1 00:00:02,520 --> 00:00:15,800 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News, single best idea on 2 00:00:15,880 --> 00:00:19,239 Speaker 1: a Friday and one of the single best shows we've 3 00:00:19,280 --> 00:00:24,560 Speaker 1: ever done. A major thank you to Natalie Imparatoryly of 4 00:00:24,600 --> 00:00:29,040 Speaker 1: Manhattan College for just wonderful perspective on Rome. As we 5 00:00:29,120 --> 00:00:32,239 Speaker 1: go to a funeral this weekend. We heard from the 6 00:00:32,240 --> 00:00:36,599 Speaker 1: President leaving the White House to go to Rome, but 7 00:00:36,800 --> 00:00:39,600 Speaker 1: a lot of discussion about this world that we're living 8 00:00:39,640 --> 00:00:43,600 Speaker 1: in turned upside down. One of the features that we're 9 00:00:43,600 --> 00:00:47,199 Speaker 1: looking at is not so much the finance economics investment, 10 00:00:47,680 --> 00:00:51,840 Speaker 1: but the behavior that's out there. Matthew Hornback is Morgan Stanley, 11 00:00:51,840 --> 00:00:54,960 Speaker 1: and what's so different and wonderful about his work is 12 00:00:55,000 --> 00:00:57,880 Speaker 1: a tour of duty, a substantial tour of duty in 13 00:00:57,960 --> 00:01:02,600 Speaker 1: Tokyo for Morgan stany family a good fifteen years ago. 14 00:01:03,080 --> 00:01:07,640 Speaker 1: Right now, I think among the politicians, lots of saving 15 00:01:07,800 --> 00:01:12,080 Speaker 1: face going on here. Matthew Hornbach of Morgan Stanley on 16 00:01:12,280 --> 00:01:13,039 Speaker 1: saving face. 17 00:01:13,360 --> 00:01:17,080 Speaker 2: Ultimately, you know, saving face is about you know, being 18 00:01:17,120 --> 00:01:21,639 Speaker 2: able to you know, face face both you know your 19 00:01:21,720 --> 00:01:25,279 Speaker 2: your inner soul as well as those of your friends 20 00:01:25,319 --> 00:01:29,800 Speaker 2: and your family and your constituents, and in the end 21 00:01:30,640 --> 00:01:32,760 Speaker 2: you know you're you're trying to You're trying to do 22 00:01:32,800 --> 00:01:35,120 Speaker 2: something that you think is the right thing to do, 23 00:01:35,240 --> 00:01:39,080 Speaker 2: both for yourself and your inner morality, as well as 24 00:01:39,240 --> 00:01:41,920 Speaker 2: as well as your the people for which you serve. 25 00:01:43,000 --> 00:01:45,800 Speaker 2: I think the concept of saving face is certainly one 26 00:01:45,840 --> 00:01:49,360 Speaker 2: that you know was maybe born in Asia, but I 27 00:01:49,360 --> 00:01:52,840 Speaker 2: think is really a human concept. You're trying to do 28 00:01:52,880 --> 00:01:54,920 Speaker 2: the best thing for you and the people that you 29 00:01:54,960 --> 00:01:58,440 Speaker 2: care about, and I think for a lot of politicians 30 00:01:58,480 --> 00:02:01,440 Speaker 2: around the world, you know that that that sometimes can 31 00:02:01,480 --> 00:02:03,960 Speaker 2: be tricky. There's a lot of different constituents that you serve, 32 00:02:05,240 --> 00:02:08,560 Speaker 2: but it's a human concept more than just a concept. 