WEBVTT - Bloomberg Radio Special: A 2020 Election Update 0:00:00.400 --> 0:00:02.960 We have no doubt and when the counts finished, Senator 0:00:03.040 --> 0:00:05.160 Harris and I will be declared the winners. We think 0:00:05.160 --> 0:00:07.480 it's going to be a lot of litigation because we 0:00:07.560 --> 0:00:10.440 have so much evidence, so much proof. I ask everyone 0:00:10.480 --> 0:00:13.240 to stay calm. The process is working. It's going to 0:00:13.360 --> 0:00:15.960 end up perhaps at the highest court in the land. 0:00:16.280 --> 0:00:20.880 This is special coverage of the election from Bloomberg Radio, 0:00:21.520 --> 0:00:24.560 and this is a Bloomberg day Break special report. I'm 0:00:24.640 --> 0:00:28.480 Nathan Hagar, I'm Amy Morris. The votes are still being counted, 0:00:28.680 --> 0:00:31.720 legal challenges remain, but the path to the White House 0:00:31.880 --> 0:00:35.040 is there for Joe Biden. Coming up over the next hour, 0:00:35.159 --> 0:00:38.040 we examine the vote, the legal battle, and the path 0:00:38.120 --> 0:00:40.800 ahead for a White House policy, plus how the next 0:00:40.800 --> 0:00:43.159 steps could play out in the days and weeks to 0:00:43.280 --> 0:00:46.519 come leading up to December's electoral College vote. That is 0:00:46.560 --> 0:00:49.680 all straight ahead for now. Let's bring in Derek Wallbank, 0:00:49.760 --> 0:00:54.400 Bloomberg's senior editor for breaking news. And Derek, of course, 0:00:54.480 --> 0:00:58.800 the Biden team was hoping the news would break last night, 0:00:59.000 --> 0:01:01.760 that they'd get to that magic number of two seventy. 0:01:02.320 --> 0:01:05.800 What are the chances we see that news actually break 0:01:05.920 --> 0:01:09.520 this weekend? Well, Nathan, I think that the chances of 0:01:09.560 --> 0:01:13.720 getting a real sign of of where this is actually 0:01:13.800 --> 0:01:17.920 going this weekend are actually fairly good. Um, you were 0:01:18.000 --> 0:01:21.640 looking now overnight as you wake up in America. The 0:01:21.720 --> 0:01:24.760 thing to know is that everything kind of kept pushing 0:01:24.800 --> 0:01:28.240 the same direction that it was going. In Pennsylvania, you 0:01:28.280 --> 0:01:32.240 saw the Biden lead expand again a little bit. It 0:01:32.319 --> 0:01:37.120 expanded again in Georgia a little bit. In Arizona narrowed 0:01:37.160 --> 0:01:40.840 a little bit, but not by enough that Donald Trump 0:01:40.880 --> 0:01:43.480 needs to go and take over that state. So you 0:01:43.640 --> 0:01:47.400 still see as as America wakes up today, Joe Biden 0:01:47.520 --> 0:01:51.480 sort of standing on the precipice of victory with any 0:01:51.680 --> 0:01:56.120 one of a couple of states possibly putting him over Derek. 0:01:56.240 --> 0:01:59.200 The Trump campaign has already said it would pursue all 0:01:59.360 --> 0:02:02.440 legal path in a vote fight. So catch us up 0:02:02.480 --> 0:02:05.400 if you could about how many more paths the president 0:02:05.480 --> 0:02:09.440 might have. Well, in terms of the legal challenges, you 0:02:09.520 --> 0:02:12.600 are seeing a lot of things start to be filed 0:02:12.680 --> 0:02:17.040 or threatened or or somehow previewed. Um And and it 0:02:17.240 --> 0:02:20.720 kind of is. It's every single state. There's something going 0:02:20.800 --> 0:02:24.400 on to various levels of severity. I think the biggest 0:02:24.440 --> 0:02:27.240 one probably and where where a lot of the focuses 0:02:27.440 --> 0:02:32.160 is in Pennsylvania, where um, the Supreme Court has gotten 0:02:32.200 --> 0:02:34.680 a little bit involved to say that some of these 0:02:35.200 --> 0:02:38.760 uh late arriving ballots need to be kind of put 0:02:38.800 --> 0:02:41.480 to the side. And that was a fight that we 0:02:41.560 --> 0:02:45.200 knew was coming, we we knew would be there. But Amy, 0:02:45.240 --> 0:02:47.800 one of the things that I noticed here is it 0:02:47.919 --> 0:02:52.160 might be a fight that's actually numerically irrelevant. And what 0:02:52.200 --> 0:02:54.960 I mean by that is it's very, very possible that 0:02:55.000 --> 0:02:58.600 when Pennsylvania stops counting all of the votes that