the bank never notified us of this. three days before the directors hearing on february 8, the title changed. staff did not know that but we have subsequently become aware of that and a copy of that deed is in your package. the property owner that was notified 10 days before and an order was issued on the property. what happens in these cases is we have access to the recorders information. we go online to see what they recorded documents are that exist. the problem is, when there is a new deed that is reported, it is not put into the system right away. so the system does not have, in real time, that information because there are things that are beyond our control, namely data entry from the reporters office. as you can see from your records, we did not know -- it did not show up as the current owner of record -- until we said the bill out several months later. on july 15 of this year, ms. fong became aware of the order of abatement. i sent a letter to the letter of directors -- board of directors asking for the assessmen

it's funny because the u.k. banks indebted to the irish banks and vice versa so do other words the u.k. population is actually bailing out irish banks yes but they all waiting out our banks but what what's always annoyed me even more here is the beginnings is the beginnings of a sort of xenophobia backlash with the germans saying oh we're bailing out those feckless greeks and the tabloids here saying muffing docu about bailing out the irish where is you and i both know the half of the money that's going to be taken to ireland to the irish banks will then be smartly returned to british banks because it's the british banks who we're ultimately bailing out so we will blame the irish but get them to buy a loss out seems to me to be doubly on just right so you have all of this this bailout money and debt extending and pretending ending up generating thing. these for the very bankers that create the debt to begin with no g.d.p. growth no one to line growth unemployment is skyrocketing now let's get back to generation debt f

the u.s. has which is banking oligarchies because according to the article the banks were keen to lend out this one trillion pounds or over one and a half trillion dollars for many of them their business model depends on the growth of their loan book the chinese central bank has set interest rates on deposits of two point seven five percent and loans at five point one percent giving the the banks. difference between the two and profit well that's the way banks should work that's the very nature of of banking right there in a nutshell but the problem is when banks don't hold any of their capital on reserve and this is the problem the global banking system in the us china and elsewhere it's ok to engage in classic banking as you just described but if you have no cash on the books in reserve if there is a need to step forward was some money and you have done you have the huge crisis that we saw in two thousand and eight which is going to be repeated in two thousand and eleven because these banks still have their money on their books they're engaged in the suit global ponzi scheme and china's at th

the bank bonus tax raised net 2.3 billion pounds. and the author of that tax is sitting over there, the former chancellor says you cannot go on introducing this tax here year after year. the bank levee will raise 2.5 billion pounds each year once it's clearly up and running. >> yes, yes. 2.5 billn, even the shadow chancellor can tell him 2.5 billion is more than 2.3 billion. and with the magic of addition, if you have a bank levee every year, which we supported and he opposed, they said don't do th do it, remember that, we will raise $9 billion compared to his 2.3 billion. even the shadow chancellor can work out that it's bigger than 2.3. >> mr. speaker, i think that is as close as we get to an admission to the prime minister that he is cutting taxes on the banks. the obr is clear they raised 3.5 billion pounds and he will be raising 2.2 billion pounds in the bank's levee. he can't answer on banks and bonuses. we know the business secretary is not a man to mess with because he told them he had a nuclear weapon in his pocket and he was

on reserve and this is the problem the global banking system in the u.s. china and elsewhere it's ok to engage in classic banking as you just described but if you have no cash on the books in reserve if there is a need to step forward was some money and you have done you have the huge crisis that we saw in two thousand and eight which is going to be repeated in two thousand and eleven because these banks still have their money on their books they're engaged in the suit global ponzi scheme and china's at the tip of the spear of the global ponzi scheme they're printing like mad they're building ghost cities that don't exist and there's hope that they are faking it in the hope that they make it you know i want to insert right here states there are a video of me from one thousand nine hundred seventy one i was working on wall street talking about the dangers of yuppies back in one thousand nine hundred seven let's play that tape right here for twenty seconds play the tape this is max kaiser thirty seven working on wall street lou your broker mexico's or the ide

at that time, the bank of new york own the property. there was no compliance and the case was scheduled for the directors hearing. the notification at that time went to bank of new york. between the time of the notification and the hearing, title was taken to the property. nobody showed up. the order was then issued. in march, the order of abatement was mailed to the bank of new york. the owner claims that mail should have gone to her and not the bank of new york. she made repairs, is that true? >> yes. the invoice and reinspection took place. it was repaired within less than 10 days. commissioner murphy: so she made the repairs as soon as she was aware of them and then mailed it to the housing inspector in july. for some reason, the inspector did not verify those repairs until october. commissioner lee: i think you just made your case that the board of abatement went to the wrong party. commissioner murphy: yes, so i see the present owner -- commissioner walker: and that is what we are looking at. i feel the same way. i feel the order

