November 15, 2025 • 39 mins
Chris Markowski, the Watchdog on Wall Street, discusses the current state of the financial world, focusing on the impact of long-term mortgages, the challenges young Americans face in home ownership, and the broader implications of government policies on capitalism. He critiques the existing economic system, highlighting the influence of special interests and the need for reform in executive compensation and housing policies. Markowski emphasizes the importance of financial literacy and the need for systemic change to ensure true economic freedom for all Americans.
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Episode Transcript
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Speaker 1 (00:07):
Well, no one authored investment banker, consumer advocate, analyst, trader
Chris Markowski is the watchdog Wall Street. Do you want
to answer exposing the lies and myths that the big
brokerage firms, the mainstream press, and the government are pushing
to keep Americans away from financial freedom.
Speaker 2 (00:27):
You can't handle the true proof.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 2 (00:34):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.
Speaker 1 (00:39):
This is the watchdog Wall Streets.
Speaker 2 (00:44):
So last Saturday, last Saturday, you know, at some point
in time, my wife just needs to take needs to
take my phone. I'll wait with broker just for the weekends,
I get a little bit of peace. Last Saturday we
were out friends too, and it's absolutely ruined my night.
(01:07):
Trump puts out a tweet, puts out a tweet of
great American presidents. And there's a picture, I kid you
not of FDR FDR and himself and under FDR it
says thirty year mortgage, and under Trump it said fifty
year mortgage. And when I first saw it, this is
(01:29):
part of the problem. I didn't think it was real.
This has gotta be some sort of hack. This is
can't be real. I don't believe this nonsense. You gotta
be kidding me. But then you know, a wheels start
turning to your head and I'm like, I gotta figure
if this is really you know, it was bothering me,
It was bothering me. I said, no way, I said,
first and foremost, you're gonna have a Republican president putting
(01:50):
himself up next to FDR and Great America. What anyway? Anyway,
it's true. And as it turned out, Ah Bill Pulte,
Bill Pulte, who should be should have been fired, fired,
fire brought that brought that chart. It was like a
(02:16):
five by eight board he brought in to see the
President at mar A Lago, and ten minutes later the
President ran with it. Now again, President seventy nine years old,
seventy nine years old, Listen, do I think he needs
a slow down? I do? I do this? You didn't
(02:39):
think about this? I mean, you're in the you've been
in the construction business. You've dealt with loans your your
entire life. You think it's a great idea for people
to take out a fifty year mortgage. You think that's
going to bring prices down. No, Bill Pulti's a he's
(03:01):
a house salesman, cause that's what he does. He builds homes.
He builds homes. Let me tell you what the situation
is with the homebuilders right now. Homebuilders, they're having a
difficult time right now moving their new homes. Oh, yes
they are. Yes, they're offering all sorts of incentives, so
they're actually lending you the money at lending the money
(03:23):
at below market rates four percent, five percent loan. They'll
lend it to you, all sorts of incentives so they
can get these houses off their books. Bill Pulte was
self dealing here. You put out a fifty year mortgage,
You think that's going to bring the price of homes down.
(03:45):
It's going to do the exact opposite, the same way
a thirty year mortgage keeps prices up. If you got
rid of a thirty year mortgage and they brought it
down to a fifteen year mortgage, what do you think
would happen. People's what people could afford over the course
of a month would go down. Therefore the price of
the homes would go down. Do you think any bank
would be writing these things if they couldn't sell them
(04:06):
to Fanny and Freddy, No way, no, how not to
mention in fact, the fifty year mortgage based upon time,
they probably have to charge seven and a half eight
percent for that loan. I was it was beside myself.
I really was, And you know from what I heard.
I you know from when I heard from my connects.
(04:29):
People inside the administration were none too happy with Bill Poulte.
This is the reality right now, and I've talked about
this here on the program. I'm honest with everybody here Again.
I want the president to do well. But guess what, Okay,
(04:50):
the economy is doing well for some people, doing well
for some people, it's not doing well for all people
in a large spot that those people are young people,
all right. Buying a home nineteen eighty five versus twenty
twenty five median household income in nineteen eighty five twenty
(05:13):
three thousand, six hundred and twenty dollars median household income
nineteen eighty five. Median price of a home in nineteen
eighty five eighty three thousand, two hundred dollars. Median household
income twenty twenty five is seventy four thousand, five hundred
and eighty dollars median home price, four hundred and sixty
(05:39):
eight thousand dollars median first time home buyer right now
forty years old. A lot of reasons for this, many
reasons for this. One of the reasons first and foremost
is we've allowed again. It's part of the problem we've
(06:01):
had in this country for some time. And you can
take this all the way, all the way back to
Nixon taking us off the gold standard. It's just the
reality of the situation. We've financialized everything here in this country.
Private equity firms, real estate investors, the blackstones of the world.
They bought one third of all single family residential properties
(06:24):
sold in the second quarter of twenty twenty five. They
bought twenty seven percent in the first quarter. Now we
explain to you how the scam works here on the
program you. Let's just I will always use an innocuous name.
We'll use X, y Z, XYZ. Private equity, whatever it
may be, buys up a whole housing track. And let's
(06:45):
say Fort Myers, Florida, will throw Fort Myers out there,
buy U up a new development out there. They go
to the builder builders selling the homes for five hundred
thousand dollars. They come in and say, we'll buy them all.
We'll buy them all. You say to us for four hundred,
they buy them all. Okay, Bill is like fine, pen
cash bam boom done, We're done. We unloaded all of
(07:07):
our inventory right there. Now, XYZ Investment Firm sits on
those properties after they bought them for a year for
a year. Then they sell three of those homes to
another fund that they also own, but they sell it
at seven hundred thousand. Crash bang poom pow. Wow, look
at that. We got comps. Oh, we got neighborhood comps.
(07:30):
Now we just saw just three homes down. These houses
are worth seven hundred thousand now because we just sold
three and you artificially, you self deal, you sell it
to yourself, You artificially pump up the value of these homes.
And guess what, it's perfectly damn legal, pathetic and sad,
pathetic and sad, and you need to have an ethical
bypassive birth to do that, because you're ripping off your
(07:52):
fellow Americans and you damn well know it. But it's
perfectly legal. Again, makes me sick to my stomach again,
Could we deal with this problem. No problem, no problem.
Ron Desantas is trying down here in Florida to do this.
You don't think that they can they can fix this problem.
You don't think that they can fix this in a
(08:13):
heartbeat in Washington, DC with tax laws. Absolutely, but they don't.
Why do you think that is? Well, you see the
young people out there looking for homes. They don't write
very big checks for campaign contributions, but the homebuilders do.
(08:34):
The Bill Poulties of the world do Bill Pulty, He's
doing it so much money for crying out loud, he's
in the administration. Think about that. He's working for the
He is a national homebuilder and he is working in
the administration. Why you don't think he's looking to help
himself for taking that job? Come on, man, Or what
(08:55):
about the real estate agents out there? What you think
you think they want prices to come down? No, no, no, no, no, no,
no no no. They don't want prices to come down.
That means they take a lower commission. They are major donors.
I was happy to see some good news, some light here.
