lol cenk has some great sound clips. anyone know where that second sound clip is from? Also theres also this hilarious sound clip he plays with a guy apparently being questioned about an affair. He says something along the lines of "sex?nah thats crazy. i have a wife
What would you expect from people that create money from thin air and then collect interest on it? It's no wonder that these bankers have "God complexes", they are given godly powers by all the stupid people that don't know better.
why is Geitner in the administration? as the head of the fed in NY everything happened under his nose, he was either too incompetent to know what went on or he willfully allowed it to happen. Either way he should be in his current position. Change we can believe in my ass, biggest lie since read my lips no more taxes
to evil, there is legal justification if they obtain money through illegal market malipulation like naked short selling, and nobody deserves "the shaft" just for being middle or lower class
I like how the right thinks that the war against middle america comes from the poor. the disenfranchised don't vote, they go to work. They don't gamble with the economy by taking bets on risky loans, they don't even get loans, most of them.
evil petting zoo is assuming that everyone has the time to personally asses the financial markets. This is a slightly flawed argument. the reason these people get paid millions is so that things like this DONT HAPPEN.
Re: "these people get paid millions is so that things like this DONT HAPPEN"
No. CEOs don't get paid to preserve global financial stability - nor, in effect, even to ensure the long-term well being of their company. They get paid to jack up the stock price and profit. Their incentives are short term. If their recklessness creates short term gains, with long term disaster, they take their $100 million+ and "honorably" resign when the shit hits the fan (as did Citigroup's Charles Prince).
1) There's no legal justification for seizing their money.
2) The American taxpayer got what they deserved. The rich and powerful got the electorate to actually believe that regulations and government oversight of business are terrible things. When the people are so easily duped, the outcome is inevitable. "Oh, you got the shaft while I got stinking rich? Well that's a big fucking surprise, and I'm really sorry about that."
@VeryEvilPettingZoo T. What good is government oversight when it is completely corrupt? Who do you think our government works for? (I'll give you a hint: start with Goldman Sachs...)
Gov oversight isn't completely corrupt. The gov doesn't work for Big Business, as I assume you're suggesting. Yes, there are some (relatively few) corrupt gov officials. Yes, there is huge amount of corporate influence on the politics of the regulation process. But regulation actually makes a difference, despite this. Things in the real world aren't perfect successes or perfect failures. Don't be such a cynic - it's wrong, it's intellectually lazy, and it doesn't help anything.
these people made mistakes, but what cenk is saying is nothing but greedy class warfare, it is communists saying "you have money, i have guns, im taking your money" its nothing short of pure robbery done under cover of "im the nanny liberal government and i know whats best" if you want change in this country that wont attack your faith in god, steal your money and give it to radical unions, and take away your freedom, vote republican.
Nobody cares man. move along. That kind of fear-mongering and overgeneralization may work on the stupid...unfortunately thats not the audience you are preaching too. So show troll. You have been spammed.
@tehant1liberal umm, this is class warfare, but u are misinformed. cenk isnt demanding the ceo's money, he is demanding our money. we the taxpayer gave 50+ billion to citygroup. and now this son of a bitch takes 150 million? wtf? how is that a free market? that is reverse robin hood. the money that bankers now have is OURS. they DIDNT EARN IT via FREE MARKET! they earned it via SOCIALISM BAILOUT by the taxpayer. their "mistakes" only crashed our economy
@WorldOfWarcraftlol1 Do us a favor and look up what the words Free market and socialism means and then look up basic economics and "What do taxes do?"
@Jamez773 government functions on taxes. with a right amount of taxes (esp on the very rich), we pay our debt to China that Republicans created through their failed budget and wars. (remember, Clinton gave us a surplus)
@WorldOfWarcraftlol1 Please Clinton fucked your nation up too. Don't try to make your nations democrat party out to be something it's not. Democrats play the same game Republicans play they just do a better job at hiding it. If I remember correctly Clinton had the ability to pay of debt from Social security measures and didn't. The republicans and democrats fucked you over. Don't blame them when you elected them.
@WorldOfWarcraftlol1 Im sorry but i cant imaging how you can call the bailout, socialist, i have just to assume, you mean it like something the dems would do, like New Deal stuff, it is so wrong in so many ways still, Fox News is perverting even the etymology of the language.
@DarkPractitioner the bailout was socialism for the rich. with the law of capitalism, if the banks had not been bailed out, hundreds of credit unions would pop up across the country. i aplaud the republicans and nancy pelosi for defeating it the first time around, and condem them for Ok'ing the senate's bailout.
@Tuathalful What I don't understand is why conservatives get irate over social programs for people at the bottom of our society while corporate welfare scandals barely hold their interest. The tax payer cash funneled to the capable people at the top makes the cost of social programs look like a pittance.
LOL - a republicans complaining about greedy class warfare - that's delicious!
