Speaker 1: Live from the Bloomberg Interactive Brokers Studios. This is Bloomberg
Speaker 1: day Break for Friday, March thirty. First coming up today.
Speaker 1: For the first time ever, a former US president has
Speaker 1: been indicted. Donald Trump could be arraigned on charges as
Speaker 1: early as Tuesday. The former president calls it political persecution
Speaker 1: and election interference, and we have complete team coverage. Straight ahead,
Speaker 1: the NYPD searches for those responsible for drugging robbery victims,
Speaker 1: plus protesters fact the Tennessee capital after the Nashville school shooting.
Speaker 1: I'm Michael barn Far ahead, I'm Dom statown Swards Opening
Speaker 1: Day wins with the Meds and Yankees, The Devil stopped
Speaker 1: the Rangers. That Nick's play in Cleveland tonight. That's all
Speaker 1: straight ahead on Bloomberg day Break, The business news you
Speaker 1: need disturn your day, and just one fifteen minute podcast
Speaker 1: each pointing on Apples, Spotify, the Bloomberg Business app and
Speaker 1: everywhere you get your podcasts. Good morning, I'm Nathan Hager
Speaker 1: and I'm Cameron Moscow. Here are the stories we're following today.
Speaker 1: It is a historic moment in American politics and law.
Speaker 1: For the first time ever, a former US president is
Speaker 1: facing criminal charges. A grand jury in Manhattan is going
Speaker 1: ahead with a case against Donald Trump over hush payments
Speaker 1: to a porn star during the twenty sixteen campaign. We
Speaker 1: have team coverage for you this morning, beginning with Bloomberg
Speaker 1: Politics contributor Jeanie she and Zano. She says this will
Speaker 1: add fuel to a twenty twenty four campaign for Trump
Speaker 1: that is already driven by grievance. His message has always
Speaker 1: been not just that he's a victim, but that his
Speaker 1: supporters are a victim, that this is a witch hunt
Speaker 1: not just against him, but of them. And he always says,
Speaker 1: if they can do this to me, they'll do this
Speaker 1: to you. Bloomberg Politics contributor Geanie Sheanzano and former federal
Speaker 1: prosecutor Robert Mintz says this is a big political gamble
Speaker 1: for Manhattan's District Attorney Alvin Bragg. As a prosecutor, you
Speaker 1: better have all your ducks lined up, all your facts,
Speaker 1: all your witnesses that into place before you bring that indictment.
Speaker 1: On the other hand, they are racing against the political
Speaker 1: clock because they are not unmindful of the fact that
Speaker 1: there is an election coming up. Robert mans with the
Speaker 1: law firm McCarter in English. Former President Trump's lawyer says
Speaker 1: his client could be arraigned as early as Tuesday. Well, Nathan,
Speaker 1: just moments after the news broke, the former president came
Speaker 1: out with a statement blasting the indictment, and we get
Speaker 1: details from Bloomberg's Jeff Bellinger. The former president came out
Speaker 1: swinging when he learned of the indictment. Trump said Manhattan
Speaker 1: District Attorney Alvin Bragg is behind a political witch hunt,
Speaker 1: and he called the indictment quote political persecution and election
Speaker 1: interference at the highest level in history. He went on
Speaker 1: to say, quoting again, the American people realize exactly what
Speaker 1: the radical left Democrats are doing here. Trump's attorney says
Speaker 1: the former president plans to appear before New York authorities.
Speaker 1: He has not been told about the specific charges. Jeff Bellinger,
Speaker 1: Bloomberg day Break, Thank you, Jeff, And already Mike Pence
Speaker 1: is weighing in on the news. The former Vice president
Speaker 1: tells CNN he thinks the prosecution of former President Trump
Speaker 1: is politically motivated, and Bloomberg's d Baxter continues our team coverage.
Speaker 1: Penn says, Manhattan DA Alvin Bragg ran on prosecuting Donald
Speaker 1: Trump and a long time since I was in law school.
