Real Story Behind Russiagate Subpoenas, 50-Year Mortgage Backlash, Letitia Drama: AM Update 11/12

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Speaker 2 Good morning, everyone. I'm Megan Kelly.
It's Wednesday, November 12th, 2025, and this is your AM update.

Speaker 3 There's probably much more evidence that was never considered before.

Speaker 2 A slew of new subpoenas targeting high-ranking Obama administration officials, suggesting the investigation into the origins of the Russia collusion hoax could be heating up.

Speaker 3 It's renting, disguised as home ownership. You won't own your home until you're in your 80s.

Speaker 2 President Trump pitches a 50-year mortgage, and many in MAGA do not like it. Mr.

Speaker 2 Trump delivers remarks commemorating Veterans Day at Arlington National Cemetery and a wild new report on the shenanigans at New York Attorney General Letitia James's Virginia properties occupied by her troubled relatives.

Speaker 2 All that and more coming up in just a moment on your AM update.

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Speaker 2 Last week, a federal grand jury out of the Southern District of Florida reportedly subpoenaing former CIA Director John Brennan and former FBI officials Peter Strzok and Lisa Page.

Speaker 2 Fox News reporting as many as 30 subpoenas are expected to be issued to high-level officials in connection with the ongoing investigation into the origins of the so-called Russia collusion hoax.

Speaker 2 The New York Times reporting earlier this week, former director of national intelligence under President Obama, James Clapper, one of those subpoena.

Speaker 2 MSNBC reporting, quote, the subpoenas request documents, including emails and texts, related to the intelligence community assessment about Russian interference in the 2016 election.

Speaker 2 The relevant dates are between July 1st, 2016, and February 28th, 2017.

Speaker 2 That timeframe, including the last six months of the Obama administration, into the early months of Trump 1.0, covering the period of time in which outgoing President Obama reportedly ordered the intelligence community to compose a new Intelligence Community Assessment, or ICA, on Russian interference in the 2016 election.

Speaker 2 Director of National Intelligence Tulsi Gabbard and CIA Director John Ratcliffe making documents public over the summer showing that ICA did not adhere to intelligence community standards in its determination that Russia, quote, aspired to help Mr.

Speaker 2 Trump's chances of victory.

Speaker 2 For example, a declassified House Intel Committee report found that CIA Director Brennan, under Obama, overruled two senior CIA officers who objected to any reference to the now discredited Clinton-funded steel dossier in the ICA.

Speaker 2 When confronted about the steel dossier's many flaws, Brennan said, yes, but doesn't it ring true, according to the report?

Speaker 2 The New York Post reporting, quote, the people targeted by the subpoenas are seen as part of the conspiracy that peddled claims President Trump's campaign colluded with the Russian government ahead of the 2016 election.

Speaker 2 We spoke with lawyer and founder of the Article III project, Mike Davis, on the significance of these subpoenas and what could be coming next.

Speaker 4 I have pushed very publicly for over three years for that Fort Pierce grand jury to investigate all of this criminal misconduct by Obama, Biden, Hillary,

Speaker 4 the Attorney General, Comey, Brennan Clapper, Weissman, Jay Bratt, Jack Smith, Fannie Willis, Tish James, all of these lawfare Democrats who politicized and weaponized law enforcement and intel agencies to go after Trump, his top aides, his allies, his supporters.

Speaker 2 Davis, a good friend of U.S.

Speaker 2 Attorney Jason Redding Kinones for the Southern District of Florida, who is overseeing the probe, on what the reported scope of the subpoenas indicates about the investigation.

Speaker 4 If MSNBC's reporting is accurate, that would indicate that these initial subpoenas are looking at the Russian collusion hoax at the end of the Obama administration, at the end of the beginning of the Trump administration.

Speaker 4 And so I think that's going to be a piece of this investigation, but I think this investigation should be much broader than that. And I anticipate that it will be much broader than that.

Speaker 4 I think it's going to cover this ongoing criminal conspiracy over the last eight years.

Speaker 2 As far as the possible crimes the targets of the investigation may have committed, Davis pointing to 18 USC Section 241, Conspiracy Against Rights.

Speaker 4 Congress, and that's it. The federal criminal statute of conspiracy against rights through the Civil War to take down the Klan.

Speaker 4 When people conspire to violate the constitutional rights of Americans, they are committing a very serious federal civil rights felony.

Speaker 4 The advantage to conspiracy against rights is it is a very broad statute, and there is an ongoing criminal conspiracy, meaning the federal statute of limitations of five years that generally applies to almost all federal crimes

Speaker 4 would not save these lawfare Democrats because the conspiracy is ongoing. Covering up a conspiracy continues the conspiracy.

