Welcome to Softcore History. Welcome back to Softcore History. I'm your host,
Dan Rochester, and I am joined as always with Jake Goldman. Hi.
Hey, Hey, Dan, you're excited for today. I'm super excited for
a topic today. It's something that's not at all near or dear to my
heart, but I find entertaining. Yeah, the last two episodes I've done,
I've actually had to go topical. M it's not really my wheelhouse.
But we'll see how this goes. You know, it's an interesting case.
I like how you tell me that topical isn't your wheelhouse, as you advise
me on an almost hourly basis about stocks. Yeah, yeah, yeah,
I got I don't know much what's going on, and right now I am
simply regurgitating what I see on Wall Street bets, which could be a complete
lie. I don't know. It's I think it's not as cut and dry
as people are giving it. No, especially since you know there's six million
new users on the subredit right. The other voice you hear, of course,
is Rob Box Hello, Hello, what's up? Not much? Man?
Did you buy more AMC? I bought uh yeah, about eight hundred
more AMC eight hundred dollars more worth of AMC today than the capital Security buys
at ten. Well not in cash at fuck? Are you still in robbin?
Because they had money I couldn't take out yet, So it's like it's
like, all right, I've taken most of what I could get at So
I did the pro move, which no one else did. I bought in
a game stop at two sixty, sold like a little bitch at three to
sixty because I got him win, and then instead of waiting to like get
the transfer out, I put it all in dogecoin. God, and it
went from point to seven point seven football bullshit? Yeah, where you just
tell you about my gains and yeah the stock minac economics. No, this
was the dumbest thing I could have possibly done. Anyone that's holding dogecoin thinking
it's gonna go up is fucking stupid. Hey man, it's only been around
since twenty thirteen. Dog cooin, which isn't doge like a meme for dogs.
Yeah, it's a meme coin. Everyone's like old dude, dude,
sew it. I sold it when I tripled up on it, and it
slammed right back down to like where it was. You probably like one of
three holders, Like a third of the fucking value just jumped off the market.
It went up ten cents. You could have ten times your money,
dude, That's what I'm saying. It was at two point seven cents,
it went up to seven point four. I think it went up as high
as nine cents. It did. I set my market limit to triple.
It's like, cool, that's great, people hold it. There's nothing back.
You even bother to try to explain that to your wife or was it
just like, oh, I kind of said, like I did some babe,
I had more money. Now I did something stupid but it worked.
It's it's always like that's the way you tell people when you make a dumb
decision. This is all fake man. Yeah, and it's a fugaziazugaz.
Yeah. Oh there's a million people turning like ten bucks into sixty bucks and
thinking their gods a straw ape strong Ape Strong Together? Is that the planet
of the apes thing? Yeah? The new player of the apes ape strong
Yeah Together Together Strong? Yeah. I like how that's actually like they basically
just explained fascism really well, what play of the apes? Yeah, because
they're like see one stick it breaks multiple ape strong together. That's that's fac
dan. You're doing what I used to do. By the way you're gonna
from the flag, motherfucker. Well you see the way we framed it too.
I don't have a whole lot of room with the table. Move forward,
we'll scoot in. I mean we'll work on this later or fine.
Um yeah, I'm actually uh starting to bulk a little bit, getting close
to to hondo. All right, no big deal, nice little with a
twink. To me, I'm pretty thick. He's an break you in high
yeahs An, I think i'd say otter is pretty accurate. Yeah, you
might be too old to be a twink. There's no such thing as too
old. You could be like no, no, there's no such thing as
a fifty year old twink. No, that's a twink. Twink, twink,
what's after twink? Dead? M Yeah? Yeah, got you?
Got you? Well, yeah, I mean talk about the stock market.
He's completely made up, and uh, you know it's not much better than
our topic today, which is Enron. Yeah, if you want to talk
about made up stuff, who made up their own rules kind of just made
up as they went, the biggest rules company. They made up a fortune
five hundred company. Yea, they invented it. Yeah, I kind of
respect it. I respect the hustle of everyone there. And I just want
to say the most famous Enron guy m I Z Missouri alone? Which which
one was up? Leg? Yeah? Yeah, Kenneth lay Uh, one
of Missouri's proudest a lums. I'm more of a Andrew what's what's his last
name? At least can't possibly be more of his fan if you don't even
know his name? Right, we'll talk about this later, but at least
Leg gets out of dodge, right, Yeah, everything hits like hits the
fan. He Gary pinkled that ship. Yeah, he really just pass it
on the bar out of here that I got cancer. I have to go
personal reasons, he went back. We'll talk. Well, he kind of
I remember Lay being the main villain, and that was before I was even
at Miszoo, so like it wouldn't he was definitely Yeah, yeah, nth
Kenneth Lay was the most famous name in the Enron situation. Well, we're
gonna talk about it. Yeah, yeah, we'll talk. I would argue
that I will say this, I haven't done any like I like to now
just not do any research and live like that too, just put it completely
on the guy whose topic it is. Yeah, but my Pointeth, You
know what, maybe it's because I just grew up, grew up in Saint
Louis and I was in Missouri when this was happening that Kenneth Lay was the
most the biggest name where I was. Yeah, he was the biggest,
Like he was the head of it. He was on the board and he
was a CEO. Like I personally think the move's done by the CFO at
the time. The young gunner CFO are very interesting. So we're gonna have
the biggest moron of the group try to explain a complex topic. Yeah me,
I'm just kidding. Yeah. So um when this all went down,
of course and Ron was everything kind of hits the fan. In two thousand
and one, I'm ten. Yeah, we're ten years old at this time.
Years so like, yeah, you're an old fuck uh no, not
thirty. We turned thirty this year. Oh wow, birthdays like birthday when
we can part Yeah, stub Stock, welcome, welcome to the ship.
Welcome to you talking about thirties, Like, might have a little money in
our pocket now my wife or my wife and another friend of our Ronica,
who was on the program, was like, I feel like my thirties are
so much like I feel like thirties are the new twenties. And I was
like, well for me, and I'm super pumped too because men just for
the ladies. Yeah, men just age better. Yeah, uh like wine
first milk, right, Yeah, that's that is the most disgusting saying that
People say like that might be the most misogyny six saying well, you know,
people also to say like that, you also get that on like black
verse white and stuff like that. It's track well no, but like literally
it's like white people aged like milk, Black people age like wine. Its
basically just feel age magnificently until seventy. I feel like the wine milk thing
is magnificent. It's it's juxtaposed on a lot of different Yeah. Oh totally
yeah, because one age as well one doesn't, yes, right right and
uh yeah. So en Ron was actually founded in nineteen eighty five as a
merger between Houston Natural Gas and Inner North in nineteen yeah, nineteen eighty five.
That at that time they employed about twenty nine thousand people, so the
company was only twenty six years old when it went up in fro so Enron
was yes, and Ron. Yeah they're older, but I mean Inner North.
Kind of little backstory here, dates back to its found into nineteen thirty,
just a few months after Black Tuesday. Nice, so they got a
good track record with market timing. Huh dude, they killed for some reason.
So they cashed in on low cost of natural gas and cheap labor obviously
because everyone's looking for a fucking job in nineteen thirty yea, during the midst
of the Great Depression. H and over the next you know, for the
next two years, they actually double in size. Wow. They're one of
the few companies that actually do anything during the depression. Wow. Wow Wow.
So yeah, just give me a little backstory, a little yeah,
just kind of ease in on en Ron, because there's a lot a lot
to it's yeah, no, it's it's mainly accounting. Yeah, we gotta
make that cool. No, it's which it's really interesting to act. We
don't have Margot Roby to do, you know. No, I just sit
in a bathtub and be like, we got a mattress over here. I
can like take off my sweater and I can kick I can take my shoes
and socks off and just kick my feet up and be like, listen up
your cunts or whatever, Margot Robbie says, rob and I will be touch
ruddering each other on this mattress in the studio. I gotta say, that's
what we tag team. The explanation of that whole scene in The Big Short
catches me off guard because she never does her actual voice in any other movie.
No, I always never Australian. I always think of Margot Robia has
like just like kind of Brooklyn scum. Yes, she does the the what
the Harley Quinn accent for both Wolf of Wall Street and um Harley Quinn.
Right, So what movie does she actually do an Australian accent her actual voice?
I guess Big scene will Smith move she also does. She does Harding
very well too, that yeah, kind of midwestern. I actually hated her
as Tanya Harding really yeah, I liked it. No, I didn't like
it because Tanya Harding was this is I don't mean to like sound of horrible
saying this, but like Tanya Harding was like kind of chunky and trashy looking
later on in life. Yeah, I know, even then she was gross
like midwestern, and it was just slated. Yeah, that whole the whole
fucking thing with Tanya Harden was is even at the time, people were like,
who is this fucking Walmart trash crushing it? You know, I want
to trust like you The entire podcast is based on trust. Yeah, but
in the group though, like when it comes to tennis or ice, like
ice skating or like any obscure, stupid sport, I'm gonna trust rob here.
Yeah she was let No, people thought she was trash. But the
thing is that she was really powerful. She's thick. Yeah, this thing.
She was really strong in her legs, so she could do shit the
other people couldn't. Yeah, she didn't have like brittle ballerie, but she
was THI Margot Robbie is thinleans up well, Margot Robbie is thin and elegant.
Yeah, Tanya Harding is neither of those things. And they didn't do
it. You had to kind of like, yeah she didn't. Hardy crushed
all you can eat rib night Yeah, every night. And yes, because
it was a good bye Tanya Harding. If if it, if it had
existed back then, Tanya hart would have been a fixture at Buffalo Wild Wings.
