(A)Political Newsletter - Volume 13

(A)political Newsletter - U.S. Political News & Election Updates

Good morning everyone,

What a week it has been, both for the US and the world. In the United States, several military personnel and government officials have been outed for corruption and charged with criminal offenses. The Republicans continue to find a replacement for Speaker of the House, and President Biden backpedals on domestic policies as his State Department scrambles amid the Israel conflict. All in all, it’s just another day at the office. Let’s see what we have.

In today’s edition:

  • Stock Watching

  • The Speakership race continues

  • Bob Menendez accused of being an Egyptian agent

  • George Santos corruption charges

CONGRESSIONAL STOCK WATCHER

  • Nancy Pelosi trading strategy has risen 54% so far this year.

    • Representative Pelosi has made almost 100 times her annual congressional salary off of her portfolio.

    • Last year, Pelosi held up efforts to ban congressional trading.

  • House Oversight Chairman James Comer plans to investigate Biden's $6B Iranian transfer, per The Washington Examiner.

  • The House GOP conference is meeting tonight (10/10) to discuss rules changes.

    • Matt Gaetz has said that he will help his GOP colleagues change the MTV threshold if they enact anti-corruption proposals made by Ro Khanna.

    • This would include a ban on congressional stock trading.

  • Representatives @mattgaetz and @RoKhanna have estimated that less than 20 of their fellow lawmakers support anti-corruption measures.

    • This is less than 5% of Congress. 86% of voters support a ban on congressional trading.

  • Israel is seeking missiles and artillery from the US, per Politico. Raytheon, $RTX, is the major U.S. partner in production of components for Iron Dome missiles.

  • Nancy Marks, the treasurer for Representative George Santos, has pleaded guilty to conspiracy to defraud the US.

    • She admitted to making false statements in conjunction with Santos.

    • Santos still holds office, despite facing indictments on 13 criminal charges.

  • Pioneer Natural Resources, $PXD, has risen almost 10% on news of a potential acquisition by Exxon.

    • Representative Kevin Hern has made a profit of approximately $400K from his trading of $PXD.

    • Hern has been a member of the House Subcommittee on Energy and Mineral Resources.

Be on the Lookout:

George Santos has had another 10 charges filed against him. Matt Gaetz and Ro Khanna are working on preventing on a bill to prevent congressional members from participating in insider trading among other anti-corruption topics.

Steve Scalise Drops Out of Speakership Race

(Photo - AP)

October 13, 2023: Rep. Steve Scalise has announced he will drop out of the race for Speaker of the House, further adding confusion to the Congressional Chamber. Scalise had won the internal secret nomination ballot in a vote of 113-99; however, this only showed how many Republicans he had to sway on the House Floor, where he could potentially have four Republican votes against him, assuming all Democrats vote against him. Since he received the nomination against Rep. Jim Jordan (R-In.), he has been dealing with several members who have continued to adamantly refuse their support for various reasons. Nancy Mace (R-SC) has referenced the event where Scalise compared himself to White Supremacist David Duke, while others, such as Lauren Boebert (R-Col), have stated objections due to his cancer diagnosis.

Jordan will most likely have the same problem Scalise has had: that no near unanimity prevents his nomination. The Washington Post reported that Republicans will vote that the nominee must have 217 out of 218 votes to win the Republican nomination, which will almost certainly take a long time to muster those votes, continuing to add uncertainty. Former President Trump, after initially endorsing Jordan for the original speakership race, has since remained neutral, except highlighting multiple times Scalise’s health problems. This has only added to the inability of the House to do anything, especially in responding to the crisis in Israel.

Senator Bob Menendez Charged with acting as Foreign Agent

October 12, 2023: Senator Bob Mendenez (D.-N.J.) has been indicted for acting as a foreign agent for Egypt, with his wife receiving the same charge. Menendez has been facing multiple crises since he was indicted by the federal government for receiving bribes in order to advocate for the Egyptian government in Congress. In response, he stepped down as head of the Senate Foreign Relations Committee. However, he did not resign from Congress, and he and his wife have denied all wrongdoing.

Many politicians, including the New Jersey Governor and much of the New Jersey Congressional delegation, have called on him to resign. Rep. Andy Kim (D-N.J.) has announced a primary challenge, referencing Mendenez’s refusal to resign. Polling has found that in a theoretical matchup, Menendez would only receive 10% of the vote in a Democratic primary.

Rep. George Santos Now Facing 23 Federal Charges

Photo - J. Scott Applewhite/AP

October 10, 2023: Rep. George Santos had been charged with 23 felonies, surpassing his earlier 13. These charges include conspiracy, wire fraud, false statements, falsification of records, aggravated identity theft, and credit card fraud.

Rep. Santos has claimed he is not guilty, saying he is “entitled to due process and will fight the indictments until the bitter end”. He also pleaded not guilty earlier this year to 10 similar charges.

Prosecutors believe that this fundraising scheme by Rep. Santos was to make his campaign look better than it was. He has also been accused of lying about his resume and past experience to help his chances of getting elected.

His Republican colleagues have moved to oust Rep. Santos from his seat as the charges get worse. Many Democrats have also joined the call for his expulsion, but with a narrow lead in the House, Republicans are weighing their options.

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