From Adam Schiff to Letitia James: A New Chapter in Scrutiny
Now, it appears that New York Attorney General Letitia James has taken a page from Adam Schiff’s playbook. Her office is currently examining potential insider trading linked to President Trump’s recent decision to pause tariffs for 90 days.
CNN has reported that:
New York Attorney General Letitia James is investigating possible insider trading involving officials and associates from the Trump administration surrounding last week’s 90-day tariff pause, her office confirmed to CNN on Monday.
This inquiry is still in its infancy and has not yet developed into a formal investigation. Whether it will unearth any evidence of misconduct remains uncertain.
The Curious Case of Social Media and Insider Trading
One must wonder: how does posting on a social media platform equate to ‘insider trading’? Last Wednesday, President Trump took to Truth Social, perhaps in a bid to soothe nerves frayed by his tariff strategies and a corresponding market downturn.
“BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!” Trump proclaimed on his platform that morning.
BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!
Donald Trump Truth Social 04/09/25 09:33 AM
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 9, 2025
A short while later, he suggested it was an opportune moment for investment, given the market slump. “THIS IS A GREAT TIME TO BUY!!! DJT,” he declared.
This flurry of activity followed the Chinese government’s retaliatory announcement to increase tariffs on American goods from 34% to 84%, in response to Trump’s initial 104% tariffs on China.
In a dramatic turn, Trump responded by raising tariffs on China to a staggering 125% while simultaneously implementing a 90-day pause on tariffs and reducing reciprocal tariffs on over 75 countries.
The market reaction was swift and significant: the Dow Jones surged by over 2,800 points, and the Nasdaq soared more than 10% that Wednesday afternoon.
“The S&P 500 skyrocketed 9.1%, marking its largest single-day gain in five years. The Dow Jones Industrial Average jumped 2,861 points, or 7.4%, also its biggest leap since 2020. Meanwhile, the Nasdaq Composite experienced an 11.7% rise, its most substantial daily increase in decades,” CNBC reported.
