On Monday’s Mark Levin Show, the Democrat party agenda is a disaster for capitalism and capitalists. There is no industry more heavily regulated in America than the banking industry, and if an administration forces banks to give out loans to people who cannot repay them or to comply with subsidizing government programs, they will collapse like Silicon Valley Bank. Just like in 2008, we have a Democrat administration and a Democrat Congress with no financial responsibility, blaming everything on President Trump yet again. We are seeing the consequences of 24 months of Democrat rule over this country – this is a manmade economic disaster, and it is not over. Also, President Biden knows if he can flip Texas blue, it’s all over for Republicans because they will have no path to the White House. It won’t matter how red Florida or Pennsylvania becomes. California has flipped blue through illegal immigration, and that’s what Biden is doing now with a wide-open southern border, and he doesn’t care how much crime and drugs come into America as a result. Later, Mark speaks with Fox News host Sean Hannity about the banking collapse and Biden’s bailout.
Clinton’s Legacy: The Financial and Housing Meltdown (2012)
Inspectors General Estimate $276 Billion of Fraud, Waste in Pandemic Relief Funds: ‘Biggest Fraud in a Generation’
Silicon Valley Bank Collapse Threatens Climate Start-Ups
Biden indefinitely blocks millions of acres of land, water from future oil drilling
Senate Democrats Reintroduce Radical Women’s Health Protection Act
John Kennedy Has an Excellent Idea for What to Do With Joe Biden’s Gut-Busting Budget
Washington Free Beacon
‘Dogs—t’: Federal Judge Decries Disruption of His Remarks by Stanford Law Students and Calls for Termination of the Stanford Dean Who Joined the Mob
Photo by Nikolas Liepins/Anadolu Agency
The podcast for this show can be streamed or downloaded from the Audio Rewind page.
Rough transcript of Hour 1
Hour 1 Segment 1
Well, we’ll find a few chief executives at these banks that have collapsed and we’ll use them as media pinatas at the direction of Biden and the Democrats, at the direction of the radical leftists. See these two banks, one in particular, one in particular was doing the bidding of the Democrat Party and embraced its political agenda, as I will explain in a moment. And the Democratic Party’s political agenda is a disaster for capitalism and capitalists for you. And you can see the impact it has had across the board in one industry after another. You’re pushing climate change, you’re destroying industries in the path. And that is a significant problem that we have right now. And, of course, Biden takes responsibility for nothing. He’s creating economic dislocation. He’s creating impoverishment and the spending goes on and on and on. He now has a $6.8 trillion budget proposal. If you’ve been with me over the last many years, we’ve walked through this step by step. I told you inflation would lead to stagflation, and stagflation could lead to a depression. What are banks? Do they deal in money? That’s all they do. They make determinations, but they deal in money, interest rates, who to give loans to, who not to give loans to. There is no industry more heavily regulated than the banking industry. None. It’s the most heavily regulated industry in America, and that’s saying something since so many of them are heavily regulated. But it is the most heavily regulated industry. And so if an administration decides that banks or financial institutions of any kind should be giving more and more loans to people who can’t afford them, who are unlikely to pay them back or are going to struggle to do so. All these financial institutions, including banks, have to comply. George, the administration decides that these banks are going to be subsidized and in return of receiving your tax dollars to subsidize them, they are to subsidize their political agenda like solar power and wind energy and all the rest of it. Then the banks need to comply. It’s the same with ESG. ESG. Joe Biden wants companies across the board. He wants companies across the board. To use the radical left agenda in making determinations on where to put your pension monies. And your other investment moneys. As opposed to the most sound financial decisions they can make in order to safeguard your money and give you a good return on your money. Do you remember