U.S. Markets closed

Rosenstein's fate could turn on which account Trump believes

1 / 4
FILE - In this July 13, 2018, file photo, Deputy Attorney General Rod Rosenstein speaks during a news conference at the Department of Justice in Washington. Rosenstein is denying a report in The New York Times that he suggested last year that he secretly record President Donald Trump in the White House to expose the chaos in the administration. Rosenstein says the story is “inaccurate and factually incorrect.” (AP Photo/Evan Vucci, File)

WASHINGTON (AP) — The fate of Deputy Attorney General Rod Rosenstein could turn on whether President Donald Trump believes the account of an ex-FBI official who, as Trump once asserted in a tweet, had "LIED! LIED! LIED!"

Rosenstein discussed secretly recording Trump, though one person who was present at the time said Rosenstein was just being sarcastic, and reportedly suggested removing the commander in chief from office. Rosenstein issued a swift denial to both claims.

The revelation that the second-ranking Justice Department official had even broached those ideas has created even more uncertainty for him at a time when Trump has railed against law enforcement leadership he has perceived as biased against him.

The president, at a Missouri rally Friday night, said there was a "lingering stench" at the Justice Department that "we're going to get rid of." He didn't name names.

A key witness in the episode is Andrew McCabe, who was temporarily elevated to FBI director after Trump fired James Comey. McCabe documented conversations with senior officials, including Trump and Rosenstein, in memos that have been provided to special counsel Robert Mueller as part of the Trump-Russia investigation.

The discussion about possibly recording Trump occurred during a meeting with McCabe in May 2017 following Comey's firing. Comey's dismissal infuriated many rank-and-file agents, but the White House has said that decision was made on the Justice Department's recommendation.

A memo from McCabe also describes Rosenstein as having discussed the potential removal of the president under the Constitution.

While Trump has publicly scorned Rosenstein, the president has been every bit as harsh toward McCabe, who was fired in March amid a watchdog investigation that concluded he repeatedly lied about his involvement in a news media disclosure.

Trump once called McCabe's firing a "great day for democracy" and asserted without elaboration that McCabe knew all "about the lies and corruption going on at the highest levels of the FBI." The inspector general's findings have been referred to prosecutors for possible criminal charges.

Friday's news reports raised the prospect that Trump could fire Rosenstein. Any dismissal could affect Mueller's investigation into possible coordination between Russia and Trump's presidential campaign. Rosenstein appointed Mueller and oversees his work.

Trump said at the Missouri rally that the Justice Department has some "great people" but also "some real bad ones." He said the "bad ones" were gone, "but there's a lingering stench and we're going to get rid of that, too." It was unclear to whom he was referring, and the White House did not respond to questions about Rosenstein's remarks.

Rosenstein's comments were first reported by The New York Times, which also said he raised the idea of using the 25th Amendment to remove Trump as unfit for office. Rosenstein denied it.

"I never pursued or authorized recording the President and any suggestion that I have ever advocated for the removal of the President is absolutely false," he said in a statement.

The differing accounts of the conversation underscore the conflicts that roiled the FBI and Justice Department early in the Trump administration. Rosenstein, just weeks into his job, wrote a memo critical of Comey's handling of the Hillary Clinton email server investigation that the White House used as justification for firing Comey.

Rosenstein distanced himself from the White House soon after Comey's firing by saying his memo "was not a statement of reasons" for firing Comey. Comey, meanwhile, has criticized Rosenstein's role in the firing but has said Rosenstein has acted honorably since then.

Comey and McCabe, once close associates at the FBI, have provided wildly divergent accounts about who knew what when regarding a 2016 Wall Street Journal story on an FBI investigation into the Clinton Foundation.

McCabe says he told Comey that he had authorized FBI officials to share information with a reporter in order to push back against a story McCabe felt was going to be unfair to the bureau and inaccurate. Comey has said McCabe did not acknowledge having done so and left the impression that he didn't know who had shared the information with the journalist.

The inspector general's office has accepted Comey's account over McCabe's in concluding that McCabe repeatedly lied to internal investigators under oath. McCabe denies that.

The Justice Department on Friday distributed a list of instances in which the inspector general said McCabe had made false statements in the past. The department also released an email from one attendee who said Rosenstein's "statement was sarcastic and was never discussed with any intention of recording a conversation with the president."

One of the people briefed on the conversation in question, who spoke on condition of anonymity because of the confidential nature of the interaction, said it occurred during a moment of frustration between McCabe and Rosenstein.

Rosenstein was rankled by the revelation that Comey had kept memos about his interactions with the president, and McCabe wanted a more aggressive approach toward the White House, the person said.

