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Speaker 1: Now from our nation's capital. This is Bloomberg Sound On.

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Speaker 1: We had a good discussion on ensuring global energy security.

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Speaker 1: We just heard from Jamaal Ka, Shogi's wife. I was

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Speaker 1: straightforward and direct in discussing it. I made my view

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Speaker 1: crystal clear. Bloomberg sound On Politics, policy and perspective from

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Speaker 1: DC's top name. They don't seem to have many answers.

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Speaker 1: If not a nuclear agreement which is not going to

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Speaker 1: satisfy Israel, then what Russian and Chinese are lambing hard

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Speaker 1: throughout the g c C to find friends and and

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Speaker 1: extend their influence. At Bloomberg Sound On with Joe Matthew

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Speaker 1: on Bloomberg Radio, it was the fist bump heard round

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Speaker 1: the world. Welcome to the fastest hour in politics. As

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Speaker 1: President Biden makes his way to Saudi Arabia at last

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Speaker 1: fist Bumps, MBS talks shog but does not get very

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Speaker 1: specific about oil. We'll have a lot more on the

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Speaker 1: trip coming up. As Senator Joe Mansion back home puts

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Speaker 1: Democrats reconciliation hopes on ICE and the Chip Act. They

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Speaker 1: move all on its own now we'll discuss it all

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Speaker 1: coming up with Congressman John Katko Republican from New York

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Speaker 1: and with our panel al modern democratic strategist, joined by

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Speaker 1: Rick Davis, of course, Bloomberg Politics contributor partner at stone

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Speaker 1: Court Capital. Later on we turned to COVID cases surging

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Speaker 1: in cities around the country thanks to a new sub variant.

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Speaker 1: I spoke earlier today with Dr Anthony Fauci, and later

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Speaker 1: we will discuss the return to work here in New

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Speaker 1: York with Sally Bakewell of Bloomberg News. That President wrapping

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Speaker 1: the trip to Saudi Arabia, at least almost He arrived

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Speaker 1: in Jettah today. This is a four day trip abroad

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Speaker 1: to the Middle East, and says he expects further oil

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Speaker 1: supply increases from Saudi Arabia after meeting today with the

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Speaker 1: kingdom's rulers. Yes, that included MBS. People were breathless as

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Speaker 1: the two met on the red carpet and a fist

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Speaker 1: bump happened. I'm hearing more about the fist bump, though,

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Speaker 1: than the policy. When it comes to energy, Let's hear

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Speaker 1: it from the president's own words. He did speak and

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Speaker 1: take questions from reporters. A short time ago. We had

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Speaker 1: a good discussion on ensuring global energy security and adequate

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Speaker 1: oil supplies to support global economic growth, and that will

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Speaker 1: begin shortly and uh, and I'm doing all I can

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Speaker 1: to increase the supply for the United States of America,

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Speaker 1: which I expect to happen as Alreadys shared that urgency,

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Speaker 1: and based on our discussions today, I expect we'll see

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Speaker 1: further steps in the coming weeks. So that's it, though,

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Speaker 1: no three million barrels in the back of Air Force

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Speaker 1: one as he flies back. The whope here is I'm

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Speaker 1: guessing what we've been hearing, and that is creating a

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Speaker 1: bit of a stir and submergency underneath the next OPEC meeting.

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Speaker 1: This is where we start our conversation today with Congressman

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Speaker 1: John Katko, Republican from New York, ranking member on the

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Speaker 1: House Homeland Security Committee. It's great to have you back, Congressman.

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Speaker 1: There's a few things I'd love to talk about with you.

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Speaker 1: Starting with this trip is the president's journey to Israel

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Speaker 1: and now Saudi Arabia. One that makes a man a

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Speaker 1: safer well, I don't know if it makes Americas safer,

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Speaker 1: but what it does is at least gives them, uh

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Speaker 1: some attention, which is critically important as we all know

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Speaker 1: the Middle East is a hornet's nest of issues, some positive,

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Speaker 1: some negative. Of course. On one hand, unfortunately now that

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Speaker 1: we're a net import of oil again as as opposed,

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Speaker 1: I'm that export like we were in the previous administration

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Speaker 1: in the way some more important. So Saudi raid is

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Speaker 1: actually a very important partner. On the other hand, there

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Speaker 1: are human rights. The record is abysmal, and we have

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Speaker 1: to deal with that. And showing some love and recognition

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Speaker 1: to Israel is always good. There are they're they're the

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Speaker 1: bastion of democracy in the Middle East, and that's a

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Speaker 1: very very important thing to do as well. So lots

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Speaker 1: of thorny issues about any time we go over there.

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Speaker 1: I think it's a good thing. Okay, this is uh,

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Speaker 1: that's a good place to start when you start talking

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Speaker 1: about remaining you know, spare capacity. Though there are a

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Speaker 1: lot of questions about what Saudi Arabia or or the

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Speaker 1: UAE would be even capable of doing, and then of

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Speaker 1: course what we might be able to do here. Congressmen,

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Speaker 1: we we haven't taken a refinery off mothballs in a

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Speaker 1: long time. If we suddenly got an influx of oil,

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Speaker 1: would be able to refine it. Well, it depends on

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Speaker 1: the type of crude. Of course, there's different types of crude,

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Speaker 1: like crude, sweet crude, and and that that's that's the problem, right.

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Speaker 1: But the bottom line is and and this is the

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Speaker 1: fact that I'm saying this through the lens of being

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Speaker 1: the most bipartisan member the past four terms in Congress,

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Speaker 1: but the fact that I'm early on in this administration,

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Speaker 1: the the emphasis was not on domestic oil production, and

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Speaker 1: that's kind of caused us to be in a situation

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Speaker 1: right now, and we need to get back to that.

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Speaker 1: But we also need to have better relationships with our

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Speaker 1: international partners. And this is going to Strabe is never

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Speaker 1: going to be a bad thing. Going to Israel is

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Speaker 1: never a bad thing. They need to know that we

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Speaker 1: know from we have mutual interests and that is fighting

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Speaker 1: back against the RAND and whatever Ran is trying to

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Speaker 1: do with the nuclear capabilities, and very important, I'm sure

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Speaker 1: solidarity with some of our friends in the last Is

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Speaker 1: it a sign that that's working When you hear that

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Speaker 1: Vladimir Putin is going to Tehran next week, well, it's

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Speaker 1: certainly go see anti for uh Iran and the run

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Speaker 1: should steal the heat from us together, togetherness that we're projecting.

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Speaker 1: That's a very important thing because Iran really is a

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Speaker 1: very dangerous and destabilizing element of Middle East. And let's

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Speaker 1: not forget not so long ago there was there was

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Speaker 1: some bombings of oil your founderies by Iran and Saudi

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Speaker 1: Reda for not mistake, and so uh, there's there is

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Speaker 1: the constant threat. And the more that the folks in

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Speaker 1: Middle East that are our friends uh and allies, more

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Speaker 1: they don't feel like we have their backs, the better

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Speaker 1: alfare gonna be a long term allel of us collectively.

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Speaker 1: Cogress from Katko, you mentioned Saudi Arabia's human rights record.

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Speaker 1: This is another big part of the trip. And whether

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Speaker 1: the president or how the President was going to speak

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Speaker 1: about the Kashoki murder. He did get to this even

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Speaker 1: in his opening remarks, and he was asked about it

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Speaker 1: quite a bit. I'd like for you to give a

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Speaker 1: listen to what he said. I raised it at the

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Speaker 1: top of the meeting, making it clear what I thought

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Speaker 1: of it at the time and when I think of

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Speaker 1: it now, and it was exactly. I was straightforward and

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Speaker 1: direct and discussing it. I made my view crystal clear.

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Speaker 1: I said very straightforwardly for an American president to be

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Speaker 1: silent on an issue of human rights? Is this consistent

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Speaker 1: with inconsistent with who we are and who I am?

