me about your thoughts towards the government step outside the mainstream. there has been a implement here some of access points that shift the focus the pandemic that's turned out to be a handy little pretext. the prime minister, if it clamped down on the press, covering the wave. the news is covered for listening post on i just oh, i don't know, he didn't angel. how would the headlines on al jazeera, for my french president's nico, that's crazy, has been sentenced to years, whose attention will corruption. so because he was found guilty of a legal campaign finance and his fails at 2012 reelection bits. natasha butler have more from the course in paris. nicholas,

cuz he wasn't actually in the court here in power to hear the verdict. but the judge found guilty of illegal campaign financing. his 13 code youth also found guilty on the same charges. now, sol cosy has been sent to you one year jail, but he can serve back out at home on the house rest if you'd like word an electronic bracelet. well, his lawyers have already said that he will appeal now will. this focuses on nicholas all cozy campaign back in 2012 is running for reelection. he actually failed to be reelected. got those foreign minister has described moves by the taliban on girls education as disappointing. and a step backwards. bahama been other non off on the spoke after holding talks with the use. foreign affairs chief, joseph burrell, is really forces have shown said 3 palestinians in separate incidents. and women

was killed in the oxen mosque and occupied east jerusalem to legend. they tried to stab officers and a 22 year old man died during don't rates in the occupied west bank. israel says the man was shot after an exchange of gunfire. and a palestinian man was shot dead near the garza israeli barrier fence. the ministry of health and gaza says israeli soldiers opened fire on the 41 year old birds hunter later died from his injuries. pro democracy protested in sudan have gathered in the capital to condemn the recent qu, attempts. it's also a show of support for the civilian faction, of the transitional, government, sedans, military and blame, solid fissions and failing to govern effectively. but protested accuse the army of putting to seize power. and china is rationing electricity as it struggles to contain a power crisis known as 2nd week. problems caused by high coal prices tied supplies and tougher rules on emissions and show up to date. stay with us here on al jazeera

as part see of witness the by you. i'll see here and ryan a call. come on beam. were the largest real estate private equity firm in the world. we've got investments and people around the globe. but by keeping our business entrepreneurial we can move very, very quickly. john gray is the global head of real estate for blackstone group, which is the world's largest private equity manager. so one of the markets you went into was a single family homes. and i know you have a big port covered at 50000, or how do you even find 50 to buy it?

you need a global financial crisis for that to occur. you're sitting around in 2011. you're saying, where is there a large pool of assets that are going to be sold by financial institutions, a big discount to underlying replacement costs and it was pretty obvious. it was single family homes would spend $25000.00 or so fixing them up. and then let's rent them out and make income producing assets out of them like an apartment business, but just not in one large complex. but if we do it enough scale, i was just poking around, trying to get my head around some of the stuff around hedge funds and buying app distressed mortgages and all of that. and i went onto the blackstone website. i worked with bruce for more than 20 years. he's an advocate and i think so differently than anyone i know. so basically buy up the whole neighborhood,

gentrify the whole thing, and double or triple the value of the real estate just because you've gentrified the neighborhood enforced everybody else. and makes no mention of people really at least that by minute. 16 and a half, he hasn't mentioned like the people that would be living in those places. we own properties around the globe. we buy these investments on behalf of a company like wax only, or any the big financial enterprises were the big winners in the crisis. they were the big winners in the housing market. there were also big winners in the equity markets. it was as if the u. s. government, rather than helping the homeowners who are losing their homes, actually sided with the banks, encouraged foreclosures to clean up, the books, gave them money to hedge funds, and private equity firms who then bought the,

the distressed assets to make money. so it is the way that the 2008 crisis has played an important role increasing wealth inequality, united states, and other countries that have been afflicted by the crisis. ah, it doesn't totally work as a statement yet. let me give you a snapshot of the new world of housing while i do so i urge you to reflect on the images behind me. just like that. like i can remember how we did it with the homelessness report. but i remember when i was re reading my statement, i did have that if a pin dropped, we would have heard it in the room. and that's what i need because they don't have the time they're on their blackberries and not paying attention to their i phones, i suppose now, you know, i mean homelessness is a bit different to, you know, we are seeing images of people and part of the problem is that when you're describing the stuff,

it's supposed to be shocking. it's all cranes and buildings and glass and stuff. and so you're not moved in the same way. distinguished elegance. we are living in a new world, a world in which the housing sector has been transformed by global corporate financial actors and massive amounts of excess global capital. global residential real estate is now valued at $163.00 trillion dollars. more than why the world total gdp housing has been financial life valued as a commodity rather than a human dwelling. what i am suggesting is a significant change away from the commodification of housing in order to retrieve what housing means in terms of human dignity and security as

a lived experience, as a human right. thank you. and i was looking through the new buildings, the new state, which is now called elephant park, which replaces the have a state where i used today. ah, was like so many, all of them when you planned as part of the development sold in hong kong and singapore, when that sold overseas are not necessarily sold for people to live in the folders . invest wouldn't like so sort of romanticize what it was like before, right. but it was an ordinary council, the state of ordinary families. at the time of day, most of them have been off to work and off the school and college and so on. ah,