Speaker 1: But I remember the old saying, you can indict a
Speaker 1: ham Sandwich right the threshold. The burden of proof is
Speaker 1: very low. Prosecutors make decisions, discretionary decisions about what they
Speaker 1: bring all the time. Pence also says he will decide
Speaker 1: on whether to testify on the classified document in January
Speaker 1: six investigations in the next few days. In San Francisco,
Speaker 1: I'm at Baxter Bloomberg Daybreak, all right, and thanks. So
Speaker 1: we're also getting reaction from Capitol Hill as lawmakers worry
Speaker 1: about the potential for violence in the wake of the indictment.
Speaker 1: Amy Morris continues our coverage from the Bloomberg ninety nine
Speaker 1: one newsroom in Washington. Senate Majority Leader Chuck Schumer is
Speaker 1: calling for peace by both Trump's critics and supporters. California
Speaker 1: Democratic Congressman Eric Swalwell says the indictment is a somber
Speaker 1: day for a Mary Erica and urged quote, let us
Speaker 1: neither celebrate nor destroy Georgia. Republican Congresswoman Marjorie Taylor Greene tweeted,
Speaker 1: quote the gloves are off and that Trump is the
Speaker 1: only one standing in the way of tyrants. Former House
Speaker 1: Speaker Nancy Pelosi says she hopes former President Trump will
Speaker 1: peacefully respect the justice system. Current House Speaker Kevin McCarthy tweeted,
Speaker 1: the American people will not tolerate this injustice in Washington.
Speaker 1: I'm Amy Morris Bloomberg Day Break. Thank you, Amy. So
Speaker 1: now that this highly anticipated indictment has come down, what
Speaker 1: are the next legal steps for the former president? Bloomberg
Speaker 1: legal analyst June Grosso has that angle as we continue
Speaker 1: our team coverage. In some respects, Trump will be treated
Speaker 1: like other high profile defendants. The Manhattan DA's office will
Speaker 1: work out a day and time for his surrender with
Speaker 1: his attorneys. Trump will be booked and fingerprinted, and his
Speaker 1: mug shot will be taken like any other defendant. He'll
Speaker 1: then be escorted to the courtroom for his arraignment. But remember,
Speaker 1: unlike other defendants, Trump will have a secret service can
Speaker 1: tingent with him at all times, and there'll be no
Speaker 1: need to discuss bail. Bloomberg's June Grosso reports officials have
Speaker 1: been in contact with Trump's attorney to coordinate his surrender
Speaker 1: for arraignment. Well, Nathan, this historic case will not be
Speaker 1: an easy one for the judge who's eventually assigned to it.
Speaker 1: We spoke with former federal prosecutor Michael Zelden. Well, it'll
Speaker 1: be a big issue for the judge to make sure
Speaker 1: that the jury's selection process is fair to the defendant
Speaker 1: and fair to the prosecution, and I expect that'll take
Speaker 1: a long time. Michael Zelden is a former federal prosecutor
Speaker 1: and served as special counselor to Robert Muller at the
Speaker 1: Justice Department. Zelden points out that Shrump's announced run for
Speaker 1: president could complicate proceedings in this case. Now, of course, Karen,
Speaker 1: this case isn't the only potential legal woe for Donald
Speaker 1: Trump Bloomberg. Steve Rappaport joins US Live in New York
Speaker 1: with the details on that, Steve, that's right, Nathan and Karen.
Speaker 1: The numerous legal actions pending against the former president include
Speaker 1: criminal investigations by a prosecutor in Georgia and the Justice
Speaker 1: Partment regarding efforts to overturn the twenty twenty election. DJ
Speaker 1: is also probing whether Trump broke the law by storing
Speaker 1: classified records at his Moralago home. On the civil side,
Speaker 1: there's a defamation charge from a woman who claims Trump
Speaker 1: raped her, the New York Attorney generals suing Trump and
Speaker 1: his company, and lawsuits from Capitol police officers injured in
Speaker 1: the January sixth riot. Live in New York. I'm Steve
Speaker 1: Rappaport Bloomberg Daybreak. It's thirty nine degrees in New York.
