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☆ Trump says his fans didn't just give him $5 million in 48 hours — more than 16,000 people also signed up to become campaign volunteers within 2 days of his indictment
▼ + stars: | 2023-04-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Trump's 2024 campaign said it raised $5 million in the 48 hours after he was indicted, per Axios. More than 16,000 people also signed up to volunteer on Trump's website in the first 24 hours after his indictment, Axios reported, citing Trump's campaign spokesperson. On Friday, Trump's campaign said it raised $4 million in the 24 hours after the indictment announcement. More than a quarter of these contributions came from first-time donors, and the average sum given was $34, the Trump campaign said. In a Sunday message to supporters seen by Insider, Trump's campaign bragged that it had "OUTRAISED THEM ALL!"

☆ Lindsey Graham tried to fundraise for Trump on Fox News hours after the former president was indicted: 'Give the man some money so he can fight!'
▼ + stars: | 2023-03-31 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Lindsey Graham tried to raise funds for Trump's war chest just after the former president was indicted. Graham told Fox News viewers to donate to Trump and "give the man some money" to fight the case. During the interview, Graham also called the New York indictment of Trump "legal voodoo." After Trump falsely predicted that he would get arrested on March 14, the Trump campaign pumped out multiple fundraising emails calling for contributions. The Democratic Governors Association and multiple Democrat PACs have sent out their own donation requests since Trump's indictment, The Times reported.

☆ Fear gauge shows Wall Street's worries about a banking crisis have largely subsided
▼ + stars: | 2023-03-30 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

S & P 500 futures have been up pre-open every day this week and are again up Thursday, but that's not what really sticks out. The most notable facts about the trading action this week is how quiet it has been compared to the prior two weeks. .VIX YTD mountain Wall Street's fear gauge this year Activity in the S & P Bank ETF (KBE) , where normal average volume was one to two million shares a day prior to the banking crisis, saw multiple days with volume over 11 million shares two weeks ago. On Wednesday, a mere 2.7 million shares changed hands, almost back to pre-banking crisis levels. Indeed: the S & P is currently trading for roughly 18 times 2023 earnings estimates.

☆ Republicans are reveling in House Democrats' frustrations with Biden after he withholds veto yet again
▼ + stars: | 2023-03-30 | by ( Nicole Gaudiano | Warren Rojas | ) www.businessinsider.com time to read: +3 min

House Democrats are annoyed with President Joe Biden and Republicans can't get enough of it. In the last month, Biden has twice withheld vetoes on GOP-led bills that most House Democrats opposed – and after the White House signaled that Biden opposed them, too. However, before a Senate vote Wednesday night, the White House put out the word that Biden wouldn't veto the bill. House Republicans' campaign arm on Wednesday is seizing on the schism, including a popcorn emoji in an email highlighting such quotes from House Democrats. "House Democrats remain rip-roaring angry at the White House for once again exposing their extremism to voters," said Will Reinert, of the National Republican Congressional Committee.

☆ The vote on DC's crime law has nothing to do with crime for some House Democrats
▼ + stars: | 2023-03-08 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +5 min

Most House Democrats voted to uphold DC's criminal code revisions to support the District's right to self governance. That's why he was among 173 Democrats who opposed a GOP-led House measure last month to overturn the District's controversial crime law revisions. "The District of Columbia residents and their local leaders should have the ability to make those decisions," Horsford, of Nevada, told Insider. Rep. Jahana Hayes of Connecticut also told Insider the problem for her was, "Congress intervening and overturning a local vote." House Democrats are furious that Biden left them hanging, especially after his administration put out a statement opposing the GOP measure.

☆ GOP Rep. Andy Ogles claimed to fight international sex crimes and be an economic expert. Like George Santos, his real resume tells another story.
▼ + stars: | 2023-02-17 | by ( Katherine Long | Bryan Metzger | Jack Newsham | ) www.businessinsider.com time to read: +14 min

Rep. Andy Ogles (R-TN) claims he's a real estate magnate, policy expert, and sex crime investigator. Ogles' business experience seems to be limited to owning two restaurants, a short-lived travel agency, and becoming licensed as an insurance agent. Ogles' supposed experience rescuing sex trafficking victims helped propel him into national headlines in his first week in Congress. During one debate during his campaign, Ogles described himself as "a former member of law enforcement" who worked "in international sex crimes, specifically child trafficking." Fighting international sex crimes and traffickingWhen discussing his support for a more militarized border with Mexico, Ogles has repeatedly referenced his involvement in combating human trafficking and working to fight international sex crimes.

