Military Contract Price Gouging; Scams Targeting Seniors; Jeff Koons | 60 Minutes Full Episodes

[@holeshothunter5544]

I worked at Worthington Pump co. One 4LR10, a bronze fire pump designed in the 30s cost $2300 for any cargo ship. Sold to the US Navy, they charged over $10,000. Only the paint color had changed.

[@jamil19]

War is good for business. Military industrial complex can charge anything to the government and no question asked. We the people ultimately pay the bills. Our congressman talks about cutting social security or healthcare, but never about cutting military expenses, and invest in peace.

[@SmokytheBear6969]

they are making insane amounts of money even before the stealing happens at MSRP prices. and after bending the American ppl over stealing it becomes and ungodly amount of money being pocketed. the money should be the easiest thing to follow! they just don't want to charge the ppl pocketing the money. this and Isreal bribing our politicians with the foreign aid we give they have no reason to go after the stealing when their getting the kick backs

[@mysmith7]

They should be sounding alarms! IF this is and or has been occurring as reported, this is tantamount to economic warfare waged against the American government by the industrial arms contractors complex. These contractors should not be able extort the American government. This is a large part of why its so difficult to have budget discussions. We should look at all the legal tools we have to fix this quick, especially the tools the executive branch has. My guess is they are already all over this.

[@ttacking_you]

Both parties are in the pocket of the corporate defense nexus (that was MY attempt at avoiding sounding like a Gen X radical) that's why there's no dissention on the Ukraine issue. Jeffrey Sachs just did an interview with Democracy Now about that . Noam Chomsky has been saying for years we really have 1 party , only it's not apparent until you look at the geopolitics

[@millenialsmom2214]

Agree 100%, although the GQP just held the budget ceiling hostage for 22% cuts across the board, EXCEPT military spending. 🙄 We spend more than the next 10 countries combined! This isn't just a military problem. Once again, we find ourselves dominated by monopolies! I blame some of the inflation we're experiencing and the HUGE wealth gap on corporate monopolies. It's CRAZY to think in a capitalist economy that capitalists are going to do anything other than put profits over country & people. This will persist until we start enforcing ANTI TRUST laws and get the MONEY OUT OF POLITICS.

[@nealrutgerskid]

Wow.. you are so naive.

[@drago6568]

you really think anything will change? money controls America. unless a powerful force decides to support our cause to make our country a true democracy. there will always be slaves taking our burdens for us.

[@UKindness4]

Another Republican Clinton Act like the repeal of our banking laws for Wall Street while these corporate sold out Democrats tell you they care about the little guy. Both parties today did this while always picking in the struggling.

[@JonnyDee]

Thanks 60 minutes. These days we REALLY need investigative reporting. 🙏

[@StealthyDead]

Our defense department has been gouged to death for years. Fix this garbage and use the money to help our people with healthcare, college, and childcare

[@xyzzyi5315]

Don't forget about all the over watch we'll need for those programs also. No need to let those programs get gouged either.

[@Balint-y7s]

Some of this money is spent by their lobbyists on campaign donations in Washington, and cushy jobs after they leave office. They have no incentive to end this gravy train. This is all on us to fix.

[@hunterliggett]

"FIx this garbage" .... yeah .... right. Such wise words. In 1860 Christopher Spencer introduced his "repeating rifle." The War Department would not buy it for many of the reasons articulated here. It was new technology. No one was sure how to use it, support it, train it or pay for it (no less than 300% of the cost of the standard 1861/1863 Springfield). In early March, Wilder (COL John T.) arranged a proposal for New Haven Arms Company (which later became famous as Winchester Repeating Arms) to supply his brigade with the sixteen-shot Henry if the soldiers paid for the weapons out of pocket (later changed to Spencers after a meeting with Christopher Spencer). He had received backing from banks in Indiana on loans to be signed by each soldier and cosigned by Wilder. A better way?

