a guy who's called the london whale jamie. diamond was out there like some episode from flipper throwing a little minnows into his gullet saying in london whale commit massive securities fraud jamie diamond another massive serial securities fraud service is known as one thousand and one it's you lie to any federal official any and the hundreds and hundreds and hundreds of people across america every single year are caught in this trap mostly unknowingly they accidentally had didn't know this person was a federal regulator and just a simple little lie about where their home was their water hoses is going it rather you know so they get caught in this lot while i have a story here that i want to show you that here's the too big to fail banks too big to fail all across america and they've been caught lying in this next headline this next story i have to cover max mortgage crisis presents a new reckoning to banks regulators prosecutors investors in the service have filed dozens of new claims against bank of america j.p. morgan chas

a guy who's called the london whale jamie. diamond was out there like some episode from flipper throwing a little minnows into his gullet saying here london whale commit massive securities fraud jamie diamond another massive serial securities fraud service is known as one thousand one it's you lie to any federal official any and the hundreds and hundreds and hundreds of people across america every single year are caught in this trap mostly unknowingly they accidentally had didn't know this person was a federal regulator and just a simple little lie about where their home was their water hoses is going it rather you know so they get caught in this lot while i have a story here that i want to show you that here's the too big to fail banks are too big to fail all across america and they've been caught lying in this next headline this next story i have to cover max mortgage crisis presents a new reckoning to banks regulators prosecutors investors in a series of file dozens of new claims against bank of america j.p. morgan chase we

a guy who's called the london whale jamie. diamond was out there like some episode from flipper throwing a little minnows into his gullet saying here london whale commit massive securities fraud jamie diamond another massive serial securities fraud service is known as one thousand and one it's you lie to any federal official any and the hundreds and hundreds and hundreds of people across america every single year are caught in this trap mostly unknowingly they accidentally had didn't know this person was a federal regulator and just a simple little lie about where their home was their water hose is going it rather you know so they get caught in this lot while i have a story here that i want to show you that here's the too big to fail banks are too big to fail all across america and they've been caught lying in this next headline this next story i have to cover max mortgage crisis presents a new reckoning to banks regulators prosecutors investors in a series of file dozens of new claims against bank of america j.p. morgan chase

a guy who's called the london whale jamie. diamond was out there like some episode from flipper throwing a little minnows into his gully saying in london whale commit massive securities fraud jamie diamond another massive serial securities fraud service is known as one thousand and one it's you lie to any federal official any and the hundreds and hundreds and hundreds of people across america every single year are caught in this trap mostly unknowingly they accidentally had didn't know this person was a federal regulator and just a simple little lie about where their home was their water hose is going it rather you know so they get caught in this lot while i have a story here that i want to show you that here's the too big to fail banks are too big to fail all across america and they've been caught lying in this next headline this next story i have to cover max mortgage crisis presents a new reckoning to banks regulators prosecutors investors and a service to file dozens of new claims against bank of america j.p. morgan chase

a guy who's called the london whale jamie. diamond was out there like some episode from flipper throwing a little minnows into his dolly saying here london whale commit mass of securities fraud jamie diamond another massive serial securities fraud service is known as one thousand one it's you lie to any federal official any and the hundreds and hundreds and hundreds of people across america every single year are caught in this trap mostly unknowingly they accidentally had didn't know this person was a federal regulator and just a simple little lie about where their home was their water hoses is going it rather you know so they get caught in this lot well i have a story here that i want to show you that here's the too big to fail banks too big to fail all across america and they've been caught lying in this next headline this next story i have to cover max mortgage crisis presents a new reckoning to banks regulators prosecutors investors in a series of file dozens of new claims against bank of america j.p. morgan chase wells fa

a guy who's called the london whale jamie. diamond was out there like some episode from flipper throwing a little minnows into his gullet saying in london whale commit massive securities fraud jamie diamond another massive serial securities fraud service is known as one thousand one it's you lie to any federal official any and the hundreds and hundreds and hundreds of people across america every single year are caught in this trap mostly unknowingly they accidentally had didn't know this person was a federal regulator and just a simple little lie about where their home was their water hoses is going it rather you know so they get caught in this lot while i have a story here that i want to show you that here's the too big to fail banks too big to fail all across america and they've been caught lying in this next headline this next story i have to cover max mortgage crisis presents a new reckoning to banks regulators prosecutors investors in a series of file dozens of new claims against bank of america j.p. morgan chase wells fa

whale trading losses, according to two people familiar with the investigation. now, according to the sources the people -- according to one of the sources, the people include current and former jpmorgan employees as you would expect. now, reports of this probe first -@surfaced in the fall. now we can report that investigators are casting a wide net in their review of those trades. now, sources emphasize that all of this does not mean that the subcommittee will hold formal hearings on the bank's trading losses o or that -- or that it will issue any scathing report on them. but if the subcommittee ends up doing either, it could be more headaches, problems for jpmorgan here in washington. senator carl levin, one of wall street's toughest critics, criticized the bank in may when it announced the loss saying, quote: it made a very big and complicated bet that now has gone very wrong. the senator's office did not immediately respond to our requests for comment on details of his subcommittee's probe, and the bank has declined to comment. but all of this could mean head

