saudis and other arabs when they came to britain to be all to help the bombs deals . you'll run so this meeting, saddam, is it that interesting there i am. shadow on al jazeera. ah, ah, hello, i'm emily anglin, in dough. how these are the top stories and al jazeera, you, as president joe biden says, the countries on track to complete evacuations from cobble by the august 31 deadline. but he's asked the pentagon and state department to prepare contingency plans in case it needs to be extended. we are currently on a pace to finish by august the 31st. the sooner we can finish the better each day of operations brings at risk to our troops. but the completion bog is 31st depends

upon the tale bond. continuing to cooperate and allow access to the airport for those who are trans, we're transporting out no disruption to our operation. alan fisher has litres from washington d. c. when joe biden spoke, he was really sending a message to the taliban as well as to the american people to the american people. we've got this. we can get this done by august 31st to the taliban. we've got this . we can get this done by august the 31st, as long as you don't gum us up and get in the way that they're taking off the flight or taking off every 45 minutes or so. they've already evacuated 70000 people since august, the 14th. he thinks that they're on schedule to make this by august the 31st, but he's making it very clear getting away cause problems, stop people getting to the airport. and then there is a difficulty. the head of iran's prison authority has issued a rare apology. after linked videos revealed how detainees and mistreated so

islands footage lead by a hacker group shows gods baiting dragging and kicking in maine's inside. ty runs, evan prison. it houses political prisoners, and a jo nationals. and the government has the use to smooth delegations of human rights abuses. algeria is cutting diplomatic ties of morocco after months of height and tensions between the 2 nations. the l. jerry and the foreign minister accused his neighbors of hostile actions. he signed a list of grievances including morocco's reconciliation. with is round for decades, there's been strained, relations over the disputed territory of western sahara. ok, in day he lemme has been sworn in his ambiance. you president the one time business man is promising an economic turnaround, but he's got a challenge on his hands. those are the headlines here at al jazeera. it's now back to the men who stole the world. me.

ah, greed was definitely the driver on this. as it is on most for the city group is not the only one a comparable level of fraudulent mortgage loans have been seen in all the big wall street banks. ignoring the risk of bankruptcy, bank began to borrow a mass amount of money to buy more and more mortgage loans and package them into derivatives. the top underwriter is the peak tears of 20052006 women brothers. at $106000000000.00 lehman was one of the largest makers and sellers of the absolute most toxic loans in the entire world. lehman brothers was one of the

largest fraud vectors in the history of the world. are i sure my name is anti to lucas? got my name, tony i in the year 2009. about 3 months after the lehman bankruptcy. i was appointed by the federal court in new york to act as an exam. and i was independent of any of the parties in, among the responsibility as the court charged me in my team with was to determine how and why leman went into bankruptcy. and when you're talking about the lehman bankruptcy, you are talking about the largest single bankruptcy in the history of financial

institutions. total amount of the bankruptcy, $693000000000.00. so we told a story of what happened. lehman brothers were the 4th largest global investment bank in the world. lead by famous ceo dick full. hi, my name is dick full. i'm the chairman and chief executive officer of lehman brothers. now is a terrific time to be joining lehman brothers. i've been here 30 years. i can't think of a better time for you to take part changes and opportunities that are going on here . for you, the food will be the 1st things. first, your money a person who was viewed as a lion on wall street. i believe that in the year 2008,

the very year the bankruptcy was name by forbes is one of the top 10 executives in the country. they called them the gorilla and i think they call them that for a reason. he was brusque, boorish, take no prisoners kind of guy, you know, run through all for lehman brothers, hyper competitive, hyper narcissistic. squeeze some of those shorts. squeezen hard. not that i want to hurt them. don't get that please, because that's just not who i am. i am soft, i'm lovable. but what i really want to do is i want to reach in ripped out their heart and eat it before they die. the man who lost them and brothers,

