Latest / The Epstein Chronicles / Mega Edition: The Battle Royal For Control Of Apollo In The Wake Of The Epstein Bombshell (6/30/26)

Transcript

Mega Edition: The Battle Royal For Control Of Apollo In The Wake Of The Epstein Bombshell (6/30/26) · The Epstein Chronicles

0:00
Speaker 1: Last night when we left off, I was telling you
0:03
a little bit about Leon Black's problems and how they've
0:07
been magnified. You know, when we were first talking about
0:10
Leon Black and we were talking about how he was
0:14
under the microscope, I said, I didn't think it would
0:17
be long before investors and people who safeguarded their money
0:22
with him started looking for the exits. And it seems
0:26
like that has started to occur. There's a new article
0:29
out from Bloomberg and that's basically what they're talking about.
0:34
You know, there are a lot of pitfalls for somebody
0:38
who manages money when they're caught cavorting with a sex
0:43
trafficker who was one of the most prolific child abusers
0:48
in the history of this country. Basically, I mean, that's
0:50
not that's not even going a step too far, is it.
0:53
Considering what we know, considering the hundreds of girls, considering
0:57
everything that has come out, and considering you know, what
1:02
has been on record with just the girls from Palm Beach,
1:06
would make him one of the most prolific that we
1:08
know of. Then you add in the sex trafficking ring,
1:12
the trading, the girls around, all of it, and you
1:17
definitely have one of the most prolific sex traffickers. And
1:20
this is the kind of guy that Leon Black is
1:23
hanging around with. And if you were in charge of
1:26
these pensions, and you were in charge of all of
1:29
this money that people trusted you to invest, would you
1:33
be moving it with somebody like Leon Black right now,
1:37
especially considering how the stock is getting hammered over his
1:43
ties with to Epstein. I certainly wouldn't. And it looks
1:47
like that's what Leon Black and Apollo Global is facing
1:51
right now, and it comes at an odd time for
1:54
them because they were in the mix to jump in
1:58
and buy William Hill the sportsbook. So I bet you
2:02
that's on hold right now. I mean, I don't know
2:04
one way or the other. I haven't really dug into it.
2:06
But you would think with all of these rumors swirling
2:10
and all of this controversy that Leon Black has started
2:13
to face, that that deal might be shelved. So we'll
2:17
have to see. But in this article tonight, the headline
2:22
is Leon Black's Epstein links threaten Apollo's fundraising. And this
2:28
article it first appeared in Bloomberg and it is being
2:31
run right here and where we're using it. The source
2:34
here is on Yahoo finance. Authors of this article, Heather
2:41
Perlberg and Sabrina Wilmer, Apollo Global Management Incorporated is facing
2:48
a client revolt that could choke new investments into its
2:52
funds as questions persist about co founder Leon Black's ties
2:57
to convicted sex offender Jeffrey Epstein. And that's a pretty
3:02
interesting choice of words that the authors use here, right
3:05
in the first paragraph. A client revolt. Remember I said
3:10
that I thought something like that was going to happen.
3:13
It's just that's how it works in the financial sector.
3:16
People are scared, they're gonna run for the hills when
3:19
it comes to shit like this. They're all looking for
3:21
the Exit's like there's a fire. Nobody wants to park
3:26
their money with somebody who who knows how deep the
3:30
ties really are with Epstein? And I know we got
3:33
the independent investigation that's cracking off, okay, but really, these pensions,
3:40
especially these public pensions, these these sorts of people, and
3:45
the people running these sorts of pension funds, they don't
3:48
want anything to do with this. And we're starting to
3:52
see that now come and and start to become a reality.
3:59
Cambridge Associate, it's an influential consultant to investors, including pensions
4:03
and endowments, may stop recommending Apollo. According to people with
4:08
knowledge of the matter, there are a lot of rumors
4:12
swirling right now, a lot of unconfirmed rumors, stuff that
4:16
I can't really substantiate. But there is a lot going
4:20
on in the financial world when it comes to Apollo
4:23
and people losing trust. And it's crazy because Apollo was
4:27
one of the biggest engines of the whole entire market.
4:29
They're very powerful, very influential, and they made a lot
4:34
of money. So of course people wanted to roll with
4:36
them and ride with them and benefit off of their back. Right,
4:40
But now there are other places to park your money. Okay,
4:44
you might get a half a percent less of a return,
4:47
but at least you don't have the cloud of Jeffrey
4:49
Epstein hanging over you and all of the pensioneers. Already,
4:55
the Pennsylvania Public school Employees retirement system has Apollo it
5:01
won't consider additional investments for now, So there you go.
