General Electric whistleblower: 'I think I have a few smoking guns' Harry Markopolos reveals fraud
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- เผยแพร่เมื่อ 14 ส.ค. 2019
- Forensic Accountant and Bernie Madoff whistleblower Harry Markopolos discusses his 175 page report claiming General Electric committed $38 billion in accounting fraud.
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“Rule number one of investing is never buy into an accounting fraud” legitimately made me lol
mark traver those are all frauds as well. Gold and silver are the only safe investments rights now.
Man, what a character this Harry fellow is. Notice, how the interviewers are left dumbfounded at his swift, direct, honest responses.
exactly
Yeah, no beat around the bush answers.
For sure they struggle to keep up with this guy, very impressive.
He also very skillfully dodged the risky questions.
@@Donovaan It's actually a lot like listening to Mueller talk. Only the facts and what he's allowed to talk about. When Gohmert when into a rant, the response was 'I take your question' which is Mueller/lawyer for 'my god you're an idiot.'
This guy needs to go after healthcare/hospital corporations.
That's for sure ! And government bureaucracy ! Soon !
Oh and main stream news agencies ! He will give them no slack for they are clearly attempting to destroy America !!!!!!!!!! And the people that pay them to do it are HUGE CRIMINALS !!!!!!!!!!!!
@ Insurance companies are usually the only one's being open, honest, and amazingly efficient. The pharmacology industry and AMA are the chief culprits of fleecing America for every Dollar saved. Insurance companies before Obama were operating at a profit while getting $1.45 per month per person insured. $15/year profit? No government can come close to that.
@@sonnymoon6465 lol nut.
@ Wrong! AMA defines a cure as a "Well managed Chronic ailment". Meaning you get to see the Dr a lot, and you will never be over it. Where is the profit in a cure? And to the Pharmaceuticals, no drug is really from nature. It must be invented from thin air so they can charge what ever the insurance companies will pay. Insurance companies were profitable at $1.45/mo per insured person profit margin. Government couldn't do that at 10 times the rate. But they never get an audit so the people can't know until it's all over and they are up Feces Creek.
*GE: Those allegations are wrong*
*Also GE: the CFO is resigning because need more family time*
Yeah, just like the Enron cfo was out right before the ship sank
I need more family time. But I work for a living
DB Edwards why not just run a Ponzi scheme? Way better way to make money
I remember Harry Markopolos. If he says there is fraud you can bet your behind there is.
AGREED.
look at their stock price now. theres no fraud
big l they probably brought their own stocks with limit fear/panic . But 40% claimed over what they’re actually worth will fuck them but next year as economy goes down hill .
@@levivv this same scenario happened with ENRON before they went under and took everyone in the company with them.
Yeah, let's listen to him. Because nobody listened to him LAST TIME!
Stone cold finance nerd! Talks like an engineer or Friday from Dragnet.
Wish more public figures talked like that.
dude just the way he talks is awesome
Shannon Love mr Harry markopolos the nerd you say! Is a former us special forces solider!!!!!!
Charles I was thinking how awesome the way he talks is too! So matter of factly
Shannon Love sounds more like an actor reading lines than a person creating replies in the moment lol
MrJohnm1965 special forces has lots of nerds
Protect this man at all costs.
He said the CEO probably can't read the financial statements! Lol, that's why he bought shares!
"... in this country it is considered useful now and again to shoot an admiral, to encourage the others".
always better to act stupid
Of course he can . What they show as write downs are bullshit . The Corporate elites receive the overspent money on the other side of the ocean.
No he did it to keep the fraud going because he was leaving with a $400 Million pension!
He's the batman of accounting
Yes sir.
No, the Rainman.
@G P more like the riddler probably
"WHERE IS THE OTHER MONEY GOING?"
Maybe he is shorting their stock
This guy is like an accounting machine. Clear, concise, articulate and factual. We need more like him.
I just think it's awesome to have a guy like this around truly cleaning the corporate swamp.
Make this guy a Senator, Hunt out the corrupt politicians lol.