Yes, sponsored probably time your heart. You know where ton your Harding
probably ate a lot sizzler shows shows for sure, Yeah, or Bennigan's fucking
Fried Shrimp Night she was at shown. Where was she from? She from
Flowers from Michigan, right, she's upper Midwest. I would almost percent say,
like Troy, Michigan. Probably Portland, Organ is where she was born.
Man, I don't know that's where she grew up. That doesn't matter
time. Yeah, this has nothing to do with Enron, So tell us
about Enron. Damn, I gotta I gotta look up her sex tape now
too. So she grew up in Organ, but whatever. The organ's pretty
backwoods in a lot of parts, and she was in a backwoods part.
Yeah, I mean she like by the time her sex tape came out,
she wasn't Tony Harding has a sex tape. Yeah, that was like years
after she was actually relevant. Is it? Have you seen it? As
family guy put it? Looking at it's gross but gross in a fun way
or something like that. It is kind of fun. Yeah, yeah,
looking at it right now, Well, it's like seeing the China xbox tape
RP China. Yeah, it's not like you're not jerking off it's a fun
fun to watch. We're talking about something. Anyway. I didn't like Margot
Robbie as to get to the plan, rob not a fan of right.
I mean, she did a good a job as she could have did.
The look was wrong. She's a brilliant actress. The look was wrong.
Okay, you need you need like you know would be you would Jeffer Lawrence
would have crushed it. Yeah yeah, but whatever. Yeah, but with
this kind of topic, I feel like we do need to you know,
pepper and some pepper in that. Yeah, we don't have again, we
don't have anybody to make cameos. Yeah, so I mean should we get
something anybody hair still Georgia? No? Okay. So over the next fifty
years, they start to aggressively expand dissolve smaller energy companies into their own.
So there's doing company stuff. Yeah, yeah, they're doing corporate murders.
Some acquisitions. Had a bit of a few gilling there for a bit with
Cooper Industries, after of course both being in the market to buy similar smaller
companies like krause Hines who Cooper Cooper ends up landing Anyway, what the fuck
was kraus Hines? So are they doing like a Facebook where they just buy
companies that are similar to them but smaller and might get bigger, and they're
just and like threatened them. So they're they're going like Frank Reynolds and always
Sunny Warhog War, okay, where he's just you know, consuming companies,
laying everybody off. Yeah, just taking everything that's under the Oh wait didn't
didn't People will like ding Romney for capitalism is what it's called. Like you
kind of gout a company, like you buy it, then you reorg it
completely and lay off a ton of dead weight. And that was Inner North
for like the first fifty years of their existence. Uh So basically someone's like,
man, there's a lot of money and being a corporate grave digger,
it turns out, yeah, they're just flipping companies. Really yeah, no,
I mean that's that's kind of like American corporate history. Yeah, essentially,
like yeah, just embalming. I don't even know, no, I
mean yeah, like there's it's a constant. Just if I could describe from
what I've seen with corporate America, especially with like commodity strading like enron Um,
basically that entire industry is a bunch of just like regurgitating and swapping executives
and just barfing up and sucking back up the barf of your spinoffs and acquisitions.
Dude, it is such a fucking circle jerk, And apparently, isn't
that Dan what they've kind of been doing with GM and AMC stock this week
is shuffling it back and forth and like micro transactions to suppress the price.
It's only allegedly if you look at like the amount of transactions that are actually
happening throughout the day, it's not a whole lot, and it's just it's
big numbers and it's moving the stock significantly. But it's really just like hedge
funds kind of going back and forth alleged. I mean, no one kind
of no one should be expecting to be rich from this at this point.
The maybe games game stop is still like legit. I was late on game
Stop. It sold on game Stop too early. I just want to make
an extra grand Yeah, I made I made enough. I told you guys
this weekend, I made enough to buy a bag of wheat. I bought
an ounce of weed that was well shit less than whatever the felonious amount is
in Austin. I bought that amount, and uh, yeah, I was
happy about that. It was free, yea. And it was at the
cost of a hedge fud going banger, So yeah, that's fine. You
didn't pay for the cocaine I gave you, though, and they're not even
going back. He just sucked my penis. He didn't pay for it.
You never I gave him cocaine, but he sucked my penis. He didn't
give me any money. What the funniest part of that joke is you giving
me cocaine? Rob would never know you parting ways with the bags too selfish,
I hope every one of your family members. But yeah, I mean.
And then you have a lot of media outlets kind of reporting fick news
like silver like people are like people have read it, are moved on to
silver, No, they haven't. Like this is obviously question. It is
having a trick, a trickle effect where people are buying silver. That's affecting
my life now, Yes, and you guess who has a major stock in
silver? Cit though, who is getting ass fucked by game stop big surprise?
It doesn't like at the end of the day, they will always win.
Yeah, there's nothing we can do about it. I'm sorry. You
can't short squeeze silver. It's silver, now, do you know what the
market cap on silver is? Also, like, just if you're gonna do
that, buy actual silver, don't buy go buy the bricks. Don't buy
SLV like that. That's not God, that's not real. And this is
coming from people that just got interested in the ship. So again I know
nothing about like, I'm very surface level. Yeah, I'm very surface level
with my knowledge actual stock. Typically, I would only invest like most people
showed and the stuff you know, yeah, like right, which for me
is like social media sportscambal. Yeah, okay, just to put a pin
in this, if you're listening and you want good stock advice from us,
I'm gonna give you the best stock advice you can get. Buy it and
hold it. You are not a day trader. Yeah, if you were
listening to this podcast, Yeah, and you don't have your series seven,
buy the stock you like and hold it yep for a couple of years or
yeah, and don't Yeah, capital gain SAX. When I was when I
so, the last time until I've had this job now, the last time
I had consistent income at a job I liked, Aka, I felt safe
in my income enough to like regularly invest in stocks or whatever. It was
grand x right TFM back in the day, and back then, I was
buying a couple of things, Twitter because I liked it and m oh,
this is mic was good. It is good. Okay, it's Twitter because
I lie. And another one was Starbucks because starts isn't like what this is
like twenty sixteen or something like that. Star Wars is only like, um,
fifty eight dollars a share, and I was like, well, where
the fuck is Starbucks going? It's not going anywhere on up. Yeah,
it's Starbucks, right, And Twitter, I was like Twitter was between like
thirteen and twenty at the time. Even Facebook was one fifteen. I had
money in that, and uh yeah but when Facebook went IPO, they they
kind of tripped on that. Good it's a discount discount. But no.
But like here's the thing, though, Like if I had, if my
if my job situation had not gone in flux between twenty seventeen and essentially three
months ago, right, I would have probably kept investing in those companies which
are all doubled and tripled up, right of course, to which is to
your point, yeah, hold it, hold it if it's a company you
think is repeatable and you don't think it's going away, and it's something you
use and you think it's valuable, Like people, what the fuck is replacing
Starbucks? What the fuck is replacing Facebook? What the fuck is replacing Twitter?
Or even what the fox's replacing AMC route? Nothing? Honestly, yeah,
nothing right now, nou and more to even industry relevant. Industry relevant.
I should have bought Shopify stock when it came out, yeah, because
I was using it every fucking day. Yeah, and now it's quint tumpled.
I don't. It's it's worth so much, right, I think?
Do not Never looked at Twitter stock is quintupled when I was buying it in
like twenty fourteen. That's the worst thing you can do is to just be
like, oh man, I could have I could have got in on bitcoin,
like I said too on Twitter. The reason I didn't get it on
bitcoin was because I heard about it from a guy doing whippits on his couch
in the frat house, and I was going to take financial advice from that
guy. There's nothing wrong with that dude about all this. I'm on a
whole fucking whip cramp. Yeah, I'd probably take from him over most hedge
funds I got. I have a friend that literally had bitcoin in his wallet
to buy drugs with that he forgot about. And now he's rich. Now
he's rich. That's sick. It's awesome. I'm happy for form. Don't
expect that to happen to you. You're just I wonder how any just like
meth millionaires, there are oh probably Molly Well, they probably don't even know.
You don't into it's a hard drive another Yeah, probably, So tell
us about Enron. What else happened? All right? So Houston Natural Gas,
which is the other company that kind of collides with Inner. We'll get
to it, but that form forms Enron found in nineteen twenty five. They
really hit their stride from nineteen sixty seven to the late seventies when an unregulated
Texas natural gas boom surged. Yeah. So um during this time period and
moving into kind of areas of time that we're familiar with, natural gas and
energy is getting more and more deregulated the market. That also is right around
the same time as the gas crisis. Yeah, so I wonder if that's
the can do it? Well, here's what happens, right. So it
ends with the Natural Gas Policy Act of nineteen seventy eight and the price of
natural gas rises too high for client and they switch to oil, which they're
originally founded as the Houston Oil Company, which is why I'm wearing this Houston
oiler hat. Oh nice. And so this is at the back end of
the Carter administration, which is halfway through seven eighths halfway through. Yeah.
Yeah, it's the back end of his one term. And I think that's
the time where we're doing gas strikes as a or there's gas limits, like
people can't fillip. It's a gas crisis. It's yeah, so like people
can't even get gas for their car, like gasoline, which means there's a
crude oil crisis essentially. Uh. Yeah, No, the Middle East is
like fucking us over, yeah, because we are people. People bitch now
about how we're not energy independent, which we actually kind of are. We
get we get most of our oil from ourselves. We export oil at this
point, we are an oil export now. Yeah. Fracking, yes,
helps. I never understand why I get like, I get like, well,
it calls us some earthquakes and there's some groundwater pollutions. But backing is
fucking evil. How poisons water? Bro Jesus Christ, Yeah, no,
it up. We used to be like in the Middle East and like Venezuela
gunn tore fucking head. They had all the oil, right, we did,
We have done a lot. You don't need to fract to get water
or to get fucking oil. You get it. You get oil and you
get natural gas. It drives, It has driven down fucking both oil prices
and UH emissions. Right, fracking is made us cleaner. It's not a
long term solution. You can't do it. It's you castle fossil fuels.
