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Speaker 1: Live from our nation's came this budget thing is going

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Speaker 1: to do nothing space sports. I still think it's interesting

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Speaker 1: President Trump not playing his cards yet headlines Policy and

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Speaker 1: Politics colliding Sound on with Kevin zer Relate the insiders,

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Speaker 1: the influencers, the insides. I would rather see a congressional solution.

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Speaker 1: It's part of my DNA. The Senate map in looks

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Speaker 1: a lot different than it looked in. You really have

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Speaker 1: a divide within Team Trump. The President has to do

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Speaker 1: exactly what people seven here to do, which is to

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Speaker 1: get it done. He is sound on with Kevin zur

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Speaker 1: Relate on Bloomberg one and one oh five point seven

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Speaker 1: a m h D two Boltemore, Happy Hup day, folks.

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Speaker 1: Boeing is grounded that according to the f a A,

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Speaker 1: they have reversed course in grounding their fleet of seven

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Speaker 1: thirty seven Max eight fleet. They have the Max Family

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Speaker 1: now grounded. This following yesterday's developments when the international regulating

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Speaker 1: community around the world going at odds against the Federal

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Speaker 1: Aviation Administration UH and saying that they would not be

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Speaker 1: utilizing the seven thirty seven Max Family. President Trump speaking

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Speaker 1: out about this very topic within the last couple of hours.

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Speaker 1: We will bring you the latest fallout for Boeing today

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Speaker 1: as they move quickly behind the scenes and in public

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Speaker 1: to get to the bottom of this investigation. Plus Paul

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Speaker 1: Maniford indicted again, this time by New York State prosecutors.

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Speaker 1: Will bring you the latest on that front. Plus whether

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Speaker 1: or not President Trump could pardon him even if he

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Speaker 1: wants to. It doesn't look like he can. And we

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Speaker 1: are still keeping close eye on this admission scandal. Lori

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Speaker 1: Lock Lori Loughlin, the Becky actress from Full House, scheduled

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Speaker 1: to appear in court any moment in California. We also

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Speaker 1: have an all star panel. We've got Joe Sandberg of

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Speaker 1: Aspiration dot Com. He's also the co founder of blue Apron. Uh,

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Speaker 1: he's the founder of blue Apron rather and the co

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Speaker 1: founder of Aspiration dot com Blue Apron Have they ever

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Speaker 1: cooked your dinner? They've cooked meat in a multiple times.

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Speaker 1: He's going to tell us about the political behind the

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Speaker 1: scenes maneuverings that he's doing ahead of the presidential cycle.

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Speaker 1: Plus John Summer's former communications director to former Senate Majority

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Speaker 1: Leader Harry Reid, and Brendan Buck, former spokesman and adviser

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Speaker 1: to former House Speaker Paul Ryan as well as a

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Speaker 1: partner at Blue Engine Message and Media and j d

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Speaker 1: A front Line. But before we get into all of that,

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Speaker 1: Bowing US regulators reversing course Wednesday and announcing that they

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Speaker 1: are going to ground Boeing's top selling seven thirty seven

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Speaker 1: Max family of airliners amid safety concerns. Remember there was

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Speaker 1: that crash on Sunday in Ethiopia, and this was just

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Speaker 1: after five months, just five months after a similar tragedy

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Speaker 1: off of Indonesia. Now President Trump was was asked about

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Speaker 1: this point blank, just if you hours ago at the

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Speaker 1: White House, I want to play for you what the

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Speaker 1: President had to say, because Boeing is just an integral

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Speaker 1: part of the U S economy, no mistake, but also worldwide,

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Speaker 1: and it's not just a Republican or a Democrat company.

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Speaker 1: I mean, this is really one of gets to the

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Speaker 1: foundation of the of the U S global outlook. And

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Speaker 1: up on Capitol Hill today, whether it was Democrats or

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Speaker 1: Republicans who I was speaking with, no question that there

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Speaker 1: is concerned about what Bowing is doing, but also really

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Speaker 1: wanting to get to the bottom of what this does

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Speaker 1: to protect Bowing, particularly in the international community. Here's President

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Speaker 1: Trump take alls, um Boeing is an incredible company. They

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Speaker 1: are working very very hard right now, and hopefully they'll

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Speaker 1: very quickly come up with the answer. But until they do,

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Speaker 1: the planes are grounded. Now. Boeing shares dropped about three

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Speaker 1: point two per cent after President Trump made those remarks,

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Speaker 1: but they did recover in terms of much of the

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Speaker 1: day's losses shortly after that. This after they've had a rocky,

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Speaker 1: rocky week in terms of shareholder value for this week alone,

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Speaker 1: I can tell you that when I spoke with Senator

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Speaker 1: Chris Coon's, a Democrat from Delaware today, you can catch

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Speaker 1: that bull interview on Bloomberg tv dot com and we'll

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Speaker 1: play a portion of it coming up later on in

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Speaker 1: the show. He was also expressing much of the same

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Speaker 1: rhetoric as President Trump. Again, folks trying to get to

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Speaker 1: the bottom of what precisely happened, particularly following the international

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Speaker 1: regulatory communities response that really went against the f a

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Speaker 1: within the last twenty four hours. Brendan Buck is former

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Speaker 1: spokesman and adviser to former House Speaker Paul Ryan. Now

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Speaker 1: he is a partner at Blue Engine Message and media

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Speaker 1: and j D A frontline, they advised companies UH and

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Speaker 1: consult businesses UH. And well, this is a heck of

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Speaker 1: a of a of a scandal, and i'd ask you

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Speaker 1: to put on your analytical cap here. How do you

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Speaker 1: think Boeing is doing, Brendan in terms of their response

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Speaker 1: to this investigation and response to the not just the

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Speaker 1: f a A, but to the international regulatory community. Well,

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Speaker 1: I found it interesting that they came out and basically

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Speaker 1: said today when this announcement was made, that it was

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Speaker 1: made with their consent, as though that they were part

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Speaker 1: of the solution here. And I don't know how much

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Speaker 1: that is true, but that's obviously something that they need

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Speaker 1: to project that they are in control of this situation. UM.

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Speaker 1: You know, this is not a decision that you make lightly. UH.

