Latest / OneLegUpAlex Media / One Leg Up On News 12-26-24 Not All Bonuses Are Federally Insured at the FDIC !

Transcript

One Leg Up On News 12-26-24 Not All Bonuses Are Federally Insured at the FDIC ! · OneLegUpAlex Media

• 0:00
  Speaker 1: Hey, welcome inside to the One Leg Up Network. I'm
• 0:03
  Speaker 1: Alex Garrett and once again want to tell you about
• 0:05
  Speaker 1: skill Share, in which this podcast is powered by, and
• 0:09
  Speaker 1: right now, if you use my link thanks to Impact
• 0:13
  Speaker 1: dot Com in collaboration with skill Share, you can get
• 0:16
  Speaker 1: twenty percent off using the promo code Create twenty. That's
• 0:20
  Speaker 1: Create twenty if you use my code or my link
• 0:24
  Speaker 1: in the description below. Yes, the one Leg Up Network
• 0:27
  Speaker 1: will earn commission, but this is well worth the buy
• 0:31
  Speaker 1: because right now you have the opportunity, if you are
• 0:34
  Speaker 1: an up and coming content creator and establish content creator,
• 0:38
  Speaker 1: to join six hundred thousand members take twenty five thousand
• 0:42
  Speaker 1: classes ranging from drawing and painting, marketing, music, social media,
• 0:47
  Speaker 1: creative writing, freelance and entrepreneurship, photography, productivity, graphic design, and
• 0:54
  Speaker 1: so much more. And you get to learn from eight
• 0:56
  Speaker 1: thousand teachers who are actually creative pros and industry icons,
• 1:04
  Speaker 1: and the classes range from beginner to pro. So join
• 1:09
  Speaker 1: us in the skill Share community and join six hundred
• 1:12
  Speaker 1: thousand fellow content creators right now as you can develop
• 1:17
  Speaker 1: your skills thanks to skill share and their twenty percent
• 1:21
  Speaker 1: off offer using promo code Create twenty and again my
• 1:25
  Speaker 1: link from impact dot com and skill share and yes,
• 1:29
  Speaker 1: the one loog up network will earn commission if you
• 1:33
  Speaker 1: do decide to join this community. Here's your host, Alex Garrett.
• 1:44
  Speaker 1: All right, well, after that little introduction, I gotta say
• 1:49
  Speaker 1: it's true there are some things the FDA I see
• 1:53
  Speaker 1: is not venually ensuring in their own company. I saw
• 1:57
  Speaker 1: this article on the Wall Street Journal today and I
• 2:00
  Speaker 1: was fascinated by it all day long.
• 2:02
  Speaker 2: I had to just.
• 2:03
  Speaker 1: Jump on this podcast with you because it might seem stupid. Well,
• 2:10
  Speaker 1: who cares if FDIC employees are not getting bonuses because
• 2:17
  Speaker 1: of you know, toxic workplace culture and actually our culture
• 2:22
  Speaker 1: of reported but swept under the rug sexual harassment claims
• 2:25
  Speaker 1: and all that. Well, because the current executive of the
• 2:29
  Speaker 1: fdi C that's FDICE gov right is resigning in January
• 2:36
  Speaker 1: thanks to President Trump's election. It's amazing that Martin Gruenberg,
• 2:47
  Speaker 1: who is leading the FDIC right now, was actually gonna
• 2:51
  Speaker 1: stay on board. And I'm guessing if Kamala was elected
• 2:54
  Speaker 1: he would have. But now that Trump's elected, he's now
• 3:02
  Speaker 1: going to resign in January.
• 3:04
  Speaker 2: And what does this mean?
• 3:07
  Speaker 1: Well, the punchline is that the FDIC has suspended bonuses
• 3:12
  Speaker 1: to those employees who have clearly added to this workplace
• 3:18
  Speaker 1: culture of toxicity, added to the harassment culture that the
• 3:25
  Speaker 1: FDIC currently has.
• 3:29
  Speaker 2: And has been dealing with.
