1 00:00:00,880 --> 00:00:04,400 Speaker 1: You're listening to the Bloomberg Sound On podcast. Catch us 2 00:00:04,400 --> 00:00:07,560 Speaker 1: live weekdays at one Eastern on Bloomberg dot com, the 3 00:00:07,640 --> 00:00:10,280 Speaker 1: iHeartRadio app, and the Bloomberg Business App. 4 00:00:10,240 --> 00:00:12,760 Speaker 2: Or listen on demand wherever you get your podcast. 5 00:00:13,560 --> 00:00:16,239 Speaker 3: Now, Welcome to the Monday edition of Bloomberg Sound On. 6 00:00:16,280 --> 00:00:18,440 Speaker 3: I'm Joe Matthew in Washington. Hope you had a good 7 00:00:18,440 --> 00:00:21,160 Speaker 3: weekend as we pick up here essentially where we left 8 00:00:21,200 --> 00:00:24,440 Speaker 3: off last week with an historic strike being staged now 9 00:00:24,440 --> 00:00:26,880 Speaker 3: by the United Auto Workers. As we've been saying all 10 00:00:26,880 --> 00:00:29,480 Speaker 3: three of the Big Three, and the language that we're hearing, 11 00:00:29,480 --> 00:00:32,360 Speaker 3: the latest that we're hearing is not terribly encouraging about 12 00:00:32,400 --> 00:00:34,760 Speaker 3: a path forward. Seth Harris is going to be with 13 00:00:34,840 --> 00:00:38,200 Speaker 3: us in just a moment and has been prescient about 14 00:00:38,200 --> 00:00:41,120 Speaker 3: this whole situation so far. As now, the UA doubled 15 00:00:41,240 --> 00:00:45,000 Speaker 3: President Sean Fain says no go to the latest offer 16 00:00:45,080 --> 00:00:45,880 Speaker 3: from Stilantis. 17 00:00:45,920 --> 00:00:47,920 Speaker 2: They did have talks with all three over the weekends. 18 00:00:47,960 --> 00:00:51,000 Speaker 3: The Landist offering at twenty one percent pay raise, It's 19 00:00:51,040 --> 00:00:54,120 Speaker 3: definitely a no go, he said on Face the Nation 20 00:00:54,360 --> 00:00:58,040 Speaker 3: yesterday on CBS. Here's what else he said about what 21 00:00:58,080 --> 00:00:58,959 Speaker 3: they're prepared to do. 22 00:00:59,520 --> 00:01:01,520 Speaker 4: We're prepared to do whatever we have to do. So 23 00:01:01,560 --> 00:01:04,160 Speaker 4: the membership is ready. The membership is fed up. We're 24 00:01:04,160 --> 00:01:08,280 Speaker 4: fed up with falling behind. It's been decades of falling behind, 25 00:01:09,040 --> 00:01:14,280 Speaker 4: and especially this past decade in the most wealthiest times 26 00:01:14,280 --> 00:01:16,400 Speaker 4: in the history of these companies. There is no excuse. 27 00:01:16,480 --> 00:01:19,399 Speaker 4: These companies have made a quarter of a trillion dollars 28 00:01:19,959 --> 00:01:23,039 Speaker 4: in the last ten years, twenty one billion dollars in 29 00:01:23,080 --> 00:01:26,000 Speaker 4: the last six months alone, and our workers' wages and 30 00:01:26,480 --> 00:01:27,839 Speaker 4: conditions have went backwards. 31 00:01:29,360 --> 00:01:32,479 Speaker 3: So questions now about to what extent this strike might 32 00:01:32,520 --> 00:01:36,000 Speaker 3: be expanded in the days ahead, even as talks continue, 33 00:01:36,000 --> 00:01:39,160 Speaker 3: and we're starting to see the ancillary impact with you 34 00:01:39,400 --> 00:01:42,320 Speaker 3: threatened layoffs. For instance at GM at one plant that's 35 00:01:42,360 --> 00:01:45,120 Speaker 3: not even being targeted in the strike, but they're not 36 00:01:45,160 --> 00:01:48,040 Speaker 3: getting the stamped materials that they need to make the 37 00:01:48,040 --> 00:01:49,200 Speaker 3: products that they're working on. 38 00:01:49,280 --> 00:01:49,520 Speaker 2: Here. 39 00:01:50,160 --> 00:01:52,760 Speaker 3: This is where Seth Harris comes in. Everything he has 40 00:01:52,800 --> 00:01:57,040 Speaker 3: told us about this event has happened so far. Senior 41 00:01:57,040 --> 00:02:00,000 Speaker 3: fellow at the Burn Center for Social Change at Northeastern University, 42 00:02:00,000 --> 00:02:03,400 Speaker 3: the former top labor policy advisor to President Biden, former 43 00:02:03,440 --> 00:02:06,480 Speaker 3: labor secretary to President Obama. Okay So we've got somebody 44 00:02:06,600 --> 00:02:09,440 Speaker 3: who's been there and done that. Although Seth this does 45 00:02:09,480 --> 00:02:13,079 Speaker 3: feel historic in its scale, and the language that we're 46 00:02:13,080 --> 00:02:15,560 Speaker 3: hearing welcome back, by the way, makes us feel like 47 00:02:15,600 --> 00:02:18,359 Speaker 3: the sides are ever further apart. How do you see 48 00:02:18,360 --> 00:02:19,200 Speaker 3: it on this Monday? 49 00:02:20,320 --> 00:02:23,280 Speaker 5: Well, Joe, it's great to be with you. I think 50 00:02:23,320 --> 00:02:26,280 Speaker 5: we've got a good long way to go before we 51 00:02:26,280 --> 00:02:30,239 Speaker 5: get to a settlement here. The parties are quite far 52 00:02:30,320 --> 00:02:32,840 Speaker 5: apart on a number of issues. It's not just wages. 53 00:02:32,880 --> 00:02:37,200 Speaker 5: We're all fairly tightly focused on the dollar figures for 54 00:02:37,440 --> 00:02:40,000 Speaker 5: what kind of wage increase the auto workers will get 55 00:02:40,200 --> 00:02:42,519 Speaker 5: over the next four years. But there's a longer list 56 00:02:42,919 --> 00:02:45,960 Speaker 5: of very very important issues, one of them being the 57 00:02:46,000 --> 00:02:50,440 Speaker 5: two tiered employment structure. Another is cost of living adjustments. 58 00:02:50,560 --> 00:02:54,520 Speaker 5: Another is whether temporary workers will become permanent workers. And 59 00:02:54,560 --> 00:03:00,600 Speaker 5: also the union is demanding job security. So I think 60 00:03:00,880 --> 00:03:03,160 Speaker 5: there's a long way to go in a number of places. 61 00:03:03,240 --> 00:03:06,680 Speaker 5: We'll see the union ramp up the number of plants 62 00:03:06,720 --> 00:03:09,800 Speaker 5: that it shuts down over the course of the next week, 63 00:03:09,880 --> 00:03:13,440 Speaker 5: maybe longer, and then we're going to have to see 64 00:03:13,440 --> 00:03:14,440 Speaker 5: if the companies move. 65 00:03:15,960 --> 00:03:18,480 Speaker 3: What's it like at the table right now when You've 66 00:03:18,520 --> 00:03:21,960 Speaker 3: got a union president who's talking about not only a 67 00:03:22,000 --> 00:03:25,799 Speaker 3: strike that's actively underway seth but one that could get 68 00:03:25,840 --> 00:03:31,519 Speaker 3: worse and more expansive in the days ahead. This could 69 00:03:31,560 --> 00:03:35,000 Speaker 3: take a lot of different directions here. What's the posture 70 00:03:35,040 --> 00:03:37,480 Speaker 3: of the automakers when they're hearing this from the other 71 00:03:37,520 --> 00:03:38,240 Speaker 3: side of the table. 72 00:03:39,920 --> 00:03:43,000 Speaker 5: Well, you know, it's an intriguing question how they are 73 00:03:43,080 --> 00:03:47,560 Speaker 5: taking this in. They have moved on their wage offers, 74 00:03:48,240 --> 00:03:50,600 Speaker 5: which is an indication that they know that the union 75 00:03:50,680 --> 00:03:54,000 Speaker 5: is very, very serious about the strike, but they have 76 00:03:54,120 --> 00:03:57,120 Speaker 5: not moved in a lot of other ways. And you know, 77 00:03:57,160 --> 00:03:59,400 Speaker 5: I think there are sort of two models here, Joe. 78 00:04:00,120 --> 00:04:03,640 Speaker 5: One is the UPS model, where the teamsters applied a 79 00:04:03,640 --> 00:04:08,280 Speaker 5: tremendous amount of pressure, threatened to strike, prepared to strike, 80 00:04:08,720 --> 00:04:11,920 Speaker 5: and UPS understood the moment, understood what was going on 81 00:04:11,960 --> 00:04:16,039 Speaker 5: with their employees, and they moved. They substantially revamped their 82 00:04:16,080 --> 00:04:20,320 Speaker 5: relationships with their employees. On the other hand, we have 83 00:04:20,720 --> 00:04:25,640 Speaker 5: the Hollywood studios who have completely mismanaged their labor relations, 84 00:04:25,920 --> 00:04:31,480 Speaker 5: completely misunderstood the moment. They're trying to cut costs, cut employment, 85 00:04:31,920 --> 00:04:36,400 Speaker 5: and frankly shift the cost of their business decisions onto 86 00:04:36,440 --> 00:04:38,680 Speaker 5: their workers and both the writers and the actors have 87 00:04:38,760 --> 00:04:42,039 Speaker 5: said no way. So the question for the automakers is 88 00:04:42,080 --> 00:04:44,520 Speaker 5: which of those two models are they going to follow? 89 00:04:44,600 --> 00:04:48,080 Speaker 5: Are they going to modernize their employment relationships and try 90 00:04:48,120 --> 00:04:50,600 Speaker 5: and cut a fair deal with the EUAW. Are they 91 00:04:50,640 --> 00:04:53,840 Speaker 5: going to be as intransigent as the Hollywood studios have been. 92 00:04:53,920 --> 00:04:55,680 Speaker 5: I think it's going to be interesting to see what 93 00:04:55,760 --> 00:04:58,719 Speaker 5: happens as the UAW ramps up the pressure. 94 00:05:00,000 --> 00:05:01,760 Speaker 3: I like to ask you about that Hollywood action SETH, 95 00:05:01,800 --> 00:05:03,359 Speaker 3: because we don't talk about it enough, and it's been 96 00:05:03,400 --> 00:05:06,240 Speaker 3: going on a lot longer than this one. But we're 97 00:05:06,320 --> 00:05:08,839 Speaker 3: reading now that we've got one hundred million dollar loss 98 00:05:08,880 --> 00:05:13,279 Speaker 3: every week for Ford and GM as the strikes continue, 99 00:05:13,279 --> 00:05:16,520 Speaker 3: knowing that number could get a lot higher, what makes 100 00:05:16,560 --> 00:05:21,000 Speaker 3: you think that this could be protracted that doesn't usher 101 00:05:21,040 --> 00:05:24,599 Speaker 3: in a deal anymore quickly? Here with the automakers or SETH, 102 00:05:24,680 --> 00:05:26,000 Speaker 3: Are they thinking about a lockout? 103 00:05:26,040 --> 00:05:27,159 Speaker 2: Could that be the next move? 104 00:05:28,600 --> 00:05:31,920 Speaker 5: I think a lockout is unlikely, and the one hundred 105 00:05:31,960 --> 00:05:35,480 Speaker 5: million dollar figure, I think assumes a much larger scale 106 00:05:35,520 --> 00:05:40,120 Speaker 5: strike than we're seeing right now. What the union has 107 00:05:40,200 --> 00:05:42,839 Speaker 5: launched is what they're calling a stand up strike, which 108 00:05:42,880 --> 00:05:45,960 Speaker 5: is a hearkens back to the days of nineteen thirties 109 00:05:46,000 --> 00:05:48,800 Speaker 5: when the union had sit down strikes, and that's how 110 00:05:48,839 --> 00:05:52,719 Speaker 5: the union was born. So they're only striking three facilities, 111 00:05:52,760 --> 00:05:55,680 Speaker 5: and that's causing a small number of layoffs, both in 112 00:05:55,720 --> 00:05:59,240 Speaker 5: those facilities and beyond. But you know, the companies are 113 00:05:59,240 --> 00:06:02,200 Speaker 5: not really shut down. If you had a complete shutdown, 114 00:06:02,200 --> 00:06:05,240 Speaker 5: then we would be looking at billions of dollars in 115 00:06:05,360 --> 00:06:08,200 Speaker 5: costs over the course of a couple of weeks. I 116 00:06:08,240 --> 00:06:10,440 Speaker 5: don't think we're going to see that much loss. We're 117 00:06:10,480 --> 00:06:13,280 Speaker 5: not going to see that much loss in auto communities 118 00:06:13,360 --> 00:06:15,520 Speaker 5: because most of the auto workers are still working and 119 00:06:15,560 --> 00:06:18,480 Speaker 5: they're still paying their bills, they're still shopping, they're still 120 00:06:18,480 --> 00:06:21,680 Speaker 5: paying their rent and mortgage. So I think the economic 121 00:06:21,720 --> 00:06:25,120 Speaker 5: impact right now is fairly limited. But the risk is 122 00:06:25,279 --> 00:06:29,599 Speaker 5: tremendous as the union ramps up and both the companies 123 00:06:29,640 --> 00:06:32,160 Speaker 5: and the union have to figure out how much cost 124 00:06:32,279 --> 00:06:36,600 Speaker 5: they can bear. And you know that's how power is defined. 