Merrill Lynch Punished For Hiring Black Brokers

[@jpkm123]

never argue with a fool Peter, his/her game plan is always try to drag you down to his/her level and beat you with experience

[@AbB-nv2wk]

As a mixed race American, lawsuits like these hurt everyone including minorities. They make us all look pathetic, man this pisses me off.

[@JohnnyTango111]

Damn I just love how you make perfect sense Mr. Schiff.

[@mehditaba6303]

Very informative. True journalism. Thanks Peter.

[@ristau]

Peter Schiff stands for truth.

[@petroname]

Great, convincing speech, Peter. Thank you!

[@Shocksink]

Thanks Peter.....

[@MrMurfthesurf]

I do not think any sane person would take this job in our condition.

[@ThingWhatKicks]

In case you haven't noticed, being racist has become a badge of honor.

[@markgrisham7437]

Great vodeo. as always. This is insanity galore. America, you are going down!

[@OzClawhammer]

Hey Peter, I'm all the way down in Australia always awaiting your next video...keep 'em coming.

[@TheHerrUlf]

Exactly. That is equal freedom: you are free to not to do business with me, as I am free not to do business with you.

[@DJBremen]

Pete keeps it 100...cant argue with him here

[@endlessadventure541]

Peter is correct as usual.

[@TheHerrUlf]

You're so right, sadly enough.

[@Thurgor_Supreme]

Does anyone know why the hell Merrill Edge is estimating $30-75 of commissions per trade when they said having $25k in my accounts would waive fees that are only supposed to be $8.95 in the first place?

[@j50wells]

As a white, bald guy since the age of 9, I have been discriminated more than any race or woman could ever imagine. I'm not crying about it. I moved on and worked hard and became a strong tree in a gale. I worked on my ability to charm people. I worked on using humor. I worked on using wittiness and cleverness. I never went to the government and cried about it or asked for a settlement.

[@TheHerrUlf]

You're a wise person.

[@YeshuaAgapao]

Wonder if the USA government could cancel the cruise missile bombardment and write $100,000 checks for 15,000 people instead?

[@Svendtunes]

They'll just sue for not getting the job, which will have them getting paid for nothing.

[@williamsmith3838]

Good one man love it.

[@ThinkBig500]

"I found out I more than a couple millions" - You do a great job of showing your intelligence.

[@peterschiff]

This video is taken from my radio show, which you obviously do not listen to. I talk about gold every day. I have been bullish since it was under $300 per ounce. Its now about $1400. So how exactly am I a failure? Also, how is a frank discussion of this case "race-baiting."

[@zbudda]

Yes my original post is BS, it was meant to be. Cheers for breaking it down and explaining my sarcasm.Thanks :P

[@arrrryyy]

Schiff is also telling - oh why are they pissed off - commission rates are the same . WTF. Who cares about commission rates when nobody is giving you any leads.

[@Doyle-Nutbush]

What a Fucdup Judicial system we have.

[@livadi23]

I love how he called Stan O'Neill Paul O'Neill at 19:40

[@DavidStanleymusic]

I'd wait on buying precious metals at this point in time

[@zbudda]

Just need to do the black test to judge their BLACKNESS. 1- Try to hail a taxi in NYC. 2- Drive an expensive car near the police station. 3- Walk in to expensive shops and see how fast shop assistants stalk them. 4- Can they still walk in to a black hood with out being shot at?

[@teller121]

Nailed it.

[@YeshuaAgapao]

Or better yet, cancel the cruise missile bombardment and instead have less of a budget deficit.

[@LFSPharaoh]

I just heard about that, really creeps me out, it's almost as if they know....like not if but when shit hits the fan

[@JakobDor]

Even if they were discriminated, it doesn't matter. Other people don't have a right to your property.

[@tallswede80]

that's right. Discrimination is legal. Nowhere in the constitution does it say that you have to do business with someone if you don't want to.

[@Nikilwig]

So each of these people in the settlement get 200k regardless if they were discriminated or not...

[@jowen034]

The problem with taking it to trial, is that it was being dragged out, and it was costing ML a fortune. So instead of continuing to throw money down the drain, they cut their losses and trying to avoid as much publicity as possible.

[@spiritnexus999]

I agree. Just let it crumble so we can rebuild it.

[@PlayNice123]

Peter is a man who does speak truth to power...gotta give him love and respect for that....I say separate because when we were separated we were better off as a community...we had an economy...ever since segregation stopped we have been at the bottom with nothing to call our own. The white man does not wanna live next to the black man.,...lets not act as if we dont know "The black part of town", "The wihte part of town" etc etc.

[@reconarena9421]

Anyone who says "Peter is a failure" has not seen the "Peter Schiff was right" videos.

[@ThingWhatKicks]

The proper response is, "Of course I'm a racist. Bite me."

