1 00:00:00,080 --> 00:00:10,160 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Welcome to the Bloomberg 2 00:00:10,240 --> 00:00:15,920 Speaker 1: This Weekend Podcast with David Gura, Christina Raffini, and Lisa Matteo. 3 00:00:17,680 --> 00:00:20,600 Speaker 2: Thanks for joining us for today's selection of conversations from 4 00:00:20,600 --> 00:00:20,959 Speaker 2: the show. 5 00:00:21,200 --> 00:00:23,479 Speaker 3: You can listen to our favorite discussions right here on 6 00:00:23,520 --> 00:00:25,800 Speaker 3: the podcast, but also make sure to join us live 7 00:00:25,960 --> 00:00:28,960 Speaker 3: every Saturday and Sunday morning, starting at seven am Easter. 8 00:00:29,160 --> 00:00:32,760 Speaker 4: We're on Bloomberg Television, Radio and the Bloomberg Business App, 9 00:00:33,040 --> 00:00:38,240 Speaker 4: bringing you unique takes and in depth interviews on news, politics, lifestyle, 10 00:00:38,360 --> 00:00:39,120 Speaker 4: and culture. 11 00:00:41,200 --> 00:00:43,040 Speaker 2: I'm going to start with some breaking news this morning. 12 00:00:43,080 --> 00:00:45,920 Speaker 2: Senator Lindsey Graham died last night from what his office 13 00:00:45,920 --> 00:00:48,360 Speaker 2: says was a quote brief and sudden illness. 14 00:00:48,400 --> 00:00:49,960 Speaker 5: He was seventy one years old. 15 00:00:50,360 --> 00:00:53,000 Speaker 2: The senior senator from South Carolina was one of President 16 00:00:53,040 --> 00:00:56,440 Speaker 2: Trump's closest congressional allies and had just returned from a 17 00:00:56,440 --> 00:01:00,000 Speaker 2: trip to Ukraine. There he met with President Zelenski on Friday. 18 00:01:00,320 --> 00:01:03,279 Speaker 3: On Saturday night, emergency personnel responded to a call for 19 00:01:03,320 --> 00:01:06,520 Speaker 3: cardiac arrest at Graham's home in Washington. That's according to 20 00:01:06,560 --> 00:01:10,080 Speaker 3: NBC News, which obtained police scanner audio. President Trump leading 21 00:01:10,120 --> 00:01:13,400 Speaker 3: the tributes, posting this overnight quote, Senator Lindsay Graham, one 22 00:01:13,440 --> 00:01:16,120 Speaker 3: of the greatest people and senators I've ever known, is dead. 23 00:01:16,600 --> 00:01:19,080 Speaker 3: He was always working and was a true American patriot. 24 00:01:19,319 --> 00:01:22,520 Speaker 3: Lindsay will be greatly missed. Details and arrangements to follow, 25 00:01:22,920 --> 00:01:26,080 Speaker 3: so sad joining us now is Bloomberg Congression reporter Eric Watson, 26 00:01:26,080 --> 00:01:28,080 Speaker 3: and Eric, I want to start with this dynamic that 27 00:01:28,120 --> 00:01:30,560 Speaker 3: was really kind of characteristic of Lindsay Graham. At a 28 00:01:30,560 --> 00:01:33,800 Speaker 3: time of great isolationism in the Republican Party. He was 29 00:01:33,800 --> 00:01:38,600 Speaker 3: an avowed interventionalist, traveling around the world, as Christina just mentioned, 30 00:01:38,640 --> 00:01:41,840 Speaker 3: most recently in Ukraine. His passion was that and I 31 00:01:41,840 --> 00:01:43,280 Speaker 3: wonder if you could talk a bit about the role 32 00:01:43,319 --> 00:01:45,600 Speaker 3: that he played in the US Senate over his four 33 00:01:45,680 --> 00:01:46,760 Speaker 3: terms in the Senate. 34 00:01:47,680 --> 00:01:47,880 Speaker 1: Yeah. 35 00:01:47,920 --> 00:01:49,440 Speaker 6: First of all, I just want to say I'm shocked 36 00:01:49,480 --> 00:01:51,640 Speaker 6: by this news. He was a very nice person in 37 00:01:51,680 --> 00:01:55,120 Speaker 6: the hallway, very personable and friendly, and I'm very surprised 38 00:01:55,120 --> 00:01:57,960 Speaker 6: and saddened by it. He wasn't interventionalist much in the 39 00:01:58,000 --> 00:02:01,360 Speaker 6: mold of Mitch McConnell and the late John McCain, a 40 00:02:01,400 --> 00:02:03,640 Speaker 6: breed of Republican that seems to be phasing out in 41 00:02:03,640 --> 00:02:06,960 Speaker 6: the America First era. He just announced the Russia sanctions 42 00:02:07,280 --> 00:02:09,040 Speaker 6: bill that he's going to try to push in the 43 00:02:09,080 --> 00:02:14,640 Speaker 6: Senate on Friday after a meeting with Vladimir Vezelenski in Ukraine. 44 00:02:15,200 --> 00:02:18,520 Speaker 6: Very much an interventionist, very much a warhawk. You know, 45 00:02:18,560 --> 00:02:20,960 Speaker 6: he was very much in favor of the bombing of Iran, 46 00:02:21,080 --> 00:02:24,000 Speaker 6: of trying to replace the regime. There. Just a very 47 00:02:24,000 --> 00:02:28,480 Speaker 6: assertive foreign policy voice that's going to leave that faction 48 00:02:28,560 --> 00:02:31,799 Speaker 6: of the party without a very very clear champion right 49 00:02:31,840 --> 00:02:36,519 Speaker 6: now in the debates to come. Someone also a senior appropriator, 50 00:02:36,520 --> 00:02:40,320 Speaker 6: someone who you know, fought to increase the military budget 51 00:02:41,160 --> 00:02:43,480 Speaker 6: as well as you know, leading one of the leaders 52 00:02:43,520 --> 00:02:47,560 Speaker 6: on the massive Republican tax cuts that went through. So 53 00:02:47,680 --> 00:02:50,600 Speaker 6: you know, this is going to lead an opening in 54 00:02:50,680 --> 00:02:54,560 Speaker 6: the Senate. I'm hearing from a source the Joe Wilson, 55 00:02:54,600 --> 00:02:57,800 Speaker 6: the representative senior representative on the House side, is very 56 00:02:57,840 --> 00:02:59,640 Speaker 6: much interested in running for this seat. Will be a 57 00:02:59,639 --> 00:03:04,120 Speaker 6: special primary and could be appointed by Governor McMaster in 58 00:03:04,160 --> 00:03:07,120 Speaker 6: the coming days. You know, it's hard to see who 59 00:03:07,200 --> 00:03:10,920 Speaker 6: else from the delegation could really unite the group. Nancy 60 00:03:11,000 --> 00:03:14,240 Speaker 6: Mace and Ralph Norman are two other Republicans that are 61 00:03:14,280 --> 00:03:16,680 Speaker 6: prominent in the delegation. They ran against the other for governor. 62 00:03:17,280 --> 00:03:20,160 Speaker 6: So you know, it's very much a developing story. But 63 00:03:20,200 --> 00:03:23,200 Speaker 6: this is someone one of the biggest personality's, biggest characters 64 00:03:23,200 --> 00:03:24,760 Speaker 6: in the Senate, and he's going to be going to 65 00:03:24,800 --> 00:03:26,280 Speaker 6: be missed by his colleagues, I think. 66 00:03:26,200 --> 00:03:28,480 Speaker 2: And Joe Wilson for those who are not familiar with him. 67 00:03:28,520 --> 00:03:30,680 Speaker 2: I remember I wrote a piece back in two thousand 68 00:03:30,680 --> 00:03:32,480 Speaker 2: and nine. He was the gentleman who shouted out you 69 00:03:32,680 --> 00:03:35,400 Speaker 2: lai during Obama's joint address to Congress, which at the 70 00:03:35,440 --> 00:03:38,280 Speaker 2: time was controversial for heated political rhetoric. 71 00:03:38,480 --> 00:03:40,720 Speaker 5: How the ball has moved in that time. But I 72 00:03:40,760 --> 00:03:41,640 Speaker 5: first met Luda. 73 00:03:41,480 --> 00:03:44,400 Speaker 6: Graham, and his son is likely to be the next governor. 74 00:03:44,440 --> 00:03:48,200 Speaker 6: Alan Wilson h people, so it's the potential rise of 75 00:03:48,200 --> 00:03:49,200 Speaker 6: the Wilson dynasty. 76 00:03:49,560 --> 00:03:51,320 Speaker 2: Be something to watch there. I mean we were talking 77 00:03:51,320 --> 00:03:53,880 Speaker 2: before we came on the air. I first met Senator 78 00:03:53,880 --> 00:03:57,560 Speaker 2: Graham in twenty sixteen when he was endorsing Jeb Bush 79 00:03:57,600 --> 00:04:01,000 Speaker 2: for president and fighting very strongly against the Canada he 80 00:04:01,040 --> 00:04:04,160 Speaker 2: didn't believe in, and that was Donald Trump. I pulled 81 00:04:04,160 --> 00:04:07,120 Speaker 2: some quotes from this morning in that era, saying that 82 00:04:07,160 --> 00:04:10,240 Speaker 2: Trump was reckless and he says things that don't make sense. 83 00:04:10,640 --> 00:04:13,480 Speaker 2: Can you talk a little bit about Graham's political evolution 84 00:04:13,720 --> 00:04:17,480 Speaker 2: and his evolving friendship with President Trump. Trump was quoted 85 00:04:18,040 --> 00:04:19,880 Speaker 2: as saying, he's one of his best friends. 86 00:04:20,040 --> 00:04:20,880 Speaker 5: How did we get there? 87 00:04:21,720 --> 00:04:24,200 Speaker 6: You know, it's been up and down their relationship. Certainly 88 00:04:24,240 --> 00:04:26,680 Speaker 6: Graham early on, I remember being at a big Galla 89 00:04:26,760 --> 00:04:29,240 Speaker 6: dinner in Washington where he was on c SPAM where 90 00:04:29,240 --> 00:04:30,719 Speaker 6: he made fun of President Trump. 91 00:04:31,560 --> 00:04:31,760 Speaker 7: You know. 92 00:04:31,800 --> 00:04:34,120 Speaker 6: Then he became a backer, and then after the January 93 00:04:34,160 --> 00:04:37,400 Speaker 6: sixth riots, he was very critical, even saying he's done 94 00:04:37,440 --> 00:04:39,520 Speaker 6: with the president. I'm very upset with the way that 95 00:04:39,520 --> 00:04:41,880 Speaker 6: that was handled. This is the January sixth riot of 96 00:04:41,920 --> 00:04:46,279 Speaker 6: protesting by victory that resulted the beating up of cops. 97 00:04:47,320 --> 00:04:49,400 Speaker 6: And then Graham went back into the fold. I think 98 00:04:49,400 --> 00:04:52,360 Speaker 6: Graham always wanted to be in the mix, wanted to 99 00:04:52,400 --> 00:04:55,360 Speaker 6: be influential, and he felt, you know, it was his duty, 100 00:04:55,440 --> 00:04:58,960 Speaker 6: especially given the views he had on Israel, strong supporter 101 00:04:59,000 --> 00:05:02,920 Speaker 6: of Israel, IRA and the rest of the foreign policy portfolio, 102 00:05:02,960 --> 00:05:05,640 Speaker 6: to be influential and be close to the president. So 103 00:05:05,680 --> 00:05:08,039 Speaker 6: I think, you know, and he continued to push that 104 00:05:08,080 --> 00:05:12,600 Speaker 6: even onto his last dying breaths here, you know, pushing 105 00:05:12,600 --> 00:05:15,120 Speaker 6: this Russia sanctions bill that had been stalled for years, 106 00:05:15,560 --> 00:05:17,479 Speaker 6: but saying that it was going to move forward on 107 00:05:17,560 --> 00:05:20,800 Speaker 6: Friday to sort of try to force Vladimir Putin to 108 00:05:20,800 --> 00:05:22,080 Speaker 6: make a peace in Ukraine. 109 00:05:22,440 --> 00:05:24,839 Speaker 3: Erk last question here, Christina, asking about that friendship, the 110 00:05:24,839 --> 00:05:27,640 Speaker 3: evolution of that friendship. He was also very useful person 111 00:05:27,640 --> 00:05:29,599 Speaker 3: for President Trump to have in the US Senate. He 112 00:05:29,680 --> 00:05:33,480 Speaker 3: shared the Judiciary Committee for many years and really worked 113 00:05:33,560 --> 00:05:37,640 Speaker 3: quite ardently to enact what President Trump wanted to see 114 00:05:37,640 --> 00:05:39,520 Speaker 3: a lot more judges confirmed. 115 00:05:39,120 --> 00:05:39,960 Speaker 8: By that committee. 116 00:05:39,960 --> 00:05:41,520 Speaker 3: Talk a bit about that, if you would, just the 117 00:05:41,560 --> 00:05:44,719 Speaker 3: way that he executed the policy vision of this president. 