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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Welcome to the Bloomberg

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Speaker 1: This Weekend Podcast with David Gura, Christina Raffini, and Lisa Matteo.

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Speaker 2: Thanks for joining us for today's selection of conversations from

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Speaker 2: the show.

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Speaker 3: You can listen to our favorite discussions right here on

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Speaker 3: the podcast, but also make sure to join us live

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Speaker 3: every Saturday and Sunday morning starting at seven am Easter.

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Speaker 4: We're on Bloomberg Television, Radio and the Bloomberg Business app,

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Speaker 4: bringing you unique takes and in depth interviews on news, politics,

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Speaker 4: lifestyle and culture.

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Speaker 3: From mistake, a social media saying that ice will be

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Speaker 3: at American airports while accusing Democrats of endangering the US

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Speaker 3: over homeland security funding. Joining us now is Marilynd Conrys

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Speaker 3: from Glenn, Ivy. He's a member of the House Appropriations

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Speaker 3: and Ethics committees. Carson Mavy, thank you very much for

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Speaker 3: being here, and let's start with the goings on on

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Speaker 3: Capitol Hill this weekend. We're looking for any signs of

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Speaker 3: progress here as we've seen this standoff between Republicans Democrats

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Speaker 3: on this funding issue. Do you see any signs of

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Speaker 3: movement here? Any progress as we have the President indicating

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Speaker 3: that ICE is going to be at American airports on

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Speaker 3: Monday morning. Yeah.

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Speaker 5: I'm not sure that that threat is helpful for a

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Speaker 5: couple of reasons. One is that ICE isn't trained to

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Speaker 5: do it. But two, I think, you know, we've got

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Speaker 5: the possibility of actually paying TSA, getting a bill passed

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Speaker 5: that would fix that issue and put the funding forward.

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Speaker 5: There there's two options. The Democrats have offered an option

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Speaker 5: if we can't work something out with respect to ICE,

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Speaker 5: let's just pass a bill that pays everybody else. And

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Speaker 5: I've also seen the Republicans put on the table some

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Speaker 5: agreement potentially to some of the demands that Democrats have

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Speaker 5: made with respect to reforming ICE, although they left off

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Speaker 5: the judicial warrants part, the one thing that the Constitution

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Speaker 5: actually requires, they didn't have in the version that I saw.

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Speaker 5: But I think there's a chance to fix this, you know,

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Speaker 5: sending ICE to the airports. You know, if he wants

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Speaker 5: to do it, fine, and if he doesn't find I

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Speaker 5: think the biggest way to fix this, though, is just

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Speaker 5: to pass the legislation to pay them.

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Speaker 2: Is there any fear you know, Jenlas shut down. Democrats

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Speaker 2: stood on principle and basically lost I mean had to

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Speaker 2: give in or someone as a party game in, and

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Speaker 2: then it was seen as a political loss. Is there

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Speaker 2: any concern that history might repeat itself here, especially as

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Speaker 2: a situation if the situation at airports get worse than

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Speaker 2: the American public really starts to make noise about how

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Speaker 2: this is impacting their daily lives.

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Speaker 5: Well, first of all, let me disagree that it was

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Speaker 5: a loss. You know, I didn't agree with my Senate

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Speaker 5: colleagues who agreed to move forward without getting the actual

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Speaker 5: adjustment for the ACA tax credits. But I think Democrats

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Speaker 5: in the House certainly made the point. And Americans who

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Speaker 5: had their premiums double and triple or quadruple fully understand

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Speaker 5: now that it's totally on the Republicans. Trump and Republicans

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Speaker 5: in Congress refuse to do any kind of extension, even

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Speaker 5: a short term one, try and figure out a way

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Speaker 5: to keep their premiums for jumping those Americans, and there's

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Speaker 5: millions of them are paying the price for that. Now,

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Speaker 5: with respect to the Ice issue, I think it's kind

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Speaker 5: of the same thing. Ice had been solidified in the

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Speaker 5: public mind as a major problem with respect to the

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Speaker 5: Trump administration. They wanted the border closed down. But they

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Speaker 5: didn't want people getting shot in the face and you know,

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Speaker 5: killed for exercising their First Amendment rights. And they didn't

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Speaker 5: like people getting dragged out of their cars and windshields shattered,

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Speaker 5: and teacher aides and gardeners and waitresses getting arrested. They

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Speaker 5: didn't want any of that stuff. And I think we

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Speaker 5: saw that in Minnesota. So I think at the end

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Speaker 5: of the day, we were going to make sure we

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Speaker 5: hold on and get as many of these issues addressed

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Speaker 5: with respect to ICE, because they're out of control and

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Speaker 5: people are dying on that. They died on the streets,

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Speaker 5: and they're dying in custody in some ways because ICE

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Speaker 5: is not not trained to do what they're doing right now,

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Speaker 5: and it shows.

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Speaker 3: Let's shift our focus here to the war, the ongoing

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Speaker 3: war in the Middle East, and we've seen the Pentagon

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Speaker 3: indicate that they're going to request two hundred billion dollars

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Speaker 3: for this war. That could shift a little bit, but

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Speaker 3: still an extraordinary amount of money, about a third of

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Speaker 3: the Pentagon's budget the equivalent of that. I'm curious what

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Speaker 3: your appetite is for a request like that. How do

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Speaker 3: you think that's going to go down on Capitol Hill.

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Speaker 3: I didn't note that Senator John Kennedy noted he would

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Speaker 3: not go along with that without some more hearings on

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Speaker 3: strategy in the course of this war. How is this

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Speaker 3: resonating around the other House of Congress, around the House

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Speaker 3: of Representatives.

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Speaker 5: I mean, I've got zero appetite for that two hundred

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Speaker 5: billion dollars. And the fact that he's got marines heading

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Speaker 5: over there right now strongly suggests he's looking at putting

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Speaker 5: boots on the ground and instead of trying to wrap

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Speaker 5: this up quickly, is looking at the long term type

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Speaker 5: of quag buyer that I think we all want to avoid.

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Speaker 5: So I have zero interest in that, and two hundred

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Speaker 5: billion dollars. You're right, that's a whole lot of money

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Speaker 5: and could have funded, for example, the ACA tax credit

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Speaker 5: extension we were just talking about a moment ago, and

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Speaker 5: some of the other major issues with respect to SNAP

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Speaker 5: benefits and the like. So I think it's way off track.

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Speaker 5: I think it's a number that doesn't make any sense,

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Speaker 5: especially given some of the stated goals. You know, they

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Speaker 5: haven't actually landed on what the mission is, and I

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Speaker 5: think they need to come back to Congress if they

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Speaker 5: really want to have an extended war. Let's have the

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Speaker 5: War Powers Act debate, and let's have a real one

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Speaker 5: this time and have an actual vote to see if

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Speaker 5: the American people really have an appetite for that. So far,

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Speaker 5: they don't, and they've made no effort. Trump Administration's made

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Speaker 5: no effort to persuade the American people and that's showing.

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Speaker 5: And as the gas prices get higher, the American people are,

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Speaker 5: I think, are going to get even less appetite for this.

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Speaker 2: Congresspond, I want to ask you about war powers, because

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Speaker 2: even if Republicans and Democrats agree that they didn't want

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Speaker 2: the President to go forward anymore with this military mission, realistically,

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Speaker 2: is there anything Congress can do to stop the president

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Speaker 2: if he wants to launch a war in Iran or

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Speaker 2: Cuba or anywhere else he decides.

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Speaker 5: Well, funding is a big part, you know, we control

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Speaker 5: the power of the person. That's what the two hundred

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Speaker 5: billion dollar request is about. And public opinion is another

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Speaker 5: big piece too. I think he's really swimming upstream on

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Speaker 5: this one from a public opinion standpoint. You know, gas

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Speaker 5: prices in my area were about two ninety five or

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Speaker 5: so through like a month ago. Now they're getting almost

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Speaker 5: to four dollars, and you know, you layer that on

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Speaker 5: top of the increasing and high prices for groceries due

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Speaker 5: to the tariffs He's put. On top of that the

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Speaker 5: healthcare tagent healthcare credits expiring, and we just talked about

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Speaker 5: that a moment ago. Electricity prices, the affordability crisis that's

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Speaker 5: been spawned almost entirely by the Trump administration is really

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Speaker 5: starting to wear on the American people and undermine his

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Speaker 5: backup base is fine, but the Independents are the ones

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Speaker 5: that are going to drive the midterm elections, and he's

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Speaker 5: way underwater with them, and the Republican Party is increasingly too,

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Speaker 5: so I think you might start seeing some defections from

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Speaker 5: Republicans in Congress because they're going to be worried about

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Speaker 5: getting re elected in November.

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Speaker 3: Last question I have for you about about the war

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Speaker 3: centers on the way that we've seen it way thus far. Yes,

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Speaker 3: there's been a lot of kind of the legacy ballistic

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Speaker 3: missiles that we've seen deployed in the past, but we've

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Speaker 3: seen so many drones being used, so much emphasis on

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Speaker 3: AI warfare going forward here. I know that's something of

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Speaker 3: interest to you. Work research work that's being done in

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Speaker 3: your district on AI and quantum computing. How well positioned

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Speaker 3: is the US to embark on this new kind of

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Speaker 3: warfare as we've seen it play out, yes, in Iran

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Speaker 3: across the Middle East, but also in Ukraine as well.

