Republican Lawmakers Accuse SEC Of Being Weaponized Against Donald Trump's Truth Social Merger

Republican lawmakers fear that the SEC's unusual stalling of its approval of the merger between Trump Media & Technology Group and Digital World Acquisition Corporation is potentially due to the politicization of the body, according to Just the News.

The consequences of the merger, as Just the News notes, will be that Truth Social's platform becomes publically traded on the stock exchange. A Republican member of the House Financial Services Committee, Representative Dan Meuser (R-PA), said that it is "absolutely inexplicable why we have seen immense delays, immense delays to the point of it's been about 355 days, I think exactly 355 days, of waiting on a review, a response, and approval."

Mr. Meuser pointed out that "typically this takes about 100 days, under Gary Gensler, it takes 130 days." The Keystone Republican asked "So why is it that this was such an outlier?" and answered that "We have some serious concerns about conflicts of interests. And this is not a boogeyman situation. Gary Gensler in 2016, the chairman of the SEC, was the CFO, the chief financial officer for the Hillary Clinton campaign."

Representative Meuser recalled that Mr. Gensler was involved in the funding of the now infamous and thoroughly discredited Steele Dossier that accused Trump of actively colluding with Russia to win the 2016 election. Mr. Meuser noted that "he [Gensler] has a conflict of interest on anything related to Donald J. Trump."

He also mentioned how other members of the SEC were all involved in anti-Trump activities. He recalled that "Melissa Hodgman...was married to that wonderful character, [fired anti-Trump FBI agent] Peter Strzok ... She is the director of enforcement at the SEC, overseeing the approval process for this, this merger. And we all remember good old Peter Strzok, who stood in the way and wrote emails on how we can't let Donald Trump be president and lied about it ... and yet the wife is overseeing this."

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He also pointed out that another SEC member, Meghan Barbero, worked on Trump's impeachments. The Republican lawmaker then asked, "Why haven't any of these people recused themselves?"

Mr. Meuser stated that his committee "want to know how much of an outlier this is...How abnormal? ... And we're going to find that out. And we're also going to find out what is the legal basis for the delay and everything else that we need to know. Because that's only asking reasonable transparency from a taxpayer-funded agency, which the SEC is." He promised that "We're gonna get to the bottom of it."

The congressman summarized the problem in a tweet where he said that "Political bias at the SEC is obstructing Truth Social’s ability to become a publicly traded company. Truth Social has been waiting 353 days for SEC approval – despite the average wait time being only 134 days."
     

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Political bias at the SEC is obstructing Truth Social’s ability to become a publicly traded company. Truth Social has been waiting 353 days for SEC approval – despite the average wait time being only 134 days. https://t.co/HCASmy2tfm

— Congressman Dan Meuser (@RepMeuser) May 8, 2023