jamie dimon which turned some heads over the weekend in an interview with the financial times when he called new banking regulations anti american so why does it seem like republicans want to repeat of the two thousand and eight financial crisis and how is keeping banks from gambling with our money anti american hero offer his take on this is michael hudson staff writer on business and financial investigations of the center for public integrity and author of the book the monster a gang of predatory lenders wall street bankers fleeced america and spawned a global crisis michael welcome. thanks for having me tom. michael what exactly are these regulations that diamond is calling anti-american. well these are international regulations that have been agreed to by the united states and many other. large countries it's called hazel it's basically a compact and a treaty that. developed nations have come together and these are basically global rules on banking safety the idea is essentially i'm simplifying it a little bit too much of a central you need to have a little bit more money in the v

the c.b.s. and new york times financial time is. yeah i don't believe the stimulus spending was the unbridled success she believes that to be is a matter of fact i think it was an abject failure and i was already got of the strategy until the very eve of the spending kicked in and ever since that spending caved in the economy has been has been you know a slow but steady are you saying the economy is good we need it all adds not good he has sworn a certain continuous months of private sector job creation after and when the shark batteries years if you are going to have as many of whom are out of work i say that is where it should i not say absolutely not so i should be right but david we have followed your advice and herbert hoover's advice of doing nothing we would be you know i mean we were losing eight hundred thousand jobs a month. you want to continue i'm not saying we should do nothing i'm not saying we should do nothing to him i'm saying we need some financial accountability and some good common sense not just spend money willy

titled alfred hitchcock's the bankers the financial times the financial times is like the magazine of the wealthy powerful bankers talking to themselves quote it characteristics that make for good trading and investment bankers are pretty much the same as those that define psychopaths surely only someone with a serious personality disorder could have thought it was a good idea to sell highly risky financial instruments like a c.d.o. squared to a naive investor who clearly did not understand the risk. you get it it's guys are psychopaths university of st guillen study talked about psychopaths and they said traders behaved more egotistically and were more willing to take risks than a group of psychopaths who took the same test and these were actual psychopaths but they grew out of a prison population people who had been diagnosed as psychopaths and what do they find but the banks toure's the traders the guys who like the guys who were saying oh boy oh boy let's crash the economy and make some bucks they were more mentally ill now traditionally what we do in society is we build rules

i think that it's safe to say the apple's working hand in hand with those well paying ad tracking agencies look even all of that in mind when we talk about financial times they want to protect their subscribers from apple's behavioral tracking so they've had several discussions with the company about making changes to their policy but apple with so the financial times has decided to end its ties with apple and stop selling their out through the store despite the fact the digital subscriptions increased by thirty four percent just in the first half of this year now financial times instead of a web based app for their users and they're encouraging anybody who wants to stay with their peers and own company transfer their business there but let's take a moment to focus on the real story here a company has actually put their users before their profits i mean i'm simply shocked and i really wish the other companies out there would have the exact same attitude but in the meantime i think it's safe to say the way the financial times has stood up against apple's policy is true glimmer of hope. now if you haven't yet seen a video of two robots talking to each oth

and silver but max what about the psyops here because the dollar in that time is down thirty four percent but if you were to look at the other financial news programs you would think that the safe haven during this entire time is always been the u.s. dollar those get prominent headlines and you would think in fact that the valar tile dangerous asset to associate yourself with is silver because the psyops of the mainstream media like c m b c is a propaganda outlet like again the vietnam war if you look at those vietnam war movies as well as some chick on a speaker someone saying you know americans you'll never win this war you know type of thing that's what c. and b. c. is all about they're flooding the airwaves with propaganda that the dollar is good and the precious metals are bad and of course we're going to lose this war because silver is going to five hundred thanks to you and of course many in the west think somehow that they're not the ones also being carpet bombed so let's look at this other headline in this is from january of two thousand and eleven the difference ten years makes and the chart is literally a picture that tells

