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Speaker 1: Live from our nation's capital. This is Bloomberg's sound On.

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Speaker 1: We're gonna talk all about the policy prescriptions of the

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Speaker 1: Biden administration. We're not going to hear anymore about Operation

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Speaker 1: Warp Speed. They're gonna be calling it the COVID response.

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Speaker 1: We're talking right now about jockeying amongst Republicans. Bloomberg Sound On,

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Speaker 1: The insiders, the influencers, the insiders fiding has commented again

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Speaker 1: and again that he will unite the country. Who would

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Speaker 1: you think Biden has to watch in terms of moderate detectors.

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Speaker 1: The House has been voting for this stimulus package basically

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Speaker 1: for months. Bloomberg Sound On with Kevin Surreley on Bloomberg Radio.

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Speaker 1: United States passes a grim COVID nineteen milestone five hundred

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Speaker 1: thousand deaths in the pandemic. This as Treasury Secretary Janet

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Speaker 1: Yellen and Fed Sherman J. Powell are ary of financial froth.

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Speaker 1: While they continued to push the stimulus, President Biden was

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Speaker 1: out calling for more stimulant today as well. And a

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Speaker 1: developing story happening tomorrow, the Senate Intelligence Committee will convene

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Speaker 1: to investigate the solar wind breach. I have an exclusive

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Speaker 1: interview with the chairman of that committee, Senator Mark Warner.

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Speaker 1: A lot to get through. Let's begin tonight with the

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Speaker 1: unfortunate big story. A half a million Americans are now

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Speaker 1: dead as a result of the novel coronavirus that first

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Speaker 1: hit the US shorts just a little more than a

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Speaker 1: year ago, a sad milestone that's left families morning. Nationwide

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Speaker 1: u f US deaths past the five hundred thousand mark earlier. Today,

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Speaker 1: global deaths related to COVID nineteam have surpassed two point

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Speaker 1: four six million, with the US leading all countries with

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Speaker 1: more than twice the number recorded by the next closest, Brazil.

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Speaker 1: According to Bloomberg's Virus Tracker, hospitalizations and deaths have fallen

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Speaker 1: since peaking in early January as treatments have improved an

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Speaker 1: a rising number of Americans have gotten natural immunity from

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Speaker 1: surviving the virus, and more people are getting shots of

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Speaker 1: the vaccines produced by either Maderna or Fighter. It comes

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Speaker 1: as the economy continues to lag behind, and US Treasury

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Speaker 1: Secretary Janet Yellen and Federal Reserve chair Jerome Powell appear

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Speaker 1: wary of signs of froth and financial markets even as

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Speaker 1: they press ahead with economic stimulus measures that are elevating

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Speaker 1: the euphoria. For his part, President Joe Biden says that

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Speaker 1: more help for small business owners, who say large companies

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Speaker 1: have so far received an unfair share of government assistance

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Speaker 1: during the pandemic must come soon. I've got sound on

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Speaker 1: this here, he is, we need commerce to pass my

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Speaker 1: American Rescue Plan. It deals with the immediate crisis facing

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Speaker 1: our small businesses. Now, critics say the plan is too big.

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Speaker 1: Let me ask the rhetorical question, what would you have

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Speaker 1: me cut? We're going to die. We're going to dive

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Speaker 1: into the specifics of the timing of this as certain

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Speaker 1: centrist Democrats like Senators Joe Mansion are now saying they

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Speaker 1: would not be able to get on board with a

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Speaker 1: fifteen dollar minimum wage, something that President Biden has suggested

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Speaker 1: he would be willing to back off on. My colleague

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Speaker 1: Jonathan Faroh spoke earlier today with the White House's Chief

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Speaker 1: Economic Advisor, Brian Deese, who said that inflation is a

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Speaker 1: risk that bears watching. Here's the sound on that. It's

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Speaker 1: a risk that we're keeping our eye on, and certainly, uh,

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Speaker 1: it's it's something to consider. But if we look at

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Speaker 1: the you know, recent history, over the last couple of decades,

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Speaker 1: we've seen that um, the economy has the capability of

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Speaker 1: running at stronger paces, and we think that the tools

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Speaker 1: exist to manage those risks as we go forward. Let's

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Speaker 1: bring into this conversation Bloomberg Politics contributor Rick Davis and

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Speaker 1: Kevin Walling, a Democratic strategist at h G Creative Media. Rick,

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Speaker 1: I mean, there's the lay of the land. Uh. I

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Speaker 1: was really fascinated all throughout the week again and into

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Speaker 1: today about the timing of when this one point nine

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Speaker 1: trillion dollar stimulus will actually get over the finish line,

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Speaker 1: and it's looking like it could come down to the

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Speaker 1: Senate parliamentarians ruling as to whether or not they're going

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Speaker 1: to need additional tax taxes to get revenue because of

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Speaker 1: the minimum wage issue. Rick Davis, Yeah, we know that

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Speaker 1: minimum wage. That provision in this one point nine trillion

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Speaker 1: dollar bill was in trouble the minute Joe Mansion, the

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Speaker 1: senator from West Virginia, said hey, I'm not for it.

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Speaker 1: So all of a sudden, the advantage that the Democrats

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Speaker 1: had in the Senate to get that provision through was nullified.

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Speaker 1: And now the Parliamentarian ruling on the Bird rule that says,

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Speaker 1: you know, after you have to be able to see

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Speaker 1: tax revenue that meets the government expenditures ten years out,

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Speaker 1: Uh could box it up to It sounds today like

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Speaker 1: the White House is recognizing that that that Joe Biden

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Speaker 1: is no longer going to put a lot of his

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Speaker 1: own political capital to work on this. And the reality

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Speaker 1: is it if without it, it will probably speed up

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Speaker 1: the acceptance which they're targeting for March fourteen when some

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Speaker 1: of these provisions and law run out and people were

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Speaker 1: left without support. So just to to come up for

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Speaker 1: air and to to translate how far we just dove

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Speaker 1: into the weeds for folks listening. So if you have

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Speaker 1: a stimulus bill that is going to cost the government

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Speaker 1: money over the next decade, you have to add you

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Speaker 1: have to add taxes in order to pay for it.

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Speaker 1: It's called the Bird rule. The Bird rule, And so

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Speaker 1: the Senate Parliamentarian is going to be hearing arguments from

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Speaker 1: Republicans and Democrats as to whether or not they're going

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Speaker 1: to have to find additional revenue to pay for the

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Speaker 1: increase and minimum wage. Now with Mansions comments to kind

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Speaker 1: of treat this as you know, I hate to use

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Speaker 1: the analogy, but a political football game, that means that

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Speaker 1: Democrats cannot afford to lose one other vote, i e.

