1 00:00:00,080 --> 00:00:07,680 Speaker 1: Videos broadcasting live to New York, Bloomberg eleventh to Washington, 2 00:00:07,760 --> 00:00:12,799 Speaker 1: d C, Bloomberg to Boston, Bloomberg twelve unders to San Francisco, 3 00:00:12,920 --> 00:00:17,920 Speaker 1: Bloomberg to the Country six General one ninety and around 4 00:00:17,960 --> 00:00:21,360 Speaker 1: the globe the Bloomberg Radio plus appen Bloomberg dot Com. 5 00:00:21,520 --> 00:00:26,920 Speaker 1: This is Bloomberg Surveillance. Good morning. It is a seventh 6 00:00:26,920 --> 00:00:29,320 Speaker 1: thirty on Wall Street seven thirty in Washington, d C. 7 00:00:29,600 --> 00:00:32,800 Speaker 1: Where Tom Keenan and Michael McKee are this morning after 8 00:00:33,200 --> 00:00:36,600 Speaker 1: Super Tuesday. Lot going on in the financial world. Here's 9 00:00:36,600 --> 00:00:39,600 Speaker 1: where the corporate headlines were following sports authority filing for 10 00:00:39,640 --> 00:00:43,559 Speaker 1: bankruptcy this morning after failing to exploit the thickness boom. 11 00:00:43,720 --> 00:00:47,640 Speaker 1: Germany's antitrust regulator opening a probe into whether Facebook abused 12 00:00:47,640 --> 00:00:50,839 Speaker 1: its power in the social network market by forcing customers 13 00:00:50,840 --> 00:00:53,720 Speaker 1: to agree to terms allowing use of their data and 14 00:00:53,880 --> 00:00:57,120 Speaker 1: at a Darko Petroleum rising after announcing plans to sell 15 00:00:57,200 --> 00:00:59,880 Speaker 1: three billion dollars in assets this year while cutting spending 16 00:00:59,880 --> 00:01:03,840 Speaker 1: a new wells and other projects by almost fifty six. 17 00:01:04,720 --> 00:01:06,320 Speaker 1: Now I'm checking with Michael Barr and get the latest 18 00:01:06,319 --> 00:01:09,399 Speaker 1: world in national headlines. Michael, Mike, Tom, thank you very much. 19 00:01:09,480 --> 00:01:13,360 Speaker 1: Donald Trump and Hillary Clinton have taker Massachusetts primaries, with 20 00:01:13,560 --> 00:01:17,480 Speaker 1: both candidates also widening their leads nationally and Super Tuesday contests. 21 00:01:17,920 --> 00:01:21,680 Speaker 1: Trump out distance his Republican challengers. Clinton got a narrow 22 00:01:21,680 --> 00:01:23,600 Speaker 1: win over Bernie Sanders in the state and ask for 23 00:01:23,680 --> 00:01:28,880 Speaker 1: Super Tuesday. Overall, Trump and Clinton each one seven states. Meanwhile, 24 00:01:28,920 --> 00:01:32,039 Speaker 1: New Jersey Governor Chris Christie is catching some heat in 25 00:01:32,120 --> 00:01:35,399 Speaker 1: his home state after endorsing Donald Trump. Six New Jersey 26 00:01:35,400 --> 00:01:38,880 Speaker 1: newspapers have called on the former presidential candidate to resign 27 00:01:39,040 --> 00:01:42,600 Speaker 1: as governor. Cruise in southwestern New York State are working 28 00:01:42,600 --> 00:01:45,280 Speaker 1: to contain a leak on an ethanol tanker that derailed 29 00:01:45,280 --> 00:01:48,360 Speaker 1: early this morning. The tanker was among sixteen cars on 30 00:01:48,400 --> 00:01:50,880 Speaker 1: a freight train that derailed in the town of Ripley, 31 00:01:50,920 --> 00:01:55,240 Speaker 1: about sixty miles southwest of Buffalo. Chaff Joseph Gerassie. We've 32 00:01:55,240 --> 00:02:01,960 Speaker 1: evacuated houses. Thirty