we're dealing with a very, very particular area, the leads, feel free to violate basic laws and. and then they're surprised that there is bitterness among their the working classes that have lost an incredible grad, i mean a lot of ground in our society. so it's a tough moment and following the money brings up a lot of very substantial reasons as to why people are angry. they don't know exactly. they don't have the knowledge, but they know that something is not right. my own work was concerned about a symmetry of information. the tax exempt people know things that other people don't. and that gives some people the ability to take advantage of others. you can make more money, not by making a better product and lowering cost of production,

which is just standard economic analysis. but by fishing for fools looking for people you can take advantage of or they're not creating or actually just taking well if you're somebody like they hadn't, blackstone, i've heard of dog big advantages of no regulation of deregulation ah horse he wants to be able to exploit the people who are living in his properties. ah yeah. i bought my last i own that. have my

mortgage. the problem is the price is around here. in the ground for any any flat route here is extortionate. yeah. and they wanted to give us like a little bit of money as they go, but then i'll have to move out of london. so i decided to stay with most of the people that live in that how a block a still not been home 9 months like 9 months later, i am now in a hostile place that they could offer me could be anywhere in the country. and if i don't accept it, i become intentionally homeless anywhere in the country. well, yeah, i mean, it could be birmingham, it could be manchester anyway. if you can treat people hasta, a tragedy like that. the way they're treating them now will help if anyone have

the picture myself like i'm 5 foot to i'm from nowhere place and i'm trying to make a huge difference globally. i'm trying to change an entire conversation that's embedded in the way people live all around the world. and then i look back at that girl from online sitting in her basement office and it's like, what am i thinking like, am i just if it's ridiculous, am i being ridiculous? me the

it is a totally dysfunctional system. in late 97980 s, they're developed, i'm calling in ideology or religion. that market of all problems will be big letters, will be big, lose in the name of the should the winnings be redistributed to the losers? so everybody ends up where he started, but it would take all the fun out of the high priest was built free, but the big experiment was truly underpin o'shea. it took the dictator to really implement these ideas. they thought that if we privatized strict away regulations, lower taxes, growth would go up. everybody would get more. some people get a lot more at the top. putting aside n, v, everybody would get

a bigger piece of a pie. ah, ignored the many instances where markets do not work well. it was sound freeman gave them economic argument for why they should be concerned about morality. after a 3rd of a century of this experiment, we know that it's wrong that you can make money by destroying. busy the world and something wrong with ah ah, if we're going to defend cities as we know them,

i can't do it alone. i decided to create a new movement called the shift so that we can come up with ideas of how to protect our cities. so it's not an n g o movement. it's not a movement of just cities. it's a movement. hopefully, all stakeholders, you know, they're getting to be launching the ship here in barcelona, where the financial aid station have taken hold. and where there is a mayor, like out of collab, i hired a young woman, julie who had a background in international human rights law, can move them out. one, sort of dest worldwide are linked to poverty in and out of what housing needs worldwide movement to reclaim and realize the fundamental right to housing is putting people for export there. if he knows that there are fellow

now if i speak with you on the be in the line, if you could field a field that graham just got the dallas kicker mobile, this is december 2nd in most of the feel that but as i got maxine was when acosta speak will be in the meantime, if you see that i've been looking at blackstone, that the largest private equity from the more power than the date. if you know, how are you? yeah, you know exactly. you're crying when we have some of these pounds trying to speculate and they want to buy their business, you buy it for you, but we do it because we have money and it's a lot or maybe you're paying my part. yeah, that's expensive. i'm interested to know how the investors volter funds, the hedge funds therapy and be, are reacting to what you're doing is when we,

when we when we book it not to be done, give it one out there. some, some groups acting like goes into the mafia. right. now, i really don't get that into women's health in that moment to where you can talk about your kids and talk about changing the world one to another like so tiny before we got here. and now it was like the mayor of the

so the question is a big question. are you out for it now? okay. ah. 2 ah, be private equity it has taken me some time to ask the question, where are they getting their money from? ah, the pension funds have a huge amount of money and they need to grow in order to make sure that the people who pay in to the pension fund has something to live on their working lives. i mission to so korea was plan well before i had this one piece of

information, but some of the largest pension funds are right here at the national pension service is the 3rd largest pension fund in the world. it was one of the poorest countries. and now the 11th largest economy in the world, in 50 years. that's pretty impressive. but of course, to make that happen in a 50 year period required a kind of brutal ism nath development from patrick. i'd wanted to know how to go when you go to it and pick you will please. it is when you when you're going to tell

them to get them on. you could be from out about one to 2 or 3 weeks that you only had one in there to prepare to go in here it has. oh no one seems to know that that's where their pension money is going. no one seems to really care. i did speak with a couple of representatives from the national pension service and they were pretty matter of fact at 1st about what they have, what their job is, and i get it. their job is to grow money for pensioners. we give our money to asset managers and they then decide where it gets invested,

and so distancing themselves from it. so in other words, it doesn't really matter where the pension money is going, as long as it's a good return. national and city governments in south korea need to make some major shift before they will be in full compliance with their human rights obligations. you know, human rights law is very specific about those types of projects. for the vixen under international human rights is considered a growth violation of human rights. people die enforced evictions and people's lives are basically ruined. so it's not to be taken lightly. oh, cory issues, you know, climate change, housing, they ought to be bedded into the fiduciary frameworks. operation funds.