everyone 0:02:58.639 --> 0:03:03.640 agrees are regularly cast um, that the Biden margin is 0:03:03.760 --> 0:03:07.440 so large there that the total votes in question in 0:03:07.440 --> 0:03:12.040 this in this dispute, um will be will be less 0:03:12.040 --> 0:03:14.320 than the Biden margin, and in which case it wouldn't 0:03:14.360 --> 0:03:17.480 change the outcome. So that's when I think we're following, 0:03:17.480 --> 0:03:21.000 though in Pennsylvania were definitely following that. UM. I think 0:03:21.040 --> 0:03:23.359 that both sides are kind of agreed on the idea 0:03:23.440 --> 0:03:27.080 that every vote should count, but Republicans are trying to 0:03:27.160 --> 0:03:30.840 make a distinction to say every legal vote should count, 0:03:31.400 --> 0:03:35.360 and then they're making some different definitions of the word legal. 0:03:35.680 --> 0:03:38.120 But in practice, I think I would sum up by 0:03:38.160 --> 0:03:42.200 saying that Biden right now is on track for a 0:03:42.400 --> 0:03:46.680 victory that would be large enough to offset any of 0:03:46.680 --> 0:03:51.880 these potential challenges that we have seen seriously filed. Assuming 0:03:51.960 --> 0:03:55.280 numbers continue trending where they are, it does seem, Derek 0:03:55.360 --> 0:03:59.920 as though Pennsylvania could very well be the decisive stay 0:04:00.280 --> 0:04:03.640 as we do the math up to to seventy. But 0:04:03.680 --> 0:04:06.280 we also know that there is probably going to be 0:04:06.360 --> 0:04:10.040 a recount in Wisconsin. The margin is uh slim enough 0:04:10.120 --> 0:04:13.760 there that it could trigger a recount should the Trump 0:04:13.800 --> 0:04:17.360 campaign ask for one. And Georgia's secretary of state has 0:04:17.400 --> 0:04:21.480 already said that the margin is so tight they're at 0:04:21.920 --> 0:04:25.599 current count only about four thousand votes. There's definitely going 0:04:25.640 --> 0:04:30.599 to be a recount. How could that sway things? Well, yeah, Nathan, 0:04:30.640 --> 0:04:34.200 And and in Georgia, the overnight numbers are are ticked 0:04:34.240 --> 0:04:36.839 up enough that when the AP updates it's totals, you'll 0:04:36.839 --> 0:04:39.400 see that rise to about seven thousand for Biden, but 0:04:39.480 --> 0:04:43.080 still well within that recount territory. UM. I do think 0:04:43.120 --> 0:04:45.760 that that is a thing that's definitely in play. If 0:04:45.800 --> 0:04:49.040 there's a recount. You're unlikely to see the AP call 0:04:49.200 --> 0:04:52.480 one of those states because they tend not to do that, 0:04:53.080 --> 0:04:56.200 uh in Pennsylvania. This is the one. This is the 0:04:56.200 --> 0:04:59.640 one that I think we're all watching very very closely. There. 0:05:00.279 --> 0:05:02.280 I'll give you a little bit of math that I 0:05:02.320 --> 0:05:06.640 did during my day uh here overnight, which is which 0:05:06.680 --> 0:05:12.039 is to say that under Pennsylvania rules, um, if the 0:05:12.080 --> 0:05:15.560 margin is within point five of a percent, then you 0:05:15.600 --> 0:05:17.840 can get to a recount. If it's above that, you 0:05:17.880 --> 0:05:20.080 don't necessarily have to have that. So what does that 0:05:20.120 --> 0:05:23.600 mean in raw votes? Somewhere in the ballpark of forty 0:05:23.720 --> 0:05:28.560 thousand votes as a margin between Biden and Trump, and 0:05:28.640 --> 0:05:31.520 right now it's in the upper twenty thousands. So it's 0:05:31.560 --> 0:05:33.920 a reachable thing for Biden to be able to get 0:05:33.920 --> 0:05:38.240 to a recount proof uh majority in the in the 0:05:38.240 --> 0:05:42.240 Commonwealth of Pennsylvania. And if that happens, that helps there. 