Bloomberg - Evening Briefing - ‘Dagger’ at America’s throat

A visibly angry President Joe Biden warned America that the deadly insurrection at the U.S. Capitol a year ago is part of a broader war on democracy by Donald Trump and other Republican politicians—one they continue to wage to this day. Biden’s speech was his most extensive condemnation yet of the effort to propagate what has come to be known as the “big lie” about the 2020 election. The falsehood about voter fraud has been used as cover in Republican-controlled states for rewriting laws in ways that restrict voting access among traditionally Democratic constituencies, place local Republican officials in charge of elections and enable legislatures to throw out valid election results. Warnings from political observers all over the world contend the effort will set the stage for minority rule in America. Without uttering his name, Biden identified Trump as the leader of the campaign, and pledged a fight. “I will defend this nation,” Biden proclaimed on Thursday. “I will allow no one to place a dagger at the throat of democracy.” —David E. Rovella

Longtime Republican strategist Karl Rove unleashed a sweeping attack on members of his party who repeat Trump’s falsehoods about the election and the Jan. 6 assault. Across Washington, the anniversary demonstrated the deep scars left by the day. They also illustrated how Trump holds in thrall much of the Republican Party. 

Representative Liz Cheney, a Republican from Wyoming, center, and former U.S. Vice President Dick Cheney, right, walk through the U.S. Capitol rotunda on the first anniversary of the Jan. 6 insurrection. Photographer: Stefani Reynolds/Bloomberg

In the year since the Jan. 6 attack, the government has responded better than might’ve been expected, Bloomberg’s Editorial Board writes. Law-enforcement has charged at least 700 people in 47 states, Congressional investigators have interviewed hundreds of witnesses and federal courts have resisted efforts by Trump and his allies to block documents and testimony. Such progress demonstrates the resilience of America’s democratic institutions, but it also underscores the need for the House select committee investigating the insurrection to quickly complete its inquiry and resist pressure to expand its scope. 

“Dagger at the throat of democracy” or not, Corporate America is acting as if everything is business as usual. Corporations including Lockheed Martin—one of the country’s biggest defense contractors—as well as Valero Energy and United Parcel Service have resumed providing cash to Republican lawmakers who sought to block certification of the 2020 presidential election results. 

U.S. government officials are hoping for common ground on arms control in upcoming talks with Russia. As for Vladimir Putin’s main demand that NATO be kneecapped in Eastern Europe (possibly in exchange for him not re-invading Ukraine), that’s already a non-starter.

While stock investors entered the new year spooked by a jump in Treasury yields, Wall Street’s top-ranked strategist offered some soothing words: higher rates are no hurdle to the bull market. 

Technology stocks around the globe got hit this week, but shares of Hong Kong companies were already taking a pounding, in part because mainland Chinese investors had walked away. Meanwhile, a near-record number of tech stocks have plunged by some 50% in an echo of the dot-com crash. Here’s your markets wrap.

The head of India’s main medical research agency said there were “major safety concerns” over Merck’s Covid-19 drug that may impede its addition to the country’s viral treatment list. As the omicron variant sweeps through North America, responses by the U.S. and Canada couldn’t be more different: U.S. states are largely open for business while Canada’s biggest provinces are shutting down. This is a big reason why, and here’s the latest on the pandemic.

• Kazakh leader calls in Russia as his forces kill dozens of protestors.
• Why right-wing darling Parler’s quick rise ended after Jan. 6.
• Covid-19 is reversing decades of progress for the world’s girls.
• Walmart cuts in half paid leave for workers with Covid-19.
• About those Bitcoin-at-$100,000 calls? Maybe not so much.
• Apartment occupancy just hit a historic high. Is that good?
• Djokovic gets little sympathy from Nadal over  Australian deportation.

New York regulators chose two groups—a total of nine casino and online gaming operators—to offer mobile sports betting, making the state one of the largest yet to allow such wagering. Leading the pack are DraftKings and FanDuel. Here are the rest.

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