Mega Edition: The Downfall Of Jes Staley (9/8/26)

0:00Jess Staley has been an ongoing topic of discussion on this podcast for quite some time. Now I said earlier that I figured he would be out by no later than the end of this year, and if it wasn't for coronavirus, I honestly think Staley would have already been gone. But today we have a new article from the Financial Times talking about how Barclays is reshuffling its top ranks with Jess Staley heading out the door being the top thing they have on their minds. Because they understand that this is not going to be able to go on from much longer, having Jess Staley as the man over there is not going to be sustainable. As this case gets going, the trial of Gila in Maxwell gets cracking, people start talking. Jess Staley's name is bound to be mentioned. And Barclays is trying to get ahead of that right now.

1:00Remember they said, oh yeah, the Jess Staley isn't going out. He's not going to leave. We're not getting rid of Jess Staley. Remember they talked about how people in there were people behind the scenes that were backing him. And I told you it was all BS. Well, it was all BS. This is what happens in the boardroom. These are the sort of games that these people play. They'll tell you one thing, even when they know another thing is coming down the pipe because it's all about protecting that stock price. And I can't, you know, that's the way it goes. That's how it works in those boardrooms. But anybody thinking that Jess Staley was not a proverbial, dead man walking as far as his time at Barclays has not been paying attention. Even Jess Staley with all of his wiggling off of the hook ability has nowhere to go when it comes to this situation. He is against it, right? It is not good for him.

2:00The information that has come out just the little bit of information we know about their relationship is not a good look for Jess Staley. And now we know that in the Virgin Islands, they're looking at all of the financials. And you have to think that the prosecution in New York is also doing the same thing. So Barclays sees the writing on the wall here, folks, and they're starting to prepare for the eventual exit of Jess Staley. Let's jump into this article from the financial times and see what they have to say. This article was authored by Stephen Morris. Headline? Barclays reshuffles top ranks with Jess Staley's succession in mind. Two senior lieutenants, given roles at Investment Bank, putting them in direct competition to replace outgoing chief executive. So they're saying it right here at financial times now. Jess Staley is an outgoing chief executive. He's not somebody that has any staying power.

3:02His time has come. And if it wasn't for this coronavirus outbreak, this pandemic, then Staley would have already been gone in my opinion. Barclays is under assault from inside forces and outside forces over Jess Staley and his role with Jeffrey Epstein. And the heat is obviously becoming way too hot. Barclays has reshuffled its highest ranks as the internal contest to succeed chief executive Jess Staley gathers pace, naming two of his top lieutenants to senior roles overseeing the investment bank. And that's pretty, pretty usual, right? When you're getting ready to have a successor or a situation where somebody who is leaving a job has underlings underneath them, who are going to be vying for the job. You start to see those people get a little bit more responsibility, right? They might come to a couple extra meetings or they might be sitting in with the big boss or whatever it may be.

4:04But you understand when you're in a corporate environment, when the writing is on the wall. And Jess Staley most certainly knows his time is coming. On Wednesday, the British lender named to lib shot its new chief risk officer after the incumbent CS Venk attack Christianin known as Venkett made global head of markets overseeing Barclays trading operations according to a separate internal memo seen by the financial times. So we got to lib shot as the new chief risk officer. After Venkett was made the global head of markets, so you're seeing the shuffling go on, right? You're seeing these voids be filled as they're made. And it looks like Barclays is going to look to replace Staley from an internal method. Not going to go outside and bring somebody else in from abroad or anything like that.

5:07It looks like they're going to stick with somebody that's already at the company, which is probably a good idea, right? A seamless transition, the boards probably familiar with them, etc, etc. And again, remember, during this pandemic, a lot of these financial institutions are, you know, they're very cautious about making changes because the implications that has in regards to their stock prices. So they want as much normalcy as possible. They want stability. And unfortunately for Barclays, that just is not going to occur with Jess Staley. Meanwhile, Paul Compton was promoted to global head of banking, managing the other half of the investment bank, which includes M&A advisory and capital markets. So Paul Compton was also moved on up. And now he's in charge of the global head of banking. And he's, you know, it's big time stuff there, right? Capital markets, M&A advisory.

