1 00:00:01,280 --> 00:00:05,160 Speaker 1: Welcome to Verdict with Ted Cruz. Week in Review. Ben 2 00:00:05,240 --> 00:00:07,640 Speaker 1: Ferguson with you, and these are the stories that you 3 00:00:07,680 --> 00:00:10,280 Speaker 1: may have missed that we talked about this past week. 4 00:00:10,720 --> 00:00:16,120 Speaker 1: First up, Nick Saban testifies about the importance of NIL 5 00:00:16,640 --> 00:00:20,240 Speaker 1: the deals with athletes students, and how it could help 6 00:00:20,440 --> 00:00:24,000 Speaker 1: or even hurt and destroy college sports. We'll take a 7 00:00:24,000 --> 00:00:27,120 Speaker 1: look at what Congress may do to get involved. Also, 8 00:00:27,520 --> 00:00:31,800 Speaker 1: Hunter Biden runs away from the public hearing that he demanded, 9 00:00:32,120 --> 00:00:34,640 Speaker 1: so when is he going to be seen again in Washington. 10 00:00:35,000 --> 00:00:39,080 Speaker 1: We'll talk about those developments as well. And finally, New 11 00:00:39,159 --> 00:00:43,800 Speaker 1: York wants five hundred million a half a billion dollars 12 00:00:43,800 --> 00:00:47,199 Speaker 1: from Donald Trump by Tuesday, and if he doesn't come 13 00:00:47,280 --> 00:00:50,440 Speaker 1: up with the money, they want to seize his assets. 14 00:00:50,760 --> 00:00:53,159 Speaker 1: So what will Trump do next? We'll dive into that. 15 00:00:53,600 --> 00:00:57,440 Speaker 1: It's the weekend review and it starts right now. Sata, 16 00:00:57,600 --> 00:00:59,520 Speaker 1: you mentioned this roundtable, and I want to play some 17 00:00:59,560 --> 00:01:02,240 Speaker 1: of your opening remarks. You were sitting there next to 18 00:01:02,320 --> 00:01:04,120 Speaker 1: Nick Saban, which is, by the way, if you're a 19 00:01:04,120 --> 00:01:08,160 Speaker 1: sports fan, it's just cool. He's a legendary coach. I'm 20 00:01:08,200 --> 00:01:10,080 Speaker 1: so glad he retired so I don't have to deal 21 00:01:10,120 --> 00:01:13,000 Speaker 1: with him playing him every year because he's a brilliant 22 00:01:13,000 --> 00:01:15,399 Speaker 1: mind in football. But here's part of what you had 23 00:01:15,400 --> 00:01:15,800 Speaker 1: to say. 24 00:01:16,040 --> 00:01:20,960 Speaker 2: Fear and many others, fear threatens to jeopardize all that 25 00:01:21,080 --> 00:01:24,360 Speaker 2: is working so well with college athletics. More and more 26 00:01:24,440 --> 00:01:27,959 Speaker 2: there is agreement that Congress needs to act to ensure 27 00:01:27,959 --> 00:01:29,760 Speaker 2: that we have a level playing field, that we have 28 00:01:29,840 --> 00:01:35,520 Speaker 2: real competition, that college sports can continue to thrive in 29 00:01:35,600 --> 00:01:39,399 Speaker 2: the decades going forward. And this roundtable is designed to 30 00:01:39,400 --> 00:01:42,960 Speaker 2: be a discussion with numerous stakeholders who are engaged in 31 00:01:43,000 --> 00:01:46,160 Speaker 2: the process to get perspectives on what is needed and 32 00:01:46,200 --> 00:01:51,600 Speaker 2: what is not Right now, we have the brave new 33 00:01:51,600 --> 00:01:55,000 Speaker 2: world of nil and college athletes now, many of them 34 00:01:55,040 --> 00:01:58,680 Speaker 2: earning very significant sums of money. I for one, think 35 00:01:58,720 --> 00:02:01,000 Speaker 2: that's a good thing, and get as good that young 36 00:02:01,040 --> 00:02:03,760 Speaker 2: men and young women who worked incredibly hard to develop 37 00:02:05,000 --> 00:02:10,200 Speaker 2: fantastic skills that in turn can generate enormous economic activity 38 00:02:10,280 --> 00:02:12,880 Speaker 2: should be entitled to enjoy the fruits of their labor, 39 00:02:13,400 --> 00:02:16,680 Speaker 2: should be entitled to benefit. But we also need a 40 00:02:16,720 --> 00:02:21,680 Speaker 2: system where we have real competition and fair competition, and 41 00:02:21,720 --> 00:02:24,600 Speaker 2: not just one or two monster schools and everyone else 42 00:02:25,440 --> 00:02:29,240 Speaker 2: as a hanger on, but real competition throughout the league 43 00:02:29,280 --> 00:02:32,480 Speaker 2: to make for good games. We also need to make 44 00:02:32,480 --> 00:02:36,959 Speaker 2: sure the rules that are in place don't just focus 45 00:02:37,680 --> 00:02:41,640 Speaker 2: on Power five conferences, don't just focus on football and basketball, 46 00:02:41,680 --> 00:02:45,280 Speaker 2: which generate most of the revenue. But we need to 47 00:02:45,360 --> 00:02:49,160 Speaker 2: keep in mind and keep our focus on smaller schools, 48 00:02:49,160 --> 00:02:52,120 Speaker 2: Division two schools, Division three schools, and we need to 49 00:02:52,120 --> 00:02:54,320 Speaker 2: focus on the many other sports that are not going 50 00:02:54,400 --> 00:03:00,000 Speaker 2: to be playing on ESPN, but nonetheless provide an avviage 51 00:03:00,280 --> 00:03:02,639 Speaker 2: for young women and young men to go to school 52 00:03:02,639 --> 00:03:05,840 Speaker 2: and to get an education. We now have a patchwork 53 00:03:05,880 --> 00:03:09,320 Speaker 2: of nil laws state by state that makes it difficult 54 00:03:09,320 --> 00:03:15,240 Speaker 2: to navigate. We have multiple active litigation going on that 55 00:03:15,320 --> 00:03:20,519 Speaker 2: prevents the NCAA and conferences and universities from enforcing the 56 00:03:20,639 --> 00:03:23,720 Speaker 2: rules or even knowing what the rules are. And we 57 00:03:23,760 --> 00:03:26,080 Speaker 2: have a lot of uncertainty for student athletes and for 58 00:03:26,160 --> 00:03:29,639 Speaker 2: agents and collectives who are trying to navigate the evolving 59 00:03:29,680 --> 00:03:32,240 Speaker 2: and unpredictable rules but uncertain what they're going to be 60 00:03:32,280 --> 00:03:35,440 Speaker 2: today and even more so, what they're going to be tomorrow. 61 00:03:36,040 --> 00:03:39,920 Speaker 2: The purpose of this discussion is to listen if we 62 00:03:39,960 --> 00:03:42,800 Speaker 2: do it right, A number of senators are expected to 63 00:03:42,880 --> 00:03:45,760 Speaker 2: join us. We have with us today Senator Moran and 64 00:03:45,800 --> 00:03:47,760 Speaker 2: Senator Tillis, and I think others will be coming in 65 00:03:47,800 --> 00:03:50,280 Speaker 2: and out throughout the day. There are many members, both 66 00:03:50,320 --> 00:03:54,040 Speaker 2: Republicans and Democrats, very interested in this topic. And I 67 00:03:54,080 --> 00:03:57,320 Speaker 2: will say, if we're going to go forward, and I 68 00:03:57,440 --> 00:04:01,840 Speaker 2: very much want Congress to pass meaningful legens addressing a IL, 69 00:04:02,840 --> 00:04:04,880 Speaker 2: but if we're going to go forward, it is going 70 00:04:04,920 --> 00:04:09,160 Speaker 2: to take bipartisan cooperation. If this simply becomes a partisan 71 00:04:09,200 --> 00:04:12,800 Speaker 2: exercise of shirts and skins, we know how that ends. 72 00:04:12,840 --> 00:04:16,120 Speaker 2: That ends with a vote that doesn't pass through Congress. 