[@vanscoyoc]

Lack of Diversity is the Strength of Japan and China.

[@peterschiff]

My daily radio show at "schiffradio" is free to listen to.

[@mites7]

I'm a trader, but I do contract work for a black RIA. His race has never been an impediment, because he's incredibly intelligent (University of Chicago MBA, formber JP morgan wealth management director) and gets results. This whole case is bizzare.

[@KingNnaji]

Just checked out and researched Peter Schiff net worth since he talks alot about how smart and rich he is and I found out I more than a couple millions richer than him. I was actually thinking of investing some of my cash with his investment company, but now I have found out deep down what he really thinks and who he really is, that will never happen. Thanks KZbin for letting people share their belief system and their views so we can see them for who they really are. Keep talking Peter Schiff!

[@defacto1769]

This guy right here has a great channel. You guys should all check it out.

[@libertopian]

I hope to start my own business some day, but I will probably never actually hire any employees - only some consultants and contractors.

[@SurgingChaos19]

No matter how small the government is, the government will ALWAYS become despotic in the end. That is the fatal flaw with minarchism. If you want true liberty and peace, it is better to just abolish the state entirely. What government has ever *stayed* small and limited? No government at all.

[@mobeasley8577]

I'm black & I can't see the logic in this lawsuit or see how this helps black ppl. If we want to be treated be fairly then we must end all frivolous litigation that just leads to favoritism not fairness....

[@JohnSmith-ts3pj]

Yup. A good rule to follow hear should be: If you can't feed 'em, don't breed 'em.

[@vanscoyoc]

You don't hire them to begin with! Problem solved!

[@panhead55]

Couldn't say it better myself friend.

[@juxier]

welcome to Zimbabwe

[@HeadoftheFed]

The free market helps people in way they can never understand. When I was young I tried to become a Realtor but failed. However, now am a nurse, I make good money and I can pick the days of the week I work. When I failed at real state sales I was so upset and hurt. Now I have to say it was the best thing that could have ever happen to me. Life is not easy but you do have to find what you are good at, and am good at helping people. :)

[@asleeperj]

I just got a pro ObamaCare add on a Peter Schiff video, I don't think the government is spending it's money wisely.

[@TruthOnlyOne]

HR @ the world bank are about to be sacked for this reason too.

[@mites7]

I'm not white, but I work in the industry and agree with Peter

[@smedheat]

Equal opportunity and Equal outcome are not the same thing.

[@fromthelandofozz]

if they settled then the judge had no say but Merrill Lynch probably thought it was going to cost more time and money then the figure they settled for

[@M1ke22]

Peter got so excited and passionate about this topic, that he had to change shirts at 24:36 :P

[@DonJuanDM]

I moved from east to west to study by myself when I was a teenager and didn't realise the place (dump) was actually quite racist. Fed up of racist verbal abuse, studied hard to get good enough result and found a nice friendly school I really enjoyed and continued all the way to university, got a job, family and stay in the country. I guess the best revenge is to prove yourself to the others. BTW, IMHO go for extra mile and passion in your work are far more important than having a high IQ.

[@michaelpero4209]

Without the dollar each person would actually be free to pursue their interest. Instead of just trying to make it out of "the hood". Making this conversation useless

[@jowen034]

I worked as a server while in school, and it's true that most blacks do not tip as well as whites. What I found interesting though, was that probably 1 out of 10 of my black guests, typically older couples that seemed successful would tip very well usually between 20-30%. And I always gave the same service to everyone. I believe the ones that tipped well, did so in recognition of the stereotype, and working to change our opinions.

[@AsgerJon]

A problem for black brokers could be racist rich people, who would buy from a white broker, but not a black broker, but then it's insane to sue the company that also lost money, when the black brokers were discriminated against.

[@teller121]

yes, though I'm a former investor of his and book owner (and big bullion owner from another shop [did okay with it before bailing]), I must say that over past yr, I've settled on your view as well. The radio show is just to keep the brokerage name out there. he opened gold shop right in the middle of it tanking but wouldn't admit it. missed on dollar, $5,000 gold sometime in my lifetime, decoupling of foreign stocks (for some reason) from US stocks, calls Ben an idiot when he has nailed it.

[@TheHerrUlf]

Exactly.

[@TheHerrUlf]

Yeah, disgusting.

[@josephscott3096]

If that's true, than that truth should definitely not be ignored. But the root cause of that is obviously very complex and deep and is another discussion entirely.

[@ThingWhatKicks]

You wouldn't? Really? The fact that Peter talks about race makes him vastly more credible.

[@ThingWhatKicks]

Well, it would become habitable within a five years, at least. Unfortunately we're not going to be seeing any kind of real rebuilding in America until we can get out from the burden of federal and state economic regulation.

[@Skandalos]

Its more a problem of your legal system. Merryl Lynch did not lose the case, they agreed to a settlement to avoid further costs.

