because of jamie diamond and j.p. morgan selling them interest rate swaps on their sewage system that ended up costing them like many times over with the cost of the sewage system was so perhaps even this man robs some sort of shop because he was broke because he had to pay the sewage fee to jamie diamond but the other thing is the police deputy he would never talk like that he did he say this referring to jamie diamond when jamie dimon bankrupted the entire county by tens of millions of dollars i would like to think that maybe he jumped off that cliff because of remorse but i can't give him that much credit why didn't he tell jamie diamond jump. well america's jumping off the fiscal cliff coming up at the end of the year so we're going to have three hundred million people jumping off the fiscal cliff break their leg and then have their legs amputated. well here you know in the u.k. they have a dead cat bounce you know you know growth like that in the u.k. here they report it not very intriguing is it because you strip out the one time

for the olympics and the comparison with the queen's jubilee they renamed the. uncle ben's tower to the victoria tower something they renamed all the all the major money meant but this is all very anemic it's not really growing much at all the tories are engaging in a bit of winning waving suggesting that hey we're great we've engineered some kind of g.d.p. out of the double dip recession but in fact it's slow to school or on tick at best . max first of all is the queen elizabeth tower like the present queen like a folk queen latifa tower this is to bring in the punters come to the queen latifa tower and you can get all that wrapping a good time here in london behaving so we've been talking about bankers jumping off cliffs or being pushed perhaps who knows but here is an image from occupy goldman sachs some people are occupying the space outside of lloyd blankfein is house i

guess they're waiting for him to do some of that dead cat bounce there lloyd blankfein that's right there like back in the thirty's you know people are gathered down on wall street and waiting for bankers to jump out the window and splat on the pavement now people are waiting underneath lloyd blankfein to endow a new york city waiting for him to jump out the window having a crisis of consciousness i'm ready to meet my maker. and then of course before it hit the ground his fellow traders of goldman sachs have already sold forward his coffin futures short and by the time he got to the bottom there wasn't enough room there to lend so he suspended perpetual animation for the rest of eternity otherwise known as purgatory that's what you desire. or maybe one of you know the new york police department is far fine as in part by jamie dimon and j.p. morgan with that two million dollar bonus giving to them during the occupy the beginning of the occupy movement so i see now that some of the new york police department are turning to cannibal is have you seen the story that's right the new york city police department of joining the cannibalism so the sweeping zombie

apocalypse into the law enforcement agencies and in new york city they're eating people so again going back to this crime committed in jefferson county alabama not the one that jamie dimon committed but the one that this guy committed and jumped off the cliff the police deputy said i would like to think that maybe he jumped off that cliff because every morris but i can't give him that much credit so let's keep this in mind as we go to the next headline u.s. sues bank of america over hostile. mortgage fraud the united states filed a fraud lawsuit against bank of america corp accusing it of causing taxpayers more than one billion dollars of losses by selling thousands of toxic mortgage loans to fannie mae and freddie mac. according to a complaint filed in manhattan federal court countrywide in two thousand and seven invented bank of america continued a scheme known as the hustle to speed up processing a residential home loan. to the nine hundred seventy the to

do the hustle again that was the name of that movie and john travolta was walking around brooklyn with a can of paint and the beginning of a saturday night fever oh yes and that was all about the hustle wasn't stagflation of the same days it's been. so operating under the motto loans move forward never backward mortgages executives tried to eliminate tollgates designed to ensure that loans were sound and not tainted by fraud the government said so this led to a defect rate that approach forty percent roughly nine times the industry norm max but countrywide concealed this from fannie mae and freddie mac. . and even awarded bonuses to staff to rebut the problems being found so you would think this is a criminal case outright criminal case where these guys should jump off a freaking cliff or at least out of their windows onto the streets of new york city but no they didn't they awarded themselves bonuses and what is the new york attorney general's office doing filing

a civil suit you know once again there are fighting a gun fight with a knife you know there are some j.p. morgan bankers up above the us in this building and hopefully one of these days you'll see some of them flying past the window here and the fantastic they can quickly make markets and which ones might splat where well if you see that then i would say go along the markets because it means we're ready to start recovering well look even mervyn king bank of england chairman here in the u.k. said that he expects the u.k. banks to crash again because of the failure by the government to reform them in any way all those stories you're talking about here are just a continuation of the fraud that they've been continuing to perpetuate on themselves to britain and the world and even mervyn king is saying look he expects another bank crash another bank crisis the reason why you can't grow up the sony makers because of the the obstacle that is the u.k. banking system they refuse to allow this economy to grow because they keep stealing

