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tv   Your Money  CNN  November 23, 2013 6:30am-7:01am PST

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top of the hour. >> coming up on "your money" banks got bailed out, but you may feel sold out. christine romans sits down with a man who got a billion dollar payout. >> "your money" starts right now. gun reform. poverty level paychecks. same-sex marriage. some of the most divisive issues facing you. i'm christine romans. walmart. a walmart in ohio is collecting canned food to help its workers feed their families on thanksgiving. this picture posted on the walmart facebook page. if there is a recent political controversy, starbucks ceo called for law makers to end
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the shutdown and spoke out in support of the same-sex marriage. when talk turns to chick-fil-a. the ceo is taking stance for his opposing gay marriage. some of the groups are upset again because the original says presented him with an award for champions of justice and equality. walmart and starbucks and chick-fil-a just a few. is politics bad for business? we have the former hp here with us. the most powerful woman in business six years in a row, but she ran for senate and advised john mccain in his presidential run. she knows what it takes to create jobs and what it takes to get votes. carly, do the two mix? politics and business? >> i think this trend where ceos
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are standing up and getting involved in politics while they are active ceos, i think that is a relatively recent trend. honestly, i'm not sure it is positive because a ceo who is running a large company has a lot of different views inside their companies. generally speaking. a ceo's personal decision to get involved is different than the company's pac. that is where employees donate funds to a political action committee voluntarily and that money is given to candidates generally speaking. companies tend to play both sides evenly. you have people like jeffery katzenberg. there are a lot of ceos involved in politicians. my view is it may be part of the increased partisanship in the political process in general.
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i'm not sure it is a good thing. having said that, every american citizen has the right to express their opinion, including a ceo. >> sometimes it is interesting because the ceo's opinion sometimes is taken as the brand of the company. the brand of the company. that is the hard part. bob is the founder of the senior management at sony and bristol myers squib. i sad down and asked him about the low pay criticism the company has received. listen. >> we pay above average wages. the vast majority of the people who work for us full-time make well over $25,000 a year. >> okay. it is a lightning rod for some congress members. >> the welfare kings in the country are the walmarts of the world who can only make it and
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only pay those low wages because the taxpayers are willing to foot the bill. >> walmart does not want to be at the center of a living wage debate. how do they avoid this controversy or is it impossible because of the size and scope of the company? >> it is impossible for walmart because of the size from everything they do from putting a box outside and asking for contributions for the employees. you can not avoid it today. they may have handled that one differently. >> they say it was a store by store basis. it was one person helping out another. >> that should be done inside the store with its employees in private events. if you look at the apartment building in new york. take a collection for the butlers and doormen and elevator operators. is that the same thing?
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i don't think so. you have a closed private group. not a public display. >> carly, is there an advantage that deal with the blue states and red states? howard schultz in some of the things he reached out on with bringing guns in the stores or washington getting its act together. it plays to the brand of the company. >> clearly howard feels that way. i don't think he would do this unless he thought it was consistent with his brand. my guess is he has employee within starbucks that agree with him and many who do not. he has customers who agree with him and some do not. that is the balancing act with the ceo who is out there expressing a personal opinion. it is difficult to separate their personal opinion from their job. >> let me ask you the fine line of shareholder value and
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personal responsibility. >> the board of starbucks and shareholders of starbucks, i think, appreciate they have a ceo who is not as bland as sand. they like that someone is out there taking the opinion. >> it is good pr. >> that is part of his makeup. you need a ceo who is front and center on issues and not afraid of them. there are other times when you want the ceo to stay under the covers. >> i think you are both right. carly is right, too. this is kind of new to have the personal opinions of ceos bleeding through in a company brand. nice so see you bob zito. you know the convenient detergent pods. keep these away from your kids. according to the poison control centers, more kids are biting into them or swallowing them. 60,000 cases reported last year. the pods are small and brightly colored. they look like candy. they are the size for a toddler
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or small child to explore them with their mouth and they are no treat. they cause vomiting and difficulty breathing. by the time the kids realize they are not to have them, they could have ingested them. be careful where you keep them. for more of the stories that matter to your money, give me another 60 seconds on the clock. it's "money time." the tech boys club might be opening its doors wider to women. in the last year, 60,000 jobs added in tech went to women, but they make up less than one-third of all tech employees. google and microsoft trying to team up to get rid of child porn. the price of bitcoins soaring. some authorities think it could be used for buying drugs or dodging taxes. elvis presley has a new
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owner. authentic brands group brought the rights to the album covers and movie posters. abg owns the rights to marilyn monroe and muhammad ali. think thanksgiving travel is bad? delays could become the norm in the next decade thanks to crumbling air travel infrastructure. buyers beware. butterball shortage. it is short on large, never frozen birds this thanksgiving. up next, the banks got bailed out. you feel sold out. i sit down with the man who wants justice for main street starting with a 13 billion dollars payout. that's next.
