Native American Speech -- NYC

BROTHERS AND SISTERS. I BRING YOU GREETINGS FROM THE CITY OF ATLANTA, THE STATE OF GEORGIA, AND GREETINGS FROM ALL OF INDIAN COUNTRY. IT IS A PLEASURE TO BE WITH YOU TODAY.

WHEN I WAS ASKED TO SPEAK AT THIS CONFERENCE I TOLD THE ORGANIZERS THAT I HAD A CONFLICT WITH AN ELK HUNTING TRIP TO THE WOLF MOUNTAINS OF MONTANA, THE LAND OF THE CROW INDIAN TRIBE AND THAT IF POSSIBLE WE WOULD HAVE TO REARRANGE OUR SCHEDULE. WELL, WITH A BIT OF LUCK WE’LL STILL MAKE IT TO MONTANA AND THOSE ELK WILL STILL BE THERE LONG AFTER THIS CONFERENCE AND FOR THAT I AM THANKFUL. THERE IS NOTHING LIKE BEING HIGH UP IN ELK COUNTRY TO CLEAR ONE’S THINKING AT ANY TIME OF THE YEAR.

ALLOW ME TO START WITH A LITTLE BACKGROUND ON NATIVE AMERICAN HISTORY . ABORIGINAL INDIGENOUS PEOPLE LIVED ON THIS CONTINENT FOR THOUSANDS OF YEARS PRIOR TO WHAT THE HISTORY BOOKS CALLED THE DISCOVERY OF AMERICA. YET IT WAS COLUMBUS WHO WAS LOST, HOW COULD HISTORIANS SAY WE WERE DISCOVERED? IF IT WERE NOT FOR THE INDIGENOUS PEOPLES THEY WOULD HAVE ALL STARVED, YET THE HISTORY BOOKS IN SCHOOL CALLED US THE “VANISHING AMERICANS”. THE NATIVE PEOPLES MET THE EUROPEANS UPON LANDING. THEY PROVIDED SHELTER AND MAIZE, AND IN RETURN WERE GIVEN SMALLPOX AND MEASLES, SICKNESSES THAT HAD NO IMMUNITY , AND OF COURSE THE BIGGEST SCOURGE WE STILL HAVE TODAY, ALCOHOL, THE FIREWATER OF AMERICA. AT ONE TIME A FEW MILLION INDIGENOUS LIVED ON THIS CONTINENT, TODAY ONLY ABOUT A MILLION NATIVE PEOPLE LIVE ON OR NEAR THE ACREAGE THE US GOVERNMENT SET ASIDE FOR THEM IN THEIR FORCED ASSIMILATION. THE LARGER TRIBES ARE THE CHEROKEE NATION AND THE NAVAJO, THEN MY TRIBE THE CHIPPEWA, FOLLOWED BY THE SIOUX, THE CHOCTAW, THE PUEBLO, AND THE APACHE.

IN 1626, THE ISLAND OF MANHATTAN WAS PURCHASED FROM THE NATIVE INDIANS FOR A MERE $24 WORTH OF TRINKETS. BY 1887, NATIVE AMERICANS STILL CONTROLLED 150 MILLION ACRES OF LAND. TODAY THAT ACREAGE HAS DWINDLED TO ABOUT 50 MILLION ACRES. AS THE WHITE MANS APPETITE FOR LAND BEGAN TO DEVELOP, THE WESTWARD EXPANSION DEVOURED LARGE TRACTS OF OPEN SPACE. THIS EXPANSION TRANSFORMED THE INHABITANTS, ANIMALS, AND OPEN SPACES INTO A NEW SOCIAL, POLITICAL, ECONOMIC, AND ENVIRONMENTAL ORDER. TO BE SURE, NOT MUCH TIME WAS SPENT REALIZING THAT THIS NEW ERA WAS REPLACING A CULTURE AND RACE WHICH HAD INHABITED THE LAND FOR A THOUSAND YEARS. QUITE SIMPLY, THE LAND BECAME AN OBSESSIVE MONSTER WHERE GREED AND POWER DETERMINED THE LIFE OF IT’S INHABITANTS. BY 1934, INDIANS CONTROLLED ONLY 70 MILLIONS ACRES OF THEIR FORMER TERRITORIES.

