he had a choice and he made i believe the wrong choice that has resulted in not only trump but what we're going to see in the 2020 alexion with us we have dr michael hudson and randy bowler now the 2 big items that we saw from the 2008 financial crisis with the top 2 i have here too big to fail too big to jail it was always the reality but it became front and center and nobody can disguise the fact that we now live and it's to tear a con to me dr michael hudson should banks be too big to fail the problem isn't really just that they're too big to fail they're too big not to make older owners billionaires the banks that were the most crooked the largest banks have increased their role not decreased the role they've been rewarded instead of punished so it's not simply the 3rd are punished it's that they were given a $4.00 trillion dollars of bailout to make them even richer centrally too big to fail means you can drive all the small banks out of the business exactly

let's stay with the too big to fail too big to jail because when barack obama came into office he had the opportunity to punish these crimes and the voters wanted that that's why they voted for him he didn't randi why did he not do this eric holder as attorney general is comment about that some of claim that he was too close to some of these groups as a corporate attorney we did not have for a moment like they did in the past with the peugeot hearings the wheeler hearings when f.d.r. was president you had a series of hearings that actually dealt with the crash of 1029 i thought in america in 20092010 we have the same thing and we did not of course f.d.r. hired a journalist an investigative journalist to find these crimes you could have tuned into our show or there were a lot of great journalists writing about all the crimes that did happen it did but they didn't get punished you know andrew yang actually has a radical. i for dealing with this in the future and yang says that if he were to

become president that he would pass the public protection against market abuse act and this would create mandatory minimum jail sentences for financial crimes and of course we know that it was biden clinton those sorts that passed those mandatory minimum sentences for crimes in the hood this would bring it down to wall street but also they would be mandatory minimum jail sentences for c.e.o.'s and this is the radical part the largest individual domestic shareholders should shareholders be responsible for these crimes at these banks and i think wiping them out would be sufficient. and that's what would have happened to citibank all these but the big banks were all basically bankrupt citibank and bank of america and all of the big mortgage fraud banks had 0 net worth they had negative equity the shareholders

should have been wiped out eric holder said what about the wives of the shareholders and the little kids they would have suffered and it's worth sacrificing the whole economy it's worth a depression for 10 years so that the wife of the shareholder in the little kid in school won't suffer right they still have negative equity negative net worth to make that work so they have introduced negative interest rates to somehow make negative net worth palatable in some strange way but going back to the 1929 crash and then the pechora commission as it was called and many bankers went to jail and then introduced many reforms like the last eagle alike other reforms that were aimed at getting rid of the abuses that come when as even and a smith said when you put 3 businessmen in a room they're going to collude right he wrote the theory of moral sentiments that was the body of his work only one volume was about the free hand the invisible hand of the market capitalism. and so why did we dismantle all the stuff ok reagan

started to dismantle all the stuff under deregulation but why would every democrat like clinton also dismantle all the regulations and obama dismantle all regulations when the obvious result has been abuse fast larceny and an economy that's unstable it's because of who's funding the political parties so that the top level the left wing in the right wing of the parties are the same and the further you get out on the swings toward the people they're not connected so they made you know if i'll stay in bargain at some point and said we want to seek funding from the lords of wall street in these industries and we're going starting with what reagan did in 82 and repeal the notion of stock buybacks which was a very significant repeal all the way through to us to go but there was a series of legislation that during those years and don't forget congress was controlled by the democrats a lot of the time when reagan was in there then eventually the republicans got control and for whatever reason bill clinton under the influence of you know robert

rubin and others decided that we were going on least the potential of wall street but by unleashing their potential it was terrible for main street as bill clinton was exiting office basically he repealed glass steagall he introduced the commodity futures modernization act which allowed the explosion of these derivatives in which a lot of the fraud was hidden and even warren buffett called it the weapons of mass financial destruction to us right before the financial collapse did happen and again you know you can't escape 1929 because that was when after that crash that we had the classical act introduced and the pechora commission at that time they got j.p. morgan hauled him before the senate we've never seen somebody these sort of powerful guys call to task and in fact hillary clinton when she ran against trump and lost against trump it was partly those leaks of her talks. to goldman sachs on the eve

of running for president that she was basically promising that she wouldn't go after them so the holder doctrine eric holder former attorney general under obama this is the idea that banks are systemically important they can't be prosecuted because this would be a danger to the society as a whole what's remarkable is that this idea has bled over into other industries so now boeing has a major scandal on its hand and it's claiming that it's just a michael important law doesn't apply to other agricultural companies are saying now we're systemically important we're above the law now that is leading to beyond a kleptocracy this becoming i think it's a caca stock or c. is the right word it's ruled by the least qualified are now in charge of running the economy and the results are obviously catastrophic they are catastrophic but i think that this is this strange idea that we don't hold people of our same costs accountable and that's why the 2010 elections happened unfortunately as a rebuke to president obama because people wanted accountability and we did not get

