1 00:00:00,040 --> 00:00:02,520 Speaker 1: App in looks a lot different than it looked in. 2 00:00:03,240 --> 00:00:06,080 Speaker 1: President Trump was sent here to smash conventional norms. In 3 00:00:06,080 --> 00:00:09,840 Speaker 1: a sense, Bernie Sanders has already washed. This is Bloomberg. 4 00:00:10,039 --> 00:00:17,680 Speaker 1: Sound on on BLOOMBERGHD two. They send him in the 5 00:00:17,760 --> 00:00:20,639 Speaker 1: navies to New York City. We'll get you the latest 6 00:00:20,800 --> 00:00:24,680 Speaker 1: on the New York City news, on the COVID nineteen plus, 7 00:00:24,880 --> 00:00:28,240 Speaker 1: rumors of a Phase four economic stimulus, this even as 8 00:00:28,280 --> 00:00:33,599 Speaker 1: before those paychecks are hitting bank accounts across the country 9 00:00:33,680 --> 00:00:41,040 Speaker 1: and President Trump extending extending the Easter restart date after 10 00:00:41,159 --> 00:00:45,639 Speaker 1: advice from Dr Fauci. We have an all star lineup 11 00:00:46,360 --> 00:00:50,080 Speaker 1: UH to guide us through another another really busy day. 12 00:00:50,440 --> 00:00:53,840 Speaker 1: We're gonna kick things off off with Congressman Trey Hollingsworth. 13 00:00:54,080 --> 00:00:56,400 Speaker 1: We're all dealing with this together. Did you see that 14 00:00:56,520 --> 00:01:00,640 Speaker 1: picture today, that picture of New York City Statue of 15 00:01:00,680 --> 00:01:03,880 Speaker 1: Liberty and then the Navy ship with the Red Cross 16 00:01:03,880 --> 00:01:06,160 Speaker 1: on it. I had goose bumps. I mean, just to 17 00:01:06,280 --> 00:01:10,520 Speaker 1: see that American patriotism. You know who I wish who 18 00:01:10,560 --> 00:01:13,560 Speaker 1: saw it was that Congressman Massey, which he I hope 19 00:01:13,560 --> 00:01:16,360 Speaker 1: he saw that picture after the stunt he pulled last 20 00:01:16,360 --> 00:01:18,679 Speaker 1: week joining me on the telephone line to kick things off. 21 00:01:19,040 --> 00:01:23,000 Speaker 1: Congressman Trey Hollingsworth, He's a Republican Congressman from the great 22 00:01:23,040 --> 00:01:25,560 Speaker 1: state of Indiana. Congressman, thank you so much for calling in. 23 00:01:25,800 --> 00:01:28,720 Speaker 1: How are things in your district as it relates to 24 00:01:28,760 --> 00:01:32,840 Speaker 1: COVID nineteen. Well, there's no if and or butts about 25 00:01:32,840 --> 00:01:34,840 Speaker 1: it is a challenging time. We've got a lot of 26 00:01:34,880 --> 00:01:37,280 Speaker 1: small businesses that are closed. We've got a lot of 27 00:01:37,280 --> 00:01:40,160 Speaker 1: employees that have lost their job. We've got a lot 28 00:01:40,160 --> 00:01:43,920 Speaker 1: of community members that feel like they're disconnected from their friends. 29 00:01:43,920 --> 00:01:47,120 Speaker 1: But I tell you what, we stand resolved with other 30 00:01:47,160 --> 00:01:50,440 Speaker 1: Americans to do our part to ensure that we're social distancing, 31 00:01:50,480 --> 00:01:53,480 Speaker 1: to do our part in reducing this transmission, but also 32 00:01:53,640 --> 00:01:55,560 Speaker 1: to do our part to make sure that we build 33 00:01:55,560 --> 00:01:57,760 Speaker 1: a better, brighter future for this country once these dark 34 00:01:57,840 --> 00:02:00,560 Speaker 1: days have passed. So Trey Hollingsworth on a lot. He's 35 00:02:00,600 --> 00:02:04,160 Speaker 1: a member of the House Financial Services Committee, uh and 36 00:02:04,160 --> 00:02:07,040 Speaker 1: and he's been serving in Congress since two thousand and seventeen. 