know from the banks in the u.s. citibank or j.p. morgan or goldman sachs or h.s.b.c. or barclays bank they're all technically insolvent and they all get together to create the world bank and the i.m.f. how can the sum of the parts be greater then the bankruptcy of the individual bit can't be this all bankrupted it's absurd that they would buy this of course the problem again is that it's what you think it is if that if the propaganda is to the irish people that they need to be taken over and they buy that propaganda then that's what it is a self-fulfilling prophecy remember in the age of five currency stacie since the seventy's we've had all the fianna currencies there is no supply and demand there is no economics it's just financial propaganda and if you want your own financial propaganda and magine silver at five hundred you can do it if you want it is that simple and you can compete with these guys well you've got a brain you've got an imagination well max. by the way as we're going through this you're seeing som

who is that obviously the head of the bank of england suggested that the u.s. u.k. switzerland and perhaps japan might forward ten. prarie new group to jointly develop an effort to bring together sources of capital to recapitalize all major banks that's right in the solvency not illiquidity what does this mean it means going back to two thousand and eight when hank paulson went from congress and said give us some money to cover our bills for a few months because we are illiquid he was aligning he did not tell the congress that the banks are insolvent had he been truthful then congress would have shut down the insolvent banks and they would have created some new banks that were not run by frickin financial cherice like goldman sachs j.p. morgan he'd lie now mervyn king told the truth but of course that information did not get into the public domain it's globalization for the bankers when it's convenient for the bankers but everyone else of course does not benefit from having globalized information except for wiki leaks and julian sun that's why it's so dangerous

sector so a layman commits a fraud using a foreign bank going to bank for example one of the banks and then when it's do it you're back. to report they reciprocate by hiding bad debts on lehman's balance sheet and they go back and forth like this this is how you end up with a six hundred trillion or so in derivatives so-called this is just bad debt that's being created a to hide more debt and to shuttle this debt around the world in ways that give banks deal of reporting profits when there are no profits to report it remember enron went from a eighty billion dollar company to zero in a matter of minutes when it was revealed that they had just been a huge accounting scandal so i want to point out here by the way that you know as i mentioned at the top of this item that it is a civil lawsuit this is outright obvious criminal behavior and yet these banks for some reason get over and over charged with civil fines and that are very small compared to the crime committed in the damage done because look at this way andrew cuomo says this hour a lawsuit seeks to recover the thieves collected by

the world bank.sovereign nations sovereign people around the world those mountains are being you know loaded up with debt and the brits apparently are happy to take this debt and dive in debt you know they got all those pumps they're like the parrot the dead parrot in rat the sick rename all those pods pubs like the the the debt and you know the credit card overdraft and the parent you know the oh you know these types of things and will say you're shy or parroting credit card and a house you know they've got to go with the times or here's the headline iceland is no ireland a state free of bank debt grimson says so this is iceland's president olafur grimson and he said his country is better off than ireland thanks to the government's decision to allow the banks to fail two years ago he said quote how far can we ask ordinary people farmers and fishermen and teachers and doctors and nurses to shoulder the responsibility of failed private banks you've got a global insurrection against banker occupation b

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 assessme

he talked about a shadow banking system the shadow banking system trillions more in debt that they have yet to disclose that they're using as a way to extort more coerced from the souness's via austerity measures so the bankers couldn't joy salaries and bonuses until these governments should take these banks and start new banks with clean balance sheets and none corrupt executives who are not terrorists this problem will continue for years they will always show more debts there's another twenty trillion of bad debts. to go through every corner you have to go through this every quarter or they say always just find another trillion debt more austerity measures more bonuses more salaries what are we going to get smart and wake up and figure out who these guys all need to be fired tried oh thank god the way out there out there all right can care is what it does why did you get to catch that so i do one more for the new year where you don't go away. to say what are you doing there holding a gun to your head in the u.s. and britain and western europe and are said never playing with your bud w

bank. icbc's bank was suspended for three months for facilitating a local realtor to allow the flow of $26 million in foreign funds in january last year by overlooking insufficient documents. two officials in charge of the operation at the time were fined. the other banks in question be have been partially suspended or fined. the chinese government has been vil gant for the influx of speculative hot money in an effort to prevent it from accelerate inflationary pressures in the country. >>> the bank of tokyo mitsubishi ufc is going to increase funding by up to $11 billion in a bid to facilitate the country's rapidly increasing infrastructure. the boost in capital will allow the bank to raise the amount of loans available per client by 30%. the indian government plans to carry out large scale projects to build new roads, ports and power plants at a cost of $1 trillion. major u.s. and european banks have already launched large lending services in india. the japanese bank says it will try to ca

