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Memory-Holed? Western Digital Dumps $3 Billion Sandisk Stock Stake
Memory-Holed? Western Digital Dumps $3 Billion Sandisk Stock Stake
Almost exactly a year after the spinoff officially closed on Feb. 24 last year, Western Digital is seeking to raise $3.09 billion from the sale of its remaining equity stake in Sandisk.
While WDC has risen dramatically, SNDK has been on quite a tear since the spin-off...
Chief Financial Officer Kris Sennesael said on Western Digital’s quarterly earnings call Jan. 29. that the company planned to sell its remaining 7.5 million Sandisk shares before the one-year anniversary of the separation.
And so, according to a statement Sandisk launched the sale on behalf of its former parent in a statement Tuesday that didn’t disclose how many shares it would sell.
According to the statement, Western Digital is expected to exchange the SanDisk shares for debt held by affiliates of JPMorgan and Bank of America.
For now, WDC is flat in the after-hours trade but SNDK is down around 8%, extending the losses during the day...
Amid a global shortage of flash memory, that has sent DRAM prices soaring since September, demand for Sandisk’s products, which are used in computers and mobile phones, has, as Bloomberg reports, been linked to the tech industry’s characteristic boom and bust cycles, keeping valuations in check.
The banks will sell the stock to the underwriters of the offering, whom they represent.
Did WDC's decision just mark the top in the memory melt-up?
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 17:17
https://www.zerohedge.com/technology/memory-holed-western-digital-dumps-3-billion-sandisk-stock-stake
Memory-Holed? Western Digital Dumps $3 Billion Sandisk Stock Stake
Almost exactly a year after the spinoff officially closed on Feb. 24 last year, Western Digital is seeking to raise $3.09 billion from the sale of its remaining equity stake in Sandisk.
While WDC has risen dramatically, SNDK has been on quite a tear since the spin-off...
Chief Financial Officer Kris Sennesael said on Western Digital’s quarterly earnings call Jan. 29. that the company planned to sell its remaining 7.5 million Sandisk shares before the one-year anniversary of the separation.
And so, according to a statement Sandisk launched the sale on behalf of its former parent in a statement Tuesday that didn’t disclose how many shares it would sell.
According to the statement, Western Digital is expected to exchange the SanDisk shares for debt held by affiliates of JPMorgan and Bank of America.
For now, WDC is flat in the after-hours trade but SNDK is down around 8%, extending the losses during the day...
Amid a global shortage of flash memory, that has sent DRAM prices soaring since September, demand for Sandisk’s products, which are used in computers and mobile phones, has, as Bloomberg reports, been linked to the tech industry’s characteristic boom and bust cycles, keeping valuations in check.
The banks will sell the stock to the underwriters of the offering, whom they represent.
Did WDC's decision just mark the top in the memory melt-up?
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 17:17
https://www.zerohedge.com/technology/memory-holed-western-digital-dumps-3-billion-sandisk-stock-stake
Escalation: Iran, Russia, China To Hold Naval Drill In Flashpoint Strait Of Hormuz
Escalation: Iran, Russia, China To Hold Naval Drill In Flashpoint Strait Of Hormuz
Are Russia and China finally standing up to America's addiction to regime change wars in the Middle East? They appear to at least be flashing some muscle in this incredibly tense moment, as the US deploys no less than two nuclear-powered aircraft carriers to the region.
Russia, China, and Iran have deployed naval vessels to the Strait of Hormuz for joint exercises this week, Russian presidential aide Nikolay Patrushev announced Tuesday, according to Anadolu and https://en.mehrnews.com/news/241865/Iran-Russia-China-to-hold-drill-in-Strait-of-Hormuz
. This comes as Iran's elite IRGC Navy is already in day two of military drills in the vital oil transit point, having closed some sectors of the chokepoint.
In a fresh interview with Turkish media, Patrushev said Moscow is advancing a "multipolar world order on the oceans" to counter what he blasted as Western hegemony.
"We will tap into the potential of BRICS, which should now be given a full-fledged strategic maritime dimension," he said. These fresh mid-February drills are being called Maritime Security Belt 2026.
It turns out Russian and Chinese warships have already been in the region as part of prior Iran-hosted drills, and without doubt they've lingered to keep a very close eye on developments after President Trump started threatening Tehran over its nuclear as well as ballistic missiles programs.
Also coming off last month's BRICS naval drills in South Africa which were dubbed "Will for Peace 2026" - Chinese, Russian, and Iranian ships have in recent years showed deepened coordination and cooperation, in an increased number of joint drills.
"The Maritime Security Belt 2026 exercises in the Strait of Hormuz, where Russia, China, and Iran sent their ships, proved to be relevant," he added.
If the US were to launch a 'surprise' attack on Iran, it remains unlikely that either Russia or China would come to Tehran's direct aid and engage militarily with Washington.
However, it's possible more Chinese and Russian ships would be sent to patrol flashpoint waters, making things more delicate and difficult in terms of US Navy maneuvering and firing.
Likely Moscow and Beijing would team up to issue a UN Security Council condemnation, and would seek to rally the globe against another Iraq-style war in the Middle East, with likely disastrous consequences for the whole region.
The second round of Iran-US talks wrapped up Tuesday in Geneva with mixed results. The Iranians have said the sides could be headed toward a new deal, and yet diplomats have admitted it was a heavy, and not very positive or amicable atmosphere. So things remain ultra-tense and charged, to say the least.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 16:40
https://www.zerohedge.com/geopolitical/escalation-iran-russia-china-hold-naval-drill-flashpoint-strait-hormuz
Escalation: Iran, Russia, China To Hold Naval Drill In Flashpoint Strait Of Hormuz
Are Russia and China finally standing up to America's addiction to regime change wars in the Middle East? They appear to at least be flashing some muscle in this incredibly tense moment, as the US deploys no less than two nuclear-powered aircraft carriers to the region.
Russia, China, and Iran have deployed naval vessels to the Strait of Hormuz for joint exercises this week, Russian presidential aide Nikolay Patrushev announced Tuesday, according to Anadolu and https://en.mehrnews.com/news/241865/Iran-Russia-China-to-hold-drill-in-Strait-of-Hormuz
. This comes as Iran's elite IRGC Navy is already in day two of military drills in the vital oil transit point, having closed some sectors of the chokepoint.
In a fresh interview with Turkish media, Patrushev said Moscow is advancing a "multipolar world order on the oceans" to counter what he blasted as Western hegemony.
"We will tap into the potential of BRICS, which should now be given a full-fledged strategic maritime dimension," he said. These fresh mid-February drills are being called Maritime Security Belt 2026.
It turns out Russian and Chinese warships have already been in the region as part of prior Iran-hosted drills, and without doubt they've lingered to keep a very close eye on developments after President Trump started threatening Tehran over its nuclear as well as ballistic missiles programs.
Also coming off last month's BRICS naval drills in South Africa which were dubbed "Will for Peace 2026" - Chinese, Russian, and Iranian ships have in recent years showed deepened coordination and cooperation, in an increased number of joint drills.
"The Maritime Security Belt 2026 exercises in the Strait of Hormuz, where Russia, China, and Iran sent their ships, proved to be relevant," he added.
If the US were to launch a 'surprise' attack on Iran, it remains unlikely that either Russia or China would come to Tehran's direct aid and engage militarily with Washington.
However, it's possible more Chinese and Russian ships would be sent to patrol flashpoint waters, making things more delicate and difficult in terms of US Navy maneuvering and firing.
Likely Moscow and Beijing would team up to issue a UN Security Council condemnation, and would seek to rally the globe against another Iraq-style war in the Middle East, with likely disastrous consequences for the whole region.
The second round of Iran-US talks wrapped up Tuesday in Geneva with mixed results. The Iranians have said the sides could be headed toward a new deal, and yet diplomats have admitted it was a heavy, and not very positive or amicable atmosphere. So things remain ultra-tense and charged, to say the least.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 16:40
https://www.zerohedge.com/geopolitical/escalation-iran-russia-china-hold-naval-drill-flashpoint-strait-hormuz
The Crowdsourcing Of Cutting Waste & Fraud
The Crowdsourcing Of Cutting Waste & Fraud
https://www.theepochtimes.com/opinion/the-crowdsourcing-of-waste-and-fraud-5986112?utm_source=partner&utm_campaign=ZeroHedge
The Trump administration came into office with a pledge to uproot waste, fraud, and abuse within the government’s system of transfer payments. Leading the charge would be Elon Musk and his Department of Government Efficiency (DOGE).
They began their work early on with earnest and passion, starting inauguration evening, with many long days and nights of data crunching and number slinging, under the assumption that auditing government would be similar to auditing a private company.
DOGE quickly found itself buried and overwhelmed. There were too many programs, too much leakage, no coordination between departments, strange sources of incoming and outgoing payments, shadowy institutions and names flying everywhere, and eye-popping levels of inefficiency. It became obvious that many decades had gone by without any scrupulous concern for how taxpayer dollars were used.
After months on the job, DOGE backed away from the big picture job and embedded itself in specific agencies with more focus and less in the way of press releases. Elon went back to his enterprises which had been suffering with his absence and distractions. Meanwhile, his small cadre of data mavens stayed on and got to work, agency by agency.
This much became clear: the job was too much for them. They had to prioritize their work. It was decided that the most important priority would be to sync up the many random databases strewn here and there and everywhere into large packages that were manageable and could be checked, with lines of spending matching sources and purposes. Nothing like this existed before.
Once that was done, it became clear that the datasets were too large for a team of workers. They needed to open source all the data and enlist help from the public. In essence, the problems were just too big to isolate problem spending from legitimate spending. The decision was made to bundle it all up and do waves of file dumps on the public.
After all, we live in the age of the citizen researcher, people with fast Internet connections, large machines, high degrees of skill, and a passion to discover. For too long, the affairs of government have lived in a cloud of secrecy, probably for one hundred years or more. The excuse has always been discretion: It wasn’t the public’s business how the money was spent. But this is ridiculous; we are talking about taxpayer dollars. The citizens do in fact have the right to know. The goal of bringing all this out into the open would represent a fundamental change in the operation of public policy.
The most elaborate installation yet was just posted on the website of the Department of Health and Human Services, with a focus on Medicaid. This is a program designed to provide needed services to the poor. Annual spending exceeds $1 trillion a year, having entered into new upward slopes of spending in the COVID era where government unleashed the printing presses and spent money as if it were in infinite supply. This one program now accounts for 18 percent of U.S. health care expenditures.
Exactly where is all this going?
We now have a tool that helps show what is happening.
HHS has https://opendata.hhs.gov/datasets/medicaid-provider-spending
to help citizens understand the fullness of what is going on.
