welcome to the kaiser report imax kaiser a couple of hundred years ago sir thomas moore wrote. you would abandon ship in a storm just because you couldn't control the winds well america ain't no utopias to tommy stink the wind is blowing and the corporate rats are abandoning ship this is right stacy yes max we've seen these tax inversions where u.s. corporations no longer want to be american citizens because remember they have personhood there they want to become british citizens and you know pfizer of course tried to buy the british company astra zeneca and one hundred seventeen billion dollars bid that was rejected by astra zeneca shareholders here in the u.k. but they're still trying pfizer c.e.o. still hunting for deals and willing to go big this is c.e.o. ian reed and he says there's no substantial advantage to being a u.s.

company to doing business in the u.s. we are at a tremendous competitive advantage if that's not a sign of end of empire i don't know what is you know it's a shocking headline for him to say there's no upside to being an american company and it goes it's the reality of the situation that there is no upside to be an american company there is no upside to being american that's why a lot of americans are trying to get rid of their american passport the whole idea of america as offering something special is could put the c.e.o. of pfizer saying this they know there's we took everything we could take we extract it all the the infrastructure gains and the subsidies and now there's no upside left we've chewed all the meat off the bone so we're going to leave and i think a lot of people are coming this realisation that the myth of america is finished and pfizer a major corporation personifies this they're basically abandoning america and so are a lot of corporations and so will half the population be clamoring to get out of that

health hole a tweet from wall street journal sounds very similar to what you just said this is from matthew dalton of the wall street journal he says us once went to war to escape british taxes now you. yes companies are moving to the u.k. to pay them part of the reason why the tax rate by the way in the us is so high because it's thousands of pages long because of the likes of pfizer's because of these huge corporations that have lobbied government over the years and they like that complicated tax code because they managed usually to get zero percent tax rate like g.e. or you know i think goldman sachs paid something like eleven percent it's a tax apartheid you know that huge tax code is again meant to keep the rich richer the poor poor if you if you can afford the lawyer to escape the taxes then like general electric you pay zero taxes pfizer is abandoning america because they don't want to pay taxes in america and the quote from the c.e.o. pfizer there's no upside to being part of america in ordinary times that would be

considered treasonous and of course you'd have to walk the plank or. you know be facing charges of treason he's saying that america after all the subsidies after all the infrastructure build out of all the tax benefits after all that's been given to the folks at pfizer they're saying thanks so much we're we've thanks for giving us all this time we want to abandon ship we want to go to somewhere else and of course they'll be here in seoul the u.k. is forced to do something in their tax code and they'll move somewhere else so these are mercenaries it's effectively pfizer our corporate reverse in areas are gun for hire they don't do any good at the end of the day they allow for geriatric old men like the c.e.o. pfizer to get a woody so that's about all that they've been able to accomplish and they've given old men hope other than that they're just tax voiding corporate mercenaries on top of this this is a company pfizer which first of all their products like vi agra go for fifty

percent discount here. americans pay twice as much and yet they still even though the fact that americans pay twice as much for their pharmaceuticals they're abandoning the americans and we remember what happened a few years ago that we covered the story keel over says new london well this is where pfizer's headquarters are member they forced people out of their home using eminent domain the supreme court ruled in their favor to force people out of their homes because they said this private corporation would do a better job than these people living in their homes right in new london along the sea that they would force them out and turn this into some sort of pfizer campus blah blah blah well that's nothing's happening with that all these years later and pfizer is abandoning ship after their u.s. supreme court forced american citizens out of their homes for pfizer and this is what's interesting stacey is that we're entering into a world war three period at the moment and america is entering into a new cold war that at a minimum but possibly