118 00:05:45,279 --> 00:05:47,080 Speaker 6: Oh, I know, I think you know. He was chairman 119 00:05:47,160 --> 00:05:50,640 Speaker 6: during the Brett Kavanaugh hearings, very much defending Kavanaugh. Came 120 00:05:50,720 --> 00:05:55,280 Speaker 6: under attacks for his behavior as teenager, you know, and 121 00:05:55,800 --> 00:05:59,080 Speaker 6: that really set him up to be an ally again 122 00:05:59,120 --> 00:06:01,640 Speaker 6: of President Trump. So I think he's always you know, 123 00:06:01,720 --> 00:06:05,160 Speaker 6: he's a traditional conservative in many many ways, you know, 124 00:06:05,360 --> 00:06:08,159 Speaker 6: having fought for the tax cuts, even though he once 125 00:06:08,279 --> 00:06:10,400 Speaker 6: was a deficit hawk and these tax cuts cost four 126 00:06:10,400 --> 00:06:15,719 Speaker 6: trillion dollars, he quickly got behind them and made them happen, 127 00:06:16,400 --> 00:06:18,640 Speaker 6: you know, by adjusting the way that they are counted for. 128 00:06:18,760 --> 00:06:21,720 Speaker 6: So you know, he was obviously someone who always fought 129 00:06:21,760 --> 00:06:24,599 Speaker 6: to be at the center of everything, and I would 130 00:06:24,640 --> 00:06:26,599 Speaker 6: say someone who actually believed in the free media. He 131 00:06:26,680 --> 00:06:29,400 Speaker 6: was someone who talked to reporters who believed, you know, 132 00:06:29,440 --> 00:06:30,720 Speaker 6: that we're not the enemies of the people. 133 00:06:30,720 --> 00:06:31,719 Speaker 8: And I did appreciate that. 134 00:06:32,120 --> 00:06:34,200 Speaker 5: All right, Eric Watson, thank you so much for joining us. 135 00:06:34,240 --> 00:06:36,040 Speaker 2: I know it was an early phone call from US, 136 00:06:36,040 --> 00:06:38,680 Speaker 2: but it was quite a surprise. Overnight, Lindsay Graham, the 137 00:06:38,760 --> 00:06:41,599 Speaker 2: Senator from South Carolina, dead at seventy one. 138 00:06:41,720 --> 00:06:42,480 Speaker 5: Thank you so much. 139 00:06:42,880 --> 00:06:45,360 Speaker 3: More breaking news overnight, the US military hit one hundred 140 00:06:45,400 --> 00:06:48,040 Speaker 3: and forty targets in Iran. New video released by Syncom 141 00:06:48,200 --> 00:06:51,919 Speaker 3: showing dramatic explosions, saying it struck missile and drone sites, 142 00:06:52,040 --> 00:06:55,719 Speaker 3: naval assets, ammunition storage facilities, and more. It's coming after, 143 00:06:55,760 --> 00:06:58,640 Speaker 3: it says the Iranian navy attacked a merchant ship passing 144 00:06:58,680 --> 00:06:59,880 Speaker 3: through the Strait of Homo. 145 00:07:00,279 --> 00:07:03,080 Speaker 2: The Islamic Revolutionary Guards are fighting back this morning, saying 146 00:07:03,080 --> 00:07:06,760 Speaker 2: they've targeted American assets across the Middle East. Abr Abu 147 00:07:06,760 --> 00:07:09,520 Speaker 2: Omar is a blueberg Realise correspondent. She's joining us now 148 00:07:09,520 --> 00:07:13,200 Speaker 2: from Dubai. And Shannon Kingston is ABC News State Department reporter. 149 00:07:13,360 --> 00:07:15,920 Speaker 2: She is joining us from Washington. Aberra, I want to 150 00:07:15,960 --> 00:07:18,040 Speaker 2: start with you. Do we have any kind of idea 151 00:07:18,160 --> 00:07:20,280 Speaker 2: of what was hit overnight? I was seeing reports as 152 00:07:20,280 --> 00:07:22,680 Speaker 2: we were coming in this morning of possibly the death 153 00:07:22,720 --> 00:07:25,480 Speaker 2: of a child in Qatar, also strikes in Oman and elsewhere, 154 00:07:25,480 --> 00:07:26,720 Speaker 2: maybe Jordan, throughout the region. 155 00:07:26,760 --> 00:07:28,960 Speaker 5: What does the damage report as everyone's waking up today. 156 00:07:30,240 --> 00:07:34,080 Speaker 9: Yeah, good morning, guys. So we're hearing of these explosions 157 00:07:34,080 --> 00:07:36,440 Speaker 9: happening across the Middle East and least did for Tat. 158 00:07:36,720 --> 00:07:39,520 Speaker 9: Attacks continue to happen, and they started at the beginning 159 00:07:39,720 --> 00:07:41,880 Speaker 9: of this week or the past week, should I say, 160 00:07:42,200 --> 00:07:45,600 Speaker 9: when Iran targeted a guitar flag ship in the Strait 161 00:07:45,640 --> 00:07:47,840 Speaker 9: of her Moves and then the US went on to 162 00:07:47,880 --> 00:07:51,360 Speaker 9: attack Iran military targets there for two straight days. Now. 163 00:07:51,760 --> 00:07:55,080 Speaker 9: It seemed to have calmed down throughout the end of 164 00:07:55,200 --> 00:07:58,360 Speaker 9: last week, at least especially after President Trump came out 165 00:07:58,480 --> 00:08:01,000 Speaker 9: during the NATO summit and said that as far as 166 00:08:01,000 --> 00:08:03,080 Speaker 9: he's concerned, this cease fire is over. But then we 167 00:08:03,120 --> 00:08:06,360 Speaker 9: heard some caveats from the people around him, but also 168 00:08:06,560 --> 00:08:09,600 Speaker 9: from the Middle Eastern part of the world, where we 169 00:08:09,640 --> 00:08:12,960 Speaker 9: heard the talks are set to continue despite that very 170 00:08:13,000 --> 00:08:16,160 Speaker 9: strong escalation in the rhetoric. But then over the weekend 171 00:08:16,200 --> 00:08:21,480 Speaker 9: and especially today, this Cypress flagged ship was hit by Iran. 172 00:08:21,520 --> 00:08:23,440 Speaker 9: We're hearing just at the top of your show as 173 00:08:23,560 --> 00:08:26,120 Speaker 9: just following the news, we're seeing headlines across the Bloomberg 174 00:08:26,200 --> 00:08:31,040 Speaker 9: Terminus saying the Amani, which works alongside Iran to sort 175 00:08:31,080 --> 00:08:34,240 Speaker 9: of monitor the strait of Hermuz, said that it rescue 176 00:08:34,280 --> 00:08:38,040 Speaker 9: twenty three crew members of the GFS Galaxy after the incident. 177 00:08:38,080 --> 00:08:41,040 Speaker 9: This is the Cypress flagged ship. And so the US, 178 00:08:41,080 --> 00:08:43,920 Speaker 9: as David had mentioned, targeted one hundred and forty targets 179 00:08:43,920 --> 00:08:47,959 Speaker 9: across around most of those military targets. Earlier in the 180 00:08:48,000 --> 00:08:51,800 Speaker 9: week it had targeted bridges. Some a dozen people are 181 00:08:51,800 --> 00:08:56,240 Speaker 9: so were killed, and Iran some seventy eight people were injured. 182 00:08:56,280 --> 00:08:58,800 Speaker 9: And just this morning we're hearing these sirens across the 183 00:08:58,800 --> 00:09:03,800 Speaker 9: Middle East. In thee in Guitar Kuwait and badin Christina. 184 00:09:03,880 --> 00:09:06,360 Speaker 9: As you've mentioned as well, Guitar is saying that three 185 00:09:06,400 --> 00:09:10,000 Speaker 9: people were injured, including a child. And so we're seeing 186 00:09:10,000 --> 00:09:12,680 Speaker 9: this escalation and the rhetoric quite a bit this morning. 187 00:09:12,760 --> 00:09:15,720 Speaker 9: It's still unclear if we're going to see a return 188 00:09:15,880 --> 00:09:19,480 Speaker 9: to diplomacy, a return to those technical talks that we're 189 00:09:19,559 --> 00:09:23,439 Speaker 9: taking place up until a couple of weeks ago in Doha. 190 00:09:23,480 --> 00:09:26,160 Speaker 9: But it seems that the situation is slightly a little 191 00:09:26,160 --> 00:09:29,560 Speaker 9: bit more complicated, especially with p Texas saying that Iran 192 00:09:29,800 --> 00:09:32,200 Speaker 9: will pay and this is a quote from him, will 193 00:09:32,200 --> 00:09:36,200 Speaker 9: pay for the damage that it had ensued on the 194 00:09:36,200 --> 00:09:40,200 Speaker 9: Strait of Removes. Iran on its own saying that the 195 00:09:40,200 --> 00:09:43,319 Speaker 9: Strait of Removes is shut and that no ships can 196 00:09:43,360 --> 00:09:45,640 Speaker 9: make movements. So we're back to I don't want to 197 00:09:45,640 --> 00:09:48,680 Speaker 9: say square one, because we're not seeing a kinetic sort 198 00:09:48,679 --> 00:09:51,880 Speaker 9: of warfare similar to what we've seen in March. But 199 00:09:51,920 --> 00:09:54,960 Speaker 9: we're going back to a place that we didn't think 200 00:09:55,000 --> 00:09:58,440 Speaker 9: we would be at after that MoU was signed just 201 00:09:58,520 --> 00:09:59,920 Speaker 9: three and a half weeks ago. 202 00:10:00,400 --> 00:10:00,600 Speaker 7: Cheon. 203 00:10:00,679 --> 00:10:02,800 Speaker 3: Let me pick up on that point about these talks, 204 00:10:02,840 --> 00:10:04,760 Speaker 3: the technical talks that were supposed to be underway this weekend. 205 00:10:04,800 --> 00:10:07,480 Speaker 3: We know the Iranian Foreign minister traveled to Aman. Seems 206 00:10:07,559 --> 00:10:09,720 Speaker 3: unclear if there were any US representatives who were there 207 00:10:10,120 --> 00:10:12,160 Speaker 3: as well. What is your sense of the status of 208 00:10:12,160 --> 00:10:14,800 Speaker 3: those looking at the backdrop to all of this, the 209 00:10:14,840 --> 00:10:16,760 Speaker 3: wide geography that a bere dis mentioned, a moment ago 210 00:10:16,800 --> 00:10:20,520 Speaker 3: that's been hit overnight. What grounds for optimism are there 211 00:10:20,559 --> 00:10:22,320 Speaker 3: here that these technical talks are going to continue as 212 00:10:22,320 --> 00:10:24,000 Speaker 3: we look at the end of that sixty day period 213 00:10:24,400 --> 00:10:25,200 Speaker 3: not too far off. 214 00:10:26,640 --> 00:10:29,199 Speaker 10: Well, David, one of the reasons that the events in 215 00:10:29,240 --> 00:10:31,880 Speaker 10: the last twelve hours or so had been so head 216 00:10:31,880 --> 00:10:34,800 Speaker 10: spinning is that there was at least a brief moment 217 00:10:35,000 --> 00:10:38,360 Speaker 10: yesterday or it seemed like diplomacy had a chance at 218 00:10:38,440 --> 00:10:41,240 Speaker 10: least to win the day we did see those high 219 00:10:41,320 --> 00:10:46,079 Speaker 10: level talks between mediating powers and an Iranian delegation of negotiators. 220 00:10:46,240 --> 00:10:49,120 Speaker 10: The US was not directly involved, but they were closely 221 00:10:49,200 --> 00:10:52,240 Speaker 10: monitoring the play by play from Afar, and sources say 222 00:10:52,240 --> 00:10:55,080 Speaker 10: that during that high level meeting, the Omani's laid out 223 00:10:55,120 --> 00:10:58,640 Speaker 10: a plan to fully open both lanes of the Strait 224 00:10:58,679 --> 00:11:03,240 Speaker 10: of Hormuz, indicated that maybe this was something that could 225 00:11:03,240 --> 00:11:05,040 Speaker 10: work for them, but they said they had to go 226 00:11:05,160 --> 00:11:08,600 Speaker 10: back to their country first to talk to the highest 227 00:11:08,679 --> 00:11:11,080 Speaker 10: levels of leadership and see if they could get buy in. 228 00:11:11,600 --> 00:11:15,320 Speaker 10: While it wasn't long after that delegation landed back in 229 00:11:15,360 --> 00:11:18,480 Speaker 10: Iran that we did see the IRGC maybe come out 230 00:11:18,520 --> 00:11:20,920 Speaker 10: and say that it was fully closing the straight and 231 00:11:20,960 --> 00:11:24,240 Speaker 10: that it had hit that commercial vessel in the waterway, 232 00:11:24,320 --> 00:11:25,760 Speaker 10: hitting another commercial. 233 00:11:25,320 --> 00:11:26,080 Speaker 11: Ship yet again. 234 00:11:26,160 --> 00:11:28,960 Speaker 10: So that was a very clear answer and very far 235 00:11:29,040 --> 00:11:32,520 Speaker 10: away from what the Trump administration was hoping to accomplish. 