freebird yes video for your media projects free media done to our teeth dot com. blogs are going to washington d.c. and here's what's coming up tonight on the big picture there romney has lied his way through the presidential campaign and he just can't seem to stop what seem queues of line about now and in this modern day pinocchio really be america's next president also democrats in the senate are proposing legislation that would help put some transparency back into our post citizens united world shouldn't they be pushing for a constitutional amendment that would stop the corporate takeover of our democracy instead and a dozen u.s. banks are under investigation for their role in the library scandal how will that scandal affect the american economy and will we ever see an honest and ethical wall

street. you need to know this if mitt romney had to personally contribute one hundred dollars toward toward paying down our national debt every time he lied that america would be out of the red by november ibama campaign and the washington post have hammered romney in recent weeks over his tie ties to bain capital and the laying off or outsourcing of thousands of american jobs. but romney says but romney says he's not responsible since most of these layoffs occurred after he left being capital in one thousand nine hundred nine a new report by the boston globe reveals that romney is lying as financial documents filed in two thousand and three and obtained by the boston globe show romney still owned one hundred percent of bain capital as recently as two thousand

and two and even earned at least one hundred thousand dollars as an executive of bain in two thousand and two three years after romney claims he left the business it's now we can add a line about his tenure at bain to a long list of other romney lies just as voters are demanding the truth about romney's several offshore bank accounts and how he's using them to avoid pain axis does mitt romney really think he can lie is whether the white house white house might have an tonio joins me now. to america just great the obama administration is saying that mitt romney either lied or he committed a felony which is a he's a bad situation if it were on one hand behind door number one you have romney saying that i was i was not part of the leadership i wasn't c.e.o. i wasn't president but nevertheless on the f.c.c. reports he said that he was that's a felony that's door number one door number two is where he's lying to all of this either he's either he's lying to the s.e.c. committing

a felony or when he tells us that he wasn't involved with care with capital he wasn't president he wasn't c.e.o. . he's in a tough situation that you really can't if you can't justify there's no way to take these two odd positions in make them work he very tough position it seems like republicans have been willing to cut him slack on virtually everything else and he's been on both sides of every issue that this is what the whole the in the republican primaries they were all over him about so you know arguably easy to change his mind a lot or he's lied about his positions and do you think that this particular changes minor liar or whatever is might stick. well i think what it does is it raises questions about other things tom and any time you're anytime you're caught in a bald faced lie to where there's no there's no way to justify what you've done they start asking questions so now they're asking questions about about this several

things one is this missing this mysterious sand katie trust that he set up that day one it's in his name and they too he changes it in puts in his wife's name and he does that so we can never find out what was really in it the other story is where he has his employees at his company at main capital the stories coming out where his employees were told to lie to get on the telephone and in part in tell people that they're working for the government so they could retrieve secret information about revenue secret and information about sales in order to take that information and make a decision as to whether about bain capital wants to invest in that company it's illegal to do that but he told employees to do that those are the kinds of stories that come out once we figure out that we've been lied to all along. there's no way for him to get away from this this image at some point the image takes hold we've seen it happen all we should have been all this out we saw these images are very

tough to shift and it's far down the road for him right now to try to shed these images of being a liar now the the classic imprints of those i guess that most people remember mike dukakis and willie horton and and. the whole swift boat thing that john kerry was subjected to neither of those were this early on in the election cycle do you think that given how much time there is between now and november with the billions of dollars that the koch brothers and all these other billionaires who are shelley adelson and everybody else who come in for any of any of whom could with pocket change pay for an entire presidential campaign i think. they're going to be able to paper over on these lies and fix this for it's tough to overcome if you remember jimmy carter if you if i were to say what is the image of jimmy carter right now i don't even have to guess that you would know the image it is the helicopters in the desert that was an image that jimmy carter thought he could pay is way out of the

image stuck when ronald reagan took advantage of it it never went away this image has been formulated very well the democrats finally have figured out that there is a way to project an image that doesn't go away right now they're talking about issues that he can't explain he can't explain how he got one hundred two million dollars for example in his all right ira over a fifteen year period mathematically it's impossible it's a bain capital ira it's one that's going to if this is a story that's going to keep emerging you can't put one hundred two million dollars in your ira at two thousand dollars a year or thirty thousand dollars a year those were his two options those are the stories that can continue to explode they continue to expand if the democrats will stay on message there are stories that he can't answer and continue to make him into this character of a liar it's going to be a fascinating one to watch watch mike pavin tonia thanks so much for being with us tonight and you know i've said it before i'll say it again the only way that romney

