1 00:00:00,440 --> 00:00:03,120 Speaker 1: Live from our nation's camera. This budget thing is going 2 00:00:03,160 --> 00:00:05,600 Speaker 1: to do nothing. Space forts. I still think it's interesting 3 00:00:05,640 --> 00:00:08,960 Speaker 1: President Trump not playing his cards yet headlines Policy and 4 00:00:09,119 --> 00:00:14,520 Speaker 1: Politics colliding, Sound on with Kevin's related, the insiders, the influencers, 5 00:00:14,640 --> 00:00:17,480 Speaker 1: the insides. I would rather see a congressional solution. It's 6 00:00:17,520 --> 00:00:20,400 Speaker 1: part of my DNA. The Senate map in looks a 7 00:00:20,480 --> 00:00:22,800 Speaker 1: lot different than it looked in. You really have a 8 00:00:22,800 --> 00:00:26,119 Speaker 1: divide within Team Trump. The president has to do exactly 9 00:00:26,160 --> 00:00:27,680 Speaker 1: what people send him here to do, which is to 10 00:00:27,720 --> 00:00:31,720 Speaker 1: get it done. He's sound on with Kevin's related on 11 00:00:31,800 --> 00:00:35,400 Speaker 1: Bloomberg one and one oh five point seven m h 12 00:00:35,520 --> 00:00:38,159 Speaker 1: D two Baltimore. Did you hear about these hearings on 13 00:00:38,240 --> 00:00:41,519 Speaker 1: Capitol Hill? Bob Mueller? Bob Mueller was on Capitol Hill 14 00:00:41,560 --> 00:00:46,760 Speaker 1: today testifying before the House of Representatives and really didn't 15 00:00:46,760 --> 00:00:49,400 Speaker 1: move the needle much. Will break down all of the 16 00:00:49,479 --> 00:00:54,040 Speaker 1: political implications. Did anything change in terms of the calculus 17 00:00:54,120 --> 00:00:56,920 Speaker 1: for Speaker of the House Nancy Pelosi. I literally just 18 00:00:56,960 --> 00:00:59,480 Speaker 1: got into the bureau. I was up at that hearing 19 00:00:59,680 --> 00:01:03,520 Speaker 1: all day. Speaker Pelosi calling a meeting at four o'clock 20 00:01:04,200 --> 00:01:07,360 Speaker 1: earlier this afternoon for members of her caucus a post 21 00:01:07,440 --> 00:01:10,000 Speaker 1: Muller meeting. What does it all mean? We're gonna bring 22 00:01:10,000 --> 00:01:13,200 Speaker 1: you my conversation with several of the key lawmakers in 23 00:01:13,240 --> 00:01:17,240 Speaker 1: the middle of it all, plus trade policy. Did any 24 00:01:17,280 --> 00:01:21,200 Speaker 1: of this fodder today impact the trade discussions that are happening. 25 00:01:21,920 --> 00:01:24,040 Speaker 1: I just heard this from a source up on Capitol Hill. 26 00:01:24,120 --> 00:01:26,600 Speaker 1: You're hearing it here first that Bob Lightheiser US trade 27 00:01:26,600 --> 00:01:29,800 Speaker 1: representative Bob Lightheiser is going to be meeting on Friday 28 00:01:29,920 --> 00:01:31,959 Speaker 1: with that working group on U S M c A 29 00:01:32,040 --> 00:01:34,600 Speaker 1: on Capitol Hill. So lots to get through today. All 30 00:01:34,680 --> 00:01:38,920 Speaker 1: Star Panel. Ryan Williams is back Republican strategists and executive 31 00:01:38,959 --> 00:01:43,880 Speaker 1: vice president at Targeted Victory. Joel Payne is back Democratic strategist, 32 00:01:43,920 --> 00:01:47,800 Speaker 1: former director of African American Media Outreach for Hillary Clinton's 33 00:01:47,800 --> 00:01:52,400 Speaker 1: presidential campaign. He also previously worked for Harry Reid. I 34 00:01:52,480 --> 00:01:56,200 Speaker 1: spent all day in the Rayburn Building, the Rayburn House Building, 35 00:01:56,640 --> 00:02:00,400 Speaker 1: along with virtually it felt like every other reporter in town. 36 00:02:00,480 --> 00:02:04,559 Speaker 1: Why Bob Mueller. It was Mueller time. Bob Mueller testifying 37 00:02:04,640 --> 00:02:08,080 Speaker 1: before two house panels, same room, by the way, two 38 00:02:08,120 --> 00:02:13,160 Speaker 1: house panels for about five hours of testimony, and quite honestly, folks, 39 00:02:13,320 --> 00:02:15,560 Speaker 1: if you're a Republican, I'm not sure this changed the 40 00:02:15,560 --> 00:02:17,600 Speaker 1: needle for you. Move the needle for you. And if 41 00:02:17,600 --> 00:02:19,360 Speaker 1: you're a Democrat, I'm not sure that this moved the 42 00:02:19,360 --> 00:02:22,200 Speaker 1: needle for you as well. And I spoke with staffers 43 00:02:22,240 --> 00:02:25,120 Speaker 1: all throughout the day on both sides of the aisle 44 00:02:25,520 --> 00:02:28,160 Speaker 1: who agreed with as much. So what does that mean 45 00:02:28,760 --> 00:02:32,360 Speaker 1: moving forward? We're going to hear from Congressman David Cellini, 46 00:02:32,800 --> 00:02:34,799 Speaker 1: a member of one of those committees, as well as 47 00:02:34,840 --> 00:02:38,519 Speaker 1: the the congressman, the Democratic congressman who's in the middle 48 00:02:38,639 --> 00:02:41,840 Speaker 1: of all of the big tech hearings as well. And 49 00:02:41,880 --> 00:02:45,119 Speaker 1: we're also going to hear from two political insiders with 50 00:02:45,160 --> 00:02:48,079 Speaker 1: me for the hour to help navigate through all of this. 51 00:02:48,240 --> 00:02:52,000 Speaker 1: Ryan Williams is a Republican strategist, previously having worked with Romney. 52 00:02:52,040 --> 00:02:55,080 Speaker 1: He is now the executive vice president at Targeted Victory. 53 00:02:55,520 --> 00:02:58,320 Speaker 1: Joel Payne is a Democratic strategist. He is the former 54 00:02:58,760 --> 00:03:03,360 Speaker 1: director of African Erkin Media Outreach for Hillary Clinton's presidential campaign, 55 00:03:03,680 --> 00:03:08,760 Speaker 1: and previously having served in the Senate leadership for Harry Reid. Joel, 56 00:03:08,800 --> 00:03:10,960 Speaker 1: I'll start with you because the question that I kept 57 00:03:11,000 --> 00:03:14,800 Speaker 1: asking to Democrats is the issue of impeachment, because you 58 00:03:14,840 --> 00:03:17,800 Speaker 1: know that that's what everybody wants to know, is whether 59 00:03:17,919 --> 00:03:22,040 Speaker 1: or not today's hearings put pressure on Speaker Pelosi to 60 00:03:22,160 --> 00:03:26,600 Speaker 1: continue down a path toward impeachment. Her caucus is certainly 61 00:03:26,600 --> 00:03:30,680 Speaker 1: going to believe that, uh, this was a greater case, 62 00:03:30,760 --> 00:03:33,520 Speaker 1: this was an enhanced case for impeachment. UM. I think, 63 00:03:33,880 --> 00:03:36,240 Speaker 1: broadly speaking, I don't. I think you're right, Kevin. I 64 00:03:36,240 --> 00:03:38,760 Speaker 1: don't think that the needle was moved much today for 65 00:03:38,840 --> 00:03:41,680 Speaker 1: both sides of you thought Donald Trumps a crook. You 66 00:03:41,760 --> 00:03:43,720 Speaker 1: left today thinking Donald Trump's a crook. If you thought 67 00:03:43,720 --> 00:03:46,160 Speaker 1: that the Democrats were cooking a case against him, you 68 00:03:46,240 --> 00:03:48,640 Speaker 1: ended the day thinking that. So. UM, there were a 69 00:03:48,680 --> 00:03:52,120 Speaker 1: lot of theatrics. UM. I think something that probably deserves 70 00:03:52,160 --> 00:03:55,520 Speaker 1: some attention is um the treatment of Bob Muller, which 71 00:03:55,680 --> 00:03:58,840 Speaker 1: um was troublesome to some UM and and how he 72 00:03:58,920 --> 00:04:02,040 Speaker 1: reacted to that question. But beyond all that, I don't 73 00:04:02,040 --> 00:04:05,520 Speaker 1: think the fundamentals of the case changed. We're gonna unpackage 74 00:04:05,560 --> 00:04:07,520 Speaker 1: some of what you said coming up later on in 75 00:04:07,560 --> 00:04:09,680 Speaker 1: the program. I mean that there were some key moments. 76 00:04:09,760 --> 00:04:12,280 Speaker 1: Let's take a listen to one of those key moments. 