culture is that so much i'm afraid we're going to make a lot of people during the birth of us consumption western lifestyles are being adopted globally but would be advent of the global recession all those who were once rich.

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moscow court finds jailed former tycoon. guilty of stealing billions of dollars worth of oil sentencing is expected in the next few days his defense team is say. take his case to the european court of human rights formerly russia's richest man he is already serving eight year prison term. russian president dmitri medvedev calls for a firm stand against violent nationalism at a meeting with the country's governors the kremlin has pledged to tackle i think tension after riots in moscow and st petersburg. thousands of travelers remain stranded in moscow's airports after a blackout and bad weather caused widespread disruption and cancellations frustrated passengers have reportedly attempted to break through passport control

officials say it could take days to bring the situation back to normal. financial world exposed now by max keiser and stacy herbert. and this is the kaiser report yeah we got some more of those stink in financial dearest story of this show let me review for you so far in the program we reveal to you the shenanigans over goldman sachs now michael bloomberg is suing the european central bank to get them to reveal that goldman sachs is the bank that cooked greece's books to get them into the euro we also told you about j.p. morgan's massive illegal silver short position we got them so scared now they're moved their illegal silver short position offshore and now

a new bank in the news major financial terror is tearing up the global economy for a few quick but it's a bank of america stacy herbert tell me more yes max kaiser bank of america is in the news the first headline i have to read is just his sterile they're planning on major chaos coming major anger from the peasants coming regarding their shenanigans because the first head irene's wow bank of america bought sucks and blows u r l's for like everyone at the company so apparently bank of america is false four hundred thirty nine u r l's including things like brian moynihan sucks dot com who is the c.e.o. and then they went out of their way and bought all sorts of u.r.l.'s for other executives katherine best say it sucks dot com and she's just the global technology an operations executive they bought sallie krawcheck blows dot com they also.

went ahead and blows dot com and so they've all hundreds of these for all these executives and. so let me get this straight bank of america do. boyd a public relations problem went out and bought a bride morning sucks dot com the c.e.o. of bank of america brian moynihan sachs brian moynihan bluenose dot com do avoid a public relations problem and also of course in this propaganda war you want to cover up your crimes of financial terrorism as best as you can and the people on the internet who sussed the stuff out quick you try to divert attention from them because god forbid bank of america should be transparent or obey the law if anyone should perform no no no they want to blow themselves up and everyone around them because brian moynihan stock stock um what else again so let's look at some of the reasons why they might be wanting to secure all of these the u.r.l.

so the next headline reads zero zero. four oh my god bank of america foreclosure thugs break into woman's house and steal cremated ashes of her husband so bank of america is accused of breaking into a truckee california woman's home and stealing all of her belongings including persian rugs her son's skiing medals and the cremated ashes of her husband brian money steals a cremated ashley with clients dot com i'm. now i'm going to seriously bank of america then it's perfect doesn't it because america has become kind of the nexus of this entire global farce that is the club takhar see destroying both the environment and also through the austerity measures that are being imposed on folks that have nothing to do with creating these debts but to me

more students are well it's not just stealing the ashes of you know dead women of a woman's dead husband arizona suze bank of america alleges loan modification fraud so you know this program run by timothy geithner at the treasury called hamp where it's supposed to help keep people in their homes well attorney general in arizona and about us filed civil lawsuits friday against bank of america alleging that the lender is knisley meeting and deceiving homeowners who have tried to modify mortgages in two of the nation's most foreclosure damaged states so apparently hundreds of homeowners kept making their mortgage payments because bank of america repeatedly assured them that their loans were being modified instead many of them lost their homes instead you know they're lying brian mining and lives dot com well start this program name from hamp to prison because that's

basically what bank of america is trying to do is to create a new american prison program to keep people wrongfully imprisoned in the shacks that they sold these fraudulent lenders mortgages to and pretty soon they're just going to turn the gas up guy that'll be the final solution for bank of america's mortgage fraud crisis solution i'm sure well max the other thing to note about this is that the reason why bank of america and the allegations are that actually met all of the banks are doing this including j.p. morgan and other bad. involved in the mortgage market is that they're basically collecting massive fees from the government i.e. the taxpayer in order to modify these loans they collect the fee they keep the fee and then they turn around and tell the mortgage holder that in fact they're not they don't qualify so then kick the person out of their home keep the fee and if this is the story through the entire financial fraud market is that they're just