37 00:02:07,320 --> 00:02:13,600 Speaker 1: Republican from Indiana, Congressman, you know, I'm curious about where 38 00:02:14,200 --> 00:02:17,560 Speaker 1: the oversight because one of your messages was making sure 39 00:02:17,600 --> 00:02:19,960 Speaker 1: that there's no corruption in Washington. I was one of 40 00:02:19,960 --> 00:02:22,560 Speaker 1: your big campaign things. You've introduced legislation on as much 41 00:02:22,600 --> 00:02:25,320 Speaker 1: and whatnot. I've been hearing a lot of chatter, and 42 00:02:25,360 --> 00:02:27,359 Speaker 1: I was working the phones today with folks on the 43 00:02:27,440 --> 00:02:30,959 Speaker 1: left and the right, and they're worried that the money 44 00:02:31,160 --> 00:02:34,720 Speaker 1: from that incredible economic stimulus bill that was passed last 45 00:02:34,720 --> 00:02:37,800 Speaker 1: week and signed into law last week by the President. 46 00:02:37,960 --> 00:02:40,440 Speaker 1: They're worried that there's not going to be oversight or worse, 47 00:02:40,560 --> 00:02:42,360 Speaker 1: that some people are gonna get it and it's gonna 48 00:02:42,400 --> 00:02:44,960 Speaker 1: be a who's who of who's who knows who in 49 00:02:45,040 --> 00:02:47,240 Speaker 1: order to get the cash. What are you guys doing 50 00:02:47,280 --> 00:02:51,399 Speaker 1: to make sure that that doesn't happen. That is exactly 51 00:02:51,440 --> 00:02:53,200 Speaker 1: what I continue to be concerned about it. I think 52 00:02:53,280 --> 00:02:57,600 Speaker 1: every American that works so hard to send their money 53 00:02:57,680 --> 00:03:02,120 Speaker 1: to Washington should be concerned about this two trillion dollars. 54 00:03:02,120 --> 00:03:04,920 Speaker 1: And just to put that in perspective, right, one trillion 55 00:03:05,000 --> 00:03:09,080 Speaker 1: seconds is thirty thousand years, So we're talking about an 56 00:03:09,200 --> 00:03:13,160 Speaker 1: unbelievable sum of money. We have got to ensure. We 57 00:03:13,280 --> 00:03:17,160 Speaker 1: owe it to the American people to ensure that every 58 00:03:17,240 --> 00:03:20,120 Speaker 1: dollar that has spent as efficiently in solving the problems 59 00:03:20,160 --> 00:03:24,560 Speaker 1: of this crisis, and as effectively as possible. That's what 60 00:03:24,639 --> 00:03:27,120 Speaker 1: we owe the American people. We have fallen short of 61 00:03:27,160 --> 00:03:29,560 Speaker 1: that on so many occasions before we saw it eleven 62 00:03:29,639 --> 00:03:33,160 Speaker 1: years ago with a previous stimulus, just how disastrous much 63 00:03:33,200 --> 00:03:35,400 Speaker 1: of that money was spent. We've got to do a 64 00:03:35,400 --> 00:03:37,360 Speaker 1: better job now. We've got to do a better job. 65 00:03:37,440 --> 00:03:41,400 Speaker 1: One because taxpayers deserve that they work hard for this money. 66 00:03:41,680 --> 00:03:44,440 Speaker 1: And then number two because in order to solve the 67 00:03:44,480 --> 00:03:47,040 Speaker 1: economic crisis that is at our front, we have to 68 00:03:47,040 --> 00:03:50,120 Speaker 1: make sure that every single dollar of this is effectively 69 00:03:50,200 --> 00:03:54,960 Speaker 1: deployed to help small businesses, to help employers, to help employees, 70 00:03:55,000 --> 00:03:58,040 Speaker 1: to help rebuild demand in the economy. That's what we 71 00:03:58,080 --> 00:03:59,640 Speaker 1: need to make sure that we're doing. So how do 72 00:03:59,680 --> 00:04:01,720 Speaker 1: you do that? Because I mean, you're you're a small 73 00:04:01,760 --> 00:04:05,240 Speaker 1: business guy. You've had success in the private sector, Congressman, 74 00:04:05,280 --> 00:04:07,200 Speaker 1: So how do you I mean to give us a 75 00:04:07,240 --> 00:04:09,720 Speaker 1: window into your day to day life? Now. I was 76 00:04:09,760 --> 00:04:12,880 Speaker 1: speaking with the Democrats who said uh to Senior Stafford 77 00:04:12,920 --> 00:04:15,640 Speaker 1: to a Democratic member earlier today, and they said their 78 00:04:15,840 --> 00:04:19,240 Speaker 1: entire day is working with the state's department to make 79 00:04:19,279 --> 00:04:22,160 Speaker 1: sure that the dozen or so folks in their district 80 00:04:22,560 --> 00:04:25,359 Speaker 1: who are still stranded around the world, are are getting 81 00:04:25,400 --> 00:04:27,839 Speaker 1: access to their embassies and whatnot to be able to 82 00:04:27,839 --> 00:04:30,080 Speaker 1: come back to the United States. What is a day 83 00:04:30,160 --> 00:04:33,000 Speaker 1: like now? What was your daylight today in terms of 84 00:04:33,000 --> 00:04:35,239 Speaker 1: what you had to navigate through? Give us a window 85 00:04:35,240 --> 00:04:38,960 Speaker 1: into it. Well. Number one, first and foremost, what I 86 00:04:38,960 --> 00:04:40,839 Speaker 1: need to make sure I'm doing is working on every 87 00:04:40,880 --> 00:04:44,160 Speaker 1: issue that comes up in district. I run around Indiana, 88 00:04:44,240 --> 00:04:47,920 Speaker 1: I call around Indiana. I make sure that I'm asking everybody, 89 00:04:47,960 --> 00:04:49,800 Speaker 1: what do you need right now? How can I help 90 00:04:49,880 --> 00:04:52,080 Speaker 1: you through this? How can I help you overcome the 91 00:04:52,160 --> 00:04:56,560 Speaker 1: challenges your business, your nonprofit is facing today. And I've 92 00:04:56,600 --> 00:04:58,599 Speaker 1: heard a lot of that, And I've been making close 93 00:04:58,680 --> 00:05:01,680 Speaker 1: the federal government all sorts bureaucracies and agencies to make 94 00:05:01,720 --> 00:05:04,600 Speaker 1: sure we've got the tools and resources necessary. Like you said, 95 00:05:04,760 --> 00:05:07,400 Speaker 1: some of that is getting Hoosier back home from abroad 96 00:05:07,480 --> 00:05:10,000 Speaker 1: that right now are stuck abroad. Some of that is 97 00:05:10,040 --> 00:05:12,360 Speaker 1: making sure that we've got appropriate p, P and E 98 00:05:12,880 --> 00:05:15,640 Speaker 1: for our first responders right herendistrict. Some of that is 99 00:05:15,720 --> 00:05:19,479 Speaker 1: reassuring Hoosiers as I talked to retailers across the country 100 00:05:19,720 --> 00:05:23,360 Speaker 1: that supply chains remain robuts they don't need to horrid food. 101 00:05:23,640 --> 00:05:25,360 Speaker 1: That we have plenty of food and we will get 102 00:05:25,360 --> 00:05:27,760 Speaker 1: it to store shelves. And then some of that is 103 00:05:27,839 --> 00:05:32,600 Speaker 1: just talking to individuals, just calling kids across the district 104 00:05:32,600 --> 00:05:34,080 Speaker 1: to let them know that we're going to get through this, 105 00:05:34,200 --> 00:05:37,360 Speaker 1: Calling parents, letting them know to help their kids through 106 00:05:37,400 --> 00:05:40,840 Speaker 1: this difficult time and help them understand that America has 107 00:05:40,880 --> 00:05:43,840 Speaker 1: faced many challenges for the last two or fourty years. 