collapse and then came to the rescue of all their friends well they wrote an op ed about basically concern trolling that there could be another financial crisis and first pointing out how much they as you know federal reserve bank chairmen and people involved in that helped rescue the system back then they said although we and other financial regulators did not foresee the crisis but kaiser foresaw the crisis i might add we moved aggressively to stop acting in its traditional role as lender of last resort the federal reserve provided massive quantities of short term loans to financial institutions facing runs while cutting interest rates nearly to zero the treasury department stopped iran on money market funds by providing a backstop for investors the treasury also managed to take over the mortgage giants fannie mae and freddie mac. and worked with the fed to try to prevent the collapse of large systemically important financial firms the federal deposit insurance corporation guaranteed bank debt protected depositors by the way the title of this op it is called what we need to fight the next financial crisis for

a while the key phrase there is they run on money market so in a functioning economy there's no such thing as a run on a money market you have trade you have business you have an economy and it's a zero sum game unless there's something amiss unless you have a bad actor who is issuing an collateralized receipts into the economy unless you have a bad actor that's printing bogus claims that cost bogus trading that causes huge wealth concentrations and corruption of power by being funded by these bogus claims that bad actor would be the federal reserve does bogus claims would be the us dollar the enabler would be obama's friend timothy geitner the enabler would be one of the biggest crux of the century ben bernanke they are worried that if there is another crisis their paper claims on collateralized unbacked. scheme that is the

us dollar in the u.s. government will be forced to make good on these false claims that they print by there's thirty seven billion paper receipts bills for it it every day thirty seven billion bills dollars five dollar bills ten dollar bills went up a hundred dollar bills thirty seven billion of those are printed every day there's no backing there's no collateral there ious against a system that has twenty two twenty one twenty two trillion in debt. not including the the medicare medicaid social security that would give it a hundred hundred fifty trillion and that yeah but let's go back to the two thousand and eight financial crisis and the collapse of lehman brothers one thing you mention the one collateralized part that. you know the ordinary american does get blamed for it the subprime borrower but in fact if it had just been the

subprime borrowing and if smith who wrote condon naked capitalism dot com pointed out that it wasn't that had it just been those mortgages of some prime mortgages the faulting in a normal banking system a normal financial system that would just cause the hit similar to the savings and loan crisis a little bit worse but contained what really happened where that c.d.'s and all that basically the paper claims on top of it so well street had created four to five times the economy of the united states in short positions and and synthetic shorts and now you mention the savings and loan crisis yeah ok so the seventy loan crisis was an example of paper claims being created that had no way of being covered it was a counterfeiting scheme a ponzi scheme where. john mccain rescuers already we talked about this of weeks ago or so fifteen or bankers went to jail yeah because they committed fraud now what happened after the savings. long crisis is banking reform yes and what

used to be illegal printing fraudulent paper claims was made illegal yes which gave us the two thousand and eight crisis as a repeat four times bigger ok but nobody went to jail nobody went to jail second barack obama kirk now ok we're going to go into that because right now resistance a celebrated and there is like an anonymous person in the white house who's releasing resistance op eds also to the new york times but there's also another recent piece we're not going to go into that but people should look it up and it's talking about the resistance that was in the white house under obama and that was timothy geitner because he moved from the new york fed to the treasury and he was in the obama white house and on in march of twenty two thousand and nine barack obama did finally he was resistant to this but he did finally approve the breakup of citibank not many people know this but in fact what happened is timothy geitner slow walked it he didn't want to break up citibank he wanted to rescue his friends on wall street and in fact he defied the he was the resistance within the white

house and he did not bail out he did not break up citibank instead we have what we have today but he timothy geithner ben bernanke and hank paulson wrote this op ed in the new york times and basically what they're saying that is the problem right now is when this next financial crisis hit congress has removed the power for unlimited bailouts so he says that he's saying we need that power for unlimited bailouts no matter what now matt stoller who writes often we cover him often he writes on monopolies and he has an interesting take on what this op ed that timothy geithner ben bernanke and hank paulson wrote and he says the basic law of geithner paulson bernanke is the argument that now regulators have no bailout authority leave aside the various misleading elements here yes they do they just have to ask congress which is the most democratic branch of government they are arguing against democracy they. are angry the people have some form of attack on their right to do