@@davidarriola6412 Maybe a harder task to find the non corrupted ones - all democrat candidates (except for Sanders and Warren) are taking large donations from private donors on Wall St., even though they virtue signal with not taking PAC money.
As long as it's not Your swamp, right? Hey, loads of people are gonna get hurt so a few, very few, hedge funds reap profits. Say what you will; unless these employees are shipped overseas tax payers will suffer.
Also can we assign him a personal body guard? This mans doin the financial Lords work lol he needs to be protected
No doubt about that
Difference is he already spilled the beans! Smart man with going public!
@@demetriusmiddleton1246 agreed, but those smoking guns he mentioned hopefully arent turned on him before they see the light of day... That would be No Bueno
@@Brock_Corb I'm afraid you're right! When I commented I had only watched about the first 5 minutes. Around the 6-minute mark he started stalking about the things that he knows that only law enforcement knows as well. Now I'm with you, he needs a whole team of personal bodyguards!
It's already out there. If he was taken out everyone would know who it is.
These were extremely hard questions... Markopolos knows his stuff... GE is in trouble...
Yep
@@RichWinder-je5xn GE is going to start vomiting sunshine
Markopolos is just another polo f*g, he's just trying to make money. GE makes those Jet engines, if u bring them down, there will be a whole bunch of job loss. This guy is just another DEM
@GreenIdLady 1 how is he saving people from losing their pension on this? if he bring them to bankrupt then the people will lose their pension. U do know GE is a great company that innovates new tech that is useful for the USA economy and the world right?
Phi Tech basis for your argument?
I like how the interview starts:
Interviewer: "So how did it come to be that you released this report now, in August 2019?"
Markopolos: "Well, that's when we finished writing the report."
Sebastian George hahaha
Sebastian George haha and here we are telling the world
I like that guy! "Who wants to talk to the fraudsters." Great line.
Hahahahha I AGREE..
This is potentially the most professional, intriguing and level headed discussion I have seen on television. Wow.
I love this guy. The corporate fraud bounty hunter. GE is going to zero.
cam walker, They're going to try to take him down, Elliott Spitzer style. If he gets too good and isn't protected, they'll go for the Jeffrey Epstein method - OR we could always go back to protecting whistleblowers.
@@roxyraccoon8856
Could Markopolos be doing a Smollet??
Douglas young, We could ask Madoff.
I have an assumption that companies don’t want to pay pensions any more. This is the start of the global meltdown jus say’n
Government won't allow this company to go bust they will bail them out
This man is a legend. He needs his own movie or a documentary that focuses on him.
He was in some of the Madoff documentaries iirc
@@MilledSteel I know, that's actually where I learned about him from. What I was trying to say was, that I would enjoy a movie/doc that goes over his life and other companies he took down. His book goes over his life briefly but not in any real detail and it focuses mainly on his attempts to expose Bernie Madoff.
@The Artist Formerly Known As Mr. Furly Then you don't know Harry's story. The guy was at one point so scared of being assassinated by Madoff that he bought a gun and got a real police office to train him how to use it. He would check his car for bombs and other shit. He was so paranoid but he didn't stop trying to expose what was going on. In the end Bernie Madoff didn't even know who he was. That would be such a good dark comedy. Playing with the audience making them wonder if the SEC is working with Madoff and if Harry is going to be okay in the end. Just to find out that everything he did amounted to absolutely nothing.
@The Artist Formerly Known As Mr. Furly "Rituals" He didn't do it before his involvement with Madoff and he didn't didn't do it after. "your attempt to make him seem interesting" I didn't make it up that's really what happened. And also the tone of the movie will dictate how much the screenwriters embellish. I can understand that you find him dull but his personality isn't what makes him interesting. It's the things he does. If he was to be wrong about GE that's going to be interesting, if he is right about GE and no one else could see it then that going to be interesting.
there will be in the future, for sure. Calling it now, it's gonna be on Netflix
I really respect that Mr. Markopolos does not speculate but answers all the questions frankly and directly. He is so professional.
Amen!! Our health insurance is loaded with fraudulent issues and flat out fraud and is the only one that you pay faithfully and when you make a claim they try not to honor it in any way that they can. A terrible system that needs to be held accountable!!
