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Analysis: Liz Cheney says ‘people must watch’ the January 6 hearings, but right-wing media says the opposite

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Analysis: Liz Cheney says ‘people must watch’ the January 6 hearings, but right-wing media says the opposite

Tucker Carlson says the Home choose committee probing the January 6 coup plot is a “wholly illegitimate committee.” Laura Ingraham revels in mocking this week’s “large prime time extravaganza.” Maria Bartiromo worries about riot suspects who’re nonetheless behind bars. Donald Trump calls the entire thing “numerous crap.”

That is the truth of the data setting heading into Thursday’s prime time listening to. Whereas a bipartisan committee of lawmakers is making an attempt to current the complete story of 1/6 to the general public, a media universe filled with Trump allies is making an attempt to do the other.

It is not simply that Republican-aligned media retailers are downplaying the 1/6 committee’s work or heaping skepticism on the method, though each these issues are true. It is that the GOP’s greatest stars are calling the probe “illegitimate” and shouting that they do not care and ridiculing individuals who do care and airing conspiracy theories in regards to the riot as a substitute. They’ve rejected the hearings earlier than the hearings start.

This needs to be factored into information protection. As a result of as goes Tucker “Patriot Purge” Carlson, so goes the GOP. I am not arguing that the hearings are irrelevant — I am saying that they’re vital, and since they’re vital, pro-Trump media figures are on the assault, and that is an enormous a part of the story.

For instance: Will Fox Information even present Thursday’s prime time listening to in full? Fox continues to say no to remark, however it’s arduous to think about Carlson giving up his airtime for a listening to that he calls “illegitimate.”

I looked for references to “January 6” throughout cable information, and located greater than 800 mentions on MSNBC thus far this 12 months, versus nearly 144 on Newsmax. And lots of of these feedback on Newsmax have been both dismissive of the riot or sympathetic to the accused rioters.

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So the result’s one other American info-divide — or possibly one other three-way break up, with politically engaged viewers on either side and uninterested of us in between.

“Sadly, I do not consider that it should transfer the needle,” former DC metropolitan police officer Michael Fanone, who was dragged and crushed that day, told Jim Acosta on Sunday. “I feel the general public on this nation are detached in direction of what occurred on January 6, and everybody else is fairly properly encamped of their facet of the political aisle.”
>> Sure, political scientist Brendan Nyhan said Sunday, how the 1/6 committee’s findings are offered to the general public “issues a bit on the margin.” However there are “a LOT of unrealistic hopes being placed on the stagecraft proper now.” He stated the committee “is preventing uphill in opposition to structural components advantaging Republicans” plus a “media need for brand spanking new revelations and drama which are unlikely to be forthcoming…”

One other problem: Quick consideration spans

“When the committee holds the primary in a sequence of public hearings in prime time on Thursday,” E.J. Dionne Jr. wrote on this WaPo column, “its members will probably be preventing uphill in opposition to the brief consideration span of our political and media system. They may even be battling a concerted marketing campaign of distraction by Trump’s supporters and the overwhelming majority of Republican politicians — irrespective of their actual view of Trump — who need to make the risk to our democracy disappear as a public situation…”

Woodward & Bernstein’s view

The long-lasting reporting duo joined me on Sunday’s “Dependable Sources” for a phase in regards to the fiftieth anniversary of the Watergate break-in. They talked in regards to the “bond” they’ve shared for many years, filled with discussions and disagreements. Then we turned to 1/6. “Carl and I, and our infinite discussions, agree… there may be an abundance of overwhelming proof that this was a legal conspiracy to subvert a lawful perform of presidency,” Woodward stated.
>> The 2 males wrote about this in a brand new foreword to “All The President’s Males.” It was printed by the Put up on Sunday…

>> “What occurred on January 6? POTUS, his attorneys, his aides,” tried to maintain the election “from taking place,” Bernstein stated. They tried to “stage a coup in order that Joe Biden couldn’t grow to be the duly elected and put in president.” He stated “I feel there is a misunderstanding in regards to the enormity and the precise timeline of what occurred…”

Costa’s query to Cheney

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Woodward’s “Peril” co-author Robert Costa interviewed the 1/6 committee’s vice chair, Rep. Liz Cheney, for a curtain-raiser on “CBS Sunday Morning.”

He requested: “Are you assured that what you’ve got discovered, as a committee, will in some way seize the American folks by the lapels and say, ‘Get up: It’s a must to concentrate’?”

“I’m,” she stated… “The risk, and it is an ongoing risk — you already know, we aren’t in a state of affairs the place former President Trump has expressed any sense of regret about what occurred. We’re the truth is in a state of affairs the place he continues to make use of much more excessive language, frankly, than the language that brought about the assault. And so, folks should concentrate. Individuals should watch, they usually should perceive how simply our democratic system can unravel if we do not defend it.”

Truthful — however “folks should watch” would not reckon with the truth that a large number of People not solely will not watch however will proudly show their disinterest as a part of their political identification.

