1 00:00:01,720 --> 00:00:06,240 Speaker 1: Now from our nation's capital. This is Floomberg's sound on 2 00:00:07,200 --> 00:00:10,879 Speaker 1: Today's agreement is a good first step to ending the 3 00:00:11,080 --> 00:00:20,080 Speaker 1: persistent in action to gun violence. Time is difference Floomberg's 4 00:00:20,160 --> 00:00:24,400 Speaker 1: sound on politics, policy, and perspective from DC's top name. 5 00:00:24,760 --> 00:00:28,720 Speaker 1: On the morning of January six, President Donald Trump's intention 6 00:00:29,080 --> 00:00:32,400 Speaker 1: was to remain president of the United States. Violence was 7 00:00:32,520 --> 00:00:37,440 Speaker 1: no accident. It represents Trump's last Sat Floomberg sound on 8 00:00:37,600 --> 00:00:42,680 Speaker 1: with Joe Matthew on Bloomberg Radio. Senators strike a deal 9 00:00:42,800 --> 00:00:45,920 Speaker 1: on guns. Welcome to the fastest hour in politics with 10 00:00:46,000 --> 00:00:50,040 Speaker 1: details today on the framework just weeks after the shooting 11 00:00:50,040 --> 00:00:53,920 Speaker 1: in Uvaldi, and as the House committee investigating January six 12 00:00:54,040 --> 00:00:57,160 Speaker 1: builds its case against Donald Trump, will discuss both with 13 00:00:57,240 --> 00:01:01,240 Speaker 1: Congressman Stephen Lynch, Democrat from Massa choose it's member of 14 00:01:01,280 --> 00:01:05,399 Speaker 1: the Gun Violence Prevention Task Force. Later, stocks tumble on 15 00:01:05,480 --> 00:01:08,680 Speaker 1: the latest inflation shock. President Biden says he'd like to 16 00:01:08,800 --> 00:01:12,360 Speaker 1: pop someone, and we'll talk about the messaging on prices 17 00:01:12,400 --> 00:01:16,320 Speaker 1: with Greg Valier, a g F Investments our panel today 18 00:01:16,360 --> 00:01:21,160 Speaker 1: Bloomberg Politics contributor Democratic analyst Genie Chanzano along with Republican 19 00:01:21,240 --> 00:01:25,680 Speaker 1: strategist Doug High, former Communications director at the Republican National Committee. 20 00:01:25,680 --> 00:01:28,160 Speaker 1: We've got a great hour ahead, but first the damage done. 21 00:01:28,160 --> 00:01:30,600 Speaker 1: An update on the markets. There's nowhere to hide today. 22 00:01:30,680 --> 00:01:33,200 Speaker 1: Let's go a bit deeper with Bloomberg Equities reporter Jess 23 00:01:33,240 --> 00:01:36,480 Speaker 1: Meant and Jess thanks for being here on a busy 24 00:01:36,520 --> 00:01:39,280 Speaker 1: after hours. There are a lot of broken charts out there. 25 00:01:39,280 --> 00:01:42,399 Speaker 1: How damaging was today From a technical standpoint, it was 26 00:01:42,600 --> 00:01:45,640 Speaker 1: very damaging. One of the key levels that technicians were 27 00:01:45,720 --> 00:01:48,840 Speaker 1: keeping a close eye on was thirty eight ten, which 28 00:01:48,880 --> 00:01:52,120 Speaker 1: the SMP five hundred broke today, and that was the 29 00:01:52,160 --> 00:01:55,960 Speaker 1: intro day low on me when we had that big 30 00:01:56,000 --> 00:01:58,320 Speaker 1: sell off. At that point, the SMP five hundred had 31 00:01:58,360 --> 00:02:02,320 Speaker 1: dropped more than intra day from its January third high 32 00:02:02,400 --> 00:02:04,840 Speaker 1: at that session, but paired back losses and did not 33 00:02:04,960 --> 00:02:07,680 Speaker 1: officially close in the bear market that day. But today 34 00:02:07,800 --> 00:02:09,919 Speaker 1: it did and it was one of the most powerful 35 00:02:09,960 --> 00:02:12,919 Speaker 1: bull market runs that we've ever seen. Wow, So it's 36 00:02:12,919 --> 00:02:16,000 Speaker 1: to sell everything market here. Even Energy was lower today, Huh, 37 00:02:16,400 --> 00:02:19,760 Speaker 1: everything was and interesting with energy. I spoke with a 38 00:02:19,840 --> 00:02:22,600 Speaker 1: number of strategies to get a sense of why energy 39 00:02:22,760 --> 00:02:25,640 Speaker 1: was one of the among leading to groups in the 40 00:02:25,680 --> 00:02:28,359 Speaker 1: sectors in the SMP five hundred, that was lower if 41 00:02:28,360 --> 00:02:31,000 Speaker 1: that was something that was tied to global growth concerns 42 00:02:31,000 --> 00:02:33,800 Speaker 1: and recessionary fears. But something that did come up was 43 00:02:34,000 --> 00:02:36,920 Speaker 1: as far as when I was talking with technicians, one 44 00:02:36,960 --> 00:02:40,240 Speaker 1: of those things where energy has been the best performing 45 00:02:40,320 --> 00:02:43,280 Speaker 1: sector by far this year, and it's a sign that 46 00:02:43,360 --> 00:02:46,680 Speaker 1: potentially investors were starting to sell even some of their winners, 47 00:02:46,960 --> 00:02:49,400 Speaker 1: in liquidating some of those positions to raise some of 48 00:02:49,440 --> 00:02:52,440 Speaker 1: their cash levels. And that's something that has been a 49 00:02:52,480 --> 00:02:54,799 Speaker 1: bit missing this year in the sell off when you're 50 00:02:54,800 --> 00:02:57,560 Speaker 1: looking at the SMP five versus some of these say 51 00:02:57,560 --> 00:03:01,560 Speaker 1: more tech growth oriented indexes like the NASTAC and then 52 00:03:01,520 --> 00:03:03,640 Speaker 1: it's like one because a lot of people say when 53 00:03:03,680 --> 00:03:06,200 Speaker 1: it comes to Apple some of these other really big 54 00:03:06,360 --> 00:03:08,720 Speaker 1: favorites that people don't want to go off. We saw 55 00:03:08,760 --> 00:03:11,640 Speaker 1: signs of those stocks cracking in the last month, and 56 00:03:11,680 --> 00:03:14,040 Speaker 1: again maybe when you're looking at energy some of those 57 00:03:14,080 --> 00:03:17,680 Speaker 1: signs as well. Interesting this is all about a recalibration, 58 00:03:17,800 --> 00:03:21,120 Speaker 1: right that that that inflation data on Friday recalibrated the 59 00:03:21,160 --> 00:03:24,760 Speaker 1: expectation for the FED. Now we're talking seventy basis points again, 60 00:03:24,800 --> 00:03:27,919 Speaker 1: maybe even more right the Wall Street Journal journal pointing 61 00:03:27,919 --> 00:03:31,240 Speaker 1: out that we might see a potential surprise move of 62 00:03:31,280 --> 00:03:34,000 Speaker 1: seventy five basis points from the Fed on Wednesday. And 63 00:03:34,000 --> 00:03:35,760 Speaker 1: a lot of it has to do, especially when we're 64 00:03:35,760 --> 00:03:37,720 Speaker 1: looking at the stock market, what's going on with the 65 00:03:37,720 --> 00:03:41,240 Speaker 1: bond market, when you're looking at the US tenure treasury 66 00:03:41,280 --> 00:03:44,880 Speaker 1: yield spiking again about three point one per cent, and 67 00:03:45,040 --> 00:03:47,800 Speaker 1: just the speed in which that it has moved so quickly. 68 00:03:47,880 --> 00:03:50,720 Speaker 1: It's really going to pressure the stock market and enforcing 69 00:03:50,760 --> 00:03:54,720 Speaker 1: stocks and investors to recalibrate their expectations as far as 70 00:03:54,760 --> 00:03:57,960 Speaker 1: what that means for valuations, corporate earnings, and obviously the 71 00:03:57,960 --> 00:04:01,840 Speaker 1: Fed's trajectory with the economy analysis. Jess, great to have you. 72 00:04:01,880 --> 00:04:04,320 Speaker 1: Thank you for the insights. Jess metten with us getting 73 00:04:04,320 --> 00:04:07,840 Speaker 1: things rolling on the fastest hour in politics, My god, 74 00:04:07,880 --> 00:04:12,280 Speaker 1: that was something to watch. Meantime, here inside the bubble, 75 00:04:12,320 --> 00:04:14,680 Speaker 1: Senate Majority Leader Chuck Schumer says he will bring a 76 00:04:14,720 --> 00:04:16,400 Speaker 1: gun bill to the floor as soon as it's finished. 77 00:04:16,480 --> 00:04:18,800 Speaker 1: The President says he's going to sign it. He put 78 00:04:18,800 --> 00:04:22,359 Speaker 1: a statement out yesterday after negotiators in the Senate announced 79 00:04:22,360 --> 00:04:25,440 Speaker 1: the framework for a gun safety bill. It includes what 80 00:04:25,560 --> 00:04:28,160 Speaker 1: we've been talking about, a red flag incentive for states, 81 00:04:28,160 --> 00:04:30,760 Speaker 1: more comprehensive background check, says we learned as well over 82 00:04:30,760 --> 00:04:32,560 Speaker 1: the weekend for people under twenty one who want to 83 00:04:32,560 --> 00:04:35,760 Speaker 1: buy a gun, White House calling it an historic agreement. 