Topic: Barings Bank

The new UK cabinet and Parliament feature an unusually high number of former bankers from institutions like Rothschild, Deutsche Bank, and Barings. The hosts argue that bankers are replacing lawyers as the dominant force in politics to exert direct control over the population's money. Notable appointments include Mark Garnier and Jacob Rees-Mogg.

Nick Leeson, the trader who collapsed Barings Bank, is compared to modern financiers who avoid jail time despite causing much larger losses. Michael Milken's history with junk bonds and his unusual 1993 partnership with Michael Jackson to form an educational television network is recalled. The discussion questions who will ultimately pay for the massive debt the U.S. owes the rest of the world.