he just... he just can't stop being dick fuld. and the whole firm came to be stamped with that. >> narrator: many believed fuld's lehman brothers was too big to fail. and fuld seemed to think neither geithner nor paulson would ever let it go under. >> dick fuld is still believing in the orthodoxy. even though paulson is saying publicly, "you're on your own," he's like, "what, are you kidding? if there's trouble, the government's going to come and take us. they are going to come and do what we need to do, because the world can't live without lehman brothers at the center of the financial system. it'll be a complete nightmare." >> narrator: and fuld believed he had a possible ally in geithner. he was one of their own. he'd brokered the bear deal, and he was a member of a very exclusive club. >> the board of the new york fed is made up of many of the titans of finance. that's really, in a way, the ultimate club on wall street. they determine who the president of the new york fed is. it's really the ultimate insider's initution. >> dic

these hard earned money from the likes of timothy geitner and jamie diamond lloyd blankfein and dick fuld and john chorus line that these guys deserve their wealth you know the american president wants redistribution of fraud not redistribution of wealth because there is no wealth there's only fraud the dollar is fraudulent the banking system is fraudulent and the wall street titans are fraudulent and the american president wants to their cut of the fraud has trickled down from. they don't want to be just they don't want to be in any way productive they just want some of that money that's being stolen from the top they want some of that fraud that's their ambition in life to get some of the fraudulent dough well max the other thing so here is you know obama talking about reform then there are the bankers talking about reform then there are the congresspeople talking about reform then there are the protesters talking about reform as if it's not a criminal act it's just a little tweaking that has to go on and a little bit of sharing of the ill gotten gains here's a headline j.p. morgan hear

they stole from you in may the drones of the middle east it's a waste of time it's the drones of dick fuld trench ring that we made obama. all right let's go to states never stacey hey max seven hundred million dollars that sounds about the same as what jamie diamond j.p. morgan stole from m.f. global clients yeah funny that i guess us a round number that they'd love to steal i know just talk to the news people around this room all agreeing these guys are shysters and need to go to guantanamo and beaten within an inch of their life if not worse ok well here's my first headline max good morning vietnam d.j. makes pitch to troubled borrowers a u.s. military veteran made famous by his portrayal in the movie good morning vietnam is accused by a consumer group of preying on financially troubled homeowners seeking to lower their mortgage payments aging crow now or the former wartime disc jockey who was played by will robin williams in the one nine hundred eighty seven film is now a lawyer in washington his firm improperly sought thousands of dollars in upfront fees in exchange for helping borrow

it's fraud the playbook of lehman brothers we now know shortly before the collapse the executive dick fuld took seven hundred million dollars all that in a report that to the f.c.c. or any regulatory body they just. all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them of global in a collapse before the collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stacey ebert thanks so much for being on the kaiser report thank you max don't go away much more coming your way so stay right there. welcome back to the kaiser report i'm max keyser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy well what have they done they're basically trying to keep everything the way it was and beautiful stay sis this means no debt reduction no taking apart the big banks and no

it's fraud the playbook of lehman brothers we now know shortly before the collapse the executive dick fuld took seven hundred million dollars all that in a report that to the f.c.c. or any regulatory body they just. all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them of will in a collapse but before that collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stacey ebert thanks so much for being on the kaiser report thank you max don't go away much more coming your way so stay right there. fifty two meters. more than one thousand tons. skin thickness thirty centimeters the guinness record. commemorating the battle of stalingrad. the mother than called. on our t.v. . shows that so much could be going to make a lot of people very easily look at what is happening in french voters appear to be moving to the left one priest is leaning hard to the right what is causing the collapse of the political

i'm surprised they didn't give ex-lehman ceo dick fuld the congressional medal of investing. if the s.e.c. wants to stop this nonsense they've got to go after the individuals, not the firms, fine them or make them give back their bonuses and perhaps refer them to the justice department for criminal prosecution. you don't want institutions to be prosecuted criminally because that can wipe out a whole company and a huge amount of jobs just because of a couple of rotten apples. but do you want those bad apples to pay and suffer. we know insider trading has been cut back. talk to as many people as i do in the industry and you know how fearful they've become, and that's what jail time does. there's almost never a comeback from jail in this country except of course for the brilliant martha stewart. if executives would have to forfeit their bonuses back to the shareholders or have them clawed back while at the same time being sanctioned for life, really take away their livelihood, believe me, there would be far less chicanery than there is now. here's the bottom line. we don't get j

. >> narrator: the focus was ceos like the chairman of lehman brothers, dick fuld. >> you belong in jail you blame it on the people who want housing. >> you belong in jail. >> ...growing backlash against wall street... >> ...frustration with the economy... >> ...anger from the u.s. public... >> narrator: and in cities across the nation, protests erupted... >> banks got bailed out; we got sold out. >> narrator: in chicago, bank of america ceo ken lewis was seen as one of the villains. >> ...story the obama administration doesn't need... >> narrator: in washington, outrage at wall street and the bailouts pushed the anger to the edge. >> we're on the sidewalk. and now you're on the sidewalk too. (coughing) >> other one. other one. >> narrator: and the anger was not just confined to the streets. on capitol hill, congress responded to the public anger. they summoned the heads of the nation's biggest banks. >> let me be frank, my constituents in illinois are angry and so am i. >> what did the banks do with the taxpayers' money? >> i cannot believe no one's prosecuted you on this. >> it was chi

in 2007, 2008, you did not go after dick fuld very much with lehman brothers. maybe you were not on the air at that time. guest: i was not on television until april of 2009. when i first got my job at msnbc, i was doing the 6:00 show. i made a commitment that "the ed show" was going to lead every night with health care. it was the story of our time. it was the chance to do something for a lot of people. that was my focus when i first came to msnbc. in reference to the story you're talking about, you are correct. host: jack, republican in south dakota. hello, south dakota. caller: i would like to point out a couple things. you're getting it all wrong. for the first two years, who owned the congress, the senate, the president. mr. obama. guest: it's good to hear a voice from south dakota, where i spent a lot of time. you are exactly right. the president, the white house, the house, and the senate. he also had a record number of filibusters. he also had a minority party that stopped absolutely everything. i'm not making that up. host: our next caller, mark i. in a