No long terms, you can't you. We should not be fracking. One
hundred years from now, we should. We should still probably be fracking,
like twenty years. You want to really get into it. Electric cars are
run on coal essentially, No, they don't. Coal is going down and
they're running. They run on fucking natural electricity. They run on an electricity.
We want to get into renewable energy. Myths like let's go No,
we're not doing that. Let's talk about run we are. Let's talk about
it, all right. So Inner North Inner North by the eighties was in
danger of a corporate takeover by Irwin IRV The Liquidator. Jacob's such a good
name. Yeah, the Liquidator. Why is that not a pornoe day?
I'm sure it is right somebody, somebody did he get the pussy's wet too,
you know? Or the assholes whatever? Everything's wet, Yeah, everything's
wet with the Liquidator, everything is fucking wet. It's a fire sale and
everyone's wet. You can do your own research on this scumbag. He's worth
mentioning because he's a major player in the fuckery of the eighties. Wait,
what else? Did I want to know? They eventually have to pay him
three hundred and fifty million dollars when they are in ron to essentially fuck off
in what year? In what year? What? What year? Do they
pay three hundred and fifty million dollars to fuck off in the eighties? Late
eighties? Okay, so probably like eighty nine and IRV had I mean,
so he just to avoid from because he he did what they did in er
North did in the fifty like that fifty year stretch where he's just going from
company to the company and hogging him. Uh, they fan three hundred fifty
million dollars to fuck off? They actually absorbed Houston Natural Gas. Like that's
a play so he can not take over. They're just trying to expand.
Yes, so it's probably they paid the merger where and Runs created. They
paid him seven hundred and thirty million dollars to fuck off in today's money.
Holy shit, that guy was probably a billionaire. That guy probably died a
billionaire. Oh yeah, from getting well he died. So he died in
a good old fashioned murder suicide. Oh, then he was definitely a billionaire.
He killed his wife and then killed himself. How do you kill your
wife when you have a billion dollars? I'm sorry, should insane money buy
happiness? Jake? No, but you can leave get rid of half of
it. Who cares give her half? You still have a half billion dollars
and you just actually maybe insane when you have that much money. Oh no,
I think that the on a limit is reached when you have god amounts
of money. Like that's why you see all these like elite people get tied
up in like very nefarious sexual shit like kids and stuff like that. This
is left because it's like, well, society says I can't have that,
but my wallets is going to have whatever I want. I just don't understand
it, noblest No, I would find something else to do that wasn't torturing
people. I honestly, like truly, if I was a billionaire, I
would build a green city, even a five hundred millionaire. I wouldn't actual
acon city in Africa. I would go on like nice vacations. I'm not
aware of Akon City. No, I don't want what you're talking about.
I want to hear it's a legitimate city that Akon is building with. Akon
wants to build like some Waconda shit, or he's building Wakonda right now.
Yeah. The problem is is that no one can build a Wakonda. Yeah,
let alone Akon. He's got Richard Branson on his side and Elon Musk.
Have you heard of them? Yeah? I have. They can't do
that. Did Tony Stark build a Wakan No, Tony Stark barely built one
arc reactor. Tony Stark didn't even know about Wakanda for right half the fucking
Harbably universe. We still really got to do the Wakanda getting gentrified once they
open up thing. Oh my god. Nope, Yeah, none of the
Wakandan's gonna afford the liver. We're opening it up to the world. Mistake.
That's all you right now, Wakanda. They said that an Avengers Infinity
war. They were like, don't California, ma, Wakonda, that's what
would happen. Yeah. I was actually just talking to a conservative friend of
mine right before we got on air about how there. He was just annoyed
about how like he because The Daily Wire was making a movie and I'm gonna
bring this background into the Marble universe, which is why I talking about this
and uh about it. He's like, glad conservatives you're making movies. He's
tired of like liberal throwaway lines. And I was like, to be fair,
not that I don't disagree with Like, no, I don't disagree with
you. That's what you don't watch letter, k now. I was like
to be fair, not that I don't disagree with you. There are a
lot of like he complained about, like throwaway lines, shitting on conservatives just
for like cheap humor or whatever. I was like to be fair. Though.
The highest highest grossing film of all time came out in twenty nineteen,
and the two main characters were a white billionaire with a hot wife, and
a daughter who privatized the defense industry, and another character named Captain America.
Yeah. So I was like, I was like, I don't like your
complaint is not unjustified, but there are other places, right, Like he
was like, why I don't watch superhero movies. I was like, okay,
well still they're the most marketed movies. Maybe a billion human beings saw
what I just described. Yeah, the only reason AMC would ever come back.
And so Dan keep telling us about this darling of a company of Enron.
Yeah, of course, you don't have to keep telling me to proceed,
Dan continue, Dan, Oh you're talking to the microphone now. Uh,
I can sit wherever I wanted you can, but you can't. You
gotta still talking like towards the mic. Still love mic. Just be a
pro one time, one time. So obviously kind of works in their favor.
Tusta Natural Gas is kind of struggling there and that early to mid eighties
because of the kind of pivot and inter Norse just eats them up and they
come together. The company was initially hnng Inner North, Inc. But you
need a better name obviously, Yeah, you got a ready brand. So
they sent a Crisp one hundred thousand dollars on focus groups. In the name
into Ron was suggested enter Ron the Way, featuring Earl the Liquidators, finally
with another man, Earl the Liquidator Campbell. But yeah, they believed it
sounded They believed it sounded too much like an intestinal tube in the human body.
Sounds like something to do with an intestinal tube, which is also full
of shit, entering entering Ron's intestinal tube. They ended up shorten it to
Enron because they thought it sounded better. It does. They were right,
They were right. One sounds like an act. The Enron logo was actually
one of Paul Rand's last designs before his death in nineteen ninety six. The
E. Paul Rand was a massive name in the graphic design world back in
the day. He designed ABC, the logo that currently use the circle crushing
it forward. It just spelled forward with a you know, written letters inside
of FU. Yeah, you're not wrong, IBM also letters but square for
that one, or was it? IBM? Was just it? It's got
like the streaks. Yeah, yeah, and he got a little crazy,
got a little modern. Safe to say. This guy could spell ups for
you. Whoa whoa? Only two curve sides it's it's amazing. He could
spell companies that are letters hey man, you got You're right you do?
And colors ABC, black and white. I actually don't think he often had
to pick colors. Oh my god. Copywriter and and logo designer must have
been the easiest fucking job in the world before photo shot. Um, before
everyone could get Adobe on their computers. Yeah, because there's only like nine
of you in the world, and it's just like, here is what I
did. You just have a monopoly on Photoshop at that point sketched it out?
Um yeah, no, okay, so uh so in here's kind of
the first sign of some sketchiness by Enron, other than you know, the
sixty plus years before that under the name Enron at least, right, So
this is the instpt Ron nineteen eighty seven, en Ron reports eighty five million
losses from Enron Oil. The true number is actually about one hundred and ninety
million. Why would they report less tax less? Uh it's concealed until nineteen
ninety three. Uh they I don't know why. I guess for stock purposes.
Yeah, because we are you getting money back if you were like the
reason Donald Trump would have released his fucking taxes is because he was reporting losses
every year. Yeah, so he wouldn't have to fucking pay taxes. I
think it was just to like ease to you know, shareholders, And can
you clarify this for me? They they reported eight hundred and whatever. No,
they reported eighty five million. They actually lost one hundred and ninety millions,
So they're probably trying to protect us. So the way I heard it
was a different way. Sorry. Yeah, so they were they were lying
about how much they lost. Yes, okay, so uh. Nineteen ninety
three, two Enron Oil execs plealy guilty to fraud. One actually serves shell
time. It's just kind of one off story. Who sends who sends CEOs
to jail? No? One, It's stupid. In nineteen eighty eight to
nineteen eighty nine, our boy Kenneth Lay comes into the picture. Yeah am
z. Yeah yeah, and he starts to ramp up electric power and natural
gas again after a come to Jesus meeting in nineteen eighty eight, and they
start their expansion globally with the electric industry going private in England, which is
wild. Uh why is a wild? Yeah? A public utility being privatized
that sounds like run of the course here. Yeah, but like when can
the US So he Enron becomes the first US company to construct a power plant
in the UK and they kind of run the English electric and water. Okay,
that's what That's not wild? I mean, that's it's happening all over
the world right now. China has invested so much infrastructure in other continents,
like power plants, which is failing apparently. Oh really, I didn't know
that. Yeah, Belton Road is a fucking disaster. Oh man, it
was such a good setup. Okay, not wild. Then they're trailblazers,
yes, okay, I would put it that way. They also have a
fifty six million dollar power plant project in Argentina during this right period, so
they're going they're going quite years. This is eighty nine, okay. I
was like, they are they building stuff that the Brits are going to bomb
at Theolan? Didn't it was Falkland time? Yeah, well that's isn't that
like a weekend? That was like eighty two? Yeah, I know,
one that long? Yeah, because Argentina gets their ass handed to them for
yeah, because it's the Falkland Islands. Well, because it's England. Yeah,
it's Margaret Thatcher wants to win. They get fucking fuck easy. W
Yeah, and n launches uh gas bank that will be run by CEO Jeff
Skillen in nineteen ninety. And this is kind of where you start to see
the the shitty the ship head stuff. Yeah. So it allows gas producers
and wholesale buyers to purchase firm gas supplies and hedge the price risk at the
same time. Right, and also explain that to me like I'm five,
because I didn't read any of this and I'm a little drunk. Okay,
go ahead, Jake, I'm gonna I'm not gonna explain the part he should
have said. I'm gonna explain what's happening. So Enron's kind of trying to
compete against like large trade banks for not only you know, so they're supplying
uh, these gas companies things and stuff like that, they're also allowing they
are now trading futures and gas. Yeah. So there, this is kind
of where they pivot from actually being a gas producer to kind of like a
gas bank where they're just offering options and they kind of like, so their
money has become imaginary. Yeah, No, they're manipulating the market, which
is more important than actually producing the gas. Right, so they don't have
a product anymore. Well, they're starting to get away from the product.
