The Full Belmonte, 3/22/2023
Former President Donald Trump speaks during a Save America rally on October 1, 2022, in Warren, Michigan.
Trump investigations
“Former President Donald Trump is bracing for several potential scenarios related to a possible indictment from the Manhattan grand jury probing a hush money scheme. Even as there are signs the investigation into Trump's alleged role in the scheme to quietly pay adult film star Stormy Daniels is nearing an end, it is not clear yet that the former president will be charged or when those charges could be unveiled. Still, Trump has created a media spectacle around how ‘unfair’ an indictment would be -- a move likely intended to fire up his base to generate funding for his 2024 presidential bid, analysts say. Separately, the Justice Department has also convinced a federal judge that Trump used one of his defense attorneys in furtherance of a crime related to the classified documents probe. This marks the first time that the DOJ is arguing it has evidence that Trump may have committed a crime.” [CNN]
Supreme Court Rules for Deaf Student
Justices say educational accommodations don’t stop a student from suing for past damages
The Supreme Court’s decision on a case involving Miguel Luna Perez, seen in a 2016 school photo, could give educational officials greater incentive to respond to disabled students’ needs. PHOTO: LUNA PEREZ FAMILY
“WASHINGTON—A unanimous Supreme Court opened a new door for disabled students who think their public school isn’t meeting their needs, allowing them to pursue damages under the Americans with Disabilities Act in addition to seeking educational accommodations from local districts.
The justices found no conflict between the ADA and a separate statute, the Individuals with Disabilities Education Act, which requires school districts to provide a free and appropriate education to disabled students….” Read more on Wall Street Journal
“Supreme Court will hear arguments in Jack Daniel's case vs. dog toy company
Lawyers for distiller Jack Daniel's will argue before the Supreme Court today that a dog toy company is ripping off its brand. At the center of the case is a squeaky toy created by VIP Products that is strikingly similar to Jack Daniel's bottles, with a black label and similar font style. The distiller argues that the toy, with its poop-themed jokes, damages its reputation. VIP Products, on the other hand, argues consumers can easily distinguish between Jack Daniel's and their parodied dog toy. Depending on how the high court rules, the case could have major implications on trademark protections for companies that use other brand logos to express humor.” [CNN]
DeSantis rips Trump: ‘a lot of damage’
Today's N.Y. Post
“Florida Gov. Ron DeSantis took direct shots at the competence and character of Donald Trump — his likely rival for the '24 GOP nomination — after months of brushing off the former president's taunts.
‘I think he got way too big for his britches, and I think he did a lot of damage,’ DeSantis said during an interview for "Piers Morgan Uncensored" on the streaming service Fox Nation (via N.Y. Post).
‘It's not important for me to be fighting with people on social media.’
Why it matters: DeSantis, who has dipped in polls amid Trump attacks, knew there was rising risk in remaining a sitting duck while his constituent Donald Trump rampages inside Mar-a-Lago.
"‘T]he way we run the government, I think, is no daily drama,’ DeSantis told Morgan, who was visiting Florida from London.
Asked about conduct in a leader, DeSantis said: ‘You really want to look to people like our founding fathers ... [I]t's not saying that you don't ever make a mistake in your personal life. But I think: What type of character are you bringing?’
Much of this is subtly previewed in DeSantis' new book, "The Courage to Be Free." N.Y. Times columnist Carlos Lozada writes that DeSantis' case against Trump is scattered throughout the pages: ‘You just need to squint through a magnifying glass to find it.’
‘I placed loyalty to the cause over loyalty to me,’ DeSantis writes. ‘I had no desire to be flattered.’
Reality check: DeSantis' is shifting gears just as many top Republicans — even some possible '24 rivals — are rallying to Trump ahead of his expected indictment.
Trump senior adviser Jason Miller told me DeSantis risks making himself ‘unpalatable for many looking to 2028 and beyond.’
DeSantis appears to be trying to hit just hard enough to get under the skin of Trump, who's still calling him "Ron DeSanctimonious."
‘I don't know how to spell the 'sanctimonious' one,’ the honors Yale grad told Piers Morgan. ‘I don't really know what it means ... [I]t's got a lot of vowels.’
