Category: News
Credit Card Stocks Tumble As Trump Floats One-Year 10% Rate Cap
Credit Card Stocks Tumble As Trump Floats One-Year 10% Rate Cap
European and US credit card companies are sliding in premarket trading after President Trump said on Truth Social late Friday (read report) that a 10% cap on credit card interest rates is very much on the table as part of his push to improve affordability.
In a Truth Social post, Trump said Americans are being “ripped off” by credit card companies that charge interest rates of 20 to 30% and vowed that his administration will put an end to it.
“AFFORDABILITY! Effective January 20, 2026, I, as President of the United States, am calling for a one-year cap on Credit Card Interest Rates of 10%,” the president stated.
The cap’s proposed start date coincides with the anniversary of Trump’s second-term inauguration and, if implemented, would fulfill his 2024 election campaign pledge.
Two months later… https://t.co/POf3Y4jlrq pic.twitter.com/D4BlY4PD1i
— zerohedge (@zerohedge) January 10, 2026
American Express, Capital One, Visa, Mastercard, JPMorgan, Citi, and Wells Fargo all declined in New York premarket trading, with Capital One and Citi among the hardest hit due to their heavy exposure to credit card lending.
Premarket movers:
American Express -4.4%,
Capital One Financial -8.7%,
Mastercard -2% and Visa -1.6%
Also track:
Wells Fargo -2.1%,
JPMorgan Chase -3%,
Citi -4%
European lenders that offer US credit cards were also declining late in the session:
Barclays -3.2%,
Santander -1.6%
and HSBC -.2%
Goldman analyst Gaelle Jarrousse commented on credit card firms and bank stocks tumbling in the European cash session, as well as the downward pressure on the same types of companies in the U.S. premarket:
Let’s start with BARCLAYS down 4-5% at the open on the US CREDIT CARD CAP. Negative headlines post Friday US close from Trump who suggested a cap on credit cards to 10%. However, for this to work, the congress needs to pass a law and we have seen in the past, senators such as Sanders introducing bills proposing a 10% cap but none of them advanced into law. On top of that, banks and credit cards companies have started to lobby and highlighted the contraction of credit card availability that will result from such a measure.
. . .
The US credit cards headline is adding to the pressure we have seen on banks over past few sessions given valuation level (sector on 9.5x 27e) and positioning.
In a separate note, JPMorgan analyst Vivek Juneja warned there will be a “material hit” if this is enacted and “could push consumers into more expensive debt.”
Juneja said that while the news will be negative for bank stocks, “this rate cap would not address the root of the problem,” which is the rising Fed fund rate.
He said that among the banks in the JPM universe: “Citi has the highest share of credit card loans at 23% of total, followed by JP Morgan (16%), Bank of America (9%), US Bancorp (8%), and Wells Fargo (6%).”
Bloomberg Intelligence analyst Philip Richards pointed out that Trump’s demand for lower credit card rates “might not be enforced in full given the strength of US bank lobby groups.”
Cowen analyst Moshe Orenbuch said, “This is a resurgence of Trump’s campaign promise, and an escalation of the headline risk for credit card issuers.”
Tyler Durden
Mon, 01/12/2026 – 07:45
https://www.zerohedge.com/markets/credit-card-stocks-tumble-trump-floats-one-year-10-rate-cap
Pope Leo XIV meets with Venezuelan opposition leader María Corina Machado in surprise audience
ROME — Pope Leo XIV met with Venezuelan opposition leader and Nobel Peace Prize winner María Corina Machado in a private audience at the Vatican on Monday.
The meeting, which hadn’t been previously included in the list of Leo’s planned appointments, was later listed by the Vatican in its daily bulletin, without adding details.
Machado is touring Europe and the United States after she reemerged in December to accept her Nobel Peace Prize in Norway.
Pope Leo, the first American pontiff, has called for Venezuela to remain an independent country after U.S. forces captured former Venezuelan President Nicolas Maduro from his compound in Caracas and flew him to New York to face federal charges of drug-trafficking.
Leo had said he was following the developments in Venezuela with “deep concern,” and urged the protection of human and civil rights in the Latin American country.
Venezuela’s opposition, backed by consecutive Republican and Democratic administrations in the U.S., had vowed for years to immediately replace Maduro with one of their own and restore democracy to the oil-rich country. But U.S. President Donald Trump delivered them a heavy blow by allowing Maduro’s vice president, Delcy Rodríguez, to assume control.
Meanwhile, most opposition leaders, including Machado, are in exile or prison.
After winning the 2025 Nobel Prize for Peace, Machado said she’d like to give or share it with Trump.
Machado dedicated the prize to Trump, along with the people of Venezuela, shortly after it was announced. Trump has coveted and openly campaigned for winning the Nobel Prize himself since his return to office.
Wave Of Costly Copper Thefts Threatens Public Safety, Experts Say
Wave Of Costly Copper Thefts Threatens Public Safety, Experts Say
Authored by Allen Stein via The Epoch Times,
With copper prices at new highs, attacks on communications and power networks have sharply increased, and telecommunications companies, power suppliers, and construction firms are sounding the alarm.
Copper was trading at roughly $6 per pound or $12,000 a ton at midday on Jan. 7, a more than 30 percent year-over-year increase, according to industry analyst MarketWatch.
The increase in price contributed to the more than 15,540 copper theft incidents in 2025, according to a report by the U.S. Telecommunication Association. The volume of thefts during the first half of the year was double the previous period.
“Today, bad actors typically target communications lines in search of copper,” the report stated.
“They steal encased copper cables and cut them into short lengths before burning them to remove the sheathing to reveal the raw copper inside.”
Copper thefts have caused entire buildings to lose power and left some streets without lights.
On Dec. 30, 2025, a copper theft in Elysian Park silenced the radios of Los Angeles Department of Transportation Officers, cutting off their communication and leaving them without emergency support.
In October, thieves stole $50,000 worth of copper wire from a telephone pole in Mission Hills, Los Angeles, disrupting service for Frontier and AT&T customers.
