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Speaker 1: Live from our nation's capital. This is Bloomberg sound on.

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Speaker 1: This is about infrastructure that can lead the economic growth

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Speaker 1: for a generation. We need to make sure that we

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Speaker 1: have fablished the comprehensive fabersecurity strategy. Republicans have a great

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Speaker 1: chance of taking the House. In Floomberg sound on, the insiders,

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Speaker 1: the influencers, the insiders. We continue to open this economy slowly,

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Speaker 1: but it's coming back. I want to know what the

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Speaker 1: theme is going to be for Republicans. I can't imagine

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Speaker 1: a more important person in Washington right now than Senator

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Speaker 1: Joe Manchin. Floomberg sailed on with Joe Matthew on Floomberg Radio.

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Speaker 1: It is Monday, and it has been a busy one

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Speaker 1: here in Washington. President Joe Biden has been dealing with

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Speaker 1: issues ranging from Haiti to Cuba, to gun bounce to

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Speaker 1: getting his signature legislation through his own government. Also, did

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Speaker 1: Speaker Nancy Flosi's husband cross the line when he bet

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Speaker 1: on big tech stocks in the week before a Congressional

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Speaker 1: panel moved key legislation on big tech. And we go

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Speaker 1: down to Texas for the latest election legislation. Although at

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Speaker 1: this very moment, Texas is on this way to d C.

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Speaker 1: I'm Emily will get into here with my co host

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Speaker 1: Jack Fitzpatrick. We've got a lot of great guests today

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Speaker 1: on sound On. But first we're are going to go

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Speaker 1: down the road from Bloomberg Studios where Jack and I sit,

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Speaker 1: to the White House, where Bloomberg's White House correspondent Justin

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Speaker 1: Sink has been covering a variety of stories today. Justin

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Speaker 1: thank you as always for joining us. I wanted to

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Speaker 1: start with President Biden holding a meeting this afternoon with

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Speaker 1: mayor's police chiefs and a soon to be mayor today

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Speaker 1: to discuss arise in violence and gun violence. And looked Justin,

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Speaker 1: Jack and I cover Congress. We know that legislation expanding

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Speaker 1: background checks, which is the one big gun legislation that

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Speaker 1: Democrats are really focused on, that's stalled in Congress right now,

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Speaker 1: and the President can only do so much with executive orders.

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Speaker 1: So tell us a little bit. What was the point

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Speaker 1: of the meeting that the White House had today? What

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Speaker 1: message were they trying to send at this point where

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Speaker 1: DC's hands are pretty much tied up in gridlock on

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Speaker 1: this particular issue. Yeah, I mean, I think, well, thanks

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Speaker 1: for having me, but I think a big part of

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Speaker 1: this was just, UM an effort to be responsive to

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Speaker 1: what has been kind of a dramatic spike over the

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Speaker 1: last eighteen months or so in terms of violent crime

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Speaker 1: and gun crime in in particular. UM, you're right, the

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Speaker 1: sort of legislative avenues that the White House would like

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Speaker 1: to pursue are pretty much locked in the same gridlock

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Speaker 1: that is UM impacting a lot of President Biden's agenda.

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Speaker 1: And when you hold only very narrow majority in both houses, UM,

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Speaker 1: that's going to be particularly true on sticky issues like uh,

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Speaker 1: gun rights. And so what we're seeing today from the

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Speaker 1: White Houses, I'm trying to emphasize two things. One was,

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Speaker 1: in the coronavirus stimulus legislation that passed earlier this year,

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Speaker 1: there was hundreds of millions of dollars for a local

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Speaker 1: government to hire new police officers beef up their police force,

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Speaker 1: and there was additional funding for anti poverty initiatives, job

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Speaker 1: training initiatives, sort of things that go to preventing violence

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Speaker 1: before it happens. And so I think President Biden was

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Speaker 1: trying to tout that and this and let local government

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Speaker 1: officials know that they had those resources available. That's been

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Speaker 1: something the White House has been pushing justin, can you

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Speaker 1: spell out the significance for us of the meeting with

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Speaker 1: Eric Adams, who I believe has referred to himself essentially

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Speaker 1: as the Biden of Brooklyn in terms of the political similarities,

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Speaker 1: in terms of exactly where the Democratic Party stands on policing?

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Speaker 1: What what? How? How did that meeting with Eric Adams going?

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Speaker 1: What's the significance of meeting with him? Yeah? I mean

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Speaker 1: it's interesting because Eric Adams just clinched the Democratic nomination

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Speaker 1: from Era a couple of days ago, and so this

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Speaker 1: is one of his first sort of national stage appearances

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Speaker 1: as potentially the next mayor of New York, and he

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Speaker 1: brought kind of an interesting message to it. He was

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Speaker 1: largely supportive, as you might expect of President Biden's agenda,

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Speaker 1: but Adams was sort of arguing one that or and

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Speaker 1: I guess indifference to Biden, that rather than spending the

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Speaker 1: money on additional police officers getting hired, that he says

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Speaker 1: he wants New York to be able to use that

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Speaker 1: money for job training programs, for education programs, UH, for

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Speaker 1: assistance UH to keep people employed and out of bad situations.

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Speaker 1: And that's something that the President talked about in their

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Speaker 1: meeting himself, and and I think a way that that

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Speaker 1: you know, these two guys who are not you know,

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Speaker 1: Adams used to be in the New York Police Department. Uh,

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Speaker 1: neither he nor Biden was sort of among the Democrats

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Speaker 1: calling for defunding the police, but a sort of third

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Speaker 1: way for them to address this issue of gun violence,

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Speaker 1: um as it's sort of cropping up. Yeah, I know

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Speaker 1: that there are a number of more moderate Democrats who

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Speaker 1: are really trying to distance themselves from the idea of

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Speaker 1: defunding the police. They want to be seen as pro police,

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Speaker 1: as pro law enforcement, but at the same time they

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Speaker 1: also want to make sure that they are bringing legislation

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Speaker 1: that does put more regulations on on guns and guns ownership.