Haven't you been paying attention? Greedy class warfare was openly declared 30 years ago - BY the upper class ON everyone else - under the banner of a big fat elephant.
wow...if these are the kind of guys with all the money i can only think the country is fucked. america will die but not because of dumbass terrorists sitting in a cave but because rich idiots were to fucking STUPID! to even do anything important in their job. if a father goes to a casino and gambles away his retirement fund the casino certainly doesn't refund him.
This is what is astonishing to me as a finance student. Why do corporations give jobs to maths/calculus specialists who know nothing about the qualitative aspects of trading and risk and the impact of risk? To be fair, there was little oversight of their actions.
Everyone seems to blame subprime loans, and nobody mentions that until everythiing began to crash, about july 2007, 95 percent of the so called subprime loans where being paid on time.
Cenk, do you think they saw it coming?? Of course they did, they are smart people. Did anything real happen to them? Sure, they made big profits! The little guy stands holding the bag for thier fraud,,,err, mistakes. Go get em!!
On Rubin not knowing what a CDS is, this isn't surprising. They are a recent innovation and didn't become popular until well after he left finance and we have to remember he was NOT on the board of directors of Citigroup. He held an advisory role as a "senior counselor." The general rule is that advisers to the boards do absolutely nothing and no almost nothing about the firms day to day operations or their balance sheets - and this is particularly true in the financial services industry.
That apology was BS. It's like "I'm sorry your house burnt down", NOT "Sorry I lit the match and pored the gas all over the place, and ignited it". I wish TYT showed the clip.
As far as them "Not knowing" that's also complete BS. EVERYBODY knew it was going to end bad. A TELLER at my friend's bank told her many months before the crash, that it was going to happen and to keep some cash on hand because one day, she'll visit the ATM, and it wont work.
People don't understand, Robert Rubin is THE central character in the financial collapse! 26 years at Goldman Sachs, Treasury Secretary under Clinton, Chairman of the CFR, Director and Senior Counselor of Citigroup, served on the board of directors at the New York Stock Exchange, SEC Market Oversight Committee, Financial Services Advisory Committee. etc.
He was warned of toxic mortgages in 2006 and derivatives in the 90's.
You're so right. If you mess up this big in China you get shot, white collar or not. There's something to learn right there. Keep it in mind when the Chinese become the next world leaders in a few years.
These people steal by being dishonest as a group. It's a high skill. It is the basic nature of status. If you put one of these guys with a high level Nazi they would probably get along swimmingly. One guy would create a distraction and the other guy would operate the bludgeon or blade. It's all about the power and their ability to boondoggle.
This is not change, this is insane. Rewarding failure, ignoring fraud, punishing the purdent. Better bonuses than expected! That's all for now, back to you Cenk .
Crush the monetary system and switch to a resource based economy. focus all of our efforts and technology into creating food shelter and clothing for the entire world. This is the only solution to corporate greed and corruption. We must equalize the entirety of humanity.
Citigroup, citibank, or any of the other banks or wall street firms did not cause the financial crisis, at worst they exacerbated it by dealing in derivatives they did not understand. And then were spared going out of business, at taxpayer expense. The root cause of the whole shebang was government intervention in the free market on the idea that people have some sort of 'right' to housing.
@franksnow79 No it was the way they valued their assets.
They hired appraisers to appraise things for more than they were worth.
Jon Stewart said it best when he said "What do you mean my 20 year old shitbox volvo is worth 2 million dollars? I'm sitting on a gold mine, I'll sell it to another company I own on loan, give myself a bonus for my genius and when the asset goes under because people realize it's a 20 year old shitbox, I'll get a government bailout because joncos too big to fail."
@dffykvn Our entire economic system is based on banks selling shitboxes, betting against their own companies when they know they're about to fail, and giving themselves massive bonuses even though they fucked up.
You seem to buy into the labour theory of value; but the best chef or all the work effort possible will not turn a mud pie into an apple tart, while an incompetent can easliy turn a bag of apples, milk and flour, already having some value of themselves, into a worthless mess.
If someone comes along and offers you 2 million for your crappy volvo, and you know its not worth that, you're a fool not to sell. Then you put the money into something that isn't overvalued.
@franksnow79 Jon pointed out that it wasn't Citigroup selling someone else it's 2 million dollar shitbox, they were selling their worthless volvo for 2 million dollars to Citi Holding...or something, a holding bank owned by the same people as citigroup.
They'd do that to sell themselves bad assets to get bonuses and bet on how they'd be devalued in the future because they know they're worthless.
How about giving American's a big bail-out and I'M not talking about 250.00 give us back America for starter's and couple of Millions a piece...that would be the American way...Apology excepted when I see the check in the mail......
Chuck Princess is TRULY Sarah Palin's DICKLESS and BALLESS BITCH and PUSSY! Palin has SUPERIOR understanding of the economy and the financial world than Mr. Princess. We need President Palin for only she has the power from GOD herself to save this world economy from a complete collapse! When Palin implements Palinomics, the world economy will prosper be stronger than ever before and there will never be another collapse ever again! Palinomics will prevent all future crashes!
