1 00:00:00,440 --> 00:00:05,159 Speaker 1: Live from our nation's camera. How do we reopen this economy? 2 00:00:05,240 --> 00:00:08,360 Speaker 1: The latest on how this pandemic is impacting farmers. What 3 00:00:08,480 --> 00:00:11,480 Speaker 1: does this do for the United States relationship with China? 4 00:00:11,640 --> 00:00:16,560 Speaker 1: Bloomberg Sound on the Inside, the influencers, the insides. We're 5 00:00:16,600 --> 00:00:19,759 Speaker 1: responding to this crisis and manufacturers are stepping up like 6 00:00:19,920 --> 00:00:23,440 Speaker 1: never before. You're looking at seventy kennidates for different vactines. 7 00:00:23,520 --> 00:00:26,160 Speaker 1: How do we make sure a pandemic of this scale 8 00:00:26,239 --> 00:00:30,320 Speaker 1: never happens again? This is Bloomberg Sound On with Kevin 9 00:00:30,400 --> 00:00:34,680 Speaker 1: Surrelate on Bloomberg and one oh five point seven f 10 00:00:34,800 --> 00:00:37,159 Speaker 1: m h D two. Justin six is gonna give us 11 00:00:37,159 --> 00:00:38,879 Speaker 1: the latest on what the White House is saying on 12 00:00:38,960 --> 00:00:42,640 Speaker 1: the rush sh up bounty meanwire. Meanwhile, that Chair J. 13 00:00:42,840 --> 00:00:47,800 Speaker 1: Powell warning of extraordinary uncertainty. We've got an entire financial 14 00:00:47,800 --> 00:00:50,760 Speaker 1: services preview for the week of head and folks, it's 15 00:00:50,760 --> 00:00:53,400 Speaker 1: going to be a busy four day week in Washington, 16 00:00:54,160 --> 00:00:57,920 Speaker 1: especially as Powell Treasury Secretary manution All gets set to 17 00:00:58,040 --> 00:01:01,600 Speaker 1: report to Congress and the five minutes. Let's not forget 18 00:01:01,600 --> 00:01:05,600 Speaker 1: about that US cases rising one point two percent. The 19 00:01:05,600 --> 00:01:08,679 Speaker 1: worst is yet to come. Wow that according to the 20 00:01:08,760 --> 00:01:13,360 Speaker 1: World Health Organization. Huh, I'm still an optimist. Beautiful day here, 21 00:01:13,400 --> 00:01:15,640 Speaker 1: folks in Washington, d C. I wish the news was 22 00:01:15,680 --> 00:01:19,560 Speaker 1: as good. Joining us on the line, my colleague Justin Sink. 23 00:01:20,319 --> 00:01:23,920 Speaker 1: Justin is Bloomberg's White House reporter. Justin, We've got a 24 00:01:23,920 --> 00:01:27,600 Speaker 1: lot to get through. Let's first get to the Russia 25 00:01:27,800 --> 00:01:31,640 Speaker 1: bounty reports, because that's all anybody's been talking about. Uh. 26 00:01:31,760 --> 00:01:34,640 Speaker 1: Mr Lena Gulfa Polulu and Justin Sink reporting on the 27 00:01:34,640 --> 00:01:38,960 Speaker 1: Bloomberg terminal. President Donald Trump wasn't briefed on reports that 28 00:01:39,040 --> 00:01:43,160 Speaker 1: the Russian government paid bounties for American and Allied troops 29 00:01:43,200 --> 00:01:46,640 Speaker 1: to be killed in Afghanistan because there was no consensus 30 00:01:46,640 --> 00:01:51,560 Speaker 1: among intelligence officials on the veracity of the claims. This 31 00:01:51,680 --> 00:01:56,280 Speaker 1: according to White House Press Secretary Kaylee mcinaney. Justin, what 32 00:01:56,360 --> 00:02:00,720 Speaker 1: else do we know tonight, Well, we know that a 33 00:02:00,720 --> 00:02:03,880 Speaker 1: group of Republican lawmakers might to the White House today 34 00:02:03,920 --> 00:02:06,800 Speaker 1: and was briefed on it. They've come out and largely 35 00:02:06,800 --> 00:02:08,840 Speaker 1: echoed what we heard from the White House today, which 36 00:02:08,919 --> 00:02:12,040 Speaker 1: is that there doesn't seem to be a consensus around 37 00:02:12,200 --> 00:02:14,760 Speaker 1: this intelligence that was reported over the weekend in the 38 00:02:14,760 --> 00:02:18,120 Speaker 1: New York Times, in the Washington Post, although uh, they 39 00:02:18,160 --> 00:02:21,000 Speaker 1: certainly haven't gone as far as the President, who you know, 40 00:02:21,040 --> 00:02:25,360 Speaker 1: referred to this in a tweet as a potential another 41 00:02:25,560 --> 00:02:30,520 Speaker 1: Russia hopes. Um. So you know, while while Republicans are 42 00:02:30,560 --> 00:02:32,840 Speaker 1: a little skeptical, we're going to hear from Democrats who 43 00:02:32,840 --> 00:02:36,079 Speaker 1: are going tomorrow morning to the White House with similar 44 00:02:36,080 --> 00:02:38,880 Speaker 1: briefing of their own, and so we'll learn more then. Justin, 45 00:02:38,919 --> 00:02:41,799 Speaker 1: I have to interrupt you because there's breaking news. Just 46 00:02:42,200 --> 00:02:47,360 Speaker 1: within the last sixties seconds, US Commerce Secretary Wilbur Ross 47 00:02:47,480 --> 00:02:52,080 Speaker 1: releasing a statement saying that Hong Kong's special status has 48 00:02:52,160 --> 00:02:57,440 Speaker 1: been revoked again. Hong Kong's special status has been revoked. 49 00:02:57,560 --> 00:03:01,200 Speaker 1: Breaking news redhead crossing the bloom or terminal from the 50 00:03:01,240 --> 00:03:05,360 Speaker 1: Commerce Department. Secretary Ross saying in a statement quote with 51 00:03:05,480 --> 00:03:09,760 Speaker 1: the Chinese Communist parties imposition of new security measures on 52 00:03:09,880 --> 00:03:14,400 Speaker 1: Hong Kong, the risk that sensitive US technology will be 53 00:03:14,520 --> 00:03:18,920 Speaker 1: diverted to the People's Liberation Army or Ministry of State 54 00:03:19,160 --> 00:03:26,440 Speaker 1: Security has increased, all while undermining the territories autonomy. Secretary 55 00:03:26,520 --> 00:03:31,120 Speaker 1: Ross says that regulations affording preferential treatment to Hong Kong 56 00:03:31,200 --> 00:03:36,640 Speaker 1: over China, including the availability of export licensed exceptions are 57 00:03:36,680 --> 00:03:42,280 Speaker 1: now suspended. Quote. Further actions to eliminate differential treatment are 58 00:03:42,360 --> 00:03:48,000 Speaker 1: also being evaluated. Just toy set here. Commerce Secretary Wilburt 59 00:03:48,080 --> 00:03:51,280 Speaker 1: Ross saying in a statement that Hong Kong special status 60 00:03:51,640 --> 00:03:56,200 Speaker 1: has been revoked. This just coming in moments ago. Now. 61 00:03:56,320 --> 00:04:00,080 Speaker 1: Last week, the Senate had passed a by part it 62 00:04:00,200 --> 00:04:04,320 Speaker 1: is in measure, UH by by part is a measure 63 00:04:04,360 --> 00:04:07,720 Speaker 1: that would essentially make it easier for the United States 64 00:04:07,800 --> 00:04:11,760 Speaker 1: two sanctions members of the Communist Party who do and 65 00:04:11,760 --> 00:04:14,560 Speaker 1: and Chinese officials who do business with the Communist Party 66 00:04:14,600 --> 00:04:18,279 Speaker 1: to back the so called national security measures that the 67 00:04:18,320 --> 00:04:23,280 Speaker 1: Communist Party of China was advancing in result in in 68 00:04:23,880 --> 00:04:29,599 Speaker 1: effect to uh really limit the independence of of Hong Kong. 69 00:04:30,320 --> 00:04:34,640 Speaker 1: So there you go, justin. I mean, wow, somewhat expected, 70 00:04:34,680 --> 00:04:37,080 Speaker 1: the timing of which I don't know uh if that 71 00:04:37,200 --> 00:04:41,400 Speaker 1: was as expected. But some major developments tonight, Yeah, I mean, 72 00:04:41,400 --> 00:04:44,279 Speaker 1: I think the President of telegraphed this possibility when he 73 00:04:44,279 --> 00:04:48,360 Speaker 1: spoke about China earlier this month. He obviously, I think 74 00:04:48,440 --> 00:04:52,680 Speaker 1: was responding to uh, the efforts in China to push 75 00:04:52,760 --> 00:04:55,560 Speaker 1: forward new security laws in Hong Kong. But this has 76 00:04:55,600 --> 00:04:58,200 Speaker 1: been a long simmering dispet and something that the Trump 77 00:04:58,240 --> 00:05:01,919 Speaker 1: administration has really had a hard time waying because on 78 00:05:01,960 --> 00:05:04,719 Speaker 1: the one hand, um, I think they've