February 9 - The HSBC Swiss Bank Files Reveal Full Service Tax Dodging; Obama and Merkel and the Different Security Cultures in Germany and the U.S.; The Consumer Financial Protection Bureau Goes After Payday Lenders

Full Program

Part 1

We begin with the report from the International Consortium of Investigative Journalists, based on files from insiders at the Swiss branch of the British bank HSBC revealing the bank provided extensive services to wealthy customers including politicians, royalty, soccer and tennis pros, Hollywood actors, rock stars, dictators, arms dealers and criminal bosses, enabling them to avoid paying taxes and conceal millions in assets. William Black, the former chief prosecutor who investigated the savings and loan disaster and is the author of “The Best Way to Rob a Bank is to Own One,” joins us to discuss the list of 100,000 clients with accounts containing $120 billion and hidden assets of 204.5 billiion. 

Part 2

Then we look into the White House meeting between President Obama and German Chancellor Merkel ahead of her planned meeting on Wednesday with the leaders of France, Russia and Ukraine. A specialist on German security policy,Thomas Berger, Professor of International Relations at Boston University, joins us to discuss the different security cultures in Germany and the U.S., highlighted by contentious exchanges at the recent security conference in Munich between Angela Merkel and Senators Lindsey Graham and John McCain.   

Part 3

Then finally we speak with Rebecca Borne, Senior policy Counsel at The Center for Responsible Lending who focuses on regulatory and Policy issues in particular Payday lenders. She joins us to discuss recent moves by the new Consumer Financial Protection Bureau to reign in the abusive practices of payday lenders, a $46 billion industry that charges up to 400% interest and hooks poor people on loan after loan to pay off earlier loans. We also look into how the prospect of new federal rules is driving payday lenders to lobby state legislators in Kentucky, Washington and New Mexico where they have tapped former Governor Jerry Apodaca as one of their lobbyist.