WEBVTT - Bonus Episode: Bloomberg Daybreak

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<v Speaker 1>Hi, It's Carol and Tim's here too, and today we

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<v Speaker 1>want to introduce you to the Bloomberg Daybreak podcast.

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<v Speaker 2>We certainly do every day. Nathan Hager, Karen Moscow, and

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<v Speaker 2>Amy Morris bring you a roundup of the top stories

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<v Speaker 2>from Wall Street to Washington and around the world. It's

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<v Speaker 2>all in the Daybreak podcast feed by six am each morning.

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<v Speaker 1>And today, for our business week audience, we bring you

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<v Speaker 1>a sample of the show. Click the link in this

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<v Speaker 1>description to subscribe to the Bloomberg Daybreak podcast on Apple, Spotify,

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<v Speaker 1>or anywhere you listen.

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<v Speaker 3>Good morning, I'm Nathan Hager.

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<v Speaker 4>And I'm Karen Moscow. Here are the stories we're following today.

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<v Speaker 5>We begin with a guilty verdict for Sam Bankman Free.

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<v Speaker 5>It took a jury less than five hours to convict

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<v Speaker 5>the FTX co founder of seven counts of fraud and conspiracy.

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<v Speaker 5>Bloomberg's June Grossow begins our team coverage.

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<v Speaker 6>It's not a surprise because the evidence against him was overwhelming.

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<v Speaker 7>And think, what did it is? Sam magmcfred took the

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<v Speaker 7>stand in his own defense and when to defend and

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<v Speaker 7>takes down that way the whole thing and the jury's

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<v Speaker 7>mind becomes a credibility game. How incredible did they find him?

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<v Speaker 5>Bloomberg's June Grosso says Sam Bankminfried faces as much as

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<v Speaker 5>twenty years in prison on each of the most serious charges.

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<v Speaker 5>He'll be sentenced in March.

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<v Speaker 4>Well Nathan Bloomberg. The legal reporter Ava Benny Morrison was

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<v Speaker 4>in the courtroom during the verdict, and she continues our

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<v Speaker 4>team coverage.

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<v Speaker 8>He was pretty emotionless. He was asked to stand up

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<v Speaker 8>by the judge. When the jury delivered its verdict, he

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<v Speaker 8>faced the jury box. He held his hands in front

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<v Speaker 8>of him and it looked like he was stearing down

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<v Speaker 8>at the floor as the jury. As the fourth person

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<v Speaker 8>for the jury confirmed guilty to each of the seven charges.

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<v Speaker 8>He then sat back down. When the jury walked out

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<v Speaker 8>of the room. He was whispering with his lawyers. He

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<v Speaker 8>was nodding a lot. While he wasn't very emotional, his

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<v Speaker 8>parents were. They were holding each other. His dad doubled

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<v Speaker 8>over at one point.

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<v Speaker 4>Bloomberg legal reporter Ava Benny Morrison reports Bankman's lawyer is

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<v Speaker 4>considering an appeal.

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<v Speaker 5>Hey Karen Bloomberg. Business Week investigative reporter Zeke Fox wrote

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<v Speaker 5>a book on ftx's crypto rollercoaster, and he says bankmin

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<v Speaker 5>Freed struggled under cross examination.

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<v Speaker 9>When his own lawyer was questioning him, he had a

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<v Speaker 9>lot to say, but when the prosecution had there turned

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<v Speaker 9>a cross examine, he suddenly didn't remember anything. And in

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<v Speaker 9>one moment that was dramatic, I mean, especially for me.

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<v Speaker 9>The prosecutor asked her that she asked him about the

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<v Speaker 9>statement there was more leeway, and he said, I don't

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<v Speaker 9>remember saying anything like that. She whipped out a copy

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<v Speaker 9>of my book, number go up and walked it over

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<v Speaker 9>to him, like the hard copy, and was like turn

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<v Speaker 9>to page two twenty four.

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<v Speaker 5>In Bloomberg Business Week, Zeke Fox ads the conviction is

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<v Speaker 5>the first in a wave of legal action against crypto companies.

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<v Speaker 4>Nathan now to the other major trial happening in New York,

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<v Speaker 4>Donald Trump's two hundred and fifty million dollars Sibyl fraud case.

