When Steve Bannon refused to comply with a subpoena from the January 6th Committee, pundits raced to insist that it meant Bannon was somehow winning. Some even insisted that Bannon wanted to get indicted for contempt, and that going to prison was somehow part of his secret evil genius master plan. But back in the real world, it’s been obvious from the start of this process that Bannon is simply tapped out.
Even as Steve Bannon openly fantasizes about the thousands of imaginary “shock troops” he’s going to raise against the United States government, the reality is that he’s cornered and has no good options.
Bannon has pretty clearly been hard up for money for awhile, given that in mid 2020 he was arrested for the petty scam of raising money to build an imaginary Trump border wall and then pocketing it. Worse, when Bannon was arrested, he was on the yacht of a Chinese investor, presumably trying to line up yet another scam to keep himself afloat. Then, after Donald Trump pardoned him in 2021, Bannon managed to get himself arrested again later that same year, making clear that the guy can’t cover his tracks.
Now Bannon has bottomed out even further. The Daily Beast is reporting that Bannon appears to have recently tried to take out a loan against a home that’s connected to a nonprofit organization that’s connected to that same Chinese billionaire, and yet the nonprofit organization no longer even has the home? Wait, that can’t be right. No, it is. Bannon really has become that desperate.
When you’re resorting to trying to take out a loan that allegedly involves mortgage fraud, charitable fraud, and the same guy whose boat you were on during the second-most recent time you were arrested, you’re in an extraordinary hole. Steve Bannon’s whole world is falling apart, or else he wouldn’t be resorting to this kind of desperate risk-taking just to try to keep the lights on. So much for Bannon winning. It’s difficult to lose as badly as this guy has been losing.
Bill Palmer is the publisher of the political news outlet Palmer Report