This amounts to more than 80 trades per market day for the president in his first 17 months back in office.
Page F5From§Eachthe matinee edition — 30 September 2026
The renovation Trump used to oust Powell clears him, no referral; his own war chest gets one.
As it ran on the front
Ten days ago this desk left an account open: a war in Iran the Congressional Budget Office priced at nearly $40 billion, a figure its own report called conservative. That line has not moved since. In the same stretch, a senator who voted to confirm the defense secretary called for his firing twice, and a Republican congressman filed articles of impeachment against him. No dollar figure attaches to either of those two, so they sit in the ledger as columns without totals, which is its own kind of entry.
Then two watchdog reports came in, five days apart, on two different funds.…
…(cont) On September 25, the Campaign Legal Center closed its review of the $400 million MAGA Inc. super PAC. Its finding: Trump's stated control over that fund's spending decisions is, in the group's words, a "clear-cut violation of campaign finance law." Citing decades of legal precedent, the CLC argued federal officeholders may not direct a super PAC's spending. The finding went out as an accusation with somewhere to land.
On September 30, the Federal Reserve's own inspector general closed its review of the $2.5 billion headquarters renovation — the project Trump spent the summer citing as grounds to try to remove Jerome Powell. The finding: poorly managed, cost overruns, no misconduct, no illegal conduct. The New York Times reported the inspector general made no referral to the attorney general. The Washington Post reported the Justice Department had already dropped its own inquiry into the project earlier this year. Powell no longer holds the chair; Kevin Warsh does, and on September 16, under Warsh, the Fed raised rates a quarter point anyway, over Trump's objections.
Between those two dates sits a third. On September 18, Senate Republicans, per The Hill, rebuffed Trump's attacks on that rate decision. His own party would not follow him into the renovation complaint either — not into a firing, and, this week, not into a referral.
Run the two files side by side and the totals match the headlines, not the politics. $2.5 billion in public money produced cost overruns, a finding of poor management, and zero referrals. $400 million in political money produced a finding of clear-cut violation and one live complaint. Same week, same species of watchdog report, one line item that goes nowhere and one that goes somewhere next. The gap isn't in the math, hon. It's in what each column is attached to.
“Same week, two report cards: the project that spent $2.5 billion of our money gets a note that says try harder next time, and the $400 million political fund gets a clear violation with somewhere to go. One of those goes nowhere because the watchdog auditing it doesn't bite the hand, the other's just getting started. Either way the rate hike on the 16th landed on your car payment regardless of who's sorry.”
“Look, the inspector general said no illegal conduct, that's a total exoneration, case closed, nothing to see here — the man spent months trying to fire Powell over this and even he got cleared. And if the campaign finance people want to gin up a "clear-cut violation" out of a super PAC doing what super PACs do, that's just Washington lawyers billing hours. Did I say super PACs do that? That's not really the point I was making.”
Earlier in this story
- Facing firing calls and impeachment papers, Hegseth strips tenure from professors, cuts a fifth of the military's generals. By Mort · the milkman edition, 30 September 2026
- Administration doubles own tariff-cut figure to $60 billion in two days, no new deal required By Ruth · the late evening edition, 29 September 2026
- Watchdog calls administration's $810 million rescission unlawful, then calls it unlawful again four days later. By Ruth · the supper edition, 29 September 2026
- Trump bans Canadian imports and calls Canada 'one of the worst countries'; both nations call the ban wrong. By Ruth · the noon edition, 29 September 2026
- Fox News announces Troy Jackson breaks silence and stays silent, same day, same vandalism. By Ruth · the early evening edition, 28 September 2026
- An ad, a corruption report, and spray paint later, Collins still leads by three points. By Ruth · the supper edition, 28 September 2026
The receipts
An election spending watchdog on Friday accused President Donald Trump of committing a "clear-cut violation of campaign finance law" through his stated control over spending decisions made by the MAGA Inc. super political action committee. Citing decades of legal precedent, the Campaign Legal Center (CLC) argued that federal office…
The Fed’s watchdog found cost overruns but no evidence of criminal violations after the Justice Department dropped an investigation into the renovations earlier this year.
The US targeted “clearly identifiable” civilian sites in Minab and Lamerd, killing over 100 children, the UN found.
The inspector general for the Federal Reserve found that the institution did not “effectively manage” its renovations of the central bank’s headquarters in Washington, D.C., but found no grounds for a criminal probe into former Federal Reserve Chairman Jerome Powell. The finding brings Powell closer to beating back the accusations by…
A new report by the Federal Reserve’s independent inspector general concluded that a nearly $2.5 billion construction project was poorly managed but made no referrals to the U.S. attorney general.