77 00:04:12,320 --> 00:04:14,760 Speaker 1: Bob Mueller ending his day on Capitol Hill with some 78 00:04:14,840 --> 00:04:18,719 Speaker 1: final questions from the House Intelligence Committee Chairman Adam Schiff, 79 00:04:18,839 --> 00:04:23,080 Speaker 1: the Democrat his panel focusing on President Trump's welcoming Russian 80 00:04:23,279 --> 00:04:27,719 Speaker 1: election interference. Take a listen to this exchange with Congressman Schiff. 81 00:04:28,080 --> 00:04:30,120 Speaker 1: If candidate Trump was saying, I have no dealings with 82 00:04:30,160 --> 00:04:33,200 Speaker 1: the Russians, but the Russians had a tape recording they 83 00:04:33,240 --> 00:04:36,719 Speaker 1: could expose that, could they not. Yes, that's the stuff 84 00:04:36,760 --> 00:04:40,120 Speaker 1: of counterintelligence nightmares, is it not? Well, it has to 85 00:04:40,120 --> 00:04:42,720 Speaker 1: do with counterintelligence and the need for a strong counter 86 00:04:42,760 --> 00:04:50,320 Speaker 1: intelligence uh entity. So, Ryan Williams, I mean those types 87 00:04:50,360 --> 00:04:53,680 Speaker 1: of moments, will they move the needle as they are 88 00:04:53,760 --> 00:04:58,159 Speaker 1: replayed by the Democrats over and over again into not 89 00:04:58,360 --> 00:05:00,880 Speaker 1: just the presidential cycle into each twenty but the down 90 00:05:00,880 --> 00:05:03,120 Speaker 1: ballot races as well. No, I don't think so. I 91 00:05:03,160 --> 00:05:05,920 Speaker 1: really why not? I think this the testimony today was 92 00:05:05,960 --> 00:05:08,640 Speaker 1: a win for the president. Um, this was Bob Muller 93 00:05:08,720 --> 00:05:11,400 Speaker 1: was just flat. I mean, he's a very well respected 94 00:05:11,440 --> 00:05:14,200 Speaker 1: a gentleman, he's got a very distinguished career, he's a 95 00:05:14,320 --> 00:05:17,400 Speaker 1: very honorable guy. But this was not compelling testimony. It 96 00:05:17,600 --> 00:05:20,040 Speaker 1: really fell short of I think the expectations many people 97 00:05:20,080 --> 00:05:23,040 Speaker 1: had in terms of it having an impact. Um, if 98 00:05:23,160 --> 00:05:25,800 Speaker 1: Impatient was going to move forward, there needed to be 99 00:05:25,839 --> 00:05:28,880 Speaker 1: some fireworks today. They needed to be some new revelations 100 00:05:28,880 --> 00:05:30,800 Speaker 1: from Bob Mueller. Bob Muller didn't really want to go 101 00:05:30,839 --> 00:05:33,839 Speaker 1: into anything he wanted. He's stuck within the the guidelines 102 00:05:33,880 --> 00:05:36,479 Speaker 1: that were provided by the Justice Department and really just 103 00:05:36,520 --> 00:05:40,279 Speaker 1: kind of said, read read the report, especially read read 104 00:05:40,360 --> 00:05:43,360 Speaker 1: the story. Don't write. I mean, even that clip he 105 00:05:43,480 --> 00:05:45,240 Speaker 1: just played that was boring. I mean, that was not 106 00:05:45,760 --> 00:05:48,480 Speaker 1: that's not I mean, but that's if Boballer was doing. 107 00:05:48,480 --> 00:05:50,200 Speaker 1: He was He's a professional. He wanted to go in 108 00:05:50,279 --> 00:05:52,640 Speaker 1: and do this in a way that was by the books. 109 00:05:52,680 --> 00:05:54,960 Speaker 1: But in this day and age of theatrics, especially with 110 00:05:55,000 --> 00:05:57,800 Speaker 1: this president. UM, I just think that the that the 111 00:05:57,960 --> 00:06:00,279 Speaker 1: entire day was was a big waste that I don't 112 00:06:00,279 --> 00:06:03,520 Speaker 1: think it moved anything forward for them. Mueller telegraphed this, 113 00:06:03,760 --> 00:06:07,640 Speaker 1: He said he didn't want to testify. UM, I think 114 00:06:07,680 --> 00:06:11,840 Speaker 1: that Democrats, I will say this, The morning testimony was troublesome. 115 00:06:12,040 --> 00:06:16,760 Speaker 1: The afternoon testimony for from from perspective of the afternoon 116 00:06:16,760 --> 00:06:20,320 Speaker 1: testimony for Democrats was a little bit more favorable because one, 117 00:06:20,320 --> 00:06:23,280 Speaker 1: I think Adam shifted a frankly a more forceful job 118 00:06:23,360 --> 00:06:26,719 Speaker 1: of directing the conversation and forcing things out of Mueller 119 00:06:26,800 --> 00:06:29,360 Speaker 1: that maybe Jerry Natler didn't do in the morning Um. 120 00:06:29,360 --> 00:06:32,599 Speaker 1: But also I think that Republicans frankly caught Mueller off 121 00:06:32,640 --> 00:06:35,480 Speaker 1: guard with how they were countering him in the morning session. 122 00:06:35,480 --> 00:06:37,800 Speaker 1: And UM, to be honest with you, it felt like 123 00:06:37,839 --> 00:06:40,159 Speaker 1: there was a strategy which I wouldn't agree with, but 124 00:06:40,240 --> 00:06:42,680 Speaker 1: it actually worked in terms of throwing Mueller off his 125 00:06:42,760 --> 00:06:45,840 Speaker 1: game and creating this illusion that not just that maybe 126 00:06:45,920 --> 00:06:48,400 Speaker 1: Mueller was not right on the points, but that I 127 00:06:48,440 --> 00:06:52,000 Speaker 1: think they created some concern about him in his direction 128 00:06:52,120 --> 00:06:56,279 Speaker 1: of the investigation. The Republicans the Republicans, because we have 129 00:06:56,720 --> 00:07:00,000 Speaker 1: we have we have this clip from from Devinnon. Yet 130 00:07:00,080 --> 00:07:03,920 Speaker 1: is a Republican from California. So your point, Joel Payne, 131 00:07:03,960 --> 00:07:07,599 Speaker 1: democratic strategist really going after Bob Mueller, take a listen 132 00:07:07,640 --> 00:07:10,680 Speaker 1: to Devin Unions. It's time for the curtain to close 133 00:07:10,800 --> 00:07:15,360 Speaker 1: on the Russia hoax. The conspiracy theory is dead. So 134 00:07:15,400 --> 00:07:18,400 Speaker 1: there's Devin Unas a Republican from California. Stephanie Grisham, White 135 00:07:18,400 --> 00:07:21,760 Speaker 1: House Press Secretary, issuing a statement after the first the 136 00:07:21,800 --> 00:07:24,640 Speaker 1: conclusion of the first hearing, and she said, quote, the 137 00:07:24,720 --> 00:07:28,480 Speaker 1: last three hours have been an epic embarrassment for the Democrats. 138 00:07:28,560 --> 00:07:31,120 Speaker 1: Expect more of the same in the second half. So 139 00:07:31,160 --> 00:07:35,280 Speaker 1: that was her halftime, her halftime snapshot. Uh. And J. Sugalow, 140 00:07:35,360 --> 00:07:38,880 Speaker 1: President's attorney. Uh. He released a statement saying, quote unquote, 141 00:07:38,880 --> 00:07:43,160 Speaker 1: case closed, and some others. You know, Bob Mueller, excuse me, 142 00:07:43,440 --> 00:07:48,000 Speaker 1: Bob Mueller, Ryan Williams, Republican strategist, ultimate insider of Washington. 143 00:07:48,640 --> 00:07:51,120 Speaker 1: Bob Muller isn't isn't is a creature of Washington. He 144 00:07:51,240 --> 00:07:54,080 Speaker 1: is the we forget this, the sixth director of the 145 00:07:54,160 --> 00:07:58,200 Speaker 1: FBI for more than a decade. He graduated from Princeton 146 00:07:58,280 --> 00:08:01,160 Speaker 1: and NYU. He served in the Vietnam War. He got 147 00:08:01,160 --> 00:08:04,840 Speaker 1: a purple heart. He's someone who has had Senate confirmed 148 00:08:04,880 --> 00:08:10,120 Speaker 1: positions by the w. Bush administration, Clinton and even Barack Obama. 