This effort has also involved Scott Bessent at the Department of Treasury. He has announced that anyone who can find fraud and submit the evidence to the website will be given 10 to 30 percent of the fines imposed on the receiving individual or organization. This means giving rewards to intrepid researchers who can find and prove fraud in the program. The efforts will take months or years, simply because there is so much of it.
Elon Musk and others have given low estimates of 5 to 10 percent of fraudulent Medicaid spending over the last 10 years, while others say the number is closer to 20 and 30 percent. Figures like $1 trillion are being thrown around as possible numbers on how much has been lost. They could be much higher. As we discovered in the Minnesota case, the fraud can be brazen and undisguised or it can be surreptitious and shape-shifting in order to avoid detection.
There are many features of this effort that are fascinating. To my knowledge, this is the first time that a strategy like this has been deployed to clear up the welfare state. It’s probably the largest data dump by government in history. The strategy of enlisting citizen researchers is also new and very brilliant, recalling bounty hunters of the Old West. People are talented and care deeply. Why not use that energy to clean up public spending?
The single most striking feature of this data release is that it was covered nowhere in the mainstream press. You might have thought otherwise—that the nation’s press would be all over this—but not so. I kept looking for the headline but they were nowhere to be seen apart from The Epoch Times, Townhall, and a few other venues. There is no question that mainstream media is quite anxious to bury the news. If not for Elon’s X social media app, and The Epoch Times, hardly anyone would even know about this!
What’s most fascinating about this is what it reveals about the politics and culture of major media operations. You might think that even left-liberals would be on board with rooting out corruption and abuse within government programs, if only to shore up public confidence in their operations. But, again, as we saw in Minnesota, the dedication from elite circles to silencing all public knowledge of how their money is actually being used seems to be an essential part of their messaging priorities. As a result, one of the most spectacular moves in history to clean up the operations of government has gotten almost no attention outside alternative venues.
In the bigger picture, the challenge that the Trump administration took on is larger and grander than anyone knew. The second term hit following the largest explosion of government spending ever recorded, with some $6 trillion -$8 trillion added in the name of public health in a few short years. Overall, total cumulative spending added across the years 2020 to 2025 totals roughly $33 trillion –$34 trillion.
I’m profoundly aware that no human mind can even conceive of numbers on that scale. They are simply incomprehensible. Remember too that government has no resources of its own; whatever it has to spend is taken from the public in one form or another: taxes, inflation, or debt paid by future generations. In essence, what we have seen over these years has set new records for profligacy.
I noted that after the first few months of DOGE’s work in 2025, a kind of demoralization set in. The problem they had sworn to tackle was just too big for even a great team of researchers. DOGE and the Trump administration deserve maximum credit for their persistence and coming up with a plausible strategy for achieving the goal. It’s a start, in any case, and sets a mighty precedent for the future.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 16:20
https://www.zerohedge.com/political/crowdsourcing-cutting-waste-fraud
The Crowdsourcing Of Cutting Waste & Fraud
https://www.theepochtimes.com/opinion/the-crowdsourcing-of-waste-and-fraud-5986112?utm_source=partner&utm_campaign=ZeroHedge
The Trump administration came into office with a pledge to uproot waste, fraud, and abuse within the government’s system of transfer payments. Leading the charge would be Elon Musk and his Department of Government Efficiency (DOGE).
They began their work early on with earnest and passion, starting inauguration evening, with many long days and nights of data crunching and number slinging, under the assumption that auditing government would be similar to auditing a private company.
DOGE quickly found itself buried and overwhelmed. There were too many programs, too much leakage, no coordination between departments, strange sources of incoming and outgoing payments, shadowy institutions and names flying everywhere, and eye-popping levels of inefficiency. It became obvious that many decades had gone by without any scrupulous concern for how taxpayer dollars were used.
After months on the job, DOGE backed away from the big picture job and embedded itself in specific agencies with more focus and less in the way of press releases. Elon went back to his enterprises which had been suffering with his absence and distractions. Meanwhile, his small cadre of data mavens stayed on and got to work, agency by agency.
This much became clear: the job was too much for them. They had to prioritize their work. It was decided that the most important priority would be to sync up the many random databases strewn here and there and everywhere into large packages that were manageable and could be checked, with lines of spending matching sources and purposes. Nothing like this existed before.
Once that was done, it became clear that the datasets were too large for a team of workers. They needed to open source all the data and enlist help from the public. In essence, the problems were just too big to isolate problem spending from legitimate spending. The decision was made to bundle it all up and do waves of file dumps on the public.
After all, we live in the age of the citizen researcher, people with fast Internet connections, large machines, high degrees of skill, and a passion to discover. For too long, the affairs of government have lived in a cloud of secrecy, probably for one hundred years or more. The excuse has always been discretion: It wasn’t the public’s business how the money was spent. But this is ridiculous; we are talking about taxpayer dollars. The citizens do in fact have the right to know. The goal of bringing all this out into the open would represent a fundamental change in the operation of public policy.
The most elaborate installation yet was just posted on the website of the Department of Health and Human Services, with a focus on Medicaid. This is a program designed to provide needed services to the poor. Annual spending exceeds $1 trillion a year, having entered into new upward slopes of spending in the COVID era where government unleashed the printing presses and spent money as if it were in infinite supply. This one program now accounts for 18 percent of U.S. health care expenditures.
Exactly where is all this going?
We now have a tool that helps show what is happening.
HHS has https://opendata.hhs.gov/datasets/medicaid-provider-spending
to help citizens understand the fullness of what is going on.
This effort has also involved Scott Bessent at the Department of Treasury. He has announced that anyone who can find fraud and submit the evidence to the website will be given 10 to 30 percent of the fines imposed on the receiving individual or organization. This means giving rewards to intrepid researchers who can find and prove fraud in the program. The efforts will take months or years, simply because there is so much of it.
Elon Musk and others have given low estimates of 5 to 10 percent of fraudulent Medicaid spending over the last 10 years, while others say the number is closer to 20 and 30 percent. Figures like $1 trillion are being thrown around as possible numbers on how much has been lost. They could be much higher. As we discovered in the Minnesota case, the fraud can be brazen and undisguised or it can be surreptitious and shape-shifting in order to avoid detection.
There are many features of this effort that are fascinating. To my knowledge, this is the first time that a strategy like this has been deployed to clear up the welfare state. It’s probably the largest data dump by government in history. The strategy of enlisting citizen researchers is also new and very brilliant, recalling bounty hunters of the Old West. People are talented and care deeply. Why not use that energy to clean up public spending?
The single most striking feature of this data release is that it was covered nowhere in the mainstream press. You might have thought otherwise—that the nation’s press would be all over this—but not so. I kept looking for the headline but they were nowhere to be seen apart from The Epoch Times, Townhall, and a few other venues. There is no question that mainstream media is quite anxious to bury the news. If not for Elon’s X social media app, and The Epoch Times, hardly anyone would even know about this!
What’s most fascinating about this is what it reveals about the politics and culture of major media operations. You might think that even left-liberals would be on board with rooting out corruption and abuse within government programs, if only to shore up public confidence in their operations. But, again, as we saw in Minnesota, the dedication from elite circles to silencing all public knowledge of how their money is actually being used seems to be an essential part of their messaging priorities. As a result, one of the most spectacular moves in history to clean up the operations of government has gotten almost no attention outside alternative venues.
In the bigger picture, the challenge that the Trump administration took on is larger and grander than anyone knew. The second term hit following the largest explosion of government spending ever recorded, with some $6 trillion -$8 trillion added in the name of public health in a few short years. Overall, total cumulative spending added across the years 2020 to 2025 totals roughly $33 trillion –$34 trillion.
I’m profoundly aware that no human mind can even conceive of numbers on that scale. They are simply incomprehensible. Remember too that government has no resources of its own; whatever it has to spend is taken from the public in one form or another: taxes, inflation, or debt paid by future generations. In essence, what we have seen over these years has set new records for profligacy.
I noted that after the first few months of DOGE’s work in 2025, a kind of demoralization set in. The problem they had sworn to tackle was just too big for even a great team of researchers. DOGE and the Trump administration deserve maximum credit for their persistence and coming up with a plausible strategy for achieving the goal. It’s a start, in any case, and sets a mighty precedent for the future.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 16:20
https://www.zerohedge.com/political/crowdsourcing-cutting-waste-fraud
Democrats Pile On After Rep. Fine Doubles Down On 'Dogs Over Muslims' Remarks
Democrats Pile On After Rep. Fine Doubles Down On 'Dogs Over Muslims' Remarks
https://modernity.news/2026/02/17/democrats-pile-on-after-rep-fine-doubles-down-on-dogs-over-muslims-remarks/
Democrats are scrambling to condemn Florida Rep. Randy Fine for his unapologetic defense of American pet ownership against radical Islamic demands to ban dogs as “unclean.”
The firestorm erupted after New York Muslim activist Nerdeen Kiswani declared, “Dogs definitely have a place in society, just not as indoor pets. Like we [Muslims have] said all along, they are unclean [“najis”].”
Kiswani later claimed, “Lmao at the Zionists frothing at the mouth at this, thinking they’re doing something. It’s obviously a joke I don’t care if you have a dog, I do care if your dog is shitting everywhere and you’re not cleaning it.”
In response, Fine laid out the stark choice: “If they force us to choose, the choice between dogs and Muslims is not a difficult one.”
For context, this is the leader of one of the key mainstream Muslim groups that supported Mamdani. https://t.co/zcIs4tVyly
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023164125363265596?ref_src=twsrc%5Etfw
https://t.co/GVWZFm6D86
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023217743684612539?ref_src=twsrc%5Etfw
Democrats piled on Fine, with Rep. Ro Khanna calling it “Disgusting bigotry” and demanding, “Fine must be censured.”
Khanna doubled down: “Taking an alleged comment by one person and attributing it to everyone who shares that person’s faith is the definition of bigotry.”
Rep. Dan Goldman labeled it an “Islamophobic” comment that’s “incredibly damaging to Jews trying to combat antisemitism.”
Rep. Eric Swalwell insisted, “America is BETTER because of our Muslim community” and “we are WORSE when assholes like this guy spout hate.”
Rep. Alexandria Ocasio-Cortez fumed, “This is genuinely one of the most disgusting statements I have ever seen issued by an American official,” adding, “Fine should be censured & stripped of committees.”
Fine’s opponent Jennifer Jenkins vowed, “I’m running to kick that bigot out of Washington.”
Rep. Bob Menendez complained, “This is what it looks like when Islamophobia and outrage are the only two items on your political agenda.”
California Gov. Gavin Newsom barked, “Resign now, you racist slob.”
Leftist media figures like CNN’s Jake Tapper echoed, “Disgusting bigotry,” while New York Times’ David French called it “Absolutely evil.”
In a Newsmax appearance, Fine pushed back, stating “It’s not enough for Democrats to think anyone who wants to come here illegally should be able to do that. They also think they should be able to get whatever free stuff they want. Now they’re demanding that we change our values and how we live as Americans.”
