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In honor of Asian American and Pacific Islander Heritage month, StockCharts spoke with a few individuals in the financial industry to hear about their challenges and experiences that have helped shape their careers in finance.

Tony Zhang, Chief Strategist at OptionsPlay, started in the financial industry at a very young age. His engineering background and passion for the financial markets give him a unique edge—the ability to develop an innovative options trading and analysis platform for institutional and retail traders. Tony assembled a team of developers, designers, and quants to create the OptionsPlay product suite. He also established and managed partnerships with leading options industry institutions.

How did he get to where he is now? It has to do with his mentors, his passion, his drive, and his Asian American heritage. Tony talks about how his love for finance brought him to the options world.

Tony, could you tell us a little bit about your background?

My parents are of Chinese/Japanese background. I was born in Beijing and moved to NYC when I was about five. I consider myself a New Yorker at heart. Having grown up as an adult in downtown Manhattan, living just steps from Wall Street, I’ve always been close to the financial industry and have been drawn to it.

How did you get interested in the financial markets, especially options?

I honestly didn’t know much about finance before starting college. What I did know was that I wanted to stay in NYC.  When applying for colleges, I was accepted into many engineering degree programs, but they were in locations that I wasn’t excited about. I ended up picking CUNY Baruch because of its location. It was in NYC.

I fell in love with the financial markets and the complexity of markets. And I put my engineering skills to tackling trading options. And now, I get to work in an industry that I am deeply passionate about and combine product engineering with my love for educating at OptionsPlay.

The biggest takeaway from my background is an incredibly strong work ethic.

That’s fantastic. You’ve had over a decade of experience in this industry. What are some of the challenges you faced?

I would say one of my biggest challenges was that I started working full-time on Wall Street when I was 19. That was tough. Most people in the industry and clients have trouble reconciling my age with the experience that I have.

How has your heritage shaped the person you are today?

I come from a stereotypical Asian family background. It was heavily focused on education and extracurricular activities that best helped my chances of getting into a good college and put me on the path to a promising career. I would say that I always seemed to march to the beat of my drum and, because of that, was quite rebellious. I am extremely lucky and grateful that I found an industry I was passionate about.

The biggest takeaway from my background is an incredibly strong work ethic. My days have been fully scheduled from 7 am – 9 pm most days from when I was about 10 or 11 till the end of high school. This has made me incredibly resilient when faced with hard work.

What do you like most about trading options? What do you like least about it?

I love the flexibility of trading options. It allows you to create a specific payoff based on any specific views you might have on any asset. Whether you believe an asset will rise a lot, a little, fast, or slow, there’s an options strategy that can allow you to profit from it.

What I probably like least about options is the notion that options are a tool for gambling and getting rich quickly.

There’s a learning curve involved in trading options. Who are some mentors who have influenced or helped guide you?

When I started in the options business, my most influential mentor was Tom Sosnoff. He’s a trading junkie, and he got me hooked.

But the most important lesson I learned outside of technical analysis and options trading was trading discipline. I had to learn how to be introspective about my emotions while I was trading. Successful traders have the ability to understand how, during times of stress, their emotions affect their decisions. And honestly, I learned discipline and how to manage my emotions from playing poker.

That’s interesting, but it makes sense. The market can be challenging and is known to move in the direction you least expect it to. Let’s talk about the market. There’s so much uncertainty at a macro level, yet the VIX is relatively low. How does this help or hurt options traders?

The current low-vol environment is an opportunity for options traders. You can buy convexity cheaply on the upside or downside movements of markets. I advocate for some of both, since it’s hard to know precisely which way markets will move. For example, if debt ceiling talks collapse, the market may move substantially. If the market explodes to the downside, put buyers will be rewarded quite a bit.

What is a put? A put is an options contract to sell an underlying asset. A put buyer has the right, but not the obligation, to sell the underlying asset at a specific price. A put seller has the obligation to buy the underlying asset if the put contract is “exercised” by the buyer.

So, if the market were to explode to the downside, what are some basic options strategies investors or traders can take advantage of to hedge their portfolio positions?

Generally, as a hedge, you want to look at one to two-month puts on the SPDR S&P 500 ETF (SPY). You could also consider put spreads—buy and sell put options simultaneously—while collecting some income by selling covered calls to pay for those puts.

What are you looking at in the markets?

I would suggest three trade themes at the moment.

Look to buy one-month put spreads on the market using ETFs such as SPY or Invesco QQQ Trust (QQQ) as a tail hedge against a Fed default.Look to sell upside calls or call spreads in overvalued and overbought sectors, such as Tech and Consumer Staples, to generate some income.Look to buy some upside calls in heavily oversold sectors such as in the Financial sector and regional banks.

PUT SPREADS ON THE SPY. To access options data in the StockCharts platform, follow this path. Your Dashboard > Charts & Tools > Options (under Summary Pages).Source: StockCharts.com. For illustrative purposes only.

These are strategies that people who want to dabble in trading options can start thinking about. Thank you so much for sharing your thoughts, Tony.

