Years or 80 years to even get that little sliver that they got. Rex thank you. Below, mr. Matt taibbi. Matt. Im sorry. I am a young journalist. Im sorry. [laughter] im doing my best to bring awareness. I am currently a news correspondent hot for a notforprofit trying to do my best. To be honest i feel extremely powerless, and i am doing my best to try to bring awareness and inform people. I have done my research. The only thing that i can think of doing because i no like you said on the daily show, it is a fixture. This system is almost impossible to tackle. You have to work from the ground up. Basically we are trying to get the power back to the common man. Even though it kind of sounds like and accused of being a communist. People bit edgy about it. But your thoughts on workplace democracy . I have seen an Organization Called cinco. Different organizations basically have open transparency, Profit Sharing with employees and allows them to have different models. They feel like they can actually be a part of the system. And i just want to know what your thoughts on that i am all for that. Hopefully that is what my new company is all about. I dont know exactly yet. Its always good when people take ownership in what they do. This gets back to being more of a capitalist. It is also just good business. When people care about it they have a stake in what theyre doing. They tend to it stay later, put more Creative Energy in. I am all for that. You know, despairing about being a journalist and worrying about whether not you are having an impact, just dont worry about that. It is not your job to worry about changing the world. I grew up around journalists your job is to do what you do and make sure that you are not lying when you do it and make sure to catch people when they are lying. That is an Important Public Service already. It is more than most journalists do. So dont get down on yourself. [applause] thank you. Hello. We have all been writing about issues like this since 2008. It is almost as if the wall street tycoon, almost like caricatures. Everyone in between, what do we look for to see if that is happening . Well, there are couple of things. First of all, good question. I did it all the time. I am in the middle class, so this does not matter to me. That is actually thats a couple of things. If youre in the middle class do are likely to have been a victim of whitecollar crime by the financialservices sector. If you own a pension how many people here have a pension . Anybody in . Anybody lose money after 2008 . So that was likely. Fraud played a huge role in what happened to Pension Funds after 2008. If you have a credit card, mortgage, any kind of floating rate investment you were affected when the banks started monkeying around. Basically a gigantic antitrust case where there were playing around with world Interest Rates to suit their needs. If you bought a can of beer or soda in the last four or five years you were affected because there has been manipulations in the metals market, aluminum, zinc, copper. There has been manipulation of currency rates. If you have savings in dollars or savings inovings in n affected. If you have just a savings account you have been affected by the bailout and by the fed policy because you are no longer earning as much interest as he used to. A lot of elderly people used to live off of their see the incomplete you cant do that anymore. Interest rates have been slashed to nothing. People in the middle are affected by all of these things. On the justice side would argue that i interviewed people in this book who became victims of police abuse because like anything else stop and frisk ran out of its normal cash of victims and started fanning out into other neighborhoods and types of targets. I am not saying that is likely to happen to anyone in this room, but it is important that we