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Supporters of Trump in Congress have now launched a plan months in the making to discredit federal prosecutors. McCarthy called it a "grave injustice" and said that House Republicans "will hold this brazen weaponization of power accountable." "God bless President Trump." As special counsel Jack Smith was preparing this week to release the indictment, Trump's allies on Capitol Hill were working overtime to prepare the defense of the former president. Jordan issued a series of letters to the Justice Department, demanding documents related to his investigation into Trump's handling of classified records.
Persons: , Donald Trump's, skims, Joe Biden —, Kevin McCarthy, Trump, McCarthy, Biden, Department's, Biden's, Hunter Biden, Jim Jordan of, Andy Biggs, Chuck Schumer, Hakeem Jeffries, Jamie Raskin, Alvin Bragg, Jordan, Jack Smith, Trump's, John Durham, General Merrick Garland, Garland, Steven D'Antuono, Nancy Mace, Donald Trump, James, Republican Sen, Ted Cruz, Cruz's, Mitch McConnell, Mitt Romney, Romney Organizations: Trump, Service, Justice Department, Department, Republican, Republicans, FBI, Twitter, GOP, America, Department of Justice, Democratic, Capitol, Ohio Republican, Washington Field Office, South Carolina, CNN, ABC Locations: Congress, Florida, United States of America, Jim Jordan of Ohio, Arizona, New York, Russia, York, Manhattan, Bragg's New York, Trump's, Lago, Georgia, Washington, Texas, Utah
House Republicans late Wednesday canceled plans to begin contempt of Congress proceedings against Christopher A. Wray, the F.B.I. director, after the agency agreed to make available to all members of the Oversight Committee a document containing a years-old unsubstantiated allegation of bribery against President Biden. The decision was a rare dialing back of a concerted effort by House Republicans to target the federal law enforcement agency as they seek to push accusations of wrongdoing by Mr. Biden. Mr. Wray’s team allowed Representative James Comer, Republican of Kentucky and chairman of the Oversight Committee, and Representative Jamie Raskin of Maryland, the ranking Democrat, to view a redacted copy of the document in a secure area of the Capitol on Monday and briefed them on it for more than an hour. But the F.B.I.
Persons: Christopher A, Wray, Biden, Mr . Biden, Wray’s, James Comer, Jamie Raskin Organizations: Republicans, House Republicans, Republican, Maryland Locations: Kentucky
House Republicans said on Monday that they would move this week to hold the F.B.I. director, Christopher A. Wray, in contempt of Congress, escalating their attacks on the federal law enforcement agency as they grasp for evidence of wrongdoing by President Biden. Representative James R. Comer, the Kentucky Republican who is chairman of the Oversight Committee, made the announcement after summoning F.B.I. officials to Capitol Hill for a closed-door briefing on a document containing an unverified allegation of bribery against Mr. Biden when he was vice president. But Mr. Comer complained afterward that the agency, citing concern about protecting the identity of the informant, declined to allow other members of the committee to view it.
Persons: Christopher A, Wray, Biden, James R, Comer, F.B.I, Mr, Hunter Biden’s, , Wray’s, Jamie Raskin Organizations: Republicans, Kentucky Republican, Capitol, Trump Justice Department, Maryland Locations: Ukraine
Many Democratic lawmakers are unhappy with the debt-ceiling bill that just passed the House. But some of them will vote for the bill anyway because they say a default would be far worse. "The macro alternative is absolutely indigestible," Rep. Jamie Raskin told Politico. On Wednesday night, the House easily passed Biden and McCarthy's Fiscal Responsibility Act with a bipartisan vote of 314-117. Other Democrats feel the same — but fear a default on the nation's debt would be worse than signing the bipartisan debt-ceiling bill into law.