• 3:30
  Speaker 1: And actually the Wall Street Journal has been reporting on
• 3:33
  Speaker 1: and investigating. But the bigger picture here is not only
• 3:42
  Speaker 1: our bonus is suspended, not only our bonuses not federally
• 3:45
  Speaker 1: ensured to the FDIC employees. See what I did there, Well,
• 3:52
  Speaker 1: their chairman, their executive is resigning, And I'm going to
• 3:59
  Speaker 1: do an investigation myself, because I wonder how many other CEOs,
• 4:04
  Speaker 1: how many other executives within the government thought it was
• 4:07
  Speaker 1: going to be so cushy under a President Kamala Harris's
• 4:13
  Speaker 1: term that they could just stay on board no matter
• 4:15
  Speaker 1: what was going on in their workplace culture. Maybe the
• 4:18
  Speaker 1: election of President Trump is leading to a lot more
• 4:22
  Speaker 1: changes than just the resignation of the FDIC chair. Maybe
• 4:25
  Speaker 1: we're going to see more sea change, if you will,
• 4:31
  Speaker 1: in twenty twenty five. Remember, the FDIC is a government entity.
• 4:35
  Speaker 1: We are paying these people's bonuses, even we're paying this
• 4:41
  Speaker 1: guy's salary, Martin Grunzberg, and yet he's allowed this kind
• 4:46
  Speaker 1: of culture where and I'm going to read exactly what the.
• 4:50
  Speaker 2: Wall Street Journal has reported. It was on the front
• 4:53
  Speaker 2: page of the Business and Finance section. Call me nerdy,
• 4:57
  Speaker 2: I don't know, but I was kind of fascinated by this.
• 5:04
  Speaker 1: Because what's happening is two dozen executives have been under
• 5:12
  Speaker 1: investigation for misconduct a year after Wall Street Journal investigations
• 5:17
  Speaker 1: revealed toxic and sexualized workplace culture at the FDIC, the
• 5:23
  Speaker 1: Federal Deposit Insurance Corps. Last week, the FDIC board unanimously
• 5:30
  Speaker 1: approved a proposal that would also scrap bonuses for executives
• 5:35
  Speaker 1: and managers if the allegations against them are substantiated. There
• 5:41
  Speaker 1: was a lot of argument about this, and they say
• 5:47
  Speaker 1: FDIC chair Martin Grunsberg. Grumberg has held on to his position,
• 5:53
  Speaker 1: and employees have complained that the agency is paying lip
• 5:55
  Speaker 1: service to affect to efforts to perform its culture at
• 6:00
  Speaker 1: There's one employee who faced allegations of inappropriate behavior has
• 6:04
  Speaker 1: since been promoted, according to document revert by the Journal.
• 6:09
  Speaker 1: Great reporting here by Gina Heb and Rebecca Ballouse, because
• 6:17
  Speaker 1: this is again a government entity, and I think them
• 6:20
  Speaker 1: whistleblowing this is helping And what does this podcast want
• 6:26
  Speaker 1: to cover accountability is a big pillar of this podcast.
• 6:33
  Speaker 1: It's one of my three a's, and they're actually writing
• 6:37
  Speaker 1: this to hold the FDIC accountable. I wish all government
• 6:41
  Speaker 1: entities would have this kind of scrutiny to the point
• 6:44
  Speaker 1: where the FDIC has to suspend bonuses. It's almost like
• 6:50
  Speaker 1: the hand was forced to. But imagine other government agencies
• 6:56
  Speaker 1: that aren't under the microscope right now and have the
• 7:00
  Speaker 1: same kind of culture and the CEOs or the chairman
• 7:03
  Speaker 1: and the also employees that may not be doing right
• 7:09
  Speaker 1: by the company or by our tax billers, I should say,
• 7:13
  Speaker 1: by the government entity.
• 7:14
  Speaker 2: It's important to say that is doing wrong.
• 7:20
  Speaker 1: So I.
• 7:22
  Speaker 2: Truly applaud.
• 7:27
  Speaker 1: The fact that this election has changed maybe the minds.
• 7:34
  Speaker 2: Of a lot more chair people.
• 7:38
  Speaker 1: Who aren't necessarily appointed by a president of voting in
• 7:43
  Speaker 1: by a board and realize it's time to go because
• 7:50
  Speaker 1: it won't be so cushy for them as it was
• 7:53
  Speaker 1: under Kamala Harris. This is a government entity, and I
• 7:58
  Speaker 1: don't think the buyingmization did anything about it. The fdi
• 8:02
  Speaker 1: C had to impose its own bonus suspensions, not anybody
• 8:08
  Speaker 1: in the DOJ or the Biden administration.
• 8:12
  Speaker 2: The fdi C did this.
