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Speaker 1: Hi, I'm Molly John Fast and this is Fast Politics,

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Speaker 1: where we discussed the top political headlines with some of

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Speaker 1: today's best minds and Matt Gates's newest aid self describes

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Speaker 1: as a raging misogynist. We have a jaw dropping show today.

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Speaker 1: Democratic Congressional whip Congresswoman Catherine Clark stops by to talk

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Speaker 1: to us about the Democratic budget proposal and how it

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Speaker 1: helps the American people. Then we'll have Republican Operative Carlton Huffman,

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Speaker 1: who accused SEPAC chairman Match Lap of unwanted sexual advances.

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Speaker 1: But first we have the host of NPR's Full Disclosure,

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Speaker 1: Robin Farzad. Welcome to Fast Politics, Robin, thank you, Molly.

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Speaker 1: Good to be back. So we got to start with

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Speaker 1: the bank run. Talk us through Silicon Valley Bank. I

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Speaker 1: did not become aware of this until my husband disappeared

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Speaker 1: for three days. But explain to me what happened here?

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Speaker 1: What makes this run different from all others? That's right?

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Speaker 1: For this run, we sit reclining, we eat only bitter herbs. Yeah,

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Speaker 1: so explain to us what happened was Silicon Valley Bank.

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Speaker 1: This started on Thursday. Well, here we are a week ago.

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Speaker 1: You know, concentrating on the world of the Fed, probably

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Speaker 1: raising by another half a point. All eyes are inflation.

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Speaker 1: The system is hail and hardy. Nobody's really worried about

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Speaker 1: any bank runs. And here you have otherwise pretty successful

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Speaker 1: regional bank out in Silicon Valley, out in California that

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Speaker 1: has to do a capital raise because it has a

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Speaker 1: bit of a hole in its balance sheet or it

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Speaker 1: took on a paper loss. The hole was caused by

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Speaker 1: what inbarstment. Look at it this way. You take on

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Speaker 1: depositor money. Typically it's great, but in this case it

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Speaker 1: was almost an embarrassment of riches. And everybody got complacent

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Speaker 1: in this environment because that depositor money. In a zero

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Speaker 1: yield environment, you have to reach out farther on the

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Speaker 1: yield curve or take on more incremental interest rate risk

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Speaker 1: to get any yield right. The way the bank makes

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Speaker 1: money is it takes depositor money in this case pays

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Speaker 1: nothing and hopefully wants to collect a couple of points

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Speaker 1: over that. You could do that by loaning it out

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Speaker 1: in net interest margin whatever it was. It has a

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Speaker 1: very homogeneous client base. It went out because there was

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Speaker 1: no yield to be having had in short term safer securities,

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Speaker 1: and it bought longer term treasury and mortgage backed securities.

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Speaker 1: And then the Fed does this whiplashing shift last year

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Speaker 1: and hikes interest rates in one year more than it

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Speaker 1: had I think since the early eighties. In a concentrated period.

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Speaker 1: You go from zero interest rate policy to about four

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Speaker 1: and a half percent, where we are right now on

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Speaker 1: the brink of five. And these guys get caught unawares.

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Speaker 1: I was like, oh, well, they could have privately gone

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Speaker 1: out and raised some money to plug the hole in

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Speaker 1: their portfolio, because a paper loss is a paper loss, right,

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Speaker 1: You're gonna have to sell those bonds. But the thing

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Speaker 1: that happened at the same time was you had all

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Speaker 1: these depositors, with the slowdown in Silicon Valley and everything

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Speaker 1: in cash flow issues being different, drawing down on these accounts.

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Speaker 1: So to make to pay out those depositors, they had

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Speaker 1: to raise some money. Had that been done quietly as

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Speaker 1: opposed to them coming out and fessing up to this.

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Speaker 1: Add to that the social media aspect of it, yelling

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Speaker 1: fire in a crowded movie theater and everybody on Twitter

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Speaker 1: as an expert, and you have self important venture capitalists

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Speaker 1: and private equities ours and hedges by the way, some

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Speaker 1: of whom I have short positions, that's right, and who

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Speaker 1: are trying to serve themselves on their shores. One minute

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Speaker 1: you have the sixteenth largest bank in the United States.

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Speaker 1: The next you have a client of the state and

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Speaker 1: the second biggest bank failure in history. Now we don't

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Speaker 1: have subprime stresses or anything else. No two crises look

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Speaker 1: the same, like the SNL crisis or OH eight. But

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Speaker 1: this was just getting pretty and getting foolish. I take

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Speaker 1: the criticism that deregulation after the financial crisis was a

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Speaker 1: big reason why this was allowed to happen. I want

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Speaker 1: to get into this for a minute, because it is

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Speaker 1: interesting that you have the train deregulation and you have

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Speaker 1: four Norfolk Southern derailments this year, and then you have

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Speaker 1: the deregulation of these regional banks and you have a collapse.

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Speaker 1: So a lot of members of the right will say

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Speaker 1: they don't I don't know if you know this, but

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Speaker 1: they don't like regulations. They feel that it's anti capitalists

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Speaker 1: and they're wrong. But I want to get into this

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Speaker 1: with you for a second, which is they will say

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Speaker 1: their favorite thing to say is well, regulation wouldn't have

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Speaker 1: prevented this. Tell us why that's bullshit. And I'm still

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Speaker 1: trying to read between the lines here. But deregulation, I

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Speaker 1: mean after the pendulum always swings. Clearly, we were underregulated

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Speaker 1: before the Great Financial Crisis and subprime and you had

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Speaker 1: all these investment banks rolling subprime falafel in the interest

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Speaker 1: of extending the American dream and country ide and blah

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Speaker 1: blah blah blah blah. But in the end, it was

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Speaker 1: it was a big game, right, it was a diffusion

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Speaker 1: of responsibility. We're passing that onto the taxpair. It was

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Speaker 1: kind of a perfect crime, and very few or no

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Speaker 1: one went to prison for it. Right in this case,

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Speaker 1: you have no one really betting on anything. Nobody's speculating,

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Speaker 1: but kind of stupid risk management or being pretty in

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Speaker 1: a period of zero interest rates just makes people complacent

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Speaker 1: and they do stupid things like a Minsky moment. A

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Speaker 1: Minsky moment. Can you explain a Minsky moment for our listeners?

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Speaker 1: As I understand it that even in a great economy,

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Speaker 1: prettiness is going to sow the seeds of its own demise,

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Speaker 1: that reckless speculation that in a bullish period you're gonna

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Speaker 1: have people to kind of poke the bear. And I've

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Speaker 1: mixed the million metaphors. But you saw Bear Sterns do that,

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Speaker 1: You saw Lehman brothers do that. And so a sudden

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Speaker 1: decline in in sentiment out of a period of quiet

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Speaker 1: and zero interest rate policy and complacency causes everybody to

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Speaker 1: shift the pendulum to oh, my gosh, the world is ending.

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Speaker 1: And that's kind of arguably in hindsight, they might refer

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Speaker 1: to this as a Minsky moment. I you know, I

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Speaker 1: think about this, and yes, this was a very calm

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Speaker 1: environment just a week ago, and you had a very

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Speaker 1: routine thing. But interest rate hikes the weight the likes

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Speaker 1: of which we saw last year are going to hurt people.

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Speaker 1: It's going to hurt consumers, car dealerships, and it hurts

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Speaker 1: the market, and it hurts confidence. In this case, you

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Speaker 1: can't hike rates as much as you did without revealing

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Speaker 1: which banks were out there kind of speculating. But it

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Speaker 1: wasn't done in the interest of you know, I think

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Speaker 1: raw avarice or anything or greed. It was kind of

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Speaker 1: done in complacency and sloppiness. And shouldn't a bank that

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Speaker 1: was sloppy be taken out and executed summarily like this,

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Speaker 1: And that's a big question. Can Peter Tell be blamed

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Speaker 1: for any of this? You know, the yelling fire in

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Speaker 1: a crowded movie theater. It's one thing. If we're dealing

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Speaker 1: in a world of press releases and fax machines and

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Speaker 1: copper wire phones, it's another one. We're all experts on Twitter,

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Speaker 1: and if you're a VC and you could barket your

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Speaker 1: portfolio companies, get out of this situation, get out of

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Speaker 1: this situation. You're effectively it's the self. You control the

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Speaker 1: self fulfilling prophecy, you control the destiny, and you could

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Speaker 1: look smart afterwards. Well, look, I told you it was

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Speaker 1: going to fail, and it did fail because you pulled

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Speaker 1: your money out right, so you can create a crisis

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Speaker 1: and then look good. That's what bothers me is the

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Speaker 1: asymmetry of it. It's still private profits and socialized risk.

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Speaker 1: Because in the end, the FED did show its hand,

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Speaker 1: the FDIC showed its hand, Treasury showed its hand and

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Speaker 1: said we're going to make depositors whole, and this is

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Speaker 1: just one example in the market. Meanwhile, goes out and

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Speaker 1: shoots no shortage of regional banks and forces them to

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Speaker 1: come out and say that we're hail and hearty and

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Speaker 1: opens that opens them to that kind of that downward speculation.

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Speaker 1: Say it again, the line I that you just said

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Speaker 1: privatizes profits and socializes risk. Yeah, that was that was

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Speaker 1: the knock in subprime private profits, socialized risk. All these

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Speaker 1: bankers who made these securities and everything they profited, they

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Speaker 1: didn't comback their profits. The risk was ultimately borne by

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Speaker 1: the taxpayer. Now you have DC saying that the taxpayers

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Speaker 1: not bearing these risks. But for yeah, after one hundred

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Speaker 1: billion dollars of whatever the FDIC account that's depleted and

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Speaker 1: whatever levies that you charge on the industry, which by

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Speaker 1: the way, they lobbied against. What about this FED window,

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Speaker 1: this FED facility to buy um, you know, subpar securities

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Speaker 1: off of banks. Who's paying for that? That's a being

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Speaker 1: a question mark to me. I mean, it's a kind

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Speaker 1: of an existential question. Is the FED just not Is

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Speaker 1: it just its own entity, its own balance sheet? Does

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Speaker 1: that not recourse to the taxpayer? All sorts of moral

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Speaker 1: hazard has been kind of re revealed and rekindled by this. Yeah,

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Speaker 1: that's my feeling too. I want to talk to you

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Speaker 1: about now the anxiety this weekend was that there was

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Speaker 1: going to be contagion. Right, There was a lot of

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Speaker 1: anxiety about contagion. So is the pandemic over the pandemic

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Speaker 1: I mean COVID or the anxiety of contagion and the

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Speaker 1: anxiety of contagion. The echo chamber is thing like it was.