whatever they want during a crisis they are couching this in terms of the need to stem panics they are pretending an attack on democracy is a technical point it is not so what they were arguing they were using the pages of the new york times op ed to argue that you know we have too much democracy we shouldn't allow the people to have any say in the unlimited bail out of banks in the next crisis and if what bernanke day there and is the third plan there bernanke and geithner possum and paulson hank paulson who who warned all his friends i call way back to where i had went before congress and said bannon it's crashed the market the term this is an admission of guilt this op ed piece and the new york op ed piece they're saying the crisis we're guilty we had no constraint and we printed seventeen trillion dollars of bogus claims that are on back we just printed them out of thin air there's nothing to back them to bail out our friends

that's an admission of guilt if they're not prosecuted now after admitting the crime if i go to the court i say that you know my nation guess what i murdered somebody and the court says go away we don't we don't murder is not a crime anymore so geithner and paulson and bernanke you they think of all the hardship think of the poverty think of the opiate crisis because of people lost their homes people dying in the streets queuing up. those guys put the needle in their arm and they killed those people and they admitted it and the new york times i know there's no prosecution there's no law there's no law in this country there's this america there's no rule of law ok so let's get away with murder he concludes this twitter stream that there are many ways to do ballots but the obama bailout did not stop a depression it stopped a new deal and that's what bernanke and geithner paulson are after that's what they got we needed to stem the panic we did not need to rob the middle class to reward

their cronies so as you're saying this is this is a way of saying what you're saying is that they did rob the middle class and timothy geitner is and paulson and bernanke here are saying that they save the system well there are many ways to save the system there are ways to do the bad this should be discussed and said like all our public discussions are nonsense and about the way to save the system is for other countries to get out of the dollar the dollar at no collapse they're citizens of america and we are and. so there is bound to bless me there on to the next headline will about j.p. morgan the biggest bank in america and they also receive the biggest bailout because you know they were the biggest bank in america with the biggest derivatives but j.p. morgan is thinking pitchforks and fed stock buying in the next financial crash so if you thought the u.s. outlook could not get any more dystopian think again j.p. morgan chase issued a report earlier this week to mark the tenth anniversary of the two thousand and eight wall street crash and provide its outlook for what's ahead j.p. morgan suggests that the next financial crash may be so cataclysmic that the

federal reserve may have to enter the market to buy up stocks something which the central bank has never done before in the u.s. or at least acknowledge doing because stock ownership is heavily skewed to the one percent j.p. morgan then goes on to write that this may be controversial in light of the potential impact of central bank actions in driving inequality between assets owners and labor. so as you we've seen for the past ten years wealth and income gap has skyrocketed in america based on the the bailout that timothy geitner hank paulson and ben bernanke he were allowed to orchestrate and conduct it was a panic situation so in panic and crises moods and disaster capitalism they're able to like move without any discussion there were there was never a discussion to bail out all the mortgage holders to keep those mortgage holders in their home over a million americans lost their homes and the bankers were bailed out so now we're

already seeing that the op ed in the new york times there's no you know somebody from occupy wall street is not able to have a counter op ed in the new york times saying dude's like let's let them fail this time. because of her having another crisis that means that no no no no jamie dimon is saying that there's another crisis coming yes and it's putting a gun to the white house head and saying you have to buy our stock to preserve my bonus because i'm jamie dimon and i'm itching and you're just clubs you're the serfs you're the scum you say america are stuck. ok saying that right now these preloading is crime he's preloading his crime and let this is them i'm going to read you get away with it i'm going to read you the actual words written by j.p. morgan right here these are the words of j.p. morgan the next crisis is also likely to result in social tensions similar to those

witness fifty years ago in one thousand nine hundred sixty eight in one thousand nine hundred sixty eight t.v. and investigative journalism provided a generation of baby boomers access to unfulfilled information on social developments such as vietnam and other proxy wars civil rights movements income inequality excedrin similar to one thousand nine hundred sixty eight the internet today social media leaks documents keiser report they don't write that but i add that provides millenniums with unrestricted. system information on a surprisingly similar range of issues so they're saying that the internet may make it. the next financial crisis and when the you know the us federal reserve and congress comes to our rescue again and even starts buying our stock so that we are always made whole the internet basically they're suggesting the internet should be monitored that maybe twitter might be dangerous in this situation if people can speak if people can gather if people can know the truth about what's happening exactly so nine hundred sixty eight was was

a seminal year yes ok well all very well rise up again well we'll see because they're on their own. hey we got to take a break but when we come back more fun. awards already on the table which. that's discrimination and margin the way zation of the ukrainian orthodox church once. if except it will presuppose that the ukrainian horse in the church should change its name and that it should be a name to the russian orthodox church in the ukraine it is something that puts into the. low. on the georgians the in the.