greece out and not enough in the right timing and greece was just the weakest link in the in the building in the. well constructed it is a problem when you promote the financial gratian without having political integration and i think it's the time for big decisions of the european union not so sure that the political leadership of the european union today is going to be what do you think i've been through there are these crisis that's the root of this crisis is that the political leadership has given up a part of its power to the let's call it a list. of people that would never vote for him never elect. but they seem to have more power than the elected leadership that is something that has to change and another point of view maybe it sounds a little bit moral but making the money without producing anything is immoral and that's what we're paying right now so what you seem to be suggesting is that greece has lost more than it gained from joining the european union and the euro zone it's not our fault is that we lost chances we. then should have done more and the good things. right now it's costing us a lot you can imagine that. germany for example is lending

has me here for such a time as this it is no coincidence that greeley greece temple has a pastor who happens to be an accountant. who is it this. is the reason. we have a financial plan of the financial times where we have got to put some principles in place and get our sales to care. because we. know where the economy. regardless of what the economy has got steel always us ok on air response while trying to be as long as about three weeks you know me and looking for apartments on partly out of place five hundred miles north of forty years is that i will come to you for help with live with my first month's rent and everything like that if it's possible i. find a partner but they. look very. motivating people in this day and time. is more difficult than it was in my father's pastorate when people were laid off right during those decades of you knew how when you would be returning to work so my father's days of motivating was i think a little easier in my day they come to me as a bishop what am i going to do. and i can't say well in six months things will be better i don't know so we have to exercise a greater faith in god. but we thank you for this day and for th

a report of the "financial times" says the chairman of china's sovereign fund met italian officials last week. a professor in st. louis spoke to me about if italy would benefit from the help of the chinese. >> the italians could resolve their own problems if they give it a serious try but i have to say with the government they have, the overall political system, they seem unable to. it is a bit paradoxical. italy, it's not a separate situation. it's a large debt and substantial deficit but the deficit is lower than many other european countries and the debt, they would be able to sustain and pay interest and principal on it for almost two decades now so it's not a new shock. it would not take major dramatic effort for the italians to come into shape. they would have to do something, they would have to depart a number of privileges that have been there for a long time. if you frankly want my speculation, i am afraid that the chinese purchase is yet another rabbit mr. berlusconi and his partners are pulling out of his hat and i am afraid that we'll find in a few days or a week after the bi

the right timing and greece was just the weakest link. in the building in the. well constructed it is a problem when you promote the financial and to graciously without having to come in for gratian and i think it's the time for big decisions of the european union not so sure that the political leadership of the european union today is the point that should be what do you think at the root there greece crisis of this crisis is that the political leaders who has given. a big part of its power to the let's call it financial establishment the people that never voted for him never elected. they seem to have more power than the leadership that is something that has to change and another point of view maybe it sounds a little bit moral but making the money without producing anything is immoral and that's what we're paying right now so what you seem to be suggesting is that greece has lost more going to be gained from joining the european union and the euro zone listen our fault is that we lost chances we. we should have done more in the good things. right now it's costing us a lot you can imagine that. germany for example is lendi

is fine forty to fifty percent off the london based pro bono bio for an undisclosed amount the financial times the scribes the company as a new medical company launching the world's first molecular scale nanotechnology treatments problem of plants less than moscow and on this within four years. tony hayward is stepping down from the anglo russian oil firm it seeing play b.p. and that's less than a year after joining the board as a non-executive director and former chief executive officer he was fiercely criticized for his handling of the gulf of mexico oil spill is leavin supersede all their interests in the energy sector the departure comes at a sensitive time following the spell that santa drawing with so explore the arctic the alliance was broken by the russian partners in the who are now seeking compensation through the courts from the british parent company. and that's all we have time for this hour the headlines are next. commission free couldn't take should free in-store charges free to make sure the free. three stooges free. old free book plug in video for your media projects a free me

