1 00:00:00,720 --> 00:00:03,640 Speaker 1: Hey, guys, ready or not, twenty twenty four is here 2 00:00:03,800 --> 00:00:06,280 Speaker 1: and we here at breaking points, are already thinking of 3 00:00:06,320 --> 00:00:08,559 Speaker 1: ways we can up our game for this critical election. 4 00:00:08,760 --> 00:00:11,680 Speaker 1: We rely on our premium subs to expand coverage, upgrade 5 00:00:11,680 --> 00:00:15,080 Speaker 1: the studio ad staff give you, guys, the best independent 6 00:00:15,120 --> 00:00:17,400 Speaker 1: coverage that is possible. If you like what we're all about, 7 00:00:17,640 --> 00:00:20,040 Speaker 1: it just means the absolute world to have your support. 8 00:00:20,120 --> 00:00:22,720 Speaker 1: But enough with that, let's get to the show. So 9 00:00:22,840 --> 00:00:26,079 Speaker 1: John Stewart had Mark Cuban on to talk to him 10 00:00:26,120 --> 00:00:28,840 Speaker 1: about the Silicon Valley bailout. Mark Cuban is more or 11 00:00:28,920 --> 00:00:31,280 Speaker 1: less in favor. John Stuart had some questions. Let's take 12 00:00:31,280 --> 00:00:34,520 Speaker 1: a listen. So it's not like there was this big 13 00:00:34,680 --> 00:00:38,199 Speaker 1: saving or you know, we've bailed out the shareholders and 14 00:00:38,600 --> 00:00:41,920 Speaker 1: all the tech bros came out. Okay, they got Rush, 15 00:00:42,600 --> 00:00:47,080 Speaker 1: they got Rush. Well, I think that's a little missing. 16 00:00:48,800 --> 00:00:51,720 Speaker 1: This is not These are not average depositors. So the 17 00:00:51,760 --> 00:00:54,000 Speaker 1: people that are going to be getting their money back 18 00:00:55,280 --> 00:00:58,200 Speaker 1: because it's now fully guaranteed by the United States, there 19 00:00:58,200 --> 00:01:00,840 Speaker 1: are people there that had hundreds of millions of dollars. 20 00:01:00,880 --> 00:01:02,920 Speaker 1: I mean, you've got Roku that had I don't know 21 00:01:03,000 --> 00:01:06,040 Speaker 1: five hundred million dollars in there. These are not uh 22 00:01:06,440 --> 00:01:09,720 Speaker 1: mom and pop investors and mom and pop depositors that 23 00:01:09,959 --> 00:01:11,679 Speaker 1: put in a little bit of money saving it for 24 00:01:11,680 --> 00:01:15,119 Speaker 1: a rainy day, Like, uh, there are a ton of people. 25 00:01:15,120 --> 00:01:17,280 Speaker 1: This is like when you read about those PPP loans 26 00:01:17,520 --> 00:01:20,399 Speaker 1: that people would get that would say, our business. Uh, 27 00:01:20,440 --> 00:01:22,280 Speaker 1: you know, I have a billion dollar business and I 28 00:01:22,319 --> 00:01:26,160 Speaker 1: got a you know, three hundred million dollar PPP bailout. 29 00:01:26,520 --> 00:01:31,400 Speaker 1: Like I'm not as concerned about all the sharehold but 30 00:01:31,440 --> 00:01:33,959 Speaker 1: it is bigger than that. Yeah, the share Okay, the 31 00:01:33,959 --> 00:01:39,400 Speaker 1: shareholders are different. But the depositors right there are deposits. 32 00:01:39,560 --> 00:01:42,959 Speaker 1: Would they were giant. This wasn't a bunch of mom plause. Yeah, 33 00:01:42,959 --> 00:01:45,520 Speaker 1: that's what I'm trying to get at. After that, actually 34 00:01:45,560 --> 00:01:48,680 Speaker 1: Mark cubans, his line drops and so they're not really 35 00:01:48,720 --> 00:01:51,000 Speaker 1: allowed to continue the conversation. And by the way, that 36 00:01:51,160 --> 00:01:54,360 Speaker 1: was former FDIC chair Shila bhar who has been critical 37 00:01:54,400 --> 00:01:56,240 Speaker 1: of the bail out there. But I think he really 38 00:01:56,320 --> 00:01:59,600 Speaker 1: raises a key point Sager about the difference between the 39 00:01:59,680 --> 00:02:01,800 Speaker 1: way that people in Silicon Valley are trying to portray 40 00:02:01,840 --> 00:02:03,800 Speaker 1: this in the way President Biden is trying to portray 41 00:02:03,800 --> 00:02:05,640 Speaker 1: this as all, this is about the little guy, It's 42 00:02:05,680 --> 00:02:09,240 Speaker 1: about these mom and pop small businesses, when in reality, 43 00:02:09,800 --> 00:02:12,960 Speaker 1: inherently in what you did, even just focusing on the depositors, 44 00:02:12,960 --> 00:02:14,760 Speaker 1: these are all people who had more than two hundred 45 00:02:14,760 --> 00:02:18,040 Speaker 1: and fifty thousand dollars in their bank accounts. Yeah, I mean, 46 00:02:18,120 --> 00:02:20,880 Speaker 1: the Roku example is really the perfect one. And also 47 00:02:21,120 --> 00:02:23,640 Speaker 1: I mean I think they keep coming back to this 48 00:02:23,840 --> 00:02:26,320 Speaker 1: canard where they're like, well, the Silicon Valley bank holders 49 00:02:26,360 --> 00:02:28,600 Speaker 1: got wiped out, so it's not a bailout. Our friend 50 00:02:28,639 --> 00:02:31,600 Speaker 1: Joe Eisenthal over at Bloomberg wrote a great explainer where 51 00:02:31,880 --> 00:02:35,080 Speaker 1: guys in the two thousand and eight bailouts bear Stearns 52 00:02:35,560 --> 00:02:39,959 Speaker 1: shareholders also City Group and others lost over ninety some 53 00:02:40,160 --> 00:02:44,160 Speaker 1: percent of their value. They effectively also the shareholders lost 54 00:02:44,160 --> 00:02:47,200 Speaker 1: their money. Does that not still make it a bailout? 55 00:02:47,520 --> 00:02:51,520 Speaker 1: So just because shareholders aren't made one hundred percent hole 56 00:02:51,800 --> 00:02:54,560 Speaker 1: and even when they do lose value, that does not 57 00:02:54,760 --> 00:02:57,919 Speaker 1: mean that it is not a bailout. By definition, it 58 00:02:57,960 --> 00:03:00,280 Speaker 1: is and so then on that grounds we have to 59 00:03:00,280 --> 00:03:02,520 Speaker 1: debate whether it was worth it or not. And I 60 00:03:02,520 --> 00:03:04,960 Speaker 1: think that's exactly the issue is that they are trying 61 00:03:05,000 --> 00:03:08,079 Speaker 1: to present this in a false pretense where it was 62 00:03:08,120 --> 00:03:11,440 Speaker 1: a super super special situation just trust us when the 63 00:03:11,480 --> 00:03:14,799 Speaker 1: normal FDIC process would have worked perfectly fine for most 64 00:03:14,840 --> 00:03:17,680 Speaker 1: of the customers in this bank. Yeah, I mean, listen. 65 00:03:17,800 --> 00:03:21,000 Speaker 1: I think there is a reasonable argument to be made 66 00:03:21,000 --> 00:03:23,359 Speaker 1: about maybe this would have caused contagion, maybe there would 67 00:03:23,400 --> 00:03:26,360 Speaker 1: have been a bank run, et cetera. But they're asking 68 00:03:26,440 --> 00:03:28,839 Speaker 1: us to take that on faith. I want to see 69 00:03:28,880 --> 00:03:31,520 Speaker 1: the data that shows people are starting to pull their funds. 70 00:03:31,560 --> 00:03:34,480 Speaker 1: I want to see the amounts that were involved here 71 00:03:34,520 --> 00:03:36,760 Speaker 1: and whether there was a real risk of contagion or 72 00:03:36,800 --> 00:03:38,960 Speaker 1: whether you just had a lot of people who were 73 00:03:39,000 --> 00:03:42,520 Speaker 1: worried about you know, their own investments having you know, 74 00:03:42,680 --> 00:03:45,560 Speaker 1: having to take a haircut. Because the WAVES has been 75 00:03:45,800 --> 00:03:47,560 Speaker 1: sold to the American people, and this is what really 76 00:03:47,600 --> 00:03:50,400 Speaker 1: bothers me. The Waves has been sold to the American 77 00:03:50,400 --> 00:03:54,360 Speaker 1: people is incredibly misleading that it's not a bailout, no 78 00:03:54,440 --> 00:03:57,680 Speaker 1: taxpayer funds at risk, it's just about mom and pop businesses. 79 00:03:58,040 --> 00:04:01,840 Speaker 1: It's just not true. Even if you put Silicon Valley 80 00:04:01,880 --> 00:04:05,480 Speaker 1: Bank aside, the fact that you've created this new lending 81 00:04:05,560 --> 00:04:09,000 Speaker 1: facility for all banks to take advantage of and created 82 00:04:09,040 --> 00:04:12,200 Speaker 1: magical accounting tricks they're allowed to use to basically, you know, 83 00:04:12,280 --> 00:04:15,480 Speaker 1: avoid recognizing that their assets on their balance sheet have 84 00:04:15,520 --> 00:04:18,720 Speaker 1: lost billions of dollars in value. That is a bailout. 