73 00:04:16,640 --> 00:04:19,400 Speaker 2: So we have and I will say many of us 74 00:04:19,480 --> 00:04:23,440 Speaker 2: here at this table have had multiple good, productive conversations 75 00:04:23,760 --> 00:04:25,640 Speaker 2: with senators on the other side of the aisle, and 76 00:04:25,680 --> 00:04:30,160 Speaker 2: I think we are coming towards some outlines of consensus, 77 00:04:30,440 --> 00:04:32,880 Speaker 2: but we're not there yet, and I'm hopeful this conversation 78 00:04:33,600 --> 00:04:35,880 Speaker 2: will help move the process forward. 79 00:04:36,320 --> 00:04:41,080 Speaker 1: You talked about this being bipartisan. Senator, rarely in Congress 80 00:04:41,080 --> 00:04:43,719 Speaker 1: do you get something. I think everybody kind of agrees, Hey, 81 00:04:44,200 --> 00:04:46,360 Speaker 1: we need to make sure this is done right. And 82 00:04:46,680 --> 00:04:49,320 Speaker 1: you mentioned every different state's got different things, and this 83 00:04:49,400 --> 00:04:51,599 Speaker 1: has become the and I kind of become the wild 84 00:04:51,640 --> 00:04:55,359 Speaker 1: wide west. But having this discussion, does there seem to 85 00:04:55,360 --> 00:04:57,360 Speaker 1: be a lot of consensus here on both sides of 86 00:04:57,360 --> 00:04:58,960 Speaker 1: the aisle, and pretty easy to get people of the 87 00:04:59,000 --> 00:05:00,520 Speaker 1: table here to say, hey, let's do this in a 88 00:05:00,520 --> 00:05:01,520 Speaker 1: responsible manner. 89 00:05:02,040 --> 00:05:05,880 Speaker 2: Well, yes and no. I would say there's bipartisan agreement 90 00:05:05,960 --> 00:05:08,680 Speaker 2: that Congress needs to act, and I think senators on 91 00:05:08,720 --> 00:05:11,440 Speaker 2: both sides are realizing, hey, we've got a real problem here. 92 00:05:12,800 --> 00:05:15,400 Speaker 2: What is not clear is if we can reach consensus 93 00:05:15,440 --> 00:05:17,839 Speaker 2: on what acting looks like. I think there's a need 94 00:05:17,880 --> 00:05:19,960 Speaker 2: for a federal legislation. We've got a bunch of states 95 00:05:20,400 --> 00:05:23,680 Speaker 2: stepping in passing their own nil legislation, but you end 96 00:05:23,760 --> 00:05:27,400 Speaker 2: up having this conflicting patchwork. So, for example, Texas has 97 00:05:27,440 --> 00:05:29,960 Speaker 2: passed nil legislation. It did something I've never seen the 98 00:05:29,960 --> 00:05:32,440 Speaker 2: state of Texas do before, or for that matter, any 99 00:05:32,440 --> 00:05:36,359 Speaker 2: state legislature. In the Texas State Bill, it explicitly calls 100 00:05:36,360 --> 00:05:38,840 Speaker 2: on Congress to act. It says, Look, it's not great 101 00:05:38,880 --> 00:05:40,320 Speaker 2: for each of the states to be doing this. This 102 00:05:40,360 --> 00:05:42,320 Speaker 2: ought to be a federal rule that applies to everyone. 103 00:05:43,080 --> 00:05:46,560 Speaker 2: And so I've drafted legislation, I've circulated it. I spent 104 00:05:47,240 --> 00:05:49,840 Speaker 2: the better part of a year listening to stakeholders, listening 105 00:05:49,880 --> 00:05:53,919 Speaker 2: to universities, listening to athletic conferences, listening to players, listening 106 00:05:53,960 --> 00:05:58,320 Speaker 2: to all sorts of players across across the world of 107 00:05:58,360 --> 00:06:03,039 Speaker 2: college athletics, and trying to capture their best practices. So 108 00:06:03,160 --> 00:06:07,719 Speaker 2: the legislation that I've put forward number one. Number one, 109 00:06:07,839 --> 00:06:11,680 Speaker 2: it protects the ability of student athletes to earn from 110 00:06:11,720 --> 00:06:13,680 Speaker 2: their name, image, and likeness. And I think it's only fair. 111 00:06:13,720 --> 00:06:17,320 Speaker 2: If you've worked incredibly hard, you've developed fantastic skills, you 112 00:06:17,360 --> 00:06:19,560 Speaker 2: should be able to reap the rewards the fruits of 113 00:06:19,560 --> 00:06:23,520 Speaker 2: your labor. But number two, it empowers the nc double 114 00:06:23,560 --> 00:06:26,599 Speaker 2: A to set rules and set standards. Now, there have 115 00:06:26,640 --> 00:06:30,120 Speaker 2: been some other senators that have introduced legislation that would 116 00:06:30,120 --> 00:06:32,479 Speaker 2: put the federal government in charge of setting the rules 117 00:06:32,480 --> 00:06:36,080 Speaker 2: and standards, either the government or a quasi governmental organization. 118 00:06:36,120 --> 00:06:38,120 Speaker 2: I think that's a mistake. I think if you have 119 00:06:38,160 --> 00:06:41,000 Speaker 2: politicians or bureaucrats, I mean, can you imagine what a 120 00:06:41,120 --> 00:06:43,839 Speaker 2: nightmare would be to have congressional hearings on what constitutes 121 00:06:43,880 --> 00:06:44,680 Speaker 2: pass interference? 122 00:06:45,080 --> 00:06:46,000 Speaker 1: Yeah, I mean be bad. 123 00:06:46,240 --> 00:06:46,760 Speaker 2: That's bad. 124 00:06:47,240 --> 00:06:49,239 Speaker 1: So it would never get it would never get agreed 125 00:06:49,279 --> 00:06:50,120 Speaker 1: upon ever, Right. 126 00:06:50,240 --> 00:06:53,120 Speaker 2: Are there problems with the NC double A, Yes, but 127 00:06:53,200 --> 00:06:56,760 Speaker 2: it's the least worst option out there, and so my 128 00:06:56,920 --> 00:06:59,560 Speaker 2: legislation protects the ability of the NC double A to 129 00:06:59,600 --> 00:07:03,720 Speaker 2: set rules. It also provides for things like the registration 130 00:07:03,760 --> 00:07:07,080 Speaker 2: of agents. Right now, you have seventeen, eighteen, nineteen year 131 00:07:07,080 --> 00:07:10,280 Speaker 2: old students who are being represented by agents. They don't 132 00:07:10,280 --> 00:07:12,480 Speaker 2: know if these guys are honest, they don't know their background. 133 00:07:12,480 --> 00:07:16,680 Speaker 2: There's no transparency, and it's really setting kids up to 134 00:07:16,480 --> 00:07:20,000 Speaker 2: be swindled by people taking advantage of them. So it 135 00:07:20,040 --> 00:07:22,960 Speaker 2: sets up for a system of registration of agents. It 136 00:07:23,040 --> 00:07:26,600 Speaker 2: also sets up a system of transparency where you can 137 00:07:26,640 --> 00:07:29,200 Speaker 2: see what the name, image and likeness market is. You 138 00:07:29,240 --> 00:07:33,160 Speaker 2: can see what other schools, what other positions are paying, 139 00:07:33,280 --> 00:07:37,520 Speaker 2: so that you're not operating in the dark. And I've 140 00:07:37,560 --> 00:07:41,040 Speaker 2: introduced this legislation. I put it out there, and I 141 00:07:41,120 --> 00:07:45,160 Speaker 2: have been in the process of negotiating with several Democrats 142 00:07:45,200 --> 00:07:48,000 Speaker 2: to see if we can get to common ground. One 143 00:07:48,040 --> 00:07:51,640 Speaker 2: of the important things my legislation also provides is that 144 00:07:51,720 --> 00:07:55,960 Speaker 2: student athletes are not employees. This is a big question. 