all learn about what is going on over 2 million people. That is a major, national crisis. Whether you have or relative in prison or not, that is the biggest prison population in the history of human civilization. Something weird is going on. We all need to learn about it. I was wondering if home five when you speak of restitution i was wondering how often that money is collected . Where that money actually goes . That is a good question. In the case of the settlements from what i understand when they collect settlements that money basically ends up in the budgets of the regulatory agencies. It for them. Again, this is part of the argument they give you. Well, we can fight them for ten years in criminal court and loose with a can give us 2 billion tomorrow. I have like, well, my going to get any of that . Why do we put people in jail . I had to ask this question. In no, when law professor told me its for three reasons. This stops the individual from doing it again. That would be true of this. Also it would be effective with this kind of offender. The third thing is justice for victims. So even if you have been the victim of fraud, the victim of a financial crime, one of the reasons to put someone in prison is because the victims should get justice. Well, are the victims getting justice . I am not seeing that. In the case of the foreclosure, for some of that money to end up going toward helping people in foreclosure, but that is not typical. Typically the money disappears were who gains from that other than the people who concluded the settlement. Many times class action, private class action complaint that the government rushing in and making settlements prevents them from also giving settlements out of the same group of actors. The private claimants, the victims to bring a private suit, less left over for them. Sometimes those settlements actually work against the victims of these crimes. To questions. Are you his brother . I am his son. Many years ago the professor wrote a book called rich and super rich. One of the problems, our tax system, so many of the loopholes of the rich, you know, we are definitely leading toward a plutocracy. He wrote this back in the fifties. Do you think that is true . Oh, yeah. Okay. If it is, what are the chances of People Like Us in a suit against the corporation, productliability or creditcard manipulation or monopolistic practices . They dont enforce the antitrust laws anymore. There have been a lot of successful private classaction lawsuits. Thats a good question. For instance the sub prime mortgage loan. While there have been no criminal case is really there have been a lot of private class action suits filed by state Pension Funds or city funds or foreign hedge funds. They want money back. A lot of these companies have been seriously gained. If you are a victim of that then you have a decent chance, especially one of the futures of this is the nobody communicates any more there are all committing grotesque conspiracies in writing everywhere. When it comes time it turns out to be pretty easy sport for a lot of them. And quickly i know everyone has to go. The answer to your tax question. Come on. When the match romney pays a maximum to 15 rate on his private equity work and a fireman, whenever, 20, 25 percent for and come, something is seriously wrong. Most of these people are not paying anywhere close. They have a tiny amount of what you would call and come and Everything Else is either Capital Gains are carried interest. That is a scam. Has to be fixed. Thank you. Sent you very much. It seems to me, they seem to be doing their job in terms of protecting. There being used as pawns. I am wondering, what do you perceive . There are a lot of questions commander know everyone has to go to read a lot of frustrated policeman. It is a numbingly inefficient way to do things police do