TechGods: The New Code

TechGods went from bit players in the political influence game to Masters of the PEUniverse.  Private equity underwriters (PEU) had been the billionaire influencers driving government policy under Red and Blue political administrations over the last 25 years.  

Senior TechGods got one if their own installed as Vice President, Junior TechGod and relatively new PEU (Narya Capital) J.D. Vance.  

Vance has the personality of a seasoned TechGod apprentice, i.e. he talks like a machine, moves like a robot butler and wears makeup like most of the men and women in the Trump II White House.  Makeup cannot cover a hollow heart and his Thiel programmed brain.

TechGods have been stealing intellectual property, a la China, for years.  They openly admit it.  I believe that is called criminal intent.  

There's a new push from TechGods.  It's called "Code is Law."  The phrase is inane in and of itself.  A criminal can write or use code to steal, defame, defraud, purloin, sexually predate or harass, incite violence, facilitate the movement of drugs, stolen funds and/or humans being illegally trafficked.  

"Code is Law" is merely a front for "TechGods are Law."  Code already spies widely.  It steals wages and mileage reimbursement from workers.  

It took people's bank accounts in the horrific case of Synapse, a fintech that marketed those accounts as "having FDIC coverage."   TechGods walked away from Synapse's corpse, only to set up a Washington, D.C. office to ensure true accountability remained elusive.  

Fintechs claim to have automated risk management to the point nobody checks anything.  When the code falls apart and the TechGods walk away, all the King's horses asses and all of his henchmen will gather at the Executive Branch for some fine dining and Cabinet level jousting.  There are no financial cops on the beat.  They've all been dismissed.

Big financial houses responsible for due diligence have fallen prey to fintech scammers.  First Brands fraud smacked Jeffries.  Carriox Capital thumped BlackRock and BNP Paribas for over $550 million.  

Trump II opened your 401(k) to such investments, private equity, private credit and crypto.  Many have fallen to the temptation to garner outsized returns.  Nobody warned us those outsized returns were already baked into the product by enterprising scammers.  

The public was promised due diligence and investment grade quality.  More lies from fintechs and TechGods.  They will get theirs, even if it is at your expense.

Politicians Red and Blue love PEU and their new TechGod/CryptoBro brethren.  Increasingly, more are one.  The petulant, greedy lot needs to be tossed out and taxed mightily.  

BlackRock's Private Credit Arm Got Tricked in Massive Fraud

Carriox Capital conned HPS Investment Partners, the private credit arm of BlackRock, and BNP Paribas for $553 million.  Carriox ditched its website, an understandable move but some of its promotional slides remain available on World Telemedia.  Early on Carriox sold itself as "relief from credit risk" when it was the epitome of credit risk.    

The office address for Carriox in their slide deck is a Lincoln Park Studio apartment:

The New York state entity search showed three companies with Carriox in the name.  Two had a Long Island address while the other showed Queens.  

Carriox had a due diligence slide, but none of that happened in that studio walkup:

"Due Diligence" was in reality "Do Shill-igence."

There are other places within BlackRock where money is flying around.  CEO Larry Fink is having his well deserved sphincter moment and investors would be wise to re-evaluate any investments in private equity, private credit and crypto.

AI should be avoided in its entirety, for use or investment.  That is if you want to keep your mental faculties about you.  

If the pros can bomb this badly, do you really need their help?  It's a question worth asking.

Update 10-31-25:  My wise friend wrote:

You need to carry oxygen when you go through the portfolios of private capital car wrecks. No one wants to search this junkyard. But hey, let's garage them in the 401(k)s of the M - ASSES! 

Let me correct you, Marc Rowan is a suspect! The only letters he should be writing are to the parole board 

I am not sure the private credit investors will get nervous with Paul Atkins and the banking regulators told to look the other way with the current crop of thieves in the administration. Maybe if we brought back Bill Black or Neil Borofsky. 

But we have and have had an economy expanding on fraud and all the beneficiaries KNOW it can only continue if you have the King of Fraudsters ruling with his mighty scepter (his middle finger). 

Both sides are controlled by the same fraudsters.  Trump's mendacity and corruption is the sinkhole for all their pilfering with the people picking up the tab again. 

Thank you for chronicling the misallocation of everything. Happy Halloween! The ghouls are everywhere

His words were in response to this message:

Carriox Capital was a con from beginning to end..... 

Marc Rowan (Apollo) and his "investment grade" quote regarding private credit was suspect at the time, even more so now. BlackRock got taken!!!! 

Once the private credit investors get nervous, crypto should follow. 

Trump's enforcement regime is more interested in licking their boss' ball sack and flying around the country for entertainment on the taxpayers dime. 

Trump's arrogance and incompetence will engender rage once the people gain an understanding of the depths of his malfeasance and the sheer idiocy of his attendants.

 One female CEO had a disappointing interaction with ChatGPT's fake male executives in suits:

Yes, workslop....

DJT's Devin Nunes Loves Cayman SPACs

Former Red Team Congressman Devin Nunes earned $47.6 million as Chairman, CEO and President of Trump Media and Technology Group (ticker symbol: DJT) in 2024.  2025 has seen Nunes appointed to the boards of three different SPACs, all incorporated in The Cayman Islands. (not a good look for the MAGA crowd).

