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Speaker 1: Live from our nations. How do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers. What

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Speaker 1: does this do for the United States relationship with China?

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Speaker 1: Bloomberg Sound On the insidings, the influencers, the insides. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. We're looking at seventy Kennedys for different vactines.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: Surrelate on Bloomberg and one oh five point seven f

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Speaker 1: m h D two Stocks fall a stimulus hopes fade,

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Speaker 1: Banks slum on their quarterly earnings. Meanwhile, President Trump continues

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Speaker 1: to press for more dirt to use against Biden, and

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Speaker 1: Barrett pressed on a host of different issues. A complete

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Speaker 1: hearing update from Capitol Hill. We have so much to

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Speaker 1: get there today Capitol Hill Hearings with jud Jamie Coney,

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Speaker 1: Barrett bankcard of the earnings reports, and then of course

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Speaker 1: you've got the campaign trail We're gonna begin tonight with

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Speaker 1: Because my good friend and colleague Wendy Benjamin Sion, who's

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Speaker 1: Bloomberg Politics editor is on the line. Wendy, here we

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Speaker 1: go nineteen days and some hours until election day. They're

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Speaker 1: both back on the campaign trail. Three. Then we have

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Speaker 1: to figure out who the president. Oh, Wendy, come on,

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Speaker 1: you're such a pessimist. I'm an optimist, Wendy, come on.

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Speaker 1: They kept beat it out of me five years. Um,

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Speaker 1: what's on your what's the big story today on the

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Speaker 1: campaign trail? Before before we talk PARISA holdings? Oh yeah,

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Speaker 1: because I yes. Um, probably the big story today is

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Speaker 1: is these weird town halls that are going to happen

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Speaker 1: tomorrow night at the same time on two different networks

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Speaker 1: with two different candidates. Um, you know, if you can't

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Speaker 1: do why didn't they just have it remotely? They're they're

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Speaker 1: doing the same thing in the in different room. It's

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Speaker 1: gonna be truly. What are the expectations, Well, the expectations

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Speaker 1: are smaller audiences for both and it will probably be

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Speaker 1: Trump supporters except for journalists of course. Trump supporters watching

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Speaker 1: trump'stown hall and Biden supporters watching Bidenstown hall. And you know,

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Speaker 1: not a single vote will be changed. When I talked

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Speaker 1: to folks on the president's re election campaign, they say

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Speaker 1: that this is just they're they're going all in on

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Speaker 1: a turn out election. I mean, that's really the only

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Speaker 1: path that they see at this point. Are there any

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Speaker 1: glimmers of hope because the polls just look so ugly

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Speaker 1: for President Trump? Um, you know, after I'm never going

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Speaker 1: to say never um, as I said before, but you know,

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Speaker 1: Florida's tight, Ohio's tight, Georgia is tight. Um, And if

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Speaker 1: the President can pull out Florida and maybe Ohio, then

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Speaker 1: he might have a shot at the bad reelection. Um.

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Speaker 1: But it's just, you know, it's so hard to tell.

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Speaker 1: I'm so scared to call it. Of course. Of course,

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Speaker 1: that's why Wendy Benjaminon is the best. She's the when

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Speaker 1: we're politics editor, she's about us and we're breaking down

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Speaker 1: all of the different apparatus. Is so, okay, we got

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Speaker 1: the town hall tomorrow, then we go to the next

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Speaker 1: week where there's the final debate in Nashville, and just

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Speaker 1: an update that's still planned that's still gonna happen as

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Speaker 1: of this moment. Yeah, And I guess that's really the

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Speaker 1: last opportunity, folks, for President Trump to really draw a

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Speaker 1: contrast with Joe Biden on the stage and again I'm

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Speaker 1: not sure they even view this view the debates is

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Speaker 1: helping them. And and I think to too many in

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Speaker 1: the president, well the last one in at all exactly.

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Speaker 1: And so I almost this break has been helpful for

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Speaker 1: the president. You could argue, yes, it probably is. In

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Speaker 1: the town hall format, where you know President Trump, whether

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Speaker 1: you're going to vote for him or not, can can

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Speaker 1: be kind of funny and I guess personal, and and

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Speaker 1: you know, in the town hall format he'll talk to

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Speaker 1: people and you know, my the Hill went over a

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Speaker 1: voter to Joe Biden is much better in that format.

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Speaker 1: He's a natural people person. He's you know, uh, he's

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Speaker 1: very disciplined in what he says. He if you ask

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Speaker 1: him a healthcare question, you're going to get the same

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Speaker 1: answer in Miami that you're gonna get Nashville, that you're

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Speaker 1: going to get in Ohio, that you're gonna get anywhere else.

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Speaker 1: So you know, in that sense, that is more comforting

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Speaker 1: to voters. Okay. And then the other big development that

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Speaker 1: happened today was these Hunter Biden emails reported by the

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Speaker 1: New York Post. What do we know about? That? Was

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Speaker 1: on the front page of the New York Post. Biden's

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Speaker 1: secret emails, and it says, reading from the Post quote,

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Speaker 1: Hunter Biden introduced his father, then Vice President Joe Biden

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Speaker 1: to a top executive at a Ukrainian energy firm less

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Speaker 1: than a year before the elder Biden pressure the government

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Speaker 1: officials in Ukraine into a firing a prosecutor who was

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Speaker 1: investigating the company. According to emails obtained by the Post,

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Speaker 1: what does the Biden campaign saying about that? What Biden

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Speaker 1: campaign says that meeting ever happened. But let's talk for

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Speaker 1: a minute, Kevin, about what we don't know from that story. Well,

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Speaker 1: we don't know is that the laptop ever belonged to

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Speaker 1: Hunter Biden. Well, we had had a bo Biden foundation

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Speaker 1: sticker on it. The owner of a computer repair shop

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Speaker 1: that someone he doesn't know who brought the computer the

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Speaker 1: laptop in for Repairum looked at the emails, which first,

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Speaker 1: I don't want my computer repair guy reading my emails.

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Speaker 1: Then he makes two copies of the hard drives, gives

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Speaker 1: one to the FBI, one to Steve Bannon, who gives

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Speaker 1: it to Rudy Giuliani's lawyer, who gives it to The

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Speaker 1: New York Post. And then they all say these emails

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Speaker 1: are real. The New York Post took no steps to

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Speaker 1: verify these emails were real. Um, and they don't say

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Speaker 1: he met what they say. The email says it's a

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Speaker 1: Barisma Energy executive or advisor to the company, writes the

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Speaker 1: hunter and says thank you for the opportunity to meet

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Speaker 1: your father. The Biden him and said, no such meeting

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Speaker 1: was ever on the books when he was vice president meetings.

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Speaker 1: As you well now, official meetings are always on a

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Speaker 1: book somewhere on a calendar, on a schedule. No such

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Speaker 1: meeting happened. Maybe they shook hands in a receiving line,

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Speaker 1: maybe they met in the park, but but there's no

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Speaker 1: record of it, and nothing in the email says the

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Speaker 1: meeting happened. So all this leaves a tremendous amount of

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Speaker 1: questions about this story. So so what's the okay? So

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Speaker 1: that's that's the questions that are out there. The biding

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Speaker 1: campaign as well Trump for all to seizing on this.

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Speaker 1: Oh yeah, and I doubt they're going to stop talking

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Speaker 1: about it for the next nineteen and a half days. Um,

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Speaker 1: you know, they're going to say that this proves that

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Speaker 1: the firing of the prosecutor was corrupt. And remember that

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Speaker 1: Bloomberg I think reported um out of Ukraine that the

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Speaker 1: investigation into Barisma by this corrupt prosecutor, Victor Shokin had

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Speaker 1: been over for more than a year when the European

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Speaker 1: Union and the United States the sided together that this guy,

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Speaker 1: Victor show Can had to go and somebody said, Joe Biden,

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Speaker 1: you go do it, you go get him fired, and

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Speaker 1: he did. Um but that but the beliefs my investigation

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Speaker 1: had been over by them. So I'm just I'm just

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Speaker 1: I'm just so surprised. Just here we are nineteen days

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Speaker 1: out until an election, and you know, it's so I

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Speaker 1: guess it's to be expected, but you've got this massive virus.

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Speaker 1: Now you've got this New York Post story. There was

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Speaker 1: a major headline that crossed just within the last hour

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Speaker 1: that Baron Trump tested positive for COVID nineteen and then

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Speaker 1: has since recovered and then negative. Yes, so he's you know,

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Speaker 1: I want to be clear on that, um, but no

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Speaker 1: one's talking about the economy and in the States. In

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Speaker 1: the States, though, I really do think it that's much

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Speaker 1: more of the headwinds and and you so rightfully in

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Speaker 1: the two minutes that we have left, but you so

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Speaker 1: rightly pointed out that in battleground states, it's all about

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Speaker 1: the economy and who people blame. And that's why I

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Speaker 1: think fascinating enough, the issue of fracking is so incredibly important.

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Speaker 1: I think that could swing a state. And and you

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Speaker 1: know the issue of senior citizens and and and health

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Speaker 1: care for senior citizens, I also think is going to

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Speaker 1: be a massive driver in um in Florida, Wendy. But

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Speaker 1: the economy just seems to be the one thing no

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Speaker 1: one's talking about nationally. That's You're absolutely right, Kevin. The

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Speaker 1: economy is tied to the virus. The economy is tied

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Speaker 1: to healthcare, The economy is tied to just about everything else.

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Speaker 1: And voters outside of Washington do not care about Hunter Biden.

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Speaker 1: They really don't put the Supreme Court in the top five.

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Speaker 1: Voters in these key states that we've been talking about Florida, Ohio, Michigan, Wisconsin, Pennsylvania,

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Speaker 1: they want to know if they're going to have a job,

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Speaker 1: They want to know if they're going to have healthcare,

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Speaker 1: and I and you know, issues like that that are

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Speaker 1: important to them, and whether their taxes are going to

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Speaker 1: go up. Wendy, I got a minute left how are

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Speaker 1: you otherwise doing good? My friend doing good? Yeah? You know,

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Speaker 1: which are like what to written seventh day from home?

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Speaker 1: So oh you're counting. Wait. I didn't realize as when

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Speaker 1: I'm in the office every day by myself, I just

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Speaker 1: sit there alone. I talked to your desk, I passed by,

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Speaker 1: you know, I'm like, I'm like Tom Hanks. I'm like

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Speaker 1: Tom Hanks and cast away. I've got the ball with

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Speaker 1: Wilson on it, and I go, Wendy, Wendy, where are

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Speaker 1: you meet me in the pantry? I said, by myself.

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Speaker 1: Aren't you glad you called in? Wendy Benjamin Sydney, Bloomberg

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Speaker 1: Politics editor, a good friend of mine, and of course

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Speaker 1: just her team just doing stellar, stellar, phenomenal reporting throughout

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Speaker 1: all of this, all of them working remotely. So grateful

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Speaker 1: to to have her on the program. You can download

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Speaker 1: the Bloomberg Sound On podcast on Apple iTunes, at Bloomberg

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Speaker 1: dot com, or by downloading the Bloomberg Business app. You

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Speaker 1: can also find me on Radio dot com, I Heart Radio,

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Speaker 1: and Spotify. I hope you all have the image of

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Speaker 1: me on an island for the ball and Wilson and

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Speaker 1: I know Matt surely one of our producers on the

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Speaker 1: show is laughing, and Christine Baranda. I'm not in video

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Speaker 1: chat yet, but I can see them shaking their heads.

