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Speaker 1: Why from our nations, how do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers. What

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Speaker 1: does this do? From the United States relationship with China?

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Speaker 1: Bloomberg Sound on the Inside, the influencers, the insides. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. We're looking at seventy kenneddates for different duct teams.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: Shirley on Bloomberg and one oh five point seven f

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Speaker 1: M h D two. Zuckerberg unhinged. We've got the latest

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Speaker 1: on the big tech earrings. He goes off script. He

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Speaker 1: takes a page from Tom Keeney, rips the script, blasts

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Speaker 1: Apple and Google in the testimony before the House of Representatives.

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Speaker 1: Ben Rody, Bloomberg's tech policy reporter, The Bloomberg Tech Policy Reporter.

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Speaker 1: He's gonna kick things off for us so we know

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Speaker 1: exactly what happened up on Capitol Hill today. Plus us.

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Speaker 1: The FED sticks with whatever it takes. No signs of

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Speaker 1: virus easing. J Powell. FED Chairman J. Powell delivering comments.

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Speaker 1: I will dive into the policy on that front with

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Speaker 1: Joe Crowley, former New York Congressman and Democratic Caucus Chair,

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Speaker 1: and Amos Snead. He's back executive vice president of at

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Speaker 1: Faraoh Strategic Community strategic communications firm in d C. He's

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Speaker 1: a former spokesperson and press secretary for then House Republican

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Speaker 1: Whip Roy Blood. Plus my exclusive interview with Congressman Denver Riggelman,

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Speaker 1: the Republican representing Virginia's fifth district. He's been in the

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Speaker 1: news lately. When checking out, I mean a lot. I

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Speaker 1: have a lot to catch up with Congressman Riggleman on UH.

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Speaker 1: And two other exclusives with Steph Felmant, the Biden policy advisor,

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Speaker 1: about whether or not Joe Biden wants to end fracking,

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Speaker 1: and Mercedes Slap, senior advisor to the Trump campaign, on

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Speaker 1: President Trump's um president trip to Texas. So we've got

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Speaker 1: an all star show filled with some great Uh. We're

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Speaker 1: gonna get wonky, We're gonna keep it general. Did you

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Speaker 1: hear about the big tech hearings? Mark Zuckerberg unhinged? That's

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Speaker 1: the headline on the Bloomberg terminal that he goes off

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Speaker 1: script and and just started blasting some of the other

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Speaker 1: big tech companies. Ben Brodie was all over the reporting

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Speaker 1: today Bloomberg Tech lobbying reporter Ben, give me your top

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Speaker 1: takeaways from the big tech hearings up on Capitol Hill. Uh.

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Speaker 1: Zuckerberg definitely did go a little bit rogue. He called

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Speaker 1: out some of the other CEOs that he was testifying

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Speaker 1: with from Apple, Google, Amazon, basically said, there are competitors.

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Speaker 1: You can't say that we're violating anti trust laws because

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Speaker 1: we're competing against them very robustly and in all of

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Speaker 1: these different places. Uh. The Democrats came right back at him.

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Speaker 1: They've obtained documents, including emails that he had with other executives,

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Speaker 1: and they read his words, backed him and said, were

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Speaker 1: you trying to undermine competition when you bought this company?

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Speaker 1: Were you, uh, you know, trying to take profits from

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Speaker 1: discrimination on your platform? All that kind of thing, all right?

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Speaker 1: And then the other big story that emerged was this

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Speaker 1: issue of the coronavirus and how Google was removing some

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Speaker 1: conspiracy theories. Obviously, it opens up some national security concerns

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Speaker 1: and balance that with some First Amendment concerns. Is anything

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Speaker 1: going to be done from a policy standpoint to balance.

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Speaker 1: To find that balance. I think in terms of the

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Speaker 1: coronavirus concerns, there seems to be sort of contentment that

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Speaker 1: the Democrats are going to leave that to the platforms

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Speaker 1: to decide what they're going to do to kind of

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Speaker 1: go for local public health authorities and and take their

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Speaker 1: cues from them. But I do think on the anti

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Speaker 1: trust side of it, uh, they are moving forward with

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Speaker 1: this report. They do want to recommend changes to strength

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Speaker 1: and anti trust law. Uh. And I think particularly if

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Speaker 1: Democrats aren't control in Congress next year, Uh, those recommendations

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Speaker 1: could really gain some ground. And what was this Mark

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Speaker 1: Zuckerberg accused of cloning apps to threaten rives. Wow. Yeah,

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Speaker 1: And so the basic ideas when Zuckerberg wanted to purchase

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Speaker 1: Snapchat or wanting for wanted to purchase Instagram, before he

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Speaker 1: went and sat down with the CEO, he would start

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Speaker 1: to develop kind of the futures that you have on

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Speaker 1: those apps, and then he would go to the meetings

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Speaker 1: and he would say, look, I want to acquire your guys.

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Speaker 1: Here the prices and the terms I'm thinking about, but

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Speaker 1: I just want you to know, uh, you know, if

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Speaker 1: these conversations don't go that well. But we're basically trying

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Speaker 1: to copy you and bring it onto our platform. Uh

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Speaker 1: so just think about that while you're while you're making

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Speaker 1: this deal. And they basically took that as threat that

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Speaker 1: they would be driven out of business if they didn't

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Speaker 1: sell themselves. What was the line from that Aaron's Sarcum movie?

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Speaker 1: What was it? Ben? If you if you would have

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Speaker 1: invented Facebook, you would have remember that somebody something like that. Yeah,

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Speaker 1: you know, Ben Brodie, You've been all over the story

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Speaker 1: for us, Ben Brody, Bloomberg Tech Lobbying Reporter. Can you

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Speaker 1: give us a timeline just quickly on when the next

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Speaker 1: piece of legislation or the next phase of the service

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Speaker 1: is just a lot of political theater today. Uh no, Uh,

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Speaker 1: come the fall September, October, I do uh anticipate those

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Speaker 1: recommendations to strength and Nancy chuff law. Uh. And then

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Speaker 1: it'll of course go into next year. What happens with that? Alright? Ben,

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Speaker 1: thanks for checking in with us and now switching gears.

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Speaker 1: Earlier today I caught up with the Joe Biden policy

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Speaker 1: inviser advisor for his campaign, that's Step Feldman, and I

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Speaker 1: asked her about Joe Biden's infrastructure plan and in particular

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Speaker 1: about five G take a lesson. It couldn't be more important,

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Speaker 1: and it's a corner stone of the Biden plan because

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Speaker 1: so much of federal investment goes to just the biggest cities,

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Speaker 1: and we really need to deal everyone in on the bargain.

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Speaker 1: So that's why the Vice President has a number of policies,

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Speaker 1: including UH Congressman Clyburn's ten Plan to make sure we

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Speaker 1: get investments into low income communities, to investments in infrastructure

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Speaker 1: like broad band, which is critical to making sure rural

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Speaker 1: communities are dealt into the bargain. Here step Felman joining us.

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Speaker 1: She's ahead of the policy apparatus operation inside of the

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Speaker 1: Biden campaign. You know, when I talk to Republicans, so

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Speaker 1: much of what they say and they is that the

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Speaker 1: Trump administration was able to negotiate trade deals, particularly with

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Speaker 1: Europe China. Obviously, how would the Biden can or the

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Speaker 1: Biden administration rather, how would they look at negotiating trade deals,

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Speaker 1: especially with China. Yeah, So I think my big question

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Speaker 1: for people is whom did those trade deals work? For?

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Speaker 1: President Trump? Every chance he has when he has a

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Speaker 1: decision between working for the largest multinational corporations are a workers.

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Speaker 1: He picks the largest multinational corporations, So the Vice president

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Speaker 1: will put forward a plan that is a pro American

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Speaker 1: worker tax and trade policy. Uh. Biden will get rid

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Speaker 1: of the go at a loan approach on trade that

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Speaker 1: President Trump has pursued, which we know now just doesn't work.

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Speaker 1: Trump's Phase one deal with China has simply been a

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Speaker 1: disaster for American workers and farmers farmers, and China's government

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Speaker 1: continues it's trade abuses and is failing to live up

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Speaker 1: to its commitments. Biden, on the other other hand, believes

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Speaker 1: every trade decision must be centered on building the American

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Speaker 1: middle class, creating job in raising wages, and he's not

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Speaker 1: going to pick fights with our allies. Instead, he's going

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Speaker 1: to rally our allies to work together and jointly pressure

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Speaker 1: the Chinese government and other trade abusers to follow the

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Speaker 1: rules and hold them to account when they do. That's

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Speaker 1: how you make it work for our workers. It's that

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Speaker 1: issue of alliances and rebuilding the alliances. And when I

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Speaker 1: talk to Democrats, that's what I hear all the time

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Speaker 1: is you can't have a going alone approach when negotiating

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Speaker 1: around the world, especially with Beijing. Alright, I want to

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Speaker 1: I want to talk about something very of the moment.

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Speaker 1: So many, so much of what I'm covering h Step

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Speaker 1: and we talked about this offline is the is the

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Speaker 1: back and forth between Leader McConnell and Speaker Pelos and

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Speaker 1: the administration. So many small businesses are in dire need

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Speaker 1: of some economic relief. They needed it yesterday quite honestly,

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Speaker 1: UH to to help rebuild this economy. Unfortunately, it's the

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Speaker 1: under serve communities, it's minority communities who have really taken

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Speaker 1: a hit during the shutdown, the COVID shutdown. And how

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Speaker 1: would Joe Biden, how would President Biden try to make

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Speaker 1: sure that these small businesses have access to liquidity, access

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Speaker 1: the capital immediately so that they can stay open. Yeah,

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Speaker 1: that's just so important and I'm glad to have an

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Speaker 1: opportunity to talk about it. Biden knows that small businesses

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Speaker 1: are the backbone of our economy and he won't allow

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Speaker 1: this crisis to inflict further economic pain on working families

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Speaker 1: and communities of color in particular. Just a few weeks ago,

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Speaker 1: Biden foot put forward a plan to help small businesses

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Speaker 1: get through this crisis, including by providing what we're calling

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Speaker 1: an ambitious restart package that provides small business owners support

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Speaker 1: for retaining and rehiring workers, as well as for covering

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Speaker 1: fixed costs. It also provides grants for businesses to cover

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Speaker 1: the costs of restarting in this challenging environment, which includes

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Speaker 1: things such as supplies personal protective equipment plexiglass to use

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Speaker 1: as a barrier to do transmission mists. Yesterday, Vice President

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Speaker 1: Biden rolled out a racial economic equity plan that accelerates

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Speaker 1: his investments in small businesses. This includes a special ongoing

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Speaker 1: initiative to empower especially entrepreneurs of color to succeed and grow.

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Speaker 1: One of the big pieces here is a more than

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Speaker 1: fifty billion dollar investment in additional public private venture capital

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Speaker 1: to black and brown entrepreneurs. So we are seating the

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Speaker 1: entrepreneurs of the future and making each other that we're

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Speaker 1: investing in all communities. Lastly, I want to talk about energy.

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Speaker 1: I know that this was this was a rollout over

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Speaker 1: the past couple of days and has been something that

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Speaker 1: you're focusing on your critics that the Republicans would say

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Speaker 1: they're trying to lump the Biden energy pro proposal into

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Speaker 1: the Green New Deal and saying it is very far left.

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Speaker 1: What would what is the Biden energy plan number one?

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Speaker 1: And secondly is it the Green New Deal? So this

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Speaker 1: one I want to be really clear on. There are

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Speaker 1: a lot of lies being said about the Vice President's

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Speaker 1: climate plan. For on fracking, I want to be clear.

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Speaker 1: It just is not true that Biden is supporting a

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Speaker 1: ban on fracking. He does not want to shut down

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Speaker 1: the fracking industry. What he wants to do is band

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Speaker 1: new leases on public lands. But in about fracking is

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Speaker 1: done on private lands. Anyways. Uh, the Biden does have

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Speaker 1: his own plan, which we rolled out at the beginning

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Speaker 1: of his campaign and then expanded just a few weeks ago.

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Speaker 1: This is a plan that got support from labor. It

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Speaker 1: got support from the Electrical Workers Union and the Auto

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Speaker 1: Workers Union. It also got support from the Sierra Club

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Speaker 1: and the League of Conservation Voters. You don't see anyone

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Speaker 1: else getting that type of support across the table um

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Speaker 1: from both labor and environmentalists on a climate policy that's

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Speaker 1: probably on precedent and for such a big climate practice package.