We need more people like him to protect us from these crooks .
He should look at trump's businesses, both here and abroad
@@gregparrott Trump's businesses are well into being taken down and exposed - pure money laundering for the Russian mafia. He'd be wasted on Trump. Better to have him expose all the other companies; start with the ones who are paying ridiculous amounts to their CEOs.
signalfire6 Good point. But, why not have 'strength in numbers'? Perhaps he can find additional angles to further hasten trump's 'exit'. It is REALLY scary to have an unstable criminal in charge of the military, let alone the 'Nuclear Football'. I hope someone was smart enough to provide bogus launch codes. Both the 'Panama Papers' and 'Paradise Papers' should be reviewed - Keywords: trump & all Russians tied to trump and their shell corporations
Johnny Hicks we can all do this
Markopolos is *good!* I have never heard of him but this interview shows how sure he is of the data he using and his straight forward answers to the questions impress me.. The fact he's using public statements from GE is very damning.
Get his book No One Would Listen: A True Financial Thriller, he explains in nonthreatening language how Madoff's scam went and how he OVER TEN YEARS investigated him. There's also the documentary Chasing Madoff based off of it (there's some humor in it, if you're a math head you'll appreciate it), and if you get the book on Audible it's abridged, but Harry does some of the reading.
He warned people about Madeoff for years and no one listened
On his end, it's very damning. It means, he's being paid to destroy his reputation.
Like he said, he used their public financial statements as any investor or auditor would and he dug deep into it. I can't seem him doing it for a payday only. The dude actually cares for the public and hes right GE is fucked. They have a negative cash flow which is death. CASH FLOW IS KING YOU NEEE MONEY COMING IN OR YOURE DONE. Their current liabilities are greater than their current assets meaning they dont have enough cash to pay things like wages, current portion of long term debt like loans etc. They are the Titanic after hitting an iceberg and a U boat is taking aim to launch a torpedo at them.
You can tell this guy is really trying to protect people and we need more people like this taking down these corrupt corps
People? Who is he helping? His hedge fund friends that shorted GE stock! He is not protecting GE employees, not GE shareholders, not GE vendors or customers, not millions of people rely on GE for their retirement. GE is one of only few big manufacturing companies in this country. It is struggling and trying to turn around. If these allegations turn out to be not true (maybe it's true), this guy should be put in prison as he put too many people's life into risk.
Jasper Yu he is doing the job of the SEC. Investors have fled the markets because of fraudulent accounting not being addressed. I hope he goes after the bond rating agencies as well, our government regulatory agencies are a joke.
@@jasperyu642 if u actually listen to what he said was he was already investigating GE before the Hedge fund approached him, otherwise if there is collusion to manipulate the price of the stock that would be illegal. From knowing the cases this guy has unearthed i trust him, ive see documentary s on this guy and he is legit
@@Newlinjim The SEC is clearly not performing its regulatory oversight function of corporate financial statements. Time to have some enforcement action that includes prison time for executives who commit financial fraud......Let's take a look at Trump's tax returns while we are at it.....
Jasper Yu I don’t know man, bringing down Bernie Madoff in 2008 seems like a pretty good service to many people worldwide...
GE saying he should have spoken with them before he went public , Imagine bernie Madoff saying the same thing haha
Niall Ormond - Yup...
GE - "Thanks for coming to speak with us..."
Markopolos - "Why is there plastic on the floor?"
GE - "Dont mind that, we're just doing some remodeling in this basement"
@@__-pl3jg lmao
@@__-pl3jg - Then cut to Robert DeNiro inside of a phone booth crying and slamming the phone down!
Harry Markopolos is a great American.
Agree!
Remember when GE got a $139B bailout?
The US govt made them take financial assets
No, when was this?
@@Aaronisification it was part of the deal. The deal should be struck under Hank Paulson. I recall reading the govt gave some to help with sale & it was suppose give amount $/yr to help. Its been so long since the financial crisis therefore the exact details I don't remember. The structure was something similar to what was discussed at the time.
Did they holy 💩
They going to get a second bailout. Tax payers will pay to keep a fraud company going. lol It's the America Dream.
