WEBVTT - EYL #82 Fight The Power 0:00:00.400 --> 0:00:04.280 You just realized your business needed to hire someone yesterday. 0:00:04.800 --> 0:00:09.520 How can you find amazing candidates fast? Easy? Just use Indeed. 0:00:09.960 --> 0:00:12.680 Stop struggling to get your job posts seen on other 0:00:12.760 --> 0:00:16.439 job sites. With Indeed sponsored jobs, your post jumps to 0:00:16.480 --> 0:00:19.000 the top of the page for your relevant candidates, so 0:00:19.120 --> 0:00:22.119 you can reach the people you want faster. According to 0:00:22.160 --> 0:00:26.120 Indeed data, sponsored jobs posted directly on Indeed have forty 0:00:26.120 --> 0:00:30.040 five percent more applications than non sponsored jobs. Don't wait 0:00:30.080 --> 0:00:33.519 any longer, speed up your hiring right now with Indeed, 0:00:33.960 --> 0:00:36.200 and listeners of this show will get a seventy five 0:00:36.280 --> 0:00:39.440 dollars sponsored job credit to get your jobs more visibility 0:00:39.600 --> 0:00:45.320 at indeed dot com slash pod Katz thirteen. Just go 0:00:45.360 --> 0:00:50.120 to Indeed dot com slash pod Katz thirteen right now 0:00:50.479 --> 0:00:53.040 and support our show by saying you heard about Indeed 0:00:53.080 --> 0:00:57.400 on this podcast. Terms and conditions apply. Hiring Indeed is 0:00:57.440 --> 0:00:58.040 all you need. 0:00:59.240 --> 0:01:02.840 All right, God guy, welcome back, Eyl. This is a 0:01:02.880 --> 0:01:07.680 state of emergency. Addition, you know, we're talking going back 0:01:07.680 --> 0:01:09.160 and forth for the last couple of days, and we 0:01:09.200 --> 0:01:11.640 got a lot a lot of dope fire episodes and 0:01:11.640 --> 0:01:15.520 the fault that teach people a variety of different tactics, 0:01:15.560 --> 0:01:17.039 how to get their bread right, how to how to 0:01:17.160 --> 0:01:20.520 you know, become entrepreneurs and navigate the field. That's what 0:01:20.720 --> 0:01:23.880 EYL is here for. But we're also a business podcast 0:01:23.959 --> 0:01:27.680 on a broader scale. We've touched on almost every single topic. So, 0:01:27.760 --> 0:01:30.480 you know, having a conversation with Troy a couple of 0:01:30.560 --> 0:01:32.480 days ago, in the midst of everything that's going on 0:01:32.560 --> 0:01:34.440 in this world in our country, I'm like, you know, 0:01:35.319 --> 0:01:37.400 I don't think we should actually, you know, put these 0:01:37.440 --> 0:01:39.280 episodes out. Maybe we should just do like a state 0:01:39.280 --> 0:01:42.680 of emergency last minute, you know what I'm saying, addressing topics. 0:01:42.720 --> 0:01:45.120 We would have been remiss if we didn't address what's 0:01:45.120 --> 0:01:47.880 going on in our community and what's going on in 0:01:47.880 --> 0:01:50.600 the world. Really, so when you call me, we had 0:01:50.600 --> 0:01:52.200 the same thought. You just like, Yo, it wouldn't sit 0:01:52.320 --> 0:01:54.320 right with me if we didn't address it, if we 0:01:54.360 --> 0:01:58.640 didn't take some time to really dive deep into this 0:01:58.720 --> 0:02:00.520 so that we can make everybody away, which is what 0:02:00.560 --> 0:02:03.240 we're known for. So we was on the same page 0:02:03.240 --> 0:02:05.080 and hopefully, you know, we're gonna shed the light on 0:02:05.120 --> 0:02:05.720 some things today. 0:02:05.840 --> 0:02:07.760 Yeah, so we're gonna We're gonna tell you we was 0:02:07.800 --> 0:02:09.200 kind of going back and forth because we're still a 0:02:09.280 --> 0:02:11.880 business podcast and that's all. And I feel like everybody 0:02:11.919 --> 0:02:14.440 has their their their lane and their way to contribute 0:02:14.760 --> 0:02:19.359 to society, and you know, our platform is to provide 0:02:19.520 --> 0:02:23.400 business information, which is extremely valuable, but like, how do 0:02:23.440 --> 0:02:25.800 we tie it in with the social justice So I 0:02:25.840 --> 0:02:28.920 think we did a great job of actually tying it 0:02:28.960 --> 0:02:32.320 two in and talking about it from business standpoint. 