if. the. welcome to the lower show going to get the real headlines with none of the mercy or if we live in washington d.c. now it's not really discuss the death penalty in america what does the makes our country stand out from the rest of the western world by still carrying out capital punishment and stocks are falling nerves are rattled and movies just downgraded three major u.s. banks so what does all that mean for the global economy and google got a grip hold on capitol hill this week with lawmakers asking if it searches are biased and it's an industry bully but there's a group out there called consumer watchdog says that its privacy violations are the bigger problem so to speak to

a member of that group we'll have all of that and more including details of happy hour but first take a look at the mainstream media has decided to miss. last night at eleven o eight pm eastern time troy davis was executed by the execution it originally been scheduled for seven pm but the supreme court renewed hopes for davis' supporters that it just might not go through with the last minute they delayed the process until they could deliberate whether or not to accept a request to stay the execution at around ten twenty pm a supreme court announce of application for a stay had been denied and there was not a single dissenting vote if you watch our show you know that we've been covering the story for some time but the mainstream media they only picked up on it recently after protesters began gathering in georgia thousands of petitions were sent to the georgia board of pardons and paroles and after world leaders people like the pope and president jimmy carter joined in opposition to davis's execution nonetheless by

last night this would become the biggest story in the country and the media did give it wall to wall coverage with of course the exception of fox news i'm expected breaking news this evening as there continues to be no decision from the united states supreme court on a pending and very controversial execution he was set to star by lethal injection three hours eighteen minutes ago seven pm eastern time that is on hold for the execution of troy davis is really the. warrior's is reporting that the supreme court has denied a stay of execution is just in the supreme court has just rejected the stay of execution for troy davis very good news for davis has been executed his good karma execution was eleven away. and now i'm happy that this case got the attention that did that finally made the mainstream media raise the questions that they did the fact that a man whose guilt could not be proven beyond a reasonable doubt he was executed but the most insane final power that

a government holds that's scary that should be discussed but the problem here is the troy davis here isn't alone his story isn't a one off story that this never been seen before that is the mainstream media pick and choose what cases they want to get behind now meantime also i applaud them for realizing that this story was big it was a horrific example of what's wrong with our justice system i wish they would do it more often i wish but the investigative reporters who devote their time to exposing corrupt prosecutors corrupt cops discredited medical examiners i wish of those people got more air time on those cable networks i wish the fact that we have the largest known incarceration system in the world that every been registered on a normal day for those staunch progressives or liberals who now seem to care so much you know our justice system is immensely fly we lock people up we throw away the key for nonviolent offenses we create a second class of citizens they're either forever locked up behind bars or forever disenfranchised unable to get jobs or reenter society and we have countless people

in this country who have been victims of unfair trials of racism of corruption people they just might be innocent and they're profiteers that are building private prisons lobbying for tougher legislation also that they can fill those prison cells and in the meantime fill their wallets and well nothing is more finite and state sanctioned death i should worry all of us the whole system here is flawed now i hope that after troy davis is. we're going to see this become part of the public discussion we're going to see attitudes shift we're going to see the media's focus shipped to uncovering this and sees the injustices uncovering all the time but i'm just afraid they're going to move on and in the long run they're going to continue to miss. now fears about another global financial meltdown continue to grow stocks plummeted

today with the dow industrial average at one point falling as much as five hundred twenty seven points you can said it's a combination of reactions to the federal reserve's announcement of operation twist yesterday the prospects of another government shutdown here in the u.s. and moody's downgraded the credit rating of three major u.s. banks today those of the bank of america citigroup and wells fargo but the real pain is over in europe standard and poor's downgraded the ratings of seven italian banks and headlines are running wild about french banks looking for cash in the middle east although he and the c.e.o. deny those claims so what's the world to do well this week finance ministers from the brics nations are meeting here in washington at the i.m.f. but how much could they really do join me to discuss it as economist economic analyst excuse me. and i want to thank you so much for joining us tonight and you know at this point has it become really obvious that europe doesn't just have a greece problem they don't just have a spade or in italy problem that the entire banking system there has been infected

