it's half past the hour in moscow this is the government media conspiracy of long lines the french demands know the truth about the conflicts that are involved and which threaten to ruin the country's international standing many are against president sarkozy's policies which they say are following an imperialist agenda. again what we've been the game all she explores why the fighting in the middle east and north africa resulting problems for the american strategy to slow the rise of china experts claim to be stabilizing countries will stop its all china's energy

security of prevent it from becoming the new superpower. and to seek russian prisoners request for a mercy killing quotes fresh debate on whether euthanasia should be legalized all some call it murder others insist it should be a basic wrong to terminally ill patients. financial analysts not as kaiser reveals how bad investment advice could be boosting profits on company. maj kaiser this is because the report of the silver liver asian army global true or rocks this past week i was in dublin at a place called the grand social to a packed house people came down to listen about the message of the global silver liberation army and if you want me to come to your town send me an e-mail kaiser

report at our two t.v. are you there is no place on the globe that should not hear this message will be there it will be iraq in good time let's get the latest let's go to there are so through her reporting you were gorgeous back we've been talking about the global financial crisis led by the global financial terrorists and they are in the news today max goldman sachs misled congress after duping clients says levin senator levin alleges that goldman tried to artificially depress the mortgage market in two thousand and seven to amass a short positions and goes on to detail structured securities that goldman marketed to investors saying the firms interests were aligned with fair only they weren't why would goldman deny what is so obvious that they were engaged in a huge sure the year two thousand and seven why would they deny it. because they

get to expensive their clients and they used to be you should practice is to do it that's right the firm allegedly knowingly and let's be honest they surreptitiously sold as mr eleven calls them deals to people knowing that they would collapse in value they made bets against the collapsing value and they made a mockery of their clients why anyone does. this business was golden it was a kind of goldman sachs i mean there fraudsters look at this facebook deal and he saw the state they're over but goldman violated s.t.c. laws they offered a facebook insider deal the more than five hundred investors the f.t.c. what was their response did they say oh risk a prosecutor goldman you broke the law now they're f.t.c. said maybe we should revise the law to accommodate all the facts so that's the problem goldman sachs can break the law if lloyd blankfein went down to the post

office any slit some old ladies threw out he would get off scot free because he would say to prosecute me it's systemic rather risk to prosecute a it's a threat to national security and it's a first come to shove is going to change the law and make c.e.o. of wall street bankers legal to slit old ladies throats their own touchable it's worse than the mafia it's guys are to absolutely on such a goal they're a cancer and you gotta purge him. so the michigan democrat also said federal prosecutor should review whether to bring perjury charges against goldman sachs c.e.o. officer lloyd blankfein and other current and former employees who testified in congress last year levin said they denied under oath that goldman sachs took a financial position against the mortgage market solely for its own profit statements the senator said are untrue so what are you serious consequence specific case facts about this specific situation oh well let me say this about that replay

cards a report from the period when he was making that testimony and i said explicitly on this program that he was lying i thought i said them but also you know the guy lied perjured himself ok but the reality of it should be and you know so the panel said goldman sachs relied on abusive sales practices it wasn't rice with conflicts of interest and in particular in the case of one c.d.o. hudson mezzanine funding two thousand and six dash one goal at saks told investors its interest for aligned with theirs well the firm held one hundred percent of the short side yeah ok well we've been reporting on this for months the firm as outrageously gone around all the existing securities laws to make billions of dollars remember wall street last year paid him some one hundred forty billion dollars in bonuses by extracting by rent seeking by larceny by pilfering you know

how many pseudonyms i need to string together before i get the point here they both would just go down the street with the quote marks on the head steal their money this is their business plan if you took away from a lot of the american business bad out of the u.k. business plan they'd have no economy whatsoever it was entirely on freud lloyd blankfein is your schmuck and he's the worst of the worst that guy can even cause shoes without breaking the law i don't know how i don't need bernie made up look like mother teresa. there this guy carl levin himself can't say he has to be prosecuted he's recommending doesn't partment of justice actually pursue a case against lloyd blankfein for perjuring himself which i think is still a crime in the united states i don't know how he's going to get out of that in terms of systemic risk argument oh i mean what is carl levin want to shut up a million dollars two billion dollars whatever it is goldman will pay it go to court talk or see there's no justice for a loved one or through this code he's a wimpy to weak man he won't do anything to not honor you know whatever nice i have

