and david hallberg from investors and space business daily all join me after the break for tonight's weekly wrong but. let's not forget that we had an apartheid regime. i think. even one well. whatever government says to feel it can feel safe to grab it because their freedom .

you know sometimes you see the story and the scene so you think you understand it and then you glimpse something else and you hear see some of the part of it and realized everything you saw you don't i'm sorry is a big. fat .

are you ready to rumble on the panel for tonight's big picture ramblings i should mire mayor consult with a conservative political consultant contributor to the daily caller and erica nuti democratic strategist here in washington d.c. and even washington correspondent for an investor's business daily welcome to all of you let's get started in a recent issue of rolling stone reporter matt taibbi takes on goldman sachs and argues that it's time to put the corrupt thanking on trial he was only show last night he had this to say about the current climate of wall street all the incentives that existed before two thousand made that led to all of this horrible be a year and all these dramatic consequences that are all still in place and i think the most important thing to remember is that all this stuff happened and nobody got

punished and that was that's the single biggest instead of to all of this happening all over again because i look at back in the last decade we clearly learn that wall street can do far more damage to our nation than any terrorist could ever dream of so why are we throwing trillions of dollars into our war on terror but not one dime to prevent a larger threat of financial collapse. well yeah i mean i think i mean i obviously think that we've spent way too much on wars and been fiscally irresponsible and not enough regulating and enforcing regulation and on wall street you know i think it is interesting to look back and say see the damage that was done by the financial collapse of these banks and then look at what we've spent i mean it even if it wasn't actually just for oil thought that cheap anymore when you're looking at you know trillions of dollars being spent on these or so in terms of what we've gotten out of them with a lot of lives we you know we've lost

a lot of equipment and i just don't know that we've gotten from i guess what i'm going to my question for for david and natasha why do the republicans every single time there's an effort to regulate wall street come forward and say no we're not going to last are able to the last time i checked wall street bankers goldman sachs didn't actually kill anyone they didn't vaporize three thousand people who spent it is a reason they didn't before i see thousand a lot of families that have been destroyed that's all tragedy has been enormous amount of child but it is not. as though you thousand people ten years ago and talk about these are these were not mom and pop investors these were institutional investors rather you know representing companies that represented companies that had their own analysts that also made bad choices so it's these were these were denied that they wouldn't have done if they didn't know anything close choices would not have been possible if the commodity futures modernization act and the grammys vilely x. about in past ninety nine two thousand if we hadn't deregulated those commodity markets and gone from no c.e.o.'s to nine hundred trillion dollars for the c.e.o.'s

given you know in a world where the total g.d.p. of the planet is sixty five trillion dollars by two thousand and eight that wouldn't happen they wouldn't happen without the implicit backing of the the the federal government's implicit back you know this is what i did in the red rain market look at people who really lobbied for this is going to take bigger risks in uniform and moral hazard when they think they can dump their risks on the taxpayers that's exactly what happened here it's a. exactly what happened with us and it was real that's what it is he said we back these guys up their research there's a bigger issue here that there isn't there that there is damage that doesn't mean death and if the bar is that well you know they didn't kill anybody so you know hey they aren't that bad or you know no harm no foul. not saying you are just and you know in general that a lot of people look at this and say well you know that encounter body and you know they were making guesses and they're all doing their best to try to make money and that it's not as not the same thing as trying to you know destroy lives and kill

someone not who is clearly out to kill me i mean something what the let me make money on is going to and if we're going to move along i'll just add my i think these guys should be and it would burn it off because it's but that's this week speaker john boehner or laid out his demands for republicans to support raising the debt ceiling to work. so let me be as clear as i can be. well there are. significant spending cuts and changes in the way we spend the american people's money there will be no increase in the debt limit were there are talking about billions here we should be talking about cuts in true years if we're serious about addressing america's senate minority leader mitch mcconnell i heard the same demand saying that any debt ceiling increase must be tied to big cuts in medicare and medicaid so after economists warn the republican party not to play games with the debt ceiling by republicans playing games with the debt ceiling i mean here you

have been around mcconnell the two republicans and the president and the two had democrats palosi and read all the green we've got to raise the debt ceiling i think just do that on a clean bill. i mean i'd like to see that i mean i've said before that i think that playing games that that feeling is not only dangerous but it's also completely irresponsible and that leadership is about responsibility and debt ceiling is not politically something that particularly popular but most people don't understand really what the consequences are we've never defaulted on our tat never defaulted on a washington exactly i mean our whole financial system is based on this idea that you know our world is our pond and that we won't default here and i think that kind of playing these games of talking about trillions of dollars here will trillions and mean anything to you in it with tax cuts than trillions isn't anything to you or billions when we're talking about you know cuts for taxpayer subsidies going towards well companies they are going to take five million out of n.p.r. i mean really it this is a lot of grandstanding and a lot of wasted time and it's not productive and it's it's completely poor

