we'll. put it on your arm and a lot of these. types of time people. a pleasure to have you with us here today.

max kaiser welcome to the kaiser report you know we're still in new york not far from broadway where i believe still playing les miserables oh it's a story about some guy a good story for twenty or thirty years doing a cigarette wait a minute is that les miserables or ferguson missouri. stacey yes maxwell that is about injustice the injustice that led to the independence that was the french revolution as voltaire would say people are angry with the injustice now i'm going to show you a tweet from novelist perry. rich white lady steal sixteen hundred dollars in clothes gets shot six times and head oh wait i'm sorry yes five days community service type out this is referring to a woman named kate mack where she's the daughter of a very prominent property developer here in new york city she and her they have a famous house out in southampton where as good as it gets was filmed very rich

lady stole a pair of jeans a top and a jacket worth six hundred dollars she got five days community service eric holder the music role now in broadway well this brings up a number of topics first of all yeah there's a huge injustice if you're a rich white lady you know have to serve any time you don't get by the police do still all day long and there's no problem if you're a black kid in ferguson missouri then you get shot it six times but the other question is why is there a compulsion to steal amongst a rich white lady out that happens is because everybody on the hamptons and one in wall street has made their money by stealing so it's a habit that they have developed over the years that they can't break so they need to steal because they're steal they're addicted to stay. she stole from saks fifth avenue now i mean the thing is that the population and you saw that many people on twitter were very a ok that this guy mike brown the young guy in ferguson missouri was shot dead

because they said he stole a cigarette one cigarette maybe where they say that's even being generous a dollar maybe even two dollars for the cigarette here have the police at saks fifth avenue shot this woman four times in her body and two times in the head i just think there will probably be a little bit more this is too much this is over the overkill but i think that we start to see scenes like that where rich white ladies of sex with them get shot six times twice in the head and four times in their duty and back because they are because the police state is feeding on itself the surveillance state is feeding on it so the cancer of the american justice parade is feeding on itself and there's nobody that's going to escape except for maybe two or three people get the heck out of here and end up in cayman islands or someplace safer in terms of this parasite state feeding on itself i don't have

a headline here but i was reading a story where by these debt collectors there's like these rogue debt collectors who are souping up debt information from other debt collectors and and collecting debts from people bad debtors before the other so that's a whole parasites they started eating it solved just like the joke about starbucks opening a store with starbucks so there you have collectors who are going on collecting binges of other debt collectors who are in the process of collecting that some bad debtors who are in the throes of being collected on their debt because their debt collector went out of business thanks to some collateralized debt obligation bond that went bankrupt the goldman sachs the ultimate debt collector of debt collectors no debt collector of course went to see john chorus line and i thought this piece of art from william bonds i seven called another luther i see is john course line leading cue teashop oh well. it looks like in ferguson missouri but nobody ever shot him after he took a billion dollars with the help of j.p. morgan nobody ever arrested him nobody ever find him nobody ever said it was ok to

do you know tase to man remember too big to fail too big to jail this is what happens when you have too big to jail the fact that the phrase answer the american lexicon told you that or ferguson missouri was going to happen if you say these rich white guys in the hamptons are too big to jail the looting is ok that billions of dollars of wealth confiscation is a ok you're going to end up with people around the country who've been disenfranchised caught up in situations where they maybe still are not steal allegedly steal a cigarette or a cigar and get shot in the head six times so this is what's this is what happens when you've got an enormous chasm between the top looters like the warren buffet jamie diamond and you've got the street level guys who are getting victimized by all this so there's a huge conflict in the cigarette by the way with the cigarette low it wasn't even like cuban made we know for a fact because they're not allowed to sell cuban stuff here so it wasn't even a good one but you know speaking of jamie diamond in the next headline again here

we have a case of jamie diamond thirteen billion dollars now this secret now compared to mike brown when he stole that cigarette lower cigarette whatever from a shot first of all that shopkeeper never even called the police about that so i don't know where they got this video the police got this video but that video was also released before the police and now it's to the police officer was killed on the video was released to the public in order to paint a particular picture about how this young man deserves to die now this is a thirteen billion dollars jamie diamond jamie diamond secret is that now he told the american people that. you know the subprime mortgage fraud within j.p. morgan was actually only committed by bear stearns and washington mutual that they bought as a favor to the american people. and in fact what happened is that a u.s. attorney for the eastern district of california uncovered huge amount of documents that prove that jamie diamond and his team knew and committed the same crimes back

