Story perspectives

McCloskey Creates $1.7B Secret Fund for Jan. 6 Allies

5/18/2026

Summary

Story summary

Attorney Mark McCloskey, who brandished a rifle at BLM protesters, helped craft a $1.7 billion compensation fund for U.S. President Donald Trump’s allies.
The fund would draw from the Treasury Judgment Fund, let President Trump appoint and remove commission members without cause, and keep payouts secret.
More than 1,500 Jan. 6 attackers are eligible, prompting Rep. Jamie Raskin and Sen. Ron Wyden to call the scheme a taxpayer fraud and urge congressional intervention.

History

Historical Context

Congress passed the Emergency Economic Stabilization Act on Oct 3 2008, creating the $700 billion Troubled Asset Relief Program (TARP) under Treasury Secretary Henry Paulson to buy toxic assets and stabilize banks. The program’s opaque allocations later spurred bipartisan demands for transparency, echoed today by Rep. Jamie Raskin and Sen. Ron Wyden over new large-scale compensation proposals.

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Story summary

Attorney Mark McCloskey, who brandished a rifle at BLM protesters, helped craft a $1.7 billion compensation fund for U.S. President Donald Trump’s allies.
The fund would draw from the Treasury Judgment Fund, let President Trump appoint and remove commission members without cause, and keep payouts secret.
More than 1,500 Jan. 6 attackers are eligible, prompting Rep. Jamie Raskin and Sen. Ron Wyden to call the scheme a taxpayer fraud and urge congressional intervention.

1 / 2