leadership you know that you have to realize that what ok really i just want to ask you guys kind of a stupid question is the man expert on the panel how good debt ceiling never goes down. well. they're actually arguably isn't a debt ceiling but i'm pretty fine so how can we ever lower our debt we never really know what we did actually in the last year the clinton ministration we have a surprise yeah i mean that's what i was put in. that congress could continue to and not have to worry about to tell you that here we've actually let ourselves bump up against the debt ceiling a couple of times the treasury department has a couple of measures they can make to delay default back in four months well they actually did it by six months back in ninety five ninety six before a budget deal was cut this is not unusual what the republicans are doing it goes totally that if you have a no no hang on this is not unusual with regard to what the republicans are doing trying to negotiate and i frankly i think trying to save our economy save our country long term we've got

a serious serious fiscal crisis coming down the road and if you look if you all you're going to do is raise the debt ceiling without catching something to it it's going to put a cap but also bending which is a real problem we're going to pay our treasuries we're going to pay our bills actually and this is something that's unusual and great there's been ninety three helps to reign and that's when it completely i'm controversial so the fact that they're going to go down to like a last minute here is is. not the problem congress have most often voted to raise the debt ceiling or john boehner and mitch mcconnell and forget no one is a republican in the senate it's going to go in and it's what will be done president obama ignited a debate on immigration this week here's what he had said tuesday in texas. so one way to strengthen the middle class in america is to reform the immigration system so that there is no longer a massive underground economy that exploits a cheap source of labor while the pressing wages preferably else i want incomes for

middle class families to rise again i want prosperity in this country to be widely shared. i want everybody to be able. to reach that american dream and that's why immigration reform is an economic imperative. so will republicans actually jump on board for reform this time or will they cling to their everyone most be deported now montra and keep their favorite wedge issue alive for the two thousand and twelve election and why doesn't anybody mention reagan you know he actually did an amnesty for three million people. by wedge issue you mean that you know boehner is now going to give a speech and not really provide any leadership and try to dump. then yes to this is going to be a wedge issue look what we need is some real leadership on immigration reform you need to do more to secure the border you need something that allows people from other countries to come in and find gainful employment if the last thing you need the real leadership you need is declare we're not going to do an amnesty reagan did

an amnesty in eighty six the all amnesty does is incentivize more illegal behavior more people coming across the river versus illegals and forcing the laws against employers that i think that was the big immigration is a problem at this point of broken system that there are a lot of people who you know are on the pathway and then because of administrative rules have kind of have been put on the outs and we have a lot of twelve million people that are off the books that are just out there and we need to find a way to get them back on the books and you know out into the sunlight in terms of in terms of immigration policy it is incredibly important that it become an emotional and that people go in and actually try to do what i think the saddest thing i thought was that dick lugar has removed his name i believe and i think he's going to make his name from immigration reform republicans have been leaders on this issue in the past and they're kind of about face and running away but it's really tragic because they're ignoring important that this is one of john mccain's he was going over the map was very personal stake in this i'm

a legal immigrant to this country and i got my family did it. come through all the hoops you know did everything right myself in the paperwork absolutely we did it in five years it's so much it's done and it's so hard why is it is not so hard here it is not getting hard. harder if you cross the border illegally it got me makes it harder because we have these rules in place for really good reasons the rules have changed recently there's backlog we don't have necessarily number of people to go through the paperwork but also also the rules are there is not good enough but if we're out of time here. so france announced it's going to ban fracking a method of extracting oil by pumping toxic chemicals underground something that's been proven to contaminate groundwater if you look at this clip from the movie gas ninety. six states have documented over one thousand incidents of groundwater contamination couples that has this when it comes out. i wonder if they can drill whether we like it or not it's

a free for all our water was good before you started. it was a good god it was bad obviously we have a problem here. also around the world japan announced it's going to ditch its goal of using nuclear energy to power fifty percent of the country instead they opt for fifty percent renewables by twenty twenty fischler now it's just you know and germany is ditching nuclear power to the merkel is close you know all over their nuclear power plants by the year twenty twenty and they're already using home rooftop solar panels to produce literally twenty nuclear power plants worth of electricity this year and meanwhile here in the u.s. we still rely on fracking and nuclear power and coal and oil and we have no plans to change is the time to have a national energy policy. we've had many a national energy plan we haven't had a serious we we have loads of national energy bill look i'm talking about energy i ended everyone wants clean safe energy but you have to ask at what cost at the cost

