and there's nobody there to protect you right so they steal all your stuff and then they'll sell you insurance to prevent protection against them stealing all your stuff is j.p. morgan bankrupt or community gomery alabama and then everyone's on the street and then they process all of the machinery behind food stamps so they try to hedge their bets one thing i guess never learned was to head to heads his programs the way jamie diamond is now hedging his full cost and now finally for this first half before you go talk to alex shaffer i wanted to say wrap up with guernica is something that very similar happened to pablo picasso that happened to alex shaffer and so alex shaffer painted j.p. morgan chase burning and as probably cost has painted guernica and a few years later in nazi occupied paris during world war two picasso suffered harassment f

max keiser this is the kaiser report well jamie diamond c.e.o. of j.p. morgan has opened his whole again so. yes max your favorite trend in new york city he's back here somewhere well i mean we know he's going to toss it together and go roust well last wednesday in fact he was up in new york fed along with a bunch of other c.e.o.'s of the banks diamond sites give and take after bank chiefs meet at fed j.p. morgan chase and company chief executive jamie diamond said there was give and take when bank leaders met with federal reserve officials to discuss industry oversight in new york last week oh yeah well we get he takes you know a little tape worm. we did tape one. any money for me to steal. and then obama says we can look back we have to go forward let's pass laws to make it easier for tapeworms like james is still money. in the money. and he goes back into the warmth of his lair as equal uncrossed of leora where he lives a little family of tape worms. but i mean because of that tape. and lenders including new york based j.p. morgan the largest and most

max kaiser this is the kaiser report the war against financial terrorists like jamie diamond and ben bernanke will be one in places like this the global nerve center and h.q. of gold silver dot com here in santa monica california stacy herbert talk to me max everywhere we go here in america we see debt pushers and the result of their over debt pushing they're pushing this debt crack on people who are just dropping dead all over the street so i have a headline here that is going to put into context and explain this bigger debt pushing story the most dangerous drug in the world devil's breath chemical from columbia can block free will wipe memory and even kill scopolamine often blown into faces of victims or added to drinks within minutes victims are like zombies coherent but with no free will some victims report emptying bank accounts to robbers or helping them pillage their own house and this is taken from the get you drunk tree in colombia yes well you could on the name for that financially speaking would be served or it creates financial zombies like japan for example many zombie b

max kaiser this is the kaiser report the war against financial terrorists like jamie diamond and ben bernanke will be one in places like this the global nerve center and h.q. of gold silver dot com here in santa monica california stacy herbert talk to me max everywhere we go here in america we see debt pushers and the result of their over debt pushing they're pushing this debt crack on people who are just dropping dead all over the street so i have a headline here that is going to put into context explain this bigger debt pushing story the most dangerous drug in the world devil's breath chemical from columbia can block free will wipe memory and even kill scopolamine often blown into faces of victims or added to drinks within minutes victims are like zombies coherent but with no free will some victims report emptying bank accounts to robbers or helping them pillage their own house and this is taken from the get you drunk tree in colombia yes well you could on the name for that financially speaking would be served or it creates financial zombies like japan for example many zombie banks

max kaiser this is the kaiser report the war against financial terrorists like jamie diamond and ben bernanke will be one in places like this the global nerve center and h.q. of gold silver dot com here in santa monica california stacy herbert talk to me max everywhere we go here in america we see debt pushers and the result of their over debt pushing they're pushing this debt crack on people who are just dropping dead all over the street so i have a headline here that is going to put into context and explain this bigger debt pushing story the most dangerous drug in the world devil's breath chemical from colombia can block free will wipe memory and even kill. scopolamine often blown into faces of victims or added to drinks within minutes victims are like zombies coherent but with no free will some victims report emptying bank accounts to robbers or helping them pillage their own house and this is taken from the get you drunk tree in colombia yes well you could on the name for that financially speaking would be. or it creates financial zombies like japan for example many zombie banks