be there like they went in to save the banks of greece they've wanted to save the banks of ireland because it's all internet make the valley so it really cuts away from the real economy go ahead rodney. yes that there is an elite and unfortunately that view of things is reinforced by mainstream neo classical economics which basically says the banks may create money administration costs and interest and then can lend it for any reason and the more lending that they do the efficiency purposes of the free market are being served and the justice purposes of being served that is complete and utter lies the whole thing is being it's exposed now as the debt is built too much the in america they got rid of all their jobs they've never addressed the real economy sure the whole thing is now coming down and i'm afraid it's going to be very nasty we're looking at fifteen twenty years and even then there may not be a solution ok i knew we had a position then we were limon brothers was allowed to go pop in the united states and one of our backs. northern rock a very small bank which the first one was on

in northern iraq a very small bank which the first one was on the government didn't allow that to go pers maybe they should have allowed that go bust because that was the beginning of the problem but bank was bio out the other banks have been bailed out i run across western europe in particular here in the u.k. those bankers now are paying those bonuses again and at no point has the political elites of any party here in the united kingdom actually spoken to the british people about this and i think there's a massive disconnect similar to what's happened in the state speech or with the tea party there's definitely a disconnect between mainstream politicians of the major parties and the public which is why i think the tea party actually got a lot of traction in your recent elections and indeed we need something like that here in the united kingdom and in a way the e.u. referendum campaign will try to fill that void by saying listen we must have a vote on the most important political question we've got at the moment in the u.k. which is do we want to be part of the e.u. we're paying for

morgan or the federal reserve bank of america or the european central bank or the irish government so first one is john williams of shadowstats dot com and i want you to look at this chart he makes of the chew unemployment situation so you see the bottom is the you three number this is the number that the government tells us . the number of unemployment as you see it's just under ten percent the next level up is give you six number and this is reported by the government as well but they don't tell it to the media the media doesn't hype this up but that's the the broadest range that the government continues to count and that is up you know over fifteen percent but if you look at the real numbers if as unemployment used to be counted before bill clinton you see that it's over twenty two percent unemployment in america and this is as a result of there being no financial activist prior during these past decade financial activism it used to be called labor negotiations there used to be a thing in america called the union there used to be collective bargaining there used to be wages that we

>> between the requester and the bank? commissioner lee: yes, the bank could have dealt with this with the city as well. they are also responsible to the city, not just her because they sold her a problem, are they not? is the bank, the previous owner, responsible for taking care of something with the city? can any odor just pass off their problems to the city of knowingly? >> it is the current owner at any time. they are responsible for the property. commissioner murphy: looking at this, the way i see it, the rules were written in december 2009. 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

at a fifty year high the nation's largest banks made record bonuses early to help the wall street elite ovoid paying higher taxes. the arrest of the wiki leaks founder shows the west has no right to dictate to others what democracy means according to russian prime minister vladimir putin he was commenting as moscow demands an explanation from nato after a leaked by the online whistleblower suggesting the alliance has secret defensive plans against russia in eastern europe despite ongoing resets in relations up next our debate show cross talk this time host paedo a bell and his gas discuss whether the euro's days may be numbered stay with us coming your way next. if you can. follow in welcome to cross talk i'm peter lavelle a currency in crisis and under siege what does the future hold for the euro is it destined to be a weak currency or is it time to seriously consider ending this monumental monetary experiment. can. you discuss the future of the year i'm joined by john ganton birmingham he's the u.k. spokesperson for the e.u. referendum campaign and in london we cross to rodney shakesp

are these banks as. bullet proof as we are led to believe not a tall and there are not that many of them there has been a lot of consolidation but there are not that many they're not highly liquid and although we didn't have subprime in the same way they did in america sort of lending five hundred thousand dollars to wal-mart greeters to buy enormous how that we didn't have that but we did have forty year mortgages with no down payment these were the people who were driving marginal prices in red hot markets like vancouver even now that we don't have that anymore we have thirty five year mortgages with five percent down which is still a pretty extreme situation from the point of view of offering credit the average house price in vancouver is over a million dollars so basically when that bubble burst that is going to have tremendous consequences for the canadian banking system ok so this housing market in general is still at the moment you could characterize it as being on the upswing it's peaking at the

keep going mainly on the royal bank of scotland and we've just recently about a year or two years ago the british people never asked about it we bailed them out we're now effectively buying their out again one of our biggest banks because you're right they're completely in debt is actually our economy that's what's behind this this is what the british people haven't been told should crushes in the banking industry but it is also down to politicians and lakshya lation you know agree with you rodney in your analysis that it's world wide isn't just europe i would agree gentlemen gentlemen i think it's very very interesting is we brought in the comparison of the united states because it seems to me over the last two years or so it's countries are can fail ok they can fail in a sense it's banks they can't fail the banking system isn't allowed to fail and that's one of the things that's very very interesting here is because it's saving the banks and then it doesn't really care where what's happening on the ground because they're so far away from the people anyway and it sure in there if you

