j.p. morgan chase reportedly reaching a tentative $13 billion deal to settle civil investigations into the bank s mortgage-backed securities business. remember that? the biggest amount paid by a financial firm in a settlement with the united states government. and this isn t j.p. morgan s first time settling with the u.s. government. the largest u.s. bank spent billions in the last two years alone. here with more is the host of varney and company, stuart varney. this is to settle civil problems but they still could be on the hook criminally? this latest $13 billion fine, settlement, call it what you will, does not include exclusion of possible criminal charges down the road. in other words, these bankers at j.p. morgan could be subject to criminal charges later. they have already paid out this $13 billion. that s the settlement
republicans want to keep them in place. same argument all over again mid-december. the people are talking about democrats want this, republican want this. all we should talk about is getting our budget in line. how to do that should be interested. they ve already raised taxes. why is it okay to raise the debt ceiling? i think that the level of public frustration and anger is as high as i ve ever seen it. it s really intense out there. people are royally annoyed at what s going on. they want a deal. they want a deal, but what does that deal look like? we ll see what the house says about this. we re going to watch varney and company at 9:20 today. four minutes before the bottom of the hour. straight ahead, a christian ministry labeled a hate group on the same playing field as the kkk. we take a closer look because we should. a man told he was too heavy for one airline seat, so he needed to buy two
at: accounting. their explanation is this. one of the causes of these improper cases or kwrepbts around the complexity of the code. steve: the complexity? how can the i.r.s. be expected to handle obamacare if it s too complex? joining us is the host of varney and company. stuart varney. let me explain something here. the earned-income tax credit is not complicated. it is corrupt. the earned-income tax credit steve: then the i.r.s. isn t good at it. brian: how do you define it? if you work on the books, you ve got a job but you earn very, very little money, you get a check from the government. it is to make up. essentially a tax credit in the form of a check from the government. we hand out $79 billion every january to these so-called poor people who get a direct check from the taxpayer. that s not complicated.
down. steve: his problem was he is a keynesian. that means get a bunch of money and throw it out there and it s going to revive the economy. that didn t work with the stimulus because ultimately what they did is they targeted a bunch of industries that didn t work. anybody who wants to see america to return to what it ought to be to dynamic, vigorous, 4%, 5%, 6% growth, low employment, get out and compete, anyone who wants to return to that will be dismayed by the rise of larry summers. steve: the new normal every day at 9:20 tune in to watch this man in varney and company. meanwhile, murdered in paradise. one of america s favorite tourist destinations now a crime scene. the man who got the scoop on the deal brokered between friendimies.
is in retreat. he said you re not going to get a cure for cancer, instead of demanding tax increases from the republicans. he s desperate. brian: the military has taken enough on the chin in this entire process. 50% of these cuts have been to the military already. they should cut it out of the $2 billion worth out of obamacare, money set aside to sell obamacare to the american people. which they are not going to cut. or the near $1 million that the federal reserve spends on empty accounts in servicing them. the list goes on. steve: obviously this has blown up in their face. check out stuart s show. he works in the next studio but you ve got to go to another channel to watch it. he s on fox business, varney and company 9 #:20 # eastern time. brian: the same folks in congress who didn t read the bill but passed it any way are about to get a pass on obama care. steve: does breathing