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tv   [untitled]    August 26, 2021 9:30am-10:01am AST

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holding back inevitably of mother nature's fury is dangerous and exhausting work done to give whatever we've got. and the hope is the fire will stop when it runs out of fuel. but for the moment, the fuel is everything inside ah madison and del how the top stories on odyssey that there's less than a week to go before the deadline to complete evacuations from afghanistan. but the us is telling us citizens not to go to the airport because of a security threat. it's urging americans already there to leave. panic is going among files and we're still trying to get on to flights. charlotte better says more from couples. we know about 1500 us possible holders remain in cobbled, were meant to be evacuated. we understand that they starting to 2 out of the why,
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if you will missions with the ascending helicopter to try and retrieve these people and get them to the airport because of the threat to tell about also saying to us, we're also trying to secure the perimeter we're also at risk to isolate we also understand that they've got to kind of use strategy to get people and we were witnessing this yesterday with they putting people on buses essentially pre facing them at different places around cobbled checking that they've got the paperwork. they need to get through and then taking those buses as kind of a streamlined process to get past the telephone. support is oblivious. former interim president jenny anita, is demanding her release from prison. medic say on us is in a stable condition after she tried to take a long life. she's been charged with genocide over the death of protesters in 2019 columbia and authorities seized more than $1.00 tons of cocaine from a dissident on group. they say to foreigners, on the columbia,
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and we're transporting it on board, a boat headed towards central america. the group allegedly responsible is an offshoot of the fox gorilla organization. every rains have left several communities in columbia under water rivers have stolen flooding towns and destroying plantations. the rainy season has already killed dozens of people. the damage files of homes are rapidly expanding. bush fires, threatening homes and businesses in san bernardino. in the u. s. state of california, firefighter se wins are making it difficult to contain people living in the area have been advised to leave. the state of new york has revealed that more than 12000 corona virus, deaths went unreported under former governor andrew cuomo. it brings the total to more than $55000.00 previous records and excluded those who died in their own homes . those are the headlines and now it's back to the men who stole the world. goodbye
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. the news. news. news . with me.
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i read was definitely the driver as it is on most for the city group is not the only one comparable level of fraudulent mortgage loans have been seen in all. the big wall street bank, ignoring the risk of bankruptcy bank, began to borrow a mass amount of money to buy more and more and mortgage loans and package them into derivatives. the top underwriter is the peak years of 20052006 lehman brothers. at a $106000000000.00. lehman was one of the largest makers and sellers of the absolute most toxic loans in the entire world.
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lehman brothers was one of the largest fraud vectors in the history of the world. are i sure my name is anti and lucas? go 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 determined how and why lehman went into bankruptcy.
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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 the brothers were the 4th largest global investment bank in the world. that by famous ceo, dick full. hi, my name is 6 fold. 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 for you. the food will be the 1st things. first, your money a person who was viewed as
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a lion on wall street. i believe that in the year 2008, the very year the bankruptcy was named by forbes of is one of the top 10 executives in the country. they called him 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. squeeze them hard. not that i want to hurt him. 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
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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. i, my name is all over buddha, and i was an in house lawyer, i 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. the tone coming from the
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top people guys around him were, go for pushing, go beyond the limit. 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 fault made his fortune at lehman brothers. he was a billionaire. so you say, well, i think he had a wrong, it ask you, are you a 1000000000 or have you made a $1000000000.00 trading? i am. and here. 2
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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 demon was massively leverage 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 a capital it had,
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it had $30.00 to $40.00 in debt. 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 was called rico one fact this was something that leman 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 quarter. 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 or loan, but this was
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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. then 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 fool 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 in the streets. said, wow, layman's doing okay. are for a strong today. we will merge from this cycle,
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even stronger. we've done it before and we will do it again. so if it's the number, yes, my opinion, they absolutely fudged 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 and accounting gimmick to make themselves look better. so they knew what they were doing. so they were id information to the bullets. yes, that's my. that was the opinion we can reach and the report isn't it's against the low. well, if you file a misleading statement, and you knowingly file a misleading statement and the 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 for the c s s, but nobody was arrested or charged for the now there were no rest. there were no
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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 reap one o 5 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 are 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 or 5 portion of the financials to show the effect of this. and then vic folds answer was, well, they might have sent me emails, but i don't know how to work
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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 jackpot place to make money. and the most money was walk for 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 the accept the lifestyle
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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 way 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 were a $1015000000.00. another place in idaho, a sun valley, some sort of
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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 companies 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 factors . both numbers were wrong and both numbers were low. the true number was 530000000 for 2000 to 2007. and dick full said yeah, i only made $310.00 that's over $200000000.00 that he took off his total under. oh,
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i swear to tell the truth, the whole truth, he did it on television to the world and stood up. 7 take him away. i don't even think i could use it. 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 messages we don't care how you did it. we don't care whether it's real. we don't care whether it's on us. 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 tonic environment. it created the biggest crimes in financial history and as nothing close on this is absolutely stunning
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wall 3 has seen very, very few days. like the inevitable happened. the house of heard 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. someone said, you know, corporations die of cancer, investment banks dive heart attacks. there was a time when these assets were completely toxic and when they completely talk say anybody owns it as a terrible problem and that's the situation. lehman found itself in people basically ran on it to lead to it and the government stand behind it. so it collapse the 15th of september, 2018. lehman brothers goes bankrupt. the new york stock exchange headed
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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 thought tumbled in taiwan in india, then remedied in europe. the 2008 financial crisis displayed what the world now identifies as financial contagion. there was a world wide recession. you know, the value of real estate plummeted, people lost their homes, you to go through south west side of chicago and see foreclosure foreclosure, foreclosure home after home after home that were going belly up as a result of their numerous businesses went out of business.
