tv The Dylan Ratigan Show MSNBC October 19, 2011 4:00pm-5:00pm EDT
ntroversial and unorthodox tools that the fed used during the financial crisis to cover up the banks' problems and perpetuate a too big to fail system with a dark casino-based swaps market. why should we care? well, because the group of people doing this are appointed, unelected, elite platinum citizens, who are exploiting our nation's economy and our nation's currency to preserve their own interests, mind you, unchecked when it comes to power. they are not part of our three branches of government, if you will. if you need an example of their abuse of power, here's one. the audit report exposed today the following. 18 current and former fed board members who held the top spots at the same banks and companies that were given emergency loans
from the fed. so the same people who were saying you better do what we say or else, the same platinum citizens threatening america in 2008, continued to do that at the expense of students, retirees, the unemployed and every other nonpla-platinum citizen, and because of the way the fed works there's no transparency as to how they do this. the more of this we'll see the harder it is to continue the tim geithner led platinum plan so the trillions in bad assets that the fed, you and me, we either fed, bought during the bailout from the banks who had bonused themselves creating, it still largely secret. the only thing we do know is that the american taxpayer now owns them. remember, the final barrier to ending this culture of platinum citizenship that really began at
the outset of america, and we've watched it through the original rejection of slavery into the rejection of women as property, into the rejection of the youth as having no voice, even though we're willing to send them to war and have them get killed with an amendment that dropped us to 18, well, we are seeing that the final division in america is not race. it is not age. it is not gender. it is economic status relative to the platinum citizenship plan that is being run on behalf of bankers at the federal reserve. we start now with a privilege, a chance to speak the man who got us the first glimpse inside the federal reserve, bernie sanders, senator from vermont. it was your amendment, senator sanders, that even yielded this little sliver of information about the 18 fed members bailing themselves out at the same time that they were at the federal reserve. are you pleased or satisfied
with the information? would you like to see more? >> well, i think it's a start, and what it tells us, according to the gao, is that there are very serious conflicts of interest. look, the fed is the institution, maybe the most powerful agency in the united states government, and their job, among other things, is to regulate wall street. well, the truth of the matter is it is people from huge financial institutions who sit on the fed boards that are regulating themselves. that may make sense to somebody, but it doesn't make sense to me, and what the report documents is that in a mum of instances people who sit on these fed boards and also high-ranking officials at financial institutions have been able to get programs and financial assistance from the fed to their own financial institutions. that is, to my mind, a real conflict of interest. >> interestingly potential
conflicts of interest must be released by law in several areas. we do not. many directors own stock or work directly for the banks that are supervised. how is it that we've come to accept a conflict of interest that the whole western world would reject on its face? >> dylan, i think that's a great question, and what we have to say now is enough is enough. now from my perspective, having offered this provision that got us this information, this is just the beginning. what i intend to be doing is working with economists and the general public to begin sitting down and say what kind of structure should we have on the fed so that it reflects the needs of ordinary americans and not just wall street and the big financial institutions.