Speaker 1: It's going to turn cloudy today, Showers developing by late
Speaker 1: afternoon on a way in your fifty five. Temperatures will
Speaker 1: rise overnight as showers continue. Take a look at some
Speaker 1: of the other stories making news in New York and
Speaker 1: around the world. For that, we're joined by Bloomberg's Michael
Speaker 1: bar Good morning, Michael, Good morning, Nathan. The fallout continues
Speaker 1: from Russia's detainment of an American journalist. Secretary of State
Speaker 1: Anthony B. Lincoln is confirming his office is in touch
Speaker 1: with The Wall Street Journal, where American journalist Evan Gerskovich
Speaker 1: is employed. Russian authorities detained Gerskovich, accusing him of spying.
Speaker 1: Why How's Press Secretary Kerin Jean Pierre all the espionage
Speaker 1: charges ridiculous. We condemned the detention of mister Gerskovich in
Speaker 1: the strongest in the strongest terms. We also condemned the
Speaker 1: Russian government's continued targeting and repression of journalists. State Department
Speaker 1: officials are now urging US citizens residing or traveling in
Speaker 1: Russia to depart immediately, citing numerous safety risks. Authorities are
Speaker 1: looking for the people responsible for more than forty druggings
Speaker 1: linked to robberies around Manhattan clubs. Seven of the druggings,
Speaker 1: dating back to September or twenty twenty one, were fatal.
Speaker 1: Prosecutors believe at least six people are connected. So far,
Speaker 1: no one has been arrested for the crimes, including second
Speaker 1: degree murder. Angry over the deadly schools shooting in Nashville,
Speaker 1: hundreds of protesters packed into the Tennessee capital to demand
Speaker 1: action from lawmakers. The demonstrators demanded new gun safety legislation,
Speaker 1: including red flag laws and background checks. People are heartbroken
Speaker 1: and angry. The sense of powerlessness is really really strong
Speaker 1: because our legislature generally tries to ignore the stuff, so
Speaker 1: we had to get in our faces. Six people, including
Speaker 1: three children, were killed in Monday's mass shooting. Officials vowed
Speaker 1: to ramp up defense against cyber threats toward the United
Speaker 1: States at the Advancing Technology summoned in Washington, Homeland Security
Speaker 1: Secretary Alejandro Majorcas says, we know we must do more
Speaker 1: to protect vulnerable groups. We will extend our ongoing cybersecurity
Speaker 1: work to communities at heightened risk of targeting by sophisticated
Speaker 1: cyber threat actors. Secretary Mayorcus and other officials say digital
Speaker 1: repression and manipulation are means for authoritarian governments to manipulate
Speaker 1: the information and their citizens. Absorbed Global News twenty four
Speaker 1: hours a day, powered by more than twenty seven hundred
Speaker 1: journalists and analysts and over one hundred twenty countries. I'm
Speaker 1: Michael bar This is Bloomberg, Nathan. Thank you, Michael. Time
Speaker 1: now for Bloomberg Sports Update on the morning after predecent
Speaker 1: opening Day. John stash Hour, Nathan, It's something that happened
Speaker 1: sixty two times last year, and it happened again. Pitches
Speaker 1: swing on and hit and are to center field in
Speaker 1: d macgoes just Strumpet on the track at the wall.
Speaker 1: She is done. Unbelievable. Aaron Judge in his first at
Speaker 1: batt of the year. It's a home run to dead center.
Speaker 1: Dude is a judge and blood that's of course. John
Speaker 1: stirleing w Fan judgees first swing of the season, Glabor
Speaker 1: Torres later a patented Yankee Stadium right field homer. Game
Speaker 1: of the man on. Yanks won the opener five to
Speaker 1: nothing over the Giants, a game where both teams struck
Speaker 1: out sixteen times. Garrett Cole fanned eleven and six innings,
Speaker 1: most ever by a Yankee and an opener. Ron Marinaccio
Speaker 1: pitched the last two. Anthony Volpe called it the most
Speaker 1: fun day of his only twenty one year old life,
Speaker 1: as the new Yankee shortstop made his big league debut.
