1
00:00:00,280 --> 00:00:10,440
Speaker 1: Bloomberg Audio Studios, podcasts, radio news. But I immediately thought

2
00:00:10,440 --> 00:00:12,160
Speaker 1: it was like, wow, this is, you know, like Ocean's

3
00:00:12,160 --> 00:00:14,240
Speaker 1: eleven kind of heist.

4
00:00:15,040 --> 00:00:17,760
Speaker 2: Alan Katz is Bloomberg's Paris bureau chief.

5
00:00:17,960 --> 00:00:20,840
Speaker 1: But it all happened so fast, and it does give

6
00:00:20,880 --> 00:00:23,400
Speaker 1: you this idea that there were you know, Brad Pitt

7
00:00:23,440 --> 00:00:25,599
Speaker 1: and George Cleaner definitely were hanging out somewhere really like

8
00:00:25,640 --> 00:00:27,600
Speaker 1: thinking about this for a long time before they before

9
00:00:27,640 --> 00:00:29,280
Speaker 1: they went through it.

10
00:00:29,440 --> 00:00:32,600
Speaker 2: Sunday morning, around nine thirty on the right bank, the

11
00:00:32,680 --> 00:00:35,159
Speaker 2: heist taking just minutes in broad daylight.

12
00:00:35,360 --> 00:00:37,239
Speaker 1: We were just ready to go in to see them.

13
00:00:37,280 --> 00:00:40,400
Speaker 2: Ona Lisa tourists through there to see the world's most

14
00:00:40,400 --> 00:00:42,680
Speaker 2: famous museum. Authorities say three.

15
00:00:42,479 --> 00:00:45,200
Speaker 1: To four robbers arrived at the museum in Paris, used

16
00:00:45,200 --> 00:00:47,879
Speaker 1: a ladder at one point and a freight elevator to

17
00:00:47,920 --> 00:00:49,000
Speaker 1: reach the Apollo room.

18
00:00:49,080 --> 00:00:50,960
Speaker 2: The suspects making off with eight.

19
00:00:50,720 --> 00:00:55,160
Speaker 3: Items, elaborate diamond brooches, two diadems, and Napoleon's wife and

20
00:00:55,280 --> 00:00:59,760
Speaker 3: pursue Genie's diamond encrusted golden crown, which prosecutors say was

21
00:00:59,800 --> 00:01:03,480
Speaker 3: real covered at the scene.

22
00:01:05,720 --> 00:01:07,520
Speaker 2: I'm David Gera, and this is the big take from

23
00:01:07,560 --> 00:01:10,600
Speaker 2: Bloomberg News Today on the show A Brazen Robbery at

24
00:01:10,600 --> 00:01:12,520
Speaker 2: the Louver, a look at who could have pulled off

25
00:01:12,560 --> 00:01:15,280
Speaker 2: something out of a Hollywood caper, who they could be

26
00:01:15,319 --> 00:01:18,720
Speaker 2: working for, and just how vulnerable museums are that that.

27
00:01:27,880 --> 00:01:28,039
Speaker 1: Can.

28
00:01:28,080 --> 00:01:30,000
Speaker 2: We start with just what a sensation this is. So

29
00:01:30,040 --> 00:01:31,800
Speaker 2: this happened on a Sunday, and I'm curious sort of

30
00:01:31,800 --> 00:01:35,200
Speaker 2: how quickly it reverberated around the country as a whole.

31
00:01:35,600 --> 00:01:38,040
Speaker 1: I mean pretty quickly. I have to say. I became

32
00:01:38,080 --> 00:01:42,440
Speaker 1: aware of it probably around nine forty five, nine fifty,

33
00:01:42,520 --> 00:01:46,080
Speaker 1: so its only really fifteen twenty minutes after it happened.

34
00:01:46,200 --> 00:01:48,960
Speaker 1: I was at home making breakfast for my kids, and

35
00:01:49,600 --> 00:01:51,800
Speaker 1: I got alerts that started to pop up on my phone,

36
00:01:52,120 --> 00:01:54,760
Speaker 1: and it was really pretty extraordinary because you know, one

37
00:01:54,760 --> 00:01:56,560
Speaker 1: of the things they did is they moved. I've been

38
00:01:56,560 --> 00:01:58,160
Speaker 1: having trouble in the office, I have to say, trying

39
00:01:58,200 --> 00:02:00,000
Speaker 1: to come up with the word for this in English.