Police later apprehended two suspects allegedly linked to the crime.
In late January 2025, Solano Widenmann Leadership Academy in Vallejo, California, lost power, but it was no ordinary outage.
Thieves slipped into the building at night, stripped it of copper, and left behind a costly mess that shuttered the public K–8 school for two days and cost $200,000 in repairs.
Powerlines in Los Angeles on April 4, 2024. John Fredricks/The Epoch Times
In December 2025, the Loudoun County Sheriff’s Office in Maryland arrested three people linked to a copper theft ring responsible for more than $3 million in losses.
The arrests followed an eight-month investigation into reports of copper wire theft at utilities across the county and other areas.
In the last six months of 2025, police in Portland, Oregon, responded to a sharp increase in copper thefts.
“These thefts have significantly disrupted communication services—particularly landline connections—and impacted local businesses and emergency response systems,” according to the city’s website. The crimes caused more than $2 million in losses and damage across the city.
Wiring is stripped of its copper interior after an incident of theft in Los Angeles on April 4, 2024. John Fredricks/The Epoch Times
USTelecom said a key factor driving this activity is the ease with which thieves sell stolen materials and equipment to scrap metal dealers and resellers.
Often, this takes place with little oversight or accountability.
Todd Foreman, senior director of law enforcement outreach at the Recycled Materials Association (ReMA), noted that rising copper values have led to an increase in theft reports on scraptheftalert.com, a law enforcement resource.
Developed by ReMA, this tool enables users to notify the recycled materials industry of significant material thefts in the United States and Canada.
Once checked and approved, alerts are sent by email to all users who have signed up and are within 100 miles of where the theft happened.
Foreman said one recent case involved the theft of $18,000 worth of communications wiring. By using the online tool and working with community members, victims, and recyclers, police caught two suspects.
Wiring sits stripped of its copper interior after an incident of theft in Los Angeles on April 4, 2024. John Fredricks/The Epoch Times
Federal Communications Commissioner Olivia Trusty told officials in October 2025 that carriers such as Charter and AT&T are facing escalating attacks on their networks.
“These are not minor disruptions,” Trusty said. “They are major attacks on public safety, economic security, and national resilience.”
Because stealing copper poses a threat to national security, Trusty said Congress and law enforcement should make these thefts a top priority.
Telecoms Targeted
In 2025 alone, nationwide copper theft cost AT&T $76 million, with at least 8,700 incidents reported, a company spokesman told The Epoch Times.
These incidents turned off streetlights, cut phone and internet services, and cost several million dollars in repairs across the state.
“Copper theft and vandalism of communications infrastructure are serious criminal matters that disrupt services for our customers, public safety, and the community at large,” the spokesman said.
AT&T is now offering cash rewards for information that leads to arrests and convictions.
The company is offering $20,000 in California and Missouri, and $10,000 in the Dallas-Fort Worth area.
“This reward is more than an enforcement tool. It’s a call to action for communities to work together to protect the infrastructure that powers our daily lives,” the company said.
AT&T said it works with law enforcement to help ensure copper thieves are caught and held accountable.
“When copper theft occurs, AT&T acts as quickly and safely as possible to restore service to affected customers and communities,” the spokesman said.
“We regularly review and enhance the security of our infrastructure to help prevent these incidents.”
Workers repair a section of cable severed by vandals who stole 500 feet of copper cable from train tracks along the A subway line in New York City, on May 27, 2015. MTA/Marc A. Hermann via AP
The improvements include securing entry points to critical infrastructure, installing metal casings to protect wires, and locking or welding maintenance hole lids to prevent unauthorized access.
Verizon is also strengthening its network infrastructure by installing metal cages around critical cell sites and equipment, adding security cameras in high-risk areas, and enhancing perimeter fencing.
“Beyond raising awareness of this issue, we are rolling out robust and proactive theft reduction initiatives across our network,” a company spokesman told The Epoch Times.
It is also installing GPS tracking devices within network cables. If tampering occurs, the device immediately alerts Verizon’s Network Operations Center, which notifies police and local management.
A woman walks past a street light subjected to wire theft in Los Angeles on April 4, 2024. John Fredricks/The Epoch Times
The USTelecom report stressed that tackling the demand for stolen copper is just as crucial as protecting networks. It called for law enforcement, companies, and lawmakers to work together.
California Assembly Bill 476, signed by Gov. Gavin Newsom in late 2025, aims to curb copper wire theft by imposing new rules on scrap metal dealers.
The bipartisan law requires dealers to verify sellers’ identities, obtain signed statements, and maintain better records to protect critical systems and prevent stolen materials from being sold.
Other states have signed similar legislation, such as Minnesota’s copper theft law, which went into effect on Jan. 1, 2025.
The new law aims to prevent copper wire theft by requiring anyone selling scrap copper to hold a license.
Tyler Durden
Mon, 01/12/2026 – 07:20
https://www.zerohedge.com/commodities/wave-costly-copper-thefts-threatens-public-safety-experts-say
Monthly Spill Sessions in Highwood restaurants and bars created to spark stimulating conversations in places people already love
Lively conversations on fascinating topics in casual settings is the Highwood Chamber of Commerce’s plan for its new monthly Spill Sessions. A bonus is that each of the events will be held in a different Highwood restaurant or bar, where attendees will enjoy a complimentary beverage and some tasty light bites, in addition to a stimulating conversation.
“We want to give people a reason to experience Highwood in a way that feels both social and meaningful,” said Jennifur Condon, Executive Director of the Highwood Chamber of Commerce. “Instead of putting someone up on a stage in a more formal setting, we’re trying to bring thoughtful conversation into places that people already love — our bars and restaurants.”
In choosing subjects for the monthly events, Condon said, “I’m trying to come up with people who are interesting and maybe unusual in an effort to get people into Highwood, which I am passionate about.”