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Speaker 1: How did he do with that? How is the wording?

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Speaker 1: How is the post? And did you believe him? Um? Well, listen,

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Speaker 1: of course I believe he's a president. I'm going to

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Speaker 1: give him a credit. But he's saying it is the

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Speaker 1: truth of what he said. But the bottom line is,

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Speaker 1: what are we supposed to do? I mean, human rights

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Speaker 1: violations are are if we call him on it and

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Speaker 1: say this is wrong, it's got to stop. And we

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Speaker 1: pushed them. That's a good thing. Um. Should we turn

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Speaker 1: a blind eye to it? Of course not, and we

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Speaker 1: should never do that, and it doesn't sound like he did.

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Speaker 1: But in the end, we gotta put that into the

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Speaker 1: total mix. Like I said at the beginning, it's a

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Speaker 1: very very complicated place in the Middle East, and you know,

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Speaker 1: you got to take that into consideration with everything else

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Speaker 1: we're working. He said, NBS told him he didn't do it. Congressman,

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Speaker 1: what's that he said that MBS told him that he

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Speaker 1: did not kill because showed you that it was not

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Speaker 1: him and that he brought those who were responsible to Justice. Well,

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Speaker 1: I'm sure that Challengance Committee he knows otherwise, but take

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Speaker 1: what it's worth. We're spending time with Congressman John Katko

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Speaker 1: of New York. There's been quite a couple of days

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Speaker 1: on Capitol Hill. My goodness, the back and forth between

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Speaker 1: Joe Manson, Democrats, Mitch McConnell, and Republicans with regard to

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Speaker 1: a reconciliation bill versus a China Competes bill has become

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Speaker 1: basically exhausting. Congressman. There is a bipartisan plan, though, to

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Speaker 1: get the China Competes Bill, which includes the Chip Act past.

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Speaker 1: You've got a version of the House, there's a competing

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Speaker 1: version in the Senate, and there's a great worry that

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Speaker 1: they're going nowhere fast now, especially as Mitch McConnell threatens

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Speaker 1: it's a pull Republican votes in the face of a

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Speaker 1: reconciliation built by Democrats. Do you like this idea of

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Speaker 1: just chipping it, should say, passing the Chip Act as

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Speaker 1: a standalone. Listen, we gotta take a look at this

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Speaker 1: by by order of priority right and by order priority um.

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Speaker 1: Bringing back chip manufacturers in the United States. There's got

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Speaker 1: to be a huge priority. God forbid, if China decides

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Speaker 1: to go with this Taiwan tomorrow and takes over Taiwan

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Speaker 1: and then gets as triangle hold on that high end

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Speaker 1: chip manufacturing, which is about of the market. If I'm

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Speaker 1: not mistaken worldwide, If we don't domesticate some of that

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Speaker 1: stuff to guard against that hup the possible eventuality, we

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Speaker 1: are we are not being smart and so read re

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Speaker 1: shoring or bringing back some of that domestic chip production

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Speaker 1: and incentivizing it is a good idea. But let's not

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Speaker 1: forget it's a relatively smaller investment you compared about to

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Speaker 1: consider how much money going to be put in the

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Speaker 1: chip manufacturing nationwide. It's a small investment because I'll give

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Speaker 1: an example, uh in searchus A contemplating a possible possible

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Speaker 1: chip by manufacturing plan. It would be a hundred billion

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Speaker 1: would it be a hundred billion dollar investment in Syracuse,

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Speaker 1: New York over a ten year period and would create

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Speaker 1: fifteen to twenty thousand jobs at an average a hundred

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Speaker 1: sixty thousand pop immediately that's just one location. We need

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Speaker 1: those all over the country. That's what they're complaints. So

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Speaker 1: providing the seed money would be an excellent investment and

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Speaker 1: from a natural security point, well, that's where I was going.

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Speaker 1: As the ranking member on Homeland Security. Do you tell

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Speaker 1: your your colleagues how important this is from a national

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Speaker 1: security standpoint or do they know this already and this

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Speaker 1: is bogged down by everything else. I always say, economic

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Speaker 1: security is national security. We don't have economic security with

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Speaker 1: respect to chip manufacturing, and that's one of the central

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Speaker 1: components of modern manufacturing. Now it's in vehicles, it's in

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Speaker 1: your refrigerators, it's in your microwaves, it's in every device

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Speaker 1: you have. And if we don't, if we don't have

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Speaker 1: a good handle on that, and the bad act of

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Speaker 1: like China decides to go with the time on which

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Speaker 1: is highly likely at some point we are really being fooled.

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Speaker 1: So the sooner we get this done, the better. And

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Speaker 1: I couldn't. I couldn't supported enough. I heard about an

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Speaker 1: issue that that you were trying to get your arms

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Speaker 1: around today. They had to ask you about because it

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Speaker 1: was hard to believe at first that that that the

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Speaker 1: Department of Homeland Security will not provide information on terror plots,

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Speaker 1: not not attacks, but things that have been plotted until

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Speaker 1: Congress gets waivers from accused non citizens. First of all,

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Speaker 1: am I am I representing that accurately that we need

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Speaker 1: the accused to sign a waiver for us to know

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Speaker 1: what they were intending to do. Yes, well with our job,

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Speaker 1: our central job and Homeland Security, and I'm the ranking

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Speaker 1: member for Homeland Security. Our central job is conduct oversight

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Speaker 1: of Homeland Security Committee and also to ensure that we

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Speaker 1: do everything to kind of keep the country safe. You

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Speaker 1: can only do that if information is flowing back and forth.

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Speaker 1: Information is the lifeblood of national security and homeland security.

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Speaker 1: And so we asked for information about two things. One

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Speaker 1: is the attempted assassination of President Bush, former President Bush,

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Speaker 1: which was done by a criminal alien who was going

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Speaker 1: to utilize the poorer southern border to bring more people across.

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Speaker 1: That was one. The other one was two illegal aliens

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Speaker 1: in the United States who are plotting to have a

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Speaker 1: mass shooting and a Virginia Fourth of July celebrations. So

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Speaker 1: we asked Homeland Security, as they always do, Hey, what's

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Speaker 1: going on? Give us a background in this, and they said,

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Speaker 1: We're not going to give any background unless you get

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Speaker 1: waivers from the accused. I'm like, okay, we want to

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Speaker 1: get waivers. From people accused of territing that our American citizens,

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Speaker 1: which we never had to do before, which is insane.

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Speaker 1: I don't think isis is in the business of signing

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Speaker 1: waivers that one on from July four? Is that the

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Speaker 1: the the attack or the attempted attack from Richmond, Virginia

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Speaker 1: that was foiled. Yes, we talked to the mayor about

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Speaker 1: that today. As a matter of fact, How the heck,

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Speaker 1: How the heck can you uh figure out where the

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Speaker 1: threats are if you're not even getting briefings on them

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Speaker 1: and this has never happened before, it's my knowledge. Is crazy. Congressman.

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Speaker 1: I don't want to sneak up on you because only

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Speaker 1: have thirty seconds left. But you're a former prosecutor. You're

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Speaker 1: also one of ten Republicans who voted for impeachment. Should

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Speaker 1: the January six committee refer what it knows for criminal

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Speaker 1: charges against the former president, whether whether they do so

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Speaker 1: officially or not, they're they're essentially doing it in the

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Speaker 1: court of public opinion, and so then is such the

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Speaker 1: property justice to make our decisions. So we'll see what

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Speaker 1: happens with that. Send it to d O J. It

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Speaker 1: sounds like, Congressman, thank you. I think someone's calling. John

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Speaker 1: Katko of New York with us on the Fastest Hour

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Speaker 1: in Politics. We've set the baseline. Now we assembled the panel.

