The Trish Regan Show - 🚨BREAKING: FBI Opens Criminal Investigation into Letitia James’ Corruption Scandal

Episode Date: May 8, 2025

Breaking news to report on The Trish Regan Show: Kash Patel has opened an official criminal investigation into Letitia James and the mortgage fraud allegations stemming from her real estate purchases in New York and Virginia. Meanwhile, Disney’s ABC just recieved a stern new warning from Trump’s FCC director Brendan Carr. It comes just as the company announces more than a $2 billion loss in its linear TV business. Plus, great news!! President Donald Trump announces a trade deal with the UK. The left - predictably - isn’t thrilled. But, it’s awesome news. We’re on it! SUBSCRIBE TO MY CHANNEL: https://Youtube.com/TrishReganChannel Become a TEAM MEMBER to get special access and perks: ▶️ https://www.youtube.com/channel/UCBlMo25WDUKJNQ7G8sAk4Zw/join 🟢For independent views on the market - sign up for my financial newsletter The 76report at: ▶️ https://76research.com with CODE: DOLLAR today.  Today’s show is sponsored by:  🟢https://TrishLovesGold.com — American Hartford Gold — go to:  ▶️  Https://TrishLovesGold.com or TEXT TRISH to 65532 to receive up to $15,000 in free silver with American Hartford Gold or go to https://TrishLovesGold.com. You can also use Trish's name when calling 1-844-495-1115.  🟢 Go to  ▶️ https://balanceofnature.com and use CODE: TRISH for 35% off and FREE SHIPPING OR CALL 1-800-246-8751 WITH Code Trish 🟢 Go to https://PatriotMobile.com/TRISH or call 972-PATRIOT! Learn more about your ad choices. Visit megaphone.fm/adchoices

That day is finally here. What do we tell you? You've got to turn into the Trish Riegan show. I predicted this would come. I didn't think it would happen this week necessarily today. We were just talking about Letitia James yesterday. And of course, what Donald Trump was saying, about how Pam Bondi was going to be looking into this.

And what do you know? Today, ladies and gentlemen, we're in a situation where Latisha James now finds herself the subject of none other than a criminal investigation by the FBI. We're going to get all into that. Plus, Disney lost some $2.2 billion on its linear TV assets business. Why doesn't that surprise me? We're going to talk about Disney and all the pain it's feeling alongside a new FCC

warning from Brendan Carr to Bob Eiger. And great news on Wall Street. Heck, I love this. I love this. I love this. We've got a trade deal happening, baby. Take a look at that. Market's higher on all of this news.

If you've been looking at the market and trying to kind of get your head around volatility. Make sure you go check out my company, 76research.com. I started with very dear friend, longtime investor, brilliant, brilliant investor. We've had tremendous picks. We just did a whole thing yesterday and what you've been missing if you haven't signed up. You've missed 40% upside in a whole bunch of stuff just over the last couple of months. So go to 76 research.com, use code word dollar, my gift to you, just a dollar a month for the first two months. But we are off to the races. Oh my goodness gracious. Letitia James is open. is now the subject of a criminal investigation.

I repeat, Latisha James is now the subject of a criminal investigation. The FBI, Cash Patel, has opened one. Wow. And this is all related to the mortgage fraud allegations, which are quite serious. New York Post reporting this first. You've got to hand it to them. They get great, great titles. Tish in troubled waters.

They write FBI opens formal criminal. probe into New York Attorney General Letitia James over alleged mortgage fraud. Wow. Look, we knew this would happen, right? Eventually, we didn't necessarily know that she had all this alleged mortgage fraud, which by the way gets really weird. I've got to show you the documentation which she's saying that she's the wife of her father. I said before, like we're getting into Ilhan. Omar territory on that one.

Anyway, you know the brother, allegations, of course. Anyway, this is kind of a big deal, the actual allegations that they're making. But first, I just want to remind you that she didn't have a prayer, right? Because she was setting herself up for all kinds of trouble. She just wants to be an obstacle for this administration. As I've said before, you know, this is Fed versus State. And look, there's obviously a system that's set up so that we value states. But when it comes to some issues like federal dollars, federal money,

federal enforcement of the border? I'm sorry, Tish James, you are out of your league and the Constitution says it. But we don't even have to go there right now. They're finding her on simple mortgage delegation fraud. Think about the irony of that, given what she was going after Donald Trump for, right? Remember, this is a very different team. Mike Davis, one of the former attorneys to Donald Trump. He said this a couple of months ago. I haven't played it for a bit for you on Benny's show, but I just love it. I mean, I could say it, but he says it was such Panish that we might as well play it, right? Different crew. Let me just say this to big tish James, the New York Attorney General. I dare you. I dare you to try to continue your lawfare

against President Trump in his second term because listen here, sweetheart, we're not messing around this time and we will put your fat ass in prison for conspiracy against rights. And I promise you that. So think long and hard before you want to violate President Trump's constitutional rights or any other Americans constitutional rights. It's not going to happen again. I just love that, okay? We're going to put your fat, you know what? You're fat tushy in the slammer because you are in violation of federal law.

Anyway, in all seriousness, they don't even have to go into the fact that she was extremely egregious and way out over her skis in terms of going after Donald Trump, which, by the way, they should. you know, Elise Tophonic had requested at the New York Bar Association look into revoking her law license back then because she was over extending her power, something that even the judges at the appellate court brought up. But we don't even have to go there right now because they get her on this. They get around something pretty simple. According to William Pulte, who oversees basically all these federal loans, he's alleging that basically she said that her principal residence was in Norfolk, Virginia when she was applying for a federal housing loan.

So this is federal taxpayer dollars. Okay, this is like, this is like so other level than what she was going after Donald Trump for, for which he has nearly a 500 million. Sorry, now with interest, it's over 500 million. Half a billion dollars, right, that he's still racking up charges on there in the state of New York. But what's crazy here is that she was actually trying to take advantage of federal loan money, and she said while she was, AG of the state of New York.

