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Barack Obama has repeatedly vowed, and failed, to close Guantanamo Bay prison. And now some legislators actually want almost a hundred million dollars to construct new areas in the camp able to house over one hundred and fifty terror suspects, without trial or hearing. For more let's talk live to public defender Carlos Warner who represents twelve detainees at Guantanamo.
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the warning from legendary stock market speculator, Jesse Livermore, that speculation is "not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor." And, yet, speculation has become the economic model for a nation of stupid and mentally lazy speculator-taxpayers. They also discuss splat collateralized debt obligations and fracking Walden Pond to pay off our bad debts. In the second half, Max interviews Steve Keen, author of Debunking Economics, about housing bubbles, falling wages and why Mom & Pop investors are always wrong.
The suburbs east of Los Angeles were once a magnet for restless newcomers with big aspirations, but jobs never really followed. Today, poverty is growing faster in suburban areas than in cities or rural areas.
Since word spread of the turn in Brunei toward a harsh form of Islamic law by Sultan Hassanal Bolkiah, whose Brunei Investment Agency owns the Beverly Hills Hotel, Hollywood has turned its back on the hotel.
While reports of a Facebook phone have been circulating for years, a Facebook patent filing has surfaced that shows the exploration of a unique smartphone with touch pads on the rear and side of the device.
A look back on our reporting of the past week's highs and lows in finance.
Common Sense: Morgan Stanley Is Still Silicon Valley's Bank of ChoiceSince Facebook's bumpy initial offering, Morgan Stanley has been involved in 47 technology public offerings with a total value of $23.4 billion, writes James B. Stewart.
An Apple Deal for Beats? The Reaction on TwitterApple's potential $3.2 billion acquisition of Beats Electronics, the company behind the Dr. Dre headphones, has ignited a flurry of activity on social media.
Standard Deduction: With Gridlock Comes Piecemeal Tax LegislationRenewing the tax package temporarily creates more opportunities for industry groups to lobby Congress, and for legislators to shake down the beneficiaries of the tax breaks for contributions, Victor Fleischer writes.
Collapse of Ad Giants Merger Deals Blow to MoelisWhen the $35 billion merger of Publicis and Omnicom was announced, it served as a showcase for the rise of boutique investment banks like Moelis & Company. Now, the deal will cost Moelis in more ways than one.
Reuters Breakingviews: The Human Factor in Merger CollapseAdvertising is a people business, and it's not clear that the scale a combined Publicis and Omnicom would have brought to bear would have generated more creative ideas, writes John Foley.
Goldman Under Investigation for High-Speed TradingThe bank disclosed the investigation in a regulatory filing on Friday but did not identify by which agency. The filing also confirmed that the bank was under investigation for its hiring practices abroad.
United Spirits to Sell Whyte & Mackay WhiskeyIndia's largest distiller will sell its Whyte & MacKay whiskey business to Emperador of the Philippines in a deal that values the business at 430 million pounds, or about $726.5 million.
U.S. Sells More Shares in Ally FinancialThe Treasury Department said on Friday that it would raise an additional $181 million from a sale of shares to the underwriters of Ally's initial public offering, reducing its stake to about 16 percent.
Co-operative Bank's Chairman to Step Down as It Seeks to Raise £400 MillionRichard Pym plans to leave at the end of year after joining the bank in July as part of a management shake-up. The news comes as the bank prepares to bolster its capital.
At Odds, Omnicom and Publicis End MergerClashing personalities, disagreements over how the companies would be integrated and complications over legal and tax issues have derailed the deal between Omnicom and Publicis.
Apple Said to Be in Talks to Buy Rising Music Brand for $3.2 BillionA deal for Beats Electronics could signal an effort by Apple to transform its approach to music more than a decade after it opened the iTunes download store.
Red-Hot Web in China Richly Rewards Foreign InvestorsThe lucrative returns have raised concerns that China could tighten restrictions to ensure control over one of the most dynamic parts of its economy.
Regulator Suggests End to Banks' Self-GradingDaniel K. Tarullo, a Federal Reserve governor, said regulators should consider stopping the practice of banks' using their own internal models to set capital requirements.
Some Investors Bet on Return to Reverse MortgagesA reverse mortgage start-up based in New Jersey has raised about $230 million in a private offering, which sets the stage for a potential initial public offering.
Bank of America Shareholders Press Officials After $4 Billion ErrorBank officials said they were conducting a "third-party review" of how the problem happened, but declined to name the firm conducting the review.
The Trade: Seeking Tough Justice, but Settling for Empty PromisesThe Justice Department has grappled with how to bring accountability to top executives, but often runs into roadblocks that it fails to surmount, writes Jesse Eisinger of ProPublica.
Chinese Giant Alibaba Will Go Public, Listing in U.S.The e-commerce behemoth Alibaba Group filed paperwork in the U.S. to sell stock to the public, a coming-of-age for China's booming Internet industry.
2 Apollo Global Partners Are Said to Be LeavingThe departures of partners from Apollo Global Management underscore the growing pains that Apollo is facing as it adjusts to life as a publicly traded company.
Bayer Buys Merck's Consumer Business for $14.2 BillionThe deal will make the German drug maker one of the largest providers of over-the-counter products and give it such well-known brands as Claritin, Coppertone and Dr. Scholl's.
French Set Conditions for G.E. Takeover of AlstomFrench leaders said they would approve G.E.'s bid only if the deal could be completed in a way that protected French workers and the French industrial base.
AstraZeneca Makes Its Case Against Pfizer's Takeover BidIn presenting long-term financial estimates, AstraZeneca said it expected to achieve annual revenue of $45 billion by 2023, suggesting Pfizer's bid undervalued the company.
Deal Professor: A Truce at Sotheby's After a Costly and Avoidable BattleSotheby's spent millions fighting Daniel Loeb, but in battles with activist shareholders, the rule is to compromise, writes Steven M. Davidoff.
France Says It Opposes G.E.'s Bid for Alstom UnitThe French government said Monday it would oppose General Electric's friendly $13.5 billion offer, though its legal means for stopping a deal appear to be limited.
Greenlight Asked S.E.C. for Delay on Disclosure of Micron StakeGreenlight Capital, a hedge fund headed by David Einhorn, asked the Securities and Exchange Commission in November for an extra seven days before reporting a huge stock buy.