Second Largest Bank Failure in U.S. History + New Contender for Least Competent Member of the Biden Admin
The Rich Zeoli Show
Audacy
4.9 • 1.6K Ratings
🗓️ 2 May 2023
⏱️ 183 minutes
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Summary
The Rich Zeoli Show- Hour 1:
3:05pm- According to The Wall Street Journal Editorial Board, the Biden Administration is seeking to implement a new rule which “will raise mortgage fees for borrowers with good credit to subsidize higher-risk borrowers. Under the rule, which goes into effect May 1, home buyers with a good credit score over 680 will pay about $40 more each month on a $400,000 loan, and upward depending on the size of the loan. Those who make down payments of 20% on their homes will pay the highest fees. Those payments will then be used to subsidize higher-risk borrowers through lower fees.” You can read the full editorial here: https://www.wsj.com/articles/upside-down-mortgage-policy-212fd736
3:15pm- In response to the expiration of Title 42, President Joe Biden announced that he will dispatch 1,500 active-duty military personnel to the U.S. Southern Border to help prevent illegal border crossings from surging.
3:30pm- Flashback: During an interview with Ezra Klein in 2015, Senator Bernie Sanders (D-VT) said he vehemently opposed “open-borders” and claimed it was a right-wing proposal being supported by the Koch brothers—alleging that Republicans wanted relaxed border security in order to drive down the cost of labor and, subsequently, enhance the profits of large corporations. How has the Democrat party changed its stance on border security so drastically in just 8 years?
3:50pm- Flashback: In 2018, in response to the Trump Administration’s decision to send troops to the U.S. Southern Border, then-Senator Kamala Harris claimed the act was “inappropriate” and “political”—so, then why is the Biden Administration doing the very same thing now? Was Harris simply attempting to politicize the issue in 2018?
4:05pm- During the Senate Judiciary Committee’s hearing on Supreme Court Ethics Reform, Sen. Ted Cruz (R-TX) stated that the hearing’s primary intention was to destroy the reputation of ideologically conservative Justices—specifically Justice Clarence Thomas. Sen. Cruz also condemned Senate Democrats for attempting to reduce funding for Justice security even after the attempted assassination of Justice Brett Kavanaugh following the release of a leaked draft of the court’s decision in Dobbs v. Jackson Women’s Health Organization, which ultimately upended Roe v. Wade.
4:15pm- The Wall Street Journal’s Editorial Board writes, “Senate Democrats are holding another hearing on ‘Supreme Court Ethics Reform’…and it’s important to understand that this isn’t about ethics at all. This is another front in the political campaign to delegitimize the Supreme Court, with a goal of tarnishing its rulings and subjecting it to more political control.” You can read the full editorial here: https://www.wsj.com/articles/supreme-court-ethics-reform-hearing-senate-democrats-john-roberts-clarence-thomas-ketanji-brown-jackson-sonia-sotomayor-d0304d65?mod=opinion_lead_pos1
4:30pm- Nicholas Tomaino—Assistant Editorial Features Editor at The Wall Street Journal—joins The Rich Zeoli Show to discuss his latest editorial, “Politico Aims at Gorsuch and Misses.” Politico’s Heidi Przybyla alleges that the sale of a property linked to Neil Gorsuch amounts to an ethics problem for the Supreme Court Justice. But as Tomaino points out, Justice Gorsuch disclosed the transaction and “didn’t own the property directly. Rather, he held a 20% share in Walden Group LLC, a company he and two partners formed when they bought the house in 2005, before Mr. Gorsuch was a judge. The company listed the property for sale in 2015, asking $2.495 million, and sold it to Mr. Duffy two years later for $1.825 million.” So where is the ethics problem? You can read Tomaino’s full editorial here: https://www.wsj.com/articles/politico-aims-at-gorsuch-and-misses-disclosure-colorado-ethics-reform-durbin-87a4fc50?mod=opinion_lead_pos7
4:55pm- During a recent episode of his podcast, Joe Rogan suggested that former Fox News host Tucker Carlson should appear on the online video platform Rumble.
