1 00:00:01,720 --> 00:00:06,240 Speaker 1: Now from our nation's capital. This is Bloomberg's sound On. 2 00:00:07,240 --> 00:00:10,600 Speaker 1: I personally approved the decision to seek a search warrant. 3 00:00:10,840 --> 00:00:14,200 Speaker 1: In this manage, they took my passport. They took things 4 00:00:14,240 --> 00:00:17,600 Speaker 1: that they should have never taken. Bloomberg sound on Politics, 5 00:00:17,680 --> 00:00:22,200 Speaker 1: Policy and perspective from DC's top name. While higher interest rates, 6 00:00:22,360 --> 00:00:26,040 Speaker 1: slower growth, and software labor market conditions will bring down inflation, 7 00:00:26,160 --> 00:00:28,960 Speaker 1: they will also bring some pain to households and businesses. 8 00:00:29,000 --> 00:00:31,840 Speaker 1: And I think the talking talk is part of monetary poem. 9 00:00:31,920 --> 00:00:34,040 Speaker 1: So we're gonna do a close approach to the moon 10 00:00:34,120 --> 00:00:37,400 Speaker 1: will only be about sixty miles from the surface. Bloomberg 11 00:00:37,560 --> 00:00:42,360 Speaker 1: Sound On with Joe Matthew on Bloomberg Radio. The Mara 12 00:00:42,479 --> 00:00:46,880 Speaker 1: Lago affidavit shows highly classified documents were in the house 13 00:00:47,159 --> 00:00:50,120 Speaker 1: and led to the search. Welcome to the fastest hour 14 00:00:50,240 --> 00:00:53,239 Speaker 1: in politics. With more than thirty pages to comb through here, 15 00:00:53,280 --> 00:00:57,400 Speaker 1: most of them with redactions, will the release cause even 16 00:00:57,440 --> 00:01:00,640 Speaker 1: more confusion? We're joined by an expert to day, former 17 00:01:00,640 --> 00:01:05,520 Speaker 1: federal prosecutor Michael Zelden with his insights. J Powell drops 18 00:01:05,520 --> 00:01:08,679 Speaker 1: the hammer in Jackson Hole. But does he mean what 19 00:01:08,760 --> 00:01:11,600 Speaker 1: he says? We'll read between the lines coming up with 20 00:01:11,600 --> 00:01:14,800 Speaker 1: Bloomberg's Joe Wisenthal later on this hour, and we'll talk 21 00:01:14,840 --> 00:01:17,880 Speaker 1: about it all with the panel Bloomberg Politics contributor and 22 00:01:17,959 --> 00:01:22,600 Speaker 1: Republican strategist Rick Davis today joined by Democratic strategist Max Burns, 23 00:01:22,600 --> 00:01:26,000 Speaker 1: founder of Third Degree Strategies. So we have the affid 24 00:01:26,040 --> 00:01:30,880 Speaker 1: David total of thirty eight pages, most of them redacted. 25 00:01:31,360 --> 00:01:33,479 Speaker 1: Uh And when I say redacted, you know, a lot 26 00:01:33,520 --> 00:01:37,520 Speaker 1: of the full page just you know, black lines. Uh So, Yeah, 27 00:01:37,640 --> 00:01:40,080 Speaker 1: leaves a lot to the imagination. But it's clear the 28 00:01:40,120 --> 00:01:43,200 Speaker 1: former president had some of the most classified defense and 29 00:01:43,280 --> 00:01:50,520 Speaker 1: intelligence material, some intercepted foreign communications intelligence gathered by American 30 00:01:50,600 --> 00:01:54,720 Speaker 1: spies sitting in boxes at Mara A Lago. The special 31 00:01:54,760 --> 00:01:57,760 Speaker 1: agent who wrote the report his name per name redacted, 32 00:01:58,040 --> 00:02:02,280 Speaker 1: describes an investigation prompted by the discovery of hundreds of 33 00:02:02,320 --> 00:02:06,840 Speaker 1: pages of classified documents in fifteen boxes recovered by the 34 00:02:06,920 --> 00:02:10,359 Speaker 1: National Archives earlier in the year, twenty five of them 35 00:02:10,440 --> 00:02:15,200 Speaker 1: labeled top secret. It shows the Archives and federal agents 36 00:02:15,200 --> 00:02:18,840 Speaker 1: repeatedly asking for documents to be returned. This went on 37 00:02:18,880 --> 00:02:21,520 Speaker 1: for months. The former president reacts on his social media 38 00:02:21,600 --> 00:02:27,239 Speaker 1: site today, calling it a total public relations subterfuge and well, 39 00:02:27,280 --> 00:02:30,760 Speaker 1: I guess he made similar comments before the release on 40 00:02:31,440 --> 00:02:35,840 Speaker 1: Lou Dobbs podcasting. He's got a podcast, don't you. Here's 41 00:02:35,960 --> 00:02:38,760 Speaker 1: Donald Trump talking to Lou Dobbs. They could have come 42 00:02:38,800 --> 00:02:40,760 Speaker 1: in and they could have talked to us, and they 43 00:02:40,760 --> 00:02:44,120 Speaker 1: could have taken whatever they needed, but instead they rated it. 44 00:02:44,200 --> 00:02:48,200 Speaker 1: They took my passports, they took things that they should 45 00:02:48,200 --> 00:02:52,560 Speaker 1: have never taken with uh that are privileged and it's 46 00:02:52,560 --> 00:02:55,680 Speaker 1: a disgrace to our country. Let's talk more about what 47 00:02:55,680 --> 00:02:58,840 Speaker 1: we've learned today with Michael zelda In, former federal prosecutor 48 00:02:58,880 --> 00:03:01,840 Speaker 1: and former Special Counselor Robert Mueller while at the Justice Department. 49 00:03:02,160 --> 00:03:04,400 Speaker 1: It's been a great asset to this program helping us 50 00:03:04,440 --> 00:03:07,480 Speaker 1: understand all of this so far. Michael, welcome back. What 51 00:03:07,520 --> 00:03:12,000 Speaker 1: did you see today in this albeit heavily redacted release 52 00:03:12,080 --> 00:03:14,320 Speaker 1: that that might have changed your view of the case. 53 00:03:16,080 --> 00:03:19,840 Speaker 1: The thing that struck me was the very first sentence 54 00:03:20,360 --> 00:03:24,639 Speaker 1: of the affidavit where it says the government is conducting, 55 00:03:25,120 --> 00:03:30,120 Speaker 1: meaning it's ongoing, a criminal investigation concerning the improper removal 56 00:03:30,200 --> 00:03:35,320 Speaker 1: and storage of classified information in unauthorized spaces, as well 57 00:03:35,360 --> 00:03:40,080 Speaker 1: as the unlawful concealment or removal of government records, those 58 00:03:40,080 --> 00:03:44,960 Speaker 1: records containing highly classified documents. So there is an ongoing 59 00:03:45,080 --> 00:03:50,520 Speaker 1: criminal investigation into the removal and concealment of these documents, 60 00:03:50,720 --> 00:03:57,000 Speaker 1: and that the identities of the persons who may have 61 00:03:57,600 --> 00:04:01,400 Speaker 1: removed or retained these documents is what's under under review. 62 00:04:01,480 --> 00:04:04,320 Speaker 1: So what I learned principally is that this is not 63 00:04:04,600 --> 00:04:08,360 Speaker 1: solely focused on Donald Trump, if at all, but rather 64 00:04:08,480 --> 00:04:13,960 Speaker 1: all his minions, all the people who were responsible for 65 00:04:14,080 --> 00:04:18,600 Speaker 1: the removal of and concealment of these documents. So this 66 00:04:18,680 --> 00:04:22,640 Speaker 1: could be a much broader investigation, which means if Donald 67 00:04:22,640 --> 00:04:25,360 Speaker 1: Trump is a subject, then there are many many more 68 00:04:25,400 --> 00:04:29,159 Speaker 1: people who could have exposure who may in turn be 69 00:04:29,200 --> 00:04:32,920 Speaker 1: willing to cooperate. This is partly then why if if 70 00:04:32,960 --> 00:04:34,839 Speaker 1: if we can go down that road a little bit further, 71 00:04:34,920 --> 00:04:38,960 Speaker 1: then I'm assuming you you would think that's why they 72 00:04:39,240 --> 00:04:42,120 Speaker 1: got the surveillance tapes from our alago. They were subpoenaed 73 00:04:42,200 --> 00:04:45,000 Speaker 1: the video surveillance back in June to see who was 74 00:04:45,040 --> 00:04:48,520 Speaker 1: coming and going from these areas where these boxes restored, 75 00:04:49,080 --> 00:04:53,359 Speaker 1: exactly because they have an investigation here that also contains 76 00:04:53,400 --> 00:04:56,320 Speaker 1: a thread of obstruction, So they want to know who 77 00:04:56,400 --> 00:05:02,159 Speaker 1: may have not only obtained, retained sealed, but then obstructed 78 00:05:02,360 --> 00:05:07,200 Speaker 1: the investigation. And those video tapes of who moved things 79 00:05:07,279 --> 00:05:13,320 Speaker 1: around would put potentially knowledge of their existence in there heads. 