I was happy to see something that I have been
(09:16):
pushing for here on the program for the past several years,
past several years, is to allow mortgages to be potable.
What does that mean? That means if you took out
a mortgage back and let's say during COVID two thousand
and you got it let's say two point seven percent,
and you want to move, you want to move, you
(09:39):
got a job offer somewhere else, or whatever it may be.
You want to downsize. You can actually have that mortgage
come with you or transfer it to the new home buyer. Now,
why won't we be allowed to do this forever? Because
we can. You can sell every other type of debt
instrument out there, whatever it may be, You could sell that.
(10:01):
Why can't you move your mortgage with you? It's a
debt instrument. Well, the big banks out there, you don't
think that they want to retire all of these low
interest loans that are out there. Of course they do.
Of course they do. And they're gonna say, oh, it's
just too difficult, it's not possible to make this happen.
They're full of crap. It's very easy to do. It
(10:25):
could totally be done, and it would free up a
lot of the reels that would help prices to come down.
Another thing again, Ron DeSantis. It was my first pick
for president. But anyway, Ron de Santas down here in
Florida is actually pushed for again only paying property taxes
(10:47):
owner occupied. That's right, whack these corporate buyers upside the head.
Make them pay owner occupied home. You're a resident or
whatever state it may be. Okay, cut those property taxes
down to nothing. Cut them down. You want another thing, mister,
watch Laura Wall watch me, watch me do my magic,
(11:08):
Mark Kowski's magic. I'm making prices come down everywhere. Okay,
real estate agent's gonna send a hit man out for me. Okay.
Federal floods. Why in the world can somebody with a
seven figure plus mansion on the water. Why are they
getting subsidized flood insurance on the taxpayers? That is welfare
(11:32):
for rich people. Cut that crap out. I don't want
real estate. Oh no, we can't do that. The price
is the home's gonna go down, and our commission's gonna
go down, and we're not gonna be able to take
pictures in front of homes. What champagne glasses. I mean, honestly,
it's a racket. It always has been. I don't care.
(11:53):
You know what I want though, I want the housing
market to correct. I want it to go down by third,
thirty percent, maybe go on forty. I don't care how
you think. I give a darn if my home value
drops by thirty forty percent, If your home value drops
by thirty to forty percent, let me ask you a question.
Does your kitchen shrink by thirty to forty percent? Does
(12:16):
your living room shrink by thirty to forty percent? No?
This is the problem, okay, is that you have been
told you've been sold a bill of goods, one of
the biggest bunch of bs ever. Ooh, your home is
a wonderful investment. O wonderful. No, it's a home. It's
a home. It's not an investment. And you get this,
(12:37):
this nefarious relationship between a lot of agents out there
and also the brokers out there as well. Oh, take
equity out of your home, cast out of your home,
and then go buy this and then go buy that. No, No,
it got out of control, out of control, this notion
(12:58):
out there, and this happened. The other things led to
this as well. You can go back to the Carter
years with the Community Reinvestment Act and then forcing bank
banks got to protect themselves too. Okay, politicians basically push
them in a direction. Up. You got to lend to
these people. You got I got stuff here, Andrew Cuomo
back in the day, you know, talking about all of
these funky mortgages that they're putting together during the Clinton
(13:20):
administration that help lead to the financial crisis. No, homes
should go up at the rate of inflation, no more,
no less in inflation, like Judy Sheltonson should be zero.
And that's what we should strive for. Very easy, very
easy to fix. But it's like dieting. Okay, simple nuddies,
(13:46):
I guess, Okay, not easy in the sense that you're
going to be fighting all these special interests. Things don't
get done here in this country because of the checks
that are cut by special interests. Simple as that. That
is the reason why prices are unaffordable, completely broken down
(14:06):
for you right there, jan and I told you how
to fix it. Do you think Bill Polte is gonna
do that? Ah? No, no, no, no. You know what
Bill Poulte did this last week. Okay, I've seen this
movie before. Think Fanny and Freddy just did away with them.
They dropped, they dropped the six hundred and twenty credit
(14:27):
score minimum. I kid you not, dude. We are back.
We're back. We're back. Oh, Morgan's Broke is gonna love us.
We're back to the days prior to the financial crisis.
Ninja loans, no income, no job, no assets. Hey, we
don't care. We'll put it on the taxpayers backs. Are
you kidding me? That's not gonna make prices come down
(14:51):
first and foremost. Okay, and I remember, I remember being
at the Republican National Convention. This is two thousand and four. Okay,
bush versus carry and bush it. They're handing out signs
ownership society, ownership society. They pushed this nonsense too. You
have Okay, let me make this perfectly clear. You don't
have a bloody right to own a home. You have
(15:14):
a bloody right to earn one. You don't have the
right to a home. You have the right to earn one.
And putting people into homes that quite frankly, they can't
afford is not making their lives any better. Again, it's
like King Kong. What happens to King Kong? The monkey
(15:37):
dies in the end. I've seen all this stuff before.
I know what's going to happen. Let's fix the housing market,
the right way, gotta take a break. Watchdog on Wallstreet
dot com. Watchdog on Wall Street dot com is our site.
Become a part of the Watchdog on Wall Street family
or personal CFO program, our podcast, our newsletter, all sorts
(15:59):
of great stuff. Watchdog on Wall Street dot Com quarter back.
Speaker 1 (16:20):
You should believe in math, not magic. You're listening to
the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (16:32):
You see not only not only do we address problems,
not and we we don't just I'm not a complainer here.
We don't just complain about party. We point out problems.
But guess what I do. Guess what I do that
Hannity doesn't do with his pom poms in his skirt.
(16:53):
Yay Trump, we love Trump, Yes we do. We love Trump,
Yes we do. It's like some sort of bloody cheerleader
for crying out loud somebody's fools on Fox. Not only
do we dress problems here on the program, we'd look
to solve them, and we offer solutions. Find out of
the program, fight find another bloody radio program out there.
(17:15):
All they'll complain and all Democrats, bad Donkeys, bad Donkey's,
bad Republicans. It's all same. Crap. Okay, I'm not a
member of either party. Used to be a member of
the Republican Party and I got smart and left because
all they do is lie. Oh yeah, we care about
deficits and you're so full of you don't care about anything. Okay,
(17:35):
few and far between, and the ones that do actually
open their mouths and actually try to do something about it.
Ah yeah, yeah, you send out billionaires to try to
get them ousted from Congress, like Rand Paul and Thomas Massey. Anyway,
I want to talk a little bit about Obamacare. Watch me,
watch me fix this, watch me fix this again. Nothing
(17:57):
done for nothing. Oh we can got top men working
on right now, just like raiders are a lost ark.
Oh yeah, my time, we got top men working on.