40
00:02:00,160 --> 00:02:02,720
Speaker 1: It's called a multichalsh in French, and it's the thing

41
00:02:02,800 --> 00:02:06,280
Speaker 1: you use to move furniture in and out of apartments

42
00:02:06,320 --> 00:02:09,240
Speaker 1: because French windows there are these big, you know, windows

43
00:02:09,240 --> 00:02:12,079
Speaker 1: that open sort of like double doors, and that's how

44
00:02:12,120 --> 00:02:14,040
Speaker 1: it's much easier to actually use this this sort of

45
00:02:14,120 --> 00:02:16,560
Speaker 1: like a pneumatic lift thing to get furniture up to

46
00:02:16,800 --> 00:02:19,040
Speaker 1: especially fourth, fifth, sixth floor apartments and move it in

47
00:02:19,080 --> 00:02:21,680
Speaker 1: by the windows. And so they're really common in Paris,

48
00:02:21,880 --> 00:02:24,000
Speaker 1: but still usually you have to have a permit of

49
00:02:24,080 --> 00:02:25,760
Speaker 1: the one outside on the road. And here we was

50
00:02:25,760 --> 00:02:28,280
Speaker 1: sitting outside of the louver, you know, on Sunday morning

51
00:02:28,320 --> 00:02:30,680
Speaker 1: and nine thirty one, there's no work scheduled, so people,

52
00:02:30,720 --> 00:02:33,800
Speaker 1: even cyclists sort of stopped and immediately sort of like

53
00:02:33,840 --> 00:02:35,960
Speaker 1: taking videos of it and calling the cops and being like, hey,

54
00:02:36,000 --> 00:02:36,720
Speaker 1: what's going on here?

55
00:02:41,280 --> 00:02:43,600
Speaker 2: Could I have you walk us through what happened over

56
00:02:43,639 --> 00:02:44,440
Speaker 2: those seven minutes.

57
00:02:44,919 --> 00:02:48,120
Speaker 1: Basically, they showed up on Sunday morning outside the Louver

58
00:02:48,240 --> 00:02:51,880
Speaker 1: and near this area which is called the Apollo Gallery,

59
00:02:51,960 --> 00:02:54,200
Speaker 1: and it said a part of the louver that has

60
00:02:54,440 --> 00:02:56,359
Speaker 1: a bunch of jewels in it and it's sort of

61
00:02:56,480 --> 00:03:02,079
Speaker 1: Napoleonic mostly but not entirely. And they used them glass cutters,

62
00:03:02,160 --> 00:03:03,920
Speaker 1: almost like a chainsaw, but at the end of it,

63
00:03:03,960 --> 00:03:06,960
Speaker 1: instead of a saw, it's got these glass cutting discs

64
00:03:07,120 --> 00:03:10,040
Speaker 1: to cut holes in the windows to get into the

65
00:03:10,080 --> 00:03:13,600
Speaker 1: gallery and ons in to cut holes in the cases. Now,

66
00:03:13,880 --> 00:03:15,560
Speaker 1: they did this around nine thirty in the morning, so

67
00:03:15,600 --> 00:03:18,440
Speaker 1: the loof was open actually at the time, and there

68
00:03:18,440 --> 00:03:20,000
Speaker 1: were guards in the room. At least according to the

69
00:03:20,040 --> 00:03:24,680
Speaker 1: Culture Ministry, the standard procedure is not to engage with thieves,

70
00:03:24,680 --> 00:03:27,880
Speaker 1: but actually the priority is to get any visitors who

71
00:03:27,960 --> 00:03:29,640
Speaker 1: might be in the room out of the room and

72
00:03:29,639 --> 00:03:31,720
Speaker 1: try to sort of protect people's safety rather than try

73
00:03:31,760 --> 00:03:35,280
Speaker 1: to protect the stuff being stolen. But you actually have

74
00:03:35,480 --> 00:03:39,200
Speaker 1: some videos, you know, some handheld videos from iPhones and

75
00:03:39,240 --> 00:03:41,600
Speaker 1: the like of people sort of showing these guys in

76
00:03:42,040 --> 00:03:45,320
Speaker 1: yellow sort of safety vests on which sometimes workers have,