80 00:05:13,720 --> 00:05:17,080 Speaker 1: And so when, for example, a lawyer for Trump writes 81 00:05:17,120 --> 00:05:21,040 Speaker 1: a letter to the Justice Department in saying there are 82 00:05:21,080 --> 00:05:23,800 Speaker 1: no more classified documents here and that turns out not 83 00:05:23,920 --> 00:05:27,600 Speaker 1: to be true, if that person was seen on the 84 00:05:27,720 --> 00:05:31,560 Speaker 1: video in and around those documents that had classification markings 85 00:05:31,560 --> 00:05:35,080 Speaker 1: on them, well that's telling evidence of a false statement. 86 00:05:35,520 --> 00:05:38,720 Speaker 1: This could be damaging just a Trump's legal team if 87 00:05:38,760 --> 00:05:41,120 Speaker 1: if no one else right, I mean, if based on 88 00:05:41,200 --> 00:05:43,640 Speaker 1: statements like that, and the letter that was attached to 89 00:05:43,800 --> 00:05:48,520 Speaker 1: this affidavit from Donald Trump's lawyer telling the Justice am 90 00:05:48,680 --> 00:05:51,839 Speaker 1: to be careful essentially not to play with politics, this 91 00:05:51,920 --> 00:05:56,039 Speaker 1: could be damaging to their careers. Absolutely, And we see 92 00:05:56,080 --> 00:06:00,760 Speaker 1: this over and over in the January sixth investigation. For example, 93 00:06:01,240 --> 00:06:03,960 Speaker 1: who are the people that are under the microscope of 94 00:06:04,000 --> 00:06:07,760 Speaker 1: the Justice Department but to Justice Department attorneys who have 95 00:06:08,040 --> 00:06:12,160 Speaker 1: theoretically promising careers ahead of them. But Jeffrey Clark and 96 00:06:12,520 --> 00:06:14,520 Speaker 1: the other fellow whose name I'm forgetting at the moment 97 00:06:14,640 --> 00:06:17,000 Speaker 1: are both subjects of the inquiry. One of them is 98 00:06:17,000 --> 00:06:20,720 Speaker 1: said to be cooperating, but they're not. Only is their 99 00:06:20,960 --> 00:06:25,320 Speaker 1: life in freedom at stake, but their livelihood is that state. 100 00:06:25,360 --> 00:06:29,120 Speaker 1: And so when that's the case, they become rich targets 101 00:06:29,120 --> 00:06:33,600 Speaker 1: for cooperation. So sixty seven documents marked as confidential. This 102 00:06:33,680 --> 00:06:37,799 Speaker 1: is in the fifteen boxes taken in January. Sixty seven 103 00:06:37,839 --> 00:06:42,200 Speaker 1: documents confidential, marked as secret, twenty five labeled top secret. 104 00:06:42,880 --> 00:06:45,520 Speaker 1: And there are a number of different designations here, including 105 00:06:45,920 --> 00:06:50,680 Speaker 1: some that apparently had intelligence from foreign eavesdropping. We heard 106 00:06:50,720 --> 00:06:54,279 Speaker 1: earlier reports that they were so called nuclear documents. Could 107 00:06:54,279 --> 00:06:58,920 Speaker 1: these also include those? If there were nuclear documents. The 108 00:06:59,000 --> 00:07:02,120 Speaker 1: one thing that's important that under the Atomic Energy Act 109 00:07:02,320 --> 00:07:05,920 Speaker 1: I think fifty four and the president does not have 110 00:07:06,040 --> 00:07:10,120 Speaker 1: unilateral authority to declassify. So any claim that he's making 111 00:07:10,160 --> 00:07:13,600 Speaker 1: that these documents were declassified, there's no evidence that he 112 00:07:13,680 --> 00:07:17,560 Speaker 1: did declassify them. But assuming that evidence has found, if 113 00:07:17,600 --> 00:07:19,960 Speaker 1: it relates to any of these nuclear programs, then he 114 00:07:20,040 --> 00:07:22,600 Speaker 1: lacks the legal authority to declassify them. And so if 115 00:07:22,600 --> 00:07:27,280 Speaker 1: he possessed them, they exist in their classified state, and 116 00:07:27,960 --> 00:07:33,520 Speaker 1: retaining classified documents and an unsecure location violates these statutes. 117 00:07:33,520 --> 00:07:35,960 Speaker 1: So we saw individuals who have been prosecuted for this 118 00:07:36,440 --> 00:07:40,200 Speaker 1: over and over um and getting on the low end 119 00:07:40,280 --> 00:07:45,520 Speaker 1: betray us getting two years probation and a hundred thousand 120 00:07:45,560 --> 00:07:51,000 Speaker 1: dollar fine for improper retention, to Chinese scientists getting nine 121 00:07:51,080 --> 00:07:55,160 Speaker 1: years in prison for the illegal and improper retention. The 122 00:07:55,160 --> 00:07:58,880 Speaker 1: affidavit reads, there is probable cause to believe that documents 123 00:07:58,920 --> 00:08:02,800 Speaker 1: containing Class of five National Defense Information d n I 124 00:08:03,480 --> 00:08:07,040 Speaker 1: and presidential records remain at the premises. This, of course, 125 00:08:07,080 --> 00:08:09,200 Speaker 1: again was making the case for the search. This is 126 00:08:09,240 --> 00:08:12,440 Speaker 1: what they were looking for when we consider national defense 127 00:08:12,480 --> 00:08:16,840 Speaker 1: information that in itself being in an insecure location at 128 00:08:16,840 --> 00:08:23,000 Speaker 1: a resort UH that is hosting foreign dignitaries presents a 129 00:08:23,320 --> 00:08:29,000 Speaker 1: very uh dangerous situation exactly. And that's why I think 130 00:08:29,040 --> 00:08:33,600 Speaker 1: you see the espionage statute being used. That one section 131 00:08:33,640 --> 00:08:37,119 Speaker 1: of the espionage Statute that was referenced in the affidavit 132 00:08:37,160 --> 00:08:43,080 Speaker 1: and the search warrant is that which requires only gross 133 00:08:43,200 --> 00:08:48,560 Speaker 1: negligence in the handling of these NBI documents. They don't 134 00:08:48,559 --> 00:08:51,400 Speaker 1: have to be classified, they can be just national security 135 00:08:51,400 --> 00:08:54,440 Speaker 1: related documents. And if you are grossly negligent in the 136 00:08:54,440 --> 00:08:58,400 Speaker 1: way you handled them, you violate this statute. And it 137 00:08:58,480 --> 00:09:02,800 Speaker 1: appears from what's in the public record already that there 138 00:09:02,840 --> 00:09:06,360 Speaker 1: was some gross negligence in the handling of these records. 139 00:09:06,360 --> 00:09:12,320 Speaker 1: And so again I say, whomever touched these documents has 140 00:09:12,679 --> 00:09:17,840 Speaker 1: potential liability for violating the statutes that are in question here. 141 00:09:18,120 --> 00:09:20,440 Speaker 1: And to your point, that may not be someone named 142 00:09:20,480 --> 00:09:24,240 Speaker 1: Donald Trump. We understand and I'm really trying to see 143 00:09:24,240 --> 00:09:27,959 Speaker 1: this from both sides here, uh that that a lot 144 00:09:28,040 --> 00:09:32,600 Speaker 1: of these documents were just kind of randomly thrown in 145 00:09:32,720 --> 00:09:37,000 Speaker 1: boxes with unrelated items. Is there a chance Donald Trump 146 00:09:37,040 --> 00:09:39,479 Speaker 1: had no idea that any of this was at Marlago. 147 00:09:41,080 --> 00:09:43,719 Speaker 1: That would be a defense that if I were his attorney, 148 00:09:43,800 --> 00:09:46,320 Speaker 1: I would want to raise, which was which is to say, 149 00:09:46,400 --> 00:09:49,680 Speaker 1: look for better or for worse. My client believed that 150 00:09:49,720 --> 00:09:53,280 Speaker 1: he was going to remain president for a second term, 151 00:09:53,360 --> 00:09:56,480 Speaker 1: and he held that belief until the last minute. When 152 00:09:56,600 --> 00:10:01,160 Speaker 1: that belief was not realized, they quickly packed up the 153 00:10:01,200 --> 00:10:04,160 Speaker 1: boxes and fled, you know, sort of like the movie 154 00:10:04,520 --> 00:10:08,080 Speaker 1: Home Alone, where the alarms go off late and they 155 00:10:08,080 --> 00:10:12,360 Speaker 1: pack up hurriedly and left the kid behind. And so 156 00:10:12,559 --> 00:10:15,480 Speaker 1: maybe that's the sense that I raised that this was 157 00:10:15,520 --> 00:10:20,880 Speaker 1: not intentional. It was perhaps negligent, but not intention Failure 158 00:10:21,000 --> 00:10:25,319 Speaker 1: to respond over months in returning this becomes its own problem. 159 00:10:25,360 --> 00:10:28,920 Speaker 1: This is why we have an active criminal investigation right exactly. 160 00:10:28,960 --> 00:10:32,360 Speaker 1: And if you look at the timeline here, what you 161 00:10:32,480 --> 00:10:37,240 Speaker 1: see in the FFI davit is they start talking with 162 00:10:37,360 --> 00:10:40,839 Speaker 1: him soon after he moves the documents on January the 163 00:10:40,880 --> 00:10:48,520 Speaker 1: twentieth fifteen. Boxes are retrieved on the eighteenth of January. 164 00:10:49,120 --> 00:10:54,040 Speaker 1: They request records in May, and they go down and 165 00:10:54,120 --> 00:10:58,560 Speaker 1: visit in June. This this basically lasted the year exactly. 