149 00:08:10,160 --> 00:08:13,720 Speaker 1: So I mean, he was not He knew exactly what 150 00:08:13,840 --> 00:08:17,120 Speaker 1: he was walking into. Do you think that Bob Mueller 151 00:08:17,200 --> 00:08:21,200 Speaker 1: walked out of there and he is satisfied with what 152 00:08:21,320 --> 00:08:24,280 Speaker 1: he did? Well, I think Bob Muller didn't want to testify, 153 00:08:24,360 --> 00:08:26,320 Speaker 1: as you said, and I think he went in and 154 00:08:26,320 --> 00:08:28,080 Speaker 1: just wanted to get through it. Um, he did not 155 00:08:28,200 --> 00:08:29,760 Speaker 1: go into it. Didn't appear to me at least that 156 00:08:29,800 --> 00:08:32,080 Speaker 1: he went into this hearing kind of wanting to tell 157 00:08:32,120 --> 00:08:34,680 Speaker 1: the story of his report. He didn't. He didn't breathe 158 00:08:34,679 --> 00:08:36,720 Speaker 1: life into that report in anyway. He just went in, 159 00:08:37,400 --> 00:08:39,720 Speaker 1: gave yes or no answers to most of the questions, 160 00:08:39,960 --> 00:08:42,840 Speaker 1: deflected on much of it. So from his perspective, he 161 00:08:42,880 --> 00:08:44,839 Speaker 1: didn't want to go in and do anything kind of 162 00:08:45,080 --> 00:08:48,400 Speaker 1: outside the box. I think he didn't do that. Um, 163 00:08:48,600 --> 00:08:50,320 Speaker 1: he didn't do that at all. But in terms of 164 00:08:50,360 --> 00:08:53,839 Speaker 1: moving the narrative forward that there's you know, for for impeachment, 165 00:08:53,920 --> 00:08:56,839 Speaker 1: for anything else, it just it didn't do that. In fact, 166 00:08:56,880 --> 00:08:59,560 Speaker 1: I think it just popped whatever balloon there was left 167 00:08:59,559 --> 00:09:01,920 Speaker 1: of the MP twin balloon because it just wasn't an 168 00:09:01,960 --> 00:09:04,200 Speaker 1: impactful testimony in terms of moving So he didn't do 169 00:09:04,240 --> 00:09:06,120 Speaker 1: it with theatrics. But he did do a couple of things. 170 00:09:06,160 --> 00:09:09,040 Speaker 1: He established a fact that had he he said that 171 00:09:09,080 --> 00:09:12,480 Speaker 1: the president could be in jeopardy of legal Um, he 172 00:09:12,480 --> 00:09:14,439 Speaker 1: could be in legal jeopardy after his time in the 173 00:09:14,440 --> 00:09:16,800 Speaker 1: White House. He also said a number of other things 174 00:09:16,800 --> 00:09:19,760 Speaker 1: that affirmed what Democrats have been saying about what's in 175 00:09:19,840 --> 00:09:22,120 Speaker 1: the report. So again, he did not do that with 176 00:09:22,160 --> 00:09:25,480 Speaker 1: any flair, with any panash, but he did do that. 177 00:09:25,559 --> 00:09:27,520 Speaker 1: So it's up to Democrats now if they want to 178 00:09:27,559 --> 00:09:29,560 Speaker 1: spend this in their favor, they've got to do the 179 00:09:29,600 --> 00:09:32,600 Speaker 1: work after to help sell what Mueller said. Because Mueller 180 00:09:32,679 --> 00:09:35,079 Speaker 1: did not do it. Muller did not sell it. And 181 00:09:35,080 --> 00:09:36,480 Speaker 1: if you look at all the headlines out of the thing, 182 00:09:36,520 --> 00:09:39,800 Speaker 1: it's Muller was flat. Muller was listless that the headline 183 00:09:39,800 --> 00:09:42,040 Speaker 1: out of today was his performance, like I mean, you know, yeah, 184 00:09:42,080 --> 00:09:44,280 Speaker 1: it was very performative, which I think you know, look, 185 00:09:44,480 --> 00:09:47,600 Speaker 1: I mean I can respectfully, I I think you both 186 00:09:47,600 --> 00:09:49,959 Speaker 1: would would agree. What's lost in all of this is 187 00:09:50,000 --> 00:09:53,080 Speaker 1: whether or not the US democratic institutions with a lowercase 188 00:09:53,160 --> 00:09:56,240 Speaker 1: D are better protected as we head into the cycle 189 00:09:56,320 --> 00:09:59,439 Speaker 1: against He also pointed out Russia and he didn't know 190 00:09:59,480 --> 00:10:02,120 Speaker 1: he did. I really agree with that. He did, um, 191 00:10:02,160 --> 00:10:03,920 Speaker 1: and we're gonna get into that and the policy of 192 00:10:03,960 --> 00:10:06,160 Speaker 1: that because meanwhile, while all of this is going on, 193 00:10:06,200 --> 00:10:08,520 Speaker 1: Facebook is back in the news and I did talk 194 00:10:08,600 --> 00:10:11,840 Speaker 1: to Congressman Cicellini about that. I'll play that for you 195 00:10:11,960 --> 00:10:15,520 Speaker 1: coming up, President Trump headlines crossing the Bloomberg terminal. As 196 00:10:15,520 --> 00:10:17,600 Speaker 1: we speak, he's saying, quote, we had a very good 197 00:10:17,640 --> 00:10:20,160 Speaker 1: day today. He said, that's the reporters as he left 198 00:10:20,160 --> 00:10:22,360 Speaker 1: the White House for a fundraiser in West Virginia. So 199 00:10:22,400 --> 00:10:27,120 Speaker 1: he's feeling pretty good about how today went. Uh. Coming up, 200 00:10:27,160 --> 00:10:29,920 Speaker 1: we're also going to hear one key exchange, and that's 201 00:10:29,960 --> 00:10:33,360 Speaker 1: Congressman Ted lou the Democrat from California with Bob Mueller. 202 00:10:33,400 --> 00:10:35,360 Speaker 1: A lot of folks are talking about that panel stays 203 00:10:35,679 --> 00:10:39,200 Speaker 1: stick around with us. Ryan Williams is here, Republican Strategists, 204 00:10:39,440 --> 00:10:43,360 Speaker 1: Global Traveler, Joel Payne, Democratic Strategists. Download the Sound On 205 00:10:43,440 --> 00:10:46,320 Speaker 1: podcast on Apple iTunes, at Bloomberg dot com, or by 206 00:10:46,320 --> 00:10:48,520 Speaker 1: downloading the Bloomberg Business app. You can also check me 207 00:10:48,520 --> 00:10:51,640 Speaker 1: out on Radio dot com, I Heart Radio, and Spotify. 208 00:10:51,720 --> 00:10:55,520 Speaker 1: It's been a dizzying week or halfway through it. Keep 209 00:10:55,679 --> 00:10:58,160 Speaker 1: your chin up. I'm Kevin Sirelli. You're listening to Bloomberg. 210 00:11:02,640 --> 00:11:06,800 Speaker 1: You're listening to Sound On with Kevin Curreally on Bloomberg 211 00:11:08,040 --> 00:11:10,840 Speaker 1: and one oh five point seven f m h D two, Baltimore. 212 00:11:13,960 --> 00:11:17,439 Speaker 1: I'm Kevin Cereli, Chief Washington Correspondent, for Bloomberg Radio and 213 00:11:17,480 --> 00:11:22,160 Speaker 1: Bloomberg Television. And President Trump, well, he's feeling pretty good 214 00:11:22,520 --> 00:11:26,840 Speaker 1: about how Bob Mueller's testimony on Capitol Hill went today. 215 00:11:27,840 --> 00:11:29,920 Speaker 1: Let's take a listen to what President Trump had to 216 00:11:29,960 --> 00:11:33,200 Speaker 1: say about the we I'm hearing we don't have that 217 00:11:33,240 --> 00:11:36,280 Speaker 1: one yet, but President Trump or his bart before he 218 00:11:36,360 --> 00:11:39,480 Speaker 1: left for West Virginia, he said that, he said that 219 00:11:39,520 --> 00:11:42,480 Speaker 1: he was having a good day, and Congressman David Cecillini, 220 00:11:42,679 --> 00:11:46,160 Speaker 1: he disagreed. Congressman Cecillini, take a listen to my interview 221 00:11:46,160 --> 00:11:49,480 Speaker 1: with him just outside of the hearing room. Here's Congressman Ceillini. 222 00:11:50,000 --> 00:11:51,839 Speaker 1: What's you make of what Bob Muller said? Said I 223 00:11:52,440 --> 00:11:56,720 Speaker 1: I thought Mr Muller testified in what I expect is 224 00:11:56,720 --> 00:11:59,880 Speaker 1: sort of a prosecutes prosecutor. He gave testimony that pro 225 00:12:00,000 --> 00:12:02,240 Speaker 1: out of the American people with overwhelming evidence of the 226 00:12:02,280 --> 00:12:06,280 Speaker 1: criminality of this president in extraordinary detail. I think it 227 00:12:06,360 --> 00:12:09,280 Speaker 1: makes even more urgent the what I've been advocating for 228 00:12:09,400 --> 00:12:11,960 Speaker 1: is the formal beginning of an impeachment and career. We 229 00:12:12,000 --> 00:12:14,920 Speaker 1: have ten specific instances of the President of the United 230 00:12:14,920 --> 00:12:18,760 Speaker 1: States attempting to prevent this increw from going forward. Of 231 00:12:18,800 --> 00:12:22,840 Speaker 1: obstructing of and trying to prevent witnesses from testifying, of 232 00:12:22,880 --> 00:12:27,120 Speaker 1: trying to get Mr Muller fired, asking the Attorney General 233 00:12:27,120 --> 00:12:29,360 Speaker 1: of the United States to tell a special counsel to 234 00:12:29,600 --> 00:12:32,560 Speaker 1: focus on only on future elections, not the current one, 235 00:12:32,880 --> 00:12:37,079 Speaker 1: by using Corey Lewandowski. This is significant evidence of wrongdoing 236 00:12:37,400 --> 00:12:39,600 Speaker 1: that I think requires action by the Conress of the unit. 237 00:12:39,720 --> 00:12:42,239 Speaker 1: The last question, there's been so many developments on Facebook 238 00:12:42,320 --> 00:12:44,360 Speaker 1: and big tech companies over the last one or four hours. 