the financial and the housing meltdown? You remember that? Remember that that took place. That was Bill Clinton. That was Cuomo who was secretary of HUD. And it was the consequence, as they pointed out, and Reason magazine But we talked about it at length at the time of a combination of easy money and low interest rates engineered by the Federal Reserve, the easy housing engineered by a variety of government agencies and policies pushed by Barney Frank. Pushed by Chris Dodd, pushed. Then included HUD. It included Fannie Mae and Freddie Mac. The Community Reinvestment Act passed in the 1970s under Carter, then expanded in, quote unquote, fortified. By Clinton. And it required banks, as they point out, to make loans to people with poor, non-existent credit histories. Remember, all this must reduce. The goal was widespread. Homeownership. That was the national goal. So as Sheldon Richman points out, a reason. 11 years ago, these banks were required to make these loans. To these folks. This all led to a home buying frenzy, an explosion of subprime and other non-prime mortgages with banks. That GSK’s bundled in dubious security government sponsored enterprises and peddled to investors worldwide. And hovering in the background was the knowledge that the federal government would bail out troubled, too big to fail financial corporations, including Fannie and Freddie. And this led to TARP. You’ll recall a massive bailout. By the taxpayers of all these financial institutions. Now, what did it take here? When the Fed began to raise interest rates. The bottom fell out. You had easy money. You had low interest rates. The bottom fell out. Now, what do we have here? Again, a Democrat administration. With a Democrat Congress prior to a few months ago. Massive fiscal irresponsibility, massive trillions of dollars in debt. Throwing money around like confetti. Like confetti. We have a situation. Where? The inspector. Generals. The inspectors general of the United States estimate $276 billion of fraud, waste. In pandemic relief funds alone. Biggest fraud in a generation, as Breitbart reports. Biggest fraud in a generation. So much money being spent, so much money being printed, so much money being thrown around by the Democrats mostly, but also Republicans Mitch McConnell and the boys. And now you have to raise interest rates to get inflation under control. And banks are caught short. Because banks have been giving out loans and mortgages. At 5%, 4%, 3%, and now they’re having to pay more for the money. More for the money. On their books. Then they’re getting in return. That’s simple. And the Fed will continue to raise interest rates to try and. Control this inflation to create a recession to prevent a depression. And yet doing so may well. Create more. Fatal problems for more banks. The regional banks are the canaries in the cave. Because they’re much smaller. Now, Joe Biden today blame this on Donald Trump. Surprised he didn’t blame it on Putin. He blamed it on. Donald Trump is a liar. Joe Biden. And he continues to promote more massive spending and more massive. Yearly deficits. More massive interest on the debt. Redistribution of wealth. Massive tax increases on corporations, banks and corporations. And this is what happens. When you punish the private sector, when he’s collapsing, the private sector. He’s doing the same to the energy industry. He’s doing the same to every industry, but his billionaire friends. Or a heavily leveraged and subsidized to invest in, quote unquote, climate change industries and projects. The money’s pouring in so fast. So these billionaires, these Democrat billionaires. They couldn’t be happier because they’re not capitalists, They’re not entrepreneurs. They’re pigs. They’re parasites of you, the taxpayer. And this is what the Democrat Party does. And then they conceal it with their propaganda and their lies there for the little guy. They’re for the little guy. Now stick with me. This is a very important issue that may have a huge effect on your individual lives. I’ve been talking about this for a long time. It’s just a matter of time. I even talked about it last week, A couple of weeks ago. I kept pointing out how people say, well, we keep talking about the problems we’re going to have, but they never show up. But now they are showing up. And by the way, I’ll be on HANNITY tonight at 9:25 p.m. on Fox. I’ll be right back.