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Speaker 1: And they go back on YouTube and look at videos

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Speaker 1: of the crash of eighty seven or the Savings a

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Speaker 1: loan crisis. There. We weren't even tweeting this much, not

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Speaker 1: nearly this much in two thousand and eight and two

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Speaker 1: thousand and nine. You just have these prominent financiers and

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Speaker 1: self made experts out there saying that I sent a

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Speaker 1: problem with this or I heard this. That's not regulated.

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Speaker 1: You are effectively allowed to yell fire in a crowded

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Speaker 1: movie theater, and whatever the feds want to do, whatever

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Speaker 1: bumpers they want to put up, whatever backstops, it's still

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Speaker 1: up to the consumers to pull their money. Some atavistic

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Speaker 1: tendency takes hold, like you're thinking, all right, it's my

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Speaker 1: money cut the BS do. I have to get it out.

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Speaker 1: As I've said before, when I have Iranian relatives call

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Speaker 1: me and ask me about something, it's hit a certain

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Speaker 1: trip wire, which it did. I had a cousin contact me,

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Speaker 1: you know, five days ago, and say, should I be

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Speaker 1: spreading money around several different accounts in Los Angeles? I

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Speaker 1: was like, well, you're with Wells Fargo. You know. The

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Speaker 1: asymmetry of this is Wells and City Group and Bank

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Speaker 1: of American JP, Morgan Chase, some of the original sins

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Speaker 1: of prime. They're too big to fail banks. They're going

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Speaker 1: to become even bigger. Right. That's another worry that a

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Speaker 1: lot of people have, is that the too big to

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Speaker 1: fail banks are now going to get bigger. I want

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Speaker 1: to ask you, was this caused by woke banking? I mean,

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Speaker 1: I love this Republican talking point. The Silicon Valley Bank

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Speaker 1: has the money of founders fund, Peter Teel, many Peter

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Speaker 1: Teel portfolio companies. It is run by all white guys,

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Speaker 1: and yet somehow this is all the fight of woke banking.

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Speaker 1: Explain that's a canard in this case. I just don't.

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Speaker 1: I don't buy any have that it was. Was there

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Speaker 1: nosed the function of kind of woke board governorship, I

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Speaker 1: mean corporate governance? I mean, you had you had strange

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Speaker 1: people on that did anybody at any point say here,

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Speaker 1: come prick my finger and show me how this thing works. Yeah,

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Speaker 1: the risk controls were terrible in this case. And they

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Speaker 1: teach you in finance one on one. But the thing

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Speaker 1: about finances, and I saw Elizabeth Warren on TV, I

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Speaker 1: think she was Rachel Maddow is there are people out

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Speaker 1: in the world that think banking should be boring, and

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Speaker 1: there are others that believe banking is a kind of

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Speaker 1: a calling your lubricants to kind of capital formation, and

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Speaker 1: you're doing good for society, making a market, and you

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Speaker 1: should be able to make a killing at the same time.

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Speaker 1: And they don't want it deregulated, just like the airlines

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Speaker 1: don't want you telling them that you can't pack your

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Speaker 1: jetliners and then refuse somebody their seat because you have

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Speaker 1: load capacity numbers and you have this tried and true

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Speaker 1: formula of paying a person for getting bumped. They don't

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Speaker 1: want that. They want to avail themselves of complete flexibility,

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Speaker 1: complete pricing power, and that to the banks. They've had

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Speaker 1: it here. They've had zero interest rates for the longest

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Speaker 1: time you could be in hog Heaven. I think JP

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Speaker 1: Morgan in twenty twenty one had more than a forty

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Speaker 1: billion dollar net profit. What's not to love. You're getting

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Speaker 1: money for nothing, in the words of Dire Straits, and

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Speaker 1: yet one of the most successful banks in the country

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Speaker 1: managed to turn that into a catastrophe. I mean, what's

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Speaker 1: wrong here? Yeah, no, I know. So now we got

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Speaker 1: these in place numbers today. I'm sure you saw all

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Speaker 1: those different alerts where some are saying this was good

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Speaker 1: news and some are saying it's bad news. Inflation is

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Speaker 1: going down, it's just taking longer than anyone hoped. And

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Speaker 1: you know what, this is stale news at this point

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Speaker 1: because what just happened this week is certainly psychologically a

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Speaker 1: deflationary shock. But the market's trying to force the ft

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Speaker 1: at the very least say we're done hiking, and in

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Speaker 1: fact the worm is turned soon we're going to be

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Speaker 1: cutting rates because this is, unfortunately the codependency that's been

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Speaker 1: set up this century. We've had so many years of

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Speaker 1: emergency low interest rate policy that people have come to

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Speaker 1: expect it, and if you don't do it, it's like crying.

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Speaker 1: I'm crying uncle. Look, the market's crying uncle. The banks

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Speaker 1: are failing. It's bloodshed out there, and that forces the

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Speaker 1: Fed's hand. I need you to talk through this for

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Speaker 1: a minute. I know what you're talking about, but I

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Speaker 1: need you to go slower on this. What happened with

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Speaker 1: the failure of Silicon Valley will ultimately have a deflationary effect.

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Speaker 1: Can you explain that? Yeah, people perceiving that there was

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Speaker 1: a shock just Silicon Valley and isolation that for a

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Speaker 1: good twenty four hours. There were many portfolio companies and

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Speaker 1: many vcs are like, WHOA, our slowdown right now is

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Speaker 1: a downright crisis because there are firms that are going

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Speaker 1: to fail if they can't get their cash out. I

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Speaker 1: have no idea. Tell me more. BuzzFeed, Fox, Roku companies

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Speaker 1: worried about making payroll. Perhaps company is worried about making Yes, Yes,

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Speaker 1: I have the vcs we know and love. Perhaps spent

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Speaker 1: the whole weekend screaming about how we had to yes,

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Speaker 1: and some to their credits said, will be a backstop,

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Speaker 1: will be a bridge loan to these companies to make payroll.

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Speaker 1: But what they wanted all along was for that above

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Speaker 1: two hundred and fifty thousand dollars insurance thing, that taboo

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Speaker 1: to be shattered, and they effectively got that. But they

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Speaker 1: had to tweet a lot about it. First, they had

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Speaker 1: to tweet a lot about it and wax wax, kind

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Speaker 1: of martyr about this. We're dying to the cause. I now,

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Speaker 1: poor bunnies. But look at everybody else. Look at first

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Speaker 1: Republic had to go through a hell, Charles Schwab, all

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Speaker 1: these other things. And meanwhile everyone around the country is

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Speaker 1: calling everyone else and saying, should I move my money

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Speaker 1: to JP, Morgan Chase or a Well or one of

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Speaker 1: these things that is already the designated is a too

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Speaker 1: big to fail bank, And that's just going to worsen

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Speaker 1: the outlook. If you're expecting to get money on your

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Speaker 1: deposit to compensate for inflation and everything. The big banks

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Speaker 1: don't want to do you a favor. The small banks

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Speaker 1: are there to hold your hand and get through payroll

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Speaker 1: and everything. Right now, they're just scrambling into telegraph to

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Speaker 1: the market that we're okay and that that kind of

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Speaker 1: talk is cheap. And I wonder why the FED doesn't

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Speaker 1: have a kind of a good housekeeping seal or a

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Speaker 1: real time you know, like even in New York, you

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Speaker 1: eat at a dumpy sushi restaurant and you can see

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Speaker 1: that it says BC on the outside and you're taking

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Speaker 1: your life into your own hands. You can't you know,

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Speaker 1: you can't with the bank because many are are not

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Speaker 1: susceptible to these stress tests. I don't get it. I

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Speaker 1: know that a lot of people I know and love

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Speaker 1: are mad at Elizabeth's Warren. But this is a regulatory failure.

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Speaker 1: I think it is because they're not being regular related

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Speaker 1: the way the larger banks are. Federal banks have a

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Speaker 1: different regulatory standard and which they lobbied for. All of

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Speaker 1: these guys flew under the radars somehow. That do you

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Speaker 1: tell me how that a majority of their deposits were uninsured,

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Speaker 1: i e. Over the two hundred and fifty thousand dollars

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Speaker 1: FDIC protection limit and the FED or no mechanism came

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Speaker 1: in and said, you need to husband a ton of

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Speaker 1: this cash in the event that something happens. Suppose I

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Speaker 1: don't know. Suppose it's an awful earthquake, the big one,

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Speaker 1: the nineteen oh six one that hits the Bay area again,

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Speaker 1: they're going to see runs on everything. You're going to

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Speaker 1: see a regional depression. Why wasn't anybody there simply for

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Speaker 1: that pH test. That's what's stocking to me. And I

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Speaker 1: can see why Elizabeth Warren and Sheila Bear and the

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Speaker 1: like are kind of apoplectic about this. Yeah, and I

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Speaker 1: do think like, ultimately, you cannot trust these companies to

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Speaker 1: regulate themselves, which means and I want to just have

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Speaker 1: two more seconds on this. If we have banks doing

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Speaker 1: shit like this, and we have trained companies doing shit

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Speaker 1: like this, imagine what tech companies are doing. But here's

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Speaker 1: a problem. Here's where I don't have faith the many

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Speaker 1: octogenarians in the Senate, in the House. You're gonna have

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Speaker 1: to present this on a CD ROM to them like

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Speaker 1: they're gonna be fighting the last battle. Look how long,

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Speaker 1: Look how long it took them to kind of you know,

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Speaker 1: Sarbanes Oxley and all the subprime deeds that were kind

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Speaker 1: of the crimes of two thousand and three to two

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Speaker 1: thousand and seven. And now we've already we already kind

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Speaker 1: of took care of this after subprime we regulated the banks.

