Trump v. Clinton: The media double standard on the influence of foreign cash
Today’s newsletter shows why now — more than ever — it is imperative to support independent media. With your help, Popular Information can be a bulwark against demagogues and unchecked corruption. Please support this work by upgrading to a paid subscription. On Monday, Popular Information reported that Justin Sun, a Chinese national currently being prosecuted for fraud by the Securities and Exchange Commission, sent President-elect Donald Trump $18 million in cash. Sun did so by purchasing $30 million in tokens from World Liberty Financial, a crypto company backed by Trump. World Liberty Financial planned to sell $300 million of its crypto tokens, known as WLF, which valued the company at $1.5 billion. Before Sun's purchase, the offering looked like a bust. Only $22 million in tokens had been sold. Per the terms of his deal with World Liberty Financial, Trump is entitled to 75% of proceeds from the token sale, but only after the first $30 million in tokens are sold. So before Sun's purchase, Trump was entitled to nothing. Sun conveniently purchased enough tokens to meet the entire reserve, allowing Trump to collect 75% of the revenue of all other tokens sold. As a direct result of Sun's purchase, Trump netted over $18 million. Trump's relationship with World Liberty Financial is a vehicle for any person or entity seeking to curry favor with Trump — foreign or domestic — to send him millions of dollars. This can be done in secret. Justin Sun decided to make his purchase public, but he was not required to do so. The next foreign national seeking to send Trump cash through World Liberty Financial could do so anonymously. And yet, Sun's purchase of $30 million in WLF tokens has been ignored by several major media outlets. The New York Times has not mentioned Sun's purchase of the tokens, even in passing. Other major outlets, like the Associated Press and the Wall Street Journal, have briefly mentioned Sun's purchase in the context of other coverage. For some reason, the direct transfer of $18 million by a foreign national being prosecuted by the SEC to the president-elect has not been deemed worthy of meaningful coverage. This is a dramatic change from how the same outlets handled the potential influence of foreign money on other politicians. In the leadup to the 2016 election, there was extensive coverage from every major media outlet concerning how foreign donations to the Clinton Foundation created conflicts of interest for Democratic candidate Hillary Clinton. This was a legitimate subject of journalistic inquiry but differed in several respects from Sun's enrichment of Trump:
An analysis by Popular Information reveals that between January 1, 2015, and November 8, 2016 (Election Day), the New York Times published 79 pieces that were about or referenced foreign donations to the Clinton Foundation. That is nearly one story a week for 22 months. In a February 20, 2015, column by the New York Times Editorial Board — before Clinton had formally announced her candidacy — the paper emphasized why even an indirect connection between a presidential candidate and foreign dollars was deeply problematic:
After Clinton declared her candidacy in April 2015, the Clinton Foundation reimposed restrictions on foreign donations, increased the frequency of its voluntary disclosures, and announced it would stop holding events overseas. The New York Times noted that "questions about the donations have created weeks of negative headlines for Mrs. Clinton leading up to her campaign rollout." At the same time, the New York Times, the Washington Post, and Fox News struck a deal with Peter Schweizer, a right-wing operative and frequent collaborator with Steve Bannon. Schweizer had rebranded himself as a journalist and was publishing a book called "Clinton Cash." The book alleged "that foreign entities who made payments to the Clinton Foundation and to Mr. Clinton through high speaking fees received favors from Mrs. Clinton’s State Department in return." Schweizer later admitted that he had no actual evidence to back up the central premise of his book. Nevertheless, the extensive coverage continued in the New York Times based on Schweizer's work. On April 23, 2015, the New York Times Editorial Board dedicated another column devoted to foreign donations to the Clinton Foundation:
