the big picture marvin coming up in this half hour while the u.s. government mulls over increased regulations on wall street part of the financial industry is ovoid in scrutiny and raking in trillions of dollars in the process what's behind the big bad world of shadow banking and what can be done to expose and karl rove apparently has a new enemy and they may have made him look like a fool on national television i'll explain who and why is that i was deleted.

in the best of the rest of the news the shadow banking system runs the world a new report by the g twenty six financial stability board finds that the world's shadow banking system has grown significantly and is now worth more than sixty seven trillion dollars the shadow banking system is a largely unregulated debt based market for complex and for complex and often risky financial instruments since two thousand and two the shadow banking system has nearly tripled in size and is the day worth roughly half of all bank holdings in the world it's also bigger than the entire globe's g.d.p. and a twenty three trillion dollars the united states has the world's biggest shadow banking system this is what's replace good old manufacturing and the creation of actual wealth here in the united states we now have an economy dependent on banks toure's

manipulating money. so what do we do about it richard asco joins me now he's a senior fellow at the campaign for america's future richard welcome back good to be back tom so what do we do how do we how do we rein in the shadow banking first of all let's define terms what is the shadow banking system where shadow banking is any form of financial transaction that isn't conducted by a bank using normal bank processes so it could be a hedge fund it could be an investment fund a money market fund a.i.g. was an example of shadow banking goldman sachs shadow banking a lot of different ways that people conduct bank like transactions but without the regulations of the rules or the other conditions that should apply to a well managed banking system did in large part did this emerge out of phil graham's efforts on behalf of his wife wendi when she was on the board of directors

of enron to deregulate the commodity markets with the commodity futures modernization act in ninety nine or two thousand. that was a huge contributor to its growth and it continued to grow enormously from two thousand and two for example when warren buffett called the rivet is instruments of mass financial destruction up through two thousand and seven now not all derivatives of shadow banking but a lot of them are this whole market has grown everywhere worldwide and here you know in europe as they've been experiencing austerity and uncertainty their shadow banking system has exploded and again this is you know i call it the dark matter of the world's economy it happens under the radar people don't track it and there isn't even the minimal reporting requirements we see in banking so we believe it's sixty seven trillion based on this latest study but as the authors admit that may be a low number if anything half the assets of the world's banking system are in this

unregulated rwanda regulated shadow banking system and growing so it's a huge concern richard in two thousand and eight as the banking system was melting down we were hearing reports that the that the the amount of the number of c.e.o.'s and what had the sickly the dark matter out there that you're describing was in the hundreds of trillions that i heard numbers six hundred seven hundred eight hundred trillion dollars mind boggling amounts of money much of that one away in the crash is was it really that much and why is it not that much now and and is the amount that it is now whatever that may be enough to require ash the system well you have to distinguish between assets which is what this number represents and exposure or risk for example this shadow banking system globally they estimated sixty seven trillion dollars but the exposure for j.p. morgan chase alone is which is

a bank of course but which engages in some of these markets is seventy to one hundred trillion dollars so the level of risk is enormous and yes there's no question that it could cry. the economy and called cause all sorts of disastrous consequences so the answer is look the numbers are huge. being under the radar they're hard to track they're growing and we're not doing anything really to regulate them control them or to stop this excuse there any effort to do that is anybody leave well in charge of that not really i mean i think now what we've seen is you know as as you and i have said before dodd frank was if anything at all in a very minimal first step towards the kind of real reform we need and everybody seems to be engaged in defending don frank rather than moving forward with this this kind of reform and to get back to your earlier question of course. the actions of the one nine hundred ninety s. played a huge part and in this growth but it's growing again you know i mean the crash of

two thousand and eight did almost nothing to slow the growth of this market in this country around the world it just kept going and going and going and it will and till somebody steps in recognizes the danger and stops it is this you know elizabeth warren is very bank savvy is this one of the topics that she has talked about and if so do you expect her when she's installed in the senate to become a spokes person to solve this problem. well i would she certainly say she will be and i believe her and i think she should be appointed to the senate banking committee for one thing where she can really have some say an entire you know when jamie diamond of j.p. morgan chase went in front of that committee only two of the senators questioning him hadn't received campaign contributions from j.p. morgan chase and elizabeth warren on that committee would make it three and she would be the most knowledgeable and aggressive person there and digging into these matters so i would urge harry reid and anyone who has influence with harry reid to make sure she's on that committee and yes i i look forward to her contribution in