33 00:02:09,200 --> 00:02:10,559 Speaker 2: On the Pacific Rim. 34 00:02:10,440 --> 00:02:13,080 Speaker 1: Nicely said, and there will be a little bit of 35 00:02:13,120 --> 00:02:16,200 Speaker 1: that moving forward here as we try to extricate ourselves 36 00:02:16,960 --> 00:02:20,760 Speaker 1: in some form some way of this moment. The interview 37 00:02:20,840 --> 00:02:23,959 Speaker 1: of the week, without question, was Scott Bessant, the Secretary 38 00:02:24,000 --> 00:02:28,320 Speaker 1: of Treasury in Washington. At theF The IIF is nothing 39 00:02:28,360 --> 00:02:30,400 Speaker 1: more than the big bank lobby group. It's just as 40 00:02:30,400 --> 00:02:34,440 Speaker 1: simple as that, and the big issues with Charles Delaara 41 00:02:34,560 --> 00:02:36,880 Speaker 1: ran it for years and Tim Adams came in and 42 00:02:36,919 --> 00:02:41,240 Speaker 1: has done a phenomenal job providing leadership and messaging for 43 00:02:41,720 --> 00:02:44,840 Speaker 1: the group. He was the one who interviewed Scott Bessant 44 00:02:45,560 --> 00:02:51,280 Speaker 1: at this important speech. Here's Timothy Adams of THEIF on 45 00:02:51,680 --> 00:02:52,959 Speaker 1: the moment at end. 46 00:02:53,480 --> 00:02:55,720 Speaker 3: Well, if you remember Bush forty one, who I worked 47 00:02:55,720 --> 00:02:57,800 Speaker 3: for as a young White House staffer, talked about a 48 00:02:57,840 --> 00:03:00,240 Speaker 3: kinder Jendler country, and I think that's true. I had 49 00:03:00,240 --> 00:03:02,440 Speaker 3: the honor working for Bush forty three as well, and 50 00:03:02,480 --> 00:03:05,960 Speaker 3: they believe it in real decorum. Look, I think there 51 00:03:05,960 --> 00:03:07,560 Speaker 3: are a lot of people across the country trying to 52 00:03:07,560 --> 00:03:09,440 Speaker 3: figure out which of the two boxes they fit in. 53 00:03:09,639 --> 00:03:11,799 Speaker 3: I just would like to find a party that wants 54 00:03:11,880 --> 00:03:15,000 Speaker 3: to be pro growth, pro business, pro capital formation, pro 55 00:03:15,120 --> 00:03:17,560 Speaker 3: risk taking, that believes in trade. As I said, We've 56 00:03:17,560 --> 00:03:19,760 Speaker 3: got two hundred and fifty years of experience that trade 57 00:03:19,800 --> 00:03:23,400 Speaker 3: actually makes us wealthier. So that's what I'm looking for. 58 00:03:23,480 --> 00:03:25,640 Speaker 3: And you know, there's no reason why the Republican Party 59 00:03:25,680 --> 00:03:28,120 Speaker 3: can't offer that or the Democratic Party. Right now, I 60 00:03:28,120 --> 00:03:30,160 Speaker 3: think the Democratic Party is a bit lost, but there's 61 00:03:30,200 --> 00:03:32,320 Speaker 3: an opportunity to reinvent themselves. 62 00:03:32,760 --> 00:03:35,720 Speaker 1: Tim Adams, with a charge for the week, for the year, 63 00:03:36,000 --> 00:03:40,320 Speaker 1: and maybe into twenty twenty six as well. We are 64 00:03:40,360 --> 00:03:43,600 Speaker 1: in your commute across America. Thank you so much for 65 00:03:43,680 --> 00:03:46,440 Speaker 1: your interest, for getting in some of the numbers, and 66 00:03:46,520 --> 00:03:50,400 Speaker 1: your interests for this crisis, and we're really humbled by 67 00:03:50,440 --> 00:03:54,400 Speaker 1: the growth of the audience in this historic moment. We're 68 00:03:54,400 --> 00:03:59,480 Speaker 1: out on YouTube, at Bloomberg Podcasts subscribe, and at YouTube 69 00:03:59,480 --> 00:04:07,440 Speaker 1: podcast This is single best idea