Is George Bush Protecting Charles Schwab? (VIDEO)

Was Charles Schwab obsessed over a lost lover? Did he cross legal lines in a jealous pursuit?

(SALEM, Ore.) - The story of one Oregon man's involvement with a former lover of financial mogul Charles Schwab is a sordid tale of money, obsession, and questionable deeds from friends in the highest places.

In this video I interview Wayne Pierce, a retired IBM employee who became involved with a woman who had previously dated Schwab. Pierce says his life was invaded in a number of ways by Schwab and his people, and it all revolved around Schwab's obsession with the woman he attempted to have a relationship with.

To say Schwab is connected to power, is an understatement. The question is, how far are those in power willing to go when wielding their way through life? How much is a government willing to risk in backing up a heartbroken, rogue billionaire? And exactly how much are American taxpayers willing to put up with?

As the man who brought American low cost stock trading, Schwab amassed an amazing fortune and it is a fact that riches equate to power. Pierce alleges that Charles Schwab is guilty of a number of crimes, and that list could have ties to insider trading.

Pierce says he contacted both law enforcement and his political representatives, then he wrote to the New York Stock Exchange and he wrote to the board members of the Charles Schwab Corporation.

Though there was some legal jockeying by Schwab's attorneys, and the FBI did eventually become involved, his case did not go forward as Pierce hoped or imagined it would.

In this video interview Wayne Pierce walks through the story and explains the various things he says he had to put up with, in order to spend time around Schwab's former female interest.

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Comments Leave a comment on this story.

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Chrs Noble July 14, 2009 12:18 pm (Pacific time)

I really like Mr. King's hairdo.

Editor: Thanks!

SicofCapitalism November 18, 2008 6:02 am (Pacific time)

Is Charles Schwab related to Mark Cuban?

Albert Marnell February 9, 2008 1:45 am (Pacific time)

Have you called Michael Moore?

Frank M. February 9, 2008 1:43 am (Pacific time)

I totally believe Wayne Pierce. I have seen his website Aeolusblue.net and find his documentation to be incredible. I hope that people are smart enough to know that if you have real big money in this country, you can get away with anything.....at least for a while....eventually....things come out. I have heard of other instances of complaints about the Charles Schwab Corporation and this story does not surprise me. Lawsuits and complaints against Charles Schwab the corporation are about as common as those against WalMart. I fully believe the allegations against the founding father....no disrespect to the founding fathers intended.

Richard S. October 12, 2007 12:48 pm (Pacific time)

Ann, you have a phone and a computer, so please investigate for us. Thanks!

Ann October 12, 2007 12:09 pm (Pacific time)

It just occurs to me; if anyone has doubts about the validity of this story, why don't you call the Charles Schwab Corporation and tell them you want to just ask Chuck if the story about him on Salem News is true. And if it's not true, what are they doing about this obvious bad publicity? If Bush and the FBI have been involved, as Pierce claims, why not call the White House or the FBI and ask them them same questions. Or ask your congressman to check it out for you. Don't write to them; call their office. Because the claims are probably true, I doubt you'll get a straight answer. But if you do find out what's happening, tell us about it.

Ann October 12, 2007 8:28 am (Pacific time)

At first I was shocked by this story about Charles Schwab, the epitomy of what a talented and hardworking American can achieve. Then I thought about all the blatant corruption in the Bush administration and among our richest corporate leaders, most of whom are greedy men who couldn't care less about us common folks. This story is quite believable and I admire anyone with the guts to go up against Bush and Schwab. If it is true that neither Bush or Schwab are trying to stop Tim King from publishing such a story, then there must have been some real crimes and Bush is obviously protecting his buddy Chuck.

Richard S. October 12, 2007 12:39 am (Pacific time)

Oh, yes, Bush is to blame for everything from sun spots to moon dust. Rich people--especially corporate leaders--are horrible and they're rich only because they've made everyone else poor (that they create jobs is ignored by professional leftists, of course). Oh, and the FBI is obligated to investigate every allegation made by a spurned lover no matter how insignificant the charges are. Even if some of Pierce's allegations against Schwab are correct, why should anyone care? This is a big story only in Pierce's mind and perhaps in King's mind as well. I suspect that Bush, the FBI, the local police, the ACLU, broadcast media, and all others contacted by Pierce are tired of rolling their eyes already.

