out of time we've really run out of time here many thanks to our guests today in new york washington and in san francisco and thanks to our international viewers for watching us here are to see you next time and remember cross talk rules. and if you.

just. feel. me. in some. grand hotel emerald. school who took photos in the big old.

gym twenty two. the international community trying to interfere in the case of. his former business associate. have been found guilty of embezzling billions of dollars and. getting back on track after days of delays cancellations bad weather hundreds of flights leaving thousands of passengers stranded frustrated travelers were left without information on their flights. more than a thousand civilians palestinians say they're still living in

a state of siege with little access to. the financial headlines with a twist. this week bank of america cabinet ministers airports handling unforeseen weather. and this is the kaiser report yeah we got some more of those stink in financial dire a 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 amounts of illegal so we're short position we've got them so scared now

they're moved their eagle silver short position offshore now a new bank in the news major financial terror is tearing up the global economy for a few quick but it's 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's past 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 we get this straight bank of america do. 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 stocks 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 oh gee 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 the 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 stupid server 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 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 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 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 and this is the whole story the bailout isn't 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 only when 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 the 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 revealed as the. counting 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 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 is evident 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 then what it's doing to ban. 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 outright 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 of prison he was for been into ever trained security ever in the existence of his life again ersten young which helped commit these crimes is there's no suggestion what so ever that any. but it 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 the laws it's of their mentality is how do we not get caught next on. and

then 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 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 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 for being on the cars report page here max right now

after the break i'm talking with journalist and author absent so don't go away. was that so much like what i thought i heard from a film what they were. saying tyson which is nothing new to the world and it's undeniable that it exists today however how should anti-semitism be defined and. welcome back to the kaiser report i'm max kaiser time to talk in london with after a tansey author and journalist afshin

a welcome to the kaiser report. they sound really enthusiastic after the mud get ups wintery weather we agree with you here in london the whole transport infrastructure is falling apart and it's because it's much keynesian stimulus on the currency rather well you're a former risk analyst at lloyd's i mean could you have foreseen than some we foresee 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 point is we don't really think the government should really be involved in investment in infrastructure especially in a job recession because that way that might kick start the economy that seems to be the current thinking here and all right so imagine keynesianism which of course government spending then you've got the people over the monetarist cap to think that this year 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 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 the book which is increasing in the united kingdom and people are saying that the coalition government which no one voted for in this country said well the. the seas are going to increase potency interest rates says the monetary policy 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 rates 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 data center high 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 are going to be i see some meaningful pushback in london with the student rebellion and the student riots is this a big trend going forward in two thousand and seven do you think after it sounds like. a year ahead in britain live massive strikes. rule the. world bank 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 by its actual 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 what those pictures of russian rule around 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. to really such suffering then when we have. of course the government here is to continue its privatization to privatise gustaf for more money for the exchequer but there will be strikes again all services here because of this 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 they 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 that we make the news all around the world and be in the airports and one of the first pregnancy issues with that you go what was the british airports authority which wasn't even allowing media in to cope with the water and good issues suffered judger in the christmas period as people couldn't travel through much the busiest international airport in the world there's privatization british airports authority and illegal self 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 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 or the liberalisation going to respond by saying oh it's a pension funds are investing in these protests companies who are all in this together and which will suffer together and we should invest and d i. says the runways because it hits all of oprah's it's tensions that would be there oh you know we are in 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 if 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 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 look for it it sounds a bit like the british novelists 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 brave new world is one of total for validating 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 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 you know the criticising the great rupert murdoch. jewel in fact of the british labor but your position was so quick out of the gate to say

just earl the business to remind you if you sent that he didn't like we could look at which. will be across the atlantic we're 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 profiteer why can't those statements from vince cable simply be picked up by . cameron the coalition government is saying hard to get it done then scare will 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 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 is a culture we'll let you do kate over the books balance sheet the sky.

has a very different view he will be adjudicating on that situation competition and he said that with all of the debt to rupert murdoch through the surf students 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 ruin polanski film if the law were wrote harris would seem to relish that he was a poor man many years before if the few americans were it's 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 to any plan 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 polanski was held by the swiss authorities during a point in time when that film was coming out that all of that there was real it wasn't automatic 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 is being a lot wanted for arrest by swedish authorities and to be extradited to america which become a gulag casino 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 of kind of new direction in

regulations on the internet are you going into that mean after your town think well this is a good read of the united states they're even talking about the actual cables over here in britain less all the b.b.c. could ask you is under so 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 is just about rape unfortunately but i want to i want to get into this all the more actually because it's. say that in listen america talking about it but they're not really talking about it because in a big gala say 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 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 and 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 some. of the questions but certainly reading the cables one has to be very careful because these are after all u.s. diplomats and. us 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 people of god you newspaper would york giants would usually go essentially 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 but eighty eight craned of us or any kind of forty five consensus on what it is to be a reputable democratic principled country that didn't get invited by easy close to the us constitution and the un chose. right after it sounding 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 stacy arbor i want to thank my guests afshin rattansi it was i mean email players their cell at kaiser report at r t t v dot our year when till next time the banks guys are saying by all.