RADIOMarch 13, 2023

Glenn explains: THIS is how Silicon Valley Bank COLLAPSED

Silicon Valley Bank was shut down by regulators last week, marking the biggest bank failure since the 2008 collapse. So what happened? And what does this mean for YOUR finances? In this clip, Glenn explains exactly how SVG collapsed, why the Fed is to blame, and why working with a FDIC insured institution is IMPERATIVE.

Transcript

Below is a rush transcript that may contain errors

GLENN: Here's what happened. A couple of things. First of all, we're raising rates.

We had the COVID money coming in, right? To have

And you just heard there, all this COVID money. Well, they wanted to invest it. They needed to put it in some place. And invest it.

Silicon Valley. They had so much money coming in from COVID.

And so what did they do?

They bought treasuries. And at the time, you could buy a ten-year treasury, and you would get 2 percent interest. Guaranteed, at the end of ten years.

That was pretty good back then.

But now, treasuries are selling for about 5 percent interest.

And you don't get that, until the end of the ten years.

So when I buy something, a ten-year treasury, you're buying it for ten years.

If you have only eight years on it, you can sell it, but you're going to probably have to sell it at a discount if the new ones are paying more. So they invested the -- the money in treasuries, at 2 percent.

Just let's remember that. What they had in the bank, if you will -- they owed $195 billion. That's to the people who have put their money into checking accounts and savings accounts, mutual funds. They owed $195 billion. They had 208 billion, on the books.

That's a 17 billion-dollar -- when you have people all over the world starting to say, I think the bank is starting to collapse. They start to take their money. $17 billion can go that fast.

There was a clog in the system, that couldn't get the money wired out fast enough.

So they decided, they needed to sell. And then they announced, we're going to sell some Treasuries.

Well, once they saw that they were selling ten-year bonds, at 2 percent interest, and the market was saying, well, that's only worth 75 cents on the dollar in you.

And Silicon Valley bank was like taking it. They knew, this is a fire sale.

This bank is in trouble. That's what started all of the run on the bank. Now, you probably have FDIC insurance.

If you have FDIC insurance, it's to stop runs on the bank. However, Silicon Valley bank is different. It's very different.

I think it's 88 percent of their accounts, are not covered by FDIC. Why?

Because they're giant companies that are using payroll and keeping their money in the bank, as -- as the place where they can run their company.

So they -- they have more than 250,000 dollars in account. If they also, use the bank for a mutual fund, they found out Friday, they were also screwed.

See, this bank, loans money to these companies. These tech companies.

And they loan them out, venture capital.

And so they loan them the money to operate, and to be able to do everything they can, over the next year.

Well, they've got to put that money somewhere.

So the bank loans it out.

It's basically the depositor's money.

They loan that savings account of yours, per se.

And loan it to this venture capital firm.

Or, or -- the tech startup. And the tech startup then says, where do I put all this money?

And Silicon Valley bank says, oh, just in my other hand. Just give me my money back, and we'll invest it in mutual funds for you. We'll invest it in very safe things like BlackRock. So they did. And the tech companies thought they were safe.

Because it's invested in very secure places like BlackRock.

Except, what the bank didn't say, except in fine print. Is that all the money that you had invested, in BlackRock, was not yours anymore.

It was -- it was under the name Silicon Valley bank.

So when people started to call and say, hey, BlackRock, my money is safe. They said, you don't have any money.

Your money is invested in Silicon Valley bank. And because their name is on it, they're counting that as an asset. And now that asset as has to go to pay creditors.

So they lost their money. This is a giant shell game.

We have created nothing, but a shell game.

And the fed is the one that is causing this collapse, by the raising of the rates. But if you don't raise the rates, what happens?

Inflation goes out of control!

Why?

Because we have printed and loaned too much money out.

Okay. We'll pull it back in.

Well, the way you pull it back in, is raising interest rates. If you raise the interest rates, bonds have to pay a higher yield, and so when you buy a bond, you get more money back. And if somebody gets into trouble, they have to sell their bonds, exactly like Silicon Valley. And they have to take a hair cut. And then the entire thing collapses.

But here's the scariest thing.

This is what the fed has set out to do.

They want to see risky things, go away.

They want to see failure.