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<v Speaker 4>The former president's two oldest sons took turns on the

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<v Speaker 4>witness stand, denying any role in preparing their company's financial records. Afterward,

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<v Speaker 4>Donald Trump Junior addressed reporters.

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<v Speaker 10>Before even having a day in court, I'm apparently guilty

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<v Speaker 10>of fraud for relying on my accountants to do wait

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<v Speaker 10>for it, accounting.

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<v Speaker 4>Donald Trump Junior's brother Eric is set to continue testifying today.

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<v Speaker 4>Their sister, Evonka will take the stand next week. She

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<v Speaker 4>lost an appeal to delay her testimony.

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<v Speaker 5>Well, Karen, we now turn to the war in the

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<v Speaker 5>Middle East. Secretary of State Anthony Blinken is back in

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<v Speaker 5>Tel Aviv.

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<v Speaker 11>We're determined that this conflict Nott spread and we'll be

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<v Speaker 11>talking to both the Israeli government partners in the region

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<v Speaker 11>about what all of us are doing to.

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<v Speaker 12>Prevent that from happening.

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<v Speaker 5>I mean Secretary of State b Lincoln's arrival comes as

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<v Speaker 5>ground operations continue in Gaza. The Hamas run Health Ministry

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<v Speaker 5>says more than nine thousand Palestinians have died in the fighting.

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<v Speaker 5>Israel says seventeen of its soldiers have been killed.

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<v Speaker 4>Well, Nathan, the House has passed the Aid for Israel bill,

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<v Speaker 4>but Bloomberg's Ad Baxter reports it may have a troubled future.

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<v Speaker 12>This is a victory for House Speaker Mike Johnson, but

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<v Speaker 12>it looks as if it is dead to become law.

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<v Speaker 12>Senate majority leader Chuck Schumer has been saying taking funding

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<v Speaker 12>from IRS enforcement is a bad idea, and President Biden

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<v Speaker 12>is out saying if it were to hit his desk,

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<v Speaker 12>he would not sign it. House Speaker Johnson says it

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<v Speaker 12>will get done.

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<v Speaker 9>There is absolutely no equivocation here.

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<v Speaker 12>We have to stay with Israel, and Republican Congressman Tom

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<v Speaker 12>Cole says there are different paths to get the aid.

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<v Speaker 11>We have a lot of unspent money.

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<v Speaker 12>We ought to use that toward a more important purpose,

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<v Speaker 12>and that's Israel. So the issue is far from settled.

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<v Speaker 12>Ad Baxter Bloomberg Radio.

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<v Speaker 5>Okay and thank you. Turning the market. Shares of Apple

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<v Speaker 5>are down more than three percent. The world's most valuable

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<v Speaker 5>company reported its fourth straight sales decline and its warning

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<v Speaker 5>holiday revenue will be about the same as last year.

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<v Speaker 5>Angelo Zeno, as senior equity analyst at CFRAA Research, it's.

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<v Speaker 13>Not the most favorable landscape out there four PCs, even

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<v Speaker 13>though the broader PC landscape appears to have found some

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<v Speaker 13>sort of putting for the time being, but at the

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<v Speaker 13>end the day, the consumer landscape is still very challenging in.

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<v Speaker 5>Nature cfar as Angelosino says, the results also suggest Apples

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<v Speaker 5>facing at acceleration in China.

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<v Speaker 4>Well Nathanother stocks on the move this morning, shares of

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<v Speaker 4>DraftKings up seven percent. The sports betting operator reported sales

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<v Speaker 4>and player numbers that beat analysts expectations, Block shares surging

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<v Speaker 4>more than eighteen percent. The Payments Giant run by Jack Dorsey,

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<v Speaker 4>again boosting its profit forecast for the year, and shares

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<v Speaker 4>of Booking dropping as much as seven percent in light trading.

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<v Speaker 4>The company formerly known as Price Lines as travel demand

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<v Speaker 4>had been diminished by the Israel Hamas war.

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<v Speaker 5>On the economic front, Karen a busy week concludes with

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<v Speaker 5>the October Jobs Report. A preview of that now from

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<v Speaker 5>Bloomberg's Michael McKee.