oh pension funds representing people who are retiring me. you have to ask, how would they feel about this? ah, would they feel comfortable with owning shares and a company that is that immoral? oh, i lived there 38 years. i paid my rent for 30 years and they're supposed to upkeep the building. they're supposed to do stuff that the management company has readily admitted. there's been nothing done for 40 years, so whereas all that money i've already spent, and now the new company wants me to give them more money,

is the familiar story that the same situation is the same situation we're dealing with here. so talk to the media, and this is how we won the rest, right? correct. or here in the 1st month of the rent strike and we were, we went into a month floor. so it's a bit of le hall, but it's worth all your time and effort. so i research, we've discovered that this property management company has investment companies that have certain shares, and one of them turns out to be a pension, a government pension fund holder. so imagine you have george here on the pension, and they are taking care of money for pension holders, right? wait till they find out that somebody who's on a pension is being extorted and they're, they're pushing them out. i get back to the you know, we're doing the shift meeting and then the mayors are going to be there and now

it's pretty cool. i feel lee, you know things can go sideways. overwhelmed? no, i don't know. i have very nice to me to get it done live in my in the course and i was that feel good. i think if that was going to be a me look at this out. i think it we have come together that we see we partners. we look government to build a partnership in the in big question. but if you like

me to you, i don't choice immediately, make me one second to get to chicago even when to talk to you as soon as we get out miss as homely, the don't know what you around this table do. can have a huge influence. it can guide other city to prevent powerful financial actors and they are powerful from dismantling cities as we know them. we thought a lot about about whether it's right the right time for new york to sign onto the declaration. and we decided it really is. i mean, these are issues we're all grappling with. we do feel like it's a great opportunity to be learning from each other. so we're very excited to be

part of this. thank you very much. the. oh, i don't have any pictures of you know, ideas. anyway, we do need to do, we should do another piece. now, jane deadman is back from the guardian. i wonder about taking another kick a bit can on financially i think would be the one thing the one take away that they should know is that fitting around the world are shipping and publicly doing sales . and probably i think i i

in yvonne the head of a mental health hospital experiment with a bonus, new treatment, therapeutic power of love, the prescription room, ah, again doing on his pace and embrace the matrimonial remedy. can wedlock lead to becca wellbeing on his board? the marriage project witness on al jazeera news, news, news, news. it's another beautiful sunny day at 35000 feet.

the weather sponsored by cattle airways, boated world's best airline of 2021. there still watches we know about them in the u. s. plane space, but the robot met in uruguay and there should be because when these frontal systems come through cross the river plate, you get tremendous thunderstorms and a big change in temperature is the result. well, the next system is trying to work. it's where you through and it might cause some interest in want of the day. for example, when a salaries may be the doesn't have to vicious. the next one coming through might be, but ahead of it or usually you got the lower walls and assumptions. places always shows that the temperature forecast was $39.00, is shorter the reco, but not by much. and it went above the average in is up and down. has been going on since, you know, for the last 3 years was on the high side north of the continent. sam is representing the late part of the hurricane season. it might just edge in towards to me to be there, think so. the biggest shouting mexico going to be repeated on thursday and probably friday with a heavy rain is still anywhere really from panama science,

which i think into columbia in the us itself. active systems are wandering slow through the plane states, feet of moisture from the science, colder air, from further west. there are a severe storm warning. got a moment for kansas and i think i'll be repeating the next day or so over the desert southwest. it looks quite storm. he was tempted on the way down albuquerque . on the 20. the weather sponsored by cattle airways voted world's best airline of 2021. 0, for the congolese, the journey to work means unimaginable hardship. i prefer to lay down if you're starting to get the counting to chance in life and live on a dangerous journey through the jungle. i fell on to the rail. i nearly died about children. go to school and live because of the train. risking it all the democratic republic of congo on al jazeera

holding the powerful to account as we examined the us, its role in the world on al jazeera as the u. k. trying to move on from the pandemic, poorest johnson will set out plans to pay for the damage done to the economy. book with post rex it was and authorization to plan benefit. can the government offer reassurances of better times ahead glide coverage of the conservative quality comfort just ah, this is al jazeera ah hello from dough home. i'm hello, he's been with the to see renews are coming up for you in the next 60 minutes. from a french president sneak with us because he is sentenced to

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