. you're absolutely right and thank you for having me on and i'll excuse my just operate on. the problem we had today with the whole of the markets collapsing basically commodities but isn't the only thing that was doing ok we're very balanced basically we have an entire system that is incredibly fragile it thinking about it it was yesterday's announcement of what people are calling trust in the new federal reserve policy of purchasing four hundred billion dollars worth of thirty year treasury problems and financing that with the sale of four hundred billion dollars worth of short term treasury notes that that is what triggered the thought all of yesterday in asia and today in the european and american markets and the fact that matter is that the french banking system the american banking system they're all incredibly fragile because of the european sovereign debt crisis now you have this announcement yesterday which i think that most people would agree your problem the news was not that big of a deal that the fed was certainly no match for the for instance few to back in

november of last year and what we have had is the entire system is crumbling it feels unbelievably fragile. that we had in two thousand and eight were kicked down the road and we still have the same problems today and we're trying to fix them have passively on an ad hoc basis you know oh the central banks here and they're doing some random things to prop up their a particular financial sector like the swiss uniques a couple weeks ago and then the bank of england follow on p.c.p. and now the federal reserve everybody's basically realize that the entire financial system is standing on but it's not an issue becomes not when will all these dominoes thought but rather which is going to be the first domino to fall that will trigger this collapse of the entire system i mean i'm unfortunately very very bearish about the current situation that we're not into the crisis we are about to experience is going to be worse than the one in two thousand eight hundred happen.

prospect of breaks stepping in and trying to do something of course brazil first through this out there last week now they're going to be meeting here in washington this week of the i.m.f. meetings and you know there is talk of them purchasing sovereign debt from european nations they have maybe four point three trillion dollars in cash on hand that's what some people are estimating but is that a good idea could they even really care at this point but earth personally i don't believe in the easter bunny. it's a nice look and see the sort of softness that is still russia and china and the notion that they have enough cash on hand up if you throw the west a lifeline but the problem is even if that were possible which is far from true i mean it's it's probably nigel each of the strategy with the noises russia and china have been making recently even if that were the case they were only vehicles phoning the inevitable it was what we have is a financial system in the western europe north america that is insolvent we have

a central banker to central banks that have been essentially kicking the can down the road we have to purge these imbalances and this of course is painful so if we go into more debt in order to straighten out our situation and buys ourselves some more time we're simply going to be kicking the can down the road and of course when you kick the can down the road that can become speaker so it would be nice to dream that the perks are going to come and save us sort of like you know rambo in the third movie or whatever but i don't honestly think it's going to have the. well now if we go to movies which downgraded the credit ratings of three u.s. banks today i think they're dreaming a bit of another three because essentially what they're doing there is they decide to ground downgrade their credit rating because they think that a second time around the u.s. government probably wouldn't step in and bail them out if need be but i don't know i'm a little skeptical sure you could say the political climate has changed a little bit now especially with the tea party in congress you could say the

popular opinion has changed but then again we see warren buffett investing five billion dollars of his own money in b. of a which you could say so looks like a little mini bailout in its own i'm not really convinced that we wouldn't see more bailouts here in the u.s. how about you. i agree with you i think that more bailouts are probably in the offing for a simple political reality yet states government cannot allow all these big institutions to go down the tubes they've already invested too much they have truly become too big to fail but the problem is that the government for political reasons doesn't want to do the right thing which is basically nationalize the banks purge them of their toxic assets reform them we regularly we implement trust people and get them we're only media and that's what smaller weaker economies for instance of iceland that's ok did in two thousand and eight they just went ahead and nationalize the banks and wiped out the equity holders and started fresh like you're supposed to at the end of the day that's what bankers bankruptcy laws are

for when you have a bankrupt institution in a small mom and pop grocery store or wherever gigantic super bank like citibank from sins if they go insolvent if they go bankrupt that's what the laws are there for some equity holders for all of the holders to take their pets to reorganize the company so that you cause as little pain as possible to the society as a whole the problem of course is that when two thousand happened and all these banks were insolvent rather than do what was necessary which is what the icelanders deterrence which is the banks and private equity holders the american and european bureaucrats cited tippecanoe down the road and they're in these banks too big to fail and bailed them out to you know hundreds of billions of dollars and we know how that story ran and it was very unfortunate story and very unpopular but the problem now is that those banks are far larger of the world in two thousand and eight so it's going to be a bigger bailout more expensive and more painful and the political reality is that