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Speaker 1: But that's the magic of Vice President Biden. He is

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Speaker 1: able to bring everyone to the table and come up

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Speaker 1: with a smart strategy. His plan is to reduce to

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Speaker 1: achieve net zero greenhouse gas emissions economy wide by with

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Speaker 1: some big near term milestones to make that happen, and

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Speaker 1: big investments because when he thinks climate, he really thinks,

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Speaker 1: this is our job creation strategy. That was Joe Biden's

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Speaker 1: senior policy advisor, Steph Feldman, and she runs all the

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Speaker 1: policy arm uh. And there it was our first interview. UH.

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Speaker 1: And coming up, we're gonna check in with Mercedes Schlap,

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Speaker 1: senior adviser to the Trump campaign. So we're gonna now

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Speaker 1: play that interview portioned on on their policies, because that's

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Speaker 1: what we tried to We're gonna trying to stick the

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Speaker 1: policy a little bit, uh and get both sides the

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Speaker 1: opportunity to make their case, so you ken decide. I'm

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Speaker 1: Kevin's really chief Washington correspondent for Bloomberg TV and Radio,

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Speaker 1: and you're listening to Bloomberg. This is Bloomberg Sound On

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Speaker 1: with Kevin Surley on Bloomberg and one oh five point

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Speaker 1: seven f m h D two. I'm Kevin Curreli, chief

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Speaker 1: Washington correspondent for Bloomberg Television and for Bloomberg Radio and

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Speaker 1: as it in Trump traveling to Texas today for a

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Speaker 1: campaign stop, but also to tout energy policy. Someone who

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Speaker 1: knows a thing or two about energy policy, given her

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Speaker 1: work in the dating back to the Bush administration, is

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Speaker 1: Mercedes Schlap, who was now, of course, on the President's

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Speaker 1: re election campaign, after having previously served as the White

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Speaker 1: House Director of Strategic Communications in the administration. Mercedes, thanks

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Speaker 1: for joining us. Kevin, you're making me feel old. You

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Speaker 1: not at all, dating back at least years or something

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Speaker 1: like that, different experienced your experience? All right, where are

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Speaker 1: your girl to prove it? So there you go. I

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Speaker 1: want to start with the president's energy policies because you

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Speaker 1: know this, I mean the president the energy sector has

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Speaker 1: taken a whack from not just the coronavirus, but the

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Speaker 1: developments overseas with Saudi Arabia. What is the President saying

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Speaker 1: today about trying to provide some certainty for the energy sector. Well,

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Speaker 1: I gotta tell you, President Trump has focused and stay

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Speaker 1: one to achieve energy independence in the United States. Uh

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Speaker 1: and and he's been able to accomplish that, which is

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Speaker 1: a big accomplishment. Who did the way he got there

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Speaker 1: was by cutting regulations and simplifying the permitting process as

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Speaker 1: well as encouraging private investment and energy infrastructure. And for

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Speaker 1: many of these states, including Texas, this this is this

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Speaker 1: is a priority because the energy industry it does provide

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Speaker 1: you know, hundreds of thousands of jobs across the board.

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Speaker 1: And here the President understands that we have to stay

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Speaker 1: uh focused on becoming the world leader in and maintaining

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Speaker 1: that status of being the world leader in oil and

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Speaker 1: natural gas production. And what we've seen, for example with

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Speaker 1: our coal experts X exports, is that that's increased by

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Speaker 1: under President Trump. So we feel very strongly that be

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Speaker 1: because of the President's policies and understanding what we needed

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Speaker 1: to do. We've become now the first time in nineteen

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Speaker 1: fifty three a net energy exporters. That's great news for

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Speaker 1: the US, that's great news for the American worker. And

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Speaker 1: that obviously is in contrast to Joe Biden very what

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Speaker 1: I would say, far left energy policies that we know

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Speaker 1: would devastate many of the businesses in the energy industry.

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Speaker 1: I want to talk about the contrast with the Biden

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Speaker 1: campaign in a second, but just to follow up here

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Speaker 1: on energy policy, the President traveling to Double Eagle Energy

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Speaker 1: that of course is one of the largest crude oil

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Speaker 1: and natural gas exploration developments in the country, and of

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Speaker 1: course it operates in the Permian Basin. And and you know,

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Speaker 1: I think it's been, as you know, for for the

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Speaker 1: Republican Party, they've always walked this tight rope between ethanol

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Speaker 1: and oil, and so both constituencies from a policy standpoint

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Speaker 1: are incredibly crucial, uh for for the Republican coalition. How

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Speaker 1: has the president been able to try to walk that

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Speaker 1: tight rope and what would a second term look like

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Speaker 1: for both of those uh, for both of those sectors.

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Speaker 1: You know, I think for the most part, when you're

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Speaker 1: talking about energy independence and energy and the energy industry

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Speaker 1: and of itself, we've seen a lot of benefits for

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Speaker 1: these energy companies. Of course, the President wants to make

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Speaker 1: sure that, uh, they take this responsibility seriously in protecting

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Speaker 1: the environment. That obviously you see you know sometimes pots

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Speaker 1: the dads on television about the work that some of

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Speaker 1: these energy businesses are doing to ensure that we're protecting

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Speaker 1: the environment while at the same time balancing that with

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Speaker 1: the economic needs of our country and and and in

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Speaker 1: asistence ensuring that we don't just devastate and destroy the

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Speaker 1: fossil fuel industry, but we are able to also be

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Speaker 1: creative and innovative in this field of clean technology and

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Speaker 1: in ensuring that these companies are taking the necessary step

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Speaker 1: to keep their workers safe obviously and also to protect

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Speaker 1: the environment. So I think the President understands that there

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Speaker 1: needs to be that balance on both sides, and so

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Speaker 1: it's why you know, he has continued to figure out

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Speaker 1: ways where we're able to roll back these job killing

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Speaker 1: regulations allow the companies to do what they need to

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Speaker 1: produce the jobs as well as to increase oil and

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Speaker 1: natural production here in the US at the same time

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Speaker 1: with focusing on what else we can do in the

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Speaker 1: energy sectors that would promote alternative energy as well. And

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Speaker 1: so much of this just in the geopolitical space just

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Speaker 1: impacted by overseas developments. Oil prices were up this morning.

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Speaker 1: We should note you mentioned the Biden campaign, uh and

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Speaker 1: and you know, when I talked to sources in the

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Speaker 1: Body campaign Mercedes, they say, no, it's not it's not

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Speaker 1: as far left as AOC. It's not. It's not the

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Speaker 1: New Green Deal. But you know, I take it that

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Speaker 1: that this is a contrast that you want to have

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Speaker 1: and on this issue, you really want to have it

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Speaker 1: heading into November. Yeah, I mean I've actually, you know,

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Speaker 1: seen some of these interviews to where they kind of

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Speaker 1: take five steps back. So but the problem is, as

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Speaker 1: you know, is the enormous amount of pressure that Joe

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Speaker 1: Biden has right now to shift to the far left.

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Speaker 1: It's why he signed the Unifying Platform, that Unity platform

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Speaker 1: where they launched a war on American America's energy independence,

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Speaker 1: where they're putting high, high levels of restrictions for those

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Speaker 1: failing to hold Uh. You know, these these companies accountable.

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Speaker 1: Their focus and goal is to mandate these net net

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Speaker 1: zero carbon emissions from homes, offices, and all new buildings

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Speaker 1: by and uh we know that it's just unrealistic expectations.

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Speaker 1: And so for them to back pedal at the Biden campaign,

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Speaker 1: to back pedal on these issues of cracking or natural

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Speaker 1: gas or where they stand. We know that Joe Biden

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Speaker 1: stands with the far left left on promoting the Green

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Speaker 1: New Deal. He made that decision when he signed his

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Speaker 1: life away to this Unity platform. Uh. That and this

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Speaker 1: Unifying Agenda that that we know Sanders is pushing forward.

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Speaker 1: I mean you're talking to the point that where he's

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Speaker 1: going in terms of putting burdensome regulations on the energy

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Speaker 1: industry as well as increasing taxes which we know would

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Speaker 1: lead to tax increases for of Americans and and killing

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Speaker 1: these close to five thousand jobs. It's very problematic for

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Speaker 1: the American worker. It's destructive to the energy industry. When

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Speaker 1: he started talking about the clean energy initiatives that he promoted,

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Speaker 1: and and again, I think it's just an unrealistic implementation

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Speaker 1: of these plans that would cost tax players. Uh, you

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Speaker 1: know a lot of money to implement this far left agenda. Alright,

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Speaker 1: and just finally, you know, this is the president's sixte

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Speaker 1: sixtee visit as president to to Texas. Uh, this is

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Speaker 1: a stage he carried uh by nine percentage points over

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Speaker 1: Hillary Clinton in two thousand and sixteen. By the way,

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Speaker 1: speaking speaking of he was in Midlands and that's where

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Speaker 1: George W. Bush Met was born and raised and met

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Speaker 1: his wife Laura. But yeah, I look at these polls.

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Speaker 1: I know you're gonna tell me we have different polls.

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Speaker 1: I get it, I get it. But the polls show

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Speaker 1: that Texas is is tightening. I mean, what do you

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Speaker 1: is Texas and danger of going blue from your You're

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Speaker 1: you're at the HQ for for the re election campaign, right, Well,

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Speaker 1: I mean our internal polls here in the campaign show

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Speaker 1: the president of very strong position in Texas. I'm gonna

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Speaker 1: say that we are not going to take any voter

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Speaker 1: for granted. Our goals to can continue a strong outreach

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Speaker 1: in many of these targeted states. Obviously, our goals to

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Speaker 1: defend the states that the president one, in addition to

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Speaker 1: expanding into states that we lost by very narrow margins,

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Speaker 1: for example, Maine where we won one congressional district, lost

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Speaker 1: the other, New Hampshire where we lost by two thousand,

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Speaker 1: seven hundred votes, Nevada that we lost by two points.

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Speaker 1: So we feel that we can gain ground in these states.

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Speaker 1: We have invested a significant amount of resources and staffing

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Speaker 1: on the ground. I last week was in both New

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Speaker 1: Hampshire and Maine and for women for Trump bus tour

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Speaker 1: and seeing the the organized volunteers in the states was impressive.

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Speaker 1: So our ground game is one that I've I've worked

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Speaker 1: on several presidential campaigns. It's the strongest I've seen. But

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Speaker 1: we're not gonna take any vote for granted. As my

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Speaker 1: as our campaign manager, built stepping and said, this is

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Speaker 1: going to be a drag out fight till the end,

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Speaker 1: and we're gonna play like we're the underdogs. And I

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Speaker 1: think if we put ourselves in that position and just

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Speaker 1: continue to aggressively campaign, uh, we will be victorious come

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Speaker 1: November three. That was Mercedes Schlap, She of course, is

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Speaker 1: the over on the President's re election campaign and the

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Speaker 1: DC Insider. Coming up next, we check in with there.

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Speaker 1: I'll start political panel and Congressman Denver Griggelman. I'm Kevin Curley,

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Speaker 1: Chief Sinne correspondent from Bloomberg TV and form Bloomberg Radio,

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Speaker 1: and you're listening to Bloomberg Now. Did I want live

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Speaker 1: from our nation's camera? How do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers? What

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Speaker 1: does this do from the United States relationship with China?

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Speaker 1: Bloomberg Sound On, the insiders, the influencers, the inside. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. You're looking at seveny Kennedys for different victories.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: surrelate on Bloomberg nine Wall and one oh five point

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Speaker 1: seven f M h D two. Mark Zuckerberg goes to Washington.