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Speaker 1: Lots more coming up next. I'm Kevin Sereli. You're listening

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Speaker 1: to Bloomberg nine and I one. This is Bloomberg's Sound

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Speaker 1: on with Kevin Surreley on Bloomberg and one oh five

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Speaker 1: point seven f M HD two. I'm Kevin Sereli, Chief

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Speaker 1: Washington correspondent for Bloomberg Television and for Bloomberg Radio. Uh.

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Speaker 1: President Trump is well now downplaying against the reality of

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Speaker 1: their being a fiscal stimulus before before the election. Even

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Speaker 1: though he's betweening that he wants it, his top administration

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Speaker 1: officials are saying it's gonna be it's gonna be tough

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Speaker 1: to get to some type of stimulus. It's on again,

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Speaker 1: off again, on again, off again. It's tough to keep

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Speaker 1: track stuff to keep track. Let's dive into my Bloomberg

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Speaker 1: terminal stacks dropped after Treasury Secretary Stephen Manutian downplayed the

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Speaker 1: chances of striking a stimulus deal before the election. Yep,

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Speaker 1: so we're talking about traders also parst earnings from big

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Speaker 1: banks with Wells Fargo tumbling six percent after reporting a

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Speaker 1: fifty six percent plunge and profit, and warning warning that

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Speaker 1: net interest income could quote get a little bit softer endquote.

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Speaker 1: Bank of America slid amid an increase in trading revenue

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Speaker 1: that was just a fraction of its competitors gains, while

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Speaker 1: Goldman Goldman Zach's outperformed after earnings per share jumped to

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Speaker 1: a record record that was almost twice as high as

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Speaker 1: analysts predicted. All right, but the big driving force here today, folks,

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Speaker 1: As I mentioned Secretary Monution, he was speaking at the

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Speaker 1: Milk and Institute Global Conference today. Virtually here he is

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Speaker 1: talking about the stimulus. I'd say at this point getting

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Speaker 1: something done before the election and executing on that would

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Speaker 1: be difficult just given where we are in the level

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Speaker 1: of details. But we're gonna try to continue to work

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Speaker 1: through these issues. Mark camericks with me. He's in your

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Speaker 1: economic analyst at bank rate dot com. Mark. Secretary Minution

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Speaker 1: not too happy about the stimulus talks, is not too optimistic.

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Speaker 1: What else happened in the markets today, Mark, Well, I mean,

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Speaker 1: I don't know where investors heads are at. As they

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Speaker 1: thought that it was going to be full seam ahead

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Speaker 1: for this legislation. Have they not been paying attention to

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Speaker 1: what's been happening in the Senate? Uh? You know, I

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Speaker 1: mean it really does baffle me when this is a

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Speaker 1: commonly cited reasoning, and it may well be a legitimate

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Speaker 1: justification for the performance of the market. And I understand

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Speaker 1: that some of the financial earnings may not have matched

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Speaker 1: some expectations or hopes, or perhaps changed with the outlook.

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Speaker 1: But you know, the five largest US banks have reported

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Speaker 1: to combine twenty three billion dollars in Q three three profits.

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Speaker 1: So coming out of what we experienced earlier this year,

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Speaker 1: and what the outlook I think for the financials in general, certainly,

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Speaker 1: you know, having been lifted immeasurably by the events of

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Speaker 1: the past several months. Uh you know, I think you

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Speaker 1: have to say, you know, it's been a rough journey,

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Speaker 1: but we're not nearly in the depths of the depression

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Speaker 1: like we thought we might be by now. Remember when

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Speaker 1: the Newts and earlier this year was using as a

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Speaker 1: justification to push for economic relief legislation, the fear that

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Speaker 1: we'd see plus unemployment sort of by the official measurement

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Speaker 1: of the Labor Department as as opposed to you know,

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Speaker 1: sort of a rough estimate, so you know, markets go

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Speaker 1: up and down. I wouldn't attach too much importance to

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Speaker 1: it to one day's movement, but you know, if if

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Speaker 1: people are are sort of saddling up and looking to

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Speaker 1: ride the horse betting on economic stimulus legislation or relief

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Speaker 1: legislation being passed, you might want to trade that in

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Speaker 1: for a scooter at this point. Well, listen, I'm known

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Speaker 1: to take a scooter around town when I'm running late

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Speaker 1: for head. Sorry, Mark Hamblocksberg. He is uh. He is

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Speaker 1: uh with Bank dot Com and of course just a complete,

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Speaker 1: a complete all star on all of these issues. I

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Speaker 1: want to play for you. You you alluded to this,

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Speaker 1: but I want to play for you a sound bay

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Speaker 1: from President Trump earlier today when he was speaking about

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Speaker 1: the stimulus, because President Trump uh spoke from the White

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Speaker 1: House at an Economic Club of New York event, uh,

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Speaker 1: and he was talking about the stimulus and he keeps

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Speaker 1: saying he's he's doing it here here he is. We

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Speaker 1: are trying to help, and we're trying to get some

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Speaker 1: stimulus money, which I think is very important for certain industries,

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Speaker 1: certainly the airline business. You know, people aren't exactly hopping

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Speaker 1: into airplanes to travel, and then you go to Europe

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Speaker 1: and you have to quarantine for two weeks. Who's gonna

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Speaker 1: do that? And is there anybody in the world that's

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Speaker 1: gonna do that? So we're working with other countries. So

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Speaker 1: there he is talking just about about stimulus and just

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Speaker 1: the the the difficulty that that many of the states

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Speaker 1: are having, uh in terms of trying to navigate all this.

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Speaker 1: But you know, yesterday Speaker Pelosi spoke with CNN s

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Speaker 1: Both Blitzer in a very contentious interview in which she said,

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Speaker 1: you know that you know, she's blaming the Republicans. Even

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Speaker 1: is more and more Democrats, rank and file Democrats are

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Speaker 1: starting to put pressure on her to to you know,

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Speaker 1: agree to at one point a trillion dollar deal. I mean,

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Speaker 1: from your vantage point, your veteran of these issues, who

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Speaker 1: is it a failure of Washington or is it one

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Speaker 1: particular party? Well, I I think there's plenty of blame

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Speaker 1: to go around. But I think you know, it's pretty

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Speaker 1: obvious that Mitch McConnell is number one, really has not

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Speaker 1: wanted to play an active role in these negotiations. And

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Speaker 1: remember we had, uh, we sort of have had the

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Speaker 1: uh you know, if you if you look at professional football,

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Speaker 1: it's been like Manuchin was given the ball as the

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Speaker 1: quarterback for a while to be included in these negotiations,

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Speaker 1: and then it was mark O Meado's and that seemed

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Speaker 1: to go nowhere fast. And then now, you know, I

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Speaker 1: think because Manuchin was able to have some success with

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Speaker 1: being part of a consensus, if that's the right way

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Speaker 1: to look at it has been put back on the

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Speaker 1: playing field. But I think I think you're going to

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Speaker 1: get zero between now on election day. And you know,

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Speaker 1: it's hard to imagine the scenario where the president all

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Speaker 1: of a sudden keep it going once the play ball

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Speaker 1: after election day, no matter what happens. Uh, you know,

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Speaker 1: but right now, you know, it's looking pretty grim for

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Speaker 1: the Republicans. So um, you know, will while I think,

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Speaker 1: leaving aside the politics of whether one is for it

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Speaker 1: or against it, from an economic stampoint, obviously it's either

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Speaker 1: going to help the economy if it's passed, or or

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Speaker 1: there's going to be a price to be paid if

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Speaker 1: it doesn't get passed. And whatever it might be, whether

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Speaker 1: it's for the airlines alone as a stand alone, which

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Speaker 1: is unacceptable to Pelosi, who seemed to be having a

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Speaker 1: bad day with WILF. Blitzer, who isn't exactly known as

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Speaker 1: the raging lunatic in interviews, like there's no one more.

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Speaker 1: I mean, it's yeah, I go ahead. I thought that

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Speaker 1: was pretty rich to watch him get attacked. But go ahead.

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Speaker 1: It was a great It was just strange. It was strange.

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Speaker 1: But I mean, you know, as as someone who's lived

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Speaker 1: in Washington for more than thirty years, I mean, you know,

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Speaker 1: it's hashtag twenty, right, so I mean two of the best,

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Speaker 1: you know, I mean, go ahead, yeah, yeah, Well no,

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Speaker 1: I just expect to see dogs and cats walking down

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Speaker 1: the street hand in hand on two feet before long.

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Speaker 1: But but I'm scooted exactly exactly. But I just think

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Speaker 1: we should really ratchet back our expectations. And if and

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Speaker 1: if we're pleasantly surprised that there is some legislation pass

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Speaker 1: from the standpoint of giving the economy a boost and

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Speaker 1: helping the people who need some help, um, then then

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Speaker 1: you know, so be it. But for now, I think

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Speaker 1: we really need to probably say, you know, Washington has

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Speaker 1: been largely unproductive since the second half of the year began,

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Speaker 1: except for the continuing resolution. Remember that was a very

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Speaker 1: low bar to get over to keep the government in

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Speaker 1: business through December eleventh, instead of passing the dozen pieces

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Speaker 1: of legislation that a fully functioning Vermont would do or

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Speaker 1: or Congress and the President vesis basically did the old

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Speaker 1: kick the can again. And and that's going to be

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Speaker 1: another thing on the to do lift once we get

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Speaker 1: into December. But you know that's a long way away.

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Speaker 1: Mark Cameron, first time on the program. I really really

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Speaker 1: appreciate it. Hey, are the Jayhawk's going to beat the

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Speaker 1: Mountaineers this weekend? You know, that's a very delicate question

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Speaker 1: in our family because my late father was a mountaineer

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Speaker 1: and my sister's a Mountaineer's what's that again? My sister

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Speaker 1: is a mountaineer. Well, God bless her. I was born

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Speaker 1: in the state of West Virginia and then shepherded away

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Speaker 1: to Kansas, so you know, over the course of my childhood.

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Speaker 1: So um, but here's the thing. You never bet on

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Speaker 1: Kansas football. Okay, the Philadelphia Eagles fan, I can, I

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Speaker 1: can sympathize my friend. I don't know. I'm gonna I guess.

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Speaker 1: I guess my sister will want me to roof in

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Speaker 1: the Montas. But hey, Mark, I'm not going to root

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Speaker 1: against Mark Hemrick, a senior economic chanalyst at bank rate

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Speaker 1: dot com and of course a veteran of all of

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Speaker 1: these issues that no one does it better. Thank you

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Speaker 1: so Mark, so much. Mark, Thank you so much, Mark

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Speaker 1: for making time for me. You can download the Bloomberg

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Speaker 1: Sound On podcast on app latins to Bloomberg dot com

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Speaker 1: or by downloading the Bloomberg Business app. Can also find

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Speaker 1: me on Radio dot com, I heard Radio and Spotify.

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Speaker 1: My name is Kevin CURRELI im the chief Washington correspondent

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Speaker 1: for Bloomberg Television Radio. You're listening to Bloomberg One live

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Speaker 1: from our nation's camera. How do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers? What

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Speaker 1: does this do for the United States relationship with China?

