By Democrats want retribution for losing in 2024 instead of trying to make things more affordable, and one of the more powerful House members of the party is making that clear. Rep. Jamie Raskin (D-Md.) said Wednesday night that he plans to subpoena major law firms that pledged hundreds of millions of dollars in free legal work under agreements with President Donald Trump. Raskin sought details of those deals as the top Democrat on the House Judiciary Committee. The firms declined to provide them, but Democrats’ midterm victory will give him the power to compel a response when he takes the chair in January.
Jamie Raskin promises Democrats will be going after corporations and law firms that "collaborated," "capitulated" and "surrendered" to Trump.
Translation: We will try to destroy any company or firm that dared to work with the Trump administration. Examples must be made for… pic.twitter.com/RrpY335VoE
— Western Lensman (@WesternLensman) November 5, 2026
Raskin singled out Paul, Weiss during an appearance on MS NOW the night after the election. “There are major law firms in America, including Paul, Weiss, that have capitulated to these coercive tactics from Donald Trump and have basically surrendered and made all sorts of outrageous concessions,” he said.
Paul, Weiss, Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom were among the firms Raskin contacted earlier in Trump’s second term. Their agreements included pledges to provide free legal services for causes the administration supported. Raskin wants to examine what the White House asked of the firms and whether it used the power of the presidency to secure those commitments.
The law firm deals are among the first investigative priorities House Democrats have identified after campaigning on the cost of living and health care. Rep. Robert Garcia (D-Calif.), who is expected to chair the House Oversight Committee, had a two-word warning Wednesday evening. “Lawyer up.” Earlier that day, Rep. Yassamin Ansari (D-Ariz.) had addressed Trump directly. “Thank you, Mr. President. Our thank you will come in January – with subpoenas.”
Former national security adviser Susan Rice had urged companies to prepare for precisely that prospect months before the election. As the New Conservative Post reported in its coverage of Rice’s February interview with former U.S. Attorney Preet Bharara, Rice said companies were already hearing that they should preserve records in anticipation of subpoenas. She predicted an “accountability agenda” extending to law firms, universities and media outlets that accommodated the administration. “This is not going to be an instance of forgive and forget.”
Democrats are still debating how far the inquiries should reach. Judiciary and Oversight committee staff reviewed a proposal from the progressive Groundwork Collaborative that outlined investigations into corporate influence, including the role of technology and energy companies. Some Democrats favor a narrower inquiry into the president’s business interests and those of his family. The Senate could open a separate line of inquiry into the financial industry, where Sen. Elizabeth Warren (D-Mass.) is in line to chair the Banking Committee, as the New Conservative Post reported in its look at Warren’s potential role in a Democratic majority.
Some House members are explicitly calling for a complete ban of AI.
Top of the Democratic agenda on day 1 needs to be a pause on advanced AI development, regulation of this out of control industry, and a ban on artificial superintelligence.
— Congresswoman Yassamin Ansari (@RepYassAnsari) November 4, 2026
Conservative critics say Raskin’s remarks suggest Democrats intend to punish companies for reaching agreements with the administration. Democrats argue that Congress has grounds to investigate whether the White House coerced those firms. Raskin has yet to announce which firm will receive the committee’s first subpoena.
The reaction to the Democrats revealing their radical intentions was a disaster for the stock market.
Absolute insanity.
In just 40 minutes, the S&P 500 has now erased -$2 trillion in market cap.
The entire post-Midterm Election rally has been erased in a matter of minutes.
This is one of the fastest market cap losses in stock market history. pic.twitter.com/sdmfNljwed
— The Kobeissi Letter (@KobeissiLetter) November 5, 2026
Trump responded to the crash, pointing out that Democratic radicalism was going to cost Americans their life savings.
BREAKING: President Trump releases a statement on today’s stock market crash.
Trump calls today one of the market’s “worst days in history.” pic.twitter.com/qobQdhCqut
— The Kobeissi Letter (@KobeissiLetter) November 5, 2026
For families already struggling with the cost of living, a prolonged market slump can shrink their 401(k) balances and leave pension funds with fewer assets to pay the benefits workers have earned. So much for the “affordability agenda” liberals promised on Tuesday.
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