The Megyn Kelly Show - Real Story Behind Russiagate Subpoenas, 50-Year Mortgage Backlash, Letitia Drama： AM Update 11⧸12

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00:00:30.000 Good morning, everyone. I'm Megan Kelly.

00:00:34.860 It's Wednesday, November 12th, 2025, and this is your AM Update.

00:00:39.240 There's probably much more evidence that was never considered before.

00:00:42.420 A slew of new subpoenas targeting high-ranking Obama administration officials,

00:00:47.640 suggesting the investigation into the origins of the Russia collusion hoax could be heating up.

00:00:53.940 It's renting disguised as homeownership.

00:00:57.100 You won't own your home until you're in your 80s.

00:01:00.320 President Trump pitches a 50-year mortgage, and many in MAGA do not like it.

00:01:06.040 Mr. Trump delivers remarks commemorating Veterans Day at Arlington National Cemetery,

00:01:11.080 and a wild new report on the shenanigans at New York Attorney General Letitia James'

00:01:16.100 Virginia properties occupied by her troubled relatives.

00:01:21.120 All that and more coming up in just a moment on your AM Update.

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00:02:38.060 Last week, a federal grand jury out of the Southern District of Florida reportedly subpoenaing former CIA Director John Brennan

00:02:45.660 and former FBI officials Peter Strzok and Lisa Page.

00:02:49.280 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.

00:03:01.120 The New York Times reporting earlier this week, former Director of National Intelligence under President Obama, James Clapper, one of those subpoenaed.

00:03:08.820 MSNBC reporting, quote, the subpoenas request documents, including emails and texts, related to the intelligence community assessment about Russian interference in the 2016 election.

00:03:20.440 The relevant dates are between July 1st, 2016 and February 28th, 2017.

00:03:25.540 That timeframe including the last six months of the Obama administration into the early months of Trump 1.0,

00:03:33.980 covering the period of time in which outgoing President Obama reportedly ordered the intelligence community

00:03:39.560 to compose a new Intelligence Community Assessment, or ICA, on Russian interference in the 2016 election.

00:03:47.920 Director of National Intelligence Tulsi Gabbard and CIA Director John Ratcliffe, making documents public over the summer,

00:03:54.900 showing that ICA did not adhere to intelligence community standards in its determination that Russia, quote,

00:04:02.780 aspired to help Mr. Trump's chances of victory.

00:04:06.280 For example, a declassified House Intel Committee report found that CIA Director Brennan, under Obama,

00:04:13.100 overruled two senior CIA officers who objected to any reference to the now discredited Clinton-funded Steele dossier in the ICA.

00:04:22.740 When confronted about the Steele dossier's many flaws, Brennan said,

00:04:27.060 yes, but doesn't it ring true, according to the report?

00:04:30.960 The New York Post reporting, quote,

00:04:32.700 the people targeted by the subpoenas are seen as part of the conspiracy that peddled claims

00:04:38.100 President Trump's campaign colluded with the Russian government ahead of the 2016 election.

00:04:43.620 We spoke with lawyer and founder of the Article 3 Project, Mike Davis,

00:04:48.040 on the significance of these subpoenas and what could be coming next.

00:04:51.620 I have pushed very publicly for over three years for that Fort Pierce grand jury to investigate

00:04:57.320 all of this criminal misconduct by Obama, Biden, Hillary, the Attorney General,

00:05:05.880 Comey, Brennan Clapper, Weissman, Jay Bratt, Jack Smith, Fannie Willis, Tish James,

00:05:13.120 all of these lawfare Democrats who politicized and weaponized law enforcement and intel agencies

00:05:20.020 to go after Trump, his top eights, his allies, his supporters.

00:05:24.680 Davis, a good friend of U.S. Attorney Jason Redding-Kinones for the Southern District of Florida,

00:05:29.940 who is overseeing the probe, on what the reported scope of the subpoenas indicates about the investigation.