She said that she lived in Virginia, and she intended to make that her primary residence. So this is a document they have, and that's kind of like, whoa, why would you do that? Other than you wanted to get a better rate, because you see, you know, the federal government loans, like they really don't like it when you have a second home. The idea is that you have one home,

and then they know you're committed to that, and they kind of will give you a better rate on the first home, because once you get into the second, and it gets a little bit more dicey. So here we go. Pulte's accusations stem from that when she purchased her niece, Charmise Thompson's home in 2023 after securing a $219,780 mortgage as her, quote, principal residence, that was actually in violation of the law because she was at the time serving as New York's top cop.

The state AG has to live, obviously, in the state of New York while in office. but that document that she signed, cited Power of Attorney Papers from 2023, signed by the AG authorizing the purchase of the property in which she attested, quote, I hereby declare to intend to occupy this property as my principal residence. Now her lawyer's like, oh, gosh, you know, nothing to see here. This was just an oversight, a clerical error, nothing to worry about. I mean, she signed it. I hear about declare to intend to occupy this property as my principal resident. You think you do that kind of thing?

If you're living in, I mean, you think I would, I live in the New York area. If I go and buy a vacation home in the state of New Hampshire and intend to stall one of my family members in it, you think that I'm going to say, I intend to live here? That's like, that's kind of a no-no. I mean, for goodness sakes, the woman's a lawyer, right? Okay, oh, here's the other goody. So this is back again all the way back to 19.

But I don't care. So what? We'll go all the way back as far as we have to go back, ladies and gentlemen, 1983. Look at this. Leticia James, signing a document to buy a house with her father, listing herself, signing the document herself as her father's wife. You see, because she was just out of school and she was apparently earning a salary and he wasn't, so she needed to somehow help him get the place.

So therefore now she becomes his wife. Right? Like, this is messed up. These are people who don't actually respect the law. I mean, we knew she didn't respect the law, given what she had done to Donald Trump. But this is like whole other level stuff. Okay, let's go to, you know who's doing some great reporting on this?

The Times Union. So they laid it all out. They talk about that 1983 purchase of the Queen's residence with her dad. And Lowell, the lawyer, that by the way, U.S. no, forgive me, New York, New York taxpayers are paying for because she's saying this is not a personal matter, this is a state matter, I have to have the state pay for my attorney, so she hires Abby Loll, who then attributes these documents, you know, in which they say that she is her father's wife, it's just another clerical error made by someone else.

Quote, he asked his daughter, then a few years out of school, to help him by allowing him to add her name to the mortgage application. Mr. James filled out the mortgage material wherein he described their relationship as being spouses. Oh, I see. I'm going to blame Daddy. Just blame Daddy. Throw him under the bus, Letitia.

Yeah, lovely lady that you are. Okay, described their relationship as being, quote, spouses and purchased the home without his daughter's involvement. However, James, who was then 24 years old and a college graduate, did sign the notarized mortgage herself, along with her father, and on one of the document, on all those pages, she's listed as her father's wife. So are we just supposed to say, oh, she didn't know as she's signing a notarized document, a lawyer that she is, that she signed on as daddy's wife? Come on. Oh, this woman's going down.

She's going down, and it's going to be quite interesting to see. This is the house, by the way, in, or for Virginia, where she claimed that she was going to live full-time. She claimed that this was going to be her full-time residence, this courtesy of the New York Post, despite serving as Attorney General in New York. Well, that's kind of a problem, right? And Pulte points out exactly what I was just telling you, that actually the reason why some people might choose to do that, although it's fraudulent, it's like criminally fraudulent to do, the reason she may have done that is because, quote, primary residence mortgages receive more favorable loan terms, including lower mortgage rates, than secondary residence mortgages.

Lenders views secondary residence mortgages is significantly riskier, as a borrower is more likely to continue paying off a primary residence mortgage during any kind of financial hardship. So, wow, it's just the sweet irony of this, given what she went after Donald Trump for. I mean, think about that. Here she was going after him for a quote-unquote mortgage fraud because he got a preferable rate because he told them that he believed his property Mar-a-Lago was worth X. And she's like, no, no, no, no, it's only worth why. I mean, she wanted it to be worth something like $18 million. Give me a break.

I mean, the dirt is worth more than $18 million, for goodness sakes. The property, because he made income off of it, was making something like $56 million a year. So the earnings stream alone, I mean, you've got to take a multiple of that, Latisha, and on top of it, you find me that kind of acreage on the ocean in Palm Beach, on that stretch, for $18 million. And I'll tell you, honey, I'll buy it all day long. You know what? I'll buy 10 of them.

We'll get a big group of investors together because that's the kind of deal you want. No, there's no way it was worth that. So how is Leticia James, the Attorney General of New York, trying to determine the valuation on Mar-a-Lago, a property that, by the way, is a private transaction between Deutsche Bank and Donald Trump. It was honestly, I got to tell you guys, maybe it's because I'm a business reporter and I kind of eat, sleep and breathe this stuff. Of all the lawsuits, that was the most offensive to me. That was the most disgusting, most egregious and most dangerous from the standpoint of who the heck wants to do any business in the state of New York because you could have a

Letitia James breathing down your back any second just because she doesn't like your politics or she considers you a threat. And that, that my friend. friends is what we need to get rid of. We don't need people like that in our system that are going to threaten everything and prevent other good people from going into politics. I'm worked up. I'm angry. I'm disgusted. I'm disgusted that this woman has any position in all. And I hope to God that Cash Patel and his entire team take her down because she doesn't deserve it. She doesn't deserve this job. She should not be part of our system. Here is the Brownstone in Brooklyn. Okay, again, another opportunity to score a better rate.

Why? Because she said there were four dwellings when there were actually five. And because she was getting a kind of public assistance type of loan of some sort, you couldn't have five dwellings you needed to make it four. And so she fudged the numbers on that as well. And these, again, are all allegations. They do have the paperwork. You've seen some of it.