a new world war and people who work at pfizer who live in america will rely on fellow americans to come to their defense as part of this war but because they've abandoned america because they've basically told americans in contempt there will be no one coming to their defense so when these other countries are involved in dismantling the american cesspool no one's going to come to visors defense they'll be left defenseless over there they'll be clawed apart they'll be ripped apart limb from limb by the mob the c.e.o. fires will be torn by the mob and the cops and the people will be there and they'll be like thanks for the pfizer buddy you're going to need it in hell and that they want no they won't because americans are patriot they'll be patriotic to the last even though they'll be based here because as they say they us drugmakers he says pay thirty five percent tax he also says quote that he said he's tired of criticism directed at companies and c.e.o.'s for doing what he says may be the best strategy

for their shareholders his exact quote regarding this. is there's a lot of cute ways people present this argument one of them is that these u.s. companies are getting all the advantages of being in the u.s. the universities the infrastructure the national institute of health the freedom the u.s. represents economically but every foreign company that invests in the u.s. gets that advantage as well so why should we have to pay for it. look the shareholders are equally culpable in this crime against america and the idea that we're doing what's best for the shareholders is a kind of delusional thinking that is fundamentalism or market fundamentalism but the fact is just like the us separated from the colony it separated from the united kingdom it was no taxation without representation now it was only not too far up the coast from new london where pfizer's is based in the boston harbor where the american colonists did the same thing essentially said the same thing there's no advantage to being british anymore we might as well just become american no this is

the triumph of the monarchy here of queen elizabeth conventions or former colony to come back so far as it is done to get back in to the united kingdom and be ruled by their cooling so it's the genius of queen elizabeth to convince her american subjects you know make it part of the commonwealth it's all canada america australia some certain countries that africa but are all under one umbrella the common well let's all be ruled by the queen and her you know husband their prince edward or philip philip so now remember these corporations are also the ones that lobby heavily use their money to have to leave lobby first of all the us state department in the us president to go overseas and force people to sign tea typin t p p but they also are against americans having free healthcare or a national health system and yet they're coming here how is the u.k. able to pay less taxes how are they able to charge less taxes to these corporations

how are people able to have a almost twice as high minimum wage here versus the us despite all the propaganda americans hear every single day on fox news to the other way that if if we had a health system like the u.k. in fact they pointed out the u.k. as the disaster system that they don't want an america and yet here all these. american corporations are fleeing to the exact location that americans on on fox news are told that will cause corporations to flee america now but once they're here in the u.k. they will avail themselves you know pfizer the huge corporation with a huge cash management desk that manages billions of dollars every day once they're here in the u.k. and the u.k. they can avail themselves to all the strategies that are made available to corporations here in the u.k. the arbitrage strategies the hypothecation to infinity strategies and their profits will go up because this is the global hub for financial terrorism this is where

it's all centered and so pfizer wants to get in on that action so they're going to move from america the place that was supposed to be a shining city on a hill the declaration of independence the constitution they're going to throw that all out the window to come to this constitutional monarchy that lives under a rain cloud that's their idea of gourmet food as marmite who is ruled over by this old doddering queen or somebody literate you know husband and for what to save a few pennies on tax for a few for a few minutes before they change the laws again well fair enough to them you know they could still sell to americans americans will insist on paying twice as much they why should they have to pay for contribute to the system that americans want to pay for so finally i want to move on to this headline was the front page of the daily mail and this is a good reason also to move to the united kingdom as bank of england chief says loyce traders clearly broke the law clamor grows to throw crooked bankers in jail of course this is a joke and not to throw these bankers in jail but the story here is quite

remarkable because lloyd's is obviously partly funded by the u.k. taxpayer it's partly owned by the u.k. taxpayer and bank of england governor mark carney has said lloyd staff involved in this scam to defraud taxpayers could be guilty of criminal conduct so it turns out that at the height of the financial scandal in two thousand in two thousand and nine they were. basically scam the treasury ok just like is this now going to scam the u.s. treasury here you can scan the treasury and they might consider one day might possibly this should be in jail theoretically possibly it's allegedly possible that you should be in jail for scamming and they point out that between april two thousand and eight and september two thousand and nine for traders cut seven point eight million off the fees lawyers paid to the treasury by manipulating the repo rate which set the level of the feet so this allowed the state bank to access the tens of billions of government guaranteed free money and sensually we're going to have to the lloyds because the financial misconduct headlines are being grabbed by

