RADIOSeptember 21, 2023

Did Soros 'Republicans' make it ILLEGAL for Texas AG Ken Paxton to prosecute voter fraud?!

In his interview with Tucker Carlson, Texas Attorney General Ken Paxton mentioned how the Texas Court of Appeals (which is 100% "Republican") recently made it illegal for him to prosecute voter fraud. Paxton joins Glenn to elaborate on this ridiculous ruling and why he believes it's (of course) all tied to George Soros. Plus, Paxton pushes back against the Wall Street Journal's take on why he was acquitted in his impeachment trial and reveals whether Texas will finally start acting like Texas again after the Biden administration cut razor wire at the southern border, allowing thousands of illegal immigrants could cross over.

Transcript

Below is a rush transcript that may contain errors

GLENN: Last night, the fed -- because the federal government decided, they were just going to cut the razor wire at the border, on Texas.

At Eagle Pass. Just came in. Cut it. Cameras were rolling. There were, hmm, about four how thousand Venezuelans waiting on the other side. And 14,000 announced a state of emergency in Eagle Pass.

When is Texas going to actually become Texas?

My first or actually my second question to Ken Paxton, and we begin right now.

Ken, welcome to the program. I'm glad that this is all behind you.

It seemed to me, to be an absolute witch hunt. But I -- I wanted to ask you, one question, on this. Because I know you covered a lot of this with Tucker Carlson yesterday. But let me -- let me go into the Wall Street Journal.

Why Ken Paxton was acquitted.

It's by the entire editorial board. It's just ridiculous.

Listen to this. Mr. Paxton's defenders are spinning that he was saved by a populist national conservative groundswell to put an end to the bush era in Texas. What a joke. There is no longer a Bush era in Texas or anywhere else.

George P. Bush. Jeb Bush's son lost to Mr. Paxton. Yeah. Well, yes.

So how is that the end of Bush? What really happened on Saturday, is that Lieutenant Governor Dan Patrick chose to rescue in a reboot of his rival, House Speaker Dade Phelan. The acquittal is perhaps a satisfying victory for Mr. Patrick over his House rival.

But it may not play out so well for Texas Republicans in the longer run.

A federal investigation into Mr. Paxton is continuing amid reports that a grand jury has been impaneled.

What do you know about that, Ken?

KEN: Well, first of all, I have seen people of Texas. I am here.

Because by the grace of God, and the -- those people that I just mentioned, the Biden administration, I have seen it 48 times. The Biden administration, 27 times.

This was organized by the Biden administration. And I thought, well, how could that be? It happened because in Texas, the Speaker is elected by 65 Democrats. And ten Republicans. That's all it takes.

And what the Democrats do is they block votes, they figure out which Republicans will give them the most.

And they -- they agreed to this deal with the Biden administration. Went straight to the Texas Democrats. And they came after me. And shoot, I've been investigated ever since the day I walked into this office. And I have no doubt, the Biden administration would love to find some way. They've been working on it for years.

To get rid of me. And part of that process was the impeachment.

GLENN: So I have to tell you, I think Phelan should be impeached himself. This is such a sham of everything that was going on.

But let me talk about the border here. Because, Ken, while you've been away, Texas has been a wuss in many cases.

Yesterday, the razor wire at Eagle Pass was cut. We had this gigantic colony in Houston. Which is, you, you know, they're change girls up, and raping them. One escaped. Tried to.

And was killed. Both of them ended up dead. There's all kinds of cartel activity going on.

This is a colony in Houston. The size of Washington, DC. More people are on the way. When is Texas going to become Texas?

KEN: So I literally had my first briefing yesterday from my office. We spent probably four months, and I have people that have left. There's lots of stuff that I didn't know what was going on.

I didn't get information from my office. So yesterday, I spent more time talking about immigration. And what's going on in the border. What can we do.

We're in the process of looking into potential lawsuits.

I don't have an army to do anything about it. All I can do is what I can do, of course. So we already had a bunch of lawsuits, against the Biden administration. But we're definitely looking at more.

We're trying to figure out, how can we stop this travesty, with the Biden administration, is promoting. It's pretty clear to me.

They do not care about the American people. This is so horrible. And a consequence for people on the border.

