Since taking office, President Trump's businesses have likely taken in more than $13 million from special interest groups representing private prisons, payday lenders, and many other industries seeking to curry favor with his administration.

2/ While it’s long been routine for wealthy interests seeking to buy access and influence over a president to do so by making large political contributions to his campaign and allied groups, it’s unique to President Trump that these groups personally enrich him in the process.
3/ We've tracked 137 of these events since the day Trump took office. https://t.co/toIW0EJOyK
4/ And some of the big spenders have gotten their money's worth, as the NYT laid out earlier this month in a detailed report partly based on our data https://t.co/VCdBhZgHKt
5/ Groups large and small have learned that holding expensive events that the president profits from is a part of doing business in Trump's Washington, and it's paying off.

Take the AHRI, which spent $700k at Doral, and got a favorable decision within weeks
6/ Then there's the payday lending industry, which spent about $1 million on two events at Doral. They ultimately got a rollback of an Obama-era rule that would have cost them $7.5 billion. Great return on investment!
https://t.co/szzlJFQ8I6
7/ This is an actual gif shared in an payday lending industry blog post
8/ Coupled with their political contributions, they knew they were buying access and influence to the administration. We know that because the head of one of the country’s largest payday lending companies was caught on leaked audio bragging about it
https://t.co/VOmZxKGSAV
9/ And even the candy industry is in on the mix. Just six months after the National Confectioners Association held an event at Doral, Trump's FDA proposed delaying an Obama-era rule that would impose stricter labeling standards on products https://t.co/BKdOI9Ef2S
👻🎃spooookkkky Hallooooweeen Coorruuuption🎃👻
10/ This is not at all an exhaustive list. There's no public reporting of these events. These are events that we track day in and day out through any public means available. There are almost certainly other events, and other deals we don't know about.
11/ (Sidenote: in terms of tracking, we also benefit greatly from @Z_Everson's tireless work, which was also used in the NYT report)
12/ But perhaps most importantly, we don't know how much was actually spent.

We know that these events can cost well into the hundreds of thousands of dollars, so our $13 million estimate is almost certainly a very, very conservative one, which is insane https://t.co/BKdOI9Ef2S
In conclusion, you all now have a slightly better understanding for why my head explodes every time this president calls someone other than himself corrupt.

The End/

More from Politics

THREAD:
Good afternoon, followers of frivolous election litigation. There's a last-minute entry in the competition for dumbest pre-inauguration lawsuit - a totally loony effort to apparently leave the entire USA without a government.

We'll start with the complaint in a minute.

But first, I want to give you a quick explanation for why I'm going to keep talking about these cases even after the inauguration.

They're part of an ongoing effort - one that's not well-coordinated but is widespread - to discredit our fundamental system of government.

It's a direct descendent, in more ways than one, of birtherism. And here's the thing about birtherism. It might have been a joke to a lot of people, but it was extremely pernicious. It obviously validated the racist "not good enough to be President" crowd. But that wasn't all.

Don't get me wrong, that was bad enough. Validating racism helped put the kind of shitbird who would tweet this from an official government account into power. But it didn't stop


(Also, if you agree with Pompeo about multiculturalism - the legendary melting pot - not being what this country is all about, you need to stop following me now. And maybe go somewhere and think about your life choices and what made you such a tool.)
My piece in the NY Times today: "the Trump administration is denying applications submitted to the United States Citizenship and Immigration Services at a rate 37 percent higher than the Obama administration did in 2016."

Based on this analysis: "Denials for immigration benefits—travel documents, work permits, green cards, worker petitions, etc.—increased 37 percent since FY 2016. On an absolute basis, FY 2018 will see more than about 155,000 more denials than FY 2016."
https://t.co/Bl0naOO0sh


"This increase in denials cannot be credited to an overall rise in applications. In fact, the total number of applications so far this year is 2 percent lower than in 2016. It could be that the higher denial rate is also discouraging some people from applying at all.."

Thanks to @gsiskind for his insightful comments. The increase in denials, he said, is “significant enough to make one think that Congress must have passed legislation changing the requirements. But we know they have not.”

My conclusion:

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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.


The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.

This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.

The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."

This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.