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tv   Boom Bust  RT  July 1, 2021 9:30am-10:01am EDT

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if you're such as blocking links to other social media sites within its own messaging function, which i, i struggle to see how that cannot be seen as anti competitive behavior. don't forget that a monopoly is not defined on whether other competitors exist. it's determined by market share and right now facebook has overwhelming market. sure. not only of social media users, but also of case d t i consumer information, which is actually the, the main way they get their money. that's just a small man. what we're talking about this, those you'll find so much more nancy dot com, run ever social media, get it over the conversation as well. go to the comments section r t dot com. let us know what you think. and if you don't load or you get breaking news to your mobile devices since that happens, but for now, kevin, now one of the team signing off of a good day. ah, welcome to mac or finance or survival guide,
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looking forward to your message. this is what happened is the benches in britain still at the top of you watch report me make notes. certainly no borders and the blind number please emerge. we don't have authority. we go to the back seen the whole world needs to take action and be ready. not a joke. people judge, you know. 2 come crisis we can do better, we should be better. everyone is contributing each in her own way, but we also know that this crisis will not go on forever. the challenge is paid for the response has been massive. so many good people are helping us. it makes us feel
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very proud that we need together in imagine picking up a future textbook on the early years of the 21st century. what other chapters called gun violence school shootings, homelessness 1st, it was my job then it was my name was my savings. i have nothing, i have nothing and it's not like i don't try. i look for resources, i look for jobs, i look for everything i can to make this pass. and all i end up doing is passing the road to the american dream, paved with dead refugees, burial. idealized image of the older america, native americans look past the death that happened every single day. this is a modern history of the usa, my america phone, r t the
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visit been but the one visit show you can't afford to miss. i'm rachel robins in washington, coming up. victims of a devastating condo collapse in florida are already starting to file lawsuit will take a look at the urgent warning signs and why no action was taken. while waste chief financial officer to the washington of making out right false claims, in their case against her as she continues to fight extradition from canada to the us. that a veteran judge is giving the fcc a 2nd chance to go out to facebook. but what lead the consequences over claims is the social media giant violated antitrust law. we have a lot to get to so let's get started. the collapse of
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a residential building near miami has resulted in at least 16 confirmed dust, with nearly 150 people still unaccounted for. as search efforts continue around, the clock lawsuits have already started to pour it was survivors accusing the condo association of knowing that such a devastating collapse was eminent and refusing to take the action to prevent it. archie john, honey, is on the ground in surfside, florida with the latest well as the death toll continues to increase and sadly, i know this is grim, but that will likely be the case in the coming hours and days and even weeks ahead . but as the death toll increases the investigation into what caused the collapse of the 12 stories of the champlain tower south building, just over my shoulder behind me here, is really in its beginning stages and is increasing in intensity involving not only local, but also state. and federal officials that according to the mayor of miami dade county who spoke earlier, here's what she had to say. listen,
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i've been in close contact with our state attorney, kathy fernandez. rundle and her office will be spearheading. we hope she'll be asking the grand jury to do an investigation into the collapse. we're going to get inputs and develop a set of recommendations for changes that need to be made here in the building process at the local level. to ensure that this tragedy can never ever happen again . and that process will not only evolve, taking a look at the counties own rules and regulations and ordinances, but also probably statewide regulations having to do with building construction and the re certification process. and as the investigation continues into this building, as you can imagine, all the other buildings in this area are being looked at very closely as well, including, of course, the other champlain towers, buildings, champlain towers, north and champlain towers each just basically to the left my right camera left my right of the champlain tower south building. now,
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earlier i spoke with the residence of those buildings, one of whom lives in the champlain east building. he says that was built in 1994 and he said it costs you a dozen engineers and inspectors have been on site every single day for the past week. he says, the residence there have been given a quote unquote bid thumbs up. told that the building is structurally sound that they can remain there, but we're also hearing that some residents have opted to leave to go to family, to friends, or to be put up by the various charitable organizations as the investigation process continues. not only champlain tower south, but again of some of the neighboring buildings that said, president joe biden is expected here on thursday to not only look at the site to see the damage, but to also meet with the victims family members to provide them with some prayers to, to just be there to comfort them representing of course, the united states of america as the search basically process and the search and rescue operation and remains a service search and rescue operation. as that continues florida governor,
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ron de santa saying he will not in the state, the federal authorities will not leave any one behind. but clearly this is a catastrophe that certainly had many factors leading up to it. and it's just a very grim and terrible situation for the community and for florida and america as a whole. in surfside, john had a party. joining me now to go further in depth on this is sarah pap, antonio, associate attorney at 11 papa tonia rafferty. now, sarah, the 1st lawsuit was filed less than 24 hours after the building collapse, asking for compensation for all of the victims involved. there are likely to be many others filed, but the biggest accusation here is that the condo association knew that there was significant damage to the building and didn't address it. do these victims appear to have enough evidence to prove negligence in this case? yeah, you know, here it looks like the point us had everything needs to move forward in this stage