85 00:04:18,880 --> 00:04:21,480 Speaker 1: That's a bailout of banks that may have had trouble 86 00:04:21,800 --> 00:04:23,919 Speaker 1: and bank managers who may have had trouble, and the 87 00:04:23,920 --> 00:04:29,400 Speaker 1: shareholders of those banks huge tremendous value provided to them. 88 00:04:29,720 --> 00:04:32,679 Speaker 1: So don't gaslight us that it wasn't a bailout. Don't 89 00:04:32,720 --> 00:04:35,960 Speaker 1: gas light us that inherently what you have done is 90 00:04:36,000 --> 00:04:39,080 Speaker 1: backstop all deposits over two hundred fifty thousand dollars, everybody 91 00:04:39,080 --> 00:04:40,920 Speaker 1: who's less than two hundred and fifty thousand dollars, which, 92 00:04:40,920 --> 00:04:44,040 Speaker 1: by the way, the mean bank account in America has 93 00:04:44,080 --> 00:04:46,920 Speaker 1: fifty three hundred dollars in it, fifty three hundred, So 94 00:04:47,120 --> 00:04:51,800 Speaker 1: this is like clearly definitionally, you are just helping people 95 00:04:51,839 --> 00:04:53,520 Speaker 1: who have more than two hundred and fifty k in 96 00:04:53,600 --> 00:04:58,080 Speaker 1: the bank, which is a very exclusive and privileged club. Yes, 97 00:04:58,520 --> 00:05:01,080 Speaker 1: you know, it's it's just the mean bank account maybe 98 00:05:01,120 --> 00:05:03,160 Speaker 1: five thousand, but the mean bank account of those people 99 00:05:03,160 --> 00:05:05,039 Speaker 1: who matter is going to be like five hundred thousand. 100 00:05:05,120 --> 00:05:07,599 Speaker 1: So those are the ones who's the actual banking system 101 00:05:07,640 --> 00:05:10,520 Speaker 1: works for You can't make it up, but there it is. Indeed, 102 00:05:10,640 --> 00:05:14,960 Speaker 1: great exchange from John Stewart, very concerning update coming out 103 00:05:15,080 --> 00:05:17,080 Speaker 1: of East Palestine. Let's go ahead and put this up 104 00:05:17,080 --> 00:05:19,160 Speaker 1: on the screen. This is from our friend Rich McHugh, 105 00:05:19,279 --> 00:05:22,719 Speaker 1: fantastic investigative journalists who's now with News Nation. They say 106 00:05:22,800 --> 00:05:28,840 Speaker 1: new independent test detected carcinogens in the water in East Palestine, Ohio. That's, 107 00:05:28,839 --> 00:05:31,360 Speaker 1: of course the site of that toxic trage railment. Back 108 00:05:31,400 --> 00:05:35,360 Speaker 1: in February, Rich mcche spoke with Big punk Pine consultants 109 00:05:35,440 --> 00:05:38,240 Speaker 1: Justin Johnson about the concerning results. Let's go ahead and 110 00:05:38,279 --> 00:05:40,719 Speaker 1: take a listen to a little bit of that. And 111 00:05:40,880 --> 00:05:44,280 Speaker 1: I spoke with one environmental scientist earlier today shared those 112 00:05:44,320 --> 00:05:48,320 Speaker 1: results with me and the results are not pretty on 113 00:05:48,360 --> 00:05:51,760 Speaker 1: the ground today in East Palestine. We found percinogens in 114 00:05:51,800 --> 00:05:55,719 Speaker 1: the water. We found carsent egens that Ohio EPA is 115 00:05:55,760 --> 00:06:00,839 Speaker 1: not not finding. Shocking findings from an independent burn mental group. 116 00:06:01,000 --> 00:06:03,440 Speaker 1: Is it safe to find these levels of carcinogens in 117 00:06:03,440 --> 00:06:07,680 Speaker 1: the water. There is no level of carscinogen that is safe. 118 00:06:07,960 --> 00:06:12,080 Speaker 1: So remember Sager. Why this is so significant is because 119 00:06:12,240 --> 00:06:15,080 Speaker 1: most of the results that have been offered as proof 120 00:06:15,120 --> 00:06:17,640 Speaker 1: to residents that hey, the air is good, the water's good, 121 00:06:17,680 --> 00:06:20,200 Speaker 1: the soils, it's all good. You can come home, there's 122 00:06:20,240 --> 00:06:24,960 Speaker 1: no problems. Has actually been conducted by consultants hired by 123 00:06:25,000 --> 00:06:28,919 Speaker 1: Norfolk Southern, the very railway that has the greatest possible 124 00:06:28,960 --> 00:06:31,240 Speaker 1: interest in covering this whole thing up. So when you 125 00:06:31,320 --> 00:06:35,200 Speaker 1: actually had independent experts come in and do their own tests, 126 00:06:35,200 --> 00:06:37,880 Speaker 1: they're like, hey, guys, this is not safe. There is 127 00:06:38,040 --> 00:06:41,560 Speaker 1: no level of carcinogens in the water for people that 128 00:06:41,760 --> 00:06:44,360 Speaker 1: is safe. And it's also really troubling because this isn't 129 00:06:44,400 --> 00:06:46,040 Speaker 1: the sort of thing that's going to show up as 130 00:06:46,040 --> 00:06:48,280 Speaker 1: a problem right now. It's going to be ten years 131 00:06:48,320 --> 00:06:51,000 Speaker 1: down the road when you start having a cancer cluster 132 00:06:51,400 --> 00:06:53,760 Speaker 1: in this area, when all the cameras and all the 133 00:06:53,800 --> 00:06:55,919 Speaker 1: focus and all the attention and even the memory of 134 00:06:55,960 --> 00:06:58,840 Speaker 1: this has all disappeared. That's when this is going to 135 00:06:58,880 --> 00:07:02,960 Speaker 1: be a crisis. Where's the EPA, Where's the federal government? 136 00:07:03,600 --> 00:07:06,719 Speaker 1: They're too busy in with Silicon Valley Banker with Ukraine. 137 00:07:06,880 --> 00:07:10,480 Speaker 1: And that's the mainor major meta takeaway from all of this. 138 00:07:10,600 --> 00:07:13,040 Speaker 1: Why are private groups, even the ones who are doing 139 00:07:13,040 --> 00:07:16,200 Speaker 1: any of this, we should be getting consistent reporting from 140 00:07:16,320 --> 00:07:19,560 Speaker 1: the EPA, from the FEDS that is checking what Norfolk 141 00:07:19,600 --> 00:07:21,520 Speaker 1: Southern is doing as well. And of course this is 142 00:07:21,520 --> 00:07:23,360 Speaker 1: the greatest thing that could ever happen to them. They 143 00:07:23,360 --> 00:07:25,160 Speaker 1: want the story to fade. They want to pay as 144 00:07:25,200 --> 00:07:28,760 Speaker 1: minimal as possible, if anything at all. Who knows right 145 00:07:28,800 --> 00:07:31,160 Speaker 1: now where the Railway Safety Act is going to go 146 00:07:31,280 --> 00:07:34,680 Speaker 1: inside of Congress. So everything is currently going very much 147 00:07:34,840 --> 00:07:36,960 Speaker 1: to their benefit. The only people whose benefit is not 148 00:07:37,080 --> 00:07:39,960 Speaker 1: are the people who actually live in Ease Palasine, Ohio. Yeah, 149 00:07:40,120 --> 00:07:42,520 Speaker 1: that's exactly right now. I mean, from the stories we've 150 00:07:42,560 --> 00:07:44,840 Speaker 1: been covering lately, you really see who the federal government 151 00:07:44,920 --> 00:07:47,200 Speaker 1: moves having on Earth for and who I mean. Joe 152 00:07:47,240 --> 00:07:50,000 Speaker 1: Biden still hasn't visited, even though he said he would, 153 00:07:50,480 --> 00:07:53,920 Speaker 1: which is disgusting and disgraceful in and of itself, but 154 00:07:54,120 --> 00:07:58,840 Speaker 1: more importantly, the lack of basic answers and any type 155 00:07:58,840 --> 00:08:02,800 Speaker 1: of attempt to make these people it's truly truly unforgivable 156 00:08:02,920 --> 00:08:07,720 Speaker 1: and not something we are ever going to forget. Pink 157 00:08:07,720 --> 00:08:11,679 Speaker 1: Floyd's Roger Waters actually just had a concert canceled in 158 00:08:11,920 --> 00:08:15,800 Speaker 1: Germany because of his views with regards to Israel. Friend 159 00:08:15,800 --> 00:08:17,640 Speaker 1: of the show. Katie Helper, who's host of The Katie 160 00:08:17,640 --> 00:08:20,480 Speaker 1: Helper Show and co host of the Useful Idiots podcast, 161 00:08:20,480 --> 00:08:22,360 Speaker 1: has been shining a light on exactly what is going 162 00:08:22,360 --> 00:08:24,280 Speaker 1: on here, and she joins us now, great to see Katie. 