February 13, 2026: Partial Lockout Beckons, Goldman CEO Rattles Bank, More
episodePreviously titled “Partial Lockout Beckons, Goldman CEO Rattles Bank, More” — renamed by the publisher on Aug 2, 2026
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News when you want it with Bloomberg News Now. I'm Ed Kalecki. The White House has ordered the Department of Homeland Security to begin shutdown procedures as its funding from Congress expires at midnight. The third time parts of the U.S. government will have shut down in the last six months. The shutdown will affect DHS functions other than immigration and border enforcement, which are broadly covered through multi-year funding from the tax and spending bill passed by Congress last July. Other security-sensitive jobs will also be deemed essential if and those employees will report to work without pay. While the shutdown formally takes effect at midnight, DHS employees were instructed to report to work and begin an orderly shutdown on their next regularly scheduled shift, which for most workers will be Tuesday following the observation of President's Day on Monday.
House Minority Leader Hakeem Jeffrey says Democrats will respond to the White House's unserious Homeland Security funding offer, with funding for the agency almost certain to expire tonight at midnight. Jeffrey's also stressed he's ready to talk.
I'm here, ready, willing, and able to have a conversation with anyone, anytime, anyplace. That's always been the Democratic posture, Mike Johnson has once again sent House Republicans home.
Congressional Democrats previously called for a set of reforms to immigration enforcement, including judicial warrant requirements in exchange for their votes to fund the Department of Homeland Security. The White House and Democrats remain at loggerheads with no agreement yet on funding for the agency. which includes the TSA and FEMA. Kathy Rumler is leaving her position as Goldman Sachs' top lawyer, drawing to a close a months-long saga that saw the investment bank staunchly defend Rumler over her previous association with Jeffrey Epstein. Goldman CEO David Solomon talked about it on CNBC.
She called me yesterday afternoon and told me that the press coverage of the work that she had done previously of this whole situation had just gotten to a level of noise and distraction that she thought it was distracting the firm. It was putting her in a position where it was hard for her to execute on her job and her responsibilities, and she just thought it was time to step away. And so you saw our statement and her statement. I reluctantly accepted her resignation.
For weeks, Goldman had faced a steady drumbeat of headlines as the public has poured over the millions of pages of documents that have been released by the Department of Justice, which mention Rumler's name thousands of times. Together, they shined a light on years of interactions between her and the late pedophile, during which she accepted tens of thousands of dollars in gifts from him and used affectionate nicknames like Uncle Jeffrey and Sweetie. Amazon shares posted their longest streak of daily losses in almost 20 years as investors continue to question how much the e-commerce and cloud computing company spends on capital expenditures. Shares fell 0.4% Friday, their ninth straight negative session.
This is the longest losing streak for the stock since another nine-day drop that ended in July 2006.
How is the U.S. government shutdown impacting the Department of Homeland Security?
The stock shed 18% over the latest stretch, erasing about $463 billion in market valuation. Shares closed at their lowest since May. A bipartisan group of U.S. senators is attending the Munich Security Conference, and Democrat Alyssa Slotkin tells Bloomberg what she's hearing from European counterparts.
The minute they get you in the room and close the door, they're just like, what is going on in America? Not believing it themselves. I try to explain it. The American public does not want an authoritarian leader.
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