Devin Nunes Has Meltdown On Live TV As Truth Social Funding Dries Up

Truth Social CEO Devin Nunes had a bit of a meltdown during a segment on Fox Business this week when he began whining about the SEC investigation into the company he was put in charge of. The investigation has prevented Trump's company from raising money, and Nunes seemed like he was about to boil over when talking about how hard it is and that he didn't even need to take the job in the first place. Farron Cousins explains what happened and why Nunes is REALLY so upset.

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*This transcript was auto-generated. Please excuse any typos.

Devin Nunez, the c e o of Truth social. Donald Trump's social media company went on Fox business this week to kind of set the record straight with host Maria Bartiromo. But, uh, then he also had a bit of a meltdown cuz apparently Devin Nunez is sad and angry that he took a job that as he says, I'll show you the clip in a minute, but he says, I didn't even need this job, but I did it anyway cuz we're Republicans, they were supposed to. And, uh, then wines about basically true social running out of money because, you know, that mean old Biden administration is tying up their funding, which isn't a thing that's happening. But either way, I don't want to give too much away. Here is Devin Nunez having his full blown meltdown because he made a very poor career choice. Take a look

Now, look, there's a pending, uh, case in the Ninth Circuit Court of appeals against these social media giants. But in the meantime, remember President Trump didn't need a new company. I didn't need a new job. We were told, Hey, you gotta go out and you guys are republicans, you're conservatives. Why don't you guys just go out and create your own company? What does it matter? These are private companies. If, if Twitter and, and Instagram and Facebook, if they don't want Donald Trump or any other of American screw you, we can just kick you off and you guys can go create your own company. Well, that's what President Trump did. And I'll tell you the scandal here that's not being talked about, that they refuse to talk about is, is that, you know, we are a privately a private company. We've merged with a spac we're trying to merge, uh, which is a finance company, a financing mechanism. Right now, the Secur, the Securities and Exchange Commission, their job is to protect shareholders. Their job is to help in capital formation. Now, here we are a startup, and just because it's President Trump, president Trump's involved here we are sitting here with no, with no capital from the, from the public markets because the s e c run by Biden will not do it.

It's not fair that the s e c is investigating us for possible criminal activity. And because of that, we can't get the funding, we can't seal the deal with digital world acquisition. Yeah, I mean, instead of being mad that it's being investigated, maybe don't break the law. And I know obviously we have to wait for the results of the investigation. I'm not saying they broke the law right now, they're innocent until proven guilty a hundred percent. Don't get me wrong. Um, but what I am saying is that avoid the appearance of criminality, right? Can you not even do that? Because that seems to be the biggest problem. Like whether you did or didn't. Okay? We'll find that out at the end of the investigation, but y'all can't even make it look like you're doing things by the book. So yeah, I'd say that's a problem of appearances for truth social itself.

And of course what the s e C is investigating them for is potential illegal collusion prior to the announcement of the merger and the raising of the funds. And it is all very technical and complicated, but basically the way the SPAC Companies special acquisition company works is that they get a bunch of people, they put all their money into the pot and form a company with that money, and then that company with that money, after all the money is in, and the deal is like, you know, secured there, then they say, okay, our acquisition target is blank. You cannot talk with the acquisition target beforehand. You cannot let investors know that you have a target in mind beforehand. All again, weird finance business stuff that, you know, difficult to really fully comprehend. But there is, um, accusations that people at Digital World, before they got the money in, were talking with Trump and other people at Truth Social about potentially acquiring them.

Investors may have been tipped off, which is illegal. So that's what they're being investigated for. We'll see what happens when the investigation comes to a halt. And obviously until the investigation finishes, they cannot finalize the deal.