in two thousand and six and two thousand and seven and what they did is they presented that information to u.s. attorney general eric holder. that day jamie dimon called up eric holder and a deal was done all of that evidence was hidden nobody has seen it eric holder did not release it to c.n.n. and fox news to paint a picture of what with the pay thirteen billion dollars a record fine for a u.s. bank paid thirteen billion dollars last year nobody knows what he did and it's all done away if you look at the corner of the reports of the annual reports of j.p. morgan you'll see in the footnotes of the references to off the balance sheet items just like enron or any other fraud world com the details not any great specificity but very vaguely of the nature of their fraud so that means yes you see never prosecuted eric holder never prosecuted the financial news like c m b c never

brought never reported on it the hedge funds never did thing which means when a fraudulent fraudulent bassman warren buffett never talked about it on a c n.b.c. show so this it takes a village member hillary clinton who says it takes a village it takes a village of fraudsters to commit a massive problem jamie diamond of j.p. morgan i mean we always put on jamie diamond so he's the villain in all this and he'll say look i wouldn't do it if i wasn't given all the tools to commit all this massive fraud and that's absolutely true the fact that he's a cancerous letras tapeworms parasite infesting and eating out the innards of american society causing things like ferguson missouri to blow up with that's of course a given but let's look at the systemic across the board fraud committed by every politician every media outlet and everybody in that business who has got. coburn's all over this reckless behavior and interaction that's now brewing in america well i might add that this emerged only at the end of two thousand and thirteen none of

the media in america even offered this as a possibility that this was something that j.p. morgan was doing they were all buying jamie diamond mine the only one that weren't they we it was us and that was kaiser report we interviewed terry bull back in two thousand i'm back in two thousand and ten back in two thousand and five and she said over and over that no it was not just bear stearns a washington mutual j.p. morgan committed these crimes and it will emerge one day so that has emerged eric schneiderman who's the attorney general for the new york this is what he said when he saw the information about what jamie what j.p. morgan had done regarding mortgage securities fraud it was even worse than i had realized because it was so out in the open it was like a bank robbery without masks or gloves i think they were so brazen they didn't even bother wearing masks or gloves to hide their crime they just did it out in the open he said there had been bad behavior people knew it was bad behavior it wasn't too hard to understand it was unbelievable to me actually and i had a hard time accepting the fact that there were investigations going on because how

could you not investigate this well i mean there are no investigations going on because jamie diamond pulls out the terror card so say investigate me terrorist or we'll blow up america. everyone lives down. and gets violated by jamie diamond you know he's basically the america's got a battered wife syndrome you know you go down to the police station on any given night and there's some poor woman with a face being told paul talking about my husband didn't do it i ran into a door it was an accident and i want the police station laughing like well think about this in the global world community the world is laughing at america because every single day jamie diamond the victim that is the american economy shows up in bloody and ready to you know near death and then saying oh it wasn't me that the. at this time it wasn't me that knew that this time i bow to your love to me these loves me and the rest the world going home oh oh oh oh oh oh oh russians buying gold rushes deal with the bric nations russia is doing with the red chinese doing

with the red china with the dealing with all other countries but the us america become the butt of the world joke because jamie done it is a serial crime and so poor and eric holder is middling this to take place on the job yet oh wait a minute i forgot you're smoking cigars obama talking about jay z. whatever the prick you do do you have a job eric or is it just to look like you're doing something finally on this matter of injustice and independence and the future of what's going on in america here ferguson protests and taser stock thirty percent now this is not because the people are being tasered that's part of it tasers shares were up because the company is most well known for his taser guns and that shocked people but it also makes wearable video cameras used by law enforcement so they reckon that police are going to now have to wear these cameras made by taser it could also be solemn thing that might be you know introduced into the goldman sachs and j.p.