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Speaker 5: You know, to be frank, I think we've been caught

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Speaker 5: a little flat footed on this, you know, the drone issue.

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Speaker 5: If we've been paying close attention to what's going on

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Speaker 5: in Ukraine and the fact that Iran started supplying drones

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Speaker 5: to Russia in the middle of that, we would have

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Speaker 5: been doing more, I think, to upgrade our ability not

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Speaker 5: just to build drones and have them ready for ourselves,

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Speaker 5: but for countermeasures. So right now what we're looking at

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Speaker 5: is drone attacks and a Byron for you know, their

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Speaker 5: drones cost like twenty thousand bucks.

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Speaker 6: For very sophisticated ones.

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Speaker 5: We're using, you know, antime measures that cost hundreds of

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Speaker 5: thousands of dollars, maybe even a million dollars each, So

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Speaker 5: it's certainly not cost effective, and I think, you know,

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Speaker 5: we've missed the chance to try and have countermeasures that

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Speaker 5: are more affordable and allow us to be more sustained

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Speaker 5: in protecting ourselves and our allies, and I think that's

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Speaker 5: showing right now, so hopefully you can turn the corner

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Speaker 5: on that relatively quickly. And I think add in the

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Speaker 5: efforts with respect to AI and quantum and the like.

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Speaker 5: Trump administrations really attack science and you know, technology a

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Speaker 5: lot in the United States, certainly the university and research level.

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Speaker 3: We've got to turn that around.

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Speaker 5: China's pushing engineers and scientists towards these projects by the thousands.

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Speaker 5: We've been cutting back. We can't afford to do that

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Speaker 5: if we're going to stay competitive with China.

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Speaker 2: All right, congress from Glenn, Ivy, he is on the

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Speaker 2: House Appropriations Committee, Democrat from Maryland, thank you so much

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Speaker 2: for joining us this Sunday.

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Speaker 3: Stay with us for more on Bloomberg this weekend. Right

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Speaker 3: after this, we're gonna turn out of the other side

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Speaker 3: of the aisle and see what's happening there. We spoke

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Speaker 3: with Republican Congressman Greg Stuby of Florida. He serves on

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Speaker 3: the House Intelligence commit Let's take a listen. Congressman, thank

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Speaker 3: you very much for being with us. And over the

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Speaker 3: course of the week, and we've been hearing kind of

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Speaker 3: a variety of arguments for why the US is at

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Speaker 3: war with Iran. We've heard about the prospect of there

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Speaker 3: maybeing more troops sent to the region, maybe some troops

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Speaker 3: on the ground in Iran. I'm curious sort of what

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Speaker 3: your sense is of where this conflict is going directionally

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Speaker 3: and what questions you and your constituents have about what

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Speaker 3: course this is going to take.

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Speaker 7: Yeah, I mean, the President's made it clear and the

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Speaker 7: Pentagon's made it clear. We've decimated their navy. We continue

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Speaker 7: to take out their ballistic missile sites. There was a

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Speaker 7: launch last night.

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Speaker 3: You know.

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Speaker 7: The Iranians said back in February that their missile capability

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Speaker 7: was only like twelve hundred kilometers and they launched an

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Speaker 7: intermediate ballistic missile four thousand kilometers to try to hit

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Speaker 7: one of our UKUS basis. So obviously their capabilities they

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Speaker 7: said they were having and what we thought they had

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Speaker 7: they have much more than that. So at this point,

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Speaker 7: obviously the President and the administration want to secure the

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Speaker 7: Strait of horm Use as much as possible to be

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Speaker 7: able to be able to get back to normal shipping.

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Speaker 7: He's sent eighten warthogs, he sent apaches. I think those

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Speaker 7: ground troops that they're moving to the region, although not

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Speaker 7: on the ground, there are there to secure the strait,

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Speaker 7: That obviously is a focus now because you're seeing oil

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Speaker 7: prices and energy prices increase because the tankers aren't able

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Speaker 7: to get through that straight.

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Speaker 2: But the President has said the US doesn't use the strait,

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Speaker 2: we don't need it, So should the US try to

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Speaker 2: secure that straight?

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Speaker 7: Well, I think it's like a twenty percent of oil

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Speaker 7: that goes through that comes to the United States. It's

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Speaker 7: eighty percent of the world's oil that goes through there.

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Speaker 7: So obviously, even though we can produce at home, that

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Speaker 7: obviously impacts overall global oil rates and oil rates right

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Speaker 7: here at home. We're seeing the price of the pump

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Speaker 7: increase all across the country, so I think they want

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Speaker 7: to get that back to normal.

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Speaker 3: There's also.

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Speaker 7: A number of fertilizer that goes through there. Potash comes

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Speaker 7: through that region, and there's a lot of fertilizers, so

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Speaker 7: you're seeing impacts in the agricultural sector as well. So

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Speaker 7: the President, I think the administration wants rightly so to

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Speaker 7: secure that as much as possible. I think the Japanese

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Speaker 7: yesterday when the Prime Minister was in town, agreed to

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Speaker 7: help assist in securing that. I think once that happens,

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Speaker 7: I think you'll see the economy kind of level back

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Speaker 7: out once that there's able to move traffic through the strait.

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Speaker 3: You served in a rock you're an army jag. I'm

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Speaker 3: curious what your experience in that conflict does to inform

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Speaker 3: your sense of how this one is unfolding. Of course,

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Speaker 3: there was a lot of complaint and concerned about how

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Speaker 3: that was lengthened and how there were so many different

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Speaker 3: rationales delivered for it. How are you thinking about this

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Speaker 3: conflict in the context of that one in which you served.

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Speaker 7: Well, I'm relieved in the fact that the administration and

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Speaker 7: Hegseth and the President have been very clear that we're

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Speaker 7: going in a publishing a mission and we're getting out.

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Speaker 7: We're going to take out their blistic missile capability, we're

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Speaker 7: going to take out their nuclear capability. And we had

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Speaker 7: the Intel hearing this week where I think they kind

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Speaker 7: of got into some of that in the open hearing

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Speaker 7: where the public was able to hear some of that.

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Speaker 7: So I'm very positive about the fact that we're going

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Speaker 7: to go in accomplish the objective and the mission and

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Speaker 7: get out, and we're not going to be there for

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Speaker 7: an extended period of time. We haven't put boots on

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Speaker 7: the ground there like we did in Iraq in the

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Speaker 7: early time in the surge. I serve there from six

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Speaker 7: to seven, which was one of the more violent times.

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Speaker 3: To be there.

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Speaker 7: I don't want to see our troops on the ground

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Speaker 7: in the country. I think having troops in the region

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Speaker 7: to be able to secure the Strait.

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Speaker 3: I think is very important.

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Speaker 7: But we've already shown very quickly that we can go

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Speaker 7: in with both air power and naval power and destroy

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Speaker 7: the things that we need to destroy without putting boots

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Speaker 7: on the ground.

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Speaker 2: I want to fall love on that because the President.

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Speaker 2: They've been reporting the President is considering or as aster

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Speaker 2: plans to possibly take card Island that may or may

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Speaker 2: not require boots on the ground. If the President wanted

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Speaker 2: to do that and require a US military presence on

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Speaker 2: that island, would you support that.

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Speaker 7: Yeah? That island is pretty strategic because it's right there

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Speaker 7: by the Strait, and the Iranians have a number of

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Speaker 7: different assets there that allows them to put mines and

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Speaker 7: those boats they use. So I could see a limited

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Speaker 7: deployment just to that island to ensure that the Iranians

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Speaker 7: can't continue to use that to harbor and harm the

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Speaker 7: shipping through the strait. I think that would be a

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Speaker 7: smart move if that was something that we did in

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Speaker 7: a limited capacity. I think again, we have the ability

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Speaker 7: through our air power, in our naval power to be

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Speaker 7: able to push back on a lot of the capabilities

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Speaker 7: that the Iranians have. I think we've destroyed a number

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Speaker 7: of their blistic missile capabilities. They still have more, which

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Speaker 7: is why you're still seeing strategic targets. But I think

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Speaker 7: a small, limited incursion to that island to ensure that

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Speaker 7: the traffic through the Strait of Hormuse, I think is

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Speaker 7: a good approach, A limited approach where we're ensuring that

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Speaker 7: the international traffic that's going through there is secure as

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Speaker 7: it's traveling through.

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Speaker 2: But as David mentioned, limited actions and release, especially when

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Speaker 2: it comes to the US, trying to do limit actions

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Speaker 2: at least often drag on for years and sometimes decades.

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Speaker 2: Is that not a concern?

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Speaker 7: I mean, I don't have that concern. You saw what

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Speaker 7: happened in Venezuela. We went in, we got Maduro, and

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Speaker 7: we got out, and we don't.

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Speaker 6: Have assets there.

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Speaker 7: And you're seeing a very positive improvement there in the

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Speaker 7: country of Venezuela and the relationships that we've had. We

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Speaker 7: had the Interior Secretary not too long ago. The Venezuelans

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Speaker 7: are openly now selling their oil to us. It's a

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Speaker 7: much different political and economic environment there than it was

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Speaker 7: when Maduro was there, and there was a large group

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Speaker 7: of people from the media that were saying we would

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Speaker 7: be there forever and we would have troops on the ground,

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Speaker 7: and none of that has happened.