Trump Media's latest proxy statement states the following regarding Nunes: 

Devin G. Nunes, 51, TMTG’s Chief Executive Officer and a Director since 2022 and Chairman since April 1, 2024, previously served in the U.S. House of Representatives from 2003 to 2022. He was the Republican leader and former Chairman of the House Permanent Select Committee on Intelligence (“HPSCI”), a senior Republican on the Ways and Means Committee, and the Republican leader of the Ways and Means Health Subcommittee. Mr. Nunes was a vital contributor to the 2017 tax system overhaul, authoring a key provision to allow same-year expensing of all business investments for entrepreneurs and businesses. He also championed telemedicine to improve healthcare in underserved, rural areas. In his role on HPSCI, Mr. Nunes spent extensive time overseas working with U.S. military personnel, Central Intelligence Agency officials, and world leaders while promoting freedom and democratic values around the globe. During his time in Congress, many regarded Mr. Nunes as the House of Representatives’ preeminent investigator of government malfeasance and corruption; he was awarded the Presidential Medal of Freedom, America’s highest civilian honor, in 2021. Mr. Nunes was appointed to the President’s Intelligence Advisory Board and has served as its Chair since February 2025. Mr. Nunes graduated from Cal Poly San Luis Obispo, where he received a bachelor’s degree in agricultural business and a master’s degree in agriculture. He is the author of “Restoring the Republic” and “Countdown to Socialism,” and was an early and prominent critic of big tech censorship.

Nunes spoke recently with a podcaster regarding Trump Media and one of the SPACs.

Surely the preeminent investigator of malfeasance and corruption can get his former colleagues to take on the big tech monopolies.  That is if his comment is anything other than a throwaway line.

It could've been a lead in comment before the hard sell:

Red Check....check

The opportunities are not only limitless...we don't even know what they're going to be!  Wow!!!!!  This second tier TechGod and first tier political hack just bowled me over with schmooozeee.

But what about the three Cayman Islands incorporations?  Doesn't that work against a MAGA priority to produce jobs for Americans?  The proxy statement included:

We paid $25,620 in legal fees towards (TMTG's Chief Technology Officer) Mr. Novachki’s  permanent residency application.

And that application was advanced by a fellow Red Team Congressman.  

Vladmir Novachki, the Macedonian whiz kid, has accumulated 650,000 shares in DJT in a few short years.

It appears Devin Nunes is using his knowledge of malfeasance and corruption to undertake, well malfeasance and corruption.  SPACs are generally bad for public investors as they steer excessive benefits to insiders.  

The interview closed with several hedges for a company boldly going into crypto:

Politicians Red and Blue love PEU and their new TechGod/CryptoBro brethren.  Increasingly, more are one.  

Politics is an insufficient way to explain our world, given its ever shifting sands, serial mistruths and mind numbing double standards. It's sad that so many are so talented in a profession that debases and debauches its very foundation.

Update:  Possible Trump Fed nominee James Fishback went after companies employing highly skilled foreign workers, like DJT's CTO.  

Gomer Rubs It In

Just when you thought Congress might be growing a spinal disc in a shuttered NIH lab, Red Team Congressman James Comer declared disclosure equals ethics.  My wise friend said this of Comer: 

It's a legitimate question and Comer doesn't give a flip because there is no way that you're ever going to find the sources of funds in crypto land to LLCs in various tax jurisdictions with business activity invoicing and expensing various cryptocurrencies.  You will never find it so stop jacking with the American people and just tell the news anchor that it's OK by you. Maybe we should knock down the White House and just make it a latrine because they're pissing on everyone

Politicians Red and Blue love PEU (private equity underwriters) and their new TechGod/CryptoBros brethren.  Increasingly, more are one and their sons shall be far richer than their fathers.

There are plenty of checks given to Congress which they use to increase their personal fund balances.  Otherwise it's a lickspittle, foot rubbing, cankle massaging crew of millionaires aiming to further enrich billionaires.

Politics is an insufficient way to explain our world, given its ever shifting sands, serial mistruths and mind numbing double standards.  It's sad that so many are so talented in a profession that debases and debauches its very foundation.

The foundation of democracy should be more than Bronx Colors Nutmeg WPF06 and a spineless Roundtable.

These people are not pouring money into coffers of the Trump family business because of the brothers’ acumen. They are doing it because they want freedom from legal constraints and impunity that only the president can deliver. -- Kathleen Clark, law professor at Washington University

Gomer goes to ground in the fealty position....

Trump Media to Offer Predilection Markets

Trump II, the digital Caligula, found another way to separate the little people from their money.  Followers can soon make losing bets on Trump II's antisocial media site.

"The House" controls the odds and that's not the little people facing eviction after forking over their hard earned money.  Trump, a longtime financial parasite, opened the door of his platform for Cryptobros and Red Team oriented TechGods to usurp your personal funds.

Trump's predilection markets will compete with Polymarket, where 85% of wallets are losers and a mere 15% winners (mostly whales, big betters with deep pockets and deep conviction).  

In light of that fact check out this blather from Truth Social CEO Devin Nunes:

For too long, global elites have closely controlled these markets - with Truth Predict, we're democratizing information and empowering everyday Americans to harness the wisdom of the crowd, turning free speech into actionable foresight."

