Thanks, Country Club Guy. David Tice was complementing our work on CNBC one day and the announcer jumped down his throat and Tice wouldn't have it. He's like, "No, man, you've got that all wrong. Stansberry Research does the best work out there." It's pretty funny. But, anyway, here's the best part about GE.
I want to get to this. And I want to make sure that everyone hears me and knows that this isn't a mistake or a rumor. Okay? This is a fact. As I like to say, Google it. Mary Schapiro has been on the board of General Electric for the last, I don't know, three or four years. Anybody know who Mary Schapiro is? That name ring a bell? Hm. Former chairwoman of which government agency? Country Club Guy: FDIC? Porter Stansberry: The SEC [laughs]. So you're telling me one of the five largest corporate accounting frauds in history happened in the company on whose board sits the former head of the SEC. And I ask you, ladies and gentlemen, do you think that the SEC is really here to protect investors, or is it here to protect the bigwigs at major corporations and banks? And the answer should be obvious. Who's been sued by the SEC? Porter Stansberry. Does he manage any money? No. Has he ever managed any money? No. Has he ever been a part of any public company? No. What's he do for a living? He sells subscription information. Is that what the SEC regulates? No. [Laughs]. But what else does Porter do? Porter writes really nasty and annoying-but-true things about major corporations. Hm. Who's the SEC sue? Porter Stansberry. Who does the SEC not sue? Jeffrey Immelt [laughs]. Who commits massive securities fraud? Jeffrey Immelt. Huh. I wonder how all that really works. Buck Sexton: Can I give you – I actually put this one together and have been raising as much hell about it as I can. It's a similar thing here, Porter. You know Bridgewater, right? Porter Stansberry: Yes, I do. Buck Sexton: One of the biggest hedge funds in the world, right? [Crosstalk] Porter Stansberry: The largest hedge fund in the world. [Crosstalk] Buck Sexton: The largest? Okay. You probably golf with the CEO. I don't know anything about them other than they're really big. But what does matter to me is the federal government – we recently had the dossiers, the Democrat memo, the Republican memo, all that stuff. And I was wondering: why would James Comey – don't worry. This'll tie into what you said a second ago. Why would James Comey be on a seven-figure salary at Bridgewater Associates? He just left the Department of Justice. He has no white collar, criminal defense background. This is not what he does. And he was there in an advisory role. He wasn't even there as chief counsel or anything. Like: this is so weird.
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March 2019
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