108 00:05:43,839 --> 00:05:45,920 Speaker 1: Not a day that's gone by that hasn't challenged us. 109 00:05:46,080 --> 00:05:48,279 Speaker 1: And we have risen to every challenge before and we 110 00:05:48,320 --> 00:05:50,920 Speaker 1: will rise to this one as well. Can I ask 111 00:05:50,920 --> 00:05:52,640 Speaker 1: you just a point playing question. I mean, you're a 112 00:05:52,720 --> 00:05:55,800 Speaker 1: member of the House Financial Services Committee, and I'm not 113 00:05:55,839 --> 00:05:58,880 Speaker 1: I'm not I'm asked just the Democrats and Republicans, But Congressman, 114 00:05:59,400 --> 00:06:01,760 Speaker 1: did any of you know this was coming? I mean, 115 00:06:01,800 --> 00:06:04,680 Speaker 1: this blindsided all of us. I mean I was just 116 00:06:04,720 --> 00:06:06,120 Speaker 1: saying that that I went on, you know, one of 117 00:06:06,120 --> 00:06:08,320 Speaker 1: the many walks that were allowed to take these days, 118 00:06:08,520 --> 00:06:10,320 Speaker 1: on my walk today and I'm prepping for the show, 119 00:06:10,360 --> 00:06:12,640 Speaker 1: and I'm thinking, if you would have told me two 120 00:06:12,680 --> 00:06:15,560 Speaker 1: months ago that this would be life in America. We 121 00:06:15,560 --> 00:06:18,440 Speaker 1: were covering the coronavirus is a Wuhan story. We were 122 00:06:18,520 --> 00:06:22,800 Speaker 1: covering it as a China trade story. But never ever 123 00:06:23,040 --> 00:06:27,320 Speaker 1: did I think that what would happen there would be 124 00:06:27,360 --> 00:06:31,440 Speaker 1: possible here. And I'm wondering if in your work in Congress, 125 00:06:31,839 --> 00:06:36,040 Speaker 1: was anyone prepared for this. The short answer is no. 126 00:06:36,520 --> 00:06:38,960 Speaker 1: I mean, we've seen the report for JOHNS Hopkinson, the 127 00:06:39,000 --> 00:06:40,839 Speaker 1: report a few years ago to say America is better 128 00:06:40,880 --> 00:06:44,520 Speaker 1: prepared than any other country for a pandemic. But I 129 00:06:44,560 --> 00:06:46,960 Speaker 1: remember the housing in days and what I was talking 130 00:06:47,000 --> 00:06:48,960 Speaker 1: about just four weeks ago, when I was going around 131 00:06:48,960 --> 00:06:51,000 Speaker 1: to small businesses across the district and they were saying, 132 00:06:51,080 --> 00:06:53,040 Speaker 1: my number one issue is I've got too many customers 133 00:06:53,080 --> 00:06:55,800 Speaker 1: and too few employees, or they would say, my number 134 00:06:55,880 --> 00:06:58,120 Speaker 1: one issue is I want to grow more locations, but 135 00:06:58,160 --> 00:07:01,479 Speaker 1: the regulatory red tape behind being all those those new 136 00:07:01,520 --> 00:07:04,520 Speaker 1: locations is just too difficult and owner us. Now I'm 137 00:07:04,560 --> 00:07:08,560 Speaker 1: hearing a lot more challenges that are deeper and bigger 138 00:07:08,600 --> 00:07:11,000 Speaker 1: and threaten the very survival of those small businesses. So 139 00:07:11,440 --> 00:07:13,240 Speaker 1: I had no idea this was coming down the pike. 140 00:07:13,400 --> 00:07:16,000 Speaker 1: I had no idea that this is how hard we 141 00:07:16,040 --> 00:07:18,760 Speaker 1: would be hit by something that seemed like a China story, 142 00:07:18,800 --> 00:07:20,480 Speaker 1: like you said, just a month and a half ago. 143 00:07:20,600 --> 00:07:23,440 Speaker 1: But I also know the results that I hear in 144 00:07:23,480 --> 00:07:26,080 Speaker 1: Hoosier's voices every single day when I'm talking to them. 145 00:07:26,320 --> 00:07:29,200 Speaker 1: They know we're gonna get through this. They're gonna get 146 00:07:29,200 --> 00:07:31,240 Speaker 1: through this, and we are going to find a way 147 00:07:31,240 --> 00:07:32,840 Speaker 1: to beat this virus. You know, I like what you 148 00:07:32,840 --> 00:07:35,800 Speaker 1: said about not hoarding food, and I was guilty of that. 149 00:07:35,880 --> 00:07:37,800 Speaker 1: A couple of weeks ago. I got all that I 150 00:07:37,880 --> 00:07:40,240 Speaker 1: didn't own one can good so I you know, I 151 00:07:40,280 --> 00:07:41,600 Speaker 1: went out and I got all the can goods. And 152 00:07:41,640 --> 00:07:43,760 Speaker 1: now I'm backing off because we've got to make sure 153 00:07:44,200 --> 00:07:47,160 Speaker 1: that there's enough food for the people who really truly needed. 