1 00:00:02,920 --> 00:00:10,559 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the 2 00:00:10,640 --> 00:00:14,560 Speaker 1: Bloomberg Balance of Power podcast. Catch Just Live weekdays at 3 00:00:14,600 --> 00:00:17,759 Speaker 1: noon Eastern on Applecarplay and then Roudoo with the Bloomberg 4 00:00:17,800 --> 00:00:21,200 Speaker 1: Business app. Listen on demand wherever you get your podcasts, 5 00:00:21,400 --> 00:00:25,320 Speaker 1: or watch us live on YouTube. 6 00:00:25,720 --> 00:00:28,920 Speaker 2: Welcome to the Thursday edition of Balance of Power. Yeah, 7 00:00:28,960 --> 00:00:31,840 Speaker 2: you made it to Little Friday. And it's a big 8 00:00:31,960 --> 00:00:34,480 Speaker 2: day around here in Washington. Anytime there's a state dinner, 9 00:00:34,520 --> 00:00:39,280 Speaker 2: there's just something in the air, sense of celebration. I 10 00:00:39,280 --> 00:00:41,120 Speaker 2: guess at the White House, and if you're inside the 11 00:00:41,120 --> 00:00:43,600 Speaker 2: grounds of the White House, this is a spectacular moment 12 00:00:43,640 --> 00:00:47,440 Speaker 2: because they bring all the tables outside of the extended kitchen. 13 00:00:47,800 --> 00:00:50,960 Speaker 2: You got people, temporary workers setting up stages. They're putting 14 00:00:51,040 --> 00:00:53,479 Speaker 2: up the tenting on the south lawn. This is a 15 00:00:53,479 --> 00:00:55,760 Speaker 2: big deal. Doesn't happen that often, and it doesn't happen 16 00:00:55,800 --> 00:00:58,320 Speaker 2: for everyone. Take a look at all the world leaders 17 00:00:58,320 --> 00:01:00,160 Speaker 2: who have come here since Joe Biden was in the 18 00:01:00,200 --> 00:01:02,120 Speaker 2: White House, and how many did not get this treatment. 19 00:01:02,160 --> 00:01:07,920 Speaker 2: But the President of Kenya is an exception, with the 20 00:01:07,959 --> 00:01:12,319 Speaker 2: world watching and namely China watching as its Belton Road 21 00:01:12,360 --> 00:01:17,720 Speaker 2: initiative across Africa runs into a wall, and African nations 22 00:01:17,760 --> 00:01:19,560 Speaker 2: like Kenya are coming to the US to have a 23 00:01:19,560 --> 00:01:22,959 Speaker 2: conversation about how to rationalize their debt and how to 24 00:01:23,040 --> 00:01:28,080 Speaker 2: draw Western investment into the country. So this is important. 25 00:01:28,240 --> 00:01:31,640 Speaker 2: The President of Kenya, William Rudo, we talked about this yesterday, 26 00:01:31,680 --> 00:01:34,160 Speaker 2: arrived at the White House a little while ago, inside 27 00:01:34,200 --> 00:01:36,440 Speaker 2: a bilateral meeting with the President of the United States. 28 00:01:36,520 --> 00:01:40,760 Speaker 2: Right now and at twelve thirty supposedly according to the schedule, 29 00:01:40,959 --> 00:01:42,679 Speaker 2: that's half an hour from now, there will be a 30 00:01:42,720 --> 00:01:45,119 Speaker 2: joint news conference. We will bring that to you live 31 00:01:45,560 --> 00:01:49,280 Speaker 2: with American reporters and foreign press there having a conversation 32 00:01:49,360 --> 00:01:51,680 Speaker 2: with these two leaders, and of course that conversation can 33 00:01:51,720 --> 00:01:54,000 Speaker 2: go in a lot of different directions. The fact is, 34 00:01:54,080 --> 00:01:58,560 Speaker 2: though this marks sixty years of diplomatic relations between our 35 00:01:58,600 --> 00:02:02,360 Speaker 2: two countries, the White House tries to leverage the private 36 00:02:02,480 --> 00:02:05,200 Speaker 2: sector to deepen ties. And that's why I want to 37 00:02:05,200 --> 00:02:07,920 Speaker 2: bring in Tyler Kendall Bloomberg's Tyler Kendall at the White 38 00:02:07,960 --> 00:02:10,720 Speaker 2: House on the North Lawn right now with the story 39 00:02:10,919 --> 00:02:13,480 Speaker 2: of what's happening inside that building behind her. 40 00:02:13,480 --> 00:02:17,520 Speaker 3: Hey Kendall, Yeah, Hey, Joe Hey, Joe, it was interesting 41 00:02:17,520 --> 00:02:19,880 Speaker 3: to see that President Biden decides to kick off this 42 00:02:19,960 --> 00:02:23,640 Speaker 3: state visit by inviting executives from both US and Kenyan 43 00:02:23,639 --> 00:02:26,560 Speaker 3: based companies to the White House. That included the CFO 44 00:02:26,600 --> 00:02:30,000 Speaker 3: of Google's parent company, Alphabet. It's part of this broader 45 00:02:30,040 --> 00:02:33,320 Speaker 3: push for more strategic investment in the country, and I 46 00:02:33,360 --> 00:02:35,400 Speaker 3: want you to take a lesson to President Biden from 47 00:02:35,440 --> 00:02:39,520 Speaker 3: earlier talking about this renewed relationship between Silicon Valley and 48 00:02:39,560 --> 00:02:41,680 Speaker 3: what's being called the Silicon Savannah. 49 00:02:41,760 --> 00:02:42,359 Speaker 4: Take a lesson. 50 00:02:43,160 --> 00:02:46,400 Speaker 5: We're launching a new era of technology to technological cooperation 51 00:02:46,520 --> 00:02:51,320 Speaker 5: between Kenya and America, including new exchanges and investments in 52 00:02:51,440 --> 00:02:56,480 Speaker 5: key fields of cybersecurity, artificial intelligence, and semiconductors. 53 00:02:58,400 --> 00:03:01,440 Speaker 3: It's a welcome sentiment for the Kenyan President, William Rutu, 54 00:03:01,520 --> 00:03:04,040 Speaker 3: and appears to already be paying off. Today Kenya announced 55 00:03:04,040 --> 00:03:07,760 Speaker 3: a three point six billion dollar infrastructure investment. This will 56 00:03:07,760 --> 00:03:10,760 Speaker 3: build highways across the country and it's backed by a 57 00:03:10,880 --> 00:03:15,160 Speaker 3: Virginia based fund known as ever Strong Capital. Joe, as 58 00:03:15,200 --> 00:03:18,239 Speaker 3: you alluded to, this is part of broader competition on 59 00:03:18,360 --> 00:03:22,440 Speaker 3: the continent for investment between US and China. Interestingly enough, 60 00:03:22,480 --> 00:03:24,520 Speaker 3: we dug into the data and looked at an analysis 61 00:03:24,880 --> 00:03:27,840 Speaker 3: done by JOHNS. Hopkins looking at government data which found 62 00:03:28,160 --> 00:03:30,960 Speaker 3: that China is far out pacing the US when it 63 00:03:30,960 --> 00:03:33,800 Speaker 3: comes to foreign direct investment in China, and that started 64 00:03:33,800 --> 00:03:36,080 Speaker 3: in twenty thirteen, which happens to be the same year 65 00:03:36,120 --> 00:03:38,839 Speaker 3: that China launched its Felt and Roaded initiative. But Joe, 66 00:03:38,840 --> 00:03:40,680 Speaker 3: when we look just at Kenya, which is why we 67 00:03:40,760 --> 00:03:44,640 Speaker 3: are here today, Kenya, when it comes to foreign direct 68 00:03:44,640 --> 00:03:47,840 Speaker 3: investment by the US into Kenya, it's actually declining. The 69 00:03:47,840 --> 00:03:50,120 Speaker 3: most recent data is from twenty twenty two from the 70 00:03:50,240 --> 00:03:52,960 Speaker 3: USTR's office, and it shows levels we're at two hundred 71 00:03:53,000 --> 00:03:56,520 Speaker 3: and seventy seven million dollars. Joe, that's a ten percent 72 00:03:56,600 --> 00:03:58,080 Speaker 3: decrease from the year prior. 73 00:03:59,120 --> 00:04:02,200 Speaker 2: Well, that's fascinating. Great homework for a little perspective here 74 00:04:02,240 --> 00:04:08,680 Speaker 2: before we hear these two gentlemen at their respective podium here, Tyler, 75 00:04:08,760 --> 00:04:12,600 Speaker 2: this is a conversation with the private sector that took 76 00:04:12,600 --> 00:04:17,320 Speaker 2: place yesterday. There were executives from Alphabet, from capital investment firms. 77 00:04:17,360 --> 00:04:20,880 Speaker 2: You just mentioned a deal with a Northern Virginia company 78 00:04:20,880 --> 00:04:23,359 Speaker 2: here that's coming to bear. It's kind of interesting to 79 00:04:23,360 --> 00:04:25,200 Speaker 2: see the form that this is taking and tonight it's 80 00:04:25,240 --> 00:04:28,120 Speaker 2: about soft power, right. They're all going to get into 81 00:04:28,160 --> 00:04:30,920 Speaker 2: this tent for a big dinner, a big celebration. We've 82 00:04:30,920 --> 00:04:32,240 Speaker 2: had a look at the menu. It looks like a 83 00:04:32,279 --> 00:04:33,200 Speaker 2: pretty posh night. 