morgans of the world that when these bankers go in to negotiate project mortgage backed securities or sub prime auto loans securities or any of these other things the sewage securities that they sell to jefferson county alabama those kind of things maybe they'll have to wear video to prove you know not the taser we're going to get into like a brand extension like maybe taser practice serial like taser crime serial so you know with your five year old. you know just teach everybody teach your kids to use grandma taser will taste anybody we don't care you know brain extension people like to get taste best think that's the point of american economy today people would to get to stacey rather fine but thank you hands up don't tase me bro louie all right stay there don't go away much work. you know what. little.

live. live. live. live . cross talk rules in effect get into can jump in anytime you want to. live. but i'll pull over my language of all but i will only react to situations i have read the reports and let the players know i will leave them to the state department to

comment on your letter play like a monthly sage's it lists or carry out a car is on the docket no. thank you no more weasel words when you fade a direct question be prepared for a change when you run should be ready for a battle for the op speech and let him down the freedom to costs. basin full scope becoming independent the schools the nation the nation should be self-governing govern the feels better than the low someone else to do it full of. dramas good chance be ignored. stories others refuse to notice. faces changing the world lights now.

on full picture of today sleepless night own designs from around the globe. up to. fifty. welcome back to the cash required imax keyser time now to turn to matt taibbi author of the divide american injustice in the age of the wealth gap matt welcome back to the kaiser report all right it seems to me like you had the financial scandals which created enormous dislocations in society and now we're seeing the result of what happened you know rip a lot of people up in places like ferguson right right oh absolutely. you know i've been writing about this for years. in a way you know poor black communities places like ferguson were really there were the marks in the con and the entire subprime mortgage scam and

a lot of people don't realize how this worked i mean going back you know to the board the bush years when they started talking about the ownership society it wasn't like banks were doing this for altruistic reasons this was all about money and what they were really doing is they were creating millions and millions of subprime loans and then they were mis marking them essentially and selling them off to sucker investors around the world hedge funds pension funds foreign trade unions but the whole thing depended upon creating millions and millions of loans and somebody had to sign their names and the dog would lie and say oh so let me jump in for saying so here's the so if you go back to the old bush ownership society for years and that was the idea you got elected on this this idea we're going to get i want to buy a house in america through this magic of subprime right and then through you books and your articles you know that those problems are repackage shops like goldman sachs sold off the pension funds to that and they made bets against their own customers course they did all they broke the law five ways to sunday and now you

know jump forward it seems that this was not a random example of violence coming out of nowhere is another mean this is the what's going on in ferguson is the predictable result of what happens when you disenfranchise people right now absolutely look at these people were disenfranchised and several different ways throughout this this process number one . again there were sort of incidental victims of the larger scam of we just need somebody to sign all these loans and who better to do it will discover to spam into these neighborhoods and get a whole bunch of people to take take free loans you know it's sort of like those crime movies you know where they were the drug dealers hand out free turkeys on thanksgiving they were going to introduce the neighborhoods and saying look do you want to a free house basically let nicky barnes american gangster comes to mind exactly it's american gangster they would they would knock on door and say look do you want to interest only loan you want to pay anything for two years here you can get a real you know you've been living in the house for years and books and cash at your house and it sounded all very altruistic but in reality what were they doing

they were just creating lots of paper that they could shop up turning to collateralized debt obligations to the investment banks and then they would resell it somewhere else for some sucker would buy it so that happened so these people got into a lot of bad loans that was one negative consequence of it then when the markets collapsed. a lot of these people were foreclosed upon with essentially bogus paperwork and so you had this mass perjury effort where where you had robo signing scandals were all of the biggest banks in the world were essentially creating chains of title and other legal documents you know out of whole cloth they were just inventing them they were committing frauds upon the core in every community everywhere in america and there's been no criminal penalty for any of any of that they just wrote a check to make back go away right now that i want to. know the words what we're saying here is that people are focusing on this one event for us in missouri there's a spontaneous eruption of violence it's people are down there journalists are getting beat up but this is a symptom of