A major Muslim leader in NYC is calling for dogs to be forbidden because they “bother some Muslims.”
If Mainstream Muslims make us choose between keeping our dogs and them going home, the choice is easy. https://t.co/FvaLpYE0oB
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023746175136940141?ref_src=twsrc%5Etfw
Fine clapped back at all the Democrats calling for his censure.
An alleged comment? IT WAS IN WRITING, POSTED TO X, AND SEEN MILLIONS OF TIMES BEFORE I RESPONDED.
Perhaps you should have read it before you started spouting off like an idiot.
As for quoting the Torah, you're forgiven as it is not your faith, but in that same chapter –… https://t.co/t9TvjLemFq
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023603863442403414?ref_src=twsrc%5Etfw
Islam is not a race, moron. It is a religion.
One where some of its New York leadership is calling for the abolition of dogs.
Good luck bringing that to California. https://twitter.com/HarmlessYardDog?ref_src=twsrc%5Etfw
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023416933870449076?ref_src=twsrc%5Etfw
At least I know where the equator is. https://t.co/n3bIIyenNF
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023719684210618388?ref_src=twsrc%5Etfw
I'd think your New York constituents would want to keep their dogs. https://t.co/Ke567lEbKe
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023613332901482547?ref_src=twsrc%5Etfw
He also hit back at media blowhards like Piers Morgan.
Piers, what is disgusting is a major NYC Muslim leader saying we must give up our dogs because "NYC is coming to Islam"
We will not be shamed into being conquered like the Europeans.
I choose my dog.
I know my first appearance on your show didn't go well for you, but if you… https://t.co/RYXXa4bOJt
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023523491761295524?ref_src=twsrc%5Etfw
Your support is crucial in helping us defeat mass censorship. Please consider donating via https://pauljosephwatson.locals.com/support
.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 15:20
https://www.zerohedge.com/political/democrats-pile-after-rep-fine-doubles-down-dogs-over-muslims-remarks
Democrats Pile On After Rep. Fine Doubles Down On 'Dogs Over Muslims' Remarks
https://modernity.news/2026/02/17/democrats-pile-on-after-rep-fine-doubles-down-on-dogs-over-muslims-remarks/
Democrats are scrambling to condemn Florida Rep. Randy Fine for his unapologetic defense of American pet ownership against radical Islamic demands to ban dogs as “unclean.”
The firestorm erupted after New York Muslim activist Nerdeen Kiswani declared, “Dogs definitely have a place in society, just not as indoor pets. Like we [Muslims have] said all along, they are unclean [“najis”].”
Kiswani later claimed, “Lmao at the Zionists frothing at the mouth at this, thinking they’re doing something. It’s obviously a joke I don’t care if you have a dog, I do care if your dog is shitting everywhere and you’re not cleaning it.”
In response, Fine laid out the stark choice: “If they force us to choose, the choice between dogs and Muslims is not a difficult one.”
For context, this is the leader of one of the key mainstream Muslim groups that supported Mamdani. https://t.co/zcIs4tVyly
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023164125363265596?ref_src=twsrc%5Etfw
https://t.co/GVWZFm6D86
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023217743684612539?ref_src=twsrc%5Etfw
Democrats piled on Fine, with Rep. Ro Khanna calling it “Disgusting bigotry” and demanding, “Fine must be censured.”
Khanna doubled down: “Taking an alleged comment by one person and attributing it to everyone who shares that person’s faith is the definition of bigotry.”
Rep. Dan Goldman labeled it an “Islamophobic” comment that’s “incredibly damaging to Jews trying to combat antisemitism.”
Rep. Eric Swalwell insisted, “America is BETTER because of our Muslim community” and “we are WORSE when assholes like this guy spout hate.”
Rep. Alexandria Ocasio-Cortez fumed, “This is genuinely one of the most disgusting statements I have ever seen issued by an American official,” adding, “Fine should be censured & stripped of committees.”
Fine’s opponent Jennifer Jenkins vowed, “I’m running to kick that bigot out of Washington.”
Rep. Bob Menendez complained, “This is what it looks like when Islamophobia and outrage are the only two items on your political agenda.”
California Gov. Gavin Newsom barked, “Resign now, you racist slob.”
Leftist media figures like CNN’s Jake Tapper echoed, “Disgusting bigotry,” while New York Times’ David French called it “Absolutely evil.”
In a Newsmax appearance, Fine pushed back, stating “It’s not enough for Democrats to think anyone who wants to come here illegally should be able to do that. They also think they should be able to get whatever free stuff they want. Now they’re demanding that we change our values and how we live as Americans.”
A major Muslim leader in NYC is calling for dogs to be forbidden because they “bother some Muslims.”
If Mainstream Muslims make us choose between keeping our dogs and them going home, the choice is easy. https://t.co/FvaLpYE0oB
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023746175136940141?ref_src=twsrc%5Etfw
Fine clapped back at all the Democrats calling for his censure.
An alleged comment? IT WAS IN WRITING, POSTED TO X, AND SEEN MILLIONS OF TIMES BEFORE I RESPONDED.
Perhaps you should have read it before you started spouting off like an idiot.
As for quoting the Torah, you're forgiven as it is not your faith, but in that same chapter –… https://t.co/t9TvjLemFq
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023603863442403414?ref_src=twsrc%5Etfw
Islam is not a race, moron. It is a religion.
One where some of its New York leadership is calling for the abolition of dogs.
Good luck bringing that to California. https://twitter.com/HarmlessYardDog?ref_src=twsrc%5Etfw
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023416933870449076?ref_src=twsrc%5Etfw
At least I know where the equator is. https://t.co/n3bIIyenNF
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023719684210618388?ref_src=twsrc%5Etfw
I'd think your New York constituents would want to keep their dogs. https://t.co/Ke567lEbKe
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023613332901482547?ref_src=twsrc%5Etfw
He also hit back at media blowhards like Piers Morgan.
Piers, what is disgusting is a major NYC Muslim leader saying we must give up our dogs because "NYC is coming to Islam"
We will not be shamed into being conquered like the Europeans.
I choose my dog.
I know my first appearance on your show didn't go well for you, but if you… https://t.co/RYXXa4bOJt
— Congressman Randy Fine (@RepFine) https://twitter.com/RepFine/status/2023523491761295524?ref_src=twsrc%5Etfw
Your support is crucial in helping us defeat mass censorship. Please consider donating via https://pauljosephwatson.locals.com/support
.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 15:20
https://www.zerohedge.com/political/democrats-pile-after-rep-fine-doubles-down-dogs-over-muslims-remarks
When Both Sides Go Quiet
When Both Sides Go Quiet
Submitted by https://quoththeraven.substack.com/p/when-both-sides-go-quiet
There is a political instinct that I’ve developed over the last few decade or so: when both parties are shouting, it’s business as usual. When both parties go quiet, pay attention, because something ugly is probably getting passed or covered up, and the American taxpayer is likely footing the bill of consequences.
Few public controversies in recent memory have generated as much bipartisan distrust as the handling of the Epstein files. Republicans accused Democrats of failing to pursue full transparency while President Biden was in office. Now Democrats accuse Republicans of withholding or slow-walking the release of the complete records. The blame shifts with political control, but the underlying fact pattern remains the same: both parties have figures of influence whose names have surfaced in connection with Epstein’s orbit.
That reality complicates the politics of accountability and fuels public suspicion that neither side is entirely comfortable with full disclosure.
What should have been a straightforward matter of transparency, identifying networks of power, influence, and possible criminal complicity, has instead unfolded as a slow humiliating drip of redactions, procedural delays, partial disclosures and cagey congressional testimony. Each release seems to raise more questions than it resolves. These questions revolve around sex trafficking, exploitation, abuse of minors, coercion and manipulation, elite complicity, obstruction of justice, etc.
But the deeper damage taking place now is not only about the crimes associated with Jeffrey Epstein. It is about institutional response. If only one political party had meaningful exposure to the scandal, the other would likely have been far more relentless in demanding transparency. But this is different. Despite Democrats harping on the files now, they were quiet in the years prior to Trump’s second term and, because Epstein’s connections span media, finance, academia, and politics, the discomfort still appears bipartisan.
And that is precisely what unsettles me.
When both political parties fail to press aggressively on something meaningful, especially something morally explosive, it often suggests that the issue cuts deeper than surface narratives allow. Bipartisan hesitation can signal overlapping vulnerability. Silence across the aisle is rarely accidental.
The horror here is not just what may have occurred in private circles of power, but the perception that the institutions tasked with accountability are reluctant to fully illuminate it. Justice delayed in cases involving elites feels less like procedural caution and more like reputational risk management. Whether or not that perception is entirely fair, it is corrosive.
Meanwhile, Goldman Sachs’ chief legal officer Kathryn Ruemmler announced her resignation after new emails with Epstein came to light, prompting internal pressure at the firm. British political figure Peter Mandelson resigned from the House of Lords and the Labour Party, and Scotland Yard has opened a criminal investigation into his ties with Epstein. In Norway, parliament has launched an external inquiry into prominent diplomats for their connections to Epstein, and police are investigating corruption allegations against former prime minister Thorbjørn Jagland and others.
🔥 50% OFF FOR LIFE: Using this coupon entitles you to 50% off an annual subscription to Fringe Finance for life: https://quoththeraven.substack.com/subscribe?coupon=d8097c43
Across Europe, these disclosures have triggered formal probes, resignations, and institutional reviews that contrast sharply with the relative lack of accountability for high-profile figures in the United States, where calls for investigations and resignations have largely stalled. I mean, is Les Wexner really allowed to just walk around free at this point? How can that be possible? How are Kimbal Musk and Elon Musk allowed to remain on Tesla’s board? Why isn’t Bill Gates being hauled in front of congress?
I have long argued that Americans should apply the same “when both parties agree, the American public is getting screwed” scrutiny to monetary policy for a similar reason. It is one of the few areas where both major political parties display remarkable convergence. While they wage visible battles over cultural issues and tax rates, they tend to align on central banking frameworks, large scale liquidity interventions, and deficit tolerance. Like other cover-ups, that alignment deserves examination.
Monetary policy operates largely outside daily partisan warfare, yet it shapes purchasing power, asset prices, debt burdens, and wealth distribution. When balance sheets expand aggressively and markets are repeatedly stabilized during downturns, the effects are uneven. Asset holders often benefit first and most. Meanwhile, wage earners experience the lagging side effects such as inflationary pressure, higher living costs, and diminished purchasing power.
