morgan stock price it's hello enron style collapse jamie diamond on the street doing nothing yeah that's the way it is in the way the world of global finance where america's animal spirits and lust for they kill kill hate hate of a song as god the testosterone level so high that the sperm banks are overflowing over there oh yeah i get those dixie cups thirty ok stays there but yeah for me well max actually mention osama bin laden he should've listened to charlie monger because of course you're halfway had their shareholders meeting last week and no longer buy gold if you think your country is going to kill you good idea charlie munger well this is a tacit approval recognition of the fact that the relationship between gold and total countrywide malfeasance monger is putting the price on the fact that as the u.s. commits suicide price of gold to go. well also you have to define kill i mean there are you could kill somebody physically and dump their body in the ocean or you could still kill them financially and economically and kill their future and that is what one could argue the fed and

graduate to these higher crimes and you become adamic strauss kahn or a lloyd blankfein or or jamie diamond where serial financial murder is part of your day to day life that's the culture you live in and well speaking of color coded max let's move on to the next headline because this does have color coded threat warnings in this story financial repression coming to america el erian so this is mohamed el erian one of the heads of pimco the largest bond fund in the world and he was commenting on the global debt problems and signal and noted that there are some countries already signaling red like greece ireland and portugal he said then quote others are flashing orange like the u.s. and already require future sacrifices most likely through a combination of higher inflation austerity and importantly financial repression l. arion classifies financial repression is seeking to impose negative real rates of returns on savers write well it's a good story to follow up on financial repression or wealth confiscation again the ghetto model from the thirty's and forty's people have their wealth confisc

extremist kind of part of the banking culture where there's no much trust gone lloyd blankfein jamie diamond this guy panned over it's citibank the c.e.o. just paid him some forty two million dollars for stealing four hundred twenty million dollars they have a culture of predatory behavior where once you like a serial killer you know once you steal money from people with mortgage fraud or with banking fees that are illegitimate or with collateralized debt obligations get a taste for the serial financial killing you just go you graduate to these higher crimes and you become a dumb extra lloyd blankfein or very jamie diamond where serial financial murder is part of your day to day life that's the culture you live and well speaking of color coded back let's move on to the next headline because this does have color coded debt warnings in this story financial repression coming to america el erian so this is mohamed el erian one of the heads of pimco the largest bond fund in the world and he was commenting on the global debt problems and signal and noted that there are some countries already signa

worked their way up the food chain toward the big copper to cop out like a lloyd blankfein or jamie diamond correct yes that proces tool keep the reservation or always be say going to jerusalem that would be the justice of his comrades but we're for them the love affair lemons their love for the local proof. that they have everything to proceed to make the names to stop calling people who'll cold and for them it would be easy to fry a plot out to the end where this movie's to circle well for it's a vicious circle of kratos ok so you mentioned proof what form does the proof take ok the forms of the proof very easy to understand for somebody who. has it or at least meant that enormous or whatever that might be it's unclear whether there's a criminal law here in greece for example. when you turn in international markets. but i'm dealer of the government once or the greek state in the same time you cannot say oh c.d.s. against the government balance if you do one game you cannot do also there poser. so we should say against the interest of your customers and your castle but in this moment is gr

financial crash that we're in right now certainly they're doing better than ever and stuck you know jamie diamond for example new york forty million dollars in bonuses in compensation last year c.e.o. pay goes to the chart that we just saw being an astronomical increase in their pay wages have stagnated for the last thirty years that everybody else but we just saw our most recent statistics that came out show that actually corporate profits contract a little bit in the first quarter of declining point nine percent compared to the growth the prior quarter three point three percent and we've had several quarters where the you know the story that we've been telling is that corporate profits have been a record and meanwhile unemployment is still horrible but now we're seeing corporations gain hit a little bit is this show that maybe everybody is getting a little bit worse because there's all this negative economic statistics about unemployment claims going up unexpectedly and things like that as i say well there's a lot of reasons with unemployment claims. not going up but they did go up. for the une

customers unless they stop the durbin amendment of i ask unanimous consent that the letter i sent to jamie diamond be entered into the record. the presiding officer: without objection. mr. durbin: thank you. i haven't had a replay yet from mr. dimon. but i would whriek to hear his response. i encourage him to share my letter with the same shareholders and customers to whom he's written. after all, in his shareholder letter, mr. dimon said he wanted -- quote -- "analysis in the full light of day" -- of the durbin amendment so i figured he'd want his audience to be informed. i don't think chase has done that yes. i hope they will. i know that the banking industry prefers for the giant wall street banks to stay in the background ch it comes in this fight because they're not that popular. estimates indicate that about half of all debit swipe fees go to just ten big banks. bank america, chase, and we will fargo maid make the most of all, well over $1 billion each. but the banking industry knows that the public isn't happy with big banks. industry argues that even my amendment exempts all but the larges