ok this is how we're going to deal with it but in the case of the f.b.i. what they say when they use them for federal cases is all right so we're going to collect all this other information that we don't necessarily need but we'll do it afterwards. that was our if you left producer andrew blake and that is going to do it for now we will be right back here at eight pm for our coverage of the third candidate debate stay tuned. you know how sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you knew you don't know i'm tom harkin welcome to the big picture.

download the official publication. choose your language stream quality and enjoy your favorite. t.v. is not required to watch on t.v. all you need is your mobile device watch on t.v. any time. i am backstabs or welcome to the kaiser report emotion other black day for the banking industry oh wait did i say day i meant decade bank stores have been very

busy crashing global markets defrauding investors missa pallies and taxpayers ripping up the elderly wrecking global interest rates overthrowing governments and sponging off the taxpayer. these ever get the sense that soft love for bank stars just isn't working stacy herbert. x. kaiser from that list sounds like it's not but you know who the tough love is for cameron it's time to mug oh goody david cameron will distance hug a hoody image on law and order tomorrow and promised to seek retribution against law breakers he mentioned nothing about the pinstripe wearing a hoodie right he said that red retribution is not a dirty word says david cameron referring to those who he sees in society as being lawbreakers and yobs and yet the city of london the sponsors david cameron is rife with yobs he is in fact king of

the obs david cameron he should be aware he's king of the chads and king of the ups he should be wearing one of those burberry caps backwards and what i number ten downing street of cordingley because he's a gangster bangsar supporter he says retribution is not a dirty word but he's lying there because he is the one that tells us it's time to stop bashing banks toure's yeah well i think it's time to dig in and bass some banks are in a way where you choke off from the source the evil elements that are corrupting society you say there's at the head of the river of corruption is before the four horses of the paper apocalypse barclays h.s.b.c. lloyds and royal bank of scotland those are the four horsemen of the paper apocalypse david cameron they're coming to town and you're there in your shabby burberry outfit by the wayside by the roadside going yo yo i'm david cameron only

you know what you need to get serious my man bro if you understand that you know just forget about the plugs worry about the frickin hole of cos coming down the pike from the baxters. well once they're in opposition then i'm sure you'll see some concern from the likes of david cameron about the banks for yobs but right now in opposition is labor ed miliband to demand f a x. faster on mis sold swaps ed miliband is going to ask the financial services authority otherwise known as the financial conduct authority why more is not being done to help the victims of swaps didn't mention about the fact that we should seek retribution against the banks who missile the swaps it is to go deeper further harder ed miliband forget about this missed selling babie stuff you need to

identify that this is a fraudulent cells conducted by financial terrorists and act accordingly. well here's what the government is concerned about remember now at the top of the show we said david cameron says we need to seek retribution against hoodies so here according to this article in the telegraph is what the government is concerned about f.s.a. recently up its estimate of the number of interest rate swaps sold to small businesses from twenty eight thousand to more than forty thousand and one senior cabinet minister is understood to have told colleagues he is concerned the scandal has the capacity to be extremely damaging to u.k. banks love it when the folks go into the local stores and they set it up blaze and they steal everything and they loot it's clear that you need to cut the looting off at the head of it the gangs and stop that from happening to say that oh the looting that's been perpetrated by credit default swaps is up by billions of

pounds and we're suddenly thinking well maybe we need to get more serious about the criminal activity going on in the neighborhood that is britain you know it's a little bit too late too little too late oh well you know you're getting. getting . to know cameron talks about aspiration nation meanwhile the baxters are creating a should nation choking the nation off from any economic growth any possibility of economic growth but again here are victims across the u.k. so a medium sized enterprises have been defrauded and bankrupted their savings depleted because of these missile swaps but according to two sources the government has become increasingly worried that the cost of compensating swap victims could dorf the more than ten billion pounds paid out to victims of payment protection insurance misselling now two things first of all the reason why these victims of