Supporters of Modern Monetary Theory argue that sovereign currency systems provide more fiscal flexibility than traditionally assumed. Critics counter that, in practice, repeated interventions risk entrenching a cycle in which gains are privatized and losses are socialized. When markets rise, the wealth effect accrues to those with substantial exposure. When markets falter, public backstops prevent collapse. The middle class absorbs the inflationary residue. And the wealth gap widens:
The structural similarity matters. When both parties avoid aggressive debate on a policy that materially burdens the average American, it raises the same instinctive question of what incentives are being protected. Monetary policy may not carry the visceral grotesqueness of the Epstein scandal, but it carries long term economic consequences that most Americans don’t know they are bearing, and don’t understand that they are being lied to about.
The comparison is not moral equivalence. It is structural parallel. In one case, alleged networks of power may be shielded by mutual hesitation. In the other, a financial architecture persists with limited democratic scrutiny because challenging it would destabilize shared political comfort. In both cases, bipartisan alignment dampens confrontation. Two forms of silence. Two different domains. Both revealing.
Foreign policy, particularly the authorization and funding of wars, has often followed a similar pattern. While domestic issues produce loud partisan divides, military interventions abroad frequently pass with overwhelming support from leadership in both parties. Public debate may flare at the margins, but institutional consensus tends to solidify quickly once action begins.
History shows that major military engagements, from post 9/11 authorizations to prolonged overseas conflicts, have often been backed by broad congressional majorities. The initial votes are decisive. The funding continues year after year. Only later, when costs mount and public opinion shifts, does meaningful dissent emerge. By then, strategic commitments and financial obligations are deeply entrenched.
Again, the pattern is not about moral equivalence between policy domains. It is about incentives. When both political parties converge quickly on matters involving immense money, immense power, or immense liability, scrutiny tends to narrow rather than widen. And when scrutiny narrows at the highest levels, the public’s role shifts from participant to spectator.
When both political parties fail to address something meaningful, when they close ranks instead of competing for exposure, the public should not assume the issue is trivial. More often, it suggests the truth behind the surface may be larger and more consequential than advertised.
Democracies depend not just on disagreement, but on adversarial pressure. When that pressure disappears, citizens are right to lean in, not tune out. When both sides go quiet, the story is rarely over. As the Epstein files are showing, it may simply run far deeper than we are being shown.
Now read:
https://quoththeraven.substack.com/p/why-epstein-just-became-the-largest
https://quoththeraven.substack.com/p/the-fed-is-printing-again-and-nobodys
https://quoththeraven.substack.com/p/do-doj-docs-show-epstein-death-notice
https://quoththeraven.substack.com/p/the-hijacking-of-bitcoin-epsteins
https://quoththeraven.substack.com/p/why-americas-two-party-system-will
QTR’s Disclaimer: Please read my full legal disclaimer https://quoththeraven.substack.com/about
with my best effort to uphold what the license asks, or with the permission of the author.
This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. If you see numbers and calculations of any sort, assume they are wrong and double check them. I failed Algebra in 8th grade and topped off my high school math accolades by getting a D- in remedial Calculus my senior year, before becoming an English major in college so I could bullshit my way through things easier. I am an investor in Mark’s fund.
The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 14:00
https://www.zerohedge.com/markets/when-both-sides-go-quiet
When Both Sides Go Quiet
Submitted by https://quoththeraven.substack.com/p/when-both-sides-go-quiet
There is a political instinct that I’ve developed over the last few decade or so: when both parties are shouting, it’s business as usual. When both parties go quiet, pay attention, because something ugly is probably getting passed or covered up, and the American taxpayer is likely footing the bill of consequences.
Few public controversies in recent memory have generated as much bipartisan distrust as the handling of the Epstein files. Republicans accused Democrats of failing to pursue full transparency while President Biden was in office. Now Democrats accuse Republicans of withholding or slow-walking the release of the complete records. The blame shifts with political control, but the underlying fact pattern remains the same: both parties have figures of influence whose names have surfaced in connection with Epstein’s orbit.
That reality complicates the politics of accountability and fuels public suspicion that neither side is entirely comfortable with full disclosure.
What should have been a straightforward matter of transparency, identifying networks of power, influence, and possible criminal complicity, has instead unfolded as a slow humiliating drip of redactions, procedural delays, partial disclosures and cagey congressional testimony. Each release seems to raise more questions than it resolves. These questions revolve around sex trafficking, exploitation, abuse of minors, coercion and manipulation, elite complicity, obstruction of justice, etc.
But the deeper damage taking place now is not only about the crimes associated with Jeffrey Epstein. It is about institutional response. If only one political party had meaningful exposure to the scandal, the other would likely have been far more relentless in demanding transparency. But this is different. Despite Democrats harping on the files now, they were quiet in the years prior to Trump’s second term and, because Epstein’s connections span media, finance, academia, and politics, the discomfort still appears bipartisan.
And that is precisely what unsettles me.
When both political parties fail to press aggressively on something meaningful, especially something morally explosive, it often suggests that the issue cuts deeper than surface narratives allow. Bipartisan hesitation can signal overlapping vulnerability. Silence across the aisle is rarely accidental.
The horror here is not just what may have occurred in private circles of power, but the perception that the institutions tasked with accountability are reluctant to fully illuminate it. Justice delayed in cases involving elites feels less like procedural caution and more like reputational risk management. Whether or not that perception is entirely fair, it is corrosive.
Meanwhile, Goldman Sachs’ chief legal officer Kathryn Ruemmler announced her resignation after new emails with Epstein came to light, prompting internal pressure at the firm. British political figure Peter Mandelson resigned from the House of Lords and the Labour Party, and Scotland Yard has opened a criminal investigation into his ties with Epstein. In Norway, parliament has launched an external inquiry into prominent diplomats for their connections to Epstein, and police are investigating corruption allegations against former prime minister Thorbjørn Jagland and others.
🔥 50% OFF FOR LIFE: Using this coupon entitles you to 50% off an annual subscription to Fringe Finance for life: https://quoththeraven.substack.com/subscribe?coupon=d8097c43
Across Europe, these disclosures have triggered formal probes, resignations, and institutional reviews that contrast sharply with the relative lack of accountability for high-profile figures in the United States, where calls for investigations and resignations have largely stalled. I mean, is Les Wexner really allowed to just walk around free at this point? How can that be possible? How are Kimbal Musk and Elon Musk allowed to remain on Tesla’s board? Why isn’t Bill Gates being hauled in front of congress?
I have long argued that Americans should apply the same “when both parties agree, the American public is getting screwed” scrutiny to monetary policy for a similar reason. It is one of the few areas where both major political parties display remarkable convergence. While they wage visible battles over cultural issues and tax rates, they tend to align on central banking frameworks, large scale liquidity interventions, and deficit tolerance. Like other cover-ups, that alignment deserves examination.
Monetary policy operates largely outside daily partisan warfare, yet it shapes purchasing power, asset prices, debt burdens, and wealth distribution. When balance sheets expand aggressively and markets are repeatedly stabilized during downturns, the effects are uneven. Asset holders often benefit first and most. Meanwhile, wage earners experience the lagging side effects such as inflationary pressure, higher living costs, and diminished purchasing power.
Supporters of Modern Monetary Theory argue that sovereign currency systems provide more fiscal flexibility than traditionally assumed. Critics counter that, in practice, repeated interventions risk entrenching a cycle in which gains are privatized and losses are socialized. When markets rise, the wealth effect accrues to those with substantial exposure. When markets falter, public backstops prevent collapse. The middle class absorbs the inflationary residue. And the wealth gap widens:
The structural similarity matters. When both parties avoid aggressive debate on a policy that materially burdens the average American, it raises the same instinctive question of what incentives are being protected. Monetary policy may not carry the visceral grotesqueness of the Epstein scandal, but it carries long term economic consequences that most Americans don’t know they are bearing, and don’t understand that they are being lied to about.
The comparison is not moral equivalence. It is structural parallel. In one case, alleged networks of power may be shielded by mutual hesitation. In the other, a financial architecture persists with limited democratic scrutiny because challenging it would destabilize shared political comfort. In both cases, bipartisan alignment dampens confrontation. Two forms of silence. Two different domains. Both revealing.
Foreign policy, particularly the authorization and funding of wars, has often followed a similar pattern. While domestic issues produce loud partisan divides, military interventions abroad frequently pass with overwhelming support from leadership in both parties. Public debate may flare at the margins, but institutional consensus tends to solidify quickly once action begins.
History shows that major military engagements, from post 9/11 authorizations to prolonged overseas conflicts, have often been backed by broad congressional majorities. The initial votes are decisive. The funding continues year after year. Only later, when costs mount and public opinion shifts, does meaningful dissent emerge. By then, strategic commitments and financial obligations are deeply entrenched.
Again, the pattern is not about moral equivalence between policy domains. It is about incentives. When both political parties converge quickly on matters involving immense money, immense power, or immense liability, scrutiny tends to narrow rather than widen. And when scrutiny narrows at the highest levels, the public’s role shifts from participant to spectator.
When both political parties fail to address something meaningful, when they close ranks instead of competing for exposure, the public should not assume the issue is trivial. More often, it suggests the truth behind the surface may be larger and more consequential than advertised.
Democracies depend not just on disagreement, but on adversarial pressure. When that pressure disappears, citizens are right to lean in, not tune out. When both sides go quiet, the story is rarely over. As the Epstein files are showing, it may simply run far deeper than we are being shown.
Now read:
https://quoththeraven.substack.com/p/why-epstein-just-became-the-largest
https://quoththeraven.substack.com/p/the-fed-is-printing-again-and-nobodys
https://quoththeraven.substack.com/p/do-doj-docs-show-epstein-death-notice
https://quoththeraven.substack.com/p/the-hijacking-of-bitcoin-epsteins
https://quoththeraven.substack.com/p/why-americas-two-party-system-will
QTR’s Disclaimer: Please read my full legal disclaimer https://quoththeraven.substack.com/about
with my best effort to uphold what the license asks, or with the permission of the author.
This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. If you see numbers and calculations of any sort, assume they are wrong and double check them. I failed Algebra in 8th grade and topped off my high school math accolades by getting a D- in remedial Calculus my senior year, before becoming an English major in college so I could bullshit my way through things easier. I am an investor in Mark’s fund.
The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 14:00
https://www.zerohedge.com/markets/when-both-sides-go-quiet
It Begins: Mamdani Plans First NYC Property Tax Hike In Decades To Plug $5 Billion Hole
It Begins: Mamdani Plans First NYC Property Tax Hike In Decades To Plug $5 Billion Hole
New York City property owners are set to 'enjoy' the first property tax hike in more than two decades as part of a proposed solution by Mayor Zohran Mamdani to fill a roughly $5 billion budget gap, Bloomberg reports.
"He’s put a pretty extreme option on the table, which is a combination of raising property taxes and taking money from reserves and relying on some pretty aggressive revenue projections to boot," said NYC Comptroller Mark Levine.
The pitch, set to be unveiled Tuesday afternoon during Mamdani's preliminary budget proposal, comes one day after Governor Kathy Hochul vowed to kick in another $1.5 billion in additional aid to the city for the current fiscal year and next. Hochul has also committed $510 million for future years to help plug holes in the budget.
