A go around. A few minutes later the airliner came down in a highly populated residential area near kharaj International Airport the horse that actually got a funny for just the last words we heard from the pilots was that there were technical problems he was told on the final approach the both runways are ready and you can learned that the pilot decided he wanted to go around for that reason the technical problem was well good to go and look at that now. Airplane parts were strewn among burning homes Security Forces were sent to help the rescue operation and managed to pull at least 2 passengers from the wreckage pakistans Prime Minister imran khan tweeted saying that he was shocked and saddened by the crash offering prayers and condolences to the families of the dead. Aviation apps identify the aircraft as a 15 year old airbus a 320. 00 it was one of the 1st in p. I. A. s fleet to restart flying this week after flights were grounded to stop the spread of the coronavirus. Crash investigators are expected to arrive to begin the search for clues and find out what went wrong on the relatively short flight of an hour and 45 minutes from lahore to karachi the crash coincides with the end of ramadan normally a busy time for travelers returning home for the need holiday its also 4 years since another air crash in pakistan during ramadan killed all 47. 00 people on board the hearting aljazeera. Brazils corona virus death toll has now passed 20000 almost 1200 deaths were recorded in one day and Health Experts say the true figure could be much higher due to a lack of testing the World Health Organization says south america has now emerged as the new global hotspot for the pandemic so the american has become a new at the center for the disease weve seen many shows american countries with. Increasing numbers of cases. And clearly theres a concern across many of those countries but certainly the most affected is that at this point. We all should know this. The government of brazil has approved the use of hydroxy chloroquine for broader use but we do point to the fact that our current clinical and systematic review is carried out by a kind of american Health Organization and the current claim that Clinical Evidence does not support the widespread use of hydroxy chloroquine for the treatment for cope with 19 now the United Nations says yemens Health System has essentially collapsed country has reported about 200. 00 cases of covered 1030. 00 deaths but yemen has one of the lowest rates of coronavirus testing in the world at only 31. 00 per 1000000 people. U. S. President donald trump says hell order the u. S. Flag to be flown at half staff over the next 3 days as the u. S. Coronavirus death toll approaches 100000 all 50 states have partially reopened after 2 months shut down even though some are still recording a rising number of new infections trump has called for houses of worship to reopen this weekend saying hell override any governors who dont allow it. Indias Prime MinisterNarendra Modi has visited areas hardest hit by the regions most powerful cyclon in decades at least 96. 00 people were killed in india in neighboring bangladesh survived the damage done by cycling on pollen from the era before announcing Financial Aid for the states there are concerns corona virus could spread among people in emergency shelters youre up to date with the headlines on al jazeera we will have more news coming up after the men who stole the world thats coming up next. It was july 1st 2000. And was living in humber german at the time. It was in my flap with my wife that i had just married. 2 men came to the door. Of the not recognized did not answer the door. Minutes later i left the building walked to the car and 2 and then a 5 towards the Police Officers showed up in front of me and in german basically identified themselves and said they were there interpol f. B. I. A warrant come with us. That was not at all what he was expecting obviously he looked at his wife and blew her a kiss and it was pretty sure he would never see her again. Thats a feeling of total fear because you have the total unknown of what the future holds. So if it was taken on a plane to chicago. Which is where he had been criminally charged. And entered the United StatesJustice System which is a really scary place to be. Facing charges of ups gone down with 460000000. 00 from the f. B. I. For fraud. My name is Philip James Baker and im the former managing the 1000000000. 00 vested fund collapsed during the financial crisis. My story is a rise and fall to redemption story. Ive been rich. Ive been on the top. Ive been behind bars. I know what it is to be called a financial criminal. But now im free. And i want to speak out. Because of what i saw because ive been there i can tell that if we do nothing. Everything can happen again. They had no consequence. The titans of wall street basically faced nothing. For my life i went to prison and. Some people would say well you know what you did wrong its fair its just. Argument could be i agree. But what about the people in the titans of wall street. The business started in the basement of my parents and this company grew to be a 1000000000. 