there is no political will to let the free market do its job of creative destruction and wipe out the stumps so we're going to have bailouts its ascent was not i think it a authentic after taking over how the fact that there are a lot of people who are struggling right now. initial financial crash and you have more than forty six million people in america living in poverty and so the prospects of trying to go through this let's just start over bottom out that's really scary because a lot of people are going to suffer and very very much so in a tough way i just have one quick question for you too so we've seen with the stock markets just plummeting today at the same time of course the dollar's doing ok u.s. treasuries still doing ok well gold fell when you make that. op that's a good question and i took it personally on unbolt today and i'm kind of curious about it myself but i was much more concerned about copper copper has been following thirty percent in the last three four weeks i paid well from its high of for twenty or better and now it's three and half watts per pound now up the issue

is ok mostly people say that only copper has ph d. in economics and i think this is very troubled worrisome because it basically means that the markets have decided that there is not going to be a reactivation an economy and that the world's economy that is i mean just global on a global level is not going to react to make in the short to medium term but it is the next. months and so you're seeing that in the price of commodities in the us with money in particular which are falling and falling rather drastic and that is particularly worrisome and how they should both reports this fall into that people even with seventy five posts a day i think that that is perhaps a generalized you know a flight to safe haven because remember the gold market is it's sitting in the smaller when you compare it to the treasury market or of the european sovereign debt market so if there is a fight to safety it is inevitable that paul will take a hit if it is a strictly financial player moving out of equities and into treasury because

a lot of people of course positions in recovery that if there are oppositions in equities and treasuries but having said that i think that any quote back that we see now that we have seen today but go a little reaching seventy three properties of uncertainty and it will cover in short term but i think that what we should really be paying attention to and surprise from are is are concerned he's copper and it is it's continuing throttle i think that's what i worry some because it points to the markets have collectively meet reached the conclusion that there is not going to be a reactivation of the industrial sectors in the near to medium future our own actually to keep an eye on that can topic for much for joining us tonight. oh it's a pleasure thank you for having me. now earlier this week president obama announced his deficit plan which included a new tax on millionaires something dubbed the buffett rule. this is the land of opportunity that's great all i'm saying is that those who have done well

including me should pay our fair share in taxes to contribute to the nation that made our success possible either we asked the wealthiest americans to pay their fair share in taxes we're going to have to ask seniors to pay more for medicare we can't afford to do both. so the g.o.p. they quickly rallied the troops to fight the evil plan after all it encourages the rich to pay more taxes forget about whole concept of paying your fair share they think that is just preposterous so leading the charge and accusing the president of waging class warfare it's house speaker john boehner along but many of his other generals. i don't think were to spread class warfare it's leadership because it looks like the president wants to move down the class warfare path class warfare will simply divide this country more or attack the job creators divide people and it doesn't grow the economy and when you pick one area of the economy and say we're

going to tax those people because most people are not those people that's class warfare. class warfare oh yeah there's definitely a class war going on i guess what noble g.o.p. warriors if not the rich that are on the losing side i mean offer up an example here for you so forbes just released their list of the four hundred richest people in america today what's really interesting about this list is how it's grown and not in the number of richest people but in their net worth is even total wealth for all these billionaires and millionaires has actually gone up by twelve percent this past year so this group's combined worth is now one point five three trillion dollars and you can see a lot of similar faces within the group including bill gates warren buffett george soros and of course the koch brothers bill gates' net worth grew by five billion dollars his earnings are estimated to be around fifty nine billion george soros added seven point eight billion to his piggy bank this year and he's now worth twenty two billion dollars facebook c.e.o. mark zuckerberg has added over ten billion to his fortune in the past year making