I wonder why we have these morons with high paying jobs..and they don't know how to do their job right. Now after going through the collapsed economy, we get an "I'm sorry"??.. ..no wonder other countries laugh and get more disgusted at us....because of these guys.
@lucifer898 Oh I don't doubt that at all. There's a cop in our town that's not even certified to be a cop. He failed his cleet certification test but the department here hired him on as a cop anyway. I have had cops to help me out when I needed it but most that I've met have been power hungry assholes. I think that anyone who has anything to do with the law should have to do all the drugs that they arrest people for because they need to know what it's like.
Its all a scam. The only way to stop this from happening is to abolish the Federal Reserve. More 'regulations' will do nothing whilst ever the Fed, or any kind of 'lender of last resort' exists.
Those fuckers need to be tried for treason (their shenanigans have actually threatened longterm U.S. national security) or at least sentenced to hardcore PMITA prison time.
Prison for life should be the sentence for fraud, sabotage and treason against the country. This guy is scum; he made profit over other people's poverty. 500 years ago usury was a crime punishable for death; we have devolved.....Love Cenk's white guy impersonation.
If the tea-baggers really cared about this country these bank CEOs, the mining company owner, and Republican politicians would be their targets. Who do they think are corrupting our government?
just recently they announced that 25 hedge fund traders made $25 BILLION ..one made over $4 BILLION from taking advantage of the bailout since he knew Paulson was gonna bailout the banks..these people need to be put in jail for fraud for life and stripped of all assets
the big banks are doing what anybody would do given such an opportunity to make exorbitant amounts of money. don't blame them, blame the corrupt government that facilitates and promotes such behavior by their campaign financiers
@ViciousGX the point eluding you is that the representative government doesnt represent the citizens. elected officials represent the people who pay them. its more of a democracy than a republic, in the sense that instead of 1 person = 1 vote, its 1$=1 vote, and its significantly easier for corporations to concentrate those dollars
so dont blame the execs or the shareholders. this whole system could be brought down by a handful of politicians with integrity. grayson for prez
@PapaMagnum well it seems to prove that smart people and being rich not a combination that exists in this world too often. Most people that are rich just inherit it, and the system takes care of them.
Accidents need to happen......
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KateTihq 1 year ago
If you say Capitalism is for the working class I will laugh at you.
SupremePenguinTone 1 year ago 2
You are forgiven... now prove how sorry you are and go to jail... and be raped in the ass... many times.
Hey, I'll completely forgive you if endure what you did to the economy... many many times... perhaps by a the biggest, widest penis ever!
LovelesEntertainment 1 year ago
@LovelesEntertainment
"raped in the ass...perhaps by a the biggest, widest penis ever!"
...No way man, I'm not sticking my cock in that guy's ass!
Lol, I'm kidding; it's tiny:(
jimbrown257 1 year ago
CITIGROUP got tarp money in the billions and it wasn't enough - they had to raise your interest rate to m29.99 too!
Citi is the biggest , greediest bunch of assholes on the planet!
EFISHANT 1 year ago
@EFISHANT
You could stop borrowing money from Citigroup, and you wouldn't have to pay that interest.
Silveracity 1 year ago
A good example of why Government is the problem, not the solution.
They will always help their friends at our expense.
In fact, everything they do is at someone elses expense.
But it is never ever at the expense of their friends.
Freethought42 1 year ago
citi group? we have a war on drugs but, these criminals continue to rape and steal from people with a gov't license. ..
nedmorlef 1 year ago 2
In my opinion being sorry is an admission of guilty. Why is it he is not in prison with BuBa?
bajalocom 1 year ago 2
@bajalocom
Because that is not how the legal system works in the USA.
Silveracity 1 year ago
Hilarious video. LOL.
likecrunchyness 1 year ago
lol cenk has some great sound clips. anyone know where that second sound clip is from? Also theres also this hilarious sound clip he plays with a guy apparently being questioned about an affair. He says something along the lines of "sex?nah thats crazy. i have a wife
mrLANDO 1 year ago
What would you expect from people that create money from thin air and then collect interest on it? It's no wonder that these bankers have "God complexes", they are given godly powers by all the stupid people that don't know better.
dlucas90 1 year ago
HELL NO U CANT!!!
Charmer4856 1 year ago
You can go to jail for blackmail, unless your the president of the US
aarondavid826 1 year ago
why is Geitner in the administration? as the head of the fed in NY everything happened under his nose, he was either too incompetent to know what went on or he willfully allowed it to happen. Either way he should be in his current position. Change we can believe in my ass, biggest lie since read my lips no more taxes
gilchris112 1 year ago
So he should return the money with interest "right"?
We the people should have a sort of IRS, and the People receive checks of money stolen, as it is returned RIGHT?
Fair is fair.
jeddah91 1 year ago
to evil, there is legal justification if they obtain money through illegal market malipulation like naked short selling, and nobody deserves "the shaft" just for being middle or lower class
stickasensi 1 year ago
Sowieeeee, all out hot fudge cake!
