about it talking about a fraud ask like moment that's happening in the present and this is the goldman sachs facebook deal. why is it worse than the crappy cvo those that goldman was admitted lee selling referring back to what we were just talking about fearless sun on this latest scandal all of this is a spin on the investment bank knowing more than what it is letting on to to the investors and trading on the back of that are being able to trade on the back of it and so therefore being able to profit on the back of withholding information and to a large extent the facebook deal was like that it's a private deal so it doesn't fully fall under the same public purview and rules as as insider trading per se but well quillan basically did was raise a lot of capital and they just went off shore to raise this capital because of the scrutiny that was put on the steel in the united states i like to think also by some of the articles i and others were writing and they didn't want to be bothered and so they when they raised money for this facebook deal off shore and the reason it's shady in that respe

morgan lloyd blankfein of goldman sachs into a room they basically they crapping each other in their underwear then they they rip that out and then they sell to each other for a fee and then when it turns out that what they sold which was the basis for the entire collateral of the american economy turned out to be nothing but the matter of jamie diamond and laurie blankfein and their banks were threatened with insolvency they then get hank paulson it was a girl that sachs has been was working on the treasury to get out of front of congress put a gun for their head said either give us three quarters of a trillion dollars are going to blow up your economy we were going to threaten martial law so they've got the good things they've got the physical model security sellers they've got the compromise legal precedence that no rule of law it's a club talk or c. and they so with each other and they call this the economy american economy is based on selling pooh pooh from one bank to another for fees and then when it too much people when the system they declare bankruptcy they demanding a bail

goldman sachs -- you can say many things about goldman sachs but they know about money and be counted. they warned that these immediate deep cuts would have a negative impact on the recovery as we are trying to recover. >> word came out from senate democrats late last week that in terms of the seven-month spending bill, they are combing the budget proposal and there could be $33 billion in additional cuts this year. are you saying that is the wrong approach and house democrats do not think that is the right way to go in terms of cuts? >> i supported some cuts on the floor today that are not part of the republican cut proposal. we should get rid of the second engine for the strike fighter. we can come together on some specific cuts on the merits. what is wrong is to come up with an arbitrary number and slash in a way that will put the recovery in jeopardy. you have to remember that all three house republicans never even showed up for the vote on the fiscal commission's proposal. they opposed it. it is interesting to say, mr. president, why didn't you include more from the commission? e

with her traders along with morgan stanley and timing of goldman sachs you know they're just putting all the prices up and up and up and wisdom was appointed to visit burma i can't this is going to explode so this is a she says she's the mastermind if i can say of the new revolution the world wide revolution where i said the wicked witch life masters and her little black book of spells concocted to financial derivatives to monopolize commodities all over the world drive the price to unheard of levels as a way to basically this is a male imperial model doesn't because if you control the food you control the world this is a j.p. morgan to tell you things in english don't forget that she's anglo irish you just choose anguish oh my god so the empire is there right so and in your book you detail here on page thirty three actually you've got this is kind of insider information of this this is not this is this is you know this is the confidential plan of the g.p. morgan committee's. decision is actually what they're going to do in the in which places and what they're going to buy you know d

virtual article for example on farmville exactly you know there's a goldman sachs is trying to get a virtual food business by quoting facebook of course they have farmville so she's marie antoinette and it is a revolution and it is caused by our food prices and going back to french ministry of course to france and italy the six things they try to float the acid got the currency here which was backed by you know commodities and real estate which i relapsed and they're not sort of terms of price of food what is was good what does this exactly history is repeating his whole self well the global the global but not don't forget before louis sixteen do worth a fact into french history was don't look you know the ngos guy can maybe she is the regular recognition of the ilo know all of that you will squat on going to john about that he invented by the way to defeat money. so and the whole thing collapsed and. there was a new revolution in paris you know there was like a ten or fifteen people dead you know who can compile and and this led to people where written of course you know they lost e

