Will Maule of Faithwire joined Glenn on radio Tuesday to talk about a viral video of a black immigrant who is arrested for preaching in the public square in England. The clip is like a dystopian movie and leaves echos of 1984. Watch this clip to hear Will's assessment of the situation.
On Tuesday, President Trump announced his second run for the White House. And even though Glenn believes Trump had a perfect tone during his announcement — with no attacks, name-calling, or negativity regarding fellow Republicans — Glenn still has some advice for the former president. Listen to this clip to find out what Glenn believes Donald Trump MUST DO in order to reach as many voters as possible before the 2024 election...
Below is a rush transcript that may contain errors
GLENN: So I don't know. Did you watch the speech yesterday?
STU: Yeah. A good chunk of it.
GLENN: Okay. So I watched most of it myself. I never have seen him that disciplined. He did everything he needed to do, and none of the other crap. Which would have gotten him in trouble. He did not take on Ron DeSantis or anybody else in the G.O.P. Did not eat his own. He instead, reminded people to vote for Georgia -- vote in Georgia for Walker. He reminded people of his accomplishments, and what America used to be like just two short years ago. And then laid out an agenda to bring it back. He also did not bring up the 2020 election. Which I thought him being focused forward is the biggest thing that he had to do. And he did it, last night.
Now, because I call balls and strikes, there's good things that Trump did. DeSantis, I think stumbled yesterday. Stop it. Stop it. Yesterday, he came out and he said something about Trump. I don't even remember what.
STU: I mean, people asked -- well, people asked him about Trump attacking him. And I think what his quote -- he said -- it wasn't that bad.
He said, eh, you know, incoming fire is part of the gig. I would say look at the scoreboard from last week.
GLENN: Here he is, cut four.
VOICE: What do you think about Trump's big announcement, and some of the comments he's made about you?
RON: Well, one of the things I've learned in this job. When you're leading. When you're getting -- if we go to things done, you know you take incoming fire. That's just the nature of it. I roll out of bed in the morning. I've got corporate media outlets that have a spasm, just the fact I'm getting up in the morning.
And it's constantly attacking. And this is just what's happened. I don't think any governor got attacked more, particularly by corporate media, than me over my four-year term.
And yet, I think what you learn is, all that is just noise. And really, what matters is are you leading? Are you getting in front of issues? Are you delivering results for people, and are you standing up for folks?
And if you do that, then none of that stuff matters. That's what we've done. We focused on results and leadership.
And you know at the end of the day, I would just tell people to check out the scoreboard from last Tuesday night.
It was the greatest Republican victory, in the history of the state of Florida.
STU: I don't know. I think that's the right tone for him.
GLENN: I just would have liked him to say, yeah. Trump helped me out. And I have no problem with Trump. And that's just me, nitpicky. But I would just like somebody to subsidiary here and say, I don't have any enemies in the G.O.P.
I would like someone to play Ronald Reagan. And I thought Trump did the best he could do last night. He didn't fire off any shots, which I thought was amazing. Of course, it wasn't enough for the media. Oh, boy.
Donald Trump announces he's running for president in 2024. This is from the Washington Post.
Donald Trump, the twice impeached former president, who refused to concede defeat. And inspired a failed attempt to overturn the 2020 election, culminating in a deadly attack on the US Capitol. Officially declared on Tuesday night, that he's running to retake the White House in 2024.
Well, I think that was totally fair and balanced, don't you?
So let's look at CNN. Former president, Donald Trump, aiming to become the only second commander-in-chief, ever elected, to -- two none consecutive terms, announced Tuesday night. He will seek the Republican presidential nomination.
Then he goes into -- then it goes into a quote. Trump delivered a relatively subdued speech. Rife with spurious and exaggerated claims about his four years in office. Despite a historically divisive president scene, his own role in inciting an attack in the US.
So at least at CNN, it took him three paragraphs. Where the Washington Post got it all at once.
NPR, Donald Trump, who tried to overthrow the results of the 2020 presidential election, and inspired a deadly riot in the Capitol, in a desperate attempt to keep himself in power, announced he's running again for president in 2024.
STU: Just -- despite the bias. Like, does anyone think that we forgot that he was president of the United States, and that there was this -- like, we all remember the story. You don't need to remind us. They all put us in the headline. Donald Trump, who organized a coup. Wants to be president. We got what he thinks about that story. You have covered it, at length. Several times.