>> with that said, as you know, the federal reserve chairman ben bernanke yesterday was speaking up in boston, and he referred specifically to this technique where the federal reserve will secretly purchase whatever the bank is selling in order to bail them out, and here's what he said about it. he said, listen. these can be valuable, even when the zero bound is not relevant, referring to the interest rates, rock bottom rates at 0% which is screwing over the retirees and other people, and he said i expect to see increasing use of such tools in the future. and before we go any further, one of the proudest things that i've done, believe it or not, senator sanders, since i've been at msnbc is a segment explaining how this works, and if you'll indulge me i want for everybody's benefit to play exactly what exactly these secret fed tools are and what you're basically doing it to help us solve it. i'm the bank and suddenly holding a pile of garbage. i'm going to bring it on to the table, but the economy can't function if i can't get money for my garbage so the federal
reserve, using taxpayer money basically becomes a goodwill store for the bank. we now want to know what's in this garbage bag because this garbage bag represents the risk of the future of this country. if this is worth -- don't tell anybody. the fed doesn't want anybody to know. >> i want to know. >> why is what's in this bag so important to america? >> i want to know if there's anything in there that's worth the money you've been given. >> we've been giving money to banks in exchange for garbage bags full of empty receipts, elliot spitzer, bill black and countless others in this country want to know when we've been giving our banks money in exchange for worthless garbage. >> that's an absolutely fair question, and i think the other issue that we've got to focus on is the structure of the fed itself. as i said, does it make any sense for the people who are
regulating the banks to be the bankers themselves? i don't think so. we've got another provision, dylan, in dodd/frank which revealed during the financial crisis that $16 trillion in various interest loans went out to every financial institution in this country and central banks all over the world as well as corporations in america and wealthy individuals. whom made that decision and who is today not making the decision that small businesses all over the country who are starved for affordable loans can't get them? why isn't the fed helping small business the way they helped wall street? bottom line is. fed is an enormously powerful agency. b, very few people have a clue about how the fed operates. three, there are very obvious conflicts of interest between the people who sit on the fed, who are bankers themselves and the transactions that they
undertake. fourth, now is the time for us to have a national discussion about real reform of the fed so that it works for everybody and not just wall street. >> do you not know to pressure both the treasury secretary tim geithner who has been very resistant to this as well as the department of justice and eric holder who has been very resistant? i mean, those seem to be the two people that i would want to talk to. >> well, we'll talk to them. of course, we'll talk to them, but the bottom line is, as you well know, wall street is the most powerful and in my view dangerous entity in the united states of america today. they are powerful economically and extremely powerful politically. contribute huge amounts of money in campaign contributions and in lobbying. right now the top six financial entities have assets the equivalent to 65% of the gdp of the united states, so this change ain't going to come easy.
you're taking on the most powerful people in the world. but i think that is the job that we have got to undertake. >> and that would seem to be, if you look at the history of amendments and this sort of task to this magnitude, it will only be if everybody, this is not a left/right issue. you can only assert power on this level if you do it all together all at once, is that not correct? >> absolutely. we're going to need a real grass roots movement, and you're beginning to see it. i mean, this is what this occupying wall street is about. it's saying enough is enough. these guys on wall street have enormous power. they have done terrible destruction to our country. they have got to be held accountable, and i think you have to add the fed to institutions that have got to be accountable. >> yeah, and this all goes back to if we eliminate the auction process, the amount of power any industry has, whether it's the banks, that's where this amendment that we're talking about all the time comes from. >> you know every day there are articles being written about the
amount of money that wall streeters are contributing to this candidate or that candidate. the incredible power of their lobbyists, the fact that they spent $5 billion over a ten-year period to get deregulated to lead us to where we are right now, so these guys are very, very powerful, and it will take a very significant grass roots movement to take them on effectively. >> i suspect, senator, that that's precisely what's developing, whether it's -- i think it's bigger than the occupation. the american people understand that it doesn't matter whether it's get money out or the occupation or anything else. there's 50 organizations that are all seeing the same thing, and as lange as we go to the same place when this is all said and done i think it will be fixed. thank you for your leadership, senator. >> thank you very much. >> senator bernie sanders. coming up, fire bombs, tear gas and marching on the capitol. not zuccotti park. another lovely day in greece. why it matters to us here in america.
plus, oh, no, he didn't. last night's gop debate gets nasty. finally some pro wrestling action worthy of primetime. man, it was good? did you hear what he said about her and her about him? oh. but what about the debate bedeserve on, i don't know, banking, trade, energy, health care? that doesn't rate. and later for anyone who has ever embellished a story a bit, turns out your friends are probably to blame. the science behind all those little white lies. sam: i'm sam chernin. owner of sammy's fish box. i opened the first sammy's back in 1966. my employees are like family. and, i want people that work for me to feel that they're sharing in my success. we purchase as much as we can on the american express open gold card. so we can accumulate as many points as possible. i pass on these points to my employees to go on trips with their families. when my employees are happy, my customers are happy.
