Join us on twitter at aj real money. Americas biggest bank makes history by signing off on americas biggest legal settlement ever bin a single entity. Jp morgan paid to pay a whooping 13 billion to resolve claims over the sale of toxic securities that helped implode the Financial System back in 2008. 8 billion will go to settle claims made by various federal agencies. Another 1 billion will go to five states who sued the bank. But heres what may be the most interesting part. 4 billion will go to consumer relief. Of that 4 billion, half will go towards actually reducing the principle on jp morganheld loans where the value of the mortgage is higher than the value of the house. Some that have money will be put towards restructuring some mortgages to reduce the homeowners monthly payments. And out of the remaining 2 billion some will go towards subsidizing new mortgages for low to middle income borrowers. Some may go to cleaning up properties in distressed areas or tearing down abandoned foreclosed homes. Now this deal between Jp Morgan Chase, a civil suit that claimed jp morgan packaged shoddy mortgages, and now the settlement covers claims against bearsterns , it doesnt absolve it in the future of fraud. But what the settlement does allow is for the bank to claim Tax Deductions of 7. Billion dollars of the payout. Those deductions could save jp morgan 2. 2 billion in taxes related to the settlement. Thats according to an analysis in the wall street journal attorney general eric holder said the probes of big banks is far from over. That leads to not whats next, but whos next. We go to bethany m mcclane an effectiv investigative journalist. The author of a new book. Do you have any sense today that as a result of this highly anticipated deal that something is better in the world . Ii would love to be optimistic, but i question that. So 4 billion going to homeowner relief, thats great. Its fantastic, but its a drop in the bucket. The last estimates i saw i think its better now, but some 700 billion of underwater mortgages in the wake of the financial crisis, 4 million is a drop in the bucket compared to that and honestly the really important thing is deterrence for this kind of behavior going forward, not policing of past behavior. The policing even when aggressive as this action is, only goes so far to righting the wrongs. We just dont want it to happen any more. We dont want the government to be extracting fines after the fact. Before we get to whether were doing good for the future, it was said today that this is going to mean that other banks will have to pay up. What do you think of that . Well, i think it definitely means other banks will have to pay up. Jp morgans payment is based at least in part on the acquisitions of two forms. Washington mutual , and bear sterns, and they were not good actors in all this, but there were others who were every bit as bad, bank of america acquired countrywide, and some of the mortgages that country wide was making was toxic. You have to believe that there is more money coming forth. One of the things that, quoting todays settlement is a major victory in a fight to hold those who caused the financial crisis accountable, is that true . Well, i dont think so. Heres why, you have to keep in mind that this money is coming out of the pockets in effect of jp morgan shareholders. Its not coming out of the pockets of the executives who made the bad loans or the those who packaged these bad loans and sold them on to investors. Its not coming out of their pockets. Its coming out of the pockets of shareholders p. Vanguard, wellington, all the big mutual fund, namely all of us. The actual people who perpetrated this arent feeling any affects whatsoever. Now the criminal investigation is ongoing, but if it does, my bet would be maybe im not optimistic enough, but the criminal investigation might sweep up lower level people. I dont know thats going to change the culture of finance in this country. The question of accountability, its one again on twitter when i sent out word on settlement, people said, no one is held responsible. How do you apportion blame. So many things went wrong at the same time, who are we supposed to think is to blame for this . It is such a hard thing. As people in particular this instance you always want the one villain, the person you can hang up by the boots and say, this is who did it to us. But this was decades in the makings. So many people were accountable from regulators to mortgage lenders, bangers, yes members of congress who looked the way, and in some cases homeowners. Its hard to find that one person to blame and assign accountability. Im a big believer in individual accountability. Corporate accountability just means shareholders money. You said it would be better to resolve this rather than reinforcing and assessing fines. What is the best thing that could happen to stop this from happening again . That is the question, isnt it . You know, i wonder because in the wake of the enron disaster and all the other corporate wrongdoing in the early part of this century there were really aggressive prosecutions, and everyone saidi wrote my worst piece ever saying now that these enron convictions it will change corporate behavior ever. This was 2006 just as the financial crisis was about to happen. It didnt do much to change behavior. Even when people look to aggressive prosecution, i dont think it does. When there is so much money to be made in the short term by doing the wrong thing, its against some aspects of human nature to think that some people will do the right thing. The incentives, bethany, thank you so much for talking to us on this. Bethany mclain is author of all the devils are here. The paris based group of dozens of Government Cut its for cast for Global Growth for this year and next as partially because they worry about the effect of the Federal Reserve stopping its bondbuying program. They also warned brinksmanship over policy in the United States remains a key risk and certain certainty. Fiscal policy means the budget. The debt ceiling should be abolished,cying a fight over it , saying a fight over it could bring another recession. Even when the fed pulls back on its bond buying program, the central bank will keep current federal funds rate at level. Its been kept between 0 and. 25 since 2009. No doubt youve noticed your grocery bill getting bigger over the years while your paycheck hasnt. Why americans are stuck in a