[@ThingWhatKicks]

Awww, somebody did a google search and didn't like what he foooouuund.

[@dragonballman07]

160 million dollars! holy fuck!

[@HBFTimmahh]

Sweet, Im going to Sue a HUGE Insurance Company for not giving me a Job because I am Irish. Class Action Lawsuit anyone?

[@MrFromminsk]

Peter, have you ever thought about becoming an attorney. You are pretty good at that!

[@TheHerrUlf]

I agree. Still, gutwrenching watching it in real time.

[@TheHerrUlf]

Agree. Just saying that when they get blamed for the downfall of America - and they should get blamed - then they have no excuse and can be treated accordingly. Not that conservatives have much to be proud of.

[@williamrlittle]

Proves they want a hand out, even in the work place.

[@Super1TruthSeeker]

Six thumbs up for the stupidest commit on the board? Let's get back to reality here, no one is equal.

[@MrMurfthesurf]

I gave a interview to a guy he showed up with a wife beater t-shirt and had a black eye so I passed on him he happened to be black the next week I received a call from his lawyer he informed me I was being sued due to racism.I showed up to his office with three of my crew the next day all black and a pic of this clown I took during the interview.The lawyer dropped the case.Next time I will think twice before hiring anyon

[@smolville]

What if your company lowers the incentive rates so that the janitors and the fork-lift drivers are making more than the assembly line people? They also make it tough for the people with a lot of seniority. Black people are big fans of unions and both are gone from this state.

[@j.dsmith9210]

personally i wouldve left this issue alone Peter. nothing good is going to come from this on any level. its too many variables and your view and the counter view can be supported and dismantled equally..

[@margaretcoulter2645]

OH Peter ! black brokers need all the help they can get. Just like rich people need all the money they get!

[@mjensenismeismjensen5587]

he's just a businessman who speaks on this issue from a business point of view

[@StruC]

Most people that have a lot of money didn't work for it. Someone else did.

[@gammaray_]

im Iranian I agree with peter

[@ThingWhatKicks]

A heck of a lot of people get it. But a lot of us have jobs that require fawning over the emperor's new clothes. So, we keep our mouths shut and just get angrier and angrier.

[@zbyszanna]

I hate when Peter answers calls, because he doesn't listen and doesn't have any dialog. He is almost always on the point, but it is really frustrating to watch him "not talk with people" on the phone.

[@seeker425]

It's occupy wall street. Wrong person to get made at.

[@WAVYMCFLY2]

wow, that was just a couple days ago, the 10 year was 2.78%...it's now at 2.9% XD

[@j.dsmith9210]

why and what will that accomplish?

[@fountaincap]

Even if those statistics are true, we don't know if lower IQ actually leads to poorer performance in this particular profession. Could be something like work ethics or the demographics of potential clients.

[@Virtueman1]

Peter Schiff you are awesome. It's a pleasure to watch your show every week. You could benefit alot from incorporating some more of Ayn Rand's ideas. Bring morality into it, that's how the other side won.

[@916deez]

if you black as Wesley Snipes you get 3 checks

[@auag3835]

What you just wrote is the exact definition of racism. It's one thing to say you don't like someone because you think they're ugly, plus it's impolite to call somebody ugly anyways. It's another thing to not like someone because they're black, that's racism, plain and simple.

[@todmills]

This video brings to mind the 2006 Will Smith movie, "The Pursuit of Happyness".

[@hume1234561]

cont.. (including those you rally against) the likelihood is far more certain.

[@AthrazhuR]

This is so funny.."How is that my fault". The statement of half a step removed beneficiaries the world over. The bounty you enjoy is from your own efforts, and the injustices of the world are the faults of forgotten ghosts. I was a broker at Merrill, for my 12 months I would get the large sum of $480. Hardly a windfall. Merrill got strong-armed, god forbid they subject their nasty industry to scrutiny, of course they settled. Was there systematic racism at Merrill? It's America...right?

[@AthrazhuR]

As Schiff keeps saying they would have had to work harder. Their qualifications would have had to exceed that of the white brokers. They would have to be talented enough to overcome the obstacles that the white brokers would have to overcome in addition to the obstacles that were unique to their condition.

[@teller121]

ARM, I didn't see it 6yrs ago when I backed up the truck and I still don't understand it now. Given the stock and gold results recent yrs, it is obvious that gold has failed. I still have a fair amount because I couldn't pull the trigger; like you, I couldn't believe it wasn't going to explode. We were told with limitless QE (now winding down despite Peter's ridiculing Ben), us gold bugs couldn't miss: 3,000 here we come, right? Then came Europe melt down and Jap 1.4TR print job and Cyprus banks

[@mkmason2002]

If they're paid on commission then it's up to the individual! LOL! Another scam for FREE big bucks.