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tv   [untitled]    February 14, 2012 6:18am-6:48am EST

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g.n.p. if you have any business with iran whatsoever you will not have access to american banks to american corporations to be american market this is in fact a blockade. well russia's league of voters is demanding that the country's cycle t.v. channels drop their alleged pro putin bias that's ahead of norse's presidential election well the leak standing for a fair election doesn't like a positive tone of reports about the prime minister saying it undermines others' chances but authorities very approach cover reports every candidate makes good use of their a lot of time. you know right now really good case he did so for the most eccentric video in russia's presidential campaign urging to vote for the country's top populist bloody midget in office in famous for his showmanship and occasional fist fights with fellow gold make his. civil. suit that this little
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mangy donkey has become a symbol of our country the whole country has gone to a standstill like this animal if i become president we'll get moving again. less than a month to go and five candidates have blasted the streets with election posters dazzling view is what t.v. promo's heated discussions have become part of everyday life. by dark horse in the race the billionaire businessman mikhail prokhorov promises their arrival of a new russia president known for his quite riches and playboy past he is the only new face on russia's political scene formally and a tory as party animal his reputation was once dented by an international sex scandal which has come back to haunt him on the lead we are ready to help you with all our body and soul as for the elections will win them anyway you can buy anything so you can buy your victory to the remaining candidates are family
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a crowd united one of the all time communist party leader has always relied on the pension of voters who form about one third of russia's population now his laurels are contested by said the middle of from ok russia quality is the notion that you can't even afford to milk whether pensioners. the competition has made you gonna reach out to younger generation and offer them a brand new slogan there's always a choice bloody minute but in the running for his term has refrained from getting involved in a campaign directly he has controversially refused to take part in any t.v. debates sending. representatives instead and his promos never show his face. when he doesn't go to television when he is a part of st paul attacks where he is a part of television coverage our job as prime minister he is there is the only one with a baby only candidate with so many resources so much media attention i think that
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he wants to show that he is the only real candidate precisely by not going there as the campaign picks up steam it's expected so will the number of street protests both for and against britain and its likely election twenty twelve will be remembered as one that's got russians on their feet all of the latest opinion polls also show the level of putin support across the country despite the wave of opposition protests i think the process turned to more voices corlett through because when people. are saying that you know that social benefits would be caught the factories that are in official because that stage would not interfere so much i think that the message that people got across russia is that we should keep within there's even a song and recent online sensation praising the prime minister's virtues sung by
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supposedly migrant worker it claims well you know all v.d. by his initials was sent to russia by gawd. i felt less power than many say the song is clearly too much and is just a clever headaches in the meantime the electoral campaign will be sawn with more surprises likely and on the way down we have a school of our party going. straight to minutes past the hour the second from other stories making headlines around the globe a radical move. one cleric the alleged links to al qaeda have been some of the models right and man been released from prison on bail ok extremist teacher abu qatada has been in jail for six years but last week the tribunals ruled you should be free british officials say he poses a threat to the country's security but its hands to deport him back to jordan to
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face terrorism charges have been blocked by the european court of human rights. police are fired tear gas and stun grenades at protesters in bahrain capital ahead of the first anniversary of pro-democracy demonstrations the crowds were attending an anti-government rally heading for a pro round about the country's uprising began to show at least sixty people have died since the shia led protests began last february they're demanding a constitutional monarchy that. serves in northern coast of our holding a referendum on whether bella the current rule of the self-proclaimed republic i hope results of the today vote will average it ima see to their struggle to reunite with serbia belgrade though has condemned the referendum saying this will complicate dialogue with the breakaway state kosovo declared independence in february two thousand and eight i didn't sign it's still not recognized by many countries. let's get the latest from marina now at the business desk.