6:10So, you know, he has a big time role now, Mr. Paul Compton. And I would not be surprised to see either Paul Compton or Venca. That be named the successor within the next couple of months. Mr. Venca, Krishnan and Mr. Compton, both former colleagues of Mr. Staley at JPMorgan in New York, are now on a par as co-presidents of Barclays bank. The unit that houses the group's non-UK consumer operations. So again, look, these guys worked with Staley at JPMorgan. Now, there's no indication that they had anything to do with Jeffrey Epstein's accounts. I would hope that the investigators would look at that as well, right? Anybody who was at JPMorgan during the time that Jeffrey Epstein was banking with them should be looked at very closely.

7:17And their transactions and their accounts should also be looked at very closely. Because we know that Jeffrey Epstein was using these banks to wash this money. And we know that Jeffrey Epstein had a bunch of money parked offshore. So, it's very important that that is looked into, right? That that path of discovery is searched. This sets them up in direct competition and in contest to succeed Mr. Staley, who is preparing to step down in the next few years. Few years, huh? Okay. Again, I have a hard time believing that Mr. Staley is around for a few years. Okay? In fact, I believe that if there's any sort of stabilization in the next couple of months, by the end of the year, we'll see Mr. Staley out and either Venkat or Compton in this role.

8:26Australian-born Mr. Compton, who joined Barclays' chief operating officer in 2016, was seen as the leading internal candidate to succeed Mr. Staley when he was given more responsibility after the former investment bank chief, Tim Thrasby, was fired in March of 2019. So, this has been ongoing for a while, right? Compton has been working his way up the ladder within Barclays' corporate structure. He has been building up his profile. He has taken on more responsibility and he is now in the running to become the man at Barclays. Mr. Venkat's elevation on Wednesday appears to level the playing field. People familiar with the matter said, so now you had Compton who was promoted in 2016, given more responsibility, was being groomed for the position almost, and now you have Venkat getting promoted to this

9:27other position, and he is now also thrusted his hat into the ring for the job. In March, the Financial Times reported that Barclays was preparing to start the search for a new chief executive after Mr. Staley 63 said he privately expects to leave the group by the end of 2021. However, he may opt to stay on longer to guide the bank through the coronavirus crisis, a person close to him said, boy, these guys get all kinds of lifelines all the time, right? Jess Staley should be out on his ass speaking to investigators. Instead, he's using the coronavirus as a life preserver to keep him afloat at work. What a wacky ass year, huh, folks? I swear to God, I swear we must be in some sort of alternate reality. Mr. Staley's controversial championing, championing of the investment bank has been the most closely watched strategic decision of his five-year tenure. It put him at odds with activist investor

10:32Edward Brampson, who started building a stake in Barclays in spring 2018, and has subsequently agitated for the trading unit to be dramatically shrunk and for Mr. Staley to step down. And we all know Edward Brampson on this show now, right? Edward Brampson is the guy who, through Sherborn, owns about 6% of Barclays shares, and he's been pushing hard as hell to get Jess Staley to step down or to be fired over his relationship with Jeffrey Epstein. And as far as Brampson's concerned, Staley is really, really, really bad for business, and not the kind of guy that you want in control of your company and with your money, right? Recently, Mr. Staley received a boost from his strategy as a surgeon earnings from the trading arm of the investment bank helped offset billions in COVID-related loan loss provisions at the retail and credit card arms. Yeah, you know, his earnings from the

11:37trading arm of the investment bank, huh? That means is all the disgusting scus ball trillion errors, billionaires, millionaires who are moving their disgusting money like the Thin Sin files has shown us through these banks have been popping off during coronavirus. That's basically what it says to me. An insider said the promotions were designed for both men to prove their metal and revenue generating roles over the next few years. It is shaping up to be one of the bleakest periods for European banking since the financial crisis as lenders wrestle with the fallout from the coronavirus crisis and the growing dominance of Wall Street in global investment banking. Look, I am not a fan of investment banking anywhere, and that's rather obvious at this point, right? But Wall Street is the home to the biggest crooks in the world, in my opinion, and not everybody on Wall Street, right? And

