Colin Feehan @ColinFeehan

The New Yorker has some concerning reporting in its deep dive on Jared Kushner suggesting that a future Russia/Ukraine peace deal could be tied to potential Russian business deals for Trump, Kushner and Witkoff. ⬇️ ⬇️ ⬇️ newyorker.com/magazine/2026/…

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BREAKING: Trump has made nearly 29,000 securities trades since returning to the White House, more than all members of Congress combined (22,200)—Bloomberg Drain. The. Swamp.

It looks like ICE is freaking out over all of the unqualified, un-vetted, un-fingerprinted desperation hires, so now officials are mass firing everyone that should have never been hired in the first place. wapo.st/3VfSxCd

What DHS OIG found when it did an unannounced inspection of ICE's krome detention center: overcrowded housing units and holding cells, overflowing vats of raw chicken, frozen food out in direct sunlight. oig.dhs.gov/sites/default/…

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New: Russian oligarch Umar Kremlev footed the bill for hundreds of thousands of dollars of wedding expenses at Donald Trump Jr.’s lavish wedding, including renting out a private island and paying for the fireworks show. propub.li/4xTBcxt

“School choice” means few, if any, choices for parents of disabled students. In Florida, home to the nation’s largest voucher programs, we found that more than half of private schools say they do not serve students with any type of disabilities. propublica.org/article/school…

Commerce Secretary Howard Lutnick reported more than $250 million in income in 2025, according to his financial disclosure obtained by the WSJ. Trump’s financial disclosure, released in June, showed more than $2.2 billion in income for 2025.

🚨EXCLUSIVE: GOP Senate candidate @SununuSenator went through the revolving door to get paid huge money helping a medical giant keep selling a product so dangerous to women that the FDA banned it. Sununu is now trying to now win back his old Senate seat. levernews.com/this-senate-fr…

According to The Wall Street Journal, Democratic Senator John Fetterman once canceled a meeting with three paralyzed veterans, saying he wasn’t feeling well, only to show up less than an hour later for a Fox News interview. wsj.com/politics/polic…

Absolutely unbelievable. A federal judge ordered a stop to Trump's plan to overhaul mail-in voting, and according to a whistleblower at the U.S. Postal Service, Trump officials chose to disobey that order and kept working on it anyway. When a court says stop, and millions of votes could be affected, you stop. End of story. And what were they allegedly so determined to keep building? A system that could derail our entire elections, potentially causing millions of Americans to receive their ballots too late or not receive them at all. Ignoring a court order is unacceptable under any circumstances. Doing it while jeopardizing the American people's right to vote goes so far beyond that. Congress needs answers, and we need them NOW. We need to know who authorized this, who knew about it, and why anyone in this Administration thought they had a right to defy the court. If officials knowingly ignored a court order and put Americans' right to vote at risk in the process, there must be real consequences for everyone responsible. nytimes.com/2026/09/01/us/…

To discuss Arsenal's transfer window, I would like to start with this quote from Arteta, shared by @ArtdeRoche on @TheAthletic yesterday. We might never know everything that went down, but it's pretty obvious what Arsenal tried to do this summer.🧵

Pre-tax earnings in the US have hit the highest level since the aftermath of the second world war, while workers’ slice of the pie has sunk to historic lows, fuelling discontent and a widening political backlash. ft.trib.al/orFb7gd

Georgia audited its own data center tax breaks and found that the state gave up $474 million in sales taxes in one year—and got back just $41 million from the industry. At least 38 states have deals like this. (It's not clear whether all that money the state waived was needed to attract the construction: in Georgia's case, by the state's own estimate, 70% of the data center construction would have happened anyway.)

"What did he do to deserve to be murdered, to be left cold, on the ground, dead, my child? What did he do? ... they don't care ... I expect an apology. Why shouldn't we get one?" -- Alex Pretti's mom

We've got a revenue problem, and Republican tax cuts are the reason. From 1980-2000, revenue grew 7.1% per year while spending grew 5.7%. But after the Bush & Trump tax cuts and three Republican recessions, revenue growth was cut nearly in half. cbo.gov/data/budget-ec…

Krugman: "The reality, however, is that U.S. debt would be much lower as a percentage of GDP, and would barely be in the news at all, without the revenue loss from tax cuts enacted by Republican presidents: George W. Bush in the 2000s, then Donald Trump during both of his terms." paulkrugman.substack.com/p/debt-and-tax…

