sequent lightning is occurring with this storm caught on the open water stay below if possible keep away from ungrounded metal over. we don't people that think like this. this is an incredibly situation. greetings and salutations greed for lack of a better word is good yes the opening line of that seminal speech from one of hollywood's all time great villains gordon gekko in the film wall street appears to still be the motto to live by for the business and banking elites of the world contrary to the best efforts of many great thinkers and visionaries the engine of humanity and that small planet still runs on money and greed is still clearly the

lubricant by which a majority of humanity's business is conducted that matter or appear on bridled and competence which ultimately may be the skeleton on which greed is based because only equal parts hubris greed and fear incompetence can account for the continuing disaster that is the london interbank offered rate or lie bore as we like to call it yes live war that law agreed upon rate at which big banks supposedly lend each other money is back in the headlines again like a rock star in a drug binge except this time the actions of that rockstar could potentially shatter the very foundations of the world's economy not just the hotel room glass table at the w. i'm not exaggerating for poetry and prose here either the libel rate is imbedded in almost every interest rate on the planet so when news comes out that it may very well be based on absolutely nothing one should probably put down the video game

controller and take a listen according to matt taibbi writing in rolling stone years ago we found out the world's biggest banks were manipulating libel or that sucked now the news is worse libel. or is made up actually it's a person even then that lie bores probably both manipulated and made up. goodness gracious let's dive into that magical world of barry tales and greed that is the modern financial industry as we start to bay's watching the honks. that's. the part of. you that i got. so. welcome aboard watching the hawks i am i robot them.

earlier we were joined by one of the few reporters out there with the skills and ability to help us navigate that magical greedy world of lie bore and big bang the one and only matt taibbi we started by asking the journalist author and co-host of the weekly podcast the tarp report to help us all understand just what is the latest controversy surrounding libel or. financial conduct authority which is sort of britain's version of the f.c.c. . their chief about two weeks ago sky and your billy came out with a series of statements about the future of live for and why in the process of doing that. will you let slip he said actually several times that one of the things they discovered as they were investigating live or was that the way you put it was that there was an absence of underlying markets. and what what that basically means is

that live poor has been kind of based on its fiction. because it's supposed to represent. an estimate of how how much it would costs for banks to trade with each other to lend with each other but what he was saying was that banks haven't been tricked lending to each other. and this is this basically means that interest rates have been based i guess or you know god knows how many years that's incredible. you know so it's like but what was what the difference between that notion and the original scandal that broke basically like five years ago now that the idea was they are being manipulated artificially anyway so what is the difference being that manipulation in the end the idea of guessing. so it's funny because what it means is that the rate is both manipulated and fictional which is a very bizarre concept you know i talked to a couple of guys on wall street about this basically the old scandal was in order

to explain to see how to explain how it works basically every morning. twenty of the world's leading banks they get together and they call up a committee in london and they say here's what we think it would cost to borrow money from another bank today and they make estimates across a number of different. type periods you know i'm one month loan six months loans what one year allowance and different currencies and what they had been doing previously what they got caught doing after the crisis was intentionally submitting the wrong numbers and they did this for two reasons during the crash they were intentionally submitting low numbers to make the financial system look safer than it was and sometimes they were doing it actually at the behest of regulators and then in other cases and this went back years and years and years they were doing

this to make their own bed payoffs so they would have investments on their balance sheet and depending on where a lot of war was they would make more or less money so there are brokers would call up the lahore submitter and say hey can you push you know the six month write down today and all delegates you have some champagne or sushi or all make love to you or . those crazy stuff so that was bad enough that was market manipulation this is worse this is actually to what they're basically saying with this is when the banks were making those estimates all this time whether intentionally or unintentionally estimates were not based on any real data. so what they were probably doing was looking at the previous day's. numbers and simply saying well we feel relatively worse or better of the markets today so we're going to we're going to make our

guess is higher or lower so again all this really means that that interest rates have been kind of arbitrary as opposed to reflect suit. real market activity and these interest rates are carried over you know in the trickle effect on almost everything from car loans to student loans to a miss a pal of these years these interest rates and kind of use the library as the benchmark i'd say and him asking that this new revelations what kind of repercussions will these have for you know john q citizen not just like you know the wall street heads or the or the banking financial industry types like will this reach them. it's hard to say immediately to back up and explain this light light word isn't everything i mean it's it's in the in the cellular level of the economy if you if you go to your or your office at home. you know somewhere in almost everybody's file look at it you've got a contract for a credit card or an auto loan or if you