00:05:36.220 If MSNBC's reporting is accurate, that would indicate that these initial subpoenas are looking at

00:05:44.420 the Russian collusion hoax at the end of the Obama administration, at the beginning of the Trump

00:05:51.360 administration. And so I think that's going to be a piece of this investigation. But I think this

00:05:57.520 investigation could be much broader than that. And I anticipate that it will be much broader than that.

00:06:02.600 I think it's going to cover this ongoing criminal conspiracy over the last eight years.

00:06:07.820 As far as the possible crimes the targets of the investigation may have committed,

00:06:11.860 Davis pointing to 18 U.S.C. Section 241, Conspiracy Against Rights.

00:06:18.300 Congress enacted the federal criminal statute of conspiracy against rights to the Civil War to take

00:06:25.780 down the Klan. When people conspire to violate the constitutional rights of Americans,

00:06:32.600 they are committing a very serious federal civil rights felony. The advantage to conspiracy against

00:06:39.260 rights is it is a very broad statute. And there is an ongoing criminal conspiracy, meaning the federal

00:06:48.400 statute of limitations of five years that generally applies to almost all federal crimes would not save

00:06:56.560 these lawfare Democrats because the conspiracy is ongoing. Covering up a conspiracy continues the conspiracy.

00:07:05.340 The conspiracy has not ended. It's because they're actively trying to cover it up. They're lying about it.

00:07:10.960 They're obstructing the investigations.

00:07:12.820 The statute of limitations on criminal conspiracy expires after five years, and the reported scope of these subpoenas

00:07:19.680 falls well outside of that limit. Davis explaining here why he believes Klanones has room to maneuver.

00:07:26.380 The statute of limitations does not begin to toll until the conspiracy has ended. You have to disavow the conspiracy

00:07:37.300 to end the conspiracy, and then you have five years from when the conspiracy ends to bring these federal charges

00:07:44.440 for conspiracy against rights. But when you cover up a conspiracy, you continue the conspiracy.

00:07:50.740 Every person who politicized and weaponized intel agencies and law enforcement to take out their

00:07:57.980 political enemies for non-crimes could be subjected to this criminal conspiracy against rights investigation

00:08:05.260 that apparently is being let out of the Southern District of Florida.

00:08:09.840 Critics of these subpoenas say Russiagate has already been investigated twice, once by special counsel

00:08:15.720 John Durham, and once by DOJ Inspector General Michael Horowitz. No high-ranking officials charged

00:08:22.440 in the aftermath of either probe. We asked Davis about that.

00:08:26.700 Number one, I would say to these lawfare Democrats, if there's nothing here, they have nothing to worry

00:08:31.720 about. Number two, I would say to these lawfare Democrats, Kash Patel and Dan Bongino working with

00:08:37.820 Senator Chuck Grassley just found very damning records in burn bags and a skiff at the FBI. So they just

00:08:45.100 discovered that new evidence that was never considered before. And there's probably much

00:08:50.400 more evidence that was never considered before. These investigations in the past were not taken

00:08:55.300 seriously enough. And that's obvious by the fact that they found these records in burn bags that

00:09:00.200 are so damning. Time will tell. Coming up, President Trump delivering remarks commemorating Veterans Day

00:09:07.520 at Arlington National Cemetery. And a scandalous report about repeated police activity

00:09:13.080 at two homes owned by New York Attorney General, no one is above the law, Tish James. 0.59

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00:10:46.360 President Trump igniting a new debate relating to the housing crisis. Posting a graphic to Truth

00:10:51.760 Social Saturday headlined, quote, Great American Presidents, featuring an image of FDR with the

00:10:57.920 captioned 30-year mortgage and an image of President Trump captioned 50-year mortgage. The idea facing

00:11:04.360 swift backlash from the MAGA base. The recently released National Association of Realtors 2025

00:11:10.820 profile revealing a startling statistic. For the first time, the median age for the first-time home

00:11:17.220 buyer is 40. In 2010, the median age was 30. The U.S. Chamber of Commerce reporting a shortage of more

00:11:25.280 than 4.7 million homes contributing to skyrocketing prices. Executive Director of the Ron Paul Institute

00:11:32.500 for Peace and Prosperity, Daniel McAdams, dedicated to free market principles, describing the dire

00:11:38.640 reality of these stats on the Ron Paul Liberty Report podcast. 40 years old is the average age.

