Pod Save America - First They Came for John Bolton

Episode Date: August 26, 2025

Trump's FBI raids the home of John Bolton—the former first-term Trump advisor turned vocal critic—as the President escalates his use of state power to target and threaten anyone who's criticized h...im, most recently Chris Christie, Wes Moore, ABC News, and NBC News. Jon, Lovett, and Tommy react to those threats and all of this week's fascist horrors, including the arming of the National Guard in D.C., the administration's pending deployment of troops to Chicago, and ICE's plan to deport Kilmar Abrego Garcia, the Maryland man they wrongly sent to CECOT, to Uganda unless he pleads guilty to a set of dubious charges brought against him in Tennessee. Then, economic writer James Surowiecki sits down with Lovett to talk about the Trump administration's unprecedented acquisition of Intel stock—and what it signals to other major companies.

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Starting point is 00:01:04 simplysafe.com slash crooked to claim 50% off a new system with a professional monitoring plan and get your first month free. That's simplysafe.com slash crooked. There's no safe like SimplySafe. Welcome to Pod Save America. I'm John Favarrow. I'm John Leavitt. I'm Tommy E.4. All right, buckle up. I regret to inform you. It's not all rainbows and butterflies out there today, guys. No, not a fun show. We're going to talk about Trump's plan to deploy more troops who are now armed to more cities.
Starting point is 00:01:49 Government says they're now planning on deporting Kilmar-Abrego-Garcia to Uganda because he won't plead guilty to charges that multiple judges have found flimsy at best. They also released the transcript of Gleine Maxwell's interview with the DOJ, which we'll dig into. Then we'll update you all on a few storylines that still haven't been resolved, even though they're getting less attention. And later, you'll hear Lovett's interview with the Atlantic's James Sirwiki on the Trump administration's move to take a stake in Intel and possibly other companies. Who knows? Who can say? But first, Trump and his administration have spent the last several days using the power of the state to target people who've criticized the president or just made him angry.
Starting point is 00:02:25 By now you probably know that on Friday morning, the FBI raided the home and office of John Bolton, Trump's first-term national security advisor, who's become a vocal critic of his former boss. The reporting suggests it has to do with his handling of classified information, though they haven't released much information, beyond a tweet from Cash Patel saying that no one is above the law, FBI agents on a mission, highly irregular statement from the FBI director about a raid that's in progress, to say the least. The head of the Defense Intelligence Agency was also fired following, the report that Trump's strike on Iran had only set back its nuclear capabilities by a few months, which contradicts Trump's obliterated take.
Starting point is 00:03:04 The president then spent the weekend threatening people who he thinks were unfair to him on TV. Chris Christie, Wes Moore, NBC News, ABC News. We'll get to all that in a minute. But here's Trump in the Oval Office Monday responding to questions about the Bolton rate. Search of John Bolton's home and office from Friday. Have you been briefed at him? I have not been briefed. No, I read it just like you did.
Starting point is 00:03:25 I was never a fan of his. I thought he was stupid. I thought he was, you know, a guy that only wanted to go into war. He liked killing people. I thought he was essentially a bad guy. Are more raids like the one on John Bolton's house coming? More raids? I don't know.
Starting point is 00:03:41 You'd have to ask the Department of Justice. They raided my house. I can tell you that. They did a big raid on my house. They took away everything that wasn't pinned down and they took away some of that too. How did it work out? Oh, I see. I guess it didn't work out too well for them, did it?
Starting point is 00:03:59 They are very evil, very sick people, that group. And if they would have won the election, this country wouldn't exist, as we know it. This country would have been a failed country. In the background there, you hear the South Korean president's translator. So I would enjoy having seen the camera just trained on the South Koreans president's face as he's hearing about the sick and evil people and the raids. Yeah, it's just a little embarrassing. This is like, oh, oh, right.
Starting point is 00:04:25 This is an international embarrassment. Oh, yeah. Oh, very much so. Also, every time you look up, there's more gold. It's so gold in there right now. It's on the walls, on the chairs, on their ties. It's, yes, it seems like a joke. It seems AI generated.
Starting point is 00:04:40 It seems like someone did, like, as a joke, hey, show me what Donald Trump's Oval Office might look like in 2015. That's what he's actually doing. Remember the picture we did for the Correspondents Center when Obama, made fun of Trump about what the White House would look like if Trump won and it was like
Starting point is 00:04:59 Trump, we went Trump casino and we had like a computer generated image of the whole thing and a hot tub honestly it wasn't far enough we like we missed
Starting point is 00:05:07 we missed the mark we should have done full gold we made that in that was 2011 memories and that was with Jesse who years later
Starting point is 00:05:14 would help here and become the design head here see so there you go here we go things aren't as great now
Starting point is 00:05:20 what do you guys make at the Bolton raid Tommy I mean I think big picture, it felt like just another head on a pike, you know, warning to my enemies. And we know he has an enemy's list, thanks to Cash Patel, putting it
Starting point is 00:05:32 in his book. What was it called? The government gangsters or something like that? Did the children's one? I know. It's funny. That was a real question. I know, I know. I know. Actually, it was a sincere question. I didn't know which book of me. Yeah. I mean, look, again, you know, John Bolton is Ben Rhodes' mentor, but I've never been a fan. I don't like his
Starting point is 00:05:48 foreign policy, his politics, his kind of mustache, his vibe. But it does seem like he's getting punished. And it is really weird. Initially, it did seem like this raid was going to be based on the 2020 prosecution of John Bolton for putting things in his book that the Trump people said he wasn't supposed to. But now they're leaking to the New York Times that Bolton mishandled classified material, which the CIA learned about when it was passed along to the FBI. And again, that's very sensitive stuff. And there is some speculation out there that Bolton did
Starting point is 00:06:15 some work for the government of Qatar. And maybe that is related. But who knows, like Cash Patel and Pan Bondi, by the way, also did work for the Qatar government. Can I just ask you to, I mean, so the CIA angle, the New York Times reported this, I know the CIA collects intelligence overseas on foreign actors, sometimes Americans communication gets swept up in that. The idea that then the CIA director is going to take the communications that they, or information on the Americans that they found through monitoring foreign agents or actors, and then just like hand it over to the FBI. Does that happen a lot? Well, there's a process for that. I mean, what you're kind of referencing is more like the NSA on mass. which is like we intercept a call between an American citizen and some foreign person and like the identity is masked in some products, then you have to unmask it. Right. That was a big controversy in Trump 1.0. If the CIA figures out that John Bolton is a spy for the Russians through counterintelligence operations or whatever, they will pass that along to the FBI for prosecution. But it is incredibly sensitive. I mean, by law, they're not supposed to do the collect on Americans, spy on Americans. Yeah. And the Times article about it, you might.
Starting point is 00:07:23 think that are the article could have been from another era if you didn't know the participants in it because it makes a point of saying only limited intelligence was shared as if this was some serious like that they were taking it quite seriously but then you remember this is john radcliffe who's a hardcore republican former member of congress and cash patel who worked for devon nunis uh uh who's also you know was uh now runs truth social like these are just a couple of sort of trumpy guys and then like you know trump saying oh like i had no idea what this was going to have happen. And then you think, okay, first of all, he's, who knows if that's true. But even if it is, that's why you put Cash Patel at the FBI. That's why you put Radcliffe at CIA or DNI. That's why
Starting point is 00:08:05 you put Pam Bondi as the head of the DOJ. They know what they're supposed to do. Yeah. And I mean, look, who knows? Maybe John Bolton's a spy. Maybe he has committed a crime. We don't know. We'll see what happens here. It's always the people you least expect, someone who is universally beloved. Well, that's what's going to say. It's a problem. It's like, this is a This is why it's so obvious what they're doing, right, is they are purposely targeting unsympathetic characters who do not necessarily have a base of support, right? John Bolton is a perfect example of that. The MAGA establishment, not a fan. He has MS-13 politics, basically.
Starting point is 00:08:40 Liberals, liberals not a fan, right? And so who's going to, you know, who's going to worry about John Bolton? Who's going to stand up for John Bolton? First they came for John Bolton. Right. But, like, well, I know, like, we all have to do the throat clearing when we even talk about it, right? I just did it. Yeah, we all do it, right?
Starting point is 00:08:58 I was kidding about the Ben Rose thing, too. I don't like his policies and this is butt, but, but. It's like, no, no, no, no. There's a guy who was a prominent critic of the administration. They have gone after him before. And now, surprise, surprise, they found something on him again, raided his house, bragged about raiding his house. J.D. Vance was interviewed by Kristen Welker on Meet the Press over the weekend. And he said, we're investigating him.
Starting point is 00:09:20 which you just don't do and even if it is all even if it turns out that there is evidence that he committed some sort of a crime like of course people are going to think that you politically this is why no one can believe anything anymore what the Trump administration is doing is because
Starting point is 00:09:36 it's you have like you said you have cash Patel the head of the FBI who and Pam Bondi who's just you know another advisor to the president no independence there whatsoever so you have that you have Trump talking about it joking about oh he's a bad guy J.D. Van said, we're investigating him. So, like, of course people are going to think this is a fucking political prosecution or investigation. And it also sends a chilling message to anyone else who's criticizing the president. Like, this could be you. Let's say it wasn't. Let's say this was a totally above board operation. You wouldn't live tweet it. You would, you wouldn't go, you wouldn't do an interview saying, we're investigating this person. You would actually go above and beyond because you cared so much about the independence, but they don't care about that. I will say, and look, I agree with all the throat clearing.
Starting point is 00:10:20 And it's important that we do it. But John Bolton made such a point of saying, like, he's not going to support Trump, but he's going to write in Dick Cheney's name because both sides are unacceptable. And I'm just so, as a protest vote, I'm going to write in Dick Cheney. And then makes jokes about the age of Biden at the time. Then Biden drops out. Then Cheney says he's voting for Kamala. And that leads John Bolton to be like, now I don't know if I can even support Cheney.
Starting point is 00:10:46 And it's like, all right, buddy. Like, I, I, I, uh, you know, I give him credit. Look, he's been a critic when everyone else is shut up. So I gave John Bolton credit there. I really did. And I'm more like, forced for the trees on this one. Like, John Bolton, Dick Cheney, I don't care who the fuck it is. They are, they are, you know, they start shooting people in the street and disappearing people who, like, I don't care what their politics are or what they've done.
