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Speaker Mike Johnson Faces Looming Battles Over Biden Impeachment, Shutdown

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Speaker Mike Johnson Faces Looming Battles Over Biden Impeachment, Shutdown

In 12 days, Mike Johnson (R-LA) will need to whip out a compromise between House conservatives and Senate Democrats along with RINO republicans in order to keep the government from default, yet again.

Johnson is also going to need to appease the renewed vigor for a Biden impeachment among House Republicans – which we wouldn’t be surprised to see linked to shutdown negotiations.

According to Punchbowl News, Johnson has been keeping his cards close to his vest and hasn’t shared much of his thinking with his leadership team.

The GOP whip operation is not currently in action at all. Remember, when GOP speakers move government funding bills, the majority leader and whip operation typically hold listening sessions and begin to work the vote days — if not weeks — in advance. That hasn’t happened yet.

The House Republican Conference is slated to meet on Tuesday behind closed doors and sources in the speaker, majority leader and majority whip’s office told us that they don’t expect much of an answer on the path forward until after that gathering.

Here are Johnson’s options, per Punchbowl:

1) A ‘clean’ bill would allow federal funding agencies to operate until the middle of January, Johnson’s preference in terms of duration of this latest band-aid. This would be the ‘path of least resistance’ for Johnson.

2) Pairing an extension with H.R. 2, the GOP immigration bill which would strengthen the US-Mexico border. That said, H.R. 2 is broad, and has provisions that most senators will reject. Senate Republicans, meanwhile, say they’re working on a separate border plan which they insist won’t amount to a conservative wish list, and which they’ll seek to attach to the national-security supplemental funding bill. House Republicans could also cherry pick aspects of H.R. 2.

That said, if Johnson and crew attempt to slash federal spending in relation to a two-month stopgap, they’re gonna have a bad time.

3) A ‘laddered approach’ – pushed by Rep. Andy Harris (R-MD), which would extend government funding for each agency for different periods of time. This has exactly zero support in the Senate.

Impeachment?

While Democrats impeached Trump for simply asking Ukraine about obvious (and increasingly evidenced) Biden corruption, and then impeached him again over Jan. 6 (using a MSM producer to choreograph the ‘show’), Republicans are spinning their wheels over Biden, because they suck at this.

Johnson has cautioned over rushing an investigation, calling impeachment the “heaviest power that we have.”

That said, as a prominent member of the House Judiciary Committee, Johnson insisted that bribery is “what happened here.”

The White House has vigorously denied any wrongdoing by Biden and noted that even as Republicans have pored over the business dealings of his brother and son, they’ve failed to connect the president to their work overseas.

But as Johnson takes the helm from a former Speaker who at times seemed reluctant to pursue the matter, he said last week the House would soon have to determine how to move forward with an investigation shared across three committees. –The Hill

“I do believe that very soon we are coming to a point of decision on it,” Johnson said on Thursday.

“I have been very consistent, intellectually consistent in this, and persistent that we have to follow due process, and we have to follow the law,” he continued. “That means following our obligation on the Constitution and doing appropriate investigations in the right way at the right pace, so that the evidence comes in, and we follow the evidence where it leads. You follow the truth where it leads.

We’ve not predetermined the outcome of this. We’ve not prejudged it,” Johnson said. “But I think everyone can see how it is unfolding.”

The underlying allegation stems from when Biden was Vice President and threatened Ukraine’s former president with a quid-pro-quo to withhold US foreign aid unless they fired the prosecutor investigating Hunter Biden’s employer.

“The president bribed or pressured a foreign leader to fire that country’s top prosecutor because the prosecutor was investigating his son, and he used $1 billion of U.S. taxpayer money to have that bidding done, and then he bragged about it on video,” Johnson said on Fox News in August.

According to Rep. James Comer, it’s up to Johnson.

 

Tyler Durden
Mon, 11/06/2023 – 18:00

Elon Musk’s Free Speech Stance Is “Dangerous”, Columbia Journalism Fellow Warns

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Elon Musk’s Free Speech Stance Is “Dangerous”, Columbia Journalism Fellow Warns

Authored by Matt Lamb via TheCollegeFix.com,

A Columbia University journalism fellow said Elon Musk’s support for free speech on X, formerly known as Twitter, is both “immoral” and “dangerous.”

Anika Navaroli used to work on Twitter’s “Trust and Safety Team,” the unit within the company that censored information, oftentimes true. Musk eliminated the team. She now is a senior fellow at Columbia’s Tow Center for Digital Journalism.

“What has now become clear is that Musk’s vision of speech on X is one of the greatest dangers to democracy, especially leading into the 2024 elections,” Navaroli (pictured) wrote on Thursday in The Hill.

She praised workers like herself for “thanklessly” working behind the scenes to defend “institutions.”

Navoli and her co-workers, in her telling, “were one of the last defenses to American democracy leading up to the Jan. 6, 2021 mob attack on Congress” which “led ultimately to our deplatforming former President Donald Trump.”

She wrote:

Much like poll workers, social media trust and safety workers toil thanklessly and behind the scenes for years to protect the safety and integrity of our most vital democratic institutions. Rather than invest in that crucial work, Musk took a page out of Trump’s playbook, repeatedly and publicly attacking trust and safety workers. He unleashed the Twitter Files, which revealed the names, images, and contact information of former Twitter trust and safety employees.

