Melissa happy friday to you. I am melissa francis. Lori and i am lori rothman. We will tell you how to protect your investment. Melissa how worried is business . U. S. Chairman joins us in just a few minutes. Lori boeing 787 dream liner is safe. If boeing stock safe for your portfolio . Melissa if your new years resolution is to get in shape, this one will hurt. The gym membership, at that price, they better be working out for me. [ laughter ] all right, time for stocks now as we do every 15 minutes. Lauren a sibling that he is standing by. Stocks struggling today. Holding this titrating pattern for much of the session. The dow is up seven points. Energy is flat. Lets take a look at wells fargo. Profits hit a record high. That is good. They are not doing as many mortgages. They are the nations biggest lender. You can see it is down by one and a quarter percent. Cheryl how did last years drought play out . Jeff it was pretty wild in here today. Five of the past six years, this has been
Susie entirely without legal merit, thats what standard and poors is calling a potential lawsuit by the department of justice, for s ps mortgage bond ratings ahead of the financial crisis. These charges come five years after the financial crisis and would be the first alleging illegal behavior by a major Ratings Agency. As darrensh ger reports g, s p is fighting back. Reporter what took so long . Thats the reaction from critics who have long argued standard and poors gave a stamp of approval to flawed Mortgage Securities that helped bring on the financial crisis. It has to do with the unique role that ratings agencies play in the entire system of selling and distributing securities and the claims that they made about their role for which they were paid handsomely. Reporter in a statement, standard and poors said the Justice Departments lawsuit had no legal or factual merit. Saying it would disregard the central facts that s p reviewed the same subprime mortgage data as the rest of the
His name is slightly altered, do. Its not, but i have great sympathy for an organization when they go back to an Intelligence Agency and get stiff arm three times in a row i dont know if thats the case, thats my point. I think it is relatively common, but again what it is in this case or in a case there will be cases the fbi closes. How do we spread that responsibility, share that with the state and locals so of the resources can keep an eye on it and how long . Right now the Fusion Centers frankly are not doing a great job of picking that up because we havent told them to do that. The jttf rules make it difficult, not impossible but difficult for the information to be shared so the mayor of new york or ray kelly or ed davis or the Cambridge Police chief can decide, you know what, this is worth my time and energy even if its not worth the fbi. We dont want the fbi making that decision. We want the state and local authorities making that decision because they know if they want to guard
What s p claimed at the time it stamped securities triple a. The ratings agencies claim that they have unique analytic abilities and very sophisticated models that enable them to determine the credit worthiness of a bond, a derivative, a security. Reporter s p points out Court Rulings have dismissed what it called challenges to a Credit Rating made with 20 20 hindsight. If the Justice Department does sue, standard and poors says it will vigorously defend itself. Darren gersh, n. B. R. , washington. Tom still ahead, tonights word on the street consumers, the street. Coms David Peltier joins us with some Consumer Product stocks, worth shopping for now. One trading session after topping 14,000 the Dow Jones Industrial average turned back, thanks to analyst downgrades of dow stocks walmart and chevron. The blue chips fell 129 points, the nasdaq lost 48 points, the s p off 17. 5 points. Susie Big Stock Market selloffs like todays, are rough for Retail Investors. Thats especially true becaus
What s p claimed at the time it stamped securities triple a. The ratings agencies claim that they have unique analytic abilities and very sophisticated models that enable them to determine the credit worthiness of a bond, a derivative, a security. Reporter s p points out Court Rulings have dismissed what it called challenges to a Credit Rating made with 20 20 hindsight. If the Justice Department does sue, standard and poors says it will vigorously defend itself. Darren gersh, n. B. R. , washington. Tom still ahead, tonights word on the street consumers, the street. Coms David Peltier joins us with some Consumer Product stocks, worth shopping for now. One trading session after topping 14,000 the Dow Jones Industrial average turned back, thanks to analyst downgrades of dow stocks walmart and chevron. The blue chips fell 129 points, the nasdaq lost 48 points, the s p off 17. 5 points. Susie Big Stock Market selloffs like todays, are rough for Retail Investors. Thats especially true becaus