Podcast Summary: Bulwark Takes - "This Might Be Their Most Brazen Ethics Violation Yet"

Release Date: March 20, 2025
Hosts: Tim Miller and Sam Stein
Duration: 12:04 minutes

Introduction

In the March 20, 2025 episode of Bulwark Takes, hosts Tim Miller and Sam Stein delve into what they consider a significant ethical breach within the federal government. The discussion centers around Howard Lutnick, the U.S. Commerce Secretary, and his overt promotion of Tesla amidst a backdrop of declining stock prices and public favorability. The hosts draw parallels to past ethical controversies, analyze recent poll data, and explore the broader implications of government involvement in corporate advocacy.

Howard Lutnick's Promotion of Tesla: A Potential Ethics Violation

The episode begins with Tim Miller introducing Howard Lutnick's recent activities:

[00:00] Tim Miller: "Howard Lutnick, our Commerce Secretary, who's really out there quite a bit for a Commerce Secretary. He's got to be the most visible Commerce Secretary."

Sam Stein acknowledges the visibility of Lutnick and segue into the main issue:

[01:43] Howard Lutnick: "If you want to learn Something on this show tonight. Buy Tesla. It's unbelievable that this guy's stock is this cheap. It'll never be this cheap again. When people understand the things he's building, the robots he's building, the technology he's building, people are going to be dreaming of today and Jesse Waters and thinking, gosh, I should have bought Elon Musk's stock. I mean, who wouldn't invest in Elon Musk? You got to be kidding."

Tim Miller reacts sharply to Lutnick's endorsement, characterizing it as inappropriate for a government official:

[02:45] Tim Miller: "That man, he's in the Cabinet. What's happening? What do you think?"

Sam Stein elaborates on the gravity of the situation, comparing it to past ethical missteps within the administration.

Background: Tesla's Stock and Public Perception

Sam Stein provides context about Tesla's current predicament:

[00:38] Sam Stein: "Tesla, Elon Musk's company is under a lot of pressure from buyers and from Democrats who are saying, you know, use it as a form of protest. Dump your Tesla. Dump. Buy Tesla. Even Tim Walls is out there being like, look at how Tesla stock is going down."

The conversation highlights the dual pressures from consumers and political factions impacting Tesla's market standing. The administration's attempts to bolster Tesla's reputation and stock value are seen as unprecedented, especially given the declining public favorability towards Elon Musk.

Historical Context: Kellyanne Conway and Ethics Violations

Drawing parallels to previous administrations, Sam Stein recalls the 2017 controversy involving Kellyanne Conway:

[03:23] Sam Stein: "I remembered instantaneously back in 2017, Kellyanne Conway, who was not the Commerce Secretary she's counseled to the president at the time she went on Fox and was hawking Ivanka Trump's, you know, clothing lines from the White House with the Fox News interview... you're not really supposed to use the office... to push private businesses."

This comparison underscores the severity of Lutnick's actions by placing them within a historical framework of governmental ethical breaches.

Potential SEC Violations and Legal Implications

The hosts discuss the possible legal ramifications of Lutnick's promotion of Tesla:

[05:57] Sam Stein: "But from points out that if he doesn't own the stock, it's bad too because then he's just like duping people and he doesn't actually think it's a good stock. He's just like, you know what? Go help Elon out."

[05:40] Tim Miller: "This might be an SEC violation. There's reason to believe he does own the stock."

The conversation highlights the potential for Lutnick's actions to constitute violation of Securities and Exchange Commission (SEC) regulations, especially if there's evidence of stock ownership that could influence his endorsements.

Poll Analysis: Fox News Poll and Public Perception

Tim Miller introduces recent Fox News poll data to assess public sentiment:

[06:13] Tim Miller: "But this Fox poll, you know, is I think pretty striking because the way that they obviously, I kind of tried to game the poll wording in a way that would be sympathetic to them... they framed it up in a way... like they, they set it up in a way, you know, that."

Sam Stein critiques the methodology of the poll, suggesting it was designed to elicit favorable responses towards the administration's stance on Tesla:

[07:21] Sam Stein: "My theory of the case is that Republicans kind of... they're just doing it intrinsically... they kind of say, well, I'm not totally on board with how Elon's going about things."

The hosts analyze the disconnect between the administration's support for Tesla and the declining favorability of Elon Musk, indicating a complex interplay between corporate advocacy and political strategy.

Government Support for Tesla: Multi-Departmental Involvement

Sam Stein remarks on the extensive government support Tesla is receiving:

[09:26] Sam Stein: "The biggest thing they've done from, like, propping up an industry perspective is they've stopped killing chickens... they've propped up Tesla..."

Tim Miller adds to the observation by noting the disproportionate allocation of government resources to Tesla:

[10:01] Tim Miller: "But like they've stopped killing chickens. Put the bird flu concerns aside, and they've propped up Tesla and, like, I really don't recall much else."

This section emphasizes the breadth of government intervention in supporting a single corporation, raising questions about crony capitalism and the equitable distribution of federal resources.

Conclusion and Final Thoughts

In wrapping up the discussion, Sam Stein and Tim Miller reflect on the broader implications of Lutnick's actions:

[11:32] Sam Stein: "Crony capitalism basically, if you want to call it that... it's all really bad and grotesque and it's also like really tacky too."

Tim Miller previews upcoming topics and reinforces the importance of scrutinizing governmental ethical standards:

[11:52] Tim Miller: "Well, we'll see what happens tomorrow night on Prime... Subscribe to the feed. Tell your friends. We'll see you soon."

The episode concludes with a call to action for listeners to stay informed and engaged with ongoing political and ethical discussions.

Key Takeaways

• Howard Lutnick's Endorsement: As Commerce Secretary, Lutnick's promotion of Tesla raises significant ethical concerns, potentially violating SEC regulations.

• Historical Parallels: The situation mirrors past ethical violations within the administration, highlighting a recurring issue of governmental misuse of office for private gain.

• Public Sentiment: Polls indicate a decline in public favorability towards Elon Musk, juxtaposed with government efforts to support his company, suggesting possible political maneuvering.

• Government Intervention: Multiple federal departments are heavily involved in propping up Tesla, sparking debates about crony capitalism and the fair allocation of resources.

• Broader Implications: The case serves as a focal point for discussions on ethics in government, corporate influence, and the intersection of politics and business.

This episode of Bulwark Takes provides a critical examination of the ethical boundaries within government practices, using the case of Howard Lutnick and Tesla as a poignant example. Through incisive analysis and historical context, Tim Miller and Sam Stein encourage listeners to consider the implications of such actions on democracy and public trust.