Max Keiser Report: Crony Capitalism & Collusion with Govt (E466)
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss Tiny Dick Fuld, the former CEO of Lehman Brothers, who is now working for 'pennies' while the world tries to recover from the global financial disaster that he partly created by acting like a penny stock company. Max and Stacy also discuss interests rates on savings accounts being slashed across the United Kingdom as banks no longer need to attract deposits in this post Tiny Dick Fuld world in which the government and the central bank provide unlimited 'free' cash against which they can lend and in which hunky Mark Carney has been brought in to oversee the new property market 'boom' times. In the second half, Max talks to Paul Sommerville of Sommerville Advisory Markets (sam.ie) about the story of Anglo Irish bank, the toxic hedge fund masquerading as a bank which was run by charlatans lending to just twenty or thirty toxic individuals. The Anglo Irish story is one of crony capitalism and collusion with government and regulators, one where the Chairman's loans were bed and breakfasted and over which the burnt speculators are outing each other's role in the crimes.