L.A. Council Backs $30 min Wage For Tourism Workers - podcast episode cover

L.A. Council Backs $30 min Wage For Tourism Workers

May 15, 202530 min
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Episode description

Michael Monks joins the show to talk about how L.A. council backs $30 min wage for tourism workers. Cartel Money Laundering.

Transcript

Speaker 1

This is Gary and Shannon and you're listening to KFI AM six forty, the Gary and Shannon Show on demand on the iHeartRadio app.

Speaker 2

Retail sales slowed in April.

Speaker 3

Tariffs have been weighing on consumers or are pooled pulled forward spending on some key categories in the month of March ahead of those terraffs. So the headline retail sales rose tenths sorry, one tenth of a percent in April. It's a little bit above the expectations for sales to be flat. It's well below the one point seven increase one point seven percent that we saw in March.

Speaker 1

So you'll forgive my whiplash, but here it exists.

Speaker 4

Because the last time we had Michael Monks on from.

Speaker 1

KFI News, we were talking about La City being in such a deficit that it had to get rid of all these workers, had to lay people off left and right. And now the La City Council is turning around and telling business leaders in La you have to pay your people more. That's real rich, isn't it.

Speaker 2

That's the great irony of this.

Speaker 5

And it wasn't lost on some people who oppose this minimum wage increase. For some airport and hotel workers. In fact, a representative from the Hollywood Chamber of Commerce started his remarks to the council, look at the economic climate inside this building, inside city Hall. At this very moment, you were talking about laying off sixteen hundred workers because you yourself are not fit to pay them anymore. And that is the situation in which we find ourselves in Los Angeles.

Across LA the economy is a little stagnant here. Restaurants are closing, New businesses aren't coming the way that they might have. But now, by a twelve to three vote, the city Council has in fact given the initial approval. They'll do a second vote, just more of a formality at this point, to give final approval to a raise for these workers at the airport and in hotels with sixty or more rooms up to thirty dollars an hour by twenty twenty eight.

Speaker 2

Wow. And so this will be an incremental raise. It'll start in July.

Speaker 5

They'll go up to twenty two to fifty, which is modest compared to what the minimum wagh now, so it's a couple bucks more, but it's going to go up incrementally over the next few years until it reaches thirty dollars an hour.

Speaker 1

I was complaining about something at home work related to my husband. He says, well, why don't you quit and go work at a hotel near the airport? And I didn't really ask a follow up or or think about it further. But then this happened, and now I get what he was saying.

Speaker 2

It's right, so he broke news.

Speaker 4

He wrote news.

Speaker 2

I think you'd be a good waitress.

Speaker 5

You'd be a sassy wait but would you be the type of waitress that sat down at the table to take the order.

Speaker 1

She's an edge everything about you about time your meal was done. But this isn't for Is this for waitress? Wait staff as well?

Speaker 5

The interesting part of this as it relates to that specific job if you're waiting.

Speaker 1

Tex And why did I just put myself in a waitress outfit in my head from like the fifties?

Speaker 5

I wonder the only one I was gonna say. I wonder if you did the same one that was in my head.

Speaker 2

Let's all sketch, Well what we just imagine?

Speaker 4

Why did I?

Speaker 5

No, I don't want to to come down here because I don't want to have to take one of these jobs, even though the pay is more interested in this building, the.

Speaker 1

Votes don't even work. Do you know that we don't have working votes here? That's hilarious.

Speaker 2

Think about this.

Speaker 5

Let's say you work at Gary and Shannon's cafe outside of you know, Silver Lake. You're in silver Lake, a standalone building, your popular restaurant, and your servers are in there.

Speaker 2

They do not get this.

Speaker 5

But if there is a holiday in with a restaurant inside it next door, the workers inside that holiday in cafe, they do get this.

Speaker 3

Fras yes, how uh okay, how come nobody on this city council.

Speaker 2

You said it was twelve to three the vote yesterday.