125 00:06:36,920 --> 00:06:39,279 Speaker 5: How much cost can you bear, how much benefit are 126 00:06:39,320 --> 00:06:41,400 Speaker 5: you going to get? How much risk are you willing 127 00:06:41,440 --> 00:06:41,839 Speaker 5: to bear? 128 00:06:43,360 --> 00:06:46,760 Speaker 3: Twenty one percent pay raise offered by Stilantes interesting by 129 00:06:46,760 --> 00:06:49,560 Speaker 3: the way that the automakers are putting their offers out 130 00:06:49,600 --> 00:06:53,280 Speaker 3: publicly so people know what it is that's being rejected. 131 00:06:53,600 --> 00:06:56,320 Speaker 3: As I said earlier, definitely a no go. The language 132 00:06:56,320 --> 00:06:58,719 Speaker 3: from Sean Fain on twenty one percent. Do you have 133 00:06:58,760 --> 00:07:02,920 Speaker 3: a number in your mind as the union I believe 134 00:07:03,160 --> 00:07:06,880 Speaker 3: stands at thirty six percent? Seth, Is it somewhere between 135 00:07:06,920 --> 00:07:07,280 Speaker 3: these two? 136 00:07:08,520 --> 00:07:11,080 Speaker 5: I don't. I don't know what the number is going 137 00:07:11,120 --> 00:07:16,040 Speaker 5: to be. And what matters from the union's perspective is 138 00:07:16,200 --> 00:07:22,720 Speaker 5: what contract will get an overwhelming ratification vote, a favorable 139 00:07:22,800 --> 00:07:26,600 Speaker 5: ratification vote from the membership. Sean Fain was elected by 140 00:07:26,680 --> 00:07:29,120 Speaker 5: just a few hundred votes, and he really needs to 141 00:07:29,160 --> 00:07:34,679 Speaker 5: pull his union together around this contract. So he needs 142 00:07:34,680 --> 00:07:37,520 Speaker 5: to get a vote of sixty sixty five percent something 143 00:07:37,560 --> 00:07:40,440 Speaker 5: even north of that, to show that his members are 144 00:07:40,480 --> 00:07:44,480 Speaker 5: standing behind him and the Teamsters UPS negotiations. The UPS 145 00:07:44,560 --> 00:07:48,320 Speaker 5: Teamsters voted eighty three percent for their contract. That's a 146 00:07:48,360 --> 00:07:52,280 Speaker 5: sign that President O'Brien succeeded in getting them the deal 147 00:07:52,360 --> 00:07:55,240 Speaker 5: that they wanted. Now we have to see a president 148 00:07:55,280 --> 00:07:57,760 Speaker 5: Fain can negotiate a deal that his members are going 149 00:07:57,840 --> 00:07:59,200 Speaker 5: to support enthusiastically. 150 00:08:00,280 --> 00:08:02,360 Speaker 2: Yeah, that's right. Talk to me more about what's happening 151 00:08:02,480 --> 00:08:03,160 Speaker 2: in Hollywood. 152 00:08:03,440 --> 00:08:07,760 Speaker 3: Seth Harris, we saw Drew Barrymore pulling about face after 153 00:08:07,800 --> 00:08:09,920 Speaker 3: she said she was putting her TV show back on. 154 00:08:10,000 --> 00:08:14,280 Speaker 3: Now she's not after the backlash. Same thing happened just 155 00:08:14,320 --> 00:08:17,200 Speaker 3: about an hour ago to Bill Maher, who was supposed 156 00:08:17,200 --> 00:08:19,880 Speaker 3: to have his show back on HBO this Friday. Apparently 157 00:08:20,480 --> 00:08:24,280 Speaker 3: that's not going to happen either. Following his explanation for 158 00:08:24,400 --> 00:08:26,200 Speaker 3: that decision, he said, this has been going on a 159 00:08:26,240 --> 00:08:28,400 Speaker 3: long time, didn't seem like any progress had been made. 160 00:08:28,440 --> 00:08:31,120 Speaker 3: They've both been forced to back off those plans. 161 00:08:31,160 --> 00:08:33,319 Speaker 2: Seth. How long is this going to go for in Hollywood? 162 00:08:34,360 --> 00:08:37,880 Speaker 5: Boy, It's very hard to predict, you know. There are 163 00:08:37,920 --> 00:08:42,360 Speaker 5: the writers started their strike in May, the actors started 164 00:08:42,360 --> 00:08:45,520 Speaker 5: their strike in July, and act the writers are just 165 00:08:45,559 --> 00:08:47,400 Speaker 5: getting back to the table. I don't think there have 166 00:08:47,480 --> 00:08:50,840 Speaker 5: been any negotiations with the actors in quite some time. 167 00:08:51,679 --> 00:08:56,199 Speaker 5: I think that the studios just thoroughly misunderstand what's going 168 00:08:56,240 --> 00:08:59,880 Speaker 5: on here, and we're not going to see shows getting produced, 169 00:08:59,880 --> 00:09:02,920 Speaker 5: accept those that are produced or movies that are produced 170 00:09:02,920 --> 00:09:06,559 Speaker 5: by independent producers who are not part of the trade 171 00:09:06,600 --> 00:09:10,760 Speaker 5: association that's negotiating with SAG. AFTRA and the Writer's Guild. 172 00:09:11,440 --> 00:09:13,520 Speaker 5: And let me say, Drew Barrymore and Bill Maher by 173 00:09:13,520 --> 00:09:15,880 Speaker 5: pulling back their efforts to start their shows, did the 174 00:09:15,960 --> 00:09:18,400 Speaker 5: right thing. You don't want to cross a picket line 175 00:09:18,480 --> 00:09:21,600 Speaker 5: and put yourself in conflict with your co workers and 176 00:09:21,640 --> 00:09:25,280 Speaker 5: your friends in your industry. But at the end of 177 00:09:25,320 --> 00:09:27,679 Speaker 5: the day, the studios are going to have to make 178 00:09:27,720 --> 00:09:30,320 Speaker 5: some significant changes to the way they want to do 179 00:09:30,360 --> 00:09:33,480 Speaker 5: business and the way they're currently doing business and let 180 00:09:33,520 --> 00:09:36,720 Speaker 5: those workers, the actors and writers in on the profits 181 00:09:36,720 --> 00:09:39,880 Speaker 5: that they're making. Now. They've made some bad business decisions. 182 00:09:40,200 --> 00:09:44,240 Speaker 5: They overinvested in streaming. There's a lot of streaming services 183 00:09:44,320 --> 00:09:46,280 Speaker 5: right now. They're not making enough money off of that. 184 00:09:46,600 --> 00:09:50,080 Speaker 5: But that's competition among the businesses. There's no reason the 185 00:09:50,200 --> 00:09:53,880 Speaker 5: workers should have to subsidize that by giving up money, 186 00:09:53,960 --> 00:09:56,800 Speaker 5: giving up jobs, and giving up opportunities. 187 00:09:57,880 --> 00:10:00,800 Speaker 3: So what's the cumulative effect here on A. Marria's view 188 00:10:01,000 --> 00:10:04,560 Speaker 3: on organized labor seth Maybe I'm asking the wrong person, 189 00:10:04,559 --> 00:10:07,120 Speaker 3: but I'm curious your thought on this. When they hear 190 00:10:07,440 --> 00:10:10,760 Speaker 3: auto workers turning down a twenty one percent pay raise, 191 00:10:11,240 --> 00:10:14,680 Speaker 3: when they see the situation happening in Hollywood, they don't 192 00:10:14,720 --> 00:10:17,959 Speaker 3: have the shows that they were hoping to watch this fall. 193 00:10:18,000 --> 00:10:21,440 Speaker 3: Does it come together before Americans in a way that 194 00:10:21,559 --> 00:10:24,160 Speaker 3: makes organized labor appear broken? 195 00:10:25,520 --> 00:10:28,000 Speaker 5: I think the opposite is true. I think the increased 196 00:10:28,040 --> 00:10:31,440 Speaker 5: worker activism and worker organizing we're seeing around the country 197 00:10:31,800 --> 00:10:35,240 Speaker 5: has increased the popularity of the labor movement, the labor movement. 198 00:10:35,600 --> 00:10:38,000 Speaker 5: Two thirds of Americans say they have a favorable view 199 00:10:38,040 --> 00:10:41,160 Speaker 5: of the labor movement. Eighty eight percent of workers under 200 00:10:41,200 --> 00:10:43,800 Speaker 5: the age of thirty say they have a favorable view 201 00:10:43,800 --> 00:10:47,080 Speaker 5: of the labor movement. Two thirds of the workers under 202 00:10:47,080 --> 00:10:48,720 Speaker 5: the age of thirty say they would like to have 203 00:10:48,760 --> 00:10:52,720 Speaker 5: a union in their workplace. Boy, that is really really 204 00:10:52,800 --> 00:10:57,079 Speaker 5: good news for organized labor, and I think bad news 205 00:10:57,080 --> 00:10:59,840 Speaker 5: for the corporate folks who are trying to sort of 206 00:11:00,080 --> 00:11:05,640 Speaker 5: tarn the story against unions. I think that seeing activism, 207 00:11:05,760 --> 00:11:09,880 Speaker 5: seeing unions fighting for their members and winning, is a 208 00:11:09,960 --> 00:11:13,200 Speaker 5: successful strategy for the labor movement, and so far, you know, 209 00:11:13,240 --> 00:11:16,560 Speaker 5: the public is wholeheartedly behind them, including the UAW. 210 00:11:18,160 --> 00:11:19,920 Speaker 3: Seth, It's great to have you back. He's helped us 211 00:11:19,960 --> 00:11:21,320 Speaker 3: walk through this and I think we're going to need 212 00:11:21,360 --> 00:11:23,800 Speaker 3: your help again. Seth Harris, the former I want to 213 00:11:23,800 --> 00:11:25,960 Speaker 3: get it right this time. Deputy Assistant to the President 214 00:11:26,080 --> 00:11:29,240 Speaker 3: Labor and Economy under President Biden, former Deputy Secretary of 215 00:11:29,280 --> 00:11:32,080 Speaker 3: Labor and former acting you had every friendly business card 216 00:11:32,679 --> 00:11:36,800 Speaker 3: possible between these two administrations during the Obama administration. He's 217 00:11:36,840 --> 00:11:40,480 Speaker 3: now at Northeastern University Senior Fellow at the Burns Center 218 00:11:40,520 --> 00:11:43,400 Speaker 3: for Social Change. Seth, thank you as we assemble our panel. 219 00:11:43,440 --> 00:11:47,440 Speaker 3: Rick Davis and Genie Shanzano join now Bloomberg Politics contributors 220 00:11:47,440 --> 00:11:49,319 Speaker 3: on What he Is Day four, I guess, the third 221 00:11:49,400 --> 00:11:52,400 Speaker 3: full day of this labor action. Genie, what do you 222 00:11:52,440 --> 00:11:55,240 Speaker 3: think about what Seth just said. If unions are more 223 00:11:55,240 --> 00:11:57,719 Speaker 3: popular than ever because of all of this, when does 224 00:11:57,760 --> 00:11:59,479 Speaker 3: that add up to increased membership? 