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NYSE trading glitch costs Interactive Brokers $48mn

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NYSE trading glitch costs Interactive Brokers $48mn

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A trading glitch on the New York Stock Exchange earlier month has cost Interactive Brokers $48mn after its customers tried to pile into Berkshire Hathaway shares following a 99 per cent plunge.

The brokerage on Wednesday said it was considering its options “including any claims at law it could assert against NYSE” but said the hit was not material to earnings.

Berkshire Hathaway’s class A shares were among several that plummeted unexpectedly on June 3 because of a technical issue in early trade on the NYSE, which is part of Intercontinental Exchange.

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Berkshire’s shares collapsed from about $622,000 to $185 a share before the exchange halted trading.

The price plunge spurred a raft of buy orders during the halt, “presumably expecting those orders to be filled at approximately $185/share when trading resumed”, Interactive said.

The broker, founded by electronic trading pioneer Thomas Peterffy, is popular with retail investors as well as professional traders such as hedge funds.

When trading resumed almost two hours later Berkshire’s shares shot as high as $741,941 within minutes, leading Interactive’s customers to have their orders filled “at various prices during this run-up, including some who were filled at the peak price”.

After markets closed on June 3, NYSE said it would “bust” or cancel, all trades at or below $603,718.3 conducted before trading was halted.

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The loss stems from Interactive Brokers’ decision to take over a substantial portion of the trades through its platform “as a customer accommodation” after NYSE on the day told the brokerage that it would not cancel Interactive’s deals as the broker had asked.

NYSE on Tuesday denied Interactive’s subsequent claims for compensation, spurring Wednesday’s notice. NYSE declined to comment.

About 40 securities in total were affected by the June 3 episode, including Barrick Gold and restaurant chain Chipotle. The exchange said the glitch stemmed from a technical issue with price bands published by the group that consolidates the trading data from all the US securities exchanges, known colloquially as the “tape”.

Shares in Interactive Brokers were unaffected by Wednesday’s news, trading up 0.5 per cent by late morning on Wednesday and up about 48 per cent this year.

In 2020 the brokerage lost up to $88mn from the collapse in value of short-term WTI oil futures contracts when it stepped in to pay margin calls owed to clearing houses for customers caught on the wrong side of the trade.

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Congress poured billions of dollars into schools. Did it help students learn?

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Congress poured billions of dollars into schools. Did it help students learn?

Two new studies offer a first look at how much more students learned thanks to federal pandemic aid money.

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Blend Images – JGI/Jamie Grill/Tetra images RF/Getty Images

America’s schools received an unprecedented $190 billion in federal emergency funding during the pandemic. Since then, one big question has loomed over them: Did that historic infusion of federal relief help students make up for the learning they missed?

Two new research studies, conducted separately but both released on Wednesday, offer the first answer to that question: Yes, the money made a meaningful difference. But both studies come with context and caveats that, along with that headline finding, require some unpacking.

How much of a difference did the money make?

$190 billion is an enormous amount of money by any measure. But districts were only required to spend a fraction of the relief on academic recovery, by paying for proven interventions like summer learning and high-quality tutoring. So how much additional student learning did the federal aid actually buy?

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Study #1, a collaboration including Tom Kane at Harvard’s Center for Education Policy Research and Sean Reardon at Stanford’s Educational Opportunity Project, estimates that every $1,000 in federal relief spent per student bought the kind of math test score gains that come with 3% of a school year, or about six school days of learning. That’s during the 2022-23 academic year.

Improvements in reading scores were smaller: roughly three school days of progress per $1,000 in federal relief spending per student.

The federal relief “was worth the investment,” Reardon tells NPR. “It led to significant improvements in children’s academic performance… It wasn’t enough money, or enough recovery, to get students all the way back to where they were in 2019, but it did make a significant difference.”

Study #2, co-authored by researcher Dan Goldhaber at the University of Washington and American Institutes for Research, offers a similar estimate of math gains. The increase in reading scores, according to Goldhaber, appeared comparable to those math gains, though he says they’re less precise and a little less certain.

“It did have an impact,” Goldhaber tells NPR, an impact that’s “in line with estimates from prior research about how much money moves the needle of student achievement.”

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Who benefited the most?

The federal recovery dollars came in three waves, known as ESSER (Elementary and Secondary School Emergency Relief Fund) I, II and III. The first two waves were relatively small, roughly $68 billion, compared to the $122 billion of ESSER III.

The windfall was distributed to schools based largely on need – specifically, based on the proportion of students living in or near poverty. The assumption being: Districts with higher rates of student poverty would need more help recovering. COVID hit high-poverty communities harder, with higher rates of infection, death, unemployment and remote schooling than in many affluent communities.

“These and other factors likely caused greater learning loss during the pandemic and dampened academic recovery,” Goldhaber writes in Study #2, pointing out that, “the Detroit, MI public school district received about $25,800 per pupil across all waves of ESSER… [while] Grosse Pointe, MI (a nearby suburb) only received about $860 per pupil.”

Here’s where the story of these federal dollars gets complicated, because the learning they appear to have bought wasn’t experienced evenly, according to Goldhaber.

