WEBVTT - Elon's New Party - July 7th, Hour 2

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<v Speaker 1>Hi if Peter Schweizer, that's Eric Eggers. We're filling in

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<v Speaker 1>for Sean. We want you to join the conversation, specifically,

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<v Speaker 1>a question about this new political party that Elon Musk

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<v Speaker 1>might be forming, the so called America Party. Mark Cuban

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<v Speaker 1>says he's in the Texas Billionaire and Anthony Scarmucci, the

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<v Speaker 1>former spokesman for Donald Trump the first term, both say

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<v Speaker 1>they want to join this political party. Would you the audience,

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<v Speaker 1>consider joining the America Party. We want to hear from you.

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<v Speaker 1>One eight hundred nine for one Shawn one nine one

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<v Speaker 1>seven two six.

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<v Speaker 2>Yeah.

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<v Speaker 3>There was a moment over the weekend when the idea

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<v Speaker 3>of Elon Musk, the billionaire who helped get Donald Trump elected,

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<v Speaker 3>announcing the creation of a new political party might have

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<v Speaker 3>been considered the biggest story of the weekend. Uh And

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<v Speaker 3>then Donald Trump signs this big, beautiful bill, The New

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<v Speaker 3>York Times outs the you know, mom, Donnie for cultural appropriation.

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<v Speaker 3>And then, of course, last night we get this bombshell

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<v Speaker 3>announcement from the United States Government, or at least from Axio,

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<v Speaker 3>saying that the United States Government has no evidence of

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<v Speaker 3>any attempts by Jeffrey Epstein to blackmail people, essentially saying

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<v Speaker 3>there's nothing more to see here. They are shutting down

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<v Speaker 3>the investigation. A lot of people are reacting very strongly

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<v Speaker 3>to that news, and so we thought who better to

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<v Speaker 3>discuss that than former Epstein attorney David Shoon, who joins

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<v Speaker 3>us now the Sean Handy Programs to Shoan, how are you?

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<v Speaker 2>Thanks? Thanks for having me on.

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<v Speaker 3>We're great. We would love to get just your reaction

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<v Speaker 3>to the announcement. Last night, Axios gave an excerpt from

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<v Speaker 3>this memo that has been on Earth from the Department

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<v Speaker 3>of Justice, saying, quote, this systematic review related revealed no

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<v Speaker 3>incriminating client list. There was no credible evidence found that

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<v Speaker 3>Jeffrey Epstein blackmailed prominent individuals as part of his actions,

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<v Speaker 3>and we did not uncover evidence that could predicate an

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<v Speaker 3>investigation against uncharged third parties. Your reaction to a that

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<v Speaker 3>news and the fact that they're admitting this now.

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<v Speaker 2>I'm not surprised by it whatsoever. I never thought that

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<v Speaker 2>there would be a client list or that he was

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<v Speaker 2>involved in any effort to blackmail anyone. Remember, you know

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<v Speaker 2>I knew him pretty well. He trusts me, he said

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<v Speaker 2>once to his in house counsel who said to me

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<v Speaker 2>that I was the only person in the world he

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<v Speaker 2>trusted with his life, and that's why I hired me

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<v Speaker 2>to take over his criminal case. For about a year

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<v Speaker 2>before he died, he was asking me to review his

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<v Speaker 2>lawyer's work. He had a battery of some of the

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<v Speaker 2>top lawyers in the country representing him for a long time.

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<v Speaker 2>So I was very flattered when he asked me to

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<v Speaker 2>take over the case when he was really facing criminal charges.

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<v Speaker 2>But you know, look, if he had information to use

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<v Speaker 2>against other people, logically he would have used it in

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<v Speaker 2>his case, and that would have been the first thing

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<v Speaker 2>that would have used because he certainly could have helped himself.

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<v Speaker 2>I know that there have been all of these stories,

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<v Speaker 2>that there must be files out there in a client list,

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<v Speaker 2>and all that I've never believed it. Frankly, now, listen,

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<v Speaker 2>that doesn't Meanybody knows he ran with wealthy and powerful people.

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<v Speaker 2>He entertained them in his home, he flew with them,

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<v Speaker 2>and so on. Part of what sticks and micro about

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<v Speaker 2>all this is by the way that those people really

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<v Speaker 2>enjoyed their time with him. They used him also, And

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<v Speaker 2>all of a sudden, when the stories came out and

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<v Speaker 2>he was charged with a crime, they all cut their

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<v Speaker 2>ties with him as if they had never known him,

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<v Speaker 2>and so on. I'll tell you one last interesting thing.

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<v Speaker 2>I wanted to just mention. He had a very interesting

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<v Speaker 2>photo array at his home of some of the wealthy people.

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<v Speaker 2>And so for example, he had a picture there of

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<v Speaker 2>Bill Gates with a dollar bill in it. So I

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<v Speaker 2>asked him, you know, what's this all about. He said, well,

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<v Speaker 2>he made a bet with Bill Gates, and what was

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<v Speaker 2>he going to bet Bill Gates? So he bet him

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<v Speaker 2>a dollar and he won. There's no question he had

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<v Speaker 2>close contact with these people, but I don't think there's

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<v Speaker 2>any evidence of, you know, anything further than that, and

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<v Speaker 2>in terms of any kind of list or blackmail effort.

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<v Speaker 1>Yeah, I mean that's the interesting question to me, right,

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<v Speaker 1>is there's no question that he has these relationships. So

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<v Speaker 1>you said, whatever the extent of those relationships, we don't

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<v Speaker 1>fully know. But the fact that there is is the

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<v Speaker 1>Department Justice as not a quote unquote client list, doesn't

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<v Speaker 1>mean that there isn't necessarily a problem that some of

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<v Speaker 1>these people have in terms of what their relationship was

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<v Speaker 1>with Epstein. We were talking earlier on the show about this.

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<v Speaker 1>JP Morgan situation where you know, apparently they admitted that Epstein,

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<v Speaker 1>over the courses his relationship had you know, drawn I

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<v Speaker 1>think a billion dollars through JP Morgan accounts. There were

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<v Speaker 1>claims that this was related to human trafficking. My question

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<v Speaker 1>for you is, what do you think is perhaps the

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<v Speaker 1>culpability or the vulnerability that these wealthy individuals have, because,

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<v Speaker 1>as you pointed out, they clearly enjoy the relationship. I

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<v Speaker 1>don't think it was coercive. I don't think that he

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<v Speaker 1>was somehow manipulating them. It was a friendship. Do you

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<v Speaker 1>believe that there is any legal culpability or problems not

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<v Speaker 1>naming any particular individuals with some the people that he

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<v Speaker 1>was spending time.

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<v Speaker 2>With, I don't think so, quite frankly, And I'll say

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<v Speaker 2>this about the blackmail effort. Listen. I know people have

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<v Speaker 2>painted Jeffrey Epstein as his monster and someone from the

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<v Speaker 2>way I knew him, I don't think he was a

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<v Speaker 2>kind of person who would blackmail someone had that in mind.

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<v Speaker 2>He was a different sort of guy obviously in many ways.

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<v Speaker 2>But he enjoyed their company, they enjoyed his, and he

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<v Speaker 2>wasn't a guy who wanted to then, you know, get

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<v Speaker 2>people in trouble or expose what they did. So much

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<v Speaker 2>has never come out about the Epstein story because it

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<v Speaker 2>doesn't play well in the media. But you know, you

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<v Speaker 2>should be aware of the listeners should be aware. There

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<v Speaker 2>was a woman who sent young women to him, who

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<v Speaker 2>gave a sworn statement to the FBI, who said Jeffrey

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<v Speaker 2>Epstein had one rule, no one under eighteen ever. And

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<v Speaker 2>so she told these people you better either have a

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<v Speaker 2>fake ID or be over eighteen, because he'll throw you

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<v Speaker 2>out if he doesn't think you're eighteen. Now, nobody who

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<v Speaker 2>believes the monster story about Jeffrey Epstein would ever believe that.