That are US citizens. And for our sake. Are devastated. And those consequences with drugs, and crime. Will be sold in this country, for a long time to come.

GLENN: So did the governor reach out you to, yesterday, about the wire cutting?

VOICE: I did not hear from his office yesterday. My staff may have. But I didn't. I didn't know about it until you just said something.

GLENN: No one from the governor's office called you about the federal government cutting the razor wire and letting thousands of people in across our border at Eagle Pass? No one called you?

KEN: I heard about that story, on -- right before your show started as I listened to the news. That's when I heard about the wire cutting. I did not know.

GLENN: Okay. The -- you said to Tucker yesterday, in your interview with him. And this kind of -- just kind of went and he didn't follow up. And I found this quite important.

The Court of Appeals and the state of Texas, apparently now, you cannot prosecute voter fraud in Texas. Is that true?

KEN: Yes. That is correct. They struck down a law from 1951. And, by the way, I have four things that I'm supposed to do in the Constitution. And the final thing is, such things that are required by law. In 1951, the legislature, directed by the attorney general, the only thing that I have jurisdiction on, as early as criminal matters is voter fraud.

And a court of criminal appeals. All Republican, by the way.

And, by the way, no one knows who they are. This is why they've been put there. And I'm convinced they're not Republicans. Because they struck down this law. And they said, I don't have the authority to go to court. As an attorney general.

Because I'm in the executive branch. That was their rationale for striking down things. Unconstitutional for the attorney general to be in court. I'm like, is that the most insane thing ever?

But they did it. And now it's up to the local DAs to prosecute. The Dallas county. The Harris County. Houston.

They won't prosecute voter fraud. Guess what, they just talked about voter fraud. And the people of Texas, need to know that. And if there's three of the nine members, coming up in March, for a primary. We have to find people to run. And we have to beat those people. Or we will lose this state.

Because I tried to get this law passed again. So I always have -- I can start doing it again, and making them strike again. And guess who killed it?

Dade Phelan. I called him. He never returned my calls. I was told by his team they didn't have time to pass this law. Even though --

GLENN: Oh, my gosh.

KEN: That's where we are with Dade Phelan. That's where we are with the Texas House. And that's where we are with the Court of Criminal Appeals.

That's our highest court.

Like our Supreme Court. One of two states have this, for all criminal matters.

So I have no appeal. When they strike down and say this is unconstitutional, I can't prosecute criminal fraud, I have no way around it. I'm stuck. That's what I'm saying.

GLENN: Okay. So who needs to be called? The House?

KEN: The House needs to pass this. They lost two years. And in March, I think we're -- I just we're going to have three people running against the members of the Court of Appeals. We have to get those people elected, because we lost eight-one. And if we have three new members, we'll at least be 5-4. And we'll be sending a message, we cannot strike down --

GLENN: Okay. Who are the three members?

KEN: I do not have it on me. Yeah. Three members will be up this time. I think one of them is Michelle (inaudible). I think Barbara Kirby. And I'm trying to remember the third one. I think those are the three that are up.

GLENN: We'll find it.

KEN: Glenn, I don't think there's any more important issue than fixing this court.

GLENN: Why did this happen? How did this happen?

KEN: Okay. So I think George Soros, my opinion, he was trying to do three things.

One, get the DA -- he beat all these Democratic DAs that were prosecuting crimes. He did it in Travis County. The Democrat County there, was actually prosecuted.

He did the same thing in San Antonio.

So he got control of that, knowing full well that this would affect voting.

Second, he put -- he helped put nine members on the Supreme Court. Actually eight. Kevin is awesome.

The other -- eight.

No one knows who they are. And I think he -- because Republicans don't know who these people are. He was able to get the numbers to court. And strike down this law. And then the third strategy -- and then there's nowhere to go.

So that was the goal. They didn't hear it from me. So there's still hope. We have to get the criminal court of appeals. We have to get the House next time to pass this law.

GLENN: You know, Donald Trump said, yesterday, let me see if I can actually quote him on -- on something. He said yesterday, that we -- if there is a defeat in 2024, it will mean the end of the country. The 2024 presidential election will mean nothing less than the final battle for the US. I am beginning to think that's absolutely true. If we make it to 2024.

KEN: I told him, when he was running for reelection in May, that I was fighting a battle to stop massive bailout ballots. In all the biggest counties.