collecting little fees fees and fees and fees nickel and dime ing the taxpayer everywhere they can now or this is the whole story the bailout is that they said that they're going to use the money to restore the balance sheets of the banks but they just pay themselves these enormous fees and they left the debts on the banks' balance sheets and going forward in two thousand and eleven we will find out that the banks are holding another twenty trillion in bad debts that they have yet to disclose i see something coming up this is truly remarkable you would think after enron we had seen the last of this but please tell the people tell the people well the headline reads max ernst and young charged with lehman fraud new york's attorney general andrew cuomo charged accounting firm ernst and young with fraud for allegedly helping lehman brothers conceal billions of dollars in debt prior to the banks collapse but remember it's this is a civil lawsuit in the lawsuits new york attorney general and incoming governor

andrew cuomo charged ernst and young with helping only when we moved tens of billions of dollars in securities from its balance sheet in order to deceive the public about lehman's true liquidity condition you know i reported on this extensively when it was happening i call the peak of accounting this is a common groups on wall street where before the reporting is meant to be filed with the regulators you simply move debts around as part of this enormous ponzi scheme or hide the parcel scheme now ernst and young of course is been revealed as the. accounting firm that is engaged in the from and their defense of course is that while the lawyer said we could do it the lawyer said we could do it so it's legal because we paid off a bunch of lawyers to write a shyster opinion to say we could commit accounting fraud for lehman brothers while they were committing mortgage fraud so all the banks on wall street could commit securitized mortgage fraud around the world putting banks all over the world into

dire straits and of course this gets right back to the enron scandal arthur andersen was caught doing something similar they went out of business or sucked up by one of these other major accounting firms and the entire business model of wall street and by association america is fraud as i've said before if you took fraud out of the american business model you have nothing left except donuts and guns now going forward what's left that can't be incriminating evidence that would require the government to shut down and young are they really going to let ernst and young dot com ernst and young sucks the big one dot com ernst and young blows the big one dot com are they going to let these perkins shysters breathe another oxygen at all well max actually a lot of this fraud it didn't just happen in america though the crucial role played

by the european banks as evidence in this event as well because the assets were taken off the lehman brothers balance sheet transferred to european banks and then in order to hide the bad debts and then they were transferred back so it's the global banking system these these guys are interconnected and the fraud seeks whatever jurisdiction well allow them to basically commit these frauds right there's reciprocity in the banking sector so a layman commits a fraud using a foreign bank going to bank for example one of the banks and then when it's do it you bet. to report they reciprocate by hiding bad debts on lehman's balance sheet and they go back and forth like this this is how you end up with a six hundred trillion or so on derivatives so-called this is just bad debt that's being created a to hide more debt and to shuttle this debt around the world in ways that give banks deal of reporting profits when there are no profits to report it remember

enron went from a eighty billion dollar company to zero in a matter of minutes when it was revealed that they had just been a huge accounting scandal so i want to point out here by the way that you know as i mentioned at the top of this item that it is a civil lawsuit this is out right obvious criminal behavior and yet these banks for some reason get over and over charged with civil fines and that are very small compared to the crime committed in the damage done because look at this way andrew cuomo says this hour a lawsuit seeks to recover the themes collected by ernst and young while it was supposed to be using accountable honest measures to protect the public so all they're seeking are the fees that are seeing young collected while committing this fraud andrew cuomo of course he's

a politically motivated to do whatever he can just like rudolph giuliani was politically motivated to go after lehman brothers and go after a drexel burnham in his day and then launch his political career but of course andrew cuomo we'll see whether he's actually serious about restoring some kind of justice to the system max actually i would say the opposite because you know mike milken went to prison he did it his time he did years of prison he was for bit into ever trained security ever in the existence of his life again ernst and young which helped commit these crimes is there's no suggestion what so ever that any. body will face any sort of criminal charge well this is the remarkable thing with each in suing scandal the lessons learned by wall street is how to not get caught the next time they break any of these laws instead of modifying their behavior and not to break laws it's a their mentality is how do we not get caught next time exactly and that politicians increasingly provide cover for them so what they're doing is the public

says oh but we punish ernst and young ersten young paid a billion dollar fine which is just the billion dollars that they made committing this fraud and they think that they've been punished even though the guy didn't do any jail time like mike milken did mike milken took establishment he went to prison he served his time he's not allowed to trade securities these people are allowed to continue to exist to commit another crime for another day right and that billion dollars that they're paying the fine is just borrowed from the fed and then circulate it in the global derivatives market for a couple of years until it blows up and then the government forces the public austerity to pay for that billion dollars in the long run anyway so the public has to pay two times for the fraud committed by the bank and then for the bailout that gets thrown circulated as a derivative that blows up and forced the public to pay through via austerity measures thank you so much december for being on the cars report paid to you max right now after the break we're talking with journalist and author after tansey so

don't go away. it was that so much easier to make a lot of people here is. some western lifestyles are being adopted what would be adding to the global recession all those who would once reach. him.