They need to people who are not stable to go out of business. Stop spending money. So we can suck all that money back in. But when they do collapse it. And our economy is in this kind of shape. You then have a domino effect, because nobody is in great shape.

And thing banks are playing a giant game.

So then people can't pay the paycheck. And then that paycheck falls -- causes you to default on your auto loan. Or your house loan.

And that makes another bank fail.

We're at the place, I told you in 2008. We would be. We have made the 2008 problem much bigger, and there's no way out.

Once you start printing money, there's no way out.

And what did we do?

Well, the fed said, we're not doing TARP. No, no, no. We have something entirely different. It's got a different name and everything. But we're going to cover all of those accounts.

Oh. Oh, okay.

So we're backing -- we're backing that now.

Yeah. But it's not your money. It's not your money. It's the fed's money.

It's the fed's money? Yeah. It's the money that the banks gave to us, to put aside for insurance in case something like this happened. Oh.

Where -- where did the banks get that money? Well, I don't know. Doing business.

Well, I mean, aren't these the banks you bailed out?

Well, yeah. And weren't you just giving them trillions of dollars is if

Well, yeah. Of course, we did. But they were paying in to this account.

Oh, okay. So the money you printed, that I'm on the hook for, you think to the bank, but they didn't use any of that money for that insurance?

No!

No. This is totally different.

Okay.

So now they're going to be protected, and I don't have an answer for you. Today.

Because all of the answers are bad answers. Should we back that?

No. No.

The constitutionalist, capitalist in me, says that's really bad.

Okay. So we don't back it. Well, no. No.

Because the guy who would like to see the entire western world not burn down to the ground, would like you to bail it out, just to give us some more time.

But that puts us right back where we were.

So I don't have -- I prayed hard today. What do I tell people?

Work on your spiritual health.

Because this is coming. At some point. It's coming. It has to. It has to. Now, the Washington Post said today, that the baggage's death marks both a sobering and salutary moment here.

The central bank has sharply increased interest rates over the past year, hoping higher borrowing costs would slow the economy down, and take the steam out of high inflation.

This is what the fed wants to see. They want to see a tightening of the financial conditions.

Great! They're on it. The Washington Post. With $209 billion in assets, the bank was just 118th the size of JP Morgan Chase. The nation's largest. Still Wall Street Journal was rattled by their abrupt end.

Bank of America was down nearly 12 percent in the past five trading sessions. They're down another five or about four and a half percent today.

Some banks are down as much as 10 percent today, before trading even started. The banks that served the riskiest part of the country and the economy, are the ones in trouble. Now, this is the Washington Post. I want you to listen to this.

Banks like SVB and Silvergate Capital, a San Diego-based bank that catered to cryptocurrency users, are the ones that are getting into trouble.

Oh. It's not a run -- it's not a run on the business model of the bank, it's -- it's not -- I'm sorry. It's not a run on the business model of the banking industry, in general, it's just the business model of this bank. So, in other words, if you are making risky loans, to -- to tech, or if you're investing and doing anything at all with cryptocurrency.

You're the problem. Hmm. That's interesting.

I'm going to tie some of this together here. We have a lot to go over, in just a second.

Sadly, it probably comes as no surprise, that anyone after the overturning of Roe vs. Wade. Abortion is still the number one killer among infants. We're still killing nearly a million of our own children, every single year.

And that is still here, in the United States.

I asked you, by the way, if you had had an abortion. You knew somebody that did. And they regret it.

Or you're F you're a child. That somebody tried. Mom tried to end your life. And you lived. Or she changed your mind. Will you write me a letter, and tell me your story?

I have something coming. That I'm working on.

And I will keep your name out of it.

You can use an assumed name. We just need your phone number, so that we can call and verify that you're an actual person. But all the details are at GlennBeck.com.

But we are fighting the good fight. I don't think there is anything we could do that would be more important than standing up and stopping the slaughter of our children.

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Ten-second station ID.
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Okay. So here's something you probably didn't know: The New York Times is reporting today, that good thing this bank has been saved. Silicon Valley Bank was in many ways, a climate bank. When you have the majority of the market banking through one institution, there will be a lot of collateral damage. Community solar projects appeared to be especially hard hit. Silicon Valley banks said, it led or participated in 62 percent of financing deals for community solar projects. Their smaller scale solar projects also serve lower income residential areas. Don't worry. Don't worry. The fed is covering all of this.

