Balance of Power – Bloomberg

Episode Title: Former FBI Director Comey Charged Amid Trump Retribution Push
Air Date: September 26, 2025
Hosts: Joe Mathieu, Kailey Leinz
Key Guests: Laura Davison (Bloomberg Deputy Bureau Chief), Keith Ellison (Minnesota Attorney General), Rick Davis (Republican Strategist), Jeannie Shanzano (Bloomberg Politics Contributor), Melinda Herring (Atlantic Council, Eurasia Center)

Episode Overview

This episode explores the unprecedented indictment of former FBI Director James Comey, widely seen as part of a broader Trump administration campaign of retribution against political opponents. The discussion spans reactions within government and legal circles, potential political fallout, and how these events intersect with pressing issues like an impending government shutdown, evolving Russia-Ukraine tensions, and notable stories from the 2025 political campaign trail.

Key Discussion Points & Insights

1. Comey Indictment & the Trump DOJ

• Breaking News: James Comey, former FBI Director, has been indicted on charges of lying to Congress about Russian interference in the 2016 election. The move has been described as "unprecedented" and a "massive escalation" in the politicization of the Department of Justice.
• Trump’s Reaction: As he left for the Ryder Cup, President Trump made clear this is part of a broader offensive:

  “Not a list, but I think there’ll be others. I mean, they're corrupt. These were corrupt radical left Democrats. … What they’ve done is terrible.” — Donald Trump, [00:55] & [21:22]

Legal and Political Analysis

• Laura Davison ([02:06], [02:50]):

  • Trump has clearly pressured for legal action, including wanting investigations into Adam Schiff and Letitia James.
  • The influx of loyalists into key DOJ positions is contributing to rapid developments.
  • Many career DOJ officials view this moment as an egregious breach of the traditional separation between the executive branch and federal law enforcement.
  • Indictment against Comey is “short” and “not particularly specific”; could be dismissed for lack of evidence.
  • DOJ has become “the personal prosecutorial arm of the president” under Trump—a sharp break from the last five decades of practice.

  “That is not at all how Trump sees the Justice Department.” — Laura Davison, [02:50]

Comey’s Response

• Comey released a video vowing to fight the charges, reminiscent of his 2017 stance after his firing by Trump:

  “He’s not afraid…let’s have a trial.” — Laura Davison, [03:31]

Keith Ellison (Minnesota AG) Perspective

• Criticizes the indictment as vindictive and lacking substance:

  “It has all the hallmarks of just a vindictive prosecution...not a result of investigation by trained prosecutors looking for the truth.” — Keith Ellison, [19:11]

• Sees this as a Rubicon-crossing moment for American justice:

  “Democratic countries don’t operate this way. This is what happens in banana republics.” — Keith Ellison, [22:05]

• Expresses confidence Comey will be vindicated, as the evidence appears weak.

2. Government Shutdown Looming

• With Congress out of session and partisan lines deeply entrenched, a government shutdown in the coming week is seen as virtually inevitable.
• Both parties are largely posturing; a few moderate Democratic senators (Van Holland, Kaine, Klobuchar) are publicly willing to talk, but leadership resists further concessions after earlier bruising negotiations.

  “Both sides are really dug in…Trump even kind of shrugged off the risk of a shutdown: ‘if it shuts down, it shuts down.’” — Laura Davison, [05:10]

• Timestamps: Shutdown discussion starts [04:49]–[06:37]

3. TikTok Ownership Controversy

• The Trump administration’s TikTok deal is under scrutiny; the new arrangement appears not to meet the letter of the law, as ByteDance remains a primary owner.

• Investors and the public are confused by conflicting signals over valuation and ownership.

  “The order just really sort of keeps the process moving. It does not close the deal. It does not finalize the deal.” — Laura Davison, [07:02]

• Keith Ellison reinforces his legal actions against TikTok for causing harm to youth:

  “We believe that the way they operate is damaging to the health and mental and emotional health of children.” — Keith Ellison, [25:22] “We consider it to be like digital nicotine.” — Ellison, [26:28]

Noteworthy Exchange:
Joe Matthew: “Ten years in the future, are we going to look back at social media like we do cigarettes, or cars without seat belts? How did we let this happen?”
Keith Ellison: “I really do think so…There is a place for TikTok…But just like any useful but susceptible to abuse thing, we need to put the right guardrail around it.” [27:03–27:29]

4. Oppo Research & Privacy Breach in NJ Governor’s Race

• A significant data leak exposed military service records (including SSNs) of Rep. Mikie Sherrill, Democratic candidate for NJ governor, allegedly due to a technician’s error—though accusations of partisanship are flying.