Speaker 1: Mets in Miami led three nothing sixth inning Mexers Or
Speaker 1: was cruising. The Marlins tied the game of the Mets
Speaker 1: got a two run double in the seventh from Grand
Speaker 1: Nimo and won five to three. Shots Or the winner,
Speaker 1: and David Robertson got the save. He's now the closer
Speaker 1: with the season long injury to Edwin Diaz and another
Speaker 1: Met injury not nearly as serious, but Justin Verlander begins
Speaker 1: the season on the injured list muscles strained near his shoulder.
Speaker 1: Verlander said if this was the postseason, he would pitch
Speaker 1: Julius Randall as the sprained ankle won't play the last
Speaker 1: five games of the next regular season, starting tonight in Cleveland,
Speaker 1: with almost certainly a playoff preview, as was the game
Speaker 1: last night in Newark, Devil's two goals in the first
Speaker 1: period and up for a two one win over the Rangers,
Speaker 1: who just gave twenty three year old Philipedal four year
Speaker 1: contract extension. John Stashedward Bloomberg Sports Live from coast to coast,
Speaker 1: from New York to San Francisco, Boston to Washington, d C.
Speaker 1: Nationwide on Sirius XAM, the Bloomberg Business app, and Bloomberg
Speaker 1: dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.
Speaker 1: The twenty twenty four presidential race is now moving into
Speaker 1: uncharted territory. For the first time, a former US president,
Speaker 1: Donald Trump is facing a criminal indictment. Of course, Trump
Speaker 1: is the first president to be impeached twice, and now
Speaker 1: this legal issue comes as the former president is seeking
Speaker 1: reelection in a campaign already driven by grievance and shadowed
Speaker 1: by multiple legal challenges. For more on where this goes
Speaker 1: from here and the impact on the campaigns, where you
Speaker 1: are joined by a couple top Washington analysts, Terry Haynes
Speaker 1: the founder of Pangaea Policy and Greg Valier, chief US
Speaker 1: policy strategist at AGF Investments. Gentlemen, it's good to speak
Speaker 1: with you both. I'll start with you, Terry, to get
Speaker 1: your reaction to this indictment and what it means for
Speaker 1: the presidential race. Good morning, Nathan. Three points at the top. First,
Speaker 1: I think this is sad for the country, which deserves
Speaker 1: a lot better than endless bread and circuses. But both
Speaker 1: Trump is providing and in this case, legal profession is providing.
Speaker 1: You can't have bread and circass without but without bakers
Speaker 1: and cooks, so let's not forget that. Secondly, sad for
Speaker 1: the legal profession. I mean what you've got here is
Speaker 1: I think politicized justice with a fairly weak case. That's
Speaker 1: not good for the how the legal profession is viewed
Speaker 1: in the country. Finally, I'll say it's non consensus on
Speaker 1: the politics. I think the conventional wisdom is that the
Speaker 1: strengthens Trump in primaries makes it weaker with Biden and
Speaker 1: all the rest. I think it's likelier to cause more
Speaker 1: Trump fatigue, and since Trump fatigue is a key part
Speaker 1: of the Santus's pitch, I think it's likelier to help
Speaker 1: the Santus. Finally, it's you know, the country sees straight
Speaker 1: through this as politicized. Sixty percent is politically motivated in
Speaker 1: sixty seven percent think Trump's payment was a personal expense.
Speaker 1: So yeah, this may play well in Manhattan, it doesn't
Speaker 1: play well in the country, and it's not good for
Speaker 1: the country. Greg, is that how you see it as well?
Speaker 1: Is that possible that we could see Trump weekend by
Speaker 1: this indictment In the longer term, Well, good morning. I'm
Speaker 1: struck by how much we don't know yet. We don't
Speaker 1: know what's in the sealed document. Is it's just hush money?
Speaker 1: Is it obstruction of justice? So there's a lot more
Speaker 1: to come out, And I'd say the big takeaway from
Speaker 1: me is that this is just the ordure. This is
Speaker 1: just the beginning of these cases. There's a very strong case,
Speaker 1: I think in Georgia of Trump trying to obstruct and
Speaker 1: deny the election result there. I think there's obviously a
Speaker 1: case involved with January sixth, what did Trump do? And finally,
Speaker 1: I think that the whole issue of the top secret
Speaker 1: documents that wound up in Marlago who could lead to
Speaker 1: an indictment as well. So this is just the beginning.