They're focusing a lot on trade okay, yeah, um, and not on
a commodity the level features, like the actual product is becoming less important than
the idea. So they're buying SLV instead of bars of silver. Right,
it's like it's you know, it's very energy. It's not about the energy
drink. It's about getting somebody under you, and they get another person.
Okay, no, it's it's not a pyramid scheme. They're starting to trade.
They're starting to trade in phony Bologney instead of actual Well, they're trading
in gas oil and gas features. Yes, sure, fair enough, whatever,
and they trade futures, options, New York Mercentile Exchange and over the
counter market using financial instruments such as swaps and options. Right. Uh,
let's see. They eventually their gas service eventually morphs into Enron Capital and Trade
Resources. So this is a full pivot. No, yeah, right,
Jeff Skillen hires Andrew fast All. Remember that name. That's a big name.
It's a big name. That's my I'm big fanboy. He's from the
bank, and he didn't know his name until Dan just said it. I
know, but I read it earlier. Everybody knows Kenny Lay. Speaking of
which, Kenny Lay the liquidator. This is a porno film enter Ron,
right, featuring Nay and the Liquidator. Fuck, dude, this is a
porno. Yeah, that is the name of the episode. There. There
has to be there's a thousand percent in en Ron parody porn, right,
I'll look it up. Yeah, there's gotta be la up five seconds.
I'll be disappointed. Yeah. They adopt mark to market accounting practices, report
income and value of assets at the replacement costs. So I found Women of
m Ron. Okay, and real real quick, Rob, While you're looking
that up, Playboy, did it Women of Enron? Do they like bankroll
women that got laid off and have their pensions crushed? I guess I think
so. I gotta that's that's the most ninety story I've ever heard in my
wife. Yeah. Um, and just to talk real quick about mark to
market accounting strategy versus reporting what's on book an asset or here here's the cover.
Here's the Playboy cover Women of Enron. There it is nice. Hell
yeah, that is a Houston lady. Yeah, yeah, which is where
they're headquartered at this point. Yeah, so, Andy Fastal forms the first
of many off balance sheet partnerships for legitimate purposes in nineteen ninety one. The
off balance sheet partnerships and transactions will become a way for money losing ventures to
be concealed and income in reporting to be accelerated. Yeah so, just like
Layman's term, just cooking the books. Yeah no, well, okay,
so that's early as nineteen ninety one, our boy, Andy, here's cooking
books. I'm gonna explain. I'm gonna market, go Robbie, this real
quick for Yeah. Yeah. So en Ron switches from reporting what their assets
are like their liabilities and their current assets and what's on book, to mark
the market form of accounting, which is their accounting for future potential. They're
putting in their books potential realized earnings. They went from having an actual product
to talking about potentially having probably they can Yeah, so say you have um,
you know, you're building a power plant in Argentina. Right, Fathom
needs took a took a second. Fathom needs rob Pound needs um the Playboy.
Yeah. Well, first it was just showing the cover. Yeah,
but this is the women of Enron. Okay, so like secretaries of Venron.
I don't fucking whoever it was. Yeah, and they needed money because
they got sucked by their overlords here. But you got good on Playboy for
being like, yo, who wants they stepped up to the plate when that's
women wear need So yeah, did Playgirl do that? No? Probably not
ven they're the ones in jail. They really go to jail all that money.
But anyway, so the marks of market process is where you're putting on
your books your potential revenue from investments. So like say you're building a power
plant somewhere and you're like, well, in this amount of time, that's
gonna be worth a billion dollars, right, and this is this is an
exact addation. Say it's worth two hundred million dollars, So you put that
two hundred million dollars in potential realized earnings on the books. But also what
they're doing with Dan is talking about where they're having off book dumps for accounting
losses. That's called an s VP or an SV. So basically there would
be an they would create a company. Yep, they created a bunch of
LLC's Yeah that they would. Okay, if they had a venture that was
not earning money, they would those companies would would be completely capitalized via Enron's
stock. So what would happen is these companies would take on the losing venture,
but they would also borrow from banks using Enron's stock. So here we'll
put it in better terms for you, easier terms. Remember Greek life,
fraternity life, where you wanted to kind of like bump up that GPA,
so you would just take off any brother that had a shit GPA. Yeah,
same thing, right, here's getting rid of all the bad GPAs,
which, by the way, take them off your roster. Where do you
think that, guess and the fraternity go to work? They all, yeah,
no, that's a very good comparison. But then imagine those guys with
the lower GPA have their own little side frat that is also owned technically by
you, the main frat, and now they're leveraging the good GPA of the
main frat to get money from um a bank, right say, banks lend
on pa, and so they're using that first GPA of the like the good
GPA you just cooked, in order to get money. But the only way
they can pay it back is by raising their GPA, and they do it,
and they're borrowing against the GPA of the main frat and that GPA is
also going down. So the bank's like, well, where the fuck's the
money? Like it's that's a really convoluted way of explaining it. Pretty fat
though. Yeah. So the subsidiaries that Enron is creating the offl of their
losses on or borrowing money using Enron valued stock. Yeah, and they can't
pay their fucking bill. Oh so I'm sorry. The the extraneous frat guys
that got cut out of the original are borrowing money based on the GPA they
got caught out of in the first place. Yeah, so's like, hey,
we also have a three six, but they have a two eight right,
Yeah, so they have a two eight frat because those losses aren't being
So this is a misvalued company at this point. Yes. So there's nothing
technically legal about SPVs, like the special whatever it's called special whatever the pace
stands for, the penis vaginas. This is this is a porno special penis
vaginas, uh, the special whatever entities. There's nothing technically legal about them.
The illegal thing that they're doing is that they're leveraging all of the Enron
stock to borrow money with, and the Enron stock is misvalued because they're just
dumping. And then when it's finally uncovered, you just kind of throw that
little side fraternity under the bus, right, and they take all the blame.
Yeah, so well as well you should. So the subsidiaries would be
like, hey, we can't pay this luan back in and I'll be like,
oh no, what you're talking about, see you later? Nice?
Yeah, So that was shitty. Um. But so this was all done
under the tutelage of Andrew Fast though he was like he was named Andy.
Yeah. So he got started at and Ron at twenty nine years old and
by thirty eight he was the CFO there and he was the kind of protege
to Scrilling right or skilling, Yeah, skilling, And so basically, from
what it sounds like, it was, don't you eat the shit for me
and only tell me good news, and so he and you will work your
way up, yeah, and he did. He did a bunch of bullshit
to get there, but he lied in order to make the books look good
and to make his boss feel happy. So he became CFO. Yeah,
that sounds oddly relevant. I mean that's like half the companies I've ever worked
for. You lie about shit? Yeah, I mean obviously you're not defrauding
clients while doing it, but just numbers are watching employees think in companies like
yes, unless you're an accounting for everyone's full of shit. Well actually accounting
for him to get into this too, Anderson, but go ahead. Sorry,
Like anything that doesn't have a product, you can probably just that,
like you pretty much when the product is their numbers. Oh yeah, you're
assuming you just look at them social media numbers we do. That was a
problem and also lie Yeah, like it was. Those numbers were bullshit,
Like what do you mean everybody numbers like traffic and stuff like that, Like,
yeah, well we didn't inflate him though when we were getting views on
when we were getting hell of VI's on like Facebook at like TFM and shit
like that. Yeah, that wasn't none. That was Facebook doing that,
right, We weren't the one. Yeah, although you could, but the
argument is there that that was the product, was the views that you were
offering the platform, right, So those were inflated, right, Although a
lot of the views you could I guess get we're even bullshit, Like if
you paid, you know, to promote it, Yeah, you could get
like fifty fifty bucks will get you like two three x views. This is
actually a good transition because in nineteen ninety seven, en Rond constructed a thirteen
hundred mile fiber optic network between Portland and Las Vegas with an HQ in Vegas
under the FTV Communications LLC to quote unquote own the Internet tight in what year?
This is nineteen ninety seven? Ok? Yeah, so I want to
think that that's just a bunch of dudes drinking scotch, Like, how do
we commodity make the They fucking built it, and they sought to have all
US Internet service providers rely on their Nevada facility to supply bandwidth, which Enron
would sell in fashion similar to other commodities. Yeah, so they're trying to
monopolize the Internet before it's ever the Internet, which is these people are I
mean they're fucking sid dumbassies. No, No, I mean they're definitely.
There's good projects and bad projects. Is there anything more predictable than the Internet
popping off? No? Like really, Al Gore called it. I don't
understand someone have to explain to me one day. But like the dot com
boom, you know, and then bust, why would it ever bust?
