Stephen K. Bannon's Blog, page 783

Fed historic measure to try to curb inflation

The Federal Reserve is set to take its most aggressive action in decades to rein in inflation when it meets this week — a move that would have implications for the entire econom …

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Cawthorn implicated in insider trading scheme

EXCLUSIVE — Rep. Madison Cawthorn may have violated federal insider trading laws as he hyped up an alleged pump-and-dump cryptocurrency scheme, multiple watchdog groups told the Washington Examiner.

On Dec. 29, the beleaguered North Carolina congressman posed at a party with James Koutoulas, a hedge fund manager and the ringleader of the Let’s Go Brandon cryptocurrency, a meme coin set up in the wake of the chant mocking President Joe Biden.

“LGB legends. … Tomorrow we go to the moon!” Cawthorn, who has stated publicly he owns the cryptocurrency, posted on Instagram in response to the picture posted on Koutoulas’s Instagram page.

The next day, LGBCoin did exactly as the lawmaker predicted.

NASCAR driver Brandon Brown announced on Dec. 30 that the meme coin would be the primary sponsor of his 2022 season, causing LGBCoin’s value to spike by 75%. Brown’s statement featured comments from Koutoulas, who was pictured with Cawthorn just a few hours prior…

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A post shared by James Koutoulas (@jameskoutoulas)

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Musk Wins $13B Lawsuit

Photo: Reuters
Elon Musk wins a $13 billion lawsuit over Tesla’s purchase of Solar City in 2016. This verdict indicates that Tesla’s board of directors made the decision to buy the company on their own, without influence or direction from Musk, at a fair price.The judge sided with Elon Musk in a major lawsuit filed by Tesla shareholders. They alleged that the chief executive coerced the electric vehicle company’s board of directors into purchasing SolarCity in 2016. In this regard, they demanded damages in the amount of $13 billion. Shareholders claimed Tesla’s $2.6 billion deal to buy SolarCity shares was to save it from financial hardship. According to them, this “rescue” was orchestrated directly by Musk. Ultimately, the judge did not find facts that would confirm this, so he ruled in favor of the head of Tesla on all points, without exception.“[The] Tesla Board meaningfully vetted the Acquisition, and Elon did not stand in its way,” read the opinion by Vice Chancellor Joseph Slights. “Equally if not more important, the preponderance of the evidence reveals that Tesla paid a fair price—SolarCity was, at a minimum, worth what Tesla paid for it,” he added.In fact, the purchase of SolarCity was inevitable for Tesla for one simple reason—it was in line with the company’s plan and roadmap announced back in 2006. This was part of the vertical integration of the company, and although the process of merging and equally focusing on the development of the two areas was difficult, at the moment SolarCity—renamed Tesla Energy—is a rapidly growing business that generates profit.

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Biden Speech to Support Ukraine

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MSNBC’s Joy Reid suffers lowest ratings ever

MSNBC’s “ReidOut” hosted by Joy Reid finished April with record-low viewership, down 51% from when the show launched in July 2020.An average of 1.1 million people tuned into “ReidOut” each night of April, the smallest number in the program’s history, Fox News reported.
“During April, every single Fox News Channel weekday program – including ‘FOX & Friends First’ which airs from 4–6 a.m. ET – outdrew ‘The ReidOut,’ ” the outlet touted.
Breaking down Friday’s cable ratings, Mediate reports that 1.08 million people watched “ReidOut” while 2.05 watched “Jesse Watters Primetime” at that same time.
“ReidOut” also lost 57% of its audience among adults ages 25–54, with an average of 124,000 viewers in April, Fox observed.
On Friday, Joy Reid had 109,000 viewers in that coveted advertiser demographic while Jesse Watters had more than triple that number, per Mediate.
Rumors circulated in January that MSNBC would end production on “ReidOut,” but a spokesperson for the network told Just the News, “that report is bogus.”
…

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BORDER CZAR: LYING OR STUPID

Department of Homeland Security Secretary Alejandro Mayorkas insisted to Congress that his agency will be able to handle the expected wave of illegal immigration after Title 42 is lifted.

DHS anticipates that “migration levels will increase, as smugglers will seek to take advantage of and profit from vulnerable migrants,” Mayorkas wrote in a memo Tuesday, detailing the Biden-Harris administration’s plan for when Title 42 is lifted.

“We are also sending a clear message in the region to counteract misinformation from smugglers, including that the termination of the Title 42 public health Order does not mean that the U.S. border is open,” he added in his plan that included six pillars for border security.

Rep. John Katko (R‑N.Y.) accused Mayorkas, who testified in front of the House Appropriations Committee on Wednesday, of using the plan to hide larger immigration issues.

“The bottom line is you put out the six pillars yesterday to cover up the fact that you guys have lost operational control of many parts of the border already,” Katko said.

During his testimony, Mayorkas insisted, “We will not lose operational control of the border.”

The plan states that DHS will access “additional resources through interagency agreements and contracts.”