twenty four to you know bloody revolution to the demonstrations going to be relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it you know we hear pretty meaningless put pretty good neighbor lose out on the political the former u.k. . president recalls the events of twenty four g. and. those who took. invested over five billion dollars to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. two thirds of american host schools do not have five hundred dollars emergency. as crazy. population doesn't have money and you

money maintaining thirteen aircraft carriers around the room why why do you change your policies and do something that is good for the group and good for america in the long run. welcome back to the kaiser report i'm asked times are time now to go to cancel or stay he's the founder editor and c.e.o. of washington babylon dot com contributing editor of vice and washington babylon columnist at the observer can great to have you thank you all right now the reason we have you on that is because in two thousand and eleven you wrote a piece for salon dot com about the neo cons pushing for a new cold war and it's getting a lot of attention today it's fair looks like those wonderfully president now those near cons of twenty levon have got their cold war two point zero and so talk about

a little bit get on well i mean this is really a continuation of more than a half century of. an aggressive american foreign policy we always need an enemy for a variety of reasons one is because of the enormous influence of the military industrial complex which is you know let's face it i mean if there's a war they make bucks and there is also a foreign policy establishment that deeply deeply believes in the idea of american exceptionalism which i think an extraordinarily offensive idea the idea that this country has some. principle some standing some stature that is greater than any other country on the planet of course it's what every empire in history has promoted as its ideology that we are the you know rulers because we are the best and so you have this this belief in the right of the united

states to dominate the world financially and militarily if necessary it's great i mean it's been great it's seems to me that the system is petering out i mean we're reaching the end of the american century. very clearly but you know it it's. benefited in some ways u.s. citizens because our wealth is in some way very much derived from the control we exert over other parts of the world certainly oil industry we know keep gas jape what our visions of iraq and all these other countries and controlling that whole market i get that there's a military industrial complex i get that the war is america's number one industry and i get that we make a lot of money selling arms and from out in the war what my through the because you know your piece really kind of predicted the cold war two point zero because at the

time it seemed like russia was not going to be a threat at all that the the collapse of one nine hundred eighty nine period one nine hundred ninety you know the u.s. basically meddled in the elections over there they put boris yeltsin in under clinton who called him his guy in washington time magazine ran a cover story bragging about how they manipulated or that this election and now what was another russia and so but it's period so there weren't going to be much of a threat there but when did this new cold war thing kick in was it i mean i can think of a couple of points that kind of jogged people into thinking like this but what was the crystal point that was like ah it's back to cold wars back to russia is the enemy that's a really good question and i'm not sure i can pinpoint that moment i mean i do believe that as a necessary component of foreign policy the united states seeks to.

needs enemies to produce to put it simply i mean in order to to justify the insane military budget and various insane in my view and certainly. not very successful foreign policy adventures in afghanistan. iraq yemen which we are deeply involved in on and on and on let me ask you this. you got a guy named bill kristol right now it wasn't too long ago that liberals in america were talking about bloody bill bill kristol neo con he's a guy he's just he's a war monger and now he's being lauded by the leftist he goes on rachel maddow on these shows and he's he is considered to be a hero amongst. what do you make of that it's an astonishing fact i mean kristol was one of the leading proponents of the iraq war everything he and his neo con. colleagues who promoted that war for everything they predicted

with catastrophic we wrong i mean this has to rank as one of the worst foreign policy it ventures for lack of a better term in american history the idea that this guy is now even i mean he you know he shouldn't be allowed on t.v. i mean the guy has i mean it's not an exaggeration to say he has blood on his hands as one of the primary architects of that war a lot of our thoughts and rachel maddow how can she go from being hot that make this one hundred eighty degree turn and now is it is is it pure the analogy is it just is purely corrupt and has no integrity whatsoever and we shouldn't expect that in american media anymore well was definitely shouldn't expect it american media anymore i mean if you know over the last few years we've watched this absolute degradation over the last twenty years but who else years in particular but no it's this part is easy to explain it's trump derangement syndrome bill kristol and