SkreetGil 1 year ago
I like how the right thinks that the war against middle america comes from the poor. the disenfranchised don't vote, they go to work. They don't gamble with the economy by taking bets on risky loans, they don't even get loans, most of them.
Justwosweet 1 year ago
LMAO.......love the sorry soundbites!! LMAO.......Oh my God, I'm totally totally totally TOTALLY sorry for that!!
lebaneseameer 1 year ago
evil petting zoo is assuming that everyone has the time to personally asses the financial markets. This is a slightly flawed argument. the reason these people get paid millions is so that things like this DONT HAPPEN.
What a stupid point of view.
EtcEtcAndEtc 1 year ago
This has been flagged as spam show
@EtcEtcAndEtc
If my position is only *slightly* flawed, then how is it stupid? Perhaps "not fully considered", or something similar, would be a better description.
Speaking of of stupid, please give your evaluation of the intelligence of someone who interprets this:
"the rich and powerful got the electorate to actually believe that regulations and government oversight of business are terrible things"
as this:
"assuming that everyone has the time to personally asses the financial markets"
VeryEvilPettingZoo 1 year ago
(cont)
Re: "these people get paid millions is so that things like this DONT HAPPEN"
No. CEOs don't get paid to preserve global financial stability - nor, in effect, even to ensure the long-term well being of their company. They get paid to jack up the stock price and profit. Their incentives are short term. If their recklessness creates short term gains, with long term disaster, they take their $100 million+ and "honorably" resign when the shit hits the fan (as did Citigroup's Charles Prince).
VeryEvilPettingZoo 1 year ago
1) There's no legal justification for seizing their money.
2) The American taxpayer got what they deserved. The rich and powerful got the electorate to actually believe that regulations and government oversight of business are terrible things. When the people are so easily duped, the outcome is inevitable. "Oh, you got the shaft while I got stinking rich? Well that's a big fucking surprise, and I'm really sorry about that."
VeryEvilPettingZoo 1 year ago
@VeryEvilPettingZoo T. What good is government oversight when it is completely corrupt? Who do you think our government works for? (I'll give you a hint: start with Goldman Sachs...)
LawyerScumGhost 1 year ago
@LawyerScumGhost
Gov oversight isn't completely corrupt. The gov doesn't work for Big Business, as I assume you're suggesting. Yes, there are some (relatively few) corrupt gov officials. Yes, there is huge amount of corporate influence on the politics of the regulation process. But regulation actually makes a difference, despite this. Things in the real world aren't perfect successes or perfect failures. Don't be such a cynic - it's wrong, it's intellectually lazy, and it doesn't help anything.
VeryEvilPettingZoo 1 year ago
(cont)
One of my favorite sayings - one that's often heard in the world of software design but that seems to apply to almost everything - is this:
The perfect is the enemy of the good.
VeryEvilPettingZoo 1 year ago
these people made mistakes, but what cenk is saying is nothing but greedy class warfare, it is communists saying "you have money, i have guns, im taking your money" its nothing short of pure robbery done under cover of "im the nanny liberal government and i know whats best" if you want change in this country that wont attack your faith in god, steal your money and give it to radical unions, and take away your freedom, vote republican.
tehant1liberal 1 year ago
Nobody cares man. move along. That kind of fear-mongering and overgeneralization may work on the stupid...unfortunately thats not the audience you are preaching too. So show troll. You have been spammed.
boorens18 1 year ago
@tehant1liberal umm, this is class warfare, but u are misinformed. cenk isnt demanding the ceo's money, he is demanding our money. we the taxpayer gave 50+ billion to citygroup. and now this son of a bitch takes 150 million? wtf? how is that a free market? that is reverse robin hood. the money that bankers now have is OURS. they DIDNT EARN IT via FREE MARKET! they earned it via SOCIALISM BAILOUT by the taxpayer. their "mistakes" only crashed our economy
WorldOfWarcraftlol1 1 year ago 12
@WorldOfWarcraftlol1 Agreed!
twistedknightmare 1 year ago 2
@WorldOfWarcraftlol1 Do us a favor and look up what the words Free market and socialism means and then look up basic economics and "What do taxes do?"
Jamez773 1 year ago
@Jamez773 government functions on taxes. with a right amount of taxes (esp on the very rich), we pay our debt to China that Republicans created through their failed budget and wars. (remember, Clinton gave us a surplus)
WorldOfWarcraftlol1 1 year ago
@WorldOfWarcraftlol1 Please Clinton fucked your nation up too. Don't try to make your nations democrat party out to be something it's not. Democrats play the same game Republicans play they just do a better job at hiding it. If I remember correctly Clinton had the ability to pay of debt from Social security measures and didn't. The republicans and democrats fucked you over. Don't blame them when you elected them.
Jamez773 1 year ago
@WorldOfWarcraftlol1 Im sorry but i cant imaging how you can call the bailout, socialist, i have just to assume, you mean it like something the dems would do, like New Deal stuff, it is so wrong in so many ways still, Fox News is perverting even the etymology of the language.