the man who presided over its decline and fall, the man who could have done something about it, but chose not to the man who refused to see the writing on the wall. the man who kicked off in many ways, what became the great recession. ah, my name is all over buddha, and i was an in house lawyer, legal brothers for 8 years. i discovered many things that were at least unethical, if not illegal. and eventually i decided to quit. i was earning a lot of money, but it was not enough for me to turn a blind eye to all that was happening and the tone coming from the top. it full good guys around him were go for pushing,

go beyond the limits. the key lehman was to evaluate the risk and the reward and never mind the law that might be in between there. if, if the reward is high enough and the risk is low enough, we will do it. and we will sorted out later. this was a culture of risk. and this was all about money. lehman brothers risk analysis program was considered a model on wall street. i mean, it was brilliantly conceived. the problem was it was simply ignored. you have to understand, you talked about the whole default made his fortune lehman brothers. he was a billionaire. so if you say, well i think you get it wrong, it ask you, are you a 1000000000 or have you made a $1000000000.00 trading? i have any yes. the in the years

leading up to the crisis, everything, the financial health of lehman brothers could not have been better, at least on paper. ah, they expanded the use of their toxic derivative. and the ratio of lending band in 2008. the demon was massively leveraged, lehman brothers had one of the highest leverage ratios in american financial institutions. a leverage ratio is a ratio of your debt to your equity. another word for equity is capital it's ratio depending on the exact time was $30.00 to $40.00 to $1.00. in other words, for every dollar of suppose capital it had, it had $30.00 to $40.00 in debt. the lehman became the

focus of worldwide attention because they were perceived as the next weakest link. they were the next domino to fall. so lehman engaged in a scheme accounting scheme to make it look better. and what they did was involved what was called rico, one of this was something that lehman used every quarter to hide. some of the borrowed money, you see leman would borrow money and they would pledge securities that they had as collateral. at the end, it was $50000000000.00 each. they would borrow $50000000000.00 and they would give $50000000000.00 in collateral. but they would actually say that this was a sale. this was not a pledge for a loan, but this was a sale of those assets for $50000000000.00. and they would treat the

$50000000000.00 not as debt, but as cash that they just got. and by doing that and using that cash to pay down still other debt, they could, they could materially significantly move that leverage ratio down that as soon as the quarter was over and they had published their number, they would undo that transaction and the presto, they would give back the money, take back the securities and again, be leverage just as high as they were before they did this only to, for the public. and no other reason the effect of that was in june, they were able to show that their leverage had been dropped dramatically. industry said, wow, layman's doing okay. are for a strong today. we will merge from this cycle even stronger. we've done it

before. and we will do it again. so the number yes, my opinion, they absolutely fudge the numbers they, they engaged in the trans, even within their own e mails. they referred to it as a drug. they were on a sham an accounting gimmick to make themselves look better. so they knew what they were doing. so they were id information to the bullet. yes, that's my. that was the opinion we can reach and the report isn't it's against the law. well, if you file a misleading statement, and you knowingly file a misleading statement and a judge concludes that you have done so or jury done that is against the law. yes, there was a basis by which such a claim could be may yes, we did clinic against the food, the c s. s, but nobody was arrested or charged for the now there were no rest. there were no charge. there was no jury trial, there was no civil case brought in,

which the jury heard the case and then decided the case. not all those things took place. now let me start by saying that i have absolutely no recollection whatsoever of hearing anything about were seen documents related to report one 05 transactions. while i was the ceo of leman, you think it's possible that differed they didn't know. now, of course, of course none. there were senior executives that lehman who were interviewed by mr . balloon, us and others. who said that yes, he did know that emails were sent to him. that showed the repo one 05 portion of the financials to show the effect of this. and then dick folds answer was, well, they might have sent me emails, but i don't know how to work a computer. i don't know how to open an attachment that would have

