bill black our buddy bo black good point new york times paul krugman how come they're siding with the terrorists also it puts into context the recent comments by barrack obama that the banks committed a moral transgression but did not break the law here's a top government regulator bill black from the one nine hundred eighty saying it's definitely fraud they definitely broke the love letter of the law and obama if you are down with so in breaking the law that's an impeachable offense why is he still in office you have a max this guy bill black is saying that it is the economists like paul krugman who provide the systemic propaganda for the population he's the one who refuses to use the f. word if you're not going to use the five letter f. word paul krugman you might as well use the four letter one who dug. ok well let's move on to the for all that dares not speak its name q.e. pushes families into debt warns bank of england governor server mervyn king so max kaiser what do you think about this this issue savers versus speculators and here is mervyn king saying that in fact quantitativ

that wall street still has yeah bill black needs to get medieval on jamie diamond. all right let's spend the next a minute or stop talking about australia you famously have been calling for the australian real estate market top out and start of decline of all your work steve came this is the one prediction that has a lot of the others but it seems as though you're being vindicated if you bring us up to date the i will buy i made that call about house prices falling forty percent over ten to fifteen years in about i think oldest to two thousand and seven and in all in october of two thousand and seven the government brought in what i prefer to call the time vendors boost where rather than giving the first time seven thousand to strike and all those was a deposit towards the first time like i have them fourteen thousand and twenty one thousand they bought a new place and sites like victoria weapon up to an extra fifteen thousand dollars so in the case of victoria depending on where you bought you can get a thirty five thousand dollars check from the government simply

he and others bill black and they're all debating what the demands should be and even if they should make any demands but steve king would you say that a simple demand it be we need a new pick or a commission yes absolutely we need somebody with balls running it on bill black is my obvious nomination day bill did a brilliant job with the sightings and commission he put hundreds of people behind bars who belonged there for that behavior in the months process that was a drop in the water compared to what happened since then with the the dot com bubble and the subprime but nobody's going to jarl over it now there's absolutely bucket loads of fraud in the entire system and you need somebody with the balls to psych them on and put people behind bars over this and start breaking down the political power that wall street still has yet bill black needs to get medieval on jamie diamond. all right let's spend the next a minute or so talking about australia you famously have been calling for the australian real estate market top out and start of decline of all your work steve came this is the o

an interesting thing, david, we've seen this, i think all of us, whether you've lived through bill black'sast few years or yours or mine or a lot of other folks who have been working on this issue in this country through their own means, we have seen that the dependency of the power base, in this case, it's obama and geithner, but in fairness to obama and geithner, it was bush and paulson before that, they all have one thing in common, which is they refuse to engage in the conversation publicly that we're having right here. why, ultimately, do you think we have been so prevented from being able to have this conversation at the highest levels of our country? >> well, look, let's just be real here, okay? this is a criminal racket that has paid off politicians since the clinton administration. moving forward, you know, i believe, and will black can speak to it much more elegantly, this these people should be prosecuted under rico laws, the racketeering influence construct organization act, that was designed to prosecute the mafia. we have a criminally designed wall street racket that needs to

been giving money to banks in exchange for garbage bags full of empty receipts, elliot spitzer, bill black and countless others in this country want to know when we've been giving our banks money in exchange for worthless garbage. >> that's an absolutely fair question, and i think the other issue that we've got to focus on is the structure of the fed itself. as i said, does it make any sense for the people who are regulating the banks to be the bankers themselves? i don't think so. we've got another provision, dylan, in dodd/frank which revealed during the financial crisis that $16 trillion in various interest loans went out to every financial institution in this country and central banks all over the world as well as corporations in america and wealthy individuals. whom made that decision and who is today not making the decision that small businesses all over the country who are starved for affordable loans can't get them? why isn't the fed helping small business the way they helped wall street? bottom line is. fed is an enormously powerful agency. b, very few people have a clue about how

. >> reporter: bill black says a lot of it was clearly criminal, and the failure to prosecute is scandalous. >> this is the worst financial e largest epidemic of elite fraud in history. and none of the elite are going to prison. >> reporter: and many americans are not happy about that. jake tapper, abc news, the white house. >> by the way, president obama had something to say about a story abc's brian ross broke right here. the president defended his administration's $528 million loan to solyndra, the california solar energy company that went bankrupt and kept taxpayers on the hook for the money. the president said the u.s. must keep giving loans to clean energy companies, to compete against the chinese. >>> and also at the white house today, a portrait of two kinds of strength. we got a new look at congresswoman gabrielle giffords and that trademark smile of hers, as she and her husband, astronaut mark kelly, visited to celebrate his retriment from the navy. abc's john donvan on the remarkable event. >> reporter: the ceremony at the white house today was for the retiring astronaut, a navy

. >> reporter: white collar criminologist bill black says a lot of it was clearly criminal, and the failure to prosecute is scandalous. >> this is the worst financial crisis in history, driven by the largest epidemic of elite fraud in history. and none of the elite are going to prison. >> reporter: and many americans are not happy about that. jake tapper, abc news, the white house. >>> and major fallout today from a story abc's brian ross broke right here about the government's $528 million loan to solyndra. the california solar energy company that went bankrupt. jonathan silver, the head of the energy department branch that made that controversial loan, is resigning. he's been under fire since solyndra collapsed and left taxpayers on the hook for the loan. >>> and also at the white house today, a portrait of two kinds of strength. we got a new look at congresswoman gabrielle giffords and that trademark smile of hers, as she and her husband, astronaut mark kelly, visited to celebrate his retirement from the navy. after more than 20 years of service. abc's john donvan on the remarkable event

