1 00:00:03,120 --> 00:00:07,480 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,280 --> 00:00:11,360 Speaker 2: US Secretary of State Anthony Blincoln is visiting the Middle 3 00:00:11,400 --> 00:00:14,240 Speaker 2: East this week, where he's trying to secure a ceasefire 4 00:00:14,320 --> 00:00:16,760 Speaker 2: and hostage deal between Israel and Hamas. 5 00:00:17,040 --> 00:00:22,200 Speaker 3: This is a decisive moment, probably the best, maybe the 6 00:00:22,280 --> 00:00:26,960 Speaker 3: last opportunity to get the hostages home, to get a ceasefire, 7 00:00:27,400 --> 00:00:31,000 Speaker 3: and to put everyone on a better path to enduring 8 00:00:31,080 --> 00:00:32,280 Speaker 3: peace and security. 9 00:00:32,800 --> 00:00:36,159 Speaker 2: As of Monday afternoon, Blincoln said that Israeli Prime Minister 10 00:00:36,240 --> 00:00:40,479 Speaker 2: Benjamin Nettannah, who had accepted the current proposal Hamas, has 11 00:00:40,560 --> 00:00:43,880 Speaker 2: yet to officially respond. It's been ten months of war 12 00:00:43,960 --> 00:00:47,040 Speaker 2: in Gaza, and according to the Gaza Health Ministry, over 13 00:00:47,159 --> 00:00:51,920 Speaker 2: forty thousand Palestinians are confirmed dead. The entire Gaza Strip 14 00:00:52,120 --> 00:00:56,480 Speaker 2: has been impacted. If an immediate ceasefire and eventual peace 15 00:00:56,520 --> 00:01:00,920 Speaker 2: deal are achieved, the question then becomes, how could the 16 00:01:01,000 --> 00:01:04,240 Speaker 2: Gaza Strip rebuild. To get a sense of what this 17 00:01:04,319 --> 00:01:07,280 Speaker 2: reconstruction could look like and what it might take, we 18 00:01:07,360 --> 00:01:11,119 Speaker 2: reached out to several Bloomberg reporters who've been covering the conflict. 19 00:01:11,360 --> 00:01:14,520 Speaker 2: One of them is Ferres Algol. He's a reporter from 20 00:01:14,560 --> 00:01:17,080 Speaker 2: the Gaza Strip who's now reporting on the war in 21 00:01:17,120 --> 00:01:18,759 Speaker 2: his hometown from Canada. 22 00:01:19,080 --> 00:01:24,080 Speaker 4: I look at the bigtures of the corner stone streets 23 00:01:24,120 --> 00:01:26,840 Speaker 4: of Gaza, and they can't recognize them due to the 24 00:01:26,880 --> 00:01:27,920 Speaker 4: scale of destruction. 25 00:01:28,680 --> 00:01:31,520 Speaker 2: Farrest told me one of his favorite places in Gaza 26 00:01:31,680 --> 00:01:34,720 Speaker 2: was called East cohn Unice. It's an area that was 27 00:01:34,760 --> 00:01:37,880 Speaker 2: once full of olive and citrus trees, where people knew 28 00:01:37,880 --> 00:01:40,800 Speaker 2: each other so well that they referred to the neighborhoods 29 00:01:41,160 --> 00:01:43,399 Speaker 2: just by the names of the families who live there. 30 00:01:43,760 --> 00:01:47,320 Speaker 4: It's there where you can smell fresh air. It's there 31 00:01:47,360 --> 00:01:53,280 Speaker 4: where you can escape the dark, humid the houses of Gaza. 32 00:01:53,680 --> 00:01:57,600 Speaker 4: But now looking at the images of this area, I 33 00:01:57,640 --> 00:02:02,160 Speaker 4: can see that the houses that are there were demolished 34 00:02:02,600 --> 00:02:05,800 Speaker 4: and the farm lands were livered by bulldozers. 35 00:02:07,400 --> 00:02:09,799 Speaker 2: One of the homes that was destroyed there belonged to 36 00:02:09,840 --> 00:02:12,760 Speaker 2: a thirty seven year old woman named Rana Abou Nasira. 37 00:02:13,639 --> 00:02:16,960 Speaker 2: Rana fled her home after October seventh and moved through 38 00:02:17,000 --> 00:02:20,520 Speaker 2: the strip to avoid Israeli air strikes, but along the way, 39 00:02:20,760 --> 00:02:23,160 Speaker 2: she told Ferris, she tried to keep an eye on 40 00:02:23,240 --> 00:02:24,520 Speaker 2: it using Google Earth. 