• Sports

    Exclusive: Dallas Cowboys Quarterback Dak Prescott Calls for Release of Black Death Row Inmate Julius Jones

    'Current events are shining a much-needed light on deep-seated prejudices and systemic mistreatment of black people,' Prescott writes

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  • Lifestyle
    In The Know

    Store owner slams ‘teen influencer’ over ‘entitled’ social media request: ‘Please stop asking’

    A small business owner is going viral after calling out an alleged “teen influencer.”

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  • Politics
    The Daily Beast

    The Footnote That Could Lock Trump Up in 2021

    Donald Trump enters the final months of the 2020 campaign under a dark new cloud: public confirmation that he, his companies and his family are the focus of a wide-ranging criminal investigation by Manhattan District Attorney Cyrus Vance. As Attorney General William Barr ramps up his scheme to misuse the Department of Justice to interfere with yet another presidential election in Trump’s favor, Vance publicly confirmed on Monday that Trump is in the crosshairs of a wide-ranging grand jury investigation—but only because Trump himself all but begged Vance to make that announcement.Enterprising reporters, aided by public records and occasional leaks— including of old tax records by Trump’s niece, Mary Trump—have spent the past several years piecing together a sordid tale of potential tax and insurance fraud (not to mention frauds upon disfavored family members, like Mary) stretching back decades in the Trump Organization. Unsurprisingly, prosecutors took an interest in the same transactions, leading Vance’s office to seek Trump’s financial records. For over a year, Trump’s been engaged in a litigation campaign focused on preventing a grand jury Vance empanelled from obtaining those records from Trump’s accountants. Now, that campaign has backfired.Manhattan DA Cyrus Vance’s Trump Case Hinges on Tax ReturnsThings had already been going badly for Trump in this legal fight but he bought time as the case made its way up to the Supreme Court, which ultimately rejected his argument, reasoning that “the public has the right to every man’s evidence.” The high court then returned the matter to a district court, while affording Trump with little remaining basis to object, in the absence of any reason to conclude that the subpoena will interfere with his official duties.It is well established that grand juries have wide latitude to conduct investigations. As Supreme Court Justice Robert Jackson put it, a grand jury “can investigate merely on suspicion that the law is being violated, or even just because it wants assurance that it is not.” Therefore, if Trump had been astute, he would have accepted the high court’s decision and given up on his effort to block Vance’s subpoena. But Trump chose to overplay his hand. Last month, the president’s lawyers declared that the nature and scope of Vance’s investigation is limited to an inquiry into Trump’s illicit efforts to funnel hush money payments to former sexual partners during the months leading up to the 2016 election through his fixer, Michael Cohen, and contended that the purported narrowness of the inquiry meant that Vance had no right to make a broad demand for Trump’s financial records.Yet Trump had no basis to make declarations about the scope of the DA’s investigation; indeed, the only detailed explanation Vance has offered to date is contained in a (properly) secretly filed portion of a declaration by one of his prosecutors that has been reviewed only by the court. Furthermore, by making uninformed assertions about the scope of the investigation, Trump was all but daring Vance to comment about the nature of an ongoing investigation in the run up to an election.And that is just what Vance’s attorneys did, albeit obliquely and with careful attention to grand jury secrecy rules, in a brief filed Monday in opposition to Trump’s desperate last-ditch effort to prevent disclosure of his financial records. After noting that the DA has no obligation to disclose the nature or scope of an ongoing criminal investigation in response to a challenge to a subpoena—let alone improperly disclose grand jury evidence – Vance’s office stated that Trump’s claims about the supposedly limited scope of the investigation “is fatally undermined by undisputed information in the public record.” The DA’s brief then went on to quote the judge himself, who months ago—after reading Vance’s secret account of the matters under review—observed that it is related to “alleged insurance and bank fraud by the Trump Organization and its officers.”But Vance’s office did not end there. In a significant footnote, the