Speaker 3

So there's three people who would arguably listen to this proposal by the unions, right, because that's I'm assuming where it comes from. Yes, uh, and the three of them would simply say, you're affing crazy.

Speaker 2

There's no way that we would be able to support this.

Speaker 3

There's no way that the company that own those hotels and those tourist spots, whatever they might be, there's no way that they're going to want to do this. So to protect what does exist there in that infrastructure in terms of hotels or places where this would apply we're gonna not do thirty dollars an hour because we don't want these companies to pull up and leave. We want them to maintain some sort of footprint in our city.

Speaker 2

How come it only.

Speaker 5

Was three It was on the city council members Monica Rodriguez, councilwoman Tracy Park, and Councilman John Lee who voted against this. They raised a lot of questions over the course this has been going on for months, these conversations, it was clear they were not on board with it because they were listening to the industry and it's not just.

Speaker 2

The big guys.

Speaker 5

Hilton, which it does have an important thing to consider down in Universal City not far from here, that they may stop doing, which is a major expansion, and they have an agreement with the Olympics. But they were talking about some of these all hotel ears and if you are a shop owner in the airport, you're not some big corporation and you're already struggling. This was the point

that was hit really hard. The argument here is and why twenty twenty eight is the target date for it to hit its max for now is because the Olympics are coming and we're the people on the front line and making sure all of these visitors have a great time.

Speaker 2

And by the way, the Olympics aren't forever.

Speaker 5

They're two and a half weeks long, so this is something that will last beyond the Olympics. But tourism right now and business right now, it's not just bad, it's getting worse.

Speaker 6

Then.

Speaker 1

Those businesses that they're targeting are struggling more than usual.

Speaker 5

And they have data to prove that. So they heard from the CEO of the LA Tourism Board who came in and gave statistics. It's not just international travel that's down.

I know that's been tied to the White House and some of the rhetoric and maybe the tariffs and all of that, but domestic travel from some of the key markets that they identified, New York, Miami, Washington, DC all down, down, down, And so there were I just as a guy who watches every city council meeting, including the committee meetings, they're just rarely, really never any discussion about improving the overall climate of Los Angeles to make it more.

Speaker 4

Yeah, how is this going to attract people back to LA?

Speaker 2

I don't have an answer anything.

Speaker 4

It's going to make it worse.

Speaker 2

On your face.

Speaker 3

Sorry, your look wasn't tell but the blank look, because there is no answer to it.

Speaker 1

No, no, If anything, it's gonna make it. It's gonna make it worse because these businesses holiday and for example, are going to have to pay people more. Well, where do you think they are going to pass that on to? They're going to pass it on to the people from Cleveland who come to visit.

Speaker 4

They're going to pass it on in higher room rates.

Speaker 1

They're going to pass it on in not refurbishing their hotels the way that they would have had they not been hit with this payroll tax. Essentially, I mean, it makes no sense. I'm not asking for the La City Council to suddenly make sense or be business minded people, but to me, this is like kindergarten level intelligence of how the hell do you expect this to attract more people to your city and businesses?

Speaker 6

And that?

Speaker 1

I mean, it's it's it's awful and you can't even balance your own books. You're already so far in the red, and now you're telling business owners to spend more of their money that they don't have as well.

Speaker 4

I mean, it really is next level Fresno dumb for.

Speaker 1

Sorry, Kean No lovely by the way, the gateway to usemity.

Speaker 5

Really it was a little inside conversation like Madera all love the Fresno and the listeners there. Yeah, yeah, I'm sorry I started it and I apologize. I'm from Kentucky. I just picked up the ball. It was on the field. There was a fumble. I was rushing towards the goal line. I do want to note that because this this increase in pay also includes an increase in healthcare contribution.

Speaker 2

We got more than stick around.

Speaker 3

Michael Monks talking about the La City Council and the backing of a thirty dollars minimum wage for hotels, despite everybody in the tourism industry saying that's an awful idea. That is just a stupid, awful, Fontana dumb idea. You know what I changed the city?

