Podcast appearances and mentions of Jon Corzine

On this episode of the SeventySix Capital Sports Leadership Show, Wayne Kimmel interviewed Bill Pascrell III, Special Advisor to our portfolio company IC360. As Special Advisor, Pascrell will focus on policy development, strategic guidance, and strengthening IC360's position as the trusted authority in gaming compliance and integrity solutions. Pascrell is a Partner at Princton Public Affairs Group, Inc, the nation's largest state based public, regulatory and government affairs firm. He is a lawyer, strategic advisor, and consultant in the gaming sector through dozens of clients throughout the globe from the U.S., Canada, United Kingdom, Israel, Europe, South America, and Australia. He is recognized as one of the nation's top experts on internet gaming, lottery, horse racing, poker, esports, and sports betting, and continues to advise governments across the globe on issues involving the gaming industry. Pascrell serves on the Board of the Etain Foundation US, since its creation in 2019, with a focus on safer betting and gaming, grassroots sports, diversity in technology and projects with a clear link to the communities in which Entain operates. The Foundation has invested in dozens of projects to support its mission of integrity, compliance and responsible gaming. These programs include the creation and launch of the Seton Hall University Law School Boot Camp on Compliance, Integrity and Responsible gaming; a research partnership with UNLV creating initiatives to apply best practices in responsible gambling, policy and health; and alliances with NCAA and Professional Leagues to educate players about responsible gaming to name just a few. This work has earned he Enatoin Foundation US and Bill Pascrell, III many global responsible gaming honors and wards from organizations like SBC, GDC, EGR, and VIXIO. Pascrell led the successful 10-year campaign to legalize sports betting in the United States, culminating with the repeal of the Professional and Amateur Sports Protection Act (PASPA) by the U.S. Supreme Court and has worked in every state that has legalized sports betting since the repeal of PASPA in 2018. Pascrell also quarterbacked a successful campaign to pass the first-in-the-nation Online Gaming Act in New Jersey in 2013 and helped develop the regulatory regime that implemented the legislation. He has work in all 7 states that have legalized online gaming and continues his advocacy to further expand online gaming to other interested states. He has also been a pioneer in passing first in the nation legislation on Lottery Courier, Esports Wagering and Fixed Odds-Horse Racing. Public service and governance have been a cornerstone of Pascrell's career. He has served as Counsel to New Jersey Governor James Florio (1989-1992), Chief of Staff to US Congressman Herb Klein(1992-1994), and Passaic County Counsel from 1998 to 2019, advising on critical governance matters through multiple terms. Nationally, Pascrell has been a trusted political advisor to prominent leaders, including Presidents Bill Clinton, Barack Obama and Joe Biden, U.S. Senator and Democratic Presidential nominees U.S. Senator John Kerry and Secretary of State Hillary Clinton, U.S. Senator Jon Corzine, U.S. Senator Frank Lautenberg, and Governors James E. McGreevey, Richard Codey and Phil Murphy. A graduate of Rutgers University, Pascrell earned his law degree from Seton Hall University School of Law and has completed executive programs at Harvard University's Kennedy School of Government. His blend of academic excellence and practical leadership has earned him recognition as one of the most influential figures in public administration and governance. Bill Pascrell III: LinkedIn: https://www.linkedin.com/in/billpascrell/ Instagram: https://www.instagram.com/pascrell3rd/ X: https://x.com/BillPascrell3rd

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.0:00 RFK Jr USDA Overhaul5:17 MF Global Anniversary9:04 Rains are Back11:45 Ethanol Production is STRONG12:59 China, Russia, Soybeans13:48 Biofuel Money14:34 Flash Sales

Julie Roginsky is a founding partner of Baro Strategies and has nearly three decades of public and private sector experience as an adviser on strategic communications, political strategy and public relations…working on behalf of corporate and political clients which include Fortune 500 companies, start-ups, non-profits and dozens of elected officials including governors, United States senators, members of the House of Representatives and state legislators. Earlier in her career, she served as the communications director for Senator Jon Corzine. Julie is also the co-founder of Lift Our Voices, a national non-profit organization dedicated to transforming the American workplace by banning forced arbitration clauses and non-disclosure agreements (NDAs) for toxic workplace issues. The organization has been credited with helping to pass sweeping bans on NDAs across the nation and with the passage of the federal Ending Forced Arbitration for Sexual Assault and Sexual Harassment Act and the Speak Out Act, which have been called the strongest labor law change in the last 100 years. She's a former contributor at Fox News Channel, where she was a frequent co-host of Outnumbered and The Five. Prior to that, she was a contributor at CNBC, the financial news network. Julie and I discuss the critical work of Lift Our voices; Donald Trump and Trumpism; and Kamala Harris, the campaign and the huge stakes for America in the upcoming November election. Got somethin' to say?! Email us at BackroomAndy@gmail.com Leave us a message: 845-307-7446 Twitter: @AndyOstroy Produced by Andy Ostroy, Matty Rosenberg, and Jennifer Hammoud @ Radio Free Rhiniecliff Design by Cricket Lengyel

Former New Jersey Governor Jon Corzine shares his insights on the rise of populism in politics and opens up about what he would have done differently during his tenure as governor. --- Send in a voice message: https://podcasters.spotify.com/pod/show/eagleton-institute/message

Omeed Malik (@RealOmeedMalik), founder and CEO of Farvahar Partners, a boutique merchant bank and broker/dealer which invests partner capital into growth businesses and acts as a liquidity provider of private placements on behalf of companies and institutional investors, joins Julia La Roche on episode 71 to share what he sees as an emerging parallel economy in the U.S. that's in stark contrast to ESG. Omeed is the chairman and CEO of a SPAC called Colombier Acquisition Corp. that is taking PublicSq., a marketplace for “pro-America business and consumers,” public later this year. He also started a fund called 1789 Capital to provide “venture and growth capital to companies building the next era of American prosperity.”  Prior to starting his own firm, Omeed was a Managing Director and the Global Head of the Hedge Fund Advisory Business at Bank of America Merrill Lynch. Omeed was also the founder and head of the Emerging Manager Program within the Global Equities business. In this capacity, Omeed was charged with selecting both established and new hedge funds for the firm to partner with and oversaw the allocation of financing/prime brokerage, capital strategy, business consulting and talent introduction resources. Before joining Bank of America Merrill Lynch, Omeed was a Senior Vice President at MF Global, where he helped reorganize the firm's distribution platform globally and developed execution and clearing relationships with institutional clients. An experienced financial services professional and securities attorney, Omeed was a corporate lawyer at Weil, Gotshal & Manges LLP working on transactional matters in the capital markets, corporate governance, private equity and bankruptcy fields. Omeed has also worked in the United States Senate and House of Representatives. Omeed received a JD, with Honors, from Emory Law School (where he serves on the Advisory Board) and a BA in Philosophy and Political Science, Cum Laude, from Colgate University. He holds Series 7, 63, 3, 79, and 24 registrations.  Omeed is a Term Member of the Council on Foreign Relations, a Centennial Society Member of the Economic Club of New York and a Chairman's Circle Member of the Milken Institute. Omeed is a Contributing Editor and minority owner of The Daily Caller. 0:00 Intro 2:06 Welcoming Omeed Malik 2:50 From D.C. to corporate law to Wall Street 3:30 Started as a speechwriter in D.C.  4:11 Working for Jon Corzine at MF Global 5:12 Launching Farvahar in 2018, advising founders 5:38 New opportunity in a new economy called the “patriot economy”  6:33 D.C. is a place where you get a lot of power, but not money 7:20 The country has changed 8:05 No longer identifying as a Democrat 8:33 2016 election of Trump 9:12 Rise of China  11:33 Leaving the Democratic Party  14:15 Tulsi Gabbard  16:22 China is the most significant geopolitical threat in my lifetime  20:16 ‘Red America' is a huge TAM  21:02 ESG is a marketing scam  23:00 ESG backlash  26:20 Opportunity for a parallel economy focused on ‘EIG' (Entrepreneurship, Innovation, Growth) 28:30 A $7T opportunity  33:00 A bifurcated economy  34:30 Taking PublicSq. public via SPAC 35:00 Bud Light Dylan Mulvaney backlash led to spike in search for alternative beer 36:30 Scratching the surface of the opportunity  38:40 Changes on a personal level 40:00 TikTok a ‘Trojan Horse' in a modern-day Opium War  41:00 Evisceration of the middle class 42:00 Ceding liberty when you work for a large corporation  44:41 Need to reevaluate the relationship between the U.S. and China  51:27 Optimistic for the future of the U.S. 53:00 Big Tech's “Devil's bargain”  55:00 Impact on relationships 