accountability what we got was a half baked healthcare plan that took an awful lot of arguing to make that frankenstein monster and a few other things but we did not get a catharsis we did not get accountability and people on main street out there knew it and they call b.s. let's talk about the systemic nature of this ok where again we're here in brooklyn right across the river is the financial center wall street midtown this is where all the banks are trillions of dollars not only just directly at that time $4.00 trillion but another 10 trillion and printed money and lord knows how much they're actually printing for them was it thrown into a black hole essentially and what about any of the ideas for example bernie sanders and elizabeth warren are the 2 big names in terms of what they want to reform wall street. of course restore glass steagall what the restoration of last eagle for example help what a financial transaction tax help would bring. the big banks help the glass steagall

has already been so violated and there's been so many to gether that they're going to say well now we've merged and you can't undo the merger so it's almost impossible to approach it that way you have to approach it by a whole new set of laws that will do things that. had never anticipated that banks and the wealthy people would make their wealth not by lending to create factories and employing labor to produce goods but just lending to inflate stock prices to inflate bamn bond prices and having the federal reserve pump money into the economy not to help the economy as a whole of main street but slowly to help the bond and stock markets and to support real estate prices making people thinking that the economy's getting rich by making people go further and further into debt to afford to buy housing and education and everything else nobody had dreamed that the economy would be so turned inside out as that has today so you need much more than glass steagall you need

a whole restructuring of the financial system and the tax system without a computer the profits for the last 5 years have been flat but the stock price has gone up because a massive stock buybacks they've shrunk the float makes earnings look better so what's your point it's not about manufacturing it's not about even showing a profit on which it stay you sell for more than you make them for it's only about accounting fraud accounting manipulation and market manipulation and so why is that message lost on the democratic party i mean what i'm hearing is like well the donor class supports it so they're not going to mention it and what i'm hearing they're force every single democratic running for president candidate is corrupt i mean you're saying that's not a single democratic candidate that's not either overtly or or less overtly totally corrupt i'm not saying that i mean but i do think that at some level the dean. n c

are not the candidates at some level that those at the very top have to rely on this very small donor class and they create arrangements between the democratic national committee and the state parties to essentially commit money laundering to get around the rules that are made by the f.e.c. so you can move monies to the hillary victory funds and so forth but the basic thing that is going on here is that the people that run the parties don't want to actually change the game and bernie has changed the game elizabeth warren has changed the game what they're doing is showing that i can raise money from anyone around the country i don't have to have you know cocktail tar parties and events with you know high dollar donors to fund my campaign i can have us fund the campaign at $27.00 at the time that is an anathema to people that run political parties or organizations at the top because they like to be around these folks they like to hobnob with these folks they like to feel important and to your point about

why you can't get that to penetrate downward it's because we are sold on this notion that are for a one k's or an indicator of our quality of life and our happiness and so even though most of this wealth is going to a very small group when you're nominally when you're for a one k. goes up especially than gen x. or in boomers you think you're wealthy too but the fact of the matter is you're not and when 2008 crash most people lost most of the paper wealth yet they were in debt because they were borrowing against it good point and we'll pick up on that after the break don't go away more front running after this.

so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race in this on off and spearing dramatic development the only place really i'm going to exist i don't see how that strategy will be successful very critical time time to sit down and talk. i can show you my face but i'm going to tell you my story in 9093 this man was sentenced to death. they could charged with capital murder even though he didn't have the gun didn't pull the trigger didn't intend to kill anybody imagine living

in your bathroom for that week with his son of a $23.00. confined within 4 gray walls he fights using. are to help him to leave this room. oh go back to front running 2020 with max kaiser and stays there over the last day of reform reform not here not on wall street you can't swing a dead cat in this town without getting some obese bailed out banking nightmare you know i understand that if you give dogs 20 pounds of dog food to eat they'll eat it all they'll eat themselves to death you know what billionaires if you give

them a 1000000000 dollars from the fed for nothing costs enough and for that money that they're borrowing costs 0 or you pay them to borrow money from the fed why we blaming them we're just giving them billions of dollars they're just asking for it they got it so there's got to be something more systemic that we need to address the democrats like elizabeth warren oh this shouldn't billionaire shouldn't exist and billionaires are the problem that's not the problem they're the symptom of a deeper problem why why don't why don't the democrats just financially illiterate i mean is the base just not educated why can't we get into the nitty gritty of all this and talk about the money supply the federal reserve the cartel that is the banking system the rico act for jamie diamond for nipping any gold price that's you know in a lot of cultures in the past it's a hanging offense you know why are we still timid i don't think that the activists are timid i think that there's a basic financial literacy amongst people in political parties across the spectrum and that you know the things that you just discuss