At that point, Rosenstein said to McCabe something to the effect of, "What do you want, you want me to wear a wire?" according to the person. Rosenstein was asked in the meeting if he was serious, and he said yes, but he did not mean for the wire comment to be taken seriously as a tactic to investigate Trump, the person said.

The person also said that a memo from McCabe describes Rosenstein as referencing the 25th Amendment to the Constitution, which says that a president can be declared "unable to discharge the powers and duties of his office" upon a majority vote of the vice president and the Cabinet.

The person said a different memo about that day from another FBI official, Lisa Page, does not include the 25th Amendment reference. But another person with knowledge of the interactions, who also insisted on anonymity to discuss private conversations, said there were multiple meetings that day and that Page's notes are about a different meeting, which explains why her notes don't line up with McCabe's.

McCabe's lawyer, Michael Bromwich, said in a statement that McCabe had drafted memos to "memorialize significant discussions he had with high level officials and preserved them so he would have an accurate, contemporaneous record of those discussions." He did not address the content of the memos.


Associated Press writer Jonathan Lemire in Springfield, Missouri, contributed to this report.

  • Galaxy Fold: What is the point of Samsung's new foldable phone?
    The Independent

    Galaxy Fold: What is the point of Samsung's new foldable phone?

    After many rumours and leaks, Samsung has finally revealed its groundbreaking folding phone. It's certainly an exciting innovation but, really, what is the benefit and what will it be used for – Oh, and how can Samsung get away with charging $1,980 or €2,000 for it? The Galaxy Fold was the opening gambit at Samsung's San Francisco keynote event, where it also revealed three versions, no, four, of the Samsung Galaxy S10, a new fitness tracker and a smartwatch with a sports angle.

  • Business
    Associated Press

    Reliance Steel: 4Q Earnings Snapshot

    The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share. The metals service-center company posted revenue of $2.81 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $2.77 billion.

  • Business
    Thomson Reuters StreetEvents

    Edited Transcript of AIF.TO earnings conference call or presentation 21-Feb-19 10:00pm GMT

    Altus Group Limited - CEO & Director Conference Call Participants * Daniel Chan

  • Here's Why Karyopharm Therapeutics Is Getting Hammered Today
    Motley Fool

    Here's Why Karyopharm Therapeutics Is Getting Hammered Today

    Shares of Karyopharm Therapeutics (NASDAQ: KPTI), a precommercial biopharmaceutical company, are plummeting in response to briefing documents released by the Food and Drug Administration ahead of an advisory committee meeting. Karyopharm Therapeutics convinced the FDA to grant a priority review for selinexor, but the agency insisted on an advisory committee meeting to discuss the application with independent experts in a public setting first. During the 123-patient Storm study, 25.4% of patients showed a response to treatment with selinexor plus chemo, which isn't a whole lot better than you'd expect from this group when treated with the same dose of chemo on its own.

  • Berkshire Hathaway rumored to be selling San Francisco unit
    American City Business Journals

    Berkshire Hathaway rumored to be selling San Francisco unit

    Warren Buffett's Berkshire Hathaway is considering a rare sale from its vast operations, looking to unload San Francisco-based Applied Underwriters, Reuters reported Friday, citing unnamed sources. Applied Underwriters falls outside of Berkshire's concentration on insurance, making it a non-core asset that focuses on bundling workers compensation and other employment-related insurance products for small and mid-sized businesses, sources told Reuters. Berkshire (NYSE: BRK.A) (NYSE: BRK.B) is said to be in talks with a consortium of insurance companies to buy Applied Underwriters for a price that comes close to the value of its book of business, Reuters said, adding that the deal is in an advanced-stage of negotiations but could still fall through.  A deal could be announced as soon as Saturday, when Berkshire releases quarterly earnings as well as Buffett's widely followed letter to shareholders.

  • When Should You Buy Daktronics, Inc. (NASDAQ:DAKT)?
    Simply Wall St.

    When Should You Buy Daktronics, Inc. (NASDAQ:DAKT)?

    Daktronics, Inc. (NASDAQ:DAKT), which is in the electronic business, and is based in United States, saw a decent share price growth in the teens level on the NASDAQGS over the last few months. Let's take a look at Daktronics's outlook and value based on the most recent financial data to see if the opportunity still exists. Daktronics appears to be overvalued according to my relative valuation model.