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Speaker 3: So I trust the President.

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Speaker 7: I trust what's happening at the Pentagon, and hegseth to

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Speaker 7: make this a limited campaign to go in and strike

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Speaker 7: the strategic things that we need to strike, and then

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Speaker 7: pull out and allow whatever is going to happen with

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Speaker 7: the people of Iran to happen, whether it's a democracy

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Speaker 7: or republic that comes there after the leadership is taken

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Speaker 7: out and they have the opportunity to have democracy there

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Speaker 7: and the.

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Speaker 3: Time we have left. I'd love to ask you about

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Speaker 3: those hearings that run Capitol Hill over the course of

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Speaker 3: last week with dn I Gabbard and CIA Director John Ratliffe.

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Speaker 3: Kind of thread through both of them was this issue

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Speaker 3: of how imminent was the threat from Iran. Curious for

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Speaker 3: your thoughts on that, but more so, there were some

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Speaker 3: test the exchanges surrounding what DNI Gabbard said about who

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Speaker 3: gets to make the determination of what is an iminent threat?

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Speaker 3: And she said, that's the president's purview, that's something that

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Speaker 3: he can do. And I think there are a lot

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Speaker 3: of former intel folks who said, look, that's dismissing the

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Speaker 3: work of a rather large intelligence community. How did you

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Speaker 3: read what she had to say. Is that something that

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Speaker 3: raised any concerns for you? Well, it didn't, And she's right.

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Speaker 7: I mean, at the end of the day, the president

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Speaker 7: is the commander in chief of the military and has

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Speaker 7: the ability to determine whether we need to be defended

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Speaker 7: or need to go kinetic and be aggressive to protect

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Speaker 7: the homeland and protect our bases in the region, and

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Speaker 7: that's a decision that the president ultimately gets to make.

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Speaker 7: I think there was a lot of discussion in the

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Speaker 7: hearing about this immediacy and how we kind of define that.

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Speaker 7: There were a lot more of that discussion in the

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Speaker 7: closed door hearing that was classified in nature, and you

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Speaker 7: heard several of them say when that question came up

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Speaker 7: that there's more information that can be provided in a

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Speaker 7: classified setting. Obviously I can't go into that here, but

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Speaker 7: I think that's I mean, we're seeing the ramifications of that.

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Speaker 7: Just last night, people were saying that the Iranians, the

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Speaker 7: Iranians themselves in February were saying that they didn't have

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Speaker 7: any missiles that went over a thousand kilometers, and they

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Speaker 7: launched one last night four thousand kilometers and thankfully it

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Speaker 7: didn't hit our base. So obviously they have a lot

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Speaker 7: more capabilities that one they have said, and two that

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Speaker 7: a lot of people in the world thought that they

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Speaker 7: had the capabilities to do. Obviously, the President has all

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Speaker 7: of that intelligence in real time and is able to

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Speaker 7: make a determination based off a threat that he sees

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Speaker 7: to our bases in the region and to our allies

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Speaker 7: in the region.

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Speaker 2: Congress quickly before we let you go. Congress is bracing

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Speaker 2: for a Pentagon request that could be as much as

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Speaker 2: two hundred billion dollars to help fund this war. Any

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Speaker 2: concerns about spiraling costs? Do you think that's going to pass?

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Speaker 2: And you and your colleagues support that.

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Speaker 7: For me, it's going to need to be offset by

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Speaker 7: cuts in other places. We're thirty nine trillion dollars in debt.

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Speaker 7: We can't continue to keep spending and not go after

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Speaker 7: the debt and the deficit spending. So for me, it's

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Speaker 7: going to have to be offset some some way, somehow.

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Speaker 7: I think that there's a lot of conservative members like

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Speaker 7: myself that are in a similar circumstance. There are some members,

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Speaker 7: and I've heard the reporting yesterday where there's a couple

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Speaker 7: of members that said they're absolutely not going to support that.

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Speaker 7: So you're going to have a challenge on the floor

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Speaker 7: because we have a two vote majority right now, Thomas

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Speaker 7: Massey's going to be a no. If one more Republican

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Speaker 7: is a no, then it's not going to go. If

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Speaker 7: they try to do a rule on it, which I

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Speaker 7: assumed they would, and those members vote against the rule,

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Speaker 7: we're not even.

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Speaker 3: Going to get to a vote.

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Speaker 7: I don't think you have two thirds majority to be

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Speaker 7: able to pass it. I don't believe, and I don't

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Speaker 7: know this, but I wouldn't assume that the Democrats are

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Speaker 7: going to support a two hundred billion dollars for the

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Speaker 7: Iranian war. Maybe there's a handful of them that would,

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Speaker 7: but even if there's a handful of them that's not

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Speaker 7: going to get you over that two thirds threshold. So

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Speaker 7: that is going to be a challenge getting something like

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Speaker 7: that through the House, just by virtue of the fact

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Speaker 7: that if you have two members on the Republican side

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Speaker 7: that are down on the rule.

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Speaker 3: You're not passing a rule.

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Speaker 7: And I don't believe as we sit here today that

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Speaker 7: the Democrats would support a two thirds suspension bill on

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Speaker 7: something like that.

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Speaker 2: Hun Gerson, thank you so much for joining us. It's

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Speaker 2: been lovely to talk to you. And also, look at

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Speaker 2: that sunny backdrop behind you. We're a little bit jealous

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Speaker 2: here in cold Yeah.

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Speaker 7: Come and join the rest of New Yorkers and everybody

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Speaker 7: else in the great state of Florida.

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Speaker 2: Stay with us for more on Bloomberg this weekend. Right

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Speaker 2: after this, all right, we have a full court press,

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Speaker 2: quite literally for our political panel today. Joining us now

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Speaker 2: is Politico reporter Jason Bieferman. Back with us our Bloomberg's

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Speaker 2: White House reporter Skyler Woodhouse, and Bloomber's senior reporter Miles Miller. Miles,

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Speaker 2: I want to start with you because borders are Tom

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Speaker 2: Holman is on TV right now saying a couple of

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Speaker 2: things I want you to comment on. First of all,

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Speaker 2: he says the airports. ICE could go to the airports

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Speaker 2: as soon as tomorrow. He says, there will I'm being

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Speaker 2: told will go to the airports tomorrow. There is a

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Speaker 2: plan today and they're going to execute it tomorrow. And

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Speaker 2: then also he's saying that ICE will not go into

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Speaker 2: homes without judicial warrants.

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Speaker 8: You know, that will solve one of the issues that

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Speaker 8: we had heard from Democrats, right, Democrats want judicial warrants

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Speaker 8: in order for ICE to go into homes. That does

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Speaker 8: not solve the issue of identification on ICE officers. It

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Speaker 8: does not solve the issue of also wanting ICE officers

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Speaker 8: and agents to not be in mass So it's one

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Speaker 8: piece of the two other things that Democrats need to

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Speaker 8: get this bill done. But yeah, as you said, you know,

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Speaker 8: this first came out from the President in eight fifteen

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Speaker 8: this morning on truth Social saying that the Great Tom

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Speaker 8: Homan is in charge and he will be making sure

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Speaker 8: that ICE agents are at the airports. We talked about

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Speaker 8: this in the first hour. What will this look like likely,

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Speaker 8: you know, assisting TSA agents and making sure that you

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Speaker 8: put your stuff in your bins all correctly. But they

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Speaker 8: don't have training for this, so it'll probably be in

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Speaker 8: a support role more than anything. But then the added

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Speaker 8: layer of ICE agents at airports means that they'll also

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Speaker 8: be looking for people in the country illegally.

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Speaker 3: They said, very you know.

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Speaker 8: It's something that doesn't happen often, and so it'll be

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Speaker 8: interesting to see how this all comes together.

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Speaker 3: It's Scot would pick up on what Miles was talking

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Speaker 3: about there. That is the presence reliance on Tom home

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Speaker 3: and we saw that in Minnesota as well, and I'm

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Speaker 3: curious of your reaction to that and being deployed in

440
00:20:56,359 --> 00:20:59,520
Speaker 3: this circumstance as well, but also just the presence engagement

441
00:20:59,520 --> 00:21:01,800
Speaker 3: with this story. So it's been a standoff that's taken

442
00:21:01,920 --> 00:21:04,760
Speaker 3: more than a month now between Republicans and Democrats. Like

443
00:21:04,840 --> 00:21:07,720
Speaker 3: many legislative battles, he has kind of kept a safe

444
00:21:07,720 --> 00:21:11,200
Speaker 3: remover a fair distance from the goings on Capitol Hill. Yeah.