a max most people aren't aware of and those that are usually label conspiracy theorists or don't upset the apple cart and then as the further you go up and you're dealing with the donor class a lot of the donor cost comes from those folks so you're told again don't upset the applecart because we're relying on these people to bundle money to help elect political candidates if you're an american you're live and out there in the plains to the great plains or the the south or the north. and eric holder the attorney general says that there's a separate rule of law for bankers ok doesn't that kind of the law stick in the craw of your throw it out of american don't have a basic decency to understand why that's not a good thing they do and in fact people do understand that and one of the things in my movement within labor years ago i was told by some guys that were on affiliates and independents that should be pro democrat and generally are they said the problem they have with democrats is when the bullets fly they duck so what they're

saying is that when we're in a fight they're not willing to stand up and push back and when we were in a fight against big finance we didn't stand up and push back what we did is we we cut back room deals and we didn't prosecute people everyone i was a member small town you go in and you rob a store and commit a crime you're probably going to get arrested and serve time everyone understands that what they can't understand is why people don't serve time for white collar crime this is what front running is about it's more than just the individual candidates or even the policies it's there's a shift going on and there's a distribution redistribution that is wanted you see all these millenniums now they show in polls that they support communism actual communism not just even socialism so i think this is a result of this sort of especially of the too big to jail and too big to fail because if you think about it since the financial crisis we've seen a tripling of the student debt now thanks to joe biden those millennial can't ever

discharge that debt but they can see with their own 2 eyes that the economy by the way they graduated from university into that economy that was crashed thanks to wall street they could see with their own 2 eyes that all of wall street got bailed out of chile and trillions and trillions we're talking 14 trillion that's 10 times the whole student debt load and all of the. or bad debts got forgiven essentially michael hudson where does that lead to lead to the same thing that led to at the end of the roman empire there was a revulsion against wealth against luxury and it led to austerity stoicism and christianity and even the banning of interest every action creates the equal and opposite reaction so you have newton's law of politics at work so the task of the democratic party is how can we disenfranchise the you how can we disenfranchise

their candidates their solution of course is through the 50 percent rule so that whoever the people vote for in the primaries that's only a cosmetic thing and it's really the 10 members of the national committee that will last their donor class on wall street who we appoint and they'll appoint. whoever is going to be the representative of wall street at these d.n.c. members and these party elite the neo liberals the likes of joe biden the likes of hillary clinton they were filling while rome burns while wall street burned the economy burned they get conned has burned to the ground 80 percent of corporate profits 0 are going to stock buybacks and dividends since they got bailed out since we keep churning trillions of dollars into wall street none of it is ever going to go to the millennium to the new generation to the younger generation unless something happens who is going to change this well you're going to have to get a change of the top and you're going to have to get someone elected president who's going to have a different treasury secretary and other policies are going to come out but the

fact of the matter stacey is what you point out with the stock buybacks that's been a policy that's going on it's gone on for quite some time and in the most recent tax bill that was passed by our president you can see there they promise that all this money will get invested in job creation most of it sitting on balance sheets and what's not sitting on balance sheets is gone into stock buybacks and people are starting to get more educated out there and they can see it and you can smell it and you can feel it and it's. wrong and what i said what i would say about it is the people that are our best in our society are those that have the most resources should practice nobu sibly but instead what i see practiced is something in the south they call their eggs sucking hounds they're supposed to protect us from the foxes but they're not they're going into the hen house and they're eating the eggs their eggs sucking ounce bottle is with one for a 2nd because she is naming names and she is calling folks out and using terms like criminals and looting and the response amongst the money class like

a leon cooperman is immediate they go immediately go on c. and b. c i haven't seen leon cooperman on t.v. in ages he's suddenly on t.v. crying cheers pouring down his face i'm. helpless billionaire don't take my money when there's a little image of. bill gates on t.v. saying well i paid 10000000000 in taxes but i'm not sure i'll pay a 100000000000 and suddenly they pop out of the woodwork like worms on a rainy day squawking that oh my god if you even take a penny from me all the innovation stops americans dead you must keep continue to make billions for me and only me but her rhetoric will it have traction because it's very different than bernie's rhetoric is bernie's suggesting and actually different system called socialism warren is saying hello i'm just going to attack these guys as criminals would you prefer attack pleases me because i am oh i would love to see people who break the law and face some consequences when you think well

you have to see from whence they came in she's an attorney that came went to law school as a single mother and put herself through there and she is looking at it through the lens of a law professor and using the legal route to prosecute these folks bernie came up as an activist and was elected mayor congressman senator he's looking for political solutions but they're both looking at the same problem that smolin else seem to gravitate toward this bernie name and they're not really. thing on the list but warren style what do you think ultimately would do better to actually restore some semblance to the american economy i think bernie sanders would be the better choice because i think that he having served his time in the u.s. senate and congress and having been a locally elected official he understands systemically what's going on is he perfect no none of them are perfect but i think he's going to try to put prescriptions out there that are going to going to go the furthest from the best for instance he wants to wipe out student debt and has a plan then to make loans after that very cheaply so dr michael hudson what's