can win the white house is by a lie and it helps the has the help of people like the koch brothers karl rove and a slew of mysterious anonymous donors all of whom have pledged over a billion dollars this election cycle to plaster over romney's allies they could do this because of the supreme court's citizens united decision in two thousand and ten and ever since that decision democrats in congress have been desperately trying to at least bring some transparency to this new avalanche of corporate spending in our elections and then try to pass legislation so that of corporations and millionaires and billionaires want to spend billions to cover up mitt romney's lies that at least we the voters know where that money is coming from in twenty ten demick. the house of representatives passed the disclose act which would have done just that unfortunately the disclose act was filibustered that year by the republican minority in the senate so now democrats in the senate are trying to begin on tuesday senator sheldon whitehouse and eight other senate democrats proposed a new very watered down disclose act hoping that the latest more corporate friendly

legislation may attract some republican supporters but is this really a strategy progress it should be using to get corporate money out of politics or do we need to be bolder and push for a constitutional amendment that once and for all says corporations are not people and money is property not speech joining me now is progressive activists two thousand and four green party candidate for president of states and spokes person for my favorite montra or david david welcome thank you tom it's always a pleasure to be here with you thanks for thanks for joining us how goes move to amend it's getting larger stronger and better organized every day i'm on the road over half of my life we get larger and larger crowds coming out and the great unreported story is that we're winning we've got over three hundred resolutions passed at the local level seven jurisdictions we put our issue on the ballot so that voters could actually weigh in on when we do that we win by super majorities my favorite victory west allis wisconsin

a republican stronghold during the wisconsin primary with a huge republican turnout in that election time move to amend resolution one by seventy two percent of the vote this thing has legs it's get it like i say transporters it really is it's beyond partisan politics in the washington post a.b.c. news poll reports that over eighty percent of the american people agree with this that cuts across party affiliation it cuts across ideology tom this is not an issue this is of up principles do we have a functioning democratic republic and the idea that we the people are sovereign that we the people rule and that government cannot infringe upon individual human rights that is a sacrosanct idea. except at the supreme court well exactly. last week or the week before last i guess it was when when the supreme court ruled on the montana case where they basically said to the montana supreme court sorry guys you can't have this law even though the copper kings bought your state and we're going to stop. i was actually kind of hoping that they wouldn't back off of citizens united because

i was concerned that it would take some steam out of the movement of it we need to keep an edge so that people can see how clearly they are and they and these guys dug their heels it oh yes it was some mary it was a merrily dismissed tom they did not even allow the state of montana to make the argument about state laws really laying bare how the roberts court is really not principled they do not believe it they don't believe in states' rights they don't believe in starry decisis they don't believe in judicial restraint their own truthful it best you know where i'm from tom we call that lying. so i just i think it might be helpful if we actually just sort of cut to the chase and recognized we don't have a functioning democratic republic in the united states because they small ruling elite have hijacked our country from us and what angers me as a lawyer not only have they stolen our country they use our legal system to legitimize that that we have moved to and then say enough already it's time for us

to assert our constitutional sacred rights to self-government that's why i'm encouraging your listeners to go to the website move to amend enjoin us we need your help yeah absolutely there are a number of members of congress who have proposed a variety of amendments some of which are as as well formed as some of the ones on your website others that are just sort of partially there i'm curious your thoughts it seems to me like these are all good things because they're starting a conversation i completely agree with you tom they're all good things because they start the conversation but we can't let the conversation end with let's just overturn citizens united i mean does anybody believe we really had a functioning democratic republic before citizens united it is not even enough to get money out of elections as important as that is in your great book an equal protection you outlined how corporate constitutional rights are used to overturn environmental protection laws worker safety laws public health laws and campaign finance law so. we really need to make sure that this movement is clear and

unequivocal only human beings have constitutional rights not for profit corporations not non-profits only human beings and money is not speech and i want to really put a fine point on this tom that means the questions of campaign finance laws are political questions we can debate that different jurisdictions are going to have different ideas about it but those are political debates that require political answer they're not constitutional questions it's inappropriate for the court in acts of supreme judicial activism to come waltzing in and overturning those laws david thank you so much it was my pleasure keep up the great work the website is moved to him and check it out and get involved in the movement to restore democracy for we the people. coming up more than a dozen banks in america are under investigation for the role of a libel or rape or again scandal what affects a lot more scandal have on our already fragile economy will americans ever be able to trust wall street again.

there hasn't been anything good on t.v. . it is to get the maximum political impact. the fool source material is what helps keep journalism on us we. we want to present. something else. download the official antti hopefully cation to you on the phone oh i pod touch from the top story. one life on the go. video on demand on teasing my old comes and says feed now with the palm of your.