With Trump Predilect one can enjoy such bets as "When will the rest of the White House come down?"  "Which Medical School will award Tylenol Trump an honorary medical degree?" and "Will pictures of Trump and Epstein with topless underage girls ever be released?"

I offer a few potential questions in the image above, but I'm pretty sure they would not make the cut.  For larks, I'll add "How many hours has Treasury Chief and former hedge fund giant Scott Bessent spent on a tractor working his soybean crops?"

Social media sites are about manipulation, addiction and abuse.  Cryptocurrencies are the air you can't breathe.  They have no substance and are a pure exercise of faith in something earthly and illicit.  Prediction markets are heavily weighted house bets, designed to separate you from your money, not build knowledge.  

Politicians Red and Blue love PEU (private equity underwriters) and their new TechGod/CryptoBro brethren.  Increasingly, more are one.  And for that, we pay and pay and pay.....

Update 10-29-25:  Just when you thought Congress might be growing a spinal disc in a shuttered federal NIH lab:

A Red Teamer offers disclosure as ethics.  What a Gomer....

The SEC filing on this matter appeared today.

Trump Usurps Reagan

Trump II usurped yet another Red Team member, this one posthumously.  President Ronald Reagan believed in free trade and the political Red Team followed this mantra for decades.  The cheap goods "dollar extender" line was sold to Americans while industry leaders and private equity underwriters (PEU) shifted jobs to China and other Asian countries.  

I have seen so many people -- particularly those in their 50s - 70s -- taken apart by what has happened in their industry as greed has hollowed out the economy. These are people took pride in their jobs and held themselves to this invisible standard that we all just took for granted, but is being wiped out.

Fifteen years later a different kind of wiping out is occurring.  Health insurance costs more and more while covering less and less.  Technology is a black hole for anyone needing a job or desiring real human relationship.  

Trump II wants the U.S. to become like Argentina and is applying the same economic mojo as Javier Milei.  It's not going well for the people of Argentina, just as it is not going well here at home.  

The few factories being built are high tech production lines with few human workers.  These projects come with massive economic subsidies and tax abatements so investors can meet their ROI hurdle rates.

Trump is taking everything apart by subsuming and incorporating it into his personal sphere.  The initial attraction is like a wiggling worm on a hook.  The target (fish) thinks it is going to get a treat.  Yank!  Out of the water and unable to breathe.  It takes no time for the life force to dissipate.  

Ronald Reagan is simply the latest to be usurped by Trump II.  A whole Congress won't do a BLANKING thing without his formal nod.  

Of course, it is easier to defile the dead, just as it is easier to defile the economically fragile and underage girls.  Usurp and defile, that is the essence of Trump II, his PEU legend and TechGod supporters.  

Together they will rule the world and the world will rue the day they made any compact with these parasitic, pathetic excuses for human beings.  They are soulless human doings, repeating at scale the scams (AI, social media, crypto and other soul destroying addiction applications) that fill their pocketbooks while harming their brothers and sisters in humanity.

Don Jr.'s Unusual Machines Has Same Roots as Bad Bunny

It took less than a year after Don Jr. joined the Unusual Machines advisory board for the firm to land a Pentagon contract.

An Unusual Machines SEC filing from April 2024 stated:

the Company as it currently exists as a corporation organized under the laws of the government of Puerto Rico is sometimes referred to as “UMAC–Puerto Rico"

 It has since reorganized in Nevada.  

The 2026 Super Bowl features Puerto Rican musical star Bad Bunny.  Both Bad Bunny and Unusual Machines have had meteoric rises from their modest beginnings.  In Trumpworld one is glorified and the other vilified.  

Politicians Red & Blue love PEU and their new TechGod brethren. Increasingly, more are one and their sons are slated for wealth far greater than their fathers. It's a grand time to be in charge for the taking is unfettered.

Politics is an insufficient way to explain our world, given its ever shifting sands, serial mistruths and mind numbing double standards. 

Don Jr.'s attachment to so many ventures monetizing political connections are grandiose and grotesque, not only in their conception, but in their ceaseless demolition and obliteration of ethical norms.  Lord, help us all.

"Brain Breaking" PEU/TechGod/CryptoBro News

Trump II, the digital Caligula, announced a crackdown on drug trafficking while he simultaneously pardoned a CryptoBro who facilitated the financing of such drug deals.

It gets better.  A United Arab Emirates SWF affiliate recently invested $2 billion in Binance.  The currency for the deal was not dollars, the dirham or widely used cryptocurrency.  It was the yet to be issued stablecoin from World Liberty Financial, where Trump II is Co-founder Emeritus.  

The very small print on WLFI's website states as of today:

DT Marks DEFI LLC, an entity affiliated with Donald J. Trump and certain of his family members, owns approximately 38% of the equity interests in WLF Holdco LLC, which holds the only membership interest in World Liberty Financial, Inc., a Delaware non-stock corporation and developer of the WLF protocol and operates the WLF governance platform. 

WLF Holdco LLC holds all of the rights to net protocol revenues from the WLF protocol (other than net proceeds from the sale of $WLFI tokens) pursuant to the terms of agreements with World Liberty Financial, Inc. 

None of Donald J. Trump, his family members or any director, officer or employee of Trump Organization or of DT Marks LLC is an officer, director or employee of, WLF Holdco LLC or World Liberty Financial, Inc. 