max kaiser this is the kaiser report the war against financial terrorists like jamie diamond and ben bernanke will be one in places like this the global nerve center n h q of gold silver dot com here in santa monica california stacy herbert talk to me max everywhere we go here in america we see debt pushers and the result of their over debt pushing they're pushing this debt crack on people who are just dropping dead all over the street so i have a headline here that is going to put into context and explain this bigger debt pushing story the most dangerous drug in the world devil's breath chemical from columbia can block free will wipe memory and even kill scopolamine often blown into faces of victims or added to drinks within minutes victims are like zombies coherent but with no free will some victims report emptying bank accounts to robbers or helping them pillage their own house and this is taken from the get you drunk tree in colombia yes well you could on the name for that financially speaking would be served or it creates financial zombies like japan for example many zombie bank

diamond has been out there saying oh you know let's take this max in december jamie says in front of his investors that investor conference and tells them yes i realize we have fifty four billion dollars in residential mortgage backed securities that were being sued over but and this was an american banker story but i don't i don't think they're going to prove their claims ok so this is in december so in january then the f.c.c. comes knocking on their door saying no we do think you did something wrong and we're probably going to sue you so i think it's definitely worse that he's the nun lying the fact that this is a serious serious problem and let's take a look at what happened after that december meeting so fifty four billion right we learned that fifty four billion has now turned into one hundred twenty million dollars that's what they disclosed in their ten q. they said we could be sued are we are being sued for one hundred twenty billion dollars in residential mortgage backed securities fraud and problems that's a big number i mean they don't have their big bank right but they do

morgan chase lloyd blankfein and jamie diamond type guys steal your stuff but you know you need gold silver are diamonds and in your co it's time to start thinking about that because this is the blitzkrieg coming these are the guys taking your stuff and there's nobody there to protect you right so they steal all your stuff and then they'll sell you insurance to pretty good protection against them spree stealing all your stuff is j.p. morgan bankrupt the community gomery alabama and then everyone's on the street and then they process all of the machinery behind food stamps so they try to hedge their bets one thing i guess i never learned was how to heads his programs the way jamie diamond is now hedging his full cost and now finally for this first half before you go talk to alex shaffer i wanted to say wrap up with guernica is something that very similar happened to pablo picasso that happened to alex shaffer and so alex shaffer painted j.p. morgan chase burning and as probably cost has painted guernica and a few years later in nazi occupied paris during world war two picasso suffered

or jamie diamond something obama needs to learn don't negotiate with terrorists we'll see what the outcome is going to be stacy herbert thanks for being on the kaiser report thank you max don't go away much more coming your way stay right there. i am max kaiser welcome back to the cause a report time now to to go. terry bull terry bull is a journalist whose work can be seen in all the major financial publications and also has a terrible dot com terrible welcome back to the kaiser report the max is great to see you already terry bull you have a blockbuster story on j.p. morgan's latest ten q what is a wells notice and why was j.p. morgan presented with a wells notice or why does it matter ok so a wells nose is kind of this special a little warning that the securities and exchange commission will issue financial institutions to say hey we just want to let you know we're going to sue you or we're going to deliver an a foresman action we're giving you a warning ahead of time so that he maybe you'll come back and settle it's kind of like they're calling their bluff why this matters legally is t

or jamie diamond something obama needs to learn don't negotiate with terrorists we'll see what the outcome is going to be stacy herbert thanks for being on the kaiser report thank you max don't go away much more coming your way they right there. you. well for the. realization is the name of the game when you're saving lives is a close architectural masterpieces pleasers precision is what matters most the technology of the future just your fingertips knowledge you hear. the future. i am x. kaiser welcome back to the kaiser report time now to go to terry bull terry bull is a journalist his work can be seen in all the major financial publications and also has a terrible dot com terrible welcome back to the kaiser report in access great to see you already terry bull you have a blockbuster story on j.p. morgan's latest ten q what is a wells notice and why was j.p. morgan presented with a wells notice or why does it matter ok so a wells nose is kind of this special a little warning that the securities and exchange commission will issue financial institutions to say hey we just want to let you kn