DeSantis told Morgan: "If I were to run ... I'm running against Biden."
Asked if he could beat Biden, the governor said: "I think so."
DeSantis, noting his strength with independents in his November re-election blowout, said: ‘[T]hat will be the same formula that we would take ... You can’t win with just Republicans.’” [Axios]
What's going on with deposit insurance
Illustration: Aïda Amer/Axios
“Walk into any bank branch in America, and you will likely see a sign that says, in big letters, ‘FDIC’ — that would be the Federal Deposit Insurance Corporation — and ‘each depositor insured to at least $250,000.’
The ‘at least’ part is taking on new meaning as a banking crisis unfurls, Axios Macro co-author Neil Irwin writes.
Why it matters: The Biden administration and financial regulators are sending every possible signal that no U.S. bank depositors — even those with more than the $250,000 federal insurance cap specified in federal law — will lose money in a bank failure.
They're trying to avert a cascading series of bank runs if people withdraw their money from smaller banks en masse.
But in the process, they are setting a precedent with potentially long-lasting consequences and thin legal authority.
Reality check: Technically speaking, there's no formal FDIC insurance for any deposits over $250,000 right now.
State of play: Ten days ago, the government invoked a ‘systemic risk exception’ to guarantee all depositors in Silicon Valley Bank and Signature Bank.
Officials have been not-so-subtly suggesting they won't allow large depositors in any banks to lose cash.
In a speech yesterday, Treasury Secretary Janet Yellen emphasized that ‘similar actions’ could be warranted if smaller banks face runs — opening the possibility of even community banks receiving implicit backing.
The big picture: The cap on deposit insurance is a long-standing feature of U.S. banking regulation. To abandon it, especially without explicit congressional authorization, opens up a world of issues.
It could create a ‘moral hazard’ issue, in which banks can take extreme risks without the discipline created by large depositors being wary of loss.
The bottom line: If you have big deposits at a U.S. bank, you're probably safe.
But U.S. actions over the past 10 days have opened a can of worms involving how the nation's banking system will work in the future.” [Axios]
TikTok's too-big-to-ban factor
Data: AppTopia. (Musically became TikTok in the U.S. on Aug. 2, 2018.) Table: Axios Visuals
“The U.S. government's threat to ban TikTok takes aim at what has become the most popular smartphone app in the country, Axios Media Trends expert Sara Fischer reports.
Why it matters: TikTok's scale presents an enormous challenge to lawmakers trying to argue that the app's national security threat outweighs the wishes of millions of people and businesses using the app.
The TikTok app has been downloaded more times in the U.S. than any other social app since it merged with U.S. lip-syncing app Musical.ly in August 2018, according to Apptopia data.
The app is expected to generate $11 billion+ in U.S. ad revenue by 2024 — far outpacing rivals Snapchat, Pinterest and Twitter, per eMarketer.
What's next: TikTok CEO Shou Zi Chew highlights the app's growth in remarks prepared for his first-ever congressional testimony tomorrow. The testimony was released last night by the House committee he will address.
The company counts more than 150 million monthly active users in the U.S., up from 100 million users in 2020, executives confirmed to Axios.
Chew yesterday posted a TikTok video touting the app's reach, asserting that 5 million U.S. businesses — a majority of which are small- or medium-size — use TikTok to get to their customers.
Between the lines: The video is part of a broader consumer campaign that the short-video platform is beginning to push, amid growing efforts by federal and state governments to limit or ban the app.
