Over the next decade, an estimated $75 trillion is needed to modernize U.S. industries.

Apollo is stepping up with investments to power infrastructure, energy, and technology for America's next chapter.

Visit apollo.com slash GIR to learn more.

Presented by Apollo Global Management.

Thank you. to learn more. Presented by Apollo Global Management.

Good morning.

I'm Anna Palmer and welcome to The Daily Punch,

bought to you by Punch Bowl News.

It's Wednesday, November 26th, 2025.

A quick programming note, this will be our last podcast of the week because of the Thanksgiving holiday.

We, of course, are thankful for all of you for listening to the podcast and hopefully sharing it with your friends and family this week.

All right, let's get into the mix. Here are your Washington headlines at the day. Number one, what the Trump administration's investigations into several Democratic lawmakers after an X video means.

Number two, we've got the punch power matrix. And number three, the latest from the vault. Our financial services policy reporters have the latest on the NDA talks.

All right, let's get into it. One of the big stories of the week,

of course, has been the fact that President Donald Trump and members of his administration

are launching an investigation into Democratic lawmakers for a critical video posted on X.

The video posted on November 18th featured Democratic lawmakers with

national security backgrounds telling service members that they shouldn't feel compelled to comply

with illegal orders. Service members must follow lawful orders under the Uniform Code of Military

Justice. Now, this is precisely the kind of Democratic video clip we've come to

expect during the Trump era. Of course, veterans, former intelligence officials and others in the

defense space are taken a whack here at the president in a manner that questions his fidelity

...