a no good c'mon drink and ben bernanke is looking at him like oh isn't it bball my little baby jamie dimon here is a guy who is able to go to ben bernanke change the rules and regulations to put himself in front of tens of thousands of m.f. global clients in congressional testimony on december fifteenth two thousand and eleven it was discovered j.p. morgan asked the federal reserve to write a letter claiming that the segregated funds should not be categorized as client money this is what james could too less is responding to and he says in response to this j.p. morgan wanted a get out of jail free card from the fed guess what that doesn't fly with me their hubris is so severe they think we don't know the industry like we are occupy wall street radicals or something and don't have a clue. well i mean it's amusing to watch these bankers lined up you know in front of congress every once in a while giving testimony you know risk is the new tobacco basically you know risk will kill people as surely as smoking cigarettes will and these major risk pedlers who the externality of their corrupt busi

none of us had any access to people like lloyd blankfein or jamie dimon. we didn't get to talk to them. even presidential candidates, most of us got to sit down and talk to these people but we don't have access to captains of finance. at least political reporters don't. and so we didn't really know how it worked so all of us were hesitant to make judgments about it. than the fact that the financial press was treating what happened as a grotesque accident and a thousand year flood, this is economics, these things happen. wasn't crime. it wasn't fraud. just a bunch of people who made bad judgments about the market. smart people on television and a whole army of people on cnbc asking like this isn't crazy and it isn't crime so you hesitate because you don't have that personal experience. so what was really needed was for somebody from that world to come forward and explain to us, yes this is as crazy as it seems. moreover let me tell you a little bit about what these people are like so you can understand the motivation and the background. that is what nomi's

. >> jamie dimon and it's the hedge funds, the guys behind the scenes that work quietly and those guysre giving a lot of money to obama and they've been lining his pockets for years. >> i think that charlie just made-- i think that charlie just made an astute observation. >> and goldman is going for romney, that's very good news for obama, given goldman's esteem right now in the country. >> all right, my thanks, very much to charlie and dagen, have a great weekend, guys. >> okay. >> meanwhile, who needs a fundraiser he when you can improve your funds with these stocks. our gang with the names that no one should protest-- . ywhere. real, objective investing help? that's a little harder to find. but here's what i know -- td ameritrade doesn't manage mutual funds... or underwrite stocks and bonds. or even publish their own research. so, guidance from td ameritrade isn't about their priorities. it's about mine. straightforward guidance. that's what makes td ameritrade different. ♪ [ male announcer ] trade commission-free for 60 days. plus get up to $600 when you open an account. stockings

moment hair raising let's turn to a little clip of that what i can tell about their jail unless that jamie dimon the cops now max this was before the m.f. global fraud and j.p. morgan's role in in seizing we think the client funds so all of it was a hey you know so much the wall street how can we not on wall street making millions because i see what's coming. it's not good i don't want to end up like jamie diamond ok this is jamie diamond after the mob gets through with. but speaking of jamie di win here is an image that was a hit this year and from the kaiser report and this is jamie diamond on the verge of this kind of fits in with the theme of christmas eve show that's the way could which life masters who invented or created or spawned from are corrupt lawyers and the credit default swap machinations that allow for the u.k. to become the debt capital of the g twenty it's all goes back to blight and her wicked witch ways well it also goes back to the city of london and that's been a big theme this year as well because without the city of london allowing infinite paf the cation m.f. global woul

so you have jamie dimon lecturing a central bank governor on the need to reduce actually from the system as jamie diamon as an egregious self-serving banking fraud peddler as it seems to have came to what they were saying is look at a screen will we work slow as well as continue adding even more ponzi behavior than we had last week of course that there's a sort of scheme works until it collapses and collapses spectacularly on the trouble is characters like jimmy dominick go to school and with the money in the meantime and so couldn't possibly sit and it's coming i mean it is so blatantly obvious that this is going to end in twos and these cars fly into lying it is simply making going from material going from a trickle of jews to a flood so you is a total that this total ponzi ponzi. behavior and some gun glad to see condi and the canadians standing up to that sort of intimidation from the banking sector are now speaking of jamie diamond he's featured in a bloomberg article quote bankers seek to debug imbecile attack on the top one percent pay stealing your phrase debunking if there's any

