Trump’s Failing Media Company Desperately Scrambles to Find Scapegoat

Donald Trump’s social media company has lost so much money that the CEO is asking Congress to look into what might be causing it. 

Devin Nunes, a former Republican congressman himself, wrote a letter to several committees in the House of Representatives asking them to “open an investigation of anomalous trading of DJT,” CBS News reported Wednesday. $DJT is the stock symbol for Trump Media & Technology Group, which owns Truth Social.  

Nunes’s letter, dated Tuesday, was sent to the House Judiciary, Financial Services, Ways and Means, and Oversight Committees, all of which are chaired by major Trump allies. The request comes after Nunes complained in—and was mercilessly mocked for—a different letter to NASDAQ CEO Adena Friedman last week about “naked short selling,” an illegal technique used to try to benefit from an asset declining in value. 

In normal short selling, which is legal, traders borrow stock shares before selling them, hoping to profit later by buying back the stock at a lower price. Naked short selling differs in that a trader doesn’t keep their promise to borrow, dealing a severe blow to a company’s stock price.

In the letter to NASDAQ, Nunes asked Friedman to make sure trading firms disclose whether they are short selling the company’s stock. It was met with scorn on Wall Street, particularly from Citadel Securities, which released a statement mocking the former president and his media venture.  

As of Wednesday, TMTG stock was trading at $35 a share, half of its peak price after the company’s initial public offering in March. Since its stock market debut, the company has suffered a series of setbacks, from SEC filings showing staggering losses to two of its investors being indicted for insider trading. The company’s total losses are said to be at least $2 billion. 

It’s ironic that a Trump-controlled business would seek help from the U.S. government, when Trump himself is in legal trouble for his business practices, and also faces federal charges in Florida and Washington, D.C. The Republican-controlled House of Representatives is probably the only Trump-friendly federal government body where he could seek help, as pro-MAGA politicians seemingly have no qualms with publicly offering their services.

A Michigan state investigator revealed in court Wednesday that Donald Trump, his former White House Chief of Staff Mark Meadows, and his former attorney Rudy Giuliani are considered unindicted co-conspirators in the state’s case against fake electors in the 2020 presidential election.

Howard Shock, a special agent for the Michigan attorney general’s office, revealed the names during a preliminary hearing for the case, in response to a question from an attorney for one of the 15 fake electors on trial, ABC News reported.

In January, internal Trump campaign emails obtained by The Detroit News showed that the former president’s campaign team was directly involved in the fake elector scheme to falsely claim Trump won Michigan during the 2020 election. They actively organized the plot, setting up a Michigan Republican Party meeting and even trying to mail a document falsely certifying that Trump won the state to Vice President Mike Pence and the National Archives.

One Trump campaign employee even tried to start a riot where ballots were being counted in Detroit after it became clear that Trump would lose the state.

Last year, Michigan Attorney General Dana Nessel charged 16 Republicans with forgery and conspiracy to commit election forgery for attempting to overturn the state’s vote from Joe Biden to Trump . One fake elector had their charges dismissed after agreeing to cooperate with the state, and the other 15 have pleaded not guilty.

Michigan, Nevada, and Georgia have all charged fake electors for trying to overturn the 2020 election results in Trump’s favor, with Arizona close to filing charges. Fake electors in Wisconsin have settled a civil lawsuit over their fraudulent efforts. In Fulton County, Georgia, Trump directly faces charges for trying to overturn the state election results.

Donald Trump is in the tank for 91 criminal charges and four criminal trials—but how he’s paying for all his legal counsel could also be putting him into some murky water.

Trump’s various political committees, including his presidential campaign, have been making upwards of $8 million in payments to a Republican compliance firm known as Red Curve Solutions for the last 15 months, according to a review of FEC filings by The Daily Beast. That sum makes Red Curve the highest paid legal counsel on Trump’s staff—higher than ardent and highly visible defenders such as Alina Habba and John Lauro—even though the self-described accounting group has never provided him legal aid.

Instead, the payments have been earmarked in FEC filings as “reimbursements,” making Red Curve a financial intermediary between Trump’s various political entities while skirting federal regulations on candidate disclosures.

“This appears illegal for two reasons,” Brendan Fischer, a campaign finance specialist, told the Beast.

“When a campaign makes a reimbursement, it must report the payment to the person being reimbursed, and also itemize the underlying vendor,” Fischer told the outlet, explaining that the reimbursements don’t provide any of the required itemization. “The second is that these transactions may have resulted in Red Curve making illegal corporate contributions to Trump’s committees.”