. >> bill: thanks very much. not too many blacks occupying the protests. is this a racist deal or what? then herman cain beats president in a new rasmussen poll. brit hume reports on that and >> bill: personal story segment, as we heard ad nasa yum, when the tea party first came on the scene, there are not too many african-americans participate not guilty that movement. same thing could be said for the occupy wall street crowd. you don't see too many black faces in the demonstrations. so is there a racial element here? with us, dr. mark la mont hill, teaches at columbia university. explain the lack of african-american presence here. >> first of all, my thing is i've been part of social movements since i was a kid. unless there is a racially motivated movement, like a civil rights protest, black person was beaten up, i don't see black people at mass protest, period. >> bill: why is that? >> i can't say exactly what it is. but i think we tend to devote our energy to issues that directly affect ferns. >> bill: civil rights issues? >> yeah. it's not to say we d

bill: come on. you haven't seen anything directed towards blacks. >> that's what i'm saying. re is anti-semitism there. we're talking about race in terms of plaque and white, i haven't seen it. >> bill: even though one or two people may be inappropriate in the tea party, you can't brand the whole movement that way. it's crazy and dishonest. >> most of white house are smart and honest won't say the tea party movement is racist as such. what i do find is people who are racist tend to identify and connect with the tea party movement. >> bill: i don't know about that. it's an economic movement. didn't have anything to do with race. it's empowering the local and state governments rather than the federal government. that's what the tea party is with. >> when the people start using language of taking our country back. >> bill: they're not doing it -- >> blacks go, those days weren't so good. >> bill: it's taking your country back from whom? it's from the liberal big spending government. not from african-americans. >> no, but that rhetoric connects to white nationalists that have a wh

one of the chief prosecutors of the banks during the savings and loan crisis a few decades back, bill black. he's currently an associate professor of economics and law at the university of missouri, kansas city. zack carter joins us as well, senior political economy reporter with the "huffington post" and a man we're always happy to see. professor black, what is your assessment of the proposal from president obama? >> well, first, the numbers are considerably worse than you just showed. that figure of 12 million is actually how many houses are underwater by at least 125%, not 100%. >> so, again, because it goes to my base criticism, which is, i'm not sure that the political parties, and for that matter, the media, comprehend the magnitude of this problem. why is understanding the size of the problem so important? >> because, you realize immediately that the proposed solutions, if they worked perfectly, would do virtually nothing, given the scale of the problem. so they haven't even tried to solve. we've gone from yes, we can, to actually, we're not even really going to try. > >> and zack, i

black ceo's in this country. you choose a guy at merrill lynch to make him -- >> bill: knock it off with the black business, will you? >> bill, why o'neill? >> bill: one of the things that happened. we treat everybody the same here, tavis. >> you do not. >> bill: it doesn't matter whether they're black or white. >> bill, the bottom line is what we're talking about here is fairness, we're talking about justice here, we're talking about not protecting wall street, not one -- they've been arresting protesters, bill, left and right. arresting protesters left and right, now the talk on fox news is that it's costing taxpayers money for police to do their job, not one banker, they can arrest hundreds of protesters but not one banker has gone to jail for his crimes. >> bill: they didn't violate any laws. >> how do you know? >> bill: hold it. knock it off! >> all the predatory lending. why would you say something like that, brother? you don't even have the evidence. you don't know. >> bill: professor, hold it. if you're going to make an accusation, professor, as a learned academic that o'neill or the other fat cats on wal

if a teacher is asked what their favorite color is they have to say brown or black. >> bill: the teacher >> suggest that my theory is you should start even younger and go to the infant level and get rid of white diapers. replace them with brown and black. >> they are not really white. >> bill: white paper, the little kids see white paper they will think that white is best and they will denigrate. >> one more thing, this idea came from america. i believe we sent it to them revenge for them sends us pierce morgan. >> something like that? >> yeah. >> bill: i have selected our pal susan sarandon as you saw early in the program jesse watters went out to talk to loons who don't like capitalism. susan sarandon is a big, big supporter of that group. roll the tape. >> i encourage everyone to participate in the political process because that's also part of what america is. this is also what america is what democracy is. and, you know, we can't let our arab brothers with and how they are changing things. i don't think -- hopefully the tool kit exists here for nonviolent change. >> bill: i have no i

bill: you are wealthy fight promoter. >> i'm a wealthy american who happens to be black. >> bill: they are going to marchionne your house >> yes, but they have never been slaves. they have never been slaves. all right? let's deal with it now. you can make it in america but we admonish them. don't come with the gun, the pistol or the knife or the bomb. come with your protests, your demonstrations. >> bill: are you going to admonish them. >> no practice americanism and that's what they are doing. let us find ways and means to resolve this, bill -- >> bill: can i give you one piece of advice? don't tell them where you live. i want you to go down and tell all those people. >> bill o'reilly is going to be able to save you. going to save you because he brings the facts heretofore. he doesn't play the game of throwing a rocket at your hand. he don't play the game of hypocrisy. we don't need the violence. when you go to the factor you are going to get the real deal and i love being with the factor with bill o'reilly. >> bill: all right, thanks mr. king. one piece of advice be careful down there tonight. pinheads and patriots on