41 00:02:32,480 --> 00:02:35,799 Speaker 4: She was hopeful that her house was still standing because 42 00:02:35,840 --> 00:02:41,679 Speaker 4: she was looking at Google Earth Images without knowing that 43 00:02:42,040 --> 00:02:46,040 Speaker 4: the service doesn't update the real time. But eventually, when 44 00:02:46,320 --> 00:02:50,440 Speaker 4: she was able to return to her house, she found 45 00:02:50,440 --> 00:02:52,480 Speaker 4: it a pile of rebel. 46 00:02:53,400 --> 00:03:05,120 Speaker 2: Among Rana couldn't believe she was looking at her neighborhood, 47 00:03:05,200 --> 00:03:09,800 Speaker 2: her street, her house. She described what she found as crazy, 48 00:03:10,480 --> 00:03:21,000 Speaker 2: hardly imaginable. Months of dreaming about returning home one day 49 00:03:21,320 --> 00:03:26,919 Speaker 2: were dashed in an instant. There was nothing left. Rana 50 00:03:27,000 --> 00:03:29,520 Speaker 2: and her family hope they'll be able to rebuild their 51 00:03:29,520 --> 00:03:32,760 Speaker 2: home someday, but in the meantime, they've pitched a tent 52 00:03:32,919 --> 00:03:36,480 Speaker 2: in the bombed out backyard of their house. Ferris told 53 00:03:36,560 --> 00:03:39,240 Speaker 2: us that among the nearly two point two million people 54 00:03:39,320 --> 00:03:42,480 Speaker 2: displaced by the conflict, this is a familiar story. 55 00:03:42,760 --> 00:03:46,480 Speaker 4: That's what most of the people will do today. We 56 00:03:46,560 --> 00:03:50,000 Speaker 4: are talking about seventy percent of the houses of the 57 00:03:50,080 --> 00:03:53,240 Speaker 4: Gaza Strip are destroyed and damage. 58 00:03:53,960 --> 00:03:57,520 Speaker 2: Today on the show, the enormous task of rebuilding Gaza 59 00:03:57,960 --> 00:04:01,760 Speaker 2: and what role the international community play as the rubble clears. 60 00:04:02,600 --> 00:04:05,960 Speaker 2: This is the big take from Bloomberg News. I'm Sarah Holder. 61 00:04:10,760 --> 00:04:13,520 Speaker 2: It's been ten months since October seventh, ten months of 62 00:04:13,520 --> 00:04:17,560 Speaker 2: air strikes, displacement and destruction in the Gaza Strip. There's 63 00:04:17,560 --> 00:04:20,240 Speaker 2: been lots of reporting on the lack of basic supplies 64 00:04:20,240 --> 00:04:24,360 Speaker 2: in the strip, no electricity, running water, shortages of food 65 00:04:24,520 --> 00:04:28,120 Speaker 2: leading to famine. Parahs told me that's been the focus 66 00:04:28,160 --> 00:04:32,080 Speaker 2: of a lot of international aid efforts so far. But meanwhile, 67 00:04:32,240 --> 00:04:35,480 Speaker 2: people are also struggling to access other necessities. 68 00:04:35,640 --> 00:04:40,880 Speaker 4: People are struggling with hygiene to stay clean. People don't 69 00:04:40,920 --> 00:04:46,320 Speaker 4: have washing products, they don't have shamboo, they don't have 70 00:04:46,400 --> 00:04:51,479 Speaker 4: body wash. Period of products are not available. For many women. 71 00:04:51,600 --> 00:04:53,880 Speaker 4: There die bars for children. 72 00:04:54,320 --> 00:04:59,400 Speaker 2: Emergency services are strained. Hospitals are damaged and overfilled. People 73 00:04:59,440 --> 00:05:02,279 Speaker 2: are also lacking access to medications that they used to 74 00:05:02,320 --> 00:05:03,719 Speaker 2: take on a regular basis. 