5:05
The public school employees retirement system in Pennsylvania has informed
5:11
Apollo that it's a rap. They don't want to do
5:13
business with them for now. They know that things are
5:17
a lot worse than Leon Black and Apollo are letting on.
5:21
Wherever there's smoke, there's usually a little bit of fire, right,
5:24
and in this case, I think there's a little bit
5:26
more than a little. The developments follow months of pressure
5:32
on Apollo from investors seeking more definitive answers about what
5:36
chief executive officer Black has described as professional ties to Epstein,
5:41
who is awaiting trial on sex trafficking charges involving underage
5:46
girls when he was found dead in jail last year. Look,
5:51
there should be pressure on people like Leon Black. There
5:55
should be pressure on these people to answer for their
5:57
relationship with Jeffrey Epstein. Again, I don't know how many
6:01
times I have to say it. You can't. He can't
6:03
even go on the excuse of, well, this was before
6:06
he was convicted. I didn't know if you were hanging
6:10
out with Epstein before he was convicted for this crime.
6:14
Even though I might not believe you, you at the
6:17
very least have a bit of a leg to stand
6:20
on by pleading that you had no idea what was
6:23
going on, especially if you weren't in his inner circle.
6:27
But if you were hanging out with Jeffrey Epstein after
6:30
the fact, if you were still doing business with Jeffrey
6:33
Epstein after the fact. If you Leon Black thought that
6:40
having Jeffrey Epstein was a consultant after the fact was okay,
6:44
then you, mister Leon Black, must deal with whatever comes
6:50
down the pipe, because there are repercussions for shit like that.
7:00
You're just in. Their relationship heightened anew last week when
7:02
The New York Times reported Black had wired at least
7:05
fifty million dollars to Epstein after his conviction for soliciting
7:10
prostitution from a teenage girl. And that might be the conviction.
7:15
We all know. It's a bunch of bs, and everybody
7:18
that was around him at the time knew that it
7:21
was a lot more serious than solicitation. Well, you don't
7:24
think these people in powerful circles talk. You don't think
7:27
any of these people are friends with attorney generals or
7:30
assistant attorney generals or people in the prosecutor's office. Hell
7:34
yeah they are. Who do you think is donating money
7:37
to their runs to get those offices? Certainly not me
7:40
and you with our nickel and dime donations. If you're
7:43
making them, that's a fantasy. This money is being poured
7:48
in by bag men like Leon Black, so that when
7:51
situations like this occur, they get themselves some leniency, and
7:56
it's absurd, it's gross, and I'm tired of it. Black
8:02
and Apollo are now trying to dispel the cloud over
8:04
the company, which depends on multi billion dollar fundraisings to
8:08
fuel its earnings and has already seen its stock take
8:11
a hit at Black's urging. This week, a panel of
8:14
board members hired law firm Decker LLP and independently to
8:20
independently examine the sixty nine year old's account of his
8:23
ties to Epstein, whom Black has said he turned to
8:27
for financial matters such as taxes, estate planning, and philanthropy.
8:32
So how deeply were you guys tied financially? How many
8:36
business ventures were you guys involved in, how many of
8:39
those were off the books, how many of those were
8:42
done through intermediaries, how many of those were done through LLCs?
8:46
How much of this money was reported, how much of
8:49
it wasn't, How many rico crimes were committed on a
8:52
daily basis? Those are the questions I have. Leon requested
8:58
and welcomes the third part independent review. Oh, I'm sure
9:01
he does correct me if I'm wrong. But isn't Apollo
9:06
paying for this so called independent review. Pretty sure they are,
9:11
so how independent is it when they're working on their dime?
9:16
Like I said, I think they want an independent review.
9:18
That's fine. Forensic investigators from the FBI should be in
9:23
charge of any review. A spokesperson for Black said an
9:27
email statement Wednesday. He is confident that the outcome will
9:31
put the matter behind Apollo and validating what he has
9:34
previously communicated publicly. No, it won't, just like it wouldn't
9:40
for Dubin, just like it didn't work for Wexter or
9:44
Harvard or the New York Academy of Arts. All of
9:47
these internal investigations, all of these so called independent investigations
9:53
that these people kick into gear, really hold no weight.