• 8:17
  Speaker 1: To themselves, saving our tax dollars from being given as
• 8:24
  Speaker 1: bonuses to these executives under investigation. Don't we wish all
• 8:32
  Speaker 1: government entities work like that? Don't we wish bonuses were.
• 8:36
  Speaker 2: Not federally insured to the government employees.
• 8:39
  Speaker 1: That screw our with our tax dollars. That's my tagline tonight.
• 8:48
  Speaker 1: Let's make bonuses not federally insured for bad behavior, because,
• 8:56
  Speaker 1: for God's sakes, they're regulating banks. They're doing stress tests
• 8:59
  Speaker 1: against banks. The FED is anyway, but also the Federal
• 9:04
  Speaker 1: Deposit Insurance Corp Is really regulating banks. So to see
• 9:10
  Speaker 1: them finally regulating their own people, making sure they are
• 9:18
  Speaker 1: federally compliant enough to get the bonuses, and not federally
• 9:24
  Speaker 1: ensuring their own employees like they're pushing on every commercial.
• 9:31
  Speaker 1: On every commercial, we hear this bank is FDIC insured,
• 9:37
  Speaker 1: you know, funded lenders, you know all that other stuff.
• 9:43
  Speaker 2: Well, at least.
• 9:46
  Speaker 1: If they're going to regulate the banks, at least they're
• 9:49
  Speaker 1: regulating themselves, right.
• 9:52
  Speaker 2: I think that's a win.
• 9:55
  Speaker 1: But I wish other government entities would have this kind
• 9:57
  Speaker 1: of one leg up.
• 10:00
  Speaker 2: On the way they police their staffs. DOGE is coming in.
• 10:08
  Speaker 1: With Vivek and elon to do this kind of work,
• 10:14
  Speaker 1: because not every entity is like the FDIIC. But maybe
• 10:20
  Speaker 1: they should be this self imposing. Maybe they should be
• 10:23
  Speaker 1: this self regulating, because all these agencies go around and
• 10:28
  Speaker 1: regulate everybody else, tell everybody's what to do. We just
• 10:32
  Speaker 1: wanted them to be out of our backyard, right, not
• 10:34
  Speaker 1: in my backyard, nimbi. And that's what partially dose are
• 10:41
  Speaker 1: going to be. But it's also what the people of
• 10:46
  Speaker 1: America said when they didn't want the big government of
• 10:49
  Speaker 1: Kamala and Biden to keep going here. And this election
• 10:56
  Speaker 1: by Trump may be a sea change of resignations by
• 11:01
  Speaker 1: these cushy jobs chairmen.
• 11:05
  Speaker 2: And that's a good thing.
• 11:08
  Speaker 1: Because wouldn't you want leaders in there that aren't gonna
• 11:11
  Speaker 1: feel so cushy.
• 11:12
  Speaker 2: They're gonna feel like they have to work.
• 11:15
  Speaker 1: For their suppers, for their fancy suits, for their investment options.
• 11:29
  Speaker 1: I'm gonna make this prediction, if Brian Thompson was not
• 11:32
  Speaker 1: shot to death in Manhattan, he would have resigned. Chair
• 11:39
  Speaker 1: People and CEOs are feeling the pressure. I wouldn't necessarily
• 11:44
  Speaker 1: say because of that murderer on fifth on sixth Avenue,
• 11:51
  Speaker 1: but by the bigger picture of they know Trump and
• 11:55
  Speaker 1: Vivek and Elon are gonna come down on all of
• 11:58
  Speaker 1: this wasteful spending, like the possibility of bonuses to these executives.
• 12:05
  Speaker 1: Those would have probably rooted that out if the fdi
• 12:08
  Speaker 1: SE didn't regulate themselves. But I will look at other
• 12:14
  Speaker 1: companies and other I keep covering companies.
• 12:17
  Speaker 2: I will look at government.
• 12:18
  Speaker 1: Entities that take our tax dollars and see how they
• 12:22
  Speaker 1: regulate their own entity. And that'll be my little investigative
• 12:30
  Speaker 1: reporting heading into January twentieth. And if I find some
• 12:34
  Speaker 1: waste there, I might tag you I'm Musk and VIFEC
• 12:39
  Speaker 1: saying hey, here's what I found, and see if they
• 12:41
  Speaker 1: go after it. So it may take me a little bit,
• 12:48
  Speaker 1: but before January twentieth, which is, by the way, Mlkday
• 12:52
  Speaker 1: this year.
