well i'm sorry but in washington d.c. and here's what's coming up tonight on the big picture after one hundred fifty four years to public and rule democrats in new york's twenty sixth congressional district plame to victory could this be the foreshadowing for the tone of the upcoming twenty twelve election year plus the sneakiness of the g.o.p. never ceases to amaze details about the loophole they've created to steal funds from public schools for private and religious schools and to speculators in the oil industry are caught stealing millions so those are punishment fit the crime.

you need to know this democrat scored a huge political victory last night taking new york's twenty sixth district adding another democratic seat to the house of representatives that seat was previously held by republican chris lee and so he was busted taking topless photos of himself to solicit women on craig's list despite the fact that only three democrats have ever held that seat since eight hundred fifty seven and republicans led by karl rove in the chamber of commerce dumped millions into the race outspending the democrat by somewhere between two to one and four to one democrat kathy hochul still prevails taking forty eight percent of the vote republican jane corwin is forty two percent of the vote there was a third party candidate jack davis but he only took nine percent of the vote the democrats won because they successfully turn this election into

a referendum on the republicans plan to end medicare take a look at this ad that's been running around the nation. as we saw at yesterday's election the american people are putting up with the right wing radical agenda to kill medicare so is paul ryan with the help of the tea

partiers and its millionaire billionaire financier is like the koch brothers killing off the republican party as we know as we know it or talk about this issue is phil current vice president for policy at americans for prosperity phil welcome back my pleasure thomas nice to see a hopeful soul in the fourth democrat to ever hold the city as i mentioned since one thousand. seating hundreds isn't it time for the republican party is for backing away from from paul ryan the way the new gamers tried to do a sunday and a half ago and i think that would be a big mistake to read this race that way the democrat here only won by about forty seven hundred votes the tea party candidate a phony tea party candidate a democrat who was the endorsed democratic party candidate in this district the last two cycles siphoned off over ninety five hundred votes more than twice the margin of victory you say you only got forty seven of them were the eight that you noted i don't think forty seven percent of the message or a mandate for anything i think the nine percent of voted tea party are probably well to the right of paul ryan so if there's any message here it's perhaps that is

fine doesn't move far enough fast enough and i think that there are a lot of other serious weaknesses with coburn as a candidate she was very weak and slow. and those are great just below the belt attacks like the one in the ad that you just showed and frankly i'm not sure this is an indicator of anything except that the republican party of new york has the bad job choosing candidates and does a bad job dispelling fake tea party that's a very interesting take on it president dwight eisenhower in one hundred forty six or nine hundred fifty six read the republican platform explicitly said you know we want we endorse social security medicare didn't come along so well b.j. but you know social programs we endorse labor they bragged in the platform in one hundred fifty six about how two and a half million people were unionized and they wanted to see that grow in our wrote a letter to his brother and her in the one nine hundred fifty four october eighth in which she said should any political party attempt to abolish social security unemployment insurance and eliminate labor laws and farm programs you would not hear their party again in our political history there's

a tiny splinter group of course that believes you can do these things among them or a few texas oil millionaires and an occasional politician or business a number is negligible and they are stupid now that was nine hundred fifty four that negligible number has become the entire republican party aren't even i said this at all right on rival ties medicare think killing the republican well let's be clear on what's going on in medicare right now because the democrats voted to absolutely destroy medicare as we know it when they forced through the patient protection and affordable care act and we now have the independent payment advisory board which is the panel of bureaucrats who are empowered to ration health care in this country that's the democratic answer on medicare let your crafts the stock we've got a resource shortage we don't have enough money to pay for lifting absolute nonsense what's killing medicare is the fact that it is really republicans came in and said can i do not remember going to i pad that we're going to put a gel i get a program here in lodi we're now in the government to put it i'm negotiating under phil to tell you this is rational is there any what is conservative about saying to the government you have to pay retail you can buy wholesale for the v.a.