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Speaker 1: Justin I also want to pivot to President Joe Biden

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Speaker 1: also this afternoon, right before that meeting, we have the

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Speaker 1: sound from him expressing the United States support for the

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Speaker 1: protesters this weekend in Cuba, the Cuban people demanding their

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Speaker 1: freedom from an authoritarian regime. And I don't think we've

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Speaker 1: seen any likeness protests uh in a long long time,

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Speaker 1: of course. Frankly, ever, and this is a major protest

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Speaker 1: over the weekend, thousands of Cubans across the country protesting

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Speaker 1: a lack of food, lack of medicine, or response to

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Speaker 1: the coronavirus. Really sort of something that we have seen

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Speaker 1: in the last several decades in that country. You know,

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Speaker 1: Biden and several other lawmakers, they've put out statements in

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Speaker 1: support of these protesters. But justin I'm wondering, should we

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Speaker 1: be expecting more from President Biden here on this situation. Yeah,

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Speaker 1: So the White House says that they're sort of evaluating

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Speaker 1: the protests in ways that they might be helpful, uh

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Speaker 1: in supporting those protesters, and also ways in which they

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Speaker 1: might be able to address sort of some of the

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Speaker 1: underlying concerns that you mentioned. So food and security and

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Speaker 1: and uh coronavirus vaccines are sort of flashpoint issues that

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Speaker 1: were involved in this. But there's also sort of a

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Speaker 1: political element of this as well. Obviously, UM President Biden

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Speaker 1: struggled with Cuban American voters, particularly in in Florida and

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Speaker 1: Miami Dade UM sort of posting some of the worst

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Speaker 1: numbers always seen from Democrats there, and Republicans have said

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Speaker 1: that this is a real sort of political opportunity. So

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Speaker 1: before the President spoke today last night you had sent

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Speaker 1: it or Rubio us from Florida, of course criticized in

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Speaker 1: the administration for not having done enough and for focusing

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Speaker 1: more on, you know, the COVID element of these protests

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Speaker 1: than the sort of general um concerns over the authoritarian

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Speaker 1: regime there. And so you heard Present Biden today sort

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Speaker 1: of addressed that specifically, as so there was a bit

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Speaker 1: of addressing the politics. But here here broader an initial question.

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Speaker 1: I'm not sure right now the White House isn't indicating

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Speaker 1: that we're actually gonna see a change in policy towards Cuba.

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Speaker 1: They're just sort of generally saying that they're monitoring it

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Speaker 1: and in our supportive of those protesters. So justin I

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Speaker 1: want to follow up on on what you just alluded

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Speaker 1: to before, because you know, Cuban President Miguel Diaz Canell

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Speaker 1: said and press conference today actually he blamed Miami's conservative

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Speaker 1: Cuban American mafia in his words, and as you alluded

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Speaker 1: to with the comment from Senator Rubio, you know, there's

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Speaker 1: some back and forth about how much of this unrest

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Speaker 1: is over the low coronavirus vaccination rate versus how much

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Speaker 1: can it be tied actually to uh, the tougher sanctions

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Speaker 1: and restrictions placed on Cuba by the Trump administration. Maybe

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Speaker 1: it's difficult to sum up, but based on what we

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Speaker 1: know right now, how much of this that we're seeing

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Speaker 1: in Cuba can be tied to the President trump policies

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Speaker 1: versus the coronavirus. Yeah, I mean, you know, I think

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Speaker 1: some Democrats would certainly argue that by putting tougher restrictions

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Speaker 1: on Cuba's kind of rolling backs on the things that

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Speaker 1: that President Obama did as they tried to sort of

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Speaker 1: thought our relationship, that it's made economic conditions worse. But

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Speaker 1: you know, the what the White House is making the

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Speaker 1: points today that on perhaps the biggest flashpoint of this issue,

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Speaker 1: right the COVID vaccine, Cuba's kind of struck out on

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Speaker 1: their own. They're developing their own vaccine but not sharing

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Speaker 1: that information with with other countries, and they're not part

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Speaker 1: of KVAS, which is that sort of global system that

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Speaker 1: we've used to distribute uh COVID vaccines, even the countries

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Speaker 1: that that you certainly wouldn't call us sort of natural

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Speaker 1: allies with and so um it's should you know, COVID

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Speaker 1: has been difficult for every nation to navigate, and I

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Speaker 1: think particularly true for for places like Cuba, and and

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Speaker 1: so we're starting to see some of the popular up

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Speaker 1: ride and in response to that. Now, justin I saw

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Speaker 1: I think guys alluded to this, Senator Marco Rubio coming

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Speaker 1: out and saying that Biden needed to affirm that he

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Speaker 1: was going to be keeping Trump's restrictions on Cuba in place.

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Speaker 1: At the same point, you have the chairman of the

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Speaker 1: House Foreign Affairs Committee, Congressman Gregory Meeks, coming out and

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Speaker 1: saying that Biden needs to lift some of these restrictions

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Speaker 1: that Trump put in place. At this point, does the

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Speaker 1: presence of these protests put more pressure on Biden to

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Speaker 1: finally act one way or the other, makes some sort

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Speaker 1: of definitive statement on what he's going to do with

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Speaker 1: some of the additional restrictions we saw former President Trump

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Speaker 1: put on Cuba before he exited office. Yes, So I

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Speaker 1: think you make two good points. One is that, as

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Speaker 1: with many things in Washington, this has turned into sort

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Speaker 1: of a litmus test where you know, Republicans believe that

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Speaker 1: it reinforces their policies and Democrats believe it reinforces their policies. Um.

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Speaker 1: But yes, I do think that this is pushing sort

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Speaker 1: of China or Cuba up the priority lists in a

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Speaker 1: way that it hadn't been before. I remember a couple

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Speaker 1: of months ago, Jansaki was asked about really, you know,

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Speaker 1: sort of reevaluating Cuba policy in terms of how much

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Speaker 1: of a priority that was, and she said it was

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Speaker 1: just sort of admitted that it was fairly low down

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Speaker 1: the list. So, UM, I think that it especially if

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Speaker 1: we see a sustained protests. But because this is the

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Speaker 1: first protest that we've seen, um really in more than

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Speaker 1: a decade that like this in Cuba, it's making it

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Speaker 1: more of a priority for them. Can I ask a

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Speaker 1: real quick one, justin just elsewhere in the Caribbean, what

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Speaker 1: are expectations on troop levels s troop levels in Haiti

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Speaker 1: after the assassination of the Haitian president. What do we

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Speaker 1: know so far about US troop levels there? So we

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Speaker 1: know that the request has been made by the by

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Speaker 1: the Haitians. UM right now the PENTAGONUS says they're they're

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Speaker 1: evaluating that issue. Uh. The White House on a team

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Speaker 1: of experts down a couple of days ago. I think

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Speaker 1: they actually got back last night. They briefed the President

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Speaker 1: this morning, and so they haven't ruled it out, but

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Speaker 1: administration officials say right now that that that it's not

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Speaker 1: um something that they're actively sort of engaging. Now. Well,

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Speaker 1: justin thank you so much for joining us from the

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Speaker 1: White House, taking the time to catch us up on

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Speaker 1: everything going on there. Today tomorrow we are also going

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Speaker 1: to have Congressmen Marrow Diaz are on the show talking

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Speaker 1: more about Cuba. He's from Florida, he knows Cubans. He

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Speaker 1: can talk pretty eloquently about the situation there. All right,

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Speaker 1: I'm Jack Fitzpatrick here on a hot, humid Washington Monday

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Speaker 1: with Emily Wilkins, my co host. We've got Aaron Brown

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Speaker 1: on the line. He's a former managing director and head

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Speaker 1: of financial market research at a q R Capital Management.

