The corporate media is LYING to you about legislation that could change how news is shared on social media. Plus, the family of the recently-arrested FTX founder is now under scrutiny for their roles in the business. Mike Papantonio & Farron Cousins discuss more.


*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Mike Papantonio: The corporate media is lying to you about legislation that could change how news is shared on social media. This is a big lie, isn’t it?

Farron Cousins: It is.

Mike Papantonio: Talk, talk, you’ve done a couple of stories on this. I love your take on it. Tell, tell us in your words, what is your take on how the media is again, hustling the American public?

Farron Cousins: Well, they, they’ve been pushing actually several different pieces of legislation. The big one, the official name of it, gotta find it, the Journalism Competition and Preservation Act.

Mike Papantonio: Right, right.

Farron Cousins: And we’ve talked about that plenty of times. But basically what it’s gonna do is allow these big news conglomerates who have already formed a consortium to go to the social media outlets and say, listen, you’re gonna share our stuff, but we’re gonna give you a good percentage of the profit. And that gives you more incentive to share our stuff instead of sharing independent media outlets who cannot afford what we can afford.

Mike Papantonio: They’re, they’re already doing it.

Farron Cousins: Yeah.

Mike Papantonio: Okay. When you watch this segment, then off to the side, and you look at the, what, what are the related segments? MSNBC, CNN, NBC, ABC, no independents. As a matter of fact, if we’re talking about a topic that has nothing to do with that little line of related stories, it doesn’t make any difference.

Farron Cousins: Right.

Mike Papantonio: It doesn’t, makes no difference. First of all, the media isn’t covering those kind of stories. Second of all, they don’t care. They’re gonna push MSNBC in front of the, right after you watch this, they’re gonna pop up MSNBC, they’re gonna pop up CNN. So it’s already happening. This makes it worse though, doesn’t it?

Farron Cousins: It, it really does. This gives social media companies an even greater financial incentive, not just on YouTube, Facebook, Twitter could also be affected, to push these stories. And it all comes back down to the money.

Mike Papantonio: Yeah.

Farron Cousins: The money is what’s driving this because these groups know whether it’s Sinclair Broadcasting, that’s a major player in the JCPA, whether it’s, you know, Gannett, all these other outlets, they banded together because they have the money to do it.

Mike Papantonio: Irony.

Farron Cousins: And nobody else can fight that.

Mike Papantonio: The irony is here, they’ve, they’ve destroyed corporate media. They’ve, they have completely destroyed corporate media. I mean, look, if you’re 20, 25, 30 years old, you don’t even watch news anymore. You go on social media. So they said, okay, we’ve destroyed television media. Let’s now move to social media and see if we can destroy that too. That’s kinda where it is. Farron, I didn’t quite understand. I read, did a quick, I did a quick read of the EARN IT Act. Did you, can you put that in terms of something simple to understand?

Farron Cousins: It’s a very complicated, complex thing where they’re trying to root out, you know, exploitive images of children.

Mike Papantonio: Right.

Farron Cousins: On the internet. But really what it is, is it’s allowing corporate media outlets to kind of have the reins on what can and cannot fly on social media.

Mike Papantonio: Mm-hmm.

Farron Cousins: So if they can come out there and say, oh, well listen, hey, you got this story floating around, this looks a little bad from an independent outlet.

Mike Papantonio: Mm-hmm.

Farron Cousins: They can effectively kill it and get it pulled off of these social media outlets. It’s putting the, the corporate media in the driver seat of basically, I don’t wanna call it censorship.

Mike Papantonio: It’s censorship.

Farron Cousins: Well, I guess it is censorship.

Mike Papantonio: It is censorship.

Farron Cousins: And so they get to be the driver’s of it.

Mike Papantonio: But they pick the issue. Say, oh, this is all about child pornography. No, it’s not.

Farron Cousins: Right.

Mike Papantonio: That’s the cover. And then after they get past the cover, then they really pull the trigger, which is, we’re not gonna let people say what we don’t want ’em to say, basically. Right?

Farron Cousins: Well, and it’s, you know, we run into that all the time because we’ve done a lot of videos on, on the human trafficking crisis.

Mike Papantonio: Yeah. Since I’m handling those cases all over the country. Right.

Farron Cousins: And now that I’ve mentioned that, there’s a good chance this video will get demonetized and shared less on YouTube because even mentioning it, the opioid crisis was another one.

Mike Papantonio: Yeah.

Farron Cousins: If you talk about that.

Mike Papantonio: That we.

Farron Cousins: They will punish you.

Mike Papantonio: That this law firm initiated, we started the opioid litigation right here in this law firm.