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Speaker 1: A Curson Cinema. But with Mansion gone, VP Harris could cast,

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Speaker 1: will cast. That's high deciding vote, Kevin Wahling, a Democratic strategist.

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Speaker 1: That makes your caucus calculations in the Senate all the

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Speaker 1: more intriguing. What are you hearing from your Democratic colleagues? Yeah,

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Speaker 1: it terally does, Kevin in to your point, I mean,

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Speaker 1: I think we'd have to pick up a Republican vote.

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Speaker 1: In fact, with the fifty fifty split, if we lose Mansion,

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Speaker 1: it's lights out on the provision of keeping the minimum

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Speaker 1: wage increase in if we lose him. And you're rightly uh,

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Speaker 1: you know, uh to point out that the Kirstian Cinema

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Speaker 1: seems to be on the fence to a Democrat from Arizona. Uh,

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Speaker 1: it cleared obviously an important hurdle on the House side today.

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Speaker 1: Just a few hours ago before the House Budget Committee

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Speaker 1: was a party line vote. No Republicans joined the committee

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Speaker 1: Democrats and moving that bill forward through the reconciliation process.

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Speaker 1: But again, uh, you know, you saw indications out of

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Speaker 1: Bernie Sanders, the Chairman of the Budget Committee, that he

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Speaker 1: is cautiously optimistic optimistic that the Parliamentarian will allow that

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Speaker 1: to go forward. The minimum wage increase in that bill

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Speaker 1: I read through the chea leads. When someone says cautiously optimistic,

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Speaker 1: they're actually really not that optimistic that will happen. Uh.

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Speaker 1: And I think, to explain it, you sound like a pessimist.

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Speaker 1: I know, right well, I think I'm realist. Ken I'm

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Speaker 1: more of the I'm more of the glass half full

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Speaker 1: kind of guy. Not to interrupt, you are, I know

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Speaker 1: you are, but you know, I think the Rick point,

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Speaker 1: if the Parliamentarian rules against allowing that to move forward

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Speaker 1: as part of that larger package, I think we'll see

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Speaker 1: this clear hurdles a lot quicker on the hill, at

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Speaker 1: least in terms of moving the process along through through

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Speaker 1: budget reconciliation. You know, We've got sound on this from

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Speaker 1: Pharaoh's Great interview with Brian Deese, who is the chief

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Speaker 1: economic adviser for President Biden, and he was asked about

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Speaker 1: the criticism that both Rick Davis as well as Kevin

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Speaker 1: Walling have alluded to. Here's the sound on that we

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Speaker 1: size this based on the needs that we see to

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Speaker 1: get shots some people's arms, to get the schools reopened,

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Speaker 1: and to get relief to families and businesses out there.

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Speaker 1: And as we look at this, we look at the

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Speaker 1: estimates out there of not only output gap, but also

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Speaker 1: the amount of pain we see in the labor market.

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Speaker 1: Ten million people out of work still in this economy.

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Speaker 1: We think that this is appropriately sized and frankly, the

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Speaker 1: right kind of economic prescription to what is a unique

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Speaker 1: and really precarious moment in our economy. Earlier today I

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Speaker 1: spoke with a staffer on the House Budget Committee, which

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Speaker 1: is as Welling just alluded to, was uh really going

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Speaker 1: into the markup? And the stafford said, Kevin, I can't

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Speaker 1: talk to you right now. We're heading into a markup.

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Speaker 1: The chairman's busy. Maybe you can get them this week.

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Speaker 1: I don't know. But to that notion of Vick Davis,

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Speaker 1: I mean, Chairman Yarmouth is actually not really the one

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Speaker 1: in the middle of all this. It's Bernie Sanders, the

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Speaker 1: chairman of the Senate Budget Committee. It's Joe Manchion, it's

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Speaker 1: Kirsten Cinema, it's John Tester. I mean those are the

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Speaker 1: players even on the Republican side, Senator Mitt Romney, who

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Speaker 1: are are really negotiating whether or not they would be

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Speaker 1: willing to get on board with a rising in the

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Speaker 1: minimum wage. Walmart, for their part, in the private sector,

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Speaker 1: has already come out and said that they're planning to

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Speaker 1: go about some type of gradual wage increase. But this

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Speaker 1: minimum wage issue at a time when it's really right

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Speaker 1: now only seven dollars and twenty five cents, is it's

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Speaker 1: remarkable on on a host of different levels. Rick Davis, Yeah,

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Speaker 1: I think that it's interesting that you you raise this

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Speaker 1: dynamic because we're setting a standard, right. I mean, the

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Speaker 1: government sometimes rules by fiat, in other words, they actually

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Speaker 1: pass laws and tell you you've got to do these things.

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Speaker 1: But a lot of time, the government, uh, they lead

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Speaker 1: the country, especially on issues like this by setting a

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Speaker 1: standard in in in in fact, that center could be

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Speaker 1: like what they pay people as a minimum wage in

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Speaker 1: the federal government. And I think you are seeing in

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Speaker 1: real time the government basically saying to the American public,

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Speaker 1: the minimum wage that is set in the country is

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Speaker 1: too low. We're having trouble getting it passed in Congress,

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Speaker 1: but you should understand that we think as a federal

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Speaker 1: government as leaders of our country. We gotta do better

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Speaker 1: than this, and I think you will see more and

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Speaker 1: more corporations taking the lead taking that opening. Remember, they

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Speaker 1: are looking at polling data that shows this bill with

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Speaker 1: the minimum wage increase in it having three quarters of

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Speaker 1: these the country's support behind it, including a lot of Republicans,

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Speaker 1: almost all the Independence and almost all the Democrats. So

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Speaker 1: it's it's it's a part of this that that I

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Speaker 1: think is very meaningful to companies. They want to play

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Speaker 1: by the rules, whether they're express or implied. You know,

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Speaker 1: there's another big story to to put a to move

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Speaker 1: on and to pivot to a different topic, and that,

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Speaker 1: of course is a Merrick Garland Kevin Walling. What are

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Speaker 1: you hearing about Judge Garland uh and and him being

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Speaker 1: a pick to lead the Department of Justice. Yeah, of

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Speaker 1: course he was before the Senate Judiciary Committee today under

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Speaker 1: the new chairman, Dick Turban of Illinois taking the gabble.

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Speaker 1: I'm hearing that. You know, he made no mistakes, he

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Speaker 1: did no harm, and I think he'll actually pulls some

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Speaker 1: Republican support among the caucus, not just before the committee,

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Speaker 1: but before the full Senate. Interestingly enough, we're We've only

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Speaker 1: seen seven confirmed Cabinet UH nominees move forward in the Senate.

