Hirchfeld coman, george b. Hail, the wallach family, the cheryl and Phillip Millstein family, rosalind p. Walter, Pacific Islanders and communications. Corporate funding is provided by mutual of america designing customize joint and individual insurance products. Thats why were your retirement company. Brought to you by the corporation of public broadcasting and for contributions to your pbs station from viewers like you. Thank you. From the tish wpb studios in new york, hari sreenivasan. Good evening. Thanks for joining us. We begin tonight with a closer look at the tentative deal reached yesterday between the Justice Department and jp morgan chase. The agreement would require chase, the nations largest bank, to pay a record 13 billion penalty. It stems from allegations that chase knowingly sold mortgages to people. It was between direct talks of jamie diamond, the chief executive officer. Were joined with the reporter from bloomberg news, has been following the chase story for some time. Beside the 13 billion number, why is this so significant . Were seeing kind of a sea change right now for wall street and its relationship with washington. The Obama Administration has gotten nothing but criticism for not going after banks hard enough for the financial crisis, and now what youre seeing is a little bit of catchup. Some analysts think that because banks are healthier now, theyre better positioned to absorb these losses. Thats why youre seeing the administration kick up pressure on them. Youre also seeing, for jp morgan, this resolved a number of investigations, but this resolved about five different investigations against jp morgan, one of which was an actual lawsuit from the federal Housing Finance agency. That was for losses that fannie and freddie incurred on bad loans that they bought from jp morgan, from bear stearns, from Washington Mutual that they bought from those two entities during the crisis. So youre seeing a very dramatic and very tough stance in washington against bankers in general. So part of that is defined as 4 billion released for consumers. Whats that mean . Were not quite sure how thats going to be structured yet. What we do know for sure well, what were trying to figure out, really, actually, is how it affects bondholders. Because the people who lost money on these investigations are the bondholders. But it doesnt look as good if the u. S. Government gets money back for billionaires like bill gross at pemco. So what we believe theyve done is theyve structured some sort of mortgage release, maybe principal reduction, maybe Interest Rate reduction. It doesnt hurt the bank as much when they structure it that way so the bank can give more money towards that because its tax deductible. It also, i dont believe, has to recognize all those costs up front. And so thats what were trying to figure out. So one of the distinctions inside this is that chase is not immune from criminal investigation. No. Why that clarification, and is that going to have an impact for investors on monday . It may have an impact for investors, not likely necessarily immediately on monday. You may see the stock move a little bit, but the impact would be later on if the Justice Department decides to go forward with some sort of deferred prosecution agreement. Chase is already under a deferred prosecution agreement for activities in selling bonds in alabama, two municipalities there. So their Municipal Bond sales practices have already come under criminal scrutiny and theyre already under an agreement there. This would be another similar type of investigation with the same kinds of ramifications, also executives might be at risk as well. Speaking of executives, jamie diamond has been kind of a polarizing figure. On the one hand, chase has had 70 stock growth since the financial crash in 2008. On the other hand, its just penalty after penalty after penalty. It is. Jp morgan has gotten credit from investors large investors and its board of directors for being a good manager, for making good money. They made a record 4. 2 billion. Theyre one of the most profitable banks in the world. Theres no disputing that, however, there is penalty after penalty after penalty. These arent things the government made up, these are things the Company Actually did wr wrong, in some cases admitting wrongdoing. They manipulated some markets in california, they admitted to mistakes in the london whale loss last year. Theyre under investigation for their hiring practices in asia. Theyre a whole host of things and the company is trying to hitten the internal controls, but what some people have thought is maybe they werent in as much scrutiny before because theyre so well managed, and now this is just the federal government catching up to all of that. Dawn kopecki in bloomberg. Thank you so much. Thank you. They aired their differences in what turned out to be the failed strategy of trying to roll back the Affordable Care act by shutting down the federal government. Senator ted cruz, who led the campaign to try to undo the law, left open the possibility that he would try the same tactic again. Will you rule out pushing to the brink of other shutdown by saying you would block funding for government unless obama care is defunded . Would you do that again . I would do anything, and i will continue to do anything i can, to stop the train wreck that is obama care. Two other prominent republicans, former Florida Governor jeb bush and senator john mccain also rid kuld ticul president s legislation. They pointed out difficulties signing up for the health care under the governments website. Have a little bit of selfrestraint. It might actually be a politically better approach to see the massive dysfunction. But we dont even hear about that because weve stepped on that message. We the republicans like it keep up with that fight, but we have to latershot it, rather than hitting some vehicles but we were released. They were set forth after prison officials. They will now check back with judges to confirm early releases before setting prisoners free. A major bribery scandal is unfolding in the navy. The Washington Post reported that two highlevel