they got used in a illegitimate manner and they're no longer on the balance sheet of m.f. global they're going to have to sue some people and they may have to put some handcuffs on people to get them to return the value of what they took at that point ok now to follow up on the point the m.f. global trustees have said this week that m.f. global did all those records cash movements isn't that outright fraud absolutely and i think it's disingenuous to say that in the last days things were a little chaotic and crazy of course they didn't record things but the difference is did they not record transactions that were legitimate and they're just a little behind on their bookkeeping or did they actually do something that was under the table i believe that you can't have a billion to gone unless they did something that was under the table again with the hope that they could sell the company and be able to put all the money back in time before anyone knew it was missing now francine when i was working on wall street of

compliance officer the guy who is supposed to oversee the day to day margin calls and and balancing the books he was a guy we bribed routinely to look the other way this is similar to this this is a similar situation basically where the the office to compliance guy was slipped a little a few bucks and presto change and suddenly the phones are vaporizes that's kind of what we're talking about well i think if you watched him testify mr stockman last week before congress you would see that you probably didn't have to pay him off he looked a little oblivious to the whole thing and he admitted more than once that he was either out to lunch out on vacation or just completely out of it not invited to meetings not included in the discussions at a senior level i mean there's a there's a theory or a word for this is called plausible deniability the less people they tell the less people they have to worry about. that might slip up and say the wrong thing and

blow the whole deal i think that the machinations were contained in a very limited group of people perhaps the two or three people at the top and all these other folks that are being dragged through the mud in the operations of the back office some of the names that were dropped at previous hearings those people were just doing their job but i really don't believe that they were part of the criminal or the illegitimate activity that took place i think that they were just there and did what they were told to do ok now who specifically are the owners involved in the m.f. global case and all their any conflicts of interest their daughters are pricewaterhouse coopers and they have a very long history with some of global because they were the auditors and they still are the auditors of the man of man financial which is the company that spun off. global into a public company in two thousand and seven peter you see also was the ones that

created the original internal control procedures and sarbanes oxley procedures way back when the company was called refco. pete of u.c. has an enormous number of conflicts with this particular issue and they're not being called to account they haven't yet been called to testify even though the rating agencies have they know where the company stood from a segregated assets perspective at the end to a report period in march at the time when the bonds were issued in august they had to file special reports with the c c they had to file special reports with the c. f.t.c. and those reports are no longer on file at the c.c. or the c f t c so we as a public or the investors of the customers can look and see what did you see say or do about any kind of weakness in controls at any point in time in the immediate future or media past now one name that keeps popping up all the time is j.p. more. again what was their role in all of this well interestingly enough peter b.

c. also audits j.p. morgan and you have peter obviously also auditing the law firm that the trustee get is works for so you have a lot of a vested interest in everybody keeping the noise down and in fact j.p. morgan was the primary banker to m.f. global and j.p. morgan was also the trustee on the bond issue of global had back in august my strong opinion is that no one is willing to say that the money was actually taken or stolen because that means that all of these folks have to acting particular the trustee and they're going to be suing firms like j.p. morgan and peter have you seen like they've done in similar circumstances such as refco or any other bankruptcy new century some of the other bankruptcies that had very strong pointers to these third parties like the banks the investment banks the

law firms in the accounting firms who allowed criminal activity to take place and even look the other way or potentially help them along the way and reports suggest that j.p. morgan in the bankruptcy was junior to the customers in terms of claims but somehow that manipulated the regulations to become senior to the customers and in fact stole money from customers describe what events took place is that a fair characterization there is a lot a lot of concern about how the bankruptcy was actually structured that it was a forced bankruptcy by supposed securities investor protection or core corp that put. the wrong people as a priority and that if it would have been done as chapter seven then they would have had the customers put first my personal belief is that this is really sort of peripheral to the fundamental issue if there. wasn't money missing it really

wouldn't matter how the bankruptcy was structured because you wouldn't have to be as concerned about customers. having to eat the loss that's not occurred too often however it has happened before and some of the comments that have been made in certain testimony that oh customer assets have never been taken this is never happened before we never had to deal with that is not necessarily true it's just that these things are settled quietly and there are settled. in ways such that we don't see who were the real culprits but there's plenty of examples of people taking customer assets the sentinel case which is one that's been mentioned quite a bit and there was one about ten years back called griffith trading and nobody talks about that because everything is under seal for it francis mckenna you mentioned rev como a couple of times and of course going back to two thousand and seven the rev co situation blew up it was a huge red flag at the time in terms of coming global