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<v Speaker 14>FED chair J Powell says a tight labor market could

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<v Speaker 14>lead to another rate move, which means markets will parse

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<v Speaker 14>the October jobs report trying to determine what it signals.

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<v Speaker 14>Is hiring still much stronger than what's needed to absorb

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<v Speaker 14>an increasing labor force. Have higher interest rates led companies

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<v Speaker 14>to pull back on hiring or even start letting people go.

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<v Speaker 14>Our company's still paying up to attract workers, while the

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<v Speaker 14>FED we'll also see the November payrolls report before its

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<v Speaker 14>next meeting. Powell says it will take several months of

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<v Speaker 14>data to make any decisions. Michael McKee, Bloomberg Radio.

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<v Speaker 4>All right, Nathan, thank you. It is time now for

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<v Speaker 4>a look at some of the other stories making news

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<v Speaker 4>around the world. And for that we're joined by Bloomberg's

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<v Speaker 4>John Tucker, John, good Morning.

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<v Speaker 15>And Karen. Something maybe rotten in the Big Apple. The

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<v Speaker 15>mayor's fundraising campaign is under investigation. Let's get more on

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<v Speaker 15>this report from Bloomberg's Michael Barr.

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<v Speaker 16>Mayor Adams ditched White House meeting on the migrant crisis

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<v Speaker 16>and flew back to the city. The mayor explaining his

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<v Speaker 16>abrupt return.

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<v Speaker 11>But you probably heard the reports involved in one of

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<v Speaker 11>my campaign staffers.

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<v Speaker 16>Staffer is lead fundraiser, twenty five year old Brianna Suggs,

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<v Speaker 16>whose Brooklyn home was raided by the FBI, along with

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<v Speaker 16>the office series of a New York construction firm called KSK.

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<v Speaker 16>It made fourteen thousand dollars in campaign contributions. The investigation

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<v Speaker 16>is looking into whether the company, along with Turkish nationals,

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<v Speaker 16>made improper donations in New York. Michael Barr, Bloomberg Radio.

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<v Speaker 16>Adams was supposed to be with the mayors of Chicago

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<v Speaker 16>and Denver. It asked Congress to approve President Biden's request

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<v Speaker 16>at one point four billion dollars to help the cities

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<v Speaker 16>and states in the migrant crisis. Denver Mayor Mike Johnston,

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<v Speaker 16>We're both.

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<v Speaker 14>Grateful for what they've done.

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<v Speaker 3>It's critical for us that this package passes over the

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<v Speaker 3>next several weeks to get funding to cities, otherwise we'll

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<v Speaker 3>have catastrophic impacts.

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<v Speaker 15>The Democratic Mayor's trying to put pressure on the Bided

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<v Speaker 15>administration to address the humanitarian crisis caused by record crossings

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<v Speaker 15>at the southern border. Bassena had voted ninety five to

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<v Speaker 15>one to confirm Admiral Linda Franchetti to be the next

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<v Speaker 15>Chief of Naval Operations, making her the first woman to

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<v Speaker 15>be a US military service chief. Set of Majority Leader

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<v Speaker 15>Chuck Schumer.

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<v Speaker 17>And Admiral Fanchette is an exceptional leader with a distinguished

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<v Speaker 17>career serving our nation. I'm confident she has the experience,

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<v Speaker 17>the skills, and the vision to succeed as the US

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<v Speaker 17>Navy's top naval as the US Navy's top officer.

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<v Speaker 15>Friend Shetty's confirmation comes amid a temporary break from a

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<v Speaker 15>blockade by Senator Tommy Tubberville stalling hundreds of military promotions

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<v Speaker 15>riding high on historic contract wins against Detroit's automakers. UAWTY

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<v Speaker 15>president Sean Faine is confident he can now take on

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<v Speaker 15>Tesla and it's Anta Union chief Alon Musk. In an

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<v Speaker 15>interview with Bloomberg yesterday, Fain said, we can beat anybody

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<v Speaker 15>global news twenty four hours a day and whenever you

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<v Speaker 15>want it with Bloomberg News Now. I'm John Tucker and

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<v Speaker 15>this is Bloomberg.