77
00:03:45,480 --> 00:03:48,120
Speaker 1: especially when they're working on the road, so that cars

78
00:03:48,280 --> 00:03:49,680
Speaker 1: can see them. And it's the kind of thing that

79
00:03:49,720 --> 00:03:52,120
Speaker 1: actually everyone has in their trunk by law, everyone has

80
00:03:52,120 --> 00:03:54,160
Speaker 1: in the trunk of their car to have to put

81
00:03:54,160 --> 00:03:55,680
Speaker 1: on if your car gets stuck on the side of

82
00:03:55,680 --> 00:03:58,640
Speaker 1: the road, So they're very common vests. And yeah, sort

83
00:03:58,640 --> 00:04:00,680
Speaker 1: of you can see how they might look like regular

84
00:04:00,720 --> 00:04:03,400
Speaker 1: old workers, except the fact that they were inside the louver,

85
00:04:03,560 --> 00:04:06,240
Speaker 1: cutting up in these cases and pulling out jewels.

86
00:04:07,640 --> 00:04:09,360
Speaker 2: What do we know of what they were able to

87
00:04:09,680 --> 00:04:10,600
Speaker 2: spirit out of the place.

88
00:04:10,800 --> 00:04:14,280
Speaker 1: They got a series of jewels that were both Napoleonic

89
00:04:14,440 --> 00:04:18,920
Speaker 1: and pre Napoleonic brooches and tiaras, and some earrings. They

90
00:04:18,920 --> 00:04:22,680
Speaker 1: have lots of pearls and diamonds and emeralds on them,

91
00:04:22,880 --> 00:04:26,800
Speaker 1: but the value is much more in their historic relevance

92
00:04:26,880 --> 00:04:28,839
Speaker 1: rather than in the value of the gems themselves. The

93
00:04:28,880 --> 00:04:32,360
Speaker 1: gems are worth a lot, and the gold in which

94
00:04:32,400 --> 00:04:33,560
Speaker 1: a lot of these things are made of is worth

95
00:04:33,560 --> 00:04:35,080
Speaker 1: a lot, and it forced a lot more now that

96
00:04:35,120 --> 00:04:37,839
Speaker 1: gold is over four thousand dollars an ounce than when

97
00:04:38,040 --> 00:04:40,599
Speaker 1: it was, you know, forty dollars an ounce sixty years ago.

98
00:04:41,600 --> 00:04:44,920
Speaker 2: I've seen these referred to as priceless jewels and objects.

99
00:04:45,279 --> 00:04:47,839
Speaker 2: Do we have some sense of, you know, in dollars

100
00:04:47,960 --> 00:04:49,480
Speaker 2: or euros, what this haul would be worth.

101
00:04:49,839 --> 00:04:53,039
Speaker 1: Prices is definitely the term, because these things literally can't

102
00:04:53,120 --> 00:04:56,560
Speaker 1: be sold because there's only one of them, and everybody

103
00:04:56,680 --> 00:04:59,160
Speaker 1: who is active in the art market will take one

104
00:04:59,160 --> 00:05:00,520
Speaker 1: look at it and be like, oh, so, yeah, that's the

105
00:05:00,520 --> 00:05:02,800
Speaker 1: thing that was stolen from the louver, and maybe they'd

106
00:05:02,800 --> 00:05:04,560
Speaker 1: be willing to buy it from you, or maybe they

107
00:05:04,560 --> 00:05:06,880
Speaker 1: would just call the police and have you arrested. So

108
00:05:06,960 --> 00:05:10,159
Speaker 1: these things are not sellable in a traditional way, and Therefore,

109
00:05:10,240 --> 00:05:12,760
Speaker 1: they can't be valued in a traditional way. There is

110
00:05:12,800 --> 00:05:15,560
Speaker 1: no market for them. And that's when people say priceless,

111
00:05:15,560 --> 00:05:17,840
Speaker 1: that's what's really they mean. The main value of them

112
00:05:18,000 --> 00:05:19,800
Speaker 1: is as part of the history of France.