a student loan and if you look at the fine print you're going to see that your loan rate what you pay every month is probably based on a calculation that will say something like live four plus three and a half percent or something like that so how much interest you pay every month and we're talking you know billions of people around the world are in this are in the same boat they're all making payments every month that is based on this rate sixty percent of all mortgages are based on life or so if you know a home it's very very likely. that your your monthly rate is higher or lower based or so will this affect anybody it's hard to say i mean that there is sort of a quiet panic when i talk to people on wall street about this you know people are just sort of pretending it's not happening and you know the industry with the industry saying is finally that they're going to replace life or in twenty twenty one which is going to assess a tidbit all these financial contracts are going to have to be rewritten somehow

but until then nobody really knows what this being so i mean it's people are sort of agreeing to just go along with it was right and you mentioned obviously that now is it having ripple effect but there's this headline about why boys uncertain future triggers three hundred fifty trillion dollars succession headache so the idea is replacing libraries what creates that succession headache is that is that the point of that headline yeah absolutely well i mean bloomberg said lines that you know don't worry it's only three hundred fifty trillion dollars worth of stuff so it's you know it's a it's a headache right now they're not that big deal. let alone. yet again. there are istomin is three hundred fifty trillion dollars worth of financial products are pegged to this rate so you can imagine them even the tiniest fluctuation a you know or ever in this rate would have a massive global impact everybody you know if you took everybody in the country and

told them that they had to pay two hundred or more or less dollars every month toward their mortgage think about the impact that that would have. so they're trying to figure out a way that they can replace this flawed system this flawed arbitrary system and they're going to come up with something but the problem is they don't know how to do it because if they are really letting to each other if there is an underlying real market as they're saying it's there they can't come up with a more honest way that's one of the things this british guy said and your billy is even the most honest system in the world would be flawed because there isn't a real market that we can describe that's incredible and let me as ok there's no real market we saw the market manipulation earlier is there anybody you can kind of stop this reign i mean at some point. and who can step in and to kind of say ok you guys are insane whatever you're doing is completely wrong and we need to we need to

start over i mean is this something that's like the u.n. as a dinner i mean i don't i came think a bit agency that would even remotely as i have a central bank central yeah yeah i mean that look to set the central banks you know the financial conduct authority as you see the fed all these regulators have a role in us and you know when it comes to live who are both the u.s. and britain have agreed that they they want to replace this rate within five years but there's there's kind of a larger issue here that isn't even compliant just to this one you know ridiculously massive problem which is that a lot of the. financial services industry a lot of rates whether we're talking about interest rates or interest or swap rate interest rates wallops or the you know the gold market or you know other precious metals there are the prices are based on voluntary reporting systems so

what you're talking about asking you know j.p. morgan chase and goldman sachs and bank of america barclays to be honest every day were to be accurate and reporting these rates and so the prices of everything are kind of suspect because you can't really trust these people to do the right thing and that's in the best case scenario so there's a real there's a larger problem that has to be sorted out and you're right there's really no one cloak were empty that isn't or is responsible for it. as we're going to break hard watchers don't forget to let us know what you think of the topics we've covered on facebook and twitter see our poll shows at our t.v. dot com coming up on our tease on your power bill brings us the news that a major settlement was reached in the lawsuit against the psychologist behind the cia's torture program and then we preview this week's new edition of redacted tonight stay tuned to watch the whole.

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war on terror utilizing waterboarding extreme temperatures starvation claustrophobia and body slamming those lovely enhanced interrogation techniques per u.s. senate investigation a psychologist program received eighty one million dollars from the government and produced no useful intel your money well spent here is parties on the part of the with more on the use of a.c.l.u. case and settlement. and doctors just and mitchell collaborated with the cia as psychologists to develop methods of torture used at cia black sites and prisons including kuantan mobile bay now both doctors have reached a settlement with the a.c.l.u. which is calling the development a historic victory. this is a story victory for our clients and the rule of law this outcome shows that there are consequences for torture and that survivors can and will hold those responsible for torture accountable it is

a clear warning for anyone who thinks they can torture with impunity the a.c.l.u. filed the lawsuit against the doctors on behalf of three victims of their program including one man mon who died as a result of their techniques techniques they were paid eighty one million dollars by the cia to design a cia report declassified last year documented the torture of ramadan. treated rahman harshly because of rahman's alleged he's uncompromising reactions who didn't tarry cation in lack of cooperation the pressure to break him and not have experience with a committed interrogation resistance on november two thousand and two ordered to approve the gods placing roman in the short changed position whereby he was compelled to sit on the concrete floor of his so roman was only clothed in a sweat shed they sent directly lead to roman's death by hypothermia. ca

