In this edition of The Keiser Report, Max Keiser, discusses US Treasury Secretary Timothy Geithner’s role in the plundering of our economy with Stacy Herbert, stating that, “Geithner was trafficking in inside information.”
Herbert and Keiser then discuss FedUpUSA’s own Karl Denninger, and his $30,000 loss at the outset of the market crash in 2007, and what Denninger thought had been the cause of his loss. Keiser states, “Karl Denninger is a keen observer of the market,” and “He’s an informed, sophisticated trader.” Making the point that if a guy like Denninger could be “bamboozled by insider trading by Geithner,” it should evoke a response of disgust. Keiser explains that this wasn’t merely about a guy trading on inside information, but that it is the Secretary of the US Treasury “throwing the country under the bus…” and that should disgust us all.
Could such insider trading, and back-stabbing by government officials, lead to a breakdown in the social contract the People have with their government? Keiser interviews Steven A. Ramirez, Professor of Law at Loyola, who states, “It’s not just the social contract in the United States that is at stake here. It is capitalism itself.” Ramirez goes on to explain that he believes we have a reality where a small cadre of individuals are above the law.