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<v Speaker 2>But this is a sworn statement, you know, under oath

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<v Speaker 2>by this woman. So I don't think we've really seen

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<v Speaker 2>the full picture of Jeffrey Epstein. But listen, I don't

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<v Speaker 2>think these people have vulnerability. I was surprised when organizations

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<v Speaker 2>gave back his charitable donations. Quite frankly. I thought they

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<v Speaker 2>should have taken them and enjoyed them. And they were

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<v Speaker 2>and put them to good use.

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<v Speaker 1>So what do you on the question of the suicide. Clearly,

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<v Speaker 1>Epstein's brother says he does not believe that he committed suicide.

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<v Speaker 1>He believed that he was killed. FBI is saying conclusively

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<v Speaker 1>that he did commit suicide. Any thoughts that you have

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<v Speaker 1>on the interactions that you had with Epstein on that question.

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<v Speaker 2>Sure, absolutely, Listen, nobody knows for sure, but I've said

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<v Speaker 2>all along that I don't believe it was suicide for

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<v Speaker 2>two reasons. Primarily one anecdotically, I'd met with him nine

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<v Speaker 2>days before he died. He hired me to take over

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<v Speaker 2>his case. He also asked me to do some other

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<v Speaker 2>work for him, not related to not related to the case,

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<v Speaker 2>that only had an impact going forward. The Friday before

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<v Speaker 2>he died on Saturday, the people around him told me

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<v Speaker 2>he was barking out orders to do the things that

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<v Speaker 2>he and I had discussed would need to be done

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<v Speaker 2>to go forward with the case. I said to him,

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<v Speaker 2>I would take over the case, but the understanding I

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<v Speaker 2>would have to meet with his current lawyers and either

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<v Speaker 2>they approved it or I would bring in my own team,

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<v Speaker 2>and I had already put together another team. All of

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<v Speaker 2>that was finding him. We arranged a fee agreement, and

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<v Speaker 2>so on. That's one anecdotally. Number two. Michael Boden, in

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<v Speaker 2>my view, is the top forensic medical examiner in the world.

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<v Speaker 2>He examined Jeffrey Epstein's body with the New York Medical Examiner.

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<v Speaker 2>During that independent examination, the medical examiner said to him

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<v Speaker 2>she could not this as an assistant, she could not

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<v Speaker 2>conclusively say what the cause of death was. Four days later,

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<v Speaker 2>they said suicide without any additional evidence. Boden says, in

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<v Speaker 2>all of the thousands and thousands of cases he's done,

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<v Speaker 2>he has never seen injuries like this consistent with suicide. Period.

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<v Speaker 3>We're talking to you. A former attorney for Jeffrey Epstein,

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<v Speaker 3>David shown. David, you are the son of an FBI agent.

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<v Speaker 3>I know he died when you were quite young, but

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<v Speaker 3>you are you're your father was an FBI agent. What

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<v Speaker 3>do you make of then the people who run the

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<v Speaker 3>FBI claiming the opposite and trying to Lea's evidence of

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<v Speaker 3>this footage of the jail cell showing allegedly no one

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<v Speaker 3>entering this door that they offer up as proof that

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<v Speaker 3>he did kill himself.

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<v Speaker 2>Yeah, I'm disappointed by it because I don't think they

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<v Speaker 2>can say with any level of certainty whether it was

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<v Speaker 2>suicide or not. And I don't like the idea of

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<v Speaker 2>putting their impromater on the idea conclusively that was suicide. Obviously.

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<v Speaker 2>You know, I'm a huge fan of the FBI. My

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<v Speaker 2>dad was one of my real heroes in the world.

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<v Speaker 2>I have all of his memorabilia. But I don't think

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<v Speaker 2>in this case that's fair. I think maybe they thought

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<v Speaker 2>there was some need for finality all of that. But

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<v Speaker 2>if Michael Bodden says otherwise, I take him over the oh,

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<v Speaker 2>the FBI on a forensic matter.

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<v Speaker 1>Yeah, the question then, David is and I'm not asking

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<v Speaker 1>for a list of names per se. But then, if

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<v Speaker 1>you believe that he did not commit suicide, what's the

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<v Speaker 1>profile of the person you think that killed Jeffrey Epstein.

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<v Speaker 1>If he did not commit suicide, who would want him dead?

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<v Speaker 2>That's the puzzling part of it. I don't subscribe to

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<v Speaker 2>conspiracy theory, although many people did. He had a lot

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<v Speaker 2>of information and so on. Usually in this kind of situation,

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<v Speaker 2>it would be someone who wants to get credit for killing,

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<v Speaker 2>you know, a sex offender, that sort of thing, especially

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<v Speaker 2>a high profile person. That's the odd thing in this case,

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<v Speaker 2>no one has come forward for credit. You do know,

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<v Speaker 2>I'm sure though, that he was in prison. He was

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<v Speaker 2>locked up there at the MCC with a guy who

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<v Speaker 2>was a hitman for the Mexican mafia, allegedly former policeman,

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<v Speaker 2>huge guy. They moved that guy out and then they

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<v Speaker 2>moved him in with a druggie. Was very upsetting to him.

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<v Speaker 2>And two weeks before this there was an incident with

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<v Speaker 2>the first fellow he was in with in which they

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<v Speaker 2>called it an attempted suicide. It was not, but he

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<v Speaker 2>didn't want to get the guy in trouble anyway. The profile,

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<v Speaker 2>in my view, ought to be someone, you know, who

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<v Speaker 2>really wanted the publicity from it. No one has taken

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<v Speaker 2>credit for it. So that's the oddity. That's what I

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<v Speaker 2>can answer.

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<v Speaker 3>That's one of the oddities. In addition to representing Jeffrey Epstein,

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<v Speaker 3>you also represented at a second impeachment trial form President

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<v Speaker 3>Donald Trump. His spokes and Carolyn Lovett, was asked about

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<v Speaker 3>the FBI's announcement today as it relates to the Epstein case.

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<v Speaker 3>Here's what she had to say. Here's that interaction with

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<v Speaker 3>a reporter.

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<v Speaker 4>So the FBI looks at the circumstances surrounding the death

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<v Speaker 4>of Jeffrey Epstein. According to the report, this systematic review

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<v Speaker 4>revealed no incriminating client list. So what happened to the

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<v Speaker 4>Epstein client list that the Attorney General said she had

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<v Speaker 4>on her desk.

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<v Speaker 5>Well, I think if you go back and look at

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<v Speaker 5>what the Attorney General said in that interview, which was

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<v Speaker 5>on your network on.

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<v Speaker 4>Fox News, go ahead, and Roberts said, DOJ may be

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<v Speaker 4>releasing the list of Jeffrey Epstein's clients. Will that really happen?

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<v Speaker 4>And she said, it's sitting on my desk right now

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<v Speaker 4>to review.

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<v Speaker 1>The DOJ may be releasing the list of Jeffrey Epstein's clients. Well,

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<v Speaker 1>that really happen.

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<v Speaker 3>It's sitting on my desk right now to review.

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<v Speaker 5>Yes, she was saying the entirety of all of the paperwork,

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<v Speaker 5>all of the paper in relation to Jeffrey Epstein's crimes.

