Jun 28, 2017

Trump's latest social media salvo against "fake news"

Alex Brandon / AP

President Trump has shared videos on his official Instagram account from Project Veritas, the controversial right-wing outlet known for its deceptively-edited videos, that purport to show CNN figures — including contributor Van Jones — dismissing the federal government's Russia investigation. Trump captioned the videos, "CNN is fake news."

Sarah Huckabee Sanders yesterday: "There's a video out there circulating right now — whether it's accurate or not, I don't know — but I would encourage everybody in this room, and frankly, everybody across the country to take a look at it."

Note of caution: Per the Washington Post, Project Veritas is known for utilizing practices considered unethical in mainstream journalism, including using false identities and deceptive editing. For example, one video features a CNN producer saying there is "no smoking gun" in the Russia investigation but fails to note that he produces health and medical stories for the network — and is based in Atlanta, away from the epicenters of CNN's politics coverage in Washington and New York.

Go deeper

SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.