and without wall street if we put wall street and shut wall street down, what we're going to do is deny the funding and the essential capital for the next general ration of googles -- generation of googles and the next generation of walmarts and home depots that not only provide wealth but also create hundreds of thousands of jobs. and i would submit that no other country in the world has a more, a more well-functioning capital system and financing system than the united states of america, and that happens with the investors in wall street. so we should remember that, that they are extremely important for our economy. now, who is culpable and who is guilty and who should be on trial here? and who is responsible for the $11 trillion of losses? well, let me tell you who i think that should be. on trial should be barney frank, barney frank -- [applause] who is the man who said that we should roll the dice on the housing market, and we went and did roll the dice, and americans lost trillions of dollars. i would submit that chris dodd, the former senator for connecticut -- [applause] should

weiss a wall street. takes large much larger sums of money the involved the mafia stamps the regulatory system is such that they can get away with it the lack of media scrutiny the absence of regulation the widespread illusion that markets and real estate could only go up created a casino mentality and environment for successful fraudsters and white collar criminals your honor for many years until my arrest on december eleven two thousand and eight i operated a ponzi scheme i knew what i was doing was wrong and the criminal. white collar crime on wall street has been underreported except for a very few high profile cases as when hundreds of reporters staked out a new york courthouse to report bernie made all submission of guilt in his ponzi scheme and there are millions and millions of dollars there is all the o.j. sort of day as many of them readily angry at an ira worth one point three million of my other money it was about one point eight million pieces and it's gone on that how do you think he got awa

it's all wall street?> well, i think it is wall street because certainly people don't go into a bank unqualified and get a loan. these bankers aren't literally shoving money down a hole they know won't get poured back. >> how come nobody was watching this and catching it? what happens to the regulators who fell asleep at the wheel? how accountable are they? >> they weren't so much asleep. they were under this libertarian fantasy of alan greenspan and the -- mr. cox at the s.e.c. who were not just asleep. they were intentionally looking the other direction. >> i would say what you've just articulated is proving the point i just made. there's a narrative out there that you've articulated that all the ills of our current economic stimuli at the feet of wall street and why not go after them. i don't think it requires any defense of wall street. we could sit here and maria would certainly agree and find many things with wall street that is indeed culpable of. that's a very different narrative than saying if tha

i think as a historian it it's too early to tell make any kind of dance on the grave of occupy wall street right now i think they did shift the conversation that's true but i think they did more than that you don't see a movement go from new york city all the way across the globe like that very often and three hundred sixty five days really isn't a very long. right now in some towns and in the u.s. there are people occupying homes that are about to be foreclosed to try to prevent banks from foreclosing there's been all sorts of new relationships between labor unions in particular and a lot of the occupy wall street you know activists and you know you wouldn't say that about any other social movement you know where there was labor or women's movement or the civil rights movement that three hundred sixty five days later say oh well they didn't accomplish all their maximal goals therefore they're done i think the issues are still there it's too complex too complex the austerity is still being shoved down the throats of innocent people who had nothing to do with this wall street scandal and no

>>> it's been a year since occupy wall street started on wall street. what gains has this made?y bank. why they're always there to talk. i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people there for you, night and day. ally bank. your money needs an ally. wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ] [ male announcer ] introducing a reason to look twice. the entirely new lexus es and the first-ever es hybrid. this is the pursuit of perfection. >>> welcome back. chicago's teachers strike continuing with no end in sight but is there hope on the horizon? nbc's rehema is in the windy city with the latest developments. >> chicago city teachers -- city lawyers went in

who had brought down wall street. hedge funds. back in two thousand and seven with the blues still in full swing my business partner e. o'connor attended this party just off wall street for traders under the age of thirty. it reeked of affluence. shiny cars eating food people hitched buns were like only clubs were on god these sums can be invested in complicated vehicles in secret outside the prying eyes of wall street regulators soon all of the traditional investment firms have been who is no wonder so many of these young people wanted him and at the time. i personally spent five years in a private equity and then made the decision instead of going back to business school to move over to the public side so that was a conscious decision on my part i think most people probably get involved because there is an opportunity to move up the ranks and make more money at an earlier age in hedge funds and there isn't private equity which is the natural progression after a couple years in an investment bank program well if you're going to b

austerity is still being shoved down the throats of innocent people who had nothing to do with this wall street scandal and no banks are bankers have been held accountable and that has not changed and they're being just as reckless with the money guaranteed federal money as they were a year ago so we're just setting up the next crisis to go lie bore and all these other scandals just wait just wait a year from now we might be talking about occupy wall street two point zero after the next crash that they're setting us up for because nobody went to jail no tougher regulations when the banks are bigger and more consolidated than ever and they're doing the same kind of gambling with federally insured money they were doing i mean jazz you're everything you're saying that proves that the occupy movement hasn't done anything so many if we go to you in islamabad what do you think about this. sure i would have to agree with joseph here because if you look at it overall the american system of the society was basically based on the entrepreneurship and the growth that came from that entrepreneurship and eq