163 00:08:24,280 --> 00:08:27,360 Speaker 1: Here's z Katy. Thanks, thanks so much for having me. Yeah. 164 00:08:27,400 --> 00:08:29,920 Speaker 1: Of course, so you wrote a piece on this, Let's 165 00:08:29,920 --> 00:08:31,360 Speaker 1: go ahead and put it up on the screen for 166 00:08:31,480 --> 00:08:36,280 Speaker 1: CounterPunch along with VJ. Prashad. You said, Frankfurt underminds human 167 00:08:36,360 --> 00:08:39,360 Speaker 1: rights by canceling a concert by Roger Waters. Can you 168 00:08:39,400 --> 00:08:43,760 Speaker 1: explain their thinking here and the reality of what Roger 169 00:08:43,800 --> 00:08:47,360 Speaker 1: waters position on Israel is? Sure? So, first of all, 170 00:08:47,360 --> 00:08:49,360 Speaker 1: I just do want to plug the fact that we have, 171 00:08:49,520 --> 00:08:53,319 Speaker 1: based on this story, a very important petition that's calling 172 00:08:53,480 --> 00:08:58,240 Speaker 1: on Germany to uncancel the concert that they canceled, and 173 00:08:58,320 --> 00:09:02,599 Speaker 1: people have signed that, including Susan Srandon and Cornell West, 174 00:09:03,280 --> 00:09:09,920 Speaker 1: Tom Morello just signed, Chomsky, Glenn Greenwald, Gobor Mate, Chris Hedges, 175 00:09:11,720 --> 00:09:15,080 Speaker 1: Peter Gabriel. And the reason that so many of people, 176 00:09:15,160 --> 00:09:19,280 Speaker 1: literally thousands have signed is including artists and intellectuals and 177 00:09:19,400 --> 00:09:23,960 Speaker 1: musicians and filmmakers, is because this is an issue of 178 00:09:24,120 --> 00:09:26,920 Speaker 1: human rights. It's an issue of artistic freedom. It's an 179 00:09:26,960 --> 00:09:29,760 Speaker 1: issue of free speech. And what this is showing us 180 00:09:29,840 --> 00:09:34,280 Speaker 1: is once again a very dangerous conflation between criticism of 181 00:09:34,400 --> 00:09:37,680 Speaker 1: Israel and anti Semitism, and the suggestion that anyone who 182 00:09:38,120 --> 00:09:42,520 Speaker 1: criticizes Israel or defends the human rights of Palestinians is 183 00:09:42,520 --> 00:09:45,199 Speaker 1: an anti Semi And this of course isn't true. I mean, 184 00:09:45,240 --> 00:09:47,400 Speaker 1: one of the ironies is that right now as we speak, 185 00:09:47,640 --> 00:09:52,000 Speaker 1: thousands of Israelis are pouring into the streets protesting the 186 00:09:52,080 --> 00:09:59,559 Speaker 1: Israeli government legal overhaul and also a violent treatment of 187 00:09:59,600 --> 00:10:02,599 Speaker 1: Palistine Indians. But this is a really dangerous conflation we 188 00:10:02,679 --> 00:10:07,240 Speaker 1: see more and more, and the irony is that in 189 00:10:07,280 --> 00:10:11,120 Speaker 1: itself is anti Semitic because it perpetuates this anti Semitic 190 00:10:11,240 --> 00:10:15,319 Speaker 1: stereotype that all Jews blindly support Israel, that we're all 191 00:10:15,320 --> 00:10:19,120 Speaker 1: a monolith, and that we have this dual loyalty basically, 192 00:10:19,440 --> 00:10:21,600 Speaker 1: and that all we do is support Israel. Now, of course, 193 00:10:21,679 --> 00:10:24,160 Speaker 1: Jews are not a monolith, and many Jews are critical 194 00:10:24,200 --> 00:10:26,760 Speaker 1: of Israel, and some of the loudest critics of Israel 195 00:10:26,800 --> 00:10:30,000 Speaker 1: are Jewish. So this is again just an example of 196 00:10:30,040 --> 00:10:34,440 Speaker 1: this dangerous conflation and dangerous equation of criticism of Israel 197 00:10:34,679 --> 00:10:37,079 Speaker 1: and anti Semitism. And basically what they're saying is that 198 00:10:37,200 --> 00:10:40,040 Speaker 1: Roger Waters, the German government, has actually called them like 199 00:10:40,080 --> 00:10:43,120 Speaker 1: one of the best known anti Semites. And their only 200 00:10:43,160 --> 00:10:47,440 Speaker 1: proof of this is the fact that he supports BDS, boycott, 201 00:10:47,440 --> 00:10:51,760 Speaker 1: divest sanctions, and that he's compared Israel to South Africa. 202 00:10:51,800 --> 00:10:53,839 Speaker 1: And of course, guess who else is compared to Israel 203 00:10:53,840 --> 00:11:00,000 Speaker 1: to South Africa. The un countless human rights organizations which 204 00:11:00,080 --> 00:11:03,360 Speaker 1: have said that Israel is an apartheid state, and we're 205 00:11:03,360 --> 00:11:06,640 Speaker 1: talking about extremely mainstream human rights organizations. I mean, this 206 00:11:06,679 --> 00:11:09,240 Speaker 1: is something Palestinians have been saying for decades. But it's 207 00:11:09,280 --> 00:11:12,679 Speaker 1: so undeniable that you have Human Rights Watch, Amnesty internationally, 208 00:11:12,720 --> 00:11:16,839 Speaker 1: you have Israel's own bethsellem All agreeing that there is 209 00:11:16,880 --> 00:11:19,920 Speaker 1: an apartheid government in Israel. And what people want is 210 00:11:19,920 --> 00:11:23,360 Speaker 1: they want to scare people away from criticizing Israel and 211 00:11:23,400 --> 00:11:27,400 Speaker 1: they want to delegitimize very legitimate criticism of Israel by 212 00:11:27,400 --> 00:11:29,640 Speaker 1: smearing it as anti Semitism. And this is just one 213 00:11:29,679 --> 00:11:32,680 Speaker 1: of the latest examples of this. Another irony, by the way, 214 00:11:32,760 --> 00:11:36,360 Speaker 1: is that Roger Waters's own father literally gave his life 215 00:11:36,400 --> 00:11:38,600 Speaker 1: fighting Nazis. He was killed in World War Two. It's 216 00:11:38,600 --> 00:11:41,160 Speaker 1: actually kind of fascinating. He was a pacifist that you 217 00:11:41,240 --> 00:11:44,760 Speaker 1: have Germans telling Roger Waters, the son of someone who 218 00:11:44,800 --> 00:11:47,440 Speaker 1: is killed in the fight against Nazism, that he's an 219 00:11:47,440 --> 00:11:49,720 Speaker 1: anti Semite. And I think Germany needs to deal with 220 00:11:49,760 --> 00:11:53,400 Speaker 1: its own legacy of anti Semitism instead of basically taking 221 00:11:53,400 --> 00:11:56,800 Speaker 1: it out on Palestinians, which is what they're doing. So, Okatie, 222 00:11:57,520 --> 00:12:00,360 Speaker 1: what was the specific reason that the Germans side And 223 00:12:00,440 --> 00:12:02,559 Speaker 1: was it the German government or was it the venue? 224 00:12:03,120 --> 00:12:06,040 Speaker 1: It was the government, That's what makes it especially scary. Yeah, 225 00:12:06,080 --> 00:12:10,360 Speaker 1: so it was the Frankfurt City Council and the Hessian 226 00:12:10,480 --> 00:12:14,439 Speaker 1: state government. And their reason was that they want to 227 00:12:14,480 --> 00:12:17,560 Speaker 1: set a clear signal against anti Semitism, and they described 228 00:12:17,600 --> 00:12:20,200 Speaker 1: Waters as one of the most widely spread anti Semites 229 00:12:20,240 --> 00:12:22,520 Speaker 1: in the world. And again their only evidence was that 230 00:12:22,559 --> 00:12:26,760 Speaker 1: he had critiqued called for boycott to have sanction, which 231 00:12:26,760 --> 00:12:32,760 Speaker 1: is this non violent BDS movement that calls for a 232 00:12:32,800 --> 00:12:36,319 Speaker 1: boycott and a divestment and a sanctioning of Israel and 233 00:12:36,559 --> 00:12:41,280 Speaker 1: also has called out the existence of apartheid. And you know, 234 00:12:41,600 --> 00:12:44,240 Speaker 1: it's such a bad look. Also, this idea that you 235 00:12:44,280 --> 00:12:47,600 Speaker 1: can't criticize Israel because you're an antisemit. I think people 236 00:12:47,640 --> 00:12:49,760 Speaker 1: are seeing through it more and more. And you know, 237 00:12:49,800 --> 00:12:54,200 Speaker 1: another interesting example is that you have not just Roger Waters, 238 00:12:54,240 --> 00:12:56,880 Speaker 1: but you actually have Jews who are being targeted by this. 239 00:12:57,160 --> 00:13:00,640 Speaker 1: There's another artist in Germany named Adam Boomberg who's a photographer. 240 00:13:02,200 --> 00:13:04,679 Speaker 1: Many of his family members were literally wiped out during 241 00:13:04,720 --> 00:13:07,920 Speaker 1: the Holocaust. He's had to show canceled because what's his crime. 242 00:13:07,960 --> 00:13:11,320 Speaker 1: His crime is criticizing Israel and defending the human rights 243 00:13:11,320 --> 00:13:14,520 Speaker 1: of Palestinians. And now he's had to show canceled. It's 244 00:13:14,600 --> 00:13:17,280 Speaker 1: the gaul, the hutzpah, as we say, but the gaul 245 00:13:17,720 --> 00:13:21,200 Speaker 1: of Germans selling a Jew that he's an anty Simmite? Well, 246 00:13:21,280 --> 00:13:23,440 Speaker 1: where did they get this entitlement from? And this the 247 00:13:23,480 --> 00:13:27,040 Speaker 1: particularly awkward time, one might say, to be leveling this 248 00:13:27,160 --> 00:13:32,679 Speaker 1: criticism because criticism of Israel right now and the reforms 249 00:13:32,760 --> 00:13:35,760 Speaker 1: quote unquote that BBE is trying to make has been 250 00:13:35,920 --> 00:13:41,600 Speaker 1: quite widespread. David Friedman, who was Trump's ambassador to Israel, 251 00:13:41,760 --> 00:13:46,320 Speaker 1: actually criticized Netanyahu over these reforms, and even on the 252 00:13:46,520 --> 00:13:50,319 Speaker 1: point of BDS specifically, you had two hundred and fifty 253 00:13:50,440 --> 00:13:54,160 Speaker 1: US business leaders and politicians warn in an open letter 254 00:13:54,320 --> 00:13:57,160 Speaker 1: that quote, many leaders in the business community will feel 255 00:13:57,200 --> 00:14:00,720 Speaker 1: compelled to reevaluate the reliance on Israel's a strategic destination 256 00:14:00,840 --> 00:14:04,720 Speaker 1: for investment, sourcing talent, building engineering centers, and maintaining intellectual 257 00:14:04,760 --> 00:14:09,160 Speaker 1: property if this push and this direction of the government continues. 