The devastation comes at a critical moment.

It is central to cut the greenhouse gases that are dangerously heating the planet, says the New York Times.

The federal government depends on climate technically companies to develop the innovations needed.

This is going to set the climate change industry down and set them back, for years.

Hmm. Gee. Well, good thing we're not drilling for oil. Good thing we're getting rid of all of our backup power plants, isn't it?

Home Depot cofounder said, the global lending firm, Silicon Valley bank, went broke because it was woke.

Now, the rising interest rates are really -- really why. But if you want to look at their business model, these guys are woke activists. He said, instead of protecting the shareholders and their employees, they're more concerned about the social policies.

As recently as this month just days before it went into receivership with the FDIC, the Silicon Valley bank discussed decarbonization, gay rights, the black venture ecosystem. And so much more.

Well, they were woke. Good thing.

Good thing. By the way, they were purchased this morning. By a British bank. Because Great Britain was worried about their tech industry. As SVB, funded a lot of their stuff too.

So that's good news

EXCLUSIVE: Chip Roy Explains His FIERY Rejection of Spending Bill

According to the media, there’s a big fight going on between Republicans over the House’s new slimmed-down continuing resolution spending bill. Some, including President-elect Donald Trump, wanted the bill to pass. But others, like Texas Representative Chip Roy, argued that it still wasn’t ready. However, is the Republican “unity coalition” really crumbling, like the media claims? Rep. Chip Roy joins Glenn to explain what’s really going on. He argues that he IS trying to give Trump and DOGE a 100-day “runway” to fix the country. But he makes the case that, by increasing the debt ceiling by $5 trillion without agreeing on other cuts, this bill gives bad actors the ability to be an “obstacle” to Trump’s agenda further down the line. Plus, he reveals to Glenn that he believes some of these bad actors LEAKED false information about his stance to Mar-a-Lago.

Transcript

Below is a rush transcript that may contain errors

GLENN:

I think we have a great opportunity today. To show you how to have a -- tough conversation, with friends, friends. Where you deeply disagree on something.

But you know that their intent is good. They know my intent is good. Or our intent is good.

And we actually have the same end goal, but we disagree on the path. And we're going to walk away friends.

Chip Roy is joining us today. And, Chip, I love you. And I always will. And I agree with your, we've got to cut spending. We have to. But Liz Wheeler is with me. And we've been talking about it all morning. It's the -- the -- the -- the system of DOGE and Trump, the call-out to the world, in saying, you've got to surrender the Capitol. You know, the bad guys are in and about to take all the money.

Surround, and tell them, come out with your hands up. And that happened. And we scored a massive win, in an entirely new way.

Ask then you stood on principle, one we both agree with.

And it failed!

And so here's -- here's what Liz and I were talking about. Here's what we want to say to you.

And then get your response.

LIZ: Hi, Congressman Roy, this is the way I see it. I want your take on it. I love you. I think you're one of the best members of Congress. I disagree with you on the process that's happening. And I think that is the difference. The process. We elected Donald Trump to be a disruptor. Because Republican members of Congress for decades have been telling they're fiscal conservatives. They want to decrease the debt SEAL. It hasn't happened.

It hasn't -- it hasn't been done. And so Donald Trump comes in with Elon Musk, and uses this DOGE process to first identify these pieces of garbage in the first 1500-page bill. And take those things to the people. We took them to members of Congress. Congress said, okay. We'll listen to you.

So that new process was very effective.

And my question to you is: Once that process was proved to be effective. Which I think is exciting and wonderful.

How do we bridge this divide, with you, to say, okay.

Let's put some faith in this new process. And trust Elon Musk and Donald Trump and the Dow Jones process, to eventually address the debt ceiling, but get this done right now?

GLENN: And not blind trust. Chip.

CHIP: So appreciate you guys. Appreciate being on the show. Particular order. I have to go through a couple of things.

GLENN: Yep.

CHIP: Number one, it's important to remember that my job and my duty is to the Constitution, to God, and the people I represent. I told them, when I came to Washington, I would not -- I would not let the credit card and the debt ceiling and the borrowing of the United States without the spending restraints necessary to offset it.

GLENN: Okay.