With seconds to go in the seventh period of the hockey game last night, a goal was finally scored in the Carolina Hurricanes vs. Florida Panthers. It was a long game, a tiring game and only the first game of this playoff series. What we always do when a game goes on, is we look back in history to see where it ranks. This was the sixth longest game in NHL history. There are six more games in the series. Should be a battle!

Much like the game last night, there are times when stocks go on extended runs, far outside what is expected. The stock breaks into the top echelon of historic moves. When a stock goes on a historic run, there is no real way to know when it will end. Typically multiple 5% or 10% days close together tell you that you are getting close to the end of a run. Might not be a final run, but it is enough to stop the euphoria for a while. One of the most interesting markets for studying euphoria was the dot.com boom that lasted for years.

Scott McNealy, the CEO of Sun Microsystems talked about the peak and the valuation of Sun Microsystems at the Nasdaq market top. Bloomberg interviewed Scott in March 2002 looking in the rear view mirror. This was from an interview long after the top, from Bloomberg.

At 10 times revenues, to give you a 10-year payback, I have to pay you 100% of revenues for 10 straight years in dividends. That assumes I can get that by my shareholders. That assumes I have zero cost of goods sold, which is very hard for a computer company. That assumes zero expenses, which is really hard with 39,000 employees. That assumes I pay no taxes, which is very hard. And that assumes you pay no taxes on your dividends, which is kind of illegal. And that assumes with zero R&D for the next 10 years, I can maintain the current revenue run rate. Now, having done that, would any of you like to buy my stock at $64? Do you realize how ridiculous those basic assumptions are? You don’t need any transparency. You don’t need any footnotes. What were you thinking?

Nvidia

From Twitter this morning, the Price to Sales ratio for NVDA is now 28. You can’t believe everything you read on Twitter, so I went to StockCharts NVDA stock summary to check it out. $Market cap of $770B on sales of $27B. That works out to 28 times. All things AI, all things cloud, and NVDA is living in the sweet spot.

Does that mean it will sell off? Absolutely not. Anything could happen. It could double from here. What could possibly drive a stock to such high market valuations relative to earnings?

Artificial Intelligence (AI)

How the world has changed. I grew up on a farm and Artificial Insemination was AI. Western Breeders Corp was shipping temperature controlled packages world wide for AI. But that is a different AI. Today, something has changed and AI is artificial intelligence.

We are entering the big game of AI. When you listen to an earnings call, you go in knowing that every staff writer of earnings talking points has been adding ‘AI’ to every paragraph. These talking points for the call make sure the world knows the company is ready for the future. This is the search trend for AI over the past 5 years. It only started accelerating in the last 6 months.

The recent SPAC boom last 9 months from mid 2020 to March 2021. Remember those heady stock surges? That was a pandemic induced cash surplus as all the stay at home traders wanted to buy the next big thing. What could possibly compare to that run?

How about Nvidia. NVDA. It is a beautiful chart. Next week we could retest the highs of 2021. The stock had 4 weeks of back to back big gains into the 2021 top.

The PPO is very stretched and sitting near the highs of the previous two PPO peaks. Interestingly, the volume is nowhere near as big. I will point out that in both of the previous big rallies, it was well after a breakout from a consolidation, not the first week after a consolidation, that the stock topped. This could run a whole lot longer.

Overall Market

With that said, the market has gone from a sideways grind for 6 weeks to euphoria in 4 days. Has it ever been this euphoric? This is nothing. It is barely the start of a rally. We do not have to look back at history very far. The vertical lines mark the options expirations. Some have been ignored and some have been worth respecting. March 2022, May, June, July, October and March 2023 were nice upside reversals. April 2022, August, December and February were downside reversals. My only comment is to be aware of the potential for reversals on options expiration.

I am glad we finally resolved to the upside. Quite frankly, looking at the indexes, it looks like higher is the new direction. What is the one fly in the ointment?

Bond Yields

Each week, I look through the charts for intermarket clues as to what is going on. The ten year yield is starting to accelerate higher. The bottom panel is the yield PPO. When the 10-year Yield PPO moved above zero and/or above a trend line near zero, it also marked some turning points for stocks over the last 1.5 years. We are at that moment on Friday. While I am not able to draw a vertical line on the April 2022 $SPX high, notice how the PPO for the 10 Year stayed above zero all the way to the July low in the equity markets.

The chart has not been able to stall the market, and pessimism is lifting, mine included.

I like the up week we had, with some positive days back to back. Bullish unless we see some of the bond pressure start to dampen stock enthusiasm. Clearly, stocks like NVDA are leading us higher, and that could continue. Banks, energy, software have all turned higher and I feel like those may be better entries than a semiconductor name at 28x revenue.

More in the weekly newsletter to clients, which is available for $7 covering the first month at Osprey Strategic.

Disney has abandoned plans to open up a new employee campus in Lake Nona, Florida, amid rising tensions with the state’s governor.

Citing “changing business conditions” and the return of CEO Bob Iger, Josh D’Amaro, chairman of Disney’s parks, experiences and products division, penned a memo to employees Thursday, announcing that the company will not move forward with construction of the campus and will no longer be asking more than 2,000 California-based employees to relocate to Florida.

“This was not an easy decision to make, but I believe it is the right one,” D’Amaro told employees.