166 00:10:58,559 --> 00:11:00,640 Speaker 1: It's a it's a long time, and it's a very 167 00:11:00,720 --> 00:11:06,120 Speaker 1: solicitous um. Justice Department and National Archives in their dealings 168 00:11:06,200 --> 00:11:09,280 Speaker 1: with Trump sort of called this a arraid. Is is 169 00:11:09,320 --> 00:11:13,800 Speaker 1: really not accurate. They had a discussion that ultimately in 170 00:11:13,840 --> 00:11:17,640 Speaker 1: the end, d o J says, look, you have these documents, 171 00:11:17,720 --> 00:11:21,080 Speaker 1: they're not in a secure location, they contain the highest 172 00:11:21,160 --> 00:11:23,600 Speaker 1: level of classification, and we just got to come again. 173 00:11:23,800 --> 00:11:27,720 Speaker 1: We're sorry enough talk for us to protect the national security, 174 00:11:27,720 --> 00:11:29,720 Speaker 1: and we're gonna go get them. So Michael's Eldon, was 175 00:11:29,760 --> 00:11:34,040 Speaker 1: it worth releasing this despite all the redactions? I think so. 176 00:11:34,160 --> 00:11:37,040 Speaker 1: I think that it's worth it from the standpoint of 177 00:11:37,160 --> 00:11:40,679 Speaker 1: understanding that this was not just sort of a spur 178 00:11:40,760 --> 00:11:43,079 Speaker 1: of the moment. Let's go down there in search a 179 00:11:43,160 --> 00:11:46,080 Speaker 1: former president's house and see how that turns out. But rather, 180 00:11:46,120 --> 00:11:48,760 Speaker 1: this was the end the game of a year plus 181 00:11:48,840 --> 00:11:53,280 Speaker 1: long negotiation for documents that were highly classified, in which 182 00:11:53,640 --> 00:11:58,000 Speaker 1: threatened in theory national security. Appreciate the insights as always 183 00:11:58,000 --> 00:11:59,840 Speaker 1: now that we've had a couple of hours to digest it. 184 00:12:00,320 --> 00:12:04,000 Speaker 1: Great insights from Michael Zelden, former federal prosecutor, former special 185 00:12:04,040 --> 00:12:07,480 Speaker 1: counsel to Robert Mueller while at the Department of Justice. 186 00:12:07,520 --> 00:12:09,600 Speaker 1: We turned this to the panel next and the political 187 00:12:09,679 --> 00:12:11,840 Speaker 1: side of all of this. Was it worth that or 188 00:12:11,840 --> 00:12:15,559 Speaker 1: did it just confuse the matter even more? Rick Davis 189 00:12:15,679 --> 00:12:18,400 Speaker 1: is coming up with US joint today by Max Burns 190 00:12:18,440 --> 00:12:24,600 Speaker 1: of third degree on Joe Matthew. This is Bloomberg. You're 191 00:12:24,640 --> 00:12:29,880 Speaker 1: listening to Bloomberg Sound On with Joe Matthew on Bloomberg Radio. 192 00:12:31,760 --> 00:12:34,800 Speaker 1: The headline on the terminal Trump stash at Mara a 193 00:12:34,880 --> 00:12:41,839 Speaker 1: Lago included highly classified documents. Indeed, the image inside this 194 00:12:42,000 --> 00:12:49,280 Speaker 1: story says a lot with pages upon pages of black boxes. Yes, 195 00:12:49,360 --> 00:12:53,120 Speaker 1: heavily were adapted. What did I have before? The thirty 196 00:12:53,160 --> 00:12:56,000 Speaker 1: two pages with these items had at least some redactions? 197 00:12:56,040 --> 00:12:57,640 Speaker 1: And and a lot of them were just the full page, 198 00:12:57,760 --> 00:13:00,760 Speaker 1: just just big black page. Uh. I'm Joe, Matthew and 199 00:13:00,800 --> 00:13:04,680 Speaker 1: Washington on what has been quite a day with the affidavits. 200 00:13:04,840 --> 00:13:10,640 Speaker 1: The redacted affidavit unsealed in somewhat awkward fashion, didn't come 201 00:13:10,679 --> 00:13:14,800 Speaker 1: out early. Right at noon, these sealed documents hit the 202 00:13:14,840 --> 00:13:17,160 Speaker 1: Trump docket and a lot of reporters had to call 203 00:13:17,200 --> 00:13:19,000 Speaker 1: to get him to actually unseal the thing. It was 204 00:13:19,120 --> 00:13:21,800 Speaker 1: after long afternoon by the time we actually saw them. 205 00:13:21,840 --> 00:13:24,880 Speaker 1: Let's assemble the panel. Rick Davis is here, of course, 206 00:13:24,920 --> 00:13:29,679 Speaker 1: Republican strategist Bloomberg Politics contributor, joined today by Democratic strategist 207 00:13:29,880 --> 00:13:33,320 Speaker 1: Max Burne's founder of Third Degree Strategies. Max is great 208 00:13:33,320 --> 00:13:35,360 Speaker 1: to have you back, Rick. We've been talking about this 209 00:13:35,800 --> 00:13:39,720 Speaker 1: for days, looking forward to it. What was the item 210 00:13:39,760 --> 00:13:42,280 Speaker 1: in this paperwork that raised a rib brow? What made 211 00:13:42,320 --> 00:13:45,520 Speaker 1: this a bigger story? You know, I I agree with 212 00:13:45,559 --> 00:13:48,640 Speaker 1: what Michael's Eldon just told you earlier in the program, 213 00:13:48,640 --> 00:13:52,800 Speaker 1: and that was, uh, the realization that this concealment and 214 00:13:52,880 --> 00:13:56,920 Speaker 1: removal of these highly secret documents, you know, all kinds 215 00:13:56,960 --> 00:14:01,960 Speaker 1: of different things that risk the nation security um may 216 00:14:02,000 --> 00:14:05,320 Speaker 1: have been perpetrated by just more than Donald Trump. Right, 217 00:14:05,320 --> 00:14:08,439 Speaker 1: We've all been laser focused on Donald Trump. But now 218 00:14:08,480 --> 00:14:10,680 Speaker 1: we realize there are a lot of hands in those boxes, 219 00:14:10,960 --> 00:14:14,400 Speaker 1: and and the idea that, um, you know, they had 220 00:14:14,400 --> 00:14:17,560 Speaker 1: people coming and going, and that it wasn't the requests 221 00:14:17,640 --> 00:14:20,280 Speaker 1: that they had, uh to put a lock on the 222 00:14:20,400 --> 00:14:24,960 Speaker 1: door of the storage shelter, was to actually secure the documents, 223 00:14:24,960 --> 00:14:28,400 Speaker 1: which is a big difference. And so, uh, it all 224 00:14:28,480 --> 00:14:32,360 Speaker 1: leads to this sort of interesting obstruction issue, right, like 225 00:14:32,720 --> 00:14:35,640 Speaker 1: why did it take over a year to have this resolved? 226 00:14:35,760 --> 00:14:38,800 Speaker 1: And so to me, that was the fascinating twist of this. 227 00:14:39,360 --> 00:14:41,520 Speaker 1: And so what I'm looking at is the next step 228 00:14:41,960 --> 00:14:44,400 Speaker 1: is how many of the staff and lawyers are going 229 00:14:44,480 --> 00:14:48,360 Speaker 1: to be hiring lawyers to represent themselves. That's for sure. 230 00:14:48,440 --> 00:14:51,200 Speaker 1: We could be talking about a lot of people here, uh, Max. 231 00:14:51,440 --> 00:14:53,840 Speaker 1: And and it may not even include Donald Trump. I 232 00:14:53,920 --> 00:14:57,280 Speaker 1: mean it's hard to imagine. Obviously he was the president 233 00:14:57,320 --> 00:15:00,040 Speaker 1: and this is his home, but but a lot of 234 00:15:00,080 --> 00:15:02,960 Speaker 1: people could have been enriched by the information in those boxes. 235 00:15:03,040 --> 00:15:05,520 Speaker 1: Give us a sense of that, Yeah, I think that's 236 00:15:05,560 --> 00:15:08,600 Speaker 1: absolutely right. And what we've seen from this affidavit, what 237 00:15:08,640 --> 00:15:12,120 Speaker 1: we have been able to see is a lot of boilerplate. 238 00:15:12,240 --> 00:15:15,360 Speaker 1: But it does show you that there was probable cause 239 00:15:16,160 --> 00:15:19,440 Speaker 1: to believe that Donald Trump was not just collecting these 240 00:15:19,440 --> 00:15:23,720 Speaker 1: documents and failing to return them, but actively obstructing justice 241 00:15:23,960 --> 00:15:27,200 Speaker 1: in the process. And I think regardless of how much 242 00:15:27,240 --> 00:15:29,440 Speaker 1: of this is redacted, it was good to get it out. 243 00:15:29,720 --> 00:15:33,520 Speaker 1: There should be that expectation of transparency. And I don't 244 00:15:33,760 --> 00:15:36,760 Speaker 1: imagine Donald Trump thinking there was anything in here that 245 00:15:36,880 --> 00:15:39,800 Speaker 1: was going to go well for him. If anything, it 246 00:15:39,960 --> 00:15:44,120 Speaker 1: just raises the temperature of how far advanced this investigation 247 00:15:44,320 --> 00:15:48,160 Speaker 1: is and how extreme we had to to act as 248 00:15:48,160 --> 00:15:52,120 Speaker 1: a government to get these documents back. Well, look, this 249 00:15:52,320 --> 00:15:54,880 Speaker 1: could be precedent setting rick. Was it worth it from 250 00:15:54,960 --> 00:15:59,120 Speaker 1: from that standpoint here to to search a former president's home? 251 00:15:59,200 --> 00:16:04,400 Speaker 1: Does this? Does this redacted document have the value to 252 00:16:04,480 --> 00:16:08,280 Speaker 1: make all of this happen? Really make releasing this worthwhile? Well? 253 00:16:08,320 --> 00:16:12,080 Speaker 1: I think as far as understanding what they were looking 254 00:16:12,120 --> 00:16:15,400 Speaker 1: for and what they probably got, sure, right, I mean, 255 00:16:15,400 --> 00:16:18,000 Speaker 1: we can't let these kinds of things lay around there. 