CHIP: Right now, all we have are promises and ideas and notions. What I know, that neither of you respectfully no, and that none of your listeners respectfully no are the people that are in the room, that I was in with yesterday. And the day before, who are recalcitrant.

And do not want to do the spending cuts that we need to do.

That I believe the president and the DOGE guys. And everybody want to do.

My job, is to force that through the meat grinder. To demand that we do our damn job. Okay?

GLENN: Okay. So hang on. Okay. So wait. Wait. You're right. You're right. You're right. Go ahead.

CHIP: Number thee, when we were going through the bill, I'm glad the bill dropped from 1,550 pages to 116 pages. Three-quarters of Twitter or X or whatever you want to call it, have been out there spreading false facts that we supported a bad bill and didn't like the better bill.

That's not true. But let's be Lear. The 1400 pages that were cut out. It's a panacea.

There were some good stuff in there. There were some bad stuff in there. There was a lot of disinformation.

There wasn't a $70,000 pay raise. There was a 3,000-dollar pay raise.

I didn't support any pay raise. I didn't support a lot of the stuff in there.

But there's a lot of misinformation. And here's the thing: The 116 pages that were left, and I opposed violently the first bill. I was leading the charge on fighting and killing the first bill.

GLENN: And I love you.

LIZ: The second bill for 116 pages. Turned off -- turned off the pay go requirement. That we slash 1.7 trillion automatically.

And added a 5 trillion that are increase.

My view was, I could not support that, without a clear understanding of what cuts we would get, in mandatory spending next year. And undo any of the Inflation Reduction Act.

The undoing of the student loans. The undoing of the crap with the food stamps.

And everything else. I yield back.

GLENN: Okay. I yield back.

Chip, you're not in a hostile room. We love you. And we agree with your end goals. It's our end goal too. We didn't make that promise that you made to the people that voted for you. So we have more wiggle room here.

But you say -- I think our big difference is, you say, I know the guys in the room.

You're right. You do. And we -- we ceded that earlier today on the show.

You are -- one of us is wrong on trust.

I don't trust any of the weasels in Washington.

But I think Donald Trump and Elon Musk and Vivek Ramaswamy have earned enough trust, to get a grace period, here for the first -- maybe the first year.

Or at least six months.

To turn the economy around, and also reduce the size of the government.

And totally flip this thing.

And I know, as somebody who is -- you know, run a company, mainly into a ground. But run a company, and have to switch it, in the middle, and totally reshuffle. That -- that actually costs money, while you're doing it, to bridge the gap.

Because you have to fill up holes while you're filling in the gap.

You don't trust the people in the room. Neither do we.

But we do trust the system that worked on Wednesday with DOGE and Donald Trump.

Where do we disagree?

Can you give them --

CHIP: We don't disagree. And yesterday morning, I was making that precise argument in a room full of conservatives and then a follow-up room with people who will call it, less conservatives.

GLENN: Republican. Yes.

CHIP: And so we were making this argument. And then someone infamously. Something leaked out of the room, somehow out to Mar-a-Lago. That I was being resistant. Because I was negotiating trying to get the agreement to achieve the objective that you just said. I was trying to get, okay. In fact, yesterday morning, I made the argument to a group of conservatives. We need to give the president runway. We need to give him his first 100 days. We need to appreciate JD, and Vivek, and all the people -- and everybody involved. For the president to achieve the objective.

But to get there. We have to make sure that the guys in the room, that are an obstacle to that, don't have the ability to block it.

Because information flow matters. And when those guys tell the president, they can't achieve X.

Then the president will not achieve X. Our job was to force and demand, guys, we need actual understanding of what the cuts will be.

And because otherwise, we're asking us to accept a 5 trillion-dollar limit in our credit card increase. In exchange for nothing!

Literally, in exchange for nothing, but -- but hope.

So our job was to force that change.

Unfortunately, while I was trying to make the argument that we needed something in order to get the votes, someone leaked that down to Mar-a-Lago, and the president reacted.

But now I have to now manage that.

GLENN: Right. I know. I know.

CHIP: They're trying to enforce change in town.

GLENN: So hang on.

We have to leave this. Because I'm going to run against the clock.

I could talk to you all day about this. You were in a meeting this morning about J.D. Vance. Can you tell us anything about that meeting?