government who bailed out the banks and asked for nothing in return. this is because of the completely inadequate contract that was negotiated by the government that he supported. what we all went to see is the banks pay more in tax, and we will see that. we want to see the banks doing more lending, and we will see that, and we want to see bonuses cut, and we will see that. perhaps he can make a constructive suggestion. >> mr. speaker, let me say that the country is getting fed up with the prime minister's bathetic excuses. he made a clear promise. no big bonus over 2,000 pounds. it is still on the conservative website. now, he cannot answer the question on baker bonuses. let's try the tax. -- a question on the banker bonuses. he is raising taxes, to be cutting taxes this year a on the banks -- this year on the banks. >> i know the shadow chancellor willy cannot do the numbers, so -- -- really cannot do the numbers, so -- note [laughter] this year, they will be paying 20 billion in tax. their taxes are going up. >> ok, ed miliband. >> the payroll tax on

sector they propped them up and they created the zombie banks the too big to fail banks now the united states is not how did the a reckoning with with its financial situation. and so those are the banks are still going up there and what is happening is that all this money printing has been going into commodities which seems to be where the store value is i shudder because it seems to me that the people who are running things in the united states have not learned anything from the. hard won experiences of latin american countries and other emerging markets that had a similar situation as to what the united states is is going through today and yet have not taken to heart the lessons learned from those very painful episodes so i think the united states is going to suffer the same fate but let me ask you about a conundrum that folks seem to overlook the u.s. dollar world reserve currency all major commodities are priced in u.s. dollars and here in the united states people say well a lower dollar of course means that the u.s. through this beggar thy neighbor policy is able to expo

in the russian and the russian some trade bank the economy at the moment is so weak in terms of. just getting going again after the crisis that there aren't very many people who want to offer a good price for new enterprises. there isn't the capital available so in two or three years time there will be more capital and these enterprises will be worth more to the banks therefore banks want to hold them and so they can sell them later the russian central bank and russian banking analyst say well no you should get rid of the assets generate cash and lend them to new borrowers who can then grow so but i was twenty percent before now at seventy five yeah well that's because if i'm wrong on other it's the reserving on these assets so the central bank wants the banks to sell them so what it's doing is creating a penalty for banks if they keep them on their on their on their balance sheets the longer they keep them on the balance sheet the larger the penalty so the central bank is trying to force banks to sell these. and that i mean. the

has joined the other insane central banks around the world bloomberg reports that chile central bank has to buy twelve billion dollars to stem the peso region beating rally this looks like another chapter in the currency war what's going on you know exactly it's another part of the race to the bottom the problem for chile is that chile has an economy of about one hundred sixty three billion hours of two thousand and nine numbers and you know twelve billion as you can tell is that you know about roughly seven out of a percent out of that economy. the problem was that the dollar was collapsing against the possible so rapidly that it was really killing exports here chile is the largest exporter of copper in the world as well as seeing nitrates gold silver and so because of the rising commodity prices the past so was it through ing tremendous value against the dollar it had risen i believe about thirty percent since the close of the two thousand eat rice eats you know thirty percent in two years and it was just chili exporters am

system in the global banking system coming to the entire world visa v. what they're talking about adama's i don't know if you're covering this or not but damn those they're talking about instituting one hundred trillion dollars of new debt that's one hundred trillion dollars of worthless cocktail napkins was smeared lipsticks that says one hundred trillion dollars on an exchange the most corrupt bankers for a fee to pay for these got for second overpriced augurs well facts we talked about unless the last episode. was the last episode of carson report for the full story but if it does fit in with this. other this banker a managing director at stony mccarthy in princeton new jersey raymond stone says could the fed go broke the answer to this question was yes but it is now no because of this accounting law oh there's no again it's like not planned how are pam how do you all bank i've. got to go back i'm happy we got called up it got to blue that's all that they talk about in the high finance circles of america it's a complete canard it it's basically it's a