DT Marks DEFI LLC along with certain family members of Donald J. Trump also holds 22.5 billion $WLFI tokens, and DT Marks DEFI LLC is entitled to receive fees from World Liberty Financial, Inc. pursuant to a service agreement, equal to 75% of $WLFI token sale proceeds after deduction of agreed reserves, expenses and other amounts. 

Any references to or quotes or imagery attributed to or associated with Donald J. Trump or his family members should not be construed as an endorsement or representation or warranty with respect to any product or service offering. 

$WLFI tokens and use of the WLF protocol and governance platform are initially offered and sold solely by World Liberty Financial, Inc. or its affiliates. 

WLF Holdco LLC, DT Marks DEFI LLC, World Liberty Financial, Inc., the WLF protocol, the WLF governance platform and $WLFI tokens are not political or associated with any political campaign.

And that is today's brain breaking Trump II/PEU/TechGod/CryptoBro news.  

The PeepHoles Money

The U.S. Government has become a pass through entity for the enrichment of Trump II, the digital Caligula.  The gilded White House renovation-ballroom addition ballooned from $200 million to $250 million and then to $300 million.  Did Trump hire an auctioneer?  Do I hear $350 million, $350 million, $350 million...

The Blue Team Senator from Pennsylvania referred to this as small stuff.  Trump II may use his $230 million restitution/prostitution payment from the "Just Us" Department to fund his East Wing redo and Ballroom addition.  Then again, he may not.  

Trump II could use some of his family's over $1 billion in  2025 profits from crypto ventures, which means he needs tax deductions.  How might a $230 million "taxpayer funded" pass through donation help relieve that tax burden?  Surely he has some fine art he can donate to the new wing and ballroom. That's another billionaire tax dodge.

Trump already has a $400 million plane lined up courtesy of the United States military.  The government has become a "pass through entity" for the personal enrichment of Trump II, courtesy of increasingly indebted citizens.  Trump added $1 trillion to the U.S. deficit in just over two months.

Dealmakers earn deal fees, directly or indirectly.  Every American must do their part to ensure Trump II reaches his goal of over $200 billion in net worth by January 2029.  Hell's gold card comes with a very hefty price.  Billionaires like Trump never pay.  They collect.  So, it's our toll to bear, especially as "the process is fluid."  

Army Secretary Knows His PEUs

Semafor reported:

The US Army has turned to private equity to fund an infrastructure overhaul. Two top White House officials met Wall Street investors last week, part of a Trump administration effort to enlist the $13 trillion private capital industry into public financing. 

The army secretary told the Financial Times that he wanted $150 billion in capital expenditure over the next decade, but only had a budget of $15 billion, so needed outside investment. Military spending is growing across the West, and private firms are benefiting.

Mint reported:

The US Army has invited major private equity groups, including Apollo, Carlyle, KKR, and Cerberus, to pitch strategic projects

Secretary of the Army Dan Driscoll is also Acting Director of the Bureau of Alcohol, Tobacco, Firearms & Explosives.  Last week he crudely informed the Army that their future is in silicon and software.

Driscoll worked as a private equity underwriter (PEU).  Firms include Flex Capital where he was Chief Operating Officer:  Flex Capital counts a number of PEU Legends and TechGods as limited partners.

Politicians Red and Blue love PEU and their new TechGod brethren.  Increasingly, more are one.

Ingraham Has PEU Heart & Brain

Laura Ingraham sold an equity stake in her Ingraham Media Group in 2014, according to an SEC filing.  At the time Ingraham had 6 investors.  There have been no follow up filings for this company but there have been several news reports.

The Wrap reported in 2017:

The CEO of conservative pundit Laura Ingraham’s website, LifeZette, has made employment difficult for female staffers by constantly referring to his desire for sexual activities, according to a recent story by The Daily Beast. 

Citing seven sources that have worked for LifeZette, the Beast on Thursday reported that co-founder and CEO Peter Anthony often makes crude remarks “within earshot of those female staffers.” Anthony runs day-to-day operations for the site. 

A former IT staffer told the Beast that he remembers Anthony “talking about other women’s boobs, butts… how he would desire sexual activities with [female colleagues] and stuff like that… All kinds of inappropriate talk about women in the office.”

Six of the seven sources spoke on the condition of anonymity, because they feared retaliation for speaking out.

Ingraham went on to join Fox News, legendary for its sexual harassment and abuse of female staffers, and become a strong supporter of Donald Trump, another legendary sexual predator.  

A former Ingraham employee filed a lawsuit in 2018:

Former executive assistant to Laura Ingraham, Karolina Wilson, filed a complaint today in the Superior Court of the District of Columbia alleging discrimination and retaliation against Ingraham and her company, Ingraham Media Group, known as LifeZette. 

Ingraham and LifeZette fired Ms. Wilson within one day of her return from pregnancy-related leave, treated her adversely after learning of her pregnancy, prohibited her from taking more than three weeks of full maternity leave, terminated her health insurance coverage while she was on leave without informing her of the change, and failed to provide her a place to express breast milk when she returned. Due to discrimination and retaliation, 

Ms. Wilson lost her income and health insurance at the exact moment she needed it most, depriving her of health insurance within a month of her first-born child and her family’s primary income within three months of adding a new member.