behind a forty to fifty percent off the london bass pro bono bio for an undisclosed announce the financial times describes the company as a medical company launch in the world's first molecular scale and that it's acknowledging treatments pro bono by a plan celeste in moscow ellen then within four years. tony hayward is stepping down from the anglo russian oil firm. and that's less than a year after joining the board as a non-executive director the former chief executive of b.p. who was fiercely criticized for his handling of the gulf of mexico oil spill is going to pursue other interests in the energy sector departure comes out a sensitive time following b.p.'s failed it's time to join with force not so explore the arctic the alliance was broken by the russian partners in seeing k b p who are now seeking compensation this group of course from the british parent company. let's take a look at the markets now it will start with oil prices there are lower investors fear europe's debt crisis will harm economic growth tempering demands for all materials light sweet is currently trading at eighty six

proctor and gamble chairman bob mcdonald told the "financial times" the company has cut its vice chairmen from four to two and has shaved upper-level management by more than 10%. washington correspondent darren gersh takes a look at the growing trend of downsizing at the top. >> reporter: when consumers hear the name proctor and gamble, they think of clean clothes and dry babies. but when business leaders hear p&g, they think of a "talent academy," a company that has always put a lot of time and effort into training executives and future c.e.o.s. so when p&g trims group presidents and vice presidents, the signal is clear says syd finkelstein, a professor of management at dartmouth's tuck school of business. >> so if p&g is cutting back on senior executive talent, it really is a meaningful indicator, because of the intensity and effort they have spent for years and years on developing talent and enhancing their bench strength. >> reporter: executive recruiters say many businesses have already cut at the bottom of the ladder, so new savings will need to come from the executive suites. and w

the area of accounting. that. god has me here for such a time as this it is no coincidence that really greece temple hands a pastor who happens to be an accountant. resources. we have a financial plan of the financial times where we are back to put some principles in place a good sales to can. because we. are very current. we gossip what the economy has got steel us ok. and this is what i'm trying to be as long as about three weeks you know me and whatever apartment are very proud place five hundred miles north of forty years is that i'll come to you for help with live with my first month's rent and i bet if it's possible i imagine find a car but leave her here they know in the v.a. and. you look across three years on motivating people in this day and time is more difficult than it was in my father's pastorate when people were laid off during those decades of you knew how when you would be returning to work so my father's days of motivating was i think a little easier then my day they come to me as a bishop when i'd want to do it and i can't say well in six months things will be better i don't know so we have to exercise a greater faith in god. we were right. but we thank you

me here for such a time as this it is no coincidence that greenery stempel has a pastor who happens to be an accountant. yes it. is the reason. we are fighting to kind of the financial times where we have got to put some principles in place and here sales to canada because we. know where they currently. regardless of what economy has got steel us ok. and this. i'm trying to be as long as about three weeks and you know me i'm looking for a partner on carving out a place five hundred miles i'm not here for he says that i will come to you for help with live with my first month's rent and i bet if it's possible i guess i can find of her but leave her here that you have a member of the invite you look across three years on motivating people in this day and time is more difficult than it was when my father was pastorate when people were laid off or greenville's decades of you knew how when you would be returning to work so my father's days of motivating was i think a little easier then my game they come to me as a bishop when i might want to do it and i can't say well in six months planes will be better i don't know so we have to exercise a greater faith in god we were ri

managing editor for the "financial times." thank you for joining the program. tim geithner said quite clearly that europe has been too slow on this, behind the curve as he put it. wire the american so outspoken? >> -- why are the americans so outspoken? >> the pressure has been building but what has changed is that there is a concern which is more akin to panic. there is deep anxiety now. what the americans know is that hoping that the worst-case scenario will not materialize does not work. what more and more people in washington and new york are asking, could this be the european version of the lehman brothers crisis. >> could it? >> certainly, the problems are building. europe is facing some unpalatable churches -- choices. i did the germans will have to embrace a version of the eurozone that is different from what they signed up for or that members will have to go their own way. if you look at the rating agencies today in relation to french banks, if you look at the fight in germany, there is a very messy picture building. the problem that concerns americans