Starting point is 00:11:07 Like, the government shouldn't do that, right? Yeah, I don't care either. Yeah, I don't care either. Yeah, no, no, yeah, no, no, I don't care either. I just, this is, I do think this is why they, he's picking these people. This is one way we're talking about Chris Christie, too. Like, they're not picking the most popular people. This is why I've always been, and, you know, could eat my words on this,
Starting point is 00:11:22 more skeptical like he's going to go fucking arrest Barack Obama because if you're being strategic about it, arresting Barack Obama or Joe Biden or come like, like that would, you know, that would send people into the streets maybe. But no one's going into the streets for John Bolton or Chris Christie. Yeah, but the top people on the enemies list are, you know, former allies who turned against him. And the people involved in his prosecutions. Yes, in January 6th. Those are the, those are the, and basically he's gone.
Starting point is 00:11:46 after almost all of them now. Yeah. So we haven't talked about Pete Hegseth firing the director of the Defense Intelligence Agency for what seems like releasing a report that contradicts Trump's preferred storyline about the Iran bombings, just like he fired the guy who released a jobs report that contradicts Trump's preferred storyline about the economy. I don't know. What do you guys think of the consequences down the road of the government silencing dissenting voices and information that displeases the president? Yeah, I mean, so the DIA for those. I don't know. It's one of the 18 different components of the intelligence community. And they specifically focus on like military intelligence, military capabilities. And so like you said,
Starting point is 00:12:27 after we bombed Iran, they were kind of first out of the gate with his assessment that said that the bombing only set Iran's program back a few months. That contradict the total obliteration comments that enraged everybody. So I guess the message now is even collecting information that doesn't comport with what Donald Trump has said will get you fired. I mean, I guess we that from the BLS firing a few weeks ago. But like, play that out for a minute. Imagine, imagine Trump is a meeting with Xi Jinping. He decides, you know, they buy a bunch of a Melania coin in advance or something. So he decides over like China is good now. And Trump decides, okay, going forward, we're now allies. Taiwan, we're not going to talk about it. Their military,
Starting point is 00:13:04 the PLA's military, we're not going to talk about it, human rights shut up, IP theft, shut up. Is it an intelligence analyst who like collects information about those things now going to get in trouble if they write them down and put them in a report? Because like, that is, like, that certainly what this seems to say to the uniform military, it's like the military leadership. And also, Hexeth also fired a bunch of other like senior Navy leaders, like the head of special warfare with just sort of no commentary. We know Laura Lumer got the head of the NSA pushed out a few months ago. So yeah, I mean, very weird shit is happening. Yeah, I look at where I think speaking of Dick Cheney and we're old enough to remember that it was the defense intelligence
Starting point is 00:13:43 agency where Cheney and Rumsfeld went rooting around to try to find the right kind of evidence. So they go to the UN and claim that Saddam Hussein had a program of weapons amassed destruction. You know, the intelligence being manipulated to confirm the priors of the people who want to change, say, the Defense Department's name to the Department of War can lead to really bad places. It already has. It can again. And, yeah. Who's going to work in intelligence? Who's going to work in the Defense Department now?
Starting point is 00:14:13 Why would anyone want to do that? Maggot Shuds. Why would, yeah. And like, why would they want to, like you said, it is writing the information down because you could see if they fired whoever they found leaking it, right? Because obviously the report was leaked. But that's not what happened. It's not, this is the leaker.
Starting point is 00:14:29 This is the person who produced the accurate information or the information led the agency that did. Yeah. Well, and for all, and by the way, like, who knows the conversations we're not hearing, right? Maybe it's because refused to produce a different report under pressure, refuse to go along with I'm sure there'll be more reporting on this, but like, we have no idea what's going on. And Pete Hakes says fucking Pentagon, other than leaks about, hey, chaotic and messy it is and how he's getting rid of people that he feels threatened by and how it's overcome by paranoia. All great things at the most powerful military in the history of planet Earth. That's what you want there. That's what you want to top that military. So Trump was clearly watching the Sunday shows more than I can say for myself and responded to an ABC news interview with Chris Christie by, let's see, he made fun of Jonathan Carl's hair. I have not seen lately. Yeah, I don't know what his hair looks like that's different. I think dreads were a mistake. I just, but he went, but, you know, he went on vacation to Jamaica and he did the thing.
Starting point is 00:15:19 He, as one does. He, um, old-fashioned, I guess. He mocked the show for paying him $16 million, uh, just, you know, taking a little victory lap there. And then he, uh, he called Christie sloppy and threatened to reopen the, like, decade-old investigation into the former New Jersey governor's closure of the George Washington Bridge. Uh, he also threatened ABC News and NBC News, saying that they should be paying the government millions in licensing fees or else lose their broadcast licenses for unfair coverage of Republicans. Trump's government is already investigating Senator Adam Schiff, New York Attorney General Tish James,
Starting point is 00:15:53 Fed Governor Lisa Cook, all for alleged mortgage fraud. And the president has, of course, called for the indictment of Barack Obama, Hillary Clinton, John Brennan, James Clapper, and others over a completely made-up allegation about Russian interference. So a lot of Trump's threats turned out to be empty. Sure seems like he's following through on, on, uh, quite a few lately. I know it's unlikely that, you know, this, like I said, any of these individuals is going to get people up in arms. But I don't know. It feels like all this retribution is being met with kind of a collective shrug. Yeah, it's not a great trend line.
Starting point is 00:16:29 What's the statute of limitations on a bridge closer, by the way? It feels like, I was trying to figure out the day. I should have just Googled it. But I was like, what? This was like, it might have been a decade ago. It was a long time ago. Yeah, I mean, the broader point is like 99% of the time I go through life sort of implicitly assuming that we're going to make it as a country. Yeah, yeah, for sure. You know, and then every once in a while I have a conversation with someone as I did this weekend where they're like, oh, I actually have a bunch of money in Bitcoin cold storage that I'm storing in a foreign country. And I think, huh, am I just a, am I a boiled frog too? Tommy, I told you that in confidence.
Starting point is 00:17:04 Yeah. John's using, it's actually Trump coin. It's probably going to go up and value. I'm counting on Intel stock. But yeah, this is, yeah, the enemy's list is, they're picking them off. I feel like this, there is this collective feeling among people who are paying very close attention. Like, it does feel like a shrug. It's like, what is the shrug?
Starting point is 00:17:24 Like, what does it mean to feel like we're not? Why aren't people caring more? And why is something happening? And I do think it's like it's a bit of this is human nature, which is we do this in our own lives. Like problems you can't solve or just problems you don't want to deal with face, admit to the size of. Right? Like, you have to admit you have a problem. that you could like that's that's what happens with people that have addiction
Starting point is 00:17:43 whatever you have to like face the problem and and believe you can fix it and part of it is all the the points of pressure that might cause there to be pain or consequences for what Trump is doing here are not available to us because Congress is controlled by Republicans and they don't give a fuck the DOJ is fully captured so they don't give a fuck journalism just doesn't go as far as it used to because people are in there in feeds and not consuming information there's just a report came out that uh uh americans no longer on average read one book a year that's listen it's unrelated to this but it's not good no it's not good you know who's worried and up in arms all the chat gpts all the
Starting point is 00:18:20 chat bots yeah i chat bots they know what's going on they're the only ones left with information yeah the chat the chat they're they're you know how many they're about to resist poor gpts poor abused gpts but so the things they know but only americans knew they read all the so i just like don't know what we're like yeah like oh you're really upset about this well the people that can fix it, don't give a fuck. And so, like, yes, right now people aren't up in arms in a way that feels like it's commensurate to the scale of the challenge. But that's why we got to, like, do the fucking hard work to get people to come out and we can win a house in Congress. And all of a sudden, we have some power. There's people that'll care. I also think people have a mistaken
Starting point is 00:18:57 impression of how things operate in a regime, a dictatorial regime, which is, they think, oh, if the, you know, if the, if the dictators going after their opponents, you know, it's just agents showing up at their house and taking them away in the middle of the night, and that's that. And even as we were talking about these cases, you're like, oh, I don't know, did anyone, did anyone commit some little mortgage fraud? Do we know the evidence? Right. Do we know if John Bolton is guilty or not? Maybe he is. We, like, this is what they do. They figure out, okay, everyone has probably broken the law somewhere in life. And also, we don't have to tell anyone anything for a while so we can pretend
Starting point is 00:19:33 at least it's on the up and up with a little wink and a nod as they've been doing. And, you know, then people will wonder what's going on and they'll think maybe it's shady and also Trump threatens a million people all the time anyway and has for a decade. I mean, we were talking about this in the meeting this morning and I mentioned ABC News and NBC and you were like, didn't he
Starting point is 00:19:49 already threaten them a couple times? Is that new? And I'm like, yeah, maybe, but you know, I'm going to take your licenses unless you pay me millions. Like maybe it's a tweet now. Pretty soon it's going to be like, you know, Brendan Carr actually doing it. He's also, I got to say, maybe he switched to a stronger Adderall. He's doing more following up.
Starting point is 00:20:06 Like, he's following up on stuff more. Like, it used to be. He's got the people to follow. He's got the people to follow up. But he's got the people to follow up. Because it used to be, he throws out a tweet or post about how we've got a free Tina Williams or Peters, whatever her name is, that woman in Colorado. And it's just a fit of peak.
Starting point is 00:20:21 I forgot about that. And Jared Polis says, here you go. But Jared Polis doesn't need to worry about it that because it's never going to be harsh measures. But there's somebody keeping track. And they do follow up. They do come back at you. uh yeah he uh and then the the last person we should talk about is uh he went after west more the governor of maryland they've been at a back and forth over uh sending the national guard to
Starting point is 00:20:42 baltimore uh the murder rate in baltimore is at a 50 year low you know still crime in baltimore still the you know trump says it's the the fourth uh most violent city or crime written city whatever so more invited trump to come walk the streets with him and uh trump responded by calling more nasty and provocative. He used a tone, used a tone that was nasty and provocative by inviting. Let's go take a walk. That's how every tech CEO has meetings these days.