this insurance product remember it's not just interest rate swaps it was sold to them as an insurance product that this was just a typical insurance policy like flood insurance you buy insurance on the interest rates the same banks involved in this misselling were also involved in rigging libeler rates down so forcing all these small and medium sized enterprises across the u.k. to pay them more as a result of all the interest rate swaps sold to them so it's like here you have let's say jimmy savile's a pedophile so the government knowing through back channels on the b.b.c. that jimmy savile is a pedophile they give him the keys to a children's hospital. now look at the financial terrorist market here you have libel rating being manipulating interest rates down so that credit default swaps all to small medium enterprises are forced to cough up. the extortion penalties put them out of business there's no difference between

a jimmy savile pedophile and let's say mark wakely over there at the regulator that he's in charge of f.s.a. soon to be the conduct authority they're both in the same racket of abusing institutionalized institutional a level of b.s. of the system they should both be met with the same consequences savile's gone but these other regulators are still alive and breathing let's go get em. no the reason why the government is now currently so concerned is that there is a lawsuit making its way through the courts and that's the guardian care homes and they were defrauded of twelve million pounds they say by barclays regarding these interest rate swaps so according to the article the lawsuit is seen as a test case for the way the courts will treat the issue and the fear is that if the company wins it could open the floodgates to tens of billions of pounds of claims that would have the potential to cripple one or more of britain's high street banks again they're not concerned with the fact that all these small and medium sized enterprises have been crippled by these fraudulent products and we're most people

do work for small and medium sized enterprises those are the places that you're likely to find a job not at a high street bank and they're worried about that right ok which actually book desperation nation may well i was born pursues the asian nation and basically jimmy savile there's a lot today he'd be over by lloyds banking system just so part of default swaps you know hospitals and children's orphanages so not only what he committed he's a gross acts of pedophilia but it could bankrupt them simultaneously it's a two fer you keep saying the name and speak see and this is where the tories when i first lived there in ninety four ninety five there were a lot of autoerotic asphyxiation sort of scandals with the tory party. cost of the stuffed in there the autos fix them so for the auto erotic leo rouse themselves that's what the tory create is all about auto erotic suicide that's what they're known for so we're going to go a bit back in history to june of two thousand and twelve just

a few months ago to look at this this scope of this scandal this mis selling scandal we were betrayed by our trusted adviser twenty eight thousand small firms fell victim to another cynical bank fiddle now even here the daily mail they're trying to be like hard on the banks but they call it a fiddle. these were some cooties who had like you said you know burned down a local shop and these are local shops by the way that were bankrupted by these interest rate swaps yeah that's right phil doesn't even come close to describing the extent of the crime now you keep referring to the analogy of the terrorism that we perpetrated around the world by so-called zealots and extremists i think today in britain given the current scandal you have the word would be misappropriated the use to describe again sir jimmy savile he wasn't just fiddling a few boys on the side was a he was engaged in

a socialized wholesale rape across the nation hundreds and hundreds of victims so to h.s.b.c. barclays lloyds banking royal bank of scotland who argued that most of them are owned by the people themselves the people are financing their own self oh my god this is the lowest. so back to this article in the daily mail since two thousand and one the banks have ruthlessly mis sold complex loan deals to entrepreneurs who did not understand what they were doing that was according to the financial services authority the four banks they named barclays lloyds h.s.b.c. r.b.s. now they go on to say many small businesses who wanted to take out a loan were told they could only get one if they also took out an interest rate agreement right so those four banks they go to the small to medium enterprises they get them to buy into a structured credit product a credit default swap the risk the big risk is of interest rates go down

adventurous rates go down then they have a discourse of billions and in many cases go bankrupt simultaneously bank of england mervyn king engages in quantitative easing whose sole purpose is to manipulate interest rates down zero who is mervyn king work for those four horsemen of the banking apocalypse is a conspiracy he had damn right it's a conspiracy this was somebody people are dying and yet what's cameron saying oh retribution for the hoodie that stole two pounds worth a look as a down there at the corner back to the store nice going. smarmy nutjob. well you mention this stealing the luke is a now back to the story it's time to mug a hoody cameron is introducing fines for prison bosses who fail to stop criminals re offending after release and a new paid by results system so let's put that into context of the financial