113
00:05:25,120 --> 00:05:28,200
Speaker 2: You've now been listening to this podcast for about seven minutes,

114
00:05:28,480 --> 00:05:30,320
Speaker 2: the same amount of time it took this group of

115
00:05:30,320 --> 00:05:34,080
Speaker 2: thieves to steal those priceless artifacts from the louver. After

116
00:05:34,120 --> 00:05:37,039
Speaker 2: the break, what's next for them, for law enforcement and

117
00:05:37,080 --> 00:05:47,400
Speaker 2: for the museum. The caper part of this crime, the

118
00:05:47,560 --> 00:05:50,400
Speaker 2: risky snatch and grab in broad daylight. That part of

119
00:05:50,440 --> 00:05:53,840
Speaker 2: the heist is done. But what comes next? What on

120
00:05:53,920 --> 00:05:55,800
Speaker 2: earth are the thieves going to do with jewels that

121
00:05:55,839 --> 00:05:59,680
Speaker 2: are this famous and this identifiable. Well, that depends on

122
00:05:59,800 --> 00:06:01,760
Speaker 2: why they were taken in the first place.

123
00:06:02,279 --> 00:06:04,680
Speaker 3: Only don't you putt in criminality organize.

124
00:06:07,440 --> 00:06:10,760
Speaker 2: On Sunday, Paris prosecutor lor Bacau told a local French

125
00:06:10,800 --> 00:06:13,560
Speaker 2: TV station that the thieves were likely either on an

126
00:06:13,560 --> 00:06:16,400
Speaker 2: assignment from a collector who'd want to keep the goods intact,

127
00:06:17,000 --> 00:06:19,320
Speaker 2: or working for someone who was just after their valuable

128
00:06:19,320 --> 00:06:23,039
Speaker 2: stones and metals. Bloomberg's Allen Katz says, for now, we

129
00:06:23,320 --> 00:06:25,039
Speaker 2: just don't know if the theft was to keep the

130
00:06:25,080 --> 00:06:26,520
Speaker 2: jewels or to sell them.

131
00:06:26,800 --> 00:06:30,400
Speaker 1: Let's say you're I'm, you know, mister evil genius, right,

132
00:06:30,440 --> 00:06:33,800
Speaker 1: and I want I want this particular tr right. I

133
00:06:33,839 --> 00:06:35,919
Speaker 1: just love this tr It's my favorite tr I've always

134
00:06:35,920 --> 00:06:38,800
Speaker 1: wanted it, and I can hire somebody to steal it, right,

135
00:06:38,839 --> 00:06:41,160
Speaker 1: And maybe I've paid this group of may believe it's

136
00:06:41,160 --> 00:06:43,720
Speaker 1: four people to steal this thing. And I'm paying the meat,

137
00:06:43,839 --> 00:06:45,800
Speaker 1: you know, I don't know, twenty five thousand dollars or

138
00:06:45,839 --> 00:06:48,880
Speaker 1: fifty thousand dollars or whatever, or promise them a million dollars,

139
00:06:49,040 --> 00:06:52,320
Speaker 1: who knows, But I'm paying for a service to be rendered.

140
00:06:52,960 --> 00:06:57,480
Speaker 2: The criminal Tiara super Fan would then presumably keep the crowns,

141
00:06:57,520 --> 00:07:00,720
Speaker 2: earrings and necklaces as they are, maybe a secret room

142
00:07:00,720 --> 00:07:03,640
Speaker 2: where they alone can enjoy them. But Alan says in

143
00:07:03,680 --> 00:07:07,160
Speaker 2: the other scenario, these items were simply stolen for the

144
00:07:07,279 --> 00:07:08,600
Speaker 2: value of their parts.

145
00:07:08,920 --> 00:07:11,640
Speaker 1: You'd like, take off the diamonds and the gold and

146
00:07:11,640 --> 00:07:13,240
Speaker 1: you melt it all down and then you sell it,

147
00:07:13,240 --> 00:07:16,280
Speaker 1: which would be you know, terrible in terms of you know,

148
00:07:16,480 --> 00:07:19,440
Speaker 1: how it happened to the art. But I suppose not impossible.

149
00:07:19,720 --> 00:07:21,160
Speaker 2: Is that stuff traceable?

