Senator butler after the swearing in to congratulate her. That is tonights last word. The 11th hour with Stephanie Ruhle starts now. Tonight, history on capitol hill, as Kevin Mccarthy is ousted as Speaker Of The House. The first time this has ever happened. So, what happens next . And from speaker to telling donald trump, dont speak. The new gag order against the former president in the civil fraud case. Then, his downfall shocked the business and political world. Now, disgraced crypto king Sam Bankmanfried is getting his day in court as the 11th hour gets underway on this tuesday night. Whoa, baby, have we got one for you tonight. Good evening once again. I am Stephanie Ruhle. And you know we are beginning with the chaos on capitol hill today, brought on by the house vote to remove Kevin Mccarthy as speaker. Keep in mind this is the first time in our nations history that a speaker has been voted out of office. I dont regret standing up for choosing governance over grievance. It is my responsibility, it is my job. I do not regret negotiating. Our government is designed to find compromise. I believe i can continue to fight, maybe in a different manner. The California Republican had only been on the job for nine difficult months. This afternoon, members from both parties voted to strip him of the gavel. The yays yeas a 216. The nays our 210. Motion to reconsider is laid on the table. We get more now from nbcs Garrett Haake on capitol hill. Tonight, after an historic vote in the u. S. House, now former speaker Kevin Mccarthy returning to an office that is no longer his. The office of the Speaker Of The House of the United States house of representatives is hereby declared vacant. Acting on a motion by Florida Republican matt gaetz, eight republicans joining with democrats in voting to vacate the position of speaker for the First Time Ever following an impassioned. Its disgusting and its whats disgusting about washington. Its selfish, that four conservative policies and bad for america. Thats why i strongly support speaker Kevin Mccarthy. There is nothing selfish about wanting a Speaker Of The House who tells the truth. North Carolina Republican Patrick Mchenry taking over as temporary speaker. The chair declares the house in recess, subject to the call of the chair. Gaetz declaring victory. Its to the benefit of this country that we have a better Speaker Of The House than Kevin Mccarthy. Kevin mccarthy could not keep his word. While mccarthys allies heap scorn on the republican rebels for defying the party. Matt gaetz wants to wreak havoc and chaos within the Republican Party and he is doing just that. Unfortunately, the American People are ponds in his narcissistic game of charades. The seed for when the florida firebrand was the lost last republican holdout to oppose making mccarthy speaker, eventually voting switching his vote present on the 15th ballot. After working with democrats to matt gaetz voted to try to remove him, with mccarthy saying today. I think matt gaetz has planned this all along. It didnt matter what transpired. Projecting confidence even as he arrived for the vote. Look im an optimist that the narrowly divided house Left Democrats an opening. With a intervene to save a leader many despised . Just nobody trusts Kevin Mccarthy. Nobody trusts Kevin Mccarthy. And why should we . After a two hour meeting, the democratic leader announcing they would stay out of the gop civil war but vote against mccarthy. Mccarthy says he will not run again for speaker. The house is now in recess. Republicans say they will hold a Candidate Forum for speaker next tuesday, and then hold an internal election among republicans wednesday on who they are going to lets get smarter lets get smarter with the help of our leadoff panel. And we need a good one tonight. Sahil kapur, political reporter who has been on duty for the past 15. Hours symone sanderstownsend, former chief spokesperson Vice President harris and host of The Show On Peacock and msnbc. And former republican charlie dent of pennsylvania, you know im going to you first. You saw your fair share of battles when you were on the hill. What is your take on Kevin Mccarthy being ousted, and dont you dare say it was a surprise. No, not a shock. But, what it is, he attempted, Kevin Mccarthy attempted to appease this critics for a long time, when you look at what happened when he became speaker, he accused the piece them on the motion to vacate just one vote. He gives them three seats on the Rules Committee, gabe gabe seats on the appropriations committee. He cut a deal on the debt ceiling, spending agreement, then walked away from it shortly thereafter. He also also the Impeachment Inquiry really set off the democrats. So he appeased those guys, these hardliners in order to secure their support. Well, it did not materialize. I always said that marginalize those guys, just go to Hakeem Jeffries and x number of votes i will work with you and ignore those guys. But tried and they ended up growing him in the end. They sure did. Sahil kapur, what are you hearing on the hill tonight . Well sorry, so. Stephanie yes, stephanie, sorry, sahil . Republicans are overwhelmed by this. 96 of them as mccarthy correctly pointed out did support him, it was the other 4 are ended up forcing him out. Some were overwhelmed, so some look looked teary eyed. There is Succession Plan right, now this is bedlam. They all came in saying they support cover, mccarthy and team matt gaetz who voted to oust him, they do not have a Alternative Speaker in place. So, republicans are an unprecedented place, and as a speaker been ousted, can you the house is paralyzed. And they even bring legislation to the floor, canned committees do their work without a speaker running the place . If they do pass a law could that be challenged in a court . All these questions are being asked, not only on the house side but in the senate side, and of course theres a deadline coming up in about six and a half weeks to fund the government again, mccarthy did ultimately have a choice, stephanie, we have been reporting this for some time now. He could keep the government, open or keep his job. In the final hours to decide who is going to keep the government open and risks his job. They ended up hanging him for it. Proverbial. Hold on a minute. He kept the government open, he did, but for the matt gaetz of the world, symone, to even imply he sided with democrats, on sunday, morning he went on national tv and lie to the American People, and said this thing is not done yet, it is democrats fault. Its democrats fault. There is no way they were going to take that sitting down, and say we are going to protect you, buddy. Because you kept the government open. Yes, it was a very strange turn of events. If you remember right after the government was kept open, right after the house passed the continuing resolution, speaker mccarthys first comments were about hunter biden, cafe milano, and joe biden. It was very convoluted and disconnected from the reality that we all just witnessed. I spoke with a number of members of Congress Democratic members of Congress Today and they all noted that that video of speaker mccarthys interview on The Sunday Show with Margaret Brennan on Sunday Morning was the nail in the coffin for them. Now frankly i dont know why any of us would even suggest to democrats that, why are arent democrats going to work to save Kevin Mccarthy because if the shoe were on the other, foot there would be no way republicans would interfere in House Democratic caucus business to save a leader jeffries, or previously as speaker pelosi. And i think sahil had the tweet of the day, actually, where he tweeted and underscored that speaker nancy pelosi, when she was, speaker had the exact same very slim margin that mccarthy did. For all the he humming and hawing that a number of progressives to privately, nothing like this ever happened while she was Speaker Of The House. And we hear all the time, the farright and the far left, but even the most progressive members of congress, symone, you cant point to anything that they are simply trying to blow up the system, cause chaos, bedlam, or paralysis, which is exactly where the house is right now. Absolutely. You know, stephanie, we talk about American Politics being fractured, and American Politics is broken, congress is broken. I dont think congress is broken or even American Politics is broken. Maybe you know it is the former political staffer in me. It seems to me right now, the Republican Party apparatus is broken. And we are at an inflection point, we often talk about inflection points. We are really at an inflection point. The Republican Party apparatus is at an inflection point. They are going to have to figure out who they want to be, and how they want to govern four if it is even possible. Today, in the last couple weeks or any indication, when you have brendan buck, our colleague brandon buck was saying, that republicans do better in the minority the majority, they are better at complaining and causing chaos and governing, that is saying something. I think we should all pay attention. Charlie dent, you said it a moment ago. It took 15 votes for him to get this gig. He soon after turn over the january six tapes to tucker carlson, much to the dismay of capitol police. He is the one who agreed to this particular set up rules that got him ousted just two weeks ago. He turned down president s alliance, cutest wanted to address congress. And mccarthy is responsible for booting metal detectors. What is his legacy . Well, ive known kevin a long time. He fell into this trap of feeling that he had to try to his critics. He can never win them over. Do you think its their critics. They are his enemies. His enemies, in many cases. There is a nihilistic wing of the party that wants to tear it all down. They dont have an affirmative sense of governments and they dont have any plans, as just stated by symone, they would rather be in the minority. It is easier to to vote no, and that is the mistake that he made, and to a lesser extent i would say, john boehner and ryan do not deal with that group, they ignore them, and that is how you can marginalize them and maybe try to bring them back that way. But do not try to make concessions. That is a