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a fierce clash in greece today as unions launch a 48-hour strike. nothing new there. protesting the latest austerity measures which include tax hikes and wage cuts, so whichever end of the stick you're on, it's no end anybody wants. greek debt now 162% of its gdp, and if you need another reason why young people are taking to the streets in that particular nation, well, nearly half of them don't have anything to do, you see. 42% of greece unemployed, of theout. time new for our mega panel. imagain lloyd weber, jonathan capehart and rob cox. pleasure to see all three of you. >> good to see you. >> hello. >> you are looking at me, i feel like i'm meeting with my legal and banking team. >> league of justice. >> i feel like whatever we have to resolve will get resolved right now. how long imogen, whether it's the -- how long will resistance action like this, which is
really just frustration, understandable frustration in my opinion that's playing itself out, maybe for better or worse, i don't know where these things are going, but there's a certain point when taxes and austerity have to become an option, not the option. in other words, debt restructuring, clearly other questions that are going to emerge. >> so terrifying what is going on in the eurozone at the moment, and let's not forget. america is so exposed. $2 trillion worth of assets in those european banks. >> not if we cancel the debt. >> this is the thing. >> next problem. >> you're dealing with 17 different countries in the eurozone. they all have to agree internally. when you have figures like 16% of germans don't want to bail out the southern europeans anymore. >> do the germans know that they -- the northern europeans are not bailing out the southern europeans would be like the chinese not bailing out america. the -- the fact of the matter is the german banks and the french banks are the ones who lent them
the money in the first place. china lends us money. >> where do you think the germans and french got their money, too? >> from the chinese. >> from american banks and american savers. i mean, it is a global problem, and we're all linked to this, but -- >> how do you talk about it in a way that it makes it -- right now it's it's the greek unions or -- >> you localize it. you say, guys, this is what happens to you if we continually fail with policy in our own country. if we continue to have debates like we had, the republican debate. >> the debt ceiling debate. >> we paper over real issues, we are going to have problems like this in greece. this is a debt problem. there's too much debt. they don't have the capacity to pay it off. homeowners in america are facing similar problems and if we continue to fail from a policy perspective we'll see the same civil unrest. >> speaking of localizing, and imogen you just said, that the united states is very exposed. can you talk about or can either
of you talk about why what's happening there, how would that impact us? >> you're saying the civil unrest or the financial distress. >> the financial distress. >> the bottom line basically is you're looking at an event that will diminish lending in america, that what you're looking at is the capital base, the warehouse and resource base of the american banking system which is already fragile and propped up through the fraud. >> from 2008. >> and now you have a second issue which is that these seem american banks won't get money back from greece, won't get money back from italy, won't get money back from spain and they will say, listen, there will be no lending in america because we do not have any money and we're not getting paid back from greece. >> we're looking at an aeke of 2008 coming from -- >> this makes lehman brothers look minor. >> wow. >> once they do a marshall plan and work this out -- >> it doesn't have to be this disorderly. >> thank you. >> we've had years.