CHIP: That meeting happened, because despite what happened yesterday, I'm trying to get this done. Last night, talking to JD, we worked to get this meeting done. We had some good progress this morning.

But there still remains people concerned about spending. That we can work out, what agreement we can reach. On what spending cuts. We can actually get next year, in exchange for giving the vote on a debt ceiling increase.

So it remains fluid. Progress was made. But we have to keep working on it.

And I left that meeting to talk to you. Soil get an update in a minute.

GLENN: Thank you for that, by the way.

I hear there is a new bill that may be coming today.

Is that the one you're talking about?

Or is this another bill that could be another nightmare?

CHIP: Despite other people leaking crap, I refused. I can't say, because it's not been decided by the speaker.

And it's not right to talk about things they're talking about in private meetings.

GLENN: Yeah, but it's -- it's this speaker. I mean, is he really the speaker anymore, Chip, really?

CHIP: We need to hear what bill we need to get forward. And I can't talk about the private meetings. But, look, I'm going to keep fighting for what I promised people that I represent.

I'm going to fight to cut spending. I am going to represent article one.

I'm going to support the president's agenda, but we've got to do that together.

GLENN: Okay.

Chip, thank you.

I think we can -- I think we agree, but I await to see what that means to you. Because we may just have to agree to disagree on this.

But I love you. And I still want you to replace Cornyn.

CHIP: The short version is, for inflation's sake, we cannot increase the debt ceiling $5 trillion without knowing what we're getting for it.

And I don't think anybody should disagree with that.

GLENN: But you don't disagree that Elon Musk and Trump and Vivek are serious about gutting the system.

CHIP: I believe that is their objective. I believe there are obstacles to that objective. And I need to know the sincerity of how we deal with those obstacles, both structural, and human. And we have to figure that out. And that's my job.

America's Favorite Villain Is Ready for Nuclear Fallout. Are You? | Glenn TV | Ep 401

In this episode of Glenn TV — a theatrical how-to guide to survive the breakdown of society after a nuclear attack, according to the new movie “Homestead” from Angel Studios. Glenn Beck interviews the movie’s star and executive producer, Neal McDonough, who plays the head of a family trying to survive as society is breaking down in a postapocalyptic world. You’ve probably seen Neal in everything from the hit TV shows “Yellowstone,” “Suits,” and “Justified” to movies like “Captain America,” “Minority Report,” and the groundbreaking mini-series “Band of Brothers.” Glenn asks Neal what it’s like to play a villain so often, how TV and movies are changing, and how he survived Hollywood as a devoted Christian and husband who refuses to do onscreen kissing scenes with any of his female co-stars. They also discuss his battle with alcoholism, what it’s like working the legends like Sylvester Stallone and Kevin Costner, and the cultural craving for Western cinema. Note: Angel Studios is a sponsor of “The Glenn Beck Program.” Get your tickets for “Homestead” at https://Angel.com/Beck.

Biden FLOODED the Government With DEI, But Trump Has ONE Way to Win

With just weeks left in office, President Biden (or whoever’s actually calling the shots) has decided to hire 1,200 DEI officials. Is this part of a plot to undermine Donald Trump’s plans and make it harder for him to rid the government of woke Deep State bureaucrats? Glenn and fellow BlazeTV host ‪@lizwheeler‬ discuss how other Democrats have recently proposed things like this, including a UK-style “shadow cabinet” that would oppose Trump. Liz also gives her advice to Trump on how to deal with these new DEI officials, who will be paid hundreds of thousands of taxpayer dollars to focus on things like “health equity” …

Transcript

Below is a rush transcript that may contain errors

GLENN: Okay. Where were we, Liz?

LIZ: The Biden administration. Although, not Biden. Because he can't tell the difference between a nickel and a dime, trying to sabotage the Trump administration.

GLENN: Yeah. So the latest on this is now Biden is hiring 1200. Biden is not doing it.

But he's hiring 1200 DEI officials, and putting them just under the appointed official. So there will be 1200.

Some of these people make almost $400,000 a year. $400,000 a year! That's your tax dollar!

Will you -- in your -- in your life, your average person, I don't know if you'll ever even -- if you'll ever even pay $400,000 in taxes?

So you could be working your whole life, for that one hire.

And he's hired 1200 of them.

And all he's trying to do is make sure the DEI positions just can't get cut.