445
00:21:11,200 --> 00:21:14,600
Speaker 9: Well, Homan is he's been he's been around for a

446
00:21:14,640 --> 00:21:17,560
Speaker 9: very long time, and he's sort of viewed as, you know,

447
00:21:17,640 --> 00:21:21,080
Speaker 9: the adult that gets brought in when when things might

448
00:21:21,160 --> 00:21:23,639
Speaker 9: start to be going crazy. And we saw that with

449
00:21:23,680 --> 00:21:27,199
Speaker 9: what was going on in Minnesota before Christy Noam was

450
00:21:27,200 --> 00:21:31,439
Speaker 9: ousted as the Homeland Security Secretary. Homan came in and

451
00:21:31,480 --> 00:21:35,480
Speaker 9: sort of tried to calm the temperature. So I mean, look,

452
00:21:35,520 --> 00:21:37,760
Speaker 9: it'll be interesting to see how things go. I mean,

453
00:21:37,800 --> 00:21:42,480
Speaker 9: I think it's very interesting that with ICE right now,

454
00:21:42,520 --> 00:21:45,640
Speaker 9: there's obviously a lot of distrust and what we saw

455
00:21:45,680 --> 00:21:50,439
Speaker 9: in Minnesota the way the tensions quickly just grew. And

456
00:21:50,520 --> 00:21:55,000
Speaker 9: obviously TSA agents are sort of viewed as being friendly,

457
00:21:55,040 --> 00:21:56,680
Speaker 9: even though they'll yell at you to take your shoes

458
00:21:56,680 --> 00:21:58,240
Speaker 9: off or I guess put your stuff in the right

459
00:21:58,240 --> 00:22:01,520
Speaker 9: wall you to, but they're viewed a sort of, you know,

460
00:22:01,640 --> 00:22:05,280
Speaker 9: more friendly law enforcement agents and so obviously how.

461
00:22:05,280 --> 00:22:06,560
Speaker 2: Late you are for your flight, but it's.

462
00:22:06,480 --> 00:22:08,399
Speaker 9: Also true, yeah, but I mean, so it'll be interesting

463
00:22:08,400 --> 00:22:11,720
Speaker 9: to see how the relationship between now bringing ICE in

464
00:22:12,160 --> 00:22:16,119
Speaker 9: does with TSA. And maybe it'll bring some calm, but

465
00:22:16,200 --> 00:22:18,280
Speaker 9: it could also just cause more disruption.

466
00:22:18,520 --> 00:22:20,600
Speaker 2: Jason, I want to ask you about the optics of

467
00:22:20,640 --> 00:22:23,159
Speaker 2: this ahead of the midterms, because as we were just

468
00:22:23,200 --> 00:22:24,920
Speaker 2: talking about, one of the things that still hasn't been

469
00:22:24,960 --> 00:22:27,520
Speaker 2: settled is when ICE is out on its immigration work,

470
00:22:27,880 --> 00:22:29,960
Speaker 2: whether or not they will be covering their faces, whether

471
00:22:30,040 --> 00:22:31,439
Speaker 2: or not they will be in a standard uniform. These

472
00:22:31,440 --> 00:22:33,560
Speaker 2: are things democrats want and Republicans have not come to

473
00:22:33,560 --> 00:22:35,960
Speaker 2: the table. What are these guys going to be wearing

474
00:22:36,040 --> 00:22:38,040
Speaker 2: at the airports? What are they going to be looking at?

475
00:22:38,080 --> 00:22:41,040
Speaker 2: And there are already some people like TSA, some people don't.

476
00:22:41,119 --> 00:22:43,880
Speaker 2: There's already a tendency to film TSA when you're mad

477
00:22:43,920 --> 00:22:46,080
Speaker 2: at them. I just feel like the presence of ICE

478
00:22:46,119 --> 00:22:48,280
Speaker 2: agents is not going to help anybody's stress level at

479
00:22:48,320 --> 00:22:50,920
Speaker 2: the airport. But this is a good idea before the midterms.

480
00:22:51,280 --> 00:22:54,200
Speaker 10: I think you raise a lot of questions that everyone's asking. Right,

481
00:22:54,280 --> 00:22:57,280
Speaker 10: we didn't even know until maybe ten twenty minutes ago

482
00:22:57,359 --> 00:22:59,840
Speaker 10: that they really were going to show up on Monday.

483
00:23:00,920 --> 00:23:04,560
Speaker 10: It's clear that, you know, Democrats want change, they want

484
00:23:04,600 --> 00:23:08,760
Speaker 10: real accountability for the ICE officers. But Republicans have this

485
00:23:08,880 --> 00:23:12,840
Speaker 10: leverage in this shutdown where they can create these long

486
00:23:12,840 --> 00:23:15,200
Speaker 10: lines of the TSA and they can kind of force

487
00:23:15,240 --> 00:23:17,359
Speaker 10: their hands and we'll see if there's going to be

488
00:23:17,400 --> 00:23:20,040
Speaker 10: any capitulations, any concessions.

489
00:23:20,440 --> 00:23:22,080
Speaker 3: And what deal kind of gets made.

490
00:23:22,080 --> 00:23:24,680
Speaker 10: But if anything, you know, I think putting ICE officers

491
00:23:24,680 --> 00:23:27,560
Speaker 10: in the airports draws more attention to the chaos that's

492
00:23:27,600 --> 00:23:28,000
Speaker 10: going on.

493
00:23:29,080 --> 00:23:30,840
Speaker 3: Maybe it will speed up these lines.

494
00:23:31,240 --> 00:23:33,639
Speaker 10: We really don't know as we're really you know, flying

495
00:23:33,720 --> 00:23:34,680
Speaker 10: by the seat of our pants.

496
00:23:34,720 --> 00:23:37,639
Speaker 3: I think, Miles, I'm curious kind of who's running the

497
00:23:37,680 --> 00:23:40,200
Speaker 3: show at DHS at this point. We've talked about Tom Mahoman,

498
00:23:40,520 --> 00:23:42,679
Speaker 3: Mark wwin Mullen yet to be confirmed, Christy name on

499
00:23:42,680 --> 00:23:45,520
Speaker 3: a new adventure in a newly created job for her

500
00:23:46,200 --> 00:23:48,439
Speaker 3: at this moment, when it comes to border security, when

501
00:23:48,480 --> 00:23:51,240
Speaker 3: it comes to security of the homeland, who is in charge,

502
00:23:51,240 --> 00:23:52,080
Speaker 3: who's calling the shots?

503
00:23:52,160 --> 00:23:54,800
Speaker 8: Yeah, I think when President Trump wrote on truth Social

504
00:23:54,840 --> 00:23:58,000
Speaker 8: this morning that Tom the Great Tom Homan is in charge,

505
00:23:58,080 --> 00:24:00,080
Speaker 8: that's what he meant, is that he's in charge of

506
00:24:00,080 --> 00:24:04,320
Speaker 8: this operation, and he's also in charge of the issues

507
00:24:04,359 --> 00:24:06,720
Speaker 8: in the homeland. I think, you know, it's going to

508
00:24:06,760 --> 00:24:08,680
Speaker 8: still take some time for Mark Wayn Mullen to get

509
00:24:08,680 --> 00:24:12,440
Speaker 8: in his seat, and Christino has already picked her people

510
00:24:12,440 --> 00:24:15,119
Speaker 8: who she's taking with her to the State Department, And

511
00:24:15,160 --> 00:24:18,040
Speaker 8: so Tom Holman's keeping the wheels on the train, which

512
00:24:18,160 --> 00:24:21,040
Speaker 8: is you know, if you are, you know, a long

513
00:24:21,160 --> 00:24:25,080
Speaker 8: time follower of politics and government, it's not a bad

514
00:24:25,160 --> 00:24:28,679
Speaker 8: thing given his experience at ICE and being you know,

515
00:24:28,720 --> 00:24:30,480
Speaker 8: a career ICE official.

516
00:24:31,920 --> 00:24:33,760
Speaker 2: I think our contromer is just saying they do have

517
00:24:33,800 --> 00:24:35,960
Speaker 2: some sound from Tom Homan from his appearance this morning,

518
00:24:36,000 --> 00:24:37,120
Speaker 2: So we're going to play that for you guys.

519
00:24:37,800 --> 00:24:39,000
Speaker 3: How is that going to work?

520
00:24:39,080 --> 00:24:42,680
Speaker 5: Are ICE agents going to move into American airports starting

521
00:24:42,720 --> 00:24:43,680
Speaker 5: tomorrow Monday?

522
00:24:46,119 --> 00:24:50,639
Speaker 11: Yes, And I'm currently working on the plan now execution,

523
00:24:51,320 --> 00:24:55,240
Speaker 11: working with the Director of ICE and the administrator to

524
00:24:55,359 --> 00:24:58,240
Speaker 11: say the actor administrator. So we'll put together a plan

525
00:24:58,880 --> 00:25:00,960
Speaker 11: today and we'll execute tomorrow.

526
00:25:02,920 --> 00:25:05,560
Speaker 2: Is this something the White House has capacity to do?

527
00:25:05,680 --> 00:25:08,280
Speaker 2: Right now? The President is sounding a little bit tired.

528
00:25:08,320 --> 00:25:10,240
Speaker 2: He's got a couple fronts, more than a couple of

529
00:25:10,240 --> 00:25:13,360
Speaker 2: fronts going. There's a war in Iran, there's problems at home,

530
00:25:13,359 --> 00:25:16,239
Speaker 2: there's a midterm coming up. Is this a fight that

531
00:25:16,240 --> 00:25:18,880
Speaker 2: the President didn't need to pick or does he think

532
00:25:18,920 --> 00:25:21,119
Speaker 2: he's solving one of these problems that is taking so

533
00:25:21,200 --> 00:25:21,720
Speaker 2: much of his time?