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Speaker 1: But at some point it became the obvious one, the

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Speaker 1: only one that you could do. The United States was

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Speaker 1: becoming increasingly isolated in the international community, and the president

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Speaker 1: was becoming isolated politically as well. You had members of

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Speaker 1: both parties calling for this. UM. You know, the disruption

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Speaker 1: that we're going to see here in the big scheme

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Speaker 1: of things, I think it's going to be relatively minor

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Speaker 1: compared to God forbid, what what would happen if something

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Speaker 1: did happen. Um, the issue going forward is going to

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Speaker 1: be figuring out how do we get to this point.

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Speaker 1: I imagine Congress is going to be looking into this

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Speaker 1: for quite a while and what is going to be

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Speaker 1: the process whereby we are now clearing these jets to

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Speaker 1: get back in there, and those are things that, um,

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Speaker 1: how fast this is moving, We still have no idea

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Speaker 1: how long this could last. John Summers, a former communications

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Speaker 1: director to former Senate Majority Leader Harry Reid, and John,

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Speaker 1: you know, I think Brendan makes a really interesting point,

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Speaker 1: particularly because how Boeing came out really proactively in the

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Speaker 1: last twelve to twenty four hours and really getting out

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Speaker 1: uh and saying that they agree with the f a A.

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Speaker 1: This after more than forty nations. Forty nations had announced

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Speaker 1: the grounding of this jet in opposite of what the

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Speaker 1: f a A had originally ruled, taking away at the

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Speaker 1: partisan politics, taking away the politics as well as bowing

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Speaker 1: in particular in terms of the international community's response really

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Speaker 1: rebuke to the f a A. Was the f a

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Speaker 1: A caught flat footed here in terms of how the

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Speaker 1: international community and lawmakers on both sides of the aisle

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Speaker 1: really questioned the FAA's decision. I don't I don't know

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Speaker 1: if they were caught flat footed, but I certainly think

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Speaker 1: we need to get some answers to that. This is

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Speaker 1: one of those and I hate to say it, but

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Speaker 1: one of those where it probably makes sense for Congress

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Speaker 1: to step in at some point and try and get

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Speaker 1: an understanding of what took us so long, because I

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Speaker 1: think the Brendan's point, people were waiting today to you know,

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Speaker 1: how long is it going to take for the United

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Speaker 1: States to come out and ground these planes after practically

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Speaker 1: everyone else had. And I think one of the points

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Speaker 1: that Brendan made, you know, underscores what the problem is

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Speaker 1: that Boeing approved of it. Well, that's exactly what's wrong

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Speaker 1: with our system. We don't need corporations to approve government

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Speaker 1: action to ground planes. And I think, you know, for

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Speaker 1: a lot of us who pay close attention to it,

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Speaker 1: the fact that Boeing gave a million dollars to President

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Speaker 1: so inaugural committee, um, you know, certainly raises some questions

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Speaker 1: whether that is what was behind the delay, Who knows,

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Speaker 1: But I do think we need some answers. Yeah, and

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Speaker 1: I'm sure that there's going to be an inquiry into

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Speaker 1: a lot of these things. Um. You know, I think

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Speaker 1: it's important that we think first and foremost about safety

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Speaker 1: here and hopefully I think everybody at the f A

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Speaker 1: f a A who are career professionals, many of those

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Speaker 1: who I'm sure have been working there for decades, are

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Speaker 1: the type of people who dedicate their lives and making

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Speaker 1: sure that the airways are safe, and that's their number

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Speaker 1: one priority. Um. And I would hate to suggest, without

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Speaker 1: any any evidence that that the opposite is true, you know.

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Speaker 1: And and to Brendan's point, I think that, Uh, what's

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Speaker 1: really interesting is we in the media have this obsession

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Speaker 1: over oh, did they say the right thing? Did they

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Speaker 1: respond the right way? I mean, everyone, take a breath

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Speaker 1: for a minute. I mean it's been it's been like

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Speaker 1: a couple of days. Uh. There they they've got this investigation.

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Speaker 1: There's a ton of pressure on them. Uh and and

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Speaker 1: the f a A has has responded and truthfully, less

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Speaker 1: than the day after more than forty countries disagreed with them.

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Speaker 1: Uh and and uh and you know, and and this

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Speaker 1: is where we are. So do you think Brendan that

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Speaker 1: the likelihood of Dennis Mihlenberg, the CEO of Bowing, will

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Speaker 1: likely have to testify on Capitol Hill as someone will Yeah,

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Speaker 1: if if it rises to his level, I I certainly

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Speaker 1: expect at some point that wouldn't necessarily be the first time.

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Speaker 1: I would imagine that he's done so, either. And they're

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Speaker 1: a company that's very familiar, not just because of the

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Speaker 1: commercial airline, but they do a lot of work throughout

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Speaker 1: government and have a lot of government contracts. So this

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Speaker 1: is a town Washington that is very familiar with with

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Speaker 1: the company UH in general. And and you know, I

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Speaker 1: understand the questions that can arise from the coziness of

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Speaker 1: a large company like that that has a lot of

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Speaker 1: money on the line, but I think we need to

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Speaker 1: just appreciate how big of a deal this is. Stopping

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Speaker 1: airlines UH airplanes midflight and telling them that they need

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Speaker 1: to come down, that that is a dramatic thing that well,

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Speaker 1: they didn't. They didn't. My understanding is, and listening to

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Speaker 1: President Trump, they didn't stop them midflight and tell them

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Speaker 1: they had to come down. They were able to go

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Speaker 1: to their ultimate destination and then they were grounded at that.

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Speaker 1: But yeah, but the point being this is a major deal.

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Speaker 1: Stuff like this does not happen, and decisions like this

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Speaker 1: are not taken lightly. And I think that we need

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Speaker 1: to assume that the decision that was made was done

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Speaker 1: with safety and mind um As I said, I think

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Speaker 1: it became a political decision at some point, but I

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Speaker 1: think we have to assume that people are doing what

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Speaker 1: they think is in the best interest of American air

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Speaker 1: pass and I want to know. President Trump also saying

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Speaker 1: earlier today that he had spoken with Transportation Transportation Secretary

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Speaker 1: Elaine Chow as well as the acting f a A

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Speaker 1: Administrator Daniel Lwell, as well as Boeing officials, including CEO,

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Speaker 1: about this decision and the statement in part from the

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Speaker 1: f a A of regarding the temporary grounding reads that

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Speaker 1: the grounding will remain in effect pending further investigation, including

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Speaker 1: examination of information from the aircraft's flight data recorder and

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Speaker 1: cockpit voice recorders. Coming up, we have more politics and

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Speaker 1: policy including Boeing the panel stage, John Summers, former communications

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Speaker 1: director to former Senate Majority Leader Harry Reid, and Brendan Buck,

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Speaker 1: former spokesman and adviser to former House Speaker Paul Ryan,

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Speaker 1: now a partner at Blue Engine Message and Media and

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Speaker 1: j d A Frontline. Plus Joe Sandberg, the co founder

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Speaker 1: of Aspiration dot Com as well as a founding investor

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Speaker 1: of Blue Apron. We're gonna get his take on the

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Speaker 1: presidential election. I'm Kevin CURRELLI you're listening to Bloomberg point one.