Speaker 1

Do you know that Fresno, just to go back to the well is the raisin capital of the world.

Speaker 4

You know what sucks? Raisins?

Speaker 2

Oh they're delicious?

Speaker 4

Oh really do you love?

Speaker 1

Oh?

Speaker 4

I hate raisins?

Speaker 2

Did you love the California raisins and chocolate.

Speaker 4

And they're not?

Speaker 2

Oh? You get tricked by raison.

Speaker 4

I hated the California raisins.

Speaker 2

I love them, Oh, I love them.

Speaker 4

So the manipulation of children is what that was.

Speaker 2

Gary and Shannon will continue.

Speaker 6

You're listening to Gary and Shannon on demand from KFI AM six forty.

Speaker 3

President Trump's visit through the Middle East. He's in the UAE today. Supreme Court also looking at the President's attempt to broadly enforce the executive order to limit birth right right citizenship.

Speaker 2

It's a kind of an.

Speaker 3

Unusual case in that the administration has used this birthright citizenship case to argue that federal judges should not have the authority to issue a nationwide injunction, sometimes referred to as a universal injunction.

Speaker 2

So that's one of those stories that we'll talk about.

Speaker 3

Also, a celebrity death, Maybe he didn't realize Morris died Morris the Alligator from Happy Gilmore, most notably nineteen ninety six.

Speaker 1

Most notably as opposed to what else has Morris done? Some other most notably some freelance independent gator films. Based on his growth rate and tooth loss, they said that he was at least eighty years old when he died. Eleven feet long, six hundred and forty pounds ball, give it here, you.

Speaker 2

Dirty past it.

Speaker 3

I swear to God, you give me the give me the ball alligator.

Speaker 2

Remember, and that's when you realized that was the gator that took Chubb's hand.

Speaker 4

Thank you for taking us down memory lane. Appreciate that.

Speaker 2

Such a great movie. The sequel's coming out soon too.

Speaker 1

Dick's Sporting Goods bought foot Locker. Footlocker has been in trouble about two point four billion?

Speaker 4

Was that sale?

Speaker 2

Not much?

Speaker 4

Whatever happened to Footlocker? Is it?

Speaker 1

Is it because they dressed the guys up in rough outfits and then they started playing with your feet?

Speaker 2

That was weird? Is that why the company didn't do well?

Speaker 4

Why didn't it do well?

Speaker 2

They were all in malls. Oh, and malls are very good.

Speaker 4

Point.

Speaker 3

We have a chance for you to win one thousand dollars. Here's how you pick it up.

Speaker 6

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Speaker 3

Hold on, I have some bookkeeping here. Cash is the word. It goes on the website an hour from now. We give you another shot at one thousand dollars. Two questions. One, why did you think you had to tell us.

Speaker 2

What kind of deodorant you wear?

Speaker 4

I really like?

Speaker 7

And b.

Speaker 2

Were you being honest? Is that really the kind you use? Yeah?

Speaker 4

I like it.

Speaker 5

Oh there was a commercial playing on the screen and you pointed at it and said.

Speaker 1

That's it's really good. I love those TVs off.

Speaker 2

The ones that face her should be turned off. Yeah, during the show.

Speaker 1

Yeah, Michael Monks. Wow, we're not just gonna hate on Fresnow. Hey, if you have a city you hate, let us know on the talkback teature.

Speaker 2

That's good.

Speaker 4

I want to show your math, Michael.

Speaker 2

Tell us more.

Speaker 1

Not only is there salary going to go up or their hourly rate, but also the bennies.

Speaker 2

The healthcare contribution.

Speaker 4

Yeah.

Speaker 2

Absolutely.

Speaker 5

By twenty twenty eight, they're going to be paying about eight dollars plus an hour for these healthcare contributions. So that's a no. They're added expense for these businesses. Now, healthcare in this country can be debated all you want, but right now it is mostly provided by employers, and for these workers, they're going to see a significant increase and what they're getting. There is a proposal to make it, which I thought was strange. Tell me if I'm wrong

that this is strange. Councilman Adrin Nazarian, he's the guy who got elected last year to replace Paul Krekory, and so he represents the part of the valley, and he put a motion forward suggesting that these hotel and airport workers who already have insurance through a partner or through some other means, they should be able to recoup their healthcare contributions in cash because they're using WOW, a different WOW.