Persons: Jamie Raskin, , Joe Biden's, Kevin McCarthy's, they'll, Biden, Vermont Sen, Bernie Sanders, Politico, Sen, Elizabeth Warren of, she's, Janet Yellen, McCarthy, Alexandria Ocasio, Ro Khanna, Chuck Schumer, Nobody's Organizations: Democratic, Service, Congressional, Office, SNAP, Elizabeth Warren of Massachusetts, Politico, Republicans, Social Security, Medicare, Congressional Progressive Caucus, Caucus, Twitter Locations: Vermont, Alexandria, Cortez
House Republicans refused to raise the debt ceiling unless Democrats agreed to cut spending. Many progressive and moderate Democrats want to repeal the debt ceiling to prevent more brinkmanship. "For many, many, many years, people recognized that Republicans and Democrats worked together to pass a clean debt ceiling. "We need to pass the bill to eliminate the debt ceiling limit." Raskin reiterated an argument that the 14th Amendment could be used to eliminate the debt ceiling.
Persons: , Pramila Jayapal, Kevin McCarthy, Joe Biden, shutdowns, we've, Rep, Teresa Leger Fernández, Jamie Raskin, Raskin, Lincoln, Shri Thanedar, Jayapal, Dan Kildee, Kildee, Jeff Jackson of Organizations: Service, House Republicans, Democrats, Senate, Republicans, Congressional Progressive Caucus, Washington State, Republican, US, Democrat, New, Maryland, Democratic, Rep, Michigan, New Democrat Coalition Locations: New Mexico, United States, California, Denmark, Jeff Jackson of North Carolina
loadingWhile major social media platforms like Facebook, Twitter, and YouTube have made efforts to prohibit and remove deepfakes, their effectiveness at policing such content varies. In total, about 500,000 video and voice deepfakes will be shared on social media sites globally in 2023, DeepMedia estimates. Jon Smith, Republican chair for Michigan's 5th Congressional district, is holding several educational meetings so his allies can learn to use AI for social media and ad generation. Political consultancies are also seeking to harness AI, further muddying the line between real and unreal. Democratic polling and strategy group Honan Strategy Group is meanwhile trying to develop an AI survey bot.
A US default could be days away, and Congress still doesn't have a debt ceiling deal. Some Democrats think Biden should use the 14th Amendment to address the crisis. On Monday evening, McCarthy and Biden met once again to attempt to reach an agreement on raising the debt ceiling and avoiding an unprecedented default. Experts and lawmakers have said that this clause makes a default, and therefore the debt ceiling, unconstitutional, getting rid of the issue forever. Anna Moneymaker/Getty ImagesWhy Biden shouldn't worry about legal challengesNo president has ever invoked the 14th Amendment to address the debt ceiling.
If the US were to breach the debt ceiling, millions of Americans could lose jobs and retirement savings. A breach would also hit Americans in their wallets: A Joint Economic Committee analysis previously found that failure to lift the debt ceiling could cost workers $20,000 in retirement savings. "I think we can solve some of these problems if he understands what we're looking at," McCarthy told reporters on Sunday. Another option that's been gaining steam in Congress is invoking a clause in the 14th Amendment that would declare the debt ceiling unconstitutional, getting rid of the problem forever. But even with potential litigation, some Democratic lawmakers think Biden should do whatever it takes to ensure the US does not default on its debt.
Bernie Sanders joined 10 Democratic colleagues in urging Biden to use the 14th Amendment to address the debt ceiling. The 14th Amendment would declare the debt ceiling unconstitutional, getting rid of it forever. During Thursday remarks vouching for the 14th Amendment, Sanders bashed McCarthy's bill and the potential economic fallout it would cause. "The entire GOP debt ceiling negotiation is a sad charade, and it's exactly what's wrong with Washington. "This is the whole reason why the 14th Amendment exists, and we need to be prepared to use it.
Rep. Jamie Raskin told Insider in an interview that Biden should use the 14th amendment to solve the debt ceiling crisis. The 14th amendment would declare the debt ceiling unconstitutional and get rid of it forever. That would mean that a default, and the debt ceiling causing that default, would be unconstitutional. He told reporters last week that he had been "considering" the 14th amendment, but "the problem is it would have to be litigated." To Raskin, the solution is clear: the 14th amendment "provides the whole structure for resolving the conflict," he said.
