out on available it's called plunder the crime of our a little bit with a book that came out before lehman brothers went bankrupt speaking on wall street i called for a jail not a bail out. the street is a fine center i don't think of that as a. no it's time to make the case for why the financial crisis is a crime story and i'm not the only one who sees this way. and only prinz was a managing partner of bear stearns and goldman sachs this is the most expensive take out the biggest. try. it this time we were talking about a crime we can't even quantify you're talking double digit trillions of dollars yeah trillions and trillions you know we at the very beginning were pointing fingers at easy money and the central banks as papering they crime wave and that was the next clip by me brains of when i become a regular on kaiser report written many books on the subject and danny schechter this whole approach talking about really plunder the crime of our time and best also better recurring theme for 10 years only got worse and we're seeing now 10 years later kind of the end game as we negative inte

amy: we're joined by kate aronoff, mustafa ali, and mattias lehman.o there you have bernie sanders talking about whether increased taxes. bebefore that, we played the clp of sanders talking about instead inspending $1.5 trillion weapons of mass destruction, we work against our common enemy, which is climate change. your response, kate aronoff? >> i think what sanders is really pointing out is we spent a lot of money andnd wrong plac. you spend momoney on. you'll subsidies in the military. a question that has been brought up, how will you pay for? they don't take into account the fact that we're spending money in these places we don't need to be spending money on, actively harmful, and the fact that what happens if we don't take on this at the scale it to man's? -- demand? there are many, many trillions of dollars to be lost if we let this crisis go unabated. what he is rightly pointing out is that as well as the fact there is not a shortage of funds available to fund this transition. we have the sort of wrong priorities the u.s. government is spending

be there and it just naturally devalues the stock and that's what happened with bear stearns and lehman brothers and you can tell this because when there's lots of naked short selling going on there are lots of shares that are sold and then never delivered and the amount of undelivered shares skyrocketed and skyrocketed with both bear and lehman brothers in the 1st weeks of those crises for a matter of course coining the phrase vampire squid to describe goldman sachs the tentacle like it's all over the world seemed like every financial catastrophe in the world had a goldman sachs banker former goldman sachs banker was involved in some way and they can start selling is a topic that i knew from wall street because of course i spent many years on wall street from 1990 from 1900 to the 1990 i was a stock broker paine webber oppenheimer shares a layman hotton alex brown and did they know billions of dollars worth of you know trades and naked short selling is common practice common knowledge on wall street people outside of wall street didn't realize you could counterfeit sell orders to drive

steve: lehman was, at that point, fascinating place in the investment banking world.ason: but a difficult place. steve: i would say, my first a -- day of work, somebody walked out of the elevator and walking to me and said you're very lucky to work here because nobody here will ever stab you in the back. actually, just walk right up to you and stab you in the front. carol: there's a line in your book, you write how your exit from lehman had show you wall street at its worst. steve: lehman got into financial trouble and, you know, my own view and everybody at the firm would have a different view, is that grown-ups wouldn't protect -- did not protect the institution. they were too worried that the ceo would got the firm in trouble would fire them if he took them on. as a result, the firm was sort of frozen. we had mark market loss in terms of network. -- net worth. we were forced to sell the business because it was discovered that the net worth at sort of gotten close to disappearing. your ratings would go in the -- and then the firm would collapse. so, you know, i look

names that's right you want to germany we've mentioned many many times that's my favorite the new lehman brothers said would be your bank and so now we're getting some market action then became one of these big banks about to go under that i 1st heard of you when you began writing about the time value of money and how the lightning network in particular makes this relevant to big claim so explain time value and why bitcoin matters in this regard sure so the lightning network does something novel for it allows you to earn income without taking explicit counterparty risk because when you stake big coin to a lightning node and open payment channels those are all still real big transactions and you're not actually giving over any control that big quite so this idea that we can earn income we can earn an interest rate without counterparty risk is pretty special my idea was that we can use these rates from across the network to establish a time value of big client and perhaps a reference rate for big capital markets where we can have lending activity that's actually referencing this lightning