ABOUT 125 YEARS AGO, INDIANS WERE SLOWLY BEING CORRALLED INTO SPACES NOT MUCH LARGER THAN THEIR FAVORITE HUNTING GROUNDS, THE NATIVE POPULATIONS WERE MASSACRED, RELIGIOUS STRUCTURES LOOTED, AND LEADERS SLAIN.

THE INDIGENOUS PEOPLE HAD THIS CONTINENTS FIRST FREEDOM FIGHTERS. THEY WERE LEADERS AND FIGHTERS FOR THEIR FREEDOM WITH NAMES LIKE TECUMSAH, DULL KNIFE, SITTING BULL, CRAZY HORSE, AND GERONIMO. BUT, WHY IS IT, WHEN THE NATIVE INDIANS KILLED THE ENCROACHING WHITE SETTLERS IN PROTECTION OF THEIR LAND THEY WERE LABELED “RUTHLESS SAVAGES”? I ASK, WHY WAS GEORGE ARMSTRONG CUSTER DEPICTED AS BEING MASSACRED WHILE THE RUTHLESS SLAUGHTER OF CHIEF BIG FOOT AND HIS BAND AT WOUNDED KNEE IS STILL CALLED A BATTLE?

YET, DESPITE MORE THAN FOUR CENTURIES OF ECONOMIC EXPLOITATION, RELIGIOUS INDOCTRINATION, AND SOCIAL UPHEAVAL, THE ABORIGINAL PEOPLE STILL MAINTAIN REMARKABLE ETHNIC COHESION. MANY GROUPS STILL ADHERE TO CERTAIN CUSTOMS AND TRADITIONS THOUGH MANY ARE SLOWLY FADING. ALLOW ME TO GIVE YOU AN EXAMPLE OF RESERVATION HISTORY AND LET ME USE MY RESERVATION, THE WHITE EARTH CHIPPEWA RESERVATION IN NORTHERN MINNESOTA. IN 1867 A TREATY WAS SIGNED BY THE US GOVERNMENT THAT SET ASIDE 837,000 ACRES, TODAY ONLY ABOUT 7% OF THAT LAND IS OWNED BY TRIBAL MEMBERS. THE LAND WAS OWNED BY ALL MEMBERS OF THE TRIBE UNTIL THE EARLY 1900’S WHEN THE FEDERAL GOVERNMENT PASSED THE GENERAL ALLOTMENT ACT, SOMETIMES CALLED THE DAWES ACT, TO SUPPOSEDLY TURN THE NATIVE PEOPLE INTO FARMERS. THE ACT DIVIDED THE RESERVATION INTO 160 ACRE PLOTS FOR EACH TRIBAL MEMBER. AND REMEMBER IN THOSE DAYS MOST TRIBAL MEMBERS COULD NOT READ OR WRITE, NOR UNDERSTAND THE ENGLISH LANGUAGE FOR AT THAT TIME MOST ONLY SPOKE ANISHINABE OR FRENCH , MANY WERE TOTALLY UNAWARE THAT ANYTHING WAS HAPPENING. HUNDREDS OF INDIANS FORFEITED LAND BECAUSE THEY FAILED TO PAY PROPERTY TAXES THEY COULD NOT COMPREHEND. OTHERS WERE DUPED BY SPECULATORS AND TIMBER COMPANIES AND MANY OTHERS, MY GRANDFATHER INCLUDED, WERE ENTICED INTO SIGNING AWAY THEIR LAND HOLDINGS BY OUTSIDERS WHO TOOK ADVANTAGE OF THEM UNDER THE INFLUENCE OF ALCOHOL.

OUR MISSION AS A MONEY MANAGEMENT FIRM IS TO HELP NATIVE AMERICAN TRIBAL ENTITIES HELP THEMSELVES BY GROWING THEIR CAPITAL, TO MAKE LONG TERM GROWTH AVAILABLE FOR OUR CLIENT’S ASSETS. WE CAN’T SEE HOW THE US GOVERNMENT HAS HELPED MUCH. IF YOU GO DOWN TO WASHINGTON DC TO THE NATIONAL ARCHIVES YOU CAN READ THE TREATIES THAT THE UNITED STATES GOVERNMENT SIGNED WITH FOREIGN SOVEREIGN NATIONS LIKE FRANCE AND JAPAN, AND ALSO THE INDIAN TRIBES OF THE AMERICA’S. BUT LET’S TAKE A CLOSER LOOK AT WHAT THESE TREATIES HAVE BEEN ALL ABOUT AND LET’S EXAMINE WHAT THE UNITED STATES GOVERNMENT HAS REALLY DONE FOR THE AMERICAN INDIAN. THERE HAVE BEEN OVER 800 TREATIES SIGNED BETWEEN THE UNITED STATES GOVERNMENT AND INDIAN TRIBES. 430 OF THOSE TREATIES HAVE BEEN TOTALLY IGNORED. OF THE REMAINING 370 OR SO THAT WERE RATIFIED, EVERY LAST ONE HAS BEEN VIOLATED BY THE US GOVERNMENT.

