of d c recused himself from the case of m.f. global and then in an office of inspector general report came out recently that no you didn't have to do that so maybe gensler is just trying to cover his rear right here i don't know about that i mean we heard that. of course i'm possibly going to come under perjury charges so i went to you know it's possible i think that's possible and that's probably where the criminal charges are. i think so i mean that's look at home martha stewart went to jail if the department of justice wanted to get martha stewart and they got her on a truck to obstruction of justice charges and nothing to do with securities fraud they could do the same thing with corazon tomorrow if they wanted to but that's possible but i mean it has been two years come on and this attorney general does not listen to anything republicans have in mind when somehow we're going to go to him and contend you know he's not going to let them sit with you whatever michael graham says i mean i just really don't think that's realisti

regulator charged with overseeing m.f. global plans to file an unprecedented civil suit against john corps and lawyers for the former chief executive of the collapse brokerage said on tuesday so remember in october two thousand and eleven m.f. global collapse and so did one point six billion dollars and customer accounts only be unprecedented of anyone actually got caught doing something that they ended up paying a penalty of some kind of size or went to jail who's one of the staff to see mr gary gone sort of that goldman sachs truck yeah care is actually goldman sachs is the fall of the c.f. he's is involved in greece is involved in italy is involved in all of them j.p. morgan is mark involved when i meet and they these conferences and they meet to collude and fix prices and steal money and then that governments will impose austerity measures to help pay for the money that's been stolen. well according to the article here successful litigation by the c f.t.c. against an executive at a failed financial firm would be a rare

of d c recused himself from the case of m.f. global and then in an office of inspector general report came out recently that you know you didn't have to do that so maybe gensler is just trying to cover his rear right here i don't know about that i mean we heard that. of course i'm possibly going to come under perjury charges so i went to you know it's possible i think that's possible and that's probably where the criminal charges are going to come from i think so i mean that's how you look at home martha stewart went to jail if the department of justice wanted to get martha stewart and they got her on obstructing obstruction of justice charges and nothing to do with securities fraud they could do the same thing with corazon tomorrow if they wanted to but think that's possible but i mean it has been two years come on and this attorney general does not listen to anything republicans have in mind when somehow we're going to go to him and contend you know he's not going to listen to whatever michael graham says i mean i just really

that's what's going on with m.f. global we learned yesterday that the c f t c is suing john corazon on civil charges but today representative michael graham asked the attorney general to bring criminal charges against core of the nine what do you think is going to happen i tell you what a year ago i would say almost no possibility i'm a little bit hopeful no i don't even think we'd see civil charges from the sea up to see you know i think eventually i mean this is a pretty big deal i even think the government is going to do anything you know i don't think the d.o.j. was going to do anything they put in louis freeh ok and this guy was head of the f.b.i. before he scared people he like he kept people away from this issue at the department of justice and i actually had the opportunity to speak with somebody who had called the department of justice who supervising this guy but what about the fact that john corbett nobody well john karr's i was also he works for goldman and so i mean maybe that had something to do with it

at the time and this was now m.f. global it was just one point six billion dollars one point six what's a few hundred million among friends as compared to the swaps market which is trillion yes i mean the notional value of the swaps market is seven hundred trillion and it was a major coup for this you have to see to be able to reveal who they know to regulate this entire market the u.s. dollar based so it was sent a signal when when gary gensler recused himself it sent a signal to see you have to see was not interested in protecting the customers unfortunately and it was like i said a dual liquidation bankruptcy process now the securities and exchange commission asserted its authority to liquidate the broker unit which had all the customer funds in it under the securities investor protection corporation act and that m.f. global only. only had four hundred securities accounts versus thirty eight thousand futures accounts so the whole thing. it was a mess from the beginning a lot of people were damaged by this sad becau

had all the customer funds in it under the securities investor protection corporation act and that m.f. global only then of course only had four hundred securities accounts versus thirty eight thousand futures accounts so the whole thing is well it was a mess from the beginning a lot of people were damaged by this i'm sad because there was really nobody to stand up so that's why the c.c.c. was created which was great you got to interview john for the c.c.c. yesterday. so we have another comment this one is also from facebook from big big coin joe but he wants to know how inflation relates to big coin and he wants to specify that's monetary supply inflation not price inflation and keep in mind because of the decentralized nature of mining it means that people can't sell all bitcoins mine for a day bob you want to just this one sure and he makes a very important distinction here that we need to address first which is traditionally when we are talking about inflation it was monetary base inflation it was how much money are you actually print to increase. the money yeah the money encreasin

