welcome to the loner show where you get the real headlines with none of the mersey can live in washington d.c. now it's time we got a great show for you congressman dennis kucinich will be joining us to talk about everything from auditing the fed and taxes and jobs to afghanistan and iraq so where are the priorities of our democratic leadership and what trail are we leaving behind a broad. of the young turks joins us to talk about live or breaking up the banks and the disclose act every step of the way seems like corruption as lining the path was all of that and more feeder night including a dose of happy hour but first let's take a look at the mainstream media decided to miss.

well if you're working for any of the cable networks today basically the only thing we're talking about is mitt romney's epic fail that's right to get people abroad in england specifically to like him. britain is about one man and it's not about me it's mitt romney mitt romney is in diplomatic damage control mode this morning after series of olympic sized gaffes on the first full day of his overseas trip when romney question london's readiness for the summer games it wasn't just david cameron firing back who invited party pooper romney that's just one of the headlines here today another reads minutes twit it's mitt romney's olympic sized battle with the british tabs and london's leaders in the last twenty four hours it's just a bit like going into somebody's house and saying i don't like the kind of pain you've used no gold for mitt romney as he tries to smooth over what could be called an olympic fail during his visit to london he wasn't really being well received a lot of londoners really not even caring that he was there probably simply drop

the ball mitt romney has not been generating the kind of headlines his campaign had envisioned mitt romney may be longing for home sweet home the republican presidential candidate is having to backpedal from several gaffs in a botched goodwill mission to london. but don't get me wrong on one hand some of this stuff is hilarious it's a lariats because it's kind of tragic to you isn't it if a presidential candidate taking a trip abroad to try to win over the hearts and minds of our oldest and closest allies the allies that he claims that our current president has disrespected and undervalued and what not and then just makes one club after another and pisses everybody off so where to go my way to go but seriously while this may influence perceptions abroad of mitt romney i don't really think it's going to affect the election here at home all that much except the show again that this guy actually makes some really big gaffes and very real gaffes none of this was clipped or edited actually happened but let's laugh about it let's enjoy it and then let's

move on once again my mind is just completely blown by the fact that this is not only not the most important story of the day but it's also just about the only news story of the day for the mainstream media are fine fine i'll give them a little bit of credit they did manage to find a few minutes here in there to squeeze this stuff it. done gets a big french kiss concert goers got so mad they pelted the stage with bottles you know earlier this is the actual name for super glue crazy glue things like that you keep it in your fridge it'll last longer london is electric leading up to tonight's opening ceremony even prince william is getting his head in the game the prince demonstrated his foot skills or lack thereof with some students you know salary actually emits a hormone in and sweat that actually tracks women oysters have zinc in them which also is very powerful to increase libido so when it comes to cosmetics should you have cosmetics in the fridge is that

a good thing would help it lasts i say yes it actually does fans are going crazy over these must have seven years to look at penn state back to eight hundred ninety six the question for you this morning where was god in a row or more properties next and happening now. yeah that's right in between the olympics and mitt romney's gaffes there was some room for puppies just like dessert i guess but personally if i only had a few extra minutes of time to spare today on t.v. that i would suggest that the mainstream media talk about an event that's happening here in washington d.c. tomorrow this weekend thousands of people are expected to rally here to send a message to the president to congress to the e.p.a. about their concerns over fracking has event is called stop the frack attack and it's an attempt for his ations like the sierra club to join with others for activists to join together so that people don't feel completely helpless in the face of a big industry which in this case of the oil and natural gas now i'm not saying that it's going to be easy this industry has

a lot of money and they know how to work the system in fact just last week the oil and gas lobby group the american petroleum institute well they held a red carpet film screening at the warner theater here in washington and the a.p.a. a.p.i. actually called it the hydraulic fracturing a vent of the summer very sexy isn't it. at this event attendees watch some trailers from pro fracking documentaries they sat through a panel much of this in response to josh fox's documentary gasland and according to reports there were several hundred of washington's biggest influencers from capitol hill k. street federal agencies and the media who are there now aside from all kinds of delicious snacks to blog famous even pointed out be cleverly named cocktails like teeny so do you need any more proof of how industries win over this town despite the negative health and environmental effects of fracking there are new bits of information coming out all the time of the dangers a new study just last week for example found a link between fracking and low birth weights for babies or how about the leaked