wanted to respond 79 00:05:04,760 --> 00:05:08,400 Speaker 1: to the actions that China has taken to limit sort 80 00:05:08,400 --> 00:05:11,280 Speaker 1: of democracy and free speech in Hong Kong. On the 81 00:05:11,360 --> 00:05:14,359 Speaker 1: other hand, we know and the President has admitted himself 82 00:05:14,360 --> 00:05:20,000 Speaker 1: that he's really tried to um avoid antagonizing Beijing as 83 00:05:20,080 --> 00:05:23,120 Speaker 1: they work to implement this major trade deal and to 84 00:05:23,240 --> 00:05:26,160 Speaker 1: keep that going. And so we're seeing that the political 85 00:05:26,200 --> 00:05:29,480 Speaker 1: pressure ratchets ratchets up on the president that that they 86 00:05:29,520 --> 00:05:32,080 Speaker 1: are starting to take more aggressive actions. Of course, we're 87 00:05:32,120 --> 00:05:34,720 Speaker 1: going to be interested in how exactly this is implemented 88 00:05:34,720 --> 00:05:38,000 Speaker 1: and what the sort of real world effects of it are, 89 00:05:38,120 --> 00:05:40,600 Speaker 1: but it does show that that the president is feeling 90 00:05:40,680 --> 00:05:43,520 Speaker 1: some of that pressure to to go after China, and 91 00:05:43,560 --> 00:05:46,440 Speaker 1: it all is set against the backdrop of, of course 92 00:05:46,480 --> 00:05:48,880 Speaker 1: the election in a couple of months, and wanted to 93 00:05:48,880 --> 00:05:51,240 Speaker 1: make the case that he's been tougher on China than 94 00:05:51,360 --> 00:05:54,359 Speaker 1: than Joe Biden was during his eight years as vice presidents. 95 00:05:54,440 --> 00:05:57,440 Speaker 1: You know, it is remarkable. The American Chamber of Commerce 96 00:05:57,600 --> 00:06:01,359 Speaker 1: released a survey in June or this month, the June 97 00:06:01,360 --> 00:06:05,440 Speaker 1: of and They asked a hundred and eighty Hong Kong 98 00:06:05,480 --> 00:06:08,400 Speaker 1: based members a part of the American Chamber of Commerce, 99 00:06:08,600 --> 00:06:11,080 Speaker 1: what are your top concerns about the passing of Hong 100 00:06:11,120 --> 00:06:17,599 Speaker 1: Kong's National Security Law. Sixty three percent answered that it 101 00:06:17,760 --> 00:06:23,359 Speaker 1: jeopardizes Hong Kong's international business center status. That was a 102 00:06:23,400 --> 00:06:27,280 Speaker 1: concern prior to this announcement coming tonight from the Commerce 103 00:06:27,320 --> 00:06:30,800 Speaker 1: Secretary that the US has now says that Hong Kong's 104 00:06:30,800 --> 00:06:35,640 Speaker 1: special status is going to be revoked. Meanwhile, contrary to 105 00:06:35,720 --> 00:06:40,520 Speaker 1: international peers, more and more mainland Chinese companies have been 106 00:06:40,560 --> 00:06:45,120 Speaker 1: opening office in offices in Hong Kong. This according to 107 00:06:45,160 --> 00:06:48,760 Speaker 1: the Hong Kong Census and Statistics Department, as put out 108 00:06:48,800 --> 00:06:53,200 Speaker 1: by a data composition last week from Bloomberg. Now, I 109 00:06:53,240 --> 00:06:55,800 Speaker 1: want to go back to this bipartisan measure, because it's 110 00:06:55,839 --> 00:06:58,400 Speaker 1: one thing for the administration to say that Hong Kong 111 00:06:58,480 --> 00:07:03,160 Speaker 1: Special Status is revoked. It's an entirely different, next level escalation, 112 00:07:03,279 --> 00:07:06,359 Speaker 1: justin st. Bloomberg, White House Reporter, for the President to 113 00:07:06,440 --> 00:07:09,840 Speaker 1: sign into law. The bipart is a measure making its 114 00:07:09,880 --> 00:07:14,800 Speaker 1: way through Capitol Hill, which would essentially um make it 115 00:07:15,320 --> 00:07:19,600 Speaker 1: uh easier for the US to sanction officials in China 116 00:07:19,920 --> 00:07:23,280 Speaker 1: who support the Communist Party of China's national security laws. 117 00:07:23,600 --> 00:07:26,640 Speaker 1: Last week I interviewed Congressman Michael mccaull. He's a Republican 118 00:07:26,680 --> 00:07:29,720 Speaker 1: from Texas, top Republican on House Foreign Affairs, and he 119 00:07:29,760 --> 00:07:31,560 Speaker 1: told me he's going to try to persuade the President 120 00:07:31,600 --> 00:07:33,560 Speaker 1: to do so. Is the President going to sign that 121 00:07:33,720 --> 00:07:36,440 Speaker 1: legislation into law to take this one step further? Or 122 00:07:36,440 --> 00:07:39,760 Speaker 1: do we not know? The White House said yet, But 123 00:07:39,800 --> 00:07:41,840 Speaker 1: what we've seen in the past, for instance, I think 124 00:07:41,840 --> 00:07:44,480 Speaker 1: just about a month ago with this bill that would 125 00:07:44,520 --> 00:07:47,600 Speaker 1: have done the same thing or does the same thing, uh, 126 00:07:47,640 --> 00:07:51,760 Speaker 1: in retaliation for you know, steps that they've that China's 127 00:07:51,760 --> 00:07:56,360 Speaker 1: taken against the weaker ethnic population. The White House hasn't 128 00:07:56,400 --> 00:07:58,200 Speaker 1: actually been told any of those measures. So what we 129 00:07:58,440 --> 00:08:00,480 Speaker 1: normally see is that the President will sign the measures, 130 00:08:00,520 --> 00:08:03,600 Speaker 1: but then if he's trying to maintain better relations with China, 131 00:08:04,040 --> 00:08:08,840 Speaker 1: potentially slow walk the actual implementation of new sanctions going forward. 132 00:08:08,920 --> 00:08:11,000 Speaker 1: But again, you know, I think the President at this 133 00:08:11,080 --> 00:08:14,040 Speaker 1: point is trying to signal a tougher approach towards China, 134 00:08:14,200 --> 00:08:18,240 Speaker 1: especially because of frustration over Hong Kong over the coronavirus 135 00:08:18,440 --> 00:08:21,800 Speaker 1: and China handling a bet frustration over them not living 136 00:08:21,840 --> 00:08:24,240 Speaker 1: up to the obligations of the trade deal, and so 137 00:08:25,040 --> 00:08:27,320 Speaker 1: you know, we've seen a real sort of pivot in 138 00:08:27,400 --> 00:08:30,600 Speaker 1: terms of tone and tenor from the White House in recently. Alright, 139 00:08:30,760 --> 00:08:34,320 Speaker 1: Justin Sink Bloomberg White House reporter, thank you for coming 140 00:08:34,360 --> 00:08:37,160 Speaker 1: on to breakdown all of that news again. I just 141 00:08:37,200 --> 00:08:39,000 Speaker 1: want to read more of the statement coming from the 142 00:08:39,000 --> 00:08:42,160 Speaker 1: Commerce Secretary Bilbert Ross. But the Chinese Communist Party's in 143 00:08:42,240 --> 00:08:45,120 Speaker 1: position of new security measures on Hong Kong, the risk 144 00:08:45,200 --> 00:08:47,840 Speaker 1: that sensitive US technology will be diverted to the People's 145 00:08:47,880 --> 00:08:51,719 Speaker 1: Liberation Army or Ministry of State Security has increased, all 146 00:08:51,720 --> 00:08:55,560 Speaker 1: while undermining the territories autonomy. Those are risks that the 147 00:08:55,679 --> 00:08:59,760 Speaker 1: US refuses to accept and have resulted in the revocation 148 00:09:00,120 --> 00:09:04,840 Speaker 1: of Hong Kong's special status. Commerce Department regulations affording preferential 149 00:09:04,840 --> 00:09:07,600 Speaker 1: treatments of Hong Kong over China, including the availability of 150 00:09:07,640 --> 00:09:14,080 Speaker 1: export license exceptions, are suspended. Further actions to eliminate differential 151 00:09:14,080 --> 00:09:17,800 Speaker 1: treatment are also being evaluated. You've got every ankle covered. 152 00:09:17,920 --> 00:09:20,960 Speaker 1: I'm Kevin Cirelli, Chief Washington correspondent for Bloomberg Television and 153 00:09:21,000 --> 00:09:29,079 Speaker 1: from Bloomberg Radio, and you're listening to Bloomberg. You're listening 154 00:09:29,160 --> 00:09:33,760 Speaker 1: to Bloomberg. Sound On with Kevin Surrele on Bloomberg and 155 00:09:33,800 --> 00:09:37,199 Speaker 1: one oh five point seven FM h D two. I'm 156 00:09:37,280 --> 00:09:40,920 Speaker 1: Kevin Cirelli, Chief Washington correspondent for Bloomberg Television and from 157 00:09:40,920 --> 00:09:45,840 Speaker 1: Bloomberg Radio. News never stops news, literally never stops folks. 