Caught between a rock and a hard place. The gang at GZERO Media says House Speaker Kevin McCarthy’s desperate decision to launch an impeachment inquiry against Joe Biden may turn out to be an “over-reachment.” Hats off.
His shameful bid to appease MAGA wingnuts such as Matt Gaetz, Dan Bishop, Chip Roy and Lauren Boebert, who was last seen being booted from a Denver theater for causing a disturbance during a musical production of “Beetlejuice,” leads to a road to nowhere.
These clowns have zero interest in governing. They see politics as the art of performance.
Even Boebert’s rival, the despicable Marjorie Taylor Greene, has had it. She wants no more of the “burn-it-down caucus.”
Launching an impeachment inquiry against a president without a shred of evidence will not go well in the 18 Congressional districts won by Biden but represented by Republicans. When those districts swing back to Democrats in 2024, McCarthy will have to turn over his gavel to Hakeem Jeffries.
McCarthy will rue the day that he sold his soul to the MAGA crowd in order to get his dream job.
Fox panders to viewers… NYC pension funds are suing Fox Corp.’s board of directors for breaching their fiduciary duties by allowing a business model that invites defamation litigation.
The complaint alleges that Fox broadcasts stories that appeal to their viewers regardless of the truth or factual basis, and that the board disregarded any risk.
It charges the directors failed to take any meaningful steps to protect the company from litigation.
“Clear governance systems are absolutely necessary for the long-term health of a company,” said NYC comptroller Brad Lander. “As Fox’s board continues to ignore these red flags, we are holding them accountable as long-term shareholders.”
Fox’s board includes former Speaker of the House Paul Ryan, ex-Ford Motor chief Jacques Nasser and one-time Telemundo Group CEO Roland Hernandez.
Goldman Sachs Cracks Down… Goldman Sachs has fired several executives in its transaction banking business for violating communications policies.
The canned staffers use unauthorized communications channels to conduct business, according to the Financial Times.
The FT reported that the use of unapproved messaging apps, such as WhatsApp, risks violating government-mandated record-keeping practices.
Goldman says it takes its communications policies seriously and expects all of its personnel to comply with them.
It was among the banks to pay $200M in fees last year to the Securities and Exchange Commission and Commodity Futures Trading Commission for running afoul of record-keeping rules.