economy max matt taibbi goes on he says as one former s.e.c. staffer describes it the agency is now filled with so many wall street hot shots from often best a good bank that it has been in infected with the goldman mindset from within and the goldman mindset max what is the golden mindset greed and suicide banking and. bank and kill you kill yourself. that's the goldman mindset their suicide bankers the goldman sachs could be the aliens from outer space they could have spawned a banking parasite there eighty five broad street before they moved uptown and now they're they've made their way into all these right. sorry agencies there though there is the night of the living dead or i should say night of the living deaths all right thank you hammer thanks so much for being on the kaiser report thank you max don't go away stay tuned much more coming your way so stay right there. could be free. free. free free. free. free. free. video for your media project c.e.o. don carty dot com. i welcome back to the kaiser report i'm max kaiser let's go to tenne

message to those who dared to downgrade it ok well so let's look at where this message is going matt taibbi a whistleblower claims that over the past two decades the agency has destroyed records of thousands of investigations by white washing the files of some of the nation's worst financial criminals the f.c.c. has kept an entire generation of federal investigators in the dark about past inquiries into insider trading fraud and market manipulation that gets companies like goldman sachs deutsche bank and a i.g. so what do you think about this story here that the f.c.c. is the one that was through has deleted files that is breaking the law by the way because according to the law they're supposed to save these files. for twenty five years you write it. to the idea that there is a criminal racket because the f.c.c. and the investment banks and the fund managers of the rating agencies and other aspects of government are cool looting to create this on a holy racket of price manipulation and price fixing and extraction and siphoning of wealth for their own anger at the jeopardy of destroying soci

welcome back to the kaiser report max it's great to be back all right catherine also fits first matt taibbi in the latest rolling stone asks is the f.c.c. covering up wall street crimes your thoughts. yes because their academic model is a criminal mind oh so of course they're covering of crimes they have to ok so you say the economic model is a criminal model explore that a little bit in other words the banking system itself is basically a glorified ponzi scheme correct well we have an economy that's dependent on war and organized crime and and you know part of the profits that organized crime is part of with keeping the whole economy going it's not just the banking system it's every community in america so let me give it this way if the united nations says we're competing for four hundred billion dollars a year global money laundering then then the financial centers to attract that money and wondering are the leaders ok let me follow up on this money laundering fame because walk over here now owned by wallace fargo which is owned in large part by warren buffett has just been fined two perc

billion dollars minus will be one hundred fifty trillion they it seems like a huge amount to them so matt taibbi in this piece goes on to say to give you an indication of how absurdly small a number even twenty billion is relative to the sums of money the banks made unloading worthless some prime's assets on foreigners pension funds and other unsuspecting suckers around the world consider this in two thousand and eight alone the state pension fund of florida all. all by itself lost more than three times that amount sixty two billion dollars thanks in significant part to investments in these deadly m.b.a.'s these mortgage backed securities right and the bailouts starting in two thousand and seven seventeen trillion dollars through a freedom of information act that there was a one point two trillion dollar gift given to bankers like jamie diamond in goldman sachs's lloyd blankfein just on the cost just to keep them sweet so no twenty billion dollars in that context is virtually the equivalent of a wad of gum stuck to the bottom of your shoe i mean by comparison i'm sure there are pimps in neighbor

also gave out a quarter of a billion dollars to the wives of some morgan stanley banks toure's as matt taibbi pointed out in a recent rolling stone article christine neck the wife of a high profile banks are on wall street john mack was given two hundred twenty million dollars by the fed to prop up an investment firm that she and her friend susan at start up now the two women had any experience and finance but preferred figure they were a safe investment through a boatload of essentially free cash it. free and interest free cash and all of this all the secret lending to major for the corporations dictators wall street wives all of that would have gone down in complete secrecy had not been for the efforts of senators bernie sanders and franklin i was ron paul to make the fed open up their books and let us the taxpayers take a look so you still wondering why the fed's actions aren't fixing our economy. let's imagine for a second that this wall right here is keeping our economy from collapsing think of it as a giant game. but this dam is starting to crack and holes are starting to form due to al