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Speaker 1: Did it all go according to plan? The latest from

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Speaker 1: the Big Tech CEO is testifying on Capitol Hill, Plus

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Speaker 1: that Chair J. Powell has some news for the coronavirus

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Speaker 1: and the economy, all of that, Plus we check in

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Speaker 1: with Congressman Denver Riggleman, Republican from Virginia. He's been in

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Speaker 1: the news lately, folks. We got a lot to talk

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Speaker 1: about the Congressman and I and me and me and

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Speaker 1: UH an all star political panel. You know, we just

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Speaker 1: heard from two insiders on the Biden and Trump campaigns,

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Speaker 1: and now we're gonna break down the president's energy speech

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Speaker 1: with Amos Snead, who of course returns to the program

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Speaker 1: after hiding from the Bloomberg radio sound on radio show

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Speaker 1: All Pandemic. He's back. He is UH executive vice president

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Speaker 1: at at Faraoh, a strategic communications firm in d C

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Speaker 1: and a former spokesperson and press secretary to then House

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Speaker 1: Republican Whip Roy Blunt. And Joe Crowley, a Bruce Springsteen

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Speaker 1: fan and former New York congressman and Democratic Caucus Chair,

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Speaker 1: He's gonna give us, Uh, what what is the compass

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Speaker 1: right now of Joe Biden's economic policy? Is it AOC

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Speaker 1: or is it the centrist? I'll ask him. Let's kick

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Speaker 1: things off with Fed Chair J Powell. The Federal Reserve

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Speaker 1: left interest rates near zero and vowed to use all

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Speaker 1: of its tools to support the recovery from an economic

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Speaker 1: downturn that share Pow called the most severe quote in

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Speaker 1: our lifetime. Wow, I mean you hear in these terms.

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Speaker 1: I'm reading, of course, of the Bloomberg Termal you hear

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Speaker 1: in these terms, and it's I've said it before, I'll

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Speaker 1: say it again. It's hard to put in perspective the

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Speaker 1: pain that so many the people we all know are

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Speaker 1: are are going through in this time. The path forward,

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Speaker 1: Chair Power continued, the path forward for the economy is

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Speaker 1: extraordinarily uncertain and will depend in large part on our

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Speaker 1: success in keeping the virus in check. Indeed, we have

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Speaker 1: seen some signs in recent weeks that the increase in

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Speaker 1: virus cases and the renewed measures to control it are

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Speaker 1: starting to weigh on economic activity. All right, So, I

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Speaker 1: mean that was the statement announcing the policy decision that

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Speaker 1: the Federal Open Market Committee repeated prior language that the

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Speaker 1: pandemic poses considerable risks to the economic outlook over the

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Speaker 1: medium term, and that the federal funds rate would remain

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Speaker 1: near zero quote until it is confident that the economy

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Speaker 1: has weathered recent events and is on track to achieve

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Speaker 1: its maximum employment and price stability goals end quote. Well,

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Speaker 1: that's where we begin tonight with Amos Sneed, executive vice

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Speaker 1: president of at Pharaoh and Republican insider, and Joe Crowley,

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Speaker 1: a former New York Congressman and Democratic Caucus Chair. Joe Congressman, Joe,

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Speaker 1: I mean, I feel like I want to call you, Joe. Um.

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Speaker 1: You know, you hear what the Fed said today in

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Speaker 1: terms of keeping the interest rates near zero for the

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Speaker 1: foreseeable future, and then I'm checking him with my sources

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Speaker 1: up on capitoil. I mean, there's still worlds apart from

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Speaker 1: getting an economic stimulus deal, and I just wonder if

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Speaker 1: if doing a piecemeal approach is something Speaker Pelosi could

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Speaker 1: get her caucus behind in order to just provide some

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Speaker 1: relief for folks by the end of the week. You

431
00:24:56,160 --> 00:25:00,560
Speaker 1: always interesting, Uh, Kevin filled this no ship of doing

432
00:25:00,600 --> 00:25:03,720
Speaker 1: something piecemeal? Uh? The virus isn't coming at us at

433
00:25:03,720 --> 00:25:07,119
Speaker 1: a piecemeal rate. It's coming at us whoppingly uh and

434
00:25:07,280 --> 00:25:12,640
Speaker 1: unrelenting LYE. And you know the House passed uh their

435
00:25:13,119 --> 00:25:16,680
Speaker 1: version of co of cares two or three or four

436
00:25:17,359 --> 00:25:19,960
Speaker 1: uh when it passed the Heroes Act, which was an

437
00:25:20,000 --> 00:25:24,400
Speaker 1: incredibly um you know, the raciust built to attack uh,

438
00:25:24,560 --> 00:25:27,760
Speaker 1: you know, of a racist virus. And the response has

439
00:25:27,840 --> 00:25:30,679
Speaker 1: taken ten weeks by the Republican leadership of the Senate

440
00:25:31,080 --> 00:25:32,720
Speaker 1: can out with the bill that doesn't even have the

441
00:25:32,880 --> 00:25:37,040
Speaker 1: support of the Republican conference in the US Senate. It

442
00:25:37,080 --> 00:25:41,359
Speaker 1: really is remarkable to show stilly effectlessness on behalf of

443
00:25:41,840 --> 00:25:44,679
Speaker 1: Republican leadership here, not being able to come together or

444
00:25:44,680 --> 00:25:48,399
Speaker 1: be unified behind a bill. Uh and to stand uh,

445
00:25:48,920 --> 00:25:52,520
Speaker 1: you know, strongly behind what Mitch mccamwells presented. But what

446
00:25:52,560 --> 00:25:57,040
Speaker 1: the frenchchair is saying is that you know, this is unprecedented, um.

447
00:25:57,160 --> 00:26:00,880
Speaker 1: The effects of this virus honor economy, and the response

448
00:26:01,359 --> 00:26:03,200
Speaker 1: needs to be impressent. And I think as well, and

449
00:26:03,200 --> 00:26:06,120
Speaker 1: I think that's what the housemercartical leadership and the House

450
00:26:06,119 --> 00:26:09,680
Speaker 1: stems of showing them by passing the Heroes Act. Amos,

451
00:26:09,720 --> 00:26:15,280
Speaker 1: what was the strategy behind Senate Senate Leader McConnell. Senate

452
00:26:15,280 --> 00:26:20,560
Speaker 1: Majority Leader McConnell to release a proposal with a good

453
00:26:20,760 --> 00:26:24,800
Speaker 1: fraction of the Republican caucus in the Upper Chamber really

454
00:26:24,960 --> 00:26:27,000
Speaker 1: divided on it. I mean, what was it? Was it

455
00:26:27,040 --> 00:26:30,240
Speaker 1: intentional or or or was it just this is the

456
00:26:30,240 --> 00:26:33,440
Speaker 1: reality and we're up against the clock. Hey, Kevin, I

457
00:26:33,440 --> 00:26:34,960
Speaker 1: don't think I ever want to be in a position

458
00:26:35,000 --> 00:26:39,600
Speaker 1: giving a political advice. McConnell or me neither. So I

459
00:26:39,640 --> 00:26:41,639
Speaker 1: mean there there had to be some strategy to it.

460
00:26:41,880 --> 00:26:44,360
Speaker 1: And again, as it was rolled out yesterday, you did

461
00:26:44,440 --> 00:26:47,080
Speaker 1: kind of see in this week, um, you know, Washington

462
00:26:47,119 --> 00:26:49,120
Speaker 1: kind of looked at it a little awkwardly about how

463
00:26:49,119 --> 00:26:51,200
Speaker 1: it was rolled out and who will end up negotiating

464
00:26:51,240 --> 00:26:53,640
Speaker 1: this towards the end. But I think if you look

465
00:26:53,640 --> 00:26:57,000
Speaker 1: at what Powell's remarks for today, it's something that Congress

466
00:26:57,040 --> 00:26:59,120
Speaker 1: will keep their eye on as they work towards a deal.

467
00:26:59,200 --> 00:27:01,240
Speaker 1: And I agree with uh with cars from Crown, I

468
00:27:01,240 --> 00:27:04,359
Speaker 1: mean it sounds like they are pretty far apart right now.

469
00:27:05,000 --> 00:27:07,600
Speaker 1: And and so what is it going to take that amos?

470
00:27:07,600 --> 00:27:09,080
Speaker 1: I mean to follow up there, what is it going

471
00:27:09,119 --> 00:27:12,040
Speaker 1: to take to to get to garner some of that

472
00:27:12,080 --> 00:27:14,720
Speaker 1: Republican support because it seems that there's a line in

473
00:27:14,720 --> 00:27:17,520
Speaker 1: the sand for the Democrats of red line in terms

474
00:27:17,520 --> 00:27:20,760
Speaker 1: of the unemployment benefits and the six d dollar extending

475
00:27:20,800 --> 00:27:24,240
Speaker 1: that to the unemployment benefits, and then you've got this

476
00:27:24,280 --> 00:27:28,760
Speaker 1: additional issue of providing funds to state and local governments.

477
00:27:28,800 --> 00:27:31,480
Speaker 1: I think it's it's it's a it's a couple billion

478
00:27:31,520 --> 00:27:35,000
Speaker 1: dollars that the that the that the Democrats are calling for,

479
00:27:35,080 --> 00:27:39,720
Speaker 1: and Republicans are just saying, well, the fiscal or the

480
00:27:40,119 --> 00:27:43,960
Speaker 1: ultra conservative on the economy, Republicans are saying, no, that's

481
00:27:43,960 --> 00:27:46,159
Speaker 1: too much money. And so I just don't even know.

482
00:27:46,200 --> 00:27:48,359
Speaker 1: I mean, this is just this is this isn't even

483
00:27:48,400 --> 00:27:54,800
Speaker 1: like we're debating pennies here, They're debating monumental ideological direction

484
00:27:54,960 --> 00:27:59,280
Speaker 1: of the economy issues. I don't remember ever covering a

485
00:27:59,320 --> 00:28:02,439
Speaker 1: story quite like us, even during the shutdown, or covering

486
00:28:02,440 --> 00:28:04,760
Speaker 1: a story like this that was moving so quickly. I mean,

487
00:28:04,840 --> 00:28:07,399
Speaker 1: each hour, each day is a completely different news cycle.

488
00:28:07,480 --> 00:28:09,720
Speaker 1: But I think you're right, I mean, they are completely

489
00:28:09,720 --> 00:28:13,960
Speaker 1: there's stark differences between a three trillion dollar proposal from

490
00:28:13,960 --> 00:28:17,199
Speaker 1: Democrats and a one trillion dollar counter or from Republicans.

491
00:28:17,240 --> 00:28:18,560
Speaker 1: But I think you also have to look at this.

492
00:28:18,600 --> 00:28:21,639
Speaker 1: You know, we've seen Manuchian negotiate several of these deals

493
00:28:21,720 --> 00:28:24,479
Speaker 1: during the Trump presidency, and now you have Meadows up

494
00:28:24,480 --> 00:28:26,760
Speaker 1: there working with congressional leadership. So I mean, it's gonna

495
00:28:26,760 --> 00:28:29,200
Speaker 1: be interesting to watch, but I think it's gonna move

496
00:28:29,200 --> 00:28:30,919
Speaker 1: a lot faster. But if you're looking at it, I

497
00:28:30,960 --> 00:28:34,040
Speaker 1: do agree with Congressman Crowley. They are far apart right now,

498
00:28:34,040 --> 00:28:36,439
Speaker 1: and there are some stark differences. Well, Congressman, who are

499
00:28:36,440 --> 00:28:39,200
Speaker 1: they negotiating with? I mean, if you're Speaker Pelosi, is

500
00:28:39,200 --> 00:28:41,800
Speaker 1: she is she negotiating with Leader McConnell or is she

501
00:28:41,880 --> 00:28:46,000
Speaker 1: negotiating with Secretary Manution? Are they on the same page? Well,

502
00:28:46,080 --> 00:28:48,440
Speaker 1: right there, I think the speakers negotiating too of the

503
00:28:48,440 --> 00:28:53,480
Speaker 1: American public with our releases in the statements. Um. But

504
00:28:54,040 --> 00:29:00,000
Speaker 1: clearly Lucian uh was up with the chief of staff

505
00:29:00,160 --> 00:29:03,600
Speaker 1: up to Pelosi's office. UM, that's what I had some

506
00:29:03,640 --> 00:29:05,960
Speaker 1: of their initial conversation. I know they would owe to

507
00:29:06,000 --> 00:29:09,000
Speaker 1: report to the Senate side and couldn't find Ms McConnell

508
00:29:09,360 --> 00:29:13,800
Speaker 1: yesterday evening to report back what the results were of that. Um.

509
00:29:13,880 --> 00:29:16,760
Speaker 1: But I do think that there's they are far apart.

