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tv   Boom Bust  RT  November 13, 2013 10:30pm-11:01pm EST

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we were talking off camera about this whole contentious political mcgillis trauma and and i said you know when did this start this this basically doing judicial nominations over politics arguably it went back to george marr john marshall i mean you know john adams put him on the court just just to thomas jefferson but in the modern era you saw the first bush administration yes ok so under the reagan administration bork was filibustered i mean there were good reasons there were prominent arguments that could go forward to explain why he was filibuster i think it was a distortion but under the bush administration we went from a we're no longer going to make a principled argument about policy and we're going to go for gutter ball and that's what was done in the clarence thomas confirmation process oh so low so in your world the democrats suddenly became political around here clarence
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thomas political you don't think it had the ring the bar ignoring radar tense as i said are you glad clarence thomas was alone right now getting you know his nomination after what he'd. been over at the department of education he got confirmed as chairman of the e.e.o.c. he got confirmed as chief on the d.c. circuit court all of us now he's no longer qualify and it turns out he's impeachable right turns out oh he's got so many conflicts of interest he's been he has he has behaved in a way that if he was on any other federal court he would have been impeached by interacting with his confirmation on like his predecessor who slipped through half the hearings and notably admitted to his biographer that he left his i don't deny right we might have a conversation about you know history but it's become political so let's let's let's move on elizabeth warren is to teach a course on it no doubt and i would doubt in her speech just in a speech yesterday a list senator warren elizabeth. and warned that the idea of too big to fail banks
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has only gotten worse since the two thousand a financial collapse warren said that who would have thought five years ago after we witnessed firsthand the dangers of an overly concentrated financial system that the too big to fail problem could only have gotten worse this is something i talk about in my new book the crash of twenty sixteen i discuss how there's going to be another crash probably before two thousand and sixteen or in two thousand and sixteen because the situation's the same as it was in two thousand and eight the fundamentals haven't changed and so are we i'm curious what you guys think that we're on the edge of a financial collapse is this a bipartisan analysis kudos to senator warren. if a crazed wacko left winger from massachusetts didn't actually exist we'd have to invent one she is perfect right out of central so if you think five banks having assets equal to sixty five percent of the g.d.p. of the united states is a good thing it turns out an analysis that the federal reserve put out shows that
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america is ranked number to him in terms of banking concentration when you start looking at world bank operations may be valid so perfect as it was to retail only has one bank and you know so you've got it on a one to one international it makes that are recognized i'm talking about europe i'm talking about asia but you're going in there as your bank is really the only major city once glass steagall basically in a sense. but then but in this case the federal reserve was suggesting that there are some benefits that have accrued to the american public because of the comparative advantage and the reason is you are in for too big to fail that you disagree no no no no no i think anybody i think anybody that is that a marketable he corrupt should go to jail and i am i'm all for anybody collapsing who does not abide by the rules right now with glass steagall he wants that to be back implemented again but the real problem was the subprime loans from the community revitalization and that basically got essentially we were. writing sub
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prime loans over and over and over again because it was a quota with the government to make sure that you have a house in our careers even nine hundred truly is a. prison it's about accountability and one of the ways that you get accountability one of the ways are going to come from see that i agree with the obama administration on the do is that you get a culture of the six hundred person the one of the ways that you get people accountable in the free market is they lose their jobs and that's a good healthy start what we need is the ability so americans losing their jobs was a good thing. not our bankers need to be held accountable what happens is that they are being given passes or being bailed out or they would essentially bail i know you don't bail people out but he wants to be a law he was you know that was i must say that i just i think the market was great wasn't going to be we don't have only choice one they go to prison or we bill them out those are not our choices the federal reserve is is pumped down everybody's throats and so nobody goes out there shops for an adequate bank they basically all have this bail out with the federal reserve if i have to go make sure that i invest
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my money into something that is accountable i'm going to take less risk the federal reserve gives everybody this big blanket of security start now see i see you address of progress and the a.c.s. and distorted what happened with general motors everybody believed they needed bankruptcy what everyone didn't believe as they needed the federal government to own them and they were too big to fail we believe you would have bankruptcy yes that resulted in government but only on the relevant resulting a result of their workers going from twenty dollars an hour to fourteen dollars an hour yeah you know that's all you have a fairly it is all you don't have if you only have to do that if you want to go they will country need to go into some so they don't operate that way you think our economy is just fine we're not headed for a crash. you are so distorting my statement well no i'm right handed for a big big because of the size and scope of government ok that's. these are so you