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Speaker 1: Rick Davis coming in along with Al Motor today on

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Speaker 1: Bloomberg This. He's Bloomberg sound on on Bloomberg Radio. President

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Speaker 1: Biden has already heard from Jamal Ka show gis fiance

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Speaker 1: via Twitter. At least it came up during his news conference.

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Speaker 1: Not good this after he brought it up with m

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Speaker 1: B s as he said he would kind of. He

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Speaker 1: had demurred on questions about whether he would raise the

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Speaker 1: killing directly, but he sure did today as we've already

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Speaker 1: gone through. But the response was remarkable. He didn't include

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Speaker 1: this in his opening remarks. It was in the questions

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Speaker 1: and there weren't too many of them. Questions and answers

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Speaker 1: with reporters after what was the reaction from Mohammed Ben Solomon,

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Speaker 1: here's the president. He basically said that he, uh, he

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Speaker 1: was not personally responsible for it. I indicated I thought

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Speaker 1: he was. He said he was not personally responsible for it,

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Speaker 1: and he took action against those who were responsible. And uh,

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Speaker 1: and we heard from as I mentioned fiance, this came up.

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Speaker 1: It was one of the NBC reporters brought it up

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Speaker 1: in a question, was here here you go. We just

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Speaker 1: heard from Jamaal Ka, Shogi's wife, who said, after this visit,

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Speaker 1: the blood of MBS next victim is on your hands.

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Speaker 1: What do you say to Mrs Kashoki. I'm sorry she

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Speaker 1: feels that way. I was straightforward back then. I was

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Speaker 1: straightforward today what I this is a meeting not I

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Speaker 1: didn't come here to meet with the Crown Prince. I

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Speaker 1: came here to meet with the g c C and

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Speaker 1: nine nations to deal with the security and and the

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Speaker 1: needs of the free world and particularly the United States,

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Speaker 1: and not leave a vacuum here which was happening as

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Speaker 1: it has in other parts of the world. I've been

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Speaker 1: talking about that vacuum quite a bit lately with our panel.

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Speaker 1: Let's assembled the panel right now. Rick Davis joins us

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Speaker 1: for the Friday edition Bloomberg Politics contributor, joined today by

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Speaker 1: Al modern democratic strategist and partner at Brownstein Hyatt. Al,

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Speaker 1: Welcome back, Rick. Always great to have you. We've talked

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Speaker 1: Rick a lot about this trip leading up to it.

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Speaker 1: In his final arrival today in Jetta, how did he

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Speaker 1: do you know? Look, I mean, he got through the day.

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Speaker 1: He did exactly what he said he was gonna do. Uh.

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Speaker 1: I actually thought he gave us more insight into the

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Speaker 1: meeting with MBS than I thought he was going to. Uh.

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Speaker 1: It would have been very easy to say that uh,

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Speaker 1: um that you know MBS gave him a response and

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Speaker 1: he's not you know, you preferred not to go into

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Speaker 1: the handling. You know. Look, I mean he's a fourth

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Speaker 1: right guy. He loves to talk to the media and

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Speaker 1: you know, I mean, it is who he is. This

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Speaker 1: is a brand of Joe Biden that you get all

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Speaker 1: the time, and so it has its pluses and minuses.

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Speaker 1: It obviously had a negative reaction from Kashogi's fiance, which

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Speaker 1: you would expect, right, I mean, family members would not

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Speaker 1: want this meaning to ever take place. But there are

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Speaker 1: higher priority for this administration and I think, you know,

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Speaker 1: filling that vacuum, ensuring that Russia and China do not

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Speaker 1: take advantage of us in UH this period of time

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Speaker 1: UH in the Middle East, and in securing a stronger

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Speaker 1: relationship that can result in in in more hydrocarbon's is

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Speaker 1: what his task was and it sounds like that got done,

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Speaker 1: although we're not sure, right he says, well, we'll see

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Speaker 1: in a couple of weeks what we get out before

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Speaker 1: we start getting into some of the other issues. How

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Speaker 1: did the President comport himself? How did how did you

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Speaker 1: how did the wording work for you on on the

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Speaker 1: specifically the Kogi issue. Sure, well, I should just disclose

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Speaker 1: to your listeners. I do do some work with the Kingdom,

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Speaker 1: so I need to say that upfront. But I thought

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Speaker 1: the President was as Rick said, he is always forthright,

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Speaker 1: he was resolute. He expressed his disgust and disappointment apparently

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Speaker 1: in person, which reflects what his position has always been,

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Speaker 1: and frankly, the US position has always been. And so

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Speaker 1: I give the President credit for that. I think what's

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Speaker 1: important coming out of this are the myriad substantive accomplishments

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Speaker 1: that were named Israel flying directly into the Kingdom, an

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Speaker 1: expanded piece fire in Yenen. I can go on, but

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Speaker 1: the President listed five or six major subption of accomplishments,

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Speaker 1: and I think, as Rick said, uh, it's terrific for

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Speaker 1: the region and as terrific to the United States interests.

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Speaker 1: Did he need to be more specific about energy? Rick,

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Speaker 1: he's talking about energy security is more of a concept

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Speaker 1: and saying that in a couple of weeks time, will

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Speaker 1: we'll see more. I mean he is he waiting for

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Speaker 1: the next OPEC meeting. Well, let's let's be clear. In

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Speaker 1: the last OPEC plus meeting, they increase production that has

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Speaker 1: helped to start bring down energy prices in the United

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Speaker 1: States already, right, and so you could argue that this

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Speaker 1: trip was as much a thank you to that effort

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Speaker 1: to get us to where we are today as it

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Speaker 1: is to encourage even more in the future. The bottom

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Speaker 1: line is we're getting a bigger flow from OPEC, uh,

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Speaker 1: Saudi Arabia and others. Uh. It is not without its cost,

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Speaker 1: which was today's meeting, and UH ensure, Yeah, I think that. Uh.

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Speaker 1: You know, we've already seen a pretty precipitous drop in

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Speaker 1: the last dirty days for gasoline prices in the United States,

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Speaker 1: and that's what we hope to see continuing for the

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Speaker 1: month of July and August. So, um, by the time

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Speaker 1: he gets a labor day, if the price of gas

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Speaker 1: is reduced by a dollar dollar and a half from

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Speaker 1: it's high, Uh, he'll be able to declare victory specific

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Speaker 1: about that. Yeah, should you have been more specific about

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Speaker 1: the energy agreement Yeah, I mean just to quickly point

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Speaker 1: out to particularly those who are progressive who really didn't

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Speaker 1: want the President to make this trip at all. In

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Speaker 1: addition to the oil expansion, the United States and the

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Speaker 1: Kingdom agreed on a significant partnership on green technology. So

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Speaker 1: if you care about the global environment and global economy

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Speaker 1: being more green, this meeting result will result in that.

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Speaker 1: And so that's a tremendous accomplishment. The takeaways diplomatically, Rick,

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Speaker 1: we talked a lot about the Abraham Accords and how

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Speaker 1: it could potentially be expanded to include Saudi Arabia. Was

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Speaker 1: the foundation laid for that? Yeah, there's been a lot

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Speaker 1: of work to date. UM and AL would know probably

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Speaker 1: a lot more about it than I do. But UM,

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Speaker 1: I think there's optimism that that um Saudi Arabia would

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Speaker 1: take the same steps that Morocco and and and Ua

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Speaker 1: and others have taken. UM and and and it is

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Speaker 1: the interest UH of MBS to modernize his country. I mean,

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Speaker 1: he's done a lot in the sort of domestic realm

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Speaker 1: that we don't talk about because we have so much

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Speaker 1: anxiety about what he's done his foreign policy. Al, could

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Speaker 1: Saudi Arabia join the Accords? In our lifetimes. I think

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Speaker 1: it's certainly possible. Um, you look at what they just

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Speaker 1: did with respects those islands of the North Red Sea,

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Speaker 1: allowing Israeli tourists coming in. You look at what they did.