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in 2018. you have an engineering company telling us homeowner's association that there are major structural damages. that there is abundant cracks in the structure . then you've got an investigator telling the h away that they're looking at $8.00 to $9000000.00 in damages. but not only that, 2 years later, in 2020, we re re estimated those damages and they re estimated the structural damage to be $12.00 to $15000000.00 and repairs. so we absolutely have multiple instances where the h away was notified of these issues, you know, for years at this time. and that's what lost, it's like this come down to did the defendants know about the issue before it came a problem? and that's absolutely clear in this case. so we've got enough to move forward on that. and it certainly seems like this is almost just hiding in plain sight that this was something that was talked about, but action just wasn't taken. now i want to touch on that engineering port report
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you mention that warned about severe structural damage back in 2018. and they even talked about a possible collapse of the building altogether. but we saw just one month after that, a surfside town inspector met with residence and assured them that the building was in very good shape and that they had nothing to worry about. so was it possible that we could even see criminal charges filed surrounding this collapse? you know, and this case, i think anything's possible, but i don't think we have enough to file those criminal charges just yet because that's in the criminal in the criminal realm. we've got a level of culpability that you have to reach in order to bring those charges. and as it stands right now, i just don't think we have enough information to raise that. now as we start uncovering the documents, in this case, that's when we learn whether or not there was any type of cover up or if there's any type of just shading this involved to the situation. but right now, we just don't know enough to bring those charges, and the hope is that eventually everything will come to light. now,
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when it comes to cases where damages identified like this one, how much of your responsibility does say the condo association, have to not only notify those residents, but also to pursue repairs in the interest of safety. while the h away, the homeowners association has their duty here, they've got the duty to maintain the structure of the building, the duty to be aware problems with the building and then the ultimate judy to fix those problems. so what i think happened here is the h away pushed off all of these issues for as long as they can. and that's because miami requires that all buildings that are 40 years or older, go over what we call an inspection process or a re certification process. so this building was right on the edge of that 40 year mark in 2018 when they got that notice of the structural damage. so i think what we're going to see is that the h away was given this $9000000.00 tab of bills for repairs and said, hey, let's just push it off until we absolutely have to until like 2021 mark. when we
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hit that 40 year requirement to do the recertification, so as more and more information comes out as more documents come out, i really think we're going to see the h away. in this case, just pushing off the repairs for as long as possible in order to save money in the long run. while this truly is a shocking and tragic case all around, but we will continue to follow sarah pop antonio. thank you for your time and insight on this one. thank you. divine administration says it is just around the corner from passing a one trillion dollar infrastructure package after it was given the green light by a group of bipartisan senators, but by then travels the country promoting the plan. many have been quick to note that the new compromise doesn't include some of the hallmark provisions that were originally promised by the democrats in power and its success is still not guaranteed. so joining me now to discuss the latest is professor richard wolf, post of economic update and author of the thickness is the system. now, professor,
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the plan seems to be to pass a traditional package with funding for public transportation, roads, water and power right now. but to keep fighting for what they call human infrastructure funding later on, why do you think we're seeing more? why do you think we're not seeing more of a fight from democrats on measures such as pe, leave, child care and climate change? when we know that they are the one to hold the majority, well, i think you are seeing kind of political horse trading of the sort that is unfortunately, very common is levels of our government and you're seeing a tragic the economy is in very serious trouble. it has been for the last decade, we had a crash in 2020. we've had the cold disaster making our problems even greater. it was clear that even donald trump understood you have to spend massive amounts of
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government on it to keep this economy going. i do not exaggerate when i say to people, this is a capitalist economic system on life support from the government in the form of money. and that's because everybody who pays attention knows that they need to spend the massive amounts of money. the irony is, the republicans are making that very difficult for mister biden to do so. he compromises. he scales it down. the irony here is, and it's politically dynamite. if they don't go ahead and do things, if they keep postponing as your correct introduction to this, not doing half of the things they promised and saying will come later. the longer they weigh, the longer they cut the amounts of money, the less support they give because the government. and here's the irony. when that