internal memo that came from nationwide mutual insurance this memo determine that the risks of hydraulic fracturing were too great to provide coverage for that makes them just the first insurance company to choose not to cover fracking for now but i'd bet you that it's not going to stay that way the whole point is that instead of spending money to do more research into how injecting chemically treated water into wells might affect drinking water there for your health you've got the industry spending money to wine and dine washington's elite what we need is more transparency as in what chemicals are being used what we need is more dedication to the safety and that's of the people that are coming to washington this weekend or asking for they'd like a little bit more accountability from washington not to begin destry but to the people after all that is supposed to be their job but i guess that if you're the mainstream media you'll catch on in the few years that we might see widespread effects of the process of fracking and then you act like hey it's also a huge surprise things like stop the frack attack efforts by people to get some

truth to make their voices heard that's what the mainstream media chooses to miss and in fact if the media were to do its job and ask the right questions maybe these activists wouldn't have to travel across the country to do it on their own. well there's only about a week left until congress goes on a summer recess there are a few notable things that have and haven't been done thus far as you mentioned yesterday the house overwhelmingly passed a bill to audit the fed and the democratic leadership isn't exactly on board seven days before the recess and yet there is still no jobs bill out there and then what about that symbolic tax vote this week is a lot more important and people want to lead on their special guest tonight to help us answer some of these questions as well as look into foreign policy decisions haven't exactly played out as planned iraq afghanistan libya just to name a few joining me to discuss it all is us congressman dennis kucinich congressman

thanks so much for joining us today he was here you had quite the speech on the floor of the house when it when everybody was going up to vote for this audit the fed bill and so tell us now for our viewers for those people that didn't get to hear it why it is that you think we need more sunlight on the central bank americans are in the dark about monetary policy the fed creates money out of nothing has given it to banks by the trillions both domestically and internationally we often don't know exactly who's getting their money and some of the banks got money in part from morning special accounts at the fed the fed has a charter that is supposed to deal with employment but you know they basically are setting a new threshold of six percent unemployment. we we need to not only audit the fed but my proposal goes deeper than that h.r. twenty nine ninety which is to say that the fed finally had to be brought under treasury wipe out the effect of the one nine hundred thirteenth fed act which what it did was give the money power to the private banks stright to. put the fed under

the treasury and give the government the power to spend money into circulation to create jobs lower the debt lower taxes and by the way there is a big conference on that coming up if you can go to a website monetary dot org and there's a conference on september twenty first but tell me this looking at the current treasury department that we have the current treasury secretary secretary that we have and tim geithner some of the scandals that have been popping up if you just want to live or as one of them the fact that we haven't seen a criminal investigations really after the you know after the crash why would we want to give the treasury even more power well it's not just it's about making and fixing accountability within the government right now the accountability for managing the monetary system is put with the fed which lacks transparency which creates trillions of dollars you know i think during the financial crisis a critical of sixteen trillion dollars meanwhile people and i don't doubt thanks to

thanks to a. media dating but we also know this and that is that people in my district there were losing their homes because the fed looked the other way when the banks were booking no doc loans we know that there are businesses that can't get loans because the banks have been holding on to their money but the fed's been giving the banks money supposedly to prime the pump of the economy the fed's been a disaster for the american people and we not only need transparency with a want all we asked for is a one time fed audit and you still couldn't get democratic leaders to go along with it just a one time for the arctic but we need to go beyond that and that's why h.r. twenty nine ninety eight the national employment emergency defense act would create the jobs that we need and it would stop the fed from being able to strangle the american economy. interest to big banks but then of course there is the concern i mean ideally the federal reserve is supposed to be this a political independent body we all know that that's not the case right and you know we point that out all the time here but i wonder if it becomes an even more vulnerable to politics if you. if you change the entire structure and if you put it