239 00:12:44,440 --> 00:12:46,680 Speaker 1: Ychot to get an update and where where things stand 240 00:12:46,720 --> 00:12:49,120 Speaker 1: without Well, we're in the midst of our investigation. We 241 00:12:49,200 --> 00:12:52,240 Speaker 1: had another hearing last week. I'm continue to be very 242 00:12:52,280 --> 00:12:56,400 Speaker 1: concerned about these large digital platforms and the anti competitive 243 00:12:56,400 --> 00:13:01,400 Speaker 1: behavior and their impact on entrepreneur ships and startups and 244 00:13:01,440 --> 00:13:05,360 Speaker 1: making sure that innovation is possible and that we make 245 00:13:05,480 --> 00:13:09,880 Speaker 1: room for the next big Facebook or or Google or Amazon. 246 00:13:10,280 --> 00:13:12,840 Speaker 1: So I think there are very significant problems in this marketplace. 247 00:13:13,040 --> 00:13:15,760 Speaker 1: I've just issued a number of letters to get some 248 00:13:15,800 --> 00:13:19,640 Speaker 1: additional information from the last group of witnesses. But this 249 00:13:19,760 --> 00:13:22,840 Speaker 1: remains a very important concern, and we're in the middle 250 00:13:22,840 --> 00:13:25,079 Speaker 1: of the investigation, and I expect that it's going to 251 00:13:25,120 --> 00:13:29,000 Speaker 1: produce some good recommendations. That was Congressman David Ceelini, a 252 00:13:29,120 --> 00:13:31,719 Speaker 1: Democrat representing Rhode Island. He has also a course and 253 00:13:31,800 --> 00:13:35,119 Speaker 1: member of the Democratic House Leadership. He chairs the Democratic 254 00:13:35,160 --> 00:13:38,680 Speaker 1: Policy and Communications Committee, as well as his serves on 255 00:13:38,720 --> 00:13:43,439 Speaker 1: the Judiciary Committees and Foreign Affairs committees. And I asked 256 00:13:43,520 --> 00:13:47,520 Speaker 1: him about big tech because he is overseeing this investigation 257 00:13:47,679 --> 00:13:52,959 Speaker 1: into antitrust with regards to Facebook, Google, the fang stocks, 258 00:13:52,960 --> 00:13:55,240 Speaker 1: all the big tech company stroll pain with me for 259 00:13:55,320 --> 00:13:58,559 Speaker 1: the hour. Democratic strategist, former director of African American Media 260 00:13:58,600 --> 00:14:02,120 Speaker 1: Outreach for the Clinton campaign, Sane. And you've served also 261 00:14:02,240 --> 00:14:06,800 Speaker 1: in Senate leadership with Harry Reid. The Facebook news today, 262 00:14:06,920 --> 00:14:10,160 Speaker 1: especially with Facebook saying that they are being investigated by 263 00:14:10,160 --> 00:14:14,319 Speaker 1: the FTC for possible anti trust violations. I mean, this 264 00:14:14,400 --> 00:14:18,000 Speaker 1: isn't just Congressman Cicillini and Democrats trying to break up 265 00:14:18,040 --> 00:14:20,640 Speaker 1: big tech. This is the Trump White House also taking 266 00:14:20,680 --> 00:14:23,520 Speaker 1: a hard line approach on on these anti trust issues. 267 00:14:24,040 --> 00:14:26,560 Speaker 1: It is and and it's hard to disentangle this from Obviously, 268 00:14:26,640 --> 00:14:30,640 Speaker 1: there are some concerns about um Facebook editorial practices related 269 00:14:30,680 --> 00:14:34,320 Speaker 1: to intellectual diversity on Facebook. UM there are a lot 270 00:14:34,320 --> 00:14:36,640 Speaker 1: of things that are tied up here. UM. I think 271 00:14:36,680 --> 00:14:39,400 Speaker 1: what this shows is that everyone in Washington has kind 272 00:14:39,400 --> 00:14:43,080 Speaker 1: of taken attention to, um, the challenges regarding regulating someone 273 00:14:43,120 --> 00:14:45,960 Speaker 1: like Facebook. UM. What's also interesting to me about this 274 00:14:46,040 --> 00:14:47,400 Speaker 1: is I saw some of the reactions from some of 275 00:14:47,400 --> 00:14:50,760 Speaker 1: the twenties. Elizabeth Warren, for instance, UM, did not think 276 00:14:50,760 --> 00:14:52,720 Speaker 1: the fine was enough. This was a record five billion 277 00:14:52,720 --> 00:14:55,240 Speaker 1: dollar front. She didn't think it was enough. They lead there, 278 00:14:55,280 --> 00:14:58,920 Speaker 1: I mean, they got they announced, not to interrupt, but 279 00:14:58,960 --> 00:15:01,800 Speaker 1: just to get everyone up to speak. They announced Facebook 280 00:15:01,800 --> 00:15:05,120 Speaker 1: annaups that they had paid five billion dollars worth as 281 00:15:05,160 --> 00:15:08,800 Speaker 1: a settlement with the FTC to enter probe into the 282 00:15:08,840 --> 00:15:14,800 Speaker 1: company's privacy practices. Senator warr And saying, no, that's not enough. 283 00:15:14,800 --> 00:15:16,960 Speaker 1: And if you look at the impact that that Facebook 284 00:15:17,000 --> 00:15:19,000 Speaker 1: has had according to the war and wing of the 285 00:15:19,000 --> 00:15:21,920 Speaker 1: Democratic Party, that that it's worth more than that. And 286 00:15:21,960 --> 00:15:23,960 Speaker 1: she's saying it's not enough because they also announced that 287 00:15:24,000 --> 00:15:27,000 Speaker 1: they made almost seventeen billion in profits the second quarter 288 00:15:27,040 --> 00:15:30,160 Speaker 1: today as well. UM. So I think that you know, 289 00:15:30,240 --> 00:15:33,600 Speaker 1: this is this is going to be a struggle between 290 00:15:33,960 --> 00:15:36,280 Speaker 1: not just it's not along ideological lines, right, It's not 291 00:15:36,280 --> 00:15:39,720 Speaker 1: just the Democratic and republican thing. It's all about what 292 00:15:39,800 --> 00:15:41,880 Speaker 1: you think the role of government should be in regulating 293 00:15:41,920 --> 00:15:45,280 Speaker 1: these companies. This is very similar to what we had 294 00:15:45,320 --> 00:15:48,280 Speaker 1: with a T and T what twenty thirty years ago? 295 00:15:48,600 --> 00:15:51,480 Speaker 1: How do we regulate these types of large telecom companies, 296 00:15:51,520 --> 00:15:54,320 Speaker 1: which is what Facebook is. It was a social media app, 297 00:15:54,360 --> 00:15:58,080 Speaker 1: it's now it's a telecom company. It's fascinating when and 298 00:15:58,160 --> 00:16:00,760 Speaker 1: coming up, we'll talk more about trade Bobbler. We have 299 00:16:00,840 --> 00:16:03,880 Speaker 1: fresh reaction from President Trump on that. But it's fascinating 300 00:16:03,880 --> 00:16:06,760 Speaker 1: when we talk about Facebook in particular, and we talk 301 00:16:06,840 --> 00:16:11,800 Speaker 1: about how they're being targeted both with their digital currency 302 00:16:11,800 --> 00:16:16,360 Speaker 1: plans with Facebook Libra obviously the FTC and Democrats even 303 00:16:16,680 --> 00:16:20,440 Speaker 1: raising antitrust issues. But then we look at China and 304 00:16:20,520 --> 00:16:22,200 Speaker 1: we look at some of the apps that are being 305 00:16:22,280 --> 00:16:27,800 Speaker 1: utilized in China that are already doing digitized currency and 306 00:16:27,880 --> 00:16:31,920 Speaker 1: already sort of a home for a one app, one 307 00:16:31,920 --> 00:16:35,760 Speaker 1: all policy, and they're just trying, i mean, from Facebook's perspective, 308 00:16:35,800 --> 00:16:37,960 Speaker 1: they're just trying to stay competitive in the global marketplace. 