256 00:16:18,120 --> 00:16:22,000 Speaker 1: The regime, the laws that govern our handling of you know, 257 00:16:22,080 --> 00:16:24,520 Speaker 1: secret matters like this, these kind of you and I 258 00:16:24,520 --> 00:16:28,040 Speaker 1: don't necessarily sophisticated, Um, we don't need to know about it. 259 00:16:28,080 --> 00:16:31,280 Speaker 1: But the reality is that a search of a former 260 00:16:31,360 --> 00:16:35,840 Speaker 1: president's home is unprecedented, and in this case, especially considering 261 00:16:35,880 --> 00:16:38,960 Speaker 1: that the Justice Department already had an active investigation into 262 00:16:39,000 --> 00:16:42,240 Speaker 1: his conduct around January six. Now you know, we learned 263 00:16:42,240 --> 00:16:44,880 Speaker 1: that there's an active investigation around these documents and his 264 00:16:44,960 --> 00:16:47,760 Speaker 1: handling of them. I think it the more we talk 265 00:16:47,840 --> 00:16:50,880 Speaker 1: about it, the more we have a public conversation about it, 266 00:16:50,960 --> 00:16:53,160 Speaker 1: the better off we are. And the fact that there 267 00:16:53,160 --> 00:16:57,200 Speaker 1: were so many lawmakers, including the former president himself, asking 268 00:16:57,240 --> 00:17:00,800 Speaker 1: for more information from these affidavits, yeah, I hope they're happy, 269 00:17:00,880 --> 00:17:03,520 Speaker 1: because from what I can tell, only thing that is 270 00:17:03,560 --> 00:17:06,600 Speaker 1: done is given us a little bit more information about 271 00:17:06,640 --> 00:17:10,440 Speaker 1: the sensitive nature of these documents. And I can't believe 272 00:17:10,560 --> 00:17:13,480 Speaker 1: any right minded person is going to not be scratching 273 00:17:13,480 --> 00:17:15,520 Speaker 1: your head going why in the world would he have 274 00:17:15,640 --> 00:17:18,640 Speaker 1: these things? Well that yet, that fair enough, Max, though, 275 00:17:18,680 --> 00:17:23,639 Speaker 1: the the redactions have already given Donald Trump, you know, 276 00:17:23,920 --> 00:17:26,840 Speaker 1: an area to exploit here as we see him posting 277 00:17:26,840 --> 00:17:30,720 Speaker 1: on social media, nothing mentioned not nuclear, so those reports 278 00:17:30,720 --> 00:17:33,200 Speaker 1: were obviously not true. He called it a total public 279 00:17:33,240 --> 00:17:36,520 Speaker 1: relations subterfuge by the FBI and the d o J, 280 00:17:36,680 --> 00:17:40,080 Speaker 1: fulfilling uh, you know that whole narrative, he says, we 281 00:17:40,160 --> 00:17:44,920 Speaker 1: gave them much. Can he use the redactions max to 282 00:17:45,080 --> 00:17:48,040 Speaker 1: create more confusion around this, if not kind of exploit 283 00:17:48,119 --> 00:17:50,720 Speaker 1: that to to raise more money and make himself look 284 00:17:50,760 --> 00:17:53,840 Speaker 1: more like a victim. Yeah. Absolutely, But I think the 285 00:17:53,960 --> 00:17:56,760 Speaker 1: challenge for Donald Trump right now is that, however he 286 00:17:56,800 --> 00:18:00,840 Speaker 1: plays this as a public relations uh extra size, there 287 00:18:00,960 --> 00:18:04,600 Speaker 1: is still this very real legal investigation happening, and he's 288 00:18:04,640 --> 00:18:07,040 Speaker 1: not going to be able to spin his way out 289 00:18:07,080 --> 00:18:10,960 Speaker 1: of that because the relevant law enforcement agencies know what's 290 00:18:11,000 --> 00:18:14,040 Speaker 1: behind those rid actions and it was obviously enough to 291 00:18:14,080 --> 00:18:17,720 Speaker 1: cause great alarm in Justice Department. I think to your point, 292 00:18:18,280 --> 00:18:20,320 Speaker 1: there are many people who are going to be involved 293 00:18:20,320 --> 00:18:22,119 Speaker 1: in this. The d o J is looking not just 294 00:18:22,240 --> 00:18:26,040 Speaker 1: into Trump's role, but into individuals who they allege were 295 00:18:26,080 --> 00:18:31,960 Speaker 1: potentially moving documents true to potentially evade them being seized. 296 00:18:32,000 --> 00:18:35,680 Speaker 1: So this is definitely a play with many actors who 297 00:18:35,680 --> 00:18:37,840 Speaker 1: are now at risk. You do wonder you know how 298 00:18:37,840 --> 00:18:42,640 Speaker 1: many weddings have taken place within proximity of these documents? Rick? Yeah, 299 00:18:42,720 --> 00:18:44,640 Speaker 1: I mean, look, this is a beach club. I mean 300 00:18:44,680 --> 00:18:47,320 Speaker 1: people go there to play golf, they have dinner, you know, 301 00:18:47,359 --> 00:18:50,440 Speaker 1: they're wandering around. But like if anybody wants to penetrate 302 00:18:50,520 --> 00:18:53,760 Speaker 1: that that community, it doesn't seem to be very difficult. 303 00:18:54,160 --> 00:18:57,080 Speaker 1: Rick Davis and Max Burns are panel today. They're back 304 00:18:57,240 --> 00:19:00,920 Speaker 1: with more after we talked to Joe wisen Fal. Yeah, 305 00:19:01,160 --> 00:19:04,200 Speaker 1: the stalwart is coming in on this big Jackson Hole. 306 00:19:04,359 --> 00:19:07,600 Speaker 1: J Powell day, did he mean what he said? We'll 307 00:19:07,600 --> 00:19:12,719 Speaker 1: talk to Joe next. This is Bloomberg. J Powell hit 308 00:19:12,800 --> 00:19:15,280 Speaker 1: Jackson Hole today with a point to prove and it 309 00:19:15,359 --> 00:19:18,479 Speaker 1: only took about eight minutes. As you've been hearing the speech, 310 00:19:18,480 --> 00:19:21,720 Speaker 1: of course live today on Bloomberg, Powell warning investors that 311 00:19:22,400 --> 00:19:24,840 Speaker 1: higher interest rates are gonna be here for some time 312 00:19:24,880 --> 00:19:27,280 Speaker 1: and it may not be fun here. He is While 313 00:19:27,400 --> 00:19:31,280 Speaker 1: higher interest rates, slower growth, and software labor market conditions 314 00:19:31,320 --> 00:19:34,680 Speaker 1: will bring down inflation, they will also bring some pain 315 00:19:34,760 --> 00:19:39,120 Speaker 1: to households and businesses feeling the pain. Now with Joe Wisenthal, 316 00:19:39,240 --> 00:19:42,720 Speaker 1: the co host of Bloomberg's Odd Lots podcast, is with us. 317 00:19:42,720 --> 00:19:45,240 Speaker 1: Say Joe, welcome back. Thank you for having always a 318 00:19:45,280 --> 00:19:47,359 Speaker 1: pleasure here as we try to get to the heart 319 00:19:47,400 --> 00:19:50,800 Speaker 1: of the matter and what the chair was was really 320 00:19:50,840 --> 00:19:54,160 Speaker 1: trying to say it. It reminds me of the old 321 00:19:54,240 --> 00:19:56,880 Speaker 1: Tony soprano line that you know, you want to get 322 00:19:56,880 --> 00:19:59,480 Speaker 1: people's attention, you want to be the boss. The first 323 00:19:59,480 --> 00:20:01,159 Speaker 1: thing you do is you walk into a room, you 324 00:20:01,200 --> 00:20:03,080 Speaker 1: pick the biggest guy, and you punch him in the face. 325 00:20:03,800 --> 00:20:06,119 Speaker 1: Did j Pal do that today? You know? What I 326 00:20:06,160 --> 00:20:09,320 Speaker 1: think was striking on that in that respect was how 327 00:20:09,440 --> 00:20:12,040 Speaker 1: short his speech was. Right, he walked in and he 328 00:20:12,080 --> 00:20:14,320 Speaker 1: walked out. He wanted a mic drop. He wanted a 329 00:20:14,400 --> 00:20:16,960 Speaker 1: mic drop. And you know, when I read the speech 330 00:20:17,040 --> 00:20:19,400 Speaker 1: for the first the first time, it's like, Okay, there 331 00:20:19,480 --> 00:20:21,920 Speaker 1: isn't like that much new in here. You know, we 332 00:20:22,000 --> 00:20:26,119 Speaker 1: know that they take inflation very seriously. We know why 333 00:20:26,280 --> 00:20:29,640 Speaker 1: they take inflation seriously and why it's important for them. 334 00:20:29,880 --> 00:20:32,760 Speaker 1: But it's interesting it was like not much else that 335 00:20:32,920 --> 00:20:35,400 Speaker 1: he didn't talk about, you know, what they had accomplished 336 00:20:35,440 --> 00:20:38,040 Speaker 1: over the last two and a half years, or uh, 337 00:20:38,119 --> 00:20:40,600 Speaker 1: you know, the low unemployment rate very much. He's like, 338 00:20:40,840 --> 00:20:43,280 Speaker 1: we're here to take care of inflation and we're gonna 339 00:20:43,280 --> 00:20:45,040 Speaker 1: do it, and that's all I want to say today. 