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comes do, when people are not getting the support they need, the republicans will blame the democrats because they are in power for having done that. and that's $12.00 punch that the democrats are looking like. they're walking into that trap. yeah, it really does seem like whenever it comes to this, it's not only politics as usual, but it's also the blame game as usual. now, even with compromises and all of this back and forth between democrats or republicans, there is still guarantee that this plan will actually path. and you know, it's interesting because congress doesn't seem to have any problems when it comes to agreeing to say, $700000000000.00 defense spending bill. so why does it take so much for them to agree on the most basic infrastructure proposals that would impact every american well give you another example, which only strengthens your point in december of 2017, the united states congress and the president gave corporations and the wealthiest
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amongst us, the biggest tax cut in the history, they didn't need, it, hadn't even asked for it. they were just given certain things in our political system are given, the defense budget tax cuts to corporations and the rich. what the minute you go to try to do something on a mass basis to help everybody. a fear goes up in the minds of corporations and the rich, namely that sooner or later the bill for those things will raise their taxes and their so committed not to have that happen, that they blocked the very infrastructure, spending family support spending all the rest of it that the democrats traditionally support as an economist, let me tell you, this is self defeating. this is shooting yourself in the foot. if you don't support the basic economy that will come back to her corporations and the rich
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a lot more than whatever taxes they may say. yeah, exactly, and now we're seeing the evidence of that all playing out, especially at a time when the u. s. is now facing its worst route in 1200 years. taxes in california are already issuing energy conservation warnings to their residence. and now all of a sudden major u. s. companies are voicing concerns about water scarcity. i know you mentioned big corporations there, but is this a case where it's going to take those corporations being hurt by the impact they're having on the environment on the country for any meaningful change to actually take place? sadly, that's the way this country seems to work and it ends up making us wait too long and doing too little. so as we, when you go to a doctor, he tells you, come sooner when something hurts. so it doesn't get worse before you come and get
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medical attention. it's the same with nomic, attention. corporations have been using the water in the west for decades. the crisis of water coming has been spoken about by, by ecologists, by water specialists for decades to little bit like hearing about that report. a 2 or 3 years ago about the building that fell in miami. we know what the problems are, but the ability to take action is hampered by financial issues by profit concerns. and the bottom line is that's a mistake and set of values we give out more when we don't respect major on the water than we gain in the extra profits. but our profit driven system works the way it does and presents us with the sand pictures such as those years, all great inside, as always, professor richard wall. thank you for your time. thank you. while way executive
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main ones though is back in court in canada this week, her defense team is promising to turn her high profile case on its head with a set of documents that they hope will help her to avoid extra addition to the us. r t z alex hi lavette. how's the story? as a record breaking heat wave begins to cool and the canadian province of british columbia . a high profile court case is promising to heat up. according to what we see at the main one shows defense team this week, documents tied to hsbc will be introduced in the court proceedings showing that the u. s. meet selective misleading and outright false claims. in regard to men's canadian extradition hearing to the united states. according to the us justice department, 13 accountant date meant mingus charged with bank fraud, wire fraud in conspiracies to commit bank and wire fraud. the 49 year old wall way cfo was detained by canadian officials in december of 2018 at the request of the u
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. s. government during the trump administration. since then, she has been dragged through the canadian courts for years, fighting extradition to the u. s, which wants her to face charges of fraud and conspiracy in relation to allegations that she lied to an h. s. b. c. executive in hong kong in 2013 about wally's control of a subsidiary sky. com, which is accused of violating us sanctions against iraq. now her defense team says that they have more than 300 pages of internal email chains and bank documents from hsbc that undermined the allegations against ming. the documents which to this point have been out of the view of the public, were obtained from hsbc through hong kong court, months ago. and according to the defense fallen line with what while way has been claiming for years. here is former vice president for media affairs for a while way canada benjamin house, back in may, 2019. the criminal case against miss munger is based on allegations that are simply
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untrue. to the contrary, it was made clear that the business activities by miss mung, were conducted openly and transparently with the full knowledge of banking officials. according to an official statement obtained by rti from war way. these documents, consisting of emails and other hsbc records show, there is no evidence of fraud on h. s. b c. they show that wiley's control over sky. com was not kept from senior hsbc executives that the continuing nature of scott comes business with one way any ran was not kept from senior hsbc. executives that internal hsbc risk assessments were made based on knowledge of the true facts and that any reputational risks were managed with the knowledge of senior hsbc executives. both main and war. wait deny allegations that she misled hsbc about why we control over sky. com. putting the bank at risk of violating us sanctions against the ran government attorneys are
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expected to argue that the hsbc documents should not be a part of the canadian court record. contending that the information is more suited for a trial rather than an expedition hearing. the proceedings are expected to wrap up in august for our t. i'm alex, mileage time now for a quick break, but when we come back, a federal judge is giving the s t c a 2nd chance and its anti trust case against facebook. we'll take a look at how the latest decision could impact the social media giant. next, and as we go to break your, the numbers out the clothes shoes . ah, is your media a reflection of reality?