banks and start new banks with clean balance sheets and none corrupt executives who are not terrorists this problem will continue for years they will always show more debts there's another twenty trillion of bad debts. you go through every corner you have to go through this every quarter or they say always just find another trillion debt more austerity measures more bonuses more salaries what are we going to get smart and wake up and figure out that these guys all need to be fired tried but thank god the way out there out there all right can care is what it does why did they get did you catch that so do one more for the new year what do you. say what are you doing there holding a gun to your head in the u.s. and britain and a western europe and or said they're playing with your bud why did you wake up and do what you're supposed to do what you were elected to day oh well max one final little headline on that this pulling the bad news out of the hat this one was pulled out during the quiet period when all brits were away for holidays not that they really needed to know this but u.k. rec

but i think there are many small banks and community banks and medium-sized banks are in trouble and perhaps don't have the wherewithal to work through all their troubles. >> tom: ian ratner with the firm glass ratner. >> suzanne: there's finally a framework in place to unwind the government's huge stake in a.i.g., and it puts uncle sam in the driver's seat. it will happen in the form of stock sales, with the treasury dictating terms and frequency. the idea is to cut the u.s. taxpayer's stake in the insurer from 90% to less than a third. a.i.g. will hold at least two common stock offerings a year until it hits that threshold. tom, just yesterday the treasury finished unloading its stake in citigroup. taxpayers earned $12 billion on their $45 billion investment in citi. >> tom: suzanne, a.i.g. shares were active on the news, falling 4%. they were the biggest drag on the financial sector today. let's take a look at tonight's "market focus." while a.i.g. was the loser among financial stocks, it was a different type of insurance company that was the biggest gainer: lincoln financial. the

, like aig or investment banks or range of other institutions that we're not regulated as banks before, and add you said, resolutions authority which is like a bankruptcy authority for banks so that in the event in the future, a bank like that makes mistakes that cause it to fail, the government can step in and unwind them, butt them out of their -- put them out of their misery, break them up without risk in the economy as a whole. i think we're in a better position in the future to prevent crisis of these magnitude and manage them care fry. we'll have crisis in the future, but the reform bill to the credit of the architects in congress today will help us fix the fundamental failures that caused this crisis. >> but as you said earlier, when you're in a situation of financial crisis, bankruptcy is something you really want to avoid. >> you can't have liquid dation being a institution. >> it's better to do it when it's not? >> that's right. >> thank you. .. the losses you may face on them, how they are performing so that individuals across the financial marketplace can judge for themselv

deal even with unemployment and homelessness in the us out of a fifty year high the country's largest banks may pay out record bonuses early to help the wall street at least avoid paying higher taxes. and the arrest of the wiki leaks founder shows the west has no right to dictate to others what democracy means according to russian prime minister vladimir putin he was commenting as moscow demands an explanation from nato by the online whistle blower suggesting the alliance has secret defense plans against russia in eastern europe despite the ongoing reset relations. up next our debate show cross talk host peter labelling his gaffes discuss whether the euro's days may be numbered stay with us. well we'll. bring you the latest in science and technology from around russia. we've got the future covered. and you can. follow in welcome to cross talk i'm peter lavelle a currency in crisis and under siege what does the future hold for the euro is it destined to be a weak currency or is it time to seriously consider ending this monumental monetary experiment. you can. see. to discuss the future of th

in further dad which it seems to me the only people that benefit out of all of this so far are the banks ok they're doing quite well through the whole thing i mean even when there is a run on a country the banks really come out very very well i mean they have not proposed any solid solutions to get out of this mess and there's a lot of criticism for the for the euro you for the euro zone itself you know you can't do a country by country you got two weeks the whole thing is not going to work. what are the bottom line let's talk about the e.u. for to start with and the euro is that this union was doomed to failure from the beginning thank goodness we never joined the single currency but we now have a situation of course where you know they've tied the economy of greece say for example to germany well how can you possibly do that if you have the same to end if you don't have the same tax and the same benefit regime as well that's what's going wrong this is a political union really where they put the monetary union first whereas in the states of course when you had your union you didn't star

banks who are insall. and so the fact that they've got away with taking over countries like ireland by pledging the assets of ireland as collateral to take over island is remarkable but it is in keeping with this global plague of banking terrorists the other thing about plutocracy as we were talking about earlier is that you know you often see poodles and dogs and cats making great inheriting great deals great fortunes tony other arabia earns forty three million dollars as advisor to kuwait while getting paid by war in stanley and the u.n. so well this is a headline where they actually say morgan stanley but in fact tony blair as well working for j.p. morgan as a senior advisor. and this is from the daily mail they're saying that kuwaiti sources have told them that the former prime minister was paid forty two point five million dollars this year for advising the government of kuwait last year he meets six hundred forty thousand dollars as the u.n. peace envoy to the middle east paid primarily by british ta