speakers committee. The audience may not know what that means its you cant get your agenda done if the company does not know what the speaker, once and you put people in a critical of him. Appropriations, same thing. And i served on the appropriations committee, i watched all of this. It has not changed. It has been going on since 2010. Or, 2011, actually. It has been going on. It has only gotten worse because the margin is smaller, and theyre frankly more of these exotic members who are way out there on the fringe, they are not really we can talk people keep calling them conservatives, theyre actually illiberal populists. When you close your eyes and think what a conservative is, and then you think about how lauren boebert, matt gaetz, and Marjorie Taylor greene conduct themselves, theres does the word conservative hunter enter your mind . No, but whats even worse is what they are allowing these guys to do is, like, on ukraine, there is a Strong Majority in both the house, and the senate to fund the ukrainian war effort. So how can this group dictate to the majority, and we have a votes in congress for a reason. Lets put it to a vote. Ukraine is going to be funded. But they are trying to accommodate these people who want a policy outcome. That is undemocratic by the way. How can a small minority insist on an outcome when they keep losing the vote . And the former speaker, in this case, should not try to accommodate them. I think that has been part of the problem. They just keep trying to take care of people who have no interest in helping. He tried to accommodate them, and i want to go back to what we were saying before. And then he went on television and lied about democrats. Sahil, watch this. I wasnt sure it was going to pass, you want to know, why . Because the democrats tried to do everything they can want to let it pass. The democrats stick together, but they did not want the bill. They did not they were willing to let government shut down for a our military not to be paid. For facts sake, sahil, 209 democrats and 129 republicans voted for that bill. On what planet was he living, thinking that he could say that on national tv, and then democrats would be there for him in his time of need . It was three days ago. So this is a really important point stephanie, and im glad you played that clip. Because you know who else watch that clip, democrats in their caucus meeting this morning. We are told by sources, that exact clip was played, and emerging from that conference meeting, Gerry Connolly of virginia said it was the stupidest Thing Mccarthy could have done on the eve of a vote we are there were democrats genuinely on the fence. It always seemed a bit out there, this idea that democrats would step in and rescue mccarthy. But some of them genuinely were on the fence because they did not want to be seen as toppling a speaker simply for keeping the government open on a clean basis. Him attacking them like that did not help. You know what else did not help . There were a number of things in my conversations with democrats that pushed them to side with the republicans and topple mccarthy. The fact that he reneged on the two year budget, deal the fact that he unilaterally launched an Impeachment Inquiry into President Biden without having evidence of wrongdoing, after he said he would with a house vote turning the normally bipartisan defense bill into a partisan warfare and the other aspect, was centrist members, the Swing District Members who would be the most likely to cast votes or at least see some advantage to rescuing him, he was just going to turn around and using multi Million Dollar war chest to defeat them in the next election. So this whole Incentive Structure did not work. Theres maybe an alternate reality or mccarthy ands up instead of catering to the hardline members working with democrats on some sort of a cross Party Coalition as charlie was suggesting there. That did not happen. If that did happen, maybe democrats would have rescued him. But their attitude now as he made his bid. Hes got to lie in. It all right, well lets talk about this alternate reality that might actually be a possibility as crazy as it sounds, charlie. Is there any scenario, we i realize how divided and fired up people are, is there any scenario because there is no clear person, no clear republican who has the votes to become the next speaker i cant believe im saying, this, but of some sort of Power Sharing Agreement between the two parties, some scenario because. Right now, i dont see who can get the votes from the Republican Party. If no House Republican can get 218 votes from republicans for speakership, and they will be forced into a Power Sharing Agreement. Some states have done, this texas did it. I remember pennsylvania did it. We had a republican as the speaker with a democratic majority. Democrats could not rally around somebody. Texas saying they should have same issue extreme republicans and more moderate republicans or pragmatic republican said to you deal with the democrats. So we have it done in congress. It could be done. How you would separate the committees, who would control which