Navy Officers have been arrested. Federal prosecutors allege that a defense contractor, based in singapo singapore, provided cash, Luxury Hotel Rooms and prostitutes and maybe personnel in exchange for classified business that led to money from the firm. That word today from the arab league. Secretary of state to meet with Syrian Opposition groups. In syria there was another bombing at a Security Check point, the second in two days. A suicide bomber blew himself up in a truck. Most of the victims were civilians even though military personnel were the targets. In australia, theyre struggling to destroy wildfires that have destroyed hundreds of homes. More than 6 fires are burning. Wind is like toll increase in the coming days. 15,000 people have signed a petition circulated urging candy manufacturers to stop using artificial dyes. Some studies show a likeness between consumption of the dyes. Some use natural colorings in products sold there, even though they sell the same products in this country with artificial now to our signature segment. It may surprise you to learn that almost 90 of all corn grown in the United States has been genetically modified. Industry Officials Say that ensures higher yields and protects crops from drought and infestation. But this requires a great deal of testing, and that means pesticides are applied frequently. Its all led to an ongoing dispute in hawaii where the gentle climate allows for planting much of the year. Many people there say thats making them sick, and this past week, activists won their major victory against the battle of the Seed Companies. Megan thompson reports. Reporter the Hawaiian Island of kauai is known as the garden isle luring hundreds of thousands of tourists to its lush northern shores. Fewer make it to the dry side, where farmers have lived for generations and where farming has always been a way of life. Today these Bio Companies have been making different foods. The prevailing winds here blow out of the northeast and residents here say when those winds blow, they bring dust and pesticides from these fields down to their homes. And some believe thats making their children sick. In 2007, i gave birth to my son. And within a day, we realized he was seizing and we found that his brain had hemorrhaged and he lost the whole entire right frontal lobe. Sixyearold lacona dickinson still has seizures, according to his mother. After consulting with a blood specialist, she wornds if his whole prasz didnt live here the whole time while im prouding. Sdplz you dont know for sure what the cause was of your sons illness. No, and that scares me. And i cant know because theyre not disclosing anything to us. A battle has erupted over the seed farms. More than 150 residents has sued pioneer. Though pioneer declined to comment on the litigation, the families concluded that dust and pesticides permeate their homes. Thousands of others on the island demonstrated. And pack county Council Hearings in support of, imposing new rules around the growers. It forms buffer sides and force them to tell what pesticides theyre using, how many. Zs there is strong an he can. One pediatrician wrote in an email that he had observed for less epidemiological status would be needed. Tell us what youre spraying, what youre growing, and then let us the fantasy. He got involved. They took her next to the field emergency room, complaining about dizziness and nausea. This is serious stuff that deserves our attention and deserves to be dealt with now. The Seed Companies and their employees cant enforce to fight the bill. I want people to know that we are good people and we do the right spring. And that, repeeling their form. They said other requirements could threaten their operations and the hundreds of jobs they day the ccompany. We all lived as a community, you know. Close to 20 of the islands usable farmland they have. Seeds are a big gis in the state is 2 249 million a year, more than triple the other commodity, sugar. Mark works for sargenta and works for the trade group which represents sargenta, dow and pioneer, a subsidiary of dupont. Were here 365 crops a year, and we only do something 10 to 12 to develop, we can do it here in three to four years. He has sent. Today almost the of the corn growing in the United States, the technology has brought in economic benefit of more than 24 billion to. You can see there is a taj to her r too. Exact line its call. You can see theres no ear damage at all to this area. Its beautiful. Own though the seed compan s companies. That includes the application of several called. Chemicals regulated by the epa can only be handled by experienced people. We were very careful in how we apply the pesticides. We measure wind direction, wind speed. Its not of any advantage for us to have things drift out anywhere. Zaz. Some information on whats being spread as started. But the Seed Companies, who spent millions of dollars in research and development, shared more on the specifics. On an annual basis, are any of you willing to disclose that amount . Ill take the silence as a no. The people in our community here have been asking for a few years to know what pesticides are being sprayed by the Seed Companies here. How much, not. The recent is not but as far as competitiveness, far discloer of. The in gred yents youre using that i might not be using, we each have a competitive. Probably the first people in the community that would get sick would be our workers. And theres no indication of that. Phillipson also points to a recent study by the Hawaii Department of health, showing cancer is no higher in kauai than other parts of the state. Other tests showing water tests to be safe. But they are accused of not following spraying guidelines close enough. The attorney in the pioneer lawsuit says this video they shot shows pesticides blowing off a field near town. Even though the pesticides are the same ones used by farmers in the midwest, for example, critics point out theyre being applied during more months of the year here. How can you tell me i dont have a right to know what theyre spraying . Thats why some residents, including local doctors like rich