340 00:20:45,119 --> 00:20:47,359 Speaker 1: And so I think that, you know, at first, when 341 00:20:47,400 --> 00:20:48,880 Speaker 1: I read this speech, I was like, you know, like 342 00:20:49,200 --> 00:20:50,879 Speaker 1: there's not like a ton new here, and I think 343 00:20:50,920 --> 00:20:52,600 Speaker 1: if you just look at the words, there's not but 344 00:20:52,680 --> 00:20:54,399 Speaker 1: it's almost you know, it's a cliche, but it's like 345 00:20:54,600 --> 00:20:56,800 Speaker 1: what he didn't say. He just didn't feel like talking 346 00:20:56,800 --> 00:20:58,960 Speaker 1: about anything else. He's there to do the job of 347 00:20:59,080 --> 00:21:01,879 Speaker 1: quashica inflation via the rate, via the tools that they have, 348 00:21:01,920 --> 00:21:04,560 Speaker 1: and that's higher rates. So it's his job quashing inflation 349 00:21:04,600 --> 00:21:07,000 Speaker 1: but also quashing sentiment on Wall Street. I mean, this 350 00:21:07,080 --> 00:21:09,040 Speaker 1: was sort of the signal to investors lately, you know, 351 00:21:09,119 --> 00:21:12,159 Speaker 1: J Pali shows up and says, no, I'm serious. That's 352 00:21:12,359 --> 00:21:15,880 Speaker 1: part of the issue, which is that you know, the FED, 353 00:21:16,040 --> 00:21:19,200 Speaker 1: as it's said before, works through financial conditions. So it's 354 00:21:19,240 --> 00:21:21,560 Speaker 1: not just like the rate goes higher and then you 355 00:21:21,600 --> 00:21:23,919 Speaker 1: know everyone's borrowing costs go up, and then you know 356 00:21:23,960 --> 00:21:26,639 Speaker 1: it's like, no, it's like hitting hitting the stock market, 357 00:21:26,840 --> 00:21:30,199 Speaker 1: hitting the bond market is how the FED works. And 358 00:21:30,240 --> 00:21:33,080 Speaker 1: if the stock market is too buoyant, if the bond 359 00:21:33,119 --> 00:21:37,120 Speaker 1: market is too buoyant, then arguably financial conditions don't tighten 360 00:21:37,160 --> 00:21:40,119 Speaker 1: and they don't really get the anti inflation punch that 361 00:21:40,160 --> 00:21:42,800 Speaker 1: they're looking for. So to some extent, I think you're right. 362 00:21:42,840 --> 00:21:45,080 Speaker 1: I think it's a message to the markets. It's like 363 00:21:45,280 --> 00:21:47,680 Speaker 1: he wanted them. He kind of wants them to go down, 364 00:21:47,720 --> 00:21:49,800 Speaker 1: and he's wanted that for a while. Imagine all the 365 00:21:49,800 --> 00:21:51,480 Speaker 1: folks who traveled out there are many of them, of 366 00:21:51,480 --> 00:21:53,520 Speaker 1: course with Bloomberg, you know, eight minutes into this thing, 367 00:21:53,560 --> 00:21:56,040 Speaker 1: but that's what all the wind up was for. You know, 368 00:21:56,119 --> 00:22:00,159 Speaker 1: there's other central bankers there, some people presenting speeches. Is 369 00:22:00,160 --> 00:22:02,760 Speaker 1: in some research. There was a lot of anticipation for 370 00:22:02,760 --> 00:22:05,399 Speaker 1: this speech. Though. My god, So you know, I follow 371 00:22:05,440 --> 00:22:07,800 Speaker 1: you on Twitter and I'm always compelled when when you 372 00:22:07,840 --> 00:22:10,199 Speaker 1: take the contrarian view on these things, and I'm just 373 00:22:10,200 --> 00:22:12,520 Speaker 1: curious how you're feeling about the FED at this point. 374 00:22:12,880 --> 00:22:15,280 Speaker 1: When the idea here is if we believe the FED, 375 00:22:15,320 --> 00:22:18,640 Speaker 1: if we believe the administration that you know, it's the pandemic, 376 00:22:18,880 --> 00:22:22,920 Speaker 1: it's supply chains, it's other global factors. And by the way, 377 00:22:23,119 --> 00:22:25,840 Speaker 1: we can't control energy prices or food, so why are 378 00:22:25,880 --> 00:22:28,359 Speaker 1: we exactly hiking interest rates to prove that we can 379 00:22:28,400 --> 00:22:31,439 Speaker 1: go into a recession? Kind of And there was a 380 00:22:31,480 --> 00:22:33,919 Speaker 1: really interesting line that Paul said, He's like, looked, there 381 00:22:33,920 --> 00:22:37,840 Speaker 1: are multiple causes of this inflation. There's high demand and 382 00:22:37,840 --> 00:22:40,800 Speaker 1: there's also curtailed supply. Right, there's it's both, it's a 383 00:22:41,000 --> 00:22:43,040 Speaker 1: it's a mix of things. That also you could throw 384 00:22:43,160 --> 00:22:46,080 Speaker 1: energy into the mix. But then you said, we still 385 00:22:46,119 --> 00:22:48,080 Speaker 1: have a job to do and we have one tool, 386 00:22:48,119 --> 00:22:50,560 Speaker 1: and that's the curtailed demand. So the point is that 387 00:22:51,000 --> 00:22:54,480 Speaker 1: you could say that there's a multiple multiplicity of factors 388 00:22:54,560 --> 00:22:58,159 Speaker 1: driving inflation, but as Paul made it clear, that doesn't 389 00:22:58,200 --> 00:23:01,359 Speaker 1: absolve the FED of its job to push inflation. And 390 00:23:01,520 --> 00:23:04,720 Speaker 1: even though demand is only part of the story, that's 391 00:23:04,760 --> 00:23:07,080 Speaker 1: the level that they control and so that's what they're 392 00:23:07,080 --> 00:23:10,080 Speaker 1: going to try to depress. So this is sledgehammer, not scalpel. 393 00:23:10,760 --> 00:23:12,880 Speaker 1: The FED doesn't. Yeah, I mean, I think the FED 394 00:23:12,960 --> 00:23:14,760 Speaker 1: would love to have a scalpel. The FED would love 395 00:23:14,800 --> 00:23:17,399 Speaker 1: to have nonmonetary tools. And I think, you know, I 396 00:23:17,400 --> 00:23:19,320 Speaker 1: don't know, you know, the FED would love to not 397 00:23:19,840 --> 00:23:22,880 Speaker 1: crash the job market, but the FED has the tool 398 00:23:22,880 --> 00:23:25,520 Speaker 1: it has. You don't think j Pal is just talking tough, 399 00:23:25,560 --> 00:23:27,840 Speaker 1: then you think that he's planning to use that sledgehammer. 400 00:23:28,320 --> 00:23:31,080 Speaker 1: I mean, look, keep you I think talking tough is 401 00:23:31,400 --> 00:23:34,280 Speaker 1: part of the tool, and it would be the goal 402 00:23:34,560 --> 00:23:37,440 Speaker 1: is to not have to, uh you sort of hope 403 00:23:37,480 --> 00:23:39,840 Speaker 1: to cool things. And maybe he looks at the stock 404 00:23:39,880 --> 00:23:42,560 Speaker 1: market today, it's like, yeah, that that helps. But I 405 00:23:42,600 --> 00:23:45,399 Speaker 1: think the talking tough is part of monetary policy, and 406 00:23:45,400 --> 00:23:47,719 Speaker 1: it has been for a long time, ever since, you know, 407 00:23:48,000 --> 00:23:51,479 Speaker 1: for over a decade, talk has been action. It's not 408 00:23:51,600 --> 00:23:55,119 Speaker 1: that they're distinct, separate things. What they say gets priced 409 00:23:55,160 --> 00:23:56,960 Speaker 1: in right away. If you look at short term rates, 410 00:23:57,160 --> 00:24:01,439 Speaker 1: they're higher today even though no for policy action was taken. 411 00:24:01,880 --> 00:24:05,120 Speaker 1: So talking tough is sort of acting tough. Maybe that's 412 00:24:05,119 --> 00:24:07,760 Speaker 1: a scalpel, not that I think about it. Yeah, I mean, look, 413 00:24:07,800 --> 00:24:11,840 Speaker 1: you know, the federal wants to have you know, the 414 00:24:11,840 --> 00:24:14,960 Speaker 1: federally is one tool, and so it wants to be savvy. 