But she's like, no, nothing to see here. I will not be proven wrong. there will be no investigation, et cetera. Huh. Funny. Today they just announced on, Letitia. So you're going to have to eat your words on this. I will respond to these baseless allegations at the appropriate time and in the appropriate way.

But I am 100% confident, confident that it will not result in any criminal indictment or action against me. and that it is nothing more than a revenge tour and that Donald Trump just ultimately got to the Jays and I was next. The key allegation, again, it sounds like you don't want to address them here, but I'm just going to put it out so people understand that a property that was owned in Virginia

and a mortgage that you signed, if I'm not mistaken, for that property, that they say you falsely represented yourself as a resident of Virginia, and that that was essentially amounts to mortgage fraud since you're a resident of New York. What is your response to that? It's baseless. Everybody knows I'm a resident of New York, specifically Brooklyn.

And again, we will respond at the appropriate time in the appropriate way to these baseless allegations. And some media outlets like the Daily News over the weekend has indicated as much. Okay. That's all you want to say. That's all that I'm going to say. And you know what? He's not going to ask her for anything else because he's a member of the cabal that is the left-wing media. That was Chris Hayes, you know, the one that's like the carbon clone of Rachel Maddo.

Like you can't really tell him apart except one's a boy and one's a girl, we think. So she goes on his show and she's like, oh, you know, no problems, no problems. Well, Kosh Patel thinks there's a problem and guess what? Pam Bondi, I'm guessing, is going to think there's. a problem as well. She has to be careful here because the DOJ is supposed to have some independence, obviously, from the administration. But how can you ignore this one? How can you ignore mortgage fraud? Like big mortgage fraud, not like what was being alleged by the likes of Letitia James. No, this is big stuff. Here's Donald Trump talking about what he expected.

Oh, and by the way, what an awful lousy person, Letitia James is to begin with. I can say unrelated to that. She's a disaster for New York. She's a horrible, horrible human being. And I think she's a total crook. There's no question about it. But that's just my opinion. Pam's going to have to do what she wants. She's a very bad person. She's a very, very bad person who campaigned solely on I'm going to get Donald Trump over and over again. She's a sick person. But that has nothing to do with what Pam does. Pam is going to do what's right. She always does. I've known her a long time. Well, I guess in this particular case, doing what's right is following through.

So since Cash has made the initiative to launch a criminal investigation into one Letitia James, my expectation is that if the goods are delivered to Pam, she will follow through. She will follow through. She's just hearing about it just the other day as this news was breaking. Remember on the mortgage fraud? Again, she's trying to walk a tight line. She said she appreciates that somebody went and did all the due diligence to go all the way back to 1983 with the father thing because they're going to have some material to work with.

James tried to prosecute the now president, Trump, in his second term. I just want to read a couple of things. Criminal referral, then a response from James' office here in New York. James from both properties listed above, this deals with real estate now, going back decades, really, appears to have falsified records known to beat certain lending requirements and receive faith. loan terms, all right? Her office responded by saying the AG James has focused every single day in protecting New Yorkers. Specialist administration weaponizes the federal government against the rule of law and the Constitution.

She will not be intimidated by bullies no matter who they are. The issue here is what property she owned and whether or not she owned it, whether not she was married, and whether or not her father was involved in all this, without going into the weeds of the details. This stems from the case in 1983 and the year 2000. That's a minimum of 25 years. Someone had to do some digging to find this. Am I right about that? Yeah, Bill, the most I know about the case I just learned from you.

I saw it on breaking news this morning. This case was sent to us from Bill Pulte. We have not seen it. I inquired right before I walked out here, no one in my office has read it yet. We haven't looked at it. Of course, we'll be reviewing it. You just told me more than I've heard about it so far.

Hey, we aim to please with some breaking news of our own. Indeed. All right. Attorney General, Pam Bond. That was good, right? Anyway, at this point in time, you've got to assume that the New York Bar Association is going to consider this ethics complaint against Letitia more seriously. Now, given the partisan nature of everything, perhaps they're saying, well, let's wait and

just see what Cash Patel actually comes up with. But don't forget what happens. happened out in the state of Wisconsin. You had that Milwaukee judge, remember, Judge Dugan, who somehow thought it was okay to escort a man who was allegedly a domestic violence criminal. Like, that's what he was being accused of, and was here illegally. Ice was waiting by the sidelines. She escorted him into her chambers and let him out the back door. So the FBI arrested her because, you know, you can't really do that. Like, you're a judge, okay? These things are sort of obvious to most of us in this world. So the FBI arrested her and what happened? The Supreme

Court of the state of Wisconsin announced that she was suspended from her duties. So one would think in a situation like this, the law committee, the Bar Association, somebody in the state in New York, ought to be relieving Letitia James of her duties and frankly her law license, but perhaps they'll wait until there's a little bit more proof. Don't forget the history of this guys. How litigious this woman, Letitia was, how much she wanted to take him down. I mean, the word on the street was she was just waiting, chomping at the bit to be able to go in there and take over Trump Tower. I don't forget this, what she did. Four days after a judge ordered Donald Trump to pay $355 million for a decade of fraud, New York Attorney General Letitia James

says she's prepared to do everything she can to make sure the former president pays his fine, including she told us seizing the buildings that bear his name. If he does not have funds to pay off the judgment, then we will seek, you know, judgment enforcement mechanisms in court. And we will ask the judge to seize his assets. All right. Well, maybe now they're going to be seizing yours, Tish. And maybe you're going to be going to prison.

No wonder you were so freaking out the other day. And you want me, but you elected me to stand up. continue to challenge this administration. You elected me to stand up for the least of God's children. You elected me to continue fighting on. And I will. Boom. Except you may be in jail.

And the New York Bar is going to strip you. Of your law license, I would expect. You know, you deserve that one. Especially the way you lied. The way you campaigned. You campaigned on going after Trump, for goodness sakes. so sick of this, right? And then lied through her teeth trying to say, well, that wasn't me. I didn't do that. No way, Jose.