236 00:11:32,640 --> 00:11:36,720 Speaker 10: But we have seen through the conflict that US officials 237 00:11:36,720 --> 00:11:40,319 Speaker 10: have said that there are these more moderate factions within 238 00:11:40,360 --> 00:11:43,680 Speaker 10: the Iranian government now that are willing to listen, that 239 00:11:43,720 --> 00:11:47,160 Speaker 10: they can negotiate with. But what the events overnight prove 240 00:11:47,280 --> 00:11:49,959 Speaker 10: is that so long as that there are these hardliners 241 00:11:50,320 --> 00:11:53,600 Speaker 10: within the Iranian government, and so long as those hardliners 242 00:11:53,640 --> 00:11:56,760 Speaker 10: are willing and able to pull the trigger on military 243 00:11:56,800 --> 00:12:00,520 Speaker 10: action on maximalist stances, that those are going to be 244 00:12:00,600 --> 00:12:03,199 Speaker 10: the voices that are much louder at the end of 245 00:12:03,240 --> 00:12:03,800 Speaker 10: the day. 246 00:12:03,840 --> 00:12:05,800 Speaker 2: And there was some reporting from our colleagues at CBS 247 00:12:05,880 --> 00:12:09,000 Speaker 2: yesterday that Iron had possibly said we shouldn't have done 248 00:12:09,040 --> 00:12:10,600 Speaker 2: those strikes. That was a bit of one of those 249 00:12:10,600 --> 00:12:13,440 Speaker 2: factions you mentioned, kind of getting out over ahead of 250 00:12:13,440 --> 00:12:16,000 Speaker 2: where we wanted to be operationally. Shannon, I want to 251 00:12:16,000 --> 00:12:17,839 Speaker 2: follow with you as well, because I'm wondering if we've 252 00:12:17,880 --> 00:12:20,640 Speaker 2: heard any more about these US installations throughout the region, 253 00:12:20,960 --> 00:12:23,200 Speaker 2: and if it's changed the force poture of any of 254 00:12:23,200 --> 00:12:23,760 Speaker 2: the embassies. 255 00:12:23,800 --> 00:12:25,000 Speaker 5: I know some of the embassies there have. 256 00:12:25,000 --> 00:12:29,400 Speaker 2: Been on authorized departure ordered departure for months now. Friends 257 00:12:29,679 --> 00:12:32,200 Speaker 2: in the embassy in Israel have not been able to 258 00:12:32,280 --> 00:12:33,520 Speaker 2: leave that embassy. 259 00:12:33,120 --> 00:12:33,920 Speaker 5: For months and months. 260 00:12:33,920 --> 00:12:36,120 Speaker 2: I'm wondering if you've seen any of those alerts go 261 00:12:36,200 --> 00:12:38,640 Speaker 2: out or warnings to citizens in the region. What is 262 00:12:38,679 --> 00:12:40,480 Speaker 2: the status of diplomats and what are the warnings for 263 00:12:40,520 --> 00:12:41,920 Speaker 2: Americans who might be in harms way. 264 00:12:43,320 --> 00:12:45,679 Speaker 10: That's a great question, and we have seen that the 265 00:12:45,760 --> 00:12:50,720 Speaker 10: security postured embassies, many on ordered or authorized departure largely 266 00:12:50,840 --> 00:12:53,880 Speaker 10: hasn't changed. The one difference at the embassy in Kuwait 267 00:12:53,920 --> 00:12:57,040 Speaker 10: that was the only one versus where operations were fully 268 00:12:57,120 --> 00:13:00,760 Speaker 10: suspended during the hottest days of the confess that was 269 00:13:00,840 --> 00:13:04,320 Speaker 10: recently reopened. The Secretary of State Mark or Rubio, he 270 00:13:04,360 --> 00:13:07,440 Speaker 10: took a trip there attended the flag raising himself. But 271 00:13:07,520 --> 00:13:11,520 Speaker 10: there is no question that this in person diplomacy has 272 00:13:11,760 --> 00:13:16,160 Speaker 10: been degraded somewhat because the US diplomats just can't have 273 00:13:16,320 --> 00:13:19,360 Speaker 10: the same position that they did have before this conflict. 274 00:13:19,640 --> 00:13:21,880 Speaker 10: That was one of the reasons that Secretary of Rubio 275 00:13:22,040 --> 00:13:25,079 Speaker 10: did travel to the region. He wanted to meet with 276 00:13:25,200 --> 00:13:29,119 Speaker 10: golf allies. He wanted to assure them that their security 277 00:13:29,200 --> 00:13:32,360 Speaker 10: was of the utmost importance to the Trump administration. Now 278 00:13:32,400 --> 00:13:36,040 Speaker 10: officials do say that that was a successful mission, but clearly, 279 00:13:36,320 --> 00:13:40,200 Speaker 10: these widespread strikes by iron overnight, even though they are 280 00:13:40,559 --> 00:13:43,839 Speaker 10: largely expected, when we see incidents like this, it's clear 281 00:13:43,880 --> 00:13:46,640 Speaker 10: that from the golf allies golf partners, they're saying, this 282 00:13:46,760 --> 00:13:50,320 Speaker 10: really can't be the new normal. It's been bad enough, 283 00:13:50,320 --> 00:13:53,560 Speaker 10: but if it continues unchecked, there are going to be 284 00:13:53,800 --> 00:13:56,080 Speaker 10: some very real consequences for their economies. 285 00:13:56,440 --> 00:13:58,000 Speaker 3: Babierro w to pick up on that and just go 286 00:13:58,040 --> 00:13:59,240 Speaker 3: back to what you mentioned a moment ago. 287 00:13:59,360 --> 00:14:01,160 Speaker 8: All of the place that have been hit overnight. 288 00:14:01,200 --> 00:14:04,080 Speaker 3: So we're looking at an airbase in Jordan, attacks on 289 00:14:04,120 --> 00:14:09,600 Speaker 3: Cutter Kuwait communications are right, radar installation bof raining as well. 290 00:14:10,160 --> 00:14:12,120 Speaker 3: Shannon mentioning a moment ago, just sort of the way 291 00:14:12,160 --> 00:14:14,240 Speaker 3: that these golf allies are watching all of this unfold, 292 00:14:14,280 --> 00:14:16,640 Speaker 3: and I'm curious sort of among them is there much 293 00:14:16,679 --> 00:14:20,840 Speaker 3: coalescing in terms of encouraging these talks to continue stressing 294 00:14:20,880 --> 00:14:23,320 Speaker 3: the importance there being some resolution to this. Again, we're 295 00:14:23,360 --> 00:14:26,000 Speaker 3: kind of focused on this binary between the US and Iran. Yes, 296 00:14:26,040 --> 00:14:28,680 Speaker 3: with the help of Pakistan and with other nations kind 297 00:14:28,720 --> 00:14:31,240 Speaker 3: of trying to force those conversations to take place. 298 00:14:31,520 --> 00:14:34,160 Speaker 8: Are we seeing a wider movement to kind of convey. 299 00:14:33,880 --> 00:14:35,480 Speaker 3: The seriousness of this and kind of push for some 300 00:14:35,560 --> 00:14:38,080 Speaker 3: resolution here, Yeah. 301 00:14:37,960 --> 00:14:39,960 Speaker 9: David, Look, Katar is one of them, right, Qatar is 302 00:14:40,000 --> 00:14:41,920 Speaker 9: one of or has emerged as one of the key 303 00:14:42,080 --> 00:14:44,760 Speaker 9: mediators over the past few weeks or so to try 304 00:14:44,800 --> 00:14:47,640 Speaker 9: to bring a resolution to this. But even Qatar today 305 00:14:47,760 --> 00:14:50,360 Speaker 9: was attacked and again we mentioned the three people injured 306 00:14:50,440 --> 00:14:52,760 Speaker 9: in Qatar, and so it does seem like there is 307 00:14:52,840 --> 00:14:57,760 Speaker 9: some kind of you lack of communication within Iran's own leadership. 308 00:14:57,800 --> 00:15:01,040 Speaker 9: For example, we've seen we haven't seen all much Tabahamini, 309 00:15:01,280 --> 00:15:03,680 Speaker 9: who is the current Supreme Leader, but we've seen a 310 00:15:03,720 --> 00:15:07,800 Speaker 9: post of him on x saying that Iran must seek 311 00:15:07,880 --> 00:15:10,840 Speaker 9: revenge for the killing of his late father whose funeral 312 00:15:10,960 --> 00:15:14,200 Speaker 9: was taking place last week where the suspended talks were 313 00:15:14,240 --> 00:15:16,800 Speaker 9: happening because of that mass morning. 314 00:15:16,880 --> 00:15:17,360 Speaker 5: But when it. 315 00:15:17,280 --> 00:15:20,160 Speaker 9: Comes to GCC nations, yes, behind the scenes, what we've 316 00:15:20,160 --> 00:15:23,360 Speaker 9: reported on multiple times is that they're really pushing for 317 00:15:23,440 --> 00:15:25,440 Speaker 9: an end to the swar and a reopening of the 318 00:15:25,440 --> 00:15:29,120 Speaker 9: Strait of Her Moves simply because for the time being 319 00:15:29,160 --> 00:15:31,640 Speaker 9: it is still the waterway where the majority of their 320 00:15:31,720 --> 00:15:34,640 Speaker 9: crude exports go through. Now again, we've reported that Saudi 321 00:15:34,640 --> 00:15:37,640 Speaker 9: Arabia the UAE have been doubling down on other routes 322 00:15:37,920 --> 00:15:40,640 Speaker 9: to try to get their shipments across, but realistically that's 323 00:15:40,680 --> 00:15:44,920 Speaker 9: going to take a year to eighteen months to start working. 324 00:15:44,960 --> 00:15:48,080 Speaker 9: And then for Qatar's llen G shipments, we reported when 325 00:15:48,080 --> 00:15:50,800 Speaker 9: the molu As signed that Qatar will start ramping up 326 00:15:50,840 --> 00:15:55,320 Speaker 9: production of its ellen G shipments, and then just last 327 00:15:55,360 --> 00:15:57,760 Speaker 9: week we reported that actually they're going to pause that 328 00:15:57,840 --> 00:15:59,840 Speaker 9: because of the skirmishes that we're seeing across the straight 329 00:15:59,880 --> 00:16:02,120 Speaker 9: up Her Moves. But when it comes to officials from 330 00:16:02,160 --> 00:16:05,240 Speaker 9: the GCC, we heard last week from Anmar Gargash, he 331 00:16:05,440 --> 00:16:09,400 Speaker 9: is a senior advisor to the UEES president, essentially calling 332 00:16:09,440 --> 00:16:13,800 Speaker 9: Iran a rogue player, saying that these skirmishes that are 333 00:16:13,840 --> 00:16:15,920 Speaker 9: happening in the Strait of Her Moves just prove that 334 00:16:15,960 --> 00:16:17,960 Speaker 9: it doesn't want an enter the war. And just now 335 00:16:17,960 --> 00:16:21,160 Speaker 9: we're hearing from Saudi officials saying that what is happening 336 00:16:21,200 --> 00:16:23,600 Speaker 9: in the strait of her moves, and Iran's actions in 337 00:16:23,640 --> 00:16:26,120 Speaker 9: the strait of her moves also prove that it really 338 00:16:26,120 --> 00:16:28,600 Speaker 9: doesn't want an end to the war. So the question 339 00:16:28,720 --> 00:16:31,760 Speaker 9: here really is what does Iran want and how can 340 00:16:31,800 --> 00:16:35,960 Speaker 9: we arrive at those concessions that they agreed on with 341 00:16:36,080 --> 00:16:39,200 Speaker 9: the United States. It does feel for the time being 342 00:16:39,240 --> 00:16:43,680 Speaker 9: that the nuclear component of that MoU that fourteen concession 343 00:16:43,800 --> 00:16:46,320 Speaker 9: mlu David that we've reported on, it does feel like 344 00:16:46,400 --> 00:16:48,960 Speaker 9: the nuclear component is take in a back seat. It 345 00:16:49,000 --> 00:16:51,600 Speaker 9: does feel like the strait of her moves is front 346 00:16:51,600 --> 00:16:54,400 Speaker 9: and center, and those attacks that are happening there are 347 00:16:54,760 --> 00:16:56,520 Speaker 9: everyone's concerned at the time being. 348 00:16:56,880 --> 00:16:57,360 Speaker 5: Well, that's true. 349 00:16:57,400 --> 00:16:59,320 Speaker 2: I mean, we've talked about how it's such an easier 350 00:16:59,360 --> 00:17:01,240 Speaker 2: trigger for them to pull and it has almost an 351 00:17:01,240 --> 00:17:05,239 Speaker 2: instantaneous reaction from the world, whereas the nuclear threat is 352 00:17:05,280 --> 00:17:09,240 Speaker 2: just it's more amorphous and it's not impacting your day 353 00:17:09,240 --> 00:17:11,960 Speaker 2: to day prices, not at the moment, Shinna. Before we 354 00:17:12,040 --> 00:17:14,040 Speaker 2: let you go, I do want to ask you about 355 00:17:14,040 --> 00:17:16,960 Speaker 2: Senator Lindsay Graham, who we found out overnight has passed away, 356 00:17:17,359 --> 00:17:19,840 Speaker 2: because I know we've traveled together on State Department trips. 357 00:17:19,880 --> 00:17:22,040 Speaker 2: And it's always so funny to me that Lindsay Graham 358 00:17:22,080 --> 00:17:23,960 Speaker 2: is one of those people that world leaders have met 359 00:17:23,960 --> 00:17:26,760 Speaker 2: almost as often as the US President. Right, he seems 360 00:17:26,800 --> 00:17:30,400 Speaker 2: to always be everywhere and almost the de facto Secretary 361 00:17:30,440 --> 00:17:32,879 Speaker 2: of State. Can you talk about the role Graham played 362 00:17:32,920 --> 00:17:37,240 Speaker 2: internationally and kind of what his standing was in these countries, 363 00:17:37,280 --> 00:17:39,320 Speaker 2: especially countries that are closely allied with the US when 364 00:17:39,320 --> 00:17:40,560 Speaker 2: it comes to military cooperation. 