12:37not everybody in banks. I'm not talking about low level bank tellers or middle management. You're running a banking franchise. You know, you have yourself one bank, you're the manager of, you're not privy to this shit. You're not somebody who's in these board meetings. You're not somebody who's meeting with Jeffrey Epstein to move his money. This is about the people at the very top, just like it's about the people at the very top at the FBI and the CIA, all of these people, all of these people do not care about any of us and it is rather obvious from the way they conduct themselves. Mr. Venkat and Mr. Compton are being officially charged with driving stronger collaboration across the corporate and investment bank. The memo said essentially cross selling more financial products to Barclays roster of international clients. So it looks like they're like they want to diversify here a little bit, right? They want to cross sell some more products. They want to make

13:40sure that they're tapping every single drain at their disposal to make sure they're bringing in every last dollar possible. That's what these banksters do, right? And that's not what I'm talking about. I'm talking about the criminal conduct that takes place at the high levels and inside of the oversight room. To make way for the new Paris elevation, Steven Dantin's role has been downgraded to Deputy Head of Markets and Joe McGrath, who was named Global Head of Banking last year, is being moved to Chairman of Investment Banking. He will continue to oversee asset co-al allocation and chair and client conflict committee of the division according to the memo. So all of this stuff is happening folks, remember, because of Jess Daly and his relationship with Epstein. If Jess Daly never had that relationship with Epstein, he would have an iron,

14:42clad path to keeping this job and steering the ship through the coronavirus pandemic. But he does not have that. What he has is a cloud hanging over his head, a cloud of suspicion over his role with Jeffrey Epstein's criminal enterprise and also as Jeffrey Epstein's money manager. Mr. Staley stood in the memo on Wednesday, these changes I am making to to remits on the executive committee are designed to develop what is an already exceptional senior leadership team as well as adding to the experience of the individuals taking on these new opportunities. So what we're seeing here folks are the two men, Mr. Venkat and Mr. Compton, who will be vying to replace the void left by Jess Staley when he eventually leaves. And again, I can't see it being much longer. We're in October now, today is October 1st. I cannot see it being much longer. I would say by the end

15:49of the year or early 2021 at the latest, the second that they feel like they can stabilize things over the coronavirus pandemic. That's when you can expect Jess Staley to be shown the door. If you'd like to contact me, you can do that at Bobbi Kapuchi at protonmail.com. That's bio, bbycapucci at protonmail.com. All of the links that go with this episode can be found in the description box. All right, everybody, I'll be back later on. I hope you all have a great day. Hello, everyone and welcome to the Jeffrey Epstein show. I'm your host, Bobbi Kapuchi, and this is a morning update. Let's talk a little Jess Staley and Barclay, shall we? There's a report out saying that Jess Staley will not have to worry about sureborn and Bramson during this upcoming vote. And the reason is the Wuhan SARS outbreak and the pandemic that it has caused. Now, we know the

16:54reports that were coming out of Barclays before all of this was Staley was on his way out by 2021. I told you that that timeline was going to be accelerated. And I still believe that timeline is going to be accelerated. Now, I think that what they're doing here and I said it from the beginning of this pandemic is they're going to set Staley up to take the fall. They're going to keep them in now. And then when it's time for heads to roll after this all passes and they see the carnage from the Wuhan SARS outbreak, it's going to be an easy decision for the board to jump on board with sureborn and Bramson and jettison. Jess Staley, I said before all of this started that I didn't think he'd make it through the summer. And I still don't think he's going to make it through the summer. I look for Jess Staley to be voted out the second, the second thing stabilized in the market or at least appear to be stabilized in the market. And there is a concise plan going forward

17:56to deal with COVID-19 financially as an industry with the bankers. Once they get to that point and they feel like there's a bit of stability, he's gone. Jess Staley is finished. There's no way Bramson is not going to keep up the jihad. He wants nothing to do with Jess Staley being part of this board. And from the conversations I've had in the last couple of days with some of my people in the financial sector, they all said the same thing. This man is being set up to be the scapegoat. He's definitely going to get the axe. He was going to get it before the COVID-19 outbreak. And now it's just a matter of when, not if. So we're going to jump into this article and see what the guardian has to say about Jess Staley and the upcoming vote at Barclays. The guardian is the publication. The author is Kalina Makortoff. Headline. Barclays CEO avoids vote against re-election over Epstein ties. Sounds ominous, right?