Yeah. But I think there might be a senator from Pennsylvania, who might remember that. So we have NPR.
Let's see. What else do we have?
Los Angeles times. Trump does not want your vote in 2024, just your obedience, while he trashes the US again. So I think it was fair and balanced.
STU: So dumb.
GLENN: So I think it was fair and honest. I think they were open. Then you have from Politico, three major cable news networks, CNN, Fox, and MSNBC, to different extents, limited their airtime of President Donald Trump's speech Tuesday evening, in which he announced his 2024 presidential campaign.
MSNBC did not air the prime time speech at all. Fox and CNN cut away from more than an hour long address.
Trump verbally announced his candidacy. Fox cut away 15 minutes later than CNN, and then switched back to Trump.
I -- this brings up one thing. And I just don't think that Trump is -- he's very comfortable speaking. He is really good at large events like that. But I would have liked to have seen him do it in 20 minutes.
And knowing that he is the best at off the cuff and long format. But to regain independence. And people buying into all the crap. He really -- he needs to have a much shorter thing.
So people will watch it and consume it that would not normally consume these things.
I mean, it could just be left up to his social team. Let's see what he does with his social team tonight. He also needs to get back on to Twitter. And I know he has his own Truth Social. But, Mr. President, please, please take my advice.
I didn't do YouTube up until, what? Two years ago. And that's because we put everything we had, into the Blaze. And it worked, because we did build the Blaze. And the Blaze is stronger now than ever before. It served our core.
But we realized, we have to be wherever people are. So we're on everything. And it's important strategically, to be on everything, no matter where people are.
So I would urge you to try to get back on to social media.
The world knows Amazon is an extraordinarily powerful company, but one family’s terrifying story demonstrates just how dark, dominant, and dishonorable the corporation truly is. Amy’s husband, Carl, was accused of a crime by Amazon — his former employer — in 2020. Even though Carl was never charged for that crime, Amazon still seized nearly ALL the funds Amy and Carl had spent years acquiring. Everything was taken directly from their bank accounts via civil asset forfeiture. But the dangers of Amazon go even further. In this clip, Amy joins Glenn to detail just how menacing the relationship between Amazon and our federal government — specifically the DOJ — truly is.
Below is a rush transcript that may contain errors
GLENN: Amy Nelson is somebody who has experienced the collusion between big government and big business, pretty much like no one else that I know.
Amazon made claims that her husband did something illegal. Although, they were never told what -- what that charge was supposed to be.
They met with the Department of Justice over and over and over again. And tried to convince the Department of Justice, to charge him with a crime. They never did.
Yet, the Justice Department, came in and took every penny they had. Took their bank accounts. Went as far as I think taking his father or his father-in-law-'s bank account. Took all her bank accounts that were just in her name.
The family was left penniless. They decided to fight. It's not over yet.
Believe it or not. This began, while COVID was happening.
And it could happen to anyone.
So, you know, these -- all these victims, they're not necessarily you know MAGA people, or even Republicans. Amy, who I find delightful, was a bundler for Barack Obama.
So there wasn't a political reason. There was a reason, and the reason is, Amazon was trying to avoid 100 million-dollar judgment or penalty against them. On something else.
So they cooked the books. And tried to make -- at least, that's what it appears to be. That they cooked the books. And tried to make Amy's husband the scapegoat. Why spend 100 million, when you could destroy this guy for maybe ten? And you spend $90 million.
Amy Nelson. Do I have the story kind of accurate in a summary, Amy?
AMY: You really do. And it's remarkable, Glenn. Because it's a long story.
GLENN: So I so appreciate you coming on the program. And I appreciate the fact that you and your husband with four children, you had to sell anything that you were left with.
You had to sell the house.
Because you couldn't make the mortgage payments.
You didn't even know how you would feed your family. But you moved in with relatives, right?
AMY: We did. I mean, we early on -- you know look, I think when my husband was accused with a crime. It was totally shocking to us, we didn't know where this was coming from. Also, I was a lawyer. But I was a civil lawyer. I must know a lot about criminal law. So we were just in a position where we were trying to learn -- and we were just making decision after decision, to try to stay alive and be able to fight. I didn't even know civil forfeiture was a thing in America, to be honest.
I didn't know the government --
GLENN: Maybe you shouldn't have been bundling for Obama. Because we talked about it on my show.
AMY: Maybe I should have been listening to you.