. >> remember when you had the london whale over at jp -- liz: all it takes is one guy. >> but, remember, those big firms, they can survive that. it was him and a bunch of them. liz: well, they had some superiors. >> all involved. but when you've got a small firm, i'm just happy to report that rock dale's more than dick bove. liz: i'm sure crowley would appreciate that. does he have a first name? >> dan crowley. liz: good luck, dan. [laughter] alistair crowley. do you know who that is? liz: i know who alistair cooke is. >> no, the famous satanist. liz: that i didn't know. >> you have red hair, you should know about satan. liz: yes, we're the devil. thanks, charlie. what exactly is technical rally? we've got a really supersmart chart watcher who's going to explain to you in plain, simple english when you should be buying the s&p, when you should be selling. gold as well. what a wild prediction he's got on that one. you've got to hear bill strazzullo, telling us why the charts are telling him to sell gold and buy financials. it's a fox biz exclusive. ♪ what's next? he's going to apply te

about that london whale at jpmorgan, it forced jamie dimon to clear house, a dozen executives changing roles. expect a lot of face time with media and investors for mike cavanaugh, co-ceo of the investment bank and the not so dark horse to succeed dimon. battles will brew over regulation, the consumer financial protection bureau will crack down on overdraft fees, a big chunk of bank revenues. with the help of the fed, two key facets of dodd-frank will reach the finish line. the voelker rule will be completed by midyear as will the regulation of the trillion dollar derivatives industry. if either of these hurts competition abroad, expect banks to sue. >>> all right. the housing recovery rolls on but will 2013 be a bigger boom or a bigger bust? truly a chief economist will join us with his predictions next. >>> plus, china's newest train cuts a 20-hour trip to less than half that time. just how speedy is it? the answer for you later on on "street signs." [ male announcer ] this december, remember -- you can stay in and share something... or you can get out there and actually share someth

. >> michelle, the london whale the big headlinen2012. will the orlando whale make a big splash in 2013. just imagine, you may be able to get a piece of shamu. the story next on "power lunch." >>> this cnbc program is sponsored by the lincoln wish list event. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. >>> take a look at your screen right now. mother nature really dumping snow on our neighbors to the north. they generally handle snow pretty well up in canada, but this storm came as fast and furious tying up roads, airports from ottawa to northern quebec. i'm so glad that's not us, tyler. >> yeah. there was a little snow coming this weekend but nothing like that. time for the power rundown. michelle will stay with us. john carnie is here with us as well. shamu, let's talk about big w

it is caused by the london whale, a trader that got a reputation for big bats with complex financial investments. the wide net that the subcommittee appears to be casting will not necessarily lead to any formal charges against the bank, any formal hearings on the trading losses or any scathing reports. senator carl levin, the chairman of this subcommittee, criticized the bank in may when it announced this law saying it "made a very big and complicated that that now has gone very wrong." he is now one of the sentence leading critics of wall street. they did not comment on our story today. if a probe generates any substantive results, that could mean war headaches for ceo jamie dimon. it has been investigated whether -- that issue as well as the bank's internal controls oversight of traders and other matters could be among the subjects of the subcommittee's probe. melissa: peter barnes, thank you so much. lori: breaking news out of egypt. thousands of protesters ready to march on the palace to protest president morsy. melissa: let's see how the energy market is reacting to this. let's

jeffrey cough marks abc news, london. >> in southern california a dead whale has been towed out to sea after rotting on a beach for nearly a week. the whale washed up monday on a beach in malibu. that beach is privately owned so local government agencies were refusing to remove the decomposing carcass. yesterday the local homeowner's association hired a tugboat to tow the whale will 20 miles from shore. up next, a story you will only see on abc7 news. the new mobile app that could mac your search for parking a bit easier, just in time for your holiday shopping. and here's a live look from our roof cam showing you the embarcadero. people out and about this morning. a delightful day in store. lisa argen will have your forecast in just a few minutes. ♪ i'd like to thank eating right, whole grain, multigrain cheerios! my bowl, my spoons! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios has whole grain and 110 delicious calories. ...more grains. less you! multigrain cheerios in multi-grain cheerio

they live in whales, which is many, many miles from london. so prince william has to work, they'll have to spend time apart. which don't want to do. they're a close knit couple. >> gretchen: one of the interesting issues now is what will they name this beautiful little baby or could it be two, which we'll get to in a moment? what do you think? >> well, the baby is going to be third in line to the throne. will be monarch one day. it will be a traditional, historical name, probably by king or queen that already existed. victoria ii or elizabeth iii or so forth of the won't be diana, i don't think. that's too controversial. maybe for a middle name. >> gretchen: what about if it's a boy? >> boy, maybe looking at sort -- maybe charles, maybe george. william actually will be william v. but it will be a name from time gone by. >> gretchen: let's get to the twin issue. many people have been speculating because of this severe kind of morning sickness that she has, sometimes that's emlet matic of being pregnant with twins. let's presuppose she needs a c

it is seen as well formed at the back of a whale. a member when you were a kid and hold a ball of clay out on the table? making it a long, round, clay rope? affiliate looks like. it's very peculiar. it just doesn't exist. of course it exists, you can. you can follow it for a thousand miles, you can for a thousand miles, you can follow it from the mid-atlantic for days until it broke on the shore of me. if you are in the water with a surfboard, you could write it. and if you carefully if you're way off the jetty of the maine coast, and utrecht are slipped while a breaker was smashing against the granite, your body would register leaves power. the wave would mash and kill you. as a survivor to the wave, it's not until 200 30,000 people in 2004. and it killed the 2004 people in fukushima, japan. that is very real. well, yes and no. imagine you were a molecule in the atlantic ocean. like a termite, you follow the local rules. you do what your neighbor is that you should do. in a circle anywhere from 3 feet to 163 feet. first you circle u