the financial times reports the social networking giant plans to make its initial public offering atnd of 20126789 facebook is expected to have one of the world's biggest ipos. private shares have been valued at more than $66 billion. people close to the paper said zuckerberg wants to hold off to keeple ployees focused on developing products. >>> two high school seniors were honored for developing the first iphone app for a school district in california. the app will make it easier to access and utilize the school district's website. >> it's really cool to see a dream we both had realized and come to culmination tonight. we're glad to be helping out the school district. >> the two students said they came up with the idea after they wanted to see how they could take content from their school newspaper and put it on a smartphone app. apple has approved the app and today was the first day it could be used. >>> happening right now, fogging for mosquitos is under way for parts in san jose. spraying began just minutes ago at 11:00. crews are now concentrating their efforts on parts of san

is point forty to fifty percent of the london based pro bono bio for an undisclosed amount the financial times describes the company as a new medical company launching the world's first molecular scale and then its acknowledge the treatments pro bono by a plan celeste in moscow and london within four years. tony hayward is stepping down from the anglo russian oil form and that's less than a year after joining the board as non-executive director the former chief executive of people who was fiercely criticized for his handling of the gulf of mexico oil spill is leaving to pursue other interests in the energy sector the departure comes at a sensitive time following b.p.'s failed attempt to join with rosneft so explore the arctic the alliance was broken by the russian partners and seeing to b.p. who are now seeking compensation through the courts from their british parent company. let's take a look now at the markets and more starts with oil prices there are lower as investors fear europe's debt crisis will harm economic growth temper and demand for raw materials. lites regis currently trading at

we applied it to kind of the financial times where we're back to put some principles in place and here sales to can. because we. know where the economy. regardless of what economy guy has got steel us ok. and this is. what i'm trying to be as long as about three weeks you know me i'm looking for a partner on carving out a place five hundred oh my daughter four years is that i will come to you for help with live with my first month's rent and i bet if it's possible i guess i can find her or keep her here yesterday not in the way. you look across three years on motivating people in this day and time is more difficult than it was in my father's pastorate when people were laid off right during those decades of you knew how when you would be returning to work so my father's days of motivating was i think a little easier in my day they come to me as a bishop when i want to do it and i can't say well in six months planes will be better i don't know so we have to exercise a greater faith in god. we were right. but we thank you for this day and for this time it seems in these two you brought to

according to the financial times, the korean won has fallen by about 9-percent against the us dollar since august 1st..., and the country's stock market has also dropped about 15- percent. citigroup says korea's stock market was among the hardest hit by foreign fund outflows last week... as foreign investors kept withdrawing funds at the news of the financial turmoil in the eurozone. analysts say foreign investors have reasons to be sensitive about their korean holdings... as korean banks rely heavily on wholesale financing from european banks, leaving the korean market highly vulnerable to any credit sqeeze in global markets. while korea's open capital markets are indeed reacting vehemently to external shocks, causing concerns for the government..., kwon young-sun, an economist from nomura, says korea stands the lowest chance of a currency crisis in asia. kwon says that, with the exception of hong kong and singapore, korea is asia's most open economy and it boasts a strong current account surplus and abundant international reserves. the economist stresses that korea's future is brig

is by the forty to fifty percent of the london based pro bono bio for an undisclosed amount the financial times describes the company as a new medical company launching the world's first molecular scale and then also acknowledging treatments pro bono bio plans to rest in moscow and london within four years. british oil major b.p. wants to continue doing business in russia despite its current problems in the country and that's according to a senior kremlin aide cited the british prime minister the company is stuck in legal battles with its russian partners in the joint venture t m k b b earlier this year they blocked the deal between b.p. and ross next to jointly explore the arctic and now they're seeking compensation for b.p. for breach of their shareholder agreements tony hayward the former c.e.o. of b.p. is stepping down as a non-executive director of the and that is less than a year after taking the post. let's take a look at the markets we'll start with oil prices there are mixed as the u.s. dollar and then scaled up earlier gains a partial recovery came as the organization of petroleum exp