This week, Inside the Hive cohost Joe Hagan talks to Lis Smith, Democratic campaign veteran and author of the new memoir Any Given Tuesday: A Political Love Story, which details her journey, the public one and the private one, through Democratic campaigns over the past 17 years, for candidates as varied as Jon Corzine, Barack Obama, Pete Buttigieg, and, most infamously, former governor Andrew Cuomo, whose lurid political demise she details down to the last moments of his time in office. A savvy political operator, Smith trains her sights on stubborn problems like Florida governor Ron DeSantis, and what to do about President Joe Biden, who, despite his abysmal poll numbers, she says is preparing to come out swinging in advance of the midterms.    “If the [midterms] are a referendum on Democrats, we will be screwed in November,” says Smith, but if Biden and his surrogates can effectively target Trump-tainted election deniers and antiabortion Republicans, “that's a terrain we can win on. And that's a switch that we need to flip—we need to flip that switch pretty soon. And we have the opportunity to now.”   Smith, who helped take Buttigieg's star to the national level, is now working with Michigan state senator Mallory McMorrow, who went viral with a searing counterattack on anti-LGBTQ+ Republicans. Smith puts McMorrow on a short list of candidates, along with Kansas City mayor Quinton Lucas, to form the future of the party. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Emma Muhleman and Boris Ryvkin join us for this Week Ahead episode, with Albert Marko. We talk about FTX and why it happened. FTX transferred about $8 billion of customer deposits to a trading arm called Alameda, and they lost it. FTX was assumed to be a regulated institution. It wasn't. So the customer deposits evaporated.There was a desperate attempt to merge with Binance. That didn't happen.FTX filed Chapter 11 on Friday, and then Sam Bankman-Fried apologized as if that just absolves him and makes everything better. Albert helps us understand what happened here and what it means not just for Sam, but for markets.We also saw some selling in crude markets as FTX collapsed. Emma talks us through that and tells us how long the crypto unwinds will impact commodity markets.Boris talks us through the CPI print because it seems the rate of rise of CPI slowed, and it feels like it overrode the FTX worries and there was this huge cyber relief in markets for the past couple of days that we've conquered inflation. And the Feds only going to raise by 50 in December, and then after that, we have some 25s.Key themes:1. Why the FTX happened?2. Crude & Crypto Correlation?3. CPI Print: Inflation Solved!4. What's up for the Week Ahead?Learn more about CI Futures, a machine-learning markets forecasting platform. Follow The Week Ahead panel on Twitter:Tony: https://twitter.com/TonyNashNerdAlbert: https://twitter.com/amlivemonEmma: https://twitter.com/EmmaCFA1Boris: https://twitter.com/BRyvkinWatch this episode on Youtube: https://youtu.be/2WuxxoDpYo4Time Stamp:0:00 Start1:50 Why FTX happened? What does it mean for markets?4:21 Jon Corzine and Sam of FTX?5:59 What do these all mean for crypto in general?7:50 Are there other crypto players that will most likely fail like FTX?14:04 Crude and crypto correlation18:22 CPI print: is inflation conquered?24:26 Yellen-Fed factor and layoffs28:06 Will there be a regulatory relief for energy?30:48 Is there pressure to have Russia-Ukraine peace?38:49 What's for the week ahead?

Julie Roginsky has one of the most unique stories in politics…as a 6-year old, she and her family flee their homeland in the Soviet Union to make their way to the Bronx…she's drawn to campaigns and spends 20+ years in the trenches in New Jersey politics…she enters the world of cable news, working for 10 years as a Democratic voice on Fox News…ultimately leaving Fox after suing the network and chief Roger Ailes for sexual harassment…and starts Lift Our Voices with former Fox News colleague Gretchen Carlson to eliminate NDAs and other silencing mechanism that protect harassment in the workplace. This is a wide-ranging conversation that covers Julie's fascinating life, time in campaign politics, and the important work she's doing now.IN THIS EPISODE…The story behind Julie and her parents escaping their native USSR…Early memories of a 6-year old Soviet refugee growing up in NYC…Julie campaigns for a presidential candidate as an 11-year old…Julie changes her professional sights from foreign service to political campaigns…Julie's brief excursion working for the UK Labour Party in London…Julie's first New Jersey race and her NJ Politics 101 after 20+ years in state politics…Julie mines her years as a communications expert to offer some comms best practices…The story behind Julie's years as a political commentator on Fox News…Julie addresses her departure from Fox News & the sexual harassment she filed against  Fox News and Roger Ailes…Julie starts Lift Our Voices with Gretchen Carlson to eliminate workplace NDAs that protect workplace harassment…Julie on the changing advice she gives to young people working in politics…Julie's advice on how campaigns can protect proprietary information while not enabling a toxic workplace...AND…the 6 Train, Madeline Albright, Bombshell, George W. Bush, CNBC, Mary Beth Cahill, Gretchen Carlson, Chris Christie, Jon Corzine, Crayola, the deficit, distant cousins, economic sclerosis, EMILYs List, the Food Network, glasnost, Bernie Goetz, Mikhail Gorbachev, gulags, heroin alley, the Hotel Greystone, internecine primaries, the Iron Curtain, the Iron Sheik, JFK airport, Jersey girls, Jeane Kirkpatrick, Lenin, John Major, Walter Mondale, Rupert Murdoch, Northampton County, Frank Pallone, Perkins Coie, Zelda Perkins, Ronald Reagan, refuseniks, Condoleezza Rice, Susan Rice, Rutgers University, self-censorship, Yakov Smirnoff, Stalin, the Statue of Liberty, The Tea Party, Margaret Thatcher, Donald Trump, the WWF, Harvey Weinstein, Christine Todd Whitman & more!

This week, Inside the Hive cohost Joe Hagan talks to Lis Smith, Democratic campaign veteran and author of the new memoir Any Given Tuesday: A Political Love Story, which details her journey, the public one and the private one, through Democratic campaigns over the past 17 years, for candidates as varied as Jon Corzine, Barack Obama, Pete Buttigieg, and, most infamously, former governor Andrew Cuomo, whose lurid political demise she details down to the last moments of his time in office. A savvy political operator, Smith trains her sights on stubborn problems like Florida governor Ron DeSantis, and what to do about President Joe Biden, who, despite his abysmal poll numbers, she says is preparing to come out swinging in advance of the midterms.    “If the [midterms] are a referendum on Democrats, we will be screwed in November,” says Smith, but if Biden and his surrogates can effectively target Trump-tainted election deniers and antiabortion Republicans, “that's a terrain we can win on. And that's a switch that we need to flip—we need to flip that switch pretty soon. And we have the opportunity to now.”   Smith, who helped take Buttigieg's star to the national level, is now working with Michigan state senator Mallory McMorrow, who went viral with a searing counterattack on anti-LGBTQ+ Republicans. Smith puts McMorrow on a short list of candidates, along with Kansas City mayor Quinton Lucas, to form the future of the party. Listen to Joe's record: "Earl's Closet: The Lost Archive of Earl McGrath, 1970-1980." Learn more about your ad choices. Visit podcastchoices.com/adchoices

Lis Smith is an operative's operative...with nearly 20 years of races under her belt of wins and losses and lessons learned along the way. Her new book ANY GIVEN TUESDAY is now out about her career in politics, while also finding herself in the headlines from time to time...including a deep dive into the unlikely ascent of Pete Buttigieg's 2020 Presidential Campaign. This is a really fun conversation with one of the most dynamic thinkers in today's politics. IN THIS EPISODEThe moment Lis fell in love with politics…The common threads of the candidates Lis wants to work with…What makes Claire McCaskill a talented communicator…Lis's take on how Democrats should navigate Fox News…Lis's early campaign stint seeing old-school politics in Kentucky…Lis defines “strategic cuss words”…Lis squares off against Chris Christie in his first race…Lis breaks down her role running Rapid Response for the 2012 Obama Re-election…The political importance of “parasocial relationships”?Why an operative has to be willing to disagree with their client…Why some personally charismatic candidates have trouble communicating publicly…Lis's very first impressions of Pete Buttigieg…Memorable responses when people heard Lis was working for the Buttigieg Presidential…The common thread between John McCain's 2000 presidential and Buttigieg 2020…The origin of what came to be known as the Pete Buttigieg "uniform"…Lis's favorite memory from the Pete 2020 experience…Lessons Lis learned in her stint working for Andrew Cuomo…Her approach to building and nurturing talented teams and operatives…Lis's advice on underappreciated Guns N' Roses songs…AND David Axelrod, bangers, the bee's knees, Paul Begala, Richard Ben Cramer, Chuck Berry, Blueberry Hill, Jerry Brown, George Bush, can-do mayors, Tucker Carlson, Hillary Clinton, Coal Miner's Daughter, Jon Corzine, Stephanie Cutter, Tom Daschle, defense contractors, Diet Dr. Pepper, John Edwards, Albert Einstein, evil twins, Greek tragedies, Sean Hannity, Kamala Harris, Eric Holder, ill-fitting suits, Laura Ingraham, it factors, Bob Kerrey, John Kerry, Ben LaBolt, Chris Maher, Terry McAuliffe, Mallory McMorrow, mill towns, Tim Miller, Martin O'Malley, John Mulaney, normal person language, Michelle Obama, Jen O'Malley Dillon, pantsuits, the Pete Diaspora, Prince Charming, the Prince of Darkness, Jen Psaki, rage juice, Red Bull, Kid Rock, Mitt Romney, Axl Rose, Bernie Sanders, Mike Schmuhl, sequin shirts, Nina Smith, Julianna Smoot, George Stephanopoulos, the Straight Talk Express, Ted Strickland, summer doldrums, Greg Stumbo, TJ Maxx, Donald Trump, Twitter, visual brands, the War Room, water coolers, Glen Youngkin…& more!