the money they keep committing fraud and so this is well known fact but nobody is doing anything about it least of all this morning cameron so again let's go back to the quote from the new york attorney general. and this is him stating why there is a civil suing bank of america the fraudulent conduct alleged in today's complaint was spectacularly brazen in scope countrywide and bank of america made disastrously bad loans and stuck taxpayers with the bills and yet they're only filing a civil suit you know compare it to this guy who stole ten twenty bucks worth of stuff in a bankruptcy shop in. bankrupt county and alabama bankrupted by j.p. morgan and he's chased shot jumps off a cliff you know where where is that sort of action for this bigger crime this is tens of billions of dollars here well that crash the market and in the united states they have a bit of a dead cat bounce in the housing market because he says funds after crashing the market after packaging fraudulent securities after bankrupting banks in europe they

are buying these housing stocks for pennies on the dollar they're going to be flipping them in six months time and then we're back to the primary bear trend after they once again extract a huge amount of wealth from the economy leaving it for dead. so to put into context just the disaster that bank of america is and the billions of dollars if required imbalance from the taxpayer and the hundreds of billions that fannie mae and freddie mac. have required from the u.s. taxpayer thanks to the likes of countrywide and bank of america merrill lynch and j.p. morgan since brian little previous sesar kenneth lewis paid two point five billion dollars for countrywide the charlotte north carolina based bank has lost nearly forty billion dollars on mortgage litigation and investor demands to buy back soured loans credit suisse set of october fifth well this money is goes into the look let me demonstrate the business model of bank of america ok here's the bank of america's balance sheet you gotta watch this very carefully here we go oh yeah

there is going to really evaporated then they say oh that's your business model is simply create a phenomenon where you saw money for a fraction of an instant and but then it disappeared we got the fee and you the american public got nothing in return oh are we going to reform this brazen act of thievery we're not because of our on the payroll of the charlatans and the sharks and the bankers. and now most of these bogus bankrupt more news loans at bank of america are the result of countrywide remember countrywide was the biggest subprime lender in a mare. angelo mozilo received a huge payout he was fined something like twenty thirty million dollars which bank of america the u.s. taxpayer paid for him he was never found guilty or even tried by the way for any crime. the salem witch trials ok you take a big stone around these guys like brian moynihan over there pregnant america you

throw him into the lake and he stinks dies well maybe we made a mistake and the floats back to the top then drown him. well it's not just limited to america where we have all these toxic derivatives the mortgages and loans and our source of so-called assets going to feel like the little demonstration you gave for us there it's also here in the u.k. and we're looking at the next set up for the next crime right here and this headline max r.b.s. is isabel deal rests on mystery triple a counterparty. read this coolmax to understand just the which language the speaking in tongues speaking of jamie dimon royal bank of scotland dealt with the out of the money hedges on its recent commercial property repackaging it's about finance number one by bringing in an identified aaa counterparty to write swaptions against adverse interest rate move right well that clearly makes no sense but

that's the point of it that in other words you're creating a statement that within the statement some of it is to post a business person you know within the statement and therefore it's mobius strip. it's you know what it is it's like somebody said recently that banking and the banking system is comprised of impossible objects which is exactly what we're talking about here that doesn't exist that's like saying a kind of marriage that's like saying well we sold our house to a family of ghosts and they say they didn't pay a boat we saw you read it again it's total jibberish well. you know what. i'm going to be a part of that was that you know what i thought was my interpretation of this max is give us your money or your debt oh plus they said a mysterious aaa counterparty there are no aaa counter parties anymore there's one the only one in the only sterling aaa counterparty because there are no governments

that are aaa is the bank of england ok well then that's a lot of mystery number one. right number two just said their system is going to crash so as we're making lying through his teeth and saying system is going to crash we're not going to stimulate anymore anyway but we're the mystery aaa counterparty and if swap station nonexistent concatenation of something that we pulled out of jamie diamond shrinks saying well according to the article swaptions are options to activate an interest rate swap at a pre-agreed price in time and isabel the times are staggered to cover the period when interest rate movements could have the greatest impact on the recovery of the loans not doesn't exist and you can't have an option on a swap on something that doesn't exist it's just it's just it's just pure nonsense and they put this language into the public record to cover their butts instead of just saying well i mean a yacht payment so i rob some old granny. car instead of just falling off

a cliff and breaking their leg and having it amputated right that's what that language says in a roundabout kind of way ok stay sarah thanks so much for being on the kaiser report. states and for the second to be speaking to john logan jones in maine all about lobster economics. commissioner. critique a should three years for charges free. range month free. three stooges free. food free bonus clothing videos for your media projects a free video dog hearty dot com. polls