365 00:17:42,320 --> 00:17:45,399 Speaker 10: That's right, and many world leaders have met within more 366 00:17:45,440 --> 00:17:48,320 Speaker 10: times than they have the sitting president of the United States. 367 00:17:48,680 --> 00:17:50,520 Speaker 10: You don't have to go back very far. In fact, 368 00:17:50,520 --> 00:17:54,240 Speaker 10: it was just this last week that Senator Graham traveled 369 00:17:54,240 --> 00:17:57,720 Speaker 10: to Ukraine. He made that long, arduous, sometimes dangerous journey 370 00:17:57,920 --> 00:18:01,200 Speaker 10: to go to Kiev and meet with Presidents Zelenski sat 371 00:18:01,240 --> 00:18:04,000 Speaker 10: down with him face to face for his tenth wartime 372 00:18:04,160 --> 00:18:07,399 Speaker 10: visit to Ukraine. He has of course been a major 373 00:18:07,480 --> 00:18:11,800 Speaker 10: supporter of that country throughout its war with Russia and 374 00:18:12,000 --> 00:18:16,359 Speaker 10: has been pushing for harsher sanctions against Russia to try 375 00:18:16,400 --> 00:18:19,959 Speaker 10: to bolster Ukraine. He said just before he died that 376 00:18:20,440 --> 00:18:23,399 Speaker 10: finally a Trump administration agreement had been reached with a 377 00:18:23,400 --> 00:18:27,199 Speaker 10: bipartisan group of senators to push forward his package of 378 00:18:27,280 --> 00:18:30,000 Speaker 10: sanctions and that they were looking forward to doing that 379 00:18:30,280 --> 00:18:33,520 Speaker 10: in the coming weeks. It's very likely that we'll see 380 00:18:33,880 --> 00:18:37,560 Speaker 10: those sanctions, that new package push forward in his honor, 381 00:18:37,640 --> 00:18:39,760 Speaker 10: because that is something that he would want his legacy 382 00:18:39,800 --> 00:18:40,400 Speaker 10: to reflect. 383 00:18:40,560 --> 00:18:40,840 Speaker 5: All right. 384 00:18:40,880 --> 00:18:44,000 Speaker 2: Shannon Kingston joining us from ABC News, and Archoleague abr 385 00:18:44,040 --> 00:18:45,840 Speaker 2: ab Omar is joining us from Dubai. 386 00:18:45,840 --> 00:18:46,680 Speaker 5: Thank you, bus some Ricky. 387 00:18:46,720 --> 00:18:51,680 Speaker 3: Both stay with us for more on Bloomberg this weekend. 388 00:18:52,000 --> 00:19:05,880 Speaker 3: Right after this. Joining us now is former US Ambassador 389 00:19:05,960 --> 00:19:09,720 Speaker 3: NATO fromer US Special Representative Preef Brand Negotiations. 390 00:19:08,920 --> 00:19:10,840 Speaker 8: Kurt Volker, Ambassador Bulker. 391 00:19:10,880 --> 00:19:12,359 Speaker 3: Great to have you with us, and I want to 392 00:19:12,400 --> 00:19:15,080 Speaker 3: start with Lindsay Graham and just give you the opportunity 393 00:19:15,080 --> 00:19:16,920 Speaker 3: to talk about the relationship that you had with him 394 00:19:17,240 --> 00:19:18,920 Speaker 3: over the years. I know that the work you were 395 00:19:18,920 --> 00:19:21,919 Speaker 3: doing with NATO with Ukraine, these were issues that Senator 396 00:19:21,920 --> 00:19:24,840 Speaker 3: Graham cared deeply about. And I'm wondering how you're processing 397 00:19:24,840 --> 00:19:26,879 Speaker 3: the news of his death on this Sunday morning. 398 00:19:28,920 --> 00:19:31,760 Speaker 11: Well, well, thank you very much. It's really shocking to hear. 399 00:19:32,440 --> 00:19:35,320 Speaker 11: You know, he was just so vibrant, such a big figure. 400 00:19:36,000 --> 00:19:39,280 Speaker 11: I've known him really since the nineties, when I worked 401 00:19:39,440 --> 00:19:42,280 Speaker 11: one year and as a detail in Senator John McCain's 402 00:19:42,320 --> 00:19:45,640 Speaker 11: office and I met him. Then I traveled with him 403 00:19:45,640 --> 00:19:49,080 Speaker 11: many times, including the Munich Security Conference as part of 404 00:19:49,119 --> 00:19:53,359 Speaker 11: the US delegation there, and then on Ukraine. Senator Graham 405 00:19:53,359 --> 00:19:56,400 Speaker 11: called me very early on after Russia's full scale invasion, 406 00:19:56,720 --> 00:19:58,800 Speaker 11: wanted to talk to me about what was happening, and 407 00:19:58,840 --> 00:20:02,359 Speaker 11: then invited me to brief the Senate Republican Conference to 408 00:20:02,400 --> 00:20:05,359 Speaker 11: talk about what was happening in Ukraine. So he really 409 00:20:05,359 --> 00:20:07,960 Speaker 11: played a major and very direct role, and it's really 410 00:20:08,240 --> 00:20:10,760 Speaker 11: shocking and saddening to hear the news of his passing. 411 00:20:11,400 --> 00:20:13,800 Speaker 2: I do want to ask you, given your background as 412 00:20:13,880 --> 00:20:16,960 Speaker 2: former US ambassador to NATO, about this anchor a summit 413 00:20:17,560 --> 00:20:20,399 Speaker 2: we just had. Everyone was given a gun by the 414 00:20:20,400 --> 00:20:22,240 Speaker 2: president at the end, and yet no one. 415 00:20:22,080 --> 00:20:22,720 Speaker 5: Shot each other. 416 00:20:22,760 --> 00:20:25,960 Speaker 2: It seemed to have been pretty amicable. What is your 417 00:20:26,000 --> 00:20:29,719 Speaker 2: take out of that summit? We use his word very 418 00:20:29,760 --> 00:20:33,000 Speaker 2: sparingly on this show, but the vibes seemed pretty positive, 419 00:20:33,040 --> 00:20:35,320 Speaker 2: considering how worried folks were going into it. 420 00:20:35,359 --> 00:20:36,840 Speaker 5: Do you think there was a bit of a sea change? 421 00:20:36,880 --> 00:20:38,160 Speaker 5: Just give us your outlook. 422 00:20:39,640 --> 00:20:41,679 Speaker 12: Yeah, well, first off, I agree. 423 00:20:41,720 --> 00:20:44,880 Speaker 11: I think it was a very positive summit and very 424 00:20:44,880 --> 00:20:47,520 Speaker 11: good for President Airdowan, who was hosting, but also very 425 00:20:47,520 --> 00:20:50,240 Speaker 11: good for President Trump and for NATO. And we can 426 00:20:50,280 --> 00:20:53,080 Speaker 11: just tick off all the things that happened or didn't happen. 427 00:20:53,119 --> 00:20:55,199 Speaker 11: President Trump came out of the meeting and said, we 428 00:20:55,280 --> 00:20:57,240 Speaker 11: had a great deal of unity. I don't think he's 429 00:20:57,240 --> 00:21:00,480 Speaker 11: ever talked about the word unity with respect to NATO before. 430 00:21:00,760 --> 00:21:02,479 Speaker 11: We had a lot of native unity, a lot of 431 00:21:02,480 --> 00:21:07,160 Speaker 11: love in that room, he said. We had statements about 432 00:21:07,160 --> 00:21:10,439 Speaker 11: freedom of navigation and support for the United States on Iran, 433 00:21:10,800 --> 00:21:14,280 Speaker 11: something that I think President Trump wanted to hear. We 434 00:21:14,359 --> 00:21:17,639 Speaker 11: had that meeting with President Zelensky, also very positive. You 435 00:21:17,680 --> 00:21:20,639 Speaker 11: have the President making an announcement that we're going to 436 00:21:20,640 --> 00:21:25,480 Speaker 11: allow Ukraine to use Patriot missiles or to build Patriot 437 00:21:25,480 --> 00:21:29,520 Speaker 11: missiles under a license in Ukraine. That's a very big step, 438 00:21:29,640 --> 00:21:32,720 Speaker 11: very important, very good for Ukraine, very tough messaging for 439 00:21:32,760 --> 00:21:38,040 Speaker 11: putin in that respect, you had the decisions on continued 440 00:21:38,119 --> 00:21:42,480 Speaker 11: increases in defense spending by European allies, something President Trump 441 00:21:42,520 --> 00:21:45,480 Speaker 11: has been pushing for. Some of that is going into 442 00:21:45,840 --> 00:21:50,400 Speaker 11: defense industry development in Europe, which they desperately need. So 443 00:21:50,680 --> 00:21:53,600 Speaker 11: this all around, this was a very positive meeting and 444 00:21:53,680 --> 00:21:55,440 Speaker 11: a very strong message to Vladimir Putin. 445 00:21:55,640 --> 00:21:56,639 Speaker 8: What do you attribute that to? 446 00:21:57,840 --> 00:21:59,960 Speaker 3: For many NATO summits and the peculiarity of the summits 447 00:22:00,080 --> 00:22:03,240 Speaker 3: that happen every year and they're pretty short, but most 448 00:22:03,280 --> 00:22:05,800 Speaker 3: recent ones, the president has really hammered on this funding issue. 449 00:22:05,960 --> 00:22:07,240 Speaker 3: He did that at this one, but it seems like 450 00:22:07,240 --> 00:22:09,520 Speaker 3: perhaps he's moved on from that. I think also of 451 00:22:09,600 --> 00:22:12,440 Speaker 3: what Congress and Michae McCall told us yesterday from Kiev 452 00:22:12,760 --> 00:22:14,320 Speaker 3: when we spoke to him on the program, that President 453 00:22:14,320 --> 00:22:17,160 Speaker 3: Trump likes a winner, and the fact that kind of 454 00:22:16,640 --> 00:22:19,760 Speaker 3: the way that this war is being wighed in Ukraine, 455 00:22:19,760 --> 00:22:21,320 Speaker 3: how it's changed, how Ukraine has kind of has the 456 00:22:21,400 --> 00:22:23,920 Speaker 3: upper hand now may have had President Trump come around 457 00:22:23,960 --> 00:22:25,919 Speaker 3: to this. I'm curious how you see it, Why you 458 00:22:25,920 --> 00:22:27,840 Speaker 3: think the rhetoric, why the President's position seems to have 459 00:22:27,880 --> 00:22:28,840 Speaker 3: changed as much as it has. 460 00:22:30,600 --> 00:22:32,040 Speaker 12: Right well, with respect to NATO. 461 00:22:32,680 --> 00:22:34,800 Speaker 11: I would not say that President Trump has moved on 462 00:22:35,000 --> 00:22:37,399 Speaker 11: from pushing allies on defense bending. He's going to do 463 00:22:37,480 --> 00:22:40,600 Speaker 11: that every time somebody pushes his NATO button, He's going 464 00:22:40,640 --> 00:22:41,320 Speaker 11: to say, eup. 465 00:22:41,400 --> 00:22:43,639 Speaker 12: Has to do more. That's just a given. 466 00:22:44,119 --> 00:22:46,920 Speaker 11: And I think he's happy because they are doing more, 467 00:22:47,200 --> 00:22:49,960 Speaker 11: so he's getting what he wanted. But he's going to 468 00:22:50,040 --> 00:22:52,840 Speaker 11: keep pushing them as well. So that's one part. The 469 00:22:52,880 --> 00:22:56,919 Speaker 11: other is the war against Iran didn't come out, at 470 00:22:57,000 --> 00:23:00,080 Speaker 11: least not yet the way that President Trump wanted. I 471 00:23:00,080 --> 00:23:01,879 Speaker 11: think you only want a certain number of problems at 472 00:23:01,880 --> 00:23:05,760 Speaker 11: a time, So I think he wants to stabilize the 473 00:23:05,800 --> 00:23:08,600 Speaker 11: war against Iran, keep oil and gas prices down. You 474 00:23:08,640 --> 00:23:10,640 Speaker 11: don't need a problem with NATO at the same time. 475 00:23:10,920 --> 00:23:12,760 Speaker 11: So that's a part of it. And also he didn't 476 00:23:12,760 --> 00:23:15,639 Speaker 11: want to do anything to embarrass President Erdowan, who was 477 00:23:15,680 --> 00:23:18,720 Speaker 11: hosting this summit. So for a number of reasons, this 478 00:23:18,920 --> 00:23:20,640 Speaker 11: was going to be a good NATO summing. It turned 479 00:23:20,680 --> 00:23:23,159 Speaker 11: out to be a very good one. Now, with respect 480 00:23:23,200 --> 00:23:25,320 Speaker 11: to President Zelenski, I think that's part of it. He 481 00:23:25,359 --> 00:23:28,640 Speaker 11: does respect a winner. Remember a year and a half 482 00:23:28,680 --> 00:23:31,719 Speaker 11: ago when President Zelensky was in the Oval Office and 483 00:23:31,760 --> 00:23:34,560 Speaker 11: President Trump said, you don't have any cards, Well, that 484 00:23:34,680 --> 00:23:37,199 Speaker 11: is not true. It wasn't true then, but it's certainly 485 00:23:37,280 --> 00:23:41,720 Speaker 11: visibly not true now. President Zelenski has an advantage over 486 00:23:41,800 --> 00:23:46,359 Speaker 11: Russia when it comes to drones, counter drones, electronic warfare, 487 00:23:46,800 --> 00:23:52,600 Speaker 11: defense technology, and innovation logistics, many things that he is doing. 