you can hot buy wholesale for tri care but when it comes to medicare you got to pay rates and that is why the. even though the deal the white house made with formal get one hundred million dollars off to jabiru their bill that created the i don't know house and then guess job he had absolutely totally cool his heels at the white house cut the democrats cut it was a democratic deal democrats killed the amendment when dorgan brought it up because listen it was in no one can know all the democrats all the democratic men when they had to because they had a corrupt deal with pharma to supply all the lobbying lots of get that bill through you know what a nice bum i don't know of the right office in you all the background you need all out including the us already a whole world right on reimported look at the saudis just the back it up for a second the independent payment advisory board which is now the law of the land banks to democrats on a partisan bill can deny coverage for medicare it will ration care based on cost and political determination that you don't tell me the cause of the individual surance company that does not have ended their choice are you trying to tell me that any of the insurance companies need arises have you ever heard the word rescission i have no. doubt that would have happened here i'm going to

a have it we're talking about private insurance company we're talking about menno we're talking about what about a lie and saying i'm going to give you seven thousand dollars and you can go out to the private market buy insurance or you can go to united health care was steven j. holmes that has taken six hundred million dollars sation and every penny of it was from saying to somebody no you can't have a liver transplant you know you can't have a terribly is no you can't have their chance please we've got limited resources for medicare paul ryan's plan for the fairest most equitable way to do this is to give people choice to control those dollars then on saturday president obama that's the democrats and president obama say and i don't like that people who are south at the independent payment advisory board can ration care who are going to say to the government of medicaid i need to repeal i grab in order to restore and save medicare and that's what the ryan plan does it puts it on a sound footing makes it sustainable saves medicare which is going to be destroyed by obamacare is rationing policies in the ok the choice with regard to medicare since it's a government run program is to vote the bums out of office and it sure looks to me

like that's what's going to be happening well i think it's tragic that we're i don't know it was a budget so we don't know what they believe and they just want to talk about it. thank you very much for dropping by everybody yesterday's election chairman of the democratic congressional campaign committee steve israel said today the republican plan to end medicare across republicans three point four million and a seat in congress and this is only the first c. in my opinion he's right if the democrats can stay on message and this is this is a pretty fascinating thing paul ryan is one of the first of this new breed as as he would fight or as has been defined they were born and bred of the lewis palmetto the one nine hundred seventy four memo or lose paul wrote this to his best friend next door neighbor the head of the chamber of commerce saying it's time for us to take over the schools it's time for us to unfiltered judiciary sound first and take over the media and they did it with money from the koch brothers from joe couper's from and with the philosophy and rant and he actually believes this stuff. paul ryan and frankly i think it's killing the republican party i you know i get it the

film loves it but i you know i think it's killed and are they going to figure here's the question if i going to talk about this hard to take the night are the republicans going to figure out a way to sell this to the average person beyond here here here and here graham here's seven thousand bucks good look behind health insurance after your second heart bypass operation i don't think they're going to there wasn't a word for example there one of the early indicators for me is drudge drudge is you know the drudge report right wing news aggregating website the biggest in the in begin to country maybe in the world not one word about the republican loss in new york twenty six and now one we're you know rationalization no excuses not one word republicans i think are running scared they don't want the oil barons the koch's or the billionaires the koch's to sacrifice their party. actually they want to sacrifice people on medicare. and they're not going to stop the part of the

requirement to pay full retail prices for drugs that's a two hundred eighty billion dollars subsidy for the farm of group road billy tauzin that with the house manager of the four house measure pushed this thing through the republican retired early from congress who could take a two million dollar job farm and it was a poison pill and ryan thought he could use it to kill a program but it's not working eisenhower was right their numbers are small and they are still. it's time for our daily poll your chance to tell us what you think here's the question does victory for a democrat for the democrat the new york twenty sixth raise show that paul ryan is shutting down any wins for republicans in two thousand and twelve your choices are yes the democrats successfully show this was a referendum on the republicans plans to end medicare or no one despite the fact that only three democrats have ever held the seat since eight hundred fifty seven

so far over eighty percent of voted yes log on to tom let us know what you think the poll be open until tomorrow morning. just. dying for the good the bad and the insanely oddly the good democratic congressman john yarmuth representative from kentucky came to the defense of middle class advocate elizabeth warren yesterday during a house hearing war on who isn't afraid to take on the banks doors could be the nominee to head up the new consumer financial protection bureau it scares the hell out of republicans that's why a hearing was called yesterday so that republicans could slander her name and call or a liar which they did then it was john yarmuth chance to speak and he said this. as to the witness we're in for. and disrespectful behavior of the chair.