  • Why iQIYI's Stock Jumped 23% Higher Today
    Motley Fool

    Why iQIYI's Stock Jumped 23% Higher Today

    Your average analyst would have settled for a net loss of $0.71 per share on sales near $983 million. Looking ahead, management expects first-quarter revenue to land near $995 million. Here, the current analyst view stops at $973 million.

  • 'Father of Reaganomics' says 'get out of the market' — bond and stock market — 'and put your money in cash'

    'Father of Reaganomics' says 'get out of the market' — bond and stock market — 'and put your money in cash'

    The Dow Jones Industrial Average (DJIA)is up 19.4% since that time, breaking above a psychologically significant at 26,000 level on Friday, while the S&P 500 index (SPX) has advanced 19.5%, the Nasdaq Composite Index (COMP) has risen 22.4% and the small-capitalization focused Russell 2000 index has returned more than 25%, according to FactSet data. Much of that gain has been underpinned by a Fed that has signaled that it is likely to slow a reduction of its $4 trillion balance sheet as soon as this year and a willingness to wait before increasing borrowing costs further. Both of those plans had been cited as a source of friction for markets.

  • Call of the day: Berkshire Hathaway profit expectation slashed after Kraft Heinz stock crash
    Yahoo Finance Video

    Call of the day: Berkshire Hathaway profit expectation slashed after Kraft Heinz stock crash

    Berkshire Hathaway profit expectation was slashed following Kraft Heinz stock crash. Yahoo Finance's Jen Rogers, Myles Udland and Julia La Roche discuss in the call of the day.

  • This Top Marijuana Stock Will Head to the NYSE Next Week
    Motley Fool

    This Top Marijuana Stock Will Head to the NYSE Next Week

    The marijuana industry is transforming rapidly before our eyes. To our north, Canada became the first industrialized country to legalize recreational pot in October, while to our south, Mexico gave the green light to medical marijuana in June 2017 (and is strongly considering adult-use legalization this year). Meanwhile, in the U.S., two-thirds of all states have legalized medical cannabis, with 10 of these states also allowing adult consumption.

  • Why BioTelemetry Stock Plunged Today
    Motley Fool

    Why BioTelemetry Stock Plunged Today

    So what Revenue in the fourth quarter was $103.6 million, which translated into non-GAAP net income of $20.1 million, or $0.56 per share. Analysts had been modeling for $103 million in sales and an adjusted profit of $0.42 per share. On a GAAP basis, net income was $10.4 million, or $0.29 per share.

  • Intel Upgraded, Broadcom Downgraded As Analysts Rethink Chip Stocks
    Investor's Business Daily

    Intel Upgraded, Broadcom Downgraded As Analysts Rethink Chip Stocks

    Chipmaker Intel (INTC) received a stock rating upgrade on Friday, while industry peer Broadcom (AVGO) got a downgrade. Intel stock gapped up on the news, while Broadcom stock sank. ibd-display-video id="4272916" width="50" float="left" top="false" /] Morgan Stanley upgraded Intel stock to overweight from equal weight.

  • Ground-breaking electric Chevrolet Volt runs out of juice
    Associated Press

    Ground-breaking electric Chevrolet Volt runs out of juice

    As their company was swirling around the financial drain in the early 2000s, General Motors executives came up with an idea to counter its gas-guzzling image and point the way to transportation of the future: An electric car with a gas-engine backup that could travel anywhere. At Detroit's auto show in 2007, they unveiled the Chevrolet Volt concept car, not knowing yet whether they had the technology to pull off a major breakthrough in battery-powered vehicles. GM had hopes that customers would be ready for a car that could go 38 miles on electricity before a small internal combustion generator kicked in.

  • Business

    Etsy Reports Quarterly Earnings Monday. Here's What to Expect.

    Digital craft marketplace (ETSY) (ticker: ETSY) is scheduled to report fourth-quarter financial results on Monday after the market's close. Shares of Etsy, which closed Friday at $56.67, are up some 170% over the last year as the S&P 500 has risen less than 3%. • Wall Street is looking for earnings of 20 cents per share using standard accounting methods, or 27 cents per share without them, according to FactSet, on revenue of $194.9 million.

  • Why Roku's Stock Soared 23% Today
    Motley Fool

    Why Roku's Stock Soared 23% Today

    What happened Shares of home entertainment specialist Roku (NASDAQ: ROKU) surged as much as 23% on Friday thanks to a strong fourth-quarter report. The stock pulled back to a slightly milder 22% gain as of 2 p.m. EST.