00 company. It was. Set up a hedge fund designed to trade in commodities. Prices of oil coal things like that he was a marketer he was the client. He was the one who would go out to wealthy individuals or institutions and get them put their money with. Clients for Global Investment banks from around the world Goldman Sachs bank of canada. H. S. B. C. Bank of nova scotia. U. B. S. We offer it in close to 40 Different Countries around the world brazil. Japan and hong kong obviously throughout europe. We were making. Offshore accounts. I was living the dream. Werent worried about anything but in my particular instance i had something to worry about. All sorts of investors all over the world were very eager to put their money with him because he was generating very good returns and thats what investors want he turned out to be doing Something Else which was he was misappropriating the investors money and the investors thought they were achieving these excellent returns in reality they were not full baker and his partners were essentially making it up they were lie. The 2nd thing and in some ways the more damaging issue is that as they sought to recruit additional investors new investors which were essential because they needed to paper over the last the money that theyd already lost they were in their prospectuses in the documents they provided to investors to show investors how well theyve been doing their lying there to it when they were saying instead of having lost 50 percent of their assets in the 1st year they were saying oh look at us weve got this long track record of very impressive returns. They were lying not only about the returns but they were lying about the longevity of the fund so they were saying they had i believe a 14 year track record just wasnt true that they had not been trading for 14 years. Trading results were falsely reported and hence that was a fraud you can do that one penny not reported properly is wrong. The victims were everyone who invested with. Investors who lost their money initially investors to put their money in after the initial fraud occurred and so there were hundreds of millions of dollars that vanished as a result of this. Ive been asked why did i break them on i wanted to protect what i had money family power the liberty business all that but to me how many people say no i dont want the power i dont want the money. And walk away. Were you says that you are right good of women were this. Is very interesting when you see your name. Philip james baker versus the United States of america. Its overwhelming. Then you face the assistant u. S. Attorney as hes looking you in the eye and when you go through that circumstance there are no words that really can describe the depths of the loneliness and feel of the moment. Ultimately. Completed a plea deal with the United States government. I was sentenced to 20 years. For wire fraud. Bill because a criminal is he the type of financial mastermind that caused the financial crisis absolutely not this is a guy who is was not very sophisticated about his crime was not very. Malicious about his crime and but he admitted that he committed a crime this is a classic example of where the Justice Department takes a shortcut they want to generate publicity for themselves as going after financial drugs and Everyone Wants them to do that. And yet time and time again the people that theyre going after are these little minnows theyre not going after the big fish theyre not going after the bankers for the most part theyre certainly not going after the Senior Executives at the banks or other big Financial Institutions that were the Decision Makers leading up to the financial crisis. 10 years after the financial crisis except iceland. How many white collar criminals are behind bars. From Credit Suisse is the only banker of wall street to go to jail related to the crisis. Just a few 1000000 not really big fish not a true. Only one big bank Top Executive name. The number of people convicted of crimes linked to the crisis in the u. S. According to the Financial Times 324 people from main street. Wall street chief executives have been to prison. Even though there is today absolutely no doubt that wall street executives a politicians were complicit in creating the crisis. This is the story of how massive global banks made billions. By packaging toxic Mortgage Loans and Financial Products and sold them all around the world. The american politicians pulled the trigger. It all started with a political philosophical or a grand admission of allowing everyone to own a home. Our government is supporting homeownership. Because it is good for america. It is good for families. It is good for our economy. Part of the American Dream that was pushed by you know also. Its of president s clinton bush whatever for years was homeownership. Authorities kept Interest Rates very low in order to make money. Very used to bore. Wall street and politicians had agreed to work together. To wall street with the pursuit of profits. The politicians with the pursuit of government interference on economic growth. Which could be turned into election victories for years to come. This was the beginning of the housing bubble. When the bubbles expanding everybody is aware. Everybody is a genius. The lenders bank money the Real Estate DevelopmentCompanies Make money the construction workers make money Everybody Loves a bubble. But this was a devils deal between politicians and wall street. The setting to a perfect storm. Of what happens in a booth is lenders take more and more risk and borrowers take for the race because they both think things are safer than they appear to be and one of the ways they persuade themselves. To take more risk is through financial innovations. Wall street created the risky loans called subprime to americans. And people afford to pay the bank loans. That they had just applied for. The public were given access to 0 low income and even no job. So if you wanted the absolute craziness it would be the ninja loan so ninja stands for no income no job and no assets and. The idea is that you would lend money to people that gave