10:00
Apolo is firmly committed to transparency, a company spokesperson setting
10:04
an email Leon has communicated directly with our investors on
10:08
this issue, and we remain an open dialogue. Look, the
10:14
only reason he's communicating is because he got caught with
10:17
his hand in the cookie jar. Do you think he'd
10:19
be coming out and just, you know, because he's such
10:22
an honest cat and say, look, you know what, I
10:25
did have ties to Epstein. We were boys. We kicked
10:28
it I went to his house, We drank some booze,
10:31
whatever it may be. No, until these stories started to break,
10:37
until people started asking questions, none of these people came forward.
10:41
None of these people offered to help the investigations or
10:45
to help the survivors get just a little bit of justice.
10:50
They just went on with their merry lives. And you
10:52
know why, It's because it's normalized to them. This kind
10:56
of treatment of other human beings is just normal to
10:58
these people at the very least. That's the way it seems,
11:01
doesn't it. There's been no allegation that Black's dealings with
11:06
Epstein broke the law. Well, look, that's why we have
11:10
an investigation, right we can't just say, well, no, there's
11:14
nothing to see here without having an investigation. That's what
11:19
happens in countries that are run by dictators. That's what
11:22
happens in countries where the so called media is acting
11:25
as a propaganda arm for the government. We see that
11:31
more and more in America. But it's weirder here because
11:35
the media acts as a propaganda arm for their favorite
11:38
insert politician here. And now we have a country where
11:42
it's not the one reality We live in an America
11:45
with two realities. Anything they can do that involves outside
11:53
observers to nip that narrative in the bud, in my view,
11:56
will be great for the stock. Said Patrick, have it
12:00
and analyst at Autonomous Research look for sure if they
12:04
can get If they could have got out in front
12:06
of this, and Leon Black would have came out right
12:08
away and been very honest and upfront, provided documentation, went
12:13
and spoke to the FBI all of it, then I'm
12:15
sure a lot of people, a lot of a lot
12:17
of these investors would have been much more comfortable. But
12:20
even with this kind of investigation, how comfortable are you
12:23
going to be parking billions of dollars with Leon Black?
12:27
What happens if he gets in trouble, say just let's
12:30
just say in speculating that he gets in trouble with
12:33
a RICO charge and now all of his assets are frozen.
12:37
What if they freeze Apollo? What if you have to
12:40
wait to get your assets out via litigation? What if
12:43
the government freezes all of that money. It's not out
12:47
of the realm of possibility. We've seen it before. So
12:53
I can understand why people want some clarification here. I
12:56
can understand why investors are a bit hesitant, and I
12:59
can understand he's dealing with a bit of a revolt.
13:01
This is heinous, serious shit. This doesn't sweep under the
13:05
rug blue collar crime. I'll pay somebody off and that's
13:08
the end of it. There are way too many people
13:11
who are interested in this now, way too many people
13:14
who are turning over rocks and shaking bushes, and only
13:19
real answers are going to be accepted. No more of
13:21
this obfuscation, no more of this dugging questions, and no
13:25
more of these easy pathways by the legacy media. I
13:35
am kind of wondering why they didn't do this in
13:37
the first place. This could have gotten the monkey off
13:39
their back a long time ago. Well, I'll tell you why,
13:43
because I think that they understand that there's a lot
13:46
more there and they didn't want to unearth anything and
13:51
cause shock waves that were not needed. If Black was
13:55
squeaky clean with his relationship with Epstein, if Black and
13:58
Epstein weren't that tight, then they would have initiated this
14:01
a long time ago, or they would have went to
14:02
the FBI and spoke with them. But they know, we know,
14:07
everybody knows that Leon Black, the arrest of Polite so
14:12
called polite society, and people like Jeffrey Epstein are involved
14:16
in all kinds of behind the scenes money moving. There's
14:22
just not even it's not even a debate at this point.
14:27
The Pennsylvania Retirement System said it had planned to have
14:30
a meeting with Apollo sometime this week, but after The
14:33
Times published its story on October twelfth, the pension plan
14:37
plan held a meeting by phone the next day. It
14:41
later suspended new investments. So that's look, I'll tell you what.
