WEBVTT - CUNY's Brown: 'Messiness, Reconciliation' at Conventions(Audio)

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<v Speaker 1>Broadcasting live to New York, Boolberg even to Washington, d C,

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<v Speaker 1>bloom to Boston, BLUEMBERG twelve D to San Francisco, Bloomberg

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<v Speaker 1>nine to the country. She is exam General one nine

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<v Speaker 1>and around the globe the Bloomberg Radio plus Appen Bloomberg

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<v Speaker 1>dot com. This is taking stock. I'm cathing Hayes along

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<v Speaker 1>with Pim Fox. It's not just about watching the feder Reserve.

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<v Speaker 1>This week, traders investors in the United States and actually

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<v Speaker 1>around the world are watching the Democratic National Convention, where

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<v Speaker 1>the opening yesterday in Philadelphia saw Hillary Clinton booed every

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<v Speaker 1>time her name was mentioned. She was boot though by

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<v Speaker 1>supporters of Bernie Sanders. PIM, We're gonna be looking about

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<v Speaker 1>what's going on there and the difficulties she may have

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<v Speaker 1>and pulling the party together. Now, yes, we'll also be

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<v Speaker 1>talking about the video game industry in the United States.

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<v Speaker 1>It is worth more than twenty three billion dollars. Are

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<v Speaker 1>talking PlayStation xbox. We're gonna get all the details right now.

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<v Speaker 1>Let's get details from Charlie Pellert and the Bloomberg News,

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<v Speaker 1>from the Bloomboog Bloomberg Business Flag and I thank you

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<v Speaker 1>very much, PIM, thank you. Kathleen Hayes a mixed picture

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<v Speaker 1>for US equities, A little change right now in the SMP,

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<v Speaker 1>fluctuating between gains and losses. It is down by less

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<v Speaker 1>than half a point down, Industrials down twenty eight A

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<v Speaker 1>dropped there of two tents of one percent, nes stank

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<v Speaker 1>of eight a game of two tents of one percent.

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<v Speaker 1>Got a trading halt now on shares of analog devices

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<v Speaker 1>and also linear technology. People familiar with the matters say

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<v Speaker 1>Analog is in advanced talks to acquire linear technology. Leco

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<v Speaker 1>Global acquiring Visio for two billion is the Chinese technology

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<v Speaker 1>conglomerate expands further in the US Visio as a maker

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<v Speaker 1>of inexpensive flat screen TVs. Earnings News Twitter after the

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<v Speaker 1>bell down one point seven percent, also reporting Apple it

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<v Speaker 1>is down eight tens of one percent. Tom Giles is

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<v Speaker 1>Bloomberg's executive editor for Technology. It's really hard to really

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<v Speaker 1>move the needle a company as large as Apple. We

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<v Speaker 1>hear a lot of talk about a TV product, but

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<v Speaker 1>they have a lot of problems getting all of the

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<v Speaker 1>different content providers behind that product. We hear a lot

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<v Speaker 1>about the car product that's not going to come along

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<v Speaker 1>for a long time, and when it does, how game

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<v Speaker 1>changing can it really be? So you do have Apple

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<v Speaker 1>coming in and doing things like returning cash to shareholders,

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<v Speaker 1>issuing dividends, acting like one of these comp like an

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<v Speaker 1>older company that's not high growth. Gold up ninety cents,

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<v Speaker 1>the gain of point one percent, Unce crude oil forty two,

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<v Speaker 1>Natia barrel for West Texas intermediate crude down twenty three

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<v Speaker 1>cents to drop there of point five percent, and a

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<v Speaker 1>three thirty two on Wall Street. Now we'll look at

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<v Speaker 1>the other stories making news. Thank you, Charlie from the

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<v Speaker 1>Bloomberg Newsroom. I'm Jill Schneider. This news update is brought

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<v Speaker 1>to you by the Jeep Grand Cherokee, the most awarded

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<v Speaker 1>I wanted your local Jeep dealer today. Vermont Senator Bernie

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<v Speaker 1>Sanders says he empathizes with young people who feel disappointed

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<v Speaker 1>after the results of the Democratic primary. Sanders spoke at

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<v Speaker 1>a Bloomberg Politics breakfast in Philadelphia this morning. I think

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<v Speaker 1>that Donald Trump is a danger to this country. I

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<v Speaker 1>think he's a demagogue. I think that it's not just

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<v Speaker 1>me who talked to some of his conservative Republican colleagues

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<v Speaker 1>who will tell you that they've perceived that he does

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<v Speaker 1>not understand the Constitution of the United States. Republican presidential

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<v Speaker 1>nominee Donald Trump says he has a ten point plan

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<v Speaker 1>to clean up the Veterans Affairs Department. Trump gave details

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<v Speaker 1>while speaking at the VFW National Convention in Charlotte, North Carolina. Today,

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<v Speaker 1>I'm going to use every lawful authority to remove and

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<v Speaker 1>discipline Federal employees are managers who reach their public trust.