0:02:32.480 --> 0:02:34.120 He was adamant about it. I said, YEA, let's just 0:02:34.120 --> 0:02:36.120 go no holds ball, let's go no hose ball, let's 0:02:36.120 --> 0:02:38.200 just speak our mind. Let's let's just tell the people 0:02:38.200 --> 0:02:40.359 how we feel. And he was like, no, we can 0:02:40.440 --> 0:02:43.320 keep it business. I'm like, all right, man, fine. 0:02:43.120 --> 0:02:45.840 Yeah, I wanted. I think it's important because there's always 0:02:45.840 --> 0:02:47.640 a money played behind it, and it's like not just 0:02:47.680 --> 0:02:50.320 to inform people, but to actually let people know how 0:02:50.320 --> 0:02:52.760 they can make a change and how they can actually 0:02:53.040 --> 0:02:55.440 invest in and make some money and do it in 0:02:55.440 --> 0:02:57.200 the right way and different things of that nature. 0:02:57.240 --> 0:02:59.040 So I'm glad we did because it was, like like 0:02:59.080 --> 0:03:01.520 I said all the time, like we learned through the process. 0:03:01.800 --> 0:03:03.840 So there's things that I uncovered that I had no 0:03:03.919 --> 0:03:06.280 idea about. So now we're gonna do what we do 0:03:06.360 --> 0:03:08.560 best and put it in the language to help everybody 0:03:08.560 --> 0:03:09.240 else understand it. 0:03:09.320 --> 0:03:11.280 Yeah, for sure. So this this is gonna be a 0:03:11.320 --> 0:03:13.760 special special episode. We're gonna go over a variety of 0:03:13.760 --> 0:03:16.400 different topics and like I said, it's going to inform you. 0:03:16.560 --> 0:03:20.920 It's also going to educate you, and hopefully people can 0:03:21.040 --> 0:03:23.040 use this to bring about real change, not just to 0:03:23.040 --> 0:03:25.720 listen to it and just be educated, but to actually 0:03:26.120 --> 0:03:29.680 enforce new policy, enforce change, and this hopefully can lead 0:03:29.680 --> 0:03:32.600 to some solutions. So before we start, I just wanted 0:03:32.600 --> 0:03:35.680 to take a moment in silence for Big George Floyd, 0:03:36.160 --> 0:03:39.520 Eric Gardner. I'm gonna do Diallo, Freddie Gray, Sean Bell, 0:03:39.840 --> 0:03:45.320 Orlando Castillo, Treyvon Martin, Sandram Blanz. Too many, it's too many, unfortunately, Yeah, 0:03:45.640 --> 0:03:48.640 it's too many people for us to name. That's just 0:03:48.680 --> 0:03:53.840 a few of black people that have been killed by 0:03:53.880 --> 0:03:59.160 the police and uh, the last you know, decade or so. 0:03:59.160 --> 0:04:00.760 So yeah, I just want to take a moment in 0:04:00.800 --> 0:04:05.839 silence for that, all right. So, so yeah, we're gonna 0:04:05.840 --> 0:04:09.760 we're gonna get right into it. You know, obviously, the 0:04:10.080 --> 0:04:13.400 times that we're in right now, As I said, rest 0:04:13.400 --> 0:04:15.440 in peace to George Floyd. If you saw that, there's 0:04:15.440 --> 0:04:18.600 no justification for what happened with that. You know, it's 0:04:18.600 --> 0:04:20.200 one of these one of the few cases where I've 0:04:20.240 --> 0:04:22.440 seen where there's not even one person trying to justify 0:04:22.520 --> 0:04:24.479 every There's always like, well, what did he do? He 0:04:24.560 --> 0:04:26.840 was resisting, there's always more just I haven't heard one 0:04:26.880 --> 0:04:30.600 person that's actually said like, this is justified. I haven't 0:04:30.640 --> 0:04:32.920 heard anybody trying to justify it. It's just like trying 0:04:32.920 --> 0:04:34.880 to justify other things. But I haven't heard anybody trying 0:04:34.880 --> 0:04:37.280 to justify this. So it's like it brings up a 0:04:37.320 --> 0:04:41.200 larger issue of police brutality. And police brutality is not 0:04:41.240 --> 0:04:45.240 something that doesn't exist, Like I don't care, Yeah, it's 0:04:45.240 --> 0:04:47.320 not We're not gonna act like it doesn't happen. It 0:04:47.320 --> 0:04:50.280 doesn't exist, and I don't want to hear about. You know, 0:04:50.640 --> 0:04:53.040 there are good cops. That's not the point. Of course, 0:04:53.080 --> 0:04:55.599 there's some good cops. Of course, there's some good teachers. 