GLENN: Maybe. I'm just saying.
AMY: Yeah, I know. It is -- it is -- you know it's definitely. I think this is really my own politics.
Yeah. It's been an awakening. Really, it's an awakening. I look at it, why would these prosecutors help Amazon?
But I think the answer isn't that complicated. I think most prosecutors leave -- leave the federal -- leave the Department of Justice. And they go work in private practice. And who is going to hire them?
Me or Amazon? Amazon is. Right?
So I think the revolving door in Washington has really what I've been thinking a lot about.
GLENN: I have not. I didn't know the numbers. The numbers you threw out on the special. Pretty staggering about the number of FBI prosecutors and DOJ officials, that are being hired by Amazon. Why would they need all of those people?
But I think -- because of your experience, we know why they are.
AMY: I think part of it is. I think they want to have a close relationship with the Department of Justice. Because the intelligence community is Amazon's web services. They get clients. The more of a relationship that they have, you know, the more they're likely to continue making a profit from selling products to the government. But I also think, and this is just my opinion.
But if you have a Department of Justice, that is focused on anti-trust. And thinking about breaking Amazon up. Anti-trust falls within the Department of Justice.
So if you're like, no, no. We're your friends. You like us. We're your colleague, that's better than having the Department of Justice come at you for anti-trust.
So did you get your money back yet?
AMY: We did actually. So we got our money back in February of 2020. That said, the government held our money for 20 months. So for 20 months, we had to figure out --
GLENN: Hang on just a second. Closed your bank accounts. Closed your credit card. So you couldn't use your credit cards. Took your money out of your accounts. You had no way to buy anything. Right?
AMY: And we didn't. Other than the fact that we were both still working. So they took everything after a certain date, and we kept working. I will say both Carla and I lost work because of this, because of the very sensational, public allegations.
It's hard for me, right? Because I'm not accused for anything.
AMY: And it's not fair that it impacted my husband either.
GLENN: Did you lose friends?
AMY: We did. And that was really hard too.
I mean, I remember once I had accidentally got a text from a woman, talking about me, that wasn't meant from me.
And it was someone I thought was a business colleague and a friend. But I did lose friends and Carl lost friends. But we also figured out who our friends were. There's nothing good going through something like this. But we have been surrounded by so much love. And we have faith. And so that's really helped to get us through this.
GLENN: Yeah. So you said that -- you've seen the effects, and not just in your story.
But take us down the road of this collusion, between the government and Amazon.
AMY: Yeah. So I -- in my own kind of deep search for how the hell did this happen.
I was figuring out, looking at the relationship between Amazon and the Department of Justice. Like, I just figured out, going on linked in,how many people they were hiring from the Department of Justice.
Then I started looking around, on the Department of Justice website. And I was able to piece together, on a two-year period, Amazon had referred over 36 criminal investigations, to the Department of Justice. And I thought, is that normal?
And I went around and looked. And it was Walmart. One of the other largest companies in America. It was two.
AMY: And that's just stunning to me.
And they also have -- I remember in 2008, I had a call from a guy, who was in Amazon, and he was -- he was overseeing some of their -- their server sites.
And if I'm not mistaken, he had something to do with security
And he said, he called me up off the air. And he said, Glenn, whatever our federal government is doing with Amazon. This is not going to work out well.
I said, what are you talking about?
And he said, there's a 10-foot trench just outside our trenches. It's 10 feet down, goes all the way down the fences of our servers.
They're putting in all kinds of monitoring, to make sure that nobody penetrates that. He said, we're starting to partner with the government on information. This can't be good.
AMY: I mean, I don't see how you can't think that they are partnering at this point. You have the FBI, and the CIA, and the NSA.
They hire Amazon web services to hold the government secrets in their data warehouses. And it just seems like governments should be doing on their own. Not relying on a private company. Particularly one that is owned by a billionaire, who owns media companies. You know.
Like, it's weird.
GLENN: Yeah. And isn't the NSA, former NSA director, on their board, or --
AMY: Yes. Yes. The former head of the National Security Agency, is on the corporate board of Amazon.com, as is a lawyer named Jamie Garelles (phonetic), who works for a private law firm, but who previously was the deputy attorney general for the United States as she mentored Merrick Garland. It's all just too close for comfort, for me, personally.