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Speaker 1: You're listening to sound On with Kevin Surreally on Bloomberg

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Speaker 1: one and one oh five point seven f M h

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Speaker 1: D two Boltimore. Happy hump day, folks. Did to see

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Speaker 1: this on Twitter? Hillary Clinton spotted out and about with

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Speaker 1: Adrian L. Rod, friend of the program, at a Fleetwood

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Speaker 1: matt concert. I was not there last night, but I

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Speaker 1: was at Travis Scott and guess who was there? The

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Speaker 1: mayor of Washington, d C. Mayor Bowser. Who would have thought,

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Speaker 1: but hey, vun She left shortly after Travis is opening

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Speaker 1: astral World set joining us now here in studio. One

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Speaker 1: of the co fountaineer or founding investors of Blue Apron,

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Speaker 1: uh the meal kit service, which has a lot of

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Speaker 1: really good food, if I do say so myself. He's

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Speaker 1: also the co founder of Aspiration dot com. So his

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Speaker 1: name is Joe Sandberg. We also have Brendan Buckey's former

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Speaker 1: spokesman and advisor to former House Speaker Paul Ryan and

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Speaker 1: partner at Blue Engine Message and Media, as well as

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Speaker 1: j d A Frontline. John Summers also with us in studio,

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Speaker 1: former communications director to former Senate Majority leader Harry Reid.

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Speaker 1: But Joe, you are the co founder of Aspiration dot Com.

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Speaker 1: I know this when I'm driving back home up nine

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Speaker 1: and I see the Aspiration dot Com like quotes, but

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Speaker 1: I never really knew what it was. Well, Aspiration dot

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Speaker 1: Com is where millions of Americans are going to match

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Speaker 1: their banking spending investing in their values. Most of all,

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Speaker 1: Aspiration offers banking accounts fds ensured that get your money

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Speaker 1: out of fossil fuel and then make it easy for

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Speaker 1: you to match your social values with your spending. So

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Speaker 1: imagine with Aspiration when you use your debit card, your

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Speaker 1: Aspiration debit card at retailers, the Aspiration app shows you

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Speaker 1: how those retailers treat their workers and the environment in

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Speaker 1: the form of a people score and a planet score

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Speaker 1: that Aspiration assigns to them. So is it so? Is

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Speaker 1: it a community bank? Is it a is it a

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Speaker 1: small bank? What kind of bet? How would you it?

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Speaker 1: Doesn't sound like a big bank. Well, Aspirations and online

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Speaker 1: financial institution a million customers, growing hundreds of thousands of

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Speaker 1: customers a month. So okay, so really, but what you're

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Speaker 1: doing is you're tapping into the sort of I would argue,

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Speaker 1: what some would call the progressive social movement type of

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Speaker 1: brand messaging and really kind of flipping the banking industry

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Speaker 1: on its head, right, I mean, is that is that

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Speaker 1: their goal here? That's part of it. There's also something

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Speaker 1: even bigger, which is nine out of ten Americans distrust

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Speaker 1: their bank. And the reason they distrust their bank is

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Speaker 1: that they have a relationship with their bank or the

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Speaker 1: worst they do, the better their bank does, the lower

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Speaker 1: their balance is, the more fees their bank charges them.

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Speaker 1: At the times their most vulnerable, their bank most sticks

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Speaker 1: it to them. And what's also unique about Aspiration is

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Speaker 1: Aspirations business model. The only fees customers Aspiration are the

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Speaker 1: voluntary fees they choose to pay. Aspirations business model is

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Speaker 1: called pay what's fair. You only pay if you're so

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Speaker 1: happy that you'll voluntarily pay, and so just imagine how

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Speaker 1: that wait, wait, so you only pay what you want

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Speaker 1: to pay? What time is? How does I don't. That

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Speaker 1: doesn't he I don't. I don't get that. Well, the

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Speaker 1: idea is that you should only pay if aspiration is

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Speaker 1: doing a good enough job by you that you to pay. Okay,

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Speaker 1: But like the capitalist in me is like, well, I

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Speaker 1: wouldn't pay anything because I'd want to save money. You know,

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Speaker 1: most people treat aspiration fairly because aspiration treats them fairly.

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Speaker 1: Some people don't pay, but almost everyone chooses to pay. Okay,

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Speaker 1: all right, this is interesting, all right, so I take it. Then,

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Speaker 1: you know, you also have your You are a progressive entrepreneur.

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Speaker 1: As I mentioned, you're someone who has ties to Blue Apron.

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Speaker 1: You've got the working hero pack. This is this is

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Speaker 1: very active in and it's also continuing it's work. So

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Speaker 1: what in terms off you look at this crowded democratic field,

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Speaker 1: who who who jumps out at you? What role are

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Speaker 1: you going to be playing? What role are especially in

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Speaker 1: the in the era of where you have Senator Elizabeth

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Speaker 1: Warren having a plan to break up big tech, not

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Speaker 1: just big banks. What role or do you want to

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Speaker 1: play in terms of shaping the progressive debate moving forward? Well,

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Speaker 1: I think the unique voice that I can offer is

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Speaker 1: that of a business person who grew up in poverty,

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Speaker 1: who as much as anyone does, I'm self made, right,

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Speaker 1: I don't think anyone's truly self made. But I didn't

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Speaker 1: have any um wealth passed on to me. To the opposite,

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Speaker 1: even though my mom worked so hard, worked her fingers

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Speaker 1: to the bone, we lost our home to foreclosure. And

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Speaker 1: actually that was a real formative experience because it showed

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Speaker 1: me that even if you work really hard, things don't

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Speaker 1: always work out. And that's what more and more people

