they're all goldman sachs alums. the bill back to goldman sachs. they go back into government. -- they all go back to goldman sachs. they go back into government. it is a white house issued. >> this goes back to the media in a way. i will go back to goldman sachs if i must. remember in august when there were about 1200 people doing civil disobedience around the white house protesting the keystone pipeline. the corporate mainstream media was like this on that. imagine if 1200 tea party members hitched themselves to the date of the white house. when occupy launched in september in new york and then moved across the country, suddenly there was more attention being paid to other movements. it exposed how the media has done such a disservice to this country in the last few years by saying there was one movement in this country, the tea party. there are many other movements. the occupy wall street movement has brought into sharper relief and force the media to pay attention to other issues and movements. i could take off 10 or 15. -- tick off to enter 15

do you think the big banks like goldman sachs played a.i.g. for a patsy?hat they did. >> lewis calls the goldman sachs-a.i.g. deal one of the original sins of the looming financial crisis. other wall street firms were so jealous of the goldman deal; they got a.i.g. to insure another $30 billion of what turned out to be worthless securities. but lewis thinks the fiasco had more to do with wall street's stupidity than corruption. didn't understand these things. >> not well enough. they--they... i mean, there's a wonderful little vignette in the big short about a leading bond trader. he was subprime mortgage bond trader at morgan stanley, a fellow named howie hubler, who manages to lose somewhere between--it's hard to know-- but $7 billion and $12 billion in a matter of six or eight months, more than any single trader has ever lost in the history of wall street, and no one knows his name. >> according to lewis, at the end of 2006 and the beginning of 2007, when the commercial bank j.p. morgan became the first to recognize the danger and fled the subprime mark

sachs truck yeah care is actually goldman sachs is the fall of the c.f. he's is involved in greece is involved in italy is involved in all of them j.p. morgan is mark involved when i meet and they these conferences and they meet to collude and fix prices and steal money and then that governments will impose austerity measures to help pay for the money that's been stolen. well according to the article here successful litigation by the c f.t.c. against an executive at a failed financial firm would be a rare win for the u.s. government agency which just struggle to hold senior bankers to account for alleged misbehavior in recent years notice how one point six billion euros could go missing or were dollars in this case and it's all alleged that tens of billions of euros that went missing from the greek government accounts and now the italian government accounts it's all alleged misbehavior and misconduct. for i remember correctly in the case of grace and dale's mother they turned up to some billion euros or something and they're suddenly magically appeared ou

one of these companies was the investment bank of goldman sachs. in 2005, we discovered goldman sachs had used about $60 million of shareholder money to purchase 800,000 acres of land at the bottom of the world at tierra del fuego, and then donated the land to a green group called the wildlife conservation society. we took our complaint to the goldman shareholder meeting, which was the last one for hank paulson, a fearsome wall street personality who was later treasury secretary. we turned a 10-minute meeting into a one hour nightmare. paulson was not only the ceo of goldman sachs, he was also the chairman of the nature conservancy. paulson's son was a trustee of the wildlife conservation society, the group that picked up the acreage. that was only the tip of the iceberg. we learned the whole sordid history of this tract of land and its nightmarish intersection with sustainability. the land had been purchased by a washington state timber company named trillium. the ceo of that company turned out to be rather green for a timber company ceo. he had p

no comment from goldman, no comment from morgan stanley.est with you, don't read too much into this, his new -- this guy has lots of clients, not just sac. he did not deny that sac was as big client. i'll tell you, everyone thinks that is a charitable way of looking at it. they think this is somewhat of a bet. cheryl: you mentioned to rudy guiliani. he was back there working early on. i was sitting with him when the news crossed. >> reporter: one of the big pioneers of commodities trading. people forget this guy was a big deal on wall street. then he got indicted and fled the country. it was interesting. he was pardoned, but he never really -- cheryl: bill clinton pardon to number 40 left office. >> reporter: think it was eric holder. that is -- reading of subjects. a lot of pressure right now for the ira's and an essay, but it's interesting. all of those. right now, listen, it's a sleepy story. i got the story and a bar that was a very sleepy last night. this was a big topic among equity traders. they're talking about this and saying that