rut and what can be done to fix it. And that addictive game about candy and well look at tech ideas coming up. Evey weeknight on Al Jazeera America change the way you look at news tune into live news at 8 and 11 im John Seigenthaler and heres a look at the headlines. Infomation changes by the hour here. Our team of Award Winning journalists brings you up to the minute coverage of todays events. Then, at 9 and midnight. America tonight goes deeper with groundbreaking investigative coverage of the nations top stories. A fresh take on the stories that connect to you. Live news at 8 and 11 eastern followed by america tonight on Al Jazeera America theres more to it. Al Jazeera America is the only news channel that brings you live news at the top of every hour. Here are the headlines at this hour. Only on Al Jazeera America. We find the fault lines that run through communities. The shooting happened about 30 minutes ago. Companies. The remains of the fire are still everywhere here. The powers that be at home and around the world. Not only do they not get compensation but you dont even have to explain why . Well thats exactly what i said. We question authority. So you said we could get access. Thats enough . And those affected. Investigative journalism at its toughest. A new release of the labor departments employment cost index. Before the recession employees could count on raise. But now they continue to lose ground. Adjusted for inflation, real income has fallen 8. 3 since the start of the recession in 2007. Joining me now to discuss the story state of wage growth in america. An economist and cochair on the center of wage and employment dynamics and closery tracks the labor market and published research on how workers are faring in this country. Sylvia, thank you for being with us. Youre welcome. Ive given you a picture, and you study this all the time. What is the stage of wage growth in in america when you compare it to how price have increased . Well look, workers, as you know, are falling further and further behind. Thats not just the story of the great recession. Its the story of a 40year trend now. We looked at wages, lowwage workers. Theyre making less money today than they were 30, 40 years ago. Even people in the middle of the wage scale at best their wages are stagnant. So what has happened again we have the most productive workers in the world. We have an expanding economy that is more than doubled over that period of time but where did the money go . Its not not going to the workers. So this speaks to a bifurcated economy where this is everything that america was not supposed to be where the rich are getting richer and the middle class and low income earners are stagnant or losing ground. That structural. Its been going on for 30, 40 years. Thats not about this recession. Thats right. Thats something that happened in the 7 70s when you started o have productivity. Which we loved, which we have today. Thats what gives workers real stand of living increases. But a long time ago that connection of wage growth and compensation growth for workers moving in lock step with productivity increases was broken again many decades ago. Its one of the biggest problems we have. It contributes to all the problems in our economy. Especially inequality. We simply have to do something to get the wages of workers up again. And its a touchy subject because weve seen nothing but the reduction of unionized workers, but you argue in a recent piece in a in fact, unionization will help them get the wages that they need to get. Absolutely. We know that unionization helps workers, helps their wages, helps their benefits as unions have declined, the private sic sector has unionized 7 . Hazard rates have declined so has the middle class. Corporate profits are soaring. We need to increase the minimum wage. 97. 25 in th 9its 7. 25 in the u. S. Without unions we cant turn that around overnight. This is where poll policy comes in wage policy comes in. The other thing we have to do in conjunction with that is to make sure that we expand and strengthen the bargaining rights of workers in the low and middle class. We have to absolutely have to do this. Without full employment, which is the second fed mandate, without Bargaining Power and in an economy as weak as this one has been for many years. And were very far from that point. Sylvia, very good to talk to you. Thank you, ali. All right, today on twitter and facebook ive been asking you if you get a raise this year what will you do with the extra money . Jaime said pay off my Student Loans faster so it costs me less interest in the long run. Good. Marty tweets. The amount will be automatically oh deposited in my ira like i never happened. Speaking of face book, 2012, twitter, 2013, what is the hot tech of 2014. Coming up, a closer look of five companies that may be the next big thing. [[voiceover]] no doubt about it, innovation c the target of a federal Safety Investigation over fire and electric cars. The companys ceo is slamming the media. The national Highway Traffic Administration said they had run over road debris, both drivers escaped without getting hurt. The investigation covers 13,000 cars sold in the u. S. But so far no recall. Chief executive, the billionaire entrepreneur who helped start the company tweeted, why does tesla one fire get more headlines than the gas fires that kill hundreds of people per year. The tesla finished the day 4 higher. Lets switch gears no, pun intended, and talk tech talks. There are plenty of companies with names you might not know that are creating buzz among investigators because of their hot technologies and growth potential. We had this look at five promising tech firms that soon may take the big step of raising money from the public. Square, the mobile Payment Company from twitter founded jack dorsey has revolutionized the way people pay for goods and services. Valued at 3. 