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Norm Eisen: These Trump Financial Deals Should Be Investigated

By dianeravitch
April 16, 2026 //
1

Norm Eisen was the White House ethics officer during the Obama administration. There were no financial scandals during the Obama administration; President Obama did not profit from his office during his presidency.

The financial conflicts of interest during the Trump administration are too numerous to mention.

Norm Eisen was especially disturbed by one of them and asked the Trump-controlled SEC to investigate.

This post is also an advertisement for The Contrarian, where this post appeared. It is a premier site for those trying to save democracy from Trump’s authoritarianism and grifting.

Eisen writes:

When I was the Obama White House ethics czar during the Great Recession, I would not even allow the president to refinance his modest family home in Chicago. He was regulating the banks in a time of crisis, and it wouldn’t have looked right.

That’s not exactly the approach that President Trump, his cronies, and their families have adopted. I’ve written before about the Top 10 most outrageous corruption scandals of this administration. This week, my Democracy Defenders Fund colleagues and I added another item to the list. Working with former New Jersey Attorney General Matt Platkin, we filed a complaint with the Securities and Exchange Commission urging it investigate ALT5 Sigma(ALTS).

This company boasts Trump’s son Eric as a board member and Trump Special Envoy Steve Witkoff’s son Zach as its board chair. Its history in recent months is one of serious failures of compliance, breakdowns of governance, and profoundly concerning financial connections with another Trump and Witkoff-linked venture, World Liberty Financial (WLF).

The story starts in August, when ALTS told the world that it had raised $1.5 billion through various investment vehicles. ALTS then moved the money to WLF by buying $750 million of its $WLFI governance tokens, about 7% of total supply. As detailed in our letter, “ALTS appears to have steered as much as $500 million of private investor money directly into the pockets of the Trump family and their associates.” When this money hit their wallets, Zach Witkoff (co-founder and CEO of WLF) and Eric Trump (also a WLF co-founder) assumed leadership roles on the board of ALTS.

These facts give rise to questions that are of the utmost importance to the integrity of our financial markets and of our democracy, as our letter explains. The most profound: who were the investors who funded the ALTS $WLFI purchase–and did they do so in order to get in the good graces of the Trump administration?

The concerns about this transaction are only deepened by what went on in the period in and around this massive financial transfer to WLF. In August, ALTS disclosed that several months earlier a Rwandan court had ruled that ALT5 Sigma Canada Inc., a subsidiary of the company, and its former principal were criminally liable for illicit enrichment and money laundering, ordering imprisonment, fines, and dissolution of the subsidiary. Shortly thereafter, the CEO of ALTS was suspended without explanation, auditors changed multiple times within just a few weeks, and the company failed to meet the due date for filing its annual report. It’s little wonder that ALTS was at risk of being delisted from Nasdaq and its share price has plummeted. Despite the immense capital influx from these transactions, the share piece has declined by around 75%. The company is looking at hundreds of millions of dollars in losses for the 2025 fiscal year.

Given these troubling data points, our letter urges the SEC’s Enforcement Division to “carefully examine these issues because they indicate, both individually and collectively, that ALTS may have engaged in a number of securities violations, thereby harming investors and financial marketplace writ large.” This is not just a story about corporate governance. It is a test of whether the rules that protect investors and the integrity of American markets still apply when political power and private profit intersect.

Our SEC letter calling for an investigation of ALTS is just one of many similar filings we’ve made. This one is outrageous enough that even Trump’s SEC may investigate. But whatever they do, we’re laying down a marker for the press, the public and other enforcement authorities. Whether for state attorneys general and securities regulators, a future more independent Congress, or future federal regulators, there will be a trail of breadcrumbs to follow. Meanwhile, we must all demand answers.

Our ability to continue pushing back against Trump and his cronies’ web of dubious dealings is, of course, supported by your paid subscriptions. We are deeply grateful that you Contrarians make this work possible as well as our weekly pro-democracy Contrarian coverage. See for yourself in this week’s roundup of our best content produced by my terrific colleagues:

War Crimes

What Comes From the Failure to Confront Insanity

Jen Rubin wrote on the cascade of civil and political failures behind Trump’s genocidal threats on Tuesday: “some muddled tale of a diplomatic breakthrough should in no way diminish the illegality, the horror, or the frightful intrusion of religious zealotry into our politics.”

The Strategic Gift to Tehran

Brian O’Neill wrote on how Trump and Israeli Prime Minister Benjamin Netanyahu may be helping to produce the strongest Islamic Republic since 1979. “It would be one of the great strategic self-inflicted wounds in Middle East policy.”

Toxic Religious Rhetoric & Why a Ceasefire in Iran Isn’t Enough

On the podcast this week, Jen spoke with Robert P. Jones about Defense Secretary Pete Hegseth’s crusader rhetoric and the dangers of Trump’s “refrigerator-magnet style” theology, and with Joyce Vance about Iran after the ceasefire, the Republicans finding a shred of conscience, and more.

Break Glass

Norman Ornstein thinks it’s time to call an emergency an emergency and invoke the 25th Amendment. “We have a malignant narcissistic psychopath as president, with control over the military and the atomic arsenal, who is deteriorating mentally before our very eyes.”

