all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them of global in a collapse before the collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stacey ebert 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. welcome back to the kaiser report i'm max keyser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy well what have they done they're basically trying to keep everything the way it was and beautiful stay sis this means no debt reduction no taking apart the big banks and no going after the people who ran the big banks and did all of the various acts of fraud that we've seen over less say ten years the fed is reall

global we will speak to the man who's been touted the face of m.f. global's customers he's been in d.c. this week a lot being lawmakers to support this latest effort james good to les joins us in studio and from lehman brothers to bernie made off to m.f. global is bankruptcy law stacked against customers trying to get their money back and does the law enable financial institutions to commit fraud enable fraud and come out unscathed will look at the bigger picture and ben bernanke is out today saying the banking sector has gained a much more solid footing in the past few years but is this based on a flawed examination of the foundation and will discuss let's get to today's capital account. so if you watch this show then you know the story behind m.f. global and if you want to take stock of where we are now well customers this includes of course farmers mom and pop investors they're still missing their money regulators and prosecutors are reportedly investigating this one point six billion dollars shortfall in customer money money that went missing in

global we will speak to the man who's been touted the face of m.f. global's customers he's been in d.c. this week a lot being lawmakers to support this latest effort james good to les joins us in studio and from lehman brothers to bernie made off to m.f. global is bankruptcy law stacked against customers trying to get their money back and does the law enable financial institutions to commit fraud enable fraud and come out unscathed we'll look at the bigger picture and ben bernanke is out today saying the banking sector has gained a much more solid footing in the past few years but is this based on a flawed examination of the foundation and will discuss let's get to today's capital account. so if you watch this show then you know the story behind m.f. global and if you want to take stock of where we are now well customers this includes of course farmers mom and pop investors they're still missing their money regulators and prosecutors are reportedly investigating this one point six billion dollars shortfall in customer money money that went missing in

global situation in bankruptcy and they were m.f. global's banker it's quite interesting they also have been involved in their own scrutiny for that london whale trade more recently you made an interesting point which is that perhaps jamie diamond reputation as being a good risk manager allowed the firm to take such outsized rests without with some scrutiny how so. it's difficult to question someone like. that i can imagine and peter you see is that involved with j.p. morgan chase and its various legacy firms since the sixty's so again you have a very significant client here from the new york office you have a very high profile client and you have a tendency perhaps for the auditors in that situation to lose their professional skepticism to not want to question to not want to think that potentially maybe jamie diamond or someone that's reporting directly to him is bypassing all the good policies procedures controls that might be in place or at least might be on paper in other parts of the bank so the moral of all of these stories is

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with m.f. global it'll collapse but before that it collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stay sober 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. sigrid lumber tour. was to build the world's most sophisticated. doesn't sound anything. to teach creation why it should care about humans and. this is why you should care only dot com. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy well what have they done they're basically trying to keep everything the way it was beautiful stay sis this means no debt red

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with m.f. global it'll collapse but before that it collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah you cynical dance sad very sad ok stacy ever 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. secret lover tour. was able to build the world's most sophisticated robot which doesn't sound anything. to teach creation why it should care about humans. this is why you should care only on the dot com. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy well what have they done they're basically trying to keep everything the way it was beautiful stay sis this mean

global's bankruptcy. m.f. global is worth more to certain and to use dead than it was along. well now we know how much it's carcass is worth to the legal team winding down the estate and remember this is the one led by the trustee and former f.b.i. director louis freeh they've reportedly racked up twenty five million dollars in fees so far customers are reportedly upset understandably so their money is still missing we'll talk about some possible m.f. global enablers that seem to be getting a free pass with regulators and investigators plus the financial times reports j.p. morgan's chief investment office has built up positions totaling more than one hundred billion dollars in complex risky bonds of the types that were at the center of the two thousand and eight crisis this is in addition to the ones in credit derivatives that led to the two billion dollar loss that is now infamous as the banks for a few taishan until now of course as an excellent risk manager allowed it to escape scrutiny for taking these types of risks we'll talk about it let's get to today's capitol ago. e