[@Fee212]

Bravo Sir. Well said! 👏

[@musoangelo]

In the recent debt ceiling debate, of the 1.47 trillion budget, 890 million of that was for defense and the country was told that any cuts there were off the table. This as the right was threating to plunge our country in chaos over spending.

[@maytons]

One of every two Federal tax dollars is spent on the military industrial complex. Spending 30 percent less would have huge positive impacts for the economy and the value of the dollar.

[@chi21no]

Who's on their board's Who are the contractors!!. Ex politicians? This needs to be in the news.

[@johns.6197]

Par for the course

[@ArthurGlover]

The DoD has been overpaying for YEARS. When I was on active duty, my team identified significant prices differences between the SAME exact item and was told that our particular item was SPECIAL because of the system that it was in. Remember, the toilet seats. Remember, the hammers.

[@IamCaleum]

The leadership of these contractors should all go to jail and these companies should be nationalized.

[@josephmarzullo]

That would stifle innovation. We need to reform the system and eradicate corruption. But nationalize it? That would destroy their stock value as well

[@davel696969]

They've been doing this for 30 to 40 years. Name the political hacks in Washington DC who would take this seriously. These political hacks in Congress are supposed to have oversight authority but only use it for political theater during elections. The Uni party in Washington DC are often taking part in this corporate gouging & 9 times out of 10 go to work for these companies once middle-class American FOOLs SUCKERs and sheeple in their district wake up & oust that corrupt bum. Only to elect another bum that the corporation buys off or gets the said pain-in-the-arse politician out of that seat. This will only stop when we the middle-class American sheeple ban together & refuse on mass the tax dollars these corporate scam artists steal from each & every day of the year.

[@Black_Corey]

This is the only sane take. Too bad the US government is too dysfunctional to get anything done. The thief's and gangsters are going to rob and racket until the US treasury is run dry.

[@DissYraiN]

@@josephmarzullo nationalizing a company doesn't eliminate companies, it just makes them publicly owned. and it certainly doesn't eliminate innovation. if anything it encourages it because the workers share in more profit and more reward. and yes, eliminate the stock market. it's just another way for rich people to manipulate the market.

[@DissYraiN]

@@josephmarzullo you listened to that part where 51 companies consolidated into only a few? that's capitalism, buddy. it stifled innovation. and they used their power to manipulate the government into downsizing the oversight comities. watch from the 7:30 mark

[@seemore7327]

Price gouging has been going on for years. Government pays $12,000 for a toilet seat, $7,000 for a hammer!!

[@lamontpearce170]

And nothing ever changes..

[@shanecoleman7114]

Reminds me of the movie Independence Day lol

[@lesterryanmd]

Why aren't those people criminally prosecuted for theft, which it obviously is?

[@MerchantIvoryfilms]

Protected by the Republican Party that's why.

[@sullivanse]

Because the US has the best government money can buy

[@kier3202]

Because the lawmakers are the biggest shareholders.

[@isaiahgoodley6188]

​@@kier3202 exactly

[@bestbotreview]

Because the pentagon budget department section will mysteriously have another incident

[@Handball_Mike]

On September 10, 2001, then U.S. Defense Secretary Donald Rumsfeld disclosed that his department was unable to account for roughly $2.3 trillion worth of transactions.

[@KrisPcracker]

Just like Killery Killinton's emails whoopsies

[@SIGNALFREQ]

Taxpayers💰🗑️

[@mr.gamewatch8888]

@@SIGNALFREQ 💰➡️ 👖

[@SmokytheBear6969]

just like the trillions missing just before 9/1! where the records for those trillions being asked about happen to have a plane hit that exact spot LMFAO! yup the American ppl aren't just being robbed, we are being smexually assaulted with a broken glass d!ldo and then asking for more

[@UneedAname45]

I work in the hydraulic industry and was in the Army National Guard. AAI was charging $109 for a flair nut that cost $0.87.

[@-jovoc]

Meanwhile the IRS is hiring 20,000 new employees to catch middleclass taxpayers from shorting them $50

[@nigellei8591]

They can't touch the rich people. the tax preparers for those rich people are too smart for their own good.