it was we're going. to. welcome back to the kaiser report i'm max ties or time to talk in london with after a tan say author and journalist afshin a welcome to the kaiser report max you sound really enthusiastic after the film i get up sweetie whether we agree with the whole transport infrastructure is falling apart unless it's because it's much keynesian stimulus only because you write well you're a former risk analyst at lloyd's i mean couldn't you have foreseen than somebody for saying that cold weather could have eventually hit the u.k. how are they so totally unprepared applicator to think that in winter it would get colder and. the way it is we don't really think the government should really be

involved in investment in infrastructure especially to try recession because that way unlike the economy that seems to be the current thinking here and all right so imagine keynesianism which of course government spending that you've got the people over the monetarist cap to think that things your bank of england and the central banks to get kick start the whole thing and you also had in may something here interesting about the bank of england warns of a five percent interest rate rise now there's a lot to be said about this notion of a natural interest rate being five percent. what are your thoughts here is a keynesian stimulus monetarist kind of tweaking is going to be an austrian school return to the gold standard or just a lot more of the same going nowhere well i suppose the most important thing is many studies are already showing that poverty is increasing in the united kingdom and people are saying that the coalition government which no one voted for in this country said that welfare policies are going to be increase policy if interest

rates as they want you will see committee member paul fisher seems to be saying you can be ten times what they are no i think that will have some kind of effect on the housing market don't you well the fact is that if you increase interest rates yes you well hit that aus ing market in a substantial way so politically there will be no increase in interest rate as a matter of fact the bank of england as a gauge of quantitative easing for the very reason they want to keep interest rates artificially low which of course is only causing asset prices like precious metals and other stocks status should arrive artificially high prices and at the at the lower end of course the austerity measures are being imposed on a vast swathe of the population is there going to be i see some meaningful pushback here in london with the student rebellion and the student riots as it's

a big trend going forward in two thousand and seven do you think after it sounds like. a real year ahead in britain of massive strikes. and well back bretton woods will stare is he in places like ireland and greece is nothing compared to what the government here are doing without even being ordered to but it's actually institutions people getting ready to strike here in every major aspect of the economy to be very interesting to see how that will affect political constraints and political. policies because how far can the government cut. in the way that the british government is and survive that trend of onslaught those pictures of russian rule round the world well the cuts really haven't hit get there tell us a little bit about how the cuts will affect britain's. cut certainly in basic services whether it be cleaning and road sweeping utilities of local government

spending the ability to really should suffer then when we have. of course the government here to continue its privatization to privatise gustaf for more money for the exchequer but there will be strikes again in all services here because of these because these cuts as profit is ation worked and it seems like they privatized hospitals and are failing their privatized rail system and they're fouling they privatized education what they stop of is that the game is failing at privatisation and the fatter era was a failure why don't they just realise that that has been a colossal failure it's a coalition government ready to try something else now maybe well the pictures from britain live they really make the news all around the world and even the airports and one of the first privatizations of that that you got there was the british airports authority which wasn't even allowing media in to cover the wartime good issues suffered judger in the christmas period as people couldn't travel from the busiest international airport in the world there's privatization british airports authority and because the self of french companies gas and water each has its

all right so british airport authority one of the first enterprises to be privatized by margaret thatcher it becomes controlled by private interests a lot of people are saying well the reason why there aren't enough plain d.i.i. serves and there is no ability to deal with this crisis because the private cheryl has effectively have bankrupted the b.a.a. so that is just working on a subsistence basis and isn't this one of the problems of privatisation as i have got a and entrenched oligarchs just skimming the cream off the top and leaving. institutions like the airports not being able to function outside of an absolute very narrow set of you know climate conditions isn't this true basically after that they're being skimmed off the top here though we go will respond by saying that the pension funds are investing in these protests companies who are all in this together and which will suffer together and we should invest in d.

