NY Sues Wells Fargo Over Mortgage-Servicing Accord

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Oct. 2 (Bloomberg) -- On today's "The Roundup," Bloomberg's Trish Regan, Olivia Sterns, Adam Johnson, Matt Miller and Julie Hyman wrap up the day’s top market stories on Bloomberg Television's "Street Smart." (Source: Bloomberg)

We go.

The attorney general is preparing a lawsuit, saying the bank failed to live up to the terms of the mortgage servicing agreement intended to originally stem before the abuses.

Bank of america on the same issue, moving ahead against wells fargo, saying the bank refused to commit to common sense reforms as sad and shameful.

Wells fargo rates one third of the margate jazz in this country.

-- mortgages in this country.

As someone who has had several over the years, i have never had the bank create a problem.

But you are not a distressed homeowner, you probably did not lose your job.

In new york and actually active on this issue in particular they said that wells fargo is one of the worst banks to work with when it comes to distressed homeowners and these are the people they are talking about.

If the bank knows that there is a problem?

Let's get back to that old- fashioned banking.

The statement alone down there on main street, who runs the bank?

They would figure out a way to work it out.

It is supposed to be a service business.

Do not even get me started.

Atm fees, atms in general.

It is one of the most difficult tanks to deal with.

They would not know what to do with this issue.

Once or twice, essentially from there you go into kind of robo signing foreclosure.

Nine percent at the auction house, an old master painting in need of restoration, this hedge fund or wrote a scathing review with deteriorated competitive positions on little evidence justifying the pay package.

And responding that the company wants to focus on servicing clients rather than debating incendiary and baseless comments.

By the way, for all his complaints, the shares are up 60% in the last year nearing all-time highs.

He obviously thinks it is capable of better performance and is pushing for the ceo to leave.

And he likes to get into fights, right?

He is an activist.

That is what he is supposed to do.

This is a business with a lot of waste.

There is a lot of whining and dining going on.

He brought that up.

It is part of it.

If you want to get those clients in and get those fancy paintings, you probably need -- one of his complaints was that he said behind christie's when it comes to contemporary modern art, it has been really out in front and aggressive in purchasing stuff and saying that southern these has not ridden that wave.

He also said they took the company through the financial crisis and did a good job managing it in tough times, but now you have to go.

Some companies have reduced hours for temporary employees with providing benefits under their health care law, but the happiest place on earth has done the opposite, disney world, offering positions to part-time employees who work enough hours for benefits under the affordable care act.

Doing the right thing.

Everyone was making such a fuss.

Only for the people that had access to other lands.

But they were cutting back on benefits and walgreens had a move to put theirs on to write that rather than corporate health umbrella, but this is the opposite, showing two sides.

Forcing employers for not covering.

I do not know about the epcot center.

I am going.

Secret about trish reagan, her favorite part of disney is epcot center because it is the only place where you can walk around with a drink.

It is true.

Take your daughters to lunch.

From disney to drugs, behind the so-called ebay of drugs in court today.

William albrecht ran the silk road website, a sprawling black market is our where users can pay bitcoins to buy illegal drugs and fake id.

He was known as dread pirate roberts on the site.

The most sophisticated criminal marketplace on the internet, pretty incredible.

He had to have -- he tried to have one user killed, reportedly, according for -- a getting -- according to criminal complaint.

Take a look at this.

Seems like a nice guy.

[laughter] looks like a nice guy, must be a nice guy.

According to this he is an entrepreneur of financial service of visors.

I have the numbers for you guys, it is amazing.

The number on the site from earlier in the year estimated that there were 60,000 visitors per day in terms of revenue, $1.2 billion in mostly illegal transactions.

Want to know what happen when this news came out?

It went out -- it went up.

Have i not told you what the users are doing with that money?

You have.

That is exactly what they are doing.

We did find a bar in new york city that accepts them.

They even do it on an ipad.

What were they selling?

We like it.

I am in.

I want to go down to a great conversation we had this morning in "market makers." he was on the show with stephanie and aric and like the rest of wall street he is very disappointed in the congressional instability.

The thing that is depressing to me is that it does not seem like they locked themselves up to try to find a middle ground, it is more about the point of view of negotiating with the other guy, which is sort of embarrassing to all of them.

Vodafone might be an attractive takeover target for at&t. he is still short with green mountain coffee.

So talented in so many different ways.

Perfect segue.

A very talented poker player.

No pun intended.

We have a terrific show coming up for you on october 23. it is poker night on wall street, i sit down with six of the world's best inventor.

-- best investor.

It is all in the name of charity.

I believe that he finished sixth in the world.

Make sure that you tune in for that.

We have your first trade for tomorrow.

Here is what is next on "street

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