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max kaiser welcome back to the kaiser report time now to go to maine and speak with john logon jones who is running to be a representative from a state house in district one twelve john welcome to the kaiser report thanks wrong imax all right john logan jones you're running for a main state representative on a platform of primarily about civil liberties and economic matters between occupy

wall street and the tea party these seem to be the two biggest issues for young people and yet are completely absent from the mainstream debate why is that god don't have a good answer for why i guess people just don't want to talk about it because it interests take it but do i'm certainly talking about it and it's resonating with voters so i'm going to keep talking now a pew research poll just out shows that a majority of americans want the u.s. to stop intervening abroad that's never going to happen of course is it is it too late to stop the military industrial complex well that's why i became politically motivated i served in the air force has intelligence specialist and after my first deployment overseas i had i was what i want to. waste the time resources and tragically tragically lives so you know i hope it can be stopped and i'm right for state office because you know one way that we might be able to put pressure on the feds to put an end to this war is for states to stand up and take control of our

national guard units and say you know you're not going to have our troops there. defending our home and you know they're supposed to be here for an emergency and not in some far off land so john tells a little bit about maine because we hear about vermont and they've got a socialist in vermont bernie sanders and who's on some times the bill maher show on h.b.o. except for a people that for a moment want to secede from the from the nation and they get a lot of press we don't hear much about maine tell us about maine. john logan jones well made it is a beautiful place i love it people here are very friendly very independent minded history of maine is one independent thought you know back during the civil war maine was one of the few states that know if i had the fugitive slave act telling the federal government that no we're not going to capture escapes flames and and return them to the south so that's that's a history and i'm very proud of and i'd like to continue that independent streak as a legislator well speaking on economic issue is that of course is on everyone's

mind all over the country what's the situation up there in maine maine does have a debt burden we have about a billion dollars in debt and about nine billion dollars when you add in the unfunded liabilities our states g.d.p. is about fifty two billion a year so it's not. something like california's debt but the people in maine are not and from my experience with voters very much in favor of taking on a whole lot more debt you know we look at the we look at what's happening internationally across the united states with debt and it will get that it's not a good thing to borrow all that money and and so they're not really interested i brought something along the you know i know you can your voters if you are is a black hole of debt and i'm not interested as a legislator and throwing our future young mainers down to put it down or sucking me into the camera roll up up up up up up but you know people aren't interested in

doing that up your name very independent people very fiscally responsible people were very socially liberal i'm but when it comes to dollars and cents manners are very conservative. all right now john of course you mentioned you were in the air force a new pentagon report says that banks appear to be misselling student loans to the troops even though they have a special protections not available to the rest of the population forty one percent of troops have student loans so here is get into that area of the banks in the banks stirrers and a lot of the problems there as it applies to the military and the seemingly the banks don't mind who they victimize even the troops here thought well you mention the special protections and congress has created special protections for troops that take on debt i believe certain conditions if you're deployed you can put your interest payments on hold that sort of thing so on one hand you have the noble intent as we so often see government economic policy of helping the troops but i

think what it actually does is it entices troops to take on debt that they might not otherwise take off if you don't have to pay for it right now then it's more more often and that's it's a take on that debt so. sure you know the banks are going to take advantage of any special privileges given to them and and it is a special privilege to loan people with these you know special protections and and later on that's actually ends up being a reason that i find a lot of troops staying in is you feel like they can't get out of the military and have a wife and kids and they might have some debt and they don't there's not a very strong economy so a lot of troops end up staying in the military because they don't feel they can get out because their debt is holding them in well how is it different than iraq it. well i guess that it really is ok so as a military man do you like to see putting soldiers in harm's way as part of