The president of the United States has complained that I'm engaging in some sort of political witch hunt, that I've got some personal vendetta against him, that I campaigned against him. That is not true. No, I actually think your days are numbered. Leticia James, you are now officially. The subject to an investigation by the FBI. and all of the mortgage fraud activities that you allegedly did take place in, those are now under scrutiny in enormous ways.

So while you tried to go after Donald Trump, it takes one to no one, right? We were like, what the heck is this that she's coming up with? It was so preposterous and so bizarre and there was no victim and whatever. I mean, in her case, there really were victims, right? Because she was using like federal guarantees. This is the Federal Housing Authority that has come up with this one. Whole other ballgame and Letitia Honey, baby, you're going down. Mark my words.

It's kind of good, right? We're going to get to the Pope. We got lots going on. Disney as well, but look at this, the stock market on fire today. We saw this last night. I was tweeting about this because it was just amazing when you saw what was going on. In the futures market, you saw Bitcoin on a tarot. Listen, I know it's.

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So we got a lot of good ideas. I want you to partake in that. Oh, speaking of good ideas, one of our great sponsors here on the Trisha Regan show, because you know I am fully, fully, fully independent, happens to be our friends over at Patriot Mobile. And I love this company because, you know what? I actually live kind of sort of in the sticks out in the country now. I left New York City behind, thank God. And because of that, my cell phone drops like all the time, all the time. And, you know, I don't want to pick on AT&T, but I'll pick on AT&T, okay? So that's why.

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It's just a disaster. So patriotmobile.com forward slash Trish, 972. Trish, call them today. Oh, Disney. Wow. Disney's getting a whole new warning from the FCC. Brandon Carr's not messing around. He just came out and he said it on live television. Boy, if I'm Bob Agger right now, I am like, you know what, my pants, because this company, like, I'm sorry, I think they're sort of finished. I mean, we haven't even talked about their earnings. They lost $2.2 billion over at the streaming television entity that includes ABC. But, Let's listen to Brendan Carr, because Brendan Carr is putting it out there.

He went on to CNBC, and this story somehow just didn't make any news, except for here, right? That's probably why we get 700, nearly 40,000 subs and growing, and that's why we're getting such a big tune-in, because there's all these stories that the mainstream media doesn't care about and they don't bother with. And ABC is one of them. They're going down. They're all protecting their friends. That's the problem. But Brendan is making it very clear.

I want you to watch this clip from CNBC. The other issue that you've gone after is the DEI policies. Specifically, a really sharply worded note to Bob Eiger on Disney. What is the status of those investigations and how are you even going about doing them? Yeah, the first thing we did, basically day one after President Trump came in, he issued an executive order to end the federal government's promotion of DEI. We did that at the FCC. I mean, you'd be shocked.

We were spending millions and millions of dollars at the FCC promoting DEI. In fact, it was listed as the agency's number two budget priority and strategic priority. We've ended that to focus on our core mission. We've told everybody that's trying to do deals before the FCC that they need to end their own promotion of invidious forms of DEI. Disney and ABC in particular are ones I'm very concerned about. The preliminary data indicates that they look like they were doing intentional discrimination, potentially along race and gender.

If that's true, that's a really big deal. And so we're looking at that at the FCC. And what sort of consequences would you be looking at that? Well, again, it's the full suite of consequences that the FCC could potentially have. So we're going to look at that. But again, the media stuff gets a lot of attention. particularly by the media because it involves the media. But our traditional economic agenda is what we're really pushing hard on as well.

And that's the deregulation effort. Look, we've got to get more spectrum out there. If you remember the first Trump administration, we got tons of airwaves out there. It helped bolster our leadership in 5G. During the Biden years, we really fell behind. So right now we have to get at least 600 megahertz of spectrum out there. Particularly we look at AI, that's loading tons of new data onto our networks. We need more spectrum to carry that capacity.

That's one most important things we're doing. Okay, but not done with the Disney thing. One more question, which is, will you evaluate it differently for companies like Disney who have said that they're going to roll back some of these DEI initiatives? Bob Eiger was pretty plain where he said our business is to be in the entertainment, not comment on social issues. Does that matter? Yeah, I think it's a good thing that they're heading in the right direction. I guess one, we want to make sure that it's in substance, not in name only. And second, while we've got to look at the conduct that took place in the past, if they were sort of intentionally discriminating on race and gender, that's a potential problem under the FCC's own.

own EEO rules. It could be a problem under the EEOC commission. So we're looking at that. So it's just going from bad to worse, okay? Like you can't make this up. This is Bob Iger's worst nightmare. And I kind of think it's sort of funny because don't forget, Bob Eiger was the first one to pull that funding. Remember from Twitter when Elon Musk came in and bought it? And Elon was really, really ticked. He's like, F you, Bob. I hope this doesn't actually have the obscenity in it because we're not supposed to play those. But let's see. We're going to roll the dice. There's advertisers leaving. We talked to Bob Iger today. I hope they stop. You hope? Don't advertise. You don't want them to advertise? No. What do you mean? If somebody's going to try to blackmail me with advertising, blackmail me with money, go fuck yourself. But go f*** yourself. Is that clear?

I hope it is. Hey Bob, if you're in the audience. Well, let me ask you then. That's how I feel. Okay, so it's a little bit of sweet justice, right? Disney was out there, and let's be honest, guys. I mean, all they cared about was wokeness, wokeness, wokeness, wokeness, wokeness, I mean, remember the snow white that just absolutely bombed.

I'm telling you, shareholder lawsuits were going to be coming out for this one because they cost the company a ton of money. They had that Rachel Zegler, who was from Columbia, and that, like, started something, right? And, like, let's let that one go just for a second. Then there was all this other stuff, like, you know, Rachel Zegler was super anti-Israel, and then they had all those dwarfs that weren't dwarfs,

and they wouldn't even call it Snow White and the Seven Dwarfs. I mean, they just ran into one obstacle after another. The whole thing was a train wreck. It was a terrible, terrible, terrible, terrible movie on top of it all. And look at this. I mean, Rotten Tomatoes knew the deal. 1.8 out of 10. This was like after they had sent it to people that they wanted to screen it.

