what it isn't then are therefore true that a corporation like a goldman sachs or j.p. morgan that's committing crimes commensurate with other crimes that the state is giving capital punishment for that these corporations and someone who represent these corporations should be should be given capital punishment for their crimes against capital if they're individuals should they also get capital punishment for similar crimes all you could really say about this is that there's been so much tension building up as a result of the failure to act in any way to discipline these banks and corporations there's just so much tension building up there sooner or later when it is released it's liable to be very shocking and surprising and you know where we're heading into a situation that i think is going to resemble the french revolution only you know instead of being directed against aristocratic or gorky it will be directed against the corporate or oligarchies. or you know it could be very ugly but let me move the cut in the first i mean take somebody like john chorusing right he's

connection because you did used to be a goldman sachs you know we often hear these reports of crony capitalism and you know this connection of so and so worked at goldman with this with this person is it really like that is it really kind of a boys and girls club where you kind of support people from goldman or are you know more likely to kind of have these opportunities. it's very much a boys' club really i mean yes i was there and yes i'm not a boy but it tends to be a boys' club it tends to be you know relationships within the firm when these people leave the firm that are cultivated over years you know that started in universities it started with with family relationships i mean there's so much goes into this this combination of sort of crony capitalism and old boys' network all rolled up into one that starts at a level of international finance and sort of goes into international politics and back the other way so yeah it is definitely like that it's all very much you know you scratch my back i'll scratch yours if you're really out in the cold i might ignore you because i d

goldman sachs a guy me and louis who. now goldman sachs i mean a lot. of goldman sachs. is my eyes were right there all time this is going to continue as long as he's here to slap armrests. all these people you know it was quiet i don't remember what it was because so many times huge. drawers. looking just really group attorney. oh well he did not want to die. but he didn't do. you know and here's the securities. and drug study group maybe something like you know seven hundred billion dollars off and the fine was a couple hundred million i don't remember exactly so literally these corporations to do illegal things with the fines don't even call for. what they made him do with fraudulent activity it would be cool sure heard of greed and arrogance this is no matter what you do we're going to go live now we're going to hear this i'm on the wrist and we're going to cashier first off you may and freddie macas already cost us consumer. almost two hundred billion dollars it's pretty. cool we're throwing other. dollars. all right so you're making the point that for every billion

goldman sachs i mean a lot you have goldman sachs so it is pretty amazing for right america all time this is going to continue as long as p.s.e.c. here's a slap on the rest all these you know study group was quiet i don't remember what it was the cox only farmers huge. jars of little history group attorney. oh well. what's your theory and did i know it but he didn't. you know and if you see here is he. going to write maybe something like you know seven hundred million dollars off and the fine was. really i don't remember exactly so literally. to do illegal things these were the fines don't even come over. what they make in doing a fraud on actually it we've got the culture of greed and arrogance this is no matter what you do when you're feeling now we're going to hear you on the wrist and we're we're going to stick a very last may and freddie macas or me cost us thousands. almost two hundred billion dollars. does it shock that we bail you out. throwing. dollars. all right so you might get the point that for every billion dollars money stolen by bank of america citigroup or other bank

dumped onto the population what about the teamsters goldman sachs lost money in their pension fund and only by threatening physical violence were they able to get that money back yeah but again on that one small thing yes there they were perhaps one but jibe oh brock's on here's a video another remakes sent to us you might like it. so . you think. you. know you. like yeah those remarks are nice i like oh i'm a coming well so let's look at the side of the savers now let's see if the few headlines coming from the savers judge challenges two hundred eighty five million dollars citigroup settlement this is judge jed rake off and manhattan and his challenge to lawyers to explain why he should approve a settlement of serious securities fraud allegations when citi group incorporated neither admits nor did nice wrongdoing so remember last week we covered this story where citi group settled a one billion dollar fraud fraud. again fraud they settled this fraud for two engine eighty five million of which ninety five million is the fine with the f.c.c. but i'm memory of the conversation w