75 00:05:03,880 --> 00:05:08,680 Speaker 4: Pharmacists are running law on everything. I personally know about 76 00:05:08,839 --> 00:05:14,520 Speaker 4: eight people who died just because they did not find 77 00:05:14,839 --> 00:05:19,400 Speaker 4: the medication and treatment that they used to take before 78 00:05:19,520 --> 00:05:20,400 Speaker 4: the war. 79 00:05:21,240 --> 00:05:23,200 Speaker 2: This is not the first time Gaza has had to 80 00:05:23,240 --> 00:05:27,680 Speaker 2: rebuild after conflict. Hamas and Israel have gone to war 81 00:05:27,880 --> 00:05:30,800 Speaker 2: five times just since two thousand and seven. But there 82 00:05:30,800 --> 00:05:34,400 Speaker 2: are some unique things about this moment that make rebuilding 83 00:05:34,440 --> 00:05:39,160 Speaker 2: Gaza especially difficult. For one, there's the scale of the destruction. 84 00:05:40,080 --> 00:05:43,080 Speaker 2: In twenty fourteen, the conflict before this that caused the 85 00:05:43,120 --> 00:05:48,080 Speaker 2: most damage. Sixty thousand homes were destroyed. Right now, the 86 00:05:48,120 --> 00:05:51,279 Speaker 2: war has impacted seventy percent of the houses in the 87 00:05:51,320 --> 00:05:55,360 Speaker 2: Gaza Strip. About eighty thousand have been completely destroyed and 88 00:05:55,400 --> 00:05:58,880 Speaker 2: three hundred and seventy thousand have been damaged. And this 89 00:05:59,040 --> 00:06:02,240 Speaker 2: time the attacks have been more widespread. In that twenty 90 00:06:02,240 --> 00:06:06,920 Speaker 2: fourteen conflict, the damage was focused on specific areas. This time, 91 00:06:07,120 --> 00:06:11,839 Speaker 2: nearly all of the strip has been impacted. To understand 92 00:06:11,839 --> 00:06:15,640 Speaker 2: what rebuilding would take, we also spoke with Fadwahdali, a 93 00:06:15,640 --> 00:06:19,039 Speaker 2: Bloomberg reporter based in the West Bank. Fadwa noted that 94 00:06:19,080 --> 00:06:22,000 Speaker 2: this time there's also a new element of danger to 95 00:06:22,040 --> 00:06:23,520 Speaker 2: the reconstruction efforts. 96 00:06:24,240 --> 00:06:27,560 Speaker 5: One of the major big issues that all experts are 97 00:06:27,600 --> 00:06:31,800 Speaker 5: saying that this war is completely different is the explosive 98 00:06:31,960 --> 00:06:37,280 Speaker 5: that have fallen into the strip that have not exploded 99 00:06:37,600 --> 00:06:41,239 Speaker 5: and they're under the rubble. So this requires a certain 100 00:06:41,560 --> 00:06:42,880 Speaker 5: experts to handle. 101 00:06:43,360 --> 00:06:47,360 Speaker 2: With all these challenges come huge costs. There have been 102 00:06:47,480 --> 00:06:50,279 Speaker 2: estimates that it could take over eighty billion dollars to 103 00:06:50,320 --> 00:06:53,839 Speaker 2: rebuild when you factor in hidden costs like the decimated 104 00:06:53,920 --> 00:06:57,200 Speaker 2: labor market, and for it to happen Fadwa says, a 105 00:06:57,240 --> 00:07:00,720 Speaker 2: lot of new materials and equipment are needed because right 106 00:07:00,760 --> 00:07:03,799 Speaker 2: now Gaza doesn't have what it would need to complete 107 00:07:03,800 --> 00:07:04,279 Speaker 2: this work. 108 00:07:04,440 --> 00:07:07,040 Speaker 5: Eighty percent of the machinery it's been destroyed. 109 00:07:07,600 --> 00:07:11,000 Speaker 2: Paras Algo says. Step one will be to remove all 110 00:07:11,120 --> 00:07:11,760 Speaker 2: the debris. 111 00:07:11,880 --> 00:07:15,520 Speaker 4: We are talking about forty two million tons of rubble 112 00:07:15,600 --> 00:07:20,680 Speaker 4: that has accumulated in Gaza since October. If you are 113 00:07:20,760 --> 00:07:23,560 Speaker 4: to remove this rebel, you need a line of dump 114 00:07:23,680 --> 00:07:28,400 Speaker 4: trucks starting from New York and ending in singabore. 115 00:07:28,160 --> 00:07:32,600 Speaker 2: Dump trucks stretched single file from New York to Singapore. 