Key takeaways:
- Michael Cohen is expected to testify to a Manhattan grand jury investigating the hush money scandal involving Stormy Daniels.
- Republicans and conservative influencers have argued without evidence that the existence of diversity, equity and inclusion programs led to mismanagement at Silicon Valley Bank.
- The 2018 repeal of stricter regulations on regional banks, and the Federal Reserve’s decision to hike interest rates, are seen as more likely causes of the bank’s collapse.
Michael Cohen, former lawyer to President Donald Trump, is expected to testify Monday afternoon to a Manhattan grand jury investigating the hush money scandal involving porn actress Stormy Daniels. The testimony is seen as a major step in the investigation, as Manhattan District Attorney Alvin Bragg is likely to seek an indictment of Trump.
Cohen has been meeting regularly with prosecutors in recent weeks, including a daylong session Friday to prepare for his grand jury appearance. The prosecutors have also invited Trump himself to testify, suggesting that the investigation is coming to a close.
The collapse of Silicon Valley Bank has been a topic of discussion among Republicans and conservative influencers. They have argued without evidence that the existence of diversity, equity and inclusion programs led to mismanagement. Florida Governor Ron DeSantis has suggested that the bank’s focus on DEI and politics diverted from their core mission.
However, the 2018 repeal of stricter regulations on regional banks, passed on a bipartisan basis and signed into law by former President Donald Trump, is seen as a more likely cause of the bank’s collapse. It is also believed that the Federal Reserve’s decision to hike interest rates to curb inflation was a contributing factor.
Overall, the testimony of Michael Cohen is seen as a major step in the investigation of the hush money scandal, and is likely to result in an indictment of President Donald Trump.
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