Speaker 1: There's a long process to go. Yeah. I do want
Speaker 1: to get to more on those cases as well, but
Speaker 1: we've already gotten a reaction as statement from the former
Speaker 1: president when it comes to this looming indictment. He's calling
Speaker 1: it political persecution and election interference at the highest level
Speaker 1: in American history. That's part of a lengthy statement that
Speaker 1: he put out last night, and we talked about it
Speaker 1: earlier with Bloomberg Politics contributor Jeanie she and Zano about
Speaker 1: how former President Trump might try to capitalize on this
Speaker 1: particular indictment. Here's what Genie had to say. He is
Speaker 1: going to use it, he says, to make the case
Speaker 1: that he is the victim of political persecution, the victim
Speaker 1: of election interference, that this has been a plan by Democrats,
Speaker 1: and he uses these sort of tropes that he talks
Speaker 1: about in these statements about Alvin Bragg, the Manhattan DIA
Speaker 1: and others that are xenophobic and racist. He's used them
Speaker 1: and tried to use them to his advantage. And of course,
Speaker 1: his numbers, by the way, in the last month have
Speaker 1: double digit gone up. Yeah, until your point, Terry, you
Speaker 1: are saying that this is sort of a non consensus
Speaker 1: view that this weekends Trump longer term. But what about that?
Speaker 1: I mean, he has in the past been able to
Speaker 1: galvanize his base, particularly when he's been able to sort
Speaker 1: of grab onto these grievance issues and use them to
Speaker 1: his advantage. Now that's absolutely so. You know, people forget
Speaker 1: in twenty sixteen that Trump had a kind of a
Speaker 1: nugget of a base of about thirty or forty percent,
Speaker 1: and then you know, and ended up being coming the
Speaker 1: nominee in part because there were so many other nominees
Speaker 1: carving up the sixty to seventy percent majority. So that's
Speaker 1: that's certainly still possible. My only comment is that twenty
Speaker 1: sixteen in twenty twenty four, two very different situations here,
Speaker 1: and there's always going to be a nugget of support
Speaker 1: for Trump. The bigger question doesn't have much to do
Speaker 1: with these prosecutions, and you know, and you know, the
Speaker 1: prosecution frankly validates the Trump's point of view. So I think, unfortunately,
Speaker 1: so there we are. But you know, twenty twenty four,
Speaker 1: there's there's a rising there's also a rising feeling in
Speaker 1: the party number one, and there's a rising feeling among
Speaker 1: the swing voters that tend to determine presidential elections, that
Speaker 1: there's a very substantial case of enough is enough, you know, regardless.
Speaker 1: You know, we've seen the act before, we've been living
Speaker 1: it for the past eight or nine years, and enough already.
Speaker 1: And my view is very simply that everybody focuses on
Speaker 1: the Trump base and they're not thinking enough about the
Speaker 1: enough already folks, which are much more numerous. Really curious
Speaker 1: to hear what you think, Greg about the idea of
Speaker 1: enough already voters being out there. It seems like views
Speaker 1: on the former president have pretty much calcified for a
Speaker 1: lot of people. Well, are there many swing voters left
Speaker 1: when it comes to former President Trump? I think there
Speaker 1: was some that can be moved. Nathan, Just to follow
Speaker 1: up on what Terry said, enough is enough? I wonder
Speaker 1: what Mitch McConnell is thinking this morning. I mean, he
Speaker 1: was looking at an election that would revolve around issues
Speaker 1: that would help the Republicans, the uncertainty over the economy,
Speaker 1: crime problems at the border, with the illegal immigration. The
Speaker 1: Republicans have a long list of issues that I think
Speaker 1: are quite potent, but they're going to get bogged down
Speaker 1: once again on Donald Trump, And there was a Pavlovian
Speaker 1: reaction yesterday from Kevin McCarthy and all the Republicans rushing
Speaker 1: to Trump's defense after the second or third indictment. With
Speaker 1: these other cases that loom, I think a lot of
Speaker 1: Republicans may have to regret all of the wonderful things
Speaker 1: they said about Donald Trump last night. The reason interesting
Speaker 1: point there, and I think back to after the second
Speaker 1: impeachment when Senator McConnell came to the Senate floor to
Speaker 1: explain his vote to acquit the now former president, saying
Speaker 1: that he could face potential prosecution over some of these
Speaker 1: issues as a private citizen. Terry, what about some of
Speaker 1: these other cases that are coming over the president? Now?