154 00:07:47,240 --> 00:07:50,880 Speaker 1: And so all of this is just thrown into your face. Okay, 155 00:07:51,000 --> 00:07:53,240 Speaker 1: I gotta ask you a wonky question. Now head into 156 00:07:53,280 --> 00:07:56,760 Speaker 1: heading into the financial services. You know, Chairwoman Maxine Waters, 157 00:07:57,040 --> 00:08:00,880 Speaker 1: there's a lot of talk, Congressman about uh A Phase 158 00:08:00,960 --> 00:08:04,080 Speaker 1: four of the economic stimulus. We address what you're doing 159 00:08:04,240 --> 00:08:07,560 Speaker 1: for oversight and to make sure that folks can get 160 00:08:07,600 --> 00:08:09,680 Speaker 1: access to grants and loans. But as you put this 161 00:08:09,720 --> 00:08:12,640 Speaker 1: in the pipeline for for phase four, have the what 162 00:08:12,720 --> 00:08:14,520 Speaker 1: are some of your ideas what is some What do 163 00:08:14,560 --> 00:08:17,560 Speaker 1: you think it is going to be needed for Phase four? Uh? 164 00:08:17,560 --> 00:08:21,320 Speaker 1: And what's the timetable two months from now? Folk? I 165 00:08:21,400 --> 00:08:24,000 Speaker 1: think here's the big question we've got to ask ourselves 166 00:08:24,040 --> 00:08:26,880 Speaker 1: before we start talking about Phase four, is is Phase 167 00:08:26,960 --> 00:08:29,440 Speaker 1: three working? What is working and what isn't working. We 168 00:08:29,480 --> 00:08:32,400 Speaker 1: can't just continue to shovel money out the doors Washington, 169 00:08:32,520 --> 00:08:35,920 Speaker 1: d C. And expect that money will solve all problems. 170 00:08:36,120 --> 00:08:39,760 Speaker 1: If we don't listen to what the right problems are, 171 00:08:40,080 --> 00:08:43,080 Speaker 1: how to best solve those problems, and then genuinely try 172 00:08:43,080 --> 00:08:46,160 Speaker 1: to approach that with a more laser like focus, then 173 00:08:46,160 --> 00:08:48,720 Speaker 1: we're just gonna be wasting taxpayer dollars. And I can't 174 00:08:48,760 --> 00:08:52,080 Speaker 1: abide by that. We cannot continue to ask taxpayers to 175 00:08:52,160 --> 00:08:55,400 Speaker 1: remit three point a trillion dollars for the Treasury every 176 00:08:55,440 --> 00:09:00,120 Speaker 1: year and then we aren't absolute zealous about making or 177 00:09:00,120 --> 00:09:02,520 Speaker 1: we're efficiently and effectively spending that money. And this is 178 00:09:02,520 --> 00:09:04,360 Speaker 1: why I continue to harp on this with my colleagues. 179 00:09:04,360 --> 00:09:06,600 Speaker 1: They don't understand because they don't have a business experience 180 00:09:06,800 --> 00:09:08,880 Speaker 1: that you've got to focus on the real problems, and 181 00:09:08,920 --> 00:09:10,200 Speaker 1: the only way to do that is to listen to 182 00:09:10,200 --> 00:09:12,920 Speaker 1: your customer and US in Congress. Our customers are the 183 00:09:12,920 --> 00:09:15,040 Speaker 1: American people. We need to listen to them about what 184 00:09:15,080 --> 00:09:17,360 Speaker 1: their needs are and whether Phase three has worked or 185 00:09:17,480 --> 00:09:19,520 Speaker 1: not worked before we start talking about Phase four.