84 00:04:35,760 --> 00:04:37,880 Speaker 1: Today Otherwise, we've told you as well, lawmakers in the 85 00:04:37,920 --> 00:04:42,200 Speaker 1: House have been working on much more strict legislation, further 86 00:04:42,279 --> 00:04:45,640 Speaker 1: reaching that includes hiking the age to buy an assault 87 00:04:45,720 --> 00:04:50,000 Speaker 1: rifle to one, which was approved by a pretty wide 88 00:04:50,000 --> 00:04:53,640 Speaker 1: majority of people in a series of polls conducted since Valdi. Now. 89 00:04:54,279 --> 00:04:58,760 Speaker 1: Congressman Stephen Lynch, a Democrat from Massachusetts Boston, mass who 90 00:04:58,800 --> 00:05:02,039 Speaker 1: serves on the Gun Violence Vention Task Force, urged his 91 00:05:02,120 --> 00:05:05,200 Speaker 1: colleagues in committee last week as they were marking up 92 00:05:05,200 --> 00:05:08,440 Speaker 1: those bills to make that law. Here, he is, I 93 00:05:08,480 --> 00:05:12,800 Speaker 1: respect my colleagues rights to defend the Second Amendment, but 94 00:05:12,920 --> 00:05:16,279 Speaker 1: I will note when when in defending the Second Amendment, 95 00:05:16,880 --> 00:05:21,960 Speaker 1: you have to go to military experts and battlefield commanders 96 00:05:21,960 --> 00:05:25,039 Speaker 1: for advice on how to protect our kids while they're 97 00:05:25,080 --> 00:05:29,520 Speaker 1: in school. We got a problem. We've got a problem, 98 00:05:29,640 --> 00:05:33,520 Speaker 1: Congressman Lynch joins us now on Bloomberg Radio. It's great 99 00:05:33,520 --> 00:05:35,719 Speaker 1: to have you, Congressman, greetings to South Beat. Does the 100 00:05:35,760 --> 00:05:41,039 Speaker 1: Senate bill go far enough? Would you vote for it. Well, Joe, 101 00:05:41,080 --> 00:05:43,760 Speaker 1: that's that's the that's the dilemma. Right now. We have 102 00:05:43,839 --> 00:05:47,000 Speaker 1: a framework, but there there is no language yet, there's 103 00:05:47,040 --> 00:05:51,480 Speaker 1: no text. So I understand that that both sides. There 104 00:05:51,480 --> 00:05:55,880 Speaker 1: were ten Republican members and ten UH Democratic members who 105 00:05:55,920 --> 00:05:59,880 Speaker 1: agreed to a basic framework. But it's an agreement on principles, 106 00:06:00,080 --> 00:06:03,600 Speaker 1: and so you know, as you know, the the the 107 00:06:03,640 --> 00:06:06,640 Speaker 1: devil is in the details, and so when we get 108 00:06:06,680 --> 00:06:10,159 Speaker 1: down to actually putting pent to paper and getting those 109 00:06:10,200 --> 00:06:13,520 Speaker 1: provisions down, then then we'll be able to be a 110 00:06:13,520 --> 00:06:16,159 Speaker 1: better judge of it. But look, I don't want to 111 00:06:16,640 --> 00:06:19,640 Speaker 1: I don't want to discourage them. I am glad that 112 00:06:19,720 --> 00:06:21,839 Speaker 1: they are coming to a framework. I am glad what 113 00:06:21,880 --> 00:06:25,400 Speaker 1: we that we're having progress in the Senate, and UH 114 00:06:25,680 --> 00:06:29,000 Speaker 1: I look forward to supporting UH that bill. Of course, 115 00:06:29,120 --> 00:06:32,800 Speaker 1: we we we think Moore is needed as opposed to 116 00:06:32,800 --> 00:06:35,720 Speaker 1: some of our other colleagues. But but that's what legislation 117 00:06:35,800 --> 00:06:38,000 Speaker 1: is about. It's about compromise. So let's see what we 118 00:06:38,040 --> 00:06:41,000 Speaker 1: can do to make this make Americans safer, make these 119 00:06:41,080 --> 00:06:43,640 Speaker 1: kids in school safer. That's that's the end goal for 120 00:06:43,680 --> 00:06:45,760 Speaker 1: all of us here. You recently quoted the new York 121 00:06:45,800 --> 00:06:48,800 Speaker 1: Times a report that found that if the proposals being 122 00:06:48,880 --> 00:06:53,039 Speaker 1: considered in Congress had been lost, since four gunmen younger 123 00:06:53,040 --> 00:06:55,680 Speaker 1: than twenty one would have been blocked from buying the 124 00:06:55,800 --> 00:06:58,920 Speaker 1: rifles they used in mass shootings. The Senate bill, as 125 00:06:58,920 --> 00:07:01,240 Speaker 1: I mentioned, is not is the age for buying a 126 00:07:01,240 --> 00:07:04,200 Speaker 1: gun the way the House does, but will it help 127 00:07:04,279 --> 00:07:07,640 Speaker 1: to have background checks that include juvenile records as this 128 00:07:07,839 --> 00:07:11,360 Speaker 1: apparently will include. Do you like that idea? Well? The 129 00:07:11,360 --> 00:07:14,680 Speaker 1: the idea is that, you know, as as what happened 130 00:07:14,680 --> 00:07:17,720 Speaker 1: in Evaldi, when the kid turns eighteen, that should not 131 00:07:17,800 --> 00:07:22,760 Speaker 1: give him, uh, the the unmitigated right to to own 132 00:07:22,920 --> 00:07:26,040 Speaker 1: a an assault weapon. Right. There should be something else 133 00:07:26,120 --> 00:07:29,760 Speaker 1: that is required there. So I think the Senate agrees 134 00:07:29,840 --> 00:07:33,320 Speaker 1: with us on that. You know, how much added protection 135 00:07:33,360 --> 00:07:35,960 Speaker 1: do we need? I think it is wildly popular in 136 00:07:36,280 --> 00:07:41,400 Speaker 1: the you know, the general population, I think especially among 137 00:07:41,440 --> 00:07:44,040 Speaker 1: those who have eighteen year olds, and uh, you know, 138 00:07:44,360 --> 00:07:47,960 Speaker 1: they recognized the need for more maturity there, and uh, 139 00:07:48,080 --> 00:07:50,160 Speaker 1: you know, I think that's that's the point we can 140 00:07:50,200 --> 00:07:52,600 Speaker 1: agree on, and let's let's sit down and figure out 141 00:07:52,640 --> 00:07:56,960 Speaker 1: what what restrictions are reasonable under the circumstances. Massachusetts past 142 00:07:57,040 --> 00:08:00,000 Speaker 1: a red flag law inen. I was there. I remember 143 00:08:00,040 --> 00:08:03,880 Speaker 1: the debate. It was surprisingly protracted. People might not assume 144 00:08:03,960 --> 00:08:08,080 Speaker 1: for liberal so called Massachusetts. But reports say that since 145 00:08:08,120 --> 00:08:10,680 Speaker 1: then the order has not been used often, and when 146 00:08:10,680 --> 00:08:13,200 Speaker 1: it's used, it's actually been police more often than family 147 00:08:13,240 --> 00:08:16,040 Speaker 1: members or spouses. Has has the law health? Has it 148 00:08:16,120 --> 00:08:19,520 Speaker 1: made a difference in your state, Congressman, I think at 149 00:08:19,520 --> 00:08:22,320 Speaker 1: this point it would just be anecdotal. So in some 150 00:08:22,400 --> 00:08:25,800 Speaker 1: cases we do recognize that, you know, it's it's tough 151 00:08:25,840 --> 00:08:29,080 Speaker 1: to prove a crime, a crime that was not committed, right, 152 00:08:29,120 --> 00:08:32,880 Speaker 1: It's it's tough to prove, you know, the negative. So 153 00:08:33,320 --> 00:08:37,240 Speaker 1: we think that there were there were many instances of 154 00:08:38,080 --> 00:08:40,880 Speaker 1: a bad situation being averted by the removal of a 155 00:08:40,920 --> 00:08:44,280 Speaker 1: gun from from a home. But again it's it's not 156 00:08:44,480 --> 00:08:47,840 Speaker 1: it's not as widespread as as we thought might be 157 00:08:47,880 --> 00:08:51,720 Speaker 1: the case. But there are instances where you know, families 158 00:08:51,720 --> 00:08:56,120 Speaker 1: will come forward or police will, uh will intervene to 159 00:08:56,200 --> 00:08:59,960 Speaker 1: say that an individual should not, under their current condition, 160 00:09:00,200 --> 00:09:04,719 Speaker 1: should not have access to a firearm, and it's it's 161 00:09:04,720 --> 00:09:08,079 Speaker 1: adjudicated in this case so that you have an impartial 162 00:09:08,200 --> 00:09:13,320 Speaker 1: judge recognizing recognizing, you know, the Second Amendment as well Yeah, 163 00:09:14,080 --> 00:09:15,640 Speaker 1: what happens from here. Do you have a sense of 164 00:09:15,679 --> 00:09:17,920 Speaker 1: there will there be negotiations with the House or will 165 00:09:17,960 --> 00:09:20,800 Speaker 1: you essentially get a product from the Senate that you 166 00:09:20,840 --> 00:09:25,880 Speaker 1: need to decide up or down on. Well, Uh, there's 167 00:09:25,920 --> 00:09:29,440 Speaker 1: always one for negotiation. And because you're pretty far apart 168 00:09:29,480 --> 00:09:33,400 Speaker 1: in your versions here, obviously they are. They are. But 169 00:09:33,400 --> 00:09:38,280 Speaker 1: but I think either either our Senate colleagues Democratic Senate 170 00:09:38,280 --> 00:09:41,200 Speaker 1: colleagues will carry some of our initiatives forward in those 171 00:09:41,240 --> 00:09:45,880 Speaker 1: negotiations with their Republican colleagues, or there may be a 172 00:09:45,960 --> 00:09:49,640 Speaker 1: requirement for for a conference of some sort or some 173 00:09:49,760 --> 00:09:52,640 Speaker 1: negotiations between the Senate and the House. But again, I 174 00:09:53,000 --> 00:09:56,200 Speaker 1: am encouraged that there is this framework and we do 175 00:09:56,280 --> 00:09:58,280 Speaker 1: seem to be moving forward. This gives you a sense 176 00:09:58,320 --> 00:10:00,240 Speaker 1: of how fresh this is. As we discussed it with 177 00:10:00,280 --> 00:10:03,920 Speaker 1: Congressman Stephen Lynch from Massachusetts on Bloomberg Sound On, I 178 00:10:03,920 --> 00:10:06,199 Speaker 1: want to ask you about the January six Committee while 179 00:10:06,240 --> 00:10:09,920 Speaker 1: you're here quickly. Congressman had its second hearing today. We 180 00:10:10,040 --> 00:10:13,520 Speaker 1: heard at length today from former Attorney General Bill Barr, 181 00:10:14,160 --> 00:10:16,920 Speaker 1: along with a number of other top ranking White House officials, 182 00:10:16,920 --> 00:10:21,400 Speaker 1: including the president's former president's daughter. Uh. They described repeated 183 00:10:21,440 --> 00:10:23,680 Speaker 1: attempts to tell Donald Trump that he had lost the 184 00:10:23,720 --> 00:10:27,720 Speaker 1: election in the day of In days following, listen to 185 00:10:27,760 --> 00:10:32,240 Speaker 1: Bill barr and testimony today, I was somewhat tomorrow ours 186 00:10:32,360 --> 00:10:35,400 Speaker 1: because I thought, boy, if he really believes this stuff, 187 00:10:35,400 --> 00:10:40,160 Speaker 1: he has you know, lost contact with with He's become 188 00:10:40,240 --> 00:10:44,800 Speaker 1: detached from reality, detached from reality. This of course