. >> thank you. next is marked with wells fargo. >> hello, i work for wells fargo bank. i cover the northern california region. i usually focus on about $350 -- $350,000 of sbe loans. last year, for 2010, i did 43 loans. so we are lending. i usually focus on six different types of loans. start-ups, business acquisitions, real estate purchases with ti's, working capital, a partner buyouts, business expansion. when i am looking at a potential loan, i use the standard five c's of credit. the first one is character. what we are looking for is a minimum score around 640. we would like to say no recent bankruptcy foreclosures, bankruptcies, tax liens. if we see a loan that has been modified, we would like to see a reason it was modified, what ever reason it may be. it cannot be, i did not want to pay that payment any more. the second c, conditions. basically, how precise will the money be used? we are looking at a business plan. when you look at a business plan, that is just a start up. we are looking to see where there will be the need for lending. if you are an existing business, we wan

but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund their loan. we will start with you, mark. >> absolutely. thank you. i want to thank speaker pelosi for putting this together. i want to thank all of the of for coming out on a smell it -- snowy san francisco date. [laughter] we've been told we should get us know when we go back outside. not sure what to expect. second, i thank speaker pelosi for all the work she did to support the jobs act and before that, the stimulus bill, the original american recovery act bill that allows sba to be able to besba landing m

fargo for a line of credit and they would not give me one. >> i can speak to you about it. when we look at funds that are needed, the biggest thing we look at our cash flow. i can address that with you. unless there is an issue, at that point -- [inaudible] >> let's talk, ok. >> i have a couple of more questions. i know that the panelists have agreed to stay after for those who have specific questions. i do have one question for wells fargo. what are the typical rules for applying for sba loan of less than $50,000? how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it,

contributions of our sponsors. we want to thank chevron corp., wells fargo, mcdonald's, academy of arts university, at&t, southwest airlines. if you have not entered their raffled yet, do so later tonight. comcast, walmart, verizon, moon star restaurant. >> we go from the greatest karaoke's singer in the house of congress to the self-proclaimed worst karaoke singing in public office. i would like to introduce california state controller, serving his second term. he takes a hard-line and took immediate action to weed out waste, fraud, and abuse of public funds. and to amend the state's finances more transparent and accountable to the public -- and to make the state's finances more transparent and accountable to the public. [applause] >> i will spare you what the distinguished council president requested me to do, which is to sing for all of you. we used to go out for karaoke, but he would sing and i would leave. this is a magnificent evening. we gather tonight in celebration of asian-pacific heritage month. we take a moment to reflect upon our past, to understand the heroic struggles, ob

taking the boy to the wells wells fargo museum or chinatown or the noon time calendar thing and throw the things out the window and come down in a shower. he loved it all. he treasured his family and san francisco history. his grandfather the judge and his parents involved in state politics of course want his family settled in the foot hills in the 1850's and we were lucky to show the boys this gold country this past june as caro told you about and other treasured family trips we took this summer. milton was dedicating to preserve the city's history and beautiful buildings and the new mission theater and the columbo building in north beach and had pet projects and recruited his friend fred and the paintings there and you can see them and next to the brick wall next to it and turn of the century full painting. he was determined to document these and lest they not be forgotten. he wanted to create city wide -- okay, the perma stone thing was a joke but one idea was to preserve the neon signs in the tenderloin and elsewhere. he was so creative and had so many great ideas and waitin

. the reverend fong we have been recognizing your voice for wells fargo on the radio and we want to give recognition to your voice again as a champion for the central subway. come on up reverend norman fong. [applause] >> yeah, that's true. i am going to keep this short, but i also need your involvement. i was asked to do a blessing but those that know me we need to bless each other and today i just want you to say these four words. bless the central subway. say that. "bless the central subway". now, whenever i say this word "this is it" -- i am borrowing from michael jackson. then you did a blessing. okay. this has been the moment we all been waiting for. this is it. >> (inaudible). >> a community dream is being actualized. this is it. >> [inaudible] >> communities from the bay view to chinatown are being connected. this is it. >> central subway. >> affordable transportation is the life blood of all cities. right? this is it. >> central subway. >> from washington dc to san francisco we are here to accept brait a federally supported and grass-roots driven transit project that repres