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Speaker 1: are feeling in the economy today, even more than when

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Speaker 1: I was a teenager. And I think that whoever wins

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Speaker 1: the Democratic nomination and hopes to defeat President Trump will

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Speaker 1: have to speak to that reality that people are experiencing

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Speaker 1: and living, that this American compact that if you work hard,

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Speaker 1: played by the rules, that everything will work out, that

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Speaker 1: that's just not true for almost everyone. Coming up, we're

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Speaker 1: gonna hear a little bit of my interview as Senator

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Speaker 1: Chris Keon's a Democrat from Delaware. He's all in for

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Speaker 1: Joe Biden. We'll hear what he says. I mean, he

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Speaker 1: pretty much says Joe Biden is gonna run. But you

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Speaker 1: look at the so many different Democrats, whether it's former

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Speaker 1: Vice President Biden, Senator Elizabeth Warren, Bernie Sanders, Kamala Harris,

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Speaker 1: who jumps out? I mean because quite frankly, I think

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Speaker 1: all of them are going to campaign against Trump. But

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Speaker 1: until the political gloves come off and they actually start

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Speaker 1: debating each other and you can differentiate them on where

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Speaker 1: they stand, I think voters are on the on the left,

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Speaker 1: they're gonna have a hard time trying to figure out,

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Speaker 1: you know, who's for what. So from your perspective as

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Speaker 1: a donor, as someone who's an entrepreneur, as as a

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Speaker 1: pack what will you specifically be looking for in such

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Speaker 1: a crowded field about who's going to jump out of

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Speaker 1: that well? Ultimately, it's up to the Democratic primary voters,

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Speaker 1: not any donors in New York City or um San Francisco,

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Speaker 1: to choose who the nominee will be. And I think

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Speaker 1: it's all too early to tell who's going to jump out.

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Speaker 1: But whoever wins the nomination needs to offer a positive

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Speaker 1: and compelling vision of a different America than that which

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Speaker 1: Donald Trump has led. It has to be a vision

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Speaker 1: that makes clear to people that their wages are going

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Speaker 1: to go up, and the basic needs that they need,

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Speaker 1: they need in their life, like healthcare will go down

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Speaker 1: in price. You know, for all the stuff that goes

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Speaker 1: on in Twitter and social media and in d C

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Speaker 1: in New York, eight out of ten Americans are living

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Speaker 1: paycheck to paycheck. And if you want to beat President Trump,

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Speaker 1: you have to offer an agenda that is going to

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Speaker 1: touch the reality that those eight out of ten Americans face.

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Speaker 1: They're living paycheck to paycheck because their wages are too

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Speaker 1: low and the things they need to buy, like healthcare,

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Speaker 1: are too expensive. All right. Joe Sandberger progressive entrepreneur. He

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Speaker 1: is one of the founding investors the Blue Apron. He's

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Speaker 1: also the co founder of Aspiration dot com. Uh and

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Speaker 1: he also has a pack, the Working Hero Pack. I

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Speaker 1: know you've got a train to catch. We appreciate you

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Speaker 1: coming on. Coming up, we're gonna talk Paul Manafort. We're

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Speaker 1: also going to talk more about the policy implications headed

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Speaker 1: this week's Secretary of Commerce, Wilbert Ross, set to testify

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Speaker 1: tomorrow on Capitol Hill, as well as Treasury Secretary Stephen Manusian.

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Speaker 1: Uh And we hear from Senator Chris Coon's a Democrat

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Speaker 1: from Delaware. Remember, folks, and you can download the Sound

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Speaker 1: On podcast on Apple iTunes, at Bloomberg dot com, or

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Speaker 1: by downloading the Bloomberg Business app. You can also find

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Speaker 1: us on Radio dot com and I Heart Radio. Not

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Speaker 1: just me, but my incredibly talented, hard working colleagues as well.

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Speaker 1: I'm Kevin CURRELLI you're listening to Bloomberg. Thank you're listening

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Speaker 1: to Sound On with Kevin's really on Bloomberg one and

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Speaker 1: one oh five point seven of m h D two Baltimore.

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Speaker 1: It was possible and it was totally totally unnecessary. That

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Speaker 1: was the attorney for Paul Manifort, Kevin Downing. Uh. He

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Speaker 1: was speaking shortly after Paul Manafort was sentenced. He will

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Speaker 1: now spend more than seven years behind bars. And then

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Speaker 1: literally minutes after that happened, the New York State Uh,

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Speaker 1: the New York State Court prosecutor there, it is Christine,

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Speaker 1: thank you. The New York State prosecutor actually had new

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Speaker 1: charges for him and indicted him on a totally different

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Speaker 1: uh charges, this just after he was a federally sentenced.

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Speaker 1: And here's the bottom line is that President Trump cannot

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Speaker 1: pardon him if he is found guilty of state crimes.

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Speaker 1: So it really was almost a showing of sorts to

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Speaker 1: President Trump about the potential for pardoning. John Summers is

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Speaker 1: former communications director to former Senate Majority Leader Harry Reid.

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Speaker 1: I mean, really, the timing is everything here as as

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Speaker 1: the New York State prosecutor really went after him. Really

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Speaker 1: really a fascinating day. And you know it was it

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Speaker 1: was interesting to watch the judge um, and and you know,

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Speaker 1: the sentence that she handed down. She certainly didn't go

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Speaker 1: as far as she could have according to the sentencing guidelines.

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Speaker 1: But you know, she wasn't easy on him either. She

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Speaker 1: had some tough words for him and basically gave a

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Speaker 1: sentence that was right in the middle of the road.

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Speaker 1: So UM, I think all in all, what we saw

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Speaker 1: coming out of that court was fair today. But ma'am,

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Speaker 1: what a day. Yeah, this was quite fascinating because in

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Speaker 1: one of the two cases that Mueller brought against Maniford,

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Speaker 1: he was accused of lying to Citizens Bank to obtain

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Speaker 1: mortgage loans on properties in Manhattan and Brooklyn, as well

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Speaker 1: as to Federal Savings banks for loans related to his

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Speaker 1: properties uh in in New York. Coming up, that's the

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Speaker 1: latest in terms of the investigation. Coming up. We talked

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Speaker 1: us China trade policy. Busy day tomorrow on Capitol Hill.