Cabinet Chaos

What Pam Bondi Destroyed in One Year Could Take Decades to Rebuild

Stacey Young wrote on just how much Pam Bondi’s reign as AG degraded the Justice Department: an exodus of talent, criminal cases shut down, an utter loss of good faith with the courts and more. “Now, the best way we can fight for the department is from the outside.”

Which Cabinet Member is Next on The Chopping Block?

Sen. Sheldon Whitehouse (D-RI) joined Jen to consider the next attorney general—and the next vacant cabinet seat—amid war with Iran. “I think Kash Patel stands a very good chance of being shown the door.”

The Home Front

Texas Stripped 15,000 Businesses of Opportunity. Now It Faces a Legal Challenge.

Stacey Abrams wrote on how Republicans have made disadvantaged communities a scapegoat for failed economic policies, including a Texas comptroller who quietly decertified more than 15,000 minority- and women-owned businesses in December.

Don’t Forget About Minnesota

Annastacia Belladonna-Carrera of Common Cause reminded us that, despite what the Trump regime claimed, ICE has never left Minnesota and is continuing operations across the state. “The media may not be all over it … but the need is still there.”

No Farms, No Food

John Boyd, founder of the Black Farmers Association, spoke to April Ryan to sound the alarm on Trump’s devastating attack on small and minority farmers. “There’s going to be a lot of generational land that changes hands.”

Affordability is the Issue, Especially for Childcare

Jennifer Weiss-Wolf wrote on how the Trump administration is putting the onus on states to fund social services — while making it impossible for them to provide those services.

Checking in With the Bots

5 Things You Should Know About AI Right Now

Amid the many hype and doom cycles about AI, Adam Conner of the Center for American Progress gave us a breakdown of what AI is actually doing right now — to the economy, to warfare, to your job.

How the Media is Helping AI Spread Lies

Josh Levs wrote on the problem with AI summaries having taken the place of traditional media as the first source of information for many, even when it comes to war — and how this is compounded by the media’s acquiescence to AI-first search.

History Has Its Eyes on You

Operation Enduring Glory

Tim Dickinson gave us a rundown of all the things Trump is naming after himself, which somehow includes both the Institute of Peace and the “most lethal warship ever built” at the tip of the iceberg.

The Infuriating Hypocrisy of Usha Vance

Meredith Blake checked in with the second lady, who thinks kids should read more but doesn’t have much to say about the Trump administration defunding libraries (or anything else).

Split Screen: Giorgia Meloni — Feminist or Fascist?

Azza Cohen took a nuanced look at Giorgia Meloni, Italy’s first female prime minister, as both gender-empowerment opportunist and persevering target of media sexism. “That a woman can be the head of a political party named ‘brothers’ is some kind of ironic victory.”

Fighting Back

The Contrarian Covers the Democracy Movement

This week, we saw anti-war protests nationwide in New York, Illinois, Washington, D.C., Missouri, Tennessee, and more. Get help organizing from Indivisible, find protests in your area at mobilize.us, and send us your protest photos at submit@contrariannews.org.

This Congresswoman Is Jamming the Gears of Trump’s Chaos Machine

Rep. Sylvia Garcia (D-TX) joined Jen Rubin with an update on the ongoing standoff over ICE funding and why there is still cause for hope. “The point really is people’s freedoms … so we’re not going to vote for one more penny until these reforms are done.”

Culture, Cartoons & Fun Stuff

This week, our cartoonists took on hollow wins (Rescue from Iran, Nick Anderson), obvious losses (Both Sides Win, Michael de Adder), better worlds (Tom the Dancing Bug, Ruben Bolling), and more.

The Auriemma/Staley Spat is Good for Women’s College Basketball

Carron J. Phillips wrote on how the 2026 Women’s Final Four will be deservedly remembered for one thing — and it wasn’t the championship game. “Sports are more enjoyable when what’s at stake is more than the final score.”

This column is based on our letter and associated materials

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Categories Accountability, Corruption, Democracy, Elections, Ethics, For-Profit, Fraud, Trump

Shawgi Tell: The Pace of Crime and Corruption in Charter Schools Continues

By dianeravitch
April 10, 2026 //
2

With the rapid spread of vouchers, which are busting the budgets of several states and tearing down the wall of separation between church and state, it’s easy to overlook the danger posed by charter schools. Charter schools are a strong step towards vouchers, replacing neighborhood schools with consumerism. Almost 90% of American students attend public schools. We should be funding those schools, not schools operated by private boards and religious groups.

Dr. Shawgi Tell reminds us that charter schools continue to breed corruption and fraud, as they drain resources from public schools. Charter schools are not subject to the same accountability as public schools. They operate under private management, which shields them from the accoubtabilty to which public schools are subject. Without oversight or accountability, bad things happen.

Dr. Tell is a professor of education at Nazareth University in Rochester, New York.

He writes:

Even though they make up only 8% of schools in the country, crimes, scandals, and arrests take place at a robust tempo in the nation’s privately-operated charter schools.

