More Details: FBI Came Across A “Device” Which Contained New Emails As Part Of “Unrelated Investigation”

As cited by CNBC, NBC’s Pete Williams provides some much needed color, and says there doesn’t appear to be that anyone intentionally withheld evidence or emails in the Clinton investigation; they found new emails after coming across a device in the course of an unrelated investigation and while looking at that device, that’s what led them to the new emails. Williams adds that this is not coming out after Russian hacking or from the Podesta leaks.

In other words, the FBI is now probing what is on the device and what are the emails on it.

Which brings up a valid question, as asked by the Washington’s Examiner’s Tim Carney: “what was the “unrelated investigation” that turned up new HRC emails. Any chance it was about taxpayer-backed export finance?

* * *

However the details pan out, it is troubling for Hillary that 10 days before the election, the FBI’s probe has been effectively reopened.

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Watch Hillary Clinton’s First Words After FBI Reopens Email Probe – Live Feed

Hillary is set to take the stage at a rally in Cedar Rapids, Iowa for the first time since the FBI just announced plans to reopen their investigation into her email scandal.  Clinton’s remarks were scheduled to get underway at 1:15 p.m. CT though we suspect she made need a little extra time to prep given recent developments.  All eyes will be focused on whether Hillary simply pretends nothing has happened or if she actually decides to address the “elephant” in the room. 

After appearing in Cedar Rapids, Clinton is scheduled to head to Des Moines for a 4:45 p.m. CT event at Theodore Roosevelt High School though somehow we suspect that appearance may be in jeopardy.

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John Legend Defends Charter Schools from the NAACP’s Unfair Criticisms

John LegendMusician John Legend is taking issue with the NAACP over its recent attempts to undermine charter schools and school choice reforms on grounds that they hurt children of color.

“I was confused and upset by their decision to press pause on the progress in one area of education that’s been a bright spot for many communities of color,” wrote John Legend in an op-ed.

As I reported in August, the NAACP decided to come out against new privately-managed charter schools, which “increase segregation,” its members argued.

Legend’s op-ed aptly summarizes why that view is mistaken:

What’s shortsighted about the NAACP’s decision is that it’s ignoring the many successful charter schools that are delivering results for many communities. In New York City, third grade charter school students outscored students at district schools in math and in English. Charters here are closing the achievement gap between economically disadvantaged Black students and their more affluent white peers.

The NAACP understands that where you live, your skin color, your income level and zip code shouldn’t determine what kind of education you can get in this country but unfortunately, in far too many places, it does.

More than 60 years after Brown v. Board of Education, our schools remain far too segregated by race, language and economic status. I couldn’t agree with you more that we need deliberate integration of our public schools system in nearly every district in the country. The problem is clear but the solution is murkier.

It’s true that charter schools serve a higher percentage of Black and Latino students than traditional public schools do. Sixty percent of charter school students are children of color. Black students make up 27 percent of public charter students while they represent only 15 percent of the student population in non-charter public schools.

It’s a mistake to think that because charter schools are serving more students of color that they’re complicit in the problem. Bias against communities of color goes far beyond which public school parents choose to send their children to. Segregation is the result of decades of discriminatory zoning laws, school funding models tied to property values, gerrymandered school district boundaries, and litigation to preserve the status quo.

Read the full thing here.

Legend’s criticisms echo those of other black leaders who support charter schools and are frustrated with the NAACP.

“The public charter school moratorium put forward at this year’s NAACP convention does a disservice to communities of color,” Shavar Jeffries, president of Democrats for Education Reform, told The Washington Examiner.

No one would claim that all charter schools are well-managed. But they’re often better than the alternatives, especially for disadvantaged students of color. Giving families more choice and control over how and where their children are educated is the moral, practical thing to do.

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Hillary Refuses To Comment On FBI News As She Deplanes In Iowa

With reporters desperate for a soundbite from Hillary, she refused to add fuel to a fire which at this point she has no control over, and as BBC’s Kim Ghattas who covers the Clinton campaign just tweeted, she deplaned her plane in Cedar Rapids, Iowa without a comment.