godding, believes for services are needed. We want to be very careful, and i think some of them are afraid to say anything, because theyre afraid of seeing, therefore, this is happening. Im not saying that. I dont know any and we have some problems. Can we find out more about what theyre skprag can we look the Health Problems we have in the community. Even though that bill requiring the Seed Companies to create buffer zones and disclose their spraying was passed this week, at least one seed company says its exploring. It could be time before all these residents get the information theyre looking for. Who were the big 5 and what wroel did they. It hows. Now to an brnt. The 700panl book is filled with authors and letters and thoughts that he described as the eighth wonder of the world. Joining me now is jeff griffin. He is the books associate letter . It was in 2010. It was a best seller, and how one viewer wrote, strange. Repeal the second there is revelation of his early life and wrote about making his mark on literature and society and more talk about his concerns of the moment in 190607 when he was writing it. You guys have been plowing through these documents literally for decades. Thats right, so i dont know if the discoveries are new to us. I think a lot will be new to general readers. A lot of general readers probably dont realize, for example, that mark twains was a life lived on the grand scale. But he spint spend his whole tom with to with. Its very absorbing. When you discovered some of the material in volume 2, what made you go, wow, i didnt know that . I was fascinated with his depth of understanding technologies. There is a lot of that in volume 2, special especially, i think. He was the first one to put a private home in his home the first time. You see those fab. He was fascinated by the machine that can pipe music into homes rather than wifi. If youre not aware already that hes a committed anti imperialist, then that will come as a surprise. There is a good deal of that, his education against the bell congo, and his feelings about you in the phillipines. So twain shares his thoughts about politicians, and we were just on the brink of a government shutdown. What would he say about politics and Politics Today . He died in 1910, so why is it his memoirs have only been published in recent years. Parts of this memoir have been published before. Parts of them were published in 190607 despite clements statements in the book about keeping it back for 100 years. Other parts of it has been. This is the first time the full week has recovered without editorializing. Edward griffin, thank you for joining us. This is pbs news hour weekend sunday. Finally, another in a series of reports about the mistreatment of animals. Tonight fishermen off the coast of peru harpooning dolphins and using them as bait to catch sharks. A peruvian fishing boat headed into deep waters to hunt for shark. Especially blue shark. Its auld dangerous, winter oceans. They have permission to use the shark bait. When the harpoon strikes home, it doesnt kill the dolphin. As the fishermen reel it into the boat, its still alive and still in pain. Finally they haul it onto the deck with a spike. In peru, nowadays we have the worlds biggest illegal wild life slaughter on the stations going on. Now we have the pictures. We can see it and we can prove to people this is happening with thousands of dolphins per year getting killed. He estimates 3,000 dolphins a year are killed. Other experts say more. This meat is not for human consumption but to provide fishermen with cheap bait to attract sharks to their fishing lines. We showed these pictures to conservation experts who say killing dolphins like this was inhumane and unnecessary. You can use fish guts, all sorts of things, to bait your hook. You dont need to use an incredible animal like adults. Its an awful waste. The talk about a highly intelligent, social feel animal. Join us tomorrow on the news hour on air and on line. Samesex weddings begin in new jersey for the first time, and well update where gay marriage stands in other states. Yesterday on facebook i shared an image of fall from my neighborhood and asked you to do the same. Heres a look at some of your contributio contributions. Thanks for watching. Pbc news hour weekend is made possible by joyce b. Hail, the wallach family in memory of miriam and ivan d. Wallach, rod lind p. Wa roz lind walters. Designing customized individual and Group Retirement products. Thats why were your retirement company. Additional support is provided by and by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. Thank you. This week on Moyers Company the government of the United States is distracted. Obviously, if its going to now have a rolling every couple of months crisis and a rolling discussion of these issues, it cant do any of the other things that the world would like the us to do. And we want to be in touch with more and more people, carefully kept at bay. Not too close, not too far, just right, edited, made with our communications edited, made perfect. Goldilocks. Announcer funding is provided by Carnegie Corporation of new york, celebrating 100 years of philanthropy, and committed to doing real and permanent good in the world. The kohlberg foundation. Independent production fund, with support from the partridge foundation, a john and polly guth charitable fund. The clements foundation. Park foundation, dedicated to heightening Public Awareness of critical issues. The herb alpert foundation, supporting organizations Whose Mission is to promote compassion and creativity in our society. The bernard and audre rapoport foundation. The john d. And catherine t. Macarthur foundation, committed to building a more just, verdant, and peaceful world. More information at macfound. Org. Anne gumowitz. The betsy and jesse fink foundation. The hkh foundation. Barbara g. Fleischman. And by our sole corporate sponsor, mutual of america, designing customized individual and Group Retirement products. Thats why were your retirement company. Welcome. My guest, martin wolf, says the us debt ceiling is the
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