DarkPractitioner 1 year ago 2
@DarkPractitioner the bailout was socialism for the rich. with the law of capitalism, if the banks had not been bailed out, hundreds of credit unions would pop up across the country. i aplaud the republicans and nancy pelosi for defeating it the first time around, and condem them for Ok'ing the senate's bailout.
WorldOfWarcraftlol1 1 year ago
@WorldOfWarcraftlol1
It wasn't "socialism" for the rich. It was welfare for the rich and it's not new.
Tuathalful 1 year ago
@Tuathalful What I don't understand is why conservatives get irate over social programs for people at the bottom of our society while corporate welfare scandals barely hold their interest. The tax payer cash funneled to the capable people at the top makes the cost of social programs look like a pittance.
SteelMartini 1 year ago
@tehant1liberal
LOL - a republicans complaining about greedy class warfare - that's delicious!
Haven't you been paying attention? Greedy class warfare was openly declared 30 years ago - BY the upper class ON everyone else - under the banner of a big fat elephant.
VeryEvilPettingZoo 1 year ago
The more I watch you guys the more I like you
troutfish70 1 year ago
Let the lawsuits for the return of this money begin!
TheUSMetalhead 1 year ago
"I don't know what a credit default swap is either." Heh.
Finally, something I can agree with the CEO's over. I'm totally sorry too.
audadvnc 1 year ago 2
wow...if these are the kind of guys with all the money i can only think the country is fucked. america will die but not because of dumbass terrorists sitting in a cave but because rich idiots were to fucking STUPID! to even do anything important in their job. if a father goes to a casino and gambles away his retirement fund the casino certainly doesn't refund him.
thuzan117 1 year ago
Whats he mean by Kabuki theater?
Sephlock 1 year ago
@Sephlock puppet theater from Japan.
SteamRaven 1 year ago
This is what is astonishing to me as a finance student. Why do corporations give jobs to maths/calculus specialists who know nothing about the qualitative aspects of trading and risk and the impact of risk? To be fair, there was little oversight of their actions.
mynameis677 1 year ago 2
@mynameis677 Because they're smarter than economics majors
dekotable 1 year ago
the money he got is already hidden in a secret account somewhere
dragonflychainsaw 1 year ago
He already got payed, it's too late to take his money.
3erooney 1 year ago
@lexpie lol
doomfro2000 1 year ago
The title of this video sounded like an Onion story.
borimirtheboring 1 year ago 3
@borimirtheboring it did
Ivan951 1 year ago
my 12 year old brother knows what a credit default swap is
qcdisciple 1 year ago
@iversonmatthew, you must be new to America. If you steal $50,000 you go to jail, if you steal $50,000,000,000 then you get a bailout.
Dahgrostabphri 1 year ago 4
I thought these rich guys were against welfare? Not for themselves, apparently.
Seldona 1 year ago
Everyone seems to blame subprime loans, and nobody mentions that until everythiing began to crash, about july 2007, 95 percent of the so called subprime loans where being paid on time.
EGC69X 1 year ago
CEO's of Big Tobacco were different. They sold cancer &
instead of saying they were sorry they denied denied denied. Why?
b/c they had their liar4hire scientists who said exactly what they
were paid to say. Bankers & traders had Moody's, Standard & Poors.
Big Oil has their little collection of scientists & weathermen with degrees in "broadcast meteorology" to deny deny deny AGW There are the PR ppl
who give voice to subprime finance like that "distinguished" group, the
Chamber Of Commerce.
danger0usknowledge 1 year ago
FUCK google ads!
yoyokng11 1 year ago
FUCK YOU GOOGLE ADS ROCK!
DarthVantos 1 year ago
This is what Rage Against The Machine was growling, screaming, and shredding about.
dizzymasekela 1 year ago
Cenk, do you think they saw it coming?? Of course they did, they are smart people. Did anything real happen to them? Sure, they made big profits! The little guy stands holding the bag for thier fraud,,,err, mistakes. Go get em!!
DDTrampled 1 year ago
On Rubin not knowing what a CDS is, this isn't surprising. They are a recent innovation and didn't become popular until well after he left finance and we have to remember he was NOT on the board of directors of Citigroup. He held an advisory role as a "senior counselor." The general rule is that advisers to the boards do absolutely nothing and no almost nothing about the firms day to day operations or their balance sheets - and this is particularly true in the financial services industry.
ASRIBEIRIO 1 year ago
LOL it's easy to say sorry when your dat filthy rich and bought off the govt.
zundey2000 1 year ago
that was MY BAD!
ohglamorous 1 year ago
Well........................at least those guys are fucking rich. Good for them; bad for the taxpayers.
RationalPeace 1 year ago
Why is the screen so small today?
Blindeyeseesfar 1 year ago
Oh. Well, if they're sorry, I guess everything's okay.
SupaAmi 1 year ago
why's cenk in that little box?
KataVideo 1 year ago
that is so awesome, "whoops my bad guys, sorry"
orcgoat 1 year ago
When the Good Ole Boys Network Goes Wrong
IHS7 1 year ago
Hey TYT, whats up with the smaller screen ? Not cool.