Lifezette's reviews on Glassdoor are mostly excoriating.  Her overworking staff is worthy of a venture capitalist or private equity underwriter (PEU).  The stiffing of freelancers and vendors has a Trump like feel.  Ingraham has degrees from Dartmouth and the University of Virginia (law) so she has the intellectual horsepower to follow basic employment law.  

A prospective Lifezette employee shared:

I interviewed with two men who seemed enthusiastic about my work. They asked me to do a "try out" piece and said they'd pay me quite well for it. I wrote the piece - they told me to make it fit their political alignment. I did so as much as I could without sacrificing accuracy. I didn't hear back from them for awhile. I check the site, and lo and behold, my piece has top billing under the byline of one of the interviewers! I brought it to his attention and he put it under my name. They then asked me to do another test piece, which like a fool, I did (thinking if nothing else, they'll pay me for these pieces!) Sure enough, they never paid me and stopped responding to my emails.

My wise friend wrote:

I didn't realize Laura Ingraham worked at Scavenging Ops (a cut on Skadden Arps). It fits her high and mighty demeanor, proclaiming righteousness on every subject to denounce and EXORCISE LIBTARDS even though she stews in a conflict of interest.   Hypocrisy is a skill you learn...at some point flies will pour out of her mouth because she's dead inside.

One employee noted this nearly a decade ago: 

The company has no integrity or culture. It's quite clear Laura Ingraham and affiliates are out to make some quick, clickable money. The company doesn't invest in its employees: should you mess up, you will not be offered no real constructive advice to move on, but instead will be fired. 

You will be expected to work nights, and weekends. The work will not be fulfilling. The entire operations runs off of the premise of hiring younger professionals that are unfortunately being used for their naivety and ability to pull all nighters, over and over again. 

Ingraham is impossible to work for, and her word is god: you will have no decision rights or support. Your paychecks will be late. The contractor's paychecks will be late.

Ingraham was ahead of her time, going further than the "996 schedule" loved by TechGods (12 hour days for six days work week).

Big MAGA money is headed her way with her in at 1789 Capital and partner Don Jr.  Ingraham is a new board member for Cayman Islands incorporated Colombier Acquistion Corp III.  She will received stock and other compensation for her board and committee (audit, compensation, nominating and corporate governance) work as she "Makes the Caymans Great Again."

Ingraham can not only be on her evening Fox News show, Laura can be in commercials selling the plethora of MAGA investment opportunities in which she has a direct and indirect financial interest.  Churn, baby, churn...

The Billionaire Compact for Education

Face the Nation cited one private equity underwriter (PEU) behind Trump II's assault on higher eduction:

MARGARET BRENNAN: Professor Seidman, in terms of where the Trump administration's compact came from, there were a lot of influences. But one of them, according to the man himself, is billionaire Mark Rowan, the CEO of Apollo Global Management. And he said he helped write the compact because "without government involvement, reform at universities will be difficult," he argues. He says there have been "government mandates" on things like "diversity, on discrimination and student discipline," so why view these at any different? 

Why is he wrong? 

JERI SEIDMAN (Professor, University of Virginia McIntire School of Commerce):: We were talking about academic freedom. And I think in our ability to search for the truth in research, we also have responsibilities in the classroom that are different than you would experience in a corporate setting. And so, I read the compact differently than he does. I think the thing that I struggle with the most about the compact is the idea that it rewards loyalty as opposed to focuses on advancement of the truth. 

 As a cancer survivor, I want federal research funds to go to the universities and the professors who have the best ideas to cure cancer. That's the way to advance knowledge. And academics, that's really – we are truth seekers. The compact says, you know, truth seeking is a core foundation of institutions of higher education. And I completely agree with that portion of the compact, it's just the implementation of that truth seeking that I think we differ on.

The McIntire School of Commerce is one of the top undergraduate business schools in the country.  Professor Sidman weighed in on the recent forced resignation of President Jim Ryan. 

"...it feels like there's a couple people who are managing everything, and nobody else is really involved.”

Rowan is not alone in his quest to have the world he prizes pushed on others.  Billionaires Bill Ackman and Leon Cooperman have been rather vocal on this issue.

The billionaires bullied a relative few college students on behalf of America's 51st state.  How did that turn out?

Several Israeli nonprofits and a Holocaust scholar might point to the protestors' prescience.  Trapping innocent women and children in a war zone, where conditions for living become horrific, ensures a very predictable outcome.  

So how good are these billionaires at their day job as they seem suspect in other areas?

Two years ago Apollo CEO Marc Rowan espoused the relative safety of private credit, implying extra risk was not there.  He said not to think of it as levered credit but as investment grade debt.  

The landmines began exploding in private credit, mostly due to fraud, which these guys are supposed to detect.  Did dust from rigorous fee generation block the view through the due diligence microscope?  

JPMorgan CEO Jamie Dimon referred to private credit blowups as cockroaches.  One investment advisor referred to private assets in retirement funds "as only asking for trouble."

The government doing what PEU billionaires want is nothing new.  Fourteen years ago they coined a term for it, "policy making billionaire."  And that's why their highly unpopular preferred "carried interest" taxation remains firmly in place.