0:04:55.640 --> 0:04:57.760 Of course there's something like. That's not the point. The 0:04:57.800 --> 0:05:01.400 point is that there's a systematic problem of not only racism, 0:05:01.480 --> 0:05:04.520 but police brutality. And the reason why police brutality is 0:05:04.520 --> 0:05:08.760 an issue is because These are people that take an 0:05:08.760 --> 0:05:12.680 oath to serve and protect the community. So if you 0:05:12.839 --> 0:05:15.120 take an oath to serve and protect the community, it's 0:05:15.160 --> 0:05:18.719 not the same as a gang member killing another gang member. Like, 0:05:18.760 --> 0:05:21.120 these people don't take oaths, they're not paid, they don't 0:05:21.120 --> 0:05:23.960 have pensions, so it's not the same. So I don't 0:05:24.000 --> 0:05:28.200 want to hear that we're talking about police brutality. There's 0:05:28.240 --> 0:05:30.560 times and places and talking about all other stuff, but 0:05:30.680 --> 0:05:32.479 right now we're talking about police brutality. 0:05:33.120 --> 0:05:36.600 I spoke on a couple of conversations man and shout 0:05:36.600 --> 0:05:39.520 out to KRS when he had to line, like, what's 0:05:39.520 --> 0:05:42.240 the difference between the overseer and the officer? Right, So 0:05:42.279 --> 0:05:43.920 if we go back to the history of it, like 0:05:43.960 --> 0:05:46.080 we've seen that the overseer was to watch over the 0:05:46.160 --> 0:05:48.840 land and if everyone act out of accordance, they were 0:05:48.920 --> 0:05:52.680 handled at that time. And if we look at it right, 0:05:52.720 --> 0:05:55.599 you said serve and protect. But the officer, especially in 0:05:55.600 --> 0:05:58.840 our communities, has become the overseer. So it's kind of crazy. 0:05:59.040 --> 0:06:02.719 Yeah, So all right, earn Aalsia. We talk about the 0:06:02.720 --> 0:06:05.560 money plays and this is no different than anything else. 0:06:05.600 --> 0:06:07.919 I actually learned a lot of stuff doing research on this. 0:06:08.000 --> 0:06:10.320 That's what I realized too, that we we have become 0:06:10.440 --> 0:06:15.200 journalists and we take our journalistic responsibility very serious. I 0:06:15.200 --> 0:06:18.440 was up till four o'clock in the morning yesterday researching 0:06:19.720 --> 0:06:21.960 and I got excited because I didn't even I'm like, yo, 0:06:22.120 --> 0:06:24.400 I got excited and learning the information, like I hope 0:06:24.400 --> 0:06:28.320 I can relate this in a manager. Yeah, so you know, 0:06:28.440 --> 0:06:31.640 I'm interested to actually, you know, have this conversation. So 0:06:32.520 --> 0:06:36.680 there's an economic play. There's an economic play behind police brutality. 0:06:36.920 --> 0:06:41.200 There's a huge, huge economic play. So every year, cities 0:06:41.240 --> 0:06:44.320 across the United States of America, small and large, they 0:06:44.360 --> 0:06:47.479 spend millions of dollars in police brutality claims because it's like, 0:06:47.520 --> 0:06:49.640 this isn't calm, this isn't new, right, Like it happens 0:06:49.680 --> 0:06:52.279 all the time, right, even if it's not to this 0:06:52.360 --> 0:06:55.719 extent where somebody gets killed, somebody might get a black eye, 0:06:55.760 --> 0:07:00.240 somebody might break somebody's ribs. Like, yeah, it's a lot 0:07:00.279 --> 0:07:03.640 of police but that's an issue too, but specifically police brutality. 0:07:04.080 --> 0:07:08.880 So police brutality cases, there's millions of police brutality cases 0:07:08.960 --> 0:07:11.520 all over the country every single year. Most of the 0:07:11.600 --> 0:07:17.360 time it's settled with some compensation being paid, and that 0:07:17.400 --> 0:07:20.640 can go from one thousand dollars to one hundred million 0:07:20.680 --> 0:07:24.680 dollars like anywhere in between. Right, it depends. So now 0:07:24.800 --> 0:07:29.360 what people don't fully understand, I think is that there's billions, 0:07:29.520 --> 0:07:34.119 billions of dollars that are paid to victims of police 0:07:34.160 --> 0:07:35.480 brutality every single. 