into the treasury i think that transparency is good but why aren't why isn't the democratic leadership on every word that everything's political in washington that you know wow what the level of unemployment is political the feds charged with that you know how how money is created this is a political question what i'm suggesting is we go back to the constitution which is article one section eight the founders gave the power to corner create money to the congress we need to go back to first principles here of course it's political when we start saying oh we can't get involved in this because it's political that's where you have to get involved because there's always politics going on look what was about the failing to shield the woman is to shield the banks from the investigation on live or you know what that was a political decision that that the fed made their staff told them that barclays was manipulating. and the fed should have initiated a broad investigation and warned the international banking community they didn't do that that's a political decision but so if they if they mean to me this seems like a no brainer at least the transparency if i thought it right that's the easiest

first step and so why is it that the democratic leadership as an envoy to harry reid is not going to answer palosi standing horror that even the white house you know might not be on board if this were to ever get through the senate which i want you know i'm a liberal but i'm not a limousine liberal you know the banks have to be held accountable and we don't hold the banks accountable remember you know there were democratic leaders who are pushing for the bailout i want to judge the bail the bill that was used to pick winners and losers are democratic party is going to stray on a lot of major economic issues one of them is trade two is international finance three is banking and it's time that we took the side of the people on this and regain power from the banks who are actually using it to get more money out of this car. why should the government have to borrow money to rebuild bridges why don't we just issue it spend it in the circulation create millions of jobs rebuild america prime the pump of the economy this is really except there is an institution like the fed you're really talking about a collection of big banks that has control they have too much control that's why

not only would you have to audit as a first step but my plan is to put the fed under treasury have accountability and give the american people control their own destiny while the american people need a lot right now right they need a lot of help canonically they need jobs there's no jobs act that's being passed but tell me what you think of this this entire fiscal cliff battle the sequestration that's coming up because what we're finding out now is that you know because of government rules pink slips are going to have to be issued four days before the elections and so we're already hearing that tens of thousands of people that work for the pentagon people that work in virginia and florida and swing states and they're going to getting pink slips right that do you think that this is all actually going to go through as planned as congress agreeing to it you know now we've heard about this fiscal cliff what's that fiscal cliff made of well it's made of wars that were based on lies trillions of dollars it's also made of the bush tax cuts. over a trillion dollars the impact that you know mostly the people who benefit are at the top and it's also made excessive military spending beyond wars so we're

creating our own problems here but when you say no it's not going to go through congress is going to lead to what their way out you know kick the can down the road to after the election and then maybe even to a new in the new congress comes in in two thousand and thirteen but you know congress this is an election season anyone who knows anything about washington knows what people will huff and puff they're going to blow their own house down on the eve of an election all right i want to talk a little bit of foreign policy with you two before we wrap it up here which is that if you look at what's happening in iraq right now right we've seen a lot of violence we've seen a new offensive started we just saw one hundred people killed in one day on monday if you look at afghanistan right now nato saying that insurgent attacks are rappler seeing the i e d's there is. well the biggest killers of our troops have a lot of analysts that are saying that will the second that we get out of there it's just going to fall back into civil war what do you think that says about you know the trail that we're leaving behind are we going to regret this entire decade of our foreign policy we should we should because the war in iraq was based on lies

or wrecked and that weapons of mass destruction had nothing to do with the ok his role in nine eleven didn't have any to do with an anthrax attack on the capitol so when you look at this you see iraq was was a misadventure and the people who led us there still are to be held accountable we're going to spend you know maybe three to four trillion dollars just for wreck alone afghanistan we should have never invaded afghanistan we should have learned from what the russians found out about afghanistan we could learn that what we say now we just say oops sorry well you know what we have to reappraise our position in the world america cannot be the policemen of the world america cannot tell other nations how to live americans should not try to pick the governments of other nations we should take care of things here at home we should be doing something about a level of unemployment hits ten million people out of work that have millions of people still losing their homes that people are losing their their benefits their hospitalization they're losing their retirement security we have to be focusing on things here at home and stop building this far flung military empire it is insane

for the united states to keep spending trillions of dollars abroad but we have problems here at home let's make america a showcase of democracy and sort of trying to pretend we can do that no other place around the globe well you know i guess all i can say is that i wish it looks like we had a candidate that was actually willing to do that rather than still overextend ourselves abroad congressman thanks so much for joining us tonight thank you thanks. are just ahead on the show the architect of financial reform is now defending it too big to fail banks americans fighting money and politics at a very large amount of client speak with the anchor chain huger after the break. the mission. couldn't take three days for charges free arrangement free. three stooges free.