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Speaker 1: Guess anything is possible with some of the takeaways that

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Speaker 1: we heard al Modern Stay where you are, Rick Davis,

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Speaker 1: our panel for the hour on Sound On. This is Bloomberg,

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Speaker 1: broadcasting live from our nation's capital, Bloomberg to New York,

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Speaker 1: Bloomberg eleven, Frio to Boston, Bloomberg one, O six one

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Speaker 1: to San Francisco, Bloomberg nine six to the country Serious

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Speaker 1: x M General one and around the globe, the Bloomberg

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Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg

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Speaker 1: Sound On with Joe Matthew. Have you started shaking hands again?

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Speaker 1: Are you still fist bumping like the President has been

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Speaker 1: trying to do on this trip of the Middle East.

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Speaker 1: I actually asked Dr Anthony Fauci about it earlier today

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Speaker 1: on Balance of Power here on Bloomberg. Along with the

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Speaker 1: drive to get people back in the office. Just as

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Speaker 1: this new sub variant takes hold, we'll start to get

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Speaker 1: into this coming up next with Bloomberg's Sally Bakewell, who

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Speaker 1: covers the banking industry in Wall Street, has of course

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Speaker 1: had a patchwork of policies on this. We'll see if

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Speaker 1: any of them are working. Interesting conversation with Dr Anthony

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Speaker 1: Faucci that we're going to discuss with Sally Bakewell in

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Speaker 1: just a moment about interactions. I have to ask you, Sally,

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Speaker 1: first of all, thanks for coming in. You cover banking.

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Speaker 1: How did you end up with me here? This is

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Speaker 1: but it's there's actually a method to the madness because

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Speaker 1: Wall Street was really kind of leading the curve on

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Speaker 1: getting people back to work right the post COVID return,

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Speaker 1: and I want to ask you about that. Having discussed

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Speaker 1: a lot of this with Anthony Fauci today, starting with

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Speaker 1: the fist bumps, are you shaking hands justin with people?

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Speaker 1: Here's what the doctor said, Well, I'm not going to

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Speaker 1: talk about what the president should be doing or not.

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Speaker 1: He is quite protected, he's vaccinated. About the rest of

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Speaker 1: us very carefully. My own self is that if you

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Speaker 1: are in a situation where you you don't know the

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Speaker 1: status of an individual, you should do what you can

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Speaker 1: to avoid contact that might be spreading infection. I mean,

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Speaker 1: I don't want to be on record saying you shouldn't

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Speaker 1: be shaking hands. That becomes a sound bye. See he

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Speaker 1: didn't want to go there, I guess, Sally, thanks again

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Speaker 1: for being here. Is everyone shaking hands where you are

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Speaker 1: when you're covering Wall Street or you're putt in the

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Speaker 1: elbow up? You know. I was just about to say,

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Speaker 1: I did shake hands earlier today and it felt a

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Speaker 1: little bit awkward. Um, but I'm going to try and

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Speaker 1: shake more hands, is okay? Yeah? Did you like run

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Speaker 1: and wash it right away? Was it an awkward thing? No?

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Speaker 1: I didn't. I just felt the mood shift a little

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Speaker 1: bit as I did. And the other thing I was

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Speaker 1: going to say is that when we talk about Wall

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Speaker 1: Street and return to office, I wanted to start by

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Speaker 1: talking about what happens when they aren't in the office

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Speaker 1: and why it is important if I may, Okay, because

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Speaker 1: they're out partying and spreading COVID, they probably are doing that,

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Speaker 1: but also, as we all know finance firms, they're required

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Speaker 1: to be very scrupulous in how they monitor their communications, um,

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Speaker 1: you know, to head off any kind of improper conduct.

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Speaker 1: And of course that system has been challenged by the

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Speaker 1: proliferation of mobile messaging apps like WhatsApp and so on. Um.

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Speaker 1: But when everyone went home, this was further strained, and

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Speaker 1: of course people started to use those more and more.

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Speaker 1: And now a number of banks are under investigation for

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Speaker 1: improper use of unauthorized devices. UM. And we had we've

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Speaker 1: had bank earnings. UM. So this is creating more than

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Speaker 1: health issues, clearly, and this is another reason why I think,

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Speaker 1: you know, being back in the office is important. There's

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00:22:26,960 --> 00:22:30,560
Speaker 1: a kind of compliance and regulatory layer here. Well, let's

430
00:22:30,560 --> 00:22:32,800
Speaker 1: listen to what Dr Faucci said about it, because you

431
00:22:32,880 --> 00:22:35,239
Speaker 1: look where we work at a lot of other places. Uh,

432
00:22:35,400 --> 00:22:38,639
Speaker 1: the plexiglass is coming down. Not seeing a lot of

433
00:22:38,680 --> 00:22:41,639
Speaker 1: masks sometimes you do. It depends on what workplace you're in,

434
00:22:41,640 --> 00:22:44,360
Speaker 1: of course, what city you're in. But there's a patchwork

435
00:22:44,400 --> 00:22:47,160
Speaker 1: of policies out there and companies are trying to update them.

436
00:22:47,200 --> 00:22:50,399
Speaker 1: This is what Dr Faucci suggested about their attempt to

437
00:22:50,440 --> 00:22:53,680
Speaker 1: do so. Well, it depends on what you mean, Joe,

438
00:22:53,720 --> 00:22:56,400
Speaker 1: buy back into the office. I mean we are. I

439
00:22:56,480 --> 00:23:01,080
Speaker 1: am right now in my office at the National Institutes

440
00:23:01,119 --> 00:23:05,160
Speaker 1: of Health. I'm alone now in this room. But when

441
00:23:05,200 --> 00:23:08,920
Speaker 1: we have people who are coming in and out who

442
00:23:08,960 --> 00:23:15,800
Speaker 1: are here on business. We're wearing masks. So therefore companies

443
00:23:15,840 --> 00:23:18,480
Speaker 1: have no idea what to do. How many Wall Street

444
00:23:18,480 --> 00:23:20,399
Speaker 1: firms or do they all have their own advisors on

445
00:23:20,520 --> 00:23:22,800
Speaker 1: us UM? So I think it's Wall Streets kind of

446
00:23:22,840 --> 00:23:25,600
Speaker 1: divided into two camps here and sort of harsher one

447
00:23:25,600 --> 00:23:27,600
Speaker 1: and a slightly softer one. And you have the likes

448
00:23:27,600 --> 00:23:31,880
Speaker 1: of Goldman Sachs, JP Morgan, UM Citadel there among the firms,

449
00:23:32,040 --> 00:23:34,359
Speaker 1: and Morgan Stanley there among the firms that have really

450
00:23:34,400 --> 00:23:36,359
Speaker 1: pushed people. They've been at the forefront to try and

451
00:23:36,400 --> 00:23:39,480
Speaker 1: get people back into the office UM. Morgan Stanley's chief

452
00:23:39,480 --> 00:23:42,000
Speaker 1: executive officer, James Colman, he said last year and it

453
00:23:42,040 --> 00:23:43,520
Speaker 1: became quite a famous comment that if you can go

454
00:23:43,560 --> 00:23:47,119
Speaker 1: to a restaurant, you can Johnny Well come into the UM.

455
00:23:47,160 --> 00:23:50,040
Speaker 1: And JP Morgan CEO Jamie Diamond has been one of

456
00:23:50,119 --> 00:23:53,200
Speaker 1: the most vocal critics of remote work. You know, say,

457
00:23:53,240 --> 00:23:57,359
Speaker 1: there's no substitute for spontaneous ideas. Do anything to that.

458
00:23:57,400 --> 00:24:01,480
Speaker 1: We've got be a five Now. I I live in Washington,

459
00:24:01,560 --> 00:24:04,040
Speaker 1: but coming back to New York to do some work here.

