in the marketplace and if you pay even more you get spoon fed to you inside information from michael bloomberg who is there the mayor of new york who is of course overseeing the new york fed who of course is involved goldman j.p. morgan and the federal reserve bank in washington dispensing inside information the legally bloomberg is involved in legal conspiracy that's not conspiracy theory that's conspiracy fact it's all tied in to bloomberg bloomberg being of course now running for president supposedly lining things up where is he getting that money oh i get it it's inside information which he will of course try to legalize to cover his butt at the end of the article there's a quote it's going to be awfully tough to identify the source of the leak in this case because of course it's always awfully difficult to prove insider trading twenty eight nations were involved so a whole lot of people knew this ahead of time well the see if you see another regulator's they don't have the money to pay for. the subscription on bloomberg to show you who's trading on inside information they're bankrupt purposefully on purpose so that they ca

international settlements in switzerland where the head of the mafia family and then the fed and the new york fed and the e.c.b. the bank of japan and bank of england are regional mafia captains and their techniques are the same they lend money you can't possibly pay back and then we don't pay back they steal everything you've got and then they crush you with rampant inflation and food and energy well he blames financialization for bringing the world to the edge of a precipice and it is true i mean that's part and parcel of the us federal reserve system it's the private bankers it's jamie dimon the lloyd blankfein who are the fed and they've created this financialization as a way to occupy our economies and the people in the revolving it's a global insurrection against ben bernanke the occupation all right thanks so much for being on the couch report thank you max don't go away much more coming why so stay right there. twenty years ago or just country. just because he. was. trying. to teach began the journey. where to take. welcome back to the kaiser report i'm max keiser time now to go to new yo

international settlements in switzerland there of the head of the mafia family and then the fed and the new york fed an e.c. b. bank of japan the bank of england or regional mafia captains and the techniques are the same they lend money you can't possibly pay back and then we don't pay it back they steal everything you've got and then they crush you with rampant inflation and food and energy well he blames financialization for bringing the world to the edge of a precipice and it is true i mean that's part and parcel of the u.s. federal reserve system it's the private bankers it's jamie dimon a white blankfein who are the fed and they've created this financialization as a way to occupy our economies and the people in our revolving it's a global insurrection against ben bernanke yaka creation all right since you were thank so much for being all because a record thank you might think away much more coming why stay right there. in the. world. really believe that science and technology from. the future are covered. that's. welcome back to the guy's report on max keiser time now to go to new york and talk

new york since 1995. he also serves as the deputy general counsel of the fomc. mr. baxter has been with the new york fed for more than 30 years. without objection, your written statements will be made part of the record. it has been agreed upon by the witnesses ranking member play and myself and mr. elbra is to deliver the remarks of the joint written testimony of mr. alvarez and mr. baxter. the testimony may run longer than the testimony for five minutes, and i yield now to mr. alvarez. >> chairman paul, a ranking member clay, members of the subcommittee, the federal reserve bank of new york appreciate the opportunity to discuss the way the federal reserve and forms the congress and the american people about its policies and actions. central bank lending facilitates the implementation of monetary policies and allows the central bank to address short-term liquidity pressures in the banking system. the role of the lender of last resort is a critical one long filled by central banks around the world especially during times of economic crisis when discount window lending can mitigate strains in the financi

new york since 1995. he also served as deputy general counsel of the fomc. mr. baxter has been with the new york fed for more than 30 years. without objection, your written statements will be made a part of the record. it has been agreed upon by the witnesses, ranking member clay of myself and mr. alvarez will deliver the oral remarks for the joint written testimony of mr. alvarez and mr. baxter. this testimony may run longer than the customary five minutes and i yield now to mr. alvarez. >> chairman paul, ranking member clay members of the subcommittee, thomas baxter the general counsel of the federal reserve tank and i appreciate that part our tendency to discuss the way the federal reserve informs the congress and the american people about its his policies and actions. .. lost to date on an discount window lending. a federal reserve regular larry releases sycophant detailed information about its operations in order to promote the understanding of how the federal reserve foster's financial stability and economic stability and facilitate an evaluation of our actions while preserving the ability to

