12-14-25
From the desk of Rich Stephens
News for the week ending 12-13-25
Below find the expanded text from tonight’s broadcast. For corrections or additions, contact Rich directly.
Top Stories
Brown University Mass Shooting
At Brown University in Providence, Rhode Island, yesterday a man entered a classroom where students were reviewing for a final exam. The individual began shooting at students around 4 in the afternoon and then exited the building. This morning Providence Police announced that they have a person of interest in custody and have lifted shelter in place orders that were issued last night. There were 11 victims. As of this morning, one was discharged, 7 are stable, 1 is still listed as critical and unfortunately two did not survive. This story is not complete. Next week’s edition will have more thorough sources.
Bondi Beach Hanukkah Terror Attack
At 6:47 pm local time in Sydney Australia today, two individuals began shooting at a gathering of over 1000 people. The event at Bondi Beach, east of Sydney was to mark the first night of Hanukkah. Officials confirmed that 12 people were fatally wounded with 29 injured taken to local hospitals including 2 police officers. One shooter is in custody and the other is deceased. The shooting was classified as a terrorist act and the New South Wales police department is investigating. These two stories are ongoing and we will bring you updates next week.
New South Wales PD Press Conference
Criticism of the Australia PM’s Initial Statement
Politics
ACA Fraud
House speaker Mike Johnson spoke on Wednesday December 10th about fraud within the Affordable Care Act portal. The Government Accountability Office released a report detailing their effort to create and submit fictitious identities. They used healthcare.gov directly as well as brokers and successfully registered 4 people in 2024 and 19 in 2025. Their applications lacked income verification, proof of citizenship and even fake or missing social security numbers. In all cases, the identities were enrolled and the premium tax credits were paid to the insurance companies. Their report states that fraud protection within the system is weak. Republicans used this as part of their reason for voting against a Democrat effort to extend Covid era expansion of the premium tax credits.
Senate Vote On Health Care Subsidies
Thursday December 11, the senate voted against a pair of bills related to health care. The Democrat proposal included a 3 year extension of Covid era ACA Premium Tax Credits. The Republican bill would have put money into HSA accounts for eligible ACA enrollees. The premium tax credits are paid directly to insurance companies by the government on behalf of the insured. Senate republicans have stated that they would prefer to give that money to the patients rather than the insurance companies. Both sides claim they are trying to lower health care premiums for Americans.
Mamdani Video on ICE
Last weekend, New York City Mayor Elect Zohran Mamdani released a video to YouTube. In the video he said “we can all stand up to ICE if you know your rights”. He then gave advice for interacting with Immigration officers. The video was in English with Spanish subtitles and was cross-posted to social media with the statement that New York is a city for all immigrants.
Florida Budget Proposal
Thursday, December 11, Florida Governor Ron Desantis spoke about the proposed budget for the upcoming fiscal year. His proposed $117B budget maintains Florida’s position as the lowest state government spending per capita across all 50 states. Teachers unions claim that the proposed raise for teachers is inadequate and that the budget does not adequately fund public schools. Democratic lawmakers continue to push back on the governor’s attempts to reduce or completely remove property tax on primary residences.
Ron Desantis Budget Announcement (video)
Florida Education Association Statement
Florida Designates Muslim Brotherhood/CAIR FTOs
On December 8th, Florida Governor Ron Desantis signed an executive order designating the Muslim Brotherhood and CAIR as terrorist organizations. His statement on X indicated that the state legislature is currently crafting similar bills to codify this into law. The Council for American Islamic Relations, known as CAIR threatened a lawsuit and accused the governor of having a “Israel First” agenda. They called him irrelevant and referred to his action as a political stunt. As of today, December 14, they have not filed a lawsuit. The governor indicated that he would welcome a lawsuit as it would grant the state an opportunity for discovery. CAIR has been accused of funding Hamas in FBI documents dating back to 2008, but what is available is heavily redacted.
CAIR Founder Remarks on Oct 7 attacks
Desantis Statement on Legislature
Desantis Statement on Discovery
Desantis Statement on Records Request
Current Events
DOT On Ongoing Non-Domiciled CDL Issues
Friday December 12, Secretary of Transportation Sean Duffy spoke about ongoing efforts to reduce the number of unlawfully issued commercial driver licenses. He claimed that 25% of California’s non-domiciled CDL’s were issued unlawfully and thanked the state for revoking 17,000 licenses. He expressed the necessity for commercial drivers to be proficient in English and stated that a nationwide audit showed that 53% of New York State’s non-domiciled CDL’s were issued unlawfully or illegally. He said that if the state does not come into compliance within thirty days, the DOT will begin pulling federal funding from New York. Unfortunately, while the full press conference was broadcast, there isn’t a complete version on YouTube.