to hand max is such a digit part in a justice so they're responsible for pursuing the case against. against lloyd blankfein if carl levin says he believes there's a case it's up to the department of justice whether or not they decide pursue him ok you're right i get it it's going to cross twenty million in my craw spirity million to get the whole department of justice whatever the price doesn't matter they'll pay the price if we're very polson to go in front of congress and extort seven hundred fifty billion dollars to bail out of the cold in fact how much would it cost to pay off a department of justice twenty billion because printed up out of their pockets with all fictitious reoccurred say there's no justice there is no rule of law well as we reported last week however as well that the department of justice never even pursued prokofieff bank which laundered four hundred billion dollars of mexican drug money and they didn't pursue a criminal case that's right stacy herbert they could move four hundred billion

dollars of that code body right under the department of justice is known and their responses. give me more like oh. ok ok i don't believe i'm just of the other thing that isn't worse than this new report out by carl levin is e-mails show how great lippman built joy to banks five billion sub fine short duping c.d.o. fools so this is. lippmann of deutsche bank and again they were targeted along with goldman sachs as being the worst transgressors of of all known like legitimate conduct by a bank and selling derivatives and he they found e-mails where he was selling to investors bonds that he said blows yikes quote i didn't see that half of these are crap and the rest are ok he calls them a pig c.d.o. then he shorted it covered this short by duping c.d.o. fools so he said that they were the c.e.o.'s that he was selling were crap and that

they needed to find a fool to sell it that's right a fair bit of the daisy chain of frog they repackage the same garbage over and over again and it's over the same company pension funds managers who are given a huge supply of vodka and cocaine to look the other way while they buy suspicious karate c.d.o. products a big very independent counsel then a year later the government all say we have a crisis we don't have enough money to pay our pensioners they don't mention the fact that the reason they have no money is because it disappeared thanks to blankfein goldman sachs that other smart as you mention and some corrupt money manager and hedge fund manager and pension fund manager recording together to defraud the american people to defraud the global economy to steal billions hundreds of billions of dollars and laugh in the face of people while they're doing it well you know there's a big move by the republicans to water down any of their already watered down frank

god act in which these derivatives are supposed to be you know given some light of day by being traded on an exchange but. you know there's nothing really to protect us from. same thing happening nothing on the on the rise and i think i mean there are these reports and and a statement that perhaps lloyd blankfein should be charged for perjury he should be charged for perjury what about for mass murder are destroying the global financial system murdering the entire middle class oh yeah i will be yes the point was made that the entire middle class is being murdered with the help of ben bragging over the federal reserve of his little minions over there like blankfein and the rest and of course they do much damage then then any terrorist organization like al qaida or any other groups are peanuts they're pikers compared to the mass murder that's happening in the middle class thanks to these bankers on wall street and of

course like any theological fanaticism any religious extremism the people who get murdered by these folks consider themselves martyrs so merican who are dying because miami real estate down terminal velocity toward the last las vegas real thing now terminal velocity into collapse they're dying in the streets and they say thank you lloyd blankfein for making me a martyr for your extremist cause the pathetic is that that's why i'm sort of american myself buying gold and silver the hell with them they're not worth saving there's one person looking to resolve the situation jim grant america well it's all for debt by returning to the gold standard let's take a listen to what jim grant told. jim how will the u.s. finally resolve its debt and deficit problems well if my mind will resolve them necessarily by undertaking the steps of restoring the dollar to convert abilities

because we have forty years of failed resolve the matter of kiddie. pool and the only way to do it is to reinstitute currency converter filthy which was right near the road something like. well you know for sure the super rich right well the dollar will never be restored to any respectable place in the global economy it will become extinct and the gold standard will still be talked about as the dollar is replaced by global currency probably in s.t.r. related bank or type b i yes denominated global unit of exchange and are going to try to float another one hundred trillion dollars of the bad debt and this war between paper pushers and the psychos on wall street and the gold bugs like jim grant will continue and the price of gold will continue to go higher she just came out and said gold going to sixteen hundred dollars this year on its way to ten thousand dollars silver is going to five hundred dollars so your pastor of what

side you want to be on you want to be on the side of worthless paper or escalating in price precious metals it's something you say to her that's all the time for we have thanks again for being on the kaiser report thank you max don't go away much more coming your way so stay right there tomorrow and. tomorrow. morning's today violence is once again flared up the elite are the images. from the streets and can. show you the racial to do. greet them we've got. the biggest issues good the human voice face to face

with unusually good. welcome back to the kaiser report time now to go to new york and talk with janet goalie of the colli structured finance janet is an expert on weapons of mass financial destruction otherwise known as derivatives she is also the author of dear mr buffett what an investor learns one thousand two hundred sixty nine miles from wall street journal welcome back to the kaiser report i'm max how are you. suggesting to have a call the sense we spoke the insiders got out there mr warren buffett apparently he's not wearing any shorts now tell us about the departure of heir apparent and the with a front running insider trading what it says about the bigger picture and u.s. banking that it's out of coley own necks this is kind of case of telling the truth slowly i think you're aware that warren buffett issued a press release and memo talking about the departure of david so call who was the