Starting point is 00:21:10 It's just, you know, it's very passive aggressive. And Trump said he may cancel the funding that Congress appropriated to rebuild the city's Francis Scott Key Bridge. Although Trump described it is, I gave him the money and I might take it back, which I don't even think that was, I think it was appropriate in 2020, 2020, 24. It wasn't Venmo.
Starting point is 00:21:28 It's not his money It's also, yeah It's like it's similar to the Bolton thing Like if it even comes out to like Part of it is like the process is the threat right Because like Trump is so openly and brazenly saying like You won't get the money because I don't like you Like that would not hold up
Starting point is 00:21:42 But then the process of holding it up Would be the problem saying for Bolton Maybe no crime will be there But he has to get lawyers He has to like uproot his life To fight it Yeah and now I mean Just imagine like a state losing funding you get from the federal government
Starting point is 00:21:56 To rebuild a fucking bridge that collapsed through, you know, an accident. Yeah, a very important bridge, too. And I guess, you know, he just, all of these threats are designed to send a message to every other elected official out there. Because like Gavin Newsom has decided to burn the boats and tweet funny memes all day long, but other states are going to worry about getting federal funding in the wake of a disaster or, you know, what other executive branch help they might need.
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Starting point is 00:24:28 So an expected move, but, you know, it's here. And White House videographers are also accompanying federal agents during raids and arrests so they can fill our social media feeds with content that owns the libs and, you know, stuff that the MAGA base can get off to. That's what they like. Guys, we own ourselves, us libs, okay? We take plenty of videos of ourselves. Yeah, that's right. It's our liberal tiers that help, you know.
Starting point is 00:24:52 We're watching the, was the choir outside of the Abrago Garcia here today? Oh, my gosh. Anyway. Anyway, we watch too much Foxx. in our office. Trump is clearly enjoying himself as well. Here he is on Monday after signing executive orders aimed at ending cashless bail, prosecuting flag burners, and ordering, quote, further actions to stop the crime emergency in D.C. So it used to be called the Department of War, and it had a stronger sound. Now we have a Department of Defense with defenders. It just sounded bad. He said, sir, in behalf of the Department of Defense, defense, I don't want to be defense.
Starting point is 00:25:28 We want defense, but we want offense too, if that's okay. So you'll make a decision. But you know, as Department of War, we won everything. To think of it, there's your trophy for the World Cup. I think what I'm going to do is place it right above the angel, right over there. That's solid gold, too. We're going to put it right up there. Look at it.
Starting point is 00:25:47 There's a solid gold trophy. They know how to get to me, you know. As you all know, Chicago's a killing field right now. And they don't acknowledge it. acknowledge it. And they say, we don't need them. Freedom, freedom. He's a dictator. He's a dictator. A lot of people are saying maybe we like a dictator. I don't like a dictator. I'm not a dictator. I'm a man with great common sense and a smart person. Yeah, not a dictator, even though you wouldn't believe how many people are coming up to me. Mr. Trump, Mr. Trump, we want a dictator.
Starting point is 00:26:18 No, no, no, not me. That's not me. I'm just common sense. I just see someone on Twitter called the office decor Saddam Corps Yeah, big time I think that's good Yeah It is very Saddam core I think the new Department of War logo
Starting point is 00:26:34 Being kind of a southern Old guy It's the Cracker Barrow guy It's a arm over a barrel And it's Department of War I think it's Gilden the Lily I think it's Guildin the Lily It's this is like cartoonishly fascist
Starting point is 00:26:46 It is In a way that if If you If you told someone about it That it was happening Who had been asleep for 10 years years they'd be like, come on, that's too. Of course everyone got that it was fascist, right? Like, how did people not know this? It's also like, man, you know, you guys are sending out your social
Starting point is 00:27:03 media people to film these arrests. Like, Lenny Riefenstall, like, knew how to compose a fucking shot. Oh my God. You know what I mean? It's just like, there's no pride in the product. Like, you're going to be fascist. Uh, learn the rule of thirds. Yeah. Want to score something. Also, historically speaking, um, remember the Republicans who liked limited government and like personal freedom and talked about that stuff all the time like not like the crazy libertarians like the dude in new hampshire who tweets insane stuff like the libertarian wing of the republican party yeah where are those people they're just hanging at those they're just gone it's just a small but mighty crew at the american enterprise institute now and cato don't forget
Starting point is 00:27:41 who are like every time i see a tweet from someone there i'm just like yeah you got it i know me too they're pro immigration i'm retweeted the cato guys all the time too they're like there's a big There's a comedian named Tim Dillon, who we've talked about, I think, maybe on rapid response off on YouTube. But I don't think he explicitly endorsed Trump in 2024, but he, like, was very critical of Democrats, had J.D. Vance on his show right before the election for this long interview. But Tim Dillon did this riff the other day on his show where he was saying how all of the things that Alex Jones has been warning about for years are coming to fruition. The U.S. military in the streets, FEMA camps, evil companies like Palantir, collecting off our data and monitoring us. where are the people who are worried about this? Like, again, I know Alex Jones is a performance artist
Starting point is 00:28:24 and as he said about himself in court, but like there's a lot of people who sincerely care about these issues and where are that? Well, I think maybe they didn't. I know, I do think people like limited government, like New Hampshire is an entire state built on loving limited government. Where are those?
Starting point is 00:28:37 They're choosing die right now. Yes. Well, I talk about this just, there they are. They are. But like, so I talked to this to Ricky later. You'll hear it. But like, okay, right, fine. They're libertarians. But they like order.
Starting point is 00:28:50 They like law. The president is seizing the means of production. You know, he's, he's taking over, he's demanding shares in publicly traded American corporations, private companies. Right. And they're nowhere. It's communism. And might take more. I mean, I'm sure you talked about this with Sir Ricky.
Starting point is 00:29:06 I don't know if you talked about the win story, too. This was unfucking believable to me because, again, it was a headline. I'm like, oh, Donald Trump shutting down wind projects. Like, oh, yeah, he doesn't like win. So maybe he's like cutting funding from the government. No, no, no. there's there was like a a wind farm that's 70% built already set to generate like enough electricity for like just hundreds of thousands of people in Rhode Island it's almost
Starting point is 00:29:29 going to be done and just pull in the permits now just the federal government saying we don't want wind projects and wind projects that are actually in the process of being constructed with private money we're going to shut them down to your point earlier about like existential problems that are sort of hard to look in the face because they're so dire and nothing's happening to solve them like climate change is still the thing, as we all recall. There was this group that looks at sort of the intersection of climate and business. They found that $22 billion worth of clean energy projects have been canceled in the first half of 2025. A lot of that is like car manufacturers scaling back
Starting point is 00:30:00 EV production because we got rid of all the tax credits that incentivized the purchase of EVs. But like big picture, electricity is just going to get more expensive. And wind generates, I think, about 10% of our electricity last year. Wind and solar, you get to about like 20% of electricity generation in the United States. And he's just killing off those industries at a time when we're also building these giant AI data centers that take like a city's worth of energy so that, you know, we can get a couple more boobs on those, those ladies. I made that same joke with Sir Wickey later, fuck.
Starting point is 00:30:34 So they stay tuned. So the Grock can turn into Mecca Hitler, you know, in real time. Someone said this, like, our country is now building data centers and detention centers and camps. That's it. That's what the United States has come to now. There are coal power plants that are set to retire, and the people running the coal power plants have not asked for an extension. They were, like, ready to shut them down.
Starting point is 00:30:58 And the Trump administration is forcing them to stay open. Because they're not profitable in many cases. Well, it's the equivalent of like rolling coal, right? Like, it's not good for anybody. It doesn't do anything. It just makes the air worse to own the people driving behind you, the libs and the Priuses and the Tesla, well, used to be Tesla's behind you. And it's more expensive now.
Starting point is 00:31:14 This is like, say you didn't give a shit about coal. climate change. We're now, there's cheaper energy that we're now trying to get rid of for more expensive energy because Donald Trump doesn't like what windmills look like and things that our coal passed is something that we need to return to. It's like the difference between what they claimed, what Republicans said forever and what Trump actually is, right? Like, oh, they don't want to choose winners and losers, right? And the tax credits and all these things choose winners and losers. But Trump, I mean, like, again, to your point about it, everything Alex Jones predicting coming true, he goes, he meets with the oil executives, he demands a billion dollars. And then he's like,
Starting point is 00:31:43 Not only do they try to subsidize fossil fuels more in their big, beautiful bills, some of which came out, but not all of it. They're not going to kill projects that are basically done. That does for no, there's no justification for none other than to make energy more expensive and to push people towards dirtier forms of fuel. To drive up the profits of a dozen or two dozen companies. Just wait till the federal government shows up at gas stations and just starts covering the prices of gas so that no one knows. They just, they'll charge your card, but yeah, they're not going to, they're not going to release the information. Spray painted. Because gas is going to be cheap, as cheap as it can be forever.
Starting point is 00:32:18 Well, just you're competing with all these immigrants for this gas, and they're using up the gas. So on the, back to the occupation, that's happening too. Oh, one more thing on the Department of War, though. Because I just want to, like, the President of Peace, Nobel Peace Prize guy, going to end forever wars, going to end all the wars. Already ended a dozen wars. I'm a president of peace. And like, now we're doing a war department. Yeah, I don't know. It's a throwback. You know, throwback jerseys are pretty hot right now in a lot of sports, the NFLs. I own a couple throwback jerseys. Maybe we're just throwing it back.
Starting point is 00:32:51 Does he think that we got mired in Vietnam because of a brand issue? Does he think it was because our logo and slogan didn't capture the vibe? Is that the problem? We didn't win World War II because we had a Department of War and then we changed it and we lost our mojo. I don't think that that's what happened. I don't think that that's what happened. We did that Joe Rogan of the Domino Theory. That's right. That's right. I am. Democrats would have. So Republicans are already lining up in Congress to introduce legislation to extend Trump's takeover of the D.C. police from 30 days to six months. That can't really happen without 60 votes in the Senate, right, which they don't have. You do sort of wonder if they're going to try to somehow stuff that in a government funding bill and then dare the Democrats to, you know, shut down the government over it. Wonderful. And I don't know if I've made up my mind on how I think that's going to go yet, but what do you guys think? Is that a good thing to shut down the government for? Like, I'm sort of more and more in the Chris Murphy camp of you cannot, you cannot concede to the normal parts of governing because they'll, they benefit from the normal parts and then they benefit for the abnormal parts.