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in screwed news the allied war rate fixing scandal is coming to the united states now more than a dozen banks are under investigation by the u.s. justice department to determine just how widespread the rate rigging scandal which might have cost consumers billions of dollars really is so far only one bank barclays admitted guilt in the scandal but several cities led by baltimore are launching their own investigations to figure out if their pension funds to it as a result of the rate rigging during the fiscal crisis the city of baltimore was forced to lay off public employees and cut services but the city now claims their fiscal problems are made worse by the manipulation of libel rates baltimore and other cities have filed dozens of lawsuits in a manhattan federal court against several banks including bank of america j.p. morgan chase and deutsche bank accusing the banks of manipulating libel rates during the financial crisis to boost their own profits while screwing over entire cities so so it could be just

a matter of time before some banks heads roll and by heads roll i mean a slap on the wrist fine since we all know that banks toure's are immune from jail time in this day and age congress is jumping into the mix too with plans to bring federal reserve chairman ben bernanke and treasury secretary tim geithner to capitol hill for hearings before the senate banking committee and the house financial services committee given the charade on capitol hill when j.p. morgan chase c.e.o. jamie dimon came down to testify a few weeks back we shouldn't expect too many tough questions about this latest financial scandal then again and treasury secretary tim geithner knew what was going on when he was head of the federal reserve bank in new york you might actually get some answers after all if there's one thing republicans love more than protecting wall street it's embarrassing the obama administration but here is the big picture for years after wall street crash our economy then made off with trillions of dollars in bailout money leaving the middle class. to suffer the effects of a great depression here we are again in the middle of another wall street scandal and just like the last candle it looks like there might have been collusion between

the banks regulators and governments as witnessed by the tea party phenomenon at least before it was hijacked by billionaires and more recently by the occupy movement faith in the american economic system is shattered today so what effect might this latest scandal have and what will it take to eventually restore faith in our economy and get back on the side of the american middle class here to probe some of these questions is louis luigi zingales professor of entrepreneurship and finance at the university of chicago's booth school of business and author of the book a capitalism for the people recapturing the lost genius of america and prosperity we do welcome your doctors and thank you thanks for joining us in your book you say that we rightly condemn athletes who use steroids who would answer their performance and you know put their thumb on the scale as it were and that we should similarly can condemn businesses who clued to rig markets and politicians who participate with them how do we do this when we have people like for example

congressman paul ryan of wisconsin he's chairman of the house budget committee right this minute he's sitting on five million dollars in cash with his largest donors including not only goldman sachs but to foreign banks was banks u.b.s. and credit suisse group and health insurance like at blue and blue cross blue shield i mean isn't the theory of regulation to prevent harm or keep markets functioning. yes that's the theory as you said the practice as we know is of a different pod is due to capture the legislative level body part is the capture of the regulators themselves so i think that campaign we form is a useful thing but is not the only element i think that other element that would auction in the political and market power of this banks that met many of the problems we have due to excessive market power the collusion that we seem to live a raid would not have been possible if you had to on the banks participating and

not just between seven and sixteen so you're suggesting the government should use its power to reverse space if they were ronald reagan did in one thousand nine hundred one when he stopped officially stopped in force in the sherman and and i trust that we should break up these big banks. i think we should be much more see you as about enforcing i trust i think that rag and was non mississauga me wrong when you did it in ninety eighty the water was very different back then i think there was as change quite dramatically and the concentration especially in the banking sector has increased dramatically since then and so i think we've gone too far and i think we should enforce onto a trust then what i suggest in my book is not only enforce the tradition of the trust but od to net an important element of his journey not conceived in the on to trust analysis which is much power in washington this merger gives two companies i think that the lies ing whether the merger is useful or not to

consumers we need to also concede a much as a change the. political pressure all the ability to exactly the pressure of the gentility but it's always going to be one of the others and i mean it's the power is either going to rest alternately at some level the balance of power is either going to rest with corporations who are answerable to shareholders and consult and customers or it's going to rest with a government that in theory at least is answerable to the people. yes but fully we know the frictions in both the system i think that democracy is a great system and it's far from perfect and couple of governance is far from either and i think that compilations are not really accountable to shareholders because the election of the board of directors of corporation is the closest thing to a soviet election in a western democracy this slate of candidates is proposed by the incumbents and you