116 00:07:32,840 --> 00:07:36,480 Speaker 4: Can you imagine that? According to estimates, the removal of 117 00:07:36,520 --> 00:07:40,440 Speaker 4: the rubbile only, which will be the first step in reconstruction, 118 00:07:41,160 --> 00:07:45,320 Speaker 4: will take at least eighty years eight years. 119 00:07:45,720 --> 00:07:48,280 Speaker 2: Pharah says, according to someone he spoke to at the 120 00:07:48,280 --> 00:07:52,120 Speaker 2: Gaza Municipality, there are around one hundred and twenty dump 121 00:07:52,120 --> 00:07:55,320 Speaker 2: trucks currently in the strip, So removing all that rubble 122 00:07:55,560 --> 00:08:00,320 Speaker 2: will require outside help and that would only be step one. 123 00:08:00,360 --> 00:08:03,360 Speaker 2: The reconstruction of Gaza is a project that will require 124 00:08:03,440 --> 00:08:07,800 Speaker 2: cooperation and investment from many different countries and organizations around 125 00:08:07,840 --> 00:08:11,520 Speaker 2: the world. But getting in that new machinery will also 126 00:08:11,640 --> 00:08:16,440 Speaker 2: require cooperation from Israel, which currently controls virtually all access 127 00:08:16,480 --> 00:08:16,960 Speaker 2: to Gaza. 128 00:08:17,480 --> 00:08:20,000 Speaker 5: You have to get an approval for all the machinery 129 00:08:20,320 --> 00:08:24,040 Speaker 5: to enter the strip, unique to make sure constantly the 130 00:08:24,160 --> 00:08:27,880 Speaker 5: borders are open. None of this will take place without 131 00:08:27,880 --> 00:08:29,800 Speaker 5: the approval of the Israeli authority. 132 00:08:30,880 --> 00:08:34,080 Speaker 2: After the break, what role will the Israeli authority play 133 00:08:34,240 --> 00:08:37,880 Speaker 2: in rebuilding Gaza and will other countries step in to help? 134 00:08:46,840 --> 00:08:50,360 Speaker 2: The Israeli government currently controls access to Gaza, and so 135 00:08:50,480 --> 00:08:54,760 Speaker 2: any machinery or materials the strip needs to rebuild that 136 00:08:54,800 --> 00:08:58,640 Speaker 2: will require the approval of the Israeli government. But Israel 137 00:08:58,679 --> 00:09:02,120 Speaker 2: has expressed concerns in the past about material it considers 138 00:09:02,360 --> 00:09:04,439 Speaker 2: dual use entering the area. 139 00:09:04,520 --> 00:09:08,240 Speaker 1: Any material that could conceivably be used for a secondary, 140 00:09:08,440 --> 00:09:13,720 Speaker 1: unintented or unwanted purpose of a military build up a 141 00:09:13,800 --> 00:09:16,600 Speaker 1: security threat would be deemed dual use. 142 00:09:17,000 --> 00:09:19,960 Speaker 2: We spoke about this dynamic with Dan Williams, a reporter 143 00:09:20,040 --> 00:09:21,800 Speaker 2: out of Bloomberg's Jerusalem bureau. 144 00:09:22,400 --> 00:09:25,439 Speaker 1: It's worth mentioning here that Hamas and other fighting factions 145 00:09:25,520 --> 00:09:28,960 Speaker 1: in the Gaza Strip have proven very capable when it 146 00:09:29,000 --> 00:09:33,640 Speaker 1: comes to using rudimentary materials and tools, and using these 147 00:09:33,679 --> 00:09:38,679 Speaker 1: to build up an effective arsenal and even a citadel. So, 148 00:09:38,800 --> 00:09:42,959 Speaker 1: for example, we know from previous videos issued by Palestinian 149 00:09:43,000 --> 00:09:46,120 Speaker 1: fighters that even water pipes can be extracted from the 150 00:09:46,160 --> 00:09:51,320 Speaker 1: ground and converted into rockets. We know that tiles and 151 00:09:51,400 --> 00:09:54,160 Speaker 1: concrete that may have been intended for I don't know, 152 00:09:54,240 --> 00:09:58,280 Speaker 1: hospitals or schools can be used to line and buttress 153 00:09:58,440 --> 00:10:02,960 Speaker 1: the hundreds of miles of tunnels fighting tunnels that Hamas 154 00:10:03,000 --> 00:10:06,880 Speaker 1: and Islamic she Had and other groups have created underneath 155 00:10:07,000 --> 00:10:07,880 Speaker 1: the Gaza strip. 