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think that government regulation is causing the problems because people have a blanket of security so all spend it if companies are held accountable yes but no oh hello can i get a bailout no you cannot do this because this is what's causing this that it is going to just a ball just you know that is the red chancellor out of my book your office and i went to prison you simply don't write a check and when i show up and everybody i agree so and so the question for me are him so that so thank you. and even a question twenty sixteen is coming and the energy i see in itself gives a blanket of security so banks can take these high risk loans this is called regulatory capture but we all agreed on this everybody we shouldn't really going into the bank and asking what is the risk care if you got extra high interest that's coming and we need to wonder what the risk is but people are not being held accountable the individual person is just running around rapidly because the f.b.i. says right there to balance out we can't keep adding other workers like in other words we're putting money in the big five banks knowing that the first quarter
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million dollars is protected by f.b.i. says that's a real problem to be easing as it is the same concept on a broader level i don't i don't disagree ok let's move along to the wage republicans actually support animal wage according to a gallup poll released monday over half of seventy self identified republicans fifty eight percent support raising the minimum wage to nine dollars us hasn't raised the federal minimum wage which currently stands at seven twenty five since two thousand and nine expected despite record levels of corporate profits recent years right now millions of americans are struggling to survive and the republican you know the majority republicans like this by the way washington state oregon i had a long conversation the radio today with carl wilson who's a talk radio host and boy and the minimum wage in those two states is in the neighborhood of nine dollars and has been for some time and it's indexed to inflation and they're doing great their economies are booming their companies are doing well there you know the minimum wage people are consumers and they drive economic demand and what do we do that. well i am a free market dow if
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a company wants to offer five dollars an hour at twenty dollars an hour that's on them so you don't have to be there you don't have to work all day yes i remind everybody that we are setting up on this mission be able to function how it's so please as long as they help there are enough laws in place to ensure that the workers are kept safe that they get their time off and if you don't want to work there you don't have to work there if you want to strike a strike but the fact of the matter is that a company should not have to feel like the federal government or the state government is telling them how to operate their business and if you want to succeed in this world are going to be competitive you're going to you want the best talent you're going to pay for better wages so i'm going to bring it back to politics chris christie allowed a minimum wage hike that's indexed for inflation that will raise it for ever and ever and ever to go into effect during his campaign he put no effort to stop it and that is going to be held against him when he's running in the republican primary made up of republicans and you'll get to see the difference between some folks who said in the survey i'm support this versus the folks who voted on there were
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a whole different that's all that really matters to me but you know what it with and that's another you know very interesting conversation as it were who is going to be the republican nominee but i think that we should wait a year for that speedo low wages wal-mart. says that they are going to stay open on thanksgiving historically these big companies to stay open on thanksgiving what they do they should stay open what's what's even more interesting larry is that you guys and every other of you read dickens christmas carol yes ok so you know that at the end of christmas carol not only did scrooge secretly send a turkey to tiny tim on christmas day but the day after he and tiny tim i'm not trying to bob cratchit had no idea this came from scrooge the next day scrooge gets to work fifteen minutes early so you can catch crabs are coming in late cratchit comes in eighteen minutes late scrooged. someone says you're right
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and he's going oh yes i'm sorry it was and he says i don't stand for this in fact i'm giving you our raise and that's how the book ends is ebeneezer scrooge goes from being a low wage employer to being a fair wage employer wal-mart is saying we're not going to give you away a raise we're going to give you a turkey actually we're not even turkey we're going to turkey dinner. first of all first of all you're talking about going to be at least follow the example of a ridge you know there should be mark you're talking about a caste system where people who were born were given special advantages and people who were not who just born. miscarriage was the middle class he was not the upper class he was of all that spend of glad joys of the world didn't really have good opportunities because of the caste system we don't have the capacity at the lowest social mobility in the developed world but we do have a cassis no central ok secondly secondly i am
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a critic of this move to say the two days out of the year that the entire nation comes together and acknowledges that it's family time it's increased creator time that's time that ought not to be commercial to say you know i think government is so to all these companies you know we should have a law but i will say i don't like wal-mart for doing it and it makes her less only one of the shots on that is appalling that all the companies now are feeling they have to stay open on thanksgiving to compete with each other however it is a free market system i think american shoppers should buckle down to make a demonstration stay home and a lot of the black fridays are now black thursdays and it's really i mean one of my friends is looking online she goes i have to leave my house on thanksgiving to get these sales and there are certain items he wants to get that she only specifically gets so the reality is i don't want the government regulating it it is a free market but the american consumer controls whether there's enough work or not and if wal-mart has blockbuster sales and they go out. the roof yes but it'll be
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back next thanksgiving if it's lackluster it won't happen on the sea ice i still think that evan is a scrooge should be a good role model for the walton family but any more scoop or just agenda thanks for being with us are coming up ten mega-corporations on market or distribute almost everything we buy from the dish soap and candy bars to baby food and puppy chow so what happened to the good old days a competition of american marketplace for on that internets daily so.
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i would rather as questions to people in positions of power instead of speaking on their behalf and that's why you can find my show larry king now right here on our t.v. question. i'm . i think we're. trying to. do and thank. all the money and the families that for. the last. year just. a.