BobbyPuun 1 year ago 39
@BobbyPuun lol don't get me started on the lack of widescreen!!
fuzzjunky 1 year ago
That apology was BS. It's like "I'm sorry your house burnt down", NOT "Sorry I lit the match and pored the gas all over the place, and ignited it". I wish TYT showed the clip.
As far as them "Not knowing" that's also complete BS. EVERYBODY knew it was going to end bad. A TELLER at my friend's bank told her many months before the crash, that it was going to happen and to keep some cash on hand because one day, she'll visit the ATM, and it wont work.
These D-bags don't care, they feel entitled!
fret2424 1 year ago
People don't understand, Robert Rubin is THE central character in the financial collapse! 26 years at Goldman Sachs, Treasury Secretary under Clinton, Chairman of the CFR, Director and Senior Counselor of Citigroup, served on the board of directors at the New York Stock Exchange, SEC Market Oversight Committee, Financial Services Advisory Committee. etc.
He was warned of toxic mortgages in 2006 and derivatives in the 90's.
RAMKING61 1 year ago
Theyre lucky they dont live in China it would have been a trial and a firing squad....
Fake ass hearing
borat443 1 year ago 2
@borat443
You're so right. If you mess up this big in China you get shot, white collar or not. There's something to learn right there. Keep it in mind when the Chinese become the next world leaders in a few years.
franczazou 1 year ago
its like 7 musketeers .. One for All ... All for the dumb fuck who fucked up .. lol
resistanceunion 1 year ago
LMAO crying and laughing at the same time...
aaronsande 1 year ago
this makes me feel SO awful for working @ citigroup...
timmyr719 1 year ago
These people steal by being dishonest as a group. It's a high skill. It is the basic nature of status. If you put one of these guys with a high level Nazi they would probably get along swimmingly. One guy would create a distraction and the other guy would operate the bludgeon or blade. It's all about the power and their ability to boondoggle.
hypnofan35 1 year ago
This is not change, this is insane. Rewarding failure, ignoring fraud, punishing the purdent. Better bonuses than expected! That's all for now, back to you Cenk .
scanlonized 1 year ago
VOTE YOU FUCKERS
jackhartcup 1 year ago
Yeah you dirty fuckers!
zippojoker 1 year ago
Cenk for president!! haha :D
samsamsABC 1 year ago 48
@samsamsABC unfortunately he cant become president; his not from the US
DidntKnowWhatToPut1 1 year ago
@DidntKnowWhatToPut1 Ha! It didn't stop Obama (according to the "birthers")
shabutie1337 1 year ago
@DidntKnowWhatToPut1 haha fair enough, at least it keeps the terminator at bay for now! :P he could become a senator though right?.... hmmm
samsamsABC 1 year ago
If Al Capone was in charge of the Financial Crises commission there would be a baseball bat on his desk and not a gavel.
pongman 1 year ago
The crime of the century and there's no perpetrators. Screw this citigroup guy.
Frankenstrat247 1 year ago
What's up with the raitos?
OmidFKL 1 year ago
Yeah, I was only a good loaner of a car for a year and when I was one month off on my payment.... they repo-ed it. How fucked up is that?
As the police officer I spoke to, who came to the scene, said... "I'm seeing this more and more."
cromwellian13 1 year ago
....I really hope that there will be justice for these bastards.
mrx0066600 1 year ago
Crush the monetary system and switch to a resource based economy. focus all of our efforts and technology into creating food shelter and clothing for the entire world. This is the only solution to corporate greed and corruption. We must equalize the entirety of humanity.
Xeletoph 1 year ago
video still not playing for me
superfuzz 1 year ago
lead pipes and a blow torch LMAO
enigmatically 1 year ago
Citigroup, citibank, or any of the other banks or wall street firms did not cause the financial crisis, at worst they exacerbated it by dealing in derivatives they did not understand. And then were spared going out of business, at taxpayer expense. The root cause of the whole shebang was government intervention in the free market on the idea that people have some sort of 'right' to housing.
franksnow79 1 year ago
@franksnow79 No it was the way they valued their assets.
They hired appraisers to appraise things for more than they were worth.
Jon Stewart said it best when he said "What do you mean my 20 year old shitbox volvo is worth 2 million dollars? I'm sitting on a gold mine, I'll sell it to another company I own on loan, give myself a bonus for my genius and when the asset goes under because people realize it's a 20 year old shitbox, I'll get a government bailout because joncos too big to fail."
dffykvn 1 year ago 2
@dffykvn Our entire economic system is based on banks selling shitboxes, betting against their own companies when they know they're about to fail, and giving themselves massive bonuses even though they fucked up.