ices through is because it hits all of a profits in terms of pensions that would be there or you know we are the same argument during the b.p. disaster in the gulf in the united states that something like one some high number one and two and four perhaps my numbers are invested in b.p. stock therefore it's not in anyone's interest to hold b.p. accountable for an eco hole a cost i suppose under that logic of auschwitz had been trading publicly in britain british people would not go after hitler because they own too much stock in auschwitz i met by the same logic where and where my father failing in my analysis after a persistent so you must support authority at all costs because we will suffer if you don't want to george it sounds a bit like a british novelists dystopia to me there's two major dystopian novels of the last century nine hundred eighty four our brave new world one thousand and four is one of total control a brave new world is one of total for balloting people descending into dancing with

the stars of vince cable wiles' career bronze and other distractions was pathway going on you're an author you're a journalist are we going down the total control of nineteen eighty-four are the total for vote for valley of brave new world after what's your analysis going forward will it comes to the british business secretary this group is going out of the sky platform for we now know that criticising the great rupert murdoch is jewel in fact of the british labor but your position was so quick out of the gate to say this is terrible business six to remind you if you sent that he didn't. we could look at much. whether it be across the atlantic or europe rupert murdoch has gone from saying i don't get it and other words vince cable says what's on everybody's mind murdoch's trying to take over the media space murdoch puts out a bunch of pablum for the masses he lies about the war he's a war profiteering err why can't those statements from vince cable say would be

picked up by cameron the coalition government is saying hard to get it done this cable speak of the turf let's get rid of the smarter murdoch from our air space and open up the real competition like a just go what the what the truth and sort of i doing the fact that their entire media space is being corrupted by interests of war profiteers and jackasses like murdoch what are the. sectors of culture who will lead you to kate over your books balance sheet. sky has a very different view he will be adjudicating on that decision competition and he said that with all of the debt to rupert murdoch for services to its let's move our to tony of arabia of course tony frick and i'm a liar blair former prime minister tony blair is raking in tens of millions of dollars from the monarchs in the derivative will there say enabled that or it's corrupt regime here in britain is anyone but the daily mail even interested in this tony blair shimada corruption it's even more worrying that room below. the heiress

would seem to relish that he was a poor man many years before. the fee americans were to use his wife was that you know i think people just seem to ignore it just shows that people can get away with it he continues to be middle east only boy i wonder what sort of in the coming year what we're going to witness in the occupied territories as tony blair wanders around the earth trying to piece that reach right now you mention the roman polanski film that came out at the same time. this scandal when clancy was held by the swiss authorities during a point in time when that film was coming out that all of those real recent altered me yeah exactly the timing was suspect and now we've got of course the julian assad wiki leaks story where you know last year i was watching a video of julian assad praising the freedom of sweden and the press freedom of

america within a year now as being a lot wanted for arrest by swedish authorities and to be extradited to america which become a gulag a senior state i want to ask your opinion about something in america and the progressive talk radio space they're trying to portray julian assad now and the wiki leaks story as a quote unquote false flag attack the cyber nine eleven giving cover for the government to come in and impose all kinds of new direction regulations on the internet are you going into that mean action or towns or what is this the united states they're even talking about the actual cables over here in britain all the b.b.c. could screw you so do so many women except to us so what we. do conspiracy theories surrounding the cartoons of leaks that are emerging from. the story that is just really true but i want to i want to get into this all the more

actually because it's a it's a that in this america talking about it but they're not really talking about it because in a big gala it's a radio outlet like and for wars dot com with alex jones they picked up on this idea that the wiki leaks arrest and scandal is more about a cyber force flag attack everything seemingly is a false flag attack. in my view that's not the case it's a genuine release of internal documents in the name and in the cause of free speech is this how you see it from your point of view or do you are you seeing. more as the plant by the cia to create a cyber nine eleven it's very difficult to tell isn't it the one thing aside from whether i mean doing such a cia that's that's out of the question but certainly reading the cables one has to be very careful because these are after all u.s. diplomats and u.s.

stuff trying to impress the sector states in the united states whether it be under george w. bush or before that so one has to read them with a degree of care and if the evil the guardian newspaper would york giants what history book is necessarily using that because they're very quick to say oh this means this i think you have to look at what these cables say with the low diligence to truly decode them but certainly what comes out is that. the u.s. and its allies are being there but eighty eight craned of u.n. rule or any kind of post and forty five consensus on what it is to be a reputable democratic principled country that they're invited by anything close to the u.s. constitution and the u.n. charter. right after attending thanks for being on the kaiser report.