tv BBC World News America PBS October 13, 2011 4:00pm-4:30pm PDT
auspices bbc world news america. billionaire behind bars. the u.s. -- what this sentence for insider trading. workers snatched from the largest refugee camp. and the chilean miners celebrate one year after their rescue. their fate has not always been so mary. -- so merry. welcome to our viewers on pbs
and around the globe. today raj rajaratnam was sentenced for his role in one of the biggest insider-trading cases in history. they had pushed for 25 years. the judge issued a warning to anyone tempted to follow the same path. we were in the courtroom and sent this report. >> it is hard to believe that raj rajaratnam was once little- known outside the world of wall street hedge funds before he came a poster boy for crimes that judge described as a virus in our business culture that needs to be eradicated. the drama played out inside this manhattan courthouse in room 17 b. he has only a few weeks before he must report to prison on november 28. down the road on wall street,
they have been watching closely. raj rajaratnam was accused of making $50 million running an insider-trading ring. buying and selling shares in companies that sold confidential information. it is a wake-up call for the financial industry. >> what it sends a strong message is the government is watching, they're watching very closely and insider trading is breaking the rules and the government will be there looking for people who break the rules and they are going to punish them for it. >> the founder of the galleon hedge fund never took the stand voice wasajaratnam's heard in court. they used secretly recorded conversations between he and his associates to get a conviction . the wiretaps are the subject of his appeal. >> this was unprecedented in terms of using wiretaps. they were used for more mob or
blue collar crimes. the defense will appeal whether that was permissible. >> the district judge denied a request that he stay free pending his appeal. but said judge chose not to hand out a longer sentence because of his medical problems. from a life of privilege to present in may, the mastermind behind the biggest insider- trading ring in a generation, he is now paying the price and the judge hopes it will deter others from following in his footsteps. >> for more on this case in the message it sends, i am joined by a broker for the "the new york times". the judge warning to send a
message to wall street. do you think insider traders will listen? >> this has to be looked at in the context of what has been an aggressive two-year campaign by the federal government to root out insider trading on wall street. he was the centerpiece and the orchestrator of the biggest insider-trading conspiracy the wall street has seen. this sentence does send a message but importantly, it is below 20 years that the government was seeking. he did issue a sentence and did have some leniency attached. >> we have seen a trend for stiffer sentences in the case of white collar crime and for insider trading crime. why in this case to the judge when it was such a massive case of an inclination for leniency? >> 11 years is still by one year the longest insider-trading sentence on record.
in this sense it is historic. the government was being aggressive in asking a sentence between 19 and 24 years which would have been dropping and a bit more symbolic of the best -- and fastness of his crimes. what the judge said is that there were some mitigating factors. number one, he has a serious medical issue? this could cause some kidney failure and express some concern that prisons may not be able to do with that. he is immensely philanthropic and the judge looked kindly upon that. there were some mitigating factors in getting a reduced sentence. >> in your piece today on the story, you write that he was called a hedge fund tycoon. what is a had to find -- hedge fund tycoon?
>> it is a new character. way back when you had other financiers that were prominent but hedge fund managers who are among the richest investors in the world and some of the richest people promising big returns and huge fees, he was one of the best. now he's been -- he has been brought low. >> thank you for joining us. >> my pleasure. >> from the courthouse to the corner of wall street, anger over the economy is at a boiling point with protests bringing -- springing up across the u.s. are taking to the streets in addressing what they see as an increasingly divided society. >> ♪ it is 2011 ♪ >> the protests have recently come back into fashion.
there have been camped out for months. to some on the last -- left the are the stirrings of a mass movement. the target, big business. 1% who control politics in america. >> the corporations get money from us because of what we buy. they get money to our government and our government does things we do not like. >> when you have to much inequality, few people with vast fortunes, a democracy cannot thrive and maybe cannot survive in the long run. >> wall street is resolutely unoccupied, closed off because of the protests. we could not find a banker willing to talk about the movement but some republicans have accused them of being dangerous, violent, and crude. it is possible this movement taps into our rich vein in the u.s. at the moment of frustration and discontent.
a feeling that the system is perhaps broken. something that is felt all over the u.s. the protests have spread from new york to all over the country. their occupations in several hundred cities. one is in nashville where protesters are camped out in front of the state house. for my parents, it has been difficult. quite difficult. i have never been arrested before. have to feel some sort -- pride. it is historical. it could make a difference. >> this a movement -- is a movement in the making. sometimes there is less than 10 people, sometimes more than 100. is this the beginning of something like the tea party? the unions are getting involved.