Farron Cousins: Exactly. Two major issues that we’re in the forefront on, and we can’t even talk about them.

Mike Papantonio: Our first three stories disappeared when we’re talking about McKesson and Cardinal and CVS and Walgreens and Walmart, and how they were murdering Americans and 150 Americans were dying a day. They made those stories disappear.

Farron Cousins: They did.

Mike Papantonio: Corporate media didn’t tell the story because all those people I just named, they’re advertisers.

Mike Papantonio: The family of the recently arrested FTX founder is now under scrutiny for their roles in the business. I don’t know that they get out of this without some real, real tough questions being asked. The parents in this situa, in this, in this case, I mean, Joseph Bankman. Okay. Joseph Bankman is a nationally renowned tax expert who, who’s a lawyer, teaches tax law at Stanford University. He was an employee of this business for 11 months. They’re paying daddy this money. Mommy, Barbara Fried is taking the money and she’s putting it into all of these Democrat, you know, money raise organizations. What is it, mind gap?

Farron Cousins: Mind the Gap.

Mike Papantonio: Mind the Gap was one of ’em. But there were many others.

Farron Cousins: Yeah.

Mike Papantonio: So she’s taken all this money that’s just rolling in from everywhere. Everybody’s saying, where the hell’s this money coming from? Moreover, what is this business? We don’t even understand the business. Everybody’s asking questions about it. Even the Fed, as dysfunctional as they are, they have enough sense to say, what is this thing, this being done here? We don’t even understand it. So mommy and daddy, I don’t know how they just walk away from this. They’ve lawyered up, by the way.

Farron Cousins: Yeah. Especially the dad in this case because like you said, he was a paid employee. He was going down to The Bahamas at least once, oftentimes twice a month, down to the company’s headquarters. He’s the one who got his son all the lawyers that he needed. It, it, it’s very difficult to convince me that he wasn’t aware of at least some of what was going on. I mean, you are the tax guy. You’re the legal guy, and all of this is happening under your nose that your own son is doing.

Mike Papantonio: Yeah.

Farron Cousins: And you have no idea. I, I find that hard to believe. So he, he needs good lawyers, obviously much better than what he is because the entire family, even the brother is linked to this. The brother’s getting money and he’s using it for his pandemic, you know, preparedness group.

Mike Papantonio: Okay.

Farron Cousins: It’s awful.

Mike Papantonio: Here, here’s what really, really bothers me about this. They’re, all the writing was on the wall. You remember the Lianbo Wang fraud? It was a huge fraud. Robert Brockman fraud. Now, the reason those frauds were ignored was because, and the Bernie Madoff fraud to some degree also the same kind of analysis, because all of this money was moving into a political entity. So even though all of the red lights were going off, even though the White House was being told by their own, their own staff, something’s wrong with this guy. Something’s wrong with what’s happening, but they’re taking the money just like it’s okay. And, and allowing it to happen. The regulators weren’t involved. Fortunately, you had one guy who had enough courage to say, whoa, whoa, whoa, whoa. I, you know, White House, you might put up with it. Feds, you might put up with it. I’m not gonna put up with it and goes after him.

Farron Cousins: Well, and, and he, Bankman-Fried, goes to Congress just a couple months ago.

Mike Papantonio: Yeah, yeah.

Farron Cousins: Swears to them, hey, no, everything’s great. We don’t need to regulate the crypto industry. Just let us keep doing what we’re doing. Of course, he’s paying tons of money for lobbyists.

Mike Papantonio: Yeah.

Farron Cousins: Giving tons of money to politicians. At the time, Democrats were in power, so that’s where all that money’s going. But he also, right before the election, I think when he saw, oh God, Republicans are gonna get it, writes a big ol’ check to Republicans because he’s really not a party guy. He just says, who do I need to pay off?

Mike Papantonio: Exactly. Mommy, daddy, who do I pay off? That’s kinda what happens here. But, okay. Has the money been returned?

Farron Cousins: Uh, not all of it.

Mike Papantonio: I’m not seeing it.

Farron Cousins: There’s far too many that are still sitting there on their FTX money.

Mike Papantonio: All, all I can do is tell mommy and daddy lawyer up if you haven’t already. And apparently there are, already are.

Mike Papantonio is an American attorney and television and radio talk show host. He is past president of The National Trial Lawyers, the most prestigious trial lawyer association in America; and is one of the few living attorneys inducted into the Trial Lawyer Hall of Fame. He hosts the international television show "America's Lawyer"; and co-hosts Ring of Fire Radio, a nationally syndicated weekly radio program, with Robert F. Kennedy, Jr. and Sam Seder.