Morgan staffs the entire operation and they have 3 allegedly independent owners well when we did digging these people dont own anything they actually didnt contribute any money they are just Board Members and we recently got j. P. Morgan to admit that 2 of the 3 owners are there because j. P. Morgan submitted their names as references dozens of people going to realize that Pension Funds are like the toxic waste dump for risk in any bad trade because the people the math there purposefully hire stupid people to manage these Pension Funds public Pension Funds and they just go there and they dump garbage in there i know ive worked on wall street and ive done many bad trait that should have been on somebodys rich guys account and dump it into a pension fund because they have no way to stop it its just its the you know thats the way to go and yet we already found one example of self dealing where in 2018 j. P. Morgan owned 100. When a 1000000 class a shares of this Wind Power Company called coastal states wind they recommended that if. Buy these 120000000 shares from j. P. Morgan so j. P. Morgan is allegedly be independent Financial Advisor to this fund and yet heres j. P. Morgan selling its own stuff to i often thats just one example that we found im sure that theres dozens more it raises issues not just for the Regulatory Oversight of an electric utility but how the pensions for firefighters for teachers for cops how their money is being invested and this doesnt look good for them if if j. P. Morgan is is basically constructing this elaborate front to mask its actual control over this fund i remember in 2008 Goldman Sachs was caught selling bogus products to its own customers that they themselves that knowingly put in their customer accounts to defraud their own customers and then eric holder the attorney general at that time said you know what were going to legalize financial fraud under the whats called the holder doctrine right because fraud is americas number one business speaking of serial frost theres one couple maniacs like warren buffet. Tell us whats going on with kraft and theyre theyre fine for rigging wheat futures i mentioned Warren Buffett because of course Warren Buffett on the big piece of heinz ketchup and they engineered a merger with kraft just a few years ago so he knows all about what was happening here speaking tell us about this frog yes there is a federal agency called the u. S. Commodity Futures Trading Commission which regulates Commodity Markets wheat Oil Natural Gas and they caught kraft red handed manipulating the wheat futures market levied a fine but in the new good in the negotiations to do the fine it wasnt just you know the c. F. D. See coming out and saying youre gay. Instead it was a plea sensually where kraft neither admitted nor denied any wrongdoing agreed to a settlement where they paid a fine but in the fine print of this settlement kraft negotiated a small little clause that said see if t. C. And the individual commissioners of the see have to see wont be permitted to talk about this settlement and in announcing the settlement each of the individual see if t. C. Commissioners made statements about this this manipulation settlement they just reached with craft and days later crafts attorneys filed a federal breach of contract suit where they accused the see if the c. Of criminal misconduct in. Violating the consent degree of this of this 5 so so that some cracker company. Is threatening the u. S. Government absolutely and souness rigging markets thank you eric holder and that and now you did your job if we are a small fee was pay we keep 0. 90 of every dollar we steal right warm up j. P. Morgan but thats not enough they then want to sue the government for doing their job as private corporation thats absolute correct this is intimidation and this is the Political Climate were in where a Company Caught red handed committing wrongdoing immediately turns the tables on the cops on the regulators and accuses them of writing i mean they want to malfeasance stories in new york of cops being spit at and having water pour naaman disrespected it comes from j. P. Morgan it comes from kraft it comes from heinz it comes from Warren Buffett it comes to eric holder who treat Law Enforcement agencies in regulators. Garbage that the highest levels of our government that trickles down to the street they are providing the example for people to follow of treating police like garbage and ok so the discraft company of course because they cant make money on crackers they have to resort to the financial future manipulation thats the only place they can make money is on their cash desk manipulating and committing fraud thats their Business Model is fraud and its and now and now their Business Model is intimidating federal regulators they were Martin Scorseses film about this i mean he just made a film about mobsters you know dying mobsters in a nursing home he should make a film about these mobsters that are actively torching an arsonist killing our economy scorsese watches the program write what you told him you know we borrow a lot of his shots he called this the scorsese