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tv   [untitled]    September 25, 2012 10:30pm-11:00pm EDT

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automatically the big picture i'm tom arbonne coming up in this half hour scenes of chaos and violence erupted today in madrid as anti austerity protesters clashed with riot police in that spanish capital how much more violence and brutality is going to take before world leaders finally wake up and realize that austerity is
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not the answer also it's bad enough that we have real live banks on wall street destroying our economy but it turns out robots are helping them we really want to let the machines crash the american economy or is it time to kick them out of the stock market and in tonight's daily take it's a historic day in america as casino mogul sheldon eight olson has officially spent the most money in an american election ever or at least so we think how can we stop adelson and his billionaire club from buying off more alike american elections and prevent this sobering spending record for mean roquette again in the future. in screwed news this was the scene in spain today as thousands of demonstrators clashed with riot police outside the spanish parliament in madrid there were reports of fifteen arrests and six injuries today's demonstrations were planned in
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advance by a number of activist groups to fight back against another round of austerity cuts that are guaranteed to strangle the spanish economy and clips cuts to pensions cuts to social services and layoffs of public workers spain already has the highest unemployment rate in the eurozone and later this week the spanish government is expected to release its budget for next year one of the primary protest groups known as coordinate twenty five dash s released a statement that a reading democracy has been kidnapped and twenty five september we are going to save it we believe that the time of the decisions made by a few is over we have the means and collective intelligence to decide and build the society we want other demands from the protesters include dissolving parliament and a referendum to let the spanish people themselves decide on the austerity agenda now joining me for the latest on what's going on just across the atlantic is maxwell coniston instructor with
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a graduate program in international affairs new school university max welcome always my pleasure thanks for having more welcome back it's great to see you again you know i should have said the spanish people deciding themselves on austerity or not isn't there a strong. current in spain right now that is echoing what has happened in france and saying hey wait a minute you guys are crazy we need to stimulate this economy not kill it. yeah absolutely and we can add portugal and greece to that list we're less than forty eight hours from what promises to be a large and probably very contentious general strike in greece we saw a mass protest in portugal the spanish protests we've been seeing for some time but the ones you're reporting wisely today are much larger than we have been seeing we have a twenty five plus plus percent unemployment in spain that's higher than america had during the great depression and we probably have about fifty percent youth unemployment and what's bringing those people into the street and likely will continue to do that is the death of
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a way of life or death of some kind of social support of a large middle class and of opportunity for young people and that's very much a question that will be on the ballot on the sixth of november in the united states as well yeah i actually the follow question that immediately came to mind is if this is working so badly in spain an increase in italy and portugal ireland why is it that the republican party is pushing is so aggressively in the united states and how come people aren't you know squaring the circle how come people are putting to pick your cliche how can people are figuring it out. i mean partly the united states has a long and sort of unfortunate history of not trying to look too closely and learn too much from the experience of other nations and that sort of maybe summarized in this notion of american exceptionalism that we're so exceptional that we can't learn won't learn and aren't similar to other places you know the thing is i don't think it's real until it hits you can see that spain too with the recent election of a more conservative group of legislators for a lot of folks this stuff isn't real until the layoffs calm until the wage cuts
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come until the demonstrations of course it's a little late at that point but better late than never i don't think people fully understand what the sort of balance the budget in response to economic downturn looks like but if they want to see it we know that from history because that was the hoover attempt in one nine hundred thirty and thirty one and i think we all know that that didn't and all that well if you if you really only need to learn the lesson from america's history as opposed to other nations now wasn't hoover's trekker treasury secretary andrew mellon correct me if i'm wrong who echoed mitt romney's conversation about the auto industry and the housing industry liquidate labor liquidate the markets liquidate i forget what the list was you probably know yeah i mean the notion there was that there's a natural healing tendency which may or may not be true and that if you let everything fall apart the market the price incentive the free will of enterprise will rebuild and while that may or may not be true perhaps the best retort to that came from keynes of keynesian economics fein which is that it may work in the long run but in the long run we're all dead but on the other question which is very much
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evidence spain right now is whether you can have social and political cohesion in the midst of the kind of suffering that that policy trajectory guarantees you and spain is quite literally under the threat of falling apart you have provinces threatening secession right now so it's a very good case study in what happens to the sort of social cohesion under the enormous stresses of high and persistent unemployment of a double dip recession for the second time in three years yeah i was i was in barcelona last year and they can they catalonians are there they've been talking about it and not to. mention. the you know that whole in any case if france earlier this year france screw this we're going to like the socialists and everybody you know from the financial times on was all saying france is going to fall apart and then we have left maxwell house how's it going for france and france is actually doing relatively better i think a lot of people in the us particularly have the notion of france as
