it was in every kind of speculative investment known to man. in russian equities, in thailand bonds, and everything in between. and it was enabled by wall street. >> reporter: an emergency meeting was organized by the federal reserve last night, here at its new york office. at the table, more than a dozen of wall street's biggest bankers and brokers including david komansky, chairman of merrill lynch, sandy weill of travelers and sandy warner of jpmorgan. one by one the firms each agreed to kick in more than $250 million to bail out long-term capital before its troubles sent shockwaves through the banking system. >> why did the fed step in, organize all the wall street banks, and kind of sponsor this bailout? because all of the wall street banks that enabled long term capital to grow to this giant size, to have 100 to 1 leverage, by loaning them money. so when the treasury and the fed stepped in and bailed out, effectively, long term capital and their lenders, their enablers, it was another big sign that the rules of the game had changed and th

speculating and creating instability around the planet but a robin hood tax would change all that and it would put an end to the high speed machines that account for most of the trades made on wall street machines that make tens to hundreds of thousands of trades a sack and based solely on a computer formula those machines caused a flash crash of the market back in two thousand and ten leading to the dow jones falling one thousand points in just minutes without explanation the extremely risky and a robin hood tax would put an end to those as well so the question isn't should we put in place a robin hood tax on the banks there's the question really is why the hell are we taking so long to put in place robin hood tax it's time to put an end to fraud and theft on wall street it's time to make banks pay their fair share again and it's time to bring stability to global markets we need a robin hood tax in america now. as the big picture for tonight for more information on the stories we covered visit our website to tom harkin dot com free speech dot org. or to youtube channel for a link to

taken out of the equation many years ago this is a battle between savers versus speculators that's the battle unions and jobs are gone it's only about people who have capital want to save and get an interest rate on savings versus borrowers want to low interest rate on those things to borrow and speculate get bailed out actually max ok this brings me to the next species the banker and that's the global organizations like the i.m.f. and world bank because the i.m.f. christine lagarde said that we need to bring unions back to the table because i am a foreigner of threat to global economies posed by austerity drives reflecting that i'm less concerned about over aggressive deficit reduction programs the joint statement said governments should manage fiscal consolidation to promote rather than reduce prospects for growth and employment it should be applied and socially responsible manner well let me explain something i'll give you a lesson in economics in twenty seconds it's centrally planned its central bank plan its low interest rates to favor speculators to the point where unsustainabili

let's look at the numbers now fluctuating about ninety nine dollars a barrel in new york speculation the us start again last week is weighing against those worries about iran. and is trading at over one hundred ten dollars a barrel european stock markets are a lower greece and its private curtains continue to negotiate over the terms of a hoped for debt swap deal in britain the footsie slipped point eight percent led by miners and banks lloyds banking group are shedding four percent germany's dax is over a percent in the red as well led by commerce bank that is down four percent and a three and a half percent loss for siemens was reported at in fiscal first quarter profit. here in russia markets are trading lower at midday is losing just under over half a percent in my eyes it is shedding over a percent let's take a look at some individual share moves on them isaac's most of the blue chips are lower with banking and energy stocks the main decliners p.t.b. is losing a half a percent down one point seven percent companies planning to invest more than one billion dollars in the oil rich

economy which is clearly shrinking lanced a boil of speculators worming and you will stimulate the economy unless you yourself are the pos in the boil which i suspect that you are well again you know perhaps the british population shouldn't despair too much because things could be worse they could be american the caging of america there are now more people under correctional supervision and america more than six million that were in the gulag archipelago under stalin at its height. there america and there you go a third of the american american want to know what about now look. like americans don't care that they're in cages as long as they get cheap access to cable t.v. and a good rate on a mic not get. exactly if they're in a banana republic i mean many monkeys went behind a cage as well and are fed bananas the accelerating rate of incarceration over the past few decades is just a startling as the sheer number it tripled since one thousand nine hundred eighty to seven hundred thirty one per one hundred thousand no other country even approaches that in the past two decades the money that

the straits that have rewarded speculators and push legitimate jobs out of the way so this is exactly what you don't want to see an economy that builds itself as being competitive there should be a competitiveness in the u.k. economy where people who want to work and have jobs doing stuff should not be squeezed out by the central bank which is making it possible for the cancer of speculative bubble of comics to grow its way to the point of killing the host that is to say the u.k. economy which is clearly shrinking lance the boil of speculators worming king and you will stimulate the economy unless you yourself are the pos in the boil which i suspect that you are well again you know perhaps the british population shouldn't despair too much because things could be worse they could be american the caging of america there are now more people under correctional supervision and america more than six million that were in the gulag archipelago under stalin at its height. there america there you go a little american come out of a lot about how much. like americans don't care that they're in ca