84 00:04:34,440 --> 00:04:37,000 Speaker 3: Right exactly. But before all of that could happen, we 85 00:04:37,120 --> 00:04:39,680 Speaker 3: know that the Kenyan President willing Rot two was really 86 00:04:39,720 --> 00:04:43,000 Speaker 3: looking for some of these more concrete proposals coming out 87 00:04:43,000 --> 00:04:45,240 Speaker 3: of this. He went traveled to Capitol Hill yesterday to 88 00:04:45,320 --> 00:04:48,520 Speaker 3: meet with how Speaker Mike Johnson, where he made clear 89 00:04:48,720 --> 00:04:51,560 Speaker 3: that the economic proposals and also trade and also this 90 00:04:51,880 --> 00:04:53,520 Speaker 3: idea of debt, which I know that you're going to 91 00:04:53,520 --> 00:04:56,120 Speaker 3: get into later in the show today, would be addressed 92 00:04:56,360 --> 00:04:58,000 Speaker 3: during these meetings. 93 00:04:58,800 --> 00:05:01,240 Speaker 2: That's great, Tyler, Kendall on the North Lawn and come 94 00:05:01,279 --> 00:05:03,919 Speaker 2: back to us as we get closer to the news conference, Tyler, 95 00:05:03,960 --> 00:05:05,920 Speaker 2: with a lot to talk about here today in Washington, 96 00:05:06,000 --> 00:05:08,520 Speaker 2: d C. We'll be hearing, as I mentioned, from the presidents, 97 00:05:08,560 --> 00:05:11,320 Speaker 2: both of them, in a joint news conference from the 98 00:05:11,320 --> 00:05:13,039 Speaker 2: White House a short time from now. We'll bring that 99 00:05:13,080 --> 00:05:14,840 Speaker 2: to you live when it happens. Let's add the voice 100 00:05:14,839 --> 00:05:18,800 Speaker 2: of Bloomberg White House correspondent Jordan Fabian with US as 101 00:05:19,400 --> 00:05:21,960 Speaker 2: we look ahead to this news conference here on balance 102 00:05:21,960 --> 00:05:24,280 Speaker 2: of power Jordan. It's great to have you. They're going 103 00:05:24,320 --> 00:05:26,640 Speaker 2: to be American reporters there who have things other than 104 00:05:26,640 --> 00:05:29,400 Speaker 2: Africa and foreign investment on their mind. What's going to 105 00:05:29,400 --> 00:05:32,000 Speaker 2: be the pressing issue to get to Joe Biden today? 106 00:05:34,920 --> 00:05:39,080 Speaker 6: As important as Joe Biden have views this visit today, 107 00:05:39,839 --> 00:05:44,240 Speaker 6: the issue that's been dominating his presidency is the Israel 108 00:05:44,240 --> 00:05:46,520 Speaker 6: Hamas war, and I would expect this is going to 109 00:05:46,600 --> 00:05:49,440 Speaker 6: come up at the joint news conference later. There are 110 00:05:49,440 --> 00:05:53,400 Speaker 6: a number of other topics that are on his plate, 111 00:05:53,480 --> 00:05:58,040 Speaker 6: from immigration to Donald Trump, the ongoing trials in the election, 112 00:05:58,920 --> 00:06:01,400 Speaker 6: that he could be asked about at that news conference 113 00:06:01,440 --> 00:06:04,360 Speaker 6: of twelve thirty, So a lot of topics. 114 00:06:03,960 --> 00:06:04,560 Speaker 7: Can be covered. 115 00:06:05,800 --> 00:06:08,640 Speaker 2: I have no doubt the significance of this meeting is 116 00:06:08,680 --> 00:06:11,880 Speaker 2: really something to me because not every world leader, as 117 00:06:11,920 --> 00:06:14,440 Speaker 2: you can express to us here and explain to us Jordan, 118 00:06:14,600 --> 00:06:17,240 Speaker 2: gets this kind of treatment. Why is the president of 119 00:06:17,320 --> 00:06:20,560 Speaker 2: Kenya being propped up on this level today on the 120 00:06:20,560 --> 00:06:21,480 Speaker 2: international stage. 121 00:06:23,360 --> 00:06:25,120 Speaker 6: Yeah, it's a good point show. This is the first 122 00:06:25,720 --> 00:06:29,880 Speaker 6: state visit for an African leader in sixteen years to 123 00:06:29,920 --> 00:06:33,320 Speaker 6: the White House, and it really goes to show how 124 00:06:33,440 --> 00:06:37,159 Speaker 6: this great power competition between the US and China is 125 00:06:37,200 --> 00:06:40,640 Speaker 6: heating up. This is almost becoming a Cold War light 126 00:06:40,680 --> 00:06:45,320 Speaker 6: where they're vying for power and influence all over the globe. 127 00:06:45,680 --> 00:06:49,760 Speaker 6: And look, the US has been concerned about China's inroads 128 00:06:49,800 --> 00:06:54,040 Speaker 6: in Africa, not only to get critical minerals, natural resources, 129 00:06:54,080 --> 00:06:57,719 Speaker 6: but also these infrastructure investments of the US, says is 130 00:06:57,760 --> 00:07:01,720 Speaker 6: saddling these countries with debt. But the African countries have said, look, 131 00:07:01,800 --> 00:07:04,040 Speaker 6: you the US as neglect of the region for a 132 00:07:04,120 --> 00:07:07,880 Speaker 6: long time. What's the alternative. This is Joe Biden's attempt 133 00:07:07,880 --> 00:07:12,800 Speaker 6: at that alternative, trying to inject US for an investment 134 00:07:12,840 --> 00:07:16,960 Speaker 6: there on semiconductors, on infrastructure, as Tyler just mentioned, to 135 00:07:17,080 --> 00:07:20,080 Speaker 6: try and edge China out of that space. And it's 136 00:07:20,080 --> 00:07:21,840 Speaker 6: gonna Yeah, they have a lot of work to do, 137 00:07:21,920 --> 00:07:24,720 Speaker 6: so we'll see if it succeeds. But this is a 138 00:07:24,760 --> 00:07:26,720 Speaker 6: big swing in that direction. 139 00:07:27,960 --> 00:07:29,760 Speaker 2: It sure is. I know, this is probably not the 140 00:07:29,800 --> 00:07:33,320 Speaker 2: type of thing that resonates at home Jordan when you 141 00:07:33,360 --> 00:07:36,840 Speaker 2: consider the candidate Joe Biden as opposed to the President 142 00:07:36,840 --> 00:07:39,520 Speaker 2: of the United States doing his job in this case, 143 00:07:40,400 --> 00:07:42,120 Speaker 2: or maybe there's a broader way to look at it. 144 00:07:42,120 --> 00:07:45,080 Speaker 2: We hear a lot about the Rose Gardens strategy. These 145 00:07:45,120 --> 00:07:48,720 Speaker 2: moments help Joe Biden no matter what, correct being caught 146 00:07:48,720 --> 00:07:50,840 Speaker 2: in the act of doing the job. 147 00:07:52,720 --> 00:07:55,480 Speaker 6: Exactly. It's the power of a compancy. It's a very 148 00:07:55,480 --> 00:07:59,360 Speaker 6: powerful force in American politics. Donald Trump is the only 149 00:08:00,120 --> 00:08:03,960 Speaker 6: incumbent since nineteen ninety two to lose reelection. So this 150 00:08:04,040 --> 00:08:06,720 Speaker 6: is something that Cumbans do. They buy around the country 151 00:08:06,760 --> 00:08:09,480 Speaker 6: and air force one. They hold state dinners and news 152 00:08:09,480 --> 00:08:12,960 Speaker 6: conferences in the Rose Garden to project that power. And 153 00:08:13,040 --> 00:08:15,840 Speaker 6: so this is an example of that today. And it 154 00:08:15,920 --> 00:08:19,200 Speaker 6: also again gives President Buying a chance to hit on 155 00:08:19,200 --> 00:08:22,040 Speaker 6: some of these key issues we talked about China. Also, 156 00:08:22,400 --> 00:08:25,160 Speaker 6: you know Joe Biden's bleeding support from black voters. He 157 00:08:25,240 --> 00:08:27,080 Speaker 6: can now go out there and say, hey, I have 158 00:08:27,200 --> 00:08:30,960 Speaker 6: invited you this African leader here, I'm showing the importance 159 00:08:31,200 --> 00:08:33,680 Speaker 6: of this relationship. Oh and by the way, you know 160 00:08:33,720 --> 00:08:37,760 Speaker 6: a lot of black American celebrities, business leaders, etc. Are 161 00:08:37,800 --> 00:08:39,880 Speaker 6: expected to be at that state dinner tonight, So even 162 00:08:39,920 --> 00:08:41,200 Speaker 6: more soft power on his plot. 163 00:08:41,480 --> 00:08:44,600 Speaker 2: That's look at that, that's absolutely I'm so glad you 164 00:08:44,640 --> 00:08:46,720 Speaker 2: said that. Think of the optics that will be shared 165 00:08:47,320 --> 00:08:49,800 Speaker 2: with the country and with the world tomorrow. None of 166 00:08:49,800 --> 00:08:52,720 Speaker 2: this stuff happens by accident, Jordan, Are we taking DIBs 167 00:08:52,720 --> 00:08:54,840 Speaker 2: on when this starts as schedule for twelve thirty? There's 168 00:08:54,840 --> 00:08:57,439 Speaker 2: no way that happens coming directly out of bilateral meeting 169 00:08:57,640 --> 00:08:58,959 Speaker 2: in the Oval Office, right. 