[@WJWeber]

No they aren’t. They are primarily for targeting the rich and offering better support. But I want everyone cheating to be caught

[@rikopersian6407]

IRS: Because we don’t make money if we hire people to catch the criminals. 😢😀😀

[@SuperTruthful]

they are hiring to replace employees who are retiring get your facts straight

[@675daytonarider]

Write your congressman.

[@popeyedog]

They call it "defense" contractors. More like war machine mafia.

[@suntzu1409]

How long till these become cartels

[@iwuvmybigfamily]

This has been going on forever!

[@MegaLaidback]

No one is surprised about the price gouging by the military contractors. More protection and education for seniors against scams.

[@tragicrhythm]

Informative episode. Really hope something can be done about the price gouging and the scams.

[@cooperbt]

My parents were called by a supposed “attorney” telling them that I had rear-ended a car driven by a pregnant woman. The money was apparently needed for my bail. They got tunnel vision, and my father ran to the bank. Fortunately our banker called me and I was indeed home with my car in the garage unscratched. Thank god for her.

[@kwadjookai8172]

When generals retire and go work for these companies this is what happens

[@petedog9581]

Have congress waive the patent rights for these gougers and manufacture it with someone else.

[@Adriodyn]

Yeaa, would work if they weren't in on the grift. Lol.

[@joegaddy610]

Been watching my whole life... nice work...

[@chinookvalley]

I'm disabled. I had a cousin offer to help when my parents died. My brother and I signed on the cousin as POA to take care of the estate, because we both lived out of state, and the cousin lived close to my parents home/estate. She spent over $250,000 took over the home, and bought a new car. There is NO recourse. Sick system.

[@popeyedog]

Tell your story to more people! We are getting ripped off!

[@laraoneal7284]

What is POA?

[@luminescent__]

​@@laraoneal7284 it means "Power of Attorney", & gives legal authority of decision making on behalf of someone who needs assistance or a trustworthy competent representative (like a mentally or phys. Handicapped, Disabled, Very Elderly or medically incapacitated individual) who is unable to adequately handle/manage things legally/financially themselves so need a reliable person to help with or do it for/ on behalf of them.

[@laraoneal7284]

@@luminescent__ Ty .

[@NatPinkZ]

I call this, A smart and creative Businessman 😍❤

[@ingridllinas5612]

All themes were interesting and useful. Artworks by Jeff Koons are beautiful. The latest project on the moon is fabulous. Thanks to you.

[@williamaperrow636]

"As we peer into society's future, we - you and I, and our government - must avoid the impulse to live only for today, plundering for our own ease and convenience the precious resources of tomorrow. We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage. We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow." President Dwight D Eisenhower's farewell speech.

[@williamaperrow636]

Thank you all.

[@adamarmstrong6646]

My grandma had the same thing happen, they say grandma or grandpa and then the grandparent says Michael is that you? Or whoever it sounds closest to that they recognize and boom they have the name then they have someone else take over the call either a fake lawyer or police officer and then they apply the pressure its actually brilliant

[@dr.z3426]

We need a consumer protection act that prevents companies from blocking repairs, with holding information for repair, or making changes to a product for people who have already purchased it.

[@DissYraiN]

Colorado just passed a right to repair act. signed by a very gay and left govenor.

[@georgegouvas27]

they have been gouging for ever, my dad told us in the 50's that the military was stealing money by over charging

[@JasonMcKee-ow3xy]

My dad got scammed like this, he got a call from someone claiming to work for the organizer of a franchise broker convention he was going to the next day, saying he needed my dad to go buy $1000 worth of gift cards so they could be given away at the convention. He’s older but owns his own company and is still pretty sharp, but when they get you in the moment it can be really hard to tell it’s a scam. So sad they target elderly people.

[@beerbeerbeerbeerbeer]

Feel free to thank one of our Senators for this!

[@nozmo3678]

Everybody knows that an American government contract means ten times the money!