Starting point is 00:33:57 Like, oh, they want this so that it looks legal. Meanwhile, TikTok is still operating illegally. He's taken intel without any kind of congressional authorization. He's doing all kinds of things with illegally as well. So why are you going to give him the patina? of a legal imprimatur when he has, like, had shown no indication that he won't do it either way. Yeah. Like, why are you to help him?
Starting point is 00:34:18 It's tough because that is, that's almost like the argument. I know, I know, I know. Because it's like, well, we can all vote and shut the government down over this. And then Trump can say, well, I don't give a fuck about Congress. I'm just going to, maybe even if he couldn't take over the police anymore. He's like, well, I still got the guard. The guard can go anywhere. But, you know, that's my prerogative.
Starting point is 00:34:34 But like, we did this the last time. I know. And the answer is, if you can see that his abuse of power, makes him more powerful in Congress, he's already won. And so you just can't do that. You just can't do that. I hear that, but I'm saying it's the other side of the argument. He's just going to park like an F-22 in Millennium Park to protect the bean
Starting point is 00:34:51 and be like, I cut the murder rate in Chicago. And everyone's like, thank you, sir. First bean, he's gone near in years. You know what I mean? Oh, my gosh. He's never shown much care for the bean in the past. I shouldn't have played that AI country song for you this morning. That's what got the year.
Starting point is 00:35:07 Can I talk about something serious, which is the, All of a sudden, the National Guard is going to be armed. And there's not even an explanation for why this is suddenly different. Right? Because they're going on, they're saying that their mission has been a great success, that there's been no murders in D.C. And so if the Guard can have guns, why didn't they have them at the beginning? You waited.
Starting point is 00:35:29 Why? To get us a little bit more comfortable. It admits to the reason they're doing it because they knew it would look worse to start out with guns. They're not some justification. It's not like the National Guard have felt unsafe and have been hounded. They're just looking at their phones outside the Washington Monument. Right.
Starting point is 00:35:44 Well, and they're also hoping that everyone's like, you know, all the Libs made a big fuss about the guard. They're just taking pictures with people. They're just standing around Guard and the Monuments. Who cares? Meanwhile, you know, he signed another executive order today that was like every state must get some of its guard ready to mobilize for President Trump in case he needs to put down civil disturbances, which is the real, you know, the goal here, and fight crime, whatever else. So now, yeah, now they're going to have armed guards. armed National Guard troops in the streets of major American cities
Starting point is 00:36:13 and maybe it's fine for now, but also maybe everyone's going to, you know, shut the fuck up and stay home and not criticize Donald Trump anymore. Yeah, it's scary. It's really scary. Because we can do this the easy way or the hard way. If everyone just lets the guard there with their,
Starting point is 00:36:25 and just patrolling the streets with their guns, then you're all okay. And right, and you can see the guard getting deployed with their guns to liberal areas right before an election. Of course. Yeah, that's the next thing to worry about. And then, and really, it's just a cover, right?
Starting point is 00:36:39 is the guard is the guard they have they're in camo they it looks wrong it is wrong but it's the ice agents that are going around doing more of the arrests and it's the ice agents that are the ones that are going to be standing outside of polling places it's the ice agents that are increasingly recruited from sort of the the maga fanboy base with these enticements to get in to join so like that to me is what's going to ultimately happen you got the guard there you have that you have ice there and all of a sudden they're trying to pull precinct votes down by 10 or 12 in some liberal areas and enough to swing some close races. Yeah, you know what?
Starting point is 00:37:12 I'm with Murphy. I just think you, like, and I know, you know, we're going to probably have a couple conversations about this as we get close to the government funding deadline, but it's like, so, you know, Democrats don't have a plan to reopen the government once they shut it down and what if Trump just says that's fine and I'm going to do whatever,
Starting point is 00:37:29 then people should know that the President of the United States has decided to operate without Congress and without the government funded and is just going to be a full, you know, it's probably more important for Democrats to tell people we have no part of this and we're fighting for it and we're fighting against it and that's it I don't know yeah we're in extraordinary times now we are only what seven months in yeah we're seven months in look at where we are every CEO is marching into the Oval to pay fealty there are troops on on our streets he's threatening to do more
Starting point is 00:37:58 like this is happening very it's happening fast it's happening right in front of our eyes do you think do you think six months from now that vote's going to get easier everyone's just lining up to give them gold golds gold trophies gold shit from Tim Cook there's gold everywhere which everyone should watch the South Park episode to see what in their view happens with those various bobbles that get presented to the President United States yeah yeah not the bean not the bean not the bean not the bean is brought to you by Quince. While I drop a fortune on basics when you don't have to, Quince has the good stuff. High quality fabrics, classic fits, and lightweight layers for warm weather,
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Starting point is 00:40:06 CNN reported over the weekend that unsurprisingly, most of the arrests in D.C. have been focused on immigrants. And as the Times reported last week, the summer surge in immigration arrests has been a direct result of federal agents going after people with no prior criminal records or convictions. That was certainly the case with Trump's most notorious wrongful deportation, that of Kilmar-Obrego-Garcia. And there have been some big developments in that case since we last spoke about it. If you remember, Abrago-Garcia was brought back from Seacot, arrested by the feds, on dubious human smuggling charges in Tennessee, then released by a very skeptical judge so he could go home to Maryland
Starting point is 00:40:43 while awaiting his trial. Apparently, the government then offered to deport him to Costa Rica if he pled guilty to their charges. When he refused, they told him they planned to deport him to Uganda instead. Then he showed up for a check-in on Monday morning and was immediately detained by ICE,
Starting point is 00:40:59 which was expected. Luckily, Judge Palazinis ruled that he can't be sent to Uganda for now. Here's what Abrago Garcia had to say. on Monday at the massive protest on his behalf before being detained by ICE. Promise me that you will continue to pray, continue to fight, resist, and love. Not just for me, but for everybody,
Starting point is 00:41:53 continue to demand freedom. Thank you so much. I know Tim talked about this, Miller, when he interviewed Andri, but it's Hernandez-Ramaro another another Ticoke prisoner it is just
Starting point is 00:42:11 it's unbelievable that the people who have been wrongfully deported ripped away from their families tortured beaten like have this kind of grace
Starting point is 00:42:21 and are saying like keep fighting for justice and all that I mean it's just it's wild to me yeah I also like sort of I was thinking the same thing and just that it
Starting point is 00:42:30 it also speaks to like what do we have on our sign which is yeah people don't care about enough right now it just feels that way we can't people just aren't waking up to it enough right there just isn't enough political pressure it just all feels too close but at the same time like the information is out there right like the story is still we can still tell the story like he doesn't he hasn't has thumb on the media there's enough media right like it is not because it is not for
Starting point is 00:42:52 it won't be because of censorship nope that we don't stop this it might be because of noise and nonsense and misinformation but it won't be because the story couldn't be told and i do think that like as hard as that is it does point to point away here which is like our job collectively is to figure out how to tell that story because there are moments like this where someone's talking about this openly and honestly and they're not afraid to do that and I do think that that is hopeful yeah and I'll just be honest he doesn't have the option to say we really think probably you know he's this guy's like dealing with the capricious justice system that that they're what the United States is saying to this man is take a plea deal admit guilt for crimes you don't believe you committed or will send you to
Starting point is 00:43:28 Uganda that's not a justice system like it also it also shows the white house is where they're picking deportation locations as a way of further punishing these people, right? They're like, oh, you don't want to go to Costa Rica? Okay, how about Uganda? You don't like dictator or something? Moussevani. We'll get to know him real quick. You know, the other thing we should be thankful for, at least for now, is Judge Zinnis, when she heard this, is like, this is why you cannot deport him to Uganda until at least we get through this trial. And I say, because the fact that you offered him Costa Rica and then decided to say, no, Uganda, like shows that you're just doing. You're just doing this in a capricious and punitive way.
Starting point is 00:44:07 Well, and it, and it shows, right, like with they, they have been threatening to send people to all kinds of, they have sent people to South Sudan who are now, I think, I'm, to the point of not being able to keep up with what the fuck they're going on. I think they're still in a holding facility in South Sudan. In this case, it's not just to send a message to other people about immigration. It is specifically to get out of their embarrassment of having drummed up these charges that can't be supported in a trial. They're afraid of a trial.
Starting point is 00:44:32 They take Costa Rica is pretty nice. Please, please, if you're such, he's so terrible, don't you want him to pay for his crimes? No. They know a trial would expose how fucking ridiculous they're charged. And wrongly rendered him to El Salvador in the first place, literally the only country on earth where they could not have deported him by law. Yes. The second part of it is if you, Zinnis not only said, you can't remove this guy anywhere. He has to stay in the place he's in right now.
Starting point is 00:44:57 It was, she said, and this order counts, right? Because I know I'm just saying it out loud. but you, member of the bar, as a lawyer, who presumably wants to continue to be a lawyer, this order. Who's been at the center of this? You are not pretending this order doesn't count because it's not written down
Starting point is 00:45:15 because that's what you guys tried to pull the last time when you claim that an oral order from, what's his name, Blosberg, whatever. Bozberg. You claim that didn't count, so those guys got sent to Seekot because it wasn't written down. So this counts, and he's like, yes.
Starting point is 00:45:29 Just speaks to like, he gives a talk to these people like sort of children like Aaron Children. Well, meanwhile, as this is happening, DHS tweets, we're thrilled that he's going to Uganda. Well, and they did it as a quote tweet of Congresswoman Pramila Jayapal as just like another troll. Like, this man's life is just in furtherance of their trolling.
