but private capital, you know, there is -- the old goldman sachs, goldman sachs and gus levy used to talk about, we believe in long-term greed rather than short-term greed. that can be true i think of the new -- bloomberg would probably characterize himself that way too. to the university point, i think that's an excellent point and actually one of the things we were talking about twitter, i was going to say one of the things i love about twitter is for me, it opens up academia. i don't read economics research papers, i don't read the journals as part of my normal life. but twitter for me points out interesting papers a lot. and i now probably read two or three papers a week because someone points them out. and this isn't what you would think of as classic journalism. but i do think that the internet has moved the academy much more into the business of what journalism used to do in a way that's fantastic. >> i think that's an interesting -- >> to which i would just add that in most of the country geographically, one would expect to find a public radio station system that i'm part of

say reform they mean change laws to favor the criminals a perfect example is facebook and goldman sachs goldman sachs broke the law by offering stock to more investors or clients than they were allowed to legally they got the f.c.c. to change the law and of course now the facebook offering was a huge debacle the insiders cashed in for billions but that's what reform means it means changing. the law to favor the crux we sought after the savings and loan crisis they changed the laws to favor the the crux and maybe you should have blown my dictionary seems i have trouble you know understanding the definition of words i mean he went to harvard so did mark zuckerberg i guess you could have or seems to be the pathway toward you know stealing from the peasants well let's look at some of the ninety nine percent of the non ruling elite and look how this propaganda has succeeded because they are using the very turds that the criminals at the top the wall street gangsters have have given to them to use so if you look at this video this is a group of people watching on timothy geithner's home in bethesda marylan

goldman sachs or organization that goldman sachs own where what they had in place tom was what they call a boiler plate a boiler room system they had there'd be these rooms where they call students or would be students marginally qualified and simply tell them come to our college is long as you can get some some financing come to our college as long as you can get a student loan and they didn't tell that student that probably once you get your degree we're not going to be able to get you a job and second of all you're not going to be able to transfer any of the credits you get from our college anywhere else in the country this is what romney wants to support right now thirty billion dollars is moving away from colleges where our actual real college is where people get real educations and and they can use that for jobs after they get the education thirty billion dollars is moving away from that for the wall street the new wall street education plan which is simply the move taxpayer money away from taxpayers to wall street yeah it's like vouchers on steroids what role have whistleblowers played in revealing these practices by these companies huge role dollars metafile university of phoenix was one of the organizations that were scamming students and they were taking their money and they'd allow a student to stay in college only is only as long as they could get those student loans after they found out that a lot of the times they would they would take that student to two or three years and then fail him out or move them through for some other reason they got the money from the student and business as usual what was so interesting about that about that case that particular case is we learned that what they're doing is setting up derivatives on wall street with these student loans tom just like they did to this sub prime mortgage scam they're setting up. riveted is where you have wall street trading in these student loans now the reason it's a little safer than subprime is because as student cannot declare bankruptcy they can't claim bankruptcy here and what ends up happening is the student who can't pay anything simply says i'm not going to pay it and in the end taxpayers end up paying that money the derivative loan is traded on wall street wall street's make a lot makes a lot of money in taxpayers lose there's a reason gold goldman sachs is in this business it's because it's turning into a cash cow or they go after the students parents or you know increasingly they're asking for cosigners it's incredible president obama has already tried to institute reforms to help this crisis in your mind pap what else needs to be done in the short and long term there's just needs to be some prosecutions. this is not something that is this is you have a college that knows a fraud that what they're selling is basically it's fraudulent they're selling this this student something with this student believing that they're going to this student going to prove his life by getting this degree truthfully it's not a credit ation anywhere it's not it's not even regarded as a serious college in most places but that student has this dream of going to college so they put a bunch of people in a in this boiler room and they're actually paying people bonuses according to how many students they bring in to that college and until you until someb

