There is more to the Jensen Huang scandal than an affair. Today The Washington Post reported that Marco Rubio personally oversaw the classified memo that warned Trump about Huang, and recast the CIA’s findings “in his own more assertive terms.” A former official told the Post that Huang’s opponents wanted to destroy the influence he had over the president. That is a national security alarm, sounded from inside the State Department. Rubio went to Trump to take back control of chip sales to China that had come untethered. Lutnick got the memo too, Axios reported. Days after Rubio briefed Trump on Air Force One in May, Lutnick’s Commerce Department cleared about 10 Chinese companies to buy Nvidia’s chips, Reuters reported. On Friday Scott Bessent blamed Lutnick. Rubio is the latest to point the finger at Commerce, and past it at the president. God bless Marco Rubio. We don’t like the technique.

Voters gave this administration and its allies clear notice on Nov. 3. Now the regime is doing what they all do in the dying days of a corrupt system. They turn on each other. They blame each other. They try to take each other out so they can last one more minute. It’s a game of Survivor, and nobody wants to be the first one voted off the island.

The gravy train has stopped paying out. The first two off it were Paolo Zampolli, fired as Trump’s envoy on Oct. 16, and Susie Wiles, who resigned as chief of staff this month. Pam Bondi was pushed out in April after her handling of the Epstein files. Kristi Noem went in March, after immigration agents shot two protesters dead in Minneapolis. They were all subjects of our investigations before their departures.

But Howard Lutnick has been different. We’ve had multiple reports and breathtaking revelations, but somehow the Teflon commerce secretary has kept his job. Things are about to change for Mr. Lutnick. Or will they?

HOWARD LUTNICK: WE TOLD YOU IN FEBRUARY

Scott Bessent went on CNBC Friday and put the Nvidia scandal on Howard Lutnick’s desk. Treasury, the War Department, State and the trade representative wanted Megaspeed blacklisted “for months,” the Treasury secretary said, “but Commerce has the pen.” Megaspeed, of Singapore, bought more than $4.8 billion of Nvidia chips in two years. Lutnick runs Commerce. Commerce has blacklisted no company since October 2025, CBS News reported. The White House says Trump “maintains complete confidence” in him; Reuters reported senior officials discussed pushing him out. Lutnick testifies to the Senate Banking Committee on Dec. 10.

Monday’s filing finished the picture. BGC Group, the brokerage Lutnick’s family controls, owns a third of a Beijing venture with a Chinese state company. Lutnick’s family has money in China. Trump’s accounts had money in Nvidia. If Lutnick falls, he takes the fall for the president.

None of it surprised our readers. Here is how we got here:

February 17: Epstein sold Lutnick a mansion for $10, and the FBI knew. A former Cantor Fitzgerald executive told federal agents Lutnick “instructed all of the fraud.” The FBI did nothing.

March 24: The Bomb. The FBI’s own activity log carried a line it never meant to publish: “Alleged Money Laundering by Howard Lutnick via BGC Financial and Cantor Fitzgerald.”

March 25: Tether owns the Lutnick empire. Cantor holds Tether’s reserves, and Tether lent the Lutnick children the money to buy the firm when their father went into government.

May 14: Eight times our reporting disproved Lutnick’s own transcript.

November 12: The Nvidia scandal ties Lutnick to Beijing.

Teflon wears off. A commerce secretary fired before Dec. 10 has no reason left to protect Trump.

Bessent Blames Lutnick for Chip Sales Trump Allowed

Bessent said four departments wanted Megaspeed blacklisted “for months.” Trump knew about the suspected spy a year ago, and the Lutnick family’s brokerage is in business with a Chinese state company.

The brokerage Howard Lutnick’s family controls owns a third of a Beijing venture with a Chinese state company. BGC Group told the SEC so on Monday, four days before the Treasury secretary put the Nvidia scandal on Lutnick’s desk.

Scott Bessent told CNBC on Friday that Treasury, the War Department, the trade representative and State “were in favor of putting Megaspeed on the Entity List for months, but Commerce has the pen.” Megaspeed, of Singapore, bought more than $4.8 billion of Nvidia chips in two years, CNBC reported. Lutnick runs Commerce. He has agreed to testify before the Senate Banking Committee on Dec. 10.

If Lutnick falls, he will be taking the fall for Donald Trump. Trump knows a lot more than he is saying.

TRUMP WAS TOLD TWICE ABOUT NVIDIA’S SPY. HIS ACCOUNTS KEPT TRADING.