0:07:35.240 --> 0:07:37.720 Year, all the time. Yeah, there was a settlement for 0:07:37.720 --> 0:07:40.680 forty million, this person got twenty five million. Nobody thinks 0:07:40.720 --> 0:07:43.200 about they just hit the number. Nobody thinks about anything else. 0:07:43.200 --> 0:07:44.360 Where's this coming from? Yeah? 0:07:44.440 --> 0:07:47.920 And to create So Chicago in twenty eighteen, one hundred 0:07:47.960 --> 0:07:53.920 and thirteen million dollars was paid to police brutality settlements 0:07:53.920 --> 0:07:57.520 and judgments. One hundred and thirteen million in just the 0:07:57.560 --> 0:08:01.080 city of Chicago in twenty eighteen one year. That's that's amazing. 0:08:01.600 --> 0:08:04.440 So it's like, where does this money come from? So 0:08:04.560 --> 0:08:06.400 this is this is now you start to peel back 0:08:06.440 --> 0:08:08.600 the layers. Because if it's like it's like a movie, 0:08:08.720 --> 0:08:12.080 it's like a movie, like you see the Instagram clips 0:08:12.520 --> 0:08:14.800 and it's like, okay, so now I feel like I'm 0:08:14.800 --> 0:08:17.080 actually a detective. Right, It's like, now you got pill 0:08:17.120 --> 0:08:17.840 back the layers. 0:08:18.120 --> 0:08:21.080 It's weird. Because at times like when you hear these sellments. 0:08:21.120 --> 0:08:25.520 I remember when I'm gonna do the album Dudillo got 0:08:25.560 --> 0:08:26.600 to sell them and it was like yah, it was 0:08:26.600 --> 0:08:28.360 forty million dollars or something of that sort, and it 0:08:28.400 --> 0:08:30.400 was like that felt like a victory. It felt like, 0:08:30.400 --> 0:08:34.120 all right, well, he's been compensated for the abuse that 0:08:34.280 --> 0:08:36.520 he suffered. And then when you look at like, wait, 0:08:36.559 --> 0:08:38.360 where did that money come from? It's like, wait, is 0:08:38.360 --> 0:08:40.480 this really a big should we be celebrating that? 0:08:40.480 --> 0:08:42.680 That's the crazy thing about it. Nobody ever thought about 0:08:42.679 --> 0:08:44.360 where the money comes from. So where does the money 0:08:44.360 --> 0:08:48.040 come from? The money comes from taxpayers, right, So taxpayers. 0:08:48.080 --> 0:08:51.240 So that's another thing about police officers. Police officers are 0:08:51.280 --> 0:08:55.319 public servants. Right, we pay when I say we tax 0:08:55.360 --> 0:08:58.360 paying people of the United States of America pay the 0:08:58.480 --> 0:09:03.000 salaries and the retireronment of the police department. All of 0:09:03.000 --> 0:09:08.880 that comes from tax dollars. So now the taxpayers are 0:09:09.040 --> 0:09:13.560 paying for these payouts. That's the first that's the first 0:09:13.720 --> 0:09:15.840 part that people need to fully understand. 0:09:15.880 --> 0:09:18.520 It's like even before the payout, right, they have no 0:09:18.760 --> 0:09:21.120 So you got to understand that part before you even 0:09:21.160 --> 0:09:23.000 get to the telements. You've had to go through court 0:09:23.040 --> 0:09:26.560 a court case. Right there, there's no financial responsibility on 0:09:26.600 --> 0:09:29.360 the side of an officer during the police brutality case. 0:09:29.640 --> 0:09:34.120 So literally, the taxpayers pay for their trial. So they're 0:09:34.160 --> 0:09:37.120 paying for the lawyers that, they're paying for the judgments, 0:09:37.160 --> 0:09:39.200 and they're paying for the settlements. Like there is nothing 0:09:39.280 --> 0:09:42.680 that they have to do if the actors committed while 0:09:42.679 --> 0:09:43.800 they're on the job. 0:09:43.960 --> 0:09:46.520 Yeah, that's the fact. So now so now the taxpayers 0:09:46.559 --> 0:09:48.680 pay for it. So it's like all right, so now 0:09:48.800 --> 0:09:51.680 now we got deal back, peel back even more layers. 