head of american energy and david so call. was also somebody who looked at acquisition candidates for berkshire hathaway now as the facts are coming out it appears that he was in a meeting with citi group bankers on december thirteenth and the next day he bought shares in a country called oversaw not in a company called loopers are now the day before the citi group think ors understood that they were talking to david so call in his capacity as an officer of berkshire hathaway in a capacity of an officer who evaluates potential acquisition candidates for it sure hathaway that seemed to be their clear understanding and in that meeting david sokol asked for a meeting with the president of lubrizol his so he sought that meeting and on december seventh. we now find out through bloomberg news that on december seventeenth the city group bankers gave feedback to david so call that the

president of lubrizol you know was going to bring hathaway's interest forward to the board of directors at lubrizol so it's pretty clear that he had information that the public didn't have that this was a potential acquisition candidate for berkshire hathaway and in the past the stock prices of acquisition candidates of berkshire hathaway have popped up so after all of this go around david sokol is buying shares in lucas all saying that he had an interest in it for his personal account before he met with the city group bankers none of this sounds plausible but what is really harmful diversion hathaway is the attitude taken by charlie monger and warren buffett who have always said that we hold ourselves to the highest standard of corporate governance and we wouldn't tolerate this kind of behavior and the press release looks an awful lot like covering up an excusing insider trading in their press release warren buffett said

that it is neither david sokol nor i believe that he did anything unlawful here's a problem with that i actually believe he did something unlawful now that's my opinion but it's also the opinion of a lot of other professionals now i don't speak for them i'm speaking solely for myself so the problem is that the press has gotten on to this for a couple of reasons one of the reasons is that within that memo uncharacteristically warren buffet said if anyone has questions about this i'm going to refer them to this press release to the cinema well in the past is always talk about transparency and i was willing to entertain any question at the shareholders meeting so entertain any question apparently not on this topic so why the lack of transparency here right well i mean warren buffett has been saying all along and we've talked about this before this is over rated. if you strip out a lot of the back of channel dealing the insider trading the market relation the

cozy relationship with goldman sachs and the banks on wall street is stripped out that from his performance you're back to you know not much better than the s. and p. so i want to get but i think what warren buffett though unlike other shysters back to the wall street he's got this first saw out of the bottle the graham you know grandfather who is above the fray and who is everybody's you know really the moral rectitude is to be emulated but we find out if you know the day is like everybody else now what about buffett's recent testimony to congress in which he claimed that nobody could have seen the collapse of the housing market coming so moody's and other rating agencies were excused for giving mortgage backed securities aaa ratings this seems like outright duplicity of on bachmann's part without a shadow of a doubt callable you know i'm glad you brought that up max because you're aware that i wrote the book called dear mr buffett about the financial crisis where i was contrasting the principles of benjamin graham that warren buffett espoused and

charlie munger spoused to what happened during the financial crisis and i think the preliminary traffic my manuscript came out in july two thousand and eight i sent it to warren buffett he looked at it he liked it and in there of course i'm a big critic of the rating agencies and all along i've been criticizing the rating agencies one time they just list in february of two thousand and seven i wrote a letter to the f.c.c. and by the way he gives me feedback on it and i wrote to the f.c.c. saying that the rating agency should have their an arrest or zero designation revoked that the aaa ratings were phony i gave an example of a phony product that was rated triple a that within a year the principals of the investors lost ninety percent of their principal and i was warning about it when the product first came out was rated aaa and that was in my letter to the f.c.c. which is still on their website so it's not as if he didn't have the. jackson hand yet right right we're going to let me jump in here i mean yes you see his letters

every day they go letters two or three times for people who point out that bernie made off with a huge projects game and should be shut down they didn't act on it and this he does and in these letters there are captured regulator they're understaffed yes and i think you're being that we're going to be i think you're being a little unfair to the f.c.c. of course they have acted they acted to help cover up a way let me let me cut it right there jones i'm going because just this past week we have a situation with goldman sachs goldman sachs broke the law they sold facebook insider stock to more than five hundred investors about giving full disclosure of financial details that's a good test d.c. law the response of the f.c.c. was to say well maybe we should rewrite the law only voice what somebody throat is like and i go to the job and i say george my defense is that you need to rewrite that law what was what why did why those of warren buffett goldman sachs j.p. morgan what about complying with the law you know max the camera got so upset it moved while you were talking i agree with you and the s.c.c.

