asked as a welcome back to the kaiser report time now to go to niceville florida and speak with karl denninger of market hyphen ticker dot org karl welcome back to the kaiser report oh you are max very good now karl denninger the f.c.c. this week defended its no wrongdoing settlements claiming that they were a deterrent to banking crimes your thoughts ok. you don't really believe that it's just a tax i mean i suppose if you track something you get less of it but deterrent please all that happens is it gets passed on to the cost of borers and other people doing business with these banks there's no deterrent effect yeah i don't understand this because these big banks keep doing the same fraud over and over again they pay as you as you point out it's a tax basically it's fully factored into this be. this model is not a turns at all how can america para get away with a straight face and saying that this is a deterrent and lassie is part of the problem which i suspect that's the case karl . well of course she's part of the problem look to the entire reason the scam goes on just take a look at the p

of the day the political system rewards complacency so to talk solutions let's bring back and karl denninger a blogger and radio host of the market ticker and author of the book leverage how cheap money will destroy the world and karl i'm really curious what incentives at all do politicians have to not lie about things like you know deficit spending in order to get elected and what incentive do they have to do anything about us this problems. absolutely none then what you've seen from barack obama appears to be an acceleration of what george bush did but in fact he's just following the geometric series that we've done over the last thirty years so we didn't change anything and that's the problem with the end of the day is that this is the nature of geometric functions everybody learns about them in about the eighth grade the united states and yet we all forget about them as soon as we go to public office because you can't buy votes if you don't promise to spend what he's told have do what he likes higher taxes and at the end of the day the government in our country has never managed to colle

solutions when we get back we're going to go to break real quickly but we will be back with more with karl denninger. and still ahead drivers start your engines because bidding is now open for obama is old chrysler on e.-bay the price may not be getting a break so we'll give you our three cents on the up and first or closing market numbers. wealthy british style most of the time to buy stocks because. of the. markets why not. find out what's really happening to the global economy in cars a report on. the substance. in a time like the world trade army. religion ruins. the land where time stands still. all becomes a scene of nothingness. the mysterious sons of russia. welcome back so it is the republican presidential primary in florida so let's talk now about attempts of elected officials to rein in the debt and the spending let's look at how it's gone ok here's then us senator barack obama back in two thousand and eight president george w. bush adding four trillion dollars to the debt we know now over moen trillion dollars over. there but we are going to pay burke. dollars for every man woman and chi