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Speaker 1: That's the lowest we've ever seen at this point in administration.

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Speaker 1: Half of what we saw during President Trump and half

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Speaker 1: of what we saw during President Obama by this point,

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Speaker 1: So clearly there we're a bit lagging behind, obviously due

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Speaker 1: in part to the Georgia runoff in the power sharing

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Speaker 1: agree that they got delayed. But between leadership, um, but

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Speaker 1: I think Merrick Garland should and it was good news

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Speaker 1: from and well, it was good news for Merrick Garland.

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Speaker 1: It was rough news for near A Tandon, who Biden

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Speaker 1: nominated to lead the White House Budget Office as Republican

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Speaker 1: Senator Mitt Romney came out to oppose near A Tandon's nomination,

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Speaker 1: which further erodes her odd It's coming up an exclusive

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Speaker 1: conversation with the Senate Intelligence Committee Chairman Mark Warner, the

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Speaker 1: Democrat from Virginia on the solo and cyber hack. Why

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Speaker 1: you should care about this some Kevin Sireali, This is Bloomberg.

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Speaker 1: This is Bloomberg. Sound on with Kevin sil on Bloomberg Radio.

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Speaker 1: My name is Kevin Sirilia and the Chief Washington correspondent

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Speaker 1: for Bloomberg Television and for Bloomberg Radio. Could you see

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Speaker 1: this on Bloomberg Quick Take? Quick Take on Bloomberg John

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Speaker 1: Lowerman and Jason Gale the headline, It's on everyone's mind,

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Speaker 1: including my beloved mother who did get a vaccine. Can

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Speaker 1: a vaccinated person still spread the coronavirus? Nine vaccines have

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Speaker 1: proved effective at protecting people from developing symptoms of COVID nineteen,

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Speaker 1: the disease that can result from infection of the stars

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Speaker 1: covid to virus. It's not yet known definitively how well

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Speaker 1: the inoculations prevent people from getting an asymptomatic infection or

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Speaker 1: passing the virus on to others. Well, my mother came

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Speaker 1: down to visit me for lunch over the weekend. We

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Speaker 1: went to Milana Caffee, Milana and Georgetown, and this was

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Speaker 1: literally all we talked about, whether or not someone with

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Speaker 1: a vaccine. Manutium was actually at the next table over

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Speaker 1: about whether or not if you get the vaccine you

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Speaker 1: can spread it. So my colleagues on Bloomberg Quicktake put

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Speaker 1: this in question and answer for him. I really encourage

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Speaker 1: everyone to go out and read it. And one of

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Speaker 1: the questions, um about whether or not you can spread

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Speaker 1: it and it it's do COVID vaccines have to prevent

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Speaker 1: infection to stop transmission, not necessarily. This is based on

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Speaker 1: the science. It's a fascinating article and it comes on

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Speaker 1: the eve of a major hearing this week where vaccine

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Speaker 1: makers are going to testify on Capitol Hill. Vaccine makers

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Speaker 1: indicated that some of the big bottlenecks that have shadowed

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Speaker 1: the US immunization campaign could soon begin to ease. In

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Speaker 1: testimony submitted for a Capitol Hill hearing Tuesday tomorrow, Maderna

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Speaker 1: said that it has received positive feedback from US regulators

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Speaker 1: on a proposal to expand the number of doses of

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Speaker 1: its COVID nineteen vaccine in each vial, while Fiser said

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Speaker 1: it expects its output to ramp up in coming weeks,

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Speaker 1: and Johnson and Johnson, which could gain clearance for its

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Speaker 1: one shot vaccine as soon as this week, said that

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Speaker 1: it will be ready to ship millions of doses this

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Speaker 1: according to Riley Griffin and Robert Langreths reporting on the

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Speaker 1: Bloomberg Terminal offering a preview for tomorrow's hearing with the

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Speaker 1: Big Pharmacy Big Farm of leaders on Capitol Hill, here

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Speaker 1: to offer a preview of this blueber politics control A

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Speaker 1: pater Rick Davis and Democratic trogist Kevin Walling. Kevin, I mean,

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Speaker 1: the criticism over the rollout of the vaccine has intensified

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Speaker 1: as the buying administration has has continued. Do you think

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Speaker 1: they're going to be able to weather this or no?

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Speaker 1: I do. I mean, you saw pretty positive coronavirus prefing

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Speaker 1: with chess science and others today. Obviously President Biden visited

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Speaker 1: that fights or plant last week, and you're seeing, you know,

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Speaker 1: I think there's a certain certain degree competence in government.

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Speaker 1: We're up to two million vaccinations a day, About forty

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Speaker 1: four million Americans have already been vaccinated with at least

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Speaker 1: one dose. So those numbers are all trending in the

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Speaker 1: right direction. And then I think as the weeks progressed,

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Speaker 1: months progress, as we have more hearings, as we hear

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Speaker 1: more information in terms of not just what happened over

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Speaker 1: this past month with the by administration, the last year

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Speaker 1: or so the Trump administration, um, you will start to

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Speaker 1: move towards accountability and understanding. But I think all trends

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Speaker 1: are in the right direction, aside from the variants and

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Speaker 1: some fears with that, of course, and how these vaccines

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Speaker 1: interact with these different variants. But I think all trend

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Speaker 1: lines are positive, and you see the numbers reflective in

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Speaker 1: public polling when it comes to who is best handling

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Speaker 1: coronavirus in the COVID response, the administration is still getting

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Speaker 1: pretty high remarks. Uh uh, pretty high marks from Democrats

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Speaker 1: of course, but also a good number of Republicans Independence

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Speaker 1: across Vick Davis. I mean, this is the question. You

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Speaker 1: don't even have to be, you know, following the hearings

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Speaker 1: on Capitol Hill to know this. It's the first question

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Speaker 1: you ask anyone you see in your life. Did you

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Speaker 1: get the vaccine? Where did you get the vaccine? Did

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Speaker 1: you get the second shot? I mean the fact that

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Speaker 1: people don't know how to get this or when they're

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Speaker 1: going to get it. You're you're the you know, a

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Speaker 1: very prominent political advisor. Have you seen anything like this?

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Speaker 1: Because to Kevin's point, it's not one politician, whether it's

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Speaker 1: Governor Cuomo, whether it's Senator Ted Cruz, it's it's a

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Speaker 1: local it's a little bit of a local issue, it's

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Speaker 1: a national issue. It's a big farm at issue. What

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Speaker 1: are you how are you interpreting and analyzing this, Kevin?

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Speaker 1: I think you know so much of the public and

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Speaker 1: and I would be included in this or analyzing the

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Speaker 1: same way you and your mother were analyzing it lunch.