Speaker 4

So we're just handing out money.

Speaker 5

That's like our company. Also, like most companies, I think these days are encouraging. Hey, if you can get healthcare through your spouse or house, please go do that.

Speaker 2

But they're not giving us the money for it.

Speaker 3

I will even go so far as to say you must tell tell them, you must tell the company if your spouse has healthcare available.

Speaker 2

You can't just not do it or not sign up. For it. You've got to and they will be very angry with you if you don't. We subject to that. Yeah, we live.

Speaker 5

In an era where I mean spouses may have different health care plans because companies are like, this is too expensive.

Speaker 2

So this was not.

Speaker 5

Shot down, It did not get included in the motion that ultimately passed. But this amendment that was offered by Councilman Nazarian, which again sought to ensure hotel and airport workers could recoup in cash their healthcare payment if they already receive healthcare through a partner, spouse, or veteran plan, that has been sent to committee for further exploration, rather than just shot down outright, all right, I.

Speaker 3

Want to tie this into the Olympics, and I heard this proposal. The idea of our proposal is not the right word. Here's an idea if you want to get the city ready for the Olympics in twenty eight. We have a dry run coming up next year with the World Cup, I believe, and other big events that we regularly do. Anyway, is there a way for us or for hotels, tourists based industries to increase minimum wage for the Olympics.

Speaker 2

I don't know. The municipal law around that.

Speaker 5

It's a kind of a city attorney question probably, but if that's what their goal is as stated here, it's something that maybe could have been explored, like, hey, while these two and a half weeks are going or the months surrounding it as well, for a temporary time, you will have to pay this much because it's going to be really busy here.

Speaker 4

And why just do your job? Why do you I don't get that.

Speaker 3

I mean, I don't agree with that idea of doing it just for the Olympics, but it is going to be busy and offer people over time. That's a lot of ways that a lot of the lot of time. That's the way people make extra money is they're willing to work a little.

Speaker 2

But who's checking in right now for the Olympics work?

Speaker 1

I mean, come on, did a service job it was better when it was busy or the day went by quicker.

Speaker 4

Yeah, well you should.

Speaker 1

Get paid more because it's busy at your service job.

Speaker 4

That's ridiculous.

Speaker 5

The union here Unite here Local eleven, they do. What I've learned is possible at La City Hall. I mean, if you come to La City Hall with the demand, if you stand and shout about four hundred times. You usually get what you want, and that's what happened here yesterday. You've heard a lot of that chanting, a lot of characterization of these businesses being selfish. Were CEOs and stock prices and all of that. I this as predicted by

the tourism industry, the hotels, the airport workers. We also heard from the chairperson or the CEO of the of the airport board. This is going to hurt the businesses.

Speaker 2

You know.

Speaker 5

It seems like it might be another step to make us not ready to even begin to be ready for the LA Olympics, and maybe we'll make a motion to move them to Fresno.

Speaker 1

When you open up circle, Monks ice Cream, Monkery.

Speaker 2

The monkeyy, I don't I don't know.

Speaker 4

That kind of monkery. The Monker a.

Speaker 2

Brand new raisin flavor, but I.

Speaker 1

Don't like raisins. Monk's Creamery, I don't like creamery.

Speaker 5

I like creamery, and I was leaning towards that, but Monk's Creamery sounds no kind of holy and I feel like I'd have to lean into that.

Speaker 4

You'd have to do rosary things.

Speaker 2

I could. I could open up next to the robes. We could have everybody dressed like monks and shave their.

Speaker 4

Heads or okay, my question before they have.

Speaker 5

We could chant at the customers, welcome to monkst Creamery like.