0:05:42.320 --> 0:05:45.520 The other things that we're watching really really early, I 0:05:45.560 --> 0:05:49.080 think in the day are that Nevada and Arizona should 0:05:49.120 --> 0:05:52.880 have some additional numbers for us and those if those 0:05:52.960 --> 0:05:55.480 put the counts in both of those states to bed, 0:05:55.880 --> 0:06:00.599 then Pennsylvania is academic Derek Wallbank. We have quite a 0:06:00.640 --> 0:06:05.160 lot to watch in the hours and potentially days to 0:06:05.279 --> 0:06:08.479 come in these battleground states. It's just amazing to think 0:06:08.520 --> 0:06:13.200 that so many battlegrounds remain in flux this far after 0:06:13.320 --> 0:06:16.200 election day. But we knew with a pandemic on it 0:06:16.400 --> 0:06:18.920 very well could have been like this. Derek Wallbank, Bloomberg 0:06:19.000 --> 0:06:20.920 Senior editor for Breaking News, Thanks so much for being 0:06:21.000 --> 0:06:25.279 with us this morning on this special edition of Bloomberg Daybreak. 0:06:25.320 --> 0:06:29.600 I'm Nathan Hager alongside Amy Morris, and this is Bloomberg. 0:06:32.920 --> 0:06:37.520 This is special coverage of the twenty election from Bloomberg Radio. 0:06:38.160 --> 0:06:40.520 And this is a Bloomberg Daybreak special report. It is 0:06:40.560 --> 0:06:44.640 seven seventeen on Wall Street. I'm Nathan Hager, I'm Amy Morris. 0:06:44.680 --> 0:06:47.800 The votes are still being counted, Legal challenges remain, but 0:06:47.880 --> 0:06:50.480 the path to the White House is there for Joe Biden. 0:06:50.880 --> 0:06:53.520 Let's bring in Kevin's really now. Kevin is the chief 0:06:53.560 --> 0:06:58.040 Washington correspondent for Bloomberg Radio and Television. Kevin, good morning 0:06:58.080 --> 0:07:00.480 to you. Let's get caught up on what we may 0:07:00.520 --> 0:07:05.200 have missed overnight. Joe Biden remains ahead in four key states, 0:07:05.360 --> 0:07:09.720 ballots still being counted as we speak. President Trump continues 0:07:09.760 --> 0:07:12.760 to push the idea of stopping the count that there 0:07:12.800 --> 0:07:16.160 are some conspiracy theories surrounding this election. Where are we 0:07:16.280 --> 0:07:19.800 right now? Good morning, Amy. Last night, Joe Biden speaking 0:07:19.840 --> 0:07:24.360 from Wilmington, Delaware, delivering what largely what he was his 0:07:24.400 --> 0:07:27.360 team was hoping would be an acceptance speech or a 0:07:27.400 --> 0:07:31.840 declaratory speech of sorts. It turned into another speech urging 0:07:31.920 --> 0:07:34.960 patience and calm, But he went on to say that 0:07:35.080 --> 0:07:38.120 he is going to make sure that every vote is counted. 0:07:38.480 --> 0:07:41.280 He also said that he believes he will win in 0:07:41.280 --> 0:07:44.600 the battleground states of Georgia as well as Arizona, and 0:07:44.640 --> 0:07:46.200 if he were to do that, Amy, he would be 0:07:46.240 --> 0:07:51.400 the first Democratic candidate to do so since Bill Clinton. Meanwhile, 0:07:51.560 --> 0:07:54.720 the Trump campaign, they're saying that they're willing to take 0:07:54.760 --> 0:07:57.120 this all the way to the Supreme Court if they 0:07:57.320 --> 0:08:00.360 if they want to. But behind the scenes, yes your day, 0:08:00.600 --> 0:08:04.000 when I spoke with Republican members of Congress, they were 0:08:04.120 --> 0:08:08.360 the President was met with a deep source of skepticism 0:08:08.400 --> 0:08:12.120 about what the strategy is and how long the President 0:08:12.200 --> 0:08:15.480 was willing to continue onward with this approach. Well, in 0:08:15.520 --> 0:08:19.320 the meantime, as the president pursues this approach, Kevin, we 0:08:19.400 --> 0:08:25.080 do have this very slow, protracted counting of mail in 0:08:25.280 --> 0:08:29.080 votes that many of these states hadn't been equipped to 0:08:29.120 --> 0:08:31.760 deal with up until now. Give us a sense of 0:08:31.800 --> 0:08:34.720 where we are in terms of where the count is 0:08:35.240 --> 0:08:39.079 in some of these battleground states, particularly Georgia, where the 0:08:39.760 --> 0:08:43.040 where the margin is so razor thin right now, precisely 0:08:43.160 --> 0:08:47.240 so Georgia, it's a it's it's incredibly a razor thin margin, 0:08:47.640 --> 0:08:50.080 and it's it's something like less than a percentage point 0:08:50.080 --> 0:08:52.720 according to some counts. But they're headed for a recount, 0:08:52.880 --> 0:08:57.000 and recounts typically take at least several days. And that 0:08:57.160 --> 0:09:02.040 is a very optimistic estimate. Uh, it can take several weeks, 0:09:02.440 --> 0:09:05.240 and so we could be in mid November by the 0:09:05.280 --> 