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them up will it'll collapse but before that it collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stacy ever 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. well with the. technology innovation all the developments around. the future are covered. with. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy well what have they done they're basically trying to keep everything the way it was beautiful stay sis this means no debt reduction no taking apart the big banks and no going after the people who ran the big banks

or any regulatory body they just stole the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them a bull in a collapse before the collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal use of nickel dance sad very sad ok 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. well. technology innovation all the developments around. the future covered. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy but what have they done they're basically trying to keep everything the way it was beautiful stay sis this means no debt reduction no taking apart the big banks and no going after the people who ran the big banks and did all of the various acts of fraud that we'

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them a bull in a collapse before the collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stacey ever 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. fifty two meters. more than a thousand tons it's. skin thickness thirty centimeters the guinness record. commemorating the battle of stalingrad. the mother of the call. on our team. lose. there hasn't been a finger on t.v. . it is to get the maximum political impact. the source material is what helps keep journalism we. we want to present. something else. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whale

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them available in a collapse before that collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok states there but 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. well. technology innovation all the developments around russia we. covered. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy well what have they done they're basically trying to keep everything the way it was beautiful stace this this means no debt reduction no taking apart the big banks and no going after the people who ran the big banks and did all of the

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them a little in a collapse but before that it collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok states there but 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. sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you saw you don't know i'm tom harpur welcome to the big picture. hasn't been. on t.v. . it is to get the maximum impact. the material is for. journalism we. want to present. something else. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all r

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with m.f. global it'll collapse but before that it collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok states there but 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. in the. world with. technology innovation all these developments from around russia. the future covered. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital criswell and welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy well what have they done there basically trying to keep everything the way it was beautiful stay sis this means no debt reduction no taking apart the big banks and no going after the people who ran th

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them of will in a collapse but before that collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stacey ebert 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. fifty two meters. more than one thousand tons. skin thickness thirty centimeters the guinness record. commemorating the battle of stalingrad. the mother than called. on our t.v. . shows that so much could be going to make a lot of people very easily look at what is happening in french voters appear to be moving to the left one priest is leaning hard to the right what is causing the collapse of the political scene. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital chris whal

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them a little collapsible before that collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stays there but 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. welcome back to the kaiser report i'm max keyser time now to turn to chris whalen senior managing director at tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy well what have they done they're basically trying to keep everything the way it was in beautiful states this this means no debt reduction no taking apart the big banks and no going after the people who ran the big banks and did all of the various acts of fraud that we've seen over less say ten years the fed is re

global's bankruptcy. m.f. global is worth more to certain and to use dead than it was along. well now we know how much it's carcass is worth to the legal team winding down the estate and remember this is the one led by the trustee and former f.b.i. director louis freeh they reportedly racked up twenty five million dollars in fees so far customers are reportedly upset understandably so their money is still missing we'll talk about some possible m.f. global enablers that seem to be getting a free pass with regulators and investigators plus the financial times reports j.p. morgan's chief investment office has built up positions totaling more than one hundred billion dollars in complex risky bonds of the types that were at the center of the two thousand and eight crisis this is in addition to the ones in credit derivatives that led to the two billion dollar loss that is now infamous as the banks for a few taishan until now of course as an excellent risk manager allowed it to escape scrutiny for taking these types of risks we'll talk about it let's get to today's capitol ago. ever

