to testify soon. and that day has come. we ll tell you which airline will let you use a cell phone during your flight. dramatic new developments today in the battle between washington and wall street. an fbi source tells cnn the government is looking into the $2 billion trading loss by one of the nation s largest banks, jpmorgan chase. today bank ceo jamie dimon assured shareholders that jpmorgan chase is strong and can with stand the loss. he was speaking today in tampa and played down the sudden departure of the chief investment officer or cio ina drew. while we have taken loss of the cio, no clients were affected, no customers suffered as a result of our mistakes. the bottom line is that however unfortunate this incident is we want to do what we always do admit our mistakes, learn from them and fix them. i m confident when we are done here we ll with b a stronger confident. the shareholders voted to let him keep his job. they also voted to let him keep his $23 mi
regime and the frustration of the world s failed diplomacy. we begin with the obama campaign s effort to change the subject and refocus the presidential campaign on mitt romney s business record. team obama buying tv time during the evening news in five battle ground states. wednesday night voter in colorado, ohio, pennsylvania and virginia will see this tv ad attacking the private record at the equity firm bain capital. we view mitt romney as a job destroyer. to get up on national tv and brag about making jobs when he has destroyed thousands of people s careers, lifetimes, just destroying people. he is running for president and if he is going to run the country the way he ran our business, i wouldn t want him there. he would be so out of touch with the average person in this country. our chief white house correspondent jessica yellowen is traveling with the president and the goal is obvious, defining him as greedy, cold and heartless. why is that such an urgent oba
wired. that s okay because there s lots of news this morning. up first this morning, heads about to roll. at jp morgan chase. according to bloomberg, the firm s entire london staff could be dismissed. the banking giant also expected to accept the resignation of this woman, ina drew. pulling down a salary of over $15 million a year. drew and two other company executives being held accountable for a stunning $2 billion loss. ceo jamie dimon doing damage control on sunday talk shows is. it was a stupid thing that, you know, we should never have done but we re still going to earn a lot of money this quarter. it isn t like this company is jeopardized. we hurt ourselves and credibility, yes, that we have to fully expect and pay the price for that. christine romans is here with us this morning. how much worse is this going to get? i know we were hearing about billion dollar loss, they re going to weather it. the big question is why should we care. the real damage here is f
so this all actually happened late last week when the financial giant revealed it had made this risky credit bet in the european market. so now, we re hearing three executives are expected to resign and bloomberg is now reporting morgan s entire chief investment office of london could be cleaned out. the trades are raising some very, very serious questions this morning about whether the country s biggest bank learned anything from that financial crisis. let me remind you, that was merely four years ago and what happened to the laws that were supposed to stop all of this? that s one of the big questions we re asking this morning. many of the rules created by the dodd-frank bill still aren t in place, two years later. ceo jamie dimon acknowledging this new mess could give regulators and members of congress more reason to tighten any loopholes. have you given regulators new ammunition against the banks? absolutely. this is a very fortunate and inopportune time to have this k
there s no system to not have that happen again. there will be another too big to fail. and hundreds of millions to save the economy again. not on a 2 billion dollar loss. all right. guys. all right. and thanks very much. another tsa oh, security scan e, correcting dust in warehouses rather than at airports. there s a private solution to save money and maybe even lives, too. does any mother evefeel like their kids are adults? i have twins, 21 years old. each kid has their own path. they grow up, d they re out havingheir life. i really started to talk to them about e things that are important that they have to take nership over. my name s colleen stiles, and my kids and i did our wills on legalzoom. [ shapiro ] we created legalzoom to help you take care of the ones you love. go to legalzoom.com today