money instead of in wells fargo or whatever, a private commercial bank, into a bank that is owned by us, and that the interest goes into city treasury, and we extend credit to ourselves. there's really innovative things that are happening, and that our public banking laws being lodged in a number of -- i think it is, like, 13 states right now. very innovative things happening. in the back. >> there are a lot of assets you are sharing that are really great at the grassroots level and bottom-up, but there are also things that are done the need to be shared such as public transit that cannot be done bottom-up and have to be done top down. i wonder is there a way a sharing economy can create those projects, or do we have to rely on residual benefits of bottom- up activity like reducing car use? >> the question is -- there are a lot of grassroots bottom-up activity, sharing resources, but there are also opportunities to take macro approaches like public transportation, for instance, and how we can get some of those opportunities going. >> i will take this. i think that is a really good quest

want wells fargo to modify their loans fairly. >> i've witnessed many people first -- i've met many people face to face across san francisco, heard stories of people across the country, i've noticed the specific story of larry folkes who is being evicted from wells fargo from a house that belonged to his family for many decades. >> i've been personally affected by this. not as a homeowner but a renter. in the last two years, the homes that i have been in have been foreclosed on. so what happens, people -- so what happens, people will end up being homeless because of this. >> fight foreclosure! >> reporter: again, a group of about 64 foreclosed homeowners entered the bank branch. some san francisco police officers did show up and escorted the group outside. the department of justice did settle with wells fargo for $125 million to settle this claim. i just got a statement from wells fargo about this. it says in part, wells fargo is part of the solution to help revitalize neighborhoods and support homeownership. it goes on to say, since january of 2009, wells fargo has helped customers

obama administration until he announced that he was leaving to take a senior position at wells fargo. well that's the same wells fargo that was investigated and sued by the department of housing and urban development where ryan currently works wells fargo settled with hud for allegedly kicking people out of their homes without trying to offer them a reeve finance of their mortgage and doctor their paperwork clearly no hard feelings for a while as fargo which has grown its mortgage unit significantly since the economic crisis and now makes up nearly a third of the whole mortgage market that's according to inside mortgage finance. and before ryan was part of hide he spent twenty six years at freddie mac. the housing and the human if that was taken over by the government to prevent its collapse in two thousand and eight when ryan moved to the agency. well why it while ryan takes his cushy new job at wells fargo taking his close government connections with him almost fourteen point nine million homeowners still owe more on their mortgage than their house is a worth. and from the revolvin

fargo double digit earnings. they are one of the strongest banks in the country and posted an overall profit of nearly $4 billion in this year's third quarter alone. not so fast. not everyone is calling it a comeback. you can subtract from the fat profits. the $175 million that wells fargo had to dish out to settle accusations of discrimination against black borrowers. wells fargo charged more than 30,000 black and latino borrowers higher rate fees than white borrowers with equal credit risk. they steered 4,000 colored borrowers into subprime mortgages even if they qualified for similar loans. white counter parts were given regular loans. this summer's settlement was a big win. a home foreclosed -- a vacant home is full of costs for the community. cities are left holding the bill. fire and police resources to secure it and the maintenance to keep it from falling into blight and disrepair. it's siphoning off badly needed property taxes. neighboring homeowners can only watch as their own property values plummet. at my table, jonathan capehart, a fellow at the university of texas, sheila

ayudar a la universidad. cesar ---el banco wells fargo esta ofreciendo 5 millones de dolares en asistencia para que personas que califiquen den el enganche de una vivienda... take vo ---cada beneficiario recibiria 20 mil dolares, que no tendrian que devolver si mantienen la propiedad por mas de 5 anos. ---este asistencia esta disponible para quienes quieran comprar en el este de la bahia. ---el programa es parte de un acuerdo con el departamento de justicia para resolver los reclamos de propietarios de vivienda... take gfx ---si usted quiere conocer mas sobre estos plan puede asistir al hotel marriot en oakland contiiguo al convention center hoy y maÑana sabado de 10 de la maÑana a siete de la noche. top vo ---y varias instituciones financieras del pais han decidido suspender temporalmente los embargos hipotecarios y desalojos de personas con problemas economicos... ---esta suspencion estara vigente entre mediados de diciembre hasta los primeros dias de enero... ---instituciones como wells fargo, citigroup, fannie mae y freddy mac son algunas de las instituciones que tomaron e