a much bigger problem and i share what you've been writing about in your books and your stories it's been attacking really the center of this problem is that the culture in the big money center banks and on the hill to goldman sachs and j.p. morgan is is is literally corrupt and when you allow it with there's nothing just now attempt to rail that in there's no attempt to stuff. and there's no penalties and it just grows it ends up undermine the society at large and you're the book the divide it really attacks the how this is spreading out all over america right well sure and people see the dichotomy i mean think about it if you had a militarized police presence swarming lower manhattan and all the places where the capital markets were operating with every investment banker in the country had to be stopped every ten minutes on its way to work and have his briefcase inspected they would revolt in a second there of course there would be violence they'd be like take it somewhere else bus there with all the stuff right. but in reality the reality that they're

only doing that. in urban centers where you know that they have an incredible police presence in all these places and it's extremely minor crimes that are being policed so it's so heavily who mean well these in these incredibly consequential national and international scams are going totally unpunished not even if people don't know the specifics of why that's happening they can still feel that the people in these cities know that people like jamie diamond and other other investment banks are getting away with no penalties whatsoever or they're writing a check to make it go away and knew well they're doing hard years for a little tiny crimes of course they're going to be angry right i mean does that mean that's a sensible they now that the cat's out of the bag they see that these guys are getting away with massive fraud and they're being prosecuted like at les miserables somebody steals a cigarette and suddenly they're getting shot for shot right well i want to dig down into something pick your brain a little because it may covering the crime on wall street now wall street crime

reporter for a number of years you've got an appreciation for how these things work. the cost of these militarized police forces in these towns is enormous force so i can just imagine that. the way that the going to pay for all this is they're going to bundle all this up as a crime for. terrorist prevention gone already sick like all this in ferguson's got all the quickness oddly propane for all that right well they probably leapt on the money right and then we're going to repackage all those loans and swap it out or pop it out rachel just like i know this kind of free styling a bit but the bike touching on a chord here can you kind of riff on this all of course i mean just think about it in terms of but jefferson county alabama what happened there the you know the towns ordered by the federal government to build a new sewer system they designed one for two hundred fifty million dollars local graft turns it into a three billion dollar project they can't pay for it but no no worries wall street

comes to the rescue and says look we'll create all these financial instruments you can swap out this that you can pay for ten years down the road nobody understood what they were getting into they'd be in some cases they bribed local officials to sign on the dotted line ten years down the road that the you know the bill comes due when they can't pay for it nor a bankruptcy for a generation i am sure that that is happening with a lot of these military out of ferguson missouri some salesman shows up and says you know what her layaway plan we're going to give me a militarized police force right you know you may never need it right they do it in thousands of towns across america then somebody steals a cigarette and some store somewhere rests on the blue martial law and you've got to use the stuff you've got the warehouse and they escalate the problem regulus ask relating the problem instead of doing what the police force is supposed to do is dampen down the problem right now of course i mean if you if you're if you're some kid and you and you you know living in a poor neighborhood you come out of a store and you got a bank bearing down on you good because maybe you lifted a you know a cigarette out of a at a convenience store of course that's escalating the problem in that that is the

whole point of the discrepancy here people don't understand it's all about allocation of resources allocation of law enforcement resources how many people do you think they have policing the capital markets here down on wall street how many agents they do you think they have covering it do they have any special equipment that they're using to surveil that particular part of the american economy or so. but in every little town in america every place where poor poor nonwhite people live you know the most expensive military equipment known to man and somebody is paying for that and people can't not notice that dichotomy what about the ac now these images are coming out of places like ferguson they look a lot like what we see overseas uprising as in countries around the world in america look at these countries they go you know planting it didn't happen here but suddenly this stuff is happening here especially since nine eleven and i seeing a globalization of this type of confrontation between rich and poor is not a fair characterization you can talk about that all of it you know absolutely i

mean i think. most people who lived in the real hot zones in the in a lot of american cities would would say that it's very much like living in an occupied territory i mean i did a story about you know camden new jersey were they've been fighting over territory in a way that's very similar to our military campaigns overseas i mean they actually essentially had to cede a whole bunch of territory a couple years ago when there was a budget crunch and the police you know had to step back and now they're kind of reclaiming territory you know in a way that's very military i mean it's not the fault of the police necessarily it's just it's just a very it's it's very much like occupying a foreign territory right. let's get into a couple of the names that most often here when we talk with matt taibbi so last year jamie diamond he met up with eric holder they agreed to pay thirteen billion on matters relating to mortgages back security fraud no jail time no public