Well, it's because people were like it was based on traffic, right,
the people were selling websites based on traffic members. A little counter at the
bottom of the websites. Yeah, that's why I love that. That's why
that was there. Yeah. Yeah, but the thing is like angel fire
website. But the thing is like I mean, I guess with some of
them, know, but like with other ones, you know, like we
talked about earlier just hold yeah, well and by by the dip well one
of the things too. I think the internet's dead. The internet didn't die
in two thousand. The way the stock market works, though, is once
something gets a momentum, it becomes it no longer represents the thing it's representing.
It's representing the value that people put on it. Yes, and so
that's the like the dollar or anything else, right, yeah, but that's
the gold for that matter or no, no, but even go back to
like go back to an actual solid entity. What is gold actually worth before
electronics? It's shiny and rare, that's it. Sometimes it's heavy, that's
fucking it. Now it's actually more valuable than it was. Yeah, because
because as a use as prospective properties. Yeah yeah. Uh so January two
thousand, We're gonna kind of jump around here at this point because there's just
so many different timelines. But Kenneth Lay and Jeffrey Skilling announced to analysts that
they are going to open up trade for their own high speed fiber opic optic
networks that formed the backbone for Internet traffic. Which is fun because at this
point, if you had that high speed internet, you'd throw your phone through
a fucking wall. Yeah, it would be so mad. It's like when
people a, yeah, shit, it only takes ten minutes to download a
song online wire Fuck no, it takes a fucking day. Like, yeah,
you go to school, you come back, your album's downloaded or it
fucked up. Yeah, that porn you're downloading, or it's just it's been
going all weekend. Yeah, without any preview. You get to watch that
two minute clip. Uh So this causes uh, their stock to kind of
skyrocket, goes from forty dollars a share in January two thousand to seventy dollars
per share in March, and it peaks in the summer of two thousand at
ninety dollars to share, right, which is fucking insane in two thousand and
keep in mind this is all while they are offloading losses on a subsidiary,
so they're like totally not reporting. So they're also reporting earnings based off things
that haven't happened yet, and that's where this money is coming. And the
best part of one hundred one hundred thirty five dollars a shared today and a
lot of these exacts are just kind of unloaded in the stock to oh and
just making millions of dollars. Yeah, because it's getting pumped. They're they're
they're pumping and dumping their own stock. And then what can you expect from
a porno but a pumping dumb Yeah, I mean it has all the makings.
It's so easy to just make an end round porn. Yeah, you
got pumping Ken Iron, Ken Lay the liquidator, pumping and dump and well,
in February two thousand and one, our boy, Ken Lay, I
think he sees the writing on the wall announces an early retirement. Well,
you know, he's a smart tiger. He gets out of fucking dodge.
He gets those on the board though. Yeah, but his hands are clean.
He's punch his pilot before anything happens. Yeah, he asked the crowd.
Yeah, that's it's not bad analogy. Punch pilot did wash his hands.
I don't blame pilot yet, skiing because in punch his pilot's fault.
Jake Skilling is president and CEO of Enron, right, and in February,
Skilling held the company's annual conference with analysts, bragging that the stock, then
valued around eighty bucks, should be traded at around one hundred and twenty six
dollars a share. So he had a to the Moon speech. Yeah,
very yeah, very own brand for the day. Yeah. I bet he
said the same thing too. He's like to the moon rock. By the
way, the worst part about the to the Moon analogy is that uh Ralph
Kramden never sent his wife to the moon. What do you know, honeymoons?
Yeah, I'm gonna hit you so hard you get sent to the moon.
But he never sent her to the moon honeymoonters reference. Okay, yeah
that would have. For a second, I'm bringing back kingsman. Um,
we're gonna talk about world. Yeah. So the head of the Enron Broadband
Services, their new little pony Kenneth Rice ends up selling one million shares himself,
earning about seventy million in returns. As presses of existing fiber optic cables
plummeted due to vast oversupplied the system, with only five percent of their forty
million miles being active wires. Right Enron purchased the inactive dark fibers, expectant
to buy them at a low cost and then make profit as in more usage.
They call these dark cables. They're saying like, oh, we'll get
to those, like we're gonna they're gonna be useful in the future. Here's
my question though, would they be like does bandwidth matter with that type of
shit or because the because like essentially every year I feel like the the the
bandwidth mean it's not like double, it's like exponential, you know what I
mean, Like it's it's I think for the purpose of this episode understanding what
they're doing with the well, we'll get to those later. They're also all
that shit they're not using or activating. They're saying they're putting on book potential
revenue from it later on. Right, Okay, so that's what's making the
stock go on. Right, They're saying they're making the money now, rather
they're not. Yeah, and that's why they shouldn't be using that accounting system
because they have real losses and unrealized gains. And these fiber optic cables were
actually awesome. They were like they were just ahead of their time. They're
a little too early with that. So again, were dark fiber. So
they couldn't use the BR headset for a PS four in nineteen ninety nine,
that's how good they were. No, it'd be like making a VR headset
for a fucking Super Nintendo or sure. Yeah, it's but what I'm saying,
no, it's kind of like for a PS four because the PS four
isn't around yet, right, so you're making an accessory for it like this.
It's it's so far ahead of its time, it's stupid. It's two
ahead of its time. Yeah. Actually, uh, it's at you know
what, It's like, it's like creating space force, yeah, which I
don't. It's not I'm not even knocking Trunk Trump for that because honestly,
like, yes, we're going to actually need sure something in space. But
it's the equivalent of h I've said this on Twitter with horror. It's an
equivalent of m Abraham Lincoln inventing the air force, and it's just like tying
cannons to to hot air balloons. It's a guy, you know what I
mean, It's a guy with a top gun. No, there was no
time that was World War One that was the actual air force. This would
be like like space force now is like this Civil War air Force, which
is literally like putting a balloon in the air and tying a cannon to it.
Yeah, and just sh firing that cannon off. I get. I
don't even fucking know. Yeah, like really like it's yeah, yeah,
like it's not like it's like yes, Abraham Ley and you are right,
we will one day need air superiority. I don't know necessarily why you're No
one's gotten off the ground with plane yeah yeah, yeah, right, like
it's like with now with Trump, Like, yes, don't drup. You
are correct. There will be things fought in space, probably sooner than we
think, with people or machines or something. However, no one is even
close to doing that. You guys think thunder is from lightning. Huh,
it's from the space wars. You don't even know going on. That's fair.
God is as fair enough. So in March twelfth, two thousand and
one, the second domino kind of falls a proposed twenty year deal between Enron
and Blockbuster. Yes, to stream movies. This was the wildest thing.
Say that again, Sorry I cut you off. This is the wildest fucking
part. Yeah, Enron and Blockbuster had a deal, twenty year deal on
the table, what year, two thousand and one to stream movies on demand
over Enron's connections. They were doing their own Netflix there. This would have
saved Blockbuster. Yeah, save Blockbuster. Blockbuster wasn't even in danger yet.
Yeah, Blockbuster was peaking. This would have been No Netflix ever got invented.
Netflix doesn't exist with this. Yeah, this is this is crystal ball
shit. Ye right. In two thousand and one, so TV to give
you an example of this, it's the butterfly effect. Almost In two thousand
and four, my family and I went on vacation to Los Angeles to visit
my uncle, who is a writer and producer did full house. Lived in
the Hollywood Hills in a multimillion dollar house. This is a legitimate Hollywood producer.
Blah blah blah. He was renting movies via Netflix in the mail at
that point, which was like kind of new right, Like I remember watching
literally like City of God, you know the movie, Yeah, as City
of God in his house he had a mailed via Netflix. City of God
also one of my favorite movies. Yeah, it's fucking rat. But here's
the thing, like Netflix was all ready like people were into that, already
into home demand movies. Yes, three years before that with the biggest Netflix
was like very small three nine eleven. This was pre nine eleven. Fucking
bananas. Yeah, because nine to eleven we did a show on ancient Samaria,
and as far as I'm concerned, nine eleven happened like twelve years after
that. That is ancient history at this point, right, Yeah, I
mean yeah, it's but it's it is kind of speaking to the corporate greed
was really the downfall here. Like they were innovating shit, like they were
doing a good job of having like forward thinking minds in the company. The
people were just really obsessed with the stock price. Of course, it just
sounds like you're right, no, and they just got too greedy. And
I can't help but think cocaine. Yeah yeah, just in nineteen eighty nine,
cokaine. Hell yeah, just you know, taking the blockbuster execs out
in the town. Yeah, I might have scared them off, really yeah,
No, like you're from Cocaine with their ten gallon hats guys video on
demand, Oh my god, and they're thinking of this ship. But also
the CFO was like, oh my god, we never have to report losses
because his brains. I'm just thinking of like Romans, Yes, fucking was
it succession? But you just trying to give his pitch and he's just all
fueled on cocaine. That's the thing, Like, when you do that much
cocaine, nothing is enough, and nothing's a bad idea and nothing it's a
fantastic they were, They had plenty of We're not knocking Enron for a lack
of good ideas, no, no, we're knocking them for terrible accounting ideas.
Oh yeah. So in two thout late two thousand and one, after
a series of revelations of involving irregular account in procedures perpetrated throughout the nineteen nineties
involving Enron and its auditor Arthur Anderson that bordered on what do you know?