Those with eyes to see and ears to hear can detect patterns over time.  Everyone is entitled to their opinion, but only a select few are entitled enough to push their opinions on whole universities.

Politicians Red & Blue love PEU and their new TechGod brethren.  Increasingly, more are one.  History has shown us that they push their own book to exclusion of others.

The Ingraham Dangle

 A new SEC filing for Colombier Acquistion III follows two prior versions.  All are 1789 Capital formed SPACS.  1789 Capital is a private equity underwriter (PEU) with Don Jr. a full partner.

The filing states:

"the company is formed to fund the next chapter of American Exceptionalism and help Make America Grow Again"

And that's why it's incorporated offshore, because that is great for America and our exceptional financial markets.

We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination.

The board is made up of the usual Trump family members, friends, Red Team supporters and financial lampreys from Silicon Valley.  Oddly, a Fox talk show host made the cut.  

Laura Ingraham will be one of our directors as of the effective date of the registration statement of which this prospectus forms a part. She is the host of “The Ingraham Angle,” an hour-long cable news program, which launched in October 2017, on Fox News (weeknights). This features Ms. Ingraham’s analysis of politics, business, legal matters and the culture, along with her interviews with prominent individuals in those fields. As a leading voice in conservative media for nearly three decades, Ms. Ingraham has grown and overseen her advertising revenue from her early syndicated radio career to podcasting to social media. Ms. Ingraham is the author of several bestselling books, including the #1 New York Times bestsellers The Obama Diaries and Power to the People. She is a frequent public speaker at both political and corporate gatherings. In the spring of 2025, she was appointed by President Donald Trump to serve on the Board of Trustees of the Kennedy Center for the Performing Arts. Previously, Ms. Ingraham served as a law clerk at the Supreme Court of the United States and then a litigation associate at the Washington office of Skadden, Arps, et al. 

Mr. Masters, Ms. Ingraham and Ms. Willoughby will serve as members of our audit committee. 

Mr. Masters, Ms. Ingraham and Ms. Willoughby will serve as members of our compensation committee. 

The members of our nominating and corporate governance committee will be Mr. Masters, Ms. Ingraham and Ms. Willoughby

Laura Ingraham consented to be a board director nominee on October 17th.  

Her appointment follows Newsmax's announcement that it would buy Trump's meme coin for its corporate treasury.

News not only comes with an angle, it now has a dangle - Colombier Acquistion Corp III  and Colombier Sponsor III LLC stock.  The grift is huge and growing exponentially.  

Politicians Red and Blue love PEU and their new TechGod brethren.  Increasingly more are one and their sons will be far richer than their fathers.  

The world has really never seen anything like this before....never.  Thank you for your attention to this matter.

Update 10-21-25:  The Guardian found the story.  Bloomberg referred to Ingraham as an influencer.

The Greatest Pardon of Red Team Time

"I pledge allegiance to the Donald...." freed one convicted criminal with a history of selling "digital assets" via Harbor City Capital.

Harbor City Capital marketed itself as "digital private equity" but in reality it was a Ponzi scheme whose founder faces an October 31st trial date. 

FTX's Sam Bankman-Fried is capable of making the same allegiance pledge and could join Trump II's burgeoning fabulist dynasty with a prison release.

Trump II, the digital Caligula, needs help in order to grow his net worth to over $200 billion by January 2029.  That means lots of deals and lots of deal fees.  One man can only usurp so much.

Just as Moses needed the help of subordinate leaders as the Israelites crossed the desert, Trump needs lieutenants to sell and re-sell his endless stream of junk coins to your retirement plan, hawk Trump branded products made in China and ceaselessly compliment the Greatest Tooler that ever lived.

Only Trump II could take the political Red Team's apex embarrassment and prance it around as a testimony to his greatness.  We'll see which TechGod accepts Santos as he moves through Trump's lower GI tract for golden toilet expulsion.  Might George get a strategic advisor appointment, a board seat, maybe marry one of their offspring?

Politicians Red & Blue love PEU (private equity underwriters, including digital) and their new TechGod brethren.  Increasingly, more are one (as was the case with George Santos).  

My nickname for Trump is "Pablum" and I've christened Santos with "Yank."  To close, Pablum tugged Yank out of jail.  It's digital PEU party time!

Trump II's fabulist dynasty added another loon, buffoon and goon.  They are Legion...

Trump Frees Santos - Former Digital PEU from Prison

Trump released from prison the comically inept criminal & former Congressman George Santos of the political Red Team.  It's part of the Trump II "Just Us" creeps, imbeciles and bullies "All In - All of the Time" program.  

Prior to his election to Congress Santos was a digital private equity underwriter with Harbor Capital.

Santos is just the man to help 401(k) retirement account holders invest in private equity and cryptocurrencies, a signature Trump II, the digital Caligula, push.  

I imagine George will land somewhere around Mar-a-Lago where the new MAGA financial center is metastasizing.

Politicians Red & Blue love PEU and their new TechGod brethren. Increasingly, more are one.  It's a grand time to be in charge for the taking is unfettered. 

Politics is an insufficient way to explain our world, given its ever shifting sands, serial mistruths and mind numbing double standards.  Trump II's freeing of George, the ethical black hole, should be viewed in that light.

