Even till today, shippers call broker . Broker call trucker and ask for the trucker's location, then communicate back to the shipper.Tons of back and forth negotiations and the communication.
news is it's almost over now we've also interviewed a broker that had an open line to his office that day and that broker tracked all the purchases in his in a ledger and calculated the returntwo years later and Uncle John had made 200% on those Investments that day now
And he went on to say, when he was looking for a job in New York City, he found that the only insurance broker in New York that he could find that gave benefits to domestic partners was the Willis Group.And I want to thank Joe Plumeri for changing that benefit.
OK? All right. So I'll start with the rags to riches story, as it pertains to what I wound up doing for my life work, which was being a real estate broker here in New York City.And I really had very, very good luck as a child.
But it's about sort of what it is like to be a work and have a boss and have to balance that with other things and I don't know that I could get that if I were not working. broker that time and they will basically zap out your consciousness.
In the 1950s, long before the government enacted laws to protect employees and prohibit workplace discrimination, my father, a food broker in New England, founded the Massachusetts Commission on Fair Employment Practices. It's name made it sound like a bona fide governmentagency but it wasn't.
tomorrow will move that cash into the next SNL that's a broker deposit so Charles keing could just ramp up on broker deposits by paying 8% fund his development deal pay himself a fee youknow and not just King there were others and what ended up happening is the whole pyramid scheme collapsed and it cost
In that period, it was impossible to imagine that two generations, three generations on, there would be no power brokers in quite the same way.Like today, there is no Robert Moses figure quite in the same way that there was back in the 1930s, '40s, '50s, and '60s.
So imagine taking financial literacy to South Central or to Compton, taking high-net-worth individuals, brokers , clients, and showing them-- because they had a desire to give-- but showing them communities that really needed their help, introducing them to studentsthat they could actually mentor.
Sometimes drivers may lie. Brokers may lie. Right?So there's really no transparency in it.
And even the big asset allocators-- brokers who have their clients in programs where they'll have more options, precious metals and so on, 2008 killed it.And we'll get into that as well.
stuff that comes with full-time employment those independent people became mortgage brokers so with Angelo we saw the beginning of the network that that we built here in the modern era where youyou the customer you go to the mortgage broker the mortgage broker brings that loan to the the banker like like Angelo
or any of the other early players in the subprime space Roland arnal first used mortgage brokers just like Angelo so mortgage brokers would bring him the subprime loans eventually he sold his company offby taking it public and then that company was bought in 1999 9 by Washington Mutual so Washington Mutual
They're the one lending you directly. A broker is the one shopping the loan for you. So what does that mean?
And fortunately, a couple of those individuals decided that they would truncate their current employment and break out on their own and sort of freelance, if you will, or broker in the business. And those early on people, like Mr. Song, today is my partner in China.
So that was the core ingredient of that story. A broker came to them.
The term is erroneous, however. The broker or agent doesn't produce the commissions. It is his clients who produce them.
you can do that. A broker is the one shopping the loan for you.
His broker went bankrupt when the people who had lent against those warehouse receipts came looking for some deep pockets, they found American Express.
model you would get 1% for a loan so if you made a $500,000 loan you would pay the broker a 5% if it was an internal the internal guy might make a similar Commission in the uh subprime world the commission might be two three or
He brokers a reunion.
the brokerage industry. But long story short, I come from this really strange place on the east coast called Long Island.
and we try and preserve them-- when you get into the larger tea market, the export market that's more controlled by larger companies and brokerage and things of that sort, you need to take various lots and blend them and create what's called a standard. Until China became a free market economically, everything in the tea business was run by a standard.
and brokers are smuggling in and that are being traded, and are being viewed and shared across the country.
or brokered , or made the transaction between my mom and the Chinese man.
Or brokered . Have somebody who really does know how to encourage the discussion, and can tell when it may be getting-- So talk about what
stock brokerage, investment banking--and they came through the crisis brilliantly. It was just there was more sense there of that idea of keeping debt from getting out of hand.
the brokerage places. And whenever I chat with them, they're, "Yeah.
off um basically he looked at it this way mortgage brokers were this new thing in this country relatively new I mean they always existed in small numbers but a Angelo thought if people are being laid off by Savings and Loans they have all
L didn't agree with that he was concerned about quality you know if the mortgage brokers are third parties are we really sure that they're bringing us a well underwritten loan we don't even know who their customer is really and some might be Crooks
This so-called data broker loophole could be closed every time Congress reauthorizes FISA. The amendment to
the data broker loophole, and look at the state and local level as well. So, your government and law and fish law
Maybe your credit is not that great. So the broker gathers all your information and shops it out to different banks. Believe it or not, you are paying that broker for that service.
I'm the best broker ever, but now I'm the worst one because I'm involved in some money laundering scam between some crazy person
My senior broker had five Porsches, one for each day of the week.
And we told our broker , just look everywhere.
And the broker that he calls, calls him back and says, yeah, it's an eccentric order, but fine.
And he was the broker for our real estate company at the time.
and I know what I know. I am the broker and owner of Real Estate Ocona in New York City. My office is downtown Manhattan in Cadman Plaza.
My office is downtown Manhattan in Cadman Plaza. I've been a broker for over 16 years. I am also licensed in New Jersey, Georgia, and Pennsylvania.
you can do that. Or are you a broker ?
you can do that. So the broker gathers all your information and shops it out to different banks.
So I found a broker in Richmond, Virginia, where I was.
He became a broker .
And he told the broker that he could only look on weekends, because he didn't want anyone to ever say that he didn't work 110%.
was a commodities broker and trader.
through a broker , through a website, through their neighbor, or the government directly, to get the care they deserve.
from a pawn broker .
problem in addition the government allowed the snls to have more broker deposits and I don't know how many people here know what a broker deposit is but in a in a nutshell there are Brokers out there who shop around every day looking for the highest yield for their investors so say this SNL is paying 5%
of mortgage brokers in this country and helped to build up the the the modern network of broker Banker Wall Street firm here's a much harder quiz how many people here know Roland arnal raise your hand if you've ever heard of Roland