MSNBC panel proposes SEC launch legal battle against Trump over Truth Social stock surge

The Biden administration’s strategy of politicizing the justice system to knock former President Donald Trump out of the 2024 presidential race has repeatedly hit roadblocks, so an MSNBC panel on Tuesday called on the Securities and Exchange Commission (SEC) to wage its own lawfare campaign against Trump for having a successful trading day.

Trump’s “Truth Social” app went public on March 25, with the company’s valuation reaching $13 billion, according to the Financial Times. The stock lost $4 billion in value by Tuesday, according to CBS News.

Still, MSNBC seemingly had a meltdown that the current lawfare campaign against Trump has yet to be fruitful and that Trump making money off his app would benefit him in the election. The panel appeared to insinuate the SEC should try and kneecap the former president by launching its own investigation.

“To the extent it makes any money, the revenue number, the amount of money this company makes, is $4 million. That’s it. That’s all this company makes and it’s being valued in the billions of dollars, I mean literally something like 2,000 times the revenue number,” CNBC’s Andrew Ross Sorkin said. “And then the whole thing is absurd. Why the SEC does not think there’s some kind of stock manipulation going on, by the way, but clearly this is one of these almost meme-like stocks where there’s clearly a group of people that are trying to push up the price to almost transfer money potentially to the former president.”

MSNBC’s Stephanie Ruhle said the stock surge was driven by “that whole kind of Wall Street Bets, Trump loyalists … saying ‘I’m going to take this thing to the moon.’ But the other group that could be more dangerous, what an unbelievable transfer of money, right? Unofficial payments, unregulated, almost political donations that nobody’s going to track. And that’s when people are looking at the SEC saying, ‘Are you kidding me?’”

Sorkin then alleged “this is one of those true manipulations of sorts … People have been trying to push up the price almost like in a pyramid-like way to try to get money to the president to try to, effectively, influence the outcome of the election.”

“And why nobody’s going, ‘What is going on here?’ makes no sense,” Sorkin continued.

The panel discussion was a thinly veiled attempt to encourage the politicization of the SEC to target Trump, evidenced by Sorkin’s hypothesis that the Truth Social stock could “influence the outcome of the election.”

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Democrats and corporate media have cheered on the lawfare campaign being waged against the former president from its outset. While Trump is forced to spend valuable time sitting in courtrooms, President Joe Biden gets to hit the campaign trail — a poignant reminder that Democrats’ strategy to use the justice system to fend off an opponent is election interference regardless of how the prosecutions turn out.

But it’s not just time off the campaign trail hindering Trump’s ability to run a fair campaign. The former president was saddled with an exorbitant bond to appeal a decision that found him liable for inflating his net worth to secure loans even though there were no victims and the loan providers were fully satisfied with their partnership. The case was brought by New York Attorney General Letitia James who campaigned on using lawfare to target Trump and called him an “illegitimate president.”

Biden has even tried to mock Trump for being the victim of lawfare promulgated by the DOJ under Merrick Garland, telling voters that, amid an uncertain economy, Trump is suffering from “crushing debt” alongside them.

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Brianna Lyman is an elections correspondent at The Federalist.

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