To compromise the Capital Position of the bank in any way. Reporter also today, ten major banks, including bank of america settled claims they abused the foreclosure system, seizing defaulted homes without proper paperwork. The banks agreed to fix those abuses two years ago, with a casebycase review of foreclosure practices. But that just wasnt moving fast enough, and proved too costly. Bring in todays deal the banks will pay a total of 8. 5 billion. Three billion of that will go to homeowners hurt by the banks; the rest, five billion to assistance programs like loan refinancing, for homeowners who are struggling. It helps current homeowners and its going to help the marketplace at the margin. You know, the con, if there is one, is the fact that well never, it will make it less likely now that well ever get a full accounting of the foreclosure irregularities that existed. And how widespread were they, what were the types of irregularities and what were the full dollar amounts. Reporter
To compromise the Capital Position of the bank in any way. Reporter also today, ten major banks, including bank of america settled claims they abused the foreclosure system, seizing defaulted homes without proper paperwork. The banks agreed to fix those abuses two years ago, with a casebycase review of foreclosure practices. But that just wasnt moving fast enough, and proved too costly. Bring in todays deal the banks will pay a total of 8. 5 billion. Three billion of that will go to homeowners hurt by the banks; the rest, five billion to assistance programs like loan refinancing, for homeowners who are struggling. It helps current homeowners and its going to help the marketplace at the margin. You know, the con, if there is one, is the fact that well never, it will make it less likely now that well ever get a full accounting of the foreclosure irregularities that existed. And how widespread were they, what were the types of irregularities and what were the full dollar amounts. Reporter
Stock exchange. It will happen ahead of the bell. Moving higher. Liz moving higher on speculations that the billionaire investor will make a big investment writing to clients asking them to commit a billion dollars to two new funds to invest in a major u. S. Company. Liz people think it is fedex. An economist and former finance minister was named to egyptian interim prime minister. Well an Opposition Leader will assume the vicepresident see. Pledging 5 billion in age eight. The united emirates offered 3 billion. Ashley barnes and noble is at a turning point. Resigned from his post in the companys board. The resignation came shortly after the companys earnings mess and the decision to exit the tablet market. After the bell starts right now. Liz yes, it looks like a 13year high for the nasdaq. Lets get to todays action. Managing director is telling investors to brace for more volatility. In the pits of the cme. Look, i could start with him, but both of you can weigh in. The only volatili
Past few months or even a year, it is anything but robust. The president finally apologizes for all those americans losing their Health Insurance despite his promise, but of course he hedged it, a lot. The day after the twitter ipo, jumping in the stock yesterday, so there is nowhere for the stock to go but down. Only one way for us to go here on Varney Company, and we are about to begin. When we made our commitment to the gulf, bp had two big goals help the gulf recover and learn from what happened so we could be i n tell you safety is atfer the heart of everything we do. Weve added cuttingedge technology, like a new deepwater well cap and a stateoftheart monitoring center, whe experts watch over all drilling activity twentyfourseven. And were sharing what weve learned, we n all produce energy more safely. Our commitment has never been stronger. Charles yes, were going to get to that jobs report, but first this from president obama. The other big headline for the morning and it is har
Melissa good afternoon. I am melissa francis. Lori tgif. I am lori rothman. [talking over each other] melissa that is okay. It is friday. One of the largest Power Generators and distributors in the country on why he is reluctant to rush into cheap natural gas. That is a good one. Lori indeed. One of the largest asset companies. They join us and tell us what they see as a growing threat. Our apple ipods and iphones allowed in christopher donahues house . We will see. Lori time for stocks now as we do every 15 minutes. Nicole petallides is standing by. Nicole it is not easy to keep the kids off their iphones and ipods. Not too far off from the 14,000 mark. Procter and gamble up. Their new 52 week high. These are the names that you think of. When you think energy, 52 week hi there. They did see a decline of 26 in the Fourth Quarter. They also expected a 2013 rig count to be down slightly. Honeywell, manufacturing, healthcare, technology, on the move. It is up 18 . There is a look at honey