will have criticized eitherrevious administrationith paulson, treasury secretary, tim geithner at new york fed and ben bernanke at the fed or larry summers is inthe wte house, what would be your criticism of what they did to rescue e economy? >> thedid not give enough to the homeowners. they did not care enoh about e homeowners. they threw all of their efforts and money at the bas. i understand that because the banking system is crucial to this... >> rose: financial system. >> and we need to have it working. >> rose: so you're saying they should have turned that but then turned to the housing? >> correct. it was such an afterthought. it was so not important to them. it was so evident to most people th the banks came first and main street came second and that fed into a dangerous perception that there are two sets of rules. one set for powerful and wealthy institutions and another set for main street and everyday folks. >> rose: what happened to the populous rhetoric, though, making that point that they're bailing out wall street but not main seet? >> i hear in the my e-mail box all the time. >

and then, but at the new york fed, i think practically essentially 100% of the loans were going to foreign banks. and the answer i get is that, you know, they are foreign banks but they have subsidiaries and they qualify under the rules, i wouldn't say the law, but under the rules that they can, you know, go to the discount window. but it just seems to me way out of proportion when you think that tremendous amounts of loaning that went to these foreign banks. and this is not easy for the average american citizen to understand. could you enlighten us on why it seems to be disproportionate? i'm sure they don't represent that percentage of the financial problems that exist, did they? you know, a third of the problems didn't deal with foreign banks surely. what is the explanation for the? >> yes, chairman paul, thank you for that question. first, the starting point is federal statutory law in section 13, paragraph 14 of the federal reserve act says to the federal reserve that with respect to discount window borrowing we are to treat the branch or the agency of a foreign bank just like we treat

new york stock exchange. how are stocks trading after the overnight news from the fed? >> a very good morning to you. thank you very much for that. tokyo stocks are trading lower on this thursday morning after that news from the fed and chairman ben bernanke's news conference. let's take a quick look at the opening levels here in tokyo. the nikkei average trading lower, down by more than 30% and breaking below the 9,600 mark. overnight in new york, a four-day winning streak. the fact that the fed chairman did not make any reference to the possibility of qe 3 and that the fed cut its growth forecast for u.s. economic growth this year and next triggered a round of selling. now, u.s. stocks were also prone to profit taking, especially after four straight sessions of gains which pushed up the dow by almost 300 points. on thursday, the -- on wednesday the dow finished at 12,109 points, or two-thirds of 1% and nasdaq finishing at 2,669.19. here in tokyo, the overnight losses in new york could put pressure on stock and the nikkei rise of 2% could mean investors could shell shares to take profits. meanwhile,

, the federal reserve bank of new york published an online article about what it called -- quote -- "the mistake of 1937." now, what's that all about? well, the new york fed was referring to the premature fiscal and monetary pullback in 1937 just as the economy was beginning to get its legs to get out of the depression. that premature retrenchment was an historic mistake. it killed the recovery then in progress, sent us back into the great depression for another almost four years, until it was finally ended with the stimulative spending of world war ii. paul krugman, the nobel price winning economist, says we have already repeated the miss stake of 1937. we have taken our eyes off of what should be our number-one priority, number-one priority: creating jobs. we have pivoted to an obsession -- again, i repeat, an obsession with short-term budget cuts, which by their very nature will destroy jobs and weaken the economy. madam president, let me cite another learned example of the disconnect between washington and the rest of the country. here in washington republicans assert that the recovery act was a failure, and why do they claim that? because they claim

so it really is his years at the new york fed that caused him to be on that particular list.t: anthony, a democrat, you are on the air. caller: hi. thank you so much. ms. morlingenson, had you at all looked at the developer robert tusey? i heard time and time again that he was not prosecuted. but he was of over -- george bush granted a pardon to the jafment it just revealed it was a prime example to predatory lending and favor to high-ranking officials, and the whoa case was pretty much thrown out and covered up, i would say. have you looked into that? or could you look into that? guest: i'm sorry. i don't know the details of that have particular case, brand-new it sounds like one of many that i think really has ended up not being prosecuted aggressively. this sounds like something i would be very interested in looking into and seeing. but i'm very unfamiliar with it right now. host: have the obama department offered the state of prosecutions going on in the case of the bad actors? guest: they have declined to comment when my colleagues and i have asked this very comment. why

and people who are going to go into teaching can postpone that and go to the ofr, the fed, the new york fed and other places and participate in the process of discovery that we think is so exciting. g so as i mentioned, we're not, by design, looking to, you know, build up a huge community. the ofr is -- >> [inaudible] >> i'll let dick do that. we are drawing on the whole reserve bank system. we have 12 reserve banks. we have economic research divisions and supervisors and other analysts at these institutions. those are critically important to how we function just like in monetary policy, they are all engaged in that, trying to bring them all into the financial stability. we are making an active effort to get out to the economic community. as you work, we engage the community monetary policy all the time. we have the outside in on that. we have criticism, you know, suggestion; we get everything. i think in the financial stability, we can aim to do the same. >> i don't have anything to add. >> okay. shall we take questions? please. are there any mics? yeah, there you go. >> with risk manageme