225 00:12:00,880 --> 00:12:02,960 Speaker 6: You know, I think we may see that going forward, 226 00:12:02,960 --> 00:12:05,560 Speaker 6: depending on how this pans out. And of course, as 227 00:12:05,600 --> 00:12:08,960 Speaker 6: you mentioned, the important strike going on in Hollywood, and 228 00:12:09,040 --> 00:12:11,360 Speaker 6: you know, I think it is striking in addition to 229 00:12:11,440 --> 00:12:13,880 Speaker 6: the polls that Seth mentioned, and I think that is 230 00:12:14,080 --> 00:12:16,640 Speaker 6: very good news for labor. Is the fact, if you 231 00:12:16,760 --> 00:12:19,280 Speaker 6: look at our public officials, and I've been paying careful 232 00:12:19,320 --> 00:12:22,720 Speaker 6: attention to their statements over the last several days, from 233 00:12:22,760 --> 00:12:26,480 Speaker 6: Biden to Trump, the most popular public officials on all 234 00:12:26,520 --> 00:12:30,120 Speaker 6: sides are standing with and trying to attract labor, and 235 00:12:30,200 --> 00:12:33,080 Speaker 6: I think the reason is pretty simple. We are talking 236 00:12:33,080 --> 00:12:37,160 Speaker 6: about record profits for CEOs and we are talking about 237 00:12:37,440 --> 00:12:40,200 Speaker 6: workers on the line whose pay has not kept up 238 00:12:40,200 --> 00:12:42,800 Speaker 6: with inflation. It is not as simple with as that 239 00:12:42,880 --> 00:12:45,160 Speaker 6: when you get to the bargaining table, of course, but 240 00:12:45,280 --> 00:12:48,720 Speaker 6: that's the message the public is hearing. Forty percent pay 241 00:12:48,760 --> 00:12:52,280 Speaker 6: increase for CEOs versus workers whose pay hasn't kept up 242 00:12:52,280 --> 00:12:55,120 Speaker 6: with inflation. That is a message that is going to 243 00:12:55,160 --> 00:12:58,080 Speaker 6: resonate with the public, and that means that the polls 244 00:12:58,120 --> 00:13:00,400 Speaker 6: are supportive of where these workers stand. 245 00:13:02,200 --> 00:13:03,640 Speaker 2: Jeanie says, it's striking Rick. 246 00:13:03,720 --> 00:13:05,480 Speaker 3: That was pretty good, Genie, I don't know how you've 247 00:13:05,720 --> 00:13:06,720 Speaker 3: always managed to do it. 248 00:13:06,760 --> 00:13:08,040 Speaker 2: When's the backlash? Though? 249 00:13:08,080 --> 00:13:10,800 Speaker 3: Potentially for these unions, at a certain point, you do 250 00:13:10,920 --> 00:13:14,920 Speaker 3: reach the level of diminishing returns. Here, people's shows aren't 251 00:13:14,960 --> 00:13:17,840 Speaker 3: on this fall. Maybe you can't get a car the 252 00:13:17,840 --> 00:13:21,520 Speaker 3: way you want, or your car's price goes higher because 253 00:13:21,520 --> 00:13:25,000 Speaker 3: of this, and maybe the cumulative effect leads to a recession. 254 00:13:25,200 --> 00:13:27,520 Speaker 3: Does that blow back on the union ever? 255 00:13:28,720 --> 00:13:30,840 Speaker 7: You know, I think the cover over all of this 256 00:13:31,000 --> 00:13:33,480 Speaker 7: is the politics of this right. You got to remember 257 00:13:33,600 --> 00:13:36,760 Speaker 7: that it were the union voters who helped put Donald 258 00:13:36,800 --> 00:13:40,800 Speaker 7: Trump up and become president in twenty sixteen in some 259 00:13:40,880 --> 00:13:44,319 Speaker 7: of these key Midwestern states, and so they've been looking 260 00:13:44,360 --> 00:13:49,200 Speaker 7: at options to being, you know, loyal to the Democratic Party. 261 00:13:49,440 --> 00:13:52,600 Speaker 7: And I think what you see here is the potential 262 00:13:52,679 --> 00:13:56,120 Speaker 7: for this strike and the emergence of time with the strike. 263 00:13:56,160 --> 00:13:59,160 Speaker 7: In other words, the longer it takes, the worse it 264 00:13:59,200 --> 00:14:02,120 Speaker 7: is for Joe Biden. I don't think anybody disagrees with that, 265 00:14:02,600 --> 00:14:05,080 Speaker 7: and potentially the better it is for Donald Trump. I mean, 266 00:14:05,120 --> 00:14:10,480 Speaker 7: so Biden's efforts to try and promote unions in America 267 00:14:11,600 --> 00:14:14,400 Speaker 7: may result in benefits to Donald Trump. 268 00:14:16,280 --> 00:14:18,199 Speaker 3: A lot more to come with our panel, Rick Davis 269 00:14:18,200 --> 00:14:20,880 Speaker 3: and Jeanie Shanzino. Out of the Blocks on a Monday, 270 00:14:20,880 --> 00:14:23,600 Speaker 3: with an apparent deal in the House on the budget 271 00:14:24,040 --> 00:14:29,520 Speaker 3: among Republicans, can it last be? On the end of 272 00:14:29,560 --> 00:14:31,760 Speaker 3: this program, we'll talk to Rick and Jeanie and have 273 00:14:31,840 --> 00:14:32,880 Speaker 3: more from Capitol Hill. 274 00:14:32,920 --> 00:14:33,160 Speaker 7: Next. 275 00:14:38,600 --> 00:14:42,000 Speaker 1: You're listening to The Bloomberg Sound On podcast. Catch the 276 00:14:42,000 --> 00:14:45,920 Speaker 1: program live weekdays at one Eastern on Bloomberg Radio, the 277 00:14:45,960 --> 00:14:47,960 Speaker 1: tune in app, Bloomberg dot Com, and. 278 00:14:47,960 --> 00:14:49,280 Speaker 5: The Bloomberg Business app. 279 00:14:49,440 --> 00:14:52,280 Speaker 1: You can also listen live on Amazon Alexa from our 280 00:14:52,320 --> 00:14:57,560 Speaker 1: flagship New York station, Just say Alexa play Bloomberg eleven thirty. 281 00:14:58,400 --> 00:15:03,280 Speaker 3: As the UAW auto wor strike enters day four today, 282 00:15:03,280 --> 00:15:07,080 Speaker 3: there's talk of a deal here in Washington on funding 283 00:15:07,120 --> 00:15:10,560 Speaker 3: the government. This is not a story that's going away 284 00:15:11,080 --> 00:15:13,520 Speaker 3: anytime soon, certainly not before the end of the month 285 00:15:13,640 --> 00:15:15,920 Speaker 3: when the fiscal year ends. The big question right now 286 00:15:16,000 --> 00:15:18,840 Speaker 3: is does the government shut down at the end of 287 00:15:18,840 --> 00:15:21,160 Speaker 3: this month or will there be a continuing resolution to 288 00:15:21,240 --> 00:15:24,960 Speaker 3: stop gap bill that somehow gets us through the end 289 00:15:25,000 --> 00:15:27,080 Speaker 3: of the month and buys a little more time to 290 00:15:27,120 --> 00:15:30,160 Speaker 3: negotiate here. By the way, everyone seems to think a 291 00:15:30,200 --> 00:15:32,680 Speaker 3: shutdown we'll still be inevitable just later on in the year. 292 00:15:32,720 --> 00:15:34,960 Speaker 3: But how about this headlining great work from Billy House 293 00:15:35,000 --> 00:15:39,000 Speaker 3: and Eric wasson Bloomberg Congress reporters. McCarthy demands eight percent 294 00:15:39,080 --> 00:15:41,520 Speaker 3: spending cup border wall to avert shutdown. 295 00:15:41,640 --> 00:15:44,400 Speaker 2: Hey, we've got a deal on something. 296 00:15:44,960 --> 00:15:45,160 Speaker 5: You know. 297 00:15:45,240 --> 00:15:47,160 Speaker 3: Of course, members of the Freedom Caucus have not been 298 00:15:47,200 --> 00:15:52,720 Speaker 3: big fans of Speaker McCarthy, leading to this government fight. 299 00:15:53,720 --> 00:15:57,640 Speaker 3: Interesting headline as well on the terminal as we seek 300 00:15:57,720 --> 00:16:03,440 Speaker 3: to apparently Gate, the debt ceiling deal. Now, this was 301 00:16:03,520 --> 00:16:06,040 Speaker 3: playing out on Sunday Morning television before we bring Rick 302 00:16:06,040 --> 00:16:09,640 Speaker 3: and Jennie back in here. Kevin McCarthy on Fox talking 303 00:16:09,680 --> 00:16:13,880 Speaker 3: to Maria Bartiromo about landing a deal here and avoiding 304 00:16:13,960 --> 00:16:16,160 Speaker 3: a shutdown for political reasons. 305 00:16:16,040 --> 00:16:18,880 Speaker 8: A shutdown would only give strength to the Democrats, It 306 00:16:18,920 --> 00:16:21,280 Speaker 8: would give the power to Biden. It wouldn't pay our troops, 307 00:16:21,280 --> 00:16:23,320 Speaker 8: it wouldn't pay our border agents, more people would be 308 00:16:23,400 --> 00:16:26,160 Speaker 8: coming across. I actually want to achieve something. 309 00:16:27,120 --> 00:16:29,440 Speaker 3: Right around that same time, Fox New Sunday, at least 310 00:16:29,480 --> 00:16:32,120 Speaker 3: to phonic of course, whipping for Republicans in the leadership 311 00:16:32,160 --> 00:16:33,280 Speaker 3: in the US House. 312 00:16:33,240 --> 00:16:35,160 Speaker 9: Well, we're in a very good place. I've been engaged 313 00:16:35,200 --> 00:16:37,960 Speaker 9: in conversation with members as well as Speaker McCarthy over 314 00:16:38,000 --> 00:16:40,280 Speaker 9: the weekend. We are working through this and I'm optimistic 315 00:16:40,320 --> 00:16:42,960 Speaker 9: that we will continue to move the appropriations process forward, 316 00:16:43,280 --> 00:16:46,240 Speaker 9: and that includes the dud Appropriations Bill, that also includes 317 00:16:46,280 --> 00:16:49,720 Speaker 9: potentially a continuing resolution to ensure that we do not 318 00:16:49,800 --> 00:16:51,320 Speaker 9: face a government shutdown. 319 00:16:53,480 --> 00:16:54,560 Speaker 2: Government funding fight. 320 00:16:54,760 --> 00:16:57,080 Speaker 3: Just round two of the debt ceiling brawl, I read 321 00:16:57,080 --> 00:16:59,200 Speaker 3: on the terminal and that is basically what we're talking 322 00:16:59,200 --> 00:16:59,600 Speaker 3: about here. 323 00:16:59,640 --> 00:16:59,720 Speaker 5: Right. 324 00:17:00,200 --> 00:17:02,640 Speaker 3: This was largely done earlier in the year when we 325 00:17:02,680 --> 00:17:05,200 Speaker 3: avoid a default, but we're doing this again. Let's reassemble 326 00:17:05,240 --> 00:17:09,159 Speaker 3: the panel with Genie Shanzano and Rick Davis. What's your 327 00:17:09,160 --> 00:17:12,399 Speaker 3: thought on the appropriations process this morning? Here, Rick, I 328 00:17:12,440 --> 00:17:17,919 Speaker 3: see that ninety eight members of the House Democrats, the 329 00:17:17,960 --> 00:17:22,840 Speaker 3: new Democrat coalition, this, according to Axios, off with a 330 00:17:22,880 --> 00:17:25,440 Speaker 3: letter to Kevin McCarthy urging him to put the Senates 331 00:17:25,920 --> 00:17:30,720 Speaker 3: Bipartisan Appropriations Bill up for a vote. Does it sound 332 00:17:30,760 --> 00:17:35,200 Speaker 3: like consensus around anything right now on Capitol Hill? 333 00:17:35,359 --> 00:17:37,800 Speaker 7: Well, I think we can ignore the Democrats right now. 334 00:17:37,800 --> 00:17:42,240 Speaker 7: They're probably just taking advantage politically. Their ability to affect 335 00:17:42,280 --> 00:17:43,800 Speaker 7: change right now is pretty limited. 