We got we got a lot of ideas. Oh yeah,
lots of ideas. Ideas, I do use ideas. Where where
are your ideas? The entire thing from the get go
was a handout to insurance companies. The entire thing. It's simple,
(18:24):
it really is. Okay, first and foremost, Okay, you have
to eliminate all of the garbage that you force people
to buy. There's no way, I'm telling you right now,
I'm telling you right now, I am not going to
get pregnant. I'm just not gonna get pregnant, not gonna
happen yet. I'm paying for attorney, I have to pay
(18:48):
for drugs. I have to pay for all the drug
addiction and all this other nonsense that's out there. Okay. Insurance, people,
is something you buy that you don't have to use,
so you don't want to use. Okay, you don't want
to use your life insurance because you're dead. You buy
car insurance, but your car insurance doesn't cover doesn't cover
an oil change, doesn't cover a car wash. You pay
(19:10):
for that by yourself. For crying out loud, why in
the world are we paying for who You're gonna visit
deductor every year? What pay for that yourself? You buy
insurance in case God forbids something awful happens. My brother, Michael,
my partner, got a terrible blood cancer. This is before Obamacare,
(19:35):
and we had catastrophic insurance. This was the time. This
was George W. Bush's best initiative. Rick sand Torm was
actually behind this high deductible health insurance coupled with a
health savings account. We had catastrophic coverage. It was covered,
and its built was hundreds of thousands of dollars. He
had to do a whole stems. It was pretty scary.
(20:00):
That's what insurance should cover. You allow insurance to be
sold across state lines, You allow for competition. The government
stops subsidizing people who have pre existing conditions, you have
a high risk pool. You can do that. But no, no, no, no,
(20:20):
we're not gonna do that. Why are we not going
to do that? Same reason why insurance companies write big
checks to donkeys and elephants. Watchdog on Wallstreet dot Com.
I did a podcast on this. I even getting further
into depth and the ways to fix this. Watchdog on
Wallstreet dot Com podcast, newsletter, personal CFO program, Don't go Anywhere,
(20:44):
We'll be back.
Speaker 1 (20:52):
And bringing him America Financial Freedom. One listener at a time.
You're listening to the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:10):
Welcome back, Welcome back, everybody. All right, I'm gonna I'm
gonna talk talk a little bit about capitalism, capitalism, wealth redistribution,
all of these hot button topics today. I actually had
sent sent over to me from a young kid. It's like,
(21:32):
you know, it's like I feel like I'm playing. I'm
playing a game of Monopoly. I'm asked to play a
game of Monopoly in in today's America. But everybody's already
been playing. Everybody's already been playing, you know, for for
a long time. And I'm on the board right now,
and I can't buy anything. I can't buy any property.
(21:54):
I can't buy any houses or hotels. I can't even
play the game. So the game been going on and
I can't participate. I'm just going around the board and
I'm just you know, collecting my paycheck every single time
I passed going. I'm just paying people out. I can't
get anything. Do they have a point? Are you gonna
deny that? That's there's not some truth a lot of
(22:17):
truth actually facts in that statement. Again Median, first time
home buyer, forty years old. I've been saying this for
a long time, been talking about this for a long time.
I've talked road to SERFD them, you know, ac DC
(22:39):
Highway to Hell and the fact that we have been
you know, we're not We're not a capitalist society. I
would love for us to be a capitalist country. We're
not kids, you know, kids are hammering capitals. They don't
like capitalist. I'm like, they don't know, let's try. We
(23:00):
keep calling this country capitalist. It hasn't been that way.
I mean again, yeah, you get your pockets and some
small towns and communities right here. What we got, okay,
what we got is corporatism, cronyism, and a government run
version of socialism for the rich. Prove me wrong, Prove
(23:26):
me wrong. The political class and big business have teamed
up to tilt the game and their favor, while everyone
else keeps wondering why it feels harder and harder and
harder to get ahead. This has been our theme here
(23:47):
on the program for a long time. I've talked about
that hamster wheel, the fact that you're lied to about inflation.
Real inflation numbers have been going up for a period
of time, of course they have. Past fifty years, You've
lost fiftyfty three percent of your buying power. We've engineered
our portfolios at Markowski Investments to fight against that. Think
(24:11):
about it, if you're losing that amount of buying power
year over yet, do you understand the type of return
you need to see on your investments to get ahead?
I remember years ago, I'm like, do you remember in
nineteen nineties nineteen niney you could see six percent ten
year treasury. You can retire. You have a million dollars,
(24:33):
you can retire on that and live off the income.
You can't do that anymore. All power people, all power,
I in terms of Superman, Okay, but anyway, all power
(24:53):
in Washington it's not it's not nus Okay, it's not
Schoolhouse Rock that I used to watch back in the
nineteen s devities on Saturday, when I'm just a bill,
just an order, and they're talking about, are wonderful our
government is. It's not in the people. It's in the
tax code, in the regulatory code. That's where the real
deals are made. Congress writes loopholes and exemptions, then sells
(25:15):
access to them. Again, Superman, it's their yellow sun, their
source of power. That's the way Superman gets his strength.
That's how they get their strength. Washington, d C. Okay,
highest per capita, highest per capita pay in the entire country,
(25:35):
it's not even close. Is there any factories in Washington,
d C? Do you know if you know any factories?
There is there any any tech companies that are located
in Washington, d C. Washington d C highest highest salary
per person in the country. Everyone there gets rich, deciding
(26:01):
who pays what and who doesn't. Again, I've pushed for
getting rid of the income tax for a very long time.
I've talked about going to a national sales tax in stend,
where you pay when you spend, where it's simple, transparent, honest.
(26:22):
But it will never ever happen. Neil Bourds used to
talk about it in hair show with the the lender
fair tax idea. It's never gonna happen because it takes
power away, takes power away from the people in Washington, DC,
the ability to buy and sell influence. Power would go
(26:43):
back to the people. Swamp can't have. That swamp can't have.
That's gonna take a quick break. Talk more about this
when we get back. Watchdog on Wall Street dot Com.
Watchdog on Wall Street dot Com again, become a part
of our family, the Markowski and Investments family again. Any
(27:04):
other finding anybody else talking like this, any other program
being honest with people like this? Oh, why are you
guys so successful your clients? Yeah, we deal with reality
and the terrain, not bull excrement. Watchdog on Wallstreet dot
Com or give us a call eight hundred four seven
eighty four.
Speaker 1 (27:39):
Teaking Wall Streets, liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Street.
Speaker 2 (27:53):
Talking about the first hour of the program. I talked
about my favorite shark, Warrant Buffett. He understood this. He
unders so the system very well, just like we do.
He understood regulatory capture, understood crony capitalism, and he structured
his investment properly. You think I like, yeah, I like
havisinio companies being able to take advantage and do all
(28:14):
these things. I don't. But guess what I have. This
is this is the reality. This, this is the reality.
I have to understand that this is the game. This
is how it's played, and I have to invest accordingly
for my clients. I don't like it. Crony capitalism, It's
not capital there's no capitalism in it. Okay, all this stuff,
(28:38):
all the stuff that we're being told, Okay, give example. Okay,
this is getting back to terras again, and still to
this day, for whatever reason it may be, you still
get the true believers that the kool Aid drinkers out
there that think that terrafts are actually a good thing.
How do terriffs help small businesses. That's my question. How
(29:01):
do tariffs help small businesses which are the job engine
here in this country? Now, tariffs tariffs big companies. They
can adjust. They can adjust. They've got various different lever
levels that they can adjust. They can Yeah, they can
(29:23):
say tell call their suppliers or people that are buying
uh uh, you know input costs from over in China, India.