whistleblower john kerry who exposed one torture tactic the agency's use of waterboarding in two thousand and seven for blowing the whistle to date carioca is the only individual to serve time in prison for anything concerning the cia's torture program and as the a.c.l.u. explains until now every lawsuit trying to hold people accountable for the cia torture program has been dismissed at initial stages because the government successfully argued that letting the cases precede it would reveal state secrets speaking to r.t. carry out celebrated this news this is absolutely a precedent for other victims to seek justice of course there are some who i think the cia would fight because their cases are very sensitive but there are so many other people who were sent to slee. torture for no reason people who had no ties to terrorism but were just in the wrong place in the wrong time it's going to

enable them to seek justice and to seek monetary compensation frankly i think the cia dodged a bullet here now there is a second case the american civil liberties union has filed the case on behalf of what was a beta arguing that the cia and mitchell in jest and tortured up was a beta that case is going to be more sensitive so the cia hasn't really put the issue in its entirety behind it yet we have to wait and see what happens with those a beta my guess is that because the opposite in a case is so much more serious because i was afraid it was the guinea pig of the cia's torture program that the cia will seek to have that case dismissed mitchell and jessen contractor the cia was terminated in two thousand and nine and two thousand and fourteen a torture report published by the senate determined no useful intelligence was produced by their techniques in two thousand and fifteen a report conducted by medical professionals and human rights activists accused the american psychological association of. ordinated with the cia to shield endorse the

torture program several months later the a.p.a. voted to ban its members from participating in torture in washington on your part until r.t. . it's the end of the week oct watchers and that means it's time to preview the latest fresh off the newsstand edition of are directed tonight now after a week's worth of division rage and violence i think we all could could use a little a little comedy in prose to help us navigate these troubled times and thankfully the good folks at redacted tonight are you to bring us a few smiles and some cutting insights into the early burly headlines we consume joining us today are redacted tonight correspondent john mcgill thank you all for your good work we needed this week the news this week first week that it was a snarky interview i'm really getting was that you guys are you're getting lovingly cut and that's. pretty good very good what i've done here. yes all right. so let me let me start this week because this week was

a pretty heavy week we had leon earlier in the week to talk about what he witnessed in charlottesville i understand that he talks about that some more at the beginning of your show this week and you can tell it clearly affected by what i actually want to ask you not only that you know give us the preview of the clip or same but also how hard is it for performers and comedians when the subject matter hits home like this i mean obviously it's something that's very difficult to make light of and it was very scary here how close he was to it soon as it happened i don't like we're not anywhere near this right and now that he was like ten feet away from it was horrifying and i think it's also terrible that it took a bunch of people being maimed and killed to see what we're seeing now which is the statues finally coming down you know the ones that went down in the middle of the night in baltimore the one that went down and during which is spurring protests and counter-protests as we speak the one that was i don't know. or about this tarred

and feathered in arizona which had a lot of people taken why was there even a monument and arizona to begin with but. for your guitar yes. that's right yeah yeah ok well yeah for me i mean i'm dead inside so it's not hard for me wake me out of. me and i just roll with it i don't like john lennon i'm just watching the wheels go round and round really disaffected very good is very present i mean it's a terrible situation and i will say this real quick. about the statues i'll be honest i'm i'm torn about it i do i think that they should be removed and should defer to the people that have been you know that they are a symbol of oppression to directly and you know more directly than myself absolutely do i think that in america we already have forgotten so much of our history and that's very dangerous because we're doomed to repeat it also absolutely so maybe it should be in some sort of like oh come to the museum of being on the

wrong side of history you know here's a superhero you know you know oh look we have something on loan from the u.k. it's a bust of oliver cromwell you know. so that's the sort of thing lee didn't amazing job of talking about a nuanced funny way we have put. my name on a summer you know leave camp i'm named after and a descendant all of general robert e. lee who should probably fire his publicist. i'm not getting though he's actually my great great great great great great third cousin. really by he never even told me a birthday card right so he's he's you know what you did to me is that in. any way both sides being named only you descended from really you growing up in richmond virginia the capital of the confederacy and attending the university of virginia in charlottesville last weekend i was also. ten feet from the charlottesville terror

attack as it happened so that is who i am and where i come from and what happened this week and i'm saying it's time to take down the statues of robert. the earth was i want to tell you i'll tell you what we're going to have to take them down or i just move them all to a big building where anyone who wants to go see them can it will be called the museum of values most evocative of all beyond. they don't have robert e. lynn and stonewall jags janet j. edgar hoover and i joe paternalist actually i took a. pen to after it came out he was depending upon a file you know and it'll have bill o'reilly not not a statue just bill o'reilly. just be greeting people and grab their whatever and.