Travis County. Then Harris County, to Houston. We have 12 lawsuits. If I don't win every single one of those lawsuits, you'll lose Texas. He said, what? That's not possible. I said, it doesn't matter what your polling says. If they can cut out six or seven million ballots for just one count. Say Harris County sends $2.5 million out.

You won by 600,000 votes, you won't win votes. They will count votes.

Because we can't verify. If they mail them out to everyone. There's no signature verification. Which is still not even the best way to make sure people are voting right.

We have no way to verify. They will count as many ballots as they want. They will figure out how their numbers are. And guess what, we thought every one of those lawsuits, even though this is a terrible place. Terrible judges. I watched election night.

I said, this is exactly -- they will stop counting votes for a couple of days. So they can figure out, how many votes they needed to count with these mail-in ballots.

And that's exactly what happened in these other states.

Whenever I bring it up, they say I'm crazy. That's exactly what they did.

GLENN: You know, one thing I really worry about is the number of illegals, in you're country. The ones we don't even know about. We already, since Biden got into office. We have already passed the population of 15 different states. Combinations of three states. Would equal the amount that has come in.

It is -- it's -- you're seeing crime and everything else.

And we're only seeing the surface of this.

I -- I wonder if Texas can stand. How much is this changing?

If they can just register, or -- or get people to get in here to do voting. Which is their plan? Beyond that, the crime, the social services. The hospitals.

I -- I -- we're so close to the border. If we don't get this border sealed, we're done.

KEN: No, this is the plan.

People are like, why did Biden do this?

One, first, voting. Getting as many people, in the Republican states, that they can come.

Voters, whether it's legal or illegal. Right now, they can vote illegally.

No one is going to do anything about it. It won't matter.

Second, they wanted to get as many illegals into these Republican states.

Guess what, we're doing better than Democratic states.

We have low taxes, less regulation.

More opportunity.

Better governance.

And they want to bring in more problems.

They want to take us down, because the story is too good for Texas, Florida, and Tennessee, Utah. The Republican states were successful.

The Democrat states are losing people.

Because people are voting with their feet. The Biden administration said, okay. We'll make you pay for it. We'll make you pay for all the schooling, health care, law enforcement, crime.

Your kids are going to die. We will get you, and that's what the Biden administration is all about.

GLENN: Well, any good news to report?

KEN: Yeah. There's always help.

GLENN: Yeah. Yeah. Well, I have to tell you, it looked like they were going to be able to railroad you.

And, look, I know you're not a perfect person.

But, you know, I had a real problem, when they came to the impeachment hearings after promising, just like the Democrats. All kinds of evidence. All kinds of -- and then literally nothing.

KEN: Their lawyers, Glenn, said it will be ten times worse than the public.

Guess what, it's ten times less.

They tried to railroad me out. No testimony that's required by law.

No due process. No chance for me to refute any of this stuff.

All done secretly. No transparency done in three days. Some other things. Now, I have no resources.

I spent all my money on a campaign.

I have no -- I had no lawyers.

I had three months to figure out what they had.

And they kept hiding information, even though they were requiring the turnover. And then, of course, I had the gag orders. I couldn't defend myself. I couldn't go out and talk, couldn't call you.

On the other hand, they were able to leak information to the press. Every day, I've been impounded. All of that, was against me.

And yet, because of the people in Texas, because of my strong family support, because of my wife's support. And because of the grace of God. You know, I just decided, I'm going to fight this to the last second.

I will not resign. Because if they win this. Because they can just do this to anybody they want. I will not let the voters down.

GLENN: So who will pay for this?

Is any -- is any investigation -- I don't want revenge.

I want this to not be able to happen again.

KEN: No. So Dan Patrick, God bless him for this. He called for an audit. Which I think was fair. They were trying to figure out how much money they were spending. I think we will find out how much money they spent. Which is millions.

And look, it's totally unfair to push someone out of office, with no proof.

And I have to pay for it.

And I have to lose, just because they have all the money for the taxpayers. And I'm left with just nothing.

Most people would not have made it through that. With no resources.

And that is unfair to the House bill, is that suspended with no proof. And then take away one -- illegally cuts my salary off to punish me.

Even though he had no authority to do that.