people are in shelter, all their family 33 00:02:01,960 --> 00:02:04,840 Speaker 1: and friends to stay with. Gerassi says the clean up 34 00:02:04,920 --> 00:02:08,200 Speaker 1: could take days. The Royal Caribbean cruise ship that was 35 00:02:08,280 --> 00:02:11,079 Speaker 1: battered in a storm last month in the Atlantic as 36 00:02:11,120 --> 00:02:13,760 Speaker 1: we returned to port early, cutting short and other cruise 37 00:02:13,760 --> 00:02:16,919 Speaker 1: because of weather issues. The Anthem of the Seas docked 38 00:02:16,919 --> 00:02:20,360 Speaker 1: in Bayone, New Jersey, early this morning. Global News twenty 39 00:02:20,400 --> 00:02:22,800 Speaker 1: four hours a day, powered by our twenty four hundred 40 00:02:22,840 --> 00:02:25,680 Speaker 1: journalists more than a hundred fifty news bureaus from around 41 00:02:25,720 --> 00:02:30,080 Speaker 1: the world. MICHAELA. Bar Mike Tom, Thank you, Micke. All 42 00:02:30,160 --> 00:02:32,880 Speaker 1: time now for the Bloomberg NBC Sports update. Here's Jones 43 00:02:32,919 --> 00:02:35,359 Speaker 1: tes all right, thanks to Mike. It was the outbreak 44 00:02:35,400 --> 00:02:38,600 Speaker 1: of domestic violence cases in the NFL that led Baseball 45 00:02:38,639 --> 00:02:41,000 Speaker 1: with the Union to agree last summer to a new policy. 46 00:02:41,080 --> 00:02:44,280 Speaker 1: The first players suspended under it is new Yankees believer 47 00:02:44,680 --> 00:02:46,720 Speaker 1: or all this Chapman, who was involved in into the 48 00:02:46,840 --> 00:02:49,560 Speaker 1: last fall in Florida with his girlfriend. Though no charges 49 00:02:49,600 --> 00:02:51,760 Speaker 1: were brought, he was alleged to have choked her and 50 00:02:51,800 --> 00:02:55,200 Speaker 1: then taking a handgun and fired eight shots in his garage. 51 00:02:55,520 --> 00:02:58,520 Speaker 1: Baseball has suspended Chapman for the first thirty games of 52 00:02:58,560 --> 00:03:00,760 Speaker 1: the upcoming season. Busy night to the Locals only. The 53 00:03:00,760 --> 00:03:03,720 Speaker 1: Islanders won three two at Vancouver on a Thomas Hicky 54 00:03:03,760 --> 00:03:05,280 Speaker 1: goal in the third period. The Isles of one eight 55 00:03:05,280 --> 00:03:07,679 Speaker 1: of their last eleven. The Devils have lost six of 56 00:03:07,800 --> 00:03:10,840 Speaker 1: seven playoff hopes for fading Carolina with two late goals 57 00:03:10,840 --> 00:03:13,239 Speaker 1: to win three one at the Garden. Two teams going 58 00:03:13,280 --> 00:03:16,239 Speaker 1: opposite ways. Portland beat the Knicks one oh eight. Five. 59 00:03:16,320 --> 00:03:19,600 Speaker 1: Blazers have won fourteen of their last sixteen, Knicks have 60 00:03:19,680 --> 00:03:22,600 Speaker 1: lost fifteen of eighteen. At one point, Carmelo Anthony was 61 00:03:22,680 --> 00:03:25,800 Speaker 1: heckled by a courtside fan, so he pointed to owner 62 00:03:25,880 --> 00:03:28,560 Speaker 1: James Dolan and told the fan to ask Dolan for 63 00:03:28,639 --> 00:03:30,680 Speaker 1: his money back. Was to be the last time the 64 00:03:30,680 --> 00:03:33,480 Speaker 1: Nets whatever faced Kobe Bryant, but he didn't play source shoulder. 