July 31, 2026, 10:23 am

We held an event Wednesday evening at a bar in Brooklyn, co-hosted by TPM and Marisa Kabas’ indy site The Handbasket. I really enjoyed it and I wanted to thank everyone who came out. We have an expanding roster of in-person events. We’ve held events in Chicago, Boston and Austin over the last year or so — usually live podcasts — and we do them more frequently in our home bases in New York and D.C., where they’re easier to put on. Please join us for one of these when we do one in your area. They’re so much fun and it’s really special to meet and spend time with members of the far-flung or sometimes close-flung TPM community.

It’s become a cliche of the politics of this moment that the one thing that unites all Americans in our polarized age is that they hate data centers. But a dimension of this occurred to me during the discussion between Marisa and I that was moderated by TPM publisher Joe Ragazzo. I hadn’t thought of it before.

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-Josh Marshall
July 30, 2026, 4:29 pm

I saw this tweet and it struck me as one of the more powerful indicators of the need to untether ideology from “fight” in intra-Democratic battles. The party is very united on fight, very divided on ideology. So you unite on “fight,” let different constituencies/states find their center of gravity on ideology.

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-Josh Marshall
July 30, 2026, 2:31 pm

Here in the U.S., we’re looking at the Iran War in terms of whether the U.S. should have started it in the first place, how it’s affecting oil prices, how it’s going to affect the midterms and a bunch of other things. But there’s another way to look at it, which is that Iran is putting on a global performance of standing head to head with the full might of the U.S. military and pulling it off. By their actions, we can see pretty clearly that the Iranian government does not fear Donald Trump. They’re not acting scared. If anything, they’re upping the rate of their provocations, as the state of war and effective stalemate transitions to a new normal of sorts.

It is fair to say that this is not actually the full might of the U.S. military in a theoretical sense. The president could order the U.S. military to mount a full scale ground invasion of Iran, occupy the country, dismantle the state’s system of command, control and repression. Those things are very likely possible, albeit at vast cost. But the real test of a military is not what it can do in some theoretical sense, the precise armaments it has and so forth but what the country which controls that military is able and/or willing to do in a specific economic, geopolitical, and political context. And the U.S. is clearly not willing to do those things. So in a practical sense — not the abstract power and capabilities of the U.S. military but the country’s ability to do those things — this is the full force of the U.S. military.

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-Josh Marshall
July 30, 2026, 12:52 pm

We’re right on the cusp of a big Drive milestone – $400,000, 80% of the way toward our goal of raising at least $500,000 in this year’s Annual TPM Journalism Fund Drive. Who can help us cross this threshold today? You can be that person by clicking right here and making a contribution in any amount. $3,017 to go! Thank you to everyone who has contributed so far!

Update: Now just $546 to go!

-Josh Marshall
July 30, 2026, 11:59 am

Thanks so much to everyone who came out to our event at Crystal Lake bar last night in collaboration with Marisa Kabas of The Handbasket! It was great to see some of you again, meet some local readers making it out to their first TPM event, and connect with readers who traveled just for this show. (Shout out to the lovely couple from Berkeley, California!)

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-Allegra Kirkland
July 29, 2026, 4:22 pm

It looks like we are going to get a big test of some cardinal (possibly outdated) assumptions about American politics. I’m thinking first about the Michigan Senate race (though we might have something similar in the Wisconsin governor’s race). Several recent polls show Abdul El-Sayed holding a consistent, substantial lead over Rep. Haley Stevens. The primary is on August 4. This has been presented as a prototypical Democratic establishment vs Bernie progressive/insurgent race. And in key respects it is.

El-Sayed has all the Bernie/progressive positions. He’s run a campaign that places a heavy emphasis on the Israel-Palestine issue. And he’s centered AIPAC in his campaign in a way that even for many longtime critics and haters of AIPAC (including myself here) has a distinct whiff of antisemitic conspiracy theories. To wit, yes, AIPAC sucks. They’re a blight. They are functionally a Republican operation these days. But they are not the secret hand guiding things in the background every time there’s a bad news story or reverse of fortune for some progressive candidate, which is basically the role they’re playing in El-Sayed’s campaign.

