morning show and cory booker let's watch
where israel as most democrats and from the democratic party agreement corey
parker indictment
with rockne mopped the japanese and not with brocco probably wealthy we're going
to vote for bravo bravo are interesting in this pension funds for investing
their i_r_a_s invested in wall street's the ideas of how the private equity on
wall street
are hostile to the quote-unquote ninety nine percent is absurd ninety nine
percent what their faith rises and falls with private equity on wall street by
the way is on the summit of the sasakawa people but one thing to happen on best
wise for you know it helps announcement employees isn't it
substitution it also up for him for unions it helps firefighters it helps i
mean that's that vein capital makes their money by public key means
investing in them
the with the california new jersey
and when they invest wisely
yes why
he's public unions and private investors
for profit
i love morning show
i know that sounds ironic right
and it's meant and ironic way
but i love them because they show you the permitting sample of conventional
wisdom
and establishment in washington d_c_
and in new york
they do a show where they say okay this is what washington believes it believes
is screwing the middle class in every way possible protecting the
establishment business and politicians e every way possible and in a good
exceedingly clear everyday so u wanna know what this tabatha that's falling
over things just ernie work turning a morning joe annual you'll have your
answer source uh... joe scarborough saying that
is safer slope of the first part is true
his most of the democratic fundraiser actually record while kerr and not with
president obama
absolutely right
in fact
he's so right on that
and geneseo who's running present no bomb was campaign literally when to wall
street funders and told them don't worry we actually are not going to run against
you at all we're just running against mitt romney and his business record we
will not attack private equity overall we will not attack wall street overall
because of course may get a ton of money from wall street
so when scarborough says democratic funders actually mobile cory booker said
that's exactly right and i guess like a little bit set
that was basically a giant national ad for cory booker to raise funds from wall
street and other large donors say i'll be your guy i'm your man
uh... you know right now i'm in newark but on the run for probly senator in new
jersey you've pouring millions of dollars and i'll protect your ass from
here to the rest of time
so spin
joe's right about that now the second part
wary then go on to defend
hamin richard haas is their uh... defending richly
is good news
you know went brain waves coterie where it's good you know that all those
pension funds and set up which is doing i think they make a profit what really
they're just doing for the rest of the country and they all profit
extensions sometimes they'd be delinked
so for example g_s_a_ steel
being put in eight million dollars may have out for a half million dollars in
fees
they take ap twelve million dollars in profit
and in the company goes bankrupt
how the world that they do that
well they do that
by buying it on leverage and then re leveraging at times
entail play from the companies that invest the impact of the company
they take it out and put it in their pocket and in the coming doesn't have
enough money it has invested in the south
it has and that any upgrades et cetera and has a much lower margin
companies are blocked by blown all that money some of the money that was for
what i mean the pocket in terms of profit but was never a profit
there was a lot
solak company goes under the minute it hits any kind of trouble because it
doesn't have enough of a proper because of the way that the capital bought them
out what happens
seventeen fifty people laid off
the united states government had to pay forty four million dollars to cover the
pensions not a hundred celebrations at most fifty percent of precious so
workers got screwed on their patients on their health care if they got fired
uh... the american taxpayer got screwed
and cheryl is that companies that were not being got screwed
everybody has to burbank but if he was in the morning joanne establishment all
babies just here to help you in the pensions and everyone else
except for when they don't except for when they profit awful all the rest of
our misery
now but you never did hear that are more injured
qasar job is to cover a nice little blankets of blanket
over wall street's acts
sick are is september protecting your answer now
that's morning joseph