This episode is the 2nd part of my series on the history, current status, and possible future of racial profiling. It covers the history of racial profiling from the mid 1990s to the late 2000s. In this episode, you'll learn: how local and state police departments, U.S. Customs, taxi services, and TSA were all engulfed in various controversies over the issue, with the New Jersey State Police ending up in the eye of the storm of a time; how the drug war and civil asset forfeiture made the problem harder to address; discussions over racial profiling in the 2000 Presidential Election; the surprising reason a Weekly Standard columnist criticized Rudy Giuliani on race issues; how the End Racial Profiling Act gained and then lost momentum right before and after 9/11; and attempts to address the issue in a post-9/11 world. You'll learn about dogged foes of racial profiling such as John Lewis, Amo Houghton, Jeffrey Goldberg, Randall Kennedy, Danny Glover, Larry King, Robert Francis, Frank Lautenberg, Jon Corzine, Russ Feingold, Laura Murphy, and then-state legislator Barack Obama. You'll learn about the villains of the conflict such as Christine Todd Whitman, Strom Thurmond, Alan Keyes, George F. Will, Heather MacDonald, National Review, and the Weekly Standard's William Tucker. And you'll learn about the people like George W. Bush and former NYPD and U.S. Customs Commissioner Ray Kelly whose views and legacy on racial profiling are tough to suss out. You'll learn about cops who defended racial profiling, such as Steve Young, Gary McLhinney, and Bernard Parks. And you'll learn about cops who stood against racial profiling, such as James Fyfe, Aaron Campbell, and (despite his flaws) Eric Adams.

This week, Carson and Freddy are joined by the real power behind the operation at Muddy Waters. Krista DeLuca joins the set to detail how she came about to meet Carson, and his clever nature that has led to some incredible gift giving. With his newfound celebrity status, Freddy gives us his plan for post-hedge fund life. Carson issues a challenge to his Twitter trolls, while Freddy gives another trip down memory lane to reveal his misguided belief that he's the greatest marketer in the world. Carson climbs the mountain to ask Elon Musk a question, and the team marvels as David Tepper's flex on Jon Corzine. Will Krista jump ship to reap the benefits of Chase Coleman's gardener? Tune in to find out! Find out more by visiting the home of short-selling: www.zer0es.tv

Joe Connolly and Neil A. Carousso speak with Jane Oates, president of WorkingNation - a non-profit that raises awareness about the challenges facing the workforce. Jane served as Assistant Secretary for Employment and Training Administration in the U.S. Labor Department from 2009-2013 and was executive director of the New Jersey Commission on Higher Education and Senior Advisor to ex-Gov. Jon Corzine from 2006-2009. See omnystudio.com/listener for privacy information.

THE PETE SANTILLI SHOWEpisode #1616 - Monday - September 02, 2019 - 6PMLive Broadcast Link -  https://youtu.be/Hh7-f043hw4   GOP REP ISSUES OMINOUS PREDICTION ABOUT FISA ABUSE REPORT- 1616-6P Republican Judiciary Committee member Rep. Andy Biggs (Ariz.) predicted Sunday an investigation probing potential abuses Foreign Intelligence Surveillance Act will end with indictments. “I anticipate that we’re gonna see some very stark revelations of manipulation of the whole system for political purposes,” Biggs said on Fox News. “When you see that happen, that’s when I think you’re going to see references or referrals for indictments, and I think you’re actually gonna see some indictments.” Guest Patti Stockman: In April of 2018, a Houston jury convicted  former Congressman Steve Stockman of 23 felonies, including fraud, and what prosecutors called "a white-collar crime spree." He was sentenced to 10 years in prison. His wife Patti is my guest today and she is here to set the record straight . Patti Stockman has been married to former Congressman Steve Stockman for 30 years and worked alongside him in all his political campaigns.  She is an activist in her own right, and has her own career, having worked for NASA for 35 years this Fall.  Since shortly before Steve's trial, she has basically worked two full-time jobs - her paying job, and her diverse efforts on behalf of her husband and his case. The government spent millions of taxpayer dollars and over four years tracking every movement Stockman made going back to the late ‘80’s. They went around the world, flew in witnesses from across the country, and hired a small army of investigators to pick apart his life before they even had an idea of potential charges. All this to gin up charges leading to 283 years in prison for alleged mismanagement of less than a million dollars in donations. By contrast Obama friend Jon Corzine lost $1.2 billion of shareholder money, but was never even charged. . https://defendapatriot.com/  E-Militia Article: Republican lawmaker makes ominous prediction about IG Horowitz’s FISA abuse report http://ow.ly/1r8G30psNQt

Subscribe to our channel for important financial market updates now! http://bit.ly/2t1HKOj Time To Invest In Learning About Cryptos Like many other silver investors, I continue to believe that at some point we will see an explosion in price that will simply leave most market watchers stunned. Perhaps something even similar to what we've witnessed in the crypto space this year. However the downside to silver is that it continues to be manipulated. So while a great case can be made that at some point it will almost have to trade significantly higher, nobody knows exactly when that will happen. Whereas on the other hand, the cryptos have already begun trading in a pattern that one would expect of gold and silver in an environment where the paper fiat.... For the rest of this article go to: http://arcadiaeconomics.com/bitcoin/time-invest-learning-cryptos/ - Kay Khemani - Spectre Interview - https://www.youtube.com/watch?time_continue=1&v=jupl3bZTOGE - For more help understanding the markets or to talk with Chris visit: http://arcadiaeconomics.com/ - Subscribe to Arcadia Economics Youtube Channel: http://bit.ly/2t1HKOjSubscribe to Arcadia Economics on Soundwise

In this episode we discuss Jon Corzine’s return to Wall Street, what he did last time he was there, and why Ann closed her commodities brokerage in the first place (spoiler: there’s a near-complete lack of the rule of law in the financial industry). Also, we discuss Donald Trump’s visit to Saudi Arabia and the collective buildup of the largest islamic naval fleet since the 1570s, and respond to a listener’s question of whether there will be transcripts of the podcast at some point. And the list of required reading, as mentioned in this episode: https://mobile.nytimes.com/2017/05/18/business/dealbook/jon-corzine-wall-street-comeback.html http://www.barnhardt.biz/the-one-about/the-one-about-my-shutting-down-my-brokerage-letter/ http://www.barnhardt.biz/2015/07/16/jesus-christ-economist-with-handy-visual-aids-and-a-video-appendix/ http://www.barnhardt.biz/2013/01/12/more-economic-theory-expanding-the-money-supply/ http://www.barnhardt.biz/2013/11/05/the-one-about-how-we-are-the-gold/ http://www.barnhardt.biz/the-one-about-sharia-finance-blankies-and-axe-body-spray/ http://www.barnhardt.biz/2015/01/08/cut-the-crap-the-problem-is-islam-and-it-has-to-be-exterminated-period/ http://www.thedrive.com/the-war-zone/10466/saudi-arabias-naval-capabilities-will-balloon-thanks-to-us-arms-deal Feedback: You can email Ann and her co-host at podcast@barnhardt.biz with your questions, comments, historical observations, etc. Subscribe: You can subscribe for free to the podcast through any of the podcast links and services below:

Jason Burack of Wall St for Main St and managing editor of The News Doctors and independent financial journalist, Eric Dubin are back for Episode #31 of Welcome to Dystopia. To start the show, Jason and Eric discus whether gold and silver have bottomed? Eric talks about how the currency markets are affecting gold and silver prices and Jason talks about how the President of Turkey is calling FOREX speculators "terrorists" http://www.zerohedge.com/news/2017-01... Jason and Eric then talk about capital controls in China, Bitcoin and how there's now a tug of war between the elite's version of globalism that only benefits people in the West with some cheap goods and economic nationalism post Brexit, Donald Trump and Italian referendum. Jason and Eric also discuss what could go wrong with Trump raising tariffs on China. There's some good laughs in this episode! Scumbag Nominees: 1) Former Goldman Sachs CEO, NJ Governor, & Scumbag Hall of Fame Member, Jon Corzine https://en.wikipedia.org/wiki/Jon_Cor... who was able to gamble with $1.6 billion in customer money at his firm MF Global in 2011 when he bankrupted the company and escape with only a $5 million civil fine! http://www.reuters.com/article/us-mfg... 2) Joe Biden for winning a Presidential Medal of Freedom today- WTF did he do to deserve it??? 3) Fiat Chrysler for lying/cheating on pollution tests with the EPA http://www.zerohedge.com/news/2017-01...