510
00:29:16,840 --> 00:29:19,760
Speaker 1: There's no question about that. And when I look at

511
00:29:19,920 --> 00:29:22,360
Speaker 1: you know, Pelosi has said they'll build, there will be

512
00:29:22,400 --> 00:29:24,960
Speaker 1: no red lines. She's not drawing any red lines, whether

513
00:29:25,000 --> 00:29:29,480
Speaker 1: it's on indemnification or or you know, in terms of

514
00:29:29,560 --> 00:29:32,920
Speaker 1: covering businesses in terms of COVID um. And at the

515
00:29:32,960 --> 00:29:35,320
Speaker 1: same time, you know, she has been very strong in

516
00:29:35,440 --> 00:29:38,320
Speaker 1: terms of the unemployment as well as aid the state

517
00:29:38,360 --> 00:29:41,640
Speaker 1: and localities. Uh. And it's not just a couple of billion, Kevin,

518
00:29:41,840 --> 00:29:45,320
Speaker 1: it's in the multiple tens of billions that the states

519
00:29:45,360 --> 00:29:46,760
Speaker 1: need to look at. A state like New York that

520
00:29:46,840 --> 00:29:51,960
Speaker 1: got really hurt a badly passes. The twenty eighteen tax

521
00:29:52,360 --> 00:29:56,000
Speaker 1: bill that the President put through that really eliminate deduction

522
00:29:56,040 --> 00:29:57,960
Speaker 1: of state local taxes was hurt in New York. And

523
00:29:58,000 --> 00:30:00,680
Speaker 1: now you add on to that, uh, not helping New

524
00:30:00,720 --> 00:30:03,960
Speaker 1: York really deal with the COVID crisis. The can't the

525
00:30:04,080 --> 00:30:06,280
Speaker 1: can't to claim back from seeing and at the same

526
00:30:06,320 --> 00:30:09,240
Speaker 1: time you have to make cuts or raised taxes enormously.

527
00:30:09,600 --> 00:30:12,000
Speaker 1: Another which is you know, it's it's hurting both Democrats

528
00:30:12,080 --> 00:30:15,520
Speaker 1: Republican and that immediately to be addressed. Yeah, we're gonna

529
00:30:15,520 --> 00:30:17,040
Speaker 1: have to leave it right there. Stick around because we're

530
00:30:17,040 --> 00:30:18,720
Speaker 1: gonna talk much more about this as well as the

531
00:30:18,720 --> 00:30:21,920
Speaker 1: big tech hearings with Amos and Joe Crowley. I'm Kevin Sirelli.

532
00:30:22,000 --> 00:30:32,160
Speaker 1: You're listening to Bloomberg not one. This is Bloomberg Sound

533
00:30:32,200 --> 00:30:36,760
Speaker 1: on with Kevin Surrele on Bloomberg and one oh five

534
00:30:36,800 --> 00:30:41,040
Speaker 1: point seven f M H D two. I'm Kevin CURRELLI

535
00:30:41,720 --> 00:30:46,200
Speaker 1: Chief Washington corresponded for Bloomberg Television after Bloomberg Radio. Is

536
00:30:46,240 --> 00:30:48,760
Speaker 1: anyone else think this week is just going so slow?

537
00:30:49,320 --> 00:30:53,440
Speaker 1: I mean, you know, so much news happening. Uh. Joining

538
00:30:53,560 --> 00:30:56,640
Speaker 1: us on the lot, on the line, on the panel

539
00:30:56,880 --> 00:31:00,120
Speaker 1: to help us navigate through these virtuals socially, this and

540
00:31:00,640 --> 00:31:04,280
Speaker 1: virtual times that we're all living in. Is Joe Crowley,

541
00:31:04,280 --> 00:31:07,000
Speaker 1: former New York Congressman and Democratic Caucus Chair And Amos Snead,

542
00:31:07,240 --> 00:31:11,040
Speaker 1: executive vice president of at Faraoh Strategic Communications Firm in

543
00:31:11,160 --> 00:31:14,200
Speaker 1: d C. He's former spokesperson and Press Secretary to the

544
00:31:14,320 --> 00:31:17,400
Speaker 1: House Republican with Roy Blunt. Amos, where have you been?

545
00:31:17,840 --> 00:31:20,320
Speaker 1: You know? You you're like, you know, come on the

546
00:31:20,360 --> 00:31:22,840
Speaker 1: show anymore. I said to Baratta the other day in

547
00:31:22,840 --> 00:31:26,520
Speaker 1: the staff meeting, I said, where's remember Amos Snead, I said,

548
00:31:26,520 --> 00:31:28,600
Speaker 1: do you remember that guy used to always come on

549
00:31:28,680 --> 00:31:31,760
Speaker 1: and give us his insights? Whatever happened? Where where are

550
00:31:31,800 --> 00:31:35,360
Speaker 1: you like in the woods, Kevin. I've I've had the

551
00:31:36,000 --> 00:31:38,760
Speaker 1: Joe Biden approach to COVID. I've been staying in my mouth,

552
00:31:39,560 --> 00:31:43,600
Speaker 1: no media interviews. I rarely go outside. There's no no

553
00:31:43,720 --> 00:31:47,080
Speaker 1: chance for us. That's my plan. I'm coming to you

554
00:31:47,200 --> 00:31:50,560
Speaker 1: live right now from Capitol Hill only wow, beat away

555
00:31:50,600 --> 00:31:52,600
Speaker 1: from Call your Mother and Bagels, which I heard a

556
00:31:52,640 --> 00:31:56,880
Speaker 1: plug for during one day intros. Are they open? They

557
00:31:56,920 --> 00:32:00,560
Speaker 1: are open for takeout only interesting? But I say, you know,

558
00:32:00,840 --> 00:32:03,360
Speaker 1: all right, well he's back, He's back. All right. I

559
00:32:03,400 --> 00:32:07,800
Speaker 1: want to talk to you about some some the big

560
00:32:07,840 --> 00:32:10,080
Speaker 1: story up on Capitol Hill today, which in addition, of

561
00:32:10,120 --> 00:32:13,200
Speaker 1: course to the economic stimulus, was the big tech hearings

562
00:32:13,480 --> 00:32:16,080
Speaker 1: UH that had gone on. And you have Mark Zuckerberg

563
00:32:16,520 --> 00:32:18,800
Speaker 1: up there, and it's the lead story on the terminal

564
00:32:19,320 --> 00:32:22,320
Speaker 1: UH in terms of him going off script and blasting

565
00:32:22,440 --> 00:32:27,040
Speaker 1: Apple and Google in his testimony, and it's it's really

566
00:32:27,120 --> 00:32:30,680
Speaker 1: been remarkable. And earlier in the program, gentleman, we spoke

567
00:32:30,680 --> 00:32:32,640
Speaker 1: with my colleague Ben Brody, who of course is the

568
00:32:33,160 --> 00:32:36,280
Speaker 1: big tech lobbying reporter here at Bloomberg. He's been all

569
00:32:36,280 --> 00:32:39,880
Speaker 1: over the story and his timeline is that come the fall,

570
00:32:40,480 --> 00:32:45,800
Speaker 1: there could actually be these antitrust regulation recommendations from Capitol Hill.

571
00:32:46,320 --> 00:32:49,800
Speaker 1: And I'll read now from some of his team's reporting

572
00:32:49,840 --> 00:32:53,520
Speaker 1: Kurt Wagner and Alex Webb quote. During today's testimony before

573
00:32:53,640 --> 00:32:57,240
Speaker 1: Congressional Anti Trust Panel, Mark Zuckerberg went off script a

574
00:32:57,240 --> 00:33:00,200
Speaker 1: little bit, at least the script we expected, pointing out

575
00:33:00,240 --> 00:33:06,360
Speaker 1: how Facebook Inc. Lags behind a number of competitors, including Alphabet, Amazon,

576
00:33:06,560 --> 00:33:09,880
Speaker 1: and Apple. Zuckerberg isn't hesitating to use some sharp elbows,

577
00:33:10,160 --> 00:33:13,600
Speaker 1: pointing out that Amazon is the fastest growing advertising platform

578
00:33:13,680 --> 00:33:16,560
Speaker 1: and Google is the biggest. Okay, I want to start

579
00:33:16,600 --> 00:33:20,600
Speaker 1: with Joe Crowley here because Joe, I mean you hear this.

580
00:33:20,920 --> 00:33:26,000
Speaker 1: And sometimes the big banks take the approach of well,

581
00:33:26,040 --> 00:33:29,200
Speaker 1: we're all just gonna fight this battle together against Washington,

582
00:33:29,280 --> 00:33:34,320
Speaker 1: d C and big tech. It's everyone for themselves. Wow,

583
00:33:35,920 --> 00:33:39,400
Speaker 1: a new new definition of throwing people under the bus?

584
00:33:39,840 --> 00:33:42,760
Speaker 1: Only in Washington? Can there be a new definition of

585
00:33:42,920 --> 00:33:46,120
Speaker 1: role of of of throwing someone under the bus. Go ahead,

586
00:33:46,360 --> 00:33:48,360
Speaker 1: and the only thing I can I can figure that Amazon,

587
00:33:48,400 --> 00:33:50,880
Speaker 1: Google and Twitter, they all hate Marvin Zuckerberg. You know,

588
00:33:50,960 --> 00:33:54,760
Speaker 1: it's like, um, but you know, at the end, Kevin,

589
00:33:54,920 --> 00:33:58,000
Speaker 1: it is it is something remarkable. And you think about

590
00:33:58,000 --> 00:34:01,800
Speaker 1: webby arm this world where know, billions of people around

591
00:34:01,800 --> 00:34:06,880
Speaker 1: the world have relied upon these platforms for news, information

592
00:34:06,960 --> 00:34:09,319
Speaker 1: and for the dissemination of it and to speak to

593
00:34:09,360 --> 00:34:12,680
Speaker 1: each other. You know, it's remarkable what's happened. Um. And

594
00:34:12,719 --> 00:34:15,040
Speaker 1: I do think that oversight is necessary. I think that

595
00:34:15,200 --> 00:34:19,920
Speaker 1: what David Cicelini, you know, Jerry Dadler and Pavile, John

596
00:34:20,040 --> 00:34:22,719
Speaker 1: Paul with the big Tree, big ones here today, I

597
00:34:22,800 --> 00:34:25,520
Speaker 1: think they've all have been pretty consistent in terms of

598
00:34:25,880 --> 00:34:29,799
Speaker 1: really policing to some degree, which is which is responsibility

599
00:34:29,800 --> 00:34:32,280
Speaker 1: to Congress, And there was an oversight of this industry,

600
00:34:32,320 --> 00:34:34,560
Speaker 1: and I think they'll take appropriate action in my sense.

601
00:34:34,880 --> 00:34:37,520
Speaker 1: And Avis, I mean just from you know, you know

602
00:34:37,840 --> 00:34:41,960
Speaker 1: the energy sector so well, and and typically it's very atypical.

603
00:34:42,560 --> 00:34:45,520
Speaker 1: I don't I can't really think of any other industry

604
00:34:45,520 --> 00:34:50,480
Speaker 1: where the big companies wouldn't all be speaking from the

605
00:34:50,520 --> 00:34:53,240
Speaker 1: same playbook. And and this has been the trend for

606
00:34:53,239 --> 00:34:56,000
Speaker 1: for big tech. They've been the anomaly where they've all

607
00:34:56,080 --> 00:34:58,960
Speaker 1: been openly fighting with each other and as my colleagues

608
00:34:59,000 --> 00:35:04,080
Speaker 1: point out, it's because the perception amongst the Washington crowd

609
00:35:04,200 --> 00:35:08,279
Speaker 1: is that the antitrust cases against Google and Facebook are

610
00:35:08,320 --> 00:35:11,680
Speaker 1: potentially stronger reading from the Bloomberg terminal then the cases

611
00:35:11,719 --> 00:35:14,799
Speaker 1: against Apple. And we're just a few months away from

612
00:35:14,880 --> 00:35:18,640
Speaker 1: policy proposals from Chairman Cicilini. You know, we've had on

613
00:35:18,680 --> 00:35:22,759
Speaker 1: the program before from him unveiling these types of proposals.