morgan chase lloyd blankfein and jamie diamond type guys steal your stuff but you know you need gold silver artwork diamonds and in your co it's time to start thinking about that because this is the blitzkrieg coming these are the guys taking your stuff and there's nobody there to protect you right so they steal all your stuff and then they'll sell you insurance to pretty good protection against them spree stealing all your stuff is j.p. morgan bankruptcy or community gomery alabama and then everyone's on the street and then they process all of the machinery behind food stamps so they try to hedge their bets one thing i guess never learned was to have a hedge programs the way jamie diamond is now hedging his full cost and now finally for this first half before you go talk to alex shaffer i wanted to say wrap up with guernica is something that very similar happened to pablo picasso that happened to alex shaffer so alex shaffer painted j.p. morgan chase burning and as probably cost has painted guernica and a few years later in nazi occupied paris during world war two picasso suffered h

morgan chase lloyd blankfein and jamie diamond type guys steal your stuff but you know you need gold silver artwork diamonds and in your co it's time to start thinking about that because this is the blitzkrieg coming these are the guys taking your stuff and there's nobody there to protect you right so they steal all your stuff and then they'll sell you insurance to prevent protection against them spree stealing all your stuff is j.p. morgan bankrupt the community gomery alabama and then everyone's on the street and then they process all of the machinery behind food stamps so they try to hedge their bets one thing i guess i never learned was that i had a heads used programs the way jamie diamond is now hedging his full cost and now finally for this first half before you go talk to alex shaffer i wanted to say wrap up with guernica is something that very similar happened to pablo picasso that happened to alex shaffer so alex shaffer painted j.p. morgan chase burning and as probably cost has painted guernica and a few years later in nazi occupied paris during world war two picasso suffe

morgan chase lloyd blankfein and jamie diamond type guys steal your stuff but you know you need gold silver artwork diamonds and in your co it's time to start thinking about that because this is the blitzkrieg coming these are the guys taking your stuff and there's nobody there to protect you right so they steal all your stuff and then they'll sell you insurance to pretty good protection against them spree stealing all your stuff is j.p. morgan bankruptcy a community like gomery alabama and then everyone's on the street and then they process all of the machinery behind food stamps so they try to hedge their bets one thing i guess i never learned was how to heads his programs the way jamie diamond is now hedging his full cost and now finally for this first half before you go talk to alex shaffer i wanted to say wrap up with guernica is something that very similar happened to pablo picasso that happened to alex shaffer so alex shaffer painted j.p. morgan chase burning and as probably cost has painted guernica and a few years later in nazi occupied paris during world war two picasso suf

diamond has been out there saying oh you know the let's take this max in december jamie says in front of his investors that investor conference and tells them yes i realize we have fifty four billion dollars in residential mortgage backed securities that were being sued. over but and this was an american banker story but i don't i don't think they're going to prove their claims ok so this is in december so in january then the f.c.c. comes knocking on their door saying no we do think you did something wrong and we're probably going to sue you so i think it's definitely worse that he's the nun lying the fact that this is a serious serious problem and let's take a look at what happened after that december meeting so fifty four billion right we learned that fifty four billion has now turned into one hundred twenty million dollars that's what they disclosed in their ten q. they said we could be sued are we're being sued for one hundred twenty billion dollars in residential mortgage backed securities fraud and problems that's a big number i mean they don't have their big bank right but they

or jamie diamond something obama needs to learn don't negotiate with terrorists we'll see what the outcome is going to be stacy herbert thanks for being on the kaiser report thank you max don't go away much more coming your way they write their. i am x. kaiser welcome back to the kaiser report time now to go to terry bull terry bull is a journalist his work and be seen in all the major financial publications and also has a terrible dot com terrible welcome back to the kaiser report the max is great to see you already terry bull you have a blockbuster story on j.p. morgan's latest ten q what is a wells notice and why was j.p. morgan presented with a wells notice or why does it matter ok so a wells nose is kind of this special a little warning that the securities and exchange commission will issue financial institutions to say hey we just want to let you know we're going to sue you or we're going to deliver an a foresman action we're giving you a warning ahead of time so that he maybe you'll come back and settle it's kind of like they're calling their bluff why this matters legally is that w