Damn, grab the popcorn. It's about to go down!!
Ozzy GE isn’t going down!
Nah no way
@GreenIdLady 1
Just because he "brought Madoff down", doesn't mean he is being truthful himself.
Ozzy Hope it crashes the whole market. I love it when investors lose money.
@@Dougie1969 Improve your literacy read his book or watch the documentary it was based off, Chasing Madoff. My suggestion is you dump your stock, no more defense contracts, and if the assholes in the Senate want to get re-elected no bailout. Congressional hearings will be fun though. I swear only wannabe venture capitalists say crap like that.
"The next chapter in GE's history is Chapter 11." Thug Life
And all of GE's appliances new and used in the city dumps.
@@parkerbohnn Didn't they sell off most of the appliance properties?
Savage
This is a direct result of the disastrous Six Sigma philosophy! Remember Six Sigma, DMAIC, & Black Belts kills innovation and destroys companies. Friends don’t let friends use SIx Sigma!!!
Its almost 2 years now. There is still a GE. No bankruptcy. I think he got it right with Enron but with GE? Meh. Not clear yet now is it?
This man took down Bearnie Madoff when everyone else turned a blind eye...
All knowledgeable investors knew the Murdof was a crook. Only the greedy investors did not .
@@anthonyC214 EXACTLY! REAL INVESTORS SPOTTED MADOFF AS A FRAUDSTER LONG AGO!
Unfortunately he didn’t take him down the SEC ignored his 5 separate reports of accounting fraud that he submitted, before Madoff turned himself in.
@@anthonyC214 always easy to say, after the fact
Including the stupid Federal Government, which were inept.
Good job Harry. Expose the frauds
@Ballers Anonymous Nothing goes to zero in a straight line. My brother-in-law owns shares in GE that's how I know they'll go bankrupt.
He uses their words against them but yet GE CEO is crying bloody murder.
exactly.
Brillant cant have a come back on that
Once again private individuals (Markopolos et al) are doing the work that the government (SEC) isn’t.
Geez imagine working for them for 40 years and then watching your savings tank.
Every major corporation is or will be doing this! They want people to work forever!
I worked for GE 22 years and lost most of my savings in 2008
Pensions are gay. Pay me straight up.
Man Ransom - not just employees, many people will have pensions with companies that have bought GE shares! This could be massive!
Dennis Grant - Sooooo Sorry!
I have lost savings, but not all of them, I should be retired, but still working ☹️
I have no idea to the story here, but that guy is brilliant, wish we had someone like that here in the UK.
In UK he would be already in prison after several attempts on his life. UK is a banana republic in the law and justice department. They would go full Assange/Robinson on him, they love literally slowly killing whistleblowers. They would cook a story about him being publikc enemy no.1 and a terrorist in white gloves. No thanks. Every sane person with minimum appreciation of being a citizen, not a sheep, should stay away from that cctv/banana laws/knife powered shithole
"I think that's the next chapter in GE's history."
Chapter 11. BYAAAHHHHH!!!!
Tens of thousands of U.S. companies will follow in their footsteps. The whole U.S. corporate accounting is just one big fraud to see who can cheat the most.
That was funny and very well could come true.
Of course. Same thing happened in Honeywell/Allied Signal/United Technologies. Pension absurdities and the fix? merge/ch 11 wiping out pensions. Far as I am concerned: Pensions are a scam. Deferred income more than 7 years in the future should be outlawed. Nothing but theft from your children holding them down so you can sit your fat ass on a beach for 20+ years doing NOTHING productive.
Buffett sold his holdings a few years ago. He had to know.
Nah, he just saw a stock that hadn't increased in 10 years.
@ thats kinda his job tho
@ Yeah pretty much everyone in NYC knows about this stuff, but they all live in glass houses so they don't throw rocks. Madoff didn't surprise a single banker in Manhattan, they know better than to talk.
Buffett is smart and dumb at the same time, kind of like Trump.
@ There are a lot of old legacy companies like GE around the same age that won't be relevant forever and most of the ones that will fail will declare bankruptcy out of nowhere. That's the square way to do it.