office of inspector general released a damning report in may on his performance or lack there of the m.f. global debacle a front runner for his replacement is yet another goldman sachs employee amanda and tara though she spends most of her young career as a senate staffer but according to the huffington huffington post tara has a little experience in the actual fight which will regulation sounds like a perfect match. and insider trading is still illegal but according to a wall street journal article trading firms have been giving economic data ahead of everyone else for happy feet for five thousand dollars a month was a one thousand and twenty five dollar connection fee waivers will give you the gravelly followed consumer sentiment reports two seconds of the public two seconds might not sound like a long time but is an eternity for high frequency trading strategies that can make millions of dollars by front running of a non premium subscribers and even public report is compiled by the university of michigan which says it relies on private funding because there's not a governmental agency

general for failures related to the handling of the m.f. global failure. now as you said term is up in december do you think he's just a way. a fact of at all it is current position he certainly has some cards to play and he still has power in his current role but i think that people are trying as much as possible to slow him down to make him as ineffective as they can because they know he is a strong advocate for financial reform i think he has maybe a few cards left that he can throw down on the table this july twelfth deadline is perhaps one of them but time is running out and certainly the white house has not stood behind him if they were really interested in financial reform i think we would see him appointed maybe to assistant treasury secretary but we haven't seen anything like that in fact i think if anything i think the obama administration is on the side of wall street on this one interesting can you also explain how the london whale and a i took advantage of regulatory arbitrage opportunities and overseas jurisdictions do you think that these ev

office of inspector general released a damning report in may on his performance or lack thereof in the m.f. global debacle a front runner for his replacement is yet another ex goldman sachs employee and mandarin tara though she spends most of her young career as a senate staffer but according to the huffington huffington post tara has a little experience and the actual financial regulation sounds like a perfect match. and insider trading is still illegal but according to a wall street journal article trading firms have been giving economic data ahead of everyone else for i have two feet for five thousand dollars a month was a one thousand and twenty five dollars connection fee waivers will give you broadly followed consumer sentiment reports two seconds of the public two seconds might not sound like a long time but is an eternity for high frequency trading strategies that can make millions of dollars by front running at the non premium subscribers and even public report is compiled by the university of michigan which says it relies. private funding because it's not a governmental agency it

to me a show of the european sovereign debt trade one that john corazon painted the brokerage firm m.f. global just under two years ago and the futures and history regulator the c.f. you see if finally decided to bring charges civil though they may be but in a damning complaint filed and federal court yesterday the former new jersey senator and governor is alleged to have had a hand and the one point six billion dollars loss of customer funds and these are civil charges not criminal and the trustee of the bankruptcy was who used to be an f.b.i. director and recently requested to be.

and the m.f. and the troika and these global institutions so they unfortunately lost their sovereignty. street protests saying golfing turkey what started a few days ago as a peaceful environmental rally has snowballed into the most fiesta spray of the country has seen in the as a dozens way in just a police line to disperse the crowd to talk in a symbol and that heavy handed response a trait that is in several cities now these are live pictures a streaming from is still bold the initial protests was prompted by government backed plans to demolish in the center of istanbul to build something more sins than it's grown into an occupied style rally against a fleming the government in the capital police also used to i guess to push back protesters who were trying to reach the headquarters of unwittingly justice and development conti. and occupy movement activists told oxy that public and get into a key has reach a boiling point. i would say that the people of turkey have a long struggle of struggling

of inspector general released a damning report in may on his performance or lack there of and at the m.f. global did walk call a front runner for his replacement is yet another x. goldman sachs employee and mandarin tara though she spends most of her young career as a senate staffer but according to the huffington huffington post tara has a little experience and the actual financial regulation sounds like a perfect match. and insider trading is still illegal but according to a wall street journal article trading firms have been giving economic data ahead of everyone else for happy feet for five thousand dollars a month was a one thousand and twenty five dollars connection fee will give you the gravelly followed consumer sentiment reports two seconds of having a public two seconds may not sound like a long time but is an eternity for high frequency trading strategies that can make millions of dollars by front running at the non premium subscribers and even public report is compiled by the university of michigan which says it relies on private because funding. there's not a governmental ag

inspector general released a damning report in may on his performance or lack there of the end of the m.f. global debacle a front runner for his replacement as yet i'm not.