goldman sachs a guy me and louis who is. now goldman sachs i mean a lot. goldman sachs it is pretty amazing america all the time. and it's going to continue as long as the u.s. you see here for the rest of all these people you know she was going through what it was really you know the cost so many farmers huge. journalists you know looking to see the group maternity turn oh well if you're not you want to die. he didn't do it i'm not sure you know and if you see here is my hand went right study group maybe something like your seven hundred billion dollars off and the fine was a couple hundred million members actually literally. corporations to do illegal things the fines don't even call for. what they may enjoy we don't try to see it we've got the culture of greed and arrogance this is no matter what you do we're going to bail them out we're going to do this. and we're we're going to stick a fair result in freddie macas already cost us consume. post two hundred girly books are there any. daily. throwing. dollars. all right so you might get the point that fo

goldman sachs a guy me. who you know. the easy. bowl the sacks i mean a lot you know goldman sachs is pretty amazing for right america they're all trying this and it's going to continue as long as the yes he's here for the rest of all these you know study group was quite. well i mean the costs only are yours hugh. the jurors are looking for citigroup attorney. oh well he wants to die. he didn't do. you know and if you see pierce he's. truculent right citi group maybe something like your founder julian hours off and the fine was one hundred million members happily so literally. to do illegal things the fines don't even come over. what they may have been doing defraud me it would be cool sure. crazy to parents this this no matter what you were feeling now we're going to hear this. and we're we're just here we are soft. and freddie macin already cost us please. close to one goalie it's pretty. cool we're throwing. darts. but. all right so you're right in the point that for every billion dollars of money stolen by bank of america citi

goldman sachs i mean very well you goldman sachs is pretty amazing america all the time this is going to continue as long as he has he's here for. all these things was quite what it was because so many times huge. jurors. group attorney. oh well he wants you to die. but he didn't do. you know and if you see here six. months or so you're maybe something like your five hundred dollars off and the fine was a couple hundred million members actually literally. corporations to do illegal things with the fines don't even call her. what they may in doing the crime it would be cool sure her. crazy day care case this this no matter what you do we're going to bail them out we're going to do this to rest and we're we're going to stick a spear first of all i mean freddie macin barly cost us consumer. it's almost too much billy. already. throwing. dollars. all right so you're right in the point that for every billion dollars money stolen by bank of america citigroup other banks they get fined maybe a hundred fifty are two hundred million dollars so obviously it behooves them this employee continue

ok to join the euro currency greece's right wing government secretly hired goldman sachs to come up with a scheme to hire it's massive to hide its massive deficit you can't be in the euro if your deficit is more than three percent of g.d.p. the right think government has screwed things up badly so the higher goalkeeping in your opinion dollars jim oh it's just completely secret to come up with a way through seizing financial derivatives to completely flimflam the world markets the other governments and european central bank using massive. and when it was uncovered by the new socialist government when they came in and exposed the holders of the securities to the greeks which they didn't have fought it they just live while they don't the stuff they demanded all kinds of that was knee high interest as you can well imagine and so the greek economy has to has completely imploded trying to pay off its incredible extra interest surcharge which came from goldman sachs running a scam. to greece which which ran the government didn't run the funds with goldman sachs a scheme and they walked away yo

to greece which which ran the government the deficit and the puns this goldman sachs a scheme and they walked away you know with their half billion dollars you know unscathed as they seem to do in every situation including the one where they almost have found this country greg greg palast thanks for your great investigative work we'll talk again soon very welcome tom thank thank you greg for more on what's ahead for greece i'm joined from our new york studio by professor custis on iraq to professor please correct my pronunciation if it's wrong associate professor of sociology the new york city college of technology and sony and author of the forthcoming book remaking scarcity from capitalist inefficiency to economic democracy professor welcome. thank you for. being able to be with you thank you could you tell me how to say your name please. titus if this does indeed come down to a vote choice to the greek people have. well it's. what the greek government is trying to do right now is it's trying to cling to power because these asperity programs that have accompanied the rescue packages

a mini goldman sachs. rather than brokering for clients to use their money, they took big debts on eurozone debt and this backfired to create the seventh largest bankruptcy by assets. they posted their largest ever quarterly loss last week, and the junk status rating, which the credit ratings gave it last week, caused the banks to get worried a real mess for mf global. >> big question is where did all that money go? a big surprise out of greece, also, where the prime minister is taking that last-minute bailout deal to the greek voters. could we be looking at another crisis here? >> it's very interesting. i've been speaking to my contacts in greece, having spent a lot of time in athens over the last couple of years, they say don't be bemused by the international press saying this is a surprise. the prime minister has been under pressure to get these issues out there and a referendum could be a good clearing of the air for greece, but it does mean more event risk and more uncertainty and we won't get the ref