0:09:10.800 time Georgia gets gets a result. Uh. In terms of Nevada, 0:09:10.920 --> 0:09:15.720 UH that we're anticipating new vote counts from Clark County 0:09:16.200 --> 0:09:18.480 of course, that's where Las Vegas is. We're anticipating new 0:09:18.559 --> 0:09:22.640 vote counts sometime Nathan, within the next couple of hours 0:09:22.640 --> 0:09:25.600 and throughout the weekend. And then in Pennsylvania where Joe 0:09:25.640 --> 0:09:29.720 Biden yesterday surpassed President Trump in the vote total. Uh, 0:09:29.760 --> 0:09:33.840 they're waiting for military absentee ballots and they're continuing to 0:09:33.960 --> 0:09:36.839 count as well. To be frank with you, the Biden 0:09:36.920 --> 0:09:40.120 campaign had wanted there to be one more state called 0:09:40.480 --> 0:09:43.480 before he spoke at Wilmington, Delaware last night. He was 0:09:43.520 --> 0:09:45.679 gonna speak at like seven o'clock at night. And then 0:09:45.760 --> 0:09:48.080 I checked in with the source on the campaign and 0:09:48.120 --> 0:09:50.560 what they told me was, well, they're still, you know, 0:09:50.600 --> 0:09:54.000 they're waiting and optimistic that when he spoke, he would 0:09:54.000 --> 0:09:56.160 get to that magic number, or at least one of 0:09:56.200 --> 0:09:58.920 the networks or ap would have put him at to seventy. 0:09:58.960 --> 0:10:02.319 But that just didn't have in and you know, and 0:10:02.400 --> 0:10:06.800 now it's becoming a situation where you very much could 0:10:06.800 --> 0:10:12.480 have someone declaring at to seventy uh, Joe Biden saying, 0:10:13.000 --> 0:10:17.160 you know, thank you, I'm we're looking forward to being president, 0:10:17.280 --> 0:10:21.920 and President Trump not conceding. Let's talk about the mood, Kevin. 0:10:22.000 --> 0:10:24.120 You've talked to operatives on both sides at the aisle, 0:10:24.120 --> 0:10:26.880 Trump supporters and Biden supporters. Have you been able to 0:10:26.920 --> 0:10:29.640 gauge the mood, the sense of optimism or the sense 0:10:29.679 --> 0:10:33.480 of determination. What's the temperature now? As I mentioned yesterday, 0:10:33.480 --> 0:10:36.360 I spoke with several Republican members of Congress and and 0:10:36.400 --> 0:10:41.800 they actually had a a a call with the Republican 0:10:41.880 --> 0:10:45.600 Conference yesterday uh in in what would have been on 0:10:45.640 --> 0:10:49.079 Capital Hill. But this obviously because of covid on via telephone, 0:10:49.480 --> 0:10:53.280 and there's a sense amy of, well, we we made 0:10:53.320 --> 0:10:55.800 gains in the House of Representatives and we're still competitive 0:10:55.840 --> 0:10:58.280 in the Senate and when everyone was predicting a blue wave. 0:10:58.760 --> 0:11:01.680 But at terms of the press residential level, I would 0:11:01.960 --> 0:11:06.600 say that while publicly you're hearing potential candidates like Senator 0:11:06.640 --> 0:11:11.360 Ted Cruz, Tom Cotton and others deliver statements saying every 0:11:11.480 --> 0:11:15.640 legal vote must be counted, what you're not seeing is 0:11:16.040 --> 0:11:19.760 a rush to a campaign war room or a legal barroom. 0:11:20.120 --> 0:11:23.160 And that's where there's a lot of division. The president's 0:11:23.160 --> 0:11:26.240 inner circle, his members of his family, they are in 0:11:26.320 --> 0:11:29.240 contact very much and in some cases on the ground 0:11:29.640 --> 0:11:33.319 in these battleground states. The president's personal attorney, Rudy Giuliani, 0:11:33.920 --> 0:11:37.120 still very much briefing the president, talking to the President 0:11:37.679 --> 0:11:43.400 about what's going on. But again, they it they don't 0:11:43.480 --> 0:11:50.640 appear to necessarily have the entire Republican Party fullheartedly behind them, um. 0:11:50.720 --> 0:11:54.360 And that's a that's a marked difference from other fights 0:11:54.400 --> 0:11:57.400 that the president has been in, including impeachment and Mueller 0:11:57.480 --> 0:12:00.840 and all that. And in terms of the legal strategy 0:12:00.920 --> 0:12:05.199 that the President's team is pursuing Kevin. During the campaign, 0:12:05.840 --> 0:12:08.560 we've been talking about how there