first anniversary of occupy wall street. we are going to the streets of lower manhattan. allison is there. she writes for "the nation in" magazine. what do you see? >> there are hundreds of people marching in the streets. i have seen two arrests myself. i have seen reports of about 10 more. i just witnessed a photographer be arrested. the white shirt supervisor officers are acting very aggressively. there are officers on mopeds acting aggressively, telling people they will be arrested if they are walking in the streets. the protesters are not deterred yet. there are several factions walking all over wall street just trying to put up with the police presence. i am walking along south street. there are probably around 200 people. >> we are showing a live stream of what is happening in downtown manhattan. what are people saying right now and what is the state of zucotti park itself? >> i have seen reports of about 200 people at zucotti as well. more arrests are happening in that area. i was marching with the protesters and they

, "the wall street journal report." now, maria bartiromo. >>> but first, here is sue herera, with some of the stories and the headlines this week. over to you, sue. >>> thank you, maria, here is a look at what is making news as we head into a new week on wall street. it was a disappointing jobs report for the month of august, the labor department reported that the economy just created jobs well below the expected. but the unemployment rate fell to 8.3%, because fewer people were participating in the labor force. revisions showed that 41,000 fewer jobs were created than first reported. mario draghi announced plans to help to fight the fiscal crisis in europe. and the ecb will buy government bonds with three years of make maturity or less, and will have no limit on the amount they can buy. they would have to apply for it and meet economic reforms. the markets like that plan a lot, a monster rally on all three indices on thursday, following that announcement. the dow and s&p 500 hit three-year highs, and the nasdaq posted

then we look into wall street's shadow market of credit default swaps. finally, a report on the perilous state of state finances. we begin with the foreclosure crisis. in the aftermath of the great recession, the huge number of foreclosed properties was a significant factor in weighing down the economy. many were stuck on the market for an unexpected reason: the banks couldn't find the ownership documents. as scott pelley first reported in april 2011, lenders wanting to evict people found that often, the legal documents behind the mortgages simply weren't there. caught in a jam of their own making, some companies appeared to have resorted to forgery to throw people down on their luck out of their homes. >> these folks on the street aren't homeless. they slept on the sidewalk because they want to keep their homes. facing foreclosure, they camped out to get in line to beg their bank for lower payments on their mortgage. so many in the country are desperate now that they have to meet in convention centers coast to coast. >> we understand people have been he

occupy wall street is celebrating its one year anniversary and gone are the days when the protesters were dismissed by the media as hippies or drug abusers ahead we'll show you where the movement came from and also where it's headed. the good evening on this monday september seventeenth it's eight pm in washington d.c. i'm christine and you're watching our t.v. . well this evening we want to talk about the massive protests taking place across the middle east and north africa and really all around the world after last tuesday's attack on the u.s. embassy in libya which ended the death in the deaths of four americans including the u.s. ambassador protests have been spreading all throughout the region there are conflicting reports regarding the source of the anger from a low budget offensive anti islam film to overall frustration with the west u.s. embassies around the world are on high alert and many americans in foreign countries are fearing for their safety we want to take more of a bird's eye view and connect some of the dots in terms of what we've seen over the last seven days and

play the wall street used to invest in the american economy into things that used its money to produce goods and services but then wall street became the american economy our financial system was reengineered through what's been called financialization with banks credit cards real estate insurance companies as the new power players. capitalism a sort of go off the rails it ceased to be capital its financial. the fact that it's now all about speculation the fact that it's about ponzi schemes and the facts about selling and buying paper from an economy of real goods real commodities and real services to a system where people were buying and selling money buying and selling assets buying and selling other firms were no new value was created most sense should be says the whole system has gone predatory i think we had a transition from what was a free market system to something now that is out of control and probably what i would define as a predatory system frequently in markets that are manipulated or the. maybe a few out there who are investors mega investors it's even even that's very d

each week keep it here where wall street meets main street. have a great week.see you again next weekend.