488 00:23:52,720 --> 00:23:54,560 Speaker 12: That Putin is not able to do. 489 00:23:54,880 --> 00:23:57,720 Speaker 11: And by bringing the long range strikes into Russia at 490 00:23:57,800 --> 00:24:00,720 Speaker 11: hitting Russia's source of money, which is the oil and 491 00:24:00,760 --> 00:24:04,600 Speaker 11: gas industry and their ability to refine to provide fuel 492 00:24:04,840 --> 00:24:07,280 Speaker 11: both for the Russian people but also for the military, 493 00:24:07,520 --> 00:24:10,359 Speaker 11: this is having a real impact on the finances and 494 00:24:10,400 --> 00:24:13,840 Speaker 11: the military of Russia. So it is changing the dynamic 495 00:24:13,880 --> 00:24:18,200 Speaker 11: there and I think President Zelenski himself also has learned 496 00:24:18,240 --> 00:24:21,520 Speaker 11: a lot about how to deal with President Trump. In 497 00:24:21,560 --> 00:24:24,000 Speaker 11: that meeting again a year and a half ago, seemed 498 00:24:24,040 --> 00:24:27,080 Speaker 11: like he was trying to argue and convince President Trump 499 00:24:27,160 --> 00:24:30,800 Speaker 11: and Jade Vance that he's right, that's not something that 500 00:24:30,840 --> 00:24:33,000 Speaker 11: you want to do and not something you certainly don't 501 00:24:33,000 --> 00:24:35,560 Speaker 11: want to do on camera and disagree in public with 502 00:24:35,680 --> 00:24:40,399 Speaker 11: President Trump. This time it was clear that he was disciplined. 503 00:24:40,720 --> 00:24:42,560 Speaker 11: He didn't want to talk too much in public. They 504 00:24:42,600 --> 00:24:44,840 Speaker 11: were going to have their private meeting. He wanted it 505 00:24:44,840 --> 00:24:47,280 Speaker 11: to be a positive tone. He joked a little bit. 506 00:24:47,600 --> 00:24:49,399 Speaker 11: That's the right way to handle things. 507 00:24:49,359 --> 00:24:52,320 Speaker 2: And possibly due to some coaching Bison NATO allies, including 508 00:24:52,359 --> 00:24:55,119 Speaker 2: Mark Ruta, who got some flak from a reporter asking 509 00:24:55,160 --> 00:24:58,760 Speaker 2: how he maintains his self respect by this appeasement policy. 510 00:24:58,800 --> 00:25:00,960 Speaker 2: But to your point, DoD C to be working. I 511 00:25:01,000 --> 00:25:03,119 Speaker 2: want to ask you about those cards that Ukraine now 512 00:25:03,160 --> 00:25:05,840 Speaker 2: feels it has. There's a very interesting video this week 513 00:25:05,920 --> 00:25:09,120 Speaker 2: of a multimillion dollar Russian tank abandoned by its crew, 514 00:25:09,200 --> 00:25:11,920 Speaker 2: hatches left open, and one hundred and fifty dollars Ukrainian 515 00:25:12,000 --> 00:25:14,719 Speaker 2: drone flying in and destroying it. When you look at 516 00:25:14,720 --> 00:25:18,440 Speaker 2: the asymmetric cost of this warfare, I'm wondering how long 517 00:25:18,480 --> 00:25:20,800 Speaker 2: that's sustainable for Russia. And the other part of this is, 518 00:25:20,840 --> 00:25:23,760 Speaker 2: of course the hits on the oil refineries and the 519 00:25:23,760 --> 00:25:26,520 Speaker 2: gas lines in Moscow, because Russia has been able to 520 00:25:26,520 --> 00:25:29,520 Speaker 2: insulate itself pretty well from the impact of those sanctions 521 00:25:29,560 --> 00:25:32,400 Speaker 2: and being kicked off with possibly better than people expected. 522 00:25:32,960 --> 00:25:34,600 Speaker 2: Is this really where we're going to start to see 523 00:25:34,640 --> 00:25:36,160 Speaker 2: an impact on the economy. 524 00:25:37,560 --> 00:25:41,800 Speaker 11: Yes, you're absolutely right. So those are the factors, and 525 00:25:41,840 --> 00:25:44,200 Speaker 11: you put it the right way. It's how long can 526 00:25:44,240 --> 00:25:48,000 Speaker 11: Russia do this? It is not sustainable. You can't lose 527 00:25:48,040 --> 00:25:51,600 Speaker 11: more people on the battlefield than you can recruit. You 528 00:25:51,640 --> 00:25:55,879 Speaker 11: can't spend more money than you have. At some point, 529 00:25:56,200 --> 00:25:59,159 Speaker 11: this is going to you know, this is going to 530 00:25:59,160 --> 00:26:02,600 Speaker 11: have to stop. What Ukraine is doing is trying to 531 00:26:02,640 --> 00:26:05,520 Speaker 11: accelerate the timeline and say we've got to get Russia 532 00:26:05,680 --> 00:26:08,439 Speaker 11: to the point of decision where they say, okay, we 533 00:26:08,520 --> 00:26:11,480 Speaker 11: have to stop this. Russia is not there. Putin is 534 00:26:11,480 --> 00:26:14,400 Speaker 11: not there. Putin really wants to continue the war. He 535 00:26:14,480 --> 00:26:17,600 Speaker 11: really wants to subjugate Ukraine to Russia. He's going to 536 00:26:17,680 --> 00:26:20,520 Speaker 11: keep fighting. He probably wants to have another shot at 537 00:26:20,560 --> 00:26:23,200 Speaker 11: the winter. Remember last winter they tried to shut off 538 00:26:23,280 --> 00:26:27,000 Speaker 11: Ukraine's electricity. They probably want to do that again and 539 00:26:27,080 --> 00:26:28,920 Speaker 11: see if they can bring Ukraine down. 540 00:26:29,320 --> 00:26:30,160 Speaker 12: It's not going to work. 541 00:26:30,200 --> 00:26:32,800 Speaker 11: I think Ukraine's in a stronger position this winter than 542 00:26:32,920 --> 00:26:36,399 Speaker 11: last winter. But Putin may want to try that. The 543 00:26:36,480 --> 00:26:38,240 Speaker 11: idea is shortening the timeline. 544 00:26:38,320 --> 00:26:39,399 Speaker 12: And this is why. 545 00:26:39,640 --> 00:26:44,320 Speaker 11: Measures steps, decisions such as letting Ukraine produce its own 546 00:26:44,320 --> 00:26:47,679 Speaker 11: patriot missiles, such as the European Union giving them a 547 00:26:47,760 --> 00:26:51,600 Speaker 11: ninety billion euro alone for defense, those things are signals 548 00:26:51,640 --> 00:26:54,359 Speaker 11: to Putin that the future is going to be worse, 549 00:26:54,400 --> 00:26:55,399 Speaker 11: not better for Russia. 550 00:26:55,600 --> 00:26:57,000 Speaker 3: As we have about a minute left, I just want 551 00:26:57,000 --> 00:26:58,600 Speaker 3: to ask about the council you'd give the president on 552 00:26:58,640 --> 00:27:01,200 Speaker 3: engagement with President Putin. In the run up to this summit, 553 00:27:01,240 --> 00:27:04,439 Speaker 3: he had an eighty five minute phone call with Vladimir Putin. 554 00:27:05,080 --> 00:27:07,359 Speaker 3: Would you counsel more engagement less of How do you 555 00:27:07,359 --> 00:27:10,640 Speaker 3: see this kind of ending if in a diplomatic space. 556 00:27:12,160 --> 00:27:15,080 Speaker 11: Right, Well, President Trump talks to Vladimir Putin. You know 557 00:27:15,119 --> 00:27:17,040 Speaker 11: that's a choice. He thinks it's important to have a 558 00:27:17,119 --> 00:27:19,840 Speaker 11: channel of dialogue. I think he has begun to realize 559 00:27:19,840 --> 00:27:22,719 Speaker 11: that Putin lies to him all the time. That Putin 560 00:27:22,800 --> 00:27:25,679 Speaker 11: says one thing about the battlefield, it's not true. He 561 00:27:25,720 --> 00:27:27,880 Speaker 11: says he wants peace, but then he goes and kills 562 00:27:27,960 --> 00:27:31,840 Speaker 11: Ukrainian civilians. So he says he wants to negotiate, but 563 00:27:31,880 --> 00:27:33,920 Speaker 11: then you try to create a negotiation and he won't 564 00:27:33,920 --> 00:27:37,280 Speaker 11: meet with Zelenski and he won't give up anything. He 565 00:27:37,359 --> 00:27:40,000 Speaker 11: just wants even more in the negotiation than he has 566 00:27:40,040 --> 00:27:42,160 Speaker 11: on the ground. So I think President Trump has gotten 567 00:27:42,240 --> 00:27:44,960 Speaker 11: very frustrated with Putin for really not playing it straight. 568 00:27:45,480 --> 00:27:47,560 Speaker 2: All right, Ambassador Kurt Walker, thank you so much for 569 00:27:47,640 --> 00:27:52,480 Speaker 2: joining us. We appreciate your insight on this Sunday. Stay 570 00:27:52,520 --> 00:27:54,440 Speaker 2: with us for more on Bloomberg this weekend. 571 00:27:54,640 --> 00:28:08,840 Speaker 3: Right after this, well, five of the largest US banks 572 00:28:08,840 --> 00:28:10,960 Speaker 3: are set to release earnings on Tuesday, on a day 573 00:28:11,040 --> 00:28:14,840 Speaker 3: so busy even Mike Mayo, Wall Streets swollest bank analyst. 574 00:28:15,200 --> 00:28:15,920 Speaker 8: Is skipping the gym. 575 00:28:15,920 --> 00:28:18,840 Speaker 3: Bank of America, JP, Morgan, Chase, Wells, Fargo, Goldmen, Sacks, 576 00:28:18,920 --> 00:28:22,720 Speaker 3: and City will all release their earnings within the same hour. 577 00:28:22,840 --> 00:28:24,520 Speaker 2: I feel like this is an inside joke to which 578 00:28:24,560 --> 00:28:26,600 Speaker 2: I'm not for which I'm not ready at all Right, 579 00:28:26,640 --> 00:28:28,639 Speaker 2: all right, all right, and lettered in the week for 580 00:28:28,720 --> 00:28:31,320 Speaker 2: more for the more sedentary among us. Later in the week, 581 00:28:31,359 --> 00:28:33,520 Speaker 2: Netflix is going to kick off tech earnings. The streaming 582 00:28:33,520 --> 00:28:37,440 Speaker 2: platform is struggling with slowing growth and increasingly fragmented industry. 583 00:28:37,760 --> 00:28:40,800 Speaker 2: Joining us now our Bloomberg Intelligence senior analyst for US banks, 584 00:28:40,800 --> 00:28:44,200 Speaker 2: Herman Chan, and the editor of Investipedia, Caleb Silver. 585 00:28:44,240 --> 00:28:47,360 Speaker 8: All Right, Mike Mayo, known weightlifter, Bobbyist. 586 00:28:47,680 --> 00:28:49,800 Speaker 2: So it's the The fact that he's skipping the gym 587 00:28:50,480 --> 00:28:51,920 Speaker 2: indicates how big this is. 588 00:28:52,840 --> 00:28:55,560 Speaker 8: The secondary Herman is the second Swolest on Wall Street. 589 00:28:55,760 --> 00:28:58,120 Speaker 13: I'll take that, yes, please, thank you very much. 590 00:28:59,120 --> 00:29:01,440 Speaker 7: I'm going to Bury's after family. 591 00:29:01,720 --> 00:29:03,560 Speaker 2: First, I'm going to take a nap, all right, but 592 00:29:03,600 --> 00:29:06,440 Speaker 2: you go work out do we always get these all 593 00:29:06,480 --> 00:29:09,480 Speaker 2: at once? And I was reading some analysis from Bloomberg, 594 00:29:09,520 --> 00:29:12,880 Speaker 2: which I do now breed bank analysis, saying that it's 595 00:29:12,960 --> 00:29:14,840 Speaker 2: expected to be good but not amazing. 596 00:29:14,960 --> 00:29:16,000 Speaker 8: Why is that right? 597 00:29:16,080 --> 00:29:18,920 Speaker 13: So banks typically try to stagger their earnings, but for 598 00:29:18,960 --> 00:29:22,480 Speaker 13: some reason this earnings calendar, there's five in one day, 599 00:29:22,600 --> 00:29:26,120 Speaker 13: and Bank of America and JP Morgan have competing earnings 600 00:29:26,120 --> 00:29:28,800 Speaker 13: call times at the same time on Tuesday. So yeah, 601 00:29:28,840 --> 00:29:31,520 Speaker 13: it's great for US bank analysts trying to listen to 602 00:29:31,560 --> 00:29:34,600 Speaker 13: two earnings calls at the same time. But we're expecting 603 00:29:34,600 --> 00:29:37,400 Speaker 13: really strong results overall for the banking sector this quarter. 