19:00And they love to do that with the headlines. With the headline, you would think, oh man, they're just giving up. They're not going to vote against Jess Staley to get him out of here. They don't care. But in reality, this is all just a smokescreen. Remember what I tell you folks all the time, we got to read between the lines. When we're reading these articles, we have to read between the lines. What are they trying to say without saying it? And that's the most important part when you're reading articles and you're going through the news because it's not the actual message that they're putting out. It's the message that they're giving you in between the lines. Barclays chief executive Jess Staley will avoid a potentially embarrassing vote against his re-election over his ties to sex offender Jeffrey Epstein. After activist investor Ed Bramson eased up on demands for his removal in light of the COVID-19 outbreak. And again, that is the whole motivation behind this. They know getting rid of their CEO right now in a market that is so unstable will have disastrous results for them. And at the end of the day, let's remember

20:02Barclays all they're worried about is that bottom line. They're not good guys here, right? They're not trying to get rid of Bramson. I get rid of Staley because he's an evil guy and they don't agree with his behavior. No, it's all about optics, right? It's not because Barclays is this this group of people who has this moral standard and Staley, you know, didn't pass it. No, it's just because he was outed and the public knows and it's about optics. So don't take this as if Barclays is some great group. They're not. But the fact of the matter is sometimes an enemy of an enemy is my friend. And if Barclays is going to work towards getting rid of Staley, I'll support that decision. And then I'll go back to you criticizing Barclays as a group directly after they make that decision. But as of now, all I want to see is Staley get the boot. Bramson called for Staley's removal last month. But on Thursday, admitted the bank would need more time to replace the chief executive as it tried to deal with the more pressing challenge posed by the pandemic. And that's just that's basic stuff in the financial sector, right? You want as much stability as

21:06you possibly can. Even if that means that the person who is at the helm might be facing an investigation or two. What you want to do is make sure that the stability of the organization going forward is the most important part of what you have going on. And for that, they need to have some stability through this whole entire thing, right? But once this pandemic passes, wait and see, folks, Staley is so finished. It's not even funny. Bramson is his whole entire motivation here is to get rid of Staley. He understands that with Staley at the helm, Barclays is never going to be as profitable as they would like. And with Sherborn holding so much of the stock, it is important. Obviously for them that this company, this bank is turning a profit. They have investors. They have to answer to as well. And if you were an investor in Sherborn and you know, you see this meeting coming up and you know that Bramson hates Staley and wants to get rid of them as an investor in Sherborn,

22:10you're on board with that, right? You want Staley gone too. You don't want the stink of Jeffrey Epstein anywhere around your money. So it makes sense to get rid of Staley. But if you understand the financial markets and you understand how these things work, they never want to create more instability in a situation that is already unstable. So what you see here is Staley being propped up and being put out as the fall guy. Bramson, who Sherborn investors vehicle owns a stake of more than 5% in Barclays, said he was calling on Barclays shareholders to abstain from the vote, which is due before the bank's annual general meeting on May 7th. It is expected to take place via webcast due to physical distancing rules. Well, I wouldn't mind that if I was part of the group because I wouldn't want to be in a room with any of these people. Let's not cut corners here. We all know the financial sector is filled with snakes and degenerates, right? And I'm sure the Barclays board room is no different. A letter sent by Bramson to Barclays shareholders said, we continue to believe that

23:16Mr. Staley has not demonstrated the level of judgment befitting a director or senior executive of the company. Now remember, that's important because he's letting you know right off the bat that they still don't have confidence in Staley. Again, let's read between the lines. For them, who better to take the fall than just Staley when this is all said and done? However, as a result of engagement with Barclays, and in recognition of the complexity of the management situation presented during the COVID-19 pandemic, we will now, with great reluctance, only withhold our vote for Mr. Staley's reappointment at the 2020 AGM rather than vote against him. Again, folks, I know it sounds bad and you want to be like, oh, god damn, just Staley, don't, don't fall into that trap. This is all posturing just like when I told you the board acted as if they had faith in him and then we started seeing the reports from sources that the board does not have faith in him. It's the same situation here. They're putting him up as the fall guy. Bramson said fellow shareholders should