led 189 00:10:44,840 --> 00:10:49,160 Speaker 1: to Bill Barr's departure Congressman. This committee is bringing forward 190 00:10:49,200 --> 00:10:53,360 Speaker 1: some very troubling allegations. We're told that there is evidence 191 00:10:53,920 --> 00:10:56,360 Speaker 1: that will show even worse as they begin to connect 192 00:10:56,360 --> 00:11:00,079 Speaker 1: the dots that the president essentially attempted a coup. Is 193 00:11:00,120 --> 00:11:02,360 Speaker 1: anything going to come from these hearings beyond trying to 194 00:11:02,360 --> 00:11:05,240 Speaker 1: set the record straight and set history straight. At some 195 00:11:05,360 --> 00:11:10,559 Speaker 1: point will there be charges? So what I'm anticipating, and 196 00:11:10,640 --> 00:11:13,600 Speaker 1: this is just me from from reviewing the evidence, is 197 00:11:13,640 --> 00:11:18,280 Speaker 1: that there will be I think there will be based 198 00:11:18,280 --> 00:11:20,840 Speaker 1: on all of the evidence, and we have more evidence 199 00:11:20,880 --> 00:11:24,400 Speaker 1: to come that hasn't been made public. Um that a 200 00:11:24,440 --> 00:11:27,960 Speaker 1: criminal referral will be made and that the Department of 201 00:11:28,000 --> 00:11:29,880 Speaker 1: Justice will have to make a decision at that point, 202 00:11:30,240 --> 00:11:33,959 Speaker 1: but they will have ample evidence and uh and again 203 00:11:34,000 --> 00:11:37,760 Speaker 1: it won't be a you won't be a congressional effort. 204 00:11:37,800 --> 00:11:40,280 Speaker 1: It will be the Justice Department that takes that up. 205 00:11:40,920 --> 00:11:45,240 Speaker 1: Should Kevin McCarthy that is the main purpose there, understood? 206 00:11:45,840 --> 00:11:48,040 Speaker 1: Do you think they should refer as I mean they 207 00:11:48,040 --> 00:11:50,520 Speaker 1: did already for the minority leader. Should Kevin McCarthy have 208 00:11:50,520 --> 00:11:55,080 Speaker 1: been charged for refusing to cooperate? In your opinion? I'm 209 00:11:55,080 --> 00:11:57,960 Speaker 1: not quite sure. I didn't dive into that in terms of, 210 00:11:58,240 --> 00:12:01,560 Speaker 1: you know what what he's legally bounding? Do Um? He 211 00:12:01,640 --> 00:12:05,959 Speaker 1: does have, you know, some rights against self incrimination. Um, 212 00:12:06,559 --> 00:12:09,320 Speaker 1: But um, I think it was the right thing to 213 00:12:09,360 --> 00:12:14,400 Speaker 1: do to come and cooperate and testify. But um, talking 214 00:12:14,400 --> 00:12:16,600 Speaker 1: about busting a lot of conventions here these days, I 215 00:12:16,600 --> 00:12:19,160 Speaker 1: don't have to tell you that as someone who's been 216 00:12:19,200 --> 00:12:21,280 Speaker 1: on Capitol Hill for a minute. It should Donald Trump 217 00:12:21,320 --> 00:12:25,360 Speaker 1: himself be charged? Uh, that's what the criminal referral would 218 00:12:25,360 --> 00:12:29,520 Speaker 1: be for for him specifically. You mean, yeah, yeah, he's 219 00:12:29,520 --> 00:12:31,839 Speaker 1: behind us? All right, Well, there could be if it's 220 00:12:31,840 --> 00:12:35,280 Speaker 1: a conspiracy, A lot of names. I'm curious what you 221 00:12:35,280 --> 00:12:37,960 Speaker 1: think it could be. It could be that could be. 222 00:12:38,280 --> 00:12:40,319 Speaker 1: Let's let's let the rest of the evidence come out. 223 00:12:40,400 --> 00:12:43,200 Speaker 1: I know there are some members that came forward and 224 00:12:43,200 --> 00:12:45,920 Speaker 1: asked for for pardons as well. That that's surely an 225 00:12:45,920 --> 00:12:48,760 Speaker 1: indication of at least their own belief that they might 226 00:12:48,800 --> 00:12:51,079 Speaker 1: be guilty of something. Did you know that before they 227 00:12:51,120 --> 00:12:55,480 Speaker 1: announced that last week? Had you heard that before I did? Yeah? Yeah, 228 00:12:55,920 --> 00:12:58,360 Speaker 1: so that's true. Then we've been arguing about this for 229 00:12:58,400 --> 00:13:00,520 Speaker 1: the last four or five days as to whether it happened, 230 00:13:00,559 --> 00:13:02,000 Speaker 1: and you know, I know the committee is gonna do. 231 00:13:03,440 --> 00:13:06,400 Speaker 1: Who are not remains to be seen, but that that's 232 00:13:06,400 --> 00:13:10,119 Speaker 1: what I was told. Fascinating five to six lawmakers, Congressman. 233 00:13:10,920 --> 00:13:13,120 Speaker 1: I'm not sure if it's as high as six, but 234 00:13:13,640 --> 00:13:17,839 Speaker 1: there were several. I saw the price for a gallon 235 00:13:17,880 --> 00:13:20,880 Speaker 1: of gasoline in Massachusetts today top five dollars, just like 236 00:13:20,920 --> 00:13:23,840 Speaker 1: where I am here in Washington it was five dollars 237 00:13:23,880 --> 00:13:25,920 Speaker 1: and four tenths or something like that. I don't know 238 00:13:25,960 --> 00:13:28,040 Speaker 1: what you're paying in the city, Congressman. But how worried 239 00:13:28,080 --> 00:13:31,000 Speaker 1: are you this that this is actually the story that 240 00:13:31,160 --> 00:13:33,240 Speaker 1: is making headlines as opposed to what's happening in that 241 00:13:33,280 --> 00:13:38,640 Speaker 1: committee room. Yeah, that that is a concern. Um. It 242 00:13:38,720 --> 00:13:43,079 Speaker 1: seems that you know, Ukraine has dropped off the the uh, 243 00:13:43,320 --> 00:13:45,560 Speaker 1: you know, the front pages as well to a certain extent, 244 00:13:45,679 --> 00:13:50,240 Speaker 1: and uh, people are looking at the price of basic goods. 245 00:13:50,360 --> 00:13:54,880 Speaker 1: You know, inflation is h is uh the most regressive 246 00:13:54,920 --> 00:13:57,160 Speaker 1: tax there is. So it's hitting the people worse who 247 00:13:57,160 --> 00:14:00,320 Speaker 1: can LEAs afford it, right, Um so yeah, I think 248 00:14:00,440 --> 00:14:03,600 Speaker 1: I think people are seeing that upfront every day in 249 00:14:03,600 --> 00:14:07,480 Speaker 1: their in their lives, and and it's occupying a big 250 00:14:07,520 --> 00:14:11,360 Speaker 1: part of their worry. It's getting to be almost, uh 251 00:14:11,640 --> 00:14:14,480 Speaker 1: a comedy routine though, with the way this is being covered, 252 00:14:14,520 --> 00:14:16,600 Speaker 1: isn't it, with every single day asking about what are 253 00:14:16,600 --> 00:14:18,200 Speaker 1: you gonna do to beat inflation? If this is a 254 00:14:18,200 --> 00:14:22,480 Speaker 1: global phenomenon, are we not overstating the role that Washington 255 00:14:22,520 --> 00:14:27,160 Speaker 1: plays and controlling consumer prices, particularly energy prices. I know 256 00:14:27,240 --> 00:14:30,360 Speaker 1: that's its own conversation, but this is like, these are 257 00:14:30,440 --> 00:14:34,200 Speaker 1: long term trends, no, right, you need you know, you 258 00:14:34,280 --> 00:14:37,360 Speaker 1: do not replace the oil supply that was taken off 259 00:14:37,360 --> 00:14:43,880 Speaker 1: the market with Russia's invasion of Ukraine, Um, any time quickly. Uh. 260 00:14:44,080 --> 00:14:47,200 Speaker 1: I also think that as as well meaning as some 261 00:14:47,360 --> 00:14:53,440 Speaker 1: of the measures we've put forward, and that involves transition, 262 00:14:53,520 --> 00:14:56,240 Speaker 1: shipping and things like that, I don't think there's any 263 00:14:56,320 --> 00:14:59,520 Speaker 1: quick six here that we're gonna be in for a 264 00:14:59,600 --> 00:15:04,240 Speaker 1: slow slog here, and if history is any indicator, it 265 00:15:04,280 --> 00:15:06,720 Speaker 1: takes a while to turn this around, and and I 266 00:15:06,760 --> 00:15:09,640 Speaker 1: think that will be true in this case. I hope 267 00:15:09,680 --> 00:15:12,040 Speaker 1: you've had a chance to get down to Sullivan's, uh 268 00:15:12,200 --> 00:15:14,680 Speaker 1: for a hot dog, and I hope your summer is 269 00:15:14,720 --> 00:15:16,520 Speaker 1: going well at Congressman, thank you for coming to talk 270 00:15:16,520 --> 00:15:18,520 Speaker 1: to us. Thank you, Joe, thanks for having me on. 271 00:15:18,720 --> 00:15:21,640 Speaker 1: It's a pleasure here on Bloomberg Sound On, we assemble 272 00:15:21,640 --> 00:15:25,680 Speaker 1: our panel Bloomberg Politics contributors Genie Schanzano Doug Hides with 273 00:15:25,760 --> 00:15:28,560 Speaker 1: us as well, Republican strategist, former deputy chief of staff 274 00:15:28,600 --> 00:15:32,400 Speaker 1: to Eric Cander, former communications director for the r n CE. 275 00:15:32,600 --> 00:15:36,080 Speaker 1: Doug Greetings, welcome back, and Genie, I hope you had 276 00:15:36,120 --> 00:15:38,960 Speaker 1: a great weekend as we consider. I don't even know 277 00:15:38,960 --> 00:15:42,200 Speaker 1: where to begin after everything we just covered with Congressman Lynch, 278 00:15:42,240 --> 00:15:44,840 Speaker 1: but I think we'll just do this in order. And 279 00:15:44,880 --> 00:15:47,840 Speaker 1: that's a deal. On guns, Genie, this is the incremental 280 00:15:47,960 --> 00:15:50,080 Speaker 1: stuff we've been talking about, but it looks like it's 281 00:15:50,120 --> 00:15:52,720 Speaker 1: actually going to happen, and maybe even a bit more 282 00:15:52,920 --> 00:15:55,600 Speaker 1: on the background checks that that you might not have expected. 