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a sort of archaic museum with good wine and cheese but it's actually the fifth largest exporter in the world we haven't seen the forecast economic collapse much the way we didn't see that in brazil when lulu came in we were told that would happen or a whole bunch of other places with the icelandic decision etc it turns out that if you can bring your people with you in a difficult experiment whatever that experiment is if it has broad support it's inclusive and people can see a path forward to a better tomorrow they'll hang in there and if they don't and if you apportion suffering in a very top down manner they won't hang in there they'll be social unrest and the matter what you think the best economic policy is social unrest riots. doesn't work yeah absolutely max wolff brilliantly again thank you so much for being with us always my pleasure thank you great to see you again. in other screw news robots have taken over the united states' stock market and germany is now taking measures to prevent the same thing from happening there high frequency trading makes up as
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much as seventy per cent of all the activity on trading markets here in the united states those trades are made by computers by machines load it was special programs algorithms and instruct the computers to buy and sell stocks at the speed of microseconds millionths of a sack and this sort of trading has proved dangerous when machines fail as happened in the may two thousand and ten flash crash when the stock market plunged ten percent in a matter of seconds germany is such to approve a new law on wednesday that would limit. the activity of high frequency trading robots and is encouraging the rest of the european union to do the same thing because one of the best ways for the united states to kick the robots out of the stock market is to pass a financial transaction tax like the one championed by the occupy movement and recently proposed in congress by democratic representative keith ellison by levying just a tiny fraction of a percent of attacks on every single stock trade high frequency trading robots will
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no longer be able to make tens of thousands of trades a second as they currently do in our financial economy will be vulnerable to computer glitches or market manipulation by robots seems like a no brainer so why hasn't this law yet been passed joining me now is tonya markey founder and president of team investments tony welcome hi thanks so much for having me back thanks for joining us thanks for me back with us do you think high frequency trading robots are dangerous to the market as i've suggested well what i really think i'm going to read you a couple of quotes but what i really think is that it's not a tax on the bank or the financial systems it's really a tax on the pension plans and our future and that's terrible i mean the existence of these robots themselves is a tax on our pensions and our futures absolutely you know when you look at max said it right before me we're not looking at what's going on in other countries they've
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already implemented this in europe and it doesn't work mabee pala the secretary general of the european federation for retirement provision said a tax that tries to shoot at everything that moves will most likely not hit the intended target but will kill or wound many innocent by standers this new tax would disapprove create we impact pension funds and other institutions which provide retirement income and we talk so much about retirement income but unfortunately we really don't look at what's going to happen to the few. sure of their retirement this tax will hit them hard so you're saying that the securities transaction excise tax what was called a step tax in united states from one hundred thirty five until one thousand nine hundred sixty four during that time that we had it is actually a bad thing i think it's terrible i think that actually it's the robin hood tax again stop taking from the red and giving to those less fortunate let's figure out how they were on the hood tax come on come on tanya this this tax was put in place
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in one thousand thirty five by franklin roosevelt to pay for the cost of the securities exchange commission which he invented he created he put dba joe kennedy in charge of it with the with the joke that you know it takes a thief to catch a thief that tax started generating so much profit that in one thousand sixty four lyndon johnson did away with it who was making far more than what the c.c. caused but during that period of time from one thousand thirty five to sixty sixty four we didn't see a single major rupture in the stock market it was a relatively steady climb and now we're seeing these flash crashes were seen ups and downs and explosions and all over the place how can ken does literally a dozen twelve people on wall street who earn over a billion dollars a year by having a fancy computer do a million trades a second how can that possibly benefit anybody other than them so here's what's interesting you and i can analyze this however we want to we could look at it ten ways to sunday let's look at facts of what you want to wait wait i'm giving you
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facts now because the bottom line is they did it in europe and the dutch central bank so this isn't my opinion or your opinion the dutch central bank study shows that over forty percent of the f.t.c. would be bored by the pensions and the retirement savings so you're hurting our elderly again by importantly only if the pensions in their retirement savings decide that they're going to engage in flash trading if they're going to do a million transactions a second if they invest in a single stock or a million dollars worth of a single stock and they hold it for a year what they're paid is a is in. significant in this is the way it was from thirty five to sixty four it was a rollover when he noticed it but tom again you're giving me your opinion on what no one giving you the facts no i'm giving you facts the other for i'll give you more facts because i know you know i like facts right so only nine out of twenty seven european union countries supported the f.t.c. so you're telling me all these things that of why it would be good but they've already had that you've got
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a lot of countries where there are other governments or are under the control of the banks to yours but i. didn't mean to have the last word there i just got a graphic here i'm sorry we've got to wrap it up in march roy hopefully we will have this conversation again thank you so much for being. coming up the national football league is one of those storied icons of american culture and a favorite pastime of millions of americans but suddenly with the n.f.l. referees locked out the game is quickly losing its credibility and its respect is this ongoing to bottle showing all of americans the importance of the union.