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Speaker 1: They were all saying, this is deeply unfair. You get

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Speaker 1: a president who comes in whose deeply deregulation, as Ronald

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Speaker 1: Reagan was in his first term, and you kind of

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Speaker 1: undo things like this. It could have been somewhere else.

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Speaker 1: You could have seen bodies buried elsewhere. Nobody really expected

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Speaker 1: this to emanate from Silicon Valley, which is one of

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Speaker 1: the foremost think about its Silicon Valley Bank, Molly. I

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Speaker 1: had a doorman when I lived in New York from Tanzania, right,

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Speaker 1: and I remember during the financial crisis, he called me cousin,

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Speaker 1: and back and forth, I'd call him cousin. He comes

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Speaker 1: from the cradle of civilization. I would that if you

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Speaker 1: do a cheek swab test, we're probably distant cousins. He

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Speaker 1: was a day trader, and he would day trade on

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Speaker 1: the side, and he always talked to me about apple

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Speaker 1: options and everything. And at some point in two thousand

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Speaker 1: and eight, two thousand and nine, I think Bank of

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Speaker 1: America stock was in the low single digits, and he

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Speaker 1: turns to me as I'm going to work or going

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Speaker 1: to catch the bus outside, and he goes, cousin, do

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Speaker 1: you really think the Central Bank, the Federal Reserve will

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Speaker 1: let Bank of America fail? Think about it, cousin. And

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Speaker 1: so similarly Silicon Valley Bank. I mean, that's so iconic.

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Speaker 1: Would you let the Bank of New York film? We

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Speaker 1: danced with it with Lehman Brothers, and it was catastrophic

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Speaker 1: over a weekend. And that's where speculators have everybody else

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Speaker 1: kind of over a barrel. And that's that's still rankles,

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Speaker 1: you know. So the fan won't raise rates now because

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Speaker 1: they're too free down. I just don't know how they

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Speaker 1: come out and do this. You can't have a special

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Speaker 1: rate that's for let's say real estate which is too hot,

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Speaker 1: or fomo hospitality spending which is too hot, but the

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Speaker 1: banks pay another rate. You're having the banks effectively send

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Speaker 1: distress signals to the Federal Reserve. They might at worst

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Speaker 1: kind of put them on a hold. And let's see

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Speaker 1: to what extent the system can kind of the panic

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Speaker 1: can heal itself through the summer. But this is a

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Speaker 1: treacherous time. That's why no one has ever no one

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Speaker 1: has ever remembered a period where the Fed is hiked

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Speaker 1: this much without causing a deep recession. Right, And the

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Speaker 1: thing is we have now because of this bank run.

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Speaker 1: This should cool the economy. I feel it's deflationary. Like

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Speaker 1: what I said about those firms, is all of them

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Speaker 1: if they're suddenly trigger shy, if you were going to

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Speaker 1: go get another round of venture that's already been slow,

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Speaker 1: everybody else is thinking about signing off on an investment

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Speaker 1: or something, but more worried over the last you know,

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Speaker 1: seventy two hours about cash management and getting their money back.

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Speaker 1: It's about return of your capital, not return on your capital,

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Speaker 1: and that's always chilling, you know. Yeah, so interesting, Thank

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Speaker 1: you so much. This was great my pleasure. Mount Congresswoman

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Speaker 1: Catherine Clark is the Democratic whip and represents Massachusetts fifth

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Speaker 1: Congressional district. Welcome to Fast Politics, Congresswoman Clark, Oh, I

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Speaker 1: am so pleased to be here with Yumali. Well, we're

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Speaker 1: delighted to have you. I think we should start with

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Speaker 1: the budget. This is like such an interesting and I

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Speaker 1: think kind of brilliant development. The Biden administration offered up

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Speaker 1: a budget. The Republicans are now coming back with the budget.

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Speaker 1: The House Republicans. This may actually be someone playing three

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Speaker 1: dimensional chas you know, a budgets. There always a reflection

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Speaker 1: of our values and what we see. And President Biden

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Speaker 1: is that he sees us, he sees women, he sees families,

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Speaker 1: he sees communities, and that is reflected in what he's proposing,

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Speaker 1: you know, whether it's childcare, the reinstating the child tax credit,

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Speaker 1: paid leave addressing maternal health, having people of high wealth

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Speaker 1: and large corporate rations pay their fair share so we

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Speaker 1: can invest in climate rescue and invest in in our

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Speaker 1: families in this country. That's what his budget is doing.

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Speaker 1: And what we are seeing from the Republicans is not

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Speaker 1: much of anything. They are refusing to put forward a plan,

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Speaker 1: and they're trying to distract us from what they already

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Speaker 1: said they would do, which is roll back the inflation

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Speaker 1: rejection at roll back the cost savings we've already put

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Speaker 1: in place, and double down on their anti healthcare, anti abortion,

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Speaker 1: cuts to social security and medicare agenda. So let's talk

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Speaker 1: about abortion, because those of us who cover abortion and

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Speaker 1: those of us who watch our rights being taken away

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Speaker 1: from us. You know, there is a case in Texas,

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Speaker 1: Texas the place where all women's civil rights go to

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Speaker 1: die with the pills right now, and there's a judge

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Speaker 1: who may end up making it impossible for women to

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Speaker 1: get these pills, which are used also in miscarriage management.

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Speaker 1: You have been very public on your miscarriage. Talk to

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Speaker 1: us about what it's like to watch our rights being

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Speaker 1: taken away and what you think Democrats in the House

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Speaker 1: can do. It is terrifying to watch what is happening

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Speaker 1: to watch this judge out of Texas. That really is

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Speaker 1: one of the worst cases of form shopping to get

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Speaker 1: these cases in front of this particular judge. And you know,

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Speaker 1: we will see what this opinion ends up being, but

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Speaker 1: we are anticipating that this judge is very willing to

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Speaker 1: substitute his personal beliefs and opinions or an FDA approval

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Speaker 1: process and meditation that has been safely used for decades.

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Speaker 1: And that should be frightening to any American, no matter

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Speaker 1: what your views on abortion are, because that is such

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Speaker 1: a government intrusion and putting one person's belief systems over

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Speaker 1: science over healthcare for so many And I recently went

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Speaker 1: to Texas and met with providers and navigators and advocates,

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Speaker 1: and it was one of the most chilling visits in

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Speaker 1: conversations that I have had, just to see what women

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Speaker 1: are struggling with to get basic healthcare and being told

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Speaker 1: when they had a situation that is very common one

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Speaker 1: that I lived through where you have a miscarriage but

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Speaker 1: it is partial and you need to have abortion care

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Speaker 1: to prevent infection. These women are being told to go

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Speaker 1: home and wait till infection sets, so they spiked a

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Speaker 1: fever and the tails of sepsis, of women losing limbs

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Speaker 1: because of sepsis because they could not get the care

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Speaker 1: they needed. This should not be America in twenty twenty three,

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Speaker 1: but it very much is, and it is terrifying. Yeah,

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Speaker 1: and I mean and it's also I mean, I think

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Speaker 1: a really important data point here is its minority rule. Right,

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Speaker 1: American people are largely pro choice. This is a really

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Speaker 1: a safe and I would actually, I'm hoping you could

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Speaker 1: talk just for a minute about the FDA approval process

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Speaker 1: that these drugs go through, because they actually go through

429
00:23:40,880 --> 00:23:44,640
Speaker 1: a higher standard of FDA approval than normal drugs, that's right,

430
00:23:44,800 --> 00:23:48,480
Speaker 1: And it is a rigorous process, and you know with

431
00:23:48,680 --> 00:23:52,520
Speaker 1: abortion medication, it is one that took place in decades ago.

432
00:23:52,640 --> 00:23:56,400
Speaker 1: So not only do we have a very top approval

433
00:23:56,480 --> 00:24:00,240
Speaker 1: process for these drugs, but we have decades of use

434
00:24:00,400 --> 00:24:04,920
Speaker 1: where we know they are safe and affectives and what

435
00:24:05,000 --> 00:24:09,760
Speaker 1: we are seeing your point about the American people understand

436
00:24:09,920 --> 00:24:13,200
Speaker 1: what is at stake here, but this is a fundamental

437
00:24:13,280 --> 00:24:18,679
Speaker 1: freedom and that if local politicians are going to come

438
00:24:18,760 --> 00:24:21,800
Speaker 1: into your life and tell you if and when to

439
00:24:21,920 --> 00:24:27,480
Speaker 1: have children, regardless of your family situation, your doctor's advice,

440
00:24:27,760 --> 00:24:32,800
Speaker 1: your particular faith. That is an intrusion into fundamental liberty

441
00:24:33,200 --> 00:24:37,760
Speaker 1: and it is an economic issue. And so I think

442
00:24:37,800 --> 00:24:41,840
Speaker 1: it's why we saw that when abortion bands were on

443
00:24:41,880 --> 00:24:47,560
Speaker 1: the ballot in Kansas and Montana, in kntuct that they

444
00:24:47,560 --> 00:24:53,320
Speaker 1: were defeated because people understand and the American people are

445
00:24:53,440 --> 00:24:59,879
Speaker 1: for access to healthcare and the GOP is way at

446
00:25:00,040 --> 00:25:03,760
Speaker 1: a step with where we are, but in certain states,

447
00:25:03,800 --> 00:25:07,760
Speaker 1: in fourteen states, this has taken the holes. And the

448
00:25:07,880 --> 00:25:11,879
Speaker 1: danger of this potential decision out of Texas is that

449
00:25:12,000 --> 00:25:16,280
Speaker 1: it really is a step towards a national band. That

450
00:25:16,560 --> 00:25:20,240
Speaker 1: is really hard to comprehend how we are in this

451
00:25:20,400 --> 00:25:24,520
Speaker 1: situation and how we need to stay together to fight

452
00:25:24,600 --> 00:25:27,679
Speaker 1: back with everything that we have. I mean, I agree,

453
00:25:27,720 --> 00:25:32,159
Speaker 1: and it's completely almost shocking. So I want to ask

454
00:25:32,240 --> 00:25:35,800
Speaker 1: you this weekend, it was a pretty rough weekend for

455
00:25:36,040 --> 00:25:39,720
Speaker 1: those of us in the tech sector and all tech

456
00:25:39,760 --> 00:25:44,879
Speaker 1: adjacent with the Silicon Valley bank situation. Can you talk

457
00:25:45,000 --> 00:25:47,639
Speaker 1: me through just a little bit of how was the

458
00:25:47,720 --> 00:25:50,639
Speaker 1: decision to backstop that and how and the things the

459
00:25:50,680 --> 00:25:53,719
Speaker 1: government is doing now to make sure that this doesn't

460
00:25:53,800 --> 00:25:57,600
Speaker 1: that there isn't more contagient. The weekend was definitely spent

461
00:25:58,119 --> 00:26:01,680
Speaker 1: on the phone with people who were impacted. And in

462
00:26:01,720 --> 00:26:04,280
Speaker 1: my communities, right you have a lot of tech in

463
00:26:04,480 --> 00:26:08,360
Speaker 1: Boston too. We have a lot of tech in biotech.

