This year, overall super PAC spending in the mayoral race has hit more than $24 million, according to the New York City Campaign Finance Board.
PACs representing Walmart, State Farm agents, McDonald's franchisees, and AT&T donated to the sponsors of the most severe anti-LGBTQ laws in the US.
The conservative marketing firm Rally Forge posed as a leftist organization called American Progress Now as part of the scheme, The Guardian reported.
Congress had already been probing whether DeJoy's old company, New Breed Logistics, required employees to donate to GOP candidates.
A spike in threats after the January 6 insurrection led to soaring security costs for lawmakers, per a Punchbowl News analysis of campaign finance records.
Ted Cruz used campaign funds to run adverts urging viewers to buy his book, the Campaign Legal Center watchdog has alleged.
Tech giants gave around $3.2 million in 2020 to lawmakers and regulators who look into privacy and antitrust issues, according to a report.
H.R. 1, which recently passed the House, would overhaul campaign finance rules, set stricter rules for lobbyists, and broaden access to voting.
Federal law allowed Both the Trump and Biden campaigns to hide where their ad spending went. Either Congress or the FEC needs to close the loophole.
The bill, known as the For the People Act, would make sweeping election reform and strengthen regulations on both lobbying and money in politics.
But for less than two years and while putting distance between staff donors and Microsoft itself Microsoft used the take-out-the-trash time of Friday evening to announce its political action committee (PAC) has suspended donations to US politicians who voted to object to the certification of electors in the 2020 US presidential election, or who “supported such objections or suggested the election should be overturned.”…
Campaign finance rules prohibit politicians like Hawley from using campaign funds to cover personal spending.
Comcast, AT&T, and Verizon suspend donations but could restart them later.
Real estate mogul Charles Kushner's criminal record of tax evasion, witness tampering, and illegal campaign contributions was wiped clean.
The Green Party's 2016 presidential candidate owes the Federal Election Commission tens of thousands of dollars, but her campaign's out of money.
Michael Cohen, the former longtime fixer and personal attorney to Donald Trump, says he believes his old boss has a backup plan to save himself from criminal prosecution if he loses the November election to former Vice President Joe Biden. The drama, he said, would take place in the 11 weeks between Election Day and the January 20 inauguration. “My suspicion is that he will resign as president,” he told MSNBC’s Rachel Maddow on Tuesday night. “He will allow Mike Pence to take over, and he will then go ahead and have Mike Pence pardon him.” Michael Cohen says Trump will go to great lengths to avoid criminal charges: "If he loses ... he will resign as president, he will allow Mike Pence to take over, and he will then go ahead and have Mike Pence pardon him." #ctl#p2#maddowpic.twitter.com/e5ReWb4bEs— PoliticusUSA (@politicususa) September 9, 2020Trump has freely used his pardon power to help political allies, granting a commutation to Roger Stone, a pardon to disgraced former Sheriff Joe Arpaio and a pardon to former New York Police Commissioner Bernie Kerik, who has been a Trump supporter on Fox News.The president has also claimed he can pardon himself, which no president has done and would likely go to the Supreme Court, making a pardon from an elevated Vice President Pence a more assured route of success. Cohen turned against his former boss in 2018 when he cooperated with investigators, testified before Congress and pleaded guilty to numerous criminal charges, including lying to Congress and violating campaign finance law, which he says he did for Trump. He was sentenced to three years in prison, which he is now serving at home after being released due to the coronavirus pandemic. He is promoting his new anti-Trump memoir, “Disloyal: The True Story of the Former Personal Attorney to President Donald J. Trump.” Related...
Far-Right Norwegian Politician Nominates Trump For Nobel Peace Prize – Again
Trump Slammed After Firing Off Outrageous New Insults At Kamala Harris
Donald Trump Won't Like What Joe Biden Said About His Physical Fitness
Hello, everyone! Welcome to the new edition of Insider Today. Please sign up here.
QUOTE OF THE DAY
"The CEOs don't want to be testifying. Even having this collective hearing creates a sense of quasi-guilt just because of who else has gotten called in like this — Big Pharma, Big Tobacco, Big Banks. That's not a crowd they want to be associated with." — Paul Gallant, a tech policy analyst, on Wednesday's Big Tech antitrust House hearing.
The Big Four tech CEOs will testify Wednesday before the House antitrust subcommittee. In the most anticipated antitrust hearings in decades, Apple, Amazon, Facebook, and Google bosses will be interrogated about a variety of market-dominating practices.
