00:00Shame on him. He is too smug, too self-absorbed, and too economically illiterate to know anything.
00:08Paul says that the Fed must stay above politics and the politics cannot get enmeshed into the Fed.
00:14I have become very frustrated with the Fed for refusing to do an internal investigation.
00:22I think all of this could have been avoided. I have been calling for an internal investigation
00:26at the Fed since last summer, and even before that. So there are two things at stake here.
00:35One, does the president have the authority to remove Governor Cook for alleged malfeasance?
00:43Two, did Governor Cook commit mortgage fraud? I am not sure why Chair Powell would go and support
00:53Governor Cook when the Fed has not undertaken an examination of whether she did in fact commit
01:00mortgage fraud. If she did, she is stealing from the American people every day because she has a GSE-backed
01:09mortgage. And as I've said before, it is very unfortunate that on Chair Powell's watch, we will
01:15have seen between four and six governors and bank presidents have to step down for ethical lapses.
01:23Now, four to six may not seem like much. That is out of 19. I can tell you, as someone who was on Wall
01:30Street, if you were the leader of a Wall Street firm, you would have a failure to supervise problem.
01:37So again, I think that his sitting in the front row of the Supreme Court is a political statement. And I agree
01:46with him. The Fed should not be politicized. He is politicizing the Fed. I went in my capacity as a
01:52political employee in the Trump administration.
01:56Governor calls you smug? Are you smug?
01:58Yeah, you know, I think it's I think it's very, very ironic that, you know, Governor Newsom, who strikes me as
02:09Patrick Bateman meets Sparkle Beach Ken, may be the only Californian who knows less about economics than Kamala Harris.
02:16He's here this week with his billionaire sugar daddy, Alex Soros. And the Davos is a perfect place for a man who
02:28sees this during the pandemic to his children. And he's saying that for instance, when everyone else was on lockdown, when he was having people arrested for going to church, he was having $1,000 a night meals at the French Laundry. And I'm sure the California people won't forget that.
02:47to crack down on waste, fraud and abuse.
02:51And I was told he was asked to give a speech on his signature policies, but he's not speaking
02:58because one of his economic policies brought outward migration from California, a gigantic
03:04budget deficit, the largest homeless population in America and the poor folks in the Palisades
03:11who had their homes burned down, he is here hobnobbing with the global elite while his
03:19California citizens are still homeless.
03:22Shame on him.
03:23He is too smug, too self-absorbed and too economically illiterate to know anything.
03:30Thank you very much.
03:32Let me know if you need any further clarification.
03:36And that goes for all of you, if you need any more clarification on that.
03:40Next question, please, gentlemen, second row with glasses, name and outlet, please.
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