WEBVTT - California Representative Brad Sherman Talks Presidential Race

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Congressman Brad Sherman of California, the Democrat is with us now. Congressman,

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<v Speaker 2>we do want to talk to you as you sit

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<v Speaker 2>on the Foreign Affairs Committee about NATO and some other

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<v Speaker 2>matters as well. But of course there was a caucus

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<v Speaker 2>meeting with you and your colleagues this morning. Did any

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<v Speaker 2>consensus about the future of Biden as the nominee emerge

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<v Speaker 2>from that meeting or did it just create more confusion?

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<v Speaker 3>We at a consensus that Biden has been an outstanding president.

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<v Speaker 3>Biden had a bad night. Trump has led a bad life.

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<v Speaker 3>As to what we should do now, I won't say that.

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<v Speaker 3>You know, we're a Democratic party.

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<v Speaker 1>We've got a lot of different views.

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<v Speaker 3>Some thought that no matter what, Biden should be our

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<v Speaker 3>nominee and it shouldn't be discussed. Others thought we are

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<v Speaker 3>at to urge Biden to drop out. I took kind

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<v Speaker 3>of a midpoint. I think that the delegate will make

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<v Speaker 3>the best possible decision. If Biden provides more tests and

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<v Speaker 3>more information, we'll see that in the press conference he's

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<v Speaker 3>going to do in a couple of days. I would

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<v Speaker 3>like to see him for ninety minutes live at nine

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<v Speaker 3>PM in the next couple of weeks, because on September tenth,

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<v Speaker 3>he's got his second debate with Trump, which will be

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<v Speaker 3>ninety minutes live at nine PM, and it's important that

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<v Speaker 3>the delegates have a chance to see him perform under

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<v Speaker 3>a similar circumstance.

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<v Speaker 4>This is an endless conversation, obviously, Congressman, and I can

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<v Speaker 4>hear your support for Joe Biden here, while I realize

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<v Speaker 4>you want to see more. How much time is there

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<v Speaker 4>for Democrats? Is it between now and the convention in Chicago?

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<v Speaker 4>Or are we looking at a couple of weeks here

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<v Speaker 4>knowing that we've got issues potentially getting on ballots and

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<v Speaker 4>so forth.

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<v Speaker 1>If it's not going to be Joe Biden at the

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<v Speaker 1>top of the ticket, I.

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<v Speaker 3>Think it's clear that we can get on all the

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<v Speaker 3>ballots if we act. At the time of our convent,

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<v Speaker 3>Ohio was an outlier. They've changed their rules, So although

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<v Speaker 3>we were planning to meet Ohio's requirements by having a

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<v Speaker 3>virtual vote in early August, we can now do this

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<v Speaker 3>on August twentieth, and that is that will work for

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<v Speaker 3>all fifty states as.

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<v Speaker 1>A political convention. Is the deadline?

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<v Speaker 3>Yes, and yet I think we'll be making a decision,

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<v Speaker 3>a collective decision, long before then, and I think important

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<v Speaker 3>that we see before the convention that Biden can meet

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<v Speaker 3>that test of September tenth when he debates Trump a

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<v Speaker 3>second time.

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<v Speaker 2>What we have heard from the President congressman is a

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<v Speaker 2>suggestion or a pushback against polling that suggests he is

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<v Speaker 2>lagging behind Donald Trump in a meaningful way, or perhaps

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<v Speaker 2>that has widened since his debate performance at the end

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<v Speaker 2>of last month. Do you believe what you're seeing in

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<v Speaker 2>the polls.

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<v Speaker 3>Well, it takes a while for a major event to

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<v Speaker 3>really register with the public and really be reflected in

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<v Speaker 3>the polls, and so I think it's polls for a

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<v Speaker 3>few days from now. It will reflect what happened on

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<v Speaker 3>June twenty seventh. But I don't think anybody would say

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<v Speaker 3>that the debate performance helped the Biden campaign, and I

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<v Speaker 3>think a similar performance on September tenth would be a

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<v Speaker 3>big problem. And that's why I think we need our

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<v Speaker 3>presidential candidate, the leader of our party, to demonstrate, then

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<v Speaker 3>the words of Nancy Pelosi, that was an episode, not

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<v Speaker 3>a condition. I think he can meet that test. I'd

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<v Speaker 3>prefer the test to be as close as possible to

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<v Speaker 3>the one he'll face on September September tenth, But there'll

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<v Speaker 3>be a number of ways in which he demonstrates to

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<v Speaker 3>the delegates, who are the ultimate decision makers here, that

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<v Speaker 3>he is fully up to the job not only of

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<v Speaker 3>beating Donald Trump, not only of beating him in the debate,

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<v Speaker 3>but also governing this country until the end of the

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<v Speaker 3>second term.