financial and market collapse but nobody did anything at the time but could you give us a little insight into how rev co situation relates to the m.f. global well refco is sort of the genesis of m.f. global refco is the futures firm that became m f global after it was sort of washed through man financial but refco as you alluded to was a big scandal a big fraud a bankruptcy people went to jail people were sued in that litigation is still going on bankers lawyers and accounting firms were sued but they fight it because as soon as you have executives that have actually done something wrong and that have been convicted of it everybody else just claims that they were duped and that's the most common defense and that's the defense that probably the accounting firms lawyers or anybody else that was either standing on the sidelines or. helping create documents

or support this effort at m.f. global will probably claim they didn't know or they were fooled or they had something put in front of them that they didn't really understand refco also had something very specific occur that helped them along it had a bankruptcy examiner the trustee hired a specific attorney to go through and do the investigation here at m.f. global we have a do it yourself investigation this turned into a cluster schmuck between the d.o.j. the c. f.t.c. to some extent the c.m.e. although they've been sort of put on the sidelines and you don't have anybody really with a completely independent or objective view gathering all the facts taking interviews and depositions you have a lot of competing interests and therefore the possibility that somebody is going to keep something under the rug it will never really know the true story given everybody's willingness to defend each other and keep the other out of trouble all

right finally junk or sign of m.f. global he claimed in front of congress that he had no idea where this money went do you believe him and that statement francine mckenna absolutely not and i think that he was probably instrumental to do the kind of deal they did to try to keep the company alive because i think that that was the goal of course dion ablow and his consider larry ferber to keep the company alive they had to have a go to person or a go to for somebody to help them through this process and those kinds of connections come through long term relationships i suspect that when we find out who benefited from this situation we're going to find somebody very close to course i knew or to the goldman sachs ok love to have you back on that time though thanks so much for being on the kinds report francine mckenna thank you all right and that's going to do it for this edition of the kaiser report was made. mask iser and

stacy herbert are like my best friends same account it was so many male players do so i kaiser reported r t t v dot ru until that time x. had a saying by. egypt's

streets on squares are alive with the rallying cry outs once again a year after president mubarak was forced from power. people here are calling the military council to step down immediately saying they're blocking reforms in the country more from tahrir square just ahead. and more pressure is piled on the syrian regime as a violence escalates a new resolution blaming it lands at the u.n. general assembly. greek lawmakers to brussels with more cuts in exchange for a bailout cash people vent their frustration on the streets about. it

is a good to have you with us here on our roll received this is worldwide news live from moscow egyptians staging a general strike and a day of civil disobedience to mark the first anniversary of the toppling of former leader hosni mubarak the calling for the military rulers to step down immediately accusing them of hindering reform there were reports from the iconic sober square if you ask those people they will tell you that really nothing has released least in the years has been barak has been ousted as a matter of fact there is saying that things have gotten worse because now they have to deal with the military council the scouts which is a head of the country's government right now food for refusing to step down for saying that they are going forth with democratic reforms but most people here

believe that is not the case and that is why they're calling for this massive act of civil disobedience the people who are i think i think the source of this call are the egypt service nuri alliance which is comprised of. more than fifty political groups six of them six of them are the most probably revolutionary groups in the country a lot of them are university students for whom it is the first day of the semester and they're staging sit ins and walk outs they're not going to lectures they're not going to classes they're boycotting exams they're saying that they do want to see some real changes towards democracy in the country which they haven't seen yet they're also calling on workers for massive strikes to go on indefinitely until the military council steps down but a lot of the parties that have made it into the parliament. during the recent elections are actually not supporting the strike primarily or we should know it's the muslim brotherhood who are saying that these that this these calls for

a massive strike are actually destructive to the country because that will only charge egypt into further poverty and disarray also the religious leaders in the country are not supporting the strike as well but students the young people who are behind this really show with the workers who wanted to see some real differences they are saying that things must be chasing me more on why it's absence are going to strike here is my colleague mary snow. around a thousand killed at least six thousand injured and even more still missing egypt's people have paid a high price to live in a new country but despite all the sacrifices the shadow of the old regime still lose large during mubarak thirty years of mubarak's rule the number of people try them under military tribunals where one to two thousand now you know within about ten months or eleven months we have twelve thousand which is of course a humongous number for a country ruled by the military the supreme council of the armed forces or scaf

