sue is at the new york stock exchange and check in with us in about ten seconds. also today, jamie and the whale and ina and the new guy now in charge of that unit over there in london that lost $2 billion. president obama s spokesman weighing in on the case. we ve got it all covered. let s start first with sue at the corner of wall and broad. sue. and you said it, ty, it is a down day. there were earlier on an awful lot of losers on the big board with about 25 to 30 dow components lower. dmodties getting roughed up as well. we ll get to that in a minute. we re going to talk stocks with bob pisani. i m impressed by the fact the market has managed to come back so considerably. we were down 1 0 points earlier this morning. yeah. almost 160. we ve gained back 60% of that. and it happened even before the markets closed in europe. we had a nice spike up when that happened. industrials have rallied. some tech stocks have rallied. there you see, i think the bottom line, sue, the
couple of years. over the past six months, if you re in the market, you re making money. real dollars are at stake here . if you put $100,000 six months ago, you d have $113,120. if you made the same investment two years ago, you re up more than $18,000. you d have $118,000 right now. just some food and money for thought. all day we re running through traditional investments so you can see how well you ve been doing or not. let s go right now to mary thompson with some breaking news. hey there, tyler. the meeting that was held here at the new york federal reserve right over my right shoulder just concluding. it was a rare meeting. the ceos of a number of the nation s top banks called here by federal reserve governor. he wanted to talk to them about the stress test. they had some other things like new regulation and how it might impact their economy and their businesses are on their minds today. we caught up with jpmorgan ceo jamie dimon after the meeting. this is what he ha
this 1st of may. bank of america reportedly cutting 2,000 elite-high paying jobs. fast enough to keep investors in the stock. new york city pensions taking a stand against walmart. they re voting nearly 5 million shares against five directors including the chairman and the ceo. groupon rose up. two new accounting professionals. is this with the ceo meant when he said the company had to grow up as he took those swigs from the beer bottle. and rupe rexed t murdoch called not fit to run his company. but first up, bank of america reportedly raising investment banking, commercial banking and nonu.s.wet wealth management units. of course, they ve already announced some 30,000 layoffs, david, and the journal headline, the top of the front page, is that the moneymakers are being let go. i wonder why? money making is all about return on capital. and that s a key here. investment banking is under pressure. there s no doubt about it. we ve talked a lot about compensati compens
30,000 employees of the company. the new york times feels they just were salivating client on the street we re as small as they want us to be. because, you know, how many you re not small enough to be affected like we hear about dodd frank hurting all the small people can pile on the goldman banks, are you? that s the latest narrative, after the last three or four years and now they have someone inside the firm in the london that dodd frank is going to help the big banks but crush the little local competitor. office willing to spill. who knows what motivates people? you see disgruntled and you don t want to it doesn t invalidate any of i will disagree with that. his complaints but it certainly it s going to hurt everybody, the small and large. it s going to hurt everybody. makes you look. everybody has an opinion about where they work. you don t even take that sure. you are talking about the times decision to publish narrative. but as far as what you had t
these members of occupy the highway who literally walked from wall street to k street and then capitol hill late this morning. so when is washington finally going to get the wake-up call? joining us now is bethany mcclain, contributing editor for vanity fair and contributing editor for reuters. welcome. hi, how are you? good to see you. look at these disparities between, you know, the 99%, the struggles we re seeing and the kind of growing expression of frustration and anger around the country and then more and more news about congressmen being able to trade on inside knowledge, you know, playing by rules that don t apply to the rest of us. wall street bankers on the same ride on bonuses. what s it going to take to to get a serious response to these issues? well, i think it s going to take a real willingness to tackle a really tough issue, and i think a big part of the