The Biden Cover-Up
Democrats and the media are blaming each other for the biggest cover-up in political history, and now they'll both have to pay the price.
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Jeffrey Petz
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The Intercept
26 minutes ago
- The Intercept
War Powers Resolution From House Democratic Leaders May Not Limit Trump's War Powers
As Democrats try to push forward legislation that would block further strikes on Iran, one measure advanced by House leadership could actually strengthen the Trump administration's justification for subsequent attacks, anti-war advocates warn. House progressives on Wednesday were trying to reach a compromise with Democratic leaders that would curb further U.S. military involvement in Iran while satisfying concerns from pro-Israel members about American support for Israel's missile defense. There are three different war powers resolutions in play in Washington. In the Senate, a resolution from Tim Kaine, D-Va., appears to be on track for a vote on Friday. In the House, however, Democrats remain sharply divided between two resolutions. 'There's no upside to advancing a competing War Powers Resolution. It's not just unnecessary — it's actively counterproductive,' Cavan Kharrazian, a senior policy adviser at Demand Progress, said in a statement. 'There's still time to reconcile this on the House side, and we hope an agreement can be reached to enable a strong vote with the best possible language.' The resolutions in both chambers face long odds, thanks to near-unanimous support from the majority Republicans for President Donald Trump's strikes. Congressional Democrats are responding to Trump's strikes by pursuing a vote under the War Powers Act, the Vietnam War-era law designed to limit presidents' ability to launch military action abroad without congressional approval. Kaine's initial resolution introduced last week directs Trump to halt hostilities against Iran, while making clear that the president can still defend the U.S. from imminent attack. Kaine's resolution has drawn support from Senate Minority Leader Chuck Schumer, D-N.Y. It is expected to come to a voter later this week. Amid concerns from pro-Israel Democrats, Kaine said Tuesday that he was co-sponsoring an amendment to his resolution with Sens. Adam Schiff, D-Calif., and Andy Kim, D-N.J. The amendment is intended to continue to allow the U.S. to participate in Israeli missile defense. Pentagon officials said last April that the U.S. — not Israel — shot down most Iranian drones and missiles during an Iranian attack. 'This amendment would leave no doubt that Senator Kaine's resolution would ensure that President Trump has to make the case to the American people for further action against Iran without constraining our ability to help defend the Israeli people from Iranian attacks,' Kim said in a statement. While most Senate Democrats appeared to have coalesced around Kaine's resolution, House Democrats remained split on Wednesday over how to respond to Trump's strikes. Advocates last week said they were frustrated that Democratic leaders were not moving forward with a resolution as Trump publicly mulled attacking Iran. Rep. Ro Khanna, D-Calif., teamed up with Rep. Thomas Massie, R-Ky., to introduce a resolution. After the strikes were launched, three House Democratic committee ranking members introduced an alternative resolution that its authors claim would also force Trump to cease hostilities with Iran. The sponsors are Reps. Jim Himes of Connecticut, Adam Smith of Washington, and Gregory Meeks of New York. Anti-war advocates worry that the House leadership measure could actually wind up strengthening Trump's justification for launching further strikes on Iran. In an apparent nod to Israel, the leaders' resolution would give the president the power to 'defend the United States or an ally or partner of the United States from imminent attack.' Trump has already justified his strike on Iran as an act of 'collective self-defense of our ally, Israel,' according to a letter he sent Congress, despite the assessment of U.S intelligence agencies that Iran was not building a nuclear weapon. Critics say the House Democratic leadership resolution mirrors the language of Trump's justification far too closely. 'We think if it passes, it would be worse than not having a war powers resolution.' 'We think if it passes, it would be worse than not having a war powers resolution,' said Yasmine Taeb, the legislative and political director for the Muslim advocacy group MPower Change. 'This war powers resolution gives the impression that the president has broad authority to be able to engage in military offensive action with respect to Iran — if Israel is asking us to.' Spokespersons for Himes, Meeks, and Smith's offices did not immediately comment. Khanna has said that his resolution is intended to preserve the U.S. military's ability to participate in Israeli missile defense. Advocates said they understood there were ongoing discussions about a compromise. The two sides have ample time: A vote on the measure is not expected to come to the floor before mid- to late-July. Whether or not the two sides come to an accord, however, the push to respond to Trump's strikes could face serious pushback from Republican House Speaker Mike Johnson. Johnson said Tuesday that he thought the War Powers Act itself was unconstitutional and signaled that he may use a procedural move to prevent it from coming to the floor. The War Powers Act states that resolutions brought under its auspices must be fast-tracked to the House floor within 15 working days. Johnson, however, could try to block the resolution from receiving such a 'privileged' status — although that would likely force a vote on the procedural maneuver itself. Massie's co-sponsorship of the resolution gave it bipartisan support, but it's unclear whether he will continue to push its passage in the face of intense pressure from the White House and the ceasefire announced by Trump on Monday. Massie has said he is taking a 'wait and see' approach. As a shaky ceasefire between Israel and Iran continued to hold Wednesday morning, progressives in the House said they were pursuing a vote on their preferred resolution despite the opposition from Johnson. Khanna said at a Capitol press conference that blocking the vote with a procedural maneuver would be an 'unprecedented abrogation of congressional power.' 'The fundamental point here is that we don't know what the strikes accomplished, but we do know a lot of the harm,' Khanna said. 'It has hardened the resolve in Iran to now race towards a nuclear weapon.'