a racket to satisfy wall street bonuses is it worth being killed in afghanistan to pay gone the sack bonuses. i wouldn't say want it that way but yeah there is it's a it's a tough situation over there there are a lot of troops that supported ron paul during the during the presidential primary here that the troops are are very much aware that these wars are not achieving the goals that the government say they're they were cleared for or they weren't really declared so the troops are paying attention but like i said you know economic factors keep them where they're at and so it's kind of top for them to speak out but we've seen a huge clamp down under the obama administration on free speech within the military you know any time the troops speaks up and speaks their mind and tells the truth about what's happening we've seen examples of the administration coming down pretty hard on. ok what about a third party to address these religious use instead of the social issues that keep

the population evenly divided into two easily manipulated voting blocks for the two corporate parties i think you know what i'm getting at here there is the two major parties seem to be debating and pushing forward a corporate led agenda and they seem locked in this. is there room for a third party in american politics we saw a little bit about with ron paul you mentioned ron paul is there any hope maybe of a really of a really strong third party element emerging in american politics i think there's certainly room for a third or fourth ari in the united states unfortunately the rules are written such that they keep the third parties out it's very difficult to get ballot access you know there's various ways that keep you know we're now there's i'm really happy right now this debate cycle there's been a lot of coverage of the commission on presidential debates which is a secretive group that decides who gets into the debates and they set the criteria and and their contracts are often kept secret so after the elections so. as far as

there being room there is i just don't see the opportunity for it on the national level party to get into the game because the deck is so stacked against them right john logan jones you were a delegate from maine to the republican national convention in florida tell us what happened well it was an eye opening experience to put it lightly i went down there as an elected delegate to represent the people of maine maine went strongly for ron paul our state convention we took all the delegates we won all the delegates went down there and various people in the group were ready to go out there regardless of the outcome convention support the nominee but what we saw down there was that there was a script written for this convention it wasn't true political convention. they had desired outcome they wanted it to go a certain way and there wasn't any. only for input from the delegates on the floor of the convention just for a minute aside for the viewers

a point of order is something that's a point of privilege for all delegates to be on the make a point of order at any time in a political convention and there were huge roar it's a point of order from the crowd that were just completely ignored so you know i'm a republican candidate i believe i believe in a lot of what the republican party stands for it was really unfortunate to go down there and see that the national party was more interested in putting on this this t.v. show so to speak then to actually have a debate about what the party stood for and and to allow all the nominees various candidates there to be have their votes counted so it was unfortunate but what really told me was that the change that this country needs is in coming from a national level and that's why when i came home i doubled my efforts and became a candidate for state representative because i know that the state and local offices are where the change needs to come from because the national level all six are too far gone and a lot of ways are a john logan jones i want to digress

a little bit and pick your brain on a subject that i'm sure you have some insight to being up there in may my understanding is that this year's lobster harvest has been enormous and primarily due to ecological. effects can you speak on that a little bit and i want to ask if you see that as a trend continuing in the future and does the ecology now have a permanent place in factoring in the states i go cultural business john well the lobster industry is huge and and right now i believe lawsuit is near all time lows in terms of prices and it has actually sparked a little bit of a. conversation a rivalry across the border of canada and i'm not a lot of cement so i can't speak to parts that details but i know that's a really important issue it's a very heavily regulated industry and if there's going to be there's. going to continue to be these sort of historic price levels then i would i wouldn't be

surprised to see more all the action at the state level of free market. prices and if there's a lot of lobster out there great i'd like people to be able to eat our main lobsters cheap. but yeah it's an interesting issue this is all time was all time lows for bob surprised it's been a leading indicator when when the price of lobster collapses the stock market has been not too far behind historically well i can't believe you just said that that sounds actually like breaking news you're saying that with every fall in love surprise it's a leading indicator you soon see a fall in the dow jones people are looking for what would trigger a fall the dow jones it could be this lobster harvest and this all time low price. all right all time low for lots of prices you heard it on a kaiser report direct from may all right john logan jones we're out of time thanks so much for being on the kaiser report thanks for having me max all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy

herbert i was i guess john logan jones going to say i mean email please do so at kaiser report at r t t v dot ru until next time x. guys are saying bye i'll. download the official application so 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. you know sometimes you see a story and it seems so you think you understand it. any glimpse something else and you hear or see some other part of it and realize that everything you thought you

knew you don't know i'm tom harpur welcome to the big picture. feel. the love.