Many Disney employees balked at the company’s relocation plans when they were first announced in July 2021 by former CEO Bob Chapek. While some left the company, or transitioned to other posts within Disney that would not require a move to Florida, others held out hope that the plan would fizzle out after a postponement. The campus was originally slated to open in 2022-2023, but was later delayed to 2026.

Disney is headquartered in Burbank, California, but operates a number of satellite offices across the country and the world.

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D’Amaro said employees who have already moved to Florida may be able to relocate back to California.

“It is clear to me that the power of this brand comes from our incredible people, and we are committed to handling this change with care and compassion,” he said.

Disney’s announcement comes amid a bitter feud between the company and Florida Gov. Ron DeSantis. The company filed a lawsuit accusing DeSantis and the new board members of its special district of carrying out a campaign of political retribution against the entertainment giant.

DeSantis targeted Disney’s special district, formerly called the Reedy Creek Improvement District, after the company publicly criticized a controversial Florida bill — dubbed “Don’t Say Gay” by critics — that limits discussion of sexual orientation and gender identity in classrooms.

The special district has allowed the entertainment giant to effectively self-govern its Orlando parks’ operations for decades. The district was ultimately left intact, but its five-member board was replaced with DeSantis picks and renamed the Central Florida Tourism Oversight District.

Walt Disney World on Aug. 30, 2021, in Lake Buena Vista, Fla.John Raoux / AP file

Disney filed its suit in late April after the new board voted to undo development contracts that the company said it struck to secure its investments. The company has since updated that lawsuit to include newly passed legislation targeting its monorail system as further evidence of retaliation by the governor.

Iger has publicly lambasted DeSantis and the Florida government, noting that Disney has created thousands of indirect jobs, brings around 50 million visitors to Florida every year and is the state’s largest taxpayer.

D’Amaro reiterated in his memo that the company still plans to invest $17 billion in Florida over the next 10 years, including the addition of around 13,000 jobs. The company currently employs more than 75,000 people in the state.

Disney declined to provide specific updates on that investment, but has previously announced plans to update park attractions, expand existing parks and add more cruise ships to its fleet in Florida.

“I remain optimistic about the direction of our Walt Disney World business,” D’Amaro told employees.

This post appeared first on NBC NEWS

Republican Florida Gov. Ron DeSantis said Thursday that he is one of only three ‘credible’ options in contention for the White House in 2024, and that former President Trump’s chances at winning were ‘not great,’ according to a report by The New York Times.

‘You have basically three people at this point that are credible in this whole thing,’ DeSantis reportedly told donors on a call organized by Never Back Down, the super PAC supporting him. ‘Biden, Trump and me.’ 

‘And I think of those three, two have a chance to get elected president — Biden and me, based on all the data in the swing states, which is not great for the former president and probably insurmountable because people aren’t going to change their view of him,’ he reportedly said.

Later in the call, DeSantis reportedly told participants, ‘the corporate media wants Trump to be the nominee,’ citing the criticism leveled at him by journalists and current presidential candidates.

When reached for comment, DeSantis’ political team said they had nothing to share concerning the report. However, the Trump campaign told Fox News the governor’s comments show he is being fooled by his consultants.

‘Ron DeSantis is having a no good, very bad week with two devastating losses on Election Day, and letting Disney steamroll him. Everything he is saying is exactly what consultants tell candidates to manipulate and bamboozle them,’ Trump spokesperson Stephen Cheung said, referencing DeSantis’ ongoing fight with Disney and losses by candidates he endorsed in multiple elections on Tuesday.

DeSantis is expected to officially enter the 2024 race for the White House next week after months of buildup and speculation, according to sources familiar with the governor’s decision.

The sources say he will file formal paperwork with the Federal Election Commission next week to declare his candidacy for president – news that was first reported by The Wall Street Journal.

Once he announces, DeSantis will join an increasingly crowded Republican field that includes Trump, businessman Vivek Ramaswamy, former Arkansas Gov. Asa Hutchinson, conservative radio host Larry Elder, and former U.N. Ambassador Nikki Haley.

Fox News’ Paul Steinhauser contributed to this report.

This post appeared first on FOX NEWS

Generative artificial intelligence systems are already making it easier for scammers to con elderly Americans out of their money, and several senators are asking the Biden administration to step in and protect people from this quickly emerging threat.

Sen. Mike Braun, R-Ind., the top Republican on the Senate Special Committee on Aging, spearheaded a bipartisan letter to the Federal Trade Commission (FTC) on Thursday that asks for an update on what the agency knows about AI-drive scams against the elderly and what it is doing to protect people. The letter, signed by every member of the Senate committee from both parties, asks about AI-powered technology that can be used to replicate people’s voices.

The letter to FTC Chairwoman Lina Khan warned that voice clones and chatbots are allowing scammers to trick the elderly into making them believe they are talking to a relative or close friend, which leaves them vulnerable to theft.

‘In one case, a scammer used this approach to convince an older couple that the scammer was their grandson in desperate need of money to make bail, and the couple almost lost $9,400 before a bank official alerted them to the potential fraud,’ the Senate letter said. ‘Similarly, in Arizona, a scammer posing as a kidnapper used voice-cloning technology to duplicate the sounds of a mother’s crying daughter and demand ransom.’