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little. technology innovation all the developments around russia we. covered. birthrights wong we're going to the supreme court and labor law as many of you know the roberts court is one of the most conservative supreme courts in american history time and time again chief justice john roberts and the other four right wing justices have proven that they are friends of giant corporations and a means of everyday working people now once again they have a chance to put a damper on the labor movement that's because this term the roberts court will decide to important labor cases unite here local three thirty five versus mall hall
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and harris and the quinn and depending on how the court rules it could either keep in place important protections for unions workers or so the labor movement that decades to help us break these two cases doubt i'm joined now by a progressive progressive commentator nate sweet that has gone time to have you with this great let's start with the unite here local three fifty five versus small . this deals with section three zero two of taft hartly taft hartley modified the way a rock. lay out what the wagner act was what taft hartley did what three o two does and why the why we should care about this so the wagner after this passed during the height of the new deal that established for the first time in the very far yet established for the first time the right of the american worker to unionize and also established the national labor relations they were relations board and gave it the ability to regulate the election process in the unions but you know conservatives are outraged by that so they asked the tough hartley act in one nine
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hundred forty seven that modified the wagner act weaken protections for workers and allowed for the right to work for less laws that we now see you know run rampant now exported all over the country but section three zero two of the taft hartley act actually prohibited the exchange of so-called things of value between unions and employers in the negotiations over union contracts and where this comes into play and unite here local three three five persons in the hall is in florida although i'm just certain things of value i mean the reason the reason that those things of value part was put in in forty's was the the belief in the reality in some cases the some unions have become corrupt you have unions that were basically were broader you know that kind of thing and so what they wanted to do was probe prevent the union leader from giving you know new cadillacs to the c.e.o. or the or the trade negotiators of a company that they were negotiating contracts right exactly but what's interesting
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here in the mohawk case is the unite here union that was negotiating with with mardi gras again in a florida casino company when they negotiated neutrality agreement which is essentially a union negotiation where and stead of going through the normal national labor relations board election process they just agreed that they won't you know they won't strike the hope support they actually help support the companies casino about like a ballot initiative that was supported by the company the company just let them have a. you know card a card check process so they agreed then they would excuse strikes they'd support the company and another in their efforts in exchange for having a card check union election day when they won and more and more one of the employees of the company says that that actually violates section thirty three zero two of the tarp taft hartly act because it's an exchange of a thing of value that if you got it and if it from it will help you the companies that will help you out and arguably go under that logic anything the
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union a company negotiate becomes a violation is actually through to right because any time you negotiating for something that you have an interest in if you get something that benefits you it's a thing of value now two out of three district courts appeals courts have said what i just said what you just saw the if you identify the outcome of a negotiation between a union and a company as a thing of value and therefore outlawed it or have to at least nine hundred forty seven search through to. you might as well not even have unions i mean you know you just blows the whole thing up one out of three court says oh no you know and then you guys were going to figure out that something of value and that court the eleventh circuit as i recall that's the argument that's being taken at the supreme court right now if the supreme court agrees with the eleventh circuit it's going to it seems to me correct me if i'm wrong it's going to completely got the wagner yeah i mean the real purpose here will be the end to unionization united states yet the real purpose here isn't so much to deal with section three or two of the top
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hartley act but it's to gut and weaken card check elections as a whole because or anything else that might you know i mean just negotiating over pay negotiating or pensions those are things about yeah and that's obviously why they're bringing to the roberts court because they've seen the roberts court time and time again make these incremental steps towards abolishing important aspects of the new deal whether it's you know protections against campaign finance etc that's i think i think the people who are bringing to before. in this case for some your court this is a hail mary pass on the part of the people who want to just totally bring organized labor in the united states for all time exact area and discussion we're out of time i want to get into harris versus quinn well we'll have to do that next week mate thanks a lot example great city. just. it's
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the good the bad the very very diffused you really ugly the good gregg popovich a legendary senate tonio spurs coach himself a veteran of the u.s. air force called out washington politicians monday for praising veterans while doing nothing to stop the brutal food stamp cuts that went into effect earlier this month he told usa today in a lot of ways it's a joyous day if we all remember to honor people but in some ways it's a sad day because soldiers and veterans don't really get honored the way they should be just like the way it is right now how many vets might have to do without food stamps because of what's going on with the government right now the program is huge to a lot of these families i mean huge it gets them through and it may or may not be there who knows because government is not very functional at this point as we all know. well said maybe it's time you gave congress one of your favorite famous talks