of of technologies that have not proven to be cost efficient light wind like the older. most expensive yes i interact that's why wall street has not been willing to back nuclear for many years now the most cost efficient ones we have are things like petroleum natural great gas and coal and the solar is drops in half every three and a half years for the last over the last decade but i'm not sure about statistical take the right look if solar was such a wonderful way of making more energy is because the energy companies would be all over they've got a few companies are i mean i think the problem is that we don't have the infrastructure we've had a hard time i want to be happy when energy we can't store it and harness it and it will have an infrastructure that supports it i mean if we were spending our money on upgrading our infrastructure and developing the technology more effectively tap into new technologies as opposed to thinking billions into the outdated thing that we know isn't going to sustain us much as whale oil companies getting all of these

subsidies i mean that's energy and money that we are not investing into future technology being pouring subsidies into future technology for the same area that we don't pouring billions into it you need to get tax breaks for managing it still cost prohibitive. why would why would it be cost prohibitive to give a tax break for clean energy over the know in terms of. cost prohibitive the solar panels are still. all theirs and they all expensive they're going to lose their jobs so why is it on the point now we've got something like that is exactly like when the oil industry started off over one hundred years ago no one had to go out and subsidize that i mean we've spent billions in that we billions and in subsidies and tax breaks we have something about it is ok in terms of what about so you're saying that the highway system and the railroads and you know all of that is is is infrastructure that you can. transport whaling trucks and all kinds of different ways now you can't put when our trucks over cities yeah i mean so there we have been supporting it well and it's not about the problem if you can't put wind in a truck with where you're going to come out i mean you've got to lie on the go to

rely on the sun coming out you've got a lot rely on the wind blowing you don't have to rely on you those with petroleum and natural gas or coal you have it runs out ok we've got to wrap this up my take on this is bucky fuller will comment that you know nuclear power is a fine thing and we've got a giant react nuclear reactor ninety three million miles away which is about as close as one should ever be and we should make use of the sun and you know last question quick fire today is friday the thirteenth which makes it a perfect night to talk about scary movies so what soon to be released political horror film has the most potential to make moviegoers jump out of their seats and a capitol hill has eyes the revenge of the patriot act or be texas error babies mass or terror babies massacre louie gohmert prophecy or c nightmare on c. street sex lies and rent for what you like. or you pick up your own. i think it's the blog known as obamacare that is going to stifle the health care

industry stifle our economy result in rationing it had health care so that people in lebanon waiting lists for surgery and. going to get our journey is not going to go out of state thank you doesn't it care of lions and tigers and bears oh my i think that if they take out the law as. this is quickly you've got a great example at the capitol has its hands tied is probably the bigger are moving . i say the real action starts now is the harmony. that changed my answer to that. ok i think i think that we have a consensus mine is psycho the two thousand and twelve g.o.p. ticket you know it's close this time. and it's. thank you thank you all very much for dave excuse me. all for very much for being here with us right appreciate it after the break carol executives are getting some help emptying the wallets of average americans and you'll never guess whose it ating.

let's not forget that we have an apartheid regime right. i think the bombing is feeding on the well. whenever the government says they're here keep you safe get ready because of the your freedom.

you know sometimes you see a story at the scene so you think you understand it and then you blame something else you hear or see some other part of it and realized everything you saw you don't i'm sorry welcome to the big picture.

the oscar goes to. the finance committee yesterday a slew of big oil executives were paraded in front of the senate finance committee and defended why they need tens of billions of dollars in oil subsidies courtesy of you and me the taxpayer let's just say the senators had a hard time understanding why this money was well spent take a look. in the case of exxon mobil that your federal tax rate is substantially is three percent lower than what the average individual federal tax rate is to zap me don't you think you do you think that. your so it city is more important than the financial aid we give to students to go to college could you answer that yes or no that somehow the loss of two billion dollars

a year which means you only make one hundred twenty three dollars one hundred twenty three billion dollars in profits is somehow so proficient somehow not part of shared sacrifice somehow you need to go back at them at the pump to make up for it it's hard to understand it is hard to understand i really based on there you'd think that our lawmakers would get to work cutting off those subsidies immediately when in the truth you're just watching the show a show worthy of an oscar nomination or the lawmakers pretend to express outrage over the behavior of corporate giants in america and these corporate giants play the role with feigned regret some nice sound bites are made for the media public is satisfied with it seems like people are being held accountable but in the end what is really going to come out of this here absolutely nothing why because these particular senators are supposedly kicking butt and take a names behind the scenes they're graciously taking over six million dollars in

