#adam-schiff — Trump Fail

They Did It Anyway: Trump Media Launched the Truth API Exactly on Schedule on August 1 — Selling $100,000-a-Month Early Access to the President's Market-Moving Posts — Days After Senators Referred It to the SEC as Illegal Insider Trading and a Former SEC Official Called It "Misappropriated Information"

When Trump Media unveiled the Truth API — a paid feed selling banks and high-frequency traders a millisecond head start on the president's market-moving Truth Social posts for up to $100,000 a month — the objections were immediate and bipartisan in their substance. Senators Elizabeth Warren and Adam Schiff wrote to the SEC on July 29 calling it "an outrageous abuse of the President's office for his personal benefit that undermines everyday investors and the integrity of our markets." Rep. Ritchie Torres pressed the SEC on what he labeled the "insider trading API." Renée Jones, a former top SEC official, told NPR the arrangement appears to run afoul of insider-trading law: "If the president's Truth Social posts are being monetized, and if some people get special access to them, that's misappropriated information." None of it mattered. On August 1, 2026 — on schedule, without modification — the Truth API went live. Institutional clients now receive the president's posts before the public, and the president's company collects the fees. The launch is its own, separate scandal from the plan to launch: it is the moment the administration was told, in writing, by U.S. senators and former regulators, that a product might be criminal insider trading and monetized state power — and shipped it anyway, betting that an SEC run by Trump's own appointees will never investigate the president's own company. The going-live, over the objection, is the point.

Trump Put His Housing Official — Who Had No Security Clearance, No Intelligence Experience, and Asked If He Could Take the Presidential Daily Brief Home — in Charge of 18 Spy Agencies, Then Told Him to Mass-Fire Intelligence Workers: He's Fired 50+ Officials, Plans to Cut 300-400 from the Counterterrorism Center Built After 9/11, and Even Republicans Say "We Don't Need a Weaponized DNI"

Acting Director of National Intelligence Bill Pulte — who had no security clearance, no intelligence experience, and previously ran the Federal Housing Finance Agency where he filed criminal referrals against Trump's political enemies for alleged mortgage fraud — began mass-firing intelligence officials on July 2, sending termination notices to over 50 career intelligence professionals. Pulte has ordered staff to identify 300-400 employees for dismissal from the National Counterterrorism Center, the operations floor built after 9/11 where CIA, FBI, and ODNI personnel monitor active terrorist threats. He was appointed after Tulsi Gabbard resigned as DNI in May, citing her husband's cancer diagnosis. Trump had nominated Jay Clayton as permanent DNI but then sabotaged his own nominee's confirmation hearing, canceling it hours before it was scheduled and conditioning it on Congress passing the SAVE Act voter ID bill — which the Senate has rejected twice. This caused FISA Section 702 surveillance authority to lapse for the first time in history, as Democrats refused to reauthorize it with an unvetted acting DNI. Senator Mark Warner revealed Pulte asked to take the Presidential Daily Brief home — "the most classified information" in government — and "didn't even know" that was against the law. In his only briefing at ODNI, Pulte asked what level security clearance he had and whether he got a government plane. At FHFA, Pulte filed criminal referrals against Senator Adam Schiff, Fed Governor Lisa Cook, AG Letitia James, and Rep. Eric Swalwell — all Democrats — using Palantir AI tools to search mortgage records of Trump's perceived opponents. Trump told Pulte he could declassify "whatever" he wants. Senate Majority Leader John Thune: "We don't need a weaponized DNI. We need professionals there." A former intelligence official: "This is a fantasy. It only hurts U.S. national security, and it's helpful to Russia, China, and Iran." Another: "It would be like me taking over a hospital and firing dozens of surgeons in a matter of days." Rep. Jim Himes: "If he just starts willy-nilly firing people, it is going to increase the probability that there is a terrorist attack inside the United States." Gabbard had already cut ODNI by 30% — over 500 staffers. Pulte is cutting deeper. The agency created to prevent another 9/11 is now being dismantled by a man who didn't know he couldn't bring classified documents to his house.