And I'm supposed to survive this.they did everything they could to make it impossible for me to get the truth out, and to survive.

GLENN: This is so weird.

KEN: Again, against the will of the voters.

GLENN: We are becoming an old Soviet state. It's terrifying.

KEN: This is Texas, Glenn. Texas.

GLENN: Oh, I know. I know. Ken, thank you very much. I appreciate it. God bless. Thank you.

Exposed: How Democrats twist maps to silence half the voters

Democratic Maryland governor Wes Moore is now saying that he wants to gerrymander his own state's congressional districts (despite Republicans only holding ONE seat) to fight Texas' redistricting efforts. But Glenn Beck has a simpler answer to this whole debate - and it stems from Moses.

Transcript

Below is a rush transcript that may contain errors

GLENN: Gerrymandering started by -- Stu, can you look this up, for me?

Is it Elbridge Gerry or Gerry? I always thought it was Elbridge Gerry.

STU: Yeah, you're remembering that right.

GLENN: It is?

STU: Yeah, it is Elbridge Gerry. There's a weird quirk basically in American history, where his name was Elbridge Gerry. It was first called gerrymandering essentially in a newspaper, at the time. People read the newspaper, didn't know how to pronounce his name. Started saying "gerrymandering," and that's what stuck. So it was actually different than the way his name was pronounced, even though it was named after him.

GLENN: Yeah. Well, that's why you spell your name G-A-R-Y, not G-E-R-R-Y. Hello!

STU: Lesson learned.

GLENN: Yes, so gerrymandering is when a salamander-shaped district gave America a new word, and a new really bad habit. Okay? And we have perfected this really bad habit.

It -- it started about 18- -- yeah, about 1818, 1850, some- -- someplace around there, and it wasn't known as gerrymandering, until the mid-1800s when everybody was doing it. Now, here's how bad it has gotten: Today, in Massachusetts, one-third of the voters choose a Republican. But not one of the nine House seats. They can choose it for president. But they -- one-third vote for Republicans. But because of the way they have the map set up, you don't get any House seats. So a third of the population has zero representation.

And not because they didn't show up. But because the lines chose first. In, Illinois, pretty much the same situation. Forty-seven percent of voters cast a ballot for Republicans in 2024. Forty-seven percent. Now, why do we all think that Illinois is so far left in Congress? Why?

Because 47 percent, they must get their choice. Forty-seven percent of the voters cast a ballot for Republicans in 2024. And they got 17 percent of the seats! Now, that's -- that's magical. There's -- there's some magical forces making that happen. Okay? Now, you see competition. Now you don't! Maryland.

The courts called one map an extreme partisan gerrymander. Why?

Well, because there's only one Republican serving in Maryland. Only one.

Now, how is that possible? Because you know there are people that live in Maryland. Only one of the -- the House seats go to a Republican? One?

Come on! Now, here's the latest. The governor now says, all options are on the table. This is the governor of Maryland. We just played this clip. Can you play it again, please?

VOICE: Are you actively looking at it now?

VOICE: Yes. And I think we have to.

VOICE: You are?

VOICE: Because I think what's happening is this is what people hate about politics in the first place. The fact that the President of the United States, very similar to what he did in Georgia, where he called up a series of voter registrants and said, I need you to find me more votes. We're watching the same thing now where he's calling up legislatures around the country and saying, I need you to find me more congressional districts.

VOICE: He's doing it. That may be different. But Democrats redistrict. You know this. But Gavin Newsom is doing it right now, a few years ago in New York. We saw this. This can be backfire.
Do you really want to go down this road?

VOICE: I want to make sure that we have fair lines and fair seats. Where we don't have situations where politicians are choosing voters, but that voters have a chance to choose their elected officials.

We need to be able to have fair maps, and we also need to make sure that if the president of the United States is putting his finger on the scale to try to manipulate elections, because he knows that his policies cannot win in a ballot box.

GLENN: Okay. So stop.

If you -- if you don't know anything about Maryland, you would be like, well, that's reasonable.

And most people don't know anything about Maryland. Okay. That's reasonable. He just wants fair maps and fair lines. Okay. If you really wanted the people to pick, you wouldn't -- it's mathematically impossible in Illinois.