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them up will it'll collapse but before that it collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stays there but 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. could you take three. three. for your media. hasn't been. on t.v. . it is to get the maximum. the material is. journalism we. want to present. something else. welcome back to the kaiser report i'm max kaiser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy well what have they done they're basically trying to keep everything the way it was beautiful stay sis this means no debt reduction no taking apar

all the money so m.f. global j.p. morgan say well they're not going to prosecute lehman brothers so we'll just do the same thing with them available in a collapse before the collapses we're going to steal a quarter of a billion dollars because there's no laws against it because that there's legal yeah there's a nickel dance sad very sad ok stacy ever 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. welcome back to the kaiser report i'm max keyser time now to turn to chris whalen senior managing director of tangent capital chris whalen welcome to the kaiser report thank you max all right chris whalen what has the fed done to our economy but what have they done they're basically trying to keep everything the way it was beautiful stay sis this means no debt reduction no taking apart the big banks and no going after the people who ran the big banks and did all of the various acts of fraud that we've seen over less say ten years the fed is really the b

morgan is a secured credit or ok they made a margin call on m.f. global m.f. global gave them the money they're blowing the customers and j.p. morgan even asked they wanted to rewind a letter that i ever got ever got it so i think it was incumbent on j.p. morgan to say wait a minute there's something wrong here and keep in mind they're clearing for this firm and they know what the firm was doing right and i want to get to the bigger picture here because because the conclusion you draw from these kind of two factors that the trustee can't get money from the third parties also creditors are protected by the safe harbor law you come to this conclusion which is the. is this as a result of these two defenses working in tandem today financial institutions can aid frauds such as made off at m.f. global to mention just a few without being brought to task in civil proceedings and once the perpetrator of the fraud bio's for bankruptcy the individual victims often are left without any means of seeking redress and the bad actors among management and other customers litera

morgan is a secured credit or ok they made a margin call on m.f. global m.f. global gave them the money that belong to customers and j.p. morgan even asked they wanted to rewind it a letter that i ever got never got it so i think it was incumbent on j.p. morgan to say wait a minute there's something wrong here and keep in mind they're clearing for this firm and they know what the firm was doing right and i want to get to the bigger picture here because because the conclusion you draw from these kind of two factors that the trustee can't get money from that's their parties also creditors are protected by the safe harbor law you come to this conclusion which is the. is this as a result of these two defenses working in tandem today financial institutions can aid frauds such as made off at m.f. global to mention just a few without being brought to task in civil proceedings and once the perpetrator of the fraud files for bankruptcy the individual victims often are left without any means of seeking redress and the bad actors among management and other customers lite

morgan is a secured credit or ok they made a margin call on m.f. global m.f. global gave them the money they're blowing the customers and j.p. morgan even asked they wanted to rewind a letter that i ever got never got it so i think it was incumbent on j.p. morgan to say wait a minute there's something wrong here and keep in mind they're clearing for this firm and they know what the firm was doing right and i want to get to the bigger picture here because because the conclusion you draw from these kind of two factors that the trustee can't get money from that's their own parties also creditors are protected by the safe harbor law you come to this conclusion which is the. is this as a result of these two defenses working in tandem today financial institutions can aid frauds such as made off at m.f. global to mention just a few without being brought to task in civil proceedings and once the perpetrator of the fraud filed for bankruptcy the individual victims often are left without any means of seeking redress and the bad actors among management and other customer

global customers press j.p. morgan for fun customers of m.f. global holdings are pushing regulators to get tougher on j.p. morgan chase about money that went missing from accounts just before the firm's collapse and a letter sent to regulators and m.f. global customer group calls for j.p. morgan. and to return hundreds of millions of dollars in m.f. global couth oh i remember operation twist the latest effort by the fed to stop on interest rates and penalize savers they should rename it operation oliver twist because then they got the schmuck customers begging j.p. morgan the very company that stole their money they're saying lose to me the cruel more superior to me and that's like you know he's played the role of fagan doesn't he's either. pick up the pick a pocket or. you've got to pick a pocket or it will go if there is still some money brokers of the m.f. global and the jamie dying in awe. you know he's a real part of broadway right over here jamie dimon is making a remake of oliver twist and they get so massive shall we go to the producers