Hour 1 Segment 2
There’s an article that’s been making the rounds all day, and it’s good article, and I get it in The New York Times. Silicon Valley Bank Collapse Threatens Climate Startups. And this underscores what I’m talking about. And people are losing sight of the fact that Joe Biden has created this situation, as have the Democrats, with their absolutely outrageous and unconscionable profligate spending and borrowing and debt creation. And their agenda. They are subsidizing poverty. Is the fallout of the collapse of Silicon Valley Bank, continued, writes The New York Times. To spread over the weekend became clear that some of the worst casualties were companies developing solutions for the climate crisis. Listen to their language, by the way. The climate crisis. So it’s a fact. The bank, the largest to fail since 2008. Now, you’ve heard about largest inflation jump since one. I read that we’re now getting into bad record territory, worked with more than 1550 technical. Firms that are creating solar, hydrogen and battery storage projects. According to its website, the bank issued them billions in loans. So it was a good Democrat bank. On Valley Bank was in many ways a climate bank, said Karen Maharajah, chief executive of Arcadia, the largest community solar manager in the country. When you have the majority, the market banking through one institution, there’s going to be a lot of collateral damage. And the Biden administration didn’t know this, and it’s Trump’s fault. Q Many solar projects have proved to be especially hard hit. Silicon Valley Bank said that it led or participated in 62% of financing deals to community solar projects, which are smaller scale solar projects that often serve lower income residential areas. Isn’t that what they want, the Democrats? So this bank was serving smaller scale solar projects for lower income residential areas. I mean, it seems to be intersecting with the meltdown. With Clinton’s legacy, remember? The devastation comes at a critical moment for a nascent industry that is central to the effort to cut the greenhouse gases dangerously heating the planet. There they go again. The federal government depends on climate tech companies to develop the innovations needed, as promised, billions, billions in tax breaks to help them grow and mature. If the flywheel of financing for early stage climate innovation stops during these critical years, that’s going to be a big problem, said Daniel Berger, founder of the Great Circle Capital Advisors, which consults on sustainable finance issues. Doesn’t look so sustainable. You know, they say when you mess with Mother Nature, she hits back hard. Well, when you mess with Mother Economics, he hits back hard. The collapse of Silicon Valley Bank threatens to derail what was a fast and growing part of the venture capital sector. More than $28 billion was invested in climate technology startups last year, up sharply from the year before. Climate Tech’s one of the few bright spots in an overall tech downturn, said somebody who’s a managing partner of something. Well, of course, because all of your tax dollars. Are being poured into these these companies. I can only imagine all the fraud and waste that’s going on and people becoming filthy rich Democrats. In the short term, there are companies that are at risk of not making payroll. They said they are scrambling to provide the liquidity to these companies in the next few days. Peter Reinhart, the chief executive of Charm Industry, a five year old carbon removal company, said he pulled a few millions in deposits from the bank last week. Others were less fortunate. For many companies, it is this uncertainty about the ability to make substantial investments in the next few months. That is the greatest concern. You know, the agenda must go on. The ideology of the hard left is funded by you, the capitalists. These damn bastards don’t know what the hell they’re doing. It’s still taxpayer money. Wash it through their banks. Do the Democrat Party’s bidding into these companies that cannot stand on their own two feet while they destroy our energy grid, while they destroy energy availability, where they drive up energy prices and destroy energy independence. That’s the Democrat Party and Joe Biden.
Hour 1 Segment 3
You know this fool in the White House blames Trump and everybody else. We had a border border that was secured it’s ever had been, and he destroyed it. We had inflation is low is has ever been and he destroyed it. We were energy independent and he destroyed it. And you can go down an entire list. An entire list of things that affect your lives that this man and his party, the Democrat Party, have destroyed because they don’t believe in America, they don’t believe in capitalism. They don’t believe in individualism and family and faith. They believe in centralized big government and they use whatever authorities that they can grab, that they can seize to power themselves. Nationalizing massive amounts of land. And then saying you can’t use it for drilling. The state of Alaska. They’ve nationalized so much of Alaska. It’s barely a state. It’s an appendage of Washington, D.C.. Same with Wyoming. Same with