it is $5.8 billion and counting. that s how much the nation s biggest bank said it lost so far from a complex trading scheme that was supposed to hedge against risk. the updated figures came in as the ceo jamie dimon personally briefed analysts on second quarter earnings which still managed to beat expectations. team coverage this morning, alison kosik live at the new york stock exchange to explain how this could impact all of our wallets. let s start with felicia taylor. you re at jpmorgan chase headquarters in new york. we have a healthy bank, o do we have a healthy bank i guess judging by overall earnings? reporter: actually, we do. the point is let s look at the numbers and what we know now as a result of that risky trade. as you mentioned, a $5.8 billion loss. nevertheless, the company was able to absorb the losses and make $5 billion in the second quarter. so when you talk about the health of the bank, no question about it, they had earnings that outpaced expectation.
of deja vu all over again on the floor by staging a repeat of the health care reform. we on this side of the aisle care about the health care of the american people. that s why we re here. that s why i brought this bill forward, along with and on behalf of my colleagues. welcome to groundhog day in the house of representatives. as a physician, one of the tenets of medicine is first, do no harm. sadly, the president s law does real harm. we are joined now by one of the republicans who backed that vote today, congressman, thank you for being here. i have all the respect in the world for your party having the right to oppose this law, overturn this law or take whatever steps you want to on that front. but everyone today knew this was a show vote. why do you take part in such a thing? in the aftermath of the supreme court ruling where it s very clear this is a massive tax hike that s going to hit every part of the american economy, 21 new taxes little every one of our e
we, on this side of the aisle, care about the health care of the american people. that s why we re here. that s why i brought this bill forward, along with and on behalf of my colleagues. welcome to groundhog day in the house of representatives. as a physician, one of the tenets of medicine is first, do no harm. sadly, the president s law does real harm. we are joined now by one of the republicans who backed that vote today, congressman charles kustanik. thank you for being here. i have all the respect in the world for your party having the right to oppose this law, overturn this law or take whatever steps you want to on that front. but everyone today knew this was a show vote. why do you take part in such a thing? in the aftermath of the supreme court ruling where it s very clear this is a massive tax hike that s going to hit every part of the american economy, 21 new taxes little every one of our economy in light of the fact that we have 41 straight months of high
washington while bankruptcy burns across the nation. san bernardino, california, is the latest american town unable to pay its bills. the math $46 million in debt. they ve made drastic cuts in employees and services. and the city according to the los angeles times has only $150,000 in the bank. that s it. residents are coming unhinged saying, why wasn t this calamity headed off at the pass? what about two years ago when they took $10 million from the employees? what were they doing then? now the city is forced basically to file bankruptcy because they have this tremendous amount of debt over their head. in the last 14 days, two other towns near los angeles have gone into bankruptcy. other places across the country have done the same or tried to in idaho, alabama, pennsylvania, rhode island, dozens of other local and state governments have made dramatic cuts just to try to stay solvent while they wait for the economic recovery to help with terrible budget shortfalls. and y
good evening. i m tom foreman filling in for erin burnett. outfront tonight, fiddling in washington while bankruptcy burns across the nation. san bernardino, california, is the latest american town unable to pay its bills. the math is $46 million in debt. they ve made drastic cuts in employees and services. and the city has only $150,000 in the bank. that s it. residents are coming unhinged saying, why wasn t this calamity headed off at the pass? what about two years ago when they took $10 million from the employees? what were they doing then? now the city is forced basically to file bankruptcy because they have this tremendous amount of debt over their head. in the last 14 days, two other towns near los angeles have gone into bankruptcy. other places across the country have done the same or tried to in idaho, alabama, pennsylvania, rhode island, dozens of other local and state governments have made dramatic cuts just to try to stay solvent while they wait for the econo