ones, these are all questions that we have never really dealt with before. But if you cant get 218 votes, you have to elect a speaker, so they will need some democrats at some point. But i suspect republicans will rally around somebody whether mchenry, or tom coal, or amara emmer or skellys. Scalise. Symone, what do you think happens next . I think democrats will band together behind leader Hakeem Jeffries and we will see a repeat of what we saw in january, where democrats repeatedly vote in support of Hakeem Jeffries as their leader, and if republicans go through a number of ballots until they can coalesce around one particular person that is a republican. Let me just say this though, a number of democratic members of congress, and frankly this is what im hearing from folks at the white house and aids on the hill, the concern here about speaker mccarthy, and other republicans is can they be trusted to keep their word in congress, and frankly in politics . Really, it is a trust game. It is a trust game. You make promises, and to deliver on those promises. Cutting a deal is nothing but a Handshake Agreement that says i will do, this you will do that, and we will meet in the middle. This Republican House majority has not been trusted to keep their promises. When you have President Biden coming out over the weekend, saying hey, you have to stop this, stop this chaos. But when you say you are going to do something, you need to do it. Joe biden was at his wits and and, and i think that is very emblematic of how a number of democratic members of congress feel. So for that reason alone i do not think you are going to see democrats extending themselves in any way shape or form. Where democrats used to be in disarray, they are on one accord, and you have conservatives in the House Republican caucus in chaos. They are fitting under that great big tent, charlie, just think about the split screen. Okay. You have the republican front runner with 91 charges against him, while he is currently sitting in the middle of a fraud case against him. In the house theres clearly no immediate replacement in sight. Juxtapose that with the fact that joe biden today just nailed down lowering drug prices. Something he has actually been working on for over 20 years, and congress hasnt been able to get done, and that will help basically all americans. How do you see the two parties at this very moment . I think both parties are actually in trouble, maybe because the standard bearers for both parties trump is indicted multiple times, many people see joe biden as passed as prime and diminishing yes, lets just be clear, joe biden is essential to the same age as donald trump. Right. But the point is, most americans think the next generation needs to lead. So they both have problems. Biden is not getting a lot of credit for his Policy Agenda whether you like it or not, hes not getting a lot of credit for it. Republicans have deeply flawed likely nominee. They also have to figure out the abortion issue, where they are on the wrong side of public opinion. And now, with the dysfunction in the house, that is not helping the case. And i still think there is going to be a big independent movement in this country in this election cycle, and i see it happening because there is going to be a lot of people voting for neither of the two major party candidates, just like 2016. This will be worse. But will that boom help elect an independent . Youve got cornell west out there, youve got the no labels movement out there as well. So, there are going to be a lot of people out there looking at this other alternatives. Im not saying anybody is going to win, but im going to say that vote for something other than what they are being fed. Chaos is coming. Sahil kapur, symone sanderstownsend, charlie dent, thank you all for also following Breaking News out of baltimore, maryland, where police say multiple people have been shot near morgan state university. This is an active investigation. Police are telling people nearby to shelter in place. Or affiliate in baltimore says says, four students were shot, but are expected to be okay. We will continuously update you throughout the hour. As soon as we get more information. Up next, the judge in trumps Civil Fraud Trial here in new york has had enough. The former president now hit with a limited gag order, what it could mean for the case. And later, the Eight Billion dollar Sam Bankmanfried crypto fraud trial started today. Two reporters who were in the courtroom, one who just wrote an extraordinary book taking it down. We will break it all down tonight. The 11th hour just getting underway on a very busy tuesday. Tuesday. The power goes out and we still have wifi to do our homework. And thats a good thing . Great in my book who are you . No power . No problem. Introducing stormready wifi. Now you can stay reliably connected through Power Outages with unlimited cellular data and up to 4 hours of battery backup to keep you online. Only from xfinity. Oh, boy. Home of the xfinity 10g network. Donald trump is already facing a limited gag order in his new york Civil Fraud Trial. And it is only day