newspapers calling it a feisty little movement while for many of the people who support this occupy wall street movement in the united states has done a lot more than just be feisty out on the streets and even the politicians who many of whom refused to really come out and say that they do understand the concerns of the occupy wall street movement many experts say that we're seeing them right now today the democrats mostly using the occupy wall street message in their election campaign so these are issues that are not just alien to the united states and many people of some are willing to admit this others are not but this still continues to underline the fact that occupy wall street did bring this conversation out into the light yes certainly honest a whole lot of people would have been surprised six months eight months ago if you would have told them on the one year anniversary this movement would be alive and well would. again dropped quite a few a few people to the streets but also would have shifted the conversation and ramon i want to talk to you about another shift in that conversation an

occupy wall street is celebrating its one year anniversary gone are the days when protesters were dismissed by the media as hippies and drug abusers i had we'll show you where the movement came from and where it's heading. it's monday september seventeenth five pm in washington d.c. i'm christine frizz out and you're watching our t.v. . let's begin with the massive protests taking place across the world after last tuesday's attack on the u.s. embassy in libya which ended the deaths of four in the deaths of four americans including the u.s. ambassador protests have been spreading throughout the middle east and north africa there are conflicting reports regarding the source of the anger from a low budget offensive film about islam to overall frustration with the west u.s. embassies around the world are on high alert and non-essential u.s. government personnel from embassies in places like sudan and tunisia they've been asked to evacuate in beirut lebanon today a massive protest was put on by hezbollah and our to correspondent lucy catherine of it joined us earlier for an update on that protes

is willing to sell occupy wall street t. shirts but doesn't agree with the message what do you think about you know as as the movement kind of is taking another form these people trying to capitalize off the beginning and i mean do you think about hypocritical for these people to do you know i mean he's a capitalist and he even says in the article he's a businessman he's an entrepreneur and and that's the way he looks at it he doesn't look at occupy wall street as a phenomenon of the public something that's trying to shape our society he looked at it as a lot of people are willing to pay for something that's coming from this hey look people are interested in this that means they'll give me money and then once that sort of you know what is opportunity left and people there's a backlash against him he had some negative p.r. and all the movement isn't as visible anymore now he's trying to distance distance himself so this is when he becomes very critical of the movement but i thought he had ninety nine problems and what happene

which is that both public sector unions and wall street banks thrive on government subsidies and lack of competition so i just wanted to make sure that was all clear and on that note balderdash one wrote i'd be very interested to hear what the difference in the amounts of money that public sector unions are taking out of the economy compared to wall street not even close to the same ballpark i'll bet well it's hard to know what's being extracted but if you want to look at the top five contributors in public employee unions and finance which is together with insurance and real estate from open secrets which is the center for responsive politics you can see there how they compare so when you're looking at the top five you're looking at not a huge difference in terms of the dollar amounts but what you will see when you get more into big picture of the lobbying contributions to pacs. it does look from my assessment like wall street spends a lot more but i encourage you to go to open secrets and check it out for yourself because the numbers are all there and yesterday we compared central b

i think they will probably judging the spending habits of washington and wall street want to do both i appreciate you being on the show gerald's a level weapon everyone thanks again that's gerald celente founder and trans research institute and publisher of the trends journal have a great weekend you you thank. all right it's friday so let's wrap up with your feedback let's take it from wednesday jim rickards was on the show he was talking about pretty much everything operation twist the fed gold fort knox jamie diamond europe and who he calls the institutionalized a rent seekers who have attached themselves like parasites to democrats and to the republican party respectively take a listen around secret someone who figures out a way to manipulate the system to a shark well for themselves but they give very little back or give nothing back so they actually destroy well for society. so he identified public sector unions as the rent seekers for democrats and wall street as the rent seekers for republicans original prisoner x. said on you tube if people believe what almost all that is al

make a case that in fact the wall street lobby is the. one pushing this kind of proposal they see the payoff in slowing down or entirely blocking the remaining dodd frank frank reforms yet to be in place so there's a big payoff for them isn't it is it is this like just a rush for the money you know let's quick get the money and bail i mean don't they realize that they're playing with fire here with a potential great depression in the united states or does wall street just when a matter you know heads i win tails you lose kind of thing no matter what happens i think wall street thinks they'll win regardless of the situation they have a pretty big president in their back pocket the taxpayer funded bailout so they know that if they get into trouble again they can rely on taxpayers to save save them again so they are just looking at the high potential for short upside gain in the short term they really aren't looking at the the long term when you're looking at a stable regulatory environment i'm very glad that you cited senator portman in cla

government consistently caves to wall street.n a former washington insider says so coming up next. most buzz worthy tweets, posts and pontifications, from the entire social stratosphere including you. join in, tweet us, and you could be a part of our on-air and online coverage. >>now that is politically direct. (vo) ...after the premiere of joy behar: say anything [ male announcer ] the inventors of twix had a falling out, so the production of twix was divided between two separate factories. left twix factory cascades caramel and chocolate onto cookie, while right twix factory flows caramel and chocolate onto cookie. today they share nothing but a wrapper and a driveway. try both and pick a side. joining us. >> my pleasure. thanks for having me, man. it's like chicken and crunchy stuff got married! i only use french's french fried onions on my crunchy onion chicken because it's america's number one brand. just minutes to make, then bake! >> eliot: why don't they just admit it? wall street always wins and washington always caves.