Red Curve’s status as a corporation also legally limits their ability to provide monetary advances to Trump’s financial committees, even if he repays the funds later, according to Fischer.

And the arrangement is still ongoing. Filings indicate that nearly $900,000 of Trump’s legal expenses this year have gone through Red Curve, with $300,000 reimbursed just last month.

Marjorie Taylor Greene’s futile fight to stop aid to Ukraine, and her weak attempt to oust Speaker Mike Johnson, has not endeared her to fellow Republicans in Congress, who now worry about the damage she’s doing to the wider party.

The latest Republican to complain is Senator Thom Tillis, who called out Greene for being a “total waste of time” and “dragging our brand down,” in a recording reported by CNN Tuesday night.

“She — not the Democrats — are the biggest risk to us getting back to a majority,” the North Carolina senator added.

Greene has already lost support from right-wing media and earned the derisive nickname “Moscow Marjorie” for her pro-Russia stances. Despite losing her bid to stop Ukraine aid from passing in Congress, the far-right congresswoman still refuses to abandon her efforts to push out Johnson, which could throw the House in further chaos in a critical election year

Tilis narrowly won his reelection race in 2020 in North Carolina, and is probably worried about how other swing state Republicans will fare this November. Tillis has been a strong critic of Russia and supporter of Ukraine aid, and has little patience for Putin apologists.

The Supreme Court began hearing oral arguments in United States v. Idaho Wednesday—and it was not smooth sailing for the Gem State and its abortion ban.

At the crux of the case is whether pregnant people in Idaho will be allowed to get abortions when receiving lifesaving, critical care at hospitals and emergency rooms, or if they and their fetus will be considered two separate people, with the potential for the viability of the fetus to take a healthcare precedent.

But on Wednesday morning, Justice Ketanji Brown Jackson was already openly questioning why the nation’s highest court was even hearing the case if the state was, as Idaho Attorney General’s Office’s defense attorney Josh Turner claimed, in complete compliance with EMTALA, a federal law that requires emergency rooms to provide care to any individuals who show up.

But Turner’s claim completely fails to acknowledge the practical realities of medical care within the state, where politicians have made abortion care a felony and outright criminalizing the act even if it could save a pregnant person’s life—as Solicitor General Elizabeth Prelogar reminded the court.

According to Turner, there would need to be a “clear statement” in EMTALA that clarifies Congress explicitly demands doctors perform abortions.

Idaho already has a near-total abortion ban, but the Alliance Defending Freedom, the far-right Christian legal advocacy group arguing the lawsuit on behalf of the state, is utilizing the case to advance the idea of fetal personhood. This stipulation would effectively require doctors to treat fetuses—no matter how underdeveloped—with the same medical care as the person carrying it, even if it poses a medical risk to the pregnant patient.

Fetal personhood was a heavy topic of interest in Wednesday’s hearing, with Prelogar entering into a heated back-and-forth with Justice Samuel Alito over the issue, reminding the conservative judge that “a woman is an individual.” That made Alito, who wrote the majority opinion in the case that overturned Roe v. Wade, scoff that nobody had suggested they weren’t, reported Rewire News Group’s Jessica Mason Pieklo.

But Prelogar shot one back: actually, Idaho is.

Pro-abortion activists have long warned that providing equal human rights to a fetus—especially if it’s a cluster of cells—will effectively strip pregnant people of their own rights. The notion of fetal personhood has also been leveraged elsewhere in the country to restrict IVF access in states such as Alabama and limit access to forms of birth control.

“Thirteen of Idaho’s 44 counties are already maternity care deserts. Emergency rooms then become frontline care. The Idaho ban’s severe limitation on treatment options will only result in increasing Idaho’s already unacceptable maternity mortality and morbidity rates,” warned the board chair of Physicians for Human Rights, Gerson H. Smoger, ahead of Wednesday’s hearing.

While much of the ignorant takes about Columbia University’s pro-Palestine divestment protests have come from the right, Democratic Representative Jared Moskowitz has decided to offer one of his own after touring the campus.

Moskowitz visited Columbia on Monday alongside fellow Democrats Josh Gottheimer, Dan Goldman, and Kathy Manning. Moskowitz and Gottheimer have been slow to call for a ceasefire, despite the feelings of Jewish congressional staffers.

“We were mad years ago when we saw Charlottesville, and ‘Jews will not replace us.’ And Donald Trump saying ‘good people on both sides’ or ‘Mexicans are rapists.’ Right? But somehow we don’t have the same anger of ‘Go back to Poland,’” Moskowitz told CNN that night.