Malaysians say hey, listen, okay, instant of these tariffs, you know,
you're gonna have to cut us a little bit better
of a deal. And they're gonna get that deal. Do
you think a mom and pop shop is going to
get that deal? No? No, they can take part of
(29:44):
those tariffs. They can pass them to the people that
buy their sneakers. Like I use Nike as an example.
Nike isn't hurt by tariffs, but they're smaller competitors are
all right. I told this, We watched this not just
with tariffs. It's a regulation, but it's a tax as well. Again,
it's a power to tax. It's a power to regulate.
(30:05):
Think about after after the financial crisis, we were told
that all God Frank to oh you know what, we're gonna.
Speaker 3 (30:11):
Make the financial service sector safe, and we're doing all
this stuff, and we bailed out the big banks, and
then we made them omnipotent, made them omnipotent.
Speaker 2 (30:23):
Not that we make them omnipotent, but we also crush
their competitors because their competitors couldn't compete, their competitors couldn't
pay for the regulatory costs they couldn't afford, wasn't worth
it for them to stay in business anymore. So up
here comes JP Morgan, here comes Goldman Sachson, gobbles up
(30:48):
all the small and mid sized banks and they're gone. Yeah.
But again again, they write much bigger checks than the
little small community banks or the small sneaker company that's
out there. Oh I'm not done. I'm not I'm having
(31:10):
too much fun with this again. What you learn here
at the watch Dog on Wall Street show, okay, is
what they didn't teach you in high school, they didn't
teach you in college. I actually teach you how the
world works. Novel concept Watchdog on Wallstreet dot Com. Watchdog
on Wallstreet dot Com is our site again, our personal
(31:30):
CFO program, podcast, newsletter, everything, take advantage. Become a part
of our family. Watchdog on Wallstreet dot Com. We'll be back.
Speaker 1 (31:41):
Chris Markowski is the watchdog on Wall Street. I ain't
got no melody coming to my friend. This is the
what Doug on Wall Street?
Speaker 2 (32:02):
And welcome back. Okay, Yeah, capitalism something a man would
be great if we became capitalist. It would be great
if we became capitalist once again. We had many issues
(32:26):
that we have to deal with. The tie ins between
government and business have been highly critical. Uh. Trump taking
equity positions in various different companies have had that problem
for a long time. Let's talk about here in the program.
Whenever you see a politician at some sort of construction
site with a gold shovel. Uh oh, okay, there's a
(32:50):
lot of money change in hands. There's a bag man somewhere.
It's just it's bad news. Okay. The government is the referee. Okay,
it's there. It called balls and strikes. That's it. You're
not to get involved. They call it. Oh, it's the
(33:10):
public private partnership. Kumbaya, my lord, right. Right. Left calls
it public private partnership. The right calls it pro business policy.
It's the same damn racket, same damn racket. I want
(33:31):
to quote Steve Bannon and I don't agree with Steve
Bannon on a lot, I really don't, but he got
this one right. He was talking about young voters in
recent election. He said, these young voters, they don't hate capitalism.
They've never had a shot at it. They've been stuck
at the bottom of a corporate to system their entire lives,
(33:52):
just like serfs and the old Russian Empire. They've seen
the rich and connected protected, what the people who actually
work and build get taxed, regulated and boxed in. Now,
guess what, Okay, talked about all these problems, but what
(34:12):
are we gonna do? What are we gonna do here
on the program, We're going to tell you how to
fix them. We had some solutions for these things, and
it's not that complicated. First and foremost, and this involves
executive pay. This is something I've talked about for a
couple of decades now. Quite frankly, at least at least
(34:34):
I think they first. I think it was Dick Durbin
was involved with this, this back in the nineteen nineties
where they changed the rules for compensation for executives and
what was it going to be a deduction to the company,
which led to all of these massive stock grants. If
you go back and you take a look at you
go back in history and you take a look at
(34:55):
these executive pay packages and when they've gone off the
rails because it's not cash, it's stock. It all happened
after again government regulation. But I would ban ban all
stocked based pay for executives. Executives, if you are an executive,
(35:18):
you're une suite. You get a check. You get a check.
You don't get a mountain of stock options. Okay, if
you want shares in the company that you work for,
buy them, buy them like everyone else has to do.
Give example of this, I used, you know the show
(35:39):
hal Tony and Growing to grace baseball players. I've ever seen,
I've ever seen. He got a massive, massive pay package
over it for the Los Angeles Dodgers. Right, it's a
great investment. Dodgers made makeing a fortune off this guy.
But he didn't get ownership in the Dodgers, did he? No? No, again,
(36:01):
he's a top player. But listen, these executives, pay them
what they're worth. Pay them what they're worth. If Jamie
Diamond is worth fifty million dollars a year, pay him
fifty million dollars a year. Then he's got the money.
If he wants to buy more stock in jpmore, he
goes out and buys it like everyone else has to do. Ah.
(36:21):
The only people, only people who should get ownership stakes
are the workers, that's right, not the executives. You set
it up so the workers in the company actually get
ownership in the company that they work for. And again,
brilliant move. Okay, many great companies in this country have
(36:43):
done this. Home Depot for example, one of my heroes,
Ken Langon, one of the founders of Home Depot, and
I've talked about him in this years ago here on
the program. He's got a great book out called I
Love Capitalism. He actually understands it. Millionaires, he said, it
was like three four thousand people that started by pushing
(37:07):
carts out of the the parking lot into home Depot
right now are millionaires because of the stock grants that
they got when they started working there. Give those people
stock in the companies now executives get you get cash.
You get cash, Okay, you can afford now to go out,
(37:28):
you want it, Maybe want to let them buy you know,
some stock at a discounted okay, but they got you're
buy it. And again you know what they'll do too,
that'll free up the whole stock buyback scam that happens
all the time when companies buy back the stock of executives.
I'd rather see more money, quite frankly, being spent on
capital expenditures. Now, guys like you know, they're like they
(37:51):
make fun of them, are a lot of Muscarolos money.
He's making all this. It's his company. He built it, Okay,
Tesla's basically he built them. They're his. So he got
a lot of those shares. Now it's interesting people are
talking about his recent pay package that he got and
(38:12):
what it could be worth, and yeah, I get it.
You know, they came forward to really pay him based
upon what he's worth. But again he's got to meet
all sorts of benchmarks to get it. But in the
same way, I much rather have executives get paid cash. Now, politicians,
(38:33):
what do they build, what do they create? Nothing? They
collect money. That's all I do. It's how it works.
And again I've experienced this quick stories. A close friend
of mine one of the best eye surgeons in the country,
and he left us a a few years ago, unfortunately
much too young. I used to get the calls all
(38:54):
the time from DC. Better send a check. Your reimbursing
rates are gonna go down. This is his words, not mine.
They're all horse and he was right. Okay, you want
to get contract, you want to manage public funds, you
want to get an appoyment, you better hire a lobbyist
Merit doesn't matter, access does. Washington doesn't want capitalism. Real
capitalism is messy. It allows for people to fail to compete,
(39:17):
to build something on their own. That kind of system
doesn't need politicians. That's capitalism. Watchdog on Wallstreet dot com,
we'll be back.