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Speaker 1: How does it affect me? And uh? And so I

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Speaker 1: think that that one of the things that I am

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Speaker 1: amazed by is considering the huge loss of life, and

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Speaker 1: that really is the canary in the mind shaft, right.

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Speaker 1: If people stop dying, then it's a management issue and

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Speaker 1: so so so much of the effort right now has

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Speaker 1: to be on stemming the flow of of of of

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Speaker 1: death related to coronavirus. And and I'm amazed that there

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Speaker 1: isn't a massive public affairs campaign that's been launched, you know,

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Speaker 1: on television in every state, with the federal government, with

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Speaker 1: state government, with local governments, uh, to basically inform people

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Speaker 1: on what they're doing to bring vaccines to the local

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Speaker 1: area and to their state and and and around nationally,

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Speaker 1: because the fear level, I think is actually going up

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Speaker 1: because now that vaccines are available, people are afraid they're

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Speaker 1: missing out and they don't want to be the last

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Speaker 1: person to die of coronavirus. You know, I could not

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Speaker 1: agree with you more. I'm stunned because I was told

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Speaker 1: I had reporting on this and that during the transition

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Speaker 1: period that there were Republicans and Democrats on Capitol Hill

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Speaker 1: who were going to work with the Public Affairs Federal

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Speaker 1: Apparatus to push a public information campaign about information pertaining

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Speaker 1: to vaccination distribution. I have not seen it. I have

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Speaker 1: not seen it. We'll leave it there. Rick Davis, Bloomer

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Speaker 1: Politics contributor, stays with me. Kevin Walling, thanks you so

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Speaker 1: much for your time. Up next, Chairman of the Intel Committee,

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Speaker 1: Mark Morner. I'm Kevin CURREALI This this Bloomberg broadcasting line

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Speaker 1: from our nation's capital, Bloomberg to New York, Bloomberg eleven

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Speaker 1: Frio to San Francisco, Bloomberg to the country serious X

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Speaker 1: General one nine team, and around the globe the Bloomberg

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Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg

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Speaker 1: Sound On with Kevin si Really. My name is Kevin Sireli.

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Speaker 1: I am the chief Washington correspondent for Bloomberg Television and

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Speaker 1: for Bloomberg Radio. Earlier today I spoke to Virginia Senator

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Speaker 1: Mark Warner. He is the Chairman of the Senate Intelligence Committee.

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Speaker 1: This is one of the most powerful committees in the

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Speaker 1: in the United States Senates, and I got a preview

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Speaker 1: on the Solar Winds cyber hack hearing which is tomorrow,

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Speaker 1: and I asked him what he hopes to get out

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Speaker 1: of the meeting. Take a listen to what he said. Well, Kevin,

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Speaker 1: we have held one closed conversation with the leaders of

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Speaker 1: the n s A and other government officials. But what

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Speaker 1: I I want to hold, what I want to get

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Speaker 1: out of tomorrow was a couple of things. One, even

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Speaker 1: though this was a highly executed major foreign adversary, I

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Speaker 1: want to make the point that that should not relieve

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Speaker 1: any private enterprise or governmental enterprise from that matter, from

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Speaker 1: still not practicing good cyber hygiene Number one. Number two,

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Speaker 1: because this was such an extensive breach. Literally eighteen thousand

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Speaker 1: Solar wind customers UH possibly could have been affected. Now,

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Speaker 1: the universe of those who are actually affected was much smaller.

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Speaker 1: But I think the public needs to understand that this

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Speaker 1: level of vulnerability, this level of attack into the supply chain,

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Speaker 1: we've not seen in the past. Third, I think we

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Speaker 1: need to start a real policy debate about the fact

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Speaker 1: that we have no mandatory reporting requirements UM but for

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Speaker 1: the fact that one of the people testifying tomorrow, Kevin

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Speaker 1: Mandia from fire Eye. They came forward because they've been

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Speaker 1: hacked into by this foreign adversary. If they had not

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Speaker 1: come forward, we might still be in the dark. So

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Speaker 1: how do we put in place a reporting requirement that

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Speaker 1: anonymizes the data but reports so that we are particularly

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Speaker 1: mid stream attack not left in the dark. And then finally,

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Speaker 1: who would that reporting entity be? Two? I'm I think

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Speaker 1: we're exploring a series of public private ideas. Is there

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Speaker 1: a model, for example, that comes from the transportation realm,

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Speaker 1: the National Transportation Safety Board that has experts, that comes

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Speaker 1: before you actually go into full liability questions, but there's

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Speaker 1: a an immediate team that can get on the ground

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Speaker 1: mid accident or mid incident in the case of a

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Speaker 1: cyber attack, um and make sure that we are able

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Speaker 1: to stop this in process. And then finally, you should

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Speaker 1: there be a different level of standards when we are

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Speaker 1: seeing an adversary attack literally through a patching process. I mean,

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Speaker 1: is that the equivalent of of we all know countries

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Speaker 1: spy in each other, we all know when war cut

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Speaker 1: nations fight each other, but we've developed rules that say, well,

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Speaker 1: if we're fighting each other. We have an agreement that

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Speaker 1: we're not going to bomb a hospital, We're not going

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Speaker 1: to bomb an ambulance with a Red cross on it.

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Speaker 1: Perhaps there should be some of those same similar both

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Speaker 1: higher level of standard and greater level of protection when

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Speaker 1: we're sending out patches or other things that as in

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Speaker 1: the case of Solar Winds um you know, frankly went

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Speaker 1: out to all eighteen thousand customers and could have potentially

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Speaker 1: made this incursion exponentially worse than it appears to be.

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Speaker 1: Mr Sherman, these are big questions about the policy debate

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Speaker 1: forward just but just to put it in simple terms,

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Speaker 1: what is the most concerning data that the hackers access

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Speaker 1: from the espionage and what can they learn from or

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Speaker 1: do with this information? The most concerning item to me

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Speaker 1: is not the individual bits of information that they exceltrated.