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-Josh Marshall
July 28, 2026, 4:47 pm

Thank you to everyone who contributed yesterday. A big day of contributions that has gotten us near one of the biggest milestones on the way to our goal. TPM Publisher Joe Ragazzo and I have developed – both statistically and instinctively – a feel for the cadence of the Annual TPM Journalism Fund Drive having run them now for several years. $0 to $250,000 is a sprint. There’s a lot of energy. $250,000 to $400,000 is a slog. Like pushing a boulder up a hill. Once we hit $400,000 it’s a bit like getting to the top of the hill and rolling the boulder down is a lot easier. Not easy. It’s still essential to remind people, make the case. (I have moments wondering: does it make sense to show how the drive sausage is made? Well, in for a time in for a dollar: knocking down that fourth wall has always been the essence of TPM’s reporting and how we communicate with the TPM community.) We’re now $21,350 from that $400,000 milestone. Can you help us get there? If you haven’t had a spare moment to join us this year today would be a great time. Just click right here.

-Josh Marshall
July 28, 2026, 3:15 pm

Here’s a brief follow up, genetically if not literally similar to my post from earlier today about AI bubbles. Axios has a report on the public comments on the Securities and Exchange Commission’s proposal to “ease” (i.e., get rid of) the requirement that public companies issue quarterly disclosure reports. The SEC has received almost a quarter million comments (orders of magnitude more than normal) and they are almost universally against it. Some of this is organized, organizations or company that represent or advocate for investors trying to get people to write in. But it’s mainly that there is simply zero constituency for this: retail investors, institutional investors, former SEC chairs, academics who study business. According to Axios, the pro side was “the Chamber of Commerce, the Business Roundtable and Exxon Mobile.” As they note, the agency has to consider the comments. It’s not a vote. They can move forward regardless.

What struck me here is that it’s almost impossible to look at the current state of the U.S. economy, equity markets, trends in retail investing, the widespread public exposure to mutual funds and index funds, and the increasing inattention to white-collar crime and think that what the economy needs is less transparency. The current head of the SEC, Paul Atkins, has pitched these changes as a way to “make IPOs great again.” First of all, it’s not entirely clear why IPOs should be great again. We want new companies. New companies finding new points of market need, devising new services, finding ways to chip away at the dead wood of monopoly and bureaucratic sclerosis is important to the economy. But that’s not the same as a high-octane culture of IPOs. Indeed, to the extent there are fewer IPOs, it’s more tied to the growth of monopolies. If there are new ideas to be nurtured, it’s happening within the monopolies, or they’re bought out or snuffed out early by those monopolies to ward off future competitors.

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-Josh Marshall
July 28, 2026, 12:54 pm

Like many others, I continue to be baffled and unnerved at how transactions that seem like definitional signs of a bubble (or possibly even fraud) are now so thoroughly baked into the very structure of the AI industry. This morning, Semafor’s Liz Hoffman starts a piece with this overview: “OpenAI and Anthropic need to borrow a lot of money but they don’t have profits or a track record of creditworthiness. Enter Jensen Huang.”

It goes on from there …

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-Josh Marshall
July 27, 2026, 8:46 pm

Lawyers for former Olympian David Hearn, charged with felony vandalism of Trump’s already falling apart Reflecting Pool refurb, went to court today and asked the judge in the case to allow them to review records of the grand jury that charged Hearn with a felony. (I first saw this referenced in an NBC article by TPM alum Ryan Reilly.) You’ll remember the basic details here. Trump’s botched Reflecting Pool job was already visibly peeling up from the bottom of the pool. Hearn appeared to touch one of the peeled up areas. And the Feds charged him with causing at least a substantial amount of the damage.

What’s notable about this is that the Trump DOJ has already been caught on several occasions either committing serious grand jury misconduct or improperly instructing grand jurors so as to secure indictments. That’s what Hearn’s lawyers say happened here. And they make a pretty good case.

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-Josh Marshall
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SessionsWire

Zero Recall: Sessions Punts Questions On Trump, Comey, Russia Probe

Attorney General Jeff Sessions removes his glasses as he speaks on Capitol Hill in Washington, Tuesday, June 13, 2017, while testifying before the Senate Intelligence Committee hearing about his role in the firing of James Comey, his Russian contacts during the campaign and his decision to recuse from an investigation into possible ties between Moscow and associates of President Donald Trump. (AP Photo/Alex Brandon)

In an often-contentious Tuesday hearing before the Senate Intelligence Committee, an indignant Attorney General Jeff Sessions made clear that he was upset that allegations that he knew of collusion between Trump campaign officials and Russian operatives during the election were impugning his “honor.” But in nearly three hours of testimony, he failed to answer many of the key questions that prompted the panel to invite him to testify in open session.