24:25push the Barclays board for a succession timetable. He added that Staley's eventual departure would bring an end to what has now degenerated into a series of public spectacles and you see from the language here, Bramson is not letting up. But again, the most important thing to Bramson, and I'm not going to say that I'm not going to slam him for this. It's his job to make sure that his shareholders are making money. I agree with how that works or don't agree with it. That's not the point here. The point is his job is to make sure that his people who have bought into his Sherborn vehicle that they're making a profit. And in Bramson's mind and in the mind of just about every speculator I've spoken to with just Staley at the helm, especially after this all comes down and the spotlight goes back on to the Jeffrey Epstein case, there's zero chance that Staley is going to be able to lead Barclays going forward in a profitable manner, especially trying to climb out of this COVID-19 hole. UK regulators are investigating whether Staley was sufficiently transparent about

25:28his relationship with Epstein who died in prison in August 2019 while awaiting trial on charges of trafficking underage girls. Staley, who joined Barclays in 2015, has said he developed a relationship with Epstein in 2000 when he became the boss of JP Morgan's private bank, which counted Epstein among its wealthy customers. Again, I want a complete audit of JP Morgan, Deutsche Bank, all of these banks that were involved with Epstein need to be audited under Rico statutes. Pretty simple, and that goes for just Staley as well. We need to know exactly what Staley and Epstein were up to if there were any deals being made on the side, how many bags of cash were being dropped off, all of it. If it was up to me and I was in charge of this, I would have a team of 50 to 100 friends at Countains going crazy on this case. The Barclays boss said his relationship with Epstein tapered off after he left JP Morgan in 2013. What year was Jeffrey Epstein convicted again?

26:31How can you still hang out with Jeffrey Epstein after a conviction and then get the job as Barclays boss? I'll tell you how, because they really don't care in the financial sector, that's how. He made a final visit to Epstein's private Caribbean island with his wife in the final months of 2015. Again, what sort of scumbag brings their wife to go hang out with a sex offender? I would be mortified to introduce my wife or my girlfriend or my fiance to a sex offender and go hang out on his island. You have all the money in the world. I mean literally, just Staley is so god dang rich that it's not even funny. But yet he's still cavorting with Epstein. He still has to go to Epstein's island to hang out and have a vacation. Bro, buy your own island. Go rent one out. Why are you hanging out with a pedophile? The Epstein investigation comes less than two years after Staley was fined almost 650,000 pounds for attempting to unmask a whistleblower at Barclays in 2016.

27:33Yeah, of course, that's how he rolls. He's just like his boy Epstein. All of these folks deal in intimidation. They all deal in tampering. They all deal in paying off witnesses. It's just their MO. That's how all of these, these sons of bitches operate and it's disgusting to see. Barclays is backing its chief executive officer and said Staley retains the full confidence of the board and is being unanimously recommended for reelection at the AGM. It conducted its own review of Staley's relationship with Epstein and concluded the chief executive had been sufficiently transparent with the company as regards the nature and extent of his relationship with Mr. Epstein. Talk about lip service. Wow, that is nothing more than to prop up the market. That comment there is nothing more than to prop up the market and to make sure that people have some confidence that the leadership isn't going to be rocked at Barclays. In reality,

28:34I think that it's bad for Barclays to even go this route. When all is said and done, I am not going to forget the way Barclays has conducted themselves. How some members of the board still have full confidence in Staley. But now remember, the rumblings and the scuttle butt around the table in the financial sector is the opposite. So I still stick to the belief that by the end of the summer, it may be into the early fall before we see Staley go. There's no way he makes it to 2021 zero chance. The second this pandemic starts to slow down and the second the banking market starts to stabilize even just a little bit. Expect for Bramson to renew his calls and look to get rid of just Staley in a hostile takeover. If you'd like to contact me, you could do that at bobbycapucci at protonmail.com. That's B-O-B-B-Y-C-A-P-U-C-C-I. You can also find me on Twitter