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<v Speaker 1>Tim Kaine's wife has resigned as Virginia's Secretary of Education

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<v Speaker 1>and Holding, stepped down from the cabinet level post because

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<v Speaker 1>her husband has been picked to be Hillary Clinton's running mate.

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<v Speaker 1>Atlantic City plans to cover its upcoming bond payments even

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<v Speaker 1>though it has yet to receive a promised bridge loan

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<v Speaker 1>from New Jersey Ba's, according to the mayor's chief of staff,

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<v Speaker 1>who says the city has every intention of meeting all

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<v Speaker 1>financial obligations. This week, Global News twenty four hours a day,

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<v Speaker 1>powered by more than journalists and analysts in more than

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<v Speaker 1>one twenty countries. I'm Jill Schneider. This is Bloomberg, Charlie,

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<v Speaker 1>and we are brought to by National Realty Providers of

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<v Speaker 1>one hundred percent satisfaction guaranteed New York City realty investments.

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<v Speaker 1>See them at n r I, a dot net recapping stocks,

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<v Speaker 1>little change Desk and P five hundred indext down half

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<v Speaker 1>a point. I'm Charlie Peloton. That's a Bloomberg business flash.

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<v Speaker 1>This is taking stock with Pim Fox and Kathleen Hayes

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<v Speaker 1>on Bloomberg Radio. At the Democratic National Convention this evening,

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<v Speaker 1>form President Bill Clinton will officially nominate Hillary Clinton to

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<v Speaker 1>be the Democratic presidential candidate. Here to tell us more

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<v Speaker 1>as Heath Brown Assistant Professor of Public Policy at John

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<v Speaker 1>Jay College of Criminal Justice and the Graduate Center. He

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<v Speaker 1>is also the author of Pay to Play Politics, How

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<v Speaker 1>Money Defines the American Democracy. Heath Brown tell us about

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<v Speaker 1>the speakers at tonight's uh scheduled convention and what that

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<v Speaker 1>tells you about the effort of the Democrats to get

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<v Speaker 1>out the vote. Yeah. I think there's so many interesting

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<v Speaker 1>things that will see tonight that build off of what

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<v Speaker 1>we saw Monday night, highlighted by the participation of some

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<v Speaker 1>of the most visible political figures of the last number

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<v Speaker 1>of years, including the former president Bill Clinton. I think

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<v Speaker 1>that what we're going to see is the way in

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<v Speaker 1>which those figures can help to start to move the

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<v Speaker 1>campaign from the phase that we've been in, which is

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<v Speaker 1>choosing the candidate, to starting to turn out the vote.

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<v Speaker 1>And sometimes that's done with the motivation that comes from

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<v Speaker 1>seeing people like Bill Clinton and some of these other

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<v Speaker 1>very visible leaders take the stage and announce how they

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<v Speaker 1>see this election and why they see it as so important.

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<v Speaker 1>So I think that's some of what will see tonight.

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<v Speaker 1>M hmm. Well, I'm sure they want to ignore the

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<v Speaker 1>wiki leaks, uh leak on all the email from UH

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<v Speaker 1>in d n C. Now, of course w Wasser and

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<v Speaker 1>Schultz has stepped down as the head of the d

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<v Speaker 1>n C. But uh, to what extent does that somehow

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<v Speaker 1>have to be dealt with? To what extent does it

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<v Speaker 1>sort of linger? Um? And is it best just to

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<v Speaker 1>ignore it? Move on? Get Bernie Sanders supporters to your

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<v Speaker 1>supporters to not boo and Hillary Clinton's names mentioned? Um?

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<v Speaker 1>How do they deal with that part of it? Yeah?

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<v Speaker 1>I think what we're learning is conventions are not always tidy,

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<v Speaker 1>but they certainly can be exhilarating, and I think we

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<v Speaker 1>saw that demonstrated on Monday with the untidiness of the

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<v Speaker 1>afternoon and in the exhilaration of the first ladies. Can

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<v Speaker 1>I just champion there though, because they're reporting The media

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<v Speaker 1>reported on their Republican National Convention bedlam when there there

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<v Speaker 1>was a role call vote that was overwritten, and I

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<v Speaker 1>thought to myself, doesn't anybody watch political conventions? I mean,

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<v Speaker 1>to me, it is exciting. It's interesting to see in

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<v Speaker 1>a way the discord in a and in both parties,

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<v Speaker 1>some real, active, active actions. That's I couldn't agree more.