Bloomberg then adds the following:

  • CLINTON DOESN’T RESPOND TO SHOUTED QUESTIONS ABOUT FBI PROBE
  • NO WIFI ON CLINTON PLANE SLOWS HER RESPONSE TO FBI LETTER: CNN

And this is Hillary refusing to answer reporters now that she is actually faced with a tough question.

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“World’s Most Bearish Hedge Fund” Shuts Emerging Markets Unit After 17% Loss

We had previously dubbed Horseman Capital the world's most bearish hedge fund for one reason: as recently as a few months ago the firm's Global Fund had taken its net equity short position to an unprecedented -100%. Horseman is now in the news once again as it is liquidating an emerging markets focused hedge fund following losses totaling 17% this year and difficulties raising capital, according to a letter sent to investors.

“In light of fund returns and lack of investor interest, the directors of the fund have sadly decided to close the Horseman Emerging Market Fund Ltd.," according to the letter seen by Bloomberg News. A spokesman for the London-based firm confirmed the contents of the letter.

 

"The resulting performance squeeze since February has made holding short positions a near impossibility for many funds and is typical of a true bear market," Burke said in the letter.

 

 

"Returns are customarily destroyed in both long and short funds as the market cycle plays out."

As Bloomberg reports, the fund, which managed $28 million and is led by John-Paul Burke, lagged a 13.8 percent advance in the MSCI Emerging Markets Index through September this year.

Horseman Capital manages $2.4 billion across a number of hedge funds and the firm is joining a growing number of money managers closing down funds in Europe where poor returns, the mounting cost of regulatory compliance and investors’ reluctance to allocate capital has led to more funds shutting than starting since 2015.

About 557 hedge funds have closed in the region since the start of 2015 through September this year, while only 476 have started, according to Eurekahedge data. Investors redeemed about $5.5 billion from hedge funds focused on Europe in the third quarter of the year, the most since they pulled $9.3 billion in the third quarter of 2012, according to a report from data provider eVestment.

However, as CIO Russell Clark noted,

My other observations about fund management has been that investors are pulling out of active strategies and buying passive strategies. There are good reasons for this, as the unpredictable shifts in momentum in the markets have caused active fund management to underperform significantly. However, it feels to me that passive strategies have grown too fast too quickly. I think active fund management is about to have its day in the sun.

 

Given that the Horseman Global fund is short equities and long bonds, that is about as active as you can get. Or in other words, I am getting bullish on bearishness!

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Venezuela Raises Minimum Wage, Public Sector Pay to Quell Protests

The Venezuelan government announced a minimum wage hike of 20 percent effective November 1, going from 22,576 Bolivars to 27,091 Bolivars, as reported by Caracas Chronicles, which cites the unofficial exchange rate at 1,350 Bolivars to the dollar. The official rate is about 10 Bolivars to the dollars. The minimum monthly wage, then, has gone up by $454 officially but only $3.34 in reality. There was also a hike in food subsidies, though one that’s outpaced by rising food prices, and a 20 percent across the board wage hike for public sector workers, who will also see their Christmas bonuses start to be paid early.

“The more coups, the more hikes,” President Nicolas Maduro explained according to Caracas Chronicles. Maduro framed the hikes “as an achievement, and not as a consequence of the wild inflation rates that we’re experiencing thanks to his failed economic model,” wrote Chronicles’ Naky Soto. “It’s no use to have more bolívars if they’re worth less every day.”

The deteriorating economic and political conditions in Venezuela have led to some of the largest anti-government protests since 2014, as well as a new round of political violence perpetrated by pro-government vigilantes against demonstrators. A national strike is scheduled for today. The National Assembly, the opposition-led legislature, in the meantime, has started to push for impeachment proceedings against Maduro, saying there had been “a breakdown of constitutional order and a continued state of coup led from the highest level of government by President Nicolas Maduro” in a resolution passed Sunday. This week, members of the parliament heard from victims of the Venezuelan government. Maduro blamed the U.S., insisting “Obama is leaving and wants to destroy Venezuela first.” National Guard members have had to escort5 opposition lawmakers amid violence from pro-government vigilantes.