actually. you know so we can. go with your sense of humor let you venture down to the byzantine world of google you tube and the censorship of things as we've talked about this week on the show as well so what are the facts have you brought back to us from this deep. this mess you know i mean this is a real who served in of freedom of speech in actually i think in an unprecedented way and it's multi-pronged you know you've got google changing the algorithm which is dropping down you know internet traffic on so many sites both anti-establishment left and anti-establishment right on the left it's a democracy now being down forty percent you know like the libertarian side antiwar dot com down considerably as well and other ones the world social web site down almost seventy percent you know it's not like they're hiding their agenda they're called the world socialize website maybe people want to write about it and so that's that's one thing you know you've got facebook now collaborating with one of the washington post to determine what's fake in real news even though the

washington post notoriously prints fake news as they're fed by the intelligence community and you know they're owned by jeff bezos a six hundred million dollars contract with the cia i mean this is like baffling type stuff you know and the you tube the monetization across the board of all sorts of independent voices on both the left and the right which also doesn't just make it harder for an independent channel stay afloat it also the algorithm then degrades that further so you know they're not putting as many people's recommended videos and stuff like that and if you guys have covered all this already i apologize right after we did actually that's one of the great things about one of the great things i love about the two shows is that you know we're a little bit you know have a little bit together people be fully informed but apparently they won't be able to actually watch it i want to. know you know what the truth is this. the pushback that's already starting to happen they don't have a chance they can't get us i mean at the end or net is it's open it's it's beautiful it's wonderful the only thing is what i worry about is newer folks coming along a new voice that's trying to come up they're going to really have to change up you

know the change it up and. figured out that this is truly sickening and honestly i'm sorry but the only way that they could pull this off right now is to have something like charlottesville something like barcelona or something like north korea all that stuff filling the airwaves i'm not saying it's an a to b. thing but it really does help them and it is a gift for them the voice of mr divisiveness is always is always is always a thing because guess what americans of all political across the board would not be standing for what is happening right now if they knew what was at the wall i want to finish with you guys had a little bit of a little bit of a guess what good news. coming out in yemen and saudi arabia which is the real strange coming out of my mouth you know good news in yemen. tragically. is it true that they actually there was a there was a member of the saudi royal family who actually came out and they need to stop bombing yemen yeah there were documents that came out. last spring mohamed been

a member of the saudi royal family told two former high ranking diplomat worked under the bush the clinton and the obama administration that they wanted to stop bombing yemen which on the surface sounds great it sounds you know believe it kind of make the point that this does give the media sort of an easy way out of continuing continuing to ignore the u.s. his role in the violence has been happening in yemen as well as the widespread famine one of the worst cholera outbreaks the world has ever seen. or one of the thing avoid you know hey we really should stop bombing yemen but we're still going to keep bombing yemen like hey i love you but i'm going to keep hitting you. kind of mentality. documents come out the point is that you can now use this as leverage to say ok obviously there's already internal dissent and you want to apply more pressure to that internal dissent basically. a split all right well john. thank you so much for coming on today always a pleasure to have you on don't miss productions like which airs every friday on r

t m. the average active celeb v.i.p. which features exclusive interviews and peddles every thursday on r t america ladies gentlemen that is our show for you today remember everyone in this world we are not told we are loved enough so i tell you all i love you i am i robot interrupt them shots though keep on watching those hawks out there have a great day and night everybody. i'm a trial lawyer i've spent countless hours poring through documents that tell the story about the ugly side of. corporate media everything uses to talk about these connor news. i'm going to paint a clear picture about how disturbing how to look forward conduct is the model these are stories that you no one else can do on my pepto in your post to the

american. question. i do not know if the russian state hacked into john podesta emails and gave them to wiki leaks but i do know barack obama's director of national intelligence has not provided credible to support his claims of russia i also know he perjured himself in a senate hearing planned three months before the revelations provided by edward snowden he denied that the n.s.a. was carrying out wholesale surveillance of the us. the hyperventilating corporate media has once again proved to be an echo for government claims that cannot be verified you would have thought they would have learned something after serving as george w. bush's useful idiots in the lead up to the invasion of iraq. it is vitally important that the press remains rooted in a fact based universe especially when we enter an era when truth and fiction.