this is why policy, the failure of merkel and sarkozy and the other 15 countries in the eurozone, we can watch this thing coming. let's head it off. let's have some sort of restructuring. >> great, but the -- >> whatever you want to call it, you need to do it in an orderly fashion. think about general motors the way that that failed. did the world -- i mean, everything -- >> still makes cars. >> still makes cars. >> some people got hurt, banks got hurt and secured lenders got hurt. >> and it was unpopular. >> and it was unpopular. takes leadership. >> but there's no leadership at the moment because countries inside those countries -- >> it will half. speaking of lack of leadership, everyone is talking, today, about the ferocious wild animals that are on the loose. no, no, i don't mean those ones in ohio. i mean these here. >> this is one night when i hope what happens in vegas doesn't stay in vegas. >> it's not -- >> you're shaking -- you're
shaking your head. >> let me speak. >> let me speak. >> rick, you had your chance, let me speak. >> i'm speaking, i'm speaking. >> you get 30 seconds. >> number two, let me finish. >> dylan, dial answer, dylan. >> that was mean. why start with the only woman in the field. >> believe me, it's an equal opportunity indictment. interesting though because we're just having this conversation about the need for really serious leadership globally so we can navigate the debt unwind and navigate the transition to a 21st century democracy and we're presented with -- >> that. >> he said this. i said that, and around we go. no one is talking about banking. no one is talking about trade or health care. no one is talking about education or debt. they are talking about who sat next to each other in home run. >> romney, terrified, not a good
look. >> they did talk about health care, you know, how romney's health care plan is obamacare on a national level. they did talk about debt, kind of, when talking about her mincain's 9-9-9 plan which even couldn't really explain, and when everyone hit him on what he was talking about, he said but you haven't read the entire plan or haven't seen the details. brother man, where's the details? >> apples and oranges. very confusing. >> apples, oranges, you know. >> aren't we at a stage where it is a popularity contest, where it is -- >> yeah. >> in a sense -- >> totally. >> we have to assume there's how many guys in the field out there, one woman and they are all just kind of jockeying, trying to look cool and popular. i've got to say i thought romney, you know, he kind of you know what slapped perry. i thought that was kind of -- look, he was more popular for me after that, i've got to say and
the dumb struck reaction, deer in the headlights response was bad and rick perry's handlers didn't handle it well in the end which is to say this is rick perry being rick perry. he's on audition here, not just to be the most popular dude but to win the presidency. >> and the interesting thing is whether it's us or -- there's so many -- you can see it emerging right now, the demand outside. political sphere for the conversation that we were just talking about which is a grown-up conversation about debt, a grown-up conversation about what it means to have a banking system in the 21st century and down that list from health care to war, et cetera, et cetera, and i really believe the reason whether it's the streets of greece or asia or america, the frustration is that we're not getting that serious conversation. the panel stays. after that we all talk a lot about confronting china here. currency rigging, the trade deficit in particular, but our next guest, our specialist, says there is a silent threat that you cannot see in the currency market or in the tax code from china every day. nothing helped me beat arthritis pain.
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well, one topic you hear a lot about on this program is, of course, china, and there's a fierce debate over our relationship with that country. both as a large foreign creditor of ours and, of course, provider of a variety of consumer goods. they have also cost us a wide variety of american jobs and continue to facilitate the enrichment of certain multi-nationals who are invested in that rigged environment in front of you. currency manipulation and china's ability to produce the goods we consume and sell them back to us as a tax protected by a tenfold tax for what we would charge for them for american goods. if the currency in the tax doesn't get you, there's another part of the debate that sometimes gets lost in all of this. that is the fact that chinese leadership is engaged in another type of economic war with the
