The Michael Fanone Show
This is a free preview of a paid episode. To hear more, visit michaelfanone.substack.com [https://michaelfanone.substack.com?utm_medium=podcast&utm_campaign=CTA_7] Ninety dollars. That is how much Congresswoman Julie Johnson of Texas says she made on her Palantir stock trade. Not nine thousand. Not nine hundred. Ninety bucks. A nice dinner for two if you skip dessert. I do not care about the ninety dollars. Neither should you. What I care about is that a sitting member of the United States Congress, with access to information you and I will never see, bought stock in a data analytics company that is currently helping the Trump administration build out a domestic surveillance apparatus. And her defense is essentially that the trade was too small to matter. That is the defense. Not “I did not do it.” Not “It was held in a blind trust.” Just “Relax, it was only ninety dollars.” This is the state of the Democratic Party in 2026. Trying to make the case to American voters that Donald Trump is corrupt while members of its own caucus are out here defending themselves with “but it was only a little corruption.” It is not going to work. And the people in the party who think it will are going to lose the midterms. And I say that as someone with no team jersey to wear here. I do not identify with a party. I never have. But right now in this country there is exactly one functioning political party capable of stopping what Donald Trump is doing to American democracy, and it is the Democrats. So when they screw up, I am going to say so. Because the stakes are too high to pretend they have not. The Johnson-Allred runoff in Dallas this Tuesday is not a one-off. The same fight is happening in primaries across the country, and it is one of the more honest things Democrats have done in a long time. In Utah, a state senator named Nate Blouin is hammering a former congressman for holding equity in a data center firm. In New York, the former city comptroller Brad Lander is hammering Dan Goldman, a quarter-billionaire heir to the Levi Strauss fortune, for using his own inherited wealth to flood his reelection campaign. In Los Angeles, Brad Sherman, a guy who actually supports a stock trading ban, is being primaried because he inherited three stocks from his dead grandmother. And in San Francisco, the race to fill Nancy Pelosi’s seat has turned into a referendum on whether being personally rich before you ran for office disqualifies you from being clean while you serve. Some of these fights are legitimate. Some of them are stretched thin. All of them are happening because Democratic primary voters are sick of watching politicians on both sides of the aisle treat congressional service as a portfolio management opportunity. And they are right to be sick of it. Here is a fact that should make every American taxpayer break something. The STOCK Act has been on the books since 2012. It is the law that is supposed to stop members of Congress from insider trading and force them to disclose their stock trades within 45 days. Every year, members get caught violating it. Every year, they shrug. The fine for getting caught? Two hundred dollars. You read that right. A sitting member of the United States Congress can fail to disclose a stock trade in a company they directly regulate, get caught, and pay a fine smaller than a parking ticket in some neighborhoods of DC. I have written checks bigger than that for a busted taillight. Then there is this. A group called the Political Integrity Project started up last year. They have a simple pledge. Do not trade stocks while you serve in Congress. Do not take corporate PAC money. Do not cash in as a lobbyist after you leave. The “I am a functioning human being with values” pledge. So far, ninety challengers have signed it. Ninety people who want to come to Washington. How many sitting members of Congress have signed it? Seven. Seven out of 535. All of them Democrats. Zero Republicans. So if anyone wants to come at me for being too hard on Democrats here, save it. At least their seven exist. The Republicans put up a goose egg. But seven is also pathetic. Seven is a rounding error. Seven is the number of people willing to give up their portfolio for the privilege of serving the American public. The other 528 looked at that pledge and said no thank you, I would rather keep my E*TRADE account active. I know what you’re thinking. “Mike, you keep talking about Democrats. What about Trump?” You are absolutely right. Let’s go. Donald Trump ran in 2016 on draining the swamp. Lock her up. The system is rigged against the little guy. He sold that story to working-class Americans, and a lot of them bought it. Including some of my friends. Including, if I am being honest, some members of my own family before they saw what came next. What came next is the largest pay-to-play operation in modern American presidential history. It is not even close. The Trump meme coin. World Liberty Financial. The crypto ventures laundering hundreds of millions of dollars from foreign sources into the personal accounts of the President’s family while he sits in the Oval Office signing executive orders that affect those same industries. The Mar-a-Lago dinners where foreign nationals pay seven figures for face time with the most powerful man on earth. The Don Jr. and Eric Trump tour of the Gulf states, cutting billion-dollar real estate and crypto deals while their father controls American foreign policy toward those same countries. This is not the swamp. This is the swamp wearing a gold watch and laughing at you. And here is the kicker. Trump himself, at his own State of the Union, looked into the camera and blessed the bipartisan congressional stock trading ban. Said yeah, do it, sounds great, ban that thing. The bill died within weeks. Crickets from the White House. No phone calls. No pressure. Nothing. Because Trump did not actually want it to pass. He wanted the applause line. That is who we are running against. A man who has turned the presidency into a family enterprise and who counts on Americans being too exhausted, too cynical, or too distracted to notice. So back to the Democratic primaries. Back to the ninety-dollar Palantir trade. Back to the in-fighting that has the smart-set pundits clutching their pearls. I am here to tell you it is good. It is good because you cannot make the corruption argument against Donald Trump with dirty hands. Democrats cannot stand on a debate stage in October of 2026 and accuse the President of self-dealing if their own caucus is full of members who traded defense contractor stocks the week before a committee vote. The voters can smell that. They have been smelling it for forty years. It is why so many of them tuned out of politics in the first place. The Democratic Party that wants to win this November and beyond has to walk in clean. That means signing the pledge. That means passing a real ban with real teeth. Not a two-hundred-dollar fine. Real teeth. Expulsion. Forfeiture of trading profits to the Treasury. Criminal referrals. It means ending the joke that is the STOCK Act and replacing it with something that actually scares people. It means making blind trust the actual minimum standard of service, not a punchline that politicians hide behind while their spouses make miraculous trades. And it means having uncomfortable conversations within their own ranks. Yes, Julie Johnson, including you. Yes, Dan Goldman, including you. Every single member of Congress who looked at that ninety-challenger pledge and decided a portfolio mattered more. Painful. Ugly. Necessary. I was a cop for twenty years. I have seen what corruption looks like from the bottom up. It is not always a briefcase full of cash. Most of the time it is a thousand small accommodations. A stock trade here. A relative on a payroll there. A vote that conveniently lines up with a donor’s interest. Nobody ever thinks they are the corrupt one. Everybody has a reason. Everybody managed their conflict. Everybody had a financial advisor. Everybody had a blind trust. And every single time, the American people get the bill. We are at a moment in this country where trust in institutions is at a generational low. I do not have a team here. I am an American, and I am paying close attention to which party is going to act like the adults in the room while the other one openly auctions off the federal government to the highest bidder. The way back is not for Democrats to circle the wagons and protect their own. The way back is to be the party that actually does the thing they keep promising. Show, don’t tell. Sign the pledge. Pass the ban. Walk in clean. Then go after Donald Trump for the swamp he has built around himself and his children. With heads high and hands empty. That is how Democrats win in November. That is how anyone actually drains a swamp. In that order. P.S. Hit the like button if this one fired you up. Drop a comment and tell me where you land on a full congressional stock trading ban. Yes or no. No fence-sitting. And if you are not subscribed yet, what are you waiting for. Paid subscribers keep this independent operation running and let me say what I actually think without an editor changing it to mush. See you next time. 🟧 Paid subscribers get 15% off your next merch order🟧 Founding Members get 20% off for life You’ll get the link in your welcome email. GET DISCOUNTS BELOW! ENJOY!
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