Steve Bannon's Financial Troubles Finally Catch Up To Him

Steve Bannon has had a really bad week, financially speaking. Not only has his "FJB" cryptocurrency lost 95% of its value, but he was also sued for nearly half a million dollars by his lawyers for failing to pay his legal bills. Bannon is still facing trial over his involvement in the "We Build The Wall" scandal, and if he is having financial troubles now it could be very difficult to afford quality lawyers in the future. Ring of Fire's Farron Cousins explains what's happening.

Check out our merch by visiting our store

Subscribe to our podcast

Become a member today!

Support us by becoming a monthly patron on Patreon, and help keep progressive media alive!

Spread the word! LIKE and SHARE this video or leave a comment to help direct attention to the stories that matter. And SUBSCRIBE to stay connected with Ring of Fire's video content!

Support Ring of Fire by subscribing to our YouTube channel

Be sociable! Follow us on:

*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Financially speaking, this has been an exceptionally bad week for right wing provocateur, Steve Bannon. First let's start with the, the real bad news. The Fj b cryptocurrency, which I'm sure you can figure out stands for. F Joe Biden. It was a cryptocurrency launched about 13 months ago by Steve Bannon and Boris Epstein. According to a report from a b, c News this week, the Bannon FJ B cryptocurrency in just the last 13 months has lost 95% of its value. So that's a pretty big financial hit to anyone who bought into the Fj b coin as well. Of course, for Steve Bannon who created it, co-created it. I I, I'm sure you probably lost a lot of money on that, which might explain this second story of Bannon's financial problems because this week his own attorneys had to file a lawsuit against him for, uh, $480,000 cuz he hasn't paid his legal bills.

He's paid some of 'em. I think he paid about 375,000, but he owed 'em over 800,000 representing him for various things, including defying a subpoena. And the, uh, we build the wall scam that he's now under investigation for facing trial in the state of New York. He was pardoned on the federal level, but the state of New York is still able to go after him for the, uh, fraud that took place in their state. And he cannot be pardoned for that. So he's facing a lot of problems, but his lawyers are telling him, look, dude, you haven't paid us. We now have to hire lawyers to sue you because we need our money. It was part of your retainer agreement. So for somebody facing trial that could stick him behind bars for several years, not paying your legal team, that so far has done a pretty good job for you.

Um, that's pretty dumb. But again, maybe it's not because Bannon's just being stupid and greedy. Maybe it's because Bannon legit doesn't have the money. I mean, if your cryptocurrency that you started lost 95% of its value in the last year, you'd probably be struggling to pay your bills too. Oh, and by the way, even though of course it has lost 95% of its value, it still has turned a little bit of a profit for them. Um, and they had promised Bannon and Epstein, they had promised they were gonna donate all the money to the Wounded Warriors Project. And according to the Wounded War Warriors Project, they haven't donated any money to them. So yeah, that's, that's also kind of shady, man. Like, why would you not give them anything? Is it because maybe there was no profit, you know, after the initial release and then the drop? Because you would think after the initial release when you

Did, did make a little bit of money, you would've immediately donated it. But apparently you sat on the money and now you lost it all because the value's gone. I mean, you know, that, that seems kind of bad. You're supposed to donate the money as you get it, but, you know, I guess, I guess it's better for you that you didn't. But either way, Steve Bannon's financial problems are catching up to him, and if he can't pay those lawyers, then I gotta tell you, it's gonna be very hard to put together a solid defense for that trial that he is facing very soon.