knew about those wednesday, thursday and friday. >> goldman is adding on, but goldman did downgrade their gdp forecasts. >> that's interesting. >> you're seeing that show up in the casino stocks, gaming stocks, winn, mgm, las vegas sands that gets about 85% of revenue from china and winn about 75 and mgh 20% but highly lefrmgd so it will respond more to that's rates. >> las vegas sands improperly named. josh, good to have you. >> you got it. >> over to the nasdaq and seema mode following the movers there. >> apple is now off of its lows and holding on to that 400 key support level so apple is now down just about 3 boston on the day. but as josh was pointing out, very much a global story. chinese adrs reacting to concerns over china's cred crunch problems. a lot of hotel names with exposure to ma could you, asia's hot spots particularly underperforming sectors and wynn down and sands down about 6%. worst performing stocks, not tech stocks, rand gold responses the worst response due to fluctuations in gold prices and goldman sachs cutting its gold financials. shares of rand gold down 15% ov

about thirteen percent of all equity trading some of the largest our goals are operated by barclays goldman and create sweets and is attempting to determine if the perms priority area trading is using the firm's own dark pools to manipulate the market. finally more bad news for our fair headed once favorite banker jamie diamond looks like j.p. morgan is set to lose one point six billion dollars on some allegedly shady deals with jefferson county alabama according to bloomberg that's because it took the lead in arranging risky security deals that pushed the county into the largest us municipal bankruptcy good luck at the next shareholder meeting to be let's get to what's in your prime interest. during the financial crisis the term too big to fail came to prominence as the federal reserve and treasury arranged for bailouts for some of the largest financial institutions dodd frank attempted to remedy this by creating the financial stability oversight council or we call f. stock is composed of representatives by most u.s. regulators and is chaired by the treasury secretary jack lew is mission i

goldman sachs up solidly today. ceo lloyd blankfein. a good chunk of the business initiative goes to the city of new orleans. of course the financial industry goldman chairman and ceo lloyd blankfein along with new orleans mayor. so to the small business initiative in a moment. but first, lloyd, let me start by getting your take on what is going on in terms of the recent moves and federal reserve. do you think the market initially misunderstood what the fed is -- all of a sudden we have nervousness, then three days of rally or don't pay attention to the near term moves. >> the mark set big. and not homeogenius. bernanke said we will be data reflective but it is based on growth specifically then well ease ourselves, taper ourselves off of quantitative easing. he said potentially by the end of the year. not necessarily if the data doesn't support it. but otherwise -- and that's what he said. the market of course, took this as, oh, my god, the first moment. and it would be an avalanche. and that doesn't have to necessarily be the case. >>

as a co-chair of goldman he could do no wrong.n -- >> if you look at his wall street career, and his political career in a diaper context, why did he get thrown out of goldman? he did, he took bets, he did things that were careless, he had a long string of doing things that partners at goldman did not like, including engaging in merger discussions without alerting the board, in the end risks the term's balance sheet. he got ousted from goldman, he became new jersey senator and governor, as governor you can make a good case he was reckless with the budget could and spending, not a great economic stuard of that state. that is why chris christie came in and beat him. neil: despite all of the fat jokes. >> yeah, he had a lot of money. neil: do you remember that. >> yeah the fat jokes, and obama, he is close to president obama, why did it take two years to bridge these simple charges that took fox business network two weeks after the implosion to figure out. we reported this because people looking at the books after mf global imploded,

it's been a day of hot air here of prime interest but let's not jump the gun let's talk about goldman sachs all right well what does too big to fail exist all only five years since the financial crisis began goldman sachs. yes it does act according to author simon johnson and read the latest squid report on bond market pricing don't worry we won't report that's when i said. vampire squid. well there's this raises an interesting question and i think yes it does ok all the big banks and their lawyers david spoke and some other groups they're pushing back against this idea too big to fill in naples the banks to make more money but they're not even acknowledging that too big to fail exists because and that's ridiculous right because a lot of these firms have been systematically important financial institutions subsidies and goldman itself in this report finally acknowledges that too big to fail exists so well if you ask david stockman he said it's all made up well you know david stockman says a lot of things a lot of with with which i agree but i would say on the goldman front it's pretty