614
00:35:22,760 --> 00:35:25,879
Speaker 1: But wow, and then if all that wasn't enough, they're

615
00:35:25,880 --> 00:35:29,400
Speaker 1: getting whacked from the right, amos. But for for freedom

616
00:35:29,400 --> 00:35:33,640
Speaker 1: of speech. You know, Kevin is a communication staff from

617
00:35:33,680 --> 00:35:36,040
Speaker 1: my entire career. You never it just makes me cringe

618
00:35:36,040 --> 00:35:39,480
Speaker 1: when I hear the words all scripts during the congressional testimony.

619
00:35:40,400 --> 00:35:43,279
Speaker 1: Usually that doesn't usually turn out well. But yeah, I

620
00:35:43,280 --> 00:35:45,480
Speaker 1: mean hey, And by the way, props to Ben Brody,

621
00:35:45,560 --> 00:35:48,760
Speaker 1: one of the best reporters out there covering the policy

622
00:35:48,840 --> 00:35:51,719
Speaker 1: lord of the flies battle we're seeing right now. Um

623
00:35:51,800 --> 00:35:53,520
Speaker 1: but I think all I think you're right. All of

624
00:35:53,560 --> 00:35:57,440
Speaker 1: this is positioning for anti trust hearing and even if

625
00:35:57,440 --> 00:35:59,840
Speaker 1: you can look at some of Facebook's previous actions, you know,

626
00:36:00,040 --> 00:36:02,920
Speaker 1: and um mark up work went on with Dana Purrino

627
00:36:03,040 --> 00:36:05,200
Speaker 1: to make some news on Fox News and they were

628
00:36:05,239 --> 00:36:09,120
Speaker 1: criticized for using that platform. But all of this is

629
00:36:09,200 --> 00:36:12,480
Speaker 1: positioning for down the road. But it is very interesting

630
00:36:12,520 --> 00:36:15,640
Speaker 1: to watch with you've watched financial services industry. You watch

631
00:36:15,719 --> 00:36:18,800
Speaker 1: the industry industry, most of them during these hearings, and

632
00:36:18,840 --> 00:36:20,840
Speaker 1: they'll stand side by side and kind to defend the

633
00:36:20,840 --> 00:36:23,680
Speaker 1: industry together. That is not the case from what we

634
00:36:23,719 --> 00:36:26,440
Speaker 1: saw today. No, it's not. And then you've got TikTok

635
00:36:26,719 --> 00:36:29,279
Speaker 1: trying to go ahead. Joe. No, no, I think he's

636
00:36:29,320 --> 00:36:31,320
Speaker 1: I think it was absolutely right, dude. You know what

637
00:36:31,480 --> 00:36:34,080
Speaker 1: my experiencing Capital Hill is that when when they're all

638
00:36:34,120 --> 00:36:36,440
Speaker 1: being attacked, they all kind of hunkered down together. And

639
00:36:36,480 --> 00:36:39,200
Speaker 1: that's not in the experience here that at all. And

640
00:36:39,200 --> 00:36:43,280
Speaker 1: and then you get the just how unlike the financial

641
00:36:43,280 --> 00:36:48,399
Speaker 1: services industry and unlike the energy sector. Uh, it's you've

642
00:36:48,400 --> 00:36:50,399
Speaker 1: got apps from all around the world. Look no further

643
00:36:50,440 --> 00:36:54,080
Speaker 1: than TikTok, which of course is also thrust itself into

644
00:36:54,080 --> 00:36:57,759
Speaker 1: the spotlight here. And they were going after Facebook today.

645
00:36:57,880 --> 00:37:01,640
Speaker 1: Uh And and and you know, of course we've all

646
00:37:02,080 --> 00:37:05,200
Speaker 1: heard about what the President and Secretary Pompeo have said

647
00:37:05,320 --> 00:37:08,960
Speaker 1: with regards to TikTok and raising concerns about China having

648
00:37:09,200 --> 00:37:13,200
Speaker 1: ownership of TikTok and and the information sharing as it

649
00:37:13,200 --> 00:37:15,759
Speaker 1: relates to that. I think from a policy standpoint, though,

650
00:37:16,120 --> 00:37:18,440
Speaker 1: it's difficult to track this, you know, unless you're Ben

651
00:37:18,480 --> 00:37:22,319
Speaker 1: Brody because he's the reporter. But it's difficult to track

652
00:37:22,400 --> 00:37:26,759
Speaker 1: this because when will the policy actually be rolled out,

653
00:37:26,760 --> 00:37:29,680
Speaker 1: and if it comes out in the fall, it I

654
00:37:29,719 --> 00:37:31,960
Speaker 1: can't stress this enough. I mean, if you're outside of

655
00:37:32,000 --> 00:37:36,000
Speaker 1: Washington and trying to figure out just the policy forecast here,

656
00:37:36,920 --> 00:37:40,160
Speaker 1: it's gonna be incredibly different if there's Democrats controlling both

657
00:37:40,239 --> 00:37:42,960
Speaker 1: chambers in the White House versus divided government. And so

658
00:37:43,040 --> 00:37:46,160
Speaker 1: I think, really the strategy right now, based upon what

659
00:37:46,239 --> 00:37:49,279
Speaker 1: I'm told and what I can observe, is fight it out,

660
00:37:49,840 --> 00:37:54,160
Speaker 1: get to November three, and then let the dust settle.

661
00:37:54,560 --> 00:37:58,560
Speaker 1: Coming up, we're gonna check in with a Congressman, Denver Riggleman.

662
00:37:59,000 --> 00:38:01,720
Speaker 1: I'm gonna talk all things is about that. I guess

663
00:38:01,719 --> 00:38:04,360
Speaker 1: I drive through convention the other month. I don't even

664
00:38:04,880 --> 00:38:07,359
Speaker 1: I didn't. I have a lot of questions about that.

665
00:38:07,440 --> 00:38:10,359
Speaker 1: And of course the latest on the economic stimulus. He's

666
00:38:10,360 --> 00:38:12,680
Speaker 1: going to give us his take on that. UH panel

667
00:38:12,719 --> 00:38:15,440
Speaker 1: stays they gotta break that conversation down with me. I'm

668
00:38:15,520 --> 00:38:18,799
Speaker 1: Kevin Sireli Chief watched to correspondent from Bloomberg Television and

669
00:38:18,880 --> 00:38:28,680
Speaker 1: from Bloomberg Radio, and you're listening to Bloomberg. This is

670
00:38:28,719 --> 00:38:34,040
Speaker 1: Bloomberg Sound On with Kevin Surrele on Bloomberg and one

671
00:38:34,040 --> 00:38:37,000
Speaker 1: oh five point seven m h D two. I've got

672
00:38:37,040 --> 00:38:40,560
Speaker 1: a lot of questions for our next guest, Congressman Denver Ragilman,

673
00:38:40,719 --> 00:38:43,799
Speaker 1: a Republican from Virginia, and I just want to get

674
00:38:43,840 --> 00:38:47,080
Speaker 1: right into it. Congressman, thanks for joining us. Hey, it's

675
00:38:47,080 --> 00:38:49,080
Speaker 1: great to be here, buddy. All Right, I gotta first

676
00:38:49,120 --> 00:38:52,600
Speaker 1: ask you about this drive through convention and what the

677
00:38:52,600 --> 00:38:57,160
Speaker 1: heck happened and what your future plans are for post

678
00:38:57,280 --> 00:39:01,480
Speaker 1: November three? Just where where is Denver ray Goldman today?

679
00:39:01,520 --> 00:39:04,919
Speaker 1: In relation to that drive through convention from the other

680
00:39:05,320 --> 00:39:10,080
Speaker 1: month in which I guess you lost to some to

681
00:39:10,560 --> 00:39:13,480
Speaker 1: your opponent and and I can't call it a primary

682
00:39:13,800 --> 00:39:16,560
Speaker 1: because it was a drive through convention. Where was it

683
00:39:16,680 --> 00:39:20,360
Speaker 1: like McDonald's. I don't I still don't really understand. It

684
00:39:20,440 --> 00:39:23,200
Speaker 1: was in a church parking lot about five minutes from

685
00:39:23,200 --> 00:39:27,040
Speaker 1: his house. So what happens is is that the committees

686
00:39:27,040 --> 00:39:30,960
Speaker 1: in Virginia control everything, right, it's not a state run process.

687
00:39:31,000 --> 00:39:33,880
Speaker 1: It doesn't have to be. So if a committee member

688
00:39:33,920 --> 00:39:37,200
Speaker 1: or committee chair doesn't like you, they'll try to do

689
00:39:37,239 --> 00:39:39,319
Speaker 1: something ridiculous to get you out of regardless of how

690
00:39:39,360 --> 00:39:42,200
Speaker 1: well you're serving. Because you were you refused to pay

691
00:39:42,239 --> 00:39:44,799
Speaker 1: them off, You refused to you know, be part of

692
00:39:44,800 --> 00:39:47,320
Speaker 1: their little click or the little you know, a little

693
00:39:47,360 --> 00:39:50,320
Speaker 1: posse that they have. So I'm not much of a

694
00:39:50,320 --> 00:39:55,319
Speaker 1: guy to kiss anybody's ring. So they people just enfranchised

695
00:39:55,320 --> 00:39:58,120
Speaker 1: a couple hundred thousand trying to get trying to make

696
00:39:58,120 --> 00:40:01,000
Speaker 1: sure the um perio is where people can sign up

697
00:40:01,040 --> 00:40:03,640
Speaker 1: is really low, and then after that try to kick

698
00:40:03,680 --> 00:40:05,600
Speaker 1: out somebody they don't like. And that's what happened. And

699
00:40:05,640 --> 00:40:08,160
Speaker 1: so Bob Good, who now is a former Campbell County

700
00:40:08,280 --> 00:40:12,200
Speaker 1: supervisor and former employee of the Liberty University Athletics department.

701
00:40:12,640 --> 00:40:16,680
Speaker 1: Uh he will, I guess be the nomination? What what

702
00:40:16,719 --> 00:40:20,640
Speaker 1: are you? What are you planning in terms of your future? Uh? Where? Where?

703
00:40:20,640 --> 00:40:22,319
Speaker 1: What are are you going to go in the private sector?

704
00:40:22,320 --> 00:40:24,000
Speaker 1: I know you have a small business with your family,

705
00:40:24,440 --> 00:40:27,480
Speaker 1: but what where? Where is Denver Rigaman in terms of

706
00:40:27,520 --> 00:40:30,360
Speaker 1: his future is there a political future in your in

707
00:40:30,440 --> 00:40:35,200
Speaker 1: your crystal ball, I don't even know what that that says. Well,

708
00:40:35,520 --> 00:40:38,200
Speaker 1: I think there is. I think there is. You know,

709
00:40:38,239 --> 00:40:41,640
Speaker 1: most people want me to run statewide. And that's really

710
00:40:41,640 --> 00:40:44,560
Speaker 1: when it comes down to, because you know, I didn't

711
00:40:44,600 --> 00:40:48,120
Speaker 1: have much of a real election. Um, it wasn't a primary,

712
00:40:48,480 --> 00:40:51,719
Speaker 1: it wasn't a convention. I sort of got booted out

713
00:40:51,719 --> 00:40:55,319
Speaker 1: in a dairy queen, you know type of scenario. So

714
00:40:55,920 --> 00:40:58,120
Speaker 1: those people are like lidless, and you wouldn't want a primary.

715
00:40:58,200 --> 00:41:00,440
Speaker 1: It's twenty You're very popular in this eight Why don't

716
00:41:00,440 --> 00:41:02,920
Speaker 1: you want for governor? And I'm sort of considering it.

717
00:41:03,640 --> 00:41:05,919
Speaker 1: So you heard that here that that Congress of Denver

718
00:41:06,080 --> 00:41:09,960
Speaker 1: Riggleman is considering, in fact, running for governor of Virginia.