>> it puts more fire in them and makes everybody more excited about the process. >> ithis is not the tea party. many campaigned for a bomb in 2008. it would like to push his party -- the would like to clean up system. >> for hundreds of thousands of refugees cannot rely on aid workers for their survival. now two of them have been kidnapped at gunpoint. the doctors were detected near kenya's borders with somalia. this report from our correspondent. >> the vulnerability of aid workers in the world's most challenging humanitarian emergencies demonstrated starkly once again. these are health walkers --
workers vaccinating children. it was a vehicle that was seized by our man today in this part. the kenyan driver were shot. the international staff are missing. it has been in existence since 1991 when refugees began fleeing into somalia but it is the combination and the continuing fighting that has turned it into the world's largest refugee camp. if the border 100 kilometers away is notoriously porous, so is the camp. despite security measures taken, it will be near impossible to prevent infiltration from militants altogether. security has been deteriorating recently. this is a critical time in the efforts to contain famine and the flow of severely managed -- malnourished refugees. the abductions were carried out
by extremists, extending their reach further. if that turns out to be correct, it will be worrying for a community dealing with a crisis which is the human need that remains immense. >> president obama has said the u.s. will apply the toughest possible sanctions against iran over an alleged plot to kill the saudi ambassador to washington. he said america had evidence to show the world that iran had to be a dangerously and recklessly. he said individuals in the iranian government had been aware of the plot and must be held accountable. is china's stalling? figures out today show the country's trade growth declined in september raising fresh concerns the global slowdown is now hitting the asian powerhouse. residents of one chinese village face a problem that is more immediate. they do not seem to exist. that means they have no birth
certificates, no permits, no ..d. cards >> cannot find this place on any map. as far as authorities are concerned, it does not exist. the men of this village are taking in the autumn harvest. they were forced off their ancestral lands to make way for the reservoir. more than 200 homes lie submerged beneath the stretch of water. villagers say they have received little or no compensation. there is a rush to develop. instead of simply leaving, they chose to build a new village but they were punished for this act
of defiance. like everyone else here, he has no official papers needed for social services. >> without proper id to do anything would be very difficult. there is no running water in the village. in contrast, the reservoir provides fresh drinking water to the nearby city. millions are flooding into china's cities in search of jobs and better lives. the costs of urbanization are being felt in the countryside. this is the villages latest arrival but she has no birth certificate. like her brother's officially, she does not even exist.
without papers, her mother worries she has a bleak future. >> it is difficult for my kids to go to school and later find a job. there is nothing we can do. we hope it can be resolved sometime in the future. >> at night, the villagers use solar power after their electricity was cut by the authorities. he says as a former he cannot survive in the city. instead, his family must rely upon themselves, spending another night with strangers in their own land. blue dragon village, northern china. "bbc worldwatching news america".
prosecutors in france have dropped their investigation into an allegation of attempted rape by the former head of the imf, dominique strauss-kahn. a french writer had accused him of trying to rape her eight years ago. >> she told the disturbing story about how in 2003 she had arranged an interview in a flat with dominique strauss-kahn and had to fight off an attempt to rape her, she said she filed the complaint. now the french prosecutors have decided to drop the case not because they think nothing happened in the flat but because the charge of sexual assault which is all they could substantiate has a three-year statute of limitations. her lawyer said the decision was not entirely disappointing.
>> this decision is satisfactory but in this case described as insufficient. the prosecution -- [unintelligible] >> it is scandalous. the case should have gone further. at -- it proves he is someone who is very well protected. >> i guess it is because of the results of the face-to-face meeting and because of the evidence that was submitted to the investigators. she has the possibility of launching a civil action to keep her complaint going. >> domenik stress, who returned to france -- for domenik stress cit is good news.
he is a keeping a low profile. >> arms dealers, they have fueled conflicts around the globe. prosecutors say they have put one of the world's most notorious on trial in the u.s.. victor boad was allegedly was ready to deliver weapons by the planeload before being arrested in a james bond style sting. now in custody and on trial in america. the story that not only seems made for the movies but ended up as one is playing out its next seen in a new york city courthouse. victor boot is charged with illegally selling weapons and munitions to anti-american rebels in colombia. has's vast arms network earned him a stint in a type
prison -- thai prison. he is accused of killing civil wars, using his fleet of soviet era carter plans to sell weapons all over the world. hollywood last on to the story in "the lord of war." >> if you go to america, we'll get a fair trial? >> he fought for extradition but he lost and last year was flown from thailand to america. the man who once circled the globe faces the prospect of being locked up for life. >> an author of one of the books written about him joins us. the u.s. said the -- he was inspired by greed. his lawyer said he was framed. which is the case? >> it is driven by greed and
adventure. there is ample evidence delivering arms to some of the most horrific war is, he loved the hunt and the business and the thrill of it and he made a lot of money in the process. >> moscow has fought the extradition and did not want him to end appear. why is moscow scared of his trial? >> if you look at his career in 2004 and 2005, he came back under the rubric of the russian state much more than earlier. when he began doing things on behalf of the russian government, he became much more dangerous to them as a prisoner. he was operating on behalf of them. >> in 2004, yes. in prior years he was on his own. he brought people into the structure. he was one of those who became a creature of the russian state. >> you have studied the merchant of death. give me a sense of the man.
