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Kinko’s Founder Paul Orfalea argues there is a lack of consequences for bankers over the recent scandals such as with Libor.
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Hearing for our jobs.
There's -- more Americans are ditching debate -- banks say -- they're fed up with the seasonal hassles.
To the founder of -- Goss declines -- are still feeling the -- and they got to have to the government doled out to would have 45 billion dollars to bail amount.
They didn't lend any of that money -- -- or hello says the folks are right on the banks are way off pogo -- it.
Great to be here how you doing I'm good -- you know what's interesting ball is how many of them.
Have to have checked they go to you know a lot of credit unions a lot of them -- up with.
Brokerage houses are still -- just steps they're they're checks but bottom line.
A growing -- -- saying -- -- -- banks what do you think is really happening.
-- I don't know what's really happening but I found something in -- and Afghanistan.
The waiting -- their troops is everybody has a cell phone and they put debit from the cellphone.
And all the soldiers would for their -- -- to get their paycheck.
Now if Afghanistan soldiers -- -- to -- debit cards.
With their telephone.
Why can't we pay -- -- transactions a lot cheaper than going through conventional bankers.
-- Right now you're making -- so much sense to also try to go back into the -- to -- World Bank's.
And that is this that if a lot of people end -- doing that more than the one exam when -- -- -- doing it.
That's a good for the banks -- -- they're gonna be gone back to us for ballot what do we do.
Well what is wrong with the border director is holding.
A banks accountable let's look at Jamie Dimon.
Look -- -- the American public about a four billion dollar loss we haven't even heard.
The tip of the -- book and -- -- -- Libor scandal I think every mortgage rate every it every credit card debt was set to life.
And it was a corrupted rate by.
Bankers so you're you're saying -- these guys are colluding bunch of you know what's and they should be reined in but but but I'm wondering.
Be careful what you wish slower because the -- -- goes this week.
If they -- -- times again it's the 2008 meltdown all over again what what are you so.
I'm seeing hold these bankers accountable for us not to have fired Jamie Dimon.
The minute he lied to his shareholders.
It he has the nerve to go to congress and they all -- and you don't know befall you don't know if he lied to -- -- -- -- -- One month prior seeing it was a -- tempest in a teapot.
It comes out of billion dollar loss and and it's a four and a half billion dollar is still maybe I could sit -- he's still many deemed economic quarters over the lie.
In the -- he still made money.
Well I'm not -- to -- -- two wrongs make a right -- liar liar and I've seen.
The Libor scandal and when he comes out and says afterwards are you gonna give up Euro bonus this year.
-- he said it's up to the board of directors I want to say that he's on the board of directors why would the CEO even have a place on that board of directors.
Who does the tail wag the dog or does the board of directors have legitimate.
Reasons to hold these folks executives accountable well I -- about -- Well look I get this credit I think if you make money for your shareholders and you're doing well and -- -- we do well this errant trader announced.
By and large he's been making money for them -- but I think I -- see you going to here's what I wanna focus on now.
You think that average Americans are looking at all these developments the scandals the bad trades and saying that how would it and that will be.
Banks on doing.
It the unmitigated goal of the nerve of these senior folks take -- so much money in salaries.
And subverting our economy -- -- weakened.
Complain.
About our government -- spending but we have corruption and our banking sector like we did with the mortgages.
We have real corruption and -- society.
And I don't even know if you look at the balance sheets of how much bad but trillion dollars in student loan.
How much mortgage -- there is and you look at maybe that trillion to all the banks have aggregate -- -- -- equity.
Is there really equity and our banking system -- so.
I have not sure.
We're building -- house of cards and we're doing a lot of mark to market nonsense to keep these banks afloat.
So.
I think it's somebody out -- -- Somebody who's got a hold these folks accountable -- -- -- prosecutions of the banking sector.
And that's public should buy right BR very upset with the banks don't wanna -- them apparently are Paul awful thank you good see again.
Take care for.