00:11:44.680 How devastating that is for families. Say a woman wants to settle down and get married. The man can't 0.60

00:11:50.240 buy a house until he's 40. She's already 40 years old when she's starting a family. You know, 0.99

00:11:55.020 it's just absolutely terrible. The man behind President Trump's 50-year mortgage pitch,

00:11:59.880 the nation's top housing finance regulator, Bill Pulte. Pulte reportedly floating the idea as a

00:12:05.560 means of making home buying more accessible for Americans amid an affordability crisis.

00:12:10.920 Political reporting, White House officials are furious with Pulte for bypassing official channels

00:12:15.980 and pitching the unvetted idea directly to President Trump, who reportedly posted the graphic

00:12:21.340 to Truth Social just minutes after their Mar-a-Lago conversation. Mr. Trump pushed on Fox about the

00:12:27.460 proposal shrugging off the criticism. Is that really a good idea?

00:12:31.820 It's not even a big deal. I mean, you know, you go from 40 to 50 years and what it means is you pay,

00:12:38.100 you pay something less from 30 that some people had a 40 and then now they have a 50. All it means is

00:12:43.800 you pay less per month. You pay it over a longer period of time. It's not like a big factor. It might

00:12:49.060 help a little bit. But the problem was that Biden did this. He increased the interest rates and I have a

00:12:54.240 lousy Fed person who's going to be gone in a few months. Fox host Charles Payne on Monday,

00:12:59.300 breaking down the math and why he believes a 50-year mortgage is not the solution to an

00:13:04.300 affordability crisis. I do not like this idea. And again, it depends on how much the house costs

00:13:10.480 and what. But if you just took a 4% interest rate for a 30-year, it would be $2,300. For a 50-year,

00:13:16.060 it would be $1,900. So you're saving almost $500 a month in terms of affordability. But by the time

00:13:21.700 you finish paying this bad boy off, the 30-year, you pay $359,000 versus a 50-year,

00:13:27.360 almost $700,000, right? So it's just a gargantuan difference just to make people feel better.

00:13:33.320 The administration has not announced an official policy for now.

00:13:38.640 President Trump yesterday, flanked by Vice President and Iraq War veteran J.D. Vance and

00:13:43.320 Veterans Affairs Secretary Doug Collins, laying a wreath at the tomb of the unknown soldier

00:13:48.200 in Arlington National Cemetery in honor of Veterans Day. President Trump thanking the nation's

00:13:53.740 veterans.

00:13:54.020 This morning on these hallowed grounds where generations of American heroes rest in eternal

00:14:00.540 glory, we gather to fulfill the sacred duty of every free man and woman. On Veterans Day,

00:14:08.100 we honor those who have worn the uniform, who have borne the battle, who have stood to watch,

00:14:14.540 whose ranks have formed the mighty wall of flesh and blood, bravery and devotion that has defended

00:14:22.440 our freedom for 250 years. Today, to every veteran, we love our veterans, we say the words too often

00:14:32.760 left unsaid. Thank you for your service. Thank you very much.

00:14:38.380 The president also making this proclamation.

00:14:40.380 As you know, today is not only Veterans Day, but it's my proclamation that we are now going

00:14:47.800 to be saying and calling Victory Day for World War One. I was recently at an event and I saw France

00:14:56.860 was celebrating Victory Day, but we didn't. And I saw France was celebrating another Victory Day for

00:15:03.920 World War Two and other countries were celebrating. They were all celebrated. We're the one that won the

00:15:09.260 wars. And I said, from now on, we're going to say Victory Day for World War One and World War Two.