The series begins at 6 p.m. Jan. 21 at The Merchant, 122 North Avenue, with former Project Runway contestant Peach Carr.
“I had watched Project Runway long ago and I had learned that Peach Carr is a Lake Forest resident,” Condon said. “I reached out to her and she was very excited about helping us out.”
Carr never planned to enter Project Runway, she admitted. “My daughter and I were watching the show — she was almost 16 at the time — and she said, ‘You should be on Project Runway.’”
She recalled telling her daughter, “You should mind your own business.”
Carr explained that, although she was a designer, she had never gone to fashion school. “I just learned how to sew in 4-H,” she said.
Her daughter, Molly, decided not to mind her own business and sent in the application for her mother.
Carr wasn’t accepted the year her daughter applied for her but she made it the next year, from a field of 44,000 designers! That was in 2010.
Peach Carr of Lake Forest, a former Project Runway contestant, will be the speaker at Highwood Chamber of Commerce’s first Spill Session, Jan. 21, at The Merchant in Highwood. (Provided by Highwood Chamber of Commerce)
“I cried the whole way there on the airplane,” Carr recalled. “The woman next to me thought I was going to a funeral.”
Even though, before being chosen for the show, Carr had only made children’s clothing, she was one of the six finalists.
“I was happy and grateful and nice to everyone,” Carr recalled.
She made such a strong impact on the staff of the show, because of those traits, that Carr was given a contract by Project Runway and Lifeline to represent them across the country, doing events. For the next eight years, she hosted fashion shows, meet-and-greets with fans, and other events.
Since she is no longer under contract, Carr will be able to share all the secrets of Project Runway and how the show changed her life at the Spill Session.
The February Spill Session will be at 6 p.m. Feb. 18 at Beermiscuous, 552 Sheridan Road. It will feature two authorities — Daniel Weinberg, President of the Abraham Lincoln Book Shop in Chicago, and Roxana Uskali, Director of Numismatics at Heritage Auctions.
Glencoe native Daniel Weinberg, President of the Abraham Lincoln Book Shop, will share stories about Abraham Lincoln at the Highwood Chamber of Commerce’s Feb. 18 Spill Session, at Beermiscuous in Highwood. (Provided by Highwood Chamber of Commerce)
Weinberg has been president of the Abraham Lincoln Book Shop for 54 years.
“I’ve always been interested in history since I was a child,” he said. “I had been working part-time at a book shop, Paperback City, in New York and enjoyed what I was doing.”
When he was 27, Weinberg, who grew up in Glencoe and was in New Trier High School’s class of 1962, returned to Chicago. There he met Ralph Newman, who had opened the Abraham Lincoln Book Shop in 1938 and began a partnership with him that lasted 13 years, after which Weinberg ran the shop alone.
His criteria for selecting books for the shop involve looking for “something I think will sell,” Weinberg laughingly admitted. “It takes time to see what books are worthwhile and what people might like to read or collect.”
They don’t just sell books, though. “We look like a museum because we have artifacts and autographed pieces, letters, documents, statuary, oil paintings, and photography,” Weinberg said.
What distinguishes this from a museum, though, is that all of the items are for sale.
“The research is fascinating to do,” Weinberg said. “Every artifact has a story.”
The shop also has a broadcast studio where, since 2005, Weinberg has been interviewing authors and people in the field.
At the Spill Session, Weinberg said he will talk about the artifacts and let the audience know “Why Lincoln is interesting to people today and why he should be.”
Uskali has been Director of Numismatics at Heritage Auctions since they opened a Chicago office in 2017.
“Every day is different,” Uskali declared of her responsibilities. “A lot of times, I’m meeting the client face-to-face. Sometimes I’m emailing with people; it could be all over the world. A lot of times I’m traveling to look at a collection in person.” She also travels to coin shows, in this country and abroad.
Roxana Uskali, Director of Numismatics at Heritage Auctions will talk about what you should know about pennies before they disappear at the Highwood Chamber of Commerce’s Feb. 18 Spill Session, at Beermiscuous in Highwood. (Provided by Highwood Chamber of Commerce)
During the Spill Session, Uskali will be talking about pennies. “People have been looking at pennies online for years,” she said. “The discontinuation of the penny is creating more interest in it now.” She revealed that, before production stops, the government is issuing a limited edition of about 233 sets of pennies with the Omega symbol on them. That’s the last letter in the Greek alphabet, “to signify the end of the series,” she said.
People are being asked to bring a coin or two to the Spill Session. “This is like a pseudo mini ‘Antiques Roadshow,’” Uskali said. “They can ask me questions about it.”
Uskali believes people should be interested in coins and “in money in general,” she said. “I think it’s really important that people know the history behind the coins. There’s battles that are commemorated. There’s weddings and marriages. All this stuff is really important and it’s on a nice coin with a beautiful image that’s taken a lot of time to produce.”
Condon said that she is grateful that Highpoint Living, which owns three apartment buildings on Green Bay Road, is one of the sponsors of the series.
The cost for each Spill Session is $40, which includes a beverage and light bites. Registration is required at highwoodchamber.com/events.
The Highwood Chamber of Commerce plans to continue sharing the charms of its community with its first-ever Restaurant Week, “Eat. Drink. Highwood,” Feb. 3-7. Watch the website for details.
Myrna Petlicki is a freelance reporter for Pioneer Press.
‘He’s really just scratching the surface’: Chicago Bears rookie Colston Loveland making big games look routine
Apparently, Colston Loveland is that “dude.”
After the rookie tight end led the Chicago Bears in Saturday’s 31-27 win over the Green Bay Packers with eight receptions for 137 yards, former Bears tight end and current Fox Sports analyst Greg Olsen exclaimed on social media, “Colston Loveland is a dude!!!”
“The dude is a baller, through and through,” Bears wide receiver Rome Odunze said. “He’s doing that throughout the whole entire season. Seeing him go out there and making plays really was no surprise.”