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<v Speaker 5>That's what the Attorney General was referring to. And I'll

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<v Speaker 5>let her speak for but again, when it comes to

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<v Speaker 5>the FBI and the Department of Justice, they are more

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<v Speaker 5>than committed to ensuring that bad people are put behind bars.

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<v Speaker 3>Just your reaction to how you feel like the FBI

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<v Speaker 3>has handled all of this, including since Donald Trump's election

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<v Speaker 3>and the promises that were made and now the clear

0:11:18.760 --> 0:11:19.760
<v Speaker 3>shift in tone.

0:11:20.320 --> 0:11:23.400
<v Speaker 2>Right, Well, that's part of sort of a rush to

0:11:23.480 --> 0:11:25.600
<v Speaker 2>go to the media and so on. I think that

0:11:25.920 --> 0:11:29.040
<v Speaker 2>Karon Levitt's explanation is perfectly plausible. I do think the

0:11:29.040 --> 0:11:32.280
<v Speaker 2>Attorney General is referring to document they file Jeffrey Epstein

0:11:32.320 --> 0:11:34.920
<v Speaker 2>file that was on her desk she said to be reviewed.

0:11:35.240 --> 0:11:37.640
<v Speaker 2>There's no such thing. I don't believe there's any such

0:11:37.679 --> 0:11:39.560
<v Speaker 2>thing as a client list. And by the way, you

0:11:39.559 --> 0:11:42.120
<v Speaker 2>can be sure in this day and age, if there were,

0:11:42.400 --> 0:11:44.160
<v Speaker 2>it would have leaked out. You know the number of

0:11:44.240 --> 0:11:47.040
<v Speaker 2>FBI agents who searched his premises, people in the US

0:11:47.080 --> 0:11:51.000
<v Speaker 2>Attorney's office, including mister Comy's daughter who is on the

0:11:51.040 --> 0:11:53.839
<v Speaker 2>related case. You can be sure that there would be

0:11:53.960 --> 0:11:56.679
<v Speaker 2>leaks about this client list and some names on it

0:11:56.760 --> 0:11:59.079
<v Speaker 2>if there really were client lists. That's my view of things.

0:12:00.120 --> 0:12:02.640
<v Speaker 1>We're talking to David Shoon, who is an attorney for

0:12:03.280 --> 0:12:07.640
<v Speaker 1>Epstein when he was incarcerated, also has represented Donald Trump

0:12:07.679 --> 0:12:11.080
<v Speaker 1>in the impeachment hearings. David, and again, I'm not talking

0:12:11.080 --> 0:12:13.240
<v Speaker 1>about particular names here, but it just seems to me

0:12:13.400 --> 0:12:17.200
<v Speaker 1>that as you acknowledged Epstein had this let's say, very

0:12:17.240 --> 0:12:22.920
<v Speaker 1>destructive lifestyle, these relationships that he had with women, it

0:12:22.960 --> 0:12:25.319
<v Speaker 1>seems to me that based on the stuff that came

0:12:25.360 --> 0:12:27.800
<v Speaker 1>out from JP Morgan a more than a billion dollars

0:12:27.840 --> 0:12:31.839
<v Speaker 1>went through that they said was related to human trafficking.

0:12:32.960 --> 0:12:34.920
<v Speaker 1>It's hard for me to believe that Epstein kind of

0:12:34.960 --> 0:12:38.400
<v Speaker 1>did this and kept it to himself, right, that none

0:12:38.400 --> 0:12:40.360
<v Speaker 1>of the friends that went to the island, no one

0:12:40.400 --> 0:12:44.640
<v Speaker 1>at all participated in this except for Epstein himself. So

0:12:44.760 --> 0:12:48.440
<v Speaker 1>that seems to me to raise the question. It wasn't

0:12:48.480 --> 0:12:51.480
<v Speaker 1>coercion necessarily, as you said, it doesn't have to be blackmail.

0:12:51.520 --> 0:12:54.400
<v Speaker 1>It could have just been you know, friends hanging out

0:12:54.679 --> 0:12:58.920
<v Speaker 1>of friends doing this stuff together. The problem that I

0:12:59.080 --> 0:13:01.840
<v Speaker 1>have with this case is it seems like you had

0:13:01.960 --> 0:13:04.840
<v Speaker 1>this massive amount of human trafficing that was taking place

0:13:04.960 --> 0:13:08.400
<v Speaker 1>just on this one billion dollar figure. You had Maxwell

0:13:08.720 --> 0:13:11.160
<v Speaker 1>go to jail, But there doesn't seem to have been

0:13:11.280 --> 0:13:15.360
<v Speaker 1>any other investigation, certainly not any other prosecutions of anybody

0:13:15.400 --> 0:13:19.439
<v Speaker 1>else that could have been involved in this prostitution slash

0:13:19.800 --> 0:13:21.560
<v Speaker 1>human trafficking. What's your thoughts on that?

0:13:22.040 --> 0:13:25.839
<v Speaker 2>Well, look, you're is a fair and important point, without

0:13:25.880 --> 0:13:29.040
<v Speaker 2>any question. Look, my personal belief is that many of

0:13:29.080 --> 0:13:32.960
<v Speaker 2>those wealthy people and so called prominent people engaged in

0:13:33.000 --> 0:13:37.120
<v Speaker 2>his activities with him at the various places, but there

0:13:37.160 --> 0:13:39.040
<v Speaker 2>may well not be a sufficient proof of it and

0:13:39.080 --> 0:13:41.800
<v Speaker 2>so on. You know, I spoke out the other day

0:13:42.400 --> 0:13:44.800
<v Speaker 2>and I don't talk about any sort of attorney client

0:13:44.800 --> 0:13:47.440
<v Speaker 2>privileged information, but I spoke out the other day when

0:13:47.559 --> 0:13:52.000
<v Speaker 2>mister Musk suggested that the reason records hadn't been produced

0:13:52.320 --> 0:13:54.880
<v Speaker 2>is because someone was covering up from mister Trump. I

0:13:54.880 --> 0:13:57.920
<v Speaker 2>can tell you unequivocally as I have said, that Jeffrey

0:13:57.960 --> 0:14:02.760
<v Speaker 2>Epstein had no information whatsoever about any nefarious activity with

0:14:02.840 --> 0:14:05.480
<v Speaker 2>Donald Trump, and I thought there was an important point

0:14:05.480 --> 0:14:08.200
<v Speaker 2>to make. That's what happens these rumors get out there.

0:14:08.400 --> 0:14:11.080
<v Speaker 2>I'm personally not one hundred percent satisfied with the JP

0:14:11.160 --> 0:14:14.199
<v Speaker 2>Morgan figure that they can track that money to the

0:14:14.280 --> 0:14:16.720
<v Speaker 2>human trafficking and all that. That's a different question. You

0:14:16.760 --> 0:14:20.760
<v Speaker 2>ask an important question, why haven't there been any other investigations?

0:14:20.840 --> 0:14:22.800
<v Speaker 2>And you can be sure again miss Maxwell would have

0:14:23.000 --> 0:14:26.040
<v Speaker 2>spoken about other incidents that she was aware of, and

0:14:26.040 --> 0:14:28.000
<v Speaker 2>she would have been aware of them. So I don't

0:14:28.000 --> 0:14:28.960
<v Speaker 2>have the answer to that.