The journalism fellow said speech is “evolving,” “complicated,” and “sticky.”

“It requires tradeoffs, flexibility, and tough decisions. It shouldn’t be dictated by an autocratic CEO with absolutist ideologies,” Navoli wrote, repeating prior statements she has made on the subject.

“Instead of asking just free speech versus safety to say free speech for whom and public safety for whom,” she previously said during a Congressional hearing.

“So whose free expression are we protecting at the expense of whose safety and whose safety are we willing to allow to go the winds so that people can speak freely.”

She is correct in that our conceptions of speech are complicated – I do not think there is some broad First Amendment right for the authors of pornographic books targeting kids to have their works in libraries.

Nor are men cross-dressing and scandalizing kids equal to the concerned parent speaking out at a school board meeting about sexualized curriculum  in terms of the First Amendment. (Neither does the Biden administration, which favors the former but not the latter).

But I don’t think it is “complicated” that there was true and verified information about Hunter Biden’s laptop that the Twitter team censored.

Navoli’s fears are just the latest that began more than a year ago, prior to Musk’s completion of his purchase of the platform in October 2022.

For example, a Vanderbilt law professor said the purchase was “deeply troubling.”

University of California Berkeley Professor Robert Reich also believes Musk’s support for open debate on social media is a threat to “democracy,” calling it “the dream of every dictator, strongman, demagogue and modern-day robber baron on Earth.”

“In Musk’s vision of Twitter and the internet, he’d be the wizard behind the curtain – projecting on the world’s screen a fake image of a brave new world empowering everyone,” President Bill Clinton’s former Labor Secretary wrote.

X is still plagued with throttling problems, as The College Fix has seen. But overall the platform has improved and truthful speech (i.e. on gender) is better respected.

That is a good thing and not complicated at all.

Tyler Durden
Mon, 11/06/2023 – 17:40

Woke Wikipedia Editors Fight Over Matt Taibbi (Et. Al) $100,000 National Journalism Award

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Woke Wikipedia Editors Fight Over Matt Taibbi (Et. Al) $100,000 National Journalism Award

After journalists Matt Taibbi, Bari Weiss and Michael Shellenberger won a $100,000 award from the National Journalism Center / DAO for excellence in investigative journalism regarding the Twitter Files, WikiPedia editors threw a fit – with one, who goes by “Specifico”, removing all mention of the award until other editors were in ‘consensus for inclusion.’

First, from Taibbi’s acceptance speech:

More than two dozen reporters worked on the Twitter Files at different times, including Lee Fang, Paul Thacker, David Zweig, Aaron Maté, Matt Farwell, and many others, across the political spectrum. Journalists from left-leaning publications and reporters with conservative backgrounds both worked on this story, which was unique enough to employ pseudonymous citizen journalists like “Techno Fog” and Pulitzer Prize winner Susan Schmidt. Susan is here tonight, and has a new Twitter Files piece coming out on Twitter and Racket in the coming days.

This was apparently too much for Wikipedia – which has been the de-facto leftist ministry of bullshit for years.

An editor who goes by “SPECIFICO” took it upon themselves to nuke the DAO award from Taibbi’s profile, writing “I reverted the addition of this item. PPlease see the reason im my edit summary. It should not be re-added prior to consensus for inclusion.”

Another editor replied: “I am curious. How does one determine that an award is not “credible”?”

Specifico, as it were, is a total weirdo. Shocker, we know.

Fortunately, less-woke minds prevailed, and the award is now visible on Taibbi’s page.

 

Tyler Durden
Mon, 11/06/2023 – 17:20

“The Big Fail” – Anti-Lockdown Goes Mainstream

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“The Big Fail” – Anti-Lockdown Goes Mainstream

Authored by Jeffrey Tucker via The Brownstone Institute,

It’s a shift worth marking. 

New York Magazine is featuring an article called “COVID Lockdowns Were a Giant Experiment. It Was a Failure.” The authors are two excellent journalists, Joe Nocera and Bethany McLean, who have also written a new book called The Big Fail, which I have not read but intend to.

The ascent of the book and thesis is hugely important, if only to further blunt the impact of Michael Lewis’s The Premonition, which came out in 2021 with the purpose of valorizing the absolute worst of the lockdowners. 

The worry at the time was that Lewis’s book, like The Big Short, would become a major movie that would codify lockdowns as the right way to deal with infectious disease. That does not seem to be happening, and the cleverly titled book by Nocera and McLean seems to assure that this will never happen. Thank goodness. This is progress. Be grateful when we see it. It is also a tremendous credit to all those who have been pushing the Nocera/McLean thesis since the spring of 2020. 

Lockdowns were always an impossible means of pandemic management. We knew that from a century ago. It was not even controversial. The orthodoxy in public health survived even up to a few weeks before the lockdowns began.

Out of nowhere, settled wisdom was completely upended. Suddenly, as if straight from Orwell, lockdowns became “common sense mitigation measures.”

Meanwhile this country and most other countries around the world were being utterly tortured by a crazed bureaucracy determined to master the microbial kingdom by bullying people and wrecking their businesses, schools, churches, and lives. 

If nothing else, this era proves for this generation the astonishing capacity of the human mind to undertake utterly insane policy experiments on a grand scale without the slightest evidence that they could ever succeed, even while they trample on all established norms of rights and liberties. 