Loveland’s performance included the second-most yards in NFL postseason history for a rookie tight end behind the Philadelphia Eagles’ Keith Jackson, who had 142 receiving yards in a 20-12 loss to the Bears on Dec. 31, 1988, at Soldier Field.
Loveland also passed Willie Gault (129) on the Bears’ all-time list for the second-most receiving yards in a postseason game, trailing only Allen Robinson’s 143 yards on 10 catches during a 16-15 loss to the Eagles on Jan. 6, 2019.
But it goes beyond the historical ledger.
With the Bears’ playoff lives on the line, their reliance on a rookie tight end was telling. After they fell behind 21-3 at halftime, Loveland repeatedly moved the chains on must-have drives in the second half.
During one stretch in the late second and early third quarters, quarterback Caleb Williams targeted Loveland on seven of eight attempts, including six consecutive targets.
“I appreciate it,” Loveland said. “Obviously, anytime the ball is in the air, I want to make a play. And I had a couple drops, which I’ve got to clean up. But just super blessed to have that trust.”
Chicago Bears tight end Colston Loveland (84) runs toward the end zone late in the fourth quarter against the Cincinnati Bengals at Paycor Stadium in Cincinnati on Sunday, Nov. 2, 2025. (Eileen T. Meslar/Chicago Tribune)
The Bears drafted Loveland with the No. 10 pick out of Michigan to be a playmaker. He already has had some big moments, including a game-winning 58-yard touchdown against the Cincinnati Bengals with 17 seconds left in a 47-42 barnburner in Week 9.
“He’s a guy that, when we drafted him, he was still coming off the (shoulder) injury,” Bears coach Ben Johnson said. “He really missed the springtime, and in training camp you’re trying to be smart in terms of how you’re acclimating him not just to the offense but physically, making sure his shoulder is good to go.
“It did take a little bit of time before we built that trust with him.”
In fact, Loveland didn’t reach 137 yards in his first six games combined.
He had 12 yards against the Minnesota Vikings in the season opener and was blanked against the Lions the next week in Detroit. Through six games he had caught 11 passes for 116 yards.
Then he had his breakout: six receptions for 118 yards and two touchdowns on Nov. 2 against the Bengals.
“A little bit of a slower start early in the year, and then it’s just kind of picked up and it’s clicked for us,” Johnson said. “I know Caleb has an immense amount of trust in him.
“Model of consistency, which for a rookie speaks volumes. As a coaching staff I know we really believe in him, and he’s really just scratching the surface of what he’s going to become.”
Chicago Bears tight end Colston Loveland signs autographs for fans after warming up for an NFC wild-card game against the Green Bay Packers at Soldier Field in Chicago on Jan. 10, 2026. (Chris Sweda/Chicago Tribune)
Here’s a breakdown of some of Loveland’s key catches Saturday night at Soldier Field.
Second quarter, 1st-and-10 at the Bears 35-yard line
Result: 22-yard reception to the Packers 43.
Context: On replay, Loveland twitched his leg and nearly false-started, but no flag was thrown.
Luther Burden III motioned over to Loveland’s side, and Packers safety Xavier McKinney started to backpedal. Loveland ran up the seam and curled inside McKinney.
That drive resulted in a turnover on downs with an incompletion to Loveland over the middle on fourth-and-4, but the earlier play was Loveland’s first reception and Williams’ first completion of more than 20 yards.
Third quarter, third-and-7 at the Bears 40
Result: 29-yard reception to the Packers 31.
Next play, first-and-10 at the Packers 31
Result: 19-yard reception to the Packers 12.
Context: Williams had just thrown an incompletion to Loveland on 2nd-and-7, but he went right back to the rookie for a 29-yard hookup. The Bears had three pass catchers bunched to the left. The Packers sent McKinney on a safety blitz, so the Bears had a three-on-two and Loveland drifted to the sideline uncovered.
On the next play, Williams found him again on a crossing route for a 19-yard gain, 11 coming after the catch.
That drive resulted in a 34-yard Cairo Santos field goal and chipped the deficit to 21-6.
Fourth quarter, first-and-10 at the Bears 45
Result: 22-yard reception to the Packers 33.
Two plays later, second-and-10 at the Packers 33
Result: 21-yard reception to the Packers 12.
Context: After an 11-yard scramble by Williams, the Bears went no huddle and Loveland beat the Packers nickel package with an out-breaker to the left.
“Just a little sail-out route,” Loveland said. “Just no one there.”
Perhaps it should be called a sell route. DJ Moore sold the clear-out to Packers cornerback Carrington Valentine, nickel cornerback Javon Bullard bit on Cole Kmet’s flat route and free safety Evan Williams played back like he was expecting a deep middle shot to Loveland, leaving Loveland plenty of green grass to operate.
Two plays later, Loveland ran another out route and beat linebacker Quay Walker on a 21-yarder to the left sideline that carried the Bears to the 12. Walker played it well, but Loveland’s athleticism shone through.
D’Andre Swift finished off the drive with a 6-yard touchdown run.
Fourth quarter, 2-point conversion try at the Packers 2
Result: Williams completed a pass shallow left to Loveland.
Context: After the Bears pulled within 27-22 on Williams’ 8-yard connection with Olamide Zaccheaus, he found Loveland by the left pylon for the 2-point conversion.
The conversion was huge. Not only did it put the Bears within a field goal of tying the Packers, but when the Bears scored a touchdown later, it forced the Packers, down by four, to go for a touchdown instead of a field goal.
Fourth quarter, second-and-10 at the Bears 34
Result: 12-yard reception to the Bears 46.
Context: On second-and-10, Loveland helped keep the game-winning drive going with a 12-yard pickup, 5 of which he gained after the catch.
Four plays later, Williams lobbed the go-ahead touchdown pass to Moore.
After the game, Williams sang Loveland’s praises.
“We got a home run with him, and that’s something coach said the other day to me,” Williams said. “We were sitting in his office and everybody goes back to draft night. Why did we get Colston Loveland and why did we do this and why did we do that?