In an interview with Fox News Digital, Braun said ‘imposter’ scams lead to about $2.6 billion in losses every year, and he said the elderly are particularly at risk now that scammers have access to voice-clone technology.

‘We’re getting calls into our constituent services line back in Indiana already where this is coming in and happening to some extent,’ Braun said. He added that imposter scams can be done without using a fake voice but warned that ‘AI makes it even easier because it’s like talking to your grandkid.’

Braun’s staff said they have also heard a complaint about a scam that used a voice that sounded like movie and pop star Jennifer Lopez. Braun recalled a Senate hearing this week in which Sen. Richard Blumenthal, D-Conn., opened the hearing on AI with an AI-generated voice that sounded like him, reading off an AI-generated script, and said scammers have access to these same tools.

‘When you can replicate a voice to the extent I couldn’t tell if that was Sen. Blumenthal or a replication – it sounded exactly like him – just imagine,’ Braun said. ‘That is a tool that the scammers never had.’

The FTC has made it clear it will use its authority to protect consumers from AI to the extent it can as Washington policymakers look to expand their regulatory oversight of this new technology. The Senate letter to the agency suggested that the FTC update its ‘educational and awareness’ materials to help seniors understand that scammers may be looking to fleece them out of their money using AI-generated voices.

Braun said FTC efforts to create these sorts of public service messages is a good start, adding that the Senate Special Committee on Aging maintains a hotline on scams against the elderly that he expects to soon start hearing complaints about voice-clone technology. He said the reports collected by the committee could feed into legislative efforts.

Braun predicted that Washington is likely to take up more regulatory efforts in the future on AI, and it didn’t go unnoticed that OpenAI CEO Sam Altman and other industry officials who testified on AI this week seemed to be inviting more federal oversight.

‘I’ve never seen any new technology, new business, where the people that created it have been more worried about how you use it,’ he said. ‘They’re worried that if they’re going to get any monetary value out of it, they are going to have to make sure it’s well-regulated.’

‘I just think there’s no way that AI can go unchecked, and I’m glad to see the people … on the forefront are thinking the same way,’ he said.

This post appeared first on FOX NEWS

U.S. Sen. Tim Scott, R-S.C., will spend a whopping $6 million on commercial ads in key presidential primary states, despite not yet officially entering the race, a senior official on his team said Friday.

Scott will spend an initial $5.5 million to run television ads statewide in Iowa and New Hampshire through the first GOP presidential debate, the official told Fox News Digital. The sizable purchase includes broadcast TV, cable, satellite and radio.

The figure would be the largest purchase of any 2024 Republican presidential candidate to date.

Additionally, Scott will launch a seven-figure digital ad campaign through that period, the official said.

Scott has not yet joined the 2024 Republican primary, although he is expected to do so next week. He launched an exploratory committee for a potential bid in April when he said he would ‘never back down in defense of the conservative values that make America exceptional.’

The ad buy comes just ahead of a ‘special announcement’ Scott is scheduled to make at Charleston Southern University in North Charleston, South Carolina, on Monday, May 22.

The South Carolina school is Scott’s alma mater.

Despite not yet joining the race, Scott spent time in both Iowa and New Hampshire earlier this month.

The South Carolina senator hosted a town hall in Waukee, a suburb of Des Moines, Iowa, on May 6. That same week, he also headlined a town hall at the New Hampshire Institute of Politics at Saint Anselm College in Goffstown, New Hampshire.

Scott has also held campaign-style events in South Carolina, which holds the third contest in the Republican presidential primary schedule.

‘I see that America is starving for positive, optimistic leadership,’ Scott told CBS News in April.

He also said he intends to be a unifying candidate who is focused on solutions more ‘than anything else.’ Scott added that he hopes to share the story of his own humble upbringing, which he says represents the importance of the American Dream.

‘I want to provide that alternative not to any specific candidate, but for the American people,’ Scott told the outlet. ‘The difference between me and others, I believe, is that my focus is on the fact that I used to be a kid who didn’t see a future. I used to be a kid that was angry about the cards that I was dealt. I was blessed by a mother who never surrendered. I was blessed by a mentor who always loved and supported my ideal self. And it’s because of those two individuals that I now have greater faith in the future for others.’

He continued: ‘And I see my responsibility of sharing the good news of who we can be because we have been. If we can unite this country around the solutions, focusing more on those solutions than anything else, it’s my only path forward, and it’s the one I’ve chosen.’

The South Carolina senator is also a ferocious fundraiser, who would enter the race with roughly $22 million in his campaign coffer – something that could make him stand out in a growing field of Republican candidates.

Several Republicans have already launched bids to be their party’s nominee, including frontrunner and former President Donald Trump, who announced his intention to seek the presidency for a third time immediately after the November elections last year.

Former U.N. ambassador and South Carolina Gov. Nikki Haley, who shares allies and donors with Scott, has also already launched a 2024 presidential campaign.