So it was sort of like, whoa, the people you want to screen it are given it to 1.8. So you can imagine that Disney could be suffering from some shareholder lawsuits that say, wait a second, why were you prioritizing diversity above everything else? Brennan Carr's point from the FCC is you were doing something that's actually in violation of the Constitution. You were hiring people based on race, which you can't actually be. do as opposed to being based on talent. So yeah, you lost money. And you heard Brendan say, like, look, we're concerned about the economic proposal of these things. If you're so concerned about ESG and DEI, then guess what you're not actually doing what's right for the company.

You're not actually putting the best people in place. And so we need to get away from that. But the other issue overall for Disney is that they just can't make a go of it. I mean, they really can't. I mean, the streaming business, itself has just taken over this space in massive ways. I'm going to get to that in a second. But again, remember what Carr said. I am writing to inform you that I have asked the FCC's Enforcement Bureau to open an investigation into Disney and ABC. In particular, I want to ensure that Disney and ABC have not been violating FCC Equal Employment Opportunity Regulations by promoting NVIDEI Discrimination. While I have seen reports that Disney recently walked back some of its

DEI programs, significant concerns remain. This was the letter that he sent. and that was dated, well, March 27, 2025. He sent another one right as soon as Donald Trump was elected. So we've had one, two, and now three warnings because now he's on CNBC saying, hey, hey, hey, Heiger, you got a problem. And what they can do to make Arger's life absolutely miserable is that they could revoke all of the ABC affiliate deals.

So in order to get that ABC sort of affiliation in all these stations all across the country, those are sold effectively by ABC to them, but they have to get the okay of the FCC. And Brendan's like, I may not give the okay. And I wouldn't be surprised if he follows through with that really, really in a massive way because they're going back and looking at all these discriminatory processes. But on top of that, on top of that, this is a lousy business. They lost $2.2 billion in linear TV in the last quarter.

And the revenue is down. That includes ABC revenue. They're down by 3%. 2.2 billion. I mean, unbelievable operating income, however, that rose, went up to 625 million. So what it tells you, they're cutting costs. They're making something out of nothing. Like, their business is declining, and they're just cutting costs so that they can still eke out of profit there. Sort of maybe, but they've got lots of legal issues, tax issues, et cetera.

They had layoffs that they had to take into account. So that's why they're losing so much money. They had to pay for Georgie Poo's lawyers, right? And then the 16 million charge. I mean, it doesn't equal 2.2 billion, but I bet the lawyers were kind of hefty. They had some issues over at ESPN. You name it. This is a dying business.

It's over for Disney, which is why Bob Eiger would be really smart to go back to what he used to think in November. Was this November, 2023? Well, you're going through all the things that we want to talk about in the time that we have here. But, I mean, just to sort of wrap up why you're staying. I mean, you said an amendment to employees, you've made important and sometimes difficult decisions. You're proud of what you've accomplished, but there's more to accomplish before this transformative work is complete. So what, again, what's transformative here, and what is the work that is going to take another perhaps two years or even more, even after you do leave, that needs to get done? Well, the transformative work, of course, is making sure that our cost structure reflects the economic,

realities of the business, and that includes disruption. Transformative work is dealing with businesses that are no-growth businesses and what to do about them, and particularly the linear business, which we are expansive in our thinking about, and we're going to look expansively about opportunities there, because clearly it's a business that is going to continue to struggle. Well, let's stop there for a second then, and just let me ask you about it. We're talking, I guess, ABC, the network, the stations, but then the cable networks as well. Yes, correct. FX, NatGeo. Is it possible you would look to sell them?

We're going to be expansive. I think if you can interpret what that word means. You know, we're just getting at that work, but we have to be open-minded and objective about the future of those businesses, yes. Meaning that they're not core to Disney? That they may not be core to Disney, yeah. Now, there's clearly creativity and content that they create that is core to Disney, but the distribution model, the business model that forms the underpinning of that business, and that has delivered great profits over the years is definitely broken.

And we have to call it like it is. And that's part of the transformative work we're doing. Well, we've been having this conversation for a very long time. Well, I think what I'm saying is it's time. In terms of the erosion of the linear business. And now it's kind of closer to obsolescence. Well, as I said, when I came back, one of the things I discovered was that the disruptive forces that have been preying on that business for a while are greater than I thought.

And that's why they're losing $2.2 billion. I mean, look, they're trying to do things. They're like, okay, well, you know, things are improving. We've got 200 million streams last month on our ESPN channel. I'm like, guys, I mean, Trish Regan over here, we're getting 102 million streams on our channel, right? So, I mean, we're not ESPN, thank you very much, but they can't quite figure it out. And so they're stuck, and they're going to keep losing money. And at some point, he's going to have to make a decision to sell this thing.

Either that or they just get rid of Whoopi Goldberg. Right? I mean, that might be the solution too. Just get rid of Whoopi Goldberg and Joy Behar, the view entirely, because it's not really making you any money. I know you're trying to cut costs. You're fired a bunch of producers over there. Maybe get rid of some of the other news division things that are costing you money. Just keep trimming. You're trying to move into streaming. They're trying to get out of linear. Remember, they now have the view on the weekends as if you can't get enough during the day. That's not doing so hot. But, you know, they're trying so we can give it. them some, some applause for that. But I'm telling you, here's the deal. You're going to get rid of your big ticket items, like that view show with the live studio audience. Who the heck needs that? Or this, Biden, on the view today. Why? All the projects, the benefits. How do you lead the world without having the best instructions more? How do you lead the world without having the best health care in the role? How do you lead the world without having the best education system more? How do you lead the world?

and you don't have that done. Did you understand that? I'm not so sure I did. If you did, let me know. Something about how do you lead, how do you lead, how do you lead? Poor Biden, you know, he's trying to make a comeback. My kids are actually asking me the other day, what is Biden doing now?

