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tv   Way Too Early With Willie Geist  MSNBC  May 15, 2012 2:30am-3:00am PDT

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london. an nba matchup we've been salivating over. the thunder and the lakers, durant and bryant. who got the best of the showdown in oklahoma city? it's "way too early" for this. good morning. i'm willie geist, and this is "way too early," the show that always gets the better of the infomercials we're up against at this hourp. except for the damn slop chop, dices chops and minces in seconds. i'm glad you're up with us watching on msnbc or listening live on sirius radio. shoot me an e-mail or tweet me. why are you up this hour? or text the word "awake" followed by your response to 322639. the next 30 minutes will be your cram session for this tuesday,
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may 15th. a lot going on today. including a stunning turnaround among women for mitt romney. according to one "new york times" poll, we'll look at those numbers. plus, our man chris matthews goes from "hardball" to "jepor di". >> full name of the u2 pilot shot down over the soviet union in 1960? chris? >> who is gary powers? >> we need the full name. >> who is gary powers? >> no. >> it doesn't work that way, chris. you don't just keep asking. chris versus trebek. god, i love that man. first let's get to the lose live at 5:30 a.m. jpmorgan chase ceo jamie dimon face his shareholders for the mistake in trading cost the bank $2 billion. it wasn't just the initial trade, the company's stock price has dropped 13% since thursday when he announced it, wiping out almost $20 billion in nashgt value. the "wall street journal"
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reports this morning the bank is not expected to strip mr. dimon of his role as chairman. still the botched trading strategy, which was meant to protect the bank against losses, is opening the door to calls for tighter regulation on wall street. president obama says it is a perfect example of why he's pushing for more oversight. >> jpmorgan is one of the best-managed banks there is? jamie dimon, the head of it is one of the smartest bankers we've got and they still lost $2 billion and counting, precisely because they were making bets in these derivative markets. we don't know all the details yet, it will be investigating. but this is why we passed wall street reform. >> elizabeth warren, who helped establish the consumer financial protection bureau is seizing on this issue and her bid for senate in massachusetts. the former harvard professor told rachel maddow last night the debacle at jpmorgan suggests
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that the big banks haven't learned their lesson from twoi 8. >> jamie dimon's own words were that this was stupid, this was sloppy, so stupid and so sloppy that it wasn't even picked up by a regulator. there was no one to say, hey, wait a minute. i want to review your risk practices. i want to see the kind of risk that this huge financial institution is taking on because we're just about 3 1/2 years past the time you took on so much risk that you brought this economy almost to its knees. >> meanwhile, a report this morning in the "new york times" says for years senior investment bankers were concerned about the size and complexity of investments at jpmorgan chase. but the newspaper says those red flags were ignored for the most part by management. overseas, just a few minutes ago, francois hollande inaugurated as the president of france, ending the run of nicolas sarkozy. socialist leader hollande was elected to a five-year term
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earlier this month after running on a platform that challenged the imposing of tough spending cuts to repair struggling economies. in greece, stocks hit the lowest levels in two decades as the government faces a political stalemate that threatens its bailout and status as a member of the eurozone. the turmoil is spreading across the region where markets in italy, spain and london took significant hits, even the dow felt it, dropping about 1% in yesterday's trading. german chancellor angela merkel offered cautious optimism about greece while warning leaders there not to push back against planned austerity measures that are part of the rescue package. much more on this. we want to turn overseas to london where we find cnbc's steve sedgwick. steve, the headlines in the "wall street journal," fears hit the markets. faith fades in euro firewall. is there a chance, steve, greece could leave the eurozone?