NewsMax Goes for Trump Meme-coin

Newsmax reported on the company's planned crypto treasury:

Newsmax also plans to add official Trump Coin to its strategic crypto reserve. The popular meme coin was launched earlier this year by President Trump and the circulating coin value exceeds $1.2 billion today with a total coin market value of around $6 billion, according to figures from Coinbase. 

"Bitcoin is fast becoming the gold standard of cryptocurrency, and we believe it would be an important company marker to add this asset to our company reserves," Newsmax CEO Christopher Ruddy said. 

"We are also excited to add Trump Coin to our cryptocurrency plan, as we believe the coin's value should track the success of the Trump presidency, which so far has been impressive," Ruddy continued. 

After making such a purchase, Newsmax expects to be the first NYSE company to purchase Trump Coin.

NewsMax's Board might not be the sharpest given the poor performance of the Trump meme coin after its initial pop (to $46).   Trump's cryptobro dinner ran the meme coin from $7.50 to $15 in May but its value has gone down since.  That decline occurred with Trump II, the digital Caligula, in the White House.

Newsmax has a 10 percent owner that is a Qatari Sultan with a London based investment firm.  Middle East monarchs are used to buying influence and Trump II is used to selling it.  

President Donald Trump and his family are taking part in self-dealing cryptocurrency schemes and right-wing media are mostly fine with it.

Fine might not be the correct word for Newsmax pumping money into "DT Marks DEFI LLC, an entity affiliated with Donald J Trump and certain of his family members."

It's a match made in a very special hellhole, the darkest black where ethical light can only be absorbed and not reflected.  

Update:  There is no pop in Trump meme coin after the Newsmax announcement.  The coin is currently trading at $5.90.  

Update 10-17-25:  Trump meme-coin trades at $5.76 after going as low as $5.64 overnight.  Trump II recently said "Newsmax is doing a very fine job."  Yes, buying a declining asset so an entity affiliated with Donald J. Trump can make even more than the $1 billion in crypto profits cited by Eric recently.

WideOpenAI's CHATXXX Expects Christmas Debut

It's coming in December warned Bloomberg.  The new AI de-evolution-  AH, artificial horniness - is marketed as erotic content for the purpose of selling ads.  

You might ask yourself "is this OpenAI's duty to humanity?  Hardly.

My wise friend wrote:

Yay decay because the boys make hay in a degenerate economy. 

At least the peep shows in New York City were contained to a certain area. Our kids are going to be so screwed up but at least somebody's making money off them, right....

Dongs up.  Cash flow up.  Intelligence & birth rates down.

I get to pay more for electricity to power the national porn addiction?  Where's Congress when you need them?  "Up the TechGods' rectums," also the name of a new AH WideOpenAI CHATXXX video.

Polticians Red & Blue love PEU (private equity underwriters) and their new TechGod brethren.  Increasingly, more are one and together they are milking our national spirit as well as pocketbook (just like porn).

Hey Congress, GET BACK TO WORK!  Otherwise the Capital may get rented out for CHATXXX freakoffs.  

Update 10-31-25:  One female CEO had a disappointing interaction with ChatGPT:

Alternative Investments, OK for 401(k)

Retirees face more choices in how to invest their 401(k) retirement funds and Congress is doing its part to anchor Trump II, the digital Caligula's executive order granting "access to alternative assets."

You have to have real income to open a new 401(k) or add to an existing one.  Those lacking sufficient income may even be robbing their 401(k) for today's living expenses. 

I shared this with my wise friend regarding local conditions in West Texas:  

Combine the plight of farmers with a dead oil field and many people are struggling to get by. Meanwhile the poorly paid city workers get to pay more for their crappier health insurance coverage. The old bottom plan is now the "buy up" plan.

My wise friend wrote:

You have to earn real income in an inflationary market while they live on a valuation in a money losing enterprise with a bubble valuation . Seems like a good system, no? LOL. We have the Private Equity Model of removing standard of living for the workers to build the sponsor's net worth. Welcome to the new plantation, same as the old plantation. Just be thankful you didn't have to forcibly contribute your 401K into their alternatives, at least not yet.

As stated before, out here oil and cotton are king.  Here's the five year picture for both commodities:

Both are well below peak prices and recent averages.  With operating costs rising rapidly in the farm belt I'm sure cotton margins are way down.  

Neighbors talk about the lack of work in the oil field and how quiet things are.  Drilling is nearly nonexistent as oil field yard after yard have parked equipment.  

Access to alternatives may not be a boon for those in the financially destroyed category.  Those with ample resources may already have a smattering of alternative investments outside their retirement account.  I'm sure some 401(k) holders are thrilled with the opportunity to invest in private equity, private credit, venture capital, hedge funds, crypto, real estate and commodities.  

Be sure to remember who took care of the investment sellers and left struggling people without a lifeline.  That could change when Congress reconvenes but I doubt it.

Politicians Red & Blue love PEU (private equity underwriters) and their new TechGod brethren.  Increasingly, more are one and it's clear they are about self service.

Update 10-16-25:  Trump doubled the Argentina bailout to $40 billion while farmers suffer from Milei's soybean deal with China.

Update 10-19-25:  Record numbers of Americans are robbing their 401(k)s early to pay emergency bills (to avoid evictions/foreclosures or to cover medical expenses).

Update 10-25-25:  Trump's financial embrace of Argentina is raising concerns in farm communities.