goldman sachs has conquered europe goldman sachs has conquered us by having our politicians sign on to the impossible to pay quadrillion plus derivatives and show they're getting us ready for a total engineered collapse where those that collapse the shi'a the to re-engineer it pose as the savior and so that's why they've taken hold could genesee plans of things they beta tested back in the seventies and eighties and have put it on a war footing and just ramped it up five hundred percent i mean it is just the it's not just this document it's billions a year now in the public bids for companies to supply the barbwire the private security the interrogators i mean it's all there you'd have to look at each document put them together and it is it is frightening a lot of it's not like it is interesting alex and you know it is also worth noting that they in the government has said that it's not a matter of if but when there will be a digital terrorist attack and that could explain the crackdowns on the internet and the fight that we're seeing are not front that was alex jones host of the alex jones show. so head on r t what does the government takedown of the popular hosting site mean for internet freedom and copyright law answers coming up right after the break. martini is the state run english speaking russian channel it's kind of like al-jazeera. russia today has an extremely confrontational stance when it comes to us. just put a picture of me when i was like nine years old don't you tell the truth. i confess and i am a total ghetto princess hi-lo grab the cock is that i'm pretty sure. it was kind of a yesterday. i'm very proud of the world with its place. right now i would like to. welcome the aloneness still they'll get the real headline with none of them are the problem with the mainstream media today is that they're completely disconnected from the viewers and what actually matters to those viewers and so that's why young people just don't watch t.v. anymore if they want news they go online and read it but we're trying to take those stories that people actually care about and transfer them back to t.v. . what drives the world the fear mongering used by politicians who makes decisions to break through it's already been made who can you trust no one who is your own view with the global machinery see where we had a state controlled capitalism is called sessions when nobody dares to ask we do our t. question more. welcome to the capital account i'm lori mr. pepper spray that just burns your eyes right right i mean it's like a derivative of actual pepper it's a food product essentially. it's much stronger than anything it's the bio labs. thousands of times were stronger than any one of the variables they were pushing in . the mega seizure of mega upload one of the government takedown of the popular hosting site mean for internet freedom and copyright law apparently the government doesn't need any law to stand in their way of going after people over copyright infringement just days after soap and people were voted down the u.s. government bypassed criminal courts to shut down and seize the assets of the website over what they see as copyright infringement so is this overstepping of federal authority and as a review of revolving door relationship between government and commercial interests we discuss this and more with goldman an associate law professor at santa clara university and director of high tech law institute here's his take. the government has brought a very broad and potentially unsupportable prosecution against a user generated content site we're all trying to figure out if it's the new wave the government trying to establish its control over the content community or if this is a one off we fear of the former what does a revolt reveal a revolving door relationship between industry and government and if so explain a little about that. the there are very tight linkages between the government and the content industry so for example many of the people who are in the government worked in the content industry and many of the people in the government will get jobs in the content industry after they're done a result they understand each other's issues very well they've been there firsthand in addition the content industry contributes a significant amount of money to the administration and to other polit

bank of the world technocrats the world will no longer have freedom they brag goldman sachs has conquered europe goldman sachs has conquered us by having our politicians sign on to the impossible to pay quadrillion plus derivatives and so they're getting us ready for a total engineered collapse where those that collapse the society to reengineer it pose as the savior and so that's why they've taken old contingency plans of things they beta tested back in the seventy's and eighty's and have put it on a war footing and just ramped it up five hundred percent i mean it is just the it's not just this document it's billions a year now in the public bid for companies to supply the barbed wire the private security the interrogators i mean it's all there you just have to look at each document put them together and it is it is frightening a lot of it is interesting alex and you know it is also worth noting that they and the government has said that it's not a matter of if but when there will be a digital terrorist attack and that could explain the crackdowns on the internet and the fight that we're seeing on that front

we all know this about goldman and it's a shame people have to see stuff on paper and then still defend it again goldman sachs another peter if you see audit client goldman sachshas been denying that they're the bad guys and we all know that this is how they're making money they basically get in and get out faster than everybody else and doing things like naked short selling and telling people that they have the securities that they need to have borrowed when they really don't. this is the kind of thing journalists certainly live for somebody makes a mistake like this an attorney makes a mistake like this and something they've been fighting so hard and spending so much legal cash to. prevented somebody makes a mistake and it's all out there as you would say naked for the world to see i think there's probably going to be more to this story now that it's out they're going to have to come back and see if they can spin anything to try to mitigate that damage right so in a two thousand and six e-mail goldman sachs executives trading in overstock a company that they targeted for annihilation using weapons of mass financial destruction they quote two months ago one h

goldman sachs, young guy. man, this is it. the analyst wouldn't budge, reminding me this was goldman sachs, not some firm that would put it's name on any company because it was hot. sure enough, goldmann a couple years the company failed. a victim of better technology and poor financial management. take it from me, that's why the brokerage pedigree matters. i would pass on deals done by firms that you've never heard of or that have little or no track record with successful underwritings. doesn't mean every ipo brought by a high quality brokerage won't fail, far from it. only after i've gone through the three-step vetting process, would i then consider what the company does or what it makes or how it's done in the past. in part because it is so difficult to judge these issues. i would -- and i would rather just use the quick filter i went through above before i even crack the books on the company. >>> let's get mad mail here. from vance. cramer, faithful watchers of the show and it's helped up tremendously in our investments. thank you very much. some time ago you did a segment on when to buy and when to sell and i think you laid down guidelines for percentage increase to take profits