What is he really doing now? And I actually couldn't tell them. I think that he's trying to articulate some kind of role for himself in the party right now. He's trying, but I'm like, how can he get out there and do anything? I mean, he can't really talk. He can't really walk. It's like, you know, he belongs in a retirement home. So they put him on the view. And, well, you know, he's got his wife there, Jill, ready,

willing and able to save him all along the way. I guess Jill was really running the government. We wondered about that for a while, right? That may have been the situation here again on the show that they need to cancel on ABC in order to save themselves before they completely go out of business. Watch Jill stepping in for the win. Yeah. Mr. President, since you left office, there have been a number of books that have come out deeply sourced from Democratic sources that claim in your final year there was a dramatic decline in your cognitive abilities. In the final year of your presidency, what is your response to these allegations or are these sources wrong? They are wrong. There's nothing to sustain that, number one. Number two, you know, think of what we're left with. We left with a circumstance where We had an insurrection when I started.

The nonsense of civil war. We had a circumstance where we were in a position that we, well, the pandemic, because of the incompetence of the last outfit, end up over a million people dying, many people dying. And we're also in a situation where we found ourselves unable to deal with a lot of just basic issues. I won't go into it, interest of time. And so we went to work, and we got it done. And, you know, one of the things that, well, I'm talking to all.

And, Alyssa, you know, one of the things I think is that the people who wrote those books were not in the White House with us. And they didn't see how hard Joe worked every single day. I mean, he'd get up, he put in a full day, and then at night he would be. I'd be in bed, you know, reading my book, and he was still on the phone, reading his briefings, working with staff. I mean, it was nonstop. It's the White House being president is not like a job. It's a lifestyle. It's a life that you live. You live it 24 hours a day. That phone can ring at 11 o'clock at night or 2 in the morning. It's constant. You never leave it. And Joe worked really hard. I think. He was a great president.

And if you look at things today, if you look at things today, give me Joe Biden anytime. That's worth the invitation to come to the show. Hmm. It was kind of a disaster. I mean, like, I can't imagine if we had had four years of that. Can you imagine four years, four more years?

I mean, I don't think he would have made it. would have wanted to put Kamala. Maybe that was the goal, right? Kamala, as the president of the United States, he did talk about her and the reasons why she lost. Let's listen in. But then election night came, and it was like 2016 all over again. So why do you think the vice president lost and were you surprised? I wasn't surprised, not because I didn't think the vice president most qualified person to be president. She is. She's qualified to be president of the United States America. But I was surprised. I wasn't surprised because they went the root of the sexist route, the whole route.

I mean, this is a woman, she's this, she's that. I mean, really, I've never seen quite as successful and a consistent campaign undercutting the notion that a woman couldn't lead the country and a woman of mixed race. Yeah. And they played that to a fairly well. In addition to that, one of the things happened. if you notice, and I'm going to be shorter, okay? I promise. She said, don't be Joe Biden, be short.

I said that to him. Anyway, make a long story short, all kidding aside. Think about it. Liberal democracies all across America, all across the world, lost that time. Yeah. All across America. I think we underestimate the phenomenal negative impact that COVID had and the pandemic on people, on attitudes, on optimism,

on a whole range of things. So I was very disappointed, but I wasn't surprised. The only surprise me is the excess to which they've gone in some of the attacks they've made. Yeah. Well, when was the last time you spoke with the vice president, and has she talked to you about what she wants to do next, sought any advice, maybe governor?

Yesterday, I talked to her frequently. We stay in touch, number one. Number two, she's sought my opinion. I'm not going to tell you what it is. What to wear to the Met Gala. That's exactly right. No, but all kidding aside, she's got a difficult decision to make about what she's going to do. I hope she stays fully engaged.

I think she's first-rate. But we have a lot of really good candidates as well. So I'm optimistic. I'm not pessimistic about it. Oh, please. You hate her. You hate her. And Jill hates her even more.

I mean, for goodness sakes Jill dressed up in a giant red pants suit when it came time to vote. You didn't want Kamala Harris to when you thought that you could have won. And you know what, Joe, I'm going to give it to you. You might have been able to have at least a better showing than Kamala Harris. Because Kamala Harris is everything that this country doesn't want because she's stupid. She was the one who went on that same show. And they asked her, hey, would you change anything? if you could change something.

And she's like, no, no. The borders are, no. Massive inflation. No. She had nothing, okay? She could not come up with a single thing that she would change. I mean, she was never, ever going to be able to win. What should have happened, I'm sorry, is that they should have exited Biden.

Stage left. Stage left. left that he is a long time ago. And they should have had a fair open primary and actually found somebody that could come in and inject new blood and new energy, but it was never going to be Kamala Harris. You know what? And it's never going to be Kamala Harris. She's game over. They can sit there all they want going on about AOC too on Morning Joe. I'll take her any day because, you know what, we win when they put up the AOCs of the world and the Kamala Harris's of the world. We win that all day long. But I digress. There's an FCC warning going on.

at Disney. And you know what? That show is going to be, in my expectation, one of the casualties. They cannot afford to have a show like that with the FCC breathing down their back. No. And they can have all these, you know, DEI mandates where you have this many people on the graphics design department and this many people in the lighting department. Oh, we need to have a black little mermaid because we need a black little mermaid. I mean, Forget about it. And I say this, by the way, is somebody who comes from the arts

who studied opera. And in opera, it never mattered. It was like, you know, as long as you could sing, that's kind of, I mean, hey, look, they suspend them disbelief like all the time. When you have a 300-pound woman dying of consumption on stage, I mean, clearly it's about the voice, right? So, look, you know, you have all kinds of minorities

he's playing white women in the 1800s, nobody bats an eyelash. Like, that's not a big deal because, you know, it's the music that matters. And that's meritocracy for you. Okay, that's meritocracy. Wait things aside, that is a full-on meritocracy. Why can't we do that in the rest of the world? Why do we have to say, okay, well, we want this many blacks and this many Asians and this many trans and this many gays and this many, but, blah, blah, bib, blah.