464
00:26:08,520 --> 00:26:13,280
Speaker 1: Fifty to sixty percent bank with Silicon Valley Bank because

465
00:26:13,359 --> 00:26:17,160
Speaker 1: they are quite established in this area. And I also

466
00:26:17,240 --> 00:26:21,800
Speaker 1: heard from childcare centers that also bank there because they

467
00:26:21,840 --> 00:26:25,879
Speaker 1: took over a Boston bank a few years ago. And

468
00:26:25,960 --> 00:26:30,560
Speaker 1: so it was everything from small businesses too large that

469
00:26:30,640 --> 00:26:33,800
Speaker 1: were very concerned they weren't going to be able to

470
00:26:33,840 --> 00:26:37,520
Speaker 1: make payroll. And as we are on the cusp of

471
00:26:37,720 --> 00:26:45,840
Speaker 1: implementing all the climate protection policies and programs and construction

472
00:26:46,480 --> 00:26:49,320
Speaker 1: that we were able to put in the inflation reduction,

473
00:26:49,440 --> 00:26:53,840
Speaker 1: that this threat to the tech sector was really brought home,

474
00:26:54,119 --> 00:26:58,240
Speaker 1: and this threat to small businesses in my communities and

475
00:26:58,480 --> 00:27:03,080
Speaker 1: around the country. So our priorities were very clear. We

476
00:27:03,119 --> 00:27:09,720
Speaker 1: had to protect those businesses, investors, stockholders, they could ride

477
00:27:09,720 --> 00:27:13,439
Speaker 1: this out, but we needed to make sure that people

478
00:27:13,440 --> 00:27:16,760
Speaker 1: who for no fault of their own, were caught up

479
00:27:17,440 --> 00:27:20,560
Speaker 1: in this. And we're looking at payroll not being met

480
00:27:20,600 --> 00:27:24,399
Speaker 1: and all the ripple effects of that furlough notices and

481
00:27:24,520 --> 00:27:29,119
Speaker 1: layoff notices being sent out because companies had to get

482
00:27:29,240 --> 00:27:32,520
Speaker 1: rid of their payroll that they were afraid they weren't

483
00:27:32,560 --> 00:27:36,439
Speaker 1: going to be able to access. So I commend the

484
00:27:36,520 --> 00:27:43,080
Speaker 1: administration and Treasury in the FDIC for prioritizing those businesses

485
00:27:43,119 --> 00:27:47,360
Speaker 1: and making sure that when these banks opened on Monday,

486
00:27:48,040 --> 00:27:52,480
Speaker 1: that that was there, that depositors knew they could get

487
00:27:52,520 --> 00:27:56,080
Speaker 1: a hundred percent of their money back, and that was

488
00:27:56,119 --> 00:28:00,359
Speaker 1: our number one priority in making sure that their needs

489
00:28:00,400 --> 00:28:04,760
Speaker 1: were met and that at this still challenging post pandemic

490
00:28:04,880 --> 00:28:08,440
Speaker 1: part of our economy, that we were not going to

491
00:28:08,440 --> 00:28:13,560
Speaker 1: see widespread layoffs and failure to make payroll around the country.

492
00:28:14,000 --> 00:28:17,240
Speaker 1: Is this a regulatory failure? It could be. I think

493
00:28:17,280 --> 00:28:20,520
Speaker 1: we have to look at where we are at some

494
00:28:20,680 --> 00:28:25,520
Speaker 1: of the regulatory rollbacks from the Trump administration. Our number

495
00:28:25,560 --> 00:28:28,879
Speaker 1: one priority was making sure people could access their money

496
00:28:29,080 --> 00:28:33,080
Speaker 1: and make sure that these businesses, large and small, we're

497
00:28:33,160 --> 00:28:35,959
Speaker 1: not going to be forced to shut down. And we

498
00:28:36,000 --> 00:28:39,120
Speaker 1: wanted to make sure this did not become systemic with

499
00:28:39,320 --> 00:28:43,280
Speaker 1: regional banks around the country and that we stopped the

500
00:28:43,400 --> 00:28:46,280
Speaker 1: run on these banks. But we have to look into

501
00:28:46,440 --> 00:28:50,400
Speaker 1: the full investigation of what happened here, and hold those

502
00:28:50,480 --> 00:28:55,120
Speaker 1: bankers responsible for what they did, and also look to

503
00:28:55,280 --> 00:28:59,000
Speaker 1: our regulatory schemes and how we can further strength and

504
00:28:59,600 --> 00:29:03,760
Speaker 1: our banking system to make sure that they are operating

505
00:29:04,080 --> 00:29:08,040
Speaker 1: with stability and not taking too big a risk with

506
00:29:08,360 --> 00:29:12,520
Speaker 1: depositors Funday, yeah, exactly. Republicans have this very small margin,

507
00:29:12,600 --> 00:29:15,440
Speaker 1: but they still do have the House. How worried are

508
00:29:15,440 --> 00:29:18,800
Speaker 1: you about this debt ceiling crisis? It's not a crisis yet,

509
00:29:19,720 --> 00:29:25,479
Speaker 1: right theoretically. I mean, this whole crisis is one that

510
00:29:25,560 --> 00:29:29,840
Speaker 1: they had made up to further take a blow at

511
00:29:30,040 --> 00:29:34,760
Speaker 1: families in this country. It is a manufactured crisis, and

512
00:29:34,840 --> 00:29:38,680
Speaker 1: we only have to look back to the Trump administration

513
00:29:39,480 --> 00:29:44,600
Speaker 1: where one quarter of all the debts, all the deficit

514
00:29:44,720 --> 00:29:49,720
Speaker 1: in our country was brought on us by the Trump administration,

515
00:29:49,920 --> 00:29:53,960
Speaker 1: which is really one of the few areas of overachievement

516
00:29:54,160 --> 00:29:58,000
Speaker 1: of that particular administration that they could do that or

517
00:29:58,200 --> 00:30:03,600
Speaker 1: sort here. I shouldn't laugh, because we all suffered. But yes,

518
00:30:03,840 --> 00:30:06,920
Speaker 1: and then you know, then what we saw during those

519
00:30:07,640 --> 00:30:13,720
Speaker 1: four years were the GOP coming without any reservation to

520
00:30:13,800 --> 00:30:18,240
Speaker 1: raise the debt ceiling because they understand that that is

521
00:30:18,360 --> 00:30:22,480
Speaker 1: debt that they have already accrued, and that is what

522
00:30:22,520 --> 00:30:25,800
Speaker 1: we need to do. I mean, if we think this

523
00:30:26,040 --> 00:30:32,560
Speaker 1: banking situation was a crisis, I can't even imagine what

524
00:30:32,800 --> 00:30:36,960
Speaker 1: is going to happen if Republicans allow our economy and

525
00:30:37,080 --> 00:30:40,880
Speaker 1: the global economy to go over the cliffs. And what

526
00:30:40,920 --> 00:30:47,000
Speaker 1: they have said consistently until very recently is this is

527
00:30:47,040 --> 00:30:51,240
Speaker 1: the way that they can cut Social Security and Medicare.

528
00:30:51,640 --> 00:30:55,160
Speaker 1: And now the times to you know, cover that off

529
00:30:55,160 --> 00:30:58,360
Speaker 1: and backtracked on that. But it's out there. It's what

530
00:30:58,480 --> 00:31:02,560
Speaker 1: they wrote down, it's what they said on video on television,

531
00:31:02,920 --> 00:31:07,000
Speaker 1: and they don't have a plan. They want to say,

532
00:31:07,040 --> 00:31:11,360
Speaker 1: you know, the president needs to come and negotiate with us,

533
00:31:11,400 --> 00:31:15,240
Speaker 1: all right, put your terms out there, but they don't

534
00:31:15,280 --> 00:31:19,200
Speaker 1: want to show their cards because they understand that it

535
00:31:19,320 --> 00:31:23,760
Speaker 1: will be totally rigged against the American family and that

536
00:31:23,880 --> 00:31:26,920
Speaker 1: they are very clear who they work for. The first

537
00:31:27,160 --> 00:31:30,719
Speaker 1: build they put on the floor in their new majority

538
00:31:31,000 --> 00:31:34,320
Speaker 1: could have been about a million things that American people

539
00:31:34,360 --> 00:31:38,200
Speaker 1: care about, what's lowering the cost of healthcare, creating good jobs,

540
00:31:38,360 --> 00:31:44,720
Speaker 1: paper communities. But instead they protected high wealth tax chiefs.