barclays royal bank of scotland h.s.b.c. laundering terrorist money etc so lloyds has really come in into this group now and established itself as a underhanded scallywag and and financial terrorist lloyd so i mean i think that they felt a little bit behind you know they weren't getting the recognition as criminals as money launderers as misselling scoundrels as misrepresents its zander's of the truth as gamers of the system of course mark carney says he's going to maybe put them in jail that's a huge joke mark carney wouldn't put anybody in jail he's not allowed to put anybody in jail are carnies side lowest he thinks purely in the silo institutional group think that's handed down to him from the bureaucrats in the academics who cooked up these ill conceived schemes to defraud and be critical people.

he was a big. the big people left right and center mark carney is without a doubt it because allegedly he's a brick. i'd say without a shadow of a doubt he'd be crippled because that's the word i just made up and unless you can tell me that he's not a big cricket. for certain but i feel for you. and that's where it was always going to corsica past must well if you made it up you're the expert on the one i am the expert on the word pickler and as such i can tell you that mark carney is a big and there's nothing salacious about that except that it could be inferred to mean something but so could every single word being inferred to mean something else that's the thing about word i well got to go abandon ship all right well stay tuned for the second half a lot more. i'm

happy martin the stories we cover here we're not going to hear any right other big story. and talk of reason they don't want to do now. that we don't think. now let's break the set. crosstalk rules and if it doesn't you can jump in anytime you want.

put it on your. face you know and. a pleasure to have you with us here on t.v. today i'm sure. lucky right from the scene. of the first trip. and i think picture.

on a reporter's twitter. on instagram. d m a little odd. welcome back to the kaiser report imax keyser time now to turn to comedian and he's also been author of a two thousand and eight smash hit book does anything it bankers and fifty three other indispensable questions for the credit crunch to any welcome to the kaiser report thanks for having me on right now and a six years after your smash book and we still have front page headlines in the daily mail that say let's throw the crooked bankers in jail what's what's been going on nothing's happened in six years. called belief in the book how the total silence of an all round about four thousand companies or something has not

completely changed the entire face of economics would you made a good point if you said to the bankers in jail here we are six years later they're still asking this question should we throw them in jail you see moved six years ago you instinctively had that feeling you got to go to jail well what's the problem why aren't they in jail or worse because we want to reward people who do own speakable things to this country i think we saw with fred goodwin given a noise in two thousand and four i think before they waited to see whether everything went more than dolly parton swimming backstroke surely you know the how to white to see whether or not what he was doing was or wasn't unbelievably stupid because i think giving goodwin his noids in two thousand and four people going to see a magician and applauding when he is just sort of woman and hoff you know phase but he is the more impressive and important parts of the trick so i think that that sort of summed up all right so here i am have a use your analogy a magician song

a woman and a half and then the show's over the woman is sawed in half she's bleeding out like a stuck pig and the audience goes wild they're saying that's fantastic thank you so that's what they're rewarding the bankers for a crime so mark carney is now the head of bank of england so presumably. he's in for a knighthood soon enough art imagine possible even more than i imagined when when prince philip finally shuffles off the mortal call he could be next in line for being a queen is queens new you love a concert if they have the queen's concord homes or is a very delicate way of putting it yeah exactly for and seems inappropriate it's not in line to be the king but he would be the queen's main squeeze yeah i think but i think that would be an appropriate reward because he looks like that guy from mad men you think the queen at somebody do bring mark carney based on the good looks because you fantasize about him from time to time and there's you know i'd like a little bit of that. sort of nine hundred fifty stickers in it reminds her of her before you've guessed right so she's going to be reliving