604 00:29:37,960 --> 00:29:40,920 Speaker 13: Banks have really strugged off some of these geo economic 605 00:29:41,080 --> 00:29:44,200 Speaker 13: issues and the case shaped economy that we continue to 606 00:29:44,240 --> 00:29:48,000 Speaker 13: hear about. There's really strong earnings power, both on the 607 00:29:48,000 --> 00:29:50,480 Speaker 13: trading side, the investment banking side, and on the lending 608 00:29:50,480 --> 00:29:53,200 Speaker 13: side of your typical bread and butter commercial lending is 609 00:29:53,240 --> 00:29:55,920 Speaker 13: really strong, so about twenty percent year over year gross. 610 00:29:56,720 --> 00:29:59,560 Speaker 13: So yeah, we're looking for really good results overall. 611 00:30:00,000 --> 00:30:02,360 Speaker 3: Hey, let me ask you just about the role that 612 00:30:02,680 --> 00:30:04,480 Speaker 3: SpaceX is going to play in all of this. So 613 00:30:04,560 --> 00:30:06,959 Speaker 3: for so many weeks we were focused on SpaceX's debut 614 00:30:07,000 --> 00:30:09,320 Speaker 3: on Wall Street. Know that Goldman and Morgan we're kind 615 00:30:09,320 --> 00:30:11,959 Speaker 3: of running that ipo, But I don't think that there 616 00:30:12,000 --> 00:30:14,040 Speaker 3: was a major firm on Wall Street that wasn't involved somehow. 617 00:30:14,160 --> 00:30:16,440 Speaker 3: Is that going to be manifesting these results as we 618 00:30:16,480 --> 00:30:16,840 Speaker 3: see them. 619 00:30:16,880 --> 00:30:18,280 Speaker 7: Yeah, everyone has a piece of it. 620 00:30:18,320 --> 00:30:20,360 Speaker 14: And that's just some of the activity that went on 621 00:30:20,400 --> 00:30:23,080 Speaker 14: that's going to help their bottom lines. The M and 622 00:30:23,120 --> 00:30:25,960 Speaker 14: A activity, just the trading activity, which has been pretty 623 00:30:26,040 --> 00:30:28,840 Speaker 14: robust among institutions. That's going to be good for banks too. 624 00:30:28,840 --> 00:30:30,640 Speaker 14: I think what we want to hear is how healthy 625 00:30:30,720 --> 00:30:33,040 Speaker 14: is the consumer Bank of America. City'll give us a 626 00:30:33,040 --> 00:30:35,360 Speaker 14: pretty good wind new on that wells as well, but 627 00:30:35,400 --> 00:30:37,920 Speaker 14: also the net interest margins. We know our interest rates are, 628 00:30:37,960 --> 00:30:39,520 Speaker 14: we know where they're probably going to be for the 629 00:30:39,560 --> 00:30:41,960 Speaker 14: next few months. What does that mean for bank profitability? 630 00:30:41,960 --> 00:30:45,240 Speaker 14: And overall, what is the health of businesses and borrowers? 631 00:30:45,680 --> 00:30:48,720 Speaker 2: Herman, what are some of the concerns folks have with 632 00:30:48,800 --> 00:30:51,520 Speaker 2: these larger banks. I was doing this morning that investors 633 00:30:51,520 --> 00:30:54,040 Speaker 2: want assurances they can kind of keep this momentum going 634 00:30:54,040 --> 00:30:57,200 Speaker 2: in light of AI valuations, higher gas prices, and also 635 00:30:57,240 --> 00:31:00,480 Speaker 2: we had this big kerfuffle about private credit that not 636 00:31:00,920 --> 00:31:01,760 Speaker 2: are we not worried. 637 00:31:01,520 --> 00:31:04,480 Speaker 5: About that anymore? I look so much time learning about 638 00:31:04,520 --> 00:31:06,400 Speaker 5: private credit, is that is that all or not? 639 00:31:06,720 --> 00:31:10,360 Speaker 13: It's something that's still lingering on the sideline. So it's 640 00:31:10,360 --> 00:31:14,040 Speaker 13: something that it's a big growth driver. I mentioned the 641 00:31:14,080 --> 00:31:16,960 Speaker 13: commercial lending growth. The private credit side of things is 642 00:31:17,040 --> 00:31:20,360 Speaker 13: driving a lot of that. That being said, banks gave 643 00:31:21,160 --> 00:31:24,840 Speaker 13: really heavy assurances in the prior earnings court earning season 644 00:31:24,960 --> 00:31:28,640 Speaker 13: that they're very comfortable with their exposure to private credits. 645 00:31:29,240 --> 00:31:33,000 Speaker 13: They've underwritten it very conservatively, and it would take a 646 00:31:33,040 --> 00:31:36,120 Speaker 13: lot of decline in the overall well market and you 647 00:31:36,160 --> 00:31:39,320 Speaker 13: would be more concerned about the overall economy rather than 648 00:31:39,360 --> 00:31:40,880 Speaker 13: their private credit exposure. 649 00:31:41,320 --> 00:31:43,160 Speaker 7: So we have that going on. 650 00:31:43,240 --> 00:31:45,440 Speaker 13: The other risk that we're looking at is really on 651 00:31:45,480 --> 00:31:48,640 Speaker 13: the deposit side. Given the fact that there's expected so 652 00:31:48,720 --> 00:31:52,560 Speaker 13: much robus lending, that deposit competition that's really intensified, so 653 00:31:52,640 --> 00:31:57,800 Speaker 13: their funding costs would would presumably increase. Given the fact 654 00:31:57,840 --> 00:32:01,520 Speaker 13: that we're not really expecting any more interest rate cuts 655 00:32:02,040 --> 00:32:05,280 Speaker 13: over the back half of this year, that really contrasts 656 00:32:05,600 --> 00:32:08,760 Speaker 13: expectations heading into twenty twenty six, where there was two 657 00:32:08,840 --> 00:32:12,240 Speaker 13: rate cuts maked in so there's an evolving interest rate 658 00:32:12,320 --> 00:32:15,560 Speaker 13: backdrop that could affect banks managers margins going forward. 659 00:32:15,760 --> 00:32:17,360 Speaker 3: We want to get into Netflix. But before we do that, 660 00:32:17,360 --> 00:32:18,920 Speaker 3: I have a question for each of you I'd love 661 00:32:18,920 --> 00:32:21,080 Speaker 3: to eat you to answer, and that is we get 662 00:32:21,080 --> 00:32:24,280 Speaker 3: to hear from these bank executives over a speakerphone on 663 00:32:24,320 --> 00:32:25,520 Speaker 3: Tuesday and Wednesday. 664 00:32:25,600 --> 00:32:27,800 Speaker 8: Yes, with with Morgan. But Caleb, what do you take 665 00:32:27,840 --> 00:32:28,360 Speaker 8: away from that? 666 00:32:28,440 --> 00:32:30,120 Speaker 3: I mean, what are you listening for when you hear 667 00:32:30,120 --> 00:32:33,000 Speaker 3: these executives talk? Do you appreciate kind of their vantage, 668 00:32:33,040 --> 00:32:35,760 Speaker 3: their perspective on geopolitics broadly? Do you want to hear 669 00:32:35,760 --> 00:32:38,280 Speaker 3: more grandal information about the banks? What do you want 670 00:32:38,280 --> 00:32:39,680 Speaker 3: to hear from these executives on Tuesday? 671 00:32:39,720 --> 00:32:39,960 Speaker 7: Yeah? 672 00:32:40,000 --> 00:32:42,800 Speaker 14: Some CEOs are more candid than others. Jamie Diamond among them. 673 00:32:42,840 --> 00:32:45,680 Speaker 14: Notoriously candid, and he will tell you exactly what he 674 00:32:45,760 --> 00:32:47,720 Speaker 14: thinks and exactly how the bank sees things. I heard 675 00:32:47,800 --> 00:32:49,920 Speaker 14: him at the Reagan Economic Forum a few weeks ago, 676 00:32:50,040 --> 00:32:53,880 Speaker 14: super candid, but also saying America needs to be strong defensively, 677 00:32:54,080 --> 00:32:56,520 Speaker 14: we also need to make sure we are taking care 678 00:32:56,600 --> 00:32:57,240 Speaker 14: of our people. 679 00:32:57,280 --> 00:32:58,880 Speaker 7: So he cares about both of those things. 680 00:32:59,000 --> 00:33:02,120 Speaker 14: There's also run about who is the succession plan at 681 00:33:02,200 --> 00:33:02,800 Speaker 14: JP Morgan. 682 00:33:02,840 --> 00:33:04,280 Speaker 7: I don't think we're going to hear anything about that 683 00:33:04,360 --> 00:33:04,720 Speaker 7: this week. 684 00:33:04,760 --> 00:33:06,800 Speaker 14: He's still got some time in the seat, so he's 685 00:33:06,840 --> 00:33:08,840 Speaker 14: a little bit more candidate. But again, we want to 686 00:33:08,880 --> 00:33:12,320 Speaker 14: know how strong are their customers, how robust is the 687 00:33:12,400 --> 00:33:15,200 Speaker 14: lending going to be, as Herman mentioned, but also how 688 00:33:15,240 --> 00:33:17,680 Speaker 14: strong is the US economy, especially when it comes to 689 00:33:17,720 --> 00:33:18,800 Speaker 14: consumers and their spending. 690 00:33:18,840 --> 00:33:20,080 Speaker 8: Herman, how about you? What are you listening for? 691 00:33:20,320 --> 00:33:24,040 Speaker 13: Yeah, so that's right. Jamie Diamond's always been sort of 692 00:33:24,080 --> 00:33:26,680 Speaker 13: the spokesperson for the industry. We'd love to hear more 693 00:33:26,720 --> 00:33:29,880 Speaker 13: about the evolving backdrop, given the fact that we still 694 00:33:29,920 --> 00:33:33,680 Speaker 13: have gebile little tensions where the economy is going forward, 695 00:33:33,720 --> 00:33:37,400 Speaker 13: and then the succession issue that Mary and Lake recently 696 00:33:37,680 --> 00:33:41,680 Speaker 13: stepped away from the bank and there's two new CO presidents, 697 00:33:42,320 --> 00:33:45,640 Speaker 13: so and then really the eyes are on toy Burbo, 698 00:33:45,960 --> 00:33:48,920 Speaker 13: who is going to lead the consumer operations going forward? 699 00:33:49,560 --> 00:33:51,959 Speaker 13: Is he going is he viewed as the heir apparent 700 00:33:52,240 --> 00:33:54,360 Speaker 13: in Jamie Diamond's minds. I'm sure a lot of analysts 701 00:33:54,360 --> 00:33:55,680 Speaker 13: will probe that thought. 702 00:33:55,760 --> 00:33:57,600 Speaker 3: Just to interergect quickly hearing this is like the longest 703 00:33:57,640 --> 00:33:58,960 Speaker 3: running parlor game on Wall Street. 704 00:33:59,000 --> 00:34:00,640 Speaker 8: Right now, one is Jamie Diamond going to step. 705 00:34:00,480 --> 00:34:02,920 Speaker 3: Down, and he said, does this latest move give you 706 00:34:02,960 --> 00:34:04,880 Speaker 3: any indication of how much closer we are to that point? 707 00:34:04,920 --> 00:34:07,440 Speaker 3: I mean he is often asked about this, Jamie Diamond, 708 00:34:07,440 --> 00:34:09,319 Speaker 3: and he is very quick to ju mirror and say 709 00:34:09,400 --> 00:34:10,320 Speaker 3: which he loves his job. 710 00:34:10,280 --> 00:34:13,560 Speaker 13: Right, I would assume that we'll have more of that 711 00:34:13,680 --> 00:34:16,120 Speaker 13: same reframe where he's going to say he's in that 712 00:34:16,239 --> 00:34:19,000 Speaker 13: for the next, you know, foreseeable future. That being said, 713 00:34:19,000 --> 00:34:22,000 Speaker 13: successful planning is something that the board and the bank 714 00:34:22,600 --> 00:34:25,320 Speaker 13: takes very seriously, and I think the two co presidents 715 00:34:25,360 --> 00:34:26,160 Speaker 13: really speaks to that. 716 00:34:26,800 --> 00:34:28,400 Speaker 2: All Right, Caleb, I do want to get to a Netflix. 717 00:34:28,520 --> 00:34:31,360 Speaker 2: It's usually the start of tech earning seasons. How is 718 00:34:31,360 --> 00:34:33,799 Speaker 2: Netflix doing? Because as a consumer, I feel like they're 719 00:34:33,800 --> 00:34:35,640 Speaker 2: having a bit of an identity crisis. Right When I 720 00:34:35,680 --> 00:34:38,160 Speaker 2: think of like really prestige streaming, I don't think of them. 721 00:34:38,360 --> 00:34:41,120 Speaker 2: When I think of like the CSI audience that my 722 00:34:41,239 --> 00:34:43,440 Speaker 2: parents watch, I don't really think of them either. I 723 00:34:43,480 --> 00:34:45,760 Speaker 2: don't really know what their brand is and I wonder 724 00:34:45,800 --> 00:34:48,000 Speaker 2: if that's part of the problem as they're struggling to 725 00:34:48,320 --> 00:34:50,960 Speaker 2: maintain consumers to stop churn and to come out where 726 00:34:51,000 --> 00:34:52,000 Speaker 2: investors want them to be. 727 00:34:52,200 --> 00:34:54,520 Speaker 14: Yeah, things have been anything but chill with Netflix and 728 00:34:54,560 --> 00:34:55,160 Speaker 14: its investors. 