if you. could take three. three. three. three. three. three balls video for your media project real down to our t.v. dot com. we're watching back to cap so i'm katie pilgrim but it's going to a.t.m. cell coming stage i speak to the brains behind the machine plus we check in at the frank mode to show and talk about them on the rocky road ahead companies to come as well as mr sean thomas saw in house investor he gives us a peek at his full idea but. today is the five year anniversary of the

biggest bankruptcy in history the a when the ruthless risk taking gravy buying capacity past the dow traders are standing there watching a major battle brewing or the worst day on wall street because we're married down forty three percent that it was happening wall street yes that was the catastrophic reaction to the destruction of believe in brothers the biggest financial blow since the great depression bought a home of a decade on the house the layman lessons been lugs what it seems the risk taken habits are hard to shade just lost it will street's biggest bank j.p. morgan chase last of a six billion dollars on credit default swaps which the bank tried to cover up there's also been accusations of improper and he tried in reports that the bank children of chinese officials to help with business on several cases of misleading customers on identity theft products and smoked. just as well all together these

legal disputes will cost the bank just under seven billion dollars a teeny tiny paid out for a bank with assets of two point four trillion dollars so now i'm joined by patchett young from t.v. advisors so patrick tell me have the lessons been lance fundamentally when it comes to lehman's i think we can safely say that nobody's learned the lessons from this escapade whatsoever government overall has simply missed the object they've ended up actually in the back pockets of the banks fundamentally the banks themselves haven't realised the fact that they have to change indeed if we're going to look at this from a big picture in history standpoint the thing that the collapse of lehman smart is the absolute peak power from now on it's the power of networks intermediating the banks that will challenge the financial monopoly government doesn't understand this the bankers don't want to accept it and have we learned our

lessons sadly not so is it the government's fault that the bankers have too much power. oh fundamentally i think banks have ended up in an incredibly toxic alliance with governments and that's a fundamental problem for society it's not that we don't need money we need money we need capitalism but we don't and we should not have a situation where any industry is fundamentally subsidized by the government and when it makes mistakes the government rushes in to help it the fundamental flaw of lehman and what came after it was this sudden massive industry whether in the usa or whether in the european union of bailing out the banks suicidal socialist politicians such as gordon brown in the united kingdom collectivize the u.k. banking system in a manner that was not on the jetson to stalin the only difference was at least in

the comrade stalin he would have shot a few bankers made these terrible mistakes in the first place the fact is nobody has brought the banking industry to him and the politicians noid or completely pliant and common pliant in allowing the banks to continue making the mistakes they've made for multiple generations and starving small entrepreneurs small business of the funds they need and if i go back five years to the lehman situation do you think it was handled appropriately it should talk about governments but the government didn't actually bailouts lehman's did a lehman marked a very very interesting and beneficial moment in so far as it was a lot to fester on the vine that was the one moment the governments were acting successfully the tragedy was the domino effect started to take place governments panicked very quickly how much money are we talking about then because it is quite mind boggling really how much money these governments have put into the banks how

much are we talking and will they realistically ever get it back is that just not going to happen i think it's impossible to put a sum on the whole amount of money but one. we're talking about is molten pools of the g.d.p. of a major european nation has alternately gone into the world banking system if not more before we start looking at this funny money corke of quantitative easing the governments of the world have spent hundreds and hundreds of trillions of dollars bailing out of decay and became a mode of system called banking when the solutions to the future of finance is peer to peer it's alternative currency it's like bitcoin and it's not actually going to be a banking system as we hard before two thousand and eight and bitcoin that lead to some to our next story here on venture capital said thank you very much indeed pat down from t.v. advisors always a pleasure you're welcome now a consequence of the financial crisis is the growing popularity of cyber current says basically the big question because they're free from central bank manipulation

and government control and now big clean a.t.m.'s are to be installed in cities around canada that's vegas based robo cohen is the company behind the scenes this move is being seen as a huge step to taking a virtual currency to mainstream status and breaking some of the misconceptions or even suspicions that surround the alternative coyer said to help me understand how the machines actually what i'm now joined by the c.e.o. of robotically now jordan kelly so good he can explain to me just in simple terms how do they work. you know the unfortunate thing about korea now is the problem is to acquire it. well we've spent the last year trying to solve it we believe we've solved it very well is by giving people the ability to instantaneously acquire bit or in their purchase with cash and simultaneously they

can sell bitcoin for cash as well as i understand it you have to already have a coin account and then you go into the mystery. it's not if we try to really simplify this right from the buying side of things you can go up to a machine without having a wallet and it will generate a wallet for you on the fly or if you already have a wallet it's as simple as scamming your mobile phone to send a big one that you purchased to your to your personal wallet from the sell side you actually do have to own bitcoin in order so bitcoin obviously so was the feature of the coin in your in your had that how do you envisage big going to be in ten years are we going to be going to machines getting out they kinds going shopping how's it going to walk. that's a great question and you know from where we look at where we look at that market we look at we look at what we can do to truly impact and benefit the country the world for that matter and we chuckle