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>> yeah, i 30's a big chance. you've got to remember we had the greek elections nine days ago. and since then there's absolute deadlock because among all the major parties nobody managed to get a majority. nobody has a coalition together that could get a majority to move forward. it seems the anti-austerity grous and pro-austerity groups they can't form a majority government which means deadlock in greece, which leads to real grave concern that's greece could actually default on its obligations and potentially have to leave the eurozone. now, this puts the whole of the eurozone in a very sticky position because there is no default mechanism for people to leave the eurozone. when these countries joined the eurozone in 1999 and beyond, basically it was a one-way bet. you weren't allowed to go in and out of the single currency. so if greece falls out, the real concern amongst all of the europens and right to the center of europe sz that others may follow. there will be concerns about
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spain, about italy, and portugal as well. so it's not so much greece they're worried about now. it's the ramifications of greece coming out and what it could mean for others as well. that's why these markets keep falling. >> that is the contagion fear the "journal" is talking about. steve, if you could help us with the jpmorgan chase details. jamie dimon will meet with shareholders today. what should we expect and what's the larger impact of this story? >> it's an amazing story, one we've been following, we've been speaking to the journalists who first uncovered this over a month ago. the 10th of april, which incidentally was three days before jpmorgan reported their quarterly figures, this story broke in the "wall street journal." and the fact remains there are all kinds of ramifications politicians will be looking at positions of the banks on wall street, the regulators will be saying, are you playing with the rules here, the volcker rule, there are real concerns at
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jpmorgan as well that the position itself, that created the problem, is still open. so they talk about a $2 billion loss. it could be $1 billion, $2 billion, $3 billion. we just don't know. when they can crystallize the loss on this open position. the other side of the trade is the hedge funds, they're not necessarily going to let jpmorgan out of this one. >> steve sedgwick live in londzen, thanks so much. here at home, california's governor is proposing massive cuts and tax increases after we learned over the weekend that california's budget deficit has ballooned by nearly $7 billion. governor jerry brown proposed $8.3 billion in cuts, everything from payroll to court funding to construction projects. a 4-day workweek for state workers. hundreds of millions in cuts to state colleges. raising the state sales tax and a temporary increase in income tax on the wealthy. brown says it's the best he can do, calling it a, quote, pretzel palace of incredible complexity. the governor made a comparison to the financial struggles we were talking about overseas.
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>> take away our never pleasant, take a look at what's going on in greece. take a look at the 100,000 people marching in spain. once you have it, it's much more painful to give it up than if you don't get what you desire. and that's why it becomes very important to block new spending proposals. it is difficult, and that's just life. >> governor brown's plan comes up for a vote in november. to 2012 politics, mitt romney's time at his former company bain capital is shifting the debate back to the economy. just hours after the obama campaign released a video attackiattack ing mitd romney's role in a now-bankrupt steel plant, romney's team countered focusing on a different steel plant that is now hiring. the ad claims romney's work at bain capital led to more american jobs. here is a piece of the romney ad. >> the beginning of steel dynamics is a perfect entrepreneur yal story. >> this was just farmland when sdi first come here. >> it's incredible.
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when i started we had close to 1400 employees, now we're over 6000. >> i think there's a lot of pride in what we've built out here. >> but sdi almost never got started. when had others shied away, mitt romney's private sector leadership team stepped in. >> building a dream with over 6,000 employees today. >> if it wasn't for a company like steel dynamic, this county wouldn't have a lot. >> romney, who left bain in 1999, says he is not responsible for layoffs that occurred two years after he departed the company, including the ones highlighted in the president's ad. meanwhile, new opolling fro "usa today" and gallup is looking at the economics. 71% say today's economic conditions are poor, 29% say the economy is in good shape. more americans are optimistic about the financial future, nearly six in ten predict the economy will be good just one year from now. 55% say the economy would get
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better over the next four years if romney were elected compared to 46% say it would improve if obama is in. polling from cbs news and the "new york times" shows the candidates in a statistical tie, the poll shows romney's support among women voters now topping the president's. again, statistical tie. romney up three points among women, just since april. president obama is looking to regain ground with female voters, delivering the commencement address at barn erd college yesterday in new york city. >> how far your leadership takes this country, this world, well, that will be up to you. don't just get involved. fight for your seat at the table. better yet, fight for a seat at the head of the table. >> the president also alluded to the recent congressional fight over contraceptives suggesting it would not be an issue if there were more women serving on
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capitol hill. meanwhile, texas congressman ron paul announcing yesterday he will stop campaigning actively for the presidency but will continue to work on securing delegates so now we're pretty much officially down to president obama and mitt romney for the presidency. still ahead on "way too early" -- kevin versus kobe in the western conference semifinals. game one highlights of the thunder and lakers throwing down, ahead in sports. plus, president obama visit the ladies of "the view" who sit down with the most powerful man in the country and talk entertainment. >> suddenly, shots were fired, four or five, not very loud. wallace fell backward, wounded, three times and bleeded. mrs. wallace, sobbing, bent over him. police immediately pounced on a
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suspect, a young white man with short blonde hair. the justice department later identified him as arthur herman bremer, 21 years old from milwaukee.