170 00:09:00,200 --> 00:09:02,280 Speaker 6: If it's a day that ends, and why we're running 171 00:09:02,280 --> 00:09:04,160 Speaker 6: on Biden time, so I would imagine it's going. 172 00:09:04,080 --> 00:09:07,360 Speaker 2: To be late. This is a man who lives and 173 00:09:07,440 --> 00:09:10,560 Speaker 2: dies by the Biden clock. Thank you, Jordan, great to 174 00:09:10,559 --> 00:09:12,720 Speaker 2: see it. Always a pleasure, Jordan Fabian one of the 175 00:09:12,720 --> 00:09:15,360 Speaker 2: best here at Bloomberg and covering the White House for us. 176 00:09:15,800 --> 00:09:17,640 Speaker 2: We'll bring that to you when it happens. Hey, look, 177 00:09:17,640 --> 00:09:20,960 Speaker 2: maybe they show up early. Dare to dream you'll hear 178 00:09:21,000 --> 00:09:23,120 Speaker 2: about it live and you can see it live too. 179 00:09:23,280 --> 00:09:25,400 Speaker 2: To that end, I invite you to join us on YouTube. 180 00:09:25,640 --> 00:09:27,880 Speaker 2: Go to YouTube and search Bloomberg Global News. You'll find 181 00:09:27,880 --> 00:09:30,240 Speaker 2: our live stream right there. We always save a seat 182 00:09:30,280 --> 00:09:33,040 Speaker 2: for you in the studio if it is a day ending, 183 00:09:33,040 --> 00:09:36,160 Speaker 2: and why as we turn our attention to something that 184 00:09:36,240 --> 00:09:39,440 Speaker 2: actually got done this week on Capitol Hill, enough complaining 185 00:09:40,400 --> 00:09:45,200 Speaker 2: about messaging bills for at least a moment here because 186 00:09:45,240 --> 00:09:49,480 Speaker 2: the Crypto Market Structure Bill passed. This is the one 187 00:09:49,480 --> 00:09:53,320 Speaker 2: we talked about quite a bit with lawmakers, including Wiley Nickel, 188 00:09:53,960 --> 00:09:57,800 Speaker 2: the FIT bill, as they call it, FIT twenty one 189 00:09:57,880 --> 00:10:02,000 Speaker 2: market structure. Who handles what coin and in which way? 190 00:10:02,480 --> 00:10:04,679 Speaker 2: The question is where does it go from here? And 191 00:10:04,720 --> 00:10:06,800 Speaker 2: I'm glad to say he's come back to talk to us, 192 00:10:07,400 --> 00:10:08,839 Speaker 2: and what I bet feels like a bit of a 193 00:10:08,920 --> 00:10:12,520 Speaker 2: victory lab for Wiley Nickel, the gentleman from North Carolina's 194 00:10:12,559 --> 00:10:16,760 Speaker 2: thirteenth districts. Of course, Democrat, a pro crypto democrat. It's 195 00:10:16,760 --> 00:10:18,960 Speaker 2: good to see you, sir, welcome back. Is this going 196 00:10:19,000 --> 00:10:20,920 Speaker 2: to see the light of day? Could it pass the Senate? 197 00:10:22,280 --> 00:10:24,320 Speaker 8: Hey, it's great to be This is a big deal. 198 00:10:24,400 --> 00:10:27,920 Speaker 8: This is what Washington looks like when we're getting things done, 199 00:10:27,920 --> 00:10:30,000 Speaker 8: when we're working across the aisle. It's a victory for 200 00:10:30,080 --> 00:10:34,520 Speaker 8: bipartisan governance. And for the first time in our nation's history, 201 00:10:34,920 --> 00:10:38,360 Speaker 8: we have voted on crypto regulation to regulate the industry 202 00:10:38,440 --> 00:10:40,920 Speaker 8: and do the things we need to protect consumers, stop 203 00:10:40,960 --> 00:10:46,040 Speaker 8: the next FTX. You know, great bipartisan showing of support. 204 00:10:46,120 --> 00:10:48,760 Speaker 2: Yesterday in the House, we had the head of the 205 00:10:48,760 --> 00:10:52,240 Speaker 2: blockchain association with us at the table here yesterday, who 206 00:10:52,320 --> 00:10:55,439 Speaker 2: was on her way to a party after the program 207 00:10:55,679 --> 00:10:58,679 Speaker 2: because of the moment that you just framed, But how 208 00:10:58,679 --> 00:11:00,400 Speaker 2: do you make it more than a message meal? By 209 00:11:00,400 --> 00:11:02,080 Speaker 2: the way, I realized this is a big deal for 210 00:11:02,120 --> 00:11:04,800 Speaker 2: the industry. A couple of years ago. This moment probably 211 00:11:04,800 --> 00:11:06,640 Speaker 2: could not have been envisioned. But you want to get 212 00:11:06,640 --> 00:11:10,040 Speaker 2: it across the finish line, right, No, this. 213 00:11:09,960 --> 00:11:12,520 Speaker 8: Was this was you know, over a year, hundreds and 214 00:11:12,600 --> 00:11:15,440 Speaker 8: hundreds of hours of work with our Republican colleagues to 215 00:11:15,480 --> 00:11:17,160 Speaker 8: get this bill to a place where we could get 216 00:11:17,200 --> 00:11:19,560 Speaker 8: seventy one Democrats behind it. And by the way, I 217 00:11:19,600 --> 00:11:22,480 Speaker 8: saw her at that party afterwards, so I know she 218 00:11:22,559 --> 00:11:26,199 Speaker 8: made it. But you know, this is this has been 219 00:11:26,240 --> 00:11:30,160 Speaker 8: a you know, a bipartisan process. You know, my fellow 220 00:11:30,200 --> 00:11:33,600 Speaker 8: North Carolinian and Republican chair of our committee, Patrick McHenry, 221 00:11:34,000 --> 00:11:37,360 Speaker 8: sat down immediately with Democrats like me who wanted to 222 00:11:37,960 --> 00:11:39,760 Speaker 8: work on this issue and said, listen, we're going to 223 00:11:39,800 --> 00:11:43,280 Speaker 8: do this together. And you know, we brought in our changes, 224 00:11:43,360 --> 00:11:46,000 Speaker 8: we brought in you know, for this bill to get 225 00:11:46,000 --> 00:11:49,200 Speaker 8: it to this point. And you know, we know seventy 226 00:11:49,200 --> 00:11:51,640 Speaker 8: one Democrats is a big deal. This is more than 227 00:11:51,640 --> 00:11:53,560 Speaker 8: we thought we could get. But you just kind of 228 00:11:53,600 --> 00:11:56,600 Speaker 8: talk to folks, educate them on the issues. And if 229 00:11:56,600 --> 00:11:58,760 Speaker 8: you educate folks on the issues about why we need 230 00:11:58,800 --> 00:12:01,240 Speaker 8: to keep innovation in the US, why we need to 231 00:12:01,280 --> 00:12:04,560 Speaker 8: protect consumers and regulate the industry, you know, we got 232 00:12:04,640 --> 00:12:07,080 Speaker 8: a lot of great folks on board, including people like 233 00:12:07,400 --> 00:12:08,679 Speaker 8: Speaker Nancy Pelosi. 234 00:12:09,240 --> 00:12:13,679 Speaker 2: So a great win yesterday. Well it sounds like we're 235 00:12:13,720 --> 00:12:17,520 Speaker 2: going to have another pretty important development today with the 236 00:12:17,520 --> 00:12:24,720 Speaker 2: potential for an Ether ETF being approved. How important is 237 00:12:24,760 --> 00:12:27,920 Speaker 2: that in the normalization You talk about the education of 238 00:12:28,000 --> 00:12:30,200 Speaker 2: people here and that you're right. It tends to be 239 00:12:30,240 --> 00:12:32,760 Speaker 2: and I'm not sitting here with a position on this, 240 00:12:32,920 --> 00:12:35,400 Speaker 2: but tends to be the more people learn about crypto, 241 00:12:35,520 --> 00:12:37,880 Speaker 2: the more in some cases they are drawn to it. 242 00:12:38,559 --> 00:12:41,040 Speaker 2: If that's the case, you see headlines like today it's 243 00:12:41,080 --> 00:12:43,280 Speaker 2: not just bitcoin, it's Ether. This is part of the 244 00:12:43,920 --> 00:12:49,760 Speaker 2: industrial investment space. Does that unlock opportunities on Capitol Hill 245 00:12:49,920 --> 00:12:53,479 Speaker 2: or demand solutions on Capitol Hill? 246 00:12:54,360 --> 00:12:57,640 Speaker 8: I can just tell you Unether's that's a place where 247 00:12:57,760 --> 00:13:02,400 Speaker 8: the sec after we pushed and pushed allowed for a 248 00:13:02,400 --> 00:13:05,480 Speaker 8: Bitcoin e t F, and they ought to use the 249 00:13:05,520 --> 00:13:09,160 Speaker 8: same rules in rationale to approve the the ether E 250 00:13:09,240 --> 00:13:12,719 Speaker 8: t F. I pushed, you know, with Democrat Josh Gottheimer 251 00:13:12,800 --> 00:13:16,280 Speaker 8: Chair Patrick McHenry in a letter just yesterday to Gary 252 00:13:16,640 --> 00:13:20,200 Speaker 8: Gensler urging him to to approve that the ether E 253 00:13:20,280 --> 00:13:20,719 Speaker 8: t F. 254 00:13:21,360 --> 00:13:21,760 Speaker 4: Uh. 255 00:13:21,840 --> 00:13:24,240 Speaker 8: You know, but these are these are good products. This 256 00:13:24,280 --> 00:13:26,600 Speaker 8: is this is a place that is safe for for 257 00:13:26,679 --> 00:13:29,240 Speaker 8: consumers and