· GOP senators defend Federal Reserve's decision from the morgue, 18 Sep 2026
· Federal Reserve delivers unwelcome news to Trump from the morgue, 16 Sep 2026
· U.N. experts say U.S. may have committed war crimes with 2 Iran strikes from the morgue, 22 Sep 2026
· Trump Says 'Big Decision' Coming on Whether to 'Annihilate' Iran from the morgue, 18 Sep 2026
· Pentagon No. 3 frustrates senators in closed-door briefing on Iran war, Trump defense strategy from the morgue, 17 Sep 2026
· Senate Democrats, minus Fetterman, urge Hegseth to provide receipt for Iran war costs from the morgue, 17 Sep 2026
· Hegseth on "devastation" to Iran's capabilities from the morgue, 10 Sep 2026
· Trump admits Iran war will not end before midterms from the morgue, 9 Sep 2026
· Iran War Trump Said Would Be Quick Has Now Lasted 6 Months With 'No End In Sight' from the morgue, 28 Aug 2026
· CBO Finds Trump's Iran War Has Already Cost Nearly $40 Billion—And That's a 'Conservative' Estimate from the morgue, 15 Sep 2026
· Tillis supports Hegseth impeachment resolution: 'He needs to go' from the morgue, 18 Sep 2026
· Massie Files Impeachment Articles Against Hegseth for Illegal Iran War, Boat Murders from the morgue, 15 Sep 2026
· Massie launches effort to impeach Hegseth from the morgue, 15 Sep 2026
· Tillis urges Trump to fire Hegseth over 'inept management' of military from the morgue, 2 Sep 2026
· Tillis renews calls for Hegseth’s firing after Driscoll’s departure: ‘I have never witnessed more inept management’ from the morgue, 2 Sep 2026
· Farmer who voted for Trump says farmers are "all just in survival mode" from the morgue, 18 Sep 2026
· Farmer who voted for Trump says "I can't stay in business" amid rising costs from the morgue, 18 Sep 2026
· Massie says he’s convinced enough Republicans to pass Epstein Files II discharge petition from the morgue, 18 Sep 2026
· Massie names Epstein 'coconspirators,' discusses new Epstein files legislation from the morgue, 1 Sep 2026
· Read Thomas Massie’s eight impeachment charges against Pete Hegseth from the morgue, 15 Sep 2026
· Fake Republican midterm convention site still redirects to Epstein files from the morgue, 7 Sep 2026
· Trump says he has a ‘big decision’ coming up on Iran: ‘Do I want to go in and annihilate them’ from the morgue, 17 Sep 2026
· Fox News Poll: 71% think Trump administration lacks plan to end Iran war from the morgue, 17 Sep 2026
· Iran recently downed at least 2 American drones, officials say from the morgue, 17 Sep 2026
· Big Oil Stocks Surged Due to Iran War—and New Filings Show How President Trump Cashed In from the morgue, 27 Aug 2026
· Live updates: Energy secretary downplays rising gas prices as US, Iran trade strikes from the morgue, 6 Sep 2026
· U.S. Strike on Iranian School May Have Been War Crime, U.N. Report Says from the morgue, 17 Sep 2026
· UN investigators conclude ‘reasonable grounds’ to believe certain US strikes in Iran were war crimes from the morgue, 17 Sep 2026
· UN Suspects US War Crimes in Iran from the morgue, 17 Sep 2026
· US Condemned for 'War Crimes' After Bombing of Wedding Party in Iran from the morgue, 2 Sep 2026
· US investigating if missile hit Iranian wedding ceremony, killing 4 from the morgue, 4 Sep 2026
· Trump says he has a ‘big decision coming up’ on Iran from the morgue, 17 Sep 2026
· White House issues explosive response to UN-backed report claiming US committed war crimes against world’s No.1 sponsor of terror, Iran from the morgue, 17 Sep 2026
· Human rights experts: 'Reasonable grounds' to believe US committed war crimes with Iran strikes from the morgue, 17 Sep 2026
· US Energy Consumers Have Spent $121 Billion Extra Since Trump Launched Iran War: Moody's from the morgue, 17 Sep 2026
· Iran downed at least 2 American drones in recent days, U.S. officials say from the morgue, 17 Sep 2026
· Iran: Account of US Air Force colonel's rescue 'fictional' from the morgue, 17 Sep 2026
· Consumer Burden of Trump Iran War Exceeds $100 Billion as Oil Prices Pass $100 a Barrel from the morgue, 9 Sep 2026
· 'A Serious and Alarming Threat': US Bombing, Blockade Deepen Iran Medical Crisis from the morgue, 9 Sep 2026
· Consumer Confidence Hits Lowest Level in Months as US Faces 'Trump's Reckless Tariffs and War With Iran' from the morgue, 25 Aug 2026
· U.S. Air Force officer rescued from Iran speaks for the first time to 60 Minutes from the morgue, 8 Sep 2026
· Rep. Thomas Massie forcing vote on Pete Hegseth's impeachment from the morgue, 16 Sep 2026