intimidation shot. I mean streets. You know he went to n. Y. U. Like i went to n. Y. U. We studied him in film school now your thoughts on the california pee genie and now there are warning 10 years of blackout so this is a good one so this Utility Company they are shutting the power down because they cant guarantee that the trees wont fall on the power lines or start fires or act isnt like some others from the simpsons you know mr smithers i think it was the anyway you know he runs the utility of Nuclear Power plant and this is a travesty youve got a situation where what the 5th largest economy in the world the state of california is doesnt have reliable Electricity Service because a corporate owned utility p. G. Any pacific gas and electric cant manage its transmission lines without fear of forest fires resulting what we have here is an issue of severe corporate mismanagement where p. G. Me has time. In time again prioritized financial returns for its investors at the expense of the Public Interest necessity of running right you know theres going to business whether its providing electricity in a or making crackers a craft or providing Banking Services a j. P. Morgan they can do their core business they can only make money manipulating markets couldnt that p. G. D. Can only make money by focusing on the short termism by manipulating markets by strong arming regulators by committing fraud and that the fukushima of the. Essentially theyre just crux theyre outright fricken crooks and people are being tortured being theyre dying as arson theyre providing an example of petty thieves and antisocial behavior theyre going to go private and everyones going to go private Kohlberg Kravis and roberts are going to own everything with Warren Buffett were going to be serfs on their fricken futile plantation. That all back to d. C. And tell them this work about it well were instead of them going private we think they should go public as becoming the state of california should set up a state agency and should the governor should declare a state emergency seize genies assets under that Emergency Declaration under Eminent Domain and give those assets to a state agency to operate them in the Public Interest because from the san bruno natural gas pipeline explosion in 2011 where p. G. News found to be criminally negligent to this wildfire disaster with their transmission lines p. G. And as pretty as proved that they cannot manage the basic fundamentals of their being genie is doing to mother earth what Harvey Weinstein did to the meat to victims i think thats pretty clear its just as ugly you recently noted that the coal industry is looking for subsidies elaborate on this we have less than a minute we have 30 seconds so bob murray who was the recently departed c. Yo Murray EnergyCorporation Just declared bankruptcy really had the president s ear on National Energy and Climate Policy and he was pushing the trumpet ministration to orchestrate a National Bail out of coal fired power plants that were losing money to cheaper natural gas and renewables and so the trumpet ministration for the federal Energy Regulatory commission has been pushing to redesign americas electric power markets to give a huge taxpayer subsidized benefit to coal all right its like im thank you so much for all the updates fascinating stuff makes me sick but we have to talk about it thank you thank you and thats going to do it for this edition of the kaiser report with me max kaiser and stacey air would like to thank our guests tyson slocum if you want to catch us on twitter its kaiser report and fall next time by oh. Theres a tense situation in venezuela is still a little over the news the problem in venezuela is not that socialism has been poorly implemented but that socialism has been played only implement from the inside venezuela things are different were going to announce sanctions against the truest of venezuela so as you. Say mr templeton the filament is. Down. And it is soon to be the man of the moment. The whose story isnt new nixon called in Henry Kissinger to tell him that it would not be tolerated in latin america. In old times of economic and social system could take hold and therefore the policy would be to make. The chilean economy scream so wants to make the call in the venezuela screed. Ah. Ah. Yeah the belong to me soon enough to stop the song doom. Currently stuck in the middle of the screen. He thought the. Cardboard. Gonna suspect. The shit message will. Be soon since i dont want to be looking in on ya. Collar cardle much of the body. Which prosecutors dropped by 20000. 00 rape case against Julian Assange after admitting that they lacked evidence to challenge the wiki leaks founder. Of the sec to state my complaint announces new sanctions on the. His support for the ongoing mass rallies in the country around his backpack using america destroying its economy and inciting riots. United states will terminate the sanctions were related to the Nuclear Facility at fordo we do not expect anything else from mr pompei or disgracefully defense the maximum pressure regime and the imposition of sanctions on iran. And in a major policy on