Senate Democrats are asking Biden to prepare to use the 14th amendment to solve the debt ceiling crisis. The 14th amendment would allow Biden to bypass Congress and declare the debt ceiling unconstitutional. On Wednesday, The Washington Post first reported that five Democratic senators have spearheaded an effort to urge Biden to invoke a clause in the 14th amendment to address the debt ceiling. Rep. Jamie Raskin, for example, told Insider in a Wednesday interview that the 14th amendment "provides the whole structure for resolving the conflict." He said that he doesn't think the 14th amendment "solves our problem now.
Biking advocates gathered on Capitol Hill on Thursday morning to push for federal legislation. The 74-year-old lawmaker has a short ride to work, but "on a nice morning, you just sometimes keep going," he added. Rep. Earl Blumenauer, an Oregon Democrat, with his bicycle at a congressional bike ride organized by cycling advocacy groups. Romney's comments received significant backlash from biking advocates and others, who pointed out that there's plenty of evidence that better bike infrastructure gets more cyclists on the road, reduces driving, and cuts emissions. "Every person on a bicycle is somebody who's not in a car in front of you," Blumenauer said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUntil depositors feel confident the bank crisis will continue, says Requisite Capital's TalkingtonJosh Brown, Bryn Talkington, Jason Snipe, and Amy Raskin join 'Halftime Report' to discuss Google I/O conference takeaways, top competitors in the A.I race, and Powell's comments on the regional banking crisis.
As you probably know by now, there was another mass shooting last weekend, at an outdoor mall in Allen, Texas. But mass shootings are increasingly part of the background noise of life in a country coming apart at the seams. And so in the wake of mass shootings, when the public is most likely to clamor for gun regulations, Republicans regularly shore up gun access instead. In April, following a school shooting in Nashville, Republicans expelled two young Black Democratic legislators who’d led a gun control protest at the Tennessee Capitol. A few days later, the State Senate passed a bill protecting the gun industry from lawsuits.
Democratic Rep. David Trone announced Thursday that he is jumping into Maryland’s open Senate race, and he signaled that he’s willing to spend his vast personal fortune on his campaign. During a brief interview with NBC News ahead of his announcement, he declined to say how much he is willing to spend on the Senate race. In 2016, Trone lost the Democratic primary to Rep. Jaime Raskin, who is also considered a potential Senate candidate. TIME previously reported that Trone told associates he is willing to spend $50 million of his own money on the Senate race, but Trone declined to directly answer questions about that specific figure. That’s what people are just tired of — politicians that want to be on CNN and MSNBC and talk, talk, talk but not get something accomplished.
Senator Ben Cardin of Maryland, a long-serving Democrat, announced his retirement on Monday, clearing the way for highly competitive primaries to replace him in 2024, especially among Democrats in a deep-blue state. The state’s liberal-leaning voters have not sent a Republican to the U.S. Senate since 1980, and the eight-member congressional delegation includes just one member of the G.O.P. “I have run my last election and will not be on the ballot in 2024, but there is still much work to be done,” Mr. Cardin said in a statement. “During the next two years, I will continue to travel around the state, listening to Marylanders and responding to their needs.”High-profile Maryland Democrats who could be in the mix to replace Mr. Cardin include Representatives Jamie Raskin and David Trone, and Angela Alsobrooks, the executive of Prince George’s County.
Signature Bank's failure took only marginally longer. "The number 36 has just been, you know, branded in my brain," Atlanta Fed President Raphael Bostic told Reuters earlier this month. "I think that any time you have a bank failure like this, bank management clearly failed, supervisors failed and our regulatory system failed," Barr told U.S. lawmakers in a hearing in March. "It's how do we allow a bank whose failure threatened the financial system to persist without being subject to more aggressive intervention?" "One thing for certain ... this was a very significant supervisory failure," Tarullo said at the Peterson Institute for International Economics event on Wednesday.