Sam D October 11, 2007 11:28 pm (Pacific time)

Without knowing anything about the evidence that Tim King and Pierce might have, which they saw was presented to the FBI, some seem very eager to defend Schwab. Tim King has been a journalist for many years and I'm sure he did his homework for a story of this magnitude. Otherwise he and Pierce would both be exposing themselves to a defamation of character lawsuit. I think King's first story was published about a month ago and I think he said he notified Schwab and the FBI about it. This is a courtesy I think to allow them to respond. I haven't heard of anyone being sued. What's interesting here is that people can hear about Schwab's very serious crimes and crimes and instead of empathizing with the victim, they try to defend Schwab by putting down the victim and the reporter. It's obvious that Charles Schwab is suspect of committing some very serious crimes and based upon this story, Bush is protecting him. Knowing what I do about the behavior of our corporate leaders, this is quite feasible.

Richard S. October 11, 2007 8:48 am (Pacific time)

I'll admit to initially defending Charles Schwab (whom I don't personally know, but I do deal with his company) because his reputation has been excellent for decades. He's rich because he took risks that helped all investors, and Mr. Schwab deserves to profit from that. Maybe there's a personal indiscretion here with respect to a one-time girl friend, and maybe not. It's hard for me to believe that Schwab would jeopardize his reputation with low-level insider trading, and I doubt that Schwab's employees who allegedly hacked Pierce's computer at Charles Schwab's request, would remain silent forever. Computer-hacking at the request of the boss would make quite a story for a disgruntled employee, and I'm not ready to believe any of it yet. Pierce's allegation seems to be drawn from a spurned lover's fantasy with Schwab being the bad guy--especially bad because he's one of those evil billionaires who supposedly used his enormous wealth to steal the girl. Digging up evil on the part of "fat cats" could also be a preoccupation with the interviewer here. I'd guess from looking at Mr. King and his 1967, hippie hair style (or that of Veronica Lake from the 1940s) is quite eager to pin something on a nasty capitalist. My assumption regarding Tim King might sound unfair--I know nothing about Mr. King at all--but it's a good guess, right?

Sam D October 9, 2007 10:03 pm (Pacific time)

The comments relative to this story are interesting and reveal our biased perceptions about our heros. Indeed, Charles Schwab is worth some $5.5 billion and is one of the richest men in the US. However, don't we read stories every day about the criminal behavior of these tycoons. Journalist Tim King has obviously investigated what appears to be some serious crimes that include computer hacking, insider trading, false accusations of attempted murder, and lying to the FBI, unless I've missed some others. Lying to the FBI alone is a felony worthy of jail time. But because we have these preconceived ideas about heros like Charles Schwab, our immediate reaction is to defend him. You say this guy must be paranoid and the woman involved must be shady. I agree that it really is unbelievable. However, I am going to wait and see what happens with this. Perhaps Tim King will discover more information to share with us.

James October 8, 2007 11:22 pm (Pacific time)

This guy says he reported Charles Schwab's hacking into his computer, tried to frame him for murder, and was aware of insider trading activities. You say that he's paranoid, hacking is a stretch, and he sounds like a crook? If all this is true, why aren't these accusations coming from the US government who he has accused of a cover-up? Most likely because just like any journalst who wants to stay in business, Tim King did extensive background checking before he published the stories. Especially with those we admire, like Charles Schwab, it is very difficult to believe they could engage in this type illegal activities. If this story did not have merit, it would not be on Google News, for Schwab would have filed a lawsuit against Salem News for defamation of character.

Anne October 7, 2007 3:02 pm (Pacific time)

Is there anything new here since when you reported it in Sept and Aug? Agree with Richard that this gent seems paranoid, and as I commented before, I have a hard time not seeing the lady friend as a bit shady herself in all this.

B, Morgan Texas October 6, 2007 10:12 pm (Pacific time)

He sounds like a crook to me, I'm sure the feds have bigger fish to fry but they should pay attention to what this guy has to say.

Richard S. October 6, 2007 9:33 pm (Pacific time)

Paranoid? The computer hacking accusation is a bit of a stretch. Why would Pres. Bush become involved in such a petty affair anyway? There really isn't anything newsworthy here except for a possible extramarital fling by a wealthy, well-known person. This whole tale is a non-issue even though Pierce continues to beat his dead horse.

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