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Speaker 1: The most concerning thing to me and for I think

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Speaker 1: most of us should be through this. Getting into a

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Speaker 1: Solar Winds update that went to all eighteen thousand customers,

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Speaker 1: our adversary could have potentially made this not simply an

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Speaker 1: espionage efforts to excel trade certain information, but they could

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Speaker 1: have turned this tool into a Frankly a devastating approach

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Speaker 1: that could have potentially shut down a number of these enterprises. Um,

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Speaker 1: so we've got this continuum where we have traditional espionage

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Speaker 1: and we have at the other end something like a

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Speaker 1: denial of service. The not petty attack of a number

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Speaker 1: of years ago, closer to an active war. This tool

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Speaker 1: was so uh potentially powerful it could have been crippling

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Speaker 1: if the adversary had used it not simply to actual

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Speaker 1: trade information, but to actually turn it into a type

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Speaker 1: of a denial of service. You know, I gotta follow

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Speaker 1: up here because when I was preparing for this interview

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Speaker 1: and researching this and talking to experts, I was struck

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Speaker 1: by how how complicated and complex this issue is, and

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Speaker 1: just how these hackers were so far advanced and what

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Speaker 1: they did. But when I when you put it in

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Speaker 1: simple terms here, if anyone's ever built a tree for it,

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Speaker 1: there's a ladder to get up, and then there's a

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Speaker 1: trap door. Are you concerned, Mr Chairman, that the hackers

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Speaker 1: were actually having cyber trap doors, so to speak, and

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Speaker 1: laying the groundwork for a cyber attack that is even

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Speaker 1: worse than the one with solar winds. They had a

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Speaker 1: tool that could could have potentially turned in to the

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Speaker 1: trap door analogy. It appears they didn't use it for that.

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Speaker 1: It appears it was mostly used for ex filtration worth

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Speaker 1: of specific information, because the more you turn it into

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Speaker 1: a trapdoor, the more chances you could then be discovered.

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Speaker 1: So the adversary was making a very calculated decision um

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Speaker 1: about what to use this tool for. But the fact

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Speaker 1: that it went through a a basically software update that

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Speaker 1: that didn't get caught, that basically dealt with U in

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Speaker 1: a sense. The keys, the very keys uh that solar

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Speaker 1: Wind had um to protect their software really is a

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Speaker 1: is a level of attack and a level of penetration

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Speaker 1: that is much greater than anything we've seen. We all

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Speaker 1: obviously have seen um um well known attacks over the

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Speaker 1: last number of years. We saw the Sony hack, we

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Speaker 1: saw the hack by the Chinese into our government files

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Speaker 1: with Office of Personnel Management. We've seen recently what appears

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Speaker 1: again to have been a Chinese hack into Equifax. But

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Speaker 1: these were giants sucking information out of individualized enterprises, again

432
00:25:38,160 --> 00:25:42,359
Speaker 1: closer to classic espionage, although from malicious purposes. The fact

433
00:25:42,400 --> 00:25:45,399
Speaker 1: that this went fully into the supply chain, the fact

434
00:25:45,400 --> 00:25:48,240
Speaker 1: that this could have been even passed on from any

435
00:25:48,480 --> 00:25:51,919
Speaker 1: enterprise into additional enterprises like like a daisy chain effect

436
00:25:52,520 --> 00:25:57,400
Speaker 1: really raises this attack to a different level of seriousness.

437
00:25:57,960 --> 00:26:00,520
Speaker 1: The fact that the adversary didn't use it for to

438
00:26:00,640 --> 00:26:04,879
Speaker 1: create these these multiple trap doors back to your analogy.

439
00:26:05,520 --> 00:26:09,399
Speaker 1: We were lucky but it. But they got in without

440
00:26:09,480 --> 00:26:13,080
Speaker 1: us seeing them, and they had the possibility of doing that.

441
00:26:13,200 --> 00:26:15,920
Speaker 1: And one of the things that we've also found that's

442
00:26:15,920 --> 00:26:18,880
Speaker 1: been in the public press already is that the adversary

443
00:26:19,160 --> 00:26:24,199
Speaker 1: was able to generate this attack from domestic servers. In

444
00:26:24,240 --> 00:26:26,879
Speaker 1: the past, we have some of the best assets cyber

445
00:26:26,920 --> 00:26:28,800
Speaker 1: assets in the world and in the n s A

446
00:26:28,960 --> 00:26:33,320
Speaker 1: and at cyber Command. But again, our rules don't let

447
00:26:33,800 --> 00:26:38,280
Speaker 1: those enterprises for the most part, touch um domestic assets.

448
00:26:38,800 --> 00:26:41,399
Speaker 1: If the if the bad guys can figure out, well, gosh,

449
00:26:41,680 --> 00:26:44,240
Speaker 1: we can't bring our a team if we can launch

450
00:26:44,280 --> 00:26:47,120
Speaker 1: this attack from a domestic server, and then there's no

451
00:26:47,200 --> 00:26:50,640
Speaker 1: mandatory requirement for those private companies and for that matter,

452
00:26:50,680 --> 00:26:54,440
Speaker 1: even the public enterprises the public agencies to actually report

453
00:26:54,480 --> 00:26:59,639
Speaker 1: that attack to any um, any responsible party. We are

454
00:26:59,640 --> 00:27:03,159
Speaker 1: extra ordinarily vulnerable and in this particular case, but for

455
00:27:03,200 --> 00:27:08,080
Speaker 1: the forward leaning actions of the private company fire Eye

456
00:27:08,400 --> 00:27:11,120
Speaker 1: doing the right thing. We could have been, we could

457
00:27:11,160 --> 00:27:14,320
Speaker 1: have potentially be still in the dark. Thank goodness, they

458
00:27:14,359 --> 00:27:17,879
Speaker 1: leaned forward, you know, we they came forward, and starting

459
00:27:17,880 --> 00:27:20,680
Speaker 1: in December, we've started to trying to to remedy this.

460
00:27:20,760 --> 00:27:23,239
Speaker 1: But we're still, you know, three months in. While we've

461
00:27:23,280 --> 00:27:25,560
Speaker 1: got a pretty good handle on how extensive this was,

462
00:27:26,240 --> 00:27:28,520
Speaker 1: we don't have it all a hand percent and buttoned down.

463
00:27:29,200 --> 00:27:32,120
Speaker 1: Coming up. I asked Chairman Warner, if we will ever

464
00:27:32,240 --> 00:27:35,720
Speaker 1: know how Russia hacked into solar winds, that's next. I'm

465
00:27:35,800 --> 00:27:42,679
Speaker 1: Kevin surreally, this is Bloomberg. You know, I've been covering

466
00:27:42,720 --> 00:27:46,840
Speaker 1: these cyber hacks for years, Equifax and the Chinese solar

467
00:27:46,880 --> 00:27:49,280
Speaker 1: winds in Russia. And that's where I picked up my

468
00:27:49,320 --> 00:27:54,280
Speaker 1: interview with Senate Intelligence Committee Chairman Mark Warner, Democrat from Virginia,

469
00:27:54,320 --> 00:27:57,000
Speaker 1: and I asked him, if we're ever gonna know going

470
00:27:57,040 --> 00:28:00,040
Speaker 1: to know how Russia hacked into solar winds real to it.