AG Bill Barr is testifying before the House Judiciary Committee. Democrats are challenging him on his intervention in the Stone and Flynn cases, the Lafayette Square assault, and the Portland protests, among other matters. Barr is unapologetic and accused Democrats of trying to discredit him.
The Trump campaign has "masked" $170 million in campaign spending, alleges campaign finance watchdog. The nonpartisan Campaign Legal Center filed a complaint with the FEC that that campaign "disguised" spending by funneling it through organizations controlled by people involved in the campaign, such as Brad Parscale. The FEC has no quorum and so can't enforce campaign finance laws.
The Trump administration dispatched another 100 federal agents to Portland. They join the 114 feds already there. Nightly protests have grown since the feds stepped up their presence two weeks ago.
VIEWS OF THE DAY
Big Tech has no friends in Washington
On Wednesday the CEOs of the four biggest tech companies — Amazon, Facebook, Google and Apple — will testify before a House subcommittee via Zoom. They will have no friends.
Over the last few years both Republicans and Democrats have begun to look at Silicon Valley with a great deal of skepticism, and there are now pro-antitrust factions on both sides of the aisle. This hearing will be conducted by the House Judiciary subcommittee on antitrust, which is helmed by Democratic Rep. David Cicilline with GOP Rep. Doug Collins serving as Ranking Member. Both of these gentlemen have a history of supporting antitrust legislation that goes back to before the Trump administration started. Expect the politicians on this subcommittee to know their stuff in a way we have not seen in previous hearings.
It's also become clear that politicians on both sides of the aisle think they can score political points with their base by beating up on these executives. On Monday, GOP Rep. Matt Gaetz of Florida — who is more known for partisan stunts than any productive legislation — filed a criminal referral to the Department of Justice for Facebook CEO Mark Zuckerberg. Gaetz accused Zuckerberg of lying to Congress in 2018 when Zuckerberg denied that there was any bias against conservative speech on Facebook.
Facebook's own internal reports actually show a bias toward conservative content, and the top 10 most shared posts on the platform every day are consistently from conservative outlets. But it's clear Gaetz thinks his base will appreciate this spectacle.
A few things to know going in:
Americans are forming fewer small businesses than they ever have in decades.
In this hearing Facebook is going to try to argue that we need it to counter similar platforms coming out of China. I don't expect anyone on this subcommittee to buy that argument, especially not when it comes to breaking up Instagram, Facebook, and Whatsapp.
Expect Jeff Bezos to get beat up over the fact that Amazon pays so little tax. In 2019 Amazon paid about $162 million in federal tax while rival Wal-Mart paid $3 billion.
Apple will likely get knocked for "rent seeking," as gatekeeper to the app market. Spotify has been arguing that Apple Music has an unfair advantage because it doesn't have to pay Apple to be in the App Store. It'll also get knocked for undercutting rivals with Apple TV+.
Google will, of course, be called to answer for its dominance over search and the hellscape that is YouTube. —LL
Yes, but "Big Tech" has a point: It's a global market. If we hobble US companies, we'll open the door even wider for China, et al.
Many Americans are frustrated with the power and influence of tech-powered American companies like Facebook, Google, Apple, and Amazon. The answer, many people say, is to break the companies up.
At the same time, many Americans worry that heavily regulated American companies are losing ground to companies based in other countries that aren't subject to the same rules.
Well, we can't have it both ways.
We live in a global economy, with global companies. If we want US companies to be competitive with global companies, we need to remember that US regulators don't set the rules for the whole world. — HB
More local COVID deaths mean less support for Trump
President Trump was "bored" by the pandemic, until he realized it was hitting "our people." Here's why he better keep paying attention to Covid.
In a remarkable display of data wizardry, the New York Times merges disparate information about COVID and polls to show that higher local death rates are associated with a drop in support for Trump and other Republican candidates.
The drop isn't huge: A doubled death rate causes Republicans to lose one-third of a point. But it's real: That decline is not occurring in states such as Wyoming that have so far ducked Covid. The Times likens this Covid shadow to historical polls showing that combat deaths grind down politicians' popular support.
If this effect continues through Election Day, it could make a genuine difference in presidential swing states and tight Senate races, given that the virus is ravaging Arizona, Florida, Texas, and Georgia.
More than anything, this data might cause President Trump to keep paying attention to the pandemic. Even if he cares little about Americans in swing states dying, he cares a lot about Americans in swing states voting. — DP
Yes, this Georgia Senate ad was anti-Semitic
GOP Sen. David Perdue of Georgia has yanked down a Facebook ad he was running against Democratic challenger Jon Ossoff. The ad showed a photo of Ossoff in which his nose — and only his nose — was digitally lengthened and widened, along with a message that Democrats were trying "to buy" Georgia. The ad also included an image of Sen. Chuck Schumer, who, like Ossoff, is a Jewish Democrat.
