
Michael Cohen writing book about DOJ and Trump world
Michael Cohen, President Donald Trump’s former fixer who turned against him, is writing a second book, about the politicization of the Justice Department and his time in Trump world.
Last month Cohen published his first book, “Disloyal: A Memoir: The True Story of the Former Personal Attorney to President Donald J. Trump,” which was a number one New York Times bestseller. The first book was about how Cohen thought that Trump was a narcissist and sociopath and that Trump’s behavior is identical to that of a “mob boss.” Multiple entities are vying to adapt that book into a movie.
“There’s so much more to the story that hasn’t been told, tangentially related to Donald Trump,” he told POLITICO in a brief interview on Wednesday. “It is fair and accurate to state that President Trump has weaponized the Department of Justice against those he deems to be a threat thus making it into the Department of Injustice.”

Biden administration
Biden warns China will ‘eat our lunch’ on infrastructure spending

US President Joe Biden has warned that China will “eat our lunch” if America doesn’t “step up” its infrastructure spending.
Mr Biden was speaking on Thursday with a group of senators about the need to upgrade infrastructure in the US.
His warning comes the day after his first phone call with Chinese President Xi Jinping.
On the call, Mr Xi took a hard line on human rights saying a confrontation would be a disaster for both countries.
Mr Biden made the comments after meeting with members of the Environment and Public Works committee.
“If we don’t get moving, they are going to eat our lunch,” President Biden told senators.
“They’re investing billions of dollars dealing with a whole range of issues that relate to transportation, the environment and a whole range of other things. We just have to step up.”
During the campaign, Mr Biden proposed spending $2tn (£1.45tn) over four years to create jobs and invest in clean energy infrastructure.
A widely cited American Society of Civil Engineers (ASCE) “report card” from 2017 gave the country’s infrastructure a grade of “D+”.
The ASCE estimated that the total “infrastructure gap” needed $2tn by 2025 to fix, but would cost the economy twice as much if it went unaddressed.
The World Economic Forum’s 2019 Global Competitiveness Report ranked the US 13th in a broad measure of infrastructure quality, down from fifth place in 2002.
China has been investing heavily in its infrastructure, pouring money into high-speed rail, metro systems, apartment buildings, electricity grids and mobile networks.
“They have a major, major new initiative on rail and they already have rail that goes 225 miles an hour with ease,” Mr Biden noted.
Human rights and diplomacy
President Biden also discussed several other points of friction with the Chinese President during his call.
The White House said he voiced “fundamental” concerns about Beijing’s “coercive and unfair” trade practices, as well as concerns over China’s crackdown in Hong Kong and treatment of Muslims in Xinjiang.
He also raised China’s increasingly assertive posture toward Taiwan and the country’s lack of transparency over Covid-19, said White House spokeswoman Jen Psaki.
Mr Xi maintained a hard line on Hong Kong, Xinjiang and Taiwan, calling them matters of “sovereignty and territorial integrity”.
He told Mr Biden confrontation would be a “disaster” and the two sides should re-establish the means to avoid misjudgements, China’s foreign ministry said.
Business
GameStop investors on a wild ride: ‘It was a rollercoaster of emotion’

Shares of the video game retailer had skyrocketed, fuelled by individual investors on Reddit.
Now that the dust has settled, who are the winners and losers in the GameStop saga?
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Big Tech
Robinhood CEO grants interview to CNBC…Its doesn’t go to well

Robinhood CEO says it limited buying in GameStop to ‘protect the firm’
Robinhood CEO Vlad Tenev said Robinhood’s move to stop trading in certain speculative names was in the best interest of the company and its millions of users. “In order to protect the firm and protect our customers we had to limit buying in these stocks,” Tenev told CNBC Thursday evening.
“Robinhood is a brokerage firm, we have lots of financial requirements. We have SEC net capital requirements and clearing house deposits. So that’s money that we have to deposit at various clearing houses. Some of these requirements fluctuate quite a bit based on volatility in the market and they can be substantial in the current environment where there’s a lot of volatility and a lot of concentrated activity in these names that have been going viral on social media,” said Tenev.
Tenev denied there was any existing liquidity issue at the firm and said Robinhood had tapped credit lines as a proactive measure. “We want to put ourselves in a position to allow our customers to be as unrestricted as possible in accordance with the requirements and the regulations,” said Tenev. “So we pulled those credit lines so that we could maximize within reason the funds we have to deposit at the clearing houses.”
Amid a wild week of speculative retail trading, Robinhood on Thursday restricted trading in thirteen equities, including GameStop and AMC Entertainment. The free stock trading pioneer only allowed clients to sell positions, not open new ones, in certain securities, raised margin requirements, and even said it would close out some positions automatically if the client was at risk of not having the necessary collateral.
“We just haven’t see this level of concentrated interest market wide in a small number of names before,” said Tenev. “We do believe that you should be able to buy and sell the stocks that you want to.”
Shares of GameStop, AMC and others rebounded aggressively in extended trading on Thursday after Robinhood said it will resume limited trading of previously restricted securities on Friday.
“Starting tomorrow, we plan to allow limited buys of these securities. We’ll continue to monitor the situation and may make adjustments as needed,” Robinhood said in a statement.
GameStop shares skyrocketed 61% to trade at $312 in after hours trading, after closing down 44% to $193.60 during regular hours Thursday. The stock’s high for the week is $483.
Robinhood said its decision to restrict trading — which angered many users — was in order to comply with capital requirements mandated by the SEC for broker dealers.
“These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today,” the company said.
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