283 00:15:55,640 --> 00:15:59,120 Speaker 1: Does this sound like success to you? It sounds like 284 00:15:59,200 --> 00:16:02,360 Speaker 1: something to be optimistic about and hopeful about. But this 285 00:16:02,440 --> 00:16:04,520 Speaker 1: is far from a done deal. And I think the 286 00:16:04,600 --> 00:16:08,120 Speaker 1: Congressman just stressed what what everybody in Washington is saying, 287 00:16:08,160 --> 00:16:12,880 Speaker 1: which is we don't have language yet. Well, you know me, 288 00:16:12,920 --> 00:16:14,680 Speaker 1: I'm a little bit of a skeptic, but you know, 289 00:16:15,680 --> 00:16:19,000 Speaker 1: well yeah, and and so the question is going to be, 290 00:16:19,200 --> 00:16:21,800 Speaker 1: you know, what does that language look like? How long 291 00:16:21,880 --> 00:16:24,720 Speaker 1: does this take? They supposedly want to get this done 292 00:16:24,760 --> 00:16:28,280 Speaker 1: before July four, which is a challenge but doable. But 293 00:16:28,400 --> 00:16:30,520 Speaker 1: don't forget and I keep mentioning this to people with 294 00:16:30,600 --> 00:16:34,600 Speaker 1: too may mansion. It was the language that destroyed that 295 00:16:34,720 --> 00:16:38,520 Speaker 1: deal because once the language came out, people were able 296 00:16:38,640 --> 00:16:41,200 Speaker 1: to look at it, pick at it, and that's what 297 00:16:41,320 --> 00:16:44,360 Speaker 1: drove senators away from supporting it. And I don't think 298 00:16:44,400 --> 00:16:46,920 Speaker 1: they did that fairly. So the language is going to 299 00:16:47,040 --> 00:16:49,360 Speaker 1: matter an awful lot because you're a far cry from 300 00:16:49,400 --> 00:16:52,920 Speaker 1: that when you're talking framework. So I am hopeful it 301 00:16:52,920 --> 00:16:55,040 Speaker 1: would be wonderful if they could push this through, but 302 00:16:55,080 --> 00:16:57,080 Speaker 1: there's still a ways to go. Doug, you've been in 303 00:16:57,080 --> 00:17:00,280 Speaker 1: the room when the bill writing happens, when this process arts. 304 00:17:01,000 --> 00:17:03,640 Speaker 1: What are your thoughts on how many changes could happen. 305 00:17:03,680 --> 00:17:07,679 Speaker 1: Are you skeptical like Genie? Look, I've been hopeful and 306 00:17:07,760 --> 00:17:12,879 Speaker 1: skeptical the entire time. Hopeful that this time indeed is different. Um, 307 00:17:12,920 --> 00:17:16,080 Speaker 1: which we've we've heard before but seems to be true, 308 00:17:16,440 --> 00:17:19,640 Speaker 1: and also skeptical because the old adagees is very true. 309 00:17:19,680 --> 00:17:22,440 Speaker 1: Here the devil is in the details. And this is 310 00:17:22,440 --> 00:17:24,920 Speaker 1: where we're getting at right now. Is that detail part 311 00:17:24,920 --> 00:17:28,800 Speaker 1: where you're putting legislative text together. This is where disagreements happen. 312 00:17:29,200 --> 00:17:32,720 Speaker 1: This is where agreements that happen on a Monday disagreements 313 00:17:32,760 --> 00:17:36,760 Speaker 1: on Tuesday, and that as well. Um. And so you know, 314 00:17:36,800 --> 00:17:38,879 Speaker 1: we have a ways to go. But you know, obviously 315 00:17:38,920 --> 00:17:41,480 Speaker 1: if if this is a marathon not a sprint, you 316 00:17:41,480 --> 00:17:43,840 Speaker 1: know we're at least at the thirteen point one mile 317 00:17:44,359 --> 00:17:46,040 Speaker 1: mark and you know, hopefully we can get to the 318 00:17:46,040 --> 00:17:51,280 Speaker 1: finish line. The President has largely allowed this to happen, Genie, 319 00:17:51,320 --> 00:17:52,840 Speaker 1: And it came up a few times at the White 320 00:17:52,840 --> 00:17:56,280 Speaker 1: House Press briefing today whether he was going to become 321 00:17:56,400 --> 00:17:59,359 Speaker 1: more directly involved and whether he would actually engage with 322 00:17:59,440 --> 00:18:01,919 Speaker 1: Republican is not just the Democrats who are part of this. 323 00:18:02,000 --> 00:18:04,560 Speaker 1: We know he's met with with with Chris Murphy, the 324 00:18:04,680 --> 00:18:07,040 Speaker 1: Democrat from Connecticut. But is it time to stand up 325 00:18:07,080 --> 00:18:09,960 Speaker 1: and say, you know, I can influence this, here's what 326 00:18:10,000 --> 00:18:12,479 Speaker 1: I'd like to see. Um. I think he should do 327 00:18:12,520 --> 00:18:15,320 Speaker 1: what he's been doing, which has let these senators work 328 00:18:15,400 --> 00:18:17,879 Speaker 1: this out. If they need him to step in, I 329 00:18:17,920 --> 00:18:20,320 Speaker 1: think he absolutely should do that. But at this point 330 00:18:20,680 --> 00:18:22,919 Speaker 1: they seem to have forward movement, so I wouldn't want 331 00:18:22,960 --> 00:18:25,920 Speaker 1: him to step in into that doesn't. And you know, Joe, 332 00:18:26,000 --> 00:18:28,399 Speaker 1: you mentioned something critically important to the congressman about the 333 00:18:28,440 --> 00:18:31,160 Speaker 1: red flag laws in Massachusetts, and I remember this, Well, 334 00:18:31,640 --> 00:18:34,160 Speaker 1: that's what we mean. You know, in theory, these sound 335 00:18:34,359 --> 00:18:36,600 Speaker 1: very good, but when you get to those details that 336 00:18:36,640 --> 00:18:39,280 Speaker 1: Doug was just talking about, that's where the rubber hits 337 00:18:39,280 --> 00:18:41,199 Speaker 1: the road. It can be very tough for people to 338 00:18:41,200 --> 00:18:43,720 Speaker 1: sign on. And by the way, not just Republicans. You've 339 00:18:43,720 --> 00:18:46,520 Speaker 1: got to hold all the Democrats. We've got Warnock hass 340 00:18:46,520 --> 00:18:49,439 Speaker 1: and we've got Cortez master O'Kelly. These people in purple 341 00:18:49,520 --> 00:18:53,000 Speaker 1: states have voters they need who feel very strongly about 342 00:18:53,240 --> 00:18:55,119 Speaker 1: the Second Amendment. And I'm not saying they're going to 343 00:18:55,200 --> 00:18:57,199 Speaker 1: vote against it, but you've got to keep them on 344 00:18:57,240 --> 00:19:00,080 Speaker 1: board as well. Doug when you consider the idea of 345 00:19:00,280 --> 00:19:02,960 Speaker 1: you know, they couldn't get a federal red flag together, 346 00:19:03,320 --> 00:19:07,199 Speaker 1: we're incentivizing states under the language in this legislation, or 347 00:19:07,240 --> 00:19:09,000 Speaker 1: I guess I can't even say that, but not under 348 00:19:09,040 --> 00:19:13,760 Speaker 1: the handshake language going forward here, how many red states 349 00:19:14,040 --> 00:19:17,200 Speaker 1: are going to take the money to adopt read state laws, 350 00:19:17,520 --> 00:19:20,119 Speaker 1: red flag laws. The short answer, the short answers, we 351 00:19:20,160 --> 00:19:22,960 Speaker 1: don't know. UM. You know, what we've often seen is, 352 00:19:23,400 --> 00:19:25,680 Speaker 1: you know, money is available to states for various purposes, 353 00:19:25,720 --> 00:19:28,680 Speaker 1: and some some states take the money, some states don't. 354 00:19:28,720 --> 00:19:32,720 Speaker 1: It sometimes is remarkable when Republican governor UM expands a 355 00:19:33,119 --> 00:19:36,280 Speaker 1: you know, medicare for instance, UM, where we've seen more 356 00:19:36,280 --> 00:19:39,520 Speaker 1: Republican governors accepting that money where they haven't in the past. 357 00:19:39,760 --> 00:19:42,359 Speaker 1: But at this point, we just don't know. And you know, 358 00:19:42,520 --> 00:19:45,440 Speaker 1: this is I think emphasizes what's really been a challenge, 359 00:19:46,160 --> 00:19:48,240 Speaker 1: not just on this issue, but but on so many 360 00:19:48,240 --> 00:19:51,560 Speaker 1: issues of letting the perfect be the enemy of the good, 361 00:19:51,720 --> 00:19:55,160 Speaker 1: and so often we hear, whether it's on this bill 362 00:19:55,440 --> 00:19:59,480 Speaker 1: or on other issues, the answer that this isn't the solution. 363 00:20:00,119 --> 00:20:02,080 Speaker 1: We all We often then lose sight of trying to 364 00:20:02,119 --> 00:20:05,960 Speaker 1: find a solution because something isn't the final solution, and 365 00:20:06,400 --> 00:20:09,719 Speaker 1: if if we can't get to the perfect, let's accept 366 00:20:09,720 --> 00:20:11,800 Speaker 1: some good. And it's one of the reasons why it's 367 00:20:11,800 --> 00:20:14,720 Speaker 1: been so significant that leadership has stayed out of it. 368 00:20:14,880 --> 00:20:17,600 Speaker 1: Mitch McConnell's not involved in this process. Schumer is not 369 00:20:17,680 --> 00:20:19,879 Speaker 1: involved in this process. And that's a good thing in 370 00:20:19,880 --> 00:20:22,239 Speaker 1: this case. And behold, there's something to show for it. 371 00:20:22,480 --> 00:20:24,840 Speaker 1: I'm just curious, though, Doug, where the red flag law 372 00:20:24,960 --> 00:20:27,960 Speaker 1: kind of falls on the partisan scale here. Is that 373 00:20:28,080 --> 00:20:32,960 Speaker 1: seen as you know, sort of conte damaging gun control 374 00:20:33,640 --> 00:20:38,119 Speaker 1: in in the conservative sort of Second Amendment world, or 375 00:20:38,160 --> 00:20:40,800 Speaker 1: is that something after this series of shootings that everyone 376 00:20:40,800 --> 00:20:43,840 Speaker 1: seems to be kind of open to. Well more people 377 00:20:43,840 --> 00:20:46,959 Speaker 1: were certainly open to it. And as Congressman said, you know, 378 00:20:47,040 --> 00:20:49,479 Speaker 1: it's hard to prove a crime before it has happened, 379 00:20:49,920 --> 00:20:53,200 Speaker 1: and you know that that's a legitimate issue as as 380 00:20:53,200 --> 00:20:56,040 Speaker 1: we move forward and how to you know, consider red 381 00:20:56,040 --> 00:20:59,200 Speaker 1: flag laws and and you know, warnings and so forth. 