GLENN: Yeah. Honestly, and I don't mean -- I'm not joking about this. I mean this sincerely. Liberals were right about one thing. And conservatives were wrong. You should worry about these giant corporations. I always thought that was crazy. Because who would want to say -- who is out there building the business, going, I want the government more involved in my business? I never thought that would happen. But you know the liberals were absolutely right. I just don't know why they don't see it now.
AMY: It is -- it is something I think about all the time, Glenn. In that, you made a good point, on your show the other night. Talking about how -- about putting someone in prison.
If you put them in prison, for defying Congress. No one has done that in 60 years. I see on the progressive side, people being gleeful about it. So but what I want to say to progressives, this can set a precedent.
So when it's a Republican in charge, they can do the same thing. And you won't be very gleeful about it. You shouldn't look at our constitutional rights as partisan things.
We should hold them dear for all of us, regardless of our politics. And I think we've lost that. I don't know how. Ask I don't know why.
GLENN: Yeah. I do. You should listen to me some more.
AMY: I have been. I have been. I'm a fan now.
GLENN: So, Amy, what is the biggest thing you've learned out of this, that you feel you should pass on to other people? What should they know?
AMY: The thing I want to pass on to other people, is that, you know, if you are accused of something that you didn't do, particularly by people who seem to have more power and more money, a lot of people will tell you to be quiet.
But I think that's wrong. I think the only way to hold power accountable, is to speak out. And I think you're safer when you do speak out too. And so I would encourage people, if they are being deprived of their rights. If they are being accused of something they didn't do. To try to talk about it. To try to get people to listen.
Because that's the only way, I think, to protect yourself. And to drive change. Ask to make sure, it won't happen to other people. Because if Amazon can do this, it's a playbook for every corporation in America. And that is terrifying.
GLENN: Oh, yeah. Amy, are you concerned at all, about retaliation about being on the show, or continuing to speak out on this?
AMY: You know I -- I am. But I also will say, Glenn. That you know Jeff Bezos is out there, publicly saying he hired Gavin de Becker, the former I think -- you know, for his personal security.
GLENN: Oh, yeah. Hang on. Hang on. I've had Gavin de Becker, as my personal security for a while. They're not anymore. Yeah. I know. I know. I know.
AMY: Yeah. You know, it's terrifying.
But I do feel safer, speaking out publicly.
You know, I actually found out last month, because I use social media a lot. And Andy Jassy, he's the CEO of Amazon. We have a number of friends in common. I mean, I personally know Amazon's general counsel David Folky (phonetic), which has made all of this more painful for me.
However, I did find out last night, that Andy Jassy blocked me on Facebook. I'm just a mom in Ohio and the CEO of Amazon. A trillion dollar company personally blocking me on Facebook.
GLENN: That's fantastic. Amy, thank you so much. You go back to court, I think in January. Right?
Or is it --
AMY: So Carl's trial, my husband's civil trial is in May. I'm looking forward to getting this over with.
GLENN: I bet. And we can't wait to talk to you. And celebrate with you, when you win. Thank you so much, Amy. God bless.
Financial institutions like MasterCard and Wells Fargo now are participating in a pilot program for digital dollars. FBI Director Christopher Wray recently failed to clearly answer questions about potential FBI involvement in the January 6th riot, and NBC suspended a reporter after his participation in a controversial report on Paul Pelosi’s attack. So, what do all these stories have in common? In this clip, Glenn details each one — plus a few more — and he explains how these stories are PROOF that the far-left media is only getting worse. ‘They’re OPENLY HIDING THINGS,’ Glenn says, and that's why we need BlazeTV now more than ever.
Below is a rush transcript that may contain errors
GLENN: Let me give you four stories here, if I have time.
Who told you this?
Who told you this?
Citigroup, Inc. HSBC holdings, MasterCard and Wells Fargo are among now the financial companies, that as of yesterday, are participating in the experiment, along with the New York fed's innovation center. The project called the Regulated Liability Network is conducting in a test environment, to roll out a digital dollar.
This is a pilot program.
We told you this was coming, how many years ago?
Everyone denied it. Every single member of the press, has been denying this. They have been saying, it's a conspiracy theory.
All of this. We told you years ago, that this was coming. Now they started, as of yesterday, their 12-week digital dollar pilot.
What does that mean? Don't go to MSNBC. Because they're not going to tell you. Don't go to anybody. You can go to our archives, at the Blaze TV. And find out exactly what that means to your dollar, if you don't already know. Let me give you this one. Congressman -- Congress were questioning Christopher Ray.