northern rock star then lehman brothers and everybody knew it always works that way and it may have already started so where we're watching right now way think this next callous kind of thing we're already. bankrupt using indian banks many indian banks are in trouble turkey's got serious problems origin you know so it's all these are places that nobody cares about because they're small and they don't watch indonesia's got problems so it's probably working itself start looking at the bigger countries and it will probably surprise us i know it will surprise us all it's all a place who ever thought better stories would go bankrupt bear stearns been around $100.00 almost 100 years and suddenly disappeared lehman brothers been around over a 150 years and suddenly it disappeared so it's going to happen that way i'm not sure who will be next it could very well be a bank in china for instance. china has said they will let people go bankrupt i hope they do it will shock everybody including me and i just hope it might happen you know it's going to be it's always places that surprise us that we haven'

it would go bankrupt around 10100 years and suddenly disappear lehman brothers been around over a 150 years and suddenly it disappeared so it's going to happen that way i'm not sure who will be next it could very well be a bank in china for instance. china has said they will let people go bankrupt i hope they do but don't shock everybody including me and i just might happen you know it's going to be it's always places that surprise us that we haven't thought about and we didn't think it could occur i want to singapore we always hear about how singapore is like this financial safe haven it has given so many tax incentives and everything home to over 200000 millionaires here but singapore this past quarter contract about 3.3 percent and is now barely up over 4 percent for the year to date so far in its market so how has singapore weather the entire storm with the trade war between us and china. singapore as a presidential center. financial center is good and secure attracts money in bad times friends as i own a lot of u.s. dollars u.s. dollars is not a currency i own it because people f

will but stock will make lehman all the. inspector baggio hoxsey mustafa and his unit are preparing for many more raids along this dangerous and politically charged border.

for you know and the joint should come up in the morning lehman. review listens to music of your highness. the brahms coach. starts oct 11th on t.w. enough. 6 games into the season and slowly but surely things are starting to take shape the top of the ball some of the bad and the good we have it all this is what's coming up on the show for you today. no home team has managed to win a game so far this weekend could this although i'm cologne bucked the trend and pushed their way up the table. and the bundesliga has become the home of young promising players in recent seasons seasons of james bond show comets you know them who will be the next. welcome to the bundesliga here on dwi mechanic line joining me in the studio for a breakdown of the 2 members of a very good team making its debut this season jonathan crane welcome back to the show good to have you the season's 1st show but as always i'm raring to go. and backed by on popular demand and the cambridge last must appear it's a shame to hear that people don't want me back how they do and i'm just

a lot of business together, and what we were trying to do was, you know, start the best parts of lehman i've always liked doing big things with few people. and, you know, that's a very profitable kind of model. i had no idea that, you know, the firm would grow to this scale. i always wanted it to be really successful, but, you know, part of life is you go where the river's taking you, you know? it's hard to swim upstream x this is a powerful river. and we had a excellent strategy to start an advisory -- this was 1985 strategy, we never changed it, ironically. maria: interesting. >> start advisory, we did that until a few years ago. we pun that off, it's now called pjt. then the second piece was go into the buyout business which we started raising money for in 1986. and the third part of the strategy was to go into new business areas where they were very depressed in terms of values where we thought there was a huge upside, where even i couldn't mess it up as a manager if we could attract somebody to run that as a ten out of ten in terms of talent. and that business itself would generate

or governments of the so-called lehman group. reject what is obvious and that is the legitimate government of president. once. you know an improvement over situation it doesn't reject said dialogue with the opposition most recently we saw very serious efforts to engage an opposition which is interested in dialogue through conclusion or in their arrangement with them. beyond this president maduro as much as i understand it does not reject continuation of a dialogue with. the lead opposition within the region mediation russia supports all these what we do not support is an endless melody about all options still on the table which is a sugar coating of threat to use force. use of force or threat of force are. inadmissible according to international law so those who continues the produce this type of threats even in a covered version of those they are in material breach with the very central fundamental prince of one of the principles of international law. we heard that people will be new york and they may tend to create troubles the

