regulators just need to enforce what's on the books plus author and professor of behavioral economics dan ariely breaks down why executives at wall street firms may feel better about cheating customers if their primary responsibility is to deliver for shareholders and in loose change the wall street journal reports of elections coming up japan's main opposition leader is stepping up pressure on the good old central bank to ease more and get the country out of deflation and oh politics let's get to days capital account. so stephen colbert there recently took on high frequency trading. on his show this week in a way only he can hear is a highlight. in higher frequency trading computers can move millions of shares around in minutes earning a tenth of a penny off each share and that adds up to serious money when they finally take it down to the wall street coin store. and he's not the only one you may recall see f.t.c. commissioner bart chilton has been out talking about the need for more regulation to address the potential risks. including on our show he was talking about it now the rules he propos

right and still ahead we'll hear from professor dan ariely on why executives on wall street might not feel bad about cheating their customers and in loose change will spend a few minutes on the fed's most recent minutes we'll discuss later in the show the first your closing market numbers. money and technology innovation all the moves developments around russia we've got the huge earth covered. resistance is not of politics but a culture. this could. all its own. cultures of resistance on the margins. the. coming. lok sabha coming out. welcome back over the past several decades we're certainly seeing companies shift their focus from prioritizing long term growth to the idea of maximizing shareholder value now this approach not surprisingly has led to increased attention to short term goals which has not only arguably her employees and taxpayers but may also be at odds with the company's long term objectives earlier we talked to behavioral economist dan ariely about the psychology behind increasing shareholder value and how this might be an additional motivation for wall street fraud w

dan ariely we hear you on that author and professor at duke university. all right let's wrap up with loose change of various special loose change do you notice something different here voicing one else's in the dying of popular column is steve keen you know while he's a guest of the show author of debugging economics at he's ramping up a campaign to continue debunking economics neoclassical economists with his minsky model and program and he's going to be on our show in a few weeks november nineteenth in the flesh in the studio but for a little teaser we wanted to talk to him about it a little now just so we can be a little ahead of the current with the other media we've heard is in the pipeline so dr kean thank you so much for being on the show and it's nice to see you tell it tell us what's new with minsky what you're working on now. yeah well the program is something i've thought of developing with a grant for mine it was just about. about six hundred hours of programming time has gone into it and it's now i think of working prototype to contrive what

so what's the hind a decision like this we talk to professor of behavioral economics and author dan ariely ellie and j.p. morgan chase has reached an agreement in principle with regulators at the s.e.z. to resolve claims related to mortgage backed bonds handled by j.p. morgan and bear's terms of the firm j.p. morgan of course the choir now it doesn't seem settlements deter wall street wrongdoing as we seem to see it continue so what would will discuss and greek lawmakers passed an austerity bill mario draghi announces he's keeping interest rates where they are but what's causing a real stir is the e.c.b. putting a princess from greek mythology europa on the euro up with their planning at least we'll talk about it in loose change and catch up with the special guest economist steve keen to see what he's up to let's get to today's capital account. when it comes to cheating or potential criminality on wall street and in washington we've heard explanations like these over the years you sold a customer something i don't recall selling hundreds of millions of that deal after that all right let's

right and still ahead we'll hear from professor dan ariely on why executives on wall street might not feel bad about cheating their customers and in loose change we'll spend a few minutes on the fed's most recent minutes we'll discuss later in the show the first your closing market numbers. for the. money and technology innovation all the moves developments from around russia we've gone through huge earth covered. more news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. giant corporations rule today. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm trying hard work is a big. change . for we. welcome back over the past several decades we're certainly seeing companies shift their focus from prioritizing long term growth to the idea of maximizing shareholder value now this approach not surprisingly has led to increased attention to short term goals whi

you can get our full interview with him on our website and still ahead we'll hear from professor dan ariely on why executives on wall street might not feel bad about cheating and their customers and in loose change will spend a few minutes on the fed's most recent minutes we'll discuss later in the show the first here close in market numbers. are three. sometimes you see a story and it seems so you think you understand it. and then you glimpse something else and you hear or see some other part of it and realize everything you thought you knew you don't know i'm tom hartman welcome to the big picture. the mission of free accreditation free in-store charge is free. range month free is free. to tide free. download free blog as morning video for your media projects and free media and on to our t. dot com. more news today violence is once again flared up the film these are the images the world has been seeing from the streets of canada. the giant corporations are the day. the mob. well. science technology innovation all the developments from around russia we've got the future covered. resistance

turns out the letter of the law is murky in this area and it's on their side so earlier i spoke to dan ariely professor of behavioral economics at duke university and author of the book the honest truth about dishonesty i asked if we're to assume companies will opt not to do the right thing as long as they can get away with it legally. it's kind of the mixture of good news and bad news so i've been tempting people to cheat and steal money from you know companies but individuals and what we find is that we in a certain range of people can actually be this all of this and still think of themselves as all these people and i think the same thing goes for companies so what companies do see may be officially still murky but completely outright lying with this deal called earnings calls and so you know what we are those even thinking about bankruptcy wouldn't cross our mind when they're actually preparing for it i don't think they would go that far but will they be able to rationalize what they're doing and basically enjoy least that well you know we're preparing for it but we know so sure only goin

regulators just need to enforce what's on the books plus author and professor of behavioral economics dan ariely breaks down why executives at wall street firms may feel better about cheating cus.

at my table is ari melber, msnbc contributor. norry tan dan, kate dawson and david rodi, a reuters columnist and contributor for the atlantic. thank you all for being here. >> i want to start with you. the article, the piece you wrote was about the inequalities that have been revealed in the con te context of sandy. >> i am one of the privileged new yorkers. there has always been divisions in the city but this storm brought them out more vividly than ever. i was able to go to a hotel. i was in a mandatory evacuation area. i went to this hotel. if you had wealth, you could shelter in a nice place i had. if you had a steady job, you didn't have to work. all around the hotel were restaurant workers that had no choice and stayed. there was a restaurant serving food two to three hours before landfall, maids in the hotel, a garage attendant, hadn't been able to reach his sister. i said, where did you spend the storm? he said he slept in his car. >> those images from staten island, particularly the stairs to nowhere, it is an iconic image of the lowe

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