Mamdani says that the state should step up even more. Last week, he called on state lawmakers Wednesday to approve a 2 percent personal income tax increase on the city’s wealthiest residents as well as a hike in the corporate tax rate in a bid to close a multibillion-dollar budget gap. Of note, Hochul and the legislature must approve any tax changes.
While Mamdani is handcuffed in many ways when it comes to raising revenue, raising property taxes is something he can do as part of the annual budget process. Homeowners, meanwhile, just had their assessed values jump 5.6%, which will bring the city an additional $325.8 billion - which is separate of Mamdani's plan.
Mamdani’s own rhetoric about the size and scope of the city’s budget situation has shifted. Earlier this month, just two weeks after describing the city’s $12.6 billion budget deficit as the city’s largest since the Great Recession, https://www.bloomberg.com/news/articles/2026-02-11/wall-street-bonuses-help-shrink-nyc-s-budget-gap-by-5-billion
the hole had actually shrunk by $5 billion, because of higher tax revenue, propelled by personal income tax growth and Wall Street bonuses.
Even threatening to raise property taxes could prove a political lightning rod for Mamdani, after campaigning to reform that system, which has been criticized for overburdening lower- and middle-income residents. The last time the city increased property tax rates was under former Mayor Michael Bloomberg in the early 2000s. -https://www.bloomberg.com/news/articles/2026-02-17/mamdani-plans-to-hike-nyc-property-tax-to-fill-5-billion-hole
Meanwhile last month Mamdani https://www.nyc.gov/mayors-office/news/2026/02/mayor-mamdani-s-prepared-remarks-at-the-2026-joint-legislative-b
NYC is facing a $12.6 billion deficit over the next two years, which he blamed on his predecessor, Mayor Eric Adams, whose administration he says underbudgeted for various expenses such as cash assistance, rental assistance for homeless residents, special education and overtime costs. In FY 2025, NYC took in over $33 billion in property tax revenue.
Mamdani during his campaign promoted progressive reforms to fund proposals such as free public transit, rent stabilization and https://www.theepochtimes.com/us/mamdani-nyc-housing-plan-has-insiders-curious-skeptical-5979421
win over more moderate Democrats.
He called for a 2 percent surcharge on high earners on the campaign trail.
Estimates suggested it could create approximately $4 billion annually to support increased public services and affordability programs, as well as offset costs for broad social investments while not saddling middle- and low-income residents.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 13:20
https://www.zerohedge.com/political/it-begins-mamdani-plans-first-nyc-property-tax-hike-decades-plug-5-billion-hole
It Begins: Mamdani Plans First NYC Property Tax Hike In Decades To Plug $5 Billion Hole
New York City property owners are set to 'enjoy' the first property tax hike in more than two decades as part of a proposed solution by Mayor Zohran Mamdani to fill a roughly $5 billion budget gap, Bloomberg reports.
"He’s put a pretty extreme option on the table, which is a combination of raising property taxes and taking money from reserves and relying on some pretty aggressive revenue projections to boot," said NYC Comptroller Mark Levine.
The pitch, set to be unveiled Tuesday afternoon during Mamdani's preliminary budget proposal, comes one day after Governor Kathy Hochul vowed to kick in another $1.5 billion in additional aid to the city for the current fiscal year and next. Hochul has also committed $510 million for future years to help plug holes in the budget.
Mamdani says that the state should step up even more. Last week, he called on state lawmakers Wednesday to approve a 2 percent personal income tax increase on the city’s wealthiest residents as well as a hike in the corporate tax rate in a bid to close a multibillion-dollar budget gap. Of note, Hochul and the legislature must approve any tax changes.
While Mamdani is handcuffed in many ways when it comes to raising revenue, raising property taxes is something he can do as part of the annual budget process. Homeowners, meanwhile, just had their assessed values jump 5.6%, which will bring the city an additional $325.8 billion - which is separate of Mamdani's plan.
Mamdani’s own rhetoric about the size and scope of the city’s budget situation has shifted. Earlier this month, just two weeks after describing the city’s $12.6 billion budget deficit as the city’s largest since the Great Recession, https://www.bloomberg.com/news/articles/2026-02-11/wall-street-bonuses-help-shrink-nyc-s-budget-gap-by-5-billion
the hole had actually shrunk by $5 billion, because of higher tax revenue, propelled by personal income tax growth and Wall Street bonuses.
Even threatening to raise property taxes could prove a political lightning rod for Mamdani, after campaigning to reform that system, which has been criticized for overburdening lower- and middle-income residents. The last time the city increased property tax rates was under former Mayor Michael Bloomberg in the early 2000s. -https://www.bloomberg.com/news/articles/2026-02-17/mamdani-plans-to-hike-nyc-property-tax-to-fill-5-billion-hole
Meanwhile last month Mamdani https://www.nyc.gov/mayors-office/news/2026/02/mayor-mamdani-s-prepared-remarks-at-the-2026-joint-legislative-b
NYC is facing a $12.6 billion deficit over the next two years, which he blamed on his predecessor, Mayor Eric Adams, whose administration he says underbudgeted for various expenses such as cash assistance, rental assistance for homeless residents, special education and overtime costs. In FY 2025, NYC took in over $33 billion in property tax revenue.
Mamdani during his campaign promoted progressive reforms to fund proposals such as free public transit, rent stabilization and https://www.theepochtimes.com/us/mamdani-nyc-housing-plan-has-insiders-curious-skeptical-5979421
win over more moderate Democrats.
He called for a 2 percent surcharge on high earners on the campaign trail.
Estimates suggested it could create approximately $4 billion annually to support increased public services and affordability programs, as well as offset costs for broad social investments while not saddling middle- and low-income residents.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 13:20
https://www.zerohedge.com/political/it-begins-mamdani-plans-first-nyc-property-tax-hike-decades-plug-5-billion-hole
Anthropic–Pentagon Talks Stall Over AI Guardrails
Anthropic–Pentagon Talks Stall Over AI Guardrails
Contract renewal talks between Anthropic and the Pentagon have stalled over how its Claude system can be used. The AI firm is seeking stricter limits before extending its agreement, according to a person familiar with the private negotiations and https://www.bloomberg.com/news/articles/2026-02-16/pentagon-is-close-to-cutting-ties-with-anthropic-axios-says?srnd=homepage-americas
.
At the heart of the dispute is control.
Anthropic wants firm guardrails to prevent Claude from being used for mass surveillance of Americans or to build weapons that operate without human oversight.
The Defense Department’s position is broader: it wants flexibility to deploy the model so long as its use complies with the law.
The tension reflects a larger debate over how far advanced AI should go in military settings.
Bloomberg https://www.bloomberg.com/news/articles/2026-02-16/pentagon-is-close-to-cutting-ties-with-anthropic-axios-says?srnd=homepage-americas
that Anthropic has tried to distinguish itself as a safety-first AI developer. It created a specialized version, Claude Gov, tailored to U.S. national security work, designed to analyze classified information, interpret intelligence and process cybersecurity data. The company says it aims to serve government clients while staying within its own ethical red lines.
“Anthropic is committed to using frontier AI in support of US national security,” a spokesperson said, describing ongoing discussions with the Defense Department as “productive conversations, in good faith.” The Pentagon, however, struck a firmer tone. “Our nation requires that our partners be willing to help our warfighters win in any fight,” spokesman Sean Parnell said, adding that the relationship is under review and emphasizing troop safety.
Some defense officials have grown wary, viewing reliance on Anthropic as a potential supply-chain vulnerability. The department could ask contractors to certify they are not using Anthropic’s models, according to a senior official—an indication that the disagreement could ripple beyond a single contract.
Rival AI developers are watching closely. Tools from OpenAI, Google and xAI are also being discussed for Pentagon use, with companies working to ensure their systems can operate within legal boundaries. Anthropic secured a two-year Pentagon deal last year involving Claude Gov and enterprise products, and the outcome of its current negotiations could influence how future agreements with other AI providers are structured.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 13:00
https://www.zerohedge.com/markets/anthropic-pentagon-talks-stall-over-ai-guardrails
Anthropic–Pentagon Talks Stall Over AI Guardrails
Contract renewal talks between Anthropic and the Pentagon have stalled over how its Claude system can be used. The AI firm is seeking stricter limits before extending its agreement, according to a person familiar with the private negotiations and https://www.bloomberg.com/news/articles/2026-02-16/pentagon-is-close-to-cutting-ties-with-anthropic-axios-says?srnd=homepage-americas
.
At the heart of the dispute is control.
Anthropic wants firm guardrails to prevent Claude from being used for mass surveillance of Americans or to build weapons that operate without human oversight.
The Defense Department’s position is broader: it wants flexibility to deploy the model so long as its use complies with the law.
The tension reflects a larger debate over how far advanced AI should go in military settings.
Bloomberg https://www.bloomberg.com/news/articles/2026-02-16/pentagon-is-close-to-cutting-ties-with-anthropic-axios-says?srnd=homepage-americas
that Anthropic has tried to distinguish itself as a safety-first AI developer. It created a specialized version, Claude Gov, tailored to U.S. national security work, designed to analyze classified information, interpret intelligence and process cybersecurity data. The company says it aims to serve government clients while staying within its own ethical red lines.
“Anthropic is committed to using frontier AI in support of US national security,” a spokesperson said, describing ongoing discussions with the Defense Department as “productive conversations, in good faith.” The Pentagon, however, struck a firmer tone. “Our nation requires that our partners be willing to help our warfighters win in any fight,” spokesman Sean Parnell said, adding that the relationship is under review and emphasizing troop safety.
Some defense officials have grown wary, viewing reliance on Anthropic as a potential supply-chain vulnerability. The department could ask contractors to certify they are not using Anthropic’s models, according to a senior official—an indication that the disagreement could ripple beyond a single contract.
Rival AI developers are watching closely. Tools from OpenAI, Google and xAI are also being discussed for Pentagon use, with companies working to ensure their systems can operate within legal boundaries. Anthropic secured a two-year Pentagon deal last year involving Claude Gov and enterprise products, and the outcome of its current negotiations could influence how future agreements with other AI providers are structured.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 13:00
https://www.zerohedge.com/markets/anthropic-pentagon-talks-stall-over-ai-guardrails
Bayer Soars After $10.5 Billion Settlement On Current And Future Roundup Cancer Lawsuits
Bayer Soars After $10.5 Billion Settlement On Current And Future Roundup Cancer Lawsuits
Bayer stock jumped the most in three months after the company https://www.businesswire.com/news/home/20260217951897/en/Monsanto-Announces-Roundup-Class-Settlement-Agreement-to-Resolve-Current-and-Future-Claims
a $10.5 billion settlement push to settle current and future cancer lawsuits over its Roundup weedkiller. The news was first reported by Bloomberg.