That is NOT free market.
dffykvn 1 year ago
You seem to buy into the labour theory of value; but the best chef or all the work effort possible will not turn a mud pie into an apple tart, while an incompetent can easliy turn a bag of apples, milk and flour, already having some value of themselves, into a worthless mess.
franksnow79 1 year ago
If someone comes along and offers you 2 million for your crappy volvo, and you know its not worth that, you're a fool not to sell. Then you put the money into something that isn't overvalued.
franksnow79 1 year ago
@franksnow79 Jon pointed out that it wasn't Citigroup selling someone else it's 2 million dollar shitbox, they were selling their worthless volvo for 2 million dollars to Citi Holding...or something, a holding bank owned by the same people as citigroup.
They'd do that to sell themselves bad assets to get bonuses and bet on how they'd be devalued in the future because they know they're worthless.
dffykvn 1 year ago
oops spell accepted wrong!!!!!!....
msqueenyep 1 year ago
Mr. CEO,
Apology UNACCEPTED!!!
Hope you get tried in court and do the time!!
DeJiKo06 1 year ago
How about giving American's a big bail-out and I'M not talking about 250.00 give us back America for starter's and couple of Millions a piece...that would be the American way...Apology excepted when I see the check in the mail......
msqueenyep 1 year ago
You are forgiven, Robert.
santosbl01 1 year ago
Does anyone else hate the financial news segments, or is it just me?
NubianTribesman 1 year ago
banks are run by idiots for sure
chizzy555 1 year ago
FIRST!!!!!!!!!!!!!!!!!!!!!!
kinkycommie 1 year ago
Chuck Princess is TRULY Sarah Palin's DICKLESS and BALLESS BITCH and PUSSY! Palin has SUPERIOR understanding of the economy and the financial world than Mr. Princess. We need President Palin for only she has the power from GOD herself to save this world economy from a complete collapse! When Palin implements Palinomics, the world economy will prosper be stronger than ever before and there will never be another collapse ever again! Palinomics will prevent all future crashes!
ecwaufisxtreme 1 year ago
It's hard to believe the biggest theft in the history of the human race and nobody went to jail.
iversonmatthew 1 year ago 127
@iversonmatthew yup it shows you how corupt our government and wall street is
Roninlord25a 1 year ago
@iversonmatthew You kidding? We spent 40 years making this shit completely legal.
eirefrance 1 year ago
@iversonmatthew
I wonder why we have these morons with high paying jobs..and they don't know how to do their job right. Now after going through the collapsed economy, we get an "I'm sorry"??.. ..no wonder other countries laugh and get more disgusted at us....because of these guys.
Mika20 1 year ago
@iversonmatthew Yes it's pretty much how it's going to go down.
Priestshooby 1 year ago
@iversonmatthew yeah, no shit. Meanwhile you can go to jail for just sitting on your front porch smoking a completely harmless joint.
michaelscriptor 1 year ago 37
@michaelscriptor Or for drinking a beer on your lawn. The asshole cop just has to say you were on the sidewalk. True story
lucifer898 1 year ago 3
@lucifer898 Oh I don't doubt that at all. There's a cop in our town that's not even certified to be a cop. He failed his cleet certification test but the department here hired him on as a cop anyway. I have had cops to help me out when I needed it but most that I've met have been power hungry assholes. I think that anyone who has anything to do with the law should have to do all the drugs that they arrest people for because they need to know what it's like.
michaelscriptor 1 year ago
Its all a scam. The only way to stop this from happening is to abolish the Federal Reserve. More 'regulations' will do nothing whilst ever the Fed, or any kind of 'lender of last resort' exists.
elfornse 1 year ago
Those fuckers need to be tried for treason (their shenanigans have actually threatened longterm U.S. national security) or at least sentenced to hardcore PMITA prison time.
SwampThizzle 1 year ago
Q: How do you get away with theft?
A: Be a wealthy investor, business owner or executive and steal billions of dollars.
A86 1 year ago
What is a credit default swap?
I kinda know what a derivative is (its kinda like the estimated worth of something that will be made but hasn't yet)
TheFunkyDomination 1 year ago
@TheFunkyDomination What is a credit default swap?
I don't know ask the financial worlds oracle Alan Greenspan...he doesn't know?
Ummm nothing to see here folks, say no more say no more, if you tell anyone our imaginary economy will collapse!
dffykvn 1 year ago
Different rules for the rich folks....different rules for the rich.
:(
magx01 1 year ago 2
@magx01 the real golden rule: whoever has the gold makes the rules........rat bastards
Seanax18 1 year ago
@Seanax18
Indeed. And what's doen about it? Nothing. Things need to change.
magx01 1 year ago
Not sorry enough to give his bonus back to taxpayers.
Xenite227 1 year ago
Prison for life should be the sentence for fraud, sabotage and treason against the country. This guy is scum; he made profit over other people's poverty. 500 years ago usury was a crime punishable for death; we have devolved.....Love Cenk's white guy impersonation.
alizee2010 1 year ago
LMAO I LOVEEE Cenk's voices/faces...."Bad boys..go think about what you did"
BethanyCharlene 1 year ago
If the tea-baggers really cared about this country these bank CEOs, the mining company owner, and Republican politicians would be their targets. Who do they think are corrupting our government?
darealdjnutz 1 year ago
whats up with the tiny video.....