☆ Biden doubles down on needling Republicans over proposed Social Security and Medicare cuts: 'I'm your nightmare'
▼ + stars: | 2023-02-09 | by ( Kimberly Leonard | Warren Rojas | ) www.businessinsider.com time to read: +11 min

"I guess I shouldn't say any more," he said, "but particularly on Social Security and Medicare." Rubio, who is in the rumored mix for the 2024 GOP nomination, said anybody who supports slashing Social Security or Medicare is delusional. "You have to listen to what the president said the last couple of years about protecting and fighting for Medicare and Social Security." "I've never ever said I would reduce Medicare or Social Security benefits. As for Social Security, its trust funds are expected to be insolvent by 2035, which would trigger 20% in cuts across the board.

☆ Perfect Storm for Some Companies: Fewer Interest Deductions, Rising Rates
▼ + stars: | 2023-02-06 | by ( Mark Maurer | ) www.wsj.com time to read: +9 min

For some firms, the move shrank the amount of taxable income that can be offset by interest expenses. Higher interest rates generally lead to higher interest expenses tied to companies’ variable-rate debt, new borrowings and refinancings. The cap can hit companies’ cash flows immediately, though not necessarily their financial statements, due to timing differences in claiming the deductions. Aluminum maker and recycler Novelis plans to allocate less cash toward its venture-capital arm due to the higher interest expenses. Leveraged loans have variable rates that typically reset every one to three months, based on short-term interest rates.

WASHINGTON — Conservative hard-liners are consolidating power in the narrow new House majority, presenting early challenges for Republicans in swing districts ahead of the 2024 election as Democrats seek to paint the entire party as beholden to extremists. Twenty House GOP hard-liners have set the tone, extracting a series of concessions from Speaker Kevin McCarthy, R-Calif., to change House rules while securing plum committee assignments and winning assurances about advancing their legislative priorities. “If you can’t win independent voters, you can’t win elections.”Democrats are targeting 25 districts to win back the House majority next year, including 18 Republican-held seats that Biden carried in 2020. In the narrow Republican majority, McCarthy has only four votes to spare before he requires Democratic support to pass measures. Lance, the former congressman, argued that renominating former President Donald Trump could cost Republicans the House.

☆ TikTok’s best U.S. charm offensive involves an IPO
▼ + stars: | 2023-01-19 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

But even if proposed fixes get past federal officials – no sure thing – it still must contend with activist state leaders. That’s problematic, given that trust between Chinese and American government officials is at a low. To make matters worse, ByteDance said late last year that some employees had improperly accessed TikTok user data of two journalists. More than 40% of American states, including Wisconsin and Texas, have banned the app on government-owned devices. But if an IPO helps TikTok to keep operating in the United States, it’s worth a try.

But even Democrats acknowledge the issue will give the new GOP-controlled House a fresh line of attack against the White House and may help Trump neutralize or counteract one of the most potent charges against him. And of course, the FBI investigation into classified documents on former Secretary of State Hillary Clinton’s private email server may have sunk her 2016 presidential campaign. Recent polls show most Americans have little interest in Congress investigating Biden and are more likely to trust him over Trump or the new Congress. “I think House Republicans have tied themselves into knots already,” Petkanas added, noting GOP lawmakers have downplayed Trump’s documents. James Comer said Trump’s documents are not 'a priority.’ So how can they with a straight face say that the Biden documents have legs but Trump’s do not?”

US House Majority Leader Steve Scalise, Republican of Louisiana, speaks alongside House Republican Conference Chair Representative Elise Stefanik (L), Republican of New York, as they speak during a press conference on Capitol Hill in Washington, DC, January 10, 2023. House Republican Majority Leader Steve Scalise sidestepped thorny questions Tuesday on whether Congress would allow the U.S. to default on its debt after lawmakers adopted new rules making it more difficult to raise federal limits. It includes the total amount of federal debt outstanding, about $24.5 trillion, as well as the nearly $6.9 trillion the government has borrowed from itself. "America over time occasionally hits the debt ceiling because it's like a credit card limit," Scalise, R-La., said at a press conference in the Capitol building. The last major rift over the debt ceiling was in late 2011, driven by holdout from a newly-elected Republican congressional majority.