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<v Speaker 4>Well as a Democrat who has not yet made up

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<v Speaker 4>his mind on this or found common ground with colleagues

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<v Speaker 4>in the House. And from your perch on the Foreign

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<v Speaker 4>Affairs Committee, Congressman, what are you looking for when Joe

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<v Speaker 4>Biden speaks at the NATO summit today at five o'clock?

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<v Speaker 4>What do you want to hear? What spirit do you

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<v Speaker 4>expect him to bring to the podium.

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<v Speaker 3>I want him to deal with tough questions that he

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<v Speaker 3>may not have anticipated, and to acquit himself well. I

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<v Speaker 3>am very sure that his policies toward NATO will be

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<v Speaker 3>reasonable and ones that I would generally support. So I'm

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<v Speaker 3>not looking at that press conference in terms of is

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<v Speaker 3>does he have the right views about.

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<v Speaker 1>Our foreign policy?

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<v Speaker 3>I'm looking at that press conference to see whether he

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<v Speaker 3>can convince the country that one debate was just an episode.

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<v Speaker 2>Okay, So if you're not looking for policy, Congressman, others

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<v Speaker 2>might be is there a tangible outcome you would like

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<v Speaker 2>to see from the NATO summit this week as it

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<v Speaker 2>pertains to Ukraine or anything else.

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<v Speaker 3>Well, I think we need European countries and Canada to

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<v Speaker 3>step forward and meet that two percent commitment. The majority

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<v Speaker 3>of NATO countries have done that, but most of that

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<v Speaker 3>majority are the smaller countries with the smaller gross national products.

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<v Speaker 3>We need to see Germany and France step forward, when

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<v Speaker 3>need to see Canada step forward and spend more on

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<v Speaker 3>their own defense. They used to think that they're on

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<v Speaker 3>a totally safe continent.

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<v Speaker 1>That is clearly not.

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<v Speaker 3>The case.

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<v Speaker 4>You make of all this talk of trunk proofing NATO, Congressman,

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<v Speaker 4>and the idea of European nations looking to stand up

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<v Speaker 4>their own armies, possibly an EU army, and a world

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<v Speaker 4>in which the United States is no longer leading as

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<v Speaker 4>the tip of the spear in this alliance.

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<v Speaker 1>Is that a conversation that you're allowing.

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<v Speaker 3>I think that if they spend the money, and particularly

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<v Speaker 3>on equipment and develop their own military forces, that the

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<v Speaker 3>NATO command structure will work well. I think that if

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<v Speaker 3>there are so many reasons for Europe to be able

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<v Speaker 3>to do more, maybe one of those reasons is that

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<v Speaker 3>under a Trump administration, America would do less.

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<v Speaker 2>It's great to have you, Congressman, weigh in on that,

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<v Speaker 2>given your seat on the Foreign Affairs Committee. Just in

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<v Speaker 2>our final moment with you knowing you also sit on

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<v Speaker 2>House Financial Services. What's your top question for FED shaired

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<v Speaker 2>Jerome Powell when he testifies before you tomorrow.

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<v Speaker 3>Well, the big issue here was his testimony today that

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<v Speaker 3>they're going to completely revise and republish the Aposal three

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<v Speaker 3>banking regulations. Too many of our regulations push the banks

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<v Speaker 3>to put their money on Wall Street and not to

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<v Speaker 3>make those small loans to businesses on Main Street. And

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<v Speaker 3>we need bank regulations that don't unfairly discriminate in favor

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<v Speaker 3>of a buying billion dollars bond portfolios and instead push

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<v Speaker 3>the banks to their traditional role of making loans in

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<v Speaker 3>local cities.

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<v Speaker 1>Brad Sherman of California