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hello and welcome to business here and i see the sorrow but there are some crops where mother nature is once again playing tricks just a year after a severe drought the country's plans are facing a call to test once again i see this business model as i go bushnell has more. but the whole feel of some russian troops may have been damaged by the extreme cold weather say we're informers it's only germany france and poland are also risk from sustained low temperatures which of his minus thirty three in some polls that is expected to skyrocket prices for things like bread we'd futures have been off the ukraine russian government warns they may limits exports to guarantee the mystic supply both countries are usually big exporters of grain global we proceed eleven percent in the second half of january alone we will russia's top or never received
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because the suspended load at its grain terminal civil so arms of the black sea froze over for the first time in thirty years a drought from july to november last year had already weakened crops they have brushes so than one company says fifty percent of the country's great crops could be damaged by heavy winds and the worst weather in a quarter of a century first. show one in three great points have already been lost. for a second look at the markets outside the exchange rates the euro's trading in just the last hour against the dollar and that's after being down in early asian trading due to rating downgrade supply moody's which will tell you about a little bit later but the move by the rating agency weighs on the book which will see more of losses against the euro and the dollar. next crude prices are falling around one month high and that's after the us there's a kind approval by the great parliament enticing sanctions on iraq he just part of
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its nuclear south africa companies in control of one of one hundred tigers said they would stop loading cargo from gone. over in europe stocks are claiming this hour as the spies a fresh crop of validates everything starts buying these very thin agency not to notice of spain sovereign debt rating and cuts out lots of the u.k. and france from negative. growth from markets are all. so in positive territory given my stocks i think over a half a percent this hour let's take a look at the in-vitro verse on the nice sacks. one percent higher if we can see a right there there we go looking for the plus of us once an hour and billion dollars in fuel development in the caspian sea by one hundred twenty five the city bank for her certainly a loss isn't is that an around and a half percent and truck maker kumar's isn't on the main gate as the south on movers has made deals with dialer ports on one before our lines which starts in lessons will be focused on this week. investors will be most focused on stocks
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which are already leveraged on successful loan for greece and also relatively well it's mostly prices in tradition in russia but we might be to stocks that steel frames are in the financials as well so the market should be quite focused on names like never eyes things like sort of metro. amongst the bright spot like you're going to be a lot will depend on how the market for the rents increase. for another new solid rosol the world's largest diamond mine are by our ports may sell fourteen percent for an i.p.o. according to commerce on the flotation of worth over one billion dollars may take part in the second half of the seer. over in germany beer lovers will soon have the opportunity to enjoy a new crowd all their favorite beverage and that's because russia six largest brewer i chocked of are has the side to stop the ducks and the european country the company plans to increase its presence in the german markets hence fall this year
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by bringing five million liters of beer i shop owner says it's force that's fine abroad it's a face of regulatory pressure on russia's their markets. but also business looks the sour the headlines are next for the. wealthy british style. look.
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like the. market why not. find out what you're really happening to the global economy with much stronger no holds barred look at the global financial headlines tune in to cause report on our. resistance to politics culture. exclusive. some resistance.
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there with our team are from moscow where three thirty pm headline support service has at the u.n. general assembly scrutinized as the syrian crisis was seen by some as an attempt to tighten the screws on process and trying to push for a new resolution of the two nations consider one cyber. bullied you're against it and yet another wave of downgrades of confidence collapses over the blocks future this as the e.u. president heads with its own thirty percent of accounts are going to improve.
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china's vice president by the last of the true giant struggle to find common ground against the backdrop of an american military build up in the asia pacific. next starting in financial guru max kaiser reveals the latest knows from the world of high finance the kaiser report is coming your way. i am max kaiser this is the kaiser report oh what a week according to a court of the u.k. now refer to it rothschild as a puppet master and it's not libelous but let's talk about banks and sharks and all kinds of other flora and fauna of the global financial crack down stacey max well the banking terrorists have been causing tear gas and deja vu and i have lines. is
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foreclosure settlement deja vu all over again so this is isaac graben a lawyer who specializes in mortgage backed securities and you write today the attorneys general of forty nine states with oklahoma being the lone holdout announced a record twenty six billion dollars settlement with the nation's five largest servicers over false and fraudulent foreclosure practices like robo signing good news right max no no no he looks at the details only five billion dollars of the total consist of cash payments while another seventeen to twenty billion dollars consists of principal write downs and other aid to homeowners at risk of default what this means is that once again regulators have allowed banks to shift penalties based on their improper servicing practices on to the bondholders that actually own the loans so for every dollar you make selling fraudulent mortgages you have to pay maybe one or two pennies to the to the folks who pretend to be in