[@tinto278]

4:18 he said it! He called a magazine a clip! No one calls it a clip!🤣🤣

[@thebabel-mandebproject2170]

I love to listen to you 60 minutes

[@nigratruo]

You can be that the pentagon itself has probably no interest to reduce this price gouging, as they might very likely receive kickbacks and payments from the defense contractors to keep this practice in place and not fight it. But then again there are absolutely no budget controls for any defense spending, they pretty much get as many trillions as they want. kzbin.info/www/bejne/jKi9oKNtiLZ4aNE Bernie Sanders talking about how the $778 Billion Defense Budget just sails through congress unchallenged.

[@moviesforrandy]

seems like i read a story like this 30 years ago.

[@lawerancelanham]

Seems to me, the defense department would have been better off to build its own infrastructure for producing what it needs. They've let the private sector manipulate them into a corner and got played by capitalism. We could have built out a self-sustaining system where we mixed a military and civilian employee base and kept the costs right.

[@PetersFXfilms]

Seems to me that you just described communism. It usually doesn't work out very well.

[@ruthgardocki1343]

What else is new. This has been going on for years in all the Departments of our government!

[@kryptonarie6367]

And working and poor Americans wonder why we're not allowed to have anything nice?

[@TedApelt]

I occasionally get emails about my bank account being frozen, virus on my computer, or whatever it is, and I forward them to the appropriate fraud dept.

[@cablebrain9691]

SCAM STORY REPORT: Wow, I can’t believe how unsavvy these people are. All could have saved themselves this headache if they only followed one rule….NEVER respond directly to phone numbers, e-mail addresses, links or phone call information that YOU have not initiated. Look up the contact information on your-own if you need to inquire about an issue. In the case of the “Grandma call,” she shouldn’t have gone behind the back of the parents, and she could have at least verified the situation with a few simple phone calls. Assume every money/account situation is a scam until safely proven otherwise.

[@idorus]

they are old and already lost a bunch of money they don't need you on your high horse shitting on them

[@Orcawhale1]

"Everything is SCAM". "Yeah, fine, Kevin can you chip in for the meal". "It's a SCAM" See, Kevin this is why we never invite you to anything.

[@08996688]

I was scammed out of $5000 and Bank of America didn’t do anything else but blame me. Funny thing is that the bank allowed me to get scammed by clearing a fraudulent check until it was later identified as a fraud.

[@mdforseth]

I remember military contract price gouging reports from when I was a kid in the 1970s. The military budget, the PENTAGON, must be regularly audited! It’s insane the people who get rich from our tax dollars, including members of Congress who magically know which military-supplier stocks to invest in.

[@ogenevieve]

I can't shake the feeling that this "artist"isn't an artist at all, but a Gov't employee who's taking every day items and laundering money for them.

[@Fee212]

Now we see how John Bennet Ramsey was able to get a $118, 000 Christmas bonus, own two planes and a 30ft yacht. This is so disgraceful. Shame on them. ☹️

[@millenialsmom2214]

They're just following in every other US manufacturer's footsteps. "You have to pay us to fix it." 😡 Farm equipment companies are really bad about this. There's a new Colorado Democrat Congresswoman who's husband owns a machine shop and she ran and won in a red district on a bill to stop companies from not allowing people to fix equipment THEY OWN.

[@KrisPcracker]

That pay2play regime she belongs to scam Americans in the open and will continue to do so so long as they are able to purchase justices who refuse to look into them. Biden committed a quidproquo that we still have footage of in what the USA then referred to Ukraine as the #2 most corrupt countries in the world. Just to prove they were untouchable they then impeached Trump off of hear say that was an obvious lie then and proven to be now. Everything they accuse their opposition of is what they are its their way of rubbing it in

[@javierjalisco17]

Go back to 1993, the people that encouraged merging and cut watchdogs, if theyre on revolving door either coming from contractor before or are the ones gouging now. Then you know who to charge w treason, sedition, or conspiracy or whatever crime they committed.

