2 months ago
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PULSE POINTS:
❓What Happened: WarRoom host and former White House chief strategist Stephen K. Bannon contends Elon Musk and the Department of Government Efficiency (DOGE) need to open the agency’s books for public scrutiny after the billionaire tech mogul drastically reduced its spending cut targets. Bannon reiterated his continued support for President Donald J. Trump’s Treasury Secretary Scott Bessent.
👥 Who’s Involved: Stephen K. Bannon, Elon Musk, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and President Donald J. Trump.
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📍 Where & When: Remarks were made at the World Economy Summit in Washington, D.C. on Wednesday, April 23.
💬 Key Quote: Bannon stated that DOGE is a “blunt force instrument” meant to “deconstruct this choking administrative state,” but emphasized the need for accountability and transparency.
⚠️ Impact: Bannon’s comments may increase scrutiny of Musk, reflecting ongoing disputes over governmental roles and policies since Trump’s return to office.
IN FULL:
Former Trump White House chief strategist Stephen K. Bannon is arguing that the American people need to be given a closer look at the Department of Government Efficiency’s (DOGE) books, and guarantees that all of the data it has accessed and created will remain with the Trump administration. Bannon’s remarks were made Wednesday at the World Economy Summit in Washington, D.C., and come as DOGE’s chief advisor, billionaire technology mogul Elon Musk, says he will reduce his role with the agency significantly in May.
Notably, Musk has dramatically reduced the spending cuts targeted by DOGE, from $2 trillion in late 2024 to $1 trillion earlier this year, with his latest claim being that the agency is on track to achieve a comparatively modest $150 billion in reductions.
“He’s questioning the integrity of the system. We need to have a very specific accounting of what he found, as far as fraud goes, and waste… None of this makes sense. The cuts you’ve seen that have been announced are programmatic,” Bannon said on Wednesday, arguing that DOGE is a “blunt force instrument” but necessary to “deconstruct this choking administrative state.”
“Also, I think we have to have a letter of certification that not one data set or piece of data of the United States government or citizens of this country are held by anybody except for the Trump administration,” Bannon continued, before shifting to address the increasing role and importance of President Donald J. Trump’s Treasury Secretary Scott Bessent.
“President Trump’s a very sophisticated businessman, but Scott is a safe pair of hands that understands capital markets deeply,” the WarRoom host said, adding: “He’s done this for 30 years. He has a very strong sense of what markets need to hear as far as information goes.”
Bannon has been a staunch advocate for Bessent, who is seen as a leading economic mind and someone deeply knowledgeable on monetary policy and macroeconomic analysis. In contrast, Musk was part of a camp that pushed for current Commerce Secretary Howard Lutnick to serve as Treasury Secretary.
“I’ll be blunt: if Howard Lutnick had been Secretary of the Treasury, it would have been an unmitigated disaster,” the former White House chief strategist said. Bannon added: “This is about people putting their own interests first, like Elon, versus putting the nation’s interest first.”
WATCH:
Steve Bannon tells @semaforben he views Scott Bessent as “a safe pair of hands,” but believes Howard Lutnick would have been an “unmitigated disaster” as Treasury Secretary #WorldEconomySummit pic.twitter.com/7dXWs7xJJV
— Semafor (@semafor) April 23, 2025
PULSE POINTS:
❓What Happened: Harvard University faces a U.S. Department of Education probe over $1.1 billion in foreign contributions, including $100 million from China, amid allegations of incomplete disclosures.
👥 Who’s Involved: Harvard University, U.S. Department of Education, Secretary Linda McMahon, Open The Books, and foreign entities, including those linked to China and the Palestinian territories.
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📍 Where & When: Investigation announced in Washington, D.C., on April 18, 2025, following Open The Books’ report released on April 17, 2025.
💬 Key Quote: Secretary Linda McMahon stated, “Harvard has not been fully transparent or complete in its disclosures, which is both unacceptable and unlawful.”
⚠️ Impact: The probe could lead to penalties for Harvard, including loss of federal funding, and raises national security concerns over foreign influence, particularly from China, in U.S. academia.
IN FULL:
Harvard University faces increasing government scrutiny over its funding sources, with allegations emerging that it made “incomplete and inaccurate disclosures” regarding over a billion dollars in foreign contributions. Since 2017, the Ivy League institution has accepted $1.1 billion from foreign entities, with over $100 million coming from China. Additionally, it is believed Harvard took $1.6 million from organizations associated with the Palestinian territories.
The revised financial data comes from an investigation by Open the Books, which released its report on foreign gifts to Harvard on Thursday. On April 18, the U.S. Department of Education announced it was launching a probe into the university’s foreign funding, accusing Harvard of not being forthcoming with accurate data.
“As a recipient of federal funding, Harvard University must be transparent about its relations with foreign sources and governments,” President Donald J. Trump’s Secretary of Education, Linda McMahon, said at the start of her department’s investigation. “Unfortunately, our review indicated that Harvard has not been fully transparent or complete in its disclosures, which is both unacceptable and unlawful.”
“This records request is the Trump Administration’s first step to ensure Harvard is not being manipulated by, or doing the bidding of, foreign entities, which include actors who are hostile to the interests of the United States and American students,” Sec. McMahon added.
The report released by Open the Books found that Harvard provides very little detail regarding what projects or programs received the Chinese money, though several million dollars were earmarked for research projects headed by a Chinese-designated lead. Financial arrangements that essentially guarantee the Chinese Communist Party (CCP) can designate individuals to serve in key roles raise serious national security concerns, given the numerous examples of Chinese nationals having engaged in corporate espionage and foreign spying in the past.
Harvard is currently locked in a protracted legal battle with the Trump administration over the university’s refusal to limit pro-Hamas and antisemitic protests on its campus. The Ivy League school faces losing potentially billions of dollars in federal funding.
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