145 00:07:56,040 --> 00:07:58,600 Speaker 2: It's being litigated right now. I think it'd be a 146 00:07:58,600 --> 00:08:01,720 Speaker 2: disaster of student athletes were treated as employees. I think 147 00:08:01,760 --> 00:08:04,920 Speaker 2: if that happened, if student athletes were treated as employees, 148 00:08:05,760 --> 00:08:10,320 Speaker 2: it would end up badly damaging particularly smaller schools Division 149 00:08:10,360 --> 00:08:14,000 Speaker 2: two schools, Division three schools, and it would badly damage 150 00:08:14,040 --> 00:08:19,400 Speaker 2: non revenue sports. So football and basketball would be fine. 151 00:08:19,120 --> 00:08:23,800 Speaker 2: But look, you played men's tennis, women's golf, volleyball, swimming, 152 00:08:24,040 --> 00:08:28,400 Speaker 2: track and field. You know universities are saying across the 153 00:08:28,400 --> 00:08:33,080 Speaker 2: board those sports would be obliterated by treating student athletes 154 00:08:33,080 --> 00:08:37,000 Speaker 2: as employees. I'll say the historically black colleges and universities 155 00:08:37,040 --> 00:08:39,480 Speaker 2: have come in and said, likewise, please do not make 156 00:08:39,520 --> 00:08:43,720 Speaker 2: student athletes employees. It will decimate our athletic programs. And 157 00:08:43,760 --> 00:08:47,160 Speaker 2: so I'm in the process of negotiating and trying to 158 00:08:47,200 --> 00:08:50,040 Speaker 2: find Democrats who are willing to find common ground on this. 159 00:08:50,520 --> 00:08:52,679 Speaker 2: If we can't get common ground, the bill's not going 160 00:08:52,720 --> 00:08:55,680 Speaker 2: to pass. I think we're close, but we're not there yet. 161 00:08:55,720 --> 00:08:58,160 Speaker 2: But I will say, you know, sitting at the roundtable 162 00:08:58,200 --> 00:09:01,120 Speaker 2: with Nick Saban, it was striking. I asked coach Saban. 163 00:09:01,160 --> 00:09:03,760 Speaker 2: I mean, he just stepped down from being one of 164 00:09:03,800 --> 00:09:08,120 Speaker 2: the most successful college football coaches in all time, and 165 00:09:08,200 --> 00:09:11,199 Speaker 2: I asked him, I said, coach was the current chaos 166 00:09:11,240 --> 00:09:14,000 Speaker 2: of NIL and the transfer portal and everything. Was that 167 00:09:15,000 --> 00:09:17,760 Speaker 2: a factor in your stepping down? And listen to what 168 00:09:17,880 --> 00:09:19,640 Speaker 2: Nick Saban said in response to my question. 169 00:09:20,559 --> 00:09:22,960 Speaker 3: All the things that I believed in for all these 170 00:09:23,080 --> 00:09:28,000 Speaker 3: years fifty years of coaching no longer exist in college athletics. 171 00:09:28,559 --> 00:09:32,000 Speaker 3: So it's always about developing players. It was always about 172 00:09:32,440 --> 00:09:36,080 Speaker 3: helping people may more successful in life. My wife even 173 00:09:36,120 --> 00:09:38,320 Speaker 3: said to me, we'd have all the recruits over on 174 00:09:38,440 --> 00:09:43,160 Speaker 3: Sunday with their parents for breakfast, and she would always 175 00:09:43,200 --> 00:09:46,240 Speaker 3: meet with the mothers and talk about how she was 176 00:09:46,280 --> 00:09:50,320 Speaker 3: going to help and impact their sons and how they 177 00:09:50,360 --> 00:09:52,920 Speaker 3: would be well taken care of. And she came to me, 178 00:09:53,840 --> 00:09:55,960 Speaker 3: you know, like right before I retired, and said, why 179 00:09:56,000 --> 00:09:58,439 Speaker 3: are we doing this? And I said, what do you mean? 180 00:09:58,920 --> 00:10:01,240 Speaker 3: She said, they care about is how much you're gonna 181 00:10:01,240 --> 00:10:03,480 Speaker 3: pay them. They don't care about how you're gonna develop them, 182 00:10:03,520 --> 00:10:05,440 Speaker 3: which is all what we've always done. So why are 183 00:10:05,520 --> 00:10:06,000 Speaker 3: we doing this? 184 00:10:07,040 --> 00:10:09,319 Speaker 1: I mean it drove him, I think from the game. 185 00:10:09,640 --> 00:10:15,000 Speaker 2: Yeah, no, it's striking. And listen, if Nick Saban can't 186 00:10:15,040 --> 00:10:17,400 Speaker 2: stand it anymore, how the heck is anyone else supposed 187 00:10:17,400 --> 00:10:20,800 Speaker 2: to it? And I got to say the genuine concern 188 00:10:20,920 --> 00:10:24,080 Speaker 2: I've heard from coach after coach after coach, rom athletic 189 00:10:24,120 --> 00:10:27,559 Speaker 2: director after an athletic director, from the heads of conferences. 190 00:10:28,200 --> 00:10:31,680 Speaker 2: They are genuinely afraid that we've got a short window 191 00:10:31,760 --> 00:10:35,640 Speaker 2: of maybe a year or two to act to preserve 192 00:10:35,720 --> 00:10:39,840 Speaker 2: college sports or else we are risking major and permanent damage. 193 00:10:39,880 --> 00:10:42,880 Speaker 2: So I hope we see Congress act. I'll tell you 194 00:10:42,920 --> 00:10:44,880 Speaker 2: I put the odds at about fifty to fifty. I 195 00:10:44,880 --> 00:10:48,480 Speaker 2: think we're close to getting bipartisan agreement. I'm spending a 196 00:10:48,480 --> 00:10:51,439 Speaker 2: lot of time talking with several Democrats and we're close. 197 00:10:51,480 --> 00:10:55,160 Speaker 2: And it was good. A number of Republicans and Democrats 198 00:10:55,200 --> 00:10:58,760 Speaker 2: came to this roundtable participated. It was a good conversation, 199 00:10:58,840 --> 00:11:01,120 Speaker 2: and what was nice about it is it wasn't a 200 00:11:01,200 --> 00:11:03,640 Speaker 2: hearing where there was show voting and grandstanding. It was 201 00:11:03,679 --> 00:11:06,960 Speaker 2: a real conversation, and I do think there's a desire 202 00:11:07,040 --> 00:11:11,319 Speaker 2: to act to make sure we preserve something amazing, because 203 00:11:11,320 --> 00:11:13,560 Speaker 2: I got to say, when you're cheering for your school, 204 00:11:14,000 --> 00:11:18,920 Speaker 2: it brings people together across party lines, across races, across ethnicities, 205 00:11:18,920 --> 00:11:23,080 Speaker 2: across everything when you're cheering together, and that's something amazing 206 00:11:23,120 --> 00:11:27,000 Speaker 2: and special and it's also such a powerful pipeline. There's 207 00:11:27,040 --> 00:11:29,840 Speaker 2: so many young men and women who are getting college 208 00:11:29,960 --> 00:11:33,480 Speaker 2: educations who wouldn't get it without college athletics that if 209 00:11:33,520 --> 00:11:36,960 Speaker 2: we screw this up, it would be enormously damaging. 210 00:11:37,400 --> 00:11:39,840 Speaker 1: Now, if you want to hear the rest of this conversation, 211 00:11:40,040 --> 00:11:42,400 Speaker 1: you can go back and listen to the full podcast 212 00:11:42,480 --> 00:11:48,079 Speaker 1: from earlier this week. Now onto story number two, Joe Biden. 