Have You Heard About Trump’s Pick for Treasury?
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Okay, ethical bypass and life poker. What the hell is Markowski going to be talking about? Okay, poker. I’m not a poker player. I don’t gamble. But I appreciate I appreciate the game. I do. And I like, you know, seeing movies about it. I’m a fan of the movie rounders and how you know, it’s about trying to read the person.
You’re not playing with your cards. I understand that concept. You’re trying to read the other players at the table. I play life poker. What’s life poker? I, I again, as you get older and if you are observant and you take things in, you learn to pick up tells by other human beings. And what I mean by that.
is that little thing, little things that people do so you can start reading people and figuring out who they are. I admit I was woefully, woefully unprepared as a life poker player, I even know really understand, you know, I didn’t even thought about that concept back when I first started leaving college and entering the real world. And yeah, I paid the price for that.
in many ways. Let me give an example, life poker. I’ve talked about some terms of you watch people and how they treat others, for example, here’s an example, you’re at you’re at a restaurant, your restaurant, and you’re at a business meeting, you’ve got a possible person to do a business client, possibly, business partner may get involved in some deal with, and you watch how that person treats the waitstaff.
the bartender. And that’ll tell you a lot. Little did it tell you a lot about who that that person is. I look at this also in terms of people and the ethical bypasses that they’re they’re willing to take what they’re willing to overlook. Remember, remember, mom and dad told you your kids about, you know, you are who your friends are and who the people you hang out with.
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Well, why do I bring this up today? Where are you going with this Markowski? Okay. I tell you, according to a headlines today at Bloomberg news and Reuters, Donald Trump is floating the idea that John Paulson hedge fund billionaire to be his next treasury secretary. Next, John Paulson.
Uh, Paulson has hosted multiple, uh, fundraising events, uh, for Donald Trump in this current election cycle. He also raised a lot of money back in 2020 as well. Um, he’s in charge as president of Paulson and company. Um, I’m going to go back, going to go back to April 16th of 2010. Uh, this is a securities and exchange commission. This is what they had to say about John Paulson.
and his business morals. This is when they went after Goldman Sachs for the infamous 2007 abacus deal. The SEC alleges that one of the world’s largest hedge funds, Paulson and Company, paid Goldman Sachs to structure a transaction in which Paulson and Company could take short positions against mortgage securities chosen by Paulson.
based on the belief that securities would experience credit events. What this means, Paulson worked with Goldman Sachs to put together a security that they knew would default. And they bet on the fact that it would default. I have talked about this before countless times on the program.
where I talked about how Goldman Sachs essentially put a bomb in a house, okay? Built a house knowingly a garbage house. I won’t say a bomb, I’ll say they built a house knowing that the house was a piece of shit. They knew that the roof was gonna cave in. They knew that the foundation wasn’t solid. The plumbing wasn’t mixed. They knew it, okay? Again, they put lipstick on it.
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They had shiny marketing brochures. They made that a house look awesome. Awesome. And they sold it. Now they built this house with a guy by the name of John Paulson. They knew that John Paulson was going to bet that this house was going to fall apart and collapse.
Did Goldman Sachs pay a fine on this? Yeah, Goldman Sachs paid a fine for working with Paulson on this. Paulson getting any trouble? No.
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No, no, I’ll go through this again, okay? John Paulson goes to Goldman Sachs, says he wants to bet against the housing market. Again, at the same time, okay? Same time, we were telling everybody on our radio show, didn’t have a podcast, no podcast at that time. We were telling everybody on our radio show, everybody would listen, that the housing market was gonna fall apart, it was gonna be a disaster. Paulson knew that as well. What did he do?
him. Hmm. We got we got an opportunity where we can make a lot of money here. Okay. So he wants to bet against risky subprime mortgages, again, the broken houses using derivatives. So, okay, he goes to Goldman Sachs. And Goldman Sachs, well, you know what, we got some suckers out there. We’ve got some suckers. We got this German bank we’re doing business with.
And they’ll buy this stuff that was put together security. They’ll buy this up. And another company as well, ACA management, OK, was a bond insurer, got them involved also. So basically, that’s what they do. They put it together. Goldman Sachs knows what Paulson knows that he is betting against this. He’s betting against the house that he’s building. OK.
Would you, again, would you buy a house from a builder when you thought when the builder was taking out an insurance policy on that house that it was going to fall apart? That’s essentially what Paulson and Goldman Sachs did.
Donald Trump wants him to be his next Treasury Secretary of the United States.
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Again? You don’t believe me? I’m waiting! Please, MAGA crowd! I’m begging you MAGA types! I’m begging you MAGA types! Justify this! Tell me that explain to me how this is okay. And don’t tell me that well, he’s better than Biden. Give me something else. justify it. I dare you. Watchdog on wall street .com.