MAYBE WE SHOULD HAVE EXPECTED HOW LONG AFFIRMATIVE ACTION COULD BE EXPECTED TO HOLD UP WITH OUR FRIENDS IN WASHINGTON BY LOOKING AT THE WAY THEY KEEP THEIR WORD.

THE SOVEREIGN TO SOVEREIGN STATUS BETWEEN INDIAN TRIBES AND THE US GOVERNMENT IS THE MOST VALUABLE RIGHT INDIAN TRIBES HOLD TODAY. THOUGH TRIBES CAN NOT PRINT MONEY AND CAN NOT REPRESENT THEMSELVES TO FOREIGNERS WE HAVE THE ABILITY TO MAKE OUR OWN LAWS AND TO HELP OUR PEOPLE. BUT WHAT EXACTLY DOES THIS WORD “SOVEREIGN” MEAN? WHAT DOES IT MEAN TO BE A SOVEREIGN NATION WITHIN THE POLITICAL BOUNDS OF AMERICAN SOCIETY? IT SEEMS LIKE A FORKED TONGUE OF THE GOVERNMENT SPEAKING BECAUSE MAKING HUMAN BEINGS INTO WARDS OF THE GOVERNMENT UNDER TRUSTEESHIP LIKE ON OUR RESERVATIONS TODAY IS A HUMAN RIGHTS VIOLATION OF THE WORST KIND. AFEW YEARS AGO THE SYMPATHETIC AND COOPERATIVE VIEW HELD IN CONGRESS TOWARD AMERICAN INDIANS WAS FOREVER ALTERED WITH THE LAYOFF OF THOUSANDS OF GOVERNMENT EMPLOYEES WHOSE JOBS ARE TO HELP OUR COUNTRY’S FIRST AMERICANS.

THE SEEDS FOR OUR INVESTMENT FIRM WERE SOWN MANY YEARS AGO.

NATIVE AMERICAN ADVISORS, INCORPORATED BECAME A VISION OF MINE IN THE LATE 1980’S WHILE I WAS WORKING AT DREXEL BURNHAM LAMBERT IN LAJOLLA, CALIFORNIA. IT WAS WHAT I CALL THE ABUSE BY THE BUREAU OF INDIAN AFFAIRS THAT LED ME TO BELIEVE THERE SHOULD BE A NATIVE AMERICAN OWNED MONEY-MANAGEMENT FIRM. IT WAS THEN IN THE LATE 80’S THAT THE NAME OF THE FIRM WAS CONCEIVED AND LONG BEFORE I EVER HAD A COMPANY TO ATTACH THE NAME TO. MY BIGGEST SUPPORTER, MY WIFE, LAUGHS AT ME AND SAYS THAT I HAD POORLY TIMED THE START UP OF THE FIRM WITH AFFIRMATIVE ACTION ON THE HOT-SEAT. MY REPLY HAS ALWAYS BEEN THAT MONEY IS GREEN AND HARD WORK AND RESPECTABLE PERFORMANCE WILL SEE US THROUGH. WE ARE NOT A FRONT PROGRAM, I HAD AN OPPORTUNITY TO DO IT ALL ON MY OWN, AND IT IS AN ENTREPRENEURIAL VENTURE. WE MAY BE AN EMERGING FIRM BUT WE’VE PAID OUR DUES ON WALL STREET. IF THERE IS SUCH A THING AS A STANDARD EMERGING FIRM, I’D LIKE TO THINK WE’RE IT!! I LAUGH WHEN I HEAR PEOPLE TALKING ABOUT REVERSE DISCRIMINATION IN AFFIRMATIVE ACTION. I ALWAYS THOUGHT THERE SHOULD BE AN EXCHANGE PROGRAM WHERE THE UPPER CLASS WOULD GO LIVE IN THE HOMELESS SECTION OF TOWN, AND THE HOMELESS WOULD BE ABLE TO LIVE IN THE PENTHOUSES AND THE COUNTRY ESTATES FOR AWHILE. NOW THAT WOULD REALLY BE AFFIRMATIVE ACTION, IF THE CONGRESSMAN SHOULD SWAP STATUS WITH THE DOWN-AND-OUT AND UNEMPLOYED AND LET THE POVERTY STRICKEN GOVERN FOR WHILE. THESE STEPS MIGHT HELP REDRESS SOME OF THE WRONGS IN THE LAND OF THE FREE AND THE HOME OF THE BRAVE BUT IT IS 2006 AND AFFIRMATIVE ACTION WAS STARTED IN THE KENNEDY AND LBJ YEARS WHEN THE SOCIAL CONSCIOUSNESS OF AMERICA WAS EMERGING. I FEEL A QUIET DISCORD IN THE NATION ABOUT AFFIRMATIVE ACTION TODAY, WHY IS IT SO QUIET, LIKE THE SILENCE OF THE LAMBS. WE MUST CONTINUE TO FIGHT THE FIGHT AND HAVE OUR STORIES BE HEARD. AS A MAN, AND TO EVERY MAN AND WOMAN PRESENT TODAY ALL WE ASK IS A LEVEL PLAYING FIELD. A FIELD WHERE WE HAVE AN OPPORTUNITY TO TAKE OUR SHOTS AND TO HELP OUR PEOPLE. WE MUST GO FORWARD AND FIGHT THE FIGHT FOR WE HAVE NOTHING TO LOSE BUT OUR OWN INSECURITY.