stock will make lehman all the. inspector bad deal hoxsey mustafa and his unit.are preparing for many more raids along this dangerous and politically charged border. women power switzerland's lower house of parliament could see sweeping changes as a record number of women are running for election they have come a long way with women were 1st granted suffrage and 1971 they would have to wait another 20 years to vote in all cantons or federal states well thousands recently took to the streets to demand gender equality and farmer lucky bollman feels the odds are stacked against her and she's speaking up for change despite some resistance. former lawdy bowman lives in the canton of argo it looks ideal but she says looks can be deceiving. on many farms here wives are completely dependent on their husbands they work hard you have no money of their own or social security if you've probably heard about their eye problems if couples divorce. first women lose their home usually the farm was taken over from the husband's parents and the woman married into the family so she

was a book that came out before lehman brothers went bankrupt speaking on wall street i called for a jail not a bail out.

with a book that came out before lehman brothers went bankrupt speaking on wall street i called for a jail not a bail out. the street is a fine center i don't think that it is. now it's time to make the case for why the financial crisis is a crime story and i'm not the only one who sees it this way. nomi prins was a managing partner of bear stearns and goldman sachs this is the most expensive take out the biggest. in world history we're talking * about a crime we can't even quantify you're talking double digit trillions of dollars. trillions and trillions you know we at the very beginning were pointing fingers at easy money and the central banks as paper.

available it's called plunder the crime of our job a little bit with a book that came out before lehman brothers went bankrupt speaking on wall street i called for a jail not a bail out. the street is a fine center i don't think it is. now it's time to make the case for why the financial crisis is a crime story and i'm not the only one who sees this way.

the music stops remember the 2008 financial crisis the head of i think it was dick who was running lehman brothers at the time i was the head. citibank made the comment that you know as long as the music's playing we will continue doing this dance and then the music suddenly stop there is a liquidity crisis you had the financial crisis and they instead of allowing them to do its work of weeding out the we can see the weak players in the frauds they injected $151617.00 trillion dollars worth of voodoo money to keep the game going and now here we are in 2019 with negative interest rates and multi $100000000000.00 trillion dollar venture capital unicorns are all going bust and the colossal failure is being felt in every corner of the global economy and the us was smart countries are buying gold so i believe that was chuck prince who said that at the time back in 2008 and of course music is going and that's why people keep on lending money to these corporations like casper matches like live like jordache like and they keep on losing money and losing money and fracking as well so here's the he

broke the buck and that almost collapsed the global financial system it wasn't just bear stearns and lehman brothers of those sort of banks class and was the money market funds and that's what you really have to look for and this seems to be what the fed has been rescuing in the past week more than like a bank and you know wells fargo bank branch at the corner having a bank run it's like the actual trillions and trillions of dollars that could bring down the system again we don't know yet what's going on we'll find out soon i'm sure though so again another story that you should go to duck duck go or start page dot net and look for. 2010 in 2011 episodes a kaiser report because you can't find them going directly to youtube or google dot com but we covered this back then extensively so look for kaiser report see if you morgan racketeering rico silver manipulation. morgan by silver here's the headline from fox business and we're using fox business because bloomberg and f.t. now have like pay walls that are impenetrable so we must turn to fox business to get these stories j.p. morgan traders in

out in available it's called plunder the crime of art a little bit with a book that came out before lehman brothers went bankrupt speaking on wall street i called for a jail not a bail out. the street is a fine and she's center i don't think of that as a. no it's time to make the case for why the financial crisis is a crime story and i'm not the only one who sees this way. nomi prins was a managing partner of bear stearns and goldman sachs this is the most expensive take out the biggest. try it in world history we're talking * about a crime we can't even quantify you're talking double digit trillions of dollars and a lot trillions and trillions you know we at the very beginning were pointing fingers at easy money and the central banks as papering the crime wave and that was an excellent clip by moment prince who went on to become a regular on cars report written many books on the subject and danny schechter this whole approach talking about really plunder the crime of our time and that's also been recurring theme for 10 years it only got worse and we're seeing now 10 years later kind of th