I need some questions/talking points from those of you who understand the economic stuff....
🧐 Research Wanted 🤔
We have a Senate candidate who is a filthy rich investment banker. We need to be feeding him questions about the role of the Fed and other pertinent things but I don't understand it well enough to phrase the questions. We've got to sink this empty suit and quickly. Any help appreciated...
One thing about investment bankers. They have their own language that you won't understand and half the time even they don't understand it. 2008 happened because they fooled themselves with derivatives so complicated nobody could figure it out why the underlying assumptions were wrong. Attacking someone like this in his own domain is a mistake. You'll never win the argument. You need to take an asymmetric approach rather than "appropriate" questions.
Exactly 👆
u/Emyrylde , don’t play in a field you have no idea about, you will be far outgunned, bamboozled, and the conversation will be academic at best … the responses to your questions will either be corporate bullshit speak, or so far above your head you will be short-circuiting trying to understand how this asshole contributes to society in any meaningful way.
Keep it simple, pragmatic, on-the-ground, and REAL.
It’s also best to tailor the questions specific to the State you’re in.
3 areas to question him on…
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Inflation — “We were told repeatedly by the Fed that inflation was transitory, and assured it would pass, all the while we saw the prices of groceries, rent, (insert whatever else is top of mind local to you), rise by 15-20% on average… now, the Fed has raised the official inflation number to 7% which is far below actual prices …
1 = As an investment banker, what was your role in questioning the State and Federal Central Banks narrative during this time as you had access to much more in depth data than the general public? (This questions what he did during this time in his current role… you will get a bullshit/corpo answer, but the key is to see if he agrees with your data-driven question, or not. If he snakes his way out of data… you know he’s in on the take, period)
2 = If elected, what is your accountability plan towards your constituents as opposed to your colleagues in Wall Street? (This is a leading question to see how good he bullshits)
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Taxes — “under President Trump, the tax coded was simplified and reduced for the majority of hardworking Americans, this meant we were able to (1) earn more, and (2) pay less taxes on our hard earned money. This is not the case today, with the rise of prices due to inflation AND the increase in Taxes across both the State and Federal level… we are earning less, and paying more on taxes…
1 = As an investment banker, your tax obligation is very different compared to everyday Americans, do you have a plan to reduce the tax burden? If so, what is it? (a question to warm up his bullshit box)
2 = According to published data for both Congressman and Senators, the vast majority of their wealth are from investments in assets such as equities .. this ensures their tax burden is lessened and very much different from everyday Americans. Sir, if you may… would you be willing to give us an idea on where your net-worth is invested in? Will you commit to transparency? And as a follow up to that, how will we know you fully understand the challenges we face when you are not facing them yourself? (the sly politician will come up with some bullshit story about how he is like us because he’s been there, or use a family member or some friend as an example… the point here is to see if he projects OR if he is open to criticism)
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Investment thesis — “As an investment banker, your experience in ensuring the growth of your investments is paramount in ensuring we also invest in the growth of our State…
OK so this is where you would need to do your research. Look up the financials of the bank he runs/work at… and study the investments vehicles they have/contributed to. What you’re looking for is if the investments align to your objectives or not… so I’m going to make shit up down here, but you get the idea
1 = Sir, in this great State of XYZ, the biggest issue we have is a lack of investment in 123 … however, according to the financials for your Bank, you’ve hardly invested in our State specific to these issues. Why is this the case? (this question puts him in a position that you’ve done your damn homework and he can’t bullshit you on this)
2 = If elected, what would your Investment Thesis be for the great State of XYZ? (this is open ended, if he did his homework and has true conviction in his duty, he will easily list it out … the What, the Why, and the How)
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At the end of the day, investment bankers DO NOT give a shit about the everyday American. Their JOB is to take advantage of you, this is what they do, be it intentional or not. The SYSTEM is designed this way… Wall Street is designed this way.
Well done!
E cellent questions and insights, I really hope op notices.
I didn't know autism came in an "interview" flavor. Interesting...
Joking aside: Brilliant reply my friend. Keep that brain well oiled. Tis' a work of art.
quality post, hat tip
Damn! You are the smartest guy in the room tonight! Thanks for covering this and the info you provided.
Fooled themselves? It was a perfect plan. They bailed themselves out while increasing their assets 100x from foreclosures. There was no foolery going on within the circle.
I second this statement.
2008, yep, that was the year my husband lost his job and the company he worked for for 25+ years, up and moved to Texas! Was a crap shoot few years after that.
Same can be said of lawyers.
“The Fed prints dollars and loans them to the government, who then pays back this loan with interest. Who owns the Fed and what have they done with the trillions of dollars of principal and interest they have collected over the years?”
Ask only questions you know the answers to. Cliche but yet; very true when especially it comes to congress and finance.