so that's really the area of the banks where we're pretty cautious. on the other hand those that can raise dividends, that's a big deal for the banking industry and we think it will drive pretty big returns this year, not great but pretty good. >> tom: we've heard expectationsing look for those dividend increases to possibly begin in the second quarter. our guest is fred cannon wx with kbw. thanks, fred. >> thanks, tom. >> susie: here are the stories in tonight's "n.b.r. newswheel." that surge in new jobless claims tom mentioned pressured stocks. the dow fell 23 points, while the nasdaq and s&p 500 both lost two points. as for trading volume, just under a billion shares on the big board, and under two billion on the nasdaq. federal reserve chairman ben bernanke expects the u.s. economy to grow between 3% and 4% this year. speaking at a small business lending forum, bernanke said that should help the lending environment continue to improve. but a warning for uncle sam from two big credit rating agencies. moody's and standard and poor's both say the unit

bet the bank of china takes the other side of the bet fair the only thing is the bank of china makes a decision on how valuable do you want this. so as more americans flock to china town some may be looking to satisfy an appetite for such one pork or peking duck others possibly seeking economic security in a foreign currency marina porton i am r.t. new york. ok now at some of the walls of the main stories this hour and former british prime minister tony blair has been questioned in london for a second time obey his role in the run up to the war the inquiry was investigating among all the issues why the u.k. supported the u.s. led invasion blair says he discussed regime change with then president bush and image of ignoring advice to the war was illegal when he was asked to clarify also as he gave to the panel members in january last year. so korea's military has a free all twenty one a crew members held on a kong a ship by pirates off the coast of somalia navy commandos stormed the vessel killing eight pirates and capturing five others the chemical transporter was hijacked at the week

soap because the bank might be seized. can we agree to some terms that help them attract new capital and therefore realize as much as we can? >> that is one of the issues that struck my interest. part of your participation to them is creating an awareness on others that the enticing other private investors to make capital investments to help with that bag. one thing that concerned me in the report was a suggestion that simultaneously some of these banks may be having trouble for a variety of reasons including the potential that they could be looked at for fraudulent activities. what is your policy to report that to the ig who sought 24,000 reports from people. i used to see the whistle blowers being some of the key things to us. what are you doing to ensure that there are not activities in which her enticing people to invest but simultaneously, they are under investigation for potential fraudulent activity? >> mr. barofsky has raised the question whether we should notify sigtarp and that is a recommendation that we are look

starting on the fringes with low of a properties but there are cases in chicago where banks are actually. banding properties properties i warned of this last year and when i did one of it a lot of. so-called experts were putting the idea of basically saying that there is no. is a very slim chance of economic situation where a bank would turn down any recovery that's assuming that there is a recovery to turn down there are several situations where the bait simply comes out in the negative if they took to go after the property. i don't know if it's that simple because the bay could potentially still be on the hook with the municipality for back taxes fines etc but as it is starting on the fringes and i believe it's going to work its way up towards the core and the mainstream of loans if things continue to go the way they are and there is absolutely no reason the world to believe that they're not going to go the way they are because going on this path because you still have supply as compared to demand credit still tight underwriting standards are returning back to a practical perspective b

dollars in the eyes of a cup of coffee will be five billion u.s. dollars h.s.b.c. bank says by twenty fifty global output will have traveled an average annual growth will accelerate towards thirty percent from two percent in the past decade that's absolutely correct and the price of gold will be five hundred million dollars proves yes what they're saying outputs will actually travel that means actual production of goods and services will travel where are these resources going to come from one might ask virtual goods just like you pointed out the federal reserve is moving to a virtual currency model there's no collateral of zero reserve banking they're going to give everyone avatars to do commerce and cyberspace and award them billions of virtual dollars and they'll count that as output it's virtual output that's what they failed to disclose in the piece it's a virtual output it's not output like mining or manufacturing it's virtual output of avatars having virtual sex and then raising the virtual babies and calling that a family and then applying that to some neo classi

lending spankie was taken over by the financial services authority and those are a lot of banks were the first to enter the global collapse due to the fraud perpetrated by the bankers and they had to shut them down to shut those banks down something that irish government has not done or the greece government has not done the greek government has not done which they should do because iceland is taking the right action they've shut down the banks and now they're looking for those bankers and they're going to string them up by their thumbs and they going to beat them to within an inch of their life well i don't know about that but they certainly are arrested and it makes me wonder why all these bankers from all the major banks in the u.s. all the investment banks around the world are in switzerland this week and we know switzerland has been executing arrest warrants for all sorts of people around the world perhaps we can get them to arrest some of these bankers and in switzerland at the moment but because they haven't we're going to look at some headlines which we'll see more of because