The coverage, while not revealing any evidence of impropriety, continued month after month. The Republican Party even created an attack ad based on the flood of media attention: On August 18, 2016, Clinton announced that, if she won the presidency, the Clinton Foundation would stop taking money from corporations or foreign sources. But even that was not enough to put the issue to bed. "The foundation’s ties to foreign governments and financiers have long been fodder for Mrs. Clinton’s critics — chief among them Donald J. Trump — who contend that foreigners used donations to the foundation to curry favor with the Clintons while Mrs. Clinton was the country’s top diplomat," the New York Times reported on October 15, 2016. That story was about a hacked email revealing that the Qatari government, who donated to the Clinton Foundation, requested to meet with Clinton. The email was treated as a potential scandal even though there was no evidence such a meeting ever occurred. The New York Times' approach to foreign donations to the Clinton Foundation was not unique. A review of Washington Post coverage over the same time period reveals dozens of similar articles. The Washington Post, for example, highlighted the pledge to stop accepting foreign donations if Clinton won the election meant "donors could race to give money before the deadline — but in time to curry favor with a Democratic nominee who is leading in the polls." The Washington Post finally filed a story on Sun's purchase of tokens on Tuesday afternoon. The New York Times and other outlets, however, still appear uninterested in a foreign donor personally enriching Trump after he won the presidency. Popular Information is an independent newsletter dedicated to accountability journalism since 2018. |
Older messages
North Carolina Supreme Court candidate seeks to disqualify 60,000 voters — including his opponent's parents
Tuesday, December 10, 2024
In an effort to overturn the results of November's election, Jefferson Griffin, a Republican candidate for the North Carolina Supreme Court, is asking state election officials to throw out more
Kash-ing in: The money-making schemes of Trump's pick for FBI Director
Tuesday, December 10, 2024
The current FBI Director, Christopher Wray, was appointed by Donald Trump during his first term. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What really happened after California raised its minimum wage to $20 for fast food workers
Tuesday, December 3, 2024
What would happen to the fast food industry if it had to pay its workers something closer to a living wage? ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
A Chinese national, charged with fraud by the SEC, just sent Donald Trump $18 million
Monday, December 2, 2024
Chinese Crypto entrepreneur Justin Sun paid $6.2 million for a banana — sold by Sotheby's as conceptual art — and then ate it last Friday. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
The religious indoctrination of America's public school students
Thursday, November 21, 2024
In states across the country, educational officials are seeking to incorporate Christianity into public school curriculums. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
You Might Also Like
Open Thread 361
Monday, December 23, 2024
... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
The Automattic vs WP Engine WordPress wars are getting really annoying [Mon Dec 23 2024]
Monday, December 23, 2024
Hi The Register Subscriber | Log in The Register Daily Headlines 23 December 2024 wordpress The Automattic vs WP Engine WordPress wars are getting really annoying Forks at dawn.... but it's not
In Waning Senate Days, Kyrsten Sinema Screwed Workers and Spent Campaign Cash on Stay at French Castle
Monday, December 23, 2024
The Arizona senator's prodigious campaign spending in global wine hot spots can't possibly be related to the campaign she's not running, says an ethics complaint. Most Read Indiana's
Monday Briefing: Al-Assad’s final days in power
Sunday, December 22, 2024
Plus, tell us about your most successful New Year's resolution. View in browser|nytimes.com Ad Morning Briefing: Asia Pacific Edition December 23, 2024 Author Headshot By Gaya Gupta Good morning.
Gift of the Day: For the (Battery) One-Percenters
Sunday, December 22, 2024
“They'll never have to turn on low power mode again.” The Strategist Gifts Every product is independently selected by editors. If you buy something through our links, New York may earn an affiliate
GeekWire's Most-Read Stories of the Week
Sunday, December 22, 2024
Catch up on the top tech stories from this past week. Here are the headlines that people have been reading on GeekWire. ADVERTISEMENT GeekWire SPONSOR MESSAGE: Improve focus and memory with Thinkie:
Speckled Curiosa
Sunday, December 22, 2024
Today, enjoy our audio and video picks. Speckled Curiosa By Caroline Crampton • 22 Dec 2024 View in browser View in browser The full Browser recommends five articles, a video and a podcast. Today,
10 Things That Delighted Us Last Week: From Gap’s CashSoft to Airplane Footrests
Sunday, December 22, 2024
Plus: A design-y divider to make room for guests in small spaces. The Strategist Logo Every product is independently selected by editors. If you buy something through our links, New York may earn an
LEVER WEEKLY: Nurses And Other Superheroes
Sunday, December 22, 2024
Financial technology startups could ruin Christmas and more from The Lever this week. Nurses And Other Superheroes By The Lever • 22 Dec 2024 View in browser View in browser This is Lever Weekly, a
The Sunday — December 22
Sunday, December 22, 2024
This is the Tangle Sunday Edition, a brief roundup of our independent politics coverage plus some extra features for your Sunday morning reading. Our Sunday newsletter is typically a feature for