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tv   [untitled]    May 12, 2012 3:30pm-4:00pm EDT

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good to have you with us this is. the government's program of tax hikes and spending cuts and we'll bring you live pictures of those demonstrations taking place right now in the spanish capital madrid. eurozone greece's major differences. with the president leading. rallies in support of hundreds of palestinian prisoners on hunger strike in israeli jails face brutal crackdowns by the israeli military with the youngest. bearing the
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brunt. and us students facing a lifetime of. struggling to find jobs. the true cost of their education. well that's it for me the news team for the moment will be back with more news for . the latest edition of the report. max kaiser this is the kaiser report yeah everything's getting more consume the dated the too big to fail banks are getting even more too big to fail this applies to bureaucrats around the world as well consolidating their powers stacy ever tell us more yes max that's true and guess what we're all like that girl did you see in the dragon tattoo wards of the state and my headlines today the french
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chose a new president will the euro krauts let him do anything there is no more real president of france that role has been taken largely over by the european union commission of brussels like all twenty seven member states france is now under what european commission chairman jose manuel barroso calls the new european system of governance this is comparable to what happens when an individual is judged to be incapable of managing her affairs and has made a ward of the legal guardian or of the state little by little the e.u. commission is taking on the role of legal guardian of the economic affairs of the member states you know the girl with the dragon tattoo i remember that film she was a ward of the date and what you're saying is that in france doesn't matter who the president is they are simply being taken care of by the bureaucrats in brussels who in turn are being taken care of by the technocrats in some other country who in
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turn are being taken care of by the kleptocrats in washington and on wall street in the city of london they're all being taken care of by the fabulous banking cartel and they're doing such a bang up job of it and the other thing to remember about wards of the state. are some our favorites by the abuse of state or the legal guardian to be abused so in the case of the film the girl with the dragon tar tattoo she was horribly abused by the man who was supposed to be her guardian on behalf of the state and there are certain countries if you look at europe of course greece is horribly abused by its legal guardian yeah well i think that's a good point that the the wards are being abused like the character in that film the girl the dragon tattoo and we see this all over the world so this argument that well the greek people brought this upon themselves or even the american
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homeowner brought this upon themselves by taking out mortgages is a false argument because everyone has become the ward of the various states and then this state or their caretaker is unmercifully beating them in some kind of dry coney and you know poor house scenario and this is being played out around the world now let's turn to some more wards of the state to charge exposing america's record shadow welfare state. this is from zero hedge one hundred of fifteen thousand new jobs were added but the jobs number was about half of another far more important number that of americans applying for disability which in april was two hundred twenty five thousand in total more than five million people have been added to disability coverage since president obama took over three years ago and here's a quote from david rosenberg some numb nuts chief economist of some saki outfit or
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other so look either safety standards that work have eroded dramatically or the ninety nine percent has found a creative way to milk the system and turn the economy into a quasi welfare state when he's employing there is that not only are people wards of the state. but not him. voluntarily they've been subjected to this kind of financial imprisonment but then the state and the banks they force them on to disability effectively making them act like a like a person who shoes are unable to have use of their limbs to to to get your money from us the state for their amusement so this is where sadism mixes with entertainment so that the bankers not only do they enjoy torturing these poor people but they want to get their entertainment value by watching them squirm and beg and pretend like they're disabled in some way and exactly and so you know i
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looked up last night what the average disability payment is and it's actually very very very very difficult and a humiliating process to acquire disability benefits but your payment is determined by how much you've paid into social security system so it tends to be older people remember we do have loads and loads and loads of baby boomers all retiring this could be quite a number of baby boomers say in their sixty's sixty sixty one who are too young. to qualify for social security payments but are too old to find a job in today's market but the basically the disability insurance payments average about a thousand dollars a month so here's david rosenberg calling the welfare queens when what is he called jamie diamond or lloyd blankfein who receive that in a second you know one can imagine david rosenberg kids around the dinner table having to squat like
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a chicken and pretend they're there is some dresser being tortured before they get any any portion of peace and there is rosenberg like squeal like a pig you little children old before you get any of this food well let's move on to inheritance then you brought up children a web of privilege supports the so-called meritocracy this is from gary young writing in the guardian and he's looking at the scandals emerging around the world well particularly in the u.s. and u.k. and how it exposes a web of privilege that is passed on from body to body by the very people who are then turning around and telling the electorate that get a job dance do something for me you know if you can't get a job then you know do something humiliating and i'll give you a few crumbs from my table so he says on both sides of the land the social ties that bind our political legal and corporate forces law exposed shortly after mitt romney's failed two thousand and eight campaign for the republican nomination his