Speaker 1 (39:28):
You are still a victim of the accident. You're listening
to the Watchdog on Wall Street
Well, no one authored investment banker, consumer advocate, analyst, trader
Chris Markowski is the watchdog Wall Street. Do you want
to answer exposing the lies and myths that the big
brokerage firms, the mainstream press, and the government are pushing
to keep Americans away from financial freedom.
Speaker 2 (00:27):
You can't handle the true proof.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 2 (00:34):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.
Speaker 1 (00:39):
This is the watchdog Wall Streets.
Speaker 2 (00:44):
So last Saturday, last Saturday, you know, at some point
in time, my wife just needs to take needs to
take my phone. I'll wait with broker just for the weekends,
I get a little bit of peace. Last Saturday we
were out friends too, and it's absolutely ruined my night.
(01:07):
Trump puts out a tweet, puts out a tweet of
great American presidents. And there's a picture, I kid you
not of FDR FDR and himself and under FDR it
says thirty year mortgage, and under Trump it said fifty
year mortgage. And when I first saw it, this is
(01:29):
part of the problem. I didn't think it was real.
This has gotta be some sort of hack. This is
can't be real. I don't believe this nonsense. You gotta
be kidding me. But then you know, a wheels start
turning to your head and I'm like, I gotta figure
if this is really you know, it was bothering me,
It was bothering me. I said, no way, I said,
first and foremost, you're gonna have a Republican president putting
(01:50):
himself up next to FDR and Great America. What anyway? Anyway,
it's true. And as it turned out, Ah Bill Pulte,
Bill Pulte, who should be should have been fired, fired,
fire brought that brought that chart. It was like a
(02:16):
five by eight board he brought in to see the
President at mar A Lago, and ten minutes later the
President ran with it. Now again, President seventy nine years old,
seventy nine years old, Listen, do I think he needs
a slow down? I do? I do this? You didn't
(02:39):
think about this? I mean, you're in the you've been
in the construction business. You've dealt with loans your your
entire life. You think it's a great idea for people
to take out a fifty year mortgage. You think that's
going to bring prices down. No, Bill Pulti's a he's
(03:01):
a house salesman, cause that's what he does. He builds homes.
He builds homes. Let me tell you what the situation
is with the homebuilders right now. Homebuilders, they're having a
difficult time right now moving their new homes. Oh, yes
they are. Yes, they're offering all sorts of incentives, so
they're actually lending you the money at lending the money
(03:23):
at below market rates four percent, five percent loan. They'll
lend it to you, all sorts of incentives so they
can get these houses off their books. Bill Pulte was
self dealing here. You put out a fifty year mortgage,
You think that's going to bring the price of homes down.
(03:45):
It's going to do the exact opposite, the same way
a thirty year mortgage keeps prices up. If you got
rid of a thirty year mortgage and they brought it
down to a fifteen year mortgage, what do you think
would happen. People's what people could afford over the course
of a month would go down. Therefore the price of
the homes would go down. Do you think any bank
would be writing these things if they couldn't sell them
(04:06):
to Fanny and Freddy, No way, no, how not to
mention in fact, the fifty year mortgage based upon time,
they probably have to charge seven and a half eight
percent for that loan. I was it was beside myself.
I really was, And you know from what I heard.
I you know from when I heard from my connects.
(04:29):
People inside the administration were none too happy with Bill Poulte.
This is the reality right now, and I've talked about
this here on the program. I'm honest with everybody here Again.
I want the president to do well. But guess what, Okay,
(04:50):
the economy is doing well for some people, doing well
for some people, it's not doing well for all people
in a large spot that those people are young people,
all right. Buying a home nineteen eighty five versus twenty
twenty five median household income in nineteen eighty five twenty
(05:13):
three thousand, six hundred and twenty dollars median household income
nineteen eighty five. Median price of a home in nineteen
eighty five eighty three thousand, two hundred dollars. Median household
income twenty twenty five is seventy four thousand, five hundred
and eighty dollars median home price, four hundred and sixty
(05:39):
eight thousand dollars median first time home buyer right now
forty years old. A lot of reasons for this, many
reasons for this. One of the reasons first and foremost
is we've allowed again. It's part of the problem we've
(06:01):
had in this country for some time. And you can
take this all the way, all the way back to
Nixon taking us off the gold standard. It's just the
reality of the situation. We've financialized everything here in this country.
Private equity firms, real estate investors, the blackstones of the world.
They bought one third of all single family residential properties
(06:24):
sold in the second quarter of twenty twenty five. They
bought twenty seven percent in the first quarter. Now we
explain to you how the scam works here on the
program you. Let's just I will always use an innocuous name.
We'll use X, y Z, XYZ. Private equity, whatever it
may be, buys up a whole housing track. And let's
(06:45):
say Fort Myers, Florida, will throw Fort Myers out there,
buy U up a new development out there. They go
to the builder builders selling the homes for five hundred
thousand dollars. They come in and say, we'll buy them all.
We'll buy them all. You say to us for four hundred,
they buy them all. Okay, Bill is like fine, pen
cash bam boom done, We're done. We unloaded all of
(07:07):
our inventory right there. Now, XYZ Investment Firm sits on
those properties after they bought them for a year for
a year. Then they sell three of those homes to
another fund that they also own, but they sell it
at seven hundred thousand. Crash bang poom pow. Wow, look
at that. We got comps. Oh, we got neighborhood comps.
(07:30):
Now we just saw just three homes down. These houses
are worth seven hundred thousand now because we just sold
three and you artificially, you self deal, you sell it
to yourself, You artificially pump up the value of these homes.
And guess what, it's perfectly damn legal, pathetic and sad,
pathetic and sad, and you need to have an ethical
bypassive birth to do that, because you're ripping off your
(07:52):
fellow Americans and you damn well know it. But it's
perfectly legal. Again, makes me sick to my stomach again,
Could we deal with this problem. No problem, no problem.
Ron Desantas is trying down here in Florida to do this.
You don't think that they can they can fix this problem.
You don't think that they can fix this in a
(08:13):
heartbeat in Washington, DC with tax laws. Absolutely, but they don't.
Why do you think that is? Well, you see the
young people out there looking for homes. They don't write
very big checks for campaign contributions, but the homebuilders do.
(08:34):
The Bill Poulties of the world do Bill Pulty, He's
doing it so much money for crying out loud, he's
in the administration. Think about that. He's working for the
He is a national homebuilder and he is working in
the administration. Why you don't think he's looking to help
himself for taking that job? Come on, man, Or what
(08:55):
about the real estate agents out there? What you think
you think they want prices to come down? No, no, no, no, no, no,
no no no. They don't want prices to come down.
That means they take a lower commission. They are major donors.
I was happy to see some good news, some light here.
I was happy to see something that I have been
(09:16):
pushing for here on the program for the past several years,
past several years, is to allow mortgages to be potable.
What does that mean? That means if you took out
a mortgage back and let's say during COVID two thousand
and you got it let's say two point seven percent,
and you want to move, you want to move, you
(09:39):
got a job offer somewhere else, or whatever it may be.