a lot of other people who liberals and even some lefties would normally. shun in discussed you know people like james clapper you know brennan i mean these former senior intelligence officials who were deeply implicated in the catastrophic and immoral war on terror quotes let me put that in quotes and some really hideous policies and that you know and s. a surveillance torture these people have been rehabilitated because in the eyes of the quote resistance the enemy of my enemy is my friend and there is a desperate effort to bring down trump however it's done i mean there's an attempt to get him out of office whether it's impeachment or forcing him to her resigning or muller setting a perjury trap for him to move which i have to frankly say you know that's a real risk because trump has a very difficult time telling the truth but the fact is this whole scandal

originated from a fraudulent narrative which was that the trend in my view fraudulent that the trump campaign openly and actively colluded with a lot of your putin that it has never been proven i don't think it is ever going to be proven because i think it is false but because of this hysteria and obsession with removing donald trump from office all of these people have been rehabilitated and dredged up again as foreign policy experts even though a guy like kristol has you know i mean i can't think of a figure in recent american times who has been wrong so often and so catastrophic leigh wrong with such utterly horrible consequences i do want to say that i am not a fan of letting their putin you know this is in no way this is the danger we are in now in this ideologically. curable dangerous time of narrow narrow thinking people are incapable of holding two thoughts in their head the same time i

believe that donald trump i'm not a fan of trump's i oppose many many of his policies i find them a point i mean his policies on an immigration to me are absolutely horrifying the tax cuts i oppose whatever you got it you can't teach your president because you don't like him i mean the right wing tried to do that with obama and now the lefty wife wouldn't even say left sort of liberal spectrum of american politics this is a you know trump is a guy they're not comfortable with i understand that in a sense he's not a member of the club they don't like him hillary clinton would have been a better steward of capital and they tried to stop him from becoming president and since then they have tried to they tried to block him from taking office i don't think it's an exaggeration to say i know for a fact that immediately after the election a group of very very wealthy donors got together democratic donors got together and conspired to come up with

a plan to either block from from taking office or to impeach him so i asked us about something. would it be fair to say in your observation that donald trump has a world view that skews toward peace and then talk a little bit about that because my question is that it seems that they're not really against trump is that they're against peace i don't entirely agree with you there i mean i understand your perspective i believe that trump has views that are very unpopular and run fundamentally opposed to mainstream american foreign policy views he's entered nato he's expressed. views on nato that are very very. scary

to their foreign policy consensus all of the way to nato air for a second because ik a their mandate for nato of course you know was not to push east and sit on the border of russia for and i think russia i think rightfully is quite nervous about that because even during the world war two they didn't have germans you know parked up right on their frickin border you know berlin was quite a ways away so you know this is not obviously if russia star parked a bunch of tanks on the mexico u.s. border or the canadian u.s. border i'm i'm i'm sure americans i mean that's rightfully would be upset right would be upset and not only that the media would be outraged about the appalling actions of russia and the war probably so it's i mean the nato is a completely disenfranchised selfishness and it has to be it has overstepped the bounds of what it was created for is really a hard understand what the why they even existed and it exists for one simple reason it says that it's

a record tearing operation to continue to sell american weapons are broad it is a useless organization it should have been disbanded i'm ok ok nato for a second can only decide when it is saying that the year on nato is that if i may say minus standing is that it's a bloated unneeded archaic institution that we can reform or get rid of right so you're kind of simming i agree with that and i agree with that i just i think trump is being moved in very different directions by various factions within his administration. and so i don't and that is why i would not say that i believe he is a man of peace i think that i do believe that quote resistance the rachel maddow has the you know the it is this broad you know i mean everybody from joe. john mccain became a resistance warrior i mean for god's sake clearly john mccain is a man

a war he wants there's no question about our bomb bomb you know if you carry more of us about those bombs he war kill that was john mccain he's on foreign policy the man was a monster there's no question about it in the fact that he died should not make us create some mythology about him. but in any event i do not for a second second the it was just getting good it's going to continue gassing about for now and all will talk again another segment but thanks for being on this segment thank you that's going to for this edition of the kaiser and for with me max kaiser and stacey everyone i think our guest can some are saying it founder editor in chief of the washington babylon dot com join to catch us on twitter it's guys report the next time by yelp. join me every thursday on the alex simon show and i'll be speaking to guest of the

world of politics sports business i'm showbusiness i'll see of that. room see the who of them so moving. and good viewers who moved before. much of those who heard the preview. to see him we will. move. move. move show you this new. good. move slow most of these girls who did you go good goof. go to shows look but do the same you belong to sure you. should go. home to get to meet until it was the middle of the most dates you look at israel.