The German chemical giant proposed a $7.5 billion class-action settlement through cases filed in state court in Missouri designed to resolve Roundup suits that already have been filed and potential claims that could be filed over a 20-year period.
Bayer also announced $3 billion in settlements of existing U.S. cases in which former Roundup users blame the herbicide for causing their non-Hodgkins lymphoma, it reported.
The company has paid about $10 billion to settle most of the Roundup lawsuits that were pending as of 2020, but failed to get a settlement covering future cases. New lawsuits have continued to pour in since then. Plaintiffs have said they developed non-Hodgkin's lymphoma and other forms of cancer due to using Roundup, either at home or on the job.
Roundup, which was acquired by Bayer, is among the most widely used weedkillers in the United States
The class settlement aimed at resolving current and future claims that Roundup weedkiller caused non‑Hodgkin lymphoma is an important addition to its Supreme Court case, Bayer CEO Bill Anderson said on Tuesday.
"We are entering into the settlement because it is an important addition to the case before the Supreme Court, thereby minimising the legal risks as comprehensively as possible," he said. "Both elements are necessary independently of each other and reinforce each other," he added.
Bayer stock surged on news of the settlement.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 12:20
https://www.zerohedge.com/markets/bayer-soars-after-105-billion-settlement-current-and-future-roundup-cancer-lawsuits
Bayer Soars After $10.5 Billion Settlement On Current And Future Roundup Cancer Lawsuits
Bayer stock jumped the most in three months after the company https://www.businesswire.com/news/home/20260217951897/en/Monsanto-Announces-Roundup-Class-Settlement-Agreement-to-Resolve-Current-and-Future-Claims
a $10.5 billion settlement push to settle current and future cancer lawsuits over its Roundup weedkiller. The news was first reported by Bloomberg.
The German chemical giant proposed a $7.5 billion class-action settlement through cases filed in state court in Missouri designed to resolve Roundup suits that already have been filed and potential claims that could be filed over a 20-year period.
Bayer also announced $3 billion in settlements of existing U.S. cases in which former Roundup users blame the herbicide for causing their non-Hodgkins lymphoma, it reported.
The company has paid about $10 billion to settle most of the Roundup lawsuits that were pending as of 2020, but failed to get a settlement covering future cases. New lawsuits have continued to pour in since then. Plaintiffs have said they developed non-Hodgkin's lymphoma and other forms of cancer due to using Roundup, either at home or on the job.
Roundup, which was acquired by Bayer, is among the most widely used weedkillers in the United States
The class settlement aimed at resolving current and future claims that Roundup weedkiller caused non‑Hodgkin lymphoma is an important addition to its Supreme Court case, Bayer CEO Bill Anderson said on Tuesday.
"We are entering into the settlement because it is an important addition to the case before the Supreme Court, thereby minimising the legal risks as comprehensively as possible," he said. "Both elements are necessary independently of each other and reinforce each other," he added.
Bayer stock surged on news of the settlement.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 12:20
https://www.zerohedge.com/markets/bayer-soars-after-105-billion-settlement-current-and-future-roundup-cancer-lawsuits
What Price Will You Pay For What You Need?
What Price Will You Pay For What You Need?
By Michael Every of Rabobank
A Material Shift
It was that 2026 rarity of a genuinely ‘quiet day’ on Monday with the US out for Presidents’ Day and much of Asia already on holiday for Lunar New Year. However, despite China staying out for the rest of the week, things are likely to shift to a higher gear from today onwards.
The RBA minutes this morning, which explained why rates were hiked 25bps, stated “the latest forecasts produced by the staff were materially stronger than those produced in August and November.” One would hope so, but why were those forecasts stronger? Far more useful is the repeated mention of “material shift” – higher. That’s the case in Australia and world-wide; but not in the way the RBA meant it. We are no longer in a world in which RBA references to (and models of) “aggregate demand” and “aggregate supply” have much relevance. Yes, demand exists. Yes, supply does too. But neither are “aggregate”. Both are now very starkly variate.
The IMF just warned Australia that it’s 5% deposit scheme for first-time home buyers will push up housing inflation and should be scrapped – as others warn it’s already too late to do so. The RBA had warned of the same thing months ago too yet now seems surprised it might have shifted their forecasts and Overnight Cash Rate. That’s as the Fed is also set to loosen bank capital requirements to try to encourage more mortgage lending, and at lower rates – though it has to be said that the US bank share of such lending has declined from 60% to 35% since 2003, arguing some reversal could be warranted in the market.
Beyond such traditional macro stories, raw materials are again of supreme importance and, as in the past, linked to national security. Demand is vast; yet supply is limited in terms of natural availability and the ‘unnatural’ outcome of China dominating their processing. There is nothing aggregate about this. You have something or you don’t. A machine minus one key widget won’t work, so is worthless. Equally, a gun minus a bullet renders you defenceless. So, what price will you pay for what you need?
This is linked to AI, which ‘Anthropic in Venezuela’ shows is about national security. Indeed, the EU Parliament just blocked its MEPs from using AI tools over cyber and privacy fears – though these are perhaps not the high priority targets for foreign intelligence services that they think they are. While politics is hardly a synonym for productivity, should the EU military drop AI, it will be left even further behind the US. Should the EU private sector drop AI too, it would only widen a productivity gap between it and the US and China. If Europe still wants in on any front, that only increases the global urgency to get raw materials and electricity flowing at as cheap a price as possible. What’s the correct interest rate for that?
Yet things are not all inflationary: quite the opposite. As China rolls out its latest agentic AI, Qwen 3.5, and Wall Street smashes firms that suddenly may not have a viable business model, a recent summit in India saw experts warn that the country needs to take immediate action to manage the AI threat to the vast number of services sector jobs it’s created. They offer that “more training” can help the country avoid being left with “obsolete skills” – but is that true? The possibilities opened up by AI could arguably see white collar jobs destroyed at a scale and pace that no political economy is prepared for, let alone a stock market. What’s the correct interest rate for that?
These are, in both the literal and the metaphorical sense of the term, material shifts. Central bank thinking is, as usual, struggling to keep up. The Fed’s Barr speaks on AI and the labor market today, and Daly on AI and the economy: they both wrote those speeches themselves, right?
Meanwhile, US talks with Iran continue today against a backdrop of the IRGC carrying out naval exercises in the Strait of Hormuz. It needs to be repeated that the US continues to surge military power into the region daily: it remains to be seen if that will see Tehran bend or not. Oil prices are up around 1.3% this morning as the market starts to get twitchy.
Russia-Ukraine peace talks continue in Geneva, as Lithuania warned against a ‘hollow” Article 5-like guarantee being offered to Ukraine, Finland warned that Russia is reinforcing its nuclear and Arctic assets near its border, the UK press speaks of Europe creating a deterrent with tactical nukes as if this is a cost-free and risk-free exercise, and Ukraine, in the background, reportedly made its fastest battlefield gains in 2.5 years.
Also note an unconfirmed report Russia allowed limited dollar trading for the first time in years. That follows the Bloomberg story last week that Moscow is prepared to offer the US a major economic deal. As noted here many times before, the geopolitical and geoeconomic landscapes are one and the same, and our financial architecture merely sits on top of it. Likewise:
Trump said he’ll make a decision soon on whether to sell the planned $20bn package of arms to Taiwan or not – there will be regional, if not global, consequences either way.
The EU floated that 70% of EVs must be made in there to qualify for state aid, with similar rules for aluminium: that’s a material shift towards either Gaullism or Trumpism. Yet as the Economist claims that ‘Russia’s economy has entered the death zone’, the Ukrainian press reports EU companies are keeping Moscow’s war machine running via their exports to its auto sector.
The Eurogroup president said a new Franco-German-led ‘E6’ format to push ahead with deeper structural reforms will only be “temporary”, as Ireland, which was left out, is pushing back. Does that imply that a vanguard group form new structures and then other EU members can then join at their leisure, or will they have to go through some form of a new ‘accession’ process to qualify for this inner sanctum? That’s another material shift.
Canada’s natural resources minister is going to Poland to promote Canada’s nuclear energy expertise. That’s as the Financial Post notes, 'We need to wake up': Atlantic Canada a microcosm of the problems facing the rest of the country’, and shares ‘David Rosenberg: Memo to Mark Carney: Don’t bring a butter knife to an economic gun fight.’
The same can be said about central bank models.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 11:20
https://www.zerohedge.com/markets/what-price-will-you-pay-what-you-need
What Price Will You Pay For What You Need?
By Michael Every of Rabobank
A Material Shift
It was that 2026 rarity of a genuinely ‘quiet day’ on Monday with the US out for Presidents’ Day and much of Asia already on holiday for Lunar New Year. However, despite China staying out for the rest of the week, things are likely to shift to a higher gear from today onwards.
The RBA minutes this morning, which explained why rates were hiked 25bps, stated “the latest forecasts produced by the staff were materially stronger than those produced in August and November.” One would hope so, but why were those forecasts stronger? Far more useful is the repeated mention of “material shift” – higher. That’s the case in Australia and world-wide; but not in the way the RBA meant it. We are no longer in a world in which RBA references to (and models of) “aggregate demand” and “aggregate supply” have much relevance. Yes, demand exists. Yes, supply does too. But neither are “aggregate”. Both are now very starkly variate.
The IMF just warned Australia that it’s 5% deposit scheme for first-time home buyers will push up housing inflation and should be scrapped – as others warn it’s already too late to do so. The RBA had warned of the same thing months ago too yet now seems surprised it might have shifted their forecasts and Overnight Cash Rate. That’s as the Fed is also set to loosen bank capital requirements to try to encourage more mortgage lending, and at lower rates – though it has to be said that the US bank share of such lending has declined from 60% to 35% since 2003, arguing some reversal could be warranted in the market.
Beyond such traditional macro stories, raw materials are again of supreme importance and, as in the past, linked to national security. Demand is vast; yet supply is limited in terms of natural availability and the ‘unnatural’ outcome of China dominating their processing. There is nothing aggregate about this. You have something or you don’t. A machine minus one key widget won’t work, so is worthless. Equally, a gun minus a bullet renders you defenceless. So, what price will you pay for what you need?
This is linked to AI, which ‘Anthropic in Venezuela’ shows is about national security. Indeed, the EU Parliament just blocked its MEPs from using AI tools over cyber and privacy fears – though these are perhaps not the high priority targets for foreign intelligence services that they think they are. While politics is hardly a synonym for productivity, should the EU military drop AI, it will be left even further behind the US. Should the EU private sector drop AI too, it would only widen a productivity gap between it and the US and China. If Europe still wants in on any front, that only increases the global urgency to get raw materials and electricity flowing at as cheap a price as possible. What’s the correct interest rate for that?