460
00:24:04,080 --> 00:24:06,280
Speaker 1: I can see all of the testing tents are back

461
00:24:06,320 --> 00:24:09,320
Speaker 1: on the corners. People are lined up to get COVID tests.

462
00:24:09,600 --> 00:24:11,800
Speaker 1: I just wonder if there's going to be a turnaround here,

463
00:24:11,800 --> 00:24:15,680
Speaker 1: because Eric Adams, it's not just the firms, the government

464
00:24:15,760 --> 00:24:18,000
Speaker 1: as well as telling people to get back on the train,

465
00:24:18,119 --> 00:24:21,080
Speaker 1: go back to work. Even the President is is that

466
00:24:21,200 --> 00:24:23,600
Speaker 1: is there time for pause? Have you seen any indication

467
00:24:23,640 --> 00:24:26,840
Speaker 1: of that? Well, earlier this year, actually, despite that very

468
00:24:26,840 --> 00:24:29,240
Speaker 1: hard stance, there was kind of an indication that some

469
00:24:29,320 --> 00:24:32,480
Speaker 1: of the banks were starting to soften, probably because they

470
00:24:32,520 --> 00:24:36,280
Speaker 1: had had feedback and resistance like a number of companies,

471
00:24:36,320 --> 00:24:39,080
Speaker 1: you know, Apple, Airbnb, a handful of law firms. They've

472
00:24:39,119 --> 00:24:41,640
Speaker 1: resisted some of the stricter policies, and there was kind

473
00:24:41,640 --> 00:24:45,240
Speaker 1: of some evidence that there was softening again. Jamie Diamond

474
00:24:45,440 --> 00:24:48,119
Speaker 1: he said he that he would allow, you know, the

475
00:24:48,200 --> 00:24:51,480
Speaker 1: hybrid model to become a kind of permanent model um

476
00:24:51,680 --> 00:24:53,199
Speaker 1: which you know, is a bit of a sort of

477
00:24:53,200 --> 00:24:56,400
Speaker 1: difference in his very sort of forthright stance at the beginning.

478
00:24:56,480 --> 00:24:59,320
Speaker 1: So I think probably because that softened it a little bit,

479
00:24:59,400 --> 00:25:04,080
Speaker 1: the urgents of you know what, whichever variants, probably they

480
00:25:04,160 --> 00:25:06,240
Speaker 1: now have a little bit more flexibility than perhaps way

481
00:25:06,240 --> 00:25:09,000
Speaker 1: back in September when the push was really on to

482
00:25:09,040 --> 00:25:11,600
Speaker 1: bring people back for all the aforementioned reasons. Is the

483
00:25:11,640 --> 00:25:14,760
Speaker 1: three day work week still a thing? Um? I think

484
00:25:14,840 --> 00:25:17,800
Speaker 1: a citadel for example, I think most staff are back,

485
00:25:17,960 --> 00:25:19,960
Speaker 1: or can we say that everyone's back, that New York

486
00:25:20,080 --> 00:25:22,600
Speaker 1: is back none the traffickers. So I think I was

487
00:25:22,680 --> 00:25:26,080
Speaker 1: reading a stat that nearly half of all office visits

488
00:25:26,119 --> 00:25:29,000
Speaker 1: this year were just once a week. Um, I don't

489
00:25:29,040 --> 00:25:32,119
Speaker 1: think New York is quite back. And indeed, the other camp,

490
00:25:32,160 --> 00:25:34,880
Speaker 1: the non JP Morgan's, the non Morgan standis there's banks

491
00:25:34,920 --> 00:25:37,800
Speaker 1: like City, which is run by Jane Fraser, and they've

492
00:25:37,880 --> 00:25:40,720
Speaker 1: been incredibly flexible and they have, you know, offered this

493
00:25:40,840 --> 00:25:44,840
Speaker 1: hybrid form of working. Um. So when you have that

494
00:25:44,960 --> 00:25:47,320
Speaker 1: kind of approach, slightly different approach, I think, you know,

495
00:25:47,400 --> 00:25:49,600
Speaker 1: we're probably not ever going to get back the numbers

496
00:25:49,760 --> 00:25:52,520
Speaker 1: in on Wall Street that we used to have. That's

497
00:25:52,520 --> 00:25:55,280
Speaker 1: a pretty scary thought. At the same time, it doesn't

498
00:25:55,280 --> 00:25:57,600
Speaker 1: matter what city you're in. At this point, there's there's

499
00:25:57,640 --> 00:26:01,639
Speaker 1: no traffic on Monday or Friday. Right Everyone's stare on

500
00:26:01,680 --> 00:26:03,679
Speaker 1: its zoom, doing their meetings as late as they can

501
00:26:03,760 --> 00:26:05,959
Speaker 1: on a Monday and starting their weekend as early as

502
00:26:06,000 --> 00:26:08,200
Speaker 1: they can. I don't know if that keeps anybody safe

503
00:26:08,280 --> 00:26:09,520
Speaker 1: or not. But to your point, it's kind of a

504
00:26:09,520 --> 00:26:13,040
Speaker 1: new lifestyle. Yeah, I think it is. UM. I mean,

505
00:26:13,080 --> 00:26:15,440
Speaker 1: you know, people still sort of complain that they're being

506
00:26:15,480 --> 00:26:18,240
Speaker 1: dragged into the office and then they're still doing these

507
00:26:18,359 --> 00:26:23,840
Speaker 1: zoom calls. And you know, we had we have bosses

508
00:26:23,880 --> 00:26:28,560
Speaker 1: like the chief executive officer of Jeffreyes who kind of

509
00:26:28,640 --> 00:26:31,399
Speaker 1: has made emotional appeals to sort of the mental health

510
00:26:31,440 --> 00:26:34,159
Speaker 1: side of UM their staff saying, you know, we are

511
00:26:34,200 --> 00:26:37,639
Speaker 1: mentally healthier when we are around each other regularly, regularly,

512
00:26:37,680 --> 00:26:40,400
Speaker 1: and you know, for juniors and for mid level partners,

513
00:26:40,440 --> 00:26:43,120
Speaker 1: they need they need the empathetic seniors to help them

514
00:26:43,119 --> 00:26:44,879
Speaker 1: and mental Well, you you're a journalist. You work in

515
00:26:44,880 --> 00:26:48,280
Speaker 1: a newsroom that's supposed to be the ultimate shared environment.

516
00:26:48,840 --> 00:26:52,320
Speaker 1: Are you more effective in the office? I think probably

517
00:26:52,440 --> 00:26:56,400
Speaker 1: in terms of spontaneous deer generation. I think that probably

518
00:26:56,440 --> 00:26:58,280
Speaker 1: happens a bit more when when we're in the office.

519
00:26:58,320 --> 00:27:01,760
Speaker 1: We did, we made it work, did and she's still

520
00:27:01,800 --> 00:27:05,600
Speaker 1: making it work. The US finance team leader at Bloomberg News,

521
00:27:05,640 --> 00:27:08,720
Speaker 1: Sally Bakewell, great to have you on sound Off. This

522
00:27:09,000 --> 00:27:17,240
Speaker 1: is Bloomberg, This is Bloomberg. Sound On on Bloomberg Radio.

523
00:27:19,320 --> 00:27:21,919
Speaker 1: So much talk about COVID today in our conversation with

524
00:27:22,040 --> 00:27:26,000
Speaker 1: Dr Faucci, and then monkey pox as well as the

525
00:27:26,080 --> 00:27:29,840
Speaker 1: Department of Health and Human Services moves ahead with securing

526
00:27:29,880 --> 00:27:34,399
Speaker 1: more vaccines for monkey pox. As we reassemble the panel

527
00:27:34,440 --> 00:27:36,840
Speaker 1: with an eye on the money here, that becomes the issue.