382 00:21:00,119 --> 00:21:02,760 Speaker 1: Starting to see some members change on this, some minds 383 00:21:02,800 --> 00:21:06,280 Speaker 1: on the Republican side, but it's clearly not universal. Do 384 00:21:06,320 --> 00:21:10,000 Speaker 1: you need the idea of going through juvenile criminal records 385 00:21:10,920 --> 00:21:15,040 Speaker 1: and mental health records when applicable in a background check, 386 00:21:15,920 --> 00:21:18,920 Speaker 1: gives you more hope than you had in the effectiveness 387 00:21:18,960 --> 00:21:21,679 Speaker 1: of this legislation or not it does. I think for 388 00:21:21,720 --> 00:21:25,840 Speaker 1: me that a proportion is probably the biggest surprise that 389 00:21:25,880 --> 00:21:29,280 Speaker 1: there was, you know, this bipartisan support for that, and 390 00:21:29,600 --> 00:21:32,159 Speaker 1: it would be profoundly important if they were able to 391 00:21:32,240 --> 00:21:34,399 Speaker 1: push it through. But I think there is sort of 392 00:21:34,400 --> 00:21:36,159 Speaker 1: a through line in both of these. You know, you 393 00:21:36,160 --> 00:21:39,040 Speaker 1: look at the incentives for red flag laws, you look 394 00:21:39,080 --> 00:21:41,960 Speaker 1: at these more extended background checks with mental health checks 395 00:21:41,960 --> 00:21:44,520 Speaker 1: and other things for younger people under twenty one, and 396 00:21:44,560 --> 00:21:47,480 Speaker 1: there are real and serious and profound questions that people 397 00:21:47,480 --> 00:21:50,479 Speaker 1: have about the denial of due process as it pertains 398 00:21:50,520 --> 00:21:53,080 Speaker 1: to red flags, and then as it pertains to the 399 00:21:53,200 --> 00:21:56,440 Speaker 1: juvenile records, to privacy. So those are the kinds of 400 00:21:56,560 --> 00:21:59,040 Speaker 1: nitty gritty things that they're going to have to address, 401 00:21:59,160 --> 00:22:02,359 Speaker 1: because people to rightly, so very seriously that we have 402 00:22:02,440 --> 00:22:04,480 Speaker 1: due process in this country, we have a right to 403 00:22:04,560 --> 00:22:08,280 Speaker 1: privacy language, yeah when it comes to healthcare, mental health 404 00:22:08,320 --> 00:22:10,800 Speaker 1: in those things, and so you know, it's one thing 405 00:22:10,840 --> 00:22:12,920 Speaker 1: to in you know, in a thirty thousand foot level, 406 00:22:12,920 --> 00:22:14,720 Speaker 1: say yeah, I want a red flag law. When you 407 00:22:14,720 --> 00:22:17,800 Speaker 1: look at how it works, people do have serious questions. Jennie, 408 00:22:17,800 --> 00:22:20,800 Speaker 1: how about the boyfriend loophole? Though we only have thirty seconds, 409 00:22:20,800 --> 00:22:23,080 Speaker 1: but that is actually something that's not really come up 410 00:22:23,080 --> 00:22:26,479 Speaker 1: in this conversation nationally. That gets to the idea of 411 00:22:26,520 --> 00:22:30,520 Speaker 1: domestic violence, not just school shootings. Yeah, and again really 412 00:22:30,520 --> 00:22:33,240 Speaker 1: critically important a way to stop this, but also raises 413 00:22:33,320 --> 00:22:36,680 Speaker 1: questions about due process and about people being wrongly accused. 414 00:22:36,680 --> 00:22:42,520 Speaker 1: Those are real concerns people have just forever complicated. Great 415 00:22:42,560 --> 00:22:44,840 Speaker 1: conversation though, and great to have Doug High with us. 416 00:22:45,000 --> 00:22:47,440 Speaker 1: Jennie Chanzana with us for the hour. Our panel here 417 00:22:47,440 --> 00:22:50,639 Speaker 1: on Bloomberg Sound On. I'm Joe Matthew in Washington. Coming up. 418 00:22:50,680 --> 00:22:54,680 Speaker 1: Inflation is a bear for the White House. Will gauge 419 00:22:54,760 --> 00:22:58,280 Speaker 1: the level of panic ahead with Greg Valier. This is 420 00:22:58,280 --> 00:23:04,360 Speaker 1: Bloomberg MH. So many blockbusters this week, writes Gregg Valiere. 421 00:23:04,840 --> 00:23:07,879 Speaker 1: The January six committee going for the jugular gun reform 422 00:23:07,960 --> 00:23:10,080 Speaker 1: bill finally moving. Kind of sounds like this hour so 423 00:23:10,200 --> 00:23:16,320 Speaker 1: far at an Iranian nuclear deal apparently dead. But the 424 00:23:16,359 --> 00:23:19,879 Speaker 1: big story, he writes, is the Washington panic over inflation, 425 00:23:20,680 --> 00:23:24,080 Speaker 1: which may lead the Federal Reserve to consider more aggressive tightening. 426 00:23:24,119 --> 00:23:27,520 Speaker 1: That's actually where we started this hour, of course, talking 427 00:23:27,560 --> 00:23:30,560 Speaker 1: about that with Jess. The market reaction today has been 428 00:23:30,760 --> 00:23:34,080 Speaker 1: brutal at the gasoline price spike. I'm going down the 429 00:23:34,119 --> 00:23:39,760 Speaker 1: note from Greg Valiere and the increasingly angry president. You 430 00:23:39,760 --> 00:23:42,720 Speaker 1: heard him in Los Angeles on Friday. He's at the 431 00:23:42,760 --> 00:23:45,000 Speaker 1: Port of l A. Remember we talked to the director 432 00:23:45,040 --> 00:23:49,080 Speaker 1: of the port a little while after about shipping industry 433 00:23:49,119 --> 00:23:53,399 Speaker 1: profits and he got really upset. Listen to Joe Biden 434 00:23:53,440 --> 00:23:56,200 Speaker 1: at the port. Every once in a while, something that 435 00:23:56,280 --> 00:24:01,119 Speaker 1: you learned makes viscerally angry. If you had the person 436 00:24:01,160 --> 00:24:03,960 Speaker 1: in front of you, you'd want to pop him. No, 437 00:24:04,080 --> 00:24:08,880 Speaker 1: I really mean it. Dre are nine nine major ocean 438 00:24:08,960 --> 00:24:13,120 Speaker 1: line shipping companies that shipped from Asia to the United States. 439 00:24:13,960 --> 00:24:19,280 Speaker 1: Nine they formed three consortium. These companies have raised their 440 00:24:19,359 --> 00:24:26,080 Speaker 1: prices by as much as one thousand percent, and he 441 00:24:26,200 --> 00:24:33,119 Speaker 1: wants to pop him. It's like a Y I oughta um. 442 00:24:33,119 --> 00:24:35,800 Speaker 1: Greg Valier always great to have you. Do you think 443 00:24:35,800 --> 00:24:40,000 Speaker 1: that was in the prompter or was that was that spontaneous? No, 444 00:24:40,440 --> 00:24:43,200 Speaker 1: it's spontaneous. That is why Joe they don't let him 445 00:24:43,240 --> 00:24:47,080 Speaker 1: do very many press conferences because when he's unscripted. Who 446 00:24:47,119 --> 00:24:50,480 Speaker 1: knows what he's gonna say. Talked about ex on Mobile 447 00:24:50,520 --> 00:24:52,359 Speaker 1: as well, is that they're making more money than God, 448 00:24:52,560 --> 00:24:56,199 Speaker 1: pay your fair share and so forth. I mean, is 449 00:24:56,240 --> 00:24:58,160 Speaker 1: this kind of what it's come to? And I got 450 00:24:58,160 --> 00:25:00,760 Speaker 1: to this a little bit earlier with Congressman Lynch Greg 451 00:25:00,800 --> 00:25:02,800 Speaker 1: You know, we're all it's part partly on us, right, 452 00:25:02,800 --> 00:25:05,200 Speaker 1: We're asking them every single day, what are you gonna 453 00:25:05,200 --> 00:25:08,040 Speaker 1: do about inflation? When the White House has kind of 454 00:25:08,160 --> 00:25:10,520 Speaker 1: used every tool it's got, right, maybe there's something I'm 455 00:25:10,520 --> 00:25:13,639 Speaker 1: not thinking of. I guess there's China tariffs. They've deferred 456 00:25:13,680 --> 00:25:15,879 Speaker 1: to the FED argue with their late or not. But 457 00:25:16,359 --> 00:25:19,160 Speaker 1: my goodness that you know what else is Joe Biden 458 00:25:19,200 --> 00:25:21,760 Speaker 1: going to say? At this point? The cupboard is pretty 459 00:25:21,800 --> 00:25:24,159 Speaker 1: bare when it comes to policies. There's a leak this 460 00:25:24,240 --> 00:25:27,480 Speaker 1: evening that they may revive their idea of a gasoline 461 00:25:28,200 --> 00:25:31,640 Speaker 1: price rebate. I wouldn't rule it out. I mean, it's 462 00:25:31,880 --> 00:25:33,879 Speaker 1: going to cost money, but I think people might like 463 00:25:33,960 --> 00:25:37,000 Speaker 1: seeing that. But there's not a lot that he can do. 464 00:25:37,080 --> 00:25:39,880 Speaker 1: And to rely on the FED is ironic because an 465 00:25:39,880 --> 00:25:42,800 Speaker 1: incumbent president doesn't want to have a FED raising rates 466 00:25:42,880 --> 00:25:45,240 Speaker 1: and that's what we're going to see. Well, that's for sure. 467 00:25:45,320 --> 00:25:48,159 Speaker 1: We're well on our way there, of course, But what 468 00:25:48,200 --> 00:25:50,720 Speaker 1: do you make of the messaging. It's been very deliberate lately. 