“It’s Colston Loveland, you know what I mean? That’s who he is. One of the hardest workers on this team. He’s there late, he’s there early. His body language when he’s on the field, all of that is — I’m excited for what’s to come.”
Loveland, who won a national championship with Michigan in 2023, said the moment wasn’t too big for him in his NFL playoff debut.
“There was definitely a lot more hype around it, but at the end of the day, you’re going out there and playing a game you’ve always been playing,” he said. “That’s important to remember that. You’ve played this game before. Don’t let the lights be too bright.”
https://www.chicagotribune.com/2026/01/12/chicago-bears-colston-loveland-big-games/
Watch: Chaos Erupts As U-Haul Driven Into LA Protest Against Iran Regime
Watch: Chaos Erupts As U-Haul Driven Into LA Protest Against Iran Regime
Amid reports that hundreds of anti-government demonstrators in Iran have been killed in recent days — and President Trump reportedly considering US intervention — tensions over the Iran crisis hit a flash point in Los Angeles on Sunday when a U-Haul truck with signage opposing the reinstallation of an Iranian monarchy drove through a group of marchers calling for regime change. The crowd quickly went from frightened screams to outraged violence, mobbing the truck after it stopped and pummeling the driver as police took him into custody.
The incident, which appears to spring from clashing views within the Iranian diaspora, unfolded at 3:40pm on Sunday afternoon, after a crowd of demonstrators had gathered in LA’s upscale Westwood. Along with adjacent Westside neighborhoods, Westwood forms the epicenter of LA’s prosperous Iranian-American population. At approximately 138,000, it’s one of the largest populations of Iranians in the world outside of Iran. As the crowd was in the vicinity of the Wilshire Federal Building, video showed a truck moving at a decidedly unsafe but not necessarily homicidal speed down Wilshire Boulevard as it was lined with demonstrators.
BREAKING: Truck drives into crowd in Los Angeles, California pic.twitter.com/tVnUlfbyxx
— Rapid Report (@RapidReport2025) January 11, 2026
There’s reason to believe the U-Haul driver didn’t intend to hurt people: He was in a large truck and caused no casualties. No ambulances were called to the scene, and police said they’ve only confirmed that one person was hit by the truck, and wasn’t seriously injured. The Los Angeles Fire Department said the two people whom they evaluated at the site of the incident declined treatment. LA Police said they do not consider it an act of terrorism, but rather that it started with an altercation. That would seem to indicate the driver may have been using the banner-laden truck to advertise his particular views on Iran’s future, and triggered a potent response from the demonstrators that led the driver to flee in haste. He had no prior arrest record, but now faces possible charges of assault with a deadly weapon.
The driver of the truck came out the worst of anyone. After he stopped, a mob surrounded him, jabbed him with a flagpole, and tried to drag him out of the vehicle. After police worked their way through the crowd, they struggled to take control of the area, and some serious shoving went on between demonstrators and officers too:
First look at the man who drove a U-Haul through a riot in Los Angeles. pic.twitter.com/UbvnP6AiVt
— JKash 🍊MAGA Queen (@JKash000) January 12, 2026
After managing to take the bloodied, cooperative driver into custody and putting him in cuffs, officers were unable to prevent members of the crowd from continuing to beat him, and a man standing on the truck’s hood kicked him in the head. He was taken to a hospital for treatment for unspecified injuries, and hasn’t been named yet. Not satisfied with beating the driver, some in the angry mob also made U-Haul pay a price too, smashing the windshield of the rental truck and trying to break its mirrors.
A closer look at the driver of the UHaul truck.
The only thing keeping this MEK terrorist from being torn to pieces is the LAPD. https://t.co/Qt282VYQxU pic.twitter.com/CRba7c3dS1
— The Persian Jewess (@persianjewess) January 12, 2026
The truck driver’s precise political convictions aren’t yet clear. The outside of the truck had signs written in both English and what is likely Farsi. One of the English ones read: “No Shah. No Regime. USA: Don’t Repeat 1953. No Mullah.” The “no regime” and “no mullah” elements of the banner seemingly indicate the driver was opposed to both the reinstallation of a monarch and the current regime.
The admonition against the USA repeating “1953” is clear. That’s the year that US and British intelligence engineered a coup d’etat that ousted Iran’s democratically-elected prime minister, Mohammad Mosaddegh, and restored Reza Pahlavi as the shah, a royal title meaning “king” in Farsi. Prompted by Mosaddegh’s nationalization of the company’s oil industry, “Operation Ajax” involved the use of CIA-funded Iranian agents and “rented” crowds of anti-government demonstrators. The shah’s reign — sustained with the repression of rights and sometimes-brutal treatment of dissidents — lasted until the 1979 Islamic revolution that ushered in the country’s current government.
Many in the Iranian diaspora are calling for the reimposition of an Iranian monarchy, led by the son of the late Shah Reza Pahlavi, a 65-year-old who shares the same name, and lives in a Maryland suburb of Washington DC. While there are reports of Iranian protesters chanting that “Pahlavi will return!”, it would be a mistake to assume that Iranians inside Iran support the reinstallation of a monarchy in the same proportion as do those living abroad. After all, the diaspora is heavily composed of people who fled Iran after the fall of the Shah, and their descendants.
Others in the diaspora, including Pahlavi himself, say that, rather than becoming a monarch, Pahlavi should serve as a transitional figure as the country uses elections to determine its future. Pahlavi is aggressively pursuing that role, pitching a 100-day transition plan, and receiving warm press from Deep State-allied outlets like the Wall Street Journal.
Another key player in the push for Iranian regime change is the Marxist-rooted Mujahedin-e Khalq, also known as the People’s Mujahedin Organization of Iran, but typically referred to as the MEK. Founded in the 1960s, often characterized as something of a cult, and designated by the US government as a terror organization until 2012, the MEK allied with Iraq during the Iran-Iraq war, and has been accused of serving as a conduit for phony intelligence about Iran’s nuclear technology created by Israel’s Mossad, and helping the Mossad assassinate Iranian scientists. Operating both inside and outside Iran, the MEK has infamously doled out hefty speaking fees to a parade of US political figures, including John Bolton and Rudy Giuliani.
