in disclosing details already i just know sherrie. the government is having another go at improving russia's notorious rose this time by increasing spending that's according to the head of russia's federal road. must leave the ship goods upon you to the next year from the federal budget a total of around three billion dollars will be allocated for all the roads in the country that's an increase of over twenty percent from two thousand and ten which that's why we plan to increase both the level and volume of road maintenance. and that it was a business of davis solid tone it's from zero in about fifteen minutes time.

wealthy british style. markets. come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines two kinds of reports.

seven thirty pm in moscow good to have you with us here on our team using your headline russia slams the u.s. for attempting to influence the trial of. the former oil tycoon away in sadness after being found guilty of embezzling billions of dollars. causing her frustration grows on moscow's ice cover to airports. as they struggle to cope with the flow of holiday travelers officials say they're doing their best to make sure flights take off on schedule. and two years after israel launches a large scale assault on gaza killing more than a thousand palestinians those who survived say they still feel they're living in

a cage this trip remains blocked off by israel with tight control over everything going out or becoming it. more on these stories about thirty minutes first though the financial headlines with a twist courtesy of max kaiser and stacey herbert this week they tackle the bank of america cabinet ministers in airports handling of unforeseen weather kaiser report coming your way next stay with us. and this is the kaiser report yeah we got some more of those stinking 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 so we're short position we've got them so scared now they're moved there is a little 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 break 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 covering 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 thank you america's boss 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 catherine 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 below is that common so they've all hundreds of these for all these executives and. so we get this straight to the bank of america to. boyd a public relations problem went out and bought a bride morning and 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 this stuff out quick you try to divert attention from them because god forbid bank of america should be transparent or obey the law in any way shape or form 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 you are else the next headline reads zero zero. four oh my god bank of america foreclosure fugs 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 creamy to 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 talker 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 stupid server well it's not just stealing the ashes of you know dead women a woman's dead husband arizona sues 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 nevada 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 currently 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 it's not they should change a 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 banks 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 feed and it's 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 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 blew still the people killed 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 lehman removed 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 called a peekaboo 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 rude. eld the accounting firm that is engaged in the from and their defense of course is that well 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'd 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 ernst 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 will 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. and when it's do it your bags turn 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 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 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 in 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 anybody will face any sort of criminal charge well this is the remarkable thing with each ensuing 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 and again politicians increasingly provide cover for them so what they're doing is the public says oh but we punished ernst and young ernst and 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 as punishment 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 circulated 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. right now after the break we're talking with journalist and author absent it sounds so don't go away. soon which brightened. from silence to oppression. starts on t.v. don't come. welcome

back to the kaiser report imax keyser time to talk in london with after a tansey author and journalist afshin a welcome to the kaiser report max you sound really enthusiastic after a good get up switcheroo whether we agree with the whole transport infrastructure is falling apart and it's because it's much keynesian stimulus on the cards here as well you're a former risk analyst at lloyd's i mean could you have foreseen that in some way for see that cold weather could have eventually hit the u.k. how are they still totally unprepared applicator to think that in winter it would get colder and the point is we don't really think the government should really be involved in investment in infrastructure especially in a time recession because that way that might kick start the economy that seems to be the current thinking here and all right so if you mention keynesianism which of

course government spending then you've got the people all over the monitor as cap to think that they see your bank of england and the central banks to get kick start the whole thing and you also handed me something here interesting about the bank of england warns of a five percent interest rate rise that there's a lot to be said about this notion of a natural interest rate being five percent what are your thoughts there 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 well their policies are going to be increased budget if interest rates as they want you will see committee member wolfish it seems to be say to 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. is that if the arrow increase interest

rates yes you well hit that housing 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 and stocks status should arrive artificially high prices and at that at the lower end of course the austerity measures are being imposed on a vast swathe of the population is are going to be i see some meaningful pushback 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 live 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 who are 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 what those pictures of russian rule round the world well the cuts really haven't hit yet tell us a little bit about how the cuts will affect britain's. cut certainly in basic services whether it be cleaning. road sweeping utilities or local government spending people who do to really search suffering then we have. of course they're going to be able to continue its privatization approach as opposed to offset 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 that they privatized hospitals and are failing their privatized rail system and their failing they privatized education what these top up fees that scheme is failing privatization and the fatter era was a failure why don't they just realize that that has been a colossal failure as a coalition government rare ready to try something else now maybe we'll all be just written to remake the news all around the world and be in the airports and one of the first privatizations of it that you go through with the british airports authority which wasn't even allowing me here in to cope with the war changed issues suffered judging the christmas period as people couldn't travel from the business it was actually the world there's privatization british authorities and because of french companies yes and it's 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 shareholders 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 is that you've got a and an 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 but we really should go respond by saying oh at 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 our profits in terms of tensions that would be there and disciplines well 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 for him. 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 i've 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 pretty good shit so you must support authority at all costs because we will suffer if you don't want to georgie sounds a bit like a british novelist stupid to me there's two major dystopian novels of the last century nine hundred eighty four brave new world one thousand and four is one of total control a brave new world is one of total for validating people descending into dancing with the stars of vince cable whiles 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 a vote for valley of brave new world after what's your analysis going forward well

when it comes to the british business secretary this group is going out of the sky platform for we now know that criticizing the great rupert murdoch. jewel in fact of the british a book your position was so quick out of the gates to say just earlier the business to remind you of you said that he didn't like we could move to look at much. later be across the atlantic or your europe rupert murdoch is going to say 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 simply be picked up by cameron the coalition government is saying how to get it done this cable speak of a target let's get rid of this model murdoch from our air space and open up the real competition why can't you just go with the what the truth and set of hiding

the fact. that their entire media space is being corrupted by interests of war profiteers and jackasses like murdoch well i think the. sex or culture will lead you to kate over the 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 his services to june's 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 their say enabled through its corrupt regime here in britain is anyone but the daily mail even interested in this tony blair shimada corruption it's even more room in cologne skifield the local rupert harris would seem to relish that he was a poor many years before the few americans were to use his wife was that true.

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 to any of them want to roam the earth are trying to piece their reach right now you mention the roman polanski film that came out at the same time this scandal polanski was held by the swiss authorities during a point in time when that film was coming out that oh i bet it was real it wasn't automake 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 there 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. julian assange 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 of kind of new direction regulations on the internet are you going into that mean after downing what is this again really the united states that they're even talking about the actual cables over here in britain or less all be secret us curious on just how many women except with so what. do you want their conspiracy theories surrounding the kinds of leaks that are emerging from the wiki leaks cables and us here in britain the story there is just about rape unfortunately but i want to i want to get into this all the more ashleigh because it's. say that in this america talking about it but they're not really talking about it because in a big gala say radio outlet like in four wars dot com with alex jones they picked

up on this idea that the wiki leaks arrest and scandal is more about a cyber fourth 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 in the cause of free speech is this how you see it from your point of view or do you are you seeing it more as this plant by the cia to create a cyber nine eleven i think it's very difficult to tell isn't it the one thing aside from whether i mean to 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 sec's you states in the united states with ruby i'm sure people should go for that so one has to read them with a degree of care and if even the guardian newspaper would. jones would wish legal

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 what comes out is that. the u.s. and its allies being there but eighty eight trained of un or any kind of post and forty five consensus on what it is to be a reputable democratic principled country that didn't get invited by anything close to the us constitution and the un charter. right after attending thanks for being on the kaiser report. and that's going to debt for this edition of the kaiser a par with me max kaiser and stacey arbor i want to thank my guests afshin rattansi if you want them email place their cell at kaiser report at r t t v dot our year until next time that it backs guys.