the bank of north dakota takes the credit available to it from the deposits in the bank and packages it into dozens of long programs which are the key to the success of the bank. it's a way for the bank to inject liquidity into specific sectors of the state economy, including high-tech start-ups, manufacturing expansion, and use of new agricultural technology. agriculture is the lowest segment of their loan portfolio. many of the loans start at 1% per annum. still loans are 4%. the bank requires for every $100,000 loan, a new full-time job is created by the loan recipients. the bank of north dakota has 160 employees and its offices a single building in bismarck. [tone] it is a wholesale bank that works with a partnership of over 100 community banks brought north dakota. these community banks do the loan applicant qualification, credit checking and scoping of the deal. because the banks have scanned in the game and because it's the bank of north dakota that ensures the at hearings, the end result is a conservative loan profile. no banks have failed layover 12 years. their return on equ

yes the first bank bailed out by the e.f.-s. f. greece's central bank said on monday it activated the bank rescue fund to save proton bank effectively nationalizing the small lender that is under investigation for possible violation of the country's money laundering laws well the name is neutrino bank that allows them to go faster than light go backwards in time and undo this mess before it even starts well but it's so symbolic that the very first bank rescued by the f.s.f. is engaged in money laundering out now why are we rescuing a bank that is gage their money laundering just like we rescued what covielle why not just let these drug dealers and money launderers go out of business because they don't believe in competition they don't believe in competition i'm all for free market competition but the operative word there is competition if you've got drug kone in rent seeking banking kleptocrats fudging up the works with their algorithmic training in. outright larceny you don't have competition do you ow

the partnership bank, which is the model used by the bank of north dakota, is not too involved in the retail activity of the banks. they largely loans to smaller local banks, who then in turn do more of the retail operations. we understand the bank of north dakota does have some direct deposits and some retail customers as well, but it is a pretty small portion of their business. a little bit more on the bank of north dakota, how they're came to be just one in the country. it was started in 1919, part of the populist movement, and it was to make funds available to a lot of small towns and farm communities. those who were not able to access craddock through traditional banks. they're called a partnership bank, because they have about $40.3 in assets. 100% of the state funds are required the best north dakota state puns are required to be deposited in the banks, and deposits are returned to the state. they did turn a profit in 2010 for the seventh straight year. they made a $61 million profit. i believe about half of that goes to the state general fund. they are a member of the minneapo

the public banks accorded and i don't need the latest banks are they head of this whole pyramid of local public being soldier called start and their own year towards serving the public interest and basically serving the local businesses so where our banks are not lending to local businesses particularly the big wall street takes that have all the excess reserves or books. in germany that's their mandate to serve their local businesses all right let's go back to two thousand and eight for a second here of course the lenders banks in germany were some of the first banks or the first banks actually to get the big bell out from wall street from the u.s. so how does that play into the story well the reason they had they had to get into speculation is there evidence etc better are was that in two thousand and one they were no longer allowed to be e.u. rules no longer allowed them to count their government guarantees as part of their capital and so so that and they had to compete with the other banks to turn a profit for their shareholders or the shareholders are the public the local g

liquidity available for the local banks they partner with the local banks they do guarantee the local banks loans and that allows local banks to make a much bigger loans and more secure loans then they went out there right well having a public bank doing utility functions in the banking sector. would of course increase the competition in that sector and it would create a nice healthy competitive economy but america and the u.k. for the most part hate competition. and they preserve they rather have a rent seeking and the monopoly profits of a club to crowd a class and we're seeing the result of that now on the federal level side where the federal reserve for a second the idea of putting it underneath the treasury reporting to the treasury a suggestion made by dennis considerate recently what are your thoughts on this i think it's better to nationalize the federal reserve venture a limited federal reserve just because a central bank goes so many useful functions and it them in the biggest when it's liquidity function this central bank is there to allow the money supply to expand its lin

trying to protect the bank from the protesters and behind their back the banks are ripping them off blind stupid second pop server thanks so much for being on the kaiser report thank you madoka way much more coming a way to stay right there. with. you . from the stingray. stance on t.v. . but in back of the class a report on max keiser oh boy here it is this is the book i've been waiting for investing in troubled times by charles hughes smith big fans of charles two smith welcome to the kaiser report thank you max just as you are here in europe that you describe as a neo feudal kleptocracy a five hundred million debt service tell us more well max as you've covered on the show many times it seems that we have to ask who is the recipient of all the sacrifices being asked of the european people both the taxpayers in germany here and elsewhere and those who are being are suffering under the austerity programs in greece that suffer and it seems that the answer is not the people of those countries but the banks which are overextended massive quantities of debt to the sovereign states and to the