719
00:41:10,160 --> 00:41:12,040
Speaker 1: Would you run as a Republican or would you run

720
00:41:12,040 --> 00:41:16,040
Speaker 1: as an independent? Well, you know, I'm you know, it's

721
00:41:16,080 --> 00:41:18,680
Speaker 1: tough to run as an independent, but I'm pretty independent

722
00:41:18,719 --> 00:41:21,600
Speaker 1: minded and there's certainly a lot of people who would

723
00:41:21,600 --> 00:41:23,359
Speaker 1: ask that one as an independent. But I think you've

724
00:41:23,360 --> 00:41:26,239
Speaker 1: gotta it's gonna be a hard decision for me. You know,

725
00:41:26,320 --> 00:41:30,160
Speaker 1: I real Republican ideals, that's me. But right now, the

726
00:41:30,239 --> 00:41:32,799
Speaker 1: Virginia Republican party is so broken, but I gotta make

727
00:41:32,800 --> 00:41:34,560
Speaker 1: a tough decision. A lot of that might be, you know,

728
00:41:34,600 --> 00:41:36,880
Speaker 1: where does the Republican get the funding? But I'm not

729
00:41:36,960 --> 00:41:39,560
Speaker 1: much of kissing the ring. One is an independent. Maybe

730
00:41:39,560 --> 00:41:41,399
Speaker 1: this time for a third party one we should see

731
00:41:41,800 --> 00:41:44,680
Speaker 1: it's it's going to be fascinating. And please make sure

732
00:41:44,800 --> 00:41:46,520
Speaker 1: that I guess when would you have to make that

733
00:41:46,560 --> 00:41:51,360
Speaker 1: decision by? I would say I'm going to make that

734
00:41:51,400 --> 00:41:55,520
Speaker 1: decision probably by I don't know, September, October, sometime where

735
00:41:55,560 --> 00:41:58,680
Speaker 1: around that time. Yeah. And the thing is that we're

736
00:41:58,719 --> 00:42:01,160
Speaker 1: doing so well as a family, you know, Kevin. I

737
00:42:01,200 --> 00:42:07,319
Speaker 1: just became a grandfather twice over in the last few weeks. Yes, well,

738
00:42:07,520 --> 00:42:09,759
Speaker 1: I had two daughters pregnant that we're due just a

739
00:42:09,760 --> 00:42:14,400
Speaker 1: week or two apart. So pretty crazy. Our business is

740
00:42:14,400 --> 00:42:16,799
Speaker 1: doing incredible, my d O D you know, it's a

741
00:42:16,800 --> 00:42:19,719
Speaker 1: partner of defense and counter terrorism, Kevin. So my opportunities

742
00:42:19,760 --> 00:42:22,680
Speaker 1: are limitless. They were before I came into Congress, and

743
00:42:22,719 --> 00:42:24,520
Speaker 1: this didn't make me, you know, this wasn't my career.

744
00:42:25,040 --> 00:42:26,640
Speaker 1: So it's interesting that a lot of people like, oh

745
00:42:26,719 --> 00:42:29,000
Speaker 1: my gosh, what are you gonna do? I'm like, well,

746
00:42:29,040 --> 00:42:30,400
Speaker 1: the same thing I would have done if I won.

747
00:42:30,760 --> 00:42:32,200
Speaker 1: I want to sit on my back deck and sit

748
00:42:32,280 --> 00:42:35,080
Speaker 1: a bourbon. Right. This isn't you know this, This wasn't

749
00:42:35,120 --> 00:42:37,839
Speaker 1: my career field, right, This isn't something that I live

750
00:42:37,920 --> 00:42:40,319
Speaker 1: or die for. This is a service job. And it's

751
00:42:40,360 --> 00:42:44,080
Speaker 1: me representing seven people that was taken away from me

752
00:42:44,120 --> 00:42:46,319
Speaker 1: because I refused to be corrupt. I refused to kiss

753
00:42:46,360 --> 00:42:49,279
Speaker 1: the ring. I refused to commit to supporting anything even

754
00:42:49,320 --> 00:42:52,359
Speaker 1: close to racism or bigotry. That's what costs me. So

755
00:42:52,560 --> 00:42:55,080
Speaker 1: now I don't have to do it. You gotta want

756
00:42:55,080 --> 00:42:56,360
Speaker 1: to do it. And I think that's what puts me

757
00:42:56,400 --> 00:42:58,839
Speaker 1: in a in a unique position. Other people don't don't

758
00:42:58,840 --> 00:43:02,480
Speaker 1: have the luxury of being able to choose based on

759
00:43:02,760 --> 00:43:06,480
Speaker 1: service rather than this being a career. It's all right, well,

760
00:43:06,520 --> 00:43:09,560
Speaker 1: as you weigh that decision. Congressman Denver Riggleman, a Republican

761
00:43:09,600 --> 00:43:13,440
Speaker 1: from Virginia's fifth congressional district, please please keep us in

762
00:43:13,480 --> 00:43:15,759
Speaker 1: the loop because we we want to know exactly what

763
00:43:15,800 --> 00:43:17,960
Speaker 1: that happens. And I said it, I think on air

764
00:43:18,239 --> 00:43:21,480
Speaker 1: when all this went down, Uh you know it. I

765
00:43:21,480 --> 00:43:25,120
Speaker 1: think there was a publication in Arizona. That equated you,

766
00:43:25,520 --> 00:43:28,040
Speaker 1: or compared you to a new type of political maverick.

767
00:43:28,360 --> 00:43:31,400
Speaker 1: So it'll be very fascinating to see where that happens.

768
00:43:31,440 --> 00:43:34,359
Speaker 1: All right, enough about your political future, and let's talk

769
00:43:34,360 --> 00:43:37,879
Speaker 1: now about pressing matters of the day, because you are

770
00:43:37,880 --> 00:43:41,040
Speaker 1: wrapped up in these economic negotiations for the stimulus. Are

771
00:43:41,040 --> 00:43:43,960
Speaker 1: Republicans gonna get on board? Are they gonna get behind

772
00:43:44,320 --> 00:43:46,840
Speaker 1: one cohesive message? What has to be done to provide

773
00:43:46,880 --> 00:43:50,160
Speaker 1: some economic relief? Well, you know, like on the hill, Kevin,

774
00:43:50,200 --> 00:43:51,600
Speaker 1: you've been up here for a while. You know, the

775
00:43:51,880 --> 00:43:54,520
Speaker 1: Senate once one trillion dollars the houselds four million, and

776
00:43:54,560 --> 00:43:57,160
Speaker 1: the way negotiations have gone up here, probably will be

777
00:43:57,160 --> 00:43:59,959
Speaker 1: one plus four e plus five, right, will be true?

778
00:44:00,080 --> 00:44:03,080
Speaker 1: And um, but it's going to be somewhere in between.

779
00:44:03,160 --> 00:44:05,600
Speaker 1: And I know it's sort of funny, but it's not right.

780
00:44:05,800 --> 00:44:07,680
Speaker 1: It would be funny if it wasn't true. And it's

781
00:44:07,680 --> 00:44:09,799
Speaker 1: hard to comprehend the amount of money. I mean, these

782
00:44:09,840 --> 00:44:12,439
Speaker 1: are such big amounts of money that it's so hard

783
00:44:12,480 --> 00:44:16,080
Speaker 1: to comprehend. Go ahead, well, talk about big amounts of money.

784
00:44:16,120 --> 00:44:18,360
Speaker 1: You know, there's between a half trillion and a trillion

785
00:44:18,360 --> 00:44:20,719
Speaker 1: dollars that's gone on spent. And that's and me being

786
00:44:20,760 --> 00:44:23,560
Speaker 1: a former CEO, You're starting to get conversations up here, well,

787
00:44:23,600 --> 00:44:25,799
Speaker 1: money that hasn't been spent a certain bucket, is that

788
00:44:25,880 --> 00:44:29,160
Speaker 1: money fungible? Right? Can we transfer that money to another line?

789
00:44:29,600 --> 00:44:33,760
Speaker 1: So instead of automatically increasing spending in every single line,

790
00:44:33,920 --> 00:44:35,640
Speaker 1: why don't we look at the money that hasn't been

791
00:44:35,680 --> 00:44:38,040
Speaker 1: spent and see that can be reallocated. And I think

792
00:44:38,080 --> 00:44:40,680
Speaker 1: that idea is really starting to gain some popularity up here.

793
00:44:40,680 --> 00:44:42,959
Speaker 1: And you know, I got a question earlier Kevin about

794
00:44:42,960 --> 00:44:45,520
Speaker 1: the simulus checks, and they're like, oh my gosh. You know,

795
00:44:45,920 --> 00:44:49,000
Speaker 1: our Republicans form the stimulus checks are probably one of

796
00:44:49,000 --> 00:44:52,160
Speaker 1: the least the least of our problems that we have

797
00:44:52,200 --> 00:44:54,839
Speaker 1: in this bill, right as far as compromises concerned, as

798
00:44:54,880 --> 00:44:57,160
Speaker 1: far as talking about us concerned, really it is about

799
00:44:57,200 --> 00:45:00,440
Speaker 1: that massive gap between four trilling and one trilling dollars

800
00:45:00,440 --> 00:45:02,239
Speaker 1: and what what the Democrats want to do in the

801
00:45:02,239 --> 00:45:04,560
Speaker 1: House and the far left wants to do in the House,

802
00:45:04,560 --> 00:45:06,799
Speaker 1: and what the normal individuals want to do everywhere else.

803
00:45:07,560 --> 00:45:10,839
Speaker 1: So are you confident that there will ultimately be a deal?

804
00:45:12,640 --> 00:45:15,200
Speaker 1: I am? I mean, you know, there's some things in

805
00:45:15,239 --> 00:45:18,319
Speaker 1: here that are actually really good, you know, especially when

806
00:45:18,520 --> 00:45:20,200
Speaker 1: you know I originally was on the Small Business team

807
00:45:20,200 --> 00:45:22,719
Speaker 1: with Kevin Brady, and you know, people don't realize, you know,

808
00:45:22,760 --> 00:45:24,360
Speaker 1: I have a company. You know, Kevin, I had to

809
00:45:24,400 --> 00:45:27,279
Speaker 1: spend between thirty and forty thousand dollars just to get

810
00:45:27,719 --> 00:45:31,040
Speaker 1: just to expand my area outside my distillery one of them,

811
00:45:31,120 --> 00:45:33,840
Speaker 1: both of my distilleries. Just to keep up with the

812
00:45:33,960 --> 00:45:37,239
Speaker 1: you know, all the CDC rules and the Virginia workplace rules. Right,

813
00:45:37,280 --> 00:45:39,880
Speaker 1: We've had to spend and talk about employee training. I

814
00:45:39,920 --> 00:45:42,400
Speaker 1: mean you're talking I would I would say between sixty

815
00:45:42,440 --> 00:45:45,239
Speaker 1: and eighty thousand we've spent just to keep open. So

816
00:45:45,320 --> 00:45:47,600
Speaker 1: you know, you've got workplace tax credits which are really

817
00:45:47,719 --> 00:45:49,839
Speaker 1: really important, right, You've got things like that. You've got

818
00:45:49,840 --> 00:45:52,520
Speaker 1: technical changes in the in the checks right now that

819
00:45:52,760 --> 00:45:56,200
Speaker 1: college age dependents can now get checks, which last time

820
00:45:56,200 --> 00:45:58,000
Speaker 1: they sort of fell through the cracks. So there's a

821
00:45:58,040 --> 00:46:00,680
Speaker 1: lot of good things here. But the add things are

822
00:46:01,000 --> 00:46:03,080
Speaker 1: you know, looking at you know, hundreds of billions of

823
00:46:03,080 --> 00:46:04,879
Speaker 1: dollars for certain types of a instead of the money

824
00:46:04,920 --> 00:46:07,080
Speaker 1: that we already have in place. Um, and that's the

825
00:46:07,120 --> 00:46:09,520
Speaker 1: thing too, is again, we have almost a trillion dollars

826
00:46:09,520 --> 00:46:12,640
Speaker 1: that has not been spent. Let's reallocate first. Let's ask

827
00:46:12,640 --> 00:46:14,200
Speaker 1: you to be smart about this and look at it

828
00:46:14,200 --> 00:46:16,880
Speaker 1: as a business case rather than throwing textpair of dollars

829
00:46:16,880 --> 00:46:21,440
Speaker 1: after dollars that haven't been spent. You uh. You are

830
00:46:21,480 --> 00:46:25,080
Speaker 1: also a member of the China Task Force, which is

831
00:46:25,080 --> 00:46:29,320
Speaker 1: a group of bipartisan lawmakers who are looking at the

832
00:46:29,360 --> 00:46:32,040
Speaker 1: policies with regards to US China relations. Give me an

833
00:46:32,080 --> 00:46:35,759
Speaker 1: update on where things stand with the China Task Force. Well,

834
00:46:35,800 --> 00:46:37,759
Speaker 1: you know, a lot of the meetings are fantastic. We

835
00:46:37,880 --> 00:46:41,640
Speaker 1: just had a meeting with Secretary Espert, Secretary Defense sect

836
00:46:41,760 --> 00:46:44,920
Speaker 1: Esper and which was fantastic on a on a classified

837
00:46:44,920 --> 00:46:47,160
Speaker 1: briefly on what's going on with China. But right now

838
00:46:47,200 --> 00:46:48,879
Speaker 1: my work is really centered on what are we gonna

839
00:46:48,880 --> 00:46:51,400
Speaker 1: do economically about belt Road, the Belt Road Initiative, We're

840
00:46:51,440 --> 00:46:53,720
Speaker 1: gonna do about hypersonics, what are we gonna do about space?

