Financial Oligarchy and the New Robber Barons w/Derivatives Guru Janet Tavakoli

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Welcome to Capital Account. Bernanke speaks and everyone seems to listen. In a speech today, he warned about the job market and said continued accommodative easy-money policies will be needed to make further progress. This has the financial press reading the tea leaves and saying more QE. Is it really because, as our guest says -- TBTF really means "trust Bernanke to fund?" She's Janet Tavakoli, author of "The New Robber Barons: How Bankers created an International Oligarchy," and she's here to talk about the too big to fail banks, the financial oligarchy, and how MF Global fits into this web of derivative inspired meth lab of shadow liquidity and off-balance sheet risk.


And since we are on the issue of MF Global, what's the latest on its former CEO, Jon Corzine? Did he or didn't he knowingly transfer close to 200 million dollars in customer money from MF Global to JP Morgan on one occasion before the firm imploded? Internal emails that have come out reportedly point different ways. Regardless, has he gotten away with other types of fraud already? And do credit derivatives, like those used to bet the firm on Europe's debt crisis, continue to pose a major risk to markets? And does regulation do anything to stop this?


To top this off, a recent report by the OECD predicts that by 2020, 75% of the US population will be obese. We'll ask if this is deflationary for the global economy and a drag on economic growth. Jim Cramer, of CNBC seems to have a different take. Demetri gives his two cents during "Loose Change."

• Category

  News & Politics

[turbotrana]

Janet was brilliant. Whilst trying to get Marc Faber on is good, we hear him all the time but dont get enought of people like Janet who are so informative.

[CapitalAccount]

Yes, Janet was a fantastic guest. We loved having her on. She's such a great resource for us and for our audience. I'm so happy you liked her. - D

[christo930]

How in the world could a flying drone compete with a delivery guy/gal working on tips and a $1 delivery charge? This drone thing is beyond stupid and would never work unless possibly on very large orders out in the middle of Wyoming. Also, where the fuck are these drones supposed to land to make the delivery> In the middle of the street?

[DinaStrange]

I am getting used to Lauren. And Janet had always been my favorite.

[DiNatalli]

Smart & beautiful Ms. Tavakoli

[DinaStrange]

I love Janet. Her intelligence and honesty are inspiring.

[dipesh dangol]

Good vid, I actually only just reached my first $500 this month or so and it really feels incredible! kudos to this system called: Impact Cash Formula, I don't remember the site simply just google it.

[Harbringe]

Janet Tavakoli should be made the economy/financial Czar of the US and have dictatorial powers to fix this mess and put the crooks in jail . There's a reason why she appears on fringe media sources instead of the mainstream media , they are afraid of her cause they know they can't pull the wool over her eyes she's just too smart for them and can show people how it is they are being lied to by their Government and Wall St . The US is a criminal enterprise.

[CuriumGray]

"The Creature from Jekyll Island" youtube it.

[LSraven1]

The assumption that not one congressman present could have questioned him properly is preposterous. Those who CAN DO SO ...CHOOSE NOT TO...vested interest in NOT doing so is why....the nature of exact cause of them choosing NOT, to properly deal with this varies for each of them ,but, the end result is the same....its just a SHOW...a play...with poor acting , and low production value ….and low ratings

[LSraven1]

I dont think they can ...these derivatives are in a way an extension of the method by which new units are created from Central Banking Model...the idea that wealth is equal to its unit and that creating units creates wealth..even those who know better...have no interest in developing a new system that would bring the the units back into a comprehensible relationship with the wealth it represents...i dont think they would even know where to begin the task

[RAUL ROLA]

Our country needs people like Janet Tavakoli - straight shooter, honest, expert in the financial markets. The problem is the bad system is controlled by power, greed, guns and assassins who will eliminate the good people. So it's really up to the people to take control of their future once again. If the people don't know how to look back and learn from history, they will never get out of this bad system.