5:05pm- The Drive at 5: President of Thomas Jefferson University Dr. Mark Tykocinski was reprimanded via email by the institution’s Chief Executive Officer Joseph Cacchione for “liked” Tweets that questioned the efficacy of gender affirming surgeries for children. Should Dr. Tykocinski have been forced to apologize? Zeoli notes that it appears academia now only accepts dangerous versions of “group think.”
5:20pm- The Mystery Movie Clip: Rich forgets to ask caller twelve for the name of the film…
5:40pm- According to a new poll from the Harvard Kennedy School of Government, young Democrats are abnormally depressed.
6:05pm- According to a report from channel 8 WISH-TV in Indiana, Councilmember Ryan Webb has announced that he will now be identifying as a “lesbian woman of color.” Webb appeared on Fox News with Jesse Kelly to explain his decision to be his “true self” publicly for the first time.
6:30pm- In response to the collapse of First Republic Bank, White House Press Secretary Karine Jean Pierre stated the Biden Administration is very confident there will be no more banking failures. Rachel Louise Ensign and Ben Eisen of The Wall Street Journal write, “[r]egulators seized First Republic Bank and struck a deal to sell the bulk of its operations to JPMorgan Chase Co., heading off a chaotic collapse that threatened to reignite the recent banking crisis. JPMorgan said it will assume all of First Republic’s $92 billion in deposits—insured and uninsured. It is also buying most of the bank’s assets, including about $173 billion in loans and $30 billion in securities.” You can read Ensign and Eisen’s full report here: https://www.wsj.com/articles/first-republic-bank-is-seized-sold-to-jpmorgan-in-second-largest-u-s-bank-failure-5cec723
6:45pm- On Tuesday, Interior Secretary Deb Haaland testified at a Senate Energy and Natural Resources Committee hearing where she seemingly claimed there were too many jobs in America for “blue collar workers.” Senator Josh Hawley (R-MO) questioned Sec. Haaland about the Biden Administration’s “clean energy” agenda and its habit of promoting reliance upon foreign nations for the mining of precious metals and minerals necessary for the development of batteries used in electric cars.
Transcript
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| 0:00.0 | We P-H-D-W-P-H-D-H-D-W-O-G-L-H-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D-D- |
| 0:30.0 | Of course, well, as you say, the Democrats in Congress are trying to destroy the separation of powers today as they go after the Supreme Court. Why? Because the Supreme Court's conservative and the Supreme Court overturned Roe v. Wade. To now Democrats want their revenge and they're doing it under the guise of ethics and these are people that have no ethics. Good afternoon. Welcome to the show. Glad you are here today on a Tuesday 855-3912-10 on Twitter at Rich. Ziole, thank you for being here today. We also have troops going to the border. |
| 1:00.0 | We'll not actually be shooting at the cartels or stopping any of the drug dealers from coming over the country. They'll be assisting with things. And of course, none of those things will be law enforcement related on Twitter at Rich. Ziole, if you'd like to weigh in today and everything we're discussing. Plus, we're getting closer and closer to the debt limit. I see right now some senators are speaking live and they are saying right now. It is time for Biden to negotiate on the debt ceiling limit. We'll see what comes of that. |
| 1:30.0 | Here's your secretary, Deb Hollande, who might be a bigger moron than Alejandro Mayorkas, which is saying a lot. In addition to that, when you look at what's happening locally with a bill that's about to pass the Pennsylvania legislature, HB300, this is a real problem for freedom and for religious liberty. And it looks like it's going to be very, very close to passing in the House in the Pennsylvania House. We've got an update on that for you from our friends over at the Pennsylvania Family Policy Institute. |
| 2:00.0 | And I don't know. I mean, I'm just looking at the news today and I'm realizing that as everybody's talking about 2024, new polls. So Donald Trump would be clobbering Joe Biden. If the election were happening right now, clobbering him. And particularly among Hispanic voters who have soured on Joe Biden, because everybody's soured on Joe Biden. I mean, you don't have to think look very far here to find that the people are struggling in this economy. And while that's happening, the Biden administration wants to steal from you. You know, take your money. You're on the |