“My grandfather’s entire family was killed in Poland. He was the sole survivor, right? ‘All Zionists should be killed. Bomb Tel Aviv.’ I know the people saying this aren’t, you know, white Aryan males with tiki torches, but they have the same message,” he added.

While Moskowitz’s fear of anti-Semitism should not be dismissed, the protests at Columbia have included Jewish students, who even held a Shabbat service on Friday. The national organization Jewish Voice for Peace even pointed out in a statement that university officials, in attempting to shut down the protests, have infringed upon some Jewish students’ religious practices:

• Last Friday, on the eve of Shabbat, when Jewish scripture encourages Jews to gather in homes and in community to pray and welcome the sabbath, the university instead forced Jewish students from their homes on campus, denying them a safe place to worship or gather with their community.
  
• Some of these Jewish students also observe shomer Shabbat, abjuring all electronics during the sabbath. Last Friday, they were forced to break with their religious observances in order to comply with the administration’s urgent email communications.
  

Moskowitz’s comparison also compares protests against the war in Gaza to the “Unite the Right” protests of 2017, when white nationalists actively sought conflict in the college town of Charlottesville, Virginia, which didn’t want them there. In contrast, many faculty members at Columbia University, appalled at the university’s crackdown, led a walkout on Tuesday in support of the student protesters.

Student groups across the country have continued with their own campus encampments and protests following the events at Columbia, while the discovery of mass graves in Gaza has brought international calls for an investigation. It seems a solution to both would be a ceasefire, but that may not happen until the Biden administration also ends its support for the war.

Tennessee House Republicans have pushed through a bill that will allow teachers and staff to carry guns in public schools, causing the viewing gallery—filled with teachers, parents, and students—to erupt in outrage.

Moments after the legislation passed on Tuesday with a 68-28 vote, the mass of protesters exploded.

“Blood on your hands,” the group screamed in unison, waving signs that read “Protect kids not guns” and “1 Kid > All the guns.”

Democratic Representative Justin Jones, one of two lawmakers that Republicans expelled last year for joining protests in support of gun control, accused the GOP of “fascism.”

The bill will almost definitely become law once it reaches Republican Governor Bill Lee, who has yet to veto a piece of legislation that reaches his desk. The measure will allow teachers and staff to carry weapons in most school settings without notifying parents or even their colleagues that they’re armed.

The bill will also require some teachers to receive firearm training, though opponents to the bill have insisted that the minimal training is not enough to keep staff and children safe.

“This is nothing but a bad disaster and tragedy waiting to happen if we do not ensure personal responsibility,” House Democratic Caucus Chair John Ray Clemmons told The Tennessean. “Our children’s lives are at stake.”

Shortly before holding the vote, House Republicans cut off debate on the legislation after one member of the viewing public, teacher Lauren Shipman-Dorrance, cried out from the gallery. House Speaker Cameron Sexton ordered state troopers to remove her.

“I’ve been teaching a long time. I’ve worked in a lot of schools where violence is a thing, even if a gun isn’t involved. And that will happen more if they pass this,” Shipman-Dorrance told The Tennessean. “I used to think they didn’t get it, but I honestly just think at this point, they’re not hearing us no matter what. And that really, to me, calls into question ethically, morally, what they are doing and why.”

The crowd erupted after Shipman-Dorrance was removed, prompting Sexton to order everyone seated in the gallery out—but that was only followed by the House completely falling into disorder, with some members of the House reportedly filming and pushing one another.

Donald Trump must sense the walls closing in. At 2:00 a.m. Wednesday morning, the former president begged Republicans to step in and save him from his hush-money trial in a long, rambling two-post thread on Truth Social.

“This New York Cabal, run by Crooked Joe Biden’s White House, is a hit job on a Political Opponent the likes of which the USA has never seen before. For the Good of our Country, it must be stopped. The Crooked Joe Biden Witch Hunts have to be ended. REPUBLICANS IN WASHINGTON MUST TAKE ACTION!” he wrote.

Trump took aim at Manhattan District Attorney Alvin Bragg as being “soft on crime,” Judge Juan Merchan for being “rigged” against him, and even the judges in his defamation case and civil fraud case, calling them “corrupt.” His complaints come just up to the threshold of acceptable commentary under his gag order, which prohibits him from speaking publicly about courtroom staff, prosecutors, or any of their family members. Trump has complained bitterly and almost continuously about the order, even after his contempt of court hearing Tuesday for allegedly violating it.