158 00:09:46,640 --> 00:09:51,800 Speaker 1: Wilber Voss making news tonight revoking Hong Kong special status. 159 00:09:52,000 --> 00:09:54,439 Speaker 1: How to rip up the script? As Tom Keane says, 160 00:09:55,040 --> 00:09:58,560 Speaker 1: a good friend, my mentor, Tom Keane, the legendary rip 161 00:09:58,600 --> 00:10:01,480 Speaker 1: the script up. Let's We're gonna come back to Russia 162 00:10:01,600 --> 00:10:06,440 Speaker 1: and the bounty, the bounty, the Russia Bounty with our panelists, 163 00:10:06,480 --> 00:10:10,040 Speaker 1: our political panelists coming up later in the show. And 164 00:10:10,080 --> 00:10:12,000 Speaker 1: I can tell you what I'm hearing from the left 165 00:10:12,040 --> 00:10:13,800 Speaker 1: and the right in terms of how they're breaking it 166 00:10:13,840 --> 00:10:16,040 Speaker 1: down behind the scenes, because it comes back to this 167 00:10:16,080 --> 00:10:21,200 Speaker 1: whole debate with regards to uh how Intel, how the 168 00:10:21,200 --> 00:10:26,400 Speaker 1: Intel community advises and briefs the president and what it 169 00:10:27,120 --> 00:10:30,200 Speaker 1: what makes the way its way inside of the Oval Office, 170 00:10:30,679 --> 00:10:34,080 Speaker 1: and what does not h So we're gonna dive into 171 00:10:34,120 --> 00:10:36,760 Speaker 1: that coming up with our with our political panelists. But 172 00:10:37,040 --> 00:10:42,360 Speaker 1: first let's get to the Supreme Court because there were 173 00:10:42,400 --> 00:10:46,880 Speaker 1: some more cases today, folks, some more cases. And joining 174 00:10:46,960 --> 00:10:50,880 Speaker 1: us on the line is Greg store Bloomberg, Supreme Court 175 00:10:51,040 --> 00:10:55,800 Speaker 1: reporter the Supreme Court. Greg backed president's power to fire 176 00:10:56,480 --> 00:10:59,520 Speaker 1: the cfp B director. I want to start with that. 177 00:10:59,600 --> 00:11:02,360 Speaker 1: Let's get wonky and then we'll we'll go out, all right. So, 178 00:11:02,480 --> 00:11:05,440 Speaker 1: so the CFPB, the Consumer Financial Protection Bureau, you know, 179 00:11:05,520 --> 00:11:08,800 Speaker 1: this is something Mick mulvaney was the acting director. Remember 180 00:11:08,840 --> 00:11:12,760 Speaker 1: he was the acting director, and a divided US Supreme 181 00:11:12,760 --> 00:11:15,520 Speaker 1: Court said that the president has broad power to fire 182 00:11:16,120 --> 00:11:21,400 Speaker 1: the director of the CFPB. This is interesting because he 183 00:11:21,920 --> 00:11:29,160 Speaker 1: mixed or he flashback, he fired who the progressive who 184 00:11:29,200 --> 00:11:31,160 Speaker 1: was at the helm of it when he took office 185 00:11:31,200 --> 00:11:33,400 Speaker 1: and put Mick mulvany in place. Remember Mick showed up 186 00:11:33,400 --> 00:11:35,560 Speaker 1: with the donuts and it was all of this, you know, 187 00:11:35,760 --> 00:11:38,920 Speaker 1: exciting political drama. But the Supreme Court saying that the 188 00:11:38,920 --> 00:11:42,120 Speaker 1: president can fire who he wants at the CFPB. Yes, 189 00:11:42,360 --> 00:11:46,439 Speaker 1: this this is a little bit complicated, but the CFPB 190 00:11:46,679 --> 00:11:49,480 Speaker 1: was set up to have a director that was independent 191 00:11:49,559 --> 00:11:52,520 Speaker 1: and the idea was, we don't want this person being uh, 192 00:11:52,600 --> 00:11:56,560 Speaker 1: suited by politics, by banks and you know, contributions and 193 00:11:56,600 --> 00:11:59,360 Speaker 1: stuff like that. Um. And so they put these protections 194 00:11:59,360 --> 00:12:01,480 Speaker 1: in it said the director can only be fired for 195 00:12:01,520 --> 00:12:07,120 Speaker 1: certain reasons. And UM. The argument was that that violates 196 00:12:07,160 --> 00:12:10,959 Speaker 1: the Constitution and the separation of powers because a big 197 00:12:11,000 --> 00:12:14,479 Speaker 1: agency like this has to be accountable to somebody, uh, 198 00:12:14,559 --> 00:12:17,720 Speaker 1: namely the president. And so what the Supreme Courts today 199 00:12:17,720 --> 00:12:20,560 Speaker 1: said was, we're going to toss out those those job 200 00:12:20,600 --> 00:12:23,920 Speaker 1: protections for the director, which means the president can fire 201 00:12:23,960 --> 00:12:26,320 Speaker 1: the director for any reason. I do want to, Kevin, 202 00:12:26,400 --> 00:12:28,959 Speaker 1: if I could just tweak something, he said a moment ago. 203 00:12:29,640 --> 00:12:32,400 Speaker 1: When Trump took office, the director of the CFPB was 204 00:12:32,520 --> 00:12:35,480 Speaker 1: Richard Cordray, who then left under his own on his 205 00:12:35,520 --> 00:12:38,280 Speaker 1: own accord to run for governor of Ohio. And that 206 00:12:38,440 --> 00:12:42,679 Speaker 1: let Donald Trump put Mtmilvanyan there. But wasn't there, like, 207 00:12:43,000 --> 00:12:45,520 Speaker 1: but wasn't there someone else who was saying that she 208 00:12:45,840 --> 00:12:50,319 Speaker 1: was the director? And they had like that whole turf war, right, Oh, 209 00:12:50,360 --> 00:12:52,199 Speaker 1: they did, they did. They had that turf war win 210 00:12:52,440 --> 00:12:55,319 Speaker 1: when Cordrey was leaving in terms of who is going 211 00:12:55,360 --> 00:12:57,200 Speaker 1: to be you're you're correct about that. In terms of 212 00:12:57,200 --> 00:13:01,440 Speaker 1: who was going to be um uh broad donuts. I 213 00:13:01,559 --> 00:13:03,839 Speaker 1: remember this. I was talking to sources over there and 214 00:13:03,840 --> 00:13:05,320 Speaker 1: I said, well, did you get a donut today? And 215 00:13:05,320 --> 00:13:07,840 Speaker 1: they were saying, oh, you know, they're progressive, they're not progressive. 216 00:13:07,920 --> 00:13:10,280 Speaker 1: It was this whole litmus test not to get wonky, 217 00:13:10,320 --> 00:13:11,640 Speaker 1: but you know, I do love to get into the 218 00:13:11,679 --> 00:13:14,800 Speaker 1: weeds of the financial services. And and Elizabeth Warren, mind you, 219 00:13:14,840 --> 00:13:17,839 Speaker 1: actually when she wanted to prop the brain child, the 220 00:13:17,880 --> 00:13:21,880 Speaker 1: brain the CFPB is the brainchild of Senator Warren. Slow down, Kevin, 221 00:13:21,880 --> 00:13:24,640 Speaker 1: you're too excited about this and nerdy stuff. But she 222 00:13:24,720 --> 00:13:27,160 Speaker 1: created this. She was the one who who created this, 223 00:13:27,240 --> 00:13:30,800 Speaker 1: and she actually originally wanted it to be a commission 224 00:13:31,120 --> 00:13:35,160 Speaker 1: based and then ultimately changed her mind. And now the 225 00:13:35,160 --> 00:13:39,600 Speaker 1: CFPB is director based, and it could have been set 226 00:13:39,679 --> 00:13:42,840 Speaker 1: up like the SEC or some of the other agencies, 227 00:13:42,920 --> 00:13:45,800 Speaker 1: but you know now it's not. So this is fascinating 228 00:13:46,240 --> 00:13:49,600 Speaker 1: and a major win for conservatives in terms of the 229 00:13:49,640 --> 00:13:53,760 Speaker 1: direction of the CFPB, which is something that Senator Warren 230 00:13:53,800 --> 00:13:56,480 Speaker 1: at the time when she wanted to create this, had 231 00:13:56,520 --> 00:13:59,400 Speaker 1: wanted it to be a little bit more independent. And 232 00:13:59,440 --> 00:14:01,559 Speaker 1: I to leave if I'm if I'm correct. They get 233 00:14:01,559 --> 00:14:04,800 Speaker 1: their funding from the Federal Reserve and not from Congress, 234 00:14:04,880 --> 00:14:07,320 Speaker 1: and so they wanted it to be independent. But this 235 00:14:07,400 --> 00:14:10,000 Speaker 1: is kind of now like a muddled area with the 236 00:14:10,040 --> 00:14:13,240 Speaker 1: president being able to fire them, right yeah, and only 237 00:14:13,280 --> 00:14:17,199 Speaker 1: throw a curvebally to if I could. So. The current 238 00:14:17,240 --> 00:14:20,960 Speaker 1: director is Kathy Craninger, who was appointed by Donald Trump. 