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Speaker 1: Bloomberg Sound on the insiders, the influencers, the insides. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. We're looking at Sebny Kennedy for different vaccines.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: Surrel on Bloomberg two. President Trump still talking about stimulus,

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Speaker 1: Secretary Monution says maybe not gonna happen. The latest on that,

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Speaker 1: plus Judge Amy Coney Barrett, Day two of the Question

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Speaker 1: and Answer period up on Capitol Hill and crunch Time.

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Speaker 1: Nineteen days and some hours until Election Day. The big

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Speaker 1: story tonight, President Trump talking about the stimulus, as was

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Speaker 1: Secretary of Treasury Steve Manution, both calling on the need

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Speaker 1: for stimulus but also pointing that it likely now will

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Speaker 1: not come until after the election. This as stocks fall

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Speaker 1: as the stimulus hopes faded. The stocks dropped after Treasury

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Speaker 1: Secretary Manution downplayed the chances of striking a stimulus deal

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Speaker 1: before the election. Let's take a listen to what Secretary

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Speaker 1: Manution had to say about getting something done on the

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Speaker 1: stimulus before the election. He says it would be difficult.

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Speaker 1: He spoke virtually at the Milken Institute Global Conference earlier today.

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Speaker 1: Here he is, I'd say, at this point, think something

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Speaker 1: done before the election and executing on that. It would

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Speaker 1: be difficult just given where we are in the level

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Speaker 1: of details. But we're gonna try to continue to work

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Speaker 1: through these issues. That was Secretary of Treasury Steve Manutian

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Speaker 1: speaking earlier today at the Milken Institute Global Conference. And

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Speaker 1: then then we had President Trump because he gave some

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Speaker 1: remarks from the White House appearing virtually at the Economic

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Speaker 1: Club of New York event that happened earlier today, and

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Speaker 1: he said that he's still trying to get there to

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Speaker 1: be a stimulus even as Speaker Pelosi and Leader McConnell's

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Speaker 1: are entrenched on their respective sides. Here's the President of

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Speaker 1: the United States. We are trying to help and we're

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Speaker 1: trying to get some stimulus money, which I think is

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Speaker 1: very important for certain industries, certainly the airline business. You know,

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Speaker 1: people aren't exactly hopping into airplanes to travel, and then

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Speaker 1: you go to Europe and you have to quarantine for

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Speaker 1: two weeks. Who's going to do that? Is there anybody

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Speaker 1: in the world that's gonna do that? So we're working

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Speaker 1: with other countries. Was President Trump speaking earlier today at

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Speaker 1: the White House at the Economic Club of New York.

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Speaker 1: UH Now D M. L. Shami is with us. He

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Speaker 1: is the former chief of staff too House Democrat Leader

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Speaker 1: Nancy Pelosi, and Ted Harvey, chairman of the Committee to

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Speaker 1: Defend the President, which is Approach Trump superpack. He is

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Speaker 1: a former Colorado state senator. Uh, let's start with you, Ted.

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Speaker 1: I mean, I don't understand why the president can't get

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Speaker 1: everyone in the room and strike a deal. I wish

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Speaker 1: you was that easy. Um do you have? You have

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Speaker 1: a split Congress. You have Nancy Pelosi who is digging

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Speaker 1: in her heels and she will not budge on the

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Speaker 1: issues that she's passionate about. And you have Mitch McConnell

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Speaker 1: that um doing the same in the Senate and that

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Speaker 1: it doesn't matter what the President wants, it matters what

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Speaker 1: Congress wants. They are the ones that have the keys

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Speaker 1: to the purse. So we're gonna have to looks like

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Speaker 1: wait until we were able to go to through the election.

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Speaker 1: If you look at Nancy Pelosi's proposal and President Trump's proposals,

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Speaker 1: they're almost identical. The only thing that is different is

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Speaker 1: that the President wants to ensure that we have UM

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Speaker 1: liability protection for businesses who, um, somebody might get sick

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Speaker 1: in their businesses. And there's there's over thirty thousand losses

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Speaker 1: right now against businesses dealing with COVID, and the President

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Speaker 1: wants to give them protection. And Nancy Pelosi even though

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Speaker 1: they're almost in agreement on everything else. This is the

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Speaker 1: one thing that Nancy's not going to give up because

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Speaker 1: she's not going to throw the trial attorneys under the

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Speaker 1: bus because they're significant donors to the Democrat Party. Email

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Speaker 1: Sharmi's here. He's the former chief of staff to Speaker Pelosi.

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Speaker 1: I mean, yesterday's interview that Speaker Pelosi did with the

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Speaker 1: CNN's Vulplitzer was fascinating for a variety of reasons. But

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Speaker 1: one of the reasons that I couldn't really understand from

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Speaker 1: from there from her response was about the pressure that

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Speaker 1: she's facing from rank and file members. Yes, the committee

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Speaker 1: chairs don't have not spoken out a pressure on her,

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Speaker 1: but the rank and file members deserve to be heard.

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Speaker 1: And they're increasingly, you know, getting pressure from constituents that

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00:24:15,560 --> 00:24:17,880
Speaker 1: they can't get to a deal. And and the White

429
00:24:17,920 --> 00:24:21,200
Speaker 1: House is offering one point eight trillion dollars. That's significantly

430
00:24:21,200 --> 00:24:24,320
Speaker 1: more than the five and eighty billion that Leader McConnell

431
00:24:24,320 --> 00:24:26,520
Speaker 1: put forth, So it's not like they're they're not you know,

432
00:24:26,720 --> 00:24:32,080
Speaker 1: coming with a serious amount here in the dem Yeah,

433
00:24:32,119 --> 00:24:34,919
Speaker 1: thank you so much. You can come for having me, um,

434
00:24:34,920 --> 00:24:37,240
Speaker 1: but let's be um let's be honest here. You know,

435
00:24:37,280 --> 00:24:39,320
Speaker 1: you've got to come in with one point eight trillion

436
00:24:39,359 --> 00:24:41,600
Speaker 1: dollars supposed to leave it of her. The number is

437
00:24:41,680 --> 00:24:45,200
Speaker 1: closer to one point three trillion dollars. And everybody looks

438
00:24:45,240 --> 00:24:49,240
Speaker 1: at the top lines, but what's underneath that? Um, well,

439
00:24:49,240 --> 00:24:52,080
Speaker 1: we could certainly go through and stand local funding is

440
00:24:52,080 --> 00:24:54,520
Speaker 1: not inadequate. Do you think Democrats in the House are

441
00:24:54,520 --> 00:24:57,960
Speaker 1: gonna like that the liability protection that was included in

442
00:24:58,000 --> 00:25:01,280
Speaker 1: the President's package was overally rob Do you think Democrats

443
00:25:01,280 --> 00:25:04,160
Speaker 1: in the House they're gonna like that, Uh, there wasn't

444
00:25:04,280 --> 00:25:07,000
Speaker 1: enough money for testing and for tracing, which is a

445
00:25:07,040 --> 00:25:10,119
Speaker 1: pop priority, not just for the chairman but for all Democrats.

446
00:25:10,119 --> 00:25:12,760
Speaker 1: You think they're gonna like that it's not going to

447
00:25:12,880 --> 00:25:17,920
Speaker 1: expand the PPP proposal to include certain demographics that Democrats

448
00:25:17,960 --> 00:25:20,639
Speaker 1: proved very strongly about. You think the Democratic Caucus is

449
00:25:20,680 --> 00:25:24,639
Speaker 1: gonna like that there's not enough funding for rental assistance.

450
00:25:24,960 --> 00:25:28,159
Speaker 1: Democrats are gonna like that, and the terms and in

451
00:25:28,280 --> 00:25:31,720
Speaker 1: terms of childcare, which everyone agrees is absolutely essential for

452
00:25:31,800 --> 00:25:36,040
Speaker 1: those families, they're not gonna like it. I got your drift, NA,

453
00:25:36,440 --> 00:25:40,320
Speaker 1: I mean luck not but but but you know, but

454
00:25:40,400 --> 00:25:43,600
Speaker 1: you know, we're all optimist, right, because Democrats passed a

455
00:25:43,640 --> 00:25:48,359
Speaker 1: bill ago, then they came back and they passed another bill.

456
00:25:48,720 --> 00:25:52,359
Speaker 1: And during the whole time, Secretary Manichean hardly spoke with

457
00:25:52,400 --> 00:25:55,560
Speaker 1: the speaker. Then all of a sudden, the Secretary, who's

458
00:25:56,040 --> 00:25:59,440
Speaker 1: doing his best, and I have tremendous respect for him,

459
00:25:59,480 --> 00:26:01,879
Speaker 1: he is really in the triangle. He's stuck in the middle. Right,

460
00:26:01,880 --> 00:26:04,560
Speaker 1: you have Chief of Staff Meadows, who was just saying,

461
00:26:04,680 --> 00:26:06,879
Speaker 1: doesn't really want to deal. From the beginning, he had

462
00:26:06,920 --> 00:26:09,120
Speaker 1: President Trump who wanted the deal, didn't want to deal.

463
00:26:09,160 --> 00:26:11,800
Speaker 1: One is a big deal. Spoke with little McConnell's who

464
00:26:12,000 --> 00:26:13,520
Speaker 1: don't have a deal. He put out a tweet, and

465
00:26:13,560 --> 00:26:15,880
Speaker 1: all of a sudden, we're lost. We don't know what's

466
00:26:15,880 --> 00:26:19,600
Speaker 1: going on. And of course little McConnell focusing on the

467
00:26:19,640 --> 00:26:23,600
Speaker 1: Supreme Court nomination. So look, the confusion there is pretty clear.

468
00:26:23,960 --> 00:26:27,560
Speaker 1: It's over on the Republican side. Democrats are willing to

469
00:26:27,600 --> 00:26:30,760
Speaker 1: make compromises, and they have. When we talk about tillions

470
00:26:30,760 --> 00:26:32,879
Speaker 1: of dollars, they have come down trillions of dollars. But

471
00:26:32,920 --> 00:26:34,720
Speaker 1: he has to take a look at the details. You

472
00:26:34,760 --> 00:26:36,880
Speaker 1: have to make sure that you know when Nancy Pelosi

473
00:26:36,920 --> 00:26:39,240
Speaker 1: goes to deliver the votes to her caucus. You know

474
00:26:39,359 --> 00:26:41,239
Speaker 1: she's not gonna hold up a package and said, you know,

475
00:26:41,800 --> 00:26:45,399
Speaker 1: the President and Mitch McConnell really got nine pent of

476
00:26:45,400 --> 00:26:47,520
Speaker 1: what they wanted, and everything that you care about well

477
00:26:47,640 --> 00:26:51,280
Speaker 1: got slashed or gut cut. All right, But I want

478
00:26:51,280 --> 00:26:52,800
Speaker 1: to said, I'm gonna come back you in a second.

479
00:26:52,840 --> 00:26:55,919
Speaker 1: But you know I wanna. I think given the interview

480
00:26:55,960 --> 00:26:58,600
Speaker 1: yesterday that Speaker Pelosi did with Wolfe and and of

481
00:26:58,640 --> 00:27:01,200
Speaker 1: course now President Trump and and Secretary of Nation saying

482
00:27:01,200 --> 00:27:04,480
Speaker 1: it's not gonna happen again until after the election, take

483
00:27:04,560 --> 00:27:07,720
Speaker 1: us inside, because you know Speaker Pelosi better than anyone, really,

484
00:27:08,400 --> 00:27:11,760
Speaker 1: take us inside her thinking. I mean, does she feel

485
00:27:12,000 --> 00:27:16,040
Speaker 1: caught between the far left and the more moderate wing

486
00:27:16,160 --> 00:27:19,920
Speaker 1: or is that an exaggeration of the press. I think

487
00:27:19,920 --> 00:27:22,400
Speaker 1: that is a that is a deep exaggeration of the press.