258 00:14:09,200 --> 00:14:12,320 Speaker 1: So they're not calling it BDS, but what they are 259 00:14:12,320 --> 00:14:15,040 Speaker 1: implicitly saying here is, hey, we might pull our businesses 260 00:14:15,040 --> 00:14:17,760 Speaker 1: out if you continue in this direction. So even the 261 00:14:17,800 --> 00:14:21,280 Speaker 1: direct criticism of BDS is being undermined by the fact 262 00:14:21,280 --> 00:14:24,320 Speaker 1: that people now are seeing these outrageous actions, and across 263 00:14:24,440 --> 00:14:28,040 Speaker 1: partisan lines, there has been a lot of criticism of 264 00:14:28,080 --> 00:14:31,760 Speaker 1: this government. Yeah, I mean again, it's just it's really embarrassing. 265 00:14:31,760 --> 00:14:35,240 Speaker 1: And you have something very dangerous called the IHR working 266 00:14:35,280 --> 00:14:40,560 Speaker 1: definition of anti Semitism, which once again includes calling calling 267 00:14:40,640 --> 00:14:45,240 Speaker 1: Israel racist, supporting BDS. They include this as a definition 268 00:14:45,240 --> 00:14:48,000 Speaker 1: of antisemitism, and it's really disgusting because we do have 269 00:14:48,040 --> 00:14:52,080 Speaker 1: real antisemitism in this world, and this just cheapens the 270 00:14:52,200 --> 00:14:54,880 Speaker 1: discussion of anti semitism. One things that obviously are not 271 00:14:55,000 --> 00:14:58,680 Speaker 1: anti Semitism are called antisemitism. And I just want to 272 00:14:58,760 --> 00:15:02,000 Speaker 1: quote something that Roger want Or said when I was 273 00:15:02,000 --> 00:15:04,760 Speaker 1: talking to him when putting together this petition which everyone 274 00:15:04,760 --> 00:15:07,360 Speaker 1: can sign it changed dot org. You guys hopefully will 275 00:15:07,360 --> 00:15:10,560 Speaker 1: put a link into it and yeah, we'll do that. Okay, great, 276 00:15:10,560 --> 00:15:12,400 Speaker 1: And you can also find it. It's at the top 277 00:15:12,440 --> 00:15:15,840 Speaker 1: of Katie helper dot com. It's right there. Sorry, I'm 278 00:15:15,880 --> 00:15:18,080 Speaker 1: not that's not self promoting. I just realized right before 279 00:15:18,080 --> 00:15:20,200 Speaker 1: I went on the stories, I didn't have it, okay, So, 280 00:15:20,600 --> 00:15:23,280 Speaker 1: but he said, my platform is simple. It is implementation 281 00:15:23,360 --> 00:15:26,000 Speaker 1: of the nineteen forty eight Universal Declaration of Human Rights 282 00:15:26,040 --> 00:15:28,640 Speaker 1: for all our brothers and sisters between the Jordan River 283 00:15:28,680 --> 00:15:31,760 Speaker 1: and the Sea, which is old. And he says anti 284 00:15:31,760 --> 00:15:34,440 Speaker 1: Semitism is odious and racist, and I condemn it along 285 00:15:34,480 --> 00:15:39,720 Speaker 1: with all forms of racism unreservedly. And actually, what's very 286 00:15:39,720 --> 00:15:42,720 Speaker 1: important to know is that he Roger Waters, just served 287 00:15:42,800 --> 00:15:49,240 Speaker 1: a lawyer's letter that is demanding or attraction from Frankfort's 288 00:15:49,320 --> 00:15:55,400 Speaker 1: council because as he says, as Roger says, my brothers 289 00:15:55,400 --> 00:15:57,680 Speaker 1: and sisters, the Palaestadians have a basic human right not 290 00:15:57,800 --> 00:15:59,720 Speaker 1: to be oppressed, and I have a basic human right, 291 00:15:59,760 --> 00:16:01,520 Speaker 1: and I have a basic human rights to support them 292 00:16:01,520 --> 00:16:04,400 Speaker 1: in the city. Frankfurt has no right to cancel my show. Yeah, 293 00:16:04,480 --> 00:16:07,040 Speaker 1: all said, we'll make sure to put the link to 294 00:16:07,080 --> 00:16:10,440 Speaker 1: the petition in the description. Obviously, there's an issue much 295 00:16:10,480 --> 00:16:13,880 Speaker 1: bigger than Roger Waters. I mean, you yourself have suffered 296 00:16:13,920 --> 00:16:17,840 Speaker 1: consequences for your outspoken support of Palestinian human rights. We've 297 00:16:17,840 --> 00:16:20,120 Speaker 1: had a number of other guests on here as well 298 00:16:20,280 --> 00:16:23,760 Speaker 1: who have suffered political and professional consequences too, So this 299 00:16:23,800 --> 00:16:26,640 Speaker 1: is incredibly important. Issuan, thank you, Katie, thank you, thank 300 00:16:26,720 --> 00:16:28,480 Speaker 1: you so much for of course want to be talking 301 00:16:28,520 --> 00:16:31,240 Speaker 1: about what's happening in Palestinians and not these stories, but 302 00:16:31,320 --> 00:16:33,080 Speaker 1: because of things like this, we have to talk about this, 303 00:16:33,120 --> 00:16:35,320 Speaker 1: and we have to remember that the people who are 304 00:16:35,600 --> 00:16:39,440 Speaker 1: paying with their lives right now are Palestinians, and Israel 305 00:16:39,480 --> 00:16:42,440 Speaker 1: should be criticized and needs to stop doing what it's 306 00:16:42,480 --> 00:16:46,400 Speaker 1: doing because it's unacceptable and it shanda. It's a shanda, 307 00:16:46,520 --> 00:16:48,840 Speaker 1: and that's why Jewish Voice for Peace and lots of 308 00:16:48,840 --> 00:16:52,880 Speaker 1: other Jewish organizations are so critical of Israel. So well, 309 00:16:52,920 --> 00:16:55,080 Speaker 1: said Katie Helper. Great to see you, Thank you so much. 310 00:16:58,160 --> 00:17:01,160 Speaker 1: So there's a story that's been breaking, Alan of Tennessee 311 00:17:01,360 --> 00:17:04,719 Speaker 1: involving the Republican Lieutenant governor that, to be honest with you, 312 00:17:04,800 --> 00:17:06,879 Speaker 1: I don't know that we would normally cover, except this 313 00:17:07,119 --> 00:17:12,320 Speaker 1: is so hilarious and bizarre and I honestly don't even 314 00:17:12,359 --> 00:17:13,879 Speaker 1: know what to make of it at this point that 315 00:17:14,040 --> 00:17:17,520 Speaker 1: we cannot resist bringing you the details. Okay, So Lieutenant 316 00:17:17,520 --> 00:17:21,360 Speaker 1: governor of Tennessee, his name is Randy McNally, Randy and Randy. 317 00:17:21,520 --> 00:17:25,520 Speaker 1: That is relevant. He was caught. I mean, it's not 318 00:17:25,600 --> 00:17:28,440 Speaker 1: even caught. He was publicly doing this. There's a young 319 00:17:28,480 --> 00:17:31,040 Speaker 1: man who many have described as a twink who like 320 00:17:31,080 --> 00:17:33,720 Speaker 1: supposed lots of like racy pictures of himself as you know, 321 00:17:33,800 --> 00:17:37,760 Speaker 1: thirst traps, as people do on Instagram, and the lieutenant governor, 322 00:17:37,840 --> 00:17:41,040 Speaker 1: this like nearly eighty year old man, posted all kinds 323 00:17:41,080 --> 00:17:43,639 Speaker 1: of supportive comments. There was one that was like the 324 00:17:43,680 --> 00:17:47,479 Speaker 1: picture of the dude's ass up close in underwear, and 325 00:17:47,520 --> 00:17:50,800 Speaker 1: he posted a bunch of heart and fire emojis, and 326 00:17:50,840 --> 00:17:56,640 Speaker 1: then he said, Finn, you can always turn every day 327 00:17:56,680 --> 00:17:59,520 Speaker 1: into sunshine and rainbows or something like that. So it 328 00:17:59,560 --> 00:18:03,000 Speaker 1: was all these like weird, like old men type comments 329 00:18:03,040 --> 00:18:07,240 Speaker 1: on this young twenty year old dude's gay dudes thirst traps. Okay, 330 00:18:07,480 --> 00:18:12,680 Speaker 1: So Brandy McNally sat for an interview to explain himself 331 00:18:12,800 --> 00:18:14,560 Speaker 1: and just what the hell he was doing. I mean, 332 00:18:14,560 --> 00:18:17,239 Speaker 1: he's an anti gay politician and there's all kinds of 333 00:18:17,280 --> 00:18:20,040 Speaker 1: like anti trans in particular legislation coming out of legislature, 334 00:18:20,200 --> 00:18:23,480 Speaker 1: legislature in Tennessee. So many are saying the slippeers very hypocritical. 335 00:18:23,760 --> 00:18:27,119 Speaker 1: Here's how he defended himself. Were you trying to help 336 00:18:27,560 --> 00:18:30,479 Speaker 1: this young man in some sort of way? Uh, just 337 00:18:30,640 --> 00:18:33,960 Speaker 1: basically trying to encourage him. There was also this post 338 00:18:33,960 --> 00:18:36,119 Speaker 1: where the man said he was quote not a whore, 339 00:18:36,240 --> 00:18:39,080 Speaker 1: but a wo When is a slut the other is 340 00:18:39,080 --> 00:18:42,480 Speaker 1: a prostitute? Adding I'm the one that gets free weed 341 00:18:42,600 --> 00:18:46,560 Speaker 1: forgiving then a reference to us Sexual Act, and it 342 00:18:46,640 --> 00:18:50,720 Speaker 1: was liked by Lieutenant Governor mcnowell. I don't know that. 343 00:18:51,560 --> 00:18:54,840 Speaker 1: You know a lot of times on people's posts, you 344 00:18:54,920 --> 00:18:57,399 Speaker 1: see the name and you see what they've written, and 345 00:18:57,520 --> 00:19:00,960 Speaker 1: you just press the button that says like, So you 346 00:19:01,000 --> 00:19:04,800 Speaker 1: didn't read that post. I don't recall reading the part 347 00:19:04,880 --> 00:19:10,400 Speaker 1: about the the weed. I know that, but what about 348 00:19:10,440 --> 00:19:15,840 Speaker 1: the prostitute? I mud I might have read that. I 349 00:19:15,880 --> 00:19:19,440 Speaker 1: don't remember. I don't recall yeah, you certainly weren't reading. 