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Oliver stone's Wall Street sequel money never sleeps is going strong at the box offices it is a timely well research movie that gives the audience and peak.
In the forces that created the financial -- and of course we get to catch up with one of film's greatest characters Gordon -- Earlier today I had a chance to sit down -- Oliver Stone director we had a good back and forth.
About money government and of course -- friendship with although Chavez but I started by asking about one of the inspirations.
For his Wall Street movies.
A lot of people might not know your dad was it was in Wall Street right did that.
It was that sort of -- -- over in his grave -- But father died in 1985 -- started 31 under the depression.
He would hardly have that he.
With the banks doing with it and the incident goes -- what did you -- about what Gordon -- was insider trading -- was in the legal.
He was a -- he would go into these companies he -- -- and you take the company's.
And he can lesson for the cash that's a lot of our tournaments are -- -- believe it's part of what's destroyed America was the productivity of America.
Has been used for money purposes people who you know people take overcome these get a take the best assets they -- the -- and in the rid of the company.
Do you think America's been destroyed -- it's on the way -- you know the productivity of our country dropped enormously in those years as a waitress you know we -- productivity increased as a result of computers and stuff like that I mean that's that's the well let's say pretty real estate financial services in this company in this country the corporate profits of financial -- more than 40% back in 1980.
Seven it was sixteen person.
So if you call that crop productivity the financial services increased -- but that's on paper.
And that's like what we -- steroid banking -- -- moving money around the system I would like to see real productivity.
But like justice should be competing with China as well as Germany I would I think we can't we have a great country we have people who are very ingenious.
But it's not just about computers.
We've got to find ways to make good products I think business in America -- should be competitive should be healthy people should be encouraged to agree to full employment economy.
And let's -- the new and I'd like to see if.
We were on the what I'm thinking of is that there's a difference between the Wall Street mentality.
That that aspect of capitalism and and small and midsize business completely different -- about several positions pay they don't know too much of the bank and that the bankers don't have that and the private equity for I think the way the point which recruit his arm of the free market cap was -- hard I think you're less enthusiastic about it but at the same time we both agree.
That a lot of these corporations.
Should never been bailed out by the government that was that was really the problem -- middle class America.
Was forced to bail out the millionaires and billionaires.
That was when we got it started way back when those -- you would say lucky Chrysler they point back to those cases fair about long range capital in 1998 that should have been let go and -- -- it was a disaster or Enron was ignored it was on the books.
Appalachian chain of -- reported that that they ignored this.
You counting also don't forget the accounting companies will remember Arthur Anderson used to -- lot to me.
When that went down within one I was shocked right it's an accounting -- be the way of accounting exchange.
It's the transparency is -- become part of it is because of their relationship with government though again the government comes into play here -- the big guys can who can afford the million dollar and lawyers in -- lobbyists and -- They're the ones you get the special cut -- all the -- -- is -- -- little guy's ball that the new financial regulation bills an example of that with the big guys that Goldman Sachs are doing fine.
But the small and midsize banks or not.
Lehman -- is a case reports of Fannie -- -- Detroit by the way as those that government but it's toxic because.
The government and business -- in this collusion and on the large level too big to fail.
They scare you.
You've got to say that I say let him go don't get scared by the I think by now we have new banks if all these old banks clean them out including Goldman what has -- been a whole new set of Mexicans they -- they didn't actually need for banks to come into the system.
By now two years later we start to have people that you're psychologically you're going up so I would rather have a small -- become big.
And and find its way in this new system -- to support these big banks on medication basically yeah -- dollars I think you've got a great point it's funny that a free market guy like me and a guy who's now how would you describe it I believe in markets can you can tell us what's in there and distribute well I do I do -- my father -- capitalism doesn't work on paper but it works in reality it isn't -- to capitalism.
And it was believed that it but it's been under it needs to to have moderation capitalism in moderation where police -- No profit without production and I think this there's a truth about production that's been -- here.
If you take money you make money -- money but it doesn't mean anything that's what the banks -- doing -- -- -- so I think we lost what America was about which is productivity.