This is a revelation, at least to me. We’ve never seen anything like it in our lives.

Speaking personally, this reality utterly shattered a worldview that I didn’t know I held: namely, I genuinely believed humanity was on a path, even an inevitable one, toward greater knowledge, learning, and the embrace of freedom. After March 2020, I and everyone discovered otherwise. That was both intellectually and psychologically traumatic for me and for millions of others. 

We are still figuring out how and why all this happened. In order to do that, we at least need a consensus that this was a terrible mistake. Even three and a half years later, we haven’t even had that. To be sure, it is very difficult to find defenders of lockdowns. They have mostly evaporated into the hedges. Even those who pulled the trigger and defended them at the time are all denying that they had anything to do with them. My favorite: we never had a real lockdown. 

Regardless, the mere appearance of the Nocera/McLean article takes us quite a distance to where we need to be at least for now. Yes, it is 42 months late, but we take progress wherever we can find it. 

Just some quotes from the article:

“One of the great mysteries of the pandemic is why so many countries followed China’s example. In the U.S. and the U.K. especially, lockdowns went from being regarded as something that only an authoritarian government would attempt to an example of “following the science.” But there was never any science behind lockdowns — not a single study had ever been undertaken to measure their efficacy in stopping a pandemic. When you got right down to it, lockdowns were little more than a giant experiment.”

“Unfortunately, there is no shortage of policy failures of which to take stock. We do an accounting of many of them in our new book, The Big Fail. But one that looms as large as any, and remains in need of a full reckoning in the public conversation, is the decision to embrace lockdowns. While it is reasonable to think of that policy (in all its many forms, across different sectors of society and the 50 states) as an on-the-fly experiment, doing so demands that we come to a conclusion about the results. For all kinds of reasons, including the country’s deep political divisions, the complexity of the problem, and COVID’s dire human toll, that has been slow to happen. But it’s time to be clear about the fact that lockdowns for any purpose other than keeping hospitals from being overrun in the short term were a mistake that should not be repeated. While this is not a definitive accounting of how the damage from lockdowns outweighed the benefits, it is at least an attempt to nudge that conversation forward as the U.S. hopefully begins to recenter public-health best practices on something closer to the vision put forward by [Donald] Henderson.”

You will notice the hedge here: “for any purpose other than keeping hospitals from being overrun.” Another way to put it: lockdowns are fine for rationing healthcare. There is reason to emphatically disagree. Hospitals wildly exaggerated how overrun they were. There were two hospitals in New York boroughs that had high traffic, but this was due to exigencies of ambulance contracts. The rest were largely empty as they were around the country. This was due to lockdowns that restricted medical services to Covid only even in places where there was no community spread, plus public fear of leaving the home. 

(I had a conversation last week with the head of a company that sells ventilators and diagnostic equipment to hospitals in New York. He said that in the early months of lockdown, he had never seen hospitals so empty. This was confirmation to me of what we already knew.)

This whole subject needs some serious unpacking. To my knowledge, we still don’t know where the edicts came from to lock down hospitals all over the country. That is a research project all its own. In other words, carving out an exception for “overrun” hospitals is deeply dangerous: it only incentivizes the lockdowners next time to game the reporting in a way that is favorable to more lockdowns. This is precisely what happened in the UK, where the main and even only justification for lockdowns was the rationing of healthcare services. 

So this proviso is actually dangerous in every way. 

Now we must deal with another piece of this article that is far from correct. I quote:

“As the United States gains more and more distance from the COVID pandemic, the perspective on what worked, and what did not, becomes not only more clear, but more stark. Operation Warp Speed stands out as a remarkable policy success. And once the vaccines became available, most states did a good job of quickly getting them to the most vulnerable, especially elderly nursing-home residents.”

The perspective is what we might be called the exogenous theory of the jab. The idea is that the lockdowns and masking and the whole apparatus of disease control exists in a separate system of ideological confusion, whereas the vaccine came from the outside to intervene but otherwise was not part of the planning apparatus. 

I certainly once shared this view. About the vaccine in 2020, rumored to come along at any point, I care next to nothing about it. I assumed it would be useless because my reading on the topic showed that a coronavirus is in the class of pathogens against which one cannot vaccinate. 

That aside, there is a real danger associated with attempting to vaccinate your way out of pandemic. You can create the conditions that drive mutations even more, and introduce the prospect of what’s called original antigenic sin. What I had not anticipated was that the shot would be actually deeply dangerous, much less that it would be mandated. 

The more research we do, the less plausible this theory of exogenous intervention is. From the very outset, the vaccine was planned and a huge part of the entire pandemic control agenda. And consider this question. Would it have been possible to drive the emergency use authorization, indemnify the results from any liabilities, retain patents, elicit tax funds for development, plus push innumerable institutions to mandate the shots in absence of the national emergency, the frenzy, the demoralization, and the population-wide panic? I’ve asked many people this question, and the answer is always: no way. 

There is no world in which Warp Speed would have taken hold absent the lockdowns. They are all part of the same system and policy. So, yes, it is strange for our authors to isolate the vaccine as good in the context of everything else which they label bad. Emergencies elicit bad actors and bad actions. They are all of a piece. 