SO, SOME PEOPLE ASK, HOW DO NATIVE AMERICAN MONEY MANAGERS COME ABOUT? WHERE DO THEY COME FROM? AND WHERE ARE THEY GOING?

I WAS BORN IN 1953 IN THE LAND OF 10,000 LAKES, THE STATE OF MINNESOTA. I AM A MEMBER OF THE WHITE EARTH BAND OF CHIPPEWA INDIANS. THE CHIPPEWA ARE OFTEN CALLED THE OJIBWAY, IN REALITY THEY CALLED THEMSELVES THE ANISHINABE, MEANING “THE PEOPLE”. REMEMBER THAT THE INDIGENOUS PEOPLE’S OF THE WESTERN HEMISPHERE WERE NEVER KNOWN AS INDIANS OR NATIVE AMERICANS TO EACH OTHER. TO SOME, THE WORD INDIAN IS AN EXPLOITATION WORD ALONG WITH THE OFFICIAL DESIGNATIONS OF THE INDIAN TRIBES. IN GROWING UP ON VARIOUS INDIAN RESERVATIONS IN THE DAKOTA’S AND MONTANA I SAW LIFE IN MANY DIFFERENT PERSPECTIVES. MY FATHER WORKED AS A CRIMINAL INVESTIGATOR FOR THE BUREAU OF INDIAN AFFAIRS AND GROWING UP, WE MOVED OFTEN. ATTENDING 4 HIGH SCHOOLS IN THREE STATES WE LIVED FOR SEVERAL YEARS IN PINE RIDGE, SOUTH DAKOTA, IN SHANNON COUNTY, ONE OF THE POOREST COUNTIES IN THE ENTIRE COUNTRY ACCORDING TO CENSUS DATA. BUT POOR IS RELATIVE. I WAS RICH IN FAMILY AND HEALTH. I GREW UP ON A HORSE, BECAME VERY COMPETENT WITH A RIFLE AND FOUND ATHLETICS A WAY TO RAISE MY THINKING FOR IT WAS ATHLETICS THAT TOOK ME TO THE TOWNS AND CITIES WHERE THE WHITE PEOPLE LIVED, THE TOWNS WHERE INDIANS WERE LOOKED DOWN UPON AS DRUNKEN INDIANS AND LOW-LIFE, LAZY INDIANS, AND INDIANS WHO DON’T PAY TAXES LIKE THE REST OF THE COUNTRY.