65 00:03:33,520 --> 00:03:37,080 Speaker 1: Rookie D'Angelo Russell scored thirty nine points Lakers into their 66 00:03:37,120 --> 00:03:40,360 Speaker 1: eight game losing streake, beating Brooklyn one oh seven, one 67 00:03:40,360 --> 00:03:43,080 Speaker 1: oh one. With the Bloomberg NBC Sports Updeam, I'm John 68 00:03:43,120 --> 00:03:47,720 Speaker 1: stash Alin. Thank you, John Well. We did not stay 69 00:03:47,760 --> 00:03:50,480 Speaker 1: up late to watch the Islanders. We were watching politics. 70 00:03:50,520 --> 00:03:52,880 Speaker 1: Will continue our discussion on that with E. J. Deon 71 00:03:53,280 --> 00:03:56,280 Speaker 1: of the Brookings Institution and the Washington Post coming up 72 00:03:56,680 --> 00:03:59,040 Speaker 1: in just a moment about ten o'clock when the game 73 00:03:59,040 --> 00:04:03,160 Speaker 1: was getting underway out Vancouver. The Super Tuesday primaries were 74 00:04:03,280 --> 00:04:06,600 Speaker 1: for the most part, wrapping up a big night for 75 00:04:06,760 --> 00:04:10,560 Speaker 1: Hillary Clinton, a big night for Donald Trump. What happens next? 76 00:04:10,720 --> 00:04:18,680 Speaker 1: That's our subject for most of today on Bloomberg surveillance worldwide. 77 00:04:19,000 --> 00:04:22,680 Speaker 1: Welcome back to Bloomberg Surveillance. It is a down day, 78 00:04:22,720 --> 00:04:24,960 Speaker 1: at least in the futures markets right now. S and 79 00:04:25,040 --> 00:04:27,800 Speaker 1: P futures are off by four points down, EMUNI futures 80 00:04:28,120 --> 00:04:31,800 Speaker 1: down by twenty eight. Nasdaq futures are five points lower. 81 00:04:32,080 --> 00:04:34,560 Speaker 1: Up in Europe, however, with the stock six hundred up 82 00:04:34,560 --> 00:04:37,960 Speaker 1: a point, that's three tenths of eight percent. The Bloomberg 83 00:04:38,040 --> 00:04:39,600 Speaker 1: n j I T STEM Report is brought to you 84 00:04:39,640 --> 00:04:42,760 Speaker 1: by New Jersey Institute of Technology, partnering with government and 85 00:04:42,839 --> 00:04:45,599 Speaker 1: industry to apply the university's world class research assets to 86 00:04:45,600 --> 00:04:48,359 Speaker 1: innovate and spur economic growth. Learn more at n j 87 00:04:48,520 --> 00:04:51,040 Speaker 1: I T dot e d U. Here's Bob Moon, Mike 88 00:04:51,080 --> 00:04:54,000 Speaker 1: Good Morning, Coming up on Wall Street, and here's what's 89 00:04:54,040 --> 00:04:57,640 Speaker 1: making news and science, technology, engineering, and math. The future 90 00:04:57,720 --> 00:05:01,159 Speaker 1: of Facebook and other Internet services that make money advertising 91 00:05:01,160 --> 00:05:04,839 Speaker 1: things to you may hinge on your personal information. Germany's 92 00:05:04,839 --> 00:05:08,200 Speaker 1: antitrust regulator opened a probe into whether Facebook abused its 93 00:05:08,200 --> 00:05:11,200 Speaker 1: power in the social network market by forcing customers to 94 00:05:11,240 --> 00:05:13,560 Speaker 1: agree to take it or leave it terms allowing the 95 00:05:13,640 --> 00:05:16,480 Speaker 1: use of their data. The Federal Cartel Office is examining 96 00:05:16,480 --> 00:05:19,760 Speaker 1: whether the terms breached data protection laws and whether imposing 97 00:05:19,839 --> 00:05:23,200 Speaker 1: them is an antitrust violation, even as the authority acknowledged 98 00:05:23,200 --> 00:05:26,800 Speaker 1: that information about users is hugely important for advertising financed 99 00:05:26,839 --> 00:05:30,400 Speaker 1: Internet services. Facebook set an emailed statement that it's confident 100 00:05:30,440 --> 00:05:33,119 Speaker 1: in complies with the law and looks forward to working 101 00:05:33,120 --> 00:05:36,000 Speaker 1: with the investigators to answer their questions. The social network 102 00:05:36,040 --> 00:05:38,719 Speaker 1: is facing mounting pressure from the European Union's twenty eight 103 00:05:38,720 --> 00:05:41,919 Speaker 1: privacy watchdogs over how it uses the treasure trove of 104 00:05:41,920 --> 00:05:45,880 Speaker 1: customer data, a half dozen countries of open separate national investigations. 105 00:05:46,040 --> 00:05:49,120 Speaker 1: One concerned can users really understand and assess the scope 106 00:05:49,400 --> 00:05:52,600 Speaker 1: of the agreement they're accepting and exactly what they're giving up? 107 00:05:52,920 --> 00:05:56,120 Speaker 1: And that's this morning's Bloomberg n G I t STEM report. Mike, 108 00:05:56,160 --> 00:05:58,240 Speaker 1: I'm presuming you've read every one of the roughly three 109 00:05:58,320 --> 00:06:00,839 Speaker 1: thousand words of make up Facebook's in terms of service, 110 00:06:01,960 --> 00:06:05,120 Speaker 1: about two thousand. N I got a little more work 111 00:06:05,160 --> 00:06:07,240 Speaker 1: to do. I'm thinking about e j D one out 112 00:06:07,240 --> 00:06:10,080 Speaker 1: on Facebook and Twitter, and on Facebook, I guess, and 113 00:06:10,080 --> 00:06:12,440 Speaker 1: I can't get there. Bob Moon, thank you, Uh, so 114 00:06:12,520 --> 00:06:14,839 Speaker 1: much with us E J. Don of the Brookings Institution, 115 00:06:14,920 --> 00:06:18,479 Speaker 1: Georgetown University, and of course, writing not often enough in 116 00:06:18,520 --> 00:06:22,400 Speaker 1: the Washington Post his new book, Why the Right Went Wrong. 117 00:06:22,440 --> 00:06:26,159 Speaker 1: I love the subtitle Conservatism. Uh. And he goes on 118 00:06:26,240 --> 00:06:29,440 Speaker 1: to talk about from Goldwater to the Tea Party and beyond. 119 00:06:29,520 --> 00:06:32,560 Speaker 1: E J. D. And let's talk about Washington. We're thrilled 120 00:06:32,560 --> 00:06:36,559 Speaker 1: to be with FM Washington. Uh. It's it's such an 121 00:06:36,600 --> 00:06:40,840 Speaker 1: interesting and historical capital. We are nestled against the New 122 00:06:40,920 --> 00:06:45,360 Speaker 1: York Avenue Presbyterian Church over three blocks is St. John's 123 00:06:45,360 --> 00:06:48,800 Speaker 1: Episcopal Church, the Church of the Presidents, and that with 124 00:06:48,920 --> 00:06:52,920 Speaker 1: a lovely Catholic heritage here as well. Does religion matter 125 00:06:53,320 --> 00:06:57,880 Speaker 1: to Washington and to this election? What religion does matter 126 00:06:57,920 --> 00:07:00,920 Speaker 1: a lot to this election at the Homan, particularly on 127 00:07:00,960 --> 00:07:03,800 Speaker 1: the Republican side. If you look by the way at 128 00:07:03,839 --> 00:07:07,400 Speaker 1: Ted Cruise's victory and Oklahoma. Obviously a lot of it 129 00:07:07,440 --> 00:07:10,520 Speaker 1: has to do with his being next door in Texas, 130 00:07:10,960 --> 00:07:16,280 Speaker 1: but that this is one place where evangelical evangelicals board 131 00:07:16,280 --> 00:07:20,560 Speaker 1: against who have been split, actually