336 00:17:44,080 --> 00:17:45,680 Speaker 2: I think what you're hoping for. 337 00:17:45,640 --> 00:17:48,280 Speaker 7: Is that the Republican Caucus actually gets together. If you 338 00:17:48,280 --> 00:17:51,240 Speaker 7: could get ninety Republicans in a room who would actually 339 00:17:51,240 --> 00:17:52,960 Speaker 7: agree on a way forward on this saying, it'd be 340 00:17:53,000 --> 00:17:55,760 Speaker 7: a significant accomplishment. I think what we heard over the weekend, 341 00:17:56,240 --> 00:17:59,200 Speaker 7: you know, with the Freedom Caucus and the Main Street Caucus, 342 00:17:59,640 --> 00:18:04,600 Speaker 7: two dimetrically opposite groups, right, one tends toward more centrist policies, 343 00:18:04,640 --> 00:18:07,760 Speaker 7: the other tends toward more off the cliff policies. And 344 00:18:07,800 --> 00:18:09,720 Speaker 7: they got together and said, look, let's put a little 345 00:18:09,840 --> 00:18:13,520 Speaker 7: mini bus together, you know, a group of agencies that 346 00:18:13,560 --> 00:18:17,600 Speaker 7: we can fund. They did the eight percent cut that 347 00:18:17,640 --> 00:18:20,760 Speaker 7: you described non defense spending and said we as a 348 00:18:20,800 --> 00:18:23,600 Speaker 7: group would be willing to support this. The problem is 349 00:18:23,680 --> 00:18:27,040 Speaker 7: there are three other caucuses within the Republican Party, the 350 00:18:27,119 --> 00:18:30,040 Speaker 7: five Families, Remember were reminded of them all the time 351 00:18:30,040 --> 00:18:32,160 Speaker 7: we get into this kind of trouble. Well, they haven't 352 00:18:32,160 --> 00:18:34,840 Speaker 7: been heard of yet. So I was really happy to 353 00:18:34,880 --> 00:18:38,240 Speaker 7: hear the speaker, as you played the clip over the weekend, 354 00:18:38,400 --> 00:18:41,800 Speaker 7: say I want to avoid a shutdown because some in 355 00:18:41,800 --> 00:18:45,000 Speaker 7: his caucus think a shutdowns good politics. He is smart 356 00:18:45,119 --> 00:18:49,080 Speaker 7: enough still as a politician to know that that's only 357 00:18:49,119 --> 00:18:51,280 Speaker 7: going to give more power to the Democrats and make 358 00:18:51,359 --> 00:18:53,960 Speaker 7: Republicans look like they can't manage the federal budget. So 359 00:18:54,800 --> 00:18:58,119 Speaker 7: there seems to be new pressure, new momentum in trying 360 00:18:58,160 --> 00:19:02,480 Speaker 7: to avert a shutdown. And I think it's pick them right. 361 00:19:02,600 --> 00:19:04,320 Speaker 7: You know, you can take the Senate bill, you can 362 00:19:04,359 --> 00:19:06,600 Speaker 7: pass the House bill, but either way it gets then 363 00:19:06,640 --> 00:19:10,639 Speaker 7: into us a good conversation about putting a spending package 364 00:19:10,680 --> 00:19:13,480 Speaker 7: together that keeps you from having to shut down the government. 365 00:19:14,600 --> 00:19:14,879 Speaker 10: Genie. 366 00:19:14,880 --> 00:19:17,000 Speaker 3: At least the Phonic says, Republicans in the House are 367 00:19:17,000 --> 00:19:20,720 Speaker 3: in a good place. Rick just mentioned the Main Street Cox, 368 00:19:20,800 --> 00:19:25,239 Speaker 3: the House Freedom Caucus coming together to essentially endorse this 369 00:19:25,280 --> 00:19:28,119 Speaker 3: deal that Kevin McCarthy is promoting. He says they're going 370 00:19:28,200 --> 00:19:31,680 Speaker 3: to vote on this on Thursday. But it wasn't the 371 00:19:31,720 --> 00:19:34,680 Speaker 3: Main Street Caucus we had to worry about originally, Right 372 00:19:34,760 --> 00:19:37,520 Speaker 3: is can the House Freedom Caucus stay together on this? 373 00:19:39,119 --> 00:19:39,320 Speaker 1: You know? 374 00:19:39,920 --> 00:19:43,080 Speaker 6: Apparently not. I mean, just in the hours after they 375 00:19:43,119 --> 00:19:46,080 Speaker 6: released this, you had ten members come forward and say 376 00:19:46,080 --> 00:19:49,760 Speaker 6: they weren't going to support it, including Marjorie Taylor Green, 377 00:19:49,800 --> 00:19:51,960 Speaker 6: who's not a part of the Freedom Caucus, she's part 378 00:19:52,000 --> 00:19:56,560 Speaker 6: of McCarthy's leadership. I don't know what a least Stephonic 379 00:19:56,720 --> 00:19:59,320 Speaker 6: is thinking when she describes this as a good position 380 00:19:59,400 --> 00:20:04,399 Speaker 6: for the House Republican leadership. It is anything. But she's 381 00:20:04,600 --> 00:20:08,320 Speaker 6: very optimistic. Apparently God bless her. She's also a New Yorker. 382 00:20:08,640 --> 00:20:14,000 Speaker 6: But the reality is what they are talking about ISDA 383 00:20:14,320 --> 00:20:17,080 Speaker 6: It is dead on arrival in the Senate and they 384 00:20:17,119 --> 00:20:19,760 Speaker 6: are going to waste all this time, all this energy. 385 00:20:20,200 --> 00:20:23,480 Speaker 6: I don't know best case scenario they hold these various 386 00:20:23,520 --> 00:20:27,280 Speaker 6: families as describes them together, they pass this thing, it 387 00:20:27,359 --> 00:20:30,480 Speaker 6: is dead on arrival in the Senate. It will not 388 00:20:30,560 --> 00:20:33,000 Speaker 6: get the signature of the President. Even if it passed. 389 00:20:33,359 --> 00:20:38,040 Speaker 6: And let's not forget if you are serious about curtailing spending, 390 00:20:38,080 --> 00:20:40,919 Speaker 6: if you are serious about the deficit and debt we 391 00:20:41,119 --> 00:20:45,399 Speaker 6: have overspent in recent years. This is a nightmare because 392 00:20:45,840 --> 00:20:48,520 Speaker 6: it is not going to help the situation. But the 393 00:20:48,520 --> 00:20:51,560 Speaker 6: reality is most of these people in the Freedom Caucus 394 00:20:51,560 --> 00:20:54,359 Speaker 6: are not serious about this. This is performative because if 395 00:20:54,400 --> 00:20:57,320 Speaker 6: they were serious, they would be thinking about things, and 396 00:20:57,359 --> 00:21:00,600 Speaker 6: they would be working with people who also have power 397 00:21:00,640 --> 00:21:03,920 Speaker 6: in Congress to move this through in a productive way. 398 00:21:04,280 --> 00:21:07,880 Speaker 6: So yeah, Alas, Stephonic very optimistic this weekend, but I'm 399 00:21:07,920 --> 00:21:08,760 Speaker 6: not sure why. 400 00:21:09,960 --> 00:21:10,960 Speaker 2: Yeah. Well, I'll tell you what. 401 00:21:11,119 --> 00:21:15,080 Speaker 3: Ron DeSantis not terribly optimistic. He's backing those members of 402 00:21:15,119 --> 00:21:17,680 Speaker 3: the Freedom Coucress who say go ahead and shut it down. 403 00:21:17,880 --> 00:21:20,560 Speaker 3: And Kevin McCarthy was asked about that as well in 404 00:21:20,640 --> 00:21:22,199 Speaker 3: his interview on Fox Rick. 405 00:21:22,240 --> 00:21:23,000 Speaker 2: Here's what he said. 406 00:21:23,359 --> 00:21:26,240 Speaker 8: Look, I served with Ron DeSantis. He's not at the 407 00:21:26,280 --> 00:21:28,880 Speaker 8: same level as President Trump by any shape or form. 408 00:21:28,920 --> 00:21:31,760 Speaker 8: He would not have gotten elected without President Trump's endorsement. 409 00:21:32,119 --> 00:21:35,320 Speaker 8: And so I believe our best step forward pass our 410 00:21:35,359 --> 00:21:37,840 Speaker 8: appropriation bills, so we're stronger. 411 00:21:38,880 --> 00:21:39,600 Speaker 2: With a swipe. 412 00:21:40,520 --> 00:21:44,200 Speaker 3: Ron de Santis on the campaign trail as well. Should 413 00:21:44,200 --> 00:21:47,040 Speaker 3: the governor of Florida wait it into this, Rick or 414 00:21:47,080 --> 00:21:49,119 Speaker 3: does he end up with egg on his face? 415 00:21:50,119 --> 00:21:51,280 Speaker 2: Yeah? No, I don't get it. 416 00:21:51,400 --> 00:21:53,760 Speaker 7: I mean, the one thing about running for president if 417 00:21:53,760 --> 00:21:55,879 Speaker 7: you're in Congress is it means you don't have to 418 00:21:55,920 --> 00:21:58,639 Speaker 7: weigh into this stuff. You know, you would think the 419 00:21:58,760 --> 00:22:01,240 Speaker 7: governor would be smart not to get into the middle 420 00:22:01,280 --> 00:22:04,520 Speaker 7: of this morass, and especially because you have no idea 421 00:22:04,560 --> 00:22:07,080 Speaker 7: how it's going to turn out. And so yeah, I 422 00:22:07,119 --> 00:22:09,440 Speaker 7: can't imagine. I mean, like, I've advised a lot of 423 00:22:10,080 --> 00:22:13,720 Speaker 7: candidates who ran for national office, and I didn't ever 424 00:22:13,800 --> 00:22:16,000 Speaker 7: have one single moment where I said, hey, it's a 425 00:22:16,000 --> 00:22:19,760 Speaker 7: good thing to jump into this, you know, Internestine political 426 00:22:19,800 --> 00:22:22,920 Speaker 7: warfare in Washington, because somehow that's going to mean more 427 00:22:23,000 --> 00:22:27,120 Speaker 7: to your primary voters. Now he's wrong about this. He's 428 00:22:27,640 --> 00:22:30,000 Speaker 7: only going to spend more of his political capital. And 429 00:22:30,119 --> 00:22:31,720 Speaker 7: something that doesn't isn't worth anything. 430 00:22:33,560 --> 00:22:34,760 Speaker 2: That's pretty tough stuff there. 431 00:22:34,800 --> 00:22:38,359 Speaker 3: He's looking for any opportunity to break out the genie 432 00:22:38,400 --> 00:22:40,040 Speaker 3: and the latest polls that we saw for the weekend. 433 00:22:40,080 --> 00:22:42,920 Speaker 3: There was another one for CBS show Ron De Santis, 434 00:22:42,920 --> 00:22:46,600 Speaker 3: and some polls back in single digits. Here, I don't 435 00:22:46,600 --> 00:22:49,200 Speaker 3: want to open a whole new front on the campaign trail, 436 00:22:49,240 --> 00:22:52,960 Speaker 3: but specific to his candidacy, weighing in on the Tubberville 437 00:22:53,000 --> 00:22:56,800 Speaker 3: blockade and support winging in on the Freedom Caucus, support 438 00:22:56,880 --> 00:23:00,719 Speaker 3: of a government shutdown, is this his final stand? 439 00:23:02,520 --> 00:23:05,240 Speaker 6: You know, it very well might be because also over 440 00:23:05,280 --> 00:23:08,119 Speaker 6: the weekend you had Donald Trump out un meet the 441 00:23:08,160 --> 00:23:11,800 Speaker 6: press with Kristin Welker. Congratulations to Kristin Welker, another woman 442 00:23:11,880 --> 00:23:13,200 Speaker 6: leading a Sunday show. 443 00:23:13,440 --> 00:23:14,480 Speaker 1: And what was he doing. 444 00:23:14,560 --> 00:23:17,560 Speaker 6: He was talking like he is already the candidate for 445 00:23:17,680 --> 00:23:20,800 Speaker 6: the Republicans. He's pivoting to the general. So you know, 446 00:23:20,960 --> 00:23:23,440 Speaker 6: it may be a last stand for Ronde Santis. And 447 00:23:23,760 --> 00:23:27,360 Speaker 6: ouch the swipe that McCarthy took, I've served with them 448 00:23:27,400 --> 00:23:29,639 Speaker 6: and he's not up to par I mean, you know, 449 00:23:29,800 --> 00:23:32,880 Speaker 6: it was ugly all around for Ronde Santis this weekend, 450 00:23:33,119 --> 00:23:36,600 Speaker 6: not something he should have weighed in on. And you know, 451 00:23:36,760 --> 00:23:41,280 Speaker 6: just getting hit down by the House speaker got less. 452 00:23:41,080 --> 00:23:41,600 Speaker 2: Than a minute. 453 00:23:41,640 --> 00:23:45,040 Speaker 3: Rick Will Kevin McCarthy then be the undoing of the 454 00:23:45,119 --> 00:23:46,200 Speaker 3: DeSantis campaign. 