Having participated in the revolution that dethroned the Shah, the MEK has long opposed a revived monarchy, instead favoring a secular democracy. Some social media users speculated or assumed the truck driver in Westwood was an MEK devotee:
As difficult as deposing the Iranian regime is
The inter-party fights like this Uhaul incident in LA are going to be challenging too.
This looks like it might be the MEK extremists based on the slogans on the van. pic.twitter.com/agFVykmxup
— Jim Hanson (@JimHansonDC) January 12, 2026
While they have their differences, the anti-monarchy MEK and opposing monarchy-nostalgic elements of the diaspora have one thing in common: deep pockets and influence that make them potent players in the info war being waged amid the intensifying push for regime change in Iran.
Speaking of potent players, check out the guy doing the Indiana Jones routine atop the lurching truck:
Went to a party on Veteran Ave, came out and there’s the Iran protest march right in front of the building. Caught on video this asshole ramming his Uhaul thru the protest. pic.twitter.com/wMKQMAc57k
— Susie Shoshana (@AuntSusie) January 11, 2026
Tyler Durden
Mon, 01/12/2026 – 06:55
DOT Strips California Of $160 Million Over Foreign Truckers
DOT Strips California Of $160 Million Over Foreign Truckers
By John Gallagher of FreightWaves
A showdown between the U.S. Department of Transportation and the State of California reached a breaking point on Wednesday after Transportation Secretary Sean Duffy announced the Federal Motor Carrier Safety Administration will withhold approximately $160 million in safety program money from the state.
The move follows California’s failure to meet a January 5 deadline to cancel more than 17,000 commercial truck driver’s licenses that Duffy asserts were unlawfully issued by the state to foreign truckers.
The California Department of Motor Vehicles announced in late December that it would delay the cancellation until March 6, but FMCSA did not agree to the extension.
“It’s reckoning day for [Governor] Gavin Newsom and California,” Duffy stated in a press release announcing a final determination letter that was sent to Newsom and the DMV.
“Our demands were simple: follow the rules, revoke the unlawfully-issued licenses to dangerous foreign drivers, and fix the system so this never happens again. Gavin Newsom has failed to do so – putting the needs of illegal immigrants over the safety of the American people.
“While Gavin may not care about protecting you and your family on our roads, the Trump Administration does. We’re pulling this funding to ensure federal tax dollars don’t fund this charade.”
A nationwide audit issued by FMCSA last summer of non-domiciled CDLs – which allow individuals who are not U.S. citizens or permanent residents to obtain commercial licenses – uncovered what government officials called a “systemic collapse” in California, where licenses were allegedly issued with expiration dates years beyond a driver’s lawful presence in the U.S.
FMCSA Administrator Derek Barrs emphasized that the agency would not compromise on the removal of these drivers from the road.
“Federal regulations are clear: states must correct safety deficiencies on a schedule mutually agreed upon by the agency, and California failed to meet its commitment,” Barrs stated. “We will not accept a corrective plan that knowingly leaves thousands of drivers holding noncompliant licenses behind the wheel of 80,000-pound trucks in open defiance of federal safety regulations.”
The $160 million penalty marks the first year of potential sanctions. Under federal law, if California continues to defy the FMCSA’s Final Determination, the amount withheld could double in the second year.
“We strongly disagree with the federal government’s decision to withhold vital transportation funding from California – their action jeopardizes public safety because these funds are critical for maintaining and improving the roadways we all rely on every day,” California DMV Public Affairs Deputy Director Eva Spiegel told FreightWaves in an email statement.
“The DMV is fully compliant with state and federal regulations and had engaged in positive conversations with FMCSA and DMV about extending the January 5 cancellation date to allow additional time for FMCSA to review the department’s commercial driver’s license program.”
The crackdown is expected to further tighten capacity in a West Coast freight market already grappling with shifts in regulatory policy. FreightWaves has previously reported on the potential for capacity crunches as thousands of drivers – many of whom have been integral to spot market operations – are forced out of service.
Todd Spencer, president of the Owner Operator Independent Drivers Association, said the crackdown on non-domiciled CDLs is overdue. “The days of exploiting cheap labor on the basis of false ‘driver shortage’ claims are over,” Spencer said in a press statement in response to DOT’s latest announcement.
“For too long, loopholes in this program have allowed unqualified drivers onto our highways, putting professional truckers and the motoring public at risk.”
Tyler Durden
Mon, 01/12/2026 – 06:30
https://www.zerohedge.com/political/dot-strips-california-160-million-over-foreign-truckers
Miles de enfermeras se declaran en huelga en varios hospitales importantes de Nueva York
Associated Press
NUEVA YORK (AP) — Miles de enfermeras en tres sistemas hospitalarios de la ciudad de Nueva York se declararon en huelga el lunes después de que las negociaciones durante el fin de semana no lograran avances en sus disputas contractuales.
Las enfermeras debían comenzar a abandonar sus puestos de trabajo a las 6 de la mañana en el Hospital Mount Sinai y dos de sus campus asociados. Los otros hospitales afectados son NewYork-Presbyterian y el Centro Médico Montefiore en el Bronx.
Según la Asociación de Enfermeras del Estado de Nueva York, alrededor de 15.000 enfermeras participan en la huelga.
La huelga, que ocurre durante una temporada de gripe severa, podría obligar a los hospitales a transferir pacientes, cancelar intervenciones o desviar ambulancias. También podría poner presión sobre los hospitales de la ciudad que no están involucrados en la disputa contractual, ya que los pacientes evitan los centros médicos afectados por la huelga.
Los hospitales involucrados han estado contratando enfermeras temporales para intentar cubrir la brecha laboral durante el paro, y dijeron en un comunicado durante las negociaciones que harían “lo que sea necesario para minimizar las interrupciones”. Montefiore publicó un mensaje asegurando a los pacientes que las citas se mantendrían.
