welcome back to the kaiser report imax guys are time now to go to new york and speak with warren pollack a semi retired wall street executive who now blogs and blogs at w e pollak dot com warrant welcome to the kaiser report hi max i warrant we've gone over the details of the m.f. global crime scene a few times here on the kaiser report tell us what you think is the bigger story of m.f. global right now we're watching law being changed to selective interest the interests of j.p. morgan goldman sachs and the banking cartel and what they're trying to do right now is set themselves up for a bank holiday and what they're saying is that they're speculation will always be subsidized by customer funds and when you look at the amount of speculation which is in place it's trillions of dollars versus real assets which are only perhaps one one hundredth of that amount so when losses are sustained which they will be through this financial crisis in europe and in the u.s. the only source of savings that can be tapped is in fact customer funds so we're watching j.p. morgan in the in bankruptcy court t

for this edition of the kaiser in part with me max kaiser and stacey herbert our thank my guest warren pollack want to send me an e-mail please do so at kaiser report at r t t dot are you are you can follow us on twitter or facebook tell next time is a nice hatter saying by all. you know sometimes you see a story. you think you understand it and then you. realize . i'm. a bit of humble pie is served up for james bond to london to an electronic spy rock founded by the f.s.b. in moscow six years ago belong to her majesty's secret service. transmitted to voice control. plane from downing street the story was a good deal with details from just a few. more e.u. sanctions against the syrian regime in the pipeline as the arab league observers mission prepares its final report into how to stop the daily deadly violence. and remain gripped by mass protests as. the government's austerity measures and calls for the president to go. and you are watching live from moscow i'm sean thomas let's get right to your top stories the u.k. has finally admitted to spying on moscow after years in denial a former seni