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son tagg set up a private equity fund with the campaign's top fund raiser one of the first donors was his mom and next came several of his dad's financial backers tag had no experience in the world of finance but after two years in the middle of a deep recession the company had netted two hundred forty four million dollars from just sixty four investors tag insist that neither his name nor the fact that his father had made it clear he would run for the. presidency again had anything to do with his success he told the new york times the reason people invested in us is that they liked our strategies well it's the word is nepotism and it's the only functioning part of the economy left which is the aristocracy is in full force they bowed to the monarchy on wall street and everyone else is reduced to serfdom so nepotism is alive and well it's not an honest day's work let's be clear about it
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tag you're not working for a living you're just sucking on your daddy's teat which is shameful in an economy like america where they're supposed to be a meritocracy but that is alone grown yes indeed max is long gone and it's far far far far worse than that nepotism what you're saying is nepotism that's like saying oh it's nepotistic that prince william will one day inherit the crown you know it's something else that's the divine right of a certain class of people and they get no matter what they can't fail and i was there that he then moves on to what the leveson affair has exposed in the u.k. regarding murdoch and all his sons running his empire david cameron and his close relationship to rebecca brooks who is married to charlie brooks david cameron's buddy from eton and the one job david cameron landed in the private sector during his entire life mox was arranged by his wife's mother lady astor who was friends
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with michael green then executive chairman of carlton green gave cameron a starting salary of ninety thousand pounds remember him access is only job ever in the private sector he landed at ninety thousand pounds he has no more had to stand on his merits than james moredock had to interview for a job at news corps yeah it's beyond nepotism isn't it as you point out as this divine right of kings syndrome that gives these people this idea that they're doing god's work so in a lot of ways they're no different. and the taliban who believe they're doing god's work which is why they make so much money each group fighting each other in fake wars the purpose of which is always to disenfranchise the bottom ninety nine point nine percent let's focus on what is important here here is david cameron he is forcing upon the population austerity and he david cameron who is associated in this leaves a scandal with all his buddies who in the bolton club that they have been handing
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each other gifting will tell their not only money but also the jobs and also press propaganda they have never had to work a day in their lives and they're the ones that have this access the same buddy system the same error socratic buddy system applies to the central banks central banks give money as ear oprah cent we all know interest rates are at zero percent we all know that there's quantitative easing but what i'm telling you is this is controlled by the monarch's of the central banks we have who are thinking we have ben bernanke and we have them giving their friends money for free and their friends like jamie diamond and lloyd blankfein and brian moynihan pretend that they have an inherent better working ethic and they are better workers and they're better innovators and better creators than all of those unemployed people out there
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on those welfare rolls those ninety nine percent on the disability benefits well yes this is the arc of history stacey the last two hundred years or so when that was different than medieval aristocracy and monarchy was the exception to historic norm we are reverting back to situations where david cameron and his click of insiders can print money or steal money as the doing of states or trade on inside information. market manipulation and they call that productivity they make outlandish bets when they lose they steal from the bottom ninety nine point nine percent and call that a sturdy that's the model we're living in now we're going to go into the summer olympics olympics we're going to they should really make it the front olympics and david cameron should be in the pole vaulting event where he's pole vaulting all over all the rules and regulations clearing the bar against sanity and landing into
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a big monish pit of free money given to him by his royal aristocratic friends who simply stuff money in his pocket for favors that's david cameron we knew that when he was voted into office he's a tough he's easy this is only good for finally here number of ph d. we sippin so using food stamps serves during recession says report so now this is important to put into context of paul ryan's new budget where he slashing food stamps and saying well we're going to reallocate some of that money to help and encourage people to go to university ok so the number of ph research on food stamps and other forms of welfare more than tripled between two thousand and seven and two thousand and ten just thirty three thousand six hundred fifty five the number of master's degree students also tripled overall the number of americans on food stamps was forty three percent over the past three years to forty six point three million americans as of february two thousand and twelve all of these factors plus a less than stellar job market force many ph d.'s to work in menial jobs there are
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five thousand and fifty seven janitors with ph d.'s according to the bureau of labor statistics so again max i bring this back to the girl with the dragon tattoo she fought back she took down the government that backed her abuser we remember that you can do it too fantastic i hope you give me a ride on your motorcycle state's airport thanks so much for being on the kaiser report thank you x. don't go away stay right there. much more coming up.
