She’s baaaack! Hot on the heels of President Donald Trump’s continued persecution legal tussles with Democrat operatives in high office, Senator Elizabeth ‘Pocahontas’ Warren (D-MA) is sticking to the progressive playbook of weaponizing state agencies against political opponents by writing to the SEC (Security and Exchanges Commission) encouraging the regulators to open up a case on Tesla/X owner Elon Musk.
Never one to miss an opportunity in further poisoning the already-bitter relationship between conservatives and progressives in DC, Liz – who is a member of the Senate’s Banking Committee – states in the letter that “Tesla’s Board lacks independence from Mr. Musk, who uses his control over the Board for his personal benefits, rather than in the best interest of Tesla’s shareholders” and that said board had “breached their fiduciary duties when awarding Musk an ‘unfathomable’ equity compensation plan worth $55.8 billion.”
That last part was a reference to the legal ruling in January by a Delaware judge (who also, by complete coincidence, happens to be a Democrat) that the aforementioned equity payment was “obscene” and ruled it unlawful. As a result, Elon Musk is planning to up sticks and move his company’s incorporation to the decidedly more entrepreneur-friendly haven of Texas.
With regards to Warren’s letter to the SEC, Musk is in characteristically pugilistic mode when he replied that “Senator Karen’s main economic & tax advisor is SBF’s Dad. I suspect some of this is coming from him.” The individual referred to as “SBF” is Sam Bankman-Fried, the founder of crypto currency FTX and a major donor to Democratic and progressive causes, who was convicted in 2023 of seven counts of wire fraud and money laundering and faces up to 100 years in the gray bar hotel.
This latest front in the Democrats’ ongoing campaign to turn the U.S. constitutional federal republic into a full-fledged banana republic sets up yet another potential skirmish between Musk and the SEC, who have repeatedly clashed in recent years.
Instead of encouraging the SEC to engage in what clearly would be a fishing expedition against Musk, perhaps Sen. Warren – as a member of said Banking Committee – might investigate the ‘irregular’ financial dealings of her erstwhile colleague in the House, former Speaker Nancy Pelosi (D-CA), who, alongside her venture capitalist husband, have made millions in their (ahem) ‘lucky’ investment portfolio of stock options relating to tech companies that Pelosi herself, as a member of Congress, is in charge of regulating and thus has insider information on.
How about it, Liz?