Speaker 1: We are getting closer to a twenty twenty four race
Speaker 1: where it might get more difficult to pursue some of
Speaker 1: these pretty heavy cases against the former president, couldn't it? Yeah? Absolutely,
Speaker 1: you know, and those cases are not without peril for
Speaker 1: Democrats as well. You have, in addition to the New
Speaker 1: York case, you've got this Georgia election case where the
Speaker 1: law may be stronger, but I think I think the
Speaker 1: facts are relatively weak, and you know, that'll take some
Speaker 1: time time to get moving. And finally you have the
Speaker 1: whole Marilago documents issue, and that looked that looked one
Speaker 1: way in October and looked another way in November after
Speaker 1: we find after we found out that President Biden had
Speaker 1: a generally similar issue withholding documents. And you can you
Speaker 1: can slice and dice the differences between those all day,
Speaker 1: but in the end, what you're going to have as
Speaker 1: a Justice Department saying, look, we have to be real short,
Speaker 1: it has to be you know, real big, and you know,
Speaker 1: I think they'll faff around with that for quite a
Speaker 1: bit and then figure out that they might not want
Speaker 1: to pursue that, not only because the law isn't there.
Speaker 1: Excuse me, the law and the facts aren't there, that
Speaker 1: because it will also make the Justice Department itself look
Speaker 1: very politicized. So you know, I think we've got in
Speaker 1: the end with these prosecutions. As much as anti Trump
Speaker 1: people are salivating this morning, I think we've got a
Speaker 1: lot more sizzled than stake. We're speaking with Terry Haynes,
Speaker 1: the founder of Pangaea Policy by phone, joining us on
Speaker 1: Bloomberg Daybreak, and Greg Valier, at Chief US policy strategist
Speaker 1: for AGF investments with us via zoom. Greg, I want
Speaker 1: to ask you about how this could potentially affect policy
Speaker 1: making in Washington. We have gotten a lot of reaction,
Speaker 1: as we would come to expect from lawmakers on Capitol
Speaker 1: Hill in terms of the politics of this case against
Speaker 1: former President Trump. But as you mentioned, we have a
Speaker 1: debt ceiling fight to come, we have fights over spending
Speaker 1: to come, and a very divided government, very different points
Speaker 1: of view between Republicans and President Biden. When you have
Speaker 1: former president facing a criminal prosecution, does that put some
Speaker 1: of those policy issues, things that need to get done
Speaker 1: in Washington on hold. Well, I'm not sure we could
Speaker 1: get any more polarized than we already are. So I
Speaker 1: don't know that this makes, for example, getting a death
Speaker 1: ceiling deal easier or tougher, because that's still going to dominate.
Speaker 1: Let me make this point, Nathan, for the markets, and
Speaker 1: we talk to a lot of people, all three of
Speaker 1: us in the markets. I think for the markets, this
Speaker 1: is not a big deal. Futures are up this morning.
Speaker 1: The big story for the markets today is not Donald Trump.