Enron files for the largest Chapter eleven bankruptcy in history. So, and just
to kind of pepper in some details on why this is so shitty. Uh
So they don't really give anybody heads up and it turns their stock into a
penny stock overnight. Yeah. So they also I think, I want to
say, like thirty days before that, they switched their pension holding firm,
like the firm that's running the pension which did this allows them to trade their
stock in for thirty days while this is all happening. So the people that
are holding stock that are supposed to be like making their retirement and shit like
that, who have just thought, by the way, that they are going
to ball out in retirement. Yeah, because their stock has like tripled,
it's fifty six during the summer as its peak ninety six cents. With this
move with no heads up to anybody, after kind of just being found out
to be a complete fraudulent system, they become worth nothing. It's about sixth
sense of share. And by the way, if you're working there, say
say you're forty five, right, You're forty five years old, you had
two kids in middle school, a wife, a beautiful Texas blonde wife.
You live in Houston, right, she needs all those longer burger baskets.
Yeah, here's the thing, though, you got stock options or stock or
whatever, and you've been working there for like fucking five ten years, probably
ten years at least, maybe twenty years maybe two year ground floor since the
merger, you are good to go. You literally think like I am wealthy.
I'm not rich, I'm wealthy now I have set up not only myself
and my children, but maybe my grandchildren. Like maybe you're you were a
middle class guy, right, you went to ut or or fucking SMU or
right whatever, middle class guy breathing fucking A and M or Tech or whatever,
North Texas, fucking I mean Green. Yeah, yeah, you're you're
you. You grew up middle class and now you're like, oh my god,
I got a job at the ground floor in the right place, and
I've set up my family for fucking wealth, for generational wealth. Maybe yeah,
Like you're setting up your kids to have a lifestyle that you had growing
Because you're only forty forty five and the stocks at ninety, so you're gonna
work for another twenty years, fifteen to twenty years. That's gonna keep going
up. This is a Fortune five hundred company. This is a blue chip
stop. This is safe, This is fucking Apple. This is safe.
I believe the Wall Street Journal for six years in a row named them the
most innovative company in the country. Yeah. Not inaccurate though, No,
not inaccurate at all. But like all things are pointing to your set.
Yes, you played your cards, doing everything right. That is the American
dream you got in. You fucking worked your ass off. The company is
doing well on paper, and you are you fucking did it? Like,
Yeah, you get it. Man. You're gonna send your kids to whatever
fucking college they wanted to do. You're gonna be able to buy You're gonna
be able to pay for your daughter's wedding and buy her a fuck her and
her husband a fucking house. You're gonna be Yeah. And the mistress a
beautiful mistress. It looks just like your wife for some reason. But yeah,
yeah, no like you you you if you were working for Enron at
this time, there's twenty nine thousand people at this point, you were set.
Yeah, you were set. You weren't leaving even if you were honestly
like a like, if you were really low level, you weren't like you
were set. It doesn't matter, Yeah, because I mean, you could
have hated your job. The money was enough reason to stay there. Yeah,
like easily. You couldn't have given a shit about how much not to
mention any kind of stock option. Yeah right, if it's at ninety the
actual day of the bankruptcy is December second, two thousand and one, so
this is post nine eleven. So finally, yes, yeah, so they
go from almost landing that blockbuster deal, which would have been a complete game
changer, nine eleven happens, and then they fill bankruptcy well, and nine
eleven crashed the market a little bit. Yeah, yeah, nine eleven has
nothing to do with their problems. No, I know. I sound like
if you're an employee of the market, obviously you're going through these major life
events very very quickly. Show Yeah, dude, you think it's the worst
at nine to eleven, it's not person not for you. We will bounce
back. I'll buy more n Ron. Yeah well that now, are you
kidding me? By the nine eleven does create caution in the market, like
obviously people are not as it's which actually which actually doesn't make sense because why
how many more terrorist attacks do you think they're gonna be? I mean,
I don't know, buy that dip. I'm dead serious that that is a
that is a market dip for no reason. Well, yeah, that's I
mean. I mean, i know, they obviously destroyed the financial center of
New York whatever, but that doesn't affect the businesses necessarily that you're invested in,
Like at that point in time, if you're invested in John Deer or
Montsanto or something like that, that doesn't affect fucking mont Santo. Yeah sure,
yeah. Yeah, Well generally, like the stock market in and of
itself, Yeah, by the dip. Always if you're playing like you know,
just with the stock market right on an index level, and you've diversified
enough for yeah, of course you buy a dip. But I'm saying for
like deals between companies, there might be some resistance you no, no,
no, yeah, it depends on what you're invested in for sure, and
you can't happen. I'm talking about on the corporate level, Like these companies
that are trying to do these big deals, that's a pause. They're all
pausing, So you can't just ride this momentum that they're trying to go with
like we're making deals, We're doing shit. Dude. They were killing it.
They were the fucking naming rights sponsor of the Houston Astros. Yeah,
that's amazing, which, by the way, never call it Minute Made Park.
Ron fucking Field forever and ron Field forever. Yeah, for sure.
And also so of course with this bankruptcy, they no longer had the naming
rights for the Houston Astros. It's a big loss. And I want to
say it, for a year or two it was just Astro Stadium. It
was no the Minute May didn't step in right away. Okay. Also,
I think, what's the important astronome or something. No, this is so
the astrome with what they played in until Enron Field and Enron had the naming
rights to the new like Minute state of the fucking art at that time.
Statement. By the way, again they were ahead of their time. No,
no, no, this is this is true to this day. Minute
Made Park. I expect that a lot of people who were baseball fans will
remember when it was first built. Its main thing was the hill in the
outfield and the Crawford box right kind of like a cheap, cheap, easy
home runs shot in left field. I had never I had only ever seen
that that stadium on TV until I went there. When I moved to Texas.
I got I went there in like twenty fourteen, twenty fifteen. It
took a while for me to get there. Um, I thought I was
gonna hate that stadium. It's one of the best fucking stages we've been in
my life. Yeah, like truly, I love that stadium. It is
awesome. It's no Tropicana. Yeah, so they give up the name and
riots. They sell their domestic pipeline for pennies on the dollar, same with
their broadband network in Vegas and yeah, all those fiber optics, Now,
would you let go of that? Well, I mean they're just trying to
get anything they can at this point. Also, I think worth note to
during this time, like before the downfall. One of the things you said
ever that I thought was pretty interesting was they were talking about corporate culture in
the trading firm. Yeah. Basically it was one of the most stringent employee
reviews ever done. It was called the three hundred and sixty degree review,
where according to the curriculum for how they or the standard for how they review
you was based on respect integrity really was how many deals are you pulling in?
And it wasn't on like long term deals that would have good benefits.
Later on it was how immediate is the cash you were bringing in. We
don't care about long term good business. We're talking about shit on books right
now. That's some cocaine shit. Yeah. And so because of that,
you had fifteen percent turnover in the company, and that on the trade whatever
the trade floor was. But also the deals that they were making had more
secret like had more clauses for secrecy and like non disclosure than almost any corporation.
There was so much like NDA like non disclosure agreements for the deals that
they were conducting. It was giant not how much of that. There's giant
financial institutions that were also helping them cover up, like City Bank, Arthur
Anderson, deutche Bank Anderson went down with them, the Royal Bank of Scotland.
Well yeah, like all those banks were fine. Now, by the
way, if there's one thing bank So I know a lot of people lately
have been like did in the last couple of days essentially been like fuck,
fuck the financial institutions because I like they're trying to step game step in AMC
and all this shit. Um, they have been full of shit forever.
I remember I covered this one time. I don't. Honestly, everyone knows
that, but they know that in such a passive way that they don't care,
you know what I mean? Oh yeah, like yeah, I mean
for demand, but like who cares? And also like use my money with
them? Like I remember writing a story when I was at TFM about how
uh fuck I can't remember what bank it was. It was an international bank
and uh, I forget which one. I have to look it up and
might have been it was it was, yeah, but they they decided to
do this essentially just to get good press. Is that they would no longer
I think ensure the fraternity SAE. Oh it wasn't a HSPC. I know
which one you're talking about, huck, It doesn't matter. And it was
because of the hazing and oh no no, And they're like to and was
that SAE at Oklahoma that did that? Yeah, okay, it might have
been after that too. They did that. It was for publicity. Fucking
Meanwhile, they are doing all kinds of business in Saudi Arabia in all kinds
of fucking sketchy country, Like they have like direct ties to terrorists that the
US was like investigating, probably still investigating that they hadn't caught off at fucking
all. I mean they're probably tied to SPG, which everyone is, that's
the Saudi Law and Group. Yeah, like yeah, of course, I
mean that's just because there's been lat in the blows of a trade center doesn't
mean that the SPG is necessarily nefarious. But at the same time, it's
not great looking. Like, yeah, if you're gonna cut something off for
like three kids on a bus, yeah, you might want to cut something
off. Yeah, when and basically any end. Look, the US is
in there all the time. But like I would say, like minimum fifty
percent of business you do in Saudi Arabia is tied to human atrocities somehow.
Yeah, yeah, in one way or another. Yeah, worst case scenario,
it's just oppressing women to where the you're tours and oh no don't they
don't they like feel gay people. I mean, like, fuck, dude,
you do any business you can't run. Yeah, and look, there
is some level of pragmatism, right that you have to have because you just
can't run the whole world and there are lesser of two evils sometimes this pragmatism.
But sometimes you're just making a buck, yeah, right, Like it's
and totally I agree with you there, and to do it with like,
look at us, let's give ourselves a pout on the back, right,
not ensuring say right your Meanwhile, that is such bullshit. I remember I
remember reading that. I mean, like, I've been like a Google fucking
five organizations that are horrifying. These people do business with and it took no
time to do. The stratosphere do tons of money. Yeah right yeah.