Speaker 4 The conspiracy has not ended because they're actively trying to cover it up. They're lying about it.
They're obstructing the investigations.

Speaker 2 The statute of limitations on criminal conspiracy expires after five years, and the reported scope of the subpoenas falls well outside of that limit.

Speaker 2 Davis explaining here why he believes Kunones has room to maneuver.

Speaker 4 The statute of limitations does not begin to toll until the conspiracy has ended. You have to disavow the conspiracy to end the conspiracy.

Speaker 4 And then you have five years from when the conspiracy ends to bring these federal charges for conspiracy against rights. But when you cover up a conspiracy, you continue the conspiracy.

Speaker 4 Every person who politicized and weaponized intel agencies and law enforcement to take out their political enemies for non-crimes could be subjected to this criminal conspiracy against rice investigation that apparently is being led out of the Southern District of Florida.

Speaker 2 Critics of these subpoenas say RussiaGate has already been investigated twice, once by special counsel John Durham and once by DOJ Inspector General Michael Horowitz.

Speaker 2 No high-ranking officials charged in the aftermath of either probe. We asked Davis about that.

Speaker 4 Number one, I would say to these lawfare Democrats, if there's nothing here they have nothing to worry about number two i would say to these lawfare democrats cash patel and dan bongino working with senator chuck grassley just found very damning records and burn bags in a skiff at the fbi so they just discovered that new evidence that was never considered considered before and there's probably much more evidence that was never considered before these investigations in the past were not taken seriously enough and that's obvious by the fact that they found these records and burn bags that are so damning time will tell

Speaker 2 coming up president trump delivering remarks commemorating veterans day at arlington national cemetery and a scandalous report about repeated police activity at two homes owned by new york attorney general no one is above the law tish james

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Speaker 2 President Trump, igniting a new debate relating to the housing crisis, posting a graphic to Truth Social Saturday headlined, quote, Great American Presidents, featuring an image of FDR with the caption 30-year mortgage and an image of President Trump captioned 50-year mortgage.

Speaker 2 The idea facing swift backlash from the MAGA base. The recently released National Association of Realtors 2025 profile revealing a startling statistic.

Speaker 2 For the first time, the median age for the first-time homebuyer is 40. In 2010, the median age was 30.
The U.S.

Speaker 2 Chamber of Commerce reporting a shortage of more than 4.7 million homes, contributing to skyrocketing prices.

Speaker 2 Executive director of the Ron Paul Institute for Peace and Prosperity, Daniel McAdams, dedicated to free market principles, describing the dire reality of these stats on the Ron Paul Liberty Report podcast.

Speaker 6 40 years old is the average age. How devastating that is for families.
Say a woman wants to settle down and get married. The man can't buy a house until he's 40.

Speaker 6 She's already 40 years old when she's starting a family. You know, it's just absolutely terrible.

Speaker 2 The man behind President Trump's 50-year mortgage pitch, the nation's top housing finance regulator, Bill Pulte.

Speaker 2 Pulte reportedly floating the idea as a means of making home buying more accessible for Americans amid an affordability crisis.

Speaker 2 Political reporting, White House officials are furious with Pulte for bypassing official channels and pitching the unvetted idea directly to President Trump, who reportedly posted the graphic to Truth Social just minutes after their Mar-a-Lago conversation.

Speaker 2 Mr. Trump pushed on Fox about the proposal, shrugging off the criticism.
Is that really a good idea?

Speaker 7 It's not even a big deal. I mean, you know, you go from 40 to 50 years, and what it means is

Speaker 7 you pay something less. From 30, some people had a 40, and then now they have a 50.
All it means is you pay less per month, you pay it over a longer period of time. It's not like a big factor.

Speaker 7 It might help a little bit. But the problem was that Biden did this.
He increased the interest rates, and I have a lousy Fed person who's going to be gone in a few months.

Speaker 2 Fox host Charles Payne on Monday breaking down the math and why he believes a 50-year mortgage is not the solution to an affordability crisis.

Speaker 5 I do not like this idea.

Speaker 5 And again, it depends on how much the house costs and what, but if you just took a 4% interest rate,

Speaker 5 for a 30-year.

Speaker 5 For a 50-year, it would be $1,900. So you're saving almost $500 a month in terms of affordability.

Speaker 5 But by the time you finish paying this bad boy off, the 30-year, you pay $359,000 versus a 50-year, almost $700,000, right? So it's just a gargantuan difference just to make people feel better.

Speaker 2 The administration has not announced an official policy for now.

Speaker 2 President Trump yesterday, flanked by Vice President and Iraq War veteran J.D.

