look good i mean ben bernanke he makes bernie madoff look like a saint compared to the fraud that he's now associated with at citadel capital and melvyn capital and this is just a show trial to put the mainstream financial press down a rabbit hole and chasing the wrong rabbit just to some is there a fear though all of the so-called armchair investors you know getting online and finding a site where they can go cut out the middleman do things themselves without you know even going to university doing any of the financial stuff and making profits and yet you've got the established past worried that this is going to make inroads into their profits is that again too simple to say. this is a case of vigilante justice in throughout history when the people in power commit fraud the people rise up and impose vigilanteism this is the case wall street bets are a vigilante group going after some a severely corrupt insiders on wall street for this reason they're bringing to the markets. price discovery that the regulators like the f.c.c. the securities and exchange commission and fin sent sho

the entire ponzi scheme and it works in so suddenly you lose faith in the ponzi scheme and like bernie madoff one day it just blew apart or enron remember it was going great for a few years and then one day it just blew apart hyperinflationary collapse of the u.s. dollar is happening right now against bitcoin it's happening right now people it's not in the news because it's scary like if you were to say oh my gosh there's a tsunami coming and the people on the beach would say that's too scary so i'm not going to process that information is just too scary and then they just sit there on the beach and they get swept away everybody is not prepared for the tsunami of hyperinflationary collapse against the u.s. dollar stopping 2021 will get wiped away as swiftly as they did in the tsunami the only escape valve as christine lagarde calls it is bitcoin she called it i believe christine legarde she said your escape from the catastrophe that i christine created is a good one for a catastrophe market that mark falak had mentioned in the last episode and i just think it's it's interesting to observe tha

victims of bernie madoff's ponzi scheme are getting another payment, more than $231 million will be distributedillion. and the head of canada's largest pension fund has been forced to resign the ceo of the canada pension plan came under fire for traveling to the iran emirates to receive the vaccine government officials had urged canadians to avoid all nonessential travel. and you are upo tdate "squawk alley" will be back after a quick break. - [narrator] grubhub perks give you deals on all the food that makes you boogie. (upbeat music) get the food you love with perks from- - [crowd] grubhub. >>> netflix announce a massive study on the diversity of its content creators our julia boorstin has a very special guest. hi, julia. >> hi. and ted sarandos, thank you for joining us, co-ceo of netflix and netflix's chief content off officer. we appreciate you joining thus morning. your first interview since becoming co-ceo but releasing this comprehensive two-year study of the diversity of netflix's content. what did you learn about where there are gaps in your diversity and where you want to do better?

which is like, "your honor, bernie madoff is no longer running a ponzi scheme.can't we just leave the man alone?" and his lawyers are saying he's not responsible because people should have known he was using hyperbole when he told them to "fight like hell." and then they ran down the street yelling, the guy in the viking costume and the lady with the words "camp auschwitz" printed on her triple xl sweatshirt should know what "hyperbole" is. [ laughter ] the world has been refreshingly quiet with joe biden in the white house. i think this puts it in perspective. today biden wrote: "we don't have a second to waste when it comes to delivering the american people the relief they desperately need. i'm calling on congress to act quickly and pass the american rescue plan." four years ago today, this is what trump who was president tweeted: "my daughter ivanka has been treated so unfairly by @nordstrom. she is a great person, always pushing me to do the right thing! terrible!" [ applause ] i like that he admits he had to be pushed to do the right thing. [ laughter ] so

i have a history on this i used to work for the new york stock exchange decades ago battling bernie madofft was done in the name of creating competition for exchanges, but that was the wrong kind of competition. the competition should be on who has the best publish not on who wants to pay for order flow. again, it's just the horse is so far out of the barn i just don't see regulators or politicians at this point sadly >> so, sheila, if you don't see that being banned, you also said people should be investing for the long term, but we know they don't. they aren't. they're very much interested in these shorter term trades. what are the reforms you think are practical that could really be implemented right now >> well, i think shortening the settlement time is something that we should be focusing on. more transparency, transparency around short positions, i think, is important looking at margin requirements looking at capital requirements for broker/dealers this can help provide more stability to the financial system i support a transaction task it's too easy right now. we need more friction.

lectures people about behaving better, it's like ty cobb lecturing people on sportsmanship, or bernie madoff for heidi cruz in this, to have that happen from a neighbor. but ted cruz is not focused on the problem. he needs to buy a mirror and look at the real problem. ted cruz, take responsibility for your actions, take accountability, and don't start lecturing people. he basically became an internet troll. and don't lecture people on things you do every day of the week. >> it's so amazing. anybody looks at that, don't be "a"-holes, and even his allies had to look at that and say, are you kidding me? and last night, let's look at something else he said on fox news. here he is. >> i think the media is suffering from trump withdrawal. they've attacked trump every day for four years, and they don't know what to do. now they're obsessed over my taking my girls to the beach. >> now he's blaming the media for this. >> well, ted is just -- as i've told you before, i know ted, i worked with him in 2000. he's unshamable. he cannot be shamed, because he doesn't really care. ted is one of the first guy