united states which is a resource war, and our specialest today is author of "red alert?" how china's growing prosperity threatens the american way of life. pleasure to have you here. specifically what resources would you point us to, as a matter of fact, that you believe that are in control and pose a real threat? >> certainly rare efforts come to find. they have about a 90% monopoly on -- >> why does rob care about that? >> i mean, for a lot of reasons. one, you cannot build a suitable wind turbine, scale wind as a source without heavy rare efforts and a lot of military equipment is also dependant on heavy rare earths. you should really care about it because though it's on everyone's radar screen, no one is doing anything about it. i mean, this is what's really remarkable. there are rare earth deposits. we just opened a molc core mines. mines in order to be processed,
refined, et cetera, because it's a big deal and we don't have the skill sets in this country to do that. where do we send that ore to be processed? guess, it's china. china, not only do they have massive deposits of rare earths, but they are probably one of the few -- they are one of the very, very few countries that can process it. we have huge deposits of rare earth sitting in canada. no one is doing anything about them. >> can i ask you about it. >> isn't that a lot of that due to environmental regulations that we've got in this country? actually refining that stuff you irradiate the earth for years to come. >> and refining is a big problem and there's another problem. we did actually do a lot with rare earths. we don't have the engineers -- >> we closed those in california. >> we did, but now we've reopened them. >> did we make the decision that we would rather poison china than us. >> same way we put the paper and pulp factories in south america, poison them. >> as you know in malaysia there's a huge processing plant by an australian company that
didn't want to put it in western australia, goes forbid, there's nothing but wallowbies there. >> not a lot of good choices in this world where we sit. we're sitting in oil in the context of 9.1% oil in this country. brent oil is at $110 a barrel. if you ask any economist worth his salt 12 years ago, 9.1% unemployment in the usa, zero growth in the zur zone, what's the price of oil, he would have said $10 or $15. it's sitting at $110. there's not a lot of good choices, but the point is in this country, even if you got around the refining problems, even if you wanted to dedicate an island to refinement, we don't have the still sets to do it. this ore is radioactive, et cetera. we don't have the skill sets. >> i'm sitting here amazed by what i'm hearing, and a little frightened by what i'm hearing. >> you should. >> you actually should be. >> and is the problem -- what can the united states do? you just said we don't have the -- the united states doesn't have the talent.
we don't have people -- >> we have the talent. we just don't have the education. we have the people that can learn. >> we have people that can learn. >> but what you're talking about needs to be done now and we don't have people who can do what you're talking about. >> needs to have been done five years ago. not just rare earths, it's solar. we're so missing the boat here. look, there are two alternative energies in the world that really count, solar and wind. there are others, yes, nuclear, et cetera. >> geothermal. >> geothermoal, but the ones, that you know, are scaleable, are solar and wind. china has a hammer lock on these energies right now, and let me just sum it up why you really should be scared. we're basically fighting a war with china now and china knows it and we don't know it. there's been a lot of press built on currency manipulation, et cetera. china is raising their currency exactly when they want to, not when we wanted them. >> can i follow up. >> i'm sorry. >> what role does regulation play here in the united states
for allowing china or helping, aiding china to get this hammer lock on not just what you were just talking about, about everything? >> well, i don't think it's -- obviously in the rare earth area it probably has played some role, but those huge deposits that i'm talking about, they are in canada right now and in very remote parts of canada, and they are massive, except they are going to probably take billions and billions of dollars to develop. why not a manhattan project to develop this stuff so that it doesn't, you know, cause all this harm. i think if this country doesn't, you know, one word you've never heard mentioned when you hear all these debates in congress about austerity is growth. i mean -- >> that's true. >> interviewed the fellow, senator from vermont, i didn't hear one word about growth. china has a five-year plan. they are going to spend half a trillion dollars a year on new industries and mostly new energies. that means by 2015 they will have spent $2.5 trillion.