and in a way that gives them the 258 00:13:29,920 --> 00:13:33,040 Speaker 8: opportunity to invest in these products. So I think it's 259 00:13:33,080 --> 00:13:34,920 Speaker 8: a good thing, and I'm hopeful that that we'll have 260 00:13:34,960 --> 00:13:38,680 Speaker 8: good news from the SEC. But you know, in general, 261 00:13:38,840 --> 00:13:42,600 Speaker 8: we're seeing regulation by enforcement that is not helping President Biden, 262 00:13:42,920 --> 00:13:45,240 Speaker 8: you know. And I think the SEC generally is is 263 00:13:45,280 --> 00:13:46,920 Speaker 8: out of step with with the rest of the Biden 264 00:13:46,920 --> 00:13:50,040 Speaker 8: administration on a lot of these issues. So, uh, you know, 265 00:13:50,120 --> 00:13:53,600 Speaker 8: the SEC is not uh, you know, the only voice, 266 00:13:53,640 --> 00:13:56,240 Speaker 8: the only the only person at the table here. 267 00:13:57,360 --> 00:14:01,320 Speaker 2: We've mentioned before that you're ending your tenure at least 268 00:14:01,360 --> 00:14:03,880 Speaker 2: for now in Congress, and as someone who has the 269 00:14:03,880 --> 00:14:06,880 Speaker 2: freedom to speak, not running for reelection, and I realize 270 00:14:06,920 --> 00:14:08,800 Speaker 2: that you may well be back in the political sphere 271 00:14:08,840 --> 00:14:11,600 Speaker 2: at some point soon. Has your office become a refuge 272 00:14:11,600 --> 00:14:14,640 Speaker 2: for other lawmakers who can come there and say whatever 273 00:14:14,679 --> 00:14:15,080 Speaker 2: they want. 274 00:14:16,520 --> 00:14:18,559 Speaker 8: You know, there's a ton of freedom in this that 275 00:14:18,600 --> 00:14:20,560 Speaker 8: you get to do the things that I care about, 276 00:14:20,560 --> 00:14:22,680 Speaker 8: and a bipartisan way. If I you know, if I 277 00:14:22,680 --> 00:14:25,000 Speaker 8: think the Democrats are right, I'm with my Democrats. If 278 00:14:25,040 --> 00:14:27,240 Speaker 8: the Republicans have a good point, you know, I get 279 00:14:27,280 --> 00:14:31,000 Speaker 8: to work with them on issues. So you know, that's 280 00:14:31,080 --> 00:14:33,440 Speaker 8: been great. But you know, for me, it's just about 281 00:14:33,440 --> 00:14:35,520 Speaker 8: getting four years of work done in two years. So 282 00:14:35,560 --> 00:14:38,680 Speaker 8: we are literally, you know, racing it to get to 283 00:14:38,680 --> 00:14:40,360 Speaker 8: the finish line, to do as much as we can. 284 00:14:41,000 --> 00:14:42,560 Speaker 6: And you know, people. 285 00:14:42,280 --> 00:14:44,840 Speaker 8: Who send us to Washington expect us to work and 286 00:14:44,880 --> 00:14:49,080 Speaker 8: get things done. And I just grasp for any opportunity 287 00:14:49,320 --> 00:14:52,120 Speaker 8: to move legislation that can get through the House and Senate, 288 00:14:52,200 --> 00:14:54,160 Speaker 8: get signed by the President, and help the people I'm 289 00:14:54,200 --> 00:14:54,480 Speaker 8: here to. 290 00:14:54,480 --> 00:14:59,320 Speaker 2: Serve, all while honoring the grateful dead that is Wiley Nickel. 291 00:14:59,320 --> 00:15:00,760 Speaker 2: I thought of you, and I I saw the images 292 00:15:00,800 --> 00:15:02,760 Speaker 2: from the sphere. Congressman, my god, I have to be 293 00:15:02,800 --> 00:15:05,160 Speaker 2: there for the next one. Thanks for coming back, and 294 00:15:05,200 --> 00:15:07,480 Speaker 2: don't be a stranger while you're in town. Wiley nicol 295 00:15:07,480 --> 00:15:09,680 Speaker 2: the Democrat from North Carolina. 296 00:15:12,120 --> 00:15:15,400 Speaker 1: You're listening to the Bloomberg Balance of Power podcast can 297 00:15:15,600 --> 00:15:18,920 Speaker 1: just live weekdays at noon Eastern on Applecarplay and royd 298 00:15:18,960 --> 00:15:21,680 Speaker 1: Otto with a Bloomberg business ad. You can also listen 299 00:15:21,760 --> 00:15:24,880 Speaker 1: live on Amazon Alexa from our flagship New York station 300 00:15:25,280 --> 00:15:27,239 Speaker 1: Just Say Alexa playing Bloomberg. 301 00:15:27,240 --> 00:15:33,200 Speaker 2: Eleven thirty, we had the voice of an expert, Robin Sanders, 302 00:15:33,280 --> 00:15:37,160 Speaker 2: former US Ambassador to the Congo under George W. Bush, 303 00:15:37,200 --> 00:15:40,640 Speaker 2: to Nigeria under George Bush, and Barack Obama, former Director 304 00:15:40,640 --> 00:15:43,480 Speaker 2: for Africa at the National Security Council, now a member 305 00:15:43,480 --> 00:15:48,200 Speaker 2: of the board of Human Rights Watch. Madam Ambassador, It's 306 00:15:48,200 --> 00:15:50,600 Speaker 2: great to have you on Bloomberg. What do you want 307 00:15:50,600 --> 00:15:53,240 Speaker 2: to hear from Joe Biden when he speaks today? 308 00:15:54,800 --> 00:15:57,600 Speaker 9: I think that there's a scene seenter here that I 309 00:15:57,640 --> 00:16:00,680 Speaker 9: want to actually talk about. First, this is the first 310 00:16:00,800 --> 00:16:04,040 Speaker 9: African president's state visit since two thousand and eight. That 311 00:16:04,200 --> 00:16:08,880 Speaker 9: should really set the tone for howeverten this is the 312 00:16:08,920 --> 00:16:12,480 Speaker 9: fact that Kenya has been chosen for this really underscores 313 00:16:12,520 --> 00:16:15,240 Speaker 9: the role that Kenya is playing on the continent and 314 00:16:15,280 --> 00:16:19,800 Speaker 9: that Kenya also playing a more global leading role, particularly 315 00:16:19,800 --> 00:16:21,760 Speaker 9: with the announcement today that it will be a non 316 00:16:21,920 --> 00:16:25,320 Speaker 9: natal security partner for the US. So this is a 317 00:16:25,320 --> 00:16:28,080 Speaker 9: big deal. It's a pivot for us in a big 318 00:16:28,120 --> 00:16:30,000 Speaker 9: way that we needed to make. We are behind the 319 00:16:30,040 --> 00:16:33,800 Speaker 9: curve in terms of our engagement with Africa on a 320 00:16:33,880 --> 00:16:39,240 Speaker 9: consistent level. We're seen as being episodic, only coming to 321 00:16:39,280 --> 00:16:42,040 Speaker 9: the region when we need something. And I think this 322 00:16:42,160 --> 00:16:45,640 Speaker 9: message that we hear you, we see you as an 323 00:16:45,680 --> 00:16:48,800 Speaker 9: equal partner and a strategic partner that Biden is doing 324 00:16:48,880 --> 00:16:51,040 Speaker 9: during this visit is extremely important. 325 00:16:52,720 --> 00:16:54,720 Speaker 2: If you're with us on Bloomberg TV, you see the 326 00:16:54,760 --> 00:16:57,800 Speaker 2: East Room at the White House decked out and ready 327 00:16:57,840 --> 00:16:59,960 Speaker 2: for these two leaders when they speak. Will bring the 328 00:17:00,080 --> 00:17:03,040 Speaker 2: conversation with you and Madam Ambassador, I'll apologize in advance 329 00:17:03,800 --> 00:17:07,639 Speaker 2: if our conversation is interrupted. There are a lot of 330 00:17:07,680 --> 00:17:12,160 Speaker 2: audiences for the event that you just described, and China 331 00:17:12,320 --> 00:17:14,960 Speaker 2: is one of them, to the extent that countries like 332 00:17:15,040 --> 00:17:19,480 Speaker 2: Kenya have been left carrying heavy debtloads as a byproduct 333 00:17:19,520 --> 00:17:22,680 Speaker 2: of the Belt and Road initiative in China. What can 334 00:17:22,720 --> 00:17:25,800 Speaker 2: the US do to help? Is it through private enterprise, 335 00:17:25,840 --> 00:17:29,919 Speaker 2: private investment as this administration is saying, or does the 336 00:17:29,960 --> 00:17:31,760 Speaker 2: government need to help here as well? 337 00:17:33,560 --> 00:17:37,320 Speaker 9: All of those combined needs to be China. We are 338 00:17:37,359 --> 00:17:40,840 Speaker 9: behind the curve in this visit, though, you'll see that 339 00:17:41,840 --> 00:17:43,560 Speaker 9: we're focused on a number of things. There is with 340 00:17:43,640 --> 00:17:47,680 Speaker 9: a business roundtable that was held at the White House 341 00:17:47,720 --> 00:17:51,280 Speaker 9: as well. There's a billion dollar deal on the table. Microsoft. 