is that although some changes have taken place in the banking world and we talk about those in a minute if you like the reality was that it was the biggest opportunity that this world had seen for a century to regain some kind of control of the way word capitalist system that we've got rein it in somewhat and gain control of the corporatocracy because we don't really live in democracies we live in a corporate ocracy where the big companies. control the democratic processes look you can get through every single protagonist i'm happy to do so but they're exactly the same people you've got exactly the same executives the academic evidence proves conclusively that they have very high levels of psychopathic attribute it's very important that you have the same type of executives you going to get the same situation occurring again you've got the same chief financial officers who do what they're told by the chief executive and keep the orders under control you've got control functions risk compliance internal audit that are not protected

whistleblowers are still not properly protected even though people say they are you are non-executive directors members of the same cozy club as the executives themselves who don't control the executives whatsoever shareholders don't exercise any stewardship audit ng if you want to talk about order to going to guarantee we don't get all the way out as a result is the biggest disgrace in the whole thing regulators what your point exactly the same people say you take the chairman of k p m g. john griffiths joe johns and appoint him as the chairman of the financial conduct authority. or well what are you going to get on to that not to have to say the big four say they operate in the strictest standards before we get her bit more into the into those issues you mentioned psychopathy which is a criminal term often using gord's british medical journal says that austerity that ensued after the crash of your birth and lehman brothers. maybe by twenty one he

will kill two hundred thousand people we talk about merced murder that's a gross underestimate. in the year or so after the banking crisis the united nations itself published a figure that proved that over one hundred million people around the world have been driven back into abject poverty by the banking crisis now the mortality statistics that means the number of extra people who darley as a result of poverty are somewhere around fifteen percent mark that means that the banking crisis killed more people about fifteen million the exact numbers not quite clear about fifteen million people which is more than any conflict since the second world war so the banking crisis wasn't just about money it was about death and of course it made everybody's lives misery and misery and still does the response to it now i want you to remind us what you said to the treasury select committee that

secured the resignation of labor prime minister gordon brown's advisor who was the deputy chairman of the virtual services authority james crosby i told them that i knew exact cause i was so senior i was one down below main board level i was the head of risk it and i i knew what had caused the crisis which was a completely inadequate separation and balance of power between the executive on the one hand and everybody else you're supposed to be keeping them under control all those figures that i've described and i said that it doesn't matter what the structures look like you can have the best governance structures and processes in the world but if they carried out in the culture of greed and ethical behavior and in disposition to challenge they will fail because gave b.m.g. one of the big orders richard and the other ones b.w.c. ernst and young deloitte in the news or some would say here because of russian money sloshing around this country they've been doing quite a lot of that over. basically you can be in g.

contradicted your assessments of existential risk yes i mean it was a cover up and i'm very happy and have been happy and have been demanding a proper investigation into my allegations that they covered it up ever since i went public in two thousand and nine the financial reporting council that regulates accountants does nothing karelian you can you can think of dozens of example you go to was going to a doctor ordered by the turks ordering is a crucially important part of the separation of balance of power it is not being done properly and the ordering prior to the banking crisis of the big banks was a fundamental root cause of the failures in the first place they knew i know because i was a partner and i know how good the people are in terms of their intellect and cognitive ability and finding things if you don't get the information from the company what can you do they do get the information from the company they can go anywhere see anything talk to anybody everybody talks to the orders nobody was covering things up for them i told the orders they sit in the group audit committee

meetings they said in the risk control committee meetings they hear what is being said and then management say ok we'll get another order to you is the order to is because of the way your probing or i'm not saying that there are changes that need to be made to make order to. better protected so that you can't fire in order to when they speak up that needs to be done and there is a review taking place all of the regulation of accounting accounting and auditing and corporate governance by saddam kingman and in fact i'm going to go and see them but let me just tell you one incredible story i spoke up in the group audit committee before i went to the board a date was basically telling me they carried on this where they were going to blow the bank up didn't use those words obviously and the next day the audit partner from k p m g said he thought i had a death wish what does that tell you about his state of mind anybody who speaks up has a death wish so that's their frame of mind and if an order to can't speak. up then

we're in trouble and we still are in trouble we haven't done what we needed to do so what did you feel when you heard about the lehman brothers bankruptcy ten years today did you see it as and it was just a few days before then your bank where your worst and had to be paid off by the taxpayer did you think oh maybe they'll be a chance now of a realignment here of capitalism the i am not a radical socialist let me ask you because i am a capitalist but we need a different form of kind of community collaborative capitalism we need to rein in the excesses of it adam smith did not describe free market economics in the way that it is currently described he believed that conscience would control things because in those days there was a regulator called the divine judgment authority which controlled people so the revolving door that. it was a little now i think that's a permanent position now well even in the form of failure to call it authority executive dr adams has said the people most culpable were let off what's your reaction to the fact that no one's been really sent to jail for it's just it's no

