'Pure corruption!' Lawmaker erupts over allegations of war insider trading

Rep. Robert Garcia (D-CA) is furious about new reporting that Defense Secretary Pete Hegseth sought out stocks related to defense just ahead of the Iran war, a red flag that he may have committed insider trading, and vowed on MS NOW's "Deadline: White House" that Democratic members of Congress will pursue an investigation.

The administration has already disputed the reporting, saying that Hegseth never reached out to BlackRock for financial information — but, anchor Nicolle Wallace noted, that's not even what the original story from the Financial Times alleged.

"Congressman, if the committee were to proceed and investigate this, the Defense Secretary's own statement is sort of a riddle wrapped in a lie," said Wallace. "The story doesn't allege that any that Pete Hegseth contacted BlackRock. The Financial Times is reporting that Pete Hegseth's broker at Morgan Stanley contacted BlackRock, and an internal alert system was set off by a, quote, 'multi-million dollar investment request for a product that wasn't even available outside of BlackRock.' It feels like something begging to be investigated. Is this on your radar?"

"Well, this is complete corruption," said Garcia. "And not only is it on our radar, in fact, today we are opening an investigation ... and both Morgan Stanley and BlackRock will be receiving letters from myself and the Oversight Committee today, asking a series of questions to preserve documents."

Additionally, he added, they contacted Hegseth, and "w

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