14:44
I'll give them props for that. You got to stand
14:47
for something right. And if you can't stand for avoiding
14:52
doing business with somebody like Leon Black, who is very
15:00
close or was very close to Jeffrey Epstein, then I
15:02
don't know what mountain you're gonna choose to make your
15:05
stand on, because this is just, I mean, next world
15:12
evil to abuse children like this. PSERS is closely following
15:18
the ongoing legal issues and the newly launched internal Apollo investigation,
15:23
it said in a statement, without elaborating on its concerns.
15:27
The Financial Times earlier reported the decision, and I knew
15:30
this was gonna happen, and I talked about this. It
15:33
was only a matter of time, and once one leaves,
15:36
once one pauses business, well you see others start to
15:40
do the same. Because once you get rattled in the
15:43
financial industry, people get rattled fast, and once one person
15:47
jumps overboard, it is a mass scramble to the lifeboats.
15:51
Votes folks. Cambridge, which advises advises on about four hundred
15:58
and ten billion in assets, told clients its deliberations were
16:02
prompted by lingering questions over Black and Epstein's ties. A
16:07
representative for the firm declined to comment. Think about that
16:11
fort Cambridge, and advises on about four hundred and ten
16:15
billion in assets, has told their clients to step back
16:19
from Apollo. This is bad news and Leon Black is
16:22
really going to suffer financially from this. Some other investors,
16:28
speaking on the condition they do not be named, said
16:31
they didn't understand what financial services could warrant fifty million
16:35
dollars in payments to Epstein, a college dropout. He lacked
16:38
conventional training in areas such as taxes and estate planning.
16:42
And it's one hundred percent true. One of the biggest
16:45
points I've talked about. I know how people like this act.
16:49
I've dealt with people that are just extremely wealthy, and
16:54
I know how they are. They're not just letting anybody
16:58
near their money. They're not just gonna let any guy,
17:00
someone like Jeffrey Epstein, a college dropout, be in charge
17:04
of all their dough and fifty million here, ten million there, Bah,
17:08
no big deal. That's not how these people operate. These
17:11
people are all control freaks. So there's a lot more here,
17:14
something way deeper, in my opinion, and we're gonna get
17:18
to the bottom of it. Leon Black Apollo stock slumped
17:24
in the wake of the newspaper's report, shedding fourteen percent
17:28
by Tuesday. It jumped as much as six point three
17:31
percent on Wednesday after the firm disclosed the board's reviews.
17:35
The shares end of the day up two point six percent,
17:39
but they're down thirteen and a half percent in twenty twenty.
17:44
That's a blood bath. That is just terrible to have
17:47
your stocks down. The shares down thirteen and a half
17:50
percent is it's a bell weather for what's to come
17:55
if they don't get rid of Black and Black can't
17:59
stop the bleeding here, boy, oh boy, it's gonna be
18:03
bad news. I'm talking real bad news for Apollo. And
18:08
let me tell you if they find something that connects
18:11
him criminally, it's gonna it's going to rock the whole
18:15
entire financial world, right, any one of these guys if
18:19
they get caught up in the financial web that Epstein
18:22
was weaving and they get themselves criminally charged, boy oh boy,
18:26
will that send a message these these congressmen, these senators
18:30
want to send a message after Finsen, Well, what a
18:33
message that would be. Clients frustrations. Pension systems, often more
18:40
exposed to political pressures, are known to be repelled by
18:44
negative news involving their investment partners one hundred percent. Fact.
18:49
You know, you get a private investor, somebody who's only
18:53
worried about increasing their wealth. They don't care about any
18:56
of this shit. But when you have a public pension,
18:59
a pension where there is a lot of scrutiny, yeah,
19:04
probably don't want that money parked with Jeffrey Epstein's good friend,
19:08
Leon Black. Some have been raising concerns with Apollo for
19:14
more than a year over the headlines generated by Black
19:17
and Epstein's relationship, According to people with knowledge of those talks,
19:22
we've reported that here for about a year now. I've
19:25
heard that from many people, many people who work in
19:28
the financial sector. A lot of people that I know
19:31
have talked about this, and they've said that people are
19:35
really scared off, and people are not comfortable with how
19:40
close Black and Epstein were. And the only reason there
19:44
hasn't been a mass exodus is because Apollo is so
19:47
gigantic and they've made people so much money throughout the years.
19:52
People are going to wait it out and see. But
19:54
let me tell you what, if things start getting squirrely,
19:57
you're gonna see a mass run for those lifeboats, folks.