0:09:51.800 --> 0:09:55.800 So now a lot of cities, in towns, they have 0:09:55.920 --> 0:10:00.280 liability policies. So liability it's like insurance pretty much, right, 0:10:00.360 --> 0:10:03.440 So it's like, okay, any other insurance policy, you pay 0:10:03.440 --> 0:10:06.360 a premium. So like let's say you have a ten 0:10:06.440 --> 0:10:10.800 million dollar liability policy, so your premium for that might 0:10:10.880 --> 0:10:15.040 be two hundred and fifty thousand dollars, right, So taxpayers 0:10:15.080 --> 0:10:17.439 are paying the premium because that's where it comes from 0:10:17.440 --> 0:10:19.840 the budget. So taxpayer is paying two hundred and fifty thousand, 0:10:20.240 --> 0:10:23.200 and then a liability company is paying the ten million. 0:10:23.440 --> 0:10:26.160 So it's like okay, if you if you get into 0:10:26.200 --> 0:10:29.520 a situation and you beat up somebody, a cop. You're 0:10:29.520 --> 0:10:32.440 a cop, and you beat up somebody, they sue. Now 0:10:33.440 --> 0:10:36.920 they win. So now a liability company is liable for 0:10:36.960 --> 0:10:41.040 that to pay that, so they pay it. But ultimately 0:10:41.160 --> 0:10:44.400 the taxpayers still paid it in some sort because they 0:10:44.440 --> 0:10:47.559 actually paid the premium for the policy. So but that 0:10:47.600 --> 0:10:52.240 wouldn't that wouldn't be that bad because it's like, all right, 0:10:52.280 --> 0:10:54.640 you're only paying it's still bad because it's like you 0:10:54.920 --> 0:10:59.160 you are committing a crime, you are actually abusing somebody, 0:10:59.200 --> 0:11:01.319 and where even if it's a dollar or ten percent 0:11:01.559 --> 0:11:04.600 of what's being paid, we're still paying for a tax payer. 0:11:05.240 --> 0:11:07.400 But it's like, all right, it's still less. It's not 0:11:07.440 --> 0:11:10.120 like you're paying the whole thing right now you got 0:11:10.120 --> 0:11:12.319 to peel back even one more layers. So it's like, 0:11:12.360 --> 0:11:16.240 all right. What happens is that most of these cities, towns, 0:11:16.280 --> 0:11:18.960 and especially as more and more police brutality cases start 0:11:19.000 --> 0:11:22.719 to be reported, they don't have enough liability because you 0:11:22.760 --> 0:11:25.600 got to think about the liability companies are business as well. 0:11:25.640 --> 0:11:27.600 They're not just going to try to give away money. Yeah, 0:11:27.640 --> 0:11:31.760 it's like they cap it. So now it's like there's 0:11:31.800 --> 0:11:36.120 not enough liability insurance to cover a lot of this, right, So. 0:11:36.080 --> 0:11:36.920 We need more money. 0:11:37.000 --> 0:11:41.520 So now they need more money, additional money in addition 0:11:41.679 --> 0:11:44.840 to the liability. So where does that come from? So 0:11:44.880 --> 0:11:48.480 now they have to issue bonds. They have to have bonds, right. 0:11:48.559 --> 0:11:53.280 So it's like Bethelhem, Pennsylvania, small town in Pennsylvania two 0:11:53.280 --> 0:11:57.520 thousand and four, they settle the wrongful death lawsuit for 0:11:57.600 --> 0:12:02.600 a seven point eight nine million, So five hundred thousand 0:12:02.800 --> 0:12:07.720 came from the insurance, right, seven million, three hundred and 0:12:07.880 --> 0:12:14.400 nine seven point thirty nine million came from bonds. So 0:12:15.280 --> 0:12:19.080 the vast majority of it actually came from bonds. Right. 0:12:19.160 --> 0:12:21.800 So bonds in the sensus like, listen, we're gonna pay 0:12:21.840 --> 0:12:24.560 you back this money over a given amount of time 0:12:24.960 --> 0:12:27.360 with interests, right, So a lot of times it could 0:12:27.400 --> 0:12:29.200 be thirty years, sometimes it could be shorter. So we 0:12:29.280 --> 0:12:32.000 just got to understand that part too. So literally, a 0:12:32.120 --> 0:12:34.200 municipality is saying, listen, we don't have the money, but 0:12:34.240 --> 0:12:36.440 we'll get it back to you. They're gonna raise that 0:12:36.480 --> 0:12:38.840 money from the good people who live in that city. 0:12:39.320 --> 0:12:42.400 So it's like, listen, the people who live in these areas, 0:12:42.400 --> 0:12:44.240 and a lot of times it's over policed areas. So 0:12:44.240 --> 0:12:46.200 when we look at the cities, it's over police areas. 