capital and goldman sachs and a.i.g. and all the rest of them that never should have been near the taxpayers' dollar. so we would have had a serious recession, but no great depression, no black hole. >> solman: but if you were in government then, you would have been willing to roll the dice on it? >> absolutely, because we're in serial bubbles. >> solman: stockman blames the federal reserve-- under alan greenspan and ben bernanke-- for inflating bubbles for years by keeping interest rates low. since the housing bubble burst, the fed has been fueling the economy by creating money to buy u.s. bonds and mortgage-backed securities. but in doing so, says stockman, the fed is just inflating yet another bubble. >> the problem is, you're creating a system of bubble finance, where interest rates are so low that people can speculate. so what this is, is a gambler's dream. >> solman: so you think we're cruising for a bruising? >> i think we're doing what einstein once said is the definition of insanity. he said, "if you do the same

. >> and what about goldman unilever? >> well, i like it. >> and what about kb homes? >> well, the mortgage rates, i like it. >> and anything tonight? >> well, in the gloom of the daily, go listen to the people tonight, and they will tell you why ron baron could be right that the market could go up big

. >> you said banks, does goldman sachs fall into that category is this. >> it's a bank. let me tell you something. i love the people there. i love gary and the whole place. i think the stock has treaded water for the last week, week and a half. it should make a push towards 168. i like it. >> lastly starbucks leading off once again, shares of the coffee giant hitting an all time high in today's session. mike? >> we were talking relative to names like duncan. let's bear in mind this company is the second largest publicly traded company in the country. it's worth $50 billion, half the size of mcdonald's. i wonder how much longer growth can keep up. i still like the stock but i'd wait for a pull back before i would add.

he is the son of an immigrant, colgate alumnus and former goldman sachs partner. this is almost 20 minutes. [applause] >> we will look at the videotape later. welcome, everybody. what an honor for me to be here. it has been a great day already. somebody won the powerball jackpot, we don't know who yet. we think murray just $120.-- won $20. we will go to the videotape later and check it out. for breakfast, i had what i now could the breakfast of champions, yogurt. i recommend the raspberry. in 1981, i sat where you guys sit today. that is a decade before most of you who are graduating today were born. i sat with my parents, my classmates, and my golden retriever. some of you will get your diplomas from your parents or some relatives today, my golden

global was no longer a household word the goldman sachs lead see f.t.c. finally and i emphasize finally goes after the very man who threw the entire futures industry into disarray this would be john corazon to talk about all of this and more is senior fellow at the lou big bunmi says academy mark thorson mark thank you for joining us good afternoon bob it's great to be with you thank you well let's jump into this snowden affair we have a critical trade agreement right now that ecuador has renounced and what implications does this have for the financial markets if any. well the implications for financial markets in the general economy are all negative of course the fact that n.s.a. is in invaded our rights and invaded our privacy and the fact that congress who seen the n.s.a. testimony says that we've only seen the tip of the iceberg means that this is a triple negative for the economy look at the strong arm tech companies and to releasing their customer data you know and that's going to upset them it's going to make them lose confidence and it's going to

global was no longer a household word the goldman sachs lead c f t c finally and i emphasize finally goes after the very man who threw the entire futures industry into disarray this would be john to talk about all of this and more is senior fellow at the lou big bunmi says academy mark thorton mark thank you for joining us good afternoon bob it's great to be with you well let's jump into this snowden affair we have a critical trade agreement right now that ecuador has renounced and what implications does this have for the financial markets if any. well the implications for financial markets in the general economy are all negative of course the fact that n.s.a. is in invaded our rights and invaded our privacy and the fact that congress who seen the n.s.a. testimony says that we've only seen the tip of the iceberg means that this is a triple negative for the economy look at they strong arm tech companies and to releasing their customer data. you know and that's going to upset them it's going to make them lose confidence and it's going to make them reconsider placing jobs in facilities