[@joyyoung8959]

When my husband was in the Philippines a transistor went out. One of the young Marines there went to Naha and paid .15 cents an fixed the equipment. The commander said “ Oh no we can’t do that. We have to wait for the government to send one. “. It would cost $100. And at that time in 1964.

[@jjrr2273]

This guy chief negotiator for decades and just NOW speaks up?

[@albertmarnell9976]

Look at the Military, Industrial, Congressional Complex if you know why the debt ceiling is a problem!!! Yet they pick on the poorest over trivial amounts! Ask Susan Eisenhower!

[@atamh12]

keep it up MURICA. Making the rich richer

[@FBISHOJI]

The country is ran by baffoons I swear

[@mysmith7]

And where are all arms contractors profits going anyway? 🤔 Something stinks here.

[@NomadSupreme911]

Defense price gouging is the opposite of new information 😂

[@robertking3090]

Sounds like the government needs to break up the Oligopoly they created a let compitition come in.

[@findingmo7049]

If the government can take private properties under eminent domain, what’s stopping congress passing a bill to take over private contractors in the nation’s best interest? The military contractors are not pro America, they wouldn’t be where they are without tax payers. Time to remind them who they’re doing business with.

[@davemarr7743]

Empires collapse from the inside out.. When profits exide patriotism ..

[@emperorfloch]

Did anyone watch the part of the video where grandma got scammed outta her money?? I kinda feel bad for her but damn how dumb can you be... especially over thousands of dollars 🤦🏻‍♂️🤷🏻‍♂️

[@deezsquuezeorg]

Targeting EVERYONE.....

[@maldust7438]

That's just ROTTEN! I can just imagine how nervous and confused that Woman would of been getting a call thinking her Grandson is in trouble. I mean old people get very nervous easily. And especially putting them through vulnerable situations like that. The scammers obviously could care less about their health. And MOST scammers are from other countries, and Family is VERY important in their cultures. And respecting Parents and DEFINITELY elders is a must! So how would they feel if someone was doing that to their Parents, Grandparents?! They seriously need a taste of their own medicine!! it's just absolutely DESPICABLE putting old people through that! Shame on them!

[@waynereid3718]

There must be somebody to speak the truth too much curuption

[@williamburdine1118]

Politician lining their pockets with taxpayer money

[@TonyToneFixMyPhone]

Same with medical

[@Africa-Liberation-Army]

I never respond to such messages. I always get those phishing messages from scammers sometimes even on my cell phone. Latest one less than two weeks ago. They message you that you’ve either won something or have been hacked

[@juangenaohoms]

Always always always confirm

[@donnapido3824]

Cold comfort, but we have similar scams here in Kenya. Just yesterday one hit me to send money to save the life of a kid who had been hit by a motorcycle. I declined and then found out that the 'doctor's' phone number had been ID'd 15 times that day a couple of hours before me for scamming

[@observer7418]

"let business do their thing" = allowing child labor, poisoning villages' water systems, wage theft, price gouging etc.

[@boslyporshy6553]

Its all fun and games til you end up in the business' path.

[@garybowler5946]

Until gouging is penalized with felony charges for the company officers we can forget about it.

[@uncapabrew4807]

Need to see who is getting kickbacks!!

[@dy9278]

Way to go Pentagon!

[@lizardkingwalking]

Someone puts a price on a product and someone pays for it....the fault is on the one who is paying if price is too high

[@earnesthillsdale9218]

God bless this detective , if that happened to your parents.

[@roboneil711]

Gouging that’s what happened to the American people every time we get taxed. We use a card for example. The first person paid the taxes on it but every person after that that buys it pays again the systems broke my friends.

[@glenclarkchidley3637]

And I can’t get proper care at the VA

[@kburton531]

Ok I get that they're older people, but think about that entire process. Someone from law enforcement or some lawyer is gonna stay on the phone with you for an entire hour. Walking you thru a process step by step, instruction after instruction, and telling you who not to contact smmfh. However that A.I stuff is scary, but I'd ask a question that only that family member would know, or immediately hang up and contact the individual directly.