can vote yes or up stay in and surprise surprise most people vote yes that's what this will be the unit was about and not only that you write your book the american capitalism also developed a time when the government share of g.d.p. was miniscule as a result you wrote entrepreneurs only route to success was to win in the marketplace because the penniless government had little offer and of quote from your book but that's not all the case the civil war kicked off the industrial revolution here in the united states abraham lincoln giving over what would be two trillion dollars in today's dollars where the money and free land of the railroads to build out the infrastructure across our nation that led to huge demand for steel coal and oil which built the carnegie rockefeller morgan fortunes among others america became an industrial power because of government spending and then we repeated the process in our second great boom during the eisenhower administration building out a national highway and educational system why is it that you libertarians think that the gilded age was somehow magically free of government supported. i think

that sure might have been some intervention but by today's standards is much much less and number two i think that after the give the date to was it people call the progressive able. as been limited i think. is in the mag an invention and what's in force and. that was the guts to buy. the dogs and rockefeller so i think that the balance of power shifted more in the mill as a result of the progressive legislation and i think that unfortunately we have back to the beginning of the twentieth century in terms of political power and also in. so that people feel they are i think that there was a strong populous pressure everywhere because people feel that they're not getting ahead they don't have a future their children are not going to be wealthier than they are and they was

and the system plus they've they feel that everything has been greek that these condos from the live go to many others i think suggest that this is that is not fair so i think at we are sitting in an of a tense situation and a lot of. pressure and the question is are we going to use this i was going to use it to destroy the system that with all these defects created so much wealth or going to use it to make this is that bad and i think that the progressive they are legislation suggests that you coud use this pressure to make this is the better and that's what i'm trying to do with my book where you're one of the arguments you make in the book is that we should have less government involvement smaller government and yet right now government is a share of g.d.p. is government spending is its share of g.d.p. is where it was in one nine hundred twenty nine it's smaller than it's been in the last eighty years and during the intervening years we had the decades of the fifty's sixty's and seventy's were the only three decades in all of america's

history where we had more than three point two percent g.d.p. growth for an entire decade three of them consecutively as a consequence of massive government spending. i'm not sure this was a catch up off the wall war two and twenty years of the pression yet so i don't think that it was the government expenditures if you think that govern expenditure is the way to prosperity greece should be the most prosperous country the face of the well except that greece was not able to according to take taxes in and greece got screwed by goldman sachs and goldman sachs help greece rig. their debt ratios that they can get into the euro and greece doesn't control their currency we control our currency greece can't borrow right now at a one percent we can't yeah it's soon as sort of the problems to new up would be over i think the market will stop the war about the united states i think that is just an artificial situation i think that the united states are in an untenable fiscal path and they have to be would about that why is that the japan for example

is borrowing at less than one percent and their their debt to g.d.p. ratio is over two hundred percent ours hasn't even hit one hundred percent. because all that that of japan is by japanese and pretty soon this is going to and because the same is the japanese would not be enough to hold that that and then when when that day comes which is not that far away we're going to have a huge jump on these prizes i think japan is the next squeeze of a very interesting to see professor thank you so much for being with us tonight. my pleasure. crazy alert the biggest loser marathon sexercise edition. potter guinness book of world records heaviest woman in the world last year weighed in

a staggering six hundred forty three. i knew that i needed help to lose weight and i wrote to phil oprah dr oz nobody would hear me or respond so i decided to get in contact with the guinness book of world records and i thought ok i'm already this size in my eyes will take advantage of it to get my story out there in an attempt to lose some of the weight rather than taking the traditional route of diet exercise part of decided to take on a vigorous sexercise routine that's right potter and her much smaller one hundred forty pound boyfriend engage in marathon sex sessions six to eight times a day told the ukase closer magazine that quote i can't do much in bed but i burn five hundred calories a session it's great exercise just jiggling around pardon alex obvious boyfriend couple has to be very careful having sex he told closer magazine it's really

dangerous for us to have sex because at any moment the bed could collapse and one or both of us could be seriously injured or even killed from the impact so next time you want to lose a few pounds head to the bedroom jump into bed and try not to kill you. after the break according to a new study the number of entrepreneurs in america has dropped dramatically over the last three decades what happened to the idea of starting a small business in this country what can be done to bring back america's entrepreneurial spirit.

a.

blog about the big picture i'm tom hartman coming up in this half hour a new report says the number of entrepreneurs in america is down over fifty percent since the one nine hundred seventy seven what happened to america's entrepreneurial spirit and what to do to get it back also why does some people give so much money to charity while others don't seem to care about anyone but themselves.