350 00:19:20,000 --> 00:19:22,080 Speaker 1: I might have read that part about the prospect, I 351 00:19:22,119 --> 00:19:26,120 Speaker 1: mean the hilarious thing. Okay. So his whole defense, yeah, 352 00:19:26,560 --> 00:19:29,399 Speaker 1: is like I just I engage in social media all 353 00:19:29,400 --> 00:19:32,919 Speaker 1: the time post I try to help people with my post, 354 00:19:33,680 --> 00:19:36,560 Speaker 1: and I guess he's made similar comments on other like, 355 00:19:36,760 --> 00:19:39,960 Speaker 1: you know, similarly unclothed photos of young men. And then 356 00:19:40,040 --> 00:19:42,520 Speaker 1: the other thing he said, which is hilarious is he's like, 357 00:19:43,119 --> 00:19:45,639 Speaker 1: no intention of stopping. Okay, good for you. It's just 358 00:19:45,640 --> 00:19:47,359 Speaker 1: so funny too because he's like, oh maybe if he 359 00:19:47,359 --> 00:19:49,800 Speaker 1: didn't follow him. I just checked my whatever for you 360 00:19:49,960 --> 00:19:54,040 Speaker 1: page on Instagram. It's a bunch of watches, a bunch 361 00:19:54,080 --> 00:19:58,040 Speaker 1: of videos of cats getting screwed with their getting screwed 362 00:19:58,080 --> 00:20:02,240 Speaker 1: with their owners, and then videos of weightlifters eating steaks. 363 00:20:02,560 --> 00:20:04,600 Speaker 1: That's what I got in terms of mine. So that's 364 00:20:04,600 --> 00:20:06,919 Speaker 1: a pretty good example of I guess the content or 365 00:20:06,920 --> 00:20:09,960 Speaker 1: whatever it's only getting suggested into your feed, sir, sir, 366 00:20:10,320 --> 00:20:12,639 Speaker 1: if that's exactly the type of content that you're looking for. 367 00:20:12,720 --> 00:20:15,919 Speaker 1: So let's all be real honest. Now people have interviewed 368 00:20:15,960 --> 00:20:19,600 Speaker 1: this young man who he calls Finn Franklin McClure I 369 00:20:19,600 --> 00:20:21,960 Speaker 1: think is his ney. Yeah, what does he say? He's like, 370 00:20:22,840 --> 00:20:26,359 Speaker 1: they met I guess on Facebook originally, and he just 371 00:20:26,400 --> 00:20:29,720 Speaker 1: felt the posts were like very nice and supportive. He 372 00:20:29,840 --> 00:20:32,280 Speaker 1: claims that they've never met in person, which is the 373 00:20:32,280 --> 00:20:36,560 Speaker 1: same thing that he says. So that's that's what I know. 374 00:20:37,400 --> 00:20:39,960 Speaker 1: Because it's twenty twenty three, I could just be gay. 375 00:20:40,240 --> 00:20:43,040 Speaker 1: Nobody cares. It's but also well, I mean, but that's 376 00:20:43,160 --> 00:20:45,840 Speaker 1: not really true in terms of like the Republican Party 377 00:20:45,880 --> 00:20:50,199 Speaker 1: context in Tennessee. So I don't know. It's it's just 378 00:20:50,720 --> 00:20:53,920 Speaker 1: his defense or lack thereof, is what really has thrown 379 00:20:54,000 --> 00:20:58,160 Speaker 1: me for a loop year. You know. Yeah, I think 380 00:20:58,160 --> 00:21:01,159 Speaker 1: he's a great grandfather. They said, yeah, I want to 381 00:21:01,200 --> 00:21:05,359 Speaker 1: see what the wife has to say about that. Yeah. Yeah, anyway, guys, 382 00:21:05,440 --> 00:21:07,840 Speaker 1: that's what's going on. Funny story. Well, we continue to 383 00:21:07,840 --> 00:21:11,120 Speaker 1: cover the rapid developments and generative AI and we want 384 00:21:11,160 --> 00:21:14,359 Speaker 1: to bring you one of those with integration into Snapchat, 385 00:21:14,400 --> 00:21:16,440 Speaker 1: Tristan Harris, and he's a askin of the Center Few 386 00:21:16,800 --> 00:21:19,800 Speaker 1: for her humane technology. You may remember Tristan from The 387 00:21:19,840 --> 00:21:22,919 Speaker 1: Social Dilemma on Netflix. We're raising awareness about this in 388 00:21:22,920 --> 00:21:26,040 Speaker 1: a post and an experiment actually that they ran on Snapchat, 389 00:21:26,080 --> 00:21:30,000 Speaker 1: which integrated AI into the platform. Just last week, Tristan tweeted, 390 00:21:30,040 --> 00:21:32,760 Speaker 1: the AI race is totally out of control. Here's what 391 00:21:32,800 --> 00:21:35,439 Speaker 1: Snap's AI told Aza when he signed up as a 392 00:21:35,480 --> 00:21:38,080 Speaker 1: thirteen year old girl, how to lie to her parents 393 00:21:38,080 --> 00:21:39,920 Speaker 1: about a trip with a thirty one year old man, 394 00:21:40,080 --> 00:21:42,840 Speaker 1: how to make losing her virginity on her thirteenth birthday 395 00:21:42,920 --> 00:21:46,600 Speaker 1: special with candles and music. And Tristan finished off by saying, 396 00:21:46,640 --> 00:21:49,919 Speaker 1: our kids are not a test lab. Now if you 397 00:21:50,040 --> 00:21:52,560 Speaker 1: go and read his threat on Twitter, you can actually 398 00:21:52,560 --> 00:21:56,639 Speaker 1: see screenshots from the conversation they ran experimentally as a 399 00:21:56,680 --> 00:21:58,920 Speaker 1: thirteen year old girl with the AI that has been 400 00:21:58,960 --> 00:22:03,919 Speaker 1: integrated into Snapchat. Again, these integrations are happening very very quickly. 401 00:22:03,960 --> 00:22:07,000 Speaker 1: How many parents have children on Snapchat who didn't realize 402 00:22:07,080 --> 00:22:10,640 Speaker 1: this feature was rolled out last week and was accessible 403 00:22:11,160 --> 00:22:14,119 Speaker 1: pretty easily. A lot of people probably had no idea 404 00:22:14,200 --> 00:22:15,959 Speaker 1: the other one. We can put this next element up 405 00:22:16,000 --> 00:22:19,080 Speaker 1: on the board just to get this segment all queued up. 406 00:22:19,600 --> 00:22:21,960 Speaker 1: This is a Wired article called how to start an 407 00:22:22,000 --> 00:22:26,120 Speaker 1: AI panic about sessions. The Center for Humane Technology has 408 00:22:26,119 --> 00:22:29,160 Speaker 1: been running around the country. This was talking about one 409 00:22:29,160 --> 00:22:32,040 Speaker 1: in New York. They were at the Pally Center in 410 00:22:32,240 --> 00:22:35,000 Speaker 1: Los Angeles as well. They were here in DC talking 411 00:22:35,040 --> 00:22:40,240 Speaker 1: to people who are in positions of power, and they've 412 00:22:40,240 --> 00:22:43,400 Speaker 1: got the ears of some pretty powerful people, I would say, 413 00:22:44,320 --> 00:22:50,159 Speaker 1: basically raising attention or trying desperately to begging people in 414 00:22:50,200 --> 00:22:53,600 Speaker 1: positions of power to take the rapid advancements in AI seriously, 415 00:22:54,400 --> 00:22:57,200 Speaker 1: to say we might need a pause on the open 416 00:22:57,320 --> 00:23:01,199 Speaker 1: source use of AI because it's training it and it 417 00:23:01,280 --> 00:23:03,720 Speaker 1: is developing so quickly that it is going to outpace 418 00:23:03,760 --> 00:23:06,760 Speaker 1: our ability to regulate, our ability to just simply have 419 00:23:06,800 --> 00:23:10,040 Speaker 1: awareness like parents in the case of Snapchat, your parent, Ryan, 420 00:23:10,520 --> 00:23:13,919 Speaker 1: that would terrify me. It's pretty crazy, nice pretty that's 421 00:23:13,960 --> 00:23:16,240 Speaker 1: pretty insane. And it goes hand in hand with news 422 00:23:16,240 --> 00:23:18,840 Speaker 1: that came out of Verge with their headline was Microsoft 423 00:23:18,880 --> 00:23:21,320 Speaker 1: laysoff team that taught employees how to make AI tools 424 00:23:21,320 --> 00:23:25,320 Speaker 1: responsibly m hm so as part of these layoffs that 425 00:23:25,359 --> 00:23:30,520 Speaker 1: have been rocking the tech industry. Eight Like, we know 426 00:23:30,600 --> 00:23:35,160 Speaker 1: for sure that Microsoft's team got whacked, but you're also 427 00:23:35,520 --> 00:23:38,400 Speaker 1: probably going to have You're probably gonna see the same 428 00:23:38,440 --> 00:23:40,280 Speaker 1: thing at a bunch of other companies as well, because 429 00:23:40,280 --> 00:23:42,919 Speaker 1: when when you're gonna do layoffs, the first thing that 430 00:23:43,000 --> 00:23:46,040 Speaker 1: goes are the things that are nice to