Theyre doing and everybodys looking at the e. C. B. To cut rates that they can lend to businesses and grow the economy but actually over 85 percent of all bank lending is for properties and property bubbles so were stuck with that right i mean thats a transfer payment and they use derivatives these modern channels of banking and conduits to collateralize the property in the modern cars the french government the time simply seized via the Catholic Church their property securitized it and sold their currency back as such but here in the 21000 area they did they do it using reverse collateralized mortgage obligations and fancy wall street products but as you point out so so well there this is a replay of all the elements that led to the french revolution using Financial Engineering and securitization and. Riveted to debase the currency. Of his Art International story breaking into i showed you a program of codes reporter for enjoying it you far more a lot of course were going to go back t
And our nation as a whole. Next Congressional Panel looks at developing a National Paid Program House ways and Means Committee vote on how to pay with advocating a payroll tax on employers and employees. Congressman shares a committee. The committee will come to order. Good morning and welcome to our witnesses some who have traveled considerable distances to be here. Before we move toward scheduled Committee Business i want to take a moment to acknowledge the recent tragic passing of pamela, a valued member of staff with the joint committee for over 40 years. A reminder again of the considerable talent that exist sometimes outside of publicity. Pamela began her career as a joint committee on taxation in may of 1991 and applied her skill in many legislative issues with large and small. Her colleagues on the joint committee almost tireless and dedication to the joint committee and she accepted projects that were analytically difficult and often that of efficient. She was working on a leg
Politics the choreography of change Queen Elizabeth has to at all times remain rigorously impartial when it comes to politics but as head of state she has a vital role in fighting the next Prime Minister to form a government Queen Elizabeth see many Prime Ministers come and go during her reign Winston Churchill Margaret Thatcher and now Boris Johnson his place in british history is still being written earlier the outgoing Prime Minister to resign may also met the queen to formally tender her resignation in her final Prime Ministers questions on wednesday she was asked whether she was happy to hand over responsibility to a man she refused to back as leader of the opposition labor leader described as reckless this is how may responded. I am pleased to hand over to an incoming leader of the conservative party and Prime Minister who i worked with when he was in my cabinet. Who is committed to it as a conservative who stood on a conservative manifesto in 2017 to delivering on the voter the
Head of the Foreign Office. The other main stories on bbc news at five. Former labour Party Officials tell the bbc that some ofJeremy Corbyns closest allies interfered in the way the party dealt with anti semitism. A scathing report says the government has a ramshackle, dads army approach to Climate Change. Alexa, what are the symptoms of chickenpox . According to the nhs website, chickenpox starts with red. Feeling unwell . Now you can ask alexa whats wrong with you as Voice Assisted Technology teams up with the nhs. End of the murena show. As andy murray and Serena Williams have been knocked out of the mixed doubles. Its over and a shock result at the cricket world cup as india crash out losing by 18 runs to new zealand in a sensational semifinal at old trafford. Its five oclock, our main story. Britains ambassador to washington has resigned, following the leak of his confidential emails in which he described the Trump Administration as inept and dysfunctional. President trump had de
Play to Nigel Farages a group of School Children after failing to complete his party, they campaigned. Match at the french open injapan have been attacked by a man carrying knives in four hours last night sport now on afternoon in the fading light, a child and an adult kyle edmund took only seven minutes live with hugh ferris. Have been killed. To wrap up a win this morning. Coming up on afternoon we have got to the Europa League all the details later. Finaljust around live all the sport. We have got to the Europa League final just around the not the only one, that is the we have got to the Europa League finaljust around the corner in baku, azerbaijan, a long way to go problem for the labour party. Its and we have the latest weather not just Alistair Campbell that to the fans, but some of them good afternoon. Arriving already. Yes, doing their after failing to complete his forecast. Plenty of showers to keep turned his back on the party. The match at the french open in four hours last