Axios

"I'm allowed to": Trump's presidential profit machine bursts into the open

3 days agoCenter Left

Democrats erupted Monday over President Trump's $1.8 billion "anti-weaponization" fund for MAGA allies who claim political persecution, vowing to investigate what they called textbook corruption.Why it matters: With each passing month, Trump is weaving the financial interests of his family, his allies and his political movement more tightly than ever into the fabric of the American presidency.Driving the news: The weaponization fund grew out of an extraordinary legal conflict: Trump sued the IRS for $10 billion in January while simultaneously controlling the agencies and lawyers on the other side of the case.The taxpayer-backed fund will be overseen by a five-member commission appointed by acting Attorney General Todd Blanche, Trump's former personal attorney.Bypassing congressional approval, the fund could extend compensation to Jan. 6 defendants, conservative activists, former Trump aides and other allies who have faced investigation.What they're saying: "The machinery of government should never be weaponized against any American," Blanche said in a statement, calling the fund an effort "to make right the wrongs that were previously done."In a legal filing, 93 House Democrats argued the arrangement "raises the specter of corruption unparalleled in American history." Some have signaled they will impeach Trump if Democrats win the House in November.Zoom in: The Justice Department's announcement came amid mounting scrutiny of Trump's most recent financial disclosure, which revealed more than 3,700 individual stock trades last quarter.The trading activity — involving some companies heavily exposed to federal policy decisions — represented a staggering escalation from the previous quarter, when Trump disclosed just 380 transactions.Popular Information's Judd Legum reported that Trump publicly praised or promoted several companies, including Apple, Dell and Thermo Fisher, about the same time he was buying their stock.Between the lines: The Trump Organization says outside advisers control the president's investments. "Neither President Trump, his family, nor the Trump Organization plays any role in selecting, directing, or approving specific investments. They receive no advance notice of trading activity and provide no input regarding investment decisions or portfolio management of any kind," a Trump Organization spokesperson told Axios.White House spokesperson Anna Kelly added in a statement: "President Trump only acts in the best interests of the American public — which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media. There are no conflicts of interest." Flashback: Federal conflict-of-interest laws generally do not apply to the president, leaving the office heavily dependent on voluntary norms and political restraint.Trump is the first president whose trading triggered the disclosure requirements of the STOCK Act, the 2012 law written for Cabinet officials and members of Congress.The big picture: Trump's first term generated recurring conflict-of-interest scandals around hotels, golf clubs and foreign patronage. His second has produced a far more sprawling ecosystem for enrichment.At the center of the gold rush is crypto: Trump-linked meme coins have minted billions for the family and its inner circle, with top holders unlocking dinners at Mar-a-Lago and private events with the president.World Liberty Financial has rapidly become one of the Trump family's most lucrative and controversial ventures, placing the president's political brand and influence at the center of a fast-growing crypto empire.The intrigue: Crypto billionaire Justin Sun, who helped bankroll World Liberty Financial, is now suing the Trump-linked company over an alleged "illegal scheme" to seize and freeze his tokens.World Liberty Financial has denied the allegations and is suing Sun for defamation.Zoom out: Since Trump took office, his sons have become investors in a range of new industries, including AI, drones and critical minerals. Their overseas real estate portfolio has also expanded dramatically.Donald Trump Jr. is a partner at 1789 Capital, which has grown from $200 million to $3.5 billion in assets over the past year while backing AI and defense companies that have won federal contracts.Trump Jr. also has gotten involved in the booming prediction-market industry through advisory roles with Kalshi and Polymarket. The Trump administration is currently suing three states to defend the platforms from state-level enforcement.Trump's son-in-law Jared Kushner has continued to raise billions from Persian Gulf governments while serving as the president's peace envoy for the Middle East.What to watch: A pattern of well-timed trades around the Iran war — now under federal investigation — have emerged as one of the most politically explosive storylines of Trump's second term.There's no evidence that Trump has had personal knowledge of...

