interview these fifty people does the law require that i actually interview each and every candidate you know everything if it gets to the point where the somebody is the collective very qualified we ask them to have the manager of this specific position step in where the ball faces with and if necessary suspension and interview this general process to find a legal basis to just fall find them for this particular position that whoever was displaced workers yourself or whatever talk with this the fact that i'm thinking this means the answer is either no or almost no. i can't offhand remember. a case you know we professors tend to be ivory tower types. what they've done for the last twenty years is destroy the ability of people who work hard play by the rules to decent retirements big business was not satisfied

with just outsourcing jobs and getting huge tax breaks to increase their profits. also set their sights on eliminating guaranteed pensions. to iona i don't even know what they are. in the one nine hundred fifty s. . stuck it's marketed like another consumer item at the same time pension funds was going to change why for example should a company have to put away that kind of money. as a liability to pay off its retired workers when instead they could take some out of the paycheck every week and then make you go into see yourself. and that's what they did so why not put your money to work. put my money to why that's right. you come over the share of american business you know there's a joke that compensation executives tell each other what's a four letter word that starts with naff ends with a k.

and stands for screw your workers for a one k. for one changes are a subtle kind of pay cut and they're bad economics. defined benefit pension plans were on top of your salary that made you work for a company for thirty years or so you were tired you knew exactly how much money was going to get paid out of the pension because the company kept this pension fund and kept enough money in it to pay you well under a four one k. plan you have to save money out of your paycheck so you have less money company may give you a match but these plans typically save a company fifty percent or more in the plan. then you assume all the risks of investing your money if the average person. could manage investments then why in the world would be paid the gigantic salaries that they do want wall street.

today state governments are beginning to shift public workers and shins before a one k. plan it's. their photo that they were being made. here with at least government workers go further in maybe i'm going to hire that a social security. and. that i'm here to support the social security benefits that my parents get and i'm here to support the social security benefits that i hope to get and my children hope to get social security is not just every tired man benefit it's a three tier benefit so it helps millions millions of seniors stay out of poverty

and live a decent life in their retirement but it also helps disabled people when disabled people need our support as a society and helps them function and just as importantly is the survivor benefit so that if working people are killed unfortunately in some circumstance their children will have a source of income. the. the . the greatest pieces of idiocy ever suggested privatizing social security. why do just with pensions if it works for pensions take the whole social security fund the one element of the new deal reform plans and still remains and put that in the stock market this had been a goal of the anti franklin roosevelt anti new deal conservatives from the 1930's already it actually came as pros lee close to happening as it ever could have

under the presidency of george w. bush. the economic president i think he calls himself your younger worker i believe he should be able to set aside part of that money in your own retirement account so you can build a nest egg for your own future. under reagan the mandated gend included not only deregulation of main street industry but the financial industry as well this set the scene for a future disaster on a scale previously unimaginable starting with the hundreds of savings and loan bankruptcies of the late one nine hundred eighty s. the financial razzle dazzle that thirty years later takes down the economy really starts when wall street starts inventing all kinds of new gimmicks and the regulators give all this stuff a free pass. everything and ghouls you know baseball has

rules right down to company stitches are on the baseball. and when you remove the rules you enable people who behave badly the purpose of rules is not to regulate sites it is to deal with people who are sinners. once wall street was deregulated their profits mushroom large commercial banks like citicorp watch with envy and in the mid one nine hundred ninety s. they too began fierce lobbying to get their slice of the. thirty three congress passed a law called the glass steagall and that was said well you know it doesn't take a genius to figure out if allowing values to invest in speculative security brings down the banking system in the market fails then maybe we should do it it was very simple it maintain the commercial banks that were responsible for individuals deposits and savings and lives were kept separate and were backed by the government

from the more speculative risky trading activities of the investment banking community it works so well. the people forget. and in one thousand nine hundred nine a genius by the name of phil gramm aided by a brilliant president named bill clinton used the bill and pushed by a free market ideology that had been pedal to the united states people since the day ronald reagan was elected said we don't need glasses legal anymore we haven't had bank panics glass steagall was the longest lived and most successful on actual law ever passed protecting consumers and investors a lot within a year of glass steagall is repealed in one thousand nine hundred nine president clinton signed the deceptively named commodity futures modernization act the regulating shadowy financial products known as derivatives one of those instruments known as the credit default swap became the prime culprit in the two thousand and

eight worldwide financial crisis the head of the federal reserve bank at the time alan greenspan endorsed these changes giving the green light for wall street to once again become a casino was alan greenspan was an extreme conservative and there was a period you know in the ninety's when greenspan was widely praised as the genius and he got out just in time he got how much just before the crash and his policy of deregulating everything and financing all of this speculation with very cheap money that's going to look a lot worse in light of history than it did at the time he wanted to give wall street really a gift at the time which was cheaper money which is why he cut rates and all the speculators take advantage of the very cheap money and they invent a whole bunch of new toxic stuff like sub prime in the last ten years something crazy happen a multiple of the value of housing to people's incomes went through the roof and