at wells fargo so why is this a big deal well you have to dig a little deeper for that one see mr ryan has a pretty hefty resume that just screams conflict of interest first off his current position since two thousand and nine has been senior adviser to the secretary for housing and urban development last year he worked as a commissioner for the agency working on high risk f.h.a. loan resolutions but before that he was a physical in point for twenty six years at freddie mac. you remember them the government backed entity that had any bailed out by our tax dollars in two thousand and nine to help repay defaulted mortgages back in march mr ryan was a key player in the twenty five billion dollar mortgage for closer settlement between the country's five largest lenders including wells fargo now wells fargo is facing a lawsuit filed in october over f h a backed loans good thing mr ryan will be there for the rescue is the company's senior vice president sold for graciously appeared in my eyes in the corrupt a despicable revolving door relationship between washington and wall street bank

guilty. reporting live patty lee. >>> occupy protesters are camped outside the wells fargo building. the group says the movement helped more than two dozen people save their homes by taking part in occupation. >> there was tense moments at a san francisco branch of wells fargo this morning. 60 people who lost their homes stormed the bank on third street. they are part of the occupy our homes movement. police escorted the protesters out of the bank. wells fargo says tomorrow and saturday they will grant $5 million in down payment assistance for those who qualify. >>> police are looking for the driver of a vehicle who hit and killed a pedestrian and drove away. it happened wednesday night around 5:45 p.m. investigators say the victim was crossing the street when he was struck by a dark colored suv or van. police say the vehicle continued south dound -- continued south bound. the victim's identity is being wealth held. >>> investigators say a man who died last night after a fight at a homeless encampment was strangled to death. he was fighting with another transient before he died. a autops

advantage of $5 million in down payment assistance. wells fargo is giving out $20,000 grants to home buyers in nine bay area cities. this is between wells fargo over fair lending claims. right now, they are lining up at the hotel to find out if they qualify. >> we have more than 700 registered. and registration has reached capacity. we allow for additional 25% walk in traffic and encourage people who haven't registered to check the website to make sure they bring the right paper work so they are prepared. >> wells fargo is giving the $20,000 grants in alameda and contra costa counties, most effected by the mortgage crisis. it will be open again tomorrow 10:00 a.m. to 7:00 p.m. >>> republicans and democrats raided accusations over who is to blame for the fiscal cliff. john boehner and president obama and nancy pill low city blamed the republicans. >> we had a serious proposal based on president clinton's chief of staff. there is no counter offer from the white house. unstead, reports indicate that the president -- instead, the president has deliberately walked our economy right to the edge o

believe it was an accident. >>> happening now, wells fargo granting $20,000 each to east bay homeowner home buyers who qualify for down payment assistance part of a settlement with the u.s. justice department to involve lending claims. wells fargo is you ever aning five million dollars in assistance in areas most -- affected bay the housing crisis, nine cities in alameda and contra costa counties. >>> the man considered to be the toughest sheriff in america is in san francisco trying to figure out whether students at a local middle school sent him hate mail. sheriff joe arpaio tried to clear it up. >> reporter: joe arpaio now is known as the toughest sheriff in america also as the most controversial sheriff in america. this morning he might qualify as the most frustrated sheriff in america. others exhibit adult quality penmanship but the words all in spanish allegedly from students in a middle school sent to the sheriff, designed to hurt. >> then they said i have concentration camps with my tent city i put up 20 years ago. then i'm a racist. and i break up families and just go after br

than good? wells fargo chief economist says the fed has to back away a little bit and let rates rise. how much and why coming up. liz: cows p -- cousins, and entrepreneurs, the men behind tesla pushing ahead on a solar ipo at a time when people said put it off, cancel it. we get the answers as to why they went ahead with it and if they can stand without tax credit. david: adobe numbers, don't move, but, first what drove the markets today with today's data download. all major indexes closing lower as gridlock in dc continuing. crossed the line 30 times in 70 minutes of trading, and that's when it fell into the red for the rest of the day. health care, energy, and technology led today's decline as all ten s&p sectors posted a loss. retail sales rising in november as demand for automobiles rebounded and shoppers hit the stores in the holiday season. a report says sales road .3% last month reversing the previous month's decrease. on the other hand, there's a retail analyst saying there is bad news mixed in with the good. the number of americans piling new applications for unemployment be