a spreadsheet to show this. so i never saw it. i was never aware. this was his story. one more time, ball 3 minutes, representatives, financial condition. at the same time, millions were spending bonuses for trade in the us with a jackpot. the place to make money. and the most money was walk to do the bonuses reach level that had never been even approximated in the world. millions of dollars a year. it's like the greatest job that you could ever imagine getting without putting any of your own capital. with the news the had accept the lifestyle

they were willing to take risks to support that lifestyle. there's a great bit of narcissism and anti social personality disorders. and with this, they might feel like they have a sense of entitlement or they're above the law, or they're too good to get caught on wall street, these ceos, they can they pull and some of them would pull in a $100000000.00 a year. and dick full had several years, was $78090.00 a $100000000.00 in one year. he had a multi $1000000.00 home in greenwich, and that's where he lived most of the time. but he also kept a very fancy, multimillion dollar apartment on park avenue. he had another home down in florida also worth $1015000000.00. another place in idaho, a son valley, some sort of a cabin in the woods there. but again, multi $1000000.00 property since 2000,

you've taken home more than $480000000.00. that's almost half a $1000000000.00. your company's now bankrupt. our economy is in the state of crisis. but you get to keep $480000000.00. i have a very basic question for you. is this fair? i would say to you, the 500 number is not accurate. and i believe the amount that i took out of the company over and above that was i believe, a little bit less than $250000000.00. still a large number of large fries. in fact, both numbers were wrong and both numbers were low. the true number was 530000000 for 2000 to 2007. and dixon said, yeah, i only made 310. that's over $200000000.00 that he took off his total under oh i swear to tell the truth, the whole truth. he did it on television. 1 to the world and this stood up the. 7

why the, i don't even think i could, if you gave me the opportunity to make $550000000.00 and all i had to do was hurt $6000000000.00 people. i would think about it. the temptation is there. the real message is we don't care how you did it. we don't care whether it's real. we don't care whether it's honest, just do it, because you'll be rich and i'll be rich in the financial context, modern executive compensation didn't just create the most criminal genic environment . i created the biggest crimes in financial history and as nothing close on this is absolutely stunning. wall street has been very,

very few days like this. the inevitable happen that has occurred, came falling down, lehman brothers, 158 year old firm filed for bankruptcy, brought down by bad mortgage investments. lehman, which has $25000.00 employees will be liquidated. 2 someone said, you know, corporations die of cancer, investment banks di heart attacks. there was a time when these assets were completely toxic and when they complete the talk, say anybody owns it as a terrible problem and that's the situation. lehman found itself in people basically ran on a speech to lend to it and a government stand behind it. so it collapse the 15th of september, 2018. lehman brothers goes bankrupt. the new york stock exchange headed

biggest drop in a single day. and 911 bank began to stop lending money to each other. the collapse of lehman brothers triggered turmoil and markets around the globe. stock doubled in taiwan in india, then plummeted in europe. the 2008 financial crisis displayed. but the world now identifies financial contagion. there was a world wide recession, you know, the value of real estate plummeted. people lost their homes, you did go through. southwest fed chicago c, foreclosure, foreclosure, foreclosure home answer, home after home that we're going belly up as a result of their numerous businesses went out of business. this is a robot. if this is not random,

it's not hoops. everybody gets hurt. i mean, the impact across the world was measured in the trillions of dollars, the value of what was lost during that period. time is almost incalculable. we've never seen anything like that since 920 ah, ah, me. his crisis has changed world in many long last ways. without the price, this breaks, it would not have happened. donald trump would not be president of the united states. this is a major turning point. you never know what it will be. but the thirty's transformed

the wall because of course he brought us the 2nd world war. hitler would certainly not become chance of germany without great depression. so it changes everything. no the leading company executives wherever brought to justice. i lost everything. all the money, everything i had my wife, my family connections. i lost her in the just the small fish and i was brought to

justice. they all went free. the system is is what it is. and until the system changes, the powerful continue to walk. you've seen that there were some very large settlements that were made, but they never admitted that they did anything. the with there was no admission of guilt, there was no charge of any criminal activity. and i have always represented