Nevada. Same with Montana. It’s amazing. By the way, footnote my beautiful wife Julie is running the Jerusalem marathon in a couple of days. I had to stay back because of my responsibilities here. And we have two brand new dogs. But this was set up a long time ago and I was going to go, but I can’t, obviously. And just to show you how technology works, it’s amazing. So she’s listening to me in Jerusalem as I’m speaking here, an amazing Mr. Producer. He really is cool. And these two dogs that we rescued are magnificent. They’re already best friends. Even the ones tiny ones. Much bigger. Not big, but bigger. And I have built effectively a Fort Knox in the kitchen with chairs with dog gates, big dog gates and boxes and everything else. And I have to keep making a wider and wider because Ronnie, the bigger guy, keeps figuring out how to break out. I don’t know how the hell he does it. And then the little one trots right behind them and they’re not completely house trained, so I am exhausted. My buddy Mike is helping out. I doing some of the walking? I do the rest of it, but I really. I don’t know how they’re doing it. But so the House training is going to take a little while. So I built this fort and they just keep escaping. I don’t know. I’ve got to figure this out. Somehow. I thought I did, but they’re outsmarting us since the most damn thing I’ve ever seen. All right. Back to ugly and stupid, a.k.a. Biden. Here he is at the White House today. Cut one. Go today. Thanks to the quick action by the situation over the past few days, Americans can have confidence that the banking system is safe. What in the world does that mean? You know what he did. The FDIC has a cap of $250,000 for any single depositor. After that, you’re on your own. You know what he did? He wave the cap. Now who’s on the hook for this? He’s going to tell you. You are not folks here on the hook for everything. You’re on the hook for the student loans. You’re on the hook for the well, for welfare. You’re on the hook for illegal aliens. And you’re on the hook for this. You’re on the hook for all of it. And you have no say about any of it. Have you noticed? Here I go. Yo, have you ever wondered you’ve heard the phrase Marxist Leninism? If you heard that phrase, Mister Producer. People never really dig in a What is Leninism? Stick with me, folks. I know what I’m doing. What is Leninism? How is it different from Marxism? Why? Without spending the entire show on this? Although I love doing that sort of thing. Because it’s important. Marks. Trotsky was close to Marx. Actually, you know, the proletariat will rise up. That is the working people overthrow the government could be violent, likely violent period of time will be despotism. And then eventually the the government withers away because everybody, you know, it’s a communal war. Everybody’s pulling their own weight. You know, that’s thumbnail sketch. Trust me. But that said Lennon. Said no. You see, the Russian Revolution wasn’t. A bunch of Cossacks and and farmers rising up. Lenin was sort of a philosopher, but he was also revolutionary, obviously. And he said, no, what’s going to be required here is an iron fist, one party rule. That imposes this sort of utopian, I’ll call it equity on a society. And if people don’t adhere to it, they’re undermining it and therefore they must be disposed of in one form or another. And so the Communist Party. And then, of course, Lenin gets sick and he dies. Trotsky takes off because Stalin wants to kill him, eventually does. In 1940, I winds up being hung on a meat hook. Nice guys. But anyway, so Stalin takes Leninism and sort of molds it to Stalinism. But the brutality Zarqawi has it, it explains in justifies every mass genocide, anything they do for the good of the people. Now, obviously we’re not facing that. But the broader understanding of Leninism, as opposed to, say, pure Marxism or pure American Marxism is the centralized iron fist. Maoism is very similar to Leninism. The central party, the central power. And these decisions have to be centralized in order to impose them. And Lenin believed that the people will not come to economic socialism on their own. There are too dug in. On their own property rights and so forth. So you have to legislate it. It’s not going to come naturally. So the party must impose, it must legislate. It must legislate economic socialism and must legislate. Excuse me and must use a police state to enforce. So here in the United States, we have the constant effort to centralize by the Democratic. This growing. Police state, if you will, monitoring you. Interfering with free speech, constantly attacking the Bill of Rights if you don’t agree with them. If you’re in the wrong party, if the wrong viewpoint, whether it is pro-life parents rights or you just disagree with a voucher, whatever, you get the Scarlet letter, almost like these social credit stuff in communist China. But this has kind of been adapted to the United States system. Not as aggressive, obviously, but one degree or another. Where Biden says his administration has taken care of the banking system. No, it hasn’t. Or more. Bernie Sanders. We need to nationalize our health care system. For the