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charge of some kind of legal oversight group yes and my mom recommendation to for example the looters that we saw in the u.k. in london earlier this year just get your brokers license it's a series seven license it's easy to get i got mine in one thousand nine hundred two it qualifies you still and you have a legal license to steal money and this is what people should be doing that should be trying to reform the banking system they should get their brokers license and rape and pillage like the rest of everybody on wall street but again importantly here max the term is bond holder in this case in the united states case when the five big banks do not own the bonds in that situation that bondholders are shellacked in europe where all the sovereign bonds are held by the big banks bondholders will take no cuts so this is what he is saying is that the deja vu in this case is a country. because when countrywide the biggest fraudulent purveyor of predatory
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fraudulent loans was caught committing fraud they cited huge hoopla deal with attorneys general at the same time with great fanfare the a.g.'s announced in october two thousand and eight that they had reached an eight point six billion dollars settlement with countrywide it was countrywide would modify four hundred thousand loans what i soon realized was that this would not be a cash payment of eight point six billion instead most of that figure consisted of you guessed it principal write downs and other loan modifications of the credits so what happened is that actually countrywide didn't even own eighty eight percent of the so-called goads it was mostly hedge funds and pension funds owned the bond the mortgage backed securities in that case and they were the ones that were forced to write down these loans oh it's regulatory arbitrage global regulatory arbitrage so depending on the territory you cheat the market space you're able to subvert the
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regulations or lack thereof in any of these territories so the bond market in the europe would require one set of criminal activities and the bond market in the united states requires a different set of criminal activities that all the money flows to the criminal syndicates the bond traders the money managers the rating agencies the accountants like. price waterhouse cooper and the regular people get the austerity measures stuffed up their strength training but as you had brought out max not rothschild was accused of being a puppet master and the courts found in fact that the daily mail had justification saying that in this case the puppet masters or whoever they get away with whatever these attorney generals or the law decides so in the countrywide and the attorney general's case with all the mortgage servicers in the united states right now because the big banks are not the bond holders the bond holders lose in the sovereign debt case because the big banks all. holders of those bonds the
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bondholders do not lose there are billions hundreds of billions and trillions of losses generated by the shadow banking system in trading these bond markets in different territories around the world anytime anybody loses money they stuff it into a passive country like greece that's too weak to revolt or portugal and those people are stuck with the losses ultimately and we're going to find out what happens when you totally disenfranchise an entire country whether or not those people will take arms or not we'll find out now in the countrywide case so again why it's deja vu is that at the time politicians could argue well we had no idea about mortgage backed securities we had no idea that the banks actually didn't own it that in this case countrywide well there was a huge lobbying campaign all of the connecticut hedge funds were all went to washington and said hey you can't force us to take a write down on these increases we have a contract with countrywide that says they won't renegotiate it well the banks the
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big banks response to this hedge fund bondholder campaign was to begin a massive lobbying effort that led to the passage of the service safe harbor in two thousand and nine a provision that in its original form said that banks could ignore its contract with investors in the interest of public policy that exact term did not pass in the final bill but this is what banks want so remember when they claim all the time our contracts are sacrosanct they are actually lobbying politicians to say it the contracts are not sacrosanct if we lose but as we've been explaining on this show any time a bank it's near having to pay off a bad bet that they may or gets caught breaking the law they try to get a new law passed this is what i was told when i was working on wall street break any law you want we got lawyers that was the mantra. when you work at
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a firm like paine webber or oppenheimer or alex brown as i did for many years just break any law you want we got lawyers and that's the mantra and you see this all the time if that doesn't work then they put it going to the market said they use high frequency trading and they crash the market as hank paulson did in two thousand and eight to weasel seven hundred fifty billion out of congress using financial terrorism well you're argument there that you're allowed to commit crimes and just do it we'll we'll deal with it the lawyers say that at these banks the top twelve reasons you should hate the mortgage settlement this is from the smith the naked capitalism and she says we've now set a price for forgeries and fabricating documents it's two thousand dollars per loan it is less than the price of the title insurance that banks fail to get when they transfer the loans to the trust it is a fraction of the cost of the legal expenses when foreclosures are challenged it's a great deal for the banks because no one is that any of the servicers going to jail for forgery and the banks have stepped up or bound to the cost of riding
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roughshod over three hundred years of real estate law well let me tell you a little to give you some perspective on this back in the one nine hundred seventy s. i was working as a magician in times square and i used to observe the three card monte dealers you know they have the three cards like this follow the red plays on the head etc now the thing about the three card monte dealers is when they get some jump in there are some tourists with a wad of cash and they take all of his money they always let him win the last hand like a couple hundred bucks after they fleeced him for a few thousand why because that mentality the psychology of the person the chump is that they quote unquote won so here you have the same situation they have to pay a few bucks to two to appease the the people who are on the brink of living memoir and sticking a pitchfork in their skull but in the minds of these people they're thinking we won . not taking on board the fact that they are huge losers and it's all very