Perdue's campaign deleted the ad, feebly claiming that an "unintentional error" by a contractor had distorted the photo, and that Perdue had never seen it.
But this is textbook anti-Semitism, Jews trying to use their money to deceive the good people of Georgia. It's not even a dog whistle. It's a whistle. — DP
Disney is strange during COVID Times
The parks are largely empty, public health warnings klaxon every few minutes, the costumed characters keep their distance, you never have to wait in line, Graeme Wood writes in the Atlantic.
"The experience of Disney World under these circumstances is one of unsettling solitude….What is an amusement park in which visible smiles are forbidden, and laughter and screams of delight are muffled to the point of inaudibility?"
Working there is not so hotsy-totsy either. An anonymous Epcot employee describes their job now as an experience of cognitive dissonance — trying to maintain the trademark Disney good cheer while being deadly serious about masks and distancing. — DP
Is it just me, or does $250 billion seem cheap for some peace of mind?
Republicans have released their proposal to Democrats for the next coronavirus aid bill. It includes reducing the federal boost to unemployment checks from $600 a week to $200 a week. Then in October states would start reimbursing 70% of pre-pandemic wages.
Analysts at Raymond James estimate this plan will cost $100 billion. Keeping the $600 a week payments til the end of the year would cost $250 billion more.
Maybe I've become desensitized to eye-popping numbers. Maybe I just remember that the Federal Reserve spent $500 billion buying corporate bonds a few months ago and no one batted an eye, so what's $250 billion to keep people in their homes during a pandemic?
After all, the sooner the government gets the pandemic under control, the sooner people can get to work. Until that happens, Republicans are trying to push people to go back to jobs that don't exist. The people who should really be pressured into going to work right now are in Washington. — LL
BUSINESS & ECONOMY
Ed Yardeni: Stock investors could be "delusional" if prices continue to rise faster than earnings forecasts. He also said the V-shaped recovery of May and June looks like it's stalling.
The top 5 cities for young professionals in 2020. Based on job opportunities, number of millennial residents, and access to affordable housing, Cambridge, Mass. is tops, but both DC and Arlington, Virginia make the list.
Jaw-dropping images of Simone Biles, the most dominant athlete on the planet. In a regular time, she'd be crushing it at the Tokyo Olympics this week.
There are 16 EGOT winners, and one double winner. Here they all are.
THE BIG 3*
Hundreds of teenagers wrecked a mini-golf facility in Memphis. The Putt-Putt Fun Center closed because of overcrowding. Furious that they didn't get refunds, the kids vandalized it.
Twitter limited Donald Trump Jr.'s account and deleted a tweet. He had shared COVID misinformation about hydroxychloroquine from controversial Houston doctor.
How to take a screenshot on Windows 10 computers. There are several different ways.
*The most popular stories on Insider today.
Join the conversation about this story » NOW WATCH: Why thoroughbred horse semen is the world's most expensive liquid
Hello everyone! Welcome to this weekly roundup of Business Insider stories from executive editor Matt Turner. Please subscribe to Business Insider here to get this newsletter in your inbox every Sunday.
One-click checkout startup Fast raised $20 million from investors including Index Ventures and fintech Stripe in May. On Tuesday Fast's cofounder and CEO Domm Holland, and Jan Hammer, general partner at Index Ventures, will chat with Shannen Balogh about how to build a pitch deck, and what it takes to win over investors. Sign up for the digital event here:
SIGN UP NOW: On Tuesday we're talking to Fast CEO Domm Holland about how he crafted the perfect pitch to raise $20 million from top investors
You can now get the top healthcare stories delivered daily to your inbox. Sign up here.
Starting this week, you can get the top stories in advertising and media delivered daily to your inbox. Sign up here.
Read on for more on Jeffrey Epstein's little black book, Gen Z day traders, an energy CEO who may face charges for pulling a gun, and the top stories you might have missed.
Jeffrey Epstein's little black book
There are more than 1,500 people listed in Jeffrey Epstein's infamous little black book, Angela Wang reported this week. Now you can search them all. From her story:
Among them are royalty and nobility, celebrities and academics, art collectors and hedge funders, politicians and heads of state: a motley compendium of global high society.