Trump has been charged with 34 felony counts for allegedly using his former fixer Michael Cohen to cover up an affair with adult film actress Stormy Daniels ahead of the 2016 presidential election. Tuesday’s proceedings did not go well for Trump, with witness David Pecker, who was publisher of the National Enqurier and CEO of its parent company in 2016, detailing how he worked with the Trump campaign to “catch and kill” negative stories about the then-presidential candidate.

If Trump is looking for Republicans to interfere in his court proceedings, there’s not much they can do besides make weird, full-throated defenses to the public. Even then, the real people Trump needs on his side are the jurors in the trial, who are understandably more worried about their own safety.

George Santos just pulled another fast one on… well, anybody who still believed in George Santos.

The disgraced former lawmaker dropped his renewed bid for Congress on Tuesday, claiming that he didn’t want his run for New York’s 1st Congressional District to be “portrayed as a reprisal” against his apparent Long Island nemesis, Representative Nick LaLota.

“Although Nick and I don’t have the same voting record and I remain critical of his abysmal record, I don’t want to split the ticket and be responsible for handing the house to Dems,” Santos wrote in a statement on X, formerly known as Twitter. “It is clear that with the rise of antisemitism in our country we cannot afford to hand the house to Dems as they have a very large issue with antisemitism in their ranks…”

But Santos’s latest FEC filing tells a different story: one in which the ousted congressman raised exactly $0 in the first quarter of his campaign.

Critics quickly picked up on the detail online, including LaLota himself, who snarkily wrote back that Santos was “taking a plea deal.”

“You wish you useless feckless RINO,” Santos barked. “Keep spreading misinformation…Show us that time sheet of yours from when you were at the BOE and Law school at the same time…We are waiting for you to refute but then again you can’t…”

The reputed hustler—who was caught fabricating his entire résumé and lying about his relation to Holocaust survivors, being “Jew-ish,” his connection to the 2016 Orlando nightclub shooting, and the kidnapping of his niece, among many other things—is currently facing 23 counts related to illegally receiving unemployment benefits, aggravated identity theft, and credit card fraud. His next court proceeding is scheduled for August 13, with a trial expected in September.

Still, there’s always a chance that Santos might return.

“It’s only goodbye for now, I’ll be back,” he wrote on Tuesday.

The Supreme Court will hear another abortion case on Wednesday, providing the nation’s highest court with another opportunity to ban the medical procedure.

The case, United States v. Idaho, will argue whether pregnant people in the Gem State are allowed to get abortions when receiving lifesaving, critical care at hospitals, or if they and their fetus will be considered two separate people.

Idaho already has a near-total abortion ban, but the Alliance Defending Freedom, the far-right Christian legal advocacy group arguing the lawsuit on behalf of the state, is utilizing the case to advance the idea of fetal personhood. This stipulation would effectively require doctors to treat fetuses—no matter how underdeveloped—with the same medical care as the person carrying it, even if it poses a medical risk to the pregnant patient.

“Idaho’s law would make it a criminal offense for doctors to provide the emergency medical treatment that federal law requires,” Attorney General Merrick Garland said in 2022.

Pro-abortion activists have argued that providing equal human rights to a fetus—especially if it’s a cluster of cells—will effectively strip pregnant people of their own rights, reported freelance journalist Susan Rinkunas. An amicus brief in the case specifies that, if the court rules for Idaho, it will “succeed in demoting pregnant women to second-class status under EMTALA,” a federal law that requires emergency rooms that run on Medicare funding to provide care to any individuals who show up.

“Only pregnant women will be forced to surrender their EMTALA rights to make healthcare decisions about their bodies, and only pregnant women will have treatment guaranteed under federal law limited to Idaho’s prohibitory terms,” the brief reads. “Pregnant women stripped of their EMTALA rights under bans like Idaho’s have already experienced devastating harms because of the denial of abortion care. They have endured severe hemorrhage, life-threatening infection, and the trauma of painful, hours-long vaginal delivery of a non-viable fetus.”

“If Idaho prevails and pregnant women’s EMTALA rights are allowed to vary State-to-State, these appalling, and completely avoidable, injuries will proliferate everywhere there are bans like Idaho’s,” it continues. “And, in lock-step, denial of emergency abortions under EMTALA will contribute to this country’s already-abysmal rates of maternal mortality and morbidity, which—like all reproductive harms—are racially disparate.”

The notion of fetal personhood has also been leveraged to restrict IVF access in states such as Alabama and limit access to forms of birth control.