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Speaker 1: I want to ask him about his opinion piece on

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Speaker 1: Bloomberg Today titled Pelosi's five million dollar option win is

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Speaker 1: not what it seems, Uh, Aaron, thank you for joining us.

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Speaker 1: I'm trying to distill this down to something simple enough

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Speaker 1: so that it works for a radio audience and also

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Speaker 1: a Washington layman such as myself. Now to give us

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Speaker 1: the background. On June eighteenth, The issue here is on

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Speaker 1: June eighteen, Paul Pelosi, the husband of how speaker Nancy Pelosi,

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Speaker 1: exercised call options on four thousand shares of Alphabet Incorporated

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Speaker 1: with the parent parent company of Google. Uh, that's worth

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Speaker 1: four million dollars. Meaning he is exercising the option to

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Speaker 1: get these shares that are now worth four million dollars

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Speaker 1: under an agreement that gained him about four point eight

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Speaker 1: million dollars. And this hime a week or so before

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Speaker 1: those house markups of big big tech antitrust bills. Now

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Speaker 1: you lay out the argument that the fact that he

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Speaker 1: did this is not indicative of any kind of insider

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Speaker 1: trading concerns or anything like that. But if you could

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Speaker 1: give us the the twenty second version of you know

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Speaker 1: how you would explain this to a five year old,

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Speaker 1: that would be extremely valuable to our, our our audience.

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Speaker 1: What happened here and why do you think this is?

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Speaker 1: This is not really as concerning as as some of

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Speaker 1: the headlines might make it sound. Sure, jack um. First

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Speaker 1: of all, it was ten million dollars of Alphabet stock

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Speaker 1: mat four million, um, And yeah, and he he owned

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Speaker 1: options to buy the four point eight million, which is

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Speaker 1: why he got the five point to million dollar profit um.

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Speaker 1: But the key thing left out of the headlines is

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Speaker 1: that the options expired on June eighteenth. He had no

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Speaker 1: choice but to exercised them, I mean, to fail to exercise,

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Speaker 1: and would he just burning up five point two million

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Speaker 1: dollars um. The other option he had is he could

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Speaker 1: have sold the options, and he could have sold the

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Speaker 1: options for about five point two million dollars to somebody else.

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Speaker 1: But he was either going to exercise him or sell

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Speaker 1: them on June eighteenth. There was no uh, that's no

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Speaker 1: indication of his market position. It was it was a

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Speaker 1: non event he had. Basically he owned for four thousand

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Speaker 1: shares of Alphabet stock before the exercise and after the exercise,

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Speaker 1: and economic terms was just no difference. But what he

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Speaker 1: does is something a lot of investors do. He buys

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Speaker 1: long term options, about eighteen month options on tech stocks,

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Speaker 1: and he does this regularly, and it's a sensible strategy

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Speaker 1: if you want that kind of exposure. There's absolutely no

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Speaker 1: inside information he could have had anything Nancy Pelosi could

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Speaker 1: have known on June eighteenth that would have, you know,

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Speaker 1: made any difference the strategy that the good call he made.

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Speaker 1: The decision he made was back on February seventh when

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Speaker 1: he bought the options that was a great ye, but

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Speaker 1: on June eight tenth just mechanically exercised because otherwise they

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Speaker 1: would have expired. So I don't mean to excessively play

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Speaker 1: devil's advocate, but to get it sort of what what

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Speaker 1: the issues behind the Stock Act requirements on transparency requirements

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Speaker 1: for members of Congress and their their family, I would ask? Okay,

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Speaker 1: so he essentially bet on alphabet it paid off. Is

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Speaker 1: there a concern that, all right, Speaker Pelosi doesn't share

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Speaker 1: inside information about what's going to happen? And nothing particularly

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Speaker 1: surprising happened anyway at that markup of those bills, But

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Speaker 1: is there is there a concern that, you know, if

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Speaker 1: if something bad was coming down the pipeline, if Democrats

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Speaker 1: were planning to take an even more aggressive antitrust position

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Speaker 1: than the public might have known than Paul Pelosi probably

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Speaker 1: would have known that, and the of bad news coming

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Speaker 1: probably gives him even more confidence. And again I don't

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Speaker 1: need to stretch, and that would not even be an

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Speaker 1: accusation of insider trading to my knowledge, but there seems

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Speaker 1: to be a little bit of an issue of if

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Speaker 1: you're owning these shares are if you are involved in

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Speaker 1: a call option coming up, it would probably be nice

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Speaker 1: to live in the same house as Nancy Pelosi. Is

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Speaker 1: that a valid concern in your view? Well, guess and no. Um.

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Speaker 1: The reason I say no in this particular case is

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Speaker 1: he did nothing on Junique team. If he had if

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Speaker 1: he had sold the options, if he had gotten rid

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Speaker 1: of his Apple exposure and I'm sorry, Alphabet exposure, and

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Speaker 1: if Alphabet had gone down a lot in the next week, Yeah,

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Speaker 1: then you have some concerns, you say, you know, he

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Speaker 1: made a you know, a call that looks like it

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Speaker 1: was surprisingly good, but he did nothing. He just held

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Speaker 1: onto the he just exercised the options. Um. So he

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Speaker 1: didn't change his economic position at all. And Alphabet stock

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Speaker 1: went up slightly. So so there's no indication here. What

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Speaker 1: is the red flag? The red flag is when people

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Speaker 1: trade short dated out of the money calls. So if

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Speaker 1: he had gone out and he had bought an Apple

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Speaker 1: call sorry, a call at you know, three thousand dollars,

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Speaker 1: and he had you know, bought it for a week

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Speaker 1: and then something some really big news for Alphabet came

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Speaker 1: out in that week. Yeah, then we would have some

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Speaker 1: insider trading concerns and the sec would get involved and

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Speaker 1: take a look. But when you buy long dated at

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Speaker 1: the money calls, UM, and you do this regularly, UM,

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Speaker 1: you just can't have any concern. Now, as a practical matter,

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Speaker 1: there is no way you can prevent information from waking

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Speaker 1: at And I'm not saying anything bad about Nancy Pelosi

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Speaker 1: or her husband, but it's absolutely impossible to completely segregate information.