At this point, most of us have become jaded about media and messaging from mainstream sources. So an easy tag to put on this important article in New York Magazine is: limited hangout. Let’s admit failure where possible, concede mistakes and disasters along the way, even while sneaking in an approving and passing remark about the thing which in the end is the most important part of the whole epoch, namely the vaccine itself. That way, the rubes will be satisfied that there is some accountability going on, even while the biggest and deepest caper of them all gets away without a scratch. 

There is no need here to chronicle the innumerable and now widely known failure of the shot. In any case, among those who still want to claim it to be a great success, their messaging is not long for this world. The evidence is too overwhelming, and felt in every part of society the world over. 

What we have with this book and article is an important step. It is just one step. Lockdowns utterly shattered the protocols of public health, settled law, and freedom itself all over the world. They wrecked myriad institutions, wrought an incredible economic and cultural crisis, demoralized the whole population, and built up a leviathan of command and control that is not only not backing down but growing ever more. Far more will be required to utterly and completely repudiate the methods and madness of our epoch. 

Tyler Durden
Mon, 11/06/2023 – 17:00

Yemen’s Iran-Backed Houthis Launch New Wave Of Drones Against Israel

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Yemen’s Iran-Backed Houthis Launch New Wave Of Drones Against Israel

Update(1410ET): At a dangerous moment that the United States has two carrier strike groups and a nuclear-powered submarine parked in regional waters, Yemen’s Iran-backed Houthis have launched a wave of drones toward Israel

Yemen’s Houthis launched a new batch of drones against sensitive targets inside Israel on Monday, according to a statement from their armed forces broadcast by TV channel Al Masirah.

The statement said the targets of the drones were “varied and sensitive” and led to halting the movement in the targeted bases and airports for hours.

It’s unclear how effective they were in reaching Israeli territory, if at all. So far the Yemeni rebels have sent a handful of missiles toward Israel, reportedly with no casualties or damage.

Meanwhile, Secretary of State Antony Blinken’s whirlwind diplomacy tour of Arab capitals doesn’t appear to be yielding much fruit. On Sunday he had been in Baghdad, after which the Daily Caller points out: 

Iraqi Prime Minister Mohammed Shia al-Sudani met with Iranian leadership in a show of support for Hamas one day after he met with  Secretary of State Antony Blinken, according to multiple reports.

Blinken traveled to Baghdad on Sunday to express concerns to al-Sudani about increased attacks by Iranian-backed militia groups on U.S. troops stationed in Iraq, according to the State Department. al-Sudani met with Iranian leadership one day later in Tehran to praise Hamas’ Oct. 7 terrorist attacks and denounce Israel’s counteroffensive, according to a press release from Iran Supreme Leader Ali Khamenei’s office.

US bases in Iraq and Syria are still on high alert, after some two dozen drone and missile attacks from Iran-linked militant groups have occurred in the last weeks since Oct.7.

* * *

The US military build-up off Israel’s coast and especially Central Command’s (CENTCOM) willingness to advertise it openly, is cause for serious alarm in terms of the prospect for yet more Washington intervention in yet another major Middle East war.

In a very rare statement, CENTCOM on Sunday evening announced that an Ohio-class submarine has arrived in the region. The US submarine, which is both nuclear-powered and capable of carrying nuclear warheads, has arrived in an “area of responsibility” which includes the eastern Mediterranean, Red Sea, Persian Gulf, and Gulf of Oman. It is unknown and undisclosed precisely what types of advanced weapons it is carrying.

Getty Images

It is the most sophisticated that exists in the US Navy arsenal. Key to the secretive nature of such an advanced sub’s movements is the ability to traverse the seas undetected, without any rival or enemy powers having any idea where it is located, thus the Pentagon almost never puts out statements confirming where a nuclear sub is at any given time.

And yet CENTCOM didn’t just issue a statement, it went so far as to publish a photograph which openly advertises its more precise whereabouts. Israeli media said this is clearly to send a strong “message” to Iran and its proxies:

While the US announcement was scarce on details, it was accompanied by an image that appeared to show a submarine in Egypt’s Suez Canal.

The arrival of the submarine in the region was apparently part of the same strategy that has seen the Pentagon dispatch two carrier strike groups in order to deter Iran and its proxies — not least the Lebanon-based Hezbollah terror group — from attacking Israel amid its war against Hamas.

Ohio-class submarines are also reportedly capable of carrying up to 154 Tomahawk cruise missiles if outfitted for guided missiles, and is part of America’s “nuclear triad” of atomic weapons.

Newsweek reviews of the navy’s Ohio classification of sub capabilities as follows

The U.S. Navy’s Ohio-class offering consists of 14 ballistic missile submarines (SSBNs) and four cruise missile submarines (SSGNs), the latter converted to fire Tomahawk cruise missiles rather than their original nuclear-armed ballistic missile loadout.

One SSGN can be armed with 154 Tomahawk cruise missiles, significantly more than the number carried by U.S. guided-missile destroyers and attack submarines. Tomahawk missiles can carry up to a 1,000-pound high-explosive warhead out to around 1,500 miles.

The US military has also been showing off its significant assets in Middle East skies as well, with CENTCOM simultaneously issuing photos of B-1 bombers which are newly deployed in the area

One scenario in which the Pentagon is more likely to directly intervene in the Gaza situation militarily is if Hezbollah opens a full war front on Israel’s northern border. Hezbollah chief Hassan Nasrallah in a major Friday speech, his first since the conflict began, stressed that “all options are open on our Lebanese front” and specifically addressed the US build-up off the Lebanese and Israeli coasts, saying “Your fleet in the Mediterranean do not scare us… we are ready to face the fleet you threaten us with.” 