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Speaker 1: We also talked chatter with Senator Chris Coon's. He had

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Speaker 1: a lot to say about the field and his friend

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Speaker 1: former Vice President Joe Biden. You can download the sound

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Speaker 1: on podcast on Apple iTunes, at Bloomberg dot com or

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Speaker 1: by downloading the Bloomberg Business app. You can find us

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Speaker 1: on radio dot com and with our friends at I

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Speaker 1: Heart Radio. I'm Kevin Surreally you're listening to Bloomberg. You're

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Speaker 1: listening to sound on with Kevin's you relate on Bloomberg

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Speaker 1: one and one oh five point seven of them. H

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Speaker 1: D two Baltimore. Busy day, folks, Busy day for Boeing.

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Speaker 1: They actually are now grounding UH their fleet of seven

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Speaker 1: thirty seven Max Families. This after the f A rather

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Speaker 1: the Federal Aviation Administration grounding that fleet following more than

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Speaker 1: forty countries, more than forty countries, saying that they didn't

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Speaker 1: have confidence in this in this UH Boeing seven thirty

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Speaker 1: seven and Boeing for their part, really reacting quite quickly

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Speaker 1: to this, releasing immediately a statement saying that they agree

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Speaker 1: with the f a A and how they are handling

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Speaker 1: this h They've also been out meeting with lawmakers behind

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Speaker 1: the scenes, their their fleet, working with folks at the

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Speaker 1: Department of Transportation. UH. President Trump saying that he has

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Speaker 1: spoken to the CEO of Boeing UH and and look

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Speaker 1: they're there. You know, they've had a bumpy week for

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Speaker 1: for their shareholders. But you know, likely they're going to

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Speaker 1: have to have test testimony. I can tell you that

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Speaker 1: justin speaking with staffers up on Capitol Hill today, UH,

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Speaker 1: there's been a lot of questions for them, not necessarily yes, criticism,

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Speaker 1: but also concerned wanting to get to the bottom and

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Speaker 1: understanding about what has led to these two crashes and

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Speaker 1: as little as five months that left hundreds of folks

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Speaker 1: lost their lives in these in these crashes, Boeing has

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Speaker 1: said that they are are investigating this internally, They're working

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Speaker 1: with the f a A. They're trying to get a

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Speaker 1: thorough investigation done. UH. And then they will have more

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Speaker 1: to say on that front with us for the hour.

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Speaker 1: We are appreciative of their time. John Summer's former communications

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Speaker 1: director and former Senate Majority leader to Harry Reid, and

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Speaker 1: Brendan Buck, former spokesman and adviser to former House speak

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Speaker 1: or Paul Ryan. He's now a partner at Blue Engine

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Speaker 1: Message and Media and j d A front Line. But

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Speaker 1: what is life like outside of Congress? Much? Lower stress?

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Speaker 1: Really that much? Yes, what is the one thing you

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Speaker 1: do now that you didn't have time to do since

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Speaker 1: being on Capitol Hill? Sleep eight hours a night? Yeah,

431
00:24:19,560 --> 00:24:22,560
Speaker 1: what's that like? It's great, It's really really nice. John.

432
00:24:22,600 --> 00:24:24,800
Speaker 1: I think maybe I can find a point of agreement

433
00:24:24,840 --> 00:24:27,840
Speaker 1: that you both probably when since you left Capitol Hill,

434
00:24:28,119 --> 00:24:29,720
Speaker 1: is that one of the biggest things that you found

435
00:24:29,720 --> 00:24:33,040
Speaker 1: was sleep returned. Yeah, I think so. And and the

436
00:24:33,119 --> 00:24:35,280
Speaker 1: level of predictability because I think Brendan and I were

437
00:24:35,280 --> 00:24:38,000
Speaker 1: in similar positions where we were the ones who would

438
00:24:38,000 --> 00:24:40,840
Speaker 1: get the call from you know, either the Speaker or

439
00:24:40,840 --> 00:24:43,520
Speaker 1: the Majority leader in our case, in the middle of

440
00:24:43,520 --> 00:24:45,840
Speaker 1: the night if something happened, or you know that last

441
00:24:45,840 --> 00:24:48,840
Speaker 1: minute whatever had to take a trip. So John had

442
00:24:48,840 --> 00:24:51,720
Speaker 1: it easy. Back in things were a little a little

443
00:24:51,720 --> 00:24:53,760
Speaker 1: easier than they were in the last five or six years.

444
00:24:53,880 --> 00:24:56,360
Speaker 1: That's got to be awful because those calls and politics

445
00:24:56,359 --> 00:24:59,119
Speaker 1: have changed a little bit. On Twitter has changed a

446
00:24:59,119 --> 00:25:00,760
Speaker 1: little bit too, But those halls in the middle of

447
00:25:00,800 --> 00:25:02,359
Speaker 1: the night or there's tweets from the president in the

448
00:25:02,400 --> 00:25:04,439
Speaker 1: middle of the night. Can't ever like that's never like

449
00:25:04,480 --> 00:25:08,920
Speaker 1: a good call to get from what I would imagine. No,

450
00:25:09,160 --> 00:25:12,480
Speaker 1: and I and I've dealt with many We used to

451
00:25:12,560 --> 00:25:14,040
Speaker 1: joke like, Okay, who's going to be the one to

452
00:25:14,080 --> 00:25:16,840
Speaker 1: tell the speaker what just happened? What just was tweeted?

453
00:25:17,040 --> 00:25:21,960
Speaker 1: Um usually failed me, but not not always. That's yeah,

454
00:25:22,000 --> 00:25:24,720
Speaker 1: that's gotta be like I I was just telling a

455
00:25:24,760 --> 00:25:27,040
Speaker 1: colleague today, I was like, if I lose my phone,

456
00:25:27,240 --> 00:25:30,159
Speaker 1: it's like this weird. It's bizarre now how addicted we

457
00:25:30,200 --> 00:25:33,000
Speaker 1: are to our phones were also addicted to policy here.

458
00:25:33,359 --> 00:25:36,960
Speaker 1: That was a pivot, how Christine about US China trade

459
00:25:36,960 --> 00:25:39,440
Speaker 1: talks and Treasury Secretary Stephen manution, he's going to be

460
00:25:39,480 --> 00:25:44,119
Speaker 1: testifying on Capitol Hill tomorrow, as is Commerce Secretary Wilbur Ross.