309 00:16:38,000 --> 00:16:42,560 Speaker 1: So this is such a complex, complex issue, especially and 310 00:16:42,760 --> 00:16:46,080 Speaker 1: with the backdrops of these two great unknowns China and 311 00:16:46,200 --> 00:16:49,920 Speaker 1: five g uh here domestically for five g that we're 312 00:16:49,960 --> 00:16:51,960 Speaker 1: gonna be talking about this for a long long time 313 00:16:52,000 --> 00:16:55,360 Speaker 1: and we're just at stage one coming up, Panel Stays. 314 00:16:55,600 --> 00:16:57,720 Speaker 1: You can download the sound on podcast on Apple iTunes, 315 00:16:57,720 --> 00:17:00,560 Speaker 1: at Bloomberg dot com, or by downloading the Bloomberger This app. 316 00:17:00,640 --> 00:17:02,480 Speaker 1: You can also find me on Radio dot com, I 317 00:17:02,560 --> 00:17:05,720 Speaker 1: Heart Radio, and Spotify. I'm Kevin cur Really, Chief Washington 318 00:17:05,720 --> 00:17:09,400 Speaker 1: correspondent from Bloomberg Television and Bloomberg Radio. You're listening to Bloomberg. 319 00:17:13,840 --> 00:17:18,760 Speaker 1: This is sound on with Kevin's Really on Bloomberg one 320 00:17:18,920 --> 00:17:21,760 Speaker 1: and one oh five point seven f m h D two, Baltimore. 321 00:17:22,480 --> 00:17:25,240 Speaker 1: We had a very good day today the Republican Party, 322 00:17:26,640 --> 00:17:32,119 Speaker 1: our country. There was no defense of what Robert Mueller 323 00:17:32,280 --> 00:17:34,879 Speaker 1: was trying to defend, an all fairness to Robert Mueller. 324 00:17:36,560 --> 00:17:40,440 Speaker 1: Good day, President Trump. That was President Trump talking to 325 00:17:40,600 --> 00:17:44,880 Speaker 1: reporters before departing for a fundraiser in West Virginia later 326 00:17:44,960 --> 00:17:48,840 Speaker 1: this evening. President Trump's happy. I'm Kevin's really, chief Washington 327 00:17:48,840 --> 00:17:52,119 Speaker 1: correspondent from Bloomberg Television and Bloomberg Radio. Ryan Williams is here, 328 00:17:52,200 --> 00:17:55,520 Speaker 1: Republican strategist. Welcome back, Rye. It good to be here. 329 00:17:55,560 --> 00:18:00,480 Speaker 1: Where were you you were on some vacation. I was Iceland, Scotland, Nantucket. 330 00:18:01,320 --> 00:18:03,760 Speaker 1: Pretty good run there, you know, good for you, Good 331 00:18:03,800 --> 00:18:07,560 Speaker 1: for you. Some catching, some some R and R this summer. 332 00:18:07,640 --> 00:18:11,240 Speaker 1: Joel paints Here, democratic strategist, former director of the African 333 00:18:11,240 --> 00:18:14,840 Speaker 1: American Media Outreach for Clinton's campaign. He also worked with 334 00:18:14,880 --> 00:18:19,520 Speaker 1: that with Harry Read. All right, Joel, I was struck 335 00:18:19,560 --> 00:18:21,320 Speaker 1: by this. I was in the hallway. I mean, if 336 00:18:21,320 --> 00:18:23,440 Speaker 1: you saw these images outside of the Rainboard House building 337 00:18:23,480 --> 00:18:26,600 Speaker 1: when Bamba Look testified, it was like it was dizzying, 338 00:18:26,920 --> 00:18:29,480 Speaker 1: like dizzying in terms of how many people were there 339 00:18:29,480 --> 00:18:34,320 Speaker 1: in that small hallway. Protesters, photographers, that the staffers, the 340 00:18:34,359 --> 00:18:37,240 Speaker 1: interns are all. I mean, like people were camped out there. 341 00:18:37,720 --> 00:18:40,520 Speaker 1: I believe like they slept there in order to hold 342 00:18:40,560 --> 00:18:42,959 Speaker 1: spots and cameras getting into like one am. I mean 343 00:18:43,000 --> 00:18:46,120 Speaker 1: it was Mayhem in that one hallway. Not Mayhem. I'm 344 00:18:46,119 --> 00:18:48,639 Speaker 1: being a little bit dramatic, but you get the idea. 345 00:18:48,680 --> 00:18:53,480 Speaker 1: It was a total cluster um up there. But I 346 00:18:53,520 --> 00:18:56,800 Speaker 1: was struck by this because Congressman Jimmy Gomez, he is 347 00:18:56,840 --> 00:19:01,800 Speaker 1: a hardline progressive Democrat from California, serves on House Oversight 348 00:19:02,560 --> 00:19:04,920 Speaker 1: and he's on the Working Group for U s m 349 00:19:05,000 --> 00:19:07,120 Speaker 1: c A. And that's where I I really do want 350 00:19:07,119 --> 00:19:09,360 Speaker 1: to try. I'm not trying to conflate stories, but I'm 351 00:19:09,359 --> 00:19:12,400 Speaker 1: trying to just give folks the policy and the politics 352 00:19:12,440 --> 00:19:16,040 Speaker 1: of all of this, because Gomez has essentially called for impeachment, 353 00:19:16,840 --> 00:19:20,120 Speaker 1: but he's also I asked him, I'm like, okay, so 354 00:19:20,320 --> 00:19:21,919 Speaker 1: are you going to get U s m c A 355 00:19:22,000 --> 00:19:25,520 Speaker 1: done not to two point oh And in the next 356 00:19:25,640 --> 00:19:29,840 Speaker 1: breath he's like, no, I'm absolutely, very optimistic that in 357 00:19:29,880 --> 00:19:31,840 Speaker 1: the fall, now that we got the dead ceiling done, 358 00:19:31,880 --> 00:19:33,600 Speaker 1: that U s m c A gets passed. And it 359 00:19:33,640 --> 00:19:36,440 Speaker 1: would appear if I'm reading the tea leaves that there's 360 00:19:36,480 --> 00:19:39,960 Speaker 1: some consensus on this bipartisan working group on the U 361 00:19:39,960 --> 00:19:42,800 Speaker 1: s m c A, that Bob Blindheiser U S. Trader 362 00:19:42,840 --> 00:19:45,200 Speaker 1: presentative in the administration, he's going to Beijing next week, 363 00:19:45,520 --> 00:19:48,960 Speaker 1: that he's building consensus to get this thing done. Absolutely so, 364 00:19:49,200 --> 00:19:51,520 Speaker 1: like I think you you set it up really well 365 00:19:51,560 --> 00:19:54,320 Speaker 1: in terms of duality of what goes what goes on 366 00:19:55,200 --> 00:19:58,359 Speaker 1: Capitol Hill. Yeah, you have the constentiousness of the Muller 367 00:19:58,440 --> 00:20:01,560 Speaker 1: hearings today and all of of theatrics, and as a 368 00:20:01,600 --> 00:20:03,240 Speaker 1: former staff where I worked on the Hill for about 369 00:20:03,280 --> 00:20:05,480 Speaker 1: eight years. This is kind of the worst of Congress 370 00:20:05,480 --> 00:20:09,520 Speaker 1: being projected the world. I know, right, I know, seriously, 371 00:20:09,560 --> 00:20:11,959 Speaker 1: I should be probably tested. Um, so you've got you've 372 00:20:11,960 --> 00:20:14,320 Speaker 1: got kind of the worst of Congress on display. But listen, 373 00:20:14,359 --> 00:20:16,960 Speaker 1: they were approving I believe the the f A A 374 00:20:17,040 --> 00:20:19,919 Speaker 1: Commissioner um over in the Senate, and you mentioned the 375 00:20:20,000 --> 00:20:22,200 Speaker 1: U S m c A. You talked about the debt 376 00:20:22,240 --> 00:20:25,560 Speaker 1: ceiling deal that was reached early earlier this week that 377 00:20:26,040 --> 00:20:28,880 Speaker 1: frankly a lot of progressives didn't like because it kind 378 00:20:28,880 --> 00:20:30,720 Speaker 1: of signals a little bit of a victory for Trump. 379 00:20:30,800 --> 00:20:32,960 Speaker 1: But I think the point that we're both trying to 380 00:20:33,000 --> 00:20:35,680 Speaker 1: make here is that there's real legislating that's still being done, 381 00:20:35,880 --> 00:20:37,920 Speaker 1: and there's real work to be done. And I think 382 00:20:37,920 --> 00:20:40,520 Speaker 1: that's good. I'm an institutionalist at heart, and so I 383 00:20:40,560 --> 00:20:44,120 Speaker 1: like the idea that Congress, that Congress can still get things. 