two. My colleague Laura Jarrett is here on what you need to know. It was his comments on social media that prompted a dramatic ruling from the judge after mr. Trump posted a photo of the judges law clerk who easing with top Senate Senate Democrat Chuck schumer, the judge ordering the post on truth social removed. Saying personal attacks on any member of my court staff are unacceptable. Consider this a gag order. The republican frontrunner again going after the democratic Attorney General, who brought the lawsuit. Judge engoron has been given false and extremely misleading information about my net worth. Private company. Nobody is supposed to know my net worth. A net worth the state says while mr. Trumps legal team says the state valuations are subjective. As a reminder, here is just some of what trump has said lately about the courts in his cases. The Attorney General is a racist. And the judge, a trump hater. A democrat politician. A democrat operative. And the judge should be disbarred. And the judge should be out of office. This is a court. Down to do a job on trump. Its a witch hunt and its a disgrace and corrupt probably be dismissed also, because hes terrible, and grossly incompetent. With us for more, katie benner, pulitzer prizewinning reporter for the new york times, tristan snell, a former assistant Attorney General for new york state, or he helped lead the investigation and prosecution of trump university, and my dear friend and partner forever. We rarely get a good high five, so im very proud of us right there. Ali velshi, chief correspondent, you know him as host of velshi, and hes the editor of a new book, the trump indictments. The 91 of the former president of the United States and i currently have an autographed copy. Which is, stephanie, you are a not but you are minot and for that insult you are not getting the first question. , tristan snell, its your first visit to the 11th hour. So, help us out. The well known now trump defunct university. What is your reaction to what you are seeing, what he is saying about the courts right now . None of this and the standard first move for anything and the the his jam. Thats what he does. We are seeing it now with more of a microscope on, and not just posting onto social. We are seeing both. Hes posting these things and, ranting and raving in the courthouse, and take that person pointing in the courthouse, take the out of the stupid here and all of that stuff and put him in shabby clothes. He would be pulled away. And he would be placed in contempt. He would not get a warning. He would not get a gag order, if we hold off to records for tonight. That is still treating him with Special Treatment but we are still seeing and and they all of these cases it is all happened. How much of a Grand Slam Home Run is the Special Treatment, ali velshi, because even if the judge is putting thislimited gag order on him and hes being told to sit down and shut up inside the courtroom, we are watching him outside the Courtroom Push Lie after lie about his network to a giant audience, just like, what was it . Two weeks ago, when, in front of a big giant audience and his nra loving base, this is south carolina, bang, bang, bang. While under indictment for. Times while under indictment and privately his legal team and pr team is saying didnt actually. But hes getting the upside of the megaphone of lies. I would think any judge wanted to be the one who wanted to give him a gag order, and frankly, to enforce that gag order because no one wants to be the one to send a couple of cops to put the one on donald trump if they have to. He insulted he named put a picture of the judges staff. Like at this point he force this guys hand to do something. But yeah, nobody wants to play into this, because they no, anything you do to donald trump no judge, no prosecutor, wants to spend all the time dealing with this stuff, because it does work in his favor. He somehow convinces his base that he is getting Special Treatment in the wrong direction. I dont know. I worry that even if there are successful prosecutions in some of these cases, not the new york case, because that the civil suit, but even if there are, donald trump will play this to his advantage. Its all part of the grievance narrative, and i dont know how you get out of this one. I think justice has to move slowly improperly here and make sure that all of these ts are crossed and the is are dotted. Katie, whats your take on the judges move . The move to gag donald trump, i think she felt forced because she was genuinely worried that her clark was going to be harmed. The person was named. I will not repeat this persons name. The person was named, it was an implicit threat, and this cant go on. But i think everybodys point about this being Donald Trumps playbook, its true that in some ways politically helping him. But if a judge feels a need to enforce a gag order or even a night or two in jail, its interesting, but what happens next . This is what we havent seen. We havent seen Something Like this Behavior Colliding with a campaign. Do the republicans who are trying to defeat him, do they double down . Do they