0:14:29.840 --> 0:14:31.800
<v Speaker 3>Well, we do know, and David Show, we appreciate your

0:14:31.800 --> 0:14:34.920
<v Speaker 3>time today. While the FBI is attempting to, I think

0:14:35.200 --> 0:14:39.640
<v Speaker 3>end the discussion with their memo yesterday. The fact that

0:14:39.720 --> 0:14:41.160
<v Speaker 3>we are talking about as much as we are a

0:14:41.200 --> 0:14:42.800
<v Speaker 3>lot of other people are talking about it suggests that

0:14:42.840 --> 0:14:45.160
<v Speaker 3>the opposite is true. So David showan thank you for

0:14:45.160 --> 0:14:47.720
<v Speaker 3>your time. He's Peter Schweizer. I'm Eric Eggers. We host

0:14:47.720 --> 0:14:49.800
<v Speaker 3>the podcast called The Drill Down. You can find at

0:14:49.800 --> 0:14:51.840
<v Speaker 3>the drill down dot com. We'll be back with more

0:14:51.880 --> 0:14:53.160
<v Speaker 3>Sean Handy Show right after this.

0:14:54.320 --> 0:14:56.880
<v Speaker 1>I'm Peter Schweizer. This is Eric Eggers. We are filling

0:14:56.920 --> 0:14:59.400
<v Speaker 1>in for the Sean Hannity Show today. We want you

0:14:59.440 --> 0:15:01.280
<v Speaker 1>to join the car Conversation one in eight hundred nine

0:15:01.360 --> 0:15:05.040
<v Speaker 1>four one seven, three two six So interesting. The Epstein

0:15:05.080 --> 0:15:07.440
<v Speaker 1>bombshell that came out the conversation that we just had

0:15:07.520 --> 0:15:11.200
<v Speaker 1>with David shown here's the problem. One of the problems

0:15:11.800 --> 0:15:15.880
<v Speaker 1>people don't trust what the government has to say, even

0:15:16.000 --> 0:15:18.560
<v Speaker 1>if it is people that they are familiar and comfortable with,

0:15:18.760 --> 0:15:21.600
<v Speaker 1>like Cash Battel or like Panbonni. They don't trust the

0:15:21.640 --> 0:15:24.120
<v Speaker 1>bowels of government. And one of the reasons, of course,

0:15:24.160 --> 0:15:27.760
<v Speaker 1>is we had another revelation break right before the July

0:15:27.880 --> 0:15:32.120
<v Speaker 1>fourth holiday, and that was this CIA assessment about Russia

0:15:32.160 --> 0:15:35.800
<v Speaker 1>Gate and the fact that they were simply pushing product

0:15:35.840 --> 0:15:38.360
<v Speaker 1>that they did not have confidence in. They claimed that

0:15:38.400 --> 0:15:41.280
<v Speaker 1>it was high confidence that they had all this evidence

0:15:41.320 --> 0:15:43.640
<v Speaker 1>that it was Russia collusion, when they admitted that they

0:15:43.680 --> 0:15:46.400
<v Speaker 1>only had one source and low confidence in it. That's

0:15:46.440 --> 0:15:49.000
<v Speaker 1>the problem, Peter Schweizer, that is Eric Eggers. We are

0:15:49.040 --> 0:15:51.960
<v Speaker 1>filling in for Sean today. We have a podcast called

0:15:52.000 --> 0:15:55.760
<v Speaker 1>The Drill Down. Please consider subscribing to it. We want

0:15:55.760 --> 0:15:57.480
<v Speaker 1>you to join the conversation. We're going to get a

0:15:57.520 --> 0:16:00.520
<v Speaker 1>little political here now right. We talked about the tragedy

0:16:00.560 --> 0:16:04.120
<v Speaker 1>in Texas and the heroic efforts of the Coastguard. We've

0:16:04.160 --> 0:16:08.520
<v Speaker 1>talked about the attempted killing of ICE agents. We've talked

0:16:08.520 --> 0:16:13.800
<v Speaker 1>about the Jeffrey Epstein ruling from the DOJ and the FBI.

0:16:14.120 --> 0:16:19.240
<v Speaker 1>Let's talk about the big, beautiful bill. It passed barely

0:16:19.600 --> 0:16:21.680
<v Speaker 1>passed by a couple of votes in the House. It

0:16:21.760 --> 0:16:24.160
<v Speaker 1>passed in the Senate because Vice President J. D. Vance

0:16:24.240 --> 0:16:27.120
<v Speaker 1>had to come in and cast the deciding vote. But

0:16:27.200 --> 0:16:30.880
<v Speaker 1>it was signed by President Trump, and it's very interesting

0:16:31.520 --> 0:16:33.440
<v Speaker 1>the tensions that have been created. We want to talk

0:16:33.440 --> 0:16:36.360
<v Speaker 1>about the details of the bill, but also some of

0:16:36.400 --> 0:16:38.920
<v Speaker 1>the reaction the Democrats is kind of predictable. But you

0:16:38.960 --> 0:16:41.560
<v Speaker 1>also have Elon Musk out there wanting to start the

0:16:41.800 --> 0:16:42.880
<v Speaker 1>America Party.

0:16:43.240 --> 0:16:47.120
<v Speaker 3>Yeah, we'll talk about Elon Musk, who's been steadfastly opposed

0:16:47.160 --> 0:16:49.760
<v Speaker 3>to this bill, and we'll talk about his desire to

0:16:49.800 --> 0:16:52.400
<v Speaker 3>create the America Party. Would love to hear your perspective

0:16:52.440 --> 0:16:54.640
<v Speaker 3>on it. Give us a call. One eight hundred nine

0:16:54.760 --> 0:16:58.160
<v Speaker 3>four one seven three two six that's nine four one Sean.

0:16:58.560 --> 0:17:01.840
<v Speaker 3>Do you support the passage of the bill as in

0:17:02.320 --> 0:17:05.800
<v Speaker 3>contrast with Elon Musk? I think there's several fascinating things

0:17:05.840 --> 0:17:09.240
<v Speaker 3>about the past of this bill. Obviously a key tenant

0:17:09.400 --> 0:17:12.600
<v Speaker 3>of the Trump administration. You know, it's been a massive priority.

0:17:12.640 --> 0:17:15.280
<v Speaker 3>They did a whole bill signing ceremony on the fourth

0:17:15.320 --> 0:17:17.720
<v Speaker 3>of July. They said they wanted to do that. There

0:17:17.800 --> 0:17:20.480
<v Speaker 3>was and it's a credit to him and his political

0:17:20.520 --> 0:17:23.080
<v Speaker 3>ability they were able to get it done by these

0:17:23.160 --> 0:17:25.159
<v Speaker 3>narrow margins. You also, by the way, I think have

0:17:25.200 --> 0:17:28.320
<v Speaker 3>to give Donald Trump credit just as a branding expert.

0:17:28.359 --> 0:17:30.320
<v Speaker 3>We were talking about this a little bit earlier. What

0:17:30.440 --> 0:17:35.199
<v Speaker 3>was the signature policy accomplishment of the Obama administration.

0:17:34.760 --> 0:17:36.520
<v Speaker 1>The Affordable Care Act, the Obamacare.

0:17:36.600 --> 0:17:38.920
<v Speaker 3>Yeah, they called it the Affordable Care Act. No one

0:17:39.000 --> 0:17:41.480
<v Speaker 3>calls it that. We all call it Obamacare, and not

0:17:41.560 --> 0:17:45.640
<v Speaker 3>necessarily in a positive way. Under Joe Biden, his signature

0:17:45.640 --> 0:17:46.840
<v Speaker 3>policy achievement.

0:17:46.520 --> 0:17:48.800
<v Speaker 1>Was what the Inflation Reduction Act.

0:17:48.880 --> 0:17:50.320
<v Speaker 3>Right again, they try to do that, but we call

0:17:50.359 --> 0:17:52.600
<v Speaker 3>it the Green New Deal, the Green New scam.