how he managed to carry out these incredible operations and fueled wars in continents like africa and middle east. >> he is incredibly smart. he saw the soviet union had two things that were abandoned, hundreds of aircraft, no money for minutes or fuel and the others were weapons stocks that were not being guarded. he married the two commodities into something he could deliver around the world. before he was active, you could buy ak-47's in small helicopters -- quantities but you could not buy anti-aircraft systems. now he delivers in a matter of weeks. >> now he is behind bars. can we think the level of arms supplies has diminished? >> they are fragmented. i do not think they are diminished. he was a creature of a specific time and was able to amass a large network. i do not think that can happen again because of circumstances but there are many others
fuelling many wars. >> what are you watching for? >> i want to see the verdict. i am intrigued by the final operation. we did not get the final operation. i will be fascinated to see how that operation went down. >> hearing him speak in court, is that going to be interesting? >> he has not been very kind. he is a very smart man. he has done something that few people could have done at that time. i have a fascination with his intelligence. >> thank you for coming in. >back to a story few of us can forget. from one year ago when we watched with bated breath as 33 chilean miners were pulled from the underground after being trapped for over two months. one year on, what is happening
to them the world heard so much about? >> when you're on and a chance to reflect on their extraordinary escape from death. the mood here was a laboratory. -- celebratory. this will be the foundation stone of a giant monument to the minors. a lasting tribute in the wilderness. campeau. it was here that relatives spent more than two months waiting for the man to be rescued. for the first 17 days, there were not sure if the miners had survived. and then this extraordinary moment. a message confirming all 33 were alive. a camera was drop down to them. this was the first images captured. and finally, the rescue day itself. now iconic images that
enthralled the world. >> he famously had a wife and girlfriend waiting for him. when you're on, he celebrated the anniversary with his family. last year marked a new beginning. a second life. >> i have had to have a lot of medical checkups. i have suffered a lot of mood swings whenever i remember the things that happened to us. it has been really difficult. >> when they came out, they were greeted as heroes. and many suffer from trauma. around half are unemployed. all 33 will be banded together by what happened here a year ago. at the san jose mine in chile. >> a celebration in baton --
bhutan. it can make a big impression when it comes to dedications. the senate -- 31-year-old king got married and it was quite an affair. >> in the stillness of an early morning, but is torrance began to sound around the ancient himalayan fortress. the procession laid out our rich tapestry of color. the 31-year-old monarch is known as the people's king and this was an occasion for all to enjoy. >> this is a once in a lifetime event. >> the wedding ceremony described as a simple family affair was not short on splendor. the ban was broadcast live on television. are relatively recent phenomenon.
bhutan has had tv for the last 12 years. there has been a reluctance to open up to the world. the wedding was notable for the absence of any celebrities or other guests. they are the new faces of royalty. absolute powers were abolished three years ago. today's wedding may have helped to consolidate his image as a popular monarch rather than a reckless. >> that brings us to the end of today's broadcast. you can get updates on our website and you can get in touch with me on twitter. i am @kattykaybbc. thanks for watching. i will see you back here tomorrow.
>> funding was made possible by the freeman foundation of new york, stowe, vermont, and honolulu. newman's own foundation. union bank. and shell. >> this is kim - about to feel one of his favorite sensations. at shell, we're developing more efficient fuels in countries like malaysia that can help us get the most from our energy resources. let's use energy more efficiently. let's go.
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♪ and everything ♪ everything ♪ ♪ is so wondrous ♪ wondrous ♪ ♪ there's more to explore when you open the door ♪ ♪ and meet friends like this, you just can't miss ♪ ♪ i know you're curious ♪ curious ♪ ♪ and that's marvelous ♪ marvelous ♪ ♪ and that's your reward ♪ you'll never be bored ♪ if you ask yourself, "what is this?" ♪ ♪ like curious... ♪ like curious... curious george. ♪ oh... captioning sponsored by nbc/universal narrator: early on sunday, the man with the yellow hat got called to an important meeting. i lost my snakey staircase! george, have you seen my snakey staircase? i... what... that's not possible... hey. (insistent chattering)
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