488
00:27:22,480 --> 00:27:24,800
Speaker 1: If if the debt was really the case, then why

489
00:27:24,800 --> 00:27:27,159
Speaker 1: not past potentially and daughter package and go to the

490
00:27:27,240 --> 00:27:29,760
Speaker 1: left until everyone you know, this is what we're gonna do.

491
00:27:29,920 --> 00:27:32,359
Speaker 1: She would not have come down this much if she

492
00:27:32,400 --> 00:27:36,080
Speaker 1: wasn't looking for a compromise with the administration. But look,

493
00:27:36,119 --> 00:27:38,560
Speaker 1: we can't all say that because we support p p

494
00:27:38,720 --> 00:27:42,080
Speaker 1: P and we support some funding for some healthcare proposals

495
00:27:42,240 --> 00:27:44,600
Speaker 1: and a little bit for for testing. You know, this

496
00:27:44,640 --> 00:27:46,800
Speaker 1: is the stuff that we agree on, so let's pass it.

497
00:27:47,040 --> 00:27:50,840
Speaker 1: At the same time, everything that you are in the majority,

498
00:27:51,440 --> 00:27:53,720
Speaker 1: you're not gonna be able to get or you shouldn't get.

499
00:27:53,720 --> 00:27:56,760
Speaker 1: And I think that's the mentality here. She's fighting for

500
00:27:56,800 --> 00:28:00,600
Speaker 1: her full Cacus understands how dangerous the situation is. All right,

501
00:28:00,880 --> 00:28:03,240
Speaker 1: Nadeem Elshami's gonna stay with us for the hour. Coming up,

502
00:28:03,240 --> 00:28:05,600
Speaker 1: we're gonna talk about the Supreme Court. He's the former

503
00:28:05,680 --> 00:28:07,760
Speaker 1: chief of staff to Speaker Pelosi and Ted Harvey, So

504
00:28:07,920 --> 00:28:10,480
Speaker 1: we got to talk about Scotus coming up, piece chairman

505
00:28:10,480 --> 00:28:13,359
Speaker 1: of the Committee to Defend the President Approach Trump Superpack,

506
00:28:13,520 --> 00:28:17,360
Speaker 1: and the former Colorado State Senator. Download the Bloomberg Sound

507
00:28:17,440 --> 00:28:19,640
Speaker 1: on podcast on Apple, it teams and Bloomberg dot com,

508
00:28:19,760 --> 00:28:21,880
Speaker 1: or by downloading the Bloomberg Business App. You can also

509
00:28:21,960 --> 00:28:28,320
Speaker 1: find me on Radio dot com, I Heart Radio, and Spotify. Meanwhile,

510
00:28:29,040 --> 00:28:33,120
Speaker 1: UH stocks dropped earlier today. Traders also parsed earnings from

511
00:28:33,119 --> 00:28:35,680
Speaker 1: the big banks, with Wells Fargo tumbling six percent after

512
00:28:35,760 --> 00:28:38,760
Speaker 1: reporting a fifty six percent plunge and profit and warning

513
00:28:38,920 --> 00:28:41,240
Speaker 1: that net interest income could get a little bit softer

514
00:28:41,640 --> 00:28:45,280
Speaker 1: in one mark coming up next, you're listening to Bloomberg.

515
00:28:48,600 --> 00:28:52,040
Speaker 1: You're listening to Bloomberg. Sound On with Kevin Surrel on

516
00:28:52,160 --> 00:28:55,640
Speaker 1: Bloomberg and one oh five point seven f M h

517
00:28:55,760 --> 00:28:58,640
Speaker 1: D two. My name is Kevin Cirelli. I'm the chief

518
00:28:58,720 --> 00:29:02,400
Speaker 1: Washington correspondent from Boomberg Television and for Bloomberg Radio. Shoutouts

519
00:29:02,400 --> 00:29:05,680
Speaker 1: to our EP Christine Barrata, Matt Shirley, and of course

520
00:29:05,920 --> 00:29:08,680
Speaker 1: Timothy hero on the board for all of their hard

521
00:29:08,720 --> 00:29:12,920
Speaker 1: work and putting this program together. Okay, time now to

522
00:29:13,000 --> 00:29:16,600
Speaker 1: check back up on Capitol HILP where Judge Amy coney Barrett,

523
00:29:16,960 --> 00:29:20,480
Speaker 1: Judge Amy Coney Barrett testifying uh day two of the

524
00:29:20,640 --> 00:29:23,400
Speaker 1: of the question and answer period. I have a little

525
00:29:23,440 --> 00:29:27,480
Speaker 1: bit of that and and Senator Lindsey Graham h was

526
00:29:27,960 --> 00:29:31,360
Speaker 1: this exchange that he had with Judge Amy Coney Barrett here,

527
00:29:31,360 --> 00:29:34,360
Speaker 1: of course, is the chairman of the Senate Judiciary Committee.

528
00:29:34,800 --> 00:29:39,040
Speaker 1: And Chairman Graham explained why he opposed as a coronavirus

529
00:29:39,240 --> 00:29:42,480
Speaker 1: relief bill when asked by the Democrats. This was during

530
00:29:42,560 --> 00:29:45,080
Speaker 1: the A C. B hearing. Here he is. One of

531
00:29:45,120 --> 00:29:47,200
Speaker 1: the reasons we don't have an agreement with the House

532
00:29:47,320 --> 00:29:49,640
Speaker 1: is and in their two point two Tree and Dollar package,

533
00:29:49,960 --> 00:29:54,920
Speaker 1: their mandating ballot harvesting as a national policy. I think

534
00:29:55,000 --> 00:29:59,920
Speaker 1: it's right for fraud. We've seen evidence of ballots being

535
00:30:00,080 --> 00:30:03,560
Speaker 1: placed in people's cards and dropped in ditches. So I

536
00:30:04,040 --> 00:30:06,480
Speaker 1: raised this because he's the chairman of the Judiciary Committee,

537
00:30:06,520 --> 00:30:09,440
Speaker 1: and it really is a microcosm. Nineteen days and some

538
00:30:09,600 --> 00:30:13,040
Speaker 1: hours left until the polls closed on November three, UH,

539
00:30:13,400 --> 00:30:16,840
Speaker 1: and this what's happening in the Senate Committee hearing room

540
00:30:17,320 --> 00:30:20,360
Speaker 1: is really riveting because it illustrates just the pressure that

541
00:30:20,440 --> 00:30:23,560
Speaker 1: these lawmakers are are under. Chairman Graham minds you was

542
00:30:23,640 --> 00:30:26,560
Speaker 1: up for a tough reelection fight in South Carolina. But

543
00:30:26,640 --> 00:30:29,080
Speaker 1: Judge Jamie Coney Barrett, one of the threads that have

544
00:30:29,160 --> 00:30:35,760
Speaker 1: emerged during this hearing is really whether or not she

545
00:30:36,080 --> 00:30:42,800
Speaker 1: would participate in UH in a court case that might

546
00:30:42,920 --> 00:30:46,640
Speaker 1: decide the election. As what happened in two thousand and one, UH,

547
00:30:46,760 --> 00:30:48,320
Speaker 1: they might have to rule on a case that that

548
00:30:48,440 --> 00:30:50,400
Speaker 1: has implications of deciding an election. I want to be

549
00:30:50,440 --> 00:30:52,800
Speaker 1: careful with my word choice. I here's Judge Jamie Coney

550
00:30:52,840 --> 00:30:56,600
Speaker 1: Barrett speaking earlier today on that here she occasions on

551
00:30:56,680 --> 00:31:01,200
Speaker 1: which courts adjudicate election disputes or signed to protect the

552
00:31:01,280 --> 00:31:03,920
Speaker 1: voters choice and the right to vote. So, of course

553
00:31:04,000 --> 00:31:06,960
Speaker 1: the Supreme Court doesn't cast ballots, voters cast ballots, and

554
00:31:07,040 --> 00:31:12,440
Speaker 1: election laws designed to protect the right to vote. And meanwhile, uh, Judge,

555
00:31:12,840 --> 00:31:16,440
Speaker 1: I'm sorry. Senator Amy Klobuchar also asked her about this issue.

556
00:31:16,520 --> 00:31:18,840
Speaker 1: Take a listen to Amy Klobuchar on the election and

557
00:31:18,920 --> 00:31:21,720
Speaker 1: mind you, today is the last day, the last day

558
00:31:22,040 --> 00:31:25,160
Speaker 1: that Senators can ask questions for Judge Amy Coney Barrett.

559
00:31:25,160 --> 00:31:28,560
Speaker 1: Here schis, if you are confirmed, the Supreme Court will

560
00:31:28,640 --> 00:31:33,320
Speaker 1: have not one, not two, but three justices you, Justice

561
00:31:33,400 --> 00:31:37,560
Speaker 1: Kavanaugh and Chief Justice Roberts, who worked on behalf of

562
00:31:37,760 --> 00:31:41,480
Speaker 1: the Republican Party in matters related to the Bush be

563
00:31:41,680 --> 00:31:44,520
Speaker 1: Gore case, and email Sean he's with us. He is

564
00:31:44,560 --> 00:31:46,560
Speaker 1: the former chief of staff to how Speaker Nancy Pelo

565
00:31:46,680 --> 00:31:48,960
Speaker 1: seats at Harvey chairman of the Committee to Defend the

566
00:31:48,960 --> 00:31:52,719
Speaker 1: President Approach Trump superPAC former Colorado State Senator Ted I mean,

567
00:31:52,960 --> 00:31:56,040
Speaker 1: the issue of the elections and deciding an election case

568
00:31:56,120 --> 00:31:59,360
Speaker 1: really a key thread at today's Question and answer portion

569
00:31:59,480 --> 00:32:04,720
Speaker 1: of a CB hearings. I think they're grasping it strongly.