0:12:46.520 --> 0:12:48.600 When they're over policed, there's gonna be more incidents, there's 0:12:48.600 --> 0:12:52.160 gonna be more altercations with law officials. So they already 0:12:52.240 --> 0:12:54.240 know like, all right, well, we're gonna set this budget aside, 0:12:54.320 --> 0:12:56.320 and if we don't have enough, we're gonna get more 0:12:56.360 --> 0:12:57.120 from the taxpayers. 0:12:57.440 --> 0:12:59.800 Yeah, And so what happens, what's going on now is 0:12:59.800 --> 0:13:02.360 that cities across the United States of America are going 0:13:02.400 --> 0:13:05.360 into massive debt because of what they're calling it police 0:13:05.400 --> 0:13:09.920 brutality bonds. That's what they're pretty much dead, police brutality bonds. 0:13:10.160 --> 0:13:12.520 So that's the crazy thing about the financial industry. They 0:13:12.520 --> 0:13:16.720 issue bonds for anything. There was bonds for mortgage backed security, 0:13:16.720 --> 0:13:21.480 for your home's bonds, for anything that you really get creative, 0:13:21.480 --> 0:13:23.240 you can issue a bond. So now they actually have 0:13:23.400 --> 0:13:27.000 police brutality bonds. Right. So between two thousand and eight 0:13:27.320 --> 0:13:31.840 and twenty and seventeen, we did some research, LA seventy 0:13:31.880 --> 0:13:37.520 four million dollars was paid in police brutality bonds. The 0:13:37.559 --> 0:13:42.160 insurance the interest on that was eighteen million. To the 0:13:43.200 --> 0:13:48.240 holders of the bond and taxpayers it cost them eighty 0:13:48.320 --> 0:13:50.560 nine million. So let me just I just wanted for 0:13:50.559 --> 0:13:54.320 people to understand that. So, all right, LA didn't have 0:13:54.480 --> 0:13:56.760 enough to pay police brutality cases. 0:13:57.040 --> 0:13:59.000 So those are the judgments and settlements, right. 0:13:59.040 --> 0:14:01.800 So over and above what they already have in their 0:14:01.840 --> 0:14:04.600 budget are over and above the liabillion ran. 0:14:04.520 --> 0:14:07.080 That's the scary part too, like we are ready of saying, listen, 0:14:07.200 --> 0:14:08.640 we have a budget for it. Let's keep going. 0:14:08.800 --> 0:14:11.679 Yeah, So now they have to go to the financial 0:14:11.720 --> 0:14:17.480 markets and issue bonds worth seventy one million dollars, right, 0:14:17.760 --> 0:14:20.440 So they take out bonds for seventy one million dollars 0:14:20.480 --> 0:14:22.360 to pay this Because if you know what a bond is, 0:14:22.400 --> 0:14:26.960 it's like it's your somebody's loaning you money. For them 0:14:27.040 --> 0:14:29.360 loaning you money, you're paying it back over a court 0:14:29.400 --> 0:14:33.840 of time. But it's with interest. So now the people 0:14:33.920 --> 0:14:36.880 that loaned them the money, people that loaned them seventy 0:14:36.920 --> 0:14:40.600 one million dollars, they got paid an interest of eighteen million. 0:14:40.960 --> 0:14:42.440 We're going to talk about who they are too, and 0:14:42.520 --> 0:14:43.440 it's said. 0:14:43.400 --> 0:14:46.280 They So they made money, they made eighteen The people 0:14:46.320 --> 0:14:49.640 that issued the bonds made eighteen million dollars on the bonds. 0:14:50.520 --> 0:14:53.720 The taxpayers ended up paying for the whole thing because 0:14:53.720 --> 0:14:57.320 you have to pay for the bond and the interest. 0:14:57.720 --> 0:15:00.240 So the taxpayers ended up paying eighty nine million. 0:15:00.040 --> 0:15:02.440 Right, So you got to sell the bond money, which 0:15:02.480 --> 0:15:04.120 is the seventy one if we're talking about LA and 0:15:04.120 --> 0:15:05.520 then you talk about the interest pays. So you can 0:15:05.560 --> 0:15:07.600 buy those two and that's what the bill is for 0:15:07.640 --> 0:15:08.560 the tax pay yep. 0:15:08.720 --> 0:15:11.880 Milwaukee during that same time, twenty six million in bonds, 0:15:12.240 --> 0:15:15.080 uh three point seven million dollars in interest. The taxpayers 0:15:15.120 --> 0:15:18.680 paid twenty nine million. Chicago, Chicago. I don't know what's 0:15:18.680 --> 0:15:19.480 going on in Chicago. 