239 00:14:21,040 --> 00:14:25,200 Speaker 1: She's been on the program several times. What this means 240 00:14:25,400 --> 00:14:28,840 Speaker 1: is that if Joe Biden wins in November, now, Joe 241 00:14:28,840 --> 00:14:32,120 Speaker 1: Biden won't have the power to fire Kathy Craninger without 242 00:14:32,160 --> 00:14:35,360 Speaker 1: any any explanation, just to put in his own person. 243 00:14:35,760 --> 00:14:39,000 Speaker 1: So at least in the near term, this may actually 244 00:14:39,000 --> 00:14:42,800 Speaker 1: be something that helps Democrats because they won't be stuck 245 00:14:42,840 --> 00:14:47,000 Speaker 1: with this hold over Trump appuitty. In this post, it's 246 00:14:47,000 --> 00:14:50,200 Speaker 1: fascinating and Christine Barrada, executive producer, is like, only you 247 00:14:50,240 --> 00:14:53,960 Speaker 1: would get this excited about a Supreme Court. It's a 248 00:14:53,960 --> 00:14:57,840 Speaker 1: great case, Christine, thank you. You hear that. Barata Greg 249 00:14:57,880 --> 00:15:00,640 Speaker 1: Store Bloomberg Supreme Court reporter says it's a great case. 250 00:15:00,720 --> 00:15:03,600 Speaker 1: Let's talk about the other big case that's making national headlines, 251 00:15:03,640 --> 00:15:07,040 Speaker 1: and that's the abortion rights reinforced. A Supreme Court voids 252 00:15:07,120 --> 00:15:12,360 Speaker 1: the Louisi Anna law, a divided US Supreme Court struck 253 00:15:12,440 --> 00:15:16,440 Speaker 1: down a Louisiana law that opponent said would have left 254 00:15:16,480 --> 00:15:20,680 Speaker 1: the state with only one abortion clinic in a surprise 255 00:15:20,800 --> 00:15:25,000 Speaker 1: reinforcement for women's reproductive rights. I'm reading from your report 256 00:15:25,240 --> 00:15:29,160 Speaker 1: on the Bloomberg terminal. Why was this a surprise decision. 257 00:15:29,840 --> 00:15:32,560 Speaker 1: It's a surprise because the pivol vote. John Roberts was 258 00:15:32,600 --> 00:15:36,720 Speaker 1: a guy who four years ago voted to uphold a 259 00:15:36,800 --> 00:15:42,360 Speaker 1: virtually identical law in UH Texas. The Supreme Court disagree 260 00:15:42,400 --> 00:15:45,400 Speaker 1: with him. He was in dissent, and today he said, 261 00:15:45,600 --> 00:15:47,720 Speaker 1: even though I still think I was right back then, 262 00:15:48,280 --> 00:15:51,360 Speaker 1: I'm gonna go along with that precedent of the Court 263 00:15:51,440 --> 00:15:54,480 Speaker 1: and I'm going to vote to strike down this Louisiana 264 00:15:54,560 --> 00:15:58,040 Speaker 1: law because of this this notion of starry decisive, which 265 00:15:58,040 --> 00:16:01,200 Speaker 1: means that the court generally UH will leave it's its 266 00:16:01,240 --> 00:16:04,080 Speaker 1: past rulings intact. It's the first time John Roberts has 267 00:16:04,120 --> 00:16:09,280 Speaker 1: voted to on the side of abortion rights. It continues 268 00:16:09,320 --> 00:16:12,560 Speaker 1: a pattern we've seen this term with him on a 269 00:16:12,640 --> 00:16:16,200 Speaker 1: number of big cases, joining the courts liberals and UH, 270 00:16:16,240 --> 00:16:19,240 Speaker 1: you know, really gave the abortion right side a victory 271 00:16:19,320 --> 00:16:21,440 Speaker 1: that I think not a lot of them would have 272 00:16:21,480 --> 00:16:23,480 Speaker 1: guessed they were going to get coming into this case. 273 00:16:24,720 --> 00:16:28,840 Speaker 1: Why did Chief Justice John Roberts decide the way that 274 00:16:28,880 --> 00:16:31,920 Speaker 1: he did? What was his arguments? Well, his argument was, 275 00:16:32,240 --> 00:16:36,960 Speaker 1: it's the exact same law. Uh, it's virtually identical, and 276 00:16:37,040 --> 00:16:40,280 Speaker 1: it has the same, maybe even a bigger burden on 277 00:16:40,320 --> 00:16:42,640 Speaker 1: women who want to get an abortion because as as 278 00:16:42,640 --> 00:16:45,520 Speaker 1: you said, uh, it would opponents that it would leave 279 00:16:45,600 --> 00:16:48,840 Speaker 1: Louisiana with only one clinic. And that's what a federal 280 00:16:48,880 --> 00:16:54,200 Speaker 1: district judge found two um. And you know he said this, 281 00:16:54,280 --> 00:16:56,440 Speaker 1: we're not being asked to overturn Roe v. Wade and 282 00:16:56,480 --> 00:17:00,480 Speaker 1: the Casey decision that upheld Roe v. Wade. Uh um. 283 00:17:00,520 --> 00:17:04,720 Speaker 1: And in these circumstances, he said, stories of the science 284 00:17:04,960 --> 00:17:07,520 Speaker 1: is the way to go. I remained, what is going 285 00:17:07,560 --> 00:17:10,840 Speaker 1: to do in future cases? But right we're gonna have 286 00:17:10,840 --> 00:17:14,560 Speaker 1: to leave it there. Greg Store, Bloomberg, Supreme Court reporter. 287 00:17:14,840 --> 00:17:17,680 Speaker 1: Thanks for talking about those cases with us. More next 288 00:17:17,680 --> 00:17:20,040 Speaker 1: with our political panel. You don't want to miss this. 289 00:17:20,119 --> 00:17:21,880 Speaker 1: We have a lot to get through, folks. I'm Kevin 290 00:17:21,920 --> 00:17:27,639 Speaker 1: Sereally you're listening to Bloomberg Knight and I want this 291 00:17:27,920 --> 00:17:33,119 Speaker 1: is Bloomberg Sound On with Kevin Surreley on Bloomberg and 292 00:17:33,200 --> 00:17:35,440 Speaker 1: one or five point seven f m h D two. 293 00:17:36,400 --> 00:17:41,280 Speaker 1: I'm Kevin SURREALI chief Washington correspondent for Bloomberg Television and 294 00:17:41,320 --> 00:17:43,840 Speaker 1: for Bloomberg Radio. Did you see the side? Are you 295 00:17:43,880 --> 00:17:46,960 Speaker 1: looking for a sign? You know? I got this plaque 296 00:17:47,240 --> 00:17:53,160 Speaker 1: from my parents. Actually that says never never, never give up. 297 00:17:54,280 --> 00:17:56,600 Speaker 1: I like it all right. Joining us on the line 298 00:17:56,680 --> 00:18:00,640 Speaker 1: is Lauren Claffey. She is president of Claffey Can Indications. 299 00:18:00,680 --> 00:18:06,360 Speaker 1: She's also now at Hamilton's Place Strategies. Right, Laura, Hi, 300 00:18:06,560 --> 00:18:08,920 Speaker 1: how are you. It's been a minute since we've talked. 301 00:18:08,960 --> 00:18:13,040 Speaker 1: How is your pandemic been? Oh, it has been quiet 302 00:18:13,400 --> 00:18:16,080 Speaker 1: and full of house projects, which I feel like is 303 00:18:16,160 --> 00:18:18,720 Speaker 1: most people. You know what I like to say that 304 00:18:18,800 --> 00:18:21,879 Speaker 1: I can I can bring on my inner Magnolia fixer upper. 305 00:18:21,920 --> 00:18:24,240 Speaker 1: You know what I'm saying? What was your what was 306 00:18:24,280 --> 00:18:27,280 Speaker 1: your best go to fix the rupper that Jip did? 307 00:18:27,119 --> 00:18:30,200 Speaker 1: The house project that you can share with us. We 308 00:18:30,400 --> 00:18:32,880 Speaker 1: are actually just bought an old house, so we've been 309 00:18:32,920 --> 00:18:36,360 Speaker 1: repainting all of it. Yeah, and so um learning how 310 00:18:36,359 --> 00:18:40,000 Speaker 1: to strip strip six year old paint has been has 311 00:18:40,040 --> 00:18:43,359 Speaker 1: been quite satisfying. Well, that's been fun because my a 312 00:18:43,480 --> 00:18:48,160 Speaker 1: c went over the weekend, So God, did you fix it? 313 00:18:48,680 --> 00:18:52,640 Speaker 1: I tried, you know, I tried, But you know it's 314 00:18:52,680 --> 00:18:54,639 Speaker 1: a it's a it's an oppertun. I'm gonna get real 315 00:18:54,680 --> 00:18:58,920 Speaker 1: stoic for a second. It's it's an opportunity to practice patients, right, 316 00:18:58,960 --> 00:19:01,399 Speaker 1: and a sweat. You know, it's hot land and a 317 00:19:01,600 --> 00:19:02,800 Speaker 1: lad I was all to say. I mean, a lot 318 00:19:02,840 --> 00:19:04,159 Speaker 1: of people pay a lot of money to go to 319 00:19:04,200 --> 00:19:07,919 Speaker 1: steam rooms when all of their talk and ahead and 320 00:19:08,000 --> 00:19:12,560 Speaker 1: did it. Yeah, there are bigger problems in the world. 