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so. well it's friday and we've got something like a financial check up for you but with a special guest tonight as a live war crime probe starts in the u.k. what we learned this week about the way that it's been and will be handled here in the u.s. especially if you look at tim geithner's testimony then senator chris dodd says that sanford wheel's call to break up the big banks is too simplistic an approach and we finally heard a few voices on the hill this week take on citizens united including a call from sheldon whitehouse to put things into perspective and realize that there are much bigger sacrifices being made every day and corporations have to deal with a little public harassment so what do all these stories tell us about our bought political system or earlier i caught up

a change of the host host of the young turks and i first asked him if he thinks that there's any chance at this live or probe that with this library probe the u.s. justice department will actually be tough and get it right. so it's a good one all or no to you or your joke or your just or i love how you kid around about this stuff our justice department let us just a moment. well you know i have to say that i think that's too bad but and so in that sense we had her testifying this week right on the hill and people were grilling him about this because the new york fed actually knew about this a couple years ago and specifically they were asking about when it came to the bailout do you think then that people got screwed over because you knew that these interest rates fall see and then you let the bailout happen and he said no no no i don't think there's any way that that that happened what's your take on his response there. ok so the reason that i say they just department will never do

a real legitimate investigation of this is one that's their track record do three and a half year see investigate the worst fraud possibly in american history and they have done absolutely nothing about it eric holder and so many of the others that work in our regulatory agencies that are just department can't wait to work for the banks and have absolutely no interest in investigating them they can't wait to make more money over them but secondly even if they were to go in that direction what are they going to do investigate tim geithner who is the treasury secretary right now who knew about the live war fixing scandal did nothing about it except rewrite a bank memo that was handed to him and he's the first guy they should investigate so of course this is ministration isn't going to do a real investigation and find out that it's the treasury secretary who was a huge part of screwing this up but jane he had to tell me do you think that the brits are going to put us to shame on this one you know first turns out they were going after barclays we saw the c.e.o. have to resign without the c.e.o.

have to resign you know we saw this massive find the slapped on them but now it seems like maybe they're having a little trouble seeing if they can even put a case together so you know what's your take do you think that they're going to out shine us and really kind of shame the u.s. out shame us terms of how poorly we do handle these kinds of investigations. in order for them now and shamus we have to have shame in the first place and i don't think we do to be honest with you i think that our system here in the us has gotten so corrupted that lawbreaking fraud etc all that is become irrelevant the only thing that matters is who has purchased our politicians and who's who are they in bed with and for the banks they're in bed with the republicans and the democrats so look to here's a point for example on the news corp in britain it's a huge scandal what use corp is done and they have allegedly bribed cops now that is a clear violation of u.s. law a corrupt foreign practices that what is being done here in the us the follow up on

that. that nothing whatsoever because this administration is scared out of their mind when it comes to news corp they would be charged with bias if they went after news corp because fox news attacks president obama all the time so they don't go after their political opponents and they also don't go after their funders which are the banks so they don't go after anybody and this is the rest of the corporate media in the us is in the tank for them and i'm by that i mean they're stablished so whether it's republicans or democrats there's no issue of shame who's going to shame just department for not following up on the library scandal c.n.n. . and anything they're enablers. yeah well good point on that when you in that sense too i think that one of the things that we've heard surrounding this library scandals that people will say well you know at the end of the day does the victimless crime because there are lower interest rates and lower interest rates helped everybody but you know how many ways does this actually trickle down we've

seen some lawsuits been brought up by specific municipalities by the city of baltimore by just for individuals on an individual basis how does it hurt people. so two things had to be clarified here number one sometimes they would lower the interest rates oftentimes but it is also alleged that oftentimes they would increase interest rates depending on how they're going to make money on a trade so that is just not accurate to say all they did was lower the interest rate second of all it's also not accurate to say that that helps everybody now if you've got savings and all of a sudden you're getting a lower interest rate on your savings that doesn't help you at all if you've got if you're a city and you are dependent on that interest rate and you lose tens of millions of dollars sometimes hundreds of millions of dollars because you're getting a lower interest rate that most certainly did not help you so you are playing with people's lives either way when you fix this rate it is a big problem you fix it lower or higher and of course they're doing it for their own benefit for their own profit and they don't give a damn what happens to people that have saved money and done all the right things