Well and you say -- associated business you're talking about as you were growing up -- associated business with a get rich mentality.
That may be well be true for the Wall Street folks you're talking about but.
For about 70% of America that is small and medium sized business that's not the case they put all of their profits back into their company you know suck them out the -- the private equity forums -- It -- and also those private equity -- -- -- to the American boat they.
Those guys should go to jail for what their son if he -- know that that was toxic those sub primes.
As well as -- and sometimes were terrible the countrywide scandal and certainly in that junk to the American people salute to endowments and salute.
To pension funds union pension funds teachers association.
-- was wrong and then again countrywide got the bailout from the government by Chris Dodd who was getting a little favor from countrywide is -- on his mortgages.
So they got a a bill that was a 300 dollar billion dollar bill.
Written just to take their toxic assets off the book.
You've appointment mean government when it gets into the money game it becomes very confused in the night and I don't agree with the bailout.
I think we have the government did get into the game went for it through the window ability Franklin Delano Roosevelt got in in the thirties and they put a set of regulations all of which restrict.
That the commodities futures the modernization -- -- Robert Rubin this is responsible.
As anybody in the in the recent Treasury Secretary for Clinton so Summers by the way -- resigned and so is Alan Greenspan.
They let the country go and they believed in free market free market being -- version does not work.
Infect your hero on the on the -- -- -- and Alan Greenspan.
As a big devote to giving up my hero that he believe totally in premarket he told -- report back in the ninth late nineties that.
I don't believe he should prosecute fraud he says that are in the great dialogue I don't believe should I think the market will prosecute fraud and -- -- I'll tell you my heroes was Milton Friedman who said the biggest enemy of the free market is not the socialist.
It's the corporation that wants a free market for everybody except -- I think you'd agree with that.
That's probably correct except Milton Friedman -- the boat with the public places because.
What he created he was -- apostle for a lot of for Ronald Reagan and I think.
There's a need for free market at the -- tournament host of moderation in regulation.
-- Friedman was a big supporter of the -- dictatorship.
In the 1970s he went down there and he gave me great advice.
And it was working -- worked jointly work dictator you know -- -- -- public of their agreement there are a lot of dictators that don't have free market policies and they don't work.
That's true to this was a dictatorship that worked with Maria -- -- -- right though that you're really controlled the market by shooting people.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- By the way this whole thing about him being a socialist I got the figures from you may not agree with a -- 8% of the economy was nationalist 8% of the GDP that's not a lot.
At the end of the day you go to Venezuela you have bonds and those -- you can make I know guys in the 10% 12% on the -- up until about a year ago so as well as very much -- working and he's been in.
Power they have pulled -- about 700 billion dollars of revenue from oil.
And from taxable and the -- about where that money is going there's a lot of it's missing a lot of we won't even.
His deals with all the governments and the rest of the governments of Latin America my -- I know Nicaragua -- well I -- -- a lot.
He has these deals with Nicaragua where he gives oil at half price of and that -- aghast that they pay -- -- -- Is twice what we pay for here and that's -- Nicaraguan exit Nicaragua and Venezuela product is -- a joint cooperation I don't know -- you know kind of ridiculous controls price of gas in the -- I finally we're glad America which waters it is.
Let me tell you it is one of the most corrupt non transparent places in Latin America -- -- You're gonna get burned over Venezuela before I ever did indeed owners say thank you say there was is even more problem let's use that it was terrible before I left I would have a terrible cut through the corruption by having -- separate accounts by sending a lot of the money from the development banks to his bank account -- myself on that -- already there.
He has discounted oil like -- 160000.
American families is through -- it's a great PR effort it's working in Boston but it's a PR effort it's it's it's this much of -- -- -- from the nobody talks about what they do you're talking about you know I'm one of the few.
Well we've we've talked about it on Fox News what I -- Haiti and it promises -- He's learned a lot pretty good that he does in terms of sending money for people that's fine but he's a corrupt guy you're gonna get hurt if you think he's -- he's --
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