00:15:15.840 And we could do for plenty of other wars, but we'll start with those two.

00:15:20.620 The president has previously floated the idea of renaming Veterans Day Victory Day,

00:15:25.400 but the change has not yet been made official.

00:15:29.400 More drama on New York Attorney General Letitia James's home front. 1.00

00:15:33.400 The New York Post exclusively reporting on a flurry of police activity at two homes in Norfolk,

00:15:40.040 Virginia, owned by James, who famously often repeats that no one is above the law.

00:15:46.620 James allegedly purchased the homes in 2020 and 2023. In October, a federal grand jury indicting

00:15:53.000 James on charges of bank fraud and false statements to a financial institution relating to the home

00:15:58.160 purchased in 2020. The DOJ alleging James illegally obtained favorable mortgage terms by representing

00:16:04.760 that it would be her second residence used for her own personal use and enjoyment, when she instead

00:16:11.160 used it as an investment property and let family live there. James denies any wrongdoing.

00:16:17.060 The Post reporting that James's own behavior, not the only alleged crime committed by those who own or

00:16:23.240 occupy the James residences in Virginia, reporting that James's criminally troubled

00:16:28.020 grandniece, 36-year-old Nakia Thompson, moved into one of the homes with her children soon after 0.92

00:16:33.860 closing in August 2020. The cops reportedly called to that residence 12 times, including several

00:16:40.500 occasions in which they were called multiple times in one day. Sure, that's normal. According to the

00:16:46.460 Post, quote, cops went out to the house for issuing warrants and subpoenas, as well as for incidents

00:16:51.620 labeled vandalism, domestic issues, and for suspicious persons. Of the dozen total calls,

00:16:57.300 three placed in 2020, one each from 2021 to 2023, and six in the first two weeks of October of this

00:17:04.900 year, coinciding with news raking about the property. And it doesn't end there. The Post reports that

00:17:10.440 Thompson is a fugitive from authorities in North Carolina for failing to finish probation related

00:17:15.660 to charges including malicious conduct by a prisoner, assault of a government official, and resisting a

00:17:21.660 public officer. While many fugitives attempt to lay low, the paper reporting numerous run-ins with the

00:17:28.420 law in Virginia, including when Thompson, quote, allegedly threatened to punch her child's assistant

00:17:33.480 principal after calling her a bald-headed bitch. James's other Virginia home, purchased in 2023,

00:17:40.060 occupied by James's niece and her two children, also the site of repeated police activity. The Post

00:17:46.820 reporting cops showing up nine times between April and October 2024 and once in April of this year.

00:17:54.320 Grandniece Kayla Thompson Hairston, a resident at this property and a reported OnlyFans model,

00:18:00.700 charged in April 2024 with lying about her criminal record when she tried to purchase a gun in Suffolk,

00:18:06.940 Virginia. According to the Post, in August of 2020, Kayla was charged with, quote, malicious wounding,

00:18:13.880 defined as shooting, stabbing, cutting, or wounding another person with intent to maim, disfigure,

00:18:19.900 disable, or kill. Meanwhile, her great-aunt, Tish James, was in New York, boasting about her, 0.97

00:18:26.100 quote, sworn duty to protect and uphold state law, end quote, promising to, quote, follow the facts of

00:18:33.360 any case wherever they lead. These facts would have led her right to her own property and the presidents

00:18:39.220 of a fugitive and an OnlyFans model who can't seem to keep the cops off of James's doorstep.

00:18:46.240 Are they above the law, Tish?

00:18:50.400 And that'll do it for your AM update. I'm Megyn Kelly. Join me back here for The Megyn Kelly Show,

00:18:55.240 live on SiriusXM's The Megyn Kelly Channel, 111 at noon east, on youtube.com slash Megyn Kelly,

00:19:00.160 and on all podcast platforms.

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The Megyn Kelly Show - November 12, 2025

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

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