Forbes
32 minutes ago
- Forbes
Trump Media Board Member Who Led SPAC Deal Sells 90% Of His Shares
Eric Swider, one of seven board members at Trump Media & Technology Group (NASDAQ: DJT) and a leader in the deal to take Truth Social public, has sold around 90% of his company stock—netting around $4.4 million before taxes—since November, according to filings with the Securities and Exchange Commission. Truth Social is seen on a mobile device with an image of President Donald Trump in the background in ... More Warsaw, Poland in February 2022. (Photo by STR/NurPhoto via Getty Images) NurPhoto via Getty Images Swider became CEO of the blank-check firm Digital World Acquisition Corp.—the SPAC that merged with Truth Social parent company Trump Media—in March 2023. After the merger was finalized in March 2024, former Congressman Devin Nunes, R-Calif., became CEO and Swider remained on the board. Swider received 153,000 shares when the merger closed, and another 26,000 in January 2025 through an incentive plan. In November 2024, Swider sold about 136,000 shares at $28.23 apiece, netting roughly $3.8 million. Since March 2025, Swider has made four additional sales—most recently 8,500 shares earlier in June—reducing his holdings to 17,500 shares. Swider and Trump Media did not respond to requests for comment. It's unclear why Swider has sold about 90% of his holdings, and he does not appear to have commented on the transactions. Contra No other Trump Media insiders have sold comparable amounts, according to SEC filings. President Donald Trump, whose 114.8 million shares are held in a revocable trust where he is the sole beneficiary and donor, has not reported any sales. Others, including Nunes, have only sold shares to cover tax withholdings, not directly receiving any cash proceeds. Big Number $4.8 million. That's how much Swider has made so far from Trump Media—counting stock sale proceeds, the current value of his remaining shares and a $45,000 cash retainer. Key Background Swider joined Digital World's board in 2021 and became CEO in 2023, as the SPAC pursued a drawn-out merger with Trump Media that took 29 months to complete. During that time, a former Digital World board member was convicted of insider trading, the company admitted to two years of unreliable financials and it paid $18 million in penalties to the SEC for failing to disclose early Trump Media talks. After the merger finalized in March 2024, turmoil continued: Trump Media's cofounders sued over allegedly diluted stakes, prompting a countersuit. The company also replaced its auditor after the SEC accused its accounting firm, BF Borgers, of 'massive fraud' involving more than 250 clients (Borgers agreed to pay a $12 million fine and an industry ban). Swider's term on Trump Media's board is set to expire in 2027. In a 2024 filing, Trump Media disclosed Swider failed to report a change in his stock holdings to the SEC within the required timeframe. What To Watch For In March, Swider and Nunes launched a new blank-check firm, Renatus Tactical Acquisition Corp I, targeting acquisitions in cryptocurrency, cybersecurity and dual-use tech—sectors with significant regulatory and government involvement, in which the Trump administration has major influence. Swider holds 50,000 shares directly and controls another 5 million through an LLC. Surprising Fact Trump Media warned in May that 'material misstatements' may have appeared in its financial filings, citing weak internal controls and a lack of SEC reporting expertise—though a company spokesperson told Forbes the filing was 'a routine disclosure that TMTG has repeatedly made in the past, and is typical for former shell companies, that does not in any way indicate an intention to restate any of TMTG's financial reporting.' News Peg Trump Media is in the midst of reshaping its finances, raising $2.3 billion from institutional investors in May to fund bitcoin purchases, registering a crypto ETF with the SEC and announcing plans Monday to buy back up to $400 million in shares. Forbes estimates Donald Trump's net worth at $5.2 billion, with $2.1 billion tied to his 114.8 million shares in Trump Media, as of the market close on Tuesday. Most of his fortune is now tied to crypto holdings. Editor's Note In November 2023, Trump Media sued 20 media outlets, including Forbes, for reporting that included calculations of its financial results while still a private company. The defendants have moved to dismiss the claims but the case is currently ongoing. Further Reading The 3 Easy New Ways Anyone Can Funnel Money Directly To Donald Trump's Businesses (Forbes) CEO Devin Nunes Made $47 Million While Truth Social Parent Company Reported $401 Million In Losses In 2024 (Forbes) Trump Media Shares Rise After Planning Fintech Brand—Trump's Net Worth Spikes Over $200 Million (Forbes) Truth Social Hosted Party At Trump's Mar-A-Lago (Forbes) Trump-Linked SPAC Spent $10.8 Million On Legal Fees Amid Regulatory Probes (Forbes) When It Comes To Truth Social, Republicans In Congress Aren't Buying What Trump's Selling (Forbes)
Bloomberg
39 minutes ago
- Bloomberg
Trump Says He Thinks Middle East War is 'Over'
President Donald Trump said the US would hold a meeting with Iran next week, but cast doubt on the need for a diplomatic agreement. Trump claimed that US bombing had "obliterated" Iran's key nuclear sites, including Natanz, Isfahan, and Fordow facilities, and that the country's nuclear materials were buried under "granite, concrete and steel". The US and Iran are set to resume talks, with Trump citing Iran's foreign ministry assessment that its nuclear installations were "badly damaged" by US airstrikes. Bloomberg's Ethan Bronner reports. (Source: Bloomberg)