213 00:11:48,160 --> 00:11:51,640 Speaker 1: They had no problem talking about his son, Hunter Biden 214 00:11:52,040 --> 00:11:54,080 Speaker 1: when he went to Washington, d C. When he had 215 00:11:54,080 --> 00:11:56,800 Speaker 1: that press conference when he said, I will not testify 216 00:11:56,840 --> 00:11:58,960 Speaker 1: behind closed doors because the Republicans are going to lie 217 00:11:58,960 --> 00:12:01,440 Speaker 1: about what I say, and I will only do it 218 00:12:01,440 --> 00:12:03,760 Speaker 1: in a public hearing. I demand a public hearing. And 219 00:12:03,800 --> 00:12:05,360 Speaker 1: there was a big charaine and it was in front 220 00:12:05,400 --> 00:12:09,080 Speaker 1: of the Capitol where you serve senator. And now we've 221 00:12:09,080 --> 00:12:13,120 Speaker 1: found out that there is a public hearing that's coming, 222 00:12:13,640 --> 00:12:18,800 Speaker 1: and Hunter Biden has rejected the GOP invitation for the 223 00:12:18,800 --> 00:12:23,160 Speaker 1: public hearing after demanding that the same GOP give him 224 00:12:23,200 --> 00:12:27,160 Speaker 1: a damn public hearing and demanded it in Washington in 225 00:12:27,240 --> 00:12:28,200 Speaker 1: front of the Capitol. 226 00:12:28,880 --> 00:12:31,280 Speaker 2: Well, this was all theatrics, that it was all dishonest, 227 00:12:31,360 --> 00:12:33,800 Speaker 2: that theatrics by Hunter Biden and his legal team and 228 00:12:33,800 --> 00:12:37,280 Speaker 2: by Joe Biden and the White House. But as you noted, 229 00:12:37,360 --> 00:12:39,920 Speaker 2: Hunter Biden said from the beginning that he only wanted 230 00:12:39,920 --> 00:12:42,480 Speaker 2: to testify in public. He didn't trust a closed door event. 231 00:12:42,520 --> 00:12:45,000 Speaker 2: He said he was happy to testify in public. So 232 00:12:45,120 --> 00:12:47,480 Speaker 2: the House has taken him up on it and invited him, said, 233 00:12:47,760 --> 00:12:51,600 Speaker 2: come testify on March twentieth. We've got a hearing. Devin Archer, 234 00:12:51,640 --> 00:12:54,760 Speaker 2: Tony Bubbolinski, and Jason Galanis are testifying. By the way, 235 00:12:55,040 --> 00:12:57,800 Speaker 2: these are individuals Hunter knows very well that he's done 236 00:12:57,840 --> 00:13:03,680 Speaker 2: business with. Come testify publicly and immediately. The lie was 237 00:13:03,720 --> 00:13:09,040 Speaker 2: apparent because Hunter Biden said no. Hunter Biden's lawyer refused 238 00:13:09,040 --> 00:13:13,280 Speaker 2: to go calling the public hearing a quote blatant planned 239 00:13:13,320 --> 00:13:17,079 Speaker 2: for media event, and in fact, let me read what 240 00:13:17,120 --> 00:13:20,520 Speaker 2: Abby Lowell, who's Hunter Biden's lawyer, wrote, quote Your blatant 241 00:13:20,800 --> 00:13:23,880 Speaker 2: planned for media event is not a proper proceeding but 242 00:13:23,920 --> 00:13:26,800 Speaker 2: an obvious attempt to throw a hail Mary pass after 243 00:13:26,840 --> 00:13:29,360 Speaker 2: the game has ended. Let me remind you of a 244 00:13:29,360 --> 00:13:32,440 Speaker 2: statement you made about how witnesses and specifically mister Biden, 245 00:13:32,920 --> 00:13:37,840 Speaker 2: could satisfy your prior requests. At your press conference after 246 00:13:37,880 --> 00:13:40,960 Speaker 2: the January tenth, twenty twenty four committee hearing to hold 247 00:13:41,040 --> 00:13:44,520 Speaker 2: mister Biden in contempt, you stated, quote, all we need 248 00:13:44,559 --> 00:13:46,960 Speaker 2: are people to come in for the depositions and then 249 00:13:47,040 --> 00:13:49,640 Speaker 2: will be finished. We just need people to show up 250 00:13:49,679 --> 00:13:52,720 Speaker 2: to the depositions and will wrap this up. Nobody wants 251 00:13:52,760 --> 00:13:56,240 Speaker 2: to wrap this up more than I do. Mister Biden 252 00:13:56,320 --> 00:14:00,199 Speaker 2: did just as you asked, and as you did when 253 00:14:00,200 --> 00:14:03,640 Speaker 2: you announced that witnesses could choose depositions. You want to 254 00:14:03,679 --> 00:14:08,160 Speaker 2: ignore what you said. Now, let me note you and 255 00:14:08,200 --> 00:14:10,600 Speaker 2: I had this conversation with James Comer at the time, 256 00:14:11,480 --> 00:14:13,600 Speaker 2: and James Comer is a good man, he's a friend. 257 00:14:13,640 --> 00:14:16,440 Speaker 2: He's doing a very good job. I told him then 258 00:14:16,880 --> 00:14:21,800 Speaker 2: on this podcast, forget about the closed door deposition. Hunter 259 00:14:21,920 --> 00:14:25,280 Speaker 2: is saying he will testify publicly. Do it tomorrow, get 260 00:14:25,360 --> 00:14:29,400 Speaker 2: him on record publicly tomorrow. I wish I could say 261 00:14:29,440 --> 00:14:33,440 Speaker 2: I'm surprised. I'm not surprised Hunter Biden is playing games. 262 00:14:33,800 --> 00:14:36,440 Speaker 2: He is trying to delay this until after the election. 263 00:14:36,560 --> 00:14:41,080 Speaker 2: And as I reminded James Comer, Hunter Biden's not the 264 00:14:41,120 --> 00:14:43,440 Speaker 2: target here, He's not the reason. This is a matter 265 00:14:43,480 --> 00:14:46,880 Speaker 2: of public concern Joe Biden. The corruption of the President 266 00:14:46,920 --> 00:14:49,880 Speaker 2: of the United States is the target. And so listen, 267 00:14:50,720 --> 00:14:52,880 Speaker 2: nothing of me, no part of me. Is surprise that 268 00:14:53,000 --> 00:14:55,880 Speaker 2: Hunter's now saying, oh, no, I did the deposition. Now 269 00:14:55,920 --> 00:14:58,280 Speaker 2: I'm not gonna do it. I think the next step 270 00:14:58,320 --> 00:15:01,840 Speaker 2: is obvious. The House needs issue a subpoena for Hunter 271 00:15:01,880 --> 00:15:06,120 Speaker 2: Biden to testify publicly. Hunter will have a choice comply 272 00:15:06,240 --> 00:15:09,600 Speaker 2: with a subpoena or defy the subpoena. And if he 273 00:15:09,680 --> 00:15:12,360 Speaker 2: defies the subpoena, the House needs to hold him in contempt. 274 00:15:12,680 --> 00:15:16,000 Speaker 2: That needs to happen fast. Time is running out. But 275 00:15:16,320 --> 00:15:19,160 Speaker 2: I got to say, you know all of the bravado. 276 00:15:19,240 --> 00:15:22,280 Speaker 2: Remember we talked about on verdict. Also, how when the 277 00:15:22,320 --> 00:15:25,000 Speaker 2: House was having a hearing, Hunter Biden showed up in 278 00:15:25,120 --> 00:15:29,040 Speaker 2: the hearing room just just gloating. In my view, I 279 00:15:29,200 --> 00:15:32,240 Speaker 2: wish they had right then said mister Biden, come down 280 00:15:32,280 --> 00:15:35,240 Speaker 2: to the table, we'll swear you in. Let's go. That's 281 00:15:35,240 --> 00:15:38,520 Speaker 2: what they should have done. I still think and hope 282 00:15:38,560 --> 00:15:42,440 Speaker 2: they will get him to testify publicly, but if he 283 00:15:42,520 --> 00:15:47,240 Speaker 2: avoids public testimony through these games, it will be tragic 284 00:15:47,360 --> 00:15:50,320 Speaker 2: because this is an effort at off uscation This is 285 00:15:50,320 --> 00:15:52,760 Speaker 2: an effort at cover up, This is an effort at 286 00:15:52,960 --> 00:15:57,280 Speaker 2: hiding the criminal behavior of Joe Biden, the president of 287 00:15:57,320 --> 00:15:58,840 Speaker 2: the United States Center. 288 00:15:59,160 --> 00:16:04,000 Speaker 1: How important is it that we get Hunter Biden on 289 00:16:04,040 --> 00:16:07,440 Speaker 1: the record publicly. It's one thing to read the transcripts. 