Yet things are not all inflationary: quite the opposite. As China rolls out its latest agentic AI, Qwen 3.5, and Wall Street smashes firms that suddenly may not have a viable business model, a recent summit in India saw experts warn that the country needs to take immediate action to manage the AI threat to the vast number of services sector jobs it’s created. They offer that “more training” can help the country avoid being left with “obsolete skills” – but is that true? The possibilities opened up by AI could arguably see white collar jobs destroyed at a scale and pace that no political economy is prepared for, let alone a stock market. What’s the correct interest rate for that?
These are, in both the literal and the metaphorical sense of the term, material shifts. Central bank thinking is, as usual, struggling to keep up. The Fed’s Barr speaks on AI and the labor market today, and Daly on AI and the economy: they both wrote those speeches themselves, right?
Meanwhile, US talks with Iran continue today against a backdrop of the IRGC carrying out naval exercises in the Strait of Hormuz. It needs to be repeated that the US continues to surge military power into the region daily: it remains to be seen if that will see Tehran bend or not. Oil prices are up around 1.3% this morning as the market starts to get twitchy.
Russia-Ukraine peace talks continue in Geneva, as Lithuania warned against a ‘hollow” Article 5-like guarantee being offered to Ukraine, Finland warned that Russia is reinforcing its nuclear and Arctic assets near its border, the UK press speaks of Europe creating a deterrent with tactical nukes as if this is a cost-free and risk-free exercise, and Ukraine, in the background, reportedly made its fastest battlefield gains in 2.5 years.
Also note an unconfirmed report Russia allowed limited dollar trading for the first time in years. That follows the Bloomberg story last week that Moscow is prepared to offer the US a major economic deal. As noted here many times before, the geopolitical and geoeconomic landscapes are one and the same, and our financial architecture merely sits on top of it. Likewise:
Trump said he’ll make a decision soon on whether to sell the planned $20bn package of arms to Taiwan or not – there will be regional, if not global, consequences either way.
The EU floated that 70% of EVs must be made in there to qualify for state aid, with similar rules for aluminium: that’s a material shift towards either Gaullism or Trumpism. Yet as the Economist claims that ‘Russia’s economy has entered the death zone’, the Ukrainian press reports EU companies are keeping Moscow’s war machine running via their exports to its auto sector.
The Eurogroup president said a new Franco-German-led ‘E6’ format to push ahead with deeper structural reforms will only be “temporary”, as Ireland, which was left out, is pushing back. Does that imply that a vanguard group form new structures and then other EU members can then join at their leisure, or will they have to go through some form of a new ‘accession’ process to qualify for this inner sanctum? That’s another material shift.
Canada’s natural resources minister is going to Poland to promote Canada’s nuclear energy expertise. That’s as the Financial Post notes, 'We need to wake up': Atlantic Canada a microcosm of the problems facing the rest of the country’, and shares ‘David Rosenberg: Memo to Mark Carney: Don’t bring a butter knife to an economic gun fight.’
The same can be said about central bank models.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 11:20
https://www.zerohedge.com/markets/what-price-will-you-pay-what-you-need
Trump Calls In FEMA To Respond To Sewage Disaster In Potomac River
Trump Calls In FEMA To Respond To Sewage Disaster In Potomac River
https://www.theepochtimes.com/us/trump-calls-in-fema-to-respond-to-sewage-disaster-in-potomac-river-5986338?utm_source=partner&utm_campaign=ZeroHedge
President Donald Trump is directing federal emergency teams to respond to a sewage spill on the Potomac River, calling it a “massive ecological disaster” and blaming local leaders for not handling the crisis, which began nearly a month ago.
“There is a massive Ecological Disaster unfolding in the Potomac River as a result of the Gross Mismanagement of Local Democrat Leaders, particularly, Governor Wes Moore, of Maryland,” Trump posted on Truth Social on Feb. 16.
Moore’s office didn’t immediately return a request for comment on Trump’s statement.
On Jan. 19, a section of the Potomac Interceptor sewer line collapsed, causing the failure of a 60-year-old, 72-inch concrete pipeline along the Clara Barton Parkway in Montgomery County, Maryland.
Over 250 million gallons of sewage poured into the Potomac River in one of the largest spills in U.S. history, according to University of Maryland researchers. Water samples collected at the site show high levels of E. coli and Staphylococcus aureus, the bacteria that causes staph infections, researchers reported.
“People coming into contact with the impacted water or land are at risk of becoming infected with these bacteria, which can lead to serious health conditions,” said Dr. Rachel Rosenberg Goldstein, a microbiologist and assistant professor at the university.
Trump said the spill was the “result of incompetent local and state management of essential waste management systems.”
“It is clear local authorities cannot adequately handle this calamity,” Trump stated.
“Therefore, I am directing federal authorities to immediately provide all necessary management, direction, and coordination to protect the Potomac, the water supply in the Capital region, and our treasured National Resources in our Nation’s Capital City.”
Despite state and local leaders not asking for federal assistance, Trump said he “cannot allow incompetent local ‘leadership’ to turn the river in the heart of Washington into a disaster zone.”
The Federal Emergency Management Agency (FEMA), part of the Department of Homeland Security (DHS), will play a key role in coordinating the response, the president stated.
FEMA and DHS are facing a https://www.theepochtimes.com/article/dhs-poised-to-shut-down-5985297
lapse as Democrats in the U.S. Senate demand changes to immigration enforcement.
Crews work to keep raw sewage from flowing into the Potomac River after a pipeline rupture, in Glen Echo, Md., on Jan. 23, 2026. Cliff Owen/AP Photo
According to Virginia’s health department, the utility DC Water is handling repairs to the pipe, while Maryland has regulatory authority over the Potomac River for recreational advisories, water quality monitoring, and issuing bans on shellfish harvesting.
The Virginia Health Department was working with the Maryland departments of Health and the Environment during the crisis.
DC Water has stated that drinking water is not affected by the incident.
The nearest Virginia location using the Potomac River as a primary source of water is the city of Fairfax, with an intake located several miles upstream of where the sewage spill entered the river, according to Virginia.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 10:40
https://www.zerohedge.com/political/trump-calls-fema-respond-sewage-disaster-potomac-river
Trump Calls In FEMA To Respond To Sewage Disaster In Potomac River
https://www.theepochtimes.com/us/trump-calls-in-fema-to-respond-to-sewage-disaster-in-potomac-river-5986338?utm_source=partner&utm_campaign=ZeroHedge
President Donald Trump is directing federal emergency teams to respond to a sewage spill on the Potomac River, calling it a “massive ecological disaster” and blaming local leaders for not handling the crisis, which began nearly a month ago.
“There is a massive Ecological Disaster unfolding in the Potomac River as a result of the Gross Mismanagement of Local Democrat Leaders, particularly, Governor Wes Moore, of Maryland,” Trump posted on Truth Social on Feb. 16.
Moore’s office didn’t immediately return a request for comment on Trump’s statement.
On Jan. 19, a section of the Potomac Interceptor sewer line collapsed, causing the failure of a 60-year-old, 72-inch concrete pipeline along the Clara Barton Parkway in Montgomery County, Maryland.
Over 250 million gallons of sewage poured into the Potomac River in one of the largest spills in U.S. history, according to University of Maryland researchers. Water samples collected at the site show high levels of E. coli and Staphylococcus aureus, the bacteria that causes staph infections, researchers reported.
“People coming into contact with the impacted water or land are at risk of becoming infected with these bacteria, which can lead to serious health conditions,” said Dr. Rachel Rosenberg Goldstein, a microbiologist and assistant professor at the university.
Trump said the spill was the “result of incompetent local and state management of essential waste management systems.”
“It is clear local authorities cannot adequately handle this calamity,” Trump stated.
“Therefore, I am directing federal authorities to immediately provide all necessary management, direction, and coordination to protect the Potomac, the water supply in the Capital region, and our treasured National Resources in our Nation’s Capital City.”
Despite state and local leaders not asking for federal assistance, Trump said he “cannot allow incompetent local ‘leadership’ to turn the river in the heart of Washington into a disaster zone.”
The Federal Emergency Management Agency (FEMA), part of the Department of Homeland Security (DHS), will play a key role in coordinating the response, the president stated.
FEMA and DHS are facing a https://www.theepochtimes.com/article/dhs-poised-to-shut-down-5985297
lapse as Democrats in the U.S. Senate demand changes to immigration enforcement.
Crews work to keep raw sewage from flowing into the Potomac River after a pipeline rupture, in Glen Echo, Md., on Jan. 23, 2026. Cliff Owen/AP Photo
According to Virginia’s health department, the utility DC Water is handling repairs to the pipe, while Maryland has regulatory authority over the Potomac River for recreational advisories, water quality monitoring, and issuing bans on shellfish harvesting.
The Virginia Health Department was working with the Maryland departments of Health and the Environment during the crisis.
DC Water has stated that drinking water is not affected by the incident.
The nearest Virginia location using the Potomac River as a primary source of water is the city of Fairfax, with an intake located several miles upstream of where the sewage spill entered the river, according to Virginia.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 10:40
https://www.zerohedge.com/political/trump-calls-fema-respond-sewage-disaster-potomac-river
Netflix Grants Warner Bros. One Week Waiver To Reopen Paramount Skydance Deal Talks
Netflix Grants Warner Bros. One Week Waiver To Reopen Paramount Skydance Deal Talks
Warner Bros. Discovery said in a press release that it will temporarily reopen talks with Paramount Skydance after Netflix granted a seven-day waiver, allowing WBD to address "deficiencies that remain unresolved and clarify certain terms of PSKY's proposed merger agreement."
"Netflix has provided WBD a limited waiver under the terms of WBD's merger agreement with Netflix, permitting WBD to engage in discussions with Paramount Skydance ("PSKY") (NASDAQ: PSKY) for a seven-day period ending on February 23, 2026, to seek clarity for WBD stockholders and provide PSKY the ability to make its best and final offer," WBD said in the https://ir.wbd.com/news-and-events/financial-news/financial-news-details/2026/Warner-Bros--Discovery-Sets-Special-Meeting-Date-of-March-20-2026-and-Unanimously-Recommends-Shareholders-Vote-FOR-Netflix-Merger-Warner-Bros--Discovery-to-Initiate-Discussions-with-Paramount-Skydance-for-Their-Best-and-Final-Offer/default.aspx
.
It continued, "During this period, WBD will engage with PSKY to discuss the deficiencies that remain unresolved and clarify certain terms of PSKY's proposed merger agreement."
Paramount has been pressing a hostile, shareholder-directed tender offer for WBD, including its cable channels CNN and TNT, at $30 per share (all cash) after losing out to Netflix in a previous bidding war. The months-long takeover battle is over some of the entertainment industry's most important intellectual property, including HBO, Superman, and Harry Potter.
WBD said a senior Paramount representative informed its board that Paramount would pay $31 per share if talks were to reopen.