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<v Speaker 5>Karen Right, John.

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<v Speaker 4>Thanks so we bring you news throughout the day here

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<v Speaker 4>on Bloomberg Radio. But now you can get the latest

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<v Speaker 4>news on demand whenever you want it. Subscribe to Bloomberg

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<v Speaker 4>News Now to get the latest headlines at the click

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<v Speaker 4>of a button. Get informed on your schedule. You can

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<v Speaker 4>listen and subscribe to Bloomberg News Now on the Bloomberg

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<v Speaker 4>Business app, Bloomberg dot Com, plus Apples, Spotify, and anywhere

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<v Speaker 4>else you get your podcasts. Time now for the Bloomberg

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<v Speaker 4>Sports Update. Here's John stash Hour John Karen Wick nine.

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<v Speaker 18>In the NFL Underway with an AFC game in Pittsburgh.

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<v Speaker 18>The Steelers and Titans were tied at ten, then at thirteen.

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<v Speaker 16>Pittsburgh trailed in the fourth quarter.

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<v Speaker 11>Ticket in the shotgun gets the snap looks right.

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<v Speaker 16>Theyon Ted Johnson wide open touchdown Pittsburgh. The Steelers bunch

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<v Speaker 16>in ninety two yards. Take dully, that's the Tae Johnson's

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<v Speaker 16>first touchdown and what a couple season does.

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<v Speaker 18>Twenty Games TV had the calls. The Steelers beat the

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<v Speaker 18>Titans twenty to sixteen. Pittsburgh's five and three. Tennessee is

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<v Speaker 18>three and five. In Victor Weberana's fifth NBA game, the

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<v Speaker 18>Spurs rookie Sensations scored thirty eight points. He had ten

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<v Speaker 18>rebounds some highlight reel baskets as the San Antonio Spurs

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<v Speaker 18>blew a twenty seven point lead but still beat Phoenix

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<v Speaker 18>won thirty.

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<v Speaker 16>Two to one twenty one.

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<v Speaker 18>Philadelphia three and one, one by fifteen over Toronto. Joel

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<v Speaker 18>mbid score twenty eight. The Pelicans are four and one.

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<v Speaker 18>They played without Zion Williamson.

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<v Speaker 4>CJ.

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<v Speaker 18>McCollums scored thirty three and win over Detroit. Orlando won

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<v Speaker 18>by two at Utah Paalo Bonkero scored thirty. The games

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<v Speaker 18>tonight in the NBA marked the beginning of the NBA's

0:10:17.080 --> 0:10:20.160
<v Speaker 18>in season tournament. The Bruins are nine to OZHO one.

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<v Speaker 18>They beat Toronto three two in a shootout. Nelson Cruz

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<v Speaker 18>announced his retirement at age forty three. Played nineteen seasons

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<v Speaker 18>for eight different teams at four hundred and sixty four

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<v Speaker 18>home runs as expected World Series ratings, the lowest ever

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<v Speaker 18>one hundred and thirty baseball players will be free agents.

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<v Speaker 18>Heading the list show Ao Time, John Stanshaur Bloomberg Sports.

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<v Speaker 11>From coast to coast, from New York to San Francisco,

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<v Speaker 11>Boston to Washington, DC, nationwide on SIRISXAM, the Bloomberg Business

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<v Speaker 11>Appen Bloomberg dot Com. This is Bloomberg Daybreak.

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<v Speaker 5>Good morning. I'm Nathan Hager. Guilty on all counts after

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<v Speaker 5>a month long trial, Sam Bankman Freed is convicted in

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<v Speaker 5>one of the biggest cases of financial fraud in decades

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<v Speaker 5>over the collapse of his FTX crypto empire. For more

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<v Speaker 5>reaction to this outcome, we are joined now by Bloomberg

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<v Speaker 5>Law host June Grosso. It's good to have you back

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<v Speaker 5>with us this morning. Of course, this came after more

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<v Speaker 5>than fifteen days of testimony that this jury heard. In

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<v Speaker 5>the end, though it did take only about five hours

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<v Speaker 5>for those jurors to come back with a verdict. Your thoughts.