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i got that wrong didn't i? [ male announcer ] want great taste and whole grain oats that can help lower cholesterol? honey nut cheerios. welcome back to "way too early." it's 5:45 on the nose, a rainy, misty, washington, d.c., as you look at a live picture of the united states capitol. let's check in with bill karins. how bad is it going to be today? >> downpours, d.c. and baltimore currently. it looks like one of those mornings that it will be extra slow. if you can get away with staying inside a little longer, wait for the rain to move out. the worst of it up i-95 from fredericksburg to d.c., heading for annapolis and baltimore, you're soon to get drenched. eventually this will work up into areas of, say, philadelphia and even new york city a little later this morning. right now just light rain in central p.a. we're covered in light rain in northern new england. those downpours as i mentioned will roll through philly probably sometime right around
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8:00, new york city more or less toward 9:00 or 10:00. most of these areas apt to get a 0 break in the afternoon. then we'll probably get another round tonight. also have a chance for strong thunderstorms. it will be a hot, summer like day today around chicago and through the southern great lakes to the quad cities. we will see a round of thunderstorms late this afternoon into this evening. and also our friends down in areas from raleigh to columbia, south carolina, you'll have a chance of some isolated strong storms later on today. so, willie, we're looking at just a few bad spots out there, but the middle of the country through the west, still 10 out of 10 perfection. >> but if you're traveling up the east coast, look delays. >> not a good morning in d.c. and heading toward philadelphia. sports now, the nav playoffs, lakers and thunder kicking off their series in oklahoma city. still some bad blood between these two teams. metta world peace threw the infamous elbow to the head of harden. world peace adding fuel to the
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rivalry saying he wouldn't greet or shake the hand of harden because he, doesn't, shake substitutes' hands. harden comes off the bench, sixth man of the year. here's how thunder fans in oklahoma city reacted to the introduction of metta world peace. >> at forward, 6'7" from st. johns, at 15, metta world peace. [ audience booing ] >> world peace and harden meeting later in the night, harden played well in this one, second quarter, gets the steal, all the way in for the dunk. thunder up 15 at the half and blew the lakers out of the building. third quarter, durant upstairs to westbrook. that's a guard, my friends, slams it. thunder up 19. watch as metta world peace and harden get tangled up again, harden hit hads the deck hard but this time was okay. thunder cruise to the win 119-90. westbrook had 25 -- excuse me. westbrook had 27, durant 25.
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boston last night, sixers/celtics, game two of their series. philly looking to redeem themselves after a fourth quarter collapse in game one. sixers took a six-point lead into the fourth quarter but just after two minutes to play, rajon rondo, sinks the three to give the celtics the lead. sixers respond, giving philly a two-point lead. celtics up one with under a minute to play. evan turner splits the defense, beautiful lay-up to go. sixers up aif point. last chance for boston, trying to set up the three for paul pierce but kevin garnet whistled for an illegal screen, if you can believe that. the sixers hang on and take game two 82-81. series tied at 1-1. moves to philly tomorrow night. stanley cup playoffs, rangers and devils in the first game of their anticipated eastern conference finals. rangers coming off two consecutive seven-game series. scoreless until the third period, daniel girardi slaps one
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past martin brodeur to put the rangers on the board. later in the third, rangers get it up the ice to chris kreider, puts it in. rangers second goal of the game. they win 3-0. game two tomorrow night in new york. nationals rookie bryce harper's action-packed first month in the majors continued last night. in the top of the second, nats up a run, orlando hudson lines one to right field. harper gets a glove on it. oh, can't pull it in. it goes as an aerror, allows a run to score. harper redeems himself in a third inning, 429-foot shot to dead center, the first home run of the young man's career. put the nalts up 4-1. he gets a curtain call. nats win 8-5. coming up at the top of the hour on "morning joe," president obama goes after mitt romney's record at bain capital, saying he exploited american workers for the financial gain of his company and himself. mr. obama hromney has responded.