29:35at B-O-B-B-Y underscore C-A-P-U-C-C-I. Also remember on Saturday, I will be joined by Lisa and Jen from the Prince and the Pervert podcast, which is based down in Australia. You certainly do not want to miss that one. All right folks until later on, I hope you all have a fantastic day. What's up everyone and welcome back to the Epstein Chronicles. One of the key figures when we're talking about following the money and talking about how Epstein was able to manipulate the financial system has to be just Staley. This is a man who was uniquely positioned to help Jeffrey Epstein along the way and to not only help him but to offer him other avenues to get rich on. The IPOs that he was offered, the Gratz Hustle, the access to the other

30:39people as far as the wealth fund goes. All of this was made possible by Jess Staley. And for Jess Staley, the relationship with Epstein was huge. Having a guy like that as part of his portfolio, a guy like that that could bring other rich people within the fold. That's what that's way it engulfed the people like Jess Staley and who cares if Jeffrey Epstein is a scumbag? Who cares if he's a convicted human trafficker or a convicted sex offender at that point? Doesn't matter. And then for Jess Staley to leave the position he was in to only land over at Barclays is just beyond the pale. And Barclays will say, well, we had no idea and they knew they thought that this was all over and done with though. They had no idea that Epstein was going to get arrested a second time and that the lid was going to get blown off of this thing once again. So they thought that they

31:41were in the clear. They thought they were never going to have to answer any questions about Jess Staley and his relationship with Epstein. They thought that it was never ever going to come back to Hauntham. Well, guess what? Fast forward to today and that is not a reality is it because not only did it come back to bite them. They had to get rid of Jess Staley because there was no way that they were going to be able to navigate the waters that were coming up with Epstein and his stench dragging them all down. So see you later, Jess Staley and Barclays though, you know, washed their hands clean of it and they'll say, well, we did the right thing. We got rid of them. So, you know, we have nothing to do with any of this. But in reality, how many money longers are moving their money through Barclays? How many other people like Jeffrey Epstein were being helped

32:41by a guy like Jess Staley? My guess is and I can't prove this folks, right? But my guess is a whole hell of a lot of them. And we know that the United States of America, we know that the UK London specifically are used as money washing spots and places to park this dark money. And guys like Jess Staley and, you know, the folks that he rolls with, who would know how to manipulate those systems better? Tonight we have an article from the evening standard that's going to talk a little bit more about Jess Staley. And tomorrow, we'll get to see what Barclays paid Jess Staley on the way out. And I'm sure it's a huge amount of money, right? When it's a guy like Jess Staley, we're talking about, you know, he's not walking out the door for free. But they definitely would be willing to pay him whatever to get that stink off of them. Considering that,

33:43they only got the preliminary results back from the investigation too. And they were able to get this amount of information just from the prelims that was disturbing enough for them to make this decision on just these basic preliminary findings. It has to be a pretty bad report overall. So Jess Staley is basically finished, you would think, right? There's not going to be another institution that wants to pick him up or do business with him or anything like that at this point. At least I wouldn't think so. But who knows in the financial sector, you would think after the first go around with Epstein, he wouldn't have landed on his feet at Barclays, but here we are. Like I said, this is an article from the evening standard. And the author of this article is Simon English. Headline. Barclays poised to reveal what it paid Jess Staley as he left over Epstein's

34:46scandal. The bank annual report is due out tomorrow Wednesday. How much money did Barclays pay to Jess Staley as he exited the bank, owing to some unpleasant business with disgraced financier and sex offender, Jeffrey Epstein? Now that's definitely a huge question. And it'll be, again, it'll be an obscene amount when we find out the actual number. It'll be an amount where you say to yourself, must be nice, must be nice to run around and be a scumbag and be rewarded for it. Imagine being so shitty at your job, somebody was willing to give you millions and millions of dollars to kick rocks and leave. That's basically what's going on here with Jess Staley. Look, bro, you're such a pariah. You're such an embarrassment because of your behavior, because of your friendship with Jeffrey Epstein. That we're going to give you this big fat ass bag of dough and we want you to leave. The bank has results and an annual report out tomorrow. So we'll find out then assuming it doesn't