342 00:17:51,320 --> 00:17:54,720 Speaker 9: You had visits to Coca Cola, you had a state 343 00:17:54,840 --> 00:17:59,320 Speaker 9: visit also, he went to Atlanta and met with business 344 00:17:59,400 --> 00:18:03,360 Speaker 9: leaders there, and so it is a very multi faceted 345 00:18:03,600 --> 00:18:07,080 Speaker 9: thematic rip. It is not only the security message, it's 346 00:18:07,160 --> 00:18:10,000 Speaker 9: not only the democracy message, but it is the trade 347 00:18:10,320 --> 00:18:14,280 Speaker 9: and investment message. American businesses wanted to trade was the 348 00:18:14,359 --> 00:18:18,920 Speaker 9: country like Kenya because of its history of democracy, and 349 00:18:19,000 --> 00:18:21,200 Speaker 9: we need to step up as the US government to 350 00:18:21,280 --> 00:18:24,880 Speaker 9: do more. You'll see that prosper Africa. You know, all 351 00:18:24,920 --> 00:18:28,400 Speaker 9: the government agencies on the development and business side are 352 00:18:28,560 --> 00:18:32,320 Speaker 9: very much involved in this visit and they're excited about it. 353 00:18:32,600 --> 00:18:36,359 Speaker 9: From a trade perspective, from a foreign direct investment perspective, 354 00:18:36,600 --> 00:18:38,920 Speaker 9: So all of those things are playing in this visit. 355 00:18:39,400 --> 00:18:42,439 Speaker 9: And for those of us who worked ONCA for years, 356 00:18:42,440 --> 00:18:44,720 Speaker 9: we see this as a big plus not only for 357 00:18:44,800 --> 00:18:47,800 Speaker 9: the US but for the image that the US is 358 00:18:47,840 --> 00:18:51,000 Speaker 9: really getting it that they need to be involved with Africa. 359 00:18:51,080 --> 00:18:54,120 Speaker 9: In a much more deep and comprehensive way. 360 00:18:54,760 --> 00:18:56,680 Speaker 2: Does Joe Biden need to go there now? 361 00:18:58,600 --> 00:19:02,520 Speaker 9: I think so. He had mentioned it earlier in his tenure. 362 00:19:03,480 --> 00:19:05,520 Speaker 9: I know things on the ground in the world have 363 00:19:05,600 --> 00:19:08,480 Speaker 9: trained so drastically, So I don't know whether that will 364 00:19:08,520 --> 00:19:14,359 Speaker 9: happen now in November. Realistically, I get that. But the 365 00:19:14,440 --> 00:19:18,280 Speaker 9: fact that this state is it. I said, when you 366 00:19:18,320 --> 00:19:25,080 Speaker 9: look at the time period two thousand time where generations 367 00:19:25,119 --> 00:19:28,480 Speaker 9: have come into leadership on the continent, not only just 368 00:19:28,520 --> 00:19:30,840 Speaker 9: in business but in politics, and we've been left out 369 00:19:30,840 --> 00:19:35,520 Speaker 9: of that because we haven't shown the constancy that China has. 370 00:19:35,880 --> 00:19:38,800 Speaker 9: And whatever criticisms that you have about China in terms 371 00:19:38,840 --> 00:19:42,399 Speaker 9: of debt, those are true. But China can pivot fast 372 00:19:42,400 --> 00:19:44,800 Speaker 9: as he can, and they have understood that and they 373 00:19:44,840 --> 00:19:47,399 Speaker 9: are trying to address that. But the other thing that 374 00:19:47,440 --> 00:19:51,560 Speaker 9: I will say that China has had a annual meeting 375 00:19:51,600 --> 00:19:54,840 Speaker 9: with African heads of states the nineteen nineties, since at 376 00:19:54,880 --> 00:19:57,399 Speaker 9: the end of the nineteen nineties, and so you have 377 00:19:57,520 --> 00:20:02,959 Speaker 9: this longevity there of consu instancy, including the Foreign Minister, 378 00:20:03,040 --> 00:20:06,840 Speaker 9: which would be the equivalent of Secretary Blinking going to 379 00:20:06,880 --> 00:20:10,359 Speaker 9: the continent every single year. At the beginning of the 380 00:20:10,480 --> 00:20:13,199 Speaker 9: year without fail for all of that period of time. 381 00:20:13,600 --> 00:20:17,240 Speaker 9: So we haven't shown this consistent engagement, and I think 382 00:20:17,320 --> 00:20:20,479 Speaker 9: that this I can't tell you how important this visit is. 383 00:20:20,840 --> 00:20:23,439 Speaker 9: It sends so many messages in the right direction, and 384 00:20:23,480 --> 00:20:26,479 Speaker 9: I really commend the administration for moving in that direction 385 00:20:26,600 --> 00:20:27,800 Speaker 9: in such a high level way. 386 00:20:28,920 --> 00:20:31,879 Speaker 2: Well, it is pretty amazing. We remember the investments that 387 00:20:31,920 --> 00:20:34,600 Speaker 2: George W. Bush made as a Republican president. You were 388 00:20:34,640 --> 00:20:38,560 Speaker 2: there for it as ambassador to the Congo, and there's 389 00:20:38,600 --> 00:20:40,440 Speaker 2: been a bit of an interruption. To your point, it's 390 00:20:40,440 --> 00:20:44,040 Speaker 2: been sixteen years. How long will it be before there's another. 391 00:20:45,920 --> 00:20:48,040 Speaker 9: Well, I'm hoping that this is a wake up call 392 00:20:48,080 --> 00:20:53,440 Speaker 9: overall that Africa is here. It will have the largest 393 00:20:53,440 --> 00:20:57,920 Speaker 9: population in the world in collectly, I mean combined in 394 00:20:58,160 --> 00:21:01,199 Speaker 9: about a decade out right now, it's on track to 395 00:21:01,280 --> 00:21:06,399 Speaker 9: have the largest working age population combined. That means you 396 00:21:06,400 --> 00:21:09,080 Speaker 9: combine the entire rest of the world, the African continent 397 00:21:09,080 --> 00:21:12,480 Speaker 9: will have the largest working aid population in about ten years. 398 00:21:12,600 --> 00:21:15,520 Speaker 9: And so when I lecture about I talked to students 399 00:21:15,560 --> 00:21:19,520 Speaker 9: and people interested in Africa, even from the American perspective, 400 00:21:19,520 --> 00:21:21,400 Speaker 9: Where do you think your markets are going to be? 401 00:21:21,960 --> 00:21:25,360 Speaker 9: Who do you think your local and economic leaders are 402 00:21:25,359 --> 00:21:26,959 Speaker 9: going to be where they're going to be, They're going 403 00:21:26,960 --> 00:21:29,119 Speaker 9: to be on the continent, and they're starting now. And 404 00:21:29,160 --> 00:21:34,080 Speaker 9: you see that now and that the Biden administration has 405 00:21:34,160 --> 00:21:40,000 Speaker 9: recognized that. And I mentioned earlier that President Ruto had 406 00:21:40,080 --> 00:21:43,760 Speaker 9: done a stop in Atlanta. I thought that was fantastic. 407 00:21:43,800 --> 00:21:47,679 Speaker 9: He went to Spelman to highlight, you know, educational ties, 408 00:21:48,240 --> 00:21:51,359 Speaker 9: there's a climate change a portion of the visit. I 409 00:21:51,400 --> 00:21:54,520 Speaker 9: already mentioned the business and trade aspect. He went to 410 00:21:54,560 --> 00:21:59,080 Speaker 9: the creative industries of Perry Tyler to show you just 411 00:21:59,119 --> 00:22:05,560 Speaker 9: how important digital Africa and the United States, and of 412 00:22:05,600 --> 00:22:10,120 Speaker 9: course the history there. President Ruttel also had a visit 413 00:22:10,200 --> 00:22:12,920 Speaker 9: to the Hill. He met with Speaker Johnson, he met 414 00:22:12,960 --> 00:22:18,600 Speaker 9: with the minority leader Jefferies, met with the Congressional Black 415 00:22:18,640 --> 00:22:21,840 Speaker 9: Caucus leaders. And so this is a comprehensive visit. It 416 00:22:21,920 --> 00:22:25,240 Speaker 9: was well thought out, very detailed. It doesn't mean that 417 00:22:25,280 --> 00:22:28,920 Speaker 9: there aren't challenges on the line. I also want to 418 00:22:28,920 --> 00:22:32,120 Speaker 9: add the security portion to this. Uh, the fact that 419 00:22:32,280 --> 00:22:35,040 Speaker 9: the President has announced that Keny will be a non 420 00:22:35,680 --> 00:22:40,680 Speaker 9: NATO security partner. We've never done that on a concontent 421 00:22:40,800 --> 00:22:44,320 Speaker 9: before in such an official way. We're episodic about that 422 00:22:44,640 --> 00:22:47,120 Speaker 9: you know, will choose a particular issue in a particular 423 00:22:47,119 --> 00:22:49,840 Speaker 9: country to lats on security wise, but to designate an 424 00:22:50,040 --> 00:22:54,240 Speaker 9: entire country and that lead as a security partner at 425 00:22:54,320 --> 00:22:56,800 Speaker 9: the at the as close to the natal level as 426 00:22:56,840 --> 00:23:02,960 Speaker 9: you can get, I think is is unique. And then Kenya, 427 00:23:03,000 --> 00:23:05,080 Speaker 9: of course, as you know, is going to be leading 428 00:23:05,080 --> 00:23:08,800 Speaker 9: this multinational force to Haiti, and so all of that, 429 00:23:09,000 --> 00:23:11,679 Speaker 9: its role in the region, its role in trying to 430 00:23:11,720 --> 00:23:16,159 Speaker 9: turn its economics around. It's leadership on climate change in 431 00:23:16,160 --> 00:23:20,399 Speaker 9: the region, it's leadership not only in East Africa, but 432 00:23:20,520 --> 00:23:22,640 Speaker 9: you know the continent writ large, and all the other 433 00:23:22,680 --> 00:23:25,440 Speaker 9: things that I mentioned in terms of trade and business 434 00:23:25,480 --> 00:23:28,040 Speaker 9: sides are just fundamental and very important. 