On Wednesday, the National Review – the preeminent conservative magazine since 1955 — called it: President Donald Trump has done the “impeachable.”
“There is no plausible defense of Trump’s TruthSocial scheme,” declared National Review Senior Editor Charles Cooke. “It is flagrantly corrupt. It is impeachable. Congress should intervene. (It won’t, I know.)” He posted this assertion over his latest article, entitled “Truth Social’s Early-Access Scheme Is Indefensible.”
As he explains, over the weekend, the Trump Media & Technology Group announced the creation of a “real-time feed on the Truth Social website that will give paying institutions early access to certain high-profile posts for between $60,000 and $100,000 per month.” Cooke doesn’t hold back with his assessment of the scheme, writing, “There is no credible defense of this. The only reason that anyone would want priority access to Truth Social is to gain priority access to President Trump’s pronouncements on that platform. And the only reason that anyone would want priority access to President Trump’s pronouncements on that platform is to act on them for pecuniary gain.”
As Cooke elaborates, “Trump often uses Truth Social as the primary forum for his announcements — announcements that include changes to personnel, the imposition or rescission of tariffs, key foreign policy decisions, and more. These announcements are extremely useful to financial institutions, and, in the age of high-speed trading, the faster those financial institutions can obtain them, the more money those financial institutions can make. Facilitating this access is not a byproduct of Truth Social’s API offering; it is its core — perhaps its sole — purpose. Simply put: President Trump is charging Americans a fee — a fee that, in part, goes into his family’s pockets — for the privilege of receiving news about his official actions earlier than those who do not pay.”
According to Cooke, it is “obvious how unequivocally corrupt this setup is. Technically speaking, the beneficiaries will not gain the information they seek directly from Trump himself, but indirectly, via an API (Application Programming Interface) whose output will be processed by a bunch of semi-autonomous servers and acted upon according to a set of predetermined parameters. But the results will be the same as if Trump had personally picked up the phone.”
He continues, “Good traders do not react to the news on the fly; they have plans of action, which are to be implemented if a war starts or ends, if taxes are raised or cut, if the Federal Reserve’s next chairman is expected to be hawkish, dovish, or somewhere in between, and so on. If, instead of using Truth Social as the middleman, President Trump announced that, for a hefty annual charge, he would call a select group of brokers at the stock exchange to inform them of his important decisions, and thereby give them a head start in executing their plans, we would call that what it is: corruption. Why not here?”
Here Cooke concludes in rare agreement with Democratic lawmakers, writing, “Senators Warren and Schiff have described Trump’s plan as ‘an outrageous abuse of the President’s office for his personal benefit that undermines everyday investors and the integrity of our markets, while enriching Wall Street and other wealthy insiders.’ They are correct… It is certainly a grave offense against honesty, transparency, and good government. If it has any self-respect, Congress will respond to the president’s brazen provocation by passing a law that renders his model flatly illegal. And, if that fails to persuade him, it will impeach and remove him from office, the better to drain the swamp.”