After the limited waiver period, WBD said, "Netflix retains its matching rights as defined by the merger agreement."
"Throughout the entire process, our sole focus has been on maximizing value and certainty for WBD shareholders," WBD President and CEO David Zaslav said in the release.
Zaslav noted, "Every step of the way, we have provided PSKY with clear direction on the deficiencies in their offers and opportunities to address them. We are engaging with PSKY now to determine whether they can deliver an actionable, binding proposal that provides superior value and certainty for WBD shareholders through their best and final offer."
WBD said its board "continues to unanimously recommend in favor of the Netflix merger" and has set March 20 for a shareholder vote on that deal, https://www.zerohedge.com/markets/netflix-buy-warner-bros-72-billion-deal-hollywood-goes-panic-mode
.
Paramount shares jumped nearly 6% in early trading, while WBD gained about 3%, and Netflix rose slightly.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 09:50
https://www.zerohedge.com/markets/netflix-grants-warner-bros-one-week-waiver-reopen-paramount-skydance-deal-talks
Netflix Grants Warner Bros. One Week Waiver To Reopen Paramount Skydance Deal Talks
Warner Bros. Discovery said in a press release that it will temporarily reopen talks with Paramount Skydance after Netflix granted a seven-day waiver, allowing WBD to address "deficiencies that remain unresolved and clarify certain terms of PSKY's proposed merger agreement."
"Netflix has provided WBD a limited waiver under the terms of WBD's merger agreement with Netflix, permitting WBD to engage in discussions with Paramount Skydance ("PSKY") (NASDAQ: PSKY) for a seven-day period ending on February 23, 2026, to seek clarity for WBD stockholders and provide PSKY the ability to make its best and final offer," WBD said in the https://ir.wbd.com/news-and-events/financial-news/financial-news-details/2026/Warner-Bros--Discovery-Sets-Special-Meeting-Date-of-March-20-2026-and-Unanimously-Recommends-Shareholders-Vote-FOR-Netflix-Merger-Warner-Bros--Discovery-to-Initiate-Discussions-with-Paramount-Skydance-for-Their-Best-and-Final-Offer/default.aspx
.
It continued, "During this period, WBD will engage with PSKY to discuss the deficiencies that remain unresolved and clarify certain terms of PSKY's proposed merger agreement."
Paramount has been pressing a hostile, shareholder-directed tender offer for WBD, including its cable channels CNN and TNT, at $30 per share (all cash) after losing out to Netflix in a previous bidding war. The months-long takeover battle is over some of the entertainment industry's most important intellectual property, including HBO, Superman, and Harry Potter.
WBD said a senior Paramount representative informed its board that Paramount would pay $31 per share if talks were to reopen.
After the limited waiver period, WBD said, "Netflix retains its matching rights as defined by the merger agreement."
"Throughout the entire process, our sole focus has been on maximizing value and certainty for WBD shareholders," WBD President and CEO David Zaslav said in the release.
Zaslav noted, "Every step of the way, we have provided PSKY with clear direction on the deficiencies in their offers and opportunities to address them. We are engaging with PSKY now to determine whether they can deliver an actionable, binding proposal that provides superior value and certainty for WBD shareholders through their best and final offer."
WBD said its board "continues to unanimously recommend in favor of the Netflix merger" and has set March 20 for a shareholder vote on that deal, https://www.zerohedge.com/markets/netflix-buy-warner-bros-72-billion-deal-hollywood-goes-panic-mode
.
Paramount shares jumped nearly 6% in early trading, while WBD gained about 3%, and Netflix rose slightly.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 09:50
https://www.zerohedge.com/markets/netflix-grants-warner-bros-one-week-waiver-reopen-paramount-skydance-deal-talks
Russia Pounded By Biggest Ukrainian Drone Swarm Since January Ahead Of Geneva Talks
Russia Pounded By Biggest Ukrainian Drone Swarm Since January Ahead Of Geneva Talks
Russia's Defense Ministry on Tuesday is reporting an overnight and early morning attack https://www.themoscowtimes.com/2026/02/17/russian-military-reports-largest-wave-of-ukrainian-drone-attacks-since-early-january-a91970
the largest drone assault from Ukraine since early January.
Russian air defenses shot down more than 150 Ukrainian drones in the attack which included hundreds of UAVs sent in total, as officials from both sides are imminently expected meet in Switzerland for another round of peace talks.
According to the ministry, 79 drones were intercepted over the Black Sea and the Sea of Azov, 38 over annexed Crimea, and 18 over the Krasnodar region.
It is clearly among the biggest single wave of cross-border assaults since January 1st - when Moscow said it downed 168 unmanned aircraft in a similar attack.
Russian governor of Sevastopol Mikhail Razvozhayev announced that in Crimea a nine-year-old boy was hospitalized with minor injuries, and that there was significant damage to vehicles, apartment buildings, private homes, and gas pipelines due to the strikes.
Neighboring Krasnodar saw a fire erupt at the Ilsky Oil Refinery due to drone strikes. Ukraine’s military boated of hitting the refinery, as it is owned by the Kuban Oil and Gas Company, which Kiev has highlighted supports Russian military logistics.
Authorities in other regions reported no casualties or significant damage from the overnight attacks - though airports across over a dozen cities imposed temporary flight restrictions as the drone wave unfolded.
Russia’s Defense Ministry later into Tuesday morning said it shot down nearly 30 additional inbound Ukrainian drones.
As for the ongoing peace talks in Geneva, Kremlin Spokesman Dmitry Peskov has told a press briefing not to expect much in terms of anything concrete today.
"I don’t think we should expect any news today because, as you know, work is scheduled to continue tomorrow. We have no plans to make any statements or remarks," he underscored.
Peskov explained on Monday, "This time, the idea is to discuss a broader range of issues, including, in fact, the main ones. The main issues concern both the territories and everything else related to the demands we have put forward."
Russia’s delegation is led by Presidential Aide Vladimir Medinsky. US envoys Steve Witkoff and Jared Kushner will represent the US at the talks, and they are coming off the indirect talks with Iran from earlier the same day, also happening in Geneva.
🇷🇺✈️🇨🇭Flight route of the Russian delegation led by Vladimir Medinsky to Geneva.
The aircraft avoided a direct route over most EU airspace and flew only through Italian airspace. As we noted yesterday, Italy was the most likely option — unlike the openly hostile Baltic states,… https://t.co/zVoY46zO0W
— DD Geopolitics (@DD_Geopolitics) https://twitter.com/DD_Geopolitics/status/2023723306344485043?ref_src=twsrc%5Etfw
As for President Trump's latest assessment, he told reporters aboard Air Force One, "Well, we have big talks." He stated that "It’s going to be very easy. I mean, look, so far, Ukraine better come to the table fast. That’s all I’m telling you."
He tends to go back and forth from month to month chastising either side, and apparently now the public pressure is back on the Zelensky government. Trump has been quieter of late when it comes to demanding that Ukraine quickly hold national elections, despite https://www.zerohedge.com/markets/kremlins-surprise-overture-ready-halt-airstrikes-election-if-zelensky-allows-vote
to cease airstrikes deep inside Ukraine when the vote happens.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 09:40
https://www.zerohedge.com/geopolitical/russia-pounded-biggest-ukrainian-drone-swarm-january-ahead-geneva-talks
Russia Pounded By Biggest Ukrainian Drone Swarm Since January Ahead Of Geneva Talks
Russia's Defense Ministry on Tuesday is reporting an overnight and early morning attack https://www.themoscowtimes.com/2026/02/17/russian-military-reports-largest-wave-of-ukrainian-drone-attacks-since-early-january-a91970
the largest drone assault from Ukraine since early January.
Russian air defenses shot down more than 150 Ukrainian drones in the attack which included hundreds of UAVs sent in total, as officials from both sides are imminently expected meet in Switzerland for another round of peace talks.
According to the ministry, 79 drones were intercepted over the Black Sea and the Sea of Azov, 38 over annexed Crimea, and 18 over the Krasnodar region.
It is clearly among the biggest single wave of cross-border assaults since January 1st - when Moscow said it downed 168 unmanned aircraft in a similar attack.
Russian governor of Sevastopol Mikhail Razvozhayev announced that in Crimea a nine-year-old boy was hospitalized with minor injuries, and that there was significant damage to vehicles, apartment buildings, private homes, and gas pipelines due to the strikes.
Neighboring Krasnodar saw a fire erupt at the Ilsky Oil Refinery due to drone strikes. Ukraine’s military boated of hitting the refinery, as it is owned by the Kuban Oil and Gas Company, which Kiev has highlighted supports Russian military logistics.
Authorities in other regions reported no casualties or significant damage from the overnight attacks - though airports across over a dozen cities imposed temporary flight restrictions as the drone wave unfolded.
Russia’s Defense Ministry later into Tuesday morning said it shot down nearly 30 additional inbound Ukrainian drones.
As for the ongoing peace talks in Geneva, Kremlin Spokesman Dmitry Peskov has told a press briefing not to expect much in terms of anything concrete today.
"I don’t think we should expect any news today because, as you know, work is scheduled to continue tomorrow. We have no plans to make any statements or remarks," he underscored.
Peskov explained on Monday, "This time, the idea is to discuss a broader range of issues, including, in fact, the main ones. The main issues concern both the territories and everything else related to the demands we have put forward."
Russia’s delegation is led by Presidential Aide Vladimir Medinsky. US envoys Steve Witkoff and Jared Kushner will represent the US at the talks, and they are coming off the indirect talks with Iran from earlier the same day, also happening in Geneva.
🇷🇺✈️🇨🇭Flight route of the Russian delegation led by Vladimir Medinsky to Geneva.
The aircraft avoided a direct route over most EU airspace and flew only through Italian airspace. As we noted yesterday, Italy was the most likely option — unlike the openly hostile Baltic states,… https://t.co/zVoY46zO0W
— DD Geopolitics (@DD_Geopolitics) https://twitter.com/DD_Geopolitics/status/2023723306344485043?ref_src=twsrc%5Etfw
As for President Trump's latest assessment, he told reporters aboard Air Force One, "Well, we have big talks." He stated that "It’s going to be very easy. I mean, look, so far, Ukraine better come to the table fast. That’s all I’m telling you."
He tends to go back and forth from month to month chastising either side, and apparently now the public pressure is back on the Zelensky government. Trump has been quieter of late when it comes to demanding that Ukraine quickly hold national elections, despite https://www.zerohedge.com/markets/kremlins-surprise-overture-ready-halt-airstrikes-election-if-zelensky-allows-vote
to cease airstrikes deep inside Ukraine when the vote happens.
https://cms.zerohedge.com/users/tyler-durden
Tue, 02/17/2026 - 09:40
https://www.zerohedge.com/geopolitical/russia-pounded-biggest-ukrainian-drone-swarm-january-ahead-geneva-talks