No, I'm sorry. You want black violinists in the New York Philharmonic, go out and teach the violin and get the community up in Harlem really interested in the violin when their kids are little. You don't correct for things after the fact because then the whole orchestra suffers, the movie, in the case of Disney suffers, the show suffers, society suffers, and thus our economy suffers. I mean, this applies to everything, military included, right? Pete Hegseth got a big win this week when the Supreme Court decided that they would uphold the temporary ban. It's like a temporary thing on transgender's being in the military. Just amazing, amazing, amazing. Wow, we got a deal, baby.

I love it. Huge trade deal with the UK, our longtime partner. This is fabulous, fabulous, fabulous news. I want to go to Donald Trump announcing this. He said something big was coming. Remember we told you maybe this was in, although he did say it. may not be trade related. There may be more good things coming our way.

This is great news. We get the market on fire. Watch. I just want to begin by saying that there's a very special day because it's victory day, World War II, May 8th. And just by happenstance, we have the prime minister on the phone, and we were great allies in that. And it's very unusual that the trade deal comes due, and we signed it up on the same day that

we had a great victory, the greatest victory of them all. So we are talking more and more about Victory Day because we were a big part of it, and so was the UK. And it's just, I guess, I don't know what you call it. It's just incredible that that day is the same day that we signed a tremendous trade deal for both countries. So I'm going to begin by just adding that we just concluded the rare earth deal with Ukraine.

That's been fully ratified and approved by their legislative branches. And so we appreciate that. And I'll be speaking with the president in a little while, a little bit later. And we appreciate that. But the deal is all now signed up and ratified. And we have access to a massive amount of very, very high-quality, rare earth. Gosh, this makes me happy. It really does.

You know, the left is not going to like this. They'll always find something to pick on. But basically under this deal, the 10% tariff, the U.S. imposed against U.K. goods will remain. Though some of the products will be exempted, you'll have auto tariffs, for example, against U.K. cars up to a certain number that will be lowered to 10% from 25%. The U.K. has also committed, I should point out, and I'm quoting the Wall Street Journal here, to import more U.S. goods, including Boeing planes. So that's good news. Markets love it. The markets love it, guys.

Did you see this? We are up, what, 2% on the NASDAQ? I told you to buy triple Q's. I was actually buying more triple Q's all this week. Up 2% on the NASDAQ. We've got an S&P 500 that's up 1.55%. Dow Jones Industrial Average up 1.6%. Let me see if I can take a look at Bitcoin. I'm sorry, Don, I know you don't like this, but I got to say, I love it. I've always loved it. Back when it was 10 bucks, I loved it. Actually, I remember having dinner with Carl Eichon and his son. And Carl was a philosophy major at Princeton, and I knew he'd love this. And I was explaining the whole thing to him. And he looked at me like I had three heads. But it is fascinating stuff, and it is taking off.

We are really seeing a lot of upside in Bitcoin, which touched 99,000. So good news all around. And I'm telling you, it's going to keep coming. Here's the British ambassador. He's pretty darn happy, too. Listen. We're looking forward to doing that in the coming months. You've launched us extremely well.

today it just in my view as the prime minister has said just shows what two countries who trust each other who are confident in each other and are familiar with each other can do not just for ourselves but for those the rest of the world who need to benefit from a bigger and better international trading system. It was beautifully stated what a beautiful accent. I'd like to have that accent thank you. My mother would be proud. It's great, and kind of, you know, makes it a little more accessible for everyone there at the end with the accent comment. But listen, Trump is the optimist.

He is the glass half full, and it is so important to him. I can tell you this. I've known him a long time, that we are a success as a nation. So we're going to get these trade deals. I'm hearing through sources. There are many more in the works. You know that Scott Besson is going over to meet with his Chinese counterparts in Switzerland. That's going to be a biggie.

Let's listen in to Donald Trump. on his optimism for what's ahead. It's the biggest bill of its kind ever in the history of this country. And Speaker Johnson and Leader Thune, I've done an incredible job. I mean, I'll let you know we have to get a vote, but we have a lot of support for that bill. And if that happens on top of all of these trade deals that we're doing, this country will hit a point that you better go out and buy stock now.

Let me tell you. This country will be like a rocket chip that goes straight up. This is going to be numbers that nobody's ever seen before. That's a very important element of all of this. You know, if we get that, if you don't. And the Democrats are fighting it only because they want to fight. They have Trump derangement syndrome, you know. If there was somebody else, they wouldn't fight.

If you had a normal person, they had some stiff sitting behind you, they'd be fine. But they have Trump derangement syndrome. You know, Senator Schumer has become a Palestinian. Welcome. I don't know when they're going to give him the ceremony, whatever the ceremony may be. It's terrible what's happened to the Democrats. So very, very important element of everything, of what we're doing. Did you see that? He just said, buy stocks. Trump said, buy stocks.

I keep saying, do not bet against this guy. It is so important to him to have the right policies in place, and he's getting there. And you know what? He's going to do some things along the way. that kind of rock the boat, right, putting in the tariffs. And I'll admit, even I was concerned, in part because Peter Navarro was getting a little wild and was talking about tariffs that I think would have been excessive.

But sometimes, you know, in the art of the deal, you kind of need to go out on the limb, and maybe you put your crazy stuff first, and then you walk it back and you get a deal and a deal that makes sense. If you start at 10%, how the heck are you going to get 10%? Donald Trump knows how to do this, and there's going to be a lot of good stuff. And I am a full, full believer in this AI revolution.

I want you to be part of it, because the reality is, yeah, a lot of jobs will be taken. Okay, it's happening. It's why we need high-tech manufacturing jobs back here in the U.S., but things are changing, so you want to be an investor in all of it. Let us help you. Go to 76research.com. Use my code word dollar.

It is my company. We will not steer you wrong. I promise you, we will not steer you wrong. We have a lot of ideas there, including, you know, things in the AI space, in the crypto space, ideas in commodities, for example, Bitcoin as well as, I don't know what I'd call Bitcoin a commodity, but certainly gold, lots of ideas. So let us help you there. You can look at just the portfolios, which have killed it, the model portfolios at 76 portfolios.com. Guys, we get some breaking news on the Pope. Don reminding me, I could not let this one go, right? No, the smoke is coming out.