Can he audit the Federal Reserve?
Please, pretty please!
Audit with RICO grand jury, please? (assume They Are ALL Crooks!!)
And the Pentagon.
The Federal Reserve simply loans out a $1, with a promise to repay $1.04, and then eventually takes a pool of these promises, and like any good leverage buys it at $1.10 (so, they are eating their own cooking). If they cannot sell the new debt, they print it anyway, like there are no problems.
AMEN!!! Thank you so much for your courage and integrity!!! God Bless You!!!
I predict 0 years in jail. You will hear a lot of talk then they will walk.
He's like Rambo with his lethal calculators!
He wrote in his book: "If [Madoff] contacted me and threatened me, I was going to go down to New York and take him out. At that point, it would have come down to him or me, [and] I felt I had no other options: I was going to kill him."
Yep its official hes a badass
This guy Harry Markopolos exudes confidence. Those whom he is investigating must be shaking in their shoes.
I bet 70% of all Fortune 500 companies have this level of dirt in their accounting
This is what you go to accounting school to learn.
Yeah, and this is just talking about the illegal stuff. Multiply this by all the stuff they're actually allowed to get away with :/
ThePresentation010
I legit just watched that movie like 3 days ago. Feghetabouttit
that's not going to be the case because not all the fortune 500 companies are selling insurance, in fact he listed other companies that were selling insurance at a profit.
There would be far more frequent failures if that were the case.
I genuinely fear for this gentlemans safety after this..he should take security precautions!
He is an extremely brave man and we should all be thankful that people like this still exist in the world.
He survived his Madoff investigation, and lets hope he continues his charmed investigations.
It makes me happy and hopeful to know that there are still good people on this earth in this time of evil
Top notch financial reporting all around.
"He didn't talk to us first?"
Probably can't imagine anyone who isn't corrupt and had a bribe in mind.
American brand of capitalism, right?
10-20 years in prison for the CEO and CFO.
Wow! All the CFO's better be checking under their bed for Markopolos before going to sleep. You are the hero that I never knew I needed.
Man I wish I was as eloquent with my train of thought as Henry. Once he gets going he doesn't even stutter.
the swiftness, absurdness and specificity immediately made me know this dude is for fucking real. GE is going to die.
All the power companies are at it, along with literally every corporation. Corruption has become the norm.
Payo Pedro and if you don’t like it, you’re a communist
@@ianj705 Communism is corruption, lol
Corruption was always the norm, you just didn’t notice.
Payo Pedro Communism is just a red herring... haven’t you seen that movie Clue?
@@AS-qj6zf According to Rabbi Weiss Communism is Judaism.
Ge doesn't have to talk him, just prove him wrong, if they can
Pressure is nothing when you hold the truth.
The next chapter in GE history is chapter 11. This guy is a Savage!
On the hook again.... big wigs at GE on the yachts....taxpayers on the hook....
Imagine all those guys that worked hard their whole life and THOUGHT they could rely on their solid pension.
GE
SEARS
@A Z you dont get the full amount though
Those WERE the go to's. Now its fakebook
Eddie lambert and steven mnuchin siphoned billions out of sears, causing them to file bankruptcy.sears is now going after these two soundrels who should be in prison, only Kamala harris would Not prosecute them.
Mnuchin also helped take innocent peoples homes in ca. Foreclosing on an elderly woman who owed the bank less than a dollar!!! Harris did nothing! And mnuchin is in the trumps swamp.
@A Z If these pensions are then that is socialism - the government covering the debts of a private corporation.
Meanwhile there are many examples of corporations in trouble that turn to the employees and get them to pledge their pension money to prop up the business, only then to squander those funds to a select few top CEO CFO management types and then let the corporation burn.
Dave White most will. Very high income earners would not.
Paper shredders must be running full tilt at the GE headquarters !
At the Kremlin, they could tell when a new guy was coming in and the old guy was getting his chest ventilated by the smoke coming out of the chimneys as they burned all the records.