I've got news for you.

Donald Trump is going to cut those positions.

He's going to. And it's going to get ugly.

I mean, the ACLU was all over this, saying, oh, we've got plans. We're going to -- we're going to -- this is obscene.

This is absolutely obscene. What the Democrats are trying to do. By thwarting the president.

And honestly, thwarting the will of the American people. Remember the speech that was given by I don't know, some boob from -- well, one of the Carolinas.

I don't want to besmirch the other one for electing a boob. But he was -- he was giving a speech in the well of the Senate. And he said, we need a shadow government. What?

Hold it. You mean a Deep State. Because we already have one of those. And he said. This is a quote.

One of the most obscene things I've ever heard from an elected representative. We failed to make our case. That our policies are better.

Now, in my world, growing up in America, the next sentence is: We need to sit down and talk and find out why we're out of step, with the American people.

His was, but we know we're right. So we need a shadow government, to make sure we put our policies in, anyway.

There's nothing more un-American than that.

By the way, Ted Cruz also said, he thinks there's criminal charges that could be lodged against Biden and his administration for the selling of the steel and the walls for the border.

I think so too. I think so too. He'll probably end up blanketing or pardoning everybody that has either lived by a Biden. Or a Democrat.

Worked for the administration. Everybody will get a pardon at the end.

Honestly, it's like, hey. Everybody, Oprah is here.

Look under your seats.

Because you've got a pardon. You've got a pardon. And you've got a pardon.

Ugh!

Now...

PAT: The Department of Health and Human Services on November 15th. This is posted immediately after President Trump has been reelected.

They advertised for the following position. A deputy assistant secretary for Minority Health. With a salary of up to 221 thousand dollars. This is the goal of this position.

Or this is the purpose of this position.

To, quote, promote health equity.

To promote health equity.

What does that mean?

It means racial criminalization in health care.

It means, if you are seeking, I don't know.

Think about during the pandemic. When there was limited resources. Limited beds in the emergency room.

Limited amounts of drugs and therapeutics, that people could access, in order to treat COVID when it's at its worse.

Well, now you will be screened based on the color of your skin.

That's what health equity is. Health equity is a word used to disguise the reality, that it's just -- it's socialism.

It's discrimination.

It requires, a government official to look at you, and make a decision about whether or not you are going to have access to health care that you might need, based on what you look like.

Not based on the severity of your illness. Not based on your ability to pay. Not based on your request for care. But based on the color of your skin. That's not only wrong and immoral and completely absurd, that a bureaucratic in that position would make over $221,000. That's evil. The left likes to pretend, that you're a racist. Or I'm a racist. Just for voting for Donald Trump. This is evil racism. This is the kind of stuff that we eradicated from our country.

And Biden is trying to plant the Trump administration. With these evil little minions before he leaves.

GLENN: I mean, why are we -- why are we surprised?

How many anti-slavery amendments do we have, to the Constitution.

I mean, it's amazing to me. With very few exception, after ten, most of these seem to be like, oh.

Yeah. Okay.

You're so stupid, you don't understand.

Slaves need to be free. Okay.

Then the next amendment is like, okay. All right.

Let me limp up to explain this once more.

That means, they're Americans, and can vote!

How many amendments are -- are just one after another, especially on slavery.

And, by the way, who was it that didn't understand that slaves should be freed? The Democratic Party.

It -- I swear to you, these amendments are just, God, we didn't think you would be this stupid.

It's already covered!

But let's lay it out clearly, for you.

You cannot discriminate by color! By race! By religion.

We thought that had already been covered, but apparently, not.

LIZ: What I would do if I were the Trump transition team. This is obviously a deliberate effort by the Biden administration. Because within the first ten days after the election, 33 of these jobs were posted on government websites.

So this was -- they were like, okay. Trump is coming in. Let's start ceding the deep state with these races. What I would do if I were Trump transition is I would say, we take racial equality, very seriously. We take civil rights very seriously.

In the administration, of the 47th president of the United States, and anybody who engages, especially a government official who engages in racial discrimination will be prosecuted. And prevent these people from even accepting these jobs. Because they will be threatened with legal action if they do.

GLENN: You can make a legal case. A solid, legal case, that that is exactly right. And that's what should be done.

They would be doing that to us, if we were -- if we were discriminating on race. If we were like, you know what, we're only going to hire white people.