528
00:27:36,880 --> 00:27:41,639
Speaker 1: I asked Dr Faucci today about things running out therapeutics, vaccines. Remember,

529
00:27:41,680 --> 00:27:44,400
Speaker 1: they never got the COVID funding that they were looking

530
00:27:44,520 --> 00:27:47,359
Speaker 1: for months and months ago, a twenty two billion dollar

531
00:27:47,440 --> 00:27:50,320
Speaker 1: requests from President Biden. It was whittled down to ten

532
00:27:50,359 --> 00:27:52,439
Speaker 1: billion and then left on the floor. And based on

533
00:27:52,480 --> 00:27:55,800
Speaker 1: what we're seeing following our conversation earlier this hour with

534
00:27:55,840 --> 00:28:00,159
Speaker 1: Congressman Katko, there may not be much room left for

535
00:28:00,960 --> 00:28:04,359
Speaker 1: much more spending on Capitol Hill as we had for

536
00:28:04,400 --> 00:28:08,720
Speaker 1: August recess and then of course midterm elections. Great panel today.

537
00:28:08,800 --> 00:28:11,679
Speaker 1: Rick Davis is with US Bloomberg Politics contributor along with

538
00:28:11,720 --> 00:28:16,440
Speaker 1: Al Modern Democratic strategist and partner at Brownstein Hyatt. Uh Rick,

539
00:28:16,640 --> 00:28:19,760
Speaker 1: what's the reality check on this? If we really are

540
00:28:19,800 --> 00:28:22,240
Speaker 1: going to start running out of therapeutics and vaccines and

541
00:28:22,280 --> 00:28:24,720
Speaker 1: the administration told us that we would already be by

542
00:28:24,760 --> 00:28:28,200
Speaker 1: now and this be a five variant becomes something real,

543
00:28:28,240 --> 00:28:31,440
Speaker 1: we get it. What is it the sixth wave or something.

544
00:28:31,440 --> 00:28:34,360
Speaker 1: Since the beginning of COVID, this administration will be blamed

545
00:28:35,040 --> 00:28:40,160
Speaker 1: for not being ready, right sure, absolutely, they have the

546
00:28:40,240 --> 00:28:44,680
Speaker 1: obligation to use government to support the public health of

547
00:28:44,720 --> 00:28:48,040
Speaker 1: the nation. And nobody's gonna look back and say, wow,

548
00:28:48,080 --> 00:28:51,719
Speaker 1: you know your your building pass and right for I

549
00:28:51,760 --> 00:28:54,280
Speaker 1: can't get my treatments. Uh, They're gonna have to find

550
00:28:54,280 --> 00:28:57,720
Speaker 1: a way to ensure that these things are available, and

551
00:28:57,720 --> 00:28:59,920
Speaker 1: and they're they're doing a good job of actually make

552
00:29:00,040 --> 00:29:02,479
Speaker 1: in the more readily available, in other words, making it

553
00:29:02,560 --> 00:29:05,760
Speaker 1: easier to get them, which means they may likely run

554
00:29:05,760 --> 00:29:09,600
Speaker 1: out sooner than they otherwise would. So, um, I think

555
00:29:09,640 --> 00:29:12,680
Speaker 1: it's a bit of a quantity for the administration. And

556
00:29:13,080 --> 00:29:14,280
Speaker 1: of course the last thing they want to do is

557
00:29:14,360 --> 00:29:17,560
Speaker 1: start focusing their public rhetoric around COVID again, right, I mean,

558
00:29:17,600 --> 00:29:20,600
Speaker 1: it's just the political issue that won't go away. The

559
00:29:20,680 --> 00:29:23,080
Speaker 1: Reconciliation Bill might have been a vehicle for that, al

560
00:29:23,160 --> 00:29:24,640
Speaker 1: I don't know if that's true. It would have been

561
00:29:24,640 --> 00:29:29,360
Speaker 1: as well for Obamacare subsidies. But how how could Democrats

562
00:29:29,440 --> 00:29:32,600
Speaker 1: get to this money? If if it's not through uh,

563
00:29:32,960 --> 00:29:37,160
Speaker 1: you know, through legislation, do we simply run out Now.

564
00:29:37,240 --> 00:29:39,000
Speaker 1: I don't think that will happen, and I think the

565
00:29:39,000 --> 00:29:41,680
Speaker 1: administration will need to be very targeted. And look, it's

566
00:29:41,680 --> 00:29:44,280
Speaker 1: not just Republicans who complain about the money. It's people

567
00:29:44,280 --> 00:29:47,600
Speaker 1: like Joe Manson and Cinema and other moderate Democrats. We've

568
00:29:47,640 --> 00:29:50,959
Speaker 1: overstimulated the economy to a degree with our COVID relief.

569
00:29:51,440 --> 00:29:53,960
Speaker 1: But if they're targeted, the Congress will respond and give

570
00:29:54,040 --> 00:29:56,160
Speaker 1: them the money they need. In my opinion, remember the

571
00:29:56,160 --> 00:29:59,160
Speaker 1: whole issue of clawing back COVID funding from the state's

572
00:29:59,200 --> 00:30:02,360
Speaker 1: al that's what got this thing bogged down to begin with.

573
00:30:02,400 --> 00:30:05,600
Speaker 1: I mean, what kind of accountability should come with the

574
00:30:05,680 --> 00:30:09,000
Speaker 1: spending of extra money. I think there ought to be

575
00:30:09,040 --> 00:30:12,240
Speaker 1: plenty of accountability if that's a perfectly reasonable request to make,

576
00:30:12,280 --> 00:30:15,560
Speaker 1: particularly given the inflationary pressures we have in our country,

577
00:30:15,760 --> 00:30:18,800
Speaker 1: and we have thrown trillions of dollars into our economy.

578
00:30:19,240 --> 00:30:21,720
Speaker 1: So that's a reasona request. The administration ought to be

579
00:30:21,800 --> 00:30:24,240
Speaker 1: okay with that, and I think that, you know, in

580
00:30:24,280 --> 00:30:27,080
Speaker 1: addition to war in Ukraine and gas prices, there's a

581
00:30:27,080 --> 00:30:29,440
Speaker 1: lot there's a reason why we have high inflation in

582
00:30:29,480 --> 00:30:31,840
Speaker 1: this country. So that's fair. Rick. We've talked a lot

583
00:30:31,920 --> 00:30:35,480
Speaker 1: about the congressional agenda, the short timeline. It seems to

584
00:30:35,480 --> 00:30:38,320
Speaker 1: be a little bit different every day. I just wonder

585
00:30:38,400 --> 00:30:41,160
Speaker 1: what your thought is now after Joe Mansion dropped the

586
00:30:41,160 --> 00:30:44,800
Speaker 1: gauntlet on this whole thing last night, reconciliation, Now wait

587
00:30:44,960 --> 00:30:47,880
Speaker 1: till September, we're going to see another inflation report. Is

588
00:30:47,920 --> 00:30:50,480
Speaker 1: that his way of saying that he's out? Yeah. I

589
00:30:50,480 --> 00:30:52,760
Speaker 1: think he made himself pretty clear in the interview he

590
00:30:52,840 --> 00:30:55,360
Speaker 1: did today. Are you certainly out of any conversation it's

591
00:30:55,400 --> 00:30:59,680
Speaker 1: going to massively increase uh this administration's approach the climate

592
00:31:00,280 --> 00:31:04,960
Speaker 1: UH and try to find revenue raisers on wealthy Americans.