384 00:20:45,080 --> 00:20:47,800 Speaker 1: Being an institutionalist mean it means that I'm not somebody 385 00:20:47,840 --> 00:20:49,600 Speaker 1: to believes you need to blow everything up, that you 386 00:20:49,680 --> 00:20:51,679 Speaker 1: gotta you know, get rid of the filibuster, or do 387 00:20:51,720 --> 00:20:53,720 Speaker 1: this or do that, Like, there are ways to make 388 00:20:53,800 --> 00:20:57,119 Speaker 1: this work within the institution. There there's a process in place, 389 00:20:57,520 --> 00:20:59,960 Speaker 1: and we've been through ups and downs, and Democrats field 390 00:21:00,000 --> 00:21:01,960 Speaker 1: own right now. But guess what Republicans felt that way 391 00:21:02,560 --> 00:21:04,960 Speaker 1: paying on this show today. I trust the process. Sure, 392 00:21:04,960 --> 00:21:10,080 Speaker 1: I'll have a lot of angry tweets, thread breathe in 393 00:21:10,080 --> 00:21:14,560 Speaker 1: hale like rye. So business is getting done. But what 394 00:21:14,600 --> 00:21:16,880 Speaker 1: do you say to folks who are like, hey, hey, 395 00:21:16,920 --> 00:21:19,040 Speaker 1: wait a minute, business is getting done, But what the 396 00:21:19,040 --> 00:21:23,520 Speaker 1: heck is happening to like rhetorical respect in this country 397 00:21:23,680 --> 00:21:29,360 Speaker 1: on both sides, Well, um, not good. Uh. The political 398 00:21:29,400 --> 00:21:32,680 Speaker 1: discourse certainly has taken a downturn in the last ten 399 00:21:32,760 --> 00:21:36,160 Speaker 1: years and maybe accelerated in the last two or three. Um. 400 00:21:36,200 --> 00:21:37,920 Speaker 1: You know, it's good to see some things get done. 401 00:21:37,920 --> 00:21:42,040 Speaker 1: Like a true former Romney guy, I mean, look, there's 402 00:21:42,040 --> 00:21:44,399 Speaker 1: still there's still things getting done. They get done quietly. 403 00:21:44,400 --> 00:21:46,520 Speaker 1: They don't get the attention that's certainly the Muller hearing 404 00:21:46,520 --> 00:21:50,320 Speaker 1: gets um. And I think that's unfortunate that that some 405 00:21:50,600 --> 00:21:56,360 Speaker 1: actual dealmaking and bipartisan consenus and some items doesn't get 406 00:21:56,520 --> 00:21:58,880 Speaker 1: the media attention that should. There's just so much attention 407 00:21:58,880 --> 00:22:01,920 Speaker 1: on what Trump tweet was that day, what Bob Mueller said, 408 00:22:02,320 --> 00:22:06,000 Speaker 1: And I think it's sours um, you know, the public's 409 00:22:06,040 --> 00:22:09,440 Speaker 1: perception of Congress and of Washington because quite frankly, it's 410 00:22:09,440 --> 00:22:11,720 Speaker 1: more interesting to cover the nasty tweets and the back 411 00:22:11,760 --> 00:22:14,679 Speaker 1: and forth and I don't know the angry cables. I 412 00:22:14,680 --> 00:22:16,040 Speaker 1: don't think it is. And I don't think I'm being 413 00:22:16,080 --> 00:22:18,560 Speaker 1: idealistic either, because I don't think you two agree. I 414 00:22:18,600 --> 00:22:20,159 Speaker 1: think you would agree with me. I mean, I think 415 00:22:20,200 --> 00:22:23,560 Speaker 1: that there's a craving for for like a return to 416 00:22:23,680 --> 00:22:26,200 Speaker 1: Actually it depends on who you're talking about where the 417 00:22:26,280 --> 00:22:28,880 Speaker 1: craving is from. I mean, so like Ryan, I think 418 00:22:28,880 --> 00:22:30,840 Speaker 1: you said. I think Ryan set it up. Well here 419 00:22:30,840 --> 00:22:33,360 Speaker 1: you were talking about how, um, all of the things, 420 00:22:33,440 --> 00:22:35,000 Speaker 1: these things are happening, but they don't want to talk 421 00:22:35,040 --> 00:22:38,480 Speaker 1: about it. Yeah, because there's no incentive from either base 422 00:22:38,600 --> 00:22:42,840 Speaker 1: of the party. Right, if you're a hardcore right Republican, 423 00:22:43,040 --> 00:22:44,760 Speaker 1: there's no incentive to talk about how you're working with 424 00:22:44,800 --> 00:22:48,160 Speaker 1: Democrats to spend more money. And if you're a Democrat 425 00:22:48,240 --> 00:22:50,199 Speaker 1: a progressive, there's no one centive to talk about how 426 00:22:50,200 --> 00:22:51,760 Speaker 1: you're gonna allow the present to spend more money on 427 00:22:51,840 --> 00:22:55,320 Speaker 1: military right. Like there, the system is built in a 428 00:22:55,359 --> 00:22:58,160 Speaker 1: way where all the incentive about talking about the comedy 429 00:22:58,440 --> 00:23:00,359 Speaker 1: and the ways that you can work across the aisle. 430 00:23:00,760 --> 00:23:04,040 Speaker 1: That's not it's not set up to reward folks who 431 00:23:04,119 --> 00:23:05,680 Speaker 1: do that. You know what else doesn't get talked about 432 00:23:05,760 --> 00:23:08,480 Speaker 1: enough in this country. Soccer. I was at the Real 433 00:23:08,560 --> 00:23:10,960 Speaker 1: Madrid and Arsenal game last night. By the way, traffic 434 00:23:11,000 --> 00:23:14,159 Speaker 1: was a nightmare. A thought stadium FedEx field, but go 435 00:23:14,320 --> 00:23:17,840 Speaker 1: Real Madrid. Coming up more politics and policy. Gotta give 436 00:23:17,840 --> 00:23:19,760 Speaker 1: a shout out for the for that great game and 437 00:23:19,800 --> 00:23:22,760 Speaker 1: went in the penalty kicks. Download the sound On podcast 438 00:23:22,800 --> 00:23:24,760 Speaker 1: on Apple, it tunes, a Bloomberg dot Com, or by 439 00:23:24,760 --> 00:23:27,159 Speaker 1: downloading the Bloomberg Business app. You can also check us 440 00:23:27,160 --> 00:23:29,960 Speaker 1: out on Radio dot Com, I Heart Radio, and Spotify. 441 00:23:30,240 --> 00:23:33,960 Speaker 1: Kevin Cirelli, Congressman french Hill calls in next the Republican 442 00:23:34,040 --> 00:23:41,120 Speaker 1: reaction to Mueller. Time. You're listening to Bloomberg. You're listening 443 00:23:41,160 --> 00:23:45,919 Speaker 1: to Sound On with Kevin Curreally on Bloomberg one and 444 00:23:45,960 --> 00:23:48,560 Speaker 1: one oh five point seven m h D two, Baltimore. 445 00:23:49,000 --> 00:23:52,200 Speaker 1: I'm Kevin Cirelli, Chief Washington correspondent for Bloomberg Television and 446 00:23:52,240 --> 00:23:57,840 Speaker 1: Bloomberg Radio, Politics and Policy, Big Tech, and Bob Mueller 447 00:23:58,000 --> 00:24:00,960 Speaker 1: joining us on the telep own line a friend of 448 00:24:01,000 --> 00:24:05,440 Speaker 1: the show, Congressman Friendshill, a Republican from Arkansas, member of 449 00:24:05,480 --> 00:24:08,200 Speaker 1: the House Financial Services Committee. Congressman, I want to get 450 00:24:08,240 --> 00:24:11,440 Speaker 1: to the fintech hearing tomorrow that you're going to be 451 00:24:11,480 --> 00:24:13,520 Speaker 1: a part of. But before I do that, what is 452 00:24:13,520 --> 00:24:17,240 Speaker 1: your reaction to what Bob Mueller had to say earlier 453 00:24:17,280 --> 00:24:20,840 Speaker 1: today on Capitol Hill? Well, kay, I've been great to 454 00:24:20,840 --> 00:24:24,480 Speaker 1: be with you. I think Bob Mueller came to Capitol 455 00:24:24,560 --> 00:24:28,639 Speaker 1: Hill with great anticipation and great sharing and lines around 456 00:24:28,720 --> 00:24:33,640 Speaker 1: the corner at six am and laid the proverbial egg. Uh. 457 00:24:34,440 --> 00:24:37,359 Speaker 1: I don't I don't think he has. He mumbled through 458 00:24:37,560 --> 00:24:43,560 Speaker 1: his testimony that Democrats got anything that we didn't already 459 00:24:43,560 --> 00:24:48,800 Speaker 1: know from the report, and so I don't know why 460 00:24:48,840 --> 00:24:52,240 Speaker 1: this happened or why the majority here in the House 461 00:24:52,320 --> 00:24:54,600 Speaker 1: proposed to have him come. I thought it just left 462 00:24:54,640 --> 00:25:00,240 Speaker 1: people flat and and people at least that opt to 463 00:25:00,320 --> 00:25:02,760 Speaker 1: who were in the hearing didn't learn anything they didn't 464 00:25:02,800 --> 00:25:06,199 Speaker 1: already know from the Special councils twenty two months and 465 00:25:06,320 --> 00:25:09,720 Speaker 1: thirty million dollars worth of investigating. I didn't learn any 466 00:25:09,800 --> 00:25:11,800 Speaker 1: I mean, if you when you read the report, you 467 00:25:11,960 --> 00:25:13,520 Speaker 1: and you do the report. Look, there's a lot to 468 