It's mathematically impossible in Massachusetts. And in Maryland, to have the representation for the G.O.P. that they have.

It's math mat -- Massachusetts has zero Republicans in the House!

Zero, in the whole state!

Zero.

Maryland, only has one. And then he says, well, I might have to redistrict.

To get rid of the one?

One place, where -- where a Republican won. And you want to redistrict that, out of existence?

That doesn't seem fair, to me.

Right?

Okay. This isn't a blue problem. It's not a red problem. It is a power problem. And it has been happening almost since the founding of the country. And it's got to stop. Now, in 2019, the Supreme Court had a decision. Said, the courts aren't going to interfere. And they won't referee partisan gerrymandering.

Well, that was a message that was sent to everybody, very clear. Do what you -- do what you want. The raw what you can. Draw what you can get real estate with. And so they did!

Now, in Texas. This all started in Texas. Which, by the way, the -- the senses.

These are all based on the census, or they're supposed to be. But for the very first time, the 2020 census was rigged, and then it was not fair.

When you have Texas. Think of this. Just think -- I want you to think of this logically. Texas in -- what was it? 2020. Texas in 2020 had lost people? Or had not gained any citizens?

What planet are you living in?

Texas is growing by leaps and bounds, as it was in 2015. 2010.

You're telling me, nothing!

Nothing!

No new growth.

Wow! That's amazing.

So Texas is trying to correct this problem. Where they fix the census.

Okay.

Now, the left is shouting, this is crazy!

I can't believe they're doing -- it's an arms race of hypocrisy.

It really is. It really is.

Which one could launch the biggest hypocritical missile.

I'm not sure. I can just tell you, this ends -- it ends where legitimacy ends. When -- when somebody will look up in one of these states and say, this is -- and with -- with real facts on their side. That -- that's not -- that's not representative of me. The House of Representatives. That's not representative of my district and my state. You can draw a district any way you want. You know, cut us all apart so you -- you can't have a Republican in. You've been doing that forever.

Here's the thing: Safe seats. That's what everybody wants. A safe seat. Safe seats do not create better leaders. They create unaccountable leaders. Let me say that again: Safe seats do not create better leaders. They create unaccountable leaders. Why?

Because a safe seat doesn't reward persuasion.

You don't have to persuade anybody. They reward purity tests. This is why we have become so incredibly extreme. It's why -- everybody wonders why the center feels like it's collapsing. You know, every -- every compromise feels like a betrayal. Because you're not dealing with people. You're dealing with people who are extremes. Okay?

So what do we do? Well, there's a couple of solutions. One independent map-making. Yeah. That's going to work. Put the pens in the citizen's hands. Oh, good. Michigan. Arizona. California.

They have shown independent or court-drawn maps. Reduced extremes. And increased competition. Okay.

Maybe. California. Has an independent committee. This was passed by the people voted for. People were like, you know what, we want fair! We want fair districts. Okay. But at the first time of trouble. They'll violate that, as you're seeing with California.

You have the governor of California coming out. We will redraw all of them. Because they don't care about the voices of the people in those districts. They care about the Democrat voice in Congress.

So the governor is going around it. And it will only be stopped if the people of California stand up. Are they going to?

I don't know.

Now, if we don't solve this at the local and state level, believe me, there are going to be people in Congress that want to change the rules. And the left is already working on it.

It's called the fair representation act. Stu, they already have an act. It's the Fair Representation Act.

STU: I like fair representation.

GLENN: Right! It's about representation, and it's going to be fair.

See what could go wrong with this. They just reintroduced it this summer. It would use independent commissions. Multi-member districts. And ranked choice voting for the House.

Oh! Ranked choice voting? What could possibly go wrong with ranked choice voting. Why is that a problem, Stu?

STU: Well, currently, the Democrats really love rank choice voting. Because it's benefited them, mostly.

And that's just a small part of that particular act. But basically, you know, if you -- you know, unless the other -- the other team is smart enough to actually understand the rules of it. Which so far, the Republicans have not been, they will nominate people that will split their own vote. And you will wind up with someone who is the -- not the majority candidate, wound up winning the seat.

GLENN: Yeah. Really bad idea. Really bad idea.

So may I make a suggestion on how we fix this?

And I would like to base this on Moses.