593
00:31:05,520 --> 00:31:10,560
Speaker 1: You know, I think that was unequivocal his statements related

594
00:31:10,560 --> 00:31:13,040
Speaker 1: to those two things. On course, those are core to

595
00:31:13,400 --> 00:31:18,240
Speaker 1: this administration's efforts around this latest reconciliation bill. So we

596
00:31:18,320 --> 00:31:20,440
Speaker 1: thought it was a tight squeeze to get something in

597
00:31:20,600 --> 00:31:23,840
Speaker 1: before the recess, and I think he's now made that

598
00:31:24,240 --> 00:31:27,800
Speaker 1: an impossibility. And and so the question is will this

599
00:31:27,840 --> 00:31:33,240
Speaker 1: administration turn and and focus on the Chips Act or

600
00:31:33,280 --> 00:31:37,080
Speaker 1: getting something done around USEKA so that they can at

601
00:31:37,120 --> 00:31:40,240
Speaker 1: least declare victory before the cycle, you know, before the

602
00:31:40,320 --> 00:31:44,240
Speaker 1: recess in UH, in August. Once you come back from August,

603
00:31:44,280 --> 00:31:46,200
Speaker 1: it's a different world out. Could they get anything done

604
00:31:46,200 --> 00:31:48,920
Speaker 1: then or is it too late? It's not too late,

605
00:31:48,960 --> 00:31:51,000
Speaker 1: And this I'm going to disagree with Rick here. I

606
00:31:51,040 --> 00:31:54,080
Speaker 1: talked to the Mansion folks fairly often, and they are

607
00:31:54,160 --> 00:31:58,440
Speaker 1: open to doing a bill in September that includes climate provisions. Uh.

608
00:31:58,480 --> 00:32:01,160
Speaker 1: They just need to see a signal inflation is coming down,

609
00:32:01,600 --> 00:32:04,000
Speaker 1: and they will have a signal whether it's good or

610
00:32:04,040 --> 00:32:06,480
Speaker 1: bad by then. And if it is coming down, he

611
00:32:06,560 --> 00:32:10,320
Speaker 1: will be negotiating on climate in September. Mark my word, Well,

612
00:32:10,360 --> 00:32:12,360
Speaker 1: my goodness, it keeps going up and coming in hotter

613
00:32:12,360 --> 00:32:15,840
Speaker 1: than expected. If that's the case, the deals off. Yes,

614
00:32:16,120 --> 00:32:18,280
Speaker 1: inflation keeps going up, he will not do that. He

615
00:32:18,320 --> 00:32:20,560
Speaker 1: would be willing to agree. I believe to a narrow

616
00:32:20,600 --> 00:32:22,840
Speaker 1: bill that deals with prescription drug prices in the A

617
00:32:22,960 --> 00:32:26,440
Speaker 1: c A subsidies. But that's probably it. Our panel on

618
00:32:26,480 --> 00:32:29,120
Speaker 1: Bloomberg sound On with Al Matter and Rick Davis. We're

619
00:32:29,120 --> 00:32:32,120
Speaker 1: about two thirds of the way through primary season. Here, gentlemen,

620
00:32:32,160 --> 00:32:33,920
Speaker 1: I want to talk about the Senate race that's well

621
00:32:34,000 --> 00:32:38,680
Speaker 1: underway now. In Pennsylvania, as they were earlier on in

622
00:32:38,720 --> 00:32:41,280
Speaker 1: the calendar. This, of course would be the race featuring

623
00:32:41,360 --> 00:32:46,920
Speaker 1: television personality Dr Oz along with John Fetterman, the Lieutenant governor,

624
00:32:47,640 --> 00:32:50,560
Speaker 1: who has had some of his own issues here regarding

625
00:32:50,600 --> 00:32:52,720
Speaker 1: his health and so forth. But this has been essentially

626
00:32:52,720 --> 00:32:57,000
Speaker 1: too close to call. The race as called by five

627
00:32:57,120 --> 00:33:01,760
Speaker 1: thirty eight a toss up real clear has Fetterman at

628
00:33:01,760 --> 00:33:04,560
Speaker 1: fifty odds at forty. These are really close numbers for

629
00:33:04,600 --> 00:33:08,280
Speaker 1: this stage, which must be I'm assuming why John Fetterman

630
00:33:08,360 --> 00:33:15,000
Speaker 1: has gone to the extent of drafting Snooky into his

631
00:33:15,200 --> 00:33:19,720
Speaker 1: campaign these this is real. John Fetterman has remembering that

632
00:33:19,880 --> 00:33:22,880
Speaker 1: Dr Oz memod Oz is from New Jersey. This is

633
00:33:22,920 --> 00:33:26,480
Speaker 1: a race in Pennsylvania. John Fetterman tried to find the

634
00:33:26,600 --> 00:33:32,320
Speaker 1: ultimate troll, and by that I mean trolling to go

635
00:33:32,400 --> 00:33:35,120
Speaker 1: after his opponent. This is just posted on Twitter. Listen

636
00:33:35,160 --> 00:33:39,480
Speaker 1: to this, Hey May, Matt, this is Nicole Snooky, um,

637
00:33:39,480 --> 00:33:41,320
Speaker 1: and I'm from Jersey Shore. I don't know if you've

638
00:33:41,400 --> 00:33:44,280
Speaker 1: seen of it before, but I'm a hot mess on

639
00:33:44,280 --> 00:33:47,400
Speaker 1: a reality show basically, and I enjoy life. Um, but

640
00:33:47,560 --> 00:33:50,840
Speaker 1: I heard that you moved from New Jersey to Pennsylvania.

641
00:33:51,000 --> 00:33:54,040
Speaker 1: To look for a new job. And personally, I don't

642
00:33:54,080 --> 00:33:57,040
Speaker 1: know why anyone would want to leave Jersey because it's

643
00:33:57,080 --> 00:34:00,320
Speaker 1: like the best place ever and we're all hot messes. Um.

644
00:34:00,360 --> 00:34:02,240
Speaker 1: But I want to say best of luck to you.

645
00:34:02,800 --> 00:34:04,680
Speaker 1: I know you're away from home and you're in a

646
00:34:04,720 --> 00:34:07,760
Speaker 1: new place, but Jersey will not forget you. I just

647
00:34:07,800 --> 00:34:10,840
Speaker 1: want to let you know I will not forget you. Um,

648
00:34:10,880 --> 00:34:13,439
Speaker 1: And don't worry because you'll be back home in Jersey soon.

649
00:34:13,520 --> 00:34:17,760
Speaker 1: This is only temporary, So you got this and Jersey

650
00:34:17,880 --> 00:34:20,560
Speaker 1: loves you like kid informed me. Oh and with the

651
00:34:20,680 --> 00:34:23,319
Speaker 1: kiss that no, Snooki is bigger than ever. I guess

652
00:34:23,320 --> 00:34:25,920
Speaker 1: there are clothing lines and all this stuff. But politics,

653
00:34:26,600 --> 00:34:30,200
Speaker 1: Rick Davis, is this a clever move? Absolutely? John McCain

654
00:34:30,280 --> 00:34:34,160
Speaker 1: and Snooky had a relationship on Twitter and everyone was

655
00:34:34,200 --> 00:34:36,400
Speaker 1: scratching her head because they couldn't figure out what the

656
00:34:36,440 --> 00:34:39,520
Speaker 1: connection was. But Snookie loved John mckatt. Means you've spent

657
00:34:39,640 --> 00:34:42,799
Speaker 1: time with She's a player. She gets into the politics

658
00:34:42,920 --> 00:34:45,000
Speaker 1: very well. And uh, is that what this is about? It?

659
00:34:45,040 --> 00:34:47,279
Speaker 1: Does she actually care about who wins? Oh? I think

660
00:34:47,400 --> 00:34:49,600
Speaker 1: I think she probably has a point of view. Uh.

661
00:34:49,760 --> 00:34:52,440
Speaker 1: And it's a carpet back, and it's pretty it's pretty

662
00:34:52,520 --> 00:34:56,520
Speaker 1: entertaining that they go after a moment for leaving New Jersey.

663
00:34:56,560 --> 00:34:59,200
Speaker 1: I mean, like, I think, you know, send him back.