You want to downsize. You can actually have that mortgage
come with you or transfer it to the new home buyer. Now,
why won't we be allowed to do this forever? Because
we can. You can sell every other type of debt
instrument out there, whatever it may be, You could sell that.
(10:01):
Why can't you move your mortgage with you? It's a
debt instrument. Well, the big banks out there, you don't
think that they want to retire all of these low
interest loans that are out there. Of course they do.
Of course they do. And they're gonna say, oh, it's
just too difficult, it's not possible to make this happen.
They're full of crap. It's very easy to do. It
(10:25):
could totally be done, and it would free up a
lot of the reels that would help prices to come down.
Another thing again, Ron DeSantis. It was my first pick
for president. But anyway, Ron de Santas down here in
Florida is actually pushed for again only paying property taxes
(10:47):
owner occupied. That's right, whack these corporate buyers upside the head.
Make them pay owner occupied home. You're a resident or
whatever state it may be. Okay, cut those property taxes
down to nothing. Cut them down. You want another thing, mister,
watch Laura Wall watch me, watch me do my magic,
(11:08):
Mark Kowski's magic. I'm making prices come down everywhere. Okay,
real estate agent's gonna send a hit man out for me. Okay.
Federal floods. Why in the world can somebody with a
seven figure plus mansion on the water. Why are they
getting subsidized flood insurance on the taxpayers? That is welfare
(11:32):
for rich people. Cut that crap out. I don't want
real estate. Oh no, we can't do that. The price
is the home's gonna go down, and our commission's gonna
go down, and we're not gonna be able to take
pictures in front of homes. What champagne glasses. I mean, honestly,
it's a racket. It always has been. I don't care.
(11:53):
You know what I want though, I want the housing
market to correct. I want it to go down by third,
thirty percent, maybe go on forty. I don't care how
you think. I give a darn if my home value
drops by thirty forty percent, If your home value drops
by thirty to forty percent, let me ask you a question.
Does your kitchen shrink by thirty to forty percent? Does
(12:16):
your living room shrink by thirty to forty percent? No?
This is the problem, okay, is that you have been
told you've been sold a bill of goods, one of
the biggest bunch of bs ever. Ooh, your home is
a wonderful investment. O wonderful. No, it's a home. It's
a home. It's not an investment. And you get this,
(12:37):
this nefarious relationship between a lot of agents out there
and also the brokers out there as well. Oh, take
equity out of your home, cast out of your home,
and then go buy this and then go buy that. No, No,
it got out of control, out of control, this notion
(12:58):
out there, and this happened. The other things led to
this as well. You can go back to the Carter
years with the Community Reinvestment Act and then forcing bank
banks got to protect themselves too. Okay, politicians basically push
them in a direction. Up. You got to lend to
these people. You got I got stuff here, Andrew Cuomo
back in the day, you know, talking about all of
these funky mortgages that they're putting together during the Clinton
(13:20):
administration that help lead to the financial crisis. No, homes
should go up at the rate of inflation, no more,
no less in inflation, like Judy Sheltonson should be zero.
And that's what we should strive for. Very easy, very
easy to fix. But it's like dieting. Okay, simple nuddies,
(13:46):
I guess, Okay, not easy in the sense that you're
going to be fighting all these special interests. Things don't
get done here in this country because of the checks
that are cut by special interests. Simple as that. That
is the reason why prices are unaffordable, completely broken down
(14:06):
for you right there, jan and I told you how
to fix it. Do you think Bill Polte is gonna
do that? Ah? No, no, no, no. You know what
Bill Poulte did this last week. Okay, I've seen this
movie before. Think Fanny and Freddy just did away with them.
They dropped, they dropped the six hundred and twenty credit
(14:27):
score minimum. I kid you not, dude. We are back.
We're back. We're back. Oh, Morgan's Broke is gonna love us.
We're back to the days prior to the financial crisis.
Ninja loans, no income, no job, no assets. Hey, we
don't care. We'll put it on the taxpayers backs. Are
you kidding me? That's not gonna make prices come down
(14:51):
first and foremost. Okay, and I remember, I remember being
at the Republican National Convention. This is two thousand and four. Okay,
bush versus carry and bush it. They're handing out signs
ownership society, ownership society. They pushed this nonsense too. You
have Okay, let me make this perfectly clear. You don't
have a bloody right to own a home. You have
(15:14):
a bloody right to earn one. You don't have the
right to a home. You have the right to earn one.
And putting people into homes that quite frankly, they can't
afford is not making their lives any better. Again, it's
like King Kong. What happens to King Kong? The monkey
(15:37):
dies in the end. I've seen all this stuff before.
I know what's going to happen. Let's fix the housing market,
the right way, gotta take a break. Watchdog on Wallstreet
dot com. Watchdog on Wall Street dot com is our site.
Become a part of the Watchdog on Wall Street family
or personal CFO program, our podcast, our newsletter, all sorts
(15:59):
of great stuff. Watchdog on Wall Street dot Com quarter back.
Speaker 1 (16:20):
You should believe in math, not magic. You're listening to
the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (16:32):
You see not only not only do we address problems,
not and we we don't just I'm not a complainer here.
We don't just complain about party. We point out problems.
But guess what I do. Guess what I do that
Hannity doesn't do with his pom poms in his skirt.
(16:53):
Yay Trump, we love Trump, Yes we do. We love Trump,
Yes we do. It's like some sort of bloody cheerleader
for crying out loud somebody's fools on Fox. Not only
do we dress problems here on the program, we'd look
to solve them, and we offer solutions. Find out of
the program, fight find another bloody radio program out there.
(17:15):
All they'll complain and all Democrats, bad Donkeys, bad Donkey's,
bad Republicans. It's all same. Crap. Okay, I'm not a
member of either party. Used to be a member of
the Republican Party and I got smart and left because
all they do is lie. Oh yeah, we care about
deficits and you're so full of you don't care about anything. Okay,
(17:35):
few and far between, and the ones that do actually
open their mouths and actually try to do something about it.
Ah yeah, yeah, you send out billionaires to try to
get them ousted from Congress, like Rand Paul and Thomas Massey. Anyway,
I want to talk a little bit about Obamacare. Watch me,
watch me fix this, watch me fix this again. Nothing
(17:57):
done for nothing. Oh we can got top men working
on right now, just like raiders are a lost ark.
Oh yeah, my time, we got top men working on.