IT WAS ALONG WOUNDED KNEE CREEK ON THE PINE RIDGE RESERVATION I SPENT MUCH TIME HUNTING DEER AND COYOTES. IN THE SOLITUDE OF THE ROLLING, PINE COVERED COUNTRY ONLY A MERE 80 YEARS BEFORE IT WAS THE SOUND OF THE HOTCHKISS GUNS, CAREFULLY TRAINED ON A GROUP OF TERRIFIED AND DISARMED CHEYENNE INDIANS THAT MADE ALL THE NOISE. NEVER FORGET IT WAS NOT A BATTLEFIELD AT WOUNDED KNEE LIKE SOME HISTORIANS SUGGEST, IT WAS THE ASSASSINATION OF AN INNOCENT INDIGENOUS GROUP OF PEOPLE BY OUR GOVERNMENT THE SAME GOVERNMENT THAT KILLED CHIEF SITTING BULL TWO MONTHS BEFORE.
THE SAME GOVERNMENT THAT TODAY WANTS TO HOLD THE FLAG OF THE UNITED STATES SACRED WHILE AT THE SAME TIME TRASHING OUR ENVIRONMENT AND POLLUTING OUR WATER.

IT WAS ATHLETICS THAT DELIVERED TO ME THE SOUTH DAKOTA OUTSTANDING INDIAN ATHLETE AWARD, PRESENTED TO ME BY OLYMPIC TRACK CHAMPION BILLY MILLS. AND IT WAS THOSE ATHLETIC SKILLS THAT SENT ME TO THE UNITED STATES MILITARY ACADEMY AT WEST POINT.

THE MILITARY IN THAT ERA DIDN’T FIT WELL, VIETNAM WAS GOING GREAT GUNS AND ATHLETICS AT THAT LEVEL HAD LOST THE ALLURE. THE UNIVERSITY OF MINNESOTA BECKONED AND IN THE NEXT THREE YEARS I TOOK A DEGREE WITH TWO MAJORS. I WORKED HARD IN PUTTING MYSELF THROUGH SCHOOL AND TO DO IT I DID WHAT MY GRANDFATHERS HAD DONE FOR YEARS TO HELP SUPPORT THEIR FAMILIES. FUR PRICES WERE VERY HIGH IN THE 1970’S AND IT WAS THE HARVEST OF MINK, MUSKRAT, FOX, RACCOON AND BEAVER THAT PAID THE BILLS AND KEPT ME CLOSE TO THE EARTH. THERE IS A DISCIPLINE AND RESPECT IN WHAT MOTHER EARTH PROVIDES AND IT WAS THE SUCCESSFUL ANTICIPATION OF BEHAVIORAL AND SENSORY PATTERNS THAT PAID OFF. IN LOOKING BACK SOME OF THAT ANTICIPATION WORKS IN IT’S OWN WAY IN MY WORK IN THE FINANCIAL MARKETS TODAY. TO BE SURE IT WAS A GOOD TIME FOR ME AND THE ABUNDANCE OF WHAT MOTHER EARTH PROVIDES SHOULD ALWAYS BE HELD IN HIGH REGARD.


I BEGAN MY CAREER IN THE SECURITIES BUSINESS IN THE EARLY 80’S WHEN INTEREST RATES WERE SKY HIGH AND NO ONE WOULD TOUCH A STOCK. THE DOW STOOD AT 680 WHEN I ENTERED THE INVESTMENT ARENA. IT WAS OLD-LINE FIRM OF KIDDER PEABODY THAT GAVE ME A SHOT AND SENT ME DOWN TO EXCHANGE PLACE IN THE CANYONS OF LOWER MANHATAN TO LEARN WHAT THE SELL-SIDE OF THE BUSINESS WAS ALL ABOUT. THE BULL MARKET CAME ALIVE AND IN 1984 I JOINED THE GROWING FIRM OF DREXEL BURNHAM LAMBERT. THOSE WERE HEADY DAYS, WITH THE WORLD AWASH IN CASH AND A CERTAIN FEELING THAT THE LEVERAGING OF AMERICA JUST MIGHT BE A GOOD THING.

DREXEL WAS GOOD TO ME. I WORKED HARD. I WAS GOOD TO DREXEL IN 1988 I ESTABLISHED A PERMANENT ENDOWMENT FUND AT THE UNIVERSITY OF MINNESOTA FOR NATIVE AMERICAN STUDENTS TO STUDY BUSINESS. I THOUGHT IT WAS THE RIGHT THING TO DO. TO GIVE SOMETHING BACK. TO BREAK THE CYCLE, FOR EDUCATION IS THE KEY, FOR OUR CHILDREN, AND FOR OUR FUTURE.