better is it going to be socialism or bring in a new book or a committee commission to wipe out the bad guys commission isn't going to make laws you can have a commission and all it would be would be a. glorified mexico is their show at best but what you need is a new set of laws but to make a new set of laws and to get a good president you need a new political system the political system is not going to let bernie sanders get elected president they've already decided who the press the democrats have the president already is president he's their problem is how do we find someone who's so bad that hill lose the president really following our well 3 policy they can't quite come out with biden because that's too obviously throwing the election so they'll probably pick out maybe somebody like bloomberg at the last minute but in terms of wall street reform the fact is that actual trading is almost entirely

high frequency trading so would bernie sanders idea of the financial transaction tax tobin tax it's called in some parts of the world would that help in any way sure a financial tax even better it should be much slower you want long term ownership you don't want instantaneous computer transactions you really want to slow it down the average time that the stock is held in the united states is i'm told 23 seconds that's really short term short termism. you're don't want that high a turnover as long as you have the stock market all about gambling and probability theory done by computers you're going to have it disconnected from the economy the stock and bond market has been disconnected from the economy except to impose a lot of overhead and to wall street's product is interest to load down the economy with interest that burdens that them so the financial sector doesn't contribute to g.n.p. the financial sector crushes the economy crashes g.d.p. crushes personal income for everybody who's not

a billionaire the name of the show is front running high frequency traders are essentially front running slower investors like pension funds when they make a big investment in microsoft or apple. run all those huge trades so again you're being scouts all the younger generation are being scalped by wall street and i believe what you said is like you need a revolution because it's not reformable at this point is it not it is not reformable that's the point it is a crisis and it's absolutely stuck and it cannot be changed the way it is you cannot have a marginal change if the dynamic of the economy is depolarize being a centrist means to support the status quo to go along with the status quo and to let it polarize more and more there has to be a political revolution and of course there was and rome and the leaders of the

reformers were all assassinated that's always spent the last tactic of the financial sector assassination that kissinger said you can't have a free market unless you're willing to assassinate everybody who disagrees with you we won't let the chileans vote wrong and the university of chicago again they're willing to kill and you can't have this kind of a free market and you talked about innovation the innovation is fraud. that's the innovation the innovation is buying control of the federal reserve over regulatory capture that's the innovation they've they've innovate of the economy so that they have locked at their own against the whole rest of the population making the americans youth look like the greek youth in the baltic youth who are they going to emigrate to i don't speak russian or chinese but a little marriage is leading in fraud innovation and fraud an estate number one trochaic all time highs on wall street we call that

a free market randy volatile wall street reform is it possible well i agree with my appear over here that it's not really possible unless you get control of the leaders a government which would mean the u.s. senate and congress and unless you have at least 60 senators it's not going to be possible because it's going to be blocked so i think you're going to need a more systemic reform and that would require some form a robot lucian that's going to come straight from the millennial and they're going to have to keep voting locally statewide in federal elections until the message is heard right and that's it for a front running 2020 with max keiser and stacy while we were just front running the front runners here on front running 2020 and the next time.

in this community there are people who believe that it's ok to something we don't like it's really hard there are no jobs and you see that i've got kids. and as a parent. i think. there's a lot of conflict in the game between the most of the conflicts i would say. and most of them. close one on each other's each other is good business the state of california alone makes $6000000000.00 a year of prison complex is. a life where. you don't care.

in 24 to you know bloody revolution of you to the demonstrations going to be relatively peaceful protests to be creasing move on. really lucian is always spontaneous or is it just the way he. put. the blues of the new school in new to the former ukrainian president recalls the events of $24.00 g. and. those who took. even vested over $5000000000.00 to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. i don't trust medical authority at all ever and the reason for that is i had this horrible autoimmune disorder growing up and it turns out it was completely alleviated with very drastic dietary measures and i went to

a number of doctors to discuss what happened to me and i was basically laughed at like diet has nothing to do with our meanness orders so my suggestion to people who have health issues they can't figure out if they're going to see a medical professional and they've been going for 10 years and they're still in the same place they should probably take it upon themselves to start testing things out testing out diet testing out exercise and try and figure out things on their own. yes.

further down on the probe on the international chemical weapons watchdog into the. syria adding. a last minute legal intervention could see a killer. on the streets of britain after $25.00 violent criminals. it is not my responsibility to pay for a foreign national to commit crime in my country. using the offense many years ago since then i mean obviously it just shows how we have in our own criminal justice system. representative of cyber threats coming from.