570
00:32:05,480 --> 00:32:09,800
Speaker 1: Go ahead, I'm sorry. I think the Democrats realize that

571
00:32:10,560 --> 00:32:13,320
Speaker 1: Judge Barrett is the smartest person in the room, whether

572
00:32:13,600 --> 00:32:16,560
Speaker 1: it's a Republican senator or a Democrats senator. Um, she

573
00:32:16,920 --> 00:32:19,520
Speaker 1: was able to answer all of these questions in site,

574
00:32:19,640 --> 00:32:23,320
Speaker 1: all of these cases going back a hundred years, and

575
00:32:23,640 --> 00:32:25,360
Speaker 1: do it all off the top of her head. She

576
00:32:25,640 --> 00:32:29,719
Speaker 1: is absolutely brilliant, did it all without notes. And UM,

577
00:32:29,880 --> 00:32:32,800
Speaker 1: I think she proved to the American people that she

578
00:32:32,880 --> 00:32:35,960
Speaker 1: has certainly qualified to sit on the Court. The Democrats

579
00:32:36,000 --> 00:32:39,680
Speaker 1: are just trying to find anything to justify why UM,

580
00:32:39,800 --> 00:32:43,520
Speaker 1: going into this election they should vote against her. And UM,

581
00:32:43,640 --> 00:32:47,080
Speaker 1: I think I would be far more worried if I

582
00:32:47,160 --> 00:32:49,280
Speaker 1: were a Democrat on voting though, than I would be

583
00:32:49,360 --> 00:32:51,840
Speaker 1: a power of a Republican voting. Yes said, let me

584
00:32:51,840 --> 00:32:54,320
Speaker 1: ask you this question just because you are You are,

585
00:32:54,360 --> 00:32:57,040
Speaker 1: of course the chairman of of Approach Trump Superpack. There's

586
00:32:57,040 --> 00:32:59,560
Speaker 1: been much written about in the media about the President's

587
00:32:59,560 --> 00:33:03,840
Speaker 1: struggle financially on this re election campaign, and there's been

588
00:33:03,880 --> 00:33:07,720
Speaker 1: some reports that that people like yourself are are more

589
00:33:07,880 --> 00:33:12,120
Speaker 1: interested right now and making sure that Judge Barrett get

590
00:33:12,160 --> 00:33:14,640
Speaker 1: confirmed to the Supreme Court, and are and are kind

591
00:33:14,680 --> 00:33:17,680
Speaker 1: of you know, maybe I don't want to say they

592
00:33:17,720 --> 00:33:19,760
Speaker 1: don't want the President to get re elected, but they're

593
00:33:19,920 --> 00:33:22,960
Speaker 1: but they're you know, equally if not more focused on

594
00:33:23,000 --> 00:33:25,120
Speaker 1: the Supreme Court. Can you just speak to that notion

595
00:33:25,560 --> 00:33:28,120
Speaker 1: about the current dynamics that the President finds himself in

596
00:33:28,400 --> 00:33:33,040
Speaker 1: financially while this is happening on the Hill. Well, that's

597
00:33:33,120 --> 00:33:35,760
Speaker 1: the first I've ever heard of that that superpacks are

598
00:33:35,800 --> 00:33:39,400
Speaker 1: not supporting the president. I didn't say that. Wait wait, wait,

599
00:33:39,400 --> 00:33:41,880
Speaker 1: wait wait, I didn't say that. So if if you misunderstood,

600
00:33:42,120 --> 00:33:43,920
Speaker 1: let me be more clear. My father always tells me

601
00:33:44,000 --> 00:33:46,440
Speaker 1: it's it's the it's not it's the transmitter fault, not

602
00:33:46,520 --> 00:33:49,080
Speaker 1: the receiver. So I must have not asked the question

603
00:33:49,160 --> 00:33:51,840
Speaker 1: in a distinct way. Obviously, Ted, you want the president

604
00:33:51,880 --> 00:33:54,000
Speaker 1: reelected your chair of the committee to defend the president.

605
00:33:54,120 --> 00:33:56,760
Speaker 1: What I'm saying is are you having to split some

606
00:33:56,880 --> 00:33:58,760
Speaker 1: of the money, because it's been widely reported that the

607
00:33:58,760 --> 00:34:02,280
Speaker 1: president doesn't have as much money as Joe Biden, And

608
00:34:02,360 --> 00:34:05,080
Speaker 1: so the questions to use, sir, is how are you

609
00:34:05,200 --> 00:34:08,080
Speaker 1: wrestling with that as a judicial process is happening on

610
00:34:08,200 --> 00:34:11,640
Speaker 1: the hill, we're not. But we're not spending any time

611
00:34:11,840 --> 00:34:15,160
Speaker 1: on the Supreme Court hearings, and we're not spending any

612
00:34:15,200 --> 00:34:17,560
Speaker 1: money on the screen Court hearings. Where do you invest there?

613
00:34:17,760 --> 00:34:20,520
Speaker 1: Just today a million dollars in Arizona to get the

614
00:34:20,600 --> 00:34:24,239
Speaker 1: president reelected in Arizona. That s our soul focused. Okay, no, deeed.

615
00:34:24,320 --> 00:34:26,680
Speaker 1: How much of the from from your perspective as a Democrat,

616
00:34:26,760 --> 00:34:29,400
Speaker 1: how much of the Supreme Court race is is that?

617
00:34:30,160 --> 00:34:35,680
Speaker 1: Is it shaping up to to to impact? No, thank

618
00:34:35,760 --> 00:34:38,200
Speaker 1: you and sorry, Ted, didn't mean to interrupt you at

619
00:34:38,239 --> 00:34:44,600
Speaker 1: the beginning. Um. Clearly, Um, this is motivating democratic voters

620
00:34:44,800 --> 00:34:48,160
Speaker 1: and and I think the thinking now um across the

621
00:34:48,239 --> 00:34:53,760
Speaker 1: country from Democrats and independence alike, is how far we've become. Um. Certainly,

622
00:34:53,840 --> 00:34:59,120
Speaker 1: the brilliant and the of of of Judge Amy Colly

623
00:34:59,200 --> 00:35:03,359
Speaker 1: Barrett is clear without notes, absolutely, but she also did

624
00:35:03,400 --> 00:35:06,680
Speaker 1: answer a lot of questions. But we are twenty days

625
00:35:06,719 --> 00:35:11,120
Speaker 1: away from a an election that's going to determine really

626
00:35:11,880 --> 00:35:15,080
Speaker 1: anyway the future of our country, and we are talking

627
00:35:15,160 --> 00:35:18,279
Speaker 1: about a Supreme Court UH nominee is going to be

628
00:35:18,400 --> 00:35:21,719
Speaker 1: voided on the floor in all likelihood next week. I

629
00:35:21,800 --> 00:35:25,799
Speaker 1: think in that particular moment. You know, as as as

630
00:35:26,080 --> 00:35:30,120
Speaker 1: it begins to thinking, even more Democrats are motivated to

631
00:35:30,200 --> 00:35:32,719
Speaker 1: come out and vote and say this is not fair,

632
00:35:33,200 --> 00:35:35,440
Speaker 1: this is not right. I think that is the thread

633
00:35:35,560 --> 00:35:39,120
Speaker 1: that we're seeing across across the country. And look, you know,

634
00:35:39,239 --> 00:35:42,440
Speaker 1: she she did not really answer a lot of questions,

635
00:35:42,600 --> 00:35:45,440
Speaker 1: but that's that's her prerogative, certainly to be before the

636
00:35:45,480 --> 00:35:48,520
Speaker 1: committee and do that. But again, what's what's striking to

637
00:35:48,680 --> 00:35:53,080
Speaker 1: me is why the administration and leader McConnell did not

638
00:35:53,239 --> 00:35:56,560
Speaker 1: wait until after the election. Of course, the President made

639
00:35:56,600 --> 00:35:59,080
Speaker 1: it clear, you have the majority, you have the power,

640
00:35:59,400 --> 00:36:03,400
Speaker 1: you just do it, um and everything else. BP alright,

641
00:36:03,480 --> 00:36:05,239
Speaker 1: coming up, we're gonna check him with what's on the

642
00:36:05,800 --> 00:36:08,239
Speaker 1: the the panel's radar. Plus we're gonna check in with

643
00:36:08,280 --> 00:36:11,799
Speaker 1: the Bloomberg opinion columnists Max Neeson. Download the Bloomberg Sound

644
00:36:11,840 --> 00:36:14,120
Speaker 1: On podcast on Apple, it tunes, at Bloomberg dot com,

645
00:36:14,400 --> 00:36:16,479
Speaker 1: or by downloading the Bloomberg Business app. You can also

646
00:36:16,520 --> 00:36:20,840
Speaker 1: find me on Radio dot com, I Heart Radio, and Spotify.

647
00:36:21,320 --> 00:36:23,880
Speaker 1: Lots more to coming up, especially on what has been

648
00:36:23,920 --> 00:36:26,040
Speaker 1: another busy day in Washington, d C. I'm Kevin Surreally

649
00:36:26,040 --> 00:36:32,840
Speaker 1: you're listening to Bloomberg. This is Bloomberg Sound On with

650
00:36:33,040 --> 00:36:37,439
Speaker 1: Kevin Shirley on Bloomberg and one oh five point seven

651
00:36:37,560 --> 00:36:40,600
Speaker 1: f m h D two. A story I'm following. President

652
00:36:40,640 --> 00:36:42,879
Speaker 1: Trump is ramping up pressure on two of his most

653
00:36:43,000 --> 00:36:45,920
Speaker 1: loyal cabinet members to produce information that could damage Joe

654
00:36:45,920 --> 00:36:49,560
Speaker 1: Biden's prospects as Paul's Show, the former vice president leading

655
00:36:49,600 --> 00:36:52,120
Speaker 1: ahead of the November three election. President Trump spoke with

656
00:36:52,160 --> 00:36:55,160
Speaker 1: the news Max, the conservative outlet news Max that he's

657
00:36:55,160 --> 00:36:57,320
Speaker 1: said and said he's quote not happy end quote with

658
00:36:57,360 --> 00:37:00,720
Speaker 1: the evidence that he's seeing coming out of Attorney General

659
00:37:00,800 --> 00:37:04,160
Speaker 1: Bill Barr's Justice Department. This is this is why it's

660
00:37:04,239 --> 00:37:07,080
Speaker 1: it's notable. He wouldn't say whether he would keep bar

661
00:37:07,320 --> 00:37:12,160
Speaker 1: on in a second term. So that's developing. UM investoring

662
00:37:12,920 --> 00:37:17,360
Speaker 1: virtually now every hour that goes that goes uh. That

663
00:37:17,520 --> 00:37:23,200
Speaker 1: goes on another major uh development. Uh. That also Tyler

664
00:37:23,239 --> 00:37:26,120
Speaker 1: Pager reported earlier today, is that Joe Biden told donors

665
00:37:26,160 --> 00:37:29,640
Speaker 1: on Wednesday that he recently spoke by phone with billionaire

666
00:37:29,680 --> 00:37:35,280
Speaker 1: investor Warren Buffett about America's leadership role on the global stage.