541
00:31:44,840 --> 00:31:47,400
Speaker 1: That was their first of all, and their second and

542
00:31:47,520 --> 00:31:52,280
Speaker 1: third were about further anti abortion measures. So that's what

543
00:31:52,560 --> 00:31:57,040
Speaker 1: they are, and how they come out of this get

544
00:31:57,120 --> 00:32:01,680
Speaker 1: feeling crisis that they have manufactured is going to be

545
00:32:01,800 --> 00:32:06,160
Speaker 1: up to them. But we are here with the President's

546
00:32:06,240 --> 00:32:10,600
Speaker 1: budget that reflects the values of creating an autonomy that

547
00:32:10,640 --> 00:32:15,160
Speaker 1: works for everyone, and we're ready to negotiate with them

548
00:32:15,640 --> 00:32:18,720
Speaker 1: on all of this. But their focus isn't on the

549
00:32:18,760 --> 00:32:25,160
Speaker 1: American people. It's with power. It is with consolidating their

550
00:32:25,240 --> 00:32:29,440
Speaker 1: own power, and it's rewarding the very wealthy. And we

551
00:32:29,520 --> 00:32:32,080
Speaker 1: just can't let them make the winner circle in this

552
00:32:32,360 --> 00:32:35,720
Speaker 1: country so small. And we're going to continue to push

553
00:32:35,800 --> 00:32:40,600
Speaker 1: for all all those pieces of the budget and our

554
00:32:40,640 --> 00:32:44,680
Speaker 1: autonomy that work for families, because that's how we regain

555
00:32:45,160 --> 00:32:48,360
Speaker 1: our economic strength and grow for the future. I mean,

556
00:32:48,400 --> 00:32:51,520
Speaker 1: it's such a small majority, and you know, I mean

557
00:32:51,560 --> 00:32:55,600
Speaker 1: it's four or five seeds and Santos. The fact that

558
00:32:55,640 --> 00:32:57,840
Speaker 1: he's still even in there as kind of mind blowing.

559
00:32:57,960 --> 00:33:00,520
Speaker 1: I mean, do you think there's a world in which

560
00:33:00,640 --> 00:33:02,800
Speaker 1: Democrats are able to do I mean, if you just

561
00:33:02,880 --> 00:33:06,800
Speaker 1: look at the math, some of these candidates have one

562
00:33:07,040 --> 00:33:09,480
Speaker 1: in these very swingy districts. I mean a lot of

563
00:33:09,520 --> 00:33:11,680
Speaker 1: them won in New York. I mean do you think

564
00:33:11,720 --> 00:33:14,080
Speaker 1: there's a world where you could lull one or two?

565
00:33:14,320 --> 00:33:16,920
Speaker 1: You know, you really only need to lull like three

566
00:33:17,000 --> 00:33:20,400
Speaker 1: or four right over. I think that we have the

567
00:33:20,480 --> 00:33:23,760
Speaker 1: ability to work around like, let's say, the death feeling

568
00:33:24,040 --> 00:33:29,800
Speaker 1: that there are Republicans who understand how devastating taking our

569
00:33:29,840 --> 00:33:34,040
Speaker 1: economy into a deep recession. I don't think we really

570
00:33:34,080 --> 00:33:39,280
Speaker 1: even understand what would happen if we jeopardize our economy

571
00:33:39,440 --> 00:33:42,320
Speaker 1: in this way. So I think we're going to continue

572
00:33:42,320 --> 00:33:45,760
Speaker 1: to reach out and look for those partners. But we

573
00:33:45,880 --> 00:33:50,600
Speaker 1: are so focused on they have a five person majority

574
00:33:50,840 --> 00:33:54,320
Speaker 1: and we need to win the House in twenty twenty four.

575
00:33:54,760 --> 00:33:58,400
Speaker 1: And I can tell you that Democrats are optimistic. We

576
00:33:58,520 --> 00:34:03,480
Speaker 1: are energized, and we are fueled by meeting the needs

577
00:34:03,520 --> 00:34:07,760
Speaker 1: of the American people, putting people over politics, and we're

578
00:34:07,800 --> 00:34:11,200
Speaker 1: going to continue our work of loring costs, creating great,

579
00:34:11,239 --> 00:34:15,680
Speaker 1: paining jobs, and safer communities. That's where our focus will remain,

580
00:34:16,120 --> 00:34:19,879
Speaker 1: and the American people are with that agenda. It's why

581
00:34:19,960 --> 00:34:24,240
Speaker 1: we were able to defy political gravity in twenty two,

582
00:34:24,320 --> 00:34:26,719
Speaker 1: and it's why we're going to win in twenty four.

583
00:34:27,000 --> 00:34:31,319
Speaker 1: Thank you, thank you, thank you. Congresswoman Clark Thank you

584
00:34:31,400 --> 00:34:35,600
Speaker 1: so much, Molly. So good to be with you. Carlton

585
00:34:35,680 --> 00:34:40,920
Speaker 1: Huffman is a Republican operative. Welcome to you Fast Politics, Carlton.

586
00:34:41,320 --> 00:34:43,600
Speaker 1: Definitely a pleasure to be on the show, even if

587
00:34:43,640 --> 00:34:47,080
Speaker 1: I regret the circumstances. First of all, how did you

588
00:34:47,160 --> 00:34:49,680
Speaker 1: meet matchlap I just happened to be working on the

589
00:34:49,760 --> 00:34:52,960
Speaker 1: Hershel Walker for US Senate campaign as a regional director

590
00:34:53,000 --> 00:34:56,560
Speaker 1: for the Atlanta metro region, and he was coming to

591
00:34:56,640 --> 00:34:59,880
Speaker 1: Georgia for an event in Perry on October the nineteen

592
00:35:00,280 --> 00:35:03,200
Speaker 1: and needed a ride back to the Hilton Garden End

593
00:35:03,320 --> 00:35:05,920
Speaker 1: that day, and that was the first time I'd ever

594
00:35:05,960 --> 00:35:09,440
Speaker 1: met him. Explained to me a little bit about whatever

595
00:35:09,560 --> 00:35:12,640
Speaker 1: you feel comfortable telling. Man. It started out as a

596
00:35:12,680 --> 00:35:16,359
Speaker 1: normal day. We were coming back from Perry, where I

597
00:35:16,400 --> 00:35:19,440
Speaker 1: had picked him up, and we drove back to his

598
00:35:19,560 --> 00:35:24,080
Speaker 1: hotel in Atlanta that day, and it was an interesting conversation.

599
00:35:24,239 --> 00:35:27,560
Speaker 1: He talked about Disney firing him for his comments about

600
00:35:27,600 --> 00:35:31,920
Speaker 1: Black Lives Matter, spoke very fawningly about Kerry Lake, and

601
00:35:32,200 --> 00:35:36,560
Speaker 1: managed to sneak in some compliments to Victor Orbond throughout

602
00:35:36,600 --> 00:35:39,799
Speaker 1: that nation. While processing all of that got him back

603
00:35:39,840 --> 00:35:42,160
Speaker 1: to the hotel. Thought that that was the end of it,

604
00:35:42,320 --> 00:35:43,719
Speaker 1: and thought that would be the last guy I'd ever

605
00:35:43,800 --> 00:35:47,719
Speaker 1: see of him. And then I found out that he

606
00:35:48,120 --> 00:35:51,480
Speaker 1: had technically invited himself to a rally the next day

607
00:35:51,520 --> 00:35:54,120
Speaker 1: that was going to be in Macon, Georgia. And then

608
00:35:54,160 --> 00:35:56,799
Speaker 1: I received a text from him that afternoon invited me

609
00:35:56,920 --> 00:35:59,560
Speaker 1: to come out to drinks at the Capitol Grille and

610
00:35:59,640 --> 00:36:04,040
Speaker 1: Buck and seemed to be a normal livitation. I had

611
00:36:04,080 --> 00:36:07,920
Speaker 1: been around a lot of Principles before and surrogates and

612
00:36:08,560 --> 00:36:12,239
Speaker 1: had been invited to dine or have a beer with

613
00:36:12,440 --> 00:36:15,200
Speaker 1: multiple ones, and thought that this was going to be

614
00:36:15,440 --> 00:36:17,319
Speaker 1: just like one of those, when it ended up going

615
00:36:17,560 --> 00:36:21,200
Speaker 1: quite the opposite direction. When did you realize that this

616
00:36:21,680 --> 00:36:24,120
Speaker 1: is not what you thought it was? I would say

617
00:36:24,200 --> 00:36:28,080
Speaker 1: at the Capitol Grill whenever he had finished dining with

618
00:36:28,120 --> 00:36:31,960
Speaker 1: a donor, he came out from that dinner and then

619
00:36:32,040 --> 00:36:36,640
Speaker 1: joined me at the bar, and at that point seemed

620
00:36:36,680 --> 00:36:41,600
Speaker 1: to make the conversation entirely about personal things and tried

621
00:36:41,640 --> 00:36:45,800
Speaker 1: to focus the conversation on me as opposed to keeping

622
00:36:45,800 --> 00:36:50,160
Speaker 1: it at a professional level, and made the point multiple

623
00:36:50,280 --> 00:36:54,160
Speaker 1: times that he was sorry that the bar was dead,

624
00:36:54,640 --> 00:36:57,560
Speaker 1: and seemed to want to go to a livelier place.

625
00:36:57,760 --> 00:37:01,360
Speaker 1: And then that's whenever I suggested Manuel's Haven there close

626
00:37:01,400 --> 00:37:05,640
Speaker 1: to midtown Atlanta, and we went down there, and definitely,

627
00:37:05,680 --> 00:37:08,160
Speaker 1: within a few moments of sitting down at Manuel's cavern,

628
00:37:08,280 --> 00:37:12,279
Speaker 1: it took a turn from the weird to the very uncomfortable.

629
00:37:12,640 --> 00:37:15,799
Speaker 1: Can you say a little more about that. So it's

630
00:37:15,840 --> 00:37:19,479
Speaker 1: a bar stool set up, and so we're sitting next

631
00:37:19,480 --> 00:37:22,520
Speaker 1: to each other on the bar stools, and I've been

632
00:37:22,520 --> 00:37:26,279
Speaker 1: with friends to that place, and I never got as

633
00:37:26,320 --> 00:37:29,160
Speaker 1: close to them as he got to me too, literally

634
00:37:29,200 --> 00:37:32,600
Speaker 1: to the point that he had full thigh on thigh

635
00:37:32,640 --> 00:37:38,560
Speaker 1: contact and it was sustained contact, and I tried to

636
00:37:38,880 --> 00:37:41,560
Speaker 1: move away from him. I tried to make it subtle

637
00:37:41,640 --> 00:37:45,120
Speaker 1: so it didn't seem too obvious and make the situation awkward.