is buying forty to fifty percent of the london base pro bono bio for and i'm just close some the financial times describes the company as a new medical company launching the world's first well that close scale nanotechnology treatment pro bono bio plans to list in moscow and london within four years. tony hayward is stepping down from angle russian oil from the b.p. less than a year after joining the board as a non-executive director the former chief executive of b.p. who was fiercely criticized for his handling of the gulf of mexico oil spill is leaving to pursue other interests in the energy sector the departure comes at a sensitive time although in the piece failed attempt to join with what's next to explore the arctic their lines was broken by the russian partners and b.p. who are seeking compensation through the courts from the british parent company. let's have a look at the markets now oil prices low investors fear europe's debt crisis will harm economic growth tempering demand for rule materials lights which is currently trading at eighty six dollars per barrel while branches hovering at

managing editor for the "financial times." thank you for joining the program. tim geithner said quite clearly that europe has been too slow on this, behind the curve as he put it. wire the american so outspoken? >> -- why are the americans so outspoken? >> the pressure has been building but what has changed is that there is a concern which is more akin to panic. there is deep anxiety now. what the americans know is that hoping that the worst-case scenario will not materialize does not work. what more and more people in washington and new york are asking, could this be the european version of the lehman brothers crisis. >> could it? >> certainly, the problems are building. europe is facing some unpalatable churches -- choices. i did the germans will have to embrace a version of the eurozone that is different from what they signed up for or that members will have to go their own way. if you look at the rating agencies today in relation to french banks, if you look at the fight in germany, there is a very messy picture building. the problem that concerns americans

he's stuart kirk, deputy editor of the "financial times'" lex column. >> this week, all eyes are focused on president obama's jobs speech on thursday. it is doubtful that investors expect much on the day, although those who are heavily overweight whether or not the speech can more important to markets is whether or not the speech can kick-start mr. obama's re- election campaign. it is understandable that the president is worried about the economy-- he's not stupid, last week's payrolls report looked ugly, and the recent downgrades to g.d.p. suggest that mr. obama is not about to receive a boost in the polls from growth any time soon. but everyone must avoid becoming too distracted about jobs. for a start, last friday's numbers were affected by a large strike and by seasonal factors adjust for these and the private sector added 60,000 jobs in august. not amazing, but hardly dire either. and if energy prices edge lower, u.s. companies may even start to feel more confident again. nor can mr. obama lose his focus. the reality is that his big problem may not be growth, but rather america's 75

morgan chase and bank of america together the financial times reported they originated one hundred billion dollars in sub prime mortgages between two thousand and five and two thousand and seven almost three quarters of the total. what i did in the mortgage industry i first got involved in about one thousand nine hundred eighty i was a loner originator. and during that time what i had seen was nothing short of amazing in terms it was very predatory the techniques that were being used the salesmanship that was being used to gimmicks on the loans and how they were structured it really disturbed me catchall to this and how they could get away with that is people here full disclosure depending on the lending institution you went to in other words a bank a broker or a way in the institution or three different all three have different sets of regulations that govern them and so full disclosure it wasn't necessarily important to the loan itself just get them to sign on the dotted line if they were happy with the numbers you have a loan. my name is moby daughter and i'm with nancy basically what w

is binah forty to fifty percent of the london based pro bono bio for an undisclosed amount the financial times describes the company as a new medical company launching the world's first molecular scale nanotechnology treatments probe on a bio plant celeste in moscow and london with them for years. tony hayward is stepping down from the anglo russian oil forum at seeing k b p and that's less than a year after joining the board as non-executive director the former chief executive all of p.p. who was fiercely criticised for his handling of the gulf of mexico oil spill is live in super scio other interests in the energy sector the departure comes at a sensitive time following b.p.'s failed attempt to join with wozniak to explore the arctic the alliance was broken by the russian partners in seeing to b.p. who are now seeking compensation through the courts from the british parent company . let's take a look at the markets and i will start with oil prices are a mix the sour investors fear europe's debt crisis book economic growth. tempering the man thought raw materials light sweet is currently trad