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Speaker 1: So yeah, living in the same house with Nancy Pelosi,

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Speaker 1: you're going to pick up some information that could help

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Speaker 1: you in the market. But we just have to concentrate

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Speaker 1: on the trades that are suspicious. We can't you know,

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Speaker 1: somebody's making normal trades. Uh, you know, you just have

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Speaker 1: to live with that. Sure. Aaron Brown, thank you so

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Speaker 1: much for joining us. Aaron's a former managing director and

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Speaker 1: head of financial market research at a q R Capital Management.

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Speaker 1: With that opinion piece earlier today, this is Emily Wilkins

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Speaker 1: back with Jack my co host Jack Fitzpatrick Fillan, and

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Speaker 1: today we are now going to be turning to the

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Speaker 1: issue that is happening across the country, both in state

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Speaker 1: legislatures and at the federal level. On voting. Joining us

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Speaker 1: on the phone is Colorado Secretary of State j Grizzwold.

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Speaker 1: She is also chair of the Democratic Association of Secretaries

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Speaker 1: of State. Secretary, thank you so much for taking the

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Speaker 1: time to join us today. I wanted to start off

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Speaker 1: maybe by just going to the thirty thousand foot view here.

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Speaker 1: I mean, we have this bill that is now being

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Speaker 1: advanced in the Texas State Legislature. You've seen both the

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Speaker 1: House and the Senate go ahead and advance it. Mind you,

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Speaker 1: these are Republicans voting for Democrats are very opposed to

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Speaker 1: this bill, and they say that it's only going to

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Speaker 1: make it harder for individuals to cast votes. Take us

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Speaker 1: through some of the things in this bill, because I'm

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Speaker 1: seeing a lot of different things here, with restrictions on

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Speaker 1: mail mail in ballots, new voter right requirements, but I'm

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Speaker 1: also seeing some provisions that would add extra time for

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Speaker 1: early voting. Well, first off, thank you for having me,

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Speaker 1: and thank you for covering this tremendously important topic. Um

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Speaker 1: First and and foremost, Texas needs more voting access, not less.

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Speaker 1: Texas is one of the hardest places already to cast

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Speaker 1: the ballot in the entire country, and legislators on both

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Speaker 1: sides of the aisle should be expanding the right to vote,

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Speaker 1: not restricting it. The bill, as introduced on July eight,

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Speaker 1: would threaten election officials with prosecution for enacting procedures to

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Speaker 1: make local community needs. It's I've threatened with prosecution giving

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Speaker 1: assistance to voters at voting locations and with mail ballots,

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Speaker 1: risk tricks, UH, some of the access to to be

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Speaker 1: able to cast the ballot, restricts drive through, UM, drop

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Speaker 1: off to the whole host of things UM. And I

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Speaker 1: think I it's worth noting that a lot of the

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Speaker 1: new features that are now going to be restricted if

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Speaker 1: this bill does pass, we're implemented in response to the pandemic,

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Speaker 1: and we're proven to work. That's why we saw just

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Speaker 1: such high turnout all the way across the nation with

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Speaker 1: the expansion of things like dropboxes, UH, mail ballots and

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Speaker 1: early voting, and what we're seeing in Texas right now,

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Speaker 1: this is so incredible what's unfolding. So Democrats obviously don't

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Speaker 1: have the votes to block this legislation from going through,

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Speaker 1: but what they are trying to do is deprive Republicans

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Speaker 1: of a quorum, so the process would have to grind

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Speaker 1: to a halt, and Democrats aren't just walking out of

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Speaker 1: a statehouse. We have seen reporting that Democrats from Texas

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Speaker 1: State Legislature are actually going to be flying to Washington,

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Speaker 1: d C. Where they're going to try and stay and

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Speaker 1: try to impry us upon federal lawmakers the importance of

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Speaker 1: passing voting rights legislation I mean, Secretary, This clearly is

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Speaker 1: something that people are very passionate about. For lawmakers to

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Speaker 1: come that far to come to d C. For how

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Speaker 1: do you see this sort of playing out, because it

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Speaker 1: seems like there are very strong feelings on both sides.

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Speaker 1: What happens in the next year and a half before

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Speaker 1: the mid terms on this issue, well, I think the

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Speaker 1: Texas Democratic legislators actions meet the urgency of the time. Um.

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Speaker 1: What we are seeing right now is the largest coordinated

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Speaker 1: attack on our democracy and voting rights in recent history.

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Speaker 1: And the irony of it all is it comes on

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Speaker 1: the heels of the most secure and one of the

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Speaker 1: highest participated in elections in recent history, and that was

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Speaker 1: general and those high participation rates weren't only among Democrats.

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Speaker 1: It was for Democrats and Republicans. UM. But there are

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Speaker 1: some elected officials, whether they sit in the U. S.

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Speaker 1: Senate or in state legislatures across the nation who did

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Speaker 1: not like the outcome of the election, and so now

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Speaker 1: they're trying to roll back americans freedoms of choosing our

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Speaker 1: elected officials. UM. And it's horrendous. We're seeing pro style

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Speaker 1: voter suppression over four hundred bills and forty seven states, UH,

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Speaker 1: the stripping of authority of secretaries of state, fake audits,

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Speaker 1: all these different things to try to underline competence and

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Speaker 1: elections and suppress the vote. UM. So I think it's

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Speaker 1: good that the Texas Democratic legislators are doing everything they

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Speaker 1: can to preserve the freedoms of Texans, preserve the right

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Speaker 1: to vote. UM. And ultimately, we need Congress to act.