global customers press j.p. morgan for fun customers of m.f. global holdings are pushing regulators to get tougher on j.p. morgan chase about money that went missing from accounts just before the firm's collapse and a letter sent to regulators and m.f. global customer group calls for j.p. morgan. and to return hundreds of millions of dollars in m.f. global oh i remember operation twist the latest effort by the fed to stop on interest rates and penalize savers they should rename it operation oliver twist because now they've got this part of schmuck customers begging j.p. morgan the very company that stole their money they're saying lose to me the cruel more superior to me and that's like you know he's played the role of faith doesn't he other. pick up to pick a pocket or. pick up a little go if there is still some money there's a global jamie dying in awe and. you know he's a real part of broadway right over here jamie dimon is making a remake of oliver twist and they get massive show of the better the producers it's like the producers and the p

global customers press j.p. morgan for fun customers of m.f. global holdings are pushing regulators to get tougher on j.p. morgan chase about money that went missing from accounts just before the firm's collapse and a letter sent to regulators and m.f. global customer group calls for j.p. morgan. and to return hundreds of millions of dollars in m. a global oh i remember operation twist the latest effort by the fed to stomp on interest rates and penalize savers they should rename it operation oliver twist because then they got the schmuck customers begging j.p. morgan the very company the stole their money they're saying lose to me the cruel more superior to me and that's like you know he's played the role of faith doesn't he other. pick up to pick a pocket or. go if there is still some money. and the jamie ah. you know he's a real pro broadway right over here jamie diamond is playing in a remake of oliver twist and they get massive shall be better than producers it's like the producers and the producers they sold stock in the play that didn't e

global customers remember m.f. global customers have their wealth stolen from jamie diamond personally over a billion dollars he stole it he's not in jail but let's put him in handcuffs with these folks was just getting on and just an more simply beating the the stuffing out of jamie i love it yeah well on the subject of them piling on i think you have to plead with the hedge fund managers out there again because on the topic of them piling on this quote goes on i'd have thought the people involved already have a position on i think people are looking at what makes sense some people might think we can push it a bit well look it's prisoner's dilemma or game theory because a lot of these funds rely on morgan for their own credit to go do their day to day operations but one of these funds going to break ranks are going to outperform all the rest by saying we don't need this diamond character anymore this pig and the rest of funds are going to follow suit so this is a classic. then reaction remember they can make it sh

global is that bizarre that we haven't seen more scrutiny of the auditor. well it's it's sad but it's on surprising the auditors usually the last one to come in the picture they stay on the sidelines like switzerland and play both sides. seemingly helping the investigation they do know a lot because they're on the inside they have access to all of management to all of the financial statements all of the systems but until someone sues that usually general media doesn't notice however they have been active on the sidelines and they are there are probably helping with the investigation however they're helping from a friendly perspective they should be scrutinized though because they know global

m.f. global funds trace why we got the money back investigators program that collapsed bankrupt brokerage m.f. global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firm's clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course. from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to lumber but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealing the mon

m.f. global funds trace why we got the money back investigators probing the collapse of bankrupt brokerage m.f. global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firm's clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course. from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to lumber but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealing the mo

m.f. global funds trace why we got the money back investigators probing the collapse of bankrupt brokerage m.f. global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firm's clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course. from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to limbo but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealing the mon

m.f. global funds trace why we got the money back and best to give this program the collapse of bankrupt brokerage m.f. global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firm's clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course. from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to lumber but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealin

m.f. global funds trace why we got the money back and investigators probing the collapse of bankrupt brokerage m.f. global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firm's clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course. from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to lumber but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealing th

m.f. global funds trace what we got the money back investigators probing the collapse of bankrupt brokerage m.f. global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firm's clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course. from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to lumber but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealing the m