morgan goldman sachs and wall street they're basically they want to get out of the paper game they want to get out of the vienna currency game time do they want to control the stuff that they want to control the food they want to control the industrial metals they want to control the precious mines in this decision that was made at least by by by blights my service in the end of two thousand to two thousand and seven. two thousand and six because they know that the whole model of credit derivatives is going to explode you don't look at the g.p. morgan she saved the bank she said to t.p. morgan bank because her and her team then had the expertise to see that all this model of credit default swaps all the algorithmic smallville were fake were false so they didn't went into the toxic into sue prime's that's wired there was a book written about jamie dimon called you know the last men standing of course i mean they knew this look at the whole thing has got to explode so did they were not nuts the g.p. morgan chase didn't went into the surprise toxic stuff so what they're doing claimed the r

end of last year or so or was getting through thirty and then the see after you see under former goldman sachs guy gary gensler and his crew simply expanded the position limits and expanded the margin requirements or reduced the margin requirements and in such a way they allowed for more of the criminals the criminal banking elite to manipulate these prices even more but you know there are hundreds of millions of us there's only a few of them price of silver is going to five hundred dollars an ounce and that will pretty much take care of j.p. morgan but go back to these agricultural products joshua brown and with the torches and pitchforks may have been put into cold storage as the economy rebounded but trust me the villagers know where they left them so he's saying that the bank was right to put away this double long like highly leveraged exchange traded no which would help drive up the price of already high commodities agricultural products well everything on the margins in the commodities business is being examined by the speculators and the governments too are beholden to the people becaus

morgan or goldman sachs for you know speculation when it comes to the prices or the prices of we are korea i mean how much money that has just so you can't blame it all on wall street obviously i mean it's i know it's much fun but you know you know you've got to blame some of it on god to the weather it's the droughts and fires in russia impacted wheat prices the flood in australia an incredible impact on foodstuffs prices around the world and we don't like to pay attention to that other than to just show pictures but that actually does impact the bottom line at the grocery store when it's something like a fifth of the continent underwater when you have events like that that are unpredictable it is difficult necessarily to see how far the stuff's going to go you can't blame it all on wall street and it's not necessarily detrimental that that's where money is going either right now we're it's not like prices are at astronomical unheard of prices were just back in two thousand and seven levels actually if you look at exactly where the price index are and it spiked in two thousand and e

oh henry paulson where was the from warmest your goldman sachs keep going down the line you know wall street saw jack washington hands off with the big boys only read the people are the ones that have to abide by the laws so it's always easier to blame the mom when in doubt just playing the mob if you're able to it's a last game spend but you know it's a process made out of conscious you and other folks are bringing this issue to light for example charles ferguson the director of inside job winning author last night here said what he had to say about all of this was i'm. i must start pointing out that three years after own horrific financial crisis caused massive fraud not a single financial executive is going to change and that's why. he makes a good point writing those c.e.o.'s and executives still raking in now half of profits so now much has changed now known it was so apologetic at is that i mean you know i thought he's going to cry and all those little hollywood wimp of cracks clapping you know where is the justice they said we were going to get swift justice that's the obama ad

bush and former goldman sachs c.e.o. then secretary treasury and folsom who warned that if the taxpayers didn't pay up our economy would collapse the market had frankly already tanked taking with many of the state's pension funds and other investments creating huge budget crises and persisted this day bill a few months after one firm on wall street i.g. the firm cash their check from us taxpayers they turned around and paid their traders over one hundred sixty five million dollars in bonuses and they in turn then bailed out goldman sachs and poles and old firm to the tune of over thirty billion dollars. was on the verge of bankruptcy just a few months earlier but after the cash infusion they suddenly had enough money to pay thousands of their employees people who crashed the system millions of dollars needless to say a lot of people were upset so democrats had an idea confront what they saw as a clear waste of taxpayer funds they proposed a bill in congress and it went through the house of representatives they would asse