0:17:52.680 --> 0:17:52.840
<v Speaker 1>Right.

0:17:52.880 --> 0:17:56.280
<v Speaker 3>But Donald Trump just calling it the one big beautiful Bill,

0:17:56.480 --> 0:17:58.080
<v Speaker 3>like everyone calls it that.

0:17:58.320 --> 0:18:00.800
<v Speaker 1>I mean, what is that? What the name of a

0:18:00.920 --> 0:18:02.359
<v Speaker 1>bill is?

0:18:02.560 --> 0:18:02.760
<v Speaker 2>Now?

0:18:03.000 --> 0:18:06.440
<v Speaker 1>I know it doesn't tell you anything about it's just

0:18:06.520 --> 0:18:10.120
<v Speaker 1>a big beautiful bill. I actually looked on the congressional

0:18:10.160 --> 0:18:13.080
<v Speaker 1>record and that is literally the name of the piece

0:18:13.119 --> 0:18:16.600
<v Speaker 1>of legislation. This is not shorthand, that's literally the name

0:18:16.600 --> 0:18:19.200
<v Speaker 1>of the bill. So you go on CNBC, You're going

0:18:19.240 --> 0:18:21.720
<v Speaker 1>on these news outlets. They are talking about the big

0:18:21.760 --> 0:18:22.480
<v Speaker 1>Beautiful Bill.

0:18:22.560 --> 0:18:24.760
<v Speaker 3>So it's sort of just genius that Trump has gotten

0:18:25.480 --> 0:18:28.800
<v Speaker 3>news anchors and everyone to call this thing, which they

0:18:29.160 --> 0:18:32.960
<v Speaker 3>oppose in many respects, the big beautiful bill. It is big,

0:18:33.000 --> 0:18:35.680
<v Speaker 3>and according to depend upon your perspective, it is beautiful.

0:18:35.680 --> 0:18:39.400
<v Speaker 3>It extends the tax cuts, It's got a massive increase

0:18:39.400 --> 0:18:43.240
<v Speaker 3>in funding for ice and for immigration enforcement. That I

0:18:43.240 --> 0:18:45.920
<v Speaker 3>think is the key for many of its supporters. Right,

0:18:45.920 --> 0:18:49.280
<v Speaker 3>They say, the number one domestic priority continues to be

0:18:49.560 --> 0:18:52.800
<v Speaker 3>enforcing immigration laws in this country and deporting people who

0:18:52.800 --> 0:18:56.400
<v Speaker 3>shouldn't be here. This bill gives people funding to do that.

0:18:56.760 --> 0:18:59.399
<v Speaker 3>It also, then, I think, tries to enact some of

0:18:59.400 --> 0:19:04.720
<v Speaker 3>the efforts of DOGE bringing more security and credibility to

0:19:05.040 --> 0:19:07.440
<v Speaker 3>some of these entitlement programs. What some people will tell

0:19:07.480 --> 0:19:11.040
<v Speaker 3>you are cuts to Medicaid and cuts to SNAP are

0:19:11.080 --> 0:19:15.720
<v Speaker 3>in fact just increases in work requirements or more paperwork requirements,

0:19:15.800 --> 0:19:18.159
<v Speaker 3>more validity to make sure that the people that are

0:19:18.160 --> 0:19:21.480
<v Speaker 3>receiving these benefits should be receiving the benefits. One thing

0:19:21.560 --> 0:19:22.960
<v Speaker 3>I very much like you know you and I have

0:19:23.040 --> 0:19:26.480
<v Speaker 3>spent some time talking about the SNAP program, EBT, the

0:19:26.520 --> 0:19:30.399
<v Speaker 3>food stamps and how much fraud is there. A big

0:19:30.440 --> 0:19:33.280
<v Speaker 3>deal now is that states may have to start in

0:19:33.320 --> 0:19:36.920
<v Speaker 3>twenty twenty eight paying a portion of the food benefit costs.

0:19:37.480 --> 0:19:40.240
<v Speaker 3>Previously states have only paid administrative costs. I'll tell you

0:19:40.280 --> 0:19:42.720
<v Speaker 3>why that's a big deal, because right now, this is

0:19:42.800 --> 0:19:45.400
<v Speaker 3>just how much Donald Trump has changed the conversation about

0:19:45.560 --> 0:19:51.080
<v Speaker 3>entitlements and eradicating waste, fraud and abuse in those entitlement programs.

0:19:51.680 --> 0:19:54.640
<v Speaker 3>The current setup, or at least before Donald Trump became president,

0:19:54.920 --> 0:19:58.800
<v Speaker 3>the federal government awarded states who claim to have the

0:19:58.920 --> 0:20:02.760
<v Speaker 3>lowest air rate in the administration of these foodstamp programs.

0:20:03.119 --> 0:20:06.320
<v Speaker 3>So guess what states were then incentivized to do not

0:20:06.480 --> 0:20:09.360
<v Speaker 3>report high error rates and there's been a lot of.

0:20:09.440 --> 0:20:11.840
<v Speaker 1>Which is what fraud is regarded as an error.

0:20:11.680 --> 0:20:14.159
<v Speaker 3>Rate now absolutely so the states with the most fraud

0:20:14.160 --> 0:20:17.560
<v Speaker 3>would pretend it wasn't very much fraudulent, and they got

0:20:17.600 --> 0:20:20.160
<v Speaker 3>paid by the federal government for doing so. We now

0:20:20.200 --> 0:20:23.040
<v Speaker 3>are trying to reward states and say, no, you guys

0:20:23.119 --> 0:20:25.600
<v Speaker 3>have to expose root out the fraud, and you guys

0:20:25.640 --> 0:20:27.080
<v Speaker 3>are going to have to pick up a part of

0:20:27.119 --> 0:20:29.520
<v Speaker 3>the check on this. So you renounce centivized to make

0:20:29.520 --> 0:20:31.280
<v Speaker 3>sure your programs are well run.

0:20:31.359 --> 0:20:33.520
<v Speaker 1>Yeah, I mean, here's the bottom line question on all

0:20:33.560 --> 0:20:38.119
<v Speaker 1>of these programs, whether it's Medicare or Medicaid or Social Security,

0:20:38.400 --> 0:20:40.280
<v Speaker 1>you have to keep them viable, right, You have to

0:20:40.359 --> 0:20:43.520
<v Speaker 1>keep them viable. And the problem with Medicaid is you

0:20:43.680 --> 0:20:47.760
<v Speaker 1>had millions of illegal immigrants that ended up on Medicaid

0:20:47.840 --> 0:20:51.240
<v Speaker 1>program States like California sign them up because they wanted

0:20:51.280 --> 0:20:54.639
<v Speaker 1>to take those federal dollars. What this bill basically says

0:20:54.720 --> 0:20:57.639
<v Speaker 1>is no, if states want to have illegal migrants on

0:20:57.920 --> 0:21:01.840
<v Speaker 1>their medicaid roles, they have to pay for them themselves.