is allow them to get away with form over substance arguments and you know they're just simply not doing their job well they are doing the job their job as they see it they just haven't announced everybody what their job is and it's to enable coverups to basically distract people with non issues to you know people on minor issues issue minor fines and then declare victory you know we're being totally pumped here by the regulators the f.c.c. should have been disbanded very shapiro who was the head of finra if you look at spinners track record investors would lose arbitration and the ones that they won they would recover less than their their losses those who want to are colby of baghdad by wells fargo which of course is. warren buffett's bank in california they just paid one hundred sixty million dollars fine for laundering nearly four hundred million in mexican drug money. why no prosecution calling well you know i think there's been no kind of prosecution because again of our captured regulators when

you look at the horrific press that this is gotten were basically well copia was laundering money for a mexican drug cartel that is killing mexican citizens so basically the united states has helped aid and abet this through. money laundering through a covert and mccovey i think by the way wasn't alone in that but these are very serious issues and that's not the only serious issue that wilko of you had you recall that will cost you about golden west those you know loans from golden west many of them were just circling the drain at the time that golden last they were securitizing those loans they had a problem with the c.d.o. as that. put together because he was also acting as ensure media for toxic c.d.o. through all their investment banks they were scratching each other's backs because he was marketing the commercial paper to which was a toxic structured product put out by barclays and they were marketing that up and

down the california coast and they're being sued right and left over that this thing didn't have just one governance problem just one kind of management problem it was riddled with management problems and you know our treasury and the fed allowed a merger of a bank clock. first of all with goldman last and then look over your with wells weakening stronger banks and of course you know a lot of behind the scenes double dealing was done to accommodate a merger between wells and we'll call it including an unconstitutional change of the tax rules to allow what co you to be able to write off losses rather to write off losses. to base the first hundred billion first four hundred billion in a mexican drug money laundering then you've got hundreds of billions in lost laundering. goodly accounting fraud again what provia again carter wells fargo again over you know under warren buffett's watch this guy is really just bernie

made off with a nice shirt with a nicer suit maybe no i should correct that well now this is burning a lot of the good food they said they had to be careful what you hope people accountable for because i look to the wells management mccovey management for that but with with warren buffett his lack of it is what i would call a reverse moral suasion is what's really been the problem because he has a lot of influence a very high profile a lot of capital and goodwill built up over years through brilliant p.r. and managing that very effectively up till now in some cases he's had some warts on that is jonathan model of bloomberg was happy to point out for us and as john gapper said in a recent financial times article basically to the international community looks like the he and charlie munger look like the beverly hillbillies of finance you know talking spewing out these big platitudes but now when you look behind the

platitudes you find out that there's something darker going on and i kind of trace that back to about august two thousand and eight is when i really saw this fall off a cliff warren buffett was on a town hall panel after david walker's piece called io usa talking about the big debt the u.s. government was getting into and this was a month before that the allies and warren buffett broke ranks with everybody on the panel including david walker pete peterson a number of other people on the panel and he was the only one that broke ranks and he basically tried to minimize and undermine the entire message of the movie and of the panel and basically he said the united states you know we're good for it we can produce our way out of all of this big debt but i think he knew that the fannie and freddie bailouts were coming and that the aig bailout was coming and i think that's why he did it because it was going to. it is huge windfall instead of prosecutions of the blue financial kiss' in the direction of the wall street and i think he knew

about it and i think that's why he did that and ever since then his dialogue has been to minimize the damage to investment bankers instead of saying oh i can't you know look at these micro issues like who should be prosecuted i'd like reform of the tax code you know what the tax code can't touch and not because he's already sequestered his own assets and taken advantage of previous tax rulings so there's a huge wave of apocalypse c. and the appearance of i'm doing the right thing meanwhile unfortunately too much of this. public dialogue has been against the right thing and now that this insider trading number has come out a lot of people in the press first of all they were confused they were actually ready to believe that there isn't an insider trading issue here because warren buffett said so that's how powerful this p.r. is until lot of rational people just said oh please he's not buying that obviously there's a huge insider trading issue here it should be investigated and if david so called doesn't go to jail and if warren buffett doesn't seem to be covering up it's not

because it didn't happen it's because we have a captured regulatory system and i saw that response with buffett in two thousand and eight and it was quite shocking and he himself famously that the tide goes out you see who's not wearing a bathing suit and the tie went down a big way in two thousand and eight and it caught up with warren buffett warren buffett couldn't it couldn't can't keep up with the losses and it was exposed deals goldman sachs was a complete sham that embarrassed the government and embarrassed every american really that he would get this privilege insider deal to help out a bank that committed fraud and should have been these guys lloyd blankfein should be in jail already knows warren buffett holding them up as a moral example is quite sharp was shocking all right we'll turn to have a caller thanks so much for agreeing once again on the cars report that's going to do it by max and that's going to do it for this edition. the kaiser report was maniacs kaiser and stacy herbert i want to thank my guests janet tanach only if you want to send me an e-mail please do so at kaiser reported r.t. t.v.

that are you until next time this is nice guys are saying bye.