Larry Elder, who challenged Gavin Newsom for the California governorship, also joined the race earlier this month, as well as former Arkansas Gov. Asa Hutchinson and tech entrepreneur Vivek Ramaswamy.

Florida Gov. Ron DeSantis and former Vice President Mike Pence have not yet officially joined the race, but they are expected to do so.

On the Democratic side, President Biden officially announced his re-election campaign and has said he intends to keep Vice President Kamala Harris as his running mate.

He is being challenged by Robert F. Kennedy Jr., who is the nephew of former President John F. Kennedy, and spiritual guru Marianne Williamson.

Fox News’ Paul Steinhauser contributed to this report.

This post appeared first on FOX NEWS

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Special Counsel John Durham found that there was never any information to justify opening the FBI’s original investigation into whether former President Donald Trump and his campaign colluded with Russia to influence the 2016 presidential election – a finding that contradicts years of commentary from Trump’s opponents.

Durham was appointed to investigate the origins of that probe, known inside the FBI as ‘Crossfire Hurricane,’ just weeks after then-Special Counsel Robert Mueller completed his years-long investigation that yielded no evidence of criminal conspiracy or coordination between Trump and Russia.

Here are some of the key players who furthered the Trump-Russia narrative:

Hillary Clinton, Clinton Campaign, DNC

Hillary Clinton was the Democrat presidential nominee in 2016. Her campaign, in coordination with the Democratic National Committee, spent $40 million to fund an anti-Trump dossier that contained allegations of purported coordination between Trump and Russia.

Clinton and her campaign also worked to stir up a plan to tie Trump to Russia in an effort to distract from the investigation into her use of a private email server and alleged mishandling of classified information.

Then-CIA Director John Brennan learned of Clinton’s plan, and on July 28, 2016, he ‘expeditiously’ briefed then-President Barack Obama, then-Vice President Joe Biden and other top national security officials.

During that meeting, Brennan briefed Obama and officials on the proposal from Clinton’s campaign foreign policy advisers ‘to vilify Donald Trump by stirring up a scandal claiming interference by the Russian security service.’

In 2016, the FBI opened the Crossfire Hurricane investigation into whether candidate Trump and members of his campaign were colluding or coordinating with Russia to influence the 2016 campaign.

In his report this week, Durham said the FBI ‘failed to act’ on a ‘clear warning sign’ that the bureau was the ‘target’ of a Hillary Clinton-led effort to ‘manipulate or influence the law enforcement process for political purposes’ ahead of the 2016 presidential election. Clinton’s campaign was also behind the creation of allegations that linked Trump to Russia’s Alfa Bank.

According to testimony from her campaign manager, Robby Mook, during a trial out of Durham’s investigation last year, Hillary Clinton herself approved the dissemination of unproven and subsequently debunked information to the media that alleged a covert communications channel between the Trump Organization and Alfa Bank.

Fusion GPS, Christopher Steele

Opposition research firm Fusion GPS commissioned the anti-Trump dossier. It was authored by Christopher Steele, an ex-British intelligence officer, and paid for by the Clinton campaign and the DNC through law firm Perkins Coie.

Clinton campaign general counsel Marc Elias testified that he personally hired Fusion GPS.

The dossier, which has been widely discredited, played a critical role in the investigation into Trump and his campaign.

The Justice Department inspector general revealed that the unverified anti-Trump dossier helped serve as the basis for controversial Foreign Intelligence Surveillance Act (FISA) warrants obtained against former Trump campaign aide Carter Page.

Michael Sussmann

Michael Sussmann, Clinton’s lawyer at Perkins Coie, was charged by Durham but found not guilty of making a false statement to the FBI.

The charges came after Sussmann presented to then-FBI General Counsel James Baker ‘purported data and ‘white papers’ that allegedly demonstrated a covert communications channel’ between the Trump Organization and Alfa Bank, which has ties to the Kremlin.

During Sussmann’s trial last year, Durham said Sussmann’s delivery of the Trump-Alfa Bank allegations to the FBI was part of the Clinton campaign’s plan to create an ‘October surprise’ against then-candidate Donald Trump.

The government moved to admit a tweet from Clinton dated Oct. 31, 2016, as evidence, which stated, ‘Computer scientists have apparently uncovered a covert server linking the Trump Organization to a Russian-based bank.’

Clinton also shared a statement from adviser Jake Sullivan that said, ‘This could be the most direct link yet between Donald Trump and Moscow. Computer scientists have uncovered a covert server linking the Trump Organization to a Russian-based bank.’

‘This line of communication may help explain Trump’s bizarre adoration of Vladimir Putin and endorsement of so many pro-Kremlin positions throughout this campaign,’ Sullivan’s 2016 statement continued. ‘It raises even more troubling questions in light of Russia’s masterminding of hacking efforts that are clearly intended to hurt Hillary Clinton’s campaign.’

Former FBI Director James Comey, former Deputy Assistant Director of Counterintelligence Peter Strzok

Peter Strzok, who served as the deputy assistant director of counterintelligence, launched the investigation on July 30, 2016, and James Comey was the director of the FBI when it began.