The white smoke, you know, that's what you need. The white smoke. coming out of the chimney. Here we go. Let me see if I can show you. This just did. We have white smoke coming out of the Sistine Chapel. This means that we have a new Pope. It is the third vote that's been taken. This is quite frequent timing. This is day two of the new Pope. We've been waiting for this vote. White Smoke. Any moment. We'll see if this Pope comes from the conservative wing of the party, the progressive wing, or is one of those consensus candidates. We know that. that the Pope has three outfits, one of each size. So he will have something that he fits in.

In about 40 minutes for now, we will hear those words ring out that a new Pope has been chosen, and we will see who that Pope is come out live on the balcony. Harris, we've been waiting for this moment. You've been covering it for the last two days. So I want to talk a little bit about what comes next. So it takes them about 40 minutes before they will let us know, sometimes a little bit longer than that. Okay, so we get 40 minutes, guys. Should I pop back on with you? Do you guys care about the Pope? I think it's kind of interesting. You know, I was born Catholic. My grandmother lived for this. She would love this. I remember Pope John Paul. She loved him. We knew everything about Pope John Paul. It's not going to be the Cardinal from New York. We know that.

We know that. Remember when Donald Trump said that the other day and everybody freaked out? And he's like, come on guys, do you not have any sense of humor, any sense of humor at all? This was great. Times greater, I believe, but far greater than the numbers that you're putting out. It's a very, very deadly, horrible war. Okay? Yes, ma'am. Thank you, Mr. President.

Some Catholics were not so happy about the image of you looking like the Pope. Oh, I see. You mean they can't take a joke. You don't mean the Catholics. You mean the fake news media. The Catholics loved it. I had nothing to do with it. somebody made up a picture of me dressed like the Pope, and they put it out on the internet.

That's not me that did it. I have no idea where it came from. Maybe it was AI, but I know nothing about it. I just saw it last evening. Actually, my wife thought it was cute. She said, isn't that nice? My question about it. Actually, I would not be able to be married, though. That would be a lot. To the best of my knowledge, popes aren't big on getting married, are they? Not that we know of No, no. I think it's a fake news media that, you know, they're fakers. My question, though, sir, was about the fact that it was put out on the White House account, even though it was AI generated, it was a joke, it was a meme.

Does it at all diminish the substance of the official White House account to have it go out on that particular channel? Give you a break. It was just, somebody did it in fun. It's fine. Have to have a little fun, don't you? You do have to have a little bit of fun. Forgive me, I was trying to, there we go. You know, I don't think he knew all the Pope candidates.

I can't blame him. Like, we don't all know that unless you're kind of really, really, my grandmother would know him all. I personally not so much. I did at one point. I remember before they picked the Argentine guy, they had somebody else before. And there was speculation that they might get the Argentine guy back then,

or speculation there was a court in a lot of Brazil that they were looking at. And I was down in Brazil on another story, actually for CBS News at the time. And I remember that faithful day, we got the white smoke coming out. I had 40 minutes to get to my live shot location, which was on top of the building in a place in Riozegener. So I remember at some point trying to get everybody to go live. and I don't speak Portuguese, but I am fluent in Spanish. And nobody was moving.

It's all union down there, by the way, and they're very polite, but nobody was moving. And I'm like, hey, we're live. We're like live on network news at whatever time. Can we please get everything going? And these 12 people are looking at me, and they're like, huh? And finally, I just, I whipped into Spanish. I was like, Necessitamos, Oota.

Full on Spanish, and somehow we all communicated just fine. They could speak Portuguese, I could speak Spanish, and it was not the Cardinal from Brazil, but we went on live on CBS News to talk about it at the time. It was a very big day. And again, my grandmother would be so excited and so into this. I think, you know, we'll see who comes forward. I do believe that the Argentine was extremely socialist, progressive in some ways, and that, you know, maybe he was trying to change the church in ways that, frankly,

I just don't think it can really change. I have a lot of thoughts on this. And at the time when I was reporting in Brazil, one of the stories I was actually doing was on this transition that you had seen away from Catholicism because so many Catholics had ditched their religion for evangelicalism.

Because you know what? Evangelicals, they have fun. Man, did they have fun? The church is awesome. When I was a little girl, we had some next door neighbors that were Baptist and we were Catholics, right? And so I'd go to Mass and like half the time is in Latin, I'd be like, oh, my God, bored out of my mind.

Your mind would just wander. I mean, I'd be looking at the priest's pretty purple robes and thinking, you know, I like that. It'd be fun. Maybe I should be up there doing the sermon instead of sitting here. They told me I couldn't, you know, because I was a girl and everything. Anyway, anyway, I went with my friends, their Baptist church. Oh, my gosh, we got to sing. We got to make all these art projects.

I got pipe cleaners, which I loved in all different colors and got to make all these things. I was in it. It was a great little camp. So when my girls were young, the twin girls, they were up with their grandparents and the same next door neighbors lived there. And they said, hey, do you want to go to the Baptist camp? And my kids, you know, were like, sure, it was something to do. They were really little. They loved it.

They came back with a CD. We were still using CDs back then with all these great Christian songs. They were like rocking out to the songs. They loved the art projects. I'm like, this is how it should be. We just need to make it fun, okay? The Thalysis is not always so fun. I'm just saying, you know, religion should be something that you want to do and you enjoy. That's my little two cents on it. Maybe I will come back and we can talk about the Pope as the Pope is named. Again, that will be coming very, very soon. I want to run off to do an interview with the Gold CEO.

We're going to air that tomorrow because Gold's been on a tear and I have a few questions to ask him. But you may see me later on in the afternoon. Make sure that you see you see. Subscribe, share, like, all that good stuff. Don't forget. Don't forget 76 research, amazing, amazing stuff going on over there. Hopefully we can help you out. Don't forget what Donald Trump said. Buy stocks.

I'll see you soon.