0:21:02.000 --> 0:21:04.400
<v Speaker 1>The second thing that they do with medicaid is say, look,

0:21:04.440 --> 0:21:08.480
<v Speaker 1>if you're able bodied, that's you know, determined by a

0:21:08.600 --> 0:21:11.679
<v Speaker 1>medical doctor. If you are able bodied, you either have

0:21:11.800 --> 0:21:14.960
<v Speaker 1>to work eighty hours a week, eighty hours a month, yeah,

0:21:14.960 --> 0:21:17.880
<v Speaker 1>eighty hours a month, sorry, and that that's two weeks

0:21:17.920 --> 0:21:20.840
<v Speaker 1>out of the month. Or if you can't find a job,

0:21:21.040 --> 0:21:22.960
<v Speaker 1>or you're not looking for a job, maybe you're in

0:21:23.000 --> 0:21:26.320
<v Speaker 1>a situation where you can't have one, you have to

0:21:26.320 --> 0:21:28.919
<v Speaker 1>at least volunteer. The point is you have to do

0:21:29.000 --> 0:21:32.600
<v Speaker 1>something constructive if you're sitting around playing video games, if

0:21:32.600 --> 0:21:35.760
<v Speaker 1>you're sitting around on drugs and expecting people to just

0:21:35.880 --> 0:21:38.720
<v Speaker 1>subsidize you. That's how we got to the point where

0:21:39.200 --> 0:21:43.400
<v Speaker 1>where this program is so expensive and it's not sustainable.

0:21:43.440 --> 0:21:46.840
<v Speaker 1>So these are really common sense remedies that are being pushed,

0:21:47.000 --> 0:21:49.040
<v Speaker 1>and of course what Democrats are saying is no, they're

0:21:49.080 --> 0:21:51.760
<v Speaker 1>cutting everybody's program, which is ridiculous.

0:21:51.800 --> 0:21:54.800
<v Speaker 3>And you know, there's this truism that the federal government

0:21:54.840 --> 0:21:58.760
<v Speaker 3>programs never get smaller, and unfortunately that's continued to be true.

0:21:58.840 --> 0:22:02.479
<v Speaker 3>We saw massive increase in these spending programs during COVID,

0:22:02.840 --> 0:22:07.720
<v Speaker 3>and it took years, even after the pandemic ended, for

0:22:07.800 --> 0:22:09.720
<v Speaker 3>some of these programs to start to come back down.

0:22:09.760 --> 0:22:13.560
<v Speaker 3>And now you're hearing the screams and the worst case scenarios.

0:22:13.680 --> 0:22:15.320
<v Speaker 3>You know, this is always the case with Donald Trump.

0:22:15.400 --> 0:22:18.720
<v Speaker 3>Doesn't matter what he does, we're presented with the worst

0:22:18.720 --> 0:22:20.720
<v Speaker 3>case scenario. And the thing with Donald Trump is those

0:22:20.720 --> 0:22:23.440
<v Speaker 3>worst case scenarios never proved to be true. We didn't

0:22:23.480 --> 0:22:26.359
<v Speaker 3>invade Iran. We're able to just go after them and

0:22:26.400 --> 0:22:29.560
<v Speaker 3>take out the nuclear capacity. We're able to you know,

0:22:29.600 --> 0:22:33.200
<v Speaker 3>we didn't start world a civil war here by enforcing immigration,

0:22:33.280 --> 0:22:36.000
<v Speaker 3>despite the best efforts of Gavin News and Karen Bass, right,

0:22:36.119 --> 0:22:38.360
<v Speaker 3>And so now it's like, oh, well, you're gonna you're

0:22:38.359 --> 0:22:41.439
<v Speaker 3>gonna kill people. You heard Larry Summer suggests that one

0:22:41.480 --> 0:22:44.639
<v Speaker 3>hundred thousand people will die over the next ten years

0:22:44.680 --> 0:22:47.959
<v Speaker 3>because of this bill. By the way, those work requirements

0:22:48.000 --> 0:22:52.479
<v Speaker 3>can be waived if state unemployment goes above ten percent.

0:22:52.920 --> 0:22:54.359
<v Speaker 3>Do you know what state has the high Do you

0:22:54.400 --> 0:22:56.720
<v Speaker 3>know what the highest unemployment rate is of any state?

0:22:56.800 --> 0:22:57.679
<v Speaker 1>Now, California.

0:22:57.840 --> 0:23:01.280
<v Speaker 3>It's California's close, But even the highest unemployment rates right

0:23:01.280 --> 0:23:03.879
<v Speaker 3>now are still in the fives. It's actually Washington, d C.

0:23:04.280 --> 0:23:07.119
<v Speaker 3>Interesting highest. California is like the fifth highest unmployment rate.

0:23:07.200 --> 0:23:09.200
<v Speaker 3>But so the point is, these work requirements are going

0:23:09.240 --> 0:23:12.000
<v Speaker 3>to be implemented because unemployment is not anywhere near where

0:23:12.040 --> 0:23:13.840
<v Speaker 3>you'd be exempted from it. So yeah, if you are

0:23:13.880 --> 0:23:17.280
<v Speaker 3>someone who currently is receiving these benefits, you will have

0:23:17.359 --> 0:23:20.200
<v Speaker 3>to prove that you are attempting to do something to

0:23:20.240 --> 0:23:21.160
<v Speaker 3>contribute to society.

0:23:21.200 --> 0:23:24.679
<v Speaker 1>Yeah, and why is that unreasonable? I don't understand. We

0:23:24.760 --> 0:23:27.160
<v Speaker 1>know why it's being done for political reasons, but it's

0:23:27.280 --> 0:23:30.880
<v Speaker 1>really an eminently responsible reform that ought to be supported

0:23:30.920 --> 0:23:33.080
<v Speaker 1>by the way it used to be supported by Democrats.

0:23:33.160 --> 0:23:35.240
<v Speaker 1>It was after all, Bill Clinton who back in nineteen

0:23:35.320 --> 0:23:39.080
<v Speaker 1>ninety six set up a work requirement to be on

0:23:39.160 --> 0:23:42.359
<v Speaker 1>welfare to receive food stamps. So this used to be

0:23:42.440 --> 0:23:44.120
<v Speaker 1>the position of at least some Democrats.

0:23:44.119 --> 0:23:47.480
<v Speaker 3>And that's just one portion of the overall big beautiful

0:23:47.520 --> 0:23:50.240
<v Speaker 3>bill structure. It's attempting to do three things as we

0:23:50.320 --> 0:23:54.080
<v Speaker 3>understand it, right, They're trying to, okay, lower taxes for

0:23:54.320 --> 0:23:56.560
<v Speaker 3>many individuals and so not, in addition to kind of

0:23:56.920 --> 0:23:59.760
<v Speaker 3>making the tax that's from twenty seventeen, continue them in place.

0:23:59.760 --> 0:24:01.800
<v Speaker 3>They lower to stay tax, they have lower tax on

0:24:01.880 --> 0:24:04.920
<v Speaker 3>a number of other things, including corporations. So they wanted

0:24:04.920 --> 0:24:07.240
<v Speaker 3>to do that. They wanted to cut some spending, which

0:24:07.240 --> 0:24:09.960
<v Speaker 3>they're trying to do with getting rid of the waste,

0:24:09.960 --> 0:24:12.080
<v Speaker 3>the fraud and abuse, which is what they're attempting to

0:24:12.080 --> 0:24:15.280
<v Speaker 3>address in these financial programs here with the entitlements, and

0:24:15.320 --> 0:24:18.439
<v Speaker 3>then with the tariffs, which we're expecting more news on

0:24:18.480 --> 0:24:20.919
<v Speaker 3>that any day. They're a tempting to bring in new revenue.

0:24:20.960 --> 0:24:23.359
<v Speaker 3>So like, those are the three streams they're trying to

0:24:23.359 --> 0:24:25.439
<v Speaker 3>do at one time, which they think will ultimately benefit

0:24:25.480 --> 0:24:25.919
<v Speaker 3>the economy.