disclosure of what the evidence was the right and still jamie diamond there's another part of the question he's held up as a hero right so here you have no jail time no disclosure of any zero talk about well first of all if they were of eric holder the new turn in general they were set to have a press conference and now announce. major civil action against j.p. morgan chase about a year ago it was because of september twenty fourth of last year and hours before that press conference jamie diamond personally calls like holder's number two deputy i think it was and they instantly renegotiate the whole thing and the press conference was put off and the next thing you know there's a thirteen billion dollar settlement where the whole thing goes away and there's there were no criminal charges. can you imagine any other person who would be the target of a federal investment investigation being able to call up the attorney general or call up the prosecutor in charge of the case and say let's talk this over to let's

let's make this go away an ordinary person just cannot do that and that happens over and over again in these cases that these things are decided at a level that are not available to the ordinary criminal defendant or the ordinary target of a federal investigation i we head into a flashpoint because voltaire said injustice in the end produces independence so if the growing wealth gap is causing more and justice well independence eventually results i'm going with this other words is this leading to a point where the american character says boss stop right i'm not is enough enough with this right what do you want what's your sense i mean. when ferguson first happened i mean i've wondered why this hasn't happened before and i think if you go to any any inner city in america there is enough rage and and dissatisfaction and a lot of it is also just simple economic pressure pressure that people have been put under and it's not just the neck non white neighborhoods it's an ordinary it's

you know it's the suburbs where people have been disenfranchised also they've lost their jobs there's a tremendous amount of anger out there it's inarticulate anger for the most part people don't and don't know exactly why they've been put in the position they believe i'm going to play you know i grew up in westchester you know not far from here a nice town larchmont and i people i'm in new york and you know people i've known for thirty years going back a long time and they tell me these are people. the country club sorts right there for their get the pressure on you know they got to give it up and they did their good economically squeaks now going back to the american revolution it was the middle class that staged the revolution it was the worst affected it was the you know the guy in the upper middle upper middle class and some taken away so they said you know what the hell with this i'm of all that you get the sense of that yeah absolutely i mean i think anybody middle class in this country or formerly middle class in this country would tell you that the people have been put under enormous pressure mean real incomes haven't risen for god knows how long and then of course you compare that with people at the very top who are continually

increasing their share of the pie and that just raises the level of dissatisfaction and anger and eventually it just you know the center will not hold you know things fall apart with it with. time right i mean i think. this is this just can't it cannot hold it has to fall apart i finally got about thirty seconds left you are now at first look media and of course we follow your movement quite closely you know and there's an unnamed project coming down the i would be it wouldn't be doing my job if i didn't ask you can you tell us any more about this yeah i know it's going to be humor magazine but you know with some biting investigative journalism too i think we're just that are going to be anything that's phony and corrupt and dysfunctional about this country we're going to hit it and we've got a really great and you know our it is our going to. matter rather than thanks much man the guys are all right thanks a lot max. all right that's going to do it for this edition of the guy's report

with me max doesn't stay here but yes and i mean you want to tweet us it's concert for the next time my own. gender trumpet symbolizes the gender madness in swedish again here. because i found this. project finest with seventy thousand euros to investigate the trunk from a gender perspective. this month showed bush just transports gets a facelift a new cancer import we make the most of the sun in. this science flourishes in tomsk and we check out some car let's say. technology some gauge here on

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up on our team fighting isis the u.s. began supplying surveillance missions over syria now many are wondering if this latest action will have the u.s. teaming up with the regime in its criticize it. good easing tensions in ukraine president's meeting and for a shango meet as the humanitarian crisis continues in the war torn country but is this meeting providing any chance for peace. and an unarmed teenager killed by police and for use in missouri and laid to rest but what does that mean for the community going forward we'll have a report from ferguson later in the show.