you no information. About whether they had any income with the at. The assets. It will allow you to grow enormously because now you can loan in the us context 2 ands of millions of people. Able or. How many people out there are there who cant. Get alone. Tens of millions of people in the United States tens of millions of people in france in these circumstances. This goes under the general category of predation in the United States the people that were targeted for the worst loans were overwhelmingly a combination of the 4 demographic factors blacks latinos the elderly and females that is incredibly and so why almost everywhere in the world these things are crimes. These talks of loans became a gold rush for the whole u. S. Banking financial industry. All the major actors of wall street want a piece of a song crime part of. Goldman sachs. Lehman brothers organ Stanley Merrill lynch their sterns j. P. Morgan citigroup and so on. The friends extended itself the loans were sought by the public by falsifying their own financial situation on loan applications. Therefore the public and banks were complicit committing bank fraud. My name is richard cohen. I was Senior Vice President and business chief underwriter for citigroup. At the time citi group was the largest bank and. It was my responsibility to make sure that the 90000000000. 00 a year that we were purchasing were going to loans that were originally aided by other banks and Mortgage Companies these not our policy standards. In early 2006. I discovered that over 60 percent of these mortgages did not meet our guidelines they were by definition defective when i discovered this in this was june of 2006. Silly me i thought it was my job i started issuing warnings because i was supposed to make sure that these met our policy guidelines. And i sent an email i put it in my weekly report i made Committee Presentations im not a shy guy i cornered people in the hallways at the water fountain and everyone say yeah we we we know we need to fix that but nothing would happen and through 20062007 the volumes kept increasing and the rate of defective mortgages increased from 62. 00 in excess of 80 percent it was 80 percent of these mortgages that we were in terms selling. And giving our representations and warranties that they were they met our policy guidelines did not meet our policy guidelines this is misrepresentation that is true as a matter of fact it was fraud. Ive seen plenty of alone documents with my own eyes that were falsified and the borrower still signed them as if they were correct. People who were typically hairdressers gardeners and such reporting incomes of over 100000. 00 a year now their actual incomes would be in the range of about 16000. 00 in those cases their income is inflated by it 6 times. You would have the waiters in a restaurant showing that they made 150000. 00 a year i mean that clearly is. It is out of line but nonetheless the long type permitted that to happen. Richard bowen and his staff very carefully very professionally are documenting. That these loans their reps and warranties are false. But city is overwhelmingly turning around in reselling these loans. Citi group did not want to know because if it looked ringback at these places it couldnt possibly continue. To use them. It was all about generating the revenue. The people who worked on wall street conceived of the idea of securitizing mortgages. Packaging mortgages up into securities they actually arranged to buy the mortgages they would pack of them up into securities they would file documents with the Security Exchange commission that they had to be able to call them securities and then they would sell them to investors all around the world and all along the way they were making money was almost like it was a perfect product that anybody who touched a mortgage i made money off of it. November the 2nd of 2007 sitting at my Kitchen Table i put together an email. And i simply emailed to Robert Reuben who the next day on sunday at the Board Meeting was named chairman of the board. I also sent it to the chief risk officer the chief Financial Officer in the chief ordered. I said urgent read a meeting at work Financial Issues i put that in all capital letters. I call for an outside investigation i said come in here from the outside and investigate what is going on here because everybody here already knows and no one contact. Throughout november throughout the summer there was no contact no one said it. Will tell you that that particular point in time. Before i would even get in my car. Is doing what they do in the us im just looking underneath my car and. It was a very frightening time i. Said you worry the 6th i received there was an email that went out with regard to reorganization and in that reorganization i was stripped of all my underwriting responsibilities that next week i was put on in the street he believes and told him not to come back to the back. And i could as an infant i was there while there and. They mad that i was sad that could leave dizzy and i mean look. Bad as if caught on the other end. Of a model and. The it was are that much of mother caught on that kid and not always but often the most are that the end of a bob part of that and then thats at the fly but the addict to it what can they met that he had to get asthma what men and. Ive worked it out as their anger since its launch as a principal presenter and as a correspondent with any breaking news story more to hear from those people who would normally not get the voices heard on the International News channel one they would all be very proud of was when we covered the whole earth quake of 2050 a terrib