Starting point is 00:45:49 Yeah, of lips. Just all for the content. One federal detainee who's being treated quite well by the Trump administration despite actually being convicted for child trafficking. Galane Maxwell. On Friday, the Justice Department released the transcript of her recent interview with Todd Blanche, Trump's personal attorney turned deputy attorney general and you guys will be shocked to learn
Starting point is 00:46:07 that a convicted criminal who's made clear she's looking for a pardon said that she's always known the one person who could grant that wish was a perfect gentleman who's never acted inappropriately around her. Full exoneration of Mr. Trump. You'll be even more shocked to learn
Starting point is 00:46:24 that the perfect gentleman's personal lawyer did not follow up with any tough questions for the person his own prosecutors have said is a serial liar. I don't know if you guys went through the transcript. You guys have any big takeaways from the Maxwell Blanche interview? I mean, the big takeaway is that it was just an absolute farce. I read Donald Trump's personal lawyer sets up an interview with a woman convicted of sex trafficking children with the sole goal of absolving Donald Trump and his associates of any wrongdoing. And he asked, I think someone counted. He asked many more questions about Bill Clinton
Starting point is 00:46:56 than Donald Trump, even though this whole controversy. The reason we're talking about this is because Donald Trump refuses to release the Epstein files and everyone's wondering why. And also, like, Blanche with drop lines of inquiry when it got close to Trump or when she mentioned, like, associates of Epstein being in the cabinet. And in the process, though, Blanche gave Galane Maxwell this opportunity to lie and rewrite history for herself. And she's a liar. She's an obvious motivation to lie. She got better treatment after agreeing to have this conversation.
Starting point is 00:47:25 But in the process, you've got these upscene victims and their families just getting going through. this traumatic nightmare all over again. And for example, the family of Virginia Jew Frey, who is one of Epstein's victims, who died by suicide earlier this year, released a statement saying we're outraged. The contents of these transcript is in direct contradiction with felon Colleen Maxwell's conviction for child sex trafficking. During DAG Todd Blanche's bizarre interview, she is never challenged about her court-proven lies, providing her a platform to rewrite history. I mean, it's like truly a really disgusting, disgusting farce. Yeah. It reads more like a deposition in a civil case where Trump's lawyer is trying to gather the information that he needs in this civil case to help his client get out of paying any kind of restitution. It doesn't read like an investigation. It doesn't read like a criminal investigation. It also is clear like Blanche is not that prepared, right? Doesn't clearly know the fact. He's not there because he's not there to create a body of evidence. He's there to exculpate Donald Trump. He didn't bring any of the lawyers in the Justice Department who are still working there who worked on this case.
Starting point is 00:48:28 case. The lawyers who said that Galane Maxwell couldn't be trusted, didn't tell the truth, never, uh, uh, admitted her, uh, complicity in this, showed no kind of remorse for what, what she participated in. But I do think for me that the second big takeaway is, um, the other, like it's sort of the other side of that coin, which is because Blanche was Trump's personal attorney and basically is still acting as that and because DOJ is not independent and because nobody takes Galane Maxwell seriously and understands her motives. The fact that Trump is so corrupted and polluted this process with his own personal politics, it doesn't work. This doesn't end it. It doesn't do anything. It actually kind of, it didn't help in one way or the other. It didn't make a big splash that brought more attention
Starting point is 00:49:08 to the story. It kind of came and went a little bit. But at the same time, the fact that she's saying all these things that seem to be positive about Trump doesn't matter. Like the story goes on. The need for deposition goes on. The demands for release go on. Well, they also, uh, the several judges now have said that the Trump administration's request to release the grand jury transcripts. an obvious distraction because they should know that there's nothing in the grand jury transcripts that would illuminate any new information about the case. And also I think that the DOJ gave the first tranche of Epstein documents to Congress. And, you know, Robert Garcia, the top Democrat on the Oversight Committee, he was like, I don't know, like 90% of these pages have been public
Starting point is 00:49:52 already. They gave us mostly public information. Yeah. And I think what basically they've released like 1% or 3% of what is believed to be in the totality of these files. I'm obviously, you're not going to release, like, graphic images of underage people or anything like that. But there's a lot of documentation that is still out there that's not been released, that they're clearly just trying not to release. And that is the part of that this is just a complete and total farce. I will say the one sliver of good news here.
Starting point is 00:50:17 Did you guys see that James Comer, the top Republican on the Oversight Committee, has finally decided, okay, maybe we need to hear from Alex Acosta. I saw that. And I'll tell you, like, we're all conspiracy theorists now. So they said they're going to, it's for a transcribed meeting. That's what it said. That there's not going to be a recording of it, I guess. Maybe that's part of the agreement.
Starting point is 00:50:34 I'm not sure. But my, at this point, how on earth can we trust James Comer and Alex Acosta? You don't think they'll button this up? Well, I think they will button it up is the problem, is the problem. Well, and the thing that's just worth noting politically about the release of this Maxwell transcript is basically every moron who went to the White House and held up an Epstein files part one binder when Pam Bondi first snowed them all into, you know, cheerleading whatever bullshit PR thing she did, has basically declared that the Maxwell testimony is all they need to hear, right? So there's a, there's a subset of MAGA influencers who built their audiences on the back of pushing Epstein related stuff, usually about Bill Clinton or Democrats, is now saying they're satisfied by hearing this disgusting. woman who is serving a 20-year sentence, who herself abused underage girls, they think that what she says is gospel.
Starting point is 00:51:33 That's fucking gross. Obviously, there's a ton of other shit going on as well. Trump got asked on Monday about why he's gone silent on Gaza, which the Israeli government continues to bomb and starve. He was asked about the Putin Zelensky meeting. He said he was setting up, which the Russian foreign minister has basically said isn't happening. There continue to be horrific stories every day about more wrongful.
Starting point is 00:51:55 tensions, stories about more layoffs because of the tariffs, stories about an insane level of corruption in the White House, on and on and on. We wanted to bring up these stories in part because they were each at one point at the center of the political debate dominating the news cycle and then just as quickly moved on to the periphery of what the White House in D.C. and a lot of political press is talking about, which seems like a problem. But first, anything you guys want to say about where we are with these stories or any others I didn't mention? Tommy, you want to talk about Gaza and also the Russia? Yeah, I mean, like, it's just, it's so frustrating because he just chums the water every day with some new outrage. And then he just is never held accountable for anything. There's no follow-up on anything. And I just do think it's worth noting that, again, during the campaign, Trump said he was going to end the war in Ukraine in 24 hours. It's August 25th. So we've missed that deadline by a bit. But even, you know, after the Alaska meeting with Putin, Trump said, okay, there's going to be a bilateral meeting between Putin and Zelensky. That hasn't happened yet. He said, we're going to figure out with the Europeans, what a security guarantee for Ukraine looks like. That hasn't happened yet. He said there'd be a trilateral leading.
Starting point is 00:52:54 with Trump, Zelensky, and then Putin, nothing about that. And even today, I don't know if you guys notice, he was talking about Putin going to Alaska and taking that meeting as if it was some sacrifice for Putin. Yeah. He's literally the opposite. Like, oh, it's such a coup that we got the meeting. Yeah. And like, it just, it couldn't have been a bigger gift to Putin to be welcome back to the United States into the international fold after invading Ukraine in 2022, the full scale evasion. And then a similarly on Gaza, like, there was this global outcry about the starvation in Gaza a few weeks ago. It seemed in that moment, like Trump might pressure Netanyahu. But the opposite has happened. Again,
Starting point is 00:53:28 like Hamas just agreed to a temporary ceasefire deal. It was very similar to one that the Israelis had agreed to, like I think in July. But rather than accept it and rather than get out more hostages, Netanyahu's completely changed his negotiating posture and saying he needs a permanent agreement that gets out all the hostages and ends the war. And again, like those details set them aside for a second. The key point is Trump, he's like bragging every day about how he's ending wars, but he's not doing anything to pressure Netanyahu to end this one. And the Israeli government is drastically ramping up settlement construction in a way that's going to just kill off any hope of a Palestinian state. Like talk of a two-state solution right now is incredibly
Starting point is 00:54:08 naive and it will soon be, there just will be literally no hope of a contiguous Palestinian state given the settlement construction. And the Trump administration supports it. Full on supports it. So it's just, you know, it's killed a bunch of journalists today. Yep. The Israeli the government and they were they sort of bombed a hospital and and then also as people were are trying to rescue people then they bombed it again right on right as the world was watching double tap and he had to and then yahoo had to misshap yeah called it a mishap a tragic mishap which he had to do because it was so thoroughly captured on camera and so obvious and wrong and they had to claim it was a ha mishap and you see trump was asked about it and he's like oh I haven't seen that
Starting point is 00:54:52 yeah it was like 11 o'clock Which is like, who knows? Maybe. Maybe that's true. Maybe it's not. The guy doesn't pay much attention. He's just, he's just living in the present like all of us forever. Well, yeah, like, you know, he, he finds the Epstein story distasteful. So he says, cover something else. And then Fox News dutifully starts covering crime more. Trump sees that. He says, there's a lot of crime in D.C. I better do something about it. Kind of falling for his own, falling into his own, like, bear trap. And this is not what's on Fox News. It's not on what he is seeing. so it doesn't feel as important to him and so he moves on to the next thing. Yeah, and it's one of the reasons I think he holds so many press avails every day because he knows that if he's in trouble
Starting point is 00:55:34 from whatever happened the day before or people are going to ask him questions, he's always got something new to announce, you know, and then people can talk about that. And, you know, I know we had the whole distraction conversation, but it doesn't have to be a distraction from everything, but it is a like, we're moving on and I'm going to do something else now.
Starting point is 00:55:50 Yeah, like, it's funny because it does feel like, oh, so are you guys saying that this is, a distraction from Medicaid cuts. And I think it's just like, it is not, but I think it's okay to acknowledge, like, he is moving very quickly and he is doing a lot on multiple fronts because he knows that is destabilizing to the people that are trying to fight him. And because he doesn't care about results, he doesn't care about outcomes. He cares about the immediate press hit and the headline.
Starting point is 00:56:14 He doesn't care about the consequences of launching so many initiatives, signing so many orders, claiming so many peace plans and processes all at once. he just has to get to the next day. Yeah. And meanwhile, it's like you do start getting numb to the stories, right? There was an outcry over Abrago Garcia over Andrei Romero Hernandez and Seacott in general. And now, you know, they're out of Seacot and back in Venezuela and the deportations continue. And people, like, legal residents keep getting swept up, you know, torn away from their families, U.S. citizens.