415 00:24:15,080 --> 00:24:17,840 Speaker 1: But arguably that the you know, it feels like it 416 00:24:17,920 --> 00:24:21,719 Speaker 1: got burned last year with the transitory talk. It feels 417 00:24:21,760 --> 00:24:24,959 Speaker 1: like it's been behind the curve and that you know 418 00:24:25,000 --> 00:24:28,160 Speaker 1: each time, you know, the fetishike several times this year, 419 00:24:28,480 --> 00:24:30,280 Speaker 1: but there's always maybe been a little bit of hope 420 00:24:30,280 --> 00:24:33,399 Speaker 1: that it's like, Okay, it's getting close to pivot, whatever 421 00:24:33,480 --> 00:24:36,199 Speaker 1: that means. And I think at this point, you know, 422 00:24:36,200 --> 00:24:38,840 Speaker 1: they're they're out of scalpels. Talk about pivot. What do 423 00:24:38,880 --> 00:24:40,880 Speaker 1: they say when all the journalists and everyone else leaves 424 00:24:40,960 --> 00:24:43,320 Speaker 1: Jackson Hole is like, boy, okay, so I think they 425 00:24:43,359 --> 00:24:45,800 Speaker 1: bought it, but you know we're ready to start pulling 426 00:24:45,800 --> 00:24:49,200 Speaker 1: back the minute we start seeing this job market weekend. Yeah, 427 00:24:49,280 --> 00:24:50,919 Speaker 1: I mean that is the question. And you know we 428 00:24:51,000 --> 00:24:53,240 Speaker 1: do have a job's report a week from today, and 429 00:24:53,359 --> 00:24:56,920 Speaker 1: so it's easy to talk about pain. It's easy to say, look, 430 00:24:56,920 --> 00:25:00,560 Speaker 1: our focus is inflation, but unemployment that's low level fifty years. 431 00:25:00,600 --> 00:25:02,080 Speaker 1: It hasn't picked up at all. And in fact, this 432 00:25:02,119 --> 00:25:05,040 Speaker 1: week we got initial jobless claim and they actually take 433 00:25:05,080 --> 00:25:07,399 Speaker 1: back down they had been going up. And so the 434 00:25:07,480 --> 00:25:11,240 Speaker 1: labor market remains by the by the standards it uses, 435 00:25:11,359 --> 00:25:14,640 Speaker 1: by the by the measures the FED looks at extremely 436 00:25:15,240 --> 00:25:19,000 Speaker 1: tight and robust. And so it would be it will 437 00:25:19,080 --> 00:25:22,480 Speaker 1: be interesting, it would be interesting and worrisome if we 438 00:25:22,560 --> 00:25:26,040 Speaker 1: really started to see clear evidence of recession, right, clear 439 00:25:26,119 --> 00:25:29,240 Speaker 1: evidence of unemployment picking up and a sustand way, and 440 00:25:29,280 --> 00:25:31,320 Speaker 1: then we actually have that puzzle. It's like, okay, what 441 00:25:31,359 --> 00:25:33,320 Speaker 1: do we do now? Or how is the FED can 442 00:25:33,440 --> 00:25:37,560 Speaker 1: navigate here? Especially if inflation remained solidly above trend. So 443 00:25:37,720 --> 00:25:42,479 Speaker 1: was that whole summer rally thing the head fake? I 444 00:25:42,520 --> 00:25:46,359 Speaker 1: don't know, I mean, if I if I knew, I 445 00:25:46,400 --> 00:25:48,679 Speaker 1: wish I knew, but you know, the FED is not 446 00:25:48,840 --> 00:25:51,000 Speaker 1: done with its job. And I did think it was interesting. 447 00:25:51,040 --> 00:25:53,600 Speaker 1: I noted this two weeks ago. That's like, all it 448 00:25:53,640 --> 00:25:56,920 Speaker 1: took was about a month worth of rallies and suddenly 449 00:25:57,359 --> 00:26:00,480 Speaker 1: the memes docks started coming back. Amc was back in 450 00:26:00,520 --> 00:26:02,840 Speaker 1: the news, bed Bath and Got Beyond was back of 451 00:26:02,880 --> 00:26:06,560 Speaker 1: the news, and Adam Newman got three million dollars launch 452 00:26:06,600 --> 00:26:09,120 Speaker 1: a new real estate startup. So it's like the old, 453 00:26:09,359 --> 00:26:15,040 Speaker 1: the old animal spirit. Yes, come on, guys, like all right, Like, 454 00:26:15,119 --> 00:26:16,560 Speaker 1: I guess we gotta have to do this the hard 455 00:26:16,560 --> 00:26:18,920 Speaker 1: way because you guys didn't get the message the first time. 456 00:26:19,000 --> 00:26:21,040 Speaker 1: So here we go, slamming on the brakes again. I 457 00:26:21,040 --> 00:26:23,600 Speaker 1: always love to spending time with Joe Bill, the stalwarts 458 00:26:23,680 --> 00:26:26,720 Speaker 1: and co host of the Odd Lots podcast. It's great 459 00:26:26,760 --> 00:26:31,119 Speaker 1: to have you back. Joe coming and we'll reassemble the 460 00:26:31,119 --> 00:26:34,080 Speaker 1: panel next. Rick Davis with his take on what we 461 00:26:34,160 --> 00:26:37,640 Speaker 1: heard today. He was here with Max Burns, Democratic Strategists, 462 00:26:38,160 --> 00:26:40,280 Speaker 1: as we look forward as well to the mid term 463 00:26:40,359 --> 00:26:43,040 Speaker 1: elections coming up and the messaging we heard last night 464 00:26:43,119 --> 00:26:48,320 Speaker 1: and today from President Joe Biden that MAGA is semi 465 00:26:48,320 --> 00:26:54,320 Speaker 1: fascist and it's only August. I'm Joe Matthew. This is Bloomberg. 466 00:26:59,240 --> 00:27:05,200 Speaker 1: You're listening to Bloomberg sound On on Bloomberg Radio. We've 467 00:27:05,200 --> 00:27:07,879 Speaker 1: been hearing for months and months that inflation will be 468 00:27:08,000 --> 00:27:11,280 Speaker 1: the number one issue on the campaign trail deciding the 469 00:27:11,359 --> 00:27:15,800 Speaker 1: mid term elections in November, and hearing from j Powell 470 00:27:15,880 --> 00:27:18,200 Speaker 1: today and by the way, looking at the White House 471 00:27:18,200 --> 00:27:20,960 Speaker 1: statement on the inflation data out this morning, it just 472 00:27:21,000 --> 00:27:26,000 Speaker 1: gives you a sense of the huge urgency behind beating 473 00:27:26,960 --> 00:27:30,679 Speaker 1: this thing called inflation. The messaging though coming from the 474 00:27:30,720 --> 00:27:34,280 Speaker 1: President is pushing back pretty hard on the Republican Party, 475 00:27:34,600 --> 00:27:38,000 Speaker 1: not even with that particular issue. Let's reassemble the panel. 476 00:27:38,040 --> 00:27:41,000 Speaker 1: Rick Davis is back with us, Max Burn's democratic strategist, 477 00:27:41,000 --> 00:27:44,560 Speaker 1: founder of Third Degree Strategies Rick, of course, Bloomberg Politics 478 00:27:44,560 --> 00:27:49,040 Speaker 1: contributor and Republican strategist. Max. Did you hear Joe Biden 479 00:27:49,080 --> 00:27:51,200 Speaker 1: at the fundraiser last night? He went up the road 480 00:27:51,200 --> 00:27:53,840 Speaker 1: to Rockville, actually did a fundraiser on the way in Bethesda, 481 00:27:53,880 --> 00:27:56,680 Speaker 1: went up to Rockville to raise some money and gave 482 00:27:56,800 --> 00:28:00,000 Speaker 1: us a real view of what we were in for here. 483 00:28:00,119 --> 00:28:06,880 Speaker 1: Or uh, listened to Joe Biden at the rally in Rockville, Maga. 484 00:28:07,000 --> 00:28:09,679 Speaker 1: Republics don't have a clue about the power of women. 485 00:28:11,280 --> 00:28:15,520 Speaker 1: Let me tell you something. They are about to find out. 486 00:28:16,840 --> 00:28:21,000 Speaker 1: M referring, of course, to the Roe v. Wade decision 487 00:28:21,359 --> 00:28:24,080 Speaker 1: the Supreme Court. This came only an hour or two though, 488 00:28:24,119 --> 00:28:26,680 Speaker 1: after he walked into a tent at a fundraiser in Bethesda, 489 00:28:26,760 --> 00:28:29,879 Speaker 1: Max and he referred to to ultra maga as he 490 00:28:29,960 --> 00:28:34,840 Speaker 1: likes to call it, as something that is approaching semi fascism. 491 00:28:34,840 --> 00:28:36,960 Speaker 1: It is only August here, What are we gonna be 492 00:28:37,000 --> 00:28:40,760 Speaker 1: talking about in October? Well, I think this shows you 493 00:28:40,800 --> 00:28:43,800 Speaker 1: that there has been a big boost to not just 494 00:28:43,880 --> 00:28:47,360 Speaker 1: the White House morale, but to Democrat morale in general. Uh, 495 00:28:47,560 --> 00:28:51,800 Speaker 1: since this summer of bipartisan victories, the polling coming out 496 00:28:51,880 --> 00:28:56,480 Speaker 1: showing that post dobbs On post in this post row America, 497 00:28:57,000 --> 00:28:59,760 Speaker 1: that voters are very energized by that and actually are 498 00:29:00,000 --> 00:29:02,680 Speaker 1: going up to vote. So there is a swagger I 499 00:29:02,720 --> 00:29:05,440 Speaker 1: think in Joe Biden's step that has not been there. 500 00:29:05,960 --> 00:29:08,200 Speaker 1: The White House is also getting a little bit uh 501 00:29:08,240 --> 00:29:12,120 Speaker 1: sassy or on Twitter and calling out Marjorie Taylor's green 502 00:29:12,720 --> 00:29:16,000 Speaker 1: is very trumpy. Actually to see that calling out Marjorie 503 00:29:16,000 --> 00:29:18,680 Speaker 1: Taylor Green for loans she had forgiven after criticizing the 504 00:29:18,720 --> 00:29:21,840 Speaker 1: student loan But but, but, Max, maybe I should rephrase 505 00:29:21,880 --> 00:29:24,280 Speaker 1: the question, why not take credit for all that stuff? 