00:25:13,560 --> 00:25:17,919 Speaker 1: be concerned about in that report. And but yeah, but 469 00:25:17,960 --> 00:25:19,960 Speaker 1: I didn't learn any I didn't learn, to your point, 470 00:25:19,960 --> 00:25:23,640 Speaker 1: any new details from Bob Mueller. I mean, he's kept 471 00:25:23,680 --> 00:25:26,840 Speaker 1: referring to the report. Uh. And I guess what I 472 00:25:26,920 --> 00:25:28,320 Speaker 1: What I do want to say, though, is that what 473 00:25:28,320 --> 00:25:31,560 Speaker 1: what is what has emerged in the past half hour 474 00:25:31,640 --> 00:25:33,600 Speaker 1: or so on this program, is that as all of 475 00:25:33,640 --> 00:25:36,040 Speaker 1: this is going on, and I don't mean to be boring, 476 00:25:36,359 --> 00:25:39,679 Speaker 1: but the boring stuff is getting done and raising the 477 00:25:39,720 --> 00:25:42,560 Speaker 1: dead ceiling for two years. Uh. And then of course 478 00:25:42,640 --> 00:25:44,800 Speaker 1: the you know, you've got big tech and and folks 479 00:25:44,840 --> 00:25:48,840 Speaker 1: looking into big tech and fintech and and digital currency 480 00:25:48,880 --> 00:25:52,760 Speaker 1: and regulatory reform and all that. I do want to 481 00:25:52,800 --> 00:25:55,359 Speaker 1: ask you, though, one more follow up on Bob Mueller, 482 00:25:55,480 --> 00:25:59,680 Speaker 1: which is is there anything being done on the this 483 00:25:59,760 --> 00:26:01,840 Speaker 1: And this isn't boring because when I talked to folks 484 00:26:01,840 --> 00:26:04,960 Speaker 1: on both sides of the aisle the areas, there is 485 00:26:05,000 --> 00:26:07,120 Speaker 1: a part of this and I've got to tread carefully 486 00:26:07,280 --> 00:26:10,719 Speaker 1: where Republicans and Democrats do agree, which is on the 487 00:26:10,760 --> 00:26:16,639 Speaker 1: protecting of democratic institutions lower case D from a hostile 488 00:26:16,760 --> 00:26:21,160 Speaker 1: foreign power. I e. Russia from our elections. Is there 489 00:26:21,200 --> 00:26:24,280 Speaker 1: anything being done? Where's the hearing on that, where's the 490 00:26:24,320 --> 00:26:27,639 Speaker 1: five hour hearing on what lawmakers on both sides of 491 00:26:27,640 --> 00:26:32,320 Speaker 1: the Aisle are doing to protect voters whomever they want 492 00:26:32,359 --> 00:26:37,520 Speaker 1: to vote for from a repeat of interference. Well, look, 493 00:26:37,640 --> 00:26:39,960 Speaker 1: this is a great question, the question all the democraties 494 00:26:40,040 --> 00:26:43,840 Speaker 1: is of the world because Russia, long before digitization and 495 00:26:43,880 --> 00:26:49,280 Speaker 1: social media, attempted to interview, intervene and UH sway elections 496 00:26:49,320 --> 00:26:53,760 Speaker 1: in Europe and in the UH in America, long long 497 00:26:53,800 --> 00:26:59,320 Speaker 1: before digitization. They've interfered in central European elections recently, including 498 00:26:59,320 --> 00:27:02,720 Speaker 1: in monterday Row. So these are bad actors. I think 499 00:27:02,760 --> 00:27:05,159 Speaker 1: that's clearly a follow up to the hearing, which is 500 00:27:05,480 --> 00:27:08,480 Speaker 1: what do we do to and and give people confidence 501 00:27:08,480 --> 00:27:13,160 Speaker 1: in election security? Um, I know that there's the deter 502 00:27:13,359 --> 00:27:16,880 Speaker 1: Act which has been introduced. I hope the Democrats will 503 00:27:16,920 --> 00:27:19,840 Speaker 1: have a hearing on this allows UH agencies to be 504 00:27:19,880 --> 00:27:22,880 Speaker 1: able to deport individuals who seek to interfere in our 505 00:27:23,400 --> 00:27:27,320 Speaker 1: democratic process or prevent people from coming in the US. 506 00:27:27,359 --> 00:27:29,360 Speaker 1: And then John Radcliffe, who I think is a real 507 00:27:29,400 --> 00:27:33,200 Speaker 1: star on the Judiciary Committee, has an integrity of voting 508 00:27:33,240 --> 00:27:36,320 Speaker 1: systems Act to try to protect the integrity of our 509 00:27:36,400 --> 00:27:39,200 Speaker 1: election systems by making it a felony to hack or 510 00:27:39,240 --> 00:27:43,440 Speaker 1: attempt to hack into a state voting system. And then finally, 511 00:27:43,480 --> 00:27:46,720 Speaker 1: I know, we we appropriate it in the last Congress 512 00:27:46,760 --> 00:27:50,439 Speaker 1: over six hundred million dollars to upgrade voting equipment in 513 00:27:50,480 --> 00:27:53,240 Speaker 1: the States. But I'm very curious in this two year 514 00:27:53,320 --> 00:27:56,640 Speaker 1: spending bill what we've got in it that benefits state 515 00:27:56,680 --> 00:28:00,800 Speaker 1: election commissions, because I know in my accounty of Pulaski, 516 00:28:00,920 --> 00:28:03,479 Speaker 1: we could use some additional federal money to mix with 517 00:28:03,520 --> 00:28:07,800 Speaker 1: our local money to upgrade our voting technology. Congressman Friendshill, 518 00:28:07,840 --> 00:28:10,640 Speaker 1: Republican from Arkansas, member of the House Financial Services Committee, 519 00:28:10,720 --> 00:28:13,440 Speaker 1: joining us on the line, there's a fintech hearing tomorrow 520 00:28:14,600 --> 00:28:17,639 Speaker 1: brief us on this because everyone is is still reeling. 521 00:28:17,640 --> 00:28:20,000 Speaker 1: While that Mueller hearing was going on, we got news 522 00:28:20,440 --> 00:28:24,280 Speaker 1: that Facebook has settled five billion dollars with the FTC, 523 00:28:24,440 --> 00:28:27,879 Speaker 1: the Federal Trade Commission, for all of their and for 524 00:28:28,320 --> 00:28:31,320 Speaker 1: Facebook's issues for lack of a better word. So what's 525 00:28:31,320 --> 00:28:34,600 Speaker 1: gonna go on fintech tomorrow? Yeah, Well, I'm glad the 526 00:28:34,640 --> 00:28:38,520 Speaker 1: House Financial Task Force on PLAYO. Proud to be the 527 00:28:38,560 --> 00:28:42,200 Speaker 1: senior Republican on that Tomorrow we're gonna be talking about 528 00:28:42,280 --> 00:28:45,960 Speaker 1: alternative data used in underwriting and in credit scoring. This 529 00:28:46,080 --> 00:28:51,200 Speaker 1: is an issue of importance as fintech companies replaced the 530 00:28:51,280 --> 00:28:54,640 Speaker 1: old school model of underwriting people for a consumer or 531 00:28:54,640 --> 00:28:57,800 Speaker 1: a business loan, where we might take a FICO score, 532 00:28:57,960 --> 00:29:00,360 Speaker 1: we might combine it with three years of tax turns 533 00:29:00,400 --> 00:29:03,960 Speaker 1: and we do a paper underwriting. Now we're using big 534 00:29:04,080 --> 00:29:08,360 Speaker 1: data and we're using alternative data. So not tax returns, 535 00:29:09,080 --> 00:29:12,240 Speaker 1: not that psycho score, but we might be looking at 536 00:29:12,360 --> 00:29:16,400 Speaker 1: the employment status or the history of utility bills that 537 00:29:16,440 --> 00:29:19,480 Speaker 1: have been paid, UH and those kinds of things to 538 00:29:19,800 --> 00:29:25,400 Speaker 1: underwrite UH personal loans as well as business loans. And 539 00:29:25,440 --> 00:29:28,640 Speaker 1: the question before the committee Kevin, is this is good 540 00:29:28,800 --> 00:29:33,040 Speaker 1: because studies show that more people are eligible for credit 541 00:29:33,440 --> 00:29:36,680 Speaker 1: when you use alternative data. A lot of studies have 542 00:29:36,720 --> 00:29:40,880 Speaker 1: shown that, including people who are underbanked or in low 543 00:29:40,920 --> 00:29:45,040 Speaker 1: income or minority communities. So that's a good news story. 