as well when enron there was one single analyst i forget her name it was a woman who was saying enron is a black box of nothingness it's all fraud and she was attacked by everybody else in the mainstream media all the powerful people like ken lay and they they said it was the strongest company that friends with bush is their powerful political force that it about operating to one day in the same thing here is he's he's attacking people who point out that it's a fraud it's a lesser dollar classic ikarus flying too close to the sun lloyd blankfein saying they're doing god's work jim geiger thinking the u.s. treasury bond is somehow worth something that it's not and they believe that they are in league with their god because there is tim geitner in heaven slurping on the ambrosia of his own mel seasons that he and hell's copius lee to give themselves the voluminous attitude of the god in his own mind not realizing that he's actually lying in the gutter drinking bad twenty twenty and being kicked. in the head by some poor person he's bankrupted that's who's running the treasury in america

no, they'll probably find a way to ignore enron by then, but... you know, it's just non-news. it's not news. i want to ask you one final question about one of your less-well-known movies. you've had a good career in film and television, steal this movie was not a huge box office success. no, it was not. and you play anita hoffman, the wife of abbie. and you were quoted at the time as saying that "this is a film i'm doing in part because i'm liberal. you're not going to see me in the charlton heston story." uh-huh. was that a good experience, and did you get to know anita? i did; i did get to know anita a little bit. she passed away shortly after i met her. she was very wonderful. i got to do--i'm not really an actor who tends to do roles that require a lot of research, back story, interviews, things of that nature. this was a movie that did. i was very pleased to do a lot of reading, research, interviews, meeting of people at the time, you know, who were significant in her life, meeting anita a number of times, talking to her, meeting abbie hoffman's children, friends of abbie

we learned it with enron. we learned it with m.c. i worldcom. we learned it with leeman brothers. but there is a flip side too. this was a play on the economy recovery. and we saw other highly levered companies like in the rest chain, whether rubby tuesday or dine equity come all the way back and give thousand percent gains. if it hadn't been for the fine this company could have made it. they had a lot going for them. >> you are suggesting share holders sell but you yourself are holding on? >> yes, because i don't want anyone to hold on to dead money and it's probably dead money. but i'm also still investigating and seeing what is going on in the company. because i want to understand exactly what happened here and why there were these misrepresentations. >> tom: there is the update on horizon lines. with our street critique guest hilary kramer, game changer stock.com >> suzanne: here's what we're watching for tomorrow: an update on the u.s. employment picture. we'll find out how many jobs were added or lost last month. and we'll see auto sales for the month. we'll also talk global

bernie madoff, enron, and ponzi schemes all had one common theme. most of them, if all of them, had auditors who failed miserably to protect the common people, and that is why the country is the way it is. also, i would like to bring up the point that last week, president obama held a conference on bullying. i was surprised it came up because i was under the impression that he might have included, that not only are there bullys for children, but there are plenty of bullies trying to distract honest public employees from doing their job, basically going around whistle- blower laws. that is why the radio station ksfo has to have a wednesday whistleblower show to give people a chance to speak. supervisor campos: thank you. is there any other member of the public that has not spoken that would like to speak? seeing none, public comment is closed. i have a couple of quick follow- ups. the first is a follow-up on this point about the issue -- look, i believe that before you can move on, you have to recognize what happened and knowledge to the extent there

curious i'm going to say mark crispin miller enron your professor and corporate propaganda expert there are certain techniques that that propagandists really need to you is and they're so basic that you know they leave the scene in arguable to us or we never even notice them but one thing that one must still of course is cloak on this message and a kind of moral righteousness you know we we believe in liberty we believe in free enterprise we hear that all the time but i pay sixty names crony capitalism but it implies something that most americans will you know feel a surge of positive emotion about right now there is a tacit opposition there between the free enterprise and communism and that's the other technical guy that has to be you know still you've also got to have enemies game and was able to service scapegoats and against which you can and all of the angry feelings that the propaganda will also get psyched. for them the socialism conjures up all this weird will be a long list of all bogeyman obama's associated with battles by those right wing for example is also associated with w