other donors, goldman sachs,

direct evidence of global what they're saying is the insiders including john corps ened former goldman sachs guy stole billions and so the customers are going to have to pay for the other customers that have had their money stolen so he didn't steal from every single customer he stole from lots of customers and the way they're going to bail these customers out is by having the customers it didn't have the money stolen from them to pay off to share their money with the customers a bit of their money paid up one of they talking about here they're going to share in the losses what kind of ideology is that how they are propaganda are they using to get people to accept this as rational and ok remember last week we covered the story of the chicago board of trade brokers throwing applications for mcdonald's out the window of protesters calling themselves the one percent and suggesting that occupy wall street people are the marxist there is nothing more marxist than that which the chicago board of trade traitors created. by having to share the wealth clients must share redistribute their wealth due

satchs and this -- goldman sachs.here is still not attention from this company. >> one thing about koch pie wall street. i don't know if there is too much attention to m.f. global. maybe not. there will be very little difference. >> this is in the context of italy and euro zone. the company in greece and how it goes forward. they put a bet on the country, steve. bet wrong. >> yeah. bet wrong. in a significant way. one of the reasons that he was not able, he didn't do this at goldman sachs he wasn't making the decisions alone. >> look, i it don't make too much about joe biden of all people saying nice things about politician. or former politician. at a campaign stop. that to me is less than the big issue here. the bigger issue here, as the doug mckelway piece demonstrated earlier is there was $600 million missing. unaccounted for, for five days. it didn't tell the federal investigators about it for five days. gary gensler so close to corzine he had to recuse himself from the investigation said basically yeah. that is a

all the litigants in your lawsuits so all the law people are suing the underwriters maybe it's goldman sachs or j.p. morgan anyone who's got a lawsuit pending they use the i.p.o. stock as payment as hush money to pay them off they use it to take care of any errors and their error count which is they've accumulated by doing illicit illegal deals over the years and they. churn that a few times and they use it basically a currency to favor political courage because of course in washington most lobbyist insider trading is legal and they use it to help their campaign to deregulate market so they can further perpetuate their fraud and embezzlement of the markets and the american and global citizens through outright manipulation of fraud and welcome group on the biggest fraud of the week yeah the that's the interesting thing about this is that unlike a lot of the last wave of crime banking crime like the subprime crime is that almost all of the financial media was saying openly that this is the policies he was don't invest in this but it's still a pop thirty percent roi it just goes to show you tha

goldman sachs by giving stock to insiders beyond what they're allowed to buy s.e.c. law and they must take it public or they will be definitely in breach of the law but of course we'll have to do is give some i.p.o. stock to congressman to rewrite the law because that's the way it works on wall street if you break the law just rewrite the law and use i.p.o. money to bribe them. well finally max there's a big strike national strike tomorrow in the u.k. and i want to finally end on this headline because it goes with our first one where where we see gold is up nineteen point three percent for they say year u.k. incomes fall three point five percent in real terms oh and ass reveals this is the office of national statistics and they say that there's a big fall in salaries for average workers and sizable rises for senior managers according to the annual household earning survey u.k. households are facing pay cuts in real terms of more than three point five percent of salary increases fail to keep price with inflation so wages are only up one point four percent inflation is

global and prior to that he was chief counsel at goldman sachs for twenty years ok that you will be with us she's at the heart of this the relaxation of regulation one point two five ok so tiny rules change at the heart of m.f. global failure from december two thousand the c f t c that's when they first agreed to. amend regulation one point two five to permit basically riskier investments that could make more money for wall street or they didn't have to share any of those profits with their clients but they were taking their clients the customer funds the segregated funds and betting it overnight but they had to replace it in the morning so then in february two thousand and four in two thousand and five regulation one point two five was further amended to read fine to the liking of ferber and the banks in the end the door was open for firms such as m.f. global to do internal repos of customers deposits and invest the funds in the general obligation of sovereign nations ok well here's the here's the thinking that went on here you see because sovereign debt aaa rated or double a right of s