had been such a 0:12:08.679 --> 0:12:14.200 cash drain on the Trump side. Is there enough resources 0:12:14.360 --> 0:12:17.280 for the President's side to mount the kind of multi 0:12:17.360 --> 0:12:21.720 pronged legal fight that they're hinting at that they want. Well, 0:12:21.800 --> 0:12:25.040 they have said that there is, and that that their 0:12:25.080 --> 0:12:27.880 attorneys are are willing to file, you know, a state 0:12:27.880 --> 0:12:30.640 by state claims and and they ultimately do feel that 0:12:30.679 --> 0:12:33.160 if it should end up in the Supreme Court, that 0:12:33.200 --> 0:12:36.760 it would be in their favor, you know. But it's 0:12:36.800 --> 0:12:40.400 it's difficult to talk about the multi state legal approach, Nathan, 0:12:40.440 --> 0:12:43.000 as you and I have talked about before, because we 0:12:43.040 --> 0:12:45.760 don't have any source material in front of us, and 0:12:45.760 --> 0:12:49.080 we and we there have not been briefings in the 0:12:49.240 --> 0:12:52.480 sense typically with with this type of situation, you would 0:12:52.520 --> 0:12:56.800 anticipate round the clock briefings and updates coming from the 0:12:56.840 --> 0:13:00.600 President's re election campaign, and that just hasn't really started yet. 0:13:01.360 --> 0:13:04.040 But it's unknown if they're working on that now. We 0:13:04.120 --> 0:13:07.040 got reports yesterday Maggie Haberman at The New York Times 0:13:07.040 --> 0:13:10.440 reporting that David Bossey had been hired to be a 0:13:10.559 --> 0:13:13.719 lead figure on the legal fights by the president's re 0:13:13.800 --> 0:13:16.360 election campaign. He had fallen out a favor at one 0:13:16.400 --> 0:13:20.240 time with the President. Now apparently he's back in based 0:13:20.280 --> 0:13:24.240 upon those developments. But that's what's going on on that side. 0:13:24.559 --> 0:13:28.800 On Joe Biden's side, they are continuing to have meetings 0:13:28.800 --> 0:13:32.079 about COVID nineteen updates. I can tell you I've spoken 0:13:32.120 --> 0:13:36.480 directly with sources who are connected to his transition team. 0:13:36.800 --> 0:13:42.320 They're having transition meetings. Yesterday, Uh, dal Jones reported that 0:13:42.400 --> 0:13:45.840 Gary Gensler is going to be in a Biden administration, 0:13:45.880 --> 0:13:51.000 the Wall Street oversight advisor. Uh So they're they're continuing 0:13:51.080 --> 0:13:55.920 onward in terms of a transition. But it's interesting because 0:13:55.960 --> 0:13:58.560 they also have to be careful because he still hasn't 0:13:58.559 --> 0:14:01.040 reached two seventy and we got a lot more to 0:14:01.080 --> 0:14:05.079 come as we continue to dive into the legal challenges 0:14:05.200 --> 0:14:08.280 and just the simple vote count itself. As Uh, this 0:14:08.360 --> 0:14:11.920 election certainly has gone into much more than overtime now. 0:14:12.040 --> 0:14:15.439 Kevin Cirelli, Chief Washington correspondent for Bloomberg Radio and Television, 0:14:15.920 --> 0:14:17.720 Thanks for being with us this morning. We're gonna be 0:14:17.760 --> 0:14:21.600 checking back with you throughout this special edition of Bloomberg 0:14:21.720 --> 0:14:25.600 Daybreak on the election process. Coming up, we'll have more 0:14:25.600 --> 0:14:27.760 on the vote, the legal battle, and the path ahead 0:14:27.840 --> 0:14:31.160 for White House policy straight ahead on this Bloomberg Daybreak 0:14:31.200 --> 0:14:35.040 special report. I'm Nathan Hager alongside Amy Morris, and this 0:14:35.480 --> 0:14:41.320 is Bloomberg. This is special coverage of the twenty election 0:14:41.640 --> 0:14:44.960 from Bloomberg Radio. And this is a Bloomberg day Break 0:14:45.000 --> 0:14:48.080 special report. I'm Nathan Hager, I'm Amy Morris. The votes 0:14:48.120 --> 0:14:50.360 are still being counted, but the path to the White 0:14:50.360 --> 0:14:53.760 House is there for Joe Biden. Coming up, we'll look 0:14:53.800 --> 0:14:57.720 at the future of policy at Pennsylvania Avenue. Let's bring 0:14:57.760 --> 0:15:00.440 in Greg Valiate now. He is the chief US policy 0:15:00.480 --> 0:15:04.160 strategist at a g F Investments. Greg, good morning, do 0:15:04.200 --> 0:15:06.160 you always a pleasure to have You want to pick 0:15:06.200 --> 0:15:09.080 your brain a little bit this morning about Joe Biden. 