435 00:23:29,880 --> 00:23:32,760 Speaker 2: She spent time serving as US Ambassador to Nigeria and 436 00:23:32,800 --> 00:23:37,280 Speaker 2: the Congo Former ambassador Robin Sanders. We really appreciate the insights. 437 00:23:40,840 --> 00:23:44,359 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 438 00:23:44,440 --> 00:23:47,280 Speaker 1: Just Live weekdays at noon Eastern on APO car Play 439 00:23:47,320 --> 00:23:49,960 Speaker 1: and then Roun Auto with the Bloomberg Business app. Listen 440 00:23:50,040 --> 00:23:53,080 Speaker 1: on demand wherever you get your podcasts, or watch us 441 00:23:53,119 --> 00:23:56,440 Speaker 1: live on YouTube. 442 00:23:56,760 --> 00:23:58,760 Speaker 2: We assemble our panel now with an eye on the 443 00:23:58,800 --> 00:24:02,040 Speaker 2: campaign trail of course, Joe Biden here the trappings of 444 00:24:02,080 --> 00:24:03,880 Speaker 2: the White House. That's the whole point of this, right 445 00:24:04,200 --> 00:24:08,600 Speaker 2: caught in the act of presidenting. He's not on the 446 00:24:08,600 --> 00:24:10,879 Speaker 2: campaign trail today. He's got the one thing that no 447 00:24:10,880 --> 00:24:12,560 Speaker 2: one else can do when they're running, and that is 448 00:24:12,600 --> 00:24:16,600 Speaker 2: actually being on the stage at the White House all 449 00:24:16,640 --> 00:24:21,600 Speaker 2: the while. Donald Trump's world rocked by Nicky Haley. And 450 00:24:21,640 --> 00:24:23,760 Speaker 2: I'm not about to tell you another story here about 451 00:24:23,760 --> 00:24:27,400 Speaker 2: a protest vote in a primary state. She says she's 452 00:24:27,480 --> 00:24:30,679 Speaker 2: going to vote Trump. Nicki Haley talking in Washington at 453 00:24:30,680 --> 00:24:34,760 Speaker 2: the Hudson Institute yesterday before we assemble the panel. Here's 454 00:24:34,800 --> 00:24:35,400 Speaker 2: what she said. 455 00:24:35,760 --> 00:24:40,520 Speaker 10: Biden has been a catastrophe, So I will be voting 456 00:24:40,520 --> 00:24:44,679 Speaker 10: for Trump. Trump would be smart to reach out to 457 00:24:44,800 --> 00:24:48,080 Speaker 10: the millions of people who voted for me and continue 458 00:24:48,080 --> 00:24:52,359 Speaker 10: to support me and not assume that they're just going 459 00:24:52,440 --> 00:24:55,639 Speaker 10: to be with him. And I genuinely hope he does that. 460 00:24:57,880 --> 00:25:03,080 Speaker 2: Okay, well, that's not a endorsement, or is it a 461 00:25:03,080 --> 00:25:05,760 Speaker 2: half endorsement. She's going to vote for him, but he's 462 00:25:05,760 --> 00:25:07,919 Speaker 2: still got to work for the votes of her supporters, 463 00:25:08,560 --> 00:25:12,400 Speaker 2: many of whom have stood by her through a primary 464 00:25:12,400 --> 00:25:16,679 Speaker 2: season that did not even include her active campaign. Jeanie 465 00:25:16,680 --> 00:25:20,159 Speaker 2: Shanzana was with as Bloomberg Politics contributor and now Senior 466 00:25:20,200 --> 00:25:22,320 Speaker 2: Democracy Fellow with the Center for the Study of the 467 00:25:22,320 --> 00:25:27,040 Speaker 2: Presidency and Congress, alongside Republican strategist Chape and Faye, managing 468 00:25:27,040 --> 00:25:30,200 Speaker 2: director at ACTEM. Great to see both of you here. 469 00:25:30,720 --> 00:25:34,200 Speaker 2: Help me understand what's going on Chapin inside the Republican Party. 470 00:25:34,280 --> 00:25:37,160 Speaker 2: Is it enough or doesn't it even matter for Nikki 471 00:25:37,200 --> 00:25:40,240 Speaker 2: Hayley to say she's voting Trump? Why not the full endorsement? 472 00:25:40,280 --> 00:25:41,159 Speaker 2: Why the half measure? 473 00:25:43,560 --> 00:25:45,119 Speaker 4: Well, I think it does matter. 474 00:25:45,200 --> 00:25:47,479 Speaker 11: I think it's a signal to her voters that they 475 00:25:47,480 --> 00:25:50,120 Speaker 11: can vote for Trump, and I think she still wants 476 00:25:50,119 --> 00:25:52,360 Speaker 11: to see him do some of the right things on 477 00:25:52,400 --> 00:25:55,960 Speaker 11: her you know, particular policy positions and in general in 478 00:25:56,000 --> 00:25:58,200 Speaker 11: the campaign. But it is certainly an endorsement of Trump. 479 00:25:58,800 --> 00:26:01,560 Speaker 11: Anyone saying they're going to vote for them is an endorsement. 480 00:26:02,560 --> 00:26:05,280 Speaker 11: I think it matters just a little bit. I think 481 00:26:05,320 --> 00:26:08,960 Speaker 11: she brings some voters to the table. Though you know, 482 00:26:09,280 --> 00:26:14,879 Speaker 11: Trump was handily winning all of these primary votes. You know, 483 00:26:15,640 --> 00:26:19,120 Speaker 11: not much contest, but he's been winning them handily and 484 00:26:19,359 --> 00:26:22,920 Speaker 11: in some cases in a lot of cases combined, more 485 00:26:23,119 --> 00:26:25,240 Speaker 11: he receives more votes than all the other ones on 486 00:26:25,280 --> 00:26:26,120 Speaker 11: the ballot combined. 487 00:26:26,240 --> 00:26:27,320 Speaker 4: So it almost. 488 00:26:27,600 --> 00:26:31,199 Speaker 11: Doesn't matter a whole terrible lot if he loses all 489 00:26:31,240 --> 00:26:33,520 Speaker 11: of Nicky Haley's voters. But it's certainly, you know, as 490 00:26:33,520 --> 00:26:35,720 Speaker 11: they vote, as they fight around the margins for the 491 00:26:35,760 --> 00:26:38,359 Speaker 11: independent voters, those voters are certainly once Trump is. 492 00:26:38,359 --> 00:26:39,000 Speaker 4: Going to need to bank. 493 00:26:40,480 --> 00:26:42,200 Speaker 2: Yeah, I wonder your thoughts on this, genie, And to 494 00:26:42,240 --> 00:26:46,040 Speaker 2: the extent to which they could either stay home or 495 00:26:46,119 --> 00:26:49,119 Speaker 2: actually vote for the Democrat in this case, let's not 496 00:26:49,200 --> 00:26:51,960 Speaker 2: confuse ourselves. Nicki Haley was and he is a very 497 00:26:52,000 --> 00:26:56,840 Speaker 2: conservative Republican, and she said something really interesting yesterday. I'd 498 00:26:56,840 --> 00:26:58,560 Speaker 2: like to give you both a chance to react to this, 499 00:26:59,040 --> 00:27:01,000 Speaker 2: because yes, she's going to vote for Donald Trump, and 500 00:27:01,080 --> 00:27:04,560 Speaker 2: yes she said Joe Biden's a catastrophe. But here's what 501 00:27:04,600 --> 00:27:08,439 Speaker 2: else she said. Quote A loud part of each party 502 00:27:09,080 --> 00:27:12,239 Speaker 2: wants us to abandon our allies, appease our enemies, and 503 00:27:12,280 --> 00:27:16,399 Speaker 2: focus only on the problems we have at home. This 504 00:27:16,480 --> 00:27:19,720 Speaker 2: worldview has already put America in great danger, and the 505 00:27:19,840 --> 00:27:24,960 Speaker 2: threat is mounting by the day. Unquote. That's not an 506 00:27:25,080 --> 00:27:28,520 Speaker 2: endorsement of Donald Trump's worldview, Genie, who's she talking to? 507 00:27:30,400 --> 00:27:32,440 Speaker 7: Yeah, First of all, I think we need a new 508 00:27:32,480 --> 00:27:37,879 Speaker 7: word for, you know, lukewarm, tepid. To your point, endorsement. 