Officials told Trump in October 2025 that Alice Huang, a suspected Chinese agent, was close to Nvidia chief Jensen Huang. Marco Rubio warned him again on Air Force One in May, on the way to Beijing, The New York Times reported. Trump’s own ethics filings, which we read line by line, show his accounts traded Nvidia nine times in April and May: six before Rubio’s warning, three after. One purchase came the day after Commerce cleared about 10 Chinese companies to buy Nvidia’s chips. The White House says independent managers pick the stocks.

Nvidia gave Trump’s ballroom $25 million. On Tuesday Trump phoned Huang and told him to keep fighting for his job, the Times reported. Huang resigned Thursday. The same day, Acting Attorney General Todd Blanche said DOJ had reached “no conclusions” about who the woman is, and Trump said he didn’t know if she was a spy. Intelligence agencies concluded she was recruited by China’s Ministry of State Security, the Times reported. House chairs want Huang in a closed-door interview Dec. 1. Trump is expected in China next week.

EXCLUSIVE: Trump’s Accounts Traded Nvidia After Both Spy Warnings

ZEV SHALEV

NOV 11

HEGSETH’S NO-SHOWS: 15 OF 18 TOOK AIPAC MONEY

The House voted 211 to 204 on Tuesday to send Thomas Massie’s impeachment articles against Pete Hegseth to committee. Eighteen members did not vote. We ran their federal filings: 15 of the 18 took AIPAC money, nine of the 11 Democrats among them. Had those 11 Democrats voted no, the motion fails 211 to 215 and Hegseth’s impeachment goes to the floor. Haley Stevens missed every vote that evening. AIPAC’s super PAC spent $10.5 million on her Michigan Senate run; she lost the primary to Abdul El-Sayed and then endorsed the Republican. Three members blamed a motorcade traffic jam. Pete Hegseth had called the impeachment “sabotage” hours before. AIPAC’s PAC gives to about 300 House candidates a cycle, and nothing we found shows it asked anyone to stay away. The money was there. The votes were not.

On Oct. 31 we told you Gadi Eisenkot would govern the way Rabin did, with the Arab parties backing him from outside. This week 67 members recommended Eisenkot, 19 of them from the Arab parties, and his bloc took the Knesset’s defense and finance committees before he has a government. AIPAC congratulated Chuck Schumer and Hakeem Jeffries by name, the two Democrats in line to hold Trump to account for the Iran war. Pro-Israel PACs and donors gave each of them more than $1.7 million through 2024.

EXCLUSIVE: New Israel Takes Power, Quiet on AIPAC

ZEV SHALEV

NOV 11

FIVESTACK: THE BEST WEEK SINCE LAUNCH

FiveStack had its biggest audience since we launched it. They are all great this week so listen to them all or we’ll randomly select Monday’s episode when Lev Parnas and Anne P. Mitchell joined Zev while Massie read the Hegseth articles on the House floor. Trump sold a softer self on 60 Minutes and kept the hate. Jensen Huang admitted the affair and Trump called him “an honorable guy.” The Katie Wiles tapes reached Congress. Parnas said four to six Republicans were ready to break with Trump on Hegseth. He also reported that Jared Kushner, Kirill Dmitriev and Steve Witkoff were writing a peace plan with security guarantees for Russia, not Ukraine. By Friday Kushner had sat with Putin in the Kremlin and briefed Zelensky on an Irish military airfield.

THE WILES TAPES

Susie Wiles resigned as chief of staff and left a file behind. Republika Srpska, Milorad Dodik’s Bosnian Serb entity, pays Continental Strategy $35,000 a month. Katie Wiles, her daughter, is a partner there. On tape she tells colleagues to clear a draft’s metadata “because somebody will look for who made the edit.” U.S. sources say the draft was Dodik’s victory speech. Robert Garcia, who takes the Oversight gavel in January, says he’s already looking. Her old firm, Ballard Partners, reported about $17.6 million a year for eight years. Then she became chief of staff, and Ballard reported $88 million.

EPSTEIN’S BANKS

Epstein died Aug. 10, 2019. Three days later JPMorgan reported 469 of his wires, worth $201 million, as suspicious, including payments to women in Russia through banks now under sanctions. Ron Wyden takes the Senate Finance gavel in January, and with it subpoena power. His report names three banks. The Epstein files name at least five more, from Vienna to Moscow to Tel Aviv.

EXCLUSIVE: JPMorgan Reported 469 Epstein Wires After He Died

ZEV SHALEV

NOV 10

That’s The Weekly. Scott Colom won Mississippi’s Senate seat and claimed it at Tougaloo College, 145 years after the state’s last Black senator left office. Back Tomorrow!

PS: Huang sits for Congress Dec. 1. Lutnick testifies Dec. 10. If he’s still in the job.