Securities litigation attorney John Lawrence Allen helps recover investor funds lost through investment fraud or incompetence. John is a former Los Angeles Deputy District Attorney and author of “Make Wall Street Pay You Back.” Jason Hartman and John Lawrence Allen talk about Wall Street dirty tricks plays and how average people can protect themselves from Wall Street. Allen also gives some tips for investors before they invest a large sum of money with an advisor or hedge fund. He also shares how financial advisors can mitigate their risk of fraud. Key Takeaways: (2:20) John Lawrence Allen: background and history of latest book (3:06) How Wall Street and the investment landscape have changed over the last 20 years (4:06) On the arbitration process (7:34) On the laws not being in favor of the consumer (11:13) Causes of action: fraud, incompetence, etc. (16:00) The extraordinarily high commissions on life insurance sales (18:11) How does the investor know what fees are being assessed by financial advisors? (21:08) The length of the FINRA arbitration process (21:55) On “simplified arbitration” for small claims (23:58) Discussion of other types of fraud, beyond incompetence and excessive commission (29:20) Discussion of a managed future deal Jason was pitched on (32:30) Some tips on buying gold: always invest in bullion, never numismatic coins (37:12) Who claims are usually made against (38:42) Jon Corzine, MF Global, & the Insider’s Game (43:19) Bad monetary policy forces people to take inappropriate risks Websites: www.MakeWallStreetPayYouBack.com Make Wall Street Pay You Back on Amazon www.myinvestorfraud.com

