In a german newspaper interview. Durables just ahead of estimates and still looking for definitive headlines out of opec. Inventories at 10 30. Yellen back on the hill answering lawmakers questions about the banks, what shes expected to say about the troubled sector. And speaking of banks, wells fargo ceo john stumpf is forfeiting 41 million ahead of his next appearance on capitol hill tomorrow. And what should you expect as an investor . Shares of nike falling in the premarket on yesterdays earnings numbers. Whats dragging that dow component down . But first, a lot of news involving the banks today. Wells fargos john stumpf to forfeit 41 million in equity awards while the companys board investigates the banks sales practices. Deutsches john crion saying the bank did not need increase or capital interest. About an hour from now fed chair yellen will testify on Bank Supervision and regulation before a house panel on capitol hill. Of course when she starts making headlines, well try to t
The committee will come to order. Without objection, the chair is authorized to declare a recess in the committee at any time. This hearing is entitled semiannual testimony on the Federal Reserve supervision and regulation of Financial System. I now recognize myself for three minutes to give an opening statement. As we all know the dodd frank act vastly increased the powers of the fed way beyond has traditional Monetary Policy responsibilities. The act has made the fed omnipotent but cannot make it omniscient. No act can. Through the exercise of socalled heightened prudential standards the fed can control the largest Financial Institutions in our economy. Former fed governor kevin warsh recently wrote Central Bank Power is permissible in a democracy only when its scope limited, its track record strong and accountable assured. None of that do we observe today. Where his feds omnipotents has taken us . The big banks are bigger, Economic Growth lags and theres scant evidence our economy i
Accountable. This hearing is about three hours. [ room noise ]. The committee will come to order. Without objection, the chair is authorized to declare a recess in the committee at any time. This hearing is entitled semiannual testimony on the Federal Reserve supervision and regulation of Financial System. I now recognize myself for three minutes to give an opening statement. As we all know the dodd frank act vastly increased the powers of the fed way beyond has traditional Monetary Policy responsibilities. The act has made the fed omnipotent but cannot make it omniscient. No act can. Through the exercise of socalled heightened prudential standards the fed can control the largest Financial Institutions in our economy. Former fed governor kevin warsh recently wrote Central Bank Power is permissible in a democracy only when its scope limited, its track record strong and accountable assured. None of that do we observe today. Where his feds omnipotents has taken us . The big banks are bigg
Good afternoon. For more on this friday, we now have the details of the woman who Manatee County investigators say was desperate to get rid of her exhusband. This is rachel here seemingly happy in this picture and this is the same woman after her plan to have the father of her three children killed was exposed by the undercover detective she unknowingly hired. A lot of new developments on this story today. Were now going through report just released. What are we learning . Some very surprising information here. On the one hand you have immanls of her as a mother and church goer but then you take a look at these arrest papers and you see a different image. These also outlining the alleged plot. She was in Court Earlier today for a bond hearing. The judge sat a 100,000 bond after detectives wanted to have a hit placed on her exhusband. Children were living with david. Cops say thats one reason why she wanted this hit so badly so she could get her kids back. She paid for more than 2,000 t
[ inaudible ] bruce miller is basically escorted out of tommys joint. We dont know where he went from there but we do know a short time later he ended up at the San Francisco hotel at fisher mans wharf. We saw the video where his forehead was all bloody. This is an hour or two, we dont know exactly, before that. The reason we cut it offs with profanity. The swear words came from bruce miller. Now, he is in court a little bit later this horning. We got our hands on exclusive video. And he left. No punches were thrown, not until the hotel. So that worked out okay at tommys joint. What stood out to me was he was staggering. They had their hand on his elbow almost trying to keep him up. We got our hands on the video and we will show it to you again at 7 30. We know what happened next. Our Team Coverage continues with bruce millers arrest due in court today for the karnls he is facing after taxing a 70 yearold man and his son. For the charges he is facing. Lets go to avery harper with more