729 00:34:55,280 --> 00:34:56,600 Speaker 5: Star Well Done is. 730 00:34:56,600 --> 00:34:59,560 Speaker 14: Down twenty percent, You're to date down forty percent over 731 00:34:59,600 --> 00:35:02,640 Speaker 14: the past. Not magnificent by any means anymore. But it 732 00:35:02,680 --> 00:35:05,279 Speaker 14: is changing the way it runs its programming. It's got 733 00:35:05,320 --> 00:35:07,960 Speaker 14: some challenges and that it's got competition, but it also 734 00:35:08,160 --> 00:35:11,400 Speaker 14: is now has introduced that advertising platform. How much is 735 00:35:11,440 --> 00:35:14,400 Speaker 14: that growing? They're expecting some three billion dollars from that. 736 00:35:14,400 --> 00:35:16,520 Speaker 14: That costs about I think eight or nine dollars if 737 00:35:16,520 --> 00:35:19,040 Speaker 14: you want the ad chaired program. They're able to raise prices. 738 00:35:19,040 --> 00:35:21,800 Speaker 14: They have that pricing elasticity. They're able to raise prices 739 00:35:21,840 --> 00:35:24,359 Speaker 14: pretty much a dollar every year and not much churm 740 00:35:24,440 --> 00:35:27,719 Speaker 14: probably the lowest among the streamers, and now they're introducing 741 00:35:27,719 --> 00:35:28,960 Speaker 14: a lot of short form programming. 742 00:35:28,960 --> 00:35:30,560 Speaker 7: They're no longer really just a streamer. 743 00:35:30,600 --> 00:35:33,160 Speaker 14: They are a global media platform and they're trying to 744 00:35:33,160 --> 00:35:34,000 Speaker 14: compete with YouTube. 745 00:35:34,040 --> 00:35:35,520 Speaker 2: But do you feel like they have enough of a 746 00:35:35,600 --> 00:35:37,839 Speaker 2: strategy or do you feel like they're just throwing things 747 00:35:37,840 --> 00:35:38,760 Speaker 2: at the wall at this point. 748 00:35:38,880 --> 00:35:40,839 Speaker 14: Well, over the last couple of weeks, we've learned more 749 00:35:40,880 --> 00:35:45,440 Speaker 14: about that strategy. They've started short form programming. They started 750 00:35:45,480 --> 00:35:49,600 Speaker 14: a bunch of deals with very popular podcasters, the Bill Simmons, Ringer, 751 00:35:49,840 --> 00:35:53,520 Speaker 14: the Universes in there as well. Hot Ones is there 752 00:35:53,520 --> 00:35:55,720 Speaker 14: as well. They signed some chefs to do some short 753 00:35:55,719 --> 00:35:57,719 Speaker 14: form content. So they want to make sure they are 754 00:35:57,760 --> 00:36:01,520 Speaker 14: not losing viewers who want that order forms snackable content. 755 00:36:01,840 --> 00:36:03,360 Speaker 7: And they're still building their library. 756 00:36:03,360 --> 00:36:05,759 Speaker 14: They have a big slate coming out, including Narnia coming 757 00:36:05,760 --> 00:36:07,160 Speaker 14: out later this year, and a bunch of. 758 00:36:07,120 --> 00:36:09,600 Speaker 7: Other big ticket movies, so they're trying to be everything, 759 00:36:09,640 --> 00:36:10,799 Speaker 7: spending a lot of money doing it. 760 00:36:10,960 --> 00:36:13,600 Speaker 3: I want to ask you about their strategy toward acquisitions. 761 00:36:13,600 --> 00:36:15,160 Speaker 3: So it wasn't long ago they were making a go 762 00:36:15,320 --> 00:36:18,560 Speaker 3: for Warner Brothers Discovery. Of course that fell apart. We 763 00:36:18,640 --> 00:36:21,000 Speaker 3: now see the spin off at NBCUniversal and Comcast. I 764 00:36:21,000 --> 00:36:23,359 Speaker 3: mean they didn't make a play for Roku. I mean, 765 00:36:23,880 --> 00:36:26,320 Speaker 3: how do you see their interest in expanding the business 766 00:36:26,360 --> 00:36:28,480 Speaker 3: through murders and acquisitions, if at all? I mean, once 767 00:36:28,480 --> 00:36:30,640 Speaker 3: that deal fell through, I think there was some relief 768 00:36:30,640 --> 00:36:33,920 Speaker 3: among shareholders, among many shareholders, What did it say to 769 00:36:33,960 --> 00:36:35,560 Speaker 3: you about their kind of longer term trajectory. 770 00:36:35,600 --> 00:36:38,359 Speaker 14: Well, the good news is that Netflix executives give long 771 00:36:38,440 --> 00:36:41,480 Speaker 14: video interviews every earnings report, so I listened to it 772 00:36:41,480 --> 00:36:43,360 Speaker 14: again last night from the last quarter. They said it 773 00:36:43,360 --> 00:36:45,600 Speaker 14: didn't work out, but they learned a lot about M 774 00:36:45,640 --> 00:36:47,360 Speaker 14: and A and how disciplined they want to be and 775 00:36:47,400 --> 00:36:50,239 Speaker 14: what matters to them when it comes to making big investments. 776 00:36:50,320 --> 00:36:52,040 Speaker 14: They have a lot of cash on hand right now, 777 00:36:52,160 --> 00:36:54,960 Speaker 14: and they need to do something beyond adding these creatives 778 00:36:54,960 --> 00:36:55,520 Speaker 14: and adding. 779 00:36:55,320 --> 00:36:56,520 Speaker 7: Their short form programming. 780 00:36:56,560 --> 00:36:59,040 Speaker 14: I wouldn't be surprised to see an acquisition in the 781 00:36:59,040 --> 00:37:01,360 Speaker 14: second half of this year or early next year, because 782 00:37:01,480 --> 00:37:04,640 Speaker 14: investors want to see, really what's next beyond short YouTube 783 00:37:04,640 --> 00:37:07,080 Speaker 14: clips and adding podcasting to the platform. 784 00:37:07,239 --> 00:37:08,920 Speaker 5: Herman to bring it back where we started. 785 00:37:09,600 --> 00:37:12,040 Speaker 2: When we get these earnings reports, we usually get a 786 00:37:12,160 --> 00:37:15,279 Speaker 2: macro look when you go through them. When we get 787 00:37:15,320 --> 00:37:16,920 Speaker 2: big bank Day and none of us are working out 788 00:37:16,960 --> 00:37:18,560 Speaker 2: and we're all on these calls, and by we I 789 00:37:18,600 --> 00:37:21,040 Speaker 2: definitely mean you guys, what are you going to be 790 00:37:21,080 --> 00:37:23,200 Speaker 2: looking for? I think specific that we should be watching 791 00:37:23,239 --> 00:37:25,040 Speaker 2: for that I can steal later in the weekend to 792 00:37:25,040 --> 00:37:26,320 Speaker 2: make it sound like I'm smart. 793 00:37:26,239 --> 00:37:28,319 Speaker 13: Right, So a lot of it's going to be what 794 00:37:28,360 --> 00:37:32,480 Speaker 13: they say about the economy right heading into this quarter. 795 00:37:32,560 --> 00:37:36,319 Speaker 13: There's a lot of enthusiasm into the earnings, but one 796 00:37:36,320 --> 00:37:38,920 Speaker 13: of the pieces of that enthusiasm is that the credit 797 00:37:39,000 --> 00:37:42,399 Speaker 13: quality performance of the banks will be very stable. How 798 00:37:42,520 --> 00:37:44,960 Speaker 13: that really shapes up going forward. A lot of the 799 00:37:45,000 --> 00:37:47,920 Speaker 13: analysts will probe about that given the fact that there 800 00:37:48,000 --> 00:37:51,400 Speaker 13: is still a lot of restling energy prices are still high. 801 00:37:51,600 --> 00:37:54,880 Speaker 13: You've had companies talk about consumers pulling back in certain 802 00:37:54,880 --> 00:37:57,880 Speaker 13: areas of discretionary spending because of the high energy prices. 803 00:37:57,960 --> 00:38:00,399 Speaker 13: How does that flow through into the banks in terms 804 00:38:00,400 --> 00:38:03,480 Speaker 13: of customers and consumers paying back their credit cards and 805 00:38:03,480 --> 00:38:04,880 Speaker 13: their mortgage. So we'll be looking. 806 00:38:04,719 --> 00:38:07,040 Speaker 3: Forward to that last question to you Hermann picking up 807 00:38:07,040 --> 00:38:08,720 Speaker 3: on what Cable was saying a moment, we're talking about 808 00:38:09,040 --> 00:38:12,640 Speaker 3: prospect from mergers and acquisitions. We've had the SpaceX ipo 809 00:38:13,640 --> 00:38:16,880 Speaker 3: s K Heinez had its listing on Nasdaq on on Friday. 810 00:38:17,880 --> 00:38:19,440 Speaker 3: Both of those are seen as kind of litmsses for 811 00:38:19,520 --> 00:38:22,440 Speaker 3: how that the market would be for offerings. 812 00:38:22,600 --> 00:38:23,840 Speaker 7: Right, what's your. 813 00:38:23,760 --> 00:38:25,120 Speaker 8: Sense of the verdict on that? I mean, are there 814 00:38:25,120 --> 00:38:26,680 Speaker 8: are a lot of companies you're waiting in the pipeline? 815 00:38:26,760 --> 00:38:30,440 Speaker 13: Yeah, I think that's one of the areas of enthusiasm 816 00:38:30,520 --> 00:38:33,160 Speaker 13: for the banks in particular, where banks are playing the 817 00:38:33,440 --> 00:38:38,840 Speaker 13: AI and infrastructure side of things through their equity offerings, 818 00:38:38,880 --> 00:38:42,800 Speaker 13: through their capital markets businesses and debt underwriting in bonds 819 00:38:42,920 --> 00:38:47,479 Speaker 13: and securitizations cnbs. So these data center financing that needs 820 00:38:47,480 --> 00:38:50,759 Speaker 13: to happen and the capex that needs to be spent 821 00:38:50,920 --> 00:38:53,200 Speaker 13: to build out the data centers. The banks are playing 822 00:38:53,200 --> 00:38:56,960 Speaker 13: that but by helping these companies with raising money. 823 00:38:57,000 --> 00:38:59,280 Speaker 7: So the AI theme is a big. 824 00:38:59,160 --> 00:39:01,600 Speaker 13: Part of the capital market story and we'd expect more 825 00:39:01,719 --> 00:39:03,399 Speaker 13: commentary on that in the second quarter. 826 00:39:03,440 --> 00:39:05,200 Speaker 3: As before we thank you, we need to get a 827 00:39:05,200 --> 00:39:09,719 Speaker 3: shot of Caleb, so for our radio listeners, Caleb wearing 828 00:39:10,200 --> 00:39:14,360 Speaker 3: socks with Bloomberg Terminals terminal song on them, accompanying his vans, 829 00:39:14,360 --> 00:39:17,480 Speaker 3: which is a classy, very silent accommodation. 830 00:39:19,960 --> 00:39:22,239 Speaker 5: No, Gerra has great sneakers too. I'm always telling a 831 00:39:22,239 --> 00:39:22,800 Speaker 5: where sneakers. 832 00:39:23,000 --> 00:39:24,960 Speaker 3: Well, I'm going to covet these socks from here on 833 00:39:25,040 --> 00:39:27,279 Speaker 3: out and find finding which close that they're hidden here 834 00:39:27,280 --> 00:39:27,799 Speaker 3: and pull them out. 835 00:39:27,920 --> 00:39:29,200 Speaker 2: We don't want you to feel left out because you 836 00:39:29,200 --> 00:39:31,760 Speaker 2: guys are both great Burbage and he's our senior analyst 837 00:39:31,760 --> 00:39:33,160 Speaker 2: for US Banks and Caleb. 838 00:39:32,920 --> 00:39:33,880 Speaker 5: Silver from Thevesipedia. 839 00:39:33,920 --> 00:39:35,000 Speaker 8: Thank you guys. 840 00:39:36,440 --> 00:39:40,120 Speaker 4: Stay with us for more on Bloomberg this weekend. Right 841 00:39:40,160 --> 00:39:53,000 Speaker 4: after this, Welcome back. 842 00:39:52,880 --> 00:39:53,720 Speaker 5: To Bloomber this weekend. 843 00:39:53,760 --> 00:39:57,280 Speaker 2: I'm Christina Rafeni alongside David Gerra. Around the world, numerous 844 00:39:57,280 --> 00:40:00,000 Speaker 2: wars and conflicts are destroying the day to day lives 845 00:40:00,080 --> 00:40:03,120 Speaker 2: of many civilians, and one blog has gone to try 846 00:40:03,120 --> 00:40:03,760 Speaker 2: to unite. 