Moses already did this. Okay? He divided people in hundreds and 50s and tens. Let me -- let me call -- let me just -- I want you to think of the United States under one big tent. Okay? One big tent. Let's say we look at the United States as a big block. And we want to put everybody under a tent. But we can't put them under one big, big tent.

So let's say we put them in tents of 100. Or a thousand.

Or 5,000.

And we think of the map, as you have to have a tent, over these people.

All right. Well, I know we have four corners.

And we put a steak in the ground. And those four corners, we build a tent.

And then we build a tent right next to that one, that holds the same amount of people, and we put four steaks in the ground, and we build another tent. In other words, each district has to have four straight lines. Just like a tent. It's just a box. Okay? It could be a rectangle. However you want to design it, that is fine. But it's just a box. And when that box becomes too full, you split it in half. And now it becomes two boxes, and you keep splitting them, until they're more and more boxes. The more the population grows, the more boxes there are. Okay?
It's really easy. Do you know what that would do? It could mean that in some districts, a couple of apartment buildings, not snaked all the way around the city and into the countryside. But a few apartment buildings in New York City, right in a four-block area, that might be a district.

What does that do? That means the people who are representing the people in that apartment complex, the -- that four-block radius. He has to know that four-block area. That's his deal. He's not sneaking around, going around everywhere else. He knows those people. He represents just those people. Not people five blocks away. Just maybe four blocks away.

And four blocks in each direction. That way, you don't have these people who don't have any idea, they don't look like you. I mean, as far as the way you vote. They don't look -- vote like you do. They don't -- they're -- they're not some sort of foreigner from a different area of town. They know what your issues are.

If we did that, and we made everything in just squares, you would -- you would localize much more. In a much better way. But you would also stop all the extremes. Because unless everybody in that four-block radius is an extremist, an extremist isn't going to win. An extremist Republican. Extremist tell me. Extremists aren't going to win. Because most people aren't like that. That's why the gerrymandering thing happens. Because you can have people on one side of the street in one district, people on the other side of the street, in another district, and then it snakes up four blocks, and then it makes a hard left. Then it goes straight up for another street, then there's a big bubble at the top of it, where a whole bunch of blocks are included. That makes no sense. That's making a safe seat.
Again, safe seats do not -- do not reward anything! They create extremism.

Trump’s Intel gamble: Smart Capitalism or Socialist trap?

President Trump has announced a deal to buy a 10% stake in computer chip maker Intel. Is this a smart business move that will make the US government money to pay off its debt, or is it just another unconstitutional public-private partnership? Glenn and Stu discuss ...

Transcript

Below is a rush transcript that may contain errors

GLENN: I would love to open -- openly embrace the -- you know, on the surface, there's a new deal with Intel.

And it sounds really smart. And it sounds like, yeah. That's the way we should do business.

It sounds capitalist. It sounds patriotic. But then, again, so did the Patriot Act.

So here's what's happening. Donald Trump is taking $8.9 billion. Money already set aside by the Chips Act. And instead of handing to Intel as a grant, he bought stock in Intel.

Now, that sounds really smart. Right? Sounds like what a businessman would do. Really smart. I'm not going to just give them the money, we'll invest. And that way, we get some profits, when they succeed. So we now own 10 percent of the company. Nonvoting shares. We got it at a discount, and we have $2 billion now worth of paper gains.

I love that! Right? It sounds really good. Why aren't we running this place more like a business? It's pro-capitalist, right? No more government giveaways. Taxpayers are investors. And we benefit when Intel rebounds. Okay. Any other things? Well, yeah. It's really important for national security. We're keeping chip manufacturing at home. We stabilize the economy, without running it. We reassure the markets, and attract other private investors. On paper. It's really good. It's clean. It's efficient. It's savvy.

Now, what is it that's bothering me? Well, it's not exactly the American system. In fact, it might be everything we're not supposed to do. You know, we were never -- government was never supposed to use our taxpayer dollars to be a shareholder in private enterprise.

But, again, we're doing all kinds of things that we've already gone there. Haven't we?

Hasn't the government picked winners and loses now forever?

Haven't they been wasting your money. I would rather extend them a grant. I would rather have it in stock. So if we win, we win. No. We all win. But that's actually the model of state capitalism in China. That's not the free market in the United States. Intel is vital. Absolutely vital. Chips are the lifeblood of anything that will happen for national security. And our economy.