455 00:23:47,600 --> 00:23:50,320 Speaker 7: No, I think the DeSantis campaign is being undone by 456 00:23:50,400 --> 00:23:54,000 Speaker 7: DeSantis himself. Nobody can take that award away from him. 457 00:23:54,800 --> 00:23:57,520 Speaker 3: Well, that's saying something there. It is from a master 458 00:23:57,840 --> 00:24:02,160 Speaker 3: in campaigning, Rick Davis, Dany Shanzano. We thank you as 459 00:24:02,160 --> 00:24:05,440 Speaker 3: we turn to news next about this prisoner swap with Iran. 460 00:24:06,000 --> 00:24:09,160 Speaker 3: This is highly controversial, but one that coincides with President 461 00:24:09,160 --> 00:24:13,080 Speaker 3: Biden's arrival at the United Nations General Assembly in New York, 462 00:24:13,520 --> 00:24:16,199 Speaker 3: and of course precedes a speech and only from a 463 00:24:16,240 --> 00:24:19,199 Speaker 3: President Biden, but of course the leader of Iran at 464 00:24:19,280 --> 00:24:20,200 Speaker 3: that event as well. 465 00:24:22,960 --> 00:24:26,480 Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch us 466 00:24:26,520 --> 00:24:29,679 Speaker 1: Live weekdays at one Eastern on Bloomberg dot Com, the 467 00:24:29,760 --> 00:24:32,800 Speaker 1: iHeartRadio app, and the Bloomberg Business app, or listen on 468 00:24:32,920 --> 00:24:35,920 Speaker 1: demand wherever you get your podcast. 469 00:24:36,520 --> 00:24:40,439 Speaker 3: Important news as President Biden begins his visit to the 470 00:24:40,600 --> 00:24:43,639 Speaker 3: United Nations General Assembly this week in New York. The 471 00:24:43,680 --> 00:24:46,879 Speaker 3: news is not from New York, but oversees five Americans 472 00:24:46,920 --> 00:24:50,680 Speaker 3: freed in Iran prisoner's swap Landing cut Her the headline 473 00:24:50,680 --> 00:24:54,119 Speaker 3: on the terminal A remarkable moment. Whether you agree with 474 00:24:54,160 --> 00:24:57,320 Speaker 3: this or not, imagine their thoughts as these five Americans 475 00:24:57,359 --> 00:25:00,760 Speaker 3: walked onto the ramp in one hundred four degree fahrenheit 476 00:25:01,440 --> 00:25:07,000 Speaker 3: late Monday in Doha. Secretary of State Anthony Blincoln spoke 477 00:25:07,040 --> 00:25:08,080 Speaker 3: a short time later. 478 00:25:08,520 --> 00:25:11,119 Speaker 11: Just a few minutes ago, I had the great pleasure 479 00:25:11,200 --> 00:25:16,760 Speaker 11: of speaking to seven Americans who are now free, free 480 00:25:16,800 --> 00:25:21,000 Speaker 11: from their imprisonment or detention in Iran, out of Iran, 481 00:25:21,880 --> 00:25:26,080 Speaker 11: out of prison, and now in Doha route back to 482 00:25:26,080 --> 00:25:29,000 Speaker 11: the United States to be reunited. 483 00:25:28,520 --> 00:25:29,320 Speaker 2: With their loved ones. 484 00:25:30,600 --> 00:25:33,200 Speaker 11: Five of the seven, of course, had been unjustly detained 485 00:25:33,560 --> 00:25:38,560 Speaker 11: imprisoned in Iran for years. Two others had been prevented 486 00:25:38,560 --> 00:25:39,320 Speaker 11: from leaving Iran. 487 00:25:41,080 --> 00:25:43,040 Speaker 3: You've seen that shot of the tarmac. If you're with 488 00:25:43,160 --> 00:25:46,080 Speaker 3: us watching today on YouTube, you can do that always 489 00:25:46,080 --> 00:25:48,960 Speaker 3: now on Bloomberg sound on, get to YouTube, search Bloomberg 490 00:25:49,000 --> 00:25:52,000 Speaker 3: Global News and join us here in studio. 491 00:25:52,119 --> 00:25:52,280 Speaker 2: Now. 492 00:25:52,280 --> 00:25:54,720 Speaker 3: As part of the swap, the administration here is releasing 493 00:25:54,720 --> 00:25:59,160 Speaker 3: five Iranians held at US custody. The most controversial element, though, 494 00:25:59,160 --> 00:26:01,440 Speaker 3: is the money here about this likely by now six 495 00:26:01,480 --> 00:26:04,399 Speaker 3: billion dollars in oil revenue that had been frozen in 496 00:26:04,440 --> 00:26:09,440 Speaker 3: South Korean banks due to sanctions now unlocked. Let's reassemble 497 00:26:09,480 --> 00:26:11,119 Speaker 3: our panel for their take on this. Rick Davis and 498 00:26:11,200 --> 00:26:14,679 Speaker 3: Jeanie Shanzano, Bloomberg Politics contributors, Genie, was this all worth it? 499 00:26:16,200 --> 00:26:19,000 Speaker 6: You know, you look at these people and they've suffered 500 00:26:19,160 --> 00:26:22,639 Speaker 6: in one of the most notorious prisons in Iran for many, 501 00:26:22,680 --> 00:26:25,760 Speaker 6: many years, in some cases Evan Prison, and you know, 502 00:26:25,800 --> 00:26:28,000 Speaker 6: your heart goes out to them. You're so happy for 503 00:26:28,080 --> 00:26:30,320 Speaker 6: their families. They seem to be in good health. That 504 00:26:30,480 --> 00:26:33,520 Speaker 6: is all a very positive thing. But I think the 505 00:26:33,560 --> 00:26:36,359 Speaker 6: concerns on the flip side are very real. From a 506 00:26:36,400 --> 00:26:40,080 Speaker 6: policy perspective. The United States has had this challenge which 507 00:26:40,240 --> 00:26:44,760 Speaker 6: with Iran since its inception in nineteen seventy nine. We 508 00:26:44,880 --> 00:26:48,399 Speaker 6: have had many exchanges before. But let's be very clear, 509 00:26:48,680 --> 00:26:51,080 Speaker 6: and I think one thing, one very small thing the 510 00:26:51,119 --> 00:26:53,800 Speaker 6: administration could do is change its language. This is not 511 00:26:53,880 --> 00:26:58,400 Speaker 6: a prisoner swap. The Americans held were given sham trials. 512 00:26:58,480 --> 00:27:01,399 Speaker 6: They were not prisoners. The people held here that are 513 00:27:01,440 --> 00:27:05,280 Speaker 6: being released, the Iranians, they were given a fair trial. 514 00:27:05,640 --> 00:27:07,800 Speaker 6: So it is, you know, not as if it is 515 00:27:07,920 --> 00:27:14,560 Speaker 6: a prisoner swap. The Americans held were held, excuse me, unjustly, 516 00:27:14,880 --> 00:27:16,800 Speaker 6: and so that is one very small thing. But I 517 00:27:16,840 --> 00:27:19,680 Speaker 6: do think the concerns are very real about the use 518 00:27:19,720 --> 00:27:22,479 Speaker 6: of this six billion dollars. You know, Iran has been 519 00:27:22,600 --> 00:27:25,640 Speaker 6: very clear they won't just restrict it to humanitarian reasons, 520 00:27:25,960 --> 00:27:28,600 Speaker 6: and I am a firm believer that we have to 521 00:27:28,600 --> 00:27:30,600 Speaker 6: have a set out policy on that, and we have 522 00:27:30,840 --> 00:27:33,800 Speaker 6: not as it pertains to these activities that have been 523 00:27:33,800 --> 00:27:36,159 Speaker 6: going on long before Biden came into office. 524 00:27:37,600 --> 00:27:39,760 Speaker 3: Rick, I want to read you a statement from Senators 525 00:27:39,760 --> 00:27:42,800 Speaker 3: Head Cruz, of course serves on the Senate Foreign Relations Committee. 526 00:27:42,840 --> 00:27:43,040 Speaker 2: Quote. 527 00:27:43,080 --> 00:27:46,760 Speaker 3: President Biden has established a secret nuclear deal with the 528 00:27:46,800 --> 00:27:50,119 Speaker 3: Iranian regime, he writes, that is being kept from Congress 529 00:27:50,640 --> 00:27:54,080 Speaker 3: and the American people. Today's news, he says, confirms there 530 00:27:54,080 --> 00:27:57,040 Speaker 3: has already been a side deal, including a six billion 531 00:27:57,080 --> 00:28:00,639 Speaker 3: dollar ransom and the release of Iranian operatives. 532 00:28:01,800 --> 00:28:02,320 Speaker 2: Is he right? 533 00:28:04,480 --> 00:28:07,880 Speaker 7: We have no idea of what Teddy Cruz says is 534 00:28:07,920 --> 00:28:11,200 Speaker 7: true or not. There's no evidence that there is a deal, 535 00:28:12,280 --> 00:28:15,320 Speaker 7: And if there were a deal, why wouldn't it be public. 536 00:28:16,160 --> 00:28:18,400 Speaker 7: I doubt if anybody in the White House could think 537 00:28:18,440 --> 00:28:23,200 Speaker 7: that they could keep an Iranian nuclear deal secret, especially 538 00:28:23,240 --> 00:28:26,000 Speaker 7: through an election year, So I discount that. But I 539 00:28:26,080 --> 00:28:30,600 Speaker 7: think he is right to question the use of frozen 540 00:28:30,800 --> 00:28:35,640 Speaker 7: Iranian funds to pay for the release. We all celebrate 541 00:28:35,680 --> 00:28:40,000 Speaker 7: the release of these individuals. One mister Nemazi had been 542 00:28:40,520 --> 00:28:44,400 Speaker 7: in a horrible prison for you know, almost three thousand days. 543 00:28:44,480 --> 00:28:48,280 Speaker 7: I mean, that's as outrageous. And the conduct of the 544 00:28:48,320 --> 00:28:53,000 Speaker 7: Iranian regime is to blame nobody else. And so it's 545 00:28:53,000 --> 00:28:55,240 Speaker 7: a good thing that they're they're coming home, and it's 546 00:28:55,240 --> 00:28:58,080 Speaker 7: a good thing that that that they're being greeted with 547 00:28:58,160 --> 00:29:02,240 Speaker 7: a fanfare by Americans because we can't allow the Iranians 548 00:29:02,280 --> 00:29:07,360 Speaker 7: to dictate fairness. And that being said, Iran has turned 549 00:29:07,480 --> 00:29:10,720 Speaker 7: hostage taking into a commercial enterprise, and we have to 550 00:29:10,760 --> 00:29:13,360 Speaker 7: find ways as a government to not fall prey to that. 551 00:29:13,600 --> 00:29:17,200 Speaker 7: Right now, if you're an American in Iran, you're a 552 00:29:17,280 --> 00:29:20,640 Speaker 7: high value hostage because they know that they can get 553 00:29:20,680 --> 00:29:25,880 Speaker 7: something from our administration for it. And that's Republicans and 554 00:29:25,920 --> 00:29:29,280 Speaker 7: Democrats alike. Nobody wants hostages to remain in that god 555 00:29:29,320 --> 00:29:32,120 Speaker 7: forsaken place. So we need a new policy, We need 556 00:29:32,160 --> 00:29:36,840 Speaker 7: something that we can adhere to. And thank god they're back, 557 00:29:37,200 --> 00:29:39,280 Speaker 7: but it gives us time now to really think through 558 00:29:39,680 --> 00:29:41,560 Speaker 7: how to approach this regime in the future. 559 00:29:42,560 --> 00:29:45,000 Speaker 3: Well, let's talk to your Genie that this move paves 560 00:29:45,040 --> 00:29:49,760 Speaker 3: the way for talks over Iran's nuclear program. Is that 561 00:29:49,840 --> 00:29:52,000 Speaker 3: the end goal or was this just a matter of 562 00:29:52,000 --> 00:29:52,800 Speaker 3: getting people home? 563 00:29:53,960 --> 00:29:57,560 Speaker 6: Yeah? I mean, the administration has denied any connection between 564 00:29:57,640 --> 00:29:59,479 Speaker 6: the two, but there is, to your point, a lot 565 00:29:59,520 --> 00:30:03,160 Speaker 6: of specula that in reality there is a tie. You know, 566 00:30:03,360 --> 00:30:06,360 Speaker 6: I think talks would be a very good thing, and 567 00:30:06,440 --> 00:30:10,280 Speaker 6: any communication on Iran's nuclear capacity would be a good thing. 