150
00:07:21,560 --> 00:07:24,400
Speaker 1: Depends on who does the melting down and the prying

151
00:07:24,440 --> 00:07:28,920
Speaker 1: out of the gems? I suppose the answer is jewels themselves,

152
00:07:29,000 --> 00:07:33,080
Speaker 1: I mean, are not particularly traceable, and neither is you know, gold,

153
00:07:33,120 --> 00:07:34,800
Speaker 1: if you're a platinum or any other metal, if you

154
00:07:34,800 --> 00:07:36,960
Speaker 1: melt it down, it's you know, molecules have no memory,

155
00:07:37,080 --> 00:07:39,840
Speaker 1: so like that, gold can't tell you what it used

156
00:07:39,840 --> 00:07:43,160
Speaker 1: to be. But you have to find someone willing to

157
00:07:43,200 --> 00:07:46,080
Speaker 1: do that. I'm sure those people exist. They probably exist

158
00:07:46,080 --> 00:07:49,320
Speaker 1: in every single country in the world. But as a thief,

159
00:07:49,560 --> 00:07:52,120
Speaker 1: I mean, is it really the easiest way to steal

160
00:07:53,080 --> 00:07:57,560
Speaker 1: that particular quantity of gold or emeralds or diamonds? Maybe,

161
00:07:57,640 --> 00:08:00,920
Speaker 1: I guess, I mean, strikes is a pretty risky way

162
00:08:00,960 --> 00:08:03,760
Speaker 1: to sort of get like gold bullion. And then it

163
00:08:03,760 --> 00:08:06,080
Speaker 1: begs the question of like how big is like the

164
00:08:06,400 --> 00:08:11,120
Speaker 1: art black market for stolen goods from museums, Because it's

165
00:08:11,160 --> 00:08:14,320
Speaker 1: actually larger than you think, at least according to the

166
00:08:14,400 --> 00:08:16,040
Speaker 1: FBI in the US. I think they have an estimate

167
00:08:16,080 --> 00:08:19,160
Speaker 1: of four to six billion dollars worth of art being

168
00:08:19,200 --> 00:08:21,240
Speaker 1: stolen your which struction is exceedingly high.

169
00:08:21,480 --> 00:08:24,280
Speaker 2: What has the reaction been to this? On Monday front

170
00:08:24,280 --> 00:08:26,280
Speaker 2: page of every paper, people talking about it, So what

171
00:08:26,320 --> 00:08:27,760
Speaker 2: do they make of what happened here on Sunday?

172
00:08:27,920 --> 00:08:30,680
Speaker 1: It is definitely the thing that people are talking about. France,

173
00:08:30,880 --> 00:08:33,840
Speaker 1: like the United States, is you know, a highly politicized country,

174
00:08:34,040 --> 00:08:36,160
Speaker 1: so some people have immediately made it out to be

175
00:08:36,280 --> 00:08:39,400
Speaker 1: a political issue, you know, and did our politicians fail

176
00:08:39,840 --> 00:08:42,800
Speaker 1: and not having enough security at the louver and therefore

177
00:08:43,000 --> 00:08:45,560
Speaker 1: they should be turfed out of office? Or is it

178
00:08:45,679 --> 00:08:49,440
Speaker 1: to speak to a decline in France? The Justice Minister

179
00:08:49,840 --> 00:08:52,719
Speaker 1: was on this morning talking about how it's in national humiliation,

180
00:08:53,040 --> 00:08:56,600
Speaker 1: but also it's it's cool, right, Like it's pretty cool

181
00:08:56,880 --> 00:08:59,880
Speaker 1: because no one was hurt, no one was shot at, right,

182
00:09:00,120 --> 00:09:01,959
Speaker 1: People are like wow, actually, like they did a pretty

183
00:09:01,960 --> 00:09:04,680
Speaker 1: good job, these guys, you know. And so you have

184
00:09:04,760 --> 00:09:07,440
Speaker 1: that mix of as with the idea of sort of

185
00:09:07,440 --> 00:09:11,160
Speaker 1: the gentleman thief. It takes planning, it takes skill, it

186
00:09:11,200 --> 00:09:14,920
Speaker 1: takes daring, and you're not physically hurting anybody, and people

187
00:09:14,960 --> 00:09:17,640
Speaker 1: sort of enjoyed that too as a story, right, it's

188
00:09:17,640 --> 00:09:19,079
Speaker 1: a great tale of a caper.

189
00:09:21,320 --> 00:09:23,240
Speaker 2: I want to ask you to put this in context.