321 00:19:12,560 --> 00:19:14,480 Speaker 1: All right, let's talk about the breaking news. And I 322 00:19:14,480 --> 00:19:17,080 Speaker 1: did you see that Commerce Secretary Wilbert Ross provoking the 323 00:19:17,119 --> 00:19:19,960 Speaker 1: independence trading status of Hong Kong. I know that you've 324 00:19:20,000 --> 00:19:23,600 Speaker 1: got deep, deep ties to you know, you were the 325 00:19:24,040 --> 00:19:26,920 Speaker 1: you formerly worked at the Department of Homeland Security UH 326 00:19:26,960 --> 00:19:30,480 Speaker 1: and the House Homeland Security Committee for Republicans, So tell 327 00:19:30,480 --> 00:19:32,920 Speaker 1: me what do you make of the Hong Kong news? 328 00:19:34,520 --> 00:19:36,760 Speaker 1: I mean, to me, this is just another stuff in 329 00:19:37,359 --> 00:19:40,560 Speaker 1: kind of the escalation between the US and China. Right, 330 00:19:40,600 --> 00:19:42,800 Speaker 1: We've kind of seen all of these moves um slowly 331 00:19:42,800 --> 00:19:45,719 Speaker 1: taking place, and I'm glad that the administration did something 332 00:19:45,760 --> 00:19:49,360 Speaker 1: though to finally push back a little bit more aggressively. 333 00:19:49,400 --> 00:19:53,480 Speaker 1: We haven't heard too much about their reaction to UM 334 00:19:53,840 --> 00:19:58,600 Speaker 1: China's proposal to take away kind of the independence of 335 00:19:58,640 --> 00:20:03,360 Speaker 1: Hong Kong and the democratic um that is that they 336 00:20:03,359 --> 00:20:06,320 Speaker 1: have within the country. And so I think this and 337 00:20:06,359 --> 00:20:08,360 Speaker 1: a couple of you know, and hopefully some of more 338 00:20:08,359 --> 00:20:11,200 Speaker 1: aggressive sanctions will kind of put China on notice a 339 00:20:11,240 --> 00:20:13,639 Speaker 1: little bit as much as possible. You know. UM, I 340 00:20:13,680 --> 00:20:16,399 Speaker 1: really feel for the Hong Kong folks to taste freedom 341 00:20:16,440 --> 00:20:18,760 Speaker 1: and democracy and then have that yanked away by an 342 00:20:18,840 --> 00:20:22,920 Speaker 1: aggressive Beijing. UM is really not a good look. Yeah, 343 00:20:23,119 --> 00:20:25,479 Speaker 1: it's going to be fascinating to see whether or not 344 00:20:25,600 --> 00:20:28,520 Speaker 1: the President signs into law some of those financial services 345 00:20:28,560 --> 00:20:32,800 Speaker 1: pieces of legislation that have bipartisan support up on Capitol Hill. Uh. 346 00:20:32,960 --> 00:20:35,439 Speaker 1: Let's pivot now to the other big story of the day, 347 00:20:35,480 --> 00:20:37,640 Speaker 1: And I really do want you, I want to get 348 00:20:37,640 --> 00:20:39,200 Speaker 1: your take on this, but I also want to get 349 00:20:39,240 --> 00:20:44,080 Speaker 1: your your experience on this because the Russia bounty story 350 00:20:44,240 --> 00:20:48,760 Speaker 1: Lauren has been dominating the national press in terms of 351 00:20:48,760 --> 00:20:53,840 Speaker 1: whether or not the president was briefed on intelligence reports 352 00:20:53,880 --> 00:20:57,159 Speaker 1: that UH says that there was a price on U 353 00:20:57,240 --> 00:21:00,119 Speaker 1: S soldiers, or that Russia placed a bounty on on 354 00:21:00,520 --> 00:21:05,960 Speaker 1: U S soldiers serving. The administration denies this. How does 355 00:21:06,440 --> 00:21:10,119 Speaker 1: the president get briefed on intelligence? Because Republicans are saying 356 00:21:10,440 --> 00:21:14,040 Speaker 1: that this was a strategic leak by certain sources in 357 00:21:14,040 --> 00:21:17,040 Speaker 1: the intel world and that it had not made its 358 00:21:17,080 --> 00:21:21,959 Speaker 1: way inside of the Oval Office. Yeah, you know, the intelligence. 359 00:21:22,240 --> 00:21:26,639 Speaker 1: You have to think of intelligence sometimes as rumors we're gathering, 360 00:21:27,280 --> 00:21:30,879 Speaker 1: especially human intelligence, right that you know that we're acquired 361 00:21:30,960 --> 00:21:34,640 Speaker 1: through kind of word of mouth or through relationships. There's 362 00:21:34,680 --> 00:21:37,520 Speaker 1: a lot that goes into verifying the intelligence and making 363 00:21:37,520 --> 00:21:40,760 Speaker 1: sure that it's actually true. And so by the time 364 00:21:40,760 --> 00:21:44,960 Speaker 1: it's reaching the presidential briefing book, that has had to 365 00:21:45,000 --> 00:21:49,000 Speaker 1: go through so many different layers. And also the presidential 366 00:21:49,040 --> 00:21:53,119 Speaker 1: briefing book is compiled by the intelligence agency based on 367 00:21:53,200 --> 00:21:56,879 Speaker 1: the president's priority, so things that he's looking at, worrying about, 368 00:21:57,200 --> 00:21:59,280 Speaker 1: decisions he needs to make that day. They try to 369 00:21:59,400 --> 00:22:03,280 Speaker 1: keep it. They very brief, and as most classified information 370 00:22:03,359 --> 00:22:05,080 Speaker 1: need to know. A lot of people think that the 371 00:22:05,119 --> 00:22:09,280 Speaker 1: president is getting all encompassing briefings at all times and 372 00:22:09,320 --> 00:22:11,879 Speaker 1: he must know everything that's happening, and that's just simply 373 00:22:11,880 --> 00:22:16,080 Speaker 1: not the case. Um, However, if this had been true, 374 00:22:16,119 --> 00:22:22,040 Speaker 1: and it's looking more and more that it's probably unverified intelligence. Um. 375 00:22:22,080 --> 00:22:23,760 Speaker 1: If it had been true, you would have hoped that 376 00:22:23,760 --> 00:22:25,919 Speaker 1: the President would have been briefed on it. It is 377 00:22:25,960 --> 00:22:29,320 Speaker 1: also worth noting though, that, you know, Marco Rubio even 378 00:22:29,359 --> 00:22:34,439 Speaker 1: said this today. It's very common for our adversaries to 379 00:22:34,560 --> 00:22:38,680 Speaker 1: work through proxies in order to attack our troops or 380 00:22:38,920 --> 00:22:43,120 Speaker 1: interests abroad. So it would not be surprising that Russia 381 00:22:43,200 --> 00:22:47,800 Speaker 1: would be asking for bounties on American troops or trying 382 00:22:47,840 --> 00:22:52,520 Speaker 1: to attack American soldiers in Afghanistan, especially as we're withdrawing 383 00:22:52,880 --> 00:22:56,800 Speaker 1: and as they um right for dominance in the region. 384 00:22:57,359 --> 00:23:00,560 Speaker 1: So you know, I think that while it's horrible, shocking 385 00:23:00,560 --> 00:23:04,440 Speaker 1: and you would want the US to very aggressively, um 386 00:23:05,160 --> 00:23:08,359 Speaker 1: fight back if that was the case, it's also something 387 00:23:08,400 --> 00:23:11,159 Speaker 1: that happens quite frequently, and if it wasn't verified, it 388 00:23:11,200 --> 00:23:12,639 Speaker 1: would not have made it all the way to the 389 00:23:12,640 --> 00:23:17,719 Speaker 1: presidential briefing book. So I think that's really important because 390 00:23:17,840 --> 00:23:20,080 Speaker 1: I think in this day and age and and folks, 391 00:23:20,440 --> 00:23:23,879 Speaker 1: regardless of whether it's a Republican in the administration or 392 00:23:23,920 --> 00:23:27,000 Speaker 1: a Democrat in the administration, what we've learned is that 393 00:23:27,160 --> 00:23:33,399 Speaker 1: leaks coming from the intelligence world, lower level at the 394 00:23:33,560 --> 00:23:38,600 Speaker 1: at the agencies anonymously has been politicized. Is that an 395 00:23:38,640 --> 00:23:42,840 Speaker 1: objective statement, Lauren Claffey, Yeah, I mean I think so. 396 00:23:43,240 --> 00:23:47,720 Speaker 1: But I also have noticed this. I think it is leaks. Yeah, 397 00:23:47,760 --> 00:23:49,600 Speaker 1: they could it then heel just he has a real 398 00:23:49,640 --> 00:23:52,480 Speaker 1: problem of culture of leaks right now. And I think that. 399 00:23:52,920 --> 00:23:55,639 Speaker 1: But I interrupted because I gotta, I gotta, I gotta interrupted. 