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admission and free credit take three days for charges free. range month free. free spirit type free. old free broadcast quality video for your media projects a free video dog hearty dot com you. just. it's.
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n.f.l. fans around the nation especially in green bay wisconsin today are sick and tired of a scab replacement referees brought in to replace the locked out n.f.l. referees week three of the n.f.l. season proved to be a turning point the referee labor struggle as replacement refs blatantly blew a call at the end of monday night's packers vs seahawks game which gave the seahawks an undeserved victory as play by play analyst mark tirico said after the blown call and the mayhem that followed on the field this is the most bizarre sequence you'll ever see at the end of a game but this isn't just about football it's about a labor struggle and it's about referees getting the pay they deserved in
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a league that generates nine billion dollars a year and even if you don't care about football you should care about what's going on here and elsewhere around the sports world when it comes to labor disputes joining me now from new york is sara jaffe labor editor with alter net and allison omens director of media outreach at the a.f.l. c.i.a.o. hi allison. pleased to have you both was sarah what's going on here in the sports context and with regard to the n.f.l. this is a lockout not a strike right this is a lockout not a straight grain and i think if we get through this we have more americans knowing what a lockout is at the difference between a look at mr i'll be really happy though i might be out of a job now kidding i will always be in a job because nobody will ever actually begin to step out so what's happening is there are regular refs are locked out because the league doesn't want to essentially the sticking point right now is a pension the league wants to take away their pensions given for
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a one k.'s which is a familiar story right now for a lot of american workers who are having your defined benefit pensions taken away and being replaced with a four zero one k. plan that's depending on the stock market which as we know you know is up in the air whether you have that money or not you know it and this is this is a big deal for the n.f.l. both i mean there's there's a serious labor issue here but there's also i mean this is what we've seen in. in industry after industry after industry through three generations of americans being ization was really legalized and thirty five with the wagon or act in the national labor relations board is that when scab workers come in stuff doesn't get done right yeah and i think that that's really what is so interesting about this moment is that you have the american public you know you can have people like scott walker who are saying bring back the real refs after last night's packers game and but what's really what this is really about is that we're not respecting people's work and recognizing the value that unions bring to creating solid
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valuable important competitive work and so you have these referees these replacement refs who are clearly making horrible calls not being effective at all and it's a very good and high profile but certainly not the only example at all of you know this just complete greed by corporations and by these folks who can get away with that and locking out people who have trained long and hard to do the work as effectively as they can work that actually affects people's lives i mean their their design their training to catch things like traumatic brain injury or prevent those kind of things from happening. where do you see those go and do you think that the refs are going to. have a long history reagan busting patco was probably one of the earlier and first examples of the real beginning of the war on labor. where do you that where do you how do you think this is going to play out particularly now that you've got you
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know right wing anti-union crazies like scott walker same bring back the union guys yeah it's pretty funny i called my dad this afternoon just to say hello and told him what i was doing later this evening and you spent twenty minutes ranting at me about how ridiculous it was that they needed to bring back the real refs and just pay them and it's a tiny portion of their revenues that they're talking about here but the thing is you mentioned safety and that's really where i'm afraid this is. the players' union has been making noises about you know they're very concerned about their safety as did morris smith from the players' union said today we're not a product this is not just a commodity on the field these are people's lives helmet to helmet hits without penalties that's really really dangerous and i'm worried what's going to happen is that this is going to end when there's an injury to a star player or to not a star player to anybody and that's what's going to finally lead them to bring back the real refs and it's it's a scary thing to watch or rather to not watch i will watch sunday night i saw it on
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the field and i and i my first thought was you know you know i wonder if the rough could have in a case. where. the the role of organized labor and to what extent do you think that the union is going to hold together the refs union or might you know i mean we're talking a multi-billion dollar industry you've got to own you've got a two billion dollars liquid assets to own the team this is this is you know the wraps up against the literally the biggest behemoths of america i was going to play oh well you know i think that what you're really seeing is people are coming together everyone who relies on football as an industry you know folks who are in the cities where these stadiums are people really believe that we need to support the raf's and that we need to come together and you know be play the game the way that it needs to be played and protect the people who are actually like sarah said on the field in pretty dangerous situations you know in terms of organized labor