290 00:16:07,520 --> 00:16:11,280 Speaker 1: You've read them, what's been released. I've read what's been released, 291 00:16:11,280 --> 00:16:14,560 Speaker 1: We've had reporting on it. But look, there's an aspect 292 00:16:14,640 --> 00:16:18,480 Speaker 1: of Hunter Biden that could offer, in my opinion, a 293 00:16:19,000 --> 00:16:24,640 Speaker 1: huge opportunity for conservatives to capitalize on just how corrupt 294 00:16:25,160 --> 00:16:27,760 Speaker 1: Joe Biden is because you never know what he's going 295 00:16:27,840 --> 00:16:30,800 Speaker 1: to say, or how angry he's going to get, or 296 00:16:30,840 --> 00:16:33,800 Speaker 1: how self righteous he's going to be. And part of 297 00:16:33,840 --> 00:16:35,840 Speaker 1: having a public hearing is getting to ask him those 298 00:16:35,920 --> 00:16:39,520 Speaker 1: uncomfortable questions that need to be answered. But you don't 299 00:16:39,560 --> 00:16:41,480 Speaker 1: know what he's going to do, and that is a, 300 00:16:41,920 --> 00:16:44,760 Speaker 1: I think, something the American people deserve to see. 301 00:16:44,880 --> 00:16:50,280 Speaker 2: It's incredibly important. Look, Hunter Biden, I believe is lying. 302 00:16:50,320 --> 00:16:52,280 Speaker 2: I think he lied in his closed door deposition. I 303 00:16:52,280 --> 00:16:54,200 Speaker 2: think if he has a public hearing, he will lie. 304 00:16:54,920 --> 00:16:56,800 Speaker 2: But I also think he's not a very good liar. 305 00:16:57,040 --> 00:17:04,160 Speaker 2: His lies are facially inconsistent their contradictory and competent cross 306 00:17:04,200 --> 00:17:08,640 Speaker 2: examination can demonstrate how he is lying to cover up 307 00:17:08,920 --> 00:17:12,240 Speaker 2: for his father. Now we have a closed door deposition, 308 00:17:12,280 --> 00:17:15,000 Speaker 2: we have a transcript. A transcript is dry, A transcript 309 00:17:15,040 --> 00:17:18,720 Speaker 2: is lifeless. A transcript is not going to dominate the 310 00:17:18,720 --> 00:17:21,320 Speaker 2: evening news. A transcript people are not going to watch 311 00:17:21,359 --> 00:17:24,439 Speaker 2: and see for themselves and understand the context of it. 312 00:17:24,480 --> 00:17:26,600 Speaker 2: The context of this is very much like going into 313 00:17:26,640 --> 00:17:30,080 Speaker 2: the twenty twenty election. The twenty twenty election. In October 314 00:17:30,119 --> 00:17:33,440 Speaker 2: of twenty twenty, the news broke of the Hunter Biden laptop. 315 00:17:34,520 --> 00:17:37,880 Speaker 2: The New York Post broke the story, and we saw 316 00:17:38,000 --> 00:17:41,399 Speaker 2: big tech silence and censor it. We saw Facebook and 317 00:17:41,440 --> 00:17:45,359 Speaker 2: Twitter block anyone sharing it. We saw big tech threaten 318 00:17:45,440 --> 00:17:48,320 Speaker 2: to deep platform any media outlets that reported on it, 319 00:17:48,560 --> 00:17:52,520 Speaker 2: and media outlets like Politico happily obeyed big tech and 320 00:17:52,640 --> 00:17:56,680 Speaker 2: simply kept its secret. What was in the Hunter Biden laptop? 321 00:17:56,720 --> 00:17:59,680 Speaker 2: Mind you, the Hunter Biden laptop was real, it was accurate, 322 00:17:59,680 --> 00:18:02,760 Speaker 2: it had evidence of multiple felonies. And mind you, also 323 00:18:02,800 --> 00:18:05,119 Speaker 2: the Department of Justice and the FBI knew that it 324 00:18:05,160 --> 00:18:08,159 Speaker 2: was real and accurate because they had the laptop in 325 00:18:08,240 --> 00:18:11,000 Speaker 2: their possessions and they had had it for over a year, 326 00:18:11,760 --> 00:18:14,480 Speaker 2: but particularly as you get closer to an election, their 327 00:18:14,520 --> 00:18:18,640 Speaker 2: objective is do not let the American people see things 328 00:18:18,680 --> 00:18:23,399 Speaker 2: that demonstrate Joe Biden's criminal culpability. The same thing is 329 00:18:23,440 --> 00:18:26,760 Speaker 2: true here. The reason to have Hunter Biden testify is 330 00:18:26,800 --> 00:18:29,679 Speaker 2: so the American people can look him in the eye. 331 00:18:29,960 --> 00:18:33,560 Speaker 2: You know, the American people are very good at judging credibility. 332 00:18:33,560 --> 00:18:37,120 Speaker 2: They can tell when somebody is spouting bs, they can 333 00:18:37,160 --> 00:18:40,960 Speaker 2: tell when they're not telling the truth, and it's harder 334 00:18:41,000 --> 00:18:44,159 Speaker 2: to tell that when you're reading a transcript. And so 335 00:18:44,320 --> 00:18:47,920 Speaker 2: in my view, it is critically important to get Hunter 336 00:18:48,000 --> 00:18:53,479 Speaker 2: Biden in sworn testimony alone. I actually don't think it 337 00:18:53,480 --> 00:18:56,080 Speaker 2: was a great idea to have him testifying alongside a bunch. 338 00:18:55,960 --> 00:18:56,600 Speaker 3: Of other people. 339 00:18:56,880 --> 00:18:59,119 Speaker 2: I get there's some value in saying, well, so and 340 00:18:59,160 --> 00:19:01,680 Speaker 2: so said this, how you, But I think Hunter Biden 341 00:19:01,680 --> 00:19:03,320 Speaker 2: ought to be alone at that table. I think every 342 00:19:03,400 --> 00:19:05,520 Speaker 2: question ought to be directed to him, and you can 343 00:19:05,640 --> 00:19:09,040 Speaker 2: use the answers from the other witnesses to cross examine him. 344 00:19:09,480 --> 00:19:13,560 Speaker 2: I also hope if and when Hunter testifies that there's 345 00:19:13,600 --> 00:19:16,919 Speaker 2: a degree of coordination. One of the problems when you 346 00:19:17,000 --> 00:19:19,479 Speaker 2: have a hearing is if you've got lots of individual members, 347 00:19:19,480 --> 00:19:22,359 Speaker 2: lots of House members, each of whom has five minutes, 348 00:19:23,119 --> 00:19:26,720 Speaker 2: you will often have people go on marches in one 349 00:19:26,720 --> 00:19:29,359 Speaker 2: direction or another, and they don't follow up on anything, 350 00:19:29,359 --> 00:19:31,679 Speaker 2: and it's kind of whatever any individual member wants to do, 351 00:19:31,720 --> 00:19:33,879 Speaker 2: they just ask that, and some of them are not 352 00:19:34,000 --> 00:19:36,439 Speaker 2: very good cross examiners, so they can't follow up, and 353 00:19:36,520 --> 00:19:42,560 Speaker 2: it doesn't present a coherent storyline, it doesn't systematically dismantle 354 00:19:43,080 --> 00:19:47,119 Speaker 2: the lies. What I hope is that James Comer and 355 00:19:47,280 --> 00:19:51,200 Speaker 2: or Jim Jordan the chairman, sit down with their Republican members, 356 00:19:51,760 --> 00:19:55,320 Speaker 2: that they plan out a strategy for the hearing, a 357 00:19:55,440 --> 00:19:58,600 Speaker 2: strategy for the cross examination that they assign each member 358 00:19:58,600 --> 00:20:02,760 Speaker 2: of the committee. Okay, you've got this point, this point, 359 00:20:02,800 --> 00:20:05,520 Speaker 2: Here are the questions that will be helpful to ask, 360 00:20:05,600 --> 00:20:09,399 Speaker 2: and you drive a systematic message. That's something in the 361 00:20:09,400 --> 00:20:11,920 Speaker 2: Commerce Committee. I'm the ranking member on the Senate Committee 362 00:20:11,920 --> 00:20:15,560 Speaker 2: of Commerce, Science, and Transportation. On major hearings, that's exactly 363 00:20:15,600 --> 00:20:17,920 Speaker 2: what I try to do. In the Senate Judiciary Committee, 364 00:20:18,000 --> 00:20:20,760 Speaker 2: we have done that on multiple hearings. For example, the 365 00:20:20,760 --> 00:20:24,760 Speaker 2: Brett Kavanaugh hearing that was a major fight. We sat 366 00:20:24,840 --> 00:20:28,080 Speaker 2: and we strategized exactly how we were going to handle 367 00:20:28,119 --> 00:20:31,399 Speaker 2: the cross examination, the messaging. I hope the House does that, 368 00:20:31,960 --> 00:20:37,040 Speaker 2: but none of that matters unless you get Hunter at 369 00:20:37,040 --> 00:20:42,320 Speaker 2: the witness stand, sworn in and on national television. Because listen, 370 00:20:42,320 --> 00:20:45,240 Speaker 2: if Hunter's testifying. As much as the media wants to 371 00:20:45,280 --> 00:20:48,880 Speaker 2: hide it from the American people, they cannot completely do so. 372 00:20:49,280 --> 00:20:52,200 Speaker 2: And it gives the American people the chance to decide 373 00:20:52,720 --> 00:20:55,280 Speaker 2: is the President of the United States corrupt? Has he 374 00:20:55,359 --> 00:21:00,000 Speaker 2: taken bribes from Chinese Communists, from Russians, from Ukrainians, from 375 00:21:00,200 --> 00:21:05,920 Speaker 2: from foreign oligarchs. It lets the American people decide. When 376 00:21:06,040 --> 00:21:11,000 Speaker 2: Hunter sent a WhatsApp text to a Chinese communist threatening 377 00:21:11,280 --> 00:21:15,560 Speaker 2: his father's punishment if the Chinese Communists didn't send them 378 00:21:15,600 --> 00:21:20,919 Speaker 2: millions of dollars, was Dad complicit in that shakedown? I 379 00:21:20,960 --> 00:21:24,560 Speaker 2: think the answer is obviously yes. But seeing Hunter being 380 00:21:24,600 --> 00:21:27,439 Speaker 2: forced to answer those questions goes a long way to 381 00:21:27,520 --> 00:21:30,800 Speaker 2: letting the American people decide based on the facts. 382 00:21:31,560 --> 00:21:33,480 Speaker 1: As before, if you want to hear the rest of 383 00:21:33,520 --> 00:21:36,399 Speaker 1: this conversation on this topic, you can go back and 384 00:21:36,480 --> 00:21:38,919 Speaker 1: dow the podcast from earlier this week to hear the 385 00:21:39,080 --> 00:21:43,000 Speaker 1: entire thing. I want to get back to the big story, 386 00:21:43,080 --> 00:21:45,879 Speaker 1: number three of the week. You may have missed, Senator. 387 00:21:45,920 --> 00:21:48,120 Speaker 1: While they're trying to destroy our country and not going 388 00:21:48,119 --> 00:21:50,440 Speaker 1: after the people that are breaking in, there's one thing 389 00:21:50,480 --> 00:21:53,280 Speaker 1: that is very clear, and that is public enemy number 390 00:21:53,320 --> 00:21:56,960 Speaker 1: one of this administration the Democrats, is Donald Trump. We 391 00:21:57,080 --> 00:22:00,960 Speaker 1: now are seeing them trying to break trump financial I 392 00:22:01,320 --> 00:22:04,439 Speaker 1: would assume that you would agree this is certainly a 393 00:22:04,600 --> 00:22:08,520 Speaker 1: level of election interference at shocking. But let's talk about 394 00:22:08,520 --> 00:22:12,239 Speaker 1: the money now. The ag James who said vote for 395 00:22:12,280 --> 00:22:14,080 Speaker 1: me and I'll go after Trump, is now asked the 396 00:22:14,119 --> 00:22:17,000 Speaker 1: court to deny Donald Trump's four hundred and fifty four 397 00:22:17,760 --> 00:22:24,119 Speaker 1: million dollar bond appeal. This is unprecedented in American society. 398 00:22:24,280 --> 00:22:27,200 Speaker 1: This is what would happen in communist countries, yet it's 399 00:22:27,240 --> 00:22:28,760 Speaker 1: happening right now in America. 400 00:22:29,800 --> 00:22:34,760 Speaker 2: Well, we are seeing across the country Democrat prosecutors abusing 401 00:22:34,800 --> 00:22:37,919 Speaker 2: the justice system to try to number one, destroy Donald Trump, 402 00:22:38,359 --> 00:22:42,280 Speaker 2: but to try to number two subvert democracy. They are 403 00:22:42,400 --> 00:22:45,040 Speaker 2: terrified that the voters in November will vote to re 404 00:22:45,119 --> 00:22:47,600 Speaker 2: elect Donald Trump, and so they want to abuse their 405 00:22:47,640 --> 00:22:52,560 Speaker 2: power to stop the voters from doing that. What Letitia 406 00:22:52,640 --> 00:22:55,960 Speaker 2: James has done, she ran for Attorney General promising I'm 407 00:22:56,000 --> 00:22:58,880 Speaker 2: going to get Trump, and I'll say, at least so far, 408 00:22:59,000 --> 00:23:01,560 Speaker 2: she's delivered on that. She went after him with everything 409 00:23:01,600 --> 00:23:04,439 Speaker 2: she had in a fraud case that is under a 410 00:23:04,480 --> 00:23:08,280 Speaker 2: New York statute that is really a ridiculous statute because 411 00:23:09,440 --> 00:23:14,040 Speaker 2: she alleged fraud with no victims. She alleged that he 412 00:23:14,080 --> 00:23:17,200 Speaker 2: had borrowed hundreds of millions of dollars from sophisticated banks 413 00:23:17,200 --> 00:23:22,560 Speaker 2: like Deutschebank, and Deutschebank didn't lose money. In fact, they 414 00:23:22,560 --> 00:23:25,560 Speaker 2: made money on the loans. Trump repaid the loans, and 415 00:23:25,600 --> 00:23:27,800 Speaker 2: Deutschbach said they were thrilled to make the loans and 416 00:23:27,840 --> 00:23:31,080 Speaker 2: would happily make them again. And the argument was that 417 00:23:31,160 --> 00:23:33,639 Speaker 2: he valued his real estate more than it was worth. 418 00:23:34,560 --> 00:23:39,160 Speaker 2: Deutschbach Bank is not some like poor little old lady 419 00:23:39,200 --> 00:23:43,040 Speaker 2: who's a vulnerable consumer. They're a multi billion dollar global bank. 420 00:23:43,119 --> 00:23:45,440 Speaker 2: They valued the real estate on their own damn thing. 421 00:23:45,960 --> 00:23:48,520 Speaker 2: You know, if I come in and tell tell my 422 00:23:48,600 --> 00:23:51,280 Speaker 2: mortgage company, hey, my home is worth ten million dollars, 423 00:23:52,200 --> 00:23:54,239 Speaker 2: they're gonna send their own appraiser to go figure out 424 00:23:54,280 --> 00:23:56,040 Speaker 2: what my home is worth, They're going to laugh at me. 425 00:23:56,520 --> 00:24:02,320 Speaker 2: So an alleged offense with no victim, no injury, and 426 00:24:02,400 --> 00:24:08,239 Speaker 2: no harm. The judgment with interest is four hundred and 427 00:24:08,320 --> 00:24:12,520 Speaker 2: fifty four million dollars half a billion dollars. And then 428 00:24:12,720 --> 00:24:14,600 Speaker 2: New York has a provision that you see in a 429 00:24:14,640 --> 00:24:18,080 Speaker 2: number of states that to appeal that you've got to 430 00:24:18,119 --> 00:24:20,560 Speaker 2: put the four hundred and fifty four million dollars in 431 00:24:20,760 --> 00:24:26,160 Speaker 2: cash either liquid, so either cash or securities liquid, or 432 00:24:26,320 --> 00:24:30,399 Speaker 2: you have to have a bond that covers that amount. 