diamond has been out there saying oh you know let's take this max in december jamie says in front of his investors that investor conference and tells them yes i realize we have fifty four billion dollars in residential mortgage backed securities that were being sued over but and this was an american banker story but i don't i don't think they're going to prove their claims ok so this is in december so in january then the f.c.c. comes knocking on their door saying no we do think you did something wrong and we're probably going to sue you so i think it's definitely worse that he's the nun lying the fact that this is a serious serious problem and let's take a look at what happened after that december meeting so fifty four billion right we learned that fifty four billion has now turned into one hundred twenty million dollars that's what they disclosed in their ten q. they said we could be sued are we are being sued for one hundred twenty billion dollars in residential mortgage backed securities fraud in problems that's a big number i mean they don't have their big bank right but they don

well speaking of jamie diamond max this is before the may day protests wall street tracks whorls as may first protests lou so here's an article that presents bankers jamie dimon lloyd blankfein all these other big banks here as the elks and the protesters are wolves ok yeah banks have a history of coordinating security with city authorities at a two thousand and nine u.s. senate hearing police commissioner raymond kelly described a partnership with financial district firms that gives his department access to hundreds of private security cameras footage is monitored in a downtown manhattan center he said a two thousand and five letter kelley wrote to edward force then chief administrative officer at goldman sachs shows it was among firms getting space in the facility so all these banks are recording the protesters they have access to this footage of who is that exactly protesting so it will be interesting in light of all of this these new laws coming in and the lack of any sort of justice. facial recognition software as well if you from now on forever will be excluded from this banking s

. >> here's a quote from jamie diamond on the conference call this is classic jamie diamond. he says just because we're stupid doesn't mean everyone else was. really admitting that it was a self-inflicted trading mistake. trades were poorly monitored and they're poorly executed. it was j.p. morgan alone. >> i disagree with that. i think it's endemocratic of the system. what happened on wall street is we survived the strom. people are back to doing what they were doing. what's astonishing to me is it comes out this far down. not that i'm a risk portfolio manager, but that is just incredible to me. although doc makes a good point, to me the bigger issue is how does it come out this late in the game. >> it doesn't matter if anyone else took risks or did anything else, it's still going to trade with the overall sector. it doesn't matter what anyone else did, the point is thatment p. morgan is going to bring the whole entire space down. >> it's the fear of the unknown. >> there is a known here. the volker rule is a credible known factor. and that's why it's on the tape. that's why

well speaking of jamie diamond max this is before the may day protests wall street tracks whorls as may first protests lou so here's an article that presents bankers jamie dimon lloyd blankfein all these other big banks here as the elks and the protesters are wolves ok yeah banks have a history of coordinating security with city authorities at a two thousand and nine u.s. senate hearing police commissioner raymond kelly described a partnership with financial district firms that gives his department access to hundreds of private security cameras footage is monitored in a downtown manhattan center he said a two thousand and five letter kelley wrote to edward force then chief administrative officer at goldman sachs shows it was among firms getting space in the facility so all these banks are recording the protesters they have access to this footage of who is that exactly protesting so it will be interesting in light of all of this these new laws coming in and the lack of any sort of justice. pre-sale recognition software as well if you from now on forever will be excluded from this banking

well speaking of jamie diamond max this is before the may day protests wall street tracks whorls as may first protests lou so here's an article that presents bankers jamie dimon lloyd blankfein all these other big banks here as the elks and the protesters are wolves ok yeah banks have a history of coordinating security with city authorities at a two thousand and nine u.s. senate hearing police commissioner raymond kelly described a partnership with financial district firms that gives his department access to hundreds of private security cameras footage is monitored in a downtown manhattan center he said a two thousand and five letter kelley wrote to edward force then chief administrative officer of goldman sachs shows it was among firms getting space in the facility so all these banks are recording the protesters they have access to this footage of who is that exactly protesting so it will be interesting in light of all of this these new laws coming in and the lack of any sort of justice. facial recognition software as well if you from now on forever will be excluded from this banking s