20:02
Nobody's going down with this ship. Two investors said they
20:07
pressed Apollo for more information about their ties, but were
20:11
disappointed with the lack of detail. Look, if I'm investing
20:15
with you, and I'm investing big dough, We're talking millions
20:18
and millions and billions of dollars in some cases. Yeah,
20:22
you better be forthright, bro, you better tell me what
20:25
the hell's going on. And I don't just want like
20:28
the cliff notes. I want details, Nuance. I want to
20:31
know that you did your homework. Do you have an
20:33
investigator looking into this, that you've hired a private investigator?
20:37
Do you have you know, whatever mechanism it may be,
20:40
those are the questions that I would have and if
20:43
the answer is no, my question would then be, well
20:46
why not. The firm's representatives tried to assure some clients
20:52
by suggesting journalists digging into this situation would have found
20:56
wrongdoing if any occurred. That is so such bs, we
20:59
can only do so much. We don't have subpoena power.
21:03
We don't have the power to go and get these
21:06
files and look at your bank statements and the transactions
21:10
like the investigators do. All we can do is try
21:14
and get people on record, follow the story to the
21:18
best of our ability, and then disseminate that information to
21:22
the listeners or the viewers or the readers, or whatever
21:25
the medium might be. But to suggest that the journalists
21:30
digging into the situation would have had all the dirt
21:33
by now, well that's just patently false. Representatives also noted
21:39
Black wasn't the only one who had done business with Epstein.
21:42
Some clients said they were offered the possibility of questioning
21:46
Black directly. Well, that's something I would definitely look forward to.
21:52
And what does that even mean. The representatives noted that
21:57
Black wasn't the only one who had done business with Epstein,
22:00
so because of other people did business with Epstein. That's okay.
22:03
That makes it okay that Leon Black did. I should
22:05
just be okay with that. Then, I don't even understand
22:08
what they're trying to point out there. It's such a
22:09
stupid comment. Gerald O'Hara, an analyst at Jeffrey's Group covering
22:15
Apollo's stock, said he's been fielding calls from an investors
22:18
nervous that the situation at Apollo could spiral further. I'm
22:23
telling you, I've been hearing the same thing, not from investors,
22:26
but from people who work in the financial industry. They've
22:31
said that there's just this like weird talk about Apollo
22:35
and how it's never they've never heard this kind of
22:39
talk when Apollo is concerned. Right, there's always been such
22:42
a strong institution, such a staple. Nothing rocks it. They
22:45
just keep on moving. But this is something that's actually
22:48
sticking that people are talking about, and that is bad,
22:52
bad news for Leon Black and Apollo. But even then
22:58
private equity fund client it's typically agree to have their
23:01
money locked up for years. The risk is into existing funds.
23:05
It's to Apollo's ability to attract new money, and that
23:10
is the biggest slam to them because without their fundraising,
23:13
without raising new money, it's a it's a rap. They'll
23:16
have to shut up their shop. There'll be no way
23:18
that they can conduct business if they're they're not raising
23:22
new funds every year, every quarter, and that that is
23:26
very disturbing. If you're Apollo, there's no doubt about that.
23:32
This could certainly have an impact on future fundraising rounds,
23:36
O'Hara said. Bloomberg reported in April that the firm aim
23:40
to eventually raise twenty billion across several new funds to
23:43
take advantage of dislocations and credit markets, as well as
23:47
private debt translation so that they can get busy with
23:52
the transfer of wealth, so they can steal from the people,
23:55
so that they can take more money from the middle
23:57
class and enrich themselves more, all at the same time
24:00
while hanging out with people who abuse your children. How
24:04
awesome is that? Leon Black's a hell of a guy,
24:07
isn't he? The absolute transfer of wealth that has occurred
24:13
in the past six months is sickening Black's regrets. The
24:19
two men have been acquaintances since at least the early nineties.
24:23
From time to From time to time, Epstein met with
24:26
Black at Apollo's New York offices, and he pitched personal
24:30
tax strategies to the firm's executives. Bloomberg has reported again,
24:36
why do you need Jeffrey Epstein pitching you tax strategies?
24:40
What has Jeffrey Epstein ever accomplished to make a guy
24:43
like Leon Black take him seriously? That's the question you
24:48
have to ask yourselves, folks, and we have to keep
24:51
digging for that answer. Apollo conducted an internal review into
24:58
its involvement with Epstein to ensure that any ties went
25:01
no further than the firm's co founder. People with knowledge
25:04
of the matter said, last year, so he was in
25:07
the Apollo offices pitching all this shit to Black, and
25:10
he never talked to anybody else out Apollo. None of
25:13
the other executives. Huh, nobody else sat in on those meetings.
