Episode 136

Published on:

28th Apr 2023

Credit Doesn't Matter, Sam Zell is Downgrading Work from Home and the Repo Man

Many critics have blasted new rules from the Biden administration that will force good-credit homebuyers to subsidize the costs of buyers with poor credit. One former Obama housing official is calling out the "unprecedented" move, arguing this is "not the way" to bring in more home buyers. New rules from the Federal Housing Finance Agency (FHFA) will allow consumers with lower credit ratings and less money for a down payment to qualify for better mortgage rates than they otherwise would have. In turn, the costs are expected to be passed on the those with good credit. The rules are set to go into effect May 1.

In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole.

They discuss comments from tech investor Chamath Palihapitiya, who said two years ago that bitcoin had replaced gold and predicted the digital currency would climb to $200,000, who is now saying that "Crypto is dead in America," blaming its demise largely on regulators, who have gotten much more aggressive in their pursuit of bad actors in the industry.

Chris and Saied look at reports that Bed Bath and Beyond has filed for Chapter 11 bankruptcy protection after it failed in several last-ditch efforts to raise enough money to keep the company alive. It had been warning of a potential bankruptcy since early January, when it issued a “going concern” notice that it may not have the cash to cover expenses after a dismal holiday season.

They also offer some thoughts on real estate magnate Sam Zell's assertion that "Remote work is a bunch of bullshit," speaking at a luncheon at NYU’s Schack Institute of Real Estate as part of its annual REIT Symposium.

Join Chris and Saied for this fascinating and informative conversation.


What You’ll Learn in this Show:

  • What is Moody's and why do its ratings matter?
  • Why working from home is here to stay, but it's not for everyone.
  • Why Google CEO’s compensation package includes $6 million for personal security.
  • Why Coinbase's CEO Brian Armstrong says his company is preparing for a years-long court battle with the commission.
  • And so much more...


"Former Obama housing chief slams Biden’s ‘unprecedented’ mortgage plan: ‘Not the way to do it’" (Fox Business)

"Frank's Charlie Javice moved millions from JPMorgan to Signature months before the bank collapsed" (Bloomberg Business)

"More US consumers are falling behind on payments" (Yahoo! Finance)

"Amazon, Microsoft, Meta, Alphabet lead earnings rush: What to know this week" (Yahoo! Finance)

"‘Crypto is dead in America,’ says longtime bitcoin bull Chamath Palihapitiya" (CNBC)

"Meta has started its latest round of layoffs, focusing on technical employees" (CNBC)

"Google’s 80-acre San Jose mega-campus is on hold as company reckons with economic slowdown" (CNBC)

"BuzzFeed News Is Shutting Down, and Vice World News Could Be Next" (The Wall Street Journal)

"Bed Bath & Beyond Files for Bankruptcy" (The Wall Street)

"First Republic Lost $100 Billion in Deposits in Banking Panic" (The Wall Street Journal)

"The Labor Market Might Be Bending; It Isn’t Breaking" (The Wall Street Journal)

"Moody’s Downgrades 11 Regional Banks, Including Zions, U.S. Bank, Western Alliance" (The Wall Street Journal)

"The Repo Man Returns as More Americans Fall Behind on Car Payments" (Bloomberg)

"Remote work is ‘bull***t’ and the ‘office situation will change,’ says real estate billionaire Sam Zell: ‘People need to be together’" (Fortune)

“US existing-home prices fall nearly 1% in March, the biggest drop in a decade” (MarketWatch)

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About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your host; Chris Naghibi is here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

Follow Chris here as he posts daily: https://www.instagram.com/chrisnaghibi

About your host

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Christopher Naghibi

Christopher M. Naghibi is the Founder and Chief Executive Officer of Black Crown Inc. and Black Crown Law APC, a disruptive collective of attorneys, property managers, real estate agents and contractors who handle home sales and purchases, commercial and multifamily real estate brokerage, primarily for high net-worth and celebrity clients.

His team has over 20 years of experience, 1000+ satisfied clients, $10 million in recovered costs for clients, and in excess of $20 billion dollars in closed transactions.

As a licensed attorney, real estate broker, general contractor, and now Top 100 podcast host, Chris aims to provide free financial education that allows people to take control and democratize fear in the financial world.