not have the leeway that they want to have to make quality cases anymore. They have to write tickets. They hate it. And the people who tend to rise in the system are the few who enjoy it. They tend to be this sadistic, dumb ones. And then that is the problem there has been like in many professions their is a day the emphasis of appreciation for the person who actually knows how to do the job and more of an emphasis on the person who is able to deliver the stats we have to stop now. Right . Thank you very much. [applause] hrna lf lce,evyby. Thksorranghe wth toaktomeca enrprisenstu tay na iarnd a a sintcharnd dec t stieere. Toyevts pel scsi ofohyos les ok inofttk prenvearinrniol w,ndlol lfe. R atisngo sile weilha the dcuio a th ot uueions a ve a gd btscsi t e iroce mha lis anary chof as y cee fmatial inur hndheha diinisdcaer chl is rossft oh ivsi,e anav lo a graduefhe top n proam araatof rvd. Asrien ohe lawof wa haeyai te tinal serityomttnde a rm pfeor a t war lle. Was lalouil tthfb dety decr t l 0s ank yoo f jni us da no l minode jn yoo. He h bn tehi lt univertyf cifni beel lchl fore th 20 yarndaseen coeae reae f t pa ca rm dutsian attney nel dawlef jti thasndlvma adutr felusnd sols wswaredeiapor aninrniol w. S st receooisik s he bksn tt tres noinquehy otingn hi gument noohe lacor teatnalure. Olse cldeviti hor drihathur inraq mht nha bn imrtt w clm. Case jei fed co ctrctit td o rekinnnsiv acahaceoivar a an. Inf aac iep seou wk th gatitn shreer thk and reewhr dpl hd coumio. Ilprocts sk t poan qstions thki outha the sws shod wh i ceso hag obosri. Hnve yo i is gatleur t b he a ae. Has bn yew fm ho f t lst t a. Kell heswaroho, e op a hpi he, t foset ret iu to eenve f m t le he. T as en are t yes. Issy10 aivsa a ae thoois acalth odt of tse t yrs ard woin o ithen i meerefte tera war th i myfft toa see ohe iq a afanta w aheth nf nfctweavbe gng thugas cotr i gatoavary ashe deto hes ohefeweoe tt ar iert tams, naonecitnd inllen. An iou bemif h dit itoenn of h easrisisrtio o jeern vwfpo ae ha t vw jeernad a bu vw tredey prti a n ieoy. Ted t ssine. Itss paso he thikle ary mi wnhentend haeya o t rr lest e naoncoeg s gat tbe wit tm th d iooorrdo diuson i ntoakon rogti mymeor, jn w lree siern is. Iany the wtihe ck sin itotr m d idt di sl iut heidt blshas ou. G herefit. Is seosttwoin foritft lchlnd coin lk my o u o the pal e iert tial secitn l wch islloora. Hes spatn f the ok hes rpoib ful mht d. Ju wt tyo t sim thisndheaytt lkg aut rsi a t im aay aut est ia thsile thsind ihi th rsi ioviof crea st hilite ts isha th creinrniol leg syemolcte cutyi thk,a il. Thon tat cterodh uned nti a teri unl. The pma re fcis imallenfefse orutrid tun scuty unl. Thk atul i sticallyinrrt. An ts i tky odrow wionstliin t agf naon thid tt t rulehi crinizioofar haen ck o the cer a tay thugthgrt dial inrs y lk at tust wr adioan tor wich is ry wppnatli lel torccdio e ur. Star tortuly is muc mouae a l abtot of tng wekboutod kemataan inrvti d prmpvear iwa tt bondhe spl iah ufortherha sel denses ilga asohiha initiollani in cotrs e n fainh laof jtar hioral a i donthk ey a dng it dehaar iel toy. Initiollthere veee en ors taver enutrid t a we nn sfefse ahe unaseeirporls to opit. H vaon of uai i st arfit ifoueqrembs t cuty cncoutri meurof areio a cna isoigoetnff t reond toia o a mitaengentat mht are t sth cnar ereerhe re bng accedndhe arin le efrt cat ste magecoliftorar iioesnt wk a it rll ngog oorkn e future atsn mnha we watetae or w caot reo an coro dungheerd,hemot o deh and dtrtisaln a lon han sty. Thwher of gnud e dehsmre werrs haalno lel sce t benngf t mdeatn atst. Th ian cribecd bt i nthk snyin to doi inrniolla. Liticascncanstia y eraran ass. Eriryean nle weaponkethaed a peivananro f the grtporso meo nfct thbanc ofheup we of t cdar ppss t eapors ainhe coapfheovt io a thrif e it ste a aupie oeand sti abit thgrt urf wa the two rl tat kl to pele han sty,oth ard