509 00:27:38,320 --> 00:27:40,640 Speaker 7: I kept feeling like there should be like a cartoon 510 00:27:40,680 --> 00:27:43,320 Speaker 7: bubble over her head saying, you know, I'm only doing 511 00:27:43,359 --> 00:27:46,479 Speaker 7: this because the future in the party. I mean, you know, 512 00:27:46,720 --> 00:27:49,800 Speaker 7: Chris Christy knew this was coming. That's why he said 513 00:27:49,800 --> 00:27:52,719 Speaker 7: he wouldn't endorse her, because he knew she would endorse 514 00:27:52,760 --> 00:27:56,199 Speaker 7: Donald Trump in the end. And she has. And to 515 00:27:56,240 --> 00:27:59,920 Speaker 7: your point, her list, I wrote them down of priorities 516 00:28:00,040 --> 00:28:02,960 Speaker 7: she looks for in a president, has the back of allies, 517 00:28:03,560 --> 00:28:07,080 Speaker 7: is going to secure the border, supports freedom, and of 518 00:28:07,119 --> 00:28:10,840 Speaker 7: course understands the need for less debt. In every single 519 00:28:10,960 --> 00:28:15,040 Speaker 7: one of those issues. She criticized, you know, viciously, Donald 520 00:28:15,080 --> 00:28:18,920 Speaker 7: Trump on those on the allies. She criticized him for saying, 521 00:28:19,240 --> 00:28:21,959 Speaker 7: not only wouldn't he have the back of our NATO allies, 522 00:28:22,000 --> 00:28:24,639 Speaker 7: but he'd encourage Russia to attack them. That was in 523 00:28:24,720 --> 00:28:28,119 Speaker 7: February in the debate. She said, Donald Trump randaut eight 524 00:28:28,359 --> 00:28:32,840 Speaker 7: trillion dollars in debt. So I can't answer, to your point, 525 00:28:33,200 --> 00:28:37,040 Speaker 7: who she is talking to and her sort of lukewarm 526 00:28:37,080 --> 00:28:38,960 Speaker 7: I'll vote for him, but you guys make up your 527 00:28:38,960 --> 00:28:41,920 Speaker 7: own mind. This is a big problem for Republicans. You've 528 00:28:41,960 --> 00:28:46,440 Speaker 7: got closed primaries with one fifth of voters going out 529 00:28:46,440 --> 00:28:49,800 Speaker 7: to vote for somebody who has no chance of winning 530 00:28:49,840 --> 00:28:53,160 Speaker 7: in Nikki Haley, whether it's Indiana, and you know, up 531 00:28:53,200 --> 00:28:55,680 Speaker 7: and down these these states in the last few months 532 00:28:55,680 --> 00:28:59,160 Speaker 7: and she dropped out, So big problem. I don't see 533 00:28:59,160 --> 00:29:01,240 Speaker 7: this as much of an endorsement. I see it as 534 00:29:01,280 --> 00:29:03,360 Speaker 7: her trying to hang on to a role in the 535 00:29:03,400 --> 00:29:06,280 Speaker 7: party when Donald Trump is shown the door at some 536 00:29:06,400 --> 00:29:07,160 Speaker 7: point or the other. 537 00:29:08,320 --> 00:29:10,320 Speaker 2: Well, and I suspect that she will have one chapein 538 00:29:10,360 --> 00:29:12,920 Speaker 2: I'm guessing that you do too. But her take on 539 00:29:13,360 --> 00:29:16,840 Speaker 2: Donald Trump's protectionist view, and she does refer to each 540 00:29:17,160 --> 00:29:20,400 Speaker 2: loud part of each party she said in this quote 541 00:29:21,160 --> 00:29:24,480 Speaker 2: is speaking to whom or is she simply out of 542 00:29:24,520 --> 00:29:26,600 Speaker 2: step with the modern Republican Party. 543 00:29:29,280 --> 00:29:32,920 Speaker 11: Well, I think certainly her presential efforts shows that she's 544 00:29:33,000 --> 00:29:35,480 Speaker 11: not fully in step with the current Republican Party. So, 545 00:29:36,720 --> 00:29:40,200 Speaker 11: you know, I think that is an issue I would 546 00:29:40,280 --> 00:29:42,080 Speaker 11: note though on you know, I think one of the 547 00:29:42,080 --> 00:29:45,320 Speaker 11: things the point she's making is on national security. If 548 00:29:45,320 --> 00:29:47,800 Speaker 11: you just compare where we are now from where we 549 00:29:47,800 --> 00:29:50,400 Speaker 11: were four years ago. I mean things, And we can 550 00:29:50,440 --> 00:29:52,480 Speaker 11: have a debate about whether Joe Biden is to blame 551 00:29:52,760 --> 00:29:55,040 Speaker 11: at all or fully or what for this, but the 552 00:29:55,080 --> 00:29:57,520 Speaker 11: world in the country is just much more dangerous and 553 00:29:57,600 --> 00:30:01,440 Speaker 11: the incumbent gets tagged with that no matter whether he's responsible, 554 00:30:01,440 --> 00:30:04,360 Speaker 11: he or she is responsible. Right, So Joe Biden is 555 00:30:04,400 --> 00:30:07,840 Speaker 11: presiding over, you know, a a country in a world 556 00:30:07,880 --> 00:30:11,239 Speaker 11: where there are multiple wars on multiple fronts. Uh, you know, 557 00:30:11,400 --> 00:30:14,600 Speaker 11: over the southern border, people are pouring over. Things are 558 00:30:14,600 --> 00:30:17,600 Speaker 11: getting worse, and I think a lot of people, including 559 00:30:17,640 --> 00:30:20,880 Speaker 11: Nikki Haley, are wondering, like, what is the plan here? 560 00:30:21,000 --> 00:30:26,040 Speaker 4: You know, no one you know he he on the border. 561 00:30:26,840 --> 00:30:30,440 Speaker 11: There's just nothing happening, right, and the national security state 562 00:30:30,520 --> 00:30:33,760 Speaker 11: status in this country is much worse than it was. 563 00:30:34,160 --> 00:30:36,160 Speaker 4: We are less secure, less safe than we were four 564 00:30:36,240 --> 00:30:37,880 Speaker 4: years ago. So I think that's what she. 565 00:30:37,960 --> 00:30:40,760 Speaker 11: You know, that's she was, you know, the UN ambassador. 566 00:30:40,880 --> 00:30:42,560 Speaker 11: This is something she cares a lot about. This is 567 00:30:42,560 --> 00:30:45,280 Speaker 11: something in her wheelhouse. This is something that she has 568 00:30:45,280 --> 00:30:47,880 Speaker 11: a voice on. So I think you're gonna hear more 569 00:30:48,280 --> 00:30:52,600 Speaker 11: from her on these particular topics in particular uh as 570 00:30:52,640 --> 00:30:55,440 Speaker 11: as the campaign goes, and I would also just point out, 571 00:30:55,640 --> 00:30:58,720 Speaker 11: you know, the the tepid endorsement, the I will vote 572 00:30:58,720 --> 00:31:00,880 Speaker 11: for him, but he has to earn the vote. That's 573 00:31:00,920 --> 00:31:02,800 Speaker 11: a way for her to have a voice also during 574 00:31:02,800 --> 00:31:05,200 Speaker 11: the campaign, right, That's a way for her to keep 575 00:31:06,120 --> 00:31:08,200 Speaker 11: talking about the things she wants to talk about and 576 00:31:08,280 --> 00:31:12,640 Speaker 11: pushing the president's form of President Trump to the right 577 00:31:12,640 --> 00:31:13,960 Speaker 11: place in her eyes. 578 00:31:15,120 --> 00:31:17,840 Speaker 2: You think Chapin she gets a role, a speaking role 579 00:31:18,000 --> 00:31:18,760 Speaker 2: at the convention. 580 00:31:20,880 --> 00:31:23,680 Speaker 11: It's such a hard guessing game to play with Donald Trump. 581 00:31:24,360 --> 00:31:27,320 Speaker 11: You know, it's hard to tell if you know he 582 00:31:27,480 --> 00:31:31,240 Speaker 11: has if she successfully got under his skin, and it's 583 00:31:31,280 --> 00:31:34,520 Speaker 11: a no or Like many others who have tried and 584 00:31:34,600 --> 00:31:37,280 Speaker 11: failed to take him on, they get put into the 585 00:31:37,280 --> 00:31:41,000 Speaker 11: collection you know of speakers and cabinet members and stuff. 586 00:31:41,040 --> 00:31:43,960 Speaker 4: So I think there's a possibility. 587 00:31:44,320 --> 00:31:47,480 Speaker 11: I'm not sure President Trump wants anyone who ran against 588 00:31:47,520 --> 00:31:48,360 Speaker 11: him to really. 589 00:31:48,160 --> 00:31:52,239 Speaker 4: Have a huge a huge platform there, but you never know. 590 00:31:52,400 --> 00:31:54,239 Speaker 11: I mean, on the other side of the the other 591 00:31:54,280 --> 00:31:56,520 Speaker 11: side of that coin is that always feels nice for 592 00:31:56,600 --> 00:31:58,880 Speaker 11: someone to have lost to you, and that to hear them, 593 00:31:59,040 --> 00:32:01,000 Speaker 11: you know publicly, ador Or she woute a speech to 594 00:32:01,040 --> 00:32:04,520 Speaker 11: the entire country. So you know, gloss, I really I 595 00:32:04,520 --> 00:32:06,000 Speaker 11: don't even I think it's fifty to fifty. 596 00:32:06,920 --> 00:32:09,440 Speaker 2: Well, I'll tell you. I remember that Ted Cruz speech. Boy, 597 00:32:09,480 --> 00:32:11,760 Speaker 2: that didn't go over the way they expected it to. 598 00:32:12,960 --> 00:32:13,320 Speaker 4: You didn't. 599 00:32:13,560 --> 00:32:16,760 Speaker 2: You don't think Nikki Haley shows up? How about Mike Pence, Genie, 600 00:32:16,840 --> 00:32:18,960 Speaker 2: Is he gonna speak at the convention? 