Bannon, Trump's chief strategist, and Kushner, Trump's adviser and son-in-law, met at the urging of Reince Priebus, the White House chief of staff, who asked them to set aside their disagreements and focus on pursuing the president's agenda, a senior administration official said on the condition of anonymity. To minimize potential conflicts of interest in the future, Ms. Trump had transferred her brand's assets into a trust taken care by her brother-in-law, Josh Kushner, and sister-in-law, Nicole Meyer.
Less than 100 days into Trump's young, chaotic presidency, the White House is splintering over policy issues ranging from tax reform to trade.
The White House narrative about Bannon's demotion, communicated in a statement from him and via background conversations he had with several reporters, is that he only temporarily held the post to monitor Flynn. The Trump White House has pushed back against any stories regarding the unrest between the two top aides, calling them distractions.
The White House strongly denied reports Friday that Trump is considering major changes to his senior White House staff amid clashes among top aides.
"Wait a second, Steve Bannon, you threatened to quit if you got kicked off the National Security Council, then, you got kicked off and you didn't quit", said the host.
Another Twitter account offered a more aggressive solution on Bannon and Kushner: "They're both unqualified hired by someone who's unqualified".
Las Vegas sports gambler Walters convicted of insider trading
He has pleaded guilty to insider trading charges and is likely to receive leniency at sentencing as a result of his testimony. Davis, who was Walters's friend, business partner and golfing pal of more than 20 years, was the government's star witness.
One of the names being floated to replace Priebus: Gary Cohn, of course, the former Goldman president turned National Economic Council chairman turned Kushner ally whom Bannon's allies disdain as one of the "Democrats" from NY.
In the White House regulatory filing, Bannon's role is no longer included in the principals committee, and the Joint Chiefs chair and the DNI are again regular attendees.
Colbert said he "wasn't surprised" because there was "known friction" between the two.
House Majority Leader Kevin McCarthy (R-Calif.) is reportedly in the running.
Bannon's side blames Kushner and his allies for trying to moderate Trump and move him away from some of his populist campaign promises. If that were the case, The Times reports that would constitute a felony and the punishment could be up to five years in prison or fines.