delivered for Cruise. Crews 132 00:07:20,720 --> 00:07:23,320 Speaker 1: carried the evangelical vote, which is about three quarters of 133 00:07:23,320 --> 00:07:26,480 Speaker 1: the Republican vote. In Oklahoma. Uh, and Trump beat him 134 00:07:26,520 --> 00:07:29,840 Speaker 1: badly among those who aren't evangelical. But what you've seen 135 00:07:30,400 --> 00:07:33,280 Speaker 1: in this Partamary, is a real split in that vote, 136 00:07:33,320 --> 00:07:36,560 Speaker 1: the white evangelical vote, between those who are voting on 137 00:07:36,640 --> 00:07:39,680 Speaker 1: the old issues that Cruiz talks a lot about abortion, 138 00:07:40,080 --> 00:07:45,440 Speaker 1: same sex marriage, now religious liberty, uh, and those who 139 00:07:45,480 --> 00:07:49,240 Speaker 1: are just so angry that the culture has gotten away 140 00:07:49,280 --> 00:07:53,760 Speaker 1: from them. We see the country changing in horrible ways, uh, 141 00:07:53,800 --> 00:07:56,400 Speaker 1: from their point of view that they are voting for 142 00:07:56,440 --> 00:08:00,720 Speaker 1: the angry candidate Donald Trump to stop them. Uh. And 143 00:08:00,760 --> 00:08:03,320 Speaker 1: so we're gonna have a real reckoning at the end 144 00:08:03,320 --> 00:08:05,680 Speaker 1: of this election or in where we're having it right 145 00:08:05,720 --> 00:08:10,640 Speaker 1: now about what the religious conservative movement actually is on 146 00:08:10,680 --> 00:08:14,280 Speaker 1: the Democratic side. I'm struck that Hillary is speaking more 147 00:08:14,320 --> 00:08:17,840 Speaker 1: and more in religious terms. You know, she is a 148 00:08:17,880 --> 00:08:21,640 Speaker 1: good Methodist, She is actually a religious person. I've thought 149 00:08:21,680 --> 00:08:24,480 Speaker 1: for a long time uh that you know, if her 150 00:08:24,560 --> 00:08:28,040 Speaker 1: problem is that some people don't think she's authentic, this 151 00:08:28,120 --> 00:08:31,040 Speaker 1: is a part of herself that's real, uh, and that 152 00:08:31,160 --> 00:08:33,040 Speaker 1: she can speak to. And I think you've heard it 153 00:08:33,160 --> 00:08:35,839 Speaker 1: last night. You heard it after her victory in South 154 00:08:35,840 --> 00:08:39,560 Speaker 1: Carolina when she quoted St. Paul on love and she's 155 00:08:39,600 --> 00:08:42,400 Speaker 1: even using the term love and saying we need more 156 00:08:42,400 --> 00:08:45,160 Speaker 1: of that in our public life. I think it's gonna 157 00:08:45,160 --> 00:08:49,120 Speaker 1: be an interesting turn on her part. We've got about 158 00:08:49,120 --> 00:08:50,880 Speaker 1: a minute and a half or so left. Give give 159 00:08:50,960 --> 00:08:54,240 Speaker 1: us a quick cliff notes on the book and the 160 00:08:54,400 --> 00:08:58,960 Speaker 1: path from Goldwater to the Tea Party, because very Goldwater 161 00:08:59,280 --> 00:09:02,960 Speaker 1: was very much isolated, shall we say character I'm not 162 00:09:03,000 --> 00:09:07,520 Speaker 1: saying isolationists, but um, he would rather lose on principle 163 00:09:07,679 --> 00:09:10,920 Speaker 1: than win by compromising. But then Ronald Reagan took that 164 00:09:11,040 --> 00:09:14,640 Speaker 1: to the party's apotheisist. He was willing to compromise with 165 00:09:14,720 --> 00:09:17,480 Speaker 1: Tip O'Neil and