Speaker 4

That, Oh my god, you paid attention. Holy hell, that's the name.

Speaker 2

That's the name.

Speaker 1

Anyway, will it be in a tourism area? I wonder, because I think it won't be.

Speaker 5

Now my ice cream shot, which will probably take on more of an air of like an old time general stores, what multiple products?

Speaker 2

When ice cream will be what you go there for? Yeah, yeah, it's gonna be Kentucky.

Speaker 4

Oh the Monkery.

Speaker 5

Yeah, So please come visit Covington, Kentucky in about three to five years.

Speaker 3

Thank you, as always, my pleasure. Cannackle monks from KFI News.

Speaker 6

You're listening to Gary and Shannon on demand from KFI AM six forty.

Speaker 3

Nathaniel Radamak wouldn't remember his name, but he got popped for a bunch of caught on camera road rage things where he'd hop out of his tesla with a pipe.

Speaker 2

In his hand out bak, yeah, yeah, yeah yeah.

Speaker 3

So October of twenty three, after he's arrested, he's sentenced to five years in jail five years.

Speaker 2

It's a lot. He gets out in less than a year. He moves.

Speaker 3

Apparently, just got picked up last week in Honolulu for the same thing, popping out of his car road rage like it injured a mom and a daughter that were driving behind him, and so he goes to jail in Honolulu. He got the s kicked out of him in jail.

Speaker 1

Good, well, you cannot, especially if that was Is he a white guy? I do may Yes, you're gonna do that in Hawaii.

Speaker 4

Good effing luck.

Speaker 3

He was attacked by several inmates at the Halawa Correctional Facility in Honolulu and again uh in the hospital as res of the Yeah, that's not just road rage. Oh clearly, Yeah you can't. You can't. I understand road rage. I don't understand serial road rage. You have clearly got an issue if something's going on that.

Speaker 2

I love Maderra too, Shannon. I was on my way up to Chico.

Speaker 7

Stop by the.

Speaker 6

Stop on Meg you.

Speaker 1

Now you.

Speaker 2

I'm sorry, Shannon, not to you. This car almost hit me. Anyways, I won twelve hundred bucks on my way.

Speaker 4

Up to Chico.

Speaker 6

I had a good weekend up there.

Speaker 1

Oh my god, that is like I just feel like I looked into a mirror.

Speaker 4

That is so my reaction when I'm driving, like.

Speaker 2

In the safety of the cabin, like I'm super.

Speaker 1

Cool, like I'm having a nice day. I'm talking to it, and then all of a sudden, it's like I'll go from zero to MF for like that.

Speaker 2

How about less hate?

Speaker 6

How about times we love?

Speaker 2

I'm coming through me right now. I love this little kind of cowboy.

Speaker 4

Yeah, great mentone right next to Redlands there, Hello, Gary, Shannon Baker's field is the worst.

Speaker 3

Okay, and Maren County girls have potty mouths.

Speaker 1

Yeah, I learned that from Gary's mom, and.

Speaker 4

So did you.

Speaker 3

Should we share that story? I don't know if we've told that story in a while. We haven't told that in a long time. Okay, well then we'll okay, let's do story time.

Speaker 2

Okay, story time.

Speaker 4

I like music.

Speaker 2

Could you used to come up and reach in the pool? Sorry?

Speaker 6

Leg down?

Speaker 2

Wrong?

Speaker 4

Story time?

Speaker 6

Wrong?

Speaker 2

Story time? All right?

Speaker 3

So there was a day and I used to anchor the news in the morning, and Shannon used to anchor the news in the afternoons here on KFI, and I don't even remember.

Speaker 4

The it's a different time. It was a simpler too.

Speaker 3

It was this very, very simple I don't remember the context of even the message.

Speaker 6

I do.

Speaker 1

I forgot or I read a traffic brought to you by such and such and you texted me and said such and such has an advertised for a year and a half. I was giving you crap for a simple mistake. It wasn't giving me crap. It was correcting something that you should have corrected if you heard it.

