A journalist an investigative journalist to find these crimes you could have tuned into our show or matt there were a lot of great journalists writing about all the crimes that did happen but they didnt get punished you know andrew yang actually has a radical idea for dealing with this in the future and yang says that if he were to become president that he would pass the Public Protection against market abuse act and this would create mandatory minimum jail sentences for financial crimes and of course we know that it was Biden Clinton those sorts that passed those mandatory minimum sentences for crimes in the hood this would bring it down to wall street but also they would be mandatory minimum jail sentences for c. E. O. s and this is the radical part the largest individual domestic shareholders should shareholders be responsible for these crimes at these banks and i think wiping them out would be. And thats what happened to citibank all these bad the big banks were all basically bankr
Sufficient. And thats what would have happened to citibank all these but the big banks were all basically bankrupt citibank and bank of america. All of the big mortgage fraud banks had 0 net worth they had negative equity the shareholders should have been wiped out eric holder said what about the wives of the shareholders and the little kids they would have suffered and its worth sacrificing the whole economy its worth a depression for 10 years so that the wife of the shareholder in the little kid school wont suffer but they still have negative equity negative net worth to make that work though they have been reduced negative Interest Rates to somehow make negative that worth palatable in some strange way but going back to the 1929 crash and then the pechora commission as it was called in many bankers went to jail and then introduced many reforms like the last eagle alike other reforms that were aimed at getting rid of the abuses that. Come when as even and smith said when you put 3 bu
Lets stay with the too big to fail too big to jail because when barack obama came into office he had the opportunity to punish these crimes and the voters wanted that thats why they voted for him he didnt randi why did he not do this eric holder as attorney general is comment about that some of claim that he was too close to some of these groups as a corporate attorney we did not have for a moment like they did in the past with the peugeot hearings the wheeler hearings when f. D. R. Was president you had a series of hearings that actually dealt with the crash of 1029 i thought in america in 20092010 we have the same thing and we did not of course f. D. R. Hired a journalist an investigative journalist to find these crimes you could have tuned into our show or there were a lot of great journalists writing about all the crimes that did happen it did but they didnt get punished you know andrew yang actually has a radical. I for dealing with this in the future and yang says that if he were
But this is a boom box broadcasting around the globe uncovering the world of business and finance and the impact on us all ive been flung and im kristie im watching 10 parents what we have in store for us today for us and see it moving forward but the head of the biggest auto union in the nation is asking questions that this show raised a week ago well tell you what you say and why it matters so much less than the bank of england act that might provide traders with an unfair advantage thanks to an open audio feed and News Conference that one thing done to fix that problem weve got a live interview straight ahead and then later another huge hit for hoover as the company has now been banned in germany why this is the right here in company is just another example of how theyre coming under so much fire across europe this is the one show you cant afford to miss so lets get started. And we begin with the latest on the scuffles between the u. S. And china over that phase one trade deal thurs
States these exemptions will last for one year kicking off december 26th though Chinas Finance Ministry as not provided a value for the imports excluded from those tariffs what we do know is that the waivers will apply to 4 Chemical Products including Refined Oil Products that include white oreo and food grade petroleum well meanwhile there has been a lot of talk about how this phase one agreement will be such a big win for workers that is the narrative that we on this show have been challenging in fact on the day that the u. S. In ca agreement was announced every other business show was praising this as a huge win for the u. S. But heres what we told you. So what is significant about the labor part of the deal wall mung other things this agreement requires that 75 percent of automobile components be manufactured in the United States canada and mexico in order to avoid tariffs that number though was an. Under nafta it was only 62. 5 percent so its really not much of a change the us in