the kaiser report. discussed how banks around the globe are trading all over the common to further survive the financial crisis that's next. max kaiser this is the kaiser report mervyn king governor of the bank of england says that we're facing the worst financial crisis in history had he been watching the show he would have known that this has been the case for many many months he also goes on to say that he does watch the kaiser report but he doesn't have enough financial literacy to understand what we're saying on the show we're making step aside bring in stacy urban who should be running the bank of england. i would bury it the first day i was running at even neglected to mention of course why we are in the worst financial catastrophe of all time and that's because of the central bank of england and america and the rest of the world and the top one percent that they represent and you know there is this building or this global insurrection against banker occupation the ninety nine percent against the one percent so here

and are stealing from millions of americans and by the way bank of new york mellon the tarp bank that we bailed them out so they could pay postage by stealing our cars and money does we've been saying these are financial terrorists now finally other people are comparing them to other terrorists there's a strong case to be made it yes these are financial terrorists number two america has the death penalty already they're already killing dozens and hundreds of people in states like texas ok instead of. obviously not killing poor black people why not go after the rich white guys on wall street you've already got the death penalty in place pull the frickin trigger you look this is so like you said you know seal team six those police protecting bank of new york mellon from the protesters their pension funds have been defrauded by the bank behind them that they're protecting why don't they take the bank drop it into the ocean somewhere put it on an airplane fired over the atlantic and drop it in the ocean are there the cops in front of the bank trying to protect the bank from the protesters

what are the hidden costs involved in using that bank. we should be looking at what are the criteria for considering the most inexpensive rfp and what of the hidden costs we're looking at? can we get a stronger analysis of what are some of the hidden costs run the foreclosures that are happening? finally, i would like for you to ask to call a hearing on a moratorium for foreclosures. i feel like this is a long-term goal and in the short term, that's something we can do immediately. given how shady some of these banks have been and some of the stories we have heard better clearly illegal, the evictions of tenants, we should put immediate foreclosure -- an immediate moratorium on foreclosures. thank you. [applause] >> i am a district 8 a voter and here as a reporter. thank you very much forgiving me something worth reporting. -- for giving me something worth reporting. i'm here to tell you about something that came out on bloomberg -- bloomberg reports bank of america has shifted about $22 trillion worth of derivatives obligations from merri

nations are being looted fundamentally to save the banks and the owners of the banks and their political lackeys let's talk about the us for a second you're right that the stealth coup d'etat of two thousand and eight to two thousand and ten so what's going on there. i think it's the culmination of this. buying of the political process by the by the financial sector that reached its apex in two thousand and eight and so lackeys of both parties across the entire political spectrum you know did whatever was necessary to save their financial masters essentially all right and so now we've got the the latest incarnation of the anti-globalization movement it's called occupy wall street and you've got naomi klein i think is finally figured this one out and she's joining the barricades so what do you make of the protest. i think it's. a useful. i think those people are heroes to stand up in public their heroes but i think that we can also look at what everybody that's not there could do and this ties in to your campaign of buying silver in other words what kind of. actions can everyone do from t

all the bailout money these banks received, what are we, the community, the people that pays taxes, what have we received? nothing. [tone] you need to take a look at bank of america and the rest of these banks who are conning the people and maybe you need to bring obama here, not for a fundraiser, but to see and talk to the people that these things are happening to. >> next speaker, please. >> [speaking spanish] >> it good afternoon. i would like to tell you all about how lost two of my homes. >> [speaking spanish] >> that happened in 2008. i bought my homes in 2006 in san francisco. >> [speaking spanish] >> i got a letter at chase which at that time was washington mutual, that i was behind on my payment. >> [speaking spanish] >> they called me on the phone and told me i had the opportunity to refinance my homes, but they were giving me the opportunity to do one. >> [speaking spanish] >> this that needed to give them $1,300 for them -- $13,000 to refinance my mortgage. >> [speaking spanish] >> i sent them $13,000 because i had to mortgages, a small mortgage and a big mortgage. >> [speaki