471
00:28:00,840 --> 00:28:04,879
Speaker 1: I think we will be able to discover that, and

472
00:28:04,920 --> 00:28:08,280
Speaker 1: I think we will be able to remediate It will

473
00:28:08,359 --> 00:28:13,359
Speaker 1: take time, um and it may require even full replacement

474
00:28:13,400 --> 00:28:15,560
Speaker 1: of networks that will be very costly, both on the

475
00:28:15,600 --> 00:28:20,320
Speaker 1: public side and the private side. But the the broader

476
00:28:20,359 --> 00:28:24,879
Speaker 1: policy questions of how can we prevent them from getting

477
00:28:24,920 --> 00:28:27,400
Speaker 1: in going forward? And then if they even if they

478
00:28:27,400 --> 00:28:30,560
Speaker 1: do get in because of if a first tier adversary

479
00:28:30,680 --> 00:28:35,760
Speaker 1: brings its a team against any private company, um chances

480
00:28:35,760 --> 00:28:38,240
Speaker 1: are they may have some success. That that doesn't mean

481
00:28:38,240 --> 00:28:42,200
Speaker 1: the private company doesn't need to good do good cyber hygiene,

482
00:28:42,400 --> 00:28:45,400
Speaker 1: because that good cyber hygiene will help spot the bad

483
00:28:45,440 --> 00:28:48,320
Speaker 1: guy once they're inside. But the fact that we have

484
00:28:48,360 --> 00:28:54,000
Speaker 1: no mandatory reporting regime in place, and who that reporting

485
00:28:54,000 --> 00:28:56,400
Speaker 1: even ought to be to that private industry and frankly

486
00:28:56,440 --> 00:28:58,760
Speaker 1: even government would feel comfortable with are going to be

487
00:28:58,800 --> 00:29:01,880
Speaker 1: some of the questions that will art getting at tomorrow,

488
00:29:01,920 --> 00:29:05,160
Speaker 1: but we by no means will finish. Chairman Warner Warner,

489
00:29:05,200 --> 00:29:07,200
Speaker 1: I remember covering you on the set of Banking Committee

490
00:29:07,200 --> 00:29:11,080
Speaker 1: back during the Target data breach, and it's it's really

491
00:29:11,120 --> 00:29:15,280
Speaker 1: disheartening to see that these questions are still around for

492
00:29:15,280 --> 00:29:17,960
Speaker 1: for the government to still answer. You actually wrote in

493
00:29:18,000 --> 00:29:21,360
Speaker 1: a February ninth letter to intelligence leaders that quote the

494
00:29:21,400 --> 00:29:26,000
Speaker 1: briefings we have received convey a disjointed and disorganized response

495
00:29:26,320 --> 00:29:29,800
Speaker 1: to confronting the breach. What steps should the United States

496
00:29:29,840 --> 00:29:34,440
Speaker 1: take immediately? To strengthen its response. I I wrote that,

497
00:29:34,600 --> 00:29:39,240
Speaker 1: And luckily the administration has appointed and new Burger who

498
00:29:39,320 --> 00:29:42,400
Speaker 1: is now in a sense on the National Security Council

499
00:29:43,120 --> 00:29:45,400
Speaker 1: responsibilities of cyber She came out of n s a

500
00:29:46,040 --> 00:29:49,840
Speaker 1: UM to be the lead person. So there is this quarterback.

501
00:29:50,520 --> 00:29:54,360
Speaker 1: But the fact that we still have no uh. This

502
00:29:54,400 --> 00:30:00,560
Speaker 1: whole system is operating on voluntary cooperation. UH, I don't

503
00:30:00,560 --> 00:30:04,120
Speaker 1: think that can be the norm going forward. Our defensive

504
00:30:04,120 --> 00:30:06,560
Speaker 1: have gotten better, we get better all the time, but

505
00:30:06,640 --> 00:30:10,360
Speaker 1: the bad guys get better too. And there but for

506
00:30:10,400 --> 00:30:12,840
Speaker 1: the grace of God in many ways, if you're into

507
00:30:12,880 --> 00:30:16,160
Speaker 1: at least eighteen thousand inner solar winds customers, and that

508
00:30:16,240 --> 00:30:18,920
Speaker 1: only counts the solar winds vector, there may be other

509
00:30:19,080 --> 00:30:21,880
Speaker 1: vectors where the bad guys came in that may not

510
00:30:21,960 --> 00:30:24,760
Speaker 1: be fully in the public domain yet. And the fact

511
00:30:24,760 --> 00:30:27,000
Speaker 1: that this attack was so sophisticated that it could have

512
00:30:27,040 --> 00:30:31,120
Speaker 1: been much more than just selecting specific information to excelt

513
00:30:31,160 --> 00:30:34,600
Speaker 1: rate that it could have been again using your analogy, UH,

514
00:30:34,720 --> 00:30:37,720
Speaker 1: coming into this creation of a series of trap doors

515
00:30:37,720 --> 00:30:40,840
Speaker 1: and companies across the whole supply chain, this ought to

516
00:30:40,880 --> 00:30:45,320
Speaker 1: be a wake up call the past system of voluntary

517
00:30:45,440 --> 00:30:50,480
Speaker 1: only that frankly moves too slowly, cannot stand on a

518
00:30:50,520 --> 00:30:52,480
Speaker 1: going forward basis, and I look forward to working with

519
00:30:52,480 --> 00:30:55,600
Speaker 1: the private sector and for that matter, our partners in government.

520
00:30:55,800 --> 00:31:00,040
Speaker 1: There's not even a requirement that government agencies have to

521
00:31:00,120 --> 00:31:04,960
Speaker 1: fully report. This is a system that's sustainable. And a

522
00:31:05,040 --> 00:31:08,360
Speaker 1: final question for you. Here we are in Washington debating

523
00:31:08,360 --> 00:31:11,040
Speaker 1: on one point nine trillion dollar stimulus talks of even

524
00:31:11,200 --> 00:31:15,560
Speaker 1: starting to negotiate infrastructure. There's some chatter national security digital

525
00:31:15,640 --> 00:31:19,160
Speaker 1: infrastructure should be included in that you you mentioned at

526
00:31:19,200 --> 00:31:22,560
Speaker 1: the start of this interview that everyone expects for countries

527
00:31:22,600 --> 00:31:27,360
Speaker 1: to participate and partake in some type of of espionage

528
00:31:27,880 --> 00:31:30,640
Speaker 1: for not for their own national security interests. We are

529
00:31:30,680 --> 00:31:35,760
Speaker 1: the most developed country technologically on the planet, and yet

530
00:31:36,120 --> 00:31:38,760
Speaker 1: I'm struck by an analogy that I grew up with.