him worth about seventeen point five billion and in fact the only person in the top twenty of this forbes list who lost money is warren buffett and despite losing six billion dollars he still comes in second place on the net worth of thirty nine billion dollars so just one person out of the top twenty lost any money in the last year maybe buffett's losing is fought maybe five billion dollars to be invested in failing b. of a might have something to do with it now of course that didn't happen yet but once again maybe he's losing his touch anyway here yes these men are the richest in the country but they're not just your average joes they might be living on another planet they're going to continue having their wealth continue to grow at this time and that's kind of crazy if you compare their growth to the american people as a whole secret is that household wealth declined from two thousand and seven to two thousand and nine by twenty three percent of the census the american people's real median income declined in two thousand and ten by two point three percent that all the wealth of the world the top four hundred wealthiest americans twelve percent so

when the g.o.p. says that there's a class war going on you know there right there is a war on and the rich are the ones that are winning. after the break of the return of the case of troy davis and a gruesome death and a figure in the united states but ask what popular support of executions really says that our country as a whole. means that only a military mechanisms to do the work of how to bring justice or accountability. i have every right to know what my government really want to know why i pay taxes. but i would characterize obama as a charismatic version of american exceptionalism. you know sometimes you see a story and it seems so for like sleep you think you understand it and then you

glimpse something else you hear or see some other part of it and realized everything is ok if you don't i'm trying hard look at the big picture. let's not forget that we had an apartheid regime right. i think the. one well. we have the government says libya keep him safe get ready because you're going to your freedom.

fuck fuck fuck. fuck. announcer termed the case of troy davis we've seen many staunch supporters of the death penalty say that in this particular case they're opposed because of the technicalities and we also saw some very disturbing examples of blood let's take for example and coulter's tweet yesterday that said one troy davis flame broiled i want everybody may not be as overtly twisted and disgusting as coulter is she does

speak to a certain mentality overall to one and it's been so for decades americans fundamentally believe an eye for an eye mentality they believe in justice being carried out through the means of capital punishment so we have to ask where that comes from why in this particular case we see our values align more with countries like iran and china than our western european allies where the death penalty has long been abolished and the e.u. foreign policy chief responded to the news of davis's death yesterday by saying that the e.u. opposes the use of capital punishment in all circumstances and by calling for a universal moratorium so what america ever signed on to something like that might davis finally change our society or has this notion of seeing justice carried out that way through in great well joining me to discuss it as james below supposed to the bottom line and reform school on page eighty the game going to thank you for joining us tonight and i guess first if we can just start with where you fall in this entire discussion from what i understand you support the death penalty but in the particular case of troy davis you were against it. well i think yours or

looking at this oftentimes gets swept under the rug when we're dealing with the earth and here humans because it is a contentious issue there's a lot at stake and of course the downside is if you execute innocent people and i think there are two claims at work the first claim is there are some crimes that are so heinous that the only commensurate penalty is for the criminal to lose their life so the question then becomes you know well and who's going to do the taking avoid if that's one of things get they see when the government has to do it it opens up a series of problems that we can get into later but the second claim that gets made is that justice really can't be done unless said criminal is tried and convicted based on eyewitness testimony and judged by a jury of his peers not scientists not the lab not d.n.a. evidence that also puts the burden on us as citizens to do a certain job and to do it well i think that's an important one for us to carry but once again when it comes to actually applying that standard we can get into some

real trouble as as we've seen in the past with not only with you know sort of retroactive d.n.a. it is that's gone people off innocent people but with people who do get sent to death row and executed where there are some significant questions as to whether or not they're guilty or innocent i mean i want to go back to your first point there he said some crimes out there are just so heinous that you feel like the only way you know to go back with it is to also take that person's life the person that committed the crime but who decides what crimes are so heinous and you know not everybody thinks that way which is why i'm trying to figure out what is exactly or specifically you know about this is sighing here in america from paris selves to hear of where the death penalty is abolished where they think this is just some vibe eric archaic way of carrying out justice what makes us stand out why do we still think that this is the right way to go about it. well you know i think we're less afraid of death as a ruler than europeans i can exaggerate in that way but you know i think it's a mistake to say that we're an eye for an eye society you know this isn't