0:15:09.520 --> 0:15:11.560 We know he has a slight lead now, and if 0:15:11.600 --> 0:15:13.440 he does hold on to that, and if the count 0:15:13.520 --> 0:15:16.200 for Congress does remain the same, we could have a 0:15:16.240 --> 0:15:19.360 Democrat in the White House, a democratically held House, and 0:15:19.400 --> 0:15:22.400 a Republican Senate. I want to ask you about that scenario. 0:15:22.440 --> 0:15:26.240 Do you see gridlock, a divided government, potential for cooperation? 0:15:26.280 --> 0:15:29.359 What do you see, well, good morning, Amy, I'd say 0:15:29.360 --> 0:15:33.800 primarily Gridlock. I think that if the Republicans hold onto 0:15:33.800 --> 0:15:37.000 the Senate, and we can't be positive because of runoffs 0:15:37.040 --> 0:15:40.520 on January six in Georgia, But if the Republicans control 0:15:40.520 --> 0:15:42.640 of the Senate, I don't see a lot getting done, 0:15:42.680 --> 0:15:46.800 and I certainly don't see big tax increases. Although, Greg, 0:15:47.120 --> 0:15:50.600 we heard from Biden last night, of course, uh saying, 0:15:50.760 --> 0:15:54.000 you know, expressing a message of patients, while at the 0:15:54.040 --> 0:15:56.400 same time trying to look ahead, saying that he has 0:15:56.440 --> 0:15:58.760 a lot of work to do on the pandemic, on 0:15:58.800 --> 0:16:03.520 the economy, racial justice, and climate change. He's obviously laying 0:16:03.520 --> 0:16:07.120 out an agenda. There is it possible for him to 0:16:07.320 --> 0:16:10.560 pursue something of that agenda? Does he have a mandate 0:16:10.600 --> 0:16:14.160 to do so? He might, Nathan, But at the same time, 0:16:14.520 --> 0:16:16.600 I think a lot of the proposals that he's talking 0:16:16.640 --> 0:16:21.920 about would run into stiff opposition from McConnell and McConnell's 0:16:21.960 --> 0:16:25.520 Republican truths. So maybe a few things. The real tip 0:16:25.520 --> 0:16:30.080 off will be how quickly we get confirmation of Biden's 0:16:30.120 --> 0:16:33.560 cabinet secretaries. That could That could be a rocky process. 0:16:34.440 --> 0:16:37.320 Now this count Greg is taking a very long time, 0:16:37.840 --> 0:16:40.240 and I want to get your thoughts on what that 0:16:40.320 --> 0:16:42.400 means for the nation. What I mean is, on the 0:16:42.440 --> 0:16:44.280 one hand, it seems like it would be a good 0:16:44.280 --> 0:16:46.160 thing that is taking a long time. It means a 0:16:46.200 --> 0:16:49.640 lot of people voted, they participated the elections. Officials are 0:16:49.680 --> 0:16:54.080 being exceedingly careful. But on the other hand, everybody's in limbo. 0:16:54.200 --> 0:16:56.520 The whole country is just holding its breath. Is this 0:16:56.560 --> 0:16:59.840 good or bad? It's bad. I think talk about how 0:17:00.400 --> 0:17:03.680 this could be fraudulent, that the the election was rigged. 0:17:03.760 --> 0:17:05.960 Some of the rhetoric from the President and his aids, 0:17:06.080 --> 0:17:09.520 I think are not helpful. I do worry a little 0:17:09.600 --> 0:17:13.919 about social unrest. If this UH persists for weeks without 0:17:13.960 --> 0:17:17.280 any final resolution by the courts, I think that you 0:17:17.280 --> 0:17:20.520 could see a lot of protests. Joe Biden has tried 0:17:20.560 --> 0:17:23.600 to pitch himself as the kind of president who can 0:17:23.800 --> 0:17:26.840 cool the temperature of the country and try to reach 0:17:26.880 --> 0:17:32.280 out to those voters who supported President Trump. What kind 0:17:32.320 --> 0:17:35.920 of challenge could he face if he does get those 0:17:35.960 --> 0:17:39.000 two seventy key electoral votes and make it into the 0:17:39.000 --> 0:17:42.639 White House. What kind of challenge does he face two 0:17:43.119 --> 0:17:47.040 try to bind the nation's wounds. Well, primarily, I would 0:17:47.080 --> 0:17:51.000 say from the Senate. Again, the most intriguing angle here, 0:17:51.080 --> 0:17:54.800 I think, Nathan, is the relationship between Biden and McConnell. 