These non-stop wrongdoings usually include fraud, embezzlement, harassment, and a range of sex crimes.

This is not surprising given the weak accountability, transparency, and background checks that have plagued the crisis-prone charter school sector for more than 30 years.

A small sample of headlines from just this year speaks volumes:

·        Cedar Rapids Prep Charter principal terminated this week as second harassment charge is filed (The Gazette, April 3, 2026).

·        Las Vegas charter school assistant principal arrested on child abuse charges (FOX5, March 23, 2026).

·        L.A. charter school teacher accused of assaulting 6-year-old girl (2UrbanGirls, March 21, 2026).

·        Little Elm charter school teacher arrested for child sex crimes (FOX 4, January 30, 2026).

·        $25M swindled by fraudulent charter school recovered for San Diego K-12 students (City News Service, January 30, 2026).

·        Owner of Newark charter school accused of stealing wages from teachers (NBC Bay Area, January 21, 2026).

·        Former New Orleans charter school may have improperly spent more than $600,000, audit says (NOLA, January 21, 2026).

·        Former Midlands charter school teacher arrested for allegedly assaulting student (WIS, January 14, 2026).

·        North Carolina charter school teacher charged with multiple child sex crimes, including against a student (FOX 8, January 3, 2026).

Do such horrible things happen in traditional public schools and private religious schools? Yes they do, but when looking at scale, scope, frequency,  and proportionality, they are considerably more rampant in charter schools, which are deregulated businesses governed by unelected private persons.

The privatization and marketization of education lends itself to such phenomena on a broad scale. Privatization increases corruption and lowers standards across a broad range of operations, roles, and services. Converting public programs and services into capital-centered programs and services usually enriches a handful of people while harming the public interest in the process. When programs and services focused on uplifting people and society are transformed into profit-maximizing entities, the majority suffers.

See here for more examples of charter school crimes and scandals.

Shawgi Tell (PhD) is the author of Charter School Report Card. He can be reached at stell5@naz.edu 

Categories Accountability, Charter Schools, Corruption, Education Industry, Failure, For-Profit, Fraud

Trump Finds New Ways to Put Your Money in His Bank Account

By dianeravitch
April 7, 2026 //
9

Attorney Dina Doll wrote this article for the Meidas Touch Network. She describes the ways that Trump is moving government funds–your taxes–directly into his pockets. The man’s a wizard.

She writes:

Davos, Switzerland. 2026 Jan 22. President Donald Trump participates in the Board of Peace Signing Charter Announcement and Signing Ceremony at the Annual Meeting of the World Economic Forum. Editorial credit: Robert V Schwemmer / Shutterstock.com

You didn’t buy the Bible. You didn’t mint the coin. You didn’t sign up for Trump University or bid on the NFTs or book a room at Mar-a-Lago. You opted out of every scheme, every hustle, every grift and it didn’t matter. Because while you were watching an illegal war burn through a billion dollars a day and TSA workers suffered because Congress couldn’t find the money to pay them, Trump was doing something quieter. He was taking yours.

Trump has grifted his entire life. Now he’s just taking it.

The State Department transferred $1.25 billion in foreign aid to Trump’s Board of Peace, pulling $1 billion from international disaster assistance, $200 million from peacekeeping operations, and $50 million from international organizations. Money that Congress authorized for hurricanes and refugees, moved without a congressional vote, into a fund that Trump created by executive order and controls personally. When reporters asked the State Department about it, a spokesperson said they had nothing to announce at this time.

The Board of Peace has one defining characteristic. Trump controls it forever. He named himself chairman for life. No audits. No transparency requirements. No conflict of interest rules. Countries pay $1 billion into a fund he runs to get a seat at the table. It has transferred nothing to Gaza, disclosed nothing about its spending, and received $1.25 billion of your disaster relief money without a word of explanation.

When he leaves the White House he keeps the fund. That is not a loophole. That is the design.

Of course, that’s not the only action Trump has recently taken to pay himself straight from the taxes Americans pay to the federal government. Trump filed a $10 billion lawsuit against the IRS over the leak of his tax records by a contractor. The problem, beyond the absurdity of the number, is that Trump controls the government he is suing. He confirmed it himself: “I’m supposed to work out a settlement with myself.” The DOJ attorneys who would defend against this lawsuit serve at his pleasure. Bondi is literally the only thing protecting the American people from Trump’s attempt to steal billions of our hard-earned money. Which means, there is an ineffective counsel sitting at the defense table for the American people, Trump on the other side of the negotiating table and Treasury Secretary Scott Bessent ready to sign the check.

He went from selling people something worthless to skipping the transaction entirely.

Disaster relief money in a fund he controls forever. A $10 billion lawsuit against himself with your money as the prize. A billion dollars a day on an unauthorized war while TSA workers went without pay and American healthcare credits slashed.

There was always money. It just wasn’t going to you.

The grift required something from you. A purchase. A click. A willing suspension of disbelief. You could say no to the Bible. You cannot opt out of your tax dollars. You have already paid. The question is whether enough people understand what is being done with that money to make enough noise that someone has to answer for it.