531
00:31:38,840 --> 00:31:42,280
Speaker 1: People who live in glass houses shouldn't throw stones. Does

532
00:31:42,360 --> 00:31:48,040
Speaker 1: our capability, does our strength in cyber and digital infrastructure

533
00:31:48,600 --> 00:31:53,080
Speaker 1: in this situation make us more vulnerable? Coming it does,

534
00:31:53,600 --> 00:31:57,040
Speaker 1: and the fact that we are more reliant on information

535
00:31:57,080 --> 00:31:59,959
Speaker 1: technology than many of our adversaries does make us more

536
00:32:00,000 --> 00:32:02,400
Speaker 1: are vulnerable, and in many ways it's one of the

537
00:32:02,400 --> 00:32:06,000
Speaker 1: reasons why we have been reluctant to punch back UH

538
00:32:06,040 --> 00:32:10,040
Speaker 1: and frankly gave Russia and China and other first tier

539
00:32:10,080 --> 00:32:14,560
Speaker 1: adversaries kind of a running field where they could attack

540
00:32:15,040 --> 00:32:18,040
Speaker 1: attack us with almost impunity. We've seen that. You know,

541
00:32:18,080 --> 00:32:20,360
Speaker 1: we've done very little to respond to OPUM, We've done

542
00:32:20,440 --> 00:32:23,760
Speaker 1: very little to respond to Equifax. We still don't have

543
00:32:24,080 --> 00:32:29,000
Speaker 1: high enough responsibility standards for our private sector companies. So

544
00:32:29,040 --> 00:32:34,120
Speaker 1: this is how the living in a glasshouse analogy makes

545
00:32:34,120 --> 00:32:39,000
Speaker 1: some sense. But this is not going away. And this

546
00:32:39,120 --> 00:32:42,400
Speaker 1: asymmetric type battle is one of the reasons why we

547
00:32:42,440 --> 00:32:45,680
Speaker 1: need to create I think, not only for ourselves but

548
00:32:45,800 --> 00:32:49,360
Speaker 1: with our our partners are allies, something the last administration

549
00:32:49,760 --> 00:32:52,360
Speaker 1: was loth to do. We need to create these level

550
00:32:52,440 --> 00:32:56,000
Speaker 1: of international standards that say, if the bad guys, for example,

551
00:32:56,040 --> 00:32:58,960
Speaker 1: if the bad guys come in and attack this broadly

552
00:32:59,080 --> 00:33:01,760
Speaker 1: into supply chain because other countries other than America were

553
00:33:01,800 --> 00:33:05,800
Speaker 1: affected by solar winds, there needs to be UH potentially

554
00:33:05,920 --> 00:33:08,720
Speaker 1: a stronger response not just from US, but from the

555
00:33:08,760 --> 00:33:12,360
Speaker 1: international community at large. Again, think about that analogy I

556
00:33:12,440 --> 00:33:15,920
Speaker 1: made that even though we have armed conflict, there was

557
00:33:16,120 --> 00:33:18,680
Speaker 1: general rules of the road that says you don't bomb,

558
00:33:18,760 --> 00:33:21,000
Speaker 1: bomb and ambulance with a red cross on it. You

559
00:33:21,040 --> 00:33:25,440
Speaker 1: don't bomb a field hospital. And maybe not perfect analogy,

560
00:33:25,480 --> 00:33:28,840
Speaker 1: but the analogy of that to the patching process that

561
00:33:28,920 --> 00:33:32,840
Speaker 1: goes into software maybe something worth exploring. At least finding

562
00:33:32,920 --> 00:33:35,880
Speaker 1: some commonality with our friends so that when bad guys

563
00:33:35,880 --> 00:33:38,520
Speaker 1: do take these actions, we can punch back and and

564
00:33:39,040 --> 00:33:42,920
Speaker 1: have a firm and forewarned response. That was my interview

565
00:33:42,920 --> 00:33:45,280
Speaker 1: with the Senate Intelligence Committee Chairman Mark Warner. He's the

566
00:33:45,320 --> 00:33:49,440
Speaker 1: Democrat from Virginia. Vick Davis is still with me Bloomberg

567
00:33:49,480 --> 00:33:54,040
Speaker 1: Politics contributor Rick. I gotta be really candid here. Unfortunately,

568
00:33:54,080 --> 00:33:59,160
Speaker 1: I've been covering these data breaches UH for years now

569
00:33:59,240 --> 00:34:01,920
Speaker 1: and they keep coming up, and I don't think that

570
00:34:02,000 --> 00:34:06,160
Speaker 1: they get the level of attention that they should. You know,

571
00:34:06,280 --> 00:34:09,280
Speaker 1: solar winds the and I'm not one of those reporters.

572
00:34:09,280 --> 00:34:11,719
Speaker 1: You know this, Rick from working with me. I'm not

573
00:34:11,800 --> 00:34:14,799
Speaker 1: one of those reporters to raise a false alarm, but

574
00:34:15,320 --> 00:34:19,360
Speaker 1: solar wind there is. This was massive. This there's a

575
00:34:19,400 --> 00:34:22,120
Speaker 1: lot of concern. As the chairman just pointed out that

576
00:34:22,160 --> 00:34:26,719
Speaker 1: they UH, the hackers planted UH cyber trap doors as

577
00:34:26,719 --> 00:34:30,400
Speaker 1: they're known, or cyber grenades to lay the foundation for

578
00:34:30,480 --> 00:34:35,240
Speaker 1: a future attack. And because we are the most technologically

579
00:34:35,360 --> 00:34:42,359
Speaker 1: advanced society, we are reliant upon this technology that, as

580
00:34:42,360 --> 00:34:46,680
Speaker 1: the chairman just outline, makes us have a huge target

581
00:34:46,719 --> 00:34:49,240
Speaker 1: on our backs. Rick. Yeah, Kevin, I thought your question

582
00:34:49,400 --> 00:34:52,800
Speaker 1: directly to the Senator on what's the most concerning aspect

583
00:34:52,840 --> 00:34:56,120
Speaker 1: of this was really telling because he really lated on

584
00:34:56,160 --> 00:34:59,320
Speaker 1: the line. He said, this is a new level of seriousness,

585
00:34:59,480 --> 00:35:02,200
Speaker 1: and and it's not just a one off company attack.