TikTok is appealing to users directly in the app. ‘Some politicians have started to talk about banning TikTok,’ Chew says in the video. ‘Now this could take TikTok away from all 150 million of you.’” [Axios]
Economy
“An announcement on interest rates and new economic projections are expected from the Federal Reserve later today. It will be the first time the world hears from Fed officials since the collapse of Silicon Valley Bank -- and as the US banking system remains under intense pressure. If the Fed follows its pattern of aggressive rate hikes over the past year, it will likely raise interest rates by a quarter of a percentage point, or 25 basis points, underscoring its commitment to fighting inflation. However, some analysts say there is a chance policymakers may decide to hold rates steady this time around due to the ongoing banking turmoil.” [CNN]
Arkansas restricts school bathroom use by transgender people
By ANDREW DeMILLO
FILE - A sticker that reads, ‘Keep Locker Rooms Safe,’ is worn by a person supporting a bill that would eliminate Washington's rule allowing transgender people use gender-segregated bathrooms and locker rooms in public buildings consistent with their gender identity, on Jan. 27, 2016, at the Capitol in Olympia, Wash. On Tuesday, March 21, 2023, Arkansas Gov. Sarah Huckabee Sanders signed a law prohibiting transgender people at public schools from using the restroom that matches their gender identity. Arkansas' law applies to multi-person restrooms and locker rooms at public schools and charter schools serving prekindergarten through 12th grade. (AP Photo/Ted S. Warren, File)
“LITTLE ROCK, Ark. (AP) — Arkansas Gov. Sarah Huckabee Sanders on Tuesday signed a law prohibiting transgender people at public schools from using the restroom that matches their gender identity, the first of several states expected to enact such bans this year amid a flood of bills nationwide targeting the trans community.
The bill signed by the Republican governor makes Arkansas the fourth state to place such restrictions at public schools, and it comes as bills in Idaho and Iowa also await their governor’s signature. And it might be followed by an even stricter Arkansas bill criminalizing transgender adults using public restrooms that match their gender identity.
Arkansas’ law, which won’t take effect until later this summer, applies to multi-person restrooms and locker rooms at public schools and charter schools serving prekindergarten through 12th grade. The majority-Republican Legislature gave final approval to the bill last week….” Read more at AP News
Covid-19 boosters
“While most Americans have put Covid-19 vaccines on the back burner, health officials in the US are now weighing whether to offer another round of bivalent boosters for people at high risk of infection, according to a source familiar with the deliberations. Officials are considering this step because the virus that causes Covid-19 has evolved and protection from existing boosters may be waning. Data recently presented to the CDC shows that in the first two months after adults get the updated booster, the shot appears to be about 50% more effective at preventing hospital or emergency room visits due to Covid-19. By four months, however, the added protection falls to a little more than 30%. Citing this trend, the United Kingdom and Canada have begun allowing certain people to get another bivalent booster.” [CNN]
Three-day strike begins for LA school employees
Mario Tama/Getty Images
“Los Angeles schools, which serve more than 500,000 students, closed Tuesday, as employees and teachers began a three-day strike over better pay and staffing.” [Vox / Nicole Narea]
“More than 30,000 unionized teacher’s assistants, custodians, bus drivers, and other support staff are striking. The LA teachers union joined in solidarity.” [Vox] [NBC / Jonathan Lloyd and Rudy Chinchilla]
“The Los Angeles Unified School District offered a 23 percent raise over several years and a 3 percent one-time bonus; union members rejected that offer. They want a 30 percent raise and an increase of $2 per hour over four years.” [Vox] [USA Today / Nirvi Shah]
“Around 150 schools will remain open to supervise students and 24 centers will provide school meals to families.” [Vox] [CNN / Cheri Mossburg and Holly Yan]
“The district’s support staff have worked without a contract since June 2020, and teachers are currently negotiating their new contract.” [Vox] [Associated Press / Christopher Weber]
Pakistan's parliamentary chaos
“Tuesday, a Pakistan court granted temporary bail to former Prime Minister Imran Khan as he faces two terrorism cases.” [Vox] [AP / Babar Dogar]
“Since officials ousted him from power last year, Khan’s supporters have repeatedly clashed with police during attempts to arrest him.” [Vox] [Al Jazeera / Abid Hussain]
“Khan claims the government is bringing the charges to prevent him from running for office. The political chaos comes as Pakistan faces an economic crisis.” [Vox] [Foreign Policy / Lynne O’Donnell]
“Pakistan’s parliament will meet Wednesday for a special session on Khan’s refusal to surrender to authorities.” [Vox] [Reuters]
“Drought caused 43,000 ‘excess deaths’ in Somalia last year. A new report released by Somalia’s government estimates 43,000 ‘excess deaths’ in the country last year, half of which are believed to be children under the age of five. ‘We continue to be concerned about the level and scale of the public health impact of this deepening and protracted food crisis in Somalia,’ said Somalia’s health minister, Ali Hadji Adam Abubakar. As many as 34,000 deaths have been forecast for the first half of 2023.” [Foreign Policy]
“Boris Johnson to admit he misled Parliament. Former U.K. Prime Minister Boris Johnson is reportedly planning to say that while he misled the House of Commons regarding ‘Partygate,’ a series of Downing Street parties held while the country was in lockdown because of the pandemic, he did so unintentionally and was acting in ‘good faith.’