DURING THOSE YEARS I GOT LUCKY. I HAD SOME WALL STREET VETERANS TAKE ME UNDER THEIR WING. THEY GAVE ME SHOTS AND I TOOK THE SHOTS. I WANTED TO BE THE CLIENT, BUT I WAS THE ONLY INDIAN CLIENT I COULD FIND AND TO THIS DAY OUR FIRM FEELS THAT A MINIMUM ACCOUNT SIZE IS INCONSISTENT WITH OUR MISSION. WE TRY TO NEVER FORGET WHERE WE HAVE COME FROM, FOR ALL I EVER WANTED WAS A SHOT, A CHANCE. I STILL CONSIDER MYSELF ONE OF THE LUCKIEST GUYS I KNOW.

FOR ABOUT 200 OF THE 550 FEDERALLY RECOGNIZED INDIAN TRIBES IN THIS COUNTRY, THE BUREAU OF INDIAN AFFAIRS HOLDS ABOUT 2 BILLION DOLLARS IN TRUST.

THE MONEY IS SPLIT BETWEEN THE TRIBES AND ABOUT 300,000 INDIVIDUAL INDIAN ACCOUNTS. THE TRIBES AND INDIVIDUALS EARNED THE TRUST FUNDS AS INCOME FROM DEVELOPING THEIR NATURAL RESOURCES OR AS COMPENSATION FOR THE LOSS OF THEIR RESOURCES. VARIOUS TREATIES , LAWS, AND COURT CASES DICTATED THAT EACH OF THESE TRIBE’S FUNDS WOULD BE INVESTED BY THE BUREAU OF INDIAN AFFAIRS. FOR YEARS THE BUREAU OF INDIAN AFFAIRS HAD BOASTED OF THE STABLE INVESTMENT RETURN THAT THE AGENCY PROVIDED TO IT’S INDIAN CLIENTS. I COULDN’T SEE IT AND I DIDN’T BUY IT. WHEN THE BUREAU WAS GOING TO FARM OUT IT’S TRUST RESPONSIBILITIES TO MELLON BANK AND SECURITY PACIFIC BANK THE CLAMOR BECAME LOUD AND CLEAR. THE AGENCY HAD TOTALLY MISMANAGED THE FUNDS. THE ACCOUNTING PROBLEMS MAY NOT BE SETTLED IN THIS CENTURY. THERE WAS EVIDENCE THAT NO ONE HAD MADE ANY EFFORT TO RECONCILE THE BOOKS SINCE ANDREW JACKSON WAS PRESIDENT. MILLIONS OF DOLLARS TURNED UP MISSING.

THE MONEY STILL SITS IN TRUST, MANAGED BY THE BUREAU OF INDIAN AFFAIRS WHICH WAS CREATED IN 1824 AS PART OF THE NOW DEFUNCT WAR DEPARTMENT. IN 1849 THE AGENCY WAS TRANSFERRED TO THE DEPARTMENT OF INTERIOR WHERE IT REMAINS TODAY. OUT OF THE BILLIONS OF DOLLARS THE BUREAU OF INDIAN AFFAIRS HAS INVESTED FOR INDIANS WHERE HAS THE MONEY BEEN INVESTED? THE BUREAU KEEPS THE MONEY IN GOVERNMENT OBLIGATIONS HELPING TO FUND THE GREATEST BUDGET DEFICIT THE WORLD HAS EVER KNOWN. IF THOSE SAME FUNDS HAD BEEN PUT IN PROFESSIONALLY MANAGED EQUITY FUNDS 20 YEARS AGO WHERE DO YOU THINK INDIAN TRIBES MIGHT BE AT TODAY?

IN 1988, ABOUT THE TIME THE GOVERNMENT WAS DISCOVERING THE PROBLEMS WITH INDIAN TRUST FUNDS, THE CABAZON BAND OF MISSION INDIANS IN SOUTHERN CALIFORNIA WENT BEFORE THE SUPREME COURT OF THE UNITED STATES AND WERE TOLD THAT INDEED INDIVIDUAL STATES COULD NOT CURTAIL THE ACTIVITIES OF CERTAIN TRIBES FOR LACK OF JURISDICTION OF WHAT MANY CALL THE NEW SALMON, OR THE NEW BUFFALO. IN INDIAN COUNTRY THEY CALL IT CASINO GAMING.