Americans do not like cheaters. The reason the fraud of Trump’s University landed everywhere it landed was because the story was simple. He took money from people who trusted him and gave them nothing back.

This is that story. Bigger numbers. Higher office. No brochure required.

Tell someone who doesn’t know. The noise is the only friction left.

Dina Doll is: Legal Analyst/Attorney/Community Leader/Mom MeidasTouch Host & Legal AF Contributor/ I explain the law because the law belongs to us all

Categories Corruption, Ethics, For-Profit, Trump

A Must-Watch Interview: Heather Cox Richardson and Timothy Snyder

By dianeravitch
March 30, 2026 //
2

This is a very important interview, a thoughtful discussion between two remarkable people.

Two historians talk about Trump tyranny, the rule of oligarchs, and the power of the fossil fuel industry.

Snyder reminds us of the importance of the November elections. It’s our chance to put limits on the oligarchs and authoritarians.

Categories Accountability, Billionaires, Censorship, Corruption, Courage, Democracy, Elections, Ethics, Evil, Extremism, Fascism, Freedom, Trump

A New Declaration of Independence by an Angry Citizen: NO KINGS!

By dianeravitch
March 28, 2026 //
7

Donald Trump’s serial depredations and violations of the law and Constitution inspired a retired educator to write a new Declaration of Indepence, tailored to a new age.

He wrote as follows:

Whereas the people of these United States of America have given their lives in defense of our country, let not the federal usurper attempt to crown himself king and return to the time of George III.

Our populace will rise up and demand a return to the rule of law and civil discourse on issues confronting us. Have no kingly proclamations discourage us from following the traditions and norms of our 249 years. We do not live in the time of the divine right of kings. Our government derives from the will of the people and our rights cannot be dissolved by a false monarch. The strength of our democracy always lies with the hopes of our populace.

In all of our country’s existence we have never faced such an evil. We are not accustomed to a fraud who would besmirch our constitution and attempt to rule with his own pronouncements. He has divided us into many differing camps and beliefs with his lies that he will continue to separate us.

His claims that we are being invaded by groups of nefarious cutthroats that are bent on taking over our country are untrue. He will then be able to declare martial law and use all of the levers of government to suppress all protest activities. Now is the time for all good men and women to come to the aid of their country.

He has not complied with the laws and disregards our judiciary.

He has enriched himself by accepting emoluments from foreign countries, princes and oligarchs.

He has deliberately favored states that voted for him and disavowed those who did not.

He has supported taxes that would enrich the wealthy and deprive the poor.

He has endeavored to make judges bend to his will.

He has plundered our economy and dissolved our relationship with our allies.

He has abducted our people in public places- schools, places of worship, and public buildings.

He has threatened our institutions of higher learning if they did not bend to his will.

He has erected a multitude of new offices in the federal government to dispose of thousands of dedicated public servants.

He has restricted the entry into our country of the brightest young people in the world.

He has aligned himself with our enemies and supports their tyranny.

He has installed a health secretary who is destroying our health system and our capability to do health research.

He has encouraged and pardoned 1500 people who tried to overthrow our government.

His sycophants mock our populace and threaten to jail them if they are not compliant with his wishes.

He is, at this time, transporting armies of masked hoodlums to complete the works of death, desolation and tyranny, already begun with circumstances of cruelty, perfidy, scarcely paralleled in the most barbarous ages, and totally unworthy as the head of a civilized nation.

At every stage of these oppressions, we have petitioned for redress of these grievances. We have asked in a most civilized manner. Our petitions have been answered in only the most desultory and vengeful actions. A president whose character is marked by every act which may define a tyrant is not fit to be the leader of our country.

We have been warning our legislative representatives of the danger of these usurpations. They are fearful of his retributions both political and personal. We have entered the justice system in the highest court of the land to create estoppel. Their decisions do not seem to impede the leader’s desire to remake our democracy into an autocracy. The monied interests have formed a choral group for the president. Their support and their largesse have given him impetus to continue his cruelty. No inhabitants of our land are safe from his reach. Children of any age have felt his sting and have been spirited away.

We, therefore, the people of the United States of America, in Assembly, appealing to the Supreme Judge of the world, and the populace, solemnly publish and declare, that these United States of America are and have a right that our allegiance to the current regime will be absolved if the governing bodies of our federal legislature refuse to restrain the president from his policy of revenge and destruction of our country. And for the support of this Declaration, with a firm reliance on the protection of divine providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.

Attest.

Signed by Order and in behalf of the American People

Charles Bryson

                                                                             Jeremiah Foyle

Categories Corruption, Cruelty, Democracy, Evil, Extremism, Fascism, Freedom of Speech, Freedom of the Press, Freedom to Learn, Freedom to Read, Funding, History, Resistance, Trump

International Report: Democracy in the USA is in Jeopardy

By dianeravitch
March 27, 2026 //
2

The Department of Political Science at the University of Gothenburg in Gothenburg, Sweden, publishes an annual report on the state of democracy around the world. In the recently published report, the authors made clear that democracy in the world is in retreat. Nowhere has it declined as dramatically as in the United States.

