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Interview with T.E. Scott, Author of The Losing Game: Why You Can’t Beat Wall Street

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T.E. Scott is represented by Pump Up Your Book Promotion, an innovative public relations agency specializing in online book promotion.

T.E. Scott founded and spent 25 years as CEO of Scott Pet Products (scottpet.com), building the enterprise into a multimillion-dollar company in Rockville, Indiana. Before starting that business, Scott spent 32 years working as a baggage handler for Eastern Airlines. When he lost most of his pension after the company went bankrupt in the 1980s, Scott started on the road to exposing the true nature of Wall Street. Thus, his new book, The Losing Game: Why You Can't Beat Wall Street, co-authored with Stephen Edds, was born.

We interviewed Scott to find out about his controversial book and to find out more about his life as a published author.

Thank you for this interview, T.E.  Can you tell us a little about yourself and how long you’ve been writing?

Thank you for the opportunity. I’m a retired entrepreneur and business owner with 30 years of labor experience and 25 years owning a pet-supply manufacturing company which employs over 500 employees. 

Honestly, this is my first book and I’m not much of a writer. However, with the help of Stephen Edds, who is a fantastic writer, we were able to take my thoughts and ideas and put it in print form in my voice.

Can you tell us a little about your latest book, The Losing Game?

In this current financial crisis, I feel The Losing Game is the book you must read to understand why your successful financial future requires not trusting Wall Street!

For decades, average Americans have been held captive in their financial lives by their limited knowledge of and an inherent trust in Wall Street, only to see that trust violated time and time again by a system that rewards greed and corruption.

The Losing Game explains why Wall Street is the largest casino in the United States, except the games are fixed and the house always wins.

We use well-reasoned arguments, unwavering logic, and common-sense insights to give readers a clear understanding of the stock market and commodity markets. We discuss how Wall Street is brilliantly marketed and designed to separate working families from their money without accountability or prosecution.

We describe the psychological war that Wall Street has implemented over the years using propaganda, marketing and the complexity of the market itself to keep us in the dark about where our investment money is going.

The Losing Game: Why You Can't Beat Wall Street shows the bottom-line basics of how Wall Street is scamming Main Street, with Congress and the media as willing accomplices.

In plain-speaking terminology, we present a revolutionary perspective that uncovers the deceptive conditioning of the American worker to place their trust in Wall Street without question.

Would you take your retirement money to Las Vegas to gamble?
Why are you trusting your 401(k) and pension to a corrupt and unregulated market?

The Losing Game is a must-read for hard-working individuals willing to secure their financial future by ignoring the marketing of Wall Street, and by giving them the confidence to take control of their financial future.

What was the inspiration behind your book?  Why did you feel a need to write it?

I kept seeing the little-guys get manipulated by Wall Street, and large publicly traded companies bully around private companies, and thought it was time for someone to expose the true nature of Wall Street. I decided about five years ago to write a book detailing how investing in Wall Street is a minus-sum game, and how Wall Street has marketed themselves as a safe risk for your retirement, as opposed to a rigged casino, which I believe without a doubt it is.

Since I’m not a writer by nature, and since Wall Street is such a complex system by their design, it took a while to get a coherent and easy-to-read version ready to print. With the help of Stephen Edds, who knew how to translate my vision onto the page, we were able to get the book published and released.

What message are you trying to convey with this book?

DON’T trust a corrupt and unregulated system with your money.

DON’T trust the marketing that Wall Street uses to tell you your investments are safe in their hands.

DON’T trust the media and Congress to hold Wall Street truly accountable for their actions.

DON’T believe that Wall Street is anything other than the largest casino in the world…and the games are RIGGED!

DON’T believe that your only alternative is to stuff your money in a mattress.

DO believe you have options outside of Wall Street, and it’s up to you to educate yourself to find out what they are.

How long did it take your book to be published from the time you submitted and was accepted to the time it was finally released?

I worked on the book for about five years before it was released, and it took about three months once it was submitted before it was published. During that time, I was told that the publishing industry worked at a “glacier pace.” I was not very patient, coming from a manufacturing background, but there’s not much we could do to speed up the process.

Can you tell us a little about the publisher who published your book?  How have they been to work with?

We self-published The Losing Game because, after printing a first copy with a POD printer, we weren’t happy with the process and wanted to take control of the process ourselves. We created Hidden Truth Publishing to print and promote the book. My co-author, Stephen Edds, handles the day-to-day operations and helped secure and facilitate the various aspects of getting a book to stores.

Do you blog?  If so, what can you tell my readers about the advantages of blogging as a useful tool in book promotion?

Yes, our blog is on www.thelosinggame.com and is a good place to start. We use blogging to continue to educate the public about the stock market and the issues that are related to the book.

We also utilize social media platforms through Twitter, Facebook and MySpace.

Do you have a website?  Do you manage it yourself or do you have someone run it for you?

Yes, www.thelosinggame.com and Stephen Edds manages it and does all of the blogging and social media. Stephen has been invaluable in helping establish our presence online. I’m not much for computers and the internet, so I let Stephen handle that full-time.

How do you deal with a bad review?

Well, as Stephen Edds pointed out when we were about to release the book, “we didn’t write a book called Puppy Dogs are Cute. We knew the book was going to ignite controversy, especially from those inside the industry. I’ve been pleasantly surprised at the small number of negative reviews we’ve received.

If people want to debate the facts in the book, I would be happy to discuss that with them. It’s part of the education process, and I enjoy a healthy debate. There have been some who dismiss the book because I lost most of my pension at Eastern Airlines, and I’m just “bitter.” I consider that a victory, because it means they can’t debate the book on the merits. I’m not bitter, but what if I was? John Walsh hosted America’s Most Wanted for 20 years because his son was kidnapped and murdered. Does that invalidate his work because he’s angry?

What’s next for you?

My time and passion is devoted to getting the word out to average Americans about the dangers of Wall Street. I did it before The Losing Game was released, and I’ll do it when the book is collecting dust.

Thank you for this interview, T.E.  Do you have any final words you’d like to share with my readers?

There is a so-called “populist uprising” occurring that has gotten the attention of the Obama Administration and the mainstream media. Frankly, if that energy is spent wisely and not wasted on harassing honest people who have made a good living, and harassing Congress into enacting real reforms on Wall Street, then we would have restored at least some trust to the American people about our financial services system.

The Losing Game: Why You Can’t Beat Wall Street is available at all major online outlets, including Amazon.com, and at major bookstores nationwide. If they don’t have it in stock, have them order it for you.

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About Dorothy Thompson

  • http://www.thebookconnectionccm.blogspot.com/ Cheryl Malandrinos

    This sounds like and interesting and controversial book. People will probably be talking about the authors’ idea around water coolers.

    Cheryl