506 00:29:24,560 --> 00:29:29,360 Speaker 1: Instead of calling, uh, your opponent a fascist? Well, I 507 00:29:29,400 --> 00:29:31,360 Speaker 1: think that he is. And I think that we've seen 508 00:29:31,760 --> 00:29:34,320 Speaker 1: in elections here in New York just recently with Pat Ryan, 509 00:29:34,840 --> 00:29:37,880 Speaker 1: that they were very Democrats are now very strongly owning 510 00:29:38,160 --> 00:29:41,760 Speaker 1: not just the abortion issue but their effectiveness in Congress, 511 00:29:41,800 --> 00:29:44,600 Speaker 1: and that voters are starting to respond to that. I 512 00:29:44,600 --> 00:29:48,360 Speaker 1: think because it's not done as as self consciously as Trump. 513 00:29:48,400 --> 00:29:52,480 Speaker 1: We're not sending out checks with Joe Biden's signature on them. Uh, 514 00:29:52,520 --> 00:29:56,000 Speaker 1: that people are arguing he's not promoting this, But the 515 00:29:56,080 --> 00:29:59,760 Speaker 1: White House has planned a very robust sort of barnstorming 516 00:30:00,040 --> 00:30:03,000 Speaker 1: him paying summer to sell not just that but the 517 00:30:03,000 --> 00:30:05,640 Speaker 1: student debt relief and all these other victories to voters. 518 00:30:05,920 --> 00:30:07,800 Speaker 1: And that's where Biden is best. So that's I think 519 00:30:07,800 --> 00:30:11,719 Speaker 1: where he wants to be. Remember the deplorables, Rick, Uh, 520 00:30:11,960 --> 00:30:15,400 Speaker 1: is that the fascists this time? You know? I think 521 00:30:15,440 --> 00:30:18,880 Speaker 1: that uh, he he used against him. As my point, yeah, 522 00:30:18,880 --> 00:30:21,280 Speaker 1: he does stand the risk of, you know, being too 523 00:30:21,320 --> 00:30:24,400 Speaker 1: far out there. I honestly don't see the need for 524 00:30:24,480 --> 00:30:27,000 Speaker 1: it right now when he's got his own agenda to 525 00:30:27,000 --> 00:30:29,080 Speaker 1: talk about. I mean, obviously you want to contrast with 526 00:30:29,240 --> 00:30:32,240 Speaker 1: your opponent out there, but the reality is he's he's 527 00:30:32,280 --> 00:30:35,200 Speaker 1: got a pretty positive summer and he wants to talk 528 00:30:35,200 --> 00:30:38,200 Speaker 1: about that. Um. But the reality too is he's got 529 00:30:38,240 --> 00:30:40,080 Speaker 1: work to be done on the economy, and we're just 530 00:30:40,080 --> 00:30:41,840 Speaker 1: talking about what the FEDS doing to try and help 531 00:30:41,880 --> 00:30:45,880 Speaker 1: with inflation. But you know, while his overall job approval 532 00:30:46,000 --> 00:30:49,000 Speaker 1: numbers have gone up, he's still in the basement on 533 00:30:49,040 --> 00:30:52,320 Speaker 1: the economy and inflation. I mean, you know, fifteen points 534 00:30:52,320 --> 00:30:55,120 Speaker 1: in his own party lower than his job approval and 535 00:30:55,320 --> 00:30:58,600 Speaker 1: in his own party amongst Democrats. So, um, I'm not 536 00:30:58,640 --> 00:31:03,040 Speaker 1: sure it's time to pivot engage um with with Trump. 537 00:31:03,040 --> 00:31:05,520 Speaker 1: And and by the way, I'm not sure even engaging 538 00:31:05,520 --> 00:31:08,320 Speaker 1: on the MAGA issue, right that's really talking about Donald 539 00:31:08,360 --> 00:31:10,880 Speaker 1: Trump is just coach right of course. And and so 540 00:31:10,920 --> 00:31:14,400 Speaker 1: if if he's already tied up with Justice Department investigations 541 00:31:14,480 --> 00:31:17,000 Speaker 1: January six Commission, I mean, like there are a lot 542 00:31:17,040 --> 00:31:21,000 Speaker 1: of things driving negative messages about Donald Trump. Why don't 543 00:31:21,040 --> 00:31:23,640 Speaker 1: you focus on Republicans? Because the reality is Trump's not 544 00:31:23,760 --> 00:31:27,840 Speaker 1: on anybody's ballot this time around, and these senators and 545 00:31:27,880 --> 00:31:31,200 Speaker 1: these House members are and I just think he's, you know, 546 00:31:31,200 --> 00:31:33,440 Speaker 1: shooting above everybody's head right now if this is the 547 00:31:33,480 --> 00:31:36,320 Speaker 1: way he's going to approach contrast, Max, do you believe 548 00:31:36,360 --> 00:31:39,360 Speaker 1: the approval numbers that you see upper thirties, low forties, 549 00:31:39,400 --> 00:31:41,600 Speaker 1: depending on the week, and does this need to be 550 00:31:41,640 --> 00:31:46,080 Speaker 1: a positive campaign for Democrats? I do believe the polls, 551 00:31:46,080 --> 00:31:48,040 Speaker 1: but I think that this is just evidence that polls 552 00:31:48,040 --> 00:31:50,400 Speaker 1: are very fickle and that news, you know, can very 553 00:31:50,480 --> 00:31:55,440 Speaker 1: quickly change the conversation pretty consistent though, yeah it had, 554 00:31:55,440 --> 00:31:57,800 Speaker 1: but these these most recent polls that are showing him 555 00:31:57,800 --> 00:32:01,760 Speaker 1: forty five are reassuring, but not something to bank your 556 00:32:01,800 --> 00:32:04,880 Speaker 1: mid term strategy on. So I will disagree with Rick 557 00:32:04,920 --> 00:32:06,840 Speaker 1: on one point is I think it is impossible to 558 00:32:06,880 --> 00:32:10,240 Speaker 1: talk about the GOP now without talking about Donald Trump. 559 00:32:10,880 --> 00:32:14,160 Speaker 1: He is undeniably the party leader and in control of 560 00:32:14,200 --> 00:32:17,800 Speaker 1: that machine, and so talking about what's going on and 561 00:32:17,840 --> 00:32:20,800 Speaker 1: the damage Republicans are are at risk of causing if 562 00:32:20,840 --> 00:32:24,040 Speaker 1: they win Congress back is not a conversation you have 563 00:32:24,200 --> 00:32:28,640 Speaker 1: without talking about Donald Trump. Spending time with Max Burns 564 00:32:28,680 --> 00:32:31,400 Speaker 1: and Rick Davis our panel today. If there's something positive 565 00:32:31,440 --> 00:32:34,040 Speaker 1: happening in the government, and you listen to this program 566 00:32:34,080 --> 00:32:35,840 Speaker 1: at least from time to time, you know, I frequently 567 00:32:35,920 --> 00:32:38,440 Speaker 1: point to the space program. It's just one of the 568 00:32:38,480 --> 00:32:40,520 Speaker 1: things that we tend to do pretty well. And now 569 00:32:40,520 --> 00:32:43,560 Speaker 1: that we're actually getting it back together and getting a 570 00:32:43,760 --> 00:32:47,520 Speaker 1: human space flight program back together without using the Russians, 571 00:32:47,800 --> 00:32:50,040 Speaker 1: there's a lot of exciting stuff happening. It doesn't always 572 00:32:50,040 --> 00:32:54,160 Speaker 1: include Elon Musk. Granted he's he's moved us very far 573 00:32:54,200 --> 00:32:56,680 Speaker 1: ahead here in a very short period of time. But 574 00:32:56,720 --> 00:33:00,200 Speaker 1: it's the government's opportunity to stand up on mon Day 575 00:33:00,200 --> 00:33:04,160 Speaker 1: at last. This is what we're fifty decades or fifty years, 576 00:33:04,200 --> 00:33:08,240 Speaker 1: I should say, five decades after uh landing on the Moon. Here, 577 00:33:08,880 --> 00:33:12,360 Speaker 1: NASA is going to launch its most powerful rocket ever 578 00:33:12,520 --> 00:33:15,240 Speaker 1: on Monday. If you've heard about this thing, it is huge, 579 00:33:15,360 --> 00:33:17,440 Speaker 1: and it's gonna go up from Pad thirty nine B, 580 00:33:18,240 --> 00:33:21,320 Speaker 1: the iconic launch pad at the Kennedy Space Center on 581 00:33:21,400 --> 00:33:23,520 Speaker 1: Monday morning. This is not the trip to the Moon, 582 00:33:24,120 --> 00:33:28,360 Speaker 1: but a test flight for what will be a a 583 00:33:28,600 --> 00:33:31,360 Speaker 1: manned mission to the Moon in a couple of years. 