Didnt anybody tell her didnt anybody see sundays look forward to Mondays Tuesdays to me imus in the morning gas up again and the word recession is back on the table. Good morning, everyone. Can our economy handle whats happening at the pump . Good question. Youve seen it every day for more than a month and theyve changed the signs at the gas station and prices have gone straight up. Today, triplea says regular costs 3. 74 a gallon. Were closing in on a 50 cent gain just this year. Four big population states are at or very close to 4 a gallon already. All right, now shall the impact. Every penny that gas goes up takes 1. 2 billion dollars from consumer spending, like a tax. And it comes on top of other tax increaseses that cut everybodys paycheck and will slow a weak economy and some say brings recession that much closer. Watch out. Varney company is about to begin. [ male announcer ] at his current pace, bob will retire when hes 153, which would be fine if bob were a vampire. But hes n
welcome. this past week, jamie dimon, ceo of jp morgan chase, was back on capitol hill, testifying before the house financial services committee, as he had earlier done before the senate banking committee. he was being questioned on how his bank had lost two billion dollars or more on risky trading. his reception in the house was less fawning than what he got from the senators. although many of them also are beneficiaries of jp morgan largesse, house members were more combative. you said you have a fortress balance sheet. that assumes there s something special about the way you are that made us have to worry less. but we can t assume that s going to be the case for every financial institution. but i also said that we d be solidly profitable this quarter. so relative to earnings that s not the question. mr. dimon, please don t filibuster. you didn t know about these trades. you didn t know about these losses. how do you come forward today and say the regulators s
welcome. this past week, jamie dimon, ceo of jp morgan chase, was back on capitol hill, testifying before the house financial services committee, as he had earlier done before the senate banking committee. he was being questioned on how his bank had lost two billion dollars or more on risky trading. his reception in the house was less fawning than what he got from the senators. although many of them also are beneficiaries of jp morgan largesse, house members were more combative. you said you have a fortress balance sheet. that assumes there s something special about the way you are that made us have to worry less. but we can t assume that s going to be the case for every financial institution. but i also said that we d be solidly profitable this quarter. so relative to earnings that s not the question. mr. dimon, please don t filibuster. you didn t know about these trades. you didn t know about these losses. how do you come forward today and say the regulators s
welcome. this past week, jamie dimon, ceo of jp morgan chase, was back on capitol hill, testifying before the house financial services committee, as he had earlier done before the senate banking committee. he was being questioned on how his bank had lost two billion dollars or more on risky trading. his reception in the house was less fawning than what he got from the senators. although many of them also are beneficiaries of jp morgan largesse, house members were more combative. you said you have a fortress balance sheet. that assumes there s something special about the way you are that made us have to worry less. but we can t assume that s going to be the case for every financial institution. but i also said that we d be solidly profitable this quarter. so relative to earnings that s not the question. mr. dimon, please don t filibuster. you didn t know about these trades. you didn t know about these losses. how do you come forward today and say the regulators s