filing cited articles from The Washington Post and Wall Street Journal that address some of the wide-ranging evidence of fraud by the Trump Organization that journalists have uncovered over the past several years, which have included allegedly overvaluing assets to defraud investors, bank lenders and insurers (as well as allegedly undervaluing them to defraud disfavored heirs like Mary Trump). Vance’s lawyers did not expressly say that Trump is under investigation for this smorgasbord of financial crimes. Yet Vance can hardly be blamed for creating an inference of potentially wide ranging illegality by the president. After all, Trump’s lawyers all but demanded it by challenging the DA to explain why his grand jury’s subpoena was not overbroad.As a result of his own lawyers’ bad strategy, Trump enters the final stretch of the campaign with the cloud of a broad criminal investigation hanging directly over his head. That investigation is highly unlikely to end before Nov. 3; indeed, Trump’s continued, and all but certainly futile, efforts to stymie the DA’s inquiry make it all the more certain that the investigation will continue for months, regardless of whether Trump, or any of his companies and associates, are ultimately charged, let alone found guilty. All of that would have been properly kept confidential as the grand jury continued its work if Trump’s own lawyers hadn’t opened this can of worms. It’s a can of worms that Trump is familiar with, given how Comey’s serial misconduct in commenting on the FBI’s investigation of Clinton, in contravention of department of justice policy, may well have cost her the election. Notably, it was Comey’s mistreatment of Clinton, rather than any supposed conspiracy against Trump, that Rod Rosenstein cited in recommending Comey’s dismissal to an approving then attorney general Jeff Sessions, with Rosenstein calling Comey’s conduct “gratuitous,” and a breach of the “traditions of the Department and the FBI.”One person who disagreed with that judgment, however, was then private citizen William Barr, who declared in October 2016 that Comey “did the right thing” by reaching out to taint a presidential candidate on the eve of an election. After taking office as attorney general, Barr has made his contempt for the longstanding DOJ policy against using ongoing investigations to engage in political theater even clearer.Trump’s own effort to replay his success of 2016 by ginning up a public announcement that his current opponent, Joe Biden, was the subject of an investigation by Ukraine for a non-existent crime not only failed, but ultimately resulted in his own impeachment. But Barr has since stepped into the breach, repeatedly peppering his public statements with hints that his own personally designated investigator, Connecticut U.S. Attorney John Dunham, may soon be releasing a report, and possibly indictments, calling into question the bona fides of the FBI’s (as well as Robert Mueller’s) investigation of Russian criminal interference in the 2016 election, and the Trump campaign’s welcoming thereof.Asked how he reconciles his repeated promos for potential dirt on the DOJ’s investigation of Russian crimes committed during the last election in the midst of the 2020 campaign with his department’s policies, Barr disingenuously asserts that it’s OK, because Biden himself is not the target of the investigation. But the policy (which Barr recently adopted himself) provides that the department “may never select the timing of public statements (attributed or not), investigative steps, criminal charges, or any other action in any matter or case for the purpose of affecting any election, or for the purpose of giving an advantage or disadvantage to any candidate or political party.” Furthermore, as Joshua A. Geltzer and Ryan Goodman, recently observed, based on Barr’s record, we can count on Barr to “distort [Durham’s] conclusions in a way favorable to President Trump’s political ambitions,” While Hillary Clinton may have lost her bid for the White House because of an investigation that fully cleared her of claims of criminality, the public is now so inured to Trump’s parade of misconduct that Vance’s court filing was not even front-page news. Yet the fact that Trump has now been publicly identified as the focus of a law enforcement investigation of potentially systematic criminality will make it all the more difficult for the president and his DOJ consigliere Barr to effectively employ innuendo to taint Biden. After all, as Vance just told a court, the president himself is now fully embroiled in an investigation of “possibly extensive and protracted criminal conduct at the Trump Organization.” Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.