In Study #2, he and co-author Grace Falken, found larger academic benefits from federal spending in districts serving low shares of Black and Hispanic students. Though he tells NPR, these patterns “do not necessarily imply that ESSER’s impacts vary because of student demographics. Rather, the results could reflect other district characteristics that happen to correlate with the student populations the districts serve.”

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Reardon and Kane did not find statistically significant evidence of this kind of variation.

Goldhaber and Falken also found that towns saw more math gains than cities, while rural areas led the way in reading growth. Interestingly, suburban districts generally experienced “smaller, insignificant impacts” from the federal spending in both subjects.

But did the money help enough?

If your standard for “enough” is a full recovery for all students from the learning they missed during the pandemic, then no, the money did not remedy the full problem.

But the researchers behind both studies say that’s an unrealistic and unreasonable yardstick. After all, Congress only required that districts spend at least 20% of ESSER III funds on learning recovery. The rest of the relief came with relatively few strings attached.

Instead, the researchers say, the money’s effectiveness should be judged by a more realistic standard, based on what previous research has shown money can and cannot buy.

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Harvard’s Tom Kane, of Study #1, points out that their results do line up with pre-pandemic research on the impact of school spending, and suggest a clear, long-term return on investment.

“These academic gains will translate into improvements in earnings and other outcomes that will last a lifetime,” Kane tells NPR.

For example, the academic gains associated with every $1,000 in per student spending would be worth $1,238 in future earnings, Kane estimates. Increased academic achievement also comes with valuable social returns, he says, including lower rates of arrest and teen motherhood.

What’s more, Reardon tells NPR, because these federal dollars disproportionately went to lower-income districts, “not only do we find that the federal investment raised test scores, but we also find that it reduced educational inequality.”

But the work’s not over.

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In Study #2, Goldhaber and Falken write, “to recover from these remaining losses, our estimates suggest schools would need between $9,000 and $13,000 in additional funds per pupil, assuming the return on those funds is similar to what we estimated for ESSER III.”

They also warn that middle-income districts could continue to struggle – because they experienced academic losses but got less federal aid.

In a presidential election year, it’s unlikely Congress will agree to send schools more money. And Goldhaber worries, as ESSER funds begin to expire this year, districts will have to cut staff.

“Some districts, particularly high poverty, high minority districts, are going to lose so much money that I think teacher layoffs are inevitable,” Goldhaber tells NPR. “So I’m worried that the funding cliff – there’s a downside that we’re not thinking hard enough about.”

The good news, says Kane, is that ESSER was a massive, “brute force” effort, and a far smaller, state-driven effort could still make a big difference, so long as it’s hyper-focused on academic interventions.

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Kane says, “It falls to states to complete the recovery.”

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Atos crisis deepens as biggest shareholder ditches rescue plan

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Atos crisis deepens as biggest shareholder ditches rescue plan

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A rescue bid for French IT services group Atos led by its largest shareholder has collapsed, casting the future of the troubled group into doubt once again.

Atos said on Wednesday that the consortium led by Onepoint, an IT consultancy founded by David Layani, had withdrawn a proposal that would have converted €2.9bn of Atos debt into equity and injected €250mn of fresh funds into the struggling company.

“The conditions were not met to conclude an agreement paving the way for a lasting solution for financial restructuring,” Onepoint said in a statement on Wednesday.

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The decision by Onepoint comes less than a month after Atos had picked its restructuring proposal over a competing plan from Czech billionaire Daniel Křetínsky. Atos said on Wednesday that Křetínsky had already indicated he wanted to restart talks.

Once a star of France’s tech scene, Atos is racing to strike a restructuring deal by next month as it struggles under its €4.8bn debt burden. It has cycled through multiple chief executives over the past three years and its shares have collapsed. They were down 12 per cent in early trading on Wednesday.

Atos also said it had received a revised restructuring proposal from a group of its bondholders.

“Discussions are continuing with the representative committee of creditors and certain banks on the basis of this proposal with a view to reaching an agreement as soon as possible,” the company said. 

Jean-Pierre Mustier, former chief executive of Italian lender UniCredit, was installed as chair in October 2023 and given the task of putting Atos on a stable footing for the future. Since his appointment, several efforts to stabilise Atos through asset sales have fallen apart.

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If talks with Křetínsky do restart, it will mark the Czech businessman’s third attempt to do a deal with Atos after an earlier plan to buy its lossmaking legacy business unravelled.

One of the people close to the talks said creditors had not necessarily become more receptive to Kretinsky’s plan given it cutting a larger chunk of the group’s debt.

The crisis at Atos has prompted the French government to intervene. It is currently seeking to acquire three parts of Atos that are deemed of importance to national security for up to €1bn.

Atos said on Wednesday it had concluded a deal with the French state that would give it so-called “golden shares” in a key Atos subsidiary, Bull SA. The agreement also gives the government the right to acquire “sensitive sovereign activities” in the event a third party acquired 10 per cent of the shares — or a multiple thereof — in either Atos or Bull.

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