• 12:52
  Speaker 2: By the way, how eerie is that.
• 12:59
  Speaker 1: Before twenties, I will have a bit of a list,
• 13:02
  Speaker 1: and then I'll also dig deep and see who's actually
• 13:04
  Speaker 1: resigning from these entities.
• 13:08
  Speaker 2: Before Trump gets in.
• 13:11
  Speaker 1: Yeah, the biggest one is Jack Smith wrapping them a
• 13:13
  Speaker 1: special counsel and all the wasteful dollars we spent on
• 13:17
  Speaker 1: that investigation.
• 13:20
  Speaker 2: Because I went nowhere, really.
• 13:25
  Speaker 1: And now he's basically retired from the DOJ, But I
• 13:30
  Speaker 1: mean the other niche entities that our tax paying dollars.
• 13:36
  Speaker 2: Are going into.
• 13:39
  Speaker 1: That tell us how to live our lives, that tell
• 13:43
  Speaker 1: us how to be federally insured. Well maybe we can
• 13:47
  Speaker 1: finally see them be federally ensuring themselves.
• 13:52
  Speaker 2: And this FDI see making sure the members aka employees
• 14:05
  Speaker 2: are not federally in short of bonus is a great
• 14:09
  Speaker 2: first step being in the twenty.
• 14:10
  Speaker 1: Twenty five and I hope it keeps going and I
• 14:15
  Speaker 1: will keep reporting on that. Here all the Wollnogup network
• 14:21
  Speaker 1: and thank you Wall Street Journal for this investigative reporting
• 14:24
  Speaker 1: once again written by Gina Hebe and Rebecca Bullhouse. I
• 14:36
  Speaker 1: will tag them on X if.
• 14:38
  Speaker 2: They have it. As they are showing and reporting and
• 14:44
  Speaker 2: investigating and holding a government entity accountable.
• 14:51
  Speaker 1: Don't we wish all the media did that also, in
• 14:54
  Speaker 1: addition to the outlets and the entities holding themselves accoutable.
• 14:58
  Speaker 1: Don't you wish up media wouldn't just fawn over the
• 15:02
  Speaker 1: fact that Trump's a convicted felon, wouldn't just fawn over
• 15:05
  Speaker 1: the fact that, look how they're going after him, but
• 15:10
  Speaker 1: literally investigated a little.
• 15:12
  Speaker 2: Deeper and did a job for the news that News
• 15:16
  Speaker 2: is supposed to be doing.
• 15:19
  Speaker 1: So my one leg up on News Tonight Slash this
• 15:22
  Speaker 1: Morning goes to Genie Heeb and Rebecca Ballhouse for their
• 15:26
  Speaker 1: reporting on this FDIC investigation which The Wall Street Journal
• 15:34
  Speaker 1: has become a reason why roughly two dozen executives will
• 15:42
  Speaker 1: not be getting bonuses if these claims of allegation against
• 15:49
  Speaker 1: them are substantiated.
• 15:54
  Speaker 2: And to add that Trump.
• 15:57
  Speaker 1: Is the reason why this chairperson who's allowed this culture,
• 16:04
  Speaker 1: Martin Grumberg, is retiring in January and resigning, I should say, good.
• 16:13
  Speaker 2: We don't need toxicity in the capital.
• 16:15
  Speaker 1: We got enough of that by our Congress and our Senate,
• 16:20
  Speaker 1: not our government agencies.
• 16:21
  Speaker 2: Can't be next.
• 16:26
  Speaker 1: And I think I saw that Christopher Ray is also
• 16:28
  Speaker 1: stepping down. That's a big deal with the FBI. So
• 16:36
  Speaker 1: changes are coming.
• 16:39
  Speaker 2: And for the better.
• 16:41
  Speaker 1: One last thing here, and I feel like I've said
• 16:45
  Speaker 1: this before, but maybe I just haven't. This is one
• 16:50
  Speaker 1: of my favorite weeks of the year. Now it's added
• 16:54
  Speaker 1: basically more to it because it's Christmas and hannick a
• 16:58
  Speaker 1: week and I always loved the week between Christmas and
• 17:02
  Speaker 1: New Year's because it's always somehow laid back. You get
• 17:04
  Speaker 1: the Holiday bowls to watch, you get a lot of
• 17:09
  Speaker 1: action in sports world especially, and just a week where
• 17:12
  Speaker 1: everybody just wants to be chilled out and not live
• 17:17
  Speaker 1: on the radio, but just relaxed most of the time.