841
00:46:54,160 --> 00:46:56,600
Speaker 1: You know, I'm on the National Security and the Technology pillars,

842
00:46:56,600 --> 00:46:58,400
Speaker 1: on the co chair for each one of those pillars.

843
00:46:58,400 --> 00:47:01,759
Speaker 1: And you know my twenty six years background in either military,

844
00:47:01,840 --> 00:47:04,200
Speaker 1: do O D, intelligence, space and and what I did

845
00:47:04,239 --> 00:47:06,880
Speaker 1: in the critical infrastructure cyberspace, Kevin, what I've done a

846
00:47:06,920 --> 00:47:10,000
Speaker 1: non kinetic warfare, you know, and it's just been it's

847
00:47:10,000 --> 00:47:11,719
Speaker 1: been a lot of fun to be able to apply that,

848
00:47:11,840 --> 00:47:13,560
Speaker 1: and it's also been a lot of fun. I'll take

849
00:47:13,640 --> 00:47:15,600
Speaker 1: Kevin has a four hundred thirty five and here I

850
00:47:15,640 --> 00:47:17,719
Speaker 1: have a unique skill set. Right since I haven't been

851
00:47:17,719 --> 00:47:19,719
Speaker 1: in politics, I've been able to talk to this in

852
00:47:19,760 --> 00:47:21,000
Speaker 1: a way a lot of people have. And I think

853
00:47:21,000 --> 00:47:22,640
Speaker 1: what you're going to see in the China Task Force

854
00:47:22,640 --> 00:47:26,799
Speaker 1: report is about a Denver Riggleman generated technical um recommendations

855
00:47:26,880 --> 00:47:29,280
Speaker 1: to combat China to fill in those gaps where we're

856
00:47:29,320 --> 00:47:32,040
Speaker 1: threatened by them. Can you stick around for a couple

857
00:47:32,160 --> 00:47:34,000
Speaker 1: more minutes I can ask you about the Purple Heart

858
00:47:34,480 --> 00:47:37,759
Speaker 1: uh week bill resolution that you're yeah, the Purple Star bill.

859
00:47:37,800 --> 00:47:39,800
Speaker 1: After all, right, so stigure out after job. But I

860
00:47:39,840 --> 00:47:41,719
Speaker 1: just want to get you on the record. You're hard

861
00:47:41,719 --> 00:47:45,600
Speaker 1: to hear, Congressman Denver Riggleman is seriously are you seriously

862
00:47:45,680 --> 00:47:49,759
Speaker 1: considering a run for governor? Of course I'm not going

863
00:47:49,800 --> 00:47:51,759
Speaker 1: to consider it, but I'm not serious about it. But again,

864
00:47:51,800 --> 00:47:54,160
Speaker 1: I haven't made a final decision because it's a family decision,

865
00:47:54,200 --> 00:47:56,680
Speaker 1: and I am I'm seriously considering, of course. All right,

866
00:47:56,960 --> 00:47:59,239
Speaker 1: more of a Denver Riggleman up. Next, I'm Kevin SI

867
00:47:59,280 --> 00:48:02,640
Speaker 1: really cheap into correspondent from Bloomberg Television and from Bloomberg Radio.

868
00:48:03,000 --> 00:48:05,920
Speaker 1: You can download the Bloomberg sound on podcast on Apple iTunes,

869
00:48:05,960 --> 00:48:09,239
Speaker 1: at Bloomberg dot com or by downloading the Bloomberg Business app.

870
00:48:09,320 --> 00:48:11,360
Speaker 1: You can also find me on radio dot com, I

871
00:48:11,400 --> 00:48:14,440
Speaker 1: Heart Radio, and Spotify panel. Next, congress On, Rigelman stays,

872
00:48:15,040 --> 00:48:38,520
Speaker 1: you're listening to Bloomberg. This is Bloomberg's sound on with

873
00:48:38,640 --> 00:48:42,719
Speaker 1: Kevin Shirley on Bloomberg one and one oh five point

874
00:48:42,800 --> 00:48:46,400
Speaker 1: seven f m h D two. My name is Kevin Sereley.

875
00:48:46,600 --> 00:48:48,920
Speaker 1: I'm the chief watching the correspondent for Bloomberg Television and

876
00:48:49,000 --> 00:48:54,480
Speaker 1: form Bloomberg Radio panel. Still with us Amos Snead, Executive

877
00:48:54,560 --> 00:48:58,880
Speaker 1: vice president at Pharaoh, Republican insider, former Congressman Joe Crowley,

878
00:48:59,000 --> 00:49:03,080
Speaker 1: he also was the chair of the Democratic Caucus. And

879
00:49:03,239 --> 00:49:06,040
Speaker 1: still with this Congressman Denver Riggleman to Republican from Virginia.

880
00:49:06,360 --> 00:49:08,680
Speaker 1: This is the part, gentleman, where you tell me what's

881
00:49:08,719 --> 00:49:12,200
Speaker 1: on your radar. But I'm gonna tell what's on my radar?

882
00:49:12,320 --> 00:49:15,160
Speaker 1: Something I've always wanted to ask Congressman Riggleman, but I

883
00:49:15,280 --> 00:49:17,359
Speaker 1: never had enough time. And today I thought I am

884
00:49:17,400 --> 00:49:21,600
Speaker 1: making the time. Uh, And that is on Purple Star families.

885
00:49:22,719 --> 00:49:25,120
Speaker 1: This is uh. You and I have talked about this,

886
00:49:25,120 --> 00:49:28,680
Speaker 1: Corressan Regalman. This is something that impacted your family, UM,

887
00:49:28,880 --> 00:49:32,560
Speaker 1: veterans you have served in in the intelligence community, but

888
00:49:32,880 --> 00:49:36,759
Speaker 1: purple Star families, veterans who have lost their lives to

889
00:49:36,760 --> 00:49:40,239
Speaker 1: to their struggle with suicide. And tell me about your

890
00:49:40,280 --> 00:49:44,839
Speaker 1: resolution and if you feel comfortable your personal connection to it. Sure,

891
00:49:44,920 --> 00:49:46,799
Speaker 1: the resolution would be that for a week that we

892
00:49:46,840 --> 00:49:51,320
Speaker 1: would honor the families of those military members that committed suicide.

893
00:49:51,400 --> 00:49:53,640
Speaker 1: Knows the invisible ones of war, and we had a

894
00:49:53,640 --> 00:49:56,719
Speaker 1: lot of families until completely left down and alone, you know,

895
00:49:56,760 --> 00:49:58,520
Speaker 1: and so do these members. And as we look at

896
00:49:58,520 --> 00:50:00,439
Speaker 1: mental health and we look at suicide, as I thought

897
00:50:00,480 --> 00:50:02,839
Speaker 1: this was an appropriate step to make sure that these

898
00:50:02,840 --> 00:50:05,520
Speaker 1: families have gone through such hardships, you know, should you know,

899
00:50:05,640 --> 00:50:07,799
Speaker 1: be identified as Purple Star families and have a week

900
00:50:07,840 --> 00:50:11,240
Speaker 1: where we remember those who died from those invisible wounds.

901
00:50:11,239 --> 00:50:14,040
Speaker 1: And and for me, you know, my uncle, um, my

902
00:50:14,080 --> 00:50:17,400
Speaker 1: uncle committed suicide. You know, he's a pilot, and you know,

903
00:50:17,480 --> 00:50:20,520
Speaker 1: back in the seventies, And I think that I've known

904
00:50:20,560 --> 00:50:22,479
Speaker 1: that story since I was a kid, and everybody never

905
00:50:22,560 --> 00:50:25,360
Speaker 1: knew why you know that that happened. And now that

906
00:50:25,400 --> 00:50:27,239
Speaker 1: I've been around and I was in the military, and

907
00:50:27,280 --> 00:50:29,680
Speaker 1: I've seen some things and done some things and been

908
00:50:29,719 --> 00:50:31,880
Speaker 1: around the world and have gone through my own trials

909
00:50:31,880 --> 00:50:35,000
Speaker 1: and tribulations. Right with places that I've been and things

910
00:50:35,000 --> 00:50:37,520
Speaker 1: that that I've seen, Um, you want to make sure

911
00:50:37,520 --> 00:50:39,160
Speaker 1: these families are taken care of. And it's just something

912
00:50:39,200 --> 00:50:40,800
Speaker 1: so dear to me. I think we have about seventy

913
00:50:40,840 --> 00:50:43,680
Speaker 1: co sponsors already and and boy, wouldn't it be something,

914
00:50:43,880 --> 00:50:46,320
Speaker 1: you know, to to recognize those families and those and

915
00:50:46,360 --> 00:50:51,960
Speaker 1: those service members. Yeah, and I think it's we're overdue

916
00:50:52,560 --> 00:50:55,719
Speaker 1: for a conversation about how to talk about this in

917
00:50:55,800 --> 00:50:59,360
Speaker 1: this country and how to how to have families and

918
00:50:59,640 --> 00:51:05,040
Speaker 1: those impacted by this pandemic really, uh this other pandemic.

919
00:51:05,320 --> 00:51:09,799
Speaker 1: Um talk about these issues in a way that's compassionate, respectful,

920
00:51:10,080 --> 00:51:12,680
Speaker 1: and still filled with gratitude. And I can't imagine. I

921
00:51:12,680 --> 00:51:16,000
Speaker 1: appreciate you sharing that story for our audience, and uh,

922
00:51:16,239 --> 00:51:19,960
Speaker 1: you know and and it's one of those pieces of

923
00:51:20,320 --> 00:51:24,080
Speaker 1: legislation that it's it's it's sometimes you can't talk about things,

924
00:51:24,080 --> 00:51:27,839
Speaker 1: but sometimes you have to. Congressman, Yeah, go ahead, I'll

925
00:51:27,840 --> 00:51:30,200
Speaker 1: give you the final word on this. Oh no, Kevin,

926
00:51:30,280 --> 00:51:32,440
Speaker 1: by the way, thank you that question. I love that

927
00:51:32,480 --> 00:51:34,239
Speaker 1: we're doing that. But I also want to let you

928
00:51:34,239 --> 00:51:36,120
Speaker 1: know that question you asked me about running for governor.

929
00:51:36,160 --> 00:51:39,080
Speaker 1: I think it's just terrified every friend, family and supporter

930
00:51:39,160 --> 00:51:40,440
Speaker 1: that I have, So I just won't let you know

931
00:51:40,560 --> 00:51:43,279
Speaker 1: that I got way. I got way out in front

932
00:51:43,320 --> 00:51:44,719
Speaker 1: of my head lights, and I'm proud to do it.

933
00:51:44,920 --> 00:51:49,719
Speaker 1: You know. You know that's the that's the that's the

934
00:51:49,760 --> 00:51:55,799
Speaker 1: magic of Kevin's really right. Congressman Rickman, I'll talk to

935
00:51:55,800 --> 00:51:59,600
Speaker 1: you later. Republican from Virginia. Sorry, sorry to Rigleman's family

936
00:51:59,640 --> 00:52:05,439
Speaker 1: for that. I guess. Thank you. Joe Crowley, you gotta

937
00:52:05,480 --> 00:52:10,719
Speaker 1: run for Senate Formardsman a Democratic carcuss Jared kidding, But

938
00:52:10,760 --> 00:52:15,920
Speaker 1: what's on your radar? Job on me? Here? Yeah? There

939
00:52:16,000 --> 00:52:18,480
Speaker 1: you go? Can you hear me? Yeah? I can. I

940
00:52:18,520 --> 00:52:21,600
Speaker 1: just want to address Congress from realman, you know, being

941
00:52:21,600 --> 00:52:24,480
Speaker 1: on the show. I don't think it's entirely coincidental I'm

942
00:52:24,480 --> 00:52:27,200
Speaker 1: on the show at the same time given my own experience.