25:16
It was just the two of them. That's rather intimate.
25:18
Was it candlelight? Did they share a milkshake with two straws?
25:23
How about a plate of spaghetti? Like Lady in the Tramp.
25:30
That included examining emails and records to determine there was
25:33
no connection between the company and Epstein. One of the
25:36
people said, with the benefit of hindsight and knowing everything
25:41
that has come to light about mister Epstein's despicable conduct
25:45
more than fifteen years ago, I deeply regret having had
25:48
any involvement with him, Black said in a letter to
25:51
Apollos Limited Partners dated last week. Look, man, Leon Black
25:57
is in it up to his ears. He had big
26:00
problems on the way, just like the rest of these guys.
26:03
And if this does move in to the realm of Rico,
26:08
like I think it's going to, like it almost has
26:11
to at this point, and the prosecution and all of
26:15
these regulators are serious about sending a message to the
26:18
banking industry and the rest of the idiots who are
26:21
caught up in the Finston files, Well here's your chance.
26:26
Why don't you make an example of Jess Staley, of
26:29
Leon Black and the rest of these guys that enable
26:33
Jeffrey Epstein's decades long crime spree. If you like to
26:39
contact me, you can do that at Bobby Kapucci at
26:41
ProtonMail dot com. That's Bobby c ap u Cci at
26:47
ProtonMail dot com. You can also find me on Twitter
26:50
at Bobby underscore cap you Cci. All of the links
26:56
that go with this episode can be found in the
26:58
description box. They were going to talk about Apollo Global
27:02
a little bit more and another face saving maneuver that
27:07
they're trying to pull off. Now we know that Apollo
27:12
Global is shrouded in fallout from the Jeffrey Epstein situation.
27:18
We know that Leon Black has had to take a
27:20
step back. We also know that they had a report,
27:27
a internal investigation that was conducted by a quote unquote
27:33
outside law firm that found out while there was some
27:37
mistakes made, there was no malfeasance on the part of
27:41
Apollo Global or on the part of Leon Black. And
27:45
they're so worried about making sure that things are good
27:49
in the future that they're going to appoint j Clayton,
27:54
former SEC chair under Trump as their new guy, you know,
28:01
come in to make sure things good, you know, compliance guy.
28:04
That's what That's what they hired J Clayton for. My
28:08
question is, are we really supposed to trust j Clayton,
28:13
mister Wall Street himself, the guy that Trump appointed to
28:17
be the top cop on Wall Street? Can you guys
28:20
refresh my memory? How many people went to prison for
28:24
malfeasance on Wall Street during the Trump administration? Not very many?
28:29
And a guy like Ja Clayton played a big part
28:32
in that. So while this might look good to people
28:37
who are not in the know, for those of us
28:39
who follow this case, for those of us who follow
28:41
Wall Street, we all know that Jay Clayton is just
28:44
another scuzzball. Let's jump into this article by the New
28:49
York Post and let's see how Apollo Global is trying
28:54
to save face. Headline, ex SEC chairman j Clayton joins
29:00
Apollo board amid Jeffrey Epstein reckoning. This article was authored
29:06
by Thornton mckenry. So they had the investigation right, that
29:14
didn't yield what they wanted. The public wasn't satisfied, so
29:17
they had to move to the next step. All right,
29:19
well we have to have Leon Black step back. Public
29:22
still not satisfied. All right, how are we going to
29:24
save face? Well, let's get the ex SEC chairman Jay
29:28
Clayton a step on board. Meanwhile, you're bringing on a
29:33
guy who is shrouded with his own baggage coming from
29:36
the Trump administration. And secondly, we all know who Jay
29:40
Clayton is. We followed Wall Street, we know the deal.
29:44
This isn't somebody that you bring up and you hit
29:47
your cart behind. Give me a break already. Here's an idea.
29:52
I know this is a novel idea, but here's an idea.