a society where if someone chops someone's arm off we think that there are and should definitely be charged in the comparison to countries like iran or like china where you know you can be thrown in jail for practicing the religion of your choice or you where you can be hong executed publicly for being gay that it doesn't compare at all to the way capital punishment worse in the united states you can agree with capital punishment you can disagree with it you can you can say that until it's given the facts and given the possibility for abuse that we should really go down or even ban it but you don't need to go down the road of accusing america of being an eye for an eye country or of having the same kind of view of death and punishment as you get in countries like iran or in china to make the case it's not accusation i think that it's a valid question that if we ask that right i mean these are our policies and we give the government is also a sign for saying here is because there are so many americans that have this mindset that limited government is the best kind of government i believe that you are one of those people yourself what to give the government the power that to me

is just the most insane awesome out of power that they're allowed to decide and to take a citizens life that's crazy. well you know here's my concern is is when you hand over that amount of power here's what you're doing you're creating a possibility which in practice can lead to some serious abuses and it has been well documented we see this across the board when it comes to evidence that comes from snitches who are in prison when it comes to actually gathering what hair samples and introducing here samples and that sort of thing is evidence in the courtroom when it comes to the sort of representation defendants who are facing the possibility to execution really actually get in practice and you know just to set aside not even touched or questions of sort of institutional discrimination an incident late and by sea's injuries and that sort of thing even without going there which is itself a politicized leaving people who are just when you look at the way. the criminal justice system works or doesn't work and especially the impact say the war on drugs hands on these proceedings the pressure that's on prosecutors to you know deliver

a certain kind of record that will give them that will get reelected or remove them higher up the political future and there are such profound problems with capital punishment in the way that it's really practiced with it really goes down but i think even people who are who are not against the idea of capital punishment serious have to seriously take a look at what's going on in the way this is new implemented in qana question whether or not we need fundamental reforms including reforms learn drugs before we can even get to a place where we're comfortable raising ourselves to the standards that are really . fear and procedurally adequate approach to capital punishment i totally agree with you there you know in the sense that there are a lot of problems in this justice system and things that need to be addressed and i hope because this case got so much attention and i think that it's a it's unfortunate there are incarceration system in our justice system don't get this kind of attention from the media every single day but at least the case of troy davis has somehow elevated that and you know i hope that somehow from this

point on things might change but if we go back to the fact that we already granted this type of power to our justice system when we look you think that there are some type of religious undertones here you know a lot of people would say that's very christian because they can find certain passages in the bible that will say that it's ok to kill an result of a crime as a form of justice or do you look back at the eighty's early ninety's when there was a lot of crime in this country and that became really an emotional response a tough on crime attitude. well you know the biblical evidence if you will is is you can find what you want to find i don't think that the bible is final one way or the other only shoot and even if it was that wouldn't you know it when solve the problem for us as as surplus whole numbers of political society unless the bible tells us what to do in every instance you know it doesn't so so i would set this sort of crude way what role does christianity play here i would set that aside i would say that it doesn't gain again purchase for us on how to resolve the question

and you know it's not just the people who are up for execution who we have to worry about here frankly it's people who get thrown away in prison for their lives you know without believe for all people who are you know on the losing end of a three strikes you're out law you know the problems with a criminal justice system then i think rather often we have a punishment issue and different bases and it's not just the guys who are getting executed that we need to. bear in mind as we reconsider what's right what's wrong with criminal justice system. absolutely there are a lot of things to be reconsidered you know unfortunately it sometimes takes a really emotional case like this to get a lot of the public's attention and the like i said again hopefully after this something will actually change james thanks so much for joining us tonight if you. still to come tonight we have our thursday edition of show and tell and later nouvel is in the hot seat here in washington the second day facing questions over antitrust issues that consumer group says a hearing from a focus on the practices of storing your personal information instead of throwing

a look into that topic and just in all. into it all we're in with the mechanisms if you don't work to bring justice and accountability. i have every right to know what my government's true if you want to know why i pay taxes. but i would characterize obama as a charismatic version of american exceptionalism. you know sometimes you see a story and it seems so silly you think you understand it and then something else hears you some of the part of it and realized everything you saw you don't i'm trying hard look at the big picture.