We would go to jail.

Oh, you know what. We're just going to shuffle the deck here.

We're going to look at everybody.

But we lean towards white people.

Did you have Wheaties for breakfast?

If you had Wheaties as a childhood, you're in a different category. Okay?

I mean, we would go to jail. We would be shut down.

It's the same thing.

But don't expect the Democrats to get it.

Did you see the new -- or the DNC chair front runner?

The one they're thinking should be the head of the DNC?

He said, the problem with the election is, the convention should have featured pro-Hamas activists.

LIZ: I totally agree. That absolutely should have --
GLENN: At least they would have been honest.
LIZ: Think about how many Democrat voters, and really prominent people too.

I'm talking about Joe Rogan. I'm talking about Elon Musk. I'm talking about RFK Jr. These were fairly hard-core Democrats, who not only converted to being like, okay. We'll tolerate a Republican. Because it's not Joe Biden.

It's not Kamala Harris.

These people are the biggest supporters of President Trump right now, because of that kind of garbage. So DNC, if you are going to be radical, please be honest and tell us.

Thank you. It's just ushering new Republican voters right into our arms.

GLENN: I respect you, more than I respect people like Mike Johnson.

Mike Johnson doesn't tell me what -- he doesn't tell me what he really is.

What he really believes.

He tells me what I want to hear. I don't believe it. Then he's elected. Then he gets in.

And then he rapes you.

You know, I have much more respect for -- for people who are like, yeah. I'm pro-Hamas.

And you should elect me.

Well, I don't think I'm going to do it.

But thank you for telling me who you really are.

LIZ: Yeah. Great. Let's take all of the Democrat members of Congress. And let's Jamaal Bowman them, let's Cori Bush them.

Because as soon as they were honest about being pro-Hamas, voters were like, actually, we're good.

GLENN: Yep. Yep.

By the way, Hochul has come out. And she has now tried to stir up support to end the electoral college.

Because no offense, Wyoming, according to her words, New York voted for Kamala Harris.

You know, it is so dishonest. And this would -- this would have no space, if -- if we were actually teaching you students, what the electoral college is for.

You want to talk about fairness. Here's fairness: Should New York City dictate what all of New York does?

No!

They have representation. Of all the small towns.

All the farming towns.

Everything else.

New York City, should not be the one that tells everyone else, exactly how to live!

I think there should be electoral colleges in states now.

Because the cities are just devouring, all of the communities outside of those mega cities.

The electoral college is to make sure, that New York, California, and let me say, Texas, doesn't run over all of the other states!

And force how they're living in those cities, and those big states. In Wyoming!

Or Idaho!

Or Alabama!

Yeah. I don't have to live like you do in New York City.

I don't want to live like you do in New York City.

And we have completely different values than you do.

We should have a say, and an even, equal seat at the table.

That's why we have the electoral college. And we have the popular vote.

So you can see. And it's usually pretty close.

This time, however, Hochul, you lost the popular vote!

So you don't really have a case here, on the electoral college.

But you don't have a case.

If you're an American, you don't have a case on the electoral college anyway.

LIZ: Wait a second. Have we war gamed the scenario that you just proposed.

If there was an electoral college on the state level in California or on the state level in New York, what would the -- have we actually looked at a map here. If anybody has done this. Tag me on social media.

Because I am fascinated by this idea. I've not thought of this before. But I -- would we actually swing those states Republicans, if there was a state level?

STU: I bet we would. I bet we would.

You know, every time. Look at Wyoming.

Jackson Hole now controls Wyoming. Just controls it.

Who is -- who is so close to controlling Texas?

All the big cities.

You know, you don't have a chance. When these cities grow so large, they tip everything.

That's why we have an electoral college.

And it didn't used to be this way.

But our cities are becoming mega cities.

Almost states in and among themselves.

You -- you have to balance. Otherwise, the farmer and everybody else, that makes your life possible, in a city, gets screwed.

GLENN: And also think about cheating for a second. If you have a popular vote across the whole country, versus an electoral college system, it's a lot easier to impact the outcome of the entire presidential election because you can have one county somewhere with corrupt election officials.

And if they cheat by 10,000 votes, that could change the outcome of the election.

But if you're an electoral college, it doesn't necessarily.