Introduction: John Lawrence Allen is a securities litigation attorney helping investors recover funds lost through investment fraud or incompetence. He's a former Los Angeles Deputy District Attorney and author of the new book, “Make Wall Street Pay You Back.”  Allen talks about the dirty tricks Wall Street plays and how average people can protect themselves from Wall Street. Allen also gives some tips for investors before they invest a large sum of money with an advisor or hedge fund. He also shares how financial advisors can mitigate their risk of fraud.   Key Takeaways & Time Stamps: (2:20) John Lawrence Allen: background and history of latest book (3:06) How Wall Street and the investment landscape have changed over the last 20 years (4:06) On the arbitration process (7:34) On the laws not being in favor of the consumer (11:34) A brief message from Bill Clinton (12:13) Causes of action: fraud, incompetence, etc. (17:00) The extraordinarily high commissions on life insurance sales (19:11) How does the investor know what fees are being assessed by financial advisors? (22:08) The length of the FINRA arbitration process (22:55) On “simplified arbitration” for small claims (24:58) Discussion of other types of fraud, beyond incompetence and excessive commission (30:20) Discussion of a managed future deal Jason was pitched on (33:30) Some tips on buying gold: always invest in bullion, never numismatic coins (38:12) Who claims are usually made against (39:42) Jon Corzine, MF Global, & the Insider's Game (44:19) Bad monetary policy forces people to take inappropriate risks (45:03) Closing statements   Links: www.MakeWallStreetPayYouBack.com. www.Amazon.com to purchase the book: Make Wall Street Pay You Back Find out more about John Lawrence Allen at www.myinvestorfraud.com.   Bio: Former Los Angeles Deputy District Attorney John Lawrence Allen represents investors nationwide in securities arbitration. Mr. Allen spent seven years working for two major Wall Street firms and was chief investment officer for two hedge funds. Mr. Allen pens a blog on impactful subjects that affect all of us and is a respected legal expert who provides insightful commentary on national TV, radio and print.   Audio Transcription: ANNOUNCER: Welcome to Creating Wealth with Jason Hartman!  During this program Jason is going to tell you some really exciting things that you probably haven't thought of before, and a new slant on investing: fresh new approaches to America's best investment that will enable you to create more wealth and happiness than you ever thought possible.  Jason is a genuine, self-made multi-millionaire who not only talks the talk, but walks the walk.  He's been a successful investor for 20 years and currently owns properties in 11 states and 17 cities.  This program will help you follow in Jason's footsteps on the road to financial freedom.  You really can do it!  And now, here's your host, Jason Hartman, with the complete solution for real estate investors.   JASON HARTMAN: Welcome to the Creating Wealth Show.  This is your host, Jason Hartman, and thank you so much for joining me today.  We'll be back with today's guest or segment, in just a moment.   [MUSIC]   JASON HARTMAN: It's my pleasure to welcome John Lawrence Allen to the show!  He is a securities litigation attorney, helping investors recover funds lost through investment fraud or incompetence.  He's a former Los Angeles Deputy District Attorney, and the author of a new book, entitled, Make Wall Street Pay You Back.  And of course you know over the years I've said with some degree of sarcasm, that Wall Street is the modern version of organized crime, and my Commandment #3 for successful investing is, maintain control, because when you don't maintain control, you leave yourself susceptible to three major problems.  Number one, and we're gonna address that during the interview with John today, you might be investing with a crook.  Number two, you might be investing with an idiot.  And so we'll address those two.  And number three, even if they're honest, even if they're competent, they take a huge management fee off the top for managing the deal.  So, we'll kind of dive into this.  John, welcome.  How are you?   JOHN LAWRENCE ALLEN: I'm good.  How are you today?   JASON HARTMAN: Good, good.  Well, it's great to have you.  And just to give our listeners a sense of geography, where are you located?   JOHN LAWRENCE ALLEN: My office is in White Plains, New York.  I used to have an office in California and midtown Manhattan, and I've now moved out to the Connecticut countryside to work in White Plains.   John Lawrence Allen: background and history of latest book   JASON HARTMAN: Fantastic.  Well, tell us about your background, and how you came to write the book.   JOHN LAWRENCE ALLEN: Well, I wrote my first book, Investor Beware, 20 years ago.  And that was—actually, more than 20 years, I guess it's been now.  Almost 25 years ago.  And that was the result of having been in the industry.  I spent 7 years on Wall Street, and I invented an arbitraged [unintelligible] program.  That's how I went into Wall Street.  And I got very, very dissatisfied with the [unintelligible], and the outright unethical activity I saw around me.  And it got so bad that I quit, and I wrote my first book, Investor Beware, to help people protect themselves from the way Wall Street operates.  But over the last 20 years, the entire investment landscape has radically, radically changed.  And the entire way brokers do business has changed.  And if investors aren't aware of these changes, they may very well end up becoming victims of the Wall Street community.   How Wall Street and the investment landscape have changed over the last 20 years   JASON HARTMAN: You know, when you say those changes, I don't know what you're referring to, so I'll have you tell me.  but is one of them—one way that I think large corporations really oppress people, is through the commercial arbitration act.  And I know so many years ago in the 90s, when there was a lot of securities fraud in the news—of course, that seems to be an ongoing issue, of course.  And, you know, a lot of people have lost money in the stock market.  They made some new rules—I don't know, you know, exactly which agency that came out of.  Maybe it was the FCC, or FINRA, I didn't mean to say FCC, did I say that?  The SEC, the Scoundrels Encouragement Commission, as it's been called.  But it is—is that arbitration?  Because arbitration, really I think takes away people's rights quite a bit.   On the arbitration process   JOHN LAWRENCE ALLEN: Well, that's an interesting—there's two sides to that coin.  Yes, they take away people's rights.  And people don't know it, but if you have a problem with a broker dealer—that's, you know, any licensed firm that buys and sells securities for you—if you have a problem with the representative who works at a broker dealer, when you sign your contract with them, you waive your right to a court trial or jury trial.  That means, you don't get to be in front of a group of your peers, you don't get to have any of the help that you would get in a court room, or in a civil or jury trial.  That's the negative side.  But there's a positive side to it.  The positive side is, you're gonna go into arbitration, which is significantly less expensive, significantly less time-consuming, and far swifter justice than you could ever get in a court.  Let's say you win a court case, and what's gonna happen?  Well, the arbitration—not the arbitration.  Securities firm is going to appeal that matter, and you're gonna get stuck in court for another couple of years.  On the other hand, if you go to FINRA—Financial Industry Regulatory Authority arbitration—you're gonna be in front in a case of $100,000 or more, three arbitration judges, who are gonna rule very quickly, and you're gonna have a result very quickly.  And if you win, they have to pay within 30 days.  You don't have any of the problems of collecting, or appeal, or the lengthy process that's involved in the court proceeding.  And there's one more positive, I find, in arbitration.  That is, if you get into a complex securities case, there are complex issues and facts that the average juror really can't grasp that well.  But these arbitrators are usually business people, and they have a business background, and they understand wrongdoing when they see it, and they're not afraid to make an award.  The one thing that is difficult is to try to get punitive damages.  That's very difficult arbitration.  I've attained it more than once, I've gotten it, but it's a difficult road to go, to try to get punitive damages.  And lastly, you don't have to get bogged down in a motion practice where a wealthy brokerage company with an unlimited pocket can paper you to death with motions and motions to compel and sanctions and hearings and depositions and request remissions and all the discovery stuff that goes on.  None of that's allowed in arbitration.   JASON HARTMAN: I mean, I've been in arbitrations.  They have depositions though.   JOHN LAWRENCE ALLEN: Not in federal arbitration.  For securities cases.  Yes, in civil arbitration, but if you go into a FINRA arbitration, there are no depositions, there are no request remissions, there are no interrogatories.  You can do a document request, but it's very limited, which means that you're gonna save a great amount of time and a great amount of expense, and a great amount of heartache.  So, all in all, oddly enough I actually—when I started, I didn't like, or I perceived not to like, the arbitration process.  But now that I've done it for so many years, I think that it's a good methodology to get swift justice.   JASON HARTMAN: Okay.  Well, I don't want to belabor that one, because it'll take away from sort of the crux of our discussion, but it's good to hear your point of view on that.  So, the thing you were saying, in terms of the laws not being in favor of the consumer, in this case the investor, is no jury trial, and what was the other one?   On the laws not being in favor of the consumer   JOHN LAWRENCE ALLEN: No court trial.  No judge—   JASON HARTMAN: Okay, no court trial at all.  So, arbitration.  But, were there any other things you wanted to mention there, before I got you on this tangent of arbitration?   JOHN LAWRENCE ALLEN: Well, I just—I think that the cost effectiveness is so overwhelmingly in the—you know what it does?  It puts you on an even footing with someone who has an unlimited budget, which you can't do in litigation unless you're willing to spend the money to ante up.  But in arbitration, you're on an equal footing with your opponent.  And if you have a competent, skilled, highly qualified and knowledgeable attorney who knows the ins and outs of FINRA arbitration, you've got a long way towards getting your money back.   JASON HARTMAN: So, that may be different—and again, I don't want to belabor this arbitration point too much, because there's other issues, of course.  But, it sounds like it's better, with a FINRA situation, for people that have been defrauded, just lost money because of incompetence on Wall Street.  But in a typical arbitration, those arbitrators—I think, I'm pretty sure, they really lean toward the person who put the arbitration clause into the contract, because they view them as repeat customers, and we'll call it part of the vast Wall—the vast arbitration conspiracy.  It blows my mind that AAA, the American Arbitration Association, is actually a nonprofit organization.  The fees are enormous.  And we all pay taxes to have a public court system.  And listen, I'm no fan of prolonged litigation, or litigation at all, but gosh, why do you have to pay for a private court, which in the typical arbitration, probably not FINRA, with what you explained, acts, in my opinion, as a bit of a kangaroo court—especially the fact that these things are confidential.  And you get these real estate developers that develop these condo properties and so forth, and you know, they all put arbitration clauses in their contracts.  And you can't do a litigation search on them before you, say, buy a property, to see if they're a bad apple, if they've been sued by hundreds of investors!  It's all hidden from public view.  And that just makes me think of a Third World, Banana Republic country where they've got these kangaroo courts, and you know, our whole system is based on transparency.  At least that was the original idea of it.  So, that's my bone to pick with arbitration.   JOHN LAWRENCE ALLEN: Well, you raise a good point.  And I would tend to agree with you.  Up until a couple years ago, arbitration had two panel members that were public, and one who actually came from the industry, and it was in many cases biased in favor of the arbitration people, meaning the broker dealers.  And I think the statistics, not from me personally, but the statistics generally bear out your concerns.  People don't do all that well in arbitration.  They win about half their cases, and of the cases they win, they win about half the money they got back.  So, I don't put that as good odds.  That's not been my experience, but I am very selective in the cases I take, and I put in a great deal of time to win these cases.  I understand that you're not gonna get money from three business people unless you can find a way to emotionally connect your client with them.  if you can't find a way for them to care about your client, they're not gonna give you anything back.  But if you can find a way to develop the cast to find an emotional connection—something that touches them, they're gonna be far more willing to knock the arbitration—when I say, to go after the broker dealer for fraud.   JASON HARTMAN: Let me take a brief pause; we'll be back in just a minute.   A brief message from Bill Clinton   BILL CLINTON: Hi.  This is Bill Clinton, and I want to invite you to hang out with my friend, Jason Hartman, in my hometown of Little Rock.  Jason and his interns, you know I like interns, are having his famous Creating Wealth Seminar and Property Tour here!  So drop everything, including Hillary, and go register at www.jasonhartman.com, right now.  This event is coming up soon, but, as I like to say, it depends on what the meaning of the word ‘is' is.  See ya there.   [MUSIC]   Causes of action: fraud, incompetence, etc.   JASON HARTMAN: Let's talk about what are some of the causes of action.  I mean, of course fraud is one of them.  But you also mentioned incompetence, and when someone has a securities claim, whom is the claim directed at?  You know, you've got the advisor who works at Merrill Lynch, which in my opinion, or whatever firm, I'm just saying Merrill Lynch because they're big.  But they can work at any firm; Ameriprise, Merrill Lynch, whatever, okay, and I tend to find those advisors are usually just slick salespeople who wear nice suits, okay?  Nothing more than salespeople.  They have cursory knowledge.  Very little real depth of knowledge, usually.  Of course I'm making a generalization here, and I apologize to those smart, great, ethical good brokers out there, because there are some.  But you've got the broker, you've got the investment banker, you've got the firm.  Who are you really—you've got the company.  There are so many layers to this.   JOHN LAWRENCE ALLEN: Well, let's talk about that for a second.  People don't know that you can hold a brokerage firm and its registered representative—that's the stock broker who provides you with a recommendation—for giving bad advice.  People think, well, that doesn't sound right!  If he gave me bad advice?  I mean, if I get advice, and the stock doesn't do what he thought, how can he be responsible?  And the corollary, or the answer to that, is this.  Under the FINRA guidelines, and the Securities and Exchange Commission guidelines, brokers are required to know your risk tolerance, time horizon, financial goals, and anything that can affect your capacity to invest.  That means if you're employed, unemployed, medical problems, but mostly, what they have to do is they have to match the correct product with your goals, objectives, risk tolerance, and time horizon, so that they make a recommendation that's suitable for you.  So, if you're 35, and have a good job, and you want to take some risk with having 70, 60, 75% of your money in the stock market, probably not bad.  The opposite of that is, what if you're 65 or 70, and you're retired, and living on your retirement assets, it would not be appropriate for a broker to recommend that you buy a highly speculative stock, or that you have 70 or 80% of your investments in equities, and stocks!   JASON HARTMAN: They seem like they do a pretty—I mean, I'm sure there are brokers out there that do that kind of stuff, but it seems like they do a pretty good job of making all the appropriate disclaimers, and you gotta sign a mountain of paperwork that of course is all written in their favor, and has a zillion disclaimers, and a lot of legalese—I mean, don't they pretty much cover themselves on that type of stuff usually?   JOHN LAWRENCE ALLEN: The paperwork covers them perfectly fine.  But that doesn't relieve them from their obligation.  A broker that makes a recommendation to a customer has a fiduciary duty to that customer to put the customer ahead of the broker.  So, let's say I have a client who wants to make an investment of a couple hundred thousand dollars, and I want to put them in what quote is a suitable investment, based on what they've told me about themselves.  Unless they put it in a suitable investment, I can make, let's say, $200,000 investment, maybe I can make $100, $150 in fees.  However, if I put them in something that the brokerage company is promoting, or pays a double commission, or is highly speculative, I might be able to charge them significantly more.  Let's say $1000.  So, if I can make $1000 on a improper or unsuitable investment, and $100 or $200 on one that's suitable, that puts in kind of a trap for the broker to say to themselves well you know, I'm really gonna forgo that extra 800 bucks I'm gonna make on this transaction and do what's right for my client.  How many people have the ethical and moral heart to do that?   The extraordinarily high commissions on life insurance sales   JASON HARTMAN: Not a lot of people, certainly on Wall Street.  Not a lot.  And you know, when you say that, it reminds me of two investments that are really just laden with heavy commissions, from what I understand.  One of them is oil and gas, and another is life insurance.  The fact that life insurance is even kind of promoted as an investment bugs me in some ways, although the needle might be moving a little bit, for me, on that.  But still, I just think it's insurance.  You know?  But those—I mean, some of these things have extraordinarily high commissions.  I mean, I'll give you an example of one.  One time a life insurance guy came into my office, and he wanted to market his life insurance products as an investment to my investors in my real estate firm.  And he slapped down literally a copy of some checks that he earned on some policies that he sold.  And one of them was like a $7 million life insurance policy.  And I'm not gonna get this exactly right, because I don't remember, but the check was for like $250,000.  I mean, it was insane, how—he says, look, I could split this with you.  I'm like, well don't I have to have a license or something?  And he says, well, there's a way around that.  We'll reclassify the fee.  And obviously I didn't do any deal with him, but I mean, some of these commissions on these things are just extraordinary.  On these oil and gas deals?  I hear that some of them are like half of the investment amount!  You know, if they get an investor to put $100,000 into some oil and gas deal, the salesmen will make 50 grand!  Whoa!  That's crazy!   JOHN LAWRENCE ALLEN: Yep.  That's true.  And in fact, if you want to go back a little bit further in time, there was a period in the late 80s and middle 90s where Prudential [unintelligible], which, you know, the rock solid, sold 400,000 of its customers $8 billion in phony partnership deals.  And those deals, they were making 30, 35, and 40% off the top before the customer saw a single dime.   JASON HARTMAN: Unbelievable.  That's just—that's just crazy.  So, is—so, okay.  So, the broker, or the investment advisor, with a registered rep—I don't know exactly what to call them—but, they steer the investor into something that's not as good for them, that obviously pays them a higher fee.  Right?  So, that's one form of—that's one actionable thing.  Now, how is the investor ever going to find that out though?  How does the investor know what the menu of fees is for the things that that advisor has to steer them into, available to them?   How does the investor know what fees are being assessed by financial advisors?   JOHN LAWRENCE ALLEN: Well, that's a very tough question.  And that's a very good question.  And the reason is because on a lot of these products that they're selling a product, the commission's in the product, and the customer will never know.  So, on that $200,000 example, if the broker makes $5000, you know, a 2½% fee, and that's in the cost of the $200,000, that means that really 195 of your money actually ever went into the investment.  And there's no way you can know, unless you read the prospectus, or you ask the broker.  They're certainly not gonna volunteer and tell you, oh yeah I'm gonna make 5 grand on this break.  And also, that also happens on principle transactions.  If you ever buy a stock or a bond, most bonds are sold on principle transactions.   JASON HARTMAN: What is a principle transaction?  What does that mean?   JOHN LAWRENCE ALLEN: A principle transaction is where there's no commission charge.  The fee is in the price of the bond.   JASON HARTMAN: Alright.   JOHN LAWRENCE ALLEN: So, as an example, if I call up my broker and say, you know, I want to get a 10-year bond, and let's say you can get a 10-year bond for 2.3% return per year over the 10 years.  So, you buy the bond with this 2.3%.  You don't know what the brokerage firm picked that up for.  Let's say they picked it up for 2%, and they charge you 2.3.  That difference in that spread is an enormous markup.  It could be many thousands of dollars.  So you just don't know in a principle transaction, and that's another way brokerage companies can—in fact, I've gotta case right now, I have a lady who had a very, very, very substantial portfolio, many millions of dollars, and she was charged over $3 million in markups and fees on bond transactions, and she never knew it, over the course of a 6-year period.   JASON HARTMAN: Wow.  Wow.  So, $3 million in fees and markups on what—   JOHN LAWRENCE ALLEN: On municipal bond transactions.  The safest most conservative of all transactions.   JASON HARTMAN: Right.  Yeah, right.  And I'll tell you something.  If you ask me, a lot more municipalities are gonna be filing bankruptcy in the future, because there are so many of them underwater.  Of course we've seen that with Detroit, Vallejo, California, some others.  But very interesting.  So, $3 million in fees—that is unbelievable!  What was the principle investment though?  I've gotta have some comparison.   JOHN LAWRENCE ALLEN: She had $30 million in municipal bonds.   JASON HARTMAN: So, 10%.   JOHN LAWRENCE ALLEN: In a laddered portfolio that never should have been touched, that had never been—not that—there should not have been any transactions, and in 6 years they traded $120 million with the bonds in her portfolio.   JASON HARTMAN: Unbelievable.  That's just insane.  So, she's in process, right?  Did you recover for her yet?   JOHN LAWRENCE ALLEN: We're in the arbitration process now.   JASON HARTMAN: How long does that take, when it's a FINRA arbitration?  What's the length of that process?   The length of the FINRA arbitration process   JOHN LAWRENCE ALLEN: Somewhere between 11 and 14 months, on average.   JASON HARTMAN: Okay, alright.  And, what is the amount of money—I mean, obviously that's a large client with some big money you're talking about, in terms of the investment size, and the investment losses.  But, how much does someone need to lose in order to make going to a FINRA arbitration worth it?   JOHN LAWRENCE ALLEN: Well, that's a good question.  I would answer that in twofold.  First of all, anybody that wants to seek help should only hire an attorney that would be willing to work on a contingent fee so they don't end up spending a lot of money trying to get back their losses.  That's item one.  Two, there are different levels of arbitration.  FINRA, within the last year and a half, has established a new type of arbitration called small claims.  They call it simplified arbitration.   On “simplified arbitration” for small claims   JASON HARTMAN: Oh, that's great.  Like small claims court kind of idea.   