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Speaker 1: Congress must act to save our democracy and ensure that

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Speaker 1: every eligible American, regardless of their zip code, color of skin,

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Speaker 1: or the amount of money in their bank account, has

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Speaker 1: access to stay and secure elections. Secretary Griswold, I want

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Speaker 1: to ask specifically about the issue of voter i D

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Speaker 1: because that's been a really years long national focus for

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Speaker 1: particularly Republicans, and yet it does have a lot of

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Speaker 1: support around the country if you look at polling, even

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Speaker 1: at times among Democrats. There was a Monmouth University poll

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Speaker 1: that came out late last month showing actually sixty two

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Speaker 1: percent support among Democrats pulled as opposed to thirty four

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Speaker 1: percent opposed for voter I D even among voters who

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Speaker 1: say they're concerned about restrictions on on voting. And we

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Speaker 1: heard from Senator Joe Mansion that maybe a national voter

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Speaker 1: I D law could be a trade off if there

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Speaker 1: are other measures expanding the ability to vote. Where do

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Speaker 1: you stand on the the idea of voter I D uh?

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Speaker 1: And and is that as much of a damaging thing

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Speaker 1: as Democrats have claimed in recent years? Well, like I think, UM,

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Speaker 1: with elections, it's really in the specifics. So for example,

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Speaker 1: feel only allow one type of I D, you may

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Speaker 1: be making it much harder for Americans to vote. Here

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Speaker 1: in Colorado, we actually accept sixteen forms of I D UM.

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Speaker 1: And after someone has already voted a mail ballot that

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Speaker 1: the first time, we then do signature verification to make

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Speaker 1: sure that the person voting is indeed who they say

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Speaker 1: they are. UM, and our system works perfectly, um, not

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Speaker 1: not perfectly well, not just perfectly well, it works great.

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Speaker 1: We leave the nation and turnout We've also been commended

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Speaker 1: even by Trump's former v A guest secretary as leeting

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Speaker 1: in cybersecurity and an election security. I think the bigger

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Speaker 1: picture is is the fact that there are some Republican legislators,

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Speaker 1: both at the federal and local level, who are outright

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Speaker 1: lying about the election to take away access, to force

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Speaker 1: Americans to jump through hoops, signing up multiple times to

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Speaker 1: get an absentee ballot, to force them to drive far distances,

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Speaker 1: targeting specifically black voters and voters of color, taking away

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Speaker 1: access that those communities used that shouldn't be allowed. We

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Speaker 1: need to see across this nation every eligible American have

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Speaker 1: access to mail ballots, early voting, same day voter registration,

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Speaker 1: all the tools that were really adopted it to a

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Speaker 1: large extent last year. That word right, Um, we did.

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00:25:21,119 --> 00:25:23,320
Speaker 1: We did see so much of that of that last

434
00:25:23,359 --> 00:25:26,000
Speaker 1: year coming out and definitely keeping an eye home what

435
00:25:26,040 --> 00:25:28,760
Speaker 1: will happen with the elections. Colorado Secretary of State Jennifer's

436
00:25:28,760 --> 00:25:32,280
Speaker 1: Wold Secretary, thank you so much for joining us today

437
00:25:32,480 --> 00:25:35,600
Speaker 1: Happy Monday. I'm Jack Fitzpatrick here with my co host

438
00:25:35,680 --> 00:25:40,400
Speaker 1: Emily Wilkins. We have got Rick Davis and Jeannie Schanzano

439
00:25:40,640 --> 00:25:42,600
Speaker 1: with us on the phone as well. They are our

440
00:25:42,720 --> 00:25:47,200
Speaker 1: old friends, are Bloomberg Politics contributors. Guys, wrapping up the show.

441
00:25:47,240 --> 00:25:49,199
Speaker 1: We're going to talk a little bit about what is

442
00:25:49,240 --> 00:25:51,920
Speaker 1: coming up in Congress, what's coming up this week in Washington.

443
00:25:52,160 --> 00:25:54,960
Speaker 1: But first let's start off with our I guess you

444
00:25:54,960 --> 00:25:57,520
Speaker 1: could call it the the sound on Obit section. I

445
00:25:57,520 --> 00:26:01,080
Speaker 1: thought this was very notable news this morning. Edwin Edwards

446
00:26:01,400 --> 00:26:06,239
Speaker 1: died this morning. Uh. The four term Louisiana governor was,

447
00:26:06,520 --> 00:26:10,040
Speaker 1: to say the least, a colorful character. Uh. He was

448
00:26:10,160 --> 00:26:14,359
Speaker 1: ninety three. Uh. I guess a couple notes on Edwin Edwards,

449
00:26:14,359 --> 00:26:17,200
Speaker 1: and I'm curious to see what Rick and Genie's thoughts are.

450
00:26:17,240 --> 00:26:19,720
Speaker 1: I guess on his legacy. One, you may have heard

451
00:26:20,160 --> 00:26:24,040
Speaker 1: his bizarre quotes, his very colorful quotes. You may have

452
00:26:24,119 --> 00:26:25,840
Speaker 1: heard this one when he ran in the eighties and

453
00:26:25,840 --> 00:26:28,920
Speaker 1: actually did win. Quote, the only way I can lose

454
00:26:28,960 --> 00:26:31,320
Speaker 1: this election is if I'm caught in bed with either

455
00:26:31,400 --> 00:26:34,359
Speaker 1: a dead girl or a live boy, which sounds worse

456
00:26:34,359 --> 00:26:38,360
Speaker 1: when you say it out loud than reading it on paper. Uh. Second,

457
00:26:38,880 --> 00:26:43,520
Speaker 1: he served nearly a decade in prison after his four

458
00:26:43,640 --> 00:26:48,160
Speaker 1: terms as governor, for extorting companies that applied for casino licenses,

459
00:26:48,160 --> 00:26:50,080
Speaker 1: and there there really was sort of this shadow of

460
00:26:50,600 --> 00:26:54,399
Speaker 1: corruption allegations throughout much of his career. Fun fact, I

461
00:26:54,440 --> 00:26:57,040
Speaker 1: don't know if people remember this. Even in his eighties,

462
00:26:57,080 --> 00:26:59,920
Speaker 1: after he got out of prison, he couldn't legally, according

463
00:26:59,920 --> 00:27:02,159
Speaker 1: to state law, run for governor again. So in two

464
00:27:02,200 --> 00:27:04,800
Speaker 1: thousand and fourteen he ran for Congress and actually came

465
00:27:04,840 --> 00:27:07,720
Speaker 1: in first in their jungle primary initially and then lost

466
00:27:08,200 --> 00:27:11,240
Speaker 1: to now Congressman Garrett Graves. We could talk about all

467
00:27:11,240 --> 00:27:15,520
Speaker 1: sorts of trivialities and weird stuff about the career of

