Political Payola!

Political Payola! www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Political payola. Payola, there's a term, you know. I kind
of learned about it when I first got involved in
doing radio. There used to be scandals back in the
day in radio where record companies would pay radio stations
or DJ's money to play certain music to get their

(00:38):
artists heard. Can't do that. Can't do that. And every
radio contract that I've signed throughout my career going back
to two thousand, had that little caveat about payola in
the contract. Can't accept any money for anything that you're
putting on there, but if you do, you have to
disclose it. Same thing holds true, right when when you're

(01:01):
putting out an ad on social media, whatever it may be,
you have to people have to know that it's a
sponsored I know they do it on websites now and
journalism they put sponsored content and it's often written in
you know, small print, but it's there. It's there. They're
aware that they're they're you know that they're wearing that

(01:25):
you know I I geeze I. Even the clothes that
you know anchors will wear enthusially it the credits, whatever
it may be. They'll say who you know, who the
clothing person is. And obviously they give the stuff away
for free. They got to let them know what's going
on anyway. One would think one would think that the
same thing would hold true with our electoral process. But no,

(01:52):
MSNBC said it was unaware of the Harris campaign paying
a half a million dollars to Al Sharpton, a half
a million dollars to Al Sharpton so she could sit
for that softball interview. Oh you couldn't make this up now,

(02:15):
quite frankly, should be fired instantly. Again. I had more
respect for Al Sharpton, quite frankly, back in the day
when he wore the vlure jumpsuit and was shaken down
Freddy's Fashion Mark in New York. Or he was trying
to pull off some sort of scam with the Tawana

(02:36):
Brawley thing. Okay, now, he tried to dresses himself up
like he's some sort of upstanding citizen. What a bunch
of bs he does stand all of the leases that
this guy has walked out on. He doesn't pay his
bills or anything, but they parade him on MSNBC like
he's some sort of civil rights leader. Give me a break.

(03:00):
And it's not just now, not just now. The celebrities Oprah, Oprah,
Oprah two point five million dollars, she got two point
five million dollars she got to do that little promotion
with Kamala Harris. She said, no, no, no, no, no.

(03:23):
I didn't get any money. My company did. Now again,
I'm sec regulated. If I was collecting money from let's
say Blackrock or it doesn't make any if it throw
any name out there. I don't care. Fidelity, Vanguard, and

(03:43):
I was collecting money for them to uh talk there
the wonders of their funds here on this podcast. And
I didn't disclose that I'm losing my license, I'm losing
my firm. That that's that's the reality. I can't do that,

(04:04):
nor should I be able to do that. And what
if I said, oh, no, no, no, it wasn't me.
I didn't take the money, my company did. Why Yeah,
that that's what they're saying. And again, some of the
dollar amounts are coming in and Lizo got paid a

(04:24):
million and Eminem got paid a million something all for
these appearance. Beyonce got paid. Look, I'm just throwing this
out there. Don't you think that the voter should know
that these celebrities are showing up and doing this and
getting paid to do it. I mean, it's it's nuts.

(04:51):
I mean, I mean, they cracked down on this. They
cracked down on this in the pharmaceutical industry, with all
the perks and whatnot that the pharmaceutical companies were giving
to doctors, you know back in the day, and the
parties they were throwing. I mean, I mean, all the
pharmaceutical reps go into doctors offices, they would get you know,
they'd go and hire sec cheerleaders and have them, you know,

(05:14):
basically banging on doors at doctor's offices. I mean, evil,
it's wrong, but we allow this to happen with our elections.
Pathetic and sad quite frankly. And again, boy did they
spend money, man oh man, was it good to be

(05:37):
a left wing celebrity closing up to Kamala Harris. They
spent it all and then some, And every day they're
finding that they're further and further into debt watchdog on
Wall street dot Com