568 00:30:10,800 --> 00:30:13,200 Speaker 6: But you know, I don't think we know the veracity 569 00:30:13,240 --> 00:30:16,240 Speaker 6: of whether, in fact that's the case. I do go 570 00:30:16,400 --> 00:30:18,920 Speaker 6: back to the fact we do need a policy. You know, 571 00:30:19,400 --> 00:30:22,560 Speaker 6: I was just talking to somebody about James Foley, and 572 00:30:22,640 --> 00:30:26,800 Speaker 6: you remember this story. Well, we don't negotiate with terrorists, 573 00:30:26,840 --> 00:30:29,560 Speaker 6: and yet in the case of Russia, who the President 574 00:30:29,680 --> 00:30:33,160 Speaker 6: describes as a terrorist government in many respects, and Iran, 575 00:30:33,520 --> 00:30:37,560 Speaker 6: we do negotiate. And so to the families of these hostages, 576 00:30:37,600 --> 00:30:40,600 Speaker 6: and they are hostages. The question is when do we 577 00:30:40,760 --> 00:30:43,320 Speaker 6: and when don't we as a government negotiate. We have 578 00:30:43,400 --> 00:30:47,080 Speaker 6: no clarity on that from the US government. And again 579 00:30:47,120 --> 00:30:51,280 Speaker 6: this proceeds Joe Biden by many, many years, if not decades. 580 00:30:51,600 --> 00:30:54,920 Speaker 6: We do need to come to some kind of policy 581 00:30:55,000 --> 00:30:58,360 Speaker 6: agreement and consensus on that we don't want to risk 582 00:30:58,400 --> 00:31:02,040 Speaker 6: that we incentivize the cap of Americans traveling. And as 583 00:31:02,080 --> 00:31:05,120 Speaker 6: one of this Republican senator said over the weekend, people 584 00:31:05,160 --> 00:31:07,560 Speaker 6: need to be very careful about traveling to Iran at 585 00:31:07,560 --> 00:31:10,160 Speaker 6: this point, it is a very dangerous situation. 586 00:31:11,360 --> 00:31:14,360 Speaker 3: Now we've just learned the President held what's being described 587 00:31:14,400 --> 00:31:17,640 Speaker 3: as an emotional call with the families of the American 588 00:31:17,680 --> 00:31:19,800 Speaker 3: citizens returning home to. 589 00:31:19,800 --> 00:31:21,160 Speaker 2: The US from Iran. 590 00:31:21,240 --> 00:31:23,480 Speaker 3: And while we can talk about the controversy here and 591 00:31:23,520 --> 00:31:26,960 Speaker 3: we will continue to certainly depending on how this plays out, 592 00:31:27,000 --> 00:31:29,200 Speaker 3: I think what Rick said is important, and that's obviously 593 00:31:29,720 --> 00:31:32,680 Speaker 3: all of us are relieved to see these folks get home. 594 00:31:32,720 --> 00:31:36,320 Speaker 3: Anthony Blinkn referring earlier to the emotional conversation that he 595 00:31:36,440 --> 00:31:39,480 Speaker 3: had with them as well and what must. 596 00:31:39,400 --> 00:31:40,560 Speaker 2: Be going through their minds. 597 00:31:40,720 --> 00:31:43,720 Speaker 3: I'm Joe Matthew in Washington with analysis from Rick Davis 598 00:31:43,720 --> 00:31:44,680 Speaker 3: and Jeanie Shanzano. 599 00:31:45,000 --> 00:31:45,760 Speaker 2: This is sound On. 600 00:31:45,840 --> 00:31:48,120 Speaker 3: We do this every day from Washington, the fastest show 601 00:31:48,120 --> 00:31:48,760 Speaker 3: in politics. 602 00:31:54,600 --> 00:31:57,960 Speaker 1: If you're listening to the Bloomberg Sound On podcast, catch 603 00:31:58,040 --> 00:31:59,920 Speaker 1: the program live weekdays at one. 604 00:32:00,680 --> 00:32:04,080 Speaker 2: On Bloomberg Radio. The tune in app Bloomberg dot Com and. 605 00:32:04,080 --> 00:32:05,440 Speaker 5: The Bloomberg Business App. 606 00:32:05,560 --> 00:32:08,400 Speaker 1: You can also listen live on Amazon Alexa from our 607 00:32:08,440 --> 00:32:12,920 Speaker 1: flagship New York station. Just say Alexa play Bloomberg eleven thirty. 608 00:32:15,000 --> 00:32:17,840 Speaker 3: I'm Joe Matthew now joined by Kaylee Lines here in 609 00:32:17,880 --> 00:32:21,480 Speaker 3: the Bloomberg Washington DC Bureau. Good to see you as 610 00:32:21,560 --> 00:32:23,520 Speaker 3: we pick up a new week with the same issue 611 00:32:23,520 --> 00:32:26,000 Speaker 3: as we ended the last week with. And by that 612 00:32:26,080 --> 00:32:28,440 Speaker 3: I mean day four on the strike yep, or I 613 00:32:28,440 --> 00:32:32,880 Speaker 3: guess third full day we're saying, technically and a deal 614 00:32:33,040 --> 00:32:36,680 Speaker 3: on the budget, just no celebration yet. 615 00:32:36,760 --> 00:32:38,600 Speaker 2: This is pretty interesting now. We talked about it with 616 00:32:38,640 --> 00:32:39,480 Speaker 2: the panel last hour. 617 00:32:39,560 --> 00:32:43,480 Speaker 3: Main Street Caucus, Freedom Caucus, Right, cats and Dogs living together? 618 00:32:43,880 --> 00:32:46,840 Speaker 2: Eight percent budget cut. But can they pass it? 619 00:32:47,280 --> 00:32:50,240 Speaker 12: This is the question. And when we say Freedom Caucus, 620 00:32:50,280 --> 00:32:52,760 Speaker 12: we aren't really talking about the whole Freedom Caucus who 621 00:32:52,760 --> 00:32:54,720 Speaker 12: has agreed to this, because you already have a number 622 00:32:54,720 --> 00:32:57,160 Speaker 12: of those members who said they would vote no to 623 00:32:57,200 --> 00:33:00,840 Speaker 12: this agreement between these two different factions obviously one far right, 624 00:33:01,000 --> 00:33:04,160 Speaker 12: one more center right. What they agreed to also include 625 00:33:04,200 --> 00:33:06,160 Speaker 12: some measures that would pretty much make it debt on 626 00:33:06,240 --> 00:33:09,000 Speaker 12: arrival in a Democratic controlled Senate, Whether it relates to 627 00:33:09,040 --> 00:33:13,320 Speaker 12: the border, an asylum granted to migrants, constructing the border wall, 628 00:33:13,360 --> 00:33:15,480 Speaker 12: those deep spending cuts that they probably aren't gonna like. 629 00:33:15,520 --> 00:33:18,080 Speaker 12: And there's nothing in there for Ukraine or disaster relief 630 00:33:18,120 --> 00:33:19,200 Speaker 12: that the President has asked for. 631 00:33:19,680 --> 00:33:23,320 Speaker 2: Maybe just put this straight back to me. So we've 632 00:33:23,320 --> 00:33:25,480 Speaker 2: seen this movie before. It feels like, yeah, there was 633 00:33:25,520 --> 00:33:26,080 Speaker 2: a great. 634 00:33:26,280 --> 00:33:30,400 Speaker 3: Headline on the terminal government funding fight. This is bloomberg 635 00:33:30,440 --> 00:33:34,280 Speaker 3: government now government funding fight, just round two of the 636 00:33:34,320 --> 00:33:35,280 Speaker 3: debt ceiling brawl. 637 00:33:35,720 --> 00:33:36,560 Speaker 2: Ain't that the truth? 638 00:33:36,640 --> 00:33:37,880 Speaker 12: Deja vous all over again? 639 00:33:38,000 --> 00:33:38,120 Speaker 2: Right? 640 00:33:39,040 --> 00:33:41,280 Speaker 3: This is why we talked to Mick mulvaney every week, 641 00:33:42,400 --> 00:33:44,960 Speaker 3: because there's always an update on this stuff and mix 642 00:33:45,040 --> 00:33:47,440 Speaker 3: ben there on both sides of it. Capitol Hill of 643 00:33:47,440 --> 00:33:50,160 Speaker 3: the White House even ran the budget. So we've got 644 00:33:50,160 --> 00:33:52,240 Speaker 3: some stuff for Mick mulvaney today. It's great to have 645 00:33:52,280 --> 00:33:55,880 Speaker 3: you back. Make of course, former OMB director, former member 646 00:33:55,960 --> 00:33:59,240 Speaker 3: of Congress who co founded the Freedom Caucus. Every time 647 00:34:00,240 --> 00:34:04,120 Speaker 3: McCarthy seems to think he's got a deal together here, Mick, 648 00:34:04,200 --> 00:34:06,280 Speaker 3: it's just a couple of noisy members of that Freedom 649 00:34:06,320 --> 00:34:08,759 Speaker 3: Caucus who burst the balloon. Is this actually going to 650 00:34:08,800 --> 00:34:09,920 Speaker 3: get a vote on Thursday? 651 00:34:10,840 --> 00:34:12,920 Speaker 10: Hey, Joe, Hey, Gayley, the more things changed, the more 652 00:34:12,960 --> 00:34:16,719 Speaker 10: they stay the same, it seems. Look, and the difficulty 653 00:34:16,719 --> 00:34:18,719 Speaker 10: of God is is just mass right. He's got a 654 00:34:19,200 --> 00:34:22,040 Speaker 10: maybe a four seat, maybe a five seat margin depending 655 00:34:22,080 --> 00:34:24,320 Speaker 10: on who shows up or you know, who quits between 656 00:34:24,320 --> 00:34:25,640 Speaker 10: now and the end of the week, or who gets 657 00:34:25,760 --> 00:34:27,399 Speaker 10: you know, thrown in jail. I don't know what's going 658 00:34:27,440 --> 00:34:30,399 Speaker 10: on with some of these members. Then when you've got 659 00:34:30,400 --> 00:34:34,000 Speaker 10: to margin that narrow, any four or five folks can 660 00:34:34,360 --> 00:34:36,239 Speaker 10: throw a monkey wrench in. And that's exactly what you 661 00:34:36,280 --> 00:34:39,360 Speaker 10: see happening. I was stunned by the way that the 662 00:34:39,400 --> 00:34:40,960 Speaker 10: main street folks and some of the right way folks 663 00:34:40,960 --> 00:34:42,800 Speaker 10: are able to come to a deal. I was impressed. 664 00:34:42,800 --> 00:34:47,040 Speaker 10: That's pretty good work. And if that doesn't satisfy everybody, 665 00:34:47,080 --> 00:34:49,480 Speaker 10: then the chances of getting anything out of the House 666 00:34:50,320 --> 00:34:55,719 Speaker 10: just on Republican votes probably isn't very good at all. 667 00:34:55,960 --> 00:34:58,840 Speaker 12: Yeah, And of course this is something that Speaker McCarthy 668 00:34:58,840 --> 00:35:00,920 Speaker 12: would like to avoid eventually, even if he can get 669 00:35:00,960 --> 00:35:02,560 Speaker 12: it through the House, he doesn't want to see a 670 00:35:02,600 --> 00:35:04,400 Speaker 12: government shut down. Take a list and mick to what 671 00:35:04,440 --> 00:35:06,760 Speaker 12: he said on one of the Sunday shows on Fox 672 00:35:07,080 --> 00:35:07,840 Speaker 12: over the weekend. 673 00:35:08,120 --> 00:35:10,960 Speaker 8: A shutdown would only give strength to the Democrats, it 674 00:35:11,000 --> 00:35:13,360 Speaker 8: would give the power to Biden. It wouldn't pay our troops, 675 00:35:13,360 --> 00:35:15,400 Speaker 8: it wouldn't pay our border agents. More people would be 676 00:35:15,480 --> 00:35:18,000 Speaker 8: coming across. I actually want to achieve something. 677 00:35:19,760 --> 00:35:21,640 Speaker 12: He wants to achieve something. And he went on to 678 00:35:21,640 --> 00:35:24,680 Speaker 12: say Mick that a shutdown would just weaken the Republican's hand, 679 00:35:24,880 --> 00:35:28,000 Speaker 12: would it We can speaker McCarthy's hand most of all. 680 00:35:29,239 --> 00:35:31,920 Speaker 10: You know, actually no, I'll give you the counter on 681 00:35:31,960 --> 00:35:34,520 Speaker 10: that one. I think that you sort of get the 682 00:35:34,520 --> 00:35:36,799 Speaker 10: sense I spent all last week in Washington last We're 683 00:35:36,840 --> 00:35:39,560 Speaker 10: talking to folks across the spectrum, and you sort of 684 00:35:39,560 --> 00:35:41,759 Speaker 10: get the impression that the middle of the party. I'm 685 00:35:41,800 --> 00:35:43,560 Speaker 10: not talking about the main street folks. I'm not talking 686 00:35:43,560 --> 00:35:46,120 Speaker 10: about the Republican Study Committee, which sort of leans right, 687 00:35:46,280 --> 00:35:48,480 Speaker 10: or even the Freedom Caucus people that are okay with 688 00:35:48,920 --> 00:35:53,160 Speaker 10: perhaps this deal. Again, this is not a Freedom Caucus mutiny. 