I didn't know Yahoo financial news could do quality journalism
Great Job, Harry the American people need’s a Bailout. Great work I sold all my GE’s Shares last year. 💯
Bruce Wayne step aside we have the real dark knight.....
haha...cool.
😆
He is the master of not getting baited on questions with speculative responses that he could go on the hook for. For sure he tucks them into his socks.
No notes.
Facts numbers reeled off
No hesitation
Concise. Specific
Compare him to the politicians.
I find him completely credible
Doug Down Under he is like James Madison to me
GE gives "revenues and profits with no expenses in between". hahahahahahaha. It's called cooking the books
Going to zero! Once they go bankrupt and get rid of their obligations they will make a comeback. But, current shareholders are screwed. Bought puts today and will continue to buy puts all the way down
There's nothing wrong with doubling your money. If fact GE should come out and tell everyone they're going bankrupt, the sooner the better.
This is astonishing, I just watched a news interview where knowledgable interviewers asked relevant questions; the interviewee answered every question, answered the actual question asked, answered directly and confidently, and actually seemed to know what they were talking about. Have I just gone back in time, or entered an alternative universe?
Love how this guy answers questions.....imagine the amount of BS cut out here.
Harry Markopolos should be made the head of the SEC.
Now your cooking with conola oil
Leif Johnson the SEC should be dissolved. And marks polos should write a new constitution
We need more people like Markopolos in the world. True heroes. He and his team can only do 1 case a year.
The bounty hunter of Wallstreet. Gotta love this guy who is a champion for the small investors unlike the SEC.
Champion for the small investor? We have yet to see one that's ever been given a chance. 2020?
So a few months after this originally aired, GE settled their case and agreed to pay $200 million in December. A lot of news articles have headlines that read that this guy guessed wrong, which is not correct. What he got wrong was that they haven't gone bankrupt yet, however, they paid $200 million, which innocent companies and their CEO's and CFO's do not do. Their CFO also resigned shortly before this.
Isn’t he the guy who brought down Bernie Madoff?
exactly.
And Enron.
He reported Maydoff numerous times, but the SEC never responded. They probably listen to him know.
If this is true and GE has to go out of business, I pray the government doesn't bail them out with taxpayer funds.
Theodore Castro I’m willing to bet they go under and get bought up at pennies on the dollar. They are far too big to just disappear. Maybe Amazon will buy them.
Same
@Othee Death the govt is involved with GE taking on the financial branch - ask Hank Paulson.
@@mylesgray3470 great point.
You mean like we did in 2008 to the tune of $182.5b? Yeah, bet you forgot about that...
I love this man's taciturn savagery.
This guy actually answers questions in a concise & intelligible manner. Politicians please take note.
Excellent information.Harry Markopolos doing good things for society. Your interview too fast paced for asorbing.
Bernie Madoff was just the beginning... *Go Get Em, Harry Markopolos !!*
@Mario Cantani And the U.S. Gov. continues to run the biggest Ponzi Scheme the World has ever known...
$4 Trillion per year and $22 Trillion in Debt with Trillions of Dollars that go missing. *End the Fed !!*
We need someone like Mr Markopolos in my country. In fact, we need more people like this in the world, in general. Intelligent, knowledgable and has the integrity lacking in so many people today. #FullSupport
DAAAAMN...we need a few hundred like this man!!!
It's not the GE appliances, its their Long Term Care policies their insurance arm wrote. Preview of things to come for over promised state governments.
Haier in China bought GE Appliances for US$5.6 billion in June 2016.
It's the U.S. and world economy turning to ashes. They'd go chapter 11 even if they were an honest run company.
Great panel, compare this to the Fox coverage or the wallstreet clown of nbc
I thought the same thing.. It was a great panel.
Actually nothing new here about the turn of the century some Lord Kylsant in England went to prison for earnings manipulation. Word on the street everyone in the c suite was horrified as everyone was doing it.
No they had to ask hard question. No matter the track record they still have to interrogate the issue. They do not want a Johnathan Lebed case.
How long before Markopolos is Epsteined??
[Ep`steen] _verb_ to commit Hari Kari like a Harry Houdini
Love the head tilt as he answers each question. So unbothered l! I love it
Markopolos - living legend.