JOHN LAWRENCE ALLEN: Kind of, but a little different.  And that would—for FINRA, small claim is any loss below $50,000.  And if you have a loss below $50,000, you don't—and you go into this simplified arbitration, you don't even have to appear at a hearing.  You submit the entire claim, on paperwork; the respondents, the broker dealer, file an answer, and one arbitrator makes a ruling without you ever having to appear.  So it saves you testimony, litigation cost, travel expense, hearing fees, expert testimony.  It's all done in the pleas.  Now, you don't have to do it that way.  If the case is $50,000 or smaller, you have a one party, one arbitration chairperson, that's it.  You don't have a panel of three.  You have a panel of three above $100,000.  So really, I would say anybody that loses $10,000 or more, even $5000 or more, it's certainly worth it to pursue it.  I don't think you'd probably get many attorneys to handle a $5000 case.  But I've developed a methodology to help people with cases between $10 and $50,000, which is on my website, and I take them into the small claims arbitration process, and the whole thing can be done for very, very little money, and the best part is, unlike regular arbitration, small claims are usually resolved in 7 months or less.   JASON HARTMAN: Excellent.  So give out your website if you would.  That's a great resource, thank you.   JOHN LAWRENCE ALLEN: Well, my website is the same as my book; the book is Make Wall Street Pay You Back, and the website iswww.MakeWallStreetPayYouBack.com.   JASON HARTMAN: www.MakeWallStreetPayYouBack.com.  And you've got the small claims information on there, which is fantastic.  But then also, for larger losses, they can hire you, or another attorney?   JOHN LAWRENCE ALLEN: Correct.   Discussion of other types of fraud, beyond incompetence and excessive commission   JASON HARTMAN: Okay, good.  So, talk to us more about some of the other types of fraud out there.  there's incompetence, there's, I guess I'll call it steering to the product that pays the highest commission.  What else is there?   JOHN LAWRENCE ALLEN: Well, beyond the suitability issues, which are very numerous, and that expands a lot of things that brokers might do.  They might put you in—there's an example, as I said before, if you're 70 years of age, you probably shouldn't be in a 75% stock portfolio.  On the other hand, if you're 75 and they put you on 100% in one investment, and over-concentrate you, that's not correct, that's not suitable either.  So, it really doesn't matter what age you are.  if a brokerage company takes all your money and puts it in one investment, that's clearly unsuitable, because if that investment goes down—even Apple, as an example.  People do fabulous in Apple, but Apple also had, about six months ago, a 300-point drawdown.  And if you had all your money in Apple, you're hurting!  So, that's another thing they do.  Also churning.  Churning is where a broker makes excessive buys and sells in your account, without an interest in making you profits, the broker's interest is in getting as many commissions as they can from your account.  And what's interesting is in a churning case, you could actually—I've had cases in churning where the client never knew the account was churned, because they didn't lose any money!  The account was churned for a couple years, they ended up—you know, the stock market was up 30% over a two-year period and their account was flat.  They couldn't understand why.  And when I dived into it, I found out, well, it was flat because $200,000 in commissions were paid over that period, and if you hadn't had the $200,000 in commissions, you would have been up 200 grand, and you would have been up pretty much where the stock market was.  So, if a broker exercises control over the account, and buys and sells excessively to generate commissions, they churn your account, and that's actionable.   JASON HARTMAN: So, in other words, you don't have to have actually lost money in the aggregate.  You could still have an investment.  Your portfolio could still be up.  But just because of the malfeasance of the brokerage firm, or the individual broker, you could have lost money through churning—now, the churning thing, is that as big as a deal anymore?  Because it seems like the industry has moved to a model of managed money, where all they're really doing is, you give them $100,000, and they're charging you, you know, 2% a year, or whatever the number is.  And you're not really paying for trades.  But, one of the scams is, a lot of times, you're paying in multiple layers!  So, you'll give the guy sitting at Merrill Lynch your $100,000, and he'll say, well, I'm gonna charge you 2% a year, or whatever the number is, and so, he doesn't make money on churning per se, but then what he does is he goes and he puts your money into a bunch of other funds like mutual funds where they're making money inside that fund too, because of all these management fees.  I mean, that's just, wow.   JOHN LAWRENCE ALLEN: Well, you're absolutely correct.  And that is—and that's one of the things I had to cite in the book.  The methodology on Wall Street has shifted from a commission-driven business to an asset-gathering business.  So, the churning claims are down dramatically.  They're not out.  And the reason they're not out is because there are products called managed futures.  And most of these managed future products really don't exist to have the customer make money.  They exist for the broker dealer to reap huge commissions from buying and selling at a high velocity commodities.  And, what's interesting about these managed futures, is most of them have a program in which, let's say you give somebody 50 grand.  And let's say they have a hot hand and their managed commodity accounts have doubled, and you go up from 50 to 100,000.  The prudent thing to do would be to pull your 50 out and play with their money.  But that's not what they do.  What they do is, if you go to $100,000, they merely double the amount of contracts they're trading, so they can generate double the commissions.  So, if you had a $50,000 account, and you were doing, let's say, five contracts in a trade, and you now have $100,000 account, they double that, they go to 10 contracts.  Let's say you make an incredible profit, you go to $200,000. Your 50 has grown to 200.  Well, you're now gonna go from 5 to 20 contracts.  Which means that even the smallest move, after those enormous profits, will wipe out all your gains in a very short time.  Classic example of that is long term capital, which made 30, 35, 40% a year for three years, and then in six weeks, wiped out not only all of the gains, but the $4.5 billion that was still there.  Totally wiped it out when the commodity markets went the wrong way.   Discussion of a managed future deal Jason was pitched on   JASON HARTMAN: Wow, unbelievable.  Hey, can I run something by you that I was pitched on?  I actually had the guy on one of my shows, and it sounded pretty good…it's a managed future deal, and I just wanted to see what you thought of it.   JOHN LAWRENCE ALLEN: Sure.   JASON HARTMAN: I didn't do this investment; at least not yet.  But, the guy was pretty convincing, I have to tell you.  And so, he works in Chicago, and you know, is on the floor of the exchange there, and the big pitch is that Japan, which most of us know is massively in debt, the whole country is just in a mess.  I mean, the US is too, but the US has the reserve currency, and you know, some different circumstances, obviously.  And the pitch is that Japan will default on their debt, and what you should do is over a 5-year plan, with a $30,000 minimum investment, let me buy options on this debt, that it'll default.  Let me short the Japanese debt.  It's just saying, it's gonna default at some point.  And there will be what's called option decay.  Now, granted, I don't have a big understanding of this.  I'm just a consumer.  But there's something called option decay, and as the option decays, what he's basically doing is over the course of five years, using $500,000 per month of your $30,000.  I think—I don't know the math on that.  Yeah, 60 months.  500 a month.  To pay for option decay.  But at some point in that 5 years, there's gonna be a default, and you're gonna win, you're gonna make money.  That's the prediction.  Of course it's a prediction.  What do you think of that?   JOHN LAWRENCE ALLEN: Well, that's a long-term bet, and I guess the thing I'd be most concerned about would be, do they have the—I presume this is not an exchange-traded fund?  If it doesn't trade at any known stock exchange or commodity exchange, you have to worry about the counterparty risk of the person, should they do what they claim it's gonna do, are they gonna be able to pay you?  And a lot of these counterparty risk cases that have come up during the 08, 09 crisis when a lot of off-market contracts were traded, and they couldn't make good when the unlikely event occurred, like AIG, which was betting on collateralized debt obligations, they said, oh, no country's ever gonna go into bankruptcy.  No, we're not really gonna have to worry about that.  And lo and behold, Greece goes into bankruptcy, and AIG almost went under!  Took us close to a trillion dollars to bail out AIG, which I think was a big mistake.  But there was a counterparty who couldn't pay!   JASON HARTMAN: Maybe the concept is a winner.  Maybe it actually works.  But then the counterparty just defaults, and they can't pay you.   JOHN LAWRENCE ALLEN: Yeah, that's why I try to stick with anything that's exchange listed.  So then at least I know they're going through a well known New York stock exchange, the COMEX, the NASDAQ, and there's some third party who's trying to make sure that they're gonna honor their margin requirements.   Some tips on buying gold: always invest in bullion, never numismatic coins   JASON HARTMAN: Good.  Okay, good point, good point.  Okay, what else should people know?  Do you want to talk about any other types of investments?  I mean, maybe you want to mention just quickly maybe gold?  I know that that's not a huge market, but we touched on oil and gas.  If, you know, you want to mention any other alternatives.   JOHN LAWRENCE ALLEN: Well, I think for gold, my suggestion would be, anybody who wants to invest in gold, I don't have a problem with them investing in gold.  I do have a problem in how they do it.  I don't think anybody who wants to own gold should ever use leverage, options, or margin.  They should only buy it for cash.  They should take delivery, they shouldn't allow any third party to store their gold, and they should only buy gold from a reputable dealer who's been in business over 10 years, and then finally, only gold bullion, not numismatic coins which are supposed to have great asset value.  And when I say bullion, I mean a Canadian maple leaf, an American gold eagle, you know, a South African Kruger rand, an Austrian krone, some well known gold bullion that's difficult to make in a, what I would call a forged or dishonest way.   JASON HARTMAN: Right, right.  A lot—the scams and the numismatic market are rampant, and every gold dealer, when you call them up, you know, a lot of times they're advertising on the radio, and they're promoting the concept of gold or silver or platinum or palladium, and they're talking about bullion.  But when you call them, they try to up sell you to numismatic coins, because they're just much higher margins.   JOHN LAWRENCE ALLEN: Tremendous, tremendous margins.  You're talking sometimes 30, 40% margin on a numismatic coin.   JASON HARTMAN: Right.  But you know, that's not a security necessarily.  I mean, are you talking about—see, I think the only way someone should invest in gold, or precious metals, is in the way where you actually take possession of it.   JOHN LAWRENCE ALLEN: I agree.   JASON HARTMAN: You're talking about inside of a fund, right?  I mean, you're not talking about—I mean, there's—there are frauds where people actually take possession, and they find out the metal is fake.  But I don't think that's super common, probably.   JOHN LAWRENCE ALLEN: Those are very, very rare.  And those are usually not government-sponsored products like American eagles or maple leaves from Canada.  And, they're usually sold by disreputable dealers.  But if you buy gold from a reputable dealer and have it shipped to your home, put in a safety deposit box, or bury it somewhere, that's the safe way.  You don't want to have them tell you, oh, we'll store it for you.  No, you want your gold, if you're gonna buy gold.   JASON HARTMAN: I agree with you.  The point of that types of investing is to be in possession of it.  absolutely.  And I just can't believe the people that go for these deals where they say, oh, they're gonna store them in a vault in Switzerland.  Yeah, right.   JOHN LAWRENCE ALLEN: And another thing now—another section of my book, Make Wall Street Pay You Back, is, as you said very early on, we're no longer a commission-driven business; we're a management business, where they grab their assets and send them out to management.  That adds a layer of protection to the broker dealer and the registered representative, the stockbroker.  However, that doesn't stop them from still having to make a suitable recommendation to this manager.  So, when you go to a broker dealer and you give them your assets, and they agree to manage them, and they're not gonna charge you a commission, they're gonna charge you a percentage of the assets you have under management, you need to be sure that whatever manager they hire, that that manager is—and the manager style—is in keeping with your goals, objectives, risk tolerance, and time horizon.  You don't want to go into an all equity small cap microcap fund, if you're trying to invest in what is supposed to be on the stock investing side, a more conservative portfolio.  And also, you want to be sure that the style of that manager doesn't involve, unless you're willing to take that risk—you know, I'm not saying risk is bad.  You just need to know about it, make an informed consent about it, and be willing to accept it.  But you need to be sure that that style of that manager is in keeping with your risk assessment.  Because, if you don't want to take a lot of risk, then you can't have options, derivatives, or futures, or leverage, employed by that manager.  So you need to know the style, and the type of investments, and where they're gonna make those investments.   Who claims are usually made against   JASON HARTMAN: Toward the beginning of the show I talked to you about all the different layers of this onion, and how, who are you really—who is your claim against?  We've talked about registered reps, brokerage firms.  What about the other people in the food chain?  And then, all the way up to the actual company, whose stock you own.  In the board of directors, and the CEO, and the CFO, and the CTO—all of these guys are just skimming off the top.  I mean, the Dennis Kozlowskis of the world, and all the rest of them.  I mean, there's a lot of fraud going on at that level too, where, you know, the brokerage firm could be okay, the rep could be okay, but the actual company whose stock you own, do you go after them too?   JOHN LAWRENCE ALLEN: Well, I try to make a rule not to go after anybody who has a questionable pocketbook to recover from.  Generally—   JASON HARTMAN: Oh, right.   JOHN LAWRENCE ALLEN: Generally, when there is a corporate crime, or a corporate fraud, most of the time, not always, most of the time, there aren't assets sufficient to recover for the shareholders.   JASON HARTMAN: Because they've sucked it all out of the company, and the company's basically an empty shell.   JOHN LAWRENCE ALLEN: Exactly.  Madoff, or Enron, or Delphi, you know, if we were to go back a few years to all of the security problems going on.  But interestingly enough, if you do it at a grand enough scale, you get to walk away scot-free and you don't even go to prison.   JASON HARTMAN: It's unbelievable.  Yeah.   Jon Corzine, MF Global, & the Insider's Game   JOHN LAWRENCE ALLEN: A perfect example is Corzine, who was the governor of New Jersey—   JASON HARTMAN: MF Global.   JOHN LAWRENCE ALLEN: And Jon Corzine.  And he was a huge donator to the Democratic Party, and a big supporter of Obama, and he took over a company, MF Global.  And they were just a plain bread and butter vanilla commodity broker.  They bought and sold commodities, they made, you know, a few pennies off of the buying and selling of these commodities.  Well, he didn't think that was enough money.  So he went and made a multi-billion dollar—I think 3.6, to be exact—billion dollar bet on the debt of other countries and companies.  And that bet went awry.  Very badly awry.  And Corzine went in, and he claims he did not do this.  He claims he didn't know.  But under his supervision as the chairman of the company, they invaded the assets of their own clients, and stole $1.3 billion of assets from their clients to cover their bad bet.   JASON HARTMAN: And that's Jon Corzine, and $1.3 billion, that's billion with a ‘b.'  Not million—billion, okay?  Huge.   JOHN LAWRENCE ALLEN: Correct.  Took it out of their clients' accounts.  They got caught, they had to return what money they could find, he paid a fine, and he walked away without going to jail for committing absolute grand larceny on a monster scale.   JASON HARTMAN: Un-fricking-believable.  I mean, this is so disgusting.  It's just—it's just disgusting!  And it's amazing to me, like, one of the things I tell my listeners is, don't trust resumes.  Ken Lay, with Enron—he was buddies with George Bush, okay?  I'm sure the pictures were all over the company for people to see when they came in.  Bernie Madoff was president of NASDAQ.  Jon Corzine was governor of New Jersey!  I mean, your resume doesn't get much better than any of those, right?   JOHN LAWRENCE ALLEN: Oh, absolutely.  And let's add to the list Mr. Mozilo, who was the chairman of Countrywide, who got bought out by B of A, and he was one of the large perpetrators of the entire mortgage debacle, and people lost billions, maybe even trillions, and he walked away scot-free and he, he had his “friends of Mozilo,” who got mortgage—well, I should put it this way.  Members of Congress and the Senate, who got special mortgages from Countrywide at highly reduced rates, because they were friends of Mozilo.  And he walked away scot-free.   JASON HARTMAN: It's just a total insider's game.  That old question, you know, when the broker takes his buddy down to show his buddy his new yacht, and his friend says, where are all the clients' yachts?  You know?  It's an in—that's what people have to understand.  Wall Street is an insider's game.  And the insiders are the ones who get rich, because the insiders have all the connections, and they basically make the laws.  Because they have lobbyists, they have lawyers, they have PR firms, they have accounting firms, and the game is just so stacked against the investor, I don't know why the general public is still playing in this field.  They're totally outgunned!  And then you look at Michael Lewis and his great new book, Flash Boys, which I'm sure you're familiar with—I mean, are these—Goldman Sachs—are they just a totally criminal organization too?  Probably.  I don't know.  It sure seems like it.  It's just unbelievable.  I mean, in Flash Boys, which I highly recommend, Michael Lewis talks—he just profiles all of these companies that are like, getting in line to do this high frequency trading, where the speed of light is not even fast enough anymore, at 186,000 miles per second, and all the people profiting from all of this stuff in the food chain, it's beyond despicable.  It's totally rigged.   JOHN LAWRENCE ALLEN: It's very difficult.  It's a hard game to play.  But, the other side of the coin is, with the Fed maintaining these totally illusionary, 0% interest rates—   JASON HARTMAN: What else can you do?   JOHN LAWRENCE ALLEN: Everybody's having a hard time trying to make ends meet, and they're forced, almost, to go into the stock market.   Bad monetary policy forces people to take inappropriate risks   JASON HARTMAN: Yeah, they're forced to do—see, this is—bad monetary policy like we have, forces people to take inappropriate risk!  Because they can't get any yield in their bank account.  And it's so sad to see the people that are older and have really done the right thing all their lives.  You know, they saved money, they planned for the future, they delayed gratification, and now they got a few bucks.  It's sitting in a bank account, being destroyed by taxes and inflation, especially inflation, which, you know, is higher than what the government would have us believe, and they just can't get any yield.  So, they go in, and they play with the stock market, and, you know what happens.  I mean, that's your business.   JOHN LAWRENCE ALLEN: Yes.   JASON HARTMAN: Yeah.  It really—   JOHN LAWRENCE ALLEN: Sad but true.   Closing statements   JASON HARTMAN: Yeah.  It really is sad.  Well, this has been a fascinating discussion.  A lot of people tell lawyer jokes, but I'm glad there are lawyers out there who really help people get some justice.  And one of them is you, so, thank you for doing that.  And give out your website again.  Of course the book is onwww.Amazon.com.  I definitely encourage people to read it: Make Wall Street Pay You Back.  The website is the same name, right?   JOHN LAWRENCE ALLEN: Yeah.  www.MakeWallStreetPayYouBack.com.  There's also a section in the book about arbitration, what it's like, what you have to know, what it's like to go through one, so people won't feel so nervous about going through the process, and realizing that they have rights, they ought to stick up for their rights, and not be afraid to pursue even Merrill Lynch or Morgan Stanley or Goldman Sachs.   JASON HARTMAN: Good.  Good stuff.  Well John Lawrence Allen, thank you so much for joining us today.  This has been very informative.   JOHN LAWRENCE ALLEN: Thank you very much, Jason, and I appreciate the time.   [MUSIC]   ANNOUNCER (FEMALE): I've never really thought of Jason as subversive, but I just found that's what Wall Street considers him to be!   ANNOUNCER (MALE): Really?  How is that possible at all?   ANNOUNCER (FEMALE): Simple.  Wall Street believes that real estate investors are dangerous to their schemes, because the dirty truth about income property is that it actually works in real life.   ANNOUNCER (MALE): I know!  I mean, how many people do you know, not including insiders, who created wealth with stocks, bonds, and mutual funds?  Those options are for people who only want to pretend they're getting ahead.   ANNOUNCER (FEMALE): Stocks, and other non-direct traded assets, are losing game for most people.  The typical scenario is: you make a little, you lose a little, and spin your wheels for decades.   ANNOUNCER (MALE): That's because the corporate crooks running the stock and bond investing game will always see to it that they win!  Which means, unless you're one of them, you will not win.   ANNOUNCER (FEMALE): And, unluckily for Wall Street, Jason has a unique ability to make the everyday person understand investing the way it should be.  He shows them a world where anything less than a 26% annual return is disappointing.   ANNOUNCER (MALE): Yep, and that's why Jason offers a one book set on creating wealth that comes with 20 digital download audios.  He shows us how we can be excited about these scary times, and exploit the incredible opportunities this present economy has afforded us.   ANNOUNCER (FEMALE): We can pick local markets, untouched by the economic downturn, exploit packaged commodities investing, and achieve exceptional returns safely and securely.   ANNOUNCER (MALE): I like how he teaches you to protect the equity in your home before it disappears, and how to outsource your debt obligations to the government.   ANNOUNCER (FEMALE): And this set of advanced strategies for wealth creation is being offered for only $197.   ANNOUNCER (MALE): To get your creating wealth encyclopedia, book one, complete with over 20 hours of audio, go to www.jasonhartman.com/store.   ANNOUNCER (FEMALE): If you want to be able to sit back and collect checks every month, just like a banker, Jason's creating wealth encyclopedia series is for you.   [MUSIC]   ANNOUNCER: This show is produced by the Hartman Media Company.  All rights reserved.  For distribution or publication rights and media interviews, please visit www.HartmanMedia.com, or email media@hartmanmedia.com.  Nothing on this show should be considered specific personal or professional advice.  Please consult an appropriate tax, legal, real estate, or business professional for any individualized advice.  Opinions of guests are their own, and the host is acting on behalf of Platinum Properties Investor Network, Inc. exclusively.  