stop treating him with kid gloves . I, mean seeing a candidate in jail is a really powerful thing. Seeing somebody punished in that way is an extremely powerful thing. And there is the wild card of his own supporters. We havent seen anything truly violent or dangerous since january six, but this is a lot of heated rhetoric. Hes asking his followers to attack people. He is telling his followers that the criminal Justice System is illegitimate. He is saying that judges are illegitimate and he is saying that whatever decision is made is going to be a crime against him. So i think that what we are going to see is a tenuous few months. Also, for the president ial race and for the other candidates, as they decide whether or not they take care of whether or not they respond to this problem, which is in some ways both a Criminal Justice problem but also an inherently political problem. Tristan snell, trump says he will testify at the right time. I cannot imagine he would testify under oath. If he just saying that to flex for his base . To make people believe hes running the table . There is no right time for him to testify. Certainly his lawyers dont want him to testify. I dont know if he is actually going to do. It i think youre right that its a flex, just even saying that he might, is a flax. If he does do it, what does he have to gain . Its entirely political. I think he loses legally but we have to remember he has already lost this case. This is the most important part. He has already lost. He already lost. The worst outcome that could have come from this trial has already been handed down. And that is for the corporate licenses to be canceled and for the properties are likely going to be liquidated. These properties are probably gonna get sold at auction, thats probably whats gonna happen. We dont know that for sure yet, thats probably where this is headed. He is already really in trouble. Hes not really going to add that much more to the trouble by testifying, but it will give him, unfortunately, a chance to be basically have a chance to say all of his crazy stuff and flex in front of his audience and then turn around and raised donations. A fifth. What about the golly gee dom dom i dont know . Stuff. Trump, oh, i dont know, ask allen weisselberg. Anything that has to do with numbers, than allen weisselberg. Well im not actually a cpa, and even don jr. , yes i went to wharton but i cant spell gap. Does that fly in a court of law . No. And they tried it today because in that gap. There was an accountant who was testifying that he based his returns on the information the trumps gave him, and weisselberg. And under Cross Examination the lawyer, the trump lawyer was saying, its up to you, youre the accountant. You should know whats right or wrong. First of all, every american knows that doesnt hold up in any court. But in 2001 in 2002 there were all those corporate scandals in america, and iran and in congress with the Sarbanes Oxley not a defense. Its very clear, in this country, accountants can be involved in the fraud, but its garbage in garbage out. You give your accountants not full information, its not their responsibility. On top of all this, you have Michael Cohen who came before congress and testify that no Financial Decisions were made in that Company Without Donald Trumps approval and consent. It wasnt some big giant corporation. Correct. It was a little circle of 14 people. The entire thing was 14 people. He was involved in every single decision. He micromanaged everything. At the end of the day, as the law says, as you are all our pointing out, the buck stops with the ceo. And you are responsible, legally, for what gets put into the statements. Correct. And now you have to sign it. With his dumb toddler signature. We are not going to say dumb toddler. We are not. It was his signature. Im sorry, katie. These two hugged all the time. Katie, like everything in life, blame it on ali velshi. Thats how i get. By katie, you are welcome to come on my show katie benner, tristan snell, and ali velshi ftx founder Sam Bankmanfried goes on trials for a billions within a b. 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I dont ever want to go back to wearing a 4xl shirt or not being able to climb up stairs without taking a break. So im committed to golo for life. Last year he was cryptos golden boy, the king. But today, Sam Bankmanfried is officially a criminal defendant, staring down more than 100 years behind bars. Jury selection for the first of two criminal trials involving him started today in new york city. In this trial alone he faces seven criminal counts related to the collapse of ftx, his crypto empire. Here to discuss, two reporters who were inside the room today, david gura, Business Correspondent for npr, zeke faux, Investigative Reporter for Bloomberg Business week, hes the author of the new book and must read, numbers go upinside cryptos wild rise and shattering fall. And ali velshi is still here because i can never get rid of him. Zeke, you wrote the book. Take us there. The big news was that he got a haircut. Its true. It had to have been a big haircut. There was a