Transcript
Charles Schwab (0:00)
This podcast is supported by Charles Schwab. Decisions made in Washington can affect your portfolio every day, but what policy changes should investors be watching? Washington Wise is an original podcast from Charles Schwab that unpacks the stories making news in Washington right now and how they may affect your finances and portfolio. Listen@schwab.com WashingtonWise.
Tracy Mumford (0:25)
From the New York Times, it's the Headlines. I'm Tracy Mumford. Today's Tuesday, January 14th. Here's what covering Just after midnight, the special counsel's report on Donald Trump's efforts to overturn the 2020 election was released to Congress. The report, which the Times got access to, sums up Jack Smith's years long investigation into Trump, which culminated in charges of election interference. And it claims that had Trump gone on trial, there was enough evidence to convict him. Trump winning the 2024 election, however, ended the case. The Justice Department has a policy prohibiting the prosecution of sitting presidents, so the report may be the closest the public will ever get to seeing what could have been laid out in a courtroom. In the report, Smith says Trump undertook a, quote, unprecedented criminal effort to try and stay in power, and Smith took him to task for encouraging violence against his political opponents. The report cites evidence from multiple criminal cases of January 6, rioters who made clear they believed they were acting on Trump's behalf. Trump's lawyers fought the release of the report down to the last minute and denounced it as a political hit job designed to disrupt the presidential transition. Around 2am Trump himself took to social media, posting that Smith is a lame brain and saying, quote, the voters have spoken. Smith resigned as special counsel late last week, but there is another report from him on Trump's alleged mishandling of classified documents that is yet to be released. Meanwhile, the report from the special counsel who investigated Hunter Biden is also now out. David Weiss spent years investigating the president's son. Hunter was ultimately found guilty on firearms charges and pled guilty to tax crimes before he was pardoned by his father. In the report, Weiss specifically criticizes Joe Biden for claiming the charges were politically motivated. Weiss wrote that the president questioning the case threatened, quote, the integrity of the justice system as a whole. Starting today, Trump's cabinet and staff picks for his new administration will face a crucial test. Senate confirmation hearings A dozen potential nominees will be questioned by senators over the coming days, including the people that Trump has tapped to run the State, treasury and Homeland Security departments. The most high profile hearing, and the one that could be the most contentious is this morning for Pete Heth, the former Fox News Host and Army veteran is Trump's pick to run the Pentagon. And from the minute he was named, he's faced a wave of questions about his behavior, from allegations of public drunkenness to claims he mismanaged a veterans nonprofit to a settlement he paid a woman who accused him of sexual assault. And many lawmakers, including some Republicans, said they had reservations. Then a coalition of Trump's allies started carrying out an intense campaign to push all those concerns aside. President Trump nominated Pete Hegseth as secretary of Defense to change things, ban woke nonsense from our armed forces and make our soldiers proud to serve. Call your senator. They bought hundreds of thousands of dollars of ads encouraging people to flood senators offices with calls telling them to support Hegseth.