29:55
Why don't you admit that Leon Black is a scumbag,
29:59
cut all with him, and then you won't have to
30:02
worry about saving face because the public will see that
30:05
you actually mean what you say. In lieu of that
30:10
it's all talk. Apollo Global is getting a big name
30:17
to fix its big problem. Again, a big name doesn't
30:21
automatically mean that somebody's good at what they do. A
30:24
big name is just that a big name. I want results, okay,
30:30
I don't want fanfare. The private equity giant on Thursday
30:35
named former Securities in Exchange Commission chairman Jay Clayton as
30:39
its lead independent director as the firm continues to reckon
30:43
with the fallout from founder Leon Black's ties to Jeffrey Epstein. Again,
30:49
you could end all of this. Leon Black should have
30:52
nothing to do with the company. He shouldn't be on
30:54
any board. He should be completely dismissed, and then he
30:58
can go swim around and his billions of dollars staring
31:01
at his picture of the scream. Because in actual society,
31:08
there's no place for people like this okay. And I
31:10
don't care how rich he is, or how powerful he is,
31:14
or any of that jazz that shit. It doesn't impress me.
31:16
I don't care. This dude gets up in the morning
31:19
and he puts his pants on the same way we do,
31:22
puts on his socks the same way we do. And
31:24
guess what if he cuts his finger, he bleeds the
31:27
same way we do. So why should he not be
31:30
criticized the same way anybody else would be? So f
31:35
Leon Black, f Apollo Global, and f this move to
31:39
higher j Clayton, put that in your pipe and smoke it.
31:47
An independent investigation at the four hundred and fifty five
31:51
billion dollar firm revealed in January that billionaire Black paid
31:55
the sex criminal pedophile who committed suicide in prison in
31:59
August two thousand in nineteen, allegedly one hundred and fifty
32:02
eight million dollars between two thousand and thirteen and two
32:06
thousand and seventeen for professional advice on tax audits, wealth management,
32:12
and estate planning. So basically, I don't want to rehash this,
32:17
but we have to address it right here. One hundred
32:19
and fifty eight million dollars for advice he paid more
32:24
money to Jeffrey Epstein for quote unquote advice than the
32:27
historically black colleges get in financing from the government. Chew
32:32
on that for a minute. I know it makes me
32:34
violently ill. It should do the same to you. The
32:39
obscene amount of money that we're talking about here, folks,
32:42
it's hard to wrap our minds around. It's it's just
32:45
numbers on a page to us, right, But think about it.
32:48
Think about how life changing it is when we get
32:51
a few thousand dollars. I mean, I'm certainly not rich.
32:54
You know, I've had my days where a few thousand
32:56
bucks hasn't meant anything in the past, But these days, hell,
32:59
few thousand dollars a big deal. Now think about one
33:02
hundred and fifty eight million dollars. Think about how hard
33:05
you work every single day for your salary. Then think
33:08
about what Jeffrey Epstein raked in for his advice. And
33:14
tell me that that sits right with you, Tell me
33:16
that that sounds normal. Now, we're not talking about a
33:20
helpless man here with Leon Black, somebody who had no
33:23
access to advice or professionals. This is a man surrounded
33:27
by supposedly the smartest people in the room, but he
33:29
has to go and get outside help, outside council from
33:33
Jeffrey Epstein. Sorry, I'm not buying it. Since Epstein had
33:41
no formal legal or financial training, that explanation left legal
33:45
experts scratching their heads. Well, just to be clear, I
33:49
am certainly not a legal expert. In fact, I am
33:52
only an expert in sarcasm. But I'll tell you this
33:56
much right now. It left me scratching my head too.
33:59
There's no way in hell you can justify this one
34:02
hundred and fifty eight million dollars for advice. Give me
34:06
a break. Okay, what is this guy running around? He's
34:10
the the oracle of Omaha. All of a sudden, everybody
34:14
has to have his ideas. Everybody needs his advice. Black
34:24
sixty nine announced that he will step down as CEO
34:27
in July, but will nevertheless remain the chairman of Apollo's board.
34:31
And there's the hustle, right They're showing you what's going
34:35
on in the right hand that way, you don't pay
34:37
attention to the left hand. It's the age old sleight
34:42
of hand trick. And that's what they're doing right here. Oh, well,
34:44
he's gonna step down, but he's gonna stay on the board.
34:47
See such a hustle. Leon Black needs to be completely
34:51
and utterly jettisoned from this company. Launch this dude into
34:56
space because he is not and I repeat not going
35:01
to be able to avoid what's coming down the pipe.
