Political speech, timestamped and in context

Elizabeth Warren: “No. 7. $70 million. So we're not talking about chump change here on this investment.”

Featuring: Elizabeth Warren, Democratic | U.S. Senate, Massachusetts

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Published October 1, 2026

Thank you. Do you know how much they invested in this project? Actually, I do not know. Mr. Rigas, do you know how much they invested in this project? No. No. 7. $70 million. So we're not talking about chump change here on this investment. Mr. Rigas, you say you want to join the ex IM bank to help American businesses grow and compete. (05:13–44:16)

STATEMENT

Asserts that President Trump's sons and partners invested $70 million in the Kazakhstan mining project.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

See the main statements from Elizabeth Warren in this video

“Typical families are now spending over $1,100 more than they were spending on groceries and housing before Donald Trump was sworn in.”
Asserts that typical families' expenses on groceries and housing have increased by over $1,100 since Trump took office.05:37-05:48
“Trump promised his war with Iran would last four to six weeks.”
Asserts that Trump claimed the conflict with Iran would be brief, lasting four to six weeks.05:48-05:54
“The average family has spent nearly $700 more on gasoline just since Trump started this war.”
Asserts that average families have spent nearly $700 more on gasoline since the conflict with Iran began.05:58-06:09
“Mortgage rates are now over 7%, up a full percentage point since Donald Trump started his war.”
Asserts that mortgage rates have increased by a full percentage point since the conflict with Iran began.06:09-06:17
“The President of Kazakhstan privately told President Trump in September 2025 that an American company would be granted the right to develop a massive tungsten mine, a deal that the Trump administration helped negotiate.”
Asserts that President Trump was involved in negotiating a deal for an American company to develop a tungsten mine in Kazakhstan.07:49-08:07
“This mining project is expected to seek $2 billion of federal loans, nearly half from Ex Im.”
Asserts that the Kazakhstan mining project is seeking $2 billion in federal loans, with nearly half from the Export-Import Bank.08:31-08:41
“Earlier this year, public reports revealed that President Trump's sons had invested in a company seeking $900 million in Ex Im financing for a mining operation in Kazakhstan.”
Asserts that President Trump's sons invested in a company seeking $900 million from Ex Im for a Kazakhstan mining project.43:16-43:32
“Senators have a constitutional responsibility to provide advice and consent on executive branch nominations, and many of them can't do that today.”
Asserts that senators are unable to fulfill their constitutional duty due to the current circumstances.04:27-04:37
“Committees almost never hold nomination hearings when the Senate has adjourned for recess.”
Asserts that it is uncommon for committees to hold nomination hearings during a Senate recess.04:44-04:50
“Trump's chaotic tariffs have raised costs on everything from groceries to housing.”
Asserts that tariffs under Trump have increased costs for groceries and housing.05:31-05:37
“Seven months later, diesel and gasoline prices are surging.”
Asserts that diesel and gasoline prices have increased seven months after the conflict with Iran began.05:54-05:59
“Real wages have fallen by 0.7% since Trump's war in Iran began.”
Asserts that real wages have decreased by 0.7% since the conflict with Iran began.06:26-06:34
“American families are suffering as a direct result of the decisions of Donald Trump.”
Asserts that American families are negatively impacted by Trump's decisions.06:34-06:40
“The small businesses and big manufacturers that use Ex IM are hurting from the President's war and from the President's tariffs, which have raised the cost of materials while record diesel prices drive up the cost of shipping.”
Asserts that President Trump's tariffs and policies are harming small businesses and manufacturers by increasing costs.07:02-07:19
“There's broad bipartisan support for an Ex IM reauthorization.”
Asserts that there is bipartisan support for reauthorizing the Export-Import Bank.07:27-07:33
“The deep corruption that runs through President Trump's administration is now making its way to [Ex IM].”
Asserts that corruption in President Trump's administration is affecting the Export-Import Bank.07:33-07:41
“President Trump has refused to nominate any Democrats to the Ex IM board, leaving two seats empty.”
Asserts that President Trump has not nominated Democrats to the Export-Import Bank board, leaving vacancies.09:03-09:12
“He fired Ex im's independent inspector general last fall.”
Asserts that President Trump fired the Export-Import Bank's independent inspector general.09:11-09:16
“The Joint Economic Council indicates [Trump's tariffs] have already cost American families more than $1,700 per family.”
Asserts that Trump's tariffs have cost American families over $1,700 each, according to the Joint Economic Council.10:04-10:15
“Bill Pulte is unlawfully shutting down the work of the Inspector General responsible for investigating misconduct at the Federal Housing Finance Agency.”
Asserts that Bill Pulte is unlawfully shutting down the Inspector General's work at the FHFA.10:40-11:01
“We will be forced to reduce staffing by approximately 70 to 80% in FY 2027, which will result in the discontinuance of essentially all criminal investigations conducted by our Office of Investigations.”
Asserts that staffing cuts will lead to the discontinuance of criminal investigations by the FHFA's Office of Investigations.11:21-11:41
“Funding at the $20 million level will eliminate our capacity to effectively conduct criminal investigation of mortgage, bank and other fraud schemes involving the entities FHFA regulates.”
Asserts that funding cuts will eliminate the FHFA's capacity to conduct investigations into fraud schemes.11:42-11:59
“These cuts will mean more fraud in the mortgage market, more cheating of families, higher costs for people trying to buy a home.”
Asserts that cuts to the FHFA will lead to increased fraud and higher costs in the mortgage market.12:18-12:29
“Bill Pulte can dismantle a watchdog that would hold him accountable for his misconduct, weaponizing the FHFA to persecute President Trump's perceived political enemies.”
Asserts that Bill Pulte is dismantling the FHFA watchdog to avoid accountability and target Trump's political enemies.12:32-12:48
“Rubber stamping Donald Trump's chaotic and corrupt policies.”
Asserts that Donald Trump's policies are chaotic and corrupt, and are being approved without proper scrutiny.14:08-14:13
“Last year, Ex Im authorized almost $9 billion in direct loans, loan guarantees and insurance to help support U.S. exports.”
Asserts that Ex Im authorized nearly $9 billion in financial support for U.S. exports last year.42:44-42:55
“When Congress reauthorizes the Ex Im bank, we can use that financial support to reduce our reliance on China for critical supply chains.”
Asserts that reauthorizing the Ex Im bank can help reduce U.S. reliance on China for critical supply chains.42:54-43:04
“EX IM also helps small businesses in the United States grow and compete.”
Asserts that Ex Im assists U.S. small businesses in growth and competition.43:03-43:09
“Ex Im sent the company a letter signaling preliminary interest in financing the project.”
Asserts that Ex Im sent a letter of preliminary interest for financing the Kazakhstan mining project.43:32-43:38
“Let me tell you the answer there. The answer is no. I know you don't want to have to say that, but the answer is no.”
Asserts that there are no ethics rules preventing the President or his family from profiting from an Ex Im loan.47:10-47:16