right? shouldn t we blame practices in place at bank of america and wells fargo. joining me to answer that, executive business editor of the huffington post and author of past due. also shawna smith, the president of the national fair housing alliance. lynette cox who is co-founder of ask the money coach.com and author of zero debt for college grads. i ll be talking to her later. and peter, let me start with you, what is the problem of housing prices for responsible homeowners. you hit part of it already. you had this predatory system, wall street hungering for higher risk assets because the world seemed so safe in the housing bubble. investors were pouring into anything with more risk. you had a retail operation in memphis, baltimore, where wells fargo targeted people with lower
responsibility is the right approach to take for, i think, not only the united states but also for europe. okay. republicans are saying you re blaming the europeans for the failures of your own policies. the truth of the matter is that, as i said, we ve created 4.3 million jobs over the last 27 months. over 800,000 just this year alone. the private-sector is doing fine. where we re seeing weaknesses in our economy have to do with state and local government, oftentimes cuts initiated by, you know, governors or mayors who are not getting the kind of help they got in the past from federal government and don t have the same kind of flexibility as the federal government in dealing with fewer revenues coming in. and so, you know, if republicans want to be helpful, if they really want to move forward and put people back to work, what they should be thinking about is how do we help state and the local governments and how do we help the construction industry because the recipes th
how are you feeling besides wiped out there, richard? reporter: i think the next thing i ll be having is a prescription for some form of antibiotics. no, it s been amazing. look, the rain is still pouring, my suit is drenched. but we have seen over four days a carefully choreographed, constructed routine from the spectacle of the river to the ceremony of today, right through the way to the balcony at the end and the fly-past by the world war ii planes. if that isn t really showing with 1.5 million people standing outside your front doorstep, if that isn t showing an element of appreciation, i don t know what is, kyra. i m just curious, can you mix antibiotics with pims? reporter: the pims are over there. and i assure you there s plenty of them. i think what we have there were an enormous numbers of levels you could have taken over the last few days. at its most basic, a tourist attraction for people to come to london ahead of the olympics. go up a notch and you can ta
phase of the transition, the next milestone. we ll set a goal for afghan forces to take the lead for combat operations across the country in 2013. next year. so that isaf can move to a supporting role. this will be another step towards afghans taking full lead for their security as agreed to by 2014 when the everyone saf combat mission will end. and police in chicago are certainly hoping that their mission is a lottese ier today, easier than it was yesterday. what a mess. protesters opposed to the war among other things, vow to be back out on the streets again today and my colleague ted rollins is there too. so, ted, things got ugly quickly yesterday. how are things looking today and have they taken any additional measures to keep things in check? reporter: well, so far so good in terms of today. it s very quiet today. however there s a protest that s ramping up here in the next hour at boeing where protesters are going to surround the building and right now police have p
for the nuts and bolts on this fias fiasco, it s the impact on the markets and your own investments. alison kosik joins us now. just what was this massive trading bet all about? before it went south? reporter: fredricka, what jpmorgan essentially did was made a big game am. they made risky bets and lost. the bets they made were to protect against possible losses on jpmorgan s other investments, but clearly they backfired and the bets produced losses of their own. how did this come out? it came out in a surprise conference call that ceo jamie diamond called for lamon called. shares are down almost 8% right now. shares of others are getting hit hard right now. wall veit is worried about other banks wondering, you know what, if jpmorgan can do this and it s considered the stronger of the banks or the strongest of the banks, what kind of bets are the other banks making especially, once again, that aren t as strong as jpmorgan? fredricka? so the ceo, jamie dimon, had quite the