Today the Circuit Breakers were down 7 . A day where oil had its first decline, down 31 . The treasury went below. 15 a record low which tells you the bond market is terrified its also a day where you probably lost a lot of money its probably what happened to you. Thats because, of course, the dow plummeted 2014 points. Its worst point drop ever. The s p plunged 6. 7. Nasdaq 2. 159 now the dow was at 2. 14. It lost that much. Okay it happened. What the heck got us here . Where do we go next . First todays sellers fear we are going into a coronavirus induced recession and theyre trying to get out of other people who want to sell. Just trying to get aahead of them that may sound fanciful that we had six cases in this country and 22 deaths. In the end, it seems like a super food than the playing. As the president tweeted earlier, 37,000 americans died from the flu last year yet nothing is shut down life and the economy go on, end quote. But the marks were not reassured, not the bond marke
Rachel Maddow takes a look at the days top political news stories. James comey. It also only mize if the case in question is closely connected to politics. Thats whats important about the big new development. The Wall Street Journal was first on report in detail on the type of charges that federal prosecutors may be considering against the president s personal lawyer, Michael Cohen. If it is kregt, the charges he is facing from prosecutors are not related to politics at all. At least not at face value. In quote, previously unreported developments, federal prosecutors in new york are examining whether mr. Cohen committed tax fraud. Quote, federal authorities are assessing whether his income from his. At Ai Medallion Business was underreported. That includes hundred of thousands received in cash and other payments over the last five years. In addition, federal authorities have been investigating whether he made misrepresentations or
false statements on lone applications including whether
campaign economic council. the second loan looked dead at cox bank and to all of a sudden it looked like he might win the election on election night. at that point stephen caulk revived that lone application, shuffled the millions of dollars to manafort and then sent him a list of trump administration jobs he wanted to be considered for, starting with secretary of the united states army. you get that by giving paul manafort money? prosecutors said that he ignored financial red flags and manafort s loan application because he desperately wanted to be secretary of the army, and thought that that s how he could get it. in the end, caulk did give manafort the money but did not get the job. he did get an interview for it. maybe it wasn t a complete waste. it very much helped prosecution that stephen caulk put all of his jobs and writing, in an email to manafort during the transition he listed in rank order his favorite quote,
can really threaten somebody with serious legal jeopardy. so the journal reported on detail. the name of the specific bank that prosecutors are looking into to figure out whether the bank might have had a confederate working with cohen. if those charges are what cohen is facing, that is a pretty ominous development for the president s lawyer. as is the other piece of the pus people we just got filled in today. it concern this is unfamiliar with you but admittedly quite handsome gentleman. his name is gene friedman. he is russian born. in the tabloids they call them taxi kink. in may, there may, the taxi king unexpectedly pled guilty to what seemed like some relatively minor charges and crucially he agreed to start cooperating with
chicago banker steven calk. indeed, we on this show later obtained these court documents from that divorce case. i think these have never been shown on tv before. these documents show that as part of the divorce proceedings involving this bank s ceo, his wife s attorneys specifically subpoenaed, quote, the entire loan file for any and all loans made to paul manafort or any third party on his behalf. the wife s attorneys updated subpoena to demand evidence referencing the source of funds use to fund any and all loans made to paul manafort, summer breeze llc or any agent or third party on his behalf. why are they showing up in the divorce filings?