The sheer number of lies from President Trump about Canada – growing again today – is remarkable. Just some fact checks from the last 18 months: - Trump falsely said today that Canada's unemployment rate is "10% and rapidly rising,” though it is 6.4% (under the Canadian method that adds about a percentage point) and has been declining for three months - Trump falsely said today that Canada does 95% of its business with the US, though 72% of Canadian exports went to the US last year - Trump falsely said today that high Canadian agricultural tariffs have caused the entire US trade deficit with Canada, though that deficit is overwhelmingly caused by US imports of cheap Canadian crude and though something like 97% of US ag exports to Canada are tariff-free - Trump has falsely said Canada generally doesn’t “take” US agricultural exports, though Canada is the world’s second-biggest buyer of those exports - Trump has falsely said the Canadian public likes the idea of becoming the 51st state, which the Canadian public overwhelmingly opposes - Trump has falsely said Canada is one of the world’s highest-tariff countries, though it is actually low in WTO global rankings - Trump has falsely said Canada essentially doesn't have a military, though its military has fought with the US in multiple wars and its force size ranks in the upper half of NATO - Trump has falsely said Canada hiked its dairy tariffs during the Biden administration, though they hadn’t changed since Trump’s first presidency - Trump has falsely said the US trade deficit with Canada is “$200 billion,” though it is nowhere close - Trump has falsely said Canada prohibits US banks, though it doesn't and though more than a dozen US banks were operating in Canada at the time he spoke - Trump has falsely said Canada is “constantly surrounded” by Chinese and Russian ships, though that is fiction - Trump has falsely said then-outgoing PM Trudeau was using their trade battle to run again for prime minister, though Trudeau obviously wasn’t running

🦔Delta's CEO said AI will boost profits by 50% by setting a different ticket price for every passenger in real time. The airline uses an AI system called Fetcherr that generates a unique price for each shopping request. Delta told Congress last year it was not using personal data for individualized pricing. Its investor presentation described building toward offers for "you, the individual." Airlines are exempt from FTC pricing oversight. My Take This is what AI does for a company like Delta. It doesn't make your flight better or your bag show up faster. It watches how you shop and figures out the most you'll pay before you close the tab. Consumer Reports found Uber and Lyft charging 42% different prices for the same ride at the same time, and the House Oversight Committee found one case where two people got quoted $76 and $24 for the same trip. Delta is building the airline version of that, and every carrier will follow because the economics are too good to pass up. Walmart told us this week that families are choosing between gas and groceries at $4 a gallon. Delta's answer to those same families is an algorithm that squeezes them for every dollar they have left. Airlines are exempt from FTC pricing rules, state laws are preempted by federal deregulation, and the CEO told Congress one thing while telling investors another. When people ask me where the trillions going into AI actually end up, I think Delta just gave us one of the most honest answers we've gotten. Hedgie🤗

SIX companies alone accounted for $83 BILLION in federal tax breaks in 2025. Microsoft got $18.7 billion. A record for a company in a single year. The previous record was $5.2 billion. Two companies TRIPLED that in a single year. This is rigged by design. Tax the rich.

I've been getting a lot of questions about how billionaires use sports teams to save hundreds of millions of dollars on taxes, so let me explain. Let's use the Lakers as an example. When the transaction closes, Josh Kushner and Bob Iger will start by allocating 90% or more of the purchase price ($12.5 billion) to intangible assets. Kushner and Iger will then amortize these assets over 15 years under Section 197 of the tax code, allowing them to deduct the amortization against team income. But since these deals are typically structured as pass-throughs, the excess losses don't just vanish. Kushner and Iger can use those losses to shield hundreds of millions of dollars in outside personal income, such as capital gains from VC investments, from being taxed. This is what allowed Steve Ballmer to pay $78 million in taxes on $656 million in income in the year he purchased the Clippers for $2 billion. That's 12%. The tax code has been this way for decades, but what makes sports teams unique is that they are not typical businesses. While no one would argue that it is unfair for a regular business to reduce its taxable income as the value of its machinery, vehicles, and computers erode, most of the assets of a sports franchise regenerate automatically. In other words, player contracts can be amortized even though teams just sign new players when old players leave. TV deals can also be amortized even though leagues just negotiate more lucrative deals when their current ones expire. The tax code even allows for franchise and league membership rights to be amortized even though those rights technically never expire. President Trump's One Big Beautiful Bill actually included a provision that would have reduced the amortization deduction to 50% of the purchase price for new acquisitions. But after NFL owners like Robert Kraft, Jimmy Haslam, and Rob Walton lobbied against it, the provision was removed at the last minute. This proposed change would have only impacted new team sales, but current owners care about it because if the existing amortization advantage goes away or gets diminished, it would negatively impact valuations. Think about it this way: If the amortization deduction drops from 90% to 50%, that would cost potential buyers hundreds of millions in tax savings. So to make up for the difference, team valuations would have to fall. This is also why the Lakers sale is so shocking. Walter is giving up billions in potential tax savings over 15 years for a 20% capital gain over two years. That wouldn't make sense...unless Walter is actually being forced to sell to cover the very loans the federal government is currently investigating him for. P.S. Today's newsletter breaks down everything you need to know about the Mark Walter investigation: why the DOJ seized his phone and laptop, how it triggered a fire sale of the Lakers, and whether the Dodgers, Chelsea, or the Cadillac Formula 1 team will be next. I spent the last 24 hours digging into all the details, and I think this is probably one of our best newsletters ever. READ: huddleup.substack.com/p/did-the-sec-…