My guest today is Larry Doyle, a former JP Morgan banker. Larry embarked on his Wall Street career in 1983 as a mortgage-backed securities trader for The First Boston Corporation, and was involved in the growth and development of the secondary mortgage market from its near infancy. The topic is his book In Bed with Wall Street: How Bankers, Regulators and Politicians Conspire to Cripple Our Global Economy. In this episode of Trend Following Radio we discuss: Doyle's background and why he put “In Bed With Wall Street” together Madoff, and what was missed from a regulatory perspective KYC, or “knowing your customer” MF Global, Jon Corzine, and touching customer funds Dodd Frank and the supposed fixes to the 2008 financial crisis, and why Dodd Frank was more of an architectual blueprint rather than a completed piece of legislation Regulatory reforms to help fix the problems created in the 2008 financial crisis Informing the general public of the problems surrounding Wall Street today The “bribe” of equity markets at all-time highs; manipulation of the markets Why Tim Geithner said “we saved the economy, but we lost the country” If a crash is the only thing that will bring about change Why the banks must be broken up What would have happened if Goldman Sachs and Morgan Stanley had failed Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Today on the podcast Michael Covel interviews Larry Doyle. Doyle’s book is called “In Bed With Wall Street”. Doyle is a former JP Morgan banker gets into why the system is fragile despite being five or six years removed from the crisis. Covel and Doyle discuss Doyle’s background and why he put “In Bed With Wall Street” together; Madoff, and what was missed from a regulatory perspective; KYC, or “knowing your customer”; MF Global, Jon Corzine, and touching customer funds; Dodd Frank and the supposed fixes to the 2008 financial crisis, and why Dodd Frank was more of an architectual blueprint rather than a completed piece of legislation; regulatory reforms to help fix the problems created in the 2008 financial crisis; informing the general public of the problems surrounding Wall Street today; the “bribe” of equity markets at all-time highs; manipulation of the markets; why Tim Geithner said “we saved the economy, but we lost the country”; if a crash is the only thing that will bring about change; why the banks must be broken up; and what would have happened if Goldman Sachs and Morgan Stanley had failed. Want a free trend following DVD? Go to trendfollowing.com/win.