have, like, oh, 431 00:23:46,119 --> 00:23:49,560 Speaker 1: it'd be nice if we could do AI ethically and responsibly, 432 00:23:50,640 --> 00:23:53,399 Speaker 1: but that's not really helping our bottom line, and in fact, 433 00:23:53,560 --> 00:23:55,200 Speaker 1: it might be getting in the way of our bottom 434 00:23:55,200 --> 00:23:58,399 Speaker 1: line because we keep talking to these people about rolling 435 00:23:58,400 --> 00:24:00,720 Speaker 1: this out and they keep flagging all of these different 436 00:24:00,720 --> 00:24:05,440 Speaker 1: ethical problems they have, like oh, whoops, it accidentally taught 437 00:24:05,440 --> 00:24:08,080 Speaker 1: a thirteen year old, you know, how to sneak out 438 00:24:08,080 --> 00:24:12,800 Speaker 1: with a thirty one year old, And so instead of 439 00:24:12,920 --> 00:24:15,000 Speaker 1: holding it up for that, let's get rid of this 440 00:24:15,040 --> 00:24:17,239 Speaker 1: team and then let's just roll it out. So in 441 00:24:17,240 --> 00:24:19,240 Speaker 1: that sense, to the bottom line, it's a win win. 442 00:24:19,280 --> 00:24:22,400 Speaker 1: And so the idea that Silicon Valley or the tech 443 00:24:22,400 --> 00:24:24,600 Speaker 1: industry was ever going to self police any of this, 444 00:24:24,720 --> 00:24:27,480 Speaker 1: I think is a fantasy. And this should be a 445 00:24:27,520 --> 00:24:30,120 Speaker 1: wake up call that if we as a people actually 446 00:24:30,119 --> 00:24:35,199 Speaker 1: care about this, actually care about this staying under the 447 00:24:35,240 --> 00:24:38,760 Speaker 1: control of people, then the government is going to have 448 00:24:38,760 --> 00:24:41,120 Speaker 1: to do something about it, and fast. That's the other 449 00:24:41,200 --> 00:24:42,960 Speaker 1: thing I mean. So, and then you need these tech 450 00:24:43,000 --> 00:24:46,840 Speaker 1: companies to cooperate quickly because they have to be able 451 00:24:46,880 --> 00:24:51,600 Speaker 1: to see in this race for profits that what they're 452 00:24:51,640 --> 00:24:55,439 Speaker 1: doing could be bad not just for the country, but 453 00:24:55,520 --> 00:24:58,119 Speaker 1: for their own families, for themselves. And there are a 454 00:24:58,200 --> 00:25:00,919 Speaker 1: lot of people that are absolutely trying to raise the 455 00:25:00,960 --> 00:25:03,600 Speaker 1: red flags who are working in AI right now. There 456 00:25:03,600 --> 00:25:05,920 Speaker 1: are some of them that say, listen, we're looking at 457 00:25:05,960 --> 00:25:10,720 Speaker 1: this and it absolutely terrifies us. There's just there's almost 458 00:25:10,760 --> 00:25:13,280 Speaker 1: nothing that we can do. We need this to be 459 00:25:13,320 --> 00:25:17,000 Speaker 1: in the public square. If you thought we were behind 460 00:25:17,080 --> 00:25:19,639 Speaker 1: the curve when it came to regulating Facebook and Twitter, 461 00:25:20,160 --> 00:25:23,040 Speaker 1: just wait, I mean, this is going so much faster. 462 00:25:24,000 --> 00:25:27,520 Speaker 1: And again, there seems to be basically very little coverage 463 00:25:27,560 --> 00:25:29,879 Speaker 1: of this in the media, very little talk about it 464 00:25:29,960 --> 00:25:33,440 Speaker 1: in Washington, DC. Props to the Center for Humane Tech 465 00:25:33,520 --> 00:25:37,120 Speaker 1: for doing what they're doing, but we need so much more. 466 00:25:37,160 --> 00:25:39,520 Speaker 1: We need more than just one organization raising the red 467 00:25:39,520 --> 00:25:42,080 Speaker 1: flags about this, so that you can have a tech 468 00:25:42,119 --> 00:25:46,040 Speaker 1: industry that's willing to pause because they know pressure is coming. 469 00:25:47,119 --> 00:25:49,040 Speaker 1: One way you could bring pressure too, would be through 470 00:25:49,240 --> 00:25:53,359 Speaker 1: defamation law. If they don't have Section two Like, do 471 00:25:53,400 --> 00:25:56,360 Speaker 1: they have Section two thirty protections? I think so right now, 472 00:25:56,520 --> 00:26:00,800 Speaker 1: right so. But it's not a commenter that's making the 473 00:26:00,800 --> 00:26:08,040 Speaker 1: the comment, it's own their own what machine is publishing. 474 00:26:08,119 --> 00:26:11,840 Speaker 1: It is producing content, and if that content is defamatory 475 00:26:13,200 --> 00:26:15,359 Speaker 1: or that content puts people at risk. You know, they 476 00:26:15,359 --> 00:26:18,880 Speaker 1: start with a disclaimer that says this is crazy. Don't 477 00:26:18,880 --> 00:26:21,680 Speaker 1: put any faith in any of this. If a court 478 00:26:21,720 --> 00:26:24,440 Speaker 1: would rule it that disclaimer doesn't count, like you're actually 479 00:26:24,480 --> 00:26:29,080 Speaker 1: responsible for what you produce and for its consequences, then 480 00:26:29,200 --> 00:26:31,400 Speaker 1: you then you would see them, I think, take take 481 00:26:31,680 --> 00:26:34,439 Speaker 1: more responsibility for what they're producing. And look at this. 482 00:26:34,520 --> 00:26:36,800 Speaker 1: In Snapchat's case, this is a child, this is a 483 00:26:36,880 --> 00:26:39,680 Speaker 1: thirteen year old. An adult is I mean, we're gonna 484 00:26:39,680 --> 00:26:42,080 Speaker 1: have enough problems as adults adapting to this, but with 485 00:26:42,160 --> 00:26:46,920 Speaker 1: a developing brain, learning to have intimate relationships with artificial 486 00:26:47,000 --> 00:26:49,760 Speaker 1: intelligence is a rubicon that has not yet been crossed, 487 00:26:49,800 --> 00:26:52,240 Speaker 1: and it is happening right now on a daily, weekly 488 00:26:52,400 --> 00:26:55,520 Speaker 1: basis in ways we don't understand, we don't have research, 489 00:26:55,800 --> 00:26:57,960 Speaker 1: we don't have the ability to understand what this means 490 00:26:57,960 --> 00:27:00,639 Speaker 1: on a mass scale. Being ruled out so quickly is 491 00:27:00,720 --> 00:27:03,439 Speaker 1: grossly irresponsible for Snapchat to put this in their product. 492 00:27:03,920 --> 00:27:08,119 Speaker 1: It should be something that shames Snapchat out of like 493 00:27:08,600 --> 00:27:11,880 Speaker 1: doing anything like this. They should be getting grilled right now. 494 00:27:11,880 --> 00:27:14,119 Speaker 1: This should be in front of Congress. People should be 495 00:27:14,200 --> 00:27:17,840 Speaker 1: talking about this in the media, and there's just crickets, 496 00:27:17,880 --> 00:27:21,800 Speaker 1: just crickets. But it's utterly shameful. Yeah, bad stuff, really 497 00:27:21,800 --> 00:27:25,119 Speaker 1: bad stuff, really really bad stuff. Take it seriously. Take 498 00:27:25,160 --> 00:27:27,679 Speaker 1: it seriously your own life, and we need to take 499 00:27:27,720 --> 00:27:32,560 Speaker 1: it more seriously in politics and media. One of the 500 00:27:32,600 --> 00:27:35,680 Speaker 1: most vocal cheerleaders of the Silicon Valley Bank bailout was 501 00:27:35,720 --> 00:27:39,520 Speaker 1: none other than California Governor Gavin Newsom. Ken Klippenstein from 502 00:27:39,520 --> 00:27:41,560 Speaker 1: The Intercept joins us to talk about some of his 503 00:27:41,640 --> 00:27:45,800 Speaker 1: new reporting about some potential conflicts that Governor Newsom may 504 00:27:45,840 --> 00:27:48,680 Speaker 1: have had that he that he neglected to mention. Ken, 505 00:27:49,320 --> 00:27:51,400 Speaker 1: Thanks for joining us. Good to be with you guys. 506 00:27:51,480 --> 00:27:53,439 Speaker 1: I have to say when you teed up this segment, 507 00:27:53,480 --> 00:27:54,720 Speaker 1: I thought you were going to say one of the 508 00:27:54,720 --> 00:27:59,399 Speaker 1: most vocal cheerleaders of SVB was who happened to have 509 00:27:59,720 --> 00:28:02,240 Speaker 1: some of his startup capital lodged in that bank. Ken, 510 00:28:02,280 --> 00:28:03,920 Speaker 1: A lot of people don't know this has a winery 511 00:28:04,040 --> 00:28:07,320 Speaker 1: like Gavin Newsom and he was banking with SBB. Well, congratulations, 512 00:28:07,359 --> 00:28:10,159 Speaker 1: I'm glad that everything worked out for you know me, 513 00:28:10,240 --> 00:28:14,000 Speaker 1: I like to support the innovators. That's right, Yes, so 514 00:28:14,000 --> 00:28:16,359 Speaker 1: so Gavin Newsom loves to support the innovators as well. 515 00:28:17,280 --> 00:28:20,440 Speaker 1: Tell us a little bit about his entanglements with Silicon 516 00:28:20,480 --> 00:28:22,240 Speaker 1: Valley Bank, what we know of them. Yeah, so it 517 00:28:22,280 --> 00:28:25,480 Speaker 1: turns out he has three wineries. He was a businessman 518 00:28:25,560 --> 00:28:28,720 Speaker 1: before becoming governor, owns a bunch of companies in the 519 00:28:28,720 --> 00:28:32,960 Speaker 1: hospitality industry. And three of those wineries appeared in the 520 00:28:33,000 --> 00:28:37,000 Speaker 1: bank's winery division. That's a thing for the for the bank, 521 00:28:37,119 --> 00:28:39,920 Speaker 1: and it's it's listed on the website. And so it 522 00:28:39,960 --> 00:28:44,360 Speaker 1: turns out he uses Silicon Valley Bank for those three companies. 