while there's a lot of informed speculation nobody knows quite who was behind this but i think that what the consensus is that whoever was behind this is less interested in setting back you grans nuclear program and more interested in setting back possible ratcheting down of tensions between iran and the united states and you know this is something that the g.o.p. candidates would celebrate presumably especially at let's take a listen to some of the rhetoric coming from them it's a very telling let's take a listen. well there have been scientists. in russia and in iran there have been computer viruses there have been problems at their facility i hope that the united states has been involved with maximum covert operations. to block the iranian program. taking out their scientist including breaking up their systems all of it covertly all of it deny. all of it covertly all of it. i mean when you hear this coming out of the g.o.p. candidates i mean this is exactly what's going on. i love to see president newt gingrich deny taking covert actions after going on stage and saying he would indors

do you know that 70% of the oil market is speculators?s not people buying oil it's speculating on oil. that causes prices to increase by $27 a barrel. it's groups like goldman sachs that make these estimates. the koch brothers are involved in oil speculation and might move prices for every single american 20 to 40 cents per gallon. imagine every time you go to fill up your tank, 40 cents of that might be going to the koch brothers directly. it's an amazing stat. finally, oil speculation in 2011 cost every family in america $600. ok, so now i give that as background and if that's the case obviously these guys stand to make a ton of money if oil prices go up. if you threaten war with iran, oil prices might go up. if the prices go up, the economy might get really hurt in which case president obama might not get reelected. is it a dream come true, obama doesn't get reelected and they make so much money. >> there is so much skullbuggery. i'm not going to say it's a giant conspiracy but there are so many hands dipping and feeding into this oil

goes through a an era of islamic fundamentalism before the next wave of youth of speculators would rise again. and you know as tensions rise between the us and between egypt look at the bigger picture what does this mean between relations between the two countries are our the us are our close ties with egypt are they over now not yet i mean the council is a partner to the u.s. forces there is somewhere between one point eight two billion dollars a year going to the ministry of asia but i think you're right what we see is that when the next parliament disbarment is going to form the next government is going to have a majority of fundamentalists formed and under this one not just the muslim brotherhood but you have the soffits office will have and the bath at least worked with al qaida or the band in public once established a sherry on a stage where women would have less rights in the past they used to send fighters if that is so there is a lot of clouds out there that needs to be dissipated before we know exactly in what direction if you egypt is going to go that are. looking now i had i

bubbles and speculator gamble our kings that run the economy and as a result the incarceration population keeps going higher and higher and americans love to be incarcerated they hate their freedom they would prefer to be treated like dogs in a cage and have some warden like mitt romney in charge and that's why we're going to vote for all right stacy ever don't go stay right there we'll be back right after this. well. this month but particles that make up the fabric of the universe find what you're looking for in the deep siberian forest or been to fire it was the lasers in fibers pull out your template of a new game in the gym and let the teacher begin all of that here with severe specific knowledge here on. the future covered. i'm x. times or this is the kaiser report we're back talking about bananas and banana republics stacey well max speaking of bananas in my first headline here in the second half we have can a monkey pick a hedge fund they may match a typical fund of hedge funds in their research paper from some academics at their brussels free university in belgium and the geneva s

massive encouragement for people to leverage speculate.the reason those work is you have the green span put in the bernanke put. borrow 99 cents. buy 100 cents worth of assets and don't worry that anything bad is going to happen because the fed has your back. >> you're say we have done nothing since 2008. so is it going to take meltdown for a reset meeting? it sounds like it's going to hit rock bottom somewhere. . >> we're doing the same thing over and over. the top six banks had $6 trillion in assets. they now have $9 trillion. the top three banks in france have $6 trillion in assets. we have banks everywhere in the world out of control, stuffed with bad assets being propped up by the central banks. and they are playing this game of kick the can and pretend that everything is all right. >> put yourself in the american peoples' position. we're in full agreement that the basic theme of "greedy bastards." it's the theme of this show, which is the system with both political parties facilitating a distorted capital market. if you look here in