2026-06-04
Supreme Court upholds FCC fines. House votes to restrain Iran war. Markets price in Musk mythmaking.
Good afternoon. The Court blessed the FCC's billion-dollar hand. Congress broke ranks on war. A housing foreclosure case will decide how much equity homeowners lose when the state auctions the deed.
SpaceX IPO valuation logic: ask Musk. He'll give you a better story than a spreadsheet.
Lunch Brief
8-1 vote. Chief Justice Roberts ruled the companies get no jury trial to contest the fines. The Court's majority sided with the FCC's regulatory reach without blinking.
Supreme Court affirmed Red Cross access to Palestinian detainees under international law. Government ban does not survive judicial review.
Acting AG Blanche, Trump's former criminal defense lawyer, moves to permanent post. Paperwork hits Thursday. The Justice Department stays in friendly hands.
Lebanon agreed to halt fire with Israel. Israeli drone strikes in the south continued anyway. The announcement and the reality ran parallel.
Michigan case will decide whether homeowners recover only auction cash or compensation for erased equity. The ruling applies nationwide and reshapes tax-sale procedure.
The measure signals growing unease on the war among members. Symbolic votes often precede real ones.
Tuesday's filing alleges the organization created shell bank accounts to fund informants in hate groups. Original indictment came in April. The case now carries additional charges.
Section 702 renewal talks collapsed when Trump named housing finance guru Pulte as spy chief. Congress now waits for the White House to negotiate its own bill.
- House votes to restrain Trump's Iran war powers
- Marjane Satrapi, 'Persepolis' author, dies at 56
- SpaceX IPO shows Musk’s genius is in mythmaking
- Bloomberg's market surveillance continues
"Standard noise. Calibrate accordingly."
"The wire took a breath. Don't get used to it."
Court blessed the telecom fine, Congress voted to restrain war it can't stop, and homeowners are about to learn what their equity is worth.
Back at 6:00 PM ET with the night owl brief.