Speaker 1: It's that we get the Personal Consumption Expenditure Rounder and
Speaker 1: we get to see what the inflation data is the
Speaker 1: FED pays a lot of attention to that number. So
Speaker 1: in many respects, the markets will just go on looking
Speaker 1: at economic data, looking at earnings. This story will not
Speaker 1: have a big impact. However, You've got to say from
Speaker 1: a political standpoint, it does complicate things here in Washington. Yeah. Absolutely,
Speaker 1: And Terry, what do you think can government walk and
Speaker 1: chew gum at the same time when it comes to
Speaker 1: dealing with the politics of a prosecution against the former
Speaker 1: president and getting policy done in Washington? The reaction from
Speaker 1: Republicans will be that it's more important than ever to
Speaker 1: walk in chew gum at the same time. Uh. You know,
Speaker 1: they had they had a good week politically with the
Speaker 1: with the energy bill for example. They had a good
Speaker 1: week both Democrats and Republicans on the banking scandal hearings,
Speaker 1: which I think actually marginally helped markets in a lot
Speaker 1: of different ways by showing people that drawing lines under
Speaker 1: the idea that this is not a systemic event. Uh.
Speaker 1: And they will want to continue to push on that,
Speaker 1: and they will want to continue to carve out identity. Frankly,
Speaker 1: that is that's very distinct from Trump. You know, the
Speaker 1: people on Washington, people in New York. The national types, Uh,
Speaker 1: always think about election through a national prison, when in fact,
Speaker 1: you know, these people represent states and districts, and it's
Speaker 1: important to them to have a record for their state
Speaker 1: district to talk about and to go back on. They
Speaker 1: got elected on something they've been pushing up to depth
Speaker 1: on today, saying that they want to accomplish certain things.
Speaker 1: They'll build double down and want to accomplish those even more.
Speaker 1: They do not want to have their political fates tied
Speaker 1: to Trump one way or the other. Greg, How does
Speaker 1: this affect President Biden's political fate. We're still waiting for
Speaker 1: him to make the formal announcement that he's running for reelection.
Speaker 1: You have to imagine that the White House is going
Speaker 1: to face questions about the former president's indictment. How does
Speaker 1: President Biden deal with this? It's a really good question.
Speaker 1: I think that he will stay fairly subdued on this,
Speaker 1: You won't pile on. I think that, yeah, he probably
Speaker 1: feels that he has to run for a second term
Speaker 1: because there's no logical sussessor in the Democratic Party and
Speaker 1: that he's got to run. So I think that Biden
Speaker 1: will wait as long as possible before announcing he will
Speaker 1: focus on issues. But my sense is that they're not
Speaker 1: going to go after Trump super aggressively. What's the all saying?
Speaker 1: If your enemy is self destructing, you know, there's no
Speaker 1: need to pile on right now? Do you agree with that, Terry?
Speaker 1: And what as well? What does this mean for potential
Speaker 1: Republican contenders against former President Trump? Are waiting for a
Speaker 1: number of them to make their announcements as well. Sure,
Speaker 1: I think I think Grigg's right that the White House
Speaker 1: itself remains subdued. But you know, they democrats, generally national democrats,
Speaker 1: think they're getting the scenario they want. Remember the great
Speaker 1: uh you know, remember there was a great Ala Obrook
Speaker 1: line and all the presidents meant and I'm not drawing
Speaker 1: water date comparisons here, but you know, like you know,
Speaker 1: they wanted against you know, they wanted to run against
Speaker 1: me governed. Look, or they're running against you know, like
Speaker 1: they want to run against Trump, look or they're running
Speaker 1: against and uh, and you're in a situation where, uh,
Speaker 1: you know, they want the situation where you know, as
Speaker 1: Biden's talking points are always maga Republicans, Maga Republicans, they
Speaker 1: want the situation where they can say for the next
Speaker 1: two years it's me or or it's me or or
Speaker 1: you know, bad Orange Man, and uh, you know they
Speaker 1: think today they're getting that. This is frankly one reason
Speaker 1: why I point out that the alternative, the DeSantis business,
Speaker 1: where Trump fatigue kicks in, I think is actually the
Speaker 1: more likely scenario. Yeah Terry Hayes, the founder of Yeah
Speaker 1: Greg Real quickly, real quick point. If Trump is weakened
Speaker 1: and DeSantis hasn't done that well lately, there is still
Speaker 1: another avenue for one more candidate. I think that other
Speaker 1: candidate is going to be blend yuncan. This is Bloomberg
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