534
00:25:21,960 --> 00:25:24,240
Speaker 9: Well, President Trump, one thing you could say he's a

535
00:25:24,560 --> 00:25:29,280
Speaker 9: you know, he's excellent at doing is shifting the narrative. Obviously,

536
00:25:29,280 --> 00:25:33,040
Speaker 9: what we saw with Iran and his new forty eight

537
00:25:33,080 --> 00:25:35,919
Speaker 9: hour window, right.

538
00:25:35,800 --> 00:25:36,359
Speaker 3: He stold the run.

539
00:25:36,359 --> 00:25:38,159
Speaker 2: They've got forty eight hours to clear the straight or he's.

540
00:25:38,000 --> 00:25:40,560
Speaker 9: Exactly so now he's you know, and that that was

541
00:25:40,600 --> 00:25:44,359
Speaker 9: a pretty harsh, harsh threat and now obviously lots of

542
00:25:44,440 --> 00:25:46,680
Speaker 9: questions being raised there, so for him to wake up,

543
00:25:46,920 --> 00:25:49,480
Speaker 9: you know, I know this was talked about yesterday with

544
00:25:49,560 --> 00:25:51,240
Speaker 9: bringing these agents to the airports, but.

545
00:25:52,760 --> 00:25:53,719
Speaker 2: He's got a lot going on.

546
00:25:53,800 --> 00:25:55,440
Speaker 9: So he's going to move the needle when one thing

547
00:25:55,520 --> 00:25:57,840
Speaker 9: is starting to maybe unravel and.

548
00:25:57,720 --> 00:26:00,240
Speaker 2: Not not go the way warm pan out the he

549
00:26:00,280 --> 00:26:00,639
Speaker 2: would like.

550
00:26:00,680 --> 00:26:03,520
Speaker 9: So he's now going to focus on ice agents going

551
00:26:03,520 --> 00:26:06,439
Speaker 9: into airports and talking about how this is you know,

552
00:26:07,240 --> 00:26:10,720
Speaker 9: the Democrats fall. So he likes to move the messaging

553
00:26:11,000 --> 00:26:13,760
Speaker 9: because he wants to waive, you know, something shiny here

554
00:26:14,119 --> 00:26:16,800
Speaker 9: to deflect from something that's going on over there. So

555
00:26:17,080 --> 00:26:19,200
Speaker 9: it'll be interesting to see. But he's got a lot

556
00:26:19,240 --> 00:26:22,679
Speaker 9: going on. I mean, he you know, he's multitasking like

557
00:26:22,760 --> 00:26:25,679
Speaker 9: no other. But presiden, we'll see what comes tomorrow. We'll

558
00:26:25,720 --> 00:26:26,439
Speaker 9: see what comes tomorrow.

559
00:26:26,600 --> 00:26:29,399
Speaker 3: Multitasking Jason perhaps vacillating as well. Let's talk about what

560
00:26:29,400 --> 00:26:32,359
Speaker 3: he's kind of moving attention away from. This forty eight

561
00:26:32,400 --> 00:26:35,240
Speaker 3: hour deadline is designed to keep people, I guess from

562
00:26:35,280 --> 00:26:37,359
Speaker 3: worrying about the fact that that straight has been closed

563
00:26:37,400 --> 00:26:39,119
Speaker 3: remains closed. A lot of analysts saying it could be

564
00:26:39,160 --> 00:26:41,640
Speaker 3: closed for a very long time, some investment banks talking

565
00:26:41,640 --> 00:26:44,280
Speaker 3: about the prospect of two hundred dollars a barrel oil.

566
00:26:45,080 --> 00:26:46,760
Speaker 3: This is a critical issue and one that will become

567
00:26:46,800 --> 00:26:49,000
Speaker 3: more and more critical as we approach the midterm elections,

568
00:26:49,000 --> 00:26:50,520
Speaker 3: and I think certainly it's front of mine for a

569
00:26:50,520 --> 00:26:51,240
Speaker 3: lot of lawmakers.

570
00:26:51,720 --> 00:26:54,600
Speaker 10: You remember when President Trump was elected, that was the

571
00:26:54,680 --> 00:26:57,639
Speaker 10: number one issue, the pocketbook issues. If you remember, I

572
00:26:57,680 --> 00:27:00,320
Speaker 10: remember going to the gas station, seeing those stickers, Joe

573
00:27:00,359 --> 00:27:02,800
Speaker 10: Biden pointing at the price and saying, I did that.

574
00:27:03,240 --> 00:27:05,800
Speaker 3: And here we're in a similar situation.

575
00:27:05,400 --> 00:27:08,959
Speaker 10: Where gas prices are skyrocketing, voters are going into the polls,

576
00:27:08,960 --> 00:27:11,960
Speaker 10: but you know what, I'd be interested. Democrats are already confident.

577
00:27:12,000 --> 00:27:13,359
Speaker 3: Now how long will this last?

578
00:27:13,359 --> 00:27:16,200
Speaker 10: I've seen some reports these high gas prices could last

579
00:27:16,280 --> 00:27:19,520
Speaker 10: until twenty twenty seven. Now we're talking about potentially impacting

580
00:27:19,520 --> 00:27:23,439
Speaker 10: the presidential election, certainly the primaries. So it seems like

581
00:27:23,520 --> 00:27:27,679
Speaker 10: we're kind of in that similar situation where pocketbook stuff

582
00:27:27,720 --> 00:27:32,160
Speaker 10: is top of mind and Democrats are quite cynically, probably

583
00:27:32,200 --> 00:27:35,720
Speaker 10: feeling really good about all the strife that's going.

584
00:27:35,480 --> 00:27:38,240
Speaker 2: On miles when it comes to as really high oil prices.

585
00:27:38,280 --> 00:27:40,520
Speaker 2: We've heard the presidents say, we don't use the straight

586
00:27:40,560 --> 00:27:42,240
Speaker 2: of hor Moose. So it's fine, we'd like it open,

587
00:27:42,280 --> 00:27:44,800
Speaker 2: but it doesn't really impact us. But it does impact

588
00:27:44,800 --> 00:27:47,680
Speaker 2: prices regardless. And one of the things people are now

589
00:27:47,720 --> 00:27:50,399
Speaker 2: talking about is how catastrophic it would be if iron

590
00:27:50,480 --> 00:27:52,480
Speaker 2: were to hit something outside the region, if they hit

591
00:27:52,480 --> 00:27:55,600
Speaker 2: an oil facility in Europe or in the US. Given

592
00:27:55,720 --> 00:27:58,639
Speaker 2: all the turmoil, all the turnover that's happened at these

593
00:27:58,760 --> 00:28:02,439
Speaker 2: US domestic agencies, thinking, the FBI and DHS, give us

594
00:28:02,480 --> 00:28:05,520
Speaker 2: your assessment of whether the national security apparatus is able

595
00:28:05,560 --> 00:28:08,080
Speaker 2: to meet and monitor potential threats to the homeland.

596
00:28:08,240 --> 00:28:11,280
Speaker 8: Yeah, you know, the really interesting thing about the intelligence

597
00:28:11,280 --> 00:28:14,639
Speaker 8: community but also homeland security is that it's not just

598
00:28:14,760 --> 00:28:17,359
Speaker 8: focused on Washington. But you've got the states, you know,

599
00:28:17,400 --> 00:28:19,359
Speaker 8: the fifty states in this country that are that are

600
00:28:19,400 --> 00:28:21,440
Speaker 8: you know, working in fusion centers to make sure that

601
00:28:21,480 --> 00:28:24,439
Speaker 8: they're checking for threats, and you know, that's that's the

602
00:28:24,480 --> 00:28:27,119
Speaker 8: one thing is that you know, while it seems like

603
00:28:27,280 --> 00:28:31,320
Speaker 8: the wheels have come off the train in some parts

604
00:28:31,359 --> 00:28:34,480
Speaker 8: of Washington, you still have the career people in addition

605
00:28:34,560 --> 00:28:39,120
Speaker 8: to having you know, local governments that are working on

606
00:28:39,480 --> 00:28:42,400
Speaker 8: making sure that they're protecting against threats. You know, one

607
00:28:42,440 --> 00:28:47,080
Speaker 8: of the threats right now looks looks like drone threats.

608
00:28:47,120 --> 00:28:49,800
Speaker 8: You know, could there be the potential of some kind

609
00:28:49,840 --> 00:28:53,240
Speaker 8: of drone threat within the interior United States. We have

610
00:28:53,440 --> 00:28:57,080
Speaker 8: just finally gotten approval in this city and in cities

611
00:28:57,120 --> 00:28:59,080
Speaker 8: or across the country to be able to mitigate that

612
00:28:59,160 --> 00:28:59,760
Speaker 8: kind of threat.

613
00:29:00,080 --> 00:29:02,920
Speaker 2: So previously, you know, you could.