400 00:23:55,800 --> 00:23:58,040 Speaker 1: I'm sorry, and I apologize for interrupting because it's not 401 00:23:58,160 --> 00:24:00,440 Speaker 1: polite and I was raised better. How Ever, I don't 402 00:24:00,480 --> 00:24:02,360 Speaker 1: think it's the I don't think it's the intelligence broad 403 00:24:02,400 --> 00:24:05,439 Speaker 1: I think it's the lower level staffers at the agency's 404 00:24:05,480 --> 00:24:07,679 Speaker 1: world that has a problem with leaking. I don't think 405 00:24:07,680 --> 00:24:09,800 Speaker 1: the people who are actually in the know on either 406 00:24:09,880 --> 00:24:13,960 Speaker 1: side are leaking personally. Am I wrong? You may be 407 00:24:14,080 --> 00:24:16,119 Speaker 1: right about that. You know, I've seen it come in 408 00:24:16,119 --> 00:24:18,960 Speaker 1: a couple of different places. So I do think that 409 00:24:19,000 --> 00:24:21,199 Speaker 1: the agencies have a problem. I do think that the 410 00:24:21,200 --> 00:24:23,920 Speaker 1: intelligence community often has a problem. And again, I mean, 411 00:24:23,960 --> 00:24:27,159 Speaker 1: you get these for this information that you think is 412 00:24:27,160 --> 00:24:29,880 Speaker 1: a big deal but isn't verified, and you know at 413 00:24:29,920 --> 00:24:32,320 Speaker 1: that point, still here say it's still rumors, Like you 414 00:24:32,359 --> 00:24:34,360 Speaker 1: can't act on it, so to leak it and make 415 00:24:34,400 --> 00:24:38,440 Speaker 1: it fact is a real problem. So okay, So from 416 00:24:38,480 --> 00:24:42,080 Speaker 1: a political standpoint, now put on your political cap. This 417 00:24:42,160 --> 00:24:46,040 Speaker 1: hurts the president's reelection efforts, just given again the consistent 418 00:24:46,160 --> 00:24:49,119 Speaker 1: type of drumbeat of what's going on in the President's 419 00:24:49,160 --> 00:24:52,800 Speaker 1: relationship with Russia. He cannot turn. He cannot for whatever reason. 420 00:24:52,840 --> 00:24:57,119 Speaker 1: His campaign is it's seemingly is struggling right now and 421 00:24:57,160 --> 00:25:00,720 Speaker 1: this is just the latest now foil, so to speak, 422 00:25:01,119 --> 00:25:03,880 Speaker 1: and and that's out there. Yeah, you know, I don't 423 00:25:03,920 --> 00:25:07,879 Speaker 1: know that this is a nail in the coffin, per se. 424 00:25:07,920 --> 00:25:11,280 Speaker 1: I know, I want to clarify, that's not what I'm saying. Yeah, 425 00:25:11,359 --> 00:25:13,480 Speaker 1: I think, um, but I think I mean your point. 426 00:25:13,880 --> 00:25:18,480 Speaker 1: They have had a trouble with messaging and controlling the message, 427 00:25:18,720 --> 00:25:21,560 Speaker 1: um from the get go here. I mean, the coronavirus 428 00:25:21,600 --> 00:25:24,600 Speaker 1: has completely thrown them. Then you add Black Lives Matter 429 00:25:24,680 --> 00:25:26,720 Speaker 1: movement to it. I mean they've had a really bad 430 00:25:26,760 --> 00:25:28,520 Speaker 1: couple of months and they have not been able to 431 00:25:28,560 --> 00:25:31,800 Speaker 1: regain control of the conversation. And I think this, I 432 00:25:31,800 --> 00:25:34,520 Speaker 1: mean this news cycle, this was multiple days over the weekend, 433 00:25:34,640 --> 00:25:36,480 Speaker 1: and this really kind of put them on their hid 434 00:25:37,080 --> 00:25:40,280 Speaker 1: hime feet again, UM, you know, to start the week 435 00:25:40,320 --> 00:25:44,480 Speaker 1: off when they're trying desperately to reset the campaign. And 436 00:25:44,600 --> 00:25:46,760 Speaker 1: this also is coming on the heels of bad pole numbers, 437 00:25:47,040 --> 00:25:49,560 Speaker 1: So you know, I think that every time that they 438 00:25:49,560 --> 00:25:52,600 Speaker 1: have to spend fighting these types of stories is a 439 00:25:52,720 --> 00:25:55,080 Speaker 1: day that they're not getting to push their own message. 440 00:25:55,080 --> 00:25:57,359 Speaker 1: And you never want to be on defense when you're 441 00:25:57,440 --> 00:26:01,399 Speaker 1: running a presidential campaign, especially Trump, who is UM's kind 442 00:26:01,440 --> 00:26:04,199 Speaker 1: of touted that he can control the narrative, control the media. 443 00:26:04,280 --> 00:26:06,359 Speaker 1: I mean, he is kind of the master manipulator in 444 00:26:06,440 --> 00:26:09,040 Speaker 1: that way, and he's not doing it right now. So 445 00:26:09,080 --> 00:26:13,159 Speaker 1: what would you advise the campaign to do? You know 446 00:26:14,160 --> 00:26:17,200 Speaker 1: for me? And this is not going to happen UM, 447 00:26:17,320 --> 00:26:19,280 Speaker 1: because I think they have a principle that doesn't like 448 00:26:19,320 --> 00:26:22,560 Speaker 1: to stay on message, but they really need to boil 449 00:26:22,640 --> 00:26:26,240 Speaker 1: down their core messages and White House policy needs to 450 00:26:26,320 --> 00:26:28,679 Speaker 1: reflect it as well. And I think the campaign is 451 00:26:28,680 --> 00:26:31,560 Speaker 1: out doing one thing with a lot of their social 452 00:26:32,160 --> 00:26:36,159 Speaker 1: media targeting and UM outreach, and then you have the 453 00:26:36,160 --> 00:26:38,159 Speaker 1: White House. He's driving the news of the day for 454 00:26:38,200 --> 00:26:41,240 Speaker 1: the most part, doing something completely different, and they really 455 00:26:41,280 --> 00:26:44,360 Speaker 1: really need to hone in on, you know, a national 456 00:26:44,440 --> 00:26:48,960 Speaker 1: security strength a domestic strength and an economic strength, and 457 00:26:49,119 --> 00:26:50,840 Speaker 1: they really don't have a lot to show for that 458 00:26:50,920 --> 00:26:54,920 Speaker 1: at this point. Lauren Clappy breaking it all down for 459 00:26:55,040 --> 00:26:57,960 Speaker 1: us on a host of different hosts of different issues 460 00:26:58,280 --> 00:27:01,040 Speaker 1: and giving us an update on her own improvement projects. 461 00:27:01,160 --> 00:27:04,240 Speaker 1: You know, it's uh, it's all relative, folks, because we 462 00:27:04,280 --> 00:27:06,600 Speaker 1: all work from home and navigated. Laara, thanks so much 463 00:27:06,720 --> 00:27:08,960 Speaker 1: for for coming on seriously and giving us your expertise. 464 00:27:08,960 --> 00:27:11,600 Speaker 1: That's Lauren Clappy of Hamilton's Place strategies. He has worked 465 00:27:11,640 --> 00:27:14,520 Speaker 1: on the House and Republican circles and of course at 466 00:27:14,520 --> 00:27:17,840 Speaker 1: the Department of Homeland Security as well. Very appreciative for more. Next, 467 00:27:17,880 --> 00:27:37,600 Speaker 1: I'm Kevin's really on Bloomberg. This is Bloomberg's Sound On 468 00:27:37,880 --> 00:27:42,240 Speaker 1: with Kevin Surreley on Bloomberg and one oh five point 469 00:27:42,320 --> 00:27:45,440 Speaker 1: seven f m h D two. I'm Kevin Cirelli, Chief 470 00:27:45,440 --> 00:27:50,520 Speaker 1: Washington correspondent for Bloomberg TV and excuse me and radio 471 00:27:50,960 --> 00:27:53,760 Speaker 1: and recovering all things Hong Kong Tonite as well as 472 00:27:54,119 --> 00:27:56,840 Speaker 1: what's been going on with Russia. But now let's get 473 00:27:56,840 --> 00:28:02,360 Speaker 1: back to the twenty twenty race, and I am thrilled 474 00:28:02,920 --> 00:28:05,480 Speaker 1: to do that with our next guest. I believe it's 475 00:28:05,520 --> 00:28:07,720 Speaker 1: her first time on the program. It is her first 476 00:28:07,720 --> 00:28:10,199 Speaker 1: time on the program, and we're very excited to have 477 00:28:10,240 --> 00:28:14,320 Speaker 1: her on UH and to talk about all of this UH. 478 00:28:14,359 --> 00:28:16,560 Speaker 1: And her name is Laura Think. She is a democratic 479 00:28:16,560 --> 00:28:22,959 Speaker 1: strategist and founder and CEO of Red Rebel Communications in 480 00:28:23,400 --> 00:28:27,080 Speaker 1: San Diego. Are you in San Diego? I, sir Am Kevin. 