Starting point is 00:56:51 ISIS continuing to like tase and beat people who have not done anything wrong who are here legally and it's just like there's so many of the stories you're just like okay and I do think like
Starting point is 00:57:02 maybe you know I think sometimes like we try to figure out like okay what is the conversation where there's some like not to find hope in every terrible fucking story but more like what's productive
Starting point is 00:57:14 right like how do we be productive how do we fight this? How do we fight this? And I think and like but I do think it's worth acknowledging that part of the challenge is going to be that over time, you know, the reason we're talking about Kilmar-Brigo Garcia today is because
Starting point is 00:57:27 of a victory, right? Because he was brought back and the Trump administration is being fought on that and the line is holding on that case. Okay. But in the months since, he's also unleashed ice across the country. Like, we can lose over time even while racking up these small victories because this, and this was, we talked about this from the very beginning, which is slowly but surely, wins and losses, your baseline moves and the country changes. And I think it's just okay to be honest about the fact that that is a very real threat. And more than a threat, it's something we're watching happen, which makes fighting him harder, but is just the reality of it. It's just figuring out what accountability looks like with this guy is so hard because, yeah, he takes a dozen million
Starting point is 00:58:09 press avails in the Oval Office. And he, like, he took questions three times today, three separate times today, which is just unheard of for any White House. But the White House is full of like a couple real reporters and then like the dumbest people on the planet like Marjorie Taylor Green's boyfriend. And so Trump gets away with just asserting things over and over again that he's like cutting all these peace deals. And then meanwhile, he has real leverage to force the Israelis to accept a ceasefire proposal from Hamas and he's not taking it. And he continues to brag about ending a war between in the Congo, between them and Rwandan back rebels. Yet there was a human rights watch report a couple days ago about how the M23 rebels were like the primary group killing people in the region
Starting point is 00:58:51 for lack of the debris version of this. They killed 140 people last month despite this like peace deal Trump brokered. And no one just asked him that question. Hey, sir, I know you just said you just went on for 10 minutes about how, hey, some people think you're racist, but you did this peace deal with the Rwanda in Congo, but actually there was a massacre last month. Are you aware of that even? You know, there's just like no journalism. There's no follow up. There's no accountability in any way. And It's just, I don't know, it's infuriating. Yeah, when at least half the questions to him are answered by him starting with, oh, I love that question. Thank you so much.
Starting point is 00:59:24 What a great question. It's funny, though, right? Like, it's this, this is like, yes, he gets ridiculous questions. But he's also taking more questions than any president, like, certainly in our lifetimes, right? Like, day to day, he takes a ton of questions. Yeah. So it isn't, like, he is getting hard questions. mixed in with these ridiculous ones as well, but they can't cover everything because, A, some of them
Starting point is 00:59:49 are taken up by these other people, and B, there's just too many fucking threads to follow on any given day. Yeah, and they punish the reporters who really go after him. And if you piss him off, he yells at you. Like, remember when he screamed at, like, Peter Alexander and told him how bad he was, then he moves on to, again, like, Marjorie Taylor Green's boyfriend. Yeah, I was going to say, he's taken a lot of questions, but imagine him doing the same thing if the people shouting questions at him were Peter Alexander, Caitlin Collins. Tapper, you know, Christian Welker, right?
Starting point is 01:00:18 And they could follow up. And they could follow up. Jonathan Swan. Those people are mixed in, but they're not coordinated because there's, because someone's always ready to come in with like a haymaker of like, Mr. President, your skin's never been better.
Starting point is 01:00:29 But by the way, though, like, Vance is doing the Sunday shows, right? Like there are opportunities to question them. They really are. Yeah. Right? Like they are able to, they are able to do this despite the fact
Starting point is 01:00:38 that they do do those interviews and see value in it. Yeah. Yeah. We haven't even talked about Vance's Welker interview of the full thing, but it is a good example of, like, he lies so effortlessly, but it's also so obvious and such bullshit. But when you feel like you need to cover all the news with him and you only have 20 minutes, 30 minutes, then you just have to move on. And I do miss the, some people did this with Trump once in a while. They're like, all right, we're going to stay on one topic,
Starting point is 01:01:05 and we're going to get into all your bullshit. And you're not getting up until we get the right answers. You know, like, I do think that's a, if I had Vance for a sit down, like, that's the strategy. I just, I would really want to focus on how he thinks World War II ended. I know. It's fucking nuts. You're a smart guy. What are you talking about? Well, he knows. He's just lying. All right. One last thing that's hopefully a little lighter before we get to the interview. For those of you worried that ICE's big recruitment push means that the, um, the masked agents roving your streets might actually be a beta lib cucks. Trump announced in the Oval office today that he's 100% on the case. Now they have to pass a toughness test. If they're not
Starting point is 01:01:40 tough, we don't want them for this job. They might be great for other jobs. But not for this yet. One paragon of American toughness is already submitting himself to the rigors of ice. Noted Superman portrayer Dean Cain, if you haven't seen the footage of him doing the obstacle course, please enjoy. This time, Dean Cain isn't flying there. He's going through that obstacle course and training to be an honorary ice agent. He was working hard out there. And this is exactly what those recruits will do as they're picked one by one.
Starting point is 01:02:08 And they're at the federal law enforcement training center in Brunswick, Georgia. I love this. I love it. I just love that ice training. is like, okay, grab this sex doll and drag it a few feet. Okay, now slowly climb through about four feet of pipe
Starting point is 01:02:22 and then when you get to this obstacle that you're clearly supposed to climb over, just go through it. Now, here's a slow motion? Here's a crying woman. Yell at her. Tell her as her fault. Taze her. Working hard or hardly working,
Starting point is 01:02:38 Dean Cain. That was brutal. He's running at like 4.9 on a treadmill there. not moving too fast. It's been a long time since Lois and Clark. Yeah. Well, that shows from the 90s. He is not fitting in that uniform. No, he's not fitting in the tights name.
Starting point is 01:02:54 When did Dean Kane play Superman? 1997. I looked this up the other day when he first came up. That was the last season of Lois and Clark. I love that show. I was gay. Listen, he was hot. He was.
Starting point is 01:03:06 Did you guys see Tim Miller on Pierce Morgan with Dean Kane? It's worth watching because Tim really goes hard at him. Dean King gets really, really mad. The Tim keeps saying, ICE is hiring a bunch of unqualified idiots like former actors, and he gets really mad. And at one point he yells at him, and I was a former NFL player. So I was like, did he play in the NFL, really? Apparently, Dean Kane was a really good athlete. He played a Princeton.
Starting point is 01:03:29 He was a defensive back. And then he, like, signed with the Buffalo Bills, but got hurt in training camp. But you can't call yourself an NFL player, Dean, if you just went to training camp. You got to make the 53. Yeah, and now he just moaps through a ropes course. Like, being in ice is not a fun job, I don't think. Unless you really like to, well, he's also 59. Does he want to just go beat up people?
Starting point is 01:03:53 Like, what does he want to do here? That sounds like. Right. Well, that's the problem with who they're recruiting. It's like part of it, like, you know, the, like, do we need a bunch of libs to go sign up for ice? Maybe. Oh. Probably not.
Starting point is 01:04:04 Well, now that, you know, you can be as young as 18. You can be as old as 60. They've changed the age limits. And they're paying you money and they're forgiving your college loans. And then they're just. gonna you know they've cut the wall street journal went and did a story where they watched ice training for six hours and one thing they notice is they've cut the training time from 16 weeks to eight weeks and basically it's people who've never you know fired a gun before had a gun before and
Starting point is 01:04:28 they're just like eight weeks of training we're gonna give you a gun we're just going to send you out there crawl through that pipe crawl through that pipe it doesn't matter how fast use your badge yeah you have a week to crawl through the pipe and remember gi jane when uh like gi jane refused to go along with the lower standards. So she kicked the stool out of the way because she was going to hop the wall, the full wall. Yeah, yeah. I only remember Demi Moore shaving her head.
Starting point is 01:04:51 That was it. That was like a controversy, right? Yeah, there was controversy around G.I.J. Yeah. That's when he was playing Superman. Lois and, I was going to say, Loisson, Clark, G.I.J. Bill Clinton was president.
Starting point is 01:05:00 Dean King was also in Beverly Hills, 9-0 at some point. Really? So says my GPT. Did I just checked that. Dean Kane. Your GPT took a break from worrying about fascism. Yeah.
Starting point is 01:05:13 Anyway, good guy. All right, we're going to take a quick break. But two announcements before we do that, the newest season of Crooked's award-winning limited series is out. Shadow Kingdom Cole Survivor Exposes one of the deadliest battles in United Mineworkers history. It's hosted by Niccolo Minone, who offers new details about an infamous murder trial
Starting point is 01:05:32 that rocked the country in the 1960s and reshaped the American labor movement. First two episodes are out now. Listen on the Shadow Kingdom feed wherever you get your podcast. Or better yet, friends of the pod, subscribers can listen to the first. season of Shadow Kingdom right now. Join Friends of the Pod at Cricket.com
Starting point is 01:05:47 slash Friends. Also, for those of you who watch the pod and don't love ads, you can now stream ad-free video of Pod Save America and your other favorite shows with a paid subscription to Cricket. Ad-free video is available now on Supercast, Substack, and YouTube. Visit cricket.com slash friends to learn more.
Starting point is 01:06:13 This is an ad by BetterHelp. These days, it feels like there's advice for everything, cold plunges, gratitude journals, screen detoxes. But how do you know what actually works for you? I guess you can try them all. With the internet and information overload about mental health and wellness, it can be a struggle to know what's true and what actions to take these days. Using trusted resources and talking to live therapists
Starting point is 01:06:37 can get you personalized recommendations and help you break through the noise. As you all know, we are. The therapy boys. And it feels good. It feels good to talk to someone and just unload your problems. Yeah, like, I got to, I'll just, I'll anonymize it so you don't know what it's about, really. But, like, I was talking to my therapist the other day. I was like, I got to work with these two f*** bozos.
Starting point is 01:07:01 And, like, I don't want to say who they are. But Elijah and Dan. And I was like, these two bozos. You see this, this woman has been making TikToks about how she fell in love. with their therapists, because our therapists are sending her secret signals. Oh, man. There's a whole discourse on it. We shouldn't be having the phones.