· Did Johnson Just Adjourn Congress for 7 Weeks to Avoid Massie's Impeachment Articles Against Hegseth? from the morgue, 16 Sep 2026
· The Hitchhiker’s Guide to Massie saying Johnson is sending the House home early to prevent Hegseth impeachment from the morgue, 16 Sep 2026
· ‘You’re Elected to Fight and Kill the Other Side’: How Congress Lost Its Way from the morgue, 16 Sep 2026
· Army combat veteran challenging Mike Lawler calls Hegseth national security 'hazard,' backs impeachment from the morgue, 6 Sep 2026
· Former Air Force secretary says he 'couldn't serve' in Trump administration from the morgue, 6 Sep 2026
· Former Air Force secretary: Hegseth's Pentagon 'dysfunctional' from the morgue, 3 Sep 2026
· House Republicans split over leaving Washington early for campaign trail from the morgue, 1 Sep 2026
· Fossil Fuel Advertising Contracts Hit Record High as Big Oil Pockets Billions From Iran War from the morgue, 16 Sep 2026
· 'How are we gonna get through this?' Many Americans are struggling as prices rise from the morgue, 16 Sep 2026
· Trump's Top Oil Stocks Have Made Him Up to $4.4 Million Richer During Iran War: Analysis from the morgue, 9 Sep 2026
· 'Trump Did It!': At $5.85 a Gallon, Diesel Price Hits All-Time High in US Thanks to War on Iran from the morgue, 4 Sep 2026
· Gas prices reach Labor Day high amid Iran war from the morgue, 8 Sep 2026
· Trump Hammered Over Iran War That Drove Gas Prices Above $4 Per Gallon Every Day in August for First Time Ever from the morgue, 31 Aug 2026
· Warsh under pressure as Fed weighs rate hike from the morgue, 15 Sep 2026
· Inflation held at 3.4% in August in consumer price index, creating tough choice for Warsh Fed from the morgue, 11 Sep 2026
· Warsh indicates Fed could raise rates to cool inflation from the morgue, 28 Aug 2026
· Key U.S. Bond Rate Near 20-Year High as Oil Prices Keep Climbing from the morgue, 15 Sep 2026
· 10-year Treasury yield hits highest level since 2007, oil surges above $105 as Fed expected to hike interest rates from the morgue, 15 Sep 2026
· Benchmark mortgage rate hits 14-month high as bond yields keep rising from the morgue, 10 Sep 2026
· Benchmark mortgage rate hits highest mark in over a year from the morgue, 3 Sep 2026
· Goldman Sachs warns oil prices could hit $120 as U.S. fuel costs surge from the morgue, 8 Sep 2026
· Massie Moves to Force Impeachment Vote Against Hegseth, Citing Civilian Deaths from the morgue, 15 Sep 2026
· GOP Rep Thomas Massie introduces 8 articles of impeachment against War Secretary Pete Hegseth from the morgue, 15 Sep 2026
· Republican Rep. Massie moves to impeach Defense Secretary Hegseth over Iran war from the morgue, 15 Sep 2026
· Thomas Massie Forces Vote To Impeach Pete Hegseth from the morgue, 15 Sep 2026
· Pete Hegseth Faces Growing Criticism as War With Iran Rolls On from the morgue, 3 Sep 2026
· Hegseth Quietly Extends Middle East Troop Deployments Into 2027 as Iran War Drags On from the morgue, 3 Sep 2026
· Costco imposes purchase limits on motor oil, hikes prices by nearly double from the morgue, 15 Sep 2026
· As gas averages $4.31 nationwide, diesel fuel hits all-time high: "It's painful. It's real hard" from the morgue, 14 Sep 2026
· Costco Raises Motor Oil Price, Caps Customer Purchases As Iran War Drags On from the morgue, 14 Sep 2026
· 'Can't Message That Away': GOP Frets as Trump Administration Desperately Spins Record-High Diesel Prices from the morgue, 5 Sep 2026
· European Union member states agree to a natural gas price cap in an attempt to limit economic damage from the global energy crisis. The price cap can be triggered beginning on February 15, if for thre from the morgue, 19 Dec 2022
· Spike on 10-year bond yields renews concerns over U.S. debt from the morgue, 15 Sep 2026
· 10-Year Treasury Yield Reaches 5%, Highest Level in Years from the morgue, 14 Sep 2026
· Treasury reveals $6B in debt buybacks, triple the normal level – but markets slump from the morgue, 9 Sep 2026
· Trump blames rise in diesel prices on Ukrainian strikes against Russian oil refineries from the morgue, 14 Sep 2026
· Trump blames rising diesel price on Russia-Ukraine war from the morgue, 14 Sep 2026
· What Is Driving Diesel Prices Up? Energy Chaos Caused by Two Wars. from the morgue, 14 Sep 2026
This page is a back-issue: the story as it ran, receipts as they were. The current edition is at the front. The byline is a pen name for a column drafted by a machine and checked by the editor: how this is made.