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we'll debate meaning of capitalism. and chris matthews with his "rainman" knowledge of history and politics gives jeopardy a try. we'll see how he did when "way too early" comes back. 0 ♪ how are things on the west coast? ♪ ♪ i hear you... ♪ rocky mountain high ♪ rocky, rocky mountain high ♪ ♪ all my exes live in texas ♪ ♪ born on the bayou [ female announcer ] the perfect song for everywhere can be downloaded almost anywhere. ♪ i'm back, back in the new york groove ♪ [ male announcer ] the nation's largest 4g network. covering 2,000 more 4g cities and towns than verizon. rethink possible. it's this... the etrade pro platform. fast. beautiful. totally customizable.
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told you at the top of the show that jpmorgan chase ceo jamie dimon will meet with shareholders today for the first time since he anounszed the first lost $2 billion in an overseas bet. yesterday president obama used the losses at jpmorgan chase as part of an argument for stricter financial regulation. if you want to sound smart today, tell your friends that according to the center for responsible politics president obama has received more than $76,000 this politics season in donations from employees of jpmorgan chase while mitt romney has received more than four times as much from that same group at jpmorgan. romney has four to one advantage over the president in total donations in the securities and exchange. enough of the real news. let's huddle up around the water cooler to see the ladies of "the
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view" give president obama a little pop culture quiz. >> now, we know that you know a lot about politics. you know about the law. but do you know about pop culture. >> i don't know. we're going to find out. >> i have questions. let's see what you've been wraeding. >> fire away. >> which kardashian was married for only 72 days? >> that would be kim. >> very good! okay. >> because it was a ball player. >> that's right. >> that's how i know, from watching basketball. >> this one you may not know. i'm hoping that you don't, as a matter of fact. >> get ready. >> what's the controversial sex book that's on millions of women's bedside tables? >> he doesn't know it. >> good! >> i don't know that. but i'll ask michelle when i get home. >> don't play coy, mr. president. we know you're reading "50 shades of grey." the full interview airs later this morning on "the view."
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also, last night our good friend chris matthews on "jeopardy's" d.c. power players edition. former white house press secretary robert gibbs and cnn's lizzie o'leary were the competitors. matthews playing a little "hardball" with alex trebek. >> let's go back to what is crossword clues eight. i'm sorry. $200 for the category crosswords close eight. >> pay attention. at blank, soldier! four letters. >> at ease, soldier. what is at ease, soldier? what is ease, soldier? >> ease, yes. less than a minute. full name of the u2 pilot shot down over the soviet union in 1960. >> chris? >> who is gary powers? >> we need the full name. >> who is gary powers? >> no. >> lizzie? >> who is frances gary powers. >> that's it, yes. full name.
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lizzie benefits. she selects. >> did you see chris' face? frances gary powers. robert gibbs won, by the way. chris matthews still got $10,000 for his favorite charity as a runner- runner-up. still ahead, on "way too early," your texts and tweets and e-mails next. then "morning joe" live from washington just moments away. i should be arrested for crimes against potted plant-kind.
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time for a couple e-mails. what do we have? >> good morning from nigeria. we love you so much and we figured out how to stream you live from the american embassy. >> nice. >> frankly speaking, it's not too early for me because i watch you online from russia. it's almost 2:00 p.m. here in moscow. >> all right! one in nigeria, one in russia. we're spreading east. how about another one, tower? >> i've got a scott. he writes, i'm up because nelson sent me four bucks to watch tv. i am making a concerted effort to raise your commercial value. >> did you say his name

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