A special section of the report is focused on the United States. Under Trump, democracy in the USA is under attack. The President has centralized power in his office. The Republican-dominated Congress has ceded almost all of its Constitutional powers to Trump. The word “almost” may be an overstatement, as it’s difficult to remember an issue when Congress said no to a Presidential power grab.

The V-DEM report begins its special section about the “autocratization” of power in the United States:

*Under Trump’s presidency, the level of democracy in the USA has fallen back to the same level as in 1965.

Yet the situation is fundamentally different than during the Civil Rights era. In 2025, the derailment of democracy is marked by executive overreach undermining the rule of law, along with far-reaching suppression and intimidation of media and dissenting voices.

*The speed with which American democracy is currently dismantled is unprecedented in modern history.

*Legislative Constraints – the worst affected aspect of democracy – is losing one-third of its value in 2025 and reaching its lowest point in over 100 years.

*Civil Rights and Equality before the Law are also rapidly declining, falling to late 1960s levels.

*Freedom of Expression is now at its lowest level since the end of WWII.

*Electoral components of democracy remain stable. Election-specific indicators are re-assessed only in electoral years, and the 2025 scores are based on the quality of the 2024 elections.

The scale and speed of autocratization under the Trump administration are unprecedented in modern times. Within one year, the USA’s LDI score has declined by 24%; its world rank dropped from 20th to 51st place out of 179 nations. The level of democracy on the LDI is dwindling to 1965 level – the year that most regard as the start of a real, modern democracy in the USA.

Yet the deficiencies of American democracy today are fundamentally different from that of the Civil Rights era. As the V-Dem data and other evidence below show, the autocratization now is marked by executive overreach, alongside attacks on the press, academia, civilliberties, and dissenting voices.

The Most Dramatic Decline in American History

In 2023, the USA scored 0.79 on the LDI – shortly before the 2024 election year when first deteriorations were registered. The scores plummeted to 0.57 in 2025 (Figure 22). With such a sharp drop on the LDI, the level of democracy at the end of 2025 is back to the 1965 level. Symbolically, that is the year that most analysts consider the USA began its transition to a real democracy.

Democracy in the USA is now at its worst in 60 years. We are not alone in this assessment. Professor Steven Levitsky at Harvard University says the regime in the USA is now some type of authoritarianism. The Century Foundation argues that “American democracy is already collapsing…”

By magnitude of decline on the LDI, the 2025 plunge is the largest one-year drop in American history going back to 1789 – that is, in the entire period covered by V-Dem data. Only Trump 1.0 compares, when the LDI in the USA fell from 0.85 to 0.73 in four years, bringing the country back to its 1976 level and far below the regional average (Figure 22). American democracy survived Trump 1.0 but did not recover fully.

One notable shift is the transformation of the Republican Party to endorsing a far-right, nationalist, and anti-pluralist agenda. Nationalist, anti-liberal, far-right parties and leaders have largely driven the “third waveof autocratization.” Yet the USA stands out as the only case where such movement seized control over one party in a rigid two-party system.

Please open the link and read the report to review the sources and to understand how dramatically democracy has been undercut during the first year of Trump’s second term.

The Founding Fathers thought they had written a Constitution that would prevent the rise of tyranny. They were wrong.

Categories Academic Freedom, Bigotry, Censorship, Civil Rights, Corruption, Cruelty, Democracy, Disruption, Environment, Ethics, Extremism, Fascism, For-Profit, Freedom of Speech, Freedom of the Press, Freedom to Learn, Freedom to Read, Gender, Health, Privatization, Separation of church and state, Trump

Jennifer Rubin: The Republican Crack-Up

By dianeravitch
March 26, 2026 //
4

Jennifer Rubin was a columnist for The Washington Post who departed when publisher Jeff Bezos bent his knee to Trump. Rubin, a journalist and lawyer, knows that Trump is a dangerous demagogue. She says in this piece that Republicans complain privately about Trump but refuse to stand up to him. They will pay for their cowardice in November, as they have in every special election since Trump returned.

Silence is complicity.

Rubin founded The Contrarian, an immensely popular blog, where this article appeared.

She wrote:

Republicans made a calculated bet that by indulging Donald Trump’s ill-conceived and cruel schemes (e.g., unleashing ICE on cities, tariffs, wars with Venezuela and Iran, slashing healthcare to pay for tax cuts for the rich), the country would somehow stumble through. They figured congressional Republicans would share in any successes but somehow avoid any blame when things (inevitably) went haywire. Politics rarely works out that way.

(Credit: Office of Speaker Mike Johnson)

Through Trump’s Iran War, shutdown of the Department of Homeland Security, futile effort to pass a Jim Crow-style voter suppression act (the so-called SAVE Act), and inflation-aggravating tariff scheme, Republicans are discovering they are tied at the hip with Trump. Refusing to deviate from his dictates, they will bear the brunt of his serial failures.

Whether the Iran War ends this month or months from now, Republicans cannot escape responsibility for the massive expenditure of taxpayer dollars, loss of life, rise in energy costs, regional instability, and damage to alliances Trump has wrought. Congressional Republicans refused to invoke the War Powers Act — or even to conduct meaningful oversight hearings — and applauded a senseless, unconstitutional war. Now they seem prepared to rubber-stamp a preposterous demand for $200B more in war spending. Republicans will have no place to hide come November when voters come looking for politicians to blame.

