DML News Morning Briefing, May 4th

Today is May 4. Below are some of the stories grabbing headlines this morning. I hope you share this briefing as doing so will make you the smartest person in the room.

1. Republicans subpoena FBI for document alleging unspecified ‘criminal scheme’ involving Biden:

The Hill – Sen. Chuck Grassley (R-Iowa) and House Oversight Committee Chair James Comer (R-Ky.) are demanding a document from the FBI they say outlines an unverified and unspecified “alleged criminal scheme” involving a foreign national and President Biden when he was vice president.
Comer on Wednesday subpoenaed the FBI for the document, marking an escalation in Republicans’ investigation of Biden himself after largely focusing on the foreign business activities of his son Hunter Biden and other family members and associates. The subpoena was released publicly alongside a letter from the Oversight chairman and Grassley to FBI Director Christopher Wray and Attorney General Merrick Garland that gave a broad overview of the claims.

The two Republicans do not directly accuse the president of participating in a criminal scheme and describe the allegations that they think the FBI is aware of in broad terms with no details. In the letter to the FBI and Justice Department (DOJ) heads, the two Republicans said that based on whistleblower disclosures, they believe the FBI has possession of an unclassified FD-1023 document detailing an “alleged criminal scheme involving then-Vice President Biden and a foreign national relating to the exchange of money for policy decisions.”

Denny’s Insight: My hope is one day there truly is a formal investigation into the Biden family. I don’t find it too far fetched to believe the alphabet law enforcement agencies are primarily in the current president’s pocket, with only a few agents who are unbiased and independent from political influence. But with the likes of Wray and Garland in these positions of power, the likelihood of an FBI investigation or DOJ inquiry into President Biden, Hunter or anyone in that family is on par with Marianne Williamson’s chances to win the presidency.

2. Jamie Foxx breaks silence amid mystery ‘medical complication’:

Fox News – Jamie Foxx has spoken out for the first time since suffering a “medical complication” in April. Foxx took to Instagram on Wednesday writing, “Appreciate all the love!!! Feeling blessed.”

He also thanked Nick Cannon for stepping into his role as the host of FOX’s “Beat Shazam.”

Foxx was hospitalized after suffering a “medical complication” on April 11. He is “having multiple tests run” while receiving care at a medical center in Georgia, People magazine previously reported.

Foxx’s daughter, Corinne, revealed the news of the actor’s condition at the time on Instagram, writing, “Luckily, due to quick action and great care, he is already on his way to recovery. We know how beloved he is and appreciate your prayers. The family asks for privacy during this time.”

Foxx’s medical condition has not been disclosed.

Denny’s Insight: The speculation continues on what is going on with Mr. Foxx. And of course the speculation includes that Foxx is vaccine injured from the COVID-19 jab. I included the above tweet with Dr. McCullough to highlight that Foxx had some concerns with having to take the vaccine since it was mandated heavily in Hollywood. So many weeks since Foxx’s collapse, and still nothing on what’s going on… Something seems off.

3. Fox News Ratings Drop After Tucker Carlson Departure:

Breitbart – Ratings for Fox News have dropped considerably in the wake of popular anchor Tucker Carlson departing from the network. During its 8 p.m. hour, the network has dropped from a three million viewer average to a 1.65 million viewer average since the departure of Tucker Carlson; the hour was previously filled by Fox & Friends co-host Brian Kilmeade, which will then be filled by Fox News personality Lawrence Jones. Per the Washington Post:

The disparity was most stark on Wednesday, when Kilmeade’s 8 p.m. hour received an average of 1.3 million total viewers, compared with the 3 million Carlson received a week earlier — a decline of 56 percent. Overall, the network experienced a 45 percent viewership decline last week without Carlson in the host’s chair.

When Fox announced Carlson’s forced departure April 24, the network said that “rotating Fox News personalities” will fill in until a permanent 8 p.m. host is selected. The network did something similar with the 7 p.m. hour, after it was vacated by anchor Martha MacCallum, and ultimately settled on Jesse Watters as the permanent host. “Jesse Watters Primetime” has been a major success for Fox News, and Watters, who also co-hosts “The Five,” is considered a possible candidate for Carlson’s old slot.

Denny’s Insight: I honestly thought no one was going to top Bud Light’s Dylan Mulvaney sponsorship as the biggest downfall for a company this year. Fox News quite literally said “hold my beer” and takes the crown of worst decision ever made by the cable news network.

4. Lawmakers Dumped Their Shares In First Republic Bank Before The Company Collapsed:

The Daily Wire – Multiple lawmakers sold their shares in First Republic Bank in the weeks before the firm collapsed and was sold to JPMorgan Chase by financial regulators. First Republic Bank imploded on Monday, weeks after Silicon Valley Bank and Signature Bank similarly collapsed, as account holders with balances above the Federal Deposit Insurance Corporation threshold rushed to withdraw their funds. Periodic transaction disclosure forms reveal that multiple lawmakers jettisoned their shares in First Republic Bank or acquired shares in JPMorgan Chase over the past two months, a phenomenon which follows accusations that some lawmakers routinely buy stocks at opportune times and cut losses by selling shares.

The lawmakers who sold shares of First Republic Bank indeed avoided heavy losses: the firm’s stock fell from $121.54 at the beginning of the year to $3.51 at the time of the collapse.

Rep. Lois Frankel (D-FL) sold between $1,001 and $15,000 in First Republic Bank shares on March 16 and bought between $1,001 and $15,000 in JPMorgan Chase shares on March 22. Rep. Ro Khanna (D-CA) purchased between $1,001 and $15,000 shares of First Republic Bank shares on March 9 but likewise sold the same indeterminate amount of the assets on March 15, as well as purchased between $1,001 and $15,000 in JPMorgan Chase stock on both March 3 and March 14. His disclosure form said the shares belonged to his wife and dependent child.

Rep. John Curtis (R-UT) meanwhile sold between $1,000 and $15,000 in First Republic Bank shares on March 16, and the wife of Rep. Earl Blumenauer (D-OR) sold between $1,001 and $15,000 in First Republic Bank stock on March 20. Rep. Dan Goldman (D-NY) also sold between $1,001 and $15,000 in First Republic Bank shares on March 15. Rep. Nicole Malliotakis (R-NY) previously bought between $1,001 and $15,000 of stock in New York Community Bancorp, the company which would acquire Signature Bank, on March 17.

Denny’s Insight: I’m on board with the idea that lawmakers serving in Congress should be barred from participating financially in the stock market, spouses and family members included. It’s getting out of hand, and it should be a bipartisan effort. It’s been going on way too long with little to no consequences (we’re looking at you, Nancy Pelosi).

5. Musk slashes Twitter down to about 1,000 employees:

Fox Business – There are now reportedly just 1,000 full-time employees at Twitter.

Two people familiar with the company told Business Insider that the headcount is “much lower” than the 1,500 employees CEO Elon Musk had told BBC News remained on staff, particularly when excluding remaining contract workers.

The billionaire did not specify whether his total included such employees. The outlet said getting closer to 1,000 means Twitter’s workforce is down by nearly 90% from just before Musk took over earlier this year.

Hundreds of workers had left before layoffs, and Business Insider said there are now about 500 engineers left at the company.

Denny’s Insight: It sounds like Musk is chopping off the fat of the steak that is Twitter. He most likely scrapped ESG positions. The question becomes if Twitter’s giant platform can sustain itself with only 1,000 employees.