and you know put away money for their retirement their pension is a cetera all the cities that are struggling to get by that's not their concern the bankers saying that they're above the law i hope in the u.k. that they prove otherwise here in the u.s. trust me they will not prove otherwise if they go after anybody at all for libel or it will be small or middle management guys at most in fact we're already reading reports about how it was a bunch of. guys at the banks who didn't know the words nor oh it was the main banks it was the main executives those are the guys who pay all saw of course the rogue like there isn't a greater rival but so it's interesting in that sense is that we. actually have those seen very rare but you know let's say that it was sanford will the other day the former citi group c. actually come out and talk about how there is so much corruption here about the fact that we need to break up the big banks that we need to separate investment banking from traditional banking and then i'd like to play you a little clip of how chris dodd respond to that take

a look the idea of having this really breaking up these institutions is going to solve the problem i think that's frankly too simplistic an approach. i don't know if that really is that too simplistic it seems pretty simple to me go back to glass steagall and separate investment banking for judicial banking at least one step. no look these guys are all. said it best couple years ago when he said frankly they run the place here the banks do referring to capitol hill and congress crist so senator obviously name is on the dodd frank bill and that bill was incredibly weak it was so watered down and chris thought was totally complicit in that so of course he comes out here in support of the banks again it's not that complicated first of all iceland did it and what happened yeah in the short term there was a lot of pain which we all know because you know you've got to rip the band-aid off and then what happened their economy improved significantly and at

a much greater pace than the rest of europe they did the right way where they said hey these banks are you know are not structurally sound continuing that force is not help our economy it weighs it down as happened in japan is has is happening right now in the united states we don't want the right thing to do in the wrong thing to do is i some was the correct model but we're choosing not to do that because the banks own our politicians they literally give them illegal broads they see here is a lot of money as a thousand dollars for a campaigns and then when you get out of government as they did with robert rubin our former treasury secretary it goes work for citi group about a hundred and fifty million dollars what would you do for one hundred fifty million dollars bribe just about anything right well that's what's going on in the u.s. what it's not just the banks that own our politicians though right and this is something we're very much seeing now in this era of post citizens united and so i just love this one clip from today to i got to play it for you because if there is

any kind of glimmer of hope i guess you could say it's when the senate judiciary committee was meeting and they had a lot of people there testifying talking about taking our democracy back and i really liked what sheldon whitehouse had to say here take a listen. we had asked that young man to go to afghanistan and we've sent him down a road that had an improvised explosive device under it that blew both of his legs off if we can ask that young man to do that we can darn well ask the koch brothers to put up with some impolite blogging. i say hell yeah right i mean the reason they're fighting if the disclose act is they're worried that these big donors are going to be harassed out in the press and by the public who. now is absurd you know all or republicans in the beginning said oh you know we should do a limited campaign contributions because we would disclose the donors anyway then we get unlimited you can't make contributions they say oh hell no we don't want to disclose their donors are we might hurt their feelings if we if you found out that

they were bribing but think about that if you did something positive would you be embarrassed about it being exposed or disclose no you'd be happy about a you have the charity whatever it might be you know help a little old lady across the street nobody's bothered by that being disclosed you are worried something is disclosed when it's sinister when there's something wrong when you're trying to hide things so you've got these mega millionaire as well as the koch brothers or at sheldon adelson or simply purchasing our politicians you think mitt romney won't do exactly what sheldon adelson tells them to do when it comes to israel in the middle east and our foreign policy after it all some purges them with tens of millions of dollars of course the world and you think they were deregulate our environmental regulations here or at home when the koch brothers make millions of dollars by that deregulation that pollute our air of course they will get serious here so. you have a mitt romney that's the reason he wants to keep this under wraps to or you know

everything that then is taxes as well which is you know i'm with you there that if you have some to hide probably that's why you're fighting against transparency thanks for joining us tonight. thank you on. our we've got to take a quick break but we'll be right back. more news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. giant corporations rule the day.