35:50mysteriously leak before then, of course. And I haven't seen anything about the payout yet. So I'm guessing it hasn't leaked, but maybe it's out there somewhere. Again, tomorrow when we get those annuals, we'll have a better idea. But this guy is, it's just absurd. The whole entire thing is absurd. Why a payoff? Well, I could be wrong, but the wording of the statement at the time strongly suggests that money will have changed hands. Of course, again, this guy isn't walking out of the place and not getting any money. He's not walking out of this huge gigantic job of his and not getting paid. That's just not, that's not reality. Even when these guys do scumbag disgusting activities with other scumbags, they're protected most times by the language in their contracts. And most of these guys, when you're talking about this level of executive,

36:51they have golden parachutes, even when they screw up, even when they act the fool. Barclays and Staley parted company last November after receiving the early conclusions of an investigation by the financial conduct authority into how he had characterized his relationship with Epstein. And again, if if you're getting jettisoned for a fat bag of dough over the prelims in the report, you got to think that that report is just atrocious. And the things that that report's talking about are not going to be a good look for Barclays and especially for just Staley himself. The watchdog thinks he didn't quite tell everything he should. In other words, Staley plans to fight the regulators. Oh, of course he does. Guys like this, their hubris knows no bounds, folks. He's not going to sit back and just let the regulators try and label him or put him in a box as

37:56one of Jeffrey Epstein's friends, even though he is, even all, even though all of the evidence points that way. Barclays said at the time in view of those conclusions and Mr. Staley's intention to contest them, the board and Mr. Staley have agreed that he will step down from his role as group chief executive and as a director of Barclays. So basically what they're saying is you decided you wanted to fight these findings and the regulations. We're not standing beside you. We're not standing up and saying, Hey, look, he has an argument here. There he he has been wronged and they have access to all of this. They're the ones who initiated their own internal investigation as well. So for Jess Staley, it is definitely our McGetan type situation for this dude as far as his career goes at Barclays anyway. It added the board is disappointed at this outcome. Mr. Staley has run the Barclays group successfully since December 2015 with real commitment and skill. Yeah, well,

39:01before that, what was he doing? Oh, that's right. Helping Jeffrey Epstein, pillage money and put money offshore, stash money, look the other way when he knew what the source of Epstein's money is. Obviously, without a real investigation into all of this, forensic accountants and the rest of it, we'll never forget to the bottom of it, but how much more evidence do you need here? It's rather obvious what Jess Staley's operation was when it comes to hanging out with Epstein. What his purpose was. Staley was paid four million pounds in 2020 and nearer six million pounds in 2019. So the guy has already made a killing of the shit ton of money working for Barclays. Never should have had that job in the first place. But somehow people like this always seem to land on their feet, don't they? It's like the bad coaches in football. Like I always say, these retread football coaches. Somehow you have

40:02never had a winning season, but now all of a sudden you're supposed to be a winning coach and you're going to be the guy that leads ever the team to victory. It's the same kind of nonsense here. Jess Staley, while a decent businessman, obviously, and good at what he does, I would guess, that doesn't get rid of the baggage that he brings with him and anybody who was paying attention to what's going on with Jeffrey Epstein and Staley's relationship with Epstein, it's rather obvious that these dudes were way close and that should have set off all kinds of alarm bells at Barclays. Whether the amount paid is purely a contractual obligation or not, it is plainly going to attract headlines. If somehow the amount is zero, what does that say about what else is in the FCA investigation? And that's a big point too. If it's nothing and he doesn't get any money out of this, that would mean that there is something seriously egregious that has been found in this investigation.