goldman sachs's c.e.o. says this has cost the company. lloyd blankfein chairman and c.e.o. of goldman sachs and i support marriage equality. soon so it couldn't have been the barrage of bad press around in the greg smith op ed alleging you don't put clients ahead of a firm goldman is be our department is really outdone itself this time we will discuss it let's get to today's capital account. ok with the second and final round of french elections scheduled this weekend along with the ones for the politically unstable republic all eyes return to the eurozone will policymakers and technocrats survive yet another round of elections or will the people were jack the medicine of brussels and go their own way that's the key question right we've often made mention on this show of the resurgence of nationalist right wing politics in some of europe's most afflicted countries both within the core and in the periphery europe resembles at times what you could think of as a pressure cooker without a regulator to let some of this the most popular discontent skate through the normal of toral process when things get rough the steam as we've seen building for the past few years in countries like greece in spain in italy and so on and all of those protests you see on your screen t

goldman sachs. if you're short jpmorgan or short goldman sachs and you get this today, i think you're supposed to cover at least half that short. i still don't like the banks and i haven't done that yet. my finger's been on the button twice, but i haven't done it. look for a bounce jpmorgan up 40, goldman 106. back to you, ty. >> thank you very much, jim. lets bottom line this whole thing for just a second here. try and cut through all of the weeds and make it a little clearer. jpmorgan's chief investment officer, the part of the firm that specializes in managing risk, lost $2 billion. some kind of risk management. now, the public face of this has become a trader reportedly named bruno ixil, sometimes known as the whale or the london whale and sometimes called vold medical report for his dark moving powers. he put on a set of trades tied to the value of corporate bonds. "the wall street journal" reporting the company's findings his group had $300 billion plus worth of investments as of december 31st. the chief investment office at jpmorgan, its job was to protect the firm from a downturn in the economy. and early this year it started to drop protection becoming more bullish on the economy. but then the economy softened a little bit, the market moved against the whale. and the result, a

goldman sachs meeting with shareholders today. and shares of goldman sachs down more than 25% in the last year. the s&p meanwhile is pretty much flat during that same period of time, as you can see right now from that chart. our coverage of the shareholder spring rolls on with mary thompson at the meeting live in jersey city for us. hi, mary. >> hey, sue. there were no disruptions or surprises at the two-hour meeting where all the directors were re-elected and all of the shareholder proposals failed. now, outside a small group of protesters were kept just about a block away. inside the meeting, the tone was civil and measured. ceo lloyd blankfein answering questions on volcker, europe and pay. even joking with nun who asked if he wanted to hire her following her detailed question about the banks structured product business. blankfein saying he didn't think he could outbid her boss. on a more serious note, he said more worries about europe, the u.s. budget difficulties, political impasse in washington as well as concerns about china's growth all dampening enthusiasm and client activity. blankfein deferred to james sharl when asked what the firm did after learning rival jpmorgan's multi-billion trading losses. he told the crowd that goldman is constantly reviewing its risk controls. blankfein also commenting on pending regulation saying there are good elements and some am b am bigties. >> thank you very much, mary. goldman sachs is now tweeting. it may be another step on the long road to improving public relations. tweet number one was pretty simple, we are now live on twitter in parentheses, finally, at the g.s. annual meeting. follow us here for updates on our work, our research and our people. >>> breaking news from rick santelli in chicago. another bond auction. seven years this time around. let's see how they did. hi, rick. >> yes. the tombstone $99 billion in supply, $29 billion 7-years. bid-to-cover 2.83. this auction 2.80. ten auction indirects 40% this auction, 42.7. directs 14%, ten auction average this auction 15.7. what's note worthy is dealers only took 41% of this auction. that's a good thing especially when you look at the much higher percentage on instruments like two-year notes. the yield 1.203% pretty m

goldman sachs with senator corzine. it's an awful cozy group of people goldman sachs and this money.uess to the extent we want to have the appearance of having no conflict, we could remove any chance of people being suspicious of an investigation. >> you are hitting the nail on the head. you look at the relationship between jon corzine and the chairman genzler and that is enough reason to make people suspicious. where is the downside for the attorney general, in light of the fact he handled fast and furious so terribly, in light of the solyndra, gsa scandal, he should be more than happy to turn this over to independent counsel and give people the semblance there isn't any i am pro private might here. >> there isn't any impropriety here. >> greta: i agree. i do agree with everything being connected it really did does -- i can understand why people would be suspicious of having the justice department doing it. we'll see what happens. >> i have looked at the southern district. they are topnotch and best of the best. i'm worried about much higher than that. we're talking about the admini