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Dem Senator: ‘Hard To See’ How Sessions Can Be AG After Senate Hearing

Sen. Dick Durbin (D-IL) on Tuesday said it is “hard to see” how Attorney General Jeff Sessions can remain in his position after refusing to answer questions during an open session of the Senate Intelligence Committee.

“Attorney General Sessions has recused himself from the investigation of Russian interference in our election, recommended the dismissal of the Director of the FBI, reportedly offered his resignation to the President, and refused to answer questions from the Senate Intelligence Committee,” Durbin said in a statement. “It is hard to see how he can continue to serve.”

Sessions cited executive privilege several times while testifying before the Senate Intelligence Committee on Tuesday, though he acknowledged that President Donald Trump has not in fact invoked it yet.

“So what is the legal basis for your refusal to answer these questions?” Sen. Angus King (I-ME) pressed him.

“I’m protecting the right of the President to assert it if he chooses,” Sessions replied.

RNC’s Funding Plea Attributed To Trump After Sessions Hearing: ‘WITCH-HUNT!’

President Donald Trump speaks during a cabinet meeting in the Cabinet Room of the White House, Monday, June 12, 2017, in Washington. (AP Photo/Andrew Harnik)

The Republican National Committee sent out a fundraising email on Tuesday attributed to President Donald Trump and warning of a “WITCH-HUNT” after Attorney General Jeff Sessions testified before the Senate Intelligence Committee.

“There is an effort to SABOTAGE us,” the email attributed to Trump reads.

It accused Democrats of “using a conspiracy theory” to “DERAIL” Trump’s presidency.

“We MUST keep fighting,” the email reads. “WITCH-HUNT!”

Trump did not offer any comment on Sessions’ testimony via Twitter, his favored medium for rapid response.

No Republicans (So Far) Will Go On CNN To Respond To Sessions Testimony

CNN’s Wolf Blitzer said after Attorney General Jeff Sessions testified to the Senate Intelligence Committee Tuesday that Republicans hadn’t yet committed to responding to Sessions’ testimony on the network.

“I just want to alert our viewers that we’ve invited Republicans to join us as well,” Blitzer said, before an interview Sen. Chris Murphy (D-CT). “Hopefully they will. So far we’ve received certain maybes down the road.”

McCain To Sessions: ‘I Don’t Recall You’ Being Interested In Russia As A Senator

Sen. John McCain (R-AZ) on Tuesday said he did not recall Attorney General Jeff Sessions taking any interest in Russia as a member of the Senate Armed Services Committee, though Sessions claimed he met with Russian Ambassador Sergei Kislyak in that capacity.

Sessions testified before the Senate Intelligence Committee that he pressed Kislyak on Russia’s actions in Ukraine.

“I remember pushing back on it and it was testy on that subject,” Sessions said.

“Knowing you on the committee, I can’t imagine that,” McCain replied.

He asked Sessions whether he talked to Kislyak about Russian interference in elections held by U.S. allies.

“I don’t recall that being discussed,” Sessions said.

“If you spoke with Ambassador Kislyak in your capacity as a member of the Armed Services Committee, you presumably talked with him about Russia-related security issues that you have demonstrated as important to you as a member of the committee,” McCain said.

“Did I discuss security issues?” Sessions repeated in apparent confusion.

“I don’t recall you as being particularly vocal on such issues,” McCain said. “In your capacity as the chairman of the Strategic Forces Subcommittee, what Russia-related security issues did you hold hearings on or otherwise demonstrate a keen interest in?”

“We may have discussed that,” Sessions said, apparently responding to McCain’s earlier question. “I just don’t have a real recall of the meeting. I was not making a report about it to anyone. I just was basically willing to meet and see what he discussed.”

“And his response was?” McCain pressed.

“I don’t recall,” Sessions said.

Sen. Reed Confronts Sessions With Flip-Flops On Comey Handling Of Clinton Emails

Attorney General Jeff Sessions was confronted with his flip-flops on then-FBI Director James Comey’s handling of the investigation into Hillary Clinton’s private email server Tuesday.

