welcome to on the money where the business of russia is business with the privatization of key state controlled sectors of vital part of the government's long term economic strategy on the money looks at the company's schedule to be part of the program it's time frames expectations as well as potential budgetary implications along with the risks involved in pushing privatization in russia with the global economy looking weak. discuss russia's upcoming privatization i'm joined by so goldman in the studio with me he is the c.e.o. of the joint star company dining world also i have been here and he's the editor in chief of business new europe and we also have tom when he's the chief strategist a quitter but first let's have an overview of russia's privatization goals. the multi-billion dollar privatization plan will see the russian government sell down its current fifty five percent ownership stake in the economy it could object to well beyond the budget bottom line they mean. in my view. or the government is not the. manager. of. the garm. diversify the structure. it is a bit with boy.

they want to sell they need to sell to get them out of it get them into private hands or at least private oversight but they're not going to set any price and clearly the market is extremely unstable and the russian stock markets lost at least a quarter of its value since august and so it doesn't really make sense to sell them such as you don't need to so you can wait see here and then the prices will go back up and we're talking billions and billions of barrels that is very interesting as we look at so many of these countries in the euro zone and i'm going to say it again this is where they have to sell assets because they needed for their budget because of the deficit to run and russia doesn't have to sell assets right now straight on our fed's it would like to because as ben pointed out in principle once they get the economy out i'm sure get the government out of the economy so russia has a little bit of a luxury situation right now compared to a lot of its peers in the world. thank you peter we are in such situations when we can afford ourselves wisely handle these resources very very

people in the planning of this has been to eventually privatized the postal service because they know that it's an essential service even in the internet era and that irked them is that the postal service has six hundred thousand workers who are gaining a living wage and benefits in retirement their unionized workers and. postal management is carrying out the wishes of people who say wait a minute if we get rid of these unions and the unionized workers we can replace them with at will workers hourly wage workers with no benefits and that money would go to the government or over the people of the united states it would go to you know to profiteers c.e.o. have to say so so i'm going to end up as it was situation where were the checks that i might get in the mail whether they're they're you know current business deals or or future retirement checks are being delivered by a guy who is you know working a pizza job in the evening to supplement his income. right and one thing that's true of our postal workers design no because i've been gone through is we are headed i mean getting a job in t

paving the way for many more contracts for private companies to have with the u.s. government to ensure that there's always this fueling system of building more walls those multimillion dollar contracts come back tech speer expense of course private prisons receive up to two hundred dollars a day pretty teenie a record three hundred ninety thousand immigrant detainees passed through the system just in two thousand and ten but what they want is to increase profits will be cut medical care because services the cubs the higher qualified personnel and with that happens the pats translated into abuse systematic systematic abuse throughout the country. there have been reports of abuse and even death said private run immigration priscilla to use it is a system over which is only expected to expand as long as profits dictate the immigration debate in los angeles ramon bill indo r t and we are coming up now on an election year immigration policy will no doubt be an issue as ramon said that will be debated and discussed but you know whenever this comes up there is a major com

may be cash strapped but the private prison industry is having no problem raking in the dome lining their pockets with more green every time an undocumented immigrant is arrested ahead here how one man's american dream was crushed after his residency was revoked. it's friday september sixteenth eight pm in washington d.c. i'm christine for down there watching our team. well the white house has given the green light to the sale of an arms package to taiwan a sale that is leaving a lot of world leaders on shaky ground here's the deal taiwan says its fleet is aging and they were hoping that the deal would include new advantage f. sixteen jets the u.s. which has provided weapons to taiwan since world war two and is only headed to help they sign a nine hundred seventy nine law will instead sell less advanced older jets to taipei the reason is china really doesn't want the u.s. intervening at all especially though with those advanced weapons in some ways you could look at this like a crazy thrilling rivalry china and taiwan two siblings that don't really get along at all china in fact still cla

s plan to privatizing social security and ideally take i'll tell you about the drastic measures republicans are resorting to in order to keep their and could stitch in the dark about their radical agenda. in the best of us the news so much for e t n t's plans to buy out wireless competitor team mobile it just as filed suit yesterday against the proposed merger arguing that if the nation's second biggest wireless telecommunications provider a t.n.t. merge with the nation's fourth largest provider the mobile consumers would. end up getting screwed by state by the deputy attorney general of the united states james cole read a combination of a.t.m. t. and t. mobile would result in tens of millions of consumers all across the united states facing higher prices fewer choices and lower quality products for mobile wireless services as lawsuit seeks to ensure that everyone can continue to receive the benefits of that competition. he was willing to drop thirty nine billion into the buyout and not too pleased with the department of justice is the city to file suit against it releasing a statement toda

he is a strong advocate of the flat tax, social security privatization, free trade. he is considered one of the premier supply-side economist in united states. now after opening statements each attorney will call to witnesses who will be subject to cross-examination. then, each side will make closing statements and afterwards the jury will rule on the case. if the defendants are found guilty, i will impose the judgments. you will listen carefully to the opening statements and the witnesses and at the end of the hearing you will be required to determine whether there is sufficient evidence beyond a reasonable doubt and that ms. lee and are union followers are responsible for public malfeasance. is that understand -- understood, jury? mr. moore you may begin your opening statement. >> thank you your honor. ladies and gentlemen of the audience and ladies and gentlemen of the jury thank you for being here. when i read the title of this trial, public unions, they good or bad for america, i thought this must be a trick question. i think there is no question you will find t