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<v Speaker 1>I think think what we're what we saw last week

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<v Speaker 1>and what we're seeing this week is the Democratic Party

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<v Speaker 1>and the Republican Party last week trying to reconcile all

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<v Speaker 1>sorts of internal conflicts over the chosen candidate and also

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<v Speaker 1>policy in real time on television. I think this shows

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<v Speaker 1>us a side of politics that we don't often get

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<v Speaker 1>to see, which is some of these disagreements. I think

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<v Speaker 1>this is one of the reasons why I think simply

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<v Speaker 1>watching these conventions is good for our democracy, even if

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<v Speaker 1>they're not exactly they don't play out in the scripted

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<v Speaker 1>way that we have come to a spect of political event.

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<v Speaker 1>I think those disagreements that that you're just you just

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<v Speaker 1>described make conventions a very very interesting part of the election,

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<v Speaker 1>and they they the messiness and the reconciliation of the differences,

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<v Speaker 1>including things like the wicked LEAs emails, is exactly what

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<v Speaker 1>makes them so very interesting. To the appearance of speakers

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<v Speaker 1>such as us a senator from New York, a Democrat,

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<v Speaker 1>Chuck Schumer, as well as former Secretary of State Madeline Albright,

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<v Speaker 1>a video message from a video message from former President

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<v Speaker 1>Jimmy Carter, and then I believe also an introduction by

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<v Speaker 1>Meryl Street. This is designed to give people in a sense,

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<v Speaker 1>speaking lines when they go out and try to get

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<v Speaker 1>people to the polls. Yeah, I think that's so interesting

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<v Speaker 1>in some ways. I think what we see at the

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<v Speaker 1>convention is the the largest and most visible focus group

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<v Speaker 1>that a party can hold. And so they know they've

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<v Speaker 1>got a number of months before their election and they

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<v Speaker 1>have to do political advertise eismans, and they have to

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<v Speaker 1>write stump speeches, they have to create the content of

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<v Speaker 1>their argument to the American people. They have this opportunity

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<v Speaker 1>to try out lots of different lines, different angles of attack,

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<v Speaker 1>different images that they might want to put put into

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<v Speaker 1>those ads, and I think we see that we've even

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<v Speaker 1>testing it with the amount of applause that comes from

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<v Speaker 1>the convening, from the reaction on social media, from the

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<v Speaker 1>response of pundit, and I think that for that reason,

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<v Speaker 1>exactly what you suggest is right. We see what might

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<v Speaker 1>work and might what might ring flat, and over the

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<v Speaker 1>next couple of months, we'll see that replayed numerous times

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<v Speaker 1>as the actual candidates go out onto the stump trying

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<v Speaker 1>to win votes. You entwers have made my question, Heath,

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<v Speaker 1>we saw Donald Trump getting a post convention bounds, moving

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<v Speaker 1>ahead of a CNN pull the last couple of days

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<v Speaker 1>for each candidate, what is the number one issue that

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<v Speaker 1>they are going to hammer on to be the one

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<v Speaker 1>that wins the race in November. Well, I think it's

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<v Speaker 1>really two too early to see that, but I think

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<v Speaker 1>in the convention, in the convention this week, we see

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<v Speaker 1>the Democrats starting to play a couple of these out.

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<v Speaker 1>I think that the repetition of the video and the

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<v Speaker 1>image of Donald Trump apparently making fun of a reporter

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<v Speaker 1>during the campaign is something that seems to be uh

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<v Speaker 1>an issue and an angle that the Democrats appear to

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<v Speaker 1>care about. And I think one of the interesting angle

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<v Speaker 1>aspects of that is that this connects to another thing

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<v Speaker 1>that was going on last night and we'll go on

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<v Speaker 1>again today, which is the Democrat taking credit for some

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<v Speaker 1>of their policy victories, like the Individuals with Disabilities Education Act.

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<v Speaker 1>That's something I think they're going to hit back on it.

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<v Speaker 1>Keith Brown, thank you so much for joining us, Assistant

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<v Speaker 1>Professor of Public Policy at the City University of New York.

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<v Speaker 1>That's tuney looking at the Democratic National Convention for US today.

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<v Speaker 1>I'm Caffeine Haslam with PM Fox. Is this taking Stock

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<v Speaker 1>on Bloomberg Radio? And this is Bloomberg coming up on

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<v Speaker 1>taking Stock, PlayStation's Xbox, the twenty three billion dollar video

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