584 00:33:31,680 --> 00:33:36,200 Speaker 1: Here's Bill Nelson, former Senator now Director of NASA. We 585 00:33:36,320 --> 00:33:42,240 Speaker 1: have one rocket and one spacecraft that is now in 586 00:33:42,360 --> 00:33:49,360 Speaker 1: the barn, in the stable that's ready to launch astronauts. Uh. 587 00:33:49,440 --> 00:33:54,040 Speaker 1: And that is the rocket s l S and the 588 00:33:54,120 --> 00:33:59,960 Speaker 1: spacecraft Orion spacecraft Orion. Uh. The rockets in the barn, 589 00:34:00,040 --> 00:34:03,440 Speaker 1: and says Director Nelson. The headline on the terminal NASA 590 00:34:03,480 --> 00:34:09,440 Speaker 1: Boeing target February Tree for Crude star Liner mission. Rick. 591 00:34:09,520 --> 00:34:12,480 Speaker 1: There was a time when we were arguing during the 592 00:34:12,520 --> 00:34:15,279 Speaker 1: Obama administration, between Bush and Obama about whether it was 593 00:34:15,320 --> 00:34:19,239 Speaker 1: even worth going back to the Moon. Is there is 594 00:34:19,280 --> 00:34:24,480 Speaker 1: there a purpose beyond scientific exploration, knowing we've already gone 595 00:34:24,480 --> 00:34:27,000 Speaker 1: back there and realizing it could be a way station 596 00:34:27,040 --> 00:34:29,239 Speaker 1: for other missions, But in terms of national pride, in 597 00:34:29,360 --> 00:34:32,359 Speaker 1: terms of projecting power, is it time to go back 598 00:34:32,360 --> 00:34:36,680 Speaker 1: to the Moon. I'm a total buy in on the 599 00:34:36,719 --> 00:34:39,480 Speaker 1: concept that we can be bigger than ourselves if we 600 00:34:39,480 --> 00:34:42,480 Speaker 1: shoot for the stars. And I think, you know, President 601 00:34:42,560 --> 00:34:46,160 Speaker 1: Kennedy really was able to galvanize the country around this 602 00:34:46,239 --> 00:34:49,000 Speaker 1: space program. And it's been a long time since we 603 00:34:49,080 --> 00:34:52,120 Speaker 1: heard inspiring words about reaching for the stars. And I 604 00:34:52,120 --> 00:34:56,200 Speaker 1: think this is a new cycle for NASA and another opportunity. 605 00:34:56,239 --> 00:34:58,360 Speaker 1: And by the way, there are lots of reasons to 606 00:34:58,360 --> 00:35:00,680 Speaker 1: be up there. I mean, there is there's arms race 607 00:35:00,760 --> 00:35:03,640 Speaker 1: in space. Uh, there's no question that China is trying 608 00:35:03,640 --> 00:35:06,279 Speaker 1: to get ahead of us, you know, in its technology 609 00:35:06,280 --> 00:35:08,560 Speaker 1: and space. We now rely on space for all our 610 00:35:08,600 --> 00:35:12,520 Speaker 1: communications and our needs there. But they're also really important 611 00:35:12,560 --> 00:35:15,160 Speaker 1: things to learn about, things like space, weather. What happens 612 00:35:15,160 --> 00:35:18,040 Speaker 1: on the Sun affects everything we do on Earth, and 613 00:35:18,120 --> 00:35:23,200 Speaker 1: so science evolves on this. Uh, our knowledge will expand. 614 00:35:23,280 --> 00:35:25,239 Speaker 1: And the fact that we can create an outpost on 615 00:35:25,280 --> 00:35:28,320 Speaker 1: the Moon to help learn from that, I think is spectacular. 616 00:35:28,600 --> 00:35:31,239 Speaker 1: So is there a way for the administration to harness that? 617 00:35:31,320 --> 00:35:32,719 Speaker 1: I mean, if this I can tell you right now, 618 00:35:32,719 --> 00:35:35,000 Speaker 1: if Donald Trump were in the White House, you know, 619 00:35:35,080 --> 00:35:37,120 Speaker 1: he'd have Trump painted on the side of the sucker. 620 00:35:37,160 --> 00:35:40,400 Speaker 1: How how does Joe Biden harness the positivity from the mission? 621 00:35:41,800 --> 00:35:44,680 Speaker 1: I think that Joe Biden needs to embrace it and 622 00:35:44,680 --> 00:35:47,280 Speaker 1: and call it his own. Uh. I think the idea 623 00:35:47,320 --> 00:35:50,440 Speaker 1: that we're talking about this armatist program and all the 624 00:35:50,520 --> 00:35:54,279 Speaker 1: incredible footage we saw this giant, you know, rocket that's 625 00:35:54,400 --> 00:35:57,879 Speaker 1: larger higher than the Statue of Liberty, and and how 626 00:35:57,920 --> 00:36:00,800 Speaker 1: powerful it is without the present having his own emperor 627 00:36:00,800 --> 00:36:03,520 Speaker 1: monter on. It's just a missed opportunity, and instead he's 628 00:36:03,840 --> 00:36:06,480 Speaker 1: over in Maryland talking about maga is just like, I 629 00:36:06,600 --> 00:36:09,360 Speaker 1: just feel bad. I I was so excited yesterday. I 630 00:36:09,480 --> 00:36:11,520 Speaker 1: watched arm again last night just to get in a 631 00:36:11,640 --> 00:36:14,560 Speaker 1: space mode. So how does he get to it? Max? 632 00:36:14,600 --> 00:36:16,040 Speaker 1: I'm looking at a picture of this thing, and it 633 00:36:16,120 --> 00:36:19,360 Speaker 1: really it's incredibly impressive. As they're hauling it out to 634 00:36:19,360 --> 00:36:21,960 Speaker 1: the pad, it does look like a skyscraper. They're sending 635 00:36:22,040 --> 00:36:27,200 Speaker 1: Kamala Harris down. Should Joe Biden go? I think when 636 00:36:27,200 --> 00:36:29,319 Speaker 1: this gets closer, as it starts to develop, you will 637 00:36:29,520 --> 00:36:31,799 Speaker 1: you will certainly see that. I mean, I love that 638 00:36:31,840 --> 00:36:34,080 Speaker 1: it looks like a Saturn five rocket. I do think 639 00:36:34,080 --> 00:36:37,959 Speaker 1: that this is an opportunity independent of politics to bring 640 00:36:38,000 --> 00:36:41,880 Speaker 1: people together. I mean, nothing unifies the country like the 641 00:36:41,960 --> 00:36:43,920 Speaker 1: thought that our best days are ahead of us and 642 00:36:43,920 --> 00:36:47,880 Speaker 1: then we're still capable of doing incredible, difficult, big things 643 00:36:47,960 --> 00:36:50,839 Speaker 1: like this. I'm sure that he will have have some 644 00:36:50,880 --> 00:36:53,919 Speaker 1: comment I just as has been a constant critique of mine. 645 00:36:54,000 --> 00:36:56,120 Speaker 1: I wish that he would just be more public and 646 00:36:56,160 --> 00:36:59,120 Speaker 1: more in the community about these things and willing to 647 00:36:59,200 --> 00:37:02,120 Speaker 1: explain to people why it matters so much, because this 648 00:37:02,200 --> 00:37:05,000 Speaker 1: is every president loves to say, We're going to the moon, 649 00:37:05,200 --> 00:37:07,560 Speaker 1: and now we have the chance to really do it. Well, 650 00:37:07,640 --> 00:37:10,360 Speaker 1: it's I mean, my gosh, it's just part of the lexicon. Moonshot, 651 00:37:10,360 --> 00:37:12,000 Speaker 1: it has its own meaning. Now they used it for 652 00:37:12,040 --> 00:37:15,840 Speaker 1: the cancer program and the Obama administration. Rick should he 653 00:37:15,840 --> 00:37:18,160 Speaker 1: be going down on Monday? You know? Look, I mean 654 00:37:18,200 --> 00:37:21,120 Speaker 1: there's always the threat that something goes wrong, and it 655 00:37:21,480 --> 00:37:24,680 Speaker 1: looks like the presidence presence there might have forced people 656 00:37:24,719 --> 00:37:27,480 Speaker 1: to make decisions to do something that otherwise they wouldn't do. 657 00:37:27,560 --> 00:37:30,840 Speaker 1: So it's not it's not a free shot. It's not easy. 658 00:37:30,880 --> 00:37:34,440 Speaker 1: But I do think that that that as a president 659 00:37:34,480 --> 00:37:36,840 Speaker 1: of the United States and frankly the leader of the 660 00:37:36,880 --> 00:37:41,880 Speaker 1: free world, embracing this kind of uh technology and and 661 00:37:42,040 --> 00:37:46,160 Speaker 1: our leadership in it is really important. And I would 662 00:37:46,160 --> 00:37:48,760 Speaker 1: certainly be a voice inside the White House saying, hey, 663 00:37:48,840 --> 00:37:50,200 Speaker 1: you know, we've got to be on top of this. 664 00:37:50,440 --> 00:37:52,239 Speaker 1: I've long said it's going to feel real different to 665 00:37:52,239 --> 00:37:54,000 Speaker 1: people who don't seem to care at all about the 666 00:37:54,000 --> 00:37:56,239 Speaker 1: space program now when they see a Chinese flag on 667 00:37:56,280 --> 00:37:59,560 Speaker 1: the moon. But that's a conversation for another day. Great 668 00:37:59,600 --> 00:38:01,920 Speaker 1: talk with Rick Davis, and thanks to Max Burns for 669 00:38:01,960 --> 00:38:03,840 Speaker 1: coming back in to be part of our panel on 670 00:38:03,920 --> 00:38:06,600 Speaker 1: the Fastest Hour in Politics. My god, it's already over. 671 00:38:07,040 --> 00:38:09,880 Speaker 1: If you showed up late, subscribe to the podcast. That launch, 672 00:38:09,920 --> 00:38:12,280 Speaker 1: by the way, could be as early as eight thirty. 673 00:38:12,320 --> 00:38:14,640 Speaker 1: That's when the window opens Monday. You know we're gonna 674 00:38:14,640 --> 00:38:17,600 Speaker 1: bring it to you here on Bloomberg. See you back 675 00:38:17,600 --> 00:38:20,480 Speaker 1: here Monday on sound On. I'm Joe Matthew. This he 676 00:38:20,640 --> 00:38:21,239 Speaker 1: is Bloomberg.