new york since 1995. he also served as general counsel of the fomc. mr. baxter has been with the new york fed for more than 30 years. without objection, your written statements will be made a part of the record. it has been agreed upon by the witnesses ranking member clay and myself, mr. alvarez will deliver the oral remarks at a joint written testimony of mr. alvarez and mr. baxter. this may run longer than the customary five minutes and i yield now to mr. alvarez. >> chairman powell, making member clay, members of the subcommittee on the thomas baxter, we appreciate the opportunity to discuss the ways the federal reserve informs to congress and the american people without its policies and actions. central bank lending facilitates implementation of planetary policy and allows the central bank to address short-term liquidity pressures in the banking system. this role as lender of last resort is a critical one longfield around the world, especially during times of economic crisis and discount window lending can indicate strains in financial markets that could otherwise escalate in the two shar

the new york times reports those arrested fed information to the c.i.a.ng up to the raid of bin laden's compound in abbottabad, pakistan. one in custody is a pakistani army major who officials say copied license plates of cars visiting the compound. the times reports c.i.a. director leon panetta raised concern about the arrest when he traveled to islamabad last week. i'll have more on what top u.s. officials are now saying about pakistan's cooperation against terrorism during my next update in about an hour. for now we're live in washington d.c., allison burns, ktvu channel 2 news. >>> the prosecution is expected to rest its case today in the murder trial of casey anthony. the 25-year-old florida mother is accused of killing her 2- year-old daughter. prosecutors have based their case mostly on circumstantial evidence. they say anthony repeatedly lied about her daughter's whereabouts during the month that caylee was missing. the defense contends the little girl was not murdered but drowned in her grandparents' swimming pool. >>> time is now 5:15. pg&e now

"the new york times" reports those arrested fed information to the cia in the months leading up to the raid of bin laden's compound in abbottabad, pakistan. one of them is a pakistani army major who officials say copied license plates cars visiting the compound. leon panetta raised concern about the arrest when he traveled to islamabad. >>> 7:17. house speaker joan boehner sent a letter to osama bin laden warping the president he has to justified continued u.s. action. the house speaker says if the president does not respond he could be in violation of the war power's resolution. that prohibits american troops for being involved in military actions longer than 90 days without the approval of congress. the white house has suggested that the limited u.s. action in libya is not subject to the war power's resolution. >>> this weekend, house speaker, boehner and president obama will have a chance to do some bonding on golf course. boehner and the president have a four-some set up with the vice president and. this is the first time the president and house vehicler -- and this is the first ti

i'm just fed up with nastiness, which the "new york times" seems to make its regular, its regular dietthey have to get the message soon either or late they're the west or at least the less puscilanilous part of the west won't tolerate it anymore. >> you know big words. that's why you're impressive. >> the fellow you had on a few minutes ago ought to be ashawmed of himself. the charge, the secretary with trying to get our eyes off iraq, therefore hype up the terrorism issue is nuts and irresponsible. i have no confidence whatsoever in the, if you excuse the expression, the backbone of the present leader of the united states. he is a pushover. so they are going to play this game. >> all right, larry, you are off the white house christmas party list. away you go. >> i've been off it for a long time. >> neil: i wanted to give him this yesterday but didn't want to share the dais with the congressman weiner thing. larry was not your normal cup of diplomatic tea. thank god. i was reminded of that again by a "new york times" account of his senate confirmation hearing. when he was asked if he h

new york. >> susie: you know tom as bruce kasman was saying and as darren reported, it looks like the fed is just sort of running in place. and that's why we didn't see much excitement in the markets today. a lot of uncertainty and confusion about what though do next. >> tom: yes, and when there's confusion of course a lot of investors say you know what maybe now is not the time to put money to work. and we saw that late in the day today here, so let's go ahead and roll with tonight's market focus. >> tom: we saw a couple of failed rallies in stocks today as buyers couldn't muster enough strength on the heels of the federal reserve decision and chairman bernanke's public comments. so we'll begin with a full day of trading. after starting out weak, the s&p 500 rallied into positive territory by mid-morning, and hovered around the unchanged mark until around 2:30 eastern time. as federal reserve chairman bernanke held a news conference, we really saw sellers take over. giving no hint to a specific plan to goose the economy as more, the market fell, sliding to its low of the day at the close. o