look at lehman, enron, mci world comm, it's possible across the board, and you always want to have cash, fixed income, real estate, and never go more than one percent in my position, especially in -- in any position, especially in a small cap. but can you make a lot of money and you can have doubles and triples, and that's what you want to aim for. that's why stocks -- that's really the lesson here. >> tom: last week you mentioned you were still holding onto horizon. do you still own it? >> i still own horizon, and it's up 29.4% from when i was on thursday talking about it. you never know. look at what happened with k-mart. everyone thought that was dead money, shares going to zero, and it turned right around. >> tom: to that point, were you behind last week on that dip below a dollar? >> no, i was holding onto the shares i already owned and i'm waiting to see what their restructuring advicer can pull off. conversations are going on with creditors. there's a lot of debt there. however, horizon, i like it because the catalyst in my buying it in the first place is that they have protectio

told us enron was wonderful as i recall that it was the economy was wonderful i mean these guys don't have it exactly the best record in terms of talking about what the future's going to bring or their bond ratings if you remember that two thousand and eight. congressional hearing where there were instant messages from two of their employees saying that they would rate of a bond issue even if it were structured by carlos. so someone probably worth it seemed like they were they were wrong about them so i think yeah they shouldn't be taken as a credible source and the idea that the united states is going to default on its debt it's it's just really not credible idea for not only the foreseeable future but any kind of future use seriously as has both economist and you know i mean you live in this town you can't be a little observer and don't think that the report that the tea party republicans are going to play chicken with the debt well not so that was in west and p. was talking with a word while they were they were implicitly talk yeah but if you look at what they made it was talking a

steagall you know also also by our good friend phil gramm and his wife wendy who was on the board of enron. that we wouldn't have this problem but we wouldn't have this problem if we didn't have the community reinvestment act in this bubble that was created with the housing already invested really. just in that they're not creating any c.e.o.'s at all we had eight hundred trillion dollars where the c.d.o. there from zero nine hundred ninety nine eight hundred trillion dollars the g.d.p. of the entire planet sixty five trillion dollars he had built these are the result of these two pieces of legislation from phil gramm and i wanted to i don't think you can blame phil gramm for the housing bubble that burst and i think it. probably a greenspan actually we probably agree that the federal government shouldn't build out these businesses but to go in have real good politics and regulate wall street and the stone age that's not going to solve any problems it's just going to harm our economic output as i just mentioned to get any degree and that's magnificent power now is that what it did is that

the middle of it right now right it has to keep expanding just like made up to keep expanding and enron had to keep expanding this is an enormous ponzi scheme and as you point out once the gig is up it can pack it down into a huge catastrophe very very quickly and the fact that our leadership in america is doing nothing of a pair of people for that is really quite tragic all right chris lawrence and it only got through half my questions a lot that eon again soon thanks for being on a passing report big pleasure and mine all right and that's going to do it for this edition of the kaiser report with me max keiser and stacy herbert and i think my guest chris martin sent if you want to send me an e-mail please do so at kaiser report at r t t v are you with a lifetime this is a nice kind of thing.

leaders of both parties agree that with the trauma facing the country they would have to engineer and enron around this constitutional problem. >> host: explain what the problem is. >> guest: the electors, the people who vote for president, depending on what state you're in, and maybe get a free agent, david have to vote for the person they said, but virtually nothing said about what an electorate is supposed to do. if the candidate he or she pledged is dead. >> host: the only person who has an almost equal number of electoral votes to the president who has just been shot and killed is his opponent, not his vice president. >> guest: because the electors are pledged to kennedy for president and johnson for vice president. so, they are sitting there, never lifted a so i think 1976 or something of the first thing that happens is the eisenhower administration, he's still president, and the congressional leaders and the sitting vice president who happens to be richard nixon, are sitting there, you can't have the sense that nixon who fought tasha who thought the election had been stolen anyway, m

ago about the wave of corporate scandals over the last 10 or 15 years, really pretty extraordinary, enron, worldcom, adelphia, tyco, healthsouth, they just went on and on. there seemed to be no common nexus. these people didn't know each other. they weren't part of the same investment banking circles it wasn't like my-- one day it dawned on me, wait a minute there is a common theme here. misleading investors, filing false financial statements, lying, essentially about the state of the businesses, with the consequences of investors losing billions and billions of dollars, peoples losing confidence in american business, and these people like the characters in my book, are role models. they're successful, they're rich, well educated, community leaders. and they were brazenly lying and damaging people as a result. >> rose: what is interesting about the book is that you were able to recapture through your own journalistic absoluting, you were able to recapture the moment and leading up to the moment in which they had to make the critical decision. >> yes, i'm really pleased. i was able through