the people that they represent like the goldman sachs of the world that commit financial terrorism and they don't pay taxes to goldman sachs last year mack less than one percent what did general electric the big goose egg out of the guy the tax abatement they got a credit they had no taxes for them you know the fortune five hundred america very few of them pay any tax at all so urea christine legarde a front man for financial terrorism browbeating the greeks for not paying taxes. which happened right here the biggest bailout of them all eighty seven billion dollars that the american taxpayer transferred they're not going to pay taxes for several decades due to their loss that they get to write off the taxpayer themselves don't get to write off any losses but here's an incredible thing about the scandal it is that you would have thought after a i.g. was caught selling securities that they counterfeit it that they would maybe outlaw that practice selling was a called part of the false swaps naked no collateral oh wait j.p. morgan just got caught doing the exact same thing jamie duggan just got caught doing the exact same thi

goldman sachs, i was the governor of new jersey, i'm past 60, over and out, i'm going to go have fun." but he looks at his résumé and says, "i was kicked out of goldman sachs. i was kicked out of being the governor. i still have something to prove." >> and he wanted to come back to wall street and prove that his partners had been wrong about getting rid of him at goldman and he was going to show them. >> i'm really excited about the opportunity to lead mf global. >> i thought it was great. the stock price jumped. and corzine was a dynamic character. >> we're going to work very hard to get the earnings back on track. >> from the military to goldman sachs to governor. i mean, i get it, you know. he's going to have political connections. this is going to be great for the company, you know. so i was sipping the kool-aid at that time. >> narrator: mf global was a well-established commodities brokerage, a spin-off from the old british powerhouse, man financial. >> it was basically a commodities and futures trading and investing firm. clients would come there saying they want to make trades in the commodities industry or the futures industry-- buy pork bellies, buy oil futures, buy gold futures, silver, you know, palladium, whatever it is. >> mf global was basically the middle man in these transactions. you put in a trade through them. they put it in through

goldman sachs, a larger percentage of shareholders supported the bank's pay plan for c.e.o. lloyd blankfein, and other executives. >> goldman sachs is not the only big bank holding it's meeting outside of new york city this year. j.p. morgan's was in tampa, citigroup's in dallas and morgan stanley's in purchase, new york. goldman says this year's location was not an attempt to dodge protestors, simply a sign it's as committed to new jersey as it is to new york. erika miller, "n.b.r.," jersey city, new jersey. >> tom: even before today's meeting, goldman sachs persuaded shareholders to drop two controversial proposals. we'll have those with maquarie banking analyst ed ditmire in just a moment. >> reporter: i'm diane eastabrook in belvidere, illinois. still ahead, the future of chryser is rolling off an assembly line and heading to dealerships. "nightly business report" is brought to you by: captioning sponsored by wpbt >> tom: we saw fresh evidence today showing hiring and manufacturing are picking up ever so slowly. people filing for unemployment insunce for the first time fell by 2,000 last week to 370,000. but with the weekly average firmly below the 400,000 level, the job market continues recovering. orders for big-ticket items like computers and washing machines rose slightly in april, up two- tenths of 1%

goldman sachs. according to a congressional investigation, the bank created a series of cdos containing toxic subprime and then sold them to customers... >> we at goldman sachs distinguish ourselves by our ability to get things done on behalf of our clients. >> narrator: ...while goldmansachs, using credit default swaps, bet against them. >> they bet against their own clients so when their clients lost money, goldman was making money. goldman has a little slogan that the clients come first. no, they didn't. not in these transactions. goldman came first, second, and third. they were really, i think, the only major bank which made money when the housing bubble burst. >> narrator: in a settlement with the sec, goldman admitted that some of their marketing materials did not disclose important information, but goldman claimed that their investors were highly sophisticated institutions. one customer was that german landesbank ikb. >> ...anyone associated with the subprime market is going to pay the price. >> en when there was downturn in the markets, they were still buying. i mean, the market is telling them. it's on the screen. there are headlines everywhere: "danger." but they still wanted to go ahead. >> smith: did you feel there was an obligation on your part to tell th

goldman sachs ceo who has come out and said, has been supportive of gay marriage and basically makes the case that if you're at goldman sachs, the only reason you are allowed to vote for president obama in this 2012 race is because of his position on gay rights. >> to be fair he said any one at goldmanachs can vote for whoever they want. but culturally, with the bloomberg story says is that the culture of goldman says my god, on every regulatory issue it's romney. but on this gay thing, we work with gay people all the time. we cannot believe there is a tinge of doubt. why would i donate to folks that are going to discriminate. that's raging in lots of places that donate lots of money to campaigns. what we were talking about during the break it's not just to the voters but the fund-raisers romney had an opportunity to say have no reservation, i get it. i can be your guy. >> romney is doing okay with the fundraisers. >> pretty well. but there is a conflict there. i think as you see these social issues more often than not people who have lots of money have reservations so what he needs is not just money but real enthusiastic long money. i don't know if that's there yet. >> we were talking earlier really is a generational shift. when you look at older americans they are against gay righ