On Sept. 9, 2016, then-CIA Director John Brennan had the information about Hillary Clinton’s plan forwarded to Comey and Strzok with the subject line: ‘Crossfire Hurricane.’

‘The following information is provided for the exclusive use of your bureau for background investigative action or lead purposes as appropriate,’ he said in a memo.

‘Per FBI verbal request, CIA provides the below examples of information the CROSSFIRE HURRICANE fusion cell has gleaned to date,’ the memo continued. ‘An exchange [REDACTED] discussing US presidential candidate Hillary Clinton’s approval of a plan concerning US presidential candidate Donald Trump and Russian hackers hampering US elections as a means of distracting the public from her use of a private email server.’

The memo was heavily redacted.

Durham said the FBI ‘failed to act’ on this information, and he said the bureau was a ‘target’ of Clinton’s effort to ‘manipulate or influence the law enforcement process for political purposes’ ahead of the 2016 presidential election.

But Durham’s team could not charge anyone related to omission or failure to act on the ‘Clinton Plan Intelligence.’

‘Whether these failures by U.S. officials amounted to criminal acts, however, is a different question,’ Durham’s report said.

Strzok was ultimately chosen to join Mueller’s team, but he was removed and eventually fired from the FBI after months of scrutiny regarding anti-Trump text messages with former FBI lawyer Lisa Page.

The two were also assigned to the bureau’s investigation into Hillary Clinton’s use of a private email server and handling of classified information, a case that was nicknamed ‘Midyear Exam’ or ‘MYE’ inside the bureau. Page resigned from her post as FBI counsel in May 2018, and Strzok was fired from his post in August 2018.

Former FBI Deputy Director Andrew McCabe

Former FBI Deputy Director Andrew McCabe also played a key role in legitimizing the Steele dossier.

The 2017 Intelligence Community Assessment (ICA) on Russian election interference revealed that the Steele dossier had, at the time, only ‘limited corroboration.’ CIA officials at the time argued the dossier should not be included in the assessment, casting it as simply ‘internet rumor.’

But McCabe said he wanted to include it in the ICA for Obama. McCabe told the DOJ’s inspector general’s office he believed the Steele reporting needed to be included in that ICA because ‘President Obama had requested ‘everything you have relevant to this topic of Russian influence.’’

McCabe argued that including it as an appendix was simply ‘tacking it on’ in a way that ‘would minimize’ the information and prevent it from being properly considered – despite Comey’s assertion that Steele’s reporting was ‘not ripe enough, mature enough, to be a finished intelligence product.’

Ultimately, ‘the FBI’s view did not prevail,’ and the final ICA report included Steele’s reporting only as a short summary in an appendix.

McCabe testified before the House Intelligence Committee in 2017 and admitted that the FBI had ‘not been able to prove the accuracy of all the information.’

‘You don’t know if it’s true or not?’ a House investigator asked, to which McCabe replied, ‘That’s correct.’

Obama administration officials

Top Obama administration officials repeatedly and publicly pushed the Trump-Russia collusion narrative but ultimately admitted in testimony before the House Intelligence Committee that they knew of no ’empirical evidence’ of a conspiracy between the Trump campaign and Russia.

Top Obama officials were questioned over whether they had or had not seen evidence of collusion, coordination or conspiracy – the issue that launched the FBI’s initial ‘Crossfire Hurricane’ probe and later Special Counsel Robert Mueller’s investigation.

‘I never saw any direct empirical evidence that the Trump campaign or someone in it was plotting/conspiring with the Russians to meddle with the election,’ former Director of National Intelligence James Clapper testified in 2017. ‘That’s not to say that there weren’t concerns about the evidence we were seeing, anecdotal evidence. … But I do not recall any instance where I had direct evidence.’

Former U.S. Ambassador to the United Nations Samantha Power was asked about the same issue. Power replied, ‘I am not in possession of anything – I am not in possession and didn’t read or absorb information that came from out of the intelligence community.’

‘I don’t recall intelligence that I would consider evidence to that effect that I saw … conspiracy prior to my departure,’  Obama National Security Advisor Susan Rice testified.

Former Attorney General Loretta Lynch also said that she did ‘not recall that being briefed up to me.’

‘I can’t say that it existed or not,’ Lynch said, referring to evidence of collusion, conspiracy or coordination.

This post appeared first on FOX NEWS

EXCLUSIVE: Democrats spared no time going after the Republican nominee in the pivotal race for Kentucky governor following a brutal primary season, this time with a tough-on-crime stance that could widely appeal to voters in the deep-red state.

Tuesday’s primary elections saw incumbent Democratic Gov. Andy Beshear, who polls show is one of the most popular governors in the country, sail to an easy victory, while Republican Attorney General Daniel Cameron endured an onslaught of negative ads and a fierce proxy battle between his party’s top presidential contenders.

In a six-figure television ad buy, a group backed by the Democratic Governor’s Association (DGA) called Defending Bluegrass Values is taking aim at what it’s calling Cameron’s refusal to address the early release of violent criminals by Beshear’s predecessor, former Republican Gov. Matt Bevin.