461
00:25:44,560 --> 00:25:47,360
Speaker 1: Look the Democrats, John, they're gonna go after them. They're

462
00:25:47,359 --> 00:25:50,399
Speaker 1: gonna talk about tax returns and all of the investigations.

463
00:25:50,760 --> 00:25:55,919
Speaker 1: But from a US China trade policy standpoint, Brendan, what

464
00:25:56,119 --> 00:25:58,800
Speaker 1: where are we with this? Because Bob Lighthouser, U S

465
00:25:58,840 --> 00:26:01,359
Speaker 1: Trade representative he tests to fight earlier this week and

466
00:26:01,400 --> 00:26:04,880
Speaker 1: he essentially said, you know, there's still some major differences

467
00:26:04,920 --> 00:26:07,320
Speaker 1: between the U S and China. Yeah, I mean, I

468
00:26:07,320 --> 00:26:09,840
Speaker 1: think the question at this point is how far down

469
00:26:09,840 --> 00:26:12,360
Speaker 1: do they go sort of lowest common denominator deal and

470
00:26:12,359 --> 00:26:14,680
Speaker 1: and how important is it to the president to get

471
00:26:14,840 --> 00:26:18,520
Speaker 1: some type of agreement to potentially end this standoff to

472
00:26:19,280 --> 00:26:22,280
Speaker 1: um allow markets to normalize because there's been so much

473
00:26:22,320 --> 00:26:24,600
Speaker 1: back and forth and so much uncertainty about what's going

474
00:26:24,600 --> 00:26:26,760
Speaker 1: to happen. At some point, everybody needs an exit ramp.

475
00:26:26,760 --> 00:26:28,760
Speaker 1: And so my hope at least is that they're looking

476
00:26:28,800 --> 00:26:31,040
Speaker 1: for a way to find some type of whether it's

477
00:26:31,080 --> 00:26:33,600
Speaker 1: just a small bore agreement where each side can can

478
00:26:33,640 --> 00:26:35,560
Speaker 1: claim and winning, we can move past this. Whether they're

479
00:26:35,560 --> 00:26:37,200
Speaker 1: willing to do that, I don't know, but hopefully that's

480
00:26:37,200 --> 00:26:39,280
Speaker 1: the goal at this point. But what about enforcement mechanisms,

481
00:26:39,280 --> 00:26:41,119
Speaker 1: because that's what I hear from the business community is

482
00:26:41,160 --> 00:26:45,359
Speaker 1: how will this in particular be enforced. I mean, it's

483
00:26:45,400 --> 00:26:48,520
Speaker 1: one thing to have like a small scale agreement, it's

484
00:26:48,520 --> 00:26:51,919
Speaker 1: an entirely different to to actually enforce sure. I think

485
00:26:51,960 --> 00:26:54,200
Speaker 1: we just have to set our expectations properly. I think

486
00:26:54,240 --> 00:26:56,040
Speaker 1: I think most people in the business community, but rather

487
00:26:56,040 --> 00:26:58,000
Speaker 1: go back to the way that it was before all

488
00:26:58,040 --> 00:27:00,840
Speaker 1: of these UH terra force start it. Now, if we

489
00:27:00,840 --> 00:27:02,600
Speaker 1: could get an agreement where you could get China to

490
00:27:02,640 --> 00:27:05,080
Speaker 1: play by the rules and and have rule of law

491
00:27:05,119 --> 00:27:06,960
Speaker 1: and have contracts in the way that we're used to

492
00:27:07,040 --> 00:27:09,040
Speaker 1: enforcing them, that would be great. But I think if

493
00:27:09,040 --> 00:27:10,679
Speaker 1: we're holding after that, we may be waiting for a

494
00:27:10,720 --> 00:27:13,240
Speaker 1: long time. I've been really struck John about why the

495
00:27:13,280 --> 00:27:16,879
Speaker 1: President doesn't go after China more aggressively and instead of

496
00:27:16,920 --> 00:27:19,600
Speaker 1: going after Democrats, because quite frankly, I think that there

497
00:27:19,720 --> 00:27:22,560
Speaker 1: is a streak and populist politics where there would be

498
00:27:22,560 --> 00:27:25,200
Speaker 1: agreement in terms of going after trying to even centrists

499
00:27:25,200 --> 00:27:28,480
Speaker 1: that I interview say that, particularly on issues like intellectual

500
00:27:28,520 --> 00:27:33,080
Speaker 1: property and artificial intelligence, that there is nonpartisan agreement in

501
00:27:33,160 --> 00:27:35,679
Speaker 1: terms of getting China to the table. I was talking

502
00:27:35,680 --> 00:27:39,040
Speaker 1: with Senator Chris Coon's, a Democrat from Delaware, earlier today

503
00:27:39,080 --> 00:27:43,360
Speaker 1: specifically about this, and actually to Brendan's point about tariffs,

504
00:27:43,960 --> 00:27:47,880
Speaker 1: they've got legislation, by partisan legislation that would allow for

505
00:27:47,920 --> 00:27:52,680
Speaker 1: folks and businesses in the poultry industry as well as

506
00:27:52,880 --> 00:27:58,360
Speaker 1: in UH manufacturing to apply for exemptions of tariffs. So

507
00:27:58,440 --> 00:28:00,399
Speaker 1: why then do you think that the president that he

508
00:28:00,440 --> 00:28:03,040
Speaker 1: says he's a tariff man. But why do you think

509
00:28:03,080 --> 00:28:05,879
Speaker 1: if he's trying to close this deal with President She,

510
00:28:06,560 --> 00:28:09,160
Speaker 1: that he's not backing off of this, especially if you're

511
00:28:09,160 --> 00:28:12,520
Speaker 1: trying to get She down to Martel Lago. Well, and

512
00:28:12,560 --> 00:28:14,199
Speaker 1: if you're you know, as you're going back to your

513
00:28:14,240 --> 00:28:16,960
Speaker 1: question about why he's not being more publicly aggressive against She,

514
00:28:17,040 --> 00:28:19,679
Speaker 1: I mean, I think that's an interesting thing because restraint

515
00:28:19,760 --> 00:28:22,000
Speaker 1: is not something that we're used to seeing from this president.