601 00:32:20,960 --> 00:32:23,480 Speaker 7: I would doubt it, you know, I think we have 602 00:32:23,520 --> 00:32:26,120 Speaker 7: to put Mike Pence Liz Cheney, and they said they 603 00:32:26,160 --> 00:32:28,840 Speaker 7: wouldn't support him. I doubt they'll be there. You know, 604 00:32:29,080 --> 00:32:31,480 Speaker 7: Donald Trump, as you know, came out and said, not 605 00:32:31,520 --> 00:32:34,320 Speaker 7: only isn't she going to have a you know, any 606 00:32:34,560 --> 00:32:36,959 Speaker 7: sort of role as vice president or anything else. He 607 00:32:36,960 --> 00:32:39,920 Speaker 7: doesn't want her supporters. She's banned. He'll win without them. 608 00:32:40,640 --> 00:32:42,680 Speaker 7: Who knows he could slip on that, you know, in 609 00:32:42,720 --> 00:32:46,280 Speaker 7: the next day. But I do think this show is enormous, 610 00:32:46,480 --> 00:32:49,480 Speaker 7: you know, an enormous division in the Republican Party that 611 00:32:49,520 --> 00:32:51,760 Speaker 7: we don't talk a lot about. I mean, we talk 612 00:32:51,840 --> 00:32:54,520 Speaker 7: about the division and the Democratic Party, and lord knows 613 00:32:54,560 --> 00:32:57,960 Speaker 7: it's there, but on the Republican side. You know, somebody 614 00:32:58,000 --> 00:33:01,240 Speaker 7: pointed out, and I think it's important to say when 615 00:33:01,240 --> 00:33:05,640 Speaker 7: you're looking at somebody like Larry Hogan, this more traditional Republican. 616 00:33:05,760 --> 00:33:09,760 Speaker 7: In the Maryland primary, he gets sixty seven percent. That 617 00:33:10,040 --> 00:33:12,840 Speaker 7: shows you that there are maga voters in Maryland who 618 00:33:12,880 --> 00:33:15,800 Speaker 7: are not going to come out for him, and just similarly, 619 00:33:15,880 --> 00:33:20,280 Speaker 7: there are traditional quote unquote Republicans that are going out 620 00:33:20,320 --> 00:33:23,040 Speaker 7: for him. And that is across the board. That's why 621 00:33:23,400 --> 00:33:26,120 Speaker 7: she continues long after she's dropped out of the race, 622 00:33:26,560 --> 00:33:28,800 Speaker 7: to see you see people coming out and saying, I 623 00:33:28,880 --> 00:33:31,120 Speaker 7: know she can't win, She's not even in this thing anymore, 624 00:33:31,320 --> 00:33:33,120 Speaker 7: but you know what, I'm going to take a stand 625 00:33:33,160 --> 00:33:35,440 Speaker 7: and cast my vote for her in a closed primary. 626 00:33:35,760 --> 00:33:38,680 Speaker 7: So there is a division there and it probably won't 627 00:33:38,680 --> 00:33:41,520 Speaker 7: be addressed this go around here at the Republican Convention, 628 00:33:42,040 --> 00:33:44,600 Speaker 7: but boy, it's there and it is going to crop up, 629 00:33:44,640 --> 00:33:47,000 Speaker 7: and somebody should be there to take advantage of it. 630 00:33:47,200 --> 00:33:51,400 Speaker 7: When Donald Trump takes a step aside at some point, well. 631 00:33:51,440 --> 00:33:53,400 Speaker 2: Let me just take the opportunity to put a little 632 00:33:53,480 --> 00:33:56,719 Speaker 2: fear up the spine of politicos across the Capitol here 633 00:33:56,760 --> 00:34:00,200 Speaker 2: and even in New York where you are, Genie. The 634 00:34:00,320 --> 00:34:05,120 Speaker 2: great fear expressed in the newest polling by Marquette Law 635 00:34:05,160 --> 00:34:09,840 Speaker 2: School general election. If it were held today, Trump versus 636 00:34:09,840 --> 00:34:14,400 Speaker 2: Biden fifty to fifty, it's a tie. This is the 637 00:34:14,440 --> 00:34:16,680 Speaker 2: stuff that keeps people up at night, chape and faith 638 00:34:17,200 --> 00:34:20,200 Speaker 2: recounts or maybe even going to the House of Representatives 639 00:34:20,360 --> 00:34:21,320 Speaker 2: to decide the outcome. 640 00:34:23,360 --> 00:34:26,000 Speaker 11: Look, no matter what happens, I think it's pretty clear 641 00:34:26,040 --> 00:34:28,000 Speaker 11: that it's going to be if it's close, it's going 642 00:34:28,080 --> 00:34:33,160 Speaker 11: to be pretty nasty and problematic, right And it does 643 00:34:33,280 --> 00:34:38,200 Speaker 11: keep me up, and I think both both parties need 644 00:34:38,200 --> 00:34:42,360 Speaker 11: to act, you know, in accordance. This country really isn't 645 00:34:42,520 --> 00:34:47,880 Speaker 11: set up for fifty to fifty type results. It's very difficult, 646 00:34:48,239 --> 00:34:50,799 Speaker 11: particularly in a presidential race as we have seen you 647 00:34:50,840 --> 00:34:53,400 Speaker 11: know pretty much this entire century. 648 00:34:54,920 --> 00:34:58,000 Speaker 4: That you know, a very close race is going to put. 649 00:34:57,880 --> 00:35:02,879 Speaker 11: A put a deep strain on Americans and our institutions 650 00:35:02,880 --> 00:35:06,600 Speaker 11: that are already understrained. You know, the left and the 651 00:35:06,640 --> 00:35:08,680 Speaker 11: right have different ideas of why they're understreamed, but I 652 00:35:08,719 --> 00:35:10,439 Speaker 11: think we can all agree that, you know. 653 00:35:10,360 --> 00:35:12,160 Speaker 4: They are under some stress right now. 654 00:35:12,560 --> 00:35:15,640 Speaker 11: And you know, listen, there's a chance President I don't 655 00:35:15,680 --> 00:35:18,000 Speaker 11: think it's a high chance, but there's a chance President 656 00:35:18,040 --> 00:35:21,320 Speaker 11: Trump is convicted in a criminal court and sentenced to 657 00:35:21,360 --> 00:35:25,279 Speaker 11: prison and still elected to the presidency. So that in 658 00:35:25,320 --> 00:35:29,040 Speaker 11: and of itself is going to be a constitutional crisis 659 00:35:29,080 --> 00:35:30,520 Speaker 11: like we have never experienced that. 660 00:35:30,560 --> 00:35:31,880 Speaker 4: We're laughing, but it. 661 00:35:32,239 --> 00:35:33,120 Speaker 1: Is kind of scary. 662 00:35:33,239 --> 00:35:36,239 Speaker 2: Like you said, this is the mad house we're living 663 00:35:36,280 --> 00:35:38,799 Speaker 2: in right now, Jeannie, with on our minute left, it 664 00:35:38,840 --> 00:35:41,879 Speaker 2: brings us back full circle now to our Bloomberg Swing state, 665 00:35:41,920 --> 00:35:44,759 Speaker 2: Paul yesterday. This is why half the electorate in the 666 00:35:44,800 --> 00:35:47,120 Speaker 2: swing states fears violence around the election. 667 00:35:48,360 --> 00:35:50,959 Speaker 7: That's right. And can you imagine if this thing gets 668 00:35:51,000 --> 00:35:54,080 Speaker 7: thrown to the House. It's one vote per state delegation. 669 00:35:54,640 --> 00:35:57,319 Speaker 7: This is not a House that is controlled by the 670 00:35:57,360 --> 00:36:00,320 Speaker 7: Republicans by more than just a smidgeon at this point. 671 00:36:00,640 --> 00:36:03,919 Speaker 7: So those battles with those state delegation boats alone would 672 00:36:04,000 --> 00:36:07,120 Speaker 7: be you know, enormous. You know, you just can't wrap 673 00:36:07,160 --> 00:36:09,680 Speaker 7: your head around. We feared this in sixteen and twenty. 674 00:36:09,920 --> 00:36:12,759 Speaker 7: It could come to fruition this time. And Joe, I'm 675 00:36:12,800 --> 00:36:15,400 Speaker 7: just gonna say, since I'm on a kick for constitutional 676 00:36:15,480 --> 00:36:19,799 Speaker 7: reform these days, yeah, consider it sectoral college. While I 677 00:36:19,840 --> 00:36:23,160 Speaker 7: try to pack that, Oh my god, I know it's 678 00:36:23,200 --> 00:36:25,480 Speaker 7: not going to happen, but it may be time to 679 00:36:25,480 --> 00:36:28,120 Speaker 7: have a conversation after November. 680 00:36:28,120 --> 00:36:28,680 Speaker 1: What the heck. 681 00:36:29,120 --> 00:36:31,520 Speaker 2: I love it. We have to have this conversation, absolutely, 682 00:36:31,520 --> 00:36:34,239 Speaker 2: and that's why it's great to have Jenny Shanzeno and 683 00:36:34,280 --> 00:36:39,200 Speaker 2: Shape and Fay are great panel today. Thanks for listening 684 00:36:39,280 --> 00:36:42,600 Speaker 2: to the Balance of Power podcast. Make sure to subscribe 685 00:36:42,640 --> 00:36:45,319 Speaker 2: if you haven't already, at Apple, Spotify, or wherever you 686 00:36:45,360 --> 00:36:48,120 Speaker 2: get your podcasts, and you can find us live every 687 00:36:48,160 --> 00:36:51,680 Speaker 2: weekday from Washington, DC at New Time Eastern at Bloomberg 688 00:36:51,760 --> 00:36:52,400 Speaker 2: dot com.