lot of hair. [laughter] his image was key did you just say he the whole way up he had this image of the boy genius, the unruly hair, who wouldnt put on pants, even when he was on stage with bill clinton or meeting with the ceo of goldman sachs. But the federal Fort Corona Size a bit he was wearing a gray suit and his hair looked, he kind of had a cesar, and oh my god, i need to see this. He managed to keep his tapping and fidgeting under control. Okay, but those are just aesthetics. What happened . Today was the first day of jury selection. About 100 people were cycled through the courtroom. The judge was trying to ask a series of questions, ascertaining who might be in that group of 12 plus six alternates during the course of the trial. There was a moment where the judge allowed, youve probably heard of this case, maybe a you have heard of Sam Bankmanfried, then you see the reaction along some of these prospective jurors when they came out and saw this very recognizable figure. Questions about crypto, have you invested in crypto, two people said yes. And they lost money doing so. So were getting sense of whos gonna be in that jury box. Theres also a really important signal moment when the judge turned to Sam Bankmanfried inside look, its my responsibility to tell you this. You have the right to testify. Your attorneys may advise you not to do that. Its a right to do so if you want to. You let me know when you can do it. I think thats a huge Open Question is whether hes going to do it. Hes been so outspoken probably to his detriment through all of this. Whether you testifies will be interesting to see. Ali, what does all this due to the brand of crypto . Do you remember how everyone was piling on to this . It seemed like the City Of Miami was financing crypto. People were driving lamborghinis made of crypto. What does this trial do to the brand . Take something simple like electric cars, or selfdriving cars. People dont trust them until they seen enough of them and they see people they trust being involved in it. This doesnt help. Most people couldnt get their heads around crypto to start with. It was fun for hipsters and things like that but for an Investment Vehicle it was tricky. To find out that sams company was comingling its money with another company that was run by his girlfriend, who he threw under the bus before this trial, who was going to testify against him. It makes you understand, why dont i stick to things i understand. I dont think for the mass unwashed out there who are not involved in crypto that anybody is running to get into it. Included or excluded . That was part of his brand. It was part of his brand. Crypto did never become really big with the retail trading audience. It did for some people. But it wasnt as big as getting into stocks for ten bucks a trade. But it became big with some of the biggest movers and shakers in finance, some of the most famous people in the world. Take tom brady and giselle bundchen. They were deeply in business, where are all these major celebrities now, and fine years that shoulder to shoulder. Hes like, i dont know, it seemed like Tom Ready Brady was enthroned by him. Him really enjoyed. And thedont seem to be in court today, do they . No, but they have collected tens of millions of dollars for just saying hey, im in on ftx. I saw brady onstage in the bahamas with sam when things were going great. It was truly one was boring speeches ive ever seen, that are just like hey, sam, how do you feel about winning . Isnt it great . And sam was like oh yeah. Could they really get in trouble here . In theory theyre just civilians pushing a product. If you are somebody who has the securities license, if you have a series seven or 63, you cannot push a product that you know is crap. But for the rest of these celebrities, and theyre going to get in trouble . Theyre being sued, but i think youre right. They appeared in ads. Its unlikely that they actually knew that the crypto cause you know they were endorsing was having all the money stolen out the back by its founder. I think it will be a tough case to say brady is the one to blame. It wasnt just a product here, right . Quick crypto is a weak product. Crypto is a criminal enterprise. Walk us through what he supposedly did. He had these two funds, he had a hedge fund that he started. Ftx was the exchange. When the Crypto Industry had this downturn, late last year, this Eight Billion dollar hold developed in the Balance Sheet and hedge fund, and to fill that hole, he authorized gave a blessing to moving Customer Money to fill that hole. Did i get that right . [laughter] thats a major crime. So how does anyone, and i am looking at you, Michael Lewis, who wrote this book, hes getting a lot of press for it, Michael Lewis has agreed with what david just laid out but he basically said listen, maybe hes the mastermind behind a big criminal enterprise, or maybe hes just a guy who maybe is on the spectrum, so maybe doesnt know how to run a big business and shouldnt have run a big business. Those seem like very different things. That really sounds like youre giving this guy a free pass. Seriously, especially