campaign contributions from these very same oil executives and this isn't the first time we've seen the show. just last year after the b.p. oil spill our lawmakers put b.p. c.e.o. tony hayward the hot seat and went to work take a look. ninety seven percent of all of those agree just violations that u.s. refineries on your watch were against your company that doesn't sound like a company bet to use your words is committed to safe reliable operations as your number one priority i'm concerned up to corporate culture from b.p. c.e.o. tony hayward don't be chairman and president now b.p. america lamar mckay to chief operating officer doug suttles that there's a willingness to cut costs and take greater risks of time is expired and i just amazed at the stuff the more we mr hayward you're not taking responsibility you're you're you're kicking the can down the road and acting as if you have nothing to do

with this company and nothing to do with the solutions i find that i thought it was possible so getting them out of this talking washing. you know b.p. gives a lot of money to politicians and their campaigns in fact just yesterday republicans in congress passed the oddly named putting the growth back to work act which led to oil companies dive right back into the garbage of the b.p. oil spill had never happened to get right through our budget oily holes in the sea floor all over again oh and republicans added an extra special provision in the bill that says that if there's ever another accident the future then only the fifth circuit court is where the case will be heard. why the fifth circuit court well because the fifth circuit court covers only texas louisiana mississippi all oil producing states and oil bought and paid for politicians from those states over the

years have made sure that the fifth circuit short court is chock full of judges with literally cumulatively millions in oil investments and lots of drinking buddies in the industry pretty handy so another hearing and things actually got worse reminds me of a senate committee hearing last year on the financial meltdown when goldman sachs executives were put up on the sacrificial table and gutted by r.-y. makers take a look. you are the bookie you are the house you have less oversight and less regulation as you all began this wild wild west of tranches waterfalls equity traunch is the residual warehousing as you began all that you have less oversight in a pit boss in las vegas and when you hurt your employees in these emails and look at these deals said god what a shitty. god what a piece of crap. when you hear your own employees or read about those in the

e-mails to the feel anything. i think that's very unfortunate for you. and yet as soon as that hearing wrapped up wall street lobbyists began passing out the box and surprise surprise progress want to work watering down to virtual irrelevance and real financial reforms or regulations and now the republican party is making sure that even those weak rules aren't enforced by defunding all the wall street watchdogs again a day or rage in congress and then nothing changes or things even get worse. but this goes back even further i believe the house energy and commerce committee back in one thousand nine hundred four looking into big tobacco companies and nicotine addiction i would also observe mr morgan is very difficult for me to find you a stable characterizing anything is outrageous after seven apparently intelligent

people have stood here and told the american people two hundred fifty million of which no better cigarettes are not addictive what could be more ridiculous is that offends you that free samples are available at quick trips across this country where children can walk in as they're purchasing candy and grab one they can't do that if you're going to be addicted to your product and if it's your product because addicts people simply can't get rid of literally locks and deprives them of the root of the reason that otherwise would come to the station to make a consumer choice best part of that hearing is that every single one of those executives said under oath that nicotine is not addictive. yes or no do you believe nicotine is not addictive i believe nicotine is not a good time to get these cute young. congressman cigarettes and nicotine clearly do not meet the classic definitions of addiction i don't believe that nicotine or products are addictive. i believe. i believe that because

he's got. to believe. we've known since nine hundred thirty in the early one nine hundred thirty s. at the nicotine is clinically addictive yet not one of these guys went to jail for perjury in fact one of these criminals lou gerstner was even awarded the top job at i.b.m. after he left r g r where he went from killing people with tobacco to ruining american families by offshoring jobs and today there's a backhoe companies are doing just fine thank you very much and their lobbyists are seeing to it that the profits keep rolling in right along with allowing the lung cancer deaths these so called congressional hearings are nothing but a dog and pony show year in and year out it's not what our politicians say it's what they do and frankly they're not doing much unless we reverse some of these crazy supreme court rulings that have allowed corporations to claim personhood to buy off our politicians and the american people will continue to be entertained by

this theater of the absurd once a year and then get screwed over the next year when another oil spill ruins another pristine coastline or another market crash writes out our pensions we need to take back our government and beginning they begin holding corporate crooks accountable only then will we stop and in our promotions for great acting and start handing out subpoenas for high crimes against america. as the big picture first night for more information on the stories we covered visit our websites of thom hartmann dot com and our team entire show is available as a free podcast over the i tunes also check out our youtube page and you tube back on slice now big picture and slash tom hartman and don't forget democracy begins with you get out there get active tag your it will see on monday.

morning news today violence is once again flared up. and these are the images go girl she's been seeing from the streets of canada. showing up for asians to rule the day. the be. wealthy british style sun it's time to.