El paro laboral ocurre en múltiples hospitales simultáneamente, pero cada centro médico está negociando con el sindicato de manera independiente. Varios otros hospitales en toda la ciudad y en sus suburbios llegaron a acuerdos en los últimos días para evitar una posible huelga.
Las demandas de las enfermeras varían según el hospital, pero los principales problemas incluyen los niveles de personal y la seguridad en el lugar de trabajo. El sindicato dice que los hospitales han dado a las enfermeras cargas de trabajo inasumibles.
Las enfermeras también quieren mejores medidas de seguridad en el lugar de trabajo, citando incidentes como uno de la semana pasada, cuando un hombre con un objeto afilado se atrincheró en una habitación de hospital en Brooklyn y luego fue abatido por la policía.
El sindicato también quiere límites en el uso de inteligencia artificial por parte de los hospitales.
Los hospitales sin fines de lucro involucrados en las negociaciones dicen que han estado trabajando para mejorar los niveles de personal, pero afirman que las demandas del sindicato en general son demasiado costosas.
Las enfermeras votaron para autorizar la huelga el mes pasado.
Tanto la gobernadora de Nueva York, Kathy Hochul, como el alcalde, Zohran Mamdani, habían expresado su preocupación por la posibilidad de la huelga. A medida que se acercaba el plazo de la huelga, Mamdani instó a ambas partes a seguir negociando y llegar a un acuerdo que “honre a nuestras enfermeras y mantenga nuestros hospitales abiertos”.
“Nuestras enfermeras mantuvieron viva a esta ciudad en sus momentos más difíciles. Su valor no es negociable”, dijo Mamdani.
La última gran huelga de enfermería en la ciudad fue hace solo tres años, en 2023. Ese paro laboral, en Mount Sinai y Montefiore, fue breve y duró tres días. Resultó en un acuerdo que aumentó el salario un 19% en tres años en esos hospitales.
También llevó a mejoras prometidas en el personal, aunque el sindicato y los hospitales ahora discrepan sobre cuánto progreso se ha logrado, o si los hospitales están retrocediendo en las garantías de personal.
___
Esta historia fue traducida del inglés por un editor de AP con la ayuda de una herramienta de inteligencia artificial generativa.
Scientists and advocates hail catch of smallmouth bass as sign of improved Cal-Sag Channel water quality
Mike Ress, an environmental research technician at the Metropolitan Water Reclamation District of Greater Chicago, said he was anxious at first to work in the Cal-Sag Channel, as his south suburban family told him to avoid the waterway growing up due to its reputation for poor water quality.
But Ress said through his work with the MWRD he has found the channel has become a wild, vibrant ecosystem with herons and beautiful fish species such as the pumpkinseed, which he and other MWRD scientists attribute to regulatory changes and new water treatment systems.
Most recently, Ress and his coworker, Mike Portala, who is also from the south suburbs, made history in finding the largest smallmouth bass in more than 51 years of MWRD fish monitoring on the Chicago Area Waterway System.
The fish weighed 3.9 pounds with a length of 19.7 inches and was returned to the waterway.
The duo found the fish in October on their last day of surveying for the season, which begins in June, and the find has been championed by MWRD officials as a significant positive indicator for water quality and ecosystem health.
“This is something I never really expected based on the hearsay I’ve been hearing my whole life,” Ress said. “It’s even kind of a good chance to bird a little bit, like it’s a very active ecosystem.”
Thomas Minarik, who has worked for the MWRD for 26 years and is now the principal environmental scientist, said it would have been a miracle to find any fish at all in the waterway 50 years ago, when the Cal-Sag really garnered a poor reputation.
The 16-mile long Cal-Sag Channel was part of the project to reverse the flow of the Calumet River out of Lake Michigan. Human waste was often dumped into the river and would flow freely into the lake, contaminating drinking water and causing fatal cholera outbreaks, officials said.
Minarik said back then there were not a lot of regulations, and people were “dumping anything and everything” into the waterway.
“To find any fish back then was a miracle, considering the water quality was very poor,” he said.
The 3.9-pound, 19.7 inch smallmouth bass that Metropolitan Water Reclamation District scientists caught Oct. 30, 2025, on the Cal-Sag Channel near Blue Island. (MWRD)
Now, he said scientists find growing numbers of fish and fish species in the Cal-Sag Channel.
He said that MWRD staff could only find 10 species in the entire Chicago Waterway System when they first started conducting fish surveys in 1974. Now, he said they have found 77 species, and there is a lot more diversity among the fish.
He also said catch rates have steadily increased, from an average of 22 fish per hour in the 1970s to 436 fish per hour in the 2010s at electrofishing sites on the channel.
He said game fish species such as the smallmouth bass are sensitive to pollutants, temperature changes and low dissolved oxygen levels. Their increasing presence suggests the water conditions can support the high energy demands needed for fish to grow large, he said.
The construction of the tunnel and reservoir system built in the 1970s in the Calumet area was a huge contributor to the decrease in sewer overflow incidents, he said.
“When you have a combined sewage overflow, that brings in a lot of pollutants and things into the system, and it consumes a lot dissolved oxygen and makes it a stressful environment for the fish,” Minarik said. “So by getting rid of that, we have a higher quality water environment for the fish, for them to thrive and live in.”
Compared to 50 years ago, he said, there are now water quality standards that have to be met, and businesses and facilities are required to attain a permit before they can release treated wastewater into public sewers or natural waters, he said.
He also said one of the biggest changes began when scientists started to realize how important it is to have a certain level of oxygen in waterways for fish and started implementing aeration stations in the 1990s.
The Calumet system has five of those systems, which pull water in from the canal and let it cascade through a series of waterfalls, increasing the oxygen in the water, he said.