468
00:27:15,640 --> 00:27:18,640
Speaker 1: Edwin Edwards, but I'm curious, Rick, you know, I think

469
00:27:18,640 --> 00:27:21,520
Speaker 1: it's it's interesting to sort of look at the legacy

470
00:27:21,560 --> 00:27:23,600
Speaker 1: of a guy for a long time who was sort

471
00:27:23,640 --> 00:27:28,840
Speaker 1: of that uh new deal populist Southern Democrat. What how

472
00:27:28,880 --> 00:27:33,480
Speaker 1: how would you sum up, Rick, the career of Edwin Edwards. Yeah,

473
00:27:33,520 --> 00:27:35,840
Speaker 1: I think I think he was a man way ahead

474
00:27:35,880 --> 00:27:39,040
Speaker 1: of a time. I think he uh fell fell in

475
00:27:39,119 --> 00:27:43,640
Speaker 1: the limelight of Huey Long and other h Louisiana populist

476
00:27:43,680 --> 00:27:47,640
Speaker 1: who really created that movement in Louisiana. And and when

477
00:27:47,640 --> 00:27:51,280
Speaker 1: I was a young man growing up in politics and Alabama. Uh,

478
00:27:51,480 --> 00:27:55,560
Speaker 1: Edwin Edwards was kind of this inspirational figure in Louisiana

479
00:27:55,840 --> 00:27:58,920
Speaker 1: and and we followed him quite a bit because he

480
00:27:58,960 --> 00:28:02,640
Speaker 1: was conservative in any ways, is populism echoes a lot

481
00:28:02,680 --> 00:28:05,280
Speaker 1: of what Donald Trump was doing in the last four

482
00:28:05,359 --> 00:28:08,520
Speaker 1: years of office, and so he maybe was a man

483
00:28:08,560 --> 00:28:11,960
Speaker 1: ahead of his time. But he was really known as

484
00:28:12,040 --> 00:28:16,280
Speaker 1: the Cajun King. He was full of life and and

485
00:28:16,280 --> 00:28:20,240
Speaker 1: and really invented the process of these crazy things. He

486
00:28:20,320 --> 00:28:23,560
Speaker 1: said in the ninety one race against David Duke, who

487
00:28:23,640 --> 00:28:26,520
Speaker 1: you know was part of the KKK, he said, we're

488
00:28:26,520 --> 00:28:30,080
Speaker 1: both wizards under the sheets, leading to the fact that

489
00:28:30,160 --> 00:28:33,879
Speaker 1: he was a ladies man. And yeah, the the that

490
00:28:33,880 --> 00:28:36,720
Speaker 1: that was the other one. I had a hard time picking, uh,

491
00:28:36,760 --> 00:28:40,840
Speaker 1: the colorful Edward Edwin Edwards quote. But the the the

492
00:28:40,880 --> 00:28:42,640
Speaker 1: only thing we have in common is that we've both

493
00:28:42,640 --> 00:28:47,640
Speaker 1: been wizards. Wizards under the sheets is another really notable one.

494
00:28:48,280 --> 00:28:52,920
Speaker 1: Is it about Louisiana and turning out politicians? You're thinking

495
00:28:52,920 --> 00:28:56,560
Speaker 1: of John Kennedy? Who's thinking of John Kennedy? Who if

496
00:28:56,600 --> 00:28:59,000
Speaker 1: you ever, if you are ever a Senate reporter, and

497
00:28:59,040 --> 00:29:00,880
Speaker 1: you would like to get a very a caller for quote,

498
00:29:00,880 --> 00:29:03,960
Speaker 1: I highly recommend finding Senator Kennedy and asking him about

499
00:29:04,000 --> 00:29:08,120
Speaker 1: anything but the mouth from the South is extremely quotable.

500
00:29:08,120 --> 00:29:10,720
Speaker 1: We have joked that, you know, John Kennedy, uh, the

501
00:29:10,840 --> 00:29:15,480
Speaker 1: current Senator of Republican Louisiana, always carries that briefcase around

502
00:29:15,560 --> 00:29:18,120
Speaker 1: with him. We have joked over in the Senate that

503
00:29:18,160 --> 00:29:20,240
Speaker 1: eventually that he's gonna drop. It is gonna fall open,

504
00:29:20,280 --> 00:29:21,920
Speaker 1: and it's just going to be a bunch of one liners.

505
00:29:21,960 --> 00:29:23,560
Speaker 1: It's not going to be legislation. It's just going to

506
00:29:23,640 --> 00:29:26,720
Speaker 1: be his joke books. Um, Genie, I believe Genie is

507
00:29:26,760 --> 00:29:29,680
Speaker 1: back with this. Jeanie Schnzano, how do you how do

508
00:29:29,760 --> 00:29:32,440
Speaker 1: you sum up the legacy of Edwin Edwards. I wanted

509
00:29:32,440 --> 00:29:35,080
Speaker 1: to hear your thoughts on this too. Oh, it's good

510
00:29:35,120 --> 00:29:38,360
Speaker 1: to talk to you. Sorry, I've had technical difficulties. Um so,

511
00:29:38,480 --> 00:29:40,440
Speaker 1: I'm not quite sure I heard the last bit of it.

512
00:29:40,520 --> 00:29:43,560
Speaker 1: But you know, I think as as we've seen populism,

513
00:29:43,720 --> 00:29:46,400
Speaker 1: you know, of late with people like President Trump's and

514
00:29:46,560 --> 00:29:49,400
Speaker 1: and you know, Bernie Sanders and others, this was you know,

515
00:29:49,520 --> 00:29:53,160
Speaker 1: one of the final populist democratic governors like Hughie Long

516
00:29:53,240 --> 00:29:56,120
Speaker 1: and Earl Long and you know, I keep I I

517
00:29:56,160 --> 00:29:58,240
Speaker 1: think I heard you guys talking about some of his quotes.

518
00:29:58,280 --> 00:30:00,360
Speaker 1: Some of them you just can't repeat on year and

519
00:30:00,480 --> 00:30:03,760
Speaker 1: good company, but he did have quite a mouth on him.

