Morgan Stanley, one of the largest banks in the United States, reported a 66% increase in earnings in July over the same period last year. Morgan Stanley had taken more than $107 billion of U.S. taxpayer money through the bailout programs in the wake of the financial crisis that it helped to create, making it the largest U.S. recipient of bailout funds.
Like the other big banks, Morgan Stanley had been busy paying settlements for the massive criminal fraud conspiracies it engaged in, particularly related to the housing crisis. In 2011, the banks came to a $40 million settlement with the state of Nevada over mortgage fraud.
Every week Max Keiser looks at all the scandal behind the financial news headlines. This time Max Keiser and co-host Stacy Herbert look at the scandals of “magic wands” to fight deflation; “hidden debts” in Greece and active CIA agents “moonlighting” for corporations. Max Keiser also speaks to investigative journalist Paul Moreira, about his new film – “Afghanistan: On the Dollar Trail”.