The record-breaking fish was discovered near the sidestream elevated pool aeration station in Blue Island, according to MWRD. The station was built in the early 1990s to reduce odors, improve water quality and help fish populations.
An elevated pool aeration station at Fulton and Chatham streets in Blue Island was created to add oxygen to the Cal-Sag Channel. It’s operated by the Metropolitan Water Reclamation District of Greater Chicago and is the site of the annual Blessing of the Waters gathering. (Melinda Moore/Daily Southtown)
The station has also been a site where the community gathers every year to promote healthy water quality for an event called the Blessing of the Waters.
Tom Shepherd, one of the event’s founders, said the October bass finding means a lot environmentally, culturally and socially.
“Water is our life, it’s important as our blood that flows in our veins, and its also completely important to the wildlife, the deer, that come down to the waterfront and drink from it, and fish that birds will catch, and it’s just important for the whole chain of life that we experience,” Shepherd said.
He said the river also flows through a lot of Black history landmarks, such as the Robbins airport.
He said the Little Calumet River Underground Railroad Project plans to launch a kayaking club this spring that would feature Black history along the river.
Portala recommended readers check out upcoming virtual tours hosted by MWRD that begin Jan. 14, where attendees can travel back in time to early Chicago to see how the MWRD reversed the Chicago River and developed wastewater treatment technology.
awright@chicagotribune.com
https://www.chicagotribune.com/2026/01/12/smallmouth-bass-cal-sag-water-quality/
LyLena D. Estabine: Unions make life pricey in Illinois’ political machine
In Illinois, union labor comes first.
Every lawmaker knows you need unions on your side if you want to get something done, whether it’s transit or pensions. The cost of keeping union leaders happy grows each year.
And taxpayers shoulder the cost. Don’t believe it? Lawmakers have admitted it is true.
For almost a year, Springfield legislators argued over how they would fund Chicago-area transit, facing a $834 million budget gap by 2027. It wasn’t until Oct. 31, in the final days of this year’s veto session, that they finally managed to pass an omnibus reform package to cover the projected shortfall, and then some.
In addition to a reallocation of nearly $1 billion in gas tax revenues and a 0.25% increase in the sales tax, their final funding package included a hike on Illinois’ tollways amounting to 30% for commercial vehicles and 45 cents for everyone else.
The Illinois State Toll Highway Authority wasn’t seeking help and already had passed a balanced budget when state lawmakers decided they needed $1 billion more.
So why? Labor. Illinois House Speaker Emanuel “Chris” Welch described the tollway hike as the price to be paid for “labor support,” the Sun-Times reported.
Construction labor unions weren’t happy that nearly $1 billion from the transportation infrastructure fund, which state lawmakers raided for mass transit because it contained a $3.3 billion surplus, would be going to something they wouldn’t benefit from and didn’t have control over. So, they demanded more money be funneled in.
In 2027, tollway users will pay an extra $329 a year for cars and $1,264 for commercial trucks to finance this payoff. Illinoisans pay the highest combined state and local taxes in the nation. This is just the latest example of why.
Living in a political machine is expensive. And many of the costs can be traced back to labor union special interests.
Elected leaders rely on union dollars to fund their campaigns. As of 2023, 9 in 10 lawmakers received money from unions. Public sector unions specifically spend more in Illinois on state races than public sector unions in any other state.
It’s a political quid pro quo. Lawmakers need union approval to preserve good standing. Upsetting those supporters could mean losing vital campaign money, suddenly facing an opponent in a usually uncontested election or facing opposition in getting other legislation passed.
The tollway hike isn’t a temporary payday. It’s set to increase with inflation every year after it goes into effect. In return, it could add up to $1 billion per year for roadwork and jobs for laborers rather than the services taxpayers need, Illinois Policy analysis found.
This power — and its resulting costs to taxpayers — isn’t just held by construction unions. Government worker unions have pressured the state to continue hiking pension benefits to the detriment of both taxpayers and their own retirement security. Since 1996, Illinois residents have paid billions more in property taxes than what was initially projected, now paying the highest average property tax rate in the nation.
Just last month, Chicago residents saw their property tax bills rise a whopping 16% — the largest increase in 30 years. In some suburbs, the rates are even worse. Those increases frequently don’t go toward funding better city services; they go toward ever-growing pension obligations.
When tax bills get too high, people can’t afford them. Between 2014 and 2021, 2,000 people in Cook County lost their homes because they couldn’t keep up with property tax payments. In May 2022, 37,000 properties in the county were slated for delinquent tax sale.
These pressures are amplified for taxpayers within the Chicago Public Schools district. Despite enrollment dropping more than 20% in recent years, the Chicago Teachers Union has consistently demanded larger budgets. While taxpayers in the city struggle to keep up with an ever-larger list of the mayor’s expensive ideas, over 600 CPS employees took vacations to Las Vegas.
But the problems don’t stop at the CTU. This summer, some aldermen worked on passing an ordinance that would have allowed families to build granny flats in all residential areas of the city. But aldermen who opposed the initiative got the attention of local labor unions and attached their support to a more restrictive, labor-backed version of the ordinance — which ultimately passed.
As a result, in-law suites and attic apartments are only permitted in areas zoned for commercial and multifamily housing, unless otherwise allowed by a ward’s alderman. The labor requirements included in the ordinance also add unnecessary red tape and increase the costs of construction.
When special interest groups turn a city or a state into their own political machine, as they have done in Illinois, decisions are no longer made on what benefits the many. More resources go to fund what benefits the few. In the end, taxpayers are the ones who lose.
Until lawmakers are willing to put the taxpayers they represent ahead of the special interests funding their campaigns, the cost of living in Illinois will keep rising. And residents won’t have much — if anything — to show for it.
LyLena D. Estabine is a policy researcher at the Illinois Policy Institute and a contributor for Young Voices.
Submit a letter, of no more than 400 words, to the editor here or email letters@chicagotribune.com.
https://www.chicagotribune.com/2026/01/12/opinion-illinois-unions-increase-cost-of-living/
