“New Head of DNI” - Tulsi Gabbard’s Replacement Shocks The Market

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**Patrick Bet-David** (0:30)
Bill Pulte is announced as the DNI, replacing Tulsi Gabbard. Rob, that's the story, right? I mean, literally when you first saw this, I thought it was a, I thought the guys were joking around saying, hey, that's the announcement that was made. But let me read this to you.
Donald Trump has named housing official to serve as acting director of National Intelligence, DNI, the country's top spy chief overseeing 18 government intelligence agencies. Bill Pulte, part of a powerful home building dynasty and a private equity financier, has no known background in intelligence and his selection to temporarily fill the position is stirring controversy amongst lawmakers and others. Pulte has been accused of using his role as a director of federal housing finance agency to target Trump's perceived enemies by making criminal referrals over claims of mortgage fraud. In an announcement on social media Tuesday, Trump praised Pulte for overseeing government-controlled mortgage company Fannie Mae and Freddie Mac. William has deep experience managing the most sensitive matters in America, the safety of soundness of the markets and over $10 trillion at Fannie Mae and Freddie Mac, a substantial increase from where it was just 12 months ago. During this period, where it was just 12 months ago, he will remain director of the Federal Housing Finance Agency and chairman of Fannie Mae and Freddie Mac. Congratulations to Director Pulte. Tom, thoughts on this?

**Tom** (1:51)
So I noticed that he's staying at Fannie Mae and Freddie Mac, maybe CEO of the dual organization, the director.
And what's interesting is he's acting. No one is in the chair. Trump needs someone in the chair. And there were a series of investigations that Tulsi had going on that can't just sit. So I am wondering, and the White House has got to confirm it, that this guy is a pit bull and he's tough. So I'm curious as we're saying, listen, Bill, I need you to step into the seat and I need you to pick up these investigations that Tulsi had going, go for it. Push them, keep them going, but you're going to keep your job here and then we're going to name somebody to the post. I'm wondering if that's it because all of the announcements and the press secretary reiterating it have said, hey, he's going to stay as Director of Federal Housing Finance Agency and Chairman of Fannie Mae and Freddie Mac. So if he's going to keep doing that but he's acting over here, it kind of is one of those things like where we've seen it in business, Pat. The CFO will be the acting CEO and he will make the announcement to the stock markets while we continue our search for a CEO. The only thing the White House didn't say is the while we continue our search for a CEO.
So, my curiosity, is this truly an acting role while they do a search so that he can continue those prosecutions and investigations that Tulsi had going?

**Brian** (3:17)
Brian.
You know, Trump has this one characteristic. I think he looks at Washington, previous to him, as being a joke in many respects. Fifty-one former intelligence officers came out and said the Hunter Biden laptop was Russian disinformation. I mean, that's a joke. It wasn't ever true. They knew it when they did it. And Trump has disdained for them. And so, by appointing Pulte, I think he gets to do two things. He gets his own pitbull in place, and he kind of gets to show that, hey, maybe all these people in Washington, DC., when they tell you we need an intelligence expert to do this job, maybe they're just joking around, because all they're really doing is putting politicians in the places. They just call them intelligence officials. Humberto.

**Humberto** (4:12)
I mean, the main thing that intelligence agencies in general need, they need to be audited. So having a business guy there, they can do hiring and firing. If he's an actual pitbull, as you say, I think that's the guy we need. You know what I mean? This is not the first time in history that we have people without any intelligence or military experience. You have Mike McConnell, he took the position.