Nobel Laureate Dr. R. K. Pachauri, Chair of the Intergovernmental Panel on Climate Change, addresses the Governors' Climate Change Conference, hosted by Yale. This Conference reviews state-level programs to combat global climate change and to develop a strategy for future action. The gathering will also celebrate the centennial of President Theodore Roosevelt’s landmark 1908 Conference of Governors, which launched the modern conservation movement. Governors who plan to attend the conference include M. Jodi Rell of Connecticut, Arnold Schwarzenegger of California, Jon Corzine of New Jersey, and Kathleen Sebelius of Kansas. Quebec Premier Jean Charest will also be present.

nyu, wagner, event, social sciences, obama, 100 days,

On the day President Obama drew over 17,000 to a re-election rally for Jon Corzine, columnist Charlie Stile explains why the NJ governor is in political trouble.

Here's Episode 16. We start with some letters from the Listenership, then take a quick trip to the newswires, where we check on the medical accuracy and completeness of recent stories about Tony Snow's cancer diagnosis and Jon Corzine's car accident. Then, at long last, we arrive at the stated topic: questions you should ask your surgeon before having an operation, and things you can do in the hospital to be sure that you're getting all the treatment that you should.Of course, I'm not your doctor, and you should take my medical advice the way you take any advice from a complete stranger who won't tell you his name...For convenient reference, I'll put the main points here: 1. Be sure your attending is going to be in town while you're recovering, not heading to the airport from your operating room. 2. Is your attending surgeon going to see you every day while you're in the hospital? I used to take that for granted. No longer. 3. What's the patient to staff ratio going to be? If you're going to be in ICU, will you have 1:1 nursing, or at least 1:2 nursing? And what sort of physician coverage is going to be present at night and on the weekends? Will there always be a senior-level doctor in house, or are the interns sometimes left to their own devices? 4. How many cases like yours has your attending done - AS AN ATTENDING? 5. When you get to the hospital, ask about the following...and keep asking: a. Prophylaxis against Deep Venous Thrombosis (DVT) b. Peri-operative antibiotics c. Beta-blockers (not everybody needs them, but be sure your team is thinking about it)Hope this proves a useful reference. If you have things that you think should be added to this list, please, let us know!!