544 00:29:45,160 --> 00:29:47,520 Speaker 1: But people want to make sure that if you use 545 00:29:47,600 --> 00:29:50,360 Speaker 1: alternative data, that it's been done, can be done in 546 00:29:50,400 --> 00:29:55,440 Speaker 1: a fair way, and doesn't in any way skew um 547 00:29:55,560 --> 00:29:58,800 Speaker 1: the outcomes or run a foul of fair lending. Laws. 548 00:29:58,800 --> 00:30:03,640 Speaker 1: What is what is an example of alternative data? I 549 00:30:03,720 --> 00:30:06,680 Speaker 1: think a great thing that I worked on the last 550 00:30:06,720 --> 00:30:11,880 Speaker 1: Congress would be allowing someone's a record of paying their 551 00:30:12,000 --> 00:30:16,400 Speaker 1: utility bills on time as a way to show their 552 00:30:16,440 --> 00:30:20,440 Speaker 1: ability to keep a budget make timely payments if they 553 00:30:20,480 --> 00:30:25,920 Speaker 1: don't have any credit history. Is a classic example. Traditionally 554 00:30:25,960 --> 00:30:30,360 Speaker 1: banks use length of time and a job, or show 555 00:30:30,400 --> 00:30:33,880 Speaker 1: me your tax returns for three years, or show me 556 00:30:33,960 --> 00:30:37,400 Speaker 1: your FICO score, the fair score that the credit bureaus 557 00:30:37,480 --> 00:30:43,040 Speaker 1: put out. But alternative data might show UH something like 558 00:30:43,320 --> 00:30:46,880 Speaker 1: utility payments added. And when they did that in New York, 559 00:30:47,560 --> 00:30:51,560 Speaker 1: in a sample of New York City renters that was 560 00:30:51,600 --> 00:30:56,120 Speaker 1: a tenant survey, they found that sevent of those individuals 561 00:30:56,120 --> 00:31:00,840 Speaker 1: sampled had an increased credit score when they took utility 562 00:31:00,960 --> 00:31:04,880 Speaker 1: payments into account because they don't really have a deep 563 00:31:05,960 --> 00:31:11,320 Speaker 1: UH credit history that banks are used to looking at all. Right, 564 00:31:11,360 --> 00:31:15,640 Speaker 1: Congressman Friendshill, Republican from Arkansas, one of the UH members 565 00:31:15,680 --> 00:31:18,760 Speaker 1: on the committee, who who really like you can explain 566 00:31:18,840 --> 00:31:21,600 Speaker 1: these issues, whether or not folks agree or disagree, you have. 567 00:31:21,680 --> 00:31:24,480 Speaker 1: You have a knack for explaining these very complex issues. 568 00:31:24,480 --> 00:31:27,480 Speaker 1: Appreciate you coming on the program on a very very 569 00:31:27,480 --> 00:31:31,160 Speaker 1: busy day. That's Congressman Friendshill, Republican from Arkansas, still with me. 570 00:31:31,240 --> 00:31:35,160 Speaker 1: Ryan Williams, Republican strategist, Joel Payne, Democratic strategists. All right, 571 00:31:35,200 --> 00:31:37,400 Speaker 1: we've got like two minutes left. We got a little 572 00:31:37,400 --> 00:31:39,560 Speaker 1: bit more than that. But Joel, what's on your radar? 573 00:31:39,960 --> 00:31:41,880 Speaker 1: We talked about Mueller, we talked about big tech. What's 574 00:31:41,920 --> 00:31:43,800 Speaker 1: on your radar for the rest of the week, well, 575 00:31:43,840 --> 00:31:46,360 Speaker 1: for the rest of this week obviously. Nancy Pelosi, I think, 576 00:31:46,440 --> 00:31:48,960 Speaker 1: is actually about too in the next five minutes hold 577 00:31:48,960 --> 00:31:51,280 Speaker 1: a press conference. And I'm very curious to see how 578 00:31:51,320 --> 00:31:53,640 Speaker 1: she's gonna frame this. We know the struggle in that 579 00:31:53,720 --> 00:31:58,200 Speaker 1: caucus between the pro impeachment versus the trust the process folks, 580 00:31:58,200 --> 00:32:01,400 Speaker 1: and I'm very curious to here reports about what happened 581 00:32:01,400 --> 00:32:04,800 Speaker 1: in that caucus room today after today's proceedings, and how 582 00:32:04,800 --> 00:32:08,719 Speaker 1: Pelosi charts a path forward. Right, That's the same thing 583 00:32:08,760 --> 00:32:10,479 Speaker 1: I'm looking at as well, is how how does she 584 00:32:10,720 --> 00:32:12,880 Speaker 1: keep both sides of her caucus the kind of rational 585 00:32:12,880 --> 00:32:15,400 Speaker 1: ones to understand that that impeachment is not going to happen. 586 00:32:15,440 --> 00:32:18,600 Speaker 1: It's not worth doing. They should just focus on campaigning. 587 00:32:18,600 --> 00:32:21,680 Speaker 1: Against Trump versus the the other side that just clamors 588 00:32:21,680 --> 00:32:25,000 Speaker 1: for impeachment clambers for you know, going after Trump no 589 00:32:25,000 --> 00:32:28,240 Speaker 1: matter what the reality is. So she's got a balancing act. Um. 590 00:32:28,280 --> 00:32:31,040 Speaker 1: You know, I think their caucus was somewhat unified recently 591 00:32:31,040 --> 00:32:33,840 Speaker 1: with the attacks on Representative Omar. We'll see if that 592 00:32:33,960 --> 00:32:38,000 Speaker 1: unity um lasts now that the Mueller hearings have taken place. 593 00:32:38,480 --> 00:32:41,640 Speaker 1: It's going to I don't like. So, yeah, I draw 594 00:32:41,760 --> 00:32:43,640 Speaker 1: to you well, And I'm also curious to see what 595 00:32:44,400 --> 00:32:46,840 Speaker 1: hopefuls do, right because normally we're at the point in 596 00:32:46,840 --> 00:32:48,880 Speaker 1: the cycle where those hopefuls now start to become the 597 00:32:48,880 --> 00:32:52,880 Speaker 1: spokespersons of the party. That really that hasn't happened yet 598 00:32:52,920 --> 00:32:55,239 Speaker 1: because of that very reason, right, there's no there's no 599 00:32:55,320 --> 00:32:58,720 Speaker 1: presumptive front runner who can really kind of grab all 600 00:32:58,760 --> 00:33:02,200 Speaker 1: that attention. So, particularly with that debate coming up next week, 601 00:33:02,200 --> 00:33:04,440 Speaker 1: the series of debates coming up next week, does this 602 00:33:04,520 --> 00:33:07,479 Speaker 1: issue become front and center? And how do those new 603 00:33:07,520 --> 00:33:10,360 Speaker 1: spokespersons of the party who are vying for that that 604 00:33:10,480 --> 00:33:13,239 Speaker 1: right to to have that title, how do they handle this? 605 00:33:13,600 --> 00:33:17,120 Speaker 1: Are we gonna hear Kamala Harris, Elizabeth Warren, Joe Biden 606 00:33:17,280 --> 00:33:19,720 Speaker 1: really focus on this. Are they gonna stay hitting hard 607 00:33:19,760 --> 00:33:21,800 Speaker 1: on those you know, meat and potato issues that we 608 00:33:21,880 --> 00:33:24,960 Speaker 1: know register well with voters. Um, that'll be something interesting 609 00:33:24,960 --> 00:33:27,280 Speaker 1: to watch as well. Uh, what's all my rad art? 610 00:33:27,360 --> 00:33:31,760 Speaker 1: Foreign policy? Venezuela, Venezuela, Venezuela. The US, according to the 611 00:33:31,760 --> 00:33:35,600 Speaker 1: Miami Herald, willing to offer Medoro dictator Madoo guarantees that 612 00:33:35,640 --> 00:33:39,800 Speaker 1: will be left alone should he leave Venezuela. So it's 613 00:33:39,800 --> 00:33:43,760 Speaker 1: gonna get interesting down there. It's also interesting obviously with 614 00:33:43,840 --> 00:33:47,640 Speaker 1: North Korea and Iran. But there's a lot happening abroad 615 00:33:48,280 --> 00:33:51,320 Speaker 1: that is impacting politics, the markets, and of course our 616 00:33:51,320 --> 00:33:54,200 Speaker 1: brave and then women serving overseas. It's a marathon, not 617 00:33:54,280 --> 00:33:57,640 Speaker 1: a spread. Trust the process. Thank you to Joel Payne, 618 00:33:57,760 --> 00:34:00,920 Speaker 1: Ryan Williams. I'm Kevin Cirelli, Chief Washington correspondent for Bloomberg 619 00:34:00,920 --> 00:34:04,120 Speaker 1: Television and Bloomberg Radio. Download the sound on podcast on 620 00:34:04,160 --> 00:34:06,760 Speaker 1: Apple iTunes, at Bloomberg dot com, or by downloading the 621 00:34:06,760 --> 00:34:09,720 Speaker 1: Bloomberg Business app. You can also find me on Radio 622 00:34:09,800 --> 00:34:13,000 Speaker 1: dot com, I Heart Radio, and Spotify. Thanks for listening 623 00:34:13,040 --> 00:34:13,719 Speaker 1: to Bloomberg