Iran’s foreign ministry has also issued a fresh statement warning that if a ceasefire in Gaza isn’t reached soon, and if Israel’s attacks on civilians continue to escalate, Americans in the region will be “hit hard” – no doubt a direct threat against US bases in Iraq and Syria.

Tyler Durden
Mon, 11/06/2023 – 14:10

Jordanian Air Force Conducts Unprecedented Medical Supply Airdrop Over Gaza 

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Jordanian Air Force Conducts Unprecedented Medical Supply Airdrop Over Gaza 

The death toll in Gaza has surpassed 10,000 and there are a reported tens of thousands of civilians wounded after weeks of Israel’s aerial bombardment and ground assault in response to Hamas’ Oct.7 massacres against soldiers and civilians in southern Israel. 

Hamas on Monday has claimed that 250,000 houses, apartments and structures have been destroyed in the Gaza Strip thus far, and hospitals have reiterated they are fast running out fuel needed to run vital generators. Neighboring Jordan has embarked on a rare intervention in Gaza, announcing that its air force had dropped “urgent medical aid” to a Gaza hospital which has been run under Jordanian government oversight since 2009.

Jordanian Air Force C-130, illustrative: Wiki Commons

An Israeli official has told Axios that the Jordanian air drop “was conducted in coordination with Israel’s military.” This despite that the two countries whose relations are governed by a historic peace treaty have witnessed ties approaching near breaking point in the last several days.

The supplies fell via parachutes after the hospital said it is running out of medical supplies to treat thousands of wounded, and also at a moment aid convoys have been held up at the Rafah crossing with Egypt. 

Jordan’s King Abdullah II confirmed the airdrop in an early Monday statement, saying on X, “Our fearless air force personnel air-dropped at midnight urgent medical aid to the Jordanian field hospital in Gaza.”

“This is our duty to aid our brothers and sisters injured in the war on Gaza,” he added. “We will always be there for our Palestinian brethren.”

This rare coordination with Israel happened despite Jordan just five days ago moving to recall its ambassadors from Israel in protest of the “humanitarian catastrophe” in the Gaza Strip.

Jordan also has very close relations with the US military and intelligence services, yet its domestic situation is tense and delicate, given that over half of the entire Jordanian population is of Palestinian origin. The Pentagon has training bases in the country, in cooperation with Jordanian forces.

But separately, Jordanian Prime Minister Bisher Khasawneh also on Monday issued the strongest warning yet aimed at Israel from Amman. He said any move by Israel to initiate a mass displacement of Palestinians from the Gaza Strip and West Bank would be seen as a “declaration of war”.

“The continuation of the sinful aggression against the Gaza Strip, with all its crimes, constitutes a flagrant violation of international law and international humanitarian law,” Khasawneh said. And that’s when he declared:

“It is necessary to stop the impunity and protection that gives Israel the license to kill Palestinian civilians. International humanitarian law prohibits and criminalizes targeting and killing civilians without exception,” the Jordanian prime minister added.

Any attempts or creating conditions to displace Palestinians from Gaza or the West Bank are a red line and Jordan will be considered as a “declaration of war”

Since the start of the conflict last month, Jordanian officials have also warned of the potential of the conflict to spread, threatening “the security of the entire region.”

Regional stability related to unrest in Israel or on its borders has historically centered on the separate peace deals Israel has made (brokered under the US) with both Egypt and Jordan. In return, Washington pumps billions in military and foreign aid to the Egyptian and Jordanian governments.

Tyler Durden
Mon, 11/06/2023 – 14:10

“Control Your Client!” Fireworks Erupt As Trump, Judge And Lawyer Have Courtroom Spat During Civil Fraud Trial

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“Control Your Client!” Fireworks Erupt As Trump, Judge And Lawyer Have Courtroom Spat During Civil Fraud Trial

Update (1400ET): The virulent anti-Trump judge overseeing the former President’s New York real estate case popped a gasket during Monday testimony – for which no cameras were allowed.

The trial concerns claims that Trump inappropriately inflated the value of his real-estate holdings in order to obtain commercial loans and insurance policies.

The prosecution began with Attorney General Kevin Wallace asking Trump to confirm that he was head of the Trump organization between May 1, 1981 and Jan. 19, 2017, to which Trump replied that Wallace was among “every Democratic district attorney, attorney general and US Attorney who were coming after me from fifteen sides, all different cases, all Trump haters, all cases that are not good. Weaponization.”

Trump then testified that banks didn’t actually care about his statements of financial condition.

“They just weren’t a very important element in banks’ decision-making process. and we’ll explain that as this trial goes along, as this crazy trial goes along,” he said, drawing a rebuke from Judge Arthur Engoron – who told the former president to “just answer the questions, no speeches.”

Trump’s lawyer spoke up, saying that Wallace is asking “questions that call for narratives.”

Can you control your client?

Trump then claimed that he added millions in value due to his brand.

“I became president because of my brand,” he said, to which Engoron asked defense lawyer Christopher Kise, “Can you control your client?”

“The former and soon-to-be chief executive of the United States understands the rules,” replied Kise. “But he doesn’t abide by them,” the judge shot back.