THAT SAME YEAR CONGRESS PASSED THE INDIAN GAMING REGULATORY ACT. THE FOUNDATION OF THIS ACT IS THE FEDERAL GOVERNMENTS LONG STANDING RECOGNITION OF THE SOVEREIGNTY OF INDIAN NATIONS. THE STATUTE UPHOLDS THE RIGHTS OF TRIBES TO NEGOTIATE GAMING COMPACTS WITH STATES, AND ITS INTENTION IS TO SUPPORT THE EFFORTS OF TRIBES TO STIMULATE ECONOMIC DEVELOPMENT, PROMOTE SELF-SUFFICIENCY, AND STRENGTHEN TRIBAL GOVERNMENTS. INDIAN GAMING WAS CREATED TO PROVIDE TRIBAL GOVERNMENTS WITH A DESPERATELY NEEDED METHOD TO BEGIN REDRESSING THE CENTURIES OF POVERTY, NEGLECT, AND OUTRIGHT ABUSE SUFFERED AT THE HANDS OF THE DOMINANT SOCIETY. THE UNSPOKEN REASON WHY INDIAN GAMING WAS CREATED WAS TO HELP STATE GOVERNMENTS OUT OF THE FINANCIAL CRISIS THEY HAVE GOTTEN THEMSELVES INTO. MANY OF US REALIZE THAT SPENDING IS OUT OF CONTROL AND THE GAMING REVENUE IS ONE OF THE FASTEST WAYS TO RAISE THE REVENUE FOR GAMING IS OUR FASTEST GROWING INDUSTRY. ABOUT 300 TRIBES NOW HAVE SOME FORM OF GAMING. NATIVE AMERICAN LEADERS WHO SEE LONG TERM HARM TO THEIR TRIBES FROM THE GAMBLING ENTERPRISES ARE HARD PRESSED BY THOSE WHO SEE IMMEDIATE BENEFITS WITH NOT MUCH HOPE FOR OTHER REVENUES OUTSIDE OF GAMBLING.

MOST AMERICANS, WHEN THEY THINK OF INDIAN GAMING ONLY CAN THINK OF THE MASHUNTUCKET PEQUOT TRIBE IN CONNECTICUT; BY ANY STANDARD, A PHENOMENAL SUCCESS. BUT THE SAD TRUTH IS THAT THE FIRST AMERICANS ARE STILL THE POOREST IN THE NATION. MANY OF THE BASIC NEEDS THAT MOST AMERICANS TAKE FOR GRANTED ARE STILL UNMET ON THE RESERVATIONS. INDIAN RESERVATIONS DESPERATELY NEED MORE AND BETTER HOUSING, HEALTH CARE FACILITIES, SCHOOLS, AND TRAINING PROGRAMS.

SOME TRIBES HAVE NOT BOUGHT INTO CASINO GAMING. FROM WHERE I STAND, THE JURY IS STILL OUT. THE SOCIAL COSTS CAN BE EXTREMELY HIGH, GAMBLING ADDICTION, ABUSE AND NEGLECT IN THE FAMILY, CRIMES OF THEFT AND EMBEZZLEMENT, AND THE THREAT OF ORGANIZED CRIME IN THE COMMUNITY. A FEW YEARS AGO, ON MY RESERVATION, A 44 COUNT INDICTMENT CAME DOWN AGAINST THE ELECTED TRIBAL OFFICIALS FOR FEDERAL CRIMES. MAYBE WE ARE AT THE TWILIGHT OF INDIAN GAMING AND DON’T EVEN KNOW IT. I AM SCARED FOR THE TRIBAL MEMBERS, THE REAL BENEFICIARIES OF THE MONEY POURING IN. I SEE POOR ACCOUNTING AND FINANCIAL CONTROLS, I SEE A NOTICEABLE LACK OF AUDIT TRAILS, I HEAR OF MONEY DISAPPEARING, AND VERY FEW AUDITED FINANCIALS. AS SOVEREIGN NATIONS THERE ARE SOVEREIGN LAWS.

THE FBI SAYS ORGANIZED CRIME IS NONEXISTENT IN INDIAN COUNTRY. MAYBE THEY SHOULD BE LOOKING A LITTLE CLOSER TO HOME BUT HOME HAS IT’S OWN PROBLEMS OF AIDS, ALCOHOLISM, DIABETES, AND FETAL ALCOHOL SYNDROME.