433 00:24:30,440 --> 00:24:32,160 Speaker 2: And so Trump went and tried to get a bond, 434 00:24:32,720 --> 00:24:36,400 Speaker 2: and he went to thirty different surety companies and all 435 00:24:36,440 --> 00:24:40,879 Speaker 2: of them turned him down, and and he filed an affidavit. 436 00:24:41,000 --> 00:24:43,920 Speaker 2: So he's raised an issue on appeal to say, look, 437 00:24:44,320 --> 00:24:47,119 Speaker 2: you can't require me to put up a half billion 438 00:24:47,200 --> 00:24:51,200 Speaker 2: dollars just to be able to appeal. And Leticia James 439 00:24:51,240 --> 00:24:53,239 Speaker 2: just opposed that and said, oh, yeah, he doesn't put 440 00:24:53,320 --> 00:24:56,119 Speaker 2: that money up, We're coming to take his property. So 441 00:24:56,119 --> 00:24:57,880 Speaker 2: I understand what she wants to do, and she wants 442 00:24:57,920 --> 00:25:00,440 Speaker 2: to do this as soon as potentially next next week. 443 00:25:00,960 --> 00:25:04,240 Speaker 2: She wants to show up and physically seize his properties, 444 00:25:04,800 --> 00:25:08,800 Speaker 2: literally go and seize properties that he has in New 445 00:25:08,880 --> 00:25:12,959 Speaker 2: York or elsewhere. It could literally come down to her 446 00:25:13,080 --> 00:25:17,000 Speaker 2: trying to essentially put a padlock on Trump Tower. And 447 00:25:17,040 --> 00:25:21,199 Speaker 2: I say that not really with hyperbole, because this is 448 00:25:21,240 --> 00:25:24,240 Speaker 2: a political jahad for her, So I think she will 449 00:25:24,240 --> 00:25:29,040 Speaker 2: look for the most visible political way to attack her opponent. 450 00:25:29,760 --> 00:25:34,600 Speaker 2: And here's here's what Trump's lawyers told the New York 451 00:25:34,640 --> 00:25:37,960 Speaker 2: Appellate Court. The attorneys wrote that, quote, it is not 452 00:25:38,160 --> 00:25:42,840 Speaker 2: possible under the circumstances presented. They said, the underwriters insisted 453 00:25:42,880 --> 00:25:47,720 Speaker 2: on cash or liquid assets instead of real estate is collateral. 454 00:25:47,800 --> 00:25:50,280 Speaker 2: So Trump has lots of real estate, but apparently the 455 00:25:50,280 --> 00:25:52,639 Speaker 2: other writers said no, it's got to be cash or 456 00:25:52,680 --> 00:25:55,200 Speaker 2: liquid and he didn't have a half billion dollars sitting around, 457 00:25:55,880 --> 00:25:59,040 Speaker 2: and they insisted on cash to cover one hundred and 458 00:25:59,119 --> 00:26:02,560 Speaker 2: twenty percent of the judgment, which is five hundred and 459 00:26:02,640 --> 00:26:09,800 Speaker 2: fifty seven million dollars. An insurance broker, Gary Giuletti wrote 460 00:26:09,800 --> 00:26:12,320 Speaker 2: in a sworn statement that quote a bond of this 461 00:26:12,520 --> 00:26:15,560 Speaker 2: size is rarely, if ever. 462 00:26:15,440 --> 00:26:16,639 Speaker 3: Seen, And. 463 00:26:18,480 --> 00:26:21,240 Speaker 2: Letitia James responded, well, no, no, that's not true. There 464 00:26:21,280 --> 00:26:26,480 Speaker 2: have been billion dollar bonds before, yes, for massive public corporations, 465 00:26:26,520 --> 00:26:30,560 Speaker 2: but Trump's business is not a public corporation. It is 466 00:26:30,640 --> 00:26:33,480 Speaker 2: a private company. And to get a half billion dollar 467 00:26:33,560 --> 00:26:39,320 Speaker 2: bond is incredibly difficult, and so understand the impact. If 468 00:26:39,320 --> 00:26:43,919 Speaker 2: Trump is not able to post this bond, the effect 469 00:26:44,119 --> 00:26:47,280 Speaker 2: would be to deny him the right to even appeal 470 00:26:48,000 --> 00:26:52,000 Speaker 2: the absurd partisan decision from the district Court. I got 471 00:26:52,040 --> 00:26:56,439 Speaker 2: to say, this is such a profound abuse. Now, that 472 00:26:56,480 --> 00:26:58,720 Speaker 2: doesn't mean Trump would be out of options, because if 473 00:26:58,720 --> 00:27:01,639 Speaker 2: the New York courts insists you got to put up 474 00:27:01,680 --> 00:27:04,320 Speaker 2: a half billion dollars in order to appeal this decision, 475 00:27:04,840 --> 00:27:07,679 Speaker 2: I am confident that Trump will appeal that and potentially 476 00:27:08,640 --> 00:27:10,880 Speaker 2: appeal that all the way to the U. S. Supreme 477 00:27:10,880 --> 00:27:13,560 Speaker 2: Court and the U. S. Supreme Court. He would have 478 00:27:13,680 --> 00:27:21,600 Speaker 2: multiple arguments constitutional arguments, including the constitution prohibits denying an individual, 479 00:27:21,720 --> 00:27:25,160 Speaker 2: depriving an individual of property without due process of law. 480 00:27:25,240 --> 00:27:27,480 Speaker 2: And there would be an argument that this is such 481 00:27:27,480 --> 00:27:33,080 Speaker 2: an excessive bond that it constitutes a violation of due process. 482 00:27:33,600 --> 00:27:35,679 Speaker 2: He would also have an argument under the Eighth Amendment. 483 00:27:35,720 --> 00:27:40,040 Speaker 2: The Eighth Amendment specifies excessive bail shall not be required, 484 00:27:40,560 --> 00:27:46,120 Speaker 2: nor excessive fines imposed, nor cruel and unusual punishments inflicted. Now, 485 00:27:46,160 --> 00:27:51,720 Speaker 2: the Eighth Amendment typically applies in a criminal context, but 486 00:27:51,800 --> 00:27:54,480 Speaker 2: given the magnitude here, I would expect him to make 487 00:27:54,960 --> 00:27:58,040 Speaker 2: both an Eighth Amendment argument and a due process argument, 488 00:27:58,320 --> 00:28:02,600 Speaker 2: and it is entirely possible that would prevail ultimately. But 489 00:28:02,760 --> 00:28:06,200 Speaker 2: what New York is doing, what the New York Attorney 490 00:28:06,280 --> 00:28:10,960 Speaker 2: General is doing, is the conduct of a banana Republic. 491 00:28:12,640 --> 00:28:15,160 Speaker 1: Kevin O'Cleary, who many b will know from Shark Tank, 492 00:28:15,320 --> 00:28:18,800 Speaker 1: not the most political guy. He talked about the business 493 00:28:18,920 --> 00:28:22,080 Speaker 1: fallout of this and asking where are the adults in 494 00:28:22,080 --> 00:28:24,399 Speaker 1: the room, because we can't let this stand in the 495 00:28:24,520 --> 00:28:27,520 Speaker 1: United States of America. Here's part of what he said, 496 00:28:27,560 --> 00:28:29,440 Speaker 1: which I thought was really interesting. 