percent in some cases he thinks that he's somehow above them that he's not going to be a victim of jamie dimon so here he is divide and conquer that he's not on their side because he actually has called. going for the hash tag boycott j p m that's the stock symbol for j.p. morgan hash tag boycott j.p. m. and this is the campaign he's launched but he separate he's different from occupy wall street when in fact they're the same they're the victims of the same exact criminals and the same exact criminal enterprise run by those same exact criminals if you want to make a ton of money in two thousand and twelve in your professional hedge fund manager you know collude with your other hedge fund managers and sell short j.p. morgan stock because their balance sheet means a stock price equity is worth zero i mean it's as simple as that soon that you're in the like john paulson he's lost fifty percent of his clients' money this past year because he's an idiot he made of billions of dollars last year by you know leveraging the sub prime nightmare to his benefit this year he lost fifty percent of his money

billion in my stock come on down and simple where's the whole almost tripped up a prostitute up jamie dimon the c.e.o. of j.p. morgan and also the new york federal reserve bank fly oh oh. almost superfluid. and the article goes on to say once run by former new jersey governor john course m.f. global filed for bankruptcy on october thirty first after a bet on european sovereign debt worried markets causing a liquidity shortfall so here is the liquidity shortfall excuse that caused this crime to happen markets failed so they failed because the people engaging in them are crooks and the there needs to be a real architecting of the market so you don't simply saying that they funnel of blood pouring into the streets from the mass slaughter happening on the hill is beginning to recede and so we need to continue the mass slaughter up on the hill to keep the blood flowing in the streets that's the logic of a hank paulson junk or resigned has not been arrested for the crime of taking this segregated funds from his clients account and paying off his liquidity shortfall now look at how what happens wh

banks risk socialized i think there's a difference between those people and the people that are the jamie dimon that aren't these wall street firms that are deeply connected with wall street deeply entrenched in the regulatory process and they do benefit from and i think that is something that's really important to separate because they i think they are different factions i have learned thanks so much for joining us tonight and that's something that you know we spoke about this before too when it comes to occupy wall street and their message maybe they need to try to separate but the ninety nine percent versus one percent just seems so much easier and more in terms of point zero zero one but it also can you know what i don't think you know they're really after people like that are like the ships of the world thanks so much. i sort of come to my fireside friday and that happy hour revamp the popular shoe has malls going absolutely crazy. here in bygone days sleds were vital to get around. but today they're more leisure than life line. one drives people to quit their modern lives and settle in re

jamie dimon made a few comments about the demonization and he said it does nobody really any good.l system. it has problems but don't throw the baby out with the bath water. damemy dimon makes a lot of sense. >> neil: does a lot of this goes away from the bad times go away? or not as many bad times are here? if you are angry and upset and feel victimized there are people to blame, right? >> evil bankers have been blamed throughout history. they did a lot wrong. we should point out that building case against bankers, just because jon corzine made a bad bet doesn't mean he is guilty of fraud. remember that. it will be interesting. even if he takes the fifth, it does not mean he is guilty. plenty of innocent people take the fifth. you do it to protect yourself. i'll be on cavuto at 6:00. >> neil: looking forward to it. >> update the story. >> neil: he is the best. we got him on fox. that will do it for now. one hour from now on fox business, charlie will make calls and get to the bottom of the corzine mess. do not forget we're in iowa tuesday leading up to the big fox debate. we have

can't call the federal reserve, you can't call the treasury, you can't call the ecb, you can't call jamie dimon's no one you can call who will tell you what the exposures are. that has to be an act of insanity. is there another financial market out there that's invisible like this? >> i think there might be a gold market somewhere in bahrain that acts on that lack of transparency. but we really solved this in 2008, when all of a sudden, aig, we just thought aig was a sponsor of the manchester united soccer team and this big insurance company. boom, it turned out they were -- had sold, you know, hundreds of billions of dollars of insurance, credit default swaps on subprime mortgages. and when it came time to collect, they hadn't put aside any reserves, and investors in aig were not clear what the exposure was. so that is a big problem. and i think, you know, one of the most absurd components of this is the idea of credit default swaps on sovereign governments, including the united states. people are trading credit default swaps on whether, you know, the united states will make good on its bonds.

jamie dimon at jpmorgan can't tell you. jeff immelt can't tell you. i don't know that that's an explanation for why jon corzine doesn't know where his client money is, but all of this is incredibly instructive as to how what we thought were the most transparent and robust capital markets in the world are suddenly laden with all of these secrets that can end up losing $1 billion from a guy -- if he can't keep track of $1 billion, susan, who can? >> i don't know, but i think what we're going to see is someone with his credentials really put through the ringer. and actually, we may get some transparency as a result of it, because i think he's going to be used as the example. he is going to get it worse than anybody, and perhaps, maybe we'll be fortunate to figure out where that $1 billion went and how it got there. >> mike williams? >> well, it strikes me that just thil as highlights, the lack of trust that the american people have in leadership, whether it's economic leadership or government leadership, and the fact that there's no transparency in the s