Earlier this week, Maduro had a surprise meeting with Pope Francis—the Vatican has indicated it wants to take a more active role in defusing tensions in Venezuela. The Vatican said the pope urged Maduro to open a “sincere and constructive dialogue” over the plight of Venezuelans. Were the pope not so staunchly “anti-capitalist,” he could have pointed out that Venezuela’s situation is not unique. Over the last quarter century, countries around the world saw standards of living and prosperity rise as they replaced authoritarian socialist governments with governments more tolerant of the kinds of free markets that help create, sustain, and spread wealth.

Instead, the Venezuelan government announced a new round of measures inserting the government into commercial processes its own push for over-regulation and centralization crippled in the first place, as protesters ask riot police whether they’ll be killed for being hungry.

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FBI Reopens Investigation on Clinton’s Private Email Server

Hillary ClintonIt’s both a Friday news dump and an October surprise! FBI Director James Comey sent a letter to several members of the House today letting them know that the agency was reopening its investigation into Hillary Clinton’s use of a private server to store emails related to her work as Secretary of State.

When Comey ended his investigation—over whether Clinton and her staff mishandled classified information—he determined that she had been being extremely careless with data but decided not to recommend charges, and the Justice Department agreed.

Today the situation has changed, but it’s way too soon and Comey’s being way too close-lipped to determine what is happening. The letter reads:

In connection with an unrelated case, the FBI has learned of the existence of emails that may be pertinent to the investigation. I am writing to inform you that the investigative team briefed me on this yesterday, and I agreed that the FBI should take appropriate investigative steps designed to allow the investigators to review these emails to determine whether they contain classified information, as well as to assess their importance to our investigation.

Comey concludes he doesn’t know yet whether any of this information is significant and doesn’t know how long it will take to find out. Check out the letter for yourself after the jump.

Jacob Sullum has noted that how Clinton has responded to this scandal has reinforced her reputation for dishonesty. And check out ReasonTV’s hilarious-yet-horrifying supertake of misleading statements by Clinton:

Comey Letter

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WTI Tumbles To $48 Handle After Iraq, Iran Refuse To Freeze Output; OPEC Admits “It’s Getting Complicated”

“It is getting complicated…every day there is a new issue coming up,” one OPEC delegate said this morning as it is clearly becoming harder to keep the smoke and mirrors jawboning of a possible cut/freeze alive in the face of a reality that is very clearly enunciated by Russia’s energy minister, “any output freeze could be offset by a quick recovery in US shale oil output.” In other words, why bother with a freeze at all.. which is exactly what Iran and Iraq just said…

  • IRAQ AND IRAN REFUSE TO FREEZE OUTPUT – SOURCES
  • *IRAQ, IRAN SAY OPEC UNDERESTIMATES THEIR PRODUCTION: DJ
  • *OPEC MTG SAID DEADLOCKED AS IRAQ, IRAN DISPUTE DATA: DJ

The reaction is clear, disappointment.

 

And now that the machines have run $50 stops twice in 2 days, we suspect there is little ammo left to keep the dream alive.

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Paul Ryan Issues Statement On FBI Reopening Of Hillary Clinton Probe

In the chaotic aftermath of the FBI’s announcement that it is reopening its investigation into Hillary Clinton’s server, moments ago House speaker Paul Ryan decided to once again get involved actively in the presidential race, and issued the following statement:

“Yet again, Hillary Clinton has nobody but herself to blame. She was entrusted with some of our nation’s most important secrets, and she betrayed that trust by carelessly mishandling highly classified information. This decision, long overdue, is the result of her reckless use of a private email server, and her refusal to be forthcoming with federal investigators. I renew my call for the Director of National Intelligence to suspend all classified briefings for Secretary Clinton until this matter is fully resolved.”

 

And Donald Trump wasted not time at all to chime in too, saying the FBI news shows the system may not be “rigged” and that the FBI probe is “bigger than watergate.”

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A Presidency From Hell?

Submitted by Patrick Buchanan via Buchanan.org,

Should Donald Trump surge from behind to win, he would likely bring in with him both houses of Congress.