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you tweet me, you message me on facebook and you are angry. why? main street got a raw deal. the banks did a lot wrong and were you stuck with the bill. sinking home values and neighborhoods destroyed by foreclosures. jpmorgan chase agreed to a deal for its role in the crisis. it is the largest settlement in history. about half a year's profit for the bank. i spoke with attorney general tony west. he is the guy jamie dimond dialed up after the question where is the justice? >> there is a lot of pain that exists in the country on main is street. that is what we were trying to accomplish with the settlement. if we just settled the cases one
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off by themselves, the money would not be as high as we are talking about today. we would not have the consumer relief. >> now you have the thing signed, sealed and delivered. you had personal conversations with jamie dimond. he is a master deal maker. you went from $3 billion to settle narrow complaints to the very big deal. what was it like? what was it like trying to negotiate the deal? >> it was an intense experience, obviously. when you are talking about something this large and significant to so many people around the country, it will be quite intense and engaged. i think the personal leadership and involvement of the attorney general holder is absolutely to the success of this. the intent of jamie dimond was intent to the success of this. i think that we have been able to put together something that
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is extraordinary that i think can be a template as we go forward. we look at other financial institutions and try to resolve and remediate some of the harm caused by the financial crisis. as we go forward, there are other things we need to continue to look forward. there are other parts of the agreement and it was a civil resolution only. it doesn't constrain the department's ability to look at other possible, potential aspects to the conduct. we will continue to follow the facts wherever they lead. >> what you are saying, what your boss is saying there will be more. jpmorgan chase deal is not the last we heard of trying to make this right. >> well, look, this is not the first rnbs working case we brought this year. we brought a case against bank of america. we had the s&p case we brought which was a result of the good work, including some help from the rnbs. jpmorgan chase, we announced
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yesterday. it will not be the last. >> you talked about your boss eric holder. some would like to impeach him. you have a president who is a friend of yours. his approval ratings have been low. do you think this approach for wall street, this kind of $13 billion deal, does this help their image in the eyes of people who feel five years later, they want justice? >> one of the things about my job at the department of justice, i don't have to worry about politics or partisanship. i go in there and try to live up to the name of our department. >> the associate attorney general and his boss promising mo more justice. coming up, a republican warning against the dangers of
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time to take obama care's temperature. how sick it is probably depends on who you ask. first, put on your blue-tinted glasses for the liberal view. enrollment is picking up, at least in the 14 states that run their own exchanges. more than 154,000 people has signed up in those states. california had one of the biggest jumps, more than 79,000 people enrolled there. new york and washington state have the next highest enrollments. now, put on your red-tinted glasses for the conservative view. dig deeper into those numbers, and you'll find how young, healthy people are not signing up. in kentucky, just 19% of enrollees are under the age of 35. 22% connecticut, 23% in washington. back to blue now.
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liberals will say that's no surprise. the fines aren't high enough yet. it was designed to nudge people into the system. by 2016, that's when young people fined every year will start to enroll. but back in the red world, this is the beginning of the obama care death spiral. if too many old and sick people sign up, premiums rise, even more young people opt out, and the law collapses. now, the law's supporters say the death-spiral scenario is far fetched and too early to draw conclusions. both sides can argue the points. instead, let's step back for a minute and take a little historical perspective. >> stop this broken law. >> premiums are going up. jobs are being lost. >> this is a train wreck. >> reporter: the rollout of obama care's health changes has been a fiasco, even the president admits it. >> we fumbled the rollout on this health care law. >> reporter: but nearly 80 years ago, the birth of social security wasn't much prettier. signed into law by fdr in 1935.
