“We Have a Subprime Pension Crisis About To Hit Us” - Siedle and Kiyosaki on Latest Book on LIVE
Thursday, January 09, 2020
Former SEC lawyer and top whistleblower Edward Siedle and investor, entrepreneur, and financial education advocate Robert Kiyosaki joined GoLocal LIVE from Wall Street to talk about the launch of their upcoming book, “Who Stole My Pension? How You Can Stop The Looting.”
“It’s bipartisan — everybody knows Wall Street is screwing Americans,” said Siedle. “One of the great things about the book, is it is global — we talk about Japan, Australia, UK, France, Croatia even.”
“This is happening all over the globe. The foreign countries, the foreign pensions are just beginning to start buying the toxic garbage that Gina [Raimondo] loaded up in your state pension fund — hedge funds, private equity funds, all this crap is being bought up by foreign pensions — and it’s all made in America,” said Siedle.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTKiyosaki spoke to his own life experience in writing the book, “Rich Dad, Poor Dad” and how he wants to empower people — and why he believes the looming pension crisis will overshadow the subprime mortgage disaster.
“For the people who have a pension, in the words of Mark Twain, if you have all your eggs in one basket, you need to watch that basket. For people who have a pension, that is typically where their eggs are,” said Siedle. “So the things we talk about in the book, is the things they can look for in their pension.”
“So there are chapters about your pension is lying about the fees — which we know in Rhode Island, when I arrived on the scene, the pension said they were paying ten million in fees. Within six months I forced them to disclose they were actually paying $80 million,” he said.
“There’s never been a pension that I’ve investigated — and I’ve investigated over a trillion pensions — there’s never been one that says ‘our performance sucks.’ There are sections about your pensions is lying about the risks it takes, your pension is becoming less transparent — there are pretty much universal truths,” said Siedle. “Pensions all over the world are being plagued with these issues and the book tells people what to look out for.”
The book is available starting on January 14 on Amazon.
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