"the wall street journal report." i'm maria bartiromo. worries about europe return. what about the fiscal cliff? but the market chugs on. what it all means for your money. >>> the woman who kept the banks in business during the financial crisis, my conversation with former fdic chair sheila bair and the story she couldn't tell while she was on the job. >> so many lives are lost every single day because of lack of access to drinking water. >> the remarkable new partnership between a renowned inventor and corporate america that could save untold lives. it's the real thing. "the wall street journal report" begins right now. >> this is america's number one financial news program. "the wall street journal report." now, maria bartiromo. >>> here's a look at what's making news as we head into a new week on wall street. disappointing news on the broadest measure of the size and strength of the economy in america. the financial reading of the gross domestic product shows that the economy grew at an annualized rate of 1 1/3 per

and the wall street journal one of america's leading newspapers is under fire the paper has been running off ads from mitt romney's advisers without disclosing its ties we'll speak with media matters the group reporting on this case about subjective journalism. plus it's the place we turn to in a crisis in the hospital but according to a prominent surgeon up to thirty percent of health care the seri and one in four hospital patients are harmed by mistake will look into the issue in just a moment. it's friday september twenty eighth four pm in washington d.c. i'm meghan lopez and you're watching r t. alright well we want to begin today with an update on your privacy we want to take a closer look at the ways the government is stripping away your digital rights and also ways that you are making it easier for them as well as hackers to access your information and here to help me do that is our cyber guru r t where producer and like hi and you're also we have a lot of ground to cover here but let's start off by talking about the cloud a relatively no low number of people actually knew. you kn

rob where do you how is occupy wall street at wall street doing without a physical presence or has there has a physical presence emerge that just isn't known to the world is there a particular church that you media plays real hang out or whatever but there are two things that have happened and it's very interesting to watch what's happened in america as sort of tailing what has happened in spain and in egypt and we're sort of you know we're learning from those countries and we seem to be falling into some of those patterns which is very interesting so after after the encampments were were forcibly disbanded across the country what we found at least in new york and i think this is pretty common we found in our neighborhoods creating community space is going we have a project called occupy a town square where we go into public parks all over the new york city different communities staten island in sunset park in a story out in the borrows to sort of take the spirit of what we do to take direct action trainings legal advice medical services whatever we can provide to these communities to he

and one of the years since the occupy wall street movement began the ninety nine percent say politicians are still ignoring them doing nothing to solve america's wealth inequality crisis. this is as you can hear live from moscow i'm marina joshing fierce clashes have erupted in pakistan as muslim fury over a us make continues to spill into the streets thousands of people staged demonstrations in several cities there with violent scenes in the south of the country the backlash protests which first began in egypt have now been running for almost a week and have spread to over twenty countries worldwide. class of iraq to me pakistani says we are watching where at least one person has been killed and some awesome dozen injured as thousands of people past with the security forces knocked off on the beach to do is constantly moving into the city now the police fired warning shots into the air they used to pass as well as it happens by interspersed. also on sunday there were demonstrations held in various cities across the country in the city of this while hundreds of other local businesses. th

liz: do you care who wall street might be backing?rlie gasparino said that wall street money is still flowing to mitt romney because, quote, consider the alternative that obama is not friendly enough to wall street and he would do thing that would crimp their profits like push through the volcker rule and dodd-frank. >> if you look at what has happened to wall street since president obama took office wall street has come from being near bankruptcy and liquidation after lehman brothers to making almost record profits. the president of the stock market is an all-time high. president obama is very good for wall street. president obama has been good for the stock market. there is certainly leadership issues lacking in both candidates and it is unfortunate that there is so much weight put on to the president is. our problems are due to much bigger issues like we were not prepared for the high speed industrialization of china and we wish the president could wave a magic wand and solve the problem. we need the leadership skills of ronald rea

, "wall street journal report." now maria bartiromo. >> here's a look at what is making news as we head to a new week on wall street. disappointing news on the broadest measure of the size and strength of the economy in america. the reading of the gross domestic product shows the economy grew at a rate of 1 1/3 percent for the quarter down the previous reading of 1.7%. much of the change due to poor farm production in the midwest because of a severe drought. the dow jones industrial average broke a four-day losing streak on thursday with the best day in two weeks after fresh concerns about europe eased. the markets were down, however, on friday. consumer confidence jumped to the highest level in seven months in september. the conference board said the index rose 10% from august. the indicator is closely watched because consumer spending makes up 70% of the u.s. economy. >>> two important pieces of data for the housing mark were out. sales of new homes in august were down from july. e median price of a home rose by a