638
00:37:45,200 --> 00:37:49,799
Speaker 1: And that's whenever he turned into me very closely. And

639
00:37:49,840 --> 00:37:53,759
Speaker 1: that's whenever he bumped into it. Being Georgia a constitutional

640
00:37:53,800 --> 00:37:56,879
Speaker 1: carry state, so I was carrying my firearm with me

641
00:37:57,160 --> 00:37:59,520
Speaker 1: and he bumped into it and he asked what it was,

642
00:37:59,560 --> 00:38:01,959
Speaker 1: and I said, it's my sixth hour and he goes,

643
00:38:02,040 --> 00:38:04,920
Speaker 1: what's a sixth hour. I'm like, it's my firearm. And

644
00:38:04,960 --> 00:38:07,879
Speaker 1: then mister defended the Second Amendment goes, well, I grew

645
00:38:08,000 --> 00:38:11,560
Speaker 1: up in Kansas, so I don't know that much about guns,

646
00:38:10,840 --> 00:38:13,840
Speaker 1: and but that was how little close that he was

647
00:38:13,920 --> 00:38:17,919
Speaker 1: to me. And I was like starting to get very

648
00:38:18,000 --> 00:38:21,240
Speaker 1: uncomfortable at that point, and so I intently turned away

649
00:38:21,280 --> 00:38:23,480
Speaker 1: and was focused on the baseball game that was only

650
00:38:23,520 --> 00:38:25,759
Speaker 1: at the time. And then he said to me, in

651
00:38:25,760 --> 00:38:27,600
Speaker 1: a tone that I will never forget for the rest

652
00:38:27,600 --> 00:38:31,439
Speaker 1: of my life, do you have a problem looking at me? Yeah.

653
00:38:31,640 --> 00:38:35,080
Speaker 1: I turned and made just very brief eye contact with

654
00:38:35,160 --> 00:38:37,520
Speaker 1: him and just tried to alk, really say, well, we're

655
00:38:37,520 --> 00:38:41,160
Speaker 1: just two dudes having a drink watching sports. But just

656
00:38:41,200 --> 00:38:43,560
Speaker 1: the look in his eye I could tell that it

657
00:38:43,640 --> 00:38:47,600
Speaker 1: was not an innocent look. And I was very quickly

658
00:38:47,640 --> 00:38:49,319
Speaker 1: at that point wanting to get out of that bar,

659
00:38:49,480 --> 00:38:52,520
Speaker 1: get him back to his hotel, and be done with

660
00:38:52,640 --> 00:38:55,640
Speaker 1: that night. And then you still had to drive him

661
00:38:55,680 --> 00:38:58,360
Speaker 1: other places, right, I had to drive him back to

662
00:38:58,440 --> 00:39:01,320
Speaker 1: his hotel, which was a Hilt Garden in in College Park.

663
00:39:01,520 --> 00:39:05,759
Speaker 1: And that's when the most agregious grouping went on. Yeah.

664
00:39:05,880 --> 00:39:10,000
Speaker 1: So literally after we af you turn off of Highland Avenue,

665
00:39:10,080 --> 00:39:12,920
Speaker 1: you turn onto the John Lewis Freedom Parkway, and before

666
00:39:12,960 --> 00:39:15,040
Speaker 1: you get on the interstates and you see the entire

667
00:39:15,080 --> 00:39:18,319
Speaker 1: Atlanta skyline spread in front of you. And it was

668
00:39:18,480 --> 00:39:20,840
Speaker 1: right at that point. I mean, there's about a fifteen

669
00:39:20,880 --> 00:39:23,680
Speaker 1: twenty minute drive, and but then just a few minutes

670
00:39:23,719 --> 00:39:25,840
Speaker 1: of that drive starting, he put his hand on my

671
00:39:25,920 --> 00:39:28,680
Speaker 1: leg and left it there for pretty much the duration

672
00:39:28,719 --> 00:39:30,880
Speaker 1: of the drive back to the parking lot of the hotel.

673
00:39:31,239 --> 00:39:36,640
Speaker 1: So were you completely surprised by this or had did

674
00:39:36,640 --> 00:39:41,040
Speaker 1: you have some hint that this was not totally unusual

675
00:39:41,080 --> 00:39:45,440
Speaker 1: behavior for him. Subsequent to this happening and talking to

676
00:39:45,560 --> 00:39:49,719
Speaker 1: more people that are in his orbit, became aware that

677
00:39:49,800 --> 00:39:54,400
Speaker 1: he did have a certain inclination. But before that I

678
00:39:54,440 --> 00:39:58,120
Speaker 1: had no clue whatsoever. I definitely would not have accepted

679
00:39:58,120 --> 00:40:02,440
Speaker 1: an invitation to go out that evening. And also, you know,

680
00:40:02,560 --> 00:40:05,080
Speaker 1: you should be free to go wherever you want without

681
00:40:05,120 --> 00:40:08,440
Speaker 1: being harassed. I mean, you know, even if you knew that,

682
00:40:08,600 --> 00:40:10,800
Speaker 1: he still doesn't have a right to do it. Yeah,

683
00:40:11,200 --> 00:40:14,000
Speaker 1: for me, it's a kind of a weird thing too

684
00:40:14,120 --> 00:40:17,680
Speaker 1: that in my head I would have probably if he

685
00:40:17,719 --> 00:40:19,799
Speaker 1: had kept it to what happened at the bar, I

686
00:40:19,880 --> 00:40:22,120
Speaker 1: probably would not have said anything. I would have just

687
00:40:22,200 --> 00:40:24,520
Speaker 1: chalked it up to the fact that the man's been drinking.

688
00:40:24,719 --> 00:40:28,960
Speaker 1: He had at least eight Tito's and bob Ga and

689
00:40:29,000 --> 00:40:33,680
Speaker 1: water Jesus at evening. So I would have chalked about

690
00:40:33,680 --> 00:40:36,320
Speaker 1: to say, okay, the man was drinking and forgot himself,

691
00:40:36,360 --> 00:40:39,480
Speaker 1: and I would have left it alone. But the that,

692
00:40:39,880 --> 00:40:42,640
Speaker 1: but after his hand was on my leg, just as

693
00:40:42,640 --> 00:40:45,319
Speaker 1: we were getting back to the Hilton Garden inn is

694
00:40:45,400 --> 00:40:49,239
Speaker 1: whenever he reached over and groped me for at least

695
00:40:49,239 --> 00:40:52,880
Speaker 1: five seconds. Then he texted you after that. He actually

696
00:40:52,880 --> 00:40:57,160
Speaker 1: called me too, he asked after he had groped me,

697
00:40:57,239 --> 00:41:01,600
Speaker 1: and I was just since dounn silence up to the entrance.

698
00:41:01,680 --> 00:41:03,799
Speaker 1: He asked if I wanted to come up with him,

699
00:41:03,920 --> 00:41:07,960
Speaker 1: and I declined, both out of just number one, just

700
00:41:08,000 --> 00:41:12,120
Speaker 1: shock at what had just happened, and also just wanting

701
00:41:12,120 --> 00:41:14,320
Speaker 1: to I mean, I've been wanting to get away throughout

702
00:41:14,440 --> 00:41:17,279
Speaker 1: most of that evening, but now I definitely wanted to

703
00:41:17,320 --> 00:41:20,680
Speaker 1: get as far away from him as possible. And shortly

704
00:41:20,719 --> 00:41:25,520
Speaker 1: after I left, he called, and I just was eager

705
00:41:25,560 --> 00:41:27,920
Speaker 1: to just get the conversation over with, and so I

706
00:41:28,040 --> 00:41:30,080
Speaker 1: just told him like, yeah, this is the plan for

707
00:41:30,120 --> 00:41:32,560
Speaker 1: tomorrow morning, and at what time do we need to

708
00:41:32,600 --> 00:41:37,880
Speaker 1: be ready, and I immediately began texting and calling several

709
00:41:37,920 --> 00:41:40,720
Speaker 1: close friends and folks that I've been talking to throughout

710
00:41:40,719 --> 00:41:43,600
Speaker 1: that day and began to let them know immediately what

711
00:41:43,719 --> 00:41:46,759
Speaker 1: had happened. And by the time I got to the

712
00:41:46,760 --> 00:41:50,280
Speaker 1: place I was staying at in Atlanta, just broke down.

713
00:41:50,600 --> 00:41:53,640
Speaker 1: Tell me about your decision to come forward. The very

714
00:41:53,680 --> 00:41:56,439
Speaker 1: next morning, I just knew that I had to tell

715
00:41:56,600 --> 00:41:58,800
Speaker 1: the campaign because I was not going to be alone

716
00:41:58,880 --> 00:42:00,560
Speaker 1: in a car with him to me, and if I

717
00:42:00,600 --> 00:42:03,000
Speaker 1: had gone through with it, I'd have been alone again

718
00:42:03,040 --> 00:42:05,560
Speaker 1: in a car with him for hours that day, and

719
00:42:05,600 --> 00:42:08,040
Speaker 1: I just was not going to do it. And so

720
00:42:08,280 --> 00:42:12,200
Speaker 1: the Walker campaign. Whatever else folks may say about that campaign,

721
00:42:12,360 --> 00:42:16,000
Speaker 1: the folks that handled the situation handled it perfectly. They

722
00:42:16,160 --> 00:42:19,640
Speaker 1: believed me, They took every action that could to protect me,

723
00:42:20,160 --> 00:42:24,640
Speaker 1: and I cannot say enough great things about those individuals

724
00:42:24,640 --> 00:42:28,239
Speaker 1: on the campaign. It's good, I will say. As far

725
00:42:28,320 --> 00:42:32,120
Speaker 1: as publicly coming forward, I just knew that I could

726
00:42:32,160 --> 00:42:35,799
Speaker 1: not let him get the opportunity to do this to

727
00:42:35,840 --> 00:42:38,000
Speaker 1: anybody else without the world knowing the kind of man

728
00:42:38,040 --> 00:42:40,680
Speaker 1: that he is. He came forward to the people in

729
00:42:40,719 --> 00:42:43,040
Speaker 1: the campaign. But when did you decide to really come

730
00:42:43,080 --> 00:42:47,160
Speaker 1: out with the allegation. I knew that in the campaign

731
00:42:47,320 --> 00:42:50,920
Speaker 1: I wanted to keep off the radar. Obviously, the October

732
00:42:51,040 --> 00:42:54,279
Speaker 1: was not the kindest month to the Heart Correction campaign. Yes,

733
00:42:54,719 --> 00:42:56,319
Speaker 1: I mean, and it felt like I mean, I am

734
00:42:56,320 --> 00:42:59,880
Speaker 1: a hartisan Republican. I wanted us to win that race,

735
00:43:00,000 --> 00:43:02,440
Speaker 1: so I did not want to serve as a distraction.