497 00:28:29,160 --> 00:28:33,480 Speaker 4: But more importantly, the message about the American brand. You 498 00:28:33,520 --> 00:28:35,760 Speaker 4: think about America, the reason this is the number one 499 00:28:35,760 --> 00:28:38,240 Speaker 4: economy on Earth is that we have laws, and we 500 00:28:38,280 --> 00:28:41,600 Speaker 4: have due process, and we have property rights. It attracts 501 00:28:41,680 --> 00:28:44,800 Speaker 4: foreign capital from all around the world. All of that 502 00:28:45,080 --> 00:28:48,800 Speaker 4: is being shaken to the core here. The concept of 503 00:28:49,160 --> 00:28:52,760 Speaker 4: seizing assets in thirty days on a bond number that's 504 00:28:52,840 --> 00:28:56,120 Speaker 4: never been issued, No insurance bond companies ever issued anything 505 00:28:56,160 --> 00:28:58,719 Speaker 4: near this, so there was no chance that was going 506 00:28:58,800 --> 00:29:02,400 Speaker 4: to happen, and only giving thirty days notice in time, 507 00:29:03,360 --> 00:29:07,200 Speaker 4: that's a really bad message, and I think New Yorker 508 00:29:07,240 --> 00:29:11,280 Speaker 4: should think well past Trump, whether he's president or not, 509 00:29:11,440 --> 00:29:14,080 Speaker 4: or whether this Attorney's General is gone in four years 510 00:29:14,160 --> 00:29:17,400 Speaker 4: or not, it's irrelevant. This is case setting against the 511 00:29:17,440 --> 00:29:23,160 Speaker 4: American brand. The most stable country on earth anywhere to 512 00:29:23,200 --> 00:29:25,840 Speaker 4: put capital work over a long period of time, particularly 513 00:29:25,920 --> 00:29:29,000 Speaker 4: in real estate, is the United States of America. This 514 00:29:29,720 --> 00:29:33,280 Speaker 4: is an assault on what we believe to be core 515 00:29:34,000 --> 00:29:38,480 Speaker 4: and I find it extraordinary. I think it's very troubling. 516 00:29:38,600 --> 00:29:41,840 Speaker 4: It has absolutely nothing to do with Donald Trump at 517 00:29:41,840 --> 00:29:45,240 Speaker 4: this point, in my view, and it is completely bipartisan. 518 00:29:46,360 --> 00:29:51,040 Speaker 4: This is an attack on America, and I don't know 519 00:29:51,080 --> 00:29:53,760 Speaker 4: how you can look at it any other way. And 520 00:29:53,840 --> 00:29:56,840 Speaker 4: as an investor, and I know plenty of investors are 521 00:29:56,880 --> 00:30:02,160 Speaker 4: completely disturbed by this. I mean, no one is going 522 00:30:02,200 --> 00:30:04,200 Speaker 4: to put any money to work in New York in 523 00:30:04,240 --> 00:30:07,720 Speaker 4: these amounts until this thing settles down. The whole world 524 00:30:07,760 --> 00:30:11,000 Speaker 4: is watching, and everybody's waiting for one thing we haven't 525 00:30:11,040 --> 00:30:13,160 Speaker 4: got yet. Adult supervision. 526 00:30:13,640 --> 00:30:14,200 Speaker 3: Where is it? 527 00:30:14,760 --> 00:30:18,960 Speaker 4: Where are the adults in this crazy narrative. Certainly there's 528 00:30:18,960 --> 00:30:21,600 Speaker 4: got to be adult supervision at some point. And I understand, 529 00:30:22,120 --> 00:30:24,960 Speaker 4: you know, the war going on here and all the 530 00:30:25,040 --> 00:30:28,120 Speaker 4: political YadA YadA, Wolf wolf wolf, But we need an 531 00:30:28,120 --> 00:30:30,880 Speaker 4: adult in the room. Now, this is the United States 532 00:30:31,280 --> 00:30:33,560 Speaker 4: of America under. 533 00:30:33,200 --> 00:30:36,920 Speaker 1: Siege, under siege. I mean, he's not joking around. He says, 534 00:30:36,920 --> 00:30:38,560 Speaker 1: where are the adults center? I'm going to ask you this, 535 00:30:38,680 --> 00:30:40,920 Speaker 1: where are the adults? At what point do the adults 536 00:30:40,920 --> 00:30:41,680 Speaker 1: get a hold of this? 537 00:30:43,360 --> 00:30:45,360 Speaker 2: Well, at this point, it's not clear to me that 538 00:30:45,360 --> 00:30:48,560 Speaker 2: there are any adults left in New York. There certainly 539 00:30:48,600 --> 00:30:51,120 Speaker 2: are not among politicians. I don't know of a single 540 00:30:51,800 --> 00:30:56,360 Speaker 2: Democrat politician who has spoken out against this abuse. Certainly 541 00:30:56,440 --> 00:30:59,560 Speaker 2: Chuck Schumer hasn't. The governor hasn't. The Mayor of New 542 00:30:59,640 --> 00:31:03,640 Speaker 2: York City, he hasn't. Leticia James is auditioning to be governor. 543 00:31:03,680 --> 00:31:06,520 Speaker 2: She's clearly ambitious. She' views this as the path to 544 00:31:06,640 --> 00:31:09,960 Speaker 2: success in the Democrat Party in New York. And I 545 00:31:10,040 --> 00:31:13,640 Speaker 2: got to say, look, I think they rationalize in their 546 00:31:13,680 --> 00:31:17,240 Speaker 2: own mind, this is a special rule just for Donald Trump. 547 00:31:17,280 --> 00:31:20,400 Speaker 2: We hate Trump so much. They think Trump is the devil, 548 00:31:21,240 --> 00:31:26,240 Speaker 2: and so this applies just to Trump. But this precedent 549 00:31:26,320 --> 00:31:29,680 Speaker 2: can apply to anyone if if simply claiming that you 550 00:31:29,800 --> 00:31:34,440 Speaker 2: overstated the value of your real estate gives the Attorney 551 00:31:34,480 --> 00:31:37,920 Speaker 2: general the justification to seize hundreds of millions or billions 552 00:31:37,920 --> 00:31:41,640 Speaker 2: of dollars, what real estate developer in their right mind 553 00:31:41,760 --> 00:31:45,040 Speaker 2: would would continue to do business. Every real estate developer, 554 00:31:45,080 --> 00:31:48,640 Speaker 2: just as a starting point is subject to this kind 555 00:31:48,680 --> 00:31:51,680 Speaker 2: of shakedown. And if you don't think that Leticia James 556 00:31:51,760 --> 00:31:55,040 Speaker 2: or the next ambitious Attorney General will use that power, 557 00:31:56,280 --> 00:32:01,920 Speaker 2: then you're smoking something because look, it is arbitrary, it's unreviewable, 558 00:32:01,920 --> 00:32:03,360 Speaker 2: and by the way, if you can't get a bond 559 00:32:03,360 --> 00:32:05,880 Speaker 2: to appeal it, there is no appellate review. So it's 560 00:32:05,920 --> 00:32:08,440 Speaker 2: the ability to shake it down. And so if she 561 00:32:08,560 --> 00:32:11,760 Speaker 2: wants to negotiate a settlement, suppose she comes in. That 562 00:32:12,040 --> 00:32:17,720 Speaker 2: gives this politician the ability to terrorize businesses, to terrorize 563 00:32:17,800 --> 00:32:22,360 Speaker 2: foreign corporations, anyone that they decide we don't like. 564 00:32:23,360 --> 00:32:23,400 Speaker 4: It. 565 00:32:24,320 --> 00:32:30,719 Speaker 2: Essentially empowers the politicians to terrorize individuals and companies and 566 00:32:30,840 --> 00:32:34,880 Speaker 2: force them to comply with whatever their demand is or 567 00:32:35,000 --> 00:32:38,440 Speaker 2: else we will seize your assets and you can't even 568 00:32:38,440 --> 00:32:43,800 Speaker 2: appeal it. And yet why is not a single Democrat 569 00:32:43,880 --> 00:32:48,480 Speaker 2: in New York worried about this or speaking out about it. 570 00:32:48,120 --> 00:32:49,400 Speaker 2: You know, it's astonishing. 571 00:32:49,880 --> 00:32:53,200 Speaker 1: As always, thank you for listening to Verdict with Center 572 00:32:53,240 --> 00:32:55,680 Speaker 1: Ted Cruz Ben Ferguson with you don't forget to deal 573 00:32:55,760 --> 00:32:58,000 Speaker 1: with my podcast and you can listen to my podcast 574 00:32:58,040 --> 00:33:00,240 Speaker 1: every other day you're not listening to Verdict or today 575 00:33:00,240 --> 00:33:02,680 Speaker 1: when you listen to Verdict. Afterwards, I'd love to have 576 00:33:02,720 --> 00:33:05,600 Speaker 1: you as a listener to again the Ben Ferguson podcasts, 577 00:33:05,640 --> 00:33:08,120 Speaker 1: and we will see you back here on Monday morning.