CBS denies ordering Colbert to pull Talarico interview, Mamdani threatens to raise property taxes to fill budget gap, Trump & Wes Moore go at it over massive sewage spill in Potomac River, And More | 2.18.26 - Rising Recap

Podcast: Rising

Published: 2026-02-18

Duration: 50 minutes

Guests: Kevin O'Leary, Teslin Figaro

Summary

The episode covers controversies around CBS's decision on a Colbert interview, a proposed property tax hike in NYC, and a major sewage spill in the Potomac River involving Trump and Wes Moore. It also delves into Trump's overseas business dealings and a discussion on prediction markets.

What Happened

Kevin O'Leary took a strong stance against Teslin Figaro's comparison of the U.S. private prison system to modern-day slavery, citing the 13th Amendment as a point of contention in the debate over prison labor. This sparked a broader discussion on how history, particularly the realities of slavery and the Civil War, should be taught to children in America.

CBS faced scrutiny over claims that it ordered Stephen Colbert to pull an interview with James Tallarico due to FCC's equal time rule concerns. CBS clarified that they only provided legal guidance and did not prohibit the broadcast, leading to the Late Show opting to air the interview on their YouTube channel instead.

New York City Mayor Zoran Mamdani proposed a significant property tax increase of nearly 10% to manage a $5 billion budget shortfall if Governor Kathy Hochul does not implement a statewide wealth tax. His budget also suggests withdrawing substantial funds from the city's reserves, sparking debate over the city's financial management.

Ben Shapiro raised alarms about Trump's financial dealings, alleging a $4 billion enrichment through various overseas ventures since taking office. The discussion highlighted Trump's licensing deals and digital coin ventures as major financial gainers, alongside a fast-tracked golf project in Vietnam.

A massive sewage spill in the Potomac River, estimated at 240 million gallons, ignited a clash between President Trump and Maryland Governor Wes Moore. Accusations of mismanagement were exchanged, with Moore blaming federal oversight and Trump pointing fingers at state-level failures.

The Commodity Futures Trading Commission (CFTC) is embroiled in a legal battle defending prediction markets against state regulations. Chris Christie criticized the CFTC's actions as a violation of states' rights, while others argued the markets resemble gambling and should be regulated as such.

Key Insights

• Kevin O'Leary challenged Teslin Figaro's likening of the U.S. private prison system to modern-day slavery, citing the 13th Amendment's allowance for prison labor. This ignited debate on how American history, including slavery's realities, should be taught to children.
• CBS clarified it did not censor Stephen Colbert's interview with James Tallarico over FCC's equal time rule concerns, merely offering legal advice. The Late Show sidestepped potential issues by airing the interview on YouTube instead, highlighting new media's role in bypassing traditional broadcast limitations.
• Faced with a $5 billion budget shortfall, NYC Mayor Zoran Mamdani proposed a nearly 10% property tax hike as leverage against the state for a wealth tax. His plan to draw heavily from city reserves underscores the tension between local and state financial strategies.
• A massive 240 million-gallon sewage spill in the Potomac River led to a blame game between President Trump and Maryland Governor Wes Moore. While Moore accused federal oversight of failure, Trump pointed to state-level mismanagement, revealing the complexities of environmental accountability.

Key Questions Answered

What was CBS's stance on the Colbert interview with James Tallarico?

CBS denied ordering the removal of the interview and clarified that their legal team only provided guidance on the FCC's equal time rule. The decision to air the interview on YouTube was made by the Late Show itself.

How does Mamdani plan to address New York City's budget gap?

Mayor Zoran Mamdani proposed a 9.5% property tax increase and withdrawing nearly $1.2 billion from city reserves if a statewide wealth tax is not enacted by Governor Kathy Hochul.

What are the allegations regarding Trump's business dealings?

Trump is accused of profiting significantly from overseas ventures, with alleged enrichment of up to $4 billion since taking office, involving licensing deals and digital coin ventures.