481 00:28:27,440 --> 00:28:30,640 Speaker 1: I'm very jealous. You know, my a c busted, so 482 00:28:30,800 --> 00:28:33,720 Speaker 1: it's like real hot and humid in my condo. But 483 00:28:34,040 --> 00:28:36,600 Speaker 1: I uh, I would love to be out on a 484 00:28:36,640 --> 00:28:39,160 Speaker 1: beach in San Diego if I do say so? Is 485 00:28:39,200 --> 00:28:42,440 Speaker 1: it as beautiful as I'm imagining it? Laura? Our calling 486 00:28:42,480 --> 00:28:45,000 Speaker 1: card is correct and we are, you know, have the 487 00:28:45,000 --> 00:28:47,840 Speaker 1: most perfect weather and we're one of the most beautiful 488 00:28:47,880 --> 00:28:49,960 Speaker 1: cities in the world. All Right, rub it in, Laura, 489 00:28:50,080 --> 00:28:54,480 Speaker 1: rob it in. What's going on with Okay? So, I 490 00:28:54,560 --> 00:28:57,000 Speaker 1: was talking about this with Jonathan Farrell on Bloomberg Television 491 00:28:57,000 --> 00:29:00,920 Speaker 1: earlier today on Bloomberg Surveillance, and we have been reporting 492 00:29:00,960 --> 00:29:04,440 Speaker 1: on this dynamic of how President Trump wants to make 493 00:29:04,480 --> 00:29:08,520 Speaker 1: this a choice election and the Biden campaign wants to 494 00:29:08,560 --> 00:29:11,840 Speaker 1: make this a referendum election. And that's why we're not 495 00:29:12,000 --> 00:29:15,640 Speaker 1: seeing or hearing as much nationally. So to speak from 496 00:29:15,680 --> 00:29:19,440 Speaker 1: the former vice president when you have conversations with your 497 00:29:19,520 --> 00:29:23,959 Speaker 1: Democratic friends and sources, is that what you're gathering as well. 498 00:29:25,560 --> 00:29:28,120 Speaker 1: I think that's right, and I think part of it is, 499 00:29:28,240 --> 00:29:30,880 Speaker 1: you know, I think Trump is is once again trying 500 00:29:30,920 --> 00:29:33,920 Speaker 1: to defy political gravity, which many would argue he's done 501 00:29:33,920 --> 00:29:37,320 Speaker 1: in the past. But but incumbents are always faced a 502 00:29:37,360 --> 00:29:40,400 Speaker 1: referendum on their leadership. It's sort of the natural way 503 00:29:40,480 --> 00:29:45,440 Speaker 1: of political elections, and particularly polarizing incumbents, which we have 504 00:29:46,040 --> 00:29:48,880 Speaker 1: in President Trump. So I think he would like it 505 00:29:48,920 --> 00:29:51,280 Speaker 1: to be a choice election because it might level the 506 00:29:51,320 --> 00:29:54,120 Speaker 1: playing field more than we currently see in the numbers 507 00:29:54,120 --> 00:29:57,920 Speaker 1: were looking at across the board. But inherently and historically, 508 00:29:58,400 --> 00:30:02,160 Speaker 1: this is a referendum on whoever is the incumbent in office. 509 00:30:02,480 --> 00:30:05,040 Speaker 1: So that's what I want to get at though, because 510 00:30:05,080 --> 00:30:08,280 Speaker 1: the when when Trump was leading Biden, it was back 511 00:30:08,320 --> 00:30:11,200 Speaker 1: in about February January or when that was the expectation 512 00:30:11,240 --> 00:30:13,360 Speaker 1: that this was going to be a much closer race, 513 00:30:13,640 --> 00:30:15,880 Speaker 1: and it was when Biden was debating and an a 514 00:30:15,960 --> 00:30:19,840 Speaker 1: bruising primary. You expect that, and on any cycle any 515 00:30:19,920 --> 00:30:22,400 Speaker 1: side when there is a primary it's going to be 516 00:30:22,480 --> 00:30:26,440 Speaker 1: heated and whatnot. Now he's been able to to duck 517 00:30:26,520 --> 00:30:29,440 Speaker 1: down a little bit from the national headlines. But once 518 00:30:29,440 --> 00:30:32,360 Speaker 1: the debate start, is it a risk that he's not 519 00:30:32,440 --> 00:30:36,160 Speaker 1: out there right now defining himself before the barrage of 520 00:30:36,200 --> 00:30:41,440 Speaker 1: Republican attacks start to be lobbed in his direction. One 521 00:30:41,480 --> 00:30:44,360 Speaker 1: of the advantages that that Joe Biden has inherently is 522 00:30:44,440 --> 00:30:46,720 Speaker 1: he's well known to the American people. He he were 523 00:30:46,760 --> 00:30:49,040 Speaker 1: not talking about a new candidate that they would be 524 00:30:49,040 --> 00:30:52,040 Speaker 1: getting to know, and so he really is able to 525 00:30:52,160 --> 00:30:56,240 Speaker 1: lay low and to allow Trump to proceed on the 526 00:30:56,360 --> 00:30:59,440 Speaker 1: national stage. And in this case, it looks like his 527 00:31:00,000 --> 00:31:03,520 Speaker 1: signing poll numbers show a lot of disapproval of his performance. 528 00:31:03,560 --> 00:31:07,520 Speaker 1: So essentially their campaign strategy is, you know, let Trump 529 00:31:07,560 --> 00:31:10,680 Speaker 1: be Trump, and in fact, that serves Biden quite well. 530 00:31:10,960 --> 00:31:13,479 Speaker 1: You know a lot of critics would say, well, Biden 531 00:31:13,600 --> 00:31:15,880 Speaker 1: is hiding out or he's in the basement. Well I 532 00:31:15,920 --> 00:31:18,560 Speaker 1: would say that he's beating Trump right now, and most 533 00:31:18,600 --> 00:31:22,560 Speaker 1: of the polls from that basement. And and so right now, 534 00:31:22,600 --> 00:31:26,360 Speaker 1: I think that the watchword for the Biden campaign is 535 00:31:26,480 --> 00:31:29,800 Speaker 1: prepare because they know that the onslaught is coming. They 536 00:31:29,840 --> 00:31:32,280 Speaker 1: know that this will be a difficult race no matter 537 00:31:32,320 --> 00:31:35,000 Speaker 1: what the polling numbers say. And I believe he is 538 00:31:35,040 --> 00:31:37,120 Speaker 1: a boy scout and the scout that is the scout 539 00:31:37,120 --> 00:31:39,920 Speaker 1: motto to be prepared. So I think that's that's the 540 00:31:39,920 --> 00:31:43,160 Speaker 1: watchword for Biden and for Trump, it's simply stopped the bleeding. 541 00:31:43,160 --> 00:31:46,000 Speaker 1: I mean, right now, he knows that his disapproval numbers 542 00:31:46,040 --> 00:31:49,000 Speaker 1: are high, his approval number is is at a historic 543 00:31:49,080 --> 00:31:51,600 Speaker 1: low for his presidency, and he has to turn that 544 00:31:51,680 --> 00:31:55,360 Speaker 1: around to become competitive so that states like Georgia he 545 00:31:55,400 --> 00:31:58,080 Speaker 1: doesn't need to run commercials in and and to fight 546 00:31:58,200 --> 00:32:01,520 Speaker 1: for uh to in states for Republicans on most years. 547 00:32:01,520 --> 00:32:03,760 Speaker 1: So that's the that's that's where the winds are blowing 548 00:32:03,880 --> 00:32:07,600 Speaker 1: right now. So let me ask you about your Senator 549 00:32:08,080 --> 00:32:11,120 Speaker 1: Kamala Harris. Is she gonna be the VEEP? Is she 550 00:32:11,200 --> 00:32:15,720 Speaker 1: going to be the vice presidential pick? You know, ourn't prediction. 