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welcome back to the guy's report imax guys are time out it started john titus who is featured in the new documentary bail out opening in chicago on may sixteenth at the unified state or in chicago the documentary features interviews of chris whalen a smith dylan ratigan noam chomsky and others now let's turn to a clip of the film the fear mongering began when when paulson showed up before congress i mean he had a gun to america's head and he said if you don't give us the seven hundred billion we're going to wreck the financial markets that's of the banks have an america that's been. to the end of twenty ten the financial institutions have been handed
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two point eight trillion dollars of money from the american taxpayer this is jobs this is growth we're taking six to seven hundred billion dollars a year out of the hands of consumers to subsidize the balance that's what the because low interest rate. it is enough to make you want to lose your mind when you understand the mathematics it's like me fixing your pinky when you've got cancer oh right well looking fantastic there let's talk to some folks involved. film john titus you quit your job as i highly paid lawyer and made this film bailout tell us about it what so important about the message of the film that you simply had to make it well the coverage of the financial crisis in the u.s. hasn't told properly we didn't think that there was really no narrative holding it together it's couched in terms of complexity and excess levers and all sorts of jargon that no one really understands when the reality behind the financial crisis
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here is that it's one of fraud every minute perpetrated by wall street on main street that you know wall street is essentially stolen money from main street and that's really what's hobbling the economy here and that story had been told yet so we set out to do that on film. is a crazy story in and of itself because they were telling people we need ten billion survive and twenty billion and one will be ok when all was said and done they had a six hundred billion dollars hole. hole goalies is to attempt to allow these banks to earn their way with time and with gifts from the federal reserve with quantitative easing and. and purchasing the bad assets allow them to her on their way back to solvent c. and it's not going with the problem this is of the people we're paying to the losses are coming from shareholders and from the public it's like coming from the management of the bad only a few people knew it was going on and only those same few people were the ones who
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were collecting him to this day collect hundreds of millions and billions of dollars a year of personal compensation all of which i believe should be fought that increasingly need us they can claw back selling this debate takes a while but the banks will do anything to avoid getting that money clawed back even cook their books. the bottom line here is accounting fraud is now wall street's business model well this is something that most people overlook or they don't want to look at it because it would begin to. unravel a series of connections in this fraudulent ponzi schemes that went all to merely refer back to themselves isn't it true that everybody is complicit in this fraud to some degree and looking in the mirror is simply not going to happen in a country like america that's based entirely on financial fraud well depends on what you mean by everyone and if you look at the ordinary americans for the most part they're disengaged and i think to the extent you can get ordinary people
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engaged but laying out the bare facts of what has happened then they will rise up and protests what has happened in this country which is that main street has been fleeced by wall street and as far as complicity you are correct this of fraud the stuff could not have been perpetrated but for the complicity of various people high ranking people in government so that much is true now in the film but dylan ratigan uses my phrase thank you down financial terrorism as a lawyer form a lawyer do you think this is an accurate accusation of what we saw in two thousand and eight yes that is an initial matter and i used that phrase myself in the question in fairness to dylan but yes it's financial terrorism and it is simply threats i mean everything is couched in terms of threats the word systemic the
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phrase too big to fail these these types of things are nothing but threats to government officials saying do what we want or you will suffer grave consequences right well beyond being a threat of course it's an actual all exploding financial device that takes lives in the case of grace around and around the world these are these are murderers let's keep that in focus now aside from all the interviews you cross the country on a road trip in this film tell us about the population what they. and about the financial collapse who are they blaming for the most part the bankers and what we found is that you know a lot of people understand quite clearly that they've been wronged by wall street they may not know the particulars of it but there is no mistake in the part of people on the wrong side of the financial crisis that this is not some accident this is an act that is quite deliberate and that is the source of anger for
