1 00:00:00,040 --> 00:00:02,320 Speaker 1: Well, now it's time for our Bloomberg Law Report. It's 2 00:00:02,320 --> 00:00:07,000 Speaker 1: brought to you by American Arbitration Association, International Trader Business 3 00:00:07,040 --> 00:00:10,879 Speaker 1: Dispute Resolve Faster with the International Center for a Dispute Resolution, 4 00:00:10,920 --> 00:00:14,120 Speaker 1: the leader in alternative dispute resolution around the world. I 5 00:00:14,280 --> 00:00:17,480 Speaker 1: see DR dot org. Let's get to the legal stories 6 00:00:17,520 --> 00:00:20,640 Speaker 1: we're watching this morning with Steve Podusk in the Bloomberg 7 00:00:21,360 --> 00:00:26,400 Speaker 1: Washington Newsroom. More regulation may not be the best answer 8 00:00:26,480 --> 00:00:30,240 Speaker 1: to protecting the financial system against cyber attacks. Instead, Federal 9 00:00:30,240 --> 00:00:33,360 Speaker 1: Reserve officials say am more flexible approach will be tried. 10 00:00:33,720 --> 00:00:38,360 Speaker 1: The Agriculture Department is withdrawing proposed biotechnology regulations that were 11 00:00:38,400 --> 00:00:41,959 Speaker 1: issued under the Obama administration after critical public comments from 12 00:00:42,000 --> 00:00:44,960 Speaker 1: indistrict groups, and a person familiar with the matter says 13 00:00:45,000 --> 00:00:47,960 Speaker 1: Senate tax writers plan to keep the mortgage interest deduction 14 00:00:48,000 --> 00:00:51,480 Speaker 1: limit at one million dollars, unlike House legislation that sets 15 00:00:51,479 --> 00:00:54,240 Speaker 1: a calp of five hundred thousand dollars for new home sales. 16 00:00:54,440 --> 00:00:59,320 Speaker 1: Bloomberg Law everything you need, all on one legal research platform, 17 00:00:59,480 --> 00:01:04,120 Speaker 1: including guidance analysis and Bloomberg Market Intelligence. Find out more 18 00:01:04,160 --> 00:01:09,160 Speaker 1: at Bloomberg law dot com. Now in other legal news, 19 00:01:09,240 --> 00:01:11,760 Speaker 1: let's take a look at the latest developments in Special 20 00:01:11,800 --> 00:01:16,840 Speaker 1: Counsel Robert Mueller's investigation into Russian interference in the election, 21 00:01:17,200 --> 00:01:20,080 Speaker 1: which is now said to focus on former National Security 22 00:01:20,080 --> 00:01:23,760 Speaker 1: Advisor Michael Flynn. For more on this story, Bloomberg Law 23 00:01:23,800 --> 00:01:26,720 Speaker 1: host Michael Best spoke with Andrew Kent, a professor at 24 00:01:26,720 --> 00:01:31,320 Speaker 1: Fordham University Law School. Andrew, what do we know about 25 00:01:31,360 --> 00:01:34,720 Speaker 1: what the Special Council is looking at Michael Flynn and 26 00:01:34,760 --> 00:01:38,160 Speaker 1: his son? For Oh, we haven't had anything that I've 27 00:01:38,160 --> 00:01:41,200 Speaker 1: seen come directly from Mueller's office, but certainly based on 28 00:01:41,280 --> 00:01:44,160 Speaker 1: what's been reported in the press over the last six months, 29 00:01:44,160 --> 00:01:46,160 Speaker 1: I think we have a pretty good idea of what 30 00:01:46,280 --> 00:01:49,560 Speaker 1: it might be. Um. I think probably the most likely 31 00:01:49,600 --> 00:01:54,120 Speaker 1: thing would be a charge related to his acting as 32 00:01:54,800 --> 00:01:58,680 Speaker 1: UM an agent of the Turkish Turkish government without registering 33 00:01:58,680 --> 00:02:01,200 Speaker 1: with the Department of Justice, as he's required to by 34 00:02:01,480 --> 00:02:03,960 Speaker 1: federal law. If it's come out now that he has 35 00:02:04,080 --> 00:02:07,160 Speaker 1: enough evidence to bring charges against Flynn, it can't be that, 36 00:02:07,200 --> 00:02:09,919 Speaker 1: you know, this just suddenly happened. UM. One would think 37 00:02:09,960 --> 00:02:12,400 Speaker 1: he's known that for a while, so it would appears 38 00:02:12,520 --> 00:02:15,160 Speaker 1: he's making decisions about what order to charge people in 39 00:02:15,280 --> 00:02:17,760 Speaker 1: and for what. So we have these Manifort and Gates 40 00:02:17,760 --> 00:02:20,680 Speaker 1: indictments and now we're finding out about Flynn. What what 41 00:02:20,840 --> 00:02:23,120 Speaker 1: can you discern from all this about the way in 42 00:02:23,200 --> 00:02:28,000 Speaker 1: which he's trying to play a strategy out in this investigation. Well, 43 00:02:28,440 --> 00:02:33,560 Speaker 1: a number of people saw the distinction between the Manafort 44 00:02:33,639 --> 00:02:37,160 Speaker 1: charges and then what happened with Papadopoulos as trying to 45 00:02:37,160 --> 00:02:39,960 Speaker 1: send a message to people in Flynn's shoes. And so 46 00:02:40,480 --> 00:02:44,120 Speaker 1: Manafort had seemingly failed to cooperate with Mueller and he 47 00:02:44,200 --> 00:02:47,280 Speaker 1: really got slammed in terms of the number of charges filed, 48 00:02:47,360 --> 00:02:51,799 Speaker 1: and Mueller is seeking a lot of forfeiture from from Manafort, 49 00:02:52,120 --> 00:02:55,120 Speaker 1: Uh Engates as well. Papa Appas, on the other hand, 50 00:02:55,240 --> 00:02:58,640 Speaker 1: came off with, you know, just one charge and you know, 51 00:02:58,680 --> 00:03:01,920 Speaker 1: we don't know anything about sentence exposure, but probably could 52 00:03:02,000 --> 00:03:04,360 Speaker 1: end up with very little, if any jail time. Perhaps, 53 00:03:04,400 --> 00:03:06,520 Speaker 1: So a lot of people saw that as saying, you know, 54 00:03:06,639 --> 00:03:10,119 Speaker 1: get on the right side of this, cooperate with with 55 00:03:10,240 --> 00:03:14,480 Speaker 1: Mueller's probe, and we will treat you fairly. And certainly, 56 00:03:14,520 --> 00:03:17,400 Speaker 1: Michael flann is somebody who's been extremely close to Trump 57 00:03:17,919 --> 00:03:21,440 Speaker 1: going way back on the campaign and then obviously served 58 00:03:21,440 --> 00:03:24,480 Speaker 1: as his National security advisor seems like somebody who has 59 00:03:24,480 --> 00:03:27,480 Speaker 1: a large amount of information, and so he would probably 60 00:03:27,520 --> 00:03:29,519 Speaker 1: be precisely the type of person that Muller would be 61 00:03:29,520 --> 00:03:32,839 Speaker 1: sending those signals to. Um, you know, cooperate and and 62 00:03:32,880 --> 00:03:34,840 Speaker 1: you know, get some lesser charges or if not, we're 63 00:03:34,840 --> 00:03:37,080 Speaker 1: going to really throw the book at you. And that's 64 00:03:37,120 --> 00:03:40,360 Speaker 1: Andrew Kent, a professor at Fordham University Law School, speaking 65 00:03:40,400 --> 00:03:42,880 Speaker 1: with the Bloomberg's Michael Bass. You can listen to Bloomberg 66 00:03:42,920 --> 00:03:45,480 Speaker 1: Law weekdays at one pm Wall Street Time here on 67 00:03:45,560 --> 00:03:49,040 Speaker 1: Bloomberg Radio, and find more legal news at Bloomberg Law 68 00:03:49,120 --> 00:03:52,440 Speaker 1: dot com. Attorneys will find exceptional legal research and business 69 00:03:52,440 --> 00:03:55,960 Speaker 1: development tools there as well. Visit Bloomberg Law dot com 70 00:03:56,080 --> 00:03:57,520 Speaker 1: for more information.