  • Business

    For Nordstrom and Other Retailers, More Trouble May Be on the Horizon

    Worries about e-commerce and (AMZN) (AMZN) have hurt the sector in general, but few parts of retail were as hard hit as department stores in recent years. Lumpy earnings results and no hope for a go-private deal took their toll last year, and 2019 hasn't been much kinder to Nordstrom, as the stock fell on its disappointing holiday update. On Friday, Deutsche's Trussell cut his rating on the stock to Hold from Buy and lowered his price target to $51 from $62.

  • Stamps.com stock crashes after dropping USPS
    Yahoo Finance Video

    Stamps.com stock crashes after dropping USPS

    Stamps.com stock crashes after the company revoked the exclusivity requirement of its deal with the United States Postal Service, spurring the end of the partnership.

  • Cleveland-Cliffs Inc. (NYSE:CLF) Earns Among The Best Returns In Its Industry
    Simply Wall St.

    Cleveland-Cliffs Inc. (NYSE:CLF) Earns Among The Best Returns In Its Industry

    Today we are going to look at Cleveland-Cliffs Inc. (NYSE:CLF) to see whether it might be an attractive investment prospect. In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. First up, we'll look at what ROCE is and how we calculate it.

  • Eversource Energy (ES) Q4 2018 Earnings Conference Call Transcript
    Motley Fool

    Eversource Energy (ES) Q4 2018 Earnings Conference Call Transcript

    This equity will help fund nearly $13 billion of core business and capital investments we expect to make through 2023 and also our 50% of the capital requirements associated with the construction of the offshore wind facilities for which we and Orsted have secured PPAs that Jim talked about earlier. We'll also use treasury shares that satisfy our dividend reinvestment program needs. Our expectation to grow earnings per share around the midpoint of the 5% to 7% range through 2023 anticipates the issuance of this equity over the five years.

  • Why Universal Display Stock Skyrocketed Today
    Motley Fool

    Why Universal Display Stock Skyrocketed Today

    What happened Shares of Universal Display (NASDAQ: OLED) were up 22.7% as of 2:30 p.m. EST Friday after the OLED technologist announced strong fourth-quarter results and 2019 guidance. On the former, Universal Display's reported quarterly revenue declined 39.5% to $70.1 million, bringing full-year revenue to $247.4 million -- near the high end of guidance provided in November for a range of $240 million to $250 million.

  • Intel, Pfizer Lead Dow Jones Rally; 3 Stocks Explode Higher On Earnings
    Investor's Business Daily

    Intel, Pfizer Lead Dow Jones Rally; 3 Stocks Explode Higher On Earnings

    The Dow Jones today and other major stock indexes were poised to end the week on a high note amid another round of bullish earnings reports. Intel stock and Pfizer stock were top gainers in the Dow Jones today. In afternoon trading, the Dow Jones industrials, S&P 500 and Nasdaq composite showed gains ranging from 0.5% to 0.7%.

  • Why Casa Systems Stock Got Crushed Today
    Motley Fool

    Why Casa Systems Stock Got Crushed Today

    Both top- and bottom-line results beat the Street's expectations of $65.9 million in sales and an adjusted profit of $0.15 per share. Gross margin was 73.2% and adjusted EBITDA was $21.6 million. Casa's board also authorized a $75 million stock repurchase program.

  • Why Appian Is Nosediving Today
    Motley Fool

    Why Appian Is Nosediving Today

    This was much better than the $55.8 million that Wall Street was expecting and also beat management's guidance. The subscription revenue retention rate was 117%. Non-GAAP net loss was $9.1 million, or $0.14 per share.

  • Elon Musk takes out gigantic mortgages on 5 California mansions
    American City Business Journals

    Elon Musk takes out gigantic mortgages on 5 California mansions

    Elon Musk, one of the country's wealthiest individuals, has taken out $61 million in mortgages on five luxurious mansions in California. Bloomberg reported that the loans, financed through Morgan Stanley (NYSE: MS), are for homes located in the Bel Air neighborhood of Los Angeles (four) and one in Hillsborough, in the Bay Area. Why did Musk, chief executive of Tesla Inc. (NASDAQ: TSLA), SpaceX and Boring Co. and whose net worth is estimated at $23.4 billion, need to take out mortgages for his mansions at the end of last year?

  • 3 Stocks That Have Doubled, and Still Have Room to Grow
    Motley Fool

    3 Stocks That Have Doubled, and Still Have Room to Grow

    Rapid growth has already sent shares of Invitae (NYSE: NVTA), Wix.com (NASDAQ: WIX), and Canada Goose (NYSE: GOOS) skyrocketing. But it may still be the early innings for each of them, according to these three Motley Fool contributors. The potential to develop existing markets more deeply could cause sales and share prices to continue climbing at all three companies.