The latest CBS/You Gov poll has nothing but horrendous news for the Iran war cheerleaders: 90 percent say the war will make gas prices higher in the short term, 58 percent over the long term; 63 percent predict it will weaken the economy (a plurality assume we will be in a recession); a plurality of 49 percent think the war makes us less safe; and 57 percent say the war is going badly. Some 62 percent disapprove of how Trump is handling the war. Perhaps Republicans should have fulfilled their constitutional obligations rather than contenting themselves with sitting on the sidelines.

Meanwhile, Trump’s web of lies about immigrants and voting fraud have entangled him and Republicans in a political knot. Trump’s lie about mass voting fraud drove him to insist on the unpassable voter suppression SAVE Act. He then made that a precondition for any deal to resume DHS funding. Even to Republicans, this made no sense.

When Senator John Thune (R-SD) initially recommended that Trump agree to Democrats’ proposal to pass a DHS funding bill that would pay for TSA, FEMA, and the Coast Guard (leaving ICE funding for later negotiations), Trump rebuffed him. By Monday night, however, Trump was considering a deal to do just that, namely to fund the rest of DHS and handle funding for ICE in reconciliation.

What happened between his refusal to relent on funding and his capitulation? Trump trotted out another senseless and entirely performative maneuver: deploying ICE to airports. ICE agents, untrained for any TSA duties, stood around with virtually nothing to do (reminding one of the National Guard deployed to D.C., who largely loiter around metro stations). This underscores Republicans’ responsibility for bollixing up air travel, Trump’s feebleness in resolving messes of his own making, and the dangerous transformation of ICE into a roving street militia Trump deploys to intimidate and harass Americans.

All the ICE/airport stunt accomplished was to trigger a robust blowback from Democrats and civil society groups, demonstrating once again Trump’s talent in supercharging the Resistance. Deploring Trump’s use of ICE as his “personal dystopian police force,” Public Citizen observed: “The confluence of authoritarian overreach of this moment is striking.” The ACLU likewise condemned using ICE at airports “despite their lack of training for airport security and interactions, and their clear track record of abusing their power, including through using excessive force against citizens and immigrants alike.” (Unsurprisingly, this venture, the ACLU noted, was the first time a president “sent armed ICE agents to airports to replace trained security agents and instill fear in families and other travelers.”)

Trump’s compounding calamities have fractured Republicans internally. Cultists demand perfect fidelity to Trump on the war abroad and bullying at home; others fret that a war betrays their America First ideology and the SAVE Act is a legislative cul-de-sac that now compounds the DHS shutdown disaster. (MAGA provocateur Sen. Mike Lee of Utah has become a chief enabler of Trump’s destructive schemes, “sparking a wave of mostly private animosity from GOP colleagues who believe his plan to push through legislation overhauling how federal elections are conducted is ill-conceived and potentially harmful to the party’s chances in the midterms,” Politico reports.)

Republicans fret privately that the Trump reign of chaos, coupled with the highly unpopular war, spells doom for them in November. One is tempted to ask about the private Republican hand-wringing: 

What did Republicans think would happen when they fully empowered a delusional narcissist, one who is so clearly ignorant of government and keen to pursue his own wealth and power, the country be damned?

Some dim-witted MAGA Republicans remain true believers and actually think Trump’s antics will pay off. Others know Trump is nuts and recognize the party is headed for disaster, but lack the courage to say so. They are banking that they will survive the blue wave coming in November to fight another day. Their lack of patriotism may be galling, but their self-preservation strategy looks increasingly daft.

The damage Trump and his flunkies have inflicted on our democracy will reverberate for years to come. American families may take years to recover from the economic hits. It is a small consolation that MAGA lawmakers and right-wing media stooges, who have chosen the route of cowardly compliance over constitutional duty and self-serving propaganda over truth-telling, will shoulder much of the blame. History in the long run and voters in the near term will hold Republicans fully accountable for the blunders they countenanced.

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Categories Bigotry, Corruption, Cruelty, Democracy, Disruption, Ethics, Evil, Extremism, Fascism, Republicans, Shame, Trump

Paul Krugman: Treason in the Oil Markets

By dianeravitch
March 25, 2026 //
14

Paul Krugman, Nobel-Prize winning economist, writes about shady speculation in the oil futures market. He says it’s not just insider trading, it’s treason.

He writes:

Source: Yahoo Finance


Over the weekend Donald Trump threatened dire vengeance on Iran unless its government opened the Strait of Hormuz within 48 hours, a deadline that would expire Monday evening in Washington. Specifically, he announced that the U.S. would begin bombing power plants — plants that supply electricity to Iran’s civilian population — unless the Strait was cleared.

But at 7:05 AM Monday Trump called the whole thing off — for five days, he said, but many people are assuming that the threatened action, which would have been a massive war crime, is now off the table.