Engoron then threatened to boot Trump off the stand twice, saying “We are not here to hear what he has to say … We are here to hear him answer the questions. And most of the time he’s not.”

Trump lawyer Alina Habba responded that the court was indeed here to hear what Trump had to say.

Sit down already!” Engoron ejaculated, to which Trump said “This is a very very unfair trial.”

After a 15-minute recess, Trump said that he wasn’t involved in preparing his organization’s 2021 statement of financial condition because he was too busy “keeping our country safe” at the time.

“My threshold was China, Russia,” he said. “But, just for the record, you weren’t president in 2021?” asked the deputy AG. “No, I wasn’t,” Trump replied.

Trump also mocked Engoron’s Sept. 26 pre-trial ruling that he committed fraud in valuing his properties – calling the Judge’s decision itself “fraudulent,” and saying of AG Letitia James “the fraud is her!”

“I think it’s fraudulent, the decision, the fraud is on the court, not me,” Trump said angrily. “He called me a fraud and didn’t even know anything about me!”

So, things are going about as expected.

*  *  *

Authored by Michael Washburn via The Epoch Times,

After weeks of tumultuous and bitter testimony and cross-examination in New York Attorney General Letitia James’s civil lawsuit against members of the Trump family, the star witness is expected to take the stand when the trial resumes at 10 a.m. on Nov. 6.

Assistant Attorney General Andrew Amer’s highly aggressive questioning of Donald Trump Jr. and Eric Trump on the witness stand last week was a prelude to what looks sure to be the most intensive, closely watched phase of the trial. Former President Donald Trump will appear in the civil court building at 111 Centre Street in Manhattan to testify about the truthfulness of valuations of Trump family assets in financial statements provided to Deutsche Bank and other lenders.

The former president’s sons gave lengthy testimony on the mornings of Nov. 1, Nov. 2, and Nov. 3 on often overlapping subjects. The prosecutor went over financial documents and records in painstaking detail, seeking answers from the brothers as to whether they recognized certain letters, emails, and financial statements and whether they had knowingly approved the presentation of such items to the banks for the purpose of obtaining loans on terms highly favorable to the Trump family and The Trump Organization.

Mr. Amer repeatedly grew frustrated with the brothers’ tendency to qualify their answers and demanded that they reply to his questions with a “yes” or “no.” Justice Arthur Engoron largely supported Mr. Amer in his efforts to obtain simple answers, and the judge’s perceived favoritism toward the prosecution led to a prolonged argument with Trump lawyer Christopher Kise on the afternoon of Nov. 2 and the morning of Nov. 3.

Former President Donald Trump (R) appears in the courtroom with attorney Christopher M. Kise for the third day of his civil fraud trial at the New York State Supreme Court in New York City on Oct. 4, 2023. (Mary Altafeer/Pool/Getty Images)

At many points throughout the proceedings, the brothers minimized their role in the preparation of the statements of financial condition and other documents and records and said they trusted the professional accountants and financial experts who prepared such items. Although the documents bear their signatures, they were merely acting in accordance with legal advice from people inside and outside the Trump business empire whose job was to run numbers and come up with valuations.

In essence, the brothers acknowledged their authority within The Trump Organization while portraying their role as the rubber-stamping of documents containing figures and valuations that others had compiled.

Typical of the cross-examination was a moment on Nov. 2, when Eric Trump told Mr. Amer that “people ask me questions all the time, but I never had anything to do with a statement of financial condition.”

Then, a bit later in his testimony, he said: “We had an accounting department that would sometimes work with outside entities. I did not work on a statement of financial condition; I’ve been very clear about that.”

Questions for the Former President

Mr. Amer often pursued an indirect route to getting the information he wanted, asking one of the Trump brothers a question that a third-party financial professional assigned to a given project or the former president himself might be in a better position to answer.

At one point, he asked Eric Trump whether the witness had seen one of his father’s financial statements from August 2013. At such times, Eric Trump often alluded to the sheer amount of time that had passed and said he didn’t recall the details of the document or figures he was pressed about.

He denied his involvement in appraisal work on properties and said repeatedly that Sheri Dillon, who’s now an attorney with the law firm Morgan Lewis & Bockius, handled the minutiae of such matters.

The brothers didn’t dispute their agency as executives of The Trump Organization with a significant amount of latitude when it came to signing documents whose preparation they had entrusted to others. But they fell short of claiming oversight of properties and assets that fall under their father’s ownership.

Hence, the questioning of Donald Trump Jr. and Eric Trump may have been a long warm-up for the most critical phase of the trial, when questions about who was ultimately answerable for representations made to powerful financial institutions, and for any real or alleged inflations of the value of Trump family assets, will be front and center throughout the testimony.

President Trump is expected to take the stand as soon as the new phase of the trial begins on Nov. 6.

Tyler Durden
Mon, 11/06/2023 – 14:04

Sam Bankman-Badly-Needed-Reality-Check-Fried

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Sam Bankman-Badly-Needed-Reality-Check-Fried

Submitted by QTR’s Fringe Finance

In the world of finance, moments that restore faith in reality are few and far between. However, if there was one such moment last week, it was the conviction of Sam Bankman-Fried. This event momentarily bolstered my confidence not just in regulators, but in the very fabric of reality.

It’s important to give credit where it’s due. Many of my readers, along with numerous individuals I follow online, continually chide regulators. Just a year ago, I echoed these sentiments when it became glaringly clear that FTX was a colossal fraud and SBF wasn’t thrown in jail overnight.