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a lot of ordinary americans and that is exactly what we found on the trip and tried to capture on camera now if you plan on traveling to europe for the sequel battle out to in the past weeks we've seen a voter backlash to the extreme austerity measures in europe to bail out the banks compare the response in europe to what you see in america i know you haven't been in europe done the traveling yet but from your observation so far clearly what the uprisings in athens and elsewhere are how would you contrast the two from what you've observed so far john well what's going on in europe is really you know one or two years ahead of what's going on in the u.s. and i told sharman we got into this project if you want to know what's going to happen in the u.s. there's a keep your i agree a greece people they're waking up and they're rising up against basically a captured government that acts at the behest of bankers and blames everything on
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debtors rather than the creditors who made these bad lungs and then that's largely the narrative of this prevail here for the u.s. in the u.s. so far which is that everything's the fall of the you know naive borrower and everybody overlooks the complicity of the guilt of the sophisticated creditors with all their data in making these bellows to begin with so europe is is ahead of the u.s. . in terms of understanding what's going on with the crisis however the european press does a far better job of covering the crisis and is covering financial markets then does the us me yeah well exactly as you point out the the emphasis has been to blame the the debtor of the equation in this mortgage fraud and it's blank fines you know defenses that he's saying as a rapist as a financial rape is he saying well she asked for it you know that's his defense
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which isn't going to play well forever i mean it's at some point there's going to be some justice now let's talk about arlen for a second the i.m.f. loan was almost entirely to cover the cost of one failed private corporation anglo irish and yet even here it is the austerity victims of the international banking crimes that get the blame so once again the financial rapist is blaming the victim have you looked at ireland very closely and do you see that because they've been somewhat quiescent in this not quite like the greek counterparts they seem to be somewhat quiet do you think they'll be an awakening there anytime soon well if i recall correctly about a year or two ago the ira in ireland it got an abort. the bandwagon against you know these fraudulent bankers who had straggled the economy and then at least over the u.s.
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at least kind of lost track of that and now it seems like it's the that is coming back. into the fore so i you know i'm really frankly kind of confused about what's going on our own it seems the ebb and flow over there the public awareness of what the true forces that are work by the crisis well i think that would be an interesting question to explore when you come to europe and you travel through ireland you hopefully can talk to folks in the ira and ask them what their take is and i know. as you point out they were making some some some announcement some proclamations a year ago or so they've been pretty quiet and fein is a gathering of votes in ireland and we see this another trend in europe we have the votes are increasing and the parliamentarian participation from the extreme left the extreme right in greece they can't form a majority government this is in france they now have a new socialist government so on the margins on the political scene they are you
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know these alternative political voices are making inroads i am struck by the inability let me just change gears for a second john the occupy wall street movement of course is that it is directed toward wall street but wall street's crimes around the world are not necessarily most egregious in new york area and the wall street area they are most apparent in countries like greece why this my question john why wouldn't a few thousand of the occupy folks simply go over to athens and set up camp in athens because that's the front of the global insurrection against the banker occupation is in athens right now why don't we see new yorkers an occupy people from around the america setting up shop in athens right now to fight the banking terrorist why doesn't that happen in your view john for the simple reason that i
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think occupy still trying to find its footing i mean they're still in process of debating and discussing what's gone on trying to figure out you know what the occupy movement really means i mean during the fall of two thousand and eleven it was directed to wall street then winter came there was a lot of silence a lot of discussion and now it's come back in the movement seems to be if you can call it movement really yet. directed in a lot a lot of different era. it is so i think until the occupy people sort of center in on one or two or three platforms or issues that you really it's really a little bit premature to conceive of people from the u.s. occupied be from the u.s. going abroad to say to see how it's done as you might put it all right finally john titus your film bail out what do you want the audience to leave with what message
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did they walk out of the theatre having been exposed to and what should they be thinking about simply that this crisis really isn't about too much leverage it really is about greed or speculation or any of that nonsense it's really simply about fraud and ordinary americans main street has been defrauded by wall street six ways from sunday and it's no more complicated than that and this notion that everything's complex and two are to understand is a bunch of rubbish is a very simple story and that's what people should leave this all right time john titus thanks so much for being on the kaiser report good luck with the bail out thank you max that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i want thank my guest john titus is film his bail out opening at a theater near you try to send me an e-mail place to so at kaiser reported r t t v dot ru until next time x. guys are saying by all. around the.
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