Starting point is 01:07:20 No. But we should be using the internet for good purpose. Like to Zoom with your therapist, which you can do on BetterHelp. Exactly. Because if you don't want to go in person, BetterHelp is the place you want to go because you can just, you know, from the comfort of your home. I guess what is that. That's what that's, I guess that's talking to a therapist.
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Starting point is 01:08:08 That's BetterHELP.com slash PSA. On Friday night amid an epic news dump, Donald Trump praised Intel and its CEO while announcing that the U.S. government had just taken a 10% stake in the American chip manufacturer mere days after calling for that same CEO to resign immediately over his supposed ties to China. Joining me now to help figure out
Starting point is 01:08:35 what the heck is going on here is James Sirwiki, who writes about economics for the Atlantic and Fast Company and who's been covering finance and business for decades. James, thanks for being here. Thanks for having me on. Let's just start with this. Can you just walk us up to the investment to understand what kind of position Intel was in and what the challenges were that it was grappling with? So Intel is obviously the biggest American chip manufacturer. That is to say, they make chips in the United States.
Starting point is 01:09:06 And you're all familiar with Intel inside. They built an enormously successful business primarily by providing chips for computers, PCs, and the like. But over the last, I don't know, let's say decade, 15 years, let's say the last decade, they have really run into trouble because they are not making the kind of GPUs that, the general processing units that companies like Navidia and AMD, advanced micro devices make that are powering things like artificial intelligence and the like. So Intel has been trying to sort of recapture a part of that market and to become essentially what it once was. And it's invested a huge amount of money. I mean, I can't remember the number
Starting point is 01:09:53 exactly, but it's something like $109 billion that it put into capital expenditures over the last five or 10 years. But it's been struggling. And, this has been an issue for, obviously, for Intel shareholders, and I think also it became an issue for a lot of American policymakers who saw it as a problem that America would not have a chip manufacturer that was making chips in the United States. And so as part of the Chips Act, which was passed under the Biden administration, the point of the Chips Act was to subsidize chip manufacturing in the U.S., not just for Intel, but for other companies as well. But Intel was going to be one of the chief beneficiaries of this.
Starting point is 01:10:43 And so that's kind of where we stood as of, I don't know, let's say a week ago. The other thing that's worth mentioning is you talked about the CEO, he's a new CEO who was essentially hired to replace the previous CEO, who was basically let go because the company while spending huge amounts of money was not really delivering on the profit front, which is obviously what shareholders care about. So Intel isn't making the right chips. Like if you want to make a fake photo with seven boobs on a beautiful woman, 25 fingers, their chips don't do it.
Starting point is 01:11:17 So they're in trouble. But they're about to get a bunch of money through a law passed by Congress through the Chips Acts, a bunch of many billions of dollars. Yes. In a bill that Trump hates because it's a Biden bill. Yes. It's in that context that Trump calls for the CEO to resign. Then there's a meeting at the White House between the CEO and several members of the
Starting point is 01:11:41 administration. The tone becomes much more conciliatory. And then a few days after that, we get this announcement. Trump is saying, great news. I just got a 10% stake in Intel and it cost us nothing. what was your reaction to that and what have you learned about it like what like what is this so there are a couple things to keep to keep in mind here the first thing is that this is actually one case where trump i think is actually telling the truth so when intel in its press release
Starting point is 01:12:14 announcing the deal intel sort of tried to frame it or sort of fudge it and make it sound as if the united states was putting new money into the company in exchange for this stake uh because you know, what the U.S. government is basically doing is it's essentially taking 10. It's 9.9% of Intel. The U.S. government is going to own almost 10% of one of the most important companies, arguably, certainly historically, one of the most important companies in America. This is incredibly unprecedented. There are definitely been times where the U.S. government has taken stakes most obviously in 2008 during TARP, but they typically, in fact, maybe have always come in times of crisis where the companies were either we had a broader financial crisis where the
Starting point is 01:13:02 company was really struggling, Intel's struggling, but it's still worth $100 billion. It's not, you know, on the verge of going under. So this was a really startling thing. And basically what I think the way to think about it is basically Trump and Howard Lutnik, who's the Commerce Secretary and has become sort of Trump's kind of fellow deal maker, effectively, I think Intel was coerced into giving the government roughly 10% of the company in exchange for those chipsack grants that effectively it was already supposed to get. And the idea is, like, we are going to release these grants to you.
Starting point is 01:13:43 We will give them to you, but only in exchange for 10% of the company. So this is what's so strange to me about this, right? Howard Lutnik and the CEO film like basically a hostage video where they say, hey, he doesn't even need this money, but it's gate that he's getting it. We're so happy to be working together, whatever that means. The CEO makes a kind of unctuous statement of we're going to make Intel great again, which like made me want to, you know, barf. And none of it really computes, like even on its own terms, right?
Starting point is 01:14:18 Because as you said, Intel's not about to go under. It's a massive company. It's been able to get the financing to put in 10 times that amount of money into its own growth. If it wants to sell a 10% stake, it doesn't need to give the U.S. government a discount on 50 million shares. It can just, it can get the financing through a loan. It can do it in a hundred different ways that don't involve giving the U.S. government a stake. So what exactly is Trump, like what do you believe is actually causing this if it's, if it's, It's not just this pool of money from the Chips Act.
Starting point is 01:14:54 Well, I think the pool of money is important. I think Intel does want it. And I think, as you said, I think that video is very, very odd because, and it's worth watching, it's only a couple minutes long, because the Intel CEO says, we didn't even really want this money or need it. And then Lutnik says, yeah, they told me they didn't even want it. But they decided to basically take it in exchange for 10% of the equity, you know, because it was fair.
Starting point is 01:15:19 And I'm like, wait, what? if they didn't want the money or need it, why would they give you 10% of the equity? So I think there are a couple of things. I think, you know, they wanted the money. I thought the money was, is useful to them. And in putting more money into their businesses or whatever.
Starting point is 01:15:35 Some of the money, interestingly, was originally from the Chips Act, and then it recently got diverted into this somewhat odd secretive defense program called Secure Enclave, where Intel is the experience. exclusive provider of chips to this do this thing that we don't know what they're doing. But that money was originally from the Chips Act. So it's basically all Chipsack money. So I think that was it. I also say, this is entirely speculative, but I think it's probably not a coincidence that Trump went from saying the CEO was going to be fired, should be fired, to, you know, 10 days later, the CEO being like, oh, you know, we're going to work together
Starting point is 01:16:15 and the like. And so I think it's, it would not be surprising that there was a connection between those things. And let me just say one other things, which is connected to what you said, the video kind of embodies this thing that we've seen over the last, you know, few months, which is CEOs basically cowtowing to Trump. You know, we saw Tim Cook do it. We've seen host other CEOs do it as well. There is something about it that just feels just like creepy. And it really does feel like, you know, this is the kind of extreme version of it, where it's not just that the CEO is sort of paying obeisance to Trump. It's that he's actually giving Trump 10% of the company in order to kind of keep things copacetic between them.
Starting point is 01:16:58 Right. That it's sort of a, well, that that's what I'm getting at here too, which is, okay, fine. Sure, of course they want the money. But this is about more than that. This is about seeing value in a good relationship with Trump for a bunch of future business reasons that they may know about or may anticipate. This is also not rooted in law at all. Like there's no, right? Like there's no, the Chips Act did not make any claims about the investment for equity. The Congress has not passed any kind of law for how we hold stocks. We don't have a sovereign wealth fund though Trump claims to he wanted to create one.
Starting point is 01:17:36 Lutnik is out there saying this is a down payment on a sovereign wealth fund. Now, I've seen some people try to defend this and say, you're just a bunch of liberal idiots, because you're going to turn down. You like the old way where we just gave companies money. We've been doing Tesla. We've been doing all kinds of things to help our industries. Why doesn't Uncle Sam get its beak wet? Why can't we get a taste of it?
Starting point is 01:17:59 Can you just talk about, like, what is your reaction to that argument? Like, why are you so offended by this? This is just a good deal for America. There are a couple aspects of it. I mean, I think it's true. I assume there are people on the left in particular who are perfectly happy to see, you know, this company kind of a big company, called on the carpet by the government and having to hand over money. From my perspective,
Starting point is 01:18:21 I think there are a bunch of problems with it. The first is just the obvious problem of having the government be a major player in any business, right, which is that it means that the government is invested in that business's well-being, which then means that the government may look out for that company. It may cut its extra deals. It may make it easier for that company to find customers, it may do business with that company in a way that it would otherwise wouldn't do because it doesn't want the value of its stake to drop. Alternatively, it's also the case that the company now has to think about the government, right? Because in theory, as you said, I have no idea, we have no idea how this thing is going to be structured or what rules are
Starting point is 01:19:01 going to govern it. But in principle, it seems like, you know, Howard Lutton could decide tomorrow he's just going to sell the stake, right, which would crater Intel stock price. So Intel is going to have to, like, worry about, well, how do I make the government happy? If I'm, you know, building a new chip fabricating plant, do I have to put it in a place that the president will make the president happy or we'll make the next president happy or whatever it is? So those things, I think, are all really problematic. And then I think what follows from that is that other companies, Intel's competitors are going to have to start thinking like, oh, God, do I have to make a deal with the president now so that I don't get screwed over on tariffs or. you know, the government doesn't come down on us in some way or another, you know, they're basically competing to one degree or another against the government now. And,
Starting point is 01:19:48 and so in that sense, I think this kind of thing feeds on itself and creates a sort of model where companies are just having to constantly pay too much attention to what the government is doing. There's one other aspect of this that I think people maybe don't really, haven't really followed. And that is that taking equity actually defeats the purpose of the subsidy. Like the point of the subsidy was that we wanted to incentivize chip production in the United States because we thought for economic and national security reasons, it was important for companies to invest here in the United States. Well, the point of the subsidy is like, we're going to reap all these benefits, social and
Starting point is 01:20:27 economic benefits, so we're going to in effect subsidize, help subsidize the production. But if I'm exchanging, if I'm demanding the total value of that and actually a little bit more than that in equity, there is no subsidy. And so now companies, if we, you know, have another subsidy program, companies are going to have to say to themselves, I don't know, do I want to do this? Because if I do it, what's going to happen? Is someone going to come to me a year from now and demand 10% of my company in exchange? And so I think it makes even that kind of policy less effective than it would otherwise be. It gets at how the way Trump does business is actually not beside the point, right?