that's effectively what we spent on the second world war. they are fighting a war right now. >> and they understand that that war goes to shattering any dependency on energy resources. >> absolutely. >> because they know the ultimate end game is energy independence and as james woolsey likes to say when he comes on to talk about energy, the shattering of dependance on oil is central to the independence of this nation or any nation as sure as we had to shatter our dependance on salt 100 years ago where you were going to die if you didn't have salt. now you're going to die if you don't have oil. >> couldn't be more correct. >> and the bonus here is you create a lot of jobs. >> tonight of jobs. >> let me give you one quick statistic. the end of the second world war, our debt as a percentage of gdp was greater than it is now. what's the difference? the second world war, maybe inadvertently, obviously the focus of the debt was to win the war, and we won the war, but we also created an infrastructure that allowed us to grow for a
generation. today this debt has gone nowhere. let's focus on growth, guys. we're fighting china. let's -- let's get three or four or five manhattan projects and, you know, let's win this war, you know, not with guns. not with guns. with more people working. >> with ideas. >> with ideas. >> that's exactly what you want american leaders to be doing right now. you want congress to lead and propose. >> absolutely. >> the projects. >> want them to do it five years ago or ten years ago. i mean, china started planning for this back in the '70s when dung was starting all this capitalism in china, he was on top of this. i mean, he saw this kind of thing happening. back in 1998 when -- when oil was trading at $9 or $10 a barrel, china started their first oil company which was called petro china. ten years later it became the largest oil company in the world. i mean, these are guys that think not in quarterly or year
blocks, they were thinking ten or 20 years. i got interrupted, talking too much, but dung was talking about rare earths back in the '70s. yeah, the middle east has oil and we have rare earths. guess what china is doing in saudi arabia right now? they are putting solar panels, enabling saudi arabia to desalinate water with solar energy. now you go figure. i mean, they have become the biggest partner of saudi arabia right now. i mean, heaven forbid, once they get enough military might there, we're going to lose all clout in the middle east. >> meanwhile, you look at the american political debate, the american political debate doesn't include a talk about debt restructuring or a conversation about job creation and on the scale as it were, and the fact of the matter is the government couldn't create 30 million jobs. the creation of industries is the only thing that will create 30 million jobs and what you've said is we want the president to hire 30 million people. it's piercing the veil of innovation with that type of
thing that allows that sort of thing. >> it's win, win, win, only if we get the message. please, america, wake up. we're all americans. we're not republicans and democrats. we're all americans. let's wake up. >> time that we all walk away from lefty and righty and do forwards and backwards. >> forward. >> forward. >> there's some backwards in there but we'll try to go forward. we're all rather -- >> frightened. >> but i think at the same time pleased and awakened by your passion and the clarity of your message, and i suspect there will be others who will continue down this path. we compliment you on running into the town square and screaming. >> yes. >> do something, for god's sake. the book "red alert, how china's growing prosperity threatens the american way of life." imogen, john, rob, thank you. whether it's the china currency rigging or the corrupt functionality of our banking
system, all of it speaks to a basic sense of unfairness in the government and policy systems that surround everybody in this country, and for that matter much of the world. up this afternoon on dylan ratigan.com, a new episode of radio-free dylan, a podcast, this time a conversation with professor bill black and zuccotti park occupierser goldie and calvin of why theish us use of the day are not left and right but instead a conversation of taking the future of this country forward. next, get caught in a lie perhaps? you can blame it on your friends. it's not really your fault. i'll explain after this. [ groans ] [ marge ] psst.
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it to. study was prettycism. the groups were shown a film of police arrests and then tested on what they remembered seeing. now a few days later as subjects were brought back for another test, but this time the scientists fed the subjects a fake list of what other group members had said they had seen. hear say, if you will. the fake feedback led to 70%, 70% of the subjects to change their answers to the new lies just so they could conform with what the group was saying they saw. in fact, the social pressure to fit in is so strong that scientists found that it actually alters the gnu bineuroy of your brain, that your brain actually remembers not the event, but it actually remembers the fake event that the group wants to believe as if it was the event. so the next time somebody says that you don't mesh with the group, tell them thank you