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Trump 'at war with Senate Republicans' will need a favor from GOP lawmaker he betrayed

Raw Story

41 minutes ago

Trump 'at war with Senate Republicans' will need a favor from GOP lawmaker he betrayed

President Donald Trump's move to push out a longtime Republican ally could backfire — because he now needs his help, according to reports on Friday.Burgess Everett, Semafor congressional bureau chief, pointed out that as Tulsi Gabbard announced her resignation as director of national intelligence, it has left three openings for the Trump administration to fill all while he navigates a more tense relationship with GOP lawmakers in the economic fallout over the Iran war, the White House ballroom funding and his controversial $1.8 billion “anti-weaponization” fund."Upshot from Gabbard resigning: Trump now has three Cabinet vacancies (Labor, AG) while he's basically at war with Senate Republicans," Everett wrote in a post on X."And confirming a new DNI will require the votes of Sens. Collins and ... Cornyn in Senate Intelligence Committee, whom Trump just snubbed," Everett added.Interim leaders have been tapped to run the Labor Department and Justice Department until Trump names new nominees to the roles."Acting attorney general Todd Blanche faces a tough road to confirmation if Trump nominates him to a permanent role," according to a Semafor report."Any Gabbard replacement would have to get approval from the Senate Intelligence Committee, whose members include moderate Maine Sen. Susan Collins, who has voted against several Trump nominees and priorities, as well as Texas Sen. John Cornyn, recently snubbed by Trump in his primary. Gabbard’s successor would need both of their votes — and confirming her was a challenge to begin with at the peak of Trump’s power," Semafor reported.

Far Left

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President Trump Responds to DNI Gabbard Departure, “Principal Deputy Director of National Intelligence, Aaron Lukas, will serve as Acting Director of National Intelligence”

The Last Refuge

1 hour ago

President Trump Responds to DNI Gabbard Departure, “Principal Deputy Director of National Intelligence, Aaron Lukas, will serve as Acting Director of National Intelligence”

President Trump announces via Truth Social, “Principal Deputy Director of National Intelligence, Aaron Lukas, will serve as Acting Director of National Intelligence” following the departure of DNI Tulsi Gabbard on June 30, 2026. [SOURCE] Aaron Lukas will do a solid job as ‘acting’ or as fully nominated and confirmed DNI. There will likely be a […] The post President Trump Responds to DNI Gabbard Departure, “Principal Deputy Director of National Intelligence, Aaron Lukas, will serve as Acting Director of National Intelligence” appeared first on The Last Refuge.

Far Right

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White House clashes with defiant cabinet member over Trump's massive cuts: report

Raw Story

2 hours ago

White House clashes with defiant cabinet member over Trump's massive cuts: report

A Trump cabinet secretary is breaking from the White House on proposed budget cuts, according to reporting by the New York Times. "The White House is asking Congress to cut the number of lawyers enforcing civil rights in schools," the Times reported on Friday. "Education Secretary Linda McMahon has told Congress she wants money to hire more."McMahon told House lawmakers last week that the proposed cuts are a "floor for hiring," the report noted. Two anonymous White House officials said McMahon is contradicting their position by framing the proposed cuts as a starting point for negotiations. The White House wants to cut staffing at the Department of Education's civil rights office by 49 percent and reduce its staff from 530 to 271, according to the Times. White House officials are expecting McMahon to work with those cuts, they told the outlet. "Public disagreements are rare between the White House and Cabinet officials," the Times noted. "The incongruity over the education budget reflects the chaotic approach the Trump administration has taken toward civil rights enforcement in schools." McMahon fired half of the Education Department's civil rights lawyers during her second week leading the department, prompting bipartisan concern "about the department's handling of civil rights enforcement," the report added. McMahon said the firings were already underway as part of the DOGE cuts. "In December, Ms. McMahon gave up on the firings in the face of mounting legal challenges and an expanding backlog of discrimination complaints in schools," according to the report. "Ms. McMahon told senators during a budget hearing in April that all of the civil rights lawyers had returned except for those who took early retirement. But public records suggest that Ms. McMahon has so far been unable to rebuild the office."A spokesperson for the Education Department, however, said they plan to "use all congressionally appropriated funds responsibly to uphold and restore civil rights enforcement." The Department of Education currently has job openings posted online for lawyers in civil rights enforcement roles.

Far Left

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Trump’s Stock Transactions Probably Aren’t Insider Trading. They’re Still a Scandal.

The Dispatch

2 hours ago

Trump’s Stock Transactions Probably Aren’t Insider Trading. They’re Still a Scandal.

The president’s financial arrangements leave the door open to conflicts and illegality.

Center Right

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Trump admin announces green card applicants must leave US and apply from home country

New York Post

3 hours ago

Trump admin announces green card applicants must leave US and apply from home country

Maye Musk reacted by recounting her own lengthy green card process as a Canadian immigrant.

Right

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Tulsi Gabbard resigns as intel chief, fourth member of Trump's Cabinet to depart

Politics - CBSNews.com

4 hours ago

Tulsi Gabbard resigns as intel chief, fourth member of Trump's Cabinet to depart

Director of National Intelligence Tulsi Gabbard resigned on Friday from President Trump's Cabinet. Weijia Jiang has more on this and the latest on the Iran war.