520
00:30:04,080 --> 00:30:06,920
Speaker 1: And I think about President from the President Trump's augentic

521
00:30:07,000 --> 00:30:10,280
Speaker 1: comments and and they're sort of a similarity there. So

522
00:30:10,640 --> 00:30:14,240
Speaker 1: as we look ahead to what's coming up this week

523
00:30:14,280 --> 00:30:16,600
Speaker 1: on this Monday, we do have some news that I

524
00:30:16,960 --> 00:30:20,480
Speaker 1: was going to touch on this regardless on the difficulties

525
00:30:20,560 --> 00:30:24,880
Speaker 1: of funding the government, and I actually just saw right

526
00:30:25,000 --> 00:30:28,000
Speaker 1: before we got back from the break, uh, the Senate

527
00:30:28,040 --> 00:30:33,520
Speaker 1: Appropriations Chairman Patrick Leahy is introducing a new emergency spending

528
00:30:33,560 --> 00:30:36,160
Speaker 1: bill for the security needs of the Capital. I know

529
00:30:36,200 --> 00:30:38,880
Speaker 1: this isn't quite as big as a full spending deal,

530
00:30:39,040 --> 00:30:41,760
Speaker 1: is only a three point seven billion dollar bill, but

531
00:30:41,800 --> 00:30:43,960
Speaker 1: I do think this is quite notable as it relates

532
00:30:44,000 --> 00:30:48,520
Speaker 1: to the response to January six. Uh. And you know

533
00:30:48,920 --> 00:30:52,479
Speaker 1: Senator Leahy has warned that the Capitol police here actually

534
00:30:52,560 --> 00:30:56,680
Speaker 1: are at risk of running out of funds for salaries

535
00:30:56,720 --> 00:31:00,280
Speaker 1: as soon as August. I'm curious how this gets apped

536
00:31:00,400 --> 00:31:04,000
Speaker 1: up with the sort of stalemate over how to address

537
00:31:04,080 --> 00:31:08,000
Speaker 1: the the January six riot. Um Rick, do you see

538
00:31:08,520 --> 00:31:10,680
Speaker 1: that much of a path forward. I obviously we're we're

539
00:31:10,720 --> 00:31:13,200
Speaker 1: seeing what's happening in the House with a House Committee

540
00:31:13,240 --> 00:31:15,280
Speaker 1: on January six, But I just wanted to bring this

541
00:31:15,360 --> 00:31:17,760
Speaker 1: up because this is news just this afternoon on a

542
00:31:17,840 --> 00:31:21,400
Speaker 1: new attempt to at least fund the Capitol police. Uh

543
00:31:21,440 --> 00:31:23,840
Speaker 1: and and those types. Is they're much middle ground on

544
00:31:23,880 --> 00:31:26,240
Speaker 1: at least those basics in your opinion, Rick, Yeah, I

545
00:31:26,280 --> 00:31:29,160
Speaker 1: do think there are. I've just seen a report come

546
00:31:29,200 --> 00:31:33,920
Speaker 1: across that Vice Chairman Shelby, the Republican Ranking on Appropriations,

547
00:31:34,640 --> 00:31:38,240
Speaker 1: has issued his own pricing, I think, over six hundred

548
00:31:39,160 --> 00:31:43,840
Speaker 1: million dollars for the funding of the police in the Capital.

549
00:31:43,880 --> 00:31:46,840
Speaker 1: So it seems like both teams Republican and Democratic like

550
00:31:46,960 --> 00:31:49,880
Speaker 1: understand that they really need to get something done on this,

551
00:31:50,000 --> 00:31:52,480
Speaker 1: and so we're moving towards some kind of compromise to

552
00:31:52,520 --> 00:31:55,720
Speaker 1: get something out right away as a supplemental on the

553
00:31:55,800 --> 00:32:00,440
Speaker 1: existing appropriation and looking into the details of the sub blemental,

554
00:32:00,560 --> 00:32:03,640
Speaker 1: as are many of our stellar Bloomberg and Bloomberg government

555
00:32:03,680 --> 00:32:07,240
Speaker 1: reporters all. One of our excellent defense reporters, Roxana Triton,

556
00:32:07,600 --> 00:32:10,360
Speaker 1: points out that there is actually a spot in this

557
00:32:10,520 --> 00:32:15,160
Speaker 1: supplemental for police for Afghans special immigrant visas, and this

558
00:32:15,240 --> 00:32:19,920
Speaker 1: is coming as the US is withdrawing from Afghanistan, but

559
00:32:19,960 --> 00:32:22,080
Speaker 1: they also want to make sure that they're not leading

560
00:32:22,120 --> 00:32:25,320
Speaker 1: behind Afghanis that helped the U S military while they

561
00:32:25,360 --> 00:32:29,160
Speaker 1: were there, be it, as as translators, as individuals who

562
00:32:29,320 --> 00:32:34,080
Speaker 1: helped really work and and provide for the US military.

563
00:32:34,240 --> 00:32:36,600
Speaker 1: And there's been a big debate about making sure that

564
00:32:36,640 --> 00:32:39,760
Speaker 1: they're able to come to the US. And it looks

565
00:32:39,760 --> 00:32:41,920
Speaker 1: like at this point the bill includes a hundred million

566
00:32:41,960 --> 00:32:46,680
Speaker 1: in emergency aid for Afghan refugees UM and it estimates

567
00:32:47,080 --> 00:32:49,920
Speaker 1: that potentially half a million Afghans will be fleeing their

568
00:32:49,960 --> 00:32:53,280
Speaker 1: homes in coming months. Are many more depending on the

569
00:32:53,320 --> 00:32:57,200
Speaker 1: pace of Taliban gains. And maybe that's sort of a

570
00:32:57,280 --> 00:33:00,840
Speaker 1: good topic now to touch on, I mean, as we

571
00:33:01,000 --> 00:33:05,120
Speaker 1: pull out of Afghanistan. Um. Obviously this is going to

572
00:33:05,160 --> 00:33:08,200
Speaker 1: be a continuing story in the next months as we

573
00:33:08,320 --> 00:33:10,920
Speaker 1: see what the impact will be on the country as

574
00:33:10,960 --> 00:33:13,960
Speaker 1: the US leaves. I mean, is there any indication at

575
00:33:13,960 --> 00:33:16,080
Speaker 1: this point, you know, sort of what the future of

576
00:33:16,120 --> 00:33:19,080
Speaker 1: Afghanistan is going to look like? Yeah, I think that

577
00:33:19,160 --> 00:33:21,560
Speaker 1: there's a lot of reporting right now around not just

578
00:33:21,840 --> 00:33:25,120
Speaker 1: these translators, and people who the President has focused on

579
00:33:25,240 --> 00:33:28,720
Speaker 1: getting out of the country and preplace in other places

580
00:33:28,760 --> 00:33:32,040
Speaker 1: where we have military bases and installations. But there are

581
00:33:32,080 --> 00:33:37,800
Speaker 1: thousands of contractors in Americans deployed all across Afghanistan who

582
00:33:37,920 --> 00:33:39,720
Speaker 1: are going to have to be pulled out of there

583
00:33:40,000 --> 00:33:43,440
Speaker 1: while there's still a security envelope that makes it something

584
00:33:43,440 --> 00:33:48,280
Speaker 1: other than the remembrances we all have from the fall

585
00:33:48,320 --> 00:33:52,160
Speaker 1: of Saigon and helicopters taking off from the embassy roof.