Ahead of a hearing on Wednesday, Johnson’s 52-page written evidence was released. In it, he wrote, ‘I accept that the House of Commons was misled by my statements that the rules and guidance had been followed completely at No 10. But when the statements were made, they were made in good faith and on the basis of what I honestly knew and believed at the time.’ Johnson risks being suspended from parliament if the cross-party privileges committee decides he ‘recklessly’ misled parliament.” [Foreign Policy]
Earthquake
“A powerful 6.5 magnitude earthquake struck Afghanistan and Pakistan on Tuesday, killing at least 13 people after it damaged buildings and triggered landslides. Officials today said the death toll could rise much higher following the tremors that were felt in several major Pakistani cities and as far away as the Indian capital New Delhi. Dozens of others were injured in affected areas, according to health officials, and rescue teams have been dispatched to some extremely remote areas that don't have cell phone service. Just weeks ago, one of the deadliest earthquakes this century struck Turkey, close to the Syrian border, killing more than 50,000 people and sending aftershocks reverberating throughout the region.” [CNN]
“Ukraine clinched staff-level backing for a $15.6 billion loan from the International Monetary Fund, the first to a nation at war in the IMF’s 77-year history.” [Bloomberg]
Ukraine
“A dayslong meeting between Chinese leader Xi Jinping and Russian President Vladimir Putin concluded today, leaving no question about Beijing's commitment to Russia amid its onslaught in Ukraine. Ultimately, the meetings yielded no breakthrough in resolving the conflict. Both leaders emphasized that peace talks should be used to solve the Ukraine crisis, but Kyiv and the West say any peace agreement must include the withdrawal of Russian troops. Meanwhile, Russia hit Ukraine overnight with another wave of attacks using Iran-made Shahed drones. A total of 21 drones were launched against Ukraine from the north shortly before midnight local time, 16 of which were shot down, according to the Ukrainian air force.” [CNN]
“Tough times | Turkish President Recep Tayyip Erdogan’s failure to convince former economy czar Mehmet Simsek to rejoin his administration is a fresh setback as he seeks support ahead of what could be a tight election against a united opposition candidate in May. Simsek’s decision came hours after an emerging Islamist party leader opted not to join the president’s alliance and to run against him instead.
The biggest non-aligned political party said it won’t field its own candidate in the presidential elections, in a boost to the main opposition coalition’s chances of unseating Erdogan.” [Bloomberg]
Ohtani fans Trout, Japan tops US 3-2 for WBC championship
By RONALD BLUM
Japan pitcher Shohei Ohtani (16) celebrates after defeating the United States at the World Baseball Classic final game, Tuesday, March 21, 2023, in Miami. (AP Photo/Marta Lavandier)
“MIAMI (AP) — Shohei Ohtani and Mike Trout had dreamed of this moment, along with millions of fans throughout Japan and the United States: the two biggest stars on the planet, longtime teammates, facing each other at 60 feet, 6 inches, the world title at stake.
Of course, the count went full.
And then Ohtani got Trout to swing under a slider on the outside corner, sealing Japan’s 3-2 win Tuesday night and its first World Baseball Classic title since 2009.
‘This is the best moment in my life,’ Ohtani said through a translator.
Ohtani, the two-way star who has captivated fans across two continents, was voted MVP of the WBC after batting .435 with one homer, four doubles, eight RBIs and 10 walks while going 2-0 with a save and a 1.86 ERA on the mound, striking out 11 in 9 2/3 innings.
‘I think every baseball fan wanted to see that. I’ve been answering questions about it for the last month-and a-half,’ said Trout, Ohtani’s Los Angeles Angels teammate since 2018…..” Read more at AP News