41:03And if that's the case, boy, I'll tell you what, Jess Staley is in for an even worse ride than I might have assumed. Because if it's that bad and that egregious, the stuff that is found in this report, he will never, ever work again. Now, obviously, dude has more money than 11O to do with, but he'll never be able to facilitate these scumbags any again, ever again, and I look at that as a bit of a victory at least. The FT reported last year that Staley exchanged 1200 emails with Epstein over four years. Maybe this is just because Staley is a chatty indeed likable guy. Negative, okay? We know that's not the case. I mean, look, you want to give him the benefit of the doubt. And for somebody who doesn't follow the Epstein case or who doesn't follow this whole entire situation, yeah, you could look at it as maybe them just being friends or acquaintances or whatever. But when you dig deeper

42:03and you see all of the different factors that went into their relationship, Staley going to the island to visit all of the rest of it, it's very hard for me to look at it and say, oh, this was just a purely business relationship. And even if it was, this dude was facilitating all kinds of shady ass money moves. Stop talking, mate, was one was sometimes inclined to think. I thought I knew him. Plainly, I did not is what Staley said to me about Epstein at an earlier juncture. Look, guys like Epstein, you don't really ever know guys like Epstein, okay? That's his idea is you're never going to get to know him. You're going to be used as a tool manipulated and positioned in a place that's going to help Epstein with whatever his designs are.

43:11That he stayed in touch with after Epstein had a conviction for sex offenses, doesn't say much for his judgment. Though perhaps he is just as he also once said, accident prone. Yeah, I guess that's it. You know, just an accident prone guy. I had no idea that I was hanging out with Epstein. I just happened to fall into this relationship and I couldn't, you know, extract myself from it. What? The guy is another look, another buffoon and I am not so much anymore, but I used to be so shocked that these people in these such powerful positions are such buffoons. The shame of it is he was very a very good chief executive. Profits tomorrow of perhaps 8 billion pounds will speak to that. At Investek, Ian Gordon headed his latest note on Barclays, harvesting Jess's rich legacy. Last night Sky News reported that Barclays has frozen millions and share awards to Staley while the FCA probe continues, so he's not getting any of this dough

44:16as of right now. And even though he was at the helm and led them to some big gains, he's not going to reap any of those benefits at least right now. Now, we don't know what's going to happen in the future with the report and him challenging all of this. That can all change and he can walk away with a gigantic chunk of change, no doubt about it, but we'll have to see. So it may be that he gets a flat 12 months pay, two and a half million pounds with the rest on hold. He holds he holds shares worth more than 20 million pounds. Plainly Barclays would rather we focus on what it hasn't given Staley at least yet, rather than what it has. Well, that goes without saying. Look, Barclays doesn't need the bad publicity. They don't need people like me talking about this, but unfortunately for them, they hired this idiot. They hired this boob. And it wasn't like he didn't have the stench of Epstein hanging off of them. It wasn't like he was,

45:19you know, somebody who wasn't a known associate, a known enabler of Jeffrey Epstein when they hired him. Neither Barclays nor a representative for Jess Staley had any comment and they definitely won't. That's not in their, they're not in the business of giving comments out when their stories like this on the horizon are stories like this that are breaking, not really interested in speaking to the media. But that's where we're at with Jess Staley folks. And this whole situation with his pay and how much is going to get froze, how much he's going to get very, very interesting because it does give us a bit of a tell on what is in that report. If he comes away with this with nothing, that's definitely a huge sign that this report is going to be all bad for him. Now I don't think that's going to happen. I'm pretty sure he's going to walk away with some money now, probably some, uh, some fozzles frozen

46:19on the back end there and eventually he'll be made whole because these guys always get made whole in the end. But it's nice to see him sweating a little bit right now and at the very least having to answer for his enabling of Jeffrey Epstein at least in this small little way. All right folks, that's going to do it for tonight's update. Come in your way, some context episodes and an episode about the situation in Ukraine right now between Russia and Ukraine. So we have that on the way as well. And tomorrow, right back at it, same old schedule. All right folks, if you'd like to contact me, you can do that at Bobby Kapuchi at protonmail.com. That's B-O-B-B-Y-C-A-P-U-C-C-I at protonmail.com. You can also find me on Twitter at B-O-B-B-Y-U-C-C-I. The link that we discussed can be found in the description box.

47:20All right, everybody, until tomorrow, hope you all have a great night.