586
00:33:52,200 --> 00:33:54,280
Speaker 1: I mean, that's the one thing I know this administration

587
00:33:54,360 --> 00:33:56,040
Speaker 1: is trying to avoid, but there's a lot of work

588
00:33:56,080 --> 00:33:57,640
Speaker 1: to be done if they're going to get there before

589
00:33:57,640 --> 00:34:00,240
Speaker 1: the end of next month. I think it actually is

590
00:34:00,440 --> 00:34:03,640
Speaker 1: a little bit of a sign here. We're seeing so

591
00:34:03,680 --> 00:34:08,799
Speaker 1: many instances of the Afghanistan pull out, making a variety

592
00:34:08,920 --> 00:34:12,799
Speaker 1: of things in Congress difficult to negotiate. This just came

593
00:34:12,920 --> 00:34:16,279
Speaker 1: in from our colleague Eric Wasson over at Bloomberg News,

594
00:34:16,320 --> 00:34:20,280
Speaker 1: who's at the Senate right now, who caught Senator Richard Shelby,

595
00:34:20,320 --> 00:34:24,200
Speaker 1: who is Lady's counterpart. Senator Lahy released this new version

596
00:34:24,200 --> 00:34:26,719
Speaker 1: of a bill really just a fun capital security but

597
00:34:26,800 --> 00:34:30,600
Speaker 1: includes that measure on Afghan visas and Senator Shelby says,

598
00:34:30,640 --> 00:34:32,680
Speaker 1: this is the wrong direction. That doesn't need to be

599
00:34:33,320 --> 00:34:35,560
Speaker 1: included in this bill. This is not the kind of

600
00:34:35,560 --> 00:34:37,759
Speaker 1: bill to address that kind of thing. And you know,

601
00:34:37,800 --> 00:34:40,239
Speaker 1: we were planning on using this segment to just look

602
00:34:40,280 --> 00:34:42,080
Speaker 1: ahead at the at the week ahead, and I you know,

603
00:34:42,120 --> 00:34:46,239
Speaker 1: I've been watching the negotiations over government funding leading up

604
00:34:46,239 --> 00:34:50,799
Speaker 1: to the September thirtieth deadline, and the Afghanistan pull out

605
00:34:51,280 --> 00:34:55,239
Speaker 1: has really complicated those because there's this sort of intractable

606
00:34:55,280 --> 00:34:58,320
Speaker 1: divide over how much money to spend on the military.

607
00:34:58,320 --> 00:35:02,760
Speaker 1: You have progressives calling for an outright cut, Republicans calling

608
00:35:02,840 --> 00:35:08,200
Speaker 1: for much more significant increase than at President Biden has proposed.

609
00:35:08,520 --> 00:35:10,799
Speaker 1: That is my number one thing to look forward to

610
00:35:11,000 --> 00:35:13,319
Speaker 1: this week as they work through their appropriations bills and

611
00:35:13,360 --> 00:35:16,000
Speaker 1: struggle with the question of how much money to provide

612
00:35:16,040 --> 00:35:18,680
Speaker 1: the military. Real quick, what am I missing, Emily? What's

613
00:35:18,719 --> 00:35:20,680
Speaker 1: what else is on your radar this week in Congress?

614
00:35:20,840 --> 00:35:22,920
Speaker 1: I am still really waiting to see if we get

615
00:35:22,960 --> 00:35:27,080
Speaker 1: a text of either the Bipartisan Infrastructure Plan or the

616
00:35:27,160 --> 00:35:30,759
Speaker 1: Democrats Budget Resolution. Just a reminder for everyone who's not

617
00:35:30,880 --> 00:35:33,279
Speaker 1: in the weeds every day in Washington, you keep hearing

618
00:35:33,320 --> 00:35:36,320
Speaker 1: about that four trillion, six trillion, two trillion, three trillion,

619
00:35:36,360 --> 00:35:39,440
Speaker 1: whatever trillion reconciliation package that is still in the works.

620
00:35:39,800 --> 00:35:42,160
Speaker 1: For that to be done, they first must pass a

621
00:35:42,239 --> 00:35:44,960
Speaker 1: budget resolution and we have been expecting to see the

622
00:35:45,040 --> 00:35:47,960
Speaker 1: details on that come out. We saw a draft six

623
00:35:48,000 --> 00:35:50,879
Speaker 1: trillion dollar proposal. Of course, some Democrats want a little

624
00:35:50,880 --> 00:35:53,759
Speaker 1: bit less, so we're looking for the actual text on

625
00:35:53,840 --> 00:35:56,640
Speaker 1: that to appear. So, you know, devil's always in the

626
00:35:56,680 --> 00:35:59,120
Speaker 1: details on on these types of things, and that's what

627
00:35:59,160 --> 00:36:02,680
Speaker 1: we'll be looking for right busy beginning of a busy

628
00:36:02,760 --> 00:36:05,680
Speaker 1: week here. Uh. That's just about it for us. Thank

629
00:36:05,680 --> 00:36:08,799
Speaker 1: you again to Justin Sink, Bloomberg White House reporter who

630
00:36:08,840 --> 00:36:11,040
Speaker 1: walked us through everything we wanted to know about Cuba,

631
00:36:11,280 --> 00:36:13,680
Speaker 1: Aaron Brown who wrote that piece that you can find

632
00:36:13,680 --> 00:36:18,560
Speaker 1: on the Bloomberg terminal on the Pelosi uh investment issue

633
00:36:18,560 --> 00:36:20,880
Speaker 1: that's been in the news, and of course to Jenna Griswold,

634
00:36:20,960 --> 00:36:24,399
Speaker 1: the Colorado Secretary of State, for walking us through voting rights.

635
00:36:24,640 --> 00:36:27,440
Speaker 1: That's it for me and Emily Wilkins. This is Bloomberg