469 00:25:50,800 --> 00:25:54,080 Speaker 1: Defer to the FED. Talk about the independence of the Fed. 470 00:25:54,400 --> 00:25:56,520 Speaker 1: Karine John Fare was doing that just an hour ago 471 00:25:57,119 --> 00:25:59,920 Speaker 1: in the briefing room. And then remind everybody that you know, 472 00:26:00,119 --> 00:26:02,440 Speaker 1: you've got this China competes bill, you've got the chip 473 00:26:02,440 --> 00:26:05,520 Speaker 1: ACKed waiting, and you've got ideas from build back better 474 00:26:05,560 --> 00:26:08,000 Speaker 1: that might be good to lower prescription drug prices and 475 00:26:08,040 --> 00:26:10,600 Speaker 1: so forth. But that's going to be the answer tomorrow, 476 00:26:10,760 --> 00:26:13,840 Speaker 1: next week and in the month after right, and before 477 00:26:13,880 --> 00:26:15,480 Speaker 1: you know it, Joe, we're going to have the July 478 00:26:15,600 --> 00:26:18,840 Speaker 1: four break, and then there's a five week August break 479 00:26:18,880 --> 00:26:22,040 Speaker 1: going into early September, and then there's the election, and 480 00:26:22,200 --> 00:26:24,040 Speaker 1: I think there's not a lot of time left to 481 00:26:24,080 --> 00:26:27,119 Speaker 1: get much done. I think that relying on the FED 482 00:26:27,960 --> 00:26:30,840 Speaker 1: is risky because the Fed is going to do some 483 00:26:30,880 --> 00:26:34,840 Speaker 1: real damage to interest sensitive things. Does the gunbelt chock 484 00:26:34,960 --> 00:26:37,280 Speaker 1: up to be a win if this thing gets past, Yeah, 485 00:26:37,320 --> 00:26:40,320 Speaker 1: it does. I think he could claim it's better than 486 00:26:40,359 --> 00:26:43,560 Speaker 1: nothing we've done something. Of course, that's going to take 487 00:26:43,560 --> 00:26:46,760 Speaker 1: another week or two before it gets done. But yeah, 488 00:26:46,800 --> 00:26:49,720 Speaker 1: he desperately needs a victory and this would be one. 489 00:26:50,200 --> 00:26:52,040 Speaker 1: Let me ask you this, Does a trip to Saudi 490 00:26:52,080 --> 00:26:54,639 Speaker 1: Arabia end up being a win if it actually lowers 491 00:26:54,920 --> 00:26:58,760 Speaker 1: oil prices? That's unclear. I think he's got two constituents 492 00:26:58,760 --> 00:27:01,000 Speaker 1: that won't be happy, won't his people who don't like 493 00:27:01,080 --> 00:27:04,000 Speaker 1: the way Saudis the Saudi's treat people in terms of 494 00:27:04,080 --> 00:27:08,720 Speaker 1: human rights. The others the environmentalists who don't like fossil fuels, 495 00:27:08,760 --> 00:27:10,760 Speaker 1: And Joe Biden is going to go to Saudi Arabia 496 00:27:10,920 --> 00:27:14,880 Speaker 1: trying to get more fossil fuels. Does that angry talk 497 00:27:14,960 --> 00:27:17,879 Speaker 1: work the you know show, show him you're mad? Mad 498 00:27:18,000 --> 00:27:19,800 Speaker 1: as hell? I'm not going to take it anymore? Or 499 00:27:19,880 --> 00:27:24,240 Speaker 1: is is that why we're in the thirties for approval ratings. 500 00:27:24,720 --> 00:27:27,920 Speaker 1: I'm not sure it's constructive. I understand that he's frustrated, 501 00:27:28,240 --> 00:27:30,439 Speaker 1: and frankly, Joe, I think that he has to be 502 00:27:30,520 --> 00:27:35,359 Speaker 1: thinking about only one term. I've been writing this. It's controversial, 503 00:27:35,440 --> 00:27:37,880 Speaker 1: but you were ahead of the New York Times on this. Yes, 504 00:27:38,280 --> 00:27:41,240 Speaker 1: as I pointed out to people today. But I think 505 00:27:41,240 --> 00:27:45,080 Speaker 1: that there's there's some there there. I think that, well, 506 00:27:45,119 --> 00:27:47,439 Speaker 1: you went further than that, you said maybe not finish 507 00:27:47,520 --> 00:27:51,000 Speaker 1: this term. Uh, let's let's just jump right to it. 508 00:27:51,080 --> 00:27:53,720 Speaker 1: What do you what's making you think that? I think 509 00:27:53,720 --> 00:27:57,080 Speaker 1: there's going to be a show acking on November eight. 510 00:27:57,119 --> 00:28:00,720 Speaker 1: The Democrats are going to take terrible losses in the House. 511 00:28:01,080 --> 00:28:04,320 Speaker 1: They'll lose the House and losses in the Senate as well. 512 00:28:05,119 --> 00:28:08,760 Speaker 1: And I think that the Democrats are seeing in Joe 513 00:28:08,800 --> 00:28:12,000 Speaker 1: Biden somebody who has lost a couple of miles off 514 00:28:12,080 --> 00:28:14,960 Speaker 1: his fastball. I don't. I'm not a doctor. I can't 515 00:28:14,960 --> 00:28:18,040 Speaker 1: say anything for sure, but I think he's not quite 516 00:28:18,040 --> 00:28:22,479 Speaker 1: as sharp as he was. That's becoming a very common theme. Uh. 517 00:28:22,560 --> 00:28:25,240 Speaker 1: And he hasn't been anything done. But that means a 518 00:28:25,280 --> 00:28:28,240 Speaker 1: resignation or how do you mean not not not capable 519 00:28:28,280 --> 00:28:31,840 Speaker 1: serving the rest of this term. I think that he 520 00:28:32,040 --> 00:28:35,359 Speaker 1: may be in a position where he would step down, 521 00:28:35,800 --> 00:28:39,200 Speaker 1: maybe after after Thanksgiving. I don't. I don't rule that 522 00:28:39,240 --> 00:28:42,920 Speaker 1: out at all. I will say for I feel quite 523 00:28:42,960 --> 00:28:45,800 Speaker 1: strongly that he will not seek a second term. This 524 00:28:45,840 --> 00:28:49,080 Speaker 1: is coming from Greg Valier with us today on Bloomberg. 525 00:28:49,120 --> 00:28:52,120 Speaker 1: This has been quite an hour, I'll tell you. Um 526 00:28:52,160 --> 00:28:54,760 Speaker 1: with regard to the gun legislation, you said, a couple 527 00:28:54,800 --> 00:28:58,880 Speaker 1: of weeks, is anything in the pipe? After that, I 528 00:28:58,960 --> 00:29:01,400 Speaker 1: mentioned the rem and some build back better. We started 529 00:29:01,400 --> 00:29:03,720 Speaker 1: hearing the word reconciliation a little more often. The last 530 00:29:03,720 --> 00:29:06,800 Speaker 1: couple of weeks, do they go for it? Uh? They may. 531 00:29:07,200 --> 00:29:09,480 Speaker 1: The key if you've you've heard this before, The key 532 00:29:09,560 --> 00:29:12,280 Speaker 1: is Joe Manchin and we'll see if he's willing to 533 00:29:12,320 --> 00:29:14,680 Speaker 1: do anything on build back better. Don't you love being 534 00:29:14,720 --> 00:29:17,200 Speaker 1: asked that question over and over and over again by 535 00:29:17,200 --> 00:29:18,720 Speaker 1: people like me? He said, Well, you could play the 536 00:29:18,760 --> 00:29:22,160 Speaker 1: tape back from a year ago. It's the same exactly. 537 00:29:22,320 --> 00:29:25,280 Speaker 1: There might be something I can't you can't rule it up. 538 00:29:25,720 --> 00:29:29,479 Speaker 1: I think I'm intrigued by this gas gasoline rebate idea 539 00:29:29,560 --> 00:29:32,120 Speaker 1: that might gain some traction in the next few days. 540 00:29:32,160 --> 00:29:36,040 Speaker 1: But again, the cupboard is pretty bare. January six Committee. 541 00:29:36,080 --> 00:29:37,960 Speaker 1: I have to admit, Greg, I felt like it was 542 00:29:38,000 --> 00:29:40,640 Speaker 1: more effective today in in the way the tape was edited, 543 00:29:40,640 --> 00:29:43,080 Speaker 1: in the way things were rolled out. Maybe they weren't 544 00:29:43,120 --> 00:29:45,880 Speaker 1: trying as hard. I'm not sure exactly, but boy, hearing 545 00:29:46,320 --> 00:29:49,160 Speaker 1: these top ranking Trump officials in their own words has 546 00:29:49,200 --> 00:29:54,120 Speaker 1: been pretty damaging. A devastating day for Donald Trump. Uh. 547 00:29:55,240 --> 00:29:58,280 Speaker 1: William Barr certainly made it quite clear what he said 548 00:29:58,280 --> 00:30:03,040 Speaker 1: he thought Trump maybe was an alternate universe. Uh. And 549 00:30:03,120 --> 00:30:05,320 Speaker 1: I think there was the other story that probably will 550 00:30:05,360 --> 00:30:07,479 Speaker 1: get a lot of play in the next day or so, 551 00:30:08,040 --> 00:30:11,120 Speaker 1: is that Trump's people raised a lot of money based 552 00:30:11,120 --> 00:30:14,200 Speaker 1: on they did. We're gonna talk about that next try 553 00:30:14,280 --> 00:30:17,800 Speaker 1: two and fifty million dollars. Great talk with Greg Valier. 554 00:30:17,920 --> 00:30:20,960 Speaker 1: We appreciated Greg a g F Investments. Will reassemble the 555 00:30:20,960 --> 00:30:27,440 Speaker 1: panel next. I'm Joe Matthew. This is Bloomberg. You're listening 556 00:30:27,520 --> 00:30:33,440 Speaker 1: to Bloomberg. You sound on with Joe Matthew on Bloomberg Radio. 557 00:30:34,160 --> 00:30:37,000 Speaker 1: And the redhead on the terminal not what this White 558 00:30:37,000 --> 00:30:40,160 Speaker 1: House wants to see. In following our conversation just now 559 00:30:40,160 --> 00:30:44,120 Speaker 1: with Greg Valier, you might want to pop someone inflation 560 00:30:44,280 --> 00:30:50,720 Speaker 1: data likely to push FED to consider seventy fits on Wednesday. 561 00:30:51,720 --> 00:30:53,640 Speaker 1: This was supposed to be further down the road, right. 562 00:30:53,680 --> 00:30:55,560 Speaker 1: It's based on a lot of the conversations we were 563 00:30:55,600 --> 00:31:00,000 Speaker 1: having beginning with surveillance this morning. We'll talk more about 564 00:31:00,000 --> 00:31:04,040 Speaker 1: out that, of course coming up on daybreak. Asia. I'm 565 00:31:04,120 --> 00:31:07,600 Speaker 1: Joe Matthew and Washington. This is Bloomberg. Sound on as 566 00:31:07,640 --> 00:31:10,240 Speaker 1: we reassemble our panel today. The top witness set to 567 00:31:10,280 --> 00:31:13,640 Speaker 1: testify before the the January six Committee today was a 568 00:31:13,720 --> 00:31:16,440 Speaker 1: no show, as you may have heard, and he had well, 569 00:31:16,440 --> 00:31:19,200 Speaker 1: he had a really good excuse. Donald Trump's former campaign manager, 570 00:31:19,200 --> 00:31:22,959 Speaker 1: Bill Stepien's wife went into labor this morning. The chairman 571 00:31:22,960 --> 00:31:24,720 Speaker 1: of the committee, Tho, says he was in town this. 572 00:31:24,920 --> 00:31:29,120 Speaker 1: Stepien was prepared to answer the panel's questions before life happened. 