586
00:35:02,520 --> 00:35:06,319
Speaker 1: It attacked eighteen thousand companies, our entire supply chain in

587
00:35:06,360 --> 00:35:08,880
Speaker 1: this area. And and and to be honest with you,

588
00:35:08,960 --> 00:35:13,160
Speaker 1: I was kind of flabbergasted that the recommendations that that

589
00:35:13,200 --> 00:35:17,000
Speaker 1: he was talking about. Uh, I think seemed tame based

590
00:35:17,080 --> 00:35:20,920
Speaker 1: on the kind of crisis, the kind of concern that

591
00:35:20,960 --> 00:35:23,279
Speaker 1: you would have with that kind of an attack. I mean,

592
00:35:23,320 --> 00:35:27,200
Speaker 1: I agree with you, I I haven't seen anything that

593
00:35:27,320 --> 00:35:29,520
Speaker 1: raises to the level of a national emergency. I mean,

594
00:35:29,520 --> 00:35:32,120
Speaker 1: when when we had things like nine eleven, we had

595
00:35:32,120 --> 00:35:38,120
Speaker 1: an entire country transition to see something, say something. And

596
00:35:38,200 --> 00:35:41,240
Speaker 1: yet here we have an attack that is a different

597
00:35:41,320 --> 00:35:44,600
Speaker 1: kind of attack, but but as broad and we're not

598
00:35:44,760 --> 00:35:48,520
Speaker 1: really sort of grasping the real nature of it as

599
00:35:48,560 --> 00:35:51,680
Speaker 1: a society. Vic Davis, your your former boss, the late

600
00:35:51,680 --> 00:35:54,840
Speaker 1: Senator John McCain. I mean, he was obviously the voice

601
00:35:54,880 --> 00:35:59,200
Speaker 1: in conservative politics for decades on on foreign policy. What

602
00:35:59,360 --> 00:36:03,040
Speaker 1: Chairman Warner outlined as it relates to the rules of war,

603
00:36:03,680 --> 00:36:06,080
Speaker 1: and one of the first things you learned as a

604
00:36:06,080 --> 00:36:10,480
Speaker 1: as a geopolitical reporter is that countries act rationally in

605
00:36:10,640 --> 00:36:13,600
Speaker 1: what they perceived to be their best interests. What I

606
00:36:13,640 --> 00:36:17,760
Speaker 1: find striking as a reporter is that there, as Chairman

607
00:36:17,840 --> 00:36:20,920
Speaker 1: Warner outlined, Rick, there aren't those rules of the road

608
00:36:21,680 --> 00:36:25,440
Speaker 1: in cyber warfare. That's haunting. Yeah, and I think some

609
00:36:25,520 --> 00:36:28,680
Speaker 1: of that has been broken down even in other conventional warfare.

610
00:36:28,719 --> 00:36:30,960
Speaker 1: You remember, one of the things John McCain campaigned so

611
00:36:31,000 --> 00:36:35,800
Speaker 1: heavily on is the torture that that was endemic during

612
00:36:35,840 --> 00:36:40,800
Speaker 1: the post UH nine eleven period with the US government

613
00:36:40,960 --> 00:36:43,000
Speaker 1: and UH and he said, you know, you start doing

614
00:36:43,040 --> 00:36:46,120
Speaker 1: those things and you create a new low level standard

615
00:36:46,680 --> 00:36:49,600
Speaker 1: that other countries are going to to to buy by.

616
00:36:49,800 --> 00:36:53,280
Speaker 1: And and so I'm concerned with the notion that somehow

617
00:36:53,280 --> 00:36:55,759
Speaker 1: I we set standards, anybody's going to adhere to them. Look,

618
00:36:55,840 --> 00:36:58,360
Speaker 1: I mean the same country Russia that looks like it

619
00:36:58,440 --> 00:37:03,320
Speaker 1: perpetrated this attack on solar winds, you know, made regular

620
00:37:03,480 --> 00:37:08,160
Speaker 1: use in Syria of chemical weapons against civilian populations in

621
00:37:08,160 --> 00:37:11,200
Speaker 1: that country. They were not playing by the rules, and

622
00:37:11,280 --> 00:37:14,680
Speaker 1: so I really wonder, I mean, I ensued John McCain would,

623
00:37:14,960 --> 00:37:17,120
Speaker 1: because he's done it in the past, take a very

624
00:37:17,120 --> 00:37:20,000
Speaker 1: hard stand against countries that support this kind of activity.

625
00:37:20,280 --> 00:37:24,520
Speaker 1: It's just it's really a really fascinating issue. Rick Davis,

626
00:37:24,600 --> 00:37:28,240
Speaker 1: Bloomberg Politics contributor and a course partner at Stone Court Capital,

627
00:37:28,600 --> 00:37:31,400
Speaker 1: thanks so much for joining us and again, Folk Cybersecurity.

628
00:37:31,960 --> 00:37:34,680
Speaker 1: That solar winds panel tomorrow is going to be uh,

629
00:37:34,800 --> 00:37:36,680
Speaker 1: something that I will be paying a lot of attention to.

630
00:37:36,880 --> 00:37:40,080
Speaker 1: February is Black History Month. The Bloomberg Radio is celebrating

631
00:37:40,120 --> 00:37:42,440
Speaker 1: pivotal moments in US black history each day. Here at

632
00:37:42,440 --> 00:37:45,400
Speaker 1: today's installment is Bloomberg's Erneda Young On This Day in

633
00:37:45,480 --> 00:37:49,640
Speaker 1: Black History. In nine, DJ Jazzy Jeff and the Fresh

634
00:37:49,680 --> 00:37:53,000
Speaker 1: Prince when the very first Rap Grammy for the crossoverhead,

635
00:37:55,320 --> 00:37:58,040
Speaker 1: but the duo also known as Jeff Towns and Will

636
00:37:58,120 --> 00:38:01,000
Speaker 1: Smith were not there to pick up their award when

637
00:38:01,000 --> 00:38:03,480
Speaker 1: it was decided that the Soul Rap Award would be

638
00:38:03,520 --> 00:38:06,840
Speaker 1: announced during the non televised portion of the Grammys. The

639
00:38:06,920 --> 00:38:10,279
Speaker 1: hip hop world boycotted. Smith at the time called the

640
00:38:10,320 --> 00:38:14,640
Speaker 1: idea of an afternoon award. While there were some critics

641
00:38:14,800 --> 00:38:17,840
Speaker 1: supporters of the boycott's thought the stance helped the duo

642
00:38:17,960 --> 00:38:22,319
Speaker 1: cement what would become decades of success in music, television,

643
00:38:22,640 --> 00:38:26,400
Speaker 1: and film. That's today in black history. I'm reneed a

644
00:38:26,480 --> 00:38:30,040
Speaker 1: young Bloomberg Radio, and that does it for us today.

645
00:38:30,080 --> 00:38:33,360
Speaker 1: My name is Kevin Surley. Tomorrow, we've got Congressman Brian's

646
00:38:33,360 --> 00:38:36,600
Speaker 1: style of Republican from Wisconsin and Paul Ryan's old seat.

647
00:38:36,840 --> 00:38:38,840
Speaker 1: That's tomorrow. This is Bloomberg