services authority previously fin bro now financial conduct authority that just changes its name any time it gets found out in complicity in fraud so the quote reads it marks another black day for the banking industry particularly barclays over the past eighteen months barclays has been exposed for ripping off the elderly avoiding five hundred million pounds in tax mis selling payment protection insurance to the tune of one point five billion pounds manipulating crucial interest rates and now misselling loans to small firms so where are the fines for the people who allow barclays to do all of this stuff we just that's just a list within eighteen months max yeah well according to cameron he's going to pay out a bonus or a bounty to people who stop or turn in or help to rejuvenate the mind of the criminal therefore some sparklies as you just pointed out is committing massive massive scale recidivist nature of repeat criminality that

anyone who hopes to remove barclays from the equation will get from david cameron a check for how many ten billion pounds of i mean as i said that would help the economy we'll just make a check out to max kaiser for ten billion euros dave i mean my money i mean we bought a stationary front thanks so much for being on the report thank you max states are coming in the second to. predict three. more charges. coming from the. three. three. three blown cloning video for your media projects and free media and on to our t. dot com.

neutrino fashionable side. radioactive fallout over government betrayal of the government of law and claude and claude and claude how can the truth be revealed if there's no official evidence there was indeed a very bright day to the servicemen concerned who were given no problem protection and to the people of this country generally because of the right deal at the full. the secrets of the u.k.'s nuclear tests exposed.

welcome back to the kaiser report on mask eyes are time now to turn to a quasi conservative member of parliament and co-author of burt county a shame cause i welcome the kaiser report card very good to see. all right cause they david cameron says it's time to seek retribution against. re offending criminals does that apply to the banks or is down the city as well or just hoodies i think in that particular instance it probably just refers to hoodies but you're right i mean i think there's a feeling that a lot of the activities in the city of london haven't been accounted for and unlike

in america where the have been some high profile trials i think in britain we have really gone off if you like the group of people who may or may not have committed crimes this seems to be a remarkable disconnect between the words of the prime minister and the reality on the ground eventually gave a speech at the conservative conference in birmingham many saying that aspiration nation and he's people should play by the rules and he wants people to enjoy all of the benefits of privilege but each doesn't mention anything against you know barclays for example they keep going over and over and over again in crime after crime after crime but what i'm not sure about the issue with your particular issue with buckley's the other the rules the misdeeds if you like the relevant people if they've left out so that's an issue for the just no no they don't all initiate for crimes that they've committed to if there's only ambiguity there criminal behavior that may well be it could be criminal they could have done terrible things but that's we have a division of powers which you do in america and this is an issue for the courts

the prime minister should not be making a speech or a party conference about barclays that's not what the party conference is for but the economy is contingent tiredly on the city of london they contribute ten percent of g.d.p. but if you look at how that filters through the economy a large it's a much bigger footprint in the economy they are that it's not an aspiration nation it's an asian nation because this city of want to choke king you relevant they're choking this vomit it's not just about the city it's about it's about banks throughout the country with very poor bomb and sheets. where in a balance sheet recession you have a balance beechen you suffer the consequences in a capital society wise go to the state get bailed out the state policy will the you should continue to. perpetuate these fraudulent the issue is that you've got somebody deposits the people who you couldn't at the move go to the wall and that's why we've insured deposits and we're trying to solve what we're up to fifty thousand pounds the government will underwrite the polls that's when we come up with the issue with the banks as we will very few number of banks we will food