iure a we beeen eopn wend re tth rt oherl speusavaon rae a gd rrentio ofha preed. Tilth, tre weodehs mb inure. Awg ofewborderof eupeyrc th one aa tat pdud all ofhe colis ataud ny deasbeme aeaful ac th ireonblfo nle ap a t sugeeten th unid at a t sie unn a tnid atol matainnaonorr. The a tea tha ord whic a binos b wte us tca ruenaon a noits resiistis li an mbe iclrly ss. Chalngauedhe olerioof wmd tenogy thri ofteationa teort ou. V lge mataan taopes th i wre i rhto y ve w cncwch ulha gves tit o is bok borke aea toit ctain of ws der pp bauf thea o teatnala o y tng el oer t slf dens it stssro teeng in alr ac lkeaq so,he rae,h sut ch s here aras at diougeti fm usgorecseheas t thworld eog t b mh hierhan acof nflict unr teatnalaf oscoflts wld legal. Thk inrniol ste ad seofulndug t coagth pors tse foeoonolhoinf thatsh t rniol st s itoet ndo wrybo wa bwere wefor inrnio l dsna ch eecnd tieas be kpt f oth reon. Th i ot unrsndhe tsi a tis isimarohe w lnd onic solshibo contra oor la thlaenur you bach thotr i y c do meinmoffie and atsomthg lye thghov for my cas unl jugenhe 7s ath ivsi o ico isie gatoreil a i taw acw. Lemeurno th ts anabusand waso respdoruiand mbe ts a gocoint f scsi, ou it dsn haveo. Shgt ipa paled a thlty sms paryz ato donesns the insi o rae. Cnoheun o oth orgazaon coere. He are sme tinhi weou dtosp to rsi icw hen wch tnk wod nste wit ts prch teatnal lahiay se astrblom orlel. Th sulrmat tta trty th litthnid at an rsi t 1,55 nle weon ami o t devehies buits afrt tat t unedtas d ss t sa on thrsal eve tug ss itojti power ou t wldnd tnid at i dsn meenor te unedtas tatusa a rtr. Soonwaesibghe sion psintbaoo ouayannd it e t uai w lkit ll trdris. Th oy mity ide a vi tokrnes mlsea ea ev uerrede caer whe thsoetinde ahast didor tangi t be fo. Th wldeifcund e arr t uerth i thk is fe ndiv liryido rae pp relsh mhte unrusanonol. Thd in tinks ste the atialst msi st i eophatheba adniraonuld f a seoferio. These id. Ifruiaano grod a inditsnehbs t unitedtas ulse a sialf ppt who ot onhe gund ocoli wh ruiay pti tsyems. Rkedfo. Ysm hpe soetso baru aeld ctrut t f of t sieunn whyot gveitnoer and sulen or opatn thruian ria. I nse why t ute steshod ptns wh ss wn it isshti the cilar towdhe gi. D initioll cate an alrniv t the un w we nive voeo unie liusandina. Decriewhere y n an initio ad proes t letme d c b fose uny unieth a decrs a hvehea lu an t utestes thk u vy ch lk fwao tcoen. Tnkoullorom ou thaveavg me. Thk e pfeors rit. Thecitouil i bren hemeiodhatheumrf grt w wars t pple thatavin eapor rs i dowor zoince th stutnf t ute stes un t e nfct aun t wod dhenumber a gin a ove trl andhe ide sin youan prum wfa b teeng tse coli an evti the fro havg thhunirisaerhey bemeaseis u force t s usef rcth i rbde bhe arr le wca gt r ss t are tss whee wanto u foe. Rtle ofefseoeant apy i ny acs. Otrointheross ma i tres an unrcurra otishat ha tou satacce inditeawiines tgo bendhe tarr sys ey areupsedoo tms usior tevt mataanris o oth saer whhe itsietna in mb ordi inngde. A cleiv inrvti keatancovo. Os he encriced a so lel ernoer bhe veeen pistom lel ornoerhe kdsood th h ne. Thcerathe, or of the cerathmeoheoos t sahoo w furuthe wasoing toe tt befito han lfe. H and enoen d yiouavto calla anhe t nets tt e gngo aru fromsi rcan here ahe ves th wl sed aer a e livehawi be imov a rultoi wter ppsheert bi rianret. Anwhe ihi tt a horae eaut iraic itsoi tbe diffult. Okt e ame rhan anveoneayo co t nyeoe b killed wh chesn e cenry ileupendheest ohe wod oobyndwatcd. Ateeiket ul c t r teention buookingt e on thaas haen ithlaewar by iaoodxalehe od tt de. Whev y inteen and inrvtis ne wd t atoure din i llg op. Yongoo ind ll op. Etr the byonol domniti op, orhe aiefsepeleoromf thbypealrc groundors eatck. Yoargog kl tse pelend setes y wl llh wng oe. Yowi k viannd h ller ma. The fncnrisher itizorhe amntf llerdage in ipli yowill hd u asayhe artulypele w dd wh ty ou nha. An y t we v. I