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in a world transformed what will make you feel safe for the tycer lation whole community? are you going the right way, or are you being that somewhere? direct? what is truth? is faith in the world corrupted. you need to defend the join us in the depths. will remain in the shallows. ah ah, ah. the
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it's been called the sat back for both state and federal prosecutors after a judge dismiss 2 major complains, filed against facebook. the allegations that the world's largest social media giant violated anti trust laws are really nothing new. but the latest decision is raising questions about whether any action will be taken against the company anytime soon. so joining me now to discuss this on our fox for foster of law at new york university. now, professor, the judge is actually giving the federal trade commission a 2nd chance to file an amended complaint within the next 30 days with proof that their of their claim that facebook has monopoly power. so how likely is this complaint to move forward and what does the judge seem to be looking for here? hi, rachel, and thanks for the question. so it really was a setback that the judge dismissed both cases. and as for the federal trade commission case, the court said that with all the allegations,
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the federal trade commission put in its complaint, the judge didn't think that there were enough allegations so that he could infer that facebook has a monopoly power. and that's one of the 2 stages that the f t c must get over to in the case, the 1st one being monopoly power, the 2nd being illegal conduct. so yes, it's nice for the f t c that they have a 2nd chance. and i believe they turn allege the facts to show that facebook has monopoly power. but the big thing is, how can a judge dismiss a complaint? just because he doesn't think that there are sufficient allegations to prove that facebook has monopoly power? i think the whole world knows that facebook has dominant power and our law is so conservative that it puts the plaintiffs to burdens of proof that sometimes they
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just can't meet. yeah, and it was interesting to hear that from the judge in a way you're wondering if he's actually trying to help out the fcc by telling them, hey, this is what you need for your argument. but then at the same time, you're also wondering about why he said what he said. now what was also interesting was that the state complaint over facebook acquisition of instagram in 2012 and what's up in 2014 was also dismissed. and the judge said it was because a group of 48 state attorneys general waited too long. now, if there was such a broad consensus that facebook was violating the law, why do you think they waited so long to take action? i actually think the judge's decision is a bum rap. it became clear only much more recently than those acquisitions that facebook had a very specific plan to gobble up its competitors and potential competitors and
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budding competitors. it even have the software program to identify the startups that were most likely to be competitive with facebook. and it became very clear only recently that this was facebook plan. so looks in the states did not know this information at the time, the acquisition to or 1st looked at by the government. and in my view, they ought to be able to bring their claim to day and not be precluded by this doctrine. says you wait too long and now you've got to. yeah, that's a good point as well. especially when you think about the fact that facebook wasn't quite advertising that whenever they were making these acquisitions, of course, now this information is finally coming to light. and you know, we've seen some movement on anti trust reform legislation in the house and they include provisions that could force the breakup of companies like amazon and apple that use their market place to also sell their own products. is, is
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a case where the current anti trust laws need to be updated to include today's technology, or is the law clear, but it's just not being enforced by the government. the law is not so un clear the law is very, very pro defendant. the law says we just have to give a whole lot of slack to firms, even if they're dominant monopoly firms, because what they do is so likely to help competition and consumers and result in innovation. so yes, the law has to be changed. it is too conservative, it does not address our current problems. excellent points we consider here, professor eleanor fox. thank you so much for your time today. thanks, rachel. the next big as he auction is a true piece of internet history. luxury auction house, other bees just sold a non fungible token for the original source code for the world wide web. the n f t
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includes nearly 10000 lines of code from internet founder tim berners lee, including h t m l h t t p, and u r i. the winner also gets original documents telling early users how to use the world wide web and is now the owner of a 30 minute animated visualization of the code being written. the final price was just over $5400000.00, and yes, it can be paid in crypto currency. and that's all for now. you can catch boom bus on demand by downloading the portable t, v out for your apple or android device. we'll see you here next time, and as always, don't forget to question more me, ah, there's a concept economics moral hazard. and that is that if you constantly bail out the worst factors in the economy, they will act with morality. and so the fact is they've got moral hazard steroids.
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they're rewarding the worst factors who are doing things like info and stealing hundreds of $1000000000.00 from people and destroying their own country in a trees. in the fact i argue with me, go ahead, try to imagine picking up a future textbook on the early years of the 21st century. what other chapters called gun violence school shootings, homelessness 1st, it was my job, then it was my name was my savings. i have nothing, i have nothing and it's not like i don't try. i look for resources, i look for jobs, i look for everything i can to make this pass. and all i end up doing is testing the road to the american dream, paved with dead refugees at this very idealized image of the older america, native americans look past the depths that happen every single day. this is
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a modern history of the usa, my america on our t the y 5 for moscow, top stories more and more graves of indigenous children of found in canada, while the grand for form of catholic run school, bringing the total ed over a 1000. it's probably the prime minister to ask pope frances to make amend the community. i really hope that this time it will lead towards the pope coming onto the canadian soil and apologizing apologizing directly. elsewhere as a highly infectious delta strain of covert plunges, rush into a new wave of the panoramic. moscow makes proof of vaccination q r codes man. the trick to be able to get into restaurants and cafes. man in the capital put the system to the test and find a fish inside 8 bit free and i get.

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