Former House Speaker and current FOX News Board member Paul Ryan

Former Speaker and unabashed Trump-hater Paul Ryan pushed FOX News owners Rupert and Lachlan Murdoch to refrain from reporting on allegations of election fraud following the 2020 election.

In February court documents were leaked out from the Dominion Voting Systems lawsuit against FOX News.

Dominion Voting Systems sued FOX News for $1.6 billion in a defamation lawsuit in March 2021.

In the court documents, FOX News discovered that Dominion’s own employees expressed serious concerns about the security of their voting machines.

FOX News later reportedly settled the lawsuit with Dominion for $787 million anyway.  This was a stunning amount to turn over to the Dominion company considering the statements made by the top officials at the Dominion company.

Mark Beckstrand, a Dominion Sales Manager, confirmed that other parties “have gotten ahold of [Dominion’s] equipment illicitly” in the past. Beckstrand identified specific instances in Georgia and North Carolina and testified that a Dominion machine was “hacked” in Michigan. Beckstrand confirmed that these security failures were “reported about in the news.”

And just weeks before the 2020 presidential election, Dominion’s Director of Product Strategy and Security, Eric Coomer, acknowledged in private that “our shit is just riddled with bugs.” According to the brief, in 2019, Coomer noted that “our products suck.” He lamented that “[a]lmost all” of Dominion’s technological failings were “due to our complete f— up in installation.”

The court documents also reveal the level of former Speaker Paul Ryan’s influence at FOX News.

It is no secret that Paul Ryan is not a Trump supporter.  Ryan is open about his disdain for Trump and his supporters.

As a board member, Paul Ryan urged the FOX News owners to “move on from Trump” in the months following the 2020 election.

This was despite the fact FOX News knew at the time that the channel was losing its core audience by not reporting on the 2020 election fraud.

From page 23 of the court document.

Paul Ryan urged Rupert and Lachlan to “move on from Donald Trump and stop spouting lies.”

page 24

FOX News officials knew they had lost the trust of their core audience following the 2020 election. A poll by YouGov at the time showed FOX News “underwater” with core viewers. Paul Ryan did not seem to care.

Page 24 and 25

On Monday FOX News parted ways with its star host Tucker Carlson.  Tucker had the most-watched show on cable news with 3.25 million total nightly viewers in the month of March.

Obviously, the FOX News Board was involved in the decision to remove Tucker Carlson from the lineup.  Certainly, Paul Ryan was also involved.

FOX News may want to reevaluate the value Paul Ryan is bringing to the company. Alienating their Trump-supporting base is probably not the best move for the conservative news channel.

You don’t have to be a board member to see that.

The post FOX Corp Board Member Paul Ryan Urged FOX News to “Move on from Trump” – Was Likely Involved in Tucker Carlson’s Separation from Channel appeared first on The Gateway Pundit.

First Republic Bank said customer deposits tumbled 40% in Q1 – worse than Wall Street expected.

Deposits fell to $104.5 billion in the first quarter but the bank says deposits have since stabilized.

CNBC reported:

Troubled regional bank First Republic said Monday that its deposits fell 40.8% to $104.5 billion in the first quarter, which saw the collapse of two other mid-sized banks and sparked fear from customers about widespread bank failures.

The deposit flight at First Republic was worse than Wall Street expected, with analysts estimating the quarter-end figure to be about $145 billion, according to the consensus estimate from FactSet’s StreetAccount. Analysts’ deposit estimates ranged from $100 billion to $206 billion, according to FactSet.

First Republic said Monday that deposit flows have since stabilized.

“Deposit activity began to stabilize beginning the week of March 27, 2023, and has remained stable through Friday, April 21, 2023. Total deposits were $102.7 billion as of April 21, 2023, down only 1.7% from March 31, 2023, primarily reflecting seasonal client tax payments that occur each April,” the release said.

The deposit figure for the end of March included $30 billion in time deposits from 11 larger banks that was announced on March 16 in an attempt to stabilize the broader banking system. If those deposits were excluded, First Republic’s deposits would have fallen by more than 50%.

Last month First Republic was downgraded to junk by S&P.

“We believe the risk of deposit outflows is elevated at First Republic Bank despite the actions of federal banking regulators and the bank actively increasing its borrowing availability to mitigate risk associated with the bank failures over the last week,” S&P said in a statement.

“Still, if deposit outflows continue, we expect First Republic would need to rely on its more costly wholesale borrowings. This would encumber its balance sheet and hurt its modest profitability,” said S&P, according to Market Watch.

Top Executives at First Republic Bank sold $12 million in company stock before shares plummeted last month, according to the Wall Street Journal.

Customers were lined up at a First Republic Bank in Los Angeles on Saturday to withdraw their money after Silicon Valley Bank failed.

WATCH:

I’ve never seen a bank run in Brentwood Los Angeles in over 40 years — this is at first republic bank branch. People standing in rain pic.twitter.com/k31PqqpyO3

— pjb.eth (@Dr_PhillipB) March 11, 2023

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