But we cannot get into the habit of -- of -- we can't normalize it anyway.

Washington, DC, buying stock in struggling companies.

Because what's next. Ford? Boeing?

How about your grocery stores?

That's Mamdani, isn't it?

And once that door opens, government no longer just regulates the market. They own a piece of it, now.

What happens after we own a piece of that?

So in 2008, I had a big sponsor.

It was a sponsor that Premiere Radio networks had worked 20 years to get.

We finally landed them. And I had a good working relationship with them.

It was General Motors.

And then the government bailed them out. In 2008. And they promised it was temporary. And I said, great! Call me back, once you've paid them off. I don't -- I don't like this. The government should not be involved.

But they were not going to be involved.

But they were

The first thing they did. Was they cancelled the hydrogen car. Something they really believed right before the election. I know. Because I was talking to him about it all the time. And then after the election, Barack Obama cancels all hydrogen products. And GM was like, yeah, that stupid hydrogen thing. We're with them.

And the precedent was set. And I was out. I was out. I cancelled General Motors. Stupid. Stupid. Stupid.

Business-wise, stupid. Ethically, the right thing to do. And ever since, whenever there's a crisis, that temptation is there. Why not just buy a slice of the company? Why not stabilize it? Make a little profit on it? And that's how you slip to capitalism to corporatism. You know, free markets backed by government winners and losers.

You do not want to go down this road. You know, when we are both the investor and the regulator, which one wins.

Come on!

Not a hard question to answer. Which one wins? Not the regulator. The investor wins. If the investor is also the regulator, look, if we do this, we will make a lot of money, you're going to make a lot of money. You'll have more money for all these projects you want. Okay. All right. Okay.

It's -- it's not -- the taxpayers aren't the one. The company -- the politicians, who really wins? What happens when an administration leans on its own company, for political purposes?

You know what, I think you'll get rid of that hydrogen car. We love the hydrogen car. You know what, I think you'll get rid of that hydrogen car. We hate that hydrogen car. Boy, we hate it.

He -- Donald Trump looks at Intel losing $8.8 billion last year. Lays off 20,000 workers.

Choke hold of Taiwan, South Korea on semi conductors. He wants America protected.

He wants taxpayers to share the upside.

He doesn't want to just bear the cost. We should get the upside. All of those things are good, right?

It's really tempting. But is it what we're supposed to do. Is it the right thing?

I don't like it when Washington holds stock certificates. Not a good thing. It should be reforming taxes. Cutting red tape. Letting capital flow to strong ideas. Making sure national security is cured through policy, but not ownership of these things.

Are you comfortable if the United States just took over AI, or just took it over and said, we're just going to own 10 percent? Oh, they need another bailout. We're just going to own 20 percent. Oh, they need another bailout. Okay. We're going to own 40 percent of that. Do you think that that company wouldn't become beholden to the United States government? And who are they beholden to? The Defense Department? The Deep State? The president, or you?

I think you know the answer to that one. Stu, how do you work around this one. Because I love this idea. I love the fact that we're running things like a business. And if we're giving people loans, why not take a stake? Why not?

STU: Well, first of all, can we step back one little bit and just acknowledge that the original sin here, in the first place, was the Chips Act. The Chips Act was not a good bill in the first place.

And that's not the president -- the current president's fault.

But, you know, he has to live under that law.

And he's trying to improve it. But like, that was a disaster in the first place. And should not have been something that we did, certainly the way that we did it.

With buying into this. Look, I understand, it is better to have some of this money. That, by the way, we're just borrowing and printing anyway. Right?

These are taxpayer dollars that we don't really have. That we're spending on something. That it's good that potentially we have a return. I mean, this was the argument under TARP as well. Where we would go and do all of this. And take control of some of these banks and companies. And they would eventually pay us back. And many of them did, by the way. Many of them did pay us back.

GLENN: With interest. With interest.

STU: Yeah, exactly. And so why not?

Why didn't we do that? We have done it from time to time. Normally, it's been in extreme circumstances. Right? When there's an emergency going on. And I would acknowledge, and I think you were on this, as well, Glenn.