Meanwhile, say he's like, good ten high you fucking pledge, yeah right
yeah. Versus hey go get stoned. I'm sorry, we can't manage your
like three thousand dollars and fraternity funds. Yeah. The funniest part was that
said that ensuring a fraternity was like the same level as risk of risk as
ensuring like a coal mine. I could see it, like, WELLA is
notorious for hazing. Yeah, as far as fraternis, he's pretty near the
top. It's up there. Yeah, but I mean yeah, like like
I just speak of ensuring fraternities just like when we first when I first came
out here, he took me out with a couple of our friends and I
think we ended up at ZBT. Yeah. Uh. When I saw that
they had a pool. I was like, how the fun obviously was grandfather
did if I if I was, if I was on zbt's alumni board,
I would have pored cement that fill it? Yeah, no, fucking thirty
years. I guess how far is it from the roof? Fill it with
cement? Yeah? Like God, so you're probably wondering, did any of
these assholes go to jail? Uh? Kinda? Andy Fasta goes to jail
for six years, but well he turned, he turned Yeah, but six
years rolled over on people. Oh yeah, six years for his cooperation.
Yeah. Kenneth, your boy, Kenneth never actually sees jail time because he
dies Kenny Lay Colorado. So funny thing about Kenneth Lay. This is the
only thing I did research on that I wanted to talk about. So Abby
and Ron fucked over a shit tone of regular Joe's and Jane's in terms of
pensions and four O one kale blah blah blah. Stock fucked them, fucked
them right. Like, it's one thing if you're like me and Dan and
you Yolo, you're four oh one k when you're thirty. Yeah that's everyone,
not thirty. I've done it twice. Um, I've cashed up my
four oh one twice, so that's one. That's one thing, right,
decision, you get them. They were doing this to people who were fifty,
yeah, sixty. They don't have a second chance to those people are
greeters at Walmart now, yeah, I mean they That is imagine. I
mean the best way to put it, like, if you want to get
like an emotional tug on, it is like someone just steals your parents house.
Yeah, basically that's really it, because that's like stuff you were counting
them later on. Yeah, like someone just steals it, right, and
and it's like and then and then and then, and then everyone's either yeah,
that's it. You don't you don't have the house anymore. Working for
a Fortune five hundred company that's constantly being praised for like its ethics and like
how great of a company it is? Yeah, all the all around,
like Wall Street, New York. And then the like rugg is just pulled
out from underneath you and you can't do anything about it because you're barred from
trading the stock for thirty days while this is all happened. And it goes
from ninety dollars to twenty six cents. Yeah, So between that scandal and
Kenneth Lay's death in two thousand and six, I believe um he had been
giving money to Miszoo for decades, right, he graduated like sixty five or
something that had a few buildings named after him, an economics chair. And
this was funny to me because this is the type of shit. This is
like pre PC culture PC or pre like modern current PC culture. PC does
literally doesn't Facebook does? Um where a bunch of people though, there were
still outcry because before Keneth Lay died he gave like another couple million to Missoo
Twitter. He had been giving million what March twenty first, two thousand and
six, No Twitter? Okay, Well anyway, Lay had still been giving
money Miszoo, and right before he died he gave a couple of million and
and there was a outcry to like rejected. Yeah, I kind of remember
that. And wasn't there also something where they were trying to rename a building
that he didn't have a building named after him, but he had stuff named
it. Wasn't there something at Missoo though in particular that was named after somebody
and like the granddaughter was there and they were trying I'm probably think something I
don't remember from my head, but they were trying to like get Kenneth Lay
stuff unnamed and more importantly, give back the money. And by like Kenneth
Lay was not like flaunting his donations to universe of Missouri, like according to
the news stuff I read, or like the news stories I read, most
of it, he had given privately and anonymously not sought any press for it.
And but the last one, I guess they like knew it was linked
to him and he had died. No fucking go back. And I like
the time I was at Missoo when this happened, I was like, why
fuck over students and teachers? Yeah, because this guy maybe sucked like he
was giving his money for a good thing, Like it's not like he's yeah,
like you can use that money to help other people, right, You're
gonna give it back out of some kind of like weird literal virtue signal.
Yeah, it's It's definitely one of those things where it's like, is the
feeling good really worth? Is the good you feel from doing that? Does
that outweigh the good you can do with the money. No, No,
it never doesn't. That's how money were just take the bad man's money.
What do you do like the kid that doesn't have a scholarship anymore, We
did it. We did it, Billy. You didn't get your scholarship,
but get this, we didn't give it to you because we rejected the cross
team is now cut. The kid who has no connection to Pablo Escobar.
Care if Pablo Escobar sends him to college, like really, no, well
he might get eaten by one of Pablo's hippo So I don't think the hippos
with Okay, they're fucking dangerous man, Pablo hippos in college? Yeah,
sorry, you don't fuck around with hippos. No, absolutely not, absolutely
drious animal in the world. Everyone knows this. Jeffrey Skillen also ends up
with twelve years. He actually just got out in twenty nineteen. Good for
him, out of his halfway house. And again, this isn't like real
jail. No, it's this his country club jail. It's still jail.
You're still playing tennis every day like it's well, public courts, it's not.
It's like a dormy. It's yeah for them, I guess it's prison
because it's like a fucking it's a dorm room. You don't want to play
out. You don't you like playing a serve off a crack in the courts.
It's a nightmare. Yeah, I mean these guys are in hell.
Yeah. Right, And you have to question the quality of the rackets too.
I mean they're playing with broken string. Oh god, it's probably like
almost certainly target getting. You're getting a racket restrong. There, no no
way you gotta buy you a new one. Yeah, that's probably fucking sinking
and then like a phoenix from the ashes. In November two thousand and four,
and Ron's new border directors sued all eleven financial institutions that helped lay Fast
out and skill in hide the books. Yeah, so they're able to obtain
seven point two billion dollars to distribute to its creditors, none of which,
of course, went to their employees or stockholders. Yeah, well, you
have to pay the banks first. The bank gets paid first. Yeah,
it always does. It's interesting. There's fucking you know mister and missus Smith
and Houston who who now have to like work until they're ninety. Yeah.
Fuck. Then, no, gotta make sure Bank of America is taken care
of. In case you needed to pick a side, on the fucking game
stop shit. Yeah. Absolutely, that's the thing. I got the game
stop shit. I it's one of the most fascinating things. I think everyone's
really drawn to it, like Moth the Flame right now, because it's not
necessarily doom. It's not a doom news story. It's like it's fun.
You can you actually believe did either of you see the Senate Live sketch?
How bad they got that wrong? Oh? Totally, yeah, they got
it. They got it so wrong, they got it completely backwards. Yeah,
like to the point where I was like, oh, you you read
two headlines. I don't know what the fuck you're talking about. Talking head
on MSNBC, which like an idiot is not like for whatever. I don't
know why. I guess because it's all their friends. But like in the
financial institutions, but all these like cn BC and like all these different networks
are just kind of like fighting for the hedge fight no, because it's that
I was talking to about this today with our buddy Matt Gleason. Like,
so the difference between like obviously like White House reporters, they get chummy with
the White House staff, like they become like professionally friends with them. Might
see them out at the bars or whatever. But like political reporters are still
like fairly divided, you know what I mean, between like left and right
or whatever. But the financial reporters they are also friends with the people they
report on. But everyone is really fucking friendly there because there's no there is
no emotional divide. It's just like I think this stock's good, well I
don't, right, they all go out, they all fucking drink. Half
of them used to work in the hedge funds like they and they all need
like the the financial news and financial like, they're way more friendly. Yeah.
The political stuff, the stakes are higher and well, I don't know
hires the right word. The stakes are more emotional, and people get mad
at each other, and people ask each other really fucking shitty questions right when
you're in the white like when you're reporting on politics or whatever, whereas in
finance you're just talking about stocks and money and game like also like homeboy from
Citadel is going to cover the tab like yeah yeah, And those finance,
those hedge funds, they know they can work you right like, and and
you're happy to be worked because that's an expert giving what you think is a
far more ejective, objective opinion than you know, uh senate or not senate,
like a House Republican or House Democrat. Well yeah, um, I
mean no, the financial the connection between financial reporters and and the people they
report on is way fucking chum. Even think about like where the network's money
rested investment wise, like where the money for these companies is laying. It's
not laying in a robinhood, right. So it's like I wasn't super big
on like the fake news crowd obviously with politics and everything, but when it
comes to like this financial stuff, it's like, no, this is this
is fake sketchy. It's really sketchy. There's something else. Actually it's not
sketchy. It's very transparent. Yeah they are. Yeah. If there's one
thing that these hedge funds and these institutions are, it's like in your face,
fuck you, like yeah, yeah, it's it's the fun of it,
which is kind of fun. Yeah. No. I'm starting to pick
up trends though, Like with the market. Every day they seem to attack
all these stocks from like nine thirty to or nine to nine thirty Central,
so like ten, ten thirty Eastern and it's just every damn day. They're
just so they don't even try to hide it and they don't try to like
change things up, so you can kind of manipulate how you want to work
your stock. So it's it's easy. Aday. It seems to be easier
than sports gambling. Yes, because at the end of the day, everything
goes up. Yeah, if you hold, if you hold, and you're
divers and it's not mild crazy, you're not buying spy puts. But again,
it's it's these morons that are at the hedge funds. They get the
jobs that are in the fraternity who get left off the GPA report, who
end up working for these firms, and they're not they're just kind of like
very transparent about yeah, yeah, yeah. It's a big short where they're
talking to the guys that are investigating. It's like, yeah, we don't
care if they do, we'll give them any house. It's like, what,
I don't understand. Why are they they're confessing. It's like they're not
confessing, they're bragging. Yeah, yep, but those are those were like
low level guys, right, those are the same time. Yeah, yeah,
I know, but it's like literally, you work your way up and
it's just every level of this ship is just ran by morons. Well obviously
it's not moronic though, because it fucking works. It works. Yeah,
that's the way the system is set up. This is why I'm so happy
about this, and I'm glad we did this topic this week. Is and
it's really telling what you kind of see. We talked to this earlier today.