the snarky comments about a senate race and the questioning of your veracity when there is documented evidence that you were being totally truthful indicates to me that this hearing is all about impugning you because people are afraid of you and your ability to communicate in very clear terms the threats to our consumers the threats to our constituents. and possibly. very very effective ways to combat. congressman yarmouth is right let's hope president obama's listening and appoints elizabeth warren a.s.a.p. to put the banks' toure's in their place the bad republican congressman robert hole yesterday house leader eric cantor majority leader eric cantor said that any disaster relief for the tornado victims in joplin missouri must come from cuts other programs in the government that's bad enough but today the rock republican congressman put panther's words into legislation proposing an amendment that allocates a billion dollars in aid for term for tornadoes victims by cutting one and

a half billion of a clean cars program that's right we're cutting from programs that help to curse. global warming to pay for relief efforts of disasters caused by global warming you can't even make this stuff up and the very very ugly republican congressman paul goes at a recent town meeting those are a multimillionaire told his arizona constituents that raising taxes on the wealthy is a bad idea and he used himself as an example take a look at. the i. would . just like the rest of the it's a little. it was just like the rest of his constituents who have an average income of around thirty two thousand dollars a year. republicans are once again arguing the millionaires are the middle class no

matter what you know no wonder they think that the middle class is doing just fine and that's a very good. coming out class is almost out of session as well as money details and why republicans are aimed at depleting funds from our nation's public schools. let's not forget that we had an apartheid regime right. i think. either one well.

we have the government says they're keeping safe get ready because their freedom. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else here sees some other part of it and realized everything you thought you knew you don't know i'm sorry welcome to the big picture.

wall street regulators are finally holding oil speculators accountable for their role in the two thousand and eight surge in oil and gas prices to speculators james dyer nicholas wild goose who are facing charges by the commodity futures trading commission for manipulating the oil market and jacking up prices for the rest of us he has made off with about fifty million bucks things to their scheme and now the see if you see is considering a one hundred fifty million dollars by one of the largest finds in the history of the c. of g c but is a fine really appropriate punishment i mean if you robbed

a seven eleven to ruin the lives of its employees and made off with fifty bucks. the police would settle the matter for you with the hundred fifty dollars fine. frankly i think he should be in jail but there's a bigger picture here when it comes to speculation and the republican party's crusade to deregulate wall street and in the process leave our economy our entire economy up to the whims of corrupt bankers let me lay it out how it works there's this thing called futures markets futures markets in the commodities markets the futures markets were originally set up i mean they could they go back to the nineteenth century arguably go back before that but in modern times in chicago they started trading futures late one thousand through the twentieth centuries in a big way and it was a way that a farmer could say you know what i'll sell a certain part of my crop before i even put in the ground at a certain price betting that the weather is going to be good or bad my you know but knowing that they would at least get that price and so that's why you have futures

and we work bellies and all these kind of things you know these days food commodities and then as the oil business grew the airlines you know they're big players in the commodities market to balance the price so they you know they'll buy oil a year in advance regardless what the prices they'll buy it a year in advance so that they can predict what their expenses are going to be and they can fix ticket prices and set their expenses so they can make some money. once upon a time you know for a like most of the history the united states at least since the one nine hundred thirty s. when these rules and regulations were put into place all of this was done on exchanges mostly out of chicago chicago's commodity exchange that were regulated and all the trades were transparent you could see the traders where you could see what they were buying and typically they if they ended up owning a commodity when the when the future came due they had to take delivery of it so really the only people who are playing the game are the people who are actually