These were not things that we supported at the time. But they were things that the government did at the time. What they saw as a time of financial crisis. And reached in, and took ownership of a bunch of companies.

GLENN: I would say, we went further than not being for them.

STU: I would agree with that analysis.

GLENN: Very much against them.

STU: Very much against them.

The reason for that is: We don't want the government involved in -- you know, jumping into companies and micromanaging companies.

Now, they will say, voting rights.

They will say all sorts of things. We now have a situation where the president of the United States has an interesting interest in Intel's stock price. And like, I know that --

GLENN: Money does not talk, it screams. It's a bad idea. It's a bad idea.

Once the government becomes your partner in business. They're always your partner. Always.

STU: Uh-huh. And I understand where the president is coming from.

Because it -- at some level, it really is important to acknowledge, he's been put in this position to try to make the best out of a bad thing.

Now, I know, you know, the president does really care about the chips. And he does care about these industries, being here in the United States.

That is a -- something that is actually legitimately important. I'm not denying that.

GLENN: Right. He also cares about America doing well, financially. He's tired of America getting screwed. The taxpayers getting screwed every time.

STU: But on that point, because I get what he's saying there. It would be great. Like, we're up a couple billion dollars. Let's say we double our profit. Let's say we make 10 billion dollars off the deal. Nothing wrong with making $10 billion.

Let's acknowledge what this is, though. We have $37 trillion in debt. Making $10 billion does absolutely nothing to this. Nothing.

We're going to waste that -- like, we could just instead, be -- we could have someone actually look at the next spending bill we have. And just cut a few things around the corner, and easily save $10 billion.

It -- the only way that this makes any impact. And this is what makes me nervous. Is if you do it at scale. If you start doing this, in every single company you can think of, that is having problems. Or is in an industry of interest to the United States of America. Then you start getting to a place to where the government is in bed with lots of businesses. And maybe you can make a financial impact. And if we accept this argument now, I'm afraid we accept it then too.

GLENN: But how do we already accept it -- when America embraced public/private partnerships. I haven't accepted that.

I don't -- I'm dead-set against public -- but isn't this a public/private partnership. This is what they were pushing.

STU: Well, this is the concern, right?

Who is cheering this on?

Bernie Sanders. Bernie Sanders put the -- he actually had this idea, as an amendment, in the Chips Act.

This was his proposal.

He's cheering it on right now. I -- that doesn't mean that every -- you know, everything a Democrat brings up is the wrong idea.

Maybe this was a good one.

You can make that argument.

GLENN: Is he a Democrat or a socialist?

STU: Socialist please. Socialist.

GLENN: So everything a socialist brings up. Probably is fine.

STU: Yeah. Again, it's a road, we should really, really be careful going down.

I would argue, we shouldn't go down it. At his lead to bad things. And it leads to bad things, by the way, when this president is long gone.

It's not just him.

You know, what -- I know we say this all the time. What are Democrats going to do, with this newfound ability to invest in companies?

And -- and, by the way, we should note, Intel doesn't need to accept this. Right? This is -- the Chips Act doesn't require them to sell part of the company. What's happening here is we're pressuring them into this.

GLENN: Uh-huh.

STU: And, you know, I -- I understand the reasoning for that. You brought up really good arguments on this front. We're already suckered into giving these -- these companies money because of the Chips Act. Why not make the situation better?

And Intel is saying, well, they can make our lives miserable. In 25 different ways. Let's partner with them.

I get it on both sides.

That doesn't mean it should be a foundational part of our economy going forward. And, you know, if this is a one time thing. It probably won't be a big deal. If this is a precedent that goes on. It can be.

GLENN: It will be.

Once you start this. Once you start this.

And how long. My whole life, I said, I wish we had a businessman as the president. I wish we had somebody that would look at the country and look at everything. And go, how can we make money?
How can we save money? Let's run this a tighter ship. Well, he's doing that.

Although, we're spending more money.

And he's here. Here he's like, well, let's just offset.

Let's get -- yeah. And he might pick the winner. I don't know if he will or not. But he might -- but tell me the last president that we had, that ever said anything about industry, that you were like, oh, you know what, that was a really good stock tip. No! No!

STU: He would be the guy.

GLENN: Yeah. He would be the one, I think in my lifetime, for sure. Maybe the lifetime of the country.

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