Center

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Transcript: Trump in Visible Panic after Truly Brutal Fox Poll Hits

The New Republic

4 hours ago

Transcript: Trump in Visible Panic after Truly Brutal Fox Poll Hits

The following is a lightly edited transcript of the May 22 episode of the Daily Blast podcast. Listen to it here.Greg Sargent: This is The Daily Blast from The New Republic, produced and presented by the DSR Network. I’m your host, Greg Sargent.Donald Trump just got hit with an absolutely crushing poll from Fox News. Disapproval of Trump on the economy is at a new high, and his ratings on inflation are simply awful. This includes among Republicans. In that context, Trump’s rambling to reporters Thursday was revealing. He again urged Republicans to pass draconian voter suppression legislation, but he accidentally admitted that this is about preventing Democrats from winning elections. And on top of all that, Republicans are revolting against Trump in a fresh way. Things are really falling apart for him. Can we sustain this through election day?We’re talking to MS NOW opinion editor James Downie, who has a good piece laying out how Trump is hitting all kinds of historic lows. James, nice to have you on.James Downie: Great to be back.Sargent: So let’s start with Trump’s ramblings to reporters. He brought up the SAVE Act, which is a vile piece of voter suppression legislation that would probably disenfranchise millions of people, and then said that Democrats are trying to block it. Listen.Donald Trump (voiceover): The Democrats don’t want to pass. Now, I’ll tell you what, the Democrat voters do want to pass, 87 percent. But the Democrat politicians don’t want to pass. And the reason is they’d never be elected again. Because with their policy of open borders, transgender for everyone—I call it transgender mutilization of your children for everybody—men playing in women’s sports, all of the stuff that they do, high taxes. They want a tax hike …Sargent: It’s complete nonsense that Democratic voters want to pass the SAVE Act. But note how Trump openly says there that passing it would mean Democrats never win another election. He actually says straight out that his voter suppression bill would lead to one-party rule in the GOP’s favor and that this would be good. Your reaction to that, James?Downie: The clip practically speaks for itself. From the beginning of this presidency, but particularly in the last couple of months, we’ve seen, from the so-called weaponization fund to the arch to all sorts of efforts at self-enrichment, this is a man who more than ever wants to avoid accountability. And the only way to do that is to stay in power forever. The fact that he is pushing this SAVE Act—versus, say, a bill to help the economy or to bring down gas prices by ending the war with Iran—shows that he isn’t really interested in winning voters over in any sort of regular, normal way. He’d rather cheat and he’d rather rig the election. Sargent: Everything is about his monuments to himself and about preventing accountability for those things. That’s where we are.Literally everything Trump talks about, pretty much all the time, is the arch, the ballroom. Now he’s got this new $1.8 billion slush fund that he’s going to use to reward allies. That’s got to be lumped in with voter suppression as yet another way to try and corruptly rig the system.Downie: Absolutely. The slush fund can be seen as—and my colleague Zeeshan Aleem at MS NOW has written about this—not only rewarding past insurrection attempts, but a promise to people who are considering insurrection attempts in the future that this is a way you can get money, that there will be something there for you on the other side of it.Sargent: Totally. This week’s Fox News poll is really something else. Trump’s approval among registered voters on the economy is 29 percent; 71 percent disapprove. These numbers have risen substantially in recent months. James, this is looking like something pretty close to total collapse on the economy, wouldn’t you say?Downie: Absolutely. Not just on the economy, although that is the most outstanding number—but total collapse in general. You see a big movement, particularly on the economy, in the last two to three months as gas prices have spiked because of the Iran war. It’s brought down his opinion polls in general. We’re seeing more and more movement toward the mid-thirties or even low thirties that is traditionally the floor for any president. It takes a lot of effort to reach those numbers—a lot of almost deliberate incompetence.Sargent: I want to read a couple more numbers here. On foreign policy, he’s at 38 percent to 62 percent. On inflation, he’s at 24 percent to 76 percent. Seventy-six percent—that’s more than three-quarters of the country disapproving of his handling of the single most important issue to voters right now. He’s even crept underwater on border security as well, which was literally the one thing where he was staying above water. He’s now underwater on that as well. And this is in a Fox News poll. I was struck by the write-up.

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Tulsi Gabbard Resigns as Trump's Director of National Intelligence

TIME

4 hours ago

Tulsi Gabbard Resigns as Trump's Director of National Intelligence

Gabbard cited her husband's cancer diagnosis, but differed with others in the Administration on Iran.

Center Left

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