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>> these wilderness environments are an increment of the amazon rain forest. >> i don't approve of bullying. i don't approve of bullying to the people on the estate. >> doesn't seem to be people against the job. the only one i see is this gentleman right here who i've never seen before until yesterday when he started screaming. >> that a taste of the action in the new documentary "you have been trumped." the award winning film follows real estate mogul and once republican presidential candidate to build a billion dollar golf course on a stretch of coastline in scotland and, of course, the ensighing battle with local residents who resisted hymn him. filmmaker anthony baxter picked up his camera and sought to track down the truth and at one point arrested by the local police. a pleasure to meet you. in a nutshell, what's the movie about? >> it's about donald trump
building a golf course, 1,500 skyscrapers on a site of special interests. >> isn't that what development looks like, what the future of the world is developing resorts and occasionally bulldozing some environmental areas to do it? >> when it's supposed to be protected and vital for scientists, according to the scientists to tell key things about global warming on this stretch of scotland, these sand dunes are unique. they are protected supposedly, but the scottish government was wooed by donald trump's promise that it would create 6,000 jobs across scotland but the leading economist from the london school of economics says that the number will be closer to zero. >> is what you're saying that this is equivalent of donald trump going, to i don't know, the amazon rain forest and saying let me clear some of the rain forest. in you do, i'll create 6,000 jobs, it will be worth it, that's basically what you're saying, right? >> it is, because the scientists say this area is the crown
jewels of scotland's natural heritage this. land is so important, and to bulldoze it and destroy it for the sake of a golf course for wealthy people to fly across the atlantic to play a few rounds of golf and then fly back again sends out the wrong message, and i think that's what people are so annoyed about, the wall street protests at the moment. donald trump is in the 1%. the 99% of people are very concerned about the effects of money and power on the environment. that's really what the film is about. >> it's almost a version of the platinum citizenship that we've been exploring this week that was really created, made official by tim geithner at the treasury because he set the different rules where one group of people gets unemployment and one group of people gets zero percent on their retirement and one group gets student credit and tim decides who gets that. if you're lo-to-look at a path to resolution, what is the resolution that you seek in the context of whatever the state of play is between this golf
course, donald trump, the people of scotland and the environment? >> i think you've got to listen to what ordinary people are saying. the trump organization put out a statement last night saying that the people who have been objecting to this golf course are a national disgrace and also saying that they are parasites, people who have been objecting. they feel very strongly about this. they don't want to see these areas destroyed for the sake of development for development sake. i mean, the thing is that this golf course was supposed to be costing 1 billion pounds, supposed to be creating 1,500 houses. donald trump announced just only a few weeks ago when he was in scotland that the development site for the hotel and housing was going to be put on hold because of the economic downturn so in fact what you have is a golf course that's being developed, an area of outstanding natural beauty destroyed for the sake of precious little. >> we called donald trump's offices for a reaction to your film and some of the things that you're talking about. they offered us a statement from their assistant general counsel
at the trump organization. this is from george sorial. our project in aberdeenshire, scotland is widely supported by the local people, the business community and political leadership. during these challenging economic times, our project has employed hundreds, provided tens of millions in investment for the region and will serve as an anchor for future economic growth and tourism. well, just a moment ago where i was in a news conference, donald trump said they are creating hundreds of jobs by simply planting the grass which the scientists say this is the worst thing you can do. >> planting grass in the dunes to keep it from moving. >> the scientists say they have to keep moving, that's the point, but the figures we obtained recently under the freedom of information act show only 12 unskilled laborers were planting the grass. >> first of all, the job is harming the environment by seizing up the dunes and the number doing the jobs is smaller
than what you've told? >> all along in this development there's claim and counterclaim. donald trump says all the environmental groups are behind the development and not yet one group we find seem to support it and there's a real problem there and people are feeling really let down by the authorities for letting this to go ahead. >> why would the authorities let it go ahead? >> wooed by celebrity and by the promise of jobs and by putting scotland on the map. when you think about it, scotland has been known -- 350 golf courses in scotland, st. andrews was build years ago without a bulldozer in sight. you don't need a fleet of bulldozers to come in and change an environment forever to build a golf course. >> if memory serves me, there's a pretty significant golfing history in scotland. wasn't golf invented in scotland? >> at st. andrews, the very first golf course. >> why would political leadership in the place that invented golf with 350 golf
