Daily Rant: The Young Turks’ Cenk Uygur talks about the proof that banks, designed to be vehicles for lending, are a bad investment.

MSNBC TRANSCRIPT:

>>> all right. the turk’s in the house, people. a little daily rant, cenk uygur, the floor is yours.

>> it turns out the banks haven’t just been screwing the american taxpayers and the people putting in money, and the people they’re foe closing on. they’re also screwing over their investors. the banking industry is the worst place to put your money over the last five years according to the boston consulting group you would have lost 1.9% of your money. that despite enormous taxpayer bailouts. but wait, you’re saying, i don’t get it, didn’t we put all that money in there? didn’t they take it out? they had record paydays. i’m not talking about the executives. i’m talking about the investors. it turns out banks, like i said, the very worst place you could put your money, if you were an investor in other sectors, for example, you did okay. 16% for chemical and metals, they went up. consumers goods went up 9%. the one sector losing money, banking except the people not losing money are the executives, because they’re sucking all the money out of the banks. let me give you examples of golden parachutes. merrill lynch, a guy leaves, $161 million. countrywide, $56 million, lehman brothers there $24 million. bear stearns$13 million. jimmy cayne from bear stearns walked away from $380 million. and richa fuld, kept $5250 million.

>> nothing like paying off the politicia politicians.

>> that’s the thing, they don’t care about the we’ve got to fix it, because they think, why don’t i take all the money out, who cares about my investors or shareholders, as long as i get to take the money out?

>> and if you look at the core aspects, the last steel on wheels tour, john hennessey, the president of stanford, all these kids with all these ideas, obviously google and these companies come out of the stanford. i said, what’s the most important thing for your kids to cultivate these ideas, energy health care, he said, i need dynamic investment of money to actually develop these ideas and these businesses into things that actually solve our problems. luckily, we here at stanford have this ring of money. well, in america, the financial professionals no longer make money by invests in america, and then — you should be able to get rich investing. if i bet on your company or somebody else’s company and i’m right, of course i should get paid for that. i want to reward people for being good at investing, warren buffett, et cetera, but these guys are getting rich by doing absolutely none of that. they have created a legislative modification that allows them to do things that don’t invest in america that pays them money, but doesn’t create any value.

>> ironically it turns out the best investment in america is politicians. you buy the politicians, you fix the game, not just against the taxpayers, but against your own shareholders, and they say, they ta all the money. we have to fix it.

>> you and i together, along with the rest of the folks out there, the separation of state and business.

>> absolutely.

>> as dangerous as church and state.