523 00:28:44,360 --> 00:28:47,200 Speaker 1: In addition to that, a long time former employee of 524 00:28:47,520 --> 00:28:50,040 Speaker 1: Newsom's told me that he also uses it for his 525 00:28:50,120 --> 00:28:53,360 Speaker 1: personal his multiple personal accounts with the bank as well. 526 00:28:53,720 --> 00:28:55,720 Speaker 1: And then third angled all of this is that his 527 00:28:55,800 --> 00:29:02,080 Speaker 1: wife runs a nonprofit and on the board of directors 528 00:29:02,240 --> 00:29:05,560 Speaker 1: is a president of a Silicon Valley bank, and that 529 00:29:05,720 --> 00:29:11,040 Speaker 1: nonprofit received one hundred thousand dollars from SVB over the 530 00:29:11,120 --> 00:29:15,600 Speaker 1: last several years. So a number of different points of 531 00:29:15,840 --> 00:29:19,800 Speaker 1: connection and ties between Governor Newsom in that bank. And 532 00:29:19,840 --> 00:29:21,920 Speaker 1: I want to get your thoughts ken on the response 533 00:29:21,960 --> 00:29:25,360 Speaker 1: from Newsom's camp to your reporting. They claim right that 534 00:29:25,440 --> 00:29:27,680 Speaker 1: he has his holdings, all of his financial holdings are 535 00:29:27,680 --> 00:29:30,680 Speaker 1: in a blind trust. What do we know about the 536 00:29:30,720 --> 00:29:34,000 Speaker 1: potential conflicts there and how much that would matter if, 537 00:29:34,480 --> 00:29:36,680 Speaker 1: for instance, you know, his wife has this connection on 538 00:29:36,720 --> 00:29:39,360 Speaker 1: the board with SVB. Right. So the problem with this 539 00:29:39,720 --> 00:29:43,120 Speaker 1: blind trust is that it's not meaningfully blind. If you 540 00:29:43,160 --> 00:29:45,240 Speaker 1: look at what some of the ethics experts have said, 541 00:29:45,240 --> 00:29:48,600 Speaker 1: and what this case is really reminiscent of was President 542 00:29:48,600 --> 00:29:51,200 Speaker 1: Trump in his attempt to put his companies into a 543 00:29:51,240 --> 00:29:53,720 Speaker 1: blind trust, which he then allowed his son to run. 544 00:29:54,000 --> 00:29:56,200 Speaker 1: And then in this case sort of in parallel to that, 545 00:29:56,640 --> 00:30:00,280 Speaker 1: Governor Newsom's sister runs his blind trust. And so the 546 00:30:00,320 --> 00:30:02,400 Speaker 1: critique of that is that it's not meaningfully blind because A, 547 00:30:02,680 --> 00:30:04,640 Speaker 1: he already knows all the companies that's in it, because 548 00:30:04,640 --> 00:30:06,520 Speaker 1: he's run them for a number of years. And b 549 00:30:07,320 --> 00:30:10,440 Speaker 1: you know, it's his blood relative that's running this thing. 550 00:30:10,680 --> 00:30:12,600 Speaker 1: So what kind of wall is that to put between 551 00:30:12,680 --> 00:30:14,880 Speaker 1: him and these firms? And accurded to me. Another good 552 00:30:14,920 --> 00:30:17,640 Speaker 1: one is Joe Manchin who has who he and his 553 00:30:17,640 --> 00:30:20,640 Speaker 1: wife have a coal company and they put it in 554 00:30:20,680 --> 00:30:22,400 Speaker 1: the name, they put it in a blind trust, but 555 00:30:23,240 --> 00:30:26,160 Speaker 1: his son runs it. But he still knows it's a 556 00:30:26,160 --> 00:30:29,920 Speaker 1: coal company, right, he knows what it does, right. And 557 00:30:30,160 --> 00:30:33,480 Speaker 1: now Newsome might only be able to assume at this 558 00:30:33,520 --> 00:30:36,200 Speaker 1: point that the winery still has accounts with Silicon Valley Bank. 559 00:30:36,240 --> 00:30:39,320 Speaker 1: But you don't typically, you know, move your you know, 560 00:30:39,400 --> 00:30:42,160 Speaker 1: major banking operations for no reason unless you're a tech 561 00:30:42,160 --> 00:30:44,160 Speaker 1: bro kind of sparked, trying to spark a panic or 562 00:30:44,200 --> 00:30:46,960 Speaker 1: your panic. I was actually just looking up his wine. 563 00:30:47,160 --> 00:30:51,880 Speaker 1: Plump Jack. It's one of his wineries. Apparently it specializes. 564 00:30:51,960 --> 00:30:57,040 Speaker 1: It's a boutique like Northern California Cabernets. It's one hundred 565 00:30:57,040 --> 00:30:59,440 Speaker 1: dollars a bottle for their twenty eighteen plump Jack. You 566 00:30:59,480 --> 00:31:02,160 Speaker 1: ever had plump Jack Cabernet? I have not never heard 567 00:31:02,200 --> 00:31:04,400 Speaker 1: of it. Have you ever heard of it? No? Anyway, 568 00:31:04,480 --> 00:31:06,959 Speaker 1: but you know I'm not a big Cabernet person. And 569 00:31:07,200 --> 00:31:10,560 Speaker 1: so did you get any reaction from either the California 570 00:31:10,600 --> 00:31:14,000 Speaker 1: Press or the Governor's office in the story? What'd you hear? Yeah? 571 00:31:14,000 --> 00:31:15,840 Speaker 1: The California Press is actually following up on it, and 572 00:31:15,880 --> 00:31:17,960 Speaker 1: I'm glad that it hasn't just become a partisan football 573 00:31:17,960 --> 00:31:20,440 Speaker 1: because this is really, as I said with the Trump case, 574 00:31:20,800 --> 00:31:23,400 Speaker 1: this is an ethics question that is a serious one 575 00:31:23,640 --> 00:31:25,400 Speaker 1: and has been a serious one in the local press. 576 00:31:25,680 --> 00:31:28,760 Speaker 1: They had looked at these problems, not specifically the wine companies, 577 00:31:28,800 --> 00:31:32,280 Speaker 1: in the in the bank, but all of his holdings. 578 00:31:32,280 --> 00:31:33,720 Speaker 1: And this is something that comes up any time you 579 00:31:33,720 --> 00:31:36,600 Speaker 1: have one of these business moguls that that you know 580 00:31:36,880 --> 00:31:39,640 Speaker 1: has a high net worth, as as Governor Newsom does. 581 00:31:39,680 --> 00:31:43,680 Speaker 1: There are all these questions of conflicts of interest, and 582 00:31:43,720 --> 00:31:47,120 Speaker 1: so there's been some very good reporting in the local 583 00:31:47,160 --> 00:31:52,280 Speaker 1: press around what's called behested giving. So there are strict 584 00:31:52,320 --> 00:31:55,800 Speaker 1: limits on what California politicians can take in terms of 585 00:31:55,840 --> 00:31:58,280 Speaker 1: gifts generally, but there's one exception, and that is what's 586 00:31:58,280 --> 00:32:01,800 Speaker 1: called haid giving, where the audition direct giving to something, 587 00:32:02,520 --> 00:32:05,040 Speaker 1: and in this case, Newsom is known to have directed 588 00:32:05,080 --> 00:32:09,560 Speaker 1: giving to his wife's nonprofit and so it's not it's 589 00:32:09,600 --> 00:32:11,680 Speaker 1: not regulated in the same fashion that other gifts are. 590 00:32:11,680 --> 00:32:13,840 Speaker 1: And that's something that the local press has been focusing 591 00:32:13,840 --> 00:32:15,280 Speaker 1: on for a number of years now. And Ken, you 592 00:32:15,320 --> 00:32:17,120 Speaker 1: just said something important, which is that you didn't want 593 00:32:17,160 --> 00:32:19,760 Speaker 1: it to become sort of a partisan football. The report 594 00:32:19,840 --> 00:32:23,360 Speaker 1: you had just before this one was about entanglements in 595 00:32:23,400 --> 00:32:26,480 Speaker 1: the office of Kevin McCarthy with Silicon Valley Bank. Tell 596 00:32:26,560 --> 00:32:28,920 Speaker 1: us about what you found there. Yeah, what was interesting 597 00:32:28,920 --> 00:32:31,719 Speaker 1: about that is that two of the House Speaker McCarthy's 598 00:32:32,080 --> 00:32:34,440 Speaker 1: senior staffers for a number of years ended up becoming 599 00:32:34,560 --> 00:32:38,640 Speaker 1: a registered lobbyist for Silicon Valley Bank. And not just that. 600 00:32:38,680 --> 00:32:41,040 Speaker 1: When I looked at what specifically they lobbied on, it's 601 00:32:41,040 --> 00:32:43,640 Speaker 1: directly related to all the stuff that's happening now, which 602 00:32:43,680 --> 00:32:47,760 Speaker 1: is the twenty eighteen Dodd Frank partial rollback specifically pushed 603 00:32:47,800 --> 00:32:50,800 Speaker 1: on that lobby the FDIC, which is what's ensuring the 604 00:32:51,080 --> 00:32:54,200 Speaker 1: depositors at this point and guaranteeing making whole of the 605 00:32:54,200 --> 00:32:56,520 Speaker 1: people that had money in that bank. So it's directly 606 00:32:56,520 --> 00:32:58,240 Speaker 1: connected to all this. What's sort of funny about that 607 00:32:58,280 --> 00:32:59,920 Speaker 1: is when I have this Newsom piece come on, some 608 00:33:00,120 --> 00:33:02,440 Speaker 1: Democrats are very angry about it, saying, you know, oh, 609 00:33:02,440 --> 00:33:04,280 Speaker 1: you're a Republican disguise. It's like, oh, it's funny, you 610 00:33:04,280 --> 00:33:07,000 Speaker 1: missed my last story. It's literally about the other. I'm 611 00:33:07,000 --> 00:33:09,040 Speaker 1: not looking for any specific I'm just looking at the 612 00:33:09,080 --> 00:33:12,600 Speaker 1: bank and trying to see where the nexus is with politicians, 613 00:33:12,600 --> 00:33:14,600 Speaker 1: and whatever pops up is what I'm going to write about. 