190
00:09:23,240 --> 00:09:25,480
Speaker 2: So there's kind of the historical legacy. The Loover has

191
00:09:25,559 --> 00:09:28,240
Speaker 2: dealt with this before, and it's long past, but there

192
00:09:28,280 --> 00:09:32,200
Speaker 2: have been other heights, other robberies at French museums. What

193
00:09:32,240 --> 00:09:35,319
Speaker 2: do people make of how commonness has become so much

194
00:09:35,320 --> 00:09:36,520
Speaker 2: as it has.

195
00:09:36,880 --> 00:09:38,960
Speaker 1: So One of the things that especially again in la

196
00:09:39,200 --> 00:09:41,480
Speaker 1: Uniez is now the Interior Minister, but it was for

197
00:09:41,520 --> 00:09:43,959
Speaker 1: several years the head of the Paris Police. One of

198
00:09:44,000 --> 00:09:46,360
Speaker 1: the things he noted today was that this really is

199
00:09:46,640 --> 00:09:51,080
Speaker 1: a rising form of crime. In other words, that it

200
00:09:51,120 --> 00:09:54,319
Speaker 1: does appear to be that for whatever reason, whether it's

201
00:09:54,360 --> 00:09:58,080
Speaker 1: the rising value of the underlying stuff these things are

202
00:09:58,080 --> 00:10:00,920
Speaker 1: made of gold or duels or whatever, or it's more to

203
00:10:00,960 --> 00:10:05,840
Speaker 1: the point that people feel like museums in general are

204
00:10:05,920 --> 00:10:08,280
Speaker 1: and not just in France, because there's lots of theft

205
00:10:08,280 --> 00:10:11,560
Speaker 1: and museums all over the world, but that museums are

206
00:10:11,679 --> 00:10:16,360
Speaker 1: a good target because they are relatively poorly defended or secured,

207
00:10:16,400 --> 00:10:21,160
Speaker 1: and therefore you can actually steal stuff pretty easily from them.

208
00:10:21,200 --> 00:10:23,360
Speaker 1: They're somebody who's joking next to me saying that you know,

209
00:10:23,760 --> 00:10:27,000
Speaker 1: their typical Czara store in France has better security than

210
00:10:27,080 --> 00:10:27,680
Speaker 1: Louver does.

211
00:10:29,640 --> 00:10:31,760
Speaker 2: I'm curious what the next steps are here for the

212
00:10:31,760 --> 00:10:34,120
Speaker 2: Louver in all likelihoods, so we know that the mental

213
00:10:34,160 --> 00:10:36,439
Speaker 2: Macron has unveiled these plans to renovate the museum to

214
00:10:36,480 --> 00:10:39,120
Speaker 2: improve security. We should point out this is happening at

215
00:10:39,120 --> 00:10:42,720
Speaker 2: a time when the museum faces budget cuts production subsidies

216
00:10:42,720 --> 00:10:45,480
Speaker 2: from the French government as all the whild visitor numbers

217
00:10:45,559 --> 00:10:48,560
Speaker 2: are continuing to go up. Where does the louver go

218
00:10:48,640 --> 00:10:49,040
Speaker 2: from here?

219
00:10:49,280 --> 00:10:50,960
Speaker 1: Well, the first thing has to do before anything else,

220
00:10:50,960 --> 00:10:54,640
Speaker 1: it has to reopen. It was closed yesterday and closed today.

221
00:10:54,840 --> 00:10:57,480
Speaker 1: It's always closed on Tuesdays, so the French government has

222
00:10:57,480 --> 00:10:59,880
Speaker 1: to make sure that it reopens on Wednesday. There are

223
00:11:00,080 --> 00:11:02,439
Speaker 1: a lot of visitors, as you say that, I think

224
00:11:02,440 --> 00:11:04,480
Speaker 1: there were eight point seven million in twenty twenty four,

225
00:11:04,840 --> 00:11:07,160
Speaker 1: so that's a lot of people that go every year

226
00:11:07,240 --> 00:11:09,240
Speaker 1: and a lot of disappointed people if they're not able

227
00:11:09,240 --> 00:11:12,720
Speaker 1: to go see the modulation. But as you point out,

228
00:11:12,800 --> 00:11:15,640
Speaker 1: it's it's a museum that has often had sort of

229
00:11:15,880 --> 00:11:19,000
Speaker 1: budgetary issues. One of the issues has been at security.