736
00:43:02,560 --> 00:43:06,719
Speaker 1: But I knew if he had attempted to disrupt my

737
00:43:06,760 --> 00:43:09,680
Speaker 1: professional well being at that time, I would have said something.

738
00:43:09,719 --> 00:43:12,040
Speaker 1: But I definitely knew that as soon as the campaign

739
00:43:12,120 --> 00:43:14,080
Speaker 1: was over at the right time, I was going to

740
00:43:14,080 --> 00:43:17,480
Speaker 1: say something to be sure that whether he's held to

741
00:43:17,520 --> 00:43:20,680
Speaker 1: account by a judicial standard or not, that the world

742
00:43:20,719 --> 00:43:22,080
Speaker 1: is at least going to know the kind of man

743
00:43:22,160 --> 00:43:26,040
Speaker 1: that he is. Yeah, and when that happened, what was

744
00:43:26,080 --> 00:43:28,879
Speaker 1: it like? I mean, like a lot of people will

745
00:43:28,880 --> 00:43:31,640
Speaker 1: have experiences like this, don't want to come forward because

746
00:43:31,680 --> 00:43:34,839
Speaker 1: they're worried about what happens once you come out. So

747
00:43:34,960 --> 00:43:36,759
Speaker 1: tell us a little bit about what happened when you

748
00:43:36,800 --> 00:43:40,719
Speaker 1: came out. I would say for every person who has

749
00:43:40,760 --> 00:43:43,800
Speaker 1: had trepidation about coming forward, I mean, I can definitely

750
00:43:43,800 --> 00:43:48,600
Speaker 1: speak to that experience firsthand that it is rough. I

751
00:43:48,640 --> 00:43:51,960
Speaker 1: will say that I have had the blessing of people

752
00:43:52,000 --> 00:43:55,920
Speaker 1: believing me, But at the same time, the opposition has

753
00:43:55,960 --> 00:43:59,800
Speaker 1: been very vociferous, if not just downright ruthless in terms

754
00:44:00,400 --> 00:44:02,400
Speaker 1: willing to go through every bit of my past, and

755
00:44:02,480 --> 00:44:04,560
Speaker 1: I will admit that I do not have a perfect past.

756
00:44:04,680 --> 00:44:07,360
Speaker 1: It's a past that I've turned away from in many regards.

757
00:44:07,440 --> 00:44:10,360
Speaker 1: But still at the same time, it comes out in

758
00:44:10,440 --> 00:44:12,719
Speaker 1: this context, it's going to be used against you. And

759
00:44:12,800 --> 00:44:16,680
Speaker 1: I've suffered as a result of this because Tom Tillis

760
00:44:16,800 --> 00:44:20,080
Speaker 1: said you were a very good campaign aid. Like I said,

761
00:44:20,120 --> 00:44:23,400
Speaker 1: I cannot send up nice things about Senator Tillis personally

762
00:44:23,600 --> 00:44:26,480
Speaker 1: and politically. Like I said, he's a good man. And

763
00:44:26,640 --> 00:44:29,120
Speaker 1: I've had a lot of other folks too behind the

764
00:44:29,160 --> 00:44:31,920
Speaker 1: scenes that have been willing to give words of support

765
00:44:32,040 --> 00:44:35,560
Speaker 1: and encouragements, and not just words, but have taken actions

766
00:44:35,600 --> 00:44:40,480
Speaker 1: as well. So I consider today that dedicated my professional

767
00:44:40,560 --> 00:44:44,560
Speaker 1: life to the advancing conservatism and advancing the Republican Party.

768
00:44:44,960 --> 00:44:49,480
Speaker 1: This episode has definitely disrupted that and will likely do

769
00:44:49,640 --> 00:44:54,359
Speaker 1: so indefinitely, But I still consider it worthwhile if it

770
00:44:54,400 --> 00:44:56,359
Speaker 1: means that not one more person has to go through

771
00:44:56,400 --> 00:44:58,360
Speaker 1: what I went through at the handsome match lap because

772
00:44:58,360 --> 00:45:01,120
Speaker 1: the behavior that he exhibited that night, it was not

773
00:45:02,000 --> 00:45:04,920
Speaker 1: behavior that you would say as a one off kind

774
00:45:04,920 --> 00:45:07,319
Speaker 1: of episode just because that they were drinking. Do you

775
00:45:07,440 --> 00:45:10,600
Speaker 1: feel like there were people who turned away from you

776
00:45:10,719 --> 00:45:16,399
Speaker 1: because your allegations were about their guy? I would say that,

777
00:45:16,760 --> 00:45:20,560
Speaker 1: I mean the majority of people, at least that I

778
00:45:20,719 --> 00:45:23,960
Speaker 1: know firsthand. I mean, I have not had anybody in

779
00:45:24,000 --> 00:45:27,960
Speaker 1: my personal or professional life turn against me because of

780
00:45:27,960 --> 00:45:31,480
Speaker 1: the allegations. I know that some people have had to

781
00:45:31,560 --> 00:45:35,040
Speaker 1: distance themselves from me because of the APO jumps that

782
00:45:35,120 --> 00:45:38,720
Speaker 1: the other side has done on me, and I definitely

783
00:45:38,840 --> 00:45:42,000
Speaker 1: understand their reasoning for it, because I've never wanted to

784
00:45:42,040 --> 00:45:45,480
Speaker 1: be a cause of damage to anybody that I've worked

785
00:45:45,480 --> 00:45:48,080
Speaker 1: for or worked with. I want to like talk through

786
00:45:48,120 --> 00:45:52,279
Speaker 1: the timetable of this. So you come out as an

787
00:45:52,320 --> 00:45:55,960
Speaker 1: anonymous source, yes, but people behind the scenes know who

788
00:45:56,000 --> 00:45:59,000
Speaker 1: you are, but not publically. And then at some point

789
00:45:59,040 --> 00:46:01,840
Speaker 1: you are forced could come out publicly. Can you explain

790
00:46:01,880 --> 00:46:05,439
Speaker 1: what happened there? Well, you had several folks that were

791
00:46:05,480 --> 00:46:08,200
Speaker 1: associated with the slaps that went ahead and put my

792
00:46:08,320 --> 00:46:11,399
Speaker 1: name out there. Right, that's a very trumpy thing, right,

793
00:46:11,680 --> 00:46:16,040
Speaker 1: And without getting into the who and their background, but

794
00:46:16,200 --> 00:46:18,319
Speaker 1: they went ahead and put my name out there, and

795
00:46:18,320 --> 00:46:23,040
Speaker 1: it was shortly thereafter that someone who was associated with

796
00:46:23,080 --> 00:46:26,400
Speaker 1: some Shenanigans during the twenty twenty campaign that I worked

797
00:46:26,440 --> 00:46:29,120
Speaker 1: with was the one who put together the APO that

798
00:46:29,239 --> 00:46:31,640
Speaker 1: was sent to the North Carolina Legislature that calls me

799
00:46:31,719 --> 00:46:35,880
Speaker 1: to resign my position. The OPO contained views that I

800
00:46:35,920 --> 00:46:38,680
Speaker 1: had once expressed that I had long walked away from.

801
00:46:38,680 --> 00:46:41,359
Speaker 1: But at the same time I acknowledged the ugliness of

802
00:46:41,400 --> 00:46:45,640
Speaker 1: them and regret them and definitely don't just apologize for

803
00:46:45,719 --> 00:46:48,279
Speaker 1: offense that they caused anybody else, But I mean they

804
00:46:48,280 --> 00:46:50,439
Speaker 1: are an offense to me that I ever helped them.

805
00:46:50,560 --> 00:46:53,239
Speaker 1: But I can sit here and say that I turned

806
00:46:53,239 --> 00:46:55,960
Speaker 1: away from them, not just in words but indeeds. The

807
00:46:56,000 --> 00:47:00,759
Speaker 1: fact that I expressed Coro Confederate views and nationalist views

808
00:47:01,440 --> 00:47:03,279
Speaker 1: gave way to a place in my life where in

809
00:47:03,320 --> 00:47:06,400
Speaker 1: twenty twenty, I attended a Black Lives Matter rally in

810
00:47:06,480 --> 00:47:09,520
Speaker 1: support of the memory of George Floyd and a mod

811
00:47:09,640 --> 00:47:14,959
Speaker 1: Rbory and definitely have made a point of standing up

812
00:47:15,000 --> 00:47:17,040
Speaker 1: and saying that black lives matter to the point that

813
00:47:17,080 --> 00:47:20,239
Speaker 1: it cost me several conservative friends, because I felt it

814
00:47:20,280 --> 00:47:23,399
Speaker 1: was the right thing to do so the ugliness that

815
00:47:24,040 --> 00:47:26,799
Speaker 1: I once held in my heart back in the late

816
00:47:26,840 --> 00:47:30,560
Speaker 1: two thousand oughts and then the early two tens gave

817
00:47:30,600 --> 00:47:33,879
Speaker 1: way to a very different person by the time two

818
00:47:34,280 --> 00:47:37,480
Speaker 1: twenty had come around. But at the same time, when

819
00:47:37,480 --> 00:47:40,320
Speaker 1: it comes to politics, people are going to dig, and

820
00:47:40,360 --> 00:47:43,440
Speaker 1: I unfortunately gave them some opo to use and they

821
00:47:43,520 --> 00:47:45,960
Speaker 1: used it. So this lawsuit made it so you had

822
00:47:46,000 --> 00:47:49,520
Speaker 1: to come out. You revealed yourself to the Washington Post. Yes,