156 00:10:08,880 --> 00:10:11,840 Speaker 2: Far As Algol says, in the past, these sorts of 157 00:10:11,880 --> 00:10:15,439 Speaker 2: restrictions have had a big impact on rebuilding efforts. 158 00:10:17,520 --> 00:10:24,800 Speaker 4: Even after two and fourteen, Israel restricted and regulated the 159 00:10:25,400 --> 00:10:30,680 Speaker 4: delivery and injury of construction material by following a mechanism 160 00:10:30,880 --> 00:10:36,360 Speaker 4: that would track every bag of cement and will live 161 00:10:36,440 --> 00:10:41,760 Speaker 4: it the beneficiaries those who will receive the cement, and 162 00:10:41,840 --> 00:10:48,280 Speaker 4: would calculate how much cemith or construction material this house needed. 163 00:10:48,480 --> 00:10:52,119 Speaker 2: Dan Williams says part of Israel's willingness to allow materials 164 00:10:52,120 --> 00:10:55,440 Speaker 2: into Gaza will depend on who takes over there if 165 00:10:55,520 --> 00:10:57,960 Speaker 2: and when an eventual peace deal is achieved. 166 00:10:58,400 --> 00:11:02,200 Speaker 1: Postfal discussions for Gaza are central to the issue of 167 00:11:02,320 --> 00:11:06,320 Speaker 1: reconstruction for Gaza for a simple reason, this is a 168 00:11:06,320 --> 00:11:09,320 Speaker 1: mammoth task. It's a mammoth task that will fall to 169 00:11:09,440 --> 00:11:13,600 Speaker 1: whoever is formerly in charge of the Gaza Strip. It's 170 00:11:13,679 --> 00:11:16,080 Speaker 1: not clear what the day after would look like, given 171 00:11:16,120 --> 00:11:19,920 Speaker 1: that Hamas has no attention of yielding its rule of 172 00:11:19,920 --> 00:11:22,920 Speaker 1: the Gaza Strip if it can avoid it, given that 173 00:11:23,000 --> 00:11:27,600 Speaker 1: Israel has been balking so far at proposals to reintroduce 174 00:11:27,600 --> 00:11:29,640 Speaker 1: the parasit and authority to the Gaza Strip. 175 00:11:30,040 --> 00:11:33,000 Speaker 2: The Palestinian Authority, which was set up to govern Gaza 176 00:11:33,160 --> 00:11:36,520 Speaker 2: about three decades ago, has had limited power over the 177 00:11:36,600 --> 00:11:40,520 Speaker 2: territory since Hamas took over seventeen years ago, but it's 178 00:11:40,559 --> 00:11:43,400 Speaker 2: continued to pay for nearly half of the strip's official 179 00:11:43,440 --> 00:11:47,800 Speaker 2: government and public utility spending. Dan told me that even 180 00:11:47,840 --> 00:11:51,120 Speaker 2: if the Palestinian Authority were able to rest control of 181 00:11:51,160 --> 00:11:54,720 Speaker 2: the strip fully back from Hamas, Israel may not trust 182 00:11:54,720 --> 00:11:57,680 Speaker 2: the government to effectively oversee a rebuilding effort. 183 00:11:58,000 --> 00:12:01,920 Speaker 1: Israel simply does not trust the peace to administer properly. 184 00:12:02,480 --> 00:12:05,960 Speaker 1: Some elements of the Israeli government indeed want Israel to 185 00:12:06,040 --> 00:12:09,880 Speaker 1: administer the Gaza Strip indefinitely, and even to rebuild Jurish 186 00:12:09,880 --> 00:12:13,160 Speaker 1: settlements there, which were removed in two thousand and five 187 00:12:13,200 --> 00:12:17,199 Speaker 1: when Israel withdrew from the Gaza Strip, and whose return 188 00:12:17,840 --> 00:12:22,120 Speaker 1: would really be censured throughout the world among world powers, 189 00:12:22,160 --> 00:12:25,760 Speaker 1: given they consider the settlements illegal. It's very hard to 190 00:12:25,840 --> 00:12:29,439 Speaker 1: know how anyone could reach a situation where there'd be 191 00:12:29,520 --> 00:12:35,400 Speaker 1: enough stability and enough bureaucratic consensus and enough fiscal consensus 192 00:12:35,440 --> 00:12:38,719 Speaker 1: around the Gaza Strip to enable even the beginning of 193 00:12:38,760 --> 00:12:42,240 Speaker 1: a reconstruction process to address the sheer extent of the 194 00:12:42,320 --> 00:12:42,920 Speaker 1: damage there. 