667
00:37:35,560 --> 00:37:39,920
Speaker 1: He made the revelation in a virtual fundraiser. Buffett back

668
00:37:40,040 --> 00:37:42,800
Speaker 1: Hillary Clinton in two thousand and sixteen and voted for

669
00:37:43,320 --> 00:37:46,560
Speaker 1: Barack Obama in twelve but he has yet to endorse

670
00:37:46,800 --> 00:37:50,560
Speaker 1: Biden and has really tried to stay out, to stay

671
00:37:50,600 --> 00:37:53,240
Speaker 1: out of politics. All Right, I'm Kevin's really chief Washington

672
00:37:53,280 --> 00:37:56,920
Speaker 1: correspondent from Bloomberg Television and from Bloomberg Radio. I got

673
00:37:57,000 --> 00:37:58,799
Speaker 1: to it the best with me for the hour. It's

674
00:37:58,840 --> 00:38:01,719
Speaker 1: made the the Hour fly by Zad Harvey, chairman of

675
00:38:01,719 --> 00:38:04,600
Speaker 1: the Committee to Defend the President Approach Trump Superpack, former

676
00:38:04,680 --> 00:38:07,520
Speaker 1: Colorado State Senator, and a Demail Shami who was the

677
00:38:07,560 --> 00:38:11,160
Speaker 1: former chief of staff to the House Speaker Nancy Pelosi. Nadem,

678
00:38:11,200 --> 00:38:13,360
Speaker 1: it's time now for my favorite part of the program,

679
00:38:13,840 --> 00:38:16,880
Speaker 1: which is called what is on Your Radar? And it's

680
00:38:16,920 --> 00:38:19,040
Speaker 1: where you tell me about a story that isn't getting

681
00:38:19,160 --> 00:38:21,840
Speaker 1: enough attention that you think it should. Nadem, What's on

682
00:38:21,920 --> 00:38:25,799
Speaker 1: your radar? Sure, not absolutely, And and this has been

683
00:38:25,800 --> 00:38:29,560
Speaker 1: a little bit on everyone's radar. But it's suburban women

684
00:38:29,760 --> 00:38:32,719
Speaker 1: and suburban women voters going to Biden. But I think

685
00:38:32,760 --> 00:38:35,879
Speaker 1: what we have to watch for here is if there's

686
00:38:35,920 --> 00:38:39,600
Speaker 1: going to be any um let down of that voter

687
00:38:39,880 --> 00:38:44,239
Speaker 1: enthusiasm by suburban women's who actually helped drive Democrats to

688
00:38:44,280 --> 00:38:47,960
Speaker 1: the majority in I think over the next couple of weeks,

689
00:38:48,400 --> 00:38:50,919
Speaker 1: and I've been watching UM a lot of polling leading,

690
00:38:50,920 --> 00:38:53,200
Speaker 1: a lot of polling memos, and looking at cross tabs

691
00:38:53,640 --> 00:38:57,800
Speaker 1: to see if there's any leakage from the Biden support

692
00:38:57,920 --> 00:39:00,719
Speaker 1: from the Democratic support to the president, because I think

693
00:39:00,760 --> 00:39:04,080
Speaker 1: that's a very important indicator. If the vice president remains

694
00:39:04,120 --> 00:39:06,040
Speaker 1: where he is at the moment of suburban women, I

695
00:39:06,080 --> 00:39:08,760
Speaker 1: think he's in good shape. But if not, if there's

696
00:39:08,800 --> 00:39:13,000
Speaker 1: any uh, any narrowing at the gap, and I think, uh,

697
00:39:13,600 --> 00:39:15,200
Speaker 1: I think we could see at the type of race.

698
00:39:15,280 --> 00:39:17,160
Speaker 1: But well, Ted Harvey before I got it's on your

699
00:39:17,200 --> 00:39:19,279
Speaker 1: radar way in on this because you're the money guy.

700
00:39:19,640 --> 00:39:21,719
Speaker 1: You've got you've got your sick with that. So what

701
00:39:22,320 --> 00:39:25,120
Speaker 1: it's truly what? What? What are? How do you make

702
00:39:25,200 --> 00:39:27,640
Speaker 1: a debt on the point that Nadeam's talking about and

703
00:39:27,840 --> 00:39:32,440
Speaker 1: and have President Trump went back some suburban women voters. Well,

704
00:39:32,480 --> 00:39:34,320
Speaker 1: it's interesting because that was one of the issues I

705
00:39:34,480 --> 00:39:37,440
Speaker 1: was debating whether I should bring up, is the fact

706
00:39:37,520 --> 00:39:42,280
Speaker 1: that the suburban women their supportive vice president UM Biden

707
00:39:42,520 --> 00:39:46,800
Speaker 1: is cratering because of how radical the Democrat Party has become.

708
00:39:46,920 --> 00:39:51,960
Speaker 1: Especially in their support of these um rioters in the

709
00:39:52,040 --> 00:39:55,240
Speaker 1: inner cities of Seattle and Portland and Chicago and across

710
00:39:55,320 --> 00:39:58,400
Speaker 1: the country. They're looking at that and they're saying that's

711
00:39:59,280 --> 00:40:00,960
Speaker 1: I'm worried at out because they're going to be coming

712
00:40:00,960 --> 00:40:02,600
Speaker 1: out to the suburbs. I'm worried if they're going to

713
00:40:02,640 --> 00:40:06,839
Speaker 1: be um threatening my family and that that you are.

714
00:40:07,080 --> 00:40:11,200
Speaker 1: We are seeing support by suburban mothers dropped across the

715
00:40:11,239 --> 00:40:14,440
Speaker 1: country because of that, especially in Arizona. And we are,

716
00:40:14,480 --> 00:40:16,560
Speaker 1: like I said, we're spending a million dollars in Arizona

717
00:40:16,600 --> 00:40:20,400
Speaker 1: on that very message to suburban women. All Right, fascinating,

718
00:40:20,440 --> 00:40:22,960
Speaker 1: fascinating dynamics. And of course the president back out on

719
00:40:23,040 --> 00:40:25,920
Speaker 1: the campaign trail speaking to that point just the other night,

720
00:40:26,000 --> 00:40:28,920
Speaker 1: and and and made that point exactly. It said that

721
00:40:29,040 --> 00:40:32,600
Speaker 1: law and order issue is definitely something that they are

722
00:40:32,760 --> 00:40:36,279
Speaker 1: that they're really hammering hammering home. Okay, Ted, what's on

723
00:40:36,360 --> 00:40:40,200
Speaker 1: your radar? Well, I think it was really interesting. My

724
00:40:40,880 --> 00:40:43,680
Speaker 1: my side of offense was always questioning the Democrats and

725
00:40:43,800 --> 00:40:48,000
Speaker 1: why they were doing the Ukrainian impeachment hearings when it

726
00:40:48,160 --> 00:40:50,919
Speaker 1: appeared that the only casualty out of that was Joe

727
00:40:50,960 --> 00:40:54,520
Speaker 1: Biden and and Hunter Biden, and they continue to go

728
00:40:54,800 --> 00:40:57,640
Speaker 1: forward with it. And what came out yesterday or this

729
00:40:57,800 --> 00:41:00,840
Speaker 1: morning in the New York Post the eils showing that

730
00:41:01,040 --> 00:41:05,400
Speaker 1: Joe Biden was um disingenuous at best or lying to

731
00:41:05,440 --> 00:41:07,759
Speaker 1: the American people at worst when he said that he

732
00:41:07,960 --> 00:41:12,720
Speaker 1: never discussed Hunter Biden's work with anybody in the Ukraine

733
00:41:12,760 --> 00:41:15,760
Speaker 1: when he was the point person for the administration in Ukraine.

734
00:41:15,800 --> 00:41:19,799
Speaker 1: And now emails have come out today that show that, um,

735
00:41:20,239 --> 00:41:23,800
Speaker 1: there were meetings with Hunter and the vice president and

736
00:41:24,400 --> 00:41:29,120
Speaker 1: leadership in the Ukraine UM when the Joe Biden was

737
00:41:29,200 --> 00:41:31,920
Speaker 1: vice president and using his influence to try to help

738
00:41:32,000 --> 00:41:35,000
Speaker 1: his son out. And that's a big, big, big story

739
00:41:35,080 --> 00:41:38,320
Speaker 1: that I think is going to become a major story

740
00:41:38,400 --> 00:41:40,360
Speaker 1: in the in the next coming weeks. I want to

741
00:41:40,440 --> 00:41:43,000
Speaker 1: make sure that I'm careful here because the Biden campaign

742
00:41:43,120 --> 00:41:46,239
Speaker 1: is obviously they put out statements questioning the validity of

743
00:41:46,320 --> 00:41:49,520
Speaker 1: that reporting, and of course the Trump campaign pushing back

744
00:41:49,560 --> 00:41:53,959
Speaker 1: and raising questions. Uh, I'm gonna put this out there

745
00:41:54,120 --> 00:41:56,759
Speaker 1: to just I think it fits well with what's on

746
00:41:56,800 --> 00:41:58,880
Speaker 1: your radar? Did anyone read Mike Allen this morning at

747
00:41:58,880 --> 00:42:01,560
Speaker 1: Axios over an axio us His one big thing I'm

748
00:42:01,560 --> 00:42:04,719
Speaker 1: reading from Mike Allen quote, Joe Biden is the luckiest,

749
00:42:05,160 --> 00:42:08,600
Speaker 1: least scrutinized front runner. Eight months ago, according to Mike Allen,

750
00:42:08,680 --> 00:42:11,680
Speaker 1: Joe Biden was in danger of losing the Democratic nomination.

751
00:42:11,760 --> 00:42:14,759
Speaker 1: Now he's a prohibitive favorite for president who got there

752
00:42:14,800 --> 00:42:18,120
Speaker 1: with lots of luck and shockingly little scrutiny. The media's

753
00:42:18,160 --> 00:42:20,920
Speaker 1: obsession with President Trump and Trump's compulsion to dominate the

754
00:42:20,960 --> 00:42:26,080
Speaker 1: news allowed Biden to purposely and persistently minimize public appearances

755
00:42:26,560 --> 00:42:31,120
Speaker 1: and tough questions. Since August thirty one, Biden has answered

756
00:42:31,200 --> 00:42:33,480
Speaker 1: less than half as many questions from the press as

757
00:42:33,560 --> 00:42:36,399
Speaker 1: President Trump. Three hundred and sixty five for Trump, seven

758
00:42:36,480 --> 00:42:40,319
Speaker 1: hundred and fifty three for Joe Biden. I'm sorry, three

759
00:42:41,160 --> 00:42:44,400
Speaker 1: for Biden, seven hundred and fifty three for President Trump's

760
00:42:44,440 --> 00:42:49,080
Speaker 1: at Harvey, that's Mike Gallen. And you look at the

761
00:42:49,160 --> 00:42:52,600
Speaker 1: questions that were asked of Biden. They were all softball questions.

762
00:42:52,640 --> 00:42:54,560
Speaker 1: But to your point, I mean, does this frustrate you

763
00:42:54,800 --> 00:42:56,759
Speaker 1: that that because truly, I mean, you've you've got a

764
00:42:56,760 --> 00:43:00,600
Speaker 1: superpack for for the president, and and you know, whether

765
00:43:00,680 --> 00:43:05,360
Speaker 1: successfully or not, Biden has been able to stay on message,

766
00:43:05,400 --> 00:43:07,879
Speaker 1: which is is that frustrating? I don't think. I don't

767
00:43:07,920 --> 00:43:10,400
Speaker 1: think he's had a message. I I think what's frustrating

768
00:43:10,480 --> 00:43:13,640
Speaker 1: for me is that the press is not reporting the

769
00:43:13,760 --> 00:43:17,520
Speaker 1: president's incredible success is whether it is successes in the

770
00:43:17,560 --> 00:43:21,800
Speaker 1: Middle East and passing peace agreement between the U a E.

771
00:43:22,000 --> 00:43:23,960
Speaker 1: And both Horrain in Israel, that is, that is the

772
00:43:24,040 --> 00:43:29,319
Speaker 1: first time ever Israel's history that an Arab nation has

773
00:43:29,680 --> 00:43:33,160
Speaker 1: has said that, yes, Israel is a sovereign state. Um.

774
00:43:33,600 --> 00:43:36,200
Speaker 1: I think that is significant, and I think the press

775
00:43:36,320 --> 00:43:39,480
Speaker 1: downplayed that. I think the fact that the president has

776
00:43:39,560 --> 00:43:42,560
Speaker 1: successfully worked with NATO to get NATO countries to be

777
00:43:42,640 --> 00:43:46,280
Speaker 1: able to come forward and pay their fair share in NATO,

778
00:43:46,880 --> 00:43:50,160
Speaker 1: his his agreements were on maskall those things. I think

779
00:43:50,200 --> 00:43:55,960
Speaker 1: the press and yeah, but I well, you know, I

780
00:43:56,120 --> 00:43:57,560
Speaker 1: hear that's what's on your radar, and I hear you

781
00:43:57,800 --> 00:43:59,720
Speaker 1: and we've we've covered all those stories on this program.