664
00:34:59,480 --> 00:35:01,839
Speaker 1: I guess the message. It's a funny way to get

665
00:35:01,920 --> 00:35:03,680
Speaker 1: to it. Al, I don't know if if you're if

666
00:35:03,680 --> 00:35:06,600
Speaker 1: you're laughing along with us here, But to create this

667
00:35:06,680 --> 00:35:09,800
Speaker 1: sort of the seemingly unknowing, snooky saying hey, it's okay,

668
00:35:09,840 --> 00:35:12,040
Speaker 1: you're going to be back before you know it certainly

669
00:35:12,120 --> 00:35:15,080
Speaker 1: drives home the message, doesn't it. Hey, I love it.

670
00:35:15,120 --> 00:35:16,880
Speaker 1: I mean I saw this on Twitter yesterday and I

671
00:35:16,880 --> 00:35:20,319
Speaker 1: was laughing out loud. I mean, Fetterman is authentic. I

672
00:35:20,360 --> 00:35:25,040
Speaker 1: think that voters like authentic candidates. And he subtly exposes

673
00:35:25,080 --> 00:35:28,480
Speaker 1: Oz for being unauthentic, as he did earlier when he

674
00:35:28,480 --> 00:35:32,000
Speaker 1: pointed out that ODZ actually filmed a campaign message from

675
00:35:32,040 --> 00:35:35,600
Speaker 1: his New Jersey house and so you can't escape facts

676
00:35:35,640 --> 00:35:38,160
Speaker 1: like that. It's not positive for him, and I think,

677
00:35:38,480 --> 00:35:40,680
Speaker 1: you know, it's a it's a great way to expose

678
00:35:40,719 --> 00:35:45,120
Speaker 1: the hypocrisy and help Pennsylvanians understands views on their side.

679
00:35:45,160 --> 00:35:47,239
Speaker 1: So what do you do if your doctor Oz, if

680
00:35:47,239 --> 00:35:49,200
Speaker 1: your moment oz here, Rick Davis do you do you

681
00:35:49,239 --> 00:35:53,080
Speaker 1: get the situation to endorse your campaign. Yeah, I wouldn't

682
00:35:53,120 --> 00:35:57,080
Speaker 1: get anyone from New Jersey to endorse my campidate. But

683
00:35:57,080 --> 00:35:59,799
Speaker 1: but I would definitely be looking for some well known

684
00:36:00,000 --> 00:36:03,920
Speaker 1: celebrity from you know, Pittsburgh that give me a lift up,

685
00:36:03,960 --> 00:36:07,279
Speaker 1: because he needs to approach this with the same level

686
00:36:07,320 --> 00:36:10,960
Speaker 1: of humor that the Feederman campaign approached it. And uh

687
00:36:11,000 --> 00:36:12,879
Speaker 1: and I think that can disarm it a lot. We're

688
00:36:12,880 --> 00:36:15,280
Speaker 1: just looking at his endorsement. P He's got Ted Nugent

689
00:36:15,280 --> 00:36:18,120
Speaker 1: in there, Matt. That's true, right, Ted Nugent can go

690
00:36:18,200 --> 00:36:20,080
Speaker 1: a long way on the campaign trail. I just don't

691
00:36:20,120 --> 00:36:22,640
Speaker 1: know if it is in Pennsylvania. Al what do you think.

692
00:36:23,400 --> 00:36:25,319
Speaker 1: I think if he hires Rick Davis, he might have

693
00:36:25,360 --> 00:36:27,520
Speaker 1: a chance, But otherwise he's in a bit of trouble.

694
00:36:27,800 --> 00:36:30,120
Speaker 1: As long as Fretterment's health rebounds and he gets out

695
00:36:30,120 --> 00:36:34,719
Speaker 1: on that campaign trail. Usually the more positive, optimistic, authentic

696
00:36:34,719 --> 00:36:37,760
Speaker 1: candidate wins in these statewide races, and that's John Fan.

697
00:36:38,239 --> 00:36:40,600
Speaker 1: But this race is too close to call here, Rick.

698
00:36:40,640 --> 00:36:43,160
Speaker 1: I mean, we can be wise guys about snooky, but

699
00:36:43,160 --> 00:36:45,520
Speaker 1: but Dr Roz has the endorsement of Donald Trump, and

700
00:36:45,560 --> 00:36:47,600
Speaker 1: he's been doing incredibly well despite the fact that he's

701
00:36:47,640 --> 00:36:49,920
Speaker 1: coming from New Jersey. Yeah. I mean, look, it's a

702
00:36:50,000 --> 00:36:52,520
Speaker 1: it's a good Republican year, and a lot of Pennsylvania

703
00:36:52,560 --> 00:36:56,480
Speaker 1: politics have been drifting towards the Republican column. Picking up

704
00:36:56,520 --> 00:37:01,000
Speaker 1: support in these white blue collar districts are really giving

705
00:37:01,040 --> 00:37:03,920
Speaker 1: Republicans a much better chance statewide than we used to have.

706
00:37:04,040 --> 00:37:08,120
Speaker 1: And so, uh, this really should be a great opportunity

707
00:37:08,200 --> 00:37:11,960
Speaker 1: to hold the too May seat. But I must say,

708
00:37:12,280 --> 00:37:14,440
Speaker 1: Uh Fetterman has done a good job of being you know,

709
00:37:14,600 --> 00:37:18,520
Speaker 1: Mr everyman. I would say the cloud hanging over Uh

710
00:37:18,560 --> 00:37:21,040
Speaker 1: Fetterman right now is just you know, getting back up

711
00:37:21,120 --> 00:37:24,719
Speaker 1: and into the campaign and and showing voters that that

712
00:37:24,840 --> 00:37:27,320
Speaker 1: he's been able to, you know, get beyond the health

713
00:37:27,320 --> 00:37:31,600
Speaker 1: scare and um and and I doubt if Memo Oz

714
00:37:31,600 --> 00:37:35,160
Speaker 1: is gonna let him move too quickly beyond that. How

715
00:37:35,160 --> 00:37:36,719
Speaker 1: does he shut that down? Now he's going to go

716
00:37:36,760 --> 00:37:38,560
Speaker 1: out there and do push ups in the street or something.

717
00:37:38,600 --> 00:37:42,319
Speaker 1: How does Federman make people feel better about his health? Well,

718
00:37:42,320 --> 00:37:45,120
Speaker 1: he started doing public appearances and that helps a lot.

719
00:37:45,320 --> 00:37:47,640
Speaker 1: And yes, I mean he's a big guy. He needs

720
00:37:47,640 --> 00:37:50,520
Speaker 1: to show he's healthy and vibrant and and that'll come

721
00:37:51,120 --> 00:37:53,480
Speaker 1: um and then once that's behind him, I think it'll

722
00:37:53,480 --> 00:37:55,640
Speaker 1: be a pretty robust race. But look, if if he

723
00:37:55,680 --> 00:37:58,000
Speaker 1: does have lingering health problems, that of course will be

724
00:37:58,040 --> 00:38:01,319
Speaker 1: a concern. It's fair for Oz to wait. Remarkably, how

725
00:38:01,360 --> 00:38:05,200
Speaker 1: about this, none of his former TV show co stars

726
00:38:05,320 --> 00:38:08,839
Speaker 1: endorsing his campaign to be continued on the Fastest Hour

727
00:38:08,920 --> 00:38:11,359
Speaker 1: in Politics. Thanks to Rick Davis, as always an al

728
00:38:11,440 --> 00:38:13,880
Speaker 1: matter for joining us today along with the rest of

729
00:38:13,920 --> 00:38:18,640
Speaker 1: our guests, Congressman John Katko and Sally Bakewell. Great conversation

730
00:38:19,080 --> 00:38:20,759
Speaker 1: to learn a lot this week. I'll meet you back

731
00:38:20,760 --> 00:38:22,719
Speaker 1: here Monday. This is Bloomberg.