0:17:54.840 --> 0:17:58.200 They've known each other for decades, they've worked together pretty well. 0:17:58.640 --> 0:18:02.399 Both are known as the expert dealmakers. So to be 0:18:02.480 --> 0:18:04.960 a little optimistic this morning, I do see a glimmer 0:18:05.000 --> 0:18:07.399 of hope that the two of them could get together. 0:18:07.600 --> 0:18:09.919 And it would have to be close to the center, 0:18:10.000 --> 0:18:12.119 not on the far left or far right. But I 0:18:12.119 --> 0:18:14.760 think the two of them could get things done. So 0:18:14.840 --> 0:18:17.679 that speaks a cooperation between the White House and the Senate. 0:18:17.720 --> 0:18:21.119 But what does the next president, whether it's Trump or Biden, 0:18:21.480 --> 0:18:24.920 face immediately on day one, what is the very first 0:18:24.960 --> 0:18:28.359 job for that president? Covid, covid, covid. I think that 0:18:28.560 --> 0:18:31.240 is by far the number one issue. I think that 0:18:31.560 --> 0:18:34.440 first of all, Biden will bring back Dr Faucci from 0:18:34.480 --> 0:18:37.760 you know, he's been in Siberia. I think Fauci thought 0:18:37.760 --> 0:18:41.439 she becomes a be a big big player once once again. 0:18:41.800 --> 0:18:44.119 They'll have to be a debate internally whether you shut 0:18:44.119 --> 0:18:46.680 things down. I don't think that Biden would. I think 0:18:46.680 --> 0:18:50.560 there'll be much tougher guidelines on masks and social distancing. 0:18:50.880 --> 0:18:53.600 But I think it's more than anything else. It's COVID 0:18:53.840 --> 0:18:56.600 and just quickly, Greg, I mean that raises the question 0:18:56.720 --> 0:19:00.240 of stimulus as well, doesn't it. Yes, it does, big 0:19:00.280 --> 0:19:03.320 issue for the markets. There will be a stimulus bill 0:19:03.480 --> 0:19:06.520 steerless forecast. I can't tell you when, I can't tell 0:19:06.560 --> 0:19:08.760 you how much it will cost, but I do think 0:19:08.800 --> 0:19:10.960 in the next couple of months we have to have 0:19:11.000 --> 0:19:13.439 another stimulus bill. All right, Greg, I want to build 0:19:13.440 --> 0:19:16.520 on something that you said earlier about civil unrest. It 0:19:16.560 --> 0:19:18.480 does seem like what the electorate wants to know is 0:19:18.480 --> 0:19:21.400 not just who wins, but then what happens when one 0:19:21.440 --> 0:19:25.159 candidate is declared the winner. Because businesses are still boarded up, 0:19:25.200 --> 0:19:28.360 folks are not letting their guard down. What could possibly 0:19:28.400 --> 0:19:31.000 happen over the next few weeks, Well, there could be 0:19:31.080 --> 0:19:34.480 protests that there already are protests in New York, Portland's 0:19:34.480 --> 0:19:38.840 many cities. And if the rhetoric over a rigged election 0:19:39.200 --> 0:19:43.720 gets more harsh if a final winner has not been determined, 0:19:44.080 --> 0:19:48.760 I think protests could spin out of control. Does it 0:19:48.800 --> 0:19:51.280 make a difference that there could possibly be a split 0:19:51.520 --> 0:19:55.200 within the Republican Party over whether to fight this vote 0:19:55.240 --> 0:19:57.880 count and how far to take the fight. The key 0:19:58.000 --> 0:20:01.840 is of the centrist Republicans. Will they start to speak 0:20:01.880 --> 0:20:04.840 out more forcefully. We saw on the Wall Street Journal 0:20:04.880 --> 0:20:08.280 this weekend and editorial saying that perhaps Donald Trump passed 0:20:08.280 --> 0:20:13.160 to gracefully concede, but if the president does not gracefully succeed, 0:20:13.440 --> 0:20:15.920 that's going to raise the temperature all around the country. 