At a press conference on Wednesday, Labor Secretary Alex Acosta told reporters that new sex crime charges against hedge fund manager Jeffrey Epstein were a "very, very good thing" and defended the manner in which his office had handled a case against the financier back in 2008.
He also showed no signs of relenting to Democrats' calls for his resignation.
Outrage has been growing, since the Miami Herald recently resurfaced the sweetheart, non-prosecution deal Epstein received when Acosta was a U.S. attorney in Miami.
In 2008, Epstein had been accused of abusing dozens of women and girls, but ultimately pled guilty to prostitution charges. Thanks to the deal, instead of facing a possible life sentence, he served just 13 months of an 18 month sentence in a county jail, during which he was allowed to leave for work.
Epstein was arrested again in New Jersey last weekend and pleaded not guilty Monday to new child sex-trafficking charges for allegations dating back to the early 2000's.
"They've brought these charges based on new evidence against Jeffrey Epstein, who is now a registered sex offender. And this is a very very good thing. His acts are discpable," said Acosta Wednesday. "Epstein's actions absolutely deserve a stricter sentence."
As to the original case, Acosta said it was not clear that the original case would have succeeded at trial because some of the victims were reluctant to testify. "The acts that they had faced were horrible, and they didn't want people to know about them."
The labor secretary said he would release documents that reveal more context of the case.
The chair of the House Oversight Committee has called for Acosta to testify on the subject later this month.
During the press conference, the labor secretary defended his standing in Trump's administration.
"My relationship with the President is outstanding," said Acosta. He also eschewed reports that he had lost the support of the Office of Management and Budget director Mick Mulvaney.
In February, Senator Jeff Merkley (D-Ore.) and Representative Jamaal Bowman (D-N.Y. 16th District) introduced the Fair College Admissions for Students Act. The bill looks to curb the admissions advantage given to the children of alumni and donors for colleges and universities. Sen. Merkley joined Cheddar news to discuss the push behind the legislation. "My dad was a mechanic. I was applying to schools around the country. I never thought about the fact that those students who came from the most privileged backgrounds also got a special advantage in applying to college," he said. "They take up 10-25 percent of the slots at many of our universities, and so this is kind of affirmative action for those who need it least rather than a level playing field for everyone else." If enacted, the law would amend the Higher Education Act of 1965 doing away with legacy or donor status admissions for any school participating in the federal student aid program.
Nancy Daoud, a private wealth adviser for Ameriprise Financial, joins Cheddar News' Closing Bell, where she discusses what led to a sharp spike on Wall Street during Tuesday's session and what she will be watching for most closely when the Fed announces it latest policy decision on Wednesday.
Russia's economy is effectively at a standstill after it was slapped with extensive western sanctions, and now it has to make the first of four monthly interest payments on dollar bonds. It's likely the country will not be able to pay — so what happens next? Major credit ratings agencies have downgraded Russian sovereign debt, with Fitch issuing a 'C' rating and S&P Global Ratings issuing a 'CCC-' rating. Caleb Silver, Editor in Chief of Investopedia, joins Closing Bell to discuss what a Russian debt default could mean for Russia's economy, U.S. consumers who have pensions with exposure to Russian assets, and whether this could create a global financial crisis.
With the number of Ukrainians being displaced due to the Russian invasion surging, two students from Harvard took it on themselves to develop a website to help connect potential hosts with refugees seeking housing. The co-founder of the website Ukraine Takes Shelter, Marco Burstein, joined Cheddar news to discuss working together with fellow freshman Avi Schiffmann to streamline the effort to aid Ukrainian refugees. "We basically worked for three days straight developing the website, and since then the response has been pretty incredible," Burstein said.
Over three weeks ago, WNBA player Brittney Griner was arrested in Russia on drug charges. According to reports, the Star arrived at an airport near Moscow where authorities found Vape cartridges and hashish oil in her luggage. Grindr faces serious charges that could carry a possible sentence of 5-10 years in a Russian prison. Experts warn that Griner's arrest could be used as a bargaining chip. Partner at Stroock & Stroock & Lavan, Thomas Firestone, joined Cheddar to discuss more.
On a live broadcast, an employee on a Russian state news television channel held up a sign protesting propaganda about the war in Ukraine. Ruslan Deynychenko, executive director of the Ukrainian fact-checking organization StopFake, joined Cheddar News to discuss what he called the misinformation spread to the Russian people about the invasion. "They are not about informing people they are about brainwashing people," he said. "Russian government uses their media as an instrument, as a tool, of their foreign policy."
Student loan payments for millions of borrowers are set to resume on May 1st. However, signals from the Department of Education show that the date may be pushed back. Once again, it's been pushed back a few times. Initially, the Biden Administration stated loan payments would resume as the economy continues to show signs of recovery. Student Loan Expert and Author of "How to Appeal for More College Financial Aid", Mark Kantrowitz, joined Cheddar to discuss more.