689 00:35:52,920 --> 00:35:55,440 Speaker 10: It's a small group of people the Freedom Caucus at 690 00:35:55,480 --> 00:35:58,399 Speaker 10: any time as roughly maybe forty members, and you need 691 00:35:58,400 --> 00:36:01,160 Speaker 10: about eighty percent of those to take an official position, 692 00:36:01,200 --> 00:36:03,960 Speaker 10: and nowhere near that. This is a rump group with 693 00:36:04,320 --> 00:36:06,280 Speaker 10: ra happy to be Freedom Caucus members. Who are causing 694 00:36:06,280 --> 00:36:09,279 Speaker 10: all the difficulty, And honestly, I think the more unreasonable 695 00:36:09,360 --> 00:36:12,360 Speaker 10: they are being, the more it helps Kevin and that 696 00:36:12,560 --> 00:36:14,840 Speaker 10: sooner or later, and it maybe I think after a 697 00:36:14,840 --> 00:36:18,200 Speaker 10: shutdown you might see an overwhelming number of Republicans go 698 00:36:18,280 --> 00:36:21,120 Speaker 10: to Kevin and say, it's okay with us if you 699 00:36:21,200 --> 00:36:23,719 Speaker 10: start talking to Democrats about things that are reasonable, because 700 00:36:23,719 --> 00:36:26,279 Speaker 10: it's the only way we're going to pass anything, And that, 701 00:36:26,880 --> 00:36:31,160 Speaker 10: if it happens, might actually strengthen Kevin and really undermine 702 00:36:31,200 --> 00:36:33,799 Speaker 10: these these five to ten folks who just say, note 703 00:36:33,800 --> 00:36:36,120 Speaker 10: everything at this point interesting. 704 00:36:36,160 --> 00:36:38,720 Speaker 3: So that would unlock a little bit of negotiating across 705 00:36:38,719 --> 00:36:41,600 Speaker 3: the aisle in that world, make at least the Phonic 706 00:36:41,680 --> 00:36:45,360 Speaker 3: described this as a good place. She said, House Republicans 707 00:36:45,360 --> 00:36:47,239 Speaker 3: are in a good place right now. We've got a deal. 708 00:36:47,280 --> 00:36:50,840 Speaker 3: When she was asked also on Fox News Sunday, how 709 00:36:50,880 --> 00:36:55,080 Speaker 3: would you describe the place that the Republican whip. 710 00:36:54,800 --> 00:36:55,440 Speaker 2: Is in today? 711 00:36:57,960 --> 00:37:02,919 Speaker 10: Listen, I think they're the keV The meltdown last week 712 00:37:03,040 --> 00:37:07,040 Speaker 10: was was was a watershed moment. The line that Kevin 713 00:37:07,040 --> 00:37:08,440 Speaker 10: said when he said he knows just bring the F 714 00:37:08,480 --> 00:37:11,200 Speaker 10: and motion, let's let's get this over with. That's a 715 00:37:11,239 --> 00:37:13,759 Speaker 10: watershed moment, because what I think he's realized is that 716 00:37:13,880 --> 00:37:17,360 Speaker 10: Number one, he's never going to satisfy everybody in the caucus, 717 00:37:17,360 --> 00:37:19,799 Speaker 10: and he needs to satisfy just about everybody in the 718 00:37:19,800 --> 00:37:22,520 Speaker 10: caucus to pass something with just Republican votes. But just 719 00:37:22,560 --> 00:37:25,600 Speaker 10: as importantly, I think he's realized nobody else wants the job. 720 00:37:26,520 --> 00:37:29,520 Speaker 10: Nobody else could get elected Speaker, and even if they did, 721 00:37:29,560 --> 00:37:31,600 Speaker 10: they wouldn't want the gig. And I think that actually 722 00:37:31,640 --> 00:37:34,719 Speaker 10: helps Kevin's hand because it sort of allows him to 723 00:37:34,800 --> 00:37:37,319 Speaker 10: call these folks bluff. And I think that's you saw 724 00:37:37,360 --> 00:37:40,160 Speaker 10: the opening salvo of that last week when Kevin challenged 725 00:37:40,200 --> 00:37:42,000 Speaker 10: them to bring the motion notice. By the way, they 726 00:37:42,000 --> 00:37:44,440 Speaker 10: didn't take him up on his offer that Matt Gase's 727 00:37:44,480 --> 00:37:46,800 Speaker 10: response is, you know, please bring us the appropriations bills. 728 00:37:47,040 --> 00:37:50,200 Speaker 10: And I get that, listen, I get what's causing us. 729 00:37:50,239 --> 00:37:51,719 Speaker 10: I get the anks with the spending. I get the 730 00:37:52,400 --> 00:37:53,920 Speaker 10: lack of a budget, which I think they're going to 731 00:37:53,920 --> 00:37:55,680 Speaker 10: solve this week. They're actually going to pass the top 732 00:37:55,680 --> 00:37:57,680 Speaker 10: line budget number, which is some of the things that 733 00:37:57,719 --> 00:38:01,239 Speaker 10: the phys who conserves something complaining about. Those are legit concerns, 734 00:38:01,480 --> 00:38:04,640 Speaker 10: But I think Kevin is finally realizing that the more 735 00:38:04,800 --> 00:38:07,120 Speaker 10: this small group pushes and pushes and pushes, the more 736 00:38:07,160 --> 00:38:10,359 Speaker 10: it actually helps him in strengthening his own hand. 737 00:38:11,840 --> 00:38:14,600 Speaker 12: As we talk about this small group, Mick. Over the weekend, 738 00:38:14,719 --> 00:38:18,240 Speaker 12: the House Democratic Leader Hakim Jeffries characterize what is happening 739 00:38:18,280 --> 00:38:21,279 Speaker 12: among House Republicans as a civil war. Do you think 740 00:38:21,320 --> 00:38:22,280 Speaker 12: that's an apt description? 741 00:38:23,640 --> 00:38:27,080 Speaker 10: You know? Is it any different than the internal discussions 742 00:38:27,080 --> 00:38:30,080 Speaker 10: in the Democrat Party? I mean, look, David Ignatius wrote 743 00:38:30,080 --> 00:38:32,680 Speaker 10: a piece in The Washington Post last week saying that 744 00:38:32,800 --> 00:38:35,840 Speaker 10: Joe Biden shouldn't run again and that Kamala Harris shouldn't 745 00:38:35,920 --> 00:38:38,239 Speaker 10: run either. You want to talk about a civil war? 746 00:38:38,280 --> 00:38:41,360 Speaker 10: Oh my goodness. When that outlet, with that author is 747 00:38:41,400 --> 00:38:44,680 Speaker 10: taking that position, then you know there are discussions going 748 00:38:44,719 --> 00:38:47,840 Speaker 10: on with the Democrats that are just as civil warish 749 00:38:47,920 --> 00:38:50,440 Speaker 10: as the Republican discussions are. So yeah, I don't think 750 00:38:50,480 --> 00:38:53,319 Speaker 10: the gem is wrong. But to think that it's not 751 00:38:53,400 --> 00:38:55,760 Speaker 10: like that for both parties in Washington d C. Is naive. 752 00:38:58,400 --> 00:39:00,279 Speaker 3: Look to ask you about something else that's making news 753 00:39:00,280 --> 00:39:04,240 Speaker 3: here in Washington make and that's the prisoner swap with Iran. 754 00:39:05,200 --> 00:39:07,680 Speaker 3: Some folks are very upset about this, a lot of 755 00:39:07,719 --> 00:39:10,880 Speaker 3: Republican lawmakers are criticizing President Biden. Is it's not only 756 00:39:11,280 --> 00:39:17,799 Speaker 3: a swap for five Iranian detainees Ruanian prisoners, but it's 757 00:39:17,800 --> 00:39:21,640 Speaker 3: also unlocking six billion dollars that apparently was being held 758 00:39:22,120 --> 00:39:27,240 Speaker 3: by South Korea. This is oil money apparently destined for Iran, 759 00:39:27,280 --> 00:39:29,399 Speaker 3: which says it will use it anyway it sees fit, 760 00:39:29,520 --> 00:39:32,799 Speaker 3: even though this was supposed to be for humanitarian purposes. 761 00:39:33,160 --> 00:39:37,440 Speaker 3: You spend enough time in omb to probably understand some 762 00:39:37,600 --> 00:39:41,160 Speaker 3: of the inner workings here. First of all, was this 763 00:39:41,280 --> 00:39:43,359 Speaker 3: the right move to unlock that money? And how does 764 00:39:43,360 --> 00:39:46,760 Speaker 3: the Biden administration do this without the help of Congress. 765 00:39:47,880 --> 00:39:50,640 Speaker 10: Yeah, these are tough. I mean, the prisoner swaps are 766 00:39:50,680 --> 00:39:53,640 Speaker 10: really tough because you know, we tend really not to 767 00:39:53,680 --> 00:39:56,520 Speaker 10: take people into you know, arrest people in this country 768 00:39:56,520 --> 00:39:59,400 Speaker 10: for political purposes, especially foreign citizens. Right. We don't go 769 00:39:59,440 --> 00:40:01,840 Speaker 10: often and take a Russian because we want to be 770 00:40:01,880 --> 00:40:04,319 Speaker 10: able to use that person as a as a brokering chip, 771 00:40:04,320 --> 00:40:07,160 Speaker 10: and the Russians do, and the Iranians do. It's always 772 00:40:07,160 --> 00:40:10,719 Speaker 10: difficult when we see our innocent citizens being held overseas, 773 00:40:11,000 --> 00:40:13,440 Speaker 10: and you've got to you know, I sympathize with the 774 00:40:13,480 --> 00:40:15,880 Speaker 10: Biden administration for the position they're in, we had it 775 00:40:15,920 --> 00:40:18,319 Speaker 10: from time to time. Actually, one of things that President 776 00:40:18,360 --> 00:40:20,879 Speaker 10: Trump was really really good at was these prisoner negotiations 777 00:40:20,920 --> 00:40:23,480 Speaker 10: and so forth. The difficulty with doing it the way 778 00:40:23,480 --> 00:40:25,600 Speaker 10: that the Biden administration is doing it and they're couching 779 00:40:25,600 --> 00:40:28,640 Speaker 10: in terms of money only for you know, medicine and food, 780 00:40:28,840 --> 00:40:31,720 Speaker 10: is that, as every listener of this program knows, money 781 00:40:31,760 --> 00:40:34,319 Speaker 10: is one hundred percent fungible. In fact, it is the 782 00:40:34,400 --> 00:40:37,520 Speaker 10: ultimate fungible thing, right and now, instead of having to 783 00:40:37,520 --> 00:40:40,279 Speaker 10: spend six billion dollars on food, the arrangeys be able 784 00:40:40,320 --> 00:40:42,680 Speaker 10: to take this six billion dollars and spend that six 785 00:40:42,760 --> 00:40:44,520 Speaker 10: pillion we just gave them on food and use the 786 00:40:44,560 --> 00:40:46,480 Speaker 10: six billion they were good to spend on food to 787 00:40:46,480 --> 00:40:48,880 Speaker 10: buy weapons systems, which is exactly what they mean when 788 00:40:48,920 --> 00:40:51,319 Speaker 10: they say they can spend this money every way that 789 00:40:51,320 --> 00:40:53,399 Speaker 10: they want to. But they answer your question, by the way, 790 00:40:53,440 --> 00:40:56,239 Speaker 10: deals with the abilities under the various laws that have 791 00:40:56,239 --> 00:40:58,920 Speaker 10: already been passed that we give the we give the 792 00:40:58,960 --> 00:41:00,640 Speaker 10: State Department, if we deal with already, would give the 793 00:41:00,640 --> 00:41:03,040 Speaker 10: administration a great deal of authority. It's part of the 794 00:41:03,080 --> 00:41:06,600 Speaker 10: execution of the laws. Typically speaking, if it's done properly. 795 00:41:07,200 --> 00:41:10,520 Speaker 10: It is a proper function of the executive branch of 796 00:41:10,560 --> 00:41:11,640 Speaker 10: government to cut these deals. 797 00:41:12,640 --> 00:41:15,360 Speaker 3: Interesting, well, you know Senator Ted Cruze's issue to statement. 