573 00:31:30,160 --> 00:31:32,320 Speaker 1: But it was amazing to see the plan B come 574 00:31:32,360 --> 00:31:35,760 Speaker 1: together or I'm not sure was this the backup plan 575 00:31:37,000 --> 00:31:40,400 Speaker 1: on the behalf of the committee. I mean, the committee 576 00:31:40,400 --> 00:31:42,200 Speaker 1: opens at ten thirty this morning. They put it back 577 00:31:42,280 --> 00:31:46,560 Speaker 1: half an hour. They open with video of Stepian from 578 00:31:46,600 --> 00:31:50,440 Speaker 1: his three hours of testimony, edited carefully into bites and 579 00:31:50,480 --> 00:31:53,080 Speaker 1: in some cases strung together with cuts of other people 580 00:31:53,120 --> 00:31:56,880 Speaker 1: testifying to create a story all on its own, like 581 00:31:56,920 --> 00:31:59,959 Speaker 1: a documentary. There was no narration from lawmakers or anybody else, 582 00:32:00,040 --> 00:32:03,360 Speaker 1: so you hear the questions from the lawyers, the answers 583 00:32:03,600 --> 00:32:07,800 Speaker 1: from these top ranking Trump officials. Was this James Scoldstone, 584 00:32:08,120 --> 00:32:10,360 Speaker 1: the former president of ABC News. We heard about He's 585 00:32:10,400 --> 00:32:13,240 Speaker 1: hired by the panel to help produce content for the hearings. 586 00:32:13,240 --> 00:32:14,920 Speaker 1: I thought that was for prime time, but I don't know. 587 00:32:15,360 --> 00:32:18,720 Speaker 1: I wonder, and today they focused on what was going 588 00:32:18,760 --> 00:32:22,000 Speaker 1: on in the Trump White House on election night, how 589 00:32:22,040 --> 00:32:25,320 Speaker 1: the mood changed when Arizona was called for Joe Biden. Remember, 590 00:32:25,360 --> 00:32:28,680 Speaker 1: of course it was called by Fox. And the conflicting 591 00:32:28,680 --> 00:32:31,320 Speaker 1: advice that the president received from his campaign manager, from 592 00:32:31,400 --> 00:32:35,480 Speaker 1: Jared Kushner, and as we learned today from an intoxicated 593 00:32:35,520 --> 00:32:38,680 Speaker 1: Rudy Giuliani, that's direct from the committee. Jason Miller confirmed 594 00:32:38,680 --> 00:32:42,920 Speaker 1: Giuliani was drinking and intoxicated that night. It went late, 595 00:32:42,960 --> 00:32:46,880 Speaker 1: of course, after midnight, and Rudy Giuliani got some time 596 00:32:46,920 --> 00:32:53,520 Speaker 1: with the presidents. Let's listen. There are suggestions by I 597 00:32:53,560 --> 00:32:55,920 Speaker 1: believe it was Marrior Giuliani to go and declare victory 598 00:32:56,400 --> 00:33:00,200 Speaker 1: and say that we wanted out right. Was arts too 599 00:33:00,200 --> 00:33:05,320 Speaker 1: early to be making any calls like that, UM. Ballots, 600 00:33:06,000 --> 00:33:09,320 Speaker 1: ballots were still being counted, ballots were still going to 601 00:33:09,360 --> 00:33:13,080 Speaker 1: be counted for days, UM, And it was far too 602 00:33:13,080 --> 00:33:16,080 Speaker 1: early to be making any properation like that. I remember 603 00:33:16,160 --> 00:33:19,600 Speaker 1: saying that the best of my memory, and I was 604 00:33:19,640 --> 00:33:22,520 Speaker 1: saying that we should not go and declare victory until 605 00:33:22,840 --> 00:33:25,479 Speaker 1: we had a better sense of the numbers. Okay, can 606 00:33:25,520 --> 00:33:28,400 Speaker 1: you be more specific about that conversation, in particular what 607 00:33:28,640 --> 00:33:32,200 Speaker 1: Mayor Giuliani said, your response, and then anybody else in 608 00:33:32,200 --> 00:33:36,560 Speaker 1: the rooms response. I think effectively, Mayor Giuliani was saying, 609 00:33:36,880 --> 00:33:40,320 Speaker 1: we wanted they're stealing it from us where all the 610 00:33:40,400 --> 00:33:43,480 Speaker 1: votes come from. We need to go say that we won, 611 00:33:45,000 --> 00:33:48,719 Speaker 1: and essentially that anyone who didn't agree with that position 612 00:33:48,880 --> 00:33:52,360 Speaker 1: was being weak. And so it began. That's Jason Miller again, 613 00:33:52,360 --> 00:33:55,320 Speaker 1: they're the presidential advisor answering questions from the lawyers. You 614 00:33:55,400 --> 00:33:59,240 Speaker 1: also heard the voice of Bill Stepian, the campaign manager, 615 00:33:59,240 --> 00:34:01,400 Speaker 1: who told the press it in that night. You know, 616 00:34:01,480 --> 00:34:03,200 Speaker 1: you might want to go out there say they're counting 617 00:34:03,200 --> 00:34:05,280 Speaker 1: the vote still will check back here tomorrow, and of 618 00:34:05,320 --> 00:34:08,520 Speaker 1: course that is not how it went. We reassemble the 619 00:34:08,560 --> 00:34:10,719 Speaker 1: panel on sound on Genie is back with Us today 620 00:34:10,760 --> 00:34:15,040 Speaker 1: Jeannie Chantano along with Doug High, Republican strategist. Doug, what 621 00:34:15,040 --> 00:34:19,799 Speaker 1: did you make of this today? Watching not just the 622 00:34:19,840 --> 00:34:22,040 Speaker 1: information come out a lot of this stuff we've heard, 623 00:34:22,160 --> 00:34:24,280 Speaker 1: but hearing it in their voices. These are the people 624 00:34:24,320 --> 00:34:28,840 Speaker 1: in the room repeatedly, including Donald Trump's daughter telling him 625 00:34:28,960 --> 00:34:32,760 Speaker 1: that he had lost. It's it's a very different context 626 00:34:32,840 --> 00:34:35,520 Speaker 1: when you hear these words directly from from somebody, whether 627 00:34:35,560 --> 00:34:38,799 Speaker 1: it's you know, in person testimony or or video. And 628 00:34:38,880 --> 00:34:41,239 Speaker 1: obviously what the committee is doing is they are laying 629 00:34:41,280 --> 00:34:43,400 Speaker 1: out you know, this is all political, but this is 630 00:34:43,440 --> 00:34:46,600 Speaker 1: also very much of essentially a legal proceeding. They are 631 00:34:46,640 --> 00:34:49,359 Speaker 1: building a case, um, and it seems clear that they'll 632 00:34:49,400 --> 00:34:52,040 Speaker 1: be making a lot of criminal referrals um, you know, 633 00:34:52,040 --> 00:34:54,200 Speaker 1: to the Department of Justice. Will have to see how 634 00:34:54,280 --> 00:34:57,960 Speaker 1: high and how far that goes. So they bring it 635 00:34:58,000 --> 00:35:01,719 Speaker 1: back to April today, any when the president at the time, 636 00:35:01,760 --> 00:35:04,360 Speaker 1: Donald Trump, was talking about, hey, if I lose this election, 637 00:35:04,440 --> 00:35:06,440 Speaker 1: it's only because it's rigged. And it went right up 638 00:35:06,480 --> 00:35:08,360 Speaker 1: until that night when they decided, all right, let's go 639 00:35:08,440 --> 00:35:11,280 Speaker 1: for it. Let's say that we won before they start 640 00:35:11,440 --> 00:35:15,600 Speaker 1: finding votes in in their words and Rudy Giuliani's words 641 00:35:15,960 --> 00:35:19,680 Speaker 1: at four o'clock in the morning, Uh, important to start 642 00:35:19,719 --> 00:35:22,400 Speaker 1: here at the source, right this, This is not a 643 00:35:22,440 --> 00:35:25,759 Speaker 1: president who was confused about what was going on. That's right. 644 00:35:25,800 --> 00:35:27,319 Speaker 1: And you know, I had a bit of, you know, 645 00:35:27,440 --> 00:35:30,239 Speaker 1: a sort of surreal experience listening to this, because of 646 00:35:30,239 --> 00:35:32,440 Speaker 1: course we all lived through this we pay, you know, 647 00:35:32,560 --> 00:35:35,640 Speaker 1: fairly close attention to these things. But you know, as 648 00:35:35,920 --> 00:35:37,919 Speaker 1: you think about what was going on the April before 649 00:35:37,920 --> 00:35:40,160 Speaker 1: the election and going forward, we knew he was making 650 00:35:40,200 --> 00:35:42,120 Speaker 1: these statements. You would hear him on and off, but 651 00:35:42,239 --> 00:35:44,760 Speaker 1: to see it laid out the way they did today, 652 00:35:44,800 --> 00:35:47,759 Speaker 1: starting back in April, going through to getting inside the 653 00:35:47,840 --> 00:35:52,279 Speaker 1: room in election night, and then continuing, it's it's a 654 00:35:52,440 --> 00:35:56,080 Speaker 1: stunning reality. And you know this idea that there was 655 00:35:56,120 --> 00:35:59,640 Speaker 1: this quote unquote team normal versus Trump, and they were 656 00:36:00,080 --> 00:36:04,359 Speaker 1: people who were enormously supportive of him and wanted him 657 00:36:04,360 --> 00:36:07,160 Speaker 1: to win, but telling him the reality and he wasn't 658 00:36:07,200 --> 00:36:11,720 Speaker 1: accepting it. It was I think a very very effective day. 659 00:36:11,840 --> 00:36:14,560 Speaker 1: And the most important thing is they are debunking this 660 00:36:14,680 --> 00:36:17,319 Speaker 1: claim that the election was stolen, and they are making 661 00:36:17,360 --> 00:36:20,960 Speaker 1: the case that the president himself knew that it wasn't stolen, 662 00:36:21,040 --> 00:36:25,279 Speaker 1: and he continued making this case anyways, which results in 663 00:36:25,320 --> 00:36:28,080 Speaker 1: the violence on January six, and so many people he trusted, 664 00:36:28,120 --> 00:36:32,640 Speaker 1: so many loyal uh Trump staffers, including his own family, 665 00:36:32,680 --> 00:36:34,560 Speaker 1: were telling him this. As it turns out, that was 666 00:36:34,640 --> 00:36:38,640 Speaker 1: really something to behold along with Bill Barr, I want 667 00:36:38,640 --> 00:36:41,960 Speaker 1: to hear this next portion here because it was remarkable. 