We got we got a lot of ideas. Oh yeah,
lots of ideas. Ideas, I do use ideas. Where where
are your ideas? The entire thing from the get go
was a handout to insurance companies. The entire thing. It's simple,
(18:24):
it really is. Okay, first and foremost, Okay, you have
to eliminate all of the garbage that you force people
to buy. There's no way, I'm telling you right now,
I'm telling you right now, I am not going to
get pregnant. I'm just not gonna get pregnant, not gonna
happen yet. I'm paying for attorney, I have to pay
(18:48):
for drugs. I have to pay for all the drug
addiction and all this other nonsense that's out there. Okay. Insurance, people,
is something you buy that you don't have to use,
so you don't want to use. Okay, you don't want
to use your life insurance because you're dead. You buy
car insurance, but your car insurance doesn't cover doesn't cover
an oil change, doesn't cover a car wash. You pay
(19:10):
for that by yourself. For crying out loud, why in
the world are we paying for who You're gonna visit
deductor every year? What pay for that yourself? You buy
insurance in case God forbids something awful happens. My brother, Michael,
my partner, got a terrible blood cancer. This is before Obamacare,
(19:35):
and we had catastrophic insurance. This was the time. This
was George W. Bush's best initiative. Rick sand Torm was
actually behind this high deductible health insurance coupled with a
health savings account. We had catastrophic coverage. It was covered,
and its built was hundreds of thousands of dollars. He
had to do a whole stems. It was pretty scary.
(20:00):
That's what insurance should cover. You allow insurance to be
sold across state lines, You allow for competition. The government
stops subsidizing people who have pre existing conditions, you have
a high risk pool. You can do that. But no, no, no, no,
(20:20):
we're not gonna do that. Why are we not going
to do that? Same reason why insurance companies write big
checks to donkeys and elephants. Watchdog on Wallstreet dot Com.
I did a podcast on this. I even getting further
into depth and the ways to fix this. Watchdog on
Wallstreet dot Com podcast, newsletter, personal CFO program, Don't go Anywhere,
(20:44):
We'll be back.
Speaker 1 (20:52):
And bringing him America Financial Freedom. One listener at a time.
You're listening to the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:10):
Welcome back, Welcome back, everybody. All right, I'm gonna I'm
gonna talk talk a little bit about capitalism, capitalism, wealth redistribution,
all of these hot button topics today. I actually had
sent sent over to me from a young kid. It's like,
(21:32):
you know, it's like I feel like I'm playing. I'm
playing a game of Monopoly. I'm asked to play a
game of Monopoly in in today's America. But everybody's already
been playing. Everybody's already been playing, you know, for for
a long time. And I'm on the board right now,
and I can't buy anything. I can't buy any property.
(21:54):
I can't buy any houses or hotels. I can't even
play the game. So the game been going on and
I can't participate. I'm just going around the board and
I'm just you know, collecting my paycheck every single time
I passed going. I'm just paying people out. I can't
get anything. Do they have a point? Are you gonna
deny that? That's there's not some truth a lot of
(22:17):
truth actually facts in that statement. Again Median, first time
home buyer, forty years old. I've been saying this for
a long time, been talking about this for a long time.
I've talked road to SERFD them, you know, ac DC
(22:39):
Highway to Hell and the fact that we have been
you know, we're not We're not a capitalist society. I
would love for us to be a capitalist country. We're
not kids, you know, kids are hammering capitals. They don't
like capitalist. I'm like, they don't know, let's try. We
(23:00):
keep calling this country capitalist. It hasn't been that way.
I mean again, yeah, you get your pockets and some
small towns and communities right here. What we got, okay,
what we got is corporatism, cronyism, and a government run
version of socialism for the rich. Prove me wrong, Prove
(23:26):
me wrong. The political class and big business have teamed
up to tilt the game and their favor, while everyone
else keeps wondering why it feels harder and harder and
harder to get ahead. This has been our theme here
(23:47):
on the program for a long time. I've talked about
that hamster wheel, the fact that you're lied to about inflation.
Real inflation numbers have been going up for a period
of time, of course they have. Past fifty years, You've
lost fiftyfty three percent of your buying power. We've engineered
our portfolios at Markowski Investments to fight against that. Think
(24:11):
about it, if you're losing that amount of buying power
year over yet, do you understand the type of return
you need to see on your investments to get ahead?
I remember years ago, I'm like, do you remember in
nineteen nineties nineteen niney you could see six percent ten
year treasury. You can retire. You have a million dollars,
(24:33):
you can retire on that and live off the income.
You can't do that anymore. All power people, all power,
I in terms of Superman, Okay, but anyway, all power
(24:53):
in Washington it's not it's not nus Okay, it's not
Schoolhouse Rock that I used to watch back in the
nineteen s devities on Saturday, when I'm just a bill,
just an order, and they're talking about, are wonderful our
government is. It's not in the people. It's in the
tax code, in the regulatory code. That's where the real
deals are made. Congress writes loopholes and exemptions, then sells
(25:15):
access to them. Again, Superman, it's their yellow sun, their
source of power. That's the way Superman gets his strength.
That's how they get their strength. Washington, d C. Okay,
highest per capita, highest per capita pay in the entire country,
(25:35):
it's not even close. Is there any factories in Washington,
d C? Do you know if you know any factories?
There is there any any tech companies that are located
in Washington, d C. Washington d C highest highest salary
per person in the country. Everyone there gets rich, deciding
(26:01):
who pays what and who doesn't. Again, I've pushed for
getting rid of the income tax for a very long time.
I've talked about going to a national sales tax in stend,
where you pay when you spend, where it's simple, transparent, honest.
(26:22):
But it will never ever happen. Neil Bourds used to
talk about it in hair show with the the lender
fair tax idea. It's never gonna happen because it takes
power away, takes power away from the people in Washington, DC,
the ability to buy and sell influence. Power would go
(26:43):
back to the people. Swamp can't have. That swamp can't have.
That's gonna take a quick break. Talk more about this
when we get back. Watchdog on Wall Street dot Com.
Watchdog on Wall Street dot Com again, become a part
of our family, the Markowski and Investments family again. Any
(27:04):
other finding anybody else talking like this, any other program
being honest with people like this? Oh, why are you
guys so successful your clients? Yeah, we deal with reality
and the terrain, not bull excrement. Watchdog on Wallstreet dot
Com or give us a call eight hundred four seven
eighty four.
Speaker 1 (27:39):
Teaking Wall Streets, liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Street.
Speaker 2 (27:53):
Talking about the first hour of the program. I talked
about my favorite shark, Warrant Buffett. He understood this. He
unders so the system very well, just like we do.
He understood regulatory capture, understood crony capitalism, and he structured
his investment properly. You think I like, yeah, I like
havisinio companies being able to take advantage and do all
(28:14):
these things. I don't. But guess what I have. This
is this is the reality. This, this is the reality.
I have to understand that this is the game. This
is how it's played, and I have to invest accordingly
for my clients. I don't like it. Crony capitalism, It's
not capital there's no capitalism in it. Okay, all this stuff,
(28:38):
all the stuff that we're being told, Okay, give example. Okay,
this is getting back to terras again, and still to
this day, for whatever reason it may be, you still
get the true believers that the kool Aid drinkers out
there that think that terrafts are actually a good thing.
How do terriffs help small businesses. That's my question. How
(29:01):
do tariffs help small businesses which are the job engine
here in this country? Now, tariffs tariffs big companies. They
can adjust. They can adjust. They've got various different lever
levels that they can adjust. They can Yeah, they can
(29:23):
say tell call their suppliers or people that are buying
uh uh, you know input costs from over in China, India.