Speaker 2

Okay, I was also giving you a little crap for a mistake.

Speaker 4

Oh, I didn't take it that way.

Speaker 1

I just took it as I'm such an idiot, Like why did I say that he's right, I'm wrong.

Speaker 4

That's how I took it.

Speaker 1

But when I responded to that text message, I wrote back something like I'm such an fing.

Speaker 3

It was a very self deprecating message, taking responsibility for the mistake that was made.

Speaker 7

It was.

Speaker 1

With a lot of profanity because I was upset with myself and who lets their mother and I had no idea that grown men let their mothers read their text messages.

Speaker 2

It was a voicemail.

Speaker 1

It was not a voicemail positive positive, It was a text message.

Speaker 3

Well, then that makes me look like a big dummy anyway, because we were driving my mother, I know exactly where we were on I five also, and my phone buzzed like a message had come in, and I saw that it said the word Shannon.

Speaker 2

So I also have a woman that I live with whose name is Shannon.

Speaker 3

And I picked up the phone and basically said, could you like, what is this message? Are we supposed to pick something up on the way home or something like that? My mom said, I'm such a oh.

Speaker 2

Who is this? This? Who this is has a potty mouth?

Speaker 4

And then you threw me right under that rolling bus.

Speaker 2

Well, I didn't want that's.

Speaker 4

Shannon from work. I don't want her to think what was my wife? No, I wouldn't.

Speaker 1

I wouldn't be involved in a relationship with a woman like this.

Speaker 2

Oh what a dirt, dirty mouth hustle.

Speaker 1

Well, he said, that's Shannon from work and your mom's and you said, she is from Nevado.

Speaker 4

She you know, she's from one town over.

Speaker 1

And your mother said, those marine girls and explains it. That explains it. They are potty mouth girls.

Speaker 2

And then she threw my phone out the window.

Speaker 1

And then you invited me to her home where that's all I could think about. She believes that redemption as well. She was perfectly loved. I wanted to give you the I didn't say I almost just said the word just now. I didn't say f one time when I was at your parents house.

Speaker 2

Did I don't know.

Speaker 4

I don't think I did. I don't think I did. I wouldn't. I would not.

Speaker 2

You would have been on your back.

Speaker 4

I was on best behavior, yeah, like best best.

Speaker 2

Yeah, because you need to redeem yourself, all right. Coming back, How.

Speaker 1

What if your wife had texted you something like when you get home, Donnie's style it's on.

Speaker 2

I don't know. I'm not doing that anymore. Oh hot monkey love. Then whatever it is you guys call it. I don't know what you would.

Speaker 1

I just think in the future, maybe don't hand your phone willy nilly to your mom.

Speaker 2

That was probably the first and last time.

Speaker 4

Yeah, and there's a reason on that.

Speaker 2

Yeah.

Speaker 3

Coming back, how cartels are using banks here to launder money?

Speaker 6

You're listening to Gary and Shannon on demand from KFI Am sixty.

Speaker 3

President Trump said he wasn't surprised that Vladimir Putin didn't go to Turkey because Trump didn't go to Turkey.

Speaker 1

Karen Reid's murder retrial is back on her way there in Massachusetts. Yesterday, the jury heard testimony from the fourteen year old niece of John O'Keefe, who lived with him for several years after her parents died. Teenager told jurors the last few weeks of their uncle's relationship with Karen included frequent verbal arguments and increasing tension. Karen Reid accused of hitting him with her SUV after a night of

drinking and leaving him to die in the snow. Her lawyers say she's innocent and is being framed for O'Keefe's murderer at the hands of.

Speaker 4

His cop buddies.

Speaker 3

Sold jud and we've been following, of course, the Yushan did he Combe's federal trial. There's been a new lawsuit file against him while this trial continues. A woman going by Jane Doe.

Speaker 4

Final lawsuit tittsi roll lawsuit.

Speaker 2

Yeah.