• Political strategists call this a serious institutional failure, recalling previous mishandlings.

  “You have to have authorizations to get this stuff right on a FOIA request. It’s a very limited amount of information that the archives will give you…huge embarrassment for the agency…” — Rick Davis, [09:29]

• Sherrill frames her own Academy discipline as an act of principle (refusing to “snitch” on classmates), which may resonate with some voters.

  “She is trying, and her campaign is trying to use this to her advantage. And she is no snitch…” — Jeannie Shan Zaino, [16:24]

• The general sense: this episode might reshape the campaign narrative, with the potential to cut both ways.

5. Ukraine: NATO Tensions & Evolving US Support

• Developments: Several NATO countries’ airspaces have been violated by Russia. European leaders warn Moscow of direct military response; Trump has publicly backed this hardline approach ([31:22]–[32:46]).

• German Foreign Minister:

  “Russia perhaps wants to lead us into a trap...But Russia has to know we are prepared for each and every situation.” — Johann Jadeful, [32:33]

• Guest Melinda Herring (Atlantic Council):

  • Sees this as an inflection point; Russia is provoking but hasn’t met any real resistance.

  • Believes shooting down a Russian jet would not trigger escalation but is a necessary step for deterrence.

    “If somebody shot down a MiG31...What would Putin do? —Nothing.” — Melinda Herring, [35:31]

  • Trump’s Ukraine Stance: Trump has “thrown in for Ukraine” citing war-weariness and moral reasons (notably influenced by Melania Trump, whose close Ukrainian friends and compassion for children affected by war have shaped Trump’s evolving policy).

    “Her two best friends are Ukrainian Americans...Melania is talking to Trump about [the abductions]. That issue does—there is real resonance there with both the Trumps.” — Melinda Herring, [38:13]

  • Trump’s shift has yet to be matched by concrete aid changes (e.g., Tomahawk missiles), but rhetoric is notably more supportive.

• Frontline Update:
  Ukraine’s lines are holding; war remains one of attrition and could feasibly continue for 18 months barring major changes in Western support.

    > “The Ukrainians don't have enough men. They need more materiel. The Europeans have committed to delivering that…But so far, the lines are holding.” — Melinda Herring, [42:56]
  

6. Big Picture: States’ Rights and the Rule of Law

• At a Congressional Black Caucus event, Keith Ellison discussed the shifting meaning of states’ rights, historically a conservative rallying cry, but now often championed by Democratic state attorneys general to counter federal overreach.

  “…states' rights—the Tenth Amendment—is an important right, although it's not absolute...Many of Dem AGs are asserting the 10th Amendment, saying that, 'Look, this is beyond the authority of the federal government to do.'” — Keith Ellison, [28:05–28:39]

Memorable Quotes & Moments

• On the weaponization of DOJ:

  "This is simply not how we do justice in America. It is absurd, and of course, it happens, and then within a few days, we see these indictments come out."
  — Keith Ellison, [20:12]

• On Trump’s shifting Ukraine policy:

  "The person we haven't talked about, and I think the most influential person…is Melania Trump. …Her two best friends are Ukrainian-American…That issue does, like, there is real resonance there with both of the Trumps."
  — Melinda Herring, [38:13]

• On TikTok’s impact on youth:

  "We consider it to be like digital nicotine."
  — Keith Ellison, [26:28]

• On service record privacy leak:

  "This is a huge embarrassment for the agency … and it’s happened before. Don Bacon had his service records released to his opponent. …Regardless of the requests that come in, we have to depend on these institutions to do their part of the job. And in this case, pretty clear failure."
  — Rick Davis, [09:29]

Important Timestamps

• Comey Indictment & Political Fallout: [00:55] – [04:49], [18:18] – [24:51]
• Government Shutdown: [04:49] – [06:37]
• TikTok Legal & Ownership Issues: [07:02], [25:20] – [27:44]
• New Jersey Governor’s Race & Privacy Leak: [08:00] – [17:00]
• Ukraine/Airspace Violations/NATO Response: [31:22] – [44:08]

Conclusion

The episode paints a portrait of a turbulent Washington, with institutions and political norms under unprecedented strain. The Comey indictment, widely seen as an act of political retribution, raises alarm about the health of American democracy and rule of law, issues echoed in the ongoing government shutdown standoff. Meanwhile, foreign policy challenges—particularly on the Ukraine-Russia front—interlock with domestic political shifts, as risk, morality, and electoral strategies blend in unexpected ways. Thought-provoking insights from high-level guests illuminate these complex intersections at a moment when “the fire hose of news” is, as the hosts say, nearly impossible to keep up with.