and the m.f. and the troika and these global institutions so they unfortunately lost their sovereignty. what began as a local environmental protest has now spiraled into one of the largest displays of public anger turkey has seen in years clashes between police and activists african tears into the second day in a stamboul earlier a thousand strong crowd blocked the bridge while marching across the city initially the protest was to stop government backed plans to demolish a park in the middle of stamboul to build a shopping mall but a heavy handed response from police which deployed tear gas and the used water cannon on friday triggered unrest else we're including the capital ankara riot police there pushed back protesters who were trying to reach the have quarters of the ruling justice of the bellman party turkish reporter of my here's a now believes a program as would have gained such traction if the police had waited so hard. it was very peaceful they were camping there full of three days and th

and the m.f. and the troika and these global institutions so they unfortunately lost their sovereignty and that now this article in business week warns that oh iceland what maybe shut out from the global bond market nobody will buy their debt if they fail to pay back this three point eight billion they owe these foreign unsecured creditors well the fact is junk bonds are trading at less than five percent right now people with medieval of the wherever it is best to just propaganda that's put forward by the entrenched kleptocracy that a country like iceland just because they got their house in order is somehow going to be shut out from the global wholesale market or bond market that's never been true wasn't true for argentina it wasn't true for any country that had to go through bankruptcy they come out with it and people will buy their bonds because if you've got a yield on a piece of paper people will buy as you point out they're paying so high up for junk bonds the yield are now down to five perc

to the a show of the european sovereign debt trade one that john corazon painted the brokerage firm m.f. global just under two years ago and the futures and history regulator of the c f t c finally decided to bring charges.

inspector general released a damning report in may on his performance or lack thereof and that the m.f. global did walk call a front runner for his replacement is yet another.

similar claim against martha stewart just don't talk about john korn sign you didn't seem to know that m.f. global was a legally binding customer funds to j.p. morgan and finally we've been reporting the clamp down by the feds on basically dealers but now the states are getting involved california new york and the bridge and you have sent letters to certain cryptocurrency converters that's the right and to shut their operations down and while it's easy to transfer big coins once you have them to change them and out of another currency it's a bit more tricky and requires compliance with numerous laws. we'll get to this the ramifications of the n.s.a. whistle blowing scandal on the u.s. dollar and other matters just of salerno in just a bit and here is what's in your prime interest. around the bank as one of the most threatening mechanisms to ensure banks are adequately financed traditionally we think of bank runs as depositors flocking to the banks to withdraw their funds at the same time pushing the bank into insolvency but as we saw in the most recent financial panic there was a different

office of inspector general released a damning report in may on his performance or lack there of the m.f. global debacle a front runner for his replacement is yet another goldman sachs employee. though she spends most of her young career as a senate.

morgan chase or you have jamie diamond he was complicit in the billion dollar theft of m.f. global jon course i he was complicit in rampant security law breaking with the london whale episode and that's just two of i could name twenty samples of j.p. jamie diamond and j.p. morgan breaking quite explicitly many many laws there's no there's no deterrence for lawbreaking there's no rationality in interest rate monetary policy so here they come out with a program where they expand the casino gulag prison state where people working with donald's there to their pay is tethered directly to j.p. morgan that goes right into their pockets just to check their balances or charge money just to do normal breathing it's an open air presume they don't get their presume and there's jamie diamond you know this is a guy who unfortunately is part of the caucus dr c. the most lamebrained least qualified morris' most larcenous tickly minded in america end up in positions of power and this is why the country is sinking and competitively around the world that's why it's such a a sinkhole of moral m

similar claim against martha stewart just don't talk about john kors on you didn't seem to know that m.f. global was a legally binding customer funds to j.p. morgan and finally we've been reporting the clamp down by the feds on basically dealers but now the states are getting involved california new york and the virgin you have sent letters to certain crypto currency converters that's right and to shut their operations down and while it's easy to transfer big coins once you have them to change them and now of another currency is a bit more tricky and requires compliance with numerous laws we'll get to this the ramifications of the n.s.a. whistle blowing scandal on the u.s. dollar and other matters with joseph salerno in just a bit and here is what's in your prime interest. right on the bank is one of the most threatening mechanisms to ensure banks are adequately financed traditionally we think of bank runs as depositors flocking to the banks to withdraw their funds at the same time pushing the bank into insolvency but as we saw in the most recent financial panic there was a different typ

bit more dramatic of a really bad germanic oh it is because you know what almost two years into the m.f. global debacle you know this is something that is passionate to me personally coming from the futures industry john core design is finally being prosecuted by this you have to see you know these are not criminal charges these are civil charges but still the sea of d.c. is demanding a jury trial see n.b.c. is reporting on this and they actually interviewed children who's a commissioner and it looks like we might actually get some justice on this unfortunately see n.b.c. reported the amount of customer funds missing as one hundred billion it was one point six billion but what's a factor of one hundred i mean you think anything's going to come of this i mean it's been two years maybe it's too little too late i don't know what it's never too late because this could actually send a message and as we've talked with a mentor the other day it's not necessarily a deterrent because no criminal who can pick who commits these kinds of crimes thinks that they're going to get caught but there is j