going to buy the wheat bakeries or the people who are actually going to use the oil but you hear lines but then came along phil gramm and his wife when he worked for enron and or was on the board of enron and then the so-called enron loophole the commodity futures modernization act was passed in the ninety nine or two thousand and it changed a lot of the rules of the game and so what happened is these speculators came in in the case of these guys that just got busted today and this is really interesting because it is the top story on the financial times financial times of course you know the world's leading newspaper where the rich guys talk to rich guys and girls and women whatever charges you have to see and what they did what these two guys did and basically the reason why they may go to jail or get a fine around hundred fifty million dollars fine and other stuff they didn't do a very elegantly they didn't have like a giant goldman sachs and where they could do it in two different divisions and so on and what they did is they went in and well let me tell you read it from the financial times in march they brought six point three million barrels equal to

eighty four percent of oil available for delivery against april contracts the buying created the impression of a shortage and pushed up the price of the futures of the oil futures on the new york mercantile exchange so they went in and they said ok we're going to take eighty four percent of all of this oil and we're going to commit to actually take delivery up even though they had no intention of because they were just speculators they weren't airlines so the airlines and the big trucking companies want out there looking at the little bit of loyalty left over going holy cow there's an oil shortage we'll pay more and the price of oil starts spiking. once the price of oil is really up there these guys been say it you know. well before they dump it on the market they say first let's place a bet that the market's going to crash they place this huge bet that the market is going to crash it's called selling short then they jumped the oil into the market at the peak so they sold it all performed more than they paid for it and then with all this extra oil in the market the airlines are going hey you know we don't need to pay high prices for futures anymore the oil market crashed and so they they're

better paid off they do a lot of this is how they made fifty million bucks and in fact as the french times says after cashing in the profits from the future positions the c.f.c. see alleges the traders open bearish bets or short positions that would profit from a drop drop in prices they then allegedly surprise the market by dumping their physical oil driving on prices making further bets on the very future futures markets now and here's where it gets interesting there is this whole movement in the united states utah for example just may gold an official currency. we're going to go all our large little fort knox here and there is you know this whole ron paul rand paul right wing hard right hard money. bunch whatever true believers who think that the dollar should be based on gold you know for a while it was and it sort of worked out but it didn't it and frankly it didn't stop the debasement of the dollar look at the value the dollar from for example one hundred thirteen to nine hundred seventy one and still fell apart but what would

happen if the dollar was really solidly back then gold is if these speculators came in and said you know let's buy a bunch of this gold here or china or india put a bunch of gold in drove the price which is what's happening right now then the dollar then the price of gold goes up and the value of the dollar or the price of the dollar goes up which means that it's harder for our exports to export products if there of selling into the market the price of gold goes down suddenly value the dollar goes down we all get poorer and and this literally could happen from day to day i mean it would be insane disaster. so i just wanted to understand these two things and how they work and you know it. it's frankly time for us to roll back the enron loophole to take phil graham's legislation the commodity futures modernization act and graham which totally which which i blew up the glass steagall act which broke up the you know kept the investment banks from real banking

business and throw them up let's let's just undo these things there was actually legislation that that answer close to get through the house to undo these things at the republican stop in the senate in the last legislative session it's not going to come out of the house that's not because of a crazy republicans it's time to throw the money changers out of the temple of commerce. and our public education system is under siege by republicans all around the country republican governors are pillaging their state's education budgets siphoning off hundreds of millions of dollars from public education and moving them money this is where it gets really interesting moving that money into private or charter school voucher programs that includes religious schools. there is a giant wall that prevents government money from funny religious schools but

republicans have figured out a way to tunnel underneath that wall and fund them anyway through voucher programs is going down in wisconsin where governor scott walker's slashing nine hundred million dollars out of his education budget and adding seven hundred fifty million dollars to the school voucher program and also a new jersey governor chris christie cut two hundred or eight hundred twenty million dollars out of his education budget last year then created an eight hundred twenty five million dollars school voucher program last year and that's just to name a few here to explain how the scam works and what it means for the future of public education in america is the giuliani reporter and blogger extraordinary at think progress welcome back thanks for having me what does how does this work exactly federal funds going to fund religious schools you know what happened to thomas jefferson's wall of separation well that's exactly where this go about your movement came from a one point american history of the twentieth century a lot of religious conservative americans said that you know we want tax dollars going to religious schools we want our kids in christian schools for example but