Now, a year on, I must congratulate not only the regulators but also the legal system.

Everyone’s diligence in gathering evidence and building a robust case was instrumental in securing a conviction against Bankman-Fried at trial. Prosecutors’ work was both swift (a year is lightning fast to secure a conviction) and commendable.

In addition to restoring my faith in justice and truth, Bankman-Fried’s conviction also rekindled my trust in reality.

Most of my readers are aware that my macro perspective on both markets and the economy is that, in plain terms, that we’re on the brink of something cataclysmic, which will likely lead to a fresh round of extreme quantitative easing from the Federal Reserve.

And I know it’s controversial, but my reasoning has simply come from my belief that several decades of the easiest money in history cannot then meet the fastest acceleration of interest rates in recent history without causing an explosion somewhere. In other words, my thesis for almost everything that I own is based simply on math and common sense.

And while that sounds like the simplest and likely most reasonable way to invest, we all know that the market can stay irrational longer than most people can stay solvent.

That saying became popular because the stock market, subject to micromanagement from the central bank and the government, basically does whatever the fuck it wants (technical financial term) at any and all times.

Reality doesn’t play much of a role in a market that is driven solely by passive investing, algorithms, options gamma, revenue-less garbage growth companies, insane valuations, brain-dead morons like Cathie Wood, clueless PhD economists at the central bank, Tom Lee on CNBC every day and the next round of bilge to exit the mouth of our Treasury Secretary at some bullshit fireside chat in Belgium.

In other words, it is anything but reality that has been driving the stock market, especially recently.

I’ve written at length about how frustrating it has been for me to have been short the market for the better part of the last two years while rates are rising and to have been wrong. I’ve also written about the fact that the market does generally take its obligatory plunge after rate hikes have concluded, and around the time the Fed begins to cut, which it seems we are not far off from.

But the crux of all this reasoning relies on some semblance of rational thought and reality, which has been sorely lacking over the last two years.


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The Bankman-Fried trial has been a solitary beacon of both efficiency and reality over the last week. As the stock market continues to melt up, despite the fact that we are on the verge of World War III, at least the Bankman-Fried conviction was quick and easily reconciled in the minds of pretty much everybody who had paid attention to it or followed along with it.

Everybody knew he was guilty, everybody wanted him to be convicted, and that’s what happened.

I also, sadly, realize there is still time for a major disappointment when it comes to his sentencing. In situations like this, news outlets are always in a rush to report what the maximum sentence could be. In the case of Bankman-Fried, it’s something like 110 years. What he will be dealt may be vastly different, but one thing is for sure: he’s very likely going to spend time in prison.

Photo: Bloomberg

Even though I’m not holding my breath for the sentencing, I am encouraged by both the injection of reality and the justice of how well his case was handled.

And as I’ve written over the last month, if any of the reality of the outside world – if even an iota of it – starts to seep into the stock market the way it just seeped into Sam Bankman-Fried’s world, the shit will hit the fan quickly and, hilariously, will shock almost everybody.

I’m sure that won’t happen. Instead, the market will figure out some new way to justify insane valuations on the cusp of World War III and a reduction of the money supply. Something will likely then break, and they’ll wind up doing yield curve control and additional quantitative easing. The price of metals, which would be expected to soar, will probably remain suppressed due to paper trading, and the whole nauseating cycle can begin all over again.

But at least for today, I’m going to bask in the much sought-after reality check of the events that took place last week. At least for today, one plus one equals two again. Oh happy day.

QTR’s Disclaimer: I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have not been fact checked and are the opinions of their authors. This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. These positions can change immediately as soon as I publish this, with or without notice. You are on your own. Do not make decisions based on my blog. I exist on the fringe. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

Tyler Durden
Mon, 11/06/2023 – 13:50

Newsom Signs $25 Minimum Wage Law For ALL Hospital Workers, Finds Out Afterwards It Will Cost California $4 Billion

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Newsom Signs $25 Minimum Wage Law For ALL Hospital Workers, Finds Out Afterwards It Will Cost California $4 Billion

Authored by Monica Showalter via American Thinker,

Governor Hairspray doesn’t pay attention much to California’s budget numbers when he signs off on a bill. It’s as if putting on a green visor would mess up his costly coif.

So, in no surprise to the rest of us, Gavin Newsom was in for a surprise.

According to the Los Angeles Times:

SACRAMENTO —  When Gov. Gavin Newsom signed a law that set a first-in-the-nation minimum wage for healthcare workers, three words in a bill analysis foretold potential concerns about its cost: “Fiscal impact unknown.”

Now, three weeks after Newsom signed SB 525 into law — giving medical employees at least $25 an hour, including support staff such as cleaners and security guards — his administration has an estimated price tag: $4 billion in the 2024-25 fiscal year alone.

Half of that will come directly from the state’s general fund, while the other half will be paid for by federal funds designated for providers of Medi-Cal, California’s Medicaid program, according to Newsom’s Department of Finance.

SB 525 is one of the most expensive laws California has seen in years and comes as the state faces a $14-billion budget deficit that could grow larger if revenue projections continue to fall short. It was one of several labor-backed measures the Democrat-controlled Legislature passed this year in what amounted to an unusually successful run for organized labor. What lawmakers didn’t fully account for, as they scrambled in the final days of the session to broker a deal between unions and hospitals to support the bill, was how much it would cost the state — or what might have to be cut to pay for it.