that was a classic case of a speculative bubble and this was engineered on wall street because there was so much trading their appearance. be a demand for mortgages which meant it appeared there was a demand for homes being sold which inflated the actual cost of homes there was some sounds that well maybe even if it goes down we won't be the last company holding the bomb wall street chief executives hundreds of millions of dollars for screwing us up. being our money we pay them a huge premium for this reason boy these are really smart dots in a spark guys you and i would never have made those worlds. where do you think you made a mistake that i made a mistake in presuming that the so for interest of organizations specifically banks and others for such is that they were best capable of protecting their own

shareholders and their equity in the firms the consequences of this mistake are huge again it was an accidental this wasn't just random delusion it was prevalent because so many people were making so much money as soon as the casino cause biased they want government to bail them out now that's not a free market but that socialism on the downside and capitalism on the upside if greenspan and ruben had really believed the ideology that they preached they would not have bailed out the s n l's the way the greenspan did they would not have ruled and would not have bailed out the wall street holders of mexican bonds in one nine hundred ninety five greenspan would not have bailed out the stock market in two thousand and two thousand and one the only explanation i can have for this is that

it's a class question these people were protecting their class. wall street and the wealthiest one percent now tell us that government is running out of money they want us to believe that social security and medicare cuts are needed at the eligibility age for social security should be increased to seventy. permit me to start with one number. fifty three trillion dollars in today's dollars is what the country owes the cherokee. between our future liabilities our national debt and our huge unfunded promises. programs like show security and medicare the peterson and the concord coalition come in and say oh my god we've got these enormous deficits instead of focusing on the cause of the deficit which are the

reagan in the bush tax cuts they then say we have to take an axe to all of these middle class and time and programs. i would rather ask questions for people in positions of power instead of speaking on their behalf and that's why you can find my show larry king now right here on r.t. question more. i'm not used to the tundra to freedom i am my dear.

in second grade i ran away from the boarding school with to my friends will be around to the tundra was coming. to the tundra is just an escape doze a threat because i don't know how people can live there to get in there no t.v.'s in the tenth how can i send my child to boarding school i won't be able to sleep at night after that. they enter a life without knowledge of how to do basic things they don't get that in school. choose your language. of choice because without the financial system still some of . us i met. choose the music the concerns get to. choose the opinions that invigorating a good mind. choose the stories that in high life choose the access to

your office or. you. peter g. peterson a multimillionaire who was one of the founders of blackstone which was

a private equity company he gave a billion dollars to set up the peter g. peterson foundation which hired the former head of the g.a.o. government accountability office a man named david walker it's the price we go around the country and crusade for the idea that what is wrecking the economy is not people like me mr peterson but what is wrecking the economy is so security. we are trying to convince these eighteen people that social security is solvent it is not affecting the gaps it is not the way to solve the debt the way to solve the debt is to create more jobs.

i think we're in a situation now where i have where i have to modify my philosophy. a little bit and maybe maybe a lot i'm just been totally out as the guy comes up and says i'm going to do away with medicare i will campaign against him like you have never seen because i'm a beneficiary. of medicare the guy who wants to get rid of social security i put a whole lot of money in those social security i want mine back. and i'll tell you what i think and it may be going out on a limb on this but i think that the obama administration is very worried about what we call a capital. a strike of capital in the sense that if you really push these gods to halt they can say oh really you don't want us to get bonuses you want us to be accountable you want to know about our illegal behavior well tell you what we're going to do we're going to freeze

a credit completely your column is going to go tank and good luck to you mr president the big banks can make such threats today because they operate with no fear of criminal penalties folks who are in charge of running the economy ran a red light after red light actual red light and caused car wreck after car wreck after car wreck and no one told them accountable for hasn't even had a conversation about accountability in two thousand and five the u.s. supreme court stacked with pro corporate justices overturned a conviction won by the justice department against accounting firm arthur andersen implicated in the enron scandal now incredibly the government tells companies to police themselves the justice department's current position is that a company can escape criminal prosecutions if they just promise to change their behavior. as of two thousand and eleven not one corporate c.e.o.