AT CHIPPEWA PARTNERS OUR JOB IS NOT ONLY ONE OF MONEY MANAGEMENT BUT ALOT OF EDUCATION TOO. I DON’T WANT TO BE CRITICAL OF ANY OF MY PEOPLE, A TENANT I LIVE WITH IS DON’T CRITICIZE UNTIL YOU HAVE WALKED A MILE IN SOMEONE ELSE’S MOCCASINS. TRUST IS HARD TO COME BY IN INDIAN COUNTRY. THE 70’S AND 80’S FOUND MANY TRIBES RICH FROM NEW FOUND WEALTH IN MINERALS AND ENERGY SALES. NOT MUCH IS LEFT. THE SCAMS WERE FAIRLY COMMON. NOT MUCH OF THAT MONEY WAS EVER INVESTED FOR THE LONG HAUL. TRUST HAS TO BE EARNED.

NOW, LET ME TELL YOU WHAT WE DO AND HOW WE DO IT.

WE DO NOT INVEST IN COMMODITIES, FUTURES, ANNUITIES, CURRENCIES, OR DERIVATIVES, PERIOD.

WE ARE GROWTH EQUITY MANAGERS. WE WORK EXTREMELY HARD. WE BRING FOUR THINGS TO THE TABLE THAT MANY TIMES LACK IN BIG ORGANIZATIONS, ENERGY, PASSION, COURAGE, AND INDEPENDENT THINKING. WE HAVE GREAT DISCIPLINE, WE KNOW HOW TO DO THE HOMEWORK. WE KNOW HOW TO DIG AND DIG DEEP. WE PREFER TO INVEST IN GROWTH STOCKS HAVING STRONG EARNINGS ACCELERATION. WE LIKE MANAGEMENT TEAMS THAT ACTUALLY OWN SHARES OF THE COMPANIES THEY RUN AND ARE MORE CONCERNED ABOUT THE STOCK PRICE THAN THEIR NEXT GOLF OUTING ON THE CORPORATE JET. MY LONG TERM RECORD SUGGESTS THAT I SHOULD NOT CHANGE WHAT I AM DOING.

I AM ONE OF THESE GUYS THAT BELIEVES THE 21ST CENTURY STARTED IN 1989 WHEN THE BERLIN WALL CAME DOWN. CHANGE IS CERTAIN. I ALSO BELIEVE YOU SET YOUR GOALS IN LIFE AHEAD OF TIME. MINE INCLUDE BEING A FREE PERSON. FREEDOM IS WHAT THE FIRST AMERICANS REALLY HAD. THE OPPORTUNITIES FOR SUCCESS ARE GREATER NOW THAN EVER BEFORE. DO YOU SEE ANYTHING ABOUT ME THAT SAYS I LACK SELF-ESTEEM? DO I LOOK VICTIMIZED?

IN CLOSING, TO QUOTE ONE OF THE WORLD’S GREATEST INVESTORS, THE QUANTUM FUND’S GEORGE SOROS, “WE NEED THE INSTITUTION’S AND INTERESTS TO LIVE TOGETHER IN PEACE, WE NEED A DEMOCRATIC FORM OF GOVERNMENT THAT ENSURES THE ORDERLY TRANSFER OF POWER, WE NEED A MARKET ECONOMY THAT PROVIDES FEEDBACK AND ALLOWS MISTAKES TO BE CORRECTED AND WE NEED TO PROTECT MINORITIES AND RESPECT MINORITY OPINION.

IF INDIAN PEOPLE HAVE ANY GREAT LESSON TO TEACH AMERICA, IT IS THE ESSENCE OF CULTURAL INTERACTION AND COEXISTENCE, TO BREAK DOWN NEEDLESS AND HARMFUL BOUNDARIES , TO EMPATHIZE, AND TO RESPECT MOTHER EARTH.

I TRULY HOPE THAT IN THE EYES OF OUR GOVERNMENT WE ARE JUST ONE PEOPLE, JUST ONE RACE! FOR AS THE OGALALA LAKOTA SAY, “MITAKU OYASIN” WHICH MEANS WE ARE ALL RELATED. AND IN THE LANGUAGE OF MY PEOPLE, THE ANISHANABE, I SAY "MEGWETCH", WHICH MEANS, “ THANK YOU”.