943
00:52:27,560 --> 00:52:30,000
Speaker 1: But I will tell you he's showing remarkable not a

944
00:52:30,080 --> 00:52:32,879
Speaker 1: class just now. And I know the circumstances have been

945
00:52:32,920 --> 00:52:35,440
Speaker 1: in terms of different from my situation. But it's not

946
00:52:35,480 --> 00:52:38,480
Speaker 1: an easy thing to lose a house seat, uh, certainly

947
00:52:38,480 --> 00:52:41,160
Speaker 1: in the primary, no matter how that primary shapes out

948
00:52:41,600 --> 00:52:45,880
Speaker 1: or is. And uh here you know, speak about those

949
00:52:46,160 --> 00:52:50,680
Speaker 1: military veterans who come home, uh and face enormous walls

950
00:52:50,719 --> 00:52:53,400
Speaker 1: and challenges and would up taking their lives. There's not

951
00:52:53,480 --> 00:52:56,160
Speaker 1: enough to talk about. I salute him for raising this point,

952
00:52:56,280 --> 00:52:59,080
Speaker 1: especially comes from the Republican side. I think you'll find

953
00:52:59,080 --> 00:53:01,880
Speaker 1: a lot of partners on Democratic side. It is an

954
00:53:01,920 --> 00:53:06,919
Speaker 1: incredibly worthwhile adventure to help those families find the dignity

955
00:53:07,040 --> 00:53:09,920
Speaker 1: that they deserve. Quite frankly, um, in terms of all

956
00:53:09,960 --> 00:53:13,480
Speaker 1: my radar is happening right now. Will schools open, will

957
00:53:13,320 --> 00:53:16,520
Speaker 1: it be a streak? Will Major League Baseball continue to

958
00:53:16,560 --> 00:53:19,520
Speaker 1: play or will they move into the season. Those are

959
00:53:19,560 --> 00:53:22,520
Speaker 1: things that will be greatly concerned. You know, I have

960
00:53:22,560 --> 00:53:25,600
Speaker 1: a lot of teachers in my family, and uh, you know,

961
00:53:25,640 --> 00:53:29,080
Speaker 1: there is this discussion about the accessibility to Major League

962
00:53:29,080 --> 00:53:33,680
Speaker 1: baseball players the tests to ensure a secure environment to

963
00:53:33,800 --> 00:53:36,880
Speaker 1: play baseball COVID free as best they can, but they

964
00:53:36,920 --> 00:53:40,080
Speaker 1: don't necessarily seal the fate. The same emphasis put on

965
00:53:40,120 --> 00:53:42,880
Speaker 1: their profession and whether or not they chilled the children

966
00:53:42,880 --> 00:53:45,680
Speaker 1: that they teach or themselves. They themselves will be free

967
00:53:45,880 --> 00:53:51,240
Speaker 1: or or as possible from the the chance of contamination

968
00:53:51,920 --> 00:53:55,520
Speaker 1: from COVID and contracting the virus. And that has to

969
00:53:55,520 --> 00:53:57,920
Speaker 1: be concerned. That's on my mind. And see what Dent's

970
00:53:58,000 --> 00:54:00,439
Speaker 1: response will be to that. I can, you know, I gotta,

971
00:54:00,719 --> 00:54:02,600
Speaker 1: you know, and she's gonna get very mad at me

972
00:54:02,640 --> 00:54:04,560
Speaker 1: for what I'm about to say. My sister is a teacher,

973
00:54:04,640 --> 00:54:11,000
Speaker 1: and I mean, what is being expected of I had

974
00:54:11,040 --> 00:54:14,000
Speaker 1: on it, But it's it's you think of the teachers,

975
00:54:14,040 --> 00:54:16,759
Speaker 1: You think of frontline workers, you think of refinery workers,

976
00:54:17,120 --> 00:54:20,719
Speaker 1: you have to go back to work, and it's you know,

977
00:54:20,800 --> 00:54:23,839
Speaker 1: not everyone. I don't know. I'm stuttering, so I think

978
00:54:23,880 --> 00:54:25,799
Speaker 1: I should probably stop. You got to give them the

979
00:54:25,800 --> 00:54:29,840
Speaker 1: p P p PP. You have, you know, an environment

980
00:54:29,920 --> 00:54:32,560
Speaker 1: which is as safe as possible. Yea. And right now,

981
00:54:32,560 --> 00:54:35,040
Speaker 1: if I'm here from teachers in my family, they don't

982
00:54:35,040 --> 00:54:37,480
Speaker 1: feel enough as being done. But you know that's New

983
00:54:37,520 --> 00:54:39,560
Speaker 1: York City schools, and I don't know what's happening the

984
00:54:39,600 --> 00:54:42,919
Speaker 1: rest of the country. Yeah, it's so important. And I think,

985
00:54:43,080 --> 00:54:46,319
Speaker 1: especially now as we look, we have to go and

986
00:54:46,360 --> 00:54:49,400
Speaker 1: I said this to Tom Keene earlier on Bloomberg Surveillance,

987
00:54:49,480 --> 00:54:52,120
Speaker 1: we have to go line by line, especially in the media,

988
00:54:52,480 --> 00:54:54,799
Speaker 1: to to look at these stimulus bills because we have

989
00:54:54,920 --> 00:54:57,719
Speaker 1: to see that the that these businesses, these companies, it's

990
00:54:57,719 --> 00:55:00,200
Speaker 1: not you can't frame this as a two thousand name

991
00:55:00,280 --> 00:55:02,400
Speaker 1: bail out when we cover it. Is this fund for

992
00:55:02,440 --> 00:55:05,759
Speaker 1: the PPE is so crucial, It's so incredibly important just

993
00:55:05,800 --> 00:55:09,440
Speaker 1: to the psychology of the American worker, to the American teacher,

994
00:55:09,800 --> 00:55:14,279
Speaker 1: to the American refinery worker. Uh, it's so important that

995
00:55:14,320 --> 00:55:17,239
Speaker 1: people show up to work their parents. They have to

996
00:55:17,280 --> 00:55:19,759
Speaker 1: be able to feel that their office is safe. And

997
00:55:19,760 --> 00:55:22,520
Speaker 1: I'm on a soapbox, so I should stop talking, Amos Steed.

998
00:55:22,560 --> 00:55:25,840
Speaker 1: What's on your radar? Uh? The magic of Kevin Thrilly.

999
00:55:25,880 --> 00:55:29,320
Speaker 1: You have democrats of plotting Republican efforts on the same

1000
00:55:29,800 --> 00:55:32,719
Speaker 1: program at the same time. You don't get that anywhere else.

1001
00:55:35,480 --> 00:55:37,399
Speaker 1: Did you do a book on that? Did you write

1002
00:55:37,400 --> 00:55:39,400
Speaker 1: a book like that? What's the book called plug the

1003
00:55:39,440 --> 00:55:42,200
Speaker 1: book Oh my gosh, look at this, hey, Climbing the Hill.

1004
00:55:42,360 --> 00:55:44,799
Speaker 1: Written by Amos Need and Jamie Harrison. It's a book

1005
00:55:44,840 --> 00:55:49,040
Speaker 1: on public service of a career in public service in politics.

1006
00:55:49,560 --> 00:55:51,919
Speaker 1: Are our book tour was cut short because my friend

1007
00:55:52,000 --> 00:55:54,440
Speaker 1: Jamie decided to run for Senate from South Carolina. So

1008
00:55:55,160 --> 00:56:02,240
Speaker 1: um by the book. Yeah, he's he's good people, um,

1009
00:56:02,280 --> 00:56:04,360
Speaker 1: good people, and he will have to get him on

1010
00:56:04,360 --> 00:56:07,200
Speaker 1: your show. Now that we really absolutely crowned for bipartisanship,

1011
00:56:07,480 --> 00:56:11,239
Speaker 1: should have you both altogether. Go ahead, Kevin. What's on

1012
00:56:11,320 --> 00:56:14,239
Speaker 1: my mind right now? The state of Alabama, the state

1013
00:56:14,239 --> 00:56:17,520
Speaker 1: of Alabama is going to send a former Auburn football

1014
00:56:17,560 --> 00:56:20,759
Speaker 1: coach I coached that one sixth strays. Here's the thumb

1015
00:56:20,760 --> 00:56:24,760
Speaker 1: against Alabama. They're gonna happily send coach Tubberville to Washington

1016
00:56:24,880 --> 00:56:27,560
Speaker 1: as a United States Senator. And my thinking is my

1017
00:56:27,640 --> 00:56:30,520
Speaker 1: thinking is that Alabama has just one so much under

1018
00:56:30,960 --> 00:56:34,359
Speaker 1: Nick Saban that they've forgotten about this um Otherwise, there's

1019
00:56:34,400 --> 00:56:36,399
Speaker 1: no explanation. But Tubberville looks like we'll be the next

1020
00:56:36,400 --> 00:56:39,759
Speaker 1: senator from the state of Alabama. You know that is remarkable.

1021
00:56:39,800 --> 00:56:42,000
Speaker 1: Here's what's on my radar. I'm gonna get a little dirty.

1022
00:56:42,719 --> 00:56:45,879
Speaker 1: I don't even know I see I yeah, I don't

1023
00:56:45,880 --> 00:56:47,600
Speaker 1: even want to talk Penn State football. That's all I'm

1024
00:56:47,600 --> 00:56:49,560
Speaker 1: gonna say. I used to cover that, and we thought

1025
00:56:49,640 --> 00:56:53,040
Speaker 1: was many years ago. Uh. Text CEO is testifying before

1026
00:56:53,080 --> 00:56:57,080
Speaker 1: the Congressional Anti Trust Panel. They're actually divided. They are

1027
00:56:57,160 --> 00:57:02,480
Speaker 1: divided about whether or not China is stealing technology. Google's

1028
00:57:02,560 --> 00:57:04,759
Speaker 1: saying that he could not think of a case where

1029
00:57:04,760 --> 00:57:09,120
Speaker 1: the Chinese government stole Google's technology. Jerry Nadler, the chairman

1030
00:57:09,160 --> 00:57:11,719
Speaker 1: of the committee. Uh. He says that more businesses are

1031
00:57:11,760 --> 00:57:15,160
Speaker 1: moving online. That's not about China here. It is. Back

1032
00:57:15,200 --> 00:57:17,480
Speaker 1: in two thousand ten, Google pulled out of China after

1033
00:57:17,520 --> 00:57:19,840
Speaker 1: noting that it and twenty other US companies were the

1034
00:57:19,920 --> 00:57:24,120
Speaker 1: victims of a sophisticated cyber attack originating from China. So

1035
00:57:25,520 --> 00:57:29,040
Speaker 1: the Chinese sphere of influence still being discussed up on

1036
00:57:29,120 --> 00:57:31,680
Speaker 1: Capitol Hill. Hey, Joe Crowley, thank you. Make sure you

1037
00:57:31,760 --> 00:57:36,520
Speaker 1: check out the new live Bruce Springsteen album that just dropped. Um,

1038
00:57:36,560 --> 00:57:38,760
Speaker 1: this is my all. No, this is not thumber Red,

1039
00:57:39,080 --> 00:57:41,800
Speaker 1: but this is anyway. This is Bruce. I always play

1040
00:57:41,800 --> 00:57:44,600
Speaker 1: Bruce for Joe Crowley. An amous need executive vice president

1041
00:57:44,800 --> 00:57:47,920
Speaker 1: of that Pharaoh Strategic Communications Firm in d C. I'm

1042
00:57:48,000 --> 00:57:50,760
Speaker 1: Kevin Cereley, Chief Washington correspondent f Woomberg TV and Radio.

1043
00:57:50,760 --> 00:57:54,000
Speaker 1: Thank you to our guests. Ben Browdie, Woomberg's tech reporter,

1044
00:57:54,080 --> 00:57:56,680
Speaker 1: gets a rest. It's all over the hill if you're

1045
00:57:56,720 --> 00:57:57,520
Speaker 1: listening to Woomberg