thank you executive or politician has been criminally prosecuted for crimes leading to the economic meltdown of two thousand and eight if you really did the investigation of the democrats would not be able to simply say always those george w. bush it was him well you know what it was a lot of bush. but i'm afraid the republicans will be able to say sorry not just last take a look at robert rubin secretary of treasury under bill clinton and all of the ruben guys they were working with alan greenspan they were working with phil gramm to deregulate all of this stuff so you got true bipartisanship everybody wants by bob is a you got it. and the memory of what a waiting game shrine in this country is some kind of a great leader is a crime. and the memory of any of the republican leadership or the democratic leadership for that matter over the last twenty five years being as anything other than conspirators in the theft of america is

a crime similar look at the we didn't actually clean up wall street we actually didn't slay the beast but we actually put them on life support and they've been off feeling in mending themselves and doing quite well. for thirty years we've been purring up to keep on average americans slowly and it's been turned up at such a slow pace that if you say this is a crisis people look at you as if you're weird when the majority of the american public can no longer feed their families what do you have a crisis and that's where we're headed we don't want to see our way of life we don't want to see our standard of living decline. that's what's that chris.

what we've seen over the last thirty years is a deliberate transfer of wealth from middle class and the forward to the very wealthiest people in our country the. game is fundamentally rigged and that ordinary people who do everything right play by the rules still end up with the short end of the stick. i don't think people get understand how low incomes are in america from work. one third of jobs in america pay less than fifty thousand dollars a year now that includes part time workers and people with two small jobs but half make less than twenty five thousand and three quarters make less than fifty four thousand and ninety nine percent make less than two hundred fifty thousand dollars . in reality working americans have been pushed to rely on credit to make

up for the lack of growth in wages even as corporate profits skyrocketed wages have stagnated since one nine hundred seventy three despite increased worker productivity instead but the benefits of americans hard work have gone to executives and shareholders. everybody was shocked by hurricane katrina and by the you know these images of poor african-americans and other people abandoned still you know stuck on rooftops waving american flags for two three four days holding babies without a drop of water without the u.s. government of the richest country in the world being able to get them a scrap of food after three four five days people were shot. and it was shocking but what nobody wanted to address was it was a logical necessary inevitable outcome of thirty years of public policy that both parties and championed saying if you're poor you're on your own if you're poor

sink or swim. and it's better for you it's morally right that we won't help you if you're poor you should pull yourself up by your bootstraps and if you can't cut it you should be left to sink or swim. your wife passes and she's had a heart attack on the flu you can call the local government and you expect the local government to do something dumb that's not evil government is sometimes in top and i think government is on responsive government isn't how to it and sensationally tight mandate the government can do things that private citizens cannot do. going to primary. people. there's no. problem if we've paid if we had great just place they can be

accomplished then fine but i don't think recruiting by the government it. creating the kind of good we would create the emergency in the. well we did all the great things that we did in this country we did it as a matter of national security and collective self-interest so you look at look at the the railroads you look at the interstate highway system you look at the internet you look at any of the things that really fundamentally changed the way our economy worked it wasn't. fundamentally a market basis. there are only two kinds of power in america there's organized money and there's organize. one thing is really clear that powerful corporate interests have had a good for so long they're not going to let go without a fight and i think that we have to be very clear about that and ready to fight

back and i say we fight back with organizing we fight back with good policy we fight back with with strategies that are about achieving victory just people who do the work we're not the privy in. the problem is the political system the trying to divide us the political system that's given tracks breaks to the rich and the old term rich but they don't damn well be that. empty. think to. say. to me what the american dream was about more money isn't what the hope is and it is that people get to live up to their full potential you get to create your ideals and to me that hasn't been lost

what's been lost is the part of american dream that was this sort of white picket fence two point five kids and some big s.u.v.s the driveway you have to recast what that means now that much more inclusive dream and vision about what it is time to be in this country to making a life in this country there's an opportunity to reframe the american dream. one of the things that faces americans is to build something beyond traditional capitalism beyond traditional socialism that is american and character the builds an unbelievable american tradition. that. the question will be asked and the question will be answered what kind of species we. are we locusts just are a curse on the planet we're busy we're working but what we're doing is so heedless and so destructive we leave with nothing but disaster on our wake or we honeybees

honey bees work hard too but they fit in with the ecosystem and they actually are a blessing on the planet they're a blessing to all creation because their work actually makes more life possible now and that's our challenge just as a human species to be anybody. coal. has made. me so. please. try. to. build.

a. bridge. to read. the civilized world produces more food. people die of hunger in other countries.

millions of victims every year. the most. it's flood or droughts to blame. it was a bad year without a train. we couldn't clods anything. but there was great hunger. that. was it that help comes too late and without good intentions. charity diplomacy and business want to live in. a. mission free accreditation free. free. free. free. free.

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cleaned. you know sometimes you see a story and it seems so 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 charming welcome to the big picture. was that it was.

a huge flocks and after they believe in presidents just had grounded on such a lot by last american leaders i could nothing under humiliation for the entire continent. if you need those seem to do the bidding of the united states of america which infringes on national sovereignty and does leave the country to be a colony of greater political power that raised over europe and being nothing short of washington's puppet. and also this hour changing all begun to celebrate says the former egyptian leaders fall from grace one dollar arrested as the standoff between the islamists and the army results in new clashes.