wonder ordinary people i spoke to my wife got me down in the car yesterday from yorkshire and she said well i don't see anything change because nobody was ever held to account but i want to just get back to the previous question is very important the only reason i spoke up and breached my gagging order and went and blew the whistle publicly was because i felt that i was in a unique position of being so senior that i knew exactly what had happened and what could be done to prevent it happening again and what is so sad to me is that we didn't use this as the opportunity to make the changes that needed to be made yes of course i'm in favor of a control free market economics that is the best way to bring people out of poverty but not the way it's currently done when fiduciary duties were invented for limited liability companies nobody dreamt that a company would have a balance sheet the size of a sovereign government and more power than a sovereign government so banks are one thing. and you know the. that the tip of

the thing but really we should have used the opportunity to make some very serious changes to all of these structures that i'm talking about and in particular remove the protagonist who have high levels of psychopathic attribute from the boardrooms of what is or gives the impression from watching this that you're implementing of the fact that things do work and because you did come forward you did have a gag order and you did reveal what you knew it but it didn't do any good it didn't help people to account it didn't get me a rogue a as a human being well i had to be honest i had through that period i had some serious mental health issues which were caused by the trauma and the incredible disappointment the excitement of speaking up and feeling that everybody agreed which they did and then nothing happening because the entire. response to the banking crisis was effectively controlled so it was a disappointment to me i'm afraid it is a very risky business speaking truth to power and it's not just the fact that obviously you you irritate the person who fired you and the people at the top but

it's when your friends are like the four winds because of the potential infection because you almost become part of a leper colony i never got another job after after this. and i am. an individual who knows what they're talking about i spend more time helping organizations to take more risk than the other way round because great risk management is like formula one racing it's not about slowing people down it's about making sure that the driver knows if they. had not to drive into the you know when the brakes to go and that sort of thing global thanks for the. former lehman brothers bank is a supposed to party in london tonight to mark today's ten year anniversary but what is mark telling me you describe the governor of the bank of england's previous employer goldman sachs as a great squid wrapped around the face of humanity think of their shenanigans and from the headlines of threats to the international criminal court and the european court of human rights. coming up

a bunch of going underground. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. spear in dramatic development only really exists i don't see how that strategy will be successful very. time to sit down and talk. still dollars. thirty seven billion of those are printed every day there's no backing there's no collateral there iou against a system that has twenty twenty one twenty two trillion in debt. not including the

medicare medicaid social security that would give it a under under thirty trillion. the walls already have on the table which they refer to that's discrimination and margin the lazies from the ukrainian orthodox church once. accepted it will presuppose that the ukrainian or so the church should change its name and that it should be named as a russian orthodox church in the u.k. it is something like putting the. halo. on the jewel at the ends of the day in this job. welcome back well in the first part of the show we had from each bus was a blur and all the pull more was fired for warning of

a twenty eight crash to give us some stateside perspective ten years to the day that over gambled on this overheated real estate market we couldn't collapse that problem has not gotten better it's got worse but we did it responsibly crashes we rehearsed all of those companies together and make them bigger and more dangerous so we're actually more susceptible now to another crash and we were prior to it with a twenty zero eight one was twenty trillion in the household debt so they're like forty times you know twenty fifteen medicaid budget sixty thousand dollars for every american you're saying it could be bigger the next time around if things are a full well they had to basically scrape together every. real and imaginary dollar that they could possibly muster from the treasury and the central banking systems of a world to patch the breach a get a gaping hole of debt companies a constant the fabric of the universe they're not going to have money the next time

the next time we have a gigantic bowl berth only solution they're going to be able to have you bill everybody out is a certain bet the money yes america. central banking process there isn't going to be enough there there just takes the problem next time so there is a lot of talk the last time we were just far away from like a mad max and their hero where you know tired economy collapsed and i think you know if they don't fix things that would be the future next time and just finally it's not only the ten year anniversary this week mark carney is had his contract renewed as the governor of the bank of england haven't heard him say that the ensuing austerity welfare health education law enforcement cuts run justified to pay off those banks what do you think about it does one of the things that all verdicts and of course join the coalition years it was a component battle between the tories and lib dems it's always wanted every single lever they could pull as far as you could pull it to monitor and soviet people and

we were saying how in a minute yes there's a problem we recognise the value of surveillance but you've got to go hand in hand with safeguards to protect privacy in an up whole democratic values you know because the european court of human rights which presumably leaving anyway says that whatever would snowden revealed it's fine to do well cook interception of all data i have no problem with dodging all of photos i have no problem with data being collected and stored the issue then comes who can access it for what purposes someone can always access it if they have everything we all do and everyone want to know there is about there is a balance as to who can access it what safeguards are in place to judicially involved was a politician deciding it and so on these are the matters we need to be sorted out and haven't been by the conservatives in government let's go on to the next story the great national security advisor of dollar trump yes this man's terrible john bolton vows to punish i.c.c. off the court announces probe of alleged u.s. ball crimes in afghanistan last washington and conforming to law school and maging