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Ukraine War: What Historical Analogies Make Sense?

Which analogies are we using to understand the Russia-Ukraine War? Yuen Khong’s pioneering work in Analogies at War described how policymakers tend to think in terms of analogies when faced with new international crises. We understand the world through stories as much as through data, and when faced with uncomfortable or unfamiliar situations policymakers tend to reach for stories that they understand. The choice of analogy tends to reflect generational concerns (policymakers who came of age during World War II tend to favor Munich analogies, those who cut their teeth in the early Cold War tend to think in terms of the Cuban Missile Crisis, and so forth), but also the motivated bias of practitioners (people reach for analogies that suggest their endeavors may enjoy success).  Other scholars have built upon Khong’s work; for example, Eric Mosinger runs through several World War II analogies that have informed Western thinking about the war since it began two months ago. The Russians have purposefully attempted to activate analogic thinking by declaring that their purpose is to “denazify” the Ukrainian government, …

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Musk’s Actions At Tesla Could Signal Trouble For Twitter’s Leftist Employees

If new incoming Twitter boss Elon Musk manages the social media platform the way that he has reportedly managed Tesla in the past, then Twitter’s leftist employees may have cause for concern.

Twitter’s board of directors approved the $44 billion transaction on Monday for $54.20 per share, and it’s expected to close this year subject to the approval of Twitter’s shareholders and other regulatory approvals.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

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Twitter Lawyer Cried… She Banned Trump…

The Twitter lawyer who broke down crying during a meeting about the ramifications of Elon Musk’s takeover of the social media company was previously instrumental in banning President Trump as well as censoring information about the COVID lab leak theory.

Yesterday, it was revealed that Twitter’s top lawyer, Vijaya Gadde, was reduced to tears during a virtual meeting with the company’s policy and legal teams following Musk’s successful purchase of the platform.

According to Politico, “Gadde cried during the meeting as she expressed concerns about how the company could change,” and “acknowledged that there are significant uncertainties about what the company will look like under Musk’s leadership.”

Gadde was presumably upset by the fact that her power to censor individuals and content may now be restricted under Musk’s leadership.

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Dems slam ‘dangerous influence’ of billionaires, Musk

MeWe founder Mark Weinstein says Tesla CEO Elon Musk will face a ‘challenge’ with operating two large companies after accepting $44 billion Twitter offer.  Prominent Democrats are reacting to news that Tesla CEO Elon Musk has purchased Twitter by railing against the influence of billionaires in society. “Elon Musk and a handful of billionaires now have dangerous influence over the most powerful online platforms,” Massachusetts Sen. Ed Markey tweeted Tuesday. “They can’t be trusted, and self-regulation has failed. We must pass laws to protect privacy and promote algorithmic justice for internet users, especially for kids.” Elon Musk gestures as he speaks during a press conference at SpaceX’s Starbase facility near Boca Chica Village in South Texas on February 10, 2022.  ( Getty Images / Getty Images)TWITTER EMPLOYEES DISTRAUGHT OVER MUSK BUYOUT, TOO ‘IN SHOCK TO SPEAK’: REPORT Markey was widely criticized on Twitter for the post with many conservatives mocking the phrase “algorithmic justice.” “What is “algorithmic justice??” Conservative radio host Dana Loesch tweeted. “Where was this interest when Twitter’s algorithims were manipulated to suppress conservatives’s accounts?“MUSK BIOGRAPHER REVEALS HOW TESLA CEO SPENT NIGHT AFTER TWITTER BUYOUT: ‘HE CAN MULTITASK’Sen. Elizabeth Warren joined her Massachusetts Democratic colleague in criticizing billionaires following the Musk Twitter takeover. Democratic presidential candidate Sen. Elizabeth Warren, D‑Mass., speaks to supporters at a primary election night rally, Tuesday, Feb. 11, 2020, in Manchester, N.H. (AP Photo/Elise Amendola) (AP Newsroom)“This deal is dangerous for our democracy,” Warren tweeted. “Billionaires like Elon Musk play by a different set of rules than everyone else, accumulating power for their own gain. We need a wealth tax and strong rules to hold Big Tech accountable.“Oregon Sen. Jeff Merkley referred to Musk as an “oligarch.””“It’s always a concern when an oligarch may be owning the town square,” Merkley said. “I think we do need to pay a lot of attention to how it’s managed.“GET FOX BUSINESS ON THE GO BY CLICKING HERERobert Reich, former Secretary of Labor under President Bill Clinton, echoed Merekley’s fear of oligarchs. Tesla CEO Elon Musk (Photo by Patrick Pleul — Pool/Getty Images) ((Photo by Patrick Pleul — Pool/Getty Images) / Getty Images)“A handful of billionaires now have unprecedented control over banking, the food we eat, the health care we can access and, now, the information we receive,” Reich tweeted. “This is what oligarchy looks like.“Twitter shares rose over 5% on Monday after the company’s board unanimously accepted Musk’s $44 billion offer to take the company private.“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town …

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