Speaker 3

She says that he raped her, but she was relieved when she saw the size of his manhood because quote, she knew it wouldn't hurt. The woman described the two thousand and one attack in Diddy's apartment and claimed that the manhood, according to the lawsuit, appeared to be the size of a TUTSI roll.

Speaker 1

I could not hear any of this and have lived a much better life.

Speaker 2

That's what do you think?

Speaker 7

Hey, Gary, this is Zach from Santa Barbara. Well, actually live in Lompoc now live in Sending as you know, Builton area north of Santa Barbara for like seven years. But I agree with some of these guys. Baker's Field's the worst. But Lombpoke I think takes the cake. He got homeless hopping the fence into your backyard to steal stuff. Literally while you're in your house watching these guys hop the fence into your backyard.

Speaker 5

So I don't know.

Speaker 2

Yeah, thank you.

Speaker 3

That was Yeah, we're gonna get to do the best cities in California if anybody has, Yeah, the best unknown cities.

Speaker 2

How's that little one?

Speaker 4

Oh yeah, that's a good idea everybody likes.

Speaker 1

We're gonna have to get to this missing camper story in the next hour. A woman found alive after being missing in the woods for three weeks in uh, wait for it, Fresno County.

Speaker 2

Uh.

Speaker 3

There is a very well put together article in the Wall Street Journal about the amount of money that is being laundered through banks in the United States.

Speaker 4

It's not shocking at all.

Speaker 3

Well, it's it's a strange the crime bring crime makes strange bedfellows. On the one hand, you've got the Sineloa drug cartel, right, they they are responsible for a lot of drug trafficking all out all throughout North America that brings them the ill gotten money.

Speaker 4

There are also the Chinese.

Speaker 2

The Chinese.

Speaker 3

There are rules about how much money China can buy each year and four in currency. China actually restricts its citizens from buying more than fifty thousand dollars a year in foreign currency, so.

Speaker 4

They buy homes.

Speaker 3

The Chinese have to rely on black market money exchanges to move tens of billions of dollars out of China. Here's where you get some entrepreneur who is interested in joining these two worlds. Ci Jiang is a guy that federal prosecutors alleged is that middleman.

Speaker 4

I like your label as entrepreneur.

Speaker 2

Entrepreneur. He sees a problem and he's there to all fix it.

Speaker 4

Yeah, exactly.

Speaker 3

So what he does is, according to federal prosecutors, takes money.

Speaker 2

I shouldn't say takes.

Speaker 3

He literally buys cash from the Sinaloa cartels, sells that cash. He buys it at a discount, he sells it at a markup to Chinese nationals, and these Chinese nationals then get to go and deposit that in different banks throughout southern California and the rest of the country. And I mean the big ones. These aren't just go to They're not just going to little Credit Union and dropping ten grand.

They're doing eleven, fifteen, twenty thousand dollars at a pop sometimes, which I don't know if they know this, but that raises a red flag. Anytime you deposit or transfer more than ten thousand dollars, a bank has to mark that. That's not necessarily gonna mean that they investigate it every single time you do that, but that they do have to report something of that size to the federal government.

There isdea task force along with local, federal, state level law enforcement that has been investigating this, and for the most part, they say banks themselves are not on the hook for this. Banks themselves are only doing what they're supposed to be doing. There have been a couple of banks that have been popped for not doing more to

secure this. TD Bank, for example, had to pay penalties for what they said were lax internal systems that allowed the money laundering operations in the Flushing neighborhood in Queens, New York. They were allowing more than four hundred and seventy million dollars in illicit cash through the TD branches in New York and Jersey and in Pennsylvania.

Speaker 1

The Supreme Court has heard oral arguments today on the legality of Trump's executive order restricting birthright citizenship, and it looks like the Supreme Court is suggesting it will not allow Trump's ban. We will get into the details and what you need to know when we come back to Gary and Shannon.

Speaker 2

You've been listening to The Gary and Shannon Show.

Speaker 3

You can always hear us live on KFI AM six forty nine am to one pm every Monday through Friday, and any time on demand on the iHeartRadio ap

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