The reason for the about-face, he claimed, was that the U.S. was engaged in productive negotiations with Iranian officials — although this seems to have come as news to the Iranians, who denied that any such negotiations are taking place. Sad to say, in this case, as I tried to explain yesterday, the fanatical, brutal Iranian regime is more credible than the president of the United States. Is he lying or living in a fantasy world? Neither possibility is comforting.

But in any case, Trump’s sudden climb-down was startling. Who could have seen this coming?
The answer is, the person or people who bought large quantities of stock market futures and sold large quantities of oil futures around 15 minutes before Trump’s announcement. As CNBC reports,

At around 6:50 a.m. in New York, S&P 500 e-Mini futures trading on the CME recorded a sharp and isolated jump in volume, breaking from an otherwise subdued premarket backdrop. With thin liquidity typical of early trading hours, the sudden burst stood out as one of the largest volume moments of the session up to that point.
A similar pattern was observed in oil markets. West Texas Intermediate May futures also saw a noticeable pickup in trading activity at roughly the same time, with a distinct volume spike interrupting otherwise quiet conditions.

This “sharp and isolated jump in volume” — which you can see for the oil futures market in the chart at the top of this post — was especially bizarre because there were no major news items — no major publicly available news items — to drive sudden big market transactions. The story would be baffling, except that there’s an obvious explanation: Somebody close to Trump knew what he was about to do, and exploited that inside information to make huge, instant profits.

This wasn’t the first time something like this has happened under Trump. There were large, suspicious moves in the prediction market Polymarket before previous attacks on Iran and Venezuela. But this front-running of U.S. policy was really large: the Financial Times estimates the sales of oil futures in that magic minute Monday morning at about $580 million, and that doesn’t count the purchases of stock futures.

When officers of a company or people close to them exploit confidential information for personal financial gain, that’s insider trading — which is illegal. But we have another word for situations in which people with access to confidential information regarding national security — such as plans to bomb or not to bomb another country — exploit that information for profit. That word is “treason.”

Why is profiting from insider information about national security decisions effectively a form of treason? First, it’s hard to think of a more fundamental principle for officials we entrust with important decisions, especially those that involve national security, that they or people they know should not be allowed to exploit their positions for personal gain.

Second, financial trading based on what should be closely held secrets reveals information to current or potential foreign adversaries. To exaggerate a bit, but only a bit, who needs to bribe agents within the government, or recruit them with honey traps, when you can infer the same information by keeping track of transactions on futures markets?

Finally, there isn’t that big a gap between using knowledge of national secrets to make lucrative financial trades and simply selling those secrets to the highest bidder. Once you’re breached the line that says you shouldn’t profit personally from access to information that is or should be highly classified, the line between trading based on state secrets and selling those secrets directly is a blurry one.

In fact, I’d very much like to know exactly who was making those trades yesterday morning. Were they people directly in the know, or billionaires/traders who paid people in the know for tips?

I’m sure we’ll find out once Kash Patel’s FBI carries out its careful, no-holds-barred investigation.

For the humor-impaired, that was a joke. However, I do believe that the culprits will be easy to determine once Democrats are back in power, and they must apply the full force of law to the people responsible.

One question that may be harder to resolve is the extent to which the possibility of insider trading may actually have influenced policy. Are decisions about war and peace in part serving the cause of market manipulation rather than the national interest? If you dismiss this as unthinkable, you just haven’t been paying attention.

There’s a broader lesson here: You can’t trust a corrupt government to protect national security. And our government is now utterly corrupt: It’s hard to find a single senior official, from the president on down, who treats public office as a grave responsibility rather than an opportunity for personal self-aggrandizement and profit.

Among other things, deeply corrupt governments tend to be very bad at waging war, no matter how much they may exalt “warrior ethos” and “lethality.” When we do a post-mortem on how the Iran debacle happened, arrogant ignorance may still get top billing. But grotesque venality will come a close second.

Categories Accountability, Billionaires, Cheating, Corruption, Fraud, Trump

Russia: Putin Defender Turns Against Him

By dianeravitch
March 19, 2026 //
30

Former KGB agent Vladimir Putin was hand-picked by Boris Yeltsin as his successor. Yeltsin was a drunk, and he miscalculated badly in picking Putin. Instead of building democratic norms and institutions, Putin embarked on a long-term plan to restore the USSR. After serving as president of Russia from 2000-2008, he was succeeded by a puppet (Dimitri Medvedev), then resumed the presidency in 2012. The national legislature extended his term to 2036. Anyone who seriously threatens him ends up in prison or dead.

In a startling development, one of Putin’s most strident sycophants abruptly turned against him. Ilya Remeslo, a lawyer, was known as a reliable lapdog for Putin. He regularly testified in trials against Alexei Navalny.

Pjotr Sauer wrote in The Guardian:

For years, Ilya Remeslo was a reliable pro-Kremlin operator, going after critics of the regime and smearing independent journalists, bloggers and opposition politicians.

Then the 42-year-old lawyer abruptly turned on the country’s most powerful man. Late on Tuesday, Remeslo posted a manifesto to his 90,000 Telegram followers titled: “Five reasons why I stopped supporting Vladimir Putin.”