the senate this is this is a serious problem that congress does need to address richard asco thanks so much for being with us tonight from los angeles my pleasure. so sometimes you know what you know and sometimes you know what you don't know and sometimes it's the firesign theater says everything you know is wrong. i know that you are what you are your right. to say that you're. not really doing you know it's wrong. when you hear the words psychopath what do you think of probably some brutal serial killer who is out of his mind right what if i told you the psychopaths can function at extremely high levels and succeed in all of us of society if you think a psychopathic tendencies and success have nothing in common and everything you know is wrong joining me now is kevin dutton author of the new critically acclaimed book the wisdom of psychopaths what saints spies and serial killers and teaches about success kevin welcome. i'm fine what is a such

a functional psychopath. you know it's true isn't it as soon as the word psychopath is out saw images bundy and jeffrey dharma and all those other kind of serial killers come creeping across our minds but actually when psychologists like myself talk about psychopaths we're actually referring to a person with a distinct set of personality characteristics characteristics such as. fearless nurse ruthless nurse kooris under pressure focus and of course that trademark lack of conscience and empathy not notice i haven't said violence there and notice i haven't mentioned intelligence either know if you've got those traits that i've just mentioned and you happen to be naturally violent and you also happen to be naturally stupid then your prospects my friend don't really going to be that great you're going to or wind up putting up all over someone's head or stabbing

them in a bar you're going to end up in prison pretty quickly but if you have that constellation of traits i was just telling about and you are you happen to be intelligent and also not plan and then reuters the famous headline once put it you are morally in a made. killing in the market than anywhere else that we're talking about extinct sort of personality characteristics here there was an article in believe it was business week or it was one of the business publications about a year ago that suggested that psychopaths were overrepresented in the banking industry. because you know it's one of those industries where you can destroy people's lives and. these people apparently can do that and then go have a look of cells in the mirror and sleep well at night. yeah what it is true last year i conducted a survey called the great british psychopaths we're now running running it out in the states right now in which i wanted to find out what new kaseman psychopathic

profession wants so participants were directed on to my website they completed a special questionnaire and they were given this score their psychopathic score but they also had to enter their employment titles we had over five and a half thousand responded within the first three weeks of the survey and the results very interesting the top ten psychopathic professions churned out what c.e.o.'s actually turn now to the number one on the list and not too great for you guys i'm afraid radio and t.v. guys were also pretty high up there we had surgeons we lawyers put in so rather surprisingly we had the clergy we had church people up there about number seven or eight not surprising really when you look back on it because what we find is that like a press chain to sell in any kind of profession where there is a power dynamic where there's an organizational hierarchy where they can wield control and manipulate others and where they can play fast and with the rules and

to be honest i would put it crudely the church isn't that different in that respect to any other business your book is titled the wisdom of psychopaths is there anything positive the comes out of this and and is that is it is this genetic or learned to let. let me answer the first part of that question so yeah if we take the psychopathic out of the clinical and. we find that psychopaths have quite a number of positive characteristics they are a search if they don't procrastinate they look on the positive side of things they don't take things personally when things go wrong they don't and so when things go wrong and they're very cool under pressure to do so those are the kind of positive traits that we can take that all of us can can can benefit on from in the course of our lives is sure to cope with the genetic or is it learned well it's a bit of both it's a new subdiscipline called the genetics now which is

a branch of genetics which looks at how the. switches on various occasions that we've got there's a roughly about a fifty percent of genetic input into psychopathy put we need to know how the environment switches on their nodes genes need usually of a foreign or a usually for traumatic childhood or events in those formative years in their childhood which switched to killer genes or various and kevin dunn thank you very much for being with us tonight absolute pleasure thanks for having me thinks now everything you know about psychopaths and success is right. coming up remember on election night when karl rove question fox news this call that ohio had gone for president obama well it turns out a hacker group extraordinary anonymous may have had something to do with that and tell you how anonymous might have taken on the rove machine inside the daily take. out.

you know how sometimes you see a story and it seems so for lengthly you think you understand it and then you glimpse something else and you hear or see some other part of it and realize everything you thought you knew you don't know i'm tom harvey welcome to the big picture.

here is mitt romney trying to figure out the name of that thing that many americans call a donor. i'm sorry i'm just a guy who cares an awful lot about what use our own are through you know what kind of mind their terrorist cells in your neighborhood all want to give us a defeat terrorism be on limbaugh and the christian point you. can see your beliefs about it because it's going to support you to distract us from what you and i should care about because they're profit driven industry that sells a sensationalistic garbage he calls it breaking news i'm out here martin and we're going to break that.