614 00:33:14,640 --> 00:33:15,920 Speaker 1: So I don't I don't know what the sell people. 615 00:33:15,960 --> 00:33:18,000 Speaker 1: Oh yeah, And it's really in that rule writing and 616 00:33:18,040 --> 00:33:20,840 Speaker 1: in the regulatory side where the public is at the 617 00:33:20,880 --> 00:33:25,960 Speaker 1: most disadvantage. So in Congress at least it's happening somewhat 618 00:33:25,960 --> 00:33:27,840 Speaker 1: in public view, so people can weigh in when it's 619 00:33:27,840 --> 00:33:31,000 Speaker 1: an obscure kind of rollback. Unless you're reading the intercept 620 00:33:31,040 --> 00:33:33,760 Speaker 1: the American Prospect, you're not going to follow like those 621 00:33:34,240 --> 00:33:36,640 Speaker 1: you know, those those repeal efforts through Congress, but you 622 00:33:36,720 --> 00:33:38,840 Speaker 1: can if you want to. By the time it gets 623 00:33:38,840 --> 00:33:43,480 Speaker 1: into the FDIC, it's really like former McCarthy aids, former 624 00:33:43,520 --> 00:33:47,120 Speaker 1: Mansion aids, you know, former House Financial Services Committee aids, 625 00:33:47,360 --> 00:33:50,600 Speaker 1: who are going directly to the FDIC saying, all right, 626 00:33:50,680 --> 00:33:53,240 Speaker 1: so here is what was written into law. Now here's 627 00:33:53,280 --> 00:33:55,480 Speaker 1: how we can weaken it even further. Because the FDI s, 628 00:33:55,920 --> 00:33:59,600 Speaker 1: you know, aside from insuring deposits, also wrote a lot 629 00:33:59,600 --> 00:34:02,520 Speaker 1: of the rules around Dodd Frank about how are we 630 00:34:02,560 --> 00:34:04,240 Speaker 1: going to implement the law. What does it mean when 631 00:34:04,240 --> 00:34:06,160 Speaker 1: we're going to stress tests you? How often are we 632 00:34:06,160 --> 00:34:08,640 Speaker 1: going to look at your books? What do we feel 633 00:34:08,680 --> 00:34:10,960 Speaker 1: like is a reasonable amount of exposure? What is not 634 00:34:11,000 --> 00:34:13,800 Speaker 1: a reasonable amount of exposure, because what I think a 635 00:34:13,800 --> 00:34:15,880 Speaker 1: lot of people might not understand is a direct link 636 00:34:15,920 --> 00:34:19,719 Speaker 1: between the twenty eighteen rollback and this blow up. The 637 00:34:19,760 --> 00:34:24,800 Speaker 1: link would be if there were tighter inspections and stress 638 00:34:24,840 --> 00:34:27,359 Speaker 1: tests of the bank, you might have had regulators come 639 00:34:27,400 --> 00:34:31,760 Speaker 1: in and say all of these bond holdings is mortgage 640 00:34:31,800 --> 00:34:35,080 Speaker 1: backed securities. I've been hearing a lot on the news 641 00:34:35,080 --> 00:34:39,160 Speaker 1: about potential coming interest rate hikes. I'm not sure that 642 00:34:39,520 --> 00:34:42,239 Speaker 1: if that stressor hits you, that you're going to be 643 00:34:42,280 --> 00:34:46,120 Speaker 1: able to survive that. So one of two things happens, 644 00:34:46,200 --> 00:34:50,200 Speaker 1: they make them unwind those or knowing that they're going 645 00:34:50,239 --> 00:34:54,880 Speaker 1: to get that pressure from regulators, the risk managers don't 646 00:34:54,920 --> 00:34:57,200 Speaker 1: do it. They say, you know what, we need shorter 647 00:34:57,320 --> 00:35:00,000 Speaker 1: term bonds here, or we just need to stay treasuries, 648 00:35:00,160 --> 00:35:01,799 Speaker 1: or we need to we need to make sure we're 649 00:35:01,880 --> 00:35:04,520 Speaker 1: tightly hedged in the case of some type of shock 650 00:35:04,560 --> 00:35:07,439 Speaker 1: from interest rates. And this idea that nobody could see 651 00:35:07,440 --> 00:35:11,279 Speaker 1: these interest strikes Nike's coming, Are you kidding me? I'm 652 00:35:11,280 --> 00:35:13,160 Speaker 1: not like I'm not a risk manager at a bank. 653 00:35:13,200 --> 00:35:15,040 Speaker 1: I knew they were going to raise interest rates. I 654 00:35:15,040 --> 00:35:17,600 Speaker 1: talked to an employee of sp bank who himself was 655 00:35:17,600 --> 00:35:20,239 Speaker 1: frustrated about exactly what you're saying, which is that of 656 00:35:20,239 --> 00:35:22,400 Speaker 1: course they were going to raise they were saying it, 657 00:35:22,440 --> 00:35:25,440 Speaker 1: and so what's amazing. I interviewed an economist recently about 658 00:35:25,440 --> 00:35:28,600 Speaker 1: all this and said, why are these banks so adamant 659 00:35:28,640 --> 00:35:31,520 Speaker 1: about rolling back regulations, because doesn't that end up hurting 660 00:35:31,560 --> 00:35:33,480 Speaker 1: them in the mid to long term? And he's like, well, 661 00:35:33,520 --> 00:35:35,879 Speaker 1: you're assuming that they're looking at the mid to long term, 662 00:35:36,160 --> 00:35:38,080 Speaker 1: you know, because again I'm talking to his employee. He 663 00:35:38,080 --> 00:35:41,120 Speaker 1: would have been happy to have the stress tests happened 664 00:35:41,160 --> 00:35:42,800 Speaker 1: because he wouldn't have to worry about all this stuff 665 00:35:42,800 --> 00:35:45,239 Speaker 1: now that he's having to brief investors and things on 666 00:35:45,400 --> 00:35:48,319 Speaker 1: and you know, hop hope for his job to still 667 00:35:48,360 --> 00:35:51,240 Speaker 1: exist in a year. And so it's kind of interesting 668 00:35:51,239 --> 00:35:54,759 Speaker 1: how much ends up hurting basically everyone except people at 669 00:35:54,760 --> 00:35:58,080 Speaker 1: the very top C suite level, these kind of irregulations. Well, 670 00:35:58,120 --> 00:36:00,160 Speaker 1: and you quote at the very end, you have you 671 00:36:00,200 --> 00:36:03,200 Speaker 1: really stick the landing, and this again you say, perhaps 672 00:36:03,200 --> 00:36:06,399 Speaker 1: no one embodied this contradiction more than Larry Summers, who 673 00:36:06,440 --> 00:36:09,240 Speaker 1: said this is not the time for moral hazard elections, 674 00:36:09,320 --> 00:36:12,760 Speaker 1: or for lectures, or for lessons administering, or for alarm 675 00:36:12,920 --> 00:36:17,320 Speaker 1: about the political consequences of bailouts from a tweet on Sunday, 676 00:36:17,480 --> 00:36:19,920 Speaker 1: and when you have to your point about the people 677 00:36:19,920 --> 00:36:22,680 Speaker 1: in the C suites never ending up getting hurt, well 678 00:36:22,800 --> 00:36:25,440 Speaker 1: maybe that's partially why. Yeah, coming from the guy that 679 00:36:25,520 --> 00:36:29,799 Speaker 1: for the last two years has been endlessly talking about 680 00:36:29,800 --> 00:36:33,000 Speaker 1: how we can't have student loan debt because the moral hazard. 681 00:36:33,000 --> 00:36:35,320 Speaker 1: And now we don't have to worry about moral hazard. 682 00:36:35,360 --> 00:36:39,600 Speaker 1: This is a very serious issue right now. All those people, 683 00:36:39,600 --> 00:36:41,680 Speaker 1: that's the other thing he said we need. He said 684 00:36:41,680 --> 00:36:44,160 Speaker 1: we need moreployment ten years. What happened to that? Well, 685 00:36:44,160 --> 00:36:47,080 Speaker 1: here's your chance, right, not like the wrong the wrong 686 00:36:47,120 --> 00:36:49,480 Speaker 1: people on him. We don't want them to be on him. 687 00:36:49,719 --> 00:36:53,080 Speaker 1: Come on, now, that's a little bit. Those guys, I 688 00:36:53,160 --> 00:36:59,000 Speaker 1: know them. Yeah, they need good people. You know. That's 689 00:36:59,040 --> 00:37:01,160 Speaker 1: how you know somebody has lost an argument when they 690 00:37:01,200 --> 00:37:06,960 Speaker 1: just say now is not the time. Yeah, okay, you 691 00:37:07,040 --> 00:37:10,800 Speaker 1: might be right. I just don't want to hear it, right, Okay, 692 00:37:10,840 --> 00:37:12,719 Speaker 1: great reporting, Thanks so much, Thanks guys.