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>> it was not particularly popular. in fact, i think you could say unpopular when it started in a time of deep depression. this program was taking money out of people's pockets. >> reporter: but eventually, the public embraced it. >> you had people who were used to getting nothing, and all of a sudden, they were getting something. >> reporter: today, social security is one of the government's most popular programs. so is medicare. but a 1962 gallup poll shows that was not always the case. a year before that, a future president warned against socialized medicine. >> you and i are going to spend our sunset years telling our children and our children's children what it once was like in america when men were free. >> the former president -- >> reporter: but with harry truman at his side, lbj signed medicare into law. its rollout was smooth, thanks in part to intense planning. in a 1966 memo, president johnson wrote, quote, perhaps never except in mobilizing for
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war has the government made such extensive preparations for any undertaking. so is that where the obama administration fell short? >> many of the comparisons between medicare and obama care are misplaced. what the johnson administration was trying to do was much simpler administratively. >> reporter: not to mention technologically. >> we're so beholden to computers, and we have such faith in technology to solve our problems. but some of the problems are essentially more complex than that. >> reporter: also more complex, americans' view of the government. >> in 1935 and 1965, people were much more willing to accept the fact that the government was a benevolent force working on their behalf. in today's world, there are many, many people -- maybe a majority of people -- who just don't believe that. >> reporter: a disastrous rollout of president obama's signature achievement certainly isn't helping. how would you like to a 2,000% raise? that's what jennifer lawrence got for her role in the second "hunger games."
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all right. we've seen employees get fired for all sorts of things, facebook rant, stealing from the company, but one buffalo bills fan may be the first to get fired for this. here's the score. as if falling off an up other-deck balcony, getting banned by your favorite team, and possibly facing criminal charges wasn't enough, kbw was fired from its job this week. it's rob hopkins. you can see him sliding down the railing on the buffalo bills ralph wilson stadium. he fell over the edge and landed on another fan, both taken to the hospital. thankfully, they were treated and released. someone not getting fired is jennifer lawrence. "hunger games" meaning big money for the girl on fire. here's a look at the business of being jennifer lawrence.
quote
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one oscar. two hit franchises. and the highest grossing action heroine of all time is hungry for more. jennifer lawrence was born in louisville, kentucky. she started her acting career when she was just a teenager. but her true star turn came at the age of 20 in "winter's bone," the gritty role resulted in lawrence becoming one of the youngest women ever nominated for best actress. two years later, she won, taking home the oscar for her performance in "silver linings playbook," a rise with only this small stumble. >> i'm sorry. i did a shot. >> reporter: lawrence is also up for "fun and games," come s mystique. hardly a volunteer, she earned $500,000 and the first installment of "the hunger
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games" series made almost $700 million worldwide. time to ask the boss for a raise. lawrence will get $10 million to reprize her role as cat for the sequel "catching fire." >> the girl on fire! >> reporter: "forbes" named her the second-highest paid actress, bringing home $26 million in the last year. >> it's really such a wonderful life. >> reporter: even with the cash, lawrence is very careful with her spending. she might be the face of dior, but she says she's still a barng shopper. >> i end up staying in the day's inn. >> reporter: the business of jennifer lawrence, international superstar, may seem like it's all glitz and glamour these days, just don't tell her that. and finally, just when you can't take anymore, obama care fiasco talk, it's time for "funny money." nothing about her problems for a former president, unless he finds himself laughing at his own health issues on jay leno this week. >> when the president had that
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heart scare, how scary was that? >> it was scary. very scary. >> yeah. yeah? >> but -- >> i wasn't that scared. [ laughter ] >> you had obama care? >> yeah. [ laughter ] >> that's at 2:00 p.m. eastern, nearly a year since the massacre at newtown, one year since christian ammaanpour said this. >> this was a red line by anybody's account. these were babies. this was a biblical slaughter of the innocence. >> at the time, it looked like president and congress would tackle gun reform, meaningful gun reform, so what happened? christian amanpour joins me at 2:00 p.m. up next, in the "cnn newsroom." >> there's a hole of time where none of the cameras provide any record that i've been provided. >> it's a story that cnn has pursued like no one else can, the investigation into the death of georgia teen kendrick johnson, reopened. and now new questions about the
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surveillance video taken from that day. do we finally have the full picture of what happened, or has the tape been altered? we'll explain what a forensics video company found, next on "cnn newsroom." stormfront's a-comin', heading into the busiest travel week of the year, and along with typical delays, a massive storm system is threatening to make the travel worse. new this morning, secretary of state john kerry arrives in geneva to hammer out an agreement on iran's nuclear program. the sources say there are some encouraging signs, but will that be enough to cement an historic deal? you have people gathered. you've given them the opportunity. they have to be brave enough to take it. >>

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