banks essentially and with a concentration of banking on only go police structure we couldn't let the just go towards and clearly i think your point about the asphyxiation economy is a well made one because the just isn't enough the new engines of growth in this economy and we need to start creating them so the issue ring fencing which is the response now to these banks that are using deposits to speculate with them when they make bad bets they go to the government for balance and they say you know what we need to go back to let's say it was the gold elastic america but oppression now there's some idea to separate the deposits from the rest their response is a kind of a ring fencing but not a direct separation of the two paul volcker the former chairman of federal reserve america was here in london last week and said that the current system as iterated would be insufficient and lead to a creep getting back exactly to where we were with loopholes being exploited what

about is that is what are you good at you've got to give the proposal some sort of some you can look and say that the thing hasn't worked as an exam we haven't made want to keep making the same mistake over and over again as a definition of insanity right that's true that's right right if you have letting banks run with the ball without any constraints and they themselves are their own lobbyist but there are a lot of things happening with about to go ball three which is saying that they should be putting more capital against that loans which is restrictive i mean that's something that is going to be restricting their activity if you have to put up with a leader to have one capital against only obama so to say that we don't do anything we're lying that so because you know capitalism to can. the new i think is wrong what about the charge that in the race for the laxity the lympics of fraud london is the clear gold winner because you've got aging bernie made up m.f. global the london there were. going to rely on did you come to london they were

based in america and they do all the fraud in london they america outsources it's a banking fraud to the city of london well i don't mean did you get the memo on that cause i'm not going there there was a comment look there is there are no circulated information is that this we have to stop this look the could be a tension between two things one you want the regulations so that people can go about their business and the second you want controls and undoubtedly in the last period we probably went too far down the other way but to suggest that we're going to sort of put in capital controls and we're going to start over again to london that would be death to london the city of london is the most successful economic phenomenon in this country let and to regulate it to tax it to try and kill it would be madness for any government but you know understand that is germany and they're saying you know what maybe frankfurt could be a big financial center in europe and they playing david cameron for chump by basically getting him to make the untenable position of we need we want to defend the city of london and we're going to pull out of these evil reform package is in

germany like saying defend the city not in your defending gangster who will be in the running for i think i think i think we can we can exaggerate what happened to the city of london has been the center of the british economy for hundreds of years and it's always been a big. asset to the british economy people have been saying that frankfurt will dominate for the last twenty years i'm old enough to remember when the euro when we didn't join the euro one of the only ones for britain joining the euro was that the other if we didn't join the euro frankfurt is going to take over that didn't happen the city was very successful now i'm not saying that everything in the city worked but and i'm not saying that it was it was the best possible outcome for us but we can't kill the golden goose is no point trying to slip the golden goose is through it's going to go you know you've got to. you go to preserve it so that they can lay golden eggs this reminds me of a woody allen jet here's a doctor says doctor my brother thinks he's a chicken and the doctor says take these pills little carom the guy says no no you don't understand we need we need the eggs so we do you know say ok you need the eggs a fraud it brought a little. food i mean to denounce the whole yet there were food and things that

were buying things that happened but to say that the whole thing was wrong was food so it was like you know it's all wrong because no matter what isn't going could you make it sound like don't call it what is on the industry sit on interest rates and money what is the biggest determinant of interest rate live or yeah well i didn't answer back from right i agree i said look in life or the bank of england ok this is going to institutionalize fraud within everybody does it really and. let me say that it's not a big deal to talk about this that's in the real world the govern the bank of england about one hundred years has always had some interest but pun intended in the interest rates i mean if you if you understand the history if you look at how the bank operated the bank used to go around the banks and so where do you see the interest rate in the in the movement of the bill it's them say i'm not condoning what they said but i am suggesting that if you look at it historically this sort of behavior has has happened before now we need to clean it up but to try and just pretend the whole thing is bankrupt and we need to close the whole thing down and

