MxM News

FBI Deputy Director Dan Bongino confirmed Wednesday that he will leave the bureau in January, putting an end to days of speculation about his future inside the agency and signaling a short tenure that was always viewed as transitional. Bongino announced his departure in a post on X, thanking President Trump, Attorney General Pam Bondi, and FBI Director Kash Patel for what he described as “the opportunity to serve with purpose.” “I will be leaving my position with the FBI in January,” Bongino wrote, adding that he was grateful “most importantly” to the American people “for the privilege to serve you.” He closed the message with a patriotic sendoff: “God bless America, and all those who defend Her.”

The announcement followed reporting that Bongino had already begun quietly preparing his exit. According to multiple people familiar with the situation, Bongino told confidants he planned to formally step down early in the new year and would not be returning to FBI headquarters this month. Several sources said he had informed members of his team and senior bureau officials of a tentative plan to go public with his decision in mid-December, and that some of his personal belongings had already been cleared from his office as of last week.

Bongino’s move did not appear to catch the White House off guard. Prior to the public confirmation, President Trump was asked about reports of Bongino’s departure and offered warm praise, telling reporters that Bongino “did a great job” at the FBI and suggesting he may want to return to broadcasting, where he built a large national following before entering government service. Bongino, a former Secret Service agent and longtime conservative commentator, joined the FBI leadership team as part of Trump’s broader effort to reshape federal law enforcement leadership, a mission that allies say will continue under Patel and Bondi even after Bongino’s exit early next year.

From the Daily Caller News Foundation

By David Blackmon

I’ve written frequently here in recent years about the financial fiasco that has hit Ford Motor Company and other big U.S. carmakers who made the fateful decision to go in whole hog in 2021 to feed at the federal subsidy trough wrought on the U.S. economy by the Joe Biden autopen presidency. It was crony capitalism writ large, federal rent seeking on the grandest scale in U.S. history, and only now are the chickens coming home to roost.

Ford announced on Monday that it will be forced to take $19.5 billion in special charges as its management team embarks on a corporate reorganization in a desperate attempt to unwind the financial carnage caused by its failed strategies and investments in the electric vehicles space since 2022.

Cancelled is the Ford F-150 Lightning, the full-size electric pickup that few could afford and fewer wanted to buy, along with planned introductions of a second pricey pickup and fully electric vans and commercial vehicles. Ford will apparently keep making its costly Mustang Mach-E EV while adjusting the car’s features and price to try to make it more competitive. There will be a shift to making more hybrid models and introducing new lines of cheaper EVs and what the company calls “extended range electric vehicles,” or EREVs, which attach a gas-fueled generator to recharge the EV batteries while the car is being driven.

“The $50k, $60k, $70k EVs just weren’t selling; We’re following customers to where the market is,” Farley said. “We’re going to build up our whole lineup of hybrids. It’s gonna be better for the company’s profitability, shareholders and a lot of new American jobs. These really expensive $70k electric trucks, as much as I love the product, they didn’t make sense. But an EREV that goes 700 miles on a tank of gas, for 90% of the time is all-electric, that EREV is a better solution for a Lightning than the current all-electric Lightning.”

It all makes sense to Mr. Farley, but one wonders how much longer the company’s investors will tolerate his presence atop the corporate management pyramid if the company’s financial fortunes don’t turn around fast.

To Ford’s and Farley’s credit, the company has, unlike some of its competitors (GM, for example), been quite transparent in publicly revealing the massive losses it has accumulated in its EV projects since 2022. The company has reported its EV enterprise as a separate business unit called Model-E on its financial filings, enabling everyone to witness its somewhat amazing escalating EV-related losses since 2022:

• 2022 – Net loss of $2.2 billion

• 2023 – Net loss of $4.7 billion

• 2024 – Net loss of $5.1 billion

Add in the company’s $3.6 billion in losses recorded across the first three quarters of 2025, and you arrive at a total of $15.6 billion net losses on EV-related projects and processes in less than four calendar years. Add to that the financial carnage detailed in Monday’s announcement and the damage from the company’s financial electric boogaloo escalates to well above $30 billion with Q4 2025’s damage still to be added to the total.

Ford and Farley have benefited from the fact that the company’s lineup of gas-and-diesel powered cars have remained strongly profitable, resulting in overall corporate profits each year despite the huge EV-related losses. It is also fair to point out that all car companies were under heavy pressure from the Biden government to either produce battery electric vehicles or be penalized by onerous federal regulations.

Now, with the Trump administration rescinding Biden’s harsh mandates and canceling the absurdly unattainable fleet mileage requirements, Ford and other companies will be free to make cars Americans actually want to buy. Better late than never, as they say, but the financial fallout from it all is likely just beginning to be made public.

• David Blackmon is an energy writer and consultant based in Texas. He spent 40 years in the oil and gas business, where he specialized in public policy and communications.