0:24:26.040 --> 0:24:28.160
<v Speaker 1>Yeah, and it's all going to come down to revenue

0:24:28.200 --> 0:24:30.919
<v Speaker 1>and growth, right because all these estimates are ported by

0:24:30.920 --> 0:24:34.439
<v Speaker 1>the Congressional Budget Office, they assume a low level of growth. Oh,

0:24:34.480 --> 0:24:37.560
<v Speaker 1>this is going to explode the debt. The fact of

0:24:37.560 --> 0:24:39.919
<v Speaker 1>the matter is if you have a high growth, it

0:24:39.920 --> 0:24:42.800
<v Speaker 1>brings in large amounts of revenue. That's really going to

0:24:42.880 --> 0:24:45.919
<v Speaker 1>help on the debt and on the deficit. And here's

0:24:45.920 --> 0:24:49.119
<v Speaker 1>the interesting political jiu jitsu that's going on here. So

0:24:49.160 --> 0:24:51.720
<v Speaker 1>you have, on the one hand, Donald Trump's big, beautiful

0:24:51.720 --> 0:24:54.040
<v Speaker 1>bill comes and barely passes, but it does and he

0:24:54.160 --> 0:24:56.280
<v Speaker 1>signs it. It's got all these good things in it.

0:24:57.280 --> 0:25:00.000
<v Speaker 1>You have Democrats who say, oh, the cuts are horrific,

0:25:00.119 --> 0:25:02.440
<v Speaker 1>it's going to kill all these people, and these tax

0:25:02.480 --> 0:25:05.400
<v Speaker 1>cuts are responsible. And then you have Elon Musk and

0:25:05.520 --> 0:25:08.479
<v Speaker 1>some members of the House of Representatives and in the

0:25:08.520 --> 0:25:11.719
<v Speaker 1>Senate who said the cuts don't go far enough. In

0:25:11.760 --> 0:25:15.000
<v Speaker 1>other words, Trump didn't go far enough in this direction.

0:25:15.080 --> 0:25:19.000
<v Speaker 1>So you have these three sort of points of politics.

0:25:19.280 --> 0:25:22.560
<v Speaker 1>And Elon Musk has said he apparently took a survey

0:25:23.040 --> 0:25:26.000
<v Speaker 1>of his followers on Twitter x and they came out

0:25:26.040 --> 0:25:28.280
<v Speaker 1>i think two to one saying they would support the

0:25:28.280 --> 0:25:31.840
<v Speaker 1>formation of a third political party. And this is all

0:25:31.920 --> 0:25:35.480
<v Speaker 1>based Musk says on the fact that the cuts did

0:25:35.520 --> 0:25:41.080
<v Speaker 1>not go far enough. He argues that joj was disrespected,

0:25:41.600 --> 0:25:43.960
<v Speaker 1>that all the efforts they took in doage to slash

0:25:44.040 --> 0:25:46.920
<v Speaker 1>all of this waste and abuse has now been gutted

0:25:46.960 --> 0:25:47.720
<v Speaker 1>by this bill.

0:25:47.960 --> 0:25:51.000
<v Speaker 3>Yeah, I think it's interesting to see people who would

0:25:51.280 --> 0:25:54.840
<v Speaker 3>support the idea of a third party. Yet, like in concept,

0:25:54.880 --> 0:25:57.200
<v Speaker 3>I could see you being into it. But how many

0:25:57.200 --> 0:25:59.440
<v Speaker 3>of the people who support Elon Musks creation of a

0:25:59.480 --> 0:26:03.400
<v Speaker 3>third party would support that party being even more aggressive

0:26:03.400 --> 0:26:06.640
<v Speaker 3>in terms of cutting government programs and entitlements. I suspect

0:26:06.720 --> 0:26:09.840
<v Speaker 3>not very many of your pro cutting government spending. You're

0:26:09.920 --> 0:26:13.400
<v Speaker 3>probably much more conservative, And I wonder I don't see

0:26:13.400 --> 0:26:16.600
<v Speaker 3>a space in which a third political party is more conservative,

0:26:16.600 --> 0:26:21.000
<v Speaker 3>although obviously Republicans haven't been great in terms of fiscal management.

0:26:21.880 --> 0:26:25.600
<v Speaker 3>But you know, you get so much criticism, so much pushback,

0:26:25.960 --> 0:26:28.040
<v Speaker 3>and it doesn't make sense. It's actually hypocritical, or at

0:26:28.119 --> 0:26:30.720
<v Speaker 3>least it's contradictory because on the one hand, people say

0:26:30.720 --> 0:26:33.880
<v Speaker 3>that this bill explodes the deficit, while at the same

0:26:33.920 --> 0:26:36.400
<v Speaker 3>time people say the bill cuts medicaid for people who

0:26:36.400 --> 0:26:38.560
<v Speaker 3>rely on it. You kind of can't say both.

0:26:38.440 --> 0:26:40.600
<v Speaker 1>Right, right, And I would say to Elon Musk, there

0:26:40.640 --> 0:26:43.560
<v Speaker 1>already is a third political party. It's called the Libertarian Party.

0:26:43.840 --> 0:26:47.640
<v Speaker 1>They want to slash government extensively. But here's the thing.

0:26:47.680 --> 0:26:50.560
<v Speaker 1>I mean, Elon Musk says it's over principle if it's overcuts.

0:26:50.720 --> 0:26:54.840
<v Speaker 1>But let's keep in mind the bill, the Big Beautiful Bill,

0:26:55.160 --> 0:26:56.879
<v Speaker 1>did a couple of things that are not great for

0:26:56.920 --> 0:27:00.760
<v Speaker 1>Elon Musk's businesses and not great for his bottom line. So,

0:27:00.880 --> 0:27:02.359
<v Speaker 1>for example, one of the things in the bill is

0:27:02.400 --> 0:27:05.760
<v Speaker 1>after September thirty, if it's ending the seventy five hundred

0:27:05.800 --> 0:27:10.080
<v Speaker 1>dollars tax credit for evs for electric vehicles. Tesla produces

0:27:10.200 --> 0:27:13.960
<v Speaker 1>large amounts of electric vehicles. The bill immediately scraps the

0:27:14.080 --> 0:27:19.360
<v Speaker 1>highly profitable zero emission credits. Other automakers would buy these

0:27:19.480 --> 0:27:23.920
<v Speaker 1>credits from Tesla so they could meet the admission requirement, sorry,

0:27:23.960 --> 0:27:26.680
<v Speaker 1>the emission requirements from the federal government. In the first

0:27:26.760 --> 0:27:29.520
<v Speaker 1>quarter of this year. Tesla would have actually lost money

0:27:29.840 --> 0:27:32.920
<v Speaker 1>except for the fact that they were able to get these,

0:27:33.720 --> 0:27:36.880
<v Speaker 1>you know, monetize these credits. And then finally the issue

0:27:36.880 --> 0:27:40.280
<v Speaker 1>of tarifts. Tariffs are going to dramatically increase the cost

0:27:40.320 --> 0:27:45.480
<v Speaker 1>for the Chinese batteries that Tesla actually uses. So maybe

0:27:45.520 --> 0:27:47.800
<v Speaker 1>it's partly principle, but there's no question in my mind

0:27:47.840 --> 0:27:50.280
<v Speaker 1>that he cannot be happy with some of the details

0:27:50.280 --> 0:27:52.520
<v Speaker 1>of this bill and how it's going to affect his

0:27:52.560 --> 0:27:53.200
<v Speaker 1>bottom line.

0:27:53.240 --> 0:27:56.399
<v Speaker 3>So you're keeping score at home. Elon Musk is against

0:27:56.440 --> 0:27:59.320
<v Speaker 3>the passage of the Big Beautiful Bill. The Big Beautiful

0:27:59.359 --> 0:28:01.960
<v Speaker 3>Bill passes. You just mentioned three things in that bill,

0:28:02.000 --> 0:28:04.640
<v Speaker 3>it will be very bad for Elon Musk. The bill passes,

0:28:04.680 --> 0:28:06.639
<v Speaker 3>he says, he's going to start his own political party.