markets, which was deregulated under bush in 2001, which created and run and we know where that went-- enronnd we know where that went. why can we not regulate these markets and let oil prices be dictated by the cost at the wellhead -- well head, not by speculators? host: thank you. philip klein, mideast oil anand banks. guest: he was a democrat who voted for obama and now he is frustrated because obama did not deliver. it gets to one of the problems why obama will have a difficult reelection. not that republicans have a good candidate, obviously. it is more complicated than that. one problem is, when you are running for office without much of the governing record, as obama did, it is easy, through rhetoric, to convince a wide swath the people that you're with them. that is one of the ways that obama was able to cobble together this coalition of independents and liberals and make them both feel that he was sort of one of them. however, once you are in the office, you have to start making actual decisions one way or the other, and that is when you start is a. -- when you start disappointing p

. -- enron was the fifth largest company in america. that did not happen overnight. it could be -- if they cut back now, it could be 10 years or more before the next batch of these guys come along. that is very, very dangerous. host: from the "wall street journal," -- and also from the "washington times" -- next is san francisco as we ask what your message to congress is as we go to mary, a democrat there. you are on, good morning. caller: good morning. america has been the most wonderful country in the world, but a nation that is divided among itself will fall. and it is terrifying. i have seen discrimination. i have seen affirmative-action. i have seen the assassination. i have seen parties with police -- bullies running congress for over 20 something years. and what is going to happen to our country? every major civilization that has ruled has come to the point where we are now. look at rome, persia, european powers, england. america is standing on the brink of destruction. we are not going back to what we said, "all men were created equal." host: last call from c

under a republican administration, and ron basically was doing the same thing -- enron basically was doing the same thing and everybody went to jail. host: if you're talking about the packages of the mortgages, you are talking more about fannie mae and freddie mac. if you're talking about the banking -- caller: goldman sachs was packaging bad mortgages and selling them the people, telling them it was a great deal, you have to get in on it now. no one went to jail. i do not understand why this was not blown all over the media. host: will that be an issue next year in the campaign? caller: i hope someone brings that up. not only that, but everything. guantanamo bay is still open. i am really blown away. he kept secretary gates to the whole campaign they were just complaining about what a horrible job republicans were doing. absolutely nothing has changed. host: bank you for your call. -- thank you for your call. caller: i am 62-years-old, a retired vietnam veteran. after two years, we have one of the most intellectual, academically-proven president of all time -- presidents of all time

very good friend in the position not long ago and the fbi who said to me the fbi cannot prosecute an enron case because the do not have the capabilities and it takes extraordinarily important capabilities to prosecute that kind of case that they did have back then. i don't do if my friend is right or wrong but they're worried me because we have seen a lot of activity in the financial markets and the rest that at least raises suspicion of misconduct. so david, i feel we have had a very good discussion. thank you for being such an excellent moderator and thanks to my fellow panelists here and for these very patient people out there for the morning's discussion. it's been a good discussion i am pleased to be a part of it. >> please join me in thanking the panel. [applause] [inaudible conversations] [inaudible conversations] >>> coming up next in just a tnute a discussion on the nmvernment's role in disasterer response. the first price high school in winner in the 2011 studentcam competition focused on this issue for his video. video, here's the documentary. >> my name is math that you want to

friend in a high position not long ago in the fbi who said to me that today the fbi cannot prosecute an enronase because they do not have the capabilities, and it takes extraordinarily technical capabilities to prosecute that kind of a case that they did have back then. i don't know if my friend's right or wrong. but, boy, it really worried me because we've seen a lot of activity in the financial markets and the rest that at least raises suspicion of misconduct. so, david, i think we've had a very deep discussion. thank you for being such an excellent moderator. thanks to my fellow panelists here and for these very, very patient people out there for the morning's discussion. it's been a good discussion, i've been pleased to be a part of it. [applause] >> please join me in thanking the panel. [inaudible conversations] [inaudible conversations] >> here's a look at what's ahead on c-span2. >> tonight on "the communicators," fcc commissioner mignon clyburn on the wireless industry and the commission's role in the proposed purchase of t-mobile by at&t. >> we're a little bit different from the depa