that's no surprise but surprisingly enough those discomforted over from who'd previously run the country are not themselves before military tribunals. for. suspected. the. civil court system. the ordinary people i mean. medical records this is. and this is in the. hasty with no proper investigation usually with no lawyer and behind closed doors and with no right of appeal human rights activists complain military trials provide no justice and violate human rights you know you have a nineteen year old getting a twenty five year old center near centers because he had a box of molotov cocktails and people who are found guilty of killing somebody by

brutally beating him up and torturing him until he died these are getting seven years in jail so i mean there obviously there's something wrong with this picture a lot of these people are trying for absolutely no reason i mean some more just just being in the wrong place at the wrong time is enough to get you in trouble that's exactly what a man says is his case september the time these really embassy in cairo the place. beyond screenplay writer was present at clashes between the army and demonstrators and began helping the injured arrested he was brought to military barracks after summary trial which lasted just twenty minutes he was taken straight to prison to serve almost four months for terrorism he says the military dishes out a very rough justice. in the emerging a seventy two year old who's been in the army for at least two years it must be hard for him to take off his uniform and this large stuff and this was the only way

they know how to deal with problems. for several days was far didn't know her son's whereabouts. when his sister came to me and said i have to talk to you i knew it was about him hoping for the best i prepared myself for the worst. a month after ahmed was released he now faces yet another trial from the same incident at these really embassy. goal is to intimidate people the message is clear if you go to to really you'll be arrested and it makes us even stronger how is it they don't understand that matter is no work you know a book he wants a title you must shut up he explains if people didn't give up after been beaten and humiliated they'll never give up until their voices a hand in. the citadel in cairo egypt a medieval symbol of power and strength it was fortified centuries ago to protect

the region from his enemies at that time crusades and crusaders today egypt's rulers are doing the same striving to defend themselves and to keep power with thousands in jails and dozens killed the concern here is that they may have been working too hard. griffen ocean r.t. cairo. let's get some more perspective now and talk to dr omar sure of the next part of middle east politics based in cairo for us. thank you for coming on our tour today so the majority that the party that won the majority in the recent elections in egypt the muslim brotherhood are not supporting the strike now considering just a few days ago they were pressing the army to replace the current prime minister with their own candidate why are they sitting so quietly by. i think part of it is that they have another channel to. protest in opposition he threw. out of the whole of entry elections the largest bloc in the parliament and. the

supreme council of the armed forces. on the other hand if this was. a proposition. government. rejected i think the. deputy general. as well just to do. that you know you want anyway. but the many of the protesters we see now on the street what it is to didn't unions or this indicates or the workers do not have enough president or the revolutionaries they. do not have proper representation in the parliament and that's why that is why this is the only channel to show their i know i understand i

understand you talk about various channels have a voice in their frustration and what might be their political agenda at the end of the day but talk about so let's talk about the one year anniversary protestors back on the iconic career square what are they protesting about now can you tell us your voice i think what you're saying why why the protesters back on so we are square what are they asking for now it's been it's been over a year of revolutions now would appear they getting more they want to perhaps not i cannot do you i'm not sure if you can oh i understand we are we are having a few technical issues here somewhere there is a gravel in the pipe short of thank you for joining us from cairo we apologize. i will thank you for your patience here and not see a draft resolution on syria as being circulated at the un general assembly by saudi arabia and similar to the text vetoed in the security council last week calling for an end to violence by all sides it lays blame primarily on the syrian authorities

state t.v. says gunmen have assassinated an army general in the capital damascus the first killing of a high ranking military officer since protests began amid reports of ongoing fighting in the country the city of aleppo suffered twin blasts on friday that killed twenty eight the free syrian army initially claimed responsibility for the attacks but later denied involvement and blamed the government meanwhile syria's opposition says it expects official recognition from arab gulf states later this weekend and with no u.n. mandate to intervene in the crisis the u.s. is now said to be gathering a coalition of states to support the opposition with calls from washington even to the rebels because as deborah an international human rights lawyer says intervention could be a costly mistake. in syria i think it is a matter of there are some very legitimate interest in the country of people who would like to be able to participate more in their government and i think the