782
00:43:59,760 --> 00:44:01,399
Speaker 1: Anyone and he listens to the show, all right, here's

783
00:44:01,400 --> 00:44:04,080
Speaker 1: what's on my radar. TikTok. We haven't talked about TikTok

784
00:44:04,400 --> 00:44:06,879
Speaker 1: in a while. TikTok asked a federal judge to block

785
00:44:06,960 --> 00:44:10,480
Speaker 1: a broad set of government restrictions designed to curb use

786
00:44:10,560 --> 00:44:13,640
Speaker 1: of the Chinese owned video sharing app in the United States.

787
00:44:13,960 --> 00:44:16,960
Speaker 1: Less than three weeks after the company succeeded in halting

788
00:44:17,320 --> 00:44:22,520
Speaker 1: the Trump administration's ban on new downloads, US District Judge

789
00:44:22,680 --> 00:44:27,400
Speaker 1: Carl Nichols in Washington blocked the download ban on September

790
00:44:27,440 --> 00:44:31,440
Speaker 1: twenty seven, ruling that the US likely exceeded its legal

791
00:44:31,560 --> 00:44:35,920
Speaker 1: authority under the Emergency Power Statute it invoked to justify

792
00:44:36,120 --> 00:44:39,760
Speaker 1: the prohibition. TikTok on Wednesday, asked the judge to issue

793
00:44:39,760 --> 00:44:43,040
Speaker 1: in a junction against the proposed rules forbidding companies from

794
00:44:43,200 --> 00:44:46,200
Speaker 1: providing the underlying web services that make the app accessible

795
00:44:46,480 --> 00:44:48,200
Speaker 1: in the US and email Shaan me, former chief of

796
00:44:48,200 --> 00:44:51,279
Speaker 1: staffs at House Democratic Leader Nancy Pelosi Nadim. You know,

797
00:44:51,760 --> 00:44:53,759
Speaker 1: we talked about China so much on this show and

798
00:44:53,880 --> 00:44:56,800
Speaker 1: a how how it's the one area where Republicans and

799
00:44:56,840 --> 00:45:01,040
Speaker 1: Democrats in Congress actually there is a common ground. But

800
00:45:01,120 --> 00:45:02,879
Speaker 1: on the issue of TikTok, I mean it said, it's

801
00:45:03,080 --> 00:45:06,719
Speaker 1: really just an illustration, I would argue of where the

802
00:45:06,800 --> 00:45:11,400
Speaker 1: fight is headed regardless of who Uh is. Uh is

803
00:45:11,440 --> 00:45:13,279
Speaker 1: in the White House, but China, I mean, the US

804
00:45:13,360 --> 00:45:16,399
Speaker 1: is going to take a more aggressive stance against China,

805
00:45:16,440 --> 00:45:19,840
Speaker 1: not to name no. I think you're absolutely right. I

806
00:45:19,880 --> 00:45:21,719
Speaker 1: don't think it's just TikTok, but I think it's other

807
00:45:21,800 --> 00:45:24,719
Speaker 1: issues as well. And you know, he started off with

808
00:45:24,800 --> 00:45:27,000
Speaker 1: the human rights issues when when I was working for

809
00:45:27,080 --> 00:45:29,080
Speaker 1: the Speaker, and it was it was actually that brought

810
00:45:29,160 --> 00:45:31,480
Speaker 1: by part of the support and there was some very

811
00:45:31,560 --> 00:45:34,400
Speaker 1: strange bed fellows in this in this coal mission and

812
00:45:34,480 --> 00:45:38,000
Speaker 1: went on to intellectual property UM and intellectual property and

813
00:45:38,120 --> 00:45:41,840
Speaker 1: and theft of technology UM and forced technology transfers. That

814
00:45:41,920 --> 00:45:45,000
Speaker 1: continued on and then now there's a concern about some

815
00:45:45,120 --> 00:45:48,000
Speaker 1: of the actions by some of these UM companies in

816
00:45:48,040 --> 00:45:51,280
Speaker 1: the US. So I think overall there is a strong

817
00:45:51,480 --> 00:45:55,520
Speaker 1: appetite to find uh the solution and a bipart of

818
00:45:55,560 --> 00:45:58,400
Speaker 1: the solution uh to uh to you know, to the

819
00:45:58,480 --> 00:46:00,160
Speaker 1: China issue. Have you got to leave it? Are and

820
00:46:00,200 --> 00:46:01,960
Speaker 1: ad email Sean me Ted Harvey, thank you so much

821
00:46:02,000 --> 00:46:03,800
Speaker 1: for joining me for the hour. Coming up next, we

822
00:46:03,920 --> 00:46:06,320
Speaker 1: check in with Max Nisson over at Bloomberg Opinion. Download

823
00:46:06,320 --> 00:46:09,120
Speaker 1: The Bloomberg Down On podcast on Apple iTunes and Bloomberg

824
00:46:09,160 --> 00:46:12,120
Speaker 1: dot Com, or by downloading the Bloomberg Business app. You

825
00:46:12,239 --> 00:46:16,399
Speaker 1: can also find me on radio dot Com, I Heart

826
00:46:16,560 --> 00:46:19,440
Speaker 1: Radio and Spotify. My name is Kevin Cereli. You're listening

827
00:46:19,480 --> 00:46:26,720
Speaker 1: to Bloomberg. This is Bloomberg's Sound On with Kevin Surreley

828
00:46:27,040 --> 00:46:30,680
Speaker 1: on Bloomberg and one oh five point seven f M

829
00:46:30,840 --> 00:46:36,640
Speaker 1: h D two. I'm Kevin Serelli. I'm the chief Washington

830
00:46:36,680 --> 00:46:39,320
Speaker 1: correspondent for Bomberg Television and for Bloomberg Radio. Thank you

831
00:46:39,360 --> 00:46:43,440
Speaker 1: so much for tuning in, for listening. Um, you know

832
00:46:43,520 --> 00:46:47,840
Speaker 1: we're trying our best hump day, uh, and I appreciate it.

833
00:46:48,080 --> 00:46:51,640
Speaker 1: I appreciate it for for you making the time with

834
00:46:51,719 --> 00:46:54,600
Speaker 1: me and and tuning in. UM, my next guest, so

835
00:46:54,800 --> 00:46:58,120
Speaker 1: great to have him, to have him on. We even

836
00:46:58,239 --> 00:47:00,560
Speaker 1: ripped the script it up to quote Tom Keen. I

837
00:47:00,680 --> 00:47:03,359
Speaker 1: ripped up the script. I said, Barata, we're doing what's

838
00:47:03,400 --> 00:47:05,759
Speaker 1: on your radar earlier, and we're doing this segment with

839
00:47:05,840 --> 00:47:08,520
Speaker 1: Max and the m Max Nson is a Bloomberg opinion

840
00:47:08,560 --> 00:47:11,680
Speaker 1: columnists covering biotech, farma, and healthcare. He previously wrote about

841
00:47:11,719 --> 00:47:17,480
Speaker 1: management and corporate strategy for Courts and Business Insider, and um,

842
00:47:18,600 --> 00:47:20,759
Speaker 1: we got to talk about the vaccinations. There's a story

843
00:47:20,840 --> 00:47:23,800
Speaker 1: out Max on the Bloomberg terminal today by our colleague

844
00:47:24,200 --> 00:47:27,440
Speaker 1: Naomi chrest G, who writes side effects that have emerged

845
00:47:27,560 --> 00:47:34,960
Speaker 1: in a large state. A large state, I can't have focused, buddy, large.

846
00:47:35,280 --> 00:47:37,600
Speaker 1: Here we go, reading from Bloomberg. Terminal side effects that

847
00:47:37,640 --> 00:47:40,759
Speaker 1: have emerged in a large late stage trial of a

848
00:47:40,840 --> 00:47:44,920
Speaker 1: COVID nineteen vaccine candidate from Fiser and bionottech Se are

849
00:47:44,960 --> 00:47:47,759
Speaker 1: in line with those seen in smaller early studies, A

850
00:47:47,880 --> 00:47:50,200
Speaker 1: positive sign for one of the front runners in the

851
00:47:50,360 --> 00:47:53,879
Speaker 1: race for a vaccine. The partners haven't had to stop

852
00:47:53,960 --> 00:47:57,480
Speaker 1: their late stage study over safety concerns. Uh, this according

853
00:47:57,520 --> 00:48:00,440
Speaker 1: to the bion Attech CEO, and their sticking with their

854
00:48:00,480 --> 00:48:03,879
Speaker 1: previously announced target of being able to show as soon

855
00:48:04,040 --> 00:48:06,760
Speaker 1: as this month whether the vaccine works. So some positive

856
00:48:06,840 --> 00:48:10,000
Speaker 1: news Max on the vaccination front. You've been you've been

857
00:48:10,080 --> 00:48:14,360
Speaker 1: writing about all of this. I have, yeah, and and

858
00:48:14,560 --> 00:48:18,160
Speaker 1: that's certainly what you want to be seeing from a

859
00:48:18,320 --> 00:48:22,560
Speaker 1: large ongoing trial. Um. You know, these are vaccines that

860
00:48:22,600 --> 00:48:27,240
Speaker 1: are going to be intended for millions, possibly billions of people,

861
00:48:27,400 --> 00:48:30,360
Speaker 1: so there is a high bar on safety, which is

862
00:48:30,400 --> 00:48:33,839
Speaker 1: why you've seen those those pauses and other trials where

863
00:48:33,840 --> 00:48:38,160
Speaker 1: there have been potential safety issues. So, um, good news

864
00:48:38,280 --> 00:48:40,880
Speaker 1: that they're progressing onward, and in the fact that there

865
00:48:40,880 --> 00:48:44,640
Speaker 1: are these potential delays for those other vaccines UM keeps

866
00:48:44,640 --> 00:48:48,360
Speaker 1: a little bit of extra pressure on that particular program.

867
00:48:48,480 --> 00:48:51,880
Speaker 1: And another from Maderna that there are basically, you know,

868
00:48:52,000 --> 00:48:55,040
Speaker 1: probably the only two hopes at this point unless there's

869
00:48:55,040 --> 00:48:58,480
Speaker 1: a really rapid resumption of those other trials of getting

870
00:48:59,040 --> 00:49:03,760
Speaker 1: vaccine data and a potential approval sometime this year, although

871
00:49:03,840 --> 00:49:07,839
Speaker 1: I will note that in that case, supplies will still

872
00:49:07,960 --> 00:49:12,279
Speaker 1: be quite limited. So you write in this in one

873
00:49:12,360 --> 00:49:15,439
Speaker 1: of your two columns out this week, horrifying COVID chart

874
00:49:15,800 --> 00:49:18,840
Speaker 1: still frightens months later, tell us about the chart that

875
00:49:19,120 --> 00:49:23,560
Speaker 1: that has you worried. Sure. So this was something I

876
00:49:23,719 --> 00:49:26,920
Speaker 1: first looked at back in June when the US was

877
00:49:27,000 --> 00:49:30,360
Speaker 1: starting to see it's it's big kind of renewed optick.

878
00:49:30,520 --> 00:49:34,800
Speaker 1: As Europe had UM almost universally really low case counts,

879
00:49:35,320 --> 00:49:38,479
Speaker 1: and it was a function of most European countries having

880
00:49:39,400 --> 00:49:42,719
Speaker 1: stayed pretty locked down until they got case counts quite low.