During a hearing of the Senate Intelligence Committee, Sen. Jack Reed (D-RI) quoted Sessions’ responses to then-FBI Director James Comey’s announcement in July 2016 that he would not recommend charges against Clinton.

Sessions signed onto a memo from Deputy Attorney General Rod Rosenstein that cited Comey’s handling of the case as unprofessional, and one justification for his firing.

On July 7, Reed said, Sessions said the email investigation dismissal “was not his problem, it’s Hillary Clinton’s problem,” referring to Comey.

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Sessions Snaps At Harris: ‘If I Don’t Qualify’ My Answers, ‘You’ll Accuse Me Of Lying’

Attorney General Jeff Sessions snapped at Sen. Kamala Harris (D-CA) during a hearing of the Senate Intelligence Committee Tuesday, saying the pace of her questioning made him nervous, and that she would accuse him of lying if he was not given time to qualify his answers.

“As it relates to your knowledge, Did you have any communication with any Russian businessmen or any Russian nationals?” Harris asked Sessions.

“I don’t believe I had any conversation with Russian businessmen or Russian nationals—” Sessions began in response.

Harris interjected: “Are you aware of any communications — 

“— although a lot of people were at the convention it’s conceivable that somebody —” Sessions continued, before Harris spoke again

“Sir, I have just a few—” she began.

“Will you let me qualify it!” Sessions said, voice raised. “If I don’t qualify it, you’ll accuse me of lying. So I need to be as correct as best I can—”

“I do want you to be honest,” Harris said

“—and I’m not able to be rushed this fast. It makes me nervous,” Sessions said.

Watch below via ABC News:

Sessions: Accusations Against Me Are ‘Just Like Through The Looking Glass’

Attorney General Jeff Sessions on Tuesday said suggestions he met with Russian officials to influence the 2016 election are like a story written by Lewis Carroll.

Sessions’ simile was perhaps prompted by Sen. Tom Cotton’s (R-AR) remark that Democrats went “down lots of other rabbit trails” in their lines of questioning as Sessions testified before the Senate Intelligence Committee.

“It’s just like through the looking glass. I mean, what is this?” Sessions said.

Sessions said he “explained how in good faith” he claimed he had not met with Russian officials.

“They were suggesting I as a surrogate had been meeting continuously with Russians,” Sessions said. “I said I didn’t meet with them. And now, the next thing you know, I’m accused of some reception, plotting some sort of influence campaign for the American election. It’s just beyond my capability to understand.”

Sessions: All I Know About Russian Meddling ‘I’ve Read In The Paper’

Attorney General Jeff Sessions speaks on Capitol Hill in Washington, Tuesday, June 13, 2017, prior to testifying before the Senate Intelligence Committee hearing about his role in the firing of James Comey, his Russian contacts during the campaign and his decision to recuse from an investigation into possible ties between Moscow and associates of President Donald Trump. (AP Photo/Alex Brandon)

Attorney General Jeff Sessions told the Senate Intelligence Committee Tuesday that all he knew about Russian meddling in the 2016 election he had learned from press reports.

Earlier in the hearing, Sessions said he had “in effect” recused himself from campaign-related matters the day after he was sworn in as attorney general, and not after later reports he had had undisclosed meetings with the Russian ambassador — at which point he publicly announced a recusal for the first time.

“Do you believe the Russians interfered with the 2016 election?” Sen. Angus King (I-ME) asked Sessions.

“It appears so,” Sessions said. “The intelligence community seems to be united in that. But I have to tell you, Sen. King, I know nothing but what I’ve read in the paper. I’ve never received any detailed briefing on how a hacking occurred or how information was alleged to have influenced the campaign.”

“There was a memorandum from the intelligence community on Oct. 9 that detailed what the Russians were doing,” King said. “After the election, before the inauguration, you never sought any information about this rather dramatic attack on our country?”

“No,” Sessions replied.

“You never asked for a briefing or attended a briefing or read the intelligence reports?” King asked.

“You might have been very critical of me if I, as an active part of the campaign, was seeking intelligence relating to something that might be relevant to the campaign,” Sessions said. “I’m not sure that would be —”

“I’m not talking about the campaign,” King interjected. “I’m talking about what the Russians did. You received no briefing on the Russian active measures in connection with the 2016 election?”

“No, I don’t believe I ever did,” Sessions said.