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the bad c.b.s. sixty minutes correspondent lara logan finds herself embroiled in controversy this week after she was forced to retract a misleading story about the september eleventh two thousand and twelve attack on the u.s. special mission at the ghazi but the real battle here is logan's of lawyers c.b.s. after conservatives whine and complain about dan rather's actually true george bush national guard report back in two thousand and six c.b.s. fired him the network has done nothing though to punish logan for her false benghazi. reports c.b.s. we're actually concerned about truth and fairness they would ask really and the very very ugly memory pope there are crazy obama haters and then there are really crazy obama haters this pope is one of the latter check out what she said about the president during a recent broadcast on the far right radio show the many. and we knew very as it's common knowledge that you know he girls were never anything that he
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was ever interested in and he would get with these older white gay men and this is how we just pretty much had the impression that that's how he was procuring it's cocaine now they were to having sex with these older white guys and that's how he was getting his cocaine to be able to freebase. just completely falls when they just make this stuff up and that's a very very. much diversity in america's economic web of life and image that was first posted on reddit last year and was recently grabbed by the folks over a policy mike shows just how out of control corporate america has become in the years since ronald reagan stopped enforcing the sherman antitrust act right now
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there are ten giant corporations that control either directly or indirectly virtually everything we buy these corporations are craft coca-cola pepsico nast nestle procter and gamble general mills kellogg's mars unilever and johnson and johnson these ten corporations in turn own market or distribute what people think of as the products of hundreds of other companies for example procter and gamble is best known for its cleaning person. hygiene products like detergent and soap joyed dishwashing liquid that the company also owns or markets other products from i ams dog food an abysmal duracell batteries and metamucil and there's mars the giant candy conglomerate responsible for stickers bars and m. and m's and other sweet treats but did you know that mars also owns or markets pedigree dog food whiskas cat food and uncle ben's rice and there's nestle many american consumers know nestle for its nescafe espresso as li ice cream or nesquik
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chocolate milk but this coffee and chocolate milk manufacturer also owns or helps market purina dog cat food gerber baby food ralph lauren cologne and hair care products these giant corporations essentially have a stranglehold on most of america's consumer market but there's a bigger and even more disturbing picture here many of these corporations are interlocked and interconnected themselves over it they ruled that dot net you can track and discover the connections between america's largest corporations for example according to they ruled out now its most recent information pepsico has a board member who serves on the board of the colonial williamsburg foundation alongside a board member who serves on the board of the kellogg corporation and johnson and johnson had a board as a board member who serves on the board of the u.s. chamber of commerce foundation with a board member of coca-cola. it wasn't always like this believe it or not there was
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a time when there was plenty of competition in the american marketplace when one corporation didn't own two hundred other companies when the corporations largest corporations and when the nation's largest corporations weren't in her walk to the liberal arts and sherman antitrust act was passed back in one thousand nine hundred and its prime law prevented businesses from overwhelming competition in the marketplace and even require the federal government to investigate any company that tried to monopolize an industry the sherman act worked well for nearly one hundred years but then everything changed when ronald reagan became president the sherman antitrust act became a thing of the past the break up of a t.n.t. completed by jimmy carter was its last gasp as a result all across america local businesses were run out of business as giant corporations took over main street and dominated industry after industry giant megastores like wal-mart and target replaced local convenience and hardware stores
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while local diners and burger joints were replaced by the likes of burger king and mcdonald's bigger companies got bigger and bigger to the point today were ten corporations control almost everything we buy this is not good for our economy it's not good for our democracy when corporations have all the power you and i have no say in the american democracy ecosystems that are broad and diverse are resilient all those that are narrow and unbalanced are fragile and it's the same with economies it's time to bring diversity back to america's economic web of life and we can do that by bringing back the sherman antitrust act so competition can return to the american marketplace. and that's the way it is tonight wednesday nov thirteenth two thousand and thirteen by the way my latest book the crash of two thousand and sixteen is now available for purchase at all on line retailers at your local bookstore or library. you don't have to buy
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a library career for free don't forget democracy begins with you get out there get active tag your. play.
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place. live. cross talk rules in effect that means you can jump in anytime you want.
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we're not psyched to an active camp at guantanamo where patients are forced that the outer amount hunger strike never turned the world's attention to the place that something gulag of our times. must i was a new alert animation scripts scare me a little bit. there is breaking news tonight and we are continuing to follow the breaking news many. alexander's family cry tears of joy and a great thing rather that there has to be ever read or get a court of law on the ground online is a story made for a movie is playing out in real life.
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on larry king nalgene one of the biggest names in the end of a good ramsay's jackson you know i mean i was booed don't get in a k.z. like in the case to see who the toughest guy was in all of them to leave u.f.c. you know was it was very easy for me to leave us be very easy to understand either way they treated me i love them i was on her friends fired me and i'll send her to get today's kid will you know the movie yes thelma and doolittle and plus i don't know what makes there's a thing is this character a group to show when you accused man you see them out of doing it you know it was the biggest part songs that were that's all next on larry king now.


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