Loading...

Laurence Kotlikoff- SIPC Running a Ponzi Scheme

38,118 views

Loading...

Loading...

Transcript

The interactive transcript could not be loaded.

Loading...

Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
Published on Sep 7, 2014

Economics professor Laurence Kotlikoff is sounding the alarm for massive and ongoing Wall Street fraud. When there is fraud, your brokerage insurance is nearly worthless. Dr. Kotlikoff says, “Every day, we are reading about a big bank being fined billions of dollars. Recently, Bank of America had a $16 billion fine the bank had to pay for selling fraudulent securities. They know they are selling you snake oil and they are getting away with it, and nobody is going to jail. I call Wall Street, at this point, Fraud Street, and one of the biggest rackets is the SIPC (Securities Investor Protection Corporation) brokerage account insurance--it’s not really insurance. A fraud occurs and Wall Street, through SIPC, says we owe you nothing, and they sue you to get paid back. That’s what we call an insurance scam. Wall Street, through SIPC, has been running a massive insurance scam. . . . In many ways, you could say SIPC is running its own Ponzi scheme.”

Join Greg Hunter as he goes One-on-One with economics professor Laurence Kotlikoff and creator of Kotlikoff.net.

Loading...

Advertisement
When autoplay is enabled, a suggested video will automatically play next.

Up next


to add this to Watch Later

Add to

Loading playlists...