people, of course. And when they do these things, the people have no say. You have no say. And if you disagree and you’re outspoken, you’re going to be punished in one form or another. And that’s what’s going on. That’s what Wokeism means. Wokeism is a very passive word or term for something that’s very vicious and diabolical. Vicious and diabolical. It’s a war on free speech. It’s a war on competition of ideas. It’s a war on liberty. Liberty. It’s a war on thought. It’s a war on communication. Because any central. Autocracy requires conformity. That’s the whole reason It’s centralized and it’s an autocracy. Conformity. And you can see this more and more and more with Biden. What Biden is doing. As he continues to centralize power through executive orders. Through this idea of climate change. When I look at the border situation, you know, you’re not allowed to say, oh, it’s replacement LRA, it must be replacement theory. When in fact, Chuck Schumer basically called it just that. I think it’s much more specific. And that’s why the Democrats in the media don’t talk about it. Biden knows. I’m getting to the point that if you can flip Texas and make it blue, it’s over. There is simply no avenue for the Republicans to ever win the White House. All you have to do is flip Texas. Then it’s over. You have California, Texas, New York. Does it matter how red Florida becomes? Does it matter if Pennsylvania is a purple state or a reddish state? It’s over. When Reagan won the presidency, he won all three of those states. But for Republicans, it. George H.W. Bush. He won Texas and California. They flipped California through immigration, illegal immigration. They flipped it. And they’re trying the same thing with Texas. But Texas has resisted. Their government has resisted. The people have resisted. And so it’s just let the border open and let people flow in. And whatever happens happens in terms of crime and drugs and whatever. The power is Flip, Texas. You don’t even need George. And we’re just flip, Texas. That’s what’s going on. You might say, Oh, MARTIN On that note, Danmark, nobody told you this. Of course they want to flip Texas, but they say replacement. No, all they need is Texas and Texas. The victory levels for Republicans are getting tighter. Tighter and tighter. So whether it’s Leninism or Marx or Graham Ski or Pure Marxism or whatever, it is, the form of Marxism, it’s about power. So they can come in and say 16,000,000 million acres of federal land which they seized. From Alaska. Six. I want you to think of that number, 16 million acres. Cannot be used to explore for energy. Period. Gone. It’s much harder to undo that once a president puts it in place. Did somebody vote on that? Nobody voted on that. Nobody voted on that. And in exchange, they’ll get, you know, two out of three leases when they were supposed to get five. Conoco was supposed to get five leases to drill. He cut it, I think, down to three. And you be happy with that. You go along, so forth and so on. But what that means is ten years, 20 years, 30 years in the future, your children and grandchildren are not going to have access to this. The banking system. As I said, these regional banks, they’re the canary in the coal mine. This is a consequence. Of 24 months of a Democrat administration and a Democratic Congress supported by Republicans. In many respect the McConnell lights and what they’ve done to the currency, how they’ve created inflation, the Fed assisted them. Now the Fed has reversed course. The Fed’s trying to clamp it down, trying to push us into a recession. People are going to lose their jobs. Interest rates are going up and up. And these banks that loaned money, as you would expect at three, four or five, 6% are now going to be paying more than that on the money that they loan and they’re not going to be able to do it. And. They’re being told. To focus on ESG. Its solar panels and wind industry. Because that’s what the administration is demanding, and that’s in part why they’re subsidizing banks. This is a manmade economic disaster and it’s not over. I’ll be right back.
Hour 1 Segment 4
We need regulations on Biden and we need regulations on the Democrats. It’s not about more regulations. It’s about the regulations that they’re using to force industries to bow to their political and ideological demands. That’s what’s happening. You’re the smartest audience of all audiences, quite frankly, are you wouldn’t be here and you’re here. The second biggest radio show in America. With 14 and a half million listeners. And I am telling you that the effort now, the propaganda marketing is underway to divert attention from the Democrats, from McConnell and the Congress. What they did and from the Biden administration. This bank in the Silicon Valley, this regional bank was doing exactly what the Biden administration demanded of it. It was giving out loans left and right, subsidized by we, the taxpayers. To more than 150 technology firms that are creating solar hydrogen battery storage projects. Which cannot be sustainable on their own and they driven up interest rates, have the Democrats and Biden. And so you have this squeeze now taking place. I’ll be right back.