This guy is a genius
Hats Off Man.. Harry Markopolos.. You are a HERO.. Great Respect for you Man..
This is EPIC! its rare a finance report makes me filled with joy. I love how he is so brutal in his comments.
He's the Edward Snowden of accountants.
Well get ready for 200,000 + Unemployed people.......
Making America great again!
Hey moron.
It doesn’t matter whether it’s Republican or Democrats at the helm.
BOTH are there to enrich the corporations. Your corrupt congress is to blame.
But way to pick a side, because that’s EXACTLY what they want out of your 2 braincells.
ALL of the major problems we have now are due to corporate values being applied to society
Learn to think for yourself for once
I can GETZ my exercise with the steel toe of my boot up all 200,000 of their arses! Keeping in shape whilst reaming their deserving arseholes with my boot/boots.
This fellow; Harry Markopolos is very interesting, he takes his work seriously. .. I hope we hear more from him.
Thank you for the good work! Keep calling out corruption.
Nothing will happen to the largest US defense contractor.
now thats a really good response!!
very 4d chess, bet you anything that if he follows this financial rat hole itd lead him to the massive
22 trillion that the dod and pentagon is hiding with massive,MASSIVE, accounting fraud.
The tr3-b aint cheap folks.
The largest US defense contractor is Lockheed Martin, not GE.
You mean the corporate owned government will not bite the hand that feeds it?
Ya don’t say!
The alleged fraud is purported to be in the insurance division.
@@hagdore Exactly. More than likely Lockheed and others will buy GE assets at fire sale prices after they file Chap 11
Didn't WE bail them out? When do WE get a BAILOUT?
Sanders 2020. Register to vote. Make sure your friends and family vote for him in the primary.
@@jeremylawrenceamadehilledw6515 LOL. You have to be kidding...
Make sure everyone is REGISTERED DEMOCRAT because they hold "Closed Elections". Both of my parents couldn't vote for Bernie in 2016 because they were registered "Independent".
The Primary is "Closed Election"...for the General you can vote for whoever you want. Primary, you have to be Registered Democrat to vote for the Democratic of your choice. Ita
@@oldsjunkie1 The "Rubber Room" awaits you. Where did your parents go wrong?
Harry Markopolos should be nominated or put up for a Nobel prize.
That dude seems like the sharpest guy I will ever meet. It’s like he knows the most perfectly spoken answer before the question is even asked.
Should change the law about the stature of limitations -ex 6 yrs
Agreed.
Markopolos just exudes experience, confidence and deep knowledge on the subject matter. He almost makes me go try accounting!
For real, he makes me wanna be a little like him lol
My former husband worked for GE for 30 years (1980 - 2010).. At that time, GE was known as "Generous Electric" for their massive benefits program. He was recruited out of the University of PA Astronomy/physics department's PhD program. So, he was with them long enough to see GE morph into Lockheed Martin(. He worked on projects and required Top Secret clearance. With all the cuts to benefits over the years, he had accumulated 3 weeks of vacation. His pension had been replaced by a 401k . He settled for early retirement , 2 years of medical coverage (for which he paid about $800/per month for both of us), and 1 year's salary. It may sound very good these days, but it was a far cry from the promises of 1980.
I love how they ask at the end what he is going to look into next. Really subtle lol
Larry CULP - Funny that "culp" is the root work of the latin "culpa", meaning guilt or fault.
WOW lol
Etymologically, his family is likely bread and born from corruption. They dont dole out surnames like "guilty" for nothing. Good catch btw
It seems a lot of the direct responsibly was pointed at previous ceo's. Larry just took over in the last year or so and possibly will have to answer for the years of fraud that were not disclosed earlier. However, he hasn't done anything to make things right so if found guilty then he will pay the price.
ALSO ,,,, Culp=able Culpable !
I'll bet GE isn't the only one, same thing kind happened with Enron.
Harry Vs 4 reporters. All answers to the point. This man know what he is speaking.
That was awesome. A very captivating watch. Loves every minute. Harry Markopolos is a very capable & results guy. Straight shooter. Loved the video & info.