And Ray was testifying in front of the House Homeland Security Committee.
And during the hearing, lose Louisiana congressman Clay Higgins questioned on the extent of FBI involvement in the January 6 riot. He said, did the FBI have confidential human sources embedded within the January 6th protesters on January 6, 2021?
Well, Ray said, I've got to be very careful. We don't talk about what we do, and do not do.
And you have to stop listening to the suggestion, that the fib's confidential human sources or FBI employees, some way or another, instigated or orchestrated this January 6. That's not what he asked. He asked, did you have people in the Capitol, dressed as Trump supporters, prior to the -- the riot.
Yes or no?
He didn't answer. Is anyone following up. I can guarantee you, the Blaze is. Let me give you this. Please, cut ten.
This is a Bloomberg forum. Now, when you're talking about finances, Bloomberg. Right?
Bloomberg forum, Ken Griffin. He's the founder and CEO of Citadel.
He's talking about the FTX balance sheet. And how bad this scandal really is. I want you to listen to what he says. And then he has a pause. And I want you to listen to the Bloomberg, quote, reporter.
Listen to this.
VOICE: That all of us are worried about.
You know, on the balance sheet of FTX there's a line called Trump Loops.
And Sam was the second biggest donor to Democratic candidates.
VOICE: I'll leave it to everybody else to draw their own conclusions about what you're saying here.
VOICE: Those are really, really, really ugly facts when you --
STU: So weird.
GLENN: Why would you let everybody else -- this is important, why would you let everybody else come to their own conclusions? We didn't do that. I have a special tonight as well, as an extra podcast. That you can get right now, at the Blaze. It's 164. The story behind the FTX scandal with Marty Bent. And so we go into that. I'm going to go into it again, next hour.
This is a really big deal. Now, why -- wait. Wait. I can't get an answer in front of Congress. Bloomberg has a reporter. Well, I'll just let you decide what that means. Why? There's more questions that should be asked there.
Nobody was telling you about digital currency. CBDC. Central bank, digital currency.
It is absolute control of your life. And it's in testing with the fed and Citigroup and all the rest of them, today.
Now, let me give you another one. NBC has suspended their correspondent, after he reported on House Speaker Nancy Pelosi's husband, Paul Pelosi.
He said, there's a discrepancy.
The police and district attorney say that it was Paul Pelosi, that opened the door.
And was not in danger. And then walked back, to the assailant. And that's when they started fighting over the hammer.
The DOJ says, no. The police opened the door. Well, now, wait a minute.
Those are two very different things. And maybe -- maybe it doesn't matter. I think it does. But maybe it doesn't matter. But why is the district attorney saying one thing and holding to it? And the DOJ saying another thing, and holding to it.
And then why -- why did this guy, who works at NBC.
He has Emmy award after Emmy award after Emmy award.
Why is this investigative reporter, after he produces. Not goes live.
He produces something.
He didn't edit it. He didn't put it together.
He's not the editor the large, producer. Executive producer.
Everybody had to watch this. Tons of people put this thing together.
STU: Even like the graphics on the screen, describing what happened.
GLENN: Correct. Correct.
STU: It was not a five-minute process.
GLENN: No. This took a long time. Probably a good portion of the day for many, many people to produce. And then when it plays, he's suspended. For, what?
For what? That he got facts wrong. Because I can list a whole bunch of facts, that NBC got wrong. They'll even admit that they got wrong. And they lost their job.
STU: They promote those people usually.
GLENN: Yeah. So what is it they're trying to say?
Or is this just a message?
You don't question anything, when it comes to the Democrats.
I don't know. But that sure should be answered by NBC.
Because we just saw how Bloomberg answered it. You are going to get even less truth, than you ever thought possible. If you think the press is as bad as it could get today, it's not. It's not.
They are openly hiding things. I don't know if you saw the Hunter Biden interview.
So there's this crypto roundtable show. And the interviewer starts doing the interview, and he doesn't ask Hunter anything. Anything.
And he says later, that I couldn't. I -- I would have liked to. But I was told, I could not go into anything. Except cryptocurrency.
Well, you know Katie Couric had that agreement with me, as well, at one point. And she violated it.
Why didn't you, on your crypto roundtable show?
They don't want you to hear the truth. We at the Blaze, we were -- we were built on that.