Rep. Kevin Brady, R-Texas, said Sunday that Rep.-elect George Santos should consider resigning after he admitted that he fabricated and “embellished” several claims about his background involving his education and work history. Santos, who made LGBTQ political history when he won the November race in New York’s 3rd Congressional District, is set to be sworn in Tuesday when the new Congress begins. During an interview on “Fox News Sunday,” Brady, who is retiring from Congress, said Santos would need to “take some huge steps” to regain public trust. “He certainly is going to have to consider resigning.”However, Brady said, Santos could redeem himself by owning up to his missteps. House Minority Leader Kevin McCarthy, R-Calif., and Rep. Tom Emmer, R-Minn., the outgoing chair of the National Republican Congressional Committee, have ignored questions from reporters about Santos and whether he should be seated.

George Santos, the congressman-elect from New York who's admitted to "embellishing" his résumé, is being investigated by a New York prosecutor. "The numerous fabrications and inconsistencies associated with Congressman-Elect Santos are nothing short of stunning. He said his work included “specialty consulting” for “high net worth individuals.” Santos' company was dissolved in September, which Santos told Semafor was the result of his accountant's turning in late paperwork. In an interview Monday with the New York Post, Santos acknowledged having fabricated details about his background, saying: “My sins here are embellishing my resume. Because I learned my maternal family had a Jewish background I said I was ‘Jew-ish,’” he said.

☆ Jan. 6 transcripts show Trump cronies taking the Fifth. So what?
▼ + stars: | 2022-12-23 | by ( Tracey Maclin | Tracey Maclin Is The Raymond | Miriam Ehrlich Chair In United States Constitutional Law At The University Of Florida Levin College Of Law. | ) www.nbcnews.com time to read: +6 min

If you’re innocent, why are you taking the Fifth Amendment?”This erroneous perspective of the right against compelled self-incrimination forgets a lot of history. She then invoked the Fifth Amendment and refused to answer any questions from members of the committee. They argued that by making an opening statement in which she professed her innocence, Lerner had waived her Fifth Amendment rights. The Fifth Amendment applies in any legal proceeding. Proceeding in this way, protects the Fifth Amendment rights of individuals and gives Congress the information it wants.

But the visit also leaves several key questions unanswered, including how U.S. military support could evolve, whether Congressional support for the war will endure and - crucially - how the war will end. Biden announced that the United States would provide another $1.85 billion in military aid, including a Patriot missile defense system. The United States and its allies have been unwilling to provide other advanced weapons Ukraine has pleaded for. The next steps for Kyiv, the officials added, would be to receive additional air defense systems from the United States and other western countries along with better integrating them. "No more blank checks to Ukraine," Republican Representative Andy Biggs wrote on Twitter hours before Zelenskiy's visit to Washington.

☆ Lauren Boebert and Matt Gaetz stayed sitting and looked at their phones while Congress gave Zelenskyy a standing ovation
▼ + stars: | 2022-12-22 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Reps. Lauren Boebert and Matt Gaetz were seen seated and on their phones through one of them. Both are vocal opponents of US military aid for Ukraine, and want to block future payments. In his speech, Zelenskyy declared "Ukraine is alive and kicking" and touted the strength of the US-Ukraine alliance. Reps. Lauren Boebert and Matt Gaetz stand as lawmakers give Ukrainian President Volodymyr Zelenskyy a standing ovation on Wednesday. The Independent also reported that Boebert and Gaetz skipped a security screening when going to hear Zelenskyy's speech.

☆ George Santos responds to report that accused him of misrepresenting credentials on campaign trail
▼ + stars: | 2022-12-20 | by ( Zoë Richards | Zoë Richards Is The Evening Politics Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

Santos, 34, was elected to represent New York’s 3rd Congressional District, beating Democrat Robert Zimmerman last month. Representatives for Citigroup and Goldman Sachs told NBC New York they had no record of his employment. In a statement Monday, Santos’ lawyer, Joseph Murray, dismissed the story, insisting that Santos was being smeared by "enemies" at the paper, and suggesting that Santos, posed a threat to Democrats. "It is no surprise that Congressman-elect Santos has enemies at the New York Times who are attempting to smear his good name with these defamatory allegations. The upset means Santos will succeed Democrat Tom Suozzi, who lost a primary bid for governor this year.

☆ From nothing to millions — incoming Republican Rep. George Santos' congressional financial disclosures raise more questions about his truthfulness
▼ + stars: | 2022-12-19 | by ( Madison Hall | ) www.businessinsider.com time to read: +4 min

In his first run for Congress two years ago, Republican George Santos disclosed having almost no assets. A new New York Times report revealed several inaccuracies in Santos' reported resume. The Devolder Organization, in which Santos disclosed that he had "100% interest," was one of six stakeholders in a Florida-based firm, Red Strategies USA. Santos' past in questionA newly released report by the New York Times and other publications put other aspects of Santos' resume into question. The New York Times also indicated that Santos may have lied about losing colleagues in the Pulse nightclub shooting and his residence.