614
00:29:02,480 --> 00:29:05,800
Speaker 8: Not should have drone down, No, you could not. And

615
00:29:05,840 --> 00:29:09,480
Speaker 8: now and that has now recently been changed. So it's

616
00:29:09,520 --> 00:29:12,520
Speaker 8: about how local governments are working with the federal government

617
00:29:12,560 --> 00:29:15,040
Speaker 8: to get this kind of stuff done. But you know,

618
00:29:15,280 --> 00:29:17,480
Speaker 8: it's also none of the stuff really happens at the

619
00:29:17,480 --> 00:29:20,840
Speaker 8: top leadership level. You know, they're having the conversations with

620
00:29:20,960 --> 00:29:23,760
Speaker 8: career officials to make sure that you know, this heightened

621
00:29:23,760 --> 00:29:27,640
Speaker 8: threat posture continues to be followed and that threats are

622
00:29:27,640 --> 00:29:29,120
Speaker 8: continued to be looked into.

623
00:29:29,400 --> 00:29:31,880
Speaker 3: Mass I'd loved to end by talking about Robert Mueller,

624
00:29:31,920 --> 00:29:33,720
Speaker 3: who passed away on the twentieth I believe, and the

625
00:29:33,720 --> 00:29:35,920
Speaker 3: President has marked that, I should say, celebrated the death

626
00:29:35,920 --> 00:29:37,440
Speaker 3: of him yesterday in this tweet. Don't if we can

627
00:29:37,440 --> 00:29:40,040
Speaker 3: put it up once again, but get us up to

628
00:29:40,040 --> 00:29:42,400
Speaker 3: speed here on the legacy that he leaves, not the

629
00:29:42,440 --> 00:29:45,120
Speaker 3: legacy is defined by President Trump here, although it certainly

630
00:29:45,360 --> 00:29:47,960
Speaker 3: is one that intersects with Donald Trump's presidency in the

631
00:29:48,000 --> 00:29:51,480
Speaker 3: period thereafter he is Christina pointed out a while ago,

632
00:29:51,720 --> 00:29:55,040
Speaker 3: hugely instrumental in reforming the federal career of investigation after

633
00:29:55,120 --> 00:29:56,840
Speaker 3: nine to eleven. Talk a bit about the work that

634
00:29:56,880 --> 00:29:58,520
Speaker 3: he did over the years leading up to, of course,

635
00:29:58,520 --> 00:29:59,360
Speaker 3: the Russian investigation.

636
00:29:59,440 --> 00:30:03,000
Speaker 8: You think about what happened on nine to eleven, and

637
00:30:03,360 --> 00:30:08,360
Speaker 8: you know the steps that this country took to increase

638
00:30:08,440 --> 00:30:11,920
Speaker 8: their threat posture. After nine to eleven, you know, you

639
00:30:12,040 --> 00:30:15,520
Speaker 8: started to learn about threat levels in the country. You

640
00:30:15,560 --> 00:30:20,960
Speaker 8: started to learn about uh lone wolf terror and homegrown terror,

641
00:30:21,200 --> 00:30:23,560
Speaker 8: and all of that is directly attributed to the way

642
00:30:23,640 --> 00:30:27,760
Speaker 8: that he rebuilt the agency. Uh there were FBI agents

643
00:30:27,760 --> 00:30:30,360
Speaker 8: who were killed on nine to eleven, if you remember,

644
00:30:30,400 --> 00:30:33,240
Speaker 8: the Secret Services Office was in the World Trade Center

645
00:30:33,360 --> 00:30:37,280
Speaker 8: that so that's what happened. There was a good amount

646
00:30:37,280 --> 00:30:40,560
Speaker 8: of intelligence was lost during that attack, but so much

647
00:30:40,680 --> 00:30:44,360
Speaker 8: was learned. We started to learn about the FBI Most

648
00:30:44,360 --> 00:30:46,640
Speaker 8: Wanted List, We started to learn about the inner workings

649
00:30:46,640 --> 00:30:49,560
Speaker 8: of al Kada, putting officers and agents around the country.

650
00:30:50,240 --> 00:30:53,480
Speaker 8: That is his legacy. Of course brought back as special counsel,

651
00:30:53,520 --> 00:30:58,240
Speaker 8: but for good reason because of the years of training

652
00:30:58,440 --> 00:31:01,680
Speaker 8: and experience. But all so the leaders that he was

653
00:31:01,720 --> 00:31:05,440
Speaker 8: able to shape in the department. Uh, moving forward, that's

654
00:31:05,480 --> 00:31:08,440
Speaker 8: a legacy that is huge in the in the FBI.

655
00:31:08,560 --> 00:31:11,040
Speaker 8: And to see those words yesterday, definitely, you know, talking

656
00:31:11,080 --> 00:31:14,200
Speaker 8: with agents and you know, hearing from the FBI Agents Association,

657
00:31:14,640 --> 00:31:17,160
Speaker 8: you know, everybody was shocked and alarmed by what they saw.

658
00:31:17,480 --> 00:31:19,000
Speaker 3: Miles, thank you very much. It's Miles Miller. He's a

659
00:31:19,000 --> 00:31:21,360
Speaker 3: senior reporter here Atloomberg covers Law Enforcement Department from Land

660
00:31:21,360 --> 00:31:24,120
Speaker 3: Security for US out of New York. Jason Bieferman, a politico,

661
00:31:24,480 --> 00:31:26,440
Speaker 3: joining us here on set in New York. And Skylar Woodhouse,

662
00:31:26,640 --> 00:31:28,680
Speaker 3: who covers the White House for US at Bloomberg News

663
00:31:28,720 --> 00:31:30,720
Speaker 3: up here in New York this weekend.

664
00:31:31,000 --> 00:31:34,680
Speaker 4: Stay with us for more on Bloomberg this weekend. Right

665
00:31:34,720 --> 00:31:46,920
Speaker 4: after this, all right.

666
00:31:46,800 --> 00:31:48,360
Speaker 2: So major League Baseball's opening Day.

667
00:31:48,440 --> 00:31:49,960
Speaker 3: You've been waiting for this, Listen.

668
00:31:50,160 --> 00:31:52,000
Speaker 2: We talked about we talked about this in the break.

669
00:31:52,040 --> 00:31:53,920
Speaker 2: I'm not a sports girly, but I do love going

670
00:31:53,960 --> 00:31:56,160
Speaker 2: to a baseball game. And Lisa, you sat down with

671
00:31:56,200 --> 00:31:57,680
Speaker 2: a rod to talk baseball and business.

672
00:31:57,760 --> 00:32:00,000
Speaker 4: Yeah, Alex Roder news so he's you know, he's gone

673
00:32:00,200 --> 00:32:02,760
Speaker 4: beyond sports. He's also a businessman. So I got the owner.

674
00:32:02,760 --> 00:32:04,360
Speaker 4: I got to sit down with him over at Bloomberg

675
00:32:04,440 --> 00:32:06,240
Speaker 4: invest talked to him a little bit of a few

676
00:32:06,280 --> 00:32:09,760
Speaker 4: things about what he looks for an opportunity. Also, when

677
00:32:09,880 --> 00:32:13,360
Speaker 4: are the Yankees going to win another World Series? And finally,

678
00:32:13,440 --> 00:32:15,240
Speaker 4: of course, how we got to start in real estate.

679
00:32:15,600 --> 00:32:17,680
Speaker 12: Look, I was born right here in New York City

680
00:32:17,720 --> 00:32:21,080
Speaker 12: nineteen seventy five, in the shadows of old Yankee Stadium,

681
00:32:21,160 --> 00:32:23,440
Speaker 12: the house that Babe Ruth Belt and I come from.

682
00:32:23,520 --> 00:32:27,760
Speaker 12: Humble beginnings, and you know, we were lifelong renters and

683
00:32:28,160 --> 00:32:29,760
Speaker 12: as a young man, I said, boy, if I can

684
00:32:29,800 --> 00:32:32,360
Speaker 12: ever trade places with the landlord, I will, because we

685
00:32:32,400 --> 00:32:35,360
Speaker 12: had to move every eighteen months. And that kind of

686
00:32:36,360 --> 00:32:38,360
Speaker 12: inspired me to one day be on the other side

687
00:32:38,400 --> 00:32:40,800
Speaker 12: of that trade. And I had an opportunity about ten

688
00:32:40,840 --> 00:32:43,240
Speaker 12: years later in my early twenties, and that's when I

689
00:32:43,440 --> 00:32:46,280
Speaker 12: made my first real estate investment. And it was just

690
00:32:46,280 --> 00:32:48,640
Speaker 12: a small duplex and then we sold that for double

691
00:32:49,280 --> 00:32:51,480
Speaker 12: and we did it again and again, and now over

692
00:32:51,480 --> 00:32:54,400
Speaker 12: the last twenty five years, we've acquired more than twenty

693
00:32:54,480 --> 00:32:58,520
Speaker 12: thousand keys multifamily and it's been a good business.

694
00:32:58,840 --> 00:33:01,720
Speaker 4: It definitely has up to people like Warren Buffett to

695
00:33:01,760 --> 00:33:05,280
Speaker 4: Magic Johnson. What's some of the best advice they've given

696
00:33:05,280 --> 00:33:06,880
Speaker 4: you or something that sticks out in your head.