private prisons. with more than two point three million people behind bars the united states trumps china russia and the rest of the world in both the number and percentage of people doing time where it falls short though is being capable of containing such a large population it's a political dilemma turned cash cow for dozens of corporations creaming profits off punishment private prisons make money off of incarceration the more people they lock up and the longer they keep them the more money they make so they have the same perverse incentive to expand our justice system and increase our number of people or our number of citizens who are behind bars because it increases their profit margin. the profitability of private jails depends on the prison population continues to go up the rate of incarceration in the us has quadrupled since the eighty's when america's war on drugs are short in the three strikes policy which ties judges to mandatory minimum sentencing even for nonviolent offenders since the la

those can clearly be done privately. >> absolutely not. you can't have a bus system in a small county privately unsubsidized. it only works if there is a profit. we can take washington out of boston and amtrak and make a profit on it. there is no profit in mississippi to rone train system. -- run a train system. >> the challenge you have is that people in the past have gone to voters and said if you raise taxes, we'll build roads and roads were not built. sometimes environmentalists held things up. remember the first conversation obama had, he said we're going cut through the red tape. the democrats in congress said not a chance. thinker constituency is not the people who want to drive to work but the people who are the environmentalist groups. so they said no. until you get those guys out of the room making it impossible to build roads at a reasonable cost, at a reasonable time, you're going to have a hard time convincing people that you're really interested in roads. until you tell the guys that want to do subways that is an interesting

and geo are not the only private companies making a killing out of our border security infrastructure wells fargo is reported to have millions and shares in private prisons security contractor for g.s. boasts about their ability to transport hundreds of thousands of detainees every year people like. an undocumented nursery worker who himself has been detained several times the thing that is not in the economy and times is with and they thought i was a smuggler. but as oscars fly. success in settling in america shows the billions of dollars being spent on private contractors to build the border wall and on high tech monitoring equipment have not stopped the flow at all the homeland security mentality for lobbyists are really. paving the way for many more contracts for private companies to have with us that are meant to ensure that there is always is fuelling system of building more walls those multi-million dollar contracts comic tax spirit expense of course private prisons receipt up to two hundred dollars a day pretty teeny a record three hundred ninety thousand immigrant detainees p

private initiatives.ds would get totaling they would be competing forces and developers would develop the street. no, there is very little other than the basic functions of government, the right to life. >> liberty in the pursuit of happiness, to protect us from fraud. we don't need government. everything else the market can take its place private initiatives can fill in those gaps. >> one of your strongest beliefs pillar of the rand institute is the morality of expect a vandalism. what is moral about the free market? what is immoral about using force to interfere with the free market? >> what leads individuals pursue the happiness that is in the declaration of independence. we believe morality is about the individual pursuing their life, being the best you can be. these are going to make the happiest you can be. what the government does, central planning does, it says no, we know what fochb t that make make you happier and we know the vegetables, we the government knows what you should buy and eat. we kn

subject to external scrutiny that means many private contractors face few consequences for the poor or even inhumane treatment of detainees and we just see you know more and more isolation sensory deprivation and prisoners who literally never interact with human beings when guards would come into the facility there would be a sign out front with their stock price to let them know how the company was doing corrections corporation of america and geo group are the two largest private prison companies which combined revenues of two point nine billion dollars last year but critics say they've been using that financial clout to line their own pockets even further encouraging politicians to keep going with the heavy handed sentencing program by launching an influential lobby campaign in the corridors of power lobbying in order to influence public officials only a small part of the private prison industry effort to achieve policy change others include campaign donations so the companies make hundreds of thousands of dollars in donations to politicians nationwide both on the federal and stat

privatizing his and the answer. >> privatize criminal court? that would be unconstitutional does like the neighborhood courts in the community courts. they are unconstitutional. i have the subject matter. we live in a state, the state constitution gives them the authority with the subject matter. it cannot be stipulated. who knows how much money is being bled out there? if you look at these statistics, san francisco, it is not a giant court. we can do if in a proper authority and the proper subject matter jurisdiction. we can do this. >> i think the community court is another example of the campaign season dealing with the highly sensitive issue like quality of life crimes. many rightfully say it is privatization because it doesn't bring all of the essential partners to the table. you need your most experienced dna and your most experienced prosecutor. and to partner with wraparound services to you can deal with the cause rather than the symptom. >> this question has taken on two separate issues. privatization is wrong. you should not be dealt

almost all of them are public- private partnerships with local government, state government, and private sector to try to figure out a way to break down those barriers and to make affordable broadband with affordable equipment and digital literacy available. we are rolling out a program to recall internet a essentials, which within our footprint we will offer to eligible families of three-part program, broadband service for $9.99 a month. we are going to give them a voucher that will entitle them to buy a computer for $149.95, and we will give them a suite of materials in print online and in person in the communities. we are rolling it out in 4000 school districts in 39 states and the district of columbia. >> that is great. >> we all get our softball. >> i am waiting for it. we just talked about infrastructure deployment common -- so clement, and how do we get there. can tax incentives broadband? what works best and is most fair? tax credits, accelerated depreciation, other options? i know you do not want to put your current political hat on, but if you are putting on your current politi

that's what private equity firms do. but what governor romney doesn't mention, that often means cutting wages, cutting pensions and cutting jobs. 17 years ago when running against massachusetts senator ted kennedy mitt romney also boasted about creating jobs. back then he didn't say tense of thousands. he only said 10,000. the senator's campaign mitt back with this. >> i don't like romney's creating jobs because he took every one of them away. >> i've worked there 30 years. and i never dreamed that i'd lose my job. >> mitt romney says he helped create 10,000 jobs. the former workers at fcm in marion, indiana say something else. >> if he's created jobs, i wish he could create some here instead of taking them away. >> today nearly 200 others lost their jobs shortly after baine bought their company, instituted pay cuts and layoffs. then after workers went on strike, baine closed the plant entirely. a few years later, the american cop american pad and paper went under costing more jobs. baine and romney took a hit to reputat