of long said and indeed to raise a may as refused to sign off the crime of aggression and the i.c.c. is dying. well i do think it is dying and remember the i.c.c. although it's not adhere to the latest suggestion aggression should be brought into the remit in the way that the courts suggested by the un to see if the important body is an international body that's all done some good work already but it's not just frankly for bringing black african dictators to court in which will it shouldn't be should be about any country in the world which violates the international norms of behavior should be held to account and to john bolton who is a warmonger par excellence to start telling us that the u.s. is exempt from this on the high pay no attention to it and even stop prosecuting judges i think is parts i can understand others of the i wasn't going to do that he has no point in saying well running as an international court to trump the will of the american people who vote for politicians by trump and appoint people like we

can avoid bolton because international standards of morality trump. trump national laws and it's an important safeguards in our world today to be sure we don't have to take this in government running out of control and john bolton's attitude is american to do with the hell it wants and they're pretty as can just live with it that's not the way america should behave is demeaning for america and is dangerous for the world you know and make a former minister of state thank you. well tourism may seem doggedly to try and use the last pm queues before another recess to stop politicians as we've been hearing appearing on this t.v. channel we all have doubts about the objectivity of the reporting of russian russia today which does remain a tool of propaganda for the russian state now decisions about appearing on russia today is a matter of judgement for each individual but they should be clear they risk being used as propaganda tools by the russian state we'll going underground categorically deny that any of our guests on this show risk any such thing we are regulated by

a u.k. agency and some may speculate a statement is merely symptomatic of a fear of real journalism certainly elites doubted this politician when he appeared on going underground to launch his leadership of the u.k. labor party everywhere you look mr speaker this government is failing one million families using food banks a million workers on zero hours contracts four million children in poverty wages now it's a tiny thing ten years ago i don't talk of that there's the fraud in failing universal credit disabled people risk losing their homes and bible supports children forced to use food banks called been slammed a litany of post lehman austerity policies he accused a pm who seeks to malign journalists doughty of burning britain down the prime minister is not easy not challenging the beauty and justice is in our society

she's pouring through on the crisis when will she start and thank you there's a ring i want to think this kind of the prime minister replied by way of identity politics before slamming t.v. journalists and then using blairite was supporting impeach to imply corbin was racist what have we seen from labor over the past few days everybody and state t.v. broadcasting no problem was. how do you investigate seeing anonymous and threatening letters about the decent action of labor m.p. . the same sunday of. the honorable member of the stress of saying that the neighbor is now an institution of a right to. run sunday but just think what he's done to these thugs i would call been turned britain into a racist country or as a media blaming tories i'm

a not just terrified about their own political survival you decide that's it for the show on monday we cover what used to be called the nuclear standoff in kashmir as well as go to brixton in south london to investigate the nation eighty's legacy unite behind to raise a maze with drug scandal till then keep in touch by social media with you know my big anniversary of the creation of the occupy wall street movement it's because he bought new york which would spread all around the world. because the swarms of them someone. who was before. much of those who herds of food you. see him we will. move. but he.

will show you this new beautiful world will believe you since collectors were. more muslim also he is they'll still be view films purdah good groove. they go to shows look but to assume you belong to show your story to go. to starbucks to go to you can fill it with the middle of the must see look it is it's. jim stashed not just institutionally it's a mash told. to strip the president and please control this project until. those we have produced because of this were too stupid to move to newark because those the girls are with you for this approach to your bush you shouldn't feel you should cook dorothy what was your desire.

back geysers financial survival guide. housing bubble. oh you mean there's a downside to artificially low mortgage rates not get carried away that's guys report. my wife he told me that i belong with the board if my thoughts my mind with that i'm along with the girls. under the surgery starts to be a very popular. form of what. doctors. i was born a male had a sex change when i was thirty years old. i've now been living as a woman for twenty eight years and i fully regret this. problem should have gone away from by now but they hadn't so these surgeries are nothing more than plastic

surgery i've had several female to male friends and you look at it and you just go god you paid for that it's horrible nobody can change genders is impossible. is delusional it's a mental illness. this is now one of my bones from flesh of my flesh she shall be called woman because she was taken out of from a. the

world anti-doping watchdog says it will discuss reinstating the russian antidoping agency is a member suspended in twenty fifteen amid claims of state sponsored cheats and. the french people who say that the u.s. is no longer a trusted that is present. to cozy up to trump once more of an official visit and his stay for twenty eight seeing russia's largest military drills into.