just sort of sell it all off as understood the church is going to use a small civil five biggest lap and i agree i agree i think we're talking about i think i think we could tighten that up i think we could in terms of the the sentences and the traditional routes that should be much more stringent you say this is for hundreds of years one hundred years ago designers of evil behavior would be sent to the tower of london i mean the insider trading ok insider trading was rife in the city that some people made money now we put introduce rules to criminalize that and we tighten that up so we can actually as legislators as politicians as judicial people we can actually introduce little's to type it up but to say that the whole thing is corrupt. bankrupt and should be shut down i think isn't right hopefully the worst thing that that elements that are exhibiting recidivist tendencies to commit crime over and over again their career criminals it doesn't jive with the prime minister's attack on let me one of the biggest engines for job creation a small medium size that i loosely you and yet and yet fraudulently sold interest

rate swaps products have caused many of these as a means to go bankrupt in the u.k. yeah ok so the getting back to appoint a moment ago in terms of the bank of england has always been interest in interest rates it also had a hand in interest rates here you have the city of london selling assamese small and medium enterprises products part of the fall for products to hedge against interest rates going down through simultaneously you've got the bank of england engaging quantitative easing which is pretty much does what putting the interest rate keeps the interest rates down really creates money that you're seeing from fraud that is not a racket we see the issue with interest rates is that the biggest from my point is a politician the biggest exposure to interest rate movements of people's houses. and so the interest rate environment on the whole book in my constituents is a much better environment to be to live under just because they're not going to work at all i mean a medical it's a bankrupt because the bank of england colluded with the city of london that just

fraud let's let's let's let's put it the other way let's adjust for the interest rate the bank rate double was two percent now that would be cool. to people to my constituents the people who are paying for it and removed it on their houses that is the case today where interest rates were low and let me explain something to aim at capitalism. you can't have capitalism without capital i can't have capital without a savings i really can't have savings unless you offer people in interest rate to attract their savings that's what the bank of england raised to two percent interest rates today it would be the best possible thing for this economy yes the housing market would suffer yesterday be a short term collapse let's say almost. in the system but then you'd be building on sure footing on the start of any of us i honestly don't care what a quantitative easing you know i'm not afraid of you know that you know what you don't know the fact i'm not a fan of course the let's get this right i'm going to fly out of course to using i've actually written stuff saying city am i've actually written an article saying

this of easing is and that's going to work but i'm just i'm just i understand that the low interest rate environment is very important for people and they're not the know comfortless you see that's a problem the majority of people in this country are in debt as they go up they go household debt and when you're in that sort of position a low interest rate is but it the debt is coming through things like top up fees for education when really it's coming through the house of that we have the biggest housing bubble in history you know over twenty years people have maxed out on boring to buy houses yeah a lot of those houses probably don't have the same value but the debt still lingers and then you have they got debt they've got what is called floating interest as you know it's not fixed we went into a system in this country where people bought houses on floating rate notes if you like. so the interest rate varies as to what the bank rate is there just in the deal to devil that's being made here because sure the interest rates of the home you're trying to manage to keep the constituents happy meanwhile for energy prices

that are slaughter killing any incremental gains from interest rates bart officially being suppressed sure you save about two hundred bucks on your mortgage you can pay three hundred dollars on food or energy that you lose one hundred bucks that's why g.d.p. is stagnant. because you know it's to go nowhere you're on here and you're in the water and you're paddling in you're going nowhere i think the inflation point would have been made more strongly last year when we had higher inflation and inflation rates in britain anyway have come down in the last year so i don't think that you in terms of the cost of living i don't think your case is a strong as it was would have been a year ago but i get the general point to. in a difficult situation there's no doubt about that i think people are exposed to too much debt and as i say i wish that people you know had savings but you know it's a political number. majority of people in britain. ok first of all thanks for coming on the show realize that you know it's not the maybe the friendliest

environment it's cool cause of course thanks for being on the kaiser who are very much all right that's going to do it for this edition of the kaiser report me max kaiser and stacy herbert i want to thank my guests was acquired thank god i sent an e-mail please do so at kaiser report at r t t v are you guys are saying bio. technology innovation. developments around russia. the future of coverage. wealthy british.