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  • Business

    The Robinhood Craze Is Now Moving Stocks Everywhere

    (Bloomberg) -- Dirt cheap, automated on apps and championed by newbie traders who brandish their broker balances on Twitter, the stuck-at-home trading phenomenon, born in the USA, has become a global craze.Retail’s tentacles are everywhere. In the U.K, tax-free savings account openings at Interactive Investor jumped 238% for investors between 25 and 34 years of age in April and May. In India, newly minted day traders are crowing after falling in love with stocks that trade below 7 U.S. cents apiece and riding most of them straight up. Small-time investors in Moscow bought almost twice as many Russian shares in June than in April. In Malaysia, individual buyers are at least partially behind giant rallies in medical glove makers -- one gained more than 1,500% this year. In Japan, tiny investors boosted an obscure biotech venture with seven straight years of losses by almost 11-fold on optimism for an unproven coronavirus treatment.With savings accounts paying out nearly nothing and people finding extra time while working from home, amateur investors who’ve gotten a taste of stock market may become a permanent feature. The trend is being fueled by zero-fee trading apps like Robinhood that have not just simplified day-trading but gamified it. Relentless support of global central banks has also buoyed equity markets despite the worst economic fundamentals in living memory.“Via news and social media, trading has become the talk of the town. The ease of access, low costs and large moves of many stocks since March have been key drivers,” said David Friedland, Asia Pacific managing director at Interactive Brokers. “The line between institutional and retail continues to blur and retail certainly have shown their ability to move markets.”The pandemic has kept millions at home just as low-fee trading platforms spread from America to the rest of the world.As No-Fee Trades Spread, Here’s Why There Are Limits: QuickTake“Zero fees are especially beneficial to day traders or scalpers whose participation in the markets are now virtually free. The super-nimble and sophisticated day traders will have a field day,” said Margaret Yang, a strategist at DailyFX. “But there is no free lunch in this world. Higher return is positively correlated to higher risks.”Warnings like that are everywhere, though doing little to calm the fervor. Professional investors have watched with a combination of amusement and envy as retail investors mostly rejected the tenets of fundamental investing and bought companies at staggering valuations. So far, it’s working for them.Japanese venture Tella Inc., which says it’s developing a coronavirus treatment under limited testing in Mexico, is the top-performing stock of the country’s around 4,000 listed companies this year. A Korean maker of a malaria treatment, Shin Poong Pharmaceutical Co., surged 987% this year to be the top gainer on the nation’s benchmark Kospi.“The interest in trading and investing on the part of newcomers, especially millennials and Gen Z, whose time horizon until retirement is 40-plus years, is likely to remain elevated and is one of the main reasons for higher stock prices in 2021 and beyond,” said Julian Emanuel, head of equity and derivatives strategy at BTIG LLC in New York.Reality CheckMany of the same themes are playing out across the globe. With the virus foremost on almost everyone’s mind, traders flocked to the dozens of companies developing vaccines, treatments and tests, driving a range of pharma and biotech companies. An index tracking Asian health-care stocks is trading at all-time highs.Individual investors also piled into initial public offerings of biotech companies in Hong Kong and left almost nothing for anyone else. In April, Akeso Inc., a Chinese developer of immunology and oncology treatments, said retail investors had put in orders for 639 times the amount of stock initially made available to them. That feat was exceeded by ophthalmic therapy developer Ocumension Therapeutics’s offering in July, which drew a staggering 1896-times retail subscription, the second highest in Hong Kong this year.One adage of investing seems to have survived the retail invasion: Fidelity Investment legend Peter Lynch’s advice to “invest in what you know.” The shift online has spurred many digital natives to buy into the services they’re using.“All the technology shares have been on a stellar rally,” said Edmond Hui, chief executive officer of Bright Smart Securities, pointing to stocks such as e-commerce giant Alibaba Group Holding Ltd., Chinese food delivery behemoth Meituan Dianping and smartphone maker Xiaomi Corp.His Hong Kong-based platform saw new accounts increase more than 200% last quarter, and trades on its platform jump 57% on year. “It’s natural for them to switch to these new technology sectors.”For now, stocks globally have done well. But the market that keeps going up must inevitably -- if only just temporarily -- come down.“This will be the new normal until we get a material correction lower in equity markets,” said Jeffrey Halley, a senior market analyst for Asia Pacific at Oanda Asia Pacific Pte. “Financial markets can be harsh mistresses, but retail traders arriving in the last four months have yet to be given the savage education of two-way pricing risk.”“The longer the rally goes on, the more savage the reality check will be.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • World
    ABC News Videos

    Student suspended after showing fellow students without masks

    The student recorded a video showing a packed hallway and students without masks inside a Georgia high school amid the coronavirus pandemic.

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