516
00:28:22,040 --> 00:28:25,359
Speaker 1: But I think that's actually something that he's doing fairly

517
00:28:25,359 --> 00:28:27,600
Speaker 1: well right now. You're right, it would be very easy

518
00:28:27,680 --> 00:28:34,760
Speaker 1: for everyone on both sides exactly areas exactly exactly, and

519
00:28:35,160 --> 00:28:37,919
Speaker 1: but it would be easy for everyone to get together

520
00:28:38,160 --> 00:28:41,000
Speaker 1: and just start beating up on China. But that doesn't

521
00:28:41,280 --> 00:28:42,959
Speaker 1: do a whole lot when it comes to getting you

522
00:28:43,000 --> 00:28:45,880
Speaker 1: closer to an agreement. And I think there is I

523
00:28:45,920 --> 00:28:48,280
Speaker 1: will give him credit. I think there's genuinely a good

524
00:28:48,320 --> 00:28:51,440
Speaker 1: faith effort in trying to get there. But you're not

525
00:28:51,440 --> 00:28:54,240
Speaker 1: going to get there if you if you play from

526
00:28:54,240 --> 00:28:56,920
Speaker 1: the normal playbook that Trump likes to play from, and

527
00:28:56,920 --> 00:28:59,280
Speaker 1: whether it's swawey or z E T E. For example,

528
00:28:59,320 --> 00:29:02,680
Speaker 1: in the technolog g sector and we've seen some underlings

529
00:29:02,680 --> 00:29:05,760
Speaker 1: in terms of how the Chinese have responded with Apple

530
00:29:05,880 --> 00:29:10,360
Speaker 1: to some regard the less of an extent, But your

531
00:29:10,400 --> 00:29:13,360
Speaker 1: previous boss, Speaker Ryan, as well as a Senate majority

532
00:29:13,440 --> 00:29:17,000
Speaker 1: leader Mitch McConnell, and even the democratically minority leadership at

533
00:29:17,000 --> 00:29:20,200
Speaker 1: the time, they really had been starting to to lay

534
00:29:20,320 --> 00:29:23,400
Speaker 1: the foundation in terms of everyone talks about Russia, but

535
00:29:23,440 --> 00:29:26,880
Speaker 1: in terms of a cybersecurity policy and national security element

536
00:29:27,400 --> 00:29:31,040
Speaker 1: with the Chinese. Where in terms of how does national

537
00:29:31,080 --> 00:29:36,560
Speaker 1: security factor in Brendan into these US China trade negotiations. Well,

538
00:29:36,720 --> 00:29:39,280
Speaker 1: you remember, this was the whole idea behind TPP, the

539
00:29:39,520 --> 00:29:42,680
Speaker 1: Transpacific Partnership. The whole idea was not necessarily getting a

540
00:29:42,720 --> 00:29:45,200
Speaker 1: trade agreement with these thirteen countries, half of which we

541
00:29:45,200 --> 00:29:47,840
Speaker 1: already had an agreement with. This was about setting the

542
00:29:47,880 --> 00:29:51,360
Speaker 1: rules of the road in that region. China is flexing

543
00:29:51,400 --> 00:29:53,800
Speaker 1: its muscle all around, and a lot of these countries

544
00:29:53,840 --> 00:29:56,120
Speaker 1: who want to are looking for allies, and they're looking

545
00:29:56,120 --> 00:29:58,600
Speaker 1: for which way that they want to go, the more

546
00:29:59,240 --> 00:30:03,000
Speaker 1: uh authoritarian route the way that China does it, or

547
00:30:03,200 --> 00:30:05,680
Speaker 1: or democracy in the in the way that we've always represented.

548
00:30:06,080 --> 00:30:08,320
Speaker 1: And that's the competition, right now and those countries are like,

549
00:30:08,320 --> 00:30:10,600
Speaker 1: who are they going to partner with? And so it's

550
00:30:10,600 --> 00:30:13,360
Speaker 1: important to the United States continue to lead in issues

551
00:30:13,400 --> 00:30:15,760
Speaker 1: on economic issues like trade, because that's what this is

552
00:30:15,800 --> 00:30:19,600
Speaker 1: ultimately about. And China does play an increasingly large threat

553
00:30:19,640 --> 00:30:22,040
Speaker 1: to us, and we need to use these UH soft

554
00:30:22,080 --> 00:30:25,440
Speaker 1: power measures that we have to show up our allies.

555
00:30:25,480 --> 00:30:28,520
Speaker 1: Brendan Buck is former spokesman and advisor to former House

556
00:30:28,520 --> 00:30:31,040
Speaker 1: Speaker Paul Ryan. He's now a partner at Blue Engine

557
00:30:31,040 --> 00:30:34,200
Speaker 1: Message of Media and j d A Frontline. John Summers

558
00:30:34,240 --> 00:30:38,440
Speaker 1: is former communications director to former Senate Majority Leader Harry Reid.

559
00:30:38,560 --> 00:30:41,400
Speaker 1: You know my friend mentor here, the Wall Street whisperer

560
00:30:41,480 --> 00:30:44,880
Speaker 1: Tom Keane of Bloomberg Surveillance always tells me, Kevin, don't

561
00:30:44,880 --> 00:30:48,800
Speaker 1: combine storylines, don't combine narratives. Stories are separate. But on

562
00:30:48,840 --> 00:30:52,320
Speaker 1: a day when Boeing is so influential into the news

563
00:30:52,640 --> 00:30:55,640
Speaker 1: and the backdrop of all of this, and how the

564
00:30:55,680 --> 00:31:00,120
Speaker 1: international regulatory regime of different countries, more than four de

565
00:31:00,200 --> 00:31:05,000
Speaker 1: folks disagreeing with the Federal Aviation Administration and grounding those

566
00:31:05,440 --> 00:31:09,680
Speaker 1: Boeing seven thirty seven knacks Planes Family and now the

567
00:31:09,720 --> 00:31:13,520
Speaker 1: f a A and Boeing has also decided to ground

568
00:31:13,680 --> 00:31:18,960
Speaker 1: those planes pending and investigation. It really is quite remarkable

569
00:31:19,320 --> 00:31:23,360
Speaker 1: to see how Europe, for example, has responded in budding

570
00:31:23,440 --> 00:31:26,280
Speaker 1: heads with the f a A. As President Trump and

571
00:31:26,360 --> 00:31:30,040
Speaker 1: his trade policy is looking and staring down President Cheesing

572
00:31:30,120 --> 00:31:32,720
Speaker 1: Paying of China wants to get him down there tomorrow

573
00:31:32,800 --> 00:31:35,560
Speaker 1: Lago to have some type of deal. Lord knows what,