point but i you know i want to set this whole thing because he's not the only one to question how goldman sachs is getting off scot free still raking in huge profits and massive bonuses here you know a lot of people are concerned i mean if you listen to voices of protests or even actually if you look at the pictures on the giant placards being paraded around all over places like madison wisconsin you see blame wall street not said that this is i.t. has come to a sort of weird situation where virtually everything people don't like what's going on in the united states is somehow blamed on wall street but on the other hand we haven't seen too many prosecutions we haven't seen too many people go to jail and we see a lot of the leading firms from before two thousand and eight mostly still around and still in positions of leadership and speaking about i want to mention that the documentary our film inside job about the two thousand financial crisis won an oscar last night and the direct there charles ferguson had something to say about the financial crisis and some of those bankers take a listen. i m

a difficult job, i think you'll agree, writing the history of the last decade and leaving out goldman sachs. i'll take goldman as an example, but it's just an example. i could equally well have taken any of the major financial institutions that have played such a dominant role in modern economic history. it has to be historically significant that on the eve of the crisis the chief executive of goldman sachs was being paid 2,000 times the average income in this country. it has to be significant that a bank had net revenues greater than the gross domestic product of more than 100 countries, and it has to be significant that that institution at a time of financial crisis not only converted itself into a bank holding company from an investment bank, but also secured indirectly a bailout of aig at a time when the treasury secretary was the former chief executive officer of that bank. call me cranky, but i just think that's historically important. [laughter] for some reason lloyd blank fine's picture disappeared from that last slide i showed you which makes me feel slightly uneasy, i wonder what

rule which would affect the nation's largest firms like bank of america, jp morgan, chase, and goldman sachsthe firms have to review the results of trades or other business decision tied to an employees bonus pay. >>> coming up, it was warm winter day around the bay area. lots of record temperatures shattered. we'll see if the rest of the weekend looks like the next. >> mike: on the eve of super bowl xlv, seven new members in the pro football hall of fame. one player played for >> alan: parts of the country are experiencing some cold weather, especially out there in the south. we set record highs here in the bay area. this is tonight's sunset you're looking at. the perfect ending to a beautiful warm winter day. frances dinglasan is here. the groundhog predicted an early spring but this early? >> frances: it's better than summer this is very nice. warm weather. let me show you a live shot first from mount tam, looks south toward san francisco and the bay bridge. it will be breezy in the hills but another warm day tomorrow. we broke records in 13 cities, possibly more, and i wanted to share so

after my second story, i started getting offers from goldman sachs, merrill lynch. i said, i wanted to do work that was meaningful to me, so ended up working in the prison system at rikers island. i know all of that was in so many ways possible because of the work that you did. i just want to say that i honor you, respect, love everything that you have done, all the roads that you have paid to allow me to do the best things that i have done. [applause] >> 44 years apart these two stories happens. clearly, life is not the same. so i went to ask you, miss coleman, what has changed since your time? and, bryonn, after that, what has not changed? when you listen to this story 44 years later for what you sat down and fought for, what has changed? >> well, that is a difficult question. i have to say, depending on what part of the country you come from -- when i have visited and montgomery, people ask, what did they get out of the civil rights movement? one thing. the street that i lived on, instead of calling it east dixie drive, they called it claudia colvin drive. [appla

citigroup, goldman sachs, j.p. morgan chase and morgan stanley will reportedly lead the i.p.o. uncle sam still owns 74% of ally, after bailing it out with a $17 billion loan during the financial crisis. ally is not commenting on the i.p.o. detail and the treasury has hired its own advisor for the deal. >> tom: 2010 was a good year for most chrysler dealerships. eight out of ten finished the year with a profit. for the most part, that money was used to upgrade or expand their dealerships. chrysler c.e.o. sergio marchionne says he's relying on the 2,300 u.s. dealers to help the company meet its goal of selling two million vehicles worldwide this year. in the coming weeks, chrysler will start selling its compact fiat 500 in u.s. showrooms. >> tom: investors can't recognize a bull market for stocks when they see one. so says tonight's market monitor and he thinks the bull run will continue. he's john dorfman, chairman and founder of thunderstorm capital. john, always nice to see you. welcome back to n.b.r.. >> thank you so much. >> tom: so what makes you so comfort that this bull m