conversation turns to finding a financial advisor who's fully invested in you, turn to us. wells fargo advisors. together we'll go far. wells fargo advisors. people have doubts about taking aspirin for pain. but they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who tried it agreed that it relieved their headache fast. visit fastreliefchallenge.com today for a special trial offer. has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. b >>> after six straight days where the s & p 500 went higher, the index's winning streak has finally been broken. even in the wake of today's decline, we're still in a very weird market. with all of the constant fretting about the fiscal cliff and the damage it could do to the economy, we would be getting hammered all of the time. but at least if the averages were flat lining, yet that's not -- that has not been the case for over the last four weeks. instead, the

available to make a down payment on a house after attending an event held by wells fargo bank. it's called city lift. for those who qualify it's a life changing experience. laura anthony joins us live now in oakland. >> this he dent vent still qog on. it's a two day event here. before it's over tomorrow evening, about a thousand people could go through here, for hose who qualify for at sis stance this could be the last piece that is allows them to buy a home. wells fargo is reaching out to hundreds of bay area families, trying to help them with $20,000 towards a down payment on the purchase of a home. sean coleman lined up at 6:00 a.m. one of the first to find out he qualified. >> exciting day? >> yes. it is. better than a birthday. >> wells fargo making $5 million to perspective home buyers in nine east bay cities. oakland, fremont, antioch, pittsburgh and bay point. >> and we wish you the best. >> not everyone who applies will qualify. applicants must have a strong credit history and a consistent income. this woman came up short. >> are you disappointed?. >> slightly. but encourag

families in the east bay now have $20,000 available home.yqÑ7Ñ wells fargo hosting an event this weekend called city lift. abc 7 news is live foróq-= us in oakland with the story. >> this program focused on nine cities here in the east bay. hard hit by the crisis, there are a lot of folks who need just a little help buying a home. >> we got the money! >> glenn tailor is celebrating she qualified for 20,000s ndz down payment assistance from wells fargo bank. >> the dream has come true. >> dreams do come true. they do. >> wells fargo reaching out to hundreds of families trying to help them with $20,000 towards a down payment on a home. sean coleman lined up at 6:00 a.m. one of the first to find out he qualified. >> exciting day? >> yes. better than a birthday! >> would wish you best. >> not everyone who applies will qualify. applicants must have a consistent income ask strong credit history. for those who do qualify the $20,000 will being forriven if the buyer stays in the home five years. or owe prorated 20% per year of residence. >> the goal making sure we don't have people jump

fargo is giving out $20,000 grants to home buyers in 9 cities, most effected by the mortgage crisis. part of a settlement between wells fargo and the justice department over fair lending claims. >> a new -- i knew i could not afford that much as far as a down payment. i am excited t. helps me out a little bit more. >> the eligible cities are antioch, bay point, concord, fremont, hayward and oakland. the event continues tomorrow from 10:00 a.m. until 7:00 p.m. >>> a bay area k-mart store says christmas is coming early for lay away shoppers. good samaritans have been coming in and paying other people's lay away bills. store employees say as many as five people a day have come in to spread a little holiday cheer. in one case we are told that a recipient had been in the hospital and cheered up when she found out her lay away had been paid for. >>> 2 military personnel had their cars redone. both men served in afghanistan. stevenson was wounded there. residents in the bay area and around the world marked 21 years since the surprise attack on pearl harbor. 21-gun salute. and a wreath payi

light know. also early showers and clearing in l.a. rain in louisville and cincinnati. >> fargo, barely makes it above zero. honolulu and miami, the hot spots, near 80. seattle and portland, the 40s. >>> a senator from idaho apologizing today after being arrested for driving drunk. mike crapo was pulled over after running a red light yesterday. he failed several sobriety tests. he was taken to jail and released on bond. he's expected to be in court in january. he says he takes total responsibility. >>> overseas to afghanistan. the death of 42-year-old job price is being investigated as suicide. he died of a gunshot wound. he was a member of s.e.a.l. team 4, a special navy warfare unit. >>> only one week to go now and there is still no deal preventing the economy from going over that now infam mouse fiscal cliff. members of congress are still pointing firngs over who is to blame for the lack of progress. meanwhile, connecticut's independent senator, joe lieberman expects congress to work right up until the new year's eve deadline. he's not sure that will be enough. >> it's first