668 00:36:42,000 --> 00:36:45,480 Speaker 1: The former Attorney General here loom large in the proceedings 669 00:36:45,480 --> 00:36:50,200 Speaker 1: today again not in person video testimony as and he 670 00:36:50,280 --> 00:36:52,680 Speaker 1: described as he began to give up on Donald Trump. 671 00:36:53,000 --> 00:36:55,640 Speaker 1: He describes a visit to the White House November twenty three, 672 00:36:55,880 --> 00:36:59,000 Speaker 1: his first visit after the election, spoke with Donald Trump 673 00:36:59,080 --> 00:37:02,600 Speaker 1: in person the first time, who was describing massive fraud 674 00:37:02,640 --> 00:37:05,359 Speaker 1: and question why the Department of Justice was not doing more. 675 00:37:06,120 --> 00:37:08,840 Speaker 1: As Bill Barr leaves the oval, he's with Jared Kushner 676 00:37:08,880 --> 00:37:12,880 Speaker 1: and Dan Scovino, the the social media director, and he 677 00:37:12,920 --> 00:37:16,319 Speaker 1: approaches them to ask the question here he is, how 678 00:37:16,360 --> 00:37:19,520 Speaker 1: long is how long is he gonna carry on with 679 00:37:19,600 --> 00:37:22,120 Speaker 1: this stolen election stuff? Where is this going to go? 680 00:37:23,080 --> 00:37:25,839 Speaker 1: And by that time A. Meadows had caught up with 681 00:37:25,920 --> 00:37:30,360 Speaker 1: me and uh leaving the office and caught up to 682 00:37:30,480 --> 00:37:37,960 Speaker 1: me and said, uh that uh uh. He said, look, 683 00:37:38,000 --> 00:37:43,479 Speaker 1: I I think that he's becoming more realistic and knows 684 00:37:43,600 --> 00:37:46,279 Speaker 1: that a limit how far he can take this. And 685 00:37:46,320 --> 00:37:48,480 Speaker 1: then Jared said, you know, yeah, we're working on this. 686 00:37:48,600 --> 00:37:51,759 Speaker 1: We're working on it. We're working on it. Doug Hi 687 00:37:51,920 --> 00:37:56,200 Speaker 1: that it's it's incredible to think that his his nearest 688 00:37:56,239 --> 00:37:58,640 Speaker 1: advisors at the time thought he was about to come around, 689 00:37:58,640 --> 00:38:00,920 Speaker 1: that Donald Trump would kind of drop the stolen election 690 00:38:01,040 --> 00:38:07,439 Speaker 1: thing that was Thanksgiving. It's now summer of two. Yeah, 691 00:38:07,640 --> 00:38:09,719 Speaker 1: I don't know what they expected him to come around on. 692 00:38:09,800 --> 00:38:12,680 Speaker 1: You know, If if anything, Trump has been remarkably as 693 00:38:12,680 --> 00:38:15,400 Speaker 1: wrong as he's been, has been remarkably consistent on this. 694 00:38:15,520 --> 00:38:17,680 Speaker 1: There has been no change in any of his rhetoric. 695 00:38:18,239 --> 00:38:22,000 Speaker 1: Um he's pushed list since before the election. You know. 696 00:38:22,080 --> 00:38:25,640 Speaker 1: He we often say about public speaking, tell people what 697 00:38:25,680 --> 00:38:27,680 Speaker 1: you're going to tell them, say it, and then tell 698 00:38:27,760 --> 00:38:30,200 Speaker 1: him what you just told him. That's essentially what Trump did. 699 00:38:30,480 --> 00:38:33,560 Speaker 1: He said the election was was rigged before he lost, 700 00:38:33,840 --> 00:38:35,799 Speaker 1: he said it while he lost, and he's continuing to 701 00:38:35,840 --> 00:38:38,000 Speaker 1: say it now. And you know, for for AIDS to 702 00:38:38,000 --> 00:38:40,759 Speaker 1: be surprised at this or to think that he would 703 00:38:40,760 --> 00:38:44,200 Speaker 1: somehow turn around says that they were either engaged massively 704 00:38:44,200 --> 00:38:46,359 Speaker 1: wishful thinking, or they don't know the guy at all. 705 00:38:46,840 --> 00:38:50,280 Speaker 1: They of course would be replaced by Rudy Giuliani and 706 00:38:50,320 --> 00:38:54,360 Speaker 1: in Sydney Powell and Company shortly thereafter. With regard to 707 00:38:54,400 --> 00:38:56,960 Speaker 1: the I guess what we'd call the the inner circle, 708 00:38:57,760 --> 00:39:00,320 Speaker 1: uh Genie. But to think that everyone in the Oval 709 00:39:00,360 --> 00:39:02,520 Speaker 1: office thought the President was going to probably drop this. 710 00:39:03,600 --> 00:39:07,520 Speaker 1: His supporters still believe it. Large percentages of Americans still 711 00:39:07,560 --> 00:39:09,879 Speaker 1: believe it. As this January six Committee does its work, 712 00:39:10,680 --> 00:39:13,800 Speaker 1: they do. I mean today there isn't a primary election 713 00:39:13,920 --> 00:39:16,920 Speaker 1: in Nevada, just as an example, and you've got somebody 714 00:39:17,000 --> 00:39:19,720 Speaker 1: running on the Republican side, Sam Brown, who has raised 715 00:39:19,719 --> 00:39:23,480 Speaker 1: an enormous amount of money on the big lie against 716 00:39:23,560 --> 00:39:27,239 Speaker 1: Adam Laxell, who is likely to win that primary, who 717 00:39:27,320 --> 00:39:31,160 Speaker 1: actually filed a lawsuit claiming that the election was stolen. 718 00:39:31,280 --> 00:39:33,600 Speaker 1: One of these two people is likely to be the 719 00:39:33,640 --> 00:39:36,880 Speaker 1: Republican nominee from Nevada, and very well could be the 720 00:39:36,920 --> 00:39:39,520 Speaker 1: next Senator from the state of Nevada. As Katherine Corti's 721 00:39:39,560 --> 00:39:43,120 Speaker 1: master face. Is a really tough election. So these that's 722 00:39:43,200 --> 00:39:47,040 Speaker 1: just one state, one primary where this very real lie 723 00:39:47,200 --> 00:39:50,960 Speaker 1: about this election has continued to resonate. And that's why 724 00:39:51,000 --> 00:39:53,680 Speaker 1: this is the most important thing the January six Committee 725 00:39:53,719 --> 00:39:56,560 Speaker 1: can do to underscore from the mounds of people who 726 00:39:56,640 --> 00:39:59,360 Speaker 1: know the President and who told him that this was 727 00:39:59,440 --> 00:40:02,560 Speaker 1: indeed a lie. By the way, Bill Stepien, again this 728 00:40:02,600 --> 00:40:04,680 Speaker 1: was Trump's campaign manager at the Times, is that he 729 00:40:04,719 --> 00:40:08,000 Speaker 1: was supposed to testify today wife when the labor I'm 730 00:40:08,040 --> 00:40:11,040 Speaker 1: sure Doug you might even know each other or work together, 731 00:40:11,120 --> 00:40:14,520 Speaker 1: but he's currently advising the Republican candidate. This is incredible, 732 00:40:15,320 --> 00:40:19,720 Speaker 1: who's running to unsee Liz Cheney, endorsed by Donald Trump, 733 00:40:19,719 --> 00:40:21,960 Speaker 1: continues to say the election was stolen? How can you 734 00:40:22,000 --> 00:40:25,439 Speaker 1: do both right now with a straight face? Doug, Well, 735 00:40:25,680 --> 00:40:28,000 Speaker 1: you know, certainly in politics you make different arguments for 736 00:40:28,040 --> 00:40:32,040 Speaker 1: different purposes and in different places. Um, But you know this, 737 00:40:32,200 --> 00:40:34,640 Speaker 1: this is obviously, you know, a stretch and and something 738 00:40:34,680 --> 00:40:37,040 Speaker 1: that I don't think anybody was really paying much attention 739 00:40:37,080 --> 00:40:39,800 Speaker 1: to until obviously this week. No, of course, you know, 740 00:40:39,840 --> 00:40:42,040 Speaker 1: we'll we'll have to see, you know, we'll have to 741 00:40:42,040 --> 00:40:44,200 Speaker 1: see if he's if he says anything about this, or 742 00:40:44,320 --> 00:40:47,360 Speaker 1: his candidate UM says anything about this. But it obviously, 743 00:40:47,719 --> 00:40:50,319 Speaker 1: you know, creates more and again this this is very 744 00:40:50,360 --> 00:40:53,000 Speaker 1: political proceeding, you know, more things for Liz Cheney to 745 00:40:53,040 --> 00:40:56,200 Speaker 1: talk about, um when she's campaigning back home. Well, boy, 746 00:40:56,239 --> 00:40:59,480 Speaker 1: I guess so do you think that would affect his performance? 747 00:40:59,760 --> 00:41:02,680 Speaker 1: Or as this Washington genie and we're cooler than that, 748 00:41:03,360 --> 00:41:05,640 Speaker 1: you know, you're very cool, Joe Matthew right down there 749 00:41:05,640 --> 00:41:07,960 Speaker 1: in Washington you know up here in New York. We 750 00:41:08,040 --> 00:41:10,640 Speaker 1: of course no Bill Stepion because he was enormously involved 751 00:41:10,680 --> 00:41:13,200 Speaker 1: in Bridgegate with Chris Christie, so he has a long 752 00:41:13,560 --> 00:41:16,200 Speaker 1: history with with those of us in the Northeast. Wait, 753 00:41:16,520 --> 00:41:20,200 Speaker 1: there's just there's so many layers. Genie, Doug, Thank you, Doug. 754 00:41:20,239 --> 00:41:23,440 Speaker 1: Comeback soon. Genie will of course, she's part of the 755 00:41:23,480 --> 00:41:26,880 Speaker 1: family here on Bloomberg Sound on the fastest hour in politics. 756 00:41:26,880 --> 00:41:28,600 Speaker 1: We'll meet you back here tomorrow. We'll get two more 757 00:41:28,600 --> 00:41:31,160 Speaker 1: hearings this week and a lot more to follow from 758 00:41:31,160 --> 00:41:32,920 Speaker 1: this White House. This is Bloomberg