35:04
And Apollo Global, well, you better get ready for the
35:08
reckoning that's gonna come when we get to a point
35:13
where there's actual trials and evidence is being presented. And
35:19
I'll tell you what, it is not going to be
35:21
a good day for these people. That is certainly how
35:24
I see it. Anyway, Clayton fifty four left the SEC
35:30
in December and will return to the white shoe law
35:32
firm Sullivan and Cromwell, where he was a partner representing
35:36
clients like Goldman Sachs before Donald Trump tapped him to
35:40
be Wall Street's top sheriff more like the sheriff of
35:43
Nottingham Or how many people did this guy put in jail?
35:46
How many of these rich scumbags felt the hammer under Trump?
35:51
Not many. Trump really didn't go after the white collar crimes,
35:54
and it was one of his biggest failures in my opinion.
35:57
It's not talked about nearly enough because it's not Seles right,
36:01
it's not Oh, Trump was in bed with insert dictator here.
36:05
But sometimes it doesn't take the salacious nonsense right. You
36:09
got to get in and get into the boring work
36:12
because a lot of times that's where the gems are produced.
36:15
How long did I tell you folks at the Russia
36:17
Angle was garbage for the government to go after Trump
36:20
that way. If you really wanted to go after Trump,
36:23
you should have went after his financials from the jump.
36:26
And now you see that right, and you see the
36:31
New York State going after Trump's financials. That's what should
36:34
have happened from the beginning. But no, and this guy Clayton,
36:40
Jay Clayton, is just another swamp beast, another person from
36:44
the financial sector, another guy who is friends with all
36:48
of these scumbags. He's supposed to be policing, and they
36:52
want us to think that he's going to go in
36:54
there and completely and utterly be on the side of
37:00
what's right. Meanwhile he's drawing a paycheck from Leon Black Lead.
37:07
Independent directors often act as something of a check on
37:10
the chairman of a corporate board, giving shareholders a voice
37:13
and keeping an eye on how the chairman executes his duties.
37:17
So this is the guy that we could we tap
37:19
on Jay Clayton. You couldn't find anybody else. Why Jay Clayton.
37:24
What sort of relationship does he have with this company?
37:27
How many people in this company has he worked with?
37:29
How many people at Apollo Global have fattened his pockets?
37:33
These are all the questions that need to be asked.
37:39
Reports World in January that Black's co founders Josh Harris,
37:42
Harris and Mark Rowan had pushed for Black to leave
37:45
the firm entirely in the wake of the Epstein revelations,
37:48
but that intense agreement was reached in which Rowan would
37:51
take over his chief but letting Black stay on as chairman.
37:55
And when that whole thing was happening, I told you
37:57
that I had talked to some of my sources in
37:59
the finalinancial sector and they said that it was one
38:02
hundred percent legit that this was happening. There was a
38:05
battle royale in the boardroom, and that Josh Harris especially
38:10
was keen on getting rid of Leon Black. And I
38:14
don't see that changing. I don't see Josh Black changing
38:17
his mind anytime soon. And I would expect there to
38:20
be like an Abramson Abramson situation here where we have
38:25
a back and forth negotiation going on forever, basically until
38:31
Black is forced to step down. Because Josh Harris doesn't
38:35
strike me as the type of guy that just gives up, right,
38:38
not the kind of guy that just says, all right,
38:40
well I've been I've been had. You guys pulled an
38:42
end around on me in the boardroom, got rowing as
38:45
the CEO, so I'm just gonna give up. Certainly does
38:49
not strike me as the type, so expect more fireworks
38:52
from this boardroom. Black said Thursday that he welcomes Clayton's
38:56
addition to Apollo. I am pleased to welcome Clayton as
39:00
lead independent director of Apollo. Black said in the statement.
39:04
We undertook a thoughtful and deliberate process and are proud
39:08
to have someone as distinguished as Jay serve in this
39:10
newly created role that reflects the strong corporate governance enhancements
39:15
we continue to implement. Here's an idea. All of this
39:19
could be avoided if you would shelve your pride and
39:22
step down, Leon Black, but you won't. You're a power
39:26
hungry asshole who facilitated Jeffrey Epstein's abuse, helped fund his
39:33
trafficking ring and continue to remain friends with him even
39:38
after his conviction. There is nobody on this earth that
39:42
you can hire to fix that. If you'd like to
39:47
contact me, you can do that at Bobby Kapucci at
39:49
protonmeil dot com. That's bo B b Y c ap
39:54
Ucci at protonmeil dot com. You can also find me
39:58
on Twitter at b O B b Y Underscore c
40:02
A p U C c I