representatives the head of the bank obviously the t.v. troika dialog leading investment bank rubin valid then you're on there for the first time in years you get american european businessmen. coming up to you and really interested and really excited wanting to know more about about russian investment opportunities of course russia is outgrowing many economies across the world and also it's about to sell off around thirty billion dollars of state assets which obviously foreign investors want to get their hands on and when you get a top western banker like joseph ackermann of deutsche bank saying that the russian government gets business and banks in a way that maybe the u.s. government does not you really feel there's a bit of a revolution going on. the first deputy governor of the bank of russia says bank is minimizing domestic operations and putting less emphasis on exchange rate targets he told r.t. about the bank's plans for managing the ruble. for installation of targets in the flaws of the ground since this is a public target and the

that you pan the banks in south korea the banks in the netherlands to credit suisse to do it your bank to the banks in ireland and they gave money even to the banks in canada the federal reserve gave these no interest or extremely low interest rate loans to corporations such as general electric all the david c. mc donalds for raw is in and they have buddies in the hedge fund so we don't know these things are going on behind closed doors and the only way we found out about it is because of that one time reporting requirement that came about from that dogged frank bill that was supposed to bring about a new type of financial regulation and it really didn't it brought back more of the same so we don't know what schemes they're doing to prop it up but what we're saying that in twenty eleven the game's going to run out. so well news in brief now twenty two year old man has been charged with the attempted killing of a u.s. congresswoman and of a council but democratic giffords and still critically ill to being shot in the hague. massacre side a supermarket in the state of arizona gunman open

yes ok so that iceland special prosecutor into the banking crisis has confirmed the raids have taken place and arrests have been made the central bank of iceland is among the institutions under investigation in particular these arrests in the past week and involve a three hundred million dollar loan made by a lender spankie on october sixth two thousand and eight the day emergency law was enacted in iceland and the day before the bank lending spankie was taken over by the financial services authority yeah that's right a lot of banks were the first into the global collapse due to the fraud perpetrated by the bankers and they had to shut them down they shut those banks down something that irish government has not done or the greece government has not done the greek government has not done which they should do because iceland is taking the right action they've shut down the banks and now they're looking for those bankers and they're going to string them up by their thumbs and we're going to beat them to within an inch of their life well i don't know about that but they certainly are arr

you've got the commercial banks you've got the global banking system as it is and this system is held together by various financial transference mechanisms trading markets that goes on in two thousand and eight it broke and since two thousand and eight central banks have been flooding the globe with credit but because the basic plumbing of the global finance is broken the credit that they are expanding with goes into two places number one paper derivatives that are driving the cost of food higher and paper credit default swaps that are crashing the european bond market so people say well is it inflation or deflation it's not under inflation or deflation it's a busted global finance system that's the central banks are responding to by flooding with more credit which is going into the derivative market in such a way as to force food prices in india higher and bone prices derivatives credit fault swaps in europe lower that's should be plain to anyone watching this thing even to. believe are true goal. so it's what you might call schizo flay shannon or psycho fallacious it's side

banks. we have the effectively got to semi nationalize the banks of the wise to keep going. we didn't put capital income nobody else would come and they couldn't survive on short-term funding because they have been a very unable to pay out money to people who were calling all the banks to the service for them. as as i was coming back on the plan was working with one of the great advisers we had not sleeping which i would rather have done on a flight back from the united states and we said recapitalize now we have to restructure the banks immediately and we were going to put up when we decided about 50 billion pounds which is six tecum seven come $80 billion, and we decided that we would have to do that. and then i said how could be persuaded the links would deliver shareholdings even when there was such a great position but they were not admitting the gravity of the position. so we would have to say to them under no circumstances would we get any more support from the government in something or liquidity unless the agree to our proposal. so we would have to give them an ulti

do you see more consolidation in the banking market next year and i think on the every year around fifty banks leave the market next year our forecast is that some thirty banks will have to be shut down but you can never really say exactly how many banks our country needs the main aim is for all of these banks to function properly currently we have around one thousand banks in the market and they cooperate quite well with each other. and russian companies enjoyed a successful rebound from the crisis in two thousand and ten as investors increasingly turn to emerging markets but a select group emerged as big winners and potential gainers in two thousand and eleven float ended the year well as it was linked to a rebound in consumer demand and a recovering economy mark rubenstein from metropole explains why russian carrier will continue to interest investors in two thousand and eleven. on the stocks that basically. used to play there fast recovery consumer demand in russia which is fast recovery in india.