a few simple problems the first is to make the acquisition and storage of bitcoin super easy and then the second is to make bitcoin easier than spending money where i see it i see so much value in but just because it is a truly decentralized no money truly decentralized programmable money that you know is authority agnostic and effectively it's the people's currency so you can't get behind that it's. now time for some corporate news them to get stuck in and talk about the relationship between russia and cyprus always been a close bond so much so that the bank of cyprus is getting almost sky make a buck six russians were elected to the sixteen member of the board of directors of . abu dhabi is planning to invest five billion dollars in russian infrastructure projects at the next seven years the move comes three months after another abu

dhabi funds move but dull up to invest one billion dollars in the country alongside russia's direct investment fund. and u.s. stock exchange the dow jones is having a reshuffle alcoa bank of america and hewlett packard to be removed from the down arm replaced by goldman sachs these are a ny case the decision is based on struggling stock prices and the desire to diversify the mix of companies represented alright let's now take aim with mr shawn thomas saw in house investor and see what you've been up to this week i was away last week in some pieces but i'm back now i want to know what you've been out well first of all when you left the weather got really cold and rainy you came back and it has been. but warmer so thanks for coming to moscow for us china is increasing its crude output which negatively affects oil here in russia or at least that's what i would say however china is increasing their overall production which means

it's good for the stock market so oil probably going to remain volatile for a while but i'm going to stay in and just kind of ride this one out because sometimes you've got to gamble right i'm figure i'm going to go for rough spots which is russia's agriculture company they're up one percent it's not a lot but i'm thinking looking ahead everybody needs to eat right oh yeah right and in fact it's looking at me i love to since i love to eat i love food i can do my own part in raising the stakes well you said it and i'm going to join as well because i like to say indeed affect. this weight engine of us get out for the franc more you to car companies but to out to win the race for the most impressive concept car that was the reynolds offering a vehicle with a map of paris roof with disco style interior as well citron the sea cactus with minimal modernization and air pump tunnels designed to protect from common scuffs and bashes that basically wipes away from the first hit wills and shiny bonnets the

issue of being stored in demand was far less glamorous job cuts whole to shed and increase manufacturing costs have plagued the car market the six years now i will be able to see how the european market has particularly been affected i mean you can see just hey you got it absolutely plummeting right there from two thousand and ten to twenty thirteen s last inhofe the car sales now europe for the full year as well as expected to be below last year as well so that trend will continue the rocky road so to speak as a result russia has come off has now overtaken germany as the biggest come market in europe you can see it's a bigger car than the span that demonstrates twenty six thousand cars now i spoke to the c.e.o. of sichuan at the frankfurt motor show earlier in the week to ask about the road

ahead. we're still forecasting european markets which will be down for their all year this year by about minus five persons having said that i believe that's we've probably hit to the bottom. we can see the green shoots. recovery in progress at least for us russia is one of our priorities of development as you said a it's the largest markets in europe and into the in europe the market has been extremely difficult since the beginning of the year extremely competitive as you know and rather in the recession situation especially in the segments where we are all which is the medium car calls having said that the most recent we had in russia which is the ok i would rickles see for. he's doing very well and we believe that it gives us an opportunity of growth at least in terms of

market share that fateful today venture capital all the same place same time. fans of the shocked your football club and kind of gonda kazakhstan believe that a certain special rich will help them achieve victory against the world famous scottish team celtic this ritual was sacrificing a sheep at the stadium as someone who lived in kazakhstan for two years i know there's a real meat eating culture with deeply rooted traditions in livestock racing so this news is unusual but maybe it's not completely bizarre for the culture of course defenders of animal rights who don't seem to realise that the sheep would be turned into people of the next few days anyways. demanded that you

a full officials punish the shock to a club for the actions of individual fans this is the same logic as if someone wearing a sexy tim kirby t. shirt went around robbing liquor stores i am not responsible for the actions of people like this program and it's not like i'd ever advocate robbing liquor stores and i doubt the shocked your management secretly arranged for fans to slaughter the sheep at the stadium when the slaughter of animals is acceptable to you or not well that's one thing but we don't need to regulate the morality of individuals of other countries via soccer especially if that regulation means punishing the football clubs who aren't responsible for the actions of individuals but that's just my opinion. choose your language. call it make it with zero in a financial crisis and. choose the biggest the consensus can.

choose to get to use the figure a crook. chooses to stories get him the. chance to get access to. welcome back now it would snowden has been put forward as a nominee for the prestigious soccer off human rights prize european lawmakers there sippin told the award is to be decided to take the subway it was dominated by a group of european parliament members say you risked his freedom to protect the

rights of others who murphy an irish m.e.p. from that group the snowden's chances of getting the prize the slim but it's not all about winning. will this nomination doesn't call unfortunately from the leadership of the european union who i think would certainly prefer to avoid the embarrassment of him winning the prize but it comes from the left in the european union which has consistently supported edward snowden and he deserves to win the prize because he's a hero and he's a hero for putting his freedom on the line and it's still on the line in reality and i think he's only likely to win and i think the greens are the green group inside the parliament also support edward snowden and but i fear that certainly the big groups will not wants the so-called embarrassment of choosing edward snowden because of the impact that that would have on relations with the us the reason you know a very practical reason that we're proposing.