So now the state gets to pay the janitors, gardeners, Mexican cleaning ladies (yes, real ones, and they live in Mexico and commute), gift shop clerks, and anyone else in the employ of a hospital, $25 an hour, no exceptions, and no matter what the value of their jobs are in the free market.

What a great way to spend the state’s revenue at a time of a $14 billion deficit. Now Newsom gets an $18 billion deficit, but when you have a billion here, a billion there, who’s counting?

Except that the Times notes that services in other areas are going to have to be cut to “pay for” these inflated wages.

Meanwhile, as far as those $25 an hour hospital cleaning jobs go, get ready for it — those menial jobs will suddenly become very politicized as to who gets one. You can bet that anyone who has such a job will be or become a very dedicated Democrat union operative and willing to do anything for them. Get ready for the beefed-up ballot-harvesting brigades, muscling unwilling voters in their homes to play ball for the Democrats.

It’s simply outrageous, and it was a completely preventable problem.

Had Newsom examined the cost and benefit of raising gardeners’ wages to $25 an hour, like any normal governor would do, he would have probably modified the bill to reasonable standards, or better still, just said ‘no.’

But this was unions we are talking about, and this one the same SEIU union Newsom succored a few weeks ago when he appointed Laphonza Butler to the Senate seat vacated by the death of Dianne Feinstein, even though she was a resident of Maryland. Newsom couldn’t find any black female Californians to take the job? Of course not.

Butler had spent most of her working career as an SEIU organizer and operative, so we can see the outlines of the pattern here, given that unions have tremendous power in the state of California.

Now they’ve left him with a $4 billion bill, which he will blithely sweep under the rug as he cuts vital services elsewhere in the state. CalFire, the mighty wildfire fighting state agency, get ready for your haircut. California Highway Patrol, get ready for budget cuts.

We all know who’s going to get the short end of the stick in this one as gardeners now make white-collar salaries.

We can also look forward to higher health insurance bills as those higher costs make their way down to the insurance agencies. Somebody’s going to be paying for it.

No wonder Californians are bailing out. California has lost 800,000 residents during these Newsom years from 2020-2023, according to CapRadio. Another chart, from the Public Policy Institute of California shows tremendous losses — noting at the end that there’s no end in sight.

Don’t we pay these politicians to consider costs and benefits of various spending measures before signing on? Normal governors look at costs before they sign the bills, not the other way? Not to Newsom. He just goes along with what unions want … and now expects that his next stop is the seat behind the desk in the Oval Office.

Tyler Durden
Mon, 11/06/2023 – 13:10

Virginia Teacher Wins Major Ruling Against The School District After Being Shot By Six-Year-Old

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Virginia Teacher Wins Major Ruling Against The School District After Being Shot By Six-Year-Old

Authored by Jonathan Turley,

There was a major and somewhat surprising ruling in the case of Abigail Zwerner, the elementary school teacher who was shot by a 6-year-old student in January.

Zwerner sued the school district for $40 million after learning that school officials knew that the child had brought a gun to school that day and that the child had previously threatened teachers.

Newport News Circuit Court Judge Matthew Hoffman ruled that Zwerner was not confined to recovery under worker’s compensation because the shooting did not fall within the scope of her employment.

Zwerner spent two weeks in the hospital and later resigned from Richneck Elementary School before suing the school. District counsel argued that the complaint should be dismissed since her injuries were covered exclusively under worker’s compensation:

“Plaintiff was clearly injured while at work, at her place of employment, by a student in the classroom where she was a teacher, and during the school day. Teaching and supervising students in her first grade class was a core function of Plaintiff’s employment. Thus, Plaintiff’s injuries arose out of and in the course of her employment and fall under Virginia’s Workers’ Compensation Act.”

What was likely infuriating for Zwerner was the added claim that this was all part of “educating John Doe through his behavioral evaluation and educational journey.”

The “journey” led to being shot in the torso and hand after asking the gun-wielding student, “What are you doing with that?”

Judge Hoffman disagreed and held that  “The danger of being shot by a student is not one that is peculiar or unique to the job of a first-grade teacher.”

The district will now appeal and could well prevail under the Virginia Worker’s Compensation Act. The question is whether this was a “personal” attack directly at Zwerner or a more general threat against everyone in the school.

Code § 65.2-307(A) provides, in pertinent part: “the rights and remedies herein granted to an employee when his employer and he have accepted the provisions of this title respectively to pay and accept compensation on account of injury or death by accident shall exclude all other rights and remedies of such employee, [or] his personal representative … on account of such injury … or death. ” It is designed to be the exclusive remedy for employees. Taylor .v Posey, No. 1042-22-4, 2023 WL 5021240, at *3 (Va. Ct. App. Aug. 8, 2023).

The courts have looked simply at whether “an injury is subject to the exclusivity provision of the Act if it is the result of an accident and arises out of and in the course of the employment.” Combs v. Va. Elec. & Power Co., 259 Va. 503, 508, 525 S.E.2d 278, 281 (2000). The court treated this as a directed personal attack, which an appellate court may find unsustainable given the purpose of the act.

Here is the decision: Zwerner.Opinion.Order.11.3.23

Tyler Durden
Mon, 11/06/2023 – 11:50