551 00:32:15,840 --> 00:32:20,120 Speaker 1: So Darling, you know, I hear you, but I gotta 552 00:32:20,280 --> 00:32:22,320 Speaker 1: I gotta ask it because you're you're you know, you're 553 00:32:22,320 --> 00:32:25,200 Speaker 1: out in San Diego, You're on the West coast, and 554 00:32:25,240 --> 00:32:27,440 Speaker 1: you know, and I'm like, what what's the what's the 555 00:32:27,440 --> 00:32:31,080 Speaker 1: word around town in your circles about Kamala Harris is 556 00:32:31,200 --> 00:32:34,320 Speaker 1: how's she gonna How's she gonna take the criminal justice 557 00:32:34,320 --> 00:32:37,719 Speaker 1: reform issue? Is this like an audition for the for 558 00:32:37,800 --> 00:32:42,520 Speaker 1: the veepstakes. Well, I truly think that she was well 559 00:32:42,600 --> 00:32:48,720 Speaker 1: positioned prior to uh George Floyd protests hitting our streets 560 00:32:48,760 --> 00:32:57,719 Speaker 1: and the nationwide and worldwide push for racial justice. No comment, 561 00:32:58,040 --> 00:33:00,160 Speaker 1: So I think, uh, I know, but I think she 562 00:33:00,200 --> 00:33:02,440 Speaker 1: had this thing when she was Attorney general kind of 563 00:33:02,520 --> 00:33:04,040 Speaker 1: running up through the ranks. And I'm not sure how 564 00:33:04,080 --> 00:33:06,360 Speaker 1: long it's been one of her campaign mottos, but she 565 00:33:06,440 --> 00:33:09,320 Speaker 1: had a turn of phrase where she said smart on crime, 566 00:33:09,800 --> 00:33:12,680 Speaker 1: and I think that, you know, we could She's always 567 00:33:12,720 --> 00:33:15,800 Speaker 1: been good on issues of justice and understanding kind of 568 00:33:15,800 --> 00:33:19,200 Speaker 1: where the American people were at and understanding the nuts 569 00:33:19,200 --> 00:33:21,560 Speaker 1: and bolts of law enforcement and where the levers are. 570 00:33:21,720 --> 00:33:24,880 Speaker 1: I think that with her her particularly strong response, her 571 00:33:25,080 --> 00:33:28,200 Speaker 1: her wanting to to to pursue criminal justice reform, her 572 00:33:28,240 --> 00:33:30,880 Speaker 1: being a leader on it prior to the events of 573 00:33:30,920 --> 00:33:32,880 Speaker 1: this year, puts her in a very good place to 574 00:33:32,920 --> 00:33:35,600 Speaker 1: take a leadership position. Not only that, and we also 575 00:33:35,640 --> 00:33:38,280 Speaker 1: can't discount that she ran a pretty a pretty strong 576 00:33:38,920 --> 00:33:41,680 Speaker 1: presidential campaign that I think ended a little bit too soon, 577 00:33:41,760 --> 00:33:43,520 Speaker 1: so that puts her in a good good position. And 578 00:33:43,560 --> 00:33:46,920 Speaker 1: I will say she's my favorite um both personally and 579 00:33:47,120 --> 00:33:49,840 Speaker 1: in terms of the horse race for or the deep 580 00:33:49,920 --> 00:33:54,160 Speaker 1: Steaks um so, but there are obviously many other quality contenders. 581 00:33:54,240 --> 00:33:57,680 Speaker 1: Means Stacy Abrams would be amazing. Valve down this strong. 582 00:33:59,520 --> 00:34:01,400 Speaker 1: I want to want to ask you about val Demings 583 00:34:01,440 --> 00:34:04,040 Speaker 1: because she's someone that I don't think has the national 584 00:34:04,120 --> 00:34:06,959 Speaker 1: profile in the sense that I think she's largely unknown. 585 00:34:06,960 --> 00:34:09,840 Speaker 1: But here in Washington, d C. And in covering Congress 586 00:34:09,880 --> 00:34:12,640 Speaker 1: for the last eight years, she's very well known. And 587 00:34:12,680 --> 00:34:16,040 Speaker 1: she's she's seen as as a force of sorts in 588 00:34:16,160 --> 00:34:19,000 Speaker 1: the House of Representatives and someone who is a very 589 00:34:19,040 --> 00:34:22,600 Speaker 1: serious person, a serious legislator, not someone who runs for 590 00:34:22,640 --> 00:34:25,000 Speaker 1: the microphone, so to speak, that we see on both 591 00:34:25,040 --> 00:34:27,160 Speaker 1: sides of the aisle. What else do we know about 592 00:34:27,239 --> 00:34:31,719 Speaker 1: Congresswoman Val Deming's well. I think her she had a 593 00:34:31,760 --> 00:34:36,120 Speaker 1: star turn during the impeachment proceedings, which in her mind 594 00:34:36,200 --> 00:34:40,200 Speaker 1: wasn't chasing that microphone, but certainly the gravitas that she 595 00:34:40,320 --> 00:34:44,640 Speaker 1: displayed as a law enforcement official, a former law enforcement official, 596 00:34:44,719 --> 00:34:47,080 Speaker 1: and someone who took the took the love very seriously. 597 00:34:47,120 --> 00:34:50,600 Speaker 1: She also had a very sort of accessible approach. You know, 598 00:34:50,960 --> 00:34:53,239 Speaker 1: you had Adam Schiff and the Wether lawyers sort of 599 00:34:53,280 --> 00:34:57,440 Speaker 1: pursuing it from a very legal uh perspective, but she 600 00:34:57,560 --> 00:35:00,279 Speaker 1: has a way of talking in the same sort of 601 00:35:00,440 --> 00:35:02,799 Speaker 1: having that sort of same knowledge of the law, but 602 00:35:02,880 --> 00:35:06,160 Speaker 1: really breaking it down so that you know, people like 603 00:35:06,360 --> 00:35:09,000 Speaker 1: me can understand it. So if your non lawyer, you 604 00:35:09,000 --> 00:35:12,160 Speaker 1: can understand what it was. And so I think her 605 00:35:12,200 --> 00:35:14,880 Speaker 1: her ability to communicate on that level is compelling. She 606 00:35:15,000 --> 00:35:18,800 Speaker 1: just has nerves of steel, and I think um would 607 00:35:18,880 --> 00:35:22,120 Speaker 1: would certainly do well on the national stage. It really 608 00:35:22,320 --> 00:35:25,000 Speaker 1: is remark. I think she would be It's going to 609 00:35:25,080 --> 00:35:28,960 Speaker 1: be interesting to see the differences between Congresswoman Val Demming's 610 00:35:28,960 --> 00:35:32,080 Speaker 1: Florida's tenth district, representing a state that is a key 611 00:35:32,080 --> 00:35:35,879 Speaker 1: battleground versus someone like Senator Kamala Harris, who is more 612 00:35:35,880 --> 00:35:40,600 Speaker 1: of a national uh figure but also from a state 613 00:35:40,680 --> 00:35:42,880 Speaker 1: that likely Democrats are gonna win. We've got like a 614 00:35:42,880 --> 00:35:44,479 Speaker 1: minute left, but I want to ask you what about 615 00:35:44,480 --> 00:35:47,800 Speaker 1: Elizabeth Warren. We have not heard a lot about Elizabeth Warren, 616 00:35:47,800 --> 00:35:51,080 Speaker 1: who up until you know, during the primaries, was someone 617 00:35:51,160 --> 00:35:53,640 Speaker 1: who was very much like an Amy Klobuchar, but who 618 00:35:53,680 --> 00:35:55,719 Speaker 1: has dropped out of that but very much on the 619 00:35:55,800 --> 00:35:59,200 Speaker 1: v on the VP list absolutely, I mean, like her, 620 00:35:59,280 --> 00:36:03,040 Speaker 1: I mean, and it also shows how much environmental dynamics 621 00:36:03,080 --> 00:36:05,160 Speaker 1: play into this. There's only one deep slot and a 622 00:36:05,239 --> 00:36:09,040 Speaker 1: ton of contenders that are extraordinarily qualified. And Elizabeth Warren 623 00:36:09,120 --> 00:36:11,719 Speaker 1: would be a phenomenal vice president. I voted for. She 624 00:36:11,760 --> 00:36:15,920 Speaker 1: would be a phenomenal president. I think though, the the 625 00:36:16,160 --> 00:36:20,279 Speaker 1: fact that race and racial justice continues to be the 626 00:36:20,400 --> 00:36:22,920 Speaker 1: number two issue, even in the face of the economic 627 00:36:23,920 --> 00:36:27,040 Speaker 1: stress and the pandemic, the number two issue in the 628 00:36:27,080 --> 00:36:30,080 Speaker 1: minds of the vast majority of voters right now, means 629 00:36:30,160 --> 00:36:33,400 Speaker 1: we need someone who has a track record and who 630 00:36:33,440 --> 00:36:36,960 Speaker 1: actually looks like America. I think representation matters, and I 631 00:36:37,000 --> 00:36:39,520 Speaker 1: think having a woman of color on the ticket. Uh 632 00:36:39,719 --> 00:36:44,200 Speaker 1: certainly is incredibly important right now. Lara Fank, Democratic strategist 633 00:36:44,200 --> 00:36:46,600 Speaker 1: out in San Diego. Lara, that was fun. Thanks for 634 00:36:46,640 --> 00:36:49,239 Speaker 1: coming on, Come back anytime, all right, I loved it. 635 00:36:49,320 --> 00:36:52,359 Speaker 1: Thank you. And tomorrow we're gonna have continuing coverage of 636 00:36:52,440 --> 00:36:55,399 Speaker 1: the economy and Hong Kong. That's it for Monday, all 637 00:36:55,400 --> 00:36:57,360 Speaker 1: the short work week. Fourth July weekend. What are you 638 00:36:57,400 --> 00:36:58,879 Speaker 1: doing to get back, what are you doing to serve, 639 00:36:58,960 --> 00:37:01,520 Speaker 1: to honor our entree? Let me know I'm Kevin's Really 640 00:37:01,560 --> 00:37:02,960 Speaker 1: this is Bloomberg one