0:15:19.480 --> 0:15:22.800 Well, Chicago had a lot of high profile cases. One 0:15:22.840 --> 0:15:24.480 that comes to mind, and we're gonna talk about a 0:15:24.520 --> 0:15:27.840 duration of time, So from like twy ten to twenty eighteen, 0:15:28.240 --> 0:15:31.040 we're talking to almost a billion dollars paid. They had 0:15:31.040 --> 0:15:34.160 the Lakwi McDonald case where the young black kid was 0:15:34.200 --> 0:15:38.200 shot sixteen times and I believe the office's name was 0:15:38.280 --> 0:15:40.400 Van Dyk or something like that got sent us to 0:15:40.440 --> 0:15:42.720 six years. There was a settlement in that case. So 0:15:42.760 --> 0:15:44.880 you got a couple of cases in Chicago that happened 0:15:44.960 --> 0:15:48.440 from twenty to ten to twenty seventeen. They had seven 0:15:48.520 --> 0:15:51.760 hundred and nine million in bonds seven hundred and nine million. 0:15:52.240 --> 0:15:55.040 The interest paid on those on those bonds was one 0:15:55.280 --> 0:15:59.160 billion dollars with a B so the taxpayers get the 0:15:59.200 --> 0:16:03.200 bill for one point seven There's a crazy part. There 0:16:03.240 --> 0:16:05.440 was this quote. I was like, yo, that is it. 0:16:05.920 --> 0:16:07.800 I was reading. It was like they said, this is 0:16:07.840 --> 0:16:10.720 like the equivalent of paying your rent with a credit card. 0:16:11.720 --> 0:16:14.320 Like it's a temporary solution, but the root of the 0:16:14.360 --> 0:16:16.600 problem is you don't have enough money to pay your bills. Yeah, 0:16:16.880 --> 0:16:19.040 you know what I'm saying. Think about that, And that's crazy. 0:16:19.040 --> 0:16:20.680 I mean because if you look at it, like Milwaukee 0:16:20.800 --> 0:16:23.560 paid three million, three million interest on twenty six million 0:16:23.520 --> 0:16:26.560 dollars bond, La paid eighteen million on a seventy one 0:16:26.600 --> 0:16:30.640 million dollars bond, they're small. The interest is smaller than 0:16:30.760 --> 0:16:33.760 the amount of money that they borrowed. Chicago actually paid 0:16:33.800 --> 0:16:36.720 more interest than what they So not only are they 0:16:36.720 --> 0:16:39.920 issuing bonds, they issuing high interests like credit card, like 0:16:40.120 --> 0:16:42.320 thirty five percent or something like that must be crazy 0:16:42.360 --> 0:16:44.800 that they paid one billion dollars of interest and they 0:16:44.880 --> 0:16:48.040 only borrowed seven hundred and nine million, and the tax 0:16:48.040 --> 0:16:50.000 payers pay for all of that tax paid pay for 0:16:50.080 --> 0:16:53.960 one point seven billion. So this is something that's so 0:16:54.080 --> 0:16:58.880 crazy because it's like, you're paying for police brutality. You are, yeah, 0:16:59.080 --> 0:17:02.440 And this is something, like I said, whether you are black, white, 0:17:02.520 --> 0:17:05.440 whether you are affluent, whatever, this is something that everybody 0:17:05.440 --> 0:17:09.080 should be concerned about because from an economic standpoint, why 0:17:09.119 --> 0:17:12.359 do you want to pay for road cops? Why do 0:17:12.359 --> 0:17:14.440 you want to pay for that? You're you're not only 0:17:14.480 --> 0:17:16.320 paying for it, but you're paying for the interest as well. 0:17:16.400 --> 0:17:20.240 Yeah so all right, so now that's that's the third layer. 0:17:20.320 --> 0:17:23.240 But here's where it gets really spicy. It's like, all right, 0:17:24.000 --> 0:17:27.360 so we're talking about bonds and day, so who's day? Right? 0:17:28.119 --> 0:17:34.560 So it turns out that large banks, investment firms, ball 0:17:34.640 --> 0:17:39.240 Street investment firms, small regional banks all play a part 0:17:39.240 --> 0:17:42.439 in issuing these bonds. Some well known companies that have 0:17:42.520 --> 0:17:45.800 played a part, Wells Fargo, Goldman, Sachs, Bank of America. 0:17:45.680 --> 0:17:46.480 Bank of Montreal. 0:17:47.560 --> 0:17:54.960 So they issue police brutality bonds to town cities, municipalities. 0:17:56.560 --> 0:18:01.760 The cities pay them over the court sometime to loan 0:18:01.800 --> 0:18:05.760 them money so they can pay victims, and they actually 0:18:05.800 --> 0:18:09.240 are making money. So these companies are making money off 0:18:09.240 --> 0:18:12.359 of police brutality because they're getting paid interest on the bonds. 