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<v Speaker 6>Yeah, it was a very quick verdict. I think that

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<v Speaker 6>the evidence in this case was overwhelming. The prosecution had

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<v Speaker 6>not only documents that they could present, but they also

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<v Speaker 6>had three insiders, three witnesses who were close friends of

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<v Speaker 6>Sam Bankman Freed, one a former girlfriend of his, who

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<v Speaker 6>were in on the process, in on what happened, and

0:11:57.840 --> 0:12:02.720
<v Speaker 6>they testified and their testimony was very, you know, conclusive,

0:12:03.240 --> 0:12:07.839
<v Speaker 6>and the cross examinations really didn't expose many holds in

0:12:07.920 --> 0:12:11.319
<v Speaker 6>their testimony. And you also had the fact that Sam

0:12:11.400 --> 0:12:14.760
<v Speaker 6>Bankman Freed took the stand, and when a defendant takes

0:12:14.840 --> 0:12:18.240
<v Speaker 6>the stand, the focus for the jury then becomes the

0:12:18.320 --> 0:12:22.760
<v Speaker 6>credibility of that defendant. And while he did pretty well

0:12:22.840 --> 0:12:27.600
<v Speaker 6>on direct examination, on cross examination, the cross examination was

0:12:27.800 --> 0:12:32.200
<v Speaker 6>just withering and he said I don't know or words

0:12:32.240 --> 0:12:35.440
<v Speaker 6>to that effect more than a hundred times. So I

0:12:35.559 --> 0:12:39.800
<v Speaker 6>think that in this case, he's taking the stand, which

0:12:39.880 --> 0:12:42.560
<v Speaker 6>was a risky move. Everyone knows that it's a risky

0:12:42.600 --> 0:12:44.960
<v Speaker 6>move for a defendant to take the stand, and it

0:12:45.040 --> 0:12:45.959
<v Speaker 6>worked against him.

0:12:46.000 --> 0:12:50.600
<v Speaker 5>Here, was that the biggest mistake that Sam Bankman Freed

0:12:50.720 --> 0:12:54.640
<v Speaker 5>made to take the stand, or is there something more

0:12:54.679 --> 0:12:57.000
<v Speaker 5>that he could have done to try to rebut that

0:12:57.080 --> 0:13:00.200
<v Speaker 5>testimony from as you say, what used to be his

0:13:00.280 --> 0:13:01.760
<v Speaker 5>closest friends, his inner circle.

0:13:02.720 --> 0:13:05.040
<v Speaker 6>Well, you know, it's hard to say. I don't want

0:13:05.040 --> 0:13:08.200
<v Speaker 6>to characterize it as a mistake really because I don't

0:13:08.240 --> 0:13:11.800
<v Speaker 6>know that he had any other choice. The evidence against him,

0:13:11.840 --> 0:13:15.560
<v Speaker 6>as I said, was building, building, building. He had those

0:13:15.720 --> 0:13:20.320
<v Speaker 6>those witnesses who turned against him, and really, what else

0:13:20.360 --> 0:13:22.959
<v Speaker 6>could he have done but take the stand. He really

0:13:23.000 --> 0:13:26.320
<v Speaker 6>had no other recourse. It was sort of forced on

0:13:26.400 --> 0:13:29.200
<v Speaker 6>him as the trial was going on, the question will

0:13:29.240 --> 0:13:32.920
<v Speaker 6>he take the stand or not? And the analysis was, well,

0:13:33.160 --> 0:13:36.000
<v Speaker 6>he has the kind of personality to want to take

0:13:36.040 --> 0:13:37.840
<v Speaker 6>the stand. I mean, look at all the times he's

0:13:37.920 --> 0:13:41.880
<v Speaker 6>talked in the media. But everyone knew that on cross

0:13:41.920 --> 0:13:45.800
<v Speaker 6>examination he was going to be confronted with not only

0:13:45.840 --> 0:13:50.000
<v Speaker 6>the testimony of the three people who were closest to

0:13:50.080 --> 0:13:54.160
<v Speaker 6>him at FTX and Alimeter Research who turned on him,

0:13:54.520 --> 0:13:58.280
<v Speaker 6>but also all the statements that he made, all the

0:13:58.320 --> 0:14:03.680
<v Speaker 6>times he talked to the media about FTX after the bankruptcy.