because the prosecution has a Tape Recording of caroline ellison, the head of the hedge fund, the ex girlfriend, right after it collapsed, she confessed to her whole staff, and she said, we had a meeting, our hedge fund was going to fail unless we dipped into the customer funds. We decided, lets do it. And the staff was shocked. One of them said, wait, who decided this . And she was like, sam made the decision. So shes gonna testify against him. He can say now, oh she will say anything to save herself, but they have a recording of her saying this even before criminal charges were contemplated. How long should the trial last . Six weeks. Its like enron, they have a lot of people underneath him to turn. They dont need him at this point. Theyve got evidence, texts, hes been involved in all the stuff. The discovery could be as tall as three willis towers, thats the discovery from the defense office. They will show a lot of the trial. Sounds like trump. In the meantime he sitting in prison . He is, in brooklyn, in a jail in brooklyn, in sunset park. He came in and they gave him an ergo laptop, you saw him lighten up. And he typed throughout the entire. Thing ive been a loud pretrial hearings with him, he seems down drawn, but just having the computer program. He never felt comfortable in that he was typing on his computer. Even if youre talking about something really serious hed pull up a video game and start playing. Its a funny you say that. Ive had a few phone call was down in the last, year and every time it fully hurt my feelings. Maybe im a dragon. But i never measured up to dungeons and dragons. David gura, zeke faux, ali velshi, good to have you. You better come back as the trial goes on. You two better come back . Theres three of us. You said to me im not but im here. Not your my chopped liver. When we come back, holding on to it is another. Ill be back in just how historic today wise for Kevin Mccarthy and our country, when the 11th hour continues. Ah, these bills are crazy. She has no idea shes sitting on a goldmine. Well she doesnt know that if she owns a Life Insurance policy of 100,000 or more she can sell all or part of it to coventry for cash. Even a term policy. Even a term policy . Even a term policy find out if youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. Our new speaker, the gentleman from georgia, newt gingrich. The gentlelady from california, nancy pelosi. I now have this gavel and the sacred trust that goes with it to the new speaker. God bless you, speaker. The Speaker Of The House, congressman and honorable paul ryan. [applause] thank you very much. The last thing we do tonight, history on the hill. What does every Speaker Of The House before Kevin Mccarthy have in common . None were removed from the speakership before the term ended. Kevin mccarthy and those on the right who wanted him out have made history today. The Washington Post points out that in recent history several speakers have resigned amid intraparty threats on the vote on their ouster, notably john boehner in 2015 and gingrich in98. But the house had never removed a speaker, and it hadnt held a floor vote on removing a speaker in well over century. And 1910, an effort to oust Republican House speaker joe cannon. In the end he was removed from the Rules Committee but survived the motion to vacate vote. An article from the times said this, quote, the insurgence insurgents refused to cause a state of chaos by bringing on the election of a new speaker. Sadly, we know all too well the todays Republican Party is not afraid of a state of chaos. Our friend president ial historian Michael Beschloss put it this way about mccarthy. He is the opposite of a political leader. The strongest speakers of the house in American History have been people like sam rayburn or tip oneill. They were people who were respected by their colleagues and feared by their colleagues. You tell me, do we think that Kevin Mccarthy was respected by many or any of his colleagues or feared by many or any them . He was elected in the end because he was captive and because he was weak. He is a profile and weakness. He stands for almost nothing, and this was for ordained in january. I found Michael Beschloss takes us off the air after another unprecedented day in American History. And on that note, i wish you a very good night. From all of our colleagues across the networks of nbc news, thanks for staying up late. See you at the end of tomorrow. Meet the portable blender we can barely keep in stock. Blendjet 2 gives you icecrushing, big blender power onthego. So you can blend up a mouthwatering smoothie, protein shake, or latte wherever you are recharge quickly with any usb port. Best of all, it even cleans itself just blend water with a drop of soap. What are you waiting for . Order yours now from blendjet. Com before they sell out again you know i got two home runs. You got two jacks. And then my grand slam. I signed a ball for you. Okay. And it says papa i love you. Why did you do that . Because youve taught me everything about baseball. Oh hunny bunny, thats so sweet.
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