The truth has no agenda. And we will tell you the truth. Because my agenda is only that.
We'll admit our mistakes. And tell you why we made that mistake. And how we corrected it.
That's rare. I would like to ask you again. I know times are tough. But please, subscribe to TheBlaze.com. This is a big special tonight. Cost us a fortune.
And there's no commercials in it, and you can watch it for free on YouTube.com/Glenn if you want.
But I would ask that you become a subscriber to BlazeTV.com/Glenn.
Sign up, one year of subscription, 30 percent off if you use the promo code Stand Up.
The far-left — and even some REPUBLICANS — continue to argue that ESG is just a theory and that it’ll never affect YOU. But the story Glenn shares in this story proves quite the opposite. In fact, new banking policies that are designed to allow more Americans to purchase homes could affect you GREATLY if it leads to another housing and economic collapse… just like the one in 2008.
Below is a rush transcript that may contain errors
GLENN: Let me tell you a little bit about The Great Reset. And ESG.
ESG is regarded to -- by many in mainstream media, as a hoax.
As something that just is not happening. Let me give you two stories, that have come out today. The first one is from Bloomberg. And it will show you how it is working, on the highest of levels.
And it is the E. Now, some people will -- will admit. Okay. The E is happening. Yeah. We're if we go to rid of fossil fuels.
So the E is happening. But not the S and the G. So let me give you the first one. The head of the World Bank came under fire recently, for not being tough enough on climate change.
This is, by the way, on Bloomberg. So now he'll go all in on ESG. World Bank President David Malpass caused for expanding the development lender's mission to explicitly include public goods, such as climate change. Weeks after his hesitance to publicly confirm his belief in global warming, led to calls for his removal.
So he's like, well, you know I -- I'm not sure we know all of the causes of global warming.
Everybody in the power players, they all said, he's got to go. Well, he didn't. Instead, managers at the Washington-based institution, will now review its operational model and financial model, to find ways to boost lending, including using more grant and blended finance.
Malpass said in a note to bank staff on Monday and seen by Bloomberg News. US Treasury secretary, Janet Yellen last month proposed changes for the World Bank and regional development banks, pushing them to move beyond country's specific loans.
To address global threats. And speed the flow of private Capitol to poor and emerging economies. The US is the world's largest shareholder of the World Bank.
Oh, okay. So they want to get a little more aggressive, in loaning money to poor countries. Okay.
Now, that's the E. Let's go to the S. We have actually people now in legislatures, Republicans all over the country, that deny ESG is even real.
October 24th, the FHFA, the federal housing finance agency, announced that lenders will soon be required to use two new credit scoring models. FICO 10T, and Vantage score 4.0. In order to sell mortgages to Fannie Mae and Freddie Mac.
Now, the FH -- the FA is the one that oversees the public/private institutions.
Remember, we're all about public private partnerships. So Freddie and fanny, what do they do?
They own most of the mortgages. They underwrite. They backstop most of the mortgages in America.
The government is on the hook for those. Your bank does not own your house.
Freddie or fanny most likely own your house.
Okay? And they -- if you're going to sell something to them, well, then they need to see the vantage score 4.0. Those quoting. These two new credit scores are deliberately designed to make millions more of people eligible to purchase homes.
Oh. Vantage score estimates that 37 million people, will receive a credit score under their new model alone. That are not currently captured by a FICA score. About 10.7 million, will have a score of 620 or above.
The minimum score for a mortgage, that can be sold to Fannie and Freddie.
Under the new credit model, people will be able to improve their scores, by engaging in activity that don't have anything to do with capital ownership or credit history. Hmm. What will they be scored on?
I wonder. A couple of things here. Stu, why does everybody, that you know lived through 2008, know the names Fannie and Freddie?
STU: They're central to the mortgage meltdown.
GLENN: Oh, they were, why?
STU: They -- partially, because they were giving out mortgages to people who didn't traditionally qualify for them.
GLENN: Right. And they were backed up, because the banks were told.
STU: You better do this stuff.
GLENN: We better get home ownership rates up. We need to have higher diversity rates among homeowners. So they gave it to people, who may be great people, but maybe didn't have the credit scores or the resources or the finances to actually pay them back. They were risky mortgages. They bundled them all together. They created all sorts of collateral -- collateralized debt obligations on top of them. And the whole house of cards fell apart.