0:14:04.240 --> 0:14:07.320
<v Speaker 6>So but what else could he do? It was it

0:14:07.360 --> 0:14:10.640
<v Speaker 6>was a hail Mary pass and he took it. But

0:14:11.000 --> 0:14:14.960
<v Speaker 6>you know, the choice was really there wasn't really wasn't

0:14:15.040 --> 0:14:18.920
<v Speaker 6>much choice because it was so overwhelming at that point that,

0:14:19.520 --> 0:14:21.040
<v Speaker 6>you know, he had to take the chance.

0:14:22.000 --> 0:14:24.960
<v Speaker 5>And there was, as you mentioned, so much overwhelming testimony

0:14:25.320 --> 0:14:29.280
<v Speaker 5>against him before he took the standard. Even before that testimony,

0:14:29.320 --> 0:14:33.119
<v Speaker 5>I mean, he lost a number of pre trial motions

0:14:33.160 --> 0:14:35.680
<v Speaker 5>that kept him from calling expert witnesses. And of course

0:14:35.760 --> 0:14:38.200
<v Speaker 5>there was that moment even before he was allowed to

0:14:38.240 --> 0:14:41.280
<v Speaker 5>testify before a jury, where he got on the stand

0:14:41.320 --> 0:14:44.560
<v Speaker 5>in front of the judge to argue for being allowed

0:14:44.600 --> 0:14:47.280
<v Speaker 5>to testify about advice from his lawyers. So I mean

0:14:47.320 --> 0:14:49.520
<v Speaker 5>he had a number of hands tied behind his back,

0:14:49.560 --> 0:14:50.640
<v Speaker 5>didn't he.

0:14:50.800 --> 0:14:54.360
<v Speaker 6>Yeah, I think, you know, so many of the motions,

0:14:54.400 --> 0:14:57.400
<v Speaker 6>every big one that I can think of, the judge

0:14:57.480 --> 0:15:00.480
<v Speaker 6>ruled against him, and in particular, he was on the

0:15:00.480 --> 0:15:05.840
<v Speaker 6>stands you mentioned about three hours testifying before the judge,

0:15:06.760 --> 0:15:09.320
<v Speaker 6>so the judge could decide whether or not he could

0:15:09.520 --> 0:15:12.320
<v Speaker 6>get used an advice of council defense, and that was

0:15:12.360 --> 0:15:15.960
<v Speaker 6>really critical to his defense his lawyers, and he wanted

0:15:15.960 --> 0:15:18.920
<v Speaker 6>to say that what he did he did because he

0:15:19.040 --> 0:15:21.840
<v Speaker 6>was relying on the advice of his attorneys, and the

0:15:21.960 --> 0:15:24.160
<v Speaker 6>judge said that he could not do that. I mean,

0:15:24.200 --> 0:15:27.880
<v Speaker 6>the judge even ruled before trial that they couldn't use that,

0:15:27.920 --> 0:15:31.200
<v Speaker 6>they couldn't talk about that in their opening statements to

0:15:31.280 --> 0:15:34.720
<v Speaker 6>the jury. And then then he had those three hours

0:15:34.760 --> 0:15:38.480
<v Speaker 6>on the stands where the judge decided that he couldn't

0:15:38.560 --> 0:15:40.800
<v Speaker 6>use that and he couldn't talk about that in front

0:15:40.800 --> 0:15:42.960
<v Speaker 6>of the jury, and that was really a hit on

0:15:43.080 --> 0:15:46.000
<v Speaker 6>his defense. And if you go back, I mean even

0:15:46.080 --> 0:15:49.280
<v Speaker 6>before the trial, the judge, as you mentioned, said that

0:15:49.320 --> 0:15:53.040
<v Speaker 6>he couldn't use expert witnesses. And the judge threw him

0:15:53.040 --> 0:15:57.480
<v Speaker 6>into jail after he had communicated with the press, and

0:15:58.040 --> 0:16:00.240
<v Speaker 6>that was really a surprise too, because he had had