trying to protect the bank from the protesters and behind their back the banks are ripping them off blind you stupid second copy it's safe here but thanks so much for being on the kaiser report thank you very much for coming once they write their . you know sometimes you see a story and it seems so you think you understand it and then you click something else and here see some other part of it and realize that every single source you. you don't i'm sorry welcome to the big picture. a very warm welcome to you this is your news today protesters on the. street they have. a. decent chance a good chance to try to get the status of the human experiments good. to see this rap music because he just goes to be trying. really cool to me and it's all came things assigned. to me to you know confidence in hmong kids and. wants to be seen trade imbalances with stevie close to sing a song like close. to fail sleep late sick in field level i think is us crazy. seems just like in a club in st pete sparks we'll just programs increase the total economy. welcome back to the kaiser report i'm max keiser

folks to run away from the biggest bank. he is ticked about the five dollar monthly debit fee on cards. when a senator calls on run of a bank fears of financial collapse is running wild. i am dave asman. we'll have steve, and elizabeth and mark and morg an and dennis and kim . so kim, was he calling for a run on the bank? >> he was . washington is not in the business of encouraging run on banks and jamie diamond. chairman of j.p. morgan got it right. if you don't allow for a soda in the restaurant they will charge more with the burger they have taken out 15 billion of bank revenue. neither one is good for the economy. >> mark, it doesn't take much to cause a run on the bank. back in 2008 when the banks were in trouble we saw runs on indy mac and that bank doesn't exist anymore. >> you are absolutely right. the problem here is simple. earnings here are up in the banks and revenues are down. banks are trying to recapture the revenue and doing it in the wrong way. they are raising fees on consumers who can't afford it. here is a

bank as well. i wanted to ask a question about the current banking arrangement for the city. we currently bank with three banks, bank of america, wells fargo, and union bank. given the occupy sf and wall street protests happening around the world, there is a lot of focus on the lack of accountability on those three banks at least. how did we come to the decision to go with those three banks? what flexibility is there to make changes in that arrangement? >> a lot of where our accounts set is due to history. technically, these 133 accounts are spread across three banks, but the overwhelming majority are with bank of america, simply because that is the relationship the city has had the longest. your question about what we can do about reing gauging and thinking about changing or completely replacing any of our current relationships, that is what this rfp is about. it is not that easy to move 133 bank accounts. if you think about how often we think about moving our accounts from one bank to another, it is not something that we do every week or even every year. similarly, it is a l

the community bank in which occupy wall street has placed their money is now under f.d.i.c investigation for creative accounting but this is the problem and like i said deck chairs rearranged on the titanic ok so here's another image sent in from john kraus in florida and it combines these two things the silver liberation army and the global insurrection against banker occupation history made fresh daily rise up max keiser dot com and r.t. excellent artwork keep it coming yes fenmore so i want to turn to you know we were talking about for. god and i want to talk turn to this little clip with william k. black who we've had on this show he's the former banking regulator who saw fifteen hundred plus bankers sent away to prison for fraud in the one nine hundred eighty s. the beginning of a teen on the scene and let's turn to this clip here on the dylan ratigan show only about a month ago the federal housing finance and ministration filed fraud complaint civil ones against seventeen of the largest banks in the world in which it said there is a paper trail tha

some mixed earnings news from two of the nation's biggest banks. citi said it earned 84 cents a share in the third quarter, three cents better than analyst estimates. but revenues came in below expectations, down 8% to about $19 billion. the quarterly numbers from wells fargo disappointed. it earned 72 cents. analysts were looking for 73 cents. wells revenue also came in lower than expected, down 6% to $19.6 billion. >> susie: joining us now to talk more about outlook for banks? fred cannon, director of research and chief equity strategist at k.b.w. fred, great to you have you back. >> great to be here, susie. >> susie: so you know, earnings of the ones that have been coming out so far, citish and wells fargo as i just reported, jpmorgan reported better-than-expected numbers last week. what's your take away on these earning coming is out so far? >> well, pretty much it's to the about the numbers that are reported. what investors are looking for is can these big banks make money over a long period of time and there's a lot of doubt. that's why you sa

the banks have money. they're not loaning it and especially to people that want to buy houses. >> is there more that barack obama can do as president to unlock this, to move the paralysis? >> you have to get the banks do their thing. you have to tell the regulators, look, some of the deals will be bad but they have to do their thing. not everything's going to be an aaa person with a perfect rating and much more money. you know, if you have a lot of money, they'll give you all the money you want. if you don't have that much money, they're not loaning, so i think if i were president obama, i'd say, fellows, you have to ease up a little bit because they're not loaning the money to people to buy houses. now, i tell this to people, friends of mine and young people and this is a great time to buy a house but not from you or me. this is a great time to buy a house from a bank and you can get the money because they own the house. they have no choice. they have to get rid of it because these houses are being vandali