government has made some effort to respond they think it needs to make more of an effort but i don't think that comes through foreign intervention it comes through indigenous processes of the people in the country if you look at any foreign intervention over the last several years you see that after the foreign intervention many more people died then could have possibly died through any type of indigenous process even one involving violence and i think that moscow and some of its allies on this matter are very wise in which seen the pitfalls of foreign intervention and there is a u.n. charter makes it very clear the use of force should only be the last possible means of trying to deal with the conflict. you're watching on t.v. it's good to have your company today and still ahead for you this hour causing tension and pollution find out about the claims that american military bases around the world are costing lives through their environmental impact and wrecking the

area around them. also a dog from ukraine becomes a worldwide call legend we meet tress in just a few minutes. the technocrat prime minister of greece has cleared one major hurdle on the way towards more e.u. rescue cash as his cabinet approved the deep cuts needed to secure it however in the process he lost six ministers who resigned now the plan has to be given the green light by parliament a small right wing party has withdrawn from the coalition while conservatives are calling for an early election the new deal includes firing fifteen thousand civil servants and lowering the minimum wage is being pushed by e.u. leaders who have put the next one hundred thirty billion euro bailout on hold trade unions are on the second day of the forty eight hour strike with crowds outside the parliament on friday protesters clashed with police used tear gas in response to

stones and viable financial journalist. believes the greek leadership is not acting in the people's best interests. the government's not doing what the people's best interests it's just doing what's in its own interests and the people don't trust the government the government had an option it could have just said no we're not going to accept these measures and we're going to default and by the way there's no reason that a default has to equal an exit from the eurozone i don't see the connection other people have made that point and that's used to intimidate the population in greece to scare them to say well if you don't accept these measures that we're going to default i'm going to be part of the chaos i'm on the drachma hyperinflation disaster and you know these are scare tactics the only way that they're bailing out greece with more debt so more debt exacts more interest payments exact more exact more interest payments and the end result of that is. feudalism you get to a point where you have no there's no capital and everything you have is credits that you get from your overlords who are the banks or who are the the political elite who own you basically so of course the only solution is their appreciation

default bankruptcy it's to write off the debt let someone else deal with it let the banks deal with the losses they extended the loans they had a great time making profit making fees with their with their buddies in the greek government and the group politicians made a lot of money and now the greeks have to pay because everyone someone has to pay down the line but now than then sort of making the people that made all the money in the past pay they had a really great time you know it should be greek families and people on pensions and seven year olds and couples they can't afford to get in make money and they have to lose their living standards and not die very gracefully because people before them are kleptocrats and still are so it's actually quite outrageous. and of the protests are ongoing as we speak in central athens outside the parliament building a check of the life which is being stream for you it's who taught comb. america's mighty military presence around the world is leaving many locals with a bad taste in their mouth the pentagon is accused of causing massive sometimes

deadly pollution not just in other countries but at home as well saudis liz wahl reports. the united states department of defense the planet's biggest polluter with hundreds of military bases around the world the department is responsible for more ways than any other company or country this is a consistent pattern of a lack of concern for the environment and for human life and of course that's something that's part of an imperial mindset the problem has persisted throughout history from nuclear testing in the pacific in the fifty's fire. to nato attacks dropping depleted uranium in libya it gets into the water table and it does damage to the kidneys and the liver is very very highly dangerous some countries say they've had enough like japan which is pushing for the ouster of u.s. troops stationed in okinawa what looks like ninety thousand people in okinawa and thousands others across japan seems to represent people saying if they have been

for quite some time that they have just had enough others suffer in silence it tends to be connected at least conceptually to environmental racism countries are being occupied and just leveled or destroyed afghanistan and iraq now libya if you look at the history in the late twentieth century i mentioned vietnam earlier. is another place where you're going to see this happening this is going on a vehicle with naval bombing in puerto rico and it happens in our own backyard like campbell is you north carolina where for three decades people bathed and drank contaminated water. only. through. veteran gerry adams minger believes he lost his nine year old daughter to cancer causing radioactive toxins he and his family were exposed to while base there they were told. there is a war or years before they were there well

and he's not alone one in ten americans live near a military site or something superfund site because military bases extreme approaching in not only radioactive pollution also you know jet fuel was how was this able to happen the entire politics is controlled by fossil fuel interests wall street interests and military interests and though the contamination is costing lives the cost to clean up the mast may be too big for the pentagon an estimated three hundred twenty billion dollars that's almost half the pentagon's budget instead the money is being spent here on wars in afghanistan and iraq and military operations elsewhere. and in today's climate in congress the environment is not at the top of the agenda this is the most environmentally house of representatives.