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psychologically programmed and it works very it's a con game and the rules of the con game are well known and established and this is a con game well exactly as i said grad man and eve smith point out this twenty six billion dollars deal most americans are going to look at the t.v. and say well gee that's a huge amount because we really stuck it to those banks but they both point out that only five billion is coming from the banks the other twenty one billion is mostly coming from fannie mae and freddie mac. which you the taxpayer watching that own. yes it will lead to austerity in the united states as we say austerity in europe austerity as it's playing out in europe is coming to the u.k. first the camerons u.k. is collapsing and then it'll move to the u.s. let's move on same as it ever was the federal reserve secretly selected a handful of banks to bid for debt securities acquired by taxpayers in the u.s. bailout of american international group so apparently
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a lot of guys are upset about this actual capitalism on wall street because they say quote the exclusivity by which the process has shot out smaller dealers is a little un-american and it seems odd that if you want to get the best possible price that it wouldn't be open to anyone who wants to be the most competitive bidder says david castillo head of sales and trading a broker further lane securities so as it is the new york fed chose goldman sachs credit suisse and barclays to be the only bidders in a close deal for these a.i.g. bonds quote the central bank switched to a less open process after traders blamed their regular more public disposals for damaging prices in two thousand and eleven max you created the virtual specials technology what does transparency do to prices well it would make it impossible for goldman to play the role of the pope along with the federal reserve and allocate favored pricing to their bodies as a core part of a people indulgence and we saw that in the middle ages so no fair competition real
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competition that's long gone but exactly but like we said contract law is sacrosanct when applied to banks it is a terrorist act when applied to the population competition is bad for prices according to goldman sachs but isn't the only thing that you can live by but. duplicitous by definition they call market making their version of market making is heads we win. tails you lose. well speaking of deja vu here some images max from athens is that from two thousand and nine two thousand and ten two thousand and eleven or two thousand and twelve can you tell the tour gas by any other year is still a sweet again the deja vu greeks approved tombstone austerity deal with troika so we see over and over there's a great deal there is not a great deal there's
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a great deal there's not a great deal to go. on again off again there is a deal now there's word german. we're cruising we're trying to milk to try and steal the elegant marbles but the u.k. already stole them but of course this is what they already know the foregone conclusion whatever it is the banks the same ones that won in the attorney general case in america the same ones that won and the countrywide case they say ones that win every single time well win this time here's a headline from ritholtz dot com i thought greek drama concluded at some stage well i responded to that in a tweet i said i'm pretty sure the greek drama doesn't end until papademos has sex with his mother or in this case his mighty. very clever max he studied greek tragedy at university i did i played the dead guy and production. stuff and he's dead bankers. well i have
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a final poster here max debt which he's back in new york bringing justice to the bankers that looks like you well this is a fantastic project on pirate my film buff legal piracy site that's me playing reprisal and all made famous by charles bronson in death wish or famous for moving from the seventy's where he goes around and kills criminals vigilante style here i'm going to go after this film of course bankers in new york vigilante style and cut them down shoot them down in cold blood in broad daylight so that's the theme of the movie and you can support it by going to pirate my film dot com and reserve shares today say server thanks so much for being on the kaiser report thank you max don't go away much more coming your way so stay right there.
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oddly enough sleep once lived sleepless simpler ever more of the turtles our lives the live old ones to see this on forever. you're welcome back to the past or a part time now to go to upstate new york and speak with james howard kunstler of consular dot com james as an author a blogger and an urban architect james welcome to the kaiser report must be here max all right james costner a crony capitalist mortgage settlement deal has been reached a bailout the banks may have a back door yet again your thoughts it is just amazing how they not only never run
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out of tricks but how the american people never seem to tire of being snookered among other things they snookered the new york state attorney general into leading a task force for. in his state of the union message president obama announced he was forming a task force to look into mortgage fraud and he appointed be near-sighted to any general eric schneiderman and the fact is we have a department of justice and a united states attorney general who he may be leaking sawdust as he walks down the halls of justice i would not really sure he's a real human behavior because he hasn't done anything in three years but the fact is they have a criminal division and they have done nothing to investigate mortgage fraud or any of the associated shenanigans for the entire obama term so you know this is just really a new set of smoke screens to perpetuate what is coming could be a
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a just. tremendous control for out but what is it in the american character that makes them feel good about getting screwed my own theory is that american life is just so frantic you know with people struggling very hard to make a living and being distracted by every kind of you know electronic message and show in program and entertainment conceivable that they're just you know the cognitive dissonance the collective noise in our brains is so immense that we can't really reflect on anything that's happening to us however of going back to some previous conversations we had where i scolded you for making revolutionary remarks i'm beginning to wonder whether we're going to get what i would call a john brown moments and john brown for those of you who might have a fragmentary memory of american history was that.


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