| 2:30.0 | hard-earned money and punish you for having good credit. So if you had good credit and you're able to get a mortgage and you did everything right, you did what you had to do. You manage your bills. You play within the rules. You paid your bills on time. You didn't take out too much credit. But you took out enough. And then you paid it and you were responsible. In other words, you were a responsible lender or borrow, I should say your responsible borrower. And maybe there was a time in your life when your credit wasn't so hot. I remember after college, mine was a was a train. But you fix it. You work |
| 3:00.0 | on it. You build it up. You get married. You have a woman who's very financially responsible and you pay your bills on time and you watch as the numbers go up over the years. And then suddenly you find out you're being punished for that. And now you have to subsidize people who don't have good credit so that they can get mortgages that they may not be able to afford or maybe shouldn't have because they're not responsible borrowers. And that's happening as well. Because once again, we have an out of control federal government where the |
| 3:30.0 | executive branch of government just does whatever the hell it wants, whatever it wants to do. They don't they don't care. The executive branch of government. And they will do whatever they want to do. So please when I tell you that something has to be done here to reign in the executive branch of government. And yesterday I talked about how the Supreme Court of the United States of America has an opportunity to do just that when they do something when they reign in the Chevron decision that basically says federal agencies |
| 4:00.0 | you can do whatever you want to do. Whatever you want to do. Whatever you want to do. This is what has become a problem with the federal government, particularly the executive branch of government being unaccountable, absolutely thinking that they are completely powerful. When Congress doesn't have to do a damn thing. There's no approvals of anything. They don't have to worry about turning around and saying, yes, let's vote for this or no, let's not vote for this or debating or arguing or trying to rally votes to pass something. They don't have to do any of these things. |
| 4:29.0 | That's the executive branch of government does all of it for them and does everything. Bands things, makes rules, limits your freedom, takes things away from you, finds you, penalizes you and ultimately robs you blind, robs you like what the federal housing administration is trying to do with this mortgage rule robbing you taking your money. |
| 4:47.0 | Just come and get in saying we're going to take your money. We're going to redistribute it. And we have no right to do this. We never passed a look. Nobody passed a law saying that you had to pay a a good borrower subsidy. |
| 4:57.0 | Because that's what it is, right? It's a good borrower subsidy. You paid your bills on time. You were a good borrower. Now you have to be punished for it. |
| 5:05.0 | Let me talk about rewarding bad behavior in this country and talk about punishing good behavior. This is exactly what I'm talking about. |
| 5:12.0 | Now, the end of Title 42 is upon us very, very soon. The Biden administration will be ending Title 42. And when they do this, that means that we're going to have an even bigger surge at the southern border. |
| 5:24.0 | It has been a disaster at the southern border, a disaster. You know this. I know this. Democrats know this too, but the difference is Democrats like it. They're happy about it. |
| 5:33.0 | Why is Biden sending 1500 troops to the border? Because it's a show. It's theater. These, these troops will not be allowed to do anything. |
| 5:43.0 | They won't accomplish any things they won't be allowed to. They're not going to actually engage the cartels. They're not going to actually do anything. |
| 5:49.0 | They're going to assist with logistical support, but it's a show and Biden can say, well, I'm doing something. Look at me. I'm not. Hey, I'm doing something. Look at this. |
| 5:58.0 | Huh? We're doing something. We got troops down the border. We're doing stuff. |
| 6:02.0 | You know as well as I do nothing is going to come of this because they don't want anything to come of this. |
| 6:07.0 | You have a party right now in this country that believes that that border should be open because who the hell are we to tell people they can't come here? |
| 6:15.0 | A bunch of straight white male paternalistic, capitalistic white supremacists. We don't have the right to tell people around the world they can't come here. |
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