0:28:06.640 --> 0:28:07.439
<v Speaker 3>That's essentially it.

0:28:07.680 --> 0:28:11.320
<v Speaker 1>Yeah, and he's got Mark Cuban and Anthony Scarmucci are

0:28:11.320 --> 0:28:14.440
<v Speaker 1>two of the people who've said they're interested in joining

0:28:14.520 --> 0:28:17.240
<v Speaker 1>this political party. It's interesting, by the way, he announced

0:28:17.320 --> 0:28:20.800
<v Speaker 1>this new political party and then people put up documents

0:28:20.840 --> 0:28:23.320
<v Speaker 1>from the Federal Election Commission saying that the party had

0:28:23.320 --> 0:28:26.720
<v Speaker 1>been formed. They were fake. Elon Musk said, no papers

0:28:26.720 --> 0:28:29.760
<v Speaker 1>have been filed, so sounds maybe like a little bit

0:28:29.760 --> 0:28:32.359
<v Speaker 1>of a paper tiger. The other thing that's happened is

0:28:32.400 --> 0:28:35.560
<v Speaker 1>Tesla stock is down eight percent with the announcement of

0:28:35.600 --> 0:28:38.120
<v Speaker 1>this new political party. So maybe the people that have

0:28:38.240 --> 0:28:40.480
<v Speaker 1>invested in his business are a little tired of the

0:28:40.520 --> 0:28:43.680
<v Speaker 1>politics for Melon, and they're probably saying, get back to

0:28:43.760 --> 0:28:46.040
<v Speaker 1>work and build those great businesses that you built in

0:28:46.080 --> 0:28:49.360
<v Speaker 1>the past instead of trying to change the party system

0:28:49.360 --> 0:28:50.240
<v Speaker 1>in the United States.

0:28:50.280 --> 0:28:54.000
<v Speaker 3>It's you know, just like Donald Trump, it's probably impossible

0:28:54.040 --> 0:28:56.160
<v Speaker 3>and not fair to try to put Elon Musk into

0:28:56.240 --> 0:28:58.360
<v Speaker 3>a box. You know, not everybody fits as neatly into

0:28:58.400 --> 0:29:00.880
<v Speaker 3>a box as something like oh, I don't know, mister mom.

0:29:00.880 --> 0:29:02.840
<v Speaker 3>Donnie's race. As we found out over the weekend with

0:29:02.880 --> 0:29:05.080
<v Speaker 3>the new York Times coverage is the African American. We're

0:29:05.080 --> 0:29:07.480
<v Speaker 3>gonna talk about the New York mayor race, this push

0:29:07.520 --> 0:29:10.360
<v Speaker 3>to make Democrats more socialists, what it means for the

0:29:10.360 --> 0:29:12.200
<v Speaker 3>future of Democratic Party. We've got a lot more to

0:29:12.200 --> 0:29:14.720
<v Speaker 3>get into in the Shawan Handy program. He's Peter Schweizer.

0:29:14.760 --> 0:29:17.520
<v Speaker 3>I'm Eric Eggers. We host a podcast called The Drill Down,

0:29:17.640 --> 0:29:19.360
<v Speaker 3>which you can find at the drill down dot com.

0:29:19.480 --> 0:29:25.640
<v Speaker 3>We've backed with more Sean Handy. Right after this. Eric

0:29:25.680 --> 0:29:27.920
<v Speaker 3>Eggers and Peter Schweitzer are filling in for Shawan Handy.

0:29:28.000 --> 0:29:30.040
<v Speaker 3>We'd love to have you join our conversation. It's one

0:29:30.040 --> 0:29:33.080
<v Speaker 3>eight hundred and nine for one, seven three six nine

0:29:33.160 --> 0:29:36.280
<v Speaker 3>for one Shawn. We're gonna talk about the pending disaster

0:29:36.840 --> 0:29:39.120
<v Speaker 3>about to impact New York City. That is the Zoron

0:29:39.200 --> 0:29:42.200
<v Speaker 3>Mom Donnie mayoral campaign and on the other side of

0:29:42.280 --> 0:29:45.280
<v Speaker 3>this break. But first, we've got some interesting news about

0:29:45.320 --> 0:29:47.400
<v Speaker 3>one of the people connected to one of the people,

0:29:47.560 --> 0:29:51.880
<v Speaker 3>Zoron Mam Donnie beat former aide to former Governor Andrew Cuomo.

0:29:51.920 --> 0:29:53.800
<v Speaker 3>Peter Schweizer is a Chinese agent.

0:29:54.080 --> 0:29:56.200
<v Speaker 1>Yeah, well, this is Linda Son. She's charged by the

0:29:56.200 --> 0:29:58.800
<v Speaker 1>Department of Justice for acting as an unregistered agent for

0:29:58.840 --> 0:30:01.640
<v Speaker 1>the Chinese government. That was a case filed a couple

0:30:01.640 --> 0:30:05.240
<v Speaker 1>of months ago. They are now accusing her just recently,

0:30:05.280 --> 0:30:09.120
<v Speaker 1>alleging that she directed New York government contracts worth approximately

0:30:09.240 --> 0:30:13.280
<v Speaker 1>thirty five million dollars to Chinese companies controlled by her

0:30:13.360 --> 0:30:17.120
<v Speaker 1>husband and second cousin in exchange for large kickbacks. The

0:30:17.240 --> 0:30:19.080
<v Speaker 1>question was she worked for the State of New York.

0:30:19.120 --> 0:30:22.000
<v Speaker 1>Her husband was an unsuccessful businessman, but they had a

0:30:22.080 --> 0:30:25.000
<v Speaker 1>four million dollar house on Long Island, a two million

0:30:25.040 --> 0:30:28.520
<v Speaker 1>dollar condo in Hawaii, and a ferrari and they couldn't

0:30:28.520 --> 0:30:31.280
<v Speaker 1>figure out how they made it. This is the explanation. Son,

0:30:31.360 --> 0:30:34.240
<v Speaker 1>through an attorney, is denying the charge. But this happened

0:30:34.400 --> 0:30:37.840
<v Speaker 1>during COVID, remember when there was a scramble for PPE supplies.

0:30:38.160 --> 0:30:41.600
<v Speaker 1>Linda's son now has been charged with taking kickbacks in

0:30:41.600 --> 0:30:44.000
<v Speaker 1>addition to acting as an agent for the Chinese government.

0:30:44.040 --> 0:30:47.080
<v Speaker 3>Linda Sun, by the way, was the chief Diversity officer

0:30:47.160 --> 0:30:50.440
<v Speaker 3>for Governor Quovo's office. And what I like is that

0:30:50.480 --> 0:30:53.240
<v Speaker 3>when the New York Office was trying to get PPE

0:30:53.360 --> 0:30:57.120
<v Speaker 3>equipment from China, they decided to reach out via Linda Sun.

0:30:57.200 --> 0:30:59.520
<v Speaker 1>Yeah, we're going to pick the Chinese aide. She's the

0:30:59.520 --> 0:31:01.840
<v Speaker 1>one to do it. Uh So, in the next hour

0:31:02.200 --> 0:31:05.440
<v Speaker 1>we are going to talk about the political tsunami about

0:31:05.440 --> 0:31:08.240
<v Speaker 1>to hit New York. Join the Conversation one eight hundred

0:31:08.320 --> 0:31:10.040
<v Speaker 1>nine four one seven, three, two six