GLENN: That's amazing. So now, 37 million Americans are going to be -- have the door open. And at least 10 million, almost 11 million, will have the score that now is about -- they can't afford a house now.
But when they improve their scores. By engaging in activities, that don't have anything to do with capital ownership or credit history.
They can have a higher score. So they can buy that house. Oh, that's great.
STU: So they're not going to have -- they're not going to become more creditworthy. They're just going to become better people. They love the environment.
GLENN: Better people. Better people.
STU: Another person who might have a higher credit score. But will give them the mortgage. Because they love clouds and the sky and trees.
GLENN: Right. Uh-huh. Uh-huh. Clean air. They'll be able to sell mortgages now to people, including many who are unqualified. Banks. And mortgage companies, will be able to do that.
And then immediately sell those to Fannie and Freddie Mac unloading the liabilities on the back of the banks. And instead, shoving it right to the taxpayers back. Banks and mortgage companies, will make truckloads of cash, without really any risk.
Almost as importantly, those companies participating in the program, are also going to receive a boost in their ESG score. Because they are now helping improve racial equity.
STU: So person A shows what a great citizen they are.
And then group B, gives them a better rate, which shows them, what a great citizen they are.
STU: And then since person A is doing business with group B. That probably raises their ESG score again.
GLENN: Yes. And then group B or A. The bank can sell it to you.
STU: Right. Yeah.
GLENN: And now it's on your back.
STU: Yeah. And I probably get a boost in my ESG score, just for taking on that terrible debt, that shouldn't be anywhere -- that shouldn't have existed in the first place. You know this sort of circuitous idea, that you can continually -- you know this is Schrute Bucks. You know, Dwight Schrute comes into the office one day.
And he has his own currency at his beet farm, and everybody is like, ah, this will work. Just keep spending Schrute Bucks on it. The economy does not work on Schrute bucks.
GLENN: No. No. This is going to make the housing market more unstable.
It will distort the market.
It will call another 2008 collapse.
You know, remember though, the people pushing ESG want you to own nothing, and be happy.
So let's think this through. What happens when you add 10.7 people into the housing market, without increasing the supply of homes?
More money in the market. Chasing fewer homes. That means, inflation. The price of housing will go up, a ton. And who owns a lot of the single-family homes these days?
Oh. Hedge funds like BlackRock. They're going to make out huge from this.
And they aren't worried about competing with those folks who are entering the marketplace. They don't even have enough credit to have a credit history. Never mind win bidding wars with BlackRock or other Wall Street firms. Here's the thing: Biden has bragged that this will make the market more inclusive, and that industry stakeholders support the moves.
This is great. Now, I want you to know this important part. This is not coming from me.
Vantage score, is selling their credit model. By making the promise.
I want you to go to vantage score.com/capital dash markets. Slash ESG.
I'll tweet this out.
But you go there, and you will see, creating social value through ESG.
Quoting their website.
Is ranting credit scores are often used by capital market participants. In both the consumer lending asset-backed securities market.
And the residential mortgage backed security market. You'll have leverage, the best in class accuracy. It will include the underserved. It will demonstrate a commitment to ESG. At some of the benefits. The key benefits, most predictive, best in class model. Credit scores are going to be updated in real time, allowing for rigorous surveillance processes.
Oh. So I watched the episode of the Black Mirror. Where your credit score is updated in realtime.
And it was a vigorous surveillance process.
STU: It sure was.
GLENN: That's on their website.
Anyone who tells you, this is a conspiracy, it's not going to happen. It's not going to reach down to you. It just has.
STU: Yeah. And, well, it has -- aren't there billions of dollars here? What are the levers of usage already?
GLENN: Yeah. Let me see if I can find it.
STU: It's not day one of this program. They're bragging about billions and billions and billions of dollars already being utilized by this program.
GLENN: Yeah. It was 8.7 -- here it is.
Is ranting scores used from March 2021 to February 2022. 14.5 billion.
Is ranting scores provided by consumer websites, 4.8 billion.
Is ranting scores used by credit card issuers, 3.7 billion.
So they are already using this. It's at Chase Lending Tree. It's at American Express. Capitol One.
Credit Karma. All of it.
All of it is being used right now. And they've been telling you, that it's just a conspiracy theory.
I urge you to go to VantageScore.com, and just peak around. Look for their credit scores.
Oh, it's so great. You can do other things, to qualify for a mortgage.
Gee, I wonder what those other things are.