a fantasy of the nine hundred fifty s. by going after the mark carney guy let's talk about the another big story in the news here there was. a dirty protest man who's on barclay's bank floor now could this be the start of a movement. which sounded like it was the end of a movement to be honest but there can be no more eloquent form of prophecy that can mean many more eloquent forms of protest but out of that is very much making your point in an extremely succinct physical way that is i guess the ultimates the ultimate expression of disapproval with the financial priorities and morals that we have in all in all banking sector so i'm now presumably the head of barclays were able to use that poop on the floor as collateral for some kind of put collateralized obligation bond and sell to chinese investors for billions and billions of dollars well you'd expect the kind of the magic which crawford goes on goes on behind the scenes automatically probably have given himself an extra

hundred thousand pounds on his bonus just for the emotional trauma of knowing that someone had difficulties in one of his one of his properties so but you know we're encouraged to save us to make deposits in banks and this gentleman clearly took that very much at face value. current leader over there partly. is brought any brought a lot of phrases in the lobby about honor in charleston being good and they have been caught yet in another scandal lloyds bank just caught in another major scandal where they were ripping off the treasury and the bank of england of course h.s.b.c. laundering money for hezbollah royal bank of scotland involved in numerable frauds and crooked behavior so your point is that this is really the way up the slippery pall of knighthoods in the countries that we can expect this kind of behavior to increase not decrease yeah i'd seems to be what we've lost based on our economy home you know multi-billion pound frauds crookery and also you know let's not be

judgment about let he who has never laundered money for his blog. you know not all moral high horses about it but you know we basically it seems that you know ethically as a country we we prize nothing of on the creation of money that's that's basically the only thing that counts in the cigar and i guess the relative pay for people who take massive financial risks and drive this country to the brink of catastrophe and primary school teachers now clearly you need high level skills to drive the country to the brink of financial catastrophe and a total lack of any moral compass so i would guess they're all fewer people who could do that than teach primary school children but it does show how we we we value these things relatively high so that in the city of london they produce they just make money they print money and this money ends up in the hands of a very few people it doesn't circulate the money we know the money velocity is

almost zero i mean while those who actually do stuff teachers firemen they're getting rid of all the firemen anyone who does manufacturing actual work and these people are shy on these people are considered pariahs they're considered to be antisocial in many ways or give them. you know yobbish behavior for actually wanting a manufacturing job so you just have money manufacturers printing money for the sake of printing money and as a result you have lots and lots of money but it's not circulating in the economy it's just being siloed a nice huge warehouses full of money with access from people who like to have warehouses full of money like the guy from breaking bad who had a big warehouse just full of money that's kind of what the main task is for these folks but it doesn't that the government's attitude certainly towards the poor people is just as i want to you have a warehouse full of money you know that's your own fault for not having a warehouse full of money and i guess i was encouraging them at some point to get away a house and fill it with money the only problem is being able to afford the warehouse

and then getting the money to put in it but you know that's not the government's that's not the government's problem and as you know a lot of this money is is pretend by see throwing not not so much good money after bad as made up money off even more made up money so you have this basic basic problem seems to me almost that there's almost no actual money left. anyway and what we have is an economy entirely dependent on homeopathic money that has barely a trace of the original cash left and you know some lunatics insist it still works exactly the same way i'm just i just don't trust the saw and solve it you not convince not convince marx not let's move on to our mayor boris johnson of course his office is right behind us people can see in the background shaped like that enormous i guess testicle and yeah it's a it's actually based believe it's based on henry v eight s. left testicle great iconic well that was that that was so that controversy has been solved it is left testing believe our belief is left just across the river from way

he had is executed. so what was more appropriate. than the angry left testicle yet and there is a so he said within the at tesco presumably personifying. the seminal approach to governance that we've come to love and appreciate what what about these water cannons that boris johnson is that implementing on the streets of london he's ordered some water cannons. to this summer he's anticipating some riots because those who don't have a warehouse full of money that they printed there are considered to be under syra balls i guess boris johnson is going to wipe them off the face of the street with his water cannons is that the kind of the plan you think that does seem to be the plan i guess you know if you are in a position of responsibility and you've worked your entire life to work your way up the political greasy pole of some point you're going to want to think to yourself i've worked years for this all want to get some water cannons and for the mint people well that's just that's how politics works and that's the out there was