Business Insider has transcribed and tabulated the black book in its entirety, making the entries in the late sex offender's notorious Rolodex fully searchable for the first time.
You can search Business Insider's database right here:
There are 1,510 people in Jeffrey Epstein's little black book. Now you can search them all for the first time.
Angela also compiled a dataset of every known flight made by Jeffrey Epstein's private jets. Per her story, the sex offender owned a Gulfstream IV, a Gulfstream GV-SP, and a Boeing 727 nicknamed the "Lolita Express."
We compiled every known flight made by Jeffrey Epstein's fleet of private planes. Search them all for the first time.
Gen Z day traders
Joe Mecane, the head of execution services at Citadel Securities, said this week that retail investors have accounted for as much as 25% of the stock market's activity in recent months, Ben Winck reported.
Robinhood added more than 3 million new accounts in the first quarter alone, meanwhile, and as Ben reported, posts on investing forums have topped Reddit's "popular" page. From Ben's story:
As the stock market attempted to claw back from multiyear lows spurred by the coronavirus outbreak, retail investors flooded the market with speculative bets and improbable picks.
They bought struggling airline and cruise stocks in droves. They rushed into shares of tiny biotechs offering faint hopes of a COVID-19 vaccine. They even piled into shares of Hertz, a bankrupt company whose stock is viewed as worthless in the long run.
He talked to two Gen Z day traders to find out what makes them tick. You can read his story here:
Wall Street is being shaken to its core by a legion of Gen Z day traders. From a casual hobbyist to a 20-year-old running a 14,000-person platform, meet the new generation of retail investors.
Elsewhere in investing news:
The most accurate tech analyst on Wall Street says these 6 stocks have potential for huge gains as they transform the sector
Bank of America identifies 3 indicators that could make or break the stock market this summer – and warns they're all deteriorating fast
UBS has compiled an investing playbook for all the possible election outcomes. Here are the 6 trades it recommends to profit from a Trump triumph — and 10 for a Biden blue wave.
Energy CEO may face charges
From Dakin Campbell:
A senior executive at a Colorado company backed by Apollo Global Management may face charges over pulling a gun on a Mexican American couple that took a wrong turn onto his property.
Paul Favret, the CEO of Resource Energy, may be charged with two counts of menacing and two counts of false imprisonment, according to an arrest warrant issued for Favret that was seen by Business Insider.
"After being made aware of this last week, Resource Energy Partners placed Mr. Favret on administrative leave and retained outside counsel to conduct a thorough review of the incident," a company spokesman said.
You can read the story in full here:
The CEO of an Apollo-backed energy company may face charges for pulling a gun on a Mexican American couple that took a wrong turn near his Colorado home
Below are headlines on some of the stories you might have missed from the past week.
Billions of dollars are gushing through Election 2020. Here are 9 things you need to know, including who's winning in the Trump vs Biden main event.
'Hamilton' creator Lin-Manuel Miranda's best advice for juggling projects, meeting deadlines, and never throwing away your shot
A growing group of lenders are looking to unload hundreds of millions of dollars of souring hotel loans. Teams hired to sell the portfolios say it's just the beginning of a surge in activity.
These 11 people should grow from rich to richer if Palantir has a successful IPO
Inside the legal industry's reaction as it deals with the messy optics of white-shoe law firms taking PPP money
WeWork faces 3 new discrimination and harassment lawsuits, including a complaint that says a manager brought knives and a crossbow to work
16 top tech leaders who came to the US from around the world explain their forceful opposition to Trump's freeze on immigrant work visas: 'It's only going to make America less competitive'
I tried the McKinsey problem-solving game every candidate has to beat to land a 6-figure job at the firm. Here's what you need to know to prepare for the test and impress recruiters.
Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button
Twitter CEO Jack Dorsey engaged in a bit of cross-platform trolling last week, announcing that his company would ban political advertising from the platform, and adding a snarky subtweet aimed at Facebook’s stated policy of tolerance for paid political misinformation.Yet there’s something very strange about the centrality of paid ads in our ongoing debate about how to grapple with viral lies and their distorting effect on democracy.Restricting this particular form of communication may be a simple solution—and one that’s easy to import from familiar debates about campaign finance in the television era—but it holds no real promise for addressing the problem.Paid ads have very little to do with how political deception spreads online, and doing away with them will likely hamper legitimate political speech.Any conversation about misinformation on social media must, of course, engage with Russia’s well-documented campaign of interference in the 2016 American presidential race.While we may never know with any certainty whether that campaign altered the outcome of the election, it’s clear that paid ads were not themselves a significant factor.