one through their m.f. global one through lehman brothers main they all went through london you were in london you were at bear stearns for a time so you know what's going on there quite well what is it about london the regulatory framework what's actually going on their word becomes the clearing house effectively for global financial fraud london's had a history of being that clearing house since before the first world war when u.s. banks have wanted to circumvent any regulation that has happened from before that to glass steagall nine hundred thirty three and so far as they fail they find a place in london they open it that's where they learn from that's what they've done and other institutions have done that as well and what's happened is london has never kept up with. or have the wherewithal or the desire or whatever to keep up with the sheer volume of transactions that go through and banks always take advantage of the weakest place to do the most business. let me first time thanks what's being on the k

tainted bundler he is the pink slime of bundlers and but however max one point six billion a missing m.f. global funds trace why do we got the money back investigators probing the collapse of bankrupt brokerage and i'm global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firm's clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course. from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to lumber but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealing

global funds trace why we got the money back investigators probing the collapse of bankrupt brokerage and i'm global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firms clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to lumber but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealing the money i mean this is exactly like a three card monte guy in times square who steals all of your money b

global funds trace what we got the money back investigators probing the collapse of bankrupt brokerage and global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firm's clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course. from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to lumber but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealing the money i mean this is exactly like a three card monte guy in times square who steals all of your money but

global headquarters or office in toronto or. going to kind of a tour and you probably could come up with a great list of banks around the country in the world that need to just go go up and in symbolic flames i see also you play with some of the tag lines in the advertising for the banks yeah sample citi group they have a tagline live richly oh i love that you were the images are you know kids getting you know mainlining alcohol or downing you know like a box right that's what we've had on wall street for the last twenty years probably financed by easy money easy credit yeah it's die and i see in the money spigots just that some point of course the easy money will window will be shut and then you're going to have possibly what will you have simply people lining up to peaceably enter prison or will be something else another outcome. i mean that hopefully there won't be chaos but i mean look at look at what look at what's happening around the world you know i mean america is so large that it seems like it's happening to us in slow

global funds trace why do we got the money back investigators program that collapsed bankrupt brokerage and i'm global said last week that they have located the one point six billion in customer money that has gone missing from the firm but just how much of those funds can be returned to the firm's clients and who will be held responsible for their misappropriation remains to be seen of course it does seven hundred million dollars was found in the u.k. subsidiary six hundred eighty million dollars with j.p. morgan and another two hundred twenty million was transferred inadvertently of course. from the accounts of securities customers to those of commodity customers that money is now in limbo amid a dispute over which customers it belongs to so it's gone from being vaporized max to being in limbo oh from vaporised to lumber but you know this sets a horrible precedent they stole one point six billion and they got to return some of the money more importantly they got away with stealing the money i mean this is exactly like a three card monte guy in times square who steals all of your money

global headquarters or office in toronto or. going to kind of a tour and you probably could come up with a great list of banks around the country in the world that need to just go go up and in symbolic flames i see also you play with some of the tag lines of the advertising for the banks yeah sample citigroup they have a tagline live richly oh i love that you were the images are you know kids getting you know mainlining alcohol or downing you know like a bottle right that's what we've had on wall street for the last twenty years probably financed by easy money easy credit yeah it's die and i see in the money spigots just that some point of course the easy money will window will be shut and then you're going to have possibly what will you have simply people lining up to peaceably enter prison or will be something else another outcome. i mean that hopefully there won't be chaos but i mean look at look at what look at what's happening around the world you know i mean america is so large that it seems like it's happening to us in sl

global headquarters or office in toronto or. going to kind of a tour and you probably could come up with a great list of banks around the country in the world that need to just go go up and in symbolic flames i see also you play with some of the tag lines in the advertising for the banks yeah sample citigroup they have a tagline live richly oh i love that they were the images are you know kids getting you know mainlining alcohol or downing you know like a box right that's what we've had on wall street for the last twenty years probably financed by easy money easy credit yeah it's die and i see in the money spigots just that some point of course the easy money will window will be shut and then you're going to have possibly what will you have simply people lining up to peaceably enter prison or will be something else another outcome. i mean that hopefully there won't be chaos but i mean look at look at what look at what's happening around the world you know i mean america is so large that it seems like it's happening to us in slow