a sort of i ninety eight percent serving politicians want to fire water cannons at people and that's a survey that i've just made up but the point the point of sensually stands and the theory being that there will definitely be more riots because people are annoyed or so hot summer maybe it was just you know he was just looking at the long term where the full cost. the people are going to need to calm down physically as well as politically so the water cannon is as much a public shower as that's a public service public so it's a could be a public enema because this leads into my next question that's quite a powerful lead to bill let me let me just let you know illegal kind of backtrack a little bit maybe you can comment on this you being british and all why is it that in this country when the public decides to really go out and force and protest they get naked and ride on bicycles with their hanging out and that thus the enema comment from just a moment ago you know why is it that need to show their as the expression of their

their protestation all i don't i think are something deep rooted in the british psyche at the famous story of lady could only. odd things eleventh century or so when she got a call from the i guess it's a good boy she got naked on the horse and there was a protest yes so that's carried through a salary or two so when the romans first invited to things we buy she pens it also was blue to my you think it was colder than it actually was and almost certainly mooned them so i mean the the bad back so i had two thousand years of proud but i said before the romans it was just purely a druid culture you know you do it worshipping at stonehenge which is that type of thing mushroom worshippers raincloud worshippers and the roman showed up late and i've got make that a horse and the entire culture decided that yeah we want to be likely to get i want to be like romans we want to protest by getting naked and having mayor johnson take a water carrier up our strength trying to get us a clonic that is probably the most concise history of british politics and society

little that anyone could ever give marx they were on a roll here now you being on the fringe festival this year by the way i should mention that you can be seen the last two weeks you've got a show which is very exciting to look that up on online but i want to ask you before we go talking about comedians. and the credit crisis that you documented in your book does i think bankers frank skinner came out of retirement and a famous comedian after bankers lost his entire pension fund and you never run into frank on the circuit is he crying what he got destroyed by bankers i would think he would be particularly you know incensed by the presence of bankers i do want to know from gays a lot for a lot for madoff not discussed his old post like at all we could just freeze all the broader what if you're ok and you can't be out by the bank or say try to work in the region book he clearly didn't read my book coping with almost everyone else

everyone else in the world i love the way say that my book documents and. it was really really really writing checks of the contents of that book can all cash much well. over a period of time not a period of history i'm very much the judge of modern also you know the barbarians at the gate or the classic texts i mean this is the one that i think captures it certainly does i design costs makes and without a question i'll put it on my next post that exultant zeit geist under. the name yourself yeah well what's the next book you've got about thirty seconds left of it and a sequel to this now that we've had some look back on the i learned it last well i'm not sure there's a sequel to be written because it would be exactly the same book and sort of that so you could really issued a book because of those things today so this is actually the cube humanity has an incredible ability not to look very obvious lesson so might be a stone for a first second edition actually all right we're going to leave it there and he's

also thanks so much for being on the kaiser report. all right that's going to do it for this edition of the concert report with me max kaiser and stacy herbert i'd like to thank our guest and he's also been if you like get in touch tweet us a kaiser report until next time.

you know where you.

clean more zero casualties war this is the great fantasy of war mongering politicians. capturing people is this what do you do if this is killing them easy we reserve the right to kill any person anywhere any time. they can do that in the city for they come true and that's what makes these things are very. politicians. a new kind of power

via the. sat is very tempting. israel steps up its offensive in gaza killing more than one hundred palestinians overnight while hunting for a soldier it claims was captured by hamas. the civilian death toll mounts as the ukrainian army tightens the noose around the self-proclaimed republics in the east of the country that as a second party affiliated journalist is deported from the country. and coming clean on the hush hush interrogation tactics. which. we did some things that were contrary to our values. barack obama confesses ahead of a report on cia interrogation techniques.