847 00:40:04,000 --> 00:40:06,640 Speaker 5: What pulls us all together in these hard times? What 848 00:40:06,760 --> 00:40:08,440 Speaker 5: is that for us? Well, it's food. 849 00:40:08,760 --> 00:40:11,480 Speaker 3: Food under Fire is a blog dedicated to the proposition 850 00:40:11,520 --> 00:40:14,239 Speaker 3: that amazing food can be found on the road, even 851 00:40:14,280 --> 00:40:17,319 Speaker 3: in the farthest flung, craziest corners of the world. You 852 00:40:17,360 --> 00:40:19,040 Speaker 3: sat down with the creator of Food under Fire, that's 853 00:40:19,040 --> 00:40:21,239 Speaker 3: Aaron Lyle, to ask her how she came up with 854 00:40:21,320 --> 00:40:22,240 Speaker 3: this idea for a blog. 855 00:40:22,680 --> 00:40:26,120 Speaker 15: Well, I've been long obsessed with food, obviously, and I 856 00:40:26,200 --> 00:40:29,000 Speaker 15: moved to London twelve years ago for CBS and started 857 00:40:29,280 --> 00:40:31,920 Speaker 15: covering conflicts once I moved here, And one of the 858 00:40:31,920 --> 00:40:34,799 Speaker 15: first conflicts I went to was in Ukraine. It was 859 00:40:35,600 --> 00:40:38,000 Speaker 15: twenty fourteen and the revolution was happening in the Maighton 860 00:40:38,680 --> 00:40:42,440 Speaker 15: and what was amazing about it was it was freezing outside. 861 00:40:42,520 --> 00:40:45,080 Speaker 15: All these people were out there kitted out and colanders 862 00:40:45,120 --> 00:40:48,120 Speaker 15: on their head and mattresses as sort of shields. And 863 00:40:48,320 --> 00:40:50,760 Speaker 15: they were little old ladies wandering around the square, pushing 864 00:40:50,800 --> 00:40:54,640 Speaker 15: around carts of hot soup, handing out hard boiled eggs, 865 00:40:55,200 --> 00:40:58,000 Speaker 15: dishing out big bowls of grains, and I was going, 866 00:40:58,040 --> 00:41:00,120 Speaker 15: oh my god, like, this is how you feed a revolution, 867 00:41:00,280 --> 00:41:03,200 Speaker 15: and it's as fascinating as the actual revolution that we're 868 00:41:03,200 --> 00:41:06,799 Speaker 15: watching here. So I started this food blog because I 869 00:41:06,880 --> 00:41:10,640 Speaker 15: just think I think people generally find it fascinating how 870 00:41:10,640 --> 00:41:13,279 Speaker 15: we feed ourselves, how we bring ourselves comfort, how we 871 00:41:13,320 --> 00:41:17,320 Speaker 15: survive in areas that are under siege, that are difficult 872 00:41:17,360 --> 00:41:20,319 Speaker 15: to live in. And so I started about twelve years ago, 873 00:41:20,600 --> 00:41:23,040 Speaker 15: and now every time I travel, I try to find 874 00:41:23,239 --> 00:41:26,520 Speaker 15: a very specific moment to blog about that will sort 875 00:41:26,520 --> 00:41:28,479 Speaker 15: of shed a bit of light on something we don't 876 00:41:28,480 --> 00:41:31,640 Speaker 15: actually get to cover as we're telling new stories. 877 00:41:31,800 --> 00:41:34,200 Speaker 3: So we've been talking about Ukraine. Give us a favorite 878 00:41:34,200 --> 00:41:37,480 Speaker 3: moment or meal that you've had elsewhere in the world. 879 00:41:38,560 --> 00:41:39,359 Speaker 16: Elsewhere in the world. 880 00:41:39,440 --> 00:41:42,440 Speaker 15: I mean, I've had some amazing experiences in Gaza back 881 00:41:42,600 --> 00:41:47,520 Speaker 15: in twenty fourteen, twenty nineteen, before this current conflict, where 882 00:41:47,520 --> 00:41:51,080 Speaker 15: we got invited into people's homes and all the women cooked. 883 00:41:50,800 --> 00:41:53,480 Speaker 16: For days, you know, giant clatters of meat and rice. 884 00:41:53,560 --> 00:41:56,040 Speaker 15: And it took us to their watermelon form and we 885 00:41:56,160 --> 00:41:58,440 Speaker 15: cut open a fresh watermelon and we ate it with 886 00:41:58,840 --> 00:42:01,840 Speaker 15: sort of those big tins of salty white cheese that 887 00:42:01,880 --> 00:42:05,799 Speaker 15: you'll find in kind of Arabic markets, and some mint 888 00:42:05,880 --> 00:42:08,600 Speaker 15: and some fresh bread. And you know, you sit in 889 00:42:08,640 --> 00:42:11,880 Speaker 15: these environments having this shared experience with people and just 890 00:42:11,960 --> 00:42:14,960 Speaker 15: go oh wow. You know, like life is happening all around. 891 00:42:14,960 --> 00:42:17,239 Speaker 15: It's not just war all the time. It's not just 892 00:42:17,239 --> 00:42:20,239 Speaker 15: destruction that you know. People are sharing themselves, sharing their love. 893 00:42:21,200 --> 00:42:23,560 Speaker 15: And I've been lucky enough to. 894 00:42:23,320 --> 00:42:25,719 Speaker 16: Sort of stumble into those kinds of experiences in most 895 00:42:25,719 --> 00:42:26,480 Speaker 16: of the places we go. 896 00:42:27,120 --> 00:42:30,160 Speaker 2: Do you find that some of the poorest, most destitute places, 897 00:42:30,280 --> 00:42:32,359 Speaker 2: they are the most generous with what they do have 898 00:42:32,400 --> 00:42:35,120 Speaker 2: to offer. I'm always surprised by when you go to 899 00:42:35,120 --> 00:42:37,080 Speaker 2: really wealthy countries that's not the case. And when you 900 00:42:37,080 --> 00:42:38,920 Speaker 2: go to places where you think people are just surviving 901 00:42:39,000 --> 00:42:41,319 Speaker 2: day to day, they're almost always the first ones to 902 00:42:41,320 --> 00:42:42,640 Speaker 2: invite you into their homes. 903 00:42:43,080 --> 00:42:43,279 Speaker 3: Yeah. 904 00:42:43,480 --> 00:42:45,840 Speaker 15: I mean, the Anglo Saxon world is probably the worst 905 00:42:45,880 --> 00:42:49,000 Speaker 15: at this kind of hospitality, But the Middle East Ukraine, 906 00:42:51,080 --> 00:42:53,759 Speaker 15: will go to these places where people have lost so much, 907 00:42:53,760 --> 00:42:55,120 Speaker 15: and it doesn't even have to be war. It could 908 00:42:55,120 --> 00:42:58,520 Speaker 15: be a natural disaster, it could be Haiti and suddenly 909 00:42:58,520 --> 00:42:59,880 Speaker 15: they're cooking everything they. 910 00:42:59,760 --> 00:43:02,480 Speaker 16: Have, they're inviting you to sit at the table, and 911 00:43:02,520 --> 00:43:03,760 Speaker 16: they're giving, they're. 912 00:43:03,600 --> 00:43:05,919 Speaker 15: Giving everything they have, even if it's not a lot, 913 00:43:06,000 --> 00:43:07,839 Speaker 15: and it's I mean, it's such a privilege to get 914 00:43:07,840 --> 00:43:08,960 Speaker 15: to experience. 915 00:43:08,960 --> 00:43:09,840 Speaker 16: Those kind of moments. 916 00:43:09,920 --> 00:43:13,560 Speaker 15: And when I was in Ukraine when the city of 917 00:43:13,560 --> 00:43:17,480 Speaker 15: Harsan was liberated from Russian occupation and we were trying 918 00:43:17,480 --> 00:43:19,360 Speaker 15: to get into the city, we got as far as 919 00:43:19,400 --> 00:43:21,359 Speaker 15: the city limits and then they wouldn't let us in 920 00:43:21,880 --> 00:43:23,960 Speaker 15: and it was too far to drive back. So I 921 00:43:24,120 --> 00:43:27,040 Speaker 15: just stopped this old man in the street and said, 922 00:43:27,080 --> 00:43:29,640 Speaker 15: you know, is there a guesthouse in this village that 923 00:43:29,800 --> 00:43:30,560 Speaker 15: we can stay at? 924 00:43:30,680 --> 00:43:32,560 Speaker 16: And he said, well, you're staying at my house. 925 00:43:32,600 --> 00:43:36,560 Speaker 15: Obviously, we have food, we have blankets, and we have 926 00:43:36,680 --> 00:43:37,879 Speaker 15: lady wine for you. 927 00:43:38,440 --> 00:43:39,040 Speaker 5: Lady wine. 928 00:43:39,120 --> 00:43:41,640 Speaker 16: I mean, I'm sold at wine. But what is lady wine. 929 00:43:41,680 --> 00:43:44,000 Speaker 15: And he's like, well, it's slightly softer for the ladies, 930 00:43:44,000 --> 00:43:45,600 Speaker 15: so it's you know, not too hard for you. 931 00:43:46,040 --> 00:43:46,520 Speaker 8: It's great. 932 00:43:46,840 --> 00:43:49,160 Speaker 15: So we went to their house and this this little 933 00:43:49,200 --> 00:43:52,279 Speaker 15: old couple cooked everything they had in their kitchen, like 934 00:43:52,760 --> 00:43:58,920 Speaker 15: giant bowls of pasta, canned marinated tomatoes and peppers, a 935 00:43:58,920 --> 00:44:02,360 Speaker 15: big bowl of pickled ca abage, little toasts with pork 936 00:44:02,400 --> 00:44:05,520 Speaker 15: fat on them, and slice sausage and more pickles, and 937 00:44:05,520 --> 00:44:09,799 Speaker 15: then giant jugs of homemade Lady wine and vodka. 938 00:44:09,280 --> 00:44:12,560 Speaker 16: And Mantle wine, I guess. And it was just it 939 00:44:12,600 --> 00:44:14,640 Speaker 16: was such an experience because you know, also. 940 00:44:14,400 --> 00:44:18,440 Speaker 15: For them to be able to host people after you know, 941 00:44:18,480 --> 00:44:21,360 Speaker 15: six months of occupation, to be able to unload the 942 00:44:21,440 --> 00:44:23,640 Speaker 15: trauma that they had lived through and have this captive 943 00:44:23,680 --> 00:44:26,680 Speaker 15: audience sharing the moment with them and sharing the joy. 944 00:44:26,800 --> 00:44:29,080 Speaker 16: And I mean, it was one of the highlights of 945 00:44:29,120 --> 00:44:30,439 Speaker 16: my life. Not to mention my work. 946 00:44:30,480 --> 00:44:32,960 Speaker 3: You've been doing this for more than a decade, and 947 00:44:33,000 --> 00:44:35,840 Speaker 3: I'm curious what you've learned about your readers, who's coming 948 00:44:35,840 --> 00:44:37,880 Speaker 3: to you. What kind of interactions have you had with 949 00:44:37,920 --> 00:44:40,480 Speaker 3: folks who are reading your updates and your dispatches on 950 00:44:40,520 --> 00:44:40,920 Speaker 3: your blog. 951 00:44:42,520 --> 00:44:47,040 Speaker 15: I get readers from all over the world, mostly America, UK. 952 00:44:46,800 --> 00:44:48,040 Speaker 16: Because I write in English. 953 00:44:48,280 --> 00:44:51,759 Speaker 15: But I think people really connect to these stories in 954 00:44:51,800 --> 00:44:53,640 Speaker 15: a way that they don't connect to sort of a 955 00:44:53,680 --> 00:44:56,880 Speaker 15: television package about what's going on in a war zone 956 00:44:57,800 --> 00:45:00,200 Speaker 15: because they can put themselves in it. You know, a 957 00:45:00,239 --> 00:45:03,239 Speaker 15: real empathy driver there when you're reading about what it's 958 00:45:03,280 --> 00:45:06,120 Speaker 15: like in someone's home or even house. Soldiers are living 959 00:45:06,160 --> 00:45:07,880 Speaker 15: on the front line. You know, they're living in a trench, 960 00:45:07,920 --> 00:45:10,160 Speaker 15: but in that trench, they've got a makeshift kitchen, they've 961 00:45:10,200 --> 00:45:13,160 Speaker 15: got soup on the stove, they're ladeling out grains, and 962 00:45:13,200 --> 00:45:16,120 Speaker 15: you can like really imagine what it's like to be 963 00:45:16,360 --> 00:45:17,120 Speaker 15: in the situation. 964 00:45:17,239 --> 00:45:19,439 Speaker 16: So I do get a lot of feedback where people 965 00:45:19,520 --> 00:45:20,120 Speaker 16: just go wow. 966 00:45:20,400 --> 00:45:22,839 Speaker 15: And also this in the same vein as you just said, 967 00:45:23,440 --> 00:45:27,200 Speaker 15: people are continually impressed with the generosity and hospitality that 968 00:45:27,600 --> 00:45:28,799 Speaker 15: we stumble into around the world. 969 00:45:28,880 --> 00:45:29,800 Speaker 16: It's beautiful. 970 00:45:29,840 --> 00:45:30,080 Speaker 15: Really. 971 00:45:32,239 --> 00:45:35,160 Speaker 2: Thanks for joining us on today's Bloomberg This Weekend podcast. 972 00:45:35,280 --> 00:45:37,560 Speaker 2: Don't forget to tune in live for the show every 973 00:45:37,560 --> 00:45:40,240 Speaker 2: Saturday and Sunday morning, starting at seven am Eastern. 974 00:45:40,320 --> 00:45:43,320 Speaker 3: We're on Bloomberg Television Radio and the Bloomberg Business App, 975 00:45:43,440 --> 00:45:46,920 Speaker 3: bringing you unique takes and in depth interviews on news, politics, 976 00:45:47,000 --> 00:45:48,240 Speaker 3: lifestyle and culture.