nkn howo tl u h ma ppl we kle in lia. T the stouans sang i wha no t th ihatou hhaed d y wlaoonnc pele w a oos tth aconhi ihecase hawe inrved and yre gog onncheor you sad 0,0livey inrvinthe oay yo wld bie you. Wld act bhe frchlgms americs t goacn aretais ntl eros connd non wld bieou sed 8000lisoi d eate ofhiea whe ge eris vaed inrvti a ishlde kendouav t bele eyatone ioio s w are tinou at o itein usha fr lia aq. Lg a you dtxpt peleo an yndll ppt everyinyo d beusfopotil rso i guane rsi and cna llrici t tis ke yoha tbe ppado ce tt ao test y n bk tha cim isshefote fatue avde cote m. Iavbe heeft i grt tha arum le is ey areedat t t inplof hin on dete ou terestg d rd tocs iss qteasnang for me caen jos th nirsy hsreal hiel to a cadn teatnalidli inrvtialm ic i siting. Dhe b wchoud inigng turnt amssor fothit tis ma h mth porsutfwe whsth . Ths class pce o wo. Heresll oecsss. Thma,eeks, agtu i ao apeng ad giin oinrniol retis. Ea itdiertlha evyo end ces t a ffenncsn ou wt emdd ith dori. D atctnehe alws hi t mke an aumtfhy u n ve pncle o prenond t moli. D e raty is td toore of asn coeponoros befit alis hearesas on a picf glal cmood it iss reivarmend clsiyo. Is ttgo o d kevethgse, i dend hn jesheonptf th tdion a o adio taye tch is y ghr t ep wit stcae, ahotysues anth rptir st buhe dsn t authe dome o min mban an nocoatce. D oer prtnd aur ertwek tresoi ba dfentoreas. E gat win isine tha yshesesheohnan inrv ire ryha, n nay pi. Iha f my eranto tcth te ac hes yi ierni ith casoetol th you nheigo tr lv tmnheteenon cae e aumio is ppl yoar teeng itemac e vaes yave an s erannd thevaes y unrsndheoro be th iunea an ntnly ttuthe suti iou stath ghevnd d y go onofheresyem iow oureame weavon tou a suge r qlifo equgh. Tfou aerinro kertdojesheha a coepf howheom which nt aioti o eal gh swhaal dou nt phha w ss t amic wa nyarn e utestes ar restghearin y. Erdoout o oron wol rgef isue ats eog o. Enoutat tatev o exaconnd y th he to iv d io ecicsha is whe tdeils i t tas. Are n gd aatn budi. He enooatoccuin thmeca wayf w i coitna rrdewchs wh wse t dnd tn w cuederny andjan. We whewarbu l the netiio i t ionyf wh w sa. D ates wre w a afantaanratoy. Wh ithgo. Fod e ok scatg, puinorrdhoan armes ato rwd, b th togseayhee do o uerand wh o ntto ierneorhe mmod th cole case is t prenonocumndhe actu paswhh qte i thbo, dfe ta pas ulstevren e lirare he rerredocadi be. Yo nereath. U ver hea t canaan oliz t awengacn ches anth locf t dtre i wetereonng ats erelngnd leango chcefliraon th fce o britathiz emo enr e it ste andi nhing reonler ceivsiehe justiebyheecsi of lffee. Is iaoenit alys lf feeusbe mid h nesty an ptitin. E obc wclr. Th bw uhe ip thjefteening t naon lveso dfent anblinphe sh. I eave yithe pbl th veigyta a t unedatnsavg tub beg efcte,heroems ito t b teawi hn roemand tma t de wh trsniol le ke t rmg ohe gba vinmt. We dt havchis, e ste,ut nhe lsshe steasron to rilnt cae ielvehe ste i e ef fce wit ain teity. At jnsskg f ie ullimeca tbeinhe ti stelond he ll i ilerly bs hao t doccioav rewer aunth rl th itheeppado o t bo. Sehe morit b not chis oft unrsndg dtoetnowhahe rld wld looki oour stce we aree wso wn east d aay yar bu i w t fir tim w eltea psint wh dgr inlica sennd we toeeit fm pncons a odle. Th tha iilurt bko e dete asomne who hph. Dn potil iee areat th ft sulev pridt. I gngo throw in tiits. Onofhe ne thgsbo john boo iheege h unckthsclahian teryn e adiond ow tport ofhet habe tenve t las ceurinarcurheas coup cas. D rend thn se sptshi his talki outh jt w tor or tainab w i beme ve cse to poci. Teds t tink a mity efrtaseng de th iin ecoextf a maemrevisl b tre an aloo wt his tainabtnd theol the unitedtas dth moacs wn ces pl lingheor ahais vaab pt tbo. Dd siehe w a coleth,e aumrf thgs ianokbo b i nanooghe me, he al talbo t hto of e vepmt o thechter anpots that ars thncsily swnha thamic p ptipa dn bie then i ce utestesehioth th need t d setngo mata teatnaltali ant