Starting point is 01:21:04 Like there are many objections to sovereign wealth funds, right? Like Norway, I believe, has one. point if it doesn't I'm not sure if it's how how ironclad this rule is but it invest outside of Norway right invest outside of the country to avoid the influence of politics domestically even if the United States created a sovereign wealth fund which would be quite silly given that we have a massive fucking debt right we don't have we're not we don't have a surplus of oil wealth but even if we did there would be all kinds of questions about the benefit to taxpayers the way it distorts the market the influence of politics all of those would be questions
Starting point is 01:21:39 this is being done lawlessly, which means companies have no idea when Donald Trump will come knocking, which is I think like you describe it as creepy. It's un-American to have CEOs showing up at the White House with bobbles and and like pledging their fealty and using his slogan. But it speaks to me about how dangerous this is. And I'm wondering if you're surprised at all by how, first of all, how obedient. these titans of industry have been, uh, and why there isn't any more of a kind of collective response from corporate America about how obviously stupid this will be in the long run for them to go along with it. Uh, I think it, I think the reason, I think the fact that there has been no collective corporate response speaks to some degree to the fact that, uh, there is no
Starting point is 01:22:35 easy mechanism for corporations to kind of work together. I mean, I guess, you know, their organizations like the business roundtable, whatever. But I think that each company is essentially trying to like look out for itself. And in doing so, um, the idea of a collective response just becomes kind of hard to pull off. But I think the bigger problem here is the one you kind of pointed to, which is this is the way Trump is basically running the economy, right? He's running it as essentially a tool of his own personal interests, right? Not personal like necessarily enriching himself. But it's just he's like, he loves tariffs. So he's imposing all these tariffs. Companies are essentially going along with it until they, I'm sure they're hoping the Supreme
Starting point is 01:23:17 Court will overturn them. But if the Supreme Court doesn't do that, then they'll just have to find ways to work around it. And I think it is, an American is, I think actually the right word. I mean, you know, the American economy was real, look, the government plays a role, big role in the economy. But I think the American economy was really built on the principle that you don't want government picking winners and losers and certainly don't want, don't want it picking winners and losers in this dramatic of fashion. And so I think the fact that, you know, companies are going along with it is I think a lot of them just don't know what to do at this point and are trying to figure out how can I kind of manage this problem without actually kind of wrecking my
Starting point is 01:23:59 business. And that's, I think, where they are at the moment. So as certainly members of the administration have now been out there saying this is going to be the first of many deals. The TikTok, which is continuing to function completely outside of the law, ties into this because Trump talked about the U.S. taking a stake in TikTok. Do you just talk about what happens next? And then a little bit also like about Republicans who I'm old enough to remember when Republicans thought seizing the means of production was a problem. Yeah, I mean, I think the overarching problem here is really this question you've kind of mentioned a few times, which is lawlessness, right? I mean, Trump is doing all of this stuff effectively without any statutory and certainly without any constitutional justification. I mean, there's just nothing that really authorizes him to do to do what he's doing. And that applies, I would argue, not just to, you know, taking this 10% stake in Intel, but it also applies.
Starting point is 01:25:03 to his entire tariff policy, right? All of which is effectively conjured to a large extent, I think, out of thin air. And I think the real player here who has been totally silent is Congress. So you have plenty of Republican, let's say not Republicans, but sort of libertarians who have been, you know, invading against the tariffs and certainly are invading against this. The Cato Institute has been excellent on these issues all the way through. But Republicans in Congress are just happily going along. with this, both, or quietly going along with it, at least, both on the terror front and and on this. And, um, and I think until, uh, they stand up and I don't imagine them standing
Starting point is 01:25:44 up, it's really hard to imagine anyone, uh, other than the Supreme Court, uh, stopping Trump and Lutnik from doing this, you know, I mean, Lutnik is just, this is just the way, Lutnik, I think is just completely, they're just indifferent to the idea of like, yeah, they're just indifferent to it. It's like, you can't do this. Like, why, why can't we do it? We're just going to do it. It's a great idea. And you're like, but you don't have any, you have no legal justification or tools for doing this.
Starting point is 01:26:09 It doesn't matter. It's, it's so, like, the amount of sway lawyers have in Democratic and previous Republican administrations, I think would shock. It would shock you if you compared it to what's happening here. Is there like, do Intel shareholders have any claim here? Because they were entitled, the Congress passed the money, caught them. money was in tight intel was intel was going to get the money and trump interferes and then demands shares at a discount at a discount they have to have some claim to to something here right yeah i mean i assume
Starting point is 01:26:44 intel shareholders some intel shareholders will sue um because you know effectively their stake was diluted by 10 percent i mean intel again is trying to claim that no no no the money you know was was was injected into the company and it's like no come on you were supposed to get this money It was all set. Because Intel still has lawyers. Because Intel's, there's still lawyers with some sway over there at the chip place. Yeah. And so I assume Intel shareholders will sue.
Starting point is 01:27:10 I think the problem is that it may well run into the business rule, business judgment rule, where the board will say, we really thought this was in the best interest of the company. And so therefore, you know, you have to go with us and trust what we did. Now, I find that, I'm very skeptical of that. There's a lot of deference to boards of directors in corporate law. But how can you claim it is in the interest of Intel to do this without basically staying? It's a bribe because we did it because we think giving Trump this stock will produce ancillary benefits outside of this deal because as you point out, the stock is worth more
Starting point is 01:27:51 than the $8 billion or $9 billion that's going to come via the Chipsack. So they have to come out there and say giving Trump equity will produce a benefit. I, like, there's no, I don't understand, or, you know, well, I'm not, I'm not as good as they're lawyers, but, but that to me is the first assumption. No, I mean, I think that's true because even if, I'm sure, you know, Intel will try to argue or will argue that the Chipsack grants, well, in theory, there was, you know, the Commerce Department could have turned them down or rejected us, blah, blah, blah, blah, but even if you accept all that, as you said, or I guess as I said, there's a gap between the value of the equity that Intel gave up and the total amount of, of money that they were going to get from the government. And that is basically just a gift. I mean, it's just a gift. That's all it is. And so trying to explain to courts why they gave that gift, yeah, I'm sure they will have to construct some argument about, you know, the future value of their relation. It'll be really interesting to see if this goes to court, if they actually
Starting point is 01:28:51 try to make an argument along those lines. Because it does feel like that's basically what happened here. I mean, obviously, the CEO can't say, I didn't want to get fired. So they will have to come up with some other explanation for it. But that raises, anyway, but that raises all, like, his personal interest is different than that of the shareholders. He has an obligation to shareholders that's called into question by this, too. Totally. I don't know.
Starting point is 01:29:13 Anyway, tough year for the wisdom of crowds, James. Well, tough year for at least the part of the crowd that voted for Trump. Yes, tough, tough, tough. James wrote a book called The Wisdoms of Crowds. It was a hit in case you can keep up. James, any final thoughts on this? Do you think we should get a stake in TikTok? as Americans. Are you enjoying the experience of being an Intel shareholder? No, I'm not an Intel
Starting point is 01:29:35 shareholder, but I, the one that you are, presumably you're a taxpayer. I guess I am now. I will be soon. But what I will say about that, actually, let me say one thing about that, which is part and parcel of this whole thing. To me, one of the most frustrating things about this beyond the lawlessness and the indifference to any kind of sense of the rule of law is simply the fact that they tell us nothing. So, like, a good example of it, this is one version of it, right? We don't know how it's going to be structured. We don't know whether there'll be any rules on what we can do with this, what Lutnik can do with the stake. But go back to Lutnik's story about the $600 billion dollars or whatever it was that Japan and South Korea were supposed to put in, are going to put
Starting point is 01:30:18 into the United States as part of these trade deals. We have seen nothing. There's literally no paperwork. We have no idea what it is. Lutnik said that the president was going to be able to invest that money at his discretion. Again, totally unconstitutional, no statutory justification for it. But set all that aside, we don't know what it looks like. It's just something that these guys are telling us, and we're supposed to just go along and be like, okay, I guess that's the way things are. I mean, it really is extraordinary to me how indifferent to the law they are. And by the way, that is the experience of trying to understand what's going on in some of these arrangements. That also had to do with that soft bank announcement, all these
Starting point is 01:30:57 different announcements, you, you come into it and you say, have I just missed the brief? Did I miss the memo? Have I missed the documentation? Or is there really just nothing? Yeah. And it feels like there's nothing. I mean, you know, I mean, Lutnik was on TV the other day and he said he was talking about, I think, I can remember what agreements. He was like, well, it's not like you're going to get a 250 page trade agreement or anything. I was like, why not? Why not going to see what it looks like well and again like we and and given that they are doing this outside of congress presumably they would have some sort of sense of propriety to say yes because this is outside of congress we're going to actually create a process to help you understand what's going on because
Starting point is 01:31:34 there is no law about what happens when treasury seizes stock from intel where does it go where do we hold where is it going to go and are we opening a vanguard yeah who's managing it like i mean literally can howard let nick wake up you know a month for now and be like you know what? This is terrible. I'm just going to sell it. I mean, could he do that? I have no idea. And it is quite extraordinary that they just don't care. I mean, you know, it's that sort of recurring motto about Trump is like nobody cares. And it just feels like, I don't know, everyone's like, all right, I guess that's just how it is. Everybody except us, but we care. And other people listen and care. Yeah. And that's a good, that's where we'll have to start.
Starting point is 01:32:12 We have to start. James Sirwicky, thank you so much for your time. Good talking to you. Thanks for having me on. I appreciate it. that's our show for today dan and i will be back with the new show on friday talk to everybody then you guys are going to burn the flag right mm-hmm do you guys see that the white house tweeted a kilmar abrigo garcia uh photo that is the shepherd fairy with ms 13 with the obama logo on it oh i thought they had done that way back when it was the first story but yeah they're why they leave the logo on i don't know to send a message to us yeah anyway message received thank you If you want to listen to Pod Save America ad-free and get access to exclusive podcasts, go to cricket.com slash friends to subscribe on Supercast, Substack, YouTube, or Apple Podcasts.
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