195 00:12:43,400 --> 00:12:47,880 Speaker 2: Fiscal consensus that lack of clarity on who will govern 196 00:12:47,960 --> 00:12:51,160 Speaker 2: Gaza it poses a problem when it comes to securing 197 00:12:51,280 --> 00:12:56,080 Speaker 2: international aid and resources that are critical to rebuilding. Finding 198 00:12:56,160 --> 00:12:59,040 Speaker 2: the tens of billions of dollars or more needed to 199 00:12:59,080 --> 00:13:03,480 Speaker 2: rebuild take longer. With inflation high and some nations already 200 00:13:03,520 --> 00:13:06,480 Speaker 2: tired of sending continued aid to Ukraine for its war 201 00:13:06,559 --> 00:13:10,800 Speaker 2: with Russia and Pharas says, many countries may be wary 202 00:13:10,880 --> 00:13:13,880 Speaker 2: of committing funds toward Gaza as long as peace there 203 00:13:14,040 --> 00:13:15,040 Speaker 2: remains unstable. 204 00:13:15,360 --> 00:13:18,480 Speaker 4: Look at Katar, for example, It was the largest single 205 00:13:18,600 --> 00:13:25,280 Speaker 4: donar for Gaza through seventeen years of Hamas rule. Israeli blocated, 206 00:13:26,040 --> 00:13:30,520 Speaker 4: but the Qatar signals that it is not interested in 207 00:13:31,080 --> 00:13:34,640 Speaker 4: getting involved inarybuilding because it had been the over a 208 00:13:34,679 --> 00:13:39,840 Speaker 4: billion of dollars infrastructure projects in Gaza and all of 209 00:13:39,880 --> 00:13:42,320 Speaker 4: that has read so nothing. 210 00:13:44,120 --> 00:13:47,400 Speaker 2: Talks are ongoing this week, and blinkoln has been described 211 00:13:47,400 --> 00:13:52,800 Speaker 2: as sounding optimistic. But for Palestinians, whose families, homes and 212 00:13:52,880 --> 00:13:57,600 Speaker 2: communities have been decimated, even that eventual rebuilding can never 213 00:13:57,679 --> 00:13:59,200 Speaker 2: bring back all that they've lost. 214 00:13:59,800 --> 00:14:02,960 Speaker 5: These people have witnessed so many wars, not one or 215 00:14:03,000 --> 00:14:06,559 Speaker 5: two or three. They need to find peace. They cannot 216 00:14:06,640 --> 00:14:09,960 Speaker 5: move on with a war after war after war. 217 00:14:10,559 --> 00:14:13,320 Speaker 4: If the removal over Robin will take eight years, the 218 00:14:13,600 --> 00:14:16,959 Speaker 4: curing of the damage done to the lives of Lieoble 219 00:14:17,040 --> 00:14:20,640 Speaker 4: will take eighty years. 220 00:14:30,600 --> 00:14:33,680 Speaker 2: This is the big take from Bloomberg News. I'm Sarah Holder. 221 00:14:34,480 --> 00:14:37,400 Speaker 2: This episode was produced by Julia Press. It was fact 222 00:14:37,440 --> 00:14:40,440 Speaker 2: checked by Adrianna Tapia and edited by Caitlin Kenney and 223 00:14:40,520 --> 00:14:45,000 Speaker 2: Caroline Alexander. It was mixed by Alex Sugia. Our senior 224 00:14:45,040 --> 00:14:48,680 Speaker 2: producers are Kim Gettleson and Naomi Shadan. Our senior editor 225 00:14:48,720 --> 00:14:53,440 Speaker 2: is Elizabeth Ponso, Nicole biumsterbor Is Our executive producer. Sage 226 00:14:53,440 --> 00:14:57,360 Speaker 2: Bauman is Bloomberg's head of podcasts. Thanks so much for listening. 227 00:14:57,560 --> 00:15:00,000 Speaker 2: Please follow and review The Big Take wherever you get 228 00:15:00,000 --> 00:15:02,800 Speaker 2: at your podcasts. It helps new listeners find the show. 229 00:15:03,520 --> 00:15:04,480 Speaker 2: We'll be back tomorrow.