News cribber john solomon are here, joining me in the you 8 0. Earnings season rolling of on. Big banks on deck this morning. All the numbers as soon as they hit the tape and impact on markets. Broader markets pointing to a gain at the start of trading, dow industrials up 84, nasdaq up 28, the s p 500 up 10 o 10 poin. Yesterday stocks were sluggish over weak Quarterly Earnings and halted covid19 vaccine trials. At the end of the day, the s p 500 was lower by 22. Shiny now apple, the Technology Giant unveiling four new iphone 12s ss for your convenience. Coping tips from outer space, astronauts have isolation advice for the weary public and its making a buzz this morning. Mornings with maria is live right now. European markets in the green, take a look. The fq100 up 14, the cac is up 1 andahalf and the dax index higher by 15, fractional moves this morning in europe but to the upside. A mixed story overnight in asia, as chinese president xi jinping is calling for young People Living in h
Court, are you going to screw them out of that . This is not were taking this very seriously. I told our people will you let them go to court if they want to go to court . Yes or no. Were going to no but with an explanation. No, but. Okay. Thank you. Thats a no. This sham was not an attempt to steal a few Million Dollars in fees from your customer, although thats important. Because you could say that few Million Dollars wasnt material. What was material is the price of your stock. You opened 2 million phony accounts and then went and told and it had to be material because you were brackibrack i bragging about it to the people investing in your stock, that you had higher penetration rates, more accounts per customer, that the number of banking customers that had credit cards had grown from the mid20 up to 42 . So it had to be material. You were talking about it. The peak firings according to your own documents was in 2013, so you knew you had a problem then. Correct. Why didnt you tell
And the vast majority of everything we do is right. Firing the highest number of people in 2013 but bragging about your presentation penetration rates in 2014. You knew it was material to shareholders and you knew it was a funny number that you fired people phony number that you five people for falsifying. Fired people for falsifying. We did not know if those were good accounts are not. We looked at 20,000 credit you fired 5300 people. He took 5300 could americans and turned them into felons with a system that you created, benefited from and drop your stock price up by bragging about your levels of new accounts. I disagree with that. Im not surprised. We have institutions that are too big to fail. We found that they were too big not to bail. Eric holder has told us that they are too big to jail saying he fears for bringing equivalent indictment. We now learn they are too big to manage, too big to regulate. It is time to break them up. The time has expired. The chair recognizes the gent
Advantage of customers and consumers when we had the financial crisis. I have individuals right now who are on the street, on the street, not back in their homes. They had these fraudulent mortgages. Nobody said, im sorry that we gave you these fraudulent mortgages. Were going to put you back in your home and were going to make sure that everything is ok. No one has done that for them. You havent volunteered to do that. Will wells fargo put people back in their homes . Mr. Stumpf congressman, if i could respond for a second, please. Theres no question we dont do everything right and we made mistakes. Were upping our game. Mr. Meeks so who should pay for it . Who is accountable for it . Mr. Stumpf we are going to make it right for every one of our customers. Mr. Meeks your institution is make over 22 billion yearly. Who is paying for it . Whos taking responsibility for it . Dont come tell me youre sorry mr. Stumpf were taking care every one of our customers who is impacted. Mr. Hensarli
Louisville. The police chief there is a suspect in custody. We will get analis with bret baier and reporting from matt flynn in louisville. First john roberts from the north lawn today. I can hear the helicopter. No reports yet that the president left the oval office but should soon. He will head to florida and stop in charlotte, North Carolina. We will talk to healthcare and talk about how he would replace obamacare in his second term. Heres how the press secretary laid it out. The president will layout his healthcare vision today. I dont want to get ahead of th that. The president will layout the contest between what obamacare gave us and what the president has delivered. I think we have a graphic of that effect. She didnt have the graphic. But we have a graphic of things he already talked about. Lowering drug costs. Telemedicine and lowering the cost of medicare. The president will unveil protections for people with preexisting conditions and an executive order to cover a number of