ButterOnMyBiscuit 1 year ago
Guillotines were invented for a reason...
Capng123 1 year ago 2
HELL NO YOU CANT!!! i swear that quote will never get old.
jl931 1 year ago
I'm sorry too. But your still going to jail....
wish.
redmoonspider 1 year ago
Citigroup? Is that the same one that makes memos about developing the plutocracy?
xyzoneon 1 year ago
I respect the man's honesty if nothing else
moviedude22 1 year ago
tiny ass screen lol
mrk1190 1 year ago
It's time for jail for these traitors. And for those in our government who refuse to look out for us, jail.
TheGiantRobot 1 year ago
All of these bankster scumbags need to feel what they've done to us PERSONALLY!!!
ebruceii 1 year ago
This might just be my favorite TYT video ever.
gocanuckzgo 1 year ago
Central banks are more dangerous than standing armies.
jsamsonite07 1 year ago
Jail this fucking criminal.
NOW!
Silberdachs 1 year ago 3
just recently they announced that 25 hedge fund traders made $25 BILLION ..one made over $4 BILLION from taking advantage of the bailout since he knew Paulson was gonna bailout the banks..these people need to be put in jail for fraud for life and stripped of all assets
xadam2dudex 1 year ago 3
Is cool guys he is sorry.
tubehax 1 year ago
Take your greedy ass sorry and shove it.
MaicoMoon 1 year ago 2
lol @ not knowing what a CDS is.... but bank bashing is still totally totally envious, and envy is an echo of the hunter-gatherer society
dbullet 1 year ago
These banks didn't force people into taking loans.
wafflethug 1 year ago
@wafflethug They did provide bad, risky derivatives to people. So yeah, they didn't force people, they deceived them.
jsamsonite07 1 year ago
so this wankers is "sorry" for fucking American banking system?
i note with some increduluity that he was not sorry enought to hand back the $40,000,000 he got for beening fired from CITI bank!
(plus the car and driver for 5 years,the pension,the stocks and shares (worth about another $40,000,000,)
does the term "LYING RAT BARSTARD SON OF A BITCH CUNTNOSED DICKHEAD" ring any bells?
grahamkeithtodd 1 year ago 2
video won't play
superfuzz 1 year ago
Well.... I'm so glad they said they were sorry, Now all is good in the world. Carry on.
TheBlueConch 1 year ago
don't hate the player, hate the game
the big banks are doing what anybody would do given such an opportunity to make exorbitant amounts of money. don't blame them, blame the corrupt government that facilitates and promotes such behavior by their campaign financiers
manonthemount 1 year ago
@manonthemount It is the banks corrupting the politicians though.
Darahcos 1 year ago
@manonthemount but not the citizens who support those companies, right?
you blame the representative gov't that facilitates the corporation that you fund, and continue to fund even now.
ViciousGX 1 year ago
@ViciousGX the point eluding you is that the representative government doesnt represent the citizens. elected officials represent the people who pay them. its more of a democracy than a republic, in the sense that instead of 1 person = 1 vote, its 1$=1 vote, and its significantly easier for corporations to concentrate those dollars
so dont blame the execs or the shareholders. this whole system could be brought down by a handful of politicians with integrity. grayson for prez
manonthemount 1 year ago 4
I love those soundbites!
ASTCify 1 year ago 2
@ASTCify
The TYT soundboard is great ;)
micahgee 1 year ago
I'm glad citi wasn't my bank.
katey1dog 1 year ago
don't fuck up then he wouldn't have to pretend to be sorry
connecttro 1 year ago
@connecttro
...but the thing is, he didnt fuck up. lol..
Ristar85 1 year ago
You know that if they try to take the money the teabaggers will start screaming about Obama taking their money... *sigh*
Webbaren 1 year ago 6
So while I'm watching this video, a google ad for Citi appears in the in the pop-over at the bottom of the video. Really?
Kothag 1 year ago
It's all better guys! He's sorry!
PapaMagnum 1 year ago 71
@PapaMagnum Oh be fair! What do you want? For him to give up all the money he made from the crash or something crazy like that? ;D
aaronsande 1 year ago
@PapaMagnum well it seems to prove that smart people and being rich not a combination that exists in this world too often. Most people that are rich just inherit it, and the system takes care of them.
bumfire007 1 year ago
where do those sry quotes cenk uses come from?
Netjack 1 year ago
Cenk is funny =P
jose060789 1 year ago
@jose060789 He should use that voice he did at the end way more often
VocabWord 1 year ago
I wonder how long it will take for the markets to crash again.
VolatileReaction 1 year ago
I still can't believe that not only did they not arrest these guys the allowed them to keep the money they made. this is such a huge scam.
hentia2 1 year ago 24
bitches did you know chocolate jesus grew up in the ditches
SeeProfileForDetails 1 year ago
@SeeProfileForDetails Fo sho. Dat be sum troof. LOL@ negroes.
SwampThizzle 1 year ago
This has been flagged as spam show
1st ha bisky
kazooga1234 1 year ago