Trump Hijacked America's 250th Birthday to Enrich Allies, Sell Access, and Harvest Data — $103 Million in No-Bid Contracts Flowed to a Shadow Organization Run by His Campaign Manager, the January 6 Rally Production Company Got $38.6 Million, Donors Were Allegedly Defrauded, Artists Fled, the Stage Collapsed, the Fair Was Empty, and Newborns Got Branded Social Security Cards

A 55-page House Democrats report titled "From Vanity to Insanity" reveals how Trump hijacked America's 250th birthday celebration. Congress created a bipartisan commission called America250 in 2016 to plan the semiquincentennial. Trump tried to pack it with loyalists. When that failed, he created Freedom 250 by executive order — an LLC housed inside the National Park Foundation, whose board he stacked with his 2024 campaign co-manager Chris LaCivita and fundraising director Meredith O'Rourke. Congress appropriated $150 million for the celebration; America250 received only $25 million while Freedom 250 got at least $68 million in taxpayer funds. Public Citizen and the Revolving Door Project tracked $103 million in federal contracts flowing to "a network of politicized entities under the control of Trump administration officials and political allies." Event Strategies Inc. — the production company behind Trump's January 6, 2021, Ellipse rally — received $38.6 million in no-bid contracts, with a deal extending to 2030 with an option to 2045. Donors who intended to support the bipartisan America250 were allegedly given Freedom 250's banking information instead — conduct the report says could constitute wire fraud. Corporations with regulatory business before the government — ExxonMobil, Oracle, Lockheed Martin, Palantir, United Airlines — donated undisclosed sums. $1 million donors got a photo op with the president; $2.5 million donors got speaking roles. Keith Krach appeared to solicit foreign donations at Davos. The showcase event — the Great American State Fair on the National Mall — was a disaster: most booked artists (Martina McBride, The Commodores, Bret Michaels) pulled out when they learned it was Trump-affiliated; stage panels crashed onto dancers during rehearsal; crowds were sparse despite Trump claiming 45,000; a power outage melted food; extreme heat forced closures; a fifth of states refused to participate; and organizers misspelled their own name on a billboard. Trump staged his own birthday as a national event twice under the Freedom 250 banner. PragerU and Hillsdale College got $10 million for "Freedom Trucks" mobile museums. The Social Security Administration began issuing commemorative cards with the Freedom 250 logo to every baby born in the second half of 2026 — the first time in 90 years the card's design has been politicized. A UFC fight on the White House South Lawn cost $60 million. And Trump made himself chair of the whole operation.

The Full Text of Trump's 14-Point Iran Deal: Lift the Blockade, Waive Oil Sanctions, Unfreeze Assets, Pay $300 Billion — and Iran Keeps Its Missiles, Its Proxies, and Its Nuclear Program

A senior U.S. official read the 14-point "Islamabad Memorandum of Understanding" to reporters on a call Wednesday. The full text reveals: the U.S. will immediately lift its naval blockade, waive all Iranian oil sanctions, unfreeze all restricted Iranian assets, commit to ending all sanctions (UN, IAEA, and unilateral), and fund a $300 billion reconstruction plan — in exchange for Iran reiterating it "will never produce nuclear weapons" (a promise it already made under the JCPOA) and reopening the Strait of Hormuz (which was open before the war). Iran's missile program is not mentioned. Its proxy networks are not mentioned. Its enriched uranium stockpile is deferred to a "final agreement." Sen. Murphy: "Make no mistake: these are Iran's terms. They made one single concession — opening the Strait. And it's not even a concession because the Strait was open before the war." The Institute for the Study of War: Iran "emerged from the conflict in a stronger strategic position." Trump withdrew from Obama's JCPOA calling it the "worst deal ever." He then started a war, killed over 1,700 Iranian civilians, and signed a deal that gives Iran more than the JCPOA did — without addressing the missiles he said justified leaving the JCPOA in the first place.

Trump Plots to "Expunge" Both Impeachments from the Record — Constitutional Scholars: "You Cannot Un-Ring a Bell"

The Wall Street Journal reports Trump and allies are pushing a House resolution to expunge both impeachments — for abusing power to pressure Ukraine and for inciting the January 6 insurrection. Trump: "It should be done because I did nothing wrong. It was a rigged deal." Speaker Johnson: "I think it makes a lot of sense." Constitutional scholars say the Constitution contains no mechanism to undo an impeachment. Georgetown's Jonathan Turley: "It is not like a constitutional DUI. Once you are impeached, you are impeached." Hofstra's James Sample: "You cannot un-ring a bell." Rep. Darrell Issa introduced a resolution in April; Rep. Anna Paulina Luna announced another. GOP lawmakers privately say it won't be considered until after the midterms — because rehashing Trump's conduct would hurt them. Schiff: "There is no expunging the stain." Raskin: "There is a very easy way to not get impeached: stop committing impeachable offenses."