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and sort of the labor movement were really standing up and saying that this kind of greed is absolutely unacceptable and you know everything from the n.f.l. and the lockout there but you know there are a lot of examples from this crystal sugar workers are being locked out in north dakota they processed sugar so we really need to put shine a light on that all over the exactly well so that alice and sara thank you both for being with us tonight. much appreciated. there graduations to sheldon adelson the caliph excuse me the casino mogul who's made a fortune in china and is now the record holder for the most money spent in an election here in the united states at least that we know about according to politico adelson has funded seventy million dollars to the republican party so far this election
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more than tripoli in the previous record of campaign spending by any single individual and while adelson hasn't shied away from the spotlight and is in fact proud of his attempts to buy the election for mitt romney there are a lot of other right wing millionaires and billionaires in the shadows who are also spending huge amounts of money that we don't know about you won't hear their names you won't see their faces but they're sure to have a profound effect in november if not on the white house than on the congressional and senate races across the nation and we can thank the supreme court citizens united decision in two thousand and ten for making it possible. according to a new report by the sunlight foundation more than three quarters of the four hundred sixty five million dollars in outside spending so far this election would have been a crime which people could go to prison for before five right wingers on the supreme court in their lopsided five before citizens united decision decided the billionaires and corporations including corporations that make their money in other
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countries should be able to buy american elections super pacs those political creatures spawned by the supreme court's five to four decision have dished out two hundred seventy two million dollars so far on this year's election and trade organizations and nonprofits according to citizens united don't have to disclose their donors as founder of the ninety three million so far that we know about the forces of organized money are messing around there are mean up and they're hell bent on winning this election for the billionaire class and their transnational corporations and the only thing standing in their way with a month and a half to go until the election is you and me we the people it's organized money versus organized people now i know it sounds daunting how are average working people supposed to compete with the corporate elite willing to spend billions of dollars to defeat progressives across america now that the first two major elections and citizens united organize one money one easily beating people
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organized back in the two thousand and ten midterms and then winning again in the wisconsin recall election earlier this year make no doubt about it the cards are stacked against us but now is not the time to despair now is the time to get active that's because organized people just secured a significant victory not here in the united states yet but just north in canada and we can learn a lot from how they want. since last year students in quebec have been taking to the streets to hold massive rallies against proposed college tuition hikes the government of back tried to squash the demonstrations by passing an emergency law a known as bill seventy eight that would have restricted protests on campuses and outlawed any demonstrations by more than fifty people who didn't have proper permits eroded backing down more students went into the streets they had a clear goal and message they weren't leaving the streets until the tuition hikes
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were reversed the protest went global and took on the name of the maple spring in the students one. last week with bricks incoming from here and now she is canceling plans for the proposed two issue hikes the incoming government will also repeal bill seventy eight a law that would have criminalized the protests president of the largest student union martine deja dean claimed total victory after the announcement and went on to say quote together we've written a chapter in the history of quebec it's a triumph of justice and equality journalist and author naomi klein weighed in on it too tweeting this is why radical movements are mercilessly mocked they can win and its official quebec tuition hikes are history as gandhi perhaps apocryphally said first they ignore you then they ridicule you then they fight you then you win that's the power of nonviolent mass movements that's the power of organized people
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which brings us back to the united states organize money is in control there's no control that is no question about it our government our media our economy we've all been hijacked by the corporate elite but i still believe electoral solutions are possible because i still believe that organized people can prevail as they always have often against what seem like impossible odds on the battlefield of american democracy. but that's only if we join together and get organized in the streets on the web and in a way that the media can't ignore that's only if we pick up where occupy left off moving people forward with a focus message let's face it politicians are out leaders their followers they follow the money now the most conspicuous example is how the republicans follow a show of sheldon adelson and the cokes and how mitt romney refuses to reveal who's funding his campaign but the trick is to make them follow the people again make
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that an able to ignore our demands and the only way to do that is to do it students in quebec to get out of the streets on the web and in the media including engaging in nonviolent civil disobedience it is after all the american way and it's brought us everything from abolition to women suffers to civil rights we might not win this election but if we can start pulling tens of thousands hundreds of thousands of million people into the streets and then i guarantee politicians will take notice and some of them will run in front of that mass movement and lift the flag of the movement and say this is mine these are the people i am representing in government that's the way organized people defeat organized money that's not only how it happens in the civil rights movement here in america it's also it how it happened interest in egypt and it will happen again here in the united states once again if we just stay organized and act and that's the way it is tonight tuesday september
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