Speaker 2 Vance and Veterans Affairs Secretary Doug Collins, laying a wreath at the tomb of the unknown soldier in Arlington National Cemetery in honor of Veterans Day.

Speaker 2 President Trump thanking the nation's veterans.

Speaker 8 This morning on these hallowed grounds where generations of American heroes rest in eternal glory. We gather to fulfill the sacred duty of every free man and woman.

Speaker 8 On Veterans Day, we honor those who have worn the uniform, who have borne the battle, who have stood to watch and whose ranks have formed the mighty wall of flesh and blood, bravery, and devotion that has defended our freedom for 250 years.

Speaker 8 Today, to every veteran, we love our veterans, we say the words too often left unsaid, thank you for your service. Thank you very much.

Speaker 2 The President also making this proclamation.

Speaker 8 As you know, today is not only Veterans Day, but it's my proclamation that we are now going to be saying and calling Victory Day for World War I.

Speaker 8 I was recently at an event and I saw France was celebrating Victory Day, but we didn't. And I saw France was celebrating another Victory Day for World War II,

Speaker 8 and other countries were celebrating. They were all celebrated.
We're the one that won the wars. And I said, from now on, we're going to say Victory Day for World War I and World War II.

Speaker 8 And we could do for plenty of other wars, but we'll start with those two.

Speaker 2 The president has previously floated the idea of renaming Veterans Day Victory Day, but the change has not yet been made official.

Speaker 2 More drama on New York Attorney General Letitia James's home front.

Speaker 2 The New York Post exclusively reporting on a flurry of police activity at two homes in Norfolk, Virginia, owned by James, who famously often repeats that no one is above the law.

Speaker 2 James allegedly purchased the homes in 2020 and 2023.

Speaker 2 In October, a federal grand jury indicting James on charges of bank fraud and false statements to a financial institution relating to the home purchased in 2020.

Speaker 2 The DOJ alleging James illegally obtained favorable mortgage terms by representing that it would be her second residence used for her own personal use and enjoyment when she instead used it as an investment property and let family live there.

Speaker 2 James denies any wrongdoing. The Post reporting that James's own behavior, not the only alleged crime committed by those who own or occupy the James residences in Virginia.

Speaker 2 Reporting that James's criminally troubled grandniece, 36-year-old Nakia Thompson, moved into one of the homes with her children soon after closing in August 2020.

Speaker 2 The cops reportedly called to that residence 12 times, including several occasions in which they were called multiple times in one day. Sure, that's normal.

Speaker 2 According to the Post, quote, cops went out to the house for issuing warrants and subpoenas, as well as for incidents labeled vandalism, domestic issues, and for suspicious persons.

Speaker 2 Of the dozen total calls, three placed in 2020, one each from 2021 to 2023, and six in the first two weeks of October of this year, coinciding with news breaking about the property.

Speaker 2 And it doesn't end there.

Speaker 2 The Post reports that Thompson is a fugitive from authorities in North Carolina for failing to finish probation related to charges including malicious conduct by a prisoner, assault of a government official, and resisting a public officer.

Speaker 2 While many fugitives attempt to lay low, the paper reporting numerous run-ins with the law in Virginia, including when Thompson, quote, allegedly threatened to punch her child's assistant principal after calling her a bald-headed bitch.

Speaker 2 James's other Virginia home, purchased in 2023, occupied by James's niece and her two children, also the site of repeated police activity.

Speaker 2 The post reporting cops showing up nine times between April and October 2024 and once in April of this year.

Speaker 2 Grandniece Kayla Thompson Hairston, a resident at this property and a reported OnlyFans model, charged in April 2024 with lying about her criminal record when she tried to purchase a gun in Suffolk, Virginia.

Speaker 2 According to the Post, in August of 2020, Kayla was charged with, quote, malicious wounding, defined as shooting, stabbing, cutting, or wounding another person with intent to maim, disfigure, disable, or kill.

Speaker 2 Meanwhile, her great aunt, Tish James, was in New York, boasting about her, quote, sworn duty to protect and uphold state law, end quote, promising to, quote, follow the facts of any case wherever they lead.

Speaker 2 These facts would have led her right to her own property and the presidence of a fugitive and an OnlyFans model who can't seem to keep the cops off of James's doorstep. Are they above the law, Tish?

Speaker 2 And that'll do it for your AM update. I'm Megan Kelly.

Speaker 2 Join me back here for the Megan Kelly Show, live on Series XM's The Megan Kelly Channel, 111 at Noon East, on youtube.com/slash Megan MeganKelly, and on all podcast platforms.

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