‘When former Gov. Matt Bevin gave more than a dozen violent criminals early release from prison, Attorney General Daniel Cameron promised he’d look into it,’ the ad, titled ‘Outrage,’ says. It references Bevin’s controversial pardons of a number of criminals convicted of murder and rape in 2019 as he prepared to leave office.

‘But for three years, Cameron has refused to appoint a special prosecutor, even as some of the criminals were arrested for new crimes. Cameron passed the buck, and Kentucky got hurt,’ the ad says.

Bevin was narrowly defeated by Beshear in Kentucky’s 2019 gubernatorial election, the same year Cameron won his race for attorney general. Upon entering office, Cameron said the pardons were something his office would look into.

Cameron did ask the FBI to investigate the pardons in 2020, including one that was alleged to be ‘improperly’ issued because the family of the man receiving the pardon gave money to Bevin’s campaign. Bevin denied the donations had anything to do with the pardon, and the FBI has not said whether there was any wrongdoing on his part.

A number of the criminals who received pardons from Bevin were arrested again.

‘If Daniel Cameron covered for Matt Bevin’s appalling and corrupt pardons of violent criminals — even as some of these criminals were getting arrested again — why would Kentuckians trust him as their governor?’ DGA communications director Sam Newton told Fox News.

‘Instead of passing the buck again, Daniel Cameron must finally answer for why he sided with Bevin and his cronies instead of Kentuckians by refusing to get to the bottom of this dangerous scandal.’

Republicans are viewing the race between Cameron and Beshear as a prime flip target considering Beshear is one of the nation’s few Democratic governors of a red state and the only Democrat holding statewide office in Kentucky other than his lieutenant governor, who ran on the same ticket. 

The GOP has its work cut out for it, however, as it tries to refocus its attention from the contentious primary toward the general election.

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Fundraising has never been Gov. Chris Sununu’s strongest suit.

While the popular Republican governor – who’s currently serving his fourth two-year term leading New Hampshire – has convincingly won his past two reelections, he’s never crushed it when it to comes to fundraising in any of his four gubernatorial victories.

That’s despite his well-known family name – he’s the son of former Gov. John H. Sununu, who later served as President George H.W. Bush’s chief of staff – and younger brother to former congressman and former Sen. John E. Sununu.

But Sununu tells Fox News that if he launches a bid for the 2024 Republican presidential nomination, fundraising would be ‘the least of my worries.’

‘I’m shockingly surprised at how easy the fundraising would be. The fundraising would not be the problem. There’s a lot of money out there. There’s a lot of folks that would get behind us early on if I were to create a committee or an exploratory committee,’ Sununu said. ‘If we decide to do this, that’s actually the least of my worries.’

Sununu has mingled with top Republican financial contributors at a handful of donor gatherings and retreats across the country over the past six months.

The governor also said that he’ll make a decision on whether to jump into the race for the Republican presidential nomination by late June, following the conclusion of New Hampshire’s current legislative session and the signing of the state’s next biennium budget into law.

The governor made his comments as he took questions from Fox News and other news organizations during a press conference after Wednesday’s session of the state’s five-member Executive Council.

If Sununu launches a presidential campaign, he’ll join a growing field of contenders. At the top of that list is former President Donald Trump, who launched his third straight White House run in November and is the clear front-runner in the early GOP nomination polling.  

Also in the race are: former U.N. Ambassador and former South Carolina Gov. Nikki Haley; former congressman and former Arkansas Gov. Asa Hutchinson; multimillionaire entrepreneur, best-selling author and conservative commentator Vivek Ramaswamy; Michigan businessman and 2022 gubernatorial candidate Perry Johnson; and conservative radio talk show host and former California gubernatorial candidate Larry Elder.

Sen. Tim Scott of South Carolina is expected to announce his candidacy for president next Monday, with Florida Gov. Ron DeSantis expected to file paperwork with the Federal Election Commission next week. And former Vice President Mike Pence is expected to declare his candidacy in the coming weeks. Former New Jersey Gov. Chris Christie – who ran for the 2016 GOP presidential nomination – and Gov. Doug Burgum of North Dakota, as well as former Reps. Mike Rogers of Michigan and Will Hurd of Texas, are also seriously mulling White House runs.

Sununu, a vocal Republican critic of Trump, has long argued that the former president, if nominated next year, will lose the general election. Asked if a growing field of GOP presidential rivals will only divide the opposition and allow Trump to capture the Republican nomination, Sununu said no.

‘You can’t kind of tell people not to run. Whoever wants to run is going to run,’ he added.

But Sununu said that ‘there is going to be a process of which it’s going to be narrowed down a lot more aggressively than it did in ’16,’ pointing to the 2016 cycle when a crowded and divisive field of candidates opened the door to Trump’s nomination victory ahead of his White House win.

‘Everyone understands that it just needs to narrow down, and my guess is that it will narrow down the end of the fall and as we go into early next year. And it will narrow down quickly. If you were going to tell me there’s going to be 10 or 12 people in the race through March and April of next year, yeah, that’s going to be a problem. But that’s not going to happen. That’s going to winnow down very quickly,’ he said.