• 17:23
  Speaker 1: It's a really calm way to close out the year
• 17:26
  Speaker 1: every year when this whole week is there's sort of.
• 17:32
  Speaker 2: Nothingness.
• 17:35
  Speaker 1: Yeah, you might have to do low work here and there,
• 17:37
  Speaker 1: but overall, the idea and that the nature of the
• 17:40
  Speaker 1: week is a relaxed nature from Christmas to New Year's.
• 17:44
  Speaker 2: And I've always loved that.
• 17:46
  Speaker 1: I've always loved that kind of vibe and I vibe
• 17:50
  Speaker 1: with it. And I will say this like I might
• 17:55
  Speaker 1: have said in the past. I know I said online
• 17:57
  Speaker 1: on Facebook, there are three weeks in the I look
• 18:00
  Speaker 1: forward to my birthday week, Thanksgiving week because another relaxed
• 18:07
  Speaker 1: kind of week where business close up on Wednesday, then
• 18:11
  Speaker 1: you get home, you enjoy Thanksgiving Eve and Thanksgiving Day,
• 18:14
  Speaker 1: then Black Friday and that weekend as well, and then
• 18:19
  Speaker 1: Christmas Week, another relaxed kind of period of time where
• 18:26
  Speaker 1: your mind can just not think, like on a hamster wheel.
• 18:35
  Speaker 2: Twenty thousand times over. It could just be not numbed,
• 18:44
  Speaker 2: but just chill out.
• 18:47
  Speaker 1: And entertained by the bowl season and now this year
• 18:51
  Speaker 1: the college football playoffs.
• 18:52
  Speaker 2: You have Christmas Week, you have Honikah, and you have
• 18:58
  Speaker 2: college football playoffs. This is a really great week. If
• 19:03
  Speaker 2: you're a fan of.
• 19:11
  Speaker 1: The holidays and football and togetherness and relaxation, this is
• 19:22
  Speaker 1: your week. So take advantage of it, enjoy it. Have
• 19:26
  Speaker 1: that nice soothing week of just relaxed and just.
• 19:38
  Speaker 2: I don't know, easygoing. Is this what I'm looking for?
• 19:45
  Speaker 2: Easy going flow heading to the new year, and just
• 19:52
  Speaker 2: prepare yourself and set yourself right in the mind for
• 19:56
  Speaker 2: the new year. I think that week lets us do
• 19:58
  Speaker 2: a final.
• 19:58
  Speaker 1: Reset before where we turn the page to twenty twenty five,
• 20:03
  Speaker 1: or turn the page to another year.
• 20:05
  Speaker 2: You will be more general and as a country, I
• 20:11
  Speaker 2: think we.
• 20:11
  Speaker 1: Need that because this reset will be quite incredible in January.
• 20:19
  Speaker 1: As a nation, as a government, and as American people,
• 20:30
  Speaker 1: we must pray this reset before the bigger reset of
• 20:34
  Speaker 1: January twentieth brings us that common feeling and removes all
• 20:40
  Speaker 1: anxiety and all nervousness that some might be having.
• 20:46
  Speaker 2: Heading in twenty twenty five. It is going to be
• 20:49
  Speaker 2: a new year.
• 20:49
  Speaker 1: We just have to embrace it and thank God, we
• 20:52
  Speaker 1: have that little time to breathe before that new year.
• 20:58
  Speaker 2: So those are my three weeks let up in my mind.
• 21:01
  Speaker 1: Birthday week, Thanksgiving Week, and this great week between Christmas
• 21:06
  Speaker 1: and New Year's And wherever you may be, I hope
• 21:09
  Speaker 1: you enjoy the rest of your Christmas Week into New Years.
• 21:14
  Speaker 1: I hope you continue to light the minora if you do,
• 21:17
  Speaker 1: celebrate Hanukkah and just feel that light and spirit in
• 21:22
  Speaker 1: your soul each and every day, be on the holidays, really,
• 21:27
  Speaker 1: but each and every day during this period of time.
• 21:33
  Speaker 2: I'm Alex Garrett on the whe My God Network.