courses built majestically over hundreds of years be persuaded by a -- a credit-financed real estate developer in america to allow them to -- doesn't make sense. >> it doesn't make sense. it's baffling. that's why i made the film. that's why i remortgaged my house and crowd funded across the internet to make this film. i think it's an important story to follow, to give people, ordinary people a voice, the people involved in the wall street protests at the moment. they are having their voice and the film here is -- is -- these local people who felt they were up against a wall that just wouldn't allow them to have their say. >> and, again, this is big than the occupy wall street issue. these are issues that are global issues that go to the resistance of the concept of the platinum citizenship model where if you have the money for government, can you do what you want and if you don't have the money for government you can bugger off, as they say. >> that's why i think we won the social justice award at hamptons
international film festival this weekend, the new york premiere of the film because the film really symbolizes this thing that we're all experiencing at this time. people feeling let down, feeling as if money and power is able to ride roughshod over ordinary people's lives and the environment without anybody taking notice. >> yeah. and it's clear, i mean, i think we're all experiencing that in different ways, and it's nice, i think, obviously -- i think everybody is encouraged as well to see all the different voices that are stepping up from so many different places and so many different identities, all to the singular principle of restaring fairness to wealth, power and peel. congratulations on your accomplishments. >> thank you. >> anthony baxter, the movie, "you've been trumped." come up on "hardball," after last negotiate's slugfest in vegas chris asks is this the best republicans have? but next, you may know 9-9-9, but ari tells us what numbers cain should be really paying attention to. hint, this is an auction, money,
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and now a daily rant from the nation's ari mel ber so worked up who could not be bothered to shave today. the floor is yours. >> must be very worked. >> i am worked up. tell you what i'm worked up about. as soon as i get, you know, the script loaded. >> the script for what you're going to say. >> i got t.herman cain, on the cover of "newsweek." the debates are about him, and you've heard everything about this 9-9-9 plan. also leading in the polls, but
there is one thing that the media will not tell you about herman cain. he cannot become president. i'm not talking about his politics or his book tour or his race. herman cain is not going to become president because he cannot raise the kind of money that it takes to become president. just look at the fund-raising for the most recent quarter. romney and perry are raking it in, and no one else is close. ever since the public funding for campaigns broke down in 2004, these races cost hundreds of millions of dollars. now there's no point pretending that a broke campaign can win. now here's a number you don't usually see. i calculated each candidates' fund-raising rate according to their popular support. take ron paul. for every point he has in the polls, paul has raised 2 million bucks because his core supporters are so enthusiastic. perry and romney are also doing pretty well, but cain is not. he raised only $130,000 for every point of popular support. now that's peanuts in presidential politics.
still, cain's technically tied with romney for the lead, and if anything i think his support is more impressive because he didn't buy it. but, he cannot raise the big money, and if cain holds this lead, you can bet republicans are going to start arguing that it would be political soon side to pick a candidate who, for whatever reason, will be financially outgunned, and they are right. after all, president obama is sitting on $150 million right now. but just step back and think about what this all means. we are now at a point where the inability to raise half a billion dollars is literally a disqualification for the presidency, no matter how popular you are. so there may be a lot of good reasons to oppose her mincain, but that's not just one of them. dylan. >> what is the money used for? we know now 94% of the time the person that raises the most money wins. we know our government is an auction pretending to be a democracy. you just made it very clear. why is it that 94% of the time the person with the most money
wins? >> because it is so expensive to run for president. >> what's the expense? >> they are spending it on television ads in, media markets and national race around the country. they are -- >> it's like in ohio, in -- >> when i worked on a presidential campaign, flew us out. >> paying for your plane tickets. >> got paid not a lot of money but hundreds and hundreds of staff, it adds up, and in a national campaign, right, even if herman cain is in the lead, he's got to go out and pick up the lead, he's got to have people go knock on doors. >> how is it that even 20 years ago, 15 years ago the cost of running a presidential campaign didn't come close to the numbers we now see? people were flying around to iowa back then? what changed? >> post-watergate you actually had a workable public funding system where both parties were participating in that, and it capped the overall spending voluntarily. that broke down in 2004. when people say it's always bad. people out on the streets, always boumpt a lot of