[@shirleylavernerosej.120]

8:14 this is how they seized power took over government with pentagon permission so how are they serving & protecting by making it easy to price gouge & take leverage from who? Citizens & government

[@cynicannkeel8899]

Where have we ever seen industries in any fields be relied on to charge reasonable, fair prices to the U.S. gov't, or anyone else for products, especially since the number of producers of most products have shrunken as more & more companies have been bought out, limiting access to products.

[@J.O.222]

The defense budget went up! They should learn to be frugal rather than asking for more money. This country is supposed to be a competitive capitalist financial system but it seems to always boil down to only a greedy few owning everything! There needs to be drastic change in the U.S.

[@cheickfall7399]

It is scary for real if these companies do not really care about the country. They do not care if the country goes bankrupt in the long run.

[@dorthymcbride3384]

This reminds me of the cell phone and gaming systems.....the manufacture develops better and better products to charge more and more money! Greedy world!

[@Sashazur]

The difference is that people can choose to spend less on their phones or games and not risk the safety of their country.

[@williamelliott]

Many of these scams come from India as well. My wife gat a new I -pad a few years back and in jyst a few days a pop up came on screen saying there was a problem and to call a certain number. I called that number and they wanted a large amount of money to repair it. The I -pad would not work. I told them it was brand new and I am calling the manufacturer and the FBI and immediately the I -Pad started working perfectly.

[@MerchantIvoryfilms]

2024 Republicans: Build up more military bases/navy/air force! Give them ALL our money!

[@timp1970]

How can you fall for these stupid, obvious scams? Especially today. People are getting stupid.

[@kmos1948]

Always … it just goes on and on. Year after year at the Pentagon

[@kevinnguyen5588]

Sounds like the semiconductor industry.

[@brian_hibbs]

When Republicans say we need to cut oversight and regulation this is what happens. Should we pay people a salary to make sure tax payers aren't paying 12 grand for an $80 part or pay trillions for no reason?

[@Africa-Liberation-Army]

All defense supplies should be supplied by government instead of private contractors. They’ll only care for profit and you can’t blame them. We are in a capitalist system and excess profit making is not illegal. Money is so important in a capitalist system. I think the solution is to nationalize them companies that supply defense equipment

[@annamariaverduzco6237]

It’s always been out of control since the 80s

[@WheelerRickRambles]

As a politician…you award the military contract to civilian company owner so&so…then, a yr / 18 months later, that so&so makes a sizable donation to your campaign … Is how I always thought it worked.

[@rb8049]

40% is not absurdly high. It’s reasonable. The problem is costs are too high, not profits are too high!

[@jeffrey.a.hanson]

‘Ballon Dog’ needs to replace Wall St.’s ’Charging Bull’ for one day. 💵🐩🗽

[@bhappy5510]

American contractors are doing this to AMERICA ?

[@karenwaddell9396]

And yet the only discretionary funds they don’t want to lower but continue raise is defense budget?

[@vidninjah]

Price Gouging is happening on all food products and no one is talking about that.

[@garym7989]

HOW is it that any US level gov. can apply imminent domain and simply take over a perso´s property, AND YET A CROOKED COMPANY, STEALING MONEY, AND ENDANGERING NATIONAL SECURITY, has an Axe over the head of OUR government and our military in actual dangerous events? I think politicians are in on this as well. LOOK There.

[@popeyedog]

Nick Howley deserves Life in Prison.

[@johns.6197]

51 major defense contractors merged into 5 behemoths the only power we have is to stop paying income tax

[@Snackz11]

Its getting harder to be a patriot

[@User_1dashzero]

A patriot respects the land he or she was raised on. Not the people he or she grows up around.

[@tcime783]

Get them price scammers

[@popeyedog]

This is not news to me, So the American Tax payers need to wake up and stand up. Come on people!

[@iknowcommonsense395]

There’s enough engineers and scientists in DoD to reverse engineer the hardwares if they could. The problem is they can’t because of some patent rights bs.