574
00:31:35,880 --> 00:31:38,280
Speaker 1: especially when he walks out on Kim Jongon in Vietnam

575
00:31:38,400 --> 00:31:42,360
Speaker 1: the other week. But is also has one staring down

576
00:31:42,360 --> 00:31:45,120
Speaker 1: the Europeans and and and so, like tariff might be

577
00:31:45,160 --> 00:31:48,920
Speaker 1: closing in China, but Europe might just be around the corner. No. Yeah,

578
00:31:48,920 --> 00:31:50,920
Speaker 1: I was wondering where you're going with that. I think,

579
00:31:50,920 --> 00:31:54,400
Speaker 1: well I got there. I landed the plane. Yeah, impressive,

580
00:31:54,560 --> 00:31:56,880
Speaker 1: thank you. Um. I mean, I think trade is going

581
00:31:56,920 --> 00:31:59,440
Speaker 1: to be one of the defining issues of the next

582
00:31:59,560 --> 00:32:02,640
Speaker 1: year for his presidency. Um, whether whether you're talking about

583
00:32:02,760 --> 00:32:05,200
Speaker 1: China or whether you're talking about him trying to close

584
00:32:05,280 --> 00:32:07,640
Speaker 1: down NAFTA two point oh. I think that is gonna

585
00:32:07,640 --> 00:32:10,400
Speaker 1: be a fascinating thing to watch. There are you know, Kevin,

586
00:32:10,400 --> 00:32:12,040
Speaker 1: I don't tell you there. You can count on one

587
00:32:12,040 --> 00:32:14,640
Speaker 1: hand the number of big legislative things that can possibly

588
00:32:14,640 --> 00:32:16,920
Speaker 1: get done this year. Um. But they've staked a lot

589
00:32:16,920 --> 00:32:20,280
Speaker 1: of effort and time and and political capital at this

590
00:32:20,320 --> 00:32:24,720
Speaker 1: point into getting this rewrite of NAFTA done. Um, this

591
00:32:24,800 --> 00:32:28,000
Speaker 1: is hard to do. I remember when we worked on

592
00:32:28,120 --> 00:32:32,840
Speaker 1: the Trade Promotion Authority Act back in this was President Obama.

593
00:32:32,880 --> 00:32:35,920
Speaker 1: Is one of his biggest priorities in his second term. Uh.

594
00:32:35,920 --> 00:32:37,840
Speaker 1: And we got all of twenty eight Democrats to vote

595
00:32:37,840 --> 00:32:40,200
Speaker 1: for that in the House. Not a lot. Yeah, And

596
00:32:40,240 --> 00:32:42,840
Speaker 1: I think it's I think it's a mistake for frankly,

597
00:32:42,920 --> 00:32:45,240
Speaker 1: for Democrats to to not get on board with with

598
00:32:45,360 --> 00:32:49,240
Speaker 1: NAP to two point, especially when the presidential cycle is

599
00:32:49,280 --> 00:32:51,040
Speaker 1: just around the corner. And I do want to play

600
00:32:51,080 --> 00:32:53,400
Speaker 1: for you a portion of my interview with Senator Chris

601
00:32:53,480 --> 00:32:57,160
Speaker 1: Cohon's about Joe Biden. Here, Senator Coon's on a potential

602
00:32:57,280 --> 00:33:01,160
Speaker 1: Biden run for president. I'm very optimistic Joe Biden's going

603
00:33:01,200 --> 00:33:03,480
Speaker 1: to run for president. I'm all but certain he's going to.

604
00:33:04,120 --> 00:33:06,160
Speaker 1: We met this past week. Um, I know this is

605
00:33:06,200 --> 00:33:10,360
Speaker 1: a big decision. So John Summers should run for president.

606
00:33:10,600 --> 00:33:12,720
Speaker 1: I am a big Biden fan. I would love for

607
00:33:12,800 --> 00:33:14,280
Speaker 1: him to jump in the race. I think he has

608
00:33:14,320 --> 00:33:16,000
Speaker 1: a lot to offer you know, I know a lot

609
00:33:16,000 --> 00:33:17,640
Speaker 1: of people come back and say, you know, he's another

610
00:33:18,120 --> 00:33:20,840
Speaker 1: you know, older white guy in the race, but you know,

611
00:33:20,960 --> 00:33:22,960
Speaker 1: he brings a lot of traits to the table that

612
00:33:23,040 --> 00:33:26,400
Speaker 1: we need as we confront Trump in Biden, I'm ready

613
00:33:26,400 --> 00:33:27,720
Speaker 1: for somebody to shake it up a little bit, and

614
00:33:27,800 --> 00:33:29,920
Speaker 1: Joe Biden might just be our guy. All right. Well,

615
00:33:29,920 --> 00:33:32,000
Speaker 1: I want to thank our panel because there's a lot

616
00:33:32,000 --> 00:33:33,920
Speaker 1: of people in that field who I think I want

617
00:33:33,920 --> 00:33:35,640
Speaker 1: to shake it up. But but you know, it's still

618
00:33:35,640 --> 00:33:38,720
Speaker 1: too early. I still think there's plenty of time. You know.

619
00:33:38,840 --> 00:33:41,000
Speaker 1: That's kind of why I got into political journalism, was

620
00:33:41,040 --> 00:33:43,760
Speaker 1: the whole like you know, horse race and whatnot. The

621
00:33:43,800 --> 00:33:47,480
Speaker 1: policy is much more fun, much more interesting, and quite frankly,

622
00:33:47,560 --> 00:33:50,680
Speaker 1: much more influential. I want to thank our panel, John Summers,

623
00:33:50,760 --> 00:33:54,640
Speaker 1: former communications director and former Senate Majority Leader or two,

624
00:33:54,680 --> 00:33:57,400
Speaker 1: former Senate Majority Leader Harry Reid, as well as Brendan Buck,

625
00:33:57,480 --> 00:34:01,479
Speaker 1: former spokesman to Paul Ryan, and our partner at Blue Engine.

626
00:34:01,640 --> 00:34:04,920
Speaker 1: Check us out on Apple, iTunes, I Heart Radio, and

627
00:34:05,000 --> 00:34:08,160
Speaker 1: the Bloomberg Business app. That's it for me Tomorrow more

628
00:34:08,320 --> 00:34:09,280
Speaker 1: US China trade