News of the FTX's fall first prompted questions to lawmakers about Bankman-Fried's political donations. Bill Cassidy of Louisiana and John Boozman of Arkansas said they would donate Bankman-Fried’s campaign contributions, though they did not specify the charities they intended to donate the money to. Bankman-Fried also poured millions into super PACs that support candidates outside of their campaigns, including the Senate Majority PAC, or SMP, a super PAC supporting Democratic Senate candidates. The disclosed sums likely don't capture the full breadth of Bankman-Fried's political spending. "The candidates who received money from dark money organizations don't really have to answer for it," Sherman said.

☆ A top FTX exec blew the whistle on Sam Bankman-Fried's moves just 2 days before the crypto exchange's collapse
▼ + stars: | 2022-12-15 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

An FTX exec told authorities about potential illegality at the crypto exchange 2 days before its bankruptcy. He worked for Alameda between 2019 and 2021 before joining FTX Digital Markets, the crypto exchange's Bahamas division. Like Democratic Party donor Bankman-Fried, Salame has high-profile political ties: his partner is failed far-right Republican congressional candidate Michelle Bond. Bond's congressional candidate financial disclosure report showed that she received $400,000 in consulting fees from FTX Digital Markets when unsuccessfully campaigning to represent New York's 1st Congressional District. Read more: FTX's Bahamas unit paid co-CEO's MAGA Republican congressional candidate girlfriend $400,000

☆ Marjorie Taylor Greene says a group of Republicans called 'the 5 families' is meeting every week in Kevin McCarthy's office, in an apparent mob reference
▼ + stars: | 2022-12-14 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Rep. Marjorie Taylor Greene said a group of Republican is meeting every week in Kevin McCarthy's office. The meeting is called "the five families," she said, in an apparent mafia reference. Greene made the mob reference while speaking on a Tuesday episode of conspiracy theorist Steve Bannon's show, "The War Room." "And there's a meeting happening every week, and we meet in Kevin McCarthy's office." Representatives for Greene and McCarthy did not immediately respond to Insider's requests for comment sent outside regular business hours.

☆ Ron DeSantis outflanks Trump on the right with his call for Covid vaccine probe
▼ + stars: | 2022-12-13 | by ( Marc Caputo | Marc Caputo Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

Ron DeSantis was positioning himself to get to the right of the former president over the issue of Covid vaccines. DeSantis, who is mulling whether to challenge Trump in the 2024 Republican primary for president, deepened those suspicions Tuesday. That’s his record,” said Roger Stone, a longtime adviser to Trump and an outspoken critic of DeSantis. The poll also showed DeSantis ahead of President Joe Biden in a theoretical general election matchup by 47%-43%, but Biden topped Trump 47%-40%. “So the only option for DeSantis to pose a challenge to Trump is to attack him on the vaccine.

☆ McCarthy's struggle to lock down House Speaker roils GOP caucus, delays key committee assignments
▼ + stars: | 2022-12-07 | by ( Christina Wilkie | ) www.cnbc.com time to read: +8 min

A spokesman for McCarthy did not respond to questions from CNBC about the committee vote schedule. Instead, both sides have dug in over the past week, telling reporters they're ready to take the fight all the way to the House floor on Jan. 3. "Oh yeah, I'll take the speaker's fight to the floor," McCarthy told reporters in the Capitol recently. "The goal was never to embarrass Kevin McCarthy on the [House] floor, no one wants that," she said. It also prompted McCarthy to issue a long statement condemning her prior remarks, which he said "do not represent the values or beliefs of House Republicans."

The answer is simple, according to more than a dozen Washington insiders, FTX employees, and crypto industry observers who spoke with Insider. I don't think anyone believed that he was going to fund candidates who were, quote unquote, committed to ending pandemics who were also hostile to the crypto industry." Alex Wong/Getty ImagesRebuffed by the SEC, Bankman-Fried turned his attention to Congress. "It's not that he was welcoming regulation," says the senior figure in the crypto industry who attended meetings with Bankman-Fried. But while Bankman-Fried was busy wooing Washington, FTX was about to become Exhibit A in the case for more effective oversight of the crypto industry.

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