Wall Street Veteran Reveals: The $1T Debt Crisis You Can't Ignore | Ross Mandell DSH #982

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They went to the FTC, the Federal Trade Commission, and all of a sudden, Wall Street was introduced to Main Street.

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All right, guys, got a legend here today, Ross Mandel. What a crazy first-time meeting. You knew the previous guest's father. Isn't that crazy?

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Small world. It's a small world. It's a shock. She was a very good-looking woman. I just thought she was somebody else, and I went there to say hey. And she says, Annabella Rockwell. A shout-out to Thorson Rockwell. Worked for me in the stock market years ago, so that's pretty cool. Yeah, you said you've employed over 100,000 people?

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Well, I wouldn't say 100,000 people, but thousands and thousands, yes. Thousands and thousands of stockbrokers I worked with, or they worked for me, or we worked together and all that stuff. Wow. Yeah, coming up in the 80s on Wall Street, it was like a big thing. And people say, why? What was so crazy about the 80s? Well, prior to about 1980...

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You couldn't cold call, something that everybody's so used to, the phone ringing, hanging up on people, telemarketing, all that. But prior to the 80s, you couldn't sell securities over the telephone. So all of a sudden, a bunch of very aggressive young guys sitting in Lehman Brothers on 55 water said, you know what? I don't want to wait for clients to walk in. They came up with this whole plan.

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They went to the FTC, the Federal Trade Commission, and they got permission and approvals through corporate, through their firm and all that, to co-call securities, telemarket securities. And all of a sudden, Wall Street was introduced to Main Street for the first time in history. And it's created a whole bunch of growth. And that's why when they talk about

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the bull market of the 80s, this is what blew it up because prior to that, you know, you had to be a wealthy guy or an institution and you would make an appointment to see your financial advisor.

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Yeah.

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I've been training some of the most alpha of alpha males on Wall Street. And then, you know, I went to prison. And when I was in prison, I was teaching the stock market, the wealth formula, how to turn an idea, a product, a service into a business. had to go from zero to a million-dollar business. You know, not everybody went to Rutgers. Not everybody went to University of Maryland.

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Not everybody has a Wharton, Stanford, MBA. And kids don't know. I mean, I was in a place where kids never had a... Kids, 30-year-old people, never had a checking account. Never filed a tax return. And all of a sudden, they're not just... Not stupid people. They just grew up in a bad neighborhood. They had no guidance. The streets were all they knew, the neighborhood, etc.

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And, you know, they had no nurturing, no parenting. And so they were sort of off the reservation, if you will. And they would come to me and they'd say, Mr. Mandel, I got a great idea. You know, my wife, my girlfriend, my cousin, my aunt has this, has that. How do we turn that into a business? And like, well, do you know how to incorporate? They're like, what's that?

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I mean, so I created a sort of a one-stop shop program. It's called The Wealth Formula. You can go to RossMandel.com, two S's, two L's. And it actually goes on sale. My partner's Brad Lee in Nevada. Nice. Lightspeed VT, one of the best companies, if not the leading company in this genre anywhere. And we're launching the world formula with 108 page text with about 250 hyperlinks.

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That shows you where the source material comes from. And then 13 modules of video, of beautifully produced video that's very entertaining, that helps walk you through the actual text. Because we all know text can be a little boring. And we live in a sort of a show-me society.

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and uh people want to see video and so i do my best to make an entertaining energetic funny and i litter it with personal experiences along the way i don't just tell you something i tell you how i learned it and i give you an experience i give you a history lesson from what deal it was done in all this and that and it's really incredible comprehensive course nice yeah so i'm very very excited it goes on sale next week

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That's cool. I like when you can take action right away. Yeah, you have to. I'm not a fan of the courses where they just teach you hypothetical situations.

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He was 48. My mother was 39. And... I woke up a day later and found out that everything we owned was mortgaged, borrowed, or leased. The American dream, bro. We own nothing, and we're just living, you know, they were just grinding my parents to pay for a better life for their kids. Can you relate to that, anybody out there? And I became very angry and very bitter.

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I just sort of kind of went nuts. I was like the kind of kid you stayed away from. I went from being a great kid on a wrestling team, the football team, a straight-A student, and I went sort of crazy. Wow. And I was very angry. I was angry at God, and I was angry at circumstances, and I just acted out. I just said, screw it.

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If you could just drop dead like that, what the hell am I towing the line for? I drank, I smoked, I took pills. I had random wild sex with strangers, and I just went nuts, really. Luckily, I had been such a good kid and such a good student I got into all these colleges early. So right away, they pushed me through. And I was in school, and I hooked up with a very aggressive crowd.