you know there's this thing called the constitution standing in the way so what they did is they design about your scheme which is basically you get a bundle of taxpayer money and then you can take that to any school you want in the schools compete on the theory that schools are supposed to get better from this which is why the free marketeers in the libertarian jump into the ballot here seems so have you know i mean they've been doing this for at least twenty years you know and in various cities and states and experiments and there's one even here in d.c. have any of these demonstrated that schools actually get better as a result of programs well here's the funny thing is that it seems like the free market actually failed in this circumstance to see is that it's not the appropriate way to improve public education the longest running about your scheme is that milwaukee and wisconsin and it's been running since one thousand nine hundred eight that states thirty and the university of arkansas studied it this state study found that students who are in the private schools are receiving vouchers actually got worse results on stated i thought than math and reading and the university of arkansas comprehensive study found that they got about the same. so basically you know we're funneling money to private schools many of them religious schools making

a buck off the investor you know the but the investors are making a buck off the people who are going to schools are all of us that are taxpayers and yet we are actually getting better results for it. and it also seems that it would basically ghettoized public education that the kids who keep the private for profit schools or the private religious schools they you know we don't want these kids we can't handle them public schools don't have a choice they've got to take every child who presents itself because education is a right you know it's or at least it's regarded as such by every state so you know not a good thing how widespread is this and how are these republicans justified well this is the thing voucher programs actually came out to vote democratically and states and cities across the country between one hundred sixty six and two thousand and twenty five times they failed to talk about ballot. yes exactly and all the way to the public and they actually had these referendums fail twenty four out of twenty five times so they're actually pretty unpopular with the public at large

what they're doing basically here is that going to the public they're going to legislators and legislators are being funded by big groups like the walton foundation the wal-mart family the broadcom nation which is from the billionaire broad family i mean we have a lot of really right wing foundations right wing think tanks big groups like the american federation for children which is funded by the family which is another billionaire family that they're the heirs of amway and actually they are actually the brother in law erik prince of blackwater fame so i mean if you want to talk about basically run the republican machine in the state of michigan i know they were up in michigan you know exactly and these people are pouring millions and millions of dollars into getting these vouchers schemes passed in wisconsin they actually had the seventh largest pac to nations of any and the entire state where the voucher folks and a lot of people didn't see this coming they elected you know they elected up to a dozen people and these people got in and they're starting to try to expand the milwaukee program which already doesn't work which is enriching a lot of private school. so basically this is just i mean there's an ideology here

which has been demonstrated not to work and there's a bunch of hustlers for you know for profit companies that are making that and they're basically getting our tax dollars and making a profit on it and there's a bunch of religious groups that have their own obvious agenda who are also now getting our tax dollars. it seems like the only people winning are the hustlers and the ideologues. you know. i you know i know that there was a new york times story about the bill and melinda gates foundation hate supporting this kind of stuff it looks like you think americans are going to wake up and say hey wait a minute what happened to public education and what i think was right now what's been happening it's been itself at the back of a stealth attack on the public education system that saying teachers are no good way to fight the teachers unions publication that public education is the that we need these private schools many charter schools and that saying that teachers are against reform or not for reforms i think basically what's happening right now is people are saying to wake up they're starting to see that you know bill gates and the walton family should be running our education system and we value our public

schools we want to lift them up and we don't want to use untested and i merited you know reform methods that basically let leads capitalism in our schools where really they don't have a place that capitalism is great for what it's a restaurants or toys there are clothes it isn't good for public schools it isn't good to have schools competing with each other and closing them down and busing kids halfway across the city to a charter school education is part of our common and the commons the whole point of creating government was to administer the commons well said thank you so much for being with us thank you pray to and keep up the great work of the great research in a very large since reagan republicans have been trying to kneecap public education in america just so corporate c.e.o.'s and churches can turn education into a big business thomas jefferson devoted his life to free public education available to everyone in america rich or poor but today republicans are turning their back on our most influential. after the break conservatives daniel helper and jamie weinstein join me for our lonely liberal rumble.