Malaysians say hey, listen, okay, instant of these tariffs, you know,
you're gonna have to cut us a little bit better
of a deal. And they're gonna get that deal. Do
you think a mom and pop shop is going to
get that deal? No? No, they can take part of
(29:44):
those tariffs. They can pass them to the people that
buy their sneakers. Like I use Nike as an example.
Nike isn't hurt by tariffs, but they're smaller competitors are
all right. I told this, We watched this not just
with tariffs. It's a regulation, but it's a tax as well. Again,
it's a power to tax. It's a power to regulate.
(30:05):
Think about after after the financial crisis, we were told
that all God Frank to oh you know what, we're gonna.
Speaker 3 (30:11):
Make the financial service sector safe, and we're doing all
this stuff, and we bailed out the big banks, and
then we made them omnipotent, made them omnipotent.
Speaker 2 (30:23):
Not that we make them omnipotent, but we also crush
their competitors because their competitors couldn't compete, their competitors couldn't
pay for the regulatory costs they couldn't afford, wasn't worth
it for them to stay in business anymore. So up
here comes JP Morgan, here comes Goldman Sachson, gobbles up
(30:48):
all the small and mid sized banks and they're gone. Yeah.
But again again, they write much bigger checks than the
little small community banks or the small sneaker company that's
out there. Oh I'm not done. I'm not I'm having
(31:10):
too much fun with this again. What you learn here
at the watch Dog on Wall Street show, okay, is
what they didn't teach you in high school, they didn't
teach you in college. I actually teach you how the
world works. Novel concept Watchdog on Wallstreet dot Com. Watchdog
on Wallstreet dot Com is our site again, our personal
(31:30):
CFO program, podcast, newsletter, everything, take advantage. Become a part
of our family. Watchdog on Wallstreet dot Com. We'll be back.
Speaker 1 (31:41):
Chris Markowski is the watchdog on Wall Street. I ain't
got no melody coming to my friend. This is the
what Doug on Wall Street?
Speaker 2 (32:02):
And welcome back. Okay, Yeah, capitalism something a man would
be great if we became capitalist. It would be great
if we became capitalist once again. We had many issues
(32:26):
that we have to deal with. The tie ins between
government and business have been highly critical. Uh. Trump taking
equity positions in various different companies have had that problem
for a long time. Let's talk about here in the program.
Whenever you see a politician at some sort of construction
site with a gold shovel. Uh oh, okay, there's a
(32:50):
lot of money change in hands. There's a bag man somewhere.
It's just it's bad news. Okay. The government is the referee. Okay,
it's there. It called balls and strikes. That's it. You're
not to get involved. They call it. Oh, it's the
(33:10):
public private partnership. Kumbaya, my lord, right. Right. Left calls
it public private partnership. The right calls it pro business policy.
It's the same damn racket, same damn racket. I want
(33:31):
to quote Steve Bannon and I don't agree with Steve
Bannon on a lot, I really don't, but he got
this one right. He was talking about young voters in
recent election. He said, these young voters, they don't hate capitalism.
They've never had a shot at it. They've been stuck
at the bottom of a corporate to system their entire lives,
(33:52):
just like serfs and the old Russian Empire. They've seen
the rich and connected protected, what the people who actually
work and build get taxed, regulated and boxed in. Now,
guess what, Okay, talked about all these problems, but what
(34:12):
are we gonna do? What are we gonna do here
on the program, We're going to tell you how to
fix them. We had some solutions for these things, and
it's not that complicated. First and foremost, and this involves
executive pay. This is something I've talked about for a
couple of decades now. Quite frankly, at least at least
(34:34):
I think they first. I think it was Dick Durbin
was involved with this, this back in the nineteen nineties
where they changed the rules for compensation for executives and
what was it going to be a deduction to the company,
which led to all of these massive stock grants. If
you go back and you take a look at you
go back in history and you take a look at
(34:55):
these executive pay packages and when they've gone off the
rails because it's not cash, it's stock. It all happened
after again government regulation. But I would ban ban all
stocked based pay for executives. Executives, if you are an executive,
(35:18):
you're une suite. You get a check. You get a check.
You don't get a mountain of stock options. Okay, if
you want shares in the company that you work for,
buy them, buy them like everyone else has to do.
Give example of this, I used, you know the show
(35:39):
hal Tony and Growing to grace baseball players. I've ever seen,
I've ever seen. He got a massive, massive pay package
over it for the Los Angeles Dodgers. Right, it's a
great investment. Dodgers made makeing a fortune off this guy.
But he didn't get ownership in the Dodgers, did he? No? No, again,
(36:01):
he's a top player. But listen, these executives, pay them
what they're worth. Pay them what they're worth. If Jamie
Diamond is worth fifty million dollars a year, pay him
fifty million dollars a year. Then he's got the money.
If he wants to buy more stock in jpmore, he
goes out and buys it like everyone else has to do. Ah.
(36:21):
The only people, only people who should get ownership stakes
are the workers, that's right, not the executives. You set
it up so the workers in the company actually get
ownership in the company that they work for. And again,
brilliant move. Okay, many great companies in this country have
(36:43):
done this. Home Depot for example, one of my heroes,
Ken Langon, one of the founders of Home Depot, and
I've talked about him in this years ago here on
the program. He's got a great book out called I
Love Capitalism. He actually understands it. Millionaires, he said, it
was like three four thousand people that started by pushing
(37:07):
carts out of the the parking lot into home Depot
right now are millionaires because of the stock grants that
they got when they started working there. Give those people
stock in the companies now executives get you get cash.
You get cash, Okay, you can afford now to go out,
(37:28):
you want it, Maybe want to let them buy you know,
some stock at a discounted okay, but they got you're
buy it. And again you know what they'll do too,
that'll free up the whole stock buyback scam that happens
all the time when companies buy back the stock of executives.
I'd rather see more money, quite frankly, being spent on
capital expenditures. Now, guys like you know, they're like they
(37:51):
make fun of them, are a lot of Muscarolos money.
He's making all this. It's his company. He built it, Okay,
Tesla's basically he built them. They're his. So he got
a lot of those shares. Now it's interesting people are
talking about his recent pay package that he got and
(38:12):
what it could be worth, and yeah, I get it.
You know, they came forward to really pay him based
upon what he's worth. But again he's got to meet
all sorts of benchmarks to get it. But in the
same way, I much rather have executives get paid cash. Now, politicians,
(38:33):
what do they build, what do they create? Nothing? They
collect money. That's all I do. It's how it works.
And again I've experienced this quick stories. A close friend
of mine one of the best eye surgeons in the country,
and he left us a a few years ago, unfortunately
much too young. I used to get the calls all
(38:54):
the time from DC. Better send a check. Your reimbursing
rates are gonna go down. This is his words, not mine.
They're all horse and he was right. Okay, you want
to get contract, you want to manage public funds, you
want to get an appoyment, you better hire a lobbyist
Merit doesn't matter, access does. Washington doesn't want capitalism. Real
capitalism is messy. It allows for people to fail to compete,
(39:17):
to build something on their own. That kind of system
doesn't need politicians. That's capitalism. Watchdog on Wallstreet dot com,
we'll be back.
Speaker 1 (39:28):
You are still a victim of the accident. You're listening
to the Watchdog on Wall Street
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