well the director of that film discussed it with us we interviewed charles ferguson who is out with a new book i should mention and we took stock of where he sees us now and from wall street clients shelling out for consultants to help their daughters get into the best sororities to the royal version of austerity in europe we'll cover the financial stories that triggered our gag reflex today let's get to today's capital account. it's been roughly four years since the financial crisis and it doesn't feel like a whole lot has changed on wall street big banks are bigger six hundred fifty trillion dollars of over the counter derivatives are still out there let's look back though at the aftermath of the financial crisis as presented in the oscar winning documentary that came out in two thousand and ten inside job goldman sachs lehman brothers what was happening what do you think about selling securities which your own people sink or. bother you as a hypothetical no this is regal. so hypothetically and really looking at the recent news it seems like history just repeats itself we have the b

convictions of senior executives we have not and this is something that inside job filmmaker charles ferguson famously talked about in his oscar speech when he said that very fact that no senior level executives in the three years since the financial crisis have gone to jail he wrote about it in the huffington post today too and an article i spoke to him earlier and it was really interesting it stuck out to all of us here on set in the control room what he said about the reaction to his work it turns out it isn't without consequence just listen to a bit of what he told me. i've lost a few friends. you know some of these people were personal friends of mine your least acquaintances for fairly long period of time. and also you know city so much money surprise and certainly grow. people newborn administration and people close to you bob the true issue. will no longer speak with me which is so last pretty candid pretty interesting makes you wonder the price that you pay first seeking truth to power or questioning the establishment but that's just my perspective you can draw your own because you'l

all we have time for from our jaunt to new york but will be back in washington on monday with charles ferguson of inside job until then follow me on twitter good or you tube or hulu and from everyone here thanks and have a great night.

all we have time for from our jaunt to new york but will be back in washington on monday with charles ferguson of inside job until then follow me on twitter or you tube or hulu and from everyone here thanks and have a great night. for sure is that so much about me or something i mean to see me maybe even a lot of people have been hearing of my birthday this most recent financial scandal gives the term bank robbery an entirely new meaning i mean if you ation of whatever it is the largest economy. in tool stores is here. or going global and. it's only viral. load you. choose your place take your stuff and. the stuff that. makes your statement. split the words. you plug in student loans. uh you.

all we have time for from our jaunt to new york but will be back in washington on monday with charles ferguson of inside job until then follow me on twitter that or you tube or hulu and from everyone here thanks and have a great night. wealthy british soil. is no time to go to the next we'll go right on out of. their. markets why not. come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report on our.

different area of national policy of domestic policy and first i want to play you a sound bite from charles ferguson take a listen. there have been several cases where individuals in the united states have been prosecuted and imprisoned for. by leading money laundering laws and same sions against iran and other same ssion states or of states and in contrast we know that several very large banks actively assisted iran in money laundering hundreds of millions of dollars. and he said they've gone unprosecuted and the reason i bring this up is because h.s.b.c. the big bank that has been dealing with for a decade issues having to do with them allowing money laundering allowing illegal transfers of money it's been something the regulators have been trying to rein in for a decade reportedly and some execs were on the hill yesterday and and fact one of them the compliance executive resigned and they were apologetic but those aren't prosecutions and it was interesting the most interesting part i thought was that the senate subcommittee used h.s.b.c. as a case study for problems it said are widespread in the

oh yes that's a great movie yeah right ok well wouldn't you want to know what the filmmaker charles ferguson thinks now because if you recall in his oscar speech he gave that kind of famous open where he said it's been three years since the financial crisis and no senior level executives have been convicted remember yeah well when you want to know what he thinks now you're on the scene even longer so you're going to find out on my show in just a couple minutes because we spoke with him we had a lengthy interview it's really interesting to hear what he thinks about all of the scandals going on now and also the price he's paid for taking on the establishment because he hasn't come out unscathed it was really interesting to hear his insights looking forward to it thanks so much lauren i was a dozen for now for more on the stories we covered go to youtube dot com slash our to america or check out our website or to dot com slash usa and also always follow me on twitter martin i'll see you right back here in a half hour and stay tune for capital account. admission of free credit take three months

the full rundown of the show i have to tell you i just had a really interesting interview with charles ferguson you may recall he's this filmmaker of inside job which won the oscar for best documentary took a look at wall street's role in the financial crisis he's also out with a new book so i had the opportunity to talk to him and i asked him how just trying to get interviews for his book and what the reaction has been since coming out with inside job which of course had interviews with a lot of high level members of i guess what you could call the establishment who clearly it seemed to me at least weren't expecting a tough interview you may be really surprised to hear what dr ferguson had to say we'll play it for you hopefully at the top of our show and have much more on lie bourse a don't miss it. certainly was a movie that was really important i think brought a lot of things to the attention of the american people about the financial scandal that's going to do it for us for now we will be back in a half hour thanks for watching i'm christine. culture is that so much different each musician

the show it just wasn't the focus of this particular episode you're referring to but here's charles ferguson getting into that interview with us. one of the people who was instrumental in getting that done was robert rubin winston the secretary of treasury and what you were charge from the treasury department you became vice chairman of citigroup you know at citi group he made over a hundred million dollars to keep beating up the financial crisis so. he also just point that out. for to was asked does warren ever get to take a night off that's dedication for a governor a's no not really i don't get a lot of time off and yes please on the race thanks for suggesting that on that note it would be a good time to leave you there's more i want to get to but what to save it for another time because that is all the time for today thank you so much for watching make sure to come back tomorrow and in the meantime you know you can follow me on twitter at lauren lyster and you can give it feedback on the show catch any you missed and you should definitely subscribe at youtube dot com slash capital accoun

steagall at the time in the process here is inside jobs filmmaker and predator nation author charles ferguson talking to us about it take a listen. citi group wanted to acquire travelers fact it did acquire travelers before the glass steagall act was repealed and so it was at the time an illegal combination of a commercial bank and an investment bank was travelers which was at the time an insurance company also owned a large investment bank. but alan greenspan the federal reserve gave them a pass gave them a one year exemption in during that one year exemption they got the law changed they got glass steagall repealed. fancy that and now the chairman the former chairman is advocating for something that sounds a lot like it or at least the spirit of it things seem a little paranoid paranormal needless to say this is wall street begin suing itself over a lie we're manipulation here to talk about all of this and more is our co-host today he will stay with us the whole show jim rickards senior managing director at tencent capital partners he's also author of the best seller currency wars the makin

. >> in your book, you mention the academy award winning director charles ferguson and his documentaryinside job." in his book, ferguson confronts the former federal reserve governor frederic mishkin who served on the fed committee charged with oversight of consumer abuses. ferguson asked mishkin why he did not heed the warnings of robert gnaizda. >> he warned in an extremely explicit manner about what was going on income to the federal reserve board with documentation of the kind of loans that were frequently being made and was listen to politely, and nothing was done. >> i don't know the details in terms of -- in fact, whatever information you provide, i'm not sure exactly -- to be honest, i cannot remember this kind of discussion, but certainly, there were issues that were coming up. >> the former federal reserve governor. >> the people like robert gnaizda and those in south carolina working among the communities that were on the wrong end of the subprime crisis, right, that were seen their homes foreclosed on, that were saying that would be stripped out, serial refinancing -- those