881
00:49:43,320 --> 00:49:46,240
Speaker 1: Has put to the U s where you had early

882
00:49:46,280 --> 00:49:49,360
Speaker 1: a patchwork and a lot of kind of premature and

883
00:49:49,680 --> 00:49:53,680
Speaker 1: quite wide openings where cases weren't actually that low. They

884
00:49:53,719 --> 00:49:56,279
Speaker 1: were just at a plateau the curve had been bent

885
00:49:56,560 --> 00:50:00,200
Speaker 1: rather than crushed, and of course the inevitable results as

886
00:50:00,680 --> 00:50:04,200
Speaker 1: um you know, a series of outbreaks that really never

887
00:50:04,640 --> 00:50:08,040
Speaker 1: quite or fully resolved in the same way that the

888
00:50:08,120 --> 00:50:11,680
Speaker 1: spring outbreaks worts you've had relative to Europe, this really

889
00:50:11,800 --> 00:50:16,640
Speaker 1: consistently high plateau, this much higher you know, daily creeping

890
00:50:16,719 --> 00:50:20,200
Speaker 1: death toll um and and now you have the second

891
00:50:20,239 --> 00:50:23,840
Speaker 1: wave in Europe in conjunction with rising cases again in

892
00:50:23,920 --> 00:50:27,839
Speaker 1: the US heading into the winter, which just about every

893
00:50:27,880 --> 00:50:31,520
Speaker 1: epidemiologist you'll speak to will stay as an area particular

894
00:50:31,560 --> 00:50:34,640
Speaker 1: concern because it's much harder to do anything outside when

895
00:50:34,680 --> 00:50:40,000
Speaker 1: it's cold. So it really is uh concerning moment even

896
00:50:40,120 --> 00:50:43,000
Speaker 1: relative to the summer, because you've got these big outbreaks

897
00:50:43,040 --> 00:50:46,920
Speaker 1: on on both sides of the Atlantic, and some concern

898
00:50:47,080 --> 00:50:50,400
Speaker 1: over whether they'll be manageable because it's going to be

899
00:50:50,480 --> 00:50:54,239
Speaker 1: harder in winter general, and because of just general exhaustion

900
00:50:54,440 --> 00:50:59,200
Speaker 1: with mitigation efforts and politicization to bring these particular outbreaks

901
00:50:59,280 --> 00:51:01,880
Speaker 1: under control. So what can be done, I mean, what

902
00:51:01,960 --> 00:51:04,880
Speaker 1: do you think a policymakers should be doing, uh to

903
00:51:05,520 --> 00:51:09,640
Speaker 1: maybe ease some of the concerns about this data. I

904
00:51:10,200 --> 00:51:13,040
Speaker 1: think it is going to take some amount of of

905
00:51:13,239 --> 00:51:18,640
Speaker 1: stepping up. UH social distancing measure is probably closing some

906
00:51:18,840 --> 00:51:21,640
Speaker 1: of those areas that are at most risk. You know

907
00:51:21,760 --> 00:51:25,360
Speaker 1: eight places where people gather indoors and particularly if they

908
00:51:25,440 --> 00:51:28,360
Speaker 1: do so without master seeing a lot of far closures

909
00:51:28,480 --> 00:51:32,600
Speaker 1: restaurants or look capacity limits, further limits on gathering size.

910
00:51:32,880 --> 00:51:34,920
Speaker 1: Those are sort of the blunt tools that you have

911
00:51:35,160 --> 00:51:38,279
Speaker 1: to do. And you couple that with UM, you know,

912
00:51:38,840 --> 00:51:43,640
Speaker 1: trying to enforce mass mandates, broad surveillance testing. It's not

913
00:51:43,760 --> 00:51:47,200
Speaker 1: a secret what works, it's just committing to it, and

914
00:51:47,600 --> 00:51:51,360
Speaker 1: beyond that, UM actually being willing to to make data

915
00:51:51,440 --> 00:51:54,240
Speaker 1: based decisions about when you need to put those measures

916
00:51:54,320 --> 00:51:57,000
Speaker 1: back in place, because if you do it late, they

917
00:51:57,120 --> 00:52:00,279
Speaker 1: take a really long time to work because infects are

918
00:52:00,280 --> 00:52:02,719
Speaker 1: already out in the community. And when you reach a

919
00:52:02,760 --> 00:52:06,040
Speaker 1: certain point, it's it's not the transmission in bars and restaurants,

920
00:52:06,440 --> 00:52:08,880
Speaker 1: it's the thousands of people that are transmitting it at

921
00:52:08,960 --> 00:52:11,040
Speaker 1: home that you worry about. So even when you take

922
00:52:11,080 --> 00:52:13,560
Speaker 1: measures takes well. So you have to be quick to act.

923
00:52:13,719 --> 00:52:16,279
Speaker 1: If you want to do targeted measures, are willing to

924
00:52:16,400 --> 00:52:19,840
Speaker 1: commit to them for the long term, not declare early victory,

925
00:52:19,920 --> 00:52:22,239
Speaker 1: which is you know what has gotten United States and

926
00:52:22,320 --> 00:52:24,759
Speaker 1: other countries and a lot of trouble. Max Neeson's and

927
00:52:24,840 --> 00:52:28,800
Speaker 1: as he's a Bloomberg opinion columnists covering biotech, pharma, and healthcare,

928
00:52:28,840 --> 00:52:32,480
Speaker 1: He's previously wrote about management and corporate strategy for Courts

929
00:52:32,520 --> 00:52:35,400
Speaker 1: and Business Insider. Your new column, Max is just great,

930
00:52:35,480 --> 00:52:37,920
Speaker 1: read brilliant read, Go onto the terminal, folks read this.

931
00:52:38,440 --> 00:52:41,759
Speaker 1: Johnson and Johnson holders have vaccine fixation. Like everybody else,

932
00:52:41,880 --> 00:52:45,920
Speaker 1: the world just got another reminder that vaccine development isn't easy.

933
00:52:46,360 --> 00:52:48,800
Speaker 1: Johnson and Johnson announced Monday that it was pausing the

934
00:52:48,880 --> 00:52:52,840
Speaker 1: sixty person trial of its COVID nineteen vaccine three weeks

935
00:52:52,920 --> 00:52:55,520
Speaker 1: after it started because of an unexplained illness, and the

936
00:52:55,560 --> 00:52:59,160
Speaker 1: participant now obviously viser and by un attack came out today,

937
00:52:59,680 --> 00:53:03,320
Speaker 1: uh and said that their trials remain on on track.

938
00:53:04,080 --> 00:53:08,480
Speaker 1: Um and but you know we're in't quarterly earning season.

939
00:53:08,640 --> 00:53:10,880
Speaker 1: I mean, Max, this is there's so much going on

940
00:53:11,000 --> 00:53:12,920
Speaker 1: at these vaccine and the news and how it's impacting

941
00:53:13,040 --> 00:53:18,680
Speaker 1: shareholders and obviously how it's impacting the public too more importantly. Yeah, absolutely,

942
00:53:18,760 --> 00:53:21,719
Speaker 1: I mean this is, by by any measure, probably the

943
00:53:21,840 --> 00:53:26,320
Speaker 1: most watched series of clinical trials and and um, you

944
00:53:26,360 --> 00:53:29,040
Speaker 1: know drug company results ever. You know, it's usually just

945
00:53:29,239 --> 00:53:32,759
Speaker 1: me and a few other people. Um, but you know,

946
00:53:32,840 --> 00:53:36,319
Speaker 1: at this point, the you know, the pup, the world,

947
00:53:36,440 --> 00:53:39,880
Speaker 1: the global economy is at stake, so naturally there's a

948
00:53:39,920 --> 00:53:43,120
Speaker 1: lot more attention from the Johnson Johnson pause. I think

949
00:53:43,160 --> 00:53:46,680
Speaker 1: it's important to emphasize that when you have large trials

950
00:53:46,920 --> 00:53:50,520
Speaker 1: these you know, you are eventually gonna quite likely see

951
00:53:50,600 --> 00:53:53,600
Speaker 1: some safety issues. There's a lot of variation within the population.

952
00:53:54,080 --> 00:53:56,319
Speaker 1: That's why you want to run trials to figure these

953
00:53:56,360 --> 00:53:58,960
Speaker 1: things out. And for this particular instance, we don't actually

954
00:53:59,080 --> 00:54:01,719
Speaker 1: know whether it was an effect of the vaccine or

955
00:54:01,800 --> 00:54:04,400
Speaker 1: something to be concerned about. But I do think what

956
00:54:04,880 --> 00:54:07,919
Speaker 1: this drives home is that, um, you know, going back

957
00:54:07,960 --> 00:54:11,400
Speaker 1: to that chart and the continuing threat of the virus um,

958
00:54:11,520 --> 00:54:13,320
Speaker 1: the vaccine is not going to be a silver bullet,

959
00:54:13,400 --> 00:54:16,080
Speaker 1: even if things continue to go back well for that

960
00:54:16,280 --> 00:54:19,000
Speaker 1: visor and by intech vaccine, we don't know exactly how

961
00:54:19,080 --> 00:54:21,800
Speaker 1: effective it's going to be. It may, you know, be

962
00:54:22,000 --> 00:54:26,919
Speaker 1: modestly effective at preventing disease, it might not actually prevent transmission.

963
00:54:27,320 --> 00:54:29,680
Speaker 1: So unless you have a really high rate of vaccination,

964
00:54:30,160 --> 00:54:33,279
Speaker 1: pandemic still very much going to be in place, still

965
00:54:33,280 --> 00:54:35,239
Speaker 1: going to be a threat, so it's going to be

966
00:54:35,320 --> 00:54:39,200
Speaker 1: important to both. I got to ask you this last

967
00:54:39,280 --> 00:54:41,480
Speaker 1: question because I only have a minute left. When are

968
00:54:41,520 --> 00:54:45,680
Speaker 1: we going to have a vaccine? UM? There that there

969
00:54:45,719 --> 00:54:48,239
Speaker 1: are two different answers that question. It's possibly you have

970
00:54:48,400 --> 00:54:52,240
Speaker 1: an authorization sometime this year. You will not have wide

971
00:54:52,239 --> 00:54:56,239
Speaker 1: availability on a population level until next year, and then

972
00:54:56,360 --> 00:55:00,640
Speaker 1: probably UM could bit into it because of manufact constraints

973
00:55:00,920 --> 00:55:04,359
Speaker 1: and everything involved in actually getting shots and arms, which

974
00:55:04,440 --> 00:55:07,319
Speaker 1: is a very complicated piece that doesn't get talked talked

975
00:55:07,320 --> 00:55:10,000
Speaker 1: about enough. All Right, we're gonna leave it there. Thank

976
00:55:10,040 --> 00:55:12,160
Speaker 1: you so much. Max Neeson's truly thank you. I read

977
00:55:12,239 --> 00:55:15,799
Speaker 1: all I I love reading your reports because they're they're

978
00:55:15,840 --> 00:55:19,960
Speaker 1: so incredibly, so incredibly smart. I'm I'm Kevin's really chief

979
00:55:20,000 --> 00:55:22,239
Speaker 1: Washington correspondent f for Bloomberg TV and Radio, and you're

980
00:55:22,280 --> 00:55:23,839
Speaker 1: listening to Bloomberg nine nine one