697
00:33:07,440 --> 00:33:09,760
Speaker 12: I think what Warren Buffett has taught me is, you know,

698
00:33:09,800 --> 00:33:12,320
Speaker 12: stay in your circle of competence right, don't be wide

699
00:33:12,320 --> 00:33:14,400
Speaker 12: and shallow, go narrow and deep. And what are the

700
00:33:14,400 --> 00:33:15,960
Speaker 12: two or three things you do really good that you

701
00:33:15,960 --> 00:33:18,760
Speaker 12: have a competitive advantage. And then when I was playing,

702
00:33:18,760 --> 00:33:20,960
Speaker 12: he would say two things, be the best baseball player

703
00:33:21,000 --> 00:33:23,920
Speaker 12: you can be and be a gentleman because reputation is everything.

704
00:33:24,360 --> 00:33:28,040
Speaker 4: There you go words to remember. So you expanded beyond

705
00:33:28,080 --> 00:33:31,840
Speaker 4: real estate. Your portfolio has grown so much. What do

706
00:33:31,880 --> 00:33:33,520
Speaker 4: you look for in an opportunity?

707
00:33:34,800 --> 00:33:39,040
Speaker 12: Well, I mean the one constant today is change and

708
00:33:39,120 --> 00:33:41,800
Speaker 12: things are changing faster than ever when you look at

709
00:33:41,800 --> 00:33:44,800
Speaker 12: AI and how it's transforming business, some for the good,

710
00:33:44,840 --> 00:33:49,000
Speaker 12: some for the bad. But we do we do three

711
00:33:49,000 --> 00:33:50,760
Speaker 12: things at a our corp. We do real estate, which

712
00:33:50,800 --> 00:33:53,160
Speaker 12: is our legacy business. We do sports. We own our

713
00:33:53,160 --> 00:33:56,360
Speaker 12: two franchises in Minnesota, the Timbules and the Minnesota Links,

714
00:33:56,920 --> 00:33:59,680
Speaker 12: and then we own part of about thirty thirty five

715
00:33:59,680 --> 00:34:02,440
Speaker 12: companies in which we made investments, most of the minority,

716
00:34:02,560 --> 00:34:05,560
Speaker 12: some majority. But we look at companies that we have

717
00:34:06,200 --> 00:34:09,640
Speaker 12: an opportunity to help more than just our capital. Do

718
00:34:09,760 --> 00:34:12,520
Speaker 12: we have a great passion for it, do we understand it,

719
00:34:12,640 --> 00:34:16,319
Speaker 12: and can we actually bring value to the founders? And

720
00:34:16,360 --> 00:34:18,200
Speaker 12: that's really what we think about it. And obviously we

721
00:34:18,239 --> 00:34:19,600
Speaker 12: want to buy at the right price and buy really

722
00:34:19,640 --> 00:34:20,360
Speaker 12: good businesses.

723
00:34:20,800 --> 00:34:23,479
Speaker 4: Now, you've had so much success, but you've also had

724
00:34:23,520 --> 00:34:25,799
Speaker 4: some setbacks, and you've been very open about it. Your

725
00:34:25,880 --> 00:34:30,320
Speaker 4: docuseries Alex Versus a Rod incredible series. You really opened

726
00:34:30,400 --> 00:34:33,399
Speaker 4: up in there, even maybe there were some business transactions

727
00:34:33,440 --> 00:34:35,640
Speaker 4: that didn't go quite the way you wanted. How do

728
00:34:35,719 --> 00:34:38,560
Speaker 4: you handle those setbacks or what lessons have you learned

729
00:34:38,560 --> 00:34:38,920
Speaker 4: from them?

730
00:34:38,960 --> 00:34:39,120
Speaker 10: Well?

731
00:34:39,160 --> 00:34:42,040
Speaker 12: I think look, when I just turned fifty, right, and

732
00:34:42,480 --> 00:34:47,800
Speaker 12: when you've been around a while, you hindsight's always easier

733
00:34:47,840 --> 00:34:49,719
Speaker 12: to go back and go, oh, I wish I didn't

734
00:34:49,719 --> 00:34:51,960
Speaker 12: make that decision of bad decision, but I think you

735
00:34:52,000 --> 00:34:55,160
Speaker 12: have to lead with it. And you know, my mistakes,

736
00:34:55,200 --> 00:34:59,400
Speaker 12: whether there's been in baseball or or anything else. You

737
00:34:59,400 --> 00:35:02,319
Speaker 12: know where used to be ashamed of it. Now I've

738
00:35:02,320 --> 00:35:04,480
Speaker 12: given had a great opportunity to turn the lens. In word,

739
00:35:04,480 --> 00:35:06,600
Speaker 12: do a tremendous amount of work over the last ten

740
00:35:06,680 --> 00:35:13,080
Speaker 12: or fifteen years, and I lead with it now and.

741
00:35:11,160 --> 00:35:12,600
Speaker 6: I just lay all the cards on the table.

742
00:35:12,760 --> 00:35:15,680
Speaker 12: But learning from your mistakes and then being able to

743
00:35:15,960 --> 00:35:17,160
Speaker 12: play offense in the future.

744
00:35:17,560 --> 00:35:18,480
Speaker 6: It's worked well for me.

745
00:35:19,040 --> 00:35:23,640
Speaker 4: Excellent Yankees opening Day. Around the corner, what does this

746
00:35:23,760 --> 00:35:26,160
Speaker 4: current team have? Does it have the DNA to be

747
00:35:26,200 --> 00:35:28,840
Speaker 4: a championship team or maybe what are they missing?

748
00:35:29,600 --> 00:35:32,120
Speaker 12: Well, I think they're going to get some health back,

749
00:35:32,239 --> 00:35:34,920
Speaker 12: you know, Garret Cole coming back is huge.

750
00:35:35,360 --> 00:35:36,640
Speaker 6: It comes down to a few things.

751
00:35:36,640 --> 00:35:42,720
Speaker 12: It comes down to great pitching, good defense, situational hitting. Obviously,

752
00:35:42,719 --> 00:35:44,919
Speaker 12: the Aaron Judge elephant in the room is he's thirty four,

753
00:35:45,400 --> 00:35:48,000
Speaker 12: so that windows start closing at some point. So if

754
00:35:48,040 --> 00:35:50,399
Speaker 12: you're the Yankees and you're the fan base, you want

755
00:35:50,400 --> 00:35:53,160
Speaker 12: to capitalize one of the greatest players of our generation

756
00:35:53,760 --> 00:35:58,000
Speaker 12: to be able to collect the world title. And the

757
00:35:58,120 --> 00:36:00,880
Speaker 12: key is as you get to October before the playoffs

758
00:36:01,360 --> 00:36:03,000
Speaker 12: is they call it the two ahes. You want to

759
00:36:03,040 --> 00:36:05,280
Speaker 12: be healthy and you want to be hot, and hopefully

760
00:36:05,320 --> 00:36:06,160
Speaker 12: they can do that this year.

761
00:36:06,640 --> 00:36:10,000
Speaker 4: What do you think about robot umpires entering the season

762
00:36:10,040 --> 00:36:11,920
Speaker 4: this year? What's your take on it? How is it

763
00:36:11,960 --> 00:36:13,000
Speaker 4: going to change the game?

764
00:36:13,719 --> 00:36:15,560
Speaker 12: You know, you can make an argument that can make

765
00:36:15,600 --> 00:36:18,600
Speaker 12: it better, right, But I'm a big proponent for umpires.

766
00:36:18,600 --> 00:36:23,120
Speaker 12: I think umpires are in many ways. They're underpaid, they're

767
00:36:23,200 --> 00:36:26,239
Speaker 12: underutilized and underappreciated. I mean, if you think about an

768
00:36:26,280 --> 00:36:30,000
Speaker 12: umpire referee in sports, you have you know, you have

769
00:36:30,080 --> 00:36:32,520
Speaker 12: nine players from each team screaming at you. You have both managers,

770
00:36:32,520 --> 00:36:34,360
Speaker 12: you have two catches that are not happy, you have

771
00:36:34,400 --> 00:36:36,640
Speaker 12: hitters that are not happy. You have But at the

772
00:36:36,719 --> 00:36:37,880
Speaker 12: end of the day, when you have some of the

773
00:36:37,920 --> 00:36:40,680
Speaker 12: great umpires that I've been around and I've been fortunate

774
00:36:40,760 --> 00:36:43,920
Speaker 12: to work with, and I can think of over a

775
00:36:43,920 --> 00:36:46,600
Speaker 12: dozen of them, they make the game better. They control

776
00:36:46,640 --> 00:36:49,480
Speaker 12: the pace of the game. They're a big part of

777
00:36:49,480 --> 00:36:52,160
Speaker 12: the game, and I just think we can't really forget

778
00:36:52,320 --> 00:36:54,480
Speaker 12: how important they are because it's still a human game

779
00:36:54,480 --> 00:36:55,320
Speaker 12: played by humans.

780
00:36:55,760 --> 00:36:57,920
Speaker 3: Yeah, they get a bad rap, I think.

781
00:36:57,760 --> 00:36:59,600
Speaker 6: So, and they're very very good.

