max keiser; 'the oracle' bbc world news, the global banking mess

[maxkeiser]

Run time: 10:54 https://www.youtube.com/watch?v=J1jN_l44kFU   Posted on YouTube: January 24, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: January 24, 2009 By DU Member: maxkeiser Views on DU: 1057

 
link to part 2

http://www.youtube.com/watch?v=V5O6U9bfnTY

[mckara]

1. Must Watch TV

K&R

[prairierose]

2. Thanks again, Max...

I'm enjoying the show. Essential information with fun thrown in. :hi:

[JohnyCanuck]

3. Minister unleashes savage attack on 'masters of the Universe' over recession

by Daily Mail Reporter
Last updated at 12:36 PM on 24th January 2009

Britain's banking system was less than three hours away from collapse before the Government's first bail out, Gordon Brown's City Minister revealed last night.

Lord Myners said that 'things were very bad, nervous and fragile' in the moments before the Government announced a £500billion rescue package last October.

SNIP

In a furious onslaught, Lord Myners blamed banking's 'masters of the Universe' for the crisis.

He said that too many top bankers fail to realise they are grossly over-rewarded and have no sense of society around them.

Lord Myners added that there will have to be fundamental changes in the way that banks operate and that 'the golden days of huge bonuses in the investment banking arms are gone'.

The minister went on to argue that there was no economic justification for senior executives¹ pay rising 'exponentially' in the past 20 years.

http://www.dailymail.co.uk/news/article-1127120/Minister-unleashes-savage-attack-masters-Universe-recession.html