Economy Pinches another Billionaire

The billionaires just keep winning.  Fortune reported on a new member of the club.

On Tuesday, the New York Stock Exchange’s parent company, Intercontinental Exchange, invested $2 billion cash in Polymarket, skyrocketing the company’s valuation to $9 billion post investment and making CEO and founder Coplan a billionaire at the age of 27, according to the Bloomberg Billionaire Index.

Also benefiting from the massive valuation rise - Peter Thiel and his Founders Fund which led a $150 million round that valued Polymarket at $1.2 billion earlier this year.  

That's a 666% increase in less than a year for Thiel.  

That number is appropriate given Thiel's recent focus on the antichrist, which could be any person or group that challenges a TechGod's ability to harm people, purloin information, surveil the workplace/society and endlessly enrich themselves with no concern for any social obligations, like taxes. 

Polymarket is a betting site, pure and simple, and for most an unprofitable one.

To sum up, the parent company of the NYSE put $2 billion into a site that takes most people's money.  The investment made a new billionaire and an existing billionaire even richer.  And they pretend this is knowledge generation.  

A knowledgeable generation would stay away from Polymarket and its extrinsic titillation. 
Think of B.F. Skinner's rat and the bar.  Only 12.7% of the time the rat gets the pellet.  87.3% of the time it gets shocked.  That's a lot of Poly-losers.

Staying away from Polymarket is required in order to sustain one's intrinsic cognition/learning skills.  The company will not tell you that as they fleece your wallet.  

PEU Kids Have Big Week

Don Trump Jr. and Alexa Rachlin Rubenstein made the news.  Don Jr. of 1789 Capital was the subject of another reprehensible story involving the beleaguered Scott Bessent, whose lips must be worn out from his ceaseless Trump II butt kissing.  

Fresh from saving Trump II's Quasimodo like economic twin, Argentinian President Javier Millei, with a $20 billion currency lifeline, Bessent has to deal with sleazy promises made by the President's elder son.  Don Jr. is a partner with 1789 Capital, a private equity underwriter (PEU).  

Don Jr.'s PEU firm approached America's TechGods for yet another cash infusion.  Surely, these people have a limit.  It's been nine months since Trump II's inauguration and the administration and family have perpetually had their hand out, expecting $ millions a pop.

The new financial center is around Mar-a-lago and that brings us to Alexa Rachline Rubenstein of West Palm Beach.  Alexa's father is PEU legend David Rubenstein, co-founder of The Carlyle Group and founder of Declaration Partners, which has roots as his family office.  Declaration birthed Hobe Mountain Capital, which will focus on buying and selling PEU secondary offerings.  

How many secondaries came from Declaration itself?  If any, that doesn't sound like an arm's length deal at all given father and daughter would have gotten together to decide the marks.

These two stories are but markers along the way.  Politicians Red & Blue love PEU and their new TechGod brethren. Increasingly, more are one and their sons (as well as daughters) are slated to become far richer than their fathers. It's a grand time to be in charge for the taking is unfettered.

Update 10-16-25:  Trump doubled the Argentina bailout to $40 billion while farmers suffer from Milei's soybean deal with China.

Update 10-25-25:  Trump's financial embrace of Argentina is raising concerns in farm communities.  Bailing out his "Mini Economic Me" is not popular with the MAGA base.

Raistone, Synapse: Fintechs with Vanishing Funds

Reuters reported:

Trade finance company Raistone, a creditor of First Brands, asked a court on Wednesday to appoint an independent examiner, claiming that as much as $2.3 billion "simply vanished" from the bankrupt U.S. auto parts supplier.  

First Brands had earlier appointed a special committee of independent directors to probe its off-balance-sheet financing and whether invoices were factored more than once.

Raistone provides factoring services, buys accounts receivable at a discount, and helped First Brands with its balance sheet.  Thus, it had a key role in First Union's problem areas that led to its collapse.

First Union believed it had an unpaid $2.3 billion hole on its balance sheet related to third-party factoring arrangements when it filed for Chapter 11 proceedings. Factoring is a financing method used by companies to sell outstanding customer invoices to investors in return for cash. 

First Brands collected roughly $1.9 billion of factored receivables without remitting it to the proper owners, according to the filing.

Fintech Raistone's announcing significant missing funds follows fellow fintech Synapse, which lost up to $96 million in customer money while pretending to be have FDIC coverage.

Raistone's pitch includes:

Raistone enables the financing of billions of dollars in transactions every year. Its best-in-class technology coupled with unparalleled access to institutional capital extends financing to companies of all sizes, fully integrated with the same software platforms they already use. As the world's largest business-to-business embedded finance provider, Raistone works to ensure that all businesses have access to their money, on their terms.

Does that include businesses doing unethical things to illegally lever money "on their terms"?  You'd think credible technology and creditor due diligence could ferret that out.

The Synapse debacle remains unresolved to this day after TechGod Marc Andreessen walked away from its stinking carcass.  Raistone does not yet belong in in Synapse's category, as much forensic financial work remains to be done.  Fintechs and missing money, is it a series of one off events or a potential pattern?  

If Raistone becomes the next Synapse will its "full-service broker dealer, $30 billion family office, a $900 billion wealth manager, and international bank" backers walk away like Andreessen?