Much of his agenda — tax cuts, deregulation, border security, deportation of criminals here illegally, repeal of Obamacare, appointing justices like Scalia, unleashing the energy industry — could be readily enacted.

On new trade treaties with China and Mexico, Trump might need economic nationalists in Bernie Sanders’ party to stand with him, as free-trade Republicans stood by their K-Street contributors.

Still, compatible agendas and GOP self-interest could transcend personal animosities and make for a successful four years.

But consider what a Hillary Clinton presidency would be like.

She would enter office as the least-admired president in history, without a vision or a mandate. She would take office with two-thirds of the nation believing she is untruthful and untrustworthy.

Reports of poor health and lack of stamina may be exaggerated. Yet she moves like a woman her age. Unlike Ronald Reagan, her husband, Bill, and President Obama, she is not a natural political athlete and lacks the personal and rhetorical skills to move people to action.

She makes few mistakes as a debater, but she is often shrill — when she is not boring. Trump is right: Hillary Clinton is tough as a $2 steak. But save for those close to her, she appears not to be a terribly likable person.

Still, such attributes, or the lack of them, do not assure a failed presidency. James Polk, no charmer, was a one-term president, but a great one, victorious in the Mexican War, annexing California and the Southwest, negotiating a fair division of the Oregon territory with the British.

Yet the hostility Clinton would face the day she takes office would almost seem to ensure four years of pure hell.

The reason: her credibility, or rather her transparent lack of it.

Consider.

Because the tapes revealed he did not tell the full truth about when he learned about Watergate, Richard Nixon was forced to resign.

 

In the Iran-Contra affair, Reagan faced potential impeachment charges, until ex-security adviser John Poindexter testified that Reagan told the truth when he said he had not known of the secret transfer of funds to the Nicaraguan Contras.

 

Bill Clinton was impeached — for lying.

White House scandals, as Nixon said in Watergate, are almost always rooted in mendacity — not the misdeed, but the cover-up, the lies, the perjury, the obstruction of justice that follow.

And here Hillary Clinton seems to have an almost insoluble problem.

She has testified for hours to FBI agents investigating why and how her server was set up and whether secret information passed through it.

Forty times during her FBI interrogation, Clinton said she could not or did not recall. This writer has friends who went to prison for telling a grand jury, “I can’t recall.”

After studying her testimony and the contents of her emails, FBI Director James Comey virtually accused Clinton of lying.

Moreover, thousands of emails were erased from her server, even after she had reportedly been sent a subpoena from Congress to retain them.

During her first two years as secretary of state, half of her outside visitors were contributors to the Clinton Foundation.

Yet there was not a single quid pro quo, Clinton tells us.

Yesterday’s newspapers exploded with reports of how Bill Clinton aide Doug Band raised money for the Clinton Foundation, and then hit up the same corporate contributors to pay huge fees for Bill’s speeches.

What were the corporations buying if not influence? What were the foreign contributors buying, if not influence with an ex-president, and a secretary of state and possible future president?

Did none of the big donors receive any official favors?

“There’s a lot of smoke and there’s no fire,” says Hillary Clinton.

Perhaps, but there seems to be more smoke every day.

If once or twice in her hours of testimony to the FBI, grand jury or before Congress, Clinton were proven to have lied, her Justice Department would be obligated to name a special prosecutor, as was Nixon’s.

And, with the election over, the investigative reporters of the adversary press, Pulitzers beckoning, would be cut loose to go after her.

The Republican House is already gearing up for investigations that could last deep into Clinton’s first term.

There is a vast trove of public and sworn testimony from Hillary, about the server, the emails, the erasures, the Clinton Foundation. Now, thanks to WikiLeaks, there are tens of thousands of emails to sift through, and perhaps tens of thousands more to come.

What are the odds that not one contains information that contradicts her sworn testimony? Cong. Jim Jordan contends that Clinton may already have perjured herself.

And as the full-court press would begin with her inauguration, Clinton would have to deal with the Syrians, Russians, Taliban, North Koreans and Xi Jinping in the South China Sea — and with Bill Clinton wandering around the White House with nothing to do.

This election is not over. But if Hillary Clinton wins, a truly hellish presidency could await her, and us.

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