823
00:47:49,880 --> 00:47:56,160
Speaker 1: and that was a pretty big deal. What happened then, Well,

824
00:47:56,239 --> 00:47:59,799
Speaker 1: the other side definitely, I mean definitely come out at

825
00:48:00,320 --> 00:48:04,120
Speaker 1: trying to dig and try to put out other stuff

826
00:48:04,160 --> 00:48:06,280
Speaker 1: as well. I will say, as far as the issue

827
00:48:06,280 --> 00:48:10,320
Speaker 1: of Raleigh that was reported, can you talk to us

828
00:48:10,400 --> 00:48:13,480
Speaker 1: about the nineteen year old woman Without getting too much

829
00:48:13,520 --> 00:48:16,760
Speaker 1: into detail about it, I will just simply say it

830
00:48:16,800 --> 00:48:18,759
Speaker 1: was a party that took place from the night of

831
00:48:18,760 --> 00:48:21,239
Speaker 1: February the fourteenth and to the night or to the

832
00:48:21,280 --> 00:48:25,960
Speaker 1: morning of February fifteenth. With that incident, it was investigated

833
00:48:26,000 --> 00:48:29,799
Speaker 1: by the Raleigh Police Department. It took both their testimony

834
00:48:29,880 --> 00:48:32,839
Speaker 1: and my testimony, and I will just simply refer back

835
00:48:32,840 --> 00:48:35,680
Speaker 1: to what the Raleigh Police detectives who investigated the case

836
00:48:35,760 --> 00:48:38,799
Speaker 1: said to me, a crime did not occur here. The

837
00:48:38,880 --> 00:48:42,560
Speaker 1: case is closed. And so if I was in any

838
00:48:42,600 --> 00:48:45,839
Speaker 1: way guilty of any or at least had given enough

839
00:48:45,920 --> 00:48:49,400
Speaker 1: calls for any kind of behavior, I would not be

840
00:48:49,480 --> 00:48:51,640
Speaker 1: standing here just as a plaintiff. I would be sitting

841
00:48:51,680 --> 00:48:53,680
Speaker 1: here in a very opposite way in terms of the

842
00:48:53,680 --> 00:48:57,319
Speaker 1: criminal justice system. Right, but this woman was granted a

843
00:48:57,360 --> 00:49:01,680
Speaker 1: protective ordiner who was Can you just is strapolate on

844
00:49:01,719 --> 00:49:04,319
Speaker 1: that for a minute? Is that sort of standard? This

845
00:49:04,400 --> 00:49:06,400
Speaker 1: is my first time dealing with the situation like this,

846
00:49:07,560 --> 00:49:11,720
Speaker 1: so a right, I mean beyond just the fact that

847
00:49:12,239 --> 00:49:15,160
Speaker 1: I'm confused by the situation, by the simple fact that

848
00:49:15,200 --> 00:49:18,000
Speaker 1: the Roley Police Department investigated it and found no calls

849
00:49:18,040 --> 00:49:22,080
Speaker 1: for charge. So why after the fact that protective order

850
00:49:22,080 --> 00:49:25,520
Speaker 1: was sold and granted. I can only testify that that's

851
00:49:25,640 --> 00:49:28,960
Speaker 1: the decision of the judge in that case. Right explained

852
00:49:29,040 --> 00:49:32,359
Speaker 1: us where you are now, You're out there, people know

853
00:49:32,440 --> 00:49:35,440
Speaker 1: who you are. You are. I mean, what is the

854
00:49:35,480 --> 00:49:39,880
Speaker 1: next step here in your case against match Lab? We

855
00:49:40,000 --> 00:49:42,600
Speaker 1: go forward with my name on the case that we

856
00:49:42,640 --> 00:49:45,839
Speaker 1: are going to go forward and we'll see, I mean,

857
00:49:45,880 --> 00:49:48,960
Speaker 1: what the timeline is on that one. It is something

858
00:49:49,000 --> 00:49:52,840
Speaker 1: that could stretch well into later this year or into

859
00:49:53,000 --> 00:49:55,640
Speaker 1: next year. But at the same time, I know the

860
00:49:55,680 --> 00:49:58,840
Speaker 1: truth about what happened on occover of the nineteenth, twenty

861
00:49:59,080 --> 00:50:03,440
Speaker 1: twenty two, and Matt knows it too, and we're going

862
00:50:03,520 --> 00:50:06,160
Speaker 1: to do I mean, as far as myself, I'm going

863
00:50:06,200 --> 00:50:10,040
Speaker 1: forward on this case and the truth will be bore out.

864
00:50:10,480 --> 00:50:14,440
Speaker 1: Have you heard from anyone else? I would say privately, quietly,

865
00:50:14,520 --> 00:50:17,200
Speaker 1: I have heard from some folks, but nothing, nothing with

866
00:50:17,280 --> 00:50:21,480
Speaker 1: any specificity. So that's sort of interesting. Do you think

867
00:50:21,600 --> 00:50:24,799
Speaker 1: that there'll be other people coming forward? I can only speculate.

868
00:50:25,080 --> 00:50:28,200
Speaker 1: I can definitely say if people witness what is happening

869
00:50:28,200 --> 00:50:31,320
Speaker 1: to me, I can understand any trepidation about coming forward

870
00:50:31,360 --> 00:50:34,840
Speaker 1: about stuff like this, whether it's in regards to the

871
00:50:34,920 --> 00:50:39,400
Speaker 1: specific individual or others. But for me, I feel that

872
00:50:39,640 --> 00:50:42,799
Speaker 1: the victory has already been one in the sense we'll

873
00:50:42,840 --> 00:50:45,760
Speaker 1: be able to protect themselves against anything that Matt Slat

874
00:50:45,760 --> 00:50:50,160
Speaker 1: will do, whether it's behavior that is tied with alcohol

875
00:50:50,480 --> 00:50:53,080
Speaker 1: or it is who he is periods. But I can

876
00:50:53,120 --> 00:50:56,239
Speaker 1: just sit here and say that I am satisfied that

877
00:50:56,320 --> 00:50:59,200
Speaker 1: people will be able to protect themselves in regards to him,

878
00:50:59,400 --> 00:51:02,239
Speaker 1: and that's a victory in another itself at the end

879
00:51:02,280 --> 00:51:05,360
Speaker 1: of the day and makes whatever I'm going through worthwhile. Carlton,

880
00:51:05,520 --> 00:51:07,840
Speaker 1: thank you so much for joining us and talking through this.

881
00:51:08,040 --> 00:51:12,759
Speaker 1: I know that there's a lot of not the funnest

882
00:51:13,360 --> 00:51:16,120
Speaker 1: use of twenty minutes for you, So I really appreciate

883
00:51:16,160 --> 00:51:18,640
Speaker 1: you joining us. I appreciate to you give me the

884
00:51:18,680 --> 00:51:27,960
Speaker 1: time and your coverage of this. Molly junk Fast, Jesse Cannon.

885
00:51:28,880 --> 00:51:32,640
Speaker 1: So my moment of fuckery today is about an industry

886
00:51:32,680 --> 00:51:34,839
Speaker 1: that is near and dear to my heart because my

887
00:51:34,960 --> 00:51:38,960
Speaker 1: beloved husband is a venture capitalist. It's about venture capital.

888
00:51:39,239 --> 00:51:43,440
Speaker 1: Over this weekend, the sixteenth largest bank in America, Silicon

889
00:51:43,520 --> 00:51:47,440
Speaker 1: Valley Bank, had a run on It was unable to

890
00:51:47,560 --> 00:51:50,440
Speaker 1: raise the capital it needed and was seized by the

891
00:51:50,440 --> 00:51:54,760
Speaker 1: federal government. And over the weekend a lot of Silicon

892
00:51:54,840 --> 00:51:58,439
Speaker 1: Valley people were pretty freaked out. And in the end,

893
00:51:58,600 --> 00:52:03,640
Speaker 1: the federal governments stepped in on Sunday and did the

894
00:52:03,719 --> 00:52:06,760
Speaker 1: right thing and shored up the bank and was able

895
00:52:06,800 --> 00:52:10,920
Speaker 1: to prevent a bank run, which was very good. Now again,

896
00:52:11,400 --> 00:52:14,080
Speaker 1: is it good. It's good that there wasn't a bank run.

897
00:52:14,480 --> 00:52:18,880
Speaker 1: Is it complicated, Yes, it's complicated. Our venture capitalists now

898
00:52:19,080 --> 00:52:26,600
Speaker 1: congratulating themselves mercilessly. Yes, you guys, the government helped you

899
00:52:27,239 --> 00:52:30,640
Speaker 1: shut the fuck up. And I say this as someone

900
00:52:30,680 --> 00:52:35,520
Speaker 1: who loves many venture capitalists. It looks very bad when

901
00:52:35,520 --> 00:52:38,239
Speaker 1: you take a victory lap when you've had help from

902
00:52:38,239 --> 00:52:41,120
Speaker 1: the federal government, especially because a lot of you are

903
00:52:41,200 --> 00:52:44,080
Speaker 1: not big fans of the federal government. And for that

904
00:52:44,400 --> 00:52:47,319
Speaker 1: it is my moment of fuckery. I feel like all

905
00:52:47,360 --> 00:52:50,320
Speaker 1: these people thought they were John Gulf before the weekend

906
00:52:50,600 --> 00:52:54,560
Speaker 1: and then really have changed over to really loving that

907
00:52:55,360 --> 00:52:59,120
Speaker 1: government subsidy. I would say they and rant and found

908
00:52:59,120 --> 00:53:04,759
Speaker 1: out that's really good. That's it for this episode of

909
00:53:04,800 --> 00:53:08,600
Speaker 1: Fast Politics. Tune in every Monday, Wednesday and Friday to

910
00:53:08,640 --> 00:53:11,479
Speaker 1: your the best minds in politics makes sense of all

911
00:53:11,600 --> 00:53:15,120
Speaker 1: this chaos. If you enjoyed what you've heard, please send

912
00:53:15,120 --> 00:53:18,200
Speaker 1: it to a friend and keep the conversation going. And again,

913
00:53:18,440 --> 00:53:19,400
Speaker 1: thanks for listening.