the one hundred dollar bills was counterfeit he reported it to the secret service and went back to t.d. bank to get a refund but the supervisor said that was against the bank's policy since here dirty left the bank with the cash i asked why a bank customer me in this case should have to serve as this bank's quality control officer well the banks are counterfeit money they are counterfeiting money of course on wall street they counterfeit money it's called a credit default swap or a naked credit default swap that's counterfeiting the bond markets completely counterfeit currency markets counterfeited stock markets counterfeit the counterfeit a hundred billion dollars worth of facebook stock it's not worth really more than two or three dollars a share they floated it at thirty eight dollars a share that's of counterfeits game it's a ponzi scheme but this t.d. bank they gave somebody third counterfeited money and then when they went back to say way it's counterfeiting they said no we our policy is we don't accept counterfeit money this is i think one of the plots of a marx brothers movie could h

morgan chase t.d. bank and make america have reached similar agreements i'll discuss where they even get off doing this here to discuss all this with me is gary jones market a center senior scholar and b.b. and t. professor for the study of capitalism and also weighing in remotely william black associate professor of law and economics at the university of missouri kansas city he's also the author of the best way to rob a bank is to own one. thanks guys so much for being here today let's start with california yes and you know this is a state that has it's my home state it's a state that has had as well financial problems for years how significant is this news about stockton a filing for bankruptcy well i think it's actually really significant news because for the opposite reason most people think because we've gone through this financial crisis for years now you know meredith whitney the famous wall street analysts printed years ago that there would be mass bankruptcies by municipalities across the u.s. and