Another Version of Duffy’s Statement
Kilmar Abrego Garcia
Kilmer Abrego Garcia was back in the news this week. Thursday, December 11, a judge ruled that there is no order of removal for Garcia. Because of this, the judge found his detention to be illegal and ordered that he be released. Garcia spoke only in Spanish Friday to thank his family and supporters. The White House called it judicial activism, saying that Garcia is in the United States illegally and that the department of homeland security intends to continue working on his removal.
Venezuelan Tanker Seizure
Wednesday, December 10, the FBI announced the seizure of a sanctioned, Venezuelan oil tanker. Attorney General Pam Bondi indicated that the vessel has been used to support foreign terror organizations. Video shows a helicopter deploying a team onto the deck and taking control of the ship.
Florida Roblox Lawsuit
Attorney General for the state of Florida James Uthmeier announced a lawsuit against the Roblox Corporation this week. Florida joins a growing group of states including Louisiana, Texas and Kentucky who are also suing the company. The suits stem from concern over children’s safety when using the platform. Florida’s suit alleges that Roblox has knowingly facilitated grooming and abuse of children. While we don’t generally take positions at The Cold Take, this issue is highly sensitive.
The videos posted below are extremely disturbing. They describe horrific behavior in detail. As I have stated numerous times, The Cold Take does not generally take political, social or even financial positions. But as a parent, I have been aware of this story for some time. States filing lawsuits lends credence to the story in a way that allows me to speak about it here. I do not recommend watching Ryan Montgomery’s interviews because they outline crimes against children and are upsetting. However, they were the first sources I had of this story.
Ryan Montgomery Interview on Child Predators #1
Ryan Montgomery Interview on Child Predators #2
Video About Arrest of Roblox User (Schlep)
Documentary about Schlep and Roblox
SNAP Healthy Food Waivers
Several states have applied for and been granted waivers to remove some food options from SNAP funding. The department of agriculture and the department of health and human services announced six waivers this week. Virginia and Hawaii will no longer pay for sweetened beverages. South Carolina and North Dakota are excluding energy drinks, soft drinks and sweetened beverages. Tennessee is removing soda, energy drinks, candy and other processed foods.
Department of Agriculture Statement
Finance
Fed Meeting and Rate Cut
Moving to Finance, Wednesday, December 10th, Fed Chair Jerome Powell gave remarks. The Fed lowered rates for the third time this year, bringing the federal funds rate to between 3.5 and 3.75 percent. He noted that federal data is still not available due to the 43 day government shutdown, so this month’s report is still based on private sector data. Housing activity remains weak. Layoffs and hiring remain low, and perceptions of hiring difficulty are declining. Inflation remains somewhat elevated but has eased throughout the year.
Markets
Markets were mixed this week. The Dow Jones Industrial Average climbed 504 points to close at 48,458. The NASDAQ fell 383 points and the S&P500 dropped 43 points. Gold gained 101 dollars and finished trading Friday at $4328 per ounce.
Sports
Sherrone Moore
And in Sports On Thursday, December 11, the University of Michigan announced the firing of head football coach Sherrone Moore one day before. Moore was accused of having an inappropriate relationship with a member of his staff. Following his release, he was arrested at the home of the woman. He is charged with third degree felony breaking and entering, misdemeanor stalking and misdemeanor breaking and entering. If convicted, he could serve as much as 6 years.
Heisman Trophy
The Heisman committee gave weight to an undefeated season when they chose Fernando Mendoza Over Diego Pavia. Mendoza led the Hoosiers to an undefeated season, big ten championship and a number one seed in the upcoming CFP. Pavia had 800 more total yards for Vanderbilt who was left out of the 12 team playoff in favor of Alabama.
Army / Navy
Finally, yesterday was the annual Army Navy football game. President trump was in attendance. Both teams scored touchdowns early before the defenses took over. Army had a 16-10 lead heading into the 4th quarter, but surrendered a touchdown with 6:47 remaining in the game. The final score was Navy 17, army 16.
Rich Stephens
The Cold Take