global headquarters or office in toronto or. going to kind of a tour and you probably could come up with a great list of banks around the country in the world that need to just go go up and in symbolic flames i see also you play with some of the tag lines in the advertising for the banks yeah sample citi group they have a tagline live richly oh i love that they were the images are you know kids getting you know mainlining alcohol or downing you know coke you just get like a bottom right that's what we've had on wall street for the last twenty years probably financed by easy money easy credit yeah it's die and i see in the money spigots and just that some point of course the easy money will window will be shut and then you're going to have possibly what will you have simply people lining up to peaceably enter prison or will be something else another outcome. i mean that hopefully there won't be chaos but i mean look at look at what look at what's happening around the world you know i mean america is so large that it seems like it

global headquarters or office in toronto or. going to kind of a tour of and you probably could come up with a great list of banks around the country in the world that need to just go go up and in symbolic flames i see also you play with some of the tag lines in the advertising for the banks yeah sample citi group they have a tagline live richly oh i love that they were the images are you know kids getting you know mainlining alcohol or downing you know like a bottle right that's what we've had on wall street for the last twenty years probably financed by easy money easy credit yeah it's die and i see in the money spigots just that some point of course the easy money will window will be shut and then you're going to have possibly what will you have simply people lining up to peaceably enter prison or will be something else another outcome. i mean that hopefully there won't be chaos but i mean look at look at what look at what's happening around the world you know i mean america is so large that it seems like it's happening to us

global headquarters or office in toronto or. going to kind of a tour and you probably could come up with a great list of banks around the country in the world that need to just go go up and in symbolic flames i see also you play with some of the tag lines in the advertising for the banks yeah sample citi group they have a tagline live richly oh i love that they were the images are you know kids getting you know mainlining alcohol or downing you know like a box right that's what we've had on wall street for the last twenty years probably financed by easy money easy credit yeah it's die and i see in the money spigots just that some point of course the easy money will go window will be shut and then you're going to have possibly what will you have simply people lining up to peaceably enter prison or will be something else another outcome. i mean that hopefully there won't be chaos but i mean look at look at what look at what's happening around the world you know i mean america is so large that it seems like it's happening to us in

definitely and it was done by none other than john corazon at m.f. global back in september of two thousand and ten and finra regulatory agency for the broker dealers sent out a survey to all of its brokers asking them to report on their sovereign debt exposure and m.f. global replied in the negative that they had no such exposure in fact they did they had significant default risk and credit risk in the broker unit to these sovereign bonds but because of the way accounting rules are written and they were able to book them or keep them off their balance sheet they replied in the know so once again the firm using the most convenient definition at the time when it's most convenient for them a lot of magic going on a lot of really good magicians pulling the wool over our eyes now one of them at the top could arguably be jamie dimon and he when you thought about him before this you thought about him as railing against regulation railing against the volcker rule behind the scenes his bank lobbying against the vocal or lobbying for loopholes then he goes on

definitely and it was done by none other than john corazon at m.f. global back in september of two thousand and ten finra regulatory agency for the broker dealers sent out a survey to all of its brokers asking them to report on their sovereign debt exposure and m.f. global replied in the negative that they had no such exposure in fact they did they had significant default risk and credit risk in the broker unit to these sovereign bonds but because of the way accounting rules are written and they were able to book them or keep them off their balance sheet they replied in the know so once again the firm using the most convenient definition at the time when it's most convenient for them a lot of magic going on a lot of really good magicians pulling the wool over our eyes now one of them at the top could arguably be jamie dimon and he when you thought about him before this you thought about him as railing against regulation railing against the volcker rule behind the scenes his bank lobbying against the vocal or lobbying for loopholes then he goes on mee