0:16:00.280 --> 0:16:04.480
<v Speaker 6>a huge bail package and the defense was coming in

0:16:04.640 --> 0:16:08.600
<v Speaker 6>to agree that day to a gag order. Instead the

0:16:08.720 --> 0:16:11.280
<v Speaker 6>judge decided that he was going to throw him into

0:16:11.360 --> 0:16:14.280
<v Speaker 6>jail weeks before the trial, and that really puts a

0:16:14.320 --> 0:16:18.360
<v Speaker 6>strain on the defense in more ways than one. I mean,

0:16:18.400 --> 0:16:22.640
<v Speaker 6>not only did he not have his adderall when he

0:16:22.720 --> 0:16:24.680
<v Speaker 6>was in jail, not have the right dose of it,

0:16:25.000 --> 0:16:27.560
<v Speaker 6>but he's a vegan and he didn't get the kind

0:16:27.560 --> 0:16:30.920
<v Speaker 6>of food he eats. He didn't get the kind of

0:16:31.320 --> 0:16:35.760
<v Speaker 6>foods at the Brooklyn Detention Center. So everyone saw that

0:16:35.840 --> 0:16:37.760
<v Speaker 6>he lost a lot of weight when it came to

0:16:37.800 --> 0:16:40.760
<v Speaker 6>the courtroom. But more than that, it's very difficult to

0:16:40.800 --> 0:16:44.880
<v Speaker 6>prepare for trial when you're behind bars and your lawyer

0:16:44.960 --> 0:16:47.840
<v Speaker 6>has to make appointments to meet you, and you don't

0:16:47.840 --> 0:16:52.080
<v Speaker 6>have access to all the documents and the internet and

0:16:52.080 --> 0:16:55.000
<v Speaker 6>the things you need. So it really was an uphill

0:16:55.040 --> 0:16:57.240
<v Speaker 6>battle for him from the very beginning.

0:16:58.320 --> 0:17:00.440
<v Speaker 5>And so we've had this uphill battle go on for

0:17:00.600 --> 0:17:04.840
<v Speaker 5>just about a month. After a relatively quick jury decision,

0:17:05.440 --> 0:17:09.000
<v Speaker 5>we are expecting that Sam Bankminfried and his lawyers are

0:17:09.040 --> 0:17:11.639
<v Speaker 5>going to appeal this verdict. How do you expect that

0:17:11.760 --> 0:17:12.080
<v Speaker 5>to go.

0:17:12.160 --> 0:17:16.040
<v Speaker 6>Now, Well, you know, they have a lot of issues

0:17:16.320 --> 0:17:18.320
<v Speaker 6>that they can appeal on, and they're the ones that

0:17:18.359 --> 0:17:21.760
<v Speaker 6>I was just talking about the judge turning down the

0:17:21.800 --> 0:17:26.080
<v Speaker 6>advice of counsel and the expert witnesses, and I'm sure

0:17:26.080 --> 0:17:29.000
<v Speaker 6>they have a lot more from what happened at trial,

0:17:29.119 --> 0:17:33.800
<v Speaker 6>but it's it's very difficult to get a conviction reversed

0:17:33.840 --> 0:17:37.760
<v Speaker 6>on appeal. It happens, but it's very difficult because a

0:17:37.800 --> 0:17:41.280
<v Speaker 6>lot of these decisions are what they say, you know,

0:17:41.400 --> 0:17:44.480
<v Speaker 6>in the discretion of the judge, and the appellate court

0:17:45.040 --> 0:17:47.520
<v Speaker 6>won't touch a lot of a lot of these decisions

0:17:47.520 --> 0:17:49.600
<v Speaker 6>if they feel that it was in the discretion of

0:17:49.640 --> 0:17:53.680
<v Speaker 6>the judge and that these may all fit in that category.

0:17:54.200 --> 0:17:56.880
<v Speaker 6>So you know they will. They do have a lot

0:17:56.960 --> 0:17:59.200
<v Speaker 6>to talk about, They do have a lot to raise

0:17:59.240 --> 0:18:06.160
<v Speaker 6>on appeal, but you know it's another uphill battle for him.

0:18:06.200 --> 0:18:09.280
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