it's the good the bad of the very very. closely ugly the good message is this governor deval patrick democrat. this is set to allow undocumented immigrants under the federal deferred action program to pay in-state tuition of the bay state's public universities governor patrick will direct the state board of higher education to grant in-state tuition rates to any student who has a work permit as directed will take effect immediately will greatly lower the cost of higher education for immigrants to for example you mass amhurst currently costs nearly twenty seven thousand dollars out of state students around thirteen thousand dollars for in-state students years to go to patrick for allowing undocumented

immigrants in his state a chance to improve their law is the bad senator john mccain last week we told you about senator mccain's leadership role in the benghazi witch hunt and his attacks on u.n. ambassador susan rice well on c.b.s.'s face the nation sunday mccain not only swore to block rice if she's nominated to be secretary of state but said he wouldn't support any nominee to go as. under the present circumstances i don't until we find out all the information as to what happened i don't think you could want to support any nominee right now while mccain might be willing to politicize been gazi to its fullest potential his colleagues aren't multiple republican lawmakers have denounced mccain's efforts to block a possible rice nomination you know i think someone still grumpy about losing in two thousand and eight and the very very ugly the alliance defending freedom or the so called itself the anti american a quality. group is encouraging local officials in maine maryland and washington

who refused to grant marriage licenses to same sex couples even though marriage equality is now the law in those three states legal memos from a.t.f. argue the town clerks can delegate the responsible. with these two assistants so they don't have to violate their faith their conscience bottom line is that marriage equality is now the law in these states and yet the a.t.f. is encouraging government officials to ignore the law and rely on their religious beliefs instead and that is very very ugly. around eleven twenty five pm eastern standard time on election night karl rove knew something had gone terribly wrong minutes earlier fox news called the key battleground state of ohio for president obama sealing his reelection but as the

network took live shots of jubilant obama supporters celebrating their victory camped outside the obama reelection headquarters in chicago karl rove began building a case against that call that his employers network fox news just made we've got to be careful about calling things when we have like nine hundred ninety one votes separating the two candidates and a quarter of the vote you have to can't. even if they have made it on the basis of of slick precincts i'd be fairly cautious about intruding in this process rove was supreme really confident that the numbers coming in from ohio throughout the night that favored president obama were not indicative of who would win ohio when all the votes were ultimately tabulated by that state's computers with a quarter of the votes still out there rove was anticipating a shift to the right just after eleven pm which coincidentally is exactly what happened in two thousand and four. that here john kerry and the entire nation

especially karl rove are watching ohio just after the eleven pm hour florida had just been called for george w. bush and according to the electoral college math whoever won ohio would win the election and considering the exit polls from the state showed john kerry with a substantial lead no i'll there were a lot of tense moments for karl rove and the republicans that then the clock struck eleven fourteen pm and the servers counting the votes in ohio crashed now election officials in ohio had planned for this sort of thing to happen they had already contracted with a company in chattanooga tennessee called smart to act to be their backup their failsafe should the ohio servers crashing go down as journalist craig unger lays bare in his book boss rove smart tech was drenched in republican politics one of the early founders of the company was a man named mercer manolis who used to who used to be the finance chairman of the

republican party a smart text top client was none other than the bush cheney campaign itself and smart tech also used to do work for jeb bush and the republican national committee and it was ohio's republican secretary of state can blackwell who made sure that smart tech got the contract to count the votes on election night if the ohio servers crashed which they did at exactly eleven fourteen pm. sixty long seconds later the servers came back up in ohio but now with the vote rerouted through smart tech in chattanooga and bush's prospects for reelection were suddenly a lot brighter the vote totals that poured into the system from smart text computers in chattanooga flipped the exit polls on their head believe that john kerry had in the exit polls had magically reversed by more than six percent something on a herd of in any other nation in the developed world giving bush the win in ohio

and thus the presidency for another four years under further explains in his book that the only independent analysis of what happened in ohio was done by richard phillips and published in the book witness to a crime philips and his team analyzed more than one hundred twenty thousand ballots one hundred twenty seven poll books and one hundred forty one signature books from ohio's twenty two thousand and four election philips found zero irregularities in vote totals from all the counties that reported results before the service crashed at eleven fourteen pm but of the fourteen counties that came in after ohio's election computers were reset by smart text computers in chattanooga at eleven fourteen pm of the ones that came in after that every single one of them showed voter irregularities and all of those irregularities favored george w. bush for example consider cleveland's fourth ward in two thousand al gore won