5 billion with sales around 550 million. It allows Business Owners to use their smart phones to accept payment no matter how small the company or untraditional the setting. I think square is one of the companies that will get a lot of fanfare given the pedigree of its founder and technology that people are seeing more and more. The ceo of cb insights is a firm that tracks ipos. He said 2013 saw a resurgence of tech ipos, and 2014 looks bigger. The environment has not been receptive to tech ipos, and Many Companies were forced to stay private longer figure out their business models, grow. Now that the market is more receptive, many will be able to test the waters. Seamless, a mobile app that allows the ordering of online. The combine company processes 130,000 orders a day for expected revenues of to 200 million. The most valuable ipos will likely be Companies Like box, a company that focuses on businesses not consumers as a client. It helps businesses and individuals around the world store their files securely, effectively and cheaply. It started with internet billionaire mark cuban. Box falls into a couple of really sweet spots right now. I think cloud is a hot topic, enterprise is a really hot top topic. Another enterprise company, modestly claims to solve the hardest problems. Using Data Mining Software is helps to lower healthcare costs, fight crime and allowed banks to more accurately determine the value of a home with more than 200 corporate clients that range from the nsa to Jp Morgan Chase and valued as high as 8 billion. These are companies in your daytoday life youre not going to come across but they sell into very large markets and make significant amounts of money. You probably havent heard of the British Company king but chances are you used its most famous product, candy crush saga, its top grossing with more than 225 million monthly users. But investors are still wary. Despite bringing in more than 300 million a year from just candy crush alone there is healthy skepticism that king can maintain sales in the world of gaming. Al jazeera. Okay, let me be clear. Telling you about hot Tech Companies is not a recommend additio recommendation that you buy stock in them unless youre a powerful Institutional Investor or a big mucky muck. For more on what is hot in social media lets turn to a man who spend every day talking to entrepreneurs in the tech space, a Network Offering services and support to several hundred Business Owners between the ages of 21 and 40. Welcome. Should my viewers be thinking about these at investments . Absolutely. Diversifying your portfolio and so forth, its good to know whats working in the market and what has longterm exit potential. Some of these things make sense, some dont. I use seamless all the time. I should recuse myself i use it that much, but its an ordering system for food. Its 2013. This games and ordering systems for foods, have these kinds of values . Absolutely. You can have the argument about what is valuation today, and thats a totally separate debate over over valued versus under valued. The models day are things that are making it easier, faster, better, cheaper to get ageold services to consumers in new ways. Thats scale acting massive rates and push businesses faster, make sure theyre doing business in innovative ways. You make an interesting point. This is one that everybody should listen to. Valuation is a different conversation whether or not these stocks are worth buying, priced right, whether these ipos, keep them separate whether theyre interesting businesses. Interesting businesses like seamless, uber, task rabbit, they are all things that you thought existed but theyre making them more efficient. And they have revenues behind them. The problems with the tech ipo market was the scare of is there money in this company . So i think youre seeing a lot of these business models, marketplaces and so forth that are finding ways to monday monetize and show investors that they can make a profit. What do you look at now in companies that are pre public or going public that are going to be commonplace in 15, 20. Everything from your health to your time management, all these things that can now be controlled can be seen by an app or mined by a business that can create a better you. Well see businesses along that line. The commodityization of human labor, the outsourcing becoming the norm, how do we get this person to this company . How do we get the guy who is going to write pr material to the guy who is going to code your website whether they live in timbuktu, the carolinas or in your hometown. And health, how were creating new Health Models and how we are getting people to the right health services. These things are huge. Back to your first one, quantifiable self. I like that. This Wearable Technology is our first to that. How do you use the data youre mining as a result of this Wearable Technology. Everything from a sticker that you put on your hand that tells you your heart race, and google glass that can tell you your movements, take a picture on the go or learn what makes you more efficient at your job. At the end of the day these are things that make people better, faster and cheaper. You made it exciting for me. I came into this segment a little jaded that these tech ipos are dominating our discussion, and now im excited begin. I appreciate that, scott. Thank you. Scott is the founder of the young entrepreneur council. Final thoughts tonight. We are all looking for the next big tech ipo as we were talking about. Above and beyond the twitters and facebooks of the world. Whether or not you decide to invest in twitter stock, i want to take stock of how powerfully they have influenced our world. Check this out. This is the twitter the day that it went public. It was done at 9 30 in the morning. But my point isnt about the ipo. Its about the selfy. Twitter has inspired a world of selfies. Thats a picture that you take of yourself. Today is a poignant moment for the selfy. Oxford dictionary has picked selfy for word of the year. Now stiff competition. It beat out the word twerk and bit coin and another worthy meaty words. Our selfy posting madness has been legitimatized by the establishment, and whether or not you choose to invest money in twitter or facebook and other selfy enablers, at least honor them tonight with your own celebratory selfy. Thats our show for wednesday. Making driving safer by taking the driver out of the car. Im ali velshi, thanks for joining us. Welcome to Al Jazeera America. Im stephanie sy in new york. Here are the top stories at this hour texas antiabortion advocates got a temporary victory. The u. S. Supreme court agreed to keep tough abortion plans in place while they are being appeal. It requires to have abortion doctors to have admittance privilege in new by hospitals. Voters in albuquerque rejected a band on lateterm abortion. It is home to one of a handful of clinics that perform lateterm abortions. President obama is under pressure over the healthcare