is goldman knight gary gensler is on the way out as chairman of the derivatives industry regulator the commodity futures trading commission this is after spending a three year implementing dodd frank recently suffering a losing battle with fellow commissioners it's also out there the office of inspector general released a damning report in may on his performance or lack there of the m.f. global debacle a front runner for his replacement is yet another goldman sachs employee amanda and tara though she spends most of her young career as a senate staffer but according to the huffington huffington post tara has a little experience in the actual fight which will regulation sounds like a perfect match. and insider trading is still illegal but according to a wall street journal article trading firms have been giving economic data ahead of everyone else for happy feet for five thousand dollars a month was a one thousand and twenty five dollar connection fee waivers will give you the gravelly followed consumer sentiment reports two seconds of the public two seconds might not sound like a long t

is goldman knight gary gensler is on the way out as chairman of the derivatives industry regulator the commodity futures trading commission this is after spending a three year implementing dodd frank recently suffering a losing battle with fellow commissioners and also after the office of inspector general released a damning report in may on his performance or lack thereof in the m.f. global debacle a front runner for his replacement is yet another ex goldman sachs employee and mandarin tara though she spends most of her young career as a senate staffer but according to the huffington huffington post tara has a little experience and the actual financial regulation sounds like a perfect match. and insider trading is still illegal but according to a wall street journal article trading firms have been giving economic data ahead of everyone else for i have two feet for five thousand dollars a month was a one thousand and twenty five dollars connection fee waivers will give you broadly followed consumer sentiment reports two seconds of the public two seconds might not sound like a long time

you know at a goldman sachs it's i think i can just specify that it's a lot more about teamwork and at some of the other places it's more about more the individual so. they're very different in nature they're all successful in what they're successful at and the negatives you know they you know there's a lot more regular regulatory scrutiny now and i think some of those cultures are more conservative in nature and some of the more not so conservative right now i think in order to succeed with regulatory environment being what it is you have to be. a lot more cautious very well thank you so much for joining us this is kyle harrington herrington capital management thank you so much. and stay tuned because up next we dig into the final print of money market reform what's in store for this two point five billion dollar industry that nearly imploded in the last financial crisis when a prime interest producer bob inglis and i though doc weren't the over the five a college major that are best or worst suited for the financial industry. she was looking for love and she found marriage she wanted

thank you very much >> commissioners i'm john goldman of goldman architects. we're at 94 - you was also hired by the client to do the financial analysis. in this document that i'm reading from the planning department it doesn't describe any harm done so i was surprised to hearing hear there was harm done to the community. from what i'm reading hereafter the initial doubt there is any developer in the city who is opposed. so the question is does it harm anybody? i can tell you on our project it would be a huge difference. we're providing the affordable housing on site but even with deferring $400,000 that represents the projection equity. if we were doing the funds ourself it actually helps us. i'm sure every developer is in favor of this and i am >> thank you. >> hi i'm joe. i'm here to speak in support of ending the deferral program. i live between 15 and fourteenth street. i'm part of the homeowner association. i want to say as a resident being in the heart of the boom we've seen rents rise and people being pushed out and evictions. we've seen developers com

morgan goldman sachs or citibank as an institution they're committing fraud but i think really the deal breaker here the deal clincher if you well would be on an institutional level that of the central banks including the bank of england they're bringing in mark carney who's a fraudster from the moment of do you say go from the bank of canada and i think this will light the blue paper of complete insurrection in the u.k. because he's going to start printing money with reckless abandon inflation is going to start raging and wages are stagnant and dropping and if you thought the poll tax riots were hot and. whoa we're going to. ever covered one guy's report don't want. your job more. so in the united states if say some occupy wall street protesters were going to be meeting in front of bank of america to protest these crimes these ongoing crimes those protesters would be met with pepper spray to the face gas tear gas thrown at them was so why are these bankers allowed to walk calmly in there and continue committing these crimes and so you mentioned that part of this criminality is covered