798 00:41:15,400 --> 00:41:18,720 Speaker 3: It says President Biden has established a secret nuclear deal 799 00:41:19,120 --> 00:41:21,600 Speaker 3: with the Iranian regime that's being kept from Congress and 800 00:41:21,640 --> 00:41:25,040 Speaker 3: the American people. He says, Today's news confirms there has 801 00:41:25,120 --> 00:41:27,879 Speaker 3: already been a side deal, including a six billion dollar 802 00:41:28,200 --> 00:41:32,000 Speaker 3: ransom and the release of Iranian operatives. That is not 803 00:41:32,080 --> 00:41:34,760 Speaker 3: good politics for the White House? Is it fair language? 804 00:41:34,840 --> 00:41:35,600 Speaker 2: Ransom? 805 00:41:37,080 --> 00:41:37,440 Speaker 1: Well, it is. 806 00:41:37,480 --> 00:41:39,319 Speaker 10: Ransom, right, I mean, that's exactly what it. They took 807 00:41:39,360 --> 00:41:42,640 Speaker 10: our people and we're paying the money. It is absolutely ransom. 808 00:41:42,640 --> 00:41:44,279 Speaker 10: Like I said, this is a tough position for any 809 00:41:44,320 --> 00:41:47,160 Speaker 10: administration to be in because that type of criticism is 810 00:41:47,200 --> 00:41:49,799 Speaker 10: absolutely right. And the reason you don't like to pay 811 00:41:49,840 --> 00:41:52,279 Speaker 10: ransom is that all it does is encourage people to 812 00:41:52,440 --> 00:41:54,480 Speaker 10: do it again next time. So we used to have 813 00:41:54,480 --> 00:41:57,600 Speaker 10: a policy in this country that we didn't negotiate with terrorists. 814 00:41:57,600 --> 00:42:00,520 Speaker 10: But you know, clearly the Biden administration has done just that. 815 00:42:00,840 --> 00:42:04,000 Speaker 10: But again with its innocent Americans being held that. The 816 00:42:04,080 --> 00:42:08,200 Speaker 10: sympathy levels are very very high. I don't know where 817 00:42:08,200 --> 00:42:11,320 Speaker 10: Ted is getting this issue about a larger nuclear deal. 818 00:42:11,680 --> 00:42:14,239 Speaker 10: I think there's plenty of here to criticize without now 819 00:42:14,360 --> 00:42:16,799 Speaker 10: going that for unless he's got evidence that he's not 820 00:42:16,840 --> 00:42:19,680 Speaker 10: talking about. I'd be surprised by the way if that 821 00:42:19,680 --> 00:42:21,319 Speaker 10: had happened, It wouldn't surprise you they would do it. 822 00:42:21,719 --> 00:42:23,760 Speaker 10: I just can't see how they would do it in secret. 823 00:42:24,840 --> 00:42:27,680 Speaker 10: The Democrats have wanted a deal on I Ranyan nuclear 824 00:42:27,680 --> 00:42:30,600 Speaker 10: weapons for a long time. We tried to undo it. 825 00:42:31,640 --> 00:42:33,600 Speaker 10: But I don't know what Ted is talking about when 826 00:42:33,600 --> 00:42:37,640 Speaker 10: it comes to that. But maybe you can ask him, Mick. 827 00:42:37,719 --> 00:42:40,520 Speaker 12: While we're on the subject of foreign relations. Of course, 828 00:42:40,600 --> 00:42:42,440 Speaker 12: later on this week we're going to be looking forward 829 00:42:42,440 --> 00:42:45,600 Speaker 12: here in Washington to a visit from Ukrainian President Zelensky, 830 00:42:45,640 --> 00:42:48,080 Speaker 12: both at the White House and on Capitol Hill, and 831 00:42:48,120 --> 00:42:50,840 Speaker 12: a headline just across the Bloomberg terminal Reuters reporting that 832 00:42:50,960 --> 00:42:54,399 Speaker 12: McCarthy says he will meet with Zelensky this week. That's, 833 00:42:54,440 --> 00:42:56,560 Speaker 12: of course, as McCarthy is dealing with parts of his 834 00:42:56,640 --> 00:42:58,719 Speaker 12: Republican party in the House that would no longer like 835 00:42:58,760 --> 00:43:01,799 Speaker 12: to help Ukraine in regard to funding for the war 836 00:43:01,920 --> 00:43:06,320 Speaker 12: with Russia. When Zelenski makes the trip and please for more. 837 00:43:06,680 --> 00:43:08,520 Speaker 12: Do you think it's going to fall on deaf ears 838 00:43:08,920 --> 00:43:11,080 Speaker 12: in the house? Can mines change on this issue? 839 00:43:12,320 --> 00:43:15,160 Speaker 10: Yeah, in fact, they're already changing, not on deaf ears, 840 00:43:15,200 --> 00:43:17,000 Speaker 10: but they're going to be cynical ears. There's no question. 841 00:43:17,040 --> 00:43:19,200 Speaker 10: I think the days of writing a blank check to 842 00:43:19,320 --> 00:43:22,600 Speaker 10: Ukraine have coming gone. You've already seen the reports starting 843 00:43:22,600 --> 00:43:25,399 Speaker 10: to leak out about the lack of accountability of buy 844 00:43:25,440 --> 00:43:28,680 Speaker 10: the Ukrainians. People forget and they want to forget, especially 845 00:43:28,760 --> 00:43:30,440 Speaker 10: folks on the other side of the Aisle want to 846 00:43:30,480 --> 00:43:33,520 Speaker 10: forget because they want to just look at Ukraine in 847 00:43:33,640 --> 00:43:37,280 Speaker 10: terms of a Trump issue. But one of the reasons 848 00:43:37,280 --> 00:43:39,600 Speaker 10: that we withheld money for the Ukrainians in the first 849 00:43:39,600 --> 00:43:42,279 Speaker 10: place was because they're one of the most corrupt places 850 00:43:42,320 --> 00:43:45,800 Speaker 10: on the planet. There's actually special rules on the books 851 00:43:46,160 --> 00:43:49,600 Speaker 10: in our country about giving money to Ukraine in terms 852 00:43:49,640 --> 00:43:52,600 Speaker 10: of foreign aid. There's limitations that only apply to Ukraine 853 00:43:52,680 --> 00:43:55,239 Speaker 10: because it is so corrupt, and you're starting to see 854 00:43:55,320 --> 00:43:57,920 Speaker 10: that now come home to root. This is one of 855 00:43:57,960 --> 00:44:02,920 Speaker 10: those interesting topics that is not necessarily right down the 856 00:44:02,920 --> 00:44:06,160 Speaker 10: middle partisan. There's going to be Democrats who are interested 857 00:44:06,200 --> 00:44:08,560 Speaker 10: in in not spending more money in Ukraine. There could 858 00:44:08,560 --> 00:44:11,240 Speaker 10: be Republicans who want to be interested in not spending 859 00:44:11,239 --> 00:44:13,080 Speaker 10: more money in Ukraine. You're going to see a very 860 00:44:13,160 --> 00:44:15,759 Speaker 10: healthy debate, I think on this particular issue. I don't 861 00:44:15,760 --> 00:44:17,799 Speaker 10: think so once he comes to deaf ears, but I 862 00:44:17,800 --> 00:44:19,799 Speaker 10: don't think he comes now to folks who are willing 863 00:44:19,920 --> 00:44:21,680 Speaker 10: to write a willing to write him a blank check. 864 00:44:23,000 --> 00:44:25,040 Speaker 12: And Mick, I have one last question for you, because 865 00:44:25,040 --> 00:44:26,960 Speaker 12: when you were on the show last week, you had 866 00:44:26,960 --> 00:44:30,840 Speaker 12: some love express for Congressman Ken Buck, the Republican from Colorado, 867 00:44:30,880 --> 00:44:33,200 Speaker 12: and he on Friday published an op ed in the 868 00:44:33,280 --> 00:44:35,239 Speaker 12: Washington Post. I wanted to ask you about it's in 869 00:44:35,320 --> 00:44:37,640 Speaker 12: regard to the impeachment inquiry. And this is a quote. 870 00:44:37,800 --> 00:44:39,960 Speaker 12: Republicans in the House who are itching for an impeachment 871 00:44:40,000 --> 00:44:42,759 Speaker 12: are relying on an imagined history. He goes on to 872 00:44:42,840 --> 00:44:45,520 Speaker 12: say Trump's impeachment in twenty nineteen was a disgrace to 873 00:44:45,560 --> 00:44:49,680 Speaker 12: the Constitution and a disservice to Americans. The GOP's prize 874 00:44:49,680 --> 00:44:52,880 Speaker 12: in twenty twenty three is no better. Mack, what's your 875 00:44:52,880 --> 00:44:53,560 Speaker 12: response to that? 876 00:44:54,400 --> 00:44:54,600 Speaker 5: Sick? 877 00:44:54,719 --> 00:44:57,520 Speaker 10: Ken Buck is a really, really conservative guy. Okay, this 878 00:44:57,560 --> 00:45:01,920 Speaker 10: is some This is not somebody from the middle of 879 00:45:01,960 --> 00:45:04,040 Speaker 10: the party. This is this is a right winger. He's 880 00:45:04,040 --> 00:45:07,719 Speaker 10: saying that people should pay attention. He's also a very 881 00:45:07,800 --> 00:45:10,200 Speaker 10: thoughtful guy. He's well regarded with in the party, and 882 00:45:10,680 --> 00:45:11,880 Speaker 10: I don't know if he's right or wrong because I 883 00:45:11,920 --> 00:45:14,960 Speaker 10: haven't seen the evidence. I also encourage people to recognize 884 00:45:14,960 --> 00:45:18,680 Speaker 10: there's a difference between an impeachment inquiry and an impeachment. 885 00:45:18,719 --> 00:45:21,120 Speaker 10: People want to sort of blurred lines between those two things. 886 00:45:21,400 --> 00:45:23,799 Speaker 10: People forget there was an impeachment inquiry into Donald Trump 887 00:45:23,840 --> 00:45:27,200 Speaker 10: in twenty nineteen before there was an impeachment. And I'm 888 00:45:27,239 --> 00:45:29,719 Speaker 10: necessary I don't necessarily disagree with the decision to do 889 00:45:29,760 --> 00:45:32,319 Speaker 10: an inquiry. But when Buck is coming out and saying 890 00:45:32,360 --> 00:45:34,600 Speaker 10: that people should pay attention because he's a thoughtful person 891 00:45:34,880 --> 00:45:37,840 Speaker 10: and he might be right, you might, you know, say, look, 892 00:45:38,040 --> 00:45:40,799 Speaker 10: if we do this, then are we just as bad, 893 00:45:40,880 --> 00:45:42,840 Speaker 10: are we just as awful as a Democrats? Or is 894 00:45:42,840 --> 00:45:45,239 Speaker 10: there not a moral high ground here that we can take. 895 00:45:45,320 --> 00:45:47,920 Speaker 10: I remember back in twenty eleven and twelve, and I 896 00:45:47,960 --> 00:45:50,200 Speaker 10: came in a tea party way, there was this inkling 897 00:45:50,280 --> 00:45:52,920 Speaker 10: every now and then from back home about impeaching Barack Obama. Now, 898 00:45:52,920 --> 00:45:55,920 Speaker 10: if that's the same question, where's the high crime and misdemeanor. 899 00:45:56,160 --> 00:45:57,920 Speaker 10: Show me a high crime and misdemeanor that we have 900 00:45:57,960 --> 00:45:59,680 Speaker 10: the discussion. I think that that's the same thing you're 901 00:45:59,680 --> 00:46:01,799 Speaker 10: hearing from Ken Buck today. Show me a crime and 902 00:46:01,800 --> 00:46:02,760 Speaker 10: we'll talk about our teachers. 903 00:46:04,200 --> 00:46:05,480 Speaker 2: There you have it, from Mick Malvenny. 904 00:46:05,520 --> 00:46:08,440 Speaker 3: We thank you McK as always with us here on 905 00:46:08,480 --> 00:46:09,440 Speaker 3: Bloomberg sound On. 906 00:46:15,280 --> 00:46:17,200 Speaker 2: Thanks for listening to the sound On podcast. 907 00:46:17,280 --> 00:46:20,320 Speaker 3: Make sure to subscribe if you haven't already, at Apple, Spotify, 908 00:46:20,440 --> 00:46:22,879 Speaker 3: and anywhere else you get your podcasts, and you can 909 00:46:22,880 --> 00:46:25,919 Speaker 3: find us live every weekday from Washington, DC at one 910 00:46:25,960 --> 00:46:26,680 Speaker 3: pm Eastern 911 00:46:26,719 --> 00:46:29,520 Speaker 2: Time at Bloomberg dot com.