ninety five percent of that vote. in the fourth ward in that ward but in two thousand and four the county reported its results after the eleven fourteen pm crash and it showed that kerry had only won fifty nine percent of the vote a thirty five percent drop without any explanation there were several other abnormalities across ohio's post server crash that accumulated to deliver that state to bush john kerry never protested the election and to this day these two thousand and four voter an abnormalities have never been addressed so the question is on election night this year when karl rove was protesting the call his network had just made no i'll was rove anticipating a wave of unprecedented vote totals to swing the election back to mitt romney after a statewide server crash just like happened in two thousand and four perhaps he did make the point that the race was about to drastically narrow according to the secretary of state's office and as the free press reports a number of odd similarities with two thousand and four began occurring in ohio

this year just after the eleven pm hour pm hour once again free press writes curiously the ohio secretary of state's vote tabulation website went down at eleven thirteen pm as reported by free press election protection website monitors and mentioned by karl rove on the news this was one minute earlier than the time on election night two thousand and four when ohio votes were outsourced to chattanooga tennessee and then the vote flipped for bush this time the cuyahoga county vote that would be in cleveland tabulation site went down as well on election night only this time when the servers came back up the votes never flipped president obama's lead held and he went on to win while karl rove and mitt romney watched in slack jawed amazement we know that there was a parade of conservative talking heads in the days before the election predicting a landslide victory for mitt romney is because they lived in a bubble lacking pollster nate silver's facts arithmetic that actually showed the

president winning a landslide. could it be that rove's election night freak out was just the result of this say about election day ignorance held by all republicans or was rove genuinely shocked by what he was seen because he knew the fix was in just like in two thousand and four and there was no way president obama was going to win reelection and if that's the case why did his plan to steal the election not work here's where the story gets really interesting just a few days before election day the hacktivist group anonymous issued a video statement against karl rove anonymous is notorious for numerous cyber actions against the justice department the pentagon the recording history of america the motion picture association of america even the church of scientology took down in a video released prior to election day anonymous warned the karl rove that he was being watched karl rove american crossroads we are anonymous we are watching you we know that you will attempt to rig the election of mitt romney to

your favor we will watch as you are married band of conspirators try to achieve this overthrow of the united states government we want you to know that we are watching you waiting for you to make the mistake of thinking you can break this election to your favor we want you to know that if we catch you we will turn over all of this data to the appropriate officials in the hopes that you will be prosecuted to the fullest extent of the law. we are then just two days after election day as the republican party was in full blown despair and karl rove is trying to figure out what's wrong anonymous released a press statement claiming that they did indeed prevent an attempt by rove to steal the election from mitt romney the statement reads we began following the digital traffic of one karl rove after a rather short time we identified the digital structure of karl's operation and even that of his orca this was an easy task in the barn doors were left open in the windswept us inside the orca that anonymous is referring to in the press release is

a massive high tech get out the vote system created by the romney campaign this year that was supposed to keep tabs on potential voters and coordinate with operatives to target who ad and who ad and voted on election day romney's communication director gail good show had this to say about orca. at five o'clock when the exit polls come out i doubt we'll pay attention to it because we will have had much more scientific information just based on the political. operation we have . and in other words orca should have known who won ohio better than any exploit exit polls could've predicted but according to anonymous orca had little to do with getting out the vote and everything to do with the rigging the vote as they claim we coded and created what we call the great oz of targeted password protected firewall that we tested and refined over the past weeks we place this code on more than one of the digital tunnels and their destination that carl's not so smart worker bees plan to use on election night anonymous alleges that these digital

tunnels were leading to servers in three different states not just ohio the release goes on to detail what happened on election night as rhodes operatives attempted to access these tunnels carls speared karl's spirit orca whale was breached rotting with a strong stench across his playground unable to be resuscitated we watched his car as weak corruptors repeatedly tried to penetrate the great oz these children of his were at a loss how many times and how many passwords did they try exactly one hundred and five so might this have really been the reason for karl rove's shock on election night under the guise of a sophisticated get out the vote operation and rove in the republican party actually built up a massive system to steal the ohio election just like in two thousand and four only to have a war to the last minute by a group of computer hackers if this is true and the implications are enormous and could take down the entire republican party and finally wake americans up to the fact that our privatized vote system is shockingly flawed and in secure. in an

era of international internet lose and digital false flags we must demand proof for these sort of claims made by anonymous given karl rove's history of elections in ohio anything is possible and that's it for tonight don't forget democracy begins when you get out there get active tag your it sort of. culture is that so much about the taxpayers and i mean to say she gave me a lot of people an area china has successfully transitioned itself to another leadership change the last decade has witnessed this country transformed at tremendous speed. the mission. couldn't take three years for charges free arrangement free. three stooges free. download free blogs just plug in

video for your media projects a free media dog our teeth dot com. you know sometimes you see a story and it seems so silly 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 harpur welcome to the big.