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this is a fraud bud. this is not random. it's not oaks. everybody gets hurt. in the impact across the world was measured in the trillions of dollars. the value of all was lost during that period. time is always incalculable. we've never seen anything like that since 1920. ah, this crisis has changed the 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
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states. this is a major turning point. you never know what it will be, but the thirty's transformed the wall because of course it brought us the 2nd world war. hitler would certainly not become chance of germany without great depression. so it changes everything. no of 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
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just a small fish and i was brought to justice. they all went free. the system is, is what it is. and until the system changing the powerful continue to walk. you seen that there were some very large subtle, much that were made but they never admitted that they did anything. the with there was no admission of guilt,
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there was no charge of any criminal activity. and i have always represented that those payments were nothing more than pain. an 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 of fraud executed so well. that it wasn't prosecuted.
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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 b o 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 is just fine. the world collapsed. 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 crisis. me, me
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prison was the beginning of the redemption. the judge told me, is 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. do i think it can happen again? do i think that that's i think that's yes, i do. the themes of the next finance surprises the already been planted. they're growing. we can't see them yet. but there are plenty of signs all around of of trouble. berlin in i think there is no doubt, we're going into another crisis of
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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 have 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
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. hi again, we're talking about the 3 h's across the middle east, hot, humid and hazy. so let me show what's going on. we do have a wind blowing down from the rock through to the gulf. that's shamal when and on thursday we could see those got up to about 45 kilometers per hours so that spins around the sand and dust. we do have high humidity for places like cats are so high, wrote we talked humid and hazy relative humidity, 85 percent. so your court temperature is $42.00, but it will feel about $52.00 and will lock into that pattern for the next several days breezy conditions across southern areas of pakistan, karachi, so sand and dust storms. the concern here, 39 degrees will be the high in the hor, on thursday. we do have some energy moving across the bulk ins, but i don't think that it's gonna push into is stumble. so we look at the next 3 days. a mix of sun in cloud and your temperature is actually above seasonal. and
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we'll get into the breezy conditions on saturday, tropics of africa. we have our storms through ethiopia, and also gab on and cameroon rate, through to western africa, whether france lands into the western cape, we'll see winds in cape town, about 72 kilometers per hour. this is thursday, look at saturday, brings a cool pool of air. we've got snow in was to, to, to content with the, who's that emma on the right. as morocco records would be impacted with 19 the country votes and parliamentary elections that will shape the future. while the listening post dissects the media, how they operate, the stories they cover, and the reason why the 911 attacks open the world 20 years on the war that followed has finally ended and i've gone to sun. but that's what caught, this didn't real, obviously, unique, attractive on african, happy in history,
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through the eyes of the fearless and vision refill makers. germany goes to the poles and elections the, the anglo merkel replace up to 15 years in power. what will the result mean for german and european union? september on al jazeera ah, growing concerns about possible terror threats. dennis john, the us and its allies or the susan to stay away from hobble a cause. ah, why am emily angry? this is al jazeera, alive from jo. how also coming up, easy, learned, and strongly as struggled to contain rising numbers of coven 19 cases. brazil's
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indigenous people, 5 land.

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