that those payments were nothing more than paid some extortion to the department of justice to seal the evidence to lock up the evidence. so the public would never see how widespread and pervasive the fraud was. that was committed. and i truly believe them in these crimes are so vastly larger than any blue color crimes, just off the charts, non comparable in terms of these things. it's what balzac actually said behind every fortune that you can't explain lies not just a fraud, but one up a fraud executed so well that it wasn't prosecuted. the you're now in midtown manhattan on park

avenue. this is the old, this is where leman was after 911. and this building across the street is where dick full, but the oh is working today and his new company matrix capital. nothing has changed . he's in the same business. he always was. some people may think of him as some sort of, you know, guy that was banished forever, but now he's just fine. the world class. there were trillions of dollars of damage. it didn't cost both a dollar. the man put $550000000.00 into his pocket. he kept it all and presumably he's probably grown that pile quite considerably. perhaps he has a 1000000000 by now. the stock market has been doing very well since the

prison was the beginning of the redemption. the judge told me to do something good with your life. and that's why i'm trying to make a difference by speaking to the public about my failures and how they can be aware of what the world is facing me do i think it can happen again? do i think that that's i think that's yes, i do. the theme of the next financial crisis of already been planted. they're growing. we can't see them yet, but there are plenty of signs all around of of trouble. brilliant in. i think there is no doubt that we're going into another crisis of a greater severity than we have just been through. i can't predict what the

instruments are going to be. i can predict the specifics, but i know it would be driven by greed and misbehavior has no consequence. we have shown that we, the public and decision makers basically haven't learned because we never so much understood the crisis. but the bankers of learn the lessons and the lesson was this is sweet. this is perfect. this is a sure thing. i will be fabulously wealthy, and i will not pay any price for it. thank you lord. me . the door

i speak when others don't. ah, we cover all sides no matter where it takes a police fan of your guys when my empowering in pasha, we tell your story, we are your voice, your new, your neck out here. ah, ah ah ah hello, thank you for joining in hope you're doing well. we're going to start in mexico where we've got rain falling and all the wrong places toward the vera cruz area,

which of course, just a short time ago, we had hurricane grace roll through. also wanted to give you an update on tropical storm on re the leftovers have now pushed out toward the biotech. so we see dryer conditions in behind it. boston high of 33 degrees toronto. we've got heat alerts across ontario and southern come back look at the heat index in toronto on wednesday. feeling 45 will get into a proper cold front on friday because we could see some activity on wednesday just because of that high heat the atmosphere will be conducive to themes and storms. high heat for southern areas of california and arizona phoenix up to $43.00 degrees on wednesday for western canada or next batch of what weather impacting that central to b. c. it will eventually slide into the south coast quiet across the prairies. winnepeg, a high of 19 degrees on wednesday are continuous rain falling for coastal sections of ecuador columbia, pushing into venezuela and a bit further toward the south. we do have a cold frank cutting across. this will eventually make its way into cell paulo. so

temperatures will drop big time here, down to 18 degrees by saturday. thanks for joining in. see you soon. the news, the stories that need to be told find away and demand to be heard, the opening the window into another light and challenging perception and personal endeavours in epic struggle with the colossal sacrifices in individual journey witness showcases, inspiring documentary change. the one on al jazeera, the venezuela columbia has become a stomping grounds for trespasses as desperate people transgress and illegal passage to feed an emerging fuel trafficking market. we follow that

perilous journey unguarded through the line of fire, risking at all and israel and columbia on al jazeera. oh, i. we are currently on a pace to finish by august the 31st. the sooner we can finish the better, joe biden. 60 going to down withdrawal deadline, but says the timeline can be adjusted if necessary. ah. hello, i am emily anglin. this is al jazeera live from also coming up. the world bank suspends a to afghan is done after the.