0:20:16.119 --> 0:20:19.879 Greg Valier, chief US policy strategist for a GF Investments, 0:20:19.880 --> 0:20:22.240 Thanks for being with us UH this morning. Greg on 0:20:22.280 --> 0:20:25.600 this election special edition of Bloomberg Daybreak, and coming up 0:20:26.080 --> 0:20:28.200 we'll get more on the legal battle for the White House, 0:20:28.200 --> 0:20:32.520 how the pending and current lawsuits could play out potentially 0:20:32.920 --> 0:20:35.280 on their way to the High Court. I'm Nathan Hager 0:20:35.320 --> 0:20:42.800 alongside Amy Morris, and this is Bloomberg. This is special 0:20:42.800 --> 0:20:47.040 coverage of the twenty election from Bloomberg Radio. And this 0:20:47.240 --> 0:20:50.680 is a Bloomberg Daybreak special report. I'm Nathan Hager, I'm 0:20:50.680 --> 0:20:53.080 Amy Morris. The path to the White Houses there for 0:20:53.359 --> 0:20:56.560 Joe Biden, but a protracted legal battle could be in 0:20:56.640 --> 0:21:00.719 the offing. Bloomberg Law host June Grasso is with us 0:21:00.760 --> 0:21:03.880 now our resident legal expert. We take a look at 0:21:03.880 --> 0:21:08.200 the flurry of legal activity that has accompanied this election. 0:21:08.359 --> 0:21:13.119 Count June good Saturday morning. What are the cases? Good morning, 0:21:13.119 --> 0:21:15.760 What are some of the cases that you're watching right now? 0:21:15.800 --> 0:21:18.760 Obviously we've had quite a lot of them. What's got 0:21:18.800 --> 0:21:22.600 your focus this morning? Well, the main case that we're 0:21:22.640 --> 0:21:27.640 watching is the case in Pennsylvania. First because Pennsylvania is such, 0:21:27.880 --> 0:21:31.200 you know, a swing state and so important in this election, 0:21:31.440 --> 0:21:33.639 but also because that's the case. And by the way, 0:21:33.640 --> 0:21:36.960 when I say Pennsylvania, there are several cases in Pennsylvania, 0:21:36.960 --> 0:21:39.800 but there is one in particular, several cases, one that's 0:21:39.800 --> 0:21:42.680 already been dismissed. But the case that I'm talking about 0:21:42.800 --> 0:21:45.840 is the one that probably everyone has heard, and that 0:21:45.960 --> 0:21:48.480 is about the ballots that come in late. And this 0:21:48.560 --> 0:21:51.760 has already gone to the Supreme Court once. So the 0:21:51.760 --> 0:21:55.760 Pennsylvania Supreme Court said it's okay to count ballots that 0:21:55.880 --> 0:21:58.639 come in that three days after election day as long 0:21:58.680 --> 0:22:01.119 as they're post my Violet and day. That went up 0:22:01.119 --> 0:22:03.600 to the Supreme Court in a four to four decision. 0:22:03.960 --> 0:22:07.679 The justices said we'll leave that in place for now 0:22:08.320 --> 0:22:13.520 because the for the for the conservative justices said, you know, 0:22:13.720 --> 0:22:17.359 we're open to leaving to discussing this later, maybe after 0:22:17.400 --> 0:22:20.879 the election, because you have those ballots segregated, so that 0:22:20.960 --> 0:22:24.800 makes it easier. Even so, that's why people are so 0:22:24.960 --> 0:22:28.359 focused on Pennsylvania, because the Supreme Court has left the 0:22:28.359 --> 0:22:32.679 door open to considering that again. And then there was 0:22:32.760 --> 0:22:37.000 also an order by Justice Alito yesterday. This is sort 0:22:37.000 --> 0:22:40.040 of kind of odd because the Republicans went to the 0:22:40.080 --> 0:22:44.119 Supreme Court again and said they're not keeping those ballots segregated. 0:22:44.600 --> 0:22:47.879 And Justice Alito was the justice for that um that 0:22:47.960 --> 0:22:54.320 handles uh any special requests from that area, and he said, okay, 0:22:54.760 --> 0:22:58.000 he ordered them to keep it segregated to the state officials, 0:22:57.960 --> 0:23:00.480 which the state officials say, well, we're always already doing that. 0:23:00.640 --> 0:23:05.199 So it's sort of it's unclear why the Pennsylvania Republicans 0:23:05.240 --> 0:23:09.280 went up to the Supreme Court again. You know, it's confusing, 0:23:09.760 --> 0:23:13.440 it's a little Well, that's what I wanted to ask about, 0:23:13.520 --> 0:23:16.159 Jin because my original question to you was going to 0:23:16.240 --> 0:23:19.880 be about the trip to the Supreme Court and how 0:23:20.000 --> 0:23:22.440 the Supreme Court may receive a case like this. But 0:23:22.520 --> 0:23:25.359 from where you're from, what you're telling me, it sounds 0:23:25.400 --> 0:23:27.720 like it may not be just one trip to the 0:23:27.760 --> 0:23:30.160 Supreme Court. We may see this go over and over 0:23:30.200 --> 0:23:34.199 to the Supreme Court because our system of election is 0:23:34.400 --> 0:23:37.920 decentralized all the way down to the district level. So 0:23:38.320 --> 0:23:41.440