0:18:12.400 --> 0:18:13.920 And there's a lot of fees that go into doing 0:18:13.960 --> 0:18:15.840 these bonds. Right, So, like we said that there's an 0:18:15.880 --> 0:18:18.280 underwriter fees that the banks are going to collect the 0:18:18.280 --> 0:18:20.280 money on that every time they issue them, so they're 0:18:20.280 --> 0:18:21.960 going to every time that there's a case that is 0:18:22.000 --> 0:18:25.080 a settlement, there's underwriting fees, the bank gets paid. 0:18:25.240 --> 0:18:27.800 So not only do you have the first layer that's 0:18:27.840 --> 0:18:31.520 making money is insurance companies for the liability claims because 0:18:31.520 --> 0:18:35.320 insurance companies always make money, there's no way around it, 0:18:35.400 --> 0:18:38.480 Like that's how insurance companies operate, right, So now you're 0:18:38.520 --> 0:18:43.560 paying insurance premiums. So insurance, there's insurance policies and place 0:18:43.600 --> 0:18:46.560 for police brutality, they make money. But even bigger than that, 0:18:46.680 --> 0:18:49.479 now you have financial institutions that are making money off 0:18:49.520 --> 0:18:54.480 police brutality bonds off the interest. So okay, now we 0:18:54.600 --> 0:18:56.960 have to look at now it makes more sense why 0:18:57.000 --> 0:18:59.160 nothing has changed in the last fifty years, if anything 0:18:59.200 --> 0:19:02.479 has gotten worse, right, because there's no incentive for it 0:19:02.520 --> 0:19:06.200 to stop. Not only do the police do not pay themselves, 0:19:06.280 --> 0:19:09.280 they have no financial responsibility for it at all. So 0:19:09.280 --> 0:19:10.080 that's one thing. 0:19:10.040 --> 0:19:11.760 Like that's crazy. 0:19:11.880 --> 0:19:15.960 The insurance companies is actually making money on it, and 0:19:16.600 --> 0:19:20.800 now banks and financial institutions aren't making money on it. 0:19:21.240 --> 0:19:24.680 So if there's if there's if nobody's losing money as 0:19:24.680 --> 0:19:28.919 far as the cops and people are making millions and 0:19:29.000 --> 0:19:33.440 billions of dollars, why would there ever be a real 0:19:33.560 --> 0:19:36.960 incentive to change police brutality? 0:19:37.040 --> 0:19:39.080 And then all that, right, if this was chess, right, 0:19:39.200 --> 0:19:41.600 if we said that those are all the players, we 0:19:41.680 --> 0:19:43.480 got to figure out where are we at on that 0:19:43.560 --> 0:19:44.840 chess board? 0:19:45.119 --> 0:19:48.199 Just pawns getting moved around. That's the reality of it, 0:19:48.240 --> 0:19:52.080 and most people don't realize it. So it's like all right, okay, okay. 0:19:52.280 --> 0:19:54.560 So and there's different ways how cities use it, Like 0:19:54.600 --> 0:19:57.080 some cities use bonds as like part of their budgets. 0:19:57.119 --> 0:19:59.439 Some cities use it as an emergency option. Some cities 0:19:59.560 --> 0:20:02.920 use it after the liability insurance content, but they're still 0:20:02.920 --> 0:20:05.560 getting used. Right, So it's like whole economic strit And 0:20:05.600 --> 0:20:09.480 this is what we're talking about politics, and this is 0:20:09.520 --> 0:20:11.320 something that people need to be aware of. So it's 0:20:11.359 --> 0:20:14.320 like we're not just going to give you the problem. 0:20:14.520 --> 0:20:17.760 Hopefully people. Somebody's listening to a bunch of people are 0:20:17.760 --> 0:20:20.760 listening and the community's listening, and you never know what 0:20:20.800 --> 0:20:22.720 somebody can do with the information. Right. So now it's 0:20:22.760 --> 0:20:26.040 like how I see it when we're talking about were 0:20:26.040 --> 0:20:29.320 in a political season, right and you're asking these politicians, 0:20:29.359 --> 0:20:33.040 You demanding these politicians for these things, right, But a 0:20:33.080 --> 0:20:35.000 lot of times you're asking them and you demanded them 0:20:35.040 --> 0:20:37.880 for wrong things. You asking them to put body cameras 0:20:37.920 --> 0:20:39.520