782
00:36:59,640 --> 00:37:01,480
Speaker 12: I mean, if you think about an umpire who may

783
00:37:01,520 --> 00:37:04,120
Speaker 12: have to call three hundred balls and strikes and you

784
00:37:04,200 --> 00:37:06,080
Speaker 12: miss five, they're going to scream at you for fifty.

785
00:37:06,640 --> 00:37:06,879
Speaker 9: Right.

786
00:37:06,960 --> 00:37:10,000
Speaker 6: So I'm a big believer in umpires. I'm a little

787
00:37:10,000 --> 00:37:10,719
Speaker 6: bit old school there.

788
00:37:10,840 --> 00:37:14,000
Speaker 4: Okay, let's take you from baseball to basketball. You joined

789
00:37:14,000 --> 00:37:17,440
Speaker 4: the ownership team behind Minnesota timb rules and Minnesota Links.

790
00:37:18,400 --> 00:37:22,160
Speaker 4: The landscape is changing for sports management ownership kind of

791
00:37:22,160 --> 00:37:25,799
Speaker 4: going away from the family owned business. How do you think,

792
00:37:25,880 --> 00:37:27,920
Speaker 4: I mean big money involved as well, how do you

793
00:37:28,000 --> 00:37:33,680
Speaker 4: think it's going to impact sports or particularly the sports fans, which.

794
00:37:33,440 --> 00:37:35,640
Speaker 12: Part that the fact that you have institutional capital coming

795
00:37:35,640 --> 00:37:38,960
Speaker 12: in correct. Well, it's interesting because you know this happened

796
00:37:38,960 --> 00:37:41,520
Speaker 12: a little bit after COVID and I remember sixth Street

797
00:37:41,600 --> 00:37:43,520
Speaker 12: made a big investment into the San Antonin Spurs and

798
00:37:43,520 --> 00:37:46,160
Speaker 12: that was like a big wow moment. I think it's

799
00:37:46,160 --> 00:37:48,920
Speaker 12: a great tool. I think you still have to have guardrails,

800
00:37:49,400 --> 00:37:51,160
Speaker 12: but I think so far for the NBA has worked

801
00:37:51,160 --> 00:37:53,920
Speaker 12: went really well. NFL is now dipping their toe in

802
00:37:53,960 --> 00:37:56,480
Speaker 12: whether we can buy ten percent from institutional capital.

803
00:37:56,880 --> 00:37:58,640
Speaker 6: That's also going to be very interesting to watch.

804
00:38:00,040 --> 00:38:02,760
Speaker 12: I think for baseball, where it is right before big

805
00:38:02,840 --> 00:38:06,359
Speaker 12: collective bargain agreement negotiation, it'll be interesting because I do

806
00:38:06,400 --> 00:38:09,120
Speaker 12: think that right now, I'm a controlling by nature. Is

807
00:38:09,160 --> 00:38:12,920
Speaker 12: the best time to invest into a baseball team because

808
00:38:12,960 --> 00:38:19,000
Speaker 12: of all the other unanswered questions, And it's very fluid

809
00:38:19,080 --> 00:38:21,240
Speaker 12: right now. People don't know what's gonna happen with the CBA.

810
00:38:21,360 --> 00:38:23,120
Speaker 12: Are you going to strike or you're not going to strike?

811
00:38:24,640 --> 00:38:26,400
Speaker 12: There's a lot of moving parts. What happens with regional

812
00:38:26,440 --> 00:38:28,879
Speaker 12: sports networks is rob Manford then to try to bund

813
00:38:28,920 --> 00:38:31,400
Speaker 12: them all the all of them, just like Roger Goodell

814
00:38:31,440 --> 00:38:34,040
Speaker 12: has in the NFL, and it's worked out beautifully for them.

815
00:38:34,360 --> 00:38:37,919
Speaker 12: So because there's so many questions, it's a good time

816
00:38:37,960 --> 00:38:39,520
Speaker 12: to buy at a pretty decent multiple.

817
00:38:40,000 --> 00:38:42,400
Speaker 4: And there's been a lot going on in Minnesota itself.

818
00:38:42,600 --> 00:38:44,560
Speaker 4: I mean, you've had the ice agents on the streets.

819
00:38:45,400 --> 00:38:47,799
Speaker 4: How do you talk to the team about this because

820
00:38:47,800 --> 00:38:50,640
Speaker 4: obviously they're going through a lot mentally as well through

821
00:38:50,680 --> 00:38:50,920
Speaker 4: all this.

822
00:38:51,200 --> 00:38:52,120
Speaker 6: Yeah, you know, it's.

823
00:38:53,520 --> 00:38:56,960
Speaker 12: Very very sad time in Minnesota and for the people

824
00:38:56,960 --> 00:39:01,000
Speaker 12: there that have to endure so much. The one great

825
00:39:01,000 --> 00:39:03,919
Speaker 12: thing about sports, it's the time that we can all

826
00:39:03,960 --> 00:39:07,360
Speaker 12: agree that we can all wear the color blue for

827
00:39:07,920 --> 00:39:10,480
Speaker 12: the timboles or purple or whatever color we're wearing that night,

828
00:39:10,920 --> 00:39:13,600
Speaker 12: and it unifies people. You know, we have twenty thousand

829
00:39:13,600 --> 00:39:16,440
Speaker 12: people every night of our game. We have a game tonight,

830
00:39:17,080 --> 00:39:19,240
Speaker 12: and it's just great when you have twenty thousand people

831
00:39:19,280 --> 00:39:24,640
Speaker 12: cheering for one team, smiling, hugging, not asking political questions,

832
00:39:24,680 --> 00:39:27,960
Speaker 12: not caring about political issues, but really caring about can

833
00:39:28,040 --> 00:39:31,400
Speaker 12: the Timbles win tonight? Ken Anthony Edward score thirty five points?

834
00:39:31,440 --> 00:39:34,200
Speaker 12: And I think the Timboles and the Links have been

835
00:39:34,840 --> 00:39:37,680
Speaker 12: a uniter and really a great medicine for the people

836
00:39:37,680 --> 00:39:38,560
Speaker 12: of Minneapolis.

837
00:39:38,840 --> 00:39:41,600
Speaker 4: And I have to talk about the deal. Jason Kelly,

838
00:39:41,640 --> 00:39:43,920
Speaker 4: your partner in this What can we expect for the

839
00:39:43,960 --> 00:39:44,480
Speaker 4: next season.

840
00:39:44,960 --> 00:39:47,239
Speaker 12: Well, we have some incredible guests which we're not ready

841
00:39:47,239 --> 00:39:49,759
Speaker 12: to announce yet, but the first three seasons have been

842
00:39:49,800 --> 00:39:52,279
Speaker 12: really great. Jason Kelly has been a dream partner. He's

843
00:39:52,320 --> 00:39:56,120
Speaker 12: a great quarterback. I call him Tom Brady, and we

844
00:39:56,200 --> 00:39:58,200
Speaker 12: have a lot of fun. We have some incredible guests,

845
00:39:58,560 --> 00:40:01,560
Speaker 12: and now we're having really really prominent people calling us

846
00:40:01,600 --> 00:40:03,600
Speaker 12: to say, hey, can we get on the deal, which

847
00:40:03,600 --> 00:40:04,600
Speaker 12: is really exciting for us.

848
00:40:04,880 --> 00:40:07,680
Speaker 4: Have you learned anything from this show business wise?

849
00:40:07,920 --> 00:40:10,560
Speaker 6: I've learned so much. I mean, really is a masterclass.

850
00:40:10,600 --> 00:40:12,960
Speaker 12: When you see the type of people, both men and women,

851
00:40:13,800 --> 00:40:16,080
Speaker 12: from all walks of life, from all walks of fields

852
00:40:16,080 --> 00:40:20,600
Speaker 12: of business and sports. They just give you some incredible gems,

853
00:40:20,680 --> 00:40:23,800
Speaker 12: some great nuggets. And if you young entrepreneurs, must watch

854
00:40:23,840 --> 00:40:26,640
Speaker 12: TV because you can learn so much in a matter

855
00:40:26,680 --> 00:40:27,960
Speaker 12: of thirty or forty five minutes.

856
00:40:28,239 --> 00:40:30,480
Speaker 4: All Right, you can listen to the deal. That's what

857
00:40:30,600 --> 00:40:33,400
Speaker 4: Alex Rodriguez, Jason Kelly. Anywhere you get your podcasts, you

858
00:40:33,400 --> 00:40:35,840
Speaker 4: can also watch it too. It's on Bloomberg Originals and

859
00:40:35,840 --> 00:40:37,160
Speaker 4: also on Bloomberg TV.

860
00:40:39,600 --> 00:40:42,520
Speaker 2: Thanks for joining us on today's Bloomberg This Weekend podcast.

861
00:40:42,680 --> 00:40:44,919
Speaker 2: Don't forget to tune in live for the show every

862
00:40:44,920 --> 00:40:47,600
Speaker 2: Saturday and Sunday morning, starting at seven am Eastern.

863
00:40:47,680 --> 00:40:50,680
Speaker 3: We're on Bloomberg Television, Radio and the Bloomberg Business App,

864
00:40:50,800 --> 00:40:54,920
Speaker 3: bringing you unique takes and in depth interviews on news, politics, lifestyle,

865
00:40:55,040 --> 00:40:55,600
Speaker 3: and culture.