UM narratives at least taking hold on the left side of cable news and
stuff like that, which is um that Wall Street bets is is like a
bit of like Qanish, which you know what I mean, like a weird
online movement with disaffected young men, white men mostly, And you see it
and on the left or on the right. I'm sorry, you're starting to
see the narrative hasn't quite taken hold as much, but they kind of are,
you know, like there's a little bit of attribution of it to like
a sort of neckbeard anti FID type of thing. Again, they're not making
these direct connections, but they are the insinuating a lot. Yes, yeah,
yeah, And I think you know what's interesting too, is you're talking
about right and left. I would really funnel this down to neoliberalism and neo
conservatism, that's anti what's happening with Wall Street bets. I disagree neoliberalism.
It's big money focused. I think I think it's outside the political realm.
Do you think so? Yep, I don't think. I don't think you
can put a label on what likes it or doesn't like it. I would,
I would, Well, it is it is basically rich verst poor.
Yeah. But if you're if you're going on like that's what it always comes
down, if you're going by the stereo woke liberalism and fucking at least the
people who run bananas conservatism. Yeah they're rich, Sure they're rich, but
they don't like it either. So it was like the elite left, which
the stereotypes like, Yeah, I mean everyone's in bed with the bank.
You think it doesn't matter Marjorie Taylor Greenhaye poor? Yeah, no, of
course not. No one in politics is poor. Yeah, right, that's
what I'm saying. That's that's what I'm saying. No, for sure,
it's not it's not a political issue. It's that's the thing that's always a
class. This is pure classue. This is the one interesting theory I've heard,
and this is from somebody that has a lot more m what do you
want to call clout as far as managing money and like writying stocks and stuff
that I do. Again, we're not financial advisors. Were more we should
not be taken too seriously. There's a lot you can get softcore stuff that
we are softcore everything. Yeah, so this guy was saying, it is
kind of interesting that this kind of thing is happening right now after a regime
change or administration change, and you know, it's really easy to say this
is where I think the disinformation is coming. Though It's like there is an
argument to me like, well, maybe someone was leading the charge a little
bit on this, but then you look at the guy who fucking did it
a year ago, and that is not some brush and deep state dude,
Like that's a guy. That's just a dude. That's a fucking guy that
is not an agent or commodity whatever you want to call it. These are
just random able to at their homework. And like if you read Wall Street
Bets, if you read it before that like the only before now, because
now it's just if you I've followed Wall Street Bets for years, the me
you followed for the means yes, one of the best things about Wall Street
Bets was lost porn. And then if you read um some of these like
kind of left leaning media companies where they're just talking about like you would never
brag about how much money you lose. It's like no, actually they love
they that was like their big you would, you would, they would show
their robin Hood accounts go from like two million dollars to fifty k. And
and also any sports gambler knows that. Yes, you you laugh about because
you don't want to cry. Yeah, And that's the biggest bullshit of all
this is like, oh, the tail investor doesn't know the risk, Like
they don't know what they're getting into. It's like fuck, like fuck off,
No, that's that And that's that's so p're the only ones to take
any risk. Yeah, that's the most condescending part because there's no media arm
for a retail investors. There's no one saying this is on they're fucking data
hedge fund manager on there saying it's bullshit. They need to stop the buying
so that we don't lose money. He said it, He said it on
camera. And then they're always gonna get bailed out. They're always gonna have
a safety net. We're the only ones again taking the risk. Now we
know what we're getting into, we know what we're signing up for it and
it dude, I am. I am the least conspiracy person you will ever
meet. I always, I always subscribe typically to Handlin's razor, which is
do not um essentially like people are being stupid, not well, not no
malicious, not relitious. Yeah yeah right, like it's they're probably just being
stupid novelish almost always the same way as Akham's razor is the simplest explanation is
the best. Halan's razor is essentially people being stupid is the best explanation.
They're probably not being malicious, right, I see what is being reported on
CNBC and especially on MSNBC. I haven't actually seen it on sand N yet,
but like, fuck, dude, it like anything ascribing it to like
alt right stuff, do not like. Don't buy it. Don't buy it,
don't buy it. It's not fucking true. These people like Wall Street
bets. Yes, they use absolutely homophobic and I guess what you could call
ablest language. They use it on themselves. They're calling themselves and they are
not like I hate gay people. They're they're self deprecating in a deeply offensive
way, but they are aiming that gun at themselves. Yeah, the biggest
thing, it's uh, the themselves, as if for Chan had a Bloomberg
terminal. Yeah, like call themselves autistic, they call themselves gay, they
call themselves retarded, like it it's it is like reading chan comments like back
in the day. But it's all self loathing. They are not like they
are not like, fuck gay people, they shouldn't get married. I fucking
hate gay people. I know who are on the internet understand this. Yeah,
you listen to this podcast, you definitely if you listen, you get
it. I guess you don't need to probably but here but just in case
anyone doesn't. They aren't out to hate anyone. Now, some people might
say like, oh, well, you know, if if a mother of
a of a of a disabled child reads that, that could hurt that that
could be hurtful to the m or you never know how a gay person would
feel reading that. I can tell you. I can't tell you how to
feel, but I can just say this, It's not aimed at you,
It's aimed at themselves. Well, even I mean poor choice of verds or
not. Who cares. They're not a financial institution and they are not all
right. They they're a political as fuck. They care about money. It's
literally cash machine, go burr. That's that's their entire ethos. They ran
a billboard yea that just said goes bur and uh yeah, I mean like
if if you're the subredit too has been kind of now hijacked at this point,
it has, yeah, um, And I mean the whole movement's kind
of been hijacked because obviously they're like, oh, everyone's moved on the silver.
That's not true. Nobody's don't buy silver. Don't buy silver unless someone
is offering you literal silver. Yeah, take the silver. I want to
buy the silver. No, people, that's the That's the bigger issue here
now is and this is off Enron at this point. And I love the
topic of it's related, but that's the bigger issue now. My big fear
is these people that I see back home on Facebook talking about market swings and
shit like that. They I know they know that there's risking that, but
I'm worried about them getting manipulated on something like Wall Street bets because there's bad
actors on it. Now, there's so many bad it's just full. It's
way more bad actors than it is actual Wall Street telling people, I'm just
scared for the people that are like taking out money they don't have to do,
and then also listening to the advice of Wall Street bets in the first
place because they are a again they love lost porn like this is no,
this is a anomaly. I mean, granted, they hit the gold mine
here and they did a coordinated thing here, but yeah, you don't want
to do it normally deep fucking value. If you look at the thread that
he was in where he's talking about like, oh, I don't know,
I'm gonna buy these I'm gonna buy these calls, like everyone's like, you're
a fucking idiot. Yeah, we can't wait, like please post your losses,
and now he's Jesus yeah, and now it was like you're a god.
Yeah, but it's it's gambling. It's gambling. But I mean,
yeah, that's the stock market. Yeah, it's straight it's unless we should
be more transparent about it. It's straight up unless you diversify and you bet,
like with the stock market, if you do calls and puts and shorts,
and all that shit. It is. It is literal gambling. Yeah,
if you are just buying stock in companies you believe in, it is
not at all. Also, like I guess four o one k is not
vilifying shorts is a little much, but yeah it is. Also it's I
agree, but like you should shorts are good sometimes, like obviously the House
of Market two thousand and eight and then um was it round people at short
at end round too um to expose kind of what they did well. And
also you should short, but we shouldn't be allowed to do is over leverage
over Yeah. Yeah, so you can't be short bet short in the company.
Yeah, short in the company into bankruptcy is evil. Yeah, Like
you can't short a company one hundred and forty percent, Like you can't.
You shouldn't be able to do it more than stocks available, Like that's absurd.
Like what Citadel was going to put game stock, like Melvin or whatever
was going was going to put kind Yeah, Melvin was going to what Essentially
if they hit like people who work the registered game stop, We're gonna lose
their jobs so that people with lots of money could make a little more money.
But it just didn't make sense that you would short something one hundred and
forty percent when it's only four dollars, Like, is it that big of
a game? I guess it was, but the risk taking on that much
risk, but it was blockbuster taking on that much risk on not that honestly,
not that big of a payoff. Well, it's it's payoff when you
have that much money in it. Yeah, yes, it's a ton of
money. It is four dollars a share. Every time could their count moment
to go to zero or one dollars or whatever, it was, right and
so and when that happened, it would do it down more right, But
the opposite happened, and now you have this andy daisy. Okay. That's
another thing too that's really fucking infuriating is people they don't get it. They're
just making a momentum play. That's all hedge funds do. They make momentum
plays. Yeah. I liked Jake Tapper's tweet where he was like, wait,
so let me get this straight. This is the first time the stock
markets that ever been manipulated. Yeah, of course, it's it's a fugasi,
it's a food daisy. And yeah, that's our episode of Softcore history.
We'll be back next week. Um to me episode I think? Do
you want to take your turn? Yeah? Okay, it's me Cool.
We'll be talking about the Black Cube on Saturn. Okay, don't cool.
Uh So for Jake Goldman, Rob Fox, I'm Dan Rogester and you just
got soft served.