CNN —The ISIS-K leader who planned the deadly 2021 suicide bombing at the Kabul international airport’s Abbey Gate was killed by the Taliban, according to the National Security Council. Kirby did not specify when the Taliban killed the ISIS-K leader, but called it one in a “series of high-profile leadership losses” that ISIS-K has suffered this year. The terrorist who carried out the suicide bombing, Abdul Rehman Al-Loghri, had been released from prison only days earlier when the Taliban took control of the area. ISIS-K stands for ISIS-Khorasan, the terror organization’s affiliate that is active in Afghanistan and the surrounding region. Taylor Hoover, who was killed in the bombing, told CNN that he was notified by the military Tuesday morning.
On Thursday's "Ask Halftime," our traders answered questions from CNBC Pro subscribers about stocks and ETFs during this period of heightened market volatility, including whether to buy, sell or hold individual companies. Bryn Talkington of Requisite Capital Management discussed Nvidia and Microsoft . She explained why these two stocks are the best ways to invest in artificial intelligence for now. Chevy Chase Trust's Amy Raskin said she sees gold going higher as long as the dollar continues to go down. Finally, Jim Lebenthal of Cerity Partners highlighted industrials and materials as the two top sectors to invest in for the remainder of the year.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAs Inflation comes down, the market will stay around current levels: Chevy Chase's Amy RaskinJosh Brown, Bryn Talkington, Amy Raskin, Jim Lebenthal join 'Halftime Report' to discuss the market response to Q2 earnings, credit tightening in the regional banks, and jobless claim resilience.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch the CNBC 'Halftime Report' investment committee address recession concernsJosh Brown, Bryn Talkington, Amy Raskin, Jim Lebenthal join 'Halftime Report' to discuss the market response to Q2 earnings, credit tightening in the regional banks, and jobless claim resilience.
“We used to brief on a regular basis,” Mr. Sopko said of his prior engagements with the State Department, U.S.A.I.D. and the Pentagon, as he lamented a lack of access of records on what he said was over $8 billion in U.S. aid that had been provided to Afghanistan since the evacuation. “Since SIGAR’s inception, U.S.A.I.D. “We are frequently and regularly working with SIGAR on their requests.”A State Department spokesman said that U.S. reconstruction activities in Afghanistan — the centerpiece of Mr. Sopko’s jurisdiction — ceased after the Taliban took over the government in August 2021. The hearing had been billed as a venue to scrutinize the Biden administration’s actions during the withdrawal, a focus that the panel’s top Democrat, Representative Jamie Raskin of Maryland, criticized as “absurdly narrow.”
But it also gave the fine wine and crypto industry a big boost as panicking investors rushed out of the financial sector and into alternative assets. Bittersweet banking: SVB lent over $4 billion to winery clients since 1994, with over 400 wine industry clients (including wineries, vineyards and vendors) working with the bank’s premium wine division, according to the bank’s website. Recent SEC filings, meanwhile, indicated SVB had about $1.2 billion in outstanding loans to high-end wine clients when the bank collapsed. Circle, the company behind popular stablecoin USDC, said it had about $3.3 billion of its $40 billion in reserves at SVB. The collapse of Signature Bank, a major crypto lender, also had serious implications for the industry.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Deputy Treasury Secretary Sarah Bloom Raskin on the SVB and Signature Bank hearingsFormer Deputy Treasury Secretary and Federal Reserve Board of Governors member Sarah Bloom Raskin explains her expectations for the two-day probe into the failures of Silicon Valley Bank and Signature Bank.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. banking system still seeing elevated stress levels, says former Treasury official Sarah BloomSarah Raskin, former deputy U.S. Treasury Secretary and CNBC contributor, joins CNBC's "Squawk Box" to discuss the stress on the U.S. banking system, and how the Fed may respond.
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