others. Party diet great. And now look, 166 00:09:17,800 --> 00:09:20,280 Speaker 1: how did we get from there to here? What the 167 00:09:20,440 --> 00:09:24,120 Speaker 1: core Goldwater promises. Godwater was a lovely man in so 168 00:09:24,240 --> 00:09:26,480 Speaker 1: many ways. By the way, I'm very critical of his 169 00:09:26,559 --> 00:09:28,719 Speaker 1: ideas in nineteen sixty four, but he was a very 170 00:09:28,760 --> 00:09:31,800 Speaker 1: decent man. But remember it was Barry Goldwater who said 171 00:09:31,800 --> 00:09:35,880 Speaker 1: in nineteen sixty four, extremism in defense of liberty is 172 00:09:35,920 --> 00:09:40,840 Speaker 1: no vice. Moderation in pursuit of justice is no virtue. Uh, 173 00:09:40,880 --> 00:09:44,080 Speaker 1: And that Reagan did indeed compromise. There are kind of 174 00:09:44,080 --> 00:09:47,480 Speaker 1: I argue there are two Reagans. The Reagan that ideologues 175 00:09:47,600 --> 00:09:50,400 Speaker 1: referred to, who really was a movement guy uh and 176 00:09:50,400 --> 00:09:53,040 Speaker 1: the Reagan who governed, who was willing to compromise when 177 00:09:53,120 --> 00:09:56,079 Speaker 1: he had to deal with Democrats, which he did both 178 00:09:56,080 --> 00:10:00,400 Speaker 1: as president as governor of California. UM. But the goal 179 00:10:00,520 --> 00:10:04,800 Speaker 1: onners promises couldn't be kept. The party radicalized, and I 180 00:10:04,840 --> 00:10:07,920 Speaker 1: think that it's a leadership today when they can't stop 181 00:10:08,000 --> 00:10:12,040 Speaker 1: Trump is really paying a price because they played footsie 182 00:10:12,120 --> 00:10:15,079 Speaker 1: with Trump. Romney is trying to beat him now, welcomed 183 00:10:15,080 --> 00:10:19,760 Speaker 1: his endorsements, giving him really falsome praise at the time. UM. 184 00:10:19,960 --> 00:10:22,439 Speaker 1: And the one he keeps coming back to me is 185 00:10:22,559 --> 00:10:26,760 Speaker 1: John Kennedy's line that he who foolishly writes to power 186 00:10:26,960 --> 00:10:30,880 Speaker 1: on the back of the tiger ends up inside the 187 00:10:30,960 --> 00:10:34,400 Speaker 1: Republican leadership road, the forces that are now giving us 188 00:10:34,440 --> 00:10:37,440 Speaker 1: Donald Trump and the Bay of Price. Okay, e J, 189 00:10:37,520 --> 00:10:42,319 Speaker 1: don't thank you so much. Years ago, Why Americans Hate Politics, 190 00:10:42,679 --> 00:10:44,800 Speaker 1: it was a classic, the new book Why the Right 191 00:10:45,080 --> 00:10:49,360 Speaker 1: Went Wrong. Mr Diono, Georgetown Brookings and the Washington Post, 192 00:10:49,400 --> 00:10:52,560 Speaker 1: we say good morning to all of you FM in 193 00:10:52,600 --> 00:10:56,160 Speaker 1: Washington and coast to coast on this super Wednesday. This 194 00:10:56,240 --> 00:11:02,920 Speaker 1: is Bloomberg's Surveillance. Bloomberg Surveillance is brought to by the 195 00:11:02,960 --> 00:11:07,160 Speaker 1: New York Chamber of Commerce. Mining agricultural opportunities abound in Nigeria. 196 00:11:07,240 --> 00:11:10,600 Speaker 1: Learn about protective investments in Africa's most active markets. Thursday, 197 00:11:10,640 --> 00:11:13,720 Speaker 1: March three, at breakfast eight am, twenty West forty fourth Street. 198 00:11:13,920 --> 00:11:14,840 Speaker 1: Breakfast is free.