Asked by Fox News what his biggest concern would be if he launched a presidential campaign, the governor said that ‘the state comes first. Making sure, if we do this, all the pieces are in place to make sure, whatever needs there are, are going to be met. And that’s something I’m quite passionate about. We’re not going to walk away from this state. … I wouldn’t do anything that would put in the state in any sort of harm’s way.’

Pointing to Sununu’s out-of-state travel, the New Hampshire Democratic Party recently charged that the governor ‘has never viewed being the governor as anything but a stepping stone. At every opportunity, Chris Sununu has left Granite Staters in the dust to build his celebrity status.’

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House Republicans representing New York are taking aim at state Democrats and the Biden administration over the Empire State’s migrant surge — as migrants have been housed in school gyms and as the Democratic leaders are also attempting to put pressure on Republicans over the crisis.

‘It is absolutely unacceptable that Governor Kathy Hochul, Mayor Eric Adams, and President Joe Biden are sacrificing America’s children’s safety and happiness to prioritize the needs of illegals,’ Rep. Elise Stefanik, R-NY, told Fox News Digital. ‘This is why Republicans passed the strongest border security package in our nation’s history.’

New York City has been dealing with a massive migrant crisis for over a year as migrants have flooded into the city, including those who have been assisted with transports from Texas.

The issue hit the headlines again this week when it was revealed that the Big Apple has started housing migrants in public school gyms, sparking anger and protests. Mayor Eric Adams said the move was ‘drastic’ but said the city is out of options. The city has also caused controversy by busing hundreds of migrants to Rockland County and Orange County. There have also been reports of homeless veterans being booted from hotels to make room for the influx in upstate New York.

‘We are carrying this entire burden. This national problem is being laid in the lap of New Yorkers,’ Adams told Fox 5 New York on Tuesday.

Meanwhile, New York Gov. Kathy Hochul said in an interview with Spectrum News that the state is ‘helping [Adams] find places that will be welcoming.’ 

‘I want to make sure the Democrats, Republicans, everyone understands the challenges we’re facing right now,’ the governor added. 

Hochul also addressed the Republican majority in Congress during the interview, asking them to pledge $1 billion to help the city as well as allowing illegal immigrants to work.

NYC FACES IRE OF RESIDENTS OVER PLAN TO HOUSE MIGRANTS IN BROOKLYN ELEMENTARY SCHOOL GYM 

‘Republicans in Congress, in charge of the House, have the ability to allocate more money. Why don’t you match what New York state did? Give us a billion dollars for New York,’ she said. ‘Help us with the money, help us with the work authorization. And then we’ll get through this much sooner.’

It echoes calls from the Biden administration, who have accused Republicans of failing to provide funding for additional border measures — while also calling on Congress to pass an immigration reform bill, which includes an amnesty for illegal immigrants already in the U.S.

‘The fundamental reason why we have a challenge at our border, and we’ve had this challenge many a time before is because we are working within the constraints of a broken — a fundamentally broken immigration system. And we also are operating on resources that are far less than those that we need and that we’ve requested,’ DHS Secretary Alejandro Mayorkas said last week

But Republicans have accused the Biden administration of fueling the crisis with its policies — including the ending of Trump-era border measures and the reduction of interior enforcement. In New York, Republicans have attributed the crisis in part to ‘sanctuary’ policies put into place at the city and state level.

‘The unmitigated disaster New York is now experiencing is a direct result of President Joe Biden’s open border agenda and Governor Kathy Hochul’s policies, which have made New York a magnet for illegal immigrants,’ Rep. Claudia Tenney, R-NY, told Fox in a statement. ‘It is outrageous that she now wants the American people to subsidize New York’s failed sanctuary city policies. New York City’s ‘right-to-shelter’ policy, in particular, was never intended to be applied in this context. Upstate New York counties that stand for the rule of law should not be forced to pay the price for those that have embraced dangerous and illegal sanctuary city policies.’

‘We are a compassionate nation, one with rules and laws that no one is above,’ Rep. Nick LaLota, R-NY, a member of the House Homeland Security Committee, said in a statement. ‘Those who entered the country illegally, or who are manipulating our asylum laws, should not displace law-abiding taxpayers from their government services. Veterans, the homeless, the mentally impaired, and other Americans in need deserve better.’

Rep. Marc Molinaro, R-NY, called on Hochul to push President Biden to adopt ‘stronger border security measures’ to address the cause of the crisis.

‘We are facing a crisis that impacts communities represented by Democrats and Republicans,’ he said. Our solution must be bipartisan. I urge Gov. Hochul to work with leaders at all levels of government and across party lines on this issue.’

Meanwhile, there were also further signs of discord between Democrats on the issue. Mayor Eric Adams was asked Tuesday by a news anchor: ‘Where the heck is the president of the United States.’

‘That’s a good question,’ Adams said. ‘I think we all should be asking why this is happening to a city that was turning itself around and will continue to do so. This should not be happening to New York City, Chicago, Los Angeles and the other big northern cities.’ 

‘And really, it should not be happening to El Paso or Brownsville, Texas. No city should be carrying this burden. This is a national problem, and it needs a national solution,’ the mayor said. 

Fox News’ Aubrie Spady, Jeffrey Clark, Danielle Wallace and The Associated Press contributed to this report.

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