8 votes

Weekly US politics news and updates thread - week of February 26

This thread is posted weekly - please try to post all relevant US political content in here, such as news, updates, opinion articles, etc. Extremely significant events may warrant a separate topic, but almost all should be posted in here.

This is an inherently political thread; please try to avoid antagonistic arguments and bickering matches. Comment threads that devolve into unproductive arguments may be removed so that the overall topic is able to continue.

6 comments

  1. psi
    Link
    Yesterday the Supreme Court decided to hear Trump's appeal regarding his claims of absolute immunity. There is virtually no chance Trump will prevail, of course, but he will have succeeded in...

    Yesterday the Supreme Court decided to hear Trump's appeal regarding his claims of absolute immunity. There is virtually no chance Trump will prevail, of course, but he will have succeeded in furthering his actual goal: delaying his DC trial for as long as possible, likely until after the election. The Supreme Court could have heard this case months ago when the Justice Department petitioned the Court for certiorari before judgment. It would have been unusual, but this is the rare case where timeliness is essential. Instead the Court decided to make itself complicit in Trump's gamesmanship of the judiciary.

    4 votes
  2. psi
    (edited )
    Link
    In Trump-being-Trump news: "Trump Media co-founders sue company, alleging a scheme to dilute shares." The Washington Post. (gift) To summarize the facts as alleged: Two former contestants from The...

    In Trump-being-Trump news:

    To summarize the facts as alleged:

    • Two former contestants from The Apprentice pitch Donald Trump on a Trump-branded social media company (Truth Social).
    • In exchange for his branding and presence, Trump would own 90% of the company and 78 million shares, worth ~$3.5 billion (yes, this is incredibly depressing); the two co-founders would own 8.6% of the company and 7 million shares, worth ~$339 million; and a lawyer managing the deal would own the remaining 1.4%.
    • The two co-founders leave the company amid disputes with leadership.
    • Now that the company is about to go public, the company has increased the total amount of shares from 120 million shares to 1 billion shares. (The lawsuit describes this as an "11th hour, pre-merger corporate maneuvering" tactic.)
    • However, the co-founders would still receive the same fixed 7 million shares, which would now be worth "only" tens of millions of dollars. The lawsuit alleges that the newly minted shares would be issued to Trump, his associates, and his children.

    So yeah, Trump continues to screw over his business associates. Hear me play the world's smallest fiddle for the fools who indulged America's worst President. And as if to prove the universe abhors justice, this merger could be a real landfall for Trump, making the recent civil cases against him look like peanuts in comparison.

    2 votes