230
00:11:19,040 --> 00:11:21,480
Speaker 1: It's actually been that have been in reports about its

231
00:11:21,880 --> 00:11:23,599
Speaker 1: poor security in the past and how it needs to

232
00:11:23,600 --> 00:11:25,320
Speaker 1: be improved, and there have been plans to improve it

233
00:11:25,360 --> 00:11:27,599
Speaker 1: that hadn't been put into place yet. It's one of

234
00:11:27,640 --> 00:11:30,280
Speaker 1: the things that that politicians in particular have been complaining

235
00:11:30,280 --> 00:11:34,320
Speaker 1: about today, but it does need to figure out how

236
00:11:34,360 --> 00:11:35,920
Speaker 1: it's going to manage its funding. And one of the

237
00:11:35,960 --> 00:11:39,880
Speaker 1: things that you see a lot in French cultural centers,

238
00:11:40,000 --> 00:11:43,199
Speaker 1: both museums but also monuments, is there you know, the

239
00:11:43,600 --> 00:11:46,320
Speaker 1: the ex friends of the louver The or the ex

240
00:11:46,360 --> 00:11:49,079
Speaker 1: friends of Versailles, And when I say X, it's a country,

241
00:11:49,320 --> 00:11:51,960
Speaker 1: so it'd be like the American friends of Versailles, or

242
00:11:51,960 --> 00:11:54,520
Speaker 1: the American friends of Relouval, or the Chinese friends of

243
00:11:54,559 --> 00:11:57,400
Speaker 1: the muse d'orce. And it's been noticeable in the last

244
00:11:57,440 --> 00:11:59,760
Speaker 1: couple of years, a year or two i'd say, has

245
00:11:59,760 --> 00:12:05,079
Speaker 1: been a return to a lot of emphasis on American money.

246
00:12:05,200 --> 00:12:07,160
Speaker 1: So it seems to be that that's one of the

247
00:12:07,200 --> 00:12:09,960
Speaker 1: ways that they're looking to bridge that gap.

248
00:12:13,320 --> 00:12:14,640
Speaker 2: Alan, you and I are speaking at the end of

249
00:12:14,679 --> 00:12:17,760
Speaker 2: the day in Paris, and I'm curious what we've heard

250
00:12:17,760 --> 00:12:20,120
Speaker 2: from law enforcement about what's going to happen next in

251
00:12:20,160 --> 00:12:23,800
Speaker 2: the investigation of what happened here, and also how optimistic

252
00:12:23,840 --> 00:12:25,040
Speaker 2: they are that they're going to be able to catch

253
00:12:25,040 --> 00:12:25,760
Speaker 2: the perpetrators.

254
00:12:26,320 --> 00:12:30,920
Speaker 1: It's been surprisingly quiet today in terms of advances on

255
00:12:31,800 --> 00:12:34,480
Speaker 1: the actual investigation. In the past, a lot of these

256
00:12:34,559 --> 00:12:40,120
Speaker 1: museum thefts have taken quite some time to resolve, if

257
00:12:40,120 --> 00:12:43,680
Speaker 1: they've been resolved at all, so I don't have the

258
00:12:43,720 --> 00:12:46,880
Speaker 1: feeling that it's going to be solved very quickly. But

259
00:12:47,280 --> 00:12:48,040
Speaker 1: I really don't know.

260
00:12:58,040 --> 00:13:00,520
Speaker 2: This is the Big Take from Bloomberg News David Gera.

261
00:13:00,840 --> 00:13:03,360
Speaker 2: To get more from The Big Take and unlimited access

262
00:13:03,400 --> 00:13:06,839
Speaker 2: to all of Bloomberg dot com, subscribe today at Bloomberg

263
00:13:06,880 --> 00:13:10,720
Speaker 2: dot com slash podcast offware. If you liked this episode,

264
00:13:10,840 --> 00:13:12,959
Speaker 2: make sure to follow and review The Big Take wherever

265
00:13:12,960 --> 00:13:15,520
Speaker 2: you listen to podcasts. It helps people find the show.

266
00:13:16,000 --> 00:13:17,920
Speaker 2: Thanks for listening, We'll be back tomorrow.

267
00:13:18,760 --> 00:13:18,800
Speaker 3: You