In it, he accused the “illegitimate” Russian president of waging a “failing war” in Ukraine that had caused millions of casualties and wrecked the economy, and argued that Putin’s more than two decades in power illustrated how “absolute power corrupts”, calling on him to step aside….

Doubling down on his earlier remarks, he told the Guardian on Wednesday from his flat in St Petersburg: “Vladimir Putin should resign and be put on trial as a war criminal. His personalised, corrupt system is doomed to collapse, as we’re seeing now with the war in Ukraine and elsewhere.

“The army isn’t advancing in Ukraine, and the war is going nowhere. There are massive losses. We are fighting over tiny territories that will ultimately give Russia nothing.”

He went on to criticise Putin’s authoritarian rule, the state of the economy and Moscow’s recent push to shut down internet access. “This man [Putin] has destroyed everything he could lay his hands on. The country is literally falling apart,” Remeslo said.

Please open the link and finish reading this fascinating article.

Categories Corruption, Democracy, Evil, Fascism, Freedom of Speech, Freedom of the Press, International

Adam Kinzinger: We Stopped Feeding the World So We Could Buy Lobster for the Pentagon

By dianeravitch
March 13, 2026 //
10

Adam Kinzinger is the Republican Congressman who was brave enough to say that Trump inspired an insurrection on January 6, 2021. He was brave enough, with Liz Cheney, to join the January 6 Committee investigating the insurrection. Both Kinzinger and Cheney were reviled by other Republicans for daring to question Trump’s lies.

On his blog, he speaks out with independence and courage. In this one, he describes the Pentagon’s splurge on delicacies and luxury items:

For years we have heard the same talking point from the Trump administration and its allies: government waste is the problem. The answer, they said, was to slash programs, dismantle agencies, and create flashy new outfits like the so-called fake agency Department of Government Efficiency — DOGE — to root out fraud and save taxpayer money. The pitch was simple. Government was bloated, and adults were finally back in charge.

But the reality looks very different.

According to a watchdog analysis, the Department of Defense spent $93.4 billion on grants and contracts in September 2025 alone, with nearly half of that money spent in the final five business days of the fiscal year.

Anyone who has worked inside government understands that the end of the fiscal year can become a mad scramble to spend money before it disappears, but the scale of what happened here raises serious questions about priorities.

Some of the spending is almost comical if it weren’t real taxpayer dollars. The Pentagon spent $6.9 million on lobster tail, $2 million on Alaskan king crab, $15.1 million on ribeye steak, and $1 million on salmon in September alone. There were 272 orders of doughnuts totaling $139,224, along with $124,000 for ice cream machines and $12,000 for fruit basket stands.

That same spending spree included $60,000 for Herman Miller recliners, a $98,000 Steinway piano for the Air Force chief of staff’s home, and millions spent on electronics like Apple and Samsung devices. Even more staggering, the Defense Department spent $3.5 billion on cable television services.

At the same time Americans were struggling with rising grocery costs, borrowing money just to buy food, and falling behind on car payments, the Pentagon was filling shopping carts with lobster and ribeye.

What makes this particularly jarring is that this administration simultaneously dismantled programs that actually matter to people around the world. Under the banner of eliminating waste, they gutted much of the United States Agency for International Development. For decades, USAID helped prevent famine, stabilized fragile regions, and projected American compassion and leadership around the globe.

That money fed starving people.

But apparently feeding the world was wasteful. Lobster for the Pentagon was not.

I spent years in uniform flying the RC-26B surveillance aircraft with the Air Force. It wasn’t glamorous. It wasn’t flashy. But it was effective. The aircraft supported counter-terrorism missions and provided intelligence that helped protect American troops on the ground.

In 2023, the program was cancelled.

Why? Because the Air Force didn’t want to spend about $20 million a year to keep it going.

Think about that for a moment. The entire annual cost of a program that directly supported operational missions was less than what the Pentagon spent on lobster tail in a single month. Programs that actually protect American lives were eliminated in the name of efficiency, while luxury purchases and end-of-year spending binges rolled on.

This is the fundamental problem with the politics of “waste.” The loudest critics of government spending are often the least interested in actually fixing it. They are interested in headlines and ideological targets. Programs that help poor people or foreign populations are easy political punching bags. Quiet spending inside the defense bureaucracy is not.

Now, a quick aside. Yearly budgeting and spending can be difficult. Let’s just take my personal Congressional budget per year of around $1.3 million. That covered everything from salaries, new printers, paper, and correspondence, to travel. If I went over my budget for the year, I was personally on the hook for the overspending. So naturally, we saved a lot of expenses for the end